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SEC News Digest, 01-26-1990

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SEC News Digest, 01-26-1990 sec nas di ..est Issue 90 ..18 _ January 26, 1990 JAN 2 9 \990 ~.s.SECURITIES ANti ::Xaw«2 COMMISSION WEEKLY CALENDAR The following is a schedule of speaking engagements, Congressional testimony, Commission hearings and other public events involving the Commission for the week of January 29, 1990. (Commission Meetings are announced separately in the News Digest.) Thursday. February 1 * Chairman Breeden will testify before the Senate Subcommittee on Securities of the Senate Banking Committee on Thursday, February 1, beginning at 9:30 a.m. The subject of the hearing, which will be in Room 538 of the Dirksen Senate Office Building, is the Securities Law Enforcement Remedies Act. ·.·~RIM:[NAL••••••})iQc.lat·.G$· ••••·•••••••••·•••••·•·•.•.... QUILLIN PORTER SENTENCED The Fort Worth Regional Office and the U.S. Attorney for the Western District of Arkansas announced that on January 17 Judge H. Franklin Waters sentenced Quillin Porter, formerly of Fayetteville, Arkansas, to 15 years incarceration and restitution of up to $2.2 million. On the same date, J. Bert Curtsinger, a business associate of Porter, was sentenced by Judge Waters to a five-year suspended sentence and restitution of approximately $370,000. Porter had previously pled guilty to mail fraud and the sale of unregistered securities, and Curtsinger had previously pled guilty to mail fraud. The pleas were the result of investigations by the Commission, the U.S. Attorney's Office and the Arkansas Securities Department. On November 29, 1988, Porter was permanently enjoined from future violations of the antifraud and registration provisions of the securities laws and ordered to turn over approximately $30,000 to the trustee in a related bankruptcy. Porter consented to the Final Judgment without admitting or denying the allegations, in an action brought by the Commission. [SEC v. Quillin Porter et a1., USDC, WDAR, Civil Action No. 87- 5068] [U.S. v. Quillin Porter, USDC, WDAR, Criminal Action No. 88-50014] [U.S. v. J. Bert Curtsinger, USDC, WDAR, Criminal Action No. 89-50014] (LR-12354) .... .... ,'.". ' .... IWESTMENT COMPANY. ACT RELEASES MACKAY-SHIELDS MAINSTAY SERIES FUND An order has been issued on an application filed by MacKay-Shields Mainstay Series Fund, et al., under Section 6(c) to amend a prior order (ReI. IC-16733 of December 30. 1988) which granted an exemption from Section 32(a) of the Investment Company Act. The order brings the prior order into conformity with Rule 32a-3. (ReI. IC-17318 - Jan. 23) FIDELITY INVESTMENTS LIFE INSURANCE COMPANY A notice has been issued giving interested persons until February 20 to request a hearing on an application filed by Fidelity Investments Life Insurance Company, Fidelity Investment Variable Annuity Account I, and Fidelity Brokerage Services, Inc. for an order exempting them from Section 22(d) of the Investment Company Act to the extent necessary to permit the proposed waiver of the contingent deferred sales charge in connection with the redemption of certain variable annuity contracts under defined circumstances. (Rel. IC-l73l9 - Jan. 23) NATIONWIDE LIFE INSURANCE COMPANY A notice has been issued giving interested persons until February 20 to request a hearing on an application filed by Nationwide Life Insurance Company, Nationwide Ohio DC Variable· Account (Variable Account), and Nationwide Financial Services, Inc. for an order under Section 8(f) of the Investment Company Act declaring that the Variable Account has ceased to be an investment company. (ReI. IC-17320 - Jan. 23) .:-:,.-:".",."'-:".':.'.:, .. ,. ,.':';; . , , ... , --, SELF-REGULATORY ORGANIZATIONS .... ".; -::: ;.<;:,:: .• : ... ' .... t ; IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE A proposed rule change filed by the Philadelphia Stock Exchange (SR-Phlx-90-0l) to codify regulations governing the administration and enforcement of compliance with the Phlx's new card key access/security system has become effective under Section 19(b)(3)(A) of the Securities Exchange Act. (ReI. 34-27629) ACCELERATED APPROVAL OF PROPOSED RULE CHANGE The Commission has approved a proposed rule change and noticed and approved on an accelerated basis an amendment to the rule change submitted by the Pacific Stock Exchange (SR-PSE-89-27) to establish a Lead Market Maker (LMM) System for certain options classes. Publication of the approval order is expected to appear in the Federal Register during the week of January 22. (ReI. 34-27631) 2 NEWS DIGEST, January 26, 1990 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 managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. S-4 FREEPORT MeIDRAI OIL & GAS CO. 1.15 POYDRAS STREET. lEW ORLEAIS. LA 10112 (504) 582-4000 - 28.200.000 ($250.850.000) COIIDI STOCK. (FILE 83-33030 - JAI. 12) (BR. 12 - lEW ISSUE) S-1 SAHARA FIIAICE CORP. 2585 LAS YEGAS BOULEYARD SOUTH, LAS YEGAS. IY 8.10. (102) 181-2111 - 11'.200.000 ($11'.200.000) IDRTGAGE BOlDS. (FILE 8S-S8031 - JAI. 12) (BR. 12 - lEW ISSUE) S-1 AIERICAI COSIETIC & PHARMACEUTICAL IIC. 2.00 WESTCHESTER AYEIUE. PURCHASE. IY 10577 ('14) "4-'845 - "0,000 ($3.450.000) COIIDI STOCK. 1.380,000 ($4.140,000) COIIDI STOCK. 10,000 ($10) WARRAITS. OPTIOIS OR RIGHTS. '0,000 ($310.000) COIIDI STOCK. 120.000 ($110.000) COIIDI STOCK. UIDERWRITER: WEGARD L C & CO IIC. (FILE 81-11034 - JAI. 12) (BR. 4 - lEW ISSUE) 5-1 PIOIEER FED BAICORP IIC •• 00 FORT STREET MALL, HOIOLULU, HI ••813 (808) 522-1"0 - 2.200,000 ($25,300.000) COIIDI STOCK. (FILE 11-11011 - JAI. 12) (BR. 1 - lEW ISSUE) 5-1 SEARS TAX EXEMPT IIVESTMEIT TRUST CALIFORIIA MUI PORT SER '4, TWO WORLD TRADE CITR. CIO DEAl WITTER REYIOLDS IIC. lEW YORK, IY 10048 DEPOSITOR: DEAl WITTER REYIOLDS IIC. (FILE 13-1801' - JAI. 17) (BR. 22 - lEW ISSUE) S-' SEARS'TAX EXEMPT IIVESTMEIT TRUST LOla TERM MUI PORT SEI '7. TWO WORLD TIADE CITR. CIO DEAl WITTER REYIOLDS IIC. lEW YORK, IY 10048 DEPOSITOR: DEAl WITTER REYIOLDS IIC. (FILE 33-31070 - JAI. 17) (BR. 22 - lEW ISSUE) 5-8 PUBLIC SERYICE EITERPRISE GROUP IIC, 80 PARK PLZ, POBOX 1171, IEWARK. IJ 07101 (201) 480-7000 - 4.815.'81 ($134.244.244) COIIDI STOCK. (FILE 38-38071 - JAI. 17) (B•• 18) S-8 HUMAIA IIC. 500 W MAIl ST. LOUISYILLE. KY 40202 (502) 580-1000 - 4,400.000 ($178,200.000) COIIDI STOCK. (FILE 88-33012 - JAI. 11) (BR. 13) 5-1 GEIERAL AIERICAI TRAISPO.TATIOI CORP IIY/. 120 S RIYERSIDE PLZ. CHICAGO. IL .0.0. (a~2J '21-'j~O - 282.li~,OOO ,$2j2.150.000) STRAIGHT 101DS. (FILE 33-38078 - JAI. 17) (BR. 18) 5-18 FABULOUS IERGERS IIC, 220 EAST 15TH ST STE 'M. lEW YORK. IY 10021 (212) 888-'730 - 28.750 ($172.500) COMIDI STOCK. 287.500 ($1.437.500) COIIDI STOCK. 281.500 ($1.125.000) COMIDI STOCK. 2.500 ($2) WARRAITS, OPT lOIS OR lIGHTS. 27,500 ($1".050) COIIDI STOCK. UIDERWIITER: GRADY & HATCH & CO IIC. (FILE 33-32881-IY - JAI. 10) (BR. 12 - lEW ISSUE) S-18 SUI REPORTER. 3550 BISCAYIE 8LVDSTE 407. MIAMI. FL 31131 (105) 57'-117' - 15,000 ($150.000) COIIDI STOCK. 3,000.000 ($450.000) COIIDI STOCK. 150.000 WARRAITS, OPT lOIS OR RIGHTS. (FILE 31-32882-A - JAI. 11) (BI. 11 - lEW ISSUE) 5-18 RELSTRATE CORP. 1.5 IE 11 ST. MIAMI. FL 33138 (305) 754-1"2 - 15.000 ($150.000) COIIDI STOCK. UIDERWRITEI: WHITE & STOlE IIC. (FILE 83-32883-A - JAI. 11) (BI. 4 - lEW ISSUE) 5-8 ELECTIO CATHETER CORP, 2100 FELYER CT. RAHWAY. IJ 010.5 (201) 382-5'00 - 525.000 ($'04.720) COIIDI STOCK. (FILE 33-32'21 - JAI. 1.) (BR. 8) 5-8 CORESTATES FIIAICIAL CORP. I.E. CORIER BROAD & CHESTIUT STS. PHILADELPHIA IATIOIAL BAlK BUILDIIG. PHILADELPHIA. PA 1.101 (215) '73-3504 - 81.000.000 ($8'.000.000) OTHER SECURITIES IICLUDIIG VOTIIG TRUST. (FILE 33-32". - JAI. 17) (BR. 1) 1-2 IICHOLAS APPLEGATE GROWTH EQUITY FUID IIC, DIE SEAPORT PLZ. lEW YORK. IY 102.2 (212) 214-1250 - 2.873.800 ($24.084.725) COIIDI STOCK. '.4'5.200 COIIDI STOCK. (FILE 11-12"0 - JAI. 1.) (BR. II) NEWS DIGEST, January 26, 1990 3 REGISTRATIONS EFFECTIVE Dec. 1: ADSs for Kyocera Corp. (Citibank, N.A.), 33-32358. Dec. 21: Caterair Holdings Corp., 33-31307; Exide Electronics Group, Inc., 33-31872; Clobal Utility Fund, Inc., 33-25553; MIPS Computer Systems Inc., 33-31958; Needle In A Haystack, Inc., 33-3l359C; The News Corp. Ltd., 33-32585-01; and Newscorp Cayman Island Ltd., 33-32585. Dec. 22: Acclaim Entertainment, Inc., 33-32349; Boardwalk Convention Hotel Partners, Ltd., 33-31253; Chrysler Financial Corp., 33-32484; Dean Witter Reynolds Inc., Sponsor of Sears Equity Investment Trust, Selected Opportunities, Series 2 (33-32212); Orchard Supply Hardware Corp., 33-31680; South Carolina National Corp., 33-32339; Summit Environmental Group, Inc., 33-31973; and Worldwide Capital Ltd., 33-3l357-NY. Dec. 26: Farmland Industries Inc., 33-32318. Dec. 27: AutoInfo, Inc., 33-32604; Capital Asset Corp., 33-31654; F-lOOO Futures Fund L.P., Series VI, 33-31665; MCA Inc., 33-32621; Phoenix Leasing Cash Distribution Fund IV, 33-30112; and Province de Quebec, 33-32719. Dec. 29 Caro1co Pictures, Inc., 33-32268 and 32269; CMC Fund Trust, 33-30394; E.I. DuPont De Nemours & Co., 33-32657; GS Mortgage Securities Corp., 33-32743; and GS Trusts, 33-32743-01. Jan. 1: Color Sciences Corp., 33-29778. Jan. 4: Cascade International, Inc., 33-30477. Jan. 8: Guardian Separate Account D of Guardian Insurance & Annuity Co., Inc., 33- 31755; Philadelphia SuburbanCorp., 33-32480; and Western Themed Waterparks, Inc., 33- 30316-D.
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