INSTRUCTOR WITH SPI HAS CLOSE PROX WITH SMT DSNDING THROUGH CLOUDS; IFR.

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ON THE RETURN FROM THE DESIGNATED SE PRACTICE AREA; AN INITIAL CALL BY ME WAS PLACED TO TULSA APCH FOR STAGE II BACK INTO TULSA R. L. JONES ARPT. WE WERE; IN MY OPINION 500 FT BELOW THE CLOUDS; INDICATING 1600 FT MSL AIRSPD OF 95 KIAS AND APPROX 3-5 MI SW OF BIXBY HDG 300 DEGS. A SECOND CALL WAS PLACED TO TULSA APCH AS A RESULT OF NO ANSWER TO INITIAL CALL UP. WE CHANGED HDG 270 DEGS AND WERE LOCATED 2 1/2-3 MI SE OF THE TANK FARM AND 1/8-1/4 MI S OF PWR PLANT. TULSA RECEIVED THE SECOND XMISSION AND ADVISED THAT AN SMT WAS ON THE APCH AT 2100 MSL; ABOVE US. I THEN BROUGHT BACK THE THROTTLE AND INITIATED A 500 FPM DSCNT AND LEVELED OFF AT 1300 FT MSL. THE SMT WAS IN IMC AND WE WERE IN VMC. THE REQUEST MADE BY ME TO PROCEED OVER THE TANK FARM THEN STRAIGHT IN TO 1L WAS APPROVED BY TULSA. THE REST OF THE FLT WAS UNEVENTFUL. IN MY OPINION BOTH PARTIES HAVE TO BE VERY VIGILANT IN THEIR FACET OF OP. THE SMA IS OF A HIGH WING CONFIGN WHICH GIVES LIMITED UPWARD VISIBILITY AND THE SMT IS OF A LOW WING CONFIGN. WE CAN SEE THE POSSIBLE CONFLICT THAT MAY ARISE. NOTE: I DIDN'T REALIZE THERE WAS A PROB UNTIL THE PLT OF THE SMT APCHED ME. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: RPTR STATES THAT SMT PLT INDICATED THEY MISSED BY 150 FT AS SMT DSNDED INTO VFR. FAA DID FOLLOW UP INVESTIGATION AND FOUND BOTH PARTIES IN COMPLIANCE. THE MATTER HAS BEEN DROPPED. APPARENTLY THIS PARTICULAR SMT PLT HAS BEEN AN ONGOING COMPLAINER REF THE FLT SCHOOL OPERATING IN AREA WITH LARGER; FASTER ACFT.