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C ESTABLISHED 1839 23 1357 msSmm Ike Commercial In 2 Sections—Section 2 an d / Financial Reg. U. S. Pat. Office Volume 186 Number 5700 New York 7, N. Price Y., December 19, 1957 50 Cents INVESTMENT BANKERS ASSOCIATION Or AMERICA OFFICERS 1957-1958 Vice-President William M. Adams Braun, Bosworth & Co. Incorporated, Detroit President William C. Jackson, Jr. First Southwest Company, Dallas Vice-President Vice-President William D. Kerr W. Carroll Mead Bacon, Whipple & Co., Mead, Miller & Co., Chicago Baltimore Vice-President J. Earle Jar dine, Jr. William JR. Staats & Co., Los Angeles Vice-President William H. Morton W. H. Morton & Co^ Incorporated, New York a Copy 2 The Commercial and Financial Chronicle PICTORIAL ... Thursday, December 19,1957 IBA GOVERNORS wmmmmmm IP Granbery, Marache & New Co., H. Wilson Arnold Alonzo C. Allen Gustave A. Alexisson Blyth & Arnold Inc., CO'f Detroit York City New & Dana F. Baxter Ralph D. Baker Crane, James Orleans Richardson Hayden, Miller & Co. & Curtis H. Bingham Bingham, Los Austin Brown Dean Witter New & Charles A. Co., J. Douglas Casey Capek A. Lee Hlgginson Corporation, Chicago York City C. Allyn Co., Weedon & Los Angeles s Incorporated, Chicago Robert H. Craft Chase Denver Thomas W. Evans Clement A. Evans Continental Clement A. Evans & Coughlin Coughlin and Company, Inc., Warren H. Crowell Crowell, Walter J. and Company, . National Trust Company, Inc., Atlanta Illinois Bank & International Walter Hurry, Cleveland Sons, Winnipeg Walter J. Goldman, Investment Creely Sachs Co., St. Louis Corporation, New York City Charles N. Fisher Singer,. Deane Scribner, & Albert 0. Foster Foster Pittsburgh & Marshall, Seattle Company of Chicago I Charles B. Harkins Blyth & Co., Inc., San Francisco David J. Harris Bache & Co., Chicago Bert H. Horning Dempsey-Tegeler & Co., St. Louis C. Edward Howard Piper, Jaffray & Hopwood, Minneapolis E. Jansen Hunt White, Weld & Co., New & Inc., Angeles York & Volume 186 Number 5700 James Jackson, Jr. White,' Weld & Co., . . The Commercial and Financial Chronicle Francis S. The First King Hornblower & Co., Philadelphia & New Richard H. Martin Pacific Northwest Company, Portland Arthur C. McCall Alester G. Dennis E. Ohio Murphy Company, Columbus Dennis H. Furman The Co., Inc., William C. Porter Dittmar Inc., & San Company, Antonio San Webber, Rudolf Smuiny W. Pressprich & Co., New York City Walter H. Steel Drexel & New York Co., City Mark Sullivan, Jr. Auchincloss, Parker Si Redpath Washington, D.C. I i Bond & Corporation, Indianapolis Milton R. Underwood Underwood, & Co., Joseph Ludin Dillon, Read & Co. Inc., New York City Roderick D. Moore Branch, Cabell & Co., Richmond, Ya. Francisco Frank L. Reissner Share Boston R. Boston Indianapolis Jackson & Curtis, City, Mo. McCarthy First Corporation, C. Albert Pratt Paine, Lucas, Jr. Lucas, Eisen & Waeckerle, Inc., York Kansas Greenville, S. The Mark A. Morgan Stanley & Co. Week3, Chicago Boston William F. Machold Hudson B. Lemkau William J. Lawlor,Jr. Boston Corporation, Boston Drexel . Neuhaus Incorporated, Houston William S. Renchard Chemical Exchange New Corn Bank, York Bertram M. Wilde Janney, Dulles & Battles, Inc., Philadelphia The Commercial and Financial Chronicle ... Thursday, December 19, 1957 PICTORIAL 4 t Pictures Taken at 1957 IBA At Mr. & Mrs. Robert H. Craft, Chase International Corporation, New Yorkj Mr. & Mi*s. Jackson, First Southwest Company, Dallas Investment W. C. New Governors: Alonzo C. Allen, Blyth & Mrs. William S. New Officers: William C. Jackson, Jr., First Southwest Company, Dallas, Pres.; William M. Adams, Broun, Bosworth & Co.f Inc.f Detroit j J. Earle Jardine, Jr., William R* Stoats & Co., Los Angeles; W. Carroll Mead, Mead, Miller & Co., Baltimore; William H. Morton, W. H. Morton & Co., Incorporated, New York, V.-Ps.; William D. Kerr, V.-P., Bacon, Whipple & Co., Chicago not in picture & Co., Inc., Detroit; Dana F. Baxter, Hayden, Miller & Co., Hughes, Wagenseller & Mr. & Mrs. W. Carroll Mead, Mead, Miller & Co., Baltimore Durst, Inc., Los Angeles; Mrs. Ewing mond; Mr. & Mrs. George W. Davis, Davis, Shaggs A Co., San Francisco Mr. & Mrs. Delmont K. Pfeffer, First National City Bank, New York j - Co., Incorporated, Greenville, S. C.; Roderick D. Moore, Branch, Cabell & Company, Rich¬ Dennis E. Murphy, The Ohio Company, Columbus; Albert Pratt, Paine, Webber, Jackson & Frank L. Reissner, Indianapolis Bond & Share Corporation, Indianapolis; Walter H. Curtis, Boston; Steel, Drexel & Co., New York, Joseph Ludin, Dillon, Read & Renchard, Chemical Corn Exchange Bank, New H. Todd, Kuhn, Loeb & Co., New York; H. Lawrence Parker, Morgan Stanley & Co., York; Sumner B. Emerson, Morgan Stanley <ft Co., New York; Rcd>ert B. Baldwin, Morgan Stanley <ft Co., New York T. Boles, Columbus, Ohio; Edward Hopkinson, Jr., Drexel & Co., Philadelphia; Mr. & Schmidt, Poole, Roberts & Parke, Philadelphia; Ewing T. Boles, The Ohio Furman William Mrs. Walter A. Schmidt, Company, Columbus, Ohio; Convention Hollywood Beach Hotel, Florida Cleveland; Curtis H. Bingham, Bingham, Walter & Hurry, Inc., Los Angeles; Charles B. Harkins, Blyth & Co., Inc., San Francisco; C. Edward Howard, Piper, Jaffray & Hopwood, Minneapolis; William J. Lawlor, Jr., Hornblower & Weeks, Chicago; Mark A. Lucas, Jr., Lucas, Eisen & Waeckerle, Inc., Kansas City; William F. Machold, Drexel & Co., Philadelphia; Arthur C. McCall, Alester G. Mr. • I Mr. & Co., New A. Halsey Cook, First National City Bank of New York; Richard K. Buechler, E. F. Hutton & Company, New York Johnson, The Milwaukee Company, Milwaukee; T. Jerrold Bryce, Clark, York; Mr. & Mrs. Julien H. Collins, Julien H. Collins A Co., Chicago Mrs. Joseph T. A New Co., Inc., New York, and William S. York, not in picture Dodge . . Volume 186 Mr. & Mr. Mrs. & Number 5700 Thomas Mrs. Frank A. . . Larkin, . PICTORIAL The Commercial and Financial Chronicle Norman Delmont Goodbody A Co., New York; A Co., New York K. A. Wood, Goodbody K. Pfeffer, First National City Bank, New York; Alan Browne, Bank of America, N. T. A 5. A., San Francisco; John S. Linen, Chase Manhattan Bank, New York; Lester H. Empey, American Trust Company, San Francisco Mrs. York; 5 Smith, Merrill Lynch, Pierce, Fenner A Beane, New York; H. Empey, San Francisco; Mrs. Norman Smith, New Empey, American Trust Company, San Francisco Lester Lester H. " / Blyth A Co., Inc., Seattle; Alonzo C. Allen, Blyth A Co., Inc., Detroit; Charles B. Harkins, Blyth A Co., Inc., San Francisco; Donald N. McDonnell, Blyth A Co., Inc., New York; Edward H. Robinson, Schwabacher A Co., New York; Edward Glassmeyer, Blyth A Co., Inc., New York Charles W. Easter, David W. Hunter, McKelvy A Company, Pittsburgh; Milton R. Reynolds, S. John Krey, Jr., Reynolds Metals Company; Metals Company Reynolds W. Bruce McConnel, Jr., Scribner, Pittsburgh; Frank H. Hunter, McKelvy A Company, Pittsburgh; Charles Deane A Scribner, Pittsburgh; Rollin C. Bush, First National City Bank, Lerchen, Waiting, Lerchen A Co., Detroit; Henry Earle, First of Michigan Corporation, Detroit; E. Morse, Lehman Brothers, New York; Robert L. Thayer, Lehman Brothers, New York; David H. Callaway, First of Michigan Corporation, New York; E. Jansen Hunt, White, Weld A Co., New York; Frank McCormack, H. Hentz A Co., New York W. G. Deane A New York Hayes, American National Bank A J. Company, Walter Singer, N. Fisher, Singer, Chicago; National Bank A James Trust H. Clarke, Company, Trust American Chicago , James Chicago; Francis B. Bowman, Chase National Bank of New Stringfellow, Richmond, Va.; Edward C. Gray, New York Stock Exchange, W. Fay. Hooker A Fay, Sam Jrramcisco;: Eaton Taylor, A. Day, Midwest Stock Exchange, York; Buford Scott, Scott A New York City; Charles Dean Witter A Co., San Francisco Murray Hauison, Investment Bankers Bacon, Whipple A Co., Association of America, Washington, D. C.; Chicago; Allen C. DuBois, Wertheim A Dean Witter A Co., Los William D. Kerr, Co., New York; Ralph E. Phillips, Angeles 6 The Commercial and Financial Chronicle PICTORIAL Retiring President, Robert H. Craft, Chase International Investment Corporation, New York City, presenting Presidential Button to Incoming President, William C. Jackson, Jr., First Southwest Company, Dallas Charles F. Eaton, Jr., Eaton & Howard, Boston; Nelson Loud, F. Co., New York; Craig Severance, F. Eberstadt A Co., Eberstadt A New York; Julian A. Space, Johnson, Lane, Space and Co., Savannah, John & Latshaw, E. P. Hutton A Company, Kansas City, Mo.; Theodore C. Sheaffer, Janney, Dulles Battles, Inc., Philadelphia; Mrs. John Latshaw; H. Frank Burkholder, Equitable Securities Cor¬ poration, Nashville; Mr. & Mrs. Hugh W. Long, Hugh W. Long A Co., Inc., Elizabeth, N. J. Mrs. W. C. Jackson, Jr., * Dallas Ga. ... Thursday, December 19,1957 Mark A. Lucas, Lockett Shelton, Jr., Lucas, Eisen A Waeckerle, Kansas City, Mo.; Republic National Bank, Dallas; Harold E. Waeck¬ Lucas, Eisen & Waeckerle, Kansas City, Mo.; Thomas G. Hilborne, Liberty National Bank A Trust Company, Oklahoma City erle, Mr. & Mrs. Alan K. Browne, Bank of America, N. T. A S. A., San Francisco; Albert E. Schwabacher, Jr., Schwabacher A Co., San Francisco; Mr. & Mrs. Fred D. Stone, Jr., Marine Trust Company, of Western New York, New York City Mr. & Mrs. Walter W. Craigie, F. W. Craigie A Co., Richmond, Va.; William H. Watterson, Fahey, Clark A Co., Cleyeland; Mr. & Mrs. John E. Froehlich, Walter, Woody A Heimerdinger, Cincinnati Robert Stevenson,. Investment ^Bankers Association Mr. G. S. Trimble, Co., Baltimore; Erwin W. Boehmler, Invest¬ ment Bankers Association of America, of America, Washington, D. C.; Martin Washington, D. C. Robert B. Harkness, Dwinnell, Harkness A Hilt, Boston.;^ Anthony E. Tomasic, Thomas A Co., Pittsburgh; Paul L. Mullaney, Mullaney, Wells A Co., Chicago; Mrs. Anthony E. Tomasic; Charles Chicago; Charles L. Bergmann, R. W. Pressprich A Co., New York M. Miller, Mullaney, Wells A Co., Mr. & Mrs. William R. Barrow, Barrow, Leary A Co* Shreveport; Mr. A Mrs. Jack Dillard, Beecroft Cole A Co., Kansas City, Mo.; Mr. A Mrs. Lawrence Bogert, Jr., Eastman Dillon, > Union Securities A Co* New York Volume 186 Number 5700 . . . PICTORIAL The Commercial and Financial Chronicle 7 •'i Mr. & Mrs. James V. Jacques, First Company, Dallas Mr. & Mrs. Robert & Mr. Mr.. A Mrs. & Ward C. Pitfield, W. C. Pitfield A Co., New York; Andrew S. Beaubien, L. G. Beaubien A Co., Montreal; John E. Wiley, Gairdner A Co., New York; George C. MacDonald, McLeod, Young, Weir, Inc., New York; R. H. Dean, Nesbitt, Thomson A Co., Montreal A Co., Cincinnati; Mr. & Mrs. Byron C. Foster, Westheimer A Mr. & Mrs. Curtis H. Bingham, Bingham, Hurry A Walter, Los Angeles Jameson, Pohl Company, Cincinnati; Mr. Southwest Robert M. Gardiner, Robert H. Howard, Mrs. Reynolds A Co., New York; Reynolds A Co., New York Mrs. Ed W. Franklin, Dittmar A Company, Dallas; Leo L. Paul; Mr. & Mrs. Milton F. Lewis, A.G. Becker A Co., William C. Porter, Dittmar A Company, San St. Mr. & Mrs. Gerald P. Peters, Peters, Writer and Company, Denver; Mr. & Mrs. Mrs. Kelton E. White, St. Louis; Mr. & Mrs. Albert E. Schmelzle, Fusz-Schmelzle A Co., St. Louis; Mrs. Harry Theis, St. Louis Quist, Harold E. Wood A Co Incorporated, New York; Antonio Mr. & Mrs. J. W. Means, cisco; J. Emerson Thors, Kuhn, Loeb A New Fran¬ Co., York A Christensen, Inc., Denver; James M. Powell, Boettcher Graham Walker, McManus A Walker, New York Stevens G. Manning, Paine, Webber, Jackson A Curtis, Los Angeles; Mr. & Mrs. Albert C. Purkiss, Walston A Co., New York Corporation, Atlanta; C. Merritt Coleman, Allen ' A Ted C. Henderson, T# C Henderson A Co*, Inc,, Des Moines, Iowa5 H. Lyons, Allen A Company, New York First Southwestern Company, New York City, John C. Egan, First California Company, San Laurence PICTORIAL Edwin L. Douglas Beck, The Commercial and Financial Chronicle Commercial Hansel, Shields & A tinancial Company, Chronicle; York Mr. & Mrs. Milton S. Trost, Stein Bros. & Boyce, Louisville; New New Lloyd Clearihue, A. E. Ames & Co., Inc., Boston; dNan Davis, San Francisco; R. Michael Charters, Association of 'New York Stock Exchange Firms, -,v \ New York City J York; Krusen, Shear son, Hammill & Co., New Floyd F. *- Robert F. Anderson Robert A. Stansberry, pany, Bankers New York Trust Com- Leo New Mendel, York; G. Haugen, guest; Mr. & Mrs. Frank H. Morse, Lehman Brothers, Z. P. Giddens, guests Lester Mrs. H. Lyons, Mrs. Manufacturers Trust Company, New York; Frank T. Kennedy, C. J. Devine & Co., William S. Morrison, Jr., Harris Trust & Savings Bank, Chicago; E. J. Altgelt, Jr., Harris Trust & Savings Bank, New York City Scebeck, Hemphill, Noyes <£ Co., New York City; C. McLeod, Chemic I Cirn Exchange Bank, New York; W. Brauns, McDonnell & Co., New York; J. Hindon Hyde, Henry H err man & Co., New York L. Egerton B. Vinson, De Haven & Townsend, Crouter & Bodine, Philadelphia; C. Ivor Murray, Nesbitt, Thomson & Co., New York; J. A. Kingsmill, In¬ vestment Dealers Association of Canada, Toronto ■ H. Stanley .York; ... Frank York; Co., Thursday, December 19,1957 Empey, Lyons & San Francisco; Shafto, Kevin Boston J. Brophy, R. S. Dickson & Co., Inc., New John W. Reno, Carl M. Loeb, Rhoades & York; Edward J. Costigan, Edward D. New Jones & Co., St. Louis Jrhn L. Ahbe, Distributors Group, Incorporated, New Y^rk: Mrs. Bernardine Simonds McEvoy, De¬ troit; Matthew J. Hickey III, Hickey & Co., Chicago & Brown, Jr., The Co., Volume 166 Mr. & Number 6700 ... Mrs. Claude IV. Wilhide, <ft Co.; Baltimore The Commercial and Financial Chronicle Baker, Watts Mr. & PICTORIAL Mrs. James F. Keresey, Baker, Weeks A Co., New York; Mr. & Mrs. Gilbert White, White & Co., New York; Walter W. Craigie, F. W. Craigie & Co., Richmond, Va. Chandler Robbins, M. A. Schapiro & Co., New York; Morris A. Schapiro, M. A. Schapiro & Co., New York; Wilson A. Britten, Calvin Bullock, Ltd., New York; Francis Goodhue III, Calvin Buttock, Limited, Philadelphia; Ernest E. Keusch, W. E. Hutton & Co., New York; George R. Waldmann, Mercantile Trust Company, New York; Thomas C. Cafone, W. E. Hutton & Co., New York Vincent Reilly, Commercial & Financial Chronicle, New York; Arnold J. Kocurek, Rauscher, Pierce & Co., San Antonio; Henry L. Harris, Goldman, Sachs & Co* New York; Taylor B. Almon, F. Rauscher, Pierce & Co., Dallas Mr. & Mrs. James R. Robert G* Robert C. Matthews, Jr., Trust Company of Georgia, Atlanta; Mr. & Mrs. Walter J. Creel/, Goldman, Sachs & Co., St. Louis; Mr. & Mrs. William S. Hildreth, Peoples National Bank, Charlottesville, Va.; Mr. & Mrs. Hunter Breckenridge, McCourtney-Breckenridge & Co., St. Louis; William W. Hibberd, Trust H. Taylor, Wood, Gundy & Co., Inc., New York; James Hannaford, Dawson, Hannaford Inc., New York; Mrs. George New York; B. D. Firstbrook, Greenshields & Co., Company of Georgia, New York City Edward D. Wachovia C. MacDonald, Mayes, Inc., Birmingham; Mortimer A. Cohen, Sterne, & Mrs. Clarence F. Davis, First Cleveland Corporation, Cleveland; Hurt, Calvin Bullock, Limited, San Francisco Hendrix, Hendrix & Agee & Leach, Montgomery; Mr. Howard B. Dean, Harris, Upham & Co., New York; Andrew J. Lord, Jr., Eaton & Howard, Inc., Boston R. D. Garrett New § York J. & Co., New York; John C. Clark, N. C.; Eugene Co., New York; W. Olin Nisbet, Jr., Interstate Securities Corporation, Charlotte; N. C. Meyers, Bank McMahon, /. & Laidlaw Trust Company, Winston-Salem, Barth & & Mrs. Joseph L. Refsnes, Jr., Refsnes, Ely, Beck & Co., Phoenix; Joseph J. Muldowney, Scott Stringfellow, Richmond; Mr. & Mrs. Walter M. Sorenson, Rotan, Mosle <ft Co., Houston; Arthur Tresch, A. E. Mast en & Co., Pittsburgh; C. Pharr Duson, Rotan, Mosle <ft Co* Houston Mr. dt G. 10 PICTORIAL mIf 1 fm A x: '' '' ' f Wmrmn mmmmflrnm Irving H. Campbell, Bell, Gouinlock A Co., Toronto; Jeanette Campbell, Toronto; Harold G. Jarvis, A. E. Ames A Co., Inc., New York S. Lynn, Sterne, Agee A Leach, Birmingham; Hudson B. Lemkau, Morgan Stanley A Co., York; Quitman R. Ledyard, Equitable Securities Corporation, Nashville; David Van Alstyne, Jr., Van Alstyne, Noel A Co., New York; Bertram M. Wilde, Janney, Dulles A Battles, Philadelphia Henry New Arthur J. C. Underhill, Arthur Wiesenberger A C. W. MacLean, Gairdner A Company Ltd., Toronto; Mr. & Mrs. Fred W. Hudson, Ball, New & Mrs. Miles Landstreet A. A O. Dorbritz, Moore, Leonard A Lynch, Pittsburgh; Mr. & Pittsburgh; John Securities A Research Corp., New York Mrs. Thomas Lynch III, Moore, Leonard A Lynch, M. R. Morton, Jr., Nations* Russell M. Mrs. Thorburn Co., New York & A Watkins, Stubbs, Smith A Lombardo, Birmingham; Harold W. Clark, Clark, Kirhpatrich, Nashville; William M. Witter, Dean Witter A Co., Chicago; A. Chisholm, Varnedoe, Chisholm A Co., Savannah, Ga. Frank Ernest Mr. Rand Burge A Kraus, Cleveland Mr. York; A. Lucas, Jr., Lucas, Eisen A Kansas Mark Waeckerle, City, Mo. Arthur Co. City; Rand, C. Robinson, Wertheim A Co., New York Rollin C. Bush, First National City Bank, New York Mr. & Mrs. Charles M. Werly, George Putnam Fund, Boston; Ralph Fordon, Fordon, Aldinger A Co., Detroit; Edward D. Jones, Edward D. Jones A Co., St. Louis; Mrs. Richard A. Buck, Boston; George Putnam, Jr., George Putnam Fund, Boston Ergood, Stroud A Company, Incorporated, Philadelphia; Allen A Company, New York; T. Anthony Coculo, Fidelity Philadelphia Trust Company, Philadelphia James S. Abrams, W. Veazie, Mabon A Co., New York; Wildes Charles A. Capek, Lee Higginson Corporation, Chicago; Elvin Popper, /. M. Simon A Co., St. Louis; Bert F. Horning, Dempsey. T eg tier A Co* St. Louis K. Volume 186 Number $700 ... , . The Commercial arid. Financial Chronicle Earle Arthur John Richmond, Gatchell, Hayden, Stone & Co., New York; W. Bunn, Stifel, Nicolaus & Company, Incor¬ porated, St. Louis; Neil M. Holt, J. P. Morgan & Co., New York Mrs. John J. Kenny, Horner Mr. & Mr. & Mrs. Edward Mrs. D. Edward B. /. J. Kenny A Co., New York Co., Lynchburg, Va.; Mrs. A P. Quinn, Milton R. Quinn & Co., Albuquerque, N. Mex.; Beverly B. Munford, Davenport & Co., John R. Gardner, Reinholdt & Gardner, St. Louis; Edward B. De Selding, Spencer York; Newell S. Knight, Mercantile Trust Company, St. Louis; William S. Lawlor, Jr., City; Mr. Monroe & Mrs. W. L. & Mrs. Edwin B. Horner, V. Poole, New York Muir, Muir Investment Corp., San Antonio; Wulbern, Pierce, Garrison, Wulbern, Inc., Mr. & York; Mrs. A Company, Dallas Mr. & Hornblower A Weeks, Chicago Van Ingen A Co., Inc., New I. Cunningham, Kidder, Peabody A Co., New York; Gaerste, Cooley A Co., Hartford, Conn. L. Mrs. Jesse A. Sanders, de B. Bell, Drexel A Co., Philadelphia; Underwood, Underwood, Neuhaus A Co., Houston; William F. Machold, Drexel & Co., Philadelphia Mr. & Mrs. S. L. Sholley, Keystone Company of Boston, Boston; Mr. & Mrs. Frederic C. Beil, Jr., Beil A Hough, St. Petersburg, Fla.; Arthur Horton, Penington, Colhet A Co., Philadelphia Scott, Richard G. Murphy, B. J. Francis John Lyons, Jr., W. L. Lyons & Co., Louisville, Ky.; Sanders 11 George Va.; Trash & Co., New Jacksonville Mr. PICTORIAL Mr. A Mrs. Mr. & Mrs. Weldon Doe, Jr., Seller, Doe A Bonham, Montgomery; Eugene Robert R. Brinker, John Nuveen A Co., Chicago; Mr. & Mrs. H. Lear, Reed, Lear A Co., Pittsburgh Philip F. McLellan, Massachusetts Life Fund Distributors, Boston; T. Armitage, Coffin A Burr, Inc., Boston Mr. & Mrs. Albert The Commercial and Financial PICTORIAL 12 Arthur Edwin New Gray, Jr., A. M. Kidder & Co., New York; A. Bueltman, Blair & Co., Incorporated, Edmund G. O'Leary, Eastman Dillon, Union Securities & Co., New York York; Murray F. Brown, C. F. Childs & Co., New York City; Frederick C. Beil, Jr., Beil & Hough, St. Petersburg, Fla.; Elwoocj D. Boynton, C. F. Childs & Co., New York City; H. S. Parker, Kay Richards & Co., Pittsburgh; Raymond H. Heiskell, C. F. Childs & Co., New York; Kevin Lyons, Lyons & Shafto, Boston Chronicle ... Thursday, December Id, 165 Malcolm F. Roberts, Garrett-Bromfield & Co., Den¬ E. Lynn Crossley, Municipal Finance Officers Association, Dallas; S. Whitney Bradley, Eaton & Howard, Boston ver; J William G. Hobbs, Company, Carl Jr., Jr., Creston H. Funk, Hobbs & Co., San Antonio; James M. Powell, Boettcher and Creston H. Funk, Creston H. Funk, Hobbs & Co., San Antonio Denver; H. Stolle, G. A. Saxton & Co., New York; Robert E. Christie, Dillon, Read & Co., New York; Edward J. Bermingham, Jr., Read & Co., New York; Wallace H. Fulton, National Association of Securities Dealers, Inc., Washington, D. C. Dillon, F. Quigg, Paine, Webber, Jackson & Curtis, New York; Mr. & Mrs. Raymond B. J. Van Ingen & Co., Inc., Chicago; Austin Brown, Dean Witter & Co., New Robert Fred S. Wonham, G. H. Walker & Co., New York City; Jackson Ducournau, Ducournau <fi Kees, New Orleans; William C. Bullock, Bankers Trust Company, New York; Edward J. Morehouse, Harriman Ripley & Co., Inc., New York L B. A. Golf Committee, Mason B. Starring, Jr., A. C. Allyn and Company, Incorporated, New York City James Arncld, G. Rowe, Stroud & Company, Inc., Philadelphia; Harriman Ripley & Co., Philadelphia; Allen M. Girard Trust Oil & V. Condon, York Natural Gas Eugene Terrell, Exchange Bank, Philadelphia; Lawrence B. Illoway, Penington, Colket & Co., Philadelphia Corn Securities Committee Volume 188 Number 8708 ... Commercial and Financial Chronicle The Mr. & Mrs. John H. Edwards, R. J. Edwards, Inc., Oklahoma City, Okla. Paul A. Just, Television Shares Management Co., PICTORIAL Mr. & Mrs. Kenneth J. Howard, /. A. Hogle <ft Co., New York City Chicago; Mr. 8c Mrs. Duane T. Smith, Milburn Company, Wichita, Kans.; Mr. & Mrs. Alan N. Weeden, Weed en & Co., New York; W. Van Heukelhom, Television Shares Management Corporation, Chicago Mr. & Mrs. Warren H. Crowell, Crowell, Weedon & Co., Los Angeles; Mr. 8c Mrs. Mark Davids, Lester, Ryons & Co. o., Los Angeles SmallCarel Mr. & Mr. F. Lyne, Mercantile Bank, Dallas National . Association Stock Exchange . Lewis Company, New York City; Alden H. Little, Investment Bankers America; W. H. Hammond, Braun, Bosworth & Co.,' Chicago; Mr. 8c Mrs. George P. Healy, Adamex Securities Co., New York City of New York Bankers Mrs. Mrs. Macrae Sykes, Shields «ft Association Mr. & Mrs. Russell M. Ergood, Stroud & Company, Incorporated, Philadelphia; Mr. 8c Mrs. Donald Breen, Glare, Forgan <fi Co., Investment & 18 Relations J Committee Albert T. Armitage, Coffin & Burr, Inc., Boston; Erwin W. Boehmler, Investment Bankers Association, Washington, D. C. 14 Mr. A The Commercial and financial Chronicle PICTORIAL & Mrs. Robert Co., Cleveland; Bankers O. Shepard, Prescott, Shepard Erwin W. Boehmler, Investment & Mrs. R. W. Ewing, A. E. Masten A Co., Wheeling, W. Va.; Daniel F. of America, Washington, D. C.; Milton A. Manley, Manley, Thursday, December 19,1957 Nicholson, Investment Bennett A Co., Detroit Association of America, Washington, D. C. Mr. & Mrs. Edward N. Stannard Mr. Mr. Bankers Association ... & Gadsby, Securities A Exchange Commission; Mr. & Mrs. Harold C. Patterson, Securities A Exchange Commission B. Knothe, Halle A Stieglitz, New York; Mrs. Raymond L. Robinson, Garrett Bromfield A Co., Denver J. Ernest & Mrs. G. Gus C. Halliburton, Proctor A Savard, Savard A Hart, Montreal; C. Stevenson, Bacon, Stevenson A New York I. B. A. Equitable Securities Corporation, Nashville; Mr. & Mrs. George S. Kemp, Abbott, Mr. & Mrs. Eugene Treuhold, L. F. Rothschild A Co., New York Paine, Richmond, Va.; Municipal Securities Committee Mr. Co., Mr. & Mrs. Dowell, John J. Chicago; Guerin Reed, Straus, Blosser A Mc¬ Dean P. Guerin, Turner, Dallas A Eppler, Volume 166 Mr. A. & C. Mr. Number 5700 /•. . TheCormnercial^ind Fimncial Chronicle Mrs. Coleman Trainor, Peoples National Bank, Charlottesville, Va.; Mason Allyn and Company, Incorporated, New York; Alan H. Bede, Julien Collins Donald W. Moulton, R. H. Moult on & Co., Los Angeles & Mrs. Middleton & Rose, Laird, Meeds, New York Bissell Harry B. & PICTORIAL Starring, Jr., Co., Chicago; R. C. Chapman, Fulton, Reid & Co., Cleveland; Ralph W. Simonds, Baker, Simonds & Co., Detroit; Mr. & Mrs. J. Gentry Holmes, International Finance Corporation, Washington, D. C.; Dennis E. Murphy, The Ohio Company, Columbus; Glenn R. Miller, Cruttenden, Podesta & Co., Chicago Beecroft, Beecroft, Cole & Co., Topeka; Mr. & Mrs. Russell E. Siefert, Stern Bros. & City, Mo.; Mr. & Mrs. Sheldon R. Green, Chase Manhattan Bank, New York Kansas T. E. Graham, First National Bank, Ft. Worth, Tex.; Mr. & Mrs. C. G. Kaufman, Rodman & Renshaw, Chicago; Mr. & Mrs. Maurice M. Hatcher, First National Bank, Dallas; Charles C. Pierce, Rauscher, Pierce & Co., Dallas Mr. & Mrs. Co., Mr. & Mrs. Harry ■ L. Sebel, Selected Co., Chicago George B. Kneass, Philadelphia National Bank, Philadelphia; Mr. & Mrs. Rankin, Goldman, Sachs & Co., Philadelphia; Mr. & Mrs. H. Alex McDonald, McDonald, Moore & Co., Detroit < Membership Committee Breakfast Meeting 15 Public Utility Securities Committee Breakfast Meeting Investments Harley L. J. The Commercial and Pinanciat Chronicle PICTORIAL i6 A. P. Rayvis, Plymouth Bond A Share Co., Miami; Fred •Robert S. Atlanta; Mr. & Mrs. Mr. & Driscoll, Lord, Abbett A Co., New York; Donald B. Brayshaw, Lord, Mr. & Mrs. Albert R. Hughes, Lord, Abbett & Co., New York; Alvin Lord, Abbett A Co., New York Monroe V. Poole, George B. Gibbons A Co., New York; John J. Kenny, J. J. Kenny Co., New York Mrs. State Legislation Committee Mr. & Mrs. Mr. & Abbett A Co., H. Berndt, William Mrs. Bayard Thursday, December id, ld5? Mr. & Mrs. Charles A. Parcells, Jr., Charles New York City; Miss Henrietta Fox; Mrs. Jerry Fox; Mindy Louise Fox; Howard M. Fox P. Fred Fox, P. F. Fox A Co., Inc., Fox, P. F. Fox A Co., Inc., New York ... A. Parcells A Co., Detroit Mr. & Mrs. J. Earle Jardine, William R. Staats A Co., Los Angeles; Frank E. Morris, Investment Bankers Association, Washington, D. C.; Mr. & Mrs. Edward B. Burr, National Association of Investment Companies, New York; William M. Rex, Clark, Dodge & Co., New York L. Reed, Robert Garrett A Sons, Baltimore; Dominick, Dominick A Dominick, New York Mr. & Mrs. Maurice Meyer, Hirsch A Co., New York; Mr. & Mrs. Daniel T. Pierce, Hirsch A Co., New York Syndicate Committee Breakfast Meeting Volume 186 Mr. & Mrs. Land street A Number 5700 . . . The Commercial and Financial Chronicle Allen Crawford, Jr., French A Crawford, Atlanta, Ga.; Beverly W. Landstreet, Clark, Kirkpatrick, Inc., Nashville; Mr. & Mrs. Joseph B. Wise, Dean Witter A Co., New York Curtis L. Anderson, Blair A Co., Incorporated, New York; Edwin A. Bueltman, Blair A Co. Incorporated, New York; Mr. & Mrs. William G. Simpson, Simpson, Emery A Co., Pittsburgh; Mr. & Mrs. Marshall Johnson, McDaniel Lewis A Co., Greensboro, N. C. Robert O'Keef, The Marshall Company, Milwaukee; Thomas L. Ralph, Fidelity Philadelphia Trust Company, Philadelphia; Virgil Sherrill, Shields A Company, New York; Frank L. Newburger, Newburger A Co., Philadelphia; Albert W. Whittlesey, First Pennsylvania Banking A Trust Co., Philadelphia; Malvern Hill, Malvern Hill A Co., New York Group Chairmen's Committee Breakfast Meeting PICTORIAL 17 Arnold M. Peck, Dominich A Dominick, New York; Mr. & Mrs. Thomas Lynch III, Moore, Leonard A Lynch, Pittsburgh; James E. Osborn II, Dominick A Dominick, New York Henry R. Hallowell, Hallowell, Sulzberger A Co., Philadelphia; Joseph W. Sener, John C. Legg £ Company, Baltimore; James H. Lemon, Johnston, Lemon A Co., Washington, D. C.; William F. Gliss, Jr., John C. Legg A Company, Baltimore; Edwin B. Horner, Scott, Horner A Co., Lynchburg, Va.; Edwin B. Horner, Jr., Scott, Horner A Co., Lynchburg, Va.; Robert King, Jr., First Securities Corporation, Durham, N. C. Mr. & Mrs. B. W. Lucas, Fort Worth National Bank, Ft. Worth; Mr. & Mrs. Philip J. Rhoads, First National Bank A Trust Co., Oklahoma City: Harold E. Waeckerle, Lucas, Eisen A Waeckerle, Kansas City, Mo.; Mrs. John H. Edwards, Oklahoma City; Victor Zahner, Zahner and Company, Kansas City, Mo. . . Industrial Securities Committee Breakfast Meeting The Commercial and Financial Chronicle PICTORIAL 18 Mr. & Mrs. Arthur Wiesenberger & Wiesenberger, Arthur Co., New York Chicago; Milton G. Hulme, -Hulme, Humphrey John E. Fricke, Bache & Co., Philadelphia; Francis P. Gallagher, Mr. & Mrs. Pat G. Morris, Northern Trust Company, Apple gate, Inc., Pittsburgh; Kidder, /' Joseph Mr. & Paul Peabody " ' A. Glynn, Jr., Blewer, Glynn & Co., St. Louis; Walter H. Steel, Drexel & Co., New York; Allan Blair, Allan Blair & Co., Chicago; Frederick W. Channer, Channer Securities Co., Chicago; Paul E. Youmans, Bosworth, Sullivan <£ Co., Denver Wren, U. S. Treasury Department, Washington, D. C.; Charles Williams, Jr., Co., New York Thursday, December 19,1957 William H. Morton, W. H. Morton & Co., New York; J. Howard Carlson, Carl M. Loeb, Rhoades & Co., New York £ Mrs. L. Hewitt, Francis I. du Pont & Co., New York; C. T. C. T. Williams & Co., Baltimore & ... Mr. & Mrs. J. M. Maxwell, The Northern Trust Company, Chicago; Stanley McKie, Weil, Roth <ft Irving Co., Cincinnati; Daniel O'Day, The Northern Trust Company, Chicago; P. A. Bergquist, First National Bank of Chicago; Edward C. George, Harriman Ripley & Co., Inc., Chicago George K. Coggeshall, Schoellkopf, Hutton & Pomeroy, New York.; J. Raymond Smith, Weeden & Co., New York; Graham Jones, Cooley & Co., Hartford Invest in America Committee Breakfast Meeting Kellogg Logsdon, Farwell, Chapman & Co., Chicago; James Howe, Farwell, Chapman & Cp., Chicago; Harold H. Cook, Spencer Trask & Co., New York M. Volume 186 Miss Number 5700 . . . The Commercial and Financial Chronicle Dorothy Clouthier, Investment Bankers Asso¬ Washington, D. C.; Miss Mary Lincoln, Bankers Association of America, Washington, D. C. ciation, Investment PICTORIAL Lee H. Ostrander, WilliamBlair A Company, Chicago; Roderick D. Moore, Branch, Cabell & Co., Richmond; Clifford P. McKinney, G. H. Walker & Co., St. Louis; H. Lawrence Parker, Morgan Stanley & Co., New York; Gus G. Halliburton, Equitable Securities Corporation, Nashville; Clement A. Evans, Clement A. Evans & Company, Inc., Atlanta Col. Oliver J. Troster, Troster, Singer A Co., New York; Ludwell A. Strader, Strader and Company, Incorporated, Lynchburg, Va.; Mr. & Mrs. W. C. Jackson, Jr., First Southwest Company, Dallas; Herbert A. Anderson, Distributors Group, Inc., New York; Edward T. McCormick, American John Stock Exchange, New York C. Hagan, III, Mason-Hagan, Inc., Richmond, Va.; Edward Anderson, Anderson A Strudwick, Richmond, Va.; E. M. Bancroft, Stranahan, Harris A Co., Toledo; James E. Roddy, Scharff A Jones, Inc., New Orleans 19 C. Dickson A Nan Davis; Davis Mr. & Mrs. George W. Davis, Skaggs & Co., San Francisco Sidney San L. Parry, De Coppet A Doremus, New York; Arnold J. Kocurek, Rauscker, Pierce A Co., Antonio; Edward D. Jones, Edward D. Jones A Co., St. Louis; Arthur E. Goodwin, Jr., Bowles, Winston A Co., Houston; Charles C. Pierce, Rauscher, Pierce A Co., Dallas; Mr. & Mrs. Robert J. Lewis, Estabrook A Co., New York John G. Dalenz, Calvin Bullock, Ltd., New York; Mr. & Mrs. B. F. Houston, Dallas Union Securities Co., Dallas; J. Murray Atkins, R. S. Miss Co., Inc., Charlotte, N. C. Municipal Liaison Committees M. Conway, Bankers Bond Co., Inc., Louisville; Mrs. Murray Atkins, Charlotte, N. C.; W. Olin Nisbet, Jr., Interstate Corporation, Charlotte, N. C.; Alfred G. Wilson, Newburger, Loeb A Co., New York Powhatan J. Securities 20 The Commercial and Financial PICTORIAL Janney, Dulles & Battles, Inc., Philadelphia; Walter M. Sorensen, Rotan, Mosle Edward B. De Selding, Spencer Trash & Co., New York; Walter L. Morgan, Welling¬ Company, Philadelphia; Alfred Rauch, Kidder, Peabody & Co., Philadelphia; William S. Knox, Wellington Company, Atlanta Bertram M. Wilde, & Co., Houston; ton Chronicle ... Thursday, December 19,1957 Clapp, Jr., R. W. Pressprich & Co., New York; W. Neal Fulkerson, Jr., Bankers Trust Com¬ New York; Rudolf Smutny, R. W. Pressprich & Co., New York; William D. Byrne, Phelps, Co., New York; Walter E. Morse, Lehman Brothers, New York City; Russell J. Olderman, Hayden, Miller & Co., Cleveland; Kenneth C. Ebbitt, Shelby Cullom Davis <fi Co., New York John J. pany, Fenn & * Cartwright A Co., Columbus, Ohio; Mr. & Mrs. Harry Simonson, New York; Albert O. Foster, Foster & Marshall, Seattle; Ralph D. Baker, James Richardson & Sons, Winnipeg Mr. & Mrs. Todd Cartwright, Sweney National Securities & Research Corp., Mr. Mr. & Mrs. K. P. Tsolainos, Baker, Weeks & Co., New York; Association of America, Washington, D. Bateman, Eichler Federal Securities Acts & Erwin W. Boehmler, Investment Bankers C.; Mr. & Mrs. Willard G. De Groot, Co., Los Angeles Committee Breakfast City Bank, Cleveland; Gordon E. Heffern, National City Bank, Cleveland; Frank S. Bennett, Cutter, Bennett & Co., New York; Charles A. Schoeneberger, National Boulevard Bank of Chicago Mr. Meeting & & Mrs. Mrs. William W. S. Wayne Northwestern Magnus, Glover, National Magnus & Co., Cincinnati; Robert B. Blyth, National California Bank, Los Angeles; Mr. & Mrs. John H. Middlemist, Bank, Minneapolis; Mr. & Mrs. Malcolm S. Prosser, First National Bank, Seattle Seattle Investment Companies Committee Breakfast Meeting Volume 186 Number 5700 . .. John Wasserman, Asiel & Co., New York; Gilbert H. Wehmann, White, Weld & Co., New York; Robert Blyth, National City Bank, Cleveland; George Kneass, Philadelphia National Bank, Philadelphia Mr. & Mrs. Boston PICTORIAL The Commercial and Financial Chronicle Donald W. Hayden, Baumgartner, Downing & Co., Baltimore; L. Anglin, Mac kail & Coe, Washington, D. C.; Winthrop Lenz, Merrill Lynch, Pierce, Fenner & Beane, New York; Robert H. Baker, Rowles, Winston & Co., Houston, Tex. Emil J. Patberg, Jr., Firstf Boston Corporation, New York City; Francis S. King, First Corporation, Boston; Mr. & Mrs. Brainerd H. Whitbeck, First Boston Corporation, New York City York; F. Morgan Stanley & Co., New K. Bassett, W. E. Hutton & Co., Morgan, Earl New Hobbs & Co., Ted R. Mrs. G. Alexander, Texas Bank & Trust Co., Dallas; F. Harding, Boston; Mr. & Mrs. Marsom T. E. Graham, First National Bank, Ft. Worth; Pittsburgh; Mr. & Mrs. Russell Barrow, Shreveport, La.; Col. Oliver J. Troster, Troster, Singer & Co., New York Lockett Shelton, Dallas; B. Houston, Dallas Addison Arthurs, Arthurs, Lestrange & Co., Union Securities San Trust Antonio; G. Company, Dallas; Mrs. William A. Buck Lloyd E. Lubetkin, Lubetkin, Regan & Kennedy, York; William G. Hobbs, Jr., Creston H. Funk, Slezak, Milwaukee Company, Milwaukee; Joseph M. Luby, City, Mo.; Arthur J. Neumarfc, H. Hentz & Co., New York Edward Company, Kansas Robert M. Ayres, Jr., Russ & Co., San Antonio; William L. Reed, Robert Garrett & Sons, Baltimore; Mr. & Mrs. Arthur F. Humphrey, Jr., Hulme, Applegate & Humphrey, Inc., Pittsburgh; Mrs. William York Richard Mrs. W. Guy Redman, A. G. Edwards & Sons, St. Louis; New York; Irving Koerner, Allen & Company, New Commerce Charles Shelby Cullom Davis, Shelby Cullom Davis & Co., New York; Mrs. Shelby Cullom Davis; Richard A. Buck, The Putnam Fund, Boston; Thomas C. 21 B. Pratt, Estabrook & Co., Boston de Bary, F, S. Smithers & Co., New Merrill Df Freeman, Salomon Bros. <ft Hutzler, New York Marquette York; J. T. Woll, Hayden, Stone <fc Co., Boston; Charles S. Barrington, Harry Downs & Co., New Chester Viale, L. F. Rothschild & Co., New York; Robert G. Gerrish, G. H. Walker & Co., Providence, R. I.; Ira C. Roehl, Keystone Company of Boston, Boston; Henry F. Cate, Jr., Keystone Company of Boston, Boston Albert York; Richard Morey, Christophel. De Miles & !The Commercial and Financial Chronicle PICTORIAL 22 A. G. Reinholdt Haven & Edwards & Pelikan, John Nuveen A Elvin K. Laurence A St. Crouter Co., Mrs. Orland S. Brewer, Phelps, New York Jones Sons, & Gardner. Towns end, A St. Louis; Louis; Gordon Bodine, Chicago; Mr. Fenn A Co., Arthur A. Crouter, 6 Co* New A. Hogle dt Co., New York; Mark Stuart, Cowen York; Frank Cunningham, Kidder, Peabody A Co* New York Merrill, Turben A Co., Cleveland John Nuveen A Thursday, December 19,1957 Dana F. Baxter, Hayden, Miller A Co., Cleveland; Russell J. Olderman, Hayden, Miller & Co., Cleveland; Donald Breen, Glare, Forgan & Co., New York; Edmund C. Byrne, Phelps, Fenn & Co., New York Mark A. Lucas, Lucas, Eisen A Waeckerle, Kansas City, Mo.; David Lawrence, Boettcher and Company, Denver; E. M. Bancroft, Stranahan, Harris A Co., Toledo; Miles Pelikan, Popper, I. M. Simon A Co., St. Louis; Carl C. Brown, M. Marks A Co., New York; Ed Costigan, Edward D. Co., St. Louis; Arthur W. Curtis, A. G. Becker A Co., Incorporated, Chicago Ken Howard, /. G. Powell Davis, Investment Corporation of Norfolk, Norfolk, Va.; Jerome C. L. Tripp, Tripp & Co., New York; William H. Clark, Philadelphia • •. Mr. & Mrs. John W. Pancoast, Dewar, Robertson, <£ Pancoast, San Antonio ' Co., Chicago Herman B. Joseph, Joseph, Mellen A Miller, Inc., Cleveland; Richard K. Buechler, E. F. Hutton A Company, New York; Frank H. F. Mr. John Hunter, McKelvy A Co., Pittsburgh; David Hunter, McKelvy & Co., Pittsburgh & Mrs. Angeles; Willard John W. G. De Groot, Bateman, Eichler A Co* Los Callaghan, Goldman, Sachs A Co* New York Bradford Simpson, Jr., Hallgarten & Co., New York; Frank A. Wood, Goodbody & Co., New York; E. J. Birmingham, Jr., Dillon, Read & Co* New York; Edward H. Robinson, Schwabacher & Co., New York City McG. Dalenz, Calvin Bullock, Ltd., New York; Mr. Mrs. Hanover Bank, New York; William G. Simpson, Simpson, Emery A Company, Pittsburgh Evans G. Morgan, Volume 186 Number 5700 .. . PICTORIAL The Commercial and Financial Chronicle Chapin S. Newhard, Newhard, Cook A Co., St. Louis; Mrs. Alfred Rauch, Philadelphia; Mrs. Robert H. Craft, New York City; Mr. & Mrs. Leo B. Babich, Hill Richards A Co., Los Angeles J. S. Curtis, Kalman A Co., Inc., Minneapolis; William T. Mclntire, Jr., ■ R. S. Dickson A Co., Inc., New York; Walter D. Kingston, E. F. Hutton A Company, New Orleans, La. William Saunders, Stiver & Co., Cleveland; Baker, Simonds & Co., Detroit; Arthur C. Turner, New York Hanseatic Corporation, New York Jack O. Doerge, William L. Hurley, Mr. A A New Orleans; J. C. Bradford A Co., & Mrs. C. B. J. Mr. Miami Beach; George T. Flynn, Hornblower & Weeks, Atwill, Jr., Atwill & Company, & Mrs. William T. Kemble, Estabrook Earl Hattier Nielsen, Mr. F. & D. K. R. M. New Weeks, Chicago; Fred W. Fairman, Bache & Co., Chicago; Walbert, Blyth & Co., Inc., Chicago; Dean P, Guerin, Eppler, Cuerin A Turner, Dallas William J. Lawlor, Hornblower & Richard Joseph W. Sener, John C. Legg A Company, Baltimore; Mr. & Mrs. Elwood D. Childs A Co., New York; Ike Owen, Allison-Williams Company, Minneapolis Boynton, F. L. Baxter, Vance, Sanders A Company, Chicago; Preston McNurlen, F. S. Moseley A Co., Chicago; Philip O. Rogers, John C. Legg A Company, Baltimore; Frederic C. Braun, Jr., F. S. Moseley A Co., New York Mark Coughlin and Company, Denver; Gilbert Hattier, Jr., White, Carr Payne, Cumberland Securities Corporation, Nashville; Einer Nashville; J. W. Means, First Southeastern Corp., Atlanta Mrs. Walter J. Coughlin, Sanford, York; Mr. 23 A Co., Bostcn; W. E. Hutton A Co., New York; Cutler, The Parker Corporation, Boston Bassett, Thomas I. Unterberg, C. E. New New Unterberg, Towbtn Co., York; Lewis M. Krohn, Ira York; Jay E. Thors, Asiel A Mrs, David T. Miralia, Kuhn, Loeb A Co., New York; Mrs. Farrdl, City National Bank & Trust Company, Kansas City, New York; E. William Darmstatter, Stifel, Nicolaus A Co., Haupt A Co., Co., New York Anthony Tomasic, rmsourgn; Mo.; Mrs. Fred D. Stone, Jr., Incorporated, St. Louis 24 The Commercial and Financial Chronicle PICTORIAL ... Thursday, December 19,1957 ****** f *** **» m #*«* * » :**•«# *M* ** * ■ « **' « *"**-> **, <K ^ i '■■&&.:% 4&Z ■ v ? *m*. <-*x*4 *>#' *"**:*?* >* ****** *« * / '-iw > .. »» » ■/'.< ■ ?':■ y vm** m *%a t *v*. * :♦ ' • >x »• 44 2 $ ^ it^.^4 *** /■> ".?.«■ ****** ' t t& ****** ■** 8 mm * mm** ^ ^ ??** 44. v ■-■■*,:**> '•: « «**-.• ***** s *•**< i*tf♦« »*t* ** #*»** *1* 1 »« 4 » * f*»*t $'< *M|*< I 5 mm it ****** Most can dynamic city on earth that way pay to stay To hold her supremacy as the is held by its own Sinking Funds New York City's securities, and recommend them for consideration magnificent capital of American and civilization, New York City does realty tax rate is lower than that as of many investments. Interest run to She can big budgets, and a big debt. afford it. She is thrifty, but she cannot be miserly. Let's look Retirement Systems. other prominent cities. Realty collections in recent have The exceeded years 95% of the tax intrinsically diversified, sound levies. New capital commitments come New York for York State taxes City's debt was incurred mainly for revenue-producing Unique poses. among pur¬ American cities, New York has no substantial hidden, overlapping debts. The mended York City are recom¬ by a capable Planning Commission and with the final approval those all of the New England States combined! Over half of the City's total debt long but as from New well. Chase * through its Bond Department, has than taxation, THE Board of Estimate. only about 10% of its vast taxable are greater .• of the The which ex¬ only with extreme caution City's net tax-supported debt is resources, the obli¬ empt not only from Federal in¬ behind the billions. New on gations of New York City is Chase carried Manhattan on a Bank, Manhattan continuing, BANK thorough study of New York City's CHARTERED 1799 fiscal operations and condition. We maintain an active position in HEAD OFFICE, 18 Pins Street, New York 15 Member Federal Deposit Insurance Corporation
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