OTHER NEWS - Jan. 18, 1995

Briton Fined $458,000 in Hilton Insider Trading Scheme: In the suit against Gerald Murphy of Liverpool, England, the U.S. Securities and Exchange Commission claimed he sought to profit from his prior knowledge of Hilton’s plans to consider a sale or merger. In an order issued by a federal judge in New York, Murphy was also prohibited from future violations of U.S. insider trading laws. Murphy is a British businessman who owns several firms, including a gift-wrap paper company. The $458,000 includes $301,015 in profits Murphy must give up and a civil fine of $157,443. The SEC said the money will be paid out of $619,539 frozen by the court.