SMA Y CROSSED RWY FINAL APCH COURSE WITHOUT CLRNC HAD NMAC WITH ACR X. PLTDEV.

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I HAD CLRED ACR X TO LAND ON RWY 32. ACR X TURNED FROM A R BASE TO A 3 MI FINAL. SMA Y WAS OPERATING A BANNER TOW OP IN THE ARSA. SMA Y IS NOT TRANSPONDER EQUIPPED; AND OPERATES UNDER A WAIVER. SMA Y HAD RPTED 9 MINS PRIOR TO THE INCIDENT OVER DOWNTOWN SARASOTA (5 MI S OF THE FIELD AND WELL W OF THE APCH CORRIDOR FOR RWY 32). 1-1/2 MINS PRIOR TO THE INCIDENT; SMA Y CALLED OVER UNINTELLIGIBLE INBOUND BANNER DROP AND LNDG. I INFORMED SMA Y I DIDN'T KNOW WHERE THAT WAS AND ASKED FOR ANOTHER LANDMARK. I SAW ACR X ON FINAL BUT COULDN'T SEE SMA Y. ACR X RPTED ANOTHER ACFT IN CLOSE PROX ON FINAL JUST AFTER HE LANDED. BOTH ACFT LANDED SAFELY. I BELIEVE IF THE BANNER TOW ACFT HAD BEEN TRANSPONDER EQUIPPED; THIS WOULD NOT HAVE OCCURRED. WE WILL BE MAKING CHANGES TO THE PROC UNDER WHICH THE BANNER TOW ACFT OPERATE. I SHOULD HAVE TAKEN MORE POSITIVE ACTIONS TO ASCERTAIN EXACTLY WHERE SMA Y WAS SO I COULD HAVE PROVIDED TA'S TO BOTH ACFT IN A TIMELY AND BENEFICIAL MANNER. SUPPLEMENTAL INFO FROM ACN 203424: ACR X ON APCH TO SRQ EXPERIENCED A NMAC. WHILE ON ILS LOC AND GS TO RWY 32 AT APPROX 500 FT AGL; SMA WAS OBSERVED AT OUR 9 O'CLOCK POS IN A R DSNDING TURN. THE SMA WAS LESS THAN 500 FT HORIZ AND LESS THAT 100 VERT FROM OUR ACFT. IT APPEARED THE SMA WAS MAKING AN EVASIVE MANEUVER TO AVOID HITTING OUR AIRPLANE. THE SMA WAS ONLY IN VIEW FOR AN INSTANT AND WE TOOK NO EVASIVE ACTION. THE WX WAS CLR WITH GOOD VISIBILITY. THE FLT LANDED ROUTINELY WITHOUT INJURIES. THE TWR CTLR WAS TALKING TO HIM; BUT BECAUSE OF NO TRANSPONDER; I DON'T BELIEVE THE CTLR HAD A POSITIVE VISUAL CONTACT WITH THE ACFT. IT WOULD APPEAR A MORE STANDARD PRACTICE FOR SMALL ACFT ENTRY INTO THE TFC PATTERN WOULD HELP THIS FROM HAPPENING AGAIN. IT MAY HAVE BEEN THE PLT OF THE SMA WAS NOT ENTERING/HOLDING WHERE HE SAID HE WAS; AND GOT DISORIENTED. WHY WAS HE INSIDE THE ATA; TALKING TO TWR; YET TWR DID NOT REALLY KNOW HIS LOCATION? SUPPLEMENTAL INFO FROM ACN 203618: ON MAR/SUN/92; I WAS TOWING A BANNER ON A HDG OF N. I WAS INBOUND TO SARASOTA FOR A BANNER DROP AND LNDG. I HAD MADE A POS RPT OVER THE WHITE SOX BALLPARK; STATING THIS; AT ABOUT XA55 HRS. I RECEIVED WHAT I THOUGHT WAS AN ACKNOWLEDGEMENT FROM THE TWR; AND REPLIED WITH MY CALL SIGN. DUE TO THE AMOUNT OF TFC; I MONITORED THE TWR AS I PROGRESSED TOWARD THE ARPT. I HEARD THE TWR TALK TO ACR X. I LOOKED FOR THEM. WHEN I SAW THEM PASS IN FRONT OF ME; THEY WERE ABOVE ME. AT THIS TIME I WAS ABOUT 3 MI FROM THE SARASOTA BRADENTON ARPT; AND SW OF THE EXTENDED CTRLINE OF RWY 32. SINCE AT THIS TIME; I SAW NO PROBLEMS OF CLRNC BTWN US; I MAINTAINED MY FLT NWARD FOR BANNER DROP AND LNDG.