Rosses Buy Option in Santa Barbara S&L;:...

Rosses Buy Option in Santa Barbara S&L;: William Belzberg, chairman of Far West Financial in Newport Beach, sold an option to buy 196,000 shares in the parent of Santa Barbara Savings & Loan to Beverly Hills investors Leonard M. Ross and Meri Jean Ross. The Rosses paid $147,000 for the option, which, if exercised, would raise their stake in Financial Corp. of Santa Barbara to 9.9% from 6.7%. The Rosses said they intend to apply for regulatory clearance to acquire more than 10%.