| Show k i fes r Prince Climbs From Conunodities Pit Fishy Chip To Concentrate on Politics Writing Making a By David Dishneau Associated Press Writer CHICAGO — Multimillionaire Richard J Dennis known as the “Prince of the Pit” before last October’s stock market crash sent his p- commodities trading business into a nosedive said last week he was quitting to concentrate on politics Dennis 39 said the fortune — re- portedly around $200 million — that he Democratic campaigns since 1980 including the 1984 presidential bid of former Vice President Walter Mondale and the 1986 Illinois gubernatorial campaign of Adlai Stevenson Dennis donated $10 million to establish the Roosevelt Center a liberal think-tanwith offices in Washington and Chicago He also is among the leading financial backers of "People for the American Way” a liberal group that was started as a counterpoint to the conservative Moral Majority A native of Chicago's South Side Dennis began his career in the financial world at 17 as a $1 brokerage house runner After graduating from DePaul University with a degree in philosophy he bought his first exchange seat — on the tiny Mi-- d America Commodity Exchange — at age 21 Dennis now owns seats on every major commodity exchange and runs two companies C&D Commodities a futures trading partnership of which he is managing partner and Richard J Dennis & Co a commodities trading advising firm for managed futures accounts His uncanny success as a trader earned him the nickname "Prince of the Pit on the floors of the Chicago Board of Trade and Chicago Mercantile Exchange But his fortune seemed to turn following last October's financial-market- s collapse in which C&D Com modifies reportedly lost $10 million Two public commodity funds Den k i had amassed m 18 years of trading would serve as a launch pad for his fulltime involvement m "public policy and political endeavors ” “There is only so much satisfaction and utility to the making of money” Dennis said in a statement "I am fortunate to have enough assets and opportunities to try to make a significant impact on our political lives As 1 approach 40 years of age I believe it is time for me to take on this new set of challenges " Dennis said he w'ould not run for office but would busy himself with writing and speaking about public policy and "active involvement with voters and candidates ” No stranger to politics Dennis was national for the unsuc- cessful Democratic presidential campaign of former Arizona Gov Bruce Babbitt He also has made sizable contributions to various other nis launched last year m conjunction with Drexel Burnham Lambert Inc also fell on hard times after the crash After they lost more than 50 percent of their $115 million combined initial value Dennis suspended trading last April on the Richard J Dennis Preferred Futures Funds I and II Both funds resumed trading on Aug 3 following a vote of confidence by investors and each had lost about 3 5 percent when trading was halted for good said Mark Walsh a Dennis & Co spokeman Walsh said Dennis' decision to quit trading was not related to the losses of the two funds Walsh blamed the losses on "choppy markets — the worst markets we've seen in 10 years " Dennis’ exit from the futures business was not unexpected according to veteran traders on the floor of the Chicago Board of Trade 1 personally was surprised he stayed around so long" said Jerry Zusel manager of CBOT floor operations for Balfour Maclaine Corp "With the fact that he’s made so much money I couldn’t understand why he’d want to keep risking The Salt Big Splash SANTA CLARA Calif (UPU — National Semiconductor Corp has designed an analog chip for electiomcs firms that wanted to build fish finders The chip's features also reeled in other manufacturers who had their own ideas of how to use it They include — Several newspaper publishers which use the chip to control the amount of ink in their printing presses — Food distributors which use the chip to separate 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