RlTl ES AND EXCHANGE COMMISSION - SEC.gov | HOME
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SECU RlTl ES AND EXCHANGE COMMISSION brief summary of finoncial proposols filed with and actions by the S.E.C. Washington, D .C. 20549 ( In ordering full text of Releoaea fr~~~~ublicationa Unit, cite number ) (Issue No. 67-40) FOR RELEASE March 2, 1967 H. C. WATSON CO., LA JOLLA MGM. REGISTRATIONS REVOKED. The SEC today announced a decision under the Securities Exchange Act and the Investment Advisers Act (Release 34-8041) revoking the broker-dealer reg- istration of Hugh C. Watson Co., Inc., of City of Commerce, Calif., and the investment adviser registration of La Jolla Management Co., of San Diego. Watson CO., which also was expelled from the National Association of Securities Dealers, Inc., defaulted by not answering the charges against it. LaJolla Management con- sented to the revocation of its registration. Based upon their consent, the Cmission also barred Charles Arthur Watson and William Marshall from further association with any securities firm and suspended James Watson and Hugh Charles Watson from such association for periods of 120 and 60 days, respectively. According to the Commission's decision, Wacson Co., together with or aided and abetted by Charles and - Robert Watson and Marshall, violated the registration and anti-fraud provisions of the securities laws in the sale of stock of Video Corporation (they converted Video stock received from customers to their own use); Watson Co., aided and abetted by Charles, Hugh and Kobert Watson, violated the Commission's net capital and reporting rules; Watson Co., aided and abetted by Charles Watson and Marshall, violated the Commission's record-keeping rules; and La Jolla, aided and abetted by Charles, Hugh and Robert Watson, violated the Cw- mission's reporting rules. WALDMAN & CO. REVOCATION EFFECTIVE. The SEC reported today that Waldman & Co., of 27 William Street, New York, did not seek Commission review of the initial decision of its Hearing Examiner ordering the revoca- tion of the Waldman firm's broker-dealer registration under the Securities Exchange Act of 1934. Accordingly, the revocation order has become effective. Also effective is the Examiner's order barring the firm's general partner, Seymour Waldman, and three salesmen, Julius Gladstein, Keubin Ehrlich and Bernard Portnoy, from further association with any broker- dealer firm, said three salesmen not having sought Commission review of the Examiner's decision. Three other salesmen have petitioned for review. In his decision, filed January 30, the Examiner found that Waldman & Co., Waldman, and the seven sales- men had violated the anti-fraud provisions of the Federal securities laws in connection with the offer and sale in 1964 and 1965 of stock of Development Corporation of America and United Utiiities Corp. of Florida. The firm also was found to have violated the Commission's net capital rule. FIRST AT ORLANDO FILES EXCHANGE PROPOSAL. First at Orlando Corporation, First National Bank Bldg., Orlando, Fla., filed a registration statement (File 2-26038) with the SEC on February 28 seeking registra- tion of 1,248,500 shares of common stock. The shares are to be offered in exchange for stocks of certain banks, as follows: 840,000 company shares for all of the 210,000 outstanding shares of The First National Bank at Orlando, on the basis of 4 company shares for one First National share; 162,500 shares for the 50,000 outstanding shares of College Park National Bank at Orlando, at the rate of 3.25 company shares for one College Park share; 100,000 shares for the 50,000 outstanding shares of South Orlando National Bank, on the basis of two company shares for one South Orlando share; 76,000 shares for the 40,000 outstanding shares of The Plaza National Bank at Orlando, at the ratio of 1.9 company shares for one Plaza National share; and 70,000 shares for the 35,000 outstanding shares of First National Bank at Pine Hill, at the rate of two com- pany shares for one First National share. The exchange offer is conditioned upon the company's acquiring not less than 80% of the outstanding shares of the said five banks. Organized under Florida law in May 1966, the company proposes to become a bank holding company. The five banks which it seeks to acquire are located in Orlando and suburban Orange County, Fla. W. J. Capehart is board chairman W. H. Dial is president of the company. STANDARD COMPUTEKS FILES FINANCING PROPOSAL. Standard Computers Incorporated, One Wynnewood Rd., Wynnewood, pa. 19096, filed a registration statement (File 2-26040) with the SEC on February 28 seeking reg- istration of $4,000,000 of senior subordinated debentures, due 1980, and warrants to purchase 200,000 shares of comon stock. The securities are to be offered for public sale in units consisting of warrants to purchasc 50 shares and $1,000 of debentures. The offering is to be made through underwriters headed by Blair & Co., Inc., 20 Broad St., New York. The interest rate on the debentures, public offering price and underwriting terms are to be supplied by amendment. Organized under Pennsylvania law in August 1965, the company is engaged in the purchase, lease and sale of electronic data processing equipment. Net proceeds of this financing will be used to finance the purchase of equipment as needed to fulfill the requirements of the leases which may be negotiated. In addition to indebtedness, the company has outstanding 364,300 comon shares, of which Auerbach Corp., Lease Financing Gorp., and the Montgomery Ward & Co., Inc., Retirement Trust own 50,000 shares each; Blair & Co., Inc., holds 50,000 shares. Herman A. Affel, Jr., is president of the company. LIBERTY LEASING FILES FOR OFFERING. Liberty Leasing Co., Inc., 221 N. LaSalle St., Chicago, Ill., filed a registration statement (File 2-20042) with the SEC on February 28 seeking registration of 105,000 shares of common s t o c k . The stock is to be offered for public sale at $5 per share through Alessandrini & CO., Inc., 11 Broadway, New York, which will receive a $.50-~er-share selling commission. The offering is t o be made OVER
Transcript of RlTl ES AND EXCHANGE COMMISSION - SEC.gov | HOME
SECU R l T l ES AND EXCHANGE COMMISSION
brief summary of finoncial proposols filed with and actions by the SEC Washington D C 20549
( In o r d e r i n g f u l l t e x t o f R e l e o a e a f r ~ ~ ~ ~ u b l i c a t i o n a U n i t c i t e n u m b e r )
( I s sue No 67-40) F O R R E L E A S E March 2 1967
H C WATSON CO LA JOLLA MGM REGISTRATIONS REVOKED The SEC today announced a d e c i s i o n under t h e S e c u r i t i e s Exchange Act and t h e Investment Advise rs Act (Release 34-8041) revoking t h e b r o k e r - d e a l e r r e g - i s t r a t i o n o f Hugh C Watson Co I n c of C i t y of Commerce C a l i f and t h e inves tment a d v i s e r r e g i s t r a t i o n of La J o l l a Management Co of San Diego Watson C O which a l s o was e x p e l l e d from t h e N a t i o n a l A s s o c i a t i o n of S e c u r i t i e s D e a l e r s I n c d e f a u l t e d by no t answering t h e charges a g a i n s t i t LaJo l la Management con- sented t o t h e r e v o c a t i o n o f i t s r e g i s t r a t i o n Based upon t h e i r c o n s e n t t h e C m i s s i o n a l s o b a r r e d Char les Arthur Watson and Wil l iam Marsha l l from f u r t h e r a s s o c i a t i o n w i t h any s e c u r i t i e s f i r m and suspended James Watson and Hugh Char les Watson from such a s s o c i a t i o n f o r p e r i o d s of 120 and 60 d a y s r e s p e c t i v e l y
According t o t h e Commissions d e c i s i o n Wacson Co t o g e t h e r w i t h o r a ided and a b e t t e d by Char les and - Robert Watson and M a r s h a l l v i o l a t e d t h e r e g i s t r a t i o n and a n t i - f r a u d p r o v i s i o n s o f t h e s e c u r i t i e s laws i n the s a l e of s t o c k of Video Corpora t ion ( they conver ted Video s t o c k r e c e i v e d from customers t o t h e i r own u s e ) Watson Co a ided and a b e t t e d by C h a r l e s Hugh and Kobert Watson v i o l a t e d t h e Commissions n e t c a p i t a l and r e p o r t i n g r u l e s Watson Co a i d e d and a b e t t e d by Char les Watson and M a r s h a l l v i o l a t e d t h e Commissions record-keeping r u l e s and La J o l l a a ided and a b e t t e d by C h a r l e s Hugh and Robert Watson v i o l a t e d t h e C w - m i s s i o n s r e p o r t i n g r u l e s
WALDMAN amp CO REVOCATION EFFECTIVE The SEC r e p o r t e d today t h a t Waldman amp Co o f 27 William S t r e e t New York d i d n o t s e e k Commission review o f t h e i n i t i a l d e c i s i o n o f i t s Hear ing Examiner o r d e r i n g t h e revoca- t i o n of t h e Waldman f i r m s b r o k e r - d e a l e r r e g i s t r a t i o n under t h e S e c u r i t i e s Exchange Act of 1934 Accordingly t h e r e v o c a t i o n o r d e r has become e f f e c t i v e
Also e f f e c t i v e i s t h e Examiner s o r d e r b a r r i n g t h e f i r m s g e n e r a l p a r t n e r Seymour Waldman and t h r e e salesmen J u l i u s G l a d s t e i n Keubin E h r l i c h and Bernard Por tnoy from f u r t h e r a s s o c i a t i o n w i t h any b r o k e r - d e a l e r f i r m s a i d t h r e e salesmen n o t hav ing sought Commission review of t h e Examiner s d e c i s i o n Three o t h e r salesmen have p e t i t i o n e d f o r rev iew
In h i s d e c i s i o n f i l e d January 30 t h e Examiner found t h a t Waldman amp Co Waldman and t h e seven s a l e s - men had v i o l a t e d t h e a n t i - f r a u d p r o v i s i o n s of the F e d e r a l s e c u r i t i e s laws i n connec t ion w i t h t h e o f f e r and s a l e i n 1964 and 1965 o f s t o c k o f Development Corpora t ion o f America and United U t i i i t i e s Corp o f F l o r i d a The f i r m a l s o was found t o have v i o l a t e d t h e Commissions n e t c a p i t a l r u l e
FIRST AT ORLANDO FILES EXCHANGE PROPOSAL F i r s t a t Orlando C o r p o r a t i o n F i r s t N a t i o n a l Bank Bldg Orlando F l a f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26038) w i t h t h e SEC on February 28 s e e k i n g r e g i s t r a - t i o n of 1 248500 s h a r e s of common s t o c k The s h a r e s a r e t o be o f f e r e d i n exchange f o r s t o c k s o f c e r t a i n banks a s f o l l o w s 840000 company s h a r e s f o r a l l of t h e 210000 o u t s t a n d i n g s h a r e s of The F i r s t N a t i o n a l Bank a t Orlando on t h e b a s i s o f 4 company s h a r e s f o r one F i r s t N a t i o n a l s h a r e 162500 s h a r e s f o r t h e 50000 o u t s t a n d i n g s h a r e s o f Col lege Park N a t i o n a l Bank a t Or lando a t t h e r a t e o f 3 25 company s h a r e s f o r one College P a r k s h a r e 100000 s h a r e s f o r t h e 50000 o u t s t a n d i n g s h a r e s of South Orlando N a t i o n a l Bank on t h e b a s i s o f two company s h a r e s f o r one South Orlando s h a r e 76000 s h a r e s f o r t h e 40 000 o u t s t a n d i n g s h a r e s o f The P laza N a t i o n a l Bank a t Or lando a t t h e r a t i o of 1 9 company s h a r e s f o r one P l a z a N a t i o n a l s h a r e and 70000 s h a r e s f o r t h e 35000 o u t s t a n d i n g s h a r e s of F i r s t N a t i o n a l Bank a t P ine H i l l a t t h e r a t e o f two com- pany s h a r e s f o r one F i r s t N a t i o n a l s h a r e The exchange o f f e r i s condi t ioned upon t h e companys a c q u i r i n g not l e s s than 80 of t h e o u t s t a n d i n g s h a r e s o f t h e s a i d f i v e banks
Organized under F l o r i d a law i n May 1966 t h e company proposes t o become a bank h o l d i n g company The f i v e banks which i t seeks t o a c q u i r e a r e l o c a t e d i n Orlando and suburban Orange County F l a W J Capehart i s board chairman W H D i a l i s p r e s i d e n t of t h e company
STANDARD COMPUTEKS FILES FINANCING PROPOSAL Standard Computers I n c o r p o r a t e d One Wynnewood Rd Wynnewood pa 19096 f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26040) w i t h t h e SEC on February 28 s e e k i n g r e g - i s t r a t i o n o f $4000000 o f s e n i o r subord ina ted d e b e n t u r e s due 1980 and w a r r a n t s t o purchase 200000 s h a r e s of c o m o n s t o c k The s e c u r i t i e s a r e t o be o f f e r e d f o r p u b l i c s a l e i n u n i t s c o n s i s t i n g o f w a r r a n t s t o purchasc 50 s h a r e s and $1 000 o f d e b e n t u r e s The o f f e r i n g i s t o be made through u n d e r w r i t e r s headed by B l a i r amp Co I n c 20 Broad S t New York The i n t e r e s t r a t e on t h e d e b e n t u r e s p u b l i c o f f e r i n g p r i c e and u n d e r w r i t i n g terms a r e t o be s u p p l i e d by amendment
Organized under Pennsy lvan ia law i n August 1965 t h e company is engaged i n t h e p u r c h a s e l e a s e and s a l e of e l e c t r o n i c d a t a p r o c e s s i n g equipment Net proceeds of t h i s f i n a n c i n g w i l l be used t o f i n a n c e t h e purchase of equipment a s needed t o f u l f i l l t h e requ i rements o f t h e l e a s e s which may be n e g o t i a t e d I n a d d i t i o n t o i n d e b t e d n e s s t h e company has o u t s t a n d i n g 364300 c o m o n s h a r e s o f which Auerbach Corp Lease F inanc ing Gorp and t h e Montgomery Ward amp Co I n c Re t i rement T r u s t own 50000 s h a r e s e a c h B l a i r amp Co I n c ho lds 50000 s h a r e s Herman A A f f e l J r is p r e s i d e n t of t h e company
LIBERTY LEASING FILES FOR OFFERING L i b e r t y Leas ing Co I n c 221 N LaSa l le S t Chicago I l l f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-20042) w i t h t h e SEC on February 28 s e e k i n g r e g i s t r a t i o n o f 105000 s h a r e s o f common s t o c k The s t o c k i s t o be o f f e r e d f o r p u b l i c s a l e a t $5 p e r s h a r e th rough A l e s s a n d r i n i amp C O I n c 11 Broadway New York which w i l l r e c e i v e a $ 5 0 - ~ e r - s h a r e s e l l i n g commission The o f f e r i n g is t o be made
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SEC NEWS DIGEST YARCH 2 1967
on a b e s t e f f o r t s b a s i s The company has a l s o a g r e e d t o s e l l t o t h e u n d e r w r i t e r ( f o r $ 8 0 0 0 ) 8 0 0 0 s h a r e s o f i t s co rnon s t o c k and i t has a g r e e d t o pay a f i n d e r s f e e t o S a u l Kampf i n t h e amount o f $17 250 and t o s e l l 2 2 5 0 common s n a r e s t o him a t $ 1 p e r s h a r e
i
The company i s engaged i n l e a s i n g equ ipment and mach ine ry t o i n d u s t r i a l and commercia l f i r m s Net p r o - t
ceeds o f i t s s t o c k s a l e w i l l be added t o work ing c a p i t a l and used t o expand i t s b u s i n e s s i n equipment l e a s i n g C
m and r e l a t e d f i e l d s I n a d d i t i o n t o i n d e b t e d n e s s t h e company h a s o u t s t a n d i n g 205 000 common s h a r e s o f which management o f f i c i a l s own 921 ( i n c l u d i n g 41 2 e a c h ovned by Howard A Grossman p r e s i d e n t and Maurice
C
i G r o s s e x e c u t i v e v i c e p r e s i d e n t ) f
SUNBEAM FROPOSES DEBENTURE OFFERING Sunbeam C o r p o r a t i o n 5400 W R o o s e v e l t Rd Ch icago I l l 60650 f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26046) w i t h t h e SEC on March 1 s e e k i n g r e g i s t r a t i o n o f $50 000 000 o f s i n k i n g fund d e b e n t u r e s due 1992 The d e b e n t u r e s a r e t o be o f f e r e d f o r p u b l i c s a l e t h r o u g h u n d e r w r i t e r s headed by Goldman Sachs h Co 20 Broad S t New York 10005 and W i l l i a m B l a i r amp CO 135 S L a S a l l e S t Ch icago 1 1 1 60603 The i n t e r e s t r a t e p u b l i c o f f e r i n g p r i c e and u n d e r w r i t i n g t e rms a r e t o b e s u p p l i e d by amendment
The company m a n u f a c t u r e s p o r t a b l e househo ld a p p l i a n c e s Net p r o c e e d s o f i t s d e b e n t u r e s a l e w i l l b e used t o r educe s h o r t - t e r m bor rowings I n a d d i t i o n t o i n d e b t e d n e s s t h e company h a s o u t s t a n d i n g 7 422 534 conunon s h a r e s R P Gwinn i s p r e s i d e n t
DGampO CO MANAGEMENT PROPOSES OFFERING BGM)Co Management Company 1014 P a t t e r s o n B l d g Denver Colo 80202 f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26047) w i t h t h e SEC on March 1 s e e k i n g r e g i s t r a t i o n o f $3 000 000 o f commitments t o i t s 1967 B u t t e s Gas and O i l E x p l o r a t i o n Program t o be o f f e r e d i n minimum commitments o f $10 000 ( s u b j e c t t o an o v e r e x p e n d i t u r e a s s e s s m e n t o f 5 and d e v e l o p m e n t a l e x p e n s e s o f a p p a r e n t l y p r o d u c t i v e p r o p e r t i e s )
Organized under Delaware law i n May 1966 t h e company w i l l engage B u t t e s Gas 61 O i l Co t o e x p l o r e f o r o i l and g a s p r i m a r i l y i n t h e C a l i f o r n i a Texas and t h e Mid-Cont inen t and Rocky Mountain a r e a s B u t t e s w i l l s u b s c r i b e t o a p a r t i c i p a t i o n e q u a l t o o n e - t h i r d o f t h e commitments o f a l l o t h e r p a r t i c i p a n t s The company has o u t s t a n d i n g 100 c a p i t a l s h a r e s which a r e owned i n e q u a l p r o p o r t i o n by J o h n B o r e t a and O t t o Hacke l p r e s i d e n t and v i c e p r e s i d e n ~ r e s p e c t i v e l y o f t h e company and o f B u t t e s
FOUR STOCK PLANS FILED Form S-8 r e g i s t r a t i o n s t a t e m e n t s have been f i l e d w i t h t h e SEC by t h e f o l l o w i n g companies s e e k i n g r e g i s t r a t i o n o f s e c u r i t i e s f o r o f f e r i n g under employee a n d o r o f f i c e r s t o c k p l a n s
Argus I n c o r p o r a t e d 5950 W Touhy Ave Ch icago 111 60648 ( F i l e 2-26044) (141 100 s h a r e s ) Uni t ed A i r c r a f t C o r p o r a t i o n 4 0 0 Main S t E a s t H a r t f o r d Conn 06108 ( F i l e 2-26045) (100000 s h a r e s )
Two a d d i t i o n a l s t o c k p l a n s were f i l e d on Form S - 1 a s f o l l o w s West inghouse E l e c t r i c C o r p o r a t i o n 3 Gateway C e n t e r P i t t s b u r g h Pa 15230 ( F i l e 2 -26048- 300 000 s h a r e s )
( F i l e 2-26049 - 2 0 0 0 0 0 0 s h a r e s )
IKVINGTON PLACE FILES FINANCING PROPOSAL I r v i n g t o n P l a c e I n c 1407 Broadway New York 10018 f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26035) w i t h t h e SEC on F e b r u a r y 28 s e e k i n g r e g i s t r a t i o n o f $600 000 o f 6 s u b o r d i n a t e d c o n v e r t i b l e d e b e n t u r e s due 1975 and 6 0 0 0 0 s h a r e s o f common s t o c k The s e c u r i t i e s a r e t o be o f f e r e d f o r p u b l i c s a l e i n u n i t s c o n s i s t i n g o f $ 1 0 0 0 o f d e b e n t u r e s and 100 common s h a r e s t h r o u g h Shaskan amp C c I n c 67 Broad S t New Ycrk 10004 The p u b l i c o f f e r i n g p r i c e ( $ 1 5 0 0 p e r u n i t maximum) and u n d e r w r i t - i n g terms a r e t o be s u p p l i e d by amendment The company h a s s o l d t o t h e u n d e r w r i t e r f o r $150 t h r e e - y e a r w a r r a n t s t o p u r c h a s e 1 5 0 0 0 s h a r e s o f c o m o n s t o c k
The r e g i s t r a t i o n s t a t e m e n t a l s o c o v e r s 3 0 0 0 0 o u t s t a n d i n g s h a r e s o f c o m o n s t o c k which t h e p r e s e n t h o l d e r s may o f f e r f o r p u b l i c s a l e f rom t ime t o t i m e i n t h e o v e r - t h e - c o u n t e r m a r k e t
The company is p r i n c i p a l l y engaged i n t h e d e s i g n m a n u f a c t u r e and s a l e o f medium-priced young f a s h i o n m e r c h a n d i s e Of t h e n e t p r s c e e d s o f i t s s a l e o f a d d i t i o n a l s e c u r i t i e s $200 000 w i l l be used t o r epay a bank l o a n $350 000 w i l l he used f o r e x p a n s i o n p u r p o s e s and t h e b a l a n c e w i l l be added t o g e n e r a l f u n d s I n a d d i - t i o n t o i n d e b t e d n e s s t h e company h a s o u t s t a n d i n g 240 000 c o m o n s h a r e s a l l owned by management o f f i c i a l s The p r o s p e c t u s l i s t s f o u r s e l l i n g s t o c k h o l d e r s i n c l u d i n g I r v i n g Rothman p r e s i d e n t and board cha i rman Kothman p r e s e n t l y owns 67 of t h e companys o u t s t a n d i n g s t o c k
SHE HAUNTS ME PLAY CO FILES FOR OFFERING The She Haunts Me P l a y Company c o Fima Noveck 619 W 5 4 t h S t New York f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26043) w i t h t h e SEC on F e b r u a r y 28 s e e k i n g r e g i s t r a t i o n o f $450000 o f i n t e r e s t s i n i t s l i m i t e d p a r t n e r s h i p The i n t e r e s t s a r e t o b e o f f e r e d f o r p u b l i c s a l e i n $ 9 0 0 0 u n i t s ( s u b j e c t t o a 20 o v e r c a l l )
The i s s u e r i s a p a r t n e r s h i p t o be formed under New York law f o r t h e purpose o f p r o d u c i n g a d r a m a t i c o - m u s i c a l p l a y p r e s e n t l y e n t i t l e d She Haunts Me a n a d a p t a t i o n o f a n o v e l w r i t t e n by Mrs J o s e p h i n e A C L e s l i e (under t h e pen name o f R A Dick) t i t l e d The Ghost and Mrs Muir The p l o t c o n c e r n s a young widow who r e n t s a n i s o l a t e d c o t t a g e and h e r e n c o u n t e r s w i t h t h e g h o s t o f t h e p r e v i o u s owner who h a u n t s t h e c o t t a g e Rober t Kolc i s t h e composer R icha rd F Cur ry and J o a n J a v i t s l y r i c i s t s and John O t t t h e b o o k w r i t e r The p l a y i s t o be produced by t h e g e n e r a l p a r t n e r Fima Noveck
LOCKHEED FILES FINANCING PROPOSAL Lockheed A i r c r a f t C o r p o r a t i o n 2555 Nor th Hollywood Way Burbank C a l i f 91503 today f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26052) w i t h t h e SEC s e e k i n g r e g i s t r a t i o n o f $ 1 2 5 0 0 0 ~ c o n v e r t i b l e s u b o r d i n a t e d d e b e n t u r e s due 1992 The d e b e n t u r e s a r e t o be o f f e r e d f o r p u b l i c s a l e t h r o u g h a d e r w r i t e r s headed by B l y t h amp Co I n c 14 Wall S t New York 10005 t h e i n t e r e s t r a t e p u b l i c o f f e r - i n g p r i c e and u n d e r w r i t i n g terms a r e t o be s u p p l i e d by amendment
CONTINUED
SEC NEWS DIGEST MlRCH 2 1967 Pa 3
yt middot The capany i engaged in the deign manufacture and ale of aircraft and of aircraft and aero pace bull its buine bullbull 1a now prtmarily military A portion of the net proceeds of it debenture ale will be appliedto the retirement of outtanding bank loan (approximating $55 million) incurred in 1966 and early 1967 in connection with increases in both inventories and capital expenditures During 1966 the capany net invet-ment in inventories increased by approximately $39 million Capital expenditures totaled $71 illion an in-crease of approximately $35 illion over 1965 Capital expenditure in 1967 are expected to approximate thoae in 1966 The balance of the proceed may be used together with internally generated fund bullbull future bank financing and if required funds obtained from other ~ources for addition to property plant and equip-ment to advance the company position in the development production and sale of commercial aircraft in research development and teting to enable the company to continue to compete for aircraft mi bullbull ile and spaceand other Government programs and for other corporate purposes
In addition to indebtednes the company has outstanding lL153078 shares of which manage nt official own about 31 Courtlandt S Gross is board chairman and Daniel J Haughton president
MIDlAND-ROSS PROPOSES DEBIIITU1lB OFFBlUNG Midland-RoBS Corporation 55 Public Sq bullbull Cleveland Ohio 44113 filed a registration statement (File 2-26051) with the SEC on March 1 seeking regitration of $25000000 of inking fund debentures due 1992 The debentures are to be offered for public ale throughunderwriters headed by Smith Barney amp Co Inc 20 Broad St bullbull New York 10005 and Lehman Brother One William St bullbull New York 10004 The interest rate public offering price and underwriting ter are to be supplied by amendment
The company is engaged in the manufacture of products for the capital goods automotive railroad building and construction aerospace and defense and consumer goods industries Net proceed of it deben-ture sale together with internally generated funds and the proceeds of bank borrowings will be ued for general corporate purpoes The company expect that capital expenditures for expansion and tprov nt of its facilities will approxtmate $65000000 in 1967 and 1968 In addition to indebtedness and preferredstock the company has outstanding 5102910 common shares Wade N Harris is board chairman and David I Walbert is president
COIIfOIfWBALTB EDISON PROPOSES OFFBlUNG Coaonwealth Edison Company 72 W Ad St bullbull chicafi Ill 60690 today filed a registration statement (File 2-26055) with the SEC seeking registration of ~OOOOOOO of first mortgage bonds Series Y due 1997 to be offered for public sale at competitive bidding Net pro-ceeds of its bond ale will be added to working capital for ultimate application in connection with the com-panys construction program etimated to cost $1020000000 for the five-year period 1967-1971
llBCIRT FORM 8-K FILINGS The companies listed below have filed Form 8-K reports for the month indicated and responding to the itea of the Form pecified in parentheses Photocopies thereof may be purchaed from
the COIIIIlibullbull ion Public Reference Section (pleae give New Digests Issue No in ordering) Invoice will be included with the requeted material when mailed An index of the captions of the several ite of the form was included in the March 1 News Digest
General Life Of Missouri Investment Co Dec 66 (1) 0-2191-2
General Stores Corp Jan 67 (4713) 1-3136-2 Investors Security Corp Jan 67 (1) 0-1972-2 LAiglon Apparel Inc Jan 67 (791213) 1-3497-2 May Dept Stores Co Jan 67 (8) 1-79-2 May Stores Realty Corp Jan 67 (8) 1-4044-2 Mayflower Life Ins Co of Mich Jan 67 (12)
2-23599-2 tWood Corp Jan 67 (7) 1-5122-2 Merchants Refrigerating Co Feb 67 (713) 1-4029-2 ~
MOrrison-Knudsen Co bullbull Inc Sept 65 (713) 0-880-2
General Life of Missouri Investment Co Amend 1 for Dec 66 (1) 0-2191-2
SECUUrus ACT aBGlSlIATIONS Effective March 1 Data Procesdng Financial and General Corp 2-25924 (40 days) Dlverified Metals Corp bullbull 2-25930 (Apr 10) Omni Spectra Inc bullbull 2-25788 (June 1) ffective March 2 Aero Syt Inc bullbull 2-25903 (90 days) Dynell Electronics Corp 2-25861 (90 days) Withdrawn Match 1 A ampB Gold Silver HIne Inc bullbull 2-25975 Carl W Birky et al Organizers (OvereaInvestment Ltd to be Formed) 2-23884 Savannah Inn amp Country Club Inc bullbull 2-25645
NOTE to DJALBIS be period of time dealers are required to ue the propectus in trading transactiona 1s shown above in parenthee after the name of the ibullbulluer
A ettaampted for purpoe of coaputinl the registration fee
---0000000---
SEC NEWS DIGEST YARCH 2 1967
on a b e s t e f f o r t s b a s i s The company has a l s o a g r e e d t o s e l l t o t h e u n d e r w r i t e r ( f o r $ 8 0 0 0 ) 8 0 0 0 s h a r e s o f i t s co rnon s t o c k and i t has a g r e e d t o pay a f i n d e r s f e e t o S a u l Kampf i n t h e amount o f $17 250 and t o s e l l 2 2 5 0 common s n a r e s t o him a t $ 1 p e r s h a r e
i
The company i s engaged i n l e a s i n g equ ipment and mach ine ry t o i n d u s t r i a l and commercia l f i r m s Net p r o - t
ceeds o f i t s s t o c k s a l e w i l l be added t o work ing c a p i t a l and used t o expand i t s b u s i n e s s i n equipment l e a s i n g C
m and r e l a t e d f i e l d s I n a d d i t i o n t o i n d e b t e d n e s s t h e company h a s o u t s t a n d i n g 205 000 common s h a r e s o f which management o f f i c i a l s own 921 ( i n c l u d i n g 41 2 e a c h ovned by Howard A Grossman p r e s i d e n t and Maurice
C
i G r o s s e x e c u t i v e v i c e p r e s i d e n t ) f
SUNBEAM FROPOSES DEBENTURE OFFERING Sunbeam C o r p o r a t i o n 5400 W R o o s e v e l t Rd Ch icago I l l 60650 f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26046) w i t h t h e SEC on March 1 s e e k i n g r e g i s t r a t i o n o f $50 000 000 o f s i n k i n g fund d e b e n t u r e s due 1992 The d e b e n t u r e s a r e t o be o f f e r e d f o r p u b l i c s a l e t h r o u g h u n d e r w r i t e r s headed by Goldman Sachs h Co 20 Broad S t New York 10005 and W i l l i a m B l a i r amp CO 135 S L a S a l l e S t Ch icago 1 1 1 60603 The i n t e r e s t r a t e p u b l i c o f f e r i n g p r i c e and u n d e r w r i t i n g t e rms a r e t o b e s u p p l i e d by amendment
The company m a n u f a c t u r e s p o r t a b l e househo ld a p p l i a n c e s Net p r o c e e d s o f i t s d e b e n t u r e s a l e w i l l b e used t o r educe s h o r t - t e r m bor rowings I n a d d i t i o n t o i n d e b t e d n e s s t h e company h a s o u t s t a n d i n g 7 422 534 conunon s h a r e s R P Gwinn i s p r e s i d e n t
DGampO CO MANAGEMENT PROPOSES OFFERING BGM)Co Management Company 1014 P a t t e r s o n B l d g Denver Colo 80202 f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26047) w i t h t h e SEC on March 1 s e e k i n g r e g i s t r a t i o n o f $3 000 000 o f commitments t o i t s 1967 B u t t e s Gas and O i l E x p l o r a t i o n Program t o be o f f e r e d i n minimum commitments o f $10 000 ( s u b j e c t t o an o v e r e x p e n d i t u r e a s s e s s m e n t o f 5 and d e v e l o p m e n t a l e x p e n s e s o f a p p a r e n t l y p r o d u c t i v e p r o p e r t i e s )
Organized under Delaware law i n May 1966 t h e company w i l l engage B u t t e s Gas 61 O i l Co t o e x p l o r e f o r o i l and g a s p r i m a r i l y i n t h e C a l i f o r n i a Texas and t h e Mid-Cont inen t and Rocky Mountain a r e a s B u t t e s w i l l s u b s c r i b e t o a p a r t i c i p a t i o n e q u a l t o o n e - t h i r d o f t h e commitments o f a l l o t h e r p a r t i c i p a n t s The company has o u t s t a n d i n g 100 c a p i t a l s h a r e s which a r e owned i n e q u a l p r o p o r t i o n by J o h n B o r e t a and O t t o Hacke l p r e s i d e n t and v i c e p r e s i d e n ~ r e s p e c t i v e l y o f t h e company and o f B u t t e s
FOUR STOCK PLANS FILED Form S-8 r e g i s t r a t i o n s t a t e m e n t s have been f i l e d w i t h t h e SEC by t h e f o l l o w i n g companies s e e k i n g r e g i s t r a t i o n o f s e c u r i t i e s f o r o f f e r i n g under employee a n d o r o f f i c e r s t o c k p l a n s
Argus I n c o r p o r a t e d 5950 W Touhy Ave Ch icago 111 60648 ( F i l e 2-26044) (141 100 s h a r e s ) Uni t ed A i r c r a f t C o r p o r a t i o n 4 0 0 Main S t E a s t H a r t f o r d Conn 06108 ( F i l e 2-26045) (100000 s h a r e s )
Two a d d i t i o n a l s t o c k p l a n s were f i l e d on Form S - 1 a s f o l l o w s West inghouse E l e c t r i c C o r p o r a t i o n 3 Gateway C e n t e r P i t t s b u r g h Pa 15230 ( F i l e 2 -26048- 300 000 s h a r e s )
( F i l e 2-26049 - 2 0 0 0 0 0 0 s h a r e s )
IKVINGTON PLACE FILES FINANCING PROPOSAL I r v i n g t o n P l a c e I n c 1407 Broadway New York 10018 f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26035) w i t h t h e SEC on F e b r u a r y 28 s e e k i n g r e g i s t r a t i o n o f $600 000 o f 6 s u b o r d i n a t e d c o n v e r t i b l e d e b e n t u r e s due 1975 and 6 0 0 0 0 s h a r e s o f common s t o c k The s e c u r i t i e s a r e t o be o f f e r e d f o r p u b l i c s a l e i n u n i t s c o n s i s t i n g o f $ 1 0 0 0 o f d e b e n t u r e s and 100 common s h a r e s t h r o u g h Shaskan amp C c I n c 67 Broad S t New Ycrk 10004 The p u b l i c o f f e r i n g p r i c e ( $ 1 5 0 0 p e r u n i t maximum) and u n d e r w r i t - i n g terms a r e t o be s u p p l i e d by amendment The company h a s s o l d t o t h e u n d e r w r i t e r f o r $150 t h r e e - y e a r w a r r a n t s t o p u r c h a s e 1 5 0 0 0 s h a r e s o f c o m o n s t o c k
The r e g i s t r a t i o n s t a t e m e n t a l s o c o v e r s 3 0 0 0 0 o u t s t a n d i n g s h a r e s o f c o m o n s t o c k which t h e p r e s e n t h o l d e r s may o f f e r f o r p u b l i c s a l e f rom t ime t o t i m e i n t h e o v e r - t h e - c o u n t e r m a r k e t
The company is p r i n c i p a l l y engaged i n t h e d e s i g n m a n u f a c t u r e and s a l e o f medium-priced young f a s h i o n m e r c h a n d i s e Of t h e n e t p r s c e e d s o f i t s s a l e o f a d d i t i o n a l s e c u r i t i e s $200 000 w i l l be used t o r epay a bank l o a n $350 000 w i l l he used f o r e x p a n s i o n p u r p o s e s and t h e b a l a n c e w i l l be added t o g e n e r a l f u n d s I n a d d i - t i o n t o i n d e b t e d n e s s t h e company h a s o u t s t a n d i n g 240 000 c o m o n s h a r e s a l l owned by management o f f i c i a l s The p r o s p e c t u s l i s t s f o u r s e l l i n g s t o c k h o l d e r s i n c l u d i n g I r v i n g Rothman p r e s i d e n t and board cha i rman Kothman p r e s e n t l y owns 67 of t h e companys o u t s t a n d i n g s t o c k
SHE HAUNTS ME PLAY CO FILES FOR OFFERING The She Haunts Me P l a y Company c o Fima Noveck 619 W 5 4 t h S t New York f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26043) w i t h t h e SEC on F e b r u a r y 28 s e e k i n g r e g i s t r a t i o n o f $450000 o f i n t e r e s t s i n i t s l i m i t e d p a r t n e r s h i p The i n t e r e s t s a r e t o b e o f f e r e d f o r p u b l i c s a l e i n $ 9 0 0 0 u n i t s ( s u b j e c t t o a 20 o v e r c a l l )
The i s s u e r i s a p a r t n e r s h i p t o be formed under New York law f o r t h e purpose o f p r o d u c i n g a d r a m a t i c o - m u s i c a l p l a y p r e s e n t l y e n t i t l e d She Haunts Me a n a d a p t a t i o n o f a n o v e l w r i t t e n by Mrs J o s e p h i n e A C L e s l i e (under t h e pen name o f R A Dick) t i t l e d The Ghost and Mrs Muir The p l o t c o n c e r n s a young widow who r e n t s a n i s o l a t e d c o t t a g e and h e r e n c o u n t e r s w i t h t h e g h o s t o f t h e p r e v i o u s owner who h a u n t s t h e c o t t a g e Rober t Kolc i s t h e composer R icha rd F Cur ry and J o a n J a v i t s l y r i c i s t s and John O t t t h e b o o k w r i t e r The p l a y i s t o be produced by t h e g e n e r a l p a r t n e r Fima Noveck
LOCKHEED FILES FINANCING PROPOSAL Lockheed A i r c r a f t C o r p o r a t i o n 2555 Nor th Hollywood Way Burbank C a l i f 91503 today f i l e d a r e g i s t r a t i o n s t a t e m e n t ( F i l e 2-26052) w i t h t h e SEC s e e k i n g r e g i s t r a t i o n o f $ 1 2 5 0 0 0 ~ c o n v e r t i b l e s u b o r d i n a t e d d e b e n t u r e s due 1992 The d e b e n t u r e s a r e t o be o f f e r e d f o r p u b l i c s a l e t h r o u g h a d e r w r i t e r s headed by B l y t h amp Co I n c 14 Wall S t New York 10005 t h e i n t e r e s t r a t e p u b l i c o f f e r - i n g p r i c e and u n d e r w r i t i n g terms a r e t o be s u p p l i e d by amendment
CONTINUED
SEC NEWS DIGEST MlRCH 2 1967 Pa 3
yt middot The capany i engaged in the deign manufacture and ale of aircraft and of aircraft and aero pace bull its buine bullbull 1a now prtmarily military A portion of the net proceeds of it debenture ale will be appliedto the retirement of outtanding bank loan (approximating $55 million) incurred in 1966 and early 1967 in connection with increases in both inventories and capital expenditures During 1966 the capany net invet-ment in inventories increased by approximately $39 million Capital expenditures totaled $71 illion an in-crease of approximately $35 illion over 1965 Capital expenditure in 1967 are expected to approximate thoae in 1966 The balance of the proceed may be used together with internally generated fund bullbull future bank financing and if required funds obtained from other ~ources for addition to property plant and equip-ment to advance the company position in the development production and sale of commercial aircraft in research development and teting to enable the company to continue to compete for aircraft mi bullbull ile and spaceand other Government programs and for other corporate purposes
In addition to indebtednes the company has outstanding lL153078 shares of which manage nt official own about 31 Courtlandt S Gross is board chairman and Daniel J Haughton president
MIDlAND-ROSS PROPOSES DEBIIITU1lB OFFBlUNG Midland-RoBS Corporation 55 Public Sq bullbull Cleveland Ohio 44113 filed a registration statement (File 2-26051) with the SEC on March 1 seeking regitration of $25000000 of inking fund debentures due 1992 The debentures are to be offered for public ale throughunderwriters headed by Smith Barney amp Co Inc 20 Broad St bullbull New York 10005 and Lehman Brother One William St bullbull New York 10004 The interest rate public offering price and underwriting ter are to be supplied by amendment
The company is engaged in the manufacture of products for the capital goods automotive railroad building and construction aerospace and defense and consumer goods industries Net proceed of it deben-ture sale together with internally generated funds and the proceeds of bank borrowings will be ued for general corporate purpoes The company expect that capital expenditures for expansion and tprov nt of its facilities will approxtmate $65000000 in 1967 and 1968 In addition to indebtedness and preferredstock the company has outstanding 5102910 common shares Wade N Harris is board chairman and David I Walbert is president
COIIfOIfWBALTB EDISON PROPOSES OFFBlUNG Coaonwealth Edison Company 72 W Ad St bullbull chicafi Ill 60690 today filed a registration statement (File 2-26055) with the SEC seeking registration of ~OOOOOOO of first mortgage bonds Series Y due 1997 to be offered for public sale at competitive bidding Net pro-ceeds of its bond ale will be added to working capital for ultimate application in connection with the com-panys construction program etimated to cost $1020000000 for the five-year period 1967-1971
llBCIRT FORM 8-K FILINGS The companies listed below have filed Form 8-K reports for the month indicated and responding to the itea of the Form pecified in parentheses Photocopies thereof may be purchaed from
the COIIIIlibullbull ion Public Reference Section (pleae give New Digests Issue No in ordering) Invoice will be included with the requeted material when mailed An index of the captions of the several ite of the form was included in the March 1 News Digest
General Life Of Missouri Investment Co Dec 66 (1) 0-2191-2
General Stores Corp Jan 67 (4713) 1-3136-2 Investors Security Corp Jan 67 (1) 0-1972-2 LAiglon Apparel Inc Jan 67 (791213) 1-3497-2 May Dept Stores Co Jan 67 (8) 1-79-2 May Stores Realty Corp Jan 67 (8) 1-4044-2 Mayflower Life Ins Co of Mich Jan 67 (12)
2-23599-2 tWood Corp Jan 67 (7) 1-5122-2 Merchants Refrigerating Co Feb 67 (713) 1-4029-2 ~
MOrrison-Knudsen Co bullbull Inc Sept 65 (713) 0-880-2
General Life of Missouri Investment Co Amend 1 for Dec 66 (1) 0-2191-2
SECUUrus ACT aBGlSlIATIONS Effective March 1 Data Procesdng Financial and General Corp 2-25924 (40 days) Dlverified Metals Corp bullbull 2-25930 (Apr 10) Omni Spectra Inc bullbull 2-25788 (June 1) ffective March 2 Aero Syt Inc bullbull 2-25903 (90 days) Dynell Electronics Corp 2-25861 (90 days) Withdrawn Match 1 A ampB Gold Silver HIne Inc bullbull 2-25975 Carl W Birky et al Organizers (OvereaInvestment Ltd to be Formed) 2-23884 Savannah Inn amp Country Club Inc bullbull 2-25645
NOTE to DJALBIS be period of time dealers are required to ue the propectus in trading transactiona 1s shown above in parenthee after the name of the ibullbulluer
A ettaampted for purpoe of coaputinl the registration fee
---0000000---
SEC NEWS DIGEST MlRCH 2 1967 Pa 3
yt middot The capany i engaged in the deign manufacture and ale of aircraft and of aircraft and aero pace bull its buine bullbull 1a now prtmarily military A portion of the net proceeds of it debenture ale will be appliedto the retirement of outtanding bank loan (approximating $55 million) incurred in 1966 and early 1967 in connection with increases in both inventories and capital expenditures During 1966 the capany net invet-ment in inventories increased by approximately $39 million Capital expenditures totaled $71 illion an in-crease of approximately $35 illion over 1965 Capital expenditure in 1967 are expected to approximate thoae in 1966 The balance of the proceed may be used together with internally generated fund bullbull future bank financing and if required funds obtained from other ~ources for addition to property plant and equip-ment to advance the company position in the development production and sale of commercial aircraft in research development and teting to enable the company to continue to compete for aircraft mi bullbull ile and spaceand other Government programs and for other corporate purposes
In addition to indebtednes the company has outstanding lL153078 shares of which manage nt official own about 31 Courtlandt S Gross is board chairman and Daniel J Haughton president
MIDlAND-ROSS PROPOSES DEBIIITU1lB OFFBlUNG Midland-RoBS Corporation 55 Public Sq bullbull Cleveland Ohio 44113 filed a registration statement (File 2-26051) with the SEC on March 1 seeking regitration of $25000000 of inking fund debentures due 1992 The debentures are to be offered for public ale throughunderwriters headed by Smith Barney amp Co Inc 20 Broad St bullbull New York 10005 and Lehman Brother One William St bullbull New York 10004 The interest rate public offering price and underwriting ter are to be supplied by amendment
The company is engaged in the manufacture of products for the capital goods automotive railroad building and construction aerospace and defense and consumer goods industries Net proceed of it deben-ture sale together with internally generated funds and the proceeds of bank borrowings will be ued for general corporate purpoes The company expect that capital expenditures for expansion and tprov nt of its facilities will approxtmate $65000000 in 1967 and 1968 In addition to indebtedness and preferredstock the company has outstanding 5102910 common shares Wade N Harris is board chairman and David I Walbert is president
COIIfOIfWBALTB EDISON PROPOSES OFFBlUNG Coaonwealth Edison Company 72 W Ad St bullbull chicafi Ill 60690 today filed a registration statement (File 2-26055) with the SEC seeking registration of ~OOOOOOO of first mortgage bonds Series Y due 1997 to be offered for public sale at competitive bidding Net pro-ceeds of its bond ale will be added to working capital for ultimate application in connection with the com-panys construction program etimated to cost $1020000000 for the five-year period 1967-1971
llBCIRT FORM 8-K FILINGS The companies listed below have filed Form 8-K reports for the month indicated and responding to the itea of the Form pecified in parentheses Photocopies thereof may be purchaed from
the COIIIIlibullbull ion Public Reference Section (pleae give New Digests Issue No in ordering) Invoice will be included with the requeted material when mailed An index of the captions of the several ite of the form was included in the March 1 News Digest
General Life Of Missouri Investment Co Dec 66 (1) 0-2191-2
General Stores Corp Jan 67 (4713) 1-3136-2 Investors Security Corp Jan 67 (1) 0-1972-2 LAiglon Apparel Inc Jan 67 (791213) 1-3497-2 May Dept Stores Co Jan 67 (8) 1-79-2 May Stores Realty Corp Jan 67 (8) 1-4044-2 Mayflower Life Ins Co of Mich Jan 67 (12)
2-23599-2 tWood Corp Jan 67 (7) 1-5122-2 Merchants Refrigerating Co Feb 67 (713) 1-4029-2 ~
MOrrison-Knudsen Co bullbull Inc Sept 65 (713) 0-880-2
General Life of Missouri Investment Co Amend 1 for Dec 66 (1) 0-2191-2
SECUUrus ACT aBGlSlIATIONS Effective March 1 Data Procesdng Financial and General Corp 2-25924 (40 days) Dlverified Metals Corp bullbull 2-25930 (Apr 10) Omni Spectra Inc bullbull 2-25788 (June 1) ffective March 2 Aero Syt Inc bullbull 2-25903 (90 days) Dynell Electronics Corp 2-25861 (90 days) Withdrawn Match 1 A ampB Gold Silver HIne Inc bullbull 2-25975 Carl W Birky et al Organizers (OvereaInvestment Ltd to be Formed) 2-23884 Savannah Inn amp Country Club Inc bullbull 2-25645
NOTE to DJALBIS be period of time dealers are required to ue the propectus in trading transactiona 1s shown above in parenthee after the name of the ibullbulluer
A ettaampted for purpoe of coaputinl the registration fee
---0000000---
