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               SECURITIES AND EXCHANGE COMMISSION


LITIGATION RELEASE NO. 15145 / November 4, 1996

Securities and Exchange Commission v. Quarter Call, Inc., John
Glenn Kendall, Thomas C. Yost, Robert P. Carrigan, and Robert J.
DiToro, D. Colo. Civil No. 94-Z-1227.

   The Securities and Exchange Commission announced that on
October 29, 1996, Judge Zita Weinshienk of the United States
District Court for the District of Colorado issued a Final
Judgment against John Glen Kendall, the president and owner of
Quarter Call, Inc., a company based in Bethesda, Maryland.

     The Court found that the pay telephone sale and lease back
agreements that Mr. Kendall and others sold during 1993 and 1994,
while employed by Quarter Call, Inc., were securities in the form
of investment contracts subject to the federal securities laws.
The Court found that Mr. Kendall and others made fraudulent
statements during sales presentations to get investors to
purchase the investment.  The fraudulent statements included
representations that the pay telephones would earn a 25 percent
return; that the company had installed 1,800 pay telephones; that
the average pay telephone earns $250 a month; and that Quarter
Call Inc. would repurchase the pay telephones from investors in 5
years.  Mr. Kendall and others also failed to tell investors that
Thomas C. Yost, the former vice president of Quarter Call, Inc.
had a criminal conviction, and that Maryland had entered a cease
and desist order against the company in March 1994 for violations
of the state's securities laws.

     Based on its findings that Mr. Kendall had violated the
anti-fraud provisions of the federal securities laws, the Court
ordered him to pay disgorgement of $631,747.51 and prejudgment
interest of $151,649.78.  The amount of disgorgement was set
based on a portion of Mr. Kendall's salary, all executive
disbursements, and money that Quarter Call Inc. had paid to
another company owned by Mr. Kendall.  Mr. Kendall is to pay the
disgorgement and prejudgment interest into the bankruptcy estate
of Quarter Call Inc., which is filed with the United States
Bankruptcy Court for the District of Maryland, so that it will
benefit the investors who are creditors of the bankruptcy estate.