12
Issue 90-244 December 19, 1990 CIVIL PROCEEDINGS BARRY KING AND WELLESLEY MORTGAGE CORP. PERMANENTLY ENJOINED The Boston Regional Office announced that on December 12 Judge Harrington of the U.S. District Court for Massachusetts permanently enjoined Wellesley Mortgage Corporation (WMC) , and Barry L. King (King), King d/b/a First Mortgage of Wellesley (FMW) and Lee Realty Trust (Lee) from violating the antifraud and registration provisions of the Securities Act, Exchange Act and Advisers Act. King was also ordered to comply with the terms of a Commission bar order. The defendants consented to the Order without admitting or denying the complaint's allegations. WMC, FMW and Lee were ordered to provide restitution to investors from the proceeds of their liquidation, under the supervision of Ronald L. Cheney, Esq., who was appointed special agent. Pending a court-ordered accounting, the issue of whether King must disgorge additional monies was reserved. The complaint alleged that the defendants, by offering unregistered interests in a mortgage pool, operated as an unregistered investment adviser, violated the registration and antifraud provisions of the securities laws and violated the terms of the Commission's bar. [SEC v. Wellesley Mortgage Corporation, et al., No. 90-12347H] (LR-12738) DALE R. DARGIE CONSENTS TO INJUNCTION The Commission announced the filing on December 18 of a Complaint for Permanent Injunction in the U.S. District Court for the District of Colorado against Dale R. Dargie (Dargie) alleging that he violated Section l7(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-S thereunder. The complaint alleges that Dargie, while co-managing the Wellington, Florida branch office of Allied Capital Group, Inc., implemented a number of fraudulent sales practices under the supervision and control of others. Without admitting or denying the allegations of the complaint, Dargie consented to the entry of a Final Judgment of Permanent Injunction permanently enjoining him from violating Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-S thereunder and ordering him to disgorge $50,000. [SEC v. Dale R. Dargie, USDC for the District of Colorado, Civil Action No. 90-2223, December 18, 1990] (LR-12739) LIBRARY DEC 211990 U.S. SECURITIES AND EXCHANGE COMMISSION

SEC News Digest, 12-19-1990 · Issue 90-244 December 19, 1990 CIVIL PROCEEDINGS BARRY KING AND WELLESLEY MORTGAGE CORP. PERMANENTLY ENJOINED The Boston Regional Office announced that

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Issue 90-244 December 19, 1990

CIVIL PROCEEDINGS

BARRY KING AND WELLESLEY MORTGAGE CORP. PERMANENTLY ENJOINED

The Boston Regional Office announced that on December 12 Judge Harrington of the U.S. District Court for Massachusetts permanently enjoined Wellesley Mortgage Corporation(WMC) , and Barry L. King (King), King d/b/a First Mortgage of Wellesley (FMW) and Lee Realty Trust (Lee) from violating the antifraud and registration provisions of the Securities Act, Exchange Act and Advisers Act. King was also ordered to comply with the terms of a Commission bar order. The defendants consented to the Order without admitting or denying the complaint's allegations.

WMC, FMW and Lee were ordered to provide restitution to investors from the proceedsof their liquidation, under the supervision of Ronald L. Cheney, Esq., who was appointed special agent. Pending a court-ordered accounting, the issue of whether King must disgorge additional monies was reserved. The complaint alleged that the defendants, by offering unregistered interests in a mortgage pool, operated as an unregistered investment adviser, violated the registration and antifraud provisionsof the securities laws and violated the terms of the Commission's bar. [SEC v. Wellesley Mortgage Corporation, et al., No. 90-12347H] (LR-12738)

DALE R. DARGIE CONSENTS TO INJUNCTION

The Commission announced the filing on December 18 of a Complaint for Permanent Injunction in the U.S. District Court for the District of Colorado against Dale R. Dargie (Dargie) alleging that he violated Section l7(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-S thereunder. The complaint alleges that Dargie, while co-managing the Wellington, Florida branch office of Allied Capital Group, Inc., implemented a number of fraudulent sales practices under the supervision and control of others. Without admitting or denyingthe allegations of the complaint, Dargie consented to the entry of a Final Judgmentof Permanent Injunction permanently enjoining him from violating Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-S thereunder and ordering him to disgorge $50,000. [SEC v. Dale R. Dargie, USDC for the District of Colorado, Civil Action No. 90-2223, December 18, 1990] (LR-12739)

LIBRARY DEC 211990

U.S. SECURITIES AND EXCHANGE COMMISSION

CRIMINAL PROCEEDINGS

JAMES LAIACONA PLEADS GUILTY

The Atlanta Regional and Miami Branch Offices and Dexter Lehtinen, U.S. Attorney for the Southern District of Florida, announced that on December 3 James A. Laiacona (Laiacona) pleaded guilty in the U.S. District Court for the Southern District of Florida to one count of a four-count indictment charging him with mail fraud, one count of a fifteen count indictment charging him with securities fraud and to an information charging him with one count of income tax evasion.

One indictment charged Laiacona with four counts of mail fraud in violation of Title 18, United States Code, Section 1341 and alleged that Laiacona engaged in a scheme to commit securities fraud while in control of R.H. Stewart, Inc., a securities broker-dealer. One indictment charged Laiacona with fifteen counts of securities fraud in violation of Title 15, United States Code, Section 77q(a) and 77x and allegedthat Laiacona engaged in a scheme to commit securities fraud in connection with sales of the stock of American Assurance Underwriters Group, Inc. Laiacona faces a maximum of thirteen years in federal prison and $351,000 in fines. Laiacona is scheduled to be sentenced on February 15, 1991. [U.S. v. James A. Laiacona, Case No. 90-6057-CR-PAINE and Case No. 90-6030-CR-ROETTGER] (LR-12740)

INVESTMENT COMPANY ACT RELEASES

ASA LIMITED

A notice has been issued giving interested persons until January 14, 1991 to requesta hearing on an application filed by ASA Limited for an order under Section 7(d) of the Investment Company Act permitting it to amend its charter and by-laws, along with its custodian and subcustodian agreements, where appropriate, to allow for: (a) an increase from $75,000 to $200,000 in the amount of cash applicant can hold outside of the custody of a United States custodian to cover administrative expenses; (b) the ability to invest up to 5% of its assets in interest-bearing bank accounts with "eligible foreign custodians" or "overseas branches of qualified United States banks," as those terms are defined in Rule l7f-5 under the Act; and (c) certain changes in the composition and operation of applicant's board of directors. (ReI. IC-17904;International Series ReI. No. 209 - December 17)

SHEARSON LEHMAN BROTHERS EQUITY PORTFOLIOS, SHEARS ON LEHMAN BROTHERS INCOME PORTFOLIOS,SLH INVESTMENT PORTFOLIOS INC.

A conditional order has been issued under Section 6(c) of the Investment Company Act amending an existing order exempting Shears on Lehman Brothers Equity Portfolios,Shears on Lehman Brothers Income Portfolios and SLH Investment Portfolios Inc. from the provisions of Section 22(d) of the Act and from Rule 22c-1 thereunder. The order permits the applicants to (a) assess a contingent deferred sales charge different from that described in the existing orders upon redemption of their shares purchased bycertain retirement plans qualified under Section 401(k) of the Internal Revenue Code of 1986, and (b) waive this contingent deferred sales charge under specifiedcircumstances. (ReI. IC-17905 - December 18)

NEWS DIGEST, December 19, 1990 2

HOLDING COMPANY ACT RELEASES

THE SOUTHERN COMPANY

An order has been issued authorizing a proposal by The Southern Company (Southern),a registered holding company, and its wholly owned electric public-utility subsidiarycompanies, Alabama Power Company (Alabama Power) and Georgia Power Company (GeorgiaPower) to form and capitalize Southern Nuclear Operating Company (SONOPCO), as a direct wholly owned Delaware service company subsidiary to act as a system-wide agentfor the purpose of consolidating personnel who will provide, under service agreementsentered into by SONOPCO and Alabama Power and SONOPCO and Georgia Power, nuclear operation, technical and administrative services. SONOPCO has also been authorized through December 31, 1990 to issue and sell up to $5 million of its common stock to,and receive up to $15 million in open account advances (Advances) from, Southern. At Southern's option, the Advances may be converted into capital contributions or shares of SONOPCO's common stock. (35-25212)

MAINE YANKEE ATOMIC POWER COMPANY

A notice has been issued giving interested persons until January 7, 1991 to requesta hearing on a proposal by Maine Yankee Atomic Power Company, an indirect nuclear electric generating subsidiary of Northeast Utilities and of New England Electric System, both registered holding companies, to issue and sell from time to time throughDecember 31, 1993 short-term notes and commercial paper in an aggregate amount at anyone time outstanding of $21 million, pursuant to an exception from competitivebidding. (35-25214)

SOUTHERN ELECTRIC GENERATING COMPANY

A notice has been issued giving interested persons until January 7, 1991 to requesta hearing on a proposal by Southern Electric Generating Company (SEGCO) and the equalholders of 100% of its outstanding common stock, Alabama Power Company (Alabama) and Georgia Power Company (Georgia), subsidiary companies of Southern Company, a registered holding company, to refinance pollution control facilities at the Ernest C. Gaston Steam Plant near Wilsonville, Alabama, which is owned by SEGCO, in the aggregate amount of $26 million through an agreement (Agreement) with the Industrial Development Board of Wilsonville, Alabama to issue pollution control revenue bonds (Bonds). SEGCO also proposes to enter into an agreement with a Bank to issue an irrevocable letter of credit to meet the payment obligations of the Bonds. Alternatively, SEGCO proposes to obtain an insurance policy guaranteeing the paymentwhen due of the principal of and interest on such Bonds. Alabama proposes to guarantee SEGCO's payment obligations under the Agreement. Georgia proposes to agreeby letter to reimburse Alabama pro rata for payments made by Alabama under anyguaranty. (ReI. 35-25214)

NEWS DIGEST, December 19, 199b 3

ENERGY INITIATIVES

A notice has been issued giving interested persons until December 10, 1990 to requesta hearing on a proposal by Energy Initiatives, Incorporated (Ell), a wholly owned indirect subsidiary company of General Public Utilities Corporation, a registeredholding company, to extend the time period during which Ell is authorized to issue,sell and renew up to $5 million of its unsecured promissory notes to commercial banks pursuant to informal lines of credit, from December 31, 1990 to December 31, 1992. (ReI. 35-25215)

NATIONAL FUEL GAS COMPANY

An order has been issued authorizing National Fuel Gas Company, a registered holdingcompany, to issue and sell from time to time through October 31, 1995, under an exception from competitive bidding, up to 1 million shares of its authorized but unissued shares of common stock to its Customer Stock Purchase Plan. (ReI. 35-25216)

EASTERN UTILITIES ASSOCIATES

An order has been issued authorizing Eastern Utilities Associates, a registeredholding company and its subsidiary companies, EUA Ocean State Corporation (EUA-OS),Newport Electric Corporation and Newport Electric Power Corporation (Newport Power)to merge Newport Power with and into EUA-OS in accordance with the terms of a mergeragreement between EUA-OS and Newport Power (Merger). Upon consummation of the Merger, EUA-OS will be the surviving corporation and the common stock of EUA-OS outstandingimmediately prior to the consummation of the Merger will constitute all of the issued and outstanding common stock of the surviving corporation. (ReI. 35-25217)

SELF-REGULATORY ORGANIZATIONS

APPROVAL OF PROPOSED RULE CHANGE

The Commission granted approval to a proposed rule change submitted by the Midwest Stock Exchange (SR-MSE-90-l0) to list and trade index warrants based on the CAC-40 Index, a capitalization-weighted index consisting of 40 leading stocks listed and traded on the Paris Bourse. (ReI. No. 34-28701; International Series ReI. No. 208)

PROPOSED RULE CHANGE

A proposed rule change has been filed under Rule 19b-4 of the Securities Exchange Act by the New York Stock Exchange (SR-NYSE-90-38) to establish rules to permit tradingin NYSE Equity Receipts and to prescribe trading in NYSE Equity Receipts based on the NYSE Composite Index. Publication of the notice is expected to appear in the Federal Register during the week of December 17. (ReI. 34-28703)

NEWS DIGEST, December 19, 1990 4

AMENDMENT TO PROPOSED RULE CHANGE

The National Association of Securities Dealers filed with the Commission Amendment No. 1 to the proposed rule change concerning the pilot operation of the NASDAQInternational Service (File No. SR-NASD-90-33). The amendment modifies the NASDAQInternational Service Rules to allow participation by certain United Kingdomaffiliates of NASD members. Publication of the order is expected in the Federal Register during the week of December 17. (ReI. 34-28705)

PROPOSED AMENDMENT TO NASDAQ/NMS TRANSACTION REPORTING PLAN

The National Association of Securities Dealers filed with the Commission, under Rules llAa3-l and llAa3-2 of the Securities Exchange Act, an amendment to the NASDAQ/NMStransaction reporting plan to address transaction reporting in NASDAQ/NMS and exchange-listed securities quoted in the NASDAQ International Service. Publication of the notice is expected in the Federal Register during the week of December 18. (Rel. 34-28708)

SECURITIES ACT REGISTRATIONS

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 managingunderwriter or depositor (if applicable); File number and date filed; Assigned Branch;and a designation if the statement is a New Issue.

S-1 WESTERN ENERGY MANAGEMENT INC, 5777 MADISON AVE STE 430, SACRAMENTO, CA 95841 (916) 331-2882 - 4,176,084 ($12,528,252) COMMON STOCK. UNDERWRITER:TAMARON INVESTMENTS INC. (FILE 33-38151 - DEC. 10) (BR. 6 - NEW ISSUE)

S-1 WORLD TIE CORPORATION, 7901 E BELLEVIEW AVE 230, ENGLEWOOD, CO 80111 (303) 329-8500- 450,000 ($4,500,000) COMMON STOCK. 450,000 ($4,500,000) COMMON STOCK. 10,000($10,000) COMMON STOCK. (FILE 33-38183 - DEC. 10) (BR. 7 - NEW ISSUE)

S-4 PUBLIC STORAGE PROPERTIES XX INC, 1015 GRANDVIEW AVENUE, GLENDALE, GA 91201(818) 244-8080 - 1,044,874 ($17,982,281) COMMON STOCK. (FILE 33-38184 - DEC. 11)(BR. 4 - NEW ISSUE)

F-6 MEDEVA PLC, 48B WALL ST, NEW YORK, NY 10286 (212) 495-1727 - 50,000,000($5,000,000) DEPOSITARY RECEIPTS FOR COMMON STOCK. (FILE 33-38186 - DEC. 11)(NEW ISSUE)

S-3 LDDS COMMUNICATIONS INC ITNI, 4780 I-55 NORTH STE 500, JACKsoN, MS 39211 (601) 987-4900 - 123,750 ($1,964,531) COMMON STOCK. (FILE 33-38187 - DEC. 11) (BR. 7)

NEWS DIGEST, December 19, 1990 5

REGISTRATIONS CONTINUED

5-8 VENCOR INC, BROWN & WILLIAMSON TWR STE 700, LOUISVILLE, KY 40202 (502) 569-7300 -200,000 ($3,000,000) COMMON STOCK. (FILE 33-38188 - DEC. 11) (BR. 5)

5-8 AMERICAN CITY BUSINESS JOURNALS INC, 128 S TRYON ST STE 2200, CHARLOTTE, NC 28202 (704) 375·7404 - 300,000 ($5,485,875) COMMON STOCK. (FILE 33-38189 - DEC. 11) (BR. 12)

5-3 FIRST COMMERCIAL CORP, 400 WEST CAPITOL AVE, LITTLE ROCK, AR 72201 (501) 371-7000 -400,000 ($6,300,000) COMMON STOCK. (FILE 33-38190 - DEC. 11) (BR. 1)

5-8 DYNASTY CLASSICS CORP, 22333 5 WILMINGTON AVE, CARSON, CA 90745 (213) 834-3637 -547,500 ($2,805,937.50) COMMON STOCK. (FILE 33-38191 - DEC. 11) (BR. 3)

5-8 ALCO STANDARD CORP, POBOX 834, VALLEY FORGE, PA 19482 (215) 296-8000 - 400,000($13,124,000) COMMON STOCK. (FILE 33·38192 - DEC. 11) (BR. 7)

S-8 ALCO STANDARD CORP, POBOX 834, VALLEY FORGE, PA 19482 (215) 296-8000 - 2,000,000($65,620,000) COMMON STOCK. (FILE 33-38193 - DEC. 11) (BR. 7)

ACQUISITION OF SECURITIES

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 beneficialinterest therein exceeds five percent. Persons eligible to use the short form (Schedule l3G) may in lieu of filing a Schedule l3D file a Schedule l3G within 45 days after the end of the calendar year in which the person became subject to Section l3(d)(1). Companies and individuals making a tender offer must have on file at the time the tender offer commences a Schedule l4D-1.

Below is a list of recent filings of Schedules 13D and l4D, which includes the following information: Column 1 - the company purchased (top), and the name of the purchaser; Column 2 - the type of security purchased; 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 number (top) and the percent owned; and Column 7 - the status of the filing, i.e., new, update or revision.

NAME AND CLASS OF STOCK/OWNER FORM EVENT

DATE SHRS(Ooo)/

%OWNED CUSIP/PRIORX

FILING STATUS

ALLIED RESH CORP COM 486 01948310 AL AZZAWI KUSAI H M 130 12/ 7/90 12.0 10.2 UPOATE

AMERICAN GENERAL CORP COM AMERICAN FINANCIAL CORP ET AL 130 12/11/90

7,0835.9

02635110 7.2 UPDATE

NEWS DIGEST, December 19, 1990 6

ACQUISITIONS CONT.

NAME AND CLASS OF STOCK/OWNER EVENT SHRS(OOO)/ CUSIP/ FILING

FORM DATE XOWNED PRIORX STATUS

AMERICAN INTL PETROLEUM CORP COM 5,767 02690920 METALLGESELLSCHAFT CORP ET AL 130 12/ 4/90 16.1 8.7 UPDATE

AMTECH CORP COM 108 03232910MITSUBISHI INTL 130 11113/90 1.7 1.7 UPDATE

ASIA PAC FD INC COM 422 04490110 HARRIS ASSOCIATES INC 130 12/ 5/90 4.9 5.4 UPDATE

BARTON INOS INC COM 1,147 06956710 CAMARDA JACK J 130 12/11/90 7.2 7.7 UPDATE

CBS INC COM 5,857 12484510LOEWS CORP 130 12/12/90 24.7 22.3 UPDATE

CSC INDS INC COM 1,920 12631210MARUBEN I CORP 130 12/14/90 22.2 0.0 NEW

CAROLINA FREIGHT CORP COM 399 143898105.0STATE OF WISCONSIN INVEST BD 130 12/ 4/90 6.1 UPDATE

CATELLUS DEV CORP COM 11,010 14911110CALIF PUBL EMPL RET SYS ET AL 130 12/ 4/90 0.0 NEW20.4

CATELLUS DEV CORP COM 8,064 14911110OLYMPIA & YORK DEV ET AL 130 12/ 4/90 14.9 0.0 NEW

CHRYSLER CORP COM 22,000 17119610KERKORIAN KIRK ET AL 130 12/10/90 9.8 0.0 NEW

CIRCON CORP COM 266 17273610FMR CORP 130 111 5/90 5.0 0.0 NEW

CIVIC BANCORP COM 200 178788107.0 UPDATECARR DON 130 11/ 7/90 8.4

COLLECTIVE BANCQRP INC COM 581 19390110TIGER ET AL 130 12/ 5/90 6.7 5.6 UPDATE

COMERICA INC COM 1,344 20034010FMR CORP 130 121 5/90 8.1 7.0 UPDATE

COMPONENT GUARD INC COM 1,580 20454110EXPERTA THEUHAND AG 130 9/17/90 7.5 7.1 UPDATE

DEPRENYL RESH LTD COM 1,097 24999210SHULMAN MORTON 130 12/ 6/90 15.9 0.0 NEW

NEWS DIGEST, December 19, 1990 7

ACQUISITIONS CONT.

EVENT SHRS(OOO)/ CUSIP/ FILING NAME AND CLASS OF STOCK/OWNER FORM DATE XOWNED PRIOR" STATUS

ELECTRONIC ARTS COM 624 28551210FMR CORP 130 12/ 4/90 6.6 0.0 NEW

THE EXPLORATION CO LA INC COM 7,541 30213410FMR CORP 130 11/20/90 8.8 0.0 NEW

FAIRMOUNT CHEM INC COM 6,315 3054n10 PHOENIX CHEMICAL CO 130 12/ 5/90 86.6 72.9 UPOATE

FEDERAL NATL MTG ASSN COM 23,630 31358610FMR CORP 130 11!30/9O 9.9 11.1 UPDATE

GENERAL EMPLOYMENT ENTERPRIS COM 194 36973010CHAVIN LEONARD ET AL 130 12/10/90 12.2 11.4 UPDATE

HORIZON INDS INC COM N/A 44042310STATE OF WISCONSIN INVEST SO 130 7/27/90 N/A 6.0 UPOATE

HOUSE FABRICS INC COM 826 44175810FMR CORP 130 12/ 6/90 14.2 15.6 UPDATE

IMCERA GROUP INC COM 1,949 45245410FMR CORP 130 12/ 5/90 8.6 9.6 UPOATE

LVI GROUP INC COM 2,594 50243910GAMCO INVESTORS INC ET AL 130 12/12/90 12.1 13.5 UPDATE

LVI GROUP INC PFD CV $2.0625 310 50243930GAMCO INVESTORS INC ET AL 130 12/13/90 46.6 50.8 UPDATE

MANPOWER PLC SPONSORED ADR 5,227 56418320STATE OF WISCONSIN INVEST SO 130 12/ 4/90 7.2 6.9 UPDATE

MATTHEWS STUDIO EQUIP GROUP COM 385 5m3099 FARAR YALE 130 9/25/90 4.8 5.6 UPDATE

MEDICIS PHARMACEUTICAL CORP CL A 1,526 58469010DAVIS J MORTON ET AL 130 12/ 4/90 5.1 6.0 UPOATE

MEDIAGENIC COM NEW 1,039 58499620BHK TECHNOLOGIES CORP ET AL 130 12/ 6/90 24.5 0.0 NEW

OFFICE DEPOT INC COM 3,386 67622010CARRE FOUR NEDERLAND B V 130 11/26/90 22.0 19.7 UPDATE

OPTICORP CUM CONV PFD STK 0 6838mO STAHLIE JAN H ET AL 130 11/30/90 0.0 N/A UPDATE

8 NEWSDIGEST. December 19. 1990

ACQUISITIONS CONT.

EVENT SHRS(OOO)/ CUSIP/ FILING NAME AND CLASS OF STOCK/OWNER FORM DATE ~ED PRIORX STATUS

OUTLET COMMUNICATIONS INC CL A 4n 69011110SANDLER ASSOC ET AL 130 12/14/90 7.2 8.2 UPDATE

PS GROUP INC C04 1,208 69362410BUFFETT WARREN E ET AL 130 12/14/90 22.1 11.0 UPDATE

PERINI CORP COM 264 71383910HARRIS ASSOCIATES INC 130 12/ 5/90 6.8 7.8 UPDATE

PIC N SAVE CORP COM 5,704 71952210SOUTHEASTERN ASSET MGMT INC 130 12/11/90 18.0 16.7 UPDATE

PRIME MTR INNS LTD PARTNERSH DEPOSITRY RCPT 218 74156320EDGE PARTNERS ET AL 130 12/ 3/90 5.5 0.0 NEW

QUEBECOR INC CL B SUB VTG SHS 5,094 74819320BCE INC 130 11/ 8/90 63.5 62.5 UPDATE

RE CAP CORP COM 1,533 75490410DEERE JOHN INS CO 130 12/10/90 22.1 14.6 UPDATE

SANTA FE ENERGY RES INC COM 9,724 80201210OLYMPIA & YORK DEV ET AL 130 12/ 4/90 15.2 0.0 NEW

TUESDAY MORNING INC COM 200 89903710FMR CORP 130 12/ 5/90 5.0 0.0 NEW

ULTIMATE CORP COM 1,185 90384810ELOWITZ NORMAN 130 12/ 6/90 13.4 11.7 UPDATE

WCW WESTN CDA WTR ENTERPRISE COM 2,430 92999210MARMON THOMAS W 130 9/19/90 10.1 9.8 UPDATE

WOLF FINANCIAL GROUP COM 1,032 97771610DAVIS J MORTON 130 11/30/90 18.0 18.9 RVSION

RECENT 8K FILINGS

Form 8-K is used by companies to file current reports on the following events:

Item 1. Changes in Control of Registrant.Item 2. Acquisition or Disposition of Assets.Item 3. Bankruptcy or Receivership.Item 4. Changes in Registrant's Certifying Accountant.Item 5. Other Materially Important Events.Item 6. Resignations of Registrant's Directors.Item 7. Financial Statements and Exhibits.

NEWS DIGEST, December 19, 1990 q

The companies listed below have filed 8-K reports for the date indicated and/oramendments to 8-K reports previously filed, responding to the item(s) of the form specified. Copies of the reports may be purchased from the Commission's Public Reference Room (when ordering, please give the date of the report). An invoice will be included with the requested material when mailed.

STATE 8K ITEM NO. NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 DATE COMMENT

SIERRA REAL ESTATE EQUITY TRUST 84 CO SLH MORTGAGE TRUST SERIES 1990-1 SLH MORTGAGE TRUST SERIES 1990-2 SPORTS ARENAS INC STANDARD CREDIT CARD TRUST 1990 4 STANDARD CREDIT CARD TRUST 1990-2 STANDARD CREDIT CARD TRUST 1990-3 SYSTONETICS INC TACOMA BOATBUILDING CO TEMPLETON VALUE FUND INC TEXAS INSTRUMENTS INC TODD SHIPYARDS CORP TOKHEIM CORP TRANSCO ENERGY CO TRANSCOLOR CORP TRC COMPANIES INC /DE/TUCSON ELECTRIC POWER CO TUCSON ELECTRIC POWER CO UDC UNIVERSAL DEVELOPMENT LP UNION PACIFIC CORP UNITED FINANCIAL GROUP INC/DEUNITED INVESTORS INCOME PROPERTIES UNITED INVESTORS INCOME PROPERTIES 2 UNITEL VIDEO INC/DEUNO RESTAURANT CORP VARCO INTERNATIONAL INC VERNON LILLIAN CORPORATION VINTAGE GROUP INC VISX CALIFORNIA INC VISX INC WESTERN GAS PROCESSORS LTD WESTERN GAS PROCESSORS LTD WESTERN GAS RESOURCES INC WESTERN GAS RESOURCES INC WILLIAMS CONTROLS INC WILLIAMS CONTROLS INC WISCONSIN POWER & LIGHT CO GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT GLENDALE FED BANK FED SAVINGS BANK MORT ABCO MARKETS INC /AZ/

NO DE DE DE DE DE DE CA WA

DE NY IN DE DE DE AZ AZ DE UT DE MO

MO

DE DE CA DE CO CA

DE CO CO CO CO DE DE WI

AZ

X X X X X X

X X X X X

X

X X X X

X X X X X

X

X

X X X

X

X

NO ITEMS X

X X X

X X X X X

X X X X X X

X X X

X

X X X X X X X X X X X X X X X X X X X X X X X X

X

X

X

X

X

10/26/9011/26/9011/26/9011/21/9011/15/9011/15/9011/15/9011/28/9012/03/9012/12/9012/11/9012/12/9011/30/9012/07/9011/20/9010/01/9011/28/9012/07/9012/06/9012/13/9012/05/9010/23/9010/23/9002/01/9011/14/9011/28/9012/03/9012/04/9011/27/9011/27/9011/30/9012/04/9011/30/9012/04/9011/21/9012/04/9012/07/9010/25/9010/25/9010/25/9010/25/9010/25/9010/25/9010/25/9010/25/9010/25/9010/25/9012/14/90

AMEND

AMEND

AMEND AMEND AMEND

AMEND

NEWS DIGEST, December 19, 1990 10

8K REPORTS CONT.

STATE 8K ITEM NO. NAME OF ISSUER COOE 1 2 3 4 5 678 DATE COMMENT ---------------------------------------- ..._--- .................. _- ... -------AMERICAN CAPITAL & RESEARCH CORP IDEI AMERICAN REALTY TRUST INC IGA ANGEL ENTERTAINMENT INC AP INDUSTRIES INC ASARCO INC AUTOINFO INC BAROID CORPORATION IDE

DE GA NY DE NJ DE DE

X X

X X X X X

X X X X X

X

11130/90 12/05190 12/03/90 11/26/9012/13/9010/31/90 12/03/90

BLOCKBUSTER ENTERTAI~ENT CORP BLOCKERS C A INC BOSTON CAPITAL TAX CREDIT FUND II LTD PA BOSTON FINANCIAL QUALIFIED HOUSING LTD P BOSTON FINANCIAL QUALIFIED HOUSING TAX C BOSTON FINANCIAL QUALIFIED HOUSING TAX C BULL RUN GOLD MINES LTD CALTON INC CAMERON CAPITAL CORP

DE DE DE DE DE DE IIA NJ UT

X

X

X

X

X X X X

X

X

X

X

12/14/9012/07190 11/30/9012/07190 12/07/90 12/07/90 11/29/9011/30/9007/30/90

CB&T FINANCIAL CORP CENTERCORE INC COOE ALARM INC CONSOLIDATED PROOUCTS INC /INI CONSTON CORP CONTINENTAL MEDICAL SYSTEMS INC /DEI COPLEY REALTY INCOME PARTNERS 4 CORCAP INC CR~AMERICA INC CYPRESS EQUIPMENT FUND LTD CYPRESS EQUIPMENT FUND LTD EMPLOYEE BENEFIT PLANS INC ENERGY VENTURES INC /DEI ENGINEERED SUPPORT SYSTEMS INC ENVIRONMENTAL SERVICES OF AMERICA INC EXCEL BANCORP INC EXECUTIVE TELECARD LTD

\IV

DE MI IN PA DE M4 NV GA FL FL DE DE MO

DE DE DE

X X X X

X

X

X X

X X X

X X

X X X X X X

X X

X X

X X X

12/12/9012/03/9012/12/9011/27/9011/01/9012/07/9012/13/9012/13/9011/29/9012/03/9012/07/9012/13/9011/29/9012/13/9012/10/9012/07/9011/06/90

AMEND

FCC NATIONAL BANK FIRST AMERICAN ENERGY INC FIRST NATIONAL BANK OF CHICAGO /USA/FORD MOTOR CREDIT CO GATEIIAY TAX CREDIT FUND II LTD

DE

DE FL

X X X X X X

X

X X

12/10/9012/13/9012/10/9012/17/9011/30/90

GMBS INC DE X X 11/30/90 HABEN INDUSTRIES INC HOLLYIIOOO PARK OPERATING CO HUBCO INC INTERACTIVE MEDIA TECHNOLOGIES LACLEDE STEEL CO IDEI L1NICON CORP LONE STAR INDUSTRIES INC MAGIC CIRCLE ENERGY CORP MAXPHARMA INC

INC

DE DE NJ AZ DE NV DE OK

TN

X X

X

X X

X

X X X

X X X X X

X

X

10/18/9011/16/9012/06/9012/03/9011/30/9007/27/9012/10/9012/0419011/15/90

NEWS DIGEST, D~cember 19, 1990 11

SK REPORTS CONT.

STATE 8K ITEM NO. NAME OF ISSUER COOE 12345678 DATE COMMENT -----------------.---------------------- --------------- _.------MCCAW CELLULAR COMMUNICATIONS INC MEDIQ INC MERRILL LYNCH CORPORATE PASS THROUGH SEC MONTANA PRECISION MINING LTD MULTIBANK FINANCIAL CORP MUNS INGWEAR INC NATIONAL HEALTH CARE SYSTEMS INC NATIONAL HOUSING PARTNERSHIP REALTY FUND

DE DE DE WA

MA DE CA II)

X

X X

X X X

X X

X X X

12/11/9012/07/9012/12/9012/06/9012/04/90 11/29/9012/05/9012/13/90

NATIONAL HOUSING PARTNERSHIP REALTY FUND II) X 12/13/90 NATIONAL HOUSING PARTNERSHIP REALTY FUND NATIONAL HOUSING PARTNERSHIP REALTY FUND

II)

II)

X X

12/13/90 12/13/90

NATIONAL PENN BANCSHARES INC PA X X X 11/30/90 NETWORD INC DE X X 11/30/90 NHP RETIREMENT HOUSING PARTNERS NOR TECH SYSTEMS INC OCCIDENTAL PETROLEUM CORP IDE/ OTTER TAIL POWER CO PACIFIC BELL PETROVEST INC PHILADELPHIA ELECTRIC CO

I LTD PA DE MN DE MN CA FL PA

X X X X

X X

X X

X X X X X

12/13/90 11/30/9012/10/90 12/05/9012/17/9012/03/9012/13/90

PHOTO MARKER CORP NY X X X X 08/14/90 PIONEER FINANCIAL SERVICES INC IDE PLAYERS INTERNATIONAL INC IDEI POLLUTION RESEARCH & CONTROL CORP ICAI PRIME MOTOR INNS LTD PARTNERSHIP

DE DE CA DE

X X X X X X X X

11/29/90 11/27/90 11/21/90 12/12/90

RAMTEK CORP RCSB FASTBACS 1988 1F GRANTOR TRUST RCSB 1989-A GRANTOR TRUST

CA

NY NY

X X X

12/03/9012/15/9012/17/90

RCSB 1990 B GRANTOR TRUST RCSB 199O-A GRANTOR TRUST REAL ESTATE EQUITIES CORP REFAC TECHNOLOGY DEVELOPMENT CORP

NY NY WA DE

X X

X X X

12/17/9012/17/9012/05/9012/10/90

REGAL INTERNATIONAL INC DE X 12/07190 RESIDENTIAL FUNDING MORTGAGE ROBINSON NUGENT INC

SECURITIES DE IN

X X

X 11/26/9011/30190

ROCHESTER COMMUNITY SAVINGS BANK NY X 12/15/90 ROCKING HORSE CHILD CARE CENTERS OF AMER DE X 12/06/90 SCHIELD MANAGEMENT CO CO X X 11/28/90 SHAWMUT NATIONAL CREDIT CARD TRUST 1990 NO ITEMS 11/08190 SMITH CORONA CORP SOCIETY FOR SAVINGS BANCORP INC

DE DE

X X

11/13/90 11/29/90

SYMBOLICS INC TNP ENTERPRISES INC

DE TX

X X

X X

11/30/90 12/10/90

UNITED HERITAGE CORP UT X X 11/28/90 US REALTY INCOME PARTNERS WASTE MANAGEMENT INC

LP DE DE

X X

X X

12/05/90 12/12190

WATERHOUSE INVESTOR SERVICES INC WILSON LEE ENGINEERING CO INC XSCRIBE CORP ICAI

DE OH CA X

X X X X

12/13/9012/03/90 11/29/90

YES CLOTHING CO CA X X 11/19/90

12 NEWS DIGEST, December 19, 1990