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                SECURITIES AND EXCHANGE COMMISSION
                         Washington D.C.


LITIGATION RELEASE NO. 15304, March 24, 1997

SECURITIES AND EXCHANGE COMMISSION V. HUGH THRASHER, JOHN H.
ANDERSON, EZRA CHAMMAH, STANLEY ELBAUM, SCOTT FORBES, GUILLERMO
GOMEZ a/k/a WILLIAM GOMEZ, STEPHEN V.R. GOODHUE, JR., IRA GORMAN,
GORMAN COMMODITIES & SECURITIES, INC., JONATHAN S. HIRSH, RONALD
KUZNETSKY, DARRELL SANDY MARSH, JACK P. MARSH, MICHAEL R. NEWMAN,
ROGER K. ODWAK, ANGELO PETROTTO, LEE ROSENBLATT, ROBERT SACKS,
JEFFREY A. SANKER, DAVID SCHAEN, LEONARD SCHAEN, JULIAN SCHOR,
GREGG R. SHAWZIN, AND MARK R. SHAWZIN, 92 Civ. 6987  (JFK)
(S.D.N.Y.)

     The Securities and Exchange Commission ("Commission")
announced that on March 3, 1997, the United States District Court
for the Southern District of New York entered Final Consent
Judgments of Permanent Injunction and Other Relief against three
defendants:  Gregg R. Shawzin ("Shawzin"), John H. Anderson
("Anderson"), and Jeffrey Sanker ("Sanker").  According to the
Commission's amended complaint filed on March 4, 1993, the
defendants engaged in insider trading in the securities of Motel
6, L.P. ("Motel 6") while in possession of material, nonpublic
information concerning a planned tender offer for the company. 

     Without admitting or denying the allegations of the amended
complaint, Shawzin, Anderson, and Sanker each consented to a
permanent injunction from violating Sections 10(b) and 14(e) of
the Securities Exchange Act of 1934, and Rules 10b-5 and 14e-3
thereunder.  Shawzin agreed to pay $3,239,098.54 in disgorgement
of profits and prejudgment interest thereon, but in light of a
demonstrated inability to pay based upon his sworn
representations in a statement of financial condition, the
Commission agreed that payment of the entire amount would be
waived and Shawzin would not pay a civil penalty pursuant to the
Insider Trading and Securities Fraud Enforcement Act of 1988
("ITSFEA").  Anderson agreed to pay $2,740,185.62 in disgorgement
of profits and prejudgment interest thereon, but in light of a
demonstrated inability to pay based upon his sworn
representations in a statement of financial condition, the
Commission agreed that payment of the entire amount would be
waived and Anderson would not pay a civil penalty pursuant to
ITSFEA.  Sanker agreed to pay $50,089.43 in disgorgement of a
portion of the profits and prejudgment interest thereon of one of
his tippees, but in light of a demonstrated inability to pay
based upon his sworn representations in a statement of financial
condition, the Commission agreed that payment of all but $13,500
would be waived and Sanker would not pay a civil penalty pursuant
to ITSFEA.
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     The Commission's amended complaint alleges that between late
May 1990 and until and including July 12, 1990, Hugh Thrasher, an
insider at Motel 6, for his personal benefit and in breach of his
duty to Motel 6 and its shareholders, communicated material,
nonpublic information concerning negotiations for the acquisition
of Motel 6 to his close personal friend, Carl Harris ("Harris"). 
The Commission alleges that Harris thereafter tipped numerous
people, including Shawzin and Sanker.  Harris' tippees also went
on to tip others.  The Commission alleges that Shawzin tipped
Anderson, among others, and Sanker, who did not trade Motel 6
securities himself, tipped Jonathan Hirsh and Scott Forbes in
exchange for a portion of their profits.  (See prior Litigation
Release No. 13544 for a further description of the allegations
contained in the Commission's amended complaint.)