BUSINESS MEMO

Camelot Music Inc., founded in 1956 and based in North Canton, Ohio, has been sold.

Paul L. David, chairman, president and chief executive officer of Camelot, announced that an agreement has been reached for the sale of the company to Investcorp, an international investment firm.

The sale is expected to be completed by mid-November.

Camelot operates 366 stores in 34 states, including a store in West Park Mall in Cape Girardeau.

Investcorp has offices in New York and London.

The Missouri Association of Legal Secretaries will conduct a seminar Nov. 13 at Lodge of the Four Seasons, Lake Ozark.

Topics include malpractice claims, how to avoid physical injury and risky ethical situations.

The seminar is open to attorneys, legal secretaries, legal support staff and the public. Cost is $45 for association members and $55 for non-members. Additional information is available by calling Jackie Givens, 335-8278, of the Cape Girardeau County Legal Secretaries Association.

Capital Bancorporation's net income for the three months ended Sept. 30 was $1,773,000. Earnings per common share and common equivalent share for the three months were 54 cents, up from the 45 cents for the third quarter of 1992.

The allowance for possible loan losses was $10,445,000, representing approximately 204 percent of non-performing loans and approximately 1.77 percent of total loans.

On Oct. 18, the Board of Directors declared a regular quarterly cash dividend of 17 cents per share on common stock payable Nov. 4 to shareholders of record Oct. 28, and declared the quarterly cash dividend with respect to the preferred stock (depositary shares) payable Dec. 1 to holders of record Nov. 24.

Capital Bancorporation is a multibank holding company headquartered in Cape Girardeau.

Knaup Floral Co. of Cape Girardeau was recently recognized as a "Top 1,000" member of Florists' Transworld Delivery Association.

Each year the Top 100, 200, 500 and 1,000 FTD members are given special recognition based on the number of floral orders sent through FTD. Knaup Floral, 136 S. Pacific, received a plaque in recognition of the honor.

"Tax Reforms in the '90s" is the topic of a teleconference to be held from 10 a.m. to 4 p.m. at the University Center at Southeast Missouri State University Nov. 4.

The live, interactive program will provide tax practitioners, attorneys, certified public accountants and certified management accountants with information they need to comply with new tax legislation passed by Congress.

The program will feature open phone lines for participants to direct questions to the guest panel, which includes Rep. William J. Coyne, D-Pa., senior member of the House Ways and Means Committee; Rep. Rick Santorum, R-Pa., a member of the House Ways and Means Committee; Gary J. Gasper, former assistant to the IRS commissioner; and Richard Shaw, vice chairman of the American Bar Association's Section of Taxation and editor of Journal on Corporation Taxation.

Also present will be a panel of local tax experts.

Cost of the program is $50, which includes all program materials and lunch. Additional information is available by calling (314)-651-2118.

Commerce Bancshares Inc. has announced a 19.6 percent increase for the nine-month period ending Sept. 30 over the same period in 1992. The firm reported $63.8 million for the first nine months compared to $53.4 million for the same period a year ago.

Per-share earnings were $2.02, an increase of 10.4 percent over the $1.83 payment for the same period in 1992. The return on assets for the nine months was 1.13 percent.

Net income for the quarter ended Sept. 30 was $21.5 million, an increase of 13 percent compared to $19 million during the same period of 1992. Quarter per-share earnings for the were 67 cents compared to 63 cents a year ago.

In announcing the results, David W. Kemper, chairman and chief executive officer, said, "Our improved core earnings reflect growth and stability in the net interest margin and non-interest income offset by somewhat higher expenses."

He said the company expects to complete the acquisition of Lawrence County Bank of Aurora during the fourth quarter this year and Commerce Bank in Lawrence, Kan., shortly after year's end. "In addition to internal growth, we view planned acquisitions in growth markets in our region as an important factor in establishing Commerce Bancshares as a super community bank," Kemper said.

CINCINNATI - In a new twist on one-stop shopping, two grocery chains are selling flu shots.

In the program that began Sept. 13, SeaWay charges $8 a shot, alternating three days a week among its 45 supermarkets in northwestern Ohio and southeastern Michigan and its 20 discount drug stores.

"It's been wild," Pat Nowak, director of public relations for SeaWay Food Town Inc. of Toledo, said. "We thought if we got 50 a day we would be ecstatic; we're averaging 338 a day."

Kroger Co., the nation's largest grocery chain, started offering A-Beijing flu shots last week. It also charges $8 a shot and plans to offer vaccinations in 50 Cincinnati-area stores through Nov. 5.

Registered nurses administer the shots.

CHICAGO - Sears, Roebuck and Co. reported earnings of $388.4 million for the third quarter compared to a loss of $853.8 million in the same quarter of 1992.

Company Chairman Edward Brennan attributed the strong showing to a company restructuring and improved performance in merchandising and insurance businesses.

The third-quarter earnings amounted to 98 cents per share compared with a loss of $2.30 per share a year earlier.

Sales rose 8.6 percent to $12.7 billion from $11.7 billion in the third quarter, excluding the businesses that Sears is leaving such as the domestic catalog operation.

Sears has a store at 2102 William in Cape Girardeau.