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ESTABLISHED 1839 In 2 Sections—Section 2 The Commercial w Financial Chronicle R«g. U Volume 184 Number 5594 New York 8. Pat Office 7, N. Y., Thursday, December 13, 1956 Price 40 Cents INVESTMENT BANKERS ASSOCIATION OF AMERICA OFFICERS 1956-1957 V ice-President Andrew M. Baird A. G. Becker & Co. Incorporated, Vice-President President Robert H. Craft The Chase Bank, Chicago New York V ice-Presid ent Vice-President William C. Jackson, Jr. First Southwest Company, Dallas W. Carroll Mead Mead, Miller & Baltimore Co., William S. Hughes Wagenseller & Durst, Inc., Los Angeles V ice-Presid ent William H. Morton W. H. Morton & Co., Incorporated, New York a Copy PICTORIAL 2 The Commercial and Financial Chronicle ... Thursday, December 13, 1956 IBA GOVERNORS William M.Adams Gustave A. Alexisson Braun, Bosworth & Granbery, Marache & Co., Incorporated, Co., New H. Wilson Arnold Arnold York City New & J. Murrey Crane, Atkins Ralph D. Baker R. S. Dickson & Co., Orleans James Inc., Charlotte, N. C. Detroit Orlando S. Brewer James R. Burkholder Austin Brown Phelps, Fenn & Co., New York City Dean Witter New & Charles A. Almstedt Brothers, Co., Lee Louisville York City J. Capek Corporation, Coughlin Walter J. Creely Coughlin and Goldman, Company, Denver Sachs & Co., St. Louis Co., Thomas W. Evans Clement A. Evans Clement A. Evans & Company, Inc., Atlanta Warren H. Crowell Crowell, Weedon Los & Angeles C. Charles N. Fisher Allyn and Company National Trust Illinois Bank & Company of Chicago Singer, Scribner, Deane & Pittsburgh Beecroft, Cole & Co., Topeka Harold H. Cook Spencer Trask New York & City Incorporated, Chicago George W. Davis Davis, Skaggs San & Co., Francisco Lester H. Empey American Trust Company, San Francisco Robert W. Fisher 1 Continental Harry Beecroft & Douglas Casey A. Higginson Chicago Walter J. Richardson Sons, Winnipeg Blyth & Co., Inc., New York City Albert 0. Foster Foster & Marshall, Seattle = Co. Volume 184 Number 5594 ... PICTORIAL 3 The Commercial and Financial Chronicle IBA GOVERNORS Bert H. David J. Harris Bache & Co., Stifel, Chicago Horning Nicolaus E. Jansen Hunt & White. Company, Weld New & (Continued) J. Earle Jardine, Jr. James Jackson, Jr. Co. Townsend, York Tyson, Incorporated, Dabney William & & Co., R. Los Staats William T. Kemble Estabrook & Co., Boston Angeles Boston St. Louis William D.Kerr Bacon, Co., Whipple Quitman R. Ledyard Francis S. King <fc Chicago Thh First Boston Corporation, Equitable Securities Corporation, Nashville Hudson B. Lemkau Morgan Stanley & Co. New York Richard H. Martin Pacific Northwest Company, Portland Boston Dennis H. The McCarthy First Boston Corporation, San Donald E. McFarland Ludiow F. North Kalman & Company, Robert W. Baird & Co., Inc., Minneapolis Shepard Prescott, Shepard & Co., Inc., Cleveland & Company, Inc., San Antonio Alfred Rauch Kidder, Peabody & Co. Philadelphia Milwaukee Francisco Robert 0. Incorporated, William C. Porter Dittmar Rudolf Salomon Mark Sullivan, Jr. Smutny Bros. Hutzler, Neto York City & Auchincloss, & Parker Redpath Washington, D. C. Bertram M. Wilde Milton R. Underwood Janney, Underwood, & Neuhaus Co., Incorporated Houston Inc., Dulles & Co. Philadelphia PICTORIAL 4 The Commercial and Financial Chronicle ... Thursday, December 13, 1956 Pictures Taken at 1956 IB A Convention At Foreign Investment Committee—Robert H. Craft, Hollywood Beach Hotel, Florida 77ie Chase Bank, New York, Chairman Newly elected officers for 1957: William S. Hughes, Wagens?ller & Durst Inc., Los Angeles; M Baird, A. G. Becker & Co. Incorporated, Chicago; Robert H. Craft, The Chase Bank, York; William C. Jackson, Jr., first Southwest Company, Dallas; W. Carroll Mead, Mead, Miller & Co., Baltimore; William H. Morton, W. H. Morton & Co., Incorporated New York Andrew New Mr. & Mrs. Robert H, Craft, The Skaggs Chase & Co., Bank San New York; Mr. Francisco; Nancy & Mrs. Davis George W. Davis, Davis, federal Taxation Quitman Stanley Committee—Walter Maynard, Hammill & Co., New York, Chairman R. Ledyard, Equitable Securities Corporation, Nashville; Mrs. Carl H. Doerg" Cleveland; G. McKie, Weil, Roth & Irving Co., Cincinnati; Carl H. Dtferire, Wm. J. Mericka & Co., Cleveland; Charles C. Bechtel, Walling, Lerchen & Co., Detroit; Henry Vandervocrt, Nauman, Special Shear son, Industrial Securities McFawn Committee—W. Yost <6 Co., Fulton, Detrcit Fulton, Reid & Co., Cleveland, Chairman Volume 184 Number 5594 ... The Commercial and Financial Chronicle PICTORIAL 5 ? Mrs- John B. Sanford, White, Hattier & Sanford New Orleans; Frank A. Chisholm,Varnedoe, Chisholm & Co., Savannah; Mr. & Mrs. William Russell Barrow, Barrow •.yinc??rt C. 1y, Commercial & Financial Chronicle, New York; 5 Mrs. W. Jackson, First Mr. & Mrs. Harry Dallas; Southwest Mr. & Mrs. Company, James Dallas F. , Jacques, Leary & Co., Shreveport, La. Gordon Heffern, National City Bank, Cleveland; William P. Sharpc, Mercantile Trust Bankers » Company, St. Louis; Robert C. Trust Company, New York W. Besse, Boston Stock Exchange; Mr. & Mrs. Edmund C. Byrne, Byrne & Phelps, York; Rollin C. Bush, First National City Bank, New York New Frederic P. Mullins, A. E. Masten & Co., Pittsburgh; Claude F. Turben, Merrill, Turben «£ Cleveland; Mrs. Milton G. Hulme; Wallace M. McCurdy, Thayer, Baker & Co., Philadelphia; Milton G. Matthew J. Hickey, III, Hickey & Co., Chicago; Mr. & Mrs. George Erker, Hill Brothers, St. Louis; & McDowell Chicago; John R. Gardner, Reihholdt & Gardner, St. Louis John J. Reed, Straus, Blosser Hulme, Glover £ MacGregor, Pittsburgh Co., Morris, Forrester Eaton Clark, H. C. Wainwright & Co. Boston; Chas. Eaton, Howard, Inc., Boston; Ed Amazeen, Coffin & Burr, Incorporated, Boston & John W. Ahearn, Rockland-Atlas National Bank, Boston; Mr. & Mrs. Warren D. Chiles, Chiles-Shutz Omaha; Marion Dewitz, Salt Lake City; Ralph Elam, Sweney, Cartwright & Co., Columbus, Ohio Co. Mr. & Mrs. Donald C. Patterson, Chemical Corn Exchange Bank, New York; Mr. & Mrs. J. Bradley Green, Guaranty Trust Company, New York; Mr. & Mrs. Don Stoddard, Guaranty Trust Company, New York The Commercial and Financial Chronicle PICTORIAL 6 Worth; Mr. & Mrs. James Mrs. Douglas Hansel, R. P. F. Shields & Company, New York; Mr. & Mrs. Fox, P. F. Fox & Co., New York Vincent Reilly, Commercial & Financial Chronicle, New York; W. W. Mackall, Mackall & Coe, Washington, D. C.; Philip 0. Rogers, John C. Legg & Company, Baltimore; George W. Anderson, Anderson & Strudwick, Richmond, Va.; Milton Underwood, Underwood, Neuhaus & Co., Houston; Charles C. Pierce, Rauscher, Pierce & Co., Inc., Dallas McMahon Mr. M. & J. Hickey, & Mrs. Hoban, W. C. Graham, First National Bank, Ft. Worth, Tex.; E. Graham, & F. Matthew T. T. E. V. Theodore Keith Ft. Co., Low, Ft. Pilfield, W. C. Pitfield Corporation, & Co., New York; E. London, Ont., Canada John McG. S. F. Mr. & Mrs. Walter S. Graham, Allison-Williams Co., Minneapolis; Mr. & Mrs. Wm. N. Edwards, Wm. N. Edwards Calvin Bullock, Ltd., New York Stearns & Co., New York; John R. Haire, New York Stock Exchange; York Stock Exchange; John Latshaw, E. F. Hutton & Company, Kansas City, Curley, Paine, Webber, Jackson & Curtis, New York; Francis S. King, First Boston Corporation, Boston Andrew American Dalenz, Thursday, December 13, 1956 Bear, Funston, New Mo.; John F. III, Hickey & Co., Inc., Chicago; Mrs. George Erker, St. Louis; Edwin Hoban, Chicago; Alan N. Weeden, Weeden & Co., New York; Mr. & Mrs. Duane T. Smith, Small-Milburn Company, Wichita, Kans. Kennedy, Midland Securities Worth; ... W. Craigie, F. Beaubien, B. W. Craigie L. Farrill, G. Beaubien Dawson, & Co., Richmond, & Co., Montreal; Mr. Hannaford, Ltd., Toronto Va.; Mrs. F. Willett, Coe, Washington, D. C. Mr. & Mrs. James Security & Trust Co., Washington, D. C.; Thomas Anglin, Mackall & & "^Volume 184 Number 5594... The Commercial and Financial Chronicle \ Paul O. Burns PICTORIAL 7 I Frederick, Baxter A Company, New York; Mrs. Dana F. Baxter, Cleveland; Edwin F. Peet, A Denton, New York; Gilbert Hattier, Jr., White, Hattier A San ford, New Orleans; Dana F. Baxter, Hayden, Miller A Co., Cleveland Bros. Mrs. Paul Frederick, New York; Edward H. Robinson, Schwabacher A Co., New York; Mrs. Monroe V. Poole, New York; J. Raymond Smith, Weeden A Co., New York; Allan C. Eustis, Jr., Spencer Trash A Co., New York \ Mr. & Mrs. Roy Doolittle, Doolittle A Co., Buffalo .Mr. & Mrs. Anthony E. Tomasic, W. Fairman, Jr., Bache A Co., Chicago; Mr. & Mrs. Henning Hilliard, /. /. B. Hilliard A Son, Louisville; Mrs. Robert G. Howard, New York City; Robert A. W Brauns, McDonnell A Co., New York; John R. Gardner, Reinholdt A Gardner, St. Louis Fred Thomas A Company, Pittsburgh Mr. & Mrs. Herbert V. B. Gallagher, Yarnall, Biddle A Co., Phila. Proctor Winter, Harriman Ripley A Co., Inc., New York; Samuel B. Payne, Morgan Stanley A Co., New York; Robert H. B. Baldwin, Morgan Stanley A Co., New York; George De B. Bell, Drexel A Co., Philadelphia; Robert G. Howard, Reynolds A Co., New York i Robert B. Blyth, National City Bank, Cleveland; Mr. & Puerto Rico; Mr. & Mrs. John Pershing, Jr., Bank for Joseph Wise, Dean Mrs. John Towne, Jr., Government Development Government Development Bank for Puerto Rico; Witter A Co., New York Law A Co., Spartanburg, S. C.; Donald C. Stroud, Morse, Lehman Brothers, New York City; John H. Henry J. Blackford, Jr., A. M. New York Higginson City; Walter E. Corporation, New York City; Frank J. Brophy, R. S. Dickson A McDonnell A Co., Stafford, Jr., Lee Co., Inc., New York The Commercial and Financial Chronicle PICTORIAL 8 Mr. Mrs. & Mr. & H. T. Mrs. Birr, III, First California Company, San Francisco; Coffin A Burr, Incorporated, Boston Eugene H. Cassell, C. F. Cassell Charlottesville, Va. A Co., Mr. & Mrs. Edward Amazeen, * ' Clement & Mrs. « ' Mrs. Co., Buffalo; Gatchell, Mr. & Thursday, December 13, 1956 Hayden, Stone A Co., New York; Mr. & Mrs. Roy Doolittle, DooVittle Mrs. Max A. Hewitt, Jones, Kreeger A Hewitt, Washington, D. C. Allen A. Evans, Clement A. Evans A Co. Inc., Atlanta; Mr. Joseph T. Johnson, The Milwaukee Company, Milwaukee C. du Bois, Wertheim Bacon, A Co., Whipple A New York; William D. Kerr, Co., Chicago ■ Francis S. King, First Boston Corporation, Boston; Eugene E. Trefethen, Jr., Kaiser Industries Corporation, San Francisco; B. H. Whitbeck, First Boston Corporation; New York; Ralph E. Phillips, Dean Witter A Co., Los Angeles Carr Payne, Cumberland Be-urittes Corporation, Nashville; Sherman Ellsworth, Wm. P. Harper & Son & Co^ SeatUe; James F. Willett, American Security A Trust Co., Washington, D. C.j Mr. & Mrs. Edwin B. Horner, Scott, Horner & Mason, Lynchburg, Va.; Mrs. Ludwell A. Strader, Lynchburg, Va.; William C. Porter, Dittmar A Company, San Antonio Earle & A Mr. ... Mr. & Mrs. Distributors Harold X. Schreder, Group, Mr. Wallace Fulton, Distributors Croup, Incorporated, New York; Herbert R. Anderson, Incorporated, New York; Francis X. Coleman, Gregory A Sons, New York; & Mrs. James F. Jacques, First Southwest Company, Dallas National Association of Securities Dealers, Washington, D. C.; Clement A. Evans, Clement A. Evans A Co., Inc., Atlanta; Hugh D. Carter, Jr., Courts & Co., Atlanta; Arthur C. Burns, Eastman Dillon, Union Securities A Co. New York; Mr. & Mrs. Frederick Seving, . Butcher A Sherrerd, Philadelphia Volume 184 Number 5594... The Commercial and Financial Chronicle PICTORIAL 9 ■m.m \ y yi Mr. & Mrs. B. J. Van Ingen, B. J. Van Ingen A Mrs. Walter Co., Inc. New York; Morse, New York Mrs. Frank Morse, New YorkJj Mr. & Mrs. r Mr. Mrs. & Francisco; Alger J. Jacobs, Crocker-Anglo Thomas W. Evans, Continental Trust Co., Chicago; National Illinois Marion McCarthy San hy, Miss Bank, / National & d & Charles Arthur Francisco Earle Fridley, Fridley, Hess > Schoeneberger, Central Republic Company,. Chicago; Goodwin, Jr., Rowles, Winston A Co., Houston; Charles K. Morris, F. S. Yantis & Co., Inc., Chicago A. E. Mr. & Mrs. Alexander S. Lynn, Sterne A gee Mrs. John W. Pancoast, Dewar, Robertson A Pancoast, San Antonio; Robert Clark, Bullock Ltd., New York} Mr, A Mrs. Albert 0, Foster, Foster A Marshall, Seattle * A Frederking, Houston; Mr. & Mrs. L. Walter Dempsey, Van Ingen A Co., Inc., New York San l Bank Carolyn Clarke; Harrison Clarke, Johnson, Lane, Space & Co., Atlanta; Yearley IV, The Robinson-Humphrey Company, Atlanta; Mr. & Mrs. Henry & Leach, Birmingham Mr. • Calvin Mr. & Mrs. Robert G. Rowe, Stroud A Company, Incorporated, Philadelphia; Mr. & Mrs. Russell M. Ergood, Stroud & Company, Incorporated, Philadelphia Joseph F. Lockett, Jr., Townsend, Dabney A Tyson, Boston; Mr. & Mrs. Miles A. Watkins, Stubbs, Smith A Lombardo, Birmingham; Mr. & Mrs. Sidney J. Mohr, Jr., Thornton, Mohr A Farish, Montgomery Janet Taylor, New York; Mr. A Mrs. Nigel Gunn, Bell, Gouinlock A Co., Toronto; Mrs. Edwin M. Kennedy, London, Ont., Canada; Jack KingsmUl, Investment Dealers' Association of Canada, Toronto The Commercial and Financial Chronicle PICTORIAL 10 William Jones J. Earl K. Jr., W. Bassett, W. E. Hut ton & Co., New York; E. Hutton vestment Ora C. Samuel Roehl, James M. Hutton, Robert Stevenson, 3rd, Bankers Association, Washington, D. C. & Co., Cincinnati; Leonard & Eastman Lynch Pittsburgh Nathan K. Parker, Kay Richards A Co., Pittsburfh Dillon, Union Fulton Keystone Company of Boston; Mr. & Mrs. Henry F. Cate, Boston; Mr. & Mrs. S. L. Sholley, Keystone Company of Varnedoe, Varnedoe, Chisholm & Co., Savannah; J. Hollis W. Tindall <ft Co., Atlanta; Charles McK. Lynch, Moore, Baldwin, York; New Keystone Securities Reid Company of & Co., & Co.; R. C. Chapman, John H. Charles C. Cleveland Mrs. S. L. Thursday, December 13, 1956 Nesbitt, Thomson & Co., Montreal; Edwin F. Peet, Arthur R. Robinson, Wertheim & Co., New York; G. Corporation of Norfolk, Norfolk, Va. Joseph F. Gatz, McDonald-Moore <£ Co., Detroit; Norman S. Downey, In¬ Austin, J. K. D. Jr., Equitable Securities Corporation, Nashville; James E. Roddy, Scharff & New Orleans; Mrs. Lewis F. Lyne, Dallas; Julien Collins, Julien Collins & Co., Chicago; F. Lyne, Mercantile National Bank, Dallas; Mrs. Joseph T. Johnson, Milwaukee Anderson, Inc., Lewis ... Sholley, Boston; Boston J. Sinclair Armstrong, Securities <ft Exchange Commission, Wash¬ ington, D. C.; Keith Funston, New York Stock Exchange, New York; George Davis, Davis, Skaggs & Co., San Francisco; Murray Hanson, Investment Bankers Association, Washington, D. C, Burns Powell Rauscher, Jr., Rauscher, Pierce & Co., Inc., Dallas; Pierce, Rauscher Pierce & Co., Inc., Dallas; Taylor B. Almon, Rauscher, Pierce & Co., Inc., Dallas J. Ernest Savard, Savard & Hart, Montreal; Cate, Jr., Keystone Company of Boston S. Bros. & Denton, Inc. Davis, Investment Mr. & Mrs. Henry F. Whitney Bradley, Eaton & Howard, Inc., Boston; Frank S. Cutter, Plummer & Bennett, New York City; Howard Bennett, Finney, Bear, Stearns Fulton & Co., Reid & New York; Jack Co., Cleveland R. Staples, Volume 184 Number 5594... The Commercial and Financial Chronicle John A. Oil Latshaw, E. F. Hutton & Company, Kansas City, Mo.; Thomas Larkin, Goodbody & Co., New York; Jack Reno, Carl M. Loeb, Rhoades & Co., New York & Natural Richard Goodwin, W. Gas Morey, Securities A C. Committee—William Edwards C. Zahner & Co., Kansas Mr. & Mrs. Arthur P. Quinn, Quinn & Co., Albuquerque, N. Mex.; Laurence H. Lyons, Allen & Company, New York City; Edward Burns Jackson, Jr., First Southwest .tSRobert M.oS Louis! ,sn William & First National City Bank of New York; Victor H. Zahner, City, Mo. PICTORIAL 11 II, F. Eberstadt Company, Co., & Richmond, Va.; Co., Inc. Municipal Dallas, New York Securities Andrew J. Raymond, Nesbitt, Thomson & Co., New York; Mr. & Mrs. Irving Campbell, Bell, Gouinlock & Company, Ltd., Toronto; Nigel Gunn, Bell Gouinlock <ft Company, Ltd., Toronto Committee—William M. Adams, Braun, Bosworth & Co. Detroit, &hoorbatsE Co., Boston; Stodmon Buttrick, c<>| 0Uyer y T.Kembie, Estabrook & Boston; James J. Buford Lee, W. Governmental Securities Committee—Emil J. Pottberg, Jr., Scott, E. Scott Hutton & & Strmgfellow, Co., New York The First Boston Corporation, q. George, Tr0,ter> Harriman Ripley & j,„g.r A c„., New york. Edward Co., Inc., Chicago; Malcolm F. Roberts, Garrett-Bromfield & Co., Denver New York, Chairman Chairman PICTORIAL 12 The Commercial and Financial Chronicle Jentry S. Holmes, International Finance Corp., Washington, D. C.; Mrs. Robert V. Philadelphia; Mrs. Joseph T. Johnson, Milwaukee; Mrs. Jentry S. Holmes; Mr. & Mrs. ^ Schmidt, Schmidt, Poole, Roberts & Parke, Philadelphia Mr. & Mrs. Frank Mr. & Mrs. Alfred Mr. & De Newburger, Rauch, Newburger Kidder, Peabody & & Co., Co., Philadelphia; Mr. & Mrs. Wehrhein, Walter A. Mr. * Meredith.Boycc, Mercantile Safe Deposit & Trust Co. Baltimore; Mr. & Mrs. Edward First National Bank, Miami; Henry, L, Valentine,. Davenport & Co., Richmond, Va.; 4 Mrs. Owen Daly II, Baltimore r "• 'v ' < Hugh Bullock, Calvin Bullock, Ltd., New York John Paul Philadelphia Gordon Crouter, De Haven & Townsend, Crouter & Bodine, Philadelphia; Walter Haven, De Haven & Townsend, Crouter & Bodine, Philadelphia; Albert W. Whittlesey, First Pennsylvania Banking & Trust Company, Philadelphia T. A. A. Kruse, Prescott, Shepard & Co., Cleveland; Mr. & Mrs. Just, Television Shares Management Corporation, Chicago Robert L. Garner, International Finance Corporation, Washington, D. C.; George B. Kneass, Treasury Department, Washington, D. C.; George L. Martin, International Bank, New York; Lester H. Empey, American Trust Company, San Francisco iTfc Mr. & Mrs. Walter A. Schmidt, Schmidt, Poole, Roberts & Parke, Philadelphia; Ewing T. Boles, The Ohio Company, Columbus Mr. & Mrs. Thursday, December 13, 1956 & Mrsi'C. Swenson, * Mrs. ... Federal Legislation Committee—Franklin T. McClintock, New York, Chairman : Harriman ^ : • Ripley & i Co., Inc., Volume 1S4 W. Neal & Co., Mrs. New Mr. & J. Co., Murrey Atkins, Hartford, Conn.; PICTORIAL 13 The Commercial and Financial Chronicle L. Harris, New York; Chester Morris, Baxter & ComYork; Henry L. Harris, Goldman, Sachs & Co., N. Y. Mrs. & Putnam ... Fulkerson, Jr., Bankers Trust Company, New York; Francis P. Gallagher, Kidder, New York; Robert C. Johnson, Kidder, Peabody & Co., New York; Janes E. Sharff & Jones, Inc., New Orleans Henry pany, Number 5594 Mr. & Peabody Roddy, Ralph A. Curran, Salomon Bros. & Hutzler, West Palm Beach; F. Newell Childs, C. F. Childs & Company, Chicago; Mrs. Ralph A. Curran; J. Paul Wocllomcs, Wulff, Hansen & Co., San Francisco; Mr. & Mrs. Walter C. Gorey, Walter C. Gcrey Co., San Francisco Mrs. Erwin W. Boehmler, Investment Bankers John H. Rauscher, Jr., Rauscher Pierce & Co., Inc., Dallas; Keith Funston, New York Stock Exchange, New York Association, Washington, D. C. R. S. Dickson & Co., Inc. Charlotte, N. C.; Albert D. Putnam, R. S. Abernethy, Interstate Securities Corporation, Charlotte, N. C. Open Meeting of Investment Companies Committee—William A. Parker, The Parker Corporation, Boston, Chairman «m, m i m i • , j% mz A ft' Committee Meeting, Group Chairmen's Committee—William D. Kerr, Bacon, Whipple & Co., Chicago, Chairman PICTORIAL 14 The Commercial and Financial Chronicle THE ATOM PUTTING TO WORK: A Prior to 1940 Scientists Laboratory structure of the atom the General Electric at discovering facts about the were that contributed to the sepa¬ ration of U-235 from natural uranium in 1950 General Electric veloping an atomic was power 1940. assigned the job of de¬ plant at the Knolls Lab¬ 1942-45 General Electric domestic orders, General Elec¬ tric—through the International General Electric Com¬ pany—announced sales of for Spain and a an atomic. research power reactor reactor for Latin America. Since the end of World War II, General giant Hanford Atomic Works in Washington State, producing plutonium for the nation's defense effort. that made the first 1951 Work sion system on atom the 1956 more a nuclear propul¬ begun by General Electric Evendale, Ohio, and is continu¬ was recently, at Idaho Falls, Idaho. Construction began on the multimillion- dollar General Electric Vallecitos Atomic in California. It is dedicated uses project bombs for the United States. development of for aircraft ing here and, to 1946 strumentation for the vast Manhattan District SeawolI 1956 In addition developed and produced Electric has been for the government at launched in 1955 for final outfitting. jmpmp)**! complex power-supply apparatus and control and in¬ oratory for the U.S. Navy submarine Seawolf. The was Thursday, December 13, 1956 Progress Report from General Electric r Research ... of atomic energy, to Laboratory developing civilian and will be completed in 1957. 1955 to After operating, for the government, the Congress opened atomic development private industry, General Electric established a department that is designing, developing, manufac¬ turing and marketing atomic reactors and equipment. 1957 A G-E experimental reactor will about 5,000 kw. of atomic power to area. Steam from the Gas and reactor help bring the San Francisco will be furnished Pacific Electric, which will generate the power. Volume 184 Number 5594 ... The Commercial and Financial Chronicle PICTORIAL 15 What General Electric is doing to help bring America atomic- New atomic laboratory will 1946 General Electric, under contract to the A.E.C., has in operated the Knolls Atomic Power Laboratory Schenectady, N. Y., since 1946, where research into applications of atomic energy ower largest all-nuclear power Two years ago, of the Congress opened the develop¬ atom to have ment, made working with the significant govern¬ toward progress practical atomic electricity while continuing needed defense work for At General Electric, our country. the and an unusually high number of engineers — about 2,250 thousands of other skilled Atomic ities to put the first electricity G. E. built for the came commercially distributed from the prototype reactor is was awarded to Canadian G. E. we scientists them — power Edison's Station Dresden plant—Commonwealth Chicago. This Entirely solving problems new to never technologies we this experimental reactor will help the San Francisco Steam from the area. are are a plant before attacked. being developed taking which will then generate the Another is headquarters of General Electric's civilian atomic business — plant and equipment for engi¬ neering, manufacturing and marketing research and systems test every step we and other nuclear components. risk are help solve the technical problems, General taking a long-term risk by investing multimillion-dollar atomic laboratory near Pleasanton, California. At this laboratory, an experimental boiling-water reactor will be in use in developing atomic being made with the realization that atomic energy field neer financial risk profitable return the 1960 The Chicago area for many years to come. And the ment. seller, by risking substantial now what has to or nuclear power plant, being built by G. E. for Com¬ monwealth Edison and the Nuclear Power Group, Inc. not develop¬ manufacturer, pioneers amounts be done with future business power a Today, buyer of atomic equipment knows he is to of money to open a new opportunities for do industry many com- we see it, progress toward practical atomic reactors for power plants vate businesses risk taking. The are as America's pri¬ encouraged to continue such support of an informed public GENERAL — and its representatives in government—is needed now more have nish a than ever before, so that the nation will competitive atomic industry that plentiful, economical power to all. is scheduled to get 180,000 electricity from the world's largest all- pio¬ a taking with little prospect of T^vgress Is Our Most Important Product kw. of atomic is calling for ingenuity, boldness and electricity will continue only a taking 'panies, large and small. provide for safety. Electric is power, fuel elements, control reactors, Pioneer fields demand As in power. major investment in atomic facilities being made in San Jose, California. Here will be the Providing the "tools" To reactor will be furnished the Pacific Gas & Electric Com¬ buying the ultimate in atomic designing and building such and tried out, and know oper¬ by the end of 1960. calls for area. These and other commitments 180,000-kw. plant is scheduled for regular The task of big station in the Chicago bring about 5,000 kw. of atomic electricity to electric-power uses. near the and facil¬ of the company's major proj¬ largest all-nuclear ation plus also have made atom to work in one our re¬ tfie design and construction of the world's Seawolf. The contract for Canada's first atomic station vital part of manpower production and other civilian Currently, of as Next year, to people. But since the Energy Act of 1954, major investments in both ects a company's atomic operation. This work quires such pany, major contributions the defense effort are, of course, America's world's plant to operate in 1960 private industry. In that time, America's businesses, 1955 year; is being conducted. ment atomic next open ELECTRIC can fur¬ PICTORIAL The Commercial and Financial Chronicle 16 Starting Max & of Thursday, December 13, 1956 out on a sailfishing trip on the yacht "Poseidon II" owned by Maurice Meyer, Jr., Hirsch Co., New York; Mr. & Mrs. Maurice Meyer, Jr.; Craig Severance, F. Eberstadt & Co., New York; Hal Murphy, Commercial & Financial Chronicle, New York; seated, Edward Burns II, F. Eberstadt & Co., Inc., New York Warren H. H. James Crowell, Weedon & Co., Los Angeles; Robert Horton, Penington, Colket & Co., Philadelphia; Kurt J. Huttlinger, F. P. Ristine & Co., Philadelphia; W. W. Veazie, Mabon & Co., New York; Joseph C. Nugent, Mabon & Co., New York Russell, Van Alstyne, Noel <ft Co. New York; Edward Burns, II, F. Eberstadt & Co., Inc., York; Mr. & Mrs. Fuller A. Harrington, Harrington & Co., Jackson, Miss.; William H. McElnea, Jr., Van Alstyne, Noel & Co., New York Theodore Salim Arthur A. New V. Crowell, The Marshall Company, Milwaukee; Bert H. Horning, Stifel, Nicolaus and Company, Incorporated, St. Louis O'Keef, L. Thomas Low, Bear, Stearns & Co., New York; William D. Kerr, Bacon, Whipple & Co., Chicago; Bear, Stearns & Co., New York; John T. Knox, Federal Land Banks, New York; Continental Illinois National Bank & Trust Company, Chicago; D. J. Harris, Bache & Co., Chicago; Paul L. Mullaney, Mullaney, Wells & Co., Chicago Lewis, W. Evans, A. Hewitt, Jones, Kreeger & Hewitt, Washington, D. C.; Daniel O'Day, Northern Trust Company Chicago, New York; Robert M. Goodwin, First National City Bank, New York; Robert B. Blyth, National City Bank, Cleveland; Robert Craft, The Chase Bank, New York; Charles F. Matton, Wachovia Bank & Trust Company, Winstcn Salem, N. C. William G. Parker, Lord, Abbett & Co., Chicago; Robert S. Driscoll, Lord, Abbett <£ Co., New York City; Mr. & Mrs. J. Paul Woollomes, Vr'ul f, Hansen & Co., San Francisco P. New Arthur John Snarpe, Mercantile Trust Company, St. Louis; R. George Le Vind, Blyth & Co., Inc.; York; E. J. Altgelt, Jr., Harris Trust & Savings Bank, New York; Charles F. Matton, Wachovia Bank & Trust Company, Winston-Salem, N. C. M. Haussermann, Vance, Sanders & Co., Boston; Thomas B. Gannett, Hornblower & Weeks, Mrs. Harold C. Patterson, Washington, D. C.; Mr. & Mrs. J. Sinclair Armstrong, Securities Upham, 3rd, Securities & Exchange Com¬ mission, Washington, D. C.; Harold C. Patterson, Securities & Exchange Commission, Washington, D. C. Boston; & Exchange Commission, Washington, D. C.; F. Vaughan PICTORIAL 17 Number 5594... The Commercial and Financial Chronicle Volume 184 Henry J. Blackford, Jr., A. M. Law & Co., Spartanburg, S. C.; Mr. & Mrs. Harry Beecroft, •ri. Cole <ft Co., Topeka, Kane.; Laurence Lyons, Allen & Company, New York Mr. & Boston; Mrs. Calvin Arthur W. Clayton, C. Burns, Eastman Clayton Securities Corporation Dillon, Union Securities & Co. Mr. & Mrs. William Beecroft, Public Utility Committer—Harold G. Boggs, Fidelity Trust Company, Pittsburgh; Guy W. Lewis, Peoples First National Bank, Pittsburgh v; ■ Mrs. Willard G. De Groot, Bateman, Eichler & Co., Los Angeles; Leslie Douglas, Folger, Fleming-W. B. Hibbs & Co., Washington, D. C.; Mrs. Bayard Dominick, New T. Mclntyre II, Dominick & Dominick, New York City; Avery Rockefeller, Dominick & Dominick, New York State York; William Jr., Legislation Committee—Gilbert S, Edward B. Association Dillon, Union Securities & Co., New York, Mr* & Mrs- Jack F* Perkins» Perkins & Co., Inc., Dallas; Mr. & Mrs. Kenneth D. Aws, Irving J. Rice & Co., Inc., St. Paul ( ."/I'-'% ' VMM/*/ & Eastman Chairman '/A AB&jf!!'/? v, Nolan, Young, m\ '% Mr. H. - Burr, of City; n I National Association of Investment Companies, New Exchange Firms, New York; William J. Simonson, Stock Robert L. York; R. Michael Charters, J. Barth & Co., New York Cullom Davis, Thayer, Lehman Brothers, New York City; Shelby Shelby Cullom Davis & Co., New York City Osgood, Blunt Ellis A Simmons, Chicago, Chairman PICTORIAL 18 Gordon Bent, Mrs. Bacon, C. The Commercial and Financial Chronicle Whipple Meredith & Co., Chicago; H. H. Sherburne, Bacon, Whipple & Co., New York; Boyce, Baltimore; John H. Brooks, Putnam & Co., Hartford, Conn. Mr. & Mrs. Cornelius Bank, Des Moines, ... Thursday, December 13, 1956 Shields, Shields & Company, New York; Frank R. Warden, Central National Iowa; Clarence F. Blewer, Blewer, Glynn & Co., St. Louis; John Quinn 4 Mr. & Mrs. Lawrence C. San Ames, Irving Lundborg & Co., £)on q# Miehls, William Francisco A. G. Becker Blair & & Co., Yo^Edw^Id AraUhlerMRDSn,D^?onCA C^^.c^nIw Vorh^Win^6'u He,rrm?.n & C°" New York, tdward Lfhler, R. S. Dickson & Co., Inc., New York; William M. Cahn, Jr., Henry Herrman A. & Co., Finance New York; Lawrence Committee—Lee H. B. Illoway, Ostrander, Pemngton, William Blair Colket 4 Co., <ft Co., Philadelphia Chicago, Chairman Co., Chicago; Elmer G. Incorporated, Chicago Ernest Dorbritz, Kansas City, Hassman, Moore, Mo.; Mr. Leonard Lee H. A. & & Mrs. A. Beaton, Distributors Chicago Group, Lynch, Ostrander, G. Ronald Becker & Pittsburgh; Paulen E. Burke, Burke William Blair & Co., Chicago; Andrew Co., Incorporated, Chicago Stock Exchange Relations Committee—Charles L. Antlrew Incorporated, & M. MacDo, Baird Ba,rd> Morse, Htmphill, Noyes & Co., New York, Chairman Number 5594 Volume 184 ... Mrs. Buettner, Miami; Eaton Taylor, Dean Witter A Co., San Fran¬ cisco; Mr. & Mrs. H. Wilson Arnold, Arnold A Crane, New Orleans A. Stewart Dunn, C. J. PICTORIAL 19 The Commercial and Financial Chronicle John S. Linen, Chase mcyer, Manhattan Bank, New York; Edward GlassBlyth A Co., Inc., New York A W. Joseph Sener, Jackson, Ellis John C. First Godshall, Clement Dallas; Legg A Southwest Baltimore; Company, A. Evans A Co., Inc., Dean P. Guerin, Thors, A Co.. John C. Hecht, Dempsey-Tegeler A Co., Los Angeles; Mr. & McManus A Walker, New York Graham Walker, Atlanta; Wm. B. Eppler, Epp/er, Gue-tn Eppler, Guerin A Turner, Evans W. C. Dallas Company, Inc.. & Turner, Dallas; H. James Wheeler, Clement A. Orlando, Fla. Merrill, Turben A Co., Cleveland; Mrs. Bruce B. Ranney, Cleveland; J. Emerson Kuhn, Loeb A Co., New York; Mary Hudson, Cleveland; Thomas A. Melody, Merrill, Turben A Co., Cleveland Turben, Claude A Co., New York; Frank T. Co. New York; Pat Morris, Northern Jim Clarke, American National Bank Trust Co., Chicago Devine Kennedy, C. J. Devine A Trust Company, Chicago; Jchn Bed Robert Fisher, Blyth A Co. Inc., New York; H. Lawrence Bogert, Jr., Eastman Dillon, Union Securities A Co., New York L. & Mrs. Thomas Hayes, L. Ray, Mercantile Trust Company St. Louis, Milton J. American National Bank A Trust Company, Chicago Ahbe, Distributors Group, Incorporated New York City; Mr. & Mrs. William R. Hough, Hough,' St. Petersburg, Fla.; 0. Jack Talbot, Northwestern National Bank of Minneapolis; Robert M. Goodwin, First National City Bank, New York PICTORIAL 20 The Commercial and Financial Chronicle,.. Thursday, December 13, 1950 / Mrs. W. Neal Atlanta; Glenn Fulkerson, New York; Mr. & Mrs. Robert C. Mathews, Jr., Trust Company of Georgia, Truxton B. Pratt, Jr., Bankers Trust Company, New York; Ralph J. Powelson, Leedy, Wheeler & Alleman, Orlando, Fla. William Gus G. man A. Beinhorn, Jr., Russ & Company San Antonio; William Hobbs, Jr., Russ & Company, San Antonio; F. Newell Childs, Childs & Co., Chicago; Philip F. Koenig, C. F. Childs & Co., Chicago C. F. Goldman, Sachs A Co., St. Louis; Hunter Breckenridge, McCourtney, Brechenridge A Co. St. Louis; Elvin K. Pop¬ per, /. M. Simon & Co., St. Louis; Joseph Ludin, Dillon, Read A Co., New York City J. Hickey, Htckey & Co* Inc., Chicago; Mr. & Mrs. Harold G. Laun, F. S. Moseley & Co., Chicago; Mr. & Mrs. Thomas J. Herbert, Hugh W. Long A Co., Inc., Elizabeth, N. J.; Hugh E, Paine, Jr., Abbott, Proctor 4 Paino, New York E. Anderson, Carolina Securities Corporation, Raleigh, N. C.; Abernathy, Interstate Securities Corporation, Charlotte, N. C.; D. Croom, First Securities Corporation, Durham, N. C. William Halliburton, Equitable Securities Corporation, Nashville; Her¬ B. Joseph, Joseph, Mellen & Miller, Cleveland; Ralph Elam, Sweney Cartwright & Co., Columbus Walter J. Creely, Matthew R. S. H. Grady Black, The Robinson-Humphrey Company, Inc., Atlanta; Scott, Scott & Stringfellow, Richmond; Jack M. Bass, Jr., M. Bass A Co., Nashville; Beverly W. Landstreet III, Clark, Landstreet, A Kirkpatrick Inc., Nashville Buford Jack Mr. & Mrs. John E. National Bank, Fricke, Bache & Co., Philadelphia; Mr. & Mrs. Robert V. Wehrheim, Philadelphia Philadelphia; Harold J. Schulter, First National Bank of Chicago New York; Chester A. Atwood, L. F. Rothschild & Co., New York City Mr. & Mrs. Guy Redman, A. G. Edwards & Sons, St. Louis; Mr. & Mrs. J. Victor Loewi, Loewi & Co* Incorporated, Milwaukee Volume 184 Mr. & Mrs. Number 5594 Harry Beecroft, J. ... PICTORIAL 21 The Commercial and Financial Chronicle Beecroft, Cole A Co., Topeka, Kans.; Mr. A. Hogle A Co., Salt Lake City, Utah & Mrs. Herbert Mr. Dewitz, & Mr. Mrs. & Rudolf Mrs. W. Smutny, Salomon Bros. A Hutzler, New York; Wayne, Glover, California Bank, Los Angeles Bert & Mrs. Bayard Dominick, Dominick <6 Horning, Stifel, Nicolaus A Company, Jacobs A Co., St. Louis; Charles Dominick, New York Co.. Da:sy Initiates: Paris Scott Russell, Glore, For pan A Co., New Ycrk; David John C. Hagan, Jr., Mason-Hagan, Inc., Richmond, Va.; Chester A Co., New York; Sidney J. Mohr, Jr., Thornton Mohr A Farish, Wagenseller A Durst Mrs. Frank & Mrs. Sidney Inc., Los Angeles C. John Carr, Blake, H. Incorporated Incorporated, St. Louis; Mr. & Mrs. Mel Taylor, Semple, S. Werner, Shearson, Hammill A Co., Chicago Chicago; Rothschild & Mr. & Mrs. Philip R. Neuhaus, Underwood, Neuhaus A Co., Houston J. Harris, Bache <ft A. Atwood, L. F. Montgomery, Ala.; W Guy Redman, A. G. Edwards A Sons, St. Louis; Edward S. Amazeeu, Coffin A Burr, Incorporated, Boston; John W. Dayton, Jr., Clark, Dodge A Co., New York; Matthew J. Hickey, III, Hie key A Co., inc., Chicago; John H. Carlson, Carl M. Loeb, Rhoades & Co., New York; William S» Hughes, Jim Mr. Mr. Mr. John Theodore C. Sheaffer, A Co., M. Byllesby and Chicago Company, Philadelphia New York; Bertram M. Wilde, Janney, Dulles A Co.. Philadel¬ Janney, Dulles A Co., Philadelphia; Albert C. Purkiss, Co., Inc., New York S. Linen. Chase Manhattan Bank, phia; Nuveen Walston A i PICTORIAL James C. Lear, 22 The Commercial and Financial Chronicle Reed, Co., A Lear Pittsburgh, Pa.; George G. W'"'! Alfred J. A Bioren '' H. Co., Philadelphia Howard, Harris, Upham & Co., New York; G. S. Kemp, Abbott, Proctor A Paine, Richmond, Va.; Howard B. Dean, Harris, Upham A Co., New York; Ben S. Willis, Alex. Brown A Sons. Winston-Salem, N. C. / ''' ' Ross, Dick New York; Thursday, December 13, 1956 W. Elkins, Jr., Elhins Morris, Stokes A Co., Philadelphia; John F. Bunn, Jr., ... Merle-Smith New York; David H. Callaway, First of Michigan Corporation, A. Dunn, C. J. Devine <ft Co., New York; Sidney L. Parry, De Coppet A Doremus, New York Lee Stewart H. wood, Ostrander, William Blair A Co., Chicago; Milton R. Under¬ Underwood, Neuhaus A Co., Houston, Tex.; E. Jansen Hunt, White, Weld A Co., New York isaiiPiiiSBiiiii ■<,: Leroy A. Wilbur, Stein Marshall Jack Bros. Sanford, Reno, New York, Jack Aheam A Ft. Boyce, Dr. & Mrs. Kurt Fla. A J. Huttlinger, F. P. Ristine A Co., Philadelphia; James W. Wclff, Zuckerman, Smith A York; Charles J. Fleming, Hanrahan A Co., Worcester, Mass.; Elvin K. Popper, I. M. Simon A Co., St. Louis Co. New t Ca"a J?CW N at tonal J»ck LStafford. Lee */Y?rk; Bank of Rockland-Atlas Anderson Baltimore; Lauderdale, -M *r iiiTMil fc:' , Strudwick, Richmond, Boston; Va. Higginson Corporation, George Anderson, H. S. Parker, Kay, Richards A Co., Pittsburgh, Pa.; Buechler, £. F. Hutton A Company, New York Richard Volume 184 " ' '/ "■>* i 'Si; ''' ■ PICTORIAL 23 Number 5594... The Commercial and Financial Chronicle ' ' i t" ' K i Si '< wmmrnrn Joseph Ludin, Dillon, Read & Co., New York; Mr. Lynn, Wertheim & Co., New York Walter B. Levering, Carlisle & Jacquelin, New York; Mrs. David B. McElroy, New York; Timothy Clark, H. C. Wainwright & Co., Boston; David B. McElroy, J. P. Morgan & Co. Incorporated, N. Y. Mr. & Mrs. Kurt H. Grunebaum, New Mr. & Mrs. L. Paul Close, Rambo, Warren Mr. & wealth Mrs. James Trust C. Lear, York Hanseatic New Mr. & Corporation, Kerner Close & W. York & Co., Philadelphia; Allentown, Mr. & Mrs. John M. Pokorny, York; Belmont Towbin, C. E. UnterMeyer, Jr., Hirsch & Co. New York Lewis, A. G. Becker & Co. Incorporated, New Syndicate Committee—E. Jan sen Hunt, White, Weld & Co., New York, Chairman Pa. Jr., Common¬ Ed Muir, Muir Investment Corp., San Antonio, Tex. Reed, Lear & Co., Pittsburgh; Mr. & Mrs. A. F. Heineman, Company, Pittsburgh; Mr. & Mrs. Mrs. Milton berg Towbin Co., New York City; Mr. & Mrs. Maurice York Mr. & Mrs. W. George Carroll Mead, Mead, Miller <fi Co. Baltimore, Md.; R. Torrey, McCormick & Co., Chicago The Commercial and Financial Chronicle PICTORIAL 24 ■ffvl WW/Ma t >' Thursday, December 13, 1958 Jap WBMP MM v ... ii'Jj * L:'- n Xr'dSiMi H Robert Warren, Blair A Co. Incorporated, New York; Wildes W. Veazie, Mabon A Co., New York; Herman Joseph, Joseph Mellen A Miller, Cleveland; Leon Lees, 7ra Haupt A Co., New York George L. Martin, International Bank, New York; Frank Newburger, Newburger A Co., Philadelphia; Thomas C. Cafone, W. £. Hutton A Co., New York; James J. Lee, W. E. Hutton A Co., New York mmm Arthur C. Allyn, A. C. Allyn A Company, Incorporated, Chicago; Percy Stewart, Kuhn, Loeb A Co., George J. Gillies, A. C. Allyn A Company, Incorporated, New York City; Mrs. Percy Stewart, New York City Boesel, Jr., Kuhn, Loeb A Co., New York; Jamieson, Glare, Forgan A Co. Chicago Robert W. Ewing, A. E. Masten A Co.. James P. Wheeling, W. Va.: E. W. Hare, National Securities A Research Corporation, New York; A. H. Aldinger, Fordon, Aldinger A Co., Detroit; Nathan K. Parker, Kay, Richards A Co., Pittsburgh ■ Joseph L. Ryons, Lester, Ryons A Co., Los Angeles; Frank E. Voysey, Kidder, Peabody A Co., Chicago; Andrew K. Marckwald, Discount Corporation, New York New York City; Richard ; Mr. & Mrs. Arthur H. A. J. S. Loomis, Ed Illinois Haussermann, Vance, Sanders A Comvany- Boston; McCandless, Vance, Sanders A Company, Boston Company, Chicago; C. C. Mr. & Mrs. John Brown, Laurence M. Marks A Co., New York; Arthur Curtis, A. G. Becker A Co., Chicago Costigan, Edward D. Jones A Co., St. Louis; Incorporated, Volume 184 F. D. New Number 5594 ... The Commercial and Financial Chronicle Farrell, City National Bank & Trust Company, City; D. Dean McCormick, McCormick & York C. Daniel Mrs. C. J. Devine & Kansas City, Mo.; Co., Chicago; Mr. Co., New York Mrs. Donald C. Patterson, Mrs. Stewart A. Dunn, M. Harold A. & Kennedy, Andrew PICTORIAL 25 Lord, Abbett & Co., New York City; Mrs. Albert R. Hughes, New York City; Baird, Chicago; Ben Tobin, Hollywood Beach Hotel; Mrs. Alden H. Little; Kelton Walker & Co., St. Louis; Alden H. Little, Investment Bankers Association of America, Washington, D. C. St. Louis Room The Milwaukee Company, Milwaukee; Joseph T. Johnson, The Milwaukee Company, Ewing T. Boles, The Ohio Company, Columbus; Milton G. Hulme, Glover E. F. & MacGregor, Pittsburgh Connely, American Securities Corporation, New York; Mrs. Harold G. Laun, Chicago; Miss McEvoy, Detroit; Ralph W. Simonds, Baker, Simonds <fi Co., Detroit; John S. Linen, Manhattan Bank, New York; Harold G. Laun, F. S. Moseley & Co., Chicago; Mr. & Mrs. William Pope, Evanston, 111. Bernadine E. White, G. H. Mr. & Mrs. Albert M. Schmelzle, Fusz-Schmelzle & Co., St. Louis; Mr. & Mrs. Hunter Breckenridge, McCourtney-Breckenridge & Co., St. Louis; Mrs. Walter J. Creely, St. Louis; Mrs. Arthur A. Christophel, St. Louis; George A. Newton, G. H, Walker & Co., St. Louis Prank", Milwaukee; Chase Harry W. Mr. Mrs. & Newhard, Newhard, Cook & Co., St. Louis; Henry Earle, First of Michigan Corporation, Detroit; Mr. & Mrs. David H. Callaway, First of Michigan Corporation, New York; Frank J. Brophy, R. S. Dickson & Co., Inc., New York M. M. Company, Hatcher, First Dallas; Mr. & National Bank, Mrs. Lewis F. Dallas; Ted R. Alexander, Lyne, Mercantile National Texas Bank Bank, Dallas & Trust The Commercial and Financial Chronicle PICTORIAL 26 ... Thursday, December 13, 1956 I WM n* \ , L I; d' I H iiiifl yip \i J r mmm MM i m o Wmmmm mmmm I Bk| I ilillfili 1 f pi P jpjft m$ mI Ipf ' • iPP W' 1 ||3 K|| mmlip ■ .. %, I j Andrew Thomson J. & Raymond, Nesbitt Thomson & Co., New Yrrk; Mr. & Mrs. D. K. Baldw'n, Nesbitt, Co., Montreal; Arnold B. Massey, Spence & Co., Toronto; W. T. K. Collier, Collier, & Quinlan, Montreal; Russell D. Bell, Greenshields & Co., Montreal Allan Weintraub, Bear, Stearns & Co., New York; A. Peter Knoop, Auchincloss. Parker & Redpath, York; Mr. & Mrs. Peter Knothe, Halls & Stieglitz, New York City; Frank McCormack, H. Hentz & Co., New York; John Washerman, Asiel & Co., New York New Norris o Mrs. Walter L. Morgan, Philadelphia; Mrs. Howard Butcher III, Philadelphia; Mrs. Frank Newburger, Philadelphia (standing); Walter L. Morgan, Wellington Fund, Philadelphia; Mrs. George B. Kneass, Washington, D. C. Mr. & Mrs. Daniel Northern Mrs. Robert New York; O'Day, Northern Trust Company of Chicago, New York; Mr. & Mrs. Pat Morris, Company of Chicago, Chicago; Mrs. Orlando S. Brewer, New York; Don Farrell, City National Bank, Kansas City, Mo. Trust V. Wchrheim, Philadelphia; Mr. & Mrs. Sheldon R. Green, Chase Manhattan Francis Bowman, Chase Manhattan Bank, New York; Mrs. Robert Craft, New Mrs. Walter W. Craigie, Richmond, Va. Bank, York; Fred W. Alfred J. Fairman, Jr., Bache & Co., Chicago; William J. Lawlor, Jr., Hornblower & Weeks, Chicago; Stalker, Kidder, Peabody & Co., New York; George T. Flynn, Hornblower & Weeks New York City; Fred Hudson, Ball, Burge & Kraus, Cleveland Henry W. Putnam, De Coppet & Doremus, New York; Mr. & Mrs. Toby Morgan, The Hanover Bank, New York; Gus Alexisson, Granbery, Marache & Co., New York; Sydney L. Parry, De Coppet & Doremus, New York City Mr. & Mrs. Andrew Sage, Lehman Brothers, New York; John P. Labouisse, Howard, Weil, Labouisse, & Co., New Orleans; Francis X. Coleman, Gregory & Sons, New York; Frederick W. Straus, Straus, Blosser & McDowell, Chicago; Donald W. Davis, Dempsey-Tegeler <6 Co., Los Angeles Friedrichs Volume 184 Mr. & Number 5594 .... The Commercial and Financial Chronicle Mrs. berger, curities Jacques P. Ducournau, Ducournau & Kees, New Orleans; Mr. & Mrs. John W. BrandenMoreland, Brandenberger, Johnston & Currie, Houston; H. Frank Burkholder, Equitable Se¬ Corporation, Nashville, Tenn.; Mr. & Mrs. Edward D. Muir, Muir Investment Corp., San Antonio; H. Wilson Arnold, Arnold & Crane, New Orleans R. W. Ewing, A. E. Masten & Co., Wheeling, W. Va.; Mrs. Fred T. Seving, Philadelphia; Mrs. Butcher, III, Philadelphia; Mrs. Charles McK. Lynch, Pittsburgh; Fred T. Seving, Butcher Sherrerd, Philadelphia; Howard Butcher, III, Butcher & Sherred, Philadelphia; Charles McK. Lynch, Jr., Moore, Leonard & Lynch, Pittsburgh; Thomas Lynch, III, Moore, Leonard & Lynch, Pittsburgh Howard & Mr. Asiel & & Mrs. George P. Healy, Adamex Securities Corporation, New York; Samuel H. Rosenberg, Co., New York; Mr. & Mrs. Milton F. Lewis, A. G. Becker & Co., Incorporated, New York City; Edward D. Jones, Edward D. Jones & Co., St. Louis Mr. & Mrs. Thomas M. Johnson, Johnson, Lane, Space & Co., Inc., Savannah; Wallace McCurdy, Thayer, Baker & Co., Philadelphia; Hudson B. Lemkau, Morgan Stanley & Co., New York; Karl P. Herzer, Winslow, Cohu & Stetson New York; John S. Loomis, Illinois Company, Chicago PICTORIAL 27 Robert H. O'Keef, The Marshall Company, Milwaukee; W. S. Hildreth, Peoples National Bank, Charlottesville, Va.; Eugene H. Cassell, C. F. Cassell & Co., Charlottesville, Va.; John L. Blake, Eaton & Howard, Inc., Boston; Mrs. Eugene Cassell, Charlottesville; Edward Amazeen, Coffin <& Burr, Incorporated, Boston Allen New J. Nix, Riter & Co., New York City; Gerald B. West, Stone & Webster Securities Corporation, City; Henry L. Valentine, Davenport & Co., Richmond, Va.; Milton A. Manlev, Manley, Detroit; Craig Severance, F. Eberstadt & Co. Inc., New York City; M. P. Chamberlain, York Bennett <£ Co. Chemical Corn George Louis; Mr. & Trust M. York City Gregory, William H. Sons, Mrs. Exchange Bank, New Gregory & Sons, New York; Jerome F. Tegeler, Dempsey-Tegeler Gregory 3rd, Gregory & Sons, New York; William H. Gregory, Jr., New York; Frederick Straus, Straus, Blosser & McDowell, Chicago Delmont Company, San New K. Pfeffer, First National City Bank of New York; Lester H. Empey, American Francisco; Mrs. Walker W. Stevenson, Jr., New York City; City; J. Bradley Green, Guaranty Trust Company, New York & Co., St. Gregory & Mrs. Richard Rand, York PICTORIAL The Commercial and Financial Chronicle 28 ... Thursday, December 13, 1956 Keep your balance investments in to protect your security Regardless of variable economic winds, or forecasts to "which as way" the speculative markets heading, there are imperative for an are times when it is investor to put a part of his funds in securities that carry high a safety-of-principal factor, and yield an established, fair return after taxes. able to stabilize his in income A field is such Authorities. ernment that com¬ by State and as well as housing Housing authority bonds, issued for sound, ranks constructive capital improvements safety that of U. S. Gov¬ securities. obligation state, county, city Their income the throughout Your United States. inquiry is invited. status is most attractive when tax¬ ation is borne in mind. To a in¬ an $100,000, for example, a tax- pays as high in retainable income as taxable security yielding 10%. The Bond THE joint taxable return exempt bond priced to yield 2J/£% a of investment Local Their second only to investment yield. of those as of market value and afforded and school bonds quality obligations of good vestor with mends itself well for all these pur¬ poses eral free Thuk he is position against the risks of abrupt fluctuations in Municipal Bonds and other tax- Department Chase Manhattan of Chase Manhattan The Bank actively participates in underwriting gen¬ BANK HEAD OFFICE: Member Federal 18 Pine Street, New York 15 Deposit Insurance Corporation
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