SECURITIES AND EXCHANGE COMMISSION p..ND~

~!EW~ IDU@IE~1r (~)A brief summary of financial proposals filed with and actions by the S.E.C. c:o~\~

Washington, D.C. 20549 ( In ord.ring full text of Releas.s from SEC Publication, Unit cite numlt.r )

FOR RELEASE June 6, 1969

(Issue 69-108)

SEC RENEWS FEDERAL OIL SUSPENSION OF TRADING. The SEC today announced the renewal of its suspension of over-the-counter trading in the common stock of Federal 011 Company, Salt Lake City, Utah, for the further ten-day period June 9 through June 18, 1969. Previously, on June 2, the Commission had announced that the suspension would terminate on June 8 and that trading could resume on June 9, 1969. The Commission's decision to terminate the trading suspension was based on an understanding that the company would mail an informational Ie tter to its shareholders at or about the same time as the Commission announced the termination of the suspension. It now appears that the company will not be able to mail its letter until Monday, June 9, 1969. The Commission deems the mailing of the company letter to shareholders to be essential for adequate dissemination of information about the company. Accordingly, the suspension will not terminate on June 8, 1969 as previously announced, but will be continued for the additional ten-day period June 9 through June 18, 1969. The suspension will now terminate on June 18, 1969, and over-the-counter trading in the common stock of Federal Oil Company may resume at the opening of business on June 19, 1969. Shareholders and prospective shareholders of Federal Oil Company and broker-dealers should refer to Release 34-8616 for information about the company.

KLONDIKE YUKON ADDED TO RESTRICTED LIST. The SEC has added Klondike Yukon Mining Company, Ottawa, Canada, to its Foreign Restricted List. The list is now comprised of 38 companies Whose securities the ~sion has reason to believe recently have been, or currently are being, offered for public sale and distribution in the United States in violation of the Securities Act registration provisions.

TWO TRADING SUSPENSIONS CONTINUED. The SEC today announced the suspension of trading in the securities of Bartep Industries, Inc., and Photo Mark Computer Corporation for the further ten-day period June 9 through June 18, 1969.

1969 CAPITAL SPENDING PLANS REDUCED FROM EARLIER EXPECTATIONS. Business investment in new plant and equipment this year is expected to total $72.2 billion, 12-\ percent above 1968, according to the survey conducted in late April and May by the Department of Commerce and the Securities and Exchange CommisSion. Although substantially greater than last year's 4 percent increase, the currently projected rise for 1969 is somewhat below the 14 percent anticipated in February. Actual capital outlays in the opening quarter of 1969 were at a seasonally adjusted annual rate of $68.9 billion, up 4-~ percent from the final quarter of 1968, but only half the expected 9 percent advance reported by businessmen last February. Estimated spending for the April-June period has been raised to $72.0 billion, possibly reflecting some outlaysdeferred from the first quarter. This also represents a 4\ percent quarter-to-quarter gain. However, a more moderate expansion is currently scheduled for the second half of 1969 -- to $73~ billion in the July-September period and $74.0 billion in the final three months of the year.

The following table presents actual expenditures for the last two quarters of 1968 and the first quarter of 1969, and planned outlays for the remaining three quarters of this year:

1968 1969 3rd 4th bt 2nd 3rd 4th

Qtr. Qtr. Qtr. Qtr. Y Qtr. !J Qtr. Y (Seasonally adjusted annual rates in billions of dollars)

All industries 63.20 65.90 68.90 72.00 73.45 74.00

Manufacturing 26.65 26.85 28.20 30.30 30.75 30.45

Durable goods 13.65 13.90 15.00 15.85 16.00 15.50 Nondurable goods 13.05 12.95 13.20 14.45 14.75 14.90

Nonmanufacturing 36.50 39.00 40.70 41.70 42.70 43.55

!I Anticipated.

For further details, see Statistical Release No. 2366.

Over

l'age 2 SEC NEWS DIGEST, June 6, 1969

AMERICAN INTERNATIONAL PICTURES FILES FOR SECONDARY. American Inter~ational Pictu~es, Inc., 7165 29 Sunset Blvd., Hollywood, Calif., 90046 filed a registration statement (Flle 2-33282) wlth the SEC o~ Mayseeking registration of 300,000 shares of common stock, of which 162,500 are to be offered for publlc,sale bv the company and 137,500 (being outstanding shares) by the present holders thereof. The offen.ng is to be ~ade through underwriters headed by C.E. Unterberg, Towbin Co., 61 Broadway, .New York, N.Y. 10006; the offering price ($15 per share maximum*) and underwriting terms are to b~ su~plled b~ amendment.

The company is engaged in the production and co-production of, and acqulsltlon of rlghts to, feature pictures (pictures released initially for theatrical exhibition which run for an hour or. more). Net . proceeds of its sale of additional stock will be used for an expanded program of productlon and co-productlonof feature pictures and for the acquisition of rights to feature pictures produced by others and for general corporate purposes. In addition to indebtedness, the company has outstanding 1,020,000 common shares, of which Samuel Z. Arkoff, board chairman, owns 33.8%, James H. Nicholson, ~resident, 16.9% and management officials as a group 70.1%. Sylvia Nicholson (former wife of James H. Nlcholson) proposes to

sell 100,000 shares and Joseph Moritz 37,500 shares.

SCHOTTENSTEIN STORES TO SELL STOCK. Schottenstein Stores Corporation, 3251 Westerville Road, Columbus,Ohio, filed a registration statement (File 2-33288) with the SEC on May 29 seeking registra~ion of 100,000shares of common stock, to be offered for public sale through underwriters headed by The OhlO Company,51 North High St., Columbus, Ohio 43215. The offering price ($27.50 per share maxf.mum= ) and underwriting

terms are to be supplied by amendment. The company operates a chain of seven discount department stores and one furniture store in Ohio and

has additional stores and facilities planned. Net proceeds of its stock sale, together with $2,000,000from the net proceeds of 7l% debentures sold during 1968, are to be used in connection with its expansion program, estimated at $3,200,000, and inventory and other operating capital needs resulting fu)m the expansion program ($1,400,000); the balance will be added to the company's wor-king capital. In addition to indebtedness, and preferred stock, the company has outstanding 534,273 common shares, of which E.L.

Schottenstein & Sons, Inc. owns 65% 2nd management officials as a group 78.5%. All of the outstanding shares of E.L. Schottenstein & Sons, Inc. are owned by the Schottenstein family, including Alvin E. Schottenstein, president of Schottenstein Stores, who owns 23.33%.

REAL ESTATE INVESTMENT TRUST PROl:'OSESOFFERING. Rea 1 Estate Investment Trust of Nebraska (''REITON''),1330 North 66th St., Lincoln, Neb, 68505, filed a registration statement (File 2-33289) with the SEC onMay 29 seeking registration of 50,000 shares of beneficial interest, to be offered for public sale throughNebraska Realty Management Corporation, 1330 North 66th St., Lincoln, Neb. 68505. The offering price($17.50 per share maximum*l and underwriting terms are to be supplied by amendment.

Organized as a common law business trust under Nebraska law in November 1964, REITON's purpose is to prOVide investors with an opportunity to participate in a diversified portfolio of income-producing real estate investments, through ownership of its transferable shares of beneficial interest. It operates as a "real estate investment trust" under the Internal Revenue Code. Although the Trust may make all type s of real estate and security investments, its policy has been to invest principally in all of the fee-Simpleownership of improved income-producing real estate, consisting of small office buildings, shopping centers, commercial buildings and several single-family dwellings. To a lesser extent, it has invested in unimproved farmland and commercial lots suitable for subdiViding or development. Net proceeds of its sale of shares will be invested in income-producing real estate conSistent with the Trust's objectives and policies. In addition to indebtedness, the Trust has outstanding 102,805 shares, of which Trustees own 15.7%, Lloyd D. Hinkley is president.

INFORMATION CONTROL SYSTEMS TO SELL STOCK. Information Control Systems, Inc., 109 East Madison, Ann Arbor, Mich. 48104, filed a registration statement (File 2-33290) with the SEC on May 29 seeking ---registration of 400,000 shares of common stock, to be offered for public sale through John A, Kemper & Company, 32 North Ludlow St., Dayton, Ohio. The offering price ($9 per share maximum*) and underwritingterms are to be supplied by amendment. The company has agreed to sell 8,000 shares to the Kemper firm at 10c per share. In January, the company issued 10,000 shares each to Alan Gelband and Harold Kellman for financial services rendered to the company since April 1968, including services incident to this underwriting.

Organized under Delaware law on February 3, the company succeeded to the business and assets subject to all liabilities of a predecessor Michigan corporation, which with its predecessor partnerships commenced bUSiness in October 1962. It is primarily engaged in developing and marketing various computer related services, such as data processing, computer programming and systems analysis, and in assembling and marketing an automatic typing system developed by the company. Net proceeds of its stock sale will be used principallyin connection with its operations relating tothe automatic typing equipment; the balance will be used to finance a portion of the leases of the automatic typing systems and for general working capital purposes.The company has outstanding 569,210 common shares. (with a book deficit of 2l¢ per share), of which Charles Newman, board chairman owns 25.2%, David t--I. Carlson, president, 15.8% and management officials as a group50.7%. Purchasers of the shares being registered will acquire a 42% stock interest in the company for their investment of $3,600,000 (they will sustain an immediate dilution of $5.81 in per share book value from the offering price); the present stockholders will then own 58%, for which they will have made an effective cash contribution to the company of $847,480.

Continued

SEC NEWS DIGEST, June 6, 1969 Page 3

ZAYRE FILES FOR SECONDARY. Zayre Corp., Framingham, Mass. 01701, filed a registration statement (File 2-33291) with the SEC on May 29 seeking registration of 242,025 outstanding shares of common stock, to be offered for public sale through underwriters headed by Lehman Brothers, One William St., New York,N.Y. 10004, and two other firms. The offering price ($40.25 per share maximum*) and underwriting terms are to be supplied by amendment.

The company is primarily engaged in the operation of 138 discount department stores carrying a broad line of merchandise designed to satisfy the apparel and home needs of middle income suburban families. In addition to indebtedness and preferred stock, it has outstanding 4,569,616 common shares. Morris Feldbergis board chairman and Stanley H. Feldberg president. Kodiak, Inc. proposes to sell all of its holdingsof 194,025 shares and five others the remaining shares being registered. Kodiak acquired its shares in exchange for the business and assets of Shoppers' City, Inc.

KIN-ARK PROPOSES RIGHTS OFFER. Kin-Ark Corporation, University Club Tower, 1722 South Carson Ave., Tulsa, Okla. 74119, filed a registration statement (File 2-33293) with the SEC on Hay 29 seeking registrationof 948,333 shares of common stock, to be offered for subscription by common stockholders (as well as holders of certain stock options and debentures, to the extent presently exercisable or convertible into common shares), at the rate of one additional share for each four shares held. Stifel Nicolaus & Company,Incorporated has agreed to head a group of underwriters who will solicit subscriptions. Also included in this statement are 89,281 shares of common stock, issuable upon conversion of certain convertible debentures, to be offered for sale from time to time by the recipients thereof.

The company (formerly Kin-Ark Oil Company) is engaged in the acquisition of prospective oil and gasproperties and the exploration and development of such properties and the production of oil and gas; it is also engaged in real estate investments and (through a subsidiary) in machine parts and tooling and the engineering development and manufacturing of measurement devices and control systems for the oil, pipelineand related industries. Of the net proceeds of its stock sale, $200,000 will be used to retire obligationsincurred in connection with the purchase of 100,000 shares (controlling interest) in Signet Controls, Inc., $350,000 to retire short-term indebtedness, and $650,000 to retire a note in favor of Westinghouse Credit Co rp .; the balance will be added to the company's working capital. In addition to indebtedness, the companyhas outstanding 3,342,929 common shares, of which management officials as a group own 4.14'7.. Howard K. Edwards is president and board chairman.

GREAT AMERICAN NURSING CENTERS TO SELL STCCK. Great American NurSing Centers, Inc., 228 Weybossett St., PrOVidence, R.I., filed a registration statement (File 2-33294) with the SEC on May 29 seeking registrati~nof 450,000 shares of common stock, to be offered for public sale at $10 per share. The offering is to be made through underwriters headed by Suplee, Mosley, Close & Kerner, Incorporated, 1500 Walnut St., Philadelphia, Pa. 19102, which will receive an 85~ per share commission and $22,500 for expenses. The companyhas agreed to sell 30,000 shares to the Suplee firm at $1 per share.

The company was organized under Delaware law in March 1969 by Andrew Panteleakis and Guido R. Salvadore (treasurer and preSident, respectively) for the purpose of engaging in the development, construction, manage-ment and operation of nurSing homes and related businesses. It has contracts to acqUire 16 nurSing homes, containing an aggregate of 1457 beds, and an agreement to acquire an additional l20-bed home on which con-struction has been commenced. Of the net proceeds of its stock sale, $1,295,120 will be used to acquire 12 of the homes, $200,000 to purchase or complete the purchase of nursing home or other development sites in Connecticut, Rhode Island and Massachusetts and $900,000 to construct, equip and furnish the home in North PrOVidence, R.I.; the balance will be added to the company's general funds and used for general corporatepurposes. In addition to indebtedness, the company has outstanding 821,002 common shares (with a $3.41 pershare book value), of which Panteleakis and Salvadore own 40'7.each. Bliss B. Clark, ~1.D. is board chairman. Purchasers of the shares being registered will sustain an immeciiate dilution of $6.59 in per share book value from the offering price.

TOWN AND COUNTRY NURSING CENTERS TO SELL STOCK. Town and Country NurSing Centers, Inc., 16 Whitesville Road, Toms River, N.J. filed a registration statement (File 2-33296) with the SEC o~ May 29 seeking registra-tion of 100,000 shares of common stock, to be offered for public sale through Spingarn, Heine & Co., 37 Wall St., New York, N.Y. The offering price ($7 per share maximum*) and underwriting terms are to be supplied byamendment. The company has agreed to sell to the underwriter, for $100, Six-year warrants to purchase10,000 shares, exercisable initially (after 1 year) at the offering price.

The company (formerly Country Manor Estates, Inc.) owns and operates R 100-bed extended care and nurSingfacility. Of the net proceeds of its stock sale, $350,000 will be used toward construction of a 35-room senior citizens hotel, to be attached to the presently operating nurSing home; the balance will be added to the company's working capital and used for general corporate purposes. In addition to indebtedness, the company has outstanding 475,200 common shares (with a 40~ per share tangible consolidated book value), of which Eugene Friedman, preSident, and Equitable Small Business Investment Corporation own 42'7.each. David Goldberg, board chairman, and Seymour Goldberg, secretary·treasurer, own 97% of the outstanding stock of Equitable Small Business Investment Corp. Yurchasers of the shares being registered will acquire 100,000 shares for their investment of $700,000*. Friedman owns 42'7.,for which he paid $20,000, and is to receive $10,000 for 20,000 shares sold in March, and Equitable Small Business Investment Corp. owns 42%, for which it pa~d $60,000, and is to receive $10,000 for 20,000 shares sold in March.

CONNER HOMES TO SELL STOCK. Conner Homes Corporation, Newport, N.C., filed a registration statement (File 2-33297) with the SEC on May 29 seeking registration of 300,000 shares of common stock, to be offered for public sale through underwriters headed by Dominick & Dominick, Incorporated, 14 Wall St., New York, N.Y. 10005, and Interstate Securities Corporation, 221 South Tryon St., Charlotte, N.C. 28202. The offering price($10 per share maximum*) and underwriting terms are to be supplied by amendment.

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SEC MEWS DIGEST, J u n e 6 , 1969 Page 4

The company i s p r i n c i p a l l y engaged i n t h e m a n u f a c t u r e and w h o l e s a l e and r e t a i l s a l e o f l ower t o medium p r i c e d m o b i l e homes i n t h e s o u t h e a s t e r n U. S . Of t h e n e t p r o c e e d s o f i t s s t o c k s a l e , p a r t w i l l be used f o r

working c a p i t a l p u r p o s e s , i n c l u d i n g t h e r e t i r e m e n t o f i t s f l o o r p l a n i n d e b t e d n e s s o f $ 1 , 7 0 0 , 0 0 0 and $350 ,000 f o r deve lopmen t of m o b i l e home p a r k s o r m o b i l e home s u b d i v i s i o n i n t h e i n v e s t i g a t i o n and deve lopmen t o f a d e a l e r f r a n c h i s e sys t em f o r t h e r e t a i l s a l e o f mob i l e homes. In 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 1 , 2 0 0 , 0 0 0 common s h a r e s ( w i t h a 93C p e r s h a r e book v a l u e ) , o f whi:h W a l l a c e J . Conner , boa rd chair,man and p r e s i d e n t owns 8 2 . 2 % .

SKESliAHAN COMPUTER TO SELL STOCK. Bresnahan Computer C o r p o r a t i o n , 5615 West Cermak Road, C i c e r o , 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 2-33299) w i t h t h e SEC on May 29 s e e k i n g r e g i s t r a t i o n o f 4 0 0 , 0 0 0 s h a r e s o f common s t o c k , t o be o f f e r e d f o r p u b l i c s a l e th rough u n d e r w r i t e r s headed by Wals ton & C o . , I n c . , 74 Wal l S t . , New York , N . Y . 10005. The o f f e r i n g p r i c e ( $ 1 0 p e r s h a r e maximum*) and u n d e r w r i t i n g t e r m s a r e t o be s u p p l i e d by amendment. The u n d e r w r i t e r s w i l l pay a f i n d e r ' s f e e o f o n e - h a l f of 1% of t h e a g g r e g a t e o f f e r i n g p r i c e t o S i n c e r e & C o . , of which John R. H o s t y , a d i r e c t o r o f t h e c o m p a n y , i s a p a r t n e r .

Organ ized u n d e r De laware law i n Msrch 1969 a s a wholly-owned s u b s i d i a r y o f i t s p r e d e c e s s o r , Bresnahan Computer L e a s i n g C o r p o r a t i o n , ~ h i c h was merged i n t o t h e De laware c o r p o r a t i o n on May 1 , t h e company i s engaged p r i n c i p a l l y i n t h e b u s i n e s s o f l e a s i n g t o o t h e r s IBM System/360 compute r s and i n o f f e r i n g v a r i o u s compute r s e r v i c e s i n t h e a r e a s of " s o f t w a r e , " s e r v i c e bu reau and r e l a t e d a c t i v i t i e s . Of t h e n e t p r o c e e d s of

i t s s t o c k s a l e , a p o r t i o n w i l l b e used t o p u r c h a s e IBM System/360 compute r equ ipmen t f o r which i t h a s l e a s e commitments and $300 ,000 f o r e x ~ s n s i o n o f i t s s o f e w a r e b u s i n e s s and i t s s e r v i c e bu reau b u s i n e s s and f o r g e n e r a l o p e r a t i n g p u r p o s e s ; t h e b a l a n c e w i l l b e used f o r g e n e r a l c o r p o r a t e p u r p o s e s . I n a d d i t i o n t o indeb ted

n e s s , t h e company h a s o u t s t a n d i n g 1 , 5 3 1 , 8 0 7 common s h a r e s ( w i t h a $ 2 . 3 4 p e r s h a r e n e t t a n g i b l e book v a l u e ) , o f which management o f f i c i a l s a s a g r o u p own 16%. W i l l i a m J . Bresnatdan i s p r e s i d e n t . P u r c h a s e r s o f t h e s h a r e s b e i n g r e g i s t e r e d w i l l a c q u i r e a 21% s t o c k i n t e r e s t i n t h e company f o r t h e i r i n v e s t m e n t o f $4,000,000* and company o f f i c i a l s , p r o m o t e r s and a f f i l i a t e d p e r s o n s w i l l t h e n own 25%, f o r a c a s h c o n t r i b u t i o n o f $766 ,252 .

ROCKOWER BROTHERS FILES FOR SECOIIDHR'r, Rockower B r o t h e r s , I n c . 210 E a s t C o u r t l a n d S t . , P h i l a d e l p h i a , P a . 19120 , 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 2-33300) w i t h t h e SEC on May 2 9 s e e k i n g r e g i s t r a t i o n o f 254 ,600 o u t s t a n d i n g s h a r e s o f common s t o c k , t o be o f f e r e d f o r p u b l i c s a l e by t h e p r e s e n t h o l d e r s t h e r e o f t h r o u g h u n d e r w r i t e r s headed by D r e x e l Harr iman R i p l e y , I n c o r p o r a t e d , 1500 Walnut S t . , P h i l a d e l p h i a , Pa . 19101. The o f f e r i n g p r i c e ( $ 3 0 p e r s h a r e maximum*) and ' ~ n d e w r i t i n g t e rms a r e t o be s u p p l i e d by amendment.

The company i s engaged i n s e l l ~ n g r e t a i l men ' s and b o y s ' wea r ing a p p a r e l and m a n u f a c t u r i n g m e n ' s and b o y s ' s w e a t e r s and q u a l i t y m e n ' s c l o t h i n g . I t h a s o u t s t a n d i n g 1 , 7 3 6 , 7 8 0 common s h a r e s , of which I . Budd Rockower, p r e s i d e n t , owns 7.49,, H a r r y E . Rockower, board c h a i r m a n , 9 . 7 X a n d management o f f i c i a l s a s a g r o u p 2 3 . 8 % . I . Budd Rockower p r o p o s e s t o s e l l 8 0 , 0 0 0 s h a r e s , Har ry Rockower 6 0 , 0 0 0 and e i g h t o t h e r s t h e r ema in ing s h a r e s b e i n g r e g i s t e r e d .

PANELFAB INTERNATIONAL PFOPOSES EXCHANGE OFFER. P a n e l f a b I n t e r n a t i o n a l C o r p o r a t i o n , 1600 N . W . LeJeune Road, Mia rn i ,F la . 33126, 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 2-33301) w i t h t h e SEC on May 29 s e e k i n g r e g i s - t r a t i o n of 3 , 0 5 8 , 4 6 0 s h a r e s o f common s t o c k . I t i s proposed t o o f f e r t h e s e s h a r e s i n exchange f o r a l l o f t h e o u t s t a n d i n g s h a r e s o f common s t o c k of P s n e l f a b , I n c . ( f o r m e r l y Un i t ed S t a t e s P l a s t i c s , I n c . ) on a s h a r e - f o r - s h a r e b a s i s . E f f e c t i v e n e s s o f t h e exchange o f f e r i s c o n t i n g e n t upcn a c c e p t a n c e by h o l d e r s o f a t l e a s t 80% o f t h e o u t s t a n d i n g s h a r e s o f P a n e l f a b , I n c .

P a n e l f a b I n t e r n a t i o n a l ( f o r m e r l y B u s i n e s s Development C o r p o r a t i o n ) i s engaged i n t h e m a n u f a c t u r e and s a l e o f E a n e l f a b p a n e l s and v a r i o u s t y p e s o f p r e - e n g i n e e r e d and p r e - f a b r i c a t e d b u i l d i n g s and s t r u c t u r e s made w i t h such p a n e l s o u t s i d e t l i e c o n t i n e n t a l Un i t ed S t a t e s . I t h a s o u t s t a n d i n g 3 , 7 5 8 , 0 7 0 common s h a r e s , of which M i l t o n N . F i s h e r , p r e s i d e n t , owns 17%, J o s e R a p a p o r t , s e c r e t a r y - t r e a s u r e r , 34% and management o f f i c i a l s a s a g r o u p 68%. P a n e l f a b , I n c . i s engaged i n t h e m a n u f a c t u r e and s a l e o f l i g h t w e i g h t s t r u c t u r a l p a n e l s and p r e - e n g i n e e r e d and p r e - f a b r i c a t e d modular componen t s , and v a r i o u s t y p e s o f b u i l d i n g s and s t r u c t u r e s con- s t r u c t e d w i t h s u c h p a n e l s and components .

RUSS TOGS FILES FOR SECONDARY. Russ T o g s , I n c . 1372 Broadway, New York, N . Y . , f i l e d a r e g i s t r a t i o n s t a t e - ment ( F i l e 2-33303) w i t h t h e SEC on )lay 29 s e e k i n g r e g i s t r a t i o n o f 135 ,709 o u t s t a n d i n g s h a r e s o f common s t o c k . T h e s e s h a r e s may b e o f f e r e d f o r s a l e f rom t i m e t o t i m e by t h e p r e s e n t h o l d e r s t h e r e o f a t p r i c o s c u r r e n t a t t h e t i m e o f s a l e ( $ 2 8 p e r s h a r e maximum*).

The company i s a h i g h l y d i v e r s i f i e d m a n u f a c t u r e r of f e m i n i n e a p p a r e l . l t h a s o u t s t a n d i n g 3 , 9 5 8 , 7 5 2 common s h a r e s . S idney R i c h l i n g and Abe Aronoff p r o p o s e t o s e l l a l l o f 1 9 , 6 8 7 s h a r e s h e l d each and 19 o t h e r s t h e remaining s h a r e s b e i n g r e g i s t e r e d . Such s h a r e s were a c q u i r e d i n c o n n e c t i o n w i t h t h e s a l e t o t h e company o f c e r t a i n b u s i n e s s e s p r e v i o u s l y c o n t r o l l e d by t h e i r h o l d e r s .

CZNTURY MORTGAGE INVESTORS PKOPOSES OFFERING. C e n t u r y Nor tgage I n v e s t o r s , 1 1 E a s t F o r s y t h S t . , J a c k s o n v i l l e F l a . 32202, 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 2-33304) w i t h t h e SEC on May 29 s e e k i n g r e g i s t r a t i o n of 1 , 2 5 0 , 0 0 0 s h a r e s o f b e n e f i c i a l i n t e r e s t and $ 2 5 , 0 0 0 , 0 0 0 o f s u b o r d i n a t e d d e b e n t u r e s , due 1 9 8 9 , w i t h w a r r a n t s a t t a c h e d . These 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 th rough u n d e r w r i t e r s headed by M e r r i l l Lynch, P i e r c e , F e n n e r & S m i t h , 70 P i n e S t . , New Y o r k , N . Y . 10005 , and P i e r c e , Wulbern , Murphey, I n c . 11 Eas t F o r s y t h S t . , J a c k s o n v i l l e , 91a . 32202. 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 , o f f e r i n g p r i c e ( $ 2 0 p e r s h a r e maximum*) and u n d e r w r i t i n g t e rms a r e t o be s u p p l i e d by amendment.

O r g a n i z e d a s a b u s i n e s s t r u s t unde r M a s s a c h u s e t t s law on May 1 4 : t h e T r u s t e x p e c t s t o q u a l i f y a s a r e a l e s t a t e i n v e s t m e n t t r u s t unde r S e c t i o r ~ s 856-858 o f t h e I n t e r n a l Revenue Code. I t i n t e n d s t o i n v e s t p r i n c i p a l l y i n c o n s t r u c t i o n and deve lopmen t o f f i r s t mor tgage l o a n s a n d , t o a l e s s e r e x t e n t , i n permanent f i r s t mortgage l o a n s . Net p r o c e e d s of i t s f i n a n c i n g w i l l be used p r i n c i p a l l y t o a c q u i r e c o n s t r u c t i o n and deve lopmen t f i r s t

SEC NEWS DIGEST, June 6, 1969 Page 5

mortgage loans and, to a lesser extent, permanent first mortgage loans, and part may be used to invest in participations, from commercial banks and others, in previously made construction, development and permanentfirst mortgage loans. The Trust has outstanding 75,004 shares, of which American Heritage Life Investment Corporation and American Heritage Life Insurance Company own 50% each. J.E. Davis is chairman of the trustees and board chairman of American Heritage Life Investment and American Heritage Life Insurance Companies and W. Ashley Verlander president of the trustees and of American Heritage Life lnvestment Corporation and of American Heritage Life Insurance Company.

DORSEY CORP. FILES FOR OFFERING AND SECONDARY. The Dorsey Corporation, 400 West 45th St., Chattanooga, Tenn. 37410, filed a registration statement (File 2-33306) with the SEC on May 29 seeking registration of 466,912 shares of common stock, of which 100,000 are to be offered for sale by the company and 366,912(being outstanding shares) by the present holders thereof. The offering is to be made through underwriters headed by Hallgarten & Co., 44 Wall St., New York, N.Y. 10005; the offering price ($27.625 per share maximum*) and underwriting terms are to be supplied by amendment.

The company is engaged in the manufacture and sale of a wide variety of glass containers and in the manufacture and sale of cargo trailers. Net proceeds of its sale of additional stock, together with proceed3of $3,000,000 of 6.86% senior notes, will be used to construct a glass container plant or, if not so used,such proceeds will be used to reduce bank indebtedness and as additional working capital. In addition to indebtedness and preferred stock, the company has outstanding 2,085,972 common shares, of which J. Frank Harrison, board chairman, owns 11%, management officials as a group 17% and Louis B: Yaeger 15%. The Gardian Life Insurance Company of America proposes to sell all of 130,000 shares held, Massachusetts Mutual Life Insurance Company all of 100,000 and 13 others the remaining shares being registered.

STOCK PLANS FILED. The f o lLow i ng companies have filed Form S-8 registration statements with the SEC seeking registration of securities to be offered under and pursuant to employee stock and related plans:

Goodall Rubber Company, Trenton, N.J. (File 2-33292) - 20,000 shares Texaco Inc., New York, N.Y. (File 2-33305) - $103,972,000 of partiCipations in the Employees Savings

Plan and 1,218,720 shares Visual Electronics Corporation, New York, N.Y. (File 2-33308) - 97,100 shares

RECENT FORH 8-K FILINGS. The companies listed below have filed Form 8-K reports for the month indicated a-d

responding to the item of the Form specified in parentheses. Photocopies thereof may be purchased from the Commission's Public Reference Section (please give NewS Digest "Issue No." in ordering). Invoice will be included with the requested material when mailed. An index of the captions of the several itemS of the form was included in the June 4 News Digest.

Carter Wallace, Inc Robert Reis & Co March 1969 ( 2,13) 1-5910-2 March 1969 (6) 0-2175-2

Del Monte Corp R. J. ~eyno1ds Tobacco CoMarch 1969 ( 7,13) 1-502-2 March 1969 (13) 1-980-2

Diners Club, Inc Rogers CorpMarch 1969 ( 4,7,13) 1-3994-2 March 1969 ( 11,13) 1-4347-2

Marinduque Mining & Ind. Corp Tesoro Petroleum CorpC6K for Harch 1969(13) 1-5534-2 Harch 1969 ( 4.13) 1-3473-2

Penna. Eningeering Corp The Travelers lnsur. Co March 1969 ( 7,8,13) 0-3066-2 March 1969 (ll) 2-28982-2

Phlla. Surburban Trans. Co Whi~e Consol Ind., Inc March 1969 ( 11,13) 0-2655-2 March 1969(4,7,13) 1-826-2

Prudential Bldg. Maint. CorpFeb. 1969 ( 2,13) 1-5600-2

~ervo Corp Fl1nkote Co of Americft Feb. 1969 ( 7,8,12) 1-3925-2 March 1969 (3) 1-2560-2

Stelber Ind., Inc Food Ind., Inc March 1969 ( 7,10,11,13) 2-27500-2 March 1969 ( 2,13) 0-3372-2

Teledyne Inc ILC Ind., IncFeb. 1969 ( 7,11,13) 1-5212-2 Feb. 1969 ( 7,13) 2-31063-2

Medic Home Enterprises, Inc March 1969 ( 2,12,13) 0-3387-2

Brush Beryllium Co Mobile Gas Se~ices CorpMarch 1969 ( 4,7,13) 0-484-2 March 1969 (7) 0-234-2 First Equity Secure Invst. Corp Murphy Pacific Marine Salvage Co

March 1969 ( 12,13) 2-2333-2 March 1969 ( 1.7.13) 0-2198-2 Fitchburg Gas & E1ec. Co Narragansett Electric Co

March 1969 (11) 0-1038-2 March 1969(11) 0-898-2 W. T. Grant Co Natl.starch & Chemical Corp

March 1969 (12) 1-3000-2 March 1969 (7) 1-3582-2 Pacific Lighting Service Co New Yorker Magazine Inc Harch 1969 ( It,12,13) 2-17024-2 March 1969(11) 0-451-2 Philip Morris Inc

March 1969 ( 12.13) 1-194-2

Raymond Engineering IncMarch 1969 (11) 1-5622-2

OVER

Pas- 6 SEC MEWS DIGEST.JURE 6. 1969

Richardson Merrell Inc March 1969 (3)

Sixty Minute Systems, Inc Feb. 1969 (9) March 1969(1)

Zion Food. CorpMarch 1969 (2)

1-1029-2

1-5938-2 1-5938-2

1-4560-2

Cayman Mgt. CorpFeb. 1969 (1) 2-30705-2

MarathonMarch

M1chi~anMarch

San JoseHarch

Oi 1 Co 1969 (11) 1-451-2 Ave Financial Group

1969 ( 2.7,12) 2-30765-2 Water Works

1969 (11,13) 0-1019-2 Turbo Cast Ind.. Inc

March 1969 (13) 0-2312-2

Bethlehem Steel CorpMarch 1969 ( 7.13) 1-1941-2

Central Power & Light Co(Texas) Computer

Harch CurtUs

March GRT Corp

March

Systems Devel. Corp1969( 2.13) 2-30211-2 Wright Corp 1969 ( 7.12) 1-134-2

1969 (4.7,11.13) 2-29297-2

March 1969 (11.13) Charter New York Corp

March 1969 (11) Excel Invst. Co

Feb. 1969 (12.13) First Invstrs. Corp

March 1969 (11) Gannett Co Inc

March 1969 (13)

Greater Nebraska CorpMarch 1969(2)

J KInd., IncJan 1969 <1,13)Feb. 1969 ( 2.13)

I B. Kleinert Rubber Co March 1969 (!2)

teA. Inc March 1969 ( 7.8.13)

0-346-2

1-5717-2

0-1933-2

0-580-2

1-5857-2

0-537-2

0-1734-2 0-1734-2

1- 1003-2

1-4343-2

Gulf Life Holding Co March 1969 ( 7.8,13)

The Hartford Fire Insur. 2-29226-2

Co March 1969 (2)

Haverhill Gas Co 2-26153-2

March 1969 (11) 0-1166-2 Nationwide Auto Leasing System. Inc March 1969 (2.7.13) 0-2806-2 Republic Invltrs. Life Insur. Co

Nov. 1968(12) 0-2012-2 Oct. 1969(3) 0-2012-2

Supermrkts. General CorpMarch 1969( 11.13)

Superior Oil Co March 1969 (12)

Advanced Computer Techniques Corp Feb. 1969(2.13)Power-Mate Corp

Feb. 1969 (12.13) Central Minnesota Television Co Apr. 1968(8.11)Edgewater Corp

March 1969 (2.4.7.13) Gardner Denver Corp

March 1969( 7.8,13) Greater 0140 Corp

March 1969 ( 4,11,13)

Harrisonburg Tel CoMarch 1969 ( 12,13)

Koppers Co IncMarch 1969 ( 4,7.13)

Mayflower Life Insur. Co of Michigan Mar. 1969 (11) Pictorial Productions Inc

Apr. 1969 ( 2.7.13)Re-Con Systems,

Feb. 1969 (11)

H. C. Bohack, IncMarch 1969 ( 7.8.12)

Dorr-OUnr lneMarch 1969 (7)

1-5287-2

1-4744-2

2-28504-2

2-30278-2

-2450-2

0_890-2

1-1182-2

0-3057-2

0-724-2

1-3224-2

2-22599-2

0-2970-2

2-30410-2

1-5304-2

1-3870-2

Northern Va. Doctors HospitalCorp· March 1969 (2,7.13) 0-2927-2 Planet Corp

March 1969 (7) Planning Research Corp

March 1969 ( 2.7.13) West Texas Utilities Co

March 1969 (11)

Aileen Inc March 1969 (12)

Aaerican Bank Note Co March 1969(8}

First F~ecutive CorpMarch 1969 ( 2,7,10)

0-2762-2

1-4941-2

0-340-2

1-4734-2

1-581-2

0-3042-2 Genl. Tel Co of the Southwest

March 1969 (3.11) 0-1122-2 Mastech Computer Systems. Inc

March 1969 (7) Mississippi River Corp

March 1969 (8) Northwest Engineering Co

March 1969 (11) 08ias Organization Inc

March 1969 ( 7.13) IPS Products. Inc

Feb. 1969 (13,2) Restaurant Assoc. Ind., Inc

MArch 1969 (12,13) Standard Kollsman Ind •• Inc

March 1969 (13) Sundance Oi 1 Co

March 1969 ( 7.9.13)

Aberle Ind., Inc Feb. 1969 ( 2.7.13)

2-30869-2

1-3599-2

0-572-2

2-30509-2

2-30846-2

1-5722-2

1-3600-2

1-3524-2

2-31229-2

ESB. Inc March 1969 (12) 1-5427-2

Economy Finance CorpMarch 1969 (7) 0-2352-2

Greif Bros. Cooperage CorpFeb. 1969(2) 1-566-2

SIC lIIWSDIGEST, JUNE 6. 1969 Page 7

Berns Air King Corp Husky Oil Co of Del. March 1969 (12) 0-2772-2 March 1969 (7,13) 0-664-2

The C~o1"e Cot'P Inti. LeisureCorpMarch 1969( 7,13) 1-5892-2 Feb. 1969 ( 7.13) 2-30443-2

eu..lns Engine Co RosemountEngineering Co March &969(12,13) 1-494-2 Harch 1969 (11.13) 0-2388-2

Dereco, Inc Santa Fe Ind.. Inc March 1969(11) 1·5638-2 feb. 1969 (13) 1-5708-2

Life AssuranceCo of carolina Square D Co March 1969 (11) 2-22855-2 Harch 1969 (12) 1-2188-2

Joseph Hagnin Co Inc Summit Natl. Holding Co Mareh 1969 (11) 0-2~61-2 Harch 1969 (11) 0-582-2

Norfolk & Western Ry Co Texas Oil & Gas CorpMaTCh 1969 ( 7,13) 1-546-2 March 1969 (7) 1-4995-2

Mytronicl tnc(De1) WashingtonGas Light Co Harch 1969 ( 2.11,13) 1-5617-2 March 1969 (11,12) 1-1483-2

Reuter Inc West Chemical Products. Inc Harch 1969 (2,13) 0-1561-2 March 1969 (11,13) 1-4191-2

Shawmut Assoc., Inc Harch 1969 (11) 0-2151-2 ARlCO Ind.. Inc

~prlngfle1d Gas Light Co March lq69 (12,l3) 1.4672-2 March 1969 (II) 0-721-2 CAlif. Watpr Service Co

Teaching Technology Corp Karch 1969 (8) 0-464-2 Feb. 1969 ( 2,13) 2-29913-2 Colonial BoaTd Co

Trani-Canada Pipe Lines.Ltd March 1969 (13) 0-1137-2 March 1969 (7,8) 2-12927-2 DecoratorInd., Inc

United Artists Corp Harch 1969 (13) 2-26440-2 Amdt. #1 to 8K for Nov. 1968 EasternPropertiesImprovement(2,7) O~3009-2 Corp March 1969 (12) 2-20468-2

Wisconsin Michigan Power Co Genl. Refractories. Inc Karch 1969 (11) 0-319-2 March 1969(4,7,13) 1-931-2

Wilconsin Natural Gas Co InfotronicsCorpMarch 1969 (11) 2-2066-2 Feb. 1969(12) 0-2784-2

Joslyn Mfg. (. Supply Co March 1969(11,13) 0-1252-2

tnc Heywood \lakefield CoConchf!lll(:o March 1969(6) 0-1331-2Mareh 1969 H2)Chra.al1oy American Corp Hovie18b. Inc

March 1969 ( 4.7,9,13) 1-5792-2 Harch 1969(12) 1-4500-2

CriterionInsuranceCo Phoenix Steel CorpMarch 1969 (l U March 1969 ( 1,7,12) 1-2908-2

Dr. Pepper Co AlAbama Power CoHarch 1969 (11) 1-248-2 March 1969 (3) 1-3164-2 The Educator & Executive Co Atlanta lntl. Raceway, Inc March 1969 (13) 0-1161-2 March 1969 ( 1,2.3.4.5.7.9,Elba Systems Corp 11.13) 0-1926-2

Feb. 1969(7) 2-30147·2 BancohioCorp'an River Elec. Light Co March 1969 ( 4.11.13) 0-141]-2March 1969 (11) 2-3648-2 Denver & Rio Grande Western Ry Co

Grey Advert. Inc Feb. 1969 ( 7.8.9) 1-1129-2 Sept. 1968 (9.13) 0-2113-2 Equity Funding Corp of America

Jonea & Laughlin Ind., Inc March 1969 (8) 1-5306-2 March 1969 (13) 2-31642-2 Gulf Power Co MonongahelaPower Co March 1969 ( 7.11.13) 0-2429-2 Harch 1969 (7) 1-5164-2 ALfred Hart Co Tandy Corp(De1) March 1969 (12.13) 1-5136-2 Harch 1969(7,10) 1-5571-2 Ozark Air Lines. lne

Varadyne Ind., Inc March 1969 (7) 1-5362-2 March 1969 ( 7.0) 0-3243-2 Penn Akron CorpWoads Communications Corp March 1969 (1) 0.799-2 March 1969 (11,13) 2-29817-2 Red Rope Ind., Inc

March 1969 ( 3.7.11) 1.5547-2

Allstate Invst. Corp Valle's Steak HouseMarch 1969 (2) 0_3051-2 Karch 1969 (7) 1-5782-2Braun EngineeringCo

Harch 1969 (11.13) 1-5812-2 Texas Int1. Petrolt!U1IICorpHarni.chfger Corp Amdt. #1 to 8K for Nov.March 1969 (13) 1968( 1.7) 1-547-2

ewEll.

SEC NEWS DIGEST, JUNE 6, 1969

Texas Inti. Petroleum CorpJan. 1969(7) Feb.'69(IO,11,13)

E. L. Bruce Co IncHarch 1969 (2) Chambeelin Co of America Harch 1969 (12) Clear Creek CorpHarch 1969 (6)The Computer Exchange Inc March 19~9(1I,13)

R. R. Donnelly & Sons CoHarch 1969 (11)First Western Fin. CorpHarch 1969 (12)Glasrock Products, IncHarch 1969 ( 2.7.11.13)

Holly Resources CorpHarch 1969 (13)Southwestern Bell Tel. CoHarch 1969 (11)

American EDite CorpMarch 1969 ( 11,12,13) Anodyne IncHarch 1969 (11.13) castle & Cooke Co Inc Harch 1969 (7) Gross Telecasting Inc

Harch 1969 (11) Ideal BasiC Ind •• IncHarch 1969 ( 7,8.13) Louisville & Mashvil1e RR Co

Har~h 1969 ( 3,7) MeCormick & Co Inc March 1969 ( 3.13) Mercantile

Eastern Stainless Steel Corp March 1969 (7)

Maine Sugar Ind., IncFeb. 1969<12,13)

Mati. Video Corp-Rico Elec. Inc Harch 1969 (3)

Oneida, Ltd Harch 1969 (12,13)

Prudential Bldg. Maint. Corp Harch 1969 ( 7,13)

Arnav Industries, IncMarch 1969 ( 2,12,13)

Colonial Life & AccidentCo (Harch 1969) (11)

Hammermi11 Paper Co March 1969 (11)

Holly CorpMarch 1969 (3)

KUklok CorpMarch 1969 (3)

Hack Trucks, IncFeb. 1969 (11)

Pacific Ind., IncMarch 1969 (12)

Telautograph CorpFeb. 1969 (12

Union CorpFeb. 1969(7)March 1969 ( 7.11) w. R. Wrigley Jr. Ce Harch 1969 ( 11,13)

Atlantic Richfield Co

Insur.

Page 8

1-1329-2

0.2426.2

1-5452-2

0-3158.2

1-3100-2

1-3876-2

1-5561-2

1-5526-2

1-1360-2

1-632-2

1-5371-2 1-5371-2

1-800·2

1-1196-2

1-775-2

0-2903-2

1-5880-2

0-2681-2

0-474-2

1-5968-2

1-547-2

1-3445-2

1_4207-2

0-1739-2

2-27789-2

1-4694-2

0-2904-2

1-5413-2

1-4343-2

1-2346-2

1-3901-2

1-5680-2

1-4455-2

1-5944-2

1-4070-2

1-1116-2

0-748-2 Safe Deposit & Tr.Co

Mareh 1969 (2) 0-3R8-2 Rentex Services CorpMarcb 1969 ( 7.11,13) 0-3477-2 Wickes CorpMarch 1969 (7) 1_3447-2

All Tech Ind., IncHarch 1969 (11,13) 0-2993-2

Aaerican Business Systems, IncHarch 1969 ( 2.11.13) 1-4332-2

Chicago Helicopter Airways, IncMarch 1969 (11.13) 0-809-2

Com-~hareIncHarch 1969(12,13) 2-27913-2

SECURITIES ACT REGISTRATIONS. Effective June 4:

March 1969 ( 2,3.4,7,11,13)

Acae Hamilton Mfg. CorpFeb. 1969 ( 11,13)

K & M Electronic Co March 1969 ( 2.9,13)

Magnasync-Hovio1a CorpOct. 1968(11,13)

HontgOllleryWard" Co Harch 1969 (13)

Tresco Inc March 1969 ( 1,13)

Behlen Mfg. CoMarch 1969 ( 2.11.12,13)

Capitol Prod. CorpMarch 1969 (11)

Effective June 5. American Airlines, Inc., 2-32762; Aquitaine Company of Canada Ltd, 2-32996 (Sept. 3); The Chase Ha nbe t t an Bank, 2-32899; Chemical New York Corporation, 2-31155; Coap Systems, Inc., 2-30291 (40 days); Computer Network Sciences Corporation, 2-31992 (90 days); Daytona Beach General Hospital, Inc. 2-32259 (Sept. 3); Dictaphone Corporation, 2-33072; The Dreyfus Leverage Fund, Inc., 2-30806; EGR Communications, Inc., 2-31339 (90 days); Elizabethtown Water Company, 2-3l~97 (July 17); International Timesharing Corporation, 2-31764 (90 days); Kathol Petroleum, Inc., 2-31749 (July 15); Kentucky Fried Ch t cken Corp. 2-32718 (July 16); Pathfinder Mobilehome, Inc., 2~32l80 (90 days); Pioneer Food Industries,Inc. 2-31635 (90 days); Quantronix Corporation, 2~31845 (Sept. 3); Spo rt so t ron , Inc., 2-32441 (Sept. 3); Tech Serv, Inc., 2-31799 (Sept. 3); Texaco Inc., 2.33305.

NOTE TO DEALERS. The period of time dealers are required to use the prospectus in trading transactionS is shown above in parentheses after the name of the issuer.

*As estimated for purposes of computing the registration fee.

---0000000'--

Metra Electronics Corporation, 2-32636 (90 days).