SECURITIES AND EXCHANGE COMMISSION

a1~~~ IDll@~~~ A brief summary of financial proposals filed with and actions by the S.E.C.

I In order.ng full text of Relea.e. fr0sk~ublicatian. Unit. cite numb.r)

(Issue No. 68-240) FOR RELEASE December 10, 1968

SPORrSWORLD COMMUNICATIONS TO SELL STOCK. Sportsworld Communications Corp., 100 Park Ave., New York 10017, filed a registration statement (File 2-30936) with the SEC on December 4 seeking registration of 180,000 shares of common stock, to be offered for public sale at $5 per share. The offering is to be made on an "all or none, best efforts" basis by Shaskan £. Co., Inc., 67 Broad St., New York 10004, which will re-ceive a 50¢ per share selling commission plus $15,000 for expenses. The company has agreed, subject to completion of this offering, to sell the underwriter, for $180, five-year warrants to purchase 18,000 common shares, exercisable after one year at $5 per share. In addition, the company has agreed to pay First Consolidated Corporation, a principal stockholder of the company, $35,000 in consideration for the latter's services as a finder.

Organized under Delaware law in November 1968, the company intends to publish monthly sports magazines entitled "Sporting Eye," whose format and content will be designed to appeal to readers interested both in regional and national sports events and developments. Net proceeds of the company's stock sale will be used as initial working capital for purposes including initial advertising and promotion of the initial issues of "Sporting Eye" magazine and publication of the first two regional magazines, "New York Sporting Eye" and "California Sporting Eye." In addition to preferred stock, the company has outstanding 220,000 common shares (with a 3¢ per share book value), of which Stanford Karp, president, and Mickey L. Herskowitz, senior vice president, own 50% each. Upon completion of this offering, public investors will have paid $900,000, or $5 per share, for 180,000 common shares, representing 45% of the then outstanding common stock, and Karp and Herskowitz will have paid a total of $2,200, or l¢ per share, for 220,000 common shares, representing 55% of the then outstanding common stock. First Consolidated acquired the 50,000 outstanding preferred shares at $2 per share; it has paid $10,000 and is required to pay annual installments of $18,000 for five years. The shares are convertible into common on a share for share basis. Stanley Snyder, a director of the company, is a director and principal stock holder of First Consolidated.

PENNZOIL UNITED PROPOSES EXCHANGE OFFER. Pennzoil United, Inc., 900 Southwest Tower, Houston, Tex. 77002, filed a registration statement (File 2-30937) with the SEC on December 4 seeking registration of 14,511,197 shares of $3.30 cumulative preference stock (each preference share convertible into 1.6 common shares). It is proposed to offer these shares in exchange for common shares of American Smelting and Refining Company ("ASARCO"), on a share-for-share basis. White, Weld £. Co. and Lehman Brothers will head a group of dealers who will solicit acceptances of the exchange offer. The exchange offer is subject to approval of Pennzoil stockholders at a special meeting scheduled for January 1969.

Pennzoil was formed in April 1968 by the consolidation of Pennzoil Company and United Gas Corporation.It is a natural resource company engaged in oil and gas exploration and production, natural gas transmission, the refining and marketing of Pennzoil motor oil, lubricants and related products and the mining and process-ing of copper, molybdenum, potash and sulphur. ASARCO is a mining, smelting and refining company which conducts operations in the United States and several foreign countries. In addition to indebtedness and pre-ferred stock, Pennzoil has outstanding 15,651,447 common shares, of which management officials as a groupown 10.05%. J. Hugh Liedtke is board chairman and chief executive officer and William C. Liedtke, Jr., preSident.

METAFRAME COPR. FILES FOR SECONDARY. Metaframe Corporation, 87 Route 17, Maywood, N. J. 07607, filed a registration statement (File 2-30938) with the SEC on December 4 seeking registration of 143,000 shares of common stock, of which 75,000 shares are to be offered for public sale by the company and 68,000 (beingoutstanding shares) by the present holders thereof. The offering is to be made through underwriters headed by Ladenburg, Thalmann £. Co., 25 Broad St., New York 10004; the offering price ($22 per share maxu.um*) and underwriting terms are to be supplied by amendment. The statement also covers 15,000 outstanding shares issued pursuant to options granted in connection with financial services rendered to the company.

The company i8 an integrated manufacturer of a complete line of aquarium and aquarium appliances, in-cluding heaters, pumps and filters, and other related products intended primarily for use in the home, and pet shop display fixtures. It also distributes aquarium products, pet supplies and pet foods. Of the net proceeds of its sale of additional stock, the company will use $1,300,000 to retire bank loans, proceeds of which were used as working capital; the balance will be added to general funds for working capital, which may be used in connection with the acquisition of other businesses. In addition to indebtedness and pre-ferred stock. the company has outstanding 1,001,223 common shares, of which Harold Nestler, board chairman,Harding W. Willinger, president, and Allan H. Willinger, senior vice president, own 11.74 each and manage-ment officials as a group 48%. Nestle~and Allan and Harding Willinger propose to aell 10,000 shares each of 111,759. 117,723 and 117,723 shares held, respectively, Eugene Bleiweiss, senior vice preSident, 10,000of 41.716 and five other a the remaining shares being registered. Three persons propose to sell the shares issued upon exercise of options.

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SEC NEWS DIGEST, DECEMBER 10, 1968 Page 2

ALLEGHENY POWER TO SELL STOCK. Allegheny Power System, Inc . , 320 Park Ave., New York 10022, f i l e d a r e g i s t r a t i o n s ta tement ( F i l e 2-30939) w i t h t he SEC on December 4 seeking r e g i s t r a t i o n of 1,500,000 sha re s of common s tock , t o be o f f e r e d f o r pub l i c s a l e a t compet i t ive b idding . An e l e c t r i c u t i l i t y hold ing company, the company owns a l l of t h e couunon s tocks o f Monongahela Power Company, The Potomac Edison Company and West Penn Power Company. Net proceeds o f Allegheny Power's s t o c k s a l e w i l l be inves ted i n s u b s i d i a i r e s t o a s s i s t them i n f i nanc ing t h e i r c o n s t r u c t i o n expendi tures . Cons t ru t ion expend i tu r e s of t h e s u b s i d i a r i e s f o r t he t h r e e yea r s 1968, 1969 and 1970 a r e es t imated a t $450,000,000 ($150,000,000 f o r 1968, $170,000,000 f o r 1969 and $130,000,000 f o r 1970).

LIBBY M C ~ I & FILES OFFERING PROPOSAL. Libby, McNeill & Libby, 200 S. Michigan Ave., Chicago, Ill. 60604, f i l e d a r e g i s t r a t i o n s ta tement ( F i l e 2-30943) w i th t h e SEC on December 5 seeking r e g i s t r a t i o n of $15,000,000 of c o n v e r t i b l e subordina ted debentures due 1989, t o be o f f e r e d f o r pub l i c s a l e through under- w r i t e r s headed by Goldman, Sachs & Co., 55 Broad S t . , New York 10004. The i n t e r e s t r a t e , o f f e r i n g p r i c e and underwr i t ing terms a r e t o be suppl ied by amendment.

The company i s a l a r g e and d i v e r s i f i e d processor o f canned and f rozen food products . Net proceeds of i t s debenture s a l e w i l l be used t o reduce sho r t - t e rm borrowings incurred p r i n c i p a l l y t o f i nance increased inven- t o r i e s and c a p i t a l improvements and t o make a d e p o s i t o f $6 m i l l i o n f o r t he purpose o f making subsequent repay. ments of p a r t of 6% term loan no t e s due 1972. I n a d d i t i o n t o indebtedness and p re f e r r ed s tock , t h e company has ou t s t and ing 5,980,897 comnon s h a r e s , of which Nes t l e Alimentana S.A. o f Cham and Vevey, Swi tzer land , owned b e n e f i c i a l l y 1,031,899 s h a r e s , and Unilac, Inc . o f Panama, Republic of Panama, an a f f i l i a t e of Nes t l e Alimentana S.A. 978,555 s h a r e s , such hold ings i n t he aggregate r e p r e s e n t i n g approximately 34% of t h e outstand- ing common s tock of t h e company. Lyndle W. Hees is board chairman and c h i e f execu t ive o f f i c e r and David E. Guerrant p r e s iden t .

UNITED BANCSHARES OF FLA. FILES FOR OFFERING AND SECONDARY. United Bancshare of F l o r i d a , I nc . , 120 Andalusia Ave., Cora l Gables, F la . 33134, f i l e d a r e g i s t r a t i o n s ta tement ( F i l e 2-30944) with t h e SEC on December 5 seeking r e g i s t r a t i o n of 200,000 sha re s o f common s t o c k , of which 150,000 a r e t o be o f f e r ed for publ ic s a l e by t h e company and 50,000 (being ou t s t and ing sha re s ) by t h s p r e sen t ho lde r s t h e r e o f . The o f f e r - ing i s t o be made through unde rwr i t e r s headed by M e r r i l l Lynch, P i e r ce , Fenner & Smith, I n c . , 70 Pine S t . , New York 10005; t h e o f f e r i n g p r i c e ($30 pe r sha re maximum*) and underwr i t ing terms a r e t o be suppl ied by amendment.

The company is engaged i n bus iness a s a bank ho ld ing company; it owns a 94.1% s t o c k i n t e r e s t i n The Miami Beach F i r s t Nat iona l Bank, 98.3% i n United Nat iona l Bank, Miami, and 95.6% i n Cora l Gables F i r s t Nat iona l Bank; and it i s now engaged i n now engaged i n o rgan i z ing United Nat iona l Bank o f Dadeland. Of the ne t proceeds of t h e company's s a l e o f a d d i t i o n a l s t o c k , $300,000 w i l l be used t o repay a po r t i on o f t he debt incur red t o purchase t h e Coral Gables bank, $2,000,000 w i l l be added t o t he c a p i t a l funds of t h a t bank, and $250,000 w i l l be added t o t h e c a p i t a l funds of United Dadeland, i nc r ea s ing t h e company's i n i t i a l investment t h e r e i n from $500,000 t o $750,000; t he ba lance w i l l be added t o t h e company's gene ra l funds and w i l l be a v a i l a b l e f o r gene ra l co rpo ra t e purposes. The company now has ou t s t and ing , i n a d d i t i o n t o indebtedness , 758,901 common s h a r e s , of which Frank Smathers, Jr . , p re s iden t and board chairman owns 14.74% and o t h e r o f f i c i a l s and a d d i t i o n a l 10.5%; members of t he Smathers family own a t o t a l of 56.4%. Frank Smathers proposes t o s e l l 45,000 of 112,051 sha re s owned, and George Smathers 5,000 of 18,000.

BELDEN & BLACK FILES OFFERING PROPOSAL. Belden & Blake and Company Limited Pa r tne r sh ip No. 29, Canton, Ohio 44702, f i l e d a r e g i s t r a t i o n s ta tement ( F i l e 2-30945) w i th t h e SEC on December 5 seeking r e g i s t r a t i o n of - $280,000 of l im i t ed p a r t n e r s h i p i n t e r e s t s (100 u n i t s , t o be o f f e r e d a t $2,800 pe r u n i t ) . The pa r tne r sh ip was formed t o acqu i r e o i l and gas w e l l l o c a t i o n s t o g e t h e r w i th t he suppor t i ng l e a s e s and t o d r i l l o i l and gas w e l l s . Henry S. Belden 111, and Glenn A. Blake a r e gene ra l p a r t n e r s .

CENTEX TO SELL STOCK. Centex Corpora t ion , 4600 Republic Na t iona l Bank Tower, Da l l a s , Tex. 75201, f i l e d a r e g i s t r a t i o n s ta tement ( F i l e 2-30946) w i t h t he SEC on December 5 seeking r e g i s t r a t i o n of 500,000 sha re s of c m o n s t o c k , t o be o f f e r ed f o r pub l i c s a l e by Dominick & Dominick, I nc . , 14 Wall S t . , New York 10005, and Eppler , Guerin & Turner , I nc . , 3900 1 s t Nat iona l Bank Bldg. , Da l l a s , Texas. The o f f e r i n g p r i c e ($19 per sha re maximum*) and underwr i t ing terms a r e t o be suppl ied by amendment.

The company i s engaged i n t h e purchase and development o f land f o r r e s i d e n t i a l , c o m e r c i a l and i ndus t r i a l use , t h e c o n s t r u c t i o n o f r e s i d e n t i a l housing, gene ra l bu i l d ing c o n s t r u c t i o n and t h e manufacture and s a l e of cement and r e l a t e d products . The n e t proceeds of i t s s t o c k s a l e w i l l be used i n p a r t t o d i s cha rge a $6,500,000 bank no t e maturing i n January 1970; some $1,600,000 w i l l be used t o repay long term unsecured i n - debtedness and $400,000 f o r advancement t o a j o i n t ven tu re owning land i n Merced, C a l i f . ; and t he balance w i l l be used f o r gene ra l co rpo ra t e purposes, i nc lud ing working c a p i t a l requirements i n connection w i th t he company's r e s i d e n t i a l development and c o n s t r u c t i o n a c t i v i t i e s and gene ra l c o n s t r u c t i o n a c t i v i t i e s . I n add i t i on t o indebtedness , t h e canpany now has ou t s t and ing 2,000,000 conrmon s h a r e s , a l l owned by CHS corpora- t i o n , of Dal las . Some 19.6% o f t h e l a t t e r ' s s t o c k i s owned by Centex management o f f i c i a l s . Frank M. Crossen i s p r e s i d e n t .

OHIO ART FILES FOR OFFERING AND SECONDARY. The Ohio A r t Company, Bryan, Ohio 43506, f i l e d a r e g i s t r a t i o n s ta tement ( F i l e 2-30947) w i th t h e SEC on December 5 seeking r e g i s t r a t i o n o f 600,000 comnon s h a r e s , of which, 200,000 a r e t o be o f f e r ed f o r pub l i c s a l e by t he company and 400,000 (being ou t s t and ing sha re s ) by t h e present ho lde r s t h e r e o f . The o f f e r i n g is t o be made through unde rwr i t e r s headed by Shie lds & CO.,, Inc . , 44 Wall S t . , New York 10005; t h e o f f e r i n g p r i c e ($21 pe r sha re maximum*) and underwr i t ing terms a r e t o be suppl ied by amendment.

~C NEWS DIGEST, DECEMBER 10, 1968 Page 3

Ii h The ~~any is engaged in the development, manufacture and distribution of a broad line of plastic and i~lo::ap ed ~taldchi~ren's toy. and g..... Of the net proceeds of its .ale of additional stock $1 000 000

w use a re uce ong term bank debt; the balance will be added to general funds and will as;ist, ,~nit~a;~~ ~;omeeting s:asonal working capital needs. In addition to indebtednes., the company has outstand-ng, , common s ares, of which management officials own 77.09%. Howard W Winzeler board chairman

proposes to sell 280,700 of 672,000 shares (not including 70,325 shares owned by' other fam!l members and' W. C. Kil1ga110n, president 113,300 of 243,300 (not including 62,250 owned by other family ~bers). )Theremaining 6,000 shares are to be sold by the trustee for Mrs. Marguerite Goodall.

wurn SHIELD OIL FILES FOR OFFERING. White Shield OU and Gas Corporation, 1601 South Main Street,Tulsa, Oklahoma 74101, filed a registration statement (File 2-30948) with the SEC on December 5 seeking registration of 2,000 Units of participation in its oil and gas development fund, 100 Series; the units are to be offered for public sale at $50,000 per unit (plus a possible $2,500 per unit over-call).Participating NASD dealers will receive a 5% selling commission, and may be issued warrants to acquire stock of White Shield Corporation, parent of White Shield Oil and Gas Corp. The Fund is a limited partnership to be formed between White Shield Oil as general partner of the Fund and the purchasers of Fund units, to permitparticipants to subscribe on a continuing basis over a 5-year period in the drilling of development oil and gas wells. The Fund's sole purpose will be to invest the moneys subscribed by the participants in twenty limited partnerships (the "Quarterly Drilling Partnerships") to be entered into between the Fund as limited partner and White Shield Operating Corp., a wholly owned subSidiary of White Shield, as general partner; these Quarterly Drilling Partnerships will be responsible for the conduct of the actual oil and gas opera-tions undertaken on behalf of the Fund. J. w. w. Whitney, Jr., is president.

PROSHER INVESTMENT FILES FOR OFFERING. Prosher Investment Corporation, 7914 West Third St., Los Angeles, Calif. 90048, filed a registration statement (File 2-30949) with the SEC on December 6 seeking registration ~O,OOO shares of common stock and warrants to purchase a like number of shares, to be offered in units each consisting of 1 share and one warrant, and at $10 per unit. The offering is to be made by Charles Plohn & Co., 200 Park Ave., New York 10017, which will receive a $1 per share commission plus $12,500 for expenses. The company will sell the underwriter 24,000 shares at $2.50 per share, which may not be resold for two years.

The company was recently formed as successor to Prosher Investments, a partnership organized in February 1965 to own and develop real estate in Southern ealifornia. Of the net proceeds of its stock sale,$350,000 will be applied toward the construction of an apartment building and not more than $100,000 toward the improvement of certain real estate properties owned by the company and the purchase of additional land contiguous to real estate presently owned; the balance will be used to acquire and develop other properties.In addition to indebtedness, the company has outstanding 100,000 common shares (with a $3.54 per share book value), of which Martin Landis, president, owns 16.58%, and two other officers a total of 32.69%; the balance is owned by seven other stockholders.

GENERAL TELEPHONE (WISC.) PROPOSES OFFERING. General Telephone Company of Wisconsin, 18 S. Thornton Ave.,Madison, Wisc. 53701, filed a registration statement (File 2-30952) with the SEC on December 6 seeking reg-istration of $13,000,000 of First Mortgage Bonds, due 1999, to be offered for public sale at competitivebidding. The company is a telephone subSidiary of General Telephone & Electronics Corporation. The net pro-ceeds of its bond sale and the anticipated sale in February to the parent of not exceeding 80,000 additional shares of common stock to the parent at $100 per share, will be applied to the payment of short term loans owing to banks and the parent (expected to approximate $20,600,000), obtained for the purpose of financingthe company's construction program; the balance, if any, will become a part of the company's treasury funds to be used for property additions and improvements in 1969.

BACHE-GOODBODY-WALSTON FUND FILES. Municipal Investment Trust Fund, Sponsored by Bache & Co., Inc., 36 Wall St., Goodbody & Co., 55 Broad St., and Walston & Co., Inc., 74 Wall St., all of New York, filed a registration statement (File 2-30953) with the SEC on December 6 seeking registration of 5,000 units of participation in the Fund, Series N. Each unit will represent a l/SOOOth fractional undivided interest in $5,000,000 of tax-exempt bonds issued by or on behalf of states, counties, territories or municipalities of the United States and authorities and political subdivisions thereof, to be deposited with the Fund trustee by the Sponsors. The offering price of the units is to be supplied by amendment.

YUH-YUH RESTAURANTS PROPOSES OFFERING. Yum-Yum International Restaurants, Inc., Vester Voldgade 12,Copenhagen V., Den.ark, filed a registration statement (File 2-30951) with the SEC on December 6 seekingregistration of 200,000 shares of common stock, to be offered for public sale at $S per share. The offeringis to be made through Charles Plohn & Co., 200 Park Ave., New York 10017. which will receive a SO~ per share commission plus $7.500 for expenses. The company recently sold the underwriter 40,000 common shares for 10~ per share.

The company was organized in October 1968 under Delaware law to establish and operate a system of restaurants in Europe to sell a variety of food products, including hamburgers and frankfurters, steak, roast beef and ham sandwiches, fried chicken and other beverage and food items, with a quick service mode of opera-tion. Of the net proceeds of its stock sale, $750,000 will be used for opening restaurants during a three-year period, and the remainder will be added to working capital and used for general corporate purposes. The company has outstanding 200,000 common shares (with a 10~ per share book value), of which James Weschler,preSident, owns 63.5%, Charles Plohn & Co. 20% and management officials as a group 79%. Upon completion of this offering, the promoters will own 5~~ of the then outstanding common stock, for which they will have paid $20.000. and the public investors will own 50%, for which they will have paid $1,000,000.

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SEC NEWS DIGEST, DECEMBER 10 , 1968 page 4 I SE

KING'S DEPT. SORES FILES FOR SECONDARY. King ' s Department S t o r e s , I n c . , 150 C a l i f o r n i a S t . , Newton, M a s s . , 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 2-30954) w i t h t h e SEC on December 6 s e e k i n g r e g i s t r a t i o n o f 300,000 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 through u n d e r w r i t e r s headed by Shearson , Hammill & Co. I n c . , 14 Wall S t . , New York 10005. The o f f e r i n g p r i c e ($28 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.

The company o p e r a t e s 78 s e l f - s e r v i c e d i s c o u n t depar tment s t o r e s i n 17 s t a t e s i n t h e E a s t , S o u t h e a s t and Midwest, a l l of which o f f e r a b r o a d l i n e o f depar tment s t o r e merchandise . 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 4,275,287 common s h a r e s , o f which Aaron 0. Cohen, board cha i rman , owns 409,628 s h a r e s and h r f a y ,A. Candib, p r e s i d e n t , 445,789. Each proposes t o s e l l 150,000 s h a r e s .

6 & DIMENSION INTERNATIONAL TO SELL STOCK. Dimension I n t e r n a t i o n a l , I n c . , 650 West 92nd S t . , Bloomington,

M a . 55420, 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 2-30955) w i t h t h e SEC on December 5 s e e k i n g r e g i s t r a t i o n o f 200,000 s h a r e s o f c m o n 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 a t $2.25 p e r s h a r e maximum*. No under - w r i t i n g is invo lved .

The company was o r g a n i z e d under Minnesota law i n J u l y 1968 t o engage i n t h e b u s i n e s s o f manufac tu r ing a vacuum forming p r e s s and f r a n c h i s e s e l l i n g o f a p l a s t i c b u s i n e s s o p p o r t u n i t y program; t h e vacuum forming y c h i n e is used p r i n c i p a l l y i n t h e p r o d u c t i o n of t h r e e - d i m e n s i o n a l s i g n s , d i s p l a y s , and p l a s t i c p r o d u c t s f o r i n d u s t r y , f o r b u s i n e s s and f o r t h e home. Of t h e n e t p roceeds o f i t s s t o c k s a l e , $70.000 w i l l be used t o pay f i x e d s a l a r i e s f o r one y e a r , $125,000 f o r i n v e n t o r y bu i ld -up of 25 machines , and t h e b a l a n c e a s working c a p i t a l t o p rov ide f i n a n c i n g o f i n i t i a l f r a n c h i s e h o l d e r s and f o r o t h e r c o r p o r a t e purposes . The company has o u t s t a n d i n g 144,000 common s h a r e s (with a $1.15 p e r s h a r e book v a l u e ) , o f which Thomas M. L imber i s , p r e s i - d e n t , ciwns 24.3% and management o f f i c i a l s a s a group 49%. Upon comple t ion o f t h i s o f f e r i n g , p u r c h a s e r s o f t h e s h a r e s be ing r e g i s t e r e d w i l l s u f f e r a n i m e d i a t e d i l u t i o n of 5 0 ~ i n t h e book v a l u e o f e a c h s h a r e purchased,

TySONIS FOODS FILES FOR OFFERING AND SECONDARY. T y s o n l s Foods, I n c . , 319 Eas t Emma Ave. , S p r i n g d a l e , Ark. 72764. 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 2-30958) w i t h t h e SEC on December 6 s e e k i n g r e n i s t r a t i o n o f - - 229,256 s h a r e s o f - c o m o n s t o c k , o f which 200,000 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 by t h e company and 29,256 (being o u t s t a n d i n g s h a r e s ) 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 . 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 Kidder , Peabody & Co. I n c . , 20 Exchange P I . , New York 10005, and Rauscher P i e r c e 6 Co., I n c , , M e r c a n t i l e D a l l a s Bldg . , D a l l a s , Tex. 75201; t h e o f f e r i n g p r i c e ($30 per s h a r e 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 is p r i m a r i l y engaged i n t h e h a t c h i n g , growing, f e e d i n g , p r o c e s s i n g and s e l l i n g o f p o u l t r y meat , Of t h e n e t p roceeds o f i t s s a l e of a d d i t i o n a l s t o c k , t h e company w i l l use $750,000 t o c o n s t r u c t by- p r o d u c t s p l a n t s , $550,000 (upon comple t ion o f t h e a c q u i s i t i o n o f P r o s p e c t Farms, I n c . ) t o expand t h e b u i l d i n g and p r o d u c t i o n f a c i l i t i e s a t P r o s p e c t ' s North L i t t l e Rock p l a n t , $225,000 f o r m o d e r n i z a t i o n o f Tyson 's feed m i l l s and p r o c e s s i n g p l a n t s , $200,000 t o purchase s p e c i a l equipment des igned t o improve t h e l o a d i n g o f l i v e b r o i l e r s f o r shipment t o p r o c e s s i n g p l a n t s , $240,000 t o r e t i r e s h o r t - t e r m i n d e b t e d n e s s i n c u r r e d t o a c q u i r e a p o u l t r y p r o c e s s i n g p l a n t and r e l a t e d f a c i l i t i e s i n Monet t , Mo., and $180,000 f o r expanding and modernizing the a c q u i r e d f a c i l i t y and $1,000,000 t o r e t i r e s h o r t - t e r m bank i n d e b t e d n e s s i n c u r r e d t o p u r c h a s e 333,333 c a p i t a l s h a r e s of Chicken Hut Systems, I n c . ; t h e b a l a n c e w i l l b e added t o working c a p i t a l and t o t h e e x t e n t no t immediately r e q u i r e d i n t h e o p e r a t i o n s o f t h e b u s i n e s s may be used t o t e m p o r a r i l y r e t i r e o t h e r e x i s t i n g s h o r t - term bank d e b t . 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 308,870 common and 627,256 Class B c m o n s h a r e s . Of t h e common s h a r e s , t h e John and Helen Tyson E s t a t e s (o f which Don Tyson, p r e s i d e n t , and h i s minor b r o t h e r , R a n d a l l Tyson, a r e e q u a l b e n e f i c i a r i e s ) own 4.03% each , Franz Foods P r o d u c t s , I n c . , 4.27% and management o f f i c i a l s a s a group 28.50%; o f t h e Class B s h a r e s , Don Tyson owns 35.72%. t h e John Tyson E s t a t e 28.35%, t h e Helen Tyson E s t a t e 13.06% and R a n d a l l Tyson 22.87%. The John and Helen Tyson E s t a t e s propose t o s e l l a l l o f 13,628 common s h a r e s h e l d each and Franz Foods 2,000 o f 14,420 common s h a r e s h e l d .

BREHM MANAGEMENT PROPOSES-'OFFERING. C. E. Brehm Management Company ("Management Company"), S e c u r i t y L i f e Bldg. , S u i t e 2814, 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 2-30962) w i t h t h e SEC on December 5 s e e k i n g r e g i s t r a t i o n o f $2,000,000 o f p r e f o r m a t i o n l i m i t e d p a r t n e r s h i p i n t e r e s t s i n Brehm O i l Program ' 6 9 , 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 $5,000 p e r u n i t . The o f f e r i n g is t o b e made by t h e management company a t no c o m i s s i o n o r th rough s e l e c t e d NASD members a t a commission r a n g i n g from 3% - 72%. The p a r t n e r - s h i p w i l l be formed t o engage i n e x p l o r a t i o n f o r o i l and g a s , p r i m a r i l y i n t h e Rocky Mountain a r e a and i n t h e I l l i n o i s Bas in . C. E. Brehm, James W. Thompson, D e r b e r t L. S c o t t and David C. Underwood a r e g e n e r a l p a r t n e r s and Wil ton H. Webb a l i m i t e d p a r t n e r o f t h e management company.

ENNIS BRANDON COMPmER SERVICES PROPOSES RIGHTS OFFERING. Ennis Brandon Computer S e r v i c e s , I n c . , 214 West Knox S t . , Ennis , Tex. 75119, 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 2-30961) w i t h t h e SEC on December 6 s e e k i n g r e g i s t r a t i o n o f 150,000 s h a r e s of common s t o c k , t o be o f f e r e d f o r s u b s c r i p t i o n a t $ 5 p e r s h a r e by h o l d e r s of Ennis Bus iness Forms, I n c . , c o m o n s t o c k and Brandon Applied Systems, Inc . common s t o c k and c o n v e r t i b l e d e b e n t u r e s , and t o c e r t a i n employees o f Ennis and Brandon and c e r t a i n Ennis d e a l e r s . The s h a r e s a r e t o be o f f e r e d t o h o l d e r s o f Ennis and Brandon s e c u r i t i e s a t t h e r a t e o f one new s h a r e f o r each 20 s h a r e s o f Ennis o r Brandon c o m o n h e l d , o r i n t o which Brandon d e b e n t u r e s a r e c o n v e r t i b l e . The o f f e r i n g is to be made th rough E p p l e r , Guerin 61 T u r n e r , I n c . , 3900 1 s t N a t i o n a l Bank Bldg. , D a l l a s , T e x . , which w i l l r e c e i v e a s t andby f e e o f 4% on a l l s h a r e s o f f e r e d and an a d d i t i o n a l 4% on a l l s h a r e s u l t i m a t e l y purchased by t h e u n d e r w r i t e r .

The company was o rgan ized under Nevada law i n November 1968 by Ennis and Brandon t o engage i n t h e business o f p r o v i d i n g e l e c t r o n i c d a t a p r o c e s s i n g s e r v i c e s t o s m a l l b u s i n e s s e s . Of t h e n e t p roceeds o f i t s s t o c k s a l e , t h e company w i l l use $250,000 f o r t h e development and purchase o f " sof tware" packages and t h e ba lance f o r g e n e r a l working c a p i t a l , i n c l u d i n g t h e p o s s i b l e a c q u i s i t i o n o f one o r more d a t a p r o c e s s i n g c e n t e r s a l r e a d y i n e x i s t e n c e i f a v a i l a b l e on terms a t t r a c t i v e t o t h e company. The company h a s o u t s t a n d i n g 71,500 c o m o n s h a r e s , o f which Ennis owns 52.4% and Brandon 47.6%. Arnold D. P a l l e y i s p r e s i d e n t .

rnwr ThlrlFn

SEC IIIWS DIGUr, DECEMBER 10, 1968 Page 5

OLLA INDUSTRIES FILES FOR SECONDARY. Olla Industries, Inc., 4810 Broadway, Union City, N. J. 07087, filed a registration statement (File 2-30959) with the SIC on December 6 seeking registration of 120,000 outstanding shares of com.on stock, to be offered for public sale by the present holders thereof. The offering is to be made through underwriters headed by Sche inman , Hochstin & Trotta, Inc., 111 Broadway, New York 10006; the offering price ($40 per share maximum*) and underwriting terms are to be supplied by amendment.

The coapany manufactures, imports and distributes popular-priced ladies' handbags for casual, sport and dress wear. In addition to indebtedness, it has outstanding 855,000 common shares, of which Carl Olla,president, owns 144, Michael Olla, secretary-treasurer, 14.64 and Liborio Olla, vice preSident, 13.67.. Carl,Michael and Liborio Olla propose to sell 26,500 shares each of 120,000, 125,000 and 116,000 shares held,respectively, and thirteen others the remaining shares being registered.

BANGOR PUNTA SHARES IN REGISTRATION. Bangor Punta Corporation, 405 Park Ave., New York 10022, filed a registration statement (File 2-30965) with the SEC on December 9 seeking registration of 272,727 shares of common stock. Such shares are deliverable upon conversion on or after January 15, 1969 of $15,000,000 prin-cipal amount of 5tt guaranteed convertible debenturea, due 1988, of Bangor Punta International Capital Company, a wholly-owned subsidiary of Bangor Punta Operations,Inc., the wholly-owned principal operating subsidiary of Bangor Punta. The debentures are convertible at principal amount into common stock at $55 per share.

STOCK PLANS FILED. The follOWing have filed Form S-8 registration statements with the SEC seeking reg-istration of securities to be offered under and pursuant to employee stock option and related plans:

Computer Industries, Inc., Dallas, Tex. 75235 (File 2-30940) - 350,000 shares (this statement filed on Form S-l).

Federal Pacific Electric Company, Newark, N. J. 07101 (File 2-30941) - 100,000 shares Epsco, Incorporated, Westwood, Mass. 02090 (File 2-30942) - 48,366 shares Western Publishing Company, Racine, Wisc. 53404 (File 2-30950) - 30,000 shares the Bendix Corporation, Detroit, Mich. 48202 (File 2-30960) - 932,039 shares Uks Systems Corporation, San Mateo, Calif. 94402 (File 2-30963) - 92,800 shares

REGISTRATION GUIDELINES ANNOUNCED. The SEC today announced the issuance of new "Guides" for the preparation and filing of registration statements under the Securities Act of 1933 (Release 33-4936). Theyrepresent a revision and expansion of guides previously published in February 1964 (Release 34-4666). Theyrepresent policies and practices followed by the SEC Division of Corporation Finance in the administration of the Securities Act registration requirements. The Division of Corporate Regulation is in the process of preparing guides as to the preparation of registration statements by registered investment companies.

TWO TRADING BANS CONTINUED. The SEC has ordered the suspension of over-the-counter trading in the common stocks of Dumont Corporation and Majestic Capital Corporation for the further ten-day period December 11-20, 1968 inclusive.

UNLISTED TRADING REPORTED. The SEC has issued an order under the Securities Exchange Act givinginterested persons until December 20 to request a hearing upon an application of the Boston Stock Exchangefor unlisted trading privileges in the common stock of Control Data Corporation.

Orders have also been issued granting applications of the Pacific Coast Stock Exchange for such privileges in common stock purchase warrants (expiring January 31, 1978) of Gulf & Western Industries, Inc.,and of the Philadelphia-Baltimore-Washington Stock Exchange for such privileges in the common stocks of California Computer Products, Inc., Diners Club, Inc., Mallory Randall Corporation and Rockwell ManufacturingCompany. (Release 34-8466)

INDICTMENT NAMES SHEETS AND OSTERLOH. The SEC Denver Regional Office announced December 6 (LR-4177)that on July 24 a Federal grand jury in Omaha returned an indictment charging Harry Duane Sheets of Omaha and Donald L. Osterloh of Mead, Nebr., with violations of the Securities Act registration and anti-fraud provisions in the offer and sale of undivided interests in oil wells and leases of Mid-Continent Oil Corporation. Publication of the indictment had been delayed pending apprehension of the defendants; Sheets has not been apprehended to date.

AMK FILES EXCHANGE OFFER. AMK Corporation, 245 Park Ave., New York 10017, filed a registration statement (File 2-30972) with the SEC on December 9 seeking registration of $240,995,970 of 6-3/4% subordinated deben-tures, due 1988, 5,020,750 shares of common stock, and 12,049,799 warrants to purchase a like number of common shares. It is proposed to offer $30 principal amount of debentures, 5/8 shares of common stock, and warrants for the purchase of li common shares, in exchange for each share of common stock of United Fruit Company. Also included in the registration statement are an additional $9,786,000 of the debentures, 203,875 common shares, and 489,300 warrants; and it is further proposed to offer $42 principal amount of the debentures, 7/8 share of common stock, and warrants for the purchase of 2.1 common shares, in exchange for each share of United's Series A preferred stock.

AMK is engaged in the meat packing business through its subSidiary, John Morrell & Co.; in the business of manufacturing machinery for the building and curing of pneumatic tires and the manufacture of screw typeextruders for the plastic industry through its subsidiary, NRM Corporation (formerly National Rubber Machinery Company); and in the manufacture of cast iron products. On September 24, AHK purchased at $56 per share plus commissions from certain funds and others, an aggregate of 733,200 shares of United common (7,914,062 were outstanding December 31, 1967), and in addition it has purchased in the open market an aggregate of 7.100 shares of United common. AHK's aggregate cost for the 740,300 shares is about $41,788,000.Under the terms of the purchase of the 733,200 shares, each of the sellers has the right, in the event that AMK acquires any United common stock or United preferred stock pursuant to this exchange offer, to rescind

OVER

SEC NEWS DIGEST, DECEMBER 10 , 1968 page 6 I t h e s a l e o f t h e s h a r e s s o l d by i t , p r o v i d e d t h a t it t h e n resells such s h a r e s t o AUK f o r AMK d e b e n t u r e s , c m o a s t o c k , and w a r r a n t s i n t h e same r a t i o p e r s h a r e o f Uni ted conrmon s t o c k a s p r o v i d e d by t h i s exchange o f f e r . I n a d d i t i o n t o i n d e b t e d n e s s , AMK now h a s o u t s t a n d i n g 4 ,458 ,896 common s h a r e s . E. M. B lack is p r e s i d e n t and board cha i rman .

RECEW FORM 8-K FILINGS. The companies l i s t e d belaw have f i l e d Form 8-K r e p o r t s f o r t h e month i n d i - c a t e d and r e s p o n d i n g t o t h e i t e m o f t h e Form s p e c i f i e d i n p a r e n t h e s e s . P h o t o c o p i e s t h e r e o f may be purchased from t h e Comniss ion 's P u b l i c R e f e r e n c e S e c t i o n ( p l e a s e g i v e News D i g e s t " I s s u e No." i n o r d e r i n g ) . I n v o i c e w i l l b e i n c l u 4 e d v i t h t h e r e q u e s t e d m a t e r i a l when m a i l e d . An index o f t h e c a p t i o n s o f t h e s e v e r a l i t e m s o f t h e form was i n c l u d e d i n t h e December 3 News D i g e s t .

P r u d e n t Resources T r u s t Oct 6 8 ( 1 2 )

FA 1 , i q u i d a t i n g Corp Oct 6 8 ( 2 ) { N y t r o n i c s I n c Oct 68(2 ,7 ,13)

C i t y News P r i n t i n g Corp Oct 6 8 ( 2 , 1 3 )

Acoustics A s s o c i a t e s I n c J a n & May 6 8 ( 1 )

Keystone C u s t o d i a n Fds I n c S e p t 6 8 ( 7 )

pic Corp Oct 68(11 ,12 ,13) Swedlow I n c Oct 6 8 ( 1 2 )

Save-Mor s u p e r m a r k e t s I n c Amd # I t o 8 K f o r S e p t 68(12) 0- 2345- 2

P i o n e e r A s t r o I n d s I n c Amd H1 t o 8 K f o r J u l 6 8 ( 1 )

Vance Satbders & Co I n c Apr 68 ( 7 ) kug 68 ( 8 )

Computer Leas ing Company Oct 68 ( 2 , 4 , 7 , 1 3 ) 1-5809-2

N a t i o n a l Inves tment Corp I n c .Tun 68 ( 2 , 1 1 , 1 3 ) 2-25923-2 Sep 68 ( 2 ) 2-25913-2

Urdeni: i t e r s Natl Assurarlce Co Oct 68 ( 1 3 ) 2-21929-2

U n i v e r s i t g Computing Company J u n 6 8 ( 7 , 8 ) 0-2170-3

E l e c t r o l -o~~rerpncs Gorp Oct 65 ( 1 1 ) 2-28573-2 Susquehnnna Corp Oc t 68 (; ,12) 1-5515-7

!?S L i q u i d a t i n g Corp Nov 68 ( 2 , 1 1 , 1 3 )

Udico C o r p o r a t i o n Oct 68 ( 2 , 1 2 , 1 3 ) 0-2695-2

Damon E n g i n e e r i n g I n c t l e c t r o - n i t e Co Kov 6 8 ( 1 2 ) 0-7729-2 Amd R1 t o 8 K f o r Apr 6 8 ( 1 3 ) 1-5814-2

l i e s t e r n Land Corp Oct 6 (3,12) 0-7979-2

Penn-Akron Corp Sep 6 3 ( 1 2 , 1 3 )

A n a d i t e I n c Amd #1 t r , 8K f o r F a r 6 8 ( 7 ) 0-181-2

Nid-Cont inen t Corp Amd # 1 t o 8R f o r J u l y ( 1 1 ) 0-2790-2

Rese rve O i l & Gas Co Xod 9 1 t o 8 K f o r J u l y 68 ( 2 ) 1-3473-2

G a r f i n c k e l d r o o k i Bros NOV 68 (11 ,13) 0-20&2-2

Hya t t C o r p o r a t i o n Oct 68 ( 2 , 1 3 ) 0-3149-2

P . i c h i ~ c r x . i s c o n s i n i i p e L i n e Co Clct 68 ( 7 , 1 1 , 1 3 ) 2- l i 3 4 5 - 2

Roc dclraf t E;f g 6 Leas in i , Ccrp Oct 68 (6 ,101 0-2204-2

Gzc Cclrpornt ion Oct 6.1 ( 2 , 7 , % ' , 1 3 ) 1-3A53-2 G I te i leaar l Brewing Co I n c

NOV 6 , ) ( 7 ) 1-4738-2

I l o t e l Corp of I s r a e l NOV 6 8 (4 ,11 ,13) 0-1670-2 Filrrrways I n c Aug 6 8 (7 ,131 1-4159-2

IQ hlaur I n c Apr 68 (11 ,13) 1-4924-2

N a t i o n a l Lead CO NOV 68 ( 1 2 ) 1-640-2 T h e m o g u l Corp Nov 6 8 (2 ,7 ,13) 2-28030-2

My 6 8 (2,131 2-20030-2

Save-Nor Sunermarke t s I n c Oct 65 (3 ,12 ,13)

I n s u r a n c e Inves tment Corp PJov 6 8 ( 3 ) 0-2761-2

[ j e s t c o a s t Transmiss ion Co LTD

Barnes Hind P h a r m a c e u t i c a l s I n c Nov 6 8 (4 ,11,13) 0-1991-2

N a t i o n a l S t u d e n t Msrker ing Corp S e p 68 (12.13) 0-3211-2

SECURITIES ACT REGISTRATIONS. E f f e c t i v e December 9: The B i l l y Co., 2-29909; Book-of-the-Month Club, I n c . , 2-30844; The Cleve land E l e c t r i c I l l u m i n a t i n g Co., 2-30759 (Mar 4 ) ; Imex Corp. , 2-30227 (90 d a y s ) ; Lane I n d u s t r i e s , I n c . , 2-30267 (Mar 6 ) ; Mar-Pex 1968 L t d . , 2-29550; Omaha N a t i o n a l Corp. , 2-30175 (90 days ) ; P remier I n d u s t r i a l Corp. , 2-30729; The I n t e r p u b l i c Group o f Companies, I n c . , 2-30151. Withdrawn December 6: North Canadian O i l s L i m i t e d , 2-29685.

NOTE TO DEALERS. The p e r i o d o f t i m e d e a l e r s a r e r e q u i r e d t o u s e t h e p r o s p e c t u s i n t r a d i n g t r a n s a c t i o n s is shown above i n p a r e n t h e s e s a f t e r t h e name o f t h e i s s u e r .

*As e s t i m a t e d f o r purposes o f computing t h e r e g i s t r a t i o n f e e .