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INDUSTRY NOTES

August 21, 1986

The Hammond Co. said it has filed an amendment with the Securities and Exchange Commission to a previously filed registration statement, updating it with the Newport Beach mortgage banking firm's latest financial report.

Hammond's first filing on June 12 notified the SEC of the company's intention to issue $6 million in subordinated convertible debt, which will be due in 2001. Donaldson, Lufkin & Jenrette Securities Corp. is the sole underwriter of the offering.

The company said it plans to use the proceeds to provide working capital for mortgage-banking operations and to reduce short-term notes payable before an anticipated expansion of Hammond's loan-origination business.

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