IN BRIEF.

VALLEY INDEX FALLS: Stocks in the Daily News/Bloomberg Index fell 1.02 to 139.10, led by Burbank's The Walt Disney Co. and Tekelec of Calabasas. Disney fell 2 9/16 to 108-3/8. Tekelec fell 1 13/16 to 42 11/16.

- Bloomberg News

T-BILL RATES FALL: Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $5.79 billion in three-month bills at an average discount rate of 4.960 percent, down from 5.05 percent last week. An additional $7.26 billion was sold in six-month bills at an average rate of 5 percent, down from 5.075 percent.

- Associated Press

APARTMENTS SOLD: Sales of two apartment complexes comprising an aggregate 351 units closed last month, officials said. A 151-unit complex that straddles the 7200 blocks of De Soto and Kelvin avenues in Canoga Park was sold for $5.5 million, according to the Los Angeles office of Marcus & Millichap Real Estate Investment Brokerage Co., which handled the transaction but would not name the buyer. Also, the 200-unit Mountain View Meadow Apartments in Sylmar was sold to an Orange County-based partnership for $6.5 million.

- Daily News

DIRECTORS OK MERGER: Todd-AO Corp., a Los Angeles-based film and TV post-production firm, said the directors of London-based Tele-Cine Cell Group voted to accept a purchase offer from the company's subsidiary in the United Kingdom. The price is about 10 million pounds, or $16 million. The offer still has to be approved by 90 percent of Tele-Cine's shareholders. However, the directors already own 54 percent of the stock. Tele-Cine is a post production and special effects film and video firm.

- Daily News