The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Reg. U. S. Pat. Office
v
Volume
Number
195
-^ tOT l Cll
WE SEE IT
•
^
From Florida,
New York 7,
6124
Refining
.
Co., New York City, and Luther R. Hill,*
the Vice-President in Charge
Authors
But from this
Assistant to
of Sales, M. W. Kellogg Co.,
New York City
'v.V":
Moreover, they refer
industry than the industry as a whole.
to its faster rate of investment
total
chemical
year
since
spending as a percent of the
industry, and also to the fact that in each
1958
exceeded that for
have
investments
its
petroleum refining —and they expect this trend to continue.
Further, because of petrochemicals growth rate of 11.2%
.
conglomeration of reports, guesses and
in the past five years far exceeding petroleum's
year
per
2.7% rate, the writers single out the extent to which seven
petroleum companies participate in the chemical
successful
| to some of the most glaring fallacies of the New Deal
jand the economists and publicists who inspired it. The
(President, for one thing, is said to be convinced that the
increased spending of his Administration to date without
corresponding increase in tax collections has laid the
(basis for a balanced budget in fiscal 1963, despite much
end of oil
Petroleum refining and petrochemical
production.
processing are seen becoming more alike with each passing
and chemical manufacturers are expected to achieve
a still larger stake in the petrochemical field.
year,
Twenty-five years ago the petrochemical industry
was
in its infancy.
It had started in the United
States and was related to oil refining. Today it is
of Maynard Keynes. The
'budget for fiscal '63 is not yet balanced, apd may never
ibe except possibly in terms of the politicians' nomencla¬
ture, but if it were by some chance to turn out to be, we
the chemical industry, in
;
well
nonsense
Doubtful Tax Tonic
kk;:
■:;U, S. Government,
Public
v;i
afforded
are
-
w ;
other Latin
American
tries,
Several
a
hitherto
scale
uft-
South American
and
dollar
coun¬
refineries
and
petrochemical projects have been announced with
surprising
frequency
for
Mexico,^ Venezuela,
Argentina, Brazil, and many other countries to
the south.
With
S
-
rich
petroleum
and with petro¬
refining well established in Canada, coupled
with a relatively large and fast-growing population,
resources
surprising to find petrochemicals likewise
We have witnessed the
growth in recent years of a petrochemical industry
in Japan, based on the same rich Middle East oil
pool. Large petrochemical projects have been an¬
nounced for Australia. It
(Continued on page 22)
State,
Municipal
Section, starting on page 30.
Registration"
AND
Lester, Ryons & Co.
MUNICIPAL
So.
623
Agency
Hope Street, Los Angeles 17,
California
"
Bonds and
Members New York Stock Exchange
BONDS
Members Pacific Coast Exchange
Offices
in
Corona
Claremont,
New Yolk 5, N. Y.
Oceanside, Pasadena, Pomona, Redlands,
Teletype:
DIgby 4-7710
£anta Monica, Whittier
NY 1-2759 U
\
•
OF NEW YORK
TOKYO
•
-"Y
Nikko Kasai Securities Co.
LOS
FRANCISCO
Inquiries Invited
Teletype: NY 1-708
T. L.WATSON & CO.
.
'
MANHATTAN
Pershing & Co.
Banks
and
Brokers
DIVERSIFIED
CANADIAN
CALIFORNIA
1832
Block
Members
Commission
V
Inquiries Invited
Orders
BONDS & STOCKS
Executed On
All
Canadian Exchanges
New York Stock Exchange
Stock
Southern
—
Maintained
Markets
Active
Dealers,
LOBLAW, INC.
PSA T iTflrfr
American
Correspondent
BANK
To
^
York
New
ANGELES
Net
first
on
California Securities
;
Bond Dept.
«
ESTABLISHED
THE
Riverside, San Diego, Santa Ana,
THE FIRST NATIONAL CITY BANK
TJNDEIR. "WRITER.
DISTRIBUTOR
Bond Division
Encino, Glendale, Hollywood, Long Beach,
Telephone:
SAN
Municipal
del Mar,
Blaza
Affiliate:
Notes
Member American Stock Exchange
Associate
1 Chase Manhattan
Head Office:
-
on
multimillion
'
New York 15
'.
area
has been the same in Latin
America, inasmuch as it is close to one of the
world's richest oil pools, namely, Venezuelan oil.
Oil is also plentiful and relatively inexpensive in
REGISTRATION—Underwriters, dealers and investors in corporate
complete picture of issues now registered with the SEC and poten-
STATE
CANADIAN DEPARTMENT
Exchange
Teletype NY 1-2270
goot/lWedt
; company
1
Electronic
25 BROAD
.
:
J
STREET
DIRECT VIRES TO
Dominion Securities
MONTREAL AND TORONTO
Corporation
MEMBERS NEW YORK STOCK EXCHANGE
BRIDGEPORT"
.
v
.
•
v*
Y PERTH AMBOY
■
-
■
,*ri- ;;yv.
v
i(<i
/V
2 BROADWAY
\
NEWYORKn
«
40
1 NORTH LA SALLE ST.
a
r."
?"
CHICAGO
•
>
r
Industry
MUNICIPAL BOND DEPARTMENT
Goodbody a Co.
NEW YORK 4, N. Y.
DAIiT.,»AFI
■
The story
it is not
The Nikko
•
■.
•
.
.
Housing
DEPARTMENT
■■
..
well established in Canada.
tial undertakings in our "Securities in
HAnover 2-3700
«
-
a
JAPANESE
30 Broad Street
■
;
Municipal
Chemical Bank
NewYorkTrust Company
>
;•/:
industry spread to Western Europe after
World War II, although even in the early 1950's it
remained but a very small segment of the chemical
industry. With millions of barrels of cheap Middle
East oil being brought into Europe each day, the
stage was set for a chemical revolution in Europe.
For several years, now, projects have been planned
ammonia, synthetic rubber, carbon black, sulfur
(recovered from oil or gas, or both), ethylene,
propylene, butylenes, butadiene, acetylene, ben¬
zene, toluene, pxylene, mxylene, oxylene, styrene,
polyethylene, phenol, formaldehyde, acetaldehyde,
Securities Co., Ltd.
•
■
The
V
leum
•
•
are
SECURITIES
.
both feet.
and Public
Securities
BOND
States, interested in the potentialities of olefin
chemistry, recognized the possibilities existing in
utilization of a segment of the refinery gas stream.
Thirty-three years ago Shell Oil Company entered
the picture.
Union Carbide Corporation was in it
before that time. Esso Standard Oil Company was
in the petrochemical business before Union Car¬
bide. Phillips Petroleum Company's real entry was
after World War II, and
they jumped in with
Housing,
State and
telephone:
y-* -
both gas
( The major petrochemicals, all of which are pro¬
in excess of one billion pounds per year,
SECURITIES NOW IN
securities
~
..
duced
What has become known as "accelerated deprecia¬
has become an idea to con-£l (Continued on page 26)
•((
chemicals
as
further consider petroleum to encompass
by his advisers of the wisdom of some very doubt¬
tax medicine as a tonic to spur growth in our econ¬
omy.
of this paper we will define petro¬
from petroleum. We will
For purposes
:
Western Europe,
Britain,
chemicals
vinced
tion"
this country. It has spread
Canada, Latin
America, Japan, Australia, arid the U.S.S.R.Great
to
It is likewise evident that the President has been con¬
ful
to taking over the major part of
its way
on
and oil;
'
■
dreamed of.
{larger outlays by the Federal Government. This type of
reasoning has led to a great deal of loose fiscal prorcedures ever since we—or many of us—became overly
should be wise to look elsewhere for the reason.
;
' ■
■
: :
Certain oil and chemical companies in the United
and executed in that
Introduction
j
{impressed with the
methyl alcohol, ethyl alcohol, isopropyl alcohol,
butyl alcohols, ethylene pxide, ethylene glycol,
acrylonitrile, acetic acid, acetic anhydride, and ace¬
tone.
The minor products are numbered by the
thousands.
and the far more
the world-wide spread
survey
rapid growth of the petrochemical segment of the chemical
:promises, there emerges the clear fact that the Adminis¬
tration and at least several of its key figures hold tightly
-
Copy
or
By Henry G. McGrath,* Sales Executive, M. W. Kellogg
few could possibly
[originate with observers or others v^ho would not mind
particularly if the prestige and success of the Adminis¬
tration were somewhat damaged in the process of their
(dissemination.
■ • vi'.-",
1
•'Cv_.
//'.■
*
'
:
a
lillftMiich
with what is going
men who are rfot really in touch
or
what is being projected. A
;by
Cents
where the President was dividing his time
jbetween rest and work, and from Washington to which
he has now returned to prombte his plans for the re¬
mainder of this year, various and sundry reports have
been coming purporting to indicate what the President
is thinking. Few of these stories bear official stamps.
]Some of;them appear to have been inspired with the
{intention, possibly, of having them function as trial
balloons. Others may possibly have been largely devised
;on
Price 50
N. Y., Thursday, January 11, 1962
;
Exchange Place, New York 5, N. Y.
Teletype NY
1-702-3 * WHitehall 4-3161
'
BANK OF AMERICA
N.T.&S.A.
SAN FRANCISCO
•
LOS ANGELES
2
The Commercial and Financial Chronicle
(166)
The
Brokers, Dealers only
For Banks,
QUOTE
can
This Week's
Louisiana Securities
participate and give their reasons for favoring a particular security.
-
for broad markets in
...
United
unless
"distributor"
handled
by
Servateria
—
Van
Midgley,
Analyst,
Mason
Brothers; Oakland, California.
(Page 2)"
: " •
non-food- items.
the
States
V.
the larger
and
—
of profit comes from
percentage
•..
•
>.
■
Bought—-Sold—-Quoted
<
Servateria serves about Control Data Corp. -LawrenceJS.
Vlaun, Analyst, Dean Witter &
establishments
of
which
Co., .New, York. City.>(Page, 2),
as
"a
distributor"
of
non-food about 1,000/**are in the * market
■
products sold i$ chain food mar¬ field. Negotiations are* now being
kets and Super-markets, in the carried on for acquisition of two
:v''.v,y:: -yrv's •>■■■•'
.' .V.v-■. ■
greater Los^.^:: v;*■ other- distributors.
With profit margins sagging in sequent years .and in the mean-.,
Angeles area.
food
The company
items, and with. non-food time provides a cash flow subitems gaining space in the 'mar,- stantially in,, excess; of reported:
sets up dis¬
ketsV (observe this for l yourself earnings. Such accounting treatplay
racks,
United States Servateria
accurate,
and
coverage
a
Analyst, Mason Brothers,
Oakland, Calif..
For truly broad
issue.
attention
full
VAN V. MIDGLEY
Over-the-Counter
any
Alabama &
Their Selections
advisory field from all sections of the country
in the investment and
us
Thursday, January 11,. 1962'
.
Forum Participants and
which, each weak, a different group of experts
A continuous forum in
•
You
Security I Like Best...
.
.
U.
United States Servateria is known
speedy executions,
call "HANSEATIC."
S.
1,800
Steiner. Rouse & Co.
5
'York
Members 'New
Mempevs
Stock
American
19 Rector $t., Naw York 6> N. Y.
u
HAnover 2-0700
NY 1-1557
,
furnishes
New York Hanseatic
Stock
"
BOSTON
NY
t i
,
ness.
goods,
Van V.
price
marks
the
items
and
'
New York
salable inventory. As a rule, U. S.
Servateria extends 30 day credit
into the
IN JAPAN
Write
for
as
a
Data 'is a relative newto
the
electronic .<• date
processing field and is primarily
fiscal
the
com-
on
of
four
mianetd innde ***
ment and
current fiscal
months of
has
year
dicated
whole.
a
is
the
developed
at
10%
some
28
a
a
current liabilities. The 50
Telephone: BOwllnr Green 9-2888
This
not
is
orders
offer or solicitation for
an
for
any
tary and commercial' use. It
is the only
company be-."
sides: I. B. M.
share,
a
unforeseen1 negative
particular securities
share
dividend
is
well
cents
a
that
protected
of the stock
range
tween
a
Need Hard to Find
low
9
has been
IS
and
mon
the
with
area
of 11.
shares of
560,675
outstanding
Tunp 25
on
movement can he
be
Zto
THEM.
YOU WILL FIND
IN
yy-y''.-
?
;
■/ .■
"
.y.'"y::' '/yv*
■,
from
comes
Record
I
(Only
$45
per
; (Single Copy
year)
$4)
—
give
bound
publication
will
'
the monthly prices
all
listed
securities
enije(j'
.
general merchandise display s
serviced by distributors and proportion of non-foods so handled
ranges up to 85%" so states this
Marketing report:
Super-markets save money- ttns way and
free funds tor development and
expansion that would otherwise
go into warehousiiir carloads of
as
those
"hard
to
find"
Over-the-Counter
quotations.
rate
1961
earn'ines
have risen
frmn
S4nn
nn
'an
at
+n
of
the
even
«R4?
a
call:
WILLIAM B. DANA CO.
25 Park Place
New York 7, N. Y.
REctor 2-9570
T
-
continue to provide
June 3()
1962
some
over ^Control
Control Data,s sales
should reach another
new
share
•.
-
.
-
,
?
a
new
record.'On
Data's sales prices
conservative accounting practices
the.
P1"" the over-accrual of income
re-
tl?is company's reported .profits
-oV^'the iiext few years. A more
0f
packaging
display techniques.
to
Vall<i indication of Control Data^s
"'■true'progress; may be obtained by
—
distributors
more
,
.
are
,
.
non-foods
to
command
chares
rather
a
annear
hi «?h
-
fn
the
company are doing much
understate
profits.
For ex-
amole
prop
says one executive
large Food Chain. "
thp
surface
on
trol Data
leased eauinment
very
do
—
if
one
not sell in
or
more,
store, it
can
be replaced with a selling
item
and
the non-selling
item -,
moved to another location, thus?
relieving the food store from;
gathering a large volume of dead,
inventory—the curse of any mer-:
chandising operation. In addition,
with
labor
costs
Food-markets
so
are
one
high,
many;
fJscal 1962, up
writing
in
the-
(This is under
a
third
'
and
fourth
no
offer tor-huf9
from
until the second
stock
member located in
finest resort cities
coast of Florida.
Box A
nancial
exchange
one
on
of the
the west
Send
resume."
111, Commercial & Fi¬
Chronicle,
25
Park
Place, New York 7, N. Y.
today is a,: - far more important
source of
?ou.rc® ^ capital funds for ConcaPltal funds for Con-
near-term
While this
year.
profits
policy penalizes, profits in the first the company is in
year or two, it does result in a; ^tion tacanitaUze
leased--equipment
„
over-the-counter
-,
$0.71 per
Ho1 Data than retained 'profits.
price of the computer per month r a company is to reinvest more
or
30-42% per year. Therefore J *n - the future, it must generate
the company does not. begin to. more ,<iash. nowAlthough the
show a book profit on rentals Pr^sent price appears to discount
..
circumstances ta be construed
solicitation of an
years
Rental income, on the other hand,:
varies from 2.5-3.5% of the sales:
and non-food racks do not receive' from
as
regional
^are .m
und -only $d.28 a
share m 1960. This is extremely
important because depreciation
-under manned- substantial:' Increasei to
;
charge,
arid
us^ per share for
ing
<
Full
trend of cash flow which is
Con-
method
of depreciation,
off 50% of the cost of *
It appears the "distributor" fills: such
equipment in the first year
definite need in
serving the; 25% in the second year, and 12^ %!
one
CASHIER
umbrella
Dpr
approximate ' $0 40
also
an
.
!■;' "i
.
and leasing rates.
h.
.to • conclusion, Control" Data's
peak of
$S6 mimon and net earnings
should
..
_
r>riVp
items
or
„r...
,
:.
.
-
'
.
fees.: downward to match, those of
a company which has only about
ST6% of the total market. Stated
another way, I,B.M.'s present sales
.'Prices and rental fees should
vpar
vain
a
.
multipUer, • but ultraconservative
accounting policies
Food-markets
Write
;
..:
-
-V
the: key to Control Data* success
to its relatively short corporate
.
•
-
»
half the sales
earnings
"Add
of
in. the fiscal
an
isip,
hand
fZPr
sagging nets"
well
Ibout
taxes, and the increasing .amount
of rental business will hold down
fining merchandise
as
june
K4n«
.th.
®.' big bite out
of Department
Store and discounters' soft goods
...
on
million
to S19.8
"Three out of four chains have
volume
you
eSK iif
Corporation in April,
trol
store
general merchandise.
'
"Super-markets are seen taking
This
Fnffinp»prin<r
•
ing of non-food items.
Bank & Quotation
DIgby 4-2727
^aR comparable pieces of J.B.M.
equipment.with,equal capabihties.
This single factor continues.to be
.
me
chain
a
Liquid
—-
S
1960.
Including the results of operations
;
bi-monthly marketing, report, it is
of these two companies tor the"
.
more than 80% of the s,
very evident that a "distributor"
entire period, consolidated sales. ?olld state.computer market there
is most essential to Super-markets
have soared from $3.1 million in'no incentive for I.B.M. to adand Chain Stores in the market¬
fiscal year' ended June 30, 1958 J«st its .sales prices and rental :
which
,
Ppdnr
Refined
—
Exports—Imports—Futures
4
Data's rapid
attributed to two
arrtiiisltinhs»
by:Mr. Abrams, some information of
,
erally sell tor
gams
:
SWR;,'..W
Raw
its' first ^otal, approximately $24' million
Since
^Contrel
rapid.
From materia1 furnished
i.
|^1^ev^1ul^n^tCOmpUterS' and
-riv f
Part of
rise can be
^
,
^s. been able to report sultan-
fl«StoayZnfv rmaCl?
;
is currently about $26 mil¬
lion- which
comparedwith $24.
million at June 30, 1961 and $12
million:; a year earlier.
Of the
back to July 8,1957, the company
iQfii
entire' cap|{
talization. slightly less than 50%
QUOTATIONS?
area t
STREET
WALL
NEW YORK 5, N. Y.
•
compares
fiscal
pany
data
processing
This
1981, of which $1.7 mil¬
lion* was company sponsored.
The, total backlog of the com¬
com-
which constitutes the
f
in
oper¬
tronic
99
{
with expenditures of $4.8 million
profit¬
ably in the
larg4
elec-:* Lawrence S.; Vlaun
be¬
high
current market in the
Of
is
LAMB0RN & CO., Inc.
of its research-
pany, sponsored.
ating
by earnings. Since the latter part
of 1959 to April of 1961, the price
Telephone: BEekman 3-3622-3
For fiscal
1962, the company estimates its
total research and development
expenditures at $6.5 million, of
which $2.8 million will be com¬
and components for mili-
eliminating any
developments.
Company's cash position
currently equals about 80%
of
York 6, N. Y.
61 Broadway, New
projects earnings for the full
year of between 80 cents and 90
NEW YORK OFFICE:
■
Con-
arid {development costs.
cents
The Nomura Securities Co, Ltd.
share,
flow of $Mnp7T Shfe
$0.71 a share last
than capitalize all
in-
he
per
understate Pnntrni noto'c nami.nrto
Control Data's earnings
is
its policy to
expense
rather
electronic
share, up data processago—and ing equipment
year
D A I WA
Securities Co.9 Ltd.
-Another factor which tends to
■_
systems,:
of
SECURITIES
149 Broadway, New York 6»N.Y.
^
manufacture
first
profit
a
cents
over
the
me
only total $0.40
Corporation
corner
Mr'
Digest, and our other reports
that give you a pretty clear
picture of the Japanese
economy
S. Servateria
City
«
.
Control
;
Abrams, President
pany, has advised
Monthly Stock
our
U.
,
display racks.
„
Control
to'thTVtorron'merchandfeeTet
Opportunities Unlimited
,
„
-
JAPANESE
$1;570,700 in the 1961 fiscal year;
the latter figure also includes a
$200,000
product
warranty
re¬
serve.
Thus, while earnings will
Analyst^ Qean Witter & Co.
-.y"
maintains
.
branch o'ffices-
.
For the fiscal year to end June
30, 1962, depreciation charges are
expected to rise to $5 million: from
LAWRENCE S. VLAUN- %
■:
Midgley
our
-
Over-the-Counter Market.v
soft
some
Mobile, Ala.
.
unlike
straight line method,, depreciating
the equipment over. a 7-8 year
period.
,
y-<
r
is traded in the
The stock
is
V,
Direct wires'to
'sum-of-the-digita. method,
while Sperry Rand and Minneapolis-Honeywell employ the
well informed on the
operation of the busi-
practical
supply
items, garden
supply items,
depreciation
year
S.
the "dis-
been in
has
U.
and is very
cal
Wire System
investment?
for
of-
New Orleans, La.- Birmingham, Ala.
that, of I.B.M. which uses a five-
tributor" business for many years,
n
items, electri¬
1-40
SAN FRANCISCO
•
Private
Nationwide
ware
CHICAGO
•
PHILADELPHIA
1
York 5
Teletype
4-2300
: :
Servateria
mer-
drugs, cos¬
metics, glass¬
Exchange
120 Broadway, New
WOrth
-
candidate
of
^
ment
toys,
of
chandise
1920
Member
Associate
American
display
which consists
Corporation
Established
added
the
with
the
plants, etc.) is not the stock of a
noii-food
"distributor"
a
valid
general
Exchange
Stock- Exchange
^
as an
t
earnings:
*
in. sub-'
v
offer to- sell; or > %
P ?
-
Over-the-Counter
Quotation Services
for 48 Years
improvement,
an
on
excellent
the future
to cap/teiize on toe tuture
National Quotation Bureau
•sn
burgeoning growth indicated for
^^^ompwteE-industiy.-ipie. sto'dk;
i Js' traded: in; the
Qver^the-CpUntCr
•
Incorporated
Established
M
Front Street
~
any• setnu'%".vv
,
,
1913
.
;
'
ileyir York 4, N. Y.
;SAN
.T^ANpjBQO^
.
\
Volume
^
195
Number 6124
.
.
The Commercial and Financial Chronicle
.
(167)
3
CONTENTS
Business and Stock
&
r
mmm
AND
CO
M
A
P
N
V
By C. Austin Barker,* Director of Research, Hornblower & Weeks,
New York
City'
V,
t
•
><.
Articles and News
A MINORITY OF ONE
Page
Wall Street market analyst surveys
the outlook for stocks sftor first
postulating the economy's prospects. GNP is seen, reaching $562
billion annual rate in 1962's Jast quarter
—again and
Refining
said
to
be
discover a more
finding It difficult 1o
the
.and averaging $555 .billion
compared to estimated $520 billion for 1961, Institutional investors
are
Petrochemicals: Which Division Will Win?
or
—Henry G. McGrath ,& Luther R. Hill
v
.•
attractive
•
:*f
:>»£•.
•-
'"•* *
»
•.-n:.! H
-Cover
>
*
•"
*
.
•
■).
'■ "•* * .-.l M
>•'
.
•
,
I
.
Obsolete Securities Dept.
'
investment
outlet than
-stocks -due lo new
common
-vv
new
tending
continued strong demand for stocks.
Significant capital
....
All
half.
in
„
all, Mr. Barker sums up the near future as One
calling for "optimistic caution"
get into the subject of
market outlook it is
we
stock
the
based
erect a framework
view of the economic
to
necessary
on
a
easier to make
differences
—Roger W. Babson
'-if':.-.
:U
this
trend
esti¬
.
Electronics Int'l Cap. Ltd.
&
$562 billion annual rate in the
quarter of 1962 and average
$555 billion for the year
—versus
about $520 billion last
1
Cover
on
the U.
De¬
now),^ after
19
Direct Wires to
^
/^y.7,v;v.
.'
: •
.
——
v-.v''
V
U
•'
.•'■ '"r
•
..
48
I
CJevelatfiT'
Philadelphia
v;.•
.••
5t. Louis
Los Angeles
San Francisco
Washington
v*'
r.'.-
'..•;'';
v''.:*;
,
Y/;"
)'
•
Recommendations-_—
Investment
<
•
,";,
*■ Y;
Y
"
"■1
*
■
From
prices may be expected to:
upward, mainly because of'
component,
but
little upward pressure is seen for.
...
'■ •'
.•■■■■■
v
■
•.1Y" v'
■
'
...
-V' "':'v
steady upward trend. Con¬
a
-V
■
-
•
utility sales should
8
KELLWOOD
.l"v■ •••'■
i '
■■
Washington Ahead of the News—Carlisle Barger9>p^_l^_, .10,
.
sumer
STANDARD & POORS
trend
"services"
the
inspection of these services
reading current news indi¬
we are moving forward
about the same recovery rate
wholesale
•<
this
if
fered
encouragement
through
goods, in spite of rising personal
income, but the 1961 Christmas
ciation
shopping season turned out well
ahead of 196b; being higher ;by
real
were
liberalized
Market.
v;
.
:
•
7v'7''"7-7-7''7
.;;7. V-'*
'
'•
and You
.
,
'..v.'- i
■.
.
:7-7
-
•'
...
'
7
'
7;;7i•>": 7
,
SENECA OIL
•
V
'■
''
17
(The)—Wallace Streete—
DIAMOND CRYSTAL
Mutual
•
20
Funds---Joseph C. Potter
News About Banks and Bankers
.
v
18
_______
Some will say that this is not a
this momentum car¬
into 1962, the coming
a new
Observations—A.
It
We also are fortunate in
having
forecasting tools due to the
work of many individuals, and to
the pioneering done in this field
by the National Bureau of Eco¬
nomic Research with its specific
indicators of cyclical turning
points and diffusion measures. I
don't mean to imply that these
Governments
Reporter
on
4
15
;7v':7'7V7^"'■
recoveries.
For example, in 1949
there were special fac¬
1954
tors.
affecting
reductions
private
use.
like
recovery,
which
capital
Transfer
released
12
.Public Utility. Securities
which were muchs in
during other post-War II
effect
for guess¬
—-—
my belief that there are
factors absent in the 1961-62
recovery
and
May——
is
some
more
Wilfred
Our
...
line.
sales record.
COWLES MAGAZINE
boom
estimate, and I must
agree. However it
is a healthy
progress, one that can be sustained
if the Federal budget is held in
to 9%. " If
SALT
of¬
depre¬
investment tax credit
or-
>.
-
New plant and equipment ex¬
penditures may total 37 "billion
for the year,, and
could exceed
of 1954
Many of usVere wor¬
ried about the unwillingness. of
consumers to
purchase retail
7
C"'
prices for
come.
29
Indications of Current Business Activity
>
commodities
months to
some
and 1958.
no room
and
year
have
cates that
materials leave
:
Einzig: "Is Free World Financing Growth of Communism?"-_ 13,
plus
year's retail sales could set
''
-v'v
y
...
An
in the recoveries
%
Dealer-Broker
car
Advisors; bank letters
like the
widely-read Cleveland
Trust Letter; and many other pri¬
vate services.
•
r *
f
'7
seen
some
The year 1962 should be a good
Council pf
Economic
as
r
half,
Survey
of
Business; the Federal Re¬
serve
Bulletin; Economic Indica¬
to
i Coming Events in the Investment Field—————
fluctuations:
during the year.
Sales
and
production
indicate
strong recovery trends in the first
Current
tors, prepared by the
Chicago
above that figure
C; Austin Barker
Commerce
ma
40 Exchange Place, N. Y.
Teletype NY 1-1825 & 14844
Bank and Insurance Stocks J
year.
partment of
Mackie,
HA 2-9000
last
con¬
over
••
Singer, Bean
(Editorial)— L
As We See It
about 123 by year-end (versus 114
ries
VvC ■'•
basis, the Gross
ditions such as
5
•;
Regular Features
The FRB Index of Indus¬
trial Production is likely to reach
i
.y.
.
/
around
information
S.
Lindy Hydrothermal Prod.
16
W
\::-y
a
many
economic
Jerrold Electronics
Coming of Automation: Promise of the Future
•
National Product could well reach
today
sources
these
whereby
could go wrong.
On
mists
business¬
have
Electronics Capital
5
r.
out what I believe to be the factor
mates
Fortunately,
men
Cobleigh—_______
Malone & Hyde
»
,
Then I shall point
year-end 1962.
outlook
and
U.
•y7..'';-
the levels for
estimate
then
and
STREET, NEW YORK
3
,____
visual time and
a
angle projection of the recovery
trend, based on recent recoveries,
for' business?
e c o n o
—Ira
production indexes, it is
Reserve
stage are we
now? What is
I
WALL
National Product and the Federal
cycle. At what
the
___
v
1
:.f ' ':r.■>:■■■!■
Real Estate Companies and Investment Trusts
personally favored stocks, ranging from investments to speculatives,
are listed.
:^
Before
99
—C. Austin Barker.!—
r
not cautious optimism, -Twenty
—
»
Telephone: WHitehall 4-6551
gains opportunities are discerned for 1his year —especially inthe
first
f*•
.
Stock Market Outlook for 1962
Business and
supply of stocks which, in turn, is construed as por¬
exceeding
a
in-flow
money
again we're
only bidders.
Securities Now in Registration
17> •
30
—
J.F.Reilly&Co., Inc.
39
Broadway, New York 5
DIgby 4-4970
tax
more
into productive
payments to old
47
Prospective Security Offerings
_
:age pensioners rose in 1958.
work and unforeseen
I ex¬
pect growth in state and munici¬
Security I Like
they
pal
expenditures in the 1961-62
recovery, as in the previous years.
The
reversal
of
the
inventory
cycle is well under way as in
previous periods. I admit also to
Security
factors; but
account for the fact that
may
when
economists'
forecasts
are
they sometimes are, a
great majority are wrong together.
wrong,
as
Witness'
the
recent
estimates
of
the
"Soaring Sixties." This is no
comfort, but I will plunge ahead
backlog
anyway.
biles which
Estimates of
coveries.
Economic
For
There
is
so
formation
Factors
1962
much
today
for
rable
for
spurred previous
Nevertheless
goods
in¬
The
forecasting
other
re¬
mdny years we
have
specialized in
force
Continued
of
on
Washington
page
and
PREFERRED STOCKS
Spencer Trask & Co.
1
1S68
New
York
Stock
Exchange
ST., NEW YORK 4, N. Y.
TELEPHONE HAnover 24300
Albany
Boston
Nashville
Newark
TELETYPE NY 1-5
Chicago
Glens Falls
'
—
Copyright
Weekly
Schenectady
Worcester
—
48
1962 by William B. Dana
Company
.
"'
»
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i
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28
WILLIAM B.
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du¬
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For
10
(The)
and
expected
that rather than dissect the Gross
14
Salesman's Corner
automo¬
housing backlog
demands are not so great as in
past recoveries.
r
detailed
demand
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Note—On account of the, fluctuations in
rate
of
exchange,
remittances
for
foreign' subscriptions and advertisements
(Telephone STate .2-0613 )u
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be
made in
New
York
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(Foreign Postage extra).
the
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funds.
WHitehall 3-6JS33
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?
The Commercial and Financial Chronicle
4
,
.
Thursday, January 11, 1962
.
(168)
prior consent has been obtained, to the list until at least one week
:
duplicate reports and monthly has elapsed.
(6) No Employee shall impart
statements
of. all transactions
confidential information to others
shall be sent to the employer.
;
for* the
purpose
of facilitating
j
Surely this is deficient in strin-'
securities transactions or for any
gency, coverage, and clarity. What
other purpose except the business
about transactions conducted
of the Exchange or give advice to
through other than member firms?.
others regarding securities trans¬
And just who is "the employer"
from whom written consent is to actions, based on such confidential
OBSERVATIONS..
.
...
BY A.
WILFRED MAY
would
disseminate
false
a
sense
of
security in, and unwarrantedly
legitimize, the speculative4 floor
activities. This constituted
fortunate
result
of
the
an
un¬
Commis¬
„
CLEANING-UP THE CASINO
(Second
Part*)
current
ment's
r
financial
breaks, American
re¬
Committee in 1908 to weigh
the
agitation for the New York State
legislature to "take over" the New
York Stock Exchange, followed
epochal panio Of. 1907. 'Again,
of
the
New
Deal's
drastic "SEC reforms" was made
by the preceding
possible
est by
well
seem
to
York
New
invoke
at
the
for
Exchange's
Stock
in-
follows:
1
mitment
Such drawbacks in government-
..
.
.
•
(1) Employees may make secu¬
transactions and maintain
securities
accounts
on
either a
by the now demonstrated fact
that, at least on the American
Exchange, existing rules do not
get followed. Citing the existence
of
many
constructive Exchange
port
investigators re¬
their basic» conclusion that
the
reports.
Such;: notice
given by a new em¬
who has and intends to
employee
must also be
to
SEC
"the American Exchange has many
the
from
-
:
in
respects
some
The
are
not been enforced in a number of
in
and floor traders and
instances
of misconduct."
dereliction
in
enforcing
specialists
other
Such
existing
rules
the
the
constitution
or
rules
of
curities
account
and
Within the SEC
The
even
based
shareholders
on
was
for
concern
who
would
be
/•;''(•:
de¬
v'V
Forcing the croupier to give the
roulette player a fair shake does
jt/v'y
stringent rules
more
spection at
the
*
any
may
have
SEC,
model
not
the
eliminate
orable
odds
be obtained in
in effect at the
Better
suggested as a
Stock Exchanges.
Books
are
been
for
the
memorandum
A
on
the
of
Rules
Conduct
(Sec. 3-B) circulated by
Chairman Cary on Aug. »18, last,
provides that no Member of the
Commission or staff may in any
event, deal in
for
a
fide
"bona
inex¬
wheel's
against him.
investment
Other
sections
forbid
rules
of
any
media
pro¬
ing ticker; thereby confusing the
entire
investing - speculating gambling distinctions.
A
this
striking
example
current
confusion
is
.
to
be
of
currently
found
SEC
short-selling, buying
margin, dealing in
on
other
and
constrained to glorify the liquify¬
pur¬
these
Living Via the Tape
fessing concern with invest¬
ment, as we have cited, also feel
security excepting
poses" — the "investment" crite¬
rion being based on a minimum
one-year holding (exception may
be ordered in hardship cases).
issue
in
our
newspapers
via
advertising by a group of listed
companies of their payment of
"cash dividends every year for at
least 20 years"—and soliciting the
investing public's inquiries. Here
again, it is found necessary .to
either
pending
registration
or
drape
the
dollar
amount-andwithin 60 days after the registra-.
yield tables along with promises
tion
has
become
effective, and of higher living standards through
investing in [sic] investment com¬
panies or any issue under the
aegis of the Public Utility Holding
sion
be
reported
within five
andijquota^iohs. '
'
'
tattle commis¬
business
days.
Putnam Fund
Potential Over-Zealousness
Elimination
dividends, with "exciting" ticker
tape with its glamorous symbols
Alljxajisactions
Act.
Company
must
via
time.
Convenient forms of notice and
authorization
and staff that
transactions
available to the Exchange for in¬
Exchange."
docu¬
report
securities
already admitted to
trading on the Exchange, a prac¬
tice that was not prohibited by
manifold and prolonged abuses by
largely
statute. The
new
r.easoning'
goings-on. V-'
The Problem's Handling
,
interpretation of the mini- with a non-member organization
munu in rules here is confirmed will be given only if the employee
stronger
than
those
of
other by the SEC staff in this very authorizes the
organization to
Exchanges.
But the rules have report. "McCormick also traded make its records regarding his se¬
that
rules
con¬
surrounding the investing activi¬
rities
contemplating
trading com¬
or
of tele¬
the
im¬
mediately adjacent to the Floor of
•
get advance permis¬ ployee
Exchangers Presi¬ continue an account.
dent. In any event, it seems that
(2) Bfefore opening or continu¬
this interpretation was not fol¬
ing a securities account, an em¬
lowed by President McCormick,
ployee must deliver a letter of
who
presumably did not write consent from the Secretary of the
permissive notes to himself before Exchange to the member or nonhis
dealings
in Crowell-Collier member
organization • involved.
convertible debentures, etc.
Consent to a securities account
sion
imposed reforms are accentuated
rules,
investment
an
and investment legitimization of
the Exchange's highly speculative
for
Commission's
ties of both Commission members
paid Exchange executives,
for the individuals
overconfidence.
the Exchange.
maintained
to all
Transactions
Securities
including the President and staff
in their own investing, constitutes
bull market in stimulating specu¬
venience of members in space
prived of the "great advantages"
of the "liquid" market—an over¬
emphasis of the liquidity concept;
employees from the President
down, specifically spelled out as
midst-boom timing one important place where both cash or a margin basis, with a
of
scandal trafficking and
re¬ a re-writing of rules and enforce¬ member firm or member corpo¬
is
needed.
This problem
form moves entail both advan¬ ment
ration, a bank or trust company,
tages and disadvantages to the was left untouched in the Levy a
registered investment advisor,
:4 public interest. Among the prin¬ Committee's Interim Report (the
or
a
registered
broker-dealer
cipal advantages is, of course, the Committee's complete report is which is not a member firm
(or
curtailment of the public's future expected at the end of January).
corporation.
Notice vof intention
losses
from
abuses
before the
Our own inquiry of some of the to open an account must be given
game is over. Disadvantageous is membership reveals, their impres¬ in writing to the Exchange officer
this timing of reform midst
a sion of an unwritten rule calling or
Department head to whom the
lative
-
provisions of the
its
The present
•
-J
;
privileges to re¬
Exchange (then known
Curb"), locus-, .without
being subjected to the "corporate"
"the
as
(7) No Employee shall enter
any order for the purchase or sale
of securities by means of a mem¬
ber's private wire on the floor of
phones
least the
elusive regulation applying
Avoidance of conflict of inter¬
cata¬
Big Board's Rules
would
It
rule.
understand the
not
did
American
Conflict of Interest Safeguards
clysmic bust-up of the "New Era"
of the late nineteen twenties.
In any
The
the
enactment
'
information.
unlisted trading
tain their
the Exchange or by means
self
exposed Gittrgan Will situation,
for showing,
by taking decisive
action -thereon, that it is genu¬
inely sincere in its professed new
intention to perform under the
rules already available. •
periods: The appointment of
bust
a
to
such consent from
get
event, apparently
former President. McCormick him¬
trial
unique
to
himself?
horse, in the
mind of at least one high govern¬
ment official, is now provided for
the Exchange by the governmentA
investigation* and scandal revela¬
tion at a time Of market boom
form's traditional ^confinement
quired
Significant Test
The
of the govern¬
stock
exchange
occurrence
Is the President re¬
obtained.
be
The
sion's action in 1936 of permitting
the
issues - hitherto
admitted
to
of
interest-conflict
securities
activity
can
be
overdone. For example, criticism
is ' brewing
of the holding
of
Distributors Elect
BOSTON, Mass.—The director^ of
Putnam
Fund
Distributors,
Inc.,
have elected G. L. Ludcke Chair¬
shares which are listed on their man of the Board and Jackson W.
have learned, the the Secretary's Office.
Exchange, by the American Ex¬ Goss President and Chief Execu¬
Exchange has a
(3) Consent is required for the
traders, specialists, insider formal
Officer.
Mr. vLudcke
was
rule, in its constitution, following types of accounts over change's Public Governors. While tive
the status and duties of the Public formerly
_accounts and listing requirements. for regulating its employees' per¬
President, and Mr. Goss
which an employee may exercise
The need for drastic shift to sonal
investing activities; as fol¬ control, in addition to the em¬ Governors undoubtably require Executive Vice-President of the
drastic
vigorous rule enforcement appar¬ lows:-^
re-thinking, the fact of company, which is the national
M
ployee's personal account: (a) An
their shareholder status may well
ently is now admitted by the Ex¬
distributor for The George Put¬
account in the joint, names of the
be
constructive
in
stimulating nam Fund of Boston and The
change's
ruling
regime.
Said
Accounts of Employees of
employee and any other person;
their
zealousness
for
C h a i r m a n-President pro
the rights Putnam Growth Fund.
tern
Exchange and Members
(b) An account in which the em¬
of their fellow shareholding pub¬
Joseph Reilly on Monday (Jan. 8):
In addition, L. Edward Sibley
RULE 416—No member, mem¬ ployee has an interest as a fidu-.
lic. (They should, of course, con¬
of the
"The general tenor of the SEC
company's Boston office
ber firm or member corporation ciary,*a custodian for a minor or
tinue
to
disqualify
themselves has been elected Vice-President
shall effect a cash or margin a member of an investment club
report coupled with the recom¬
from
participation in
any
Ex¬ in
Charge of Administration. Bert
transaction or take or carry a or similar investing group. Con¬
mendations contained in the re¬
change decisions in cases in which E.
Wagner of the Chicago office,
margin account in securities or sent will not be required in the
cent report of our own Special
they
have a personal material and John F.
of
an
account
of
an
em¬
Britton, Jr., of the
commodities in which an em¬ case
interest.)
Study Committee (the Levy Com¬
San Francisco office, have been
ployee of the Exchange or of ployee's wife or another member
elected Regional Vice-Presidents.
mittee)
indicates
the
necessity
any corporate subsidiary of the of his family unless the employee
The "Government" Sanctification
for an American Stock Exchange
Exchange or of any member, has and exercises authority to
ments
in
detail
in
the
case
Actually,
of
American
we
Stock
floor
,
policy wherein
[sic]
firm or member cor¬
poration is directly or indirectly
speak louder than words."
★
Dec.
For
initial
article
cf.
(4) Exchange officers and De¬
interested,
'
"
Observations,
14.
Danger
make transactions in the account.
member
actions will
unless the written
of the employer
has
first been obtained. Where such
partment
heads, and other em¬
ployees designated by them, must
make reports of their securities
transactions to their supervising
officers or Department heads at
consent
.
It is to be zealously hoped
the
SEC's
action
future
Exchange problem
short
of
consider
what
a
the
the
be limited
public might
can
"take-over,"
for
Alan Adelman Opens
that
on
this
Alan
a
Adelman is
E.
securities
at
business
Broad
15
Street,
City.
engaging in
offices
from
York
New
>
*
.
the end of each calendar quarter,
EST.
and,
request, at any other
reports will be re¬
upon
time.
These
turned
to
the employee after be¬
Japanese Securities
ing initialed by the Exchange of¬
ficer or Department head to whom
they are submitted, and are to be
retained in the employee's posses¬
sion for a period of six years.
1870
Reports will not be required of
transactions in MIP accounts. Re¬
ports
will not ordinarily be re¬
quired of transactions in accounts:
(a)-in which the employee has an
Correspondents inprincipal cities
throughout the UnitedStates and Canada
interest
UNDERWRITERS AND DISTRIBUTORS
as
a
member of
or
YAMAICHI SECURITIES COMPANY
of NEW
fiduciary, custodian,
an
investment
^lub;
(b) of members of the employee's
family.
.
Brokers and Investment Bankers
(5)
OF INVESTMENT SECURITIES
any
on
*
&
Dominick
Members New York, American & Toronto Stock
14 WALL STREET
Exchanges
NEW YORK
duties.
make
.
6
'•
j.
any
No
Employee shall
transaction in an un-
YAMAICHI SECURITIES
listed
security if he has any rea¬
son
to anticipate that such secu¬
rity may be made or is the subject
of a listing application; nor shall
'he make any transaction in such
security after, it has been admitted
.
.
'
.
.
N
.
•
'• '•
*
Affiliate of
quired by him in connection with
his
Dominick
No Employee shall make
transaction in securities based
confidential
information ac-
YORK, INC.
TOKYO,
111
BROADWAY,
CO., LTD.
JAPAN
NEW YORK 6
COrtlandt 7-5900
Volume
195
Number
6124
.
.
Chronicle
The Commercial and Financial
.
(169)
trading, buying and selling realty,
there is nothing permanent about
profits from this source, and they
may dry up when the real estate
And Investment Trusts
market
less
becomes
active
or
buoyant.
:
< w.v\■?"'
;
(4) Corporate real estate enter¬
prises
often
build
new
struc¬
.
(2)
Promoters
Limitation of trustees fees
How soon income will start
(5) Type and quality of prop¬
erty in the trust. (Many trusts
(3)
(4)
without
either
start
proper¬
any
5
Graham to Join
Hornblower &
Weeks
ties, or with properties to be con-,
Hornblower
& - Weeks,
1
Chase
structed, and income deferred for
Manhattan Plaza, New York City,
tures.
This
involves
a
certain: a year or more).
has announced the proposed ad¬
A swift summary of some of the features and things to look for in 'A
amount of risk as it may take two
Some 20 real estate investment
mission as a general partner, on
years to construct a high rise of¬ trusts were formed in
realty company shares offering generous tax sheltered incomes, and
1961 with
March
15,
fice or apartment
in the newer real estate trusts which are rapidly gaining popularity.
building, and 9 offering their common stocks to
subject to
market and rental conditions may the
public.
There seems to be
New
York
Since 1950, a major American eco¬ issue the public buys.
Custom¬ undergo major changes locally, little doubt that this type of secu¬
Stock
E x or / nationally
during rity will become widely popular
nomic phenomenon has been the
arily, it has a priority as to divi¬ regionally
change
ap¬
such a period." pV '1 v;.»»•_/.
v
dends
and
becomes
actively
among investors
in 1962.'
Par¬
widespread investment in real es¬
proval,
of
Further, most Class B shares of
attractive would be
:
•
By Dr. Ira U. Cobleigh, Enterprise Economist
,
,
-
tate
income
for
vate
investors,
syndications.
ply stated,
ally
are
divided
gain by pri-s traaed, eitner over-tne-counter or
The "Class B"
implemented by on an exchange.
Syndications, sim¬ stock is usually closely held and
partnerships, usu¬ represents voting control. There
general
among
holders
share
to
in
the
real
sheltered income, and possible re¬
sale gains, resulting from own¬
ership
or
leasehold
of
specific
property. -Syndications have,
however, certain drawbacks. Title
to
these limited
partnerships is
difficult to transfer. Further, there
is
more
broad
no
or
active
market
vidends
yields
to
needs
There's
sell;
from
or
net
more,
income
flow"
is
Become
Corporations
mendation
return
certificates.
share
'fIn
id-stock in
are
estate
for
companies
producing real estate
substantial
*
of
advances
office
so
that
income
has
a
buildings,
pay
dearly for older buildings, many
realty
firms
themselves,
have
been
assembling choice plottage
and
building
new
structures
a
(2)
many
companies has been
of
Class A
stocks.
The
in
and ; .Class
Corporations
subject to
are
Class
A
the
is
|
dent
in the
York
Boston
David Graham
Corporation,
84
a
trust
(1)
less
than
of
capital
from
for
held
1958
New
its
fe
Standard
estate
and
are
will not be reduced by cor¬
come
Real
but
estate
has
great
which
trusts
usually have
legal
insures that
responsibility
the
trust
will
for
distri¬
enta-
important
with
leading
business
and
In
executive positions
industrial, banking
concerns
here and
most
of these
taxation and related matters.
v
& Co. in 1931-1932 and
of
the
London
director
a
as
of the advertising firm of
Thompson &
Co. in
agency
Walter
J.
1932-1937,
Mr.
Graham became
successively Treasurer of the West
and
City
Eugene J. Ryall
branches
located in Boston,
delphia
and
San
are
Chicago, Phila¬
Francisco.
gional Vice-President of the Na¬
tional
Association
of
Manufac¬
turers.
He
was
chief
the
of
their
revenues.from
producing
properties
in¬
duction
Form Donan & Co.
SPRINGFIELD,
N.
War
J.—Donan
&
II.
by
&
Weeks,
business from offices at 266 Mor¬
kerage firm and members of the
New York Stock Exchange and
H.
Avenue.
Officers
Shafarman,
Treasurer,
and
are
Donald
President
Irwin
Vice-President and
^and
Weinberg,
Secretary.
; u
other
security
exchanges,
country.
y.v.v.v.
XvXvX'"'
•
%
The Election Of
k'\x>
*
k'-'
v>'
/'
"As*
I?H
i
.
*
~
/
'/*"•l-
\
,
i
'
V*
.Frank Dyer, Jr.
WE TAKE
PLEASURE
IN
ANNOUNCING
THE REMOVAL OF OUR OFFICES TO NEW AND
As Vice President
Of Our
GREAT
LARGER QUARTERS, DESIGNED
Firm
BY S. J. MILLER
ASSOCIATES. / NOW LOCATED AT 5
Member
629 S. SPRING
Pacific Coast Stock Exchange>
—
LOS ANGELES
TELETYPE
•
224
*•:
MA 7-1041
*
A-V *i- Pasadena, Calif.: 70 S. Euclid
Panorama
LA
—
City, Calif.: Union Bank Bldg., 14530 W. Roscoe Blvd.;
HANOVER
SQUARE/NEW YORK 4, N. Y./DIGBY 4-4460
Bingham .W/vlter 8 Hurry. Inc.
i v
Oppenheimen & Go.
MEMBERS
has its
principal office in New York and
27
other offices throughout the
We Are Pleased- To Announce
■
lead¬
ing investment banking and bro¬
distribution.
(1) Trustees
a
Co., Inc. is conducting a securities
•V.y.;.,v.
r
of
*
'
Hornblower
given
placed
on,
provisions for
In appraisal of a real estate in¬
vestment trust consider:
office
of the War Pro¬
Board
during
World
Pulp Allocation
restrictions
the
-
with J.
executive service
After
P. Morgan
amine. Look for the powers
and
has
he
pecialized in corporate financing,
an important
document which
prospective investors should ex¬
-
number
Mr. Graham has held a
of
is
dividend
firm's
investment banking
prudently and conservatively
managed. The declaration of trust
and
charge
v
ris
class of stock. The trustee
one
of
as
in
Virginia Pulp & Paper Company,
Financial Vice-President
of the
Timber
Company
and < later > Financial
Vice-Presi¬
York
Hanse¬
atic
Corpora¬ dent of Standard Oil of Indiana.
Mr. Graham is a director of the
tion are at 120
Broadway, Harris Trust & Savings Bank of
New
York Chicago, and a ' director and re¬
not
porate income taxes.
be
Headquar¬
ters
of
NeW
than
designed for speculative profits.
They do provide very definite tax
advantages, since if a trust uses
accelerated depreciation to cover
cash flow, ordinary income when
reported will not be taxable to
the trust, and share holders' in¬
the
England
repres
j
market
He
as
Indiana
of
will
He
date.
tive.
From the above, you will note
trusts do not trade in the
real
an¬
nounced.
gains
less
St.,
been
joined the or¬
ganization in
cannot
30%
State
has
distributed
Oil
Company (Indiana).
Mr.
Graham is retiring from his posts
New' abroad.
office of
Hanseatic
the
corporate finance department.
BOSTON, Mass.—The election of
Eugene J. Ryall as a Vice-Presi¬
that
trustees
come
N. Y. Hanseatic
years;
to,
plement
common
stock
available
low,
run
(3) While corporate real estate
enterprises may substantially sup¬
the form
B
such
estate
duced.
the equity capi¬
these
real
estate
the
on
income
real
bution to stockholders may be re¬
cases
of
an
•
of
Standard
of the
Ryall V.-P. of
execu¬
Commit-
tive
be
years.
amou^tq
In
be¬
members
depreciation allowances
Class A and Class B Shares
talization
'
52% Federal Income Tax, so when
thereon.
ef¬
real
as
trust
trol of the trust.
their bases when they make
tax-free exchange of assets for
few
a
defines
member
the
tee
that
Trusts
35% of the shares, or voting con¬
in
Most syndicates use the
"declining
balance"
method
of
depreciation, which quickly de¬
preciates
the
carried- value
of
property,
and
results
in much
smaller depreciation charges after
etc.—-so
than
rather <
secu¬
keep
stock.)
caused
in
protection
against
eroding factors.
(4) must not permit the
(who proposes to be
manager) of a trust to own over
used by the syn¬
partnership
assured
director
and
of
gives
or
derive
gross
come
the price
suburban
apart¬
and
urban
ments,
much
(The cost bases
dicate
investment trust
The law further speci¬
that
must
substantial part of depre¬
has
already
been used.
a
cation
1961, and today there
situated
such
of
should
estate
real
P^esi- ;
-
dent,
The
of
organizer
(1) Depreciation allowances do
continue indefinitely.
Many
real estate,; companies have come
into possession of their properties
after
well
investors
inflation.
fear
in real estate as a business;
(2) must hold reaT, estate and/or
mortgages
for
investment;
(3)
not
publicly owned real
companies. The consequent
demand
;•
and
deal
mind the following points:
280
over
earnings.
-
consideration
rities,
Investment
tax
no
fies
Factors to Consider
scription prices.
More than 150 realty
pays
4
reciting
'The
corporations, in a number of cases
have made public offering of their
shares at popular prices.
These
issues have been exceedingly well
received, enjoyed active trading
markets, and, in certain instances,
increased in value by from 25%
to 200% over their original sub¬
Estate
unincorporated
trust
with
transferable
shares,
having one or more trustees.
A
major benefit enjoyed by such a
trust is that, if it distributes 90%
of its taxable ordinary income, it
on
tended.)
taxes
both of these
equities.
association
in¬
endorsement
or
of the fore¬
A Federal Law, PL 86-779,
Income Tax.
have
incorporated,
ex¬
changing partnership jptprests for
some
fective Jan. 1, 1961,
estate
investment
participations, more¬
Representative issues, falling in
over, have proved "too rich for
the blood" of many; individuals, line with the pattern, just out¬
lined would include the Class A
since they commonly require an
stocks
of
First
Republic Corp.,
outlay of not less than $5,000, and
Futterman Corp., Glickman Corp.,
often $20,000' or $25,000.
Thus,
there arose a broad demand for Income Properties Inc., Walter J.
the same investment commodity Schneider Co., Tenney Corp., H.
in smaller, more negotiable, units R. Weissberg.Corp., United Inves¬
for the average investor.
As a tors, Wolf Corpi (This is just a
random list, without any recom¬
result, many of these syndicate
groups
Vice
with
capital, these current dividends
are largely
exempt from Federal
Syndicate
1952 Financial
tax
a
7%, it
become
Real
of
Syndicates
deliver
could
Gra¬
since/
ham,
If
immediately.
far
and
a
a
him
generated by de¬
distribution
this
of
trust
sheltered return of around
real estate
current
and are
provide
7%
such
issuance, and
conversions of "B"
David
with
completely-packaged,
going points may prove useful in
your
evaluation
of
marketable
di¬
These
trust,
starting
Consideration of
preciation allowances. Since much
diversification.
no
shares.
shares
reduced, and a price
appreciation.
In
today's
larger percentage of corporate in¬ economy, the investor has two
come
is subject to Federal Tax.;
things to contend with — high
importantly, from payout of
the "cash
usually
and
A
may
of
derived
for
participations if the holder wishes
or
Class
of
become
A
income
have
popular practice seems to be
monthly dividends to hold¬
ers
Class
into; "A" could come at a time might well prove a rewarding in¬
when
depreciation
charge -; offs vestment with valid prospects for
to pay
real
companies
subsequent
certificates.
A
:
into
a
within 3 years after
are
tax
estate
convertible
generally, however, specific
corporate provisions whereby this
Class B stock may, after a given
date, be converted into Class A
and
limited partners. The public buys
limited partnerships which per¬
mit
ticularly
and
NEW
YORK
STOCK
EXCHANGE
6
The Commercial and Financial Chronicle
(170)
situation actually compels dealers
D. MACKEY
BY DONALD
V
!
,
T
to bid
TAX-EXEMPT BOND MARKET
Jucilg^I
aggressively for
-/Until inventories
built back
are
'
to normal proportions, state and
tone of the state bond offerings) averages out at municipal bond dealers in most
and municipal bond market been
3.238% as of Jan. 10 as against v instances must present a diverse
changed more
thoroughly than 3.326% a month ago. In terms of, list of tax-exempts in order that
during the past month. As we..dollars, this indicates an average their salesmen and branch offices
entered
December
the
market's market rise of 1% points within ' may be competitive. This market
technical position was generally
30 days for high grade" tax-ex- factor alone will lead to someweak and the easy tone of yearempt bonds. This rise is greater what more aggressive bidding for
end
inactivity
prevailed.
The than for any other 30-day period new issues in the near future.
street
inventory ' condition ..was during, the last year.
Supply Ahead Nut Gargantuan
unfavorable (many dealers were
It snculd be generalized at this
.
,
with bonds), the
Corporate
bond
markets
point, however, that yields
income taxes continue to be
heavy, the chronic
were
overpricing of new state and
..
the
case.
The
has
in
Interest
Bank
while
state
avoiding
a„
issue
of
appropriately
corporate
and
than
long-term
The traditional debt ratios
long-
per
inter-
or
are
Treasury
and
grade
state and municipal
particularly general obliofferings,
hasreduced
The
ffroun
due
bonds
Nov.
from two
high
interest
that have
recently
come
to
t»«.*
t
Price Increase
Such
has
been
—.
bid,
cost,,
a
was
3.6183%
made by
iointlv
headed-
the
yea**
available
The
-
Aggressive Bidding
1
over
the
" V
current
less
a
As
of
Jan.
$260,993,000.
was
total
would
inflated
vember
nrp-s«lpntrd
one
total
issue
size
of
'
California (State)-.
Rate
was
10,
Co..
1978-1980
3.45%
ance
3.25%
-
3.10%*
33/4%
3V4%
1980
31/3%
1980
—31/4%
314%
1977
3%
1980
____
______
"
\
January 10, 1962 Index=3.238%
■
'
include
and
from
.
Mellon
Trust
National
Co.,
National
Island.
from
1.75%
1990:
the
610,000.
3.55% * 3.50%
2%
a
.:
yield
present bal-
Merrill
B a
.
3.40%
'
'
Reoffered
in
1963
present
The
coupon
and
is
maturity
was
of
yield
3.50%
to
balance
1991
k
n
to
in
$3,bore
There
was
awarded
to
the
group
headed by John Nuveen & Co. as
were
Foreign Securities
3%s.
Sold
Quoted
to
Scaled
3.50%
a
presently
Vandeii llroeck. Liclicr &\Co.
V:
Tel.;
MAIDEN
LANE,
HA 5-7300
Private
Wire
°
NEW
YORK
38
Teletype NY 1-4-686
to
Canada
Rie-
+
of
*
$735,000
Oiips '
F
99
.
8:00
1,025,000
/Mnmlavl
.
p.m.
2:00p.m.
1963-1982
11:00
a.m.
'
KnZ'nn
inCo
moo
n
no
1963-1992
":00
a.m.
1,975,000
1983-1982
9:00
a.m.
1,500,000
(Tuesday)
1963-1974
3:00 p.m.
Ector County, Texas._._„...-__...
Jan. 23
.
Babylon, East Farmingdale Water
*
District, New York___
.
1,450,000
'4963-1992 11:00
,1,650,000 1963-1982
1:30
1,800,000 1963-19861 11:00
15,600,000 .1963-19874 11:00
Cape Girardeau Sch. Dist., Mo
Charlotte, N. C.
Georgia Rural Roads Auth., Ga.__
;
.
Jan.
3
.
J
2,250,000
1963-1937
2,935,000
1964-1983
a.m.
p.m.
a.m.
a.m.
10:30
a.m.
8:00 p.m.
1,452,000
1963-1987
1,000,000 i 1963-1982
(weanesaay)
ate of)—:
10:00
a.m.
9:00
a.m.
8:00
p.m.
1,000,000
2.605,000
Jan. 25
^-
1962-1992
10:00 a.m.
1963-2000
10:00
2ftn„
bonds to
•
'lu v
-
1,650,000
fvndinSl hoiriaH
net
a
interest
cost
Associated with Bank
—
?
,
,
'
J:,
^.4.
of
'■
of America
on
•"'hi.
page
f
H
9
1963-1987
1963-1992
10:00
a.m.
11:00
a.m.
___—„
;
v
1,000,000
1963-1982
—,250,000
-r
-
2:00 p.m.
1963-1983
'
-
^
••
Noon
"
>
.
:
Jan. 29 (Monday)
Pomona, Calif.
■
*
1,300,000
\T
OA
j
/rr,
1963-1992
8:00
p.m.
v
Jan. JU (luesday)
'
.
&
Weld
Cos.,
St.
Vrain
'
'
;
.
4,050,000
Two Rivers, Wis
2,445,000
1,750,000
Waco, Texas
2,505,000
1963-1987
1963-1980
10:00 a.m.
1:00 p.m.
3:00
p.m.
^ (Wednesday) Y '
Ca"7°"
c}=ss. A Sch°o1
District No.139, Idaha_-_
.1,100,000
,1nnnnn
Dawson County IRgh S. D, Mont.
Hempstead UFSD No. 11, N. Y...
8.00p.ra.
1,324,000
1962-1982,
3,410,000
Los Angeles, Calif.—14,000,000
1
-
8.00 p.m.
.-
----
1964-1936
10:00 a.m.
Feb. 1 (Thursday)
Eastern New
Madison,
Dis—al._—
Mexico
1963-1992
2,175,000
1963-2001
1,000,000 '
2,900,000
University..
Wis.
:
10:00
10:00
a.m.
7:30
p.m.
p.m.
a.m.
.
-.Feb. 5 (Monday)
Tri-Cities Mun. Water Dist., Calif.
1935-1990
1,750,000
Feb. 6 (Tuesday)
v
Anne Arundel
7,350,000
..._
2,500,000
4,000,000
1963-1992
2:00
7,000,000
1963-1985
Noon
Arundel
-
iColuinbus City Sch. Dist., Ohio—
De Kaib County, Ga.- ——
h! New
3.306%.
'
8:00 p.m.
1,105,000
8,910,000
Michigan (State of).
the syndicate headed by
a.m.
:
1963-1981
2,000,000
3,775,000
'
;
■
2,600,000
-
the Bank of America N. T. & S. A.
p.m.
(Thursday)
County, Md.__l.__.
County Sanitary
: iu-r'
Commission," Md:.
"
-Boulder, Colo,
DktHct
8:00
^
Austin, Texas
Bossier City, La.—,
Clay,- Cicero, Salina & De Witt
County School District, N. Y.___
Danvers, Mass
jefferson
Parish Cons.
Drainage
District, La.—
Rocky River City Sch. Dist., Ohio
?
i:30p.m.
1,000,000
1,700,000
Stepenson County, Freeport School
7 District 145, Ore
-
1963-1984
1962-1976'
;.;f®»500^000
Missoula, Mont.
■
^
100,000,000
Churchill County, Nev
.Hempstead, New York
Anne
nnn nun
Continued
Wi.
1962-1982
W
*■
p.m.
4,592,000
2.00%
account.
MuSrinrf^ URlftv '
Bav
at
System
from
in
aLi»Wof 6«?n
n
American Stock Exchange
yield
balance
Wppk'45
rp
Exchange
to
remains
—
•
MEMBERS
12S
on
Monday,*
Kenton,
Ohio School
(1963-1982) bonds which
District
New York Stock
-n-
Acadia Parish Sch.
also sold
$1,678,000
Banks, Brokers and Dealers
Bought
r+
offered to
yield 3.90%.
For
2:00 p.m.
1962-19&0-jA 1:30
•
2,800,000 -1963-1992
Valley Sch. Dist. RE1J, Colo.—
Orange, Calif.
Industrial
3.40%
—
8.00 p.m.
1962-1988
2,140,000
Ky.
Boulder
Rhode
3.20%
3.55%
v;
1964-1973
Caldwell Parish, La
—hL.
3.20%
3.55%
1979
to
the
City Bank of New York!
major
members
of
this
Bank
3.35%
3.35% '
10:3Q a.m.
a.m.
p.m.
2.00 p.m.
1
.
group
3.10%
,
3.50%
$750,000
is
Other
3 20%
3.35%
1964-1987
a.m.
1963 1990
tional
3.00%
1978-1979
3.25%
1977-1980- 3.35%
1978-1980
3.50%
—
1962-1981
11:00
11:00
2:30
1963-1987
1:00 pan.
York Trust Co. and The First Na->,
3.10%
1974-1975
Scaled
to
aged by the Chemical Bank New
3.20%
1978-1979
—
due
Monday, Jan. 8, the City
Flint, Michigan awarded $6,950,000 general obligation sewer
bonds to the group jointly man-
3.15%
3.30%
reve1964-1981' to the
On
of
•
3.30%
3.30%
3%s- at par.'
as
Building Authority
Inc.
2.20%
Asked
1980-1982
New
Calif
;
Home
and
Inc. and The Robinson-Humphrey
listing
1978-1980
Connecticut
(State)—
33/4%
Jersey Highway Auth., Gtd.— 3%
New York (State)
3%
Pennsylvania (State)
3%%
Vermont (State)——
3Vs%
New
Housing Auth. .<NWY»pN—J:-*%%
Bid
was
syndicate headed by Blyth & Co.,
No-
inventory
Housing
Agency
bonds
nue
been,
dealers'
light
which
1964-2001
The
to
System
The
the
have
MaturRr
3V2%
due
$3,302,000
probably be
than
may
merely
due
to
practices.
This
.
N. Y.—4
-
-
other
Friday, Jan. 5,. saw the sale
Georgia University
.
30, the Blue List total
$50o,c00,000.
total
'
MARKET ON REPRESENTATIVE SERIAL
ISSUES
?New York City,
'
-
onlv
last
Finance
Low,Inventory Portends
—
1969-1972
Boston Metropolitan Dist., Mass...
bv
members at the
among
issue* price
—
T
,
of state and municipal bonds
market's
Baltimore, Md.
Cincinnati, Ohio
New Orleans, La
Chicago IH
2:00 p.m.
3:00 p.m.
7:30 p.ip.
7:30 p.m.
1,950,000
(Thursday)
18
To„
sold:
jj
high grade general obligation type
Los Angeles
1962-1978
1967-1992
a.m.
3,500,000
Mundelein College, 111
—
for the better that The
Commercial and Financial Chron-
yield Index (20
1:00 p.m.
1963-1984
Kansas City, Mo.-__
«On Nov.
Tstate and municipal bond
1963-1982
1,950,000
;■
.
—
y
,
bonds
-
change
*c.
•
Thursday was $2,480,00(1 University of South Carolina revenue
*
Recorded
'
Kinnelon Sch. District, N. J._
Western Kentucky State Coll.,
1,-Yarmouth, Mass.
large
Jan.
•
,
stances.
mar-
-j
1962-1981
1,200,000
—
—-
—
periodically consider it confounds
judgment and- reduces it to
guessing in important ih-
>
Record
11:00
22,558,000
•
our
issues
ket.
2001
11:00 a.m.
1963-1982
11:00 a.m.
—_—
mere
competitive/interest in the rela-
p.m.
r
of)
Washoe County, Nev
account marked closed. Bonds are
,
up on resource and all' of us must
dealer inventories drastically,, and
has generated a livelier and more
new
8:30
'
&
—
.
tively small volume of
Bridge
Modesto School Districts, Calif.---coupon, and the 20% retained for
Ridgewood Twp. Sch. Dist., N. J.
group sales was immediately sold. San Angelo, Texas
out.
The
balance of
the bonds Torrance Unif. Sch. Dist., Calif.__
were allotted to members and the
■:
*
.V;-'
T
0A
dramatically, the debt stranguthat
seems
inevitably
lation
District, Calif*
^
Consolidated
net
Through December and into- posed. Unfortunately,, .the
dire.
January, this broad demand for realization that debt is catching
bonds,
gation
1964-2001
(Monday)
Niagara Falls, New York
V
Oceanside-Carlsbad Junior College
Port of New
term
fetched bids
groups.
capita debt and wealth figures
beginning to indicate, perhaps
too
issues.
good
James
Washington' (State
an
$25,000,000
the
closely
do
bonds
Jan. 15
—1
Ascension-St.
the
Thursday^ Jan. 4,
government bonds, is the increasing tendency among our local HaiTiLn Ripley & Col and Blyth
governments to levy both income & Co., Inc. and including as major
and property taxation, W* is no underwriters Smith, Barney &
has broadened. For this purpose, wonder that new formulae
The
First
Boston
Corp.,
are, Co.,
as
we
have previously JrairitedT'^eing
sought to measure
the Lehman Brothers, Phelps,, Fenn &
but, the netiyields :from certain individual
governmental, unit's Co. and Goldman, .Sachs & Co-.
tax-exempt bonds obviously have ability*—o
pay
in relation to
The bonds were offered at a
been considered to approach in- wealthrtfesource and income,
dollar price of 98.% with a 3%%
term
'
'
Authority,
Revenue
to those buying and selling local
mediate
.
1,295,000
The; Worthtogtoh Exem, Village SD, O.
Holding
bidding.
on
York
1991
rates paid on savings and time
deposits since
early December,
their interest in tax-exempt bonds
as the modus operandi of meeting
the new and higher interest costs
and
,
Carleton College, Minn—
Jan. 17 (Wednesday)
The
new
issue
business
has Alpine
District, UtMl
1,200,000
reartivateJ since
last' went to Batavia City Sch. Dist., N. Y
2,605,000
Dress
Severaliluesof large Hempstead UFSD No. 7, N. Y
1,270,000
volume have been Sd at com-V Norwalk Local Sch. Dist., Ohio...
1,345,000
petitive
spotlight
-Of. interest to all> and not just
more
'
8:00 p.m.
3:00 p.m.
2:00 p.m.
Noon
Jan. Id (Saturday)
.
credit for their foresight
commercial
requirements
2,749,000
2,160,000
2,150,000
we
Comparisons with broad base tax
states are favorable. It could have
been
done
the
easier
political
way.
Governor Meyner and the
state
legislature
deserve much
'
banks have increased the interest
terest
17
1964-1982
1962-1988
1963-1931
1963-1984
6,000,000
r
City Sch. Dist., Ohio
.
in- v
Recent Awards
service is notable in this respect,
Municipals
large
many
GdlC
of this
levy either a sales or income tax.
New Jersey's record m all' public
broadened
As
5, N. Y.
scheduled
broad base tax. New Jersey is one
°f two of the States that does .not.
been
remains light, although $100
million
California's
will
be
of*
the
to
still
fered Jan. 24.
T UI
(Thursday)
wis
port Clinton
new
issues during the weeks
Democratic Governor, he emphasized the fact that he had ac- ahead seems not. likely to press
the market's ability to absorb it.
complished eight years of service r
issue schedule
new
Kimberiy
11
Jan.
-
Colcnie Cent. S. D. No.
of
ject to daily revision) was not
generally expected to remain as
as
•
—
which is sub-
volume
sealed-bid1
of
"ago'*
OOOa0OOna
■:
.
Sfllp
T^fYF
'
.
variable)
derived from the
relatively light new issue calendar.
This
positive factor (light
in
calendar
.
...
,
;
County S. D., Nev.
-
(a
moderate
,
,
•
,
writing, representing sales ;v:oy
Jan. 16 (Tuesday)
through
February, is Binghamton, New York
5,948,000
New Jersey's Low Tax Structure less than $550,000,000. /-^ y 4; -Galveston, Texas'—
2,315,000
The matter of state income1'
As
no
large negotiated:.type Garland, Texas
,> 2,301,000
taxation was forcibly brought.-to., flotations appear ready for mar- Granite School District, Utah__
2,045,000
focus the other day in Governor ket, and since the Public Housing Minnesota State Bd. of Investment
Meyner's (New Jersey) farewell Authority has no date set for thq
Minn.
5,015,000
address at the State House. A sale of a large offering, the supply Montgomery County, Md
13,150,000
mu-
The only positive market factor
issue schedule
The
,
•
darik County,
com-
paratively generous despite the
market betterment. —' '';• f
nicipal issues had persisted and
the
large
institutional
buyers,
through a policy of market disdain excepting at price concessions, had placed the bond dealers
in a definitely defensive posture.
new
after
lboUco
i^Wry Authority, La...—.™ :S0r75O,OOO
Manitowoc, Wis
1,500,000
•
literally loaded
and
^!r>llorhllpfl
OLIIgUUIcU
TccilDC
Qwrny*
Thursday, January 11, 1962
.
market.
Rarely has the
Treasury
.
tomfdi'L'" feelings —ul J}
*°Uowing tabulations we list the bond issues of
$1,000,000 or more for which specific sale dates have been set.
their
the
issues
new
•„
Jersey (State of).
Rj,cfnri
42,000,000
-
ra
5
uston' La"
—
—
:
Feb. 7
Lubbock, T~xas
St. Louis, Mo.
7'
v
'is.*
o
can
11:00 a.m.
1984-1991
nn0
2,500,000
^..
2,250,000
12,676,000
W.
10*00
V
■
'
am
11:00
1904 1991
(Wedn^sdav)
—■
1
———
25,000,000
a.m.
iu.uua.rn.
^
1963-1982
1963-1982
'
-
~'JS?
,
'
_i
"
'
Volume 195
Numb?];,,,6124
*
4
'
•'
■
'
'
'
.
'
•
The Commercial'and Financial Chronicle
...
(171)
©S!!8r^ SI
—
SS 25
fflTT
—
mn nn jot
UiiuialJ
ijdulilllJ
Alameda and ControCosta Counties Residential Area
_
UjJuJ' <l
Pardee Dam
Oakland
Kaiser Center,
Alameda and Contra Costa Counties, California
4%, 3%# 3%%# 3V*% and 2% Water Development Project for East Bay Area Bonds, Series C
Dated
Due February 1, 1963-97, Incl,
February 1, 1962
■
J
•
•
^
.
AMOUNTS, RATES, MATURITIES
Payment and Registration—Principal
s.
N.T.&S.A. in
San
New York in New York,
"nation of
.L.
A
V.
and semi-annual interest (February I
Francisco,
N.Y.,
„
at The
or
$1,000 registrable only,
California,
as
or
at
the
«'
.V 4'*;v
' v.'
'
after February j,
'
•
-
•
(Accrued interest to be added)
f
" "44V-
4
,
1
.]?
whole
'
4
$850,000
4
850,000
numerical order, on February I, 1977, or on any interest payment date thereafter, at par and accrued,in*
^^^terest prul't^-preifiium' of S% for bonds redeemed on February f , 1977, and de^ining" ',/t of'l% each'yeat or fraction
*
'*
are
as-a
or
thereof' ll/ereafter.
;
.
,
-mi,
~ "
r"
*' -
;
.
Exemption—In the opinion of counsel, interest payable
present Federal and State of California
by the District
its bonds is exempt from all
upon
subject to the legal limitations
upon
the amount of
California for other funds which may be
eligible
are
as
invested in bonds which
security for deposits of public
moneys
are
and
supply, storage*, and distribution improvement
v
are
otherwise provided from revenues) has
power
subject
to taxatmn by said District,, without limitation of rate
or
amount,-
■ ;
?*
*
,;
850,000
amortito any premiums
not
shown
bends purchased at
accrue on
paid thereon. .[
whose
are
names
wilt be
as
furnished
relating to theso bonds
and if Issued
on
may
a
above named political- subdivision
at
not
less
request»
-a copy
v'*'
end
received
and subject
•
*:4';
by the underwriters
to
approval
of
listed
legality
of whose legal opinion will be printed
bo obtained from
any
by
on
below,
Messrs.
each
as
well
Orrick,
bond.
of the above underwriters,
other
as
1983*
1985*
.
.100
;
;
1984*
:
v4,.
:
1986*
3%
3.35%
3.40%
3.40%
1989*
1990*.
;
i
,1
y
3.35%
1987*
;
i
vvv:
1988*
-4
:
3.30%
-3.30%
3'/a
4 *
v
"
1992*
:
1991*
3%
.
3.45%
' 3.45%
Dahlquist,
well
.
=
as
100
1993*
100
1994*
.100
900,000
3%
" 1995*
2
,
v 4-
3%
■
3%
*
1996*
.
\
100
3.90%
'
900,000
1997*
2
3.90%
tYfeld to maturity.
'Callable
.*V 1
as
:v
3%
;
100
900,000
than
discount, Investors 'are required under existing regulations to
'44:• :
4
offered when,
Harrington & Sutdiffe, Attorneys, San Francisco, California,
A circular
by iho
,
;
3.20%!
v
■
'
taxable gain may
Legal Opinion—-The above bonds
underwriters
Issued
.V'
*
3v4
-
3.15%
.
1982*
'
900,000
a
100
3.05%
1981*
:
3%
850,000 v
900.000
their par value, and
,4V
.3.10%-
1980*
,
-
3%
850,000
4-
"
3%
.
850,000
4
850,000
Tax Gain, Amortization of Premium—Theso bonds will bo initially
3%
•
850;000
•
v
and is obligated
-.4 4
3%
850,000
850,000
levy .ad valorem taxes for the .payment of said bonds, and- the interest- thereon upon' all prpperty within said
^District
-
1978*
3%
:
850,000
:
PubJic ' Utilities Code. fpr
"legally binding obligations of the East Bay. Municipal Utility .District. The Board of-Directors of said District
"(unless funds for the payment of said bonds
to
'
2.95%
,3.00%
1977
*
3%.
850,000
in the opinion of counsel constitute valid
purposes,
2.90%
•
1979*
3
3%
850,000
'
Purpose and Security—These bonds, issued, under-provisions of Divlsion B. 'Cglifprniq
'
*
,
1975
3
,
850,000
•
various water
^
1974
.
,
1
2.85%
1976
••
850,000
"*
*
"
"•:••••'*'
3
7
850,000
legal investments for savings banks, and
in California.
2.55%.
2.65%,
2.75%
2.80%
1973
4
850,000*
,4;
likewise legal. investments in
are
■
' *
'
legal. investments in California for savings banks,
are
bank's investment, and
a
vv
1972
'
•
2.45%
1970 4
,
r~
v
4
■
2.25%,
W,;0;-?-3?%. :4 V.-
>«1971 > v'
4
!■
850,000
850,000
Legality for investment—We believe that these bonds
• -1969-
4
850,000
•
1968
-.4
850,000
v;4
•*,
'
■
1967
.
4
■
850,000
personal income taxes under existing statutes, regulations and court
'
4-
.
'
* 2.10%
1966
•' 4
.
850,000
decisions,
>
-
1.90%
11 c
1965
,
4
850,000
Tax
Prjcot
1.70%
1964
'
-
*
4
.
850,000
.
.
'
850,000
• - "
.
♦>
„
"
*
4.
850,000
verse
i,*
Due
4
«
850,000
\
1.978,
3
or
•
850,000
or
Yield
t963
Kote
4%
'
850,000
,
in part, in in-
on
:r.4;.
-•/?
Coupon
.
Amount
1
'
-
y
callable
*
?"
First. National City Bank of
First National. Bank of Chicago in Chicago, III. Coupon bonds in denomi-
•
„
»•
!
C
at the main office of Bank of
or
principal office .of The
to both .principal and interest.^
Redemption Provision—-Bonds maturing
payable, at the
I)
and August
option of the holder, at the office of the District Treasurer in Oakland, California,
America
i
AND YIEIPS OR PRICES
:
February
;
1,
1977,
at
described
V
:
.
herein.
\
other underwriters not shown whose
names
will be furnished
on
request,
8
The Commercial and Financial Chronicle
(172)
New
'*
'
'
•
j
.
article
on
.
is
1
1962
.
Williston
Tex
is/
---Booklet
selections
of
Utilities
Electric
&
—
Natural
vs
Discussion
—
1962
—
Investments
135 South La Salle
Gas
Sutro Bros.
~
_
Bank
Utah,
City, Utah.
showing
Investment
the
and
National
the
Quotation
Stocks
—
Handbook for
year
investment, containing 20 essen¬
tial points for stock traders and
investors
New
Rico—Special
Pont
Ltd.,
Development
Japanese Synthetic Fiber Industry
Puerto Rico,
in
current issue of
Digest" — Yamaichi
—Analysis
"Investor's
Securities Co.
York
Ill
Broadway, New York 6, N. Y.
are analyses of the
Japanese Pharmaceutical Industry
—Emanuel,
Broadway,
N.
Y.
Ltd.
Co.
Outlook
Market
—
Also
available
is
list
a
Review
Bulletin
of
"
„
Steels in 1962
H.
body
Co., 72 Wall Street, New
York 5, N. Y. Also available are
reports on Chicago, Rock Island &
Pacific, Miami Industries, United
York
—
—
Hentz &
Carbon
Co., Avco Corp., Polaroid
Corp. and Raytheon Co.
Motor
Vehicle
Industry
Replacement
Report
Part
Mackay &
Company, 524 Washington Street,
Reading, Pa.
—
—
New York City
Banks—Compara¬
tive figures of nine largest New
&
—
Co.,
Bulletin
—
Analysis
—
Eichler
&
Street,
Bro.
Piper,
Jaffray
Bend >.x
Co.
Bag
Hopwood, 115
Minneapolis
&
Memorandum
—
—A. C.
Salle
Laden-
Corp.
Pershing
current
&
New York
Hutton
a
MacAndrews
i
Dextone
Co.
Forbes.
—
&
Analysis—
Company,
Building, Pittsburgh
Steel
&
York
New
&
Solar
Co.,
—
&
York 6,
;
Manufac¬
&
Co., 29
N. Y.
New
Broadway,
Victory Markets—Memorandum—
&
Fahnestock
York
New
Broadway,
65
Co.,
6/ N. Y.' •;
,
,
Swasey—Memorandum
Warner &
Company — Survey — Robert W.
& Co., 110 East Wisconsin
Baird
Pine
80
Street,
I
5, N. Y.
Systems,
Inc.
—
available is
-
Rand
—
Memorandum—
New York
6, N. Y.
Standard
Fruit
Memorandum
a
survey
of Brunswick
Corporation.
Oppenheimer
In New Office
Stock
York
New
firm of
Exchange
Oppenheimer & Company,
of
the
Oppenheimer
moved its executive
offices to three entire floors of the
sponsors
has
Fund,
Hanover
Square; building, a
property also having a 66 Beaver
Street entrance, downtown; Man-'
hattan's
newest
structure.
The
5
doubles
almost
move
available
its
at
According
to
the
space
25
Broad
former
\'i
Street address.; \
Max Oppen¬
Mr.
—
during
added [administrative
by the concern's
the
years;
occasioned
load
of branch office expan¬
program
sion; and the decision to acquire
most convenient and up-todate facilities
available for the
the
performance of the organization's
mutual
fund management func¬
tions.
.
the maior
floor
the
portion of the increased
has been allocated to
firm's ' research
department
space
Fund management
increasing
Steamship—
Johnson,
Lane,
staff.
and im¬
scope
portance of these activities make
this
arrangement desirable," he
"Moreover," he explained,
analytical nature of
and fund
management
"the intensely
research
require an attractive, quiet at¬
mosphere, removed from the dis¬
tractions normally associated with
an
investment office. This con¬
sideration
&
in business
the 1 past several
steady; increase
said.
Review—
Darius, Incorporated, 80 Pine St.,
New York 5, N. Y.
Sperry
Also
Avenue, Milwaukee 1, Wis.
and
Discussion^—
on
Lloyd, Miller & Co., 1411 Penn¬
sylvania Avenue, N. W;, Washing¬
ton 4, D. C.
74 Trinity Place, New York 6, N. Y.
N. YvV
Inc.—Analysis—Schweick-
turers,
art
-Memorandum—
Co.; 120 Broadway,
Merchants
United
"The
Memorandum—
—
*—
According to Mr/Oopenheimer,
Jacques Coe & Co., 39 Broadway,
Troster,Singer & Co.
,
&
memorandum
Co.
&
Covato
Sharon
Company,
1
Chase
Manhattan
Plaza, New York 5,. N. Y. Also
is
;V
,
Fruit
York 5,
New
K
;;
Stearns
available
Com¬
19,Pa.;
County Trust Co. of White Plains
If
Sexton
Inc., Bigelow
Co., Inc.,
4, Calif.
F.
Study—
Service Drug-—Memorandum
John
Street, Sari Francisco
—Memorandum—E.
—
Humphrey
-
Philadelphia 9, Pa.
Freightways—
Birr
&
Robinson
Lenchner,
Consolidated
—
Street, New York 4, N. Y.
.
; -
Memorandum
Manhattan
Self
Broadway,
Co.120
5, N. Y.
Also
*
heimer, the firm's senior partner,
the move was made necessary by
—
—Woodcock,
Moyer,
Fricke
French, Inc., 123 South Broad St.,
on
Memorandum—
—
Y;
reports- on V e n d o
J. W. Sparks &
Weyer¬
Inc., Rhodes-Haverty Bldg.,
Atlanta 3, Ga.
;
/.'■
Proctor-Silex.
Ghrys'er
Co.
and
pany,
memorandum
a
.
the
The
Chicago 3, 111. Also
is
155 Sansome
|
f v
Express-
Scientific-Atlanta, Inc.
Corporation—Analysis
Street,
Co.
United
volume
Broad
Allyn & Co., 122 South La
available
N.
5,
York
are
Company and Monsanto Chemical
Pittsburgh Plate Glass Co.—Anal¬
Street, New York 4, N. Y.
Brunswick
available
ysis—Golkin, Bomback & Co., 67
'
—
Galvan
&
haeuser
Analysis—
—
Thalmann & Co., 25 Broad
burg,
Direct Investments in Latin
Chase
Intermountain
26
Analysis-
—
2, Minn.
discussion of Unilever.
—
Co:, Tri-State
Hokin
Bemis
January issue of "The Ex¬
change" Magazine — The "Ex¬
change Magazine," 11 Wall Street,
New York 5, N. Y.—200 per copy,
$1.50 per year. Also in the same
issue is an article on price rela¬
tionship between common stocks,
preferred stocks and bonds, and a
Highlights
Co.—Memoran¬
Vaughn Building, Dallas 1, Texas.
issue of "Latin-American Business
.
Kinnard,
Street,
Parker, Ford and Company, Inc.,
New
Bankers
Trust Company, 16 Wall
Street, New York 15, N. Y.
Pacific
South Seventh Street,
Discussion in
Ltd.—Memo¬
Ore
Data—Sirota, Taylor & Co., Inc.,
Broadway, New York 4, N.; Y,
Also available are data on Ets-
Aluminum
Bauer
Report—
-r-
Harris, Upham & Co./120 Broad-:
The
Iron
Building, Cincinnati 2; Ohio.
2, Pa.
4,N. Y/
America^—
Swift
dum—Geo. Eustis &
Inc.,
Co.,
&
&
Northern
and W. R.
Bradley,
Power,
Fire
memoranda
and
Long View Fibre
Philadelphia
Street,
Corp;
•
on
Inc., 133 South Seventh
Minneapolis 2, Minn, -jfyi
Bulletin-
—
' L'
Transamerica
Public
Co.,
Gas,
randum—Craig-Hallum,
Corporation of America.
Radio
&
Stocks,
Milton
Liberian
Co., 120 Broadway, New
&
Gas
Natural
Electric
data
are
Grace.
Report—Rey¬
—
5, N. Y. Also available are
reports on Goodyear Tire & Rub¬
ber, International Harvester, and
in
S.
on
States
nolds
Stock Market in 1962—Discussion
U.
Products—Analysis
available
Also
Casualty
Co., 453 South
Los Angeles 13,
Tools
Oil
Baker
Good-
York Banks—as of Dec. 31, 1961—
Fink
&
Service
Bate-
—
York
Broadway,
2
Lehn
Calif.
for
Broadway, New York 6, N. Y.t- p
*
Air¬
Trunk
;v-:■'v/V'
Paso
Spring
Capital
Boston
.v
El
man,
' ~;
Corp.,
.
.
Y.
Bank
5, N. Y. Also available
analysis, of: Tillie Lewis
an
Memo¬
N.
Arizona
ex¬
Deetjen & Co., 120 and Small Business Investment Co.
New York 5, N. Y. of New York—Sartorius & Co., 39
stock selections. ' H
Market
Franklin
,
—
—Paine, Webber, Jackson & Cur¬
tis, 25 Broad Street, New York 4,
Investment Com-,
Banlife Corporation
panies r— Report with particular Charles A.
Taggart
reference to Marine Capital Corp.,
1516 Locust
^
Domestic
on
lines.
5,
Small Business
Bulletin
randum
du
1 Wall Street, New
Co.,
County Land Co.
Gardner-Denver, Armco Steel and
closs, Parker & Redpath, 2 Broad¬
way, New York 4, N. Y.;
1 ■
Also available
I.
is
—Paine, Webber, Jackson & Cur¬
randum—Carl M. Loeb, Rhoades tis, 25 Broad Street, New York 4,
& Co., 42 Wall Street, New York N. Y.
5, N. Y. Also available is a memo¬ Weyenberg
Shoe Manufacturing
Kern
Jonathan Logan.
45 Wall Street, New
5, N. Y.
Francis
Street,
N. Y. Also available are
discussions
of
Paper Producers,
Rubber Stocks—Review—Auchin-
of New York, Inc.,
Mitsubishi Estate
Bank
&
York
Tokyo,-"'Japan — New
plaining the Commonwealth's new
York office 25 Broad Street, New
and realistic debt concept—Gov¬
York 4, N. Y.
ernment
Co.,
Jolla, Calif.
5, N. Y.
—
Corpora¬
Westheimer and
—
326
Walnut
Cincinnati 2; Ohio.
Company—Analysis
14 Wall St.,
"Investornews"
Engineering
Report
—
Company,
7616
Company,
&
Hutton
F.
tion
25
Street/New York 4, N. Y.
Interstate
Memorandum—
—
Alcoa—Review in current issue of
in
Bureau
report
Reduction
New York
period — National Quotation
Inc., 46 Front
Street,
York 4, N. Y.
Puerto
i'-'*.'..
Broad
—W. E. Hutton & Co.,
Bureau,
The Nikko-Securities
—
General Cable
on
Memorandum—Laidlaw & Co.;
John
Air Reduction
market
Japanese
Memorandum
and Parke Davis. \
Associates, Inc., 600 Old
Girard Avenue, La
Averages, both as to yield and
performance over a 23-
r
memoranda
are
—
Co., 25 Broad Street,
York 4, N. Y. Also available
New
Discussion—
Steel
&
International Business Machines—
Air
Foldei
used
North
Eighths-Street, St. Louis 1, Mo. - t
Fluke Manufacturing
Co., Red Rope Stationery Indus¬
tries, and Binney and Smith Inc.
over-the-
35
—
&
A.
Tnb.| 52 Wall St.,
New York
way,; New
Hirsch
M.
A. G. Edwards & Sons, 409
Country Road, Garden City, N. Y.
Dow-Jones
stocks
Corporation
Mott
Inc.—
Co.— Analysis—
P.
-
Industries—Analysis—Colby
AMT
compari¬
counter industrial
I/' ■'
Inland
De
industrial
the
:
'
World,
&
Co.,
Foods, Inc.
—Hirsch
E.
in
!
■
Brace
Inc.—Analysis—G.
Tube.
Saxton- &
Analysis—Butler, Herrick & Mar¬
shall, 76-11 Thirty-seventh Ave.,
Jackson Heights ;72, N. Y.*
/ > ;
Company, Inc., 85 State Street,
Inc.,
the listed
used
'
,.
*
analysis
an
Harcourt,
Boston,. Mass. Also available .is
an analysis of Harvey Aluminum.
Inter-
—
''.""r.-'*
2 Broadway,
Also available
of CSwingline, Inc.
Beane,
Also available are data on Lance,
up-to-date
an
between
son
stocks
—
Y.
the
Over-the-Counter Index
—
Daiwa Securities Co.,
Ltd., 14)9 Broadway, New York 6,
N.
&
Security
N. A., Salt Lake
of
Averages
survey
'
Region—First
mountain
Company,
.
1962—In
for
Outlook
N. Y.
—
'
rl?
Case C .
t
Ml*ner Corp., and J.
Street, Chicago
Market
•
(r
i
Analysis—Nomura Securities Co.,
Ltd., 61 Broadway, New York 6,
Japanese
•
Southern New England Telephone
Bulletin—
Electronics Industry
Japanese
'
.
ACF
Inc., 1 Wall Street,
New York 5, N. Y. Also available
are reports on American Can Co.,
cussion of White Motor Company.
for
*
study of United
a
Angeles, Calif .,/
N. Y.
5,
Kidder & Co.,
Co., 80 Pine Street, New York
Y. Also available is a dis-
Forecast
Los
Company, 44
1962—Review-r-A. M.
Outlook for
5, N.
Selected
&
New York
Fruit.
Weeks, 1 Chase Manhattan Plaza,
New York 5, N. Y.
Stocks
Street,
Also available is
1962—A list
Hornblower &
—
—
Wall
for
Stocks
Common
Shields
Year
&
New York 4, N. Y.
investment
describing
a
Packing and Aerospace Equities.
Company
opportunities for surplus funds—
Savings & Loan Association,
1926 Wilshire Blvd., Dept. 57-P,
Shape the
That May
Forces
Cali-
of
Company
Oil
Standard
General Drive-in—Analysis—J. R.
Electric
Towns
World
Industry—Analysis—
Hemphill, Noyes & Co., 8 Hanover
Street, New York 4, N. Y. •
Needham
on
Why Investors Look to California
.
FIRMS MENTIONED WILL BE PLEASED
THE FOLLOWING LITERATURE:
Automobile
memorandum
—Analysis—McFetrick & Co., 132
St. James Street, West, Montreal,
Que., Canada.
<
United
.
,
an
Space and Co., * Inc., Commerce
Building, Atlanta 3; Ga.
"
,
forniar—Analysis—Hooker & Fay,
Inc., 221 Montgomery Street; San
Francisco 4, Calif: I i -r' ; V :
"T1
PARTIES
INTERESTED
SEND
TO
THE
THAT
UNDERSTOOD
IS
IT
"
•«
is
issue
"Puerto Rico Moves Ahead."
AND RECOMMENDATIONS
1
Co; Incorporated, 20 Broad Street,
New York ,5, N. Y. Also available
York
same
INVESTMENT LITERATURE
Thursday,. January 11, 1962
.
Sterling—Analysis—Blair &
Firth
L Chase Manhattan Plaza,
15, N„ Y. Also in the
Bank,
DEALER-BROKER
.
.
high
was
priority
solution."
therefore
in
given
a
design
our
-
•
.
Douglas Aircraft Corp.
—
Memo¬
t
randum—Gude, Winmill & Co., 1
Wall Street, New York 5, N. Y.
.....
......
^
■
r
Specialists in Canadian Securities
Dresser Industries, Inc.—Report—
Newburger
Specialists in
-
-
&
••
Principal for
BrokerSy Dealers and Financial Institutions
1401
Company,
as
'
-
-
Walnut Street, Philadelphia 2, Pa.
Also
available: - are
reports
on
-
Over-The-Counter Securities
Pittsburgh PJa+e
Glass,
Pure
Oil
Company and Sterchi Bros. Stores,
Inc.
■
Eldon
Private wires to:
14 Wall
Chicago
Hartford
Hammill
&
$
Grace Canadian Securities; Inc.
;
Co.,
Street, New York 5, N. Y.
Pittsburgh
Portland, Ore.
Elox
Houston
Salt Lake City
Members: New York Security Dealers Association
25
Los
Angeles
San Antonio
Louisville
San Francisco
Detroit
Minneapolis
St. Loub
Grand Rapids
Philadelphia
Washington, D. C.
Corporation
Analysis
—
of
Michigan—
First California
Com¬
is
an
'
HAnover 2-0433-45:NY 1-4722
Orders Executed at
regular commission rates
through and confirmed by
pany,
able
Broadway, New York 4, N. Y.
TELEX 015-220
Inc., 647 South Soring St.,
Los Angeles 14, Calif. Also avail¬
City, Mo.
Dallas
%
Kansas
.
Cleveland
Columbus, Ohio
•
Industries, Inc.—Memoran¬
dum—Shearson,
Atlanta
...
analysis of Four Star
Television.
Empire
Financial
Corp.—Memo¬
randum—Eppler, Guerin & Turner,
Fidelity Union Tower, Dallas 1,
Texas.
'
'
.
.,
Members:
The
Principal
National
25
Stock
Association
Exchanges
of
of Canada
Se£ujf-ity
Dealers
Broadway, New York 4, N. Y.
-
Volume
Number
195
6124
of
S.
this
A.
-
-
syndicate
The
are
The Commercial and FinancialsChronich
Stock
ciated with the firm at the Water¬
bury
Exchange, took over Jan. 3,
James J. Bigham became
co-manager of the office with his
father, Thomas F. Bigham, who
has been with the firm since
as
Eisele
,
branch.
First
Co.,
National City Bank of New York,
The x.Chase
Manhattan
Bank,
King, Libaire,. Stout
members
the
of
&
1942
1942
to
of
1954,
A.
Libaire,' son of the
founder, Adolphe Libaire, as well
as John
H. Libaire, grandson of
managed the office for pre¬
50
'
the
Broadway, New York City,
King, Libaire, Stout &
Co., founded in
founder,
general
both
are
in
partners
1
Co., Inc.,.,The First Boston Corp.,
Harriman
Ripley- &
Co.,
Inc.,/
Harris Trust • and Savings Bank
and-Wells Fargo Bank, American ;;
Trust- Co. Scaled to yield from *5
,
1:.70.%V in '1963 to 3.50% in'.1995,
balance at presstime is $8,000,000.
*
ix •
•
>.
Thef 1996 • and j 1997 maturities "
carry, a, 2%.coupon and were sold;
at
yield."y
3.90%.
a
day
hectic •
underwriters with' thres x
importance -selling at.
for
-
!
;;
Wednesday; Jan. 10,
was a
issues x of
'
•/;' ,',*r
competitive bidding,. A large bank¬
ing ' group' headed by The Chasex
Bank
Manhattan
.
submitted
-
the :r
best bid for
$33,068,000 New York
State
general obligation
(19632012) bonds. The interest cost was3.392%. The second bid, a 3.413% -;
net interest cost, come from the|
consolidated
group
headed
by';
The First National City Bank of
to
1963
a
to
$20,000,000 City of San Jose
Santa Clara
yield
~
in;
1.65%
from
6%, 4V4%, 2V2%, 2%%, 3% and 3Y4%
dollar price of IOOV2 for
1961
3 V2S in 2009
to-2012, the issue met;
with good demand.
*
County, California
and Lehman Brothers.-
New York
Scaled
/
New Issue
Municipal Improvement Bonds, Series B
In very close
bidding, the Bank
syndicate was the
America
of
Dated
February 1, 1962
Due February 1, 1963-82, incl.
successful
purchaser of $20,000,000City of San Jose, California, mu¬
nicipal improvement (1963-1982);
bonds. The high bid by Bank of
America N. T. & S. A. designated
3.082%
a
cost
second
the
to
compared
a
.interest
net
PAYMENT AND REGISTRATION
—Principal and semi-annual interest ( February I and
August I ) payable, at the option of the. holder, at the office of the City Treasurer in
Sari Jose, California, or at
any fiscal agency of the City in
San Francisco,; Los
Angeles and San Diego, California, or in New York, N. Y., or in Chicago, III. Coupon
bonds in denomination of $1,000 registrable only as to both principal and' interest.
as
bid
3.30%
TAX EXEMPTION—-In the
opinion of counsel, interest payable by the City upon its
bonds is exempt from all present Federal and State of California
personal income
taxes under existing statutes, regulations and court decisions.
;
-
in
1982, the issue is ex¬
be well received. Due
to time differences, no balance is
to
pected
in Connecticut
vestments
'"•'V'lh'i'
Northeast
County
Sanitation
District," California
(1965-1994)
general obligation bonds which
were bought by the Smith, Barney
& Co.-Goldman, Sachs & Co., and
J.
Van
3.80%
about
Toll
Bonds
Road
In
•
$5,300,000
been sold.
bonds have
\
of
period over this
toll road and other
suffer
to
.
turnpike
a
than
rather
shortage,, •'
of
Most
j
,,
our„
•
2V2
1967
2.40%
2%
1968
100
GAIN,',AMORTIZATION
namecf
bonds
political subdivision at not less than their
purchased at
discount.
a
premium paid thereon.
listed
request,
Sutcliffe,
each
on
and
above
below,
San
'
approval
to
of
initially
issued
taxable gain
and
under
extisting"regulations
.v.
•
when,
legality
a
a~
'«* ?!- ;'T-
underwriters
California,
Francisco,
bo
value,
offered
are
will
par
•"
other
as
bonds
required
are
s
bonds
well
as
subject
Attorneys,
Investors
<*
LEGAL' OPINION—The
underwriters
on
PREMIUM—These
OF
by
bond.
and
if
shown
Messrs.
of
copy
X
X
as
not
Orrick,
and
opinion
2.70%
2%
1971
100
;.2'/4
1972
2.85%
1,000,000
'
3
1973
2.90%
1,000,000
2.95%
1975
3
1976
3
1977
f : v
100
1,000,000
5
1974
3
1,000,000
,
3
1,000,000
—
100
!
3.10%
3%,
1978
3%
1979
'>
1,000,000
3Y4
1980
the
1,000,000
3Y4
1981
100
furnished
1,000,000
3Y4
1982
3.30%
on
;•
by
be
~
any
Herrington
will
2.60%
.
.1,000,000
;
be
1969
1970
,;:
:
1,000,000
above
accrue
received
will
names
Dahlquist,
legal
tho
amortize
x
issued
whose
whose
by
may
to
2'/2
2%
1,000,000
3.15%
-
3.20%
,
100
&
printed
-
'
•<;
Bank of America
The Chase Manhattan Bank
Chemical Bank New York Trust Company
Wells
Fargo Bank American Trust Company
The Northern Trust Company
The First Boston Corporation
Blyth & Co., Inc.
C. J. Devine & Co.
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
R. H. Moulton &
Weeden & Co.
Company
Incorporated
Dean Witter & Co.
>\Y-
'
"
*
Mellon National Bank and Trust Company
Salomon Brothers & Hutzler
'
..
shortage
vehicle:
a
2.25%
;
2y2
marketwise
•
;
2.10%
1966
4%
■
1,000,000
.
■TAX
do
from
the
devastating, publicity
'that has attached to a few situa¬
tions. As traffic engineers
con¬
vincingly remind us ' of the; con¬
found ing
surface
transportation
problems facingvus ip the verynear
future, it seems easier to
visualize
1.90%
1965
>
1.70%
1964
1,000,000
payment of said bonds and the interest thereon upon all property within
City subject to taxation by said City (except certain intangible personal prop¬
erty, which is taxable at limited rates), without limitation of rate or amount.
term
to
1963
.
1,000,000
■X
said
;
;
Price
Due
1,000,000
taxes for the
the Smith, Barney
& Company Turnpike Bond Index
averaged out at a 3.91% yield.
On Jan. 4, the Index averaged at
a
3.83% yield. This represents a
market rise of about ; 1% points
during this brief period.
This general category of bonds
.
be invested in bonds which are
eligible as security for deposits of public
may
SECURITY—These bonds, issued under provisions of Title 4, Division
Chapter 4, California Government Code, for various municipal improvement pur¬
poses, in the opinion of counsel constitute valid arid legally binding'obligations of;
the City of San Jose,-and said City has power and is obligated to levy ad valorem
well. On Dec. 7,
continue^
funds which
PURPOSE AND
year-
issues'; continued
revenue
for other
Moving Higher
the
lend;
California
or
6
1,000,000
:
4,
the
/
,
,
.
Yield
1,000,000
.
to
added)
6%
1,000,000
;
.
Ingen & Co. group!
yieldTfrom 2.50% to
Scaled
be
;
Rate
Amount
$1,000,000
legal investments
banks and in California for savings banks, subject to the
the amount of a bank's investment, and are likewise legal in¬
upon
Coupon
•
are
legal investments for savings banks, and are
moneys in, California.
/ YYVv'JvT ;;
\.vj;
$6,000,000
Sacramento
B.
in
,
"
for savings
legal limitations
iy Wednesday's final issue of note
v"
1,000,000
LEGALITY; FOR INVESTMENT—We believe that these bonds
presentlv available.
involved
interest to
y:
."
•
by the Halsey, Stuart & Co. group.
Scaled to yield from 1.70% in 1963
to
AND YIELDS OR PRICES
of
net interest cost made
(3.085%
AMOUNTS, RATES, MATURITIES
(Accrued
traffic
»
closed-end
«
/
turn¬
pike bonds represent splendid in¬
vestment opportunity. The Ohio
"Turnpike has turned in a! good
.
Reynolds & Co.
'Y*
William R. Staats & Co.
■»'
''T
•
A. G. Becker & Co.
*•"-'-V"
Hayden, Stone & Co.
Incorporated
■
Commerce Trust
Incorporated
E. F. Hutton & Co.
Company
.
Wm. E. Pollock & Co., Inc.
Kansas City, Mo.
Dempsey-Tegeler & Co., Inc.
A. G. Edwards & Sons
Federation Bank and Trust Co.
,
Wertheim & Co.
Incorporated
Stone & Youngberg
Taylor and Company
First National Bank
J. B. Hanauer & Co.
•
December statement. Interest
,1.43
■earned
times
against "1.22
times
December
for
/"
times.
J. A. Hogle & Co.
;
Johnston, Lemon & Co.
Kalman & Company, Inc.
1960.- For
the year 1961 interest was earned
1.84
'V '
X
was
'
Irving Lundborg & Co.
Lyons, Hannahs & Lee, Inc.
in St. Louis
v
Kenower, MacArthur & Co.
Roosevelt & Cross
Lawson, Levy, Williams & Stern
Shuman, Agnew & Co.
Wells & Christensen
Incorporated
-•
New
Toll
Bond
Financing
Scheduled
-
*
v
to
,
Delaware; and
make
Maryland
separate
plan
offerings ' of
$28,0.00,000
and
$78,000,000... toll
.highway bonds'in late February.
,The combined highways will run
..
from
'. Bridge
the
to
Delaware
the
'.
Memorial
Baltimore Tunnel.
.The $106,000,000 dual offering will
be made through a group headed
by. Alex. Brown & Sons of Balti;
more,
Maryland.'
A. Webster
Dougherty & Co.
Third National Bank
Field, Richards & Co.
R. D. White & Company
Ginther & Company
Allan Blair & Company
Incorporated
Hooker & Fay, Inc.
Stranahan, Harris & Company
Boland, Saffin, Gordon & Sautter
Nashville, Tenn.
National Bank of
Washington
<
-
The National Shawmut Bank
Brush, Slocumb & Co., Inc.
Stockyards National Bank•'
*
of Boston
■Xr;;----!,-I. L. Brooks & Co.
r: Irving J. Rice & Company
Incorporated
A
January 11, 1962
Stern, Frank, Meyer & Fox
C. N. White & Co.
Incorporated
circular relating to these
'
""V, other
—A-
bonds may be obtained from any of the above underwriters,
underwriters not shown whose names will be furnished on request.
as
well
as
currently
the
ment firm.
also boasts
1868,
third generation in its ranks.
a
Henry
of Eisele &
asso¬
was
from
Co-incidentally, the head office
at
Waterbury
Bigham,
young
grandfather,
branch
decessor firms since 1910.
the
James
Bigham's
York
New
of
manager
and
9
-
Bankers Trust Co., The First Na¬
tional Bank of Chicago, Blyth &
&
(173)
when
Conn., 68 Centter Street, office of
.
major members
as
.
WATERBURY, Conn. —The third
generation of. the Bigham family
to
serve
with
the
Waterbury,
Continued from page 6
&
.
Joins Eisele, King
Tax- Exempt
N. T.
.
Sutro & Co.
invest¬
The Commercial and Financial Chronicle
(174)
10
invading
FROM WASHINGTON
Steel Production
other
by
Electric
bill
revision
the
before
+ + The State of V t
House
clude
electric
forms
a
The
First
Monthly
Economic
Smith, Barney Co.
National
City
Bank's' including
perhaps
and ported
cars,
may
Letter of Business
Conditions states
that
mains for eventsl'to write. But
fhe new year has momentum of
an auspicious
beginning, with a
been elected
Smith,
expansion that leaves little doubt
among business analysts that we
,
to
about
are
set
records
new
in
most departments of economic ac¬
*
tivity and in the performance
with
organized
were
beyond their original purpose of
of
bringing electricity to the farmers
and are now in the public utility
aid
the
the form of
in
subsidies
Federal
cooperatives
REA,
the
long-time, low-cost loans to speed
building
of
rural
electric
The
lines.
their
bought
co-ops
rest
cooperative.
changing significantly. Under the
Roosevelt, Truman and Kennedy
rvnlinioc
tVio
nn
lnnsJpr
policies the co-ops are no longer
serving
only
rural
customers.
aid
the
arp
2%
of
£jeg
serve
n
while
they are expanding into
suburban,
city
and
industrial
'
•
i
.
...j
same
paying
State of Illinois
tioned Mhe
Illinois
the
-
Y-'.:.',,,:
have
Government
Federal
to 4V2 %
at 2%
subject
Now
tricity
4
pays
by
the
York
items
"
uems*.
of the year finds the
catching its second wind
after a short pause that had inter¬
rupted the first phase of rapid re¬
covery from February to August.
The
'
Commerce
to
After
Officers
in a
September
October
-
movement,
backed up by rising
flows of new orders, promises suc¬
cessive new peaks in activity in
are
President and
B. Crow, Sec-
Crow,
Treasurer; and D.
the
"lull," partly explained by auto¬
mobile strikes, the expansion has
resumed. The pace of advance is
Broadway, slower, it is true. But the forward
engage
business.
turn
economy
TlTP
115
at
City,
S.
Thomas
peti-
the months ahead. The
most vital
Thomas S. Crow was for- factor has been the revival in
rvn™*an officer of-Pistell, Crovsfy consumer spending. In December,
throngs
of
Christmas
shoppers
gave visible evidence of the con¬
,
»
„
.
~
sumer's mood as holiday sales set
J. L. Krimm Opens
retary
merly
to
the
regulations
same
records
lie3 Thfwluidlmpte3 te "ai
t
lal
^rimm
limitations
than half of the elec¬
sold
A .u®
business
nies. This
for it.
more
will be resolved.
•
school
"
from the Federal Government and
the
ofBces
securities
utilities in
investor-owned
~>The
New
that
taxes
the
high
Inc. has been formed
Crow & Co.,
andottlrtaeta'exempt^
its money
Owatonna
r
_
money,
time they are
supply the bait," he said.
invading territory served
by investor-oymed utilities which
do
not
enjoy
the cooperatives'
advantage
of
Federal1 subsidies
gets
,
Opens in N>Y.,C.
being lured away
are
increases
on
is widespread
wage
there
But
ing in government and among the
public at large, these problems
vlUW wUU.j .Lilt/.
[
government
at the
actually
areas,
REA
John W. Stodder
Di-
AafdT(^Af"
lose these
may
i
cheap
by
the REA,
The
>
a
would
that
cooperatives
would imp
se
the-cooperatives
on
prevent
them
from
USSIER CITY, La, - securities
James L.
is conducting a
tffrom
offices
at
across
Coming
pickup in
the
country.
top of the strong
auto sales which ap¬
peared in October, this perform¬
ance
gave assurance to business¬
men
that
higher
production
targets would
be • supported by
expanding
demand.
Industrial
production climbed to a new peak
in
November,, and
presumably
pushed further ahead in Decem¬
ber.;-It is a striking commentary
2420
Tulip Street.
on
.
This announcement is not
an
offer of securities for sale
solicitation of an offer td buy securities.
or a
January 11, 1962
New Issue
on
r
-
Natural Gas
First
"j
the mildness 6f the latest busi¬
recession
ness
$30,000,000
.
,
■
"
•
that
the ; Federal
Reserve Board's
.
,
.
•
_
v
im-
-
seven;
Steel mills, reacting to increased
demands from the automobile and
other
index, rising from
102 in February to 114 in Novem¬
•,
ber, averaged 109 for
point from 1960 ancfa
Pipeline Company of America
1961, up a
record.
new
Expansion in Retail
Mortgage PipelinHjl^nds, 4%% Series due 1982
The.,
sharp
Trade
rebound
stepped
question
that
mark
up
operations in the early /
com- >
panies reported a growing volume'
of orders, as protection against in¬
creased requirements and the haz-.
ards of a strike at midyear.
/
Apart from
•
tion
of
visible liberaliza-,
a
buying policy in the
a
case
of
steel, business continues to con-;
trol ^inventories
closely. : While*
have been rising since last
spring, * the
increases,
broadly:
speaking, have not been out * of
line with expanding sales volumes.stocks
.
"
The
Commerce*1
of
Department
estimates, 011 the basis of its regu-'
lar quarterly survey of manufac¬
turers, that factory sales will in¬
crease
1%%, seasonally adjusted,
first quarter of 1962 over"
preceding. quarter. ' At
the*
same time, manufacturers plan to
add roughly $1 billion to invent
the
in
the
tories
during the first quarter. <
,
Businessmen,; while, concerned
over the
competitiveness of mar¬
•
kets and the difficulties oiKmain-
taining profit margins, have been
encouraged to step up their plans
for purchases of new plant and
equipment. The
the
SEC
and
latest
the
by
survey
Commercd De¬
partment shows that capital ex¬
penditures for tfiePfirst quarter of
1962
were
scheduled at
a
season¬
ally adjusted annual rate of $36.5
billion, up 2% from the fourth
quarter and 6% above the total
of
$34.5 billion for
1961* as a
whole. The projected rate of ex¬
penditures,- while below the third
quarter 1957 peak of $37.8 billion,
points to a higher rate of invest¬
ment than had been anticipated
earlier in private surveys.
Bank
Clearings Were 1.6% Below
Corresponding Week
Last Year
Bank
clearings last week showed
decrease compared with a year
a
Preliminary figures compiled
upon teler
graphic advices from the chief
cities of the country, indicate that
•for the week ended Saturday, Jan.
6, clearings for all cities of the
ago.
by the Chronicle based
United States for which it is
sales in recent weeks has erased
large
industries,
weeks of December. The steel
retail
of
steel-consuming
including appliances, capital
goods,
and .defense
equipment,'
hope that, with better understand¬
ment, is
communi-
the
of
x.
dustries that
from
loans
we
±
i
**
citizens
"The
of
squeeze
policy of assisting rural
of
co-ops in their raids on industrial *«raduatk>n snecialtv
customers by offering 2% loans vfraduatlon speciaAty
to companies willing to move and
•
.N
build a plant to be served by a
J?T
Today, virtually all farms are
electrified, and the character of
the rural electric cooperatives is
With
the persistence of bal¬
of-payments deficits, mani¬
fest difficulties of rebalancing the
Federal budget and gaining lee¬
way for need tax reforms, and the
are
ance-
rea
of the region.
r>n_nno
nity
in
fi¬
departr
nance
350,000
reach
x
million.
commu¬
profits.
corporate
has called attention to the
pany,
at
low
wholesale rates
private utilities serving the
power
from
vividly
the minds of the business
fi rm>s
•
business. Allen Van W'yck, President of the Illinois Power Corn-
the
Those most
problems.
member-of
..
of
the economy as a whole. There are
••
Under
Failures
'
the economic record of 1962 re-
^
.
Index
Commodity Price Index
Stodder V.-P. of
06Vllv^,
Production
Business
REA
powerful political lobby.
organized under the guidance of
the REA goes to other than farm
_
,
government agencies that have customers.
Four of five new
erown" to"the &point where they customers or new members being
Ire now practically unmanage- gained by the co-ops are urban.' ^n
a
Vice Stotor has
President
able.
Originally set up a quarter commercial or industrial users
Barney & Co.,
of a century ago, its proponents
Some co-ops are applying for Inc., invest¬
maintained
its
purpose
was
to huge REA loans to build-their ment
bankers,
bring electricity to farmers and own
generating plants.
Three 20 Broad St.,
otxiers
others in rural areas who could
in
luicti
cticcto
vvnu
Southern Illinois co-ops, for ex—
Ynrk
not
get it from private power ample, have obtained a, $25 mil- g-.®„w
*•
companies. • At. that time only lion loan to finance'construction
" was
about one in every ten farmers
of a plant at Spart, ' Randolph announced by
had electric service.
Revenue of County. . ; • / .• ;
H a- r d i n
the private utilities did not justify
These activities have brought chairman of
vast
expenditures for lines
to strong protests from the investor-'
Board
of
serve
all potential customers in owned companies. They point out
Electors
the sparsely populated rural areas,
that the co-ops are going far
Mr Stodder
Electrification Administration is another one of those
Price
Auto
The
co-ops.
Trp.de
Food
cooperatives but it is
doubtful if it will be passed to in¬
The Rural
uvciuiiiciic
Retail
TRADE and INDUSTRY
item taxing
BARGERON
Output
Carloadings
Ways and Means Committee is an
...Ahead of the News
BY CARLISLE
Thursday, January 11, 1962
.
.
..
tax
pending
now
-
the
Part' of
.
served
areas
V.
utilities.
.
.
to
sible
obtain
1.6%
was
weekly
pos7
clearings
below those ol>the
coiv
had
responding week of last year. Our
preliminaray totals stand, at $29,the underpinnings of the current
.193,067,218 against $29,661,088,683
business revival. Throughout the
for the .came week in 1960.
Our
spring, and summer despite the; .comparative
summary
for
the
fact that personal •, incomes were
leading
money
centers for' the
rising steadily, consumers were week follows:
•*•/,/;:;
troubled business observers about
Price 100%
.
j
plus accrued interest from January 1, 1962
.
v
:
cautious
in
spending
contracting
debts.
and
money
with
But,
Week End.
the
be obtained from such of the undersigned (who
underwriters named in the prospectus) as may legally offer
these securities under applicable securities laws.
Copies of the prospectus
l
the
may
estimates
which had
sonally. adjusted,
sales,
-
:
C
\
ment
ber
The First Boston Corporation
Blyth & Co., Inc.
,
In
Glore, Forgan & Co.
ran
Harriman
Ripley & Co.
Incorporated'
Kidder, Peabody & Co.
:•
v
■
in
.
*
•
Incorporated
-
Lehman Brothers
'•
.
Smith, Barney & Co.
\
■
Merrill Lynch, Pierce, Fenner & Smith
■
;
■
'
<:v
Incorporated
,
'
,
the
•
days
of
reception
model
a
•
of
5.2
813,748
+
4.2
A
second
demand
has
automakers,
to
Continue
Second Quarter
wave
-
of
been
supplied
appliance
by
makers,
and other large users of flat-rolled
products. Demand from general
users, those who consume the "wide
range of steel products, has lagged.
change
the
Demand
quarter, The Iron Age reports.
Up to now, the force in the steel
Decem¬
"
;
During
cars.
ended
Dec.
cars
10,
This demand is
new
that
preceding
1961
proximate
mon
year
the
sales
moved
the -corresponding
any
of
+
ond
attitudes appeared in
American-built
Stone & Webster Securities Corporation
Incorporated
sign
1,066,000
now showing signs
reviving and will get stronger,
the magazine says.
'
The
Iron Age cites these
ex¬
amples as an indication of the
pattern of steel ordering:
'
of
+ ;
A. G. Becker & Co.
earliest
public
Incorporated
Dean Witter & Co.
Decem¬
ended
7.0
1,121,000
inventory
buying will prevent the steel marr
ket from tapering off in the sec¬
topped all
good margin.
a
weeks
consumer
1962
LazardvFreres & Co.
in
4.0
-I-
Through
.
16, department store volume
ahead of 1960 results by 5%.
The
Goldman, Sachs & Co.
•
$218
by
years
the four
ber
Eastman Dillon, Union Securities & Co.
Steel
sea¬
Christmas sales
previous
Incorporated
•
»
White, Weld & Co.
Kuhn, Loeb & Co.
*
averaged,
maintained
.
—
retail
that
gain of 6%. The improve-
was
as
%
1901
.1,288,935
Boston
billion a
months, in
November reached $231 billion a
year, a
Halsey, Stuart & Co. Inc.
Dillon, Read & Co. Inc.
___
Philadelphia
in the first nine
year
;
1,379,8.00
848,752
.cmcago
better^than-normal expan¬
sion in trade. The Department of
/ Commerce
1962
York__ $16,410,174 $17,098,279
New
joyed
are among
—(000s omitLed—-
;Tqp
arrival ,of autumn, merchants en¬
60
of
•
ahead
period
of
.
and indicated ;
at
r
deliveries
5.6
estimate
would
ap-
million; The
com¬
is
sales,
that
1962
Sheet mill produpts are already
capacity, while orders for other
products
are
running about
of industry capacity.
60%
Plates, struc¬
tural, bars and wire are moving
■
.
Volume
<r
6124
Number
195
but well behind the drive for
products.
up,
flat-rolled
There is
firm indication
no
now
of when this second wave will hit.
It
from
Jan.
could
in
in
come
March.
into
1
Or,
stronger
a
up
1962 the best year
swells.
is
Here
spending
ery, up
Steel
in
24%; Machinery, except electrical,
19%; Fabricated metal products, up 11%; Electrical machin¬
that
states
make
not
that
out
a
boom. It
of
the
deceiving
somewhat
1961.
boost
believes the increase
not
be
discounted
*
too
11
The year-end optimism of scrap
continues to b^ reflected
higher asking prices.
Steel's
dealers
in
is
because
much, since, in part, it reflects the
steelmaking scrap price composite
spreading of optimism in business
rose
and
points
gain
it
the low side in
on
was
But
should
expenditures
size
the
20%
a
metalworking
does
up
surge
(175)'
2%; Transportation equip¬
ment, down 4%.
since .1957 when
except
transportation will gain: Primary
metals, up 46%; Instruments, up
it
.<
Th% Commercial and Financial Chronicle
$5.3 billion was spent.
All
major
segments
February and March after some
minor
•
building
gradual,
be
may
...
ton, the highest price since Octo-
industry
year.
at
the
turn
of
the
$2.6.7 last week to $38 a gross
>
■
Continued
on
page
27
—
analysis
one
steel
of
shipments for the first half: Ship¬
ments should hit 80% of capacity
in January, 85% in February, and
90% in March, and for the second
quarter: The 90% figure would be
made up of 100% demand for light
flat-rolled
and
other
the
80%
an
rate
for
the mix.
products of
The Iron Age discounts the pos-
that
sibility
could taper
quarter.
have
the
.■/
demand
strong
off early, in the second
may
attempt to
inventory in by May,
Users
their
but
delivery on time is unlikely.
Ingot production could ease
slightly,
but
shipments
stay strong right down
June
deadline
30
steel
on
\
should
the
to
labor
negotiations.
On the basis of 1959
experience
ANNOUNCES
makers first processed orders that
remained
on
the
books.
Con¬
August
orders
resuming
Steel
...
had
hard
orders
booked
at
analysts
.
.•-■■ r-.-
■
?■
':V
DIVIDEND
NEW
A
:•;
* ''
"y;
•
;-\VV4^:'
!• \ :J' > •. 'i
'
SAVINGS
:;;
POLICY
A-
♦
'?■'*
W
•; *
•:
LONG-TERM
BENEFIT
■■■"
:-!v 'f''
-J.
SAV
First
a
Are
Quarter Forecasts
New
TO
time
Upping
*.,■
:
V;:/
FOR
BANK
deliveries.
Analysts
tion"
.;• -'.»
'•
who had not placed July-
sumers
SEAMEN'S
THE
steel users are already indi¬
cating they want to order for July '
and
August. This reflects poststrike
experience; when
steel¬
some
for
such
are
steel
.
being
are
The Board of Trustees of The Seamen's Bank for Savings
rapid rate that
a
upping their produc¬
.forecasts,
Steel
for the
magazine
plans to
pay
dividends
quarterly period beginning January 1, 1962, at the following ratesi
reported.
First
quarter output is now exnpected to be about 31.2 million
ingot tons, about 15% higher than
-
a
4
that of the quarter just ended (27
million tons).
,r|ir
Mills
backlogging orders.
They are not refusing any busies
ness from regular
customers, but
they
are
%
on
'
Leading
mills
in
the
Midwest
sold out for January on hot J
rolled, cold, rolled, and galvanized
sheets. In the East,
cold rolled
sheet deliveries, are being quoted
at three to five weeks, galvanized
six
at
weeks
ing furnaces that
the
This
new
,
so
3^7o for
one year.
the continuance of favorable
are
based
our
faithful depositors whose steady and
on
«:;
reward
important to their own future prosperity as
well
as an
/
aid
curbing inflation. In addition, it will provide further incentive and
encouragement to save more, more
reactivat¬
idle
regularly.
during
holidays.
Ingot output was
by Steel at 2,225,000
gain of 5.7% over the pre¬
ceding
week.
will
Output
go
higher this week.
,
Money deposited on or before
JANUARY 15
a
With
expected, \steelmen
dilemma:
Should
facing
are
dividends from
earns
inventory building start¬
after the
a
they
meet this
first quarter
demand by reactivating
marginal
surprisingly
facilities
or
by raiding
stocks
peak, they
QUARTERLY
grace,
dividends paid
/
Day Of Deposit
of
material?
If
they dip into semifinished
inventories before remand reaches
better
days of
from
strong
semifinished
JANUARY 1
COMPOUNDED
ing six to eight weeks earlier than
its
a year
boosted
by
were
the nation in
to
estimated
tons,
is
before January 16, 1,961.)
Or
deposit less than
dividend policy will
consistent saving
beyond.
mills
Last week, steel
production sharply
and
;
on
anticipated rates
earnings.
are
sheets
deposit since
These
-
-
deliveries.
total quarterly dividend. (This rate includes 3^4%
money on
starting to quote longer
are
year
regular dividend plus Va% special dividend foKmoney continuously lu'r
may
stocked
JOLLY
lose business to
SAILOR
to everyone
competitors.
of $5
If
they put obsolete equipment
into use, they'll do violence to
or more
who
—
as
COIN
BANK
FREE
opens a new account
long
as
the supply lasts.
profits.
Steelmakers
are
doing some¬
thing about the problem of obso¬
equipment, a Steel magazine
forecast on equipment
expendi¬
BANK
Send for free
lete
BY
MAIL
postage-paid envelopes.
tures reveals.
The
steel
industry's
expendi¬
tures this year will leap a
whop¬
ping 51% over those of 1961. Ma¬
jor
equipment
investments:
^4
21%
will
be put into equipment mak¬
ing flat rolled steel; 10% for blast
SEAMEN'S BANK
SAVINGS
for
•
furnaces;
10%
equipment;
product
for
9%
mills;
steel
for
9%
melting
structural
for
materialv
handling equipment; 8%
30 Wall
for
blooming and slabbing mills.
metalworking industry
1962 will
average
of
1961.
Such
increase
546 Fifth Avenue at 45th
i
i
.
.
$4.2
the
total to
billion
last
$5
billion
year),
.
will
(vs.
making
•
I
;
•.
'
'
it
Street, New York 36, N. Y.
'
Hours, 9 A.M. to 3 P.M. Mondays through Fridays • Open Thursdays till 6 P.M.
■
boost
Street, New York 4, N. Y.
Hours, 8:30 A.M. to 3 P.M. Mondays through Fridays^Open Thursdays till 6P.M,
in
20% above those 1
an
Street, New York 5, N. Y.
Beaver Street at New
Equipment expenditures by the
whole
tf
Chartered 1829
'■
■
:
*
•
j''
Member Federal Deposit Insurance
t
Corporation
bpMfi;.,
The Commercial and Financial Chronicle
the past decade.
PUBLIC UTILITY
kwh
to
Average Btu per
./Thursday,
i
.
January 11, 1962
Complete Florida Turnpike Offer
dropped from 14,437 in 1951
11,453 recently; and cost of fuel
from
27.3c per
million
declined
SECURITIES
BY OWEN
Btu
ELY
to
25.9c.
Larger
generators
being installed and the
major unit, scheduled • for
1964, will be 200,000 kw. Heavy
transmission lines are being built
are
now
next
in
operatcontrolling Northern
States Power Company of Wisconsin, and small real estate and
hydro subsidiaries.
Twenty-five
years ago there were 30 companies
manufacturing centers in this
in the NSP system, most of which country.
While the area used to
is
combined holding and
a
five-state
a
(including
area
etc. The electronics and Iowa) to form a "grid" which
chemical industries, new in the should improve future efficiency.
The
Pathfinder
Atomic
Power
area in the past few years, continued to expand and the Twin Plant (a 66,000 kw boiling water
Cities are now recognized as one reactor) ' is expected to ' 'go' criti¬
cal" this summer. } >'
■
;•
of the fastest growing electronics
ment,
Power Company
States
Northern
to interconnect with other utilities
Company (Minn.)
Northern States Power
ing company
,
Northern States Power is among
the leading utilities, which have
a d o p t e d • electronic
the be considered a * slow growth
accounting,
Wisconsin company must be main- section, the Picture has changed with a centralized computer center
tained in order to do business in and it reported the third highest handling customer billing which
that
state,
the
present
set-up percentage increase in population was formerly done at 13 locations.
The first vacuum tube computer
seems
likely to be maintained. *n the decade ended with 1960.
System revenues approximate $193
Northern States mower's large has already been replaced with
newest
transistorized
com¬
million and are expected to reach light and power sales are about the
$209 in 1962. Revenues are about 47% residential and rural, 23% puter, and the original high-speed
84% electric, 15% gas and 1% commercial, 25%
industrial and printers have been replaced by
miscellaneous.
5% miscellaneous. About 20% of newer and improved machines.
-
eliminated;
not
been
area
served is large, with a
electric sales are from customers
population of 2.4 million in various sections of Wisconsin, Minne-
in the food industries 40% from
customers m a well-diversified
have
The
and
sota
the
Dakotas.
list of manufacturing industries,
However,
City metropolitan area
accounts for
about half the
small communities
St.
the
and
Paul
popu-
The company's construction
farms.
or
Minneapolis
indicates
Sram
are
pro-
expectations
company's equity ratio is
which, seems to be a
normal
pany.
and 40% from stores, offices,
schools, etc. Non-fobd industries
lation served and provides some include printing and publishing,
53% of electric revenues and 78% machine shops, rubber tires, reof gas.
About one-fourth of the fngerators,air-conditiomng equippopulation served is in small cities ment, control devices, oil refining,
and the remaining one-quarter in chemicals, electronics, etc.
Twin
the
The
around 33%
of
in
percentage for the com¬
President King indicated,
recent
a
talk
before
the
New
York
Society of Security Analysts,
that equity financing appears un¬
likely until late 1963, or in 1964.
Regulatory set-up in
state
is
area
is
There
the four-
somewhat
"commission
mixed.
regulation
(left), Chairman of the Florida State Turnpike
John M. Hammer
Authority, receives checks for $151,653,277.78 from Fw H. Brandi,
in Wisconsin and North Dakota but
revenue
closing largest
President of Dillon, Read & Co., Inc., in New York
not in Minnesota or South Dakota;
offering of 1961.
bond
c?n ,lnufc^r,growth at the rate In Minnesota/ home rule charters
? ..a
ut 7 1% per annum. Popu- give regulatory powers to certain
lation of the Twin City area is cities, the most important of which
Honeywell, General expected to increase by 430,000 is St. Paul. It would be easier to
headquarters for
number of
a
large companies including Minnesota Mining and
Manufacturing,
Minneapolis Mills,
Pillsbury, International
Milling, Gould National Batteries,
during the 1960s. The company's
construction program is estimated
as follows (in millions of dollars):
Seeger-Whirlpool, Waldorf Paper
Products Co., Muhsingwear, Cargill, Peavey, Federal? Cartridge
and Bemis Bag. New plants with
an approximate value of $233 million
were
reported
construction
in
to
the
be
1961
homes
four years.
63
or
1964
60
ules
1965
under
—including automotive, glass,
possible that a state commission
may be set up in the next three
*
ing
1963——.——
iQ, 1961
area
45
pany
the 375 communities served
in that State, and it is considered
J>47
-ill
-1962
56
—-
About half
now
All gas rate sched¬
contain
purchased
gas
adjustment provisions which auto¬
of
System generating capacity has been installed in
ce-
has reduced the house-heat¬
deal with a state commission than
with
matically adjust for increases in
cost
of
purchased gas;
The
com-
and it now has
heating their
1.5c
customers
400
electrically. It is currently
earning about 6.3% on original
this
and
cost
tinue, with
in
is
expected to con¬
some
minor reductions
possible on a
considered
rates
earnings
rate should rise to 7 or 7%%.
Share
earnings
showed
some
moderate growth in 1950-54—from
93c to $1.07—but in 'later years
have
increased
more
rapidly,
reaching an estimated $1.55 in
1961.
if
basis
voluntary
of
the
the
to
The com¬
pany does not use accelerated de¬
preciation. Interest on construc¬
$60,000,000
the
past four
years
present $1.18 rate.
tion amounted to about 5c
New York
Telephone Company
in
and is
1961
between
several
At
Due
the
over
next
years.
current
the
price of 32^
1961-62—38%■-27%)
the stock yields 3.6% and sells at
January 1, 2002
(range' for
times earnings.
about 21
Pri ce 102.309% and accrued interest
8c
Earnings for 1962
are estimated in the neighborhood
of $1.60.
Refunding Mortgage 4/^% Bonds, Series M
January 1, 1962
share
a
expected to range
and
5c
Systematic Plans
Formed in Houston
..;'Y
•>/$.«!
■«
offices
Bank
to
done
This
announcement is not an
offer to sell or a solicitation of an offer to buy these securities. The offering is made
only by the Prospectus which may be obtained in any State in which this announcement is circulated from
only such of the undersigned and other dealers as may lawfully offer these securities in such State.
H.
Mr.
A.
the
subject
of
was
Rockwell's
1961,
11,
p.
on
foreign
taxing
*'
I C
-•
-
in
the
National
Texas
Wil¬
Doherty, President ;~Jasepr
F. Stephens, Vice-President; Keith
W.
McClendon,
Secretary;
and
Robert D. Gardner, Treasurer. All
Officers
are
fred L.
officers
are
Fund
of Texas
Man¬
agement Company.
Houston Inv. Men
To Hold Outing
HOUSTON, Tex.—The Stock and
Bond
its
Club
annual
Houston
of
will
hold
outing March 2 at the
Champions Golf Club.
Lockwood With
F. I. duPont Co.
Lockwood
with
become
has
Francis
I.
as¬
duPont
&
inj ustice.
article of Dec. 21,
„•*•"
-
sociated
CORRECTION
inexplicable
•
Building.
Frank
.
An.
>
HOUSTON, Texiijf —'Systematic
Plans, Inc. has been formed with
raised
have been
Dividends
each
in
Dated
to
rate
some
Co., 1 Wall Street, New York
City, members of the New York
Stock Exchange, in the syndicate
department of its underwriting
division, it has been announced
by A. Rhett duPont, Senior Part¬
ner.
Mr.
HALSEY, STUART & CO. INC.
BACHE
A CO.
A. G. BECKER &,
CO.
DICK
&
MERLE-SMITH
BROTHERS 4
BAXTER 4
L. F. ROTHSCHILD
HUTZLER
COMPANY
SHIELDS 4
COMPANY
WERTHEIM
4
4
4
COMPANY
Gordon
CO.
HANSEATIC CORPORATION
WEEDEN
Y
&
CO.
GOODBODY 4 CO
CO.
IRA
HAUPT
with
BALL, BURGE 4 KRAUS
J. BARTH
and
4 CO.
BLAIR 4 COMPANY
E" FBURNS BROS.
CO-
J.C.BRADFORD 4 CO.
WM- E" POLLOCK &
COFFIN 4
the
BURR
The
earnings.
CO-. INC.
SPENCER TRASK 4 CO.
"neither-nor"
ROBERT GARRETT 4 SONS
"'ESSSt1..™?0,
COURTS & CO.
GRANBERY, MARACHE
SCHWABACHER 4 CO.
■Y.;.'.
should
words
have
not
appeared in the summary preced¬
SHELBY CULLOM DAVIS 4. CO.
ing
4 CO.
GREGORY 4 SONS
should
v
"
e
grading
.
.
.
sentence
have
read
with
reference
to what our U. S. tax law
STERN BROTHERS 4 CO.
SWISS AMERICAN CORPORATION
.
The
article.
the
that it "needs
January 10, 1962.
alternative
Formed—
Co.,
has
been
formed
37
Wall
Street,
at
York
<
.
vertently
.
requires
updating not dcfuon-
." and not, as it inad¬
appeared
private financing.
Gordon is
"neither
dating nor down-grading."
—
firm
which
underwriting
ment
and
4DENTON, INC.
&
Bruce
Harold A. Rockwell
WILLIAM
Glore,
syndicate
and
1957-1961
City, a financial con¬
sulting firm, specializing in public
CO.
INCORPORATED
BACON, WHIPPLE 4 CO.
Co.
offices
New
&
from
Financial Consultants
INCORPORATED
NEW YORK
its
Co. Inc.
Gordon
R. S. DICKSON
with
was
in
prior to that with Halsey, Stuart
&
EQUITABLE SECURITIES CORPORATION
LADENBURG, THALMANN 4 CO.
SALOMON
Co.
&
department
INCORPORATED
FRANCIS I. duPONT 4 CO.
Lockwood
Forgan
assists
firms
bankers
in
\
securities
invest¬
and
the
origination
of companies
investigation
desirous
.
Principal of
a
of
"going public."
great many smaller un¬
derwriting firms have neither the
Since
time
a
nor
inclination
companies
in
to
out
seek
of
need
public or
private capital, Gordon & Co. will
look for qualified companies and
up¬
recommend
Ed.
writing
them
clients.
.
to
-
-
under¬
our
-•-<.
-
;•
Volume
195
Number 6124 i
.
Commerciat and Financial Chronicle
The
,
(177)
contemporary
Is Free World Financing
Growth of Communism?
from its
tries
power
history that coun¬
West, are actively
assisting in the establishment of
a
regime which is bound to ex¬
of
propriate those whose capital and
enterprise have made the coun¬
tries'
-
.
By Paul Einzig
*
.
Britain and the U.S. A.
,
Communism
in
underdeveloped
of*the-Gama" predilection for!
\
extending economic aid to
those
political
independence
business
underdeveloped countries
claims
prevent economic chaos in
•
v
,
s
as
•
the
expulsion
the only
are
for Communism's
of
similar
serves
The
dual
colony
clubs:'Ex-President Kennedy and
ex-Prime Minister Macmillan met
pendence forthwith, regardless of
its state of preparedness for be¬
in'
coming independent, and regard¬
corridor
a
Prison
in
of
the
Lubyanka
while
Moscow
escorted
that
less
the
of
back to their respective cells after
an; ordeal
of questioning. Having
instances
duly - commiserated with
other, one of them—never
tions
which
each
mind
remarked "Anyhow we
have
nothing
to
reproach;
our-
demands
,
should
be
indepen¬
granted
:
fact
inde¬
-
in
that
American
a
public
in
their
capacity of private investors
in backward countries and of taxr-
who have to shoulder the
payers
burden
those
of
defaults
countries,
many
heavily
for
means
independence
their
to
in other countries.
achieve power
inroad.
LONDON, ENG.—-The following
story
is circulating in London
dence
consolidating
regimes
adopting
sfttitude
are
likely
sighted
policy,
will
the
loans
on
pay
present
to
very
short¬
fate
referendums
of
these
decide
at
$4
warrants
of
share
a
A
The
transferable
and
chase
at
time
any
cluding Jan.
of class A
rant
10,
at
price
a
of
markets.
are
rectifiers
used
in
Beckman and
this
selves with.
vious
we
—
Dr. Arnold
respect.
has
It
war¬
per
meeting of the Investment Ana¬
lysts
Society of Chicago being
Net proceeds from the financing
held Jan. 11, at the Midland Hotel.
share.
case
been
the rules."
ob¬
dll
along that the granting
independence would mean the
establishments of
a ; Communist
State
Criticizes "No
One
Strings" Aid
these
of
rules
which
are
rules
pictured in tne above parable is
eral
that
munist
uncommitted
nations
given aid without
The
attached.
States
vest
considerable
a
strings
any
decision
United
must
of
h.e
Government to in¬
into
amount
the Volta River scheme notwith¬
standing
the
attitude
of
increasingly
hostile
mainland.
Nevertheless, Britain was pressed
relentlessly
to
conform
to
the
liable to bring about the situation
be
American
the
on
in
of democracy,
election
Dr.
Ghana
and the gen¬
the
brought
Com¬
Jagan into office.
in
so
British
THE
As
Guiana
is
having
elected
ment towards the Western Democ¬
troduce
Communism. -It
is an outstanding instance
tyf' helping our potential enemies.
President Nakruma does not
be shocked when it finds
MAN H ATTAN
stroy private enterprise.
the
Ghana
Govern¬
racy,
trouble, to
even
makg^a
secret of his
attitude. He is quite openly proCommunist and is rapidly
con¬
verting Ghana into a totalitarian
dictatorship.., He
relies
on
the
sanctity of the rule that no strings
be attached to
must
sistance to
economic
as¬
undeveloped countries
and
judging by the American de¬
cision," he is not far wrong. The
principle laid down by the ab¬
sence
cf strings in the case of
Ghana will, no doubt encourage
other
uncommitted
nations
"uncommit". themselves
side
of
the
Communist
to
the
on
bloc./
payments
position,
hesitation -it
after
decided
was
in
Jf935.
Their totalitarian regime will in¬
that
Communism
will
secured
tinent.
that
Yet
outcome
is
if many
of the
it
the
and
is
to
bound
principal
is bound to
tent
be
a
local
products
regime.
bring in. a Com¬
it is in it
Once
the)
means
another of the
rules
that • the presence - of
businessmen and tech¬
undeveloped countries
synonymous
with ; "colonialist
Volta
is
River
well
Britain
fol¬
example.-It might as
called an outright gift.
be
If Ghana is
World
hostile to the Free
so
before
even
into
poured
American,
other Western money
British and
is
scheme.
the
the
River
Volta
scheme, it is easy to imagine how
hostile it will be after having re¬
ceived the money. For. then, there
will
be
additional
an
hostile.
being
It
for
reason
will
be
much
profitable to default on the
and
to " expropriate 'any
foreign capital invested in Ghana.
more
loan
>
It would have been much wiser
to
call
Mr.
let him
Nakruma's
and
apply to the Soviet Union
economic
for
bluff
responded
aid.
If
I favorably,
Moscow
it
would
have meant the using up of some
of the Soviet
Union's
economic
and
resources
have
race
or
for
trialization.
had
so
much less would
available for the
been
speeding
If
been
up
Moscow's
arms
as
would
in the
case
opened
of Guiana,: it
the eyes of
backward peoples about sincerity
of
the
Union
number of British busi¬
engineers
etc. > were
to stay and were willing
stay, economic conditions in
allowed
to
would
India
have
Alternatively,
dependence.
"technicians"
sian
their
taken'
ASSETS
U. S. Government
spite of the lesson taught by
this
experience, the rule about
opposing so-called "colonialism"
is
being applied in the case of
Katanga,
cause
with
white
experience
the
though
even
its
.
which: recalls the
Weimar-
inter-war
Republic in
period
is --that
is
Belgians
technicians
$2,483,988,331
•
1,587,779,982
.
'.
;.
.
.
.
563,745,342
.
.
.
Loans
....
243,953,481
4,847,597,675
...........
Less: Reserve for Loans
•
.
•
•
•
•
124,lib,452
•
Banking Premises and Investment in Realty Affiliates
Customers'
Acceptance Liability.
Other Assets
.
.
.
80,462,048
270,524,919
.
.'H
.
98,041,981
$19,051,937,327
LIABILITIES
Deposits
1,875,793,657
Foreign Funds Borrowed
Reserve for Taxes
.
.
P
.
.
.
.
...
5,563,375
....
.
.
44,320,747
Acceptances Outstanding
276,243,016
.
badly
Other Liabilities
Reserve for
110,906,198
Contingencies
Capital Funds:
-/"•/- V.
Capital Stock
21,419,970
....
1/,
,■
(Par Value S 12.50 Per Share)
Si 74,594,425
.
13,967,554 Shares Outstanding of
14,639,071 Shares Authorized
needed.
Surplus
500,000,000
.
and
whose
Undivided Profits
43,095,939
$10,051,937,327
the Central Government of
Congo
717,690,364
Be¬
uncompromisingly
is
'with'whites1, it is backed
up by .the.
by the United
economic "conse¬
a*
Of the
States and
decline
The
/
their
attitude
will
jibo^assets $566,858,210
be
through destruction ^wrought - by
the -United Nations military action. It
is
one
of
the
tragic comedies of
arc
pledged
,/'u b
i
-
j
•
C
11 CX
•;,*/
.
•'
*
.
public deposits and for other
preferred as provided by law.
to secure
purposes^
n"ust and certain other deposits are
Securities with a.book value of $36,105,557 are loaned
of
fate
any
•
.......
State, Municipal and Other Securities
Mortgages
•
hostile to the idea of-co-existence
United
of
Obligations
•
.
popu¬
is all in "favor of continued
lation
production- in Ka¬
•>:
Means Communism - iy: / ~'r- tanga—apart- altogether" from the
■// Another of the rules the appli¬
damage -• already - inflicted * on 4t
the
.
.
In
quence'of
cation
N. Y.
'*>r
Condition, December 31, 1961
Cash and Due from Banks
*
of
of
Rus¬
have
would
place
and
their
presence in key positions would
have
greatly
increased
the
chances of a Communist victory.
Nations.;
-When Granting Independencev
become chaotic
after the achievement of in¬
soon
contention that the. Soviet
help- them.
'
nessmen,
wants
to
Statement
large
co-existence
if
•
it not been for the fact that
Had
a
other
or
/; siv '.,'■ V • '.s:»U
iO
exploitation." This in spite of the
fact that their peaceful co-exist¬
ence
with backward peoples was
an
outstanding success in India.
answer
disappointing
have
.
in
..indus¬
strings had been attached to the
aid,
nicians
jOt
-i tiv'Y
of the
is
game
New York 15,
self-
' of
preservation "s because
it.-is- not
bound by. the rules: of -the game.
Yet
Plaza,
new
the resulting popular discon¬
munist
Manhattan
the
bad crop or a decline in the price
of
Chase
a
there
later
or
1
countries were
genuine democratic
could not last. Sooner
to start with
regime,
OFFICE:
."•/' ,v
natural
and
inevitable
consequence of granting colonies
independence prematurely. Even
European
lowed
HEAD
a
the American Con-,
on
BANK
!■
day
one
logical,,
ticipate to the amount of $45 mil¬
lion
in
the
-financing
of
the
.
W?
de¬
!
bridgehead
some
to•>par¬
Hitler
American opinion will no doubt
-
will ~ have
Although the United States is
struggling with the balance of
CHASE
it
a
case
of "democracy to end
democracy." Neither country will
ever
have another free election,'
any more than Germany had after
O.
William W. Wright
cf
Right to the very end
played the game according to
power
of Beckman Instruments Inc., will
be guest speakers at the luncheon
of British Guiana is characteristic
in
the
Chicago Analysts to Hear
CHICAGO, 111.
share
$4
enter¬
vision sets.
in¬
and
one
and
supplies of computers,
business
machines, missiles, satellites,
tracking devices, radios and tele¬
the
pur¬
for each
common
held,
to
up
1967,
and
Its principal
various types of sili¬
con
num¬
to
industrial
tainment
issuance
holders
for
military
immediately
their
upon
the
entitle
in
manufactures
devices
products
50,000
With
plant and
Bedford,
semiconduc¬
with
offices
commercial,
purchase .of, every .two class A
shares, the company will sell for
lc one class A purchase warrant.
The warrants will be
company,
Mass.,
like
shares.
devel¬
new
of
executive
and
to purchase a
class
of
products, expan¬
manufacturing facilities,
and the purchase or l£ase of new
equipment.
'
sion
the
The
countries.
opment
tor
altogether
apart
will be applied toward the
of
vyorld
& Co., New York
-ity, is offering 100,000 shares of
Semicon, Inc., class A common
Communism. Let democratic elec¬
or
free
S^JBv^Fuller
ber
in
the
Stock Offered
stock
position,
to
ones
underdeveloped countries which
excuse
an
allowing
personnel who
to
the balance
on
Semicon, Inc.
sisted
particularly
—
undeveloped
effect
between
and the Communist bloc.
country"
foreign capital and en¬
terprise. If regimes openly adopt¬
ing that attitude are actively as¬
(2) acceding to premature
(3)
and
technical
and
every
hostile
(1) not attaching any "strings" when
partial to U. S. S. R.'s point of view;
skilled
available.
resources
examples of Ghana and
Katanga
will
give
the
utmost
encouragement to those who in
Dr. Einzig condemns "Rules-
areas.
natural
The
reprobated for unwittingly bringing on V,
are
the
13
to customers
'
,
•
against collateral.
>
Membjer FederalDeposit-Insurance Corporation
OfHCBS IN- GREATER NEW YORK
—
2?
'
•
-•
OVERSEAS
14
The
<178)
cause
they
only
made - 50%
profit when they bought stock A,
and they could have done much
better
if • they
had
been
sold
SECURITY SALESMAN'S
CORNER
stock B.
DUTTON
JOHN
BY
other
day a
proficient client at this sort of
thing called her salesman early
There Is
much in need of
some practical assistance.
Some¬
times, just a word or two, a brief
comment on how to do something,
will clear the fog away.
Other
other
has
Reading
source.
also
his
in
ness
own
how
know
ask
salesman
a
a
sufficient
is
what
some
of
the
piece of advice
could
more
and it applies
do
and
roadblocks
them,
in
better
no
this
beginners
business,
certain
confounding
are
of
readers
are now
securities
they, have
that
and
field of endeavor.
every
the
know
nothing
is
This
than common sense,
in
to
experience
practical, workable,
sensible.
If
has
who
and
need
they
finding
solutions than to ask
more
if
off
you
valuable
his
offers
time
and
She
quite
the
sell-
a
Few
a
ments
decline
these
people
value.
in
Some
she
emotional
about it; but when they get on
the telephone and start to com¬
plain, they are asking for re¬
assurance, or they may even be
unconsciously looking for someone
to
berate
to them
known
for
bit
a
too
are
reasons
The
(being an
sort of thing)
this
until she
down. He didn't say
she
began tg run
anything un¬
"Are
asked,
telephone,
old
let
her to blow
He allowed
off steam
to their sales¬
or
at
her talk.
til
on the
listening?"
replied, "I am
are
you
you
"Certainly," he
listening to every word you are
saying." "Then will you please tell
me," said1 she in a much quieter
tone, "just why did my stock go
some of their
Whatever the
cause
(and
experienced associates who will possibly, a psychiatrist in some
good enough to share their instances would be the only one
experiences with them. It is a who could know) a security sales¬
busy world these days, and the man can't spend
endless time
security
business
is
extremely defending the constant "downs" in
competitive. It is a very fortunate the market and in specific stocks.
organization that has within its When they go up he doesn't have
fold some experienced salesmen
as
many
complaints, except of
who will give of their time and
course,
there
are
even
some
experience to help new men who people who
will complain beman.
be
down?"
they
That
it!
was
he
blood
direcftr
the
There
was
his
let
customer
pressure
honest,
common
sense
time
of
and
planations about
at any time. Your business
will
for
a
better, you bought it
the long pull, stocks fluctuate
Six hundred stocks went
the
down,
clined
/
JOHN J. LYNCH, President.
GEORGE GRAY, Executive Vice President
effort, no ex¬
good company,
do
etc; etc.
pleasure!
to engage
her stock de¬
obvious to her.
reason
now
was
Co.
offices
in
Bank Building
in a securities business.
Officers
are
Robert
M".
Kirchner,
President;
Ronald
L.
Moore,
Vice-'
President;
and
Dean.
H.
Boedeker,
Se
c r e
t
a
ry-
Treasurer.
Kirchner
speqial 'situations,-•
Which leaves them with sufficient
time to keep abreast of the more
Mr.
general
Peters, Writer
tance
to
officer
an
that is of impor¬
them in the investment
M.
Kirchner
salesman's
clientele
is
composed of different classifica¬
tions
of
customers
there
—
are
traders, investors, speculators, and
outright gamblers who buy and
sell securities. You are running
your own store—your firm pro¬
vides you with merchandise, serv¬
rent, telephone, and research.
ice,
You
determine
must
mands
forts
what
de¬
time and ef¬
most important in rela¬
upon
are
your
tionship to the clientele that
you
service. The tools you can use are
often it is
sen,
Inc., with
LOS ANGELES,
McComb
—
become
of
Francis
Execu-r
Wagen¬
&
Durst, Inc., 626 South
Street, members of the
Spring
New
York
Stock
was
Calif.
will
Vice-President
-
Kirchner,
Inc.
Ormsbee
&
li§f
$20 Million
San Jose, Calif.
Bonds Marketed
A
Bank
of America
N.T.
&
S.
A.
underwriting syndicate, which in¬
cluded
The
Chase
Manhattan
The group paid a premium of
$1,709 for a combination of 6%,
41/4%, 21/2%, 2%%, 3% and 3y4'%'>
bonds. The dollar price was 100.009
To Name V.-P.
seller
of
Wiesner,
In
prin¬
Calif.
Wagenseller Co.
tive
the past Mr. Kirchner was a
cipal
the
associated.
also
were
Bank, purchased on Jan. 10, a
Municipal
Improve¬
the whole machine shop' $20,000,000
ment bond issue of the City - of
San
Jose, Santa Clara County,
try to run
S.
others
of
Christen-
&
Robert
phases of their work.
formerly
was
news
a
No argument. No fuss. No
it
with
formed
been
First National
the
trading. They follow these
stocks. They keep records of their
tape action, volume, news items,
gossip, and they / sometimes go
direct to- reliable sources for addi¬
more
no
loss
banking needs expertly, graciously
(Special to The Financial Chronicle)
DENVER, Colo.—Kirchner &
for
discussion.
a-:-
Own Invent. Co.
recommend
better to pick up a hammer, a few
nails and a screw driver, than to
on
Exchange and yours
just happened to be one of them."
Experience, Facilities and Staff
our
that
New
declined
stocks
answer.
is
"pros" do? They
They select a few
concentrate.
situations
Kirchner Forms
has
•
600
York Stock
interruption. Then he gave her
—to represent you
-
So what do the
-
varied and many—but
he
get
down by al¬
lowing her to talk to him without
to serve your
himself.
over
First
■
physical strength of old Atlas
"Mrs.
Customer,"
quietly told her, "yesterday
her
"'v
the
Every
salesman
hand
un¬
it
which
minutes.
of
in
make
couldn't / understand why in / lieve their, clients will eventually
world / / her
representative make a profit. Then they concen-
the
lap..:,/ didn't
Examples
entailed
required
tional information.
They get the
points. "feel" of a few situations which
upset and she said that;» they like, and in which they be¬
wait untiL-later in the /day
buy (second guessing), then
figured out. that she. had
Everyone - who sells securities •already lost about $300 eyed be¬
has customers who become rest¬ fore she paid for the stock, and
the tirade went on. for several/
less and fretful if their invest¬
Arc
physical work
services
?962
Thursday, January 11,
,
quarter
a
to
Here
the
.
declined
stock
new
and
One
was
she
ex¬
her
and
about
,
perience and lays it in your
and
general market had
attention
but
—
morning
the afternoon of the same day
help, ask the man who has
it, and be grateful if he
done
they
problem in
salesmanship,
solve
to
the field of security
in
that
effective, But if you want to
require
consideration
and
dis¬
and
work
himself
for
covered
very
problems
been helpful, especially when the
suggestions were offered by some¬
one
who has proven his, useful¬
were
often
are
I
years
the
she 1 was
somewhat excited. She had bought
200
shares
of
stock
in
a
good
company
the day before at the
opening,- on y the advice of her
registered - representative. During
Better Way to Do It
a
have learned
more about my job from listening
to other experienced men in the
same line of work than from " any
the
'
-
to
other
.
impossible to try to know every¬
thing that goes on about every¬
■ ;■
.
..
:;i_> thing. You couldn't do this if you
Were a walking computer who had
particularly
'v' The
in
Over
Commercial and Financial Chronicle
Pacific
and
Exchanges.
formerly
Inc.
with
and
the
city
was
Blyth &
Co.,
*
3.08%.
cost-to
The bonds
the
were
reoffered
at prices to yield trom
1.70% to 3.30%, according to ma¬
turity Feb. 1, 1963-1982.
Coast
Mr.,-McComb
interest
net
The bonds
are
the second series
to be offered from
1961 authori¬
a
zation
totaling $44,070,000.
Pro¬
ceeds will finance the expansion
.
Vice Presidents
Work
CARL J. MEHLDAU
Assistant Secretaries
GEORGE L. TITUS
•
WALTER McFADDEN
WILLIAM J. AHERN
DONALD S. LAW
.
ability
press
Comptroller
Assistant Vice Presidents
GEORGE £. DOWNEY
hourly
At the Close of Business
/V;
on
news,
flashes,
and
that
their
to
comes
ma¬
desk
and / daily. The physical
of handling an active
Baker & Co., Inc., 150
Broadway, New York City, merm
ber"'of
the
change,
motion
New
York
Stock
Ex¬
has
announced the pro¬
Edward C. Apy from
of
Assistant
Vice-President to Vice-
Santa Clara.
Forming F. A. Melhado Co.
F.
A.
clientele and following up details
of a procedural nature in relation
American
Mr.
Apy
is
a
Stock
member
of
the
Exchange.
as
at
One
continue
Wall
of
-
member
Melhado
This
*. $10,835,696.52
17,194,482.73
21,478,496.96
1,263,805.81
Municipal Securities'.
Other Securities
Stocks
Mortgages
announcement
is neither
an-offer
to
sell
NEW
solicitation of an offer
only by the Prospectus.
nor a
Shares. The offer is made
ISSUE
'■
..........
to
buy
any
T
661,634.69
.♦ '■*-
4
920,588.64
Susan Crane
$91,415,386.93
Packaging, Inc.
LIABILITIES
Capital
Surplus
.
Undivided Profits
General Reserve
Unearned Discount
....
Reserves for Taxes and
Expenses
Deposits.........r....
Common Stock
$ 2,662,000.00
6,000,000.00
1,098,094.69
1,332,510.93
242,541.20
'90,728.89
79,989,511.22
Y
(Without Par Value)
Price $10 per Share
$91,415,386.93
1
••
Y
^
Copies of the Prospectus
may
be obtained from the undersigned.
TBIST rOMI' WY
•
\
at *be corner of COURT SQUARE
theIn
Heart of the Civic Center,
M&nbur federal
New
Neil
A.
Brooklyn
iwvraftc* Carpotaficnt
of these
^
150,000 Shares
31,841,259.01
...
r.V.-.V.V^.V J....
Other Assets
fUlTON STREET
the
A.
January 5, 1962
6,503,541.37
Loans and Discounts
Building
investment
Partners
and
715,881.20
Bonds and
St., New York City,
the
of
C. E.
Unterberg, TowbinCo.
be
15, with offices
Frederick
Exchange.
will
Co.
&
of Jan.
to
ness
President effective Jan. 2, 1962.
Melhado
formed
December 31,1961
United States Government Securities
State and
the
Amott,
plant to be
with the City
treatment
built in conjunction
ASSETS
Cash and Due from Banks
Bank
*'
Statement of Condition
all
primary sewage treatment
the construction of a1
and
secondary
of
limitations
.
.
follow
releases, wire
terial
Auditor
MILDRED L. RUBENSTEIN
to
the constant flow of research
/
JOHN M. YOUNG
WILLIAM McSHANE
v
Promotes Apy--:
LAWRENCE H. SIEBERT
Vice President & Secretary
HAROLD W. SCHAEFER
plant
Amott, Baker
EDWARD R. HAHNEFELD
the
of
System '
responsibility of making decisions
.for, their, customers, is their in¬
JOHN FRASER
MARY A. MANN IX
Own
handling active trading accounts,
and who
are
charged with the
john b. Mcdonald
LEONARD D. O'BRIEN
Out Your
Another problem faced by regis¬
tered
representatives
who
are
WILLIAM h. henderson
busi¬
Melhado,
York
will
Stock
be
Mr./
McConnell.
Volume
Number 61-24
195
The Commercial and Financial
....
Chronicle
(179)
market
Our Reporter on
.*
specialists believe that
be longer intervals
between operations by the Treas¬
ury so that the new issues which
have
come
into
being can be
there
should
The
which
will
be used
;ba.lanceuf'its
;
which the Feb. 15 maturities will
be mot* It is .again expected,that;.
raise the: short-term, issues will .be very
,
to*
.
be strong opiii-
There appears to
short bond issue may
place in this operation
Government! ligation
most of ,the needed have a
obtain
even
one,
'thoughl' ah -ihterihedikte-term",ob-
ions around that the
will
this
t:
Januapy7cashneeds,ipro^in"^ ^ m
""
BOndS Olier&d
$1 250 000 000)
with
,
question but what
portunify to exchange at least a, the Government would like to
token amount of the maturing ob-. extend the average maturity of
ligations for securities that should, the debt and refunding operations
have a due date long enough to
like this one affords just such an
help extend the Government debt, opportunity. Therefore, it would
In addition,
it is believed that seem as though an obligation or
there could be an important de- obligations which
would enable.
mand
for
refunding issues if the
is high enough to
appeal to those who are interested
in getting a return comparable to
or slightly better than that avail¬
able on savings deposits.
.
The
first
1962
the
pected,
the
near-term
of
sector
...
still
offered
be
this
in
ex-
appeal to
"
income
Should be'^ aoDearinn
as'
the
in
ket
what
very
ernment
1962.
vine
VTy
1
bonds.
Co.
,
minded
coin Road to
engage
rities business.
r.
Weston,
in
Officers
a
President;
'
-
•< •*.
-
--.
er*
Co.; The Marine Trust
New York; The
Western
of
Frank,
Secretary
Treasurer.
RECORD
REPORTED BY THE NEW MANAGEMENT TEAM
OF
Commercial Bank of North America
LEICHTMAN,
PRESIDENT
AND
FOUNDER
■
[.;(;■
; ^
;
!
■
Treasury
should
1
turn
out
one
raising
will be coming along
and probably before the
over
announcement
will
there
as
to
the
be
way
an
in
G. Russell Clark
Theodore 1. Salamon
Chairman of the Board
Executive Vice-President
/
to
would embark upon a junior forfor the Gov- ward refunding if market condiduring the first half of* tions are conducive to this kind pf
an undertaking.
However, such a 7
active
Former Superintendent of
State of New York
Banks,
right after the new money
and refunding- operation idea in mind of
with the
helping
HIGHLIGHTS FROM THE BANK'S ANNUAL REPORT*
modestly extend the maturity
of the Government debt might be.
crowding the market just a bit.
It is evident that some money
to
Dec. 31,1961
Deposits..........
Resources
;
CUSTOM
fflnmjratui
BANKING
.......220,195,947
on
Reserve for Possible Loan Losses
investment
We have
20
■v! !
Broad
-
-
Capital Funds
;
2,619,099
14,687,680
15,536,179
.4
*
problems.
v
'
-v,
;
;
s
'
•
$2.64
Share
$2.47
;v
.
\
'.
'■
The
complete Annual Report will he sent
:
•'
.v"."".
;
,
.
.•
.'.
\
'
...
request.
on
,
' ■'
;
•'
■
f
only two offices:
ConniK'i'dal Bank
Street, New York 5
of INTortli America
Street, New York 19
MANHATTAN
116 Fifth Avetiue
JUdson 2-5900
528 Broadway •
Offices
*
1400
Broadway
Deposit
Insurance
Corporation
-
352 East 149th Street
115 Broadway
781 Eastern Parkway
465 Kings Highway
QUEENS.
Queens Boulevard
BROOKLYN
.
1574 Pitkin'Avenue *315 Broadway
...
>
99-01
Federal
'.;
BRONX
^
318 Grand Street
........3,418,070
WHitehall 3-2300
West 51st
Member
98,398,952
..........
;
7
128,773,674
—
:
■
193,740,265
;
particular emphasis
t7.; V,
......
$170,992,796
;
Net Earnings Per
with
Dec. 31,1960
.....$201,772,154
;
Loans
Sruat
Eliot
Morris
&yCo.f Man'ufactar^Han: Wfst°n' Vice-President; and Rob-
Trust
AN ALL-TIME
JACOB
secu-
are
inves¬
have funds to put to work.
*
initial refunding operation
is
.
,
-
Vd
Securities Corporation has been
' formed with offices at 1335 Lin-
.
for this year
month
,
v:;;
.
*
Fla—Geneva
,
the
venture
shortly
-'-jf
...
There
what
Looking Ahead
The
«.
,
over
.
a
MIAMI BEACH,
Otjieir* members of the offering
grout) include:
stiH the largest buyers of Treas-
venture, the Treasury is getting surprise to some money market •
right into action in the open mar-; specialists ; if
the -Government/;
be
10°'50-
m Government obligations by. me
public pension funds. They .are
continues
Avoiding Indigestion " •
•
"
the plan which has been used all
When the February ~ operation,
of last year for both new money
is ot^of the way, there will bear"
and
refunding operations.
By short period (respite) in whichstarting off the new year with av th6 treasury will he out of the /:
not too sizable new money raising^ maEket ahd it Would not
be ar
Thus,
reofferl"g.to.the Pub»C, the
Chemical Bank New York Trust
is no question but ■'
yields which; are ap- pearing for all fixed income bear-! (
ing obligations are having a favorable influence on those who ,
tors.
been
ate in it.
a
around, debt extending issues
can
the
these; funds.
borrowpredicted by not
money market itself but
by the specialists who oper-
also
k
change by the Treasury since they
can be made attractive enough to
This type of ne^ money
ing had
only the
su£r-
.
Geneva Sect. Opens
.
_
the ma-
ex¬
Govern¬
the
get
_
is
.
whichg shouM^be ^PPearing as
-
expected package offer.
And
though there is very much
a rising interest rate psychol¬
ogy
new
been
used
as
market to
ment
needed
had
Treasury
And,
Gov¬
market for;
open
obtain
to
was
money.
the
of
venture
in
ernment
.
-state
even
of
Bank
Tvnicn wm oe maae py state_ana bonds are scaled from a yield of
city Pension fund buyers. It is 1:65% out to a dollar price of
turity of the Federal Government
debt somewhat would be part of
the
Manhattan
no
the Treasury to move out
rate
coupon
is
There
op-
an
Chase
W*- -P*#,* net interest cost of 3.392%
to the state.
■ - .
•
.
ing operation will afford
Barr
.
^.favorable influence onjbe piw
•
.
Hutzler;
.
mi
funds (between
and
&
Bank; Carl M. Loeb, Rhoades &
Co.; Bear. Stearns & Co.; "iiiiS
manager of an underwriting syn- able Securities Corp.; Hornblower
diCate which purchased on Jan. & Weeks; F. S.
Moseley & Cor
10, an issue of $33,063,000 State Stone & Webster Securities Corp.;
of New York Housing Bonds, due B. J. Van Ingen & Co.
Inc.; John
fundings for this fiscal period,
Jan.. 1,. 1963 through 2012, inclu- Nuveen & Co. Inc.; Bache &
Co.;
' Pgnsi&ii Fund Buying to
sive. The group submitted a bid Paribas Corp.; L. F. Rothschild &
'
Accelerate
?
of
100,21999 for the b on d s Co.; Adams, MCEntee & Co., Inc.;
\ The •• much expected, nsing; inn..ag 3.%s, 3.30s, 3.40s and 3^8, set- A. G. Becker & Co. Inc.
or a
$1.000,000,0(50 also. The refunding of ttiePebnia short-, ary
3y4s, 3%.s and. 4s, Xvhich
twm oftotag. .However, som e' amount to almost $11.2billion and
money market experts would not are owned by the Central Banks
; be surprised if there would be at and jhe^Govemmenrinv^meht
least -a modest, effort made
to
(.trust) ,-aocounts in the aggregate
f help the maturity range of the of $4,974,000,000, with the balance,
debt through the reopening of an of
$6,206,000,000 being held by
outstanding issue in the inter- private investors, will be done
mediate-term area.
It should be with the hope of pushing out the
well taken.,
..•
*/ •
\ V- ;
debt maturity of the Government
Certainly the February refund-; issues.
new
Brothers
Brothers & Co.; Blair & Co. Inc.:
White, Weld & Co.;
The" Philadelphia
National
,
The
.
again
in April .for new..
money .with another fairly, sizable
refunding to be undertaken m
May. / June: will close out the re-
T. CHIPPENDALE, JR.
Treasury is expected to make
today the issue or. issues
known
A(»»
-|
properly^digested. Thebe m the
Goyerament, will most likely
•
mon
market
-
BY JOHN
.Northern Trust Co.; Hallgarten &
Co.; R. W. Pressprich & 'Co.; Salo¬
$33 Million
.
15
'
Forest Hills
-
14-15 122nd Street, College Point
Member Federal Deposit Insurance
Corporation
♦
i r
,;
.•..
■> -• >
and
16
The Commercial and Financial Chronicle
(180)
Successful Bidders
.'.
.
Thursday, January 11, 1962
Puerto Rico Bonds
on
;
Promise of the Future
-
».
.
'.' By .Roger W. Babson
.
VI''>?'■
' V-■ xJ V'
•'
"
writes of beneficial impact
;>;
Financial
of
observer
many
years
'
automation, and denies it means fewer workers or that we are going
fast in
too
Only
few
a
automation
years ago
little
that direction. -:
than a trickle
[ within the economy, but today it
was
is
river and tomorrow it will be
a
flood.
a
more;
The
question
great
is
] whether its obvious benefits will
be% outweighed by the problems
.
that it raises—such
employment.
Automation's
The
825,000.000 general purpose bonds due
A banking group headed by Chase
Manhattan Bank; Morgan Guaranty Trust
Co.;
bids, on
1963
to
Ira Haupt & Co., and including
Banco Credito; Banco de
San
an
Vice-President of the
Puerto Rico,
Fiscal Agent for the Commonwealth, and John
de Milhau, Vice-President of the Chase Manhat¬
Francis
Banco de Ponce ;•
interest cost basis of 3.4452%.
Senior
Bowen,
•
Government Development Bank for
and-Roig
high bidder
Shown, left
Juan,
Commercial Eank of Puerto Rico was
at
Toto, President of Banco de Ponce; Jose R. Noquera, Secretary of the Treasury of Puerto Rico;
1984.
tan
Bank.
I
have
un¬
mass
and
before
will
I
has never
been
any
indication that more
machinery means fewer workers.
that
back
Look
industrial
the
history of this country,
and you
find that there has been
will
said
is
built so that every step from raw
material to final product could be
turned out by a handful of people
at
pushbuttons.
right:
Frank
Smeal,
Vice-President, Morgan
an
It
doesn't
sidered.
that
tory
machines
ment
has
tion
Natural Gas
'
prices
from
range
redeemed
if
on
104.63%
prior to
or
thorization to construct and oper¬
ate facilities which would result
Dec.
in
31, 1962, and thereafter at prices
decreasing to 100% after Dec.
Pipeline Co.
31, 1980.
Bonds Offered
The bonds
not redeemable
are
borrowed
underwriting
which is of¬
fering publicly today (Jan. 11)
$30,000,000 Natural Gas Pipeline
Co.
of
America
first
mortgage
pipeline bonds, 4%% series due
1982, [priced at 100%.
group
less
I
than
at
interest
an
of
ment
now
short-term
bank
pay¬
loans
outstanding in the amount of
$31,000,000 incurred in connection
with I960 expansion projects.
A
sinking
bonds
fund for the
provides for annual
new
pay¬
Trio-Tech, Inc.
A
wholly-owned subsidiary of
Peoples Gas Light & Coke Co.,
Natural Gas Pipeline is one of the
Common Offered
delivered annually in the Chi¬
cago metropolitan area. The max¬
debt,, purchase
the
equipment, rtew products,
daily delivery capacities of
company's pipeline systems,
peak
with
the
hold
withdrawals from
day
redemption
price is 100%, Optional redemp¬
with
the
Federal
Commission, and
The
an
additional
run
is
lease¬
The
been
influx
of
automation
has
unexpectedly rapid •> that
many have been badly frightened;
they think we are moving to fast
for our own good.
Some wish
they were living back a 100 years
ago so they wouldU have
fewer
complications; others say they
so
and
working
St.,
of
3410
Burbank,
from
changing at
years
;
company
wouldn't want to be around
West
Calif.,
is
with
now.
have
such
a
the labor movement
attractive
such
said
any
also
be
healthful and
more
better
pay
amazing machines will bring still
more
in the years to come.
M. G. Hill Co. Formed
M.
G.
Hill
ducting
at
offices
York
&
Co.,
Inc.
is
con¬
securities business from
a
Broad
25
Street, New
City. Isaac Mayer is
a
prin¬
cipal of the firm.
DIVIDEND
NOTICES
REGULAR
QUARTERLY
Even
DIVIDEND
which has
The Board of Directors has
declared this day
COMMON STOCK DIVIDEND NO. 110
This is
a
regular quarterly
dividend of
27*
COLUMOIA
GAS
SYSTEM
*
PER SHARE
WMMMmmMmmMMmmmsm
The
Payable
change-over to automated
on
Feb. 15,1962
production
This announcement is neither
of
the
an
offer to
an
offer to sell
nor a
solicitation
buy these securities. The offer is made only by
Offering Circular.
to holders of record at close
and on,
of
is going to spread on
and certainly nobody will
deny that a great many workers
will
have to
This is
New Issue
v
•
would
have
experts
have
Jan. 4,1962
often
THE COLUMBIA
that; without; automation,
warned
we
January 5,1962
SECRETARY
fact and must be faced.
a
Farsighted
find
soon
would not
we
sufficiently
a
business, Jan. 19,1962
KARL SHAVER
other jobs.
to
move
large
GAS
SYSTEM, INC.
labor
force to accomplish our
work, in¬
troduce new products, and main¬
100,000 Shares
tain
our
living,
WESTERN SEMICONDUCTORS,
INC.
I
standard
prosperous
v
*
'
.
notice
that
in
industries
of
,
good
a,
and
ofJ
deal
human effort is still needed
even
off ices -'where
CAPITAL STOCK
COMMON STOCK
Price $3.00 Per
DIVIDEND
MILL FACTORS
Share
The
CORPORATION
Copies of the Offering Circular
the
are
obtainable in any state from
undersigned and such other dealers
as
may
EARNINGS
Mill
Factors
1960
to
statement
June
shares
PACIFIC
210
West
460
Denver
233
A
Seventh
Club
Street,
COAST
Street,
Building,
San
Diego
STOCK
Los
Denver
1
EXCHANGE
Angeles
2
14
share),
Secuiities
pursuant
ment
to
will
the
March
Act
an
1,
begin¬
Corpo¬
for 208,460
value $2 50
8,
Exchange
Securities
the
of
(par
gen¬
July
period
statement
on
made
holders
period
such
Stock
and
the
be
mailed
interested
statement
"'r?u
filed
Corporation's
other
"V" *»*<
a
1960,
with
Commission
of
security
is
1933,
as
in
generally
Act
of
1933,
to
all
as
available
accordance
provisions of Section 11
ties
request
of
security
holders - and
parties.
Such
earnings
made
holders
on
(a)
with
to
the
of the Securi¬
amended.
on
cash dividend for the fourth
quarter
amended, and which became effective April
25, 1960.
Copies of such earnings state¬
the
*'t ",
for
1961,
Common
the
;
30,
registration
of
per
MEMBER
TWELVE
security
ning after the effective date
ration's
INCORPORATED
its
to
Directors
December 20, 1961, declared
30, 1.461
Corporation has
available
earnings
CARLSEN
FOR
ENDED JUNE
NO. 184
of
Board
cents
erally
&
STATEMENT
MONTHS
lawfully offer
these securities in such state.
CURRIER
NOTICE
DIVIDEND
FINANCIAL NOTICE
( Without Par Value)
or
than
our
workers today. It is the machine
that has helped to bring about this
prosperity, and newer and more
Changes
Up to
had
working conditions
received
some
Facing
yet
might
had
ever
r
au¬
It
100
a
pace.
—
not
workers in the world's his¬
no
things
pretty fast-moving -menengaged in the design and manu¬ is frightened by automation, and
some
facture
of hydraulic, pneumatic,
laborites are crying aloud,
that there may not be any jobs in
and
electronic
test
equipment,
a few years.
Let them be assured
centrifuges,
training
aids
and that
there will be plenty of jobs—
ground handling equipment.
but many will be
yery different
jobs.
to file
application, for
.
*
Cohasset
Power
proposes
of
improvements
capital.
the facilities of Natural Gas Stor¬
filed
fund
machines
one
of machines
we
con¬
It cannot be denied that
machines.
.
author¬
age
Co. of Illinois
(a whollybeginning in 1963 sufficient
ownfed subsidiary of ihe com¬
to retire
approximately 94% of
pany), currently allow peak day
the issue prior to maturity, with
provision for additional optional deliverability of approximately
The company has
annual
sinking fund payments. 2,416,500 Mcf.
sinking
additional
imum
when combined
from
volume
provements.
Co., 26 Broadway,
New York City is offering pub-"
Iicly 112,500 common shares of
Trio-Tech, Inc., at $2 per share.
Net proceeds will be used by* the
company
for the repayment of
gas
ized
yet
today almost
incredible, and still employment
keeps reaching ever higher. For
the most part, our joblessness is
due to an exploding population, a
rather impressive group of people
who would rather live on charity
or unemployment insurance than'
work, and a reluctance to develop
swiftly-paced* programs to retain
[and relocate workers displaced by
the advance of technological im¬
Kureen
Ezra
ments
The
maximum
the
of
cost
4.625%.
pioneer'long-distance natural gas
pipeline operators in the coun¬
try.
It owns two pipeline* *sys»*
Proceeds from the sale, together terns which currently supply ap¬
with treasury funds, will be ap¬ proximately 70%
of the natural
plied by the company to the
in
1962.
prior tor Jan. 1, 1967, with funds
Dillon, Read & Co. Inc. and Halsey, Stuart & Co. Inc., head an
increase
an
daily
delivery capacity
of its
pipeline systems by 132,000 Mcf
in- the aggregate by the end of
to
soared
sheer
The
and
more
that
me
in America
new
cient
of
to
seem
are materially and
spiritually better off than the
people of the backward nations
we
who
outflow
mind,
entire
going too fast, everything
are
effi¬
employ¬
unending
the
out
"automatic" machines.
height to another simultaneously.
to
in
Keep
however: Human brains must still
there
over
completely automatic
have been installed. It
that a factory could be
scheme, and
human, hands must build, set up,
start, tend, repair, and maintain
(and sometimes even
Will
Problems
said
again
say
most
processes
work
Solved
Be
Co.; William C. Carrington, Jr.,
Partner of Ira Haupt & Co.; Roberto de Jesus.
Guaranty Trust
Commonwealth of Puerto Rico has received
as
the
of the
per
Company's
stock.
year
share
of 70
upon
common
This dividend
the
capital
will
be
paid by check on January 15,
1962, to
of
common
record
business
at
on
stockholders
the
close
December
of
28,
1961.
K.
C, CHRISTENSEN,
Vice President and Treasurer
San Francisco, Calif.
Volume
195
Number
•
.
,
•j
6124
Va,
.
.
The Commercial and
.
+
;
:
.
i.
.
.
.
.
'
■
Financial Chronicle
their future recovery was last year, and little came of it,
divided. One that had its» backers, were
again very much in the
was Radio Corp. which was some-, forefront
of the suggestions for
what
restrained
1962. Their earnings reports were
through
the
over
AND YOU
.
BY WALLACE STREETE
A (181)
'
■
-7
.
electronic boom, arid is still well
its- recent high in 1960.
under
To
start
off
the
before they
were split, more than
doubling in value in the process,
to keep the stock market That even shamed the final net
a
nervous affair this week after
gain in Superior Oil, the highest
only
one
"convincing
advance' price item in the list. Its final
against a handful of declining posting
was
a\ 55-point
gain,
new
year,
re-
shares '
industrial
con-
fact that its diversification is such
sessions.
last
of
as
spot in the list, although
much
spectacular was
ac-
formance
in
late
the
that followed World
V.:A"
■
Since then the company has had
earnings sapped by the expen¬
sive
expansions
into
color
television
tion
electronic
and
processing.
The
color
data-
situa¬
TV
currently is the
bright
to
it alorie virtually up
now the major makers
here,
also
are
their
reports
getting
into
the
color
persistently heavy and failed to field with RCA and its own color
complished
by
the
individual show a plus sign for their average set production is
reported by the
•issues. Nevertheless, the rail aver--for more than half a dozen of the
Company -to
have
turned ; the
'age has y.et--to sagbelowthe final year's.-, early:session as they paid corner Arid started
coritributing to
posting of1961 while the indus-Afor the excesses that had carried earnings. 7? .• rA.77
■'A?777
trial A average A has
never;' been them to levels where they weren't A Data
processing work hasn't yet
•above its • closing arid,, at worst, anything
approaching ' statistical reached' the
point, for RCA that:
nearly 30 points under it;
Ay; bargains: They continued to in7 the color-set
activity has and it
r :':
?7'?7 .V - dicateV continuing 1 profit-taking
will continue to be a drain on
Selling Targets ^
^at had first shown up , last
earnings for some time. However,
Selling targets were the issues December. , .
'
the company's Chairman recently:
4;hat" had;been populai: Tor -many ''A- V A. A
A
v
^
indicated that this year this work
months, had run their price-earri-. A '• ' A uptimisiii ^revaus,r
will be done at only - half the
:ings ratios ;:to high, levels,'Street- opinion was still
losses reported up to here. And
were
showing below-average or largely on the optimistic side. Althe outlook is expanding as a re¬
no yields at their high price tags,
though the market technically was
sult
of
agreements
to - export
In short, the issues that the oldT disappointing and some warning
equipment to France, England and
time .yardsticks -have
fori'long signs were apparent, the fact that
Japan. An important turn in this
called- vulnerable v proved - that the selling concentrated on vulsecond of two expensive problems
some
of the old notions are still nerable items and that some of the
are historically
and statisti¬
cally high. Jersey Standard fs still
a neglected blue chip.
[The views expressed in this article
do
dreary, and
,in coping with the
problems
should
con¬
were
the
now gets
70% of its revenues from this half
of the world; The company showed
operating
1960
on
is
and
income
Meanwhile
dull
the
1961
in
reached
reaction set in. In
much talk centers
a
of the
.
Lowry
C
Mr.
Co.,
110
—
Powell,
Street,
Jan. 19, will admit
on
Lowry to partnership.
Lowry will
make
his head¬
quarters in High Point, N. C.
the peak
manager
ment
share prices
of the municipal depart¬
of
Lewis
McDaniel
&
•
■
_
,
.
•
.
.
,
,
A *
at least semi-valid.
C
The
-shares
sections
neglected
""7" '77
like
Business 7 Machines,
which; had
closed: out 1960 at 593 and then,
the face of it, kept hopes high for
an-end-to the selling before too
despite
much .more time goes by.
in
1961
3-for-2 stock split early
a
had
worked
back
-." Annual
579
to
could
rails
the
reports
that:
1
that year ended, were
bit
hard
clipped
by the persistent sell-
,
down.
However, a trim-of some 30
points in the price tag for I.B.M.
is a modest setback against a plus
•Ti?e similar. ia-i ^
an
with
-
And the list of them in
a
.
long
Zenith
than
a
1961
wouid
^on
involved,
rto; back-up-the: age-old fact that
stock splits are overwhelmingly
popular with investors arid/traders.
ed
e
ends
~
by
split talk—in? fact,; has
split the shares — the de¬
as selling hit utilities
generally, tfnly made for a more
attractive bargain in the opinion
of its followers.
As
has
Electronic
as
of the nation
a
residential
:
V
Savings,
looking to California, and to
are
of the fastest growing Savings and
one
Loan Associations in Southern California.
Here's Just A
7
serves
section
Sample Of The Valuable Contents:
•jIV How California's record-shattering population growth has created
v
' 7
'./» 77'.77
.
an
unparalleled investor's market for
you.
-
it Why Los Angeles is the Ration's leading construction market and-
Oils Liked
Oils,
garded
free money making booklet loaded with reasons
why wise investors
World
desirable
as
,V? '
shares
old
well
a
areas.
7
still
were
It
industrial
as
Here's
the
made.
been
important
an
in
profit
efficient installa¬
more
have
tions
of pursuing an eccentric and unRadio had gained better certain course after theif sharp
hundred points last year corrections late last year. Opinion
The
one.
and net income and with
acceleration
lately
77
issues
quality utility com¬
generally, Public Service
shown steady growth in its
some
■A:',.'??'.
was
with
revenues
run
Eccentric Electronics
,
panies
re-
bef ore7 the
-
The
,
followed
be
strength
-stock
clines in it,
in its final phase where a correc-
-
large; .plus.- signs
.
where stock splits were
With Yield 7*.
the
never
beyondconcedmgthatitmight.be
■
In
on
newsTlowing until at least April,
it is felt that there is little prospect for any outright bear market
at this time. Even those who concede that the ^intermediate-term
correction has farther to go were
J*0* writing off the bull market
sign last year that ran to 275
points for the year, after adjustment for the stock split and dividends paid on the issue.
■
RCA's
dend. And since it hasn't featured
expanding. In the face of favorable
calmed
issue
for
one
utilities, Public Service
Electric 7 wasstill : a
blue * chip
offering an above-average return
on
the
recently-increased divi¬
ex-
pected to reach flood stage late in
the month are expected to prbvide
ing A As a matter of Actual fact, comforting tidings, and at least
the
new
shares had; sold above the first quarter this year is ex-r
;6b0v dunh^ :thq^eaY^bCforeAthe; .pecteclAq-show ther business boom
as
a
vital
a
A Blue Chip Utility
=
are
be
profit showing, and consequently
the languid shares.
.A7,^777;
^^able^Tk^ug°°d^^Sd<:in
of c International.
-
its
;
which - were widely re¬
as the section to do well
profit possibilities for the investor who acts
now.
it How and why diversified industrial growth creates sound, stablesavings and investment opportunities for your surplus funds.
"WHY INVESTORS LOOK TO CALIFORNIA"
announcement
This
neither
is
?7?7??77?Y?777'?7
NEW
77 w
•
:-r
to sell
offer
nor
solicitation to
A 7 A A*
-
;• "7 U; .7777777 77
•
are
'
,
offered
as
»
VV7A?:- .• ,'V:'7AV??:7 7
insured savings
A? v A
'•;
account
^ : •:
50,000 Warrants to purchase 50,000 shares of
7
Class A
Insured
common
purchase of
two
every
Company will sell for lc
one
Stock
shares.of Class A Common Stock the
M
CURRENT
ANNUAL RATE
savings accounts
Dividends
over
Class A Common Stock Purchase Warrant
earn
compounded quarterly
$80 Million
•
Air
mail
postage
of the month
Share
FREE
GIFT—Handsome
earn
Copies of the Prospectus
-
brokers .and
..
dealers,
only
'
■
V
_
h
.
.-r
';7>"C.v.I'
"l
\
m
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r
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.
7
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7
.•..y#
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N,
.
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♦'.*-*
7 "t
r
fcW <
be obtained from the undersigned, and such other
-7,»'7; V ' •>':■•■
•V■'\
c
'
"*
r ',
•
*
.
LY
:
,-t :■■■■; ■■
*
,
•_
S. D. FULLER St. CO*
paid both
•
ways •
Main office:
Savings postmarked by the 10th
from the 1st of the
same
month.
now.
Accounts
up to
$50,000 invited.
:■
.
...
.
'
/
now
Air mail funds to: WILSHIRE OFFICE of
such States as may lawfully offer these securities.
.„•
7V:
rru
\n.\
A ;7V"7 7;•?
in
-".,»•
V
"
may
Resources
desk-top World globe bank. Attractive colors.
Open your insured savings account,
:•>
•
Savings accounts insured to $10,000
Lynwood, California
7-
the high rate of 4.6% a
by the Federal Savings and Loan Insurance Corporation
•
Price $4.00 per
or upon request.
year at World Savings. Air mail funds to World Savings
and receive your passbook by return air mail.
•
With the
-
Vfill he mailed to
today at
World Savings!
Semicon, Inc.
Class A Common Stock
insured savings account,
Open a high earning
100,000 Shares
•,r-
open your
'
speculation
a
free when you
you
buy any of these securities.
These securities
~
1
a
is made only by the Prospectus.
The offering
-Vi
isfsuEf
an
-
}
' f«
,.
»•
WORLD SAVINGS
AND LOAN ASSOCIATION
7
,
He
formerly Vice-President and
was
market where
on
*
Old
&
Edward R.
which the
after
1957
those
as
;
members of the New York Stock
have been
near
presented
only.]
Exchange,
report is in.
shares
nowhere
and
time coin¬
Kistler
expected to improve
it when the
any
FAYETTEVILLE, N.
in
record
at
of the "Chronicle."
To Admit
Western
Hemisphere to where it
an
those
Powell, Kistler
giant of the field, has been
doing well in stepping up its pro¬
in
are
author
the
efforts
necessarily
with
They
tinue to make their profit state¬
ments
a
source
of
satisfaction.
Standard of New Jersey, which is
motion
not
cide
success
one.
After going
were
year,
benefited from the tele¬
its
Utilities, where stock splits had
hand
in superior
price per-
a
the bright
it
run
its
and
vision spree
War II.
of the company to any stock split,
These shares in the reactionary
markets of this year sold down
more than five dozen points. 1
favorites, indicated yearend cleaning up still underway by some of
the professionals.
not
year
during the past year. The moderate final gain was in large part
attributable to the flat opposition
year's
Rails continued to stand out
of popularity
peak earnings
date all the way back to 1955
Radio
when
range of better than 300 points
a
dry up, at times sharply. The
sprinkling of large blocks showing
up in normally
quiet issues, as
some
for
1957 and 1959, and wandered over
,
as
picture. The last
Superior had sold above 2,000 in
" :
Volume indications favored the
.
sell side still since attempts by the
industrials to rally saw turnover
well
that the electronic work is some¬
what
obscured
in
the
overall
that
solid comfort early in 1961 when
other
field, despite the industry
in the electronic
tinued
.
a
.
Radio Corp. is a definite leader
actionary
17
\
1926 Wilshire Blvd., Los Angeles 57-P,
California
Co.
18
The Commercial and Financial Chronicle
(182)
approved
NEWS ABOUT
and
32
Court
St.
/
BANKS AND
New
Branches
New
Consolidations
THE
etc.
Revised
•
'
:
Capitalizations
•
j.
.
*
.
NEW
"COMPANY,
Dec. 31.
-
-p-pp'PP*'
$
Deposits
York,
opened
branch
new
a
Mr. Berdolt was Vice-Presi-
dent.
Chase Manhattan Bank, New
The
and Fifth Ave..
As of that date, Chase Manhat¬
tan had 111 banking offices in the
with the
been
Jan. 6 at 135th St.,
Controller,
and
iaent
on
TRUST
IRVING
New. York area.P-/-'•/;• ?;/AX
'■
P "
Dec. 31,
'
1951
.
2,170,646
❖
*
Dec. 31,
■*:. :I-V.
y
:.p
?. u. >.;. P'
x' „
j
ft
onrl
:••• V-V..V.. ..P
' *♦
IIP
{.
'
■»
V
534,440,429
975,956,680
Cash and due front?.
Undivided
P/P P'
'
453,677,445'
1,140,931,376
Govt,
pfts._
35,644,758
87,688,262
:
curity hldngs.
Loans & discnts.
4,847,597,675 4,360,782,767
Dec. 31,
CO.,
&
Trust
Co.
York
New
oT
Total
United States
of the
Jan.
5
of the Board and Chief Executive
Officer
Charles^
named
and
chairman
tive
Loans
'
-
•
....
.
59,915,881
50,506,178
87,070,787
85,875,211
18,965,284
18,925,281
'
has been President and a Trustee
NEW
J
1958,
,
discounts
.34,923,842
profits.
1,487,811
from
President
He
remain
will
member since
Horace
he has
banks
U. S.
a
1937.
Loans
76,353,409
security
46,942,281
Total
116,860,673
3,471,505
3,076,645
profits-!;
*
-
91,415,387
989,511
S.
NEW
TRUST
AND
8,747,357
YORK
.31,841,259
FIRST
NATIONAL
BANK
CITY
OF
.
banks
1,190,659
of
1961
.
NEW
YORK
w'
Pp; Dec. 31p
1961
;
:
$ ' PP
$
9.530,0^4.640 nfin
,
.
'
PPpP
Total
Deposits
U.
due
and
banks-
frcm
S.
Govt,
$"
•
Undivided
t-
134,172,624
#
profits-
V'W'-VtV
BANK
NEW
YORK
'
,
/
.
Dec. 31,
1931
"■
;
DepositsCash
from
due
banks—
Total
Cash
5.221,787.676 4,679,524,281
Loans & discounts-
128,773.674
116,396,176
Loans & discnts.
2,454,646,724
pfts._
146,079,286
.
The
election
dolt
as
the
*
of
'
'
*
.•>•
Herman
Senior
G.
The
,
Savings
New York, was announced
Chairman
'
BerP N.,
of the
Bank,
tyy Earl
*
4
U. S.
into
a.
of
name
The Bank
'
;
Y.
k
•
of
:*^4
236,810 288
&
:•/
Kenneth H.
25,862,132
49,528 633
>•;/
f
NEW
-
,
'
ISSUE
J
V
,
'
11
'
:■
V •••:;•.< ,*
/
•
"
-V
1
\
^
\
-
a
that
-
Di¬
a
V
of
National
of
the
;.
Bank
i;
Ad-
an
-
-
-82,039,278
77,513,150
817,664
of
1,265,337
Bank's
Board
becoming
Dec.'
31,
1961,
had
Easton
total
Leon JT. Weil has been admitted to
resources
total,
general partnership in the firm. 4
Mr. Weil joined Steiner, Rouse
the
for
resources
LeonJ.Weii
;
-
Na¬
$20,075,595 including deposits
$18,728,920. Maryland Nation¬
al's
$579,023,179
deposits -of $528,425,692.
tors
'of
the
National
Newark
Essex Banking Co., Newark, N.
were
Charles
&
W.
chairman
j.
in
1950, and since 1955, has been
of
the
company's
branch office in the Chahiri Bld^.
same
co-manager
including
-
at
■
'»
;
'
'
«
;
-
^
,
-
,
.
•
\
122
East
/; He
Ohio, ofor: the
•
42rid
Street,1
the
of
16
former
Co.
He
J'
tral
:
:
a
messenger
Western
/
Bank
Cincinnati, Ohio.
President -of
was
Trust
Board
as
career
,
Co.
for
22
of
i
Calif,
Frank
—
Vice-
a
Bingham, Walter &
Hurry, Inc., 629 South Spring St.',
of
members
Stock
Cen¬
the
and
Pacific
Coast
-
Exchange:7 Mr.
formerl y
Dyer
Vice-President
,
Wagenseller & Durst, Inc.
Chairman fob 12 years be¬
fore becoming
>
7
ANGELES,
President
for
and
years
r
Dyer, Jr. has been elected
at
1
the
P ;
."JL •
.
jDlllgnam, W alter P
of
age
\TnmArl \T
JjyGF IN SlIlvCl V
-
last xtwo
began his banking
the age
^
January 5, 1962
-
H
of Direc-
LOS
Trust
160,000 Shares
honorary
Board
died Dec. 26 at the
years,
85.
.
1;
Dupuis,
of the
tors of the Central Trust Co., Cin-
nor: a
s-
Stock
announced
z5
■
of
Klipstein and Fred R.
,
'
City,
New York
Sullivan have been elected Direc¬
Department has also
offer-yto sell
become
members
tional/Bank
solicitation of an offer to buy. The offering
is made only by the Offering Circular. *
;
/
an
New* York
-
•
cinnati,
Tim advertisement U neither
Street,
;
19
'cA
.
>
'-date
Bank,
*
Chairman of the Advisory Board.
Brooklyn,;
State
)•
'
•
tional
232,642,521
24.635,823
:
Bank
with T. Hughlett Henry, Jr., pres¬
Chairman of the Easton Na-
$
49,005)873
profits.w
.'
■■s'yi
of its stock
members
Easton
become
On
discounts^-
Undivided
stock-
National
#-
_
members of the
visory Board of the Easton bank
from
— —
Rector
ent
Govt, security
Loan
present
Board > of
'
commercial bank by
Central
-
'
Easton
#
retained with the combined bank.
;
'.-'-P
the
to
Willis will
The
OF
•1961
•$ s
stock
■
>reHletsyi
Ro(Jse & Company,
All other officers and em¬
ployees of Easton National will be
' Sept. 30,
1961 v
holdings
the' Centra!
convert
a 11
due
t
A HTYilt"Q AA/Pll
J J DII
Na^Exchangej3'1 has
outstanding, providing
Mr,
——1—— 215,481,696 211,293,249
banks.-
4,019,812
New York, has been approved by
the State Banking Department.
Presi-
and
plan to
Industrial.: B
Vice-President
Greenwich
Harkness,
/-P.
••
2,583,592.
profits-
■'"*
•
141,057,282
..P;.\y»
N.
Dec 31,
resources.^—
Cash and
v>"-'v/'-*-'
h
ISLAND,
/.
Deposits
2,236,395,333
Undivided
p</pppp> * V
Total
security
bteilieF, ROUSe
7
*
will
BANK
a
a
rector.
• >
,
si:
■
49,323,022
.710,937,306
"y
(
25,178,650
46,806,603
1,120,900,005
.
-
j.——
Govt,
-
'
•
31,787,071
997,248,242
Undivided
'■
•
the
Maryland
16,000 shares
the
as
numerous
ratio of 5-for!4.
"
;
118,558,097
67,313,598 360,704,798
7,410,403
7,651,039
NATIONAL
LONG
V
•
226,195,947 209,504,329
—
se-
profits-
SECURITY
U.
S.
<jj
'
shares
Bank
years,
active
//"''w-
^
issuance
the
of
559,509,619
:
discounts
/ 201,772,154 184,488,729
'*
•.' '•
.Vv
holdings
h
635,031,203
*
1961
duevfrom
and
banks
1
• 1
605,267,318
—
Undivided
4,135,554,504 3,774,913,073
fVV
//.>'.PV-
1,223,545,740
S/Govt.
1961,;.':
$
between
contemplates
20,000
now
Sept. 30,
:! !"• •••$
resources——
Deposits
<..*$
curity hldngs.
U.
•:
..I'/'j.V' V
'
Sept. 30, '
1931
:
v° $
.
:
-
and
"
VVVV
1951
COMPANY
TRUST
NORTH
YORK
'V
several
been
announced Jan.
for
110,703,463 107,247,394
*&
loans
was
has
partici¬
pating underwriter in many issues
during the last decade.
VV ^ ,
Maryland,
holders
U. S. Govt, security
holdings.'—
.108,733,361
1,897,200
Dec 31,
.
GUARANTY
OF
NEW
'
-
of
firm
,
686,782,205
banks
;V;"
AMERICA,
J?
1
■■
1931
'» '
resources
Deposits
L,397,107
•
COMMERCIAL
127,867,008
-
■
"j
June 30j
Cash and due from
pfts.V;
resources.
*'
26,912,000
«
Total
I
101,617,100
se-
OF
Dec. 31,
-
Total
—
—
BANK
GARDENS, NEW YORK
240,150,624 208,528,430
44,214,200
1,839,572,603 1,919,601,230
MORGAN
OF SPRINGFIELD
vV
•*
NATIONAL
——
banks
4,395,176,028 4,059,024,773
Undivided
f
'
BROOK
54,976,345
discnts
Sz
*- .J
v
MEADOW
Deposits
217,877,216 186,779,700
Cash and due from
««■"»
hldngs.
curity
Loans
<
THE
.
.
8,371,837,148 7,603,678,217 U, S. Govt, security
:.v:""VV- v/v/pp-'$
holdings
29,590,907
Loans
&
discounts 116,593,902
2,213,717,908 1,741,736,972
iresources
"Cash
'
Total resources-.
Sept. 30,
1961
I 1961
,
Bank
'agreement
tional
June 30,
-
Jr.,-
The
24,714,351
1,098,095
si:
THE
J). McKenny
President1 of Easton
including i that
of
the
Comptroller of the Currency. V
.
Dec. 31,
i
out with four. employees,.
employs approximately 40
prime ' underwriter of
issues. It. has also been
Bank, has been agreed to,
subject
to? the
necessary
ap-
16,350,981
17,194,483
discounts
Undivided profits—
CO.,
Bank, Bal¬
tlonal
security
holdings
BANK
the
provals,
.a.
Govt,
Loans
FEDERATION
69,346,801
f0,835)697
resources
banks
U.
now
people.
J '>
During the past
8 the merger of - the two banks
under the name of Maryland Na-
■
>
.
$
80,786,665
Deposits
.V-
,
.
30,
1961
-
Cash-and due from
46,090,626
123,549,463
discounts
&
June
•'
1931
\ '
.
started
It
and
Easton, Md. it
YORK
.
44,844,093
Undivided
Moulton, has also
been elected a Trustee, it was an¬
nounced Jan.:9.
'
'V'VVV'V
COMPANY,
^
NEW
Dec» 31, *
National
timore, ?: Md.,
'
•
_•
Govt,
2,483,026
s
1,478,080
from
holdings
P.
39,034,53
Willis,
TRUST
242,353,577 209,175,286
——
Cash and hue
of
been
7
COUNTY
'
1958.
Board
the
on
which
of
Trustees
until
1947
KINGS
BROOKLYN,
Deposlt3
117,104,823
2.312,391
National
1961-■
1951
123,529,282
profits.
of Maryland
Sept". 30,
Dec 31,
!— 274,101,758 238,791,648
Total resources
been Chairman since 1958 and was
14,899,091
23.492,655
:
YORK
.
discounts
avjoint statement by Hooper
Miles,- Chairman of the Board
Jn
14,657,551
P
■'f.
'
-
-
.
,
'
succeeds
Benjamin
Strong, whose retirement was also
announced Jan. 5. Mr. Strong has
since
•• /
'•
'
-•
<
37,534,230
44,768,971
❖
S.
holdings
&
&
Undivided
76,391,92*1,
of
Board;
Calvin W. Clayton is President.
This is the third expansion move
made by the company since its
founding in 1945 when the firm
15,811,988
}
is
Chairman
the
179,916,417
holdings
floor
Comstock
Clayton
Calvin W. Clayton
201,016,931
24,542,478
Government
security
66,510,3^
^: 19,310,823
Undivided
CONN.
from
due
9th
en¬
of 147 -Milk St.
C.
186,194,529
and
Loans
;
.
tire
TRUST
207,812,202
resources
S.
>
Govt, security
Loans
OF
BANK
NATIONAL
GRACE
U.
>
1961
'87,213.319-
-
9,259,440
COUNTY
banks——
i 77,703,305
banks
U_ S.
'«
THE
V
FAIRFIELD
fa¬
occu¬
pying, the.
*
COMPANY, STAMFORD,
Cash
Cash and due from
•
■.
who
-
Deposits
surplus
'
'i
:
•
Total resources-.^.-
10,154,418
Deposits /
/June 30,
cilities
90,033,914-
■
COMPANY,
1931,
..
90,242,758
228,730,664 208,666,181
profits.
and
expanded
"Dec. 31, '61 Sep. 30, '61
—!! v/V; " $■
Si!
Dec. 31,
securityVvUVV'V
&
—
YORK
.
64,106,680
discounts
&
Capital
execu¬
Ammidon,
Mr.
officer,
chief
and
i'
from
73,652,760
S. Govt,
holdings'—-
W.
Buek to succeed him as President.
As
due
banks
U.
THE
3,403,121
305,985,533 277,267,172
—
holdings
new
quarters
97,982,999
—,
discounts
Undivided
20,691,875
3,408,618
NEW
131,168,953
—
&
:v«-
*
profits.
*
;
Government
S.
.
32,205,766
TRUST
present
offices to
441,361,582
—
security
34,049,611
261,914,993 234,030,151
Cash and
Ammidon, Chairman
elected Hcyt
resources
Deposits
,'
-
^
Si!.
of
their
-$
-
and/enlarged
U.
33,998,520
SCHRODER
:
and due from
Total
June 30,
P/
June 30,'61
448,505,619
'
39,389,395
:PPPP.Z... $
trustees
'
•
—
Undivided
,1961
19 j 1
The
1961.
discounts
&
VfeV' ' NEW YORKpp'Pp
140,193,327
43,095,939
pfts.-
HARRIMAN
BROTHERS
BROWN
1.587,779,982 1,618,592,625
Undivided
June 30,
25,958,32^
holdings
the
387,614,674
Cash
YORK
1951
U. S. Govt, security
Loans
se¬
an¬
removal
Total resources—506,922,000
'
banks
(As¬
nounce
Deposits
154,521,894 143,015,593
97,783,947
85,719,727
resources
Deposits
banks.. 2,483,988,331 1,974,037,837
from
S.
hldngs.
curity
—
Pq fill
Total
Loans & discnts.
•Total resOurces40}051,937,327 8,976,722,069
Deposits
8,875,793,657 7,848,803,344
U.
485,934,767
change
TRUST
CONN.
A":—
Loans
740,084,947
AND
Dec. 31, '61
BANKING
Dec. 31,
*
BANK
COMPANY, HARTFORD,
due
.from banks—
•! U.'„ S.7 Govt, se¬
CONNECTICUT
banks
v
ican Stock Ex¬
si'-
sociate),
.
.1961
■
and
Cash
Sept. 30,
1951
4,467,072
*
*
*
SCHRODER
v
.
4,861,000
Stock Exchange, Boston
Exchange, and of the Amer¬
Stock
195,262,892
profits—
—'
p,
76,926,234.
195,529,125
2,101,842
HENRY
Securi¬
Corporation, members of the
'
• > *vu Y '
1,941,298,936
2,266,363,240
Undivided
31,737,659
110,604,650
ties
Midwest
86,384,521
discounts.
&
'•/•'
■
'
>.
2,530,823,494 2,199,650,365
resources.
Deposits
YORK
NEW
•
BOSTON, Mass.—Clayton
37,993,393
S. Govt, security
91,204.701
;.P/'pp.
J.
56,389,998
—
26,245,271
31,807,487
CORPORATION, NEW
Total
BANK,
MANHATTAN
CHASE
THE
•
231,461,337
from
holdings—Loans
THE
—_
»:v- *
Sept. 30, p
:P 1951 A-,"
-
*
*
U.
profits.,.
<fc
Undivided
;p- 1
banks
discounts
holdings
YORK
NEW
COMPANY,
; V
1961
366,816,912
$
•;
y
.•
•'Clayton Securities
•In New Quarters
June 30,
322,866,765 287,256,541
Cash and due
151,192,630
134,329,795
40,352,630
CO
I.
Deposits
Govt, security
sj.
Loans
/'p'P'.p/p
5
■
U.
1944.
since
bank
due from
banks
has
and
j.
and
Cash
Thursday, January 11, 1962
.
Total, resources-^—
AND
1951
'
1
1§5,844,442
158,816,572
resources.
TRUST
1961
June 30,
•
HOSPITAL
-PROVIDENCE,- R.
;
YORK
1951V ■
.
1',.-
Total
BANK
ISLAND
-
Dec. 31,
'.,'*
■■
-
NATIONAL
V
7
■'
\
•
•
-*•#.
*
STERLING
TRUST
Officers,
RHODE
capital
in
increase
an
change of headquarters to
a
.
.
was
of
u
-
honorary chairman.
Joins McCarley & Co., Inc.
'
SOCIETY
Computer Processing Associates, Ltd.
NATIONAL
BANK
r*-!;" - ' i-,,.CLEVELAND, OHIO
'
r/'.''•>/-*':.5
Dec 31,
S&pt. 30,
1961
Common Stock
'
.
•*
~V.'
-
value
lc
share)
per
*
V
/
I?.."'
^
■
'
>
j-'.
-
Total" resources-'—/
'
(Par
COLUMBIA, S. C./— Frank Wy
Lachicotte, -IV has -? joined Mc¬
Carley & Co.; Inc.-, members New
OF
Cash
and
due
u. s.
GovrsecurityZ
holdings
Loans
York
' J
Stock
Exchange, in their
Columbia, "South Carolina office
'
in
Security .Federal
Building.
_c<0Formerly
he 'was
with
A.
C.
from
h,n.
Price $1.25 Pei* Share
*
1961
470,049,642 455,648,167
433,279,719 414,769,472
Deposits
.
,
$
'
'
-
•
' Allyn & Co. in their Miami Beach
C-ffice.'
123.431,290 112,988,648
& discounts.
233,796,593 230,267,451
profits- /. 1,419,616
; 2,039,234
Undivided
'
-
:
;
■'
'
:
;
- 4 ;
-
f
;
.
Twin City In v. Women
CONTINENTAL
Copies of the Offering Circular may be obtained from the undersimed or other
dealers or brokers only in States in which these securities
may lawfully be offered.
BANK
V
AND
ILLINOIS
TRUST
CHICAGO,
-
*
.
'
:
'
'
Dec. 31,
1931
.
ROAD,
LOCUST
SHAW
VALLEY,
L.
1.,
N.
CODE
516
ORIOLE
City
Investment
June 30,
will
Women's
Club
1961
hold;
$
3,777,436,985 2,845,558,720
the
.Deposits **/_—'— 3,312,740,729
2,464,134,748and
from
Y.
a
dinner meeting Jan. 17 at
due
v/:
banks—
Normandy
1-2759
.
_
•
s.
Govt,
se-
.
Hotel,
A Turner' of Kklman
1,089,021,062 -A666,305,662
T
•'"
•" -n
.
•
;
/
!
Inc., will be guest
«
-
u.
TELEPHONE:
To Hold Meeting
ST. PAUL, Minn.—The Twin
:
Total .resourcescash
BAYVILLE
COMPANY,
ILLINOIS
'
'•
ROBERT F.
;
NATIONAL
,
-
curRys hldngs.?- .'494.877,845
Loans.&discnts.'*.1,591,199,157
Undivided
pfts._,:_ 29,069,670
~
'407,711,6)2
1,358,161 057
-
17,992,149
'
subiect
•
{ments.
T
wi 11
'
•*
bO
x
•
i B.
A.
Company,
,
-
speaker;
"Drivatp
T^
.*/.
&
6
his
nlapp-
P
C
-
//-*"V■•/■'<¥
Volume
195
6124
Number
;
.
The Commercial and Financial Chronicle
.
insurance
to
STOCKS:
within
trend
merger
little
(183)
to
the
industry,
attract investor
the fire
and
entire
there
Middendorf, Colgate & Co.
was
attention
Middendorf, Colgate & Co., members New York Stock Exchange
with offices in New York,
Boston, and Baltimore, has been formed
to conduct a general brokerage
business, with headquarters at 51
Broad Street, New York City. Partners are Henry S.
Middendorf,
casualty stocks in
1961. Underwriting results are not
This Week — Insurance Stocks
likely to be
any
better than at
level for the
break-even
year
19
a
as
fire' losses and Hurricane
Carla prevented the recording of
the
expected
underwriting
im¬
provement over the results of 1960.
heavy
THE 1961 INSURANCE STOCK
MARKET—r
The
corded
remembered
investors
by
stocks.
Most
in
even
creases
.
1961 .will Vbe favorably
year
surance
\
,
in market value.'
impressive in-
more
in-
purchases advanced 7% to nearly.., reached
insurance
Earnings, from both
:
:
.
equities, both life,; and fire and
casualty, outperformed the general market and many recorded
price gains of substantial propor-
$80 billion.
tions.
,
companies entering the fire and
casualty_ field as a. result of theConnecticut General^Case decision
also benefited the stock prices of
the larger life insurance writers,
investment and underwriting
sources, will be favorable.
The
prospect of more life insurance
A number of reasons have been
insurance
cited for the favorable
■
market
action
of
the
past*.year,
'
A
these-have
of
few
to the
ficial
life
the
stock
insurance
and
casualty
This would ingenerally
favorable
market background with stocks in
groups.
the
elude
that had. beea °7oc
Lyf
vestors in the 1955-1960 period,
a rising
price trend. Second, the ^steady
improvement
in
the - domestic
economy
was
doubtless an-important factor as consumer and
industrial
purchasing power-for
general in 1961 enjoying
•
commodities
such
was once again m evidence; however, it is the; emphasis; of the
lmP°^ance of the industry s past
S, capturea lnv s o
insurance
as
attention as^ the extreme seRe¬
increased. Finally, both insurance
all-lines
towards
lrot-
rt
number
insurance
mar-
brought jibout
significant mergers
iiss
of
merger
of
rumors
have been helpful
i
oJt0r-
the
is
1955.
they were initially disby investors in 1954 and
Following
spectacular
the
volume and investment
translated
as
earnings,
values.
in
dividends
and
outlook
The
J. W.
Middendorf, II
°l+.th0|e.1ty; years' many
life equities
the
til
failed to advance un-
past
of 100%
1961, price appreciation
was
not
the
smaller
in
However,
year.
and
uncommon
life
of
many
companies
st0ck market
portfolio holdings
rising
own
re-
Stocks
book
here
is
en¬
life and
fire and casualty insurance indus¬
tries.
More important, however,
couraging
to
for
insurance
both
the
will'be
stocks
the
unpredictable aspect of investor
psychology regarding the indus¬
try and its outlook,- which, was
1961.
much in evidence in
Space Age
S. A. Van
who
Durum Securities
will
make
';
:
($)
1961
1960
...
Corp., 511 Fifth
Ave., New York City, reports that
94
94
133
Appoints Officers
The
First
Boston
A..333
-
198
398
282
116
-
86
86
101
-
55
78
-
70
-
57
57
53
77
39
49
58
70
70
64
140
53
59
80
105
91
173
-
85
96
172
-
89
90
-
26
45-
31
27
31
141
157
32
45
35
American Insurance.Insurance
-Boston
Connecticut General
Continental
Casualty.,
Continental
Insurance
Federal Insurance
—
Fireman's Fund
Glens
Great
155-
Falls
77
55
-
37
66-
48
90
-
57
112
Life———
Franklin
-
76
———,*—
American.
Fire
Hartford
57
53
Ins. Co. of No. America
Lincoln National—.
—186-
42
91
Maryland Casualty
50-
Insurance
—7694-
54
61
Reliance
.
77
43
226
30
100-r
Standard..
Jefferson
St Paul F. & M
—
47.- 34
Springfield Insurance
•
Travelers
174
U, S.
F.
81
88
& G—,,
U. S. Life
•"Adjusted
J
for
dividends and
stock
-
-
-
y
37,
,
;
42
42
one
the
at
132
Market
direction of
branch
S.
government securities
I.
This
.
STOCKS
managers.
Named managers, were
Head
municipal department, Boston,
Thomas
and
vestment
A.
Hunt
L. C. Kuebler
;
CHULA VISTA, Calif.—Lawrence
John J.
Street.
E
an
The
offer to sell
nor a
solicitation of
offer
an
to
buy
any
of these
offering, is made only by the Offering Circular.
January 11, 1962
Trio-Tech, Inc.
Stock
v
(Par Value $.10 Per Share)
Offering Price: $2.00 Per Share
UGANDA,
Copies of the Offering Circular
V
dealers
as
may
may
be obtained from the undersigned and from such other
legally offer these securities in this state.
in: ADEN,
ZANZIBAR
Exchange
Branches
KENYA, TANGANYIKA, ZANZIBAR,
7-350Orv
1-1248-49
UGANDA, ADEN, SOMALI REPUBLIC-
Specialists in Bank Stocks
EZRA KUREEN CO.
in:
INDIA, PAKISTAN, CEYLON, BURMA,
"!•
4
.
NORTHERN AND SOUTHERN
/.
V.
;
RHODESIA
..
-
...
in¬
Opens
112,500 Shares
STREET, S.W.I.
the
(Special to The Financial Chronicle)
A
Branches
SQUARE, S.W.I.
KENYA,
in
department, Boston.
Office:
ST. JAMES'S
Stock Exchange
BROADWAY, NEW YORK 5, N. Y.
the
74
PARLIAMENT
are
.
n
73
106
Bankers to the Government
others
department.
1
is neither
31
13
Laird, Bissell & Meeds
Bell Teletype NY
The
assistant managers are
William
A.
Bledsoe,
Perry
L.
Burns, and Sumner W. White, III,
all in the investment department,
New York; Richard B. Durand in
NEW ISSUE
29
47
54
Bought—Sold—Quoted
BArclay
new
27
26, BISHOPSGATE, LONDON, E.C.3.
London
Telephone:
department.
the investment
The
A v.;.:
.
C. Kuebler is conducting a secu¬
assistant
•;
announcement
1
INSURANCE
Members American
.
BANK LIMITED
and
Members New York Stock
'
rities business from offices at 373
Berliner.
securities.
stock splits.
'
120
•
five
Common
*
de¬
First Boston also announced ap¬
NATIONAL AND GRINDLAYS
BANK
pal
in
.
Bingham is in the munici¬
pointments of five managers and
Ontell, and
Street, under
Abe
the
partment;
and
Robert
V.
Mc¬
Carthy, who joined First Boston
in October, 1941,
and is in the
municipal department.
office at 7 Smith St. under the di¬
rection of Nathaniel J.
36
111
78
71
78
92
41
42
a
A.
Cooper, who joined
First Boston in January, 1951, and
is in the investment department;
Charles B. Marasco, who joined
First Boston in May, 1959, and is
communica¬
Co., Inc., has opened
Mr.
22
v. 43
168
34
.
92
&
20
107
36
20
38
90
.
James
Scott, Harvey in Paterson
22
£.
47
72
58
61
St., New York City, has
announced appointments of three
Vice-Presidents, all in
the New York office.
They are;
PATERSON, N. J.—Scott, Harvey
44
75
156
Broad
in
47
75
18
45
42
Life
Insurance-
the
Cleveland.
Corporation, 15
Assistant
<
42
Aetna
for
Bingham, H. Boyd Edwards, Jr.,
and Charles E. Walsh, Jr., New
York; Samuel McC. Yonce, Pitts¬
burgh, and Ambrose S. Hotaling,
First Boston
tions field.
%
-
Aetna
.
...
162
_•
Henry S. Middendorf
its recent offering of
Apprec.*
(#)
.
Casualty
1961
Year-End Year-End
19(51
Price-Range
Company—
Steenberg
his
headquarters at the firm's Boston office, 19
Congress Street; J. William Middendorf, 2nd, member of the New
York Stock Exchange; Austen B. Colgate, Schach A. Van Steen¬
berg, William C. Mueller and E. Phillip Hathaway, who will be
located at the Baltimore office, in the Keyser Building.
Materials
components
Price
Aetna
Colgate
g
Selected Insurance
*
Austen B.
in¬
-
£.ains
William C. Mueller
higher
100,000 com¬
As the industry mon
shares of Space Age Materi¬
apprxjmately one-third of its
als Corp.,, at $3 per share has been
invesf^ents in common stock '
all sold. Net proceeds will be used
equities; the increases in surplus* lo'y the'company for additional
many instances were substantial
Tfie fav0rable investment equipment, research and develop¬
ment, sales and advertising, and
background and a generally ris.
working capital.
premium volume also perThe company of 48-67 58th St.,
mitted
a
continuation :of -the
Woodside, N> Y., and its subsidi¬
steady gajns in net investment
ary, Pax Electronics Co., Inc., are
income.
engaged in the design, develop¬
In general, except for the in- ment and manufacture of
high
vestment performance ; and the temperature
materials
for
the
favorable aspects of the growing space, nuclear and missile fields
and the production of electronic
since
covered
lifp
and book values
investment
2VP, 'frorgroup have-h^ performed favorably
their
on
fn+Cvf St CkS'
the
the
fectg
thak^l^y /Were^
by
.
1961 was an excel¬
lent year for investors in insur¬
ance
equities. What is in pros¬
pect for 1962?'
Insurance stock
prices are likely to be affected
by the anticipated gains in pre¬
marlket Stock Sold
^
~
llfe
year
rediscovered
group
+hf
ualty stocks benefited by the ef-
mc>ve.
1961
nf
less wel1 above the aPPreciation
a
.
-
In summary,
fire
tho
of
less than those of the ll±e
underwriters, but were neverthe-
sfhtahlv^pwa^^ln^^mnsohda6
suitably rewarded in a consolidation
armther
to
insurance
<wL-.
'
were
sto^k prices of
number
insuranceP companies whose
the
to
mavlcpt
'"php
addition
Tn
tfrnuiui
® 0
an^ "Sbaltv
fiff
between life insurers and fire and
paqiinltv
group
a
The
continues in favor of life equities.
Un
which,
keting
a
jjY1?^ .on®
0®]
in^,,
benefited from the trend
groups
satisfactorily profitable
results in other lines,
—marine,
fidelity,
surety,
ex¬
tended coverage, workmen's com¬
pensation, homeowners', and gen¬
eral liability—were on a barely
profitable level." "'
'
•
level.
Nevertheless, there was little of
concrete news in the life insura"ce industry in 1961 to justify
the sharp market rise The con-, mium
f? 4ei?
in(^ustry 6^Qwth_T;record, come
prices of both
fire
and
bene-
been
•
The year 1961 was a record one, Automobile underwriting showed
f°r- sales of life insurance as new improvement, but has not as yet
h
26
<
"
.
t
"i
-
•
•
•
*'
•
Broadway, New York 4, N, Y.
r
20
The Commercial and Financial Chronicle
(184)
,
shunned,
rail¬
greatest gain net assets on May 31, 1961, close
$3.32 to $4.57• of the last reporting period; were
\
$47,694,105. Asset value per share
Share value increases for the rose to $12.21 on Nov.
30, 1961,
other funds were:
"
,'
' from '$10.15
a" year earlier and
46.4%, or from
per share;-
folks will remember when
so
hot that the public
bought into moose, pasture in the
Canadian wilds, only to be fol¬
lowed by a period in which such
premier
investment
issues
as
Standard of Jersey and Amerada
C. POTTER
BY JOSEPH
were
-
Electric
from
.
What Growth Is
This
a
dynamic, changing
and the rewards in the
marketplace are calculated to go
led by
locomotion
responsibility
charged with the
of
selecting growth equities. A longtime bearer of the burden is Massachusetts Investors Growth Stock
annual
policy is "to keep assets in-
Canadian
Fund,
net assets of
,.
$37,574,113
a
I-
its
Canada
General -Fund
share
states
that
distributed
report
The
assets
monthly
the
all-time
to
Share value
to
payment
May 31, 1961,
on
*•
4s
-
«•
was
;
-•
i
' V
-
.
ended Nov. 30 net asset Value per
advanced to $6.83." Share
share
value
on May 31, close of the last
reporting period, wqs $6.86. Total
programs
net assets increased to $39,050,428
on
Nov. 30 from the $35,574,249
reported
earlier. Net assets
were $40,390,983.
a year
May 31, 1961,
on
;
•
*
•
Shares
shareholders
of
$12.09
1960.
30,
Institutional Income Fund reports
that during the fiscal year that
investments
number
to
Nov.
on
s$»
"
•
major factor in the
the substantial/total
by
4,500
shareholders. They increased
total
advanced
$12.30.
record
a
last
reporting
May 31, 1961. Per share
on
$10.13
lifted
increase
$142,496°614 at
the
value
from
was
initial
new
tJ an
rose
of
asset
Another
growth
of
*
year and
close
period
importantly to this
according to the report,
growth,
value was $16.18/ and. "is
greater than the value at the close
of any previous quarter." It com¬
pares with
$13.04 on. Nov. 30,
1960.
"
•
the
Elee-
&
contributed
quarter ended Nov. 30 net
♦
net
atic
asset
Hollywood.
Receding
V
high
of $14,416,569 from $9,666,220 ,a.
year previously.
The practice of
many
shareholders of regularly
adding to holdings under system-
earlier. .
':■>/'//-J:////v/
at the
annual
total
with
compares
and. $15.48. per
ended Nov. 30
!,:
Chemistry
shareholders.
$41,730,995,/or $18.46
*
institutional Growth Fund reports
net asset^ during th^i fiscal year
year, ended Nov. 30, according to
for
reports
May 31, 1961.
on
*
tr01lics Shares recorded a 49%
:gain in net assets in its fiscal
-
year
f'Jty.■
froni, $2.33 to $2.90.
!!
ItepOrL
Inc.
shares /'-This
per
friends and many litigants. With
•/V; :'r, long-term growth" in
''
Shares
the fiscal year ended Nov. 30 total
vested, except for working cash over $4,000,000 worth of Metrobalances, in the common stocks of Goldwyn-Mayer and $2,260,000 of
companies believed by the man- Paramount Pictures, the people at
agement to possess better than Massachusetts Investors obviously
average prospects' for long-term" believe there are "prospects for
growth."
URCLS
r
-4-
•
from $11.83
Shares—from $3.22
Nucleonics,
•
Shares;
General In-
$2.87;
de¬
of
!
•
Ill6
The third and last of the newcomers is entertainment which, in
The company in its 29th this case, means the movies. Not
report, states its invest- so many years ago they had few
Fund.
ment
-
,
•
■,
!"d °inn & Co. rounding out
*
abreast
are
to
to'
$1.97
velopments.
wit^HolhRinehart & Win-
ine sec*l<;
who
those
$2.71
Electronic
?
is
economy
to
&
^stries Shares from $3.35 to
!o ooi ^
Shoatfes from $2.06 to
spurned./
were
represent better than 4% of the
company's hefty portfolio,
Not far behind this newly-favored group is a category that
it.
Of course, many folks would would have baffled even a pro¬
be better off if they" had never fessional a few >years back: edur
pursued growth.
Too1 often, the cational publishing. Toting up to
chosen
vehicle has shown little nearly 3% of assets, the Sr(^P 1S
paraphrase the old maxim
about
the
weather:
everybody
talks
about
growth stocks, but
some people
do something about
To
Thursday, January 11, 1962
.
of
young
oils
.
Shares recorded the
And
than
more
even
roads and textiles are today.
.
*
•
of
Investors
Selective
Fund, Inc. increased in value dur-
#
.
by 37% to a record high of 16,- ing 1961; and dividends from inHaving viewed the dead and
'
Composite Bond & Stock Fund 630.
'
vestment income and total net
the new-born, the transformed
reports that at Nov. 30, close of
Over the fiscal year the/ fund assets rose to new highs at the
picking the growth issues, the in- also are worthy of note/ The fund, its fiscal
year, /total
net assets reported an appreciation of 8.76% fiscal yearend, Nov. 30, Harold K.
dustry classifications that com- it is disclosed, has been beefing
were'
$9,281,748,
or
$20.45 per in net asset value to- $13.64 a Bradford, Chairman of the Board
prise the portfolio and a compari- up its electric utilities division,
share.
This
this
Since
done
has.
son
of
7
is
a
that
job of
company
outstanding
an
with the 1956 breakdown
than
more
vesting
performer
public
Retail-
-/•/■/'":;
1.2%. of
the portfolio .was automotive. In
those days General Motors was a
standout
compares/with $7,565,946 and $18.76 a year earlier.
which has gone from 2.3% in 1956
to 10.2% at latest report.
passing interest.
that in 1956
We learn
are
,
the
and
i"*'
iPol/
machines
o%:to 10 2%
have
neM
4
Corporate
Lw S'
Of
soared
Leaders
Nov.
on
The 33-year-old Wellington
set
Fund
Trust
Fund
Net
highs for the fiscal year
new
President, announced in the
annual report.
*
\/
value
asset
share
per
on
Nov. 30 amounted to $10.13, corn-
reports
ended Nov. 30, Walter L. Morgan,
pared
end of the fiscal year
that at the
from
*
aod
*
-
*
" •'
si:
-
President, reported to sharehold-
viousiy.
ers.
record
Certificates,
Inter-
course
*
snare.
Series
30 net
B,
assets
at
were
an
with
$9.90
a
year
pre-
Total net assets reached a
yearend high of $30,959,885
couldn't get
"Total assets increased during as of Nov.► 30, compared with
ctoi-■-■nationalBusiness MLachines is the .allrtipie .high "tof $71,269,426,. up
from ^ the $53,433,611
though
wished' they fund's bi^est holding ($32,|90,- lier. Net asset value a year ear¬ "the year by $335,000,000 to a rec- $27,841,757 at the prior yearend.
per partici¬
ord
year-end figure of $1,422,- •
/
• ''
'
••
^
hadn't rushed iri. Administrators of
:
;
pation rose to $22.66 from $18.63 000,000 Slightly over one-half of
K. B. Kirk Opens
Massachusetts Inves^rs; long ago in
a issue goes a long way to at Nov.
30, I960.
/
this gain resulted from generally1-7'110'
cooled off ,on auto stocks which explain the growth in this cate#
♦
*
higher stock prices,, and the re-.
(special to the
chronicle)
are
not even represented in the gorY*
°
,
nnrtiiah''
iT/vvri
just
i\/Tr>fr»v
people foon
•
.
^
,
.
,
,
similar
A
Diversified
•;Banks and credit companies also
present holdings/
percentage of \ the
portfolio (total net assets as the
-fiscal year ended on Nov. 30 were
ports
?going from
0 4 8/oOn the sad side, there is nothing
over
$582 million? was in glass to match the fall from favor of the
products. Like the autos, the glass petroleum stocks. As recently as
of 1956 is gone.
1956 they were the darlings of this
Aviation
stocks, which made
up
1V2% of the holdings in 1956, likewise have vanished. The other and
biggest clearance has been in oilservice
issues,
prised 2.7%
of
which
the
once
com-
whole.
Investment
mainder
earlier.
With $8.36
Total
net
from
ptirchases of ' BEVERLY
net
Wellington shares by investors.
share
per
Nov. 30, close- of the
on
fiscal year, compared
year
Fund re¬
Value
asset
$9.69
was
/o
net
The
-
net
asset
share increased
a
assets
of
value
to
a
each
curities
record fiscal
high, of $15.67 on Nov.
climbed from $92,470,478 to $108,30, an increase of 20.5%^; from the
318,034.
• ^ / ; ■
/ • '
- / net asset value of a "year earlier
The
percentage increase/ is "ad¬
Energy Fund reports that at Dec. justed
to include the year-end
31 total net assets were $28,714,capital gains distribution of 51
673, or $24.58 per share.
This cents a share, the largest such
compares
with
$15,118,656
of payment in the fund's history.
assets and $21.35 per share at the
jjs
4: ■
' v.
7:
fund, accounting for 22L4 cents of
fu
dollar of assets. The closest
t".lng *° £.ei? )vaf
*ai?
^lnin^.'u w c
took 10.8 cents,
°w 1
PJtroleum division is
down to 13.7, where the utilities
HILLS,
Calif.—Ken-
neth B. Kirk is engaging in
..
business
from
a
se-
offices
at
South Beverly Drive,
•// -*
^49
year-end
'
"
;'
;
11
1
THjET rev;
Lazakd Fund, Inc.
-
.
of
end
44 Wall
St.,'
New York 5, N. Y/
Dividend Notice
1960.
American
Business
Shares
had
and business machines threaten
*
'I'
*
;
total net assets of $29,088,942 and
to overhaul them. As for specialty
In
its
annual
report,
General net asset value per share of $4.98
rhncotfo t
<°
metals and mining, they've slipped
in« fn
foVGS^S
n w*nC to 3%> embracing in order of im- American Investors Co., Inc. stated on the 5,843,947 shares outstand¬
that at Dec. 31 net assets were
ing at Nov. 31, 1961, the close of
nof
r grouF^ which portance Newmont Mining, Internortfolio ffjp
m
national Nickel, Aluminum and $65,632,232, equal to $32.60 per the last fiscal year, Harry I.
p rtfolio five years ago.
_
it™™
unfnmaf;,,.
rwrnHiiMc-
-i
•
_
4.
;
aviation,, glass
service, Massa-
The Board of Directors today declared
the Capital Stock a
on
from
q
net
new
leading light is the
photographic products group, with
the biggest stake in
Polaroid, fol-
lowed
by Eastman Kodak, Bell &
Howell
and
Instrument.
Fairchild
Those
Camera
four
&
stocks
In
all
this
lesson for the
funds—and
them
too.
will
man
there
man
for
recalling that
met
is
a
valuable
man
,
■;"..
buying
utilities
having been sold, this advertisement
as
a
matter
of
record
31, 1960,
the
per
assets
$5.83
only.
share.
of
fiscal year, net
preceding
*
January
11,
■
1962
Managed
it tl Mt<< i
.
*
*
compares
the
on
100,000 Shares
Space Age Materials Corp.
.
Inc.
net
value
(.Par
dividends
(
*
S&
payable
L. T.
/
...
/ *
January 8, 1962.-
Mutual
assets
rose
to
per
share
of
funds
advanced
Janu¬
'
.
Melly
T recisurer
V;
•
.
-.
Special
Investment
re¬
Dec. ^29 net assets
$17,361,908, or $22.99
This compares1 with
''per-share.
during the
year.
Inc.
at
amounted to
all
fiscal
that
Fund,
~
THE
$14,887,130 of assets and $21.57 a
Oct. 31, close of the fis¬
cal year. ;:: •'■/,/.'.'/■/• ''/•'
share at
,«
'
_
,
,*!'
11
Institutional
'■.*!*■
V:
Foundation
reporting for the
year
•
.
"
'
•'I y.
DOMINICK FUND, INC.
■.
A diversified closed-end
Fund,
Investment
ended Nov.
disclosed that total net in¬
creased to $54,981,720 from $35,942,319 on Nov. 30, 1960.
Total
30,
Company
Dividends Number 152 & 153
QUARTERLY
DIVIDEND
5per share
Value
$.10
per
share)
SPECIAL
DISTRIBUTION
REALIZED
•
PRICE:
•
Affiliated
•
$3.00 Per Share
$1.00
Both distributions
Fund
ary
for
V;.
#
of
*
Durum Securities
Corporation
511 Fifth Avenue
investment
its
and
a
g:r*>wth
reasonable
Prospectus
seeking:
possibilities
of capital
company
shareholders
longr-term
current
income.
the
at
—
Chicago
—-
elect
may
Capital Gain Distribution and
Ordinary Dividend in stock, valued
request
value
asset
on
January 31, 1962,
in
or
"rounding out" fractional share for the
ment of both
Atlanta
payable February
the lower of the market price or net
Lord, Arbeit & Co.
—
share
the Capital Gain Distribution,
both the
account of each
New York
are
-
cash. The transfer agent will purchase a
upon
New York 17, New York
OXford 7-5270
per
FROM
GAINS
19, 1962. Each stockholder
to receive
or
•An
fOUNOl*
CAPITAL
15, 1962 to stockholders of record Janu¬
A Common Stock Investment Fund
•
are
31, 1962 to stockholders of record
,
*
ports
reported
seven
Common Stock
Both
•
..
5,899,292 shares then out¬
.
at the
or,
stockholder's option, in cash.
.
»
$57,345,273 during the fiscal year
ended Nov. 30, a 13.8% increase
from the total a year earlier of
$50,370,751.
Combined assets on
May 31, 1961, the close of the last
reporting period, were $58,920,085.
Asset
payable in stock
„
standing.
.;
*
*
total
is
year.
Funds,
combined
$1.59 per share
ary
Guardian
NEW ISSUE
dividend from capital gains of
a
1961, total net assets were $28,- .:
January 8, 1962.
155,716, equal to $4.77 per share
$157,238,203
fiscal
equivalent to $4.24 a
of
the
5,981,079
outstanding. On Aug. 31,
And
which
each
on
shares
/
assets amounted to
$25,363,096,
share
and
share at the end of the
per
2nd, Chairman, said in
annual report to stockholdAt the close of the previous
ers.
$
This
..
Prankard
common
to
fiscal year (Nov. 30) total net as¬
sets amounted to $275,955,704, or
were
with
appears
Dec.
'■/
t
$7.65
All of these Shares
On
applicable
middle-aged Investors Variable Payment Fund
difficulty in -reports that at the close of the
a
no
once
asset
equaled $27.70 per share.
selling mutual
the
Many
have
share.
common
Reynolds Metals.
of
$.08 per share
\A7PrA
The
cash dividend
investment income
Los Angeles
stockholder electing pay¬
distributions in. stock,
JOSEPH
San Francisco
.
S.
j
STOUT
Vice President and
Secretary
'
•
On
Volume
195
December
Number 6124
r
The
18, 1961, in New
Commercial and Financial Chronicle
(185)
21
York City,
Aluminum Company of America gave a
pre¬
sentation
Alcoa has abundant
before the New York Society of
Security Analysts. Speakers
were
bauxite
Lawrence
long
a
.
range power
LitchfieldfJL, President; T. W* Bossert, Vice
President, Research and Development; Fred¬
smelters at costs which will
erick
J.
in actual
Sales
Manager. Following
Close,
production for
Vice President and General:
tional
highlights from
are
ing in
Management
the
response
...
With
competitive challenge with determination
and
imagination backed by
ization..
;
a strong organ¬
%
;
Despite the problems currently faced by
industry,
we
have
are firmly con¬
ahead aluminum will
at
and
large,
share in this
growth.
'
fyj]y3ptenid
;
.
area.
Only in this
plan intelligently for
facilities, and have all
our
complement the aims of
.
thoroughly familiar
men
future
our
supporting services
our customers.
an
antici-
of aluminum
use
only 35% debt in
our
capital structure
equity to debt ratio of about 2 to 1,
in
a
strong position to take advantage
opportunities ahead for the in¬
as a
Key to Leadership
% We regard research and development at Alcoa
% asSone T>f'bur chief sources of competitive
to
V
; -
,
in the industry.
of
important market
way can we
be added
can
sizable current market and
Research
and in the world
X)ur .parLawe
an
we are
increasingly important role both in
an
the United States economy
which i$ made up
with each
long lead
a
department is market oriented
strong central marketing group
dustry and for Alcoa without equity dilution.
of Alcoa
vinced that iri the years
.
a
fabricating operations aimed at shar¬
of the many
•
our
.
with
,■
.
throughout the world. %
has been to face
.
a
.
planning and construction of addi-.
pated sharp increase in the
;
.
primary capacity which
overseas
Meeting the Competitive Challenge
supply at all
permit economical
years to come
for the lowest cost-per-ton
their: remarks:
Alcoa's sales
supplies of high-grade
~
strength—and
mote
v
one
aluminum
of the best
ways to pro¬
progress.and Alcoa's leader-
ship in the aluminiim industry.
One
of the most
research has
%
important
of
our
One of Alcoa's most
been'and, continues to be, the
production of the metal from its
v
,
areas
constantly working
on
ores.
We
the
are
improvements of the
from the beginning. Today, it is
vastly improved
one
a
from the original, andT
.
.
we're
.
already in several large projects—New York,
St.
•
Louis, Los Angeles, and Pittsburgh—with
an
S- Bayer-Hall process which has been the stand% ard process
exciting prospects in
building field is urban renewal
equity position in each.•
Within the
equipment
rate of
transportation market; railroad
may
experience the most rapid
growth. Our studies indicate this
per year may
use
be doubled by 1965.
% In 1961, aluminum went into 50% of the
cans
used for
We expect
packaging frozen
ably higher next
the
;_•;>•:y--Mr. Lawrence-Litchfield, Jr.
good that aluminum
future
to
pack
items.
2;During 1961, pre-tax income
6.8% of
gross revenues versus
if reflecting
-
costs
our
was
.and;improving production efficiency.
We
are
revenues
Should this
should be
increase
happen >•.
:
our
.
can
Alcoa
Mr. T.
1962.
net income next year
substantially higher.* From
we
feel
have
any
quite positively that the
W. Bossert
process as we
has
a
A.'';-'*:.V-
use as
•
.
support for mobile,
uses
about
plate.
product,
a
flexible
organization, and imaginative, aggressive
people. We think these factors justify our faith
in the
bright future of aluminum and Alcoa.
developed and used it is unexcelled- in
—CJi.■**
that
we
shall retain this
—
*-
.r
quite different processes strongly intficatertcr
us
armor
versatile
%%Resuitsrobtam
of incrementahcost advantages implicit in our
present situation.;
v
striking forces; An example is the
% given l^vcl.oUshipmfimts,^ach/.a.dxlition.aL >, efficiency. by-any other producer in -thexvo-ridv
/
other household
personnel carrier, which
aluminum ballistic
shipments and
about; 10% in
think the odds
will be used in
10,000 pounds, including the newly developed
improvement.
hopeful that
will
M-113
industry
Alcoa have turnedVthtTcorner and
look forward to further
-
airborne
com¬
applications include lightweight
military vehicles for
in; reducing overhead
success
we
cans
many
'
Defense
6.0% in 1960,
We believe that both the aluminum
and
running
juice.
Despite the fierce
year.
petitive battle with tinplate,
are
orange
that this figure will jump consider¬
position.
-
ALUMINUM
COMPANY OF AMERICA
22
(136)
The Commercial and Financial Chronicle
Refining
CO-AUTHORS
Petrochemicals:
or
chemical
billion
lion for
all
.»
•
•
;
Continued from page
is
a
evident—beyond
ctouDi—mai
we
'
•
T.
1
are
,t
.
.
•'
.
t
m
me
Many
iniubu
years ago
tS.S
There
in
the
i!
o.el
entire
-1940
the
chemical
be
between
chemical
industry
vestment
ammonia—is
in
which-
petroleum
$6
1931 to
Period Covered:
and
industry.
million.
was
7.8
11.2
9.0
Petroleum; % per yr._- 4.5
In
a
,
2.<
Natural gas,
%
per yr.-'
TABLE
mere
Net Income
plant in¬
petrochemical
the
1957 to
195j*
Petrochem.* % per yr.—14
Because
in
Growth Rate
Annual
investment in the petro¬
$315
particularly
Of
2.7%.
the
$7 billion. It is believed to repre¬
sent nearly 60% of the assets of
Qnd
being produced daily
United States .Which
of
to
SSft KS.SKr.3~
chemicals
investment
estimated
was
ammonia could
II surely
was
that
ceeds
bil¬
industry in manu¬
facilities is, presently
the
l'.",S»S2rW"'a"Wla"h''°"
$6.4
facturing
the^principa1 raw m ateria 1;
of
to
$10.4
with
petrochemical
-
ammonia and methanol, coal
shadow
a
1.1,
.
Thursday, January 11; 1962
chemicals.
capital
'
:
amounted
.
TABLE IV
The
Which Division. Will Win?
sales
compared
!
.
■
•
Dollar of
per
Worth
Net
-
V
-
'
, '
;; •!'. •'
1931 to
1957 to
has been increasing at
i" Period Coveted:
Jo'q rate, it is expected that
Chemical indus., %—17.5
12.8 ,
the
capital investment in 1970
McGrath
L. R. Hill
Petroleum, %--J6 2
io.z
may be on the order of $12 billion.
All manufact'g, %---14.7
,11.3
in
government rubber - styrene
In Table III a
comparison is
'(GR-S) >. synthetic
rubber.
In, .presented for capital expenditures ^.Statistical data on- tl1©
either case the benzene is first- for'new
petroleum refining facili¬ petrochemical industry—-as distLn-^
reacted
with
ethylene to form ties and petrochemical plants. The .guished from the chemical mdushave sometimes been dit—
ethylbenzene.
Upon
subsequent investment in new1 facilities for
under cultivation. An increasing dehydrogenation the styrene thus
segregate.
Hence,
in
the chemical side of the petroleum ficult! to
chemical industry.
awareness that greater use of ferformed is ready to be converted
Table V a comparison is presented
industry exceeded that for petro¬
Periodically we hear vague tilizer
was
the
best
to polystyrene for plastics or re¬
of the net income per dollar of
way
to
leum
refining in 1958 and for
rumblings
of
overcapacity
and increase and maintain the
produc- active ! with butadiene ta form each year' since that time. It is net worth for the chemical indus¬
possible reduced growth in the
GR-S synthetic rubber.:
tivity of our soil while simultanetry petroleum, and all manufac¬
further anticipated that this situa¬
;'y
chemical industry in the future.
ousiy
decreasing
the
cost,
of
turing
operations.
The
figures
Petrochemicals
are; ordinarily: tion will continue indefinitely.
It is a well-established fact that
production has been largely re- classified in three
represent
the ^five-year
period
Igroupsr aliphat- •
the petrochemical segment of the
In 1961 it is expected that the
sponsible for the fertilizer revolu- ics;
1957
to
1961
inclusive
and the
aroftiatics, and inorganics. In annual rate of capital
chemical industry has enjoyed a
spending
^on
;
preceding 25 years. In chemicals,
1961, the probable production of for new
far higher growth rate than the
equipment and plants in
It' has been reported that the the different classes of
petroleum, and all manufacturing, compounds petroleum. refining will be
industry as a whole.
ap¬
Neverthe-; most profitable rates of applicaprofits
have
been
is.expected to be.as follows:' ; - v
significantly;:
less, with the continuing support
proximately $0.6 billion and will lower
tion> if used at optimum levels of
during the past five years
of the strong research and develAliphatics
-43 billion lbs. per yr, increase to $0.9 billion annually
0ther practices, would correspond
than in the preceding 25 years.
Aromatics
6 billion lbs. per'yr. by- 1970.
opment arm of the industry, couToday capital expendi¬ In the 1957 to 1961
to five to ten times the total curperiod,; the
pled with intelligent and aggresInorganics 1- -16 billion lbs. per yr.;! tures ! ;i6r r"^riew:
p
rent use of three primary plant
return for chemicals was highest
sive leadership, the
industry will nutrients:
plants are estimated at $0.8 bil¬
•In
recent
nitrogen,
phosphorus,
years : the ;averageat 12.8%. Petroleum refining was
continue to prosper.
lion. By 1970 the annual rate of
and potassium. The implication of price per pound of the aliphatics
10.2%
and
all
manufacturing4
such a volume becomes immedi¬
was
15.' cents, of aromatics! 19 spending for new plants in the 11.3
Principal Basic Petrochemicals
!;iV^4v:V
field of petrochemicals is expected
ately apparent. '•*
•
cents, and of inorganics -2.5 cehts.
The capital investment and pro¬
to be $1.4 billion and far exceed
Developments in the petrochemMost oil companies are using
duction of the petrochemical por¬
that for new oil refining plants.
ical industry have continued to
Size of the Industry
natural gas for ammonia production of the chemical industry have
occur at a very
rapid rate. Ijn ad- tion. An ammonia plant may be
The following survey is' based
TABLE III
increased
better
than
fourfold
dition to the basic
building blocks converted to production of meth- solely;on the domestic petroleum
from 1940 to 1950. From 1950 to
; Comparison of Capital
and intermediates such as
ethyl- anol, the second largest volume refining and petrochemical indus¬
1960
the
Expenditures
industry
more
than
ene, propylene, the various butylproduct from methane. Production tries. A study of the world-wide
■>. Petroleum
Petrotripled. A high growth rate is
enes. acetylene, synthesis gas, am- of methanol is now over 1.5 bil- picture is outside the
scope of
Refining:
chemicals
expected to continue from 1960 to
monia, methanol, benzene, toluene, lion pounds
the present report.
Year
*
-; <$ Billion)
($ Billion)
per year and is grow" ;
1970V A'$!Jl;he0ihdustry increases in
and the several
C8 aromatics— ing. It is used for
1955
:
0.8
•;■■■■
0.5
formaldehyde : In Tables
I and II statistics; re¬
size, the growth rate declines but
notably pxylene—there have,beep4Jjpaanufacture,
0.9
u
0.7
antifreeze, and
the' absolute growth4
lating !tp the magnitude - of
many newcomers in recent years,
ip large;.-*
0.9
solvents.
\
"
'
0.9
petrochemical industry relative to
The
data
show
the
chemical,
Epoxy resins are just one example
^ 0.6,
0.7
Ethylene1 (CnH*)
follows am- that of the chemical (manufacture
of many which have
industry — particularly the petro¬
appeared in monia as the
0.5
0.7
second highest ton-: of basic;
and intermediate chemi¬
the plastic field. Urethane foams
chemical
segments—to
be
both,
0.5'
0.7
nage petrochemical supplied from
cals) • industry are presented.:In:
fast growing and profitable. It is
: ■:
:
o.6
0.8
?a.ve^
rS,en r,eceivli?g a
petroleum and natural gas. Eth- the former a
attention.
comparison is made
The domestic produccharacterized, however, by high,
0.9
1.4
yiene is an example of an olefin, on a production
tion
of
each of
investment per unit of production
;basis and in the
the
previously Two of its well-known uses
today latter " on a dollars ; of sales basis.
Estimated.
mentioned materials
and rapid technological obsoles¬
probably ex- are
ethyl alcohol and polyethyl- During i960, total
ceeded 6° niiihon pounds
petrochemical > .It is hard to
cence.
per year
find an industry
ene. Years ago
ethyl alcohol was production. was
in I960.
A huge market could deapproximately 60
made largely by fermentation, of
today where an entree has not Petroleum
billion pounds. For 1961
Industry Participation
petro-< been made into the
velop for many basic intermedipetrochemical
grain. Today the bulk of the alco- chemical
ates of vvhich only a few
production is expected to
The petroleum industry is now
examples; hoi used by
industry. Although the start was
industry is of petro- be close to 65 billion
are: 1, 4
pounds.
trans-polybutadiene fiber, leum
through petroleum refiners and playing a significant part in the
origin. The growth of eth- Petrochemicals -will
cis-polybutadiene rubber, copolyprobably chemical
development of the petrochemical
manufacturers,
almost
yiene as a chemical raw material
comprise 33% of U. S. chemical
mers of ethylene and
industry. The oil and gas industry !
propylene, jn the last 10
the entire range
of industry is
years
has been production in 1961. Last
and isocyanate foams. Huge seghas been looking at petrochemi- ;
year do¬
now represented. Gas
pipeline op¬
spectacular.
Its
present • annual - mestic production of all chemicals
mentis, of the synthetic fiber incals for several years as an attrac¬
erators, rubber processors, ship¬
production capacity is at a rate was"
approximately
190 - billion
tive
area
forinvestment. They
ii T apP?ar t° be an ^e thresh- in excess of six billion pounds per pounds.
ping companies, metals refiners,
old of continual
have
also
believed
that
their 1
rapid growth over •
steel companies, farm equipment
year and is growing rapidly. Its
'''i'r
TABLE -1
the years ahead. One
'•
large potenof derivatives is
manufacturers, dairy products knowledge in manufacturing and :
steadly intial outlet for future
Past and Future Petrochemical:
petrochemicompanies^ and drug manufactur¬ marketing could be used advan¬
creasing until it now contributes
cals is in the
And Chemical Production
missile, rocket, and to
V ers are
just a few who have taken tageously. Here are a few interestnearly twice as many chemical
jet fue.s field. A great deal is said
,ing observations concerning /
'f-,•'Petro; ah
and
strong positions in the field.
chemical
intermediates
as
abdut-boron fuels and
;
.' chemicals, Chemicals,* Petrosuccessful petroleum 5companyhydrogen, both propylene and
W
butylene.
;
output 4 Output^
chemicals
^.'Examinations ofsome of the participation in the
but,hydrocarbons (petrochemical
petrochemical
(Billion -(Billion
.^(Percent
histoidcal growth figures and
building blocks) are expected to
field:
Year
Pounds)
of Total)
Tl
Pi? rapidly growing maiPounds)
serve at least as a
profit margins and the anticipated
significant part
•135
24
V>olyeihyleiM-. 1955___ 32
•
growth patterns make it easy to Shell Oil
;v
'!
1956
^re
; ur,doubtedly
a
combination of sev-
industry
made partly or wholly from
Pev.f-:erai factors; It is customary to
troleum, natural gas, or refinery
ca^ attention to two facts in the
gas.
Although today approxiintroduction of any discussion of
mately one-third of all chemicals
rapidly expanding fertilizer
synthesized in, ,this country
industry; one that there is a great
petrochemicals, only 2 to ,3% ofv
annual increase in population andour
petroleum and matural gas a
h
that ^ £ ig relatively
production is required to produce
^ additional land to be brought
the basic
intermediates for the
.
.
.
rapid
a
-
•'
-
.,
.
—
-
,
—
___
,
—
0
*
.
t
■
.
.
_
-
-
.
.
.
.
.
u.
kft ffor et^ylen/Jf-m
opmenV °f the fU6lS Und6r d6Vel"
established
tion,
..
a
This section will be
devoted to
few of the
petrochemical build-
ing
blocks
and
iw
?.n.Jsuc
applications
chemical
and
itv
♦
a!3
terials
in
some
are
1957___
packaging; pipes,
it is finding new *
wax
5^'dSoeiTiploye,A
refinerv
letinery technology.
good reason to
expect
a
and
development
excess
The
are
-rate
*Basic
and
mJnr
J
rnntH^fuf^
which
the
svnthe^ic
nf
known^ a*'^arafffJ?c
nanhthenes "and /rrfmo?are
-
>
28
■
-
the
38
■
i 'y '
TABLE
by both the
Petrochemical
and
-
or
Chemical {
Petro¬
Year
Pc.curs
*
3.7
—
1956-.
1957—
1958—
y +?Caf" *ts use as- an industrial solvent, ;
vfC ^ i° Wiohexane, is used as an inter- *
?¥
mediary in the synthesis of nylon.
Dollars)
I960—
—
5.7
V'
7.8
'
five
clusive. The earlier
•
17.2
**;:'
'
the
X
61
24.0
;
maior
major
factm*
factor
in
in
the
^ Was ? of benzene are, legion. Two large
synthesis of
outlet^ are in certain plastics and
years
-
dollar
will be
v.of
In
all
is
expected
sales
years
or
64
or
,
chemicals,
Table
are
•
<\
vaitte
II
'v
the
shown.
-
.
sales
In
of
r-
.
'
value
all
1960
"--f
of
in¬
-
were
in
v
>•
synthetic
organic chemicals. The 1956 chem¬
ical ' production < of
this; whollyowned
Co.
subsidiary of the Shell Oil
-amounted,
.
to.
two
.
billion
sales value of $213
In 1959 sales of chemicals
$230 million.
Among the
derived
which
Shell
\
a
many
from
;■
organic chemi¬
petroleum on
Chemical
work
:
;;
has
are
done
synthetic
glycerin, epoxy resins, butyl alco¬
methylethyl ketone. They
have pioneered in the agricultural
hol and
chemical field.
period includes
years
dor
continued to forge ahead
Shell Chemical, in collaboration
with United States Rubber Co. is
commercializing
ber
made from
a synthetic rub¬
isoprene, that has
substantially the
as
the4 natural
-
properties
product. Polyisosame
per year versus
rubber is understood to be ;
satisfactory for use in standard-
11.2% per year for petrochemi¬
cals. The petrochemical
that Shell Chemical sells polyiso- ;
with
a
rate of 9%
industry's
ehemi-A growth
petro-
1981
tq
the
seen
* gas has
■
1957
years
and
a decline in the
growth
petroleum refining and
petrochemicals. However, natural
rates
of
pctrothemlcal3;
approximately two-thirds that -
petrochemicals and
cals
after 1})^0
predicted,
25
II,
rapid growth. The last five
61;;:''
that by.1970-thc /
from
the
1956
great depression, World War
and "a "subsequent decade of
have
figures showkfor
have been estimated
^
both.
and
came
resins,
rubber, - and
plastics,
pounds with
selected:
1931
59 ^
--
;
been
58
10.4
15.3
chemicals,
petrochemicals,
" •';/ '"f'.'• million.
or
9.8 '
•
increases
agricultural
outstanding
have
-
.
largest, sales
cals
between
51
an
dinarTiv Snv 2 }
r^h}ch ?T~ were obtained primarily from'-coal*
methane ?t Is95%4 prior
WorW War ILbut wWch
Semfcala
make many today .are synthesized to a great;,
methanol
Mnt lT01113 atld extent frotn Petroleum.. The uses;
both.
strong position
a
chemical
—
outstanding have either been
8.4
6.4
un¬
petroleum,'natural gas, and petro¬
industries/Two periods
Total)
;■ 54 Xc
,•1.8.7
.■
1965— —10.5 ^
1970__
of
4
5.0
—
—
would
in Table IV to permit a eompariof the growth rates for the
51
4.2
during the last
one
son.
(Percent
*
4.4,;
—
1559-
>
An alternate route to cyclohexane
ane 1CH ) is
Pvoiut fS'
includes hydrogenation of benzene.
ITa Daraffin Tt ^e"®nt e*am?le , Benzene. (C0H0) is the first of.
gredient in natural I**'
u*°u ,ln" a whole series of aromatics-which
(Billion;
Dollars)
-
1955—
Petro-'
Chemicals chemicals
1
(Billion
States
years,
Information has been assembled
AU
chemicals
15
Corp.
being in 1929. From 1950 to1956 the gross income from chemi- ;
cals increased three times. The
were
Production
'
.
United
or
rec¬
major oil companies in
in, foreign' oil
•
•
wfere to examine the
one
in;'or developed
Dollar Value of Past and Future
high-pressure
a
10
are
■
The Shell Chemical
into
doubtedly 'discover quite a dif¬
ference-' in ; the
profit;', picture.
Those
companies whose records
chemicals
;
If
ord of the
41;;
of
naturally in
Crud£
andA .recovered by a
;c®m^tion^of r-highly developed
Physical processes. In, addition to
probably in
190
intermediate
manufacture.
v
t Estimated.':'''
understand the great and continu-"
ing activity in this field.
*
a
.
of $600 million
per year
bon
and
-
'
32
;•
330
n
2
180
265"
ma-
clohexane (CnHi?) is an ex0i £ naPhthene mr: cyclo-
-4
25
-
1985t- -100
tion of polyethylene
continu-
25
1970f-^ .135
superior
technique!
ally expanding picture when
one
realizes that, in the
chemical industry, expenditures for research
26
'
far
developed,
^mod~ low-pressure
There is
;
165
-
+
have
148
1958__ V 42
1959_:_
50 ^
1360___ .60
I!1 ^
n?/P°
^ close to that figure.This figure
L nmppccW Te5' Many of is intended to cover, the producern
'
38
_
143
its low polymer
supplement.
f"ture from its4 present
Z
■
35 7
.
txvd billion
pound per year production rate
could, be. reached in the near
fuel
^
a
Unless
,
*1°
nrn^icfn«
as
.
for" w?re insula!
for
bottles,
forms
a
bridge the
they-truly
film
and
intermediates
V? ^r0dVCe?
use
rate
of
11.2%
during the past five
per
years
year
far
ex¬
prene
size
truck
prene
tires.
It
is
interesting
for only 30 cents p§r pound,
The contribution of Shell Chemi-
c
.
Volume
195
Number
cal's operations to Shell
6124
is not publicly available,
However, Shell's outstanding record of net return to gross
sales,
oacofc
total assets, nlnnf 4trocfvmnnf
plant investment, or
w
.
ny»
other
companies
oiX
with
indicates
contribute ;a sig-
petrochemicals
nificant
want to
you
performance
its
share
—
towards
With
:
one
of the largest reserves
0f natural gas in the United States,
Shell's
(187)"
Qulf Oil
from
.
evaluate
The Commercial and Financial Chronicle
.
synthetic "natural" rubber, made
cis-poly butadiene, that is
being produced on a semiwork
scale. Such a material may comnofo
wlfVl
fitJhPT*
QVlltllAtlO^
pete with other synthetic "natural" rubbers when the scale of
operation is increased.
Oil's net
income
net worth—however
,
.
interest
.
Corp. has been careful
to be assured of a huge domestic
and foreign supply of oil and gds
4V*'A />V*vsw^i!
before moving far into the chemi-
„
-
....
field. For many years their
principal activity was in the field
of ethylene production and distributiori. Subsequently they commenced the manufacture of isooctyl.alcohol via the Oxo process,
Gulf s initial entry involved building a-plant to manufacture 150,Cal
Phillips has a solid raw material
earnings.
•
,v
position in the petrochemical in:
Assuming their growth in this idustry. Sales of - petrochemicals ^
field to be the same as for the were estimated at $130 million for
petrochemicals
industry
as
a
1955.
Petrochemical
sales
may 000,000-,1b. .of ethylene
thaf^th'^
,now double, their 1955 total. It is
conceivable, that earnings from
approximate $300 million.
may
?V;V..
Humble
(SONJ)
•
petrochemicals
■
•
of
.big
entry
field.
the
in
Their
12th
;now
first
the
to
.
make
of
Gulf-
Socal
■
JUllTlhPr
A'f
Chemicals,
They have
completed
lb.
an
second unit to
a
additional
per year.
manu-
220,000,000
large interest in the
plarit at Port Neches,
They have
now
an-
a
operations.
gas
11_
lb.;per years.
:
There is
a
growing
hv
nnh,
the
to
tetra
which is then alkvlated with
to
is
the
nrerursor
of the major detergents
one
For nearly 15 years they have
been producing oxylene from pe-
troleum and
oxidizing
syntheticphthalic anhydride via
similar
very
the
to
k
benezene to form dodecvlbenzene
company is marketing Ameripol rubbers and latex. The
is
ml
i*
Dodecvlbenzene
sively by Goodrich-Gulf. The lat-,.
rubber
material
mer
Texas. The synthetic rubber
plant
at this location is owned exclu-
so-called Ameripol S-N
i
manufacture*ofG dodecvlbenyene6
This
Approximately • si* years ,ago they.ler.
facture
»
-merizSg DroUlene
Inc.
a
butadiene
**
u
c"eriaicai subX1HS
PlOIlC6r6Cl
1H
Cll€5
naf P10n^recl ln tne
°, ^01?a}ic^; r*?y f£e
•
Jv
Another' interest of Gulf's in
the. petrochemical field is
through
Goodrich
Gulf
~
p
a£
r*K
cjj«05 SlUloXlvS
number of other attractive ^features including antistalling.
-
•
,Cf
#«««{
tinn
CTheyS
are
developed
large
a
market.
now
a
a
it
to
process
M^ve^to
phenol
chemical
r*™*
Continued
1
process
company
on
page
24
petrochemical
chemical
in
ex-
year,
number
a
at l6ast as great aS' if n0t ^reater nounced a third ethylene unit to natural product and may compete have
than> Present profits from oil and produce an addtional 400,000,000 for a share of this huge potential with
[Standard Oil Co.*(New Jersey)]
one
easily
pand to the point where they are
ni^^Humble6Oil^nd^Refining1 CkT
riwas
could
per
in
developed additive agents; an examPle of which is a superior
rust-inhibitor which also has a
Gulf Oil
23
size
business
is
the
among
chemical companies of the world.
Back in 1918, Humble manufac¬
tured
synthetic isopropyl alcohol
petroleum via the indirect
from
hydration
route
using
sulfuric
intermediary. Syn¬
thetic ethyl alcohol soon followed.
Later butyl alcohol and methylethyl ketone were added to their
acid
as
list.
,
an
Humble
also
the
it
ri
Research
new
Technical
and
Center of Anaconda American Brass Com¬
manufactures
"Oxo" products which are believed
to have an especially bright future.
Initially, their
If
pany
equipment shown here is providing
:n
business
-
For
knowledge about
needed
several oil
and
the
/
in
of
synthetic
World
War
...
effective
II,
rubber companies
■
This
( fH>
der^yed^ completely
tires from
the
butyl
vantages
also
developed
Co.
is
|
one
of
ri
all
whichT,> is
.
t
■
■
•
broadening
Anaconda
Aluminum
-■
year
-
thev>
operations.
Ana¬
Company people have
created
V
••
for
•
concept in
a new
/
•
It
exarhple.
wound foil-to-fiber
ter
;
is
can
spiral-
a
which does
bet¬
a
job and reduces the cost of packaging
such
things
as
frozen
orange
juice, coffee,
now-,
oil, paint. And Anaconda Wire and Cable-
-
Company research and development
Humble'st subsidi-
v
began production of a; new
synthetic rubber made from eth-
plSe" have made significant
peo-
in the
progress
-
development of extra-high-voltage cable
ylene and propylene. '4V
lit
needed
In 1955 petrochemical sales were
above
previous
any
amounted to
total
Magnifications of up to 250,000X are possible with this electron
approximately 6% of
In 1959 they
microscope, enabling scientists to probe more-deeply into the
domestic sales.
basic
nature
of copper and
its alloys.
bring''electric
;to
growing metropolitan
i
;
"
our
62215c
.
•
THE ANACONDA
to
power
areas.
4
-
COMPANY,25 BROADWAY, NEW YORK 4, N. Y.
$256 million. In 1961, assum¬
in this area to
were
ing
,
and
year
their growth
be
only average since the last
published
figures,
their
petro-
chemical sales should exceed $300-
million.
!-
:.
BRIGHT NEW HORIZONS
•.
Phillips Petroleum
FOR
COPPER
■
Phillips Petroleum has been
an
aggressive and successful, operator.i<;
in
the /petrochemical field
prir*v
marily since World War II. About
this time itr set as a
company ob¬
jective the upgrading of-many of
its
petroleum
and natural
gas
hydrocarbons to more valuable
end
products. The company's
tivities
include
now
become
one
of
•
ac¬
fertilizer,
synthetic rubber, and plastics. In;
the past
10 to 15 years,! it has
-
the
largest pro^
ducers of ammonia fertilizers and
■'
carbon black. In
addition, Phillips;
is producing pxylene and
methylvinylpyridine for synthetic fibers/'
and
for
the
past
two
or
three
years has been in commercial pro¬
duction with a linear polyethylene
by its
{
new
Phillips
finers
owned
plants.
factor
to
low-pressure
was
one
purchase
of several
in the
now
re¬
government-
butadiene
It is
process.
and
an
GR-S
X-ray fluorescence spectrography,
for
thb
analysis of the
positions
quick
As
advanced technique
an
com¬
to
In
metals
metal
help speed
gas
content,
being conducted
laboratory projects.
have
r
butylerie, butadiene,
fields, thus add¬
■<
■
v
t,
*
-, i
r.
important
and
<>;
vs
shown
above,
results.
i
and GR-S rubber
ing substantially to their petro¬
chemical, activities. Phillips has a
affect
working qualities, studies of
of alloys, provides
answers
gases
their physical propertie?
important
r-
/-J
;
;-r
•
•
aries
.»
*
•
of
f r\
a
polypropylene.
This up-and-coming plastic is en¬
joying huge. growth.: In recent
months
if.
during the
manufacturing
•
-
stepped-up research arid"'
greatly
containers,
for recovery of butaaiene and also of isobutylene.
r\
Oil
the
conda
processes
Humble
.
base
';, for
making
butadiene
butylenes
and, extraction
The
more
...
process
from
and
products—bright
laboratory is yet another sign
new
development
1.\
butyl and declared that
tires have several ad¬
over
those in, present
They have
use.
v.
.
(V i)
isobutylene arid
isoprene.
Five years ago Humble research
and engineering announced suecessful production of automobile
from
I
development
new
.-I
of
ri.'Jt
Humble,; is
new
met¬
copper
U»s >
'
.
of present
uses
laboratory
horizons for copper.
new
programs which led
to
development and < commercial
production of synthetic, rrju^be%o/
Butyl rubber,' discovered ft by
the
'
and
copper
products and for
new
initiated
.
Conn.,
als. This is the basis for the
of chemical production.
supplying
rubber
g.
Waterbury,
special streams for the sole
pare
; purpose
m
chemical
was an offshoot of
upgrading re¬
finery gas streams. Today they are
making a deliberate effort to pre¬
in
AnacondA
can
l'i C
24
The
(188)
example of this change in re¬
one
Refining
another
wherein
aromatic
the
petrochemical
toluene
—
Neches,
23
is used
—
as
starting material.
The
petrochemical sales of Socal
approximately $70 million in
and
were
$120 million in
were
1954
1956.
Assuming average continued
penetration in this area, their sales
this year could approximate $200
million.
Cities Service and Continental
Co., with
their natural gas oxidation proc¬
ess, manufactured formaldyhyde,
/
i
•methanol,
recents
j1
_
Oil
Co.
processing.
Actually
it
had started in the late 1930s, but
rfm'-Pino
4-l"i
its effect
It
was
still
was
of
nf
r»i
O n
not significant then.
going
into
went
a
of
group
new
from
refiner
the automo¬
bile manufacturer. What followed
■
a gasoline
octane race at an
unprecedented rate. If the demand
on
throughout
finer is in
are
v
In
petroleum
re¬
The United
scale.
processes to accomplish this
alkylation* and isomerization.
<i
wr
i
Table VI the
tion capacity
has
j
-i
.
is shown.
predicted
the
n
i_
many
the conventional internal-combus-
though
the
present
and
future fuels do not come under the
accepted definition of petrochemi¬
cals, no
paper
on
petrochemicals
would be complete
nition
of
which
has
oil
the years. Petro¬
refining is becoming more
refining
leum
and
without recog¬
the
gradual
change
been taking place in
more
chemical
Today's
over
a
series
of
distinct
processing - operations.
premium gasoline is but
tion
gas
automobiles. It is
our opinion that we can abandon
any
consideration of significant
inroads of either the gas turbine
or
the free-piston engine in the
automotive field
by 1970. This
engine in
conclusion results from
examina¬
tion of developments in
the petro¬
leum
during
and
the
automobile
last
two
States is now con¬
••
-
TABLE VI
Capacity
(January First)
S.
Alkylate
Capacity
;
.
</
Year
replaced by more up-to-date units,
Even
-
''-V,
domestic alkyla-
been
that
•
•:
U.
,
i
m
1956780
103.
turbine and
the free-piston engine will replace
have
and
Research
approximately 4,250,000
automotive gasoline per
day. Premium gasoline averages
99.2 octane
(ASTM D'908) and
regular gasoline averages 92.7 oc¬
tane.
Where
a
refiner markets
both a "premium" and a "superpremium" fuel, all of the latter
are better than 100 octane. In one
instance
super-premium fuel is
understood to rate approximately
on an enormous
been
usefulness
their
■
suming
bbl of
position to synthesize
a
isoparaffins
The
the
arise,
shoqid
times
recently gave pub¬
whole
gradual change occurred in
refining during the 1940s. There
was
a
shifting from thermal to
A
i.ron
was
the
was
Refining
l+rt
on
lytic units have already outlived
six years ago
P.C.I. purchased the Lake Charles
butadiene plant from the govern¬
ment. This plant has a capacity
of approximately 65,000 tons per
year. The capacity has now been
increased to 80,000 tons per year.
a
steady growth in the
'
'
vi:..?
sure
were
processes
-
and tremendous pres¬
being brought to bear
available,
9*?e]™cals> ^c* Both of these
J°intly owned ventures give
promise of
future* '
the
established,
It
Approximately
to
and the other copolymer plant
are owned by Goodrich - Gulf
the 1950s. Many of the early cata¬
petrochemical venture by
forming a petrochemical subsidi¬
ary called Petroleum Chemicals,
Inc. (P.C.I.).
Cities Service
plant
In
joint
licity
growth took place because the
catalytic
chemistry \ was
well
Service and
Cities
years
1. •
_
acetaldehyde.
and
Continental
:
_
15 years has been the
synthesis of aromatics on an enor¬
mous
scale
for
gasoline.
This
past 10 to
half
other
interest in the butadiene
catalytic
1927 Cities Service
In
The
Texas.
or
Thursday, January 11, 1962
908)
"(ASTM D
Which Division Will Win?
Continued from page
octanes
357)
D.
. . .
octanes, or both,
fining practice. *;
•: : *
"
the
petroleum industry will be
The most outstanding develop¬
ready to meet the challenge.
ment in petroleum refining in the
Petrochemicals:
or
Financial Chronicle
Commercial and
-273,000
308,000
350,000
398,000
Research
is
If
changes in automotive engine de¬
sign require higher Motor (ASTM
and
year Esso
Research and Engineer¬
ing Co. spent 20 to 25%
total
research
and
of their
development
S€
cr
of Shell was directed
towards petrochemicals. Their
o^
fa
mapped out many £
before their effect will be [
plans must be
years
felt.
cl
a
roughly five to 10
takes
It
Cc
years'from the start of commer- t
:cialization
of a
new
chemical i
product, followed by. subsequent f
before
growth,
repeated
chemical venture
products while the latter has made
a tremendous number of products.
The regions which have become
common to both in
recent years
are the single high-purity chemicals derived from petroleum or
produced
on
evolving
C
a1
c<
I.
r<
1:
i
I
a
'p
T
?'
"<
f.
sc
i:
ei
!
P
rr
i
S
h
such
c<
tech¬
st
refining
cl
take ^ over
their
manufacture. The petroleum and
tl
that
petroleum
of
niques
could
the
tc
j:
-
the
and
refiner
cl
•al
to be j
chemical
manufacturer have never thought
alike.
Their
philosophies have
been as different as their modes
of operation. The former has traditionally made a relatively few
•The
qi
this
is self-support-
and of. sufficient size
economically feasible.
ing
scale
at
•y<
ment work
natural gas and
patents which are issuing to
the major integrated refiners. This
gives a clue regarding what they
have been spending their research
and development money on. Last
the
budget in the petrochemical field.
back as 194a approximately
•half of the research and develop¬
As far
Development
only necessary to look
industries
decades.
425,000
*T961_
It
(Barrels per >
Calendar Day)
- -
'
V'
easily
rr
industry's potential of pro¬
ducing more of the primary petro-^K
gas
P
e:
chemical building blocks is enor¬
mous.
They
continue
an
is
to
be
will,
therefore,
in the picture' to
ever-increasing
really no battle
tl
t-
extent. There :'
or
even
what
chemicals derived from butadiene.
Cities
also
Service
purchased
and
Continental
controlling
a
in¬
terest in Mid-South Chemical Co.,
anhydrous ammonia marketing
P.C.I, has built a huge
plant at Lake Charles
an
company.
ammonia
to
supply
the
Mid-South.
The
<N
O
o
requirements of
petrochemicals
complex at Lake Charles now in¬
cludes a huge ethylene plant, an
ethylene glycol plant, and a butyl
rubber plant. It is believed >rthat
P.C.I.
over $80
million
petrochemical plants.
petrochemical sales may
Their
o
in
in
be
now
£
has
now
invested
of $100
excess
3
c
million
o
per year.
Texaco
Texaco Inc.
is
good example
in the
a
of diversified participation
petrochemical field. Texaco is
en¬
gaged in increasing its direct par¬
ticipation and is simultaneously
involved in the field through two
jointly owned companies.
Texaco
has
been
producing
petrochemicals,
as
part
of
its
regular
operations,
for
many
years.
Only small
amounts
of
these products have been mar¬
keted
such.
as
They
have
been
fuels,
lubricants, and specialty products
of the company. Examples are the
manufacture of naphthenic acids,
in the manufacture
used
sodium
of
sulfonates, antifreeze ad¬
gasoline
additives,
and
ditives,
rust-inhibitors.
Recent
announce¬
ments have indicated that they are
considerably expanding their pet¬
program
to
include
large naphthalene and cyclohexane
rochemical
plants.
Texaco
its
and
subsidiary,
wholly
owned
Texaco
Development
Corp., have been major factors
in the development and commer¬
cial application of the partial oxi¬
dation
of natural gas and
fuel for the production of
heavy
hydro¬
for ammonia synthesis. Suc¬
gen
cessful
commercial
natural gas is well
its
In
operation
Texaco is
on
established.XL*.
joint-interest
associated
ventures,
with
Ameri¬
can
Cyanamid Co. in the Jeffer¬
son
Chemical
United
Co.
States
with
and
Ruober
Co.
the
in
the
Texas-U. S. Chemical Co. Jeffer¬
is
son
a
major producer of eth¬
oxide and ethylene glycol.
ylene
It
also
produces and sells
siderable
ucts,
number
some
of
ethanolamines
of
which,
apd
are
derived from
In
the
S.
prod¬
such
as
morpholine,
rubber
Chemical
Texas.
two
It
plant
also
copolymer
*.
field,
owns
an
undivided one-half interest in the
butadiene
.}
ethylene oxide.
synthetic
Texas-U.
-
con¬
a
other
at
Port
owns
Neches,
one
plants
of
at
the
Port
->
Volume 195
Number 6124
his
.
refiner
cheap
raw
gas
trol
production
;
cal
costs
source
|
hydrogen
•
roles
intermediates.
this has been
•
for
markets
a
.v/A
y.
chemistry
of
and catalysis
both
areas.
in
amount
now
total
our.
The
M.
H.
rives
Chim.
aqnual. investment
in
new
That
(1961).
chemical
chemicals
industry
has
5.
been
Standard
"Jersey
with
A.
D.
is
expected
to
continue.
assets of the
try
primarily to get control
are
The
total
The
the
to
|V
:
•
chased
,
a
Other
American
ment
77-81, July
net
Blyth
Boston
Co.,
&
Corp.;
Bank
of
Inc.; The
Harriman
project
bonds.
will
al Bank;
United
Bay
East
for
Proceeds
be
area
used for
supply, storage and distri¬
improvement
purposes.
Bay Municipal Utility Dis¬
trict
is located
on
the eastern
shore of the San Francisco bay,
covering
square
14
Chicago, 111.
an
area
of
about
cago;
The Northern Trust Co.;
Crocker-Anglo National Bank; R.
Moulton & Co.; Kidder; Pea-
H.
244
cities,
U
body & Co.;
Eastman Dillon,
miles. The district contains
incorporated
California Bank; Drexel
Co.; Chemical Bank New York
Trust Co.; Continental Illinois Na¬
tional Bank and Trust Co. of Chi¬
&
bution
Institute,
Co.; Security First Nation¬
Trust
Union Securi¬
Co.; Merrill Lynch, Pierce,
Fenner & Smith Inc.; Dean Witter
ties &
including
<
•
National.
First
The
Chicago;
First
East
Petroleum
members of the
syndicate were:
major
Bank of America
Savings Bank; Kuhn, Loeb & Co.;
Wells
Fargo
Bank
American
presented
by
Mr.
of Refining ses¬
Annual Meeting of
was
pur¬
Ripley & Co. Inc.; Harris Trust &
(1980).;
the 41st
1961
$703 million of
Municipal
and
State
Bonds.
prices to yield
at
than
more
California
group
in
associates
its
and
l
1.70% to 3.90%, according to
Division
during
the
valued at $6 billion.
/•
water
sion
petrochemical indus¬
•
';1,
maturity, Feb. 1, 1963-1997. :
The
bonds
just sold are the
third series from the most recent
authorization of water
develop¬
U.S.,"
the
paper
McGrath
.*•;
setting
100.0001,
from
fining industry. This condition is
manufacturer
A
America
of
reoffered
were
Miscellaneous Annual Reports.
6.
Bank
W
underwriting
through a policy of bid¬
ding on virtually all California
municipal bond issues, finance a
major share of the new water
systems,
schools,
hospitals and
other public projects undertaken
each year in the state. The bank
interest cost of 3.306%. The bonds
"Growth
of Petro¬
Petrochemical In¬
Shepard,
in
'.
•
\
America
of
groups,
a
was
Couldn't Work,'"
'Simply
.....
Bank
premium of $31 for a com¬
bination of 4%, 3%, 3V4%, 3V2%
and 2% bonds.
The dollar price
; -.
-
.
Bank
. it.
•
The
Management
a
City
The Chase
and ; Bankers
Costa Coun¬
■
■ :■
dustry i [7J 4-8, Sept.
greater thaii for the petroleum re¬
expected to continue to integrate
backward
81)
Success
National
York,
ties, Calif.,
L,
de¬
de
First
New
Alameda and Contra
partir du
petrole,"
[5] 561-7, Nov. (1958).
Mellecker,
plants apid facilities for the petro¬
these materials. The
synthase
A
S
Co., on Jan. 9 purchased the
$30,000,000 bond" issue of the East
Bay
Municipal
Utility District,
a
Profile of Progress 24 [7] 23-5,
*
m.
lnd.
J.
4.
Chemical
years
"la
McGrath,
G.
benez^niques
&
T
Trust
Crass,
F.
of
Manhattan
(1957).
3.
to
M.
Campbell,
V.
Structure
Behind •the
desire to establish
chemical
The
Bank
D. M.
Kiefer, et al., "Industry Executives Show
Cautious Optimism," Chem. Eng. News 3!)
[3<>] 52-8, Sept. 4 (1961).
.
;
,v.
2. H. G. McGrath, "Petrochemicals Race
Ahead," Petrol. Processing 12
[!)] 101-5,
1.
Sept.
chemical
production. For the past few
refining.
from
than
of
one-third
profit margins have been consist¬
ently higher from such Operations
'M:
Jerry
N
America
The
cluded
Petroleum Co.,
McAfee of Gulf Oil
paid
operations.
Petrochemicals
J stake in the manufacture of petro¬
chemical
Conclusion
prominent
are
increasing 1 their
are
Dr.
of
Bank
the
of
.
underwriting syndicate, which in¬
Adams of Phillips
can before the
their hands., All
petrochemical
there has also
joint-venture craze.1 Oil
companies
A
petroleum and petrochemical in¬
dustries
including
Mr.
K.
S.
more
Since World War II,
a
onto
79%
about
and
valuation
district's
of. assessed
about. 83%
Sale
on
population.
and
assistance
th§
counsel of certain members of the
Petroleum refining is becoming
like
a
series
of (gigantic
and
Today, oil serves the same
purpose better. There has been a
been
District
They are also
paper.
for
grateful
much
as
of this
tion
they
as
;
mad scramble back to oil and gas.
•
do
Of Calif. Utility
BIBLIOGRAPHY
energy.
■;*7i
will
leaves
story
of' carbon
•
tv.:
integrate
to hold
for the help
by
the companies involved.
air, and water."
has changed to
'"oil, air, and water."
Coal is a
the
raw
them
Oakland, Berkeley, Alameda, San
Leandro,
Piedmont, Albany, El
Cerrito, Walnut Creek and Rich¬
mond.
The
cities
account
for
$30 Million Bonds
Corp., Dr. M. E. Spaght of Shell
of the foregoing is based on longOil Co., Mr. L. C. Kemp, Jr. of
range planning which has been in
Texaco Inc., Dr. H. L. Malakoff
progress for many years. Primary' of
Cities
Service
Co., and Mr.
consideration in
every
instance W. C. Asbury of Esso Research
has been the future well-being of
and Engineering Co. -
producers were proud to have
Today
it. .They
material
time major chemi¬
"plentiful '"coal,
try
j
...
express
members of The
M. W. Kellogg Co. in the prepara-„
material and keep con¬
raw
of
processing
relative to the rest of the economy.
Once upon a
will
owners
their
(4) an excellent forecast of future
availability;
and
(5)
expected
low
will
to
thanks
sincere
given
to
try to; increase his
profit margins. The crude oil and
,
continued
too
their
wish
.authors
The
forward
material; (3) .raw ma¬
which is easy to handle;
terial
He
ACKNOWLEDGMENT
:
will
integrate forward. The
will also integrate back¬
material.
They include: (1)
material;. (2) depend-
raw
production."He
to get control over his
ward
quite obvious.
•able
material and to control
raw
costsf of
likewise
25
(189)
The Commercial and Financial Chronicle
;
of his
might .call., a "going of,'their
.separate (ways," -but , rather , an
overlapping of refining to .take
over part of petrochemicals manu¬
facturing and. the continuation of
chemical manufacturers to achieve
a larger stake in the petrochemi¬
cal field. The reasons for this are
•you
,
,
.
Co.; The First National Bank
Oregon; The Philadelphia Na¬
tional Bank; Seattle-First Nation¬
&
of
al
2*^
tx
.si
§
CO to CO
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County).
ended Septem¬
1961, the company had
operating revenues of $838,793,000 and net income of $106,374,000. In 1960, the company's
operating revenues were $1,061,647,000 and net income was $131,975,000.
p
*43
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30,
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oi
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cx
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©
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had 8,427,077 telephones
of which about 68%
City, south¬
Westchester County and most
area
o
wn
5S
telephone
toll
in the New York
were
k.
©
and
service,
©
V©
*43
*43
©
local
service, in the State of New York
and in a small portion of Connec¬
ticut On September 30, 1961, the
CO
m
k-i
m3
o
mainly
©
©
©
oo
Telephone, a whollyof
American
subsidiary
Telephone & Telegraph Co., fur¬
nishes
communication
services,
*43
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t
owned
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to 100%, plus
accrued, interest.
JE -5
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ing from 107.309%
"e
©
WO
kl
£X
company
a
The
w»
o
extension and improvement
plant.
bonds are redeemable at
tion,
CO
to
E
proceeds from the sale will
bank borrowings
approximately $45,000,000. The
construc¬
of
©
©
^
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s.
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Co
©
101.49%.
Net
ja,
5
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award of the bonds at
9 on a bid
competitive sale Jan.
of
E
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be used to repay
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$60,000,000
New
York
Co. refunding mortgage 4%%
bonds, series M, due
Jan. 1, 2002 at 102.309% and ac¬
crued interest to yield 4.50%. The
of
sue
u
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Halsey, Stuart & Co. Inc. is man¬
ager
of an underwriting group
is offering publicly an is¬
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■
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to
Mellon National Bank
Salomon Brothers
Bank;
and
©
©
a_
Purcell & Co.
©
wn
To Admit Hunter
•4. N
50 Broadway, New
City, members of the New
York Stock Exchange, on Feb. 1,
will admit William A. Hunter to
Purcell & Co.,
York
,
'
partnership.
Mr. Hunter is in
charge of the firm's institutional
department.
26
The Commercial and Financial Chronicle
(190)
AS WE SEE IT
The unthinking
almost inevitably con¬
with.
jure
must
clude
this
that
has
device
and
cost
with the
abreast
than keep
of technical
rapid
more
obsolescence of this
new
age
cial tax
treatment
Unless
and
advance, it hardly far
law
more
than
need
Surplus and Deficit
Labor Supply
costs
in
and reducing taxable
years
income, but leaving the avail¬
able
depreciation charges in
later years
that much lower
more
than
we
things
much
quite
arbitrarily
the often almost ruinous dis¬
crepancy
skilled
labor
could
for
ministration
tute
be
now
are
said to
struggling—-struggling
the
der
handicap
prospect
of
between original enterprises
that
interfere
jobs In
a
nomic
un¬
of serious
times
men
that consti¬
areas
problem for the eco¬
planners, and some¬
for the practical poli¬
misunderstanding o r under¬
standing—is the old, old one.
tician.
of wide variations in prosper¬
cumstances
with
the
war
going
to
new
there
is
expanded older
labor
while
of
success
or
portance
where done
areas
in
other
bidders
in
;
C;
are
times
and
•
doubtless
cir¬
when
work
the
practical
Awarding, too
contracts
to
areas
..
but
course,
have;-here
we
•
clear
example of what
is going on constantly in pri¬
vate
industry
with
enter¬
prises moving- their opera¬
tions or parts of them from
one
part of the country to an¬
other to take advantage of
a
differentials
cost
the like.
or
be Extreme instances of it have
that fhe
least
us.
Always Underway
Of
been
witnessed
the
in
once
scarcity of skilled time.
a
to
seems
-
,
There
materials and equipment
are
salvaging obsolescent plant
equipment, or making it
possible for wage earners to
hold on to jobs that no longer
have-any justification, eco¬
nomically "speaking, is very
doubtful procedure, or so it
and
bidder, but be placed
other criteria at least
part which would take into
consideration the need of
'
of
the
to
some
fluential members of the Ad¬
any
therefore be
contracts
awarded
ity and employment from sec¬ contracts should not be woodtion to section and region to
now
required to work. The
enly let to the lowest bidder
obvious remedy, then, for any region. Note is being taken of even though he is apparently
slothfulness
in
the
invest¬ the fact that some of the con¬ equipped to perform. There
ment in productive plant and tracts of the Federal govern¬ are sometimes questions d of
equipment is the removal of ment for the production of timing, when it is of vital im¬
those
upon
in
.
have
be
not
in the climate in which it is
and thus taxable income that
higher. Its effect
by
enterprise have declined
our
the earlier
of
short
lowest
current .problem
initiative -A Another
with which some of the in¬
American
amended ! that
so
should be
does, in theory, at least.
capital
it,
is not likely to promote en¬
during growth or benefit the
nation.
-A
!■'.'■••/
v
existing idea that they have there can
be no need for any such de¬
If it does more it merely en¬ vice as this. If there is hesi¬
ables an enterprise to recover tancy and lack of vigor in the
more quickly the cost of the
operation of American indus¬
equipment — fhus enlarging try, the cause is .to Be found
does
of surplus skilled labor
losing out.- The idea of
questionable prosome
of the advanced think¬ cedure. But, by and large, the
ers
in Administrative quar¬ shifting
of contract awards
ters is that the law should be about the country as a means
given investment in produc¬
tive
plant and equipment.
more
Thursday, January 11, 1962
areas
are
con¬
ditions that do not warrant
replacement cost is
all but indecipherable.
Another
of
these
typical
ture of the case. If such a sys¬
no
.
enterprises. Anything that in¬
New Deal notions is that spe¬
tem does
.
duces investment under
Continued from page 1
magic powers which it could
possess in the very na¬
never
.
many
for
already
than
more
textile
industry,
years
example, for many, many
past. There we find
what
called
sometimes
are
"ghost towns." Tfiey are a
real problem,
but they are
not solved merely by
ignoring
the
of their existence.
causes
Organized
labor
than
more
has
upon
occasion
one
—
though, of course, not always
—been, responsible
for the
rise of conditions which
to
concerns
'od?.
r
.
"■
♦•->/
hot.+vi*;''
country in this
I v.
•
•
"r
t
.
;
'//
cause
about the
In
way.
instances • it has
)i
7
move
in
a
few
limited*
a
-
■
of
sort
undertaken
way
to
remedy the situation by /:
which
its
metnbers
are
con¬
•V.;'
fronted.
New and
In
adjust--r
painful; to
those A left behind.
slow
is
of
many
the
event
any
ment
and
Some of them have been for¬
tunate
By popular referendum of December 10,; 1961, the debt
1
,
limit of the Commonwealth of Puerto Rico ceased
1
*■;
-;on
the assessed valuation of real
has beeii
recognized
as most
move
:-
and
to
be based
could work in the
property, Ina move which -;
constructive
thorough study has elected
ring capacity hereafter to its
;
prevailing, without union in¬
by leading-munid- ' -V-*/
the
Expressed in its simplest
result in
greater
A. the two
;V-:
v
principal and interest
payments
than 15 % of the average of
preceding fiscal
'•%,
monwealth
solutions
"
/' *{""
years
any year
- -
* '
exodus
received during
often
-"v.- '
-
'•
dXifr-y
'*•
■■'''■
greater
■
:d.-
i
■
protection for
i
■'
Special Report
the
upon request.
new
concept in detail. A copy will be mailed
T
GOVERNMENT DEVELOPMENT BANK
'
'
Fiscal
San Joan, Puerto Rico
;
'
■
FOR
initiative
however
and
,
of: /
the
finally dealt with,
A
/
•
..
e
an¬
deal of the
wV Frontier"
needs agonizing reappraisal.
V
PUERTO
"N
the
is not
good
-
without.
arose;
cause
President's
RICO
Van Alstyne,
Noel to Admit
•*
AT
45 Wall Street
New York 5, N.Y.
ANGELES,
Sellas
the
:
'
the
trouble
natural
LOS
Agent for The Commonwealth of Puerto Rico
1311 Ponce de Leon Avenue
—
positive
merely to pretend that "A
that
the Commonwealth of Puerto Rico
4
in before the
was
on
cure
swer.
explains this
re¬
much
to
the fact is clear and
taxpayer.
on
to
seem
employers. This is
possibly most
situation is
the
A
of
—
too
local interests. But whatever:
under the provisions of Com-
.v'.''"j
the state it
being
not
situation
sometimes
revenues
legislation. The result is
both bondholder and
in
handicap
which
the
store
together with all debt then outstanding, shall
a
of the
great,/
it
has
often
been
possible
over
the years to work out
debt shall be in¬
terms, no new
the
old location is
ability to pay annual principal and interest on the public debt.
curred which,
are-
e
of
moving enterprise at all.
Where
of
as a measure
terference.^ But \.t her
many others i affected, not
few of them not
employes
to relate its debt incur¬
tax revenues
loca-A;
new
tipn \ under conditions /there
pal bond authorities throughout the United States, Puerto
Rico after
enough to be able to
their industry—;
fortunate in that they with
will
New
Calif.—John
become
York
a
Stock
Exchange
firm of Van Alstyne, Noel &
as
of
ager
South
Feb.
of
1.
the
Mr.
Sellas
firm's
Spring Street.
office
.
P.
partner, in
is
Co,f
man¬
at
650
-
:v
•
Volume
Numbed 6124
195
.
.
The Commercial and Financial Chronicle
.
These findings are based on the
weekly survey of 34 metropolitan
areas conducted by the ATA Department of Research and Tranlport Economics. The report refleets tonnage handled at more
STATE OF TRADE AND INDUSTRY
^
:
.
,
.
.
.
-
Continued from page 11
of the 265 occurring in the similar
ber.
week of 1961 and the 242 in 1960.
Business mortality in the initial
a
Mill
buying is limited, but
first quarter spurt is expected.
this year was 26%
week
less setoll of 312
in the corresponding week of 1939.
vere
Steel Production Data for the
Week
Ended
Jan.
6, 1962
;
the
American
stitute,
Iron
Steel In-
and
production
the
for
of
carriers
mon
general
The company of 50 E. 42nd St.,
A
rOCGSSlilg ASSOC.
N.
Y., furnishes
ices
/Y-CiL*
V^OIXIIXIOXI LJI16I*GCL
in
the
consulting serv¬
of
commercial
field
data processing.
'fe
*■,.
com-
freight
Robert
wholesale Commodity Price Index
J*Highest Since SePtember
.
F.
Shaw, Locust Valley,
L. I., New York, is offering pub-
throughout the country.
with liabilities
27
CompUtCI* deb*' s^tes promotion and workX
licly
0°'°M
week
than 400 truck terminals of
than the pre-war
T*i?re wbb kttte
According to data compiled by-
(191)
160,000
Dataline
.
Ltd.,
Form Alger In v. Co.
„
.
^
f
Alvin Ude11
of
1S engaging in a se-
Processing
at
curities
$1.25
Computer
Associates,
shares
common
120 East 41st
tons^mss 17 V^rTI^above
week and 34 a year ago" Casualties
!n™^ing 1®c.sqEu|lrd® ITS
the general wholesale commodity
business
from
offices
Street,
at
New York
ta^rice^of wheafandlteel^crap" Share' Net pr0ceeds wiU be
2,'l06,000'.(H13.0%)
per
the
output of
^d,b"? tlmhred modfratelv'
in, the week ended Dec. 30,
USed City' Under the firm name °f
by the company for repayment of Alger Investors Company.
1961.
Prlce level'climbed to *275-40 on:
through
9?i nf this
Monday> Jan- 8> the highest peak
6, amounted to 2,294,000 tons
tne
oi inis size iasi sjnce las^ September, reports Dun
(•'::123.1%), or 68.6% above the 'ear4
-jr,.
& Bradstreet, Inc. As well, it reperiod through Jan. 7,. 1961v:
Electric Output 9.5% Higher"
mained considerably above the
V The year to. date production
Than in 1961 Week
level on the similar day-dast year.
1961
through -Jan. 7, 1962, was
Thpa mnnnt
nf piectrir enerev'\
°n Monday> Jan.. 8, the Daily
,1,361,000 tons, or (*73.1')^?
llJht Wholesale Commodity Price Index
distributed by twIilH-rto
the electric light rose^0
Ther Institute
concludes
with
Production
this
,
"
year
Jan.
$275.40
index
of
1962,
ProducUon^by
Ingot
for
Districts
week
ended
Jan.
"7
6,
follows:
as
*
Index of
1191
a
according
Ingot
Institute.
Production for
Ed'son
to the
Output
.
higher than the $272.68
wh
and ^
Electric
fele
283,000,000
was
$274.22
j-.-'v'
Service of Bonds of the External Debt
a
$267 66
^
d
month
a
the
on
The Caja Autonoma de Amort!zaci6n de la Deuda
Publica, 'in accordance with the readjustment plan for
com.
lg61
r.
Week Ended
Wholesale
Jan. G, 1063
week's total of 15,738,000,000 kwh
North East Coast__
Buffalo
•
117
125
above that of the
116
week.
-
Pittsburgh
Youngstown
Cleveland
and
Price
I
136
:
—
Detroit
149
Lumber
Chicago
>
Cincinnati
119
Southern
110
Western
*
T
117
Index
of
based
weekly production for 1.057
-
on
average
11)50.
Bright
post-steel strike January of 1960,
Ward's Automotive Reports said.
j.'
i
•
_
The statistical agency
nearly
cars
this month will lead off
670,000
of - the most ambitious
in
that
said
re-
cars
were
week
a
This
^
produced in the
work
of
of
1,857,635
4.5%
,
a
Christmas
There
above the corresponding
ago.
were
loaded with
,
10,924
one
cars
reported
or more" revenue
.
\
full session of the year. More than cars
or
of
the
industry's 47- car.- -week.
73.8%
above
the
1959
making facilities are expected to , Cumulative, piggy-back loadings
slate overtime,,'lifting production for the first 51 weeks of 1961 toto its pre-holiday level,
$:?■'; taled 582,247 for an increase of
Ward's latest tabulation of 1961
36,277 cars or 6.6% above the corproduction showed the industry responding period of 1960, and
produced 5,516,336 passenger cars, 172,400 cars or 42.1% above the
compared with 6,696,166 in 1960. corresponding
period
in
1959.
December
005,
output
climaxing
that
saw
Truck
was
set at 627,fourth-quarter
There
was
a
1,830,220
cars
production during the, year
1,129,693,
including , near-
pared
50
record December
Of
the
built
in
output of 111,278.
5,516,336 passenger cars
1961,
general
the whole¬
buying
the
.
class
I
U.
S.
rail-
General
Motors
Failures Up Slightly in First
.
-
the
one
year
ago
and
corresponding week in
-
.
,"AeLcit.y,Trfli, Tonnasre Was
49.4%; Ford Motor
30.6%; Chrysler Corp. 11.8%;
Week of New Year hut Below
in
with 54
6.3% Ahead of Same Week
of
Intercity
,
*
calculated
sold
briskly
truck
tonnage
England
—10
•
Comparable 1961-60 Levels
Commercial and industrial fail-
edged up slightly to 231 in
the holiday-shortened week ended
jures
Jan.
4
Share in tax
the
from 222
in
the
preceding
Bradstreet,
Inc. However, casualties fell short
week, reports Dun &
announces
+4; Middle Atlantic
-
that holders of bonds
-
'
*
<
*r.
•
;
1,785,283.34
i....................
.
None
"*:<
industries (Article 7th of
1938)
-
555-556.27
...
4
fUS$2,340,839.61
-
year
i
■'
-V-
••
j : I...
.-4
f
/
'
v .,"'' .'
'
to
the
extension
}'•
•
..>•
;•
|
V ,
^
.J
until December 31, 1965.
Holders of bonds assented to Law No.
entitled to receive the aforesaid payment
$1,000 bond
and after February
5580 will be
of $3.80
per
1962, against
*.
presentation and surrender for cancellation of the two
*
on
1,
of
the Mortgage Bank of Chile Guaranteed Sinking Fund
6^2 % Bonds dated June 30, 1925, Mortgage Bank of
Chile Guaranteed Five Year 6% Agricultural Notes of
1926, dated December 31,1926 and the City of Santiago,
coupons
reported a 8% rise for the
end Dec.
30, 1961, cornpared with the like period in 1960.
For the week ended Dec. 23, sales
Chile
year.
In the four-week period ended
Dec. 30, 1961, sales advanced 8%
;
corresponding to said payment, (in the
Twenty-One Year 7%
case
Ext. S.F., Bonds dated
January 2, 1928, the said payment will be made by
presentation of the bonds fo(r endorsement of the interest-
corresponding period in
payment) together with
mittal,
Re-
week
at
the
office
an
of
appropriate letter of trans¬
the correspondent of the
undersigned in New York City, Schroder Trust
Company, Trust Department, 61 Broadway,
New York 15, N. Y Letters of transmittal may be
»
^obtained at the office of said correspondent.
\
■
-r
CAJA AUTONOMA DE AMORTIZACION DE LA DEUDA PUBLICA
EDUARDO SOL MINIHAC K.
•v
J
.
k.
-
,
Santiago
General Manager;
•;•
Decembet 30. 1961.
.is,-
!
ALFONSO QUINTANA BURGOS
.
'
■■
i
K
8962.;'V:v;;'!','
granted by the
Supreme Government tinder the term? of Fi-nance Decree No. 17,298 of December 14, 1960,
the period for acceptance of the exchange
authorized by Law No. 8982 will remain open
dex
According to the Federal
copper
Pursuant
week
the
$1,000 bond
4
Department store sales on a
country-wide basis as taken from
the Federal Reserve Board's in-
over
per
importation of petroleum for the
assented to Law No.
+1 to
last
'
corresponding to this decla¬
ration 98.24% of the dollar bonds, 99.56% t sterling bonds and 97.08 % oi the Swiss franc bonds had beeniv
The 1960 Week
higher than
"" }
-'-j ' '
■■:X :r9.h}
plan of service
income of the 4th category
on
Up to the close of the
Sales Increased 8% Over
12%
4 4
provided in Law No. 5580 with
Law No. 6155 of January 6,
1
Nationwide Department Store
were
the basis
companies
on
nitrate and
~
.
4
of copper
to
—6; East South Central—-2 to -f 2j
AVest North Central and Mountain
—1 to +3; West South Central
0 to
on
Share in the taxes
and
saies
in
8962 also
- \
,
respect to the following revenues:
Passenger cars moved well,
111 ho™e furnishings,
^as spotty varying considerably by regions,
The total dollar volume of retail
trade in the week ended Wednesday> Janranged from 1% to 5% >
higher than last year, according
to sPot estimates collected by Dun ;
^ Bradstreetf Ino. Regional esti- «.
mates varied from comparable
l06* levels by the following per- f
New
follows:
was as
Participation in the profits of the Corporacion de
Ventas de Salitre y Yodo of Chile........... US$
serve
Last Year
?
1961 interest at the rate of $3.80
year
the
System
department
store
in New York City for the
ended
Dec, 30, were 7%
week
ended
Dec. ' 30
was
6.3% higher when compared with the
ahead' of volume in the corre-. same period in 1960. In the presponding week of 1960, the Ameri- ceding week ended Dec. 23, sales
can
Trucking
Associations
anwere
8% higher than the same
nounced. Truck tonnage was 17.9%
period last year. For the ' four
behind the volume for; the pre- weeks ending Dec. 30, a 9% in¬
vious
weekv of
this '^ear,
This' crease was reported
above the •
week-to-week
decline is closely 1960 period while from Jan. 1 to
jn-line with the seasonal pattern < Dec. 30, a 3% increase over sales; reflected for Christmas week durin the comparable period of 1960
ing past":;years.was recorded.
;
■
"
,
v.,
was
5580 and do not accept the new plan
under Law No. 8962 will be entitled to receive for the
a"Ces', continuf,d Ibod.?1"
a
Y above volume in the similar
a year ago.
Apparel, linens,
weeK
and
eentBges:
plan
of old Law No.
maintained
momentum
stationery
new
established in accordance with
Fund
purchases
of Law No.
I960..
American Motors 6.8%, and Studebaker-Packard Corp.; 1.4%."
!
58
1959.
manufactured
Co.
were
road systems originating this type
produced.- traffic in the current week com-
the
to
£13,047,971, US$80,439,000, Swiss Francs 66,415,900.
The Caja Autonoma de Amortizacion de la Deuda
Publica, in accordance with the provisions of Article 3
;
half
assented
pal amount of bonds of the External Debt
use. It is not
index.
Its chief
+5; East North Central 4-2 to -f 6;
<1,380 cars or 14.5% above the cor- South Atlantic 4*3 to 4-7; Pacific
Jan.. 8, started the first responding week of 1960 and 4,640 4*6 to 4*10.
■
which
and
price
44.94%.
After making these amortizations the balance of princi¬
•
cars
year
5580
Sinking
of these
Inc.
£ctlvlty
422,237 cars. This
or 18.8%
below
18,090 cars
were
of
External
have been withdrawn from circulation. The average
Bradstreet,
holiday surge in the Week ended4
Wednesday, Jan. 3, and, bolstered
6.1%
the
indirect
and
applied to the redemption of
following bonds, purchased below par: £677,159,
US$4,075,500, Swiss Francs ^2.,696,500, all of which
level.
some
4.5%
announced.
decrease
a
direct
of the external debt who assented to the
revenue
Railroads
97,994
week
for .'•last; week, on
,
Monday,
&
the
the
3 6%
Clearances Help Retail Sales in
Week Ended Jan. 3
the previous week and
or.
feut
the
*
e
17
Dun
No.
The
171,847
Friday,1 Jan. 5. Studebaker-Pack- highway trailers or highway con.ard Corp,; at South . Bend, *ind.. tainers
,(piggyback) in rthe; week
has been on strike since the New ended Dec.
23, 1961 (which were
Year
after
terminating an old included fin that week's over-all
three-year contract with its 6,500' total). This was an increase of
workers.
Iast
.to^ ^howat
prices
sale
139,889
178,875
included
holiday,
was
Law
of
Republic and the municipalities covered by
Law No. 8962 has been
above
•earlier
trend of food
compared with 1960
decrease of 2,430,769 cars
which
Jan.
q.2%
$593
bonds
i under the aforesaid Law No. 8962.
°" 3a"- 9. tha
cost-of-living
a
Loadings in the week of Dec. 30,
6, the first over<time scheduling for auto assembly
since mid ■* December> Chrysler
Corp. and American Motors conV eluded
a
same
slightly
recorded
Wholesale Food Price Index represents the sum total of the price
Per P°und of 31 raw foodstuffs
7.8% below 1959.
or
Motors
on
Gr
and
Corp. and Ford
Motor Co. had four plants in operation
was
cars
year ago.
General
186,461
American
the final week of 1961. Only 74,204
up
low
of
Debt of the
week
week
a
The
freight on
j railroads totaled 28,583,780:
jn 1961, the Association of
ciass
holders
Food
jower than the $6.15 in the similar
Above Corresponding Week ;
sumption of overtime schedules,
output will reach 122,808 for the
initial session of the month, which
began Jan. 2. This will be an increase
of 16.1%
over 105,782 in
units
147;548
Loading
the
initial
Post-yule
history. A
has been fore¬
with
five-week
to
week
111,570
Freight Carloadings Were
cast for entire 1962.
Ward's
the
edged
$5 g2
one
first-quarter
r
I960
195,307
2—154',399
Orders
industry
"second-best" year
the
1961 level-
Dec. 31,
1961
,f-J6*
112,783
shipments
passenger
Dec. 23,
Dec. so,
,
Production
said out-
of
;
Wholesale
and meats m general
*
_
.
put
schedules
the United
HaI? rit'
lalSnnn
approved by Law No.
July 20, 1948, announces that the fixed annual
interest of 3 % has been paid for the year 1961 to the
8962 of
this year, it
remajnecj below the corresponding
Following are the figures in
thousands of board feet for the
weeks indicated:
production in the U. S.
during January will be at the
highest level for any month since
4.-
in
10 2%
Auto
j.
•
j
the service of the external debt
Up
But
Index, compiled by Dun &
from
1960
in
147,548,000
board
feet,
compared with 186,461,000 board
feet in the prior week, according
to reports from regional associations. A year ago the figure was
139,889,000 board feet.
Compared with 1960 levels, output climbed 1.1% while shipments
advanced 5.5% and orders dropped
Ward's Forecast for 1962 Appears
mi.
u-
u
totaled
4 123.1
production
Week
Lumber shipments in
136 '
St. Louis
Total
Same
Index
Last Year
the
Bradstreet, Inc., inched
Shipments Were 5.5%
Above
131
Price
This Week
Below
Although
-
116
_
Food
Fractionally
kwh., or 9.5%
comparable 1961
1,394,000,000
-v-''
;
<«•»
nnn'nnn
estlmated at 16,021 000,000 kwh
.
from
'r
4 i V'
President
'
■i
"■
.
!-*
28
The
<1&2)
provide
Business and Stock.
the
Corqmercial and Financial Chronicle
buying
same
Continued from page
to go above
3
compares
research
f:
group
starts. The real strength
ing
■•■t
V;
begin
should
Another
sixties.
in
and other taxes have risen,
.This, plus the renewed em¬
phasis upon increasing
Federal
the
in
recovery
eration
♦
factor
although
in
Federal
in
it
spite of
is
favorable trade balance,
had; a deficit in the overall
®Ur favorable
balance will increase this year be¬
contributed to more cause
in Western Europe (an
ex¬
port source) the boom is levelling
and
in our recovery
times the
U. S. tends to import more.
.
.
It is not likely that
export-import, trade
Corporate prof its (all industries)
before
taxes
have
been
rising
fairly rapidly on an annual rate
basis since the first-quarter-1961
low of $39.6 billion and now stand
at $47.2 billion in the third quar¬
ter, 1961. However, net income
of some leading
corporations for
In
England the labor unions
little support for the g<Wernment plan to hold down wage
increases or to tighten credit. Wage
claims are "stacking up" in the
U. S., too, and it is not
likely that
show
the third quarter 1961 was down
2% from the second quarter, as
pear
and
strong
for
1962,
profits before taxes
with two children provided
trends'- ap¬
production
ing
corporate
are
not
investment
power
income
likely
a
buy¬
of $9,731, after Federal
and
social
Today, it takes
a
security taxes.
$26,476 salary to
to
in
ket.
Today's ratio would be much
lower if we could appraise a rela¬
haif
it
ment/choice' is/the ratio of stock
yields to bond - yields.' Currently
A
bonds
' •"')■j
.
/■
j
The 1962
r
market, from investmenL to specu¬
lative types!
are
of
would become very attractive for
dividend
messages in that
includes the State of the
large institutional markets if the
Aerojet-General, American Steel
Foundries, Bobbie Brooks, BorgWarner, Cleveland Electric Illu¬
minating, Detroit Edison, du Pont
(E. I.)
de Nemours, Grumman
Aircraft, Lockheed Aircraft, Man¬
on
Jan.
10.
The
flow
yield from 4%%
in
sequent actions
yield
Congress will
determining factors bearing
the
framework,
b
a
raise
1962.
what
is
of
economic
the
investors
outlook
flation
stocks in 1962? Stand¬
Poor's
industrial
stocks
newed
currently
20 times
are
selling
earnings and
at
much
around
were
the earlier quarters
rather,
or,
inflation
inflation
in
(Ind.),
ratios
fear
of
consumer
of 1961
is
Mttle
estate
or
*An
or
fear' of
no
investments
account
for
Issue of
a
stock
high
level
of
ratios for util ity
ratios
left-handed
a
not
-are
alone
that
★ The
for
with
in 1962?
more
|
the
various
'
industries
face
•
■
..
likely to happen to prices and values of securities in
ious
.
;
•
//;:/'.
■
You will find the
others
The
in
the
v
'■
•
,
\
'
:';A:i\'Av
"A-
it
■//;////•// //;'
than
pros¬
opportunity to advertise
Firm, Corporation
or
The
itself
January 18th issue.
action
in
!
'% 23 Firfe Phlce>Newv
REctor 2-9570
>
%
this
state
of
give,,
capital
cases,
a
of
the stock
factor
For
is
in
se¬
despite high ratios.
action
is
appreciation
'A-
AV.,.,:/.,;
field.
;•/ ';./• / //A v'
Net proceeds from the financing
will
be
used
•
to
retire
mortgage
indebtedness, and -certain; bank
loans;.to' expand the.sales efforts
for: its product's; and for working
capital.
Western //• /'V •"
Semiconductors, "\v.
Stock Offered
Currier
&
Carlsen, Inc., 233 A
Street, San Diego, Calif., is offer¬
not
an
in
1962,
-
market
business
re¬
however,
its
expected
to
be
expansion factor
as
as
/
recovery
relatively.
Although
Western
Semiconductors, Inc.,
share. Net proceeds will
be used bv the' company for the
repayment of debt, product evalution tests, advertising and working
capital.
at $3 per
,
The
periods. Busi¬
ness
profit margins
have
been
trending down and labor costs
THE COMMERCIAL AND
FINANCIAL CHRONICLED
'
at
During 1962 the im¬
earnings prospects of the
recent
rising,
■
profits/Squeeze
a
likely
important
for space in this issue
//
not
covery!
Regular advertising rates will prevail
<>
ing publicly 100,000 capital shares
lected
your
If
hope
to
many
investors
that
growth in earnings per share and
increased cash dividends will pro¬
Bank in this
composite cross-section of America's most
competent busi¬
ness and financial
opinion which will appear in the
better
growth
current recovery cycle should
featuring the opinions and forecasts
country's foremost Management Executives.
Do not miss the
records,
liquor: The company has also
recently entered/the greeting card
of
duce
★
*
This action will include the
stocks.
is
phonograph
the recovery.
to
Chronicle
of the
with
a
.
and
reasonable returns and
earnings
of
proved
these questions and
many ":.A
Review & Outlook? Issue of'
answers
"Annual
[//A;// A"
turers;
the
develops and inflation fears van¬
ish, it is possible that about five
points of today's price-times-earn¬
ings ratios could disappear, but
1962?
common
exceeds
of higher or lower apowing / to the different
.inflation-hedging qualities of var¬
4—What impact will the Administration's
and Congress'
foreign poli¬
cies and domestic
program have on business conditions in 1962?
////■.</.■•
far
praisals
major problems that
in 1962?
3—What is
pects.
of
Crane
men's shirts, ladies-' hosiery, towels
making
the
are
funds
industries
average
of busi¬
sale
Susan
in¬
continued
for
public
of
all
investment from
marked by a constant
foraging by
professional investors: - for stocks
perspective on the new year's possibilities from the
banking and corporation leaders who manage the
country's industries.
ness
about
supply of stocks, this means
strong demand for
stocks.
Therefore,-1962 will be
★ Get your business
2—What
have
new
a
Club,
1962.
ment and specialty stores. It also
designs aLd manufactures [ special i
packaging for products of national
manufacturers,, such as manufac¬
compliment, but
$18-$19
keep busy, and
total/ new/money avail¬
the
able
1962 "ANNUAL REVIEW &
OUTLOOK" Issue will present the
opinions and forecasts of the nation's
banking and corporate leaders
on
the probable course of the nation's
economy in the year ahead.
Economists
2,
gift wrapping materials, consisting
of
wrapping paper, ribbon and
ornamentation, for use by depart¬
billion of funds to
r-
Jan.
Row, Dallas, Texas, and its sub¬
sidiaries, design and manufacture
consider that the mutual
we
funds
Ohio,
Packaging,
Inc. is being made
through the
offering of 150,000 shares, at $10
per
share, by an underwriting
group headed by C. E. Unterberg,
Towbin Co., New York City.
attractive investment field
more
is
.
course
partner
Common Offered
into which their money could flow
instead of common stocks.
This
factors underlying the general
W
The company of 8107 Chancellor
stitutional
the basic
&
by Mr. Barker before the
Business
Initial
the
times-earnings
:
are
H
Packaging, Inc.
are
higher.
when
1—What
an
Susan Crane
stocks and the fact that industrial
-
Jer¬
renewed
many
institutional in-,
vestors find it difficult to discover
January 18th
that
address
Cleveland,
Today
Will Be Published
(New
on
Cleveland
generally
considered the best hedges for fast
inflation, investors may „well be
contemplating a renewed, "creep¬
ing" type of inflation. This couid
A
THE. CHRONICLE
Oil
the Board of American Steel
Foundries and Borg-Warner).
prices this past year).
utility stocks, priced at over
times earnings, seem to indi¬
20
"Annual Review & Outlook"
,
A
(G, D.), SoStandard
Oil
Oil,
Standard
mention
re¬
haven't had
The
'
"
•
wholesale
above
po
bp
■/>
••
sey), Trans-World Financial, and
U. S. Borax & Chemical. (I should
indicate
strong inflation. At a relatively
slow,
steady rate
of
inflation,
utility earnings are capable of
discounting the effect. Since pri¬
marily industrial stocks and real
fr
Mobil
cony
a
(we
>
Express, Searle
way
discounting in¬
are
A-
apolis-Honeywell, North American
Aviation, Random House, Road¬
newlysatisfy the
stocks
•'
ufacturers Hanover Trust, Minne¬
price-earnings
industrial
>'
rates
of
to
seems
payers:
larger
the
demand.
high
the
that
common
&
rates
rediscount
volume
bonds
The
ove
the
institutional
Stocks
the
Meanwhile,
on
issued
confidence in the dollar.
Given
interest
of
not
would
of
for
group
4%%,
expected to trend up¬
ward in the next months, and if
there were not a distinct possi¬
bility that the Federal Reserve
anticipated for
fiscal year ending next June
30, the President's talks and con¬
Outlook
level
general
were
the
The
to
3%.
times-earnings
•,a:
1962
following
3% and industrial stocks less thap
Bonds offering these yields
decisions
Union talk, the Budget talk, and
the Economic Report of the Presi¬
dent. With a Federal budget defi¬
cit of $6.9 billion
A
the
of 20 stocks represents an
interesting cross sectiop of the
convened
'
ftlir <
that
believe
I
whereas utility stocks return about
vital
are
PONT MISS IT!
•' "
.
Some Interesting" Stocks for
,
month
in
.'yV
optimistic caution.
of alternative invest¬
measure
especially., .Some would call
period for cautious optimism,
calling for
a
but I would term it one
good quality industrial and utility
Presidential
20
However, there should
opportunities for;. significant
capital gains in 1962—in the first
reactions.
be
1936 bull mar¬
tive replacement cost for the book
value denominator.
:
housekeeping and on
lending and spending abroad to
be made by the Congress, which
ard
value
book
arise
investment toward this
or
There
for
times
matters,
in
a
financial
on
2.3
.
gener¬
as
purpose.
be the
and
1929
at the peak of the
cate
..
20
of
eafnings.^This
prices -of
increased
of
saving
times
American unions will be any more
understanding of foreign compe¬
reported by the First National tition, rising prices, and currency
City Bank Monthly Letter of No¬ weakness. Back in 1939, a salary
vember 1961. Therefore,
although of $10,000 for a married couple
sales
business
productivity.
Dollars withdrawn from the pri¬
vate. tsector arcr pot" available tor
a
ing abroad.
,,
ator
expendi-
balance of payments due to spend¬
price weaknesses, and lessens
plant
construction that in the past re¬
of
ment
plant and equipment
- this
leads :ots; to. ;the
balance of payments and value of
the dollar issues.
Last year, in
to
•
cash
round¬
Growth
for
standard
of
living
improvement requires encourage¬
re¬
the current
to be the accel¬
appears
the relative increase of new
rapid growth.
en¬
.
we
has
as the country
1954 and 1958
a
about way for the recent decline
in business fixed investment (net).
The special factor in
now being narrowed.
This has a
double-barreled impact. It tends
coveries
expenditures, accounts in
$52 billion, and
mid- turesi vand
dragging
industries,
or
coveries.
for hous¬
the
is the degree of excess capacity
many
force
recovery
joyed
analysis, probably will
not have any boom effect until
later
than
1962,
although 1962
should be a good year for new
age
$51
Thursday, January 11, 1962
around
earnings in the
with
18
too.
this factor will not be as strong a
based on our
department's population
lower prices and
on
local
household formation,
.
opinion on divisive national
great uncertainties, may
among investors within the
1929
and
1936-37
bull
markets. critical policy-making
period of
and
February.
Con¬
However, the current S & P in-/ January
dustrials' market value is about sequently,
a
substantial market
2.4
times
book value,
price fluctuation in stocks may re¬
versus
a
level of three times book value sult from investors' psychological
power
after just those taxes and allowing
for higher prices—and state and
Market Outlook for 1962
4.
.
the
company." of 605-G
Alton
St., Santa Ana, Calif., is engaged
in
the design,
manufacture and.
sale
of
semiconductors
mercial
and
conductors
military
are
for
com¬
use/Semi¬
devices
for
con¬
trolling the flow of.electrical cur¬
rent by making use of the special,
characteristics of certain
crystals,
principally -of A-silicon /or/: ger-/
They perform most of
manium..
Dow -Jo pes industrial
average may- the functions of vacuum
tubes and A reach higher levels in the earlier ■
are" used in: practically
every type;
part: of c 1962/.itLii not expected,
of electronic circuit/ The
company/
that it will be at a higher level
manuf actures a line - of semicon-,
than about 750 around the latter
ductors which
may
be grouped
-part of 1962.
into three categories,
diodes, recti¬
-
Because
of
the
strong conflicts
fiers
and
voltage regulators.
v.-
195
Volume
Numbfer 6124
*
The Commercial and. Financial Chronicle
,
(19>3)
Indications of
The
following statistical tabulations
latest week
week
Latest
AMERICAN
IRON AND
Indicated
steel
(per
capacity)
cent
Jan.
...
or
Previous
Week
INSTITUTE:
STEEL
operations
Week
6
78.5
or
month ended
Month
on
A
Year
Ago
72.0
ingots and.castings
AMERICAN
Crude
f42
PETROLEUM
oil
and
gallons
Crude
(net tons)-
Ago
74.0
46.6
outputs—daily
each)__
Gasoline
output
Kerosene
output
fuel
Residual
fuel
7,299,760
7,197,910
8,429,000
30,732,000
8,307,000
29,801,000
8,473,000
Dec. 29
31,076,000
30,058,000
:_i
^
(bbls.)
oil
Dec. 29
3,260,000
3,126,000
3,086,000
3,207,000
14,722,000
13,795,000
6,728,000
Dec. 29
Dec. 29'
(bbls.)
6,508,000
(bbls.)
194,640,000
32,531,000
189,664,000
186,234,000
32,794,000
155,575,000
36,102,000
173,761,000
142,246,000
45,745,000
46,277,000
^
news-record:
Public
and
in
,i'
1
Dec. 30
—
422,237
V
520,231
483,711
412,503
:
573,701
404,147
476,661
Other
.r
390,507
Personal
4
$381,100,000
$256,600,000
$316,900,000
124,500,000
189,500,000
4
"256,600,000
'i—
Jan.
4
164,300,000
-
127,400,000
107,000,000
286,300,000
LIFE
220,300,000
20,400,000
Dec. 30
6,155,000
Dec. 30
—
258,000
AVERAGE=100
*8,610,000
/
*
V 356,000
failures
(commercial
.
and
»itA'o£TKEET,, inc..
LIFE
8,870,000*
368;000
—I
I
Jan.
-
industrial)
s
*358
238
116
dun
—
.
3,008
3,020
11,715
11,001
13,032
12,337
11.923
4,566
.
_
;
___
PURCHASES
;
.
of
;v,:
.
4,301
4,684
4,395
4,463
3,468
3,370
3,159
INSTITUTE
—
INSURANCE—Month
October
,■V':V"
/
—
■>?
;
*,;
,
h
■'
y'S
$4,691
>
—I—
6
16,021,000
15,378,000
16,084,000
14,627,000
4
231
222
295
265
•
$4,130
614
$4,354
:
578
.1,543
,
.
$6,848
-•
1,158
:
-;
<
SST
1,289
$5,866
$6,230
*$30,860
$31,180
INVENTORIES
&
SALES
(millions of dollars):
v,X
6.196c
6.196c
6.196c
6.196c
Inventories—
Durables.:
Jan.
10,715
3,192
42,703.
—Month, of November
&
•
10,805
•
MANUFACTURERS'
*
17,967
11,215
—
loans
Group
>-380,000
17,186
4,880
f
Industrial
•
•
$54,626
'42,714
16,960
—
:
(000's omitted):
6,953,000
$55,051
42,419
~
11,052
._u.
Total.———
Dec. 30
/
,
kwh.)
.000
J:'
i
—
INSURANCE
OF
66,000,000
$55,451
credit
V
accounts-
Ordinary
INSTITUTE:-
(in
term
—
.
credit
295,000
i
,
credit
payment
802,000
102,000
__
loans
Charge
121,400,000
Jah-
136,100,000
120,500,000
104,200,000
16,300,000
1,097,000
838,000
RE¬
30:
goods
Service
$407,700,000
4
778,000
980,000
SERIES—Esti¬
intermediate
of Nov.
consumer
Single
Jan.
—Jan.
—
'•
Electric, output
FEDERAL
Repairs and modernization loans
DEPARTMENT STORE SALES INDEX—FEDERAL RESERVE
ELECTRIC
THE
credit——
creditAutomobile—
;sy:/
*—,--r
—
municipal—.
SYSTEM—1947-49
and
as
consumer
Noninstalment
92,300,000
:
millions
Instalment
.
COAL OUTPUT (U. S: BUREAU OF MINES).:
Bituminous' coal and lignite -(tons).
Pennsylvania anthracite .(tons)---
EDISON
OF
SYSTEM—REVISED
short
1,091,000
116,000
GOVERNORS
Total
^
;'.r; <
.v,
construction
State
OF
SERVE
construction—engineering
Total U.' S. constructionPrivate - construction
.
46,092,000
$1,875,000
;
CONSUMER CREDIT OUTSTANDING—BOARD
195,703,000
47,532,000
$2,071,000
688,000
663,000
547,000
.J
—
f-
Ago
$1,351,000
~
~
.
municipal—
Federal
32,048,000
151,880,000
29;
and
mated
._Dec. 29
at
State
,
6,706,000
Dec. 29
——
"freight loaded (number of cars)—
civil engineering
r
"13,707,000
6,438,000
Year
Month
(000's omitted):
.
8,245,000
Dec. 29
;
;; Revenue rfreight * received -f torn, connections (no; ot cars)—Dec; 30
;
;'14,699,000-'
Previous
Month
Month
—
Public construction
■
I
_Dec.
at.
at
ASSOCIATION OF AMERICAN RAILROADS',
Revenue
of December
7,149,160
•
bulk.terminals, in transit, in pipe lines—
oil
fuel
1,361,000
7,384,210
Kerosene
Distillate
2,158,000
Dec. 29
Finished and'unfinished gasoline
(bbls.) at
:
:/
2,106,000
—Dec. 29
output- (bbls.)——
output (bbls.)
oil
fuel
2,294,000
i
(bbls.)
Distillate
Residual
6
RECORD
Total U. S. construction
Private construction
(bbls.)
average
(bbls.)
Stocks at refineries,
ENGINEERING NEWS
of
—
stills—daily
oil
(bbls.
average
Latest
CIVIL ENGINEERING
CONSTRUCTION—
INSTITUTE:
condensate
to
runs
Jan.
cover production and
other figures for the
Dates shown in first column are either
for the
that date, or, in cases of
quotations, are as of that date:
month available.
Equivalent to—
Steel
29
.i—„—
—
$31,050
:
Nondurables——
v
23,520
'
*23,370
.23,040
$54,570
*$54,230
$54,220
32,230
*33,460
29,650
139,360
2,691,690
*140,264
ii
154,711
Copper (in short tons)..
Lead (in short tons)———!
Zinc (in short tons)
♦2,712,625
2,337,581
104,102
20,352
*97,834
20,523
18,137 ;
39,149
37,516
28,201
IRON AGE COMPOSITE PRICES:
*
■tf-unaiica."steei
Pig
Dec. 29
xo.j
iron
(per gross ton)
steel (per gross ton)
Scrap
METAL
PRICES
Electrolytic
Export
Lead
(E.
&
30.600c
30.600c
30.600c
27.875c
28.050c
27.925c
3
10.250c
10.250c
10.250C
11.000c
3
10.050c
10.050c
10.050c
10.800c
3
12.500c
12.500c
12.006c
12.500c
.Jan.
3
12.000c
12.000c
11.506C
12.000c
.Jan.
3
24.000c
24.000c
24.000c
26.000c
120.000c
122.250c
100.625c
.Jan.
3
9
,
.
:<
120.375c
.Jan.
•
86.37
9
9
~
;
"•
'i
86.27
91.05
87 86
88.27
88.95
M
85.59
85.46
MOODY'S
-'
iU:
S.
81.45
80.93
83.53
84.04
Average
.Jan.
9
87.32
87.18
87.18
87.86
.Jan.
9
87.86
37.59
87.59
88.27
.Jan.
9
4.08
4.11
:-dzzz .Jan.
4.08
.3.89
9
4.70
4.71
9
4.43
Group
YIELD
DAILY
•
Jan.
9
Jan.
Public
I
Group__—.L
MOODY'S
9
INDEX
1949
(tons)
4.40
4.54
4.57
4.54
end
of
4,74
4.75-
4.70
5.10
5.11
5.08
4.92
4.93
4.90
4.86
4.61
4.62
4.62
of
4.59
4.54
9
378.2
374.9
371.8
264,569
346,452
334,531
331,983
163,709
period
52
95
90
39
444,764
400,276
484,863
371,656
-Dec. 31
99%
115.57
113.83
114.00
sales
Total
off the
floor—
2,310,180
2,802,990
441,530
537,820
470,320
the
on
38,700
429,890
446,820
sales
1,103,419
1,019,783
138,520
1,127,210
126,610
Utilities
Banks
138,800
Dec. 15
1,986,345
1,017,535
1,014,200
737,835
2,112,955
1,156,055
1,123,680
MOTOR
876,635
Dec. 15
5,095,889
4,206,903
sales
Dec. 15
702,420
4,703,713
628,860
4,998,230
Short
828,650
Other
670,410
sales
Dec. 15
5,087,465
4,004,795
4,154,970
5,789,885
4,633,655
4,983,620
4,076,705
sales
sales
Number
Dollar
of
by
dealers
(customers'
shares
short
sales
Customers'
other
sales
2,182,048
2,150,384
$116,310,161
$118,360,027
2,166,941
$119,942,374
2,300,559
2,327,344
1,827,512
9,737
10,968
13,691
2,313,653
11,468
1,816,044
U.
$77,906,877
2,226,482
Dec. 15
iZ.
1,567,882
S.
2,216,745
2,289,591
$110,190,295
$114,386,705
—Dec. 15
722,710
As
of
Dec. 15
ROUND-LOT STOCK
SALES
ON
of
THE
Dec. 15
shares—
N.
Y.
STOCK
EXCHANGE AND ROUND-LOT STOCK TRANSACTIONS
FOR ACCOUNT OF MEMBERS
(SHARES):
•
Total
round-lot
sales—
,
$119,362,799
$■.
741,720
;
• '
722~710
712,390
'
$1.70000
$1.70000
$1.60000
$1.50000
$1.50000
$1.50000
$32,800,000
$32,700,000
$32,100,000
3.43
December:
V.h
•;
&
Tel.)
(10)
:
IN
S.
SALES
AUTOMOBILE
ASSN.—Month
of
392,110
Dec. 15
22,910,590
21,610,610
MANU¬
736,916
753,366
611,264
627,301
646,509
106,847
522,747
*$1,631,300
$1,743,900
1,340,000
1,006,630
1,176,300
1,157,200
motor
21,559,220
22,565,850
17,720,580
18,557,590
S. DEPT. OF
119.5
119.4
118.8
119.8
Jan.
'Revised
88:4
86.9
109.6
108.2
IMPORTS
of
October
29
(000's
LIMITATION
omitted):
that
may
be
outstanding
$293,000,000
297,010,508
290,216,815
330;,15ft
314,519
155,938
$296,498,920
$297,325,028
$290,372,753
438,962
401,555
$296,060,517
$296,886,066
$289,971,198
.1,939,482
1,113,933
.3,028,801
$296,060,517
$297,325,028
$290,372,753
6,494,287
6,260,506
6,411,189
$289,566,230
$291,064,522
$283,961,564
under
UNITED
,
:
„•
owned
by
the
and
foods
'
1
outstanding public debt obli¬
total
face
outstanding
of obligations
authority
amount
above
STATES
GROSS
DEBT
issuable
DIRECT
AND
GUARANTEED—(000's omitted):
of
Dec.
29
funds
-
balance
debt
Computed
110.0
95.7
95.1
93.4
Jan.
127.8
127.7
127.5
98.5
-
figure. "fNumber of orders not reported since introduction of Monthly Investment Plan.
tPrime Western
delivered basis at .centers where freight from East St. Louis exceeds
one-.half cent a pound. NA. Not available.
AND
annual
average
3.135%
3.123%
88.9
109.8
Jan.
—
farm
88.5
Jan.
:
88^17
v.
EXPORTS
face amount
General
Jan.
:
other than
109,615
$298,000,000
Net
foods
—
coaches
CENSUS—Month
(1947-49=100)1
All commodities
on
cars
and
837,010
Commodity Group—
Meats
trucks
$298,000,000
As
products
2.76
3.49
December:
vehicles
passenger
Deduct—Other
„
755,410
20,855,200
Processed
1.98
2.93
FROM
obligations
•
867,140
Farm
5.61
2.10
FACTORY
U.
of
OF
Dec.
649540
*
|
22,043,450
commodities
3.92
$1,889,600
of
Grand
Dec. 15
All
3.57
2.83
2.91
STATES
Balance
—Dec. 15
U.
2.74
.296,168,761
«
sales
—
2.96
4.80
2.88
(24)—
2.92
4.86
Tel.
Total gross public debt and
guaranteed
.587,590
sales
sales
$2.25
$82,000
$1.50000
a
Short
LABOR
$2.25
$82,000
649,540
757~760
Other
Total
$2.25
$1.60000
—
Total gross public debtGuaranteed obligations not
,
$84,360,682
'757,760
7~41~720
587,980
'
'
WHOLESALE PRICES, NEW SERIES
74.000c
YIELD—100
of
at any time
Outstanding—
Dec. 15
sales
23.250c
$82,000
Treasury
Round-lot purchases by dealers—Number
TOTAL
-
AVERAGE
GOVT. STATUTORY DEBT
Round-lot
Other
26.000c
23.250c
81.250c
gations not subject to debt limitation——438,403
Dec. 15
Dec. 15
sales by dealers—
'■ r
Number of shares—Total sales
Short sales
;
24.000c
23.250C
(000's omitted):
Total
value
29.000c
29.500c
$1.60000
Exports
Dec. 15
"
32.590c
32.500c
33.000c
24.000c
i_
Imports
Dec. 15
value
Dollar
•
36.250c
32.500c:
33.000c
(200)
BUREAU
Dec. 15
Customers'
sold
36.250c
■
purchases)—t
Odd-lot purchases by dealers (customers'
sales)—
Number of orders—customers' total sales
>
$35,000
$209,000
2.75
Number of
COMMISSION
'
$35,000
$189,250
.
incl. Amer.
number
UNITED
101.161c
$35,000
pound)
(125)
(25)
VEHICLE
Number
STOCK TRANSACTIONS FOR ODD-LOT ACCOUNT
OF ODDLOT DEALERS AND
SPECIALISTS ON N. Y. STOCK
EXCHANGE — SECURITIES EXCHANGE
Odd-lot
122.913c
91.375c
79.463d
$2.80737
$190,000
3,406,295
Dec. 15
Total
;
121.013c
STOCKS—Month
(not
PLANTS
Total
purchases
92.313c
80.455d
$2.81494-
pound)
FACTURERS'
of members—
account
£82.747
87.059d
(15)
Average
883,413
,*
109,480
Dec. 15
for
Industrials
397,080
Dec. 15
,
£70.688
103.325c
pound)
(per
WEIGHTED
Insurance
^
sales
transactions
(per
Railroads
358,280
529,190
12.976c
£82.763
$2.80964
,
(per pound)
(per
12.476c
12.000c
81.250c
COMMON
floor—
.
,
Total round-lot
MOODY'S
38,800
408,120
Dec. 15
initiated
purchases
Short sales
19,900
409,990
11.500c
£69.574
£72.434
MONEY IN CIRCULATION—TREASURY
DEPT.
As of Oct. 30 (000's omitted)
453,340
61,300
417,890
Dec. 15
:
Total
Total
2,732,650
3,413,120
Dec. 15
sales
Other
2,577,270
3,047,710
Dec. 15
transactions
Total
2,633,230
3,147,740
Dec. 15
sales
Total
492,810
e
sales
Other
2,876,150
680.470
Dec. 15
initiated
purchases
Short
3,400,700
470,440
Dec. 15
i
Other
3,242,400
£82.747
12.475c
refined (per pound)
(per pound, delivered ton lots)
(Per pound,
small lots)
:
Cobalt, 97% grade (per pound)
514,510
£61.372
11.975c
Cadmium
3,454,650
11.181c;
£82.763
£71.362
;
Platinum,
Dec. 15
sales
bulk
11.381c
10.003c
£60.398
£61.546
(per long ton)
"Nickel
Bismuth
109.70
Dec. 15
10.203c
10.050c
grade ingot weighted average (per lb.)
grade primary pig export
99%
*
5
£228.169
Aluminum—
INDEX—
.Jan.
York, boxed
Laredo, boxed
specialists in stocks in which registered—
transactions
10.250c
28.036c
£229.341
Antimony—
231,673
241,356
29.600c
£230.981
£60.470
(per ounce U. S. price)
Quicksilver (per flask of 76 pounds)
Laredo,
291,340
purchases
Other
Total
V
long ton)
Gold
360.3
Dec. 31
sales
Other
(per
Sterling Exchange (check)
Tin, New York Straits
tlNew
AVERAGE—100
Short
prompt
-
28.005c
£229.318
;
£230.421
Silver, New York (per ounce)
Silver, London (per ounce)
4.57
4.59
30.600c
28.072c
£229.934
(per pound)
Western, delivered (per pound)
§§Prime
TRANSACTIONS FOR ACCOUNT OF MEM¬
BERS, EXCEPT ODD-LOT DEALERS AND SPECIALISTS
Total
.
ttLondon, prompt (per long ton)
ttLondon, three months (per long ton)
Silver and Sterling
Exchange—
ROUND-LOT
Transactions
30.600c
<
-
Zinc—
4.49
4.74
5.09
.Dec. 31
at
.
ttThree months, London
4.34
4.57
.
activity
orders
4.43
.Dec. 31
OIL, PAINT AND DRUG REPORTER PRICE
98,049
QUOTATIONS)—
Common, New York (per pound)
Common, East St. Louis (per pound)~1
4.6a
9
.Jan.
NATIONAL PAPERBOARD ASSOCIATION:
Orders received (tons)
Production
(tons)
Unfilled
-
4.70
.7
9-
,1
of
'
refinery (per pound)
tt London,
'
.Jan.
Jan.
COMMODITY
.
9
Group
Percentage
'
.Jan.
;
Utilities. Group—
Industrials
(E. & M. J.
——.1
East St. Louis
:
.Jan.
-
;
83.28
'
corporate
Railroad
85.59
81.17
v
AVERAGES:
Bonds.
Aaa
Aa
9
Group
BOND
PRICES
;
Lead—
81.29
83.15
9
Jan.
I
;
Government
the
Export refinery (per pound)
ttLondon, prompt (per long ton).
ttThree months, London (per
long ton)
86.11
'
9
Jan.
.Jan.
Industrials
of recoverable metals in
December:
86.78
90.20
.Jan.
Utilities
METAL
87.02
86.11
89.78
v':''
89.78
86.17
85.98
;
86.11
9.
.Jan.
:
MINES)—
(in fine ounces)
Silver (in fine ounces).
Domestic
.Jan.
Groups
OF
Copper—
.Jan.
Public
(BUREAU
of October:
Gold
AVERAGES:
corporate
Baa
'
OUTPUT
United States-
27.600c
.Jan.
Aaa
-Railroad
-I.
METAL
29.600c
3
.Jan.
at
3
.Jan.
at
at:
BOND PRICES DAILY
Government Bonds
Average
$29.17
Sales-
$66.32
$32.83
.Jan.
MOODY'S
■
$66.44
$35.17
.Jan.
,
(delivered) at
Zinc (East St." Louis) at——.
Aluminum. (pr-imary pig, 99^5%)
Straits tin ,(New York) at-
-
$66.44
/
.
QUOTATIONS):
tZinc
S.
$37.83
Month
at
at
York-)
Lead-(St:. Louis)
U.
$66.44
Dec. 29
Mine production
refinery
refinery
(New
M. J.
Dec. 29
.
-
copper—
j"? i Domestic
V
iper
127.9
♦Revised
96%
end
of
primary,
tEstimated totals based on reports from companies
accounting for
95% of secondary tin consumption in 1957 and 97% of total stocks
of 1957.
llDomestic five tons or more but less than carload lot boxed.
§§Delivered
from East St. Louis exceeds 0.5c.
**F.o.b. Fort Colburn, U. S. duty
tt Average of daily mean and bid and ask
quotations per long ton at morning
session of London Metal Exchange.
where
Zinc
3.137%
figure.
freight
included,
...
V
.The Commercial and
,
(194)
30
>
'
Financial Chronicle
...
Thursday, January 11, 1962
'
*.
ADDITIONS
* INDICATES
Registration
in
Now
Securities
Airtechnology Corp.
number of issues
awaiting processing by the SEC, it is becoming
increasingly difficult to predict offering dates
with a high degree of accuracy. The dates shown.i
in the index and in the accompanying detailed
items reflect the expectations of the underwriter
but are not, in general, to beconsidered as firm
NOTE
—
Because of the large
offering dates.
~
i
,
(yV. T ,r
^..
■
.•;'
1961
15,
vestment ;in
T
and working
of Florida
Corp.
International
(1/29-2/2)'
Proceeds—Re¬
payment of loans, expansion and working capital. Office
Dec. 18, 1961 ("Reg. A") 75,000 common. Price — $2.
—6900 West Road 84, Fort Lauderdale, Fla. Underwriters
Business—Sale and rental of mobile homes, trailers and
/' —Stein Bros. & Boyce, Baltimore and Vickers, McPherrelated accessories. Proceeds—For debt repayment and
son & Warwick, Inc., N. Y;
•
general corporate purposes. Office—7440 E. Calf ax Ave.,
• Alan-Randal Co., Inc.
(1/29-2/2)
Denver. Underwriter—Coplley & Co., Colorado Springs,
AAA Trailer
*•
Inc.
Sales,
and components.
electronic, mechanical
'
,
Oct. 27, 1961 ("Reg. A") 120,000 common. Price—$2.50.
Business—Distributor of pens and other advertising ma-
Colo.
Air Freight Co.,
ABC
Inc.
.
Price-~By amend¬
ment.
Business—Furnishing of air freight services
throughout the U. S. Proceeds—For expansion; Office
—467 Tenth Ave., N. Y. Underwriter—Flomenhaft, SeidOct. 25,
1961 filed 105,000 common.
jfterial. Proceeds
•
Chemical
ceeds—For
penses.
derwriter—David Barnes & Co.,
Co.,
Inc.
_
and
Aero
Electronic Products Co.
Price
•
relocating to and equipping a new plant, purchase of
P
28, 1961
&
te
•
Aero-Dynamics Corp. (1/29-2/2)
Aug. 7, 1961 filed 100,000 common shares. Price—$5.
Business
The importation and distribution of Italian
marble and mosaic tiles.
Proceeds — For the purchase
♦ f
i;
Office
and
installation
of
new
i
>
j»
t i
P.
a
*
/"
».-■
i,'
tiles.
«
r-
filed
200,000
shares
of
Dec.
15, 1961 filed 150,000 common.
ment. Business—Manufacture of standard and
amendment.
Business
storm
—
The
windows
manufacture
and
doors,
and
and
debt
special in¬
Proceeds—For
fasteners.
repayment, equipment arid other corporate pur¬
Office—Lawson Blvd., Oceanside, L. i., N. y. Un¬
Co., N. y.
derwriter—S. D. Fuller &
American Book-Stratford
Oct.
Business—Manufacture
ment.
(1/29-2/2)
Price—By amend¬
Press, Inc.
27, 1961 filed 430,000 common.
books for
of hard-bound
Proceeds—For selling stockholders.: Office
Varick St., n. y.
Underwriter—Bear Stearns &
Co., n. y.
t-v: /
American
Building Maintenance Industries
-: :;(1/29-2/2) ". :• •• r. •
Oct. 19, 1961 filed 141,000 capital shares, of which 30,000
shares are to be offered by the company and 111,000
.
stockholders.
by
Price—By
Busi¬
amendment.
ness—Providing of building maintenance services. Pro¬
ceeds—For general corporate purposes. Office—335 Fell
St.,
San
Francisco.
Underwriters—Carl
M,
Loeb,
Rhoades & Co., N. y. and Sutro & Co., San Francisco.
-A- American Cardboard & Packaging Corp.
Jan. 5, 1962 filed 150,000 common. Price—$3.50. Business
—Manufacture
and
sale
of
cardboard .boxes,
display
boards, etc. Proceeds—For general corporate purposes.
Office—2900 n. 11th St., Philadelphia. Underwriter—
Milton D. Blauner & Co., n. y.
American
Development Corp.
Nov.
29, 1961 filed 60,000 common. Price—$6. Business
—Development and sale of Vacant land. Proceeds—Debt
repayment and other corporate purposes. Office—1068
Broad iSt., Newark, N. J. Underwriter—To be named.
American
Dec.
Diversified, Inc.
'
"
21, 1961 filed 110,000 common. Price—$7.50. Busi¬
holding company whose three subsidiaries are
ness—A
a
life insurance company, a
loan
and
finance
and
a
eral
broker-dealer-underwriter,
Proceeds—For gen¬
corporate purposes.
company.
Office—930 Grant St., Denver.
Underwriter—Nation-Wide "Underwriters, Inc., Denver
(a subsidiary).
" '
American
April
21,
Finance
1961
filed
Co.,
(1/29-2/2)
of 6% convertible
Inc.
$500,000
sub¬
ordinated debentures due 1971; 75,000 shares of common
stock, and 25,000 common stock purchase warrants to
be offered for public sale in units consisting of one $200
debenture, 30 common shares and 10 warrants. Price—
$500 per unit. Business—The company and its subsidi¬
aries are primarily engaged in the automobile sale fi¬
nance, business. One additional subsidiary is a Maryland
savings and loan association and two are automobile
bentures, and capital funds. Office — 1472 Broadway,
y. Underwriter—Myron A. Lomasney & Co., N. y.
Note—The SEC has instituted "stop order" proceedings
challenging the accuracy and adequacy of this state¬
,V-;aV-
,
+
1961 filed 225,000 common. Price—By amend¬
Business—An aluminum smelter and refiner en¬
YOUR PRIME SOURCE FOR
1
tf
1961
filed
155,000
class
A shares. Price—By
and
Business—Wholesaler
distributor
of
manufactured by others. Proceeds—For
working capital. Office — 412 N. 6th St., Philadelphia.
Underwriters—C .C. Collings & Co., Inc. and Harrison
Co., Philadelphia.
;
*
y
;
.
Alson
(2/13-16)
Aug. 28, 1961 ("Reg. A") 75,000 common/Price—$4. Pro¬
ceeds—For equipment, repayment of loans and working
capital. Office—2690 N. E. 191st St., Miami, Fla. Under¬
Mfg.
Co.
Proceeds—For inventory and plant
expansion. Office—44 Passaic Ave., Kearny, N. J. Un¬
derwriter—Amber, Burstein & Co., Inc., N. Y.
chain link fencing.
products. Proceeds—For working capital, and
other corporate purposes. Office—20th Street^ and Alle¬
-
Alumatron
Nov.
International, Inc.
13,1961 filed 73,000 common.
V
*
Price—$7. Business
,
-
SOLD
-
QUOTED
M SIEGEL
• Aluma-Rail, Inc.
(1/29-2/2)
Sept. 28, 1961 ("Reg. A") 100,000 common. Price—$2.25.
Business—Manufacture of new color anodized aluminum
of
J BOUGHT
for Banks, Brokers, Institutions
writer—Albion Securities Co.. Inc.. N. Y.
alu-
gheny Avenue, Philadelphia, Pa. Underwriter—Francis I.
du Pont & Co., N. Y. Note—This offering has bteen temporarily postponed,
•
-
27,
amendment.
electronic parts
minum
4
missile
Almo Industrial Electronics Inc.
common
sale
and
working capital.
Cleveland.
N. J.
other
aircraft
dustrial
;■
(2/26-3/2)
Price — By amend¬
Mfg. Corp.
gaged in the production of aluminum alloys. Proceeds
selling stockholders. Office—4365 Bradley Road,
Underwriter—Joseph, Mellen & Miller, Inc.,
stock, of which 50,000 shares are to be offered for public
sale by the company and 150,000 outstanding shares by
the present holders thereof. Price—To be supplied by
aluminum
Screw
Cleveland.
.
class A
&
—For
Master Corp.
1961
/vi-/;
Manning, Ltd., Toronto.
Bolt
insurance brokers. Proceeds—For the retirement of de¬
Co., N. Y.
Alloys & Chemicals Corp. P'
ment.
&
Air
A.
American
ment.
Nov.
May 26,
&
Dec. 27,
inventory and working capital. Office—350
Ave., N. Y. Underwriter—Richard Bruce & Co.,
Inc., N. Y.
;
.;
./ ; ■:
•«
.
;•
„
writer—E.
Proceeds—Expansion, prod¬
Office—1015 Jef¬
ferson Ave., Brooklyn, N. Y.
Underwriter—S. Apfelbaum & Co., 39 Broadway, N. Y. Offering—Imminent.
Fifth
!
Price—By
uct development and
Proceeds—Debt payment, new products,
..
amendment. Business—A
Proceeds—For in¬
Office—7720 Wisconsin Ave., Bethesda,, Md.
basis.
discount department store.
expansion,
'
development and mining. Proceeds—For diamond drill¬
ing, construction, exploration and general corporate ex¬
penses.
Office—80 Richmond St., W., Toronto. Under¬
N.
if Ainsbrooke Corp.
8, 1962 filed 200,000 capital shares, of which 100,000
are to
be offered by the company and 100,000 by the
stockholders.
Price—$10.
Business—Manufacture
of
men's and boys' underwear and pajamas. Proceeds—For
-
*
l-for-10
(1/29-2/2)
filed 400,000
1961
31,
2, 1961 ("Reg. A") 60,000 common. Price — $3.
Business—Design and manufacture of board games, toys
and Christmas stockings. The company also operates a
Jan.
»
(1/29-2/2)
Nov.
'<■
*
Island City, N. Y.
f?-: Allison Industries, Inc.
moulds, machinery and equip¬
writer—International Services Corp., Paterson,
» iv
Capital Corp.
vestment.
sales pro¬
advertising, new office and warehouse and
working capital. Office—522 W. 29th St., N. Y. Under¬
* /
i
31-04 Northern Blvd., Long
Underwriter—Allen
motion and
♦ *>
—
small business investment company.
Agency Tile Industries, Inc. (1/29-2/2)
Sept. 6, 1961 ("Reg. A") 120,000 common. Price—$2.50.
Business—Importing, marketing and distributing ceramic
n
(2/5-9)
Oct. 20, 1961 filed 213,427 common, of which 200,000 will
be offered to the public and 13,427 to stockholders on
ment, research and general corporate purposes. Office—
250 Goffle Road, Hawthorne, N. J. Underwriters—Cam¬
bridge Securities, Inc. and Edward Lewis Co., Inc., N. Y.
u*
Rental Corp.
Underwriter—None.
—
\y
>T;
All-State Auto
Allied
t*
K»
St., Wilmington, Del. Underwriters—Alessandrini
Co., Inc. and Hardy & Hardy, New York (managing).
Sept. 28, 1961 filed 50,000 common. Price—$4. BusinessLeases motor vehicles.. Proceeds—For working capital.
Nov. 30, 1961 ("Reg. A") 55,000^common. Price — $4.
Business—Design, manufacture and installation of elec¬
tronic cable systems and hardware. Proceeds—For debt
repayment, equipment and working capital. Office—
12806 Bradley Ave., Sylmar, Calif. Underwriter—B. B.
George Securities, Ltd., N. Y.
It
»?'
H
establish and
Tenth
f
Ltd.
common snares. Price—50
cents. Business—The company is engaged in exploration,
shares.
$5. Business—
operate; bowling centers in Europe. Proceeds—For ex¬
pansion and general corporate purposes. Office—100 W.
Acrylic Optics Corp.
Advance Cable Systems Corp.
I;.
h
subordi¬
nated debentures due 1971 and 150,000 common
-
t
(1/15)
Price—For debentures, at par; for stock,
Joint venture with Brunswick Corp. to
(1/29-2/2) '1
("Reg. A") $240,000 of 15-year 6% convertible
subordinated
debentures ~ (convertible
into
common
at
$1.50
per
share); and
40,000
common
shares. Price—For debentures at par; for stock, $1.25.
^Business—Research, design and manufacture of contact
fr lenses and accessories. Proceeds—For expansion. Office
—1928 Firth National Bank, Detroit. Underwriter—A. D.
Gilhard & Co., Inc., N. Y.
#
Wide, Inc.
Shurs Lane, Philadel¬
phia. Underwriter—Roth & Co., Inc., Philadelphia, r
•
i
Star World
All
July 7, 1961 filed $250,000 of 5% convertible
Nov.
awnings
alumiicmmqconabination^fitorm-screetf-»Wihdows and
doors.
Proceeds—For an acquisition, debt •< repayment
and general corporate purposes. Office—5007 Lytle St.,
Pittsburgh, Pa. Underwriter—First Madison Corp., N. Y.
and
corporate, purposes.. Office—369
h
;■
Price-^$4.25^t Busi¬
1961 filed 100,000 common.;
ness—Manufacture of aluminum and fiberglass
inventory, research and development, advertising, promo¬
tion and merchandising, repayment of debt and other
b
-■
Proceeds—For construction of
new
Dec. 21,
(1/29-2/2)
July 17, 1961 filed 100,000 class A common shares.
v
Amerel Mining Co.
July
shares
Allegheny Aluminum Industries, Inc.
working
—By amendment. Business—Manufacture of transform¬
ers for electronic and
electrical equipment. Proceeds—
P
*
plant. Office—4800 Baltimore Ave., Hyattsville,
Md. Underwriter—Whitehall Securities Corp., Pittsburgh.
a
Office—40-40 Lawrence St., Flushing, N. Y. Un¬
derwriter—Karen Securities Corp., N. Y.
For
Inc., N. Y. C.
(2/5-9)
Corp.
ety of building products.
(1/29-2/2)
promotion,
sales
expansion,
Al-Crete
Sept. 20, 1961 filed 127,00(1 class A common. Price—$3.
Business—Development and manufacture of a new vari¬
capital.
r
Anchorage, Alaska.
—
Acefo
:
repayment of loans, work¬
and moving ex¬
Office—14-20 Dunham PL, Brooklyn, N. Y. Un¬
•
Malloy, Inc., St. Petersburg.
Alyeska Ski Corp.
'Y' 7 Oct. 12, 1961 ("Reg. A") 240,000 common. Price—$1.25.
Business
Operation Of ski facilities. Proceeds — For
general corporate purposes. Address—P, O. Box 1882,
Anchorage, Alaska. Underwriter—Paul Nichols Co., Inc.,
—75
(1/22-26U
Voigt Industries, Inc.
ing capital, a leasehold improvement
8, 1961 ("Reg. A") 60,000 common. Price—$5. Busi¬
Research, design and manufacture of precision
and B. C.
publishers.
related items. Proceeds—For
Inc.
Sept. 27, 1961 filed 88,000 common. Price—$5. Business
—Purchase and sale of chemicals and by-products. Pro¬
'A'
Underwriter—Dempsey-Tegeler &
Aug. 29, 1961 filed 80,000 common. Price—$4. Business—
The manufacture of metal store fixtures, show cases and
potentiometers. Proceeds—For general corporate pur¬
poses. Office—223 Crescent St., Waltham, Mass. Under¬
writer—Mann & Creesy, Salem, Mass.
f
jl W.
Albert
corporate purposes. Office—St. Petersburg,
H. Tegtmeyer & Co., Chicago
Underwriters—Wm.
Fla.
poses.
Co., Inc., St. Louis.
Office—1368-72 Utiea Ave., Brooklyn. Under¬
writer—Havener Securities Corp., and D. A. Bruce &
Co., Inc., N. Y.
Proceeds—
in the general contracting business.
engage
For general
.
Bldg., Portland, Ore.
capital.
•
11608
1961 filed 250,000 common. Price—By amend¬
lumber company.
Proceeds—For
construction and working capital.: Off ice—614 Equitable
Business—A
ment.
ing polyethylene and cellophane bags and sheets. Pro¬
ceeds — For a new plant and equipment and working
ness
—
Nov. 17,
Cellophane Corp. (2/5-9)
Sept. 7, 1961 ("Reg. A") 75,000 common.
Price — $4.
Business—A converter of packaging material, produc¬
Dec.
Office
(1/29-2/2)
Alaska Pacific Lumber Co.
ABC
Accuracy
For working capital.
Securities
Coast
N. y. Offering—In early March.
ler & Co.,
—
Blvd., Studio City, Calif. Underwriter—Pacific
Co., San Francisco; Calif.
Ventura
ISSUE
—
:i
July 29, 1961 filed 199,000 common, of which 110,000 are
to be offered by the company and 89,000 by stockhold¬
ers.
Price—By amendment. Business—Manufacture of
;
REVISED
Mass.. '■%
.
Aartronics
-
companies,
other
and
own
capital.
Office—640 Memorial Dr., Cambridge,
Underwriter—Schirmer, Atherton & Co., Boston.
.f
ITEMS
•
PREVIOUS
—Company plans to coftstruct special type homes, and
(1/16-17)
("Reg. A") 60,000 common. Price—$5.
Business—Electronic research, development and manu¬
facture under U« S. Govt, contract.
Proceeds—For inNov.
SINCE
A
o., <lsnc.
39
-
Broadway, New York 6, N. Y.
v;
-1
Direct Wire
Dlgby 4-2370
to
•
established 1942;
Teletype No.: N.Y, 1-5237
Holton, Henderson & Co., Los Angeles
Volume
•
Number
195
American Financial Corp.
6124
.
.
The Commercial and Financial Chronicle
.
13, lael filed 150,00U common, of which 50,000 are
be offered by the company and 100,000 by stockhold¬
Business—-The operation of
Priee—By amendment.
ers.
three
•
savings and loan associations, an equipment, auto¬
general contract¬
Proceeds—For leasing program, to in¬
holdings in a subsidiary and for working capital.
Office—3955
Hammill
writers—Shearson,
heimer &
Rd., Norwood, Ohio.
Montgomery
American
N.
Co.,
&
Co., Cincinnati.
Management
&
Under¬
and West-
Y.
*
r
.
-
investment Corp.
v
f
Dec, 20, 1961 filed 500,000 7% non-cumulative convert¬
ible preferred, Price—$10. Business—A management in¬
vestment company which plans to acquire firms in the
are
stockholder.
Aug. / 2,
Price
—
Devices,
(2/5-9)
Inc.
>;./*/>>//>
to
Proceeds—The purchase of equipment and
materials, operational expenses, working capital and rewriter-—Naftalin & Co., Inc., Minneapolis.1
Modular Manufacturing Corp.
American
Pioneer
Life
Insurance
Astro-Science
insurance
in
Co.
Florida. Proceeds
—
St., N.
15, 1961 filed 60,000 common. Price—By amend¬
Business—Development and manufacture of chem¬
electrical and mechanical instruments, precision
products and special purpose tools. Proceeds—For sell¬
ing stockholders. Office—200 N. Braddock Ave., Pitts¬
burgh. Underwriter—Arthurs, Lestrange & Co., Pitts¬
burgh.
'
./
ical,
r
4
(1/22-26)
Corp.
..
Office—9449
capital.
expansion and legal reserves. Office—307 S. Orange Ave.,
Orlando, Fla. Underwriters—Goodbody & Co., N. Y. and
A. C. Allyn & Co.,; Chicago. /
>>> ,
;
>
Calif.
W. Jefferson
Underwriter—W.
/■>, Atlantic Capital
C. Langley
Oct.
Corp.
Underwriter—J. R. Holt & Co., Denver.
City,
Blvd., Culver
& Co., N. Y.
Bank
Realty & Petroleum Corp.
"Adanim"
■
.
amendment.
Business
Anaconda
Real
Estate
,
„►
*
.
Investment Trust
.
Atlas Electronics
\ r
/
\v
•
Barish
Sept.
®
Blvd., Fort Lauderdale, Fla. Underwriter—None.
Anchor
Alloys, Inc.
Oct.
27, 1961 ("Reg. A")
50,000 common.
Price—$6.
Business—Purifying, alloying, and fabricating metals as
components for the semi-conductor industry.
Proceeds
—For
general
corporate purposes.
Atlas
Y.
working
New York.
Anchor Industries
Proceeds—For
machinery research,; sales promo¬
'
'
A^/r-''a^^
Anoroc
Products, Inc. (1/15-19)'
611961v ("Reg.; A") 100,000 common. •Price^-$2(.
Business—Fabrication, : manufacture- and assembly of
glass. enclosures for bathtubs/ Proceeds—For debt re¬
payment and general corporate purposes. Office—181-14
Jamaica Ave., Jamaica, N. Y. Underwriters—G. Everett
Oct.
Parks
&
Barry
—■
Co., Inc.' and Parker Co., N.;,Y.v
//'>~V
ausco,
sure
Pricer—$2. BusinessDevelopment, sale!'and distribution "of specialty chemi¬
cals and detergents; Proceeds—For sales promotion, new
product development and; general corporate purposes.
Office—Industrial West, Allwood-Clifton, N. J. Under¬
writers—Glass & Ross, Inc. and Globus, Inc., N. Y.
plants.
/
Proceeds—For
general
corporate
aircraft
and
missile
valves.
Proceeds—For
engi¬
Industries, Inc. (2/13-16)r/';$>
filed 103,000 common. Price—$7. Business
—Manufacture of specifications of aircraft, guided mis¬
siles and electronic components, and fastening devices
Proceeds—For debt repayment and a new product. Of¬
fice—4873 W. Armitage Ave., Chicago;
UnderwriterRaymond Moore & Co., Los Angeles. .vv.;
••• /;•;
■
Austin Continental
pur¬
.
Arkwin' Industries, lnc.:- / >"• »■;
•/>/;•'/
■
•-•>:/
Nov.
28, 1961 filed 80,000 common, of which 25,000 are
by the company and 55,000 by a selling
stockholder. Price—$5. Business—Designs and manufac¬
tures precision hydraulic, pneumatic and fuel valves and
'control mechanisms for aircraft missiles, etc. Proceeds—
For equipment and sales-expansion. Office—648 Main
be offered
•to
St.,
Westbury,
N. / Y. Underwriters—Sterling,
Grace
Industries,
Sept.. 18, 1961
Dec.
nated
29,
and
&
W. 58th
be
offered
36,000
for
of
self-instructional
Proceeds—For
and
other
equipment,
corporate
Price—$10
materials
research
purposes.
and
Office—1
St., N. Y. Underwriter—Arthur J. Rosenwasser
convertible subordi¬
stock purchase
units of one $1,000
common
sale
in
Automatic
Controls, Inc.
Dec. 28, 1961' filed 50,000 common.
Price—$4. Business
—-Design, manufacture and installation of electrical,
pneumatic, hydraulic and mechanical systems, controls
By amendment.
.Business-—Manufacture of hydraulic system devices and J and devices to control and automatically operate indus¬
trial machinery and processes.. Proceeds—For general
-parts for the aircraft and missile- industries, etc; Pro-.
corporate purposes. Office—3601 Merrick Rd., Seaford,
.ceeds-^-For debt repayment'and the purchase of addi¬
N. Y. Underwriter—S. Schramm & Co., Inc., N. Y.
tional equipment. / Office -r- 32 Industrial Ave., Little
debenture
and
60
warrants./
Price •/—
.Ferry, N. J. Underwriter—Gianis & Co.,:Incf; N. Y.
y
Y Aronoff & Pichling, ;lnc>y>.v
*' "/
:Nov/ 27, T961 filed 54,000 common. Price—By amend¬
G.)
Corp.
(1/22-26)
debt,
Basic Inc.
v./-
Automatic Marker Photo Corp.
.
Dec. 1, 1961 filed 150.000 class A shares,
000 are to be offered by the company
of which 125,and 25,000 by
(1/29-2/2)-
"V—;
27, 1961 filed 70,000 cumulative convertible prefer¬
ence
shares (par $50). Price—By amendment. Business
—The production of basic granular and brick refractory
materials. Proceeds—For plant expansion. Office—845
Hanna
Bldg., Cleveland. Underwriter
Corp., N. Y,V:>/,/;.
tu
Bay State Electronics Corp.
—
First
Boston
.•/'.
.<■
(1/29-2/2)
Oct. 27, 1961 filed 160,000 common. Price—By amend¬
ment.
Business—Development of products and tech¬
niques for use in the fields of oceanography, meteor¬
ology, seismology and ionospheric phenomena. Proceeds
.—For product development and working capital. Office
—43 Leon St., Boston. Underwriter—S. D. Fuller & Co.,
:
New York.
Beacon Investing Corp.
Dec.
20, 1961 filed 300,000 shares of capital stock. Price
Business—A mutual fund. Proceeds
/—Net asset value.
—For investment.
Office—22 The Fenway, Boston.
derwriter—None.
BechtoJd
v
/,-/
.
Un¬
■.
Engineering Co.
Nov.
30, 1961 filed 135,000 common, of which 95,000 ar'e
offered by the company and 40,000 by a selling
stockholder. Price—By amendment. Business—Manufac¬
ture of specially designed thermosetting plastic fabri¬
cating machinery. Proceeds—For debt repayment and
other corporate purposes. Office—631 N. E. 45th St., Fort
Lauderdale, Fla. Underwriter—Roman & Johnson, Fort
Lauderdale, Fla.
to
be
Bell Electronic Corp.
Dec.
Co., 95 Broad St.. N. Y.
1961 filed $600,000 of 6%
to
devices.
development
Inc.
debentures / and
' "*/ ■.:•'//
("Reg. A") 30,000 common.
Business—Manufacture
•
warrants
/•'■.;.•/
Automated Teaching Systems, Inc.
indefinitely postponed.
Arnav
(Commonwealth of) (1/24) -■
Jan. 4,1962 filed $30,000,000 of bonds due Jan. 15, 1982.
Price—By amendment. Proceeds—To refund outstand¬
ing 3%% bonds due Feb. 1, 1962. Underwriter—Morgan
^ Australia
Stanley & Co., N. Y.
Co. and D. H. Blair & Co., N. Y. Note—This registration
was
(R.
Dec.
Nov. 14, 1961
Co.
poses^ Office—1091 N. Central Ave., Phoenix/ Under¬
writer—Globus, Inc., N.:-Yl Offering/~In late February.
;>
Petroleum Corp.
purposes.
inc.
neering, product development, inventories, advertising,
expansion and working capital. Office—17 W. 60th St.,
N. Y. Underwriter—Pearson, Murphy & Co., Inc., N. Y.
'Nov;114, 1961 iiled 200,000 common. • Price—$4. Busi¬
ness—Company plans to construct and operate refuse
disposal
St.,
;>
increase inventory and for other corporate
Office—78 E. Chestnut St., Columbus, Ohio.
Underwriter—Arnold Malkan & Co., N. Y.
pay
.(1/29-2/2) •
t Oct. 12, 1961 filed 110,000 common. Price-$3. Business
;
—Design, development, and manufacture of high pres¬
/
Jan. 5, 1962 filed 95,000 common.
Arizona Biochemical
38th
—Manufacture of slippers, robes, cushions, pillows, autoseat covers, and other specialty items. Proceeds—To re¬
-
^ Anscoit Chemical Industries, Inc.
<
E.
Co., N. Y.
Sept. 21, 1961 filed 100,000 common. Price—$5. Business
—»
it Audio Products Associates, Inc.
/'/
Dec. 29, 1961 filed 135,000 class A shares. Price
$4.,
Business—Creation, testing, and refinement of facilities
for the production of low-cost polyvinyl chloride flex¬
ible -plastic phonograph* records. Proceeds—For' equip¬
ment and working capital. Office—11 E. 74th St., N. Y.
Underwriter 5— International" Services Corp., Paterson,
N. J. v\V;
;/>Y " :-u V, Y Y.Y/-•>,>(: u~r-
tion, and working capital. Office—26 Essex St., Hackensack,fN. ;J. Underwriter—Amber, Burstein & Co., Inc.,
New York.
Office—224
&
—
Corp.
Nov. 24, 1961 filed 38,500 common. Price—$8. Business
^-Design and fabrication of precision sheet metal prod¬
ucts.
YY (/■/.:
Atmospheric Controls, Inc. (1/29-2/2)
Aug, 22, 1961 ("Reg. A") 40,000 common. Price—$3.50
Proceeds
For repayment of loans, acquisition and
working capital. Office—715 N. Fayette St., Alexandria,
Va* Underwriter—First Investment Planning Co., Wash¬
ington, D, C. Y>:/Y/vY//>//^YYYY Y: :Y.>
Offering—Expected sometime in March.
'
23, 1961 ("Reg. A") 200,000 class B common and
100,000 class A common to be offered in units Consisting
of one class A and two class B shares. Price^$3, per
unit. Business—Production, refining and marketing of
oil and gas. Proceeds—For debt repayment and other
corporate purposes. Office—8 E. Charleston Blvd., Las
Vegas, Nev. Underwriter—John A. Oja & Associates,
Las Vegas, Nev.
'//■■,/
•
''';
$10,;
For
working capital. Office—500 Hotel Circle, San Diego.
Underwriter—J. A. Hogle & Co., Salt Lake City.
Office—968 Meeker
capital.
Underwriter—Gianis
Barren River
common.
Nov. 28, 1961 ("Reg. A") 30,000 common.'Price
Business — Operation of motor hotels. Proceeds
Ave., Brooklyn, N. Y. Underwriters—Charles Plohn &
Co., B. W. Pizzini & Co., Inc. and Atlas Securities Corp.,
;/ ■'
Oct.
of electronic acoanponents} i
Hotels,' Inc. /*/
company.
Associates, Inc.
1961 ("Reg. A") 50,000
ceeds—For
N.
Price—$2.10. Busiparts and
equipment. Proceeds—To repay debt, purchase inven¬
tory, and increase working capital. Office—774 Pfeiffei
Blvd., Perth Amboy, N. J. Underwriters—Hay, Fales &
Co. and McLaughlin, Kaufman & Co., N. Y,
ness—Distribution
3, 1961 filed 163,636 shares of beneficial interests.
Price—$10. Business—Real estate investing. Proceeds—
For purchase of real estate in Florida. Office—1776 E.
mortgage lending
1,
common.
Price—$4.
Business—Aeronautical research and development. Pro¬
(1/15-19)
Sept. 28,U96L filed 185,000
Oct.
Sunrise
Inc.
A
American Israel Investment Co., Inc.
.
Underwriter—None.
—
Proceeds—For general corporate purposes. Address—108
Achad Haam St., Tel-Aviv, Israel. Underwriter—Adanim
—
Mass.
//'•>>
Mortgages & Loan Ltd.
Dec. 29, 1961 filed $556,000 of 6% cumulative preference
dividend participating dollar-linked shares. Price—By
Aug. 29, 1961 filed 500,000 common. Price—$12.50. Busi¬
(1/29-2 2)
ness—A small business investment company. Proceeds—
Sept. 28, 1961 filed $2,000,000 of 6V2% conv. subord. de¬
For general corporate purposes. Office—744 Broad St.,
bentures due 1971. Price—At par. Business—Real estate
and also the oil and gas business. Proceeds—For repay¬ / Newark, N. J. Underwriter—Paine, Webber, Jackson &
Curtis, N. Y. C. Offering—Expected sometime in Feb.
ment of debt, sales and advertising, property improve¬
ments and possible acquisitions. Office—16 W. 61st St., Y> Atlanta Motor Lodges, Inc. >•', >>
■>> ,_///
N. Y. Underwriter—Troster, Singer & Co., N. Y.
Oct, 30, 1961 filed 150,000 common. Price—$10; Business
'•/ American Sports Plan, Inc.
—Operation of motels. Proceeds — For expansion and
working capital. Office—120 North Ave., N. W., Atlanta,
June 29, 1961 filed 200,000 common shares.1 Price—$6.
Ga. Underwriter
The Robinson-Humphrey Co., Inc.,
Business—The operation of bowling centers. Proceeds
Atlanta, Ga.... ;
—For expansion.
._/ YYY.•> ;>>YY>Y;Y/:>
Office—473 Winter Street, Waltham,
American
.
Harbour
Bal
Diagnostic Service, Inc.
18, 1961 filed 2,000,000 common. Price—$1. Busi¬
ness—Company will operate a medical examination
center. Proceeds—For a hotel acquisition and working
capital. Office—10101 Collins Ave., Bal Harbour, Fla.
■
be offered by
support and servicing of electronic systems, aircraft and
missiles/ Proceeds—Repay debt and increase working
For
r/•'
>(2/26-3/2)
ment.
Underwriter-
Y.
Co., San Francisco/ Offering-
Nov.
1961 filed 232,500 common, of which 150,000
the company and 82,500 by stock¬
holders.
Price—By amendment. Business—Design and
manufacture of ground systems and equipment for the
to
are
20, 1961 filed 400,000 common. Price—$5.50. Busi¬
ness—Writes life
44th
Securities
Bacharach Industrial Instrument Co. /
?'/
Sept. 27,
.
American
W.
Coast
Expected in late February.
120,000 by the stock¬
Business—Manufacture
Bear, Stearns & Co., N. Y.
common.
Business—Manufacture
Babs, Inc.
Pacific
'
Proceeds—For plant improve¬
castings.
Office—321
ment.
/
Price—$2.50. Busi¬
ness—Manufacture of a type of component constructed
home.
Proceeds—For debt repayment, equipment, and
working capital. Office—4950 71st Ave., North, Pinellas
Park, Fla. Underwriter—Equity Securities Co;, N. Y.
Dec.
Price—By amendment.
of custom made
Price—By amendment.
Proceeds—For debt repayment and working capital. Of¬
fice—32550 Pulaski Dr., Hayward, Calif. Underwriter-
be offered by the company and
holders.
Underwriter—None.
Nov. 27, 1961 filed 150,000 common. Price^-$4. Business
—Sale of dairy products, through "Dairy Drive-ins."
Nov. 21, 1961 filed 230,000 common, of which 110,000 are
components.
Nov. 27, 1961 filed 200,000
'•'V
•
1961-filed 1,500,000 class A common shares.
$1.15. Business—The manufacture of electronic
St., N. Y.
underwear, ties and accessories. Proceeds—For
debt repayment, expansion and working
capital. Office
—404 Fifth Ave.,
N. Y. Underwriter—Drexel & Co.,
Philadelphia. Offering—Expected in February. \
Price—By
.
Micro
W. 36th
Co., Inc.
of men's
filed
;; For general corporate purposes. Office—321 Park Ave.,
Baltimore.
Underwriter—Federman, Stonehill - & Co.,
N,-' Y.
*•
U /Y'Y".' '
YJ
-
American
holders.
150,000 common, of which 100,000
to be offered by the company and 50,000 by a sell¬
20,
B. V. D.
Dec. 28, 1961 filed 600,000
common, of which 400,000 are
to be offered by the company and 200,000
by stock¬
Materials Corp. Y
& Crafts
1961
•
amendment. Business—Im¬
porting and sale of arts and crafts materials. Proceeds—
ing
porate purposes.
Office r— Warner Bldg., Washington,
D. C. Underwriter—None.1
/<" i-;. » \ V
-
Arts
Dec.
insurance and finance fields. Proceeds—For general cor¬
•
Office—153
(1/29-2/2)
Mills, Inc.
Price—By amendment. Business—Sale and
a photocopy machine and
supplies. Pro¬
equipment, expansion, and working capital.
ceeds—For
Price
—$5.
Business—The purchase, conversion, decoration,
gift packaging and distribution of terrycloth towels and
cotton pillow cases. Proceeds—For inventory, repayment
of loans and working capital.
Office—1030 Pearl St.,
Long Branch, N. J.
Underwriter—Mortimer B. Burnside & Co., Inc., N. Y.
business.
crease
ArtSin
31
distribution of
bept. 28, 1961 tiled 135,uuo class A common shares.
mobile and truck leasing system and a
ing
stockholders.
manufacture of women's
junior sizes..Proceeds—For selling stockholders. Office
—1400 B'way, N. Y. Underwriter—Carreau & Co., N. Y.
Nov.
to
Business —/Design and
ment.
(1/22-26)
(195)
20, 1961 filed $1,250,000 of convertible subordinated
debentures due
1977; also 75,000 common shares. Price—
At par.
For stock: By amendment.
Business—A distributor of electronic parts and equip¬
/ For
ment
debentures:
manufactured
payment
Aldondra
and
other
Blvd.,
by others. Proceeds—For debt re¬
corporate purposes. Office—306 E.
Gardenia,
Calif.
Underwriters—Mit-
chum, Jones & Templeton, Los Angeles and Walston &
Co., N. Y.
•>
Benjamin
Nov.
15,
(W. A.), Inc.
1961 filed 50,000 common. Price—By
amend¬
ment. Business—Publication of scientific texts and refer¬
ence
2465
•
books> Proceeds—For
working
capital.
Office—
Broadway, N. Y. Underwriter—None.
Berne
of California, Inc.
(2/13-16)
27, 1961 ("Reg, A") 85,000 common.
Price—$3.
/Business — Manufacture of handbags and related items.
Oct
*
Continued
on
page
32
The Commercial and Financial Chronicle
(196)
32
stockholders.
31
Continued from page
Of¬
Underwriter
Securities Co., San Francisco.
Proceeds—For debt repayment
Coast
—Pacific
(Otto)
Bernz
Office
sion.
amendment. Business—Manu¬
propane-filleci steel cylinders, garden
Office—5440
hold¬
San
12G01
•
Vincente
Nov. 29, 1961 filed 225,000 common, of which 200,000 are
to be offered by the company, and 25,000 by the stock¬
1961
• Capital
Proceeds—For debt re¬
and general corporate purposes.
Office—740
Driving Park Ave., Rochester, N. Y. Underwriter—Rey¬
nolds & Co., Inc., N. Y. V
ceeds—For general corporate purposes. Office—201
rel St., Beverly, N. J. Underwriters—Roth & Co.,
ness—An
(2/13-16)
("Reg. A") 40,000 common. Price—$7.50.
Business—Manufagfiffe, sale and distribution of doors.
Proceeds—For working/ capital and general corporate
Nov.
small
of
facture
sprinklers and hose accessories.
payment
•
Barry Boer Corp.
Dec.
18, 1961
purposes.
Mich.
Office—2400 E. Lincoln Rd./Birmingham,
Underwriter—Raymond Moore
&
Co., Los
Angeles.
Besco Enterprises,
Oct.
Inc.
capital shares.
150,000
Price—By
Business—A holding company whose sub¬
amendment.
and photography departments
discount department stores.
Proceeds—For debt re¬
sidiaries
in
filed
1961
27,
operate jewelry
payment and expansion.
Office—1328 Washington St.,
Oakland, Calif.
Underwriters—Kleiner, Bell & Co.,
Beverly Hills, Calif, and Rittmaster, Voisin & Co., N. Yi
Best Plastics
Sept.
26,
(1/22-26)
125,000
common,
and
party
of which
100,000
favors. Proceeds—New plant and equipment
working
capital.
N. Y. Underwriter—S
Office—945 ;39th St.; Brooklyn,
Co., N. Y.
B. Cantor &
Bjg Drum, Inc.
Dec. 29,
1961
filed
Pricer—By amend¬
packaging materials and
equipment to producers of frozen confections. Proceeds
—For debt repayment and working capital. Office—1183
Business
ment.
Essex
ben &
—
100,000
common.
Furnishes
Ave., Columbus^ O,/Underwriters—Merrill, /Tdr-:
Co., Inc., Cleveland and The Ohio Co., Columbus.
^ Bilnor Corp.
Jam 8, 1962 filed 100,000 class A capital shares. PriceBy amendment ($11 max.); Business—Manufacture of
wading pools. Proceeds-r-For /the sell in g stockholders;
Office—300 Morgan Ave., Brooklyn, N. Y. Underwriter
vrnei
—A. C. Ailyn & Co., N. Y.
•
no?'?
Dec. 5,
19 J1
(
Rtg. A
Lau¬
Inc.,
fice—44
iTfirm
5,600
•
filed 368,700 common, of which 150,000
by the company and 218,700 by the
Price—By amendment. Business—Devel¬
)
repayment and general corporate pur¬
Office—11933 Vose St., North Hollywood, Calif.
poses.
Underwriter—Pacific
cisco.
•
Coast
Securities
Co.,
Fran¬
San
vf
Bo'ar
Pharmaceutical Co.,
Inc. (1/22-26)
("Reg. A") 50,000 class A common. Price—
$2.
Business—Compounds, manufactures and packages
private label drugs and vitamins. Proceeds—For an ac¬
quisition
and equipment.
Office—54 McKibben St.,
Brooklyn, N. Y. Underwriter—Natale, Miller & Co., Inc.,
New York:
* •
;
1
~
> ,, '1 •
r
Boston
Pneumatics, Inc.
(1/22-26)
13, 1961 ("Reg. A") 93,500 class A shares of which
85,000 will be sold for the company and 8,500 for the
underwriter.
Price—$2.
Business—Fabrication,
assem¬
bly and sale of tools powered by compressed air.
Pro¬
ceeds—For debt repayment and
—365 Arlington
T.
M.
working capital. Office
Ave., Brooklyn 8, N. Y. Underwriter—
Co., Inc., N. Y.
Kirsch
Bowey's, Inc.
Oct.
to
30,
be
1961
filed
offered
holder.
bv
(1/29-2/2)
Price—By amendment. Business—Manufactures,
and supplies
powders, syrups, flavorings, etc.,
industry. Proceeds—For repayment of debt and
processes
to
food
working capital. Office—679 N. Orleans St., Chicago, 111.
Underwriter
Cruttenden, Podesta & Co., Chicago.
—
Bowling: Internazionafe,
June 30, 1961 filed
200,000
Ltd.
common
Proceeds—For the construction
or
.
ptk
T"7?
.1
u
Financial
Corp.
Brentwood
Dec.
Price
acquisition of
a
$5.
chain
»
*nc-* N. Y.
(2/13-16)
»
.
;
:
13, 1961 filed 150,000 common, of which 30,000
are-to be-offeredby the company and'120,000 by the
E.
Indian
School
Rd., Scottsdale, Ariz. Under¬
Inc., Scottsdale, Ariz.
Capitol Research Industries, Inc. (1/29-2/2)
28, 1961 filed 165,000 common shares and 75,000
stock purchase warrants. Price—For stock, $2;
warrants, 20 cents. Business—The manufacture of
X-ray film processing machines. Proceeds—For repay¬
ment of loans and working capital
Office—4206 Wheeler
for
;
Card Key Systems, Inc. . •-» /.V ■
•
*'■ V
July 28, 1961 ("Reg. A") 60,000 common shares (no par).
Price
$5. Proceeds — For research and development,
Office—309 Main
advertising equipment and working capital.
.
S:
Securities Co. Inc., N. Y.
Burnham & Morrill Co.
Underwriter—None.
San
Office—923
Fernando
—
(1/22-26)
1961 filed 187,250 common. Price—By amend¬
ment. Business — Manufacture of canned foods, frozen
Proceeds—For
beans.
Va.
Boulevard, Burbank, Calif. Under¬
writer
Rutner, Jackson & Gray, Inc., Los Angeles.
Offering—Expected in early February.
-
Oct.. 25,
baked
Alexandria,
—
St., Islip, N. Y. Underwriter—Albion
Caribbean
■
Cement Co.,
Ltd.
j
Oct. 18, 1961 filed 272,000 American depositary.
each sharerepresenting .ohe- ordinary
selling stock¬
St., Portland, Me. Underwrit-,
errr-Hornblower & Weeks, N. ,Y.
g ■;
Shares,
amendment: Business—Mariuf^cture:of Cement! Proceeds.
Burros Corp..
Oct. 30, 1961 filed 70,000 common, of which 40,000 are
to he offered by the company and 30.000 by stockhold¬
rf-For selling stockholders.' Office-—^-Kingston,^ Jamaica,,.
Underwriter—Paribas Corp.; N. Y.
;
v \
}. •?
-
Price—By. amendment. Business—-Designs, manufac¬
tures, imports; arid distributes artificial flowers. Proceeds
—For repayment of debt and general corporate purposes.
Office—111 W. 19th St., N. Y. Underwriter—Rodetsky,
Walker & Co., Inc., N. Y. Offering—In early March.
Oct.
Caribbean
Shoe Corp.
1961 filed 149,794
will be sold by the company
Price—$6! EBusiness—^Design,
ers.
tion of custom
purposes.
.
_
•
Aug. 21,
for
the
Radio
&
Electronics
Corp. (1/22-26);:Price—$5. Busi¬
Oct. 27, 1961 ("Reg. A")60,000 common.
Manufacture of specialized, raidosand phono¬
ness
graphs.
Proceeds—New products, equipment and work¬
ing capital. Office—66-02 Austin St., Forest Hills, N. Y.
Underwriter—General Securities Co., Inc., N. Y.
Ceco
Nov.
13,
Steel
Products
(1/22-26)
Corp.
1961 filed
18,000 common. Prtce^-By amend¬
Business—Manufacture of products for the con¬
ment.
struction
industry:
Office—5601
W.
Proceeds—For selling, stockholders.
26th
St., Chicago.
Underwriter—Horn-
blower &: Weeks, N, Y.
; •
Central Acceptance Corp. of Delaware
(2/5-9)
-
Nov. 29,
1961 filed 150,000 class A common. Price—$5.
Business—A
pansion.
sales
finance
Office—526
Proceeds—For
company.
North
ex¬
Ave.
East, Westfield, N. J.
Underwriter—Armstrong & Co., Inc!, N. Y.
Central American Mining
Inc.
& Oil, Inc.
Oct.
30, 1961 filed 494,250 common. Price—$5. Business
—Exploration for oil, gas and other minerals. Proceeds
—For general corporate purposes. Office—Edificio Banco
Atlantida, Tegucigalpa, D. C., Honduras. Underwriter—
None.
repayment
re¬
■
payment and working capital. Office—324 E. Bixby Rd.,
Underwriter—To
be
•;
;
«
.
v
,
§
,\'
'■
.
Century Brick Corp. of America (1/29-2/2)
/
Nov. 9, 1961 ("Reg. A") 75,000 common. Prices—$4. Busi¬
ness—Company has developed a process for producing
simulated brick facing for buildings. Proceeds—For gen¬
eral corporate purposes. Office—4506 W. 12th St., Erie,
Pa. Underwriter—Sandkuhl & Co., Inc., N. Y.
-
and
Cambridge Fund of California, Inc. (1/29-2/2)
Sept. 28, 1961 filed 280,000 common. Price—By amend¬
•
,
1961 filed 350,000 capital shares; Price
$7.
of plastics, marble and ceramics
Cavalier
-
working capital.
Office—10
S.
La
Salle
St., Chicago.
Underwriter—
Cruttenden, Podesta & Co., Chicago.
Calif.
N. C. Underwriter—R.
packaging and building industries. Proceeds—
expansion, leasehold improvements, repayment of
loans and other corporate purposes.
Office—250. Vree*land Ave., Paterson, N. J. Underwriter^-FoundatiOa Sef
curities, Inc., N. Y.
units,
Beach,
Bldg., Charlotte,
Co., Charlotte.
For
each consisting of $1,000 of debentures
Price—$1,032.50 per unit. Business—Mar¬
keting of lubricating and fuel oils and asphalt products.
Long
Bank
Business—Production
and 65 shares.
debt
(2/13-16).
Casavan Industries, Inc.
,
Proceeds—For
CaroBDhas Capital Corp.
S. Dickson &
Jan. 8, 1962 filed $1,550,000 of 6%% s. f. subord. deben¬
tures due 1982 and 100,750 common shares to be of¬
in
'
general corporate purposes. Office—^1200. North Carolina
Publishing Corp. (1/22-26)
filed 137,500 capital shares. • Price—$5.
Business—Publishing of text books and general educa¬
tional works. Proceeds—For general corporate purposes.
Office—339 W. 51st St., N. Y. Underwriter—S. B. Can¬
tor Co., N. Y. T
^Calumet Industries,
Proceeds—Gen¬
Carmer Industries, Inc;4 (2/26-3/2)
National
Associates, Inc., N. Y.
1961
shoes for women.
Nov. 22, 1961 filed 500,000 common. Price—$10. Business
—A small business investment company. Proceeds—For
Caldwell
27,
corporate
shapes such as rods, tubes and sheets. Proceeds—For a
new
plant, repayment of debt, and -working capital.
Office—22 N. 26th St., Kenilworth, N. J. Underwriter—
Godfrey, Hamilton, Taylor & Co., Inc., N. Y..
• Bush-Terminal Co. (1/29-2/2)
/Nov. 7, 1961 filed 92,320 common to be offered to stockholders on a l-for-10 basis. Price—By amendment.
Business—Operation
of
warehouses,
manufacturing
Offering—Expected in late March,
146,687
Nov: 28/ 1961 filed 185,000 common, of which" 135,009
are to be offered by the Company and 50,000 by. a stock¬
holder. Business—Conversion- of raw plastics td " basic
Turnpike, New Hyde Park, N. Y; UnderwriterReiner, Linburn & Co., N. Y.
Underwriter—J. B. Coburn
of which
and 3,127 by a stockholder^
manufacture rand distribu¬
Miami.
Jericho
N. Y.
made
(1/22-26) *.!
common,
Office — 253 S. W. 8th St.,
Miami, Fla. Underwriter—Robert L. Fernian & Co., Inc.,
—Importation and distribution of copying machines and
supplies. Proceeds—Repayment of debt; inventory, sales;
promotion and / other corporate purposes. Office—2147
.
i8,
eral
Burton Mount Corp. (2/5-9)
Sept. 22, 1961 filed 100,000 common. Price—$6. Business
Certified Industries,
Sept. 28,
named.
nated
Cameo-Parkway Records, Inc.
Inc.-(^1722-26)
convertible subordi¬
1961 filed $750,000 of 6%
debentures
due
1976
with
attached
warrants
to
Dec. 29, 1961 filed 200,000 class A common, of which 40,000 are to be offered by company and
160,000 by a stock¬
purchase 15,000 class A shares to be offered in units (of
one $250 debenture and a warrant to purchase 5 shares)
for subscription by holders of class A and class B shares
holder. Price—By amendment. Business—Recording and
at the rate of
distributing of phonograph records. Proceeds—For gen¬
eral corporate purposes. Office—1405 Locust St., Phila¬
delphia. Underwriter—Godfrey, Hamilton, Taylor & Co.,
Inc., N. Y. Offering—Expected 'sometime in March
$250
to be offered by the
company
the plastic business
' Proceeds—For " debt
as
a
74,250 by
-
and
a
stock-
is engaged in
materials,
v
working capital:
of
raw
one
unit for each 50
shares held. Price—
unit; Business—Production of concrete for
con¬
Underwriter—Singer, Bean & Mackie, Inc.v N.~ Y.
Chemical-.Coatings Corp.
-
-
;
'
27,>1961 filed 75,000 common. Price—$5 BusinessManufacture of paints particularly • for use in tropical
and •; semi-tropical
climates.; < Proceeds—for equipment
and working capital;; Address—Santurce, Puerto Rico.
Underwriter—To be"'*nfrfti§clCK
Dec.
of which 500,000 are
and
converter
repayment
N. Y.
;
holder. Price—$2.50.: Business—Company
per
struction purposes. Proceeds—For expansion, equipment
and working capital. Office—344 Duffy Ave., Hicksville,
v
^°L.expa"si9p J- Campbell -Lurie Plastics, Inc.
Wall .St., New York. , Gct 27, 1961 filed 574,250 common,
and^
rndewritpr
shares.
mort¬
common
distribution
and
ment. Business—General real estate. Proceeds—Debt
80,000 common, of which 40,000 are
company and 40,000 by a stock¬
the
hold
Building Ventures, Inc. (1/29-2/2)
27; 1961 ("Reg. A") 100,000 common. Price—$3.
Business—Real estate. Proceeds—For working capital.
importation
Oct.
fered
Nov.
will
Ave.,
Oct
Oct. 18, 1961
which
company
of sporting fire¬
arms. Proceeds—For construction
and general corporate
purposes. Office — First Security Bank Bldg., Ogden,
Utah. Underwriter—Harriman Ripley & Co., Inc., N. Y.,
opment,
of
debt
investment
June
common.
P ice
$8.875.^-buildings, piers and railroad facilities. Proceeds—For
napthols, pigments, tints and
WM.vi
* '
RmnHvn
m
v
working capital. Office—48 43rd St., Brooklyn, N. Y.
intermediates. Proceeds
-For selling stockholders. AdUnderwriter—None. dress—Spartanburg, S.
Underwriter—Dargan / & Co.,
Business Growth Funding Corp.
Spartanburg, S. C.
Sept. 20, 1961 filed 100,000 common. Price—$4. Business
Btoch Brothers Tobacco Co.
—Making of loans to small business concerns, purchase
July 3, 1961 ("Reg. A") 4,000 common shares (par $12.50).
of machinery for lease, and the providing of manage¬
Price—By amendment. Proceeds—For the selling stock¬
ment counseling. Proceeds—For working capital. Office
holders.
Office—4000 Water St., Wheeling, W. Va. Un¬
—527 Lexington Ave., N. Y. Underwriter—Morton Klein
derwriter—Fulton, Reid & Co., Inc., Cleveland. Offering
& Co., Inc., N. Y.
—Expected sometime in February.
Cable Carriers, Inc. (1/22-26)
Block (H. R.), Inc.
(1/22-26)
March 23, 1961 filed 196,109 shares of capital stock. Price
Nov. 16, 1961 ("Reg. A") 75,000
common, of which 25,—$1.15. Business—The company which began operations
000 shares are to be offered by the
company and"50,000
in 1954, is engaged in the research and development off
shares by selling stockholders.
Price—$4.
Business—
special material handling systems for industrial and
Preparation of Federal and State income tax returns.
commercial use based on company-owned patents. Pro¬
Proceeds—For working capital.
Office—3937 Main St.,
ceeds—For
working capital. Office—Kirk Boulevard,
Kansas City, Mo. Underwriter—George K. Baum & Co.,
Greenville, S. C. Underwriter—Capital Securities Corp.,
Kansas City.
Greenville, S. C.
• Blue Haven Pools
(1/29-2/2)
Cadillac Conduit Corp.
Nov. 1, 1961 ("Reg. A") 75,000 capital
shares, of which
Nov. ,30, '1961
("Reg. A") 45,583 common.
Price—$6.
40,000 are to be offered by the company and 35,000 by
Business—Manufacturer of flexible steel tubing, cables
stockholders.- Price—$4. Business—Design, construction
and conduits to enclose electrical wires.
Proceeds—For
and installation of swimming pools and
equipment. Pro¬
working capital.
Office—19 Warren PI., Mt. Vernon,
ceeds—For
Business—Manufacture
Management Corp.
("Reg. A") 60,000 common. Price—$5. Busi¬
writer—Pacific Underwriters,
(1/29-2/2)
offered
stockholders.
ladies'
gages, land contracts, etc. Proceeds—For investment. Of¬
holders.. Office—45' Water
will be: sold by the company and 25,000 by stockholders.
Price—$3.
Business—Manufacture
of
plastic novelties
and
1961
be
dinners and
Corp.
filed
1961
27,
to
are
common.
Dec. 27 1961
Philadelphia and Amos Treat & Co., Inc., N. Y.
Browning Arms Co.
140,000
filed
Business—Manufactures
holders. Price—$4. Business—Design and manufacture of /
electronic equipment and communication systems. Pro¬
Price—By
stockholders.
(1/29-2/2)
Price—By amend¬
apparel. Proceeds
—For selling stockholders. Office—719 S. Los Angeles
St., Los Angeles, Calif. Underwriter—William R. Staats
& Co., Los Angeles.
11,
ment.
(2/26-3/2)
Inc.
Jacksonville, Fla. Under¬
Securities, Inc., Jacksonville.
Growth
Campus Casuals of California
Oct.
iyoz
Highway Ave.,
writer—Florida
Blvd., Los Angeles.
Underwriter—Hayden, Stone & Co., N. Y.
—
Bridge Electronics Co.,
are
Business—A
ing company for a savings and loan association. Proceeds
—For acquisition of two insurance agencies and expan¬
(1/16-19)
Co., Inc.
16, 1961 filed 150,QUO class A shares, of which 100,to be offered by
the company and 50,000 by
Oct.
000
and working capital.
St., Los Angeles.
San Pedro
S.
fice—1621
Price—By amendment.
rnursaay, January ii,
Volume
195
Number
•
6124
.
.
The Commercial and Financial Chronicle
.
'
(197)
*
33
'
I
•
Chestnut
Hill
.
L
.
1
,
•
'
ment. Business—Engaged in the consumer loan and/lichines. Proceeds—For working capital. Office—560 W.
nance buisness in Maryland. Proceeds—For general corLake St., Chicago. Underwriter—Straus, Blosser & Mcporate purposes. Office—307 N. Eutaw St., Baltimore.
Dowell, Chicago (mgr.).
i.
Underwriter—Stein Bros. & Boyce, Baltimore. "
/O •" '•* Columbus Plastic Products, Inc. (2/5-9)
Industries, Inc.
,
Nov.
29, 1961 filed 300,000 class A common, of which
225,000 are to be offered.by the company and 75,000 by ,
stockholders"; Price—$7.50. Business—Design and manu- v
facture of women's, .misses'/and junior sportswear, co/ Civic Center Redevelopment Corp.
V/ "* '
v
Nov. 22, 1961 filed 163,600 common, of which 100,000
ordinates- and dresses./Proceeds—For debt repayment,
N*bv. 13, 1961 filed $21,780,000 of income debentures due
are to be offered by the company and
63,600 by stockequipment and working capital. Office—2025 McKinley
1995 and 220,000 common shares to be offered in units - holders.
Price—By amendment. Business—Design and
St.; Hollywood, Fla. Underwriter — Clayton Securities
/consisting of 1% of stock and 99% of debentures. Price
manufacture of injection and blow molded plastic house..
rT
,
Corp./Boston, Mass,,;:;--
'
V
-
—By amendment.' Business—Company was formed for
the purpose of revitalizing downtown St. Louis. Pro-
/
.
Church Builders, Inc.
/■/.'/
v
Feb. 6, 1961 filed 50,000 shares of common stock, series
2. Price—$5:50 per share. Business—A closed-end diversified
management investment company.
investment.
Proceeds—For
Fort Worth, Tex.
Office—501
Bailey Ave.,
Management, Inc.,--Fort Worth.
Distributor—Associates
Ottering
Expected
Cinema
<
late February.
in
Studios
-
Cirteque Colorfilm Laboratories, Inc. (1/15-19)
Aug. 29, 1961 ("Reg. A") 120,000 common. Price—$2.50.
Business—The production of slides and color film strips,
Proceeds—For equipment, sales promotion and advertis-
Ins.
Office—424 E
89th St., N.
Eisenberg Co., N. Y.
......
Life
Ins.
Co.
of
Y.
Underwriter—Paul
York
(2/5-9)
Sept. 8, 1961 filed 147,000 common, of which 100,000 will
sold by the company and 47,000 by a stockholder,
Price—By amendment.
Business—The writing of ordinary life, group life and group credit life insurance,
investment
in
income
producing securiUnderwriter
A. G.
ties., Of Hce—33 Maid en Lane, N. Y.
Becker & Co., N. Y. (mgr.).
Citv
Dec.
Finance
Inc.
Co..
21, 1961 filed
-
110,000
-
January
15
(Alessandrini
Price—By amend-
common.
(Monday)
&
Co..
(Alessandrini
Inc.
*
Co..
Inc.
Hardy &
r
Everett
Parks
&
—The manufacture,
<
Hardy)
Hardy &
Atlas Electronics
Inc.
and
Savin
Sonic
Hardy)
Parker
■;
-
-
(J.'C.
-
Sportsmen,
$300,000
&
Co.)
Vv
/
.: XPaul
•
Cole Vending
Vic
1388,500
Common
/
,
Inc.
and
^/ZZZ/ZZZ;/ '-Z: Sunstein & Co.) $4,305,560
7 / Community Charge Plan
Singer
!
&
Elmar
Janis
W.
Co..
(Schwabacher
Fund,
(A.
&
Co.,
Kureen
—Common
$250,000
•/• (Russell
As
Vending Co.,
Futura
Moore
&
Co.,
Inc.
and
Industries,
s
Trust
i
-/^//Common
Coast Securities Co.)
:• _■_•__•
____.
Interstate
(Offering
r
*,
J:.-V-1.'-
Drug
Lincoln
(No
Mann Research
(L.
125,000
January
Plohn
shares.
$500,000
$375,000
Corp.)
Sessler
Co.,
Inc.)
w
\
Co.)
(C.
Z Marks
;
Inc.)
(Ross,
Lyon
.v.,'
January
22.x(Monday) '
Albert Voigt
Industries, Inc
Barnes
&
American
Financial
Bruce
(Shearson, Hammill & Co. and Westhelmer & Co.)
;
Astro-Science
.Common
(W.
$300,000
7
150,000 shares
Corp.
C.
232,500
$300,000
Inc.)
—Common
shares
240,000
.Common
Manufacturing Corp.—
Motor Parts
$200,000
V.
Common
&
Co.,
Class A
Inc.)
shares
120,000
Estate Investment Trust—Common
National Real
shares
$750,000
Industries, Inc
(Street
Common
Langley & Co.)
Co.,
&
Brothers)
(Street & Co., Inc. and Irving Weis & Co.)
Common
and
Common
Molecular Dielectrics, Inc.___
$320,000
Corp
Inc.
Co
(Frank Karasik & Co.)
Common
:
Inc.)
Co.,
—Common
Corp
Cup
Metatronics
shares
100,000
& Co., Inc.; Glass & Ross,
Globus, Inc.) 95,000 shares
(Lehman
.
Co.)
Towbin
Electronics
Maryland
100,000
Corp
(Richard
$500,000
Inc.)- 110,000 shares
——_—Common
and
-Common
Unterberg,
E.
'
Common
Herbert Young &
shares
Inc.
Co.,
shares
72,000
Co.)
—
Polarized
Marshall
Common
Corp
Securities
Securities
Corp.
^
and v-
Common
Corp...—
Coast
(Netherlands
(Friday)
Creative
Webber, Jackson & Curtis
Nikko Securities Co., Ltd.) $25,000,000
Paine,
Co.,
.Common
;
Common
Inc
Co.;
Films
Markite
&
$1,800,000
Jorn's Greeting Card Co., Inc
///:/;//(Godfrey, Hamilton, Taylor & Co.,
Knickerbocker Toy Co., Inc
i
$720,000
Common
Arnhold
and
Co.
S. Bleiehroeder, Inc.)
&
/
*
,_.Common
$1,000,000
Co.)
&
Towbin
Unterberg,
E.
(Bache
Jayark
Blauner
D.
$452,008
underwriting)
Corp.
Fund,
Japan
•
>
Laboratories, Inc
.
$1,500,000
Co.)
&
(C.
(Shell Associates, Inc. and Godfrey, Hamilton & Taylor & Co.)
&
...Common
&
(Milton
.Common
Casualty Co
Inc._______
Industries
Interphoto
Common
Inc
F.
19
shares
"
$315,000
A. Hart & Co.)
stockholders—no
to
(Pacific
$450,000
$35,000,000
Brothers)
(Lehman
7V-/'7/l;v'/i/'' '•"//
Common
Investment
(David
Inc.__
Sherman
Co.)
.
(Henry J.) Instrument CO J-—-—Common
ZZ7
Common
Investment
Common
Debentures
Co
T.)
(Offering
$20,000,000
Inc.)
Management Corp.)''951,799
Scientific
Quartite
.Common
Laboratories, lnc
D.
Smith
...v>
;
^.Ccipital
115,000 shares
Industries, Inc
(W.
'<>: Hygiene
shares
100,000
shares
133,333
Co.)
&
;
,
Common
Bullard & Smyth)
Filor,
Gulf American Fire &
>'
Common
Co., Inc
Co.)
&
Co.,
Fund, Inc
(Fred
Capital
Longstreth)
underwriting)
Industries*
Rothchild
and
(N.
,
$300,000
shares
100,000
Beane)
&
(Hemphill, Noyes & Co.) 185,000 shares
Common
Writer &
Inc.
and
Peters,
Inc
Co.,
Industries,
United
Shares
Devices, lnc
(Charles
-
L.
Pride
Debentures
Mandel &
Jennings,
Grant
$3,000,000
Electronics, Inc.;
(Warner,
Macoid
Inc.)
Glassr-Tite
Debentures
(Steven
stockholders—underwritten by Glore, Forgan
H. MByllesby & Co., Inc.) $2,550,000
Lomart Perfected
/:
Co.,
Co.)
Pierce, Fenner &
(Horizon
'
:
—
&
Walker
H.
and
Johnson
Y
$309,000
& Drum
(Stevens
$990,000
Hostsr Inc._
to
Co.
,
Appel)
L.
Real Estate Investment
(R.. Baruch
-
&
7
shares
150,000
Garrett Corp.
(Merrill Lynch,
$330,000
Inc.)
Inc.)
....Preference
Williston
H.
Co.
7vt
$300,000
1
(G.
$350,000
Co.,
Co.)
&
Class A
Co.,
&
Delaware Barrell
Common
Rosen
&
/
shares
120,000
Inc.)
—
(L.
(Hardy
:
■
—..Common
Co.,
Corp.
R.
,7
$607,500
Beane)
&
Fifth Avenue Cards, Inc
Common
Atherton
&
Mosley
Corp.
Green
Dempsey-Tegeler &
•
(Philips,
shares
Co.; A. G. Edwards & Sons;
Christensen,
Inc.; -Midland
Securities
Class A
inc.
Great Continental
200,000
Co., Inc
(Reynolds
..Common
&
Corp.)
&
Common
Pacific
Taylor
.Class A
Corp.
(Otto)
(Quinn
$300,000
(Godfrey,. Hamilton,
(J.
Eon
/'
.Common
Williston
R.
Yeatman,
Electrosolids
1
$10,840,000*
Co".)
David's Inc.
Garden State Small Business Investment Co.__Com.
Grafco
&
Common
,___i_.C«mmon
Baking Co
i(J.
Common
Corp
(Schirmer,
Bernz
.
;
110,000 shares
Common
Templeton)
-
(Suplee,
$229,500
Common
$575,000
Dougherty Brothers Co.
»
(Tuesday)
Airtechnology
$260,000
Airlines
(Raymond
Inc.)
Co
Higginson
January 16
shares
Inc.——
(No underwriting)
Christensen,
(Key), lnc
shares
1.250,000
Inc.)
Saxe,
1
•
$1,250,000
Inc.)
Inc.)
Inc
.
Deer Park
.Common
& Co.,
Common
Bayliss,
&
Cromwell Business Machines, Inc
:
■'''7/(Pacific Coast Securities Co.) $300,000
.
Family Circle Associates, Inc.—
Folz
;
■
'
'
Windsor
(Lee
Capital
Co.)
v
VJC:,<,/,v
——Units
;
$300,000
Common
&
Capital
Units
Empire Precision Components, Inc.(Ezra
Inc»)
$l,0o0,000
Co.)
&
(D. E. Liederman & Co., Inc. and Mitchum, Jones &
$750,000
$300,000
200,000
Inc.)
units
10,000
Common
Inc
(Brandtjen
Units
(McDonnell & Co., Inc.") 90,000 shares
;
Common
Co.)
Co.)
Motti,
Continued on page 34
Communications,
Corrigan
$150,000
Winchell Donut House, Inc.j
Gerstley,
Inc.___—
Becker
G.
&
&
&
(Bear^ Stearns
Electronics/ Inc.—
Empire
Westland
•
Common
Inc.)
Inc.)
V
.
Computron Corp.
,
units
36,000
Inc.)
Wheat
David
(Jane),
Colby
.
•
.
^
Co.,
Co.,
(Blyth & Co., Inc.)
Shares
EMAC Data Processing Corp
(M.
/
Co.)
&
Inc.-i.L-
(Alessandrini
&
Telephone
$575,000
•£.
Moyer, Fricke & French,
Coast
>
Common
Blosser & McDowell)
DeLuxe Homes,
"
West
;
■'7z/ZZ/:/Z..
•
Common
Voldale, Inc.
•
by these members. Proceeds—To repay debt and increase
Common
215,000 shares
Finance Co
(Peters, -Writer
ESsenberg Co.); $300,000
(Troster,
(1/15-19)
Realty Trust
1961 filed 430,556 shares.
22,
(Meade
Corp
(Globus, Inc. and Ross, Lyon
lnc//---Common
r'Commonwealth Realty Trust—
(Woodcock,
invest-
Proceds—For
fund.
mutual
Commonwealth
Nov.
Common
Tanny Enterprises, Inc..
$49,700
Industries, lnc
(Straus,
Business—A
.ment. Office—New Ulm, Minn. Underwriter—State Bond
and Mortgage Co. of New Ulm, Minn.
$1,500,000
Inc.-
(William,
Common
(Dargan
•
Corp
Co.)
&
Inc.—
(Keene
•
•
Haupt
Southern Frontier
$750,000
Co.)
lnc
Cineque Colorfilm Laboratories,
Machines
Systems,
$250,000
Blackman-Uhler Chemical Co
V
Business
Shatterproof Glass
••u'MHay,. Pales & Co. and McLaughlin, Kaufman & Co.)
-
value.
industrial
and
sale and servicing of vending ma-
(Ira
Common
Co.,
farm
.
(Shields & Co.)
Anoroc Products, Inc.
(G.
Stock Fund of State Bond and
1961y{iied
Common
and
of
.
Price—$10. Business
Acceptance Corp./
//////'•;///•; ZZ—A real estate investment trust. Proceeds—For general
Dec. 11, 1961 filed 80,000 class A common, of which 68,corporate purposes. Office—8201 Fenton Road, Philadel000 are to be offered by the company and 12,000 by
phia. Underwriters—Woodcock, Moyer, Fricke & French,
stockholders. Price—$12.50. Business—A small loan fiInc., and Gerstley, Sunstein & Co., Philadelphia.
nance company. Proceeds—For debt repayment. Office—
0
rnmmimifu eLarfrp npan
(i/is-ia)
36 Lowell St., Manchester N. H. Underwriter—Eastern
3ept 22
$3 600,000 of 6% subordinated debenInvestment Corp., Manchester, N. H.
:
tures due
1976
(with attached warrants to purchase
CoEby (Jane), Inc. (1/22-26 )
72,000 common shares) and 216,000 common, to be ofOct. 19, 1961 filed 105,0.00 common, of which 50,000
f
d
.
it
conqjqting of a $100 debenture
(and a
shares are to be offered by the company and 55,000
£ered ln unlts consisting ot a ?1UU debenture tana a
shares by stockholders. Price—$10. Business—Manufacwarrant to purchase two shares) and six common shares,
ture of women's apparel. Proceeds—For general corpoPrice—By amendment. Business—The purchase at a
rate purposes.
Office—113 Fourth Ave., N. Y.
Underdiscount from merchant-members, their accounts receivwriter
Meade & Co., N. Y.
able arising from customers who hold credit cards issued
/
Wide, lnc
&
common
Coastal
Debentures
and
1 Common
*
Mortgage Co.
Z./Z.
shares. Price—$1.50:—Jam* 2- 1962 filed 2,000,000 common. Price:—At net asset
'
& Son,- Inc.
manufacture
repay
Hutton & Co., Cincinnati,
,
Cole Vending Industries, Inc. (1/15-19)
Aug. 28, 1961 filed 115.000 common. Price—$5. Business
.
Wide, lnc
All Star World
The
—
stadium
equipment. Proceeds—For materials and inventory, research and development and working capital. Office—
1303 Elm St., Rocky Ford, Colo. Underwriter — Stone,
Altman & Co., Inc., Denver. Offering—In late February.
•
All Star World
(Francis H.)
a
St., St. Louis.
"
■
July 3, 1961 filed 1,000,000
NEW ISSUE CALENDAR
•
V
8th
ities,
-
New
be
Proceeds—For
/ ;
•••■";.
Proceeds—For
working capital. Office—309 Ainsley Bldg., Miami, Fla.
Underwriter—Dalen Investments & Funds,
Inc., Miami,
Citizens
Ciute
Business
Business—Production of motion pictures.
Office—407 N.
Underwriter—None.
-
Inc.
Dec.14, 1961 ("Reg. A") 75,000 capital shares. Price—$1.
•
ceeds—For acquisition of land, construction of
and related facilities.
Proceeds—To purchase machinery, expand facildebt, and increase working capital. Office—
1625 W. Mound St., Columbtis, O. Underwriter—W. E.
wares.
,
'
/ Marlene
Industries
(Bernard
M.
Corp.——.
Kahn
&
(Guardian
-
Corp.)
North
Atlantic
A.'
(G.
'
•
Industries,
Saxton
,
Oceanic
"'
&
•
Instruments,
&
Co.)
Bolar
Common
131,500
-
(Hirschel
(S.
•
^
$500,000
Common
r
_'
(T.
Potoma
.Common
&
Weill)
105,000
Pacific Nutrient & Chemical Co
(Paul Eisenberg
Popular
& Co., Inc.
Librarv,
(Sutro
& Col, Inc.)
lnc
127,500
of
New
'
b
/
.
Shoe
L.
Corp.)
\
*
(Paine,
$225,525
B.
Uapital
Cantor Co.)
$687,500
Corp.—
Ferman
Co.,
Securities Co.,
(Hornblower
&
,
Weeks)
,
/,/
-Common
—_——
(Schmidt,
Sharp,
McCabe
&
Co.,
Inc.)
$100,000
Webber,
Jackson
Cylinders,
(Woodcock,
Common
Southern
Southern
$300,000
18,000
Co.,
Inc.)
$1,387,500
Inc.)
$280,000
r—Common
(First
shares
Certified Industries. Inc.———
—Units
(Singer, Bearie & Mackie, Inc.) $750,000 .
Co.,
'•
'
""
"
.Units
__________
French,
&
Securities
i-Common
Inc.)
$300,000
Common
——
Heller
Co.,
&
Edison
Inc.)
$200,000
Common
Co
Corp. and Dean Witter & Co.)
Growth
(Capital
;
Fricke
California
Boston
Capital
$900,000
& Curtis and American
100,000 units
Corp.
(Rothenberg,
Common
Inc.)
&
Inc.———
Jtfoyer,
Servonuclear
$898,764
Inc.)
Ceco Steel Products Corp
.
Roto
v
...Common
&
&
Ripley Industries, Inc., and
Jomar
Plastics, In£
,
Sabre, Inc.
Young
Reher Simmons Research, Inc.—
(McLaughlin, Kaufmann & Co.)
shares
187,250
Capital
Securities
(Herbert
A
Common
,
Weeks)
Cavalier Radio & Electronics Corp
(General
—Units
'
$1,675,800
'
Caribbean
(Robert
(Offering to stockholders—underwritten by Sutro Bros. & Co.)
■
&
$405,000
Common
(Dempsey-Tegeler
$187,000
Publishing Corp
(S.
,
shares
York
Inc.)
Ltd.)
Corp.,
Rapid-Film Technique, Inc
Class
Co.,
$399,000
Capital
(Gaumont
$100,000
Carriers, Inc
Caldwell
$480,000
Laboratories, lnc
-Common
.":«^f,./R°detsky, Walker & Co.. Inc.) 150,000 shares
Corp.
Kirsch
Common
Inc.)
Co.,
Originala, Inc.
Common
Inc.)
&
Mines, Inc
Olympia
$300,000
Inc
Co.,
Karasik
Corp.)
Rainbow Photo
Realty Equities
Cable
(Capital
Capital
:
Brothers & Co.)
x
j
Common
:
and Magnus
shares
&
Burnham & Morrill Co
Globus. Inc.)'$140,000
Berlind,
Co.,
Miller
M.
(Frank
$375,000
Co.)
&
$15,000,000
(Lee Higginson Corp.)
Tel-Tronics
Corp
Common
(Hornblower
Products, Inc.—___
(Carter,
Co.)
Baum
Pneumatics, Inc
'
Ozon
Cantor
Pharmaceutical
Boston
>
,
National
Common
K.
(Natale,
shares
-Common
Inc....
B.
(George
r
$500,000
(H. R.), Inc
$300,000
Inc
Co.(> Inc.)
Inc.
Block
$300,000
Co.),
&
Nutri-Laboratories.
A
North
Common
Co.)
Best Plastics Corp..
Common
Investment
Fitch,
Corp
Common
New West Land Corp.—
.(Barrett,
G.)
(Arnold Malkan &
$1,575,000
"National Capital Acceptance Corp
..
(R.
Barry
...Common
Co., Inc.)
1,500,000 shares
Common
Industries, Inc
Securities
Corp.)
'
$600,000
Continued
on
page
34
34
Continued
(198)
from
The Commercial and Financial Chronicle
33
page
Business—Sale
....
Proceeds
capital.
working
Office—10
Banta
Place, Hackensack,
N. J. Underwriter—Troster, Singer & Co., N. Y.;
6, 1961 filed 120,000 common, of which 90,000 are
offered by the company and 30,000 by stockhold¬
Price—$3. Business — Manufacture of miniature
to be
ers.
coils for relays used in computers, aircraft, missiles and
guidance systems. Proceeds—For general corporate pur¬
poses.
Office—88-06 Van Wyck Expressway, Jamaica,
N, Y. Underwriter—^ay W> Kaufmann & Co., N. Y,
Computer Concepts Inc.
Dec. 29, 1961 filed 100,000 class A
Price
common.
$5.
—-
of
digital computers. Proceeds — For general cor¬
porate purposes. Office—1012 14th St., N. W., Washing¬
ton, D. C. Underwriter—Doft & Co., N. Y.
use
Computron Corp. (1/22-26)
Sept. 15, 1961 filed 500,000 common. Price—$1.15. Busi¬
ness—Research, development, design and production of
electronic automation devices. Proceeds—For
equipment,
research and development and
working capital. Office—
9330 James Ave.South, Minneapolis. Underwriter-—
Brandtjen & Bayliss, Inc., St. Paul, Minn.
/
'
»
/
\
1
"
Concord
>
,
Nov.
28,
year
warrants
1961
filed
to
at $2 per share)
one-half
facture
J '
'
'•
"
Products, Inc.
'
''
'
'•
•'*.
!
'
'
^
'
■'
'*,1
-
j(
kitchen
and
Corp. (1/29-2/2)
1961 filed 125,000 class A
20,
120,000
(with attached
common
purchase
additional
an
to be offered in units of
60,000
3-
shares
share and
one
Price—$2 per unit. Business—Manu¬
cosmetics, toiletries, cleaning chemicals, jew-
elery, etc. Proceeds — For general corporate purposes.
Office—525-535 E. 137th St., New York City.
Under¬
writer— NV A. Hart & Co.. N. Y.
Concors Supply
Oct.
19,
1961
Co., Inc.
filed
100,000 class A
Continued from
Steel Plant
Struthers
W.
corporate
^ Continental Investment Corp.
r
1961 filed 2,000,000 common. Price—By amend¬
($3 max.). Business—A mortgage, and real estate
investment company. Proceeds — For fworking capital.
.Office—ScQttsdale Savings Bldg., Scottsdale, Ariz, Un¬
ment
Corp.*
l <
29, 1961 ("Reg,- A") 70,000 common. Price—$3.
Business—Compounds and packages cosmetics, house¬
hold pharmaceutical and industrial products.
Proceeds
>
u
Sept.
—For
.
:
equipment and working capital.
Office—107 Sylvester St., Westbury, N, Y* Underwriter
E. Bayard & Co., Inc., 80 Wall St., New York City.
Offering—Imminent.
Consolidated Bowling Corp.
Sept. 28, 1961 filed 200,000
(1/29-2/2)-
•
-^ Consumers Mart of America, Inc.
&
Co.,
Inc.)
(Eastman
Dillon,
Union
Securities
Tripoli Co., Inc.—
1
(S.
8c
Co.)
.
(Hess,
Controls, Inc.
(N,
—
A.
Hart
&
—
Co. >.
Van-Pak, Inc.
<
Inc.)
$270,000
&
Inc.)
(Lehman
(Offering
(William R.
.
137,500
and J.
A. Hogle &
(Bids
12
noon
Shamrock Oil & Gas
Co.) 350,091
(Roth
shares
Conductron
EST)
$5,565,000
Dale
(Morgan
Tennessee
Stanley
Valley
(Bids
&
Co.)
(Auchincloss,
Bonds
Eastern
received) $45,000,000
January 29
(Monday)
Aceto Chemical
Eastern
Aero Electronic
(Roth
Acrylic
Optics
(A.
Acrylic
Co.,
Inc.)
-Debentures
&
Co., Inc.)
Co., Inc.)
$50,000
Aero-Dynamics Corp.
(Cambridge
Securities,
Inc.
and
E'dward
$500,000
Lewis
Co..
I
(International Sendees Corn.!
Florida
.
,,,
,
Allied
(Dempsey-Tegeler & Co..
Aluma-Rail
8c
Co.,
(E.
A.
<Bear,
Stearns &
Co.)
shares
Building Maintenance Industries.__Cap.
Loeb, Rhoades
&
Co. and Sutro 8c Co.)
141,000 shares
American Finance Co., Inc
(Myron
A.
/
Artlin
(Troster.
Mills,
B.
Singer
8c
Co.)
&
Co.,
$675,000
Investment
Planning
Common
Co.)
$140,000
3
'
Seigel,
Co.,
Inpak
'
(Allen
.
Tidewater
;V
'•-'-
&
(General
8c
Co.)
Joseph
Nadler
&
Co.)
Co.,
Inc.
and .S.
Rides,
(Paul
&
(George
K.
(Putnam
Krylon,
&
Co.)
1,000
&
Baum
Title
Co.
&
Co.)
Co.)
$975,000
100,000 shares
Dillon, Union Securities
Laboratory Procedures, Inc
&
210,000
Co.)
&
Co.)
250,000 shares
Inc.)
4, 4
••;•
.
Common
-
.—-Common
v; 'V4'
shares *••■•'•"4
i_/_:....^.Common
Inc.)
$1,000,000
and
Nomura
r1
shares
&
';
■
Common
Securities
:
Co.
Ltd.)
»■':
-...Common
70,000
Co.)
Securities
(Amos
Corp.)
shares
/
:
Treat
Co
Common
—
Co.)
&
$165,485
$600,000
Capital
———
underwriting)
$1,125,000
?
Common
—
(Ezra
Kureen
Co.)
$287,500
(Stearns
:.
'.
" >
&
Co.;
Clark,
Co.,
&
Uropa International,
-
-
(Dean
Weinstock
Inc.)
&
90,250
Porges
shares
and
Samitas
&
Elmaleh
"
Inc..-
Common
Co.)
$300,000
—Capital
(Pacific Coast Securities Co.)
$250,000
*"
.
Universal Electronics Laboratories Corp.—Common
-
Common
^
Common
Corp.
■4
j
..
.
,
$270,000
shares
175,000
Co.,
&
Lestrange
(No
Univend
Common
&
Co.)
Ultra Plastics Inc._
^..___Common
&
Co.)
&
_—
Co.—
(Continental
.
/
units
,
Co.,
&
Corp..
^
Union
■
Inc.
(Eastman
•
Units
Kimball
.
Common
Inc.
Rennert
Barney
Co.,- Inc.)
Inc
C.
-
Common
Kasdan
$425,000
Kiddie
4
$382,500
Distributors, Inc
Securities
,.
..Common
Industries, Inc.-
Lumber
(Arthurs,
U-Tell
Common
and
,
Tyson Metal Products, Inc.—
i
•
$120,000
Inc
Co.
Interworld Film
Kaufman
Common
shares
shares
Kaufman
Fuller
D.
(Rubin,
iSmith,
J
Inc.)
Common
Systems,
(Stearns
165,000
30,000.000
Inc.
(McLaughlin,
v
v
_i—
$600,000
'
•*«
- -
100,000
£ Tokyo Shibura Electric Co., Ltd.
("Toshiba")
!
-——Common*
&
$800,000;
Inc.)
...Common
(McLaughlin,
'
'
)
....—Common
Co.)
O'Connor;
Standard Industries,
(S.
-.Common
Kesselman
$230,000 /
(Boenning & Co. and Rodetsky, Walker
;
120,000 shares
and
8c
underwriting);$500,OQO,
Spandex Corp.
——Common
Inc.
"1—Common
Centers, Inc.—
Texas Tennessee
Inc.) $283,088
$300,000
Co.)
_.
(No
;
.
Common
—
&
Treat.
Corp.
.
.
r
'
" :
Common
:
$500,000
"
-
-Common
$600,000
Kollmorgen Corp.
Common
Inc.)
8c
Plohn
Ahalt; 8c
Silo Discount
:
Co
underwriting)
!
Inc.)
Co.,
Seg Electronics Co.,. Inc.--_—*.4-
l~
-
*
$200,000
Co.)
Electronics? Inc.—
(Searight.
Co.)
$1,540,000 V ** "'1<
King Louie Bowling Corp
$2,000,000
;
Burnside
Atmospheric Controls, Inc
(First
Grumet
Petroleum Corp.___Debentures
Inc.
(Mortimer
Inc.)
Westmore, Inc.—
Units
Lomasney & Co.) $1,250,000
American,Realty &
of
Hydra-Loc,
$225,000
American
(Carl M.
House
,
Common
1
•
(Patterson Securities & Investment Co.,
;
$200,000
430,000
Co.,
(L. F. Rothschild 8c Co.)
(Brand,
———
Ltd.)
v-
;
&
Hoosier Soil Service, Inc
">l
8c
-Common
$3d6,000
Co.)
Common
American Book-Stratford
Press, Inc.— Common
*
Common
Treat
(No
,
Manning,
&
&
Corp..
•-
Corp
Ltd.) $300,000
Common
Malkan
(Amos
.
High Temperature Materials, Inc._
.
Sea-Wide
:
Common
shares
Electronics, Inc.—
Servotron
8c
160,000
(Amber, Burstein 8c Co., Inc.)
»V v.
Hardy
Inc.)
'
—Common
by
^.Common
Inc.). $300,000
; Sav-Mor Oil Corp.—.-
$224,001
Common
shares
Inc.)
Co., Inc.)
Harleysville Life Insurance
Common
Burstein
&
stockholders—underwritten
Palm-Aire
$300,000
Inc.
(Amber,
Amerel Mining Co. Ltd.
to
(Amos
Common
..
_
$460,000
Gould Paper Co.
Inc.)
Inc.) 250,000 shares
Capital Corp
<Allen 8c Co.) 213,427
Inc.)
Corp.——
(Hardy
$300 000
(Stein Bros. 8c Boyce and
Vickers, McPherson & Warwick
199,000 shares
Co.,
100,000 shares
Corp.——————.^.Common
(Charles
Corp.—-Debens.
$620,000
Inc )
Airtronics International
Corp. of Florida—Common
Alan-Randal Co., Inc.
.V 1
(Pacific Coast Securities Co.)
Alaska Pacific Lumber Co
&
$400,000
—^.-Capital
Co.,
Co.,
(Gianis
Rodale
-
Common
.__t
Burstein
Palm-Aire
(Offering
r
Agency Tile Industries, Inc
Parks
-
>
&
Raritan Plastics
shares
$2,500,000
Cards, Inc
Florida
■
...Common
Improvement
Inc.)
^
Lewis
(Arnold
Corp.—Common
Inc.)
Common
Co.,
&
Interonics, Inc
Units
Everett
(Amber,
Common
Gilhard &
100,000
French,
—Common
(Netherlands Securities Co., Inc.) $500,000- • t*-' f
Common
.
Flair
$240,000
Corp
D.
&
shares
Corp
(M. Posey Associates,
RF
Fidelity America Financial Corp.—
$400,000
■
Optics
(A.
&
Gilhard
Properties
(G.
Common
Corp
D.
Redpath)
Fastline Inc.
$440,000
Products Co
8c
Improvement
.Common
:
215,000
——
(Blair
Co., Inc.) $325,000
Fricke
.> >
$843,000
Co.)
Co.)
Murphy
Plymouth Discount
(Woodcock, Moyer, Fricke & French, Inc.) $1,500,000
Co.,Inc.——w—j..*—Common
(Karen Securities
Corp.)
.
Common
Parker
Bell &
(Edward
■
Moyer,
■_Class
Plasticrete Corp.
Common
&
Inc.)
Frederic,
8c
(Warner, Jennings, Mandel & Longstreth)
Common
Arrin
Properties
(Woodcock,
'
Papekote, Inc*
$300,000
District Photo, Inc
$30,000,000
Authority
to be
(Theodore
,
.i_l__Common
Systems, Inc
—Bonds
Odzer
Premium
(Pearson,
*
$147,500
and Spiaine
shares
Nationwide Bowling Corp/
shares
Common
—
Cj.
Corp.——.
(Kleiner,
Narrows
4
125,000
&
(Harrv
-
(Herbert Young & Co., Inc.)
(Commonwealth of)—
Podesta
Mobile, Rentals
.
$400,000
Stieglitz)
Inc.)
—.Common
■■■•■
v>.
——Class A
&
Frederic,
8t
■,:?.;
(Mortimer- !b,:Bprpside;' &:-Q? )•. $435,000 :
Mobile Estates, IncI
—"———Common
"
Cryplex Industries, Inc
January 24 (Wednesday)
Australia
Vv.
Common
Inc.)
152,500 shares
Spiaine
and
100.000
$300,000
(John A. Kemper 8c Co.)
$10,000,000
(Cruttenden,
*
Halle
&- Co.
———
—.^..Common
Co.,
Sachs
J
—Common
Metallurgical/^ Interiiationai^ Ine^
v
(DoOlittle & Co.) 200,000 shares
.
Debentures
a.m.)
&
and
$9,983,000
Co.)
..Debentures
Podesta
Metalfab, Inc.
Warrants
Coyle's Voting Machine Co.——
Texas Power & Light Co
11:30
Co.
:
Goldtfian,
Industries, Inc.——-'
(Francis I. duPont & Co:.)
Common
$15,000
Consolidated Bowling Corp.—_—___ 1.
Corp..—i————Debentures
(First Boston Corp.)
$25,000,000
(Bids
&
by
$600,000
J
Corp.
(McDonnell
shares
iu--^Debenturqs
stockholders—underwritten
(Cruttenden,
Shares
$330,000
underwriting)
Concors Supply Co., Inc
—Equip. Trust Ctfs.
'
+
underwriting)
Common
250.000
Co.)
&
i_—_—Common
shares
140,000
$220,000
Securities
Metalfab, Inc.
shares
—Common
Co.)
(Sandkuhl 8nf Co., Inc.)
:
Common
Seaboard Air Line RR._
&
Century Brick Corp._^.
shares
San Diego Imperial
Corp
(White, Weld 8c Co., Inc.
Staats
(No
.
to
-Common
Industries, Inc
(No
Inc.)
280,000
$550,000
$273,000
Corp.
Union
&
Melnor
Capitol Research Industries, Inc..:
(Tuesday)
Co.,
be named)
Inc.)
Co.,
&
Coke
McCall Corp.
(Offering
92,320
35
page
——--Common
Inc.)
Co.,
(McDonnfell & Co., Inc.) 200,000 shares
$300,000
underwriting)
8c
Maxam, Inc..
368,700 scares
InO.)
&
Dillon,
Common
stockholders—^no
Capitol. Research
Paramount Foam Industries——Common
&
Co.,
&
Inc.)
...
Coal
(Eastman
shares
Campus Casuals of California
shares
(Godfrey, Hamilton, Taylor & Co.) $486,000
(Pialkov
to
(To
(L. F.), Inc. _————__..Common
January 23
80,000
on
—————Common
DuBoff,
&
Seidler
(Terrid
Maust
$300,000
Cambridge Fund of California, Inc.—-Common
$2,100,000
154,000
PodestaCo.)
Continued
Marie Design & Mfg. Corp.-1—-—- -——Common
.Capital
——
Common
Common
Brothers)
Co.)
(Albion Securities Co., Inc.)
Bush Terminal Co
.
Virginia Dare Stores Corp
Widnrann
Common
—
Bernard
(Flomenhaft,
shares '
160,000
Building Ventures, Inc.
——Common
Co.,
*
Co.)
Securities
Ripley
(Joyce), Inc.-—
Corp.
r
—Common
CHarriman
,
70.000 shares
_—
Hodgdon
Lido
Browning Arms Co.——-——-Common
f
.Common
—
Valley Metallurgical Processing Co
(McDonnell & Co.,
,
Leslie
(Seymour,
—
Coast
(Cruttenden,
Arthurs,-,^
&
„
-Preference
Bowey's, Inc
^Debentures
•:
& Remington,
Inc. and
Lestrange & Co.) $600,000
Fuller
Bayliss,-" Inc., St. PaUl.
-
70,000 shares
Pools
(Pacific
Common
Grant
D.
Haven
240,000 shares
—
United Aero Products Corp
:
Blue
&
J.)y
Office—4701
$330,000
Bay7State Electronics Corp.
(D. L. Greenbaum & Co.) $300,000
,
u. S.
Com.
Common
(F.
Cooke
___——Common
Inc.)
Co.,
(First Boston Corp.)
shares
150,000
&
;
-
Inc.
Dec. 29, 1861 filed 125,000. common. Price—$3,75. Busi¬
ness—Manufacture of high vacuum systems and elec¬
tronic equipment. Proceeds — For debt repayment and
general corporate purposes. Office—145 Water St., South
Norwalk, Conn. Underwriters—John R. Maher Associ¬
ates and Bull & Low, N, Y.
writer—Shearson, Hammill & Co., N. Y.
———
i
i
•
Underwrite
lis.
29, 1961 filed 180,000 common. Price—By amend¬
($12 max.). Business—Furnishes technically skilled
personnel to industry and government. Proceeds—For
selling stockholders. Office—650 11th Ave*, N. Y. Under¬
Murphy
.•••''"!
•/
ness—Development and production of electronic testing
and training devices. Proceeds — For expansion and
working capital. Office—9340 James Ave., S., Minneapo¬
Dec.
,———
j
?
Control Dynamics, lnc-> (3/5-9) W.
Oct. 24, 1961 filed 500,000 common. Price—$1.15; Busi¬
ment
——
:'-v-• '/
-
1
★ Consultants and Designers, Inc.
-
-
»
rities, Inc., N. Y.
Business—Operation of bowling centers. Proceeds
and working capital. Office—880 Mil¬
itary Rd., Niagara Falls, N. Y. Underwriter—Doolittle
& Co., Buffalo, N. Y.
Inc.
""
Center, Pittsburgh, Pa. Underwriter..— Cambridge.Secu¬
.
—For expansion
ceeds—For expansion and working capital.
1
/
Leasing Corp.-v.v^^A44.4,rv44June 19, 1961 ("Reg. A") 75,000 common. » Price — $4.
Proceeds—For purchase of new automobiles, advertising
and promotion, and working capital. Office—4 Gateway
Price—By amend¬
common.
'
Continental
ment.
Basic
.
derwriter—To be named.
debt repayment,
$300,000
Homes, Inc
Y.
N.
Inc.,
Dec'. 29,
Aerosol
(Pearson,
Co.)
..
—
——Common
Scientific & International Corp
(Hirsch
Swift
8c
V,P' .;4
Office—2724 Leonis Blvd., Los An¬
purposes.
geles. Underwriter — Amos Treat & Co.,
Offering—Expected sometime in February. '
Stieglitz, N. Y.
Ausco, Inc.
Hurley
'
Electronics Corp.
Nov. 21, 1961 filed 200,000 common. Price—$2.50. Busi¬
ness—Development and manufacture of television pic¬
ture tubes.
Proceeds—For debt repayment and othefr
amendment. Business—Research and development in the
general field of electromagnetic radiation for the U. S.
Government. Proceeds—For debt repayment and other
corporate purposes. Offiee—343 S. Main St., Ann Arbor,
Mich. Underwriters
McDonnell & Co., and Halle &
33
page
Equipment Corp
(Joseph
Price—$4.
common.
v'
'/'4'
Industrial
Continental
8, 1962 filed 72,000 common; Price—By amendment.
Business—Operation of discount department stores. Pro¬
(1/29-2/2)
Chicago.
Underwriters—Rittmaster,
Midland Securities Co., Harris-
Ave.,
burg, 111.'.'
Jan.
•
Thursday, January 11, 1962
.
Voisin & CO., N. Y. and
Price—By'
common.
Harlem
N.
equipment.
(2/13-16)
warrant.
of
service
Conductron
Dec.
Consolidated
Business—Development and sale of advanced program¬
ming systems, for solution of business problems by the
food
equipment/ debt repayment and other
corporate purposes. Office—110 "A" St., Wilmington, Del.
Underwriter—Roth & Co., Inc., Philadelphia.
Computer Components, Inc.
Dec.
of
For
—
,
.
;
;;4444:4;;
Continued
on
page
35
Volume
195;
Number 6124
Continued from page 34
:
.
The Commercial and Financial Chronicle
(
-
.
•
Cromwell Business Machines, Inc. (1/22-26)
Aug. 1, 1961 ("Reg. A") 100,000 common shares (par 50
cents).
Price—$3. Proceeds—For repayment of loans,
.
•y.y'\;
Copymation, Inc.
'
Dec. 28, 1961 filed 60,000 common.
Price^-by amendment
($15
maximum)
machines and
Business—manufacture
the
distribution
photographic laboratory equipment,
machinery,
photo-copy
of
office
of
machines,
Proceeds—For
Corporate funding Corp.
9, 1962 ("Reg. A') 75,COO class A
—$2.
Business—A
financial
Oct.
V«.
Jan.
"holding
Proceeds—For expansion and working capital.
Broadway, N. Y. Underwriter—R. F. Dowd
Inc., N.
munications
and
of
tutorial
in
use
electronics
individual
class
and
(1/29-2/2)
E.
com¬
Custom
David
Products,
:
Atkins
Office—626
Ave.,
Brooklyn, N. Y. Underwriter—B 1
Lieberman & Co., Inc., N.
Y*77:yW:^
a n
David's
«
k,
' -?•;
Cut &
Curl, Inc.
■Dec/20, 1961 filed 100,000 common. t*rice^$4.:,Business
—Operation ox beauty salons. Proceeds-—For expansion.,.
Office—67-11 Main St.,
Flushing, N. Y. Underwriter—M.
J. Merritt & Co., Inc., N,'Y.
-
;
Mayer,
&
French,
t-'.'»
■
DaSe Systems, Inc. (1/29-2/2)
Aug. 9, 1961 filed 100,000 common. Price—$3.25. Business
—A shopping service which' checks the
efficiency of
•
retail
sales
employees. Proceeds—Expansion
Toy House. Inc...
St. Louis.
Davis
Josnua
&
World Scope
Worldwide
Reuben
Rose
Publishers, Inc.—
Securities
Fund
Corp.)
—-
<fe
Co.)
■
February 6
:
Common
Water
(Bids
•
(Monday)
Col p.
El Paso
a, Bruce
u
..la
(No
American Micro
Mount
Central
$381,000 "
&
Co.,
7'Y,
$200,000
Inc.)
Co.)
&
: (Armstrong
&
Co.,
Inc.)
(A. -G. Becker & Co.)
>
147.000
_
Common
_
(Bear,
shares
*
•
^
,
E.
(W.
Hutton
&
Co.)
163,600
shares
•Cosnat Record Distributing Corp.—__
'
v/:i;,:-"":''(Amos Treat .& /Co.)
I50,uoo snares
1
:
(Lieberbaum & Co..and Morris Cbhon & Co.)
X/.YY
'.-'-.C- (Hancock
Securities
Com.)
$243,000
(Paul
C.
Kimball
&
Co.)
Gard
(Andy)
"'(Vail
♦
.
Lunar
(Ehrlich,
Inc.)
Milo
(D.
Kirsch
B.
Marron
National
Co.,
Inc.
&
Inc.)
R.
166,667 shares
E., Investors
Lewis
&
Inc.)
.
(Professional
.
&
Policy-Matic
Planning Corp.
Co.) $200,000
Affiliates,
(Balogh
&
Inc.)
Co.,
&
(Lieberbaum
&
Inc.)
Co.)
J.
:
Camp,
(Reynolds
&
•Tech-Torch
&
Co.,
.
"
'
-
*, M;
"
(Edward
&
Co\,
&
&
...
Co.,
'<Morris• Cohon
,-Wiatt
.
/."
'
(Norman)
Co.^
.
Co.)
&
shares
D.
Blauner
&
Jackson,
•;
•
«
sOv
^
'
&
Co.)
A
(Godfrey,
United
Co.)
'
Common
'
$300,000
>
(Cortlandt
Corp.__.Com. •
•'
V>(.
.
Investing
:4'
March
(Offering
•
.Y
130,000
February 19
$3,000,000
Common
&
Federal
(Monday)
,
'
Noyes &
1.
Co.
and
Paine,
1,700,000
Co.,
200,000
Inc.)
&
Co.,
shares
——.Common
—Common
Inc.)
$300,000
....Common
Inc
230,000 shares Yv
Inc.)
..Common
Taylor
Co.
&
and
Magnus
Hamilton,
Co.)
&
shares
Taylor
1
Common
&
Co.,
Inc.)
$306,000
:/
&
Electric Co
stockholders—may
to
—Common
underwritten
be
/
&
Merrill
(A.
C.
Common
1—
Bayliss,
Inc.)
$575,000
Common
...•
Allvn
&
Co.)
$7,500,000
_
/-
—
(M.
.
<7y77-
Woodhill,
Common
Inc.)
$700,000
• -
*■>-'
-
OBid's
ta be
.Bonds
r^ceivfed)
$25,000,000
.
/;"March 15 (Thursday)
' \ '
Ridge Tool
•:
Or*
'CWhikte,
.
Co.--—J-7—JUL*.———
Weld &
April 6
Ben.
H.
West Penn Power Co.—z
.■•„
';
r
by
shares
(Monday)
(Brandtjen
1,
:v'-./
>•
$525,000
'• ' •;
(Thursday)
Gas
Industry Capital Corp.
Co.
and
McDonald &
Co.)
Class A
284,586
shares •
(Friday)
Int.
Webber,.Jackson St Curtis)
shares
-
—Common
Spartan International Inc—
Mortgage Investors
(Hemphill,
(
shares
$6,375,000
Co.)
Control Dynamics, Inc
Corp...._Commonv
Units
103,000
shares
$5,500,000
■///!., 84,000 shares
$360 000
Lynch, Pierce, Fenrier & Smith, Inc.) 328,912
(Offering to stockholder^ underwritten by Dean Witter & Co.)
,7/",i'..;
Common
Inc.)
Packaging Co., Inc..-
Oklahoma
$300,000,000
Corp.)
Co.,
America^
Hamilton,
$1,590,000
Western California Telephone Co._______.Common
...
Co.,- Ino.)
$286,875
Controls, Inc
(Godfrey,
Common
& Plastics
*'
$250,000
Inc.)
(Thursday)f.;
National Equipment
$325,000
Automation
&
February 15
&
Inc.——.
150,000
7
•\!
&
Co.)
&
&
(Blair & Co.,
Time
.Debentures
(Bache
" '
Lee
Products, Inc.
Sperti Products,
Tork
125,000 shares
Vornado, Inc.
"
&
of
(Terrio
-
Capital
American Telephone & Telegraph Co.__Deb. Bonds
;
L.
/Y • •■/'.:■/ :,-7..
;
.....Common
Inc.)
Taylor
Cos.,
Y-7-Y
115,000 shares
Curtis)
received)
,
$400,000
M.
—v.-—.——-
Haupt
March 5
be
Securities,
Finance
Seashore Food
(Wednesday)
to
Co.)
and
Inc.
Co.,
Rothschild
F.
(Blair
Class A
&
A
and
(Goldman, Sachs & Co.) 454,000 sharese
Darlington & Grimm) 160,000 shares
Webber,
&
—
Printing Corp.
Common
Co.,
Class
Products, Inc. k_——.i—Common
i_____Common
Co.)
Common
shares
—
Inc.; Seymour Blauner Co,
Haft & Co. ) $600,000
(Ira
Oxford
^
•
...
&
$332,500
220,000
Municipal Investment Trust Fund, Pa. Series.-Ints.
......Class A
Co., Inc.)
Seidler
I
;
$350,000
160,000
shares
185,000
(J.), Inc. —./7..Common
.
...Common
Co..
Blauner
February 14
Co.)
(Schwabacher & Co,^ J*. Barth .& Co. arid Bear, Stearns
'
:
Co.) 135,000 shares
.
(Hill.
Common
Inc.)
.
•
&
Inc.)
Corp.)
Co.)
&
Inc....—-.—
/
shares
Publications, Inc.—...
(Paine,
-
" (Valley Forge Securities Co.. Inc.) $300,000
Westates Land Development CorpV.'J
A
Y.
„_.-,_^-Common
Inc.)
Corp
Lewis
Engineering
$15,000,000
....
Harvey
-Tele-Communications
'Turner-.
Inc.)
Co., Inc
"t(Scott,
,
100,000 shares
Inc.)
$900,000
—.——Common
$1,800,000 -'.t
Michaels
Common
Co..
Co.,
Corp....
Blauner
(L.
Co
&
Inc.)
Chemicals, Inc
Bros.
(Sunshine
$300,000
Corp.....
&
&
Investors
(Godfrey; sHamilton,
$150,000
200,000
Co.,
-
Debentures
"
(Reynolds
Co.)
shares
Common
Inc
•/!' 7
Lithoid,
$900,000
shares
Stokely-Van Camp, Inc
Co.)
60,000
Co.)
(Charles Plohn «fe
•
D.
,Y
....Common
Co.)
Fuller
(Bids
100,000
Inc.)
—Common
Common
Taylor
7Sprayregen;
'/'.S'
Honora, Ltd.
■
Youthcraft Creations, Inc
Common
Inc.)
&
Gilhart
D.
(Milton
Debentures
Inc
•
&
Amos Treat &
and
E.
Scientific
-<•
shares
Tri-Point Industries, Inc.—...
.
Lunt
shares
200,000
Co.,
&
Common
shares
Inc
Co.,
Hamilton,
Plastics
(Milton
.........Common"
&
150.000
Hartman Marine Electronics Corp^....—Common
$240,000
200,000
Co.)
Co.)
&
Lestrange
Industries,
Hillside Metal
Trans-Alaska Telephone Co.
Common
Co.)
&
Mills
(Flomenhaft,
.Common
Co.,
shares
..Common
Co.)
Co.)
Instrument
/
$50,000,000
(Netherlands Securities Co.,
Y-
$5,000,000/'
Spiral Metal Co., Inc._..__——
-
A
$8,000,000
•Stokely-Van
150,000
Co.)
&
Rossman &
D.
>(S.
Pyramid
shares
D.
First
i'.„.
;
...v
Inc..
Electronics
-Jt
....Common
S.
v
Common
Bruce
Rolling
Precision
$325,000
and
;
;-.rCommon
(Lehman Brothers and J. Barth & Co.)
s
..Class
Industries, Inc
Webber, Jackson & Curtis
L.
(A.
/
;
/
&
$300,000
Power Industrial Products Co
$600,000
jRodetsky, Walker & Co., Inc. and Boenning
Sheraton Corp. of America..
(Paine,
Orion
Common
E.
&
(Drexel
:_.__Capital
$650,000
&
Hart
Weld
Optical,
National
.Common
and
Inc....
Co.;
•S. M. S. Instruments. Inc....,....:
Shenk
:
$600,000
Bonds
EST)
a.m.
Fuller
D.
(Sutro
Corp._..__4.^__._.___i.-_._B.Common
(Milton D.
Recco, Inc. ——
:i
v
.
,
>;
(Midland Securities Co., Inc.) 75,000
Rubber & Fibre Chemical Corp
(Armstrong
J
$825,000
Exccu:ive
Moore & Co.)
(Stan-Bee
Corp.): $150,000
Chemical Corp,....^.........
I
V "? (Scott, Harvey & Co,,- Inc.) $450,000
Orlando Paper Corp......
i
•//''"'v../;;'V:/./■' Roberts &
Fields
$255,000
Miss Elliette, Inc..s/i^./.L^w^//.^Common;
..Capital
Co.,
A,
(Richard
(F.
Co.)
&
(Monday)
'(I. R.
Plan, Inc._-_._.^—....^.Common
(White,
.l._i__.Class A
I.
Nigeria
.
/
Jackson
Bowling Lanes, Inc
•(Edward
Plastics
,V;
.
■
Common
Co.,
and
Co.)
Honig's-Parkway, Inc.
$718,750
Components, Inc.
M.
$721,000
Common
Securities
Dickson
S.
Record
.Common
Irwin & Co.,
Milgray Electronics, Inc..
,(T.
>
$700,000
Enterprises, Inc
-
Filon
:
Common
underwriting)
Delford
Common
(Bache
^
.^...Common
Alstyne, Koel^&* Co.) ^200,000 Shares.^
;(No
Coast
(N.
Family
11
Co., Inc.
(Godfrey,
_.._Common
,
Happy House,
•>
/
shares
(Tuesday)
Electronics
(Roth &
shares
Concord Products, Inc.
Commm
150,000
Carmer Industries, Inc
■
$1,100,000
Corp..
230,000
Brentwood Financial Corp,
■V.l,'V../-:': (Hayden, Stone & Co.)
Carolinas Capital Corp....
Yv. YY
First Hartford Realty Corp.-.^v-!-L
//■"
\ ;(Pu'nam & Co.) 530.000 shares
:
Co.)
&
Industries, Inc
Corp
v(R.
Co.)
&
Y._
(S.
Bridge
$300,000
Common ^
Stearns
V..(Raymond
Common
,Equitable Credit & Discount COv/^kSi/ii-i^^Units
Door
Common
Karaslk
Power '
(Arthurs,
Common
*
inc.)
(Raymond Moore & Co.)
(Pacific
7'YY;
$3,000,000
Toy, Inc._
Co
-
Berry
$10,000,000
Bacharach Industrial Instrument Co
Berne of California, Inc
Developers Small Business Investment Corp..Com,
vV
Dynamic
(Frank
.
Common
y;vY'-y./■■ •/;
Inc.)
Estabrook
American Bolt & Screw Mfg. Corp
/
Austin Continental
Columbus Plastic Products, Inc..^—7—_Common
VY'YtfY-
Manufacturing
;
;
.
Common
February 26
shares
(Tuesday)
Arwood Corp.
■YY>7;'.v■'= Y
$750,000
Duke
.Common
170,000
(Albion Securities Co:,
Common ?
Co.,
and
Corp.
Y
Alsori
&
Corp.
Co.
Februarys 20
^Bonds
'
'
j
Weld & Co.)
(White,
$600,000
-
(Thursday),
February 13
Common
Linburn
Becker
G.
Noyes &
Technibilt
YY Y:
$1,725,000
Corp
Craig-Hallum,
and
shares
00*
$10,500,000
(John) Mfg. Co., Inc
^
Common
Citizens Life Insurance Co. of New X ork
.
Fluke
"
Acceptance Corp. of Delaware
.
February B
—.Common
-
EST)
a.m.
36
page
Realty Trust of Philadelphia—Ben. Int.
(Wednesday)
11
on
Common
Webber, Jackson & Curtis
Kinnard, Inc.) 150,000
(Hemphill,
$9,000,000
Continued
Midwest Capital Corp
Pneumo Dynamics
,
Debentures
EST)
a.m.
v'./
(Bids
Common
Corp.)
underwriting)
(Reiner.
11
(Bids'
Inc. ) $300,000
Devices, Inc.—
(Naftalin
Burton
& Co.,
*
Securities
All-State Auto Rental Corp
1.
First
Franklin
Electric Co
Common
Al-Crete Corp.
(Whitehall
y/.7; :V/y;\U'; :7/7/yy
$300,000
Co
Price—
warrant.
one
Hampstead Investing Corp., Aetna Securities Corp., and
Atlas Securities Corp., N. Y.
£*/> f r* rf f
Cellophane Corp
(Havener Securities
t
(Paine,
.
share and
one
$3.25 per unit. Business—Manufactures educational toys.
Proceeds—To repay debt and increase working capital.
Office—794 Union St., Brooklyn, N. Y. Underwriters—
$10,000,000
February 7
'February' 5
offered in units of
Common
(Tuesday)
Elizabethtown
300.000 shares
Ltd
(Burnham & Co.)
ABC
warrants to
c
(A.
$300,000
.Common
**
Toy Corp.
filed 100,000 capital shares (with attached
purchase an additional 100,000 shares), to be
Class A
Co.. Inc. and
(Standard
(H.)
Nov. 27, 1961
Common
„(Ehrlich, Irwin & Co., Inc.)
.
gen¬
Y7.7y,'7
(1/16)
Christen sen, Inc., Denver; Midland Securities
Co., Inc., Kansas City, Mo.; and Dempsey-Tegeler & Co.,
150,000 shares
Wulpa Parking Systems, Inc
.
and
Inc.
Writer &
—
World
$300,000
1
,
'•
.
Voron Electronics Corp
(John
ness
Capital
Fricke
;
29, 1961 ("Reg. A") 60,000 common. Price
$5.
Business—Operation of a membership department store.
-Proceeds—For working capital. Office—11000 E.'-Kel-.7
logg St., Wichita, Kan. Underwriters—Quinn & Co., Al-.buquerque; A. G. Edwards & Sons, St. Louis; Peters,
Cybernetic Systems Corp.
(Laren Co.)
(Woodcock,
-
Dash,
Nov.
Dec. 5,
of.
("Reg. A") 10,000 common. Price—$14.75.
Business—The sale of punch card type
voting machines.
Office—830 High St.,
Hamilton, O. Underwriter—John
A. Kemper & Co., Lima, O.
'
'
"
Specialties Co
Underwriter—Morgan
decorative
,
Aug. 31, 1961
Vitamin
&
Proceeds
Office—945
r'
Inc.
1961 filed 100,000 class A shares. Price—$4. Busi¬
Company plans to operate a service to furnish
phonograph records. Proceeds—For the repayment of
| advice, assistance and skill in the field of data process¬
debt, and working capital. Office—315 W. 47th St., N. Y.
ing. Proceeds—For general corporate purposes. Office
Underwriter—Amos Treat & Co., N. Y.
•—71 W. 23rd
St., N. Y. Underwriter—Jay W. Kaufmann
& Co., N. Y.
•
Coyle's Voting Machine Co. (1/29-2/2)
distribution
Continued from page 34
equipment.
working capital.
Inc.
Oct. 25, 1961 filed 108,000 common. Price—$5. Business
—Designing, converting, importing and distributing of
Herbert Young & Co., Inc., N. Y.
—
Metai
of debt and other corporate purposes.
ment
rooms.
which 105,556 shares are to be offered for
public Sale by
the company and 44,444
outstanding shares by the. pres¬
ent holders thereof.
Price—To be supplied by amend¬
and
electronic
fabrics.
Proceeds—For debt repayment and
general corporate purposes. Office—2445 N. Miami Ave.,
Price—$4. Business V Miami, Fla.';
Underwriter—Stirling," Linder 1 & Prigal,
U.—Manufacture of * metal components
ahd
electronic!
yInc., 50 Broadway, N. Y.
;
yy: ■/ 7'
hardware to precise tolerances.
y,
YX".5.*?;
^
Proceeds—For repay¬
ton, Calif. Underwriters—Dt E/Liederman & Co., Inc.
N.; Y. and Mitchum, Jones- •'& Templeton, Los Angeles."
Cosssat Record "Cistriibiitong
Corp. :(2/5-9) Y;7
May 26, 1.961 filed 150,000 shares of common stock, of
manufacture
covering
California St., Ontario, Calif.
Co., Los Angeles.
&
•
Y7
Proceeds—To repay loans, purchase
machinery, and in*
crease working capital. Office—1111 E. Ash
Ave., Fuller-
ment. / Business—The
manuals
-Nov. 20, 1961 filed 100,000 common.
Price—$2. Business
common.
sale
systems for
Inc.
1961 filed 80,000 common. Price—$3.75. Busi¬
Manufactures plastic jewelry, dress accessories
—-
■
Corrjgan"Communications,"Inc.''-(1/22-28)'/."
Sept. 28, 1961 filed 375,000
Industries,
ing expenses
N...Y. Underwriter
r
—Development
Data-Design Laboratories, Inc.
9, 1961 filed 100,000 capital shares.
Price—By
amendment.
Business—Publishing of technical reports
Oct.
I
product development, mov¬
and working capital. Office—37 E. 18th St.,
Office—39
Co.
advertising and
Canyon Ave¬
Coldwater
and novelties. Proceeds—For
and
company.
&
10,
ness
Price
common.
investment
corporate purposes. Office—1790 B'way, N. Y. Un¬
derwriter—Theodore Arrin & Co., Inc., N. Y.
—For debt repayment and
Cryplex
\
*
improvements,
Office—7451
35
eral
nue, North Hollywood, Calif. Underwriter—Pacific Coast
"'Securities Co., San Francisco.
general corporate purposes. Office—5642-50 N. Western
Ave., Chicago, Underwriter—Kenneth Kass, N. Y.
leasehold
working capital.
copy
etc.
(199)
:
Government Employees
(Offering to stockholders,
Corp.--—--—Debentures
no
underwriting) $2,675,000
'
36
The Commercial and
(230)
Financial Chronicle
.
11, 1962
Thursday, January
.'.
•>
Continued from page
35
•
;
•
Decorel Corp.
Dec.
120,000
filed
1961
29,
common,
of wh'ich
90,000
by the public and 30,000 by a stock¬
amendment. Business—Production and
sale of wood and metal framed pictures, wood utility
be offered
to
are
holder. Price—By
frames,
etc.
and working
lein, 111.
Proceeds—For debt repayment, inventory,
capital. Office—444 Courtland St., Munde-
Underwriter—Clayton Securities Corp., Boston,
Mass.
'
Deer
(1/22-26)
Baking Co.
Park
27, 1961 filed 90,000 common, of which 10,000 shares
are to be offered by the company and 80,000 shares by
stockholders.
Price—$6.75.
Business—Manufacture of
Oct.
Danish-style and ice-box cookies. Proceeds—For work¬
ing capital and general corporate purposes.
Office—
South Egg Harbor Rd., Hammonton, N. J. Underwriter
—J. R. Williston & Beane, N. Y.
•
Delaware Barrel & Drum Co.,
Inc.
(1/16-17)
sept. 26, 1961 filed 100,000 common. Price—By amend¬
ment. Business—Manufacture of plastic shipping con¬
tainers and tanks. Proceeds—For research and develop¬
and other corporate purposes. Office—Eden Park
ment
Gardens, Wilmington, Del.
&
Underwriter—G. H. Walker
Co., N. Y.
(2/26-3/2)
Oelford Industries, Inc.
•
Sept. 28, 1961 filed 95,000 common. Price—$3.50. Busi¬
ness—Manufacture of precision rubber extrusions. Pro¬
ceeds—Plant expansion, equipment, debt repayment and
working capital. Office—82-88 Washington St., Middletown,
N. Y. Underwriter—I. R. E. Investors Corp.,
Levittown, N. Y.
Delta
J Oct. 3, 1961 filed 1,600,000 capital shares, of which 1,200,000 shares are to be offered by the company and
400,000 shares by stockholders. Price—50c. Business—
The
Price —By
1961 filed 500,000 common shares.
amendment.
Business — A small business
&
Don
Mills, Inc.
27, 1961 ("Reg. A") 60,000 common.
Price—$5.
Business—Financing of shipments of business machines.
Proceeds—General
corporate
purposes.
Office—Red
Sept.
Rock
investment
Proceeds—For investment. Office—610 Na¬
tional Bank of Commerce Building, New Orleans. Un¬
derwriters—Blair & Co., New York and Howard, Weil,
Labouisse, Friedrichs & Co., New Orleans (managing).
Offering—Expected sometime in March.
Delta Venture
Capital Corp.
July 13, 1961 filed 520,000 common shares. Price—$3.30.
Business—An investment company. Office—1011 N. Hill
St., Hopkins, Minn. Underwriter—None.
(1/15-19)
60,000 common. Price —.$5.
Business
Construction and financing vof shell homes.
Proceeds—For working capital. Address—Allgndale, S. C.
DeLuxe Homes, Inc.
("Reg. A")
1961
—
Underwriter—Alessandrini
&
Coy Inc., N. Y^)f
Dennis Real Estate Investment Trust
July 24, 1961 filed 100,000 shares of beneficial interest.
Price—$100. Business—A real estate investment com¬
pany.
Office—90 State Street, Albany, N. Y. Under¬
writer—None.
•
Dougkerfy Brothers Co.
Oct.
Sept. 28, 1961 filed 140,000 common with attached war¬
rants to purchase
an additional
140,000 shares to be
offered for subscription by stockholders in units (of one
share and one warrant) on the basis of 3 units for each
5% preferred share held, 2 units for each 5%
A stock held and one unit for each 10 class
preferred
B
shares
Price—$20 per unit. Business—Company plans to
manufacture and utilize all kinds of chemical materials.
held.
small
plant.
start-up
for a laboratory- and
Lexington Ave., New York.
expenses
Office—360
Underwriter—None.
Dover Construction Co.
Dec.
21,
$750,000
filed
1961
(2/5-9)
general corporate purposes. Office—214 Engle St., Englewood, N. J. Underwriters—Lieberbaum & Co. and Mor¬
was
&
Co.,
N. Y. Note—This
company
formerly
named Diversified Small Business Investment Corp.
Dialight Corp.
engineered indicator lights for aircraft, missile and elec¬
tronic instruments.
Proceeds—For selling stockholders.
Ave., Brooklyn, N. Y.
—Burnham & Co., N. Y.
District Photo,
Inc.
/
N.
Y.
29, 1961 filed 100,000 common. Price—$2.50. Busi¬
ness^—Manufacture of food service equipment. Proceeds
—For development and
working capital. Office—-79 Wal¬
St., Brooklyn, Underwriters
Paul Eisenberg Co., Inc., N. Y.
worth
Duralite Co.,
Collateral
Inc.
filed 128,000 common. Price—$4. Business
—Design and manufacture of aluminum-frame outdoor
and porch furniture. Proceeds — For product develop¬
ment, equipment and working capital. Office—2 Barbour
AVe., Passaic, N. J. Underwriter—Preiss, Cinder & Hoff¬
man Inc., • N.. Y,-'^Duro Pen Co., Inc.
'
Jan. 5, 1962 filed 125,000 common. Price—$4. Business
—Manufacture of inexpensive ball point pens. Proceeds
(2/5-9)
81,000 common. Price
June 30, 1961 ("Reg. A")
Business—Manufacture of
working
Y. Under¬
EMAC Data
InvActftrc
Inr
10,000 common shares and $625,000
subord. debentures due 1972. Price—For
stock, $2.50: For debentures, at par. Business—A hold¬
ing company for small loan and credit accident insurance
subsidiaries... Proceeds—For investment in- a subsidiary
of
27,
6Va%
1961
filed
con.
working eapital. Office—147 Northeast Main St.,
Rocky Mount, N. C. Underwriter—Arnold Malkan & Co.,
Inc., N. Y.
.
<
•<
and
Eastern
Properties
Improvement Corp.
Donald
Jan.
v
Sept.'28, 1961 filed 144,000 common." Price--$5. Busi¬
ness—Manufacture of tables and chairs for use in
kitchens and dinettes.' Proceeds—For selling stockholder
ers.
Office—Dabney Rd., Richmond. Va. UnderwriterRubin, Rennert & Co., Inc., N. Y. Offering—Imminent.
Developments,
Educational
Inc.
shares and $150,convertible debentures to be offered
3, 1962 ("Reg. A") 50,000 common
000 of 5%—5 year
$1,500 convertible
unit. Business—Production
of electronic teaching machine. Proceeds—For working
capital. Office—1033 Soo Line Bldg., Minneapolis, Minn.
in
of
units
debentures.
500
shares and
common,
Price—$2,O0ti
per
Underwriter—None.
Instrument Corp.
ESectro-Mec
Sept. 15, 1961 filed 176,480 commoft. Price—$6. Business
—The design, manufacture and sale of potentiometers,
airborne comput¬
Wal33rd
St., Long Island City, N. Y. Underwriter—Sterling. Grace
& Co., N. Y. Note — This registration was indefinitely
ing devices. Proceeds—For the selling stockholder,
tham Precision Instrument Co., Inc. Office—47-51
postponed.
Electro-Tec Corp.
July 28, 1961 filed 91,000 common shares (par 10 cents).
Price—By amendment. Business—The manufacture of
switching devices,
relays, and precious metal products. Proceeds—For the
selling stockholders. Office — 10 Romanelli Ave., South
Hackensack, N. J. Underwriter—Harriman Ripley & Co.,
(mgr.). Offering—Expected in February.
Inc., N. Y.
Electromagnetics Corp.
Nov. 17, 1961 filed 75,000 common. Price—$5. Business
—Design and manufacture of precision nuclear magnetic
instrumentation. Proceeds—For general corporate pur¬
poses. Office—Sawyer Lane,
—Gianis & Co., Inc., N. Y.
Electronic
Hudson, Mass. Underwriter
Controls, Inc.
1961 filed 100,000 common. Price—$3. Business
—Design and manufacture of automatic .electronic,.and
computer
controlled
drives
and
systems,
helicopter
Nov. 29,
working capital and other corporate purOffice—67 Southfield Ave., Stamford, Conn. Un¬
derwriter
Seymour. Eernard & DeBoff, Inc., N - Y.
Offering—Expected sometimb in March.
posse.
•
tures, $1,000; for stock, $10. Business—General real es¬
Proceeds—For the acquisition and development of
repayment of debt and engineering, etc.
Underwriter—Wood¬
Philadelphia.
Inc.'</;' y1961 filed 1,000,000 common. Price—$3. -Busi¬
cock, Moyer, Fricke & French, Inc.,
Econ-O-Pay,
Oct.
26,
ness—A
General
dealer
recourse
corporate
Valley City, N. D.
Valley City, N. D.
finance business.
29,
1961
Business—Sale
Proceeds
Office—164 E. Main St., v
Underwriter—Reserve Funds, Inc.,
purposes.
("Reg. A") 100,000 common. Price—$3.
and servicing of home food freezers and
sale of bulk food to freezer owners. Proceeds—For
/
gen¬
Office—180 Babylon Turnpike,
Roosevelt, L. I., N. Y. Underwriter—Sentinel
Planning Corp., Long Island City, N. Y./
("Reg.
1961
27,
Business
—
A")
Manufacture,
and
other
corporate
Corp.
100,000 common.
design and field
Price—$3.
testing
of
Proceeds—For debt repayment
Hawthorne
Office—103
purposes.
Ave.,'Valley Stream, N. Y. Underwriters—V. S. Wickett & Co., Inc. and Thomas, Williams & Lee, Inc., N. Y.
Offering—Expected in late March.
(1/22-26)
EiecirosoSids Corp.
Oct. 30, 1961 filed 100,000 cum. conv.
preference shares.
Price—By amendment. Business—Production of devices
converting AC-DC current for aircraft, missiles and
for
— Debt
repayment and other corporate
Office—12740 San Fernando Rd., N., Sylmar,
Calif. Underwriter—J. R. Williston & Beane, N. Y"/ T
ships. Proceeds
purposes.
Elizabethtown
(2/6)
Water Co.
of debentures due 1S92.
Proceeds—For debt repayment. Office—22 West Jersey
Dec.
21,
filed
1961
$9,000,000
St., Elizabeth, N. J. Underwriters—(Competitive). Prpbson
New York.
Transmission
Electronic
Oct.
able bidders: W. C. LangJey & Co.-Paine, Webber, Jack¬
(1/29-2/2)
;////
expansion. Office—707 Northwestern Federal Bldg., Min¬
neapolis! Underwriter—Bratter & Co., Inc., Minneapolis.
&
Electro
.
Aug. 22, 1961 filed $1,500,000 of subordinated debenture?
due 1981 and 250,000 common shares. Price—For deben¬
be
Acceptance Corp.
Dec. 13, 1961 filed 125,000 common. Price—$4.50. Busi¬
ness—A small loan investment company. Proceeds—For
N. High St.,
closed-circuit television.
Processing Corp. (1 /15-19)
Sept. 8, 1961 filed 100,000 common. Price—$2.50. Busi¬
ness—The company conducts an electronic data process¬
ing service. Proceeds—Rental of additional data process¬
ing equipment, sales promotion, salaries, rent, furniture
and working capital. Office—46-36 53rd Ave.; Maspeth,
N. Y. Underwriter—M. W. Janis Co.,, Inc., N. Y. »
•
Diversified Discount &
Proceeds—Advertising,
toys.
capital. Address—109 Ainslie St., Brooklyn, N.
writer
Hancock Securities Corp., N. Y,
eral corporate purposes.
•
$3.
Economy Food Enterprises Corp.
named.
corporate purposes. Office
-Columbus, Ohio. Underwriter—Mc¬
Co., Cleveland.
"
Proceeds—For general
—
—
development of new products, expansion and
coln
Inc.
ment. Business—An
repayment,
Office—10 E. 40th St.,
To
30, 1961 filed 174,900 common. Price—By amend¬
holding company for insurance con¬
Nov.
check-out, flight control and landing control systems and
multi-contact relays and switches. Proceeds—For debt
equpiment and working capital.
N. Y. Underwriter — Godfrey,
Hamilton, Taylor & Co., N. Y.
Broadway,
real properties,
—
,
Office—573
Corp.
Underwriter
.
—For debt repayment,
Nov.
Dixie Dinettes,
Carroll Co. and
Nov. 29, 1961
Dec. 28, 1961 filed 78,000 common. Price — By amend¬
ment. Business—A mortgage investment company. Pro¬
ceeds—For general corporate purposes. Office—420 Lin¬
Beach, Fla.
—
'
/
slip rings and brush block assemblies,
Food Equipment Corp.
Dunhill
■
Educator & Executive Co.
digitometers and goniometers used in
Dec.
(1/29-2/2)
prints
photographic
film
and
distributes
wholesale
photographic equipment. Proceeds—For repayment of
debt, plant expansion, and working capital. Office—3306
Wisconsin Ave., N. W., Washington, D. C. Underwriter
—Auchincloss, Parker & Redpath, Washington, D. C.
•
Wright, Myers & Bessell, Inc.
Weld
Feb.
Securities
Economy Water Conditioners of Canada Ltd. ^
Nov. 21, 1961
("Reg. A") 100,000 common. Price—$3.
Business—Sale of water conditioning units to home ownr
(jointly); Salomon Brothers & HutzlerDillon, Union Securities & Co. (jointly); White,
Co.; Halsey, Stuart & Co. Inc. Bids—Expected
Curtis
&
Eastman
&
6.
(11
EBIhgi*
tate.
16, 1961 filed 100,000 common, of which 80,000 are
to be offered by the company and 20,000 by a stock¬
holder. Price—By amendment. Business—Processes and
Road, Miami
By
Underwriters—(Competitive).
Inc.; First Boston
Corp.; Stone & Webster Securities Corp.; Morgan Stan¬
ley & Co. Bids—Expected Feb. 20 (11 a.m. EST).
Rockefeller Plaza,
Underwriter
.,/
Nov.
Diversified
—-
^ Duke Power Co. (2/20)
Jan.
5, 1962 filed $50,000,000 of first and refunding
mortgage bonds due 1992. Proceeds—For construction.
Offices—422 So. Church St., Charlotte, N. C., and 30
22, 1961 filed 367,000 common. Price—By amend¬
ment.
Business—Design and manufacture of precision-
Stewart
Price
rill, Turben & Co., Inc., Cleveland.
Dec.
Office—60
subordinated
and sale of homes.
Proceeds — For debt repayment and working capital.
Office—2120 Green Rd., Cleveland. Underwriter—Mer¬
Dec.
Price—$5. Business
small business investment company. Proceeds—For
Cohon
notions. Proceeds—
For equipment, inventories and working capital. Office
—1125 Okie St., N. E., Washington, D. C. Underwriter-
amendment. Business—-Construction
PnctAi*n
Sept. 27, 1961 filed 600,000 common.
ris
convertible
debentures due 1972, and 100,000 common.
Developers Small Business Investment Corp.
—A
Price—By amend¬
Price—$5. Business
26, 1961 filed 100,000 common.
—Sale of school suppliesj toys and
—3857
medicine droppers and
components and glass cartridges for the pharmaceutical
industry. Proceeds — For debt repayment and general
corporate purposes. Address—Buena, N. J. Underwriters
—Suplee, Yeatman, Mosley Co., Inc., Philadelphia.
&
Inc.
Co.,
Aids
Educational
Dec.
cerns.
(1/22-26)
24, 1961 filed 120,000 common.
.Y.
ment. Business—Manufacture of
Dynamic Toy, Inc.
Deuterium Corp.
Proceeds—For
Underwriter—Stan-Bee & Co.,/
Bldg., Atlanta, Ga.
Washington, D. C. Offering—Expected in February.
company.
11,
St., W., Toronto, Canada. Underwriter—Brewis
White Ltd., Toronto.
I
/;
/yCv/;,;!
Adelaide
Ave.,' Flushing, N. Y. Underwriters—Packer-Wilbur
Co., Inc. (mgr.). and Earle Securities Co., Inc., N
Probable bidders: Halsey, Stuart & Co.
Capital Corp.
Aug. 9,
Dec.
exploration and production of ores. Proceeds—For
and general corporate purposes. Office — 25
salaries
136-05 35th
Office
corporate purposes.
ment and other
develop¬
product
Proceeds—For
machines.
teaching
Dolphin-Miller Mines Ltd.
•
a.m.
EST).
Piik©
fit
..
..
-V
.
ItiCa
Dec.
27, 1961 ("Reg. A") 30,000 common. Price—$10
Business—Operation of supermarkets. Proceeds—For ex¬
pansion and working capital. Office—896 Old Country
Rd., Westbury, N. Y. Underwriter—Meadowbrook Se¬
/y/.
curities, Inc., Hempstead, N. Y.
V:
Electronics
Elmar
Sept.
will be sold
(1/15-19)
/
200,000 common, of which 100,000
by the company and 100,000 by stockholders.
1961
29,
Inc.
filed
Price—By amendment. Business—Distribution of elec¬
tronic parts and equipment. Proceeds—Debt repayment,
expansion and working capital. Office—140 Eleventh St.,
Oakland, Calif. Underwriter—Schwabacher & Co., San
//
Francisco.
El
Dec.
due
Paso
28,
Electric Co.
1961
filed
.
(2/7) r<//
$10,500,000 of first mortgage bonds
1992.: Proceeds—To
refund
$3,500,000
of the
com¬
pany's outstanding 5%%; bonds due 1989,-. and for con¬
struction. Office—215 North Stanton St., El Paso, Tex.
Underwriters^-(Competitive),. Probable bidders: Stone
distributorships and - & Webster Securities Corp.; Merrill Lynch, Pierce, Fenexpansion. Office—36 ■ Densley Ave., Toronto. Under-r, ner &r Smith, - Inc.; Halsey,. Stuart & Co., Inc.; Kidder,writer—S. I* Em-rich Associates, Iney N. Y. i ,;v- ir'py ^
Peabody & Co/ Inc.:—White, Weld & Co.—Shields & Co..s
(jointly) '/Equitahle Securities; Corp.—R; W/ Pressprich
Edu-tronics, -Inc..
&• Co. (jointly). Bids—Expected Feb. 7-.(.11- a.m. .EST)
Oct, 27,-1961 filed 80,000 .common.- Price—$4, Business
at 90 Broad St. (19th floor), NT Y/Information Meeting—Distribution of electronic parts and equipment.. Com¬
Scheduled for Feb, 2 (11 a.m.) at 90 Broad St., N. Y.
pany
also plans to manufacture and sell electronic
ers.
Proceeds—Rental of units, new
.
>
195u Number 6124
Volume
.
.
.
•
&
Plastics
Fields
Fund, Inc. (1/15-19)
*
filed 1,250,UUU snares of capital stock to ber.
offered in exchange for blocks of designated securities.
Business—A "centehnial-type" fund which plans to offer
a tax free exchange of its shares for blocks of corporate
securities having a market value of $20,000 or more.
Office—44 School Street, Boston, Mass.
Underwriter—;,
Empire
(201)
Inc.
Chemicals,
Food Corp.
(2/26-3/2)
di
•
Fifth
Avenue
Cards, Inc.
Co., Inc., Chicago,
Price—$2.50.. Business
acquisition of enterprises engaged in the food
processing industry. Proceeds—For repayment of debt
and working capital. Office—1207 Foshay Tower, Min¬
neapolis, Minn. Underwriter—None.
(1/22-26)
Price
Folz Vending Co., Inc.
(1/15-19)
Sept. 26, 1961 filed 55,000 common. Price—$6. Business
amendment. Business—Operation of a chain of
retail greeting card stores.
Proceeds—Debt repayment,
working capital and expansion. .Office—18 W. 34th St.,
N. Y. Underwriters—Hardy & Co. and Filor, Bullard &
—By
Empire Precision Components,
Inc.
(1/15-19)
—The distribution of
repay loans, purchase ma- >
chines, and increase working capital. Office—990 Long
Beach Rd., Oceanside, N. Y. Underwriter—None.
Forrest Electronics
Corp.
A") 130,000 common. Price—$2.
Business—Research, design, manufacture, sale and dis¬
tribution of precision electronic and mechanical com¬
ponents. Proceeds—For debt repayment, equipment and
Dec.
.
holders.
Corp. Y1/22-26
Eon
improvements
leasehold
("Reg.
Proceeds—For expansion and working capital.
general corporate purposes.
Office — 425 Las Vegas
North Van Ness Ave., Hawthorne,
Blvd., S.,
Calif.
Las
Vegas,
Nev,; Underwriter—Elmer K.
Underwriter—White, Weld & Co., N. Y.
- £
! Y Y : Y Aagaard, Salt Lake City.
YyY'Y
;'/' ■'
Y
Office—333
Office—Y
H. Rothchild
First Hartford
Oct.
(2/5-9) !'YyY
' *
common! Price—By amend¬
Franklin
Realty Corp.
1961 filed 500,000
30,
Business—Real
ment.
Co. (2/5-9)
6V2% jr. subord. conv.
Equitable Credit & Discount
.Oct; 27, 1961 filed $1,000,000 of
debentures due 1977 and 50,000
1961
21,
purposes.
and working capital.
St., Brooklyn. Underwriter—L.
N. Y.
Pearl
175
& Co.,
Priee—By amendment. Business—Manufactures
panels for building and decorative
translucent fiberglas
2, 1961 filed-133,333 common. Price—By amend¬
ment. Business—Manufacture 6f equipment for radiation
detection and measurements. Proceeds—For equipment,
Oct.
novelties, candy, etc. through vend¬
ing machines. Proceeds—To
100,000 class A. Price—$2.60.
Business—Manufacture of metal components parts for
Smyth, N. Y. YY Y
precision electronic connectors. Proceeds—For moving
Filon Plastics Corp. (2/13-17) yy
expenses, a new plant, equipment,-repayment of loans
and working capital. Office—574 President St., Brook¬
Dec. 4, 1961 filed 200,000 common, of which 50,000 are
lyn, N. Y. Underwriter—Ezra Kureen Co., N. Y. /y^YYY to be offered by the company and 150,000;-by stock¬
("Reg. A")
1961
Aug. 29,
of America
—The
Ave., Lodi, N. J. Underwriter—Sutro Bros. & Co., N. Y.
Sept. 28, 1961 filed 115,000 class A capital shares.
37
Oct. 5, 1961 filed 50,000 common.
29, 1961 filed 220,000 common. Price—By amend- '
ment. Business—Manufacture of vinyl plastic sheeting.
Proceeds—For selling stockholders. Office—199 Garibal¬
Nov.
June 28, 1961
A. G. Becker &
Chronicle
The Commercial and Financial
investment.
estate
Proceeds—For
acquisitions, debt repayment and other corporate purposes. Office—380-390 W. Middle Turnpike,
Manchester. Conn. Underwriter—Putnam & Co;, Hart<*
property
shares to be
offered in units consisting of $500 of debentures and 25
shares.
Price—$550 per unit.
Business—Lending and
insurance.' Proceeds—For wprkingNfapital. Office—674
N. Broad St., Philadelphia. Underwriter—Paul C. Kim¬
common
Yy
ford.
Capital
•
.
22,
driers, Proceeds—For a selling stockholder. Office—6522nd Ave., N. E., Minneapolis. Underwriter — Lehman
''Y.'YYY-y'YYY" Y YtY'Y''- YY
:Y
;
Midwest
First
Manufacturing Co.
1961 filed 349,590 common. Price—By amend¬
ment. Business—Design, manufacture and sale of house¬
hold
freezers, refrigerators, automatic
washers and
Dec.
Brothers, N. Y. Offering—In late February.
•
(2/19-23) !
Sept. 28, 1961 filed 150,000 common. Price—By amend¬
Corp.
Franklin Realty Trust
<
-y
(2/19-21)
Proceeds—General
ball
Co., Chicago.
&
Nicollet Ave.,
tures
29, 1961 filed $3,000,000 of 8% subordinate deben¬
due 1965. Price—At par. Business—The investment
nard, Inc.. Minneaoolis.
and the making of construction loans to
property -owners.: Proceeds—For repay¬
ment of debt and working capital. Office—430 First Ave.
in
mortgages
First New York
and :
builders
North, Minneapolis.
Extrin
Oct.
Underwriter—None.
industries. Proceeds—For addi¬
persbnnel, new products and possible acquisitions.
confectionary
and
Office—70 Barclay
&
St., N. Y. Underwriters—Hay, Fales
Co., and McLaughlin, Kaufman & Co., N. Y.
Offering
—Expected sometime in March.
'
•—
Underwriter—First Madison Corp., N. Y.
Family Circle Associates, Inc.
(1/15-19)
Aug. 30, 1961 filed 50,000 class A common. Price—$7.
operation of retail discount department
stores. Proceeds—For repayment of loans and working
Business—The
Office—30 Main St., Keyport, N. J;
& Saxe, Inc., N. Y.
Underwriter
—Russell
Family Record Plan, Inc.
W.
&
Blvd., Los Angeles.
amend¬
and al¬
Office—2015
Underwriter—Bache
Co., N. Y.
filed $2,000,000 of 6% convertible sub¬
Price—100% of principal amount.
Business—The company is engaged in the manufacture
and distribution of high reliability materials and basic
electronic components, including dielectric and electro¬
lytic capacitors and precision tungsten wire forms. Pro¬
ceeds—For the payment of debts and for working capital.
Office—471 Cortlandt Street, Belleville, N. J. Under¬
writer—To be named. Note—July 11, the SEC insti¬
tuted "Stop Order" proceedings challenging the accuracy
and adequacy of this statement.
,
30,
1961
ordinated debentures.
.
Fastline Inc.
(1/29-2/2)
publicly in units of one $500 debenture and 50 common.
Price—$575 per unit. Business—Manufacture of con¬
cealed zippers. Proceeds—Debt repayment, advertising
and working capital. Office—8 Washington Place, N. Y.
Underwriter—G. Everett Parks & Co., Inc., N. Y,
Fastpak, Inc.
Nov. 30,
1961 filed 125,000 common. Price—$5. Business
of nuts, bolts and other fastening
manufactured by others. Proceeds—For debt
distribution
devices
and general corporate purposes. Office—8
Place, FreepOrt, N. Y. Underwriter — Arnold
& Co., Inc., N. Y.
repayment
Benson
Malkan
(2/19-21)
Dec. 21, 1961 filed 1,700,000 shares of beneficial interest.
Price—By amendment. Business—A business trust which
plans to qualify as a real estate investment trust; Pro¬
ceeds—For investment.
Office—50 State St., Boston.
Underwriters—Hemphill, Noyes & Co., N. Y. and Paine,
Webber, Jackson & Curtis, Boston.
Federal Mortgage Investors
(1/29)
YY
Oct. 3, 1961 filed 100,000 common. Price—$5. Business
■—Commercial^ finance company.
Proceeds — Gen¬
eral corporate purposes. Office—42 S. 15th St., Phila.
Fidelity America Financial Corp.
Underwriter—Netherlands Securities Co., Inc.,, N.
Y.
Fidelity Mining Investments Ltd.
Nov.
30, 1961 filed 800,000 common. Price—By amend¬
Business—Exploration and testing of mining prop¬
corporate purposes. Office
—62 Richmond St., Toronto. Underwriter—G. V. Kirby
& Associates,-Ltd.,-TorontOi-•Y\Y.YyyY;YY; '.YY
ment.
erties: Proceeds—For general
&
47,000 units, each consisting of $200' of debentures
and.4.class A shares. One right will be issued for each
class A share held, aud 40 rights will be needed to pur
chase one unit. Price—Ey amendment. Business—Gen¬
eral real estate. Proceeds—For debt repayment and other
corporate purposes. Office—375 Fifth Ave., N. Y. Under¬
writers—Morris Cohon & Co. and Lieberbaum & Co.,
N. Y.
YYYYY
Price—$3. Busi¬
common.
Seymour
Price—$3.
cards,
Fleetwood Securities Corp. of America
Aug. 8, 1961 filed 70,000 common shares, of which 56,000
shares are to be offered by the company and 14,000
stockholders. Price—$10. Business—Distribu¬
Investment Corp., Contractual Plans
shares by
of Electronics
tor
and
broker-dealer registered with NASD.
a
Proceeds—
capital and for investment. Office—44
Wall St., N. Y. Underwriter—General Securities Co., Inc.,
increase
net
N. Y. Offering—Imminent.
Inc. ;///
("Reg. A")
27,
1961
Business—Manufacture
of
100,000 common. Price—$3.
one
piece disposable plastic
toothbrushes. Proceeds^-For general corporate purposes.
Miami, Fla. Under¬
writer—Meadowbrook Securities, Inc., Hempstead, N. Y.
Office—7400
Florida
N.
Seventh Ave.,
W.
(1/29-2/2)
Palm-Aire Corp.
1961
19,
and
opment
related
filed
of
sale
undeveloped
Proceeds—For
activities.
and
property
real
debt
repayment and
general corporate purposes. Office — 1790 N. Federal
Highway, Pompano Beach, Fla. Underwriter—Hardy &
Co., N. Y.
Flower
Y';
' Y Y,
YyY/Y-Y
•
City Industries, Inc.
—
Mfg. Co., Inc.
(2/8)
Weld
11,
&
1961
filed
Co., N. Y.
Y>Y
Office—1180 Raymond
Garrett
Corp.
Y
(1/16)
of debentures due Jan. 1,
Business — A supplier of
pressurization and air conditioning equipment for mili¬
tary and commercial aircraft and spacecraft; and the
production of gas turbine engines and other aircraft
equipment. Proceeds—For debt repayment. Office—9851
Sepulveda Blvd., Los Angeles.
Underwriter — Merrill
Lynch, Pierce, Fenner & Smith Inc., N. Y. '
Y
Dec. 21, 1961 filed $20,000,000
1982. Price—By amendment.
Uranium Co.
Hills
Gas
Aug. 29, 1961 filed 847,035 common to be offered for
subscription by stockholders on a l-for-10 basis. Price
—By amendment. Business—The operation of uranium
mines and a mill. Proceeds—For repayment of loans, ac¬
quisitions and working capital. Office—224 Ivinson. St.,
Laramie, Wyo. Underwriter—None. Note—This regis¬
tration may be withdrawn.
y
Y
Gateway Chemicals,
Inc.
1961 filed 100,000 common, of which 50,000 are
to be offered by the company and 50,000 by a stock¬
holder. Price—By amendment. Business—Compounding
Nov. 22,
packaging of chemical products, primarily deter¬
Proceeds—For working capital. Office—8136 S.
Dobson Ave., Chicago. Underwriter—Federman, Stonehill & Co., N. Y. Y :
and
gents.
• v;
29, 1961 filed 200,000 common. Price—By amend¬
making of instalment loans to in¬
Dec.
ment. Business—The
dividuals,
working capital. Office—
etc. Proceeds—For
St., Allentown, Pa. Underwriters—Paine,
Webber, Jackson & Curtis and Eastman Dillon, Union
Securities & Co., N. Y.
1105 Hamilton
General
Corp. of America
7, 1961 filed 266,000 common. Price—By amend¬
ment. Business—A holding company for an insurance
firm. Proceeds—For general corporate purposes. Office
Dec.
Bldg., Cleveland, O.
Co., Inc., Cleveland.
—672 Hanna
Turben &
Glass-Tite Industries, Inc.
Underwriter—Merrill,
Y Y
,
(1/22-26)
filed 185,000 common, of which 135,000
and 50,000 by a stock¬
Price—By amendment. Business—Manufacture
of glass-to-metal hermetic seals.
Proceeds—For pur¬
chase of equipment, investment in a subsidiary, research
Sept. 27,
1961
to be offered by the company
;>•« ; • *
and
development, moving expenses, and
Office—725 Branch Ave.,
.
'
•
-
working capital.
Underwriter
Providence, R. I.
—Hemphill, Noyes & Co., N. Y.
Y
Global Steel Products Corp.
-
170,000 common, of which 135,000
are to be offered by the company and 35,000 by stocksholders. Price—By amendment. Business—Design Yand
manufacture of precision electronic instruments, poten-/
tiometers, and related components. Proceeds—For debtl
repayment and working-capital. Office—7100-220th St.,]
S. W., Mountlake Terrace, Wash. Underwriter—White,
Dec.
Proceeds—For
Blvd., Newark, N. J.
Underwriter—Godfrey, Hamilton, Taylor & Co., N. Y.
are
1961 filed 100,000 common. Price—$3.25. Busi¬
ness.
Design and manufacture of plastic " artificial
foliage and flowers. Proceeds — For general corporate
purposes. Address—St. Thomas, Virgin Islands. Under¬
writer—Seidman & Williams, N. Y.
(John)
Y-' " '";Y y;yY': YyY.
Price—$3. Business
'
•
holder.
Nov. 29,
Fluke
■"
.
463,000 common, of which 310,000
shares are to be offered for subscription by the stock¬
holders on a l-for-3 basis, and 153,000 shares will be
sold to the public. Price—$2. Business—Purchase, devel¬
Oct.
•
General Acceptance Corp.
Flex-I-Brush,
Nov.
Business Investment Co.
Small
yu/isYr-Y'-y
investment.
greeting card
trays, dishes, note paper, etc. Proceeds — For debt re¬
payment and working capital. Office—537 W. 53rd St.,;
N. Y. Underwriter—Amber, Burstein & Co., Inc., N. Y.
greeting
other plastic
of
—A small business investment company.
¬
Co., and Sprayregen, Haft & Co., N. Y.
Cards, Inc. (1/29-2/2)
1961 ("Reg. A") 74,667
molding
custom
Oct. 27, 1961 filed 330,000 common.
(2/26-3/2)
Underwriters—Netherlands Securities Co., Inc.,
State
Garden
patents and new scientific technology. Proceeds—For
general corporate purposes. Office—375 Park Ave., N. Y.
14,
the
Co.A N. Y.
YYY
ness—Company plans to acquire, invest in, and finance;
To
Sept. 28, 1961 filed $400,000 of 6% conv. subord. deben¬
tures due 1971 and 40,000 common shares to be offered
—The
Corp. of America
Business—Manufactures
and
housewares,
in
Nov.
— By amend¬
plastic toys and
Price
products. Proceeds—For general corporate purposes. Ad¬
dress—Leetsdale, Pa. Underwriter—Van Alstyne, Noel
19, 1961 filed $9,400,000 of 6V2% convertible sub¬
ordinated debentures due 1982 and 188,000 class A shares
to be offered for subscription by,,cjassj A < stockholders
Flair
(2/5-9)
Corp.
ment. Business—Manufacture of molded
general
Dec.
Blauner
(Andy)
Dec. 15, 1961 filed 200,000 common.
.
Dec. 6, 1961 filed 200,000 class A stock.
Gard
YY;Y;?YY;;;v;;^:Y
'1
Office—477 Main St., Hackensack,
corporate purposes.
Faradyne Electronics Corp.
Jan.
purposes. Office—8170 Beverly Rd., Los Angeles.
Underwriters—Raymond Moore & Co., Los Angeles and
Co., San Francisco. YyY.Y,Y;
Pacific Coast Securities
„
(2/13-16)
Proceeds—For selling stockholders.
Olympic
*
;
»
-
porate
Y
Proceeds—For
trust.
First Scientific Corp.
Nov. 20, 1961 filed 200,000 common. Price—By
ment. Business—Sale of photographic portraits
bums.
investment
estate
First Republic
Businessequipment.
Proceeds
For debt repayment and general corporate
l^irpos^s.- Office-LWalnut St., M D 23, Newburg, N. Y.
*
(1/15-19)
service. Proceeds—For debt repayment and general cor¬
1962 filed 67,750 common. Price—$10. Business
4,
—Real
Fairbanks Wire Co.r Inc.
capital.
YY.
Jersey
N. J. Underwriter—None.
Oct. 30, 1961 filed 54,000 common. Price—$3.
Manufactures
specialized machinery and
•
New
Jan.
Price—$1.
Pro¬
Northern Blvd.,
company.
Estate Investment Trust of
First Real
,
Office—1295
Airlines
Futura
Underwriter—None.
Manhasset, N. Y.
29, 1961 filed 100,000 common. Price—$3.25. Busi¬
ness—Creation and manufacture of flavors for the bak¬
ing
investment.
ceeds—For
Inc.
Foods,
investment
St., Philadelphia, Pa. Underwriter—A. G. Beck¬
Co., Inc., Chicago.
&
Oct. 20, 1961 ("Reg. A") 60,000 common.
Price — $5.
Business — Furnishing of scheduled air transportation
filed 2,770,000 capital shares.
1961
27,
''<V"
Y.'
'
er
Capital Fund, Inc.
Business—A small business
Nov.
tional
Walnut
;
corporate purposes. Office—512
Minneapolis. Underwriters—Paine, Web¬
ber, Jackson & Curtis, N. Y., and Craig-Hallum, Kin-
Equity Capital Co.
Nov.
Jan. 3, 1962 filed 800,000 shares of beneficial interest.
Price—$12.50 per share. Business—A real estate invest¬
ment trust,Proceeds—For investment. Office — 1616
Business—A small business investment company,
ment.
;
mv:
3,
ment.
toilet
filed 68,000 common. Price—By amend¬
Business—Manufacture of prefabricated metal
1961
compartments.
YY
-
v
repayment and
Office—10014 Avenue D,
— Treibick, Seiden & For¬
Proceeds—Debt
corporate purposes.
Brooklyn, N. Y. Underwriter
syth, N. Y.,
general
1
Continued on page 38
38
The Commercial and Financial
(202)
1961 filed 200,000 common, of which 100,000 are
to be offered by the company and
100,000 by stock¬
holders. Price—By amendment. Business—Manufacture
of miniature electric motors, powdered metal products
and devices for the missile and aircraft industries. Pro¬
ceeds—For debt repayment and working capital. Office
^-1784 Stanley Ave., Dayton, Ohio.
Underwriter—Mc¬
Oct. 30,
Co., Cleveland.
Donald &
.
Co. Ltd.
(Wm.)
GEuckin
Green
Green
Price—$6.
public golf
course and a private country club,
Proceeds—For pur¬
chase of land, construction and general corporate pur¬
poses.
Office—1352 Easton Rd., Warrington, Bucks
County, Pa. Underwriter—Metropolitan Securities, Inc.,
nes
other
and
tal
Price—$6. Business
Office—.1707 H St.,
Washington, D. C. Underwriter—Rouse, Brewer,
Becker & Bryant, Inc., Washington, D. C.
Gould Paper Co.
models.
Proceeds—For equipment, research and devel¬
opment, leasehold improvements, repayment of debt and
working capital. Office—130 Lincoln St., Brighton, Mass.
Proceeds—
Underwriter—L. F. Rothschild & Co., N. Y.
Hill Street Co.
Co., Inc., N. Y. I
Offering—Imminent.
^ Government Employees Corp. (4/6)
Jan. 8, 1962 filed $2,675,000 of 4Y2% conv. capital deben¬
tures due 1977 to be offered for subscription by common
stockholders on the basis of $100 of debentures for each
7 shares held of record Apr. 6 with rights to expire
about Apr. 30. Price—By amendment. Business—Com¬
nia
Casualty Co.
Hillside
Dec.
shares
—For
C. Under¬
Bldg., Washington, D.
Dec.
a textile
agent. Address—Graniteville, S. C. Under¬
writer—Shearson, Hammill & Co., N. Y. Offering—Ex¬
acquisition of McCampbell & Co., Inc.,
Inc.
Honora, Ltd. (2/26-3/2)
29, 1961 ("Reg. A") 76,500 common. Price—$3.75.
Corp.
their
Proceeds—For the operation of a subsidiary,
product development, equipment and other corporate purposes. Office—291 Third Ave., N. Y. Underwriter
—Philips, Rosen and Appel, N. Y.•
Grant
(W.T.)
Dec.
28, 1961 filed $35,000,000 of sinking fund debentures
due
1987.
Price—By amendment. Business—Retail sale
of popular priced merchandise for individuals and the
home. Proceeds-^For general corporate purposes. Office
—1441 Broadway, N. Y. Underwriter—Lehman Brothers,
N.
•
Inc.
Inc.
•
Great
Continental
(1/15-19)
Real
Estate
Investment Trust
Harleysville Life Insurance Co.
nuities. Proceeds—Working capital.
Pa. Underwriter—None.
Real Estate Investment
was
known
as
Lakes Homes, Inc.
26, 1961 filed 93,000 common. Price—By amendment.
rine
"house
"Hyatt Corp.
1961
For
Marine Electronics
Greater
Nov.
14,
Atlanta.
43rd
f
<
y
-
u
Price—$4.
brake control.
Pittsburgh~Capital Corp.
common.
Price—$11. Busi¬
Proceeds—
ness—A small business investment company.
;
Proceeds—For debt repayment
and gen¬
eral corporate purposes.
•
Corp.
N.
Business—Manufacture of ma¬
and electronic equip¬
communications
mobile
St., N. Y.
New York.
Hygiene Industries, Inc.
Y.
Underwriter—Milton
(1/22-26)
D.
Blauner
&
Co., N.
Y.
I. F. C. Collateral
Corp.
Dec. 22, 1961 filed $1,500,000 of 10% registered subordi¬
nated debentures to be offered in five series due 1966 to
1970. Price—At par ($1,000). Business—Purchase and sale
of real estate mortgages. Proceeds—For investment. Of¬
fice—630 Fifth Ave., N. Y. Underwriter—None.
Inc.
Imac Food Systems, Inc.
Nov.
17, 1961 ("Reg. A") 100,000 Common. Price — $3.
Business—Operation of restaurants. Proceeds—For debt
repayment, expansion and working capital. Office—711
Branch Ave., Providence, R. I. Underwriter—Freeman &
Co., Brighton, Mass.
Underwriter—Michael G. Kletz & Co.,
•
•,
20,000 are
stockhold-
Price—By amendment. Business—Publishes "Elec¬
tronic Design," a trade magazine in the electronic field.
ers.
Proceeds—For debt repayment. Office—850-3rd Ave:,
N. Y. Underwriter—Carl M.
Loeb, Rhoades & Co., N. Y»
Offering—Expected sometime in February.
Independent Telephone Corp.
1961 filed 400,000 common. Price—By amend¬
ment, Business—A telephone holding company. Proceeds
—For repayment and advances to subsidiaries. Office—
25-27 South St., Dryden, N. Y. Underwriter—Burnham
& Co., Nr. Y.
;/•<•/;.
r
^ V;9,
Dec. 22,
Hayden Publishing Co., Inc.
Nov. 29, 1961 filed 150,000 common, of which
to be offered by the
company and 130,000 by
,
.
—
Hydra-Loc, Inc. (1/29-2/2)
Oct. 10,
1961 ("Reg. A") 60,000 common.
Price—$2.
Business—Design, development and manufacture of a
of which 100,000 are
100,000 by a selling
stockholder. Price—$5. Business—Distribution of elec¬
tronic components including high fidelity, radio and
television parts and equipment. Proceeds—For working
capital and general corporate purposes. Office—103 W.
Proceeds—For general corporate
Entin Rd., Clifton, N. J. Under¬
1961 filed 250,000
and
Harvey Radio Co.,
+> Greater New York Box Co., Inc^
Dec. 29, 1961 filed 100,000 common. Price—By amend¬
ment ($7 max.). Business—Manufacture of corrugated
Office—149
writer—D. H. Blair & CO/, N. y. ;
350,000 capital shares. Price — $10.
a chain of motor hotels. Proceeus—
repayment and general corporate purposes.
1290 Bayshore Highway, Burlingame, Calif.
Hammill & Co., N. Y.
son,
Oct. 27, 1961 filed 200,000 common,
to be offered by the company and
Price—By amendment.
Business—Real estate invest¬
ment. Proceeds—For general purposes of the Trust. Of¬
purposes.
filed
Underwriters—J. Barth & Co., San Francisco and Shear-
military transmitter-receivers. Proceeds—For
corporate purposes.
Office—30-30 Northern
Blvd., Long Island City, N. Y. Underwriter—Charles
Plohn & Co., N. Y.
'.7/
and containers.
debt
Office
general
Great Southern Real Estate Trust
Nov. 30, 1961 filed 320,000 shdres of beneficial interest.
board
Business
Proceeds—For sell¬
Offie^621 Fourth Ave., San Diego. Underwriter—J. A.
Hpglq & Co., Salt Lake City.
ment and
packages"
houses, and construction of shell homes. Proceeds—For
debt repayment and for working capital. Office—She¬
boygan Falls, Wis. Underwriter—The Milwaukee Co.,
Annex,
(1/29-2/2)
Price—$4.
Sept. 20, 1961 filed 200,000 common. Price—$5. Business
—Manufacturer of shower and window curtains. Pro¬
ceeds—For selling stockholders. Office—261 5th Ave.,
stockholder.
custom-designed, factory built
consisting of basic carpentry for
First National Bank Bldg,
Underwriter—Courts & Co., Atlanta.
Westmore, Inc.
Office—Harleysville,
Business—Manufacture of
fice—200
of
Office—101 Park Ave., Hudson,
N. Y. Underwriter—McLaughlin, Kaufman &
Co., N. Y.
Hartman
Trust.
Milwaukee.
House
(2/26-26)
Oct. 27, 1961 filed 100,000 common, of which 75,000 are
to be offered by the company and 25,000 by a selling
Continental
Great
Dec.
,
s^stei^Sy. Proceeds—For equipment and working capital.
(1/29-2/2)
ment. Office—530 St. Paul Place, Baltimore. Underwriter
Baruch & Co., Inc., Washington,-D. C.
(mgr.).
~^R.
formerly
(1/29-2/2)
Humphrey, Inc.
1961 ("Reg. A") 40,000 Capital shares. Price—
$7150^J'Business—Design and manufacture of precision
m^phents used in missile control and instrumentation
Sept. 21, 1961 filed 40,000 common. Price—$15. Business
—The writing of all types of life insurance and an¬
firm
Inc.
Business—Operates
Aug. 3, 1961 filed 300,000 shares of beneficial interest,
Price—$10. Business—Real estate. Proceeds—For invest¬
Note—This
Service,
Dec. ,21;,
8, 1961 filed 160,000 common. Price—$5. Business
plans to own and operate an amusement
park. Proceeds—For property development, advertising,
and working capital. Office—3100 Tremopt Ave., Cheverly, Md. Underwriter — Switzer & Co., Inc., Silver
Springs, Md.
'
Soil
&fCq*;inc., N. Y.
—Company
land.
and
ing Stockholders. Office—120 E. 16th St., N. Y. Under¬
writers—Brand, Grumet & Seigel, Inc. and Kesselman
Dec.
for each 12 shares held. Price—By amendment.
Business—Operation of a retail drug chain. Proceeds—
For expansion and working capital. Office—2400 Superior
Ave., Cleveland. Underwriter—McDonald & Co., Cleve¬
Hoosier
Oct. 27, 1961 filed 150,000 common.
Sale and distribution of cosmetics.
Hargrove Enterprises, Inc.
tures
Japan
and working capital. Address—
Bluffton, Ind. Underwriter—Patterson Securities & In¬
vestment Co., Inc., Fort Wayne, Ind.
.Price—$1.
gifts, candies and greeting
cards through franchised dealers.
Proceeds—For equip¬
ment, inventory and working capital. Office—11 Tenth
Ave., S., Hopkins, Minn. Underwriter—None.
2, 1962 filed $5,230,000 of 5% convertible subordi¬
nated debentures due 1982, to be offered for subscription
by common stockholders on the basis of $100 of deben¬
in
30,000 to the public. Price—$6.75. Business—Process¬
ing and marketing of fertilizers. Proceeds—For redemp¬
• Happy
House, Inc. (2/5-9)
July 28, 1961 filed 700,000 common shares
Jan.
pearls
tion of preferred stock
Business—The marketing of
• Gray Drug Stores,
cultured
the
and
Offering—Sometime in February.
Y.
of
in
Nov. 28, 1961 ("Reg. A") 41,939 common, of which 1.1,939
are to be offered to preferred and common stO'clthbfders
—
'
(1/22-26)
Co.
■
distribution
U. S. Proceeds—For general
corporate purposes. Office—42 W. 48th St., N. Y. Under¬
writer—Sunshine Securities, Inc., Rego Park, N. Y. v
("Reg. A")
Industries, Inc., ; ■ '
Aug. 11, 1961 (("Reg. A") 100,000 common. Price—$3..
Business — Fabrication of components for missiles, jet
engines, aircraft landing gears and precision machines.
Proceeds
Machinery, research and development and /
working capital. Office—40 Sea Cliff Ave., Glen Cove,
N. Y. Underwriter—Albion Securities Co., Inc., N. Y.
supplies.
Co., Inc., N. Y.
Nov.
Hannett
new
the
New York.
working capital. Office—3501 Cahuega Blvd., Los An¬
geles. Underwriter—Carl M. Loeb, Rhoades & Co., Inc.,
"N. Y.
^v
-v;
Sept. 27, 1961 filed 77,250 common.
stockholders.
Inc.
common,
by
Inc. (2/13-16)
Dec.
1, 1961 ("Reg. A") 100,000 common. Price—$3.
Business—Company owns and operates three discount
stores in the Bronx selling bicycles, electric
trains, toys,
household appliances, etc. Proceeds—For general cor¬
porate purposes.
Office — 2717-25 White Plains Rd.,
Bronx, N. Y. Underwriter—Richard Bruce & Co., Inc.
29, 1961 filed 200,000 capital shares. Price — By
amendment. Business—Production of television cartoons
and commercials. Proceeds — For a new building and
(1/16-19)
Price—$4. Business.
—Manufacture of graphic arts equipment, chemicals and
Industries,
1961
(2/26-3/2)
of which 200,000
company and 106,000
Price—$6. Business—Manufac¬
300,000
offered
Honig's-Parkway,
Dec.
pected in late February.
Grafco
by
Products,
filed
be
to
Business—Purchase
Hanna-Barbara Productions,
commission
•
18,
Metal
Blauner & Co. and M. L. Lee &
150,000 common. Price—$2.
writer—None.
business—Rental of furs and fur garments. Proceeds—
For inventory, equipment, advertising and leasehold im¬
Graniteville Co.
provements, Office—350 Seventh Ave., N. Y. Under¬
Dec. 15, 1961 filed 796,736 common. Prifce — By amend¬
writer—B. G. Harris & Co., Inc., N. Y.
/
ment. Business—Manufacture of cotton fabrics. Proceeds
Inurance
Employees
.
Under¬
ment, plant expansion and working capital. Office—300
Passaic St., Newark, N. J. Underwriters — Milton D.
Underwriter—None.
Haltone Rental
Price—$3. Business—A
Proceeds—For in¬
company.
ture of steel office furniture. Proceeds—For debt
repay¬
Price—$2. Business—Writing of,
Ala.
basis.
investment
1961
are
fire and casualty
and its subsidiary provide automobile and mobile
financing service on a nationwide basis to gov¬
ernment employees and military officers. Office—Govt.
15,
shares
insurance. Proceeds—To increase capi¬
tal and surplus.
Office—25 S. Perry St., Montgomery,
home
share-for-share
Office—760 S. Hill St., Los Angeles.
writer—None.
(1/22-26)
pany
a
vestment.
Sept. 28, 1961 filed 226,004 common to be offered for
su ascription by stockholders on the basis of three new
shades for each 10 held.
on
management
-
Gulf American Fire &
i
16, 1961 filed 2,265,138. common to be offered for
subscription by stockholders of Union Bank of Califor¬
36,000 common. Price — $5,
Business—Manufacture and sale of hassocks, bench seats
and leg rests. Proceeds—For debt repayment, equipment
and working capital. Address—Guayanille, Puerto Rico.
Underwriter—I. R. E. Investors Corp., Levittown, N. Y,
of paper.
•
,
Oct.
,
Guayaco Corp.
29, 1961 ("Reg. A")
1961 filed 140,000 common.
—Amos Treat &
High Temperature Materials, Inc. (1/29-2/2)
Sept. 28, 1961 filed 120,000 common. Price—By amend¬
ment.
Business—Manufacture
Qf products from test
Nov.
(1/29-2/2)
Price—$11. Busi¬
Proceeds—Expansion and
working capital. Office—Lyons Falls, N. Y. Underwriter
Sept. 28,
ness—Manufacture
Proceeds—For equipment, inventory,
promotion, expansion and working capital, Office
—10-2& 47th Rd., Long Island City, N. Y. Underwriter—
J. B. Cohurn Associates, Inc., N, Y. Offering—Indefinite.
allied equipment.
Corp.
end investment company.
common.
Price—$5.
machines and
of barbeeue
manufacture
sales
if Growth Consulting & Financing Co., Inc.
Dec. 29, 1961
("Reg. A") 198,250 common (with war¬
rants). Price—$1,155. Business—A holding company for.
a
broker-dealer, farm equipment manufacturer and a
finance company. Proceeds — For an acquisition and
working capital. Office—33 N. LaSalle St., Chicago. Un-'
derwriter—Growth Issuers, Inc., (same address).
N. W.,
•
Business—The
C#o«
-
Hickory Industries, Inc.
31, 1961 ("Reg. A") 40,000
Aug.
corporate purposes. Office—314 N. B'way, St.
St. Louis.
Offering—Expected in mid-February.
Proceeds—For working capi¬
purposes.
•
meteorological in¬
of loans, equip¬
1961
A closed
Appley, Inc.
investment.
Office—16 Court St., Brooklyn, Nl Y.
Underwriter—-Arnold, Wilkens & Co., N. Y.
General
Corp.
corporate
—
Thursday, January 11, 1962
.
For
(1/22-26)
Busi¬
repayment
Construction
Valley
.
27, 1961 filed 100,000 class A common. Price—By
amendment. Business—General real estate. Proceeds—
Louis. Underwriter—Edward D. Jones & Co.,
Philadelphia. Offering—Expected in February.
—Real estate investment.
29,
.
Oct.
Sept. 11, 1961 filed 100,000 common to be offered for
subscription by stockholders on the basis of one new
share for each three held. Price—By amendment. Busi-
Inc.
1961 filed 100,000 common.
Proceeds—For
Qriesedieck
minent.
Investment
Herman &
Pitts¬
filed 80,000 common. Price—$5.25. Busi¬
ness—General contracting for landscaping and construc¬
tion work. Proceeds—For debt repayment and other cor¬
porate purposes. Office—97-36 50th Ave., Corona, N. Y.
Underwriter—Williamson Securities Corp., N. Y.
Nov.
175,000 common. Price—$10. Business
ladies' underclothing. Proceeds—
For repayment of loans and general corporate purposes.
Office—Bank of Bermuda Bldg., Hamilton, Bermuda.
Underwriter—Globus, Inc., N. Y. (mgr.) Offering—Im¬
Gotham
Bldg.,
ment, salaries and general corporate purposes. Office—
2500. Shames Dr., Westbury, N. Y. Underwriter—N. A.
Hart & Co., Bayside, N. Y.
i'-
Aug. 28, 1961 filed 100,000 capital shares.
Business—The company plans to operate a
Instrument Co.
manufacture of precision
struments.
;
,
(Henry J.)
ness—The
Aug. 25,1961 filed
Nov. 21,
Trust
Aug. 24, 1961 filed 140,000 common. Price—$2.25.
—The manufacture of
Golf Courses,
Union
burgh. Underwriters—Moore, Leonard & Lynch and Sin¬
ger, Dean & Scribner, Pittsburgh.
Inc.
Industries,
Globe
Office—952
investment.
For
Continued from page 37
Chronicle
.
•
Industrial Finance & Thrift Corp.
Oct 30, 1961 filed $2,000,000 of 6% subordinated deben¬
tures due 1974. Price—At par. Business1—A consumer
Number 6124
195
Volume
.
.
.
The Commercial and Financial Chronicle
Jaylis Industries, Inc.
finance firm. Proceeds—For repayment of
pansion.
Office—339
debt and ex¬
St., New Orleans, La.
Carondelet
Sndusir^E
Gauge.& Instrument Co., Inc.
r
thermometers, etc. Proceeds—For debt repay¬
working capital. Office—1403-07 E. 180 St.,
Bronx, N. Y. Underwriter—R. F. Dowd & Co., Inc., N. Y.
Offering—Imminent. ',,
' .';K'
;-,•//.
i
gauges,
ment
■
-
and
u
1961
Information
Systems, Inc.
.
Dec. 29,
filed 500,000 common. Price—$15. Busi¬
ness—A small business investment company. Proceeds—
For general corporate purposes. Office—208 S. La Salle
St., Chicago. Underwriter—A. C. Allyn & Co., Chicago.
26,
Koilmorgen Corp.
Diversified Industries, Inc.
1961 filed 200,000 common. Price—$3.50. Busi¬
ness—Company plans to acquire and operate concerns
engaged in diversified business activities. Proceeds—For ;
general corporate purposes. Office—161 E. 42nd St., New
York.
Underwriter—Continental Bond & Share Cbrp., '
Maplewood,, N. J.
Jefferson
Industry Capital Corp.. (3/5-9)
Dec.
Dec.
shares.
Price—$200. Business—Manufactures patented
traversing screens for use as window coverings, room
dividers, folding doors, etc. Proceeds—For debt repay¬
ment and general corporate purposes. Office—514 W.
Olympic Blvd., Los Angeles. Underwriter—D. E. Liederman & Co., Inc., N. Y.
Offering—In February.
9, 1961 ("Reg. A") 95,250 common. ?Price—$3.
Business—Purchase, distribution and sale of industrial
jlnov.
•
13, 1961 filed 1,266,000 common to be offered to
preferred and common stockholders of Ling-Temco.Nov.
tJeanell Laboratories, Inc.
to
Angeles.
be
Forces and the manufacture of electronic control
Underwriter—None.
1
rignt, Ahalt & O'Connor, Inc., N. Y.
equip¬
•
1961 filed 90,000 commcin. Price—$4.25. Busi¬
ness—Designs,
develops, - sells and leases automatic
Get, 25,
packaging>machines.
Proceeds—For debt repayment
and general corporate purposes. Office—441 Lexington
Ave., N. Y. Underwriters—Stearns & Co. and Joseph
Nadler & Co., N. Y.
t
Sept.
1
("Reg.
1961
A")
120,000
named. Note—This letter
son
general corporate purposes. Office—148
son Ave., N. Y.
Underwriter — Burnham & Co.,
Offering—Expected in early February. ;
/
:
juice products. Proceeds—For general corporate
Office—241 N. Franklintown Rd.,. Baltimore.
Auchincloss, Parker & Redpath, Wash¬
ington, D. C
1;
Interstate
Oct.
due
on
Inc.
Hosts,
.
—
•*.
Keeko, Inc.
Corp. (1/22-26)
-,
>v-A"
Sept. 15, 1961 filed 200,000 class A common. Price—$?.
Business — The wholesale distribution of photographic
and sound equipment and supplies. Proceeds—For the
selling stockholders. '• Office — 45-17 Pearson. StY Long
Island City, N. Y. Underwriters—C. E. Unterberg, Towbin Co., and Arnhold & S. Bleichroeder, Inc., N. Y. ; .
Inter photo
_
•
**
Electronics, Inc.
purposes.
Underwriter
(1/15-19)
'
Dec. 1,
1961 ("Reg. A") 100,000 common. Price—$3. Busi¬
ness—Company plans to establish service stations and,
.vending machine outlets in the Denver area. Proceeds—
JFpr deht..repayment and. general corporate, purposes..
Office—4970 Jackson St., Denver. Underwriter—Amos
C. Sudler & Co., Denver.
--
.
Keller Corp.
•
vr-
V
subord. debentures
1981 to be offered for-subscription by stockholders
June 29, 1961 filed $1,200,000 of 6%% convertible sub¬
ord. debentures due 1968. Price—At 100%. Business—
for each 33 shares
Development of land, construction of homes and related
activities in Florida. Proceeds—Repayment of debt, ac¬
quisition of Yetter Homes, Inc., and general corporate
purposes. Office—101 Bradley Place, Palm Beach, Fla.
Underwriter—Casper Rogers & Co., Inc., N. Y. Note—
This registration may be withdrawn.
2,
the
1961
basis
filed $2,550,000 of con.
$100
of
of debentures
Business—The operation of restau¬
rants, other food establishments and gift shops. Pro¬
ceeds.—For expansion. Office—1125.5 W. Olympic Blvd.,
Los Angeles. Underwriters—Glore, Forgan & Co., N. Y.
and H. M. Byllesby & Co,, Inc., Chicago.
Inter world Film Qistributors, Inc. (1/29-2/2)
Sept. 29, 1961 filed 106,250 common. Price—$4. Business
Theatricaldistribution and co-production of foreign
and domestic feature films. Proceeds—For acquisition,
co-production, dubbing, adaptation and distribution of
films, and working capital. Office—1776 B'way, N. Y.
Underwriters—General Securities Co., Inc., and S. Kasdan & Co., Inc., N. Y.
/
Jackson Optical, Inc. (2/13-16.)
Oct. 30,/ 1961
("Reg. A")."75,000' common.
Price—$2.
Business—Wholesale distribution of optical goods. Pro¬
ceeds—For expansion and working capital.
Office—64
N. Park Ave., Rockville Centre, N. Y.
Underwriter—
Stan-Bee & Co., Washington, D. C.
;';;'V'rY
held. Price—At par.
i
;
.
~
....
,
(The)
Japan Fund, Inc.
(1/22-26)
,
:
;
Kine Camera Co.
Inc.
1961 filed 75,000 common. Price—$5. Business
—Importing and distribution of cameras, binoculars and
photographic equipment. Proceeds—For debt repayment
snd working capital. Office—889 Broadway, N. Y. Un¬
derwriter—Underbill Securities Corp., N. Y.
Offering
,
—Expected in February.
St., N. Y. Proceeds—For
securities. Underwriters—Bache
King Louie Bowling Corp. (1/29-2/2)
Sent. 27, 1961 filed 325,000 common. Price—$3. Business
—Operates a chain of bowling centers. Proceeds—Repay
& Co., and Paine, Web¬
;
,
debt
and
for
other
corporate
purposes.
Office—8788
Japan.::'.-f-:; 'Y:'n./YYY-Y.
Metcalfe Rd.. Overland Park, Kan. Underwriter—George
Jayark Films Corp. (1/22-26)
K. Baum & Co., Kansas CityK Mo.
Aug. 24, 1961 filed 72,000 common, of which 50,000 are
<Knickerbocker Toy Co., Inc^ (1/22-26)
to be offered by the company and 22,000 !>./ stockhold¬
Sept. 27, 1961 filed 100.000 common. Price—By amenders.
Price—By amendment. Business—The distribution,
;
ment. Business—Design and mahufapture of toys^ Proof motion picture land television films.1 Proceeds—For
Ltd., Tokyo,
1
production- of filmsand/ working capitaL Uffice—15, E.
48th St., N. Y. Underwriter—Pacifie
San Francisco.
V.Y- .-.V •'
.
Coast Securities Co.,
*.
—
By
amendment. Business—Manufacture and sale of vertical
turbine pumps and the sale of a domestic water system
equipment manufactured by a subsidiary. Proceeds—
selling stockholders. Office—2943 Vail Ave., Los
Angeles. Underwriter—Crowell, Weeden & Co., Los
Angeles.
For
Leader-Durst Corp.
Dec.
1, 1961 filed 405,000 class A
Price—$5.
repayment of debt.
Office—41 K 42nd St., N. Y. Underwriter—None.
'
common.
Business—Real estate. Proceeds—For
.
•
Lee
Fashions, Inc. •
Dee. 27, 1961 filed 166,667 common. Price—By amend¬
ment. Business—Importing of low priced ladies' scarfs
and blouses. Proceeds—For debt repayment and working
capital. Office—2529 Washington Blvd., Baltimore. Un¬
derwriters—-Godfrey, Hamilton, Taylor & Co.,' N. Yt
and Perizell & Co., Miami Beach. Offering—In March.
'Ar Lehigh Industries & Investing Corp.
>4.
Dec. 29, 1961 filed 2,000,000 class A common. Price—By
amendment ($4 est.). Business—A holding company for
three subsidiaries which operate utilities, engage in
construction, and distribute electronic parts. Proceeds—
For debt repayment, construction, and working capital.
Office—800 71st St., Miami Beach, Fla. Underwriter—
To be named (a newly-formed subsidiary). ■;
Lehigh Press, Inc.
Nov, 3, 1961 filed 155,000 common, of which
to be offered by the company and 110,000 by
ers.
Price—By
Lembo
amendment.
Business—A
45,000 are
stockhold¬
commercial
ceeds—For
:
working, capital,.
Office—401
Butler
St.,
Brooklyn, N. Y. Underwriters — Netherlands. Securities
Co., Inc., and Herbert Young & Co., Inc., N. Y.
Corp.
21, 1961 filed 100,000 common. Price—$3.50. Busi¬
ness—Manufactures steel re-inforced concrete utilities,
sanitary structures, fallout shelters and play sculptures.
Proceeds—For debt repayment, sales promotion and
working capital. Office—145 W. 11th St., Huntington
Station, L. L, N. Y. Underwriter—Blank, Lieberman &
Co., Inc., N. Y.
•
Leslie
(Joyce), Inc. (1/29-2/2)
Sept. 28, 1961 filed 100,000 common. Price—$5.50. Busi¬
ness—Retailing of women's apparel. Proceeds—For ex¬
pansion, inventories and working capital, Office—850
Flatbush Ave., Brooklyn. Underwriter—Seymour, Ber¬
nard &
investment in Japanese
N. Y., and Nikko Securities Co.,
Layne & Bowler Pump Co.
22, 1961 filed 108,666 capital shares. Price
Dec.
Dec.
Nov. 21,
19, 1961 filed 2,000,000 common., Price — $12.50.
Business—A diversified investment company. Office—25
ber, Jackson & Curtis,
repay¬
printer. Proceeds—For a new plant, moving expenses
and equipment. Office—2400 E. Huntingdon St., Phila¬
delphia. Underwriter—Harrison & Co., Philadelphia.
Oct.
Broad
debt
Price—By amendment. Business—The operation of coin
operated children's amusement equipment Proceeds—
For repayment of loans, equipment and general corpo¬
rate purposes. Office—2557 W. North Ave., Chicago. Un¬
derwriter—Paul C. Kimball & Co., Chicago.
,
r
Proceeds—For
ment, plant expansion and working capital. Office—500
Edward Lamb-Bldg., Toledo. Underwriter—Blair & Co.,
'V*N. Y.
j/i
•.
• Kiddie Rides, Inc.
(t/29-2/2)
Sept. 12, 1961 filed $1,000,000 of 7% convertible subordi¬
nated debentures due 1971 and 30,000 common to be of¬
fered in units of $1,000 debentures and 30 of common.
■
.
s. f. subord. debentures
warrants). Price—At par.
related aluminum products.
Ave., Hicksville, N. Y. Underwriter—General Securi¬
of fruit
Madi¬
N. Y.
attached
pluming fixtures, water softeners; sugar cane agricul¬
tural equipment; aluminum doors, storm windows and
Proceeds—For working
W* Kay Foods Corp.
Dec. 29, 1961 filed 88,000 class A common shares, of
which 44,000 are to be offered by the company and 44,000
by stockholders. Price—$7. Business—Packing and sale
27, 1961 filed 300,000 common. Price—By amend¬
ment; Business—Production and sale of extruded rubber
thread and braided elastics. Proceeds—For debt repay¬
(with
Price—$5.
common.
24, 1961 filed 108,000 common. Price—$6.50. Busi¬
ness—Wholesaling of electronic parts and components
and equipment. Proceeds—For debt repayment and gen¬
eral corporate purposes. Office — 2050 Rockrose Ave.,
Baltimore. Underwriter—Rubin, Rennert & Co., Inc., N.Y.
Offering—Expected sometime in February.
Nov.
Industries, Inc.
$2,200,000 of
1977..
gianufacture of electronic instruments
Oct.
will be withdrawn.
Coast
Business—Manufacture of gas and electric water heaters,
capital,
products and repayment of loans. Office—20 Madi¬
Kann-Ellert
Price—$2.
^^2701
St., Los Angeles, Underwriter—Pacific
Co., San Francisco.
Lamb
due
ties Co., Inc., N. Y. Note—This letter Was withdrawn.
precision
ment and
Stocker
Dec. 28, 1961 filed
used in communication.
International Stretch Products Inc.
.
vertising, leases, and working capital. Office
Securities
new
common.
—
•
Laboratory Procedures, Inc. (1/29-2/2)
Sept. 29, 1961 ("Reg. A") 100,000 capital shares. Price—
$2.50. Proceeds—For debt repayment, equipment, ad¬
Business—Manufacture and sale of greeting cards.
Business—The
instruments.
Proceeds—For equipment and working capital. Office—
176 E. 15th St., Paterson, N. J. Underwriter — To be
of
manufacture
Business—The
.
working
capital. Office—1 Bala Ave., Bala-Cynwyd, Pa. Under¬
writer—Stevens Investment Co., Bala-Cynwyd, Pa.
Plastics, Inc.
'
Ripley Industries, Inc., below.
Joyce Teletronics Corp.
Aug. 31, 1961 ("Reg. A") 55,000
Mech-Tronics, Inc.
International
«
ceeds—For repayment of a loan, purchase of equipment,
research
and
development, advertising and
•
A,
general corporate purposes. QfGirard, Ohio. Underwriter—*
Broadway,
capital. Office—106-11 157th St., Jamaica, N. Y.
Underwriter—Godfrey Hamilton, Taylor & Co., Inc., N. Y.
Co., Inc.,
•
W.
Best & Garey & Co., Inc.,
Washington, D. C. OfferingExpected sometime in March.
ing
International Management Corp.
.
fice—126
Proceeds—For repayment of loans, expansion and work¬
Aug. 21, 1961 ("Reg, A") 100,000 common (par $1). Price
—$3. Proceeds—For loans to subsidiaries and working
capital. Office—7510 B. Granby St., Norfolk, Va. Under¬
writer—J. B. McLean & Co., Inc., Norfolk. OfferingImminent.
Homes, Inc.
14, 1961 filed 200,000 common. Price—$5. Business
holding company in "shell homes" field. Proceeds—
—A
-
• Jorn's Greeting Card
Co., Inc. (1/22-26)
Sept. 28, 1961 filed 110,000 common. Price—By amend¬
Price—By amendment. Business — Establishment and
operation of hotels located in or near airports. Proceeds
—For debt repayment and working capital. Address—
Miami International Airport, Miami, Fla. Underwriters
—Bache & Co., N, Y. and Robinson-Humphrey
Atlanta.
''"-■ • /'>;)■■ .
Y
Kraft Planned
Dec.
L. L. Drug Co., Inc. (1/16)
July 26, 196i fiiea 160,000 guimuon shares. Price—$4.50.
Business — The manufacture of pharmaceuticals. Pro¬
-
ment.
Underwriter—Put¬
derwriter—Eastman Dillon, Union Securities & Co., N. Y.
1961
Jomar
* International Airport Hotel Systems, Inc.
Jan. 4, 1962 filed $1,700,000 of convertible subordinated
debentures due -1977 and 170,000 common shares to be
offered in units of one $100 debenture and 10 shares.
•"
King St., Northampton, Mass.
Co., Hartford.
&
nam
Manufacture of aerosol spray paints,
protective coatings and other aerosol products. Proceeds
—For selling stockholders. Office—Norristown, Pa. Un¬
,
See
—347
ment. Business
,
Electronics, Inc. (1/15-19)
filed 125,000 capital shares.
Price—By
amendment. : Business—The design and production of
special electronic components for the commercial and
military market. Proceeds—For the repayment of debt,
and working capital. Address—Box 7, Casselberry, Fla.
Underwriter—Warner, Jennings, Mandel & Longstreth,
Philadelphia... 8,
amendment.
Business—Manufacture of op¬
tical equipment. Proceeds—For debt
repayment. Office
(1/29-2/2)
Nov. 15, 1961 filed 250,000 common.
Price—By amend-,
Johnson
Sept.
Price—By
Krylon, Inc.
ment. Proceeds—For general corporate purposes. Office
—102 Dorsa Ave,, Livingston, N. J. Underwriter—Sea-
Facilities, Inc.
Dec. 7, 1961 filed 100,000 common. Price — $10. Busi¬
ness—Mining of limestone and the operation of under¬
ground freezer and dry warehousing facilities. Proceeds
—For debt repayment, equipment and other corporate
purposes. Office—6500 Inland Dr., Kansas City, Kansas.
Underwriter—Scherck, Richter Co.., St. Louis.
Inland Underground
Inpak Systems, Inc. (1/29-2/2 )
*
offered, by the company and 32,000 by stockhold¬
ers. Price — By amendment. Business — Development of ;
simulated weapons training devices for U. S. Armed
control systems. Proceeds —For selling
handling and
stockholders.* Office—10131 National Blvd., Los
(1/29-2/2)
Nov. 9, 1961 filed 100,000
common, of which 40,000 are
to be sold by the company and
60,000 by stockholders.
For debt repayment and
Dec. 21, 1961 filed 114,500 common, of which 82,500. are
Vought, Inc. (parent) of record Nov. 30, 1961. Price—By
amendment; Business—Furnishes industrial information^
39
Kogel, Inc.
8, 1961 filed 100,000 common. Price—$1, Business
■—A holding company for three subsidiaries in the
wall
and floor coating business. Proceeds—For
product de¬
velopment, advertising, and working capital. Office—
26-32 Second St., Long Island
City, N.Y. Underwriter—
Globus, Inc. Offering—Expected in late March.
,
Oct. 18, 1961 filed $850,000 of 6%% suboru. debentures
aue 1971 and 212,500 class. A common shades to be of¬
fered in. units of one $100 debenture ana 25 class A
U nderwr iter—N one
•
(203)
»
DuBoff, Inc., N, Y.
Lido
Corp.
(1^29-2/2)
Aug. 29, 1961 ("Reg. A") 84,000 common. Price—$3.25.
Business—The manufacture of toys, games and novelties.
Proceeds—For new equipment, advertising, and repay¬
ment of loans. Office—349 Rider Ave., Bronx 51, N, Y.
Underwriter — Flomenhaft, Seidler & Co., Inc., N. Y.
Lincoln Fund, Inc.
(1/1649)
30v 1961 filed 951,799 shares of common stock
Price — Net asset value plus a 7% selling commission.
March
Business
—
A non-diversified, open-end, managementContinued
on
page
40
The Commercial
Continued from page
39
31, 1961
Louisville, Ky.
Lithoid, Inc. (2/26-3/2)
^
Nov. 22, 1961 filed 120,000 common. Price—$3.
—Development and manufacture of equipment
tems
for the J photographic data processing
w
Business
and sys¬
industry..
purposes. Office—232
Highland Park, N. J. Underwriter—:
Godfrey, Hamilton, Taylor & Co., Inc., N. Y. .
Ave.,
Cleveland
Togs, Inc. :
-Little Ruffy
.
^
i
:
:
;
(1/15-19)./
Laboratories, Inc.
Research
Mann
—
&
150,000 common. Price—By amend¬
ment ($5 maximum). Business—Publication and sale of
paperback school books; manufacture of stuffed novel¬
ties, college pennants, etc.; and distribution of medical,
nursing and law books. Proceeds—For debt repayment
1961 filed
28,
Brothers and
,
Calif. Underwriters—Lehman
Clark, Bodge & Co. Inc., N. Y. ,
Lomart Perfected
Devices, Inc.
(1/15-19)
stampings, etc. Proceeds—For
moving
purchase of equipment, promotion of a new
product and working capital. Office—199 Bleecker St,
expenses,
Underwriter—None..
Lowell Toy Manufacturing Corp.
Dec. 27, 1961 filed 120,000 common, of which 100,000 are
to be offered by the company and 20,000 by the stock¬
holders. Price—$5. Business—Design, manufacture and
sale of toys and games. Proceeds—For. equipment, ad¬
vertising and working capital. Office—1074 Brook Ave.,
N. Y. Underwriters—H. M. Frumkes & Co. and Batchker,
Brooklyn, N. Y.
Co., N. Y.
&
Eaton
Enterprises,
Aug. 31, 1961 filed
Irwin &
N. Y. Underwriter—Ehrlich,
Co., Inc., 50 Broadway. N. Y.
1501
•
Broadway,
Industries
Corp.
•
By
'
to
,
Gabriel Co., N. Y.
filed $4,000,000 of conv. subord. debentures
due
1977;
also
150,000
common
shares.
Price—By
amendment. Business—Construction and sale of homes.
Proceeds—For debt repayment and general corporate
Dec. 21, 1961
Office—7844 E. Rosecrans Ave.,
purposes.
tures
•
None.
—Reprocessing
/.////i//;//-
I/'/
Electronics Co.
Marshall
•
(1/22-26)
—54 Summer
Ave., Newark, N. J.
ington, N. J. Underwriter—Mortimer BrBurnside & Co.,
N.
Meteor
Oct.
30,
& Boyce,
28,
ment.
—530
12340
•
Maxam,
Oct.
N.J
•
100,000
26,
riodicals.
Proceeds—For
are
promotion, a new publication
Madison Ave., New
k
'
"
Des
1961
*
• Miami
100,000
Moines. Underwriter—None.
1.
shares to be offered
$100 of debentures and 20 common
Chase,
Underwriter
Md.
—.
R.
Co;, Washington, D. C. Offering—In Feb.
Realty Trust
•■/■%
Processing Center,
Data
Inc.
2, 1962 ("Reg. A") 70,000 common. Price—$3. Busi¬
statistical
information
to
customers by
using data processing equipment. Proceeds—Debt repay¬
100,000
ment, leasehold improvements and working capital. Of¬
7th Ave., Miami, Fla. Underwriter—E.
fice—7750 N. W.
W.
working cap¬
Stewart &
>
.
Co., Inc., Miami, Fla;
<V.H"r:/-""
(2/26-3/2)
Dec. 20, 1961 filed 103,0G0 common, of which 20,600 are
to be offered by the company and 82,400 by stockhold¬
ers. Price—By amendment.-Business^-Retail sale:of fur¬
niture, major appliances, bedding, etc., through a Chain
Michaels
;
common.
subordinated convert¬
common
King, Libaire, Stout & Co., N. Y.
Ave., Roslindale, Mass. Un¬
Co., Inc., N. Y.
filed 980,000
60,000
Chevy
Ave.,
&
ness—Furnishes
Price — Net asset
value (without sales commission). Business—A mutual
fund. Proceeds—For investment; Office—919 Walnut St.,
29,
and
1961 filed 1,000,000 shares of beneficial.interest.
Price—$6.50. Business—A real estate investment, trust.
Proceeds—For general corporate purposes. Office—1700
K St., N. W., Washington, D. C. Underwriter—Eisele &
Inc.
• Mayflower Fund, Inc.
Underwriter—Kolb & Law¬
'/; /;//•'v
''
V ; //
Dec. 20,
Jan.
Proceeds—For debt repayment and
1967
Metropolitan
/
ital. Office—525 Hyde Park
Inc.
capital. Office—660
York. Underwriter-r-To be named.
working
Western
Y.
(1/29-2/2)
filed 200,000 common, of which
to be offered by the company and
Calif.
1961 filed $300,000 of 6%
due
BdTuch
Corp.
1961
derwriter—McDonnell &
Dec.
Aug. 2, 1961 filed 135,000 common shares. Price — By
amendment. Business—The publishing of business pe¬
and
stores.
Underwriter—Charles Plohn
For Industry,
Coke
of
shares. Price—$150 per unit. Business—Financing of re¬
tail sales. Proceeds—For working capital. Office—5422
by stockholders. Price—By amendment. Busi¬
ness—Operation
of self-service discount department
N. Y.
Magazines
&
Hollywood,
in units consisting of
common,
shares
Price—$5.
Cloverdale, Detroit.
Coal
common. / Price—$3.
electric barbecue motors,
100,000
A")
("Reg.
Manufacture
Metropolitan Acceptance Corp.
ibles
Baltimore. Offering—Expected in March.
—
Inc., Las Vegas, Nev.
Oct. 2,
;/"/
200,000
Union Securities & Co., N.
to be offered by
& Co.,
&
(1/29-2/2)
Price—By amend¬
Business—Mining of bituminous coal.
Proceeds
debt repayment and purchase of equipment. Office
Fifth Ave., N. Y. Underwriter—Eastman Dillon,
—For
the companv and 200.000 bv stock¬
Business—Molding of plastic prod¬
ucts for the automobile, electrical utility and telephone
industries.
Proceeds—For
working
capital.
Office—
are
rence,
13, 1961 filed 250,000 common.
shares
holders.
filed
1961
Maust
Nov.
Macoid
Sept.
f
Enterprises, Inc.
1961
31,
North
private cafeterias and public restaurants. Proceeds—For
debt repayment and general corporate purposes./ Office
—25
E. Lee St., Baltimore. Underwriter—Stein
Bros.
shares (par one
cent). Price—$2. Business—The distribution of health,
exercise and slenderizing equipment. Proceeds—For re¬
payment of loans, equipment, new products, sales pro¬
motion and advertising, plant removal and working cap¬
ital. Office—189 Lexington Ave., N. Y. 16. N. Y. Under¬
Industries, Inc. (1/15-19)
1961 filed 300.000 common, of which
Co.
/
igniters, etc. Proceeds—For debt repayment and gen¬
eral corporate purposes.
Office—5356 Riverton Ave.,
of which 125,000
are to be offered by the company and 75,000 by a selling
stockholder. Price—By amendment. Business—Operates
Nov.
July 20, 1961 ("Reg. A") 150,000 common
writer—Continental Bond & Share Corp., Maplewood,
(A. L.)
(1/22-26)
precision sheet metal products. Proceeds—For debt re¬
payment, and other corporate purposes. Office — 111
Bloomingdale Rd., Hicksville, N. Y. Underwriter—Frank
Karasik & Co., N. Y.
Business
St., Boston. Underwriter—Townsend, Dabney
Tyson, Boston.
<
Corp.
18, 1961 filed 100,000 common. Price—$2. Business
—Manufacture of electronic cases and containers, and
*
Roland
Manufacturing
Oct.
Maryland Cup Corp. (1/22-26)
Dec. 28, 1961 filed 240,000 common. Price—By amend¬
ment.
Business—Manufacture of paper cups,/straws,
Mathias
Y.
Metatronics
Underwriter—Richard
Co., Inc.. N. Y.
(1/29-2/2)
ment, and working capital. Office—174 Main Ave., Well¬
("Reg. A")
1, 1961
Inc.
and manufacturing of rare refractory
Proceeds—Repay debt, taxes, purchase equip¬
metals.
100,000 common. Price — $3.
regulators, thermo¬
couple tubes, and thyratrons. Proceeds—For expansion,
research and development, and working capital. Office
Nov.
International,
Metallurgical
Sept. 26, 1961 filed 145,000 class A. Price—$3. Business
Business—Manufacture of rectifiers,
Inc.
MacLevy Associates,
Beaver
Elm* Sts.,
and
Dam, Wis. Underwriters—Cruttenden, Podesta &."Co.i
Chicagomnd Splaine & Frederic, Inc., Milwaukee.
:
Offering—
Jones & Templeton, Los Angeles.
Expected sometime in February.
Business—Manufac¬
of the
Office—First
capital.
working
parts
1, 1961 filed 250,000 common. Price—By amend¬
ment. Business—A small business investment company.
Proceeds—For general corporate purposes. Office—91
South Seventh St., Minneapolis, Minn; Underwriter—
Paramount,
Mitchum,
amendment.-,
automotive and elec¬
industries.- Proceeds—For debt repayment and
and
products
trical
Dec.
Underwriters—Kidder, Peabody & Co., N. Y. and
Calif.
of
. .
..
(1/29-2/2)
Inc.
Price—By
holders).
/•
Masury-Young Co.
Realty Co.
Manufacture
1961 filed $600,000 of 6% s. f; conv. debentures
due 1976 and 100,000 common (of which 20,000 shares
are to be offered by the company and
80,000 by stock¬
Dec. 4, 1961 filed 100,000 common. Price—$6. Business—
Nov. 29, 1961
("Reg. A") 150,000 common. Price—$2.
Manufactures commercial and industrial floor mainte¬
Business—Design and manufacture of automatic filling
nance 'products.
Proceeds — For repayment of debt,
machines and related equipment. Proceeds—For debt re- \
equipment, and other corporate purposes. Office—76
payment and working capital. Office — 191 Berry St.,
Macco
—
and
Oct. 27,
Marquette Capital Co.
Inc.
Brooklyn, N. Y. Underwriter—A. J.
Business
$11.
—
garden sprinkling equipment.
Proceeds—:
For general corporate purposes. Office—Moonachie, N. J.
Underwriter—Francis I. duPont & Co., N; Y.
and
MRM Co.,
Price
holders.
the can- /
book matches, etc. Proceeds—For selling stockholders.
bottling of fruits and vegetables. Proceeds—
Address—Owings
Mills,
Md.
Underwriter—Lehman
For debt repayment and
working capital. Office—48
Brothers, n.y.
High St., Brockport, N. Y. Underwriter—None.
ning
c e—
Corp.,
(1/29-2/2)
Inc.
Industries,
Metalfab,
,
O ffI
15, 1961 filed 152,500 common, of which 52,500 are
be offered by the company and 100,000 by stock¬
lawn
•
Business
Melnor
(1/15-19)
4
.
purposes.
Nov.
Price—$7. Business—The manufacture of ladies' wear.
Proceeds—For working capital. Office—141 W. 36th St.,
N.Y.C. Underwriter—Bernard M.Kahn&Co., Inc., N.Y.C.
Offering—Imminent.
corporate
general
Studio City, Calif. Underwriter—Financial Equity
Los Angeles.
V:/;i/y-^//;.;/; /v:;//-/.- /
Aug; 29, 1961 filed 225,000 common, of which 150,000 are
to be offered by the company and 75,000 by stockholders.
Bruce &
• Lustig Food Industries, Inc.
Dec. 29, 1961 filed 100,000 common. Price—$6.
—Processing and packaging of frozen foods and
Proceeds—For
facilities and other corporate purposes.
Marlene
filed 250,000 common. Price—$10./ Busi¬
of
medical
electronic
equipment./
1961
13,
ness—Manufacture
oi
Office—15316 Tenth Ave., Whitestone, N. Y. Underwriters—Ross,
Lyon & Co., Inc. (mgr.), Glass & Ross, Inc., and Globus,
Inc., N. Y.
^
new
to
Medical Video Corp.
Nov.
Proceeds—
Office—155
Unterberg,
27, 1961 filed 95,000 common shares. Price —
amendment. Proceeds — For expansion, acquisition
which; plans
sociates, Inc., Denver.
(1/22-26)
Polarized Corp.
Marks
•
Inc. (2/5-9)
125,000 common. Price—$5.75. Busi¬
ness—The production of television films. Proceeds—Foi
filming and production and working capital. Office—
Lunar
working
Under¬
June
Price—$10. Business
company
open-end.
Proceeds—For investment in the
medical industry and capital growth situations. - Office
—677 Lafayette St., Denver, Underwriter—Medical As¬
become
.
Sept. 14, 1961 filed 100,000 common. Price—$5. Business
—The manufacture of pool filters and accessories and
tools, dies, metal
precision electromechanical devices.
For debt repayment apd working capital.
Waverly Place, N. Y. Underwriter—C. E.
Towbin Co., N. Y.
investment
closed-end
—A
Fund, Inc. '
1961 filed 25,000 common.
Oct. 23,
Corp.
of
sale
modern
serving
—
Medical Industries
—
diversified/investment company.
investment.' in; firms
New York,; N.zY.>. Underwriter—
Fleetwood Securities Corp. of America, 44^ Wall St., N. Y.
26, 1961 filed
ment.
2,000,000:ca^aTfshares;'/ Price^$l 0.
Address
medicine.
(1/22-26)
1U0,UUU common. Price—By amend¬
Business—Development, design, manufacture and
Markite
Hills,
Beverly
repair and
lnc./i^%::'/:;^
filed
Proceeds—For
(1/29-2/2)
Mfg. Corp.
For debt repayment and
capital. Office—610 W. 18th St., Hialeah, Fla.
writers—Terrio & Co., Inc., Washington, D. C.
Proceeds
systems.
it Litton Industries, Inc.
8, 1962 filed $50,748,100
due 1987 to be offered for
Rd.,
Oet. 26,196L
14,1961 ("Reg. A") 55,000 common. Pirce—$4. Busi¬
ness— Manufacture of waste water filters and
filtering
Jan.
hill
Marie Design &
Oct.
of conv. subord. debentures
subscription by holders of
outstanding common and
securities - convertible into
common
on
the basis of $100 of debentures for each
10 shares held. Price—By amendment. Business—Manu¬
facture of electronic systems and components, business
machines, commercial electronic equipment, nuclearpcwered submarines and other vessels. Proceeds—For
debt repayment and working capital. Office—336 Foot¬
Price—$1.
mechanical
of
Business—A closed-end
Nov.
Paterson,
capital. Office—128 Oliver St.,
Underwriter—Andresen & Co., N. Y.
working
and
N. J.
/
*
19,
& Medical Fund,
Co., n. y.
•
/
Littlefield, Adams & Co.
</''
/
derwriter—Globus, Inc.; N. • Y^/Offering-^-In ^February.
v
165,000 common.. Price—By amend-v
Manufacture and sale of /children's ;«■;
pharmaceuticals. Proceeds—For new quarters, equip- v
clothing. Proceeds — For debt repayment and working.
ment, a laboratory, inventories and working capital. Of- ■
capital. Office—112 W. 34th St., N. Y. Underwriters—;
fice—136 Liberty St., n. y. Underwriter—L. D. Sherman Glass & Ross, Inc. and Samson, Graber & Co„ Inc., N. Y.;
Dec.
Inc.
parts and miscellaneous
commercial products for automotive and aircraft indus¬
tries. Proceeds—For general;corporate: purposes. Office
—9150
Highway 85, Henderson, /Colo. /Underwriter—
Insurance Stocks, Inc., Denver.' ; j
of which 58,000 are
Sept. 21, 1961 ("Reg. A") 100,000 common. Price—$3. •
Business—Sale of scientifically tested biochemicals and •
29, 1961 filed
Business
and working
Underwriter-
.v.''.SV
14,000 by stockhold- ; '../' Medex, Inc./: / r
ers.
Price—$3.50./ Business—Manufacture of a diverse; Sept. 27, 1961 filed 110,000 common. Price—By amend-,
ment.
Business—Development; and/ manufacture of a,
line of proprietary drug products/ Proceeds—For addi¬
limited line of hospital and surgical supplies./ Proceeds;
tional equipment, product development and general cor- ^
—For construction, inventory, research and working cap¬
porate purposes. Office—156-158/Tillary St., Brooklyn,
ital/Office—1488 Grandyiew Ave.,/Columbus^ Ohio. Un¬
N. Y. Underwriter—To be named.
. •/ *
.
_
a
Industries,
manufacture
.
it Manhattan Drug Co., Inc.
Dec. 29, 1961 filed 72,000 common,
to be offered by the company and
of
stockholders at: the rate of $100
each 13 shares held. Price—By amend¬
Business — Magazine publishing. Proceeds -— For
1961 ("Reg." A") 150,000 common.
Business—Engineering, design, development,
Arizona. Proceeds—For general
corporate purposes. Office—125 N. Center St., Reno, Nev.
Underwriter—None.
^A^ V"":>.'■'/T '"■'■X
general- corporate
Proceeds—For
ment.
Thursday, January 11, 1962
.
common
Mech-Tron
Dec.
in
(magnetite)
sands
& Co.,
W. L. Lyons
Nov.
.
possible expansion and diversification,
capital.. Office—230 Park Ave.,: N. Y.
Goldman, Sachs & Co.
'
'
"•r'
Income Life
Lincoln
by
ment.
it Magnet Mining Co., Inc.
Jan. 2, 1962 ("Reg. A") 150,000 capital shares, Price—$1.
Business—Developing and exploiting large areas of black
Insurance Co.
filed 45,000 common. Price — By amend¬
ment. Business—A life insurance company. Proceeds—
For the selling stockholder. Office—Louisville, Ky. Un¬
derwriters—J. C. Bradford & Co., Nashville, Tenn. and
I
.
debentures for
Price—$4. Business
—Production of a new electrically powered device for
messaging a person in bed. Proceeds—For general cor¬
porate purposes. Office—Route 17, Rochelle Park, N. J.
Underwriter—Stanley R. Ketcham & Co., Inc., N. Y.
Dec.
whose primary investment ob¬
jective is capital appreciation and, * secondary, income
derived from the sale of put and call options. Proceeds—
For investment. Office—300 Main St., New Britain, Conn.
Distributor—Horizon Management Corp., New York.
Oct
tion
Magic Fingers, Inc.
29, 1961 filed 75,000 common.
.
investment company
type
Chronicle
and Financial
(204)
40
(J.), Inc.
of four stores. Proceeds—For. construction of a hew store.
Office—182
Smith
St.,
Brooklyn,
L. F. Rothschild & Co., N. Y.
-
N. Y. Underwriter—
V
"
McCall
Dec.
Corp.
(1/29-2/2)
1, 1961 filed $9,983,000 of convertible subordinated /
debentures due Feb. 1,
1992, to be offered for subscript
Midwest Medical
Investment Trust/;
v
.
/
/ ^ f
11, 1961 ("Reg. A"1.15,000 shares of beneficial in¬
terests; Price—$20. Busine*ss-^AV real" estate* investment
Dec.
Volume
Number
195-
6124
j
*
The Commercial and Financial Chronicle
.
trust
which plans to.iown.:interests in medical office
buildings, hospitals, etc. Proceeds—For working capital.
Address—Van- West, Ohio. Underwriter—J. Allen McMeen & Co., Fort
Wayne, Ind. •>.
,
wealth
Dec;
and
V
in the
Busi¬
commercial
be supplied by amendment.
Business
—
The
fi¬
Underwriters, Inc.
T.
.
W.
Missile
-
41
-
$400,000 of first mortgage sinking
(with warrants) and 15,000 shares
(par $10). Price—
Business—Design and manufacture of steam and
boilers.
Proceeds—For
construction
and
debt
Island Mines Ltd.
1*3, 1961 filed 475,000
offered
be
common, of which 400,000 are
the company and 75,000 by a stock¬
by
Price—50c.
Business—Exploration,
develop¬
mining. - Proceeds—General corporate pur¬
poses. Offiee—90 Industry St., Toronto, Canada. Under¬
writer—A. C. MacPherson & Co., Toronto.
.
and
ment
.
'
•
New West Land
Corp.
...
(1/15-19)
June
30, 1961 ("Reg. A") 200,UU0 common shares (par
$1). Price—$1.50. Proceeds—For repayment of notes and
.
.
.
1977
series A convertible preferred
holder.
Address—Keene, N. H. Underwriter—ChilNewbery & Co., Inc., Kingston, N. Y. Offering—Im-
N.
Milgray Electronics, Inc. (2/5-9)
Sept. 26, 1961 filed 166,667 common. Price—By amend¬
filed
due
New Campbell
to
Credit
minent.
-
1961
water
Oct.
purposes.
son,
(205)
repayment.. Office—235 N. 9th St., Lincoln, Nebr. Under¬
writer—First Nebraska Securities Corp., Lincoln.
counties,
Corp.
Nov. 3, 1961 ("Reg. A") $300,000 of 6Vz% convertible
subord. debentures, due 1971,"
Price—At par. Business
—A finance company/ Proceeds—For general corporate
Proceeds—General corpo- >
Office—1730: K St., -N. • W., Washington,
purposes. C.Y Under writer—Affiliated
D.
:
engage
Mutual
factoring business.
rate
To
6%
hot
municipalities and territories of the U. S. Proceeds—For
investment.
Sponsor—Ira Haupt & Co., Ill Broadway,
.
ness—Company plans to
of
29,
At par.
N, Y. C. Offering—Expected in early 1962.
.
nance
—
fund will invest in tax-exempt bonds of states,
>
^ Nebraska Boiler Co., Inc.
fund bonds
Price
.
Price—$2.
Pennsylvania and its political sub-divisions.
Sponsor—Ira Haupt & Co.,
Broadway, N. Y. C.
Municipal Investment Trust Fund, Series B
April 28, 1961 filed $12,750,000 (12,500 units) of interests.
in units of one preferred and two common:
Price—$170
per-unit.'Business—Manufacture and sale of small pleasure
crafts.." Proceeds—For'debt repayment. Address—
Fort Wayne, Ind. Underwriter—None.
.
/
of
Ill
.
MidwesternInvestment Corp.
-16,'»1961 filed 200,000 common.
.
Proceeds—For investment.
ir Midwestern Industries Corp.
'♦
Dec.1.58;'4961' ("Reg. A") -1,292 common1 and 646 noncumulative participating preferred shares to be offered
Oct.
4
Engineering, Inc.
acquisition of real estate interests. Office—3252 Broad¬
way, Kansas City, Mo.
Underwriter — Barret, Fitch,
ceeds—For debt repayment, inventories and research and Z North & Co., Kansas City, Mo.
parts. Office—136 Liberty St., N. Y. Underwriter—D. B.
Marron & Co., Inc., N. Y.
New World Laboratories, Inc.
YY
-'-'VY;'y :YYY development. Office—4820 Alcoa Ave., Los Angeles. '
Underwriter—None.
Miller Brothers Hat Co., Inc.
/'Y//
Nov. 13, 1961 ("Reg. A") 100,000 common.
Price — $3.
Dec. 18, 1961 filed 126,000
Business—Manufacture of cosmetics and hair prepara¬
/-Narrows Premium Corp.
common, of which 100,000
(1/29-2/2)
will be sold by the company and
tions. Proceeds—For debt repayment and general cor¬
26,000 by certain stock¬
Sept. 25, 1961 filed 100,000 common. Price—$4. Business
holders. Price—By amendment. Business—Manufacture
porate purposes. Office—1610 14th St., N. W., Washing¬
—Financing of casualty insurance premiums in New
of men's and boy's hats. Proceeds — For
York State. Proceeds—General corporate purposes. Of¬
ton, D. C. Underwriter—T. J. McDonald & Co., Inc.,
purchase of a
building, plant equipment, and working capital. Address
fice—9805 Fourth Ave., Brooklyn, N. Y. Underwriter—
Washington, D. C. Offering—Expected in February.
Dec. 29, 1961 filed 250,000
—Engaged in the aircraft
ment. Business—Wholesaler and distributor of electronic
—2700
&
Canton St., Dallas.
Underwriter—Eppler, Guerin
Turner, Inc., Dallas.
MiIli-Switch
Corp.
("Reg. A")
Dec.
tronic
components.
•
Mill
For
—
Creek
general
Rd.,
Miio
corporate
securities.
•
Miss
Oct.
Elliette, Inc.
10,
ment.
1961
filed
Business
—
YY/ Y;
•
Design, manufacture and distribution
common.
Price
—
$1/
Production and sale of new type
butterfly
Proceeds—For, purchase of the patent and pro¬
duction and development of .the. valve.
Office
5909
Business—A
Hollywood Blvd., Hollywood, Calif. Underwriter—Pre¬
corporate purposes.
—
National Mercantile
Oct.
,
-—
ferred Securities.'. Inc., /Phoenix.
.
Mitron
Research &
Development Corp.
;
industry.
Proceeds—For
general
Business
for
:
Mobile
the
250 mobile home sites, form sales
agencies and for work¬
ing capital.
Office—26 Dalbert, Caneret, N. J. Under¬
writer—Harry Odzer Co., N. Y.
Corp.
of 'trailers.
expansion,
are
be
to
Co.
offered by the company and
15,000 by Cardia
Price—$5. Business—The manufacture of high-fem-
perature
electronic
Proceeds-YFor
and
electrical
insulation
materials.
equipment,
a new product and working
capital. Office—101 Clifton Blvd.* Clifton, N. J. Under¬
writers—Street & Co.. Inc. and Irving Weis & Co.. N. Y.
t.Molecu'ar
j
Systems Corp.
Dec. 12, 1961 filed 140,000
—Production
grades.
Proceeds
velopment
•
of
and
common.
polyethylene
—
For
working
Price—$3. Business
materials
of
varying
equipment,
capital.
research and de¬
Office — 420 Bergen
Blvd., Palisades Park, N. J. Underwriters—Stone, Acker& Co., Inc.,
(mgr.) and Heritage Equity Corp., N. Y.
man
it Morse E'ectro Products Corp.
Dec..29, 1961 filed $1,250,000 of 6^%
convertible sub¬
ordinated debentures due
March, 1977. Price — At par.
Business—Operates retail stores selling sewing machines
and
vacuum
cleaners.
Proceeds
working capital. Off ice—122 W.
writer—Standard
Motor
Parts
—
For
26th
expansion
and
St., NYY. Under¬
Securities Corp., N. Y.
Industries,
Inc.
(1/22-26)
working
capital.
Office—900-908 S. Oyster Bay Rd.,
Hicksville, N. Y. Un¬
derwriter—Street & Co., Inc., N. Y. •
Municipal
Investment Trust Fund, First jPa.
Series
(2/26-3/2)
>' '
April 28, 1961 filed $6,375,000 (6,250 units) of interests.
Price—To be supplied by amendment.
Business—The
.
fund
will
invest in tax-exempt bonds of the
Price—$4.
Investment Trust
:V>.,
real .estate
ceeds—For
Bldg., N. Y.
National
Nov.
to
•
Price—$15. Busi¬
company.
Proceeds—
investment
Office—20 Broad
St., New York City.
Higginson Corp., N. Y.
a
the
<
acquisition
of
Busi¬
centers, repayment
Office—Time and Life
Underwriter—Berger-Derman, Inc., N. Y.
new
working capital.
Rolling
(2/13-16)
Mills Co.
22, 1961 filed 200,000 common, of which 120,000 are
offered by the company and 80,000 by stockhold¬
Price—By amendment. Business—Manufacture of
suspension systems, and other specialized roll
be
ers.
steel
.
formed
and
metal
products. Proceeds—For
other corporate
Common¬
repayment, and working capital. Of¬
St., Newark, N. J. Underwriter—Scott,
Harvey & Co., Inc., Fairlawn, N. J.
North America
purposes.
National Semiconductor Corp.
May 11, 1961 filed 75,000 shares of capital stock. Price
—To be supplied by amendment. Business—The design,
development, manufacture and sale of quality transistors
for military and industrial use.
Proceeds — For new
equipment, plant expansion, working capital, and other
corporate purposes. Office—Mallory Plaza Bldg., Danbury, Conn. Underwriters—Lee Higginson Corp., N. Y. C.
"and
Piper, Jaffray & Hop wood, Minneapolis
(mgr.).
Note—This registration has been indefinitely postponed.
National Tel-Tronics Corp.
(1/22-26)
Sept. 11, 1961 filed 133,000 common. Price—$3. Business
—The manufacture of electronic components. Proceeds—
.
repayment of
loan, expansion, new products,, work¬
ing capital and-general corporate purposes. Office—52
St. Casimer Ave., Yonkers, N. Y.
Underwriter—Frank
Karasik
&
Real
a
Co., Inc., N. Y. (mgr.).
Vended Ski Insurance Corp.
30, 1961 filed 550,000 common. Price—By amend¬
ment.
Bu3iness—Distribution
of
coin-operated insur¬
ance
vending machines to brokers at sporting centers.
National
Estate Trust
Nov. 13, 1961 filed 2,000,000 shares of beneficial interest.
Price—$10.
Business—Real
estate
investment
trust.
Proceeds—For
acquisition of property and working cap¬
Office—475 Fifth Ave., N. Y.
Underwriter—None.
ital.
North
Atlantic
Sept. 26,
1961
will be sold by
Price—By
cision
Industries, Inc. (1/15-19)
filed 131,500 common, of which 120,009
the company and 11,500 by a stockholder.
amendment. Business—Manufacture of pre¬
instruments. Proceeds—Repayment of
electronic
debt, new product development, inventory and working
capital. Office—Terminal Dr., Plainview, N. Y. Under¬
writer—G. A. Saxton & Co., Inc., N. Y.
Northern' Virginia
Real
Estate
Investment Trust
Dec.
26, 1961 ("Reg. A") 2,950 shares of beneficial in¬
terest. Price—$100.- Business — Real estate investment.
"Proceeds—For general corporate purposes. Office—Ar¬
lington Trust Bldg., 1515 N,-Courthouse Rd., Arlington,
Va. Underwriter—None.
Y
v
■/*' Northern Wood Products Corp.
Nov.
29,
filed 78,000
1961
—Manufacture
of
Price—$5. Business
common.
wooden
kitchen
cabinets
related
and
appliances. Proceeds — For debt repayment, expansion,
and working capital/ Office—201-221 Godwin Ave., Paterson, N.J. Underwriter—United Planning Corp., New¬
ark, INT. J.
Nutri-Bio
Corp.
Oct. 17, 1961 filed 1,200,000 common. Price—$5. Business
—Distribution and sale of vitamins, minerals and die¬
ers.
Office
Calif.
—
291
Underwriter
S.
—
Proceeds—For selling stockhold¬
Cienega Blvd., Beverly Hills,
Vickers, McPherson & Warwick,
La
Inc., N. Y.
Nutri-Laboratories, Inc. (1/15-19)
Sept. 14, 1961 filed 100,000 common. Price—$5. Business
—The manufacture and distribution of animal foods and
dog products. Proceeds — For marketing of "Doctor's
Choice" brand, working capital and operating expenses.
Office—1511 K St., N. W., Washington, D. C. Underwriter
—Hirschel & Co., Silver Spring. Md.
debt repayment
Office — Morehall Road,
Malvern, Pa. Underwriter—Drexel & Co., Philadelphia.
For
debt
Broad
tary food supplements.
Price—$8.
national chain of bowling centers. Pro¬
Nuveen
Tax-Exempt Bond Fund, Series 2
Feb. 23, 1961 filed $10,000,000 (100,000 units) ownership
certificates. Price—To be filed by amendment. Business
—The fund will invest in
interest bearing obligations of
states, counties, municipalities and territories of the
S., and political subdivisions thereof which are believed to be exempted from Federal income taxes. Pro¬
U.
ceeds
—
investment.
For
Street, Chicago.
Note
—
Public
Office —135
or
Nuveen
South
La
Salle
Sponsor—John Nuveen & Co., Chicago.
This fund formerly was known
Bond
February
as
Tax-Exempt
Trust
Fund, Series 2. Offering
early March.
Tax-Exempt
Bond
Fund,
In late
—
Series
3
Oct. 17, 1961 filed $15,300,000 of units representing frac¬
tional interests in the Fund. Price — By amendment.
Business—The Fund will invest in interest
bearing obli¬
municipalities of the
S., and political subdivisions thereof which are be¬
lieved to be exempted from Federal income taxes. Pro¬
ceeds—For investment. Office—Chicago, 111. Sponsor—
John Nuveen & Co., 135 So. La Salle St., Chicago.
gations
of
states,
counties
and
U.
Oct.
Proceeds—For
Oct. 30, 1961 filed 120,000 class A shares. Price —
By
amendment. Business—Distribution of automobile
parts.
Proceeds
For debt repayment and
—
Estate
investment.
of debt and for
repay¬
of
debt, 'and working capital.
Office—8472 S.
Figueroa St., Los Angeles. Underwriters—Kleiner, Bell
& Co.* Beverly
Hills, Calif, and Hardy & Co., N. Y.
,■/ Molecular Dielectrics, Inc.
(1/22-26)
Sept. 1, 1961 filed 150,000 common, of which 135,000
Real
ness—Operates
ment
'
common.
agencyv Proceeds—For general
Office—4539 Ponce de Leon Blvd.,
Z /National Recreation Corp.
Sept. 27, 1961 filed 337,500 common.
(1/29-2/2)
Proceeds—For
75,000
collection
Underwriter—Lee
Oct. 13, 1961 filed 215,000
common, of which 165,000 are
to be offered by the company and
50,000 by/a stock¬
holder.
Price—By
amendment.
Business—Sale
and
leasing
J'/"'
9, 1961 filed 1,000,000 common.
ness—A
For
■
(1/29-2/2)
June 27, 4961 filed 140,000 common shares.
Price—$6.
Proceeds—To purchase land, construct and
develop about
Rentals
-
'
Clearing House, Inc.
(1/22-26)
Nov.
Estates, Inc.
Mobile
Investing Corp., N. Y.
A")
("Reg.
1961
'National
/
corporate
purposes, new products. Office—899 Main St., Waltham,
Mass. Underwriter—Stanley Heller &
Co., N. Y. Y;/Y
.
Portage, Pa.
—
Underwriter—Armstrong & Co., Inc., N. Y. l
Offering—Expected sometime in February.
:
products
electronic
23,
y::Y'v; *"V:: YvYYY/Y /Miami, Fla.
Nov.. 21, 1961 filed 130,000 common.
Price—$3.
—Research and development of new
repayment, store ex¬
Address
Dec. 26, 1961 filed 200,000 common. Price—$5. Business
—Writing of automobile insurance. Proceeds—For adcli- ;
tional capital and reserves. Office—2147 University Ave.,
St. Paul, Minn. UnderwriterL-None.
•
valve.
debt
capital.
National Family Insurance Co.
Los Angeles. Underwriter—F. L. Rossmann & Co., N. Y.
300,000
working
and
Underwriter—Cortlandt
Proceeds—For debt repayment, in¬
ventory and expansion. Office—1919 S. Los Angeles St.,
Business
Proceeds—For
stores.
pansion
ethyl alcohol and deiivatives and to distill and sell
equipment,
National
ated
amend¬
of women's'dresses.
••Y'.- Missile Valve Corp.
Nov. 24, 1961;.("Reg. A")
Rd.,
Equipment & Plastics Corp (2/15)
Sept. 28, 1961 filed 105,000 common. Price—$5. Business
—Operation of a cleaning and pressing plant and affili¬
^
Price—By
common.
of
industrial and potable alcohol in Nigeria. Proceeds—For
fice—1060
.
working capital. Office—8719
Silver
Spring,
Md.
Underwriter—
Guardian Investment Corp., Washington, D. C.
Corp.,
Y-Y
(2/13-16)
100,000
-
Proceeds—For
—Colesville
repayment
and
working
capital. 'Office—9-11:
Cleveland St., Valley Stream, N. Y.
Underwriters—T.
M. Kirsch Co., Inc., N. Y. and I. R. E. Investors
YY
Price—$5.50.
Nigeria Chemical Corp. (2/5-9)
Dec. 7, 1961 filed 90,000 common. Price—$5. Business
—Company plans to construct a plant for production
Oct.
debt
v"
capital shares.
Capital Acceptance Corp. (1/15-19)
20, 1961 ("Reg. A") 150,000 class A common. Price
—$2. Business—Purchase of second trust notes and other
(2/5-9)("Reg. A") 150,uuu class A shares. Price—
$1.
Business—Manufacturer of precision metal com¬
ponents, assemblies and sub-assemblies. Proceeds—For
'
150,000
M
National
Components, Inc.
;
1961 filed
;
(2/5-9)
writer—Edward Lewis & Co., Inc., N. Y.
Gladwyne, Pa.
Nov. 17, 1961
Levittown, N. Y. ,./Y
21,
Bowling Lanes, Inc.
Business—The operation of bowling centers. Proceeds—
For expansion, repayment of loans, and working capi¬
tal.
Office — 220 S. 16th Street, Philadelphia.
Under¬
Underwriter—Seymour Blauner Co., N. Y.
•
National
July
.
Proceeds
Office—1400
purnoses.
and
Pearson, Murphy &: Co., Inc., N. Y.
20, 1961
100,000 capital shares. Price—
Business—Manufacture of switches and other elec¬
$3.
Price—$8. Business
missile industries. Pro¬
common.
Nuveen
Oct.
17,
Tax-Exempt
1961
filed
fractional interests in
Bond
$15,000,000
the Fund.
Fund, Series 4
of units representing
Price—By amendment.
obli¬
inventory, advertising and working capi¬
tal.
Office—420 Lexington Ave., N. Y.
Underwriter—
Pacific Coast Securities Co., San Francisco. Offering—
gations of states, counties, and municipalities of the U. S.,
Expected sometime in February.
to
be exempted
•
Oceanic
•
Nationwide
Bowling Corp. r( 1/29-2/2) .- ^
19, 1961 filed 100,000 capital shares (with attached
warrants). Price—By amendment. Business—The oper¬
ation of bowling centers. Proceeds—For a realty acqui¬
sition and working capital.
Office — 11 Commerce St.,
Newark, N. J. Underwriter—Warner, Jennings, Mandel
Oct.
&
Longstreth, Philadelphia.
Business—The Fund will invest in interest-bearing
subdivisions thereof which are believed
from Federal income taxes. Proceeds—
For
investment.
Office—Chicago, 111. Sponsor—John
Nuveen & Co., 135 So. La Salle St., Chicago.
and
political
Instruments, Inc.
—The
company
Price—$1. Business
plans to manufacture scientific marine
.
»
(1/15-16)
Aug. 24, 1961 filed 140,000 common.
Continued
on
page
42
42
Continued
ffir
from page 41
provide consultation services. Proceeds
organizational expenses and purchase of equip¬
Office—1515 Norton Bldg., Seattle. Underwriter—
Instruments and
—For
ment.
Globus, Inc., N. Y.
O'Day Corp.
Dec.
Manufacture
—
12,000 common. Price
("Reg. A")
1961
29,
Business
Proceeds—For
sailboats.
Newbury St., Boston.
—
$25.
and distribution of fiberglass
working capital. Office—Nine
Underwriter—None.
Oiynrtpia Mines, Inc. (1/22-26)
Sept. 1, 1961 filed 300,000 capital shares. Price—$1.35.
Business—The exploration and development of mines.
.
Proceeds—For mining operations.
Underwriter
Brooklyn, N. Y.
—
Office—44 Court St.,
Gaumont Corp., Ltd.,
Toronto.
Optech, Inc.
Dec. 26, 1961 filed 160,000 common. Price—$3. Business
—Research, development and fabrication of materials
used in
optical electronics. Proceeds—For equipment
and working capital. Office—246 Main St., Chatham,
N: J. Underwriters—Stone, Ackerman & Co., Inc., and
Equity Corp., N. Y.
Heritage
•
Financial Chronicle
The Commercial and
(206)
construction
Plymouth Discount Corp. (1/29-2/2)
28, 1961 ("Reg. A") 100,000 common.
Business—Consumer
,,
•
(2/13-16)
Orion Electronics Corp.
Dec.
precision electronic sub-sys¬
tems for the generation, detection and control of fre¬
quencies up through the microwave region. Proceeds—
For expansion, equipment and working capital. Address
—Tuckahoe, N. Y. Underwriter—A. D. Gilhart & Co.,
Inc., N. Y. C.
ness—The manufacture of
Orlando
Oct.
Corp. (2/5-9)
("Reg. A") 80,000 common.
Paper
1961
11,
Price—$2.50.
Business—Manufacturer of miscellaneous paper products.
debt repayment and general corporate
Office—Oceanside, L. I., N. Y. Underwriter—
Professional & Executive Planning Corp., Long Beach,
Proceeds—For
Inc.
(2/26-3/2)
pansion and debt repayment. Office—6701, N. Broad St.,
Philadelphia. Underwriter—Blair & Co^'f Inc., N. Y.
Nov.
-
.
24, 1961 filed 5,000,000 units.
—An investment trust.
Oxford Distributor Corp.,
Ozon
Products, Inc.
Business
Price—$1.
Office—Atlanta, Ga.
Atlanta.
Sponsor-
.
(1/15-19)
Sept. 28, 1961 filed 105,000 common. Pirce—By amend¬
ment. Business—Manufacture of toiletries and cosmetics.
Proceeds—For
repayment of debt and working capital.
Office—50 Wallabout St., Brooklyn, N. Y. Underwriter
;
—Carter, Berlind, Potoma & Weill, N. Y.
PCS Data
Processing, Inc.
Oct. 6, 1961 filed 100,000 common of which 50,000 are to
be
offered
by the company and 50,000 by stockholders. *
Business—Furnishing of statistical infor¬
Price—$3.75.
Proceeds—For
mation.
training personnel, new equip¬
ment, expansion and working capital. Office—75 W. St.,
N. Y. Underwriters—Harry Odzer Co., N. Y., and Lenchner, Covato & Co., Inc., Pittsburgh, Pa. Offering—Ex¬
pected sometime in February.
;
w:
Products
P-G
Manufacturing Co., Inc.
110,055 common. Price—By amend¬
ment. Business — Manufactures appliance replacement
parts and accessories. Proceeds — For debt repayment,
expansion and working capital. Office—230 E. 162nd St.,
N. Y. Underwriters—Kahn & Peck, Cohn, & Co., N. Y.
•
Oct.
P. & H. Tube Corp.
Oct. 25,
1961 filed 120,000
rants to
purchase 60,000 additional shares) to be offered
Price
common
(with attached
war¬
in units consisting of two shares and one warrant.
—$12 per unit.
welded
ance
ment
and
Business—Manufacture of electric resist¬
tubing. Proceeds—For debt repay¬
steel
working
capital. Office—413 Hamilton Rd.,
City, La. Underwriters—Howard, Weil, Labouisse, Friedrichs & Co., New Orleans and Clark,
Landstreet & Kirkpatrick. Inc., Nashville.
Bossier
Pacific
Oct. 26,
Big Wheel
100,000
1961 filed
Price—By amend¬
common.
Business—Sale and installation of automobile ac¬
cessories. Proceeds—For expansion and working capital.
ment.
Office—6125 El Cajon Blvd., San Diego.
N. C. Roberts & Co., Inc., San Diego.
Pacific Nutrient & Chemical Co.
Sept. 15, 1961 filed 120,000
common.
Underwriter—
(1/15-19)
Price—$4. Business
—The manufacture and' sale of chemical
fertilizers, ani¬
mal nutrients, crop seeds, insecticides, etc.
Proceeds—
For additional equipment, a new plant and
working
capital. Office
Wash.
—
North
Underwriter
—
Oak and Hazel St.. Burlington.
Paul
Eisenburg & Co., Inc., and
Magnus & Co., Inc., N. Y.
Pacific
States
Steel
Corp.
June 21, 1961
filed 100,000 outstanding shares of capital
(par 50 cents) to be sold by stockholders. Price—
Business—The manufacture of steel products. Pro¬
stock
$6.
ceeds—For
the
selling stockholder. Office—35124 AlvaCity, Calif. Underwriters—First
rado-Niles Road, Union
California Co.. Inc., and Scbwabacher & Co., San Fran¬
cisco
Pal-Pfaywell
Inc.
28, 1961 filed 100,000 common. Price—$4. Business
—Design, assembly and manufacture of toys. Proceeds—
'
Silver
Spring,
Md.
Affiliates, Inc. (2/5-9)
16, 1961 filed 200,000 capital shares.
N. W.,
Underwriter—D.
Washington, D. C.
Polytronic Research,
development,
Inc.
and: production of certain
missiles, oscilloscopes,
engineering
electronic
electronic vending machines and language
Patent
;
22, 1961 filed 100,000 common (with attached fiveyea^WailfShts to purchase an adaitioiiarl00,060 shares)
units of
be sold in
one
Oct.
per
Proceeds—For equipment,
Throop
••'
D.
C.
Underwriter—Sidney
Dec.
ment.
Ave.,
Washington, D. C.
etc. Proceeds—For repayment
working
capital.
Automotive Components
Office-r-352
Fuller
;\r
Co.
28, 1961 filed 100,000 common. Price—By amend¬
Business—Manufacture of carburetor replacement
Underwriter—G. H. Walker & Co., Inc.,
Price—$2.20
•
Office—7500 S. Garfield
are
and
derwriter—Dempsey-Tegeler & Co., Inc., St. Louis. Of¬
>
Price—By amendment. Business—Development
of instrumentation magnetic tape re¬
manufacture
St., San Carlos, Calif. Underwriters—Lehman
and J. Barth & Co., San Francisco.
Brothers,
N. Y.
President Airlines,
:
-
N. Y.
(2/13-16)
cording equipment. Proceeds—For debt repayment, con¬
struction and working capital. Office—1011 Commercial
Proceeds- -For
Property Leasing Co.
s
1
■
'
Oct. 13, 1961 filed $2,000,000 of conv. subord. debentures
due ,1976.
Price—By amendment. Business—Leasing of
equipment to industrial and commercial firms. Proceeds
—For purchase of equipment and collateral for bankcredit. Office—6381 Hollywood Blvd., Los Angeles. Un.
Instrument Co.
28, 1961 filed 125,000 capital shares of which 111,000
to be offered by the company and 14,000 by stock¬
holders.
N. W., Washington,
Mensh Securities Co.,
.Personal
Precision
Dec.
St.,
Z.
y **
22, 1961 filed 160,000 class A common, of which
133,333 are to be offered by the company and 26,667 by
present stockholders. Price—By amendment. Business—
Warehouse distribution of corrosion resistant stainless
Precision
(For the balance) Net asset value plus 8% commission.
Eye
J
St., Passaic, N. J. Underwriter—S. D.
&rCo., N. Y*
Perpetual Investment Trust
Nov. 9, 1961 filed 500,000 shares of beneficial interest.
Price—(For the first 10,000 shares) $10.80 per share.
Office—1613
1
«
Harrison
Ave., Bellgardens, Calif. Underwriter—Darius Inc.,N.Y.
investment.
.
(2/13-16)
Products Co.
steel pipe, tubing, valves,
of debt, expansion,
and
;
Business—Manufacture of solid state electronic devices.
Business—A real estate investment trust.
Co., N. Y.
parts.
Proceeds — For debt repayment, retirement of
6% pfd., and working capital.
Address — Ballwin, Mo.
Sept. 28, 1961 ("Reg. A") 135,000 common.
capital.
&
Nov.
.
Pennon Electronics Corp.
Proceeds—For working
By
books
purposes.
Power Industrial
working capital and
general corporate purposes. Office—199
Brooklyn, N. Y. Underwriter—None. '- ;
—
Office—355
Bros.
it Penn Amusement Corp.
Dec. 29, 1961
("Reg. A") 100,000 common. Price—$3.
Business—Operation of amusement rides mounted on
trucks.
Inc. (1/15-19)
filed 127,500 capital shares. Price
Business—Publishing of paperback
magazines. Proceeds—General corporate
Lexington Ave., N. Y. Underwriter—Sutro
and
.
Co., Inc., N. Y. Offering—Temporarily postponed.
17, 1961
amendment.
Pellegrino Aggregate Technico, Inc.
Aug. 10, 1961 filed 130,000 class A common shares. Price
—$5. Business—The manufacture of building materials.
Proceeds—For payment of income taxes and loans and
for working capital. Office—Woodbridge-Carte ret Road,i
Port Reading, N. J. Underwriter—Mortimer B. Burnsida
&
teaching ma¬
expansion, repayment of debt and
Popular Library,
share and one warrant. Price
unit. Business—Company plans to market
patented products, or products which it considers to be
patentable. Proceeds—For general corporate purposes.
Office—521.5th Ave., N. Y. C. Underwriter—Hampstead
Investing Corp., N .Y.
—$3.50
aircraft,
Co., Washington, D. C. Note—This offering was post¬
poned indefinitely*-v "
V-
-■
Nov.
to
for
working capital. Office—7326 Westmore Rd., Rockville,
Md* Underwriters—Jones, Kreeger & Cow and Balogh
"
Merchandising1 Corp.'V'
devices
chines. Proceeds—For
2301 Pennsylvania Ave., Philadelphia.
Y.
Price—$3.25.
amendment. Business—Research and
holders. Price—By
6, 1961 filed 160,000 common. Price—$5. Business
of drugs and pharmaceuticals. Proceeds
For an acquisition, research and other corporate pur¬
—
-
Underwriter—Balogh & Co.,
Dec.
Office
,
June 7, 1961 filed 193,750 common shares, of which 150,000 will be sold for the company and 43,750 for stock¬
E. Liederman &
Underwriter—Arnold Malkan.& Co., Inc., N.
./
>
Inc., Washington, D. C.
Parkway Laboratories, Inc.
poses.
& Co., Bos-
:'V: ./.y-:;,'/
•
Poiicy-Matic
Oct.
Offering—Expected in February.
Co., Inc., N. Y.
;
Business—Leasing of insurance vending machines. Pro¬
ceeds—General corporate purposes. Office—1001 15th St.,
•
27, 1961 filed 135,000 common. Price—$6. Business
—Financing of commercial accounts receivable. Pro¬
ceeds—For debt repayment. Office—8650 Cameron St.,
June
!
<
/
Inc.
13, 1961 ("Reg A") 150,000 crass A common
shares
^par one cent). Price—$2. Business—Air transportation
of passengers and cargo. Proceeds—For payment of cur¬
taxes; payment of balance on CAB
working capital.
Office ■— 630 Fifth
Avenue, Rockefeller Center, N. Y. Underwriter—Continental Bond & Share Corp., Maplewood, N. J. Note—
This offering has been temporarily postponed.
"
rent
liabilities
certificate
r
.
and
and
fering—Imminent.
Prestige Capital Corp.
1
Oct. 19, 1961 filed 200,000 common. Price—$5. Business
Philippine Oil Development Co., Inc.
—A small business investment company. Proceeds-—For
Sept. 25, 1961 filed 95,270,181 capital shares to be of¬
fered for subscription by common stockholders on the /investment. Office—485 Fifth Ave., N. Y. Underwriters
—D. Gleich & Co., N. Y., and Laird, Bissell & Meeds.
basis of one new share for each six held of record Sept.
9. Price—One cent. Business—Exploration for oil in the
Wilmington, Del.
v'
Philippines. Proceeds-^-Repayment of debt and the drill¬ f
Pride Industries, Inc. Cl/16)
ing of test wells. Office—Manila, Philippines. Under¬
Aug. 29, 1961 filed 75,000 common. Price—$5. Business
writer—None.
—The sale of pet foods. Proceeds—For inventory, repay¬
Pierce Proctor Schultte & Taranton
ment of a loan, machinery, new products, advertising,
.
.
Investment Co.,
Inc.
filed $465,000 of 10-year 8% debentures.
Price—$15,000 per debenture. Business—The company
plans to organize and sell real estate syndicates. Pro¬
Dec.
Central
Pioneer
be
—Steven
stockholder.
Primex
Philadelphia. Underwriter
Corp., BMa Cynwyd, Pa.
Equities Corp.
V^
'*
filed 125,000 common, of which 75,000 are
by the company and 50,000 by a selling
Price—By
—None.
general corporate
purposes.
Office—1807 N.
Underwriter—None.
Restaurants, Inc. V
offered
Investment
400,000 shares of 60c cumulative con¬
and 400,000 of class A common, to
be offered in units of one share each. Price—By amend¬
ment.
Business—A real estate investment firm.^Pro¬
ceeds—For property acquisitions and working capital.
Office—66 Hawley St., Binghamton, N. Y. Underwriter
Ave., Phoenix.
Dec. 21, 1961
to
Office—4408 Fairmount Ave.,
.
20, 1961
ceeds—For
(mgr.). Offering—Indefinitely postponed.
Nov.
and
Additional equipment, debt repayment
Parker Finance Corp.
1961 filed
10,
—
•
Oct.
v
Nov. 28, 1961 filed 200,000 common. Price—By amend¬
ment. Business—A finance company. Proceeds—For ex¬
Oxford Trust Fund
Hemphill, Noyes & Co., N. Y. and Estabrook
ton.
.
—Manufacture
J. Roberts & Co., East Orange, N. J.
Oxford Finance Cos.v
>
(1/23)
working capital. Office—Mercer and Arnot Sts., Lodi,
N. J. Underwriter—Fialkov & Co., Inc., N. Y.
; ;
purposes.
N. Y., and E.
/
Sept. 25, 1961 filed 137,500 common. Price—By amend¬
ment. Business—The manufacture of polyester foams,
Proceeds
by-stockholders.
amendment. Business—Manufacture of precision hydraulic, pneumatic and mechanical equipment
for marine, aircraft, ordnance and industrial use. Proceeds—For acquisition of a company and working cap¬
ital. Office—3781 E, 77th St., Cleveland. Underwriter—
Price—By
home
Industries
.
(2/19-21)
22; 1961 filed .150,000 common,, of which 100,000 are
I to be offered by the company and 50,000
of loans
Paramount Foam
•
Aug. 28, 1961 filed 100,000 common. Price—$3.50. Busi¬
Price—$3.
financing. Proceeds—For re¬
Dynamics Corp.
Fneumo
building materials. Proceeds—For repay¬
and working capital. Office—499 Jericho
Turnpike, Mineola, N. Y. Underwriter—None. Note—
This registration will be withdrawn.
ment
sales
capital. Office — 2211
Underwriter^-M. Posey
Ltd., 50 Broadway, N. Y. v
-
Associates,
filed $1,000,000 of 15-year sinking fund
1976 (with warrants attached) and 100,to be offered in 10,000 units each consist¬
ing of
precut
-Conn.
payment of notes and working
Church Ave., Brooklyn, N. Y.
1961
Proceeds—For
stockholders. Office—512 Seventh Ave., N. Y.
Underwriter—Dempsey-Tegeler & Co., Inc., St. Louis,
Mo.
' -V
.Vv'. *'
the selling
general corporate
1883 Dixwell Ave., JIamden,
Y.
—
Aug.
10 common and $100 of debentures. Price—By
amendment. Business—The packaging and direct sale of
ness—The manufacture of women's coats.
industry. Proceeds—For
Office
Underwriter—Blair & Co., Inc., N.
debentures due
common
>"
:.; -V
15,
purposes.
Paragon Pre-Cut Homes, Inc.-
000
(1/29-2/2)
Corp.
Piasticrete
1961 filed 160,000 common. Price—By amend¬
ment. Business — Manufactures masonry units for the
Inc.
(1/22-26)
Aug. 29, 1961 filed 150,000 common. Price—$9.25. Busi¬
Original Inc.
.
.
Nov.
Office—200 W. 57.th St., N. Y. Underwriter—
Co., 2166 Broadway, N. Y. ^
25,
prefabricated
of
—
(1/29-2/2)
Dec. 1, 1961 ("Reg. A") 60,000 common. Price—$5. Busi¬
ness^—Development and sale of chemical processes used
in the field of paper coating. Proceeds—For general cor¬
porate purposes; Office—443 W. 15th St., N. Y. Under¬
writer—Edward Lewis Co., Inc., N. Y.
•
Aug.
.
.
components.
R. J. Curylo
:Papekote,
,
wood and plastic specialized
Proceeds—For general corporate purposes.
Office
1182 Broadway, N. Y. Underwriter — Arnold
Malkan & Co., Inc., N. Y. Offering—In February.
*
—Sale
Dec. 15, 1961 filed 100,000 common. Price—$3. Business—
Production of films. Proceeds
For general corporate
purposes.
1
.
,
Price—$5. Business
28, 1961 filed 62,000 common.
Nov.
.
Inc.
,
Pir-O-Wood Industries, Inc.
.
Productions,
Underwriter—Stewart, EuFrancisco.
banks, Myerson & Co., San
Pulp & Paper Corp.
June 28, 1961 filed 1,000,000 common. Price—$3.45. Busi¬
ness—The growth of timber. Proceeds—Working capital
and the possible purchase of a mill. Address—Box 199,
Orangeburg, S. C. Underwriter — Stone & Co. c/o E.
Lowitz & Co., 29 Broadway, N. Y
Pan-Video
Sacramento, Proceeds
and working capital. Office
in
expansion, debt repayment
-r-1626 J St., Sacramento.
Palmetto
-
1962
Thursday, January 11,
.
restaurants
six
of
tion
debt repayment and working capital. Office—179-30
931^ Ave., Jamaica, N. Y. Underwriter—Tyche Securi¬
ties, Inc., N. Y.
*
:
.
.
amendment.
Business—Opera¬
-
Nov.: 27, 1961 filed
vertible preferred,
•
i
Volume
195
Number 6124
.TheCommercial and Financial Chronicle
.
.
(207)
•
Printing Corp.. of America
Bee. 28,
ment.
1961
(2/26-5/2).
filed 454,OuO common.
penses, expansion, advertising and promotion, repayment
of debt and working capital.
Office—29-14 Northern
Price—By amend¬
Business—Printing of trade and business periodi¬
Blvd., Long Island City, N. ,Y.
Walker & Co., Inc., N. Y.
cals and textbooks by
lithography. Proceeds—For selling
stockholders. Office—71 W. 35th St., N. Y. Underwriter
•
Product Research
of
Rhode
July 28, 1961 filed 330,000
Business —The
in
used
Island,
of
Proceeds—For
snares.
common
manufacture
vinyl
the
Price—$2.05.
plastic products
household fields.
Programming and Systems, Inc.
Price—$3.50. Busi-
common.
'
computer programming and
operation of electronic data processing machines.
Proceeds—For expansion. Office—45 W. 35th
St., N. Y.
Underwriter—D. M. Stuart & Co., Inc., N. Y.
the
Programs For Television, Inc.
Aug. 29, 1961 filed 150,000 common. Price—By amend¬
ment.
Business
The
—
distribution
of
Co.,
•
Puerto
general
Rico.
—
Mo.
-
N.
Proceeds
Puerto
24,
Rico
1961
Land
filed
and
ter
Development Corp.
$4,000,000 of 5%
conv.
subord.
•
de¬
due 1971 and 200,000 class A shares to be of¬
25,000 units, each consisting of $160 of deben¬
tures and eight shares.
Price—$200 per unit.
Business
—
For
was
—
("Reg. A")
260,000
Debt
temporarily postponed.
Reher Simmons
FuHp Processes Corp.
Sept. 20, 1961 filed 140,000 common. Price—$5. Business/
—Development of pulping and bleaching devices. Pro¬
• Renta Camera International
ceeds—General
Proceeds—For
Dec.
v
Proceeds—For
1961, ("Reg. A'.') ,,50,000
and
rental /of
general
v.-
•
Research
4/;
»
common.
Price
—
$3.
cameras and
corporate
S. Beverly Dr., Beverly
purposes.,
Office—250
Hills, Calif. Underwriter—None.
Products, Inc.
Dec. 28, 1961
Jan. 2, 1962 ("Reg. A") 300,000
common.-Price—$1. Busi¬
ness—A general contractor for the construction of
build¬
ings.
28,
Business^—Sale
corporate purposes. Office—Hoge Bldg.,
-.V
Price—$1.15.
! and
Seattle, Wash. Underwriter—Wilson, Johnson & Higgins,
filed 250,000 common. Price—$9. Business
lithographic blankets used in printing.
—Manufacture of
'Proceeds—For
debt
repayment and
working capital.
Rey, Puerto Rico. Underwriters—Gross
& Co., N. Y. and Elmaleh & Co., InC.
Address—Hato
debt
repayment and general' cor¬
porate purposes. Office—1645 Guardian
Bldg., Detroit,
Mich. Underwriter—None. --
• Rex Craft Associates, Inc.
27, 1961 ("Reg. A") 100,000 common. Price — $3.
Business—Design, installing and constructing, packaged
ment.
Business—Publication and sale of pocket-size
commercial interiors and exteriors for buildings. Pro¬
ceeds—For general corporate purposes. Office—Route 315
paperback books and a man's magazine. Proceeds—For
& Vine St., Avoca, Pa. Underwriter—M. G. Davis &
expansion, debt repayment, and working capital. Office
Co.,
—444
Madison
Ave., N. Y.
Inc., N. Y.
• /./, ,
Underwriter—Milton D.
'/;V - ///' /
/
Blauner & Co., Inc., N. Y. • /; ■-*■■■
•//'•■ • Richmond Corp.
';
/Dec. 21, 1961 filed 142,858 common. Price—$7. Business
^ Pyroil Co., Inc.
Jan. 2, 1962 ("Reg. A") 30,000 common.
;—A real estate investment company. Proceeds—For debt
Price—$5. Busi¬
ness—Manufacture, of additives for gasoline, motor oils,
repayment and gene-al corporate purposes.. Office—220
Pyramid Publications, Inc. (2/13-16)
Nov. 24, 1961 filed 115,000 common.
Price—By amend¬
-Dec.
.
•
,
Rocket Power,
Inc.
Sept. 20, 1961 filed 200,000
common.
Price—By amend¬
Business—Development and manufacture of solid
propellants, rocket motors, rocket catapults and related
ment.
products. Proceeds—To repay debt/Office—Falcon
Field,
Mesa, Ariz. Underwriters—Paine. Webber. Jackson &
Curtis and Prescott & Co., N. Y.
Offering—Imminent.
•
Rodale Electronics, Inc. (1/29-2/2)
Sept. 29, 1961 ("Reg. A") 60,000 common. Price—$5.
Business—Manufacture of electronic equipment. Pro¬
ceeds—Debt repayment, new
products, equipment, sales
promotion and advertising.
Office — 562 Grand Blvd.,
Westbury, N.Y. Underwriter—Charles
Plohn &
Co., N.Y.
(John) Co.
Oct. 24, 1961 filed $600,000 of 6%
conv. subord. deben¬
tures due 1976 and 120,000 common shares to be offered
in units consisting of one debenture1
and two shares.
Price—$25
per unit. Business—Sale of rebuilt automobile
engines and reground crankshafts to automobile parts
jobbers. Proceeds—For working capital and general cor¬
porate purposes. Office—1060 Huff Rd., N.
W., Atlanta,
Ga.
common.
plant construction, equipment, research
development, sales promotion and working capital.
Co.,/ (Office—545; Broad St., Bridgeport, Conn."Underwriter
—McLaughlin, Kaufmann & Co., N. Y. (mgr.).
New York.
/v;■;/
• Pulte-Strang, Inc. >•
v;'/ '//:■//'
/•"/ _•/ •/
Proceeds—For
general
corporate purposes. Office—San Juan, Puerto Rico. Un¬
derwriters—Lieberbaum & Co., and Morris Cohon &
San Francisco.
-
Research, Inc. (1/22-26)
May 8, 1961 filed 150,000 shares of capital stock. Price—
$6 per share. Business—The research and development
of processes in the field of surface and
biochemistry.
bentures
fered in
—Real estate and construction. .Proceeds
/ '/'/"••;■.
repayment, building improvements,
equipment, research and development, and working cap¬
ital. Office—Industrial
Park, Red Wing, Minn. Under¬
writer—York &
Mavroulis, Minneapolis. Note—This let¬
Y.
Offering—Imminent.
Nov.
;;//
Wing Fiberglass Products, Inc.
July 28, 1961
corporate purposes. Address—San Juan, Puerto
Grimm,
v
Red
investment company; Proceeds—For
Co., Cleveland.
Rogers
Inc. (2/5-9)
Oct. 19, 1961 filed 75,000 class A shares. Price
By
amendment. Business—Operates record, card and sta¬
tionery departments in discount stores. Proceeds—For
expansion. Office—1211 Walnut St., Kansas City, Mo.
Underwriter—Midland Securities Co., Inc., Kansas City,
Reco
Underwriter—Hill, Darlington f'&
Underwriter—Sutro Bros. & Co.,
i/t
Leasing Corp.
equipment, and sup¬
plies to schools, hotels, hospitals and industrial com¬
panies. Proceeds—For working capital. Office—8
Jay
St.* Rochester, N. Y. Underwriter—Saunders, Stiver &
Price—
Recco,
Co., Inc.^N. Y. and Roth & Co., Inc.,
Offering—Expected sometime in Feb.
business
unit for each 20 shares held.
one
Ave., N. Y.
New York.
Inc.
Capital Corp. ;°
Sept. 13, 1961 filed 750,000 common. Price—$10. Business
—A small
corporate
Business—General real estate and con¬
Proceeds—General corporate purposes. Office "
—666 Fifth
&
Philadelphia.
general
unit.
per
struction.
quisition and other corporate purposes. Office—1106 Con¬
necticut Ave., N. W.,
Washington, D. C. Underwriters—
Treat
the basis of
$100
films for motion
Nov. 28, 1961 filed 541,000 common.
Price—By amend-,;
me'nt. Business—Book publishing. Proceeds—For an ac¬
Amos
and
Raritan Rd., Oakland, N. J. Underwriter—Gianis
& Co..
Inc., N. Y. :
•
,
:V '•'>
VRealty Equities Corp. of New York (1/15-19)
Sept. 28, 1961 filed $1,675,800 of subord. debentures due
1971 (with warrants attached) to be offered for
subscrip¬
tion by stockholders in 16,758
units, each consisting of
$100 of debentures and a warrant to purchase 12.5 shares
on
pictures and television. Proceeds—For repayment of debt
and working capital. Office—1150 Avenue of the
Ameri¬
cas, N. Y. Underwriter—To be named.
Publishers
repayment
Raritan Plastics'Corp.
(1/29-2/2)
Sept. 28, 1961 filed 100,000 class A common. Price—$5.
Business—Extrusion of plastic sheets.
Proceeds—Equip¬
ment, debt repayment and; working capital.
Office—1
Nort Providence, R. 1. Underwriter—Continental
Bond
& Share Corp.,
Maplewood, N. J.
1961 filed 40,000
ness—Instructs classes in
debt
St., Long Island City, N. Y.
Underwriter—Herbert Young & Co., Inc., N. Y.
automotive, marine and
repayment of debt, new equipment and
working capital. Office —184 Woonasquatucket
Avenue,
11,
Rochester Capital
Oct. 30, 1961 filed
$625,000 of 6% convertible subordi¬
nated debentures due 1972 and
100,000 class A to be
offered in 12,500 units each
consisting of $50 of deben¬
tures and eight shares. Price—$90
per unit. Business—
Manufacture and sale of
furniture,
purposes. Office—-37-02 27th
Proceeds—For
Oct.
delphia.
Rapid Film Technique, Inc. (1/22-26)
Sept. 19, 1961 filed 70,000 common. Price—$4. Business
<—The rejuvenating and repairing of motion
picture film.
Inc.
Chicago., and Schmidt, Roberts & Parke, Phila¬
mons,
Underwriter—Rodetsky,
•
—Goldman, Sachs & Co., N. Y.
43
Underwriters—Robinson-Humphrey Co., Inc.,
and
Courts & Co., Atlanta.
Rona
Plastic Corp.
15, 1961 filed 200,000 common. Price—$5. Business
—Manufactures plastic housewares, baby products and
other plastic items. Proceeds—For debt
repayment and
other corporate purposes.
Office—1517 Jarrett Place,
Bronx, N. Y. Underwriter—Arnold Malkan & Co., Inc.,
Dec.
N.
Y.
• Rooke Engineering Corp.
Jan. 5, 1962 ("Reg.
A") 120,000
common.
Business—Fabrication
metals.
expansion.
Adams
&
exotic
of
Price—$2.50.
Proceeds—For
Office—Los Angeles, Calif. Underwriter—
Co., Los Angeles. Offering—Expected in late
Feb.
Roth
Greeting Cards
1961 (f'Reg. A?r) 100,000 common. Price—$1.50.
Business—Design, production and sale of "contemporary"
greeting cards. Proceeds—For design and introduction
of new greeting card line and
working capital. Office
—504
E.
Broadway, Glendale, Calif. Underwriters—
R. E. Bernhard t Co.,,
Beverly Hills, Calif.; Schaefer,
Lowe & McCamant, Inc., San
Francisco; Costello,. Russotto & Co.,. Los Angeles; Amos C. Sudler &
Co., Denver;
G. H. Musekamp &
Co., Cincinnati and V. E. Anderson
& Co., Salt Lake City,
Dec. 26,
,
Roto
Nov.
,
16,
1961
Inc. (1/22-26)
("Reg. A") 60,000 common.
Business—Custom
debt
~
Cylinders,
repayment
myra,, N.
J.
engraving.
working capital.
gravure
and
Price—$5.
Proceeds—For
Address—Pal¬
Underwriter—Woodcock, Moyer, Fricke &
French, Inc., Philadelphia.
.
,
.
K
etc. Proceeds—For debt repayment and
general corpor¬
ate purposes. Address—La
Loewi &
&
Crosse, Wis. Underwriters—
Co., Inc. and J. M. Dain & Co., Inc., Milwaukee.
Ridge Tool Co. (3/15)
Dec> 28, 1961 filed 284,586 class A
Industries, Inc. / * /
Nov. 28, 1961 filed 87,500 common.
Price—$4. Business
—Design and manufacture' of metal cabinets, boxes,
and
Ridgerock of America, Inc.
29,
1961
filed
100,000
Dec.
Price—$1.
brake shoes.
Proceeds—For general corporate
purposes!:/
Blvd.; Farmingdale,' N. Y. Underwriter
-^-Meadowbrook Securities, Inc.,
Hempstead, N. Y.
/
Brothers &
Office—94 Gazza
Quariiie Creative Corp.
—Manufacture
—For
research,
of
home
new
products.
..
Interonics, Inc.
filed
and
(1/29-2/2)
40,000
Price—$5. Business
frequency interference filters
capacitors. Proceeds—For equipment, working
cap¬
of
common.
Oceanside, N.
N.,Y.
Y.
Underwriter—Arnold Malkan
J
.
Court,
&
.
mobile racing center.
poses.
Office—21
N.
-
writer—None.,/
.
_
A
400,000 common/Price—By amend¬
Business—Design, manufacture and sale of mobile
homes and office trailers. Proceeds—For
general cor¬
porate purposes. Office—139 W. Walnut Ave., Gardena,
Calif. Underwriter
Vickers, MacPherscfti &
-
Proceeds—General corporate pur¬
7th St., Stroudsburg, Pa.
Under¬
—
Inc., N. Y.
1
Warwick,
<
.
;
Roberts & Porter, Inc.
Nov. 20, 1961 filed 80,200
common, of which
to be offered by the company and
63,520
Sept. 28,
ment
Photo
1961 filed
Laboratories, Inc.
150,000
common.
Business—Processing of film
photographic
equipment.
16,680 are
by stockhold¬
.
ers.
Rainbow
Corp., N. Y.
filed
26, 1961
ment.
Co.,
Racing Inc.
' •/*■'
/
Oct. 16, 1961 filed
1,250,000 common. Price—Up to $4.
Business—Company plans to build and operate an auto¬
metal
Roadcraft Corp.
Dec.
/.'/./
^
Price—By amendment. Business
Jackson & Curtis and American Securities
radio
ital and other corporate
purposes. Office—15 Neil
Ripley and
consisting of one
and plastic heels for women's
molds and dies, bowling pins, bowling
shoes and related products. Proceeds—For general cor¬
porate purposes. Office—4067 Folsom Ave. St. Louis and
Rio Piedras, Puerto Rico.
Underwriters—Paine, Webber,
shoes,
*,
30, -1961
Inc.
(1/15-19)
Price—By amend¬
and
distributing of
Proceeds—For
moving
ex¬
Price—By amendment.
ized
photographic, plate making and
Business—Sale,joi/special¬
press: room
sup¬
plies and equipment to the graphic arts industry. Pro¬
ceeds—For working capital.
Office—4140 W. Victoria
Ave.,
Chicago,
111.
•
Rubber & Fibre Chemical Corp.
(2/5-9)
Sept. 25, 1961 filed 120,000 common. Price—$5. Business
—Exploitation of a new process for reclaiming unvulcanized rubber. Proceeds—Purchase of equipment and
existing plant building, repayment of debt, and working
capital. Office—300 Butler St., Brooklyn, N. Y. Under¬
writer—Armstrong & Co., Inc., N. Y.
• Ruby Silver Mines,
2, 1962 ("Reg. A")
Jan.
cents.
Inc.
2,400,000
common.
Price—121/*
Business—Exploration and development of
deposits.
Proceeds—For
corporate
purposes.
mineral
debt
repayment and general
Address—Box 1088, Wallace, Idaho.
Underwriter—Pennaluna & Co., Spokane, Wash.
share of each company.
—Manufacture of wood
products and working capital.
Co.", N. Y.
Oct.
,v; >
Inc., and Jomar Plastics,
100,000 of Jomar to be offered in units
Proceeds
Godfrey, Hamilton, Taylor &
—Ij/Tanufacture
*•-.!».
(1/22-26)
Of¬
fice—34-24 Collins
Place, Flushing, N. Y. Underwriters—
Shell Associates, Inc. and
RF
>
Oct. 27, 1961 filed 100,000 common shares of
Price—$5. Business
furnishing
Price—$2.50.
common.
Co., Inc., Nv Y*--;.,■,.»■
Ripley Industries,
(1/19)
common.
of
Business—Production of stone facing for buildings. Pro¬
ceeds—For debt reduction and general corporate pur¬
poses. Address — Sebring, O. Underwriter— Baruch
Business—Rebuilding and reconditioning of automotive
•
common.
Business—Manufacture
tools
radiator
Sept. 27, 1961 filed 100,000
—
.
Price—By
pipe working
and machines. Proceeds—For selling stockholders.
Office—400 Clark St., Elyria, Ohio.
Underwriters—White,
•Weld & Co., N. Y. and McDonald &
Co., Cleveland.
amendment.
enclosures. Proceeds—For equip¬
ment, aadvertising and working capital. Office — 234
Russell St., Brooklyn, N. Y. Underwriter—M. J. Merritt
& Co., inc., n. y.
; ;
:
;
• Quality Brake Rebuilders, Inc.
Jan 3,-1962
("Reg. A") 300,000 common.
—
—
•
Quaker City
boiler
St., N. W., Washington, D. C. Underwriter—Hirscbel
Co., Silver Spring; Md. Offering—Expected in April.
Royaltone Photo Corp.
Nov. 29, 1961 filed 300,000 common, of which 100,000
are to be offered
by the company and 200,000 by Stock¬
holders.
Price
By amendment.
Business
Develops
and prints color,, and black
and white photographic
.film. Proceeds —■ For equipment and
working capital.
; Office—245 7th
Ave., N, Y. Underwriter
Federman,
Stonehill & Co., N. Y.
■
/
•
\
/
Underwriters—Blunt
Ellis
&
Sim¬
•
S.
M. S. Instruments, Inc.
(2/5-9)
28, 1961 filed 100,000 common. Price—$3.25. Busi¬
ness—Repair and maintenance of aircraft instruments
and accessories. Proceeds—For
equipment, debt repay¬
Nov.
ment, and other corporate
International
Lieberbaum &
S.
June
O.
S.
29,
purposes.
Airport, Jamaica,
Co., N. Y.
N.
Office
Y.
—
Idlewild
Underwriter—
r
Photo-Cine-Optics, Inc.
1961 filed $50,000 of 6% subordinated deben¬
tures due
1969 and 50,000 common shares to be offered
in units consisting of $10 of debentures and 10 common
shares. Price—$40 per unit. Business—The manufactur¬
ing, renting and distributing of motion picture and tele¬
vision production equipment. Proceeds—For new equip¬
ment, advertising, research and development, working
capital and other corporate purposes. Office—602 W.
52nd St., New York. Underwriter — William, David &
Motti, Inc., N. Y. Offering—Imminent,
Sabre, Inc. (1/15-19)
Sept. 25, 1961 ("Reg. A")
50,000
common.
Price—$2.
Business—Manufacture of pre-paihted aluminum siding
and accessories. Proceeds—For inventory, dies, inventory
*
Continued
on
page
44
♦
-
1
'
I
I.
►
*
i
*
44
The Commercial and Financial
(208)
i
Chronicle,,
.
Thursday, January 11, 1962
.
5
*
Continued from page
•
43
Servotron
(1/29-2/2)
Corp.
*
*
*
!•
Office—4990 E. Asbury,
Underwriter—Schmidt, Sharp, McCabe & Co.,
Denver.
Los
—Sale of automatic film
electronic
Inc., Denver.
* s
I
{'<
inventory, sales promotion, research and develop¬
ment, and working capital. Office—29503 West Nine Mile
it Saladmaster Corp.
Jan. 3, 1962 filed $700,000 of 6% subord. conv. deben¬
tures due 1972 and 126,030 common
(of which 15,399
shcres are to be offered by the company and 110,631
If
>
{
».f
stockholders). Price—For debentures, at par;
by amendment. Business—Sale of kitchenware,
tablewear and a food cutting machine. Proceeds—For
debt repayment and general corporate purposes. Office
—131 Howell St., Dallas. Underwriter—Parker, Ford &
Co., Inc., Dallas.
M
J*
r
*
|
'i
I
M
i
•
San
Dec.
Diego Imperial Corp.
t
I*
Calif.
;■
if
i
tration
*!f
ated
•A-
Mr*k
Dec.
f
H
&
a
|
("Reg. A") $300,000 of 6% 15-year subord.
debentures. Price—At par. Business—Operation of
■
•
Savin
Business
ness—Distribution
machines.
of
Corp.
common.
products
Proceeds—For
for
initial
use
in
of
•*■
r
iN
ir
Schultz Sav-O-Stores,
13, 1961 filed 160,000 common, of which 75,000 are
to be offered by the
company and 85,000 by stockhold¬
ers.
Price—By amendment. Business—Wholesale food
distribution
and
operation
of
supermarkets.
Fla. Underwriter—George,
Shenk
Nov.
Proceeds
shares
expansion. Office—2215 Union Ave.,
Sheboygan,
Underwriter—Blunt Ellis. &_Simmons, Chicago.
Seashore
Food
Products, Inc. (2/26-3/2)
Aug. 29, 1961 ("Reg. A") 75,000 common.*'Price
$4.
Business—The manufacturing and
processing of assorted
—
I"
food
products. Office—13480 Cairo Lane,
Opa Locka,
Fla. Underwriters—Terrio &
Co., Washington, D. C.
Sea-Wide
Electronics, Inc.
purchase of conditional sales contracts on home
appli¬
Proceeds — For working capital and
expansion.
Office—724 9th St., N. W.,
Washington, D. C.
Under¬
writer—None.
?•{
properties.
>«■
>
Siconor
• Security
Air Vent, Inc.
Dec. 28, 1961 ("Reg. A")
100,000
Business—Manufacture of turbine
*
J
ment.
common.
Price
—
$1.
adaptors and
buildings. Proceeds—For
corporate
purposes.
debt
Office
—
repayment and general
715 W. Railroad Ave.,
Scottsbluff, Neb. Underwriter—None.
Security Equity Fund, Inc.
14, 1961 filed 400,000 capital
Dec,
'.-.'V
poses.
asset value
plus 6%. Business—A mutual fund. Proceeds
investment. Office
700 Harrison
St., Topeka
—For
Ei
'
Kan.
J
peka.
>1
"J
—
Underwriter—Security Management Co.,
Inc
To¬
corporate
Sokol
Brothers
Furniture
Co.,
Price—By amend¬
Business—Design and manufacture of networks
and program
transmission, filters, transceivers
data
and related electronic
equipment. Proceeds—For equip¬
ment, research and development, repayment of
loans and
working capital. Office—12 Hinsdale
St.,'Brooklyn Un¬
derwriter— Searight, Ahalt &
O'Connor, Inc., N. Y.
ing
of
Corp.
I
500,000 common. Price—$6. Business
estate mortgage
field, and the financ¬
intangibles
and
corporate purposes.
nix.
chattels.
Office—830
Underwriter—None.
Sell
"N
Serv
Proceeds—For general
N. Central Ave, Phoe¬
'
rate
cold bever¬
For debt
repayment and general corpo¬
purposes. Office—20 Simmons
St., Boston. Under¬
writer—Goldsmith, Heiken & Co., Inc., Brooklyn, N. Y.
Offering—Imminent.
^
Spears
Servonuclear Corp.
(1/22-26)
12, 1961 ("Reg. A") 100,000 common.
Sept.
Business—Manufacture
Proceeds—For
plant
new
of
medical
relocation,
electronic
products.
equipment, * inventory,
products, debt repayment and working capital. Of¬
fice—28-21 Astoria Blvd., Astoria, L.
I., N. Y. Under¬
writer—
Rothenberg, Heller & Co., Inc.; N. Y.
j|.
prefabricated
metal
showers,
baseboard
B.), Inc. 7..;;;.';
Malkan
&
Products, Inc.
29, 1961 filed 230,000
Co., Inc., N. Y.
(2/26-3/2)
of which 200,000 are
by the company and 30,000 by stockholders.
amendment. Business—Manufacture of drug
common
to be offered
'•>
Price—By
and food
products, electrical and electronic devices and
precision machinery. Proceeds—For the purchase of cer¬
tain patents,
Office—730
designated residential locations. Proceeds—For
L
St., S. E. Washington,
St.,
Y
•
Systems, Inc. (1/15-19)
30, 1961 ("Reg. A") 75,000 common. Price
$2.
Business—Manufacture of ultrasonic cleaning equip¬
(2/13-16)
100,000
dealer
in
Price — $2.50.
gold and silver bullion
common.
a
new
Inc. ( 1/15-19)
filed $100,000 of 6%
subordinated con¬
due 1977 and 50,000 common to be
units, each consisting of $20 of debentures and
10 shares. Price—$60 per unit. Business—Design
and
manufacture of fishing and archery equipment and fiber
glass household items. Proceeds—For general corporate
purpose.
Office—131 Saw Mill River Rd., Yonkers, N. Y.
Underwriter—William, David & Motti; Inc., N. Y.
Co., Inc.j N. Y.
and operation of
towing boats.
Proceeds—For debt repayment, conversion of a
boat, and
working capital. Office—3300 N. W. North River Drive,
Miami, Fla. Underwriter—Irwin Karp & Co., Inc., 68
William St,
;■
debentures
Standard
Industries,
Inc.
(1/29-2/2)
Oct. 13, 1961 filed 210,000 common, of which 183,000 are
to be offered by the company and 27,000 by a stock¬
holder.
of
Price—By amend¬
working capital.
J. Underwriter—
offered in
Southeastern Towing &
Transportation Co., Inc.
29, 1961 ("Reg. A") 100,000 common. Price—$3.
ment. Proceeds—For debt
repayment and redemption of
1961
29,
vertible
Nov.
>v
Sportsmen,
Nov.
ment, systems and transducers. Proceeds—For
expansion
and working capital.
Office—1250 Shames Dr., Westbury,
"
N.
processing and
refinery, debt repayment
and working capital. Office—E. William St., Hopelawn
(Woodbridge), N. J. Underwriter—Flumenhaft, Seidler
& Co., N. Y.
Sonic
Southern California Edison Co.
(1722)
Dec. 11, 1961 filed 1,500.000 common.
and
and other non-ferrous metals. It also does
general corporate purposes. Of¬
fice—260 Hawthorne Ave.,
Yonkers, N. Y. Underwriter
—Meadowbrook Securities Inc.,
Hempstead, N. Y.
•
and
-smelting. Proceeds—For
energy. Proceceds—For
&
Inc.
7, 1961 ("Reg. A")
Business—Broker
debt,
Hoboken,
■
Spiral Metal Co,.,
Dec.
Development Corp. of America
of
repayment
Grand
Blair & Co., N.
Business—Construction
Price—$2.
Price—$4. Business
receptors, precast con¬
shower
Sperti
Nov.
Industries, Inc.
Underwriter—Keene
(L.
writer—Arnold
;
buildings, repayment of debt and
27, 1961 filed 56,000 common, of which 30,000 are
to be offered by the
company and 26,000 by stockhold¬
ers. Price—$5.
Business—Design, development and man¬
ufacture of devices using sound or fluids as a
source of
N. Y.
metal
1961 filed 65,000 common. Price—$5. Business—•
Operation of retail furniture stores. Proceeds
For
working capital. Office—2212 Third Ave., N. Y. Under¬
—
("Keg- A") 60,000 common. Price—$5. Busi¬
ness—Manufacture of dispensers for hot and
ages. Proceeds
rceptors,
of
(3/5)
common.
Oct. 30,
Inc.
Oct
Dispensers, Inc.
22, 1961 filed 175,000
I., N. Y.
Oct.
•
-
Underwriter—M. H. Woodhill, Inc., N. Y.
Underwriter—None.
Sonic
company.
—
selling stockholders. Office—115
C.
common.
investment
..radiators and rope and twine. Proceeds—For a new
plant
; in
Canada. Office—52-55 74th Ave., Maspeth, L.
working capital. Office—253 Columbia St., Brooklyn,
Y. Underwriter—Continental Bond & Share
Corp.,
Manlewood. N. J.
D.
100,000
business
Spartan International Inc.
crete
stores. Pro¬
Office—2514 n.
N.
at
small
—Manufacture
;
ment
for
$
•
common. Price—$2.50
Busi¬
retailing of furniture, appliances
other household goods. Proceeds — For
expansion
Solon
City.
Laughlin, Kaufman & Co., N. Y.
instalment
of
Ave., Oklahoma City. Underwriters—Eppler,
Turner, Inc., Dallas and R. J. Edwards, Inc.,
(1/29-2/2)
'/'•'.■v'25, 1961 ("Reg. A") 90,000 common. Price—$3, Busi¬
ness—Manufacture of a synthetic elastic yarn and other
synthetic- fibres. Proceeds—For general corporate pur¬
poses. Office—186 Grand St., N. Y. Underwriter—Mc¬
Sept. 28, 1961 filed 240,000
and modernization
&
Spandex Corp.
N. Y.
•
Price—By amend¬
casualty insurance in
Oct.
Philadelphia, Pa. Underwriters—Boenning &
Philadelphia, and Rodetsky, Walker & Co., Inc.,
Co.,
Co.
common.
Price—$2.
Pro¬
working capital. Office—113 W. 2nd St., Casa
Grande,MAriz. Underwriters—Preferred Securities, Inc.,
and Brown & Co. Investment
Securities, Phoenix.*/;
Price—By amend-;
purposes.
1973; and 30,000
ceeds—For
Dec. 28, 1961 filed 75,000 common.
Price—By amendment.
Business—Installation of its coin operated laundry equip¬
—Engaged in real
F'
h<
common.
convertible sub¬
due
debentures:
and
Business—A
Broad St.,
'
Selective Financial
Dec. 8, 1961 filed
kj*
(1/29-2/2)
Insurance
Space Financial Corp.
Nov. 24, 1961
("Reg. A")
'
ment.
8
S
#■
Inc.
the
Business—Operation of
1961 filed 220,000
Oklahoma
purposes.
Seg Electronics Co., Inc. (1/29-2/2)
Sept. 28, 1961 filed 110,000 commbn.
'>
Guerin
Dec.
Business—Operation of retail discount
general
26,
Western
Price—By amend¬
-
Silo Discount Centers,
Nov. 15, 1961 filed 165,000
Price—For
Arkansas. Proceeds—For redemption of
surplus fund certificates and expansion. Office—5620 N.
search
Underwriter—None.
;
$5.
Oklahoma
Ltd.
common.
Proceeds—For
Associates, Inc.
$150,000 6%
ment. Business—Writes automobile
for silver in
Proceeds—For general corporate pur¬
Office—62 Richmond St., West, Toronto, Canada.
ness—The
Price—Net
corporate
exploratory
stocks:
Dec.
northern Ontario.
and
shares.
Mines
Business—The
ceeds—For
ventilators, roof jacks,
grain aerating equipment for
ventilating
135,000
(2/5-9)
general
Sept. 18, 1961 filed 250,000
ment.
i
r
Proceeds—For
investment.
—
Ave., Boston. Underwriters—Paine,
Webber, Jackson & Curtis, Boston and S. D. Lunt & Co.,
Buffalo, n. Y
;
ances.
n
which
—
$500. For
bowling alleys.
Proceeds
For debt repayment and working capital.
Office—2711 N. 24th St., Phoenix. Underwriter—A. G.
Edwards & Sons, St. Louis.
the
Office—470 Atlantic
Security Acceptance Corp.
March 7, 1961 filed
100,000 shares of class A common
stock and $400,000 of 71A%
10-year debenture bonds, to
be offered in units
consisting of $100 of debentures and
25 shares of stock.
Price—$200 per unit. Business—The
•j*
of
estate
("Reg. A")
shares.
common
to be offered
Corp. of America
29, 1961
Southwestern
common,
Price
shares.
and
ordinated sinking fund debentures
(2/5-9)
150,000
loans
Southwest Recreation
Nov.
30, 1961 filed $8,000,000 of 7x/2% capital income
sinking fund debentures due 1989. Price—By amend¬
ment. Business—Operates hotels and other real estate
Office—Stokely St., and Roberts Ave., Phila¬
delphia, Pa. Underwriter—Amos Treat &
Co., N. Y.
ir
filed
common
Business—The develop¬
working capital. Office—2501
Bank of Georgia Bldg., Atlanta.
Underwriter—Johnson,
Lane, Space Corp., Savannah. Offering—Imminent.
Oct.
(1/29-2/2)
repayment.
/I
are
Sheraton
Sept. 26, 1961 filed 200,000 common. Price—$4. Business
—Importing of goods from Japan. Proceeds—For debt
V
;r
1961
of
repayment
by the company and 15,000 by
a stockholder. Price—$6. Business—Manufacturer of re¬
built automobile-parts.- Proceeds—For debt repayment
and working capital. Office—2101 S. High
St., Colum¬
bus, Ohio. Underwriters—Rodetsky, Walker & Co.? Inc.,
NwYvand Boenning & Co., Philadelphia; ■
—For
Wis.
28,
Business—Real
ment.
O'Neill & Co., Inc., N. Y.
Industries, Inc.
of principal amount.
• Southern
Syndicate, Inc.
Sept. 13, 1961 filed 300,000 common. Price—By amend¬
ceeds—For equipment, advertising, plant expansion and
working capital. Office—3800 N. W., 32nd Ave., Miami,
Inc.
Nov.
.
Avenue, Miami Beach, Fla.
Underwriters
Co., and Lee Higginson Corp., N. Y.
Hirsch &
Inc.
Shelley Manufacturing Co.
Dec. 29, 1961 filed 55,000 common. Price—$6.50. Business
—Manufacture
of automatic
equipment for handling
packaged foods, and various food serving devices. Pro¬
xero¬
•
unimproved land in Florida. Proceeds—For the
repayment of debt, the development of property, work¬
ing capital and other corporate purposes. Office—1674
40th
photocopy
production
Pro¬
ment of
lamin¬
area.
Proceeds—For
expansion. Office—139 S.
St., Omaha, Neb. Underwriters—J. Cliff Rahel &
Co., and Storz-Wachob-Bender Co., Omaha.
(1/15-22)
Price—$10. Busi¬
graphic machines, additional equipment, expansion and
working capital. Office—161 Ave. of the Americas, N. Y.
Underwriter—Ira Haupt & Co., N. Y.
VP
—At 100%
Bluffs
Machines
Sept. 28, 1961 filed 150,000
Marts,
C.
debentures and warrants for five
Meridian
Food
company.
Office—Poinsett Hotel
Realty & Utilities Corp.
May 26, 1961 filed $4,140,000 of 6% convertible deben¬
tures due 1976, with warrants to purchase 41,000 common
shares, to be offered for public sale in units of $500 of
selling stockholders.
Underwriter—Shields
Cabot Ave., Detroit.
investment
Southern
—
ton, D. C. Underwriter—C. A. Taggart, Inc., Towson, Md.
'i;
distributes
and
Proceeds—For
S.
Inc. (1/22-26)
shares. Price—$6.
common
business
Building,
Underwriter—Capital Securities Corp.,
Greenville, S. C.
Greenville,
Dec. 19, 1961 filed 170,000 class A common, of which
30,000 will be sold by the company and 140,000 by cer¬
tain stockholders. Price
By amendment. Business—
Operation of seven supermarkets in the Omaha-Council
chain of drug stores.
Proceeds—For general corporate
purposes. Office—3310 New York Ave., N. E., Washing¬
$
glass.
Industries,
100,000
small
ceeds—For investment.
F
:
Growth
1961 filed
28,
Business—A
Co., n. y.
Shaver
28, 1961
conv.
"
"
Business—Manufactures
safety
Office—4815
Ins*
f
*
statement.
ment.
Birchwood Park
Hriicxc
Southern
,
Shatterproof Glass Corp. (1/15-19)
Oct. 27, 1961 filed 215,000 common. Price—By amend¬
Dr., Jericho. L. I.,
Underwriter—Amber, Burstein & Col, Inc., N. Y.
N. Y.
:IP
I
,
Oil
purcnase
of mortgage notes, contracts, leases,
Proceeds—Repayment fo debt, investments and other
corporate purposes. Office—615 Hillsboro St., Raleigh,
N. C. Underwriter—J. C. Wheat & Co., Richmond, Va.
April 24, 1961 filed 500,000 shares of common stock.
Price—$2.50 per share. Business—Acquisition, develop¬
ment, and exploration of mining properties. Proceeds—
For general corporate purposes. Office — 1406 Walker
Bank Bldg., Salt Lake City, Utah; Underwriter — None.
Note—The SEC has ordered "stop order" proceedings
challenging the accuracy and adequacy of this regis¬
pansion. Office—151
if t<'
*
^
Corp. (1/29-2/2)
July 5, 1961 ("Reg. A") 92,000 common shares (par one
cent). Price—$2.50. Business—Wholesale distribution of
gasoline and oil to service stations. Proceeds—For ex¬
*
.
v
Underwriters—White, Weld & Co., Inc., N. Y., and
Sav-Mor
11
J
.
filed
1961
J. A. Hogle & Co., Salt Lake City.,
#
>
f
to
ness—Repurchase
June
Co.
warrants
etc.
Corp., N. Y.
Minerals & Chemical
Shasta
350,091 common. Price—By amend¬
ment. Business—A holding company for 14 savings and
loan associations, and other firms. Proceeds — For the
selling stockholders. Office—1400 Fifth Ave., San Diego,
1
5,
(1/23)
(1/23)
duction of natural gas, natural gasoline and petroleum.
Proceeds—For prepayment of loans and working cap¬
ital. Office—First National Bank Bldg., Amarillo, Tex.
Underwriter—First Boston
with
1976
due
debentures
nated
200,000 shares of common stock, to be offered in units
consisting of $100 of debentures with a warrant to pur¬
chase 20 common shares. Price—By amendment. Busi¬
Dec. 13, 1961 filed $25,000,000 of sinking fund debentures
due Jan. 1, 1987. Price—By amendment. Business—Pro¬
shares by
for stock,
t
*
Sept. 22,
Rd., Farmington, Mich. Underwriter—None.
Shamrock Oil and Gas Corp.
Frontier ^Finance Co.
(1/15-19)
1961 filed $1,000,000 of sinking fund subordi¬
Southern
•
and
'
Angeles.
and
processing machines and other
Proceeds—Purchase of equipment
products.
preferred. Office—601 W. Fifth St.,
Underwriters—First Boston Corp., "N. Y.
Dean Witter & Co., San Francisco.
outstanding 4.88%
Sept. 25, 1961 filed 100,Ouu common. Price—$5. Business
equipment and working capital.
>
Price—By
crushed
and
corporate
<
amendments Business-r-Production
gravel, and ready-mix, concrete
highways, etc. -Proceeds—General
limestone;
construction
of
purposes.
Office—731 Mayo
Co., N. Y.
Okla. Underwriter—Allen &
Bldg.,
^
Tulsa,
Volume
-
195
Number
The
6124
Commercial and Financial
Chronicle
(209)
Technical Animations,
Stanley Industries Corp.
Price—$4. Business
—Design, manufacture and sale of heavy-duty stainless
steel equipment.
Proceeds—For debt repayment vand
general corporate purposes. Office—454 Livonia Ave.,
Brooklyn, N. y. Underwriter—Edwards & Hanly, Hemp¬
stead,^. y. ;
-' -■■1*
v ?,:
tures
Shelter Corp.
,?
■
rant
share
and
warrant.
one
Price—$3
per
■
unit. Busi¬
loans, advances to a subsidiary, establishment of branch sales offices and working capital.
Office—336 S. Salisbury Street, Raleigh, N. C. Under¬
writer—D.- E. Liederman & Co., Inc., N. Y. (mgr.). Note
—This firm formerly was known as Star Homes, Inc.
Offering—Expected sometime in February.
Starmatic
Industries, Inc.
&
,
Manufacture
—
purchase
class
14
Business
ment
Trans data,
image
processing and transmission field.
repayment
• Stelber Cycle Corp.
Business —Manufactures illu¬
and non-illuminated signs and other advertis¬
Proceeds
working capital.
Dec.
29,
each consisting of one $200 debenture and
shares. Price—$500 per unit.
Business—Manufacture
repayment
of
units,
50
of
bicycles, tricycles and toy automobiles. Proceeds—For
debt repayment, moving expenses and a new product
line. Office—744 Berriman St., Brooklyn, N. Y. Under¬
writers—Lloyd Securities, Inc. and Richard Bruce &
Co., Inc., N. Y.
fluorescent
lighting
Chicago.
offered
by the
Scientific
Oct. 23,
&
International
,
Salomon
Brothers
Hutzler
&
(jointly).
Bids—Expected
1961 filed 150,000 class A common. Price—By
Business—Company was recently formed
26,
1961
filed
175,000
common,
facture
ufacturing, international engineering and sales activities.
Proceeds—For general corporate purpose. Office—111 W.
50th St., N. Y. Underwriter—Hirsch & Co. Inc., N. Y.
and general corporate purposes. Office—6502 Rusk
purposes.
corporate
Office—3601 N. W. 50th St., Miami, Fla. Un¬
—
Underwriter—Packer-Wilbur Co., Inc., N. Y.
Publishers, Inc.
if Thunderbird
Dec.
28, 1961 filed 90,000 common. Price—$3. Business
—Publishing and distributing telephone directories. Pro¬
ceeds—For
Ave.,
Underwriter
S. D. Fuller & Co., N. Y.
Thompson Manufacturing Co., Inc.
Dec. 22, 1961 filed 90,000
common, of which 80,000 shares
are to be offered
by the company and 10,000 by stock¬
holders.
Price—$4. Business—Design and manufacture
of special machinery for
bowling alleys and related
equipment.
Proceeds—For expansion and general cor¬
porate purposes. Office — Canal St., Lancaster, N.t H.
derwriter—To be named.
Suburban Directory
coolers, water cans and portable hot
dispensers.
Proceeds—For
debt
repayment
Jan.
International
Hotel
repayment of bank loans, additional equip¬
2,
—
Wilkes-Barre,
Co., N. Y.,'
St.,
Pa.
Underwriter—G.
K.
Shields
Sepulveda Blvd., El Segundo, Calif. Underwriter—Vickers, MacPherson & Warwick, Inc., N. Y.
&
;
Swift
Homes, Inc. (1/22-26)
Sept. 15, 1961 filed 240,000 common, of which 80,000
will be sold by the company and 160,000 by stockhold¬
ers. Price—By amendment. Business—The manufacture,
sale and financing of factory-built homes. Proceeds—To
expand credit sales and open new sales offices. Address
—1 Chicago Ave., Elizabeth, Pa. Underwriter—Eastman
Dillon, Union Securities & Co., N. Y.
Dec.
„
("Toshiba")
factures
a broad line of electrical and
electronic equip¬
including home appliances, radio and TV, heavy
duty equipment, tubes and semi-conductor^. Proceeds—
For the account of a subsidiary.
Office—Tokyo, Japan.
Underwriters—Smith, Barney & Co., and the Nomura Se¬
curities Co. Ltd., N. Y
<
Tokyo Shibaura Electric Co., Ltd. ("Toshiba")
Dec. 8, 1961 filed 50,000,000 common shares to be of¬
fered
to
stockholders
the
on
basis
for each two held of record Dec. 30.
ness—Manufactures
tronic equipment.
a
broad line
Proceeds
—
of
one
new
share
Price—$0,125. Busi¬
of electrical
For expansion.
and
elec¬
Office—
Tokyo, Japan. Underwriters—None.
Tork Time Controls,
Dec.
...
ment.
12,
1961
filed
Inc.
150,000
(2/26-3/2)
common.
common.
Price
—
$5.
wide
be
offered by the company and 48,000
by stockhold¬
Price—$6. Business—Design, manufacture and sale
of power supplies. Proceeds—For debt
repayment and
working capital. Office—111 Pleasant Ave., Roosevelt,
L. I., N. Y.
Underwriter—William, David & Motti, Inc.,
ers.
N. Y.
Turbodyne Corp.
May 10, 1961 filed 127,500 shares of common stock. Price
—$5 per share. Business — The research, development,
manufacturing and marketing of space and rocket en¬
gines, and related activities. Proceeds—For research and
development, and working capital. Office—1346 Con¬
necticut Ave., N. W., Washington, D. C. Underwriter—
Sandkuhl & Co., Inc., Newark, N.
J., and N. Y. C. Offer¬
ing—Expected sometime in March.
•
Turner
Engineering & Automation Corp.
(2/5-9)
.
.
Sept. 27, 1961 ("Reg. A") 75,000 common.
Price—$4.
Business—Manufactures electronic
devices
and
com¬
ponents. Office—209 Glenside Ave., Wyncote, Pa. Un¬
derwriter
—
Valley Forge
Securities
Co., Inc.,
Phila.
Twentieth Century Capital Corp.
Nov. 24, 1961 filed 250,000 common. Price—By
amend¬
ment; Business—A small business investment company.
Proceeds—For general corporate purposes. Office—134
S.
La
&
Co., Chicago.
Salle
St., Chicago. Underwriter—Bacon, Whipple
21
Brands, Inc.
22, 1961 filed 800,000 common, of which 550,000
to be offered by the company and
250,000 by stock¬
are
holders.
of
Price—By amendment.
imported and American wines
—For
repayment, expansion and working capital.
Office—23 W. 52nd St., N. Y. Underwriters—A. C.
Allyn
&
Co., and Hornblower & Weeks. Offering—In March.
•
Tyson Metal Products, Inc.
Business—Design and manufacture of time
con¬
(1/29-2/2)
Oct. 26, 1961 filed 70,000
common, of which
are to be offered
by the company and
21,000 shares
49,000 by stock¬
holders.
Price—By amendment. Business—Manufacture
beverage service equipment. Proceeds—
working caiptal. Office—6815 Hamilton Ave., Pitts¬
burgh. Underwriter — Arthurs, Lestrange & Co., Pitts¬
burgh. '
of
food
and
For
Ultra
Plastics
Inc.
(1/29-2/2)
Sept. 19, 1961 filed 150,000 class A common. Price—$4.
Business—The manufacture of outdoor
plastic signs and
urethane foam. Proceeds—For
equipment, repayment of
debt, inventory, additional personnel, advertising and
Underwriter—Amos Treat & Co., N. Y.
Uneeda
Dec.
14,
Vending Service, Inc.
("Reg. A") 73,500 common. Price
$3.
Purchase of new and used coin-operated
1961
—
—
vending and recreational machines. Proceeds—For gen¬
eral corporate purposes. Office—166 Clymer
St., Brook¬
lyn, N. Y. Underwriter—Capital Consultants Corp., N. Y.
•
Union Title Co. (1/29-2/2)
Aug. 28, 1961 filed 150,000 capital shares. Price—$7.50.
Business—The insuring of real estate titles. Proceeds—
For working capital and
expansion. Office—222 N. Cen¬
tral
Price—By amend-
Business—Distribution
and whiskies. Proceeds
debt
Business
Technibilt Corp.
..
Co., Ltd.
5,
ment
year-books and commercial printing. Proceeds—For sell¬
ing stockholders. Office—6320 Denton Dr., Dallas. Un¬
derwriter—Dallas Rupe & Son, Inc., Dallas, Tex.
,
Electric
1961 filed 30,000,000 common to be offered for
public sale in the U. S., in the form of 600,000 American
Depositary Shares, each representing 50 common shares
of the company/Price—By amendment. Business—Manu¬
Dec.
(2/19-21)
Nov. 28, 1961 filed 150,000 common. Price—$4. Business
—Manufacture of shopping carts and related products.
Proceeds—For debt repayment, equipment and working
capital. Office—905 Air Way, Glendale, Calif. Under¬
writer—Frank Karasik & Co., N. -Y.
■
^
- ,:
and
Tokyo Shibaura
(1/29-2/2)
Underwriter—None.
■
lumber
company. Proceeds—For debt re¬
working capital. Office — 1600 Hillside
Ave., New Hyde Park, N. Y. Underwriter—Rubin, Rennert & Co., Inc.. N. Y.
payment
if Szemco, Inc.
Dec. 29, 1961 filed 66,666 common. Price—By amend¬
ment ($1.50 max.). Business—Design and manufacture
of
ordnance, automotive, aircraft and guided missile
parts and components. Proceeds—For selling stockhold¬
ers. Office—4417 Okechobe Rd., West Palm Beach, Fla.
Taylor Publishing Co.
21, 1961 filed 152,000 common. Price—By amend¬
ment. Business — Production and distribution of school
Tidewater Lumber Co,,,(1/29-2/2)
;
Oct. 23, 1961 filed 200,000 common.
Price—$5. Business
—Wholesale
a
Dec.
1962 filed 175,000 common. Price—By amend¬
ment ($10 max.). Business—Hotel
ownership and man¬
agement. Proceeds — For construction. Office
525 N.
ment, expansion and working capital. Office—60 N. State
to
;
Corp.
Manufacture of
—
variety of cosmetics.
Proceeds—For equipment, inventory and
working cap¬
ital. Office—1215 Walnut St., Philadelphia. Underwriter
—D. L. Greenbaum &
Co., Philadelphia.
Trygon Electronics Inc.
Dec. 22, 196&5filed 100,000
common, of which 52,000 are
water
Houston.
Oct. 27, 1961 filed 120,000 common. Price—$5. Business
—Distribution of eggs and dairy products in Florida and
states/ Proceeds—General
of
beverage
City Dairy Products, Inc.
southeastern
19
(1/29-2/2)
of which 150,000
shares are to be offered by the
company and 25,000 by
stockholders.
Price—By amendment. Business—Manu¬
Oct.
by Struthers Wells Corp., to take over latter's recent de¬
velopments in saline water conversion and certain man¬
other
Business
Texas Tennessee Industries, Inc.
Corp.
/■:./-//• v.-
amendment.
Sun
Tripoli Co., Inc. (1/22-26)
20, 1961 ("Reg. A") 60,000
Oct
—
Jan. 23, 1962 at 11:30 a.m. Information Meeting—Jan.
at 11:00 a.m. (EST) at 2 Rector
St., N. Y.
of
ing capital. Office—175 I. U. Willets Rd.,
Albertson, L. I.,
Underwriter—Hill, Darlington & Grimm, N. Y, ^
Office
1511 Bryan St., Dallas. Underwriters—
(Competitive). Probable bidders: Halsey, Stuart & Co.
Inc.; Kuhn, Loeb & Co.-Blyth & Co., Inc.-Kidder, Peabody & Co.-Merrill Lynch, Pierce, Fenner* & Smith Inc.
(jointly); Lehman Brothers; White, Weld & Co.; First
Boston Corp.; Eastman Dillon, Union Securities & Co.-
com¬
(2/13-16)
160,000 common, of which 80,000
by the company and 80,000 shares by
filed
N. Y.
*
«
,
Industries, Inc.
1961
offered
Price—By amendment. Business—Manu¬
precision, plastic components. Proceeds—For
repayment of loans, advertising, equipment and work¬
Texas Power & Light Co.
«
28,
to be
facture
Dec. 13, 1961 filed $10,000,00 of
sinking fund debentures
due 1987. Proceeds—For debt
repayment and construc¬
tion.
1961
stockholders.
•
;
27,
Tri-Point
are
Ave., Houston.. Und^^riterTTnMpvpney, Beissner
Co., Inc., Houston.
/f
^
■■■%>■'
(1/23)
Trans-Pacific
Sept.
&
by a stockholder.
Processing and dis¬
tributing of various canned and frozen food products.
Proceeds—For debt repayment and working capital. Of¬
fice—941 N-. Meridian St., Indianapolis. UnderwriterReynolds & Co., Inc., N. Y.
(1/22-26)
•
Office—1017
Gray
pany,; and
100,000 common shares
Price —By amendment.
Business —
Struthers
equipment, debt
purposes.
C.
—
Business—A small business investment
company.
Proceeds—General corporate purposes. Office—1947 W.
./-r[
be
corporate
debt
Office—1000
expansion, working cap¬
ital, and possible acquisitions. Office
Pacific National
Bank Bldg.,
Bellevue, Wash. Underwriter—Hill, Dar¬
lington & Grimm, N. Y. Offering—In
mid-February.
ment.
(2/5-9)
1961 filed $15,000,000 of convertible subordi¬
to
other
purposes.
—
Electro-Dynamic Capital, Inc.
Oct. 16, 1961 filed 250,000 common.
Price—By amend¬
W Stokely-Van Camp, Inc.
1982
Proceeds—For
programs.
and
Proceeds—For
and accessories. Proceeds—For
Texas
Miami, Fla. Underwriter—Floyd D. Cerf Jr., Co.,. Inc.,
due
television
corporate
Research & Capital, Inc.
filed 47,000 common. Price—By amend¬
ment. Business
Manufacture of high pressure valves
development, plant improvement and work¬
ing capital. Office—41 E. 42nd St., N. Y. Underwriter—
Edward Lewis Co., Inc.,, N. Y.
Price—$1.15.
Markets, Inc.
Dec. 8, 1961 ("Reg. A") 13,559 class A common. Price—
$7.37. Business—Operation of supermarkets. Proceeds—
For selling stockholders.
Office—5701 N. W. 35th Ave.,
debentures
•
($100). Business—Production
par
other
Johnson
Nov.
Tele-Communications Corp.
(2/5-9)
Sept. 29, 1961 ("Reg. A") 100,000 class A common. Price
—$3. Proceeds—For debt repayment, advertising, re¬
Stevens
nated
and
Chicago.
Ave., S. E., Washington, D. C. Underwriter
—Turnbull, Deter & Sullivan, Inc., Charlottesville, Va.
Proceeds—For working
29,
St.,
New Jersey
capital, equipment, in¬
ventory. Address—Winsted, Minn, Underwriter—Mid¬
west Planned Investments, Inc., Minneapolis.
Nov.
repayment
47th
search and
if Sterner Lighting, Inc.
Jan. 2, 1962 ("Reg. A") 260,000 common.
outdoor
W.
("Reg. A") 100,000 common and $100,000
of 6% 5-year subordinated debentures.
Price—For stock,
;
of
3401
and
Ave., El Cajon, Calif. Underwriter—N.
Roberts & Co., Inc., San Diego.
1961
$1; for debentures, at
devices.
debt
—
Office
For
N.
Underwriter—Clayton Securities Corp., Boston.
if Tele-Cine, Inc. \ v/ '
Jan. 5, 1962 filed $240,000 of 8% convertible debentures
due 1972 and 60,000 common shares to be offered in
Business—Manufacture
—
Inc.
Nov. 29, 1961 filed 100,000 common.
Price—$5. Business
—Research and development in the
data and
Price—By amendment.
material.
S.
of debt, and other corporate pur¬
Office—110 E. 6th Ave., Anchorage, Alaska. Un¬
derwriter—Milton D. Blauner &
Co., Inc., N. Y.
.
ing
repay¬
quisition, repayment
Tel-A-Sign, Inc.
minated
debt
Office—18033
poses.
Oct. 30, 1961 filed $900,000 of convertible subordinated
debentures due 1974 and 180,000 common to be offered
in units consisting of $100 of debentures and 20
common.
Plant Equipment
purposes.
...
—
Co., Bayside, ,N. Y. Offering—In February.*
Proceeds—For
corporate
Trans-Alaska Telephone Co. (2/13-16)
Nov. 29, 1961 filed
265,000 common, of which 250,000 are
to be offered by the
company and 15,000 by a Stock¬
holder. Price—$6. Proceeds—For
construction, and ac¬
working capital. Office—153 Union Ave., East Ruth¬
erford, N. J. Underwriter—Scott, Harvey & Co., Inc.,
Fairlawn, N. J.
\vv
.
trailers.
general
Ave., Long Beach, Calif. Underwriter—Adams
&
Co., Los Angeles. Offering — Expected in midFebruary.
'
• '
and
of
and
truck
Santa Fe
Inc. (2/5-9).
1961 filed 100,000 common. Price—$3.25. Busi¬
Design and manufacture, of inert gas welding
equipment. Proceeds—For debt repayment, expansion
ness
("Reg.'A") 55,000 capital shares. Price—$5.
and repairing of
Manufacturing, servicing
—
commercial
Nov. 28,
Corp. (1/22-26) ;
Oct. 2, 1961 ("Reg. A") 100,000 common, Price—$3. Pro¬
ceeds—For equipment and working capital. Address—
Norristown, Pa. Underwriter—Joseph W. Hurley & Co.,
Norristown, Pa.
/
/
•
if Trail-Aire, Inc.
Dec. 27, 1961
A
& Low; John R. Maher
Associates;
Topik & Co., Inc., N. Y,
......
.
Steel
•
Vernon, N. Y. Underwriters—Godfrey, Hamilton, Taylor
& Co., and Magnus &
Co., N. Y.
Tec-Torch Co.,
.
3, 1961 filed 100,000 common.
Business
to
and R.
-
^ ;
>
Price—By amend¬
boxes, brochures,
packaging materials and packaging machines. Proceeds
—For debt repayment and general corporate purposes.
Office—252 W. 30th St., N. Y. : Underwriter—N. A. Hart
Nov.
ment.
sion,
Underwriters—Bull
ness—The construction and sale of shell homes. Proceeds
—For repayment of
trolled switches. Proceeds—For debt
repayment, expan¬
and working capital. Office—1 Grove
St., Mount
subord. deben¬
1972
shares). Business—Design
and manufacture of animated
transparencies and other
technical training aids and displays. Proceeds—For debt
repayment, expansion, research, and working capital.
Office—11 Sintsink Dr., East Port
Washington, N. Y.
June 28, 1961 filed 133,000 commn and 133,000 warrants
to be offered in units, each unit consisting of one com¬
mon
due
v
conv.
(with warrants) to be offered for sub¬
scription by holders of class A and class B common at
the rate of $100 of debentures for each 280 shares held.
Price—$100 per unit ($100 of debentures and one war¬
.
Star Home and
Inc.
1961 filed $211,400 of 7%.
Nov. 30,
Oct; 26, 1961 filed 80,000 common.
45
Ave., Phoenix. Underwriter—None.
Continued
:
on
r>
page
46
46
The Commercial and Financial Chronicle
(210)
■
'
'
'
'
•
•
'
(1/22-26)
Products Corp.
United Aero
w
•
_
Sept. 2S, 1961 filed $600,000 of 6% conv. subord. deben¬
tures due 1971. Price—At par. Business—Manufacture of
United Investors Life Insurance
^
Packaging Co., Inc.
United
-
(2/26-3/2)
29, 1961 filed 102,000 common. Price—$3. Business
general packaging business. Proceeds — For new
machinery, debt repayment and working capital. Office
—4511
Wayne Ave., Philadelphia. Underwriter—God¬
frey, Hamilton, Taylor & Co., Inc., N. Y.
—A
Scientific
United
Laboratories,
(1/16)
Inc.
filed 360,000 common shares. Price—$2.
Business—The manufacture of high fidelity stereo tuners
1961
18,
amplifiers and amateur radio transceivers. Proceeds
repayment of debt, increase in sales -personnel,
tooling and production and working capital. Office—
35-15 37th Ave., Long Island City, N. Y. Underwriter—
Fred F. Sessler Co., Inc., N. Y.
and
—For
U. S.
Controls, Inc.
(1/22-26)
Sept. 28, 1961 filed 120,000' common. Price—$2.25. Busi¬
ness—The manufacture of automatic control systems.
Proceeds—For repayment
of debt, a sales and advertis¬
ing program, research and development, equipment and
working capital. Office — 410 Fourth Ave., Brooklyn.
Underwriter—N. A. Hart & Co., Bayside, N. Y.
1961 filed 600,000 shares of beneficial interests.
Price—By amendment. Business—A real estate invest¬
ment trust. Proceeds — For general corporate purposes.
Office—720 Euclid Ave., Cleveland. Underwriter—Hornblower & Weeks, N. Y.
Dec. 21,
Univend
Corp.
Waterman
Of¬
Pennsauken, N. J,
(1/29-2/2)
Sept. 29, 1961 ("Reg. A") 115,000 common. Price—$2.50.
Business—Operates coin-vending machines for food and
drink. Proceeds — For expansion and working capital.
Office—28 O'Brien Place, Broklyn, N. Y. Underwriter
—Ezra Kureen Co., N. Y.
St.
and
Crescent Blvd.,
Universal
Laboratories
Electronics
•
siums and health centers for
men
and
women.
Office—
Park
Ave., N. Y. Underwriters—Globus, Inc., and
Ross, Lyon & Co., Inc., N. Y.
.
Virginia Dare Stores Corp. (1/22-26)
27, 1961 filed 15^0(1 .common, of which 100,000
shares are to be offered by the company and 54,000
shares by stockholders.
Price—By amendment. Business^Operation of Stores selling women's, misses and
children's apparel. Proceeds—For working capital. Of¬
fice—111
Eighth Ave., N. Y.
Underwriter—Lehman
Brothers, N. Y. i /(:;77 : ^7V:: ---.7
Oct.
Visual Arts
Industries, inc.
Corp.
amendment. Business—Design, development and
production of teaching machines. Proceeds-rFor produc¬
tion expenses, advertising, marketing etc. Office—510
Hudson St., Hackensack, N. J. Underwriters—Stearns &
Co., Clark, Weinstock & Porges, andElmaleh& Co., Inc.,
.
_
Universal
Lighting Products, Inc.
Sept. 21, 1961 filed 175,000 common. Price—$1. Business
—Manufacturer of lighting fixtures and display and
merchandising equipment for use in gasoline service
stations. Proceeds — Repayment of debt and working
capital. Office—55 Bergenline Ave., Westwood, N. J.
Underwriter—Globus, Inc., N. Y. Offering—Sometime in
February.
Uropa International, Inc. (1/29-2/2)
Sept. 28, 1961 filed 120,000 common. Price—$2.50. Busi¬
ness—Importing of compact appliances and stereophonic
radio and phonograph consoles. Proceeds—For working
capital.
Office—16 W. 32nd St., N. Y.
Underwriter—
Dean Samitas & Co., N. Y.
•
U-Tell Corp.
Sept. 18, 1961 ("Reg. A")
Business
Operation of
33,097 common. Price— $5.
a discount department store.
Office—3629 N. Teutonia Ave., Milwaukee, Wis. Under¬
writer—Continental Securities Corp,, Milwaukee, Wis.
the basis of
one
common
to be
share for each
two shares held.
Price—$4. Business—Manufacture of a
portable device which simultaneously prints and punches
source
of
information.
Proceeds—For
debt
repay¬
ment, equipment and working,capital. Office—Bucabrey
Bldg., Dover, N. H. Underwriter—None.
Val-U
Homes
Corp. of Delaware
Aug. 28, 1961 filed 100,000 common. Price—$5. Business
—The manufacture of prefabricated buildings and shell
homes. Proceeds—For working capital. Office—765 Riv¬
er St.,
Paterson, N. J. Underwriter—Mayo & Co., Inc.,
Philadelphia.
Valley Metallurgical Processing Co. (1/22-26)
Oct.
23, 1961 filed 70,000 common. Price—By amend¬
Business—Production of metal powders for the
rocket, munitions and pyrotechnics industries. Proceeds
ment.
—For debt repayment and
Office—Essex,
Inc., N. Y.
general corporate purposes.
Conn., Underwriter—McDonnell
&
Co.
Van-Pak, Inc. (1/22-26)
Sept. 15, 1961 filed 140,600 common. Price—$15. Business
—A nation-wide and
overseas, non-regulated freight for¬
—
of
vitamin
adelphia.^
•
(1/15-19)
("Reg. A") 54,000 common. Price—$4.25.
Business—Acquisition and development of new patents.
Proceeds—For debt repayment and working capital. Of¬
fice—35-10 Astoria Blvd., Long Island City, N. Y. Un¬
derwriter—-Peters, Writer & Christensen, Inc., Denver.
Voldale, Inc.
Oct.
20, 1961
Volume
Distributors, Inc.
24, 1961 filed 90,000 common. Price—By amend¬
ment. Business—Operation of a self-service family shoe
Nov.
store
chain
ment
stores.
and
shoe
departments in discount depart¬
debt repayment and other
Office—115 W. Crane St., Topeka,
Proceeds—For
corporate purposes.
•
.
("Reg. A") 50,000 class A
on
Sale
products and proprietary
drugs. Proceeds—For debt repayment and working cap¬
ital. Office—3610-14 N. 15th St., Philadelphia. Under¬
writer—Woodcock, Moyer,Fricke & French, Inc., Phil¬
Vornado, Inc.
(2/14)
Dec. 7, 1961 filed $5,500,000 of convertible subordinated
debentures due 1982, to be offered to common stock¬
holders
offered to stockholders
at
Business
Mo.
—
*VIP, Inc.
Dec. 29, 1961
Vitamin Specialties Co. (1/29-12/2)
*
6, 1961 ("Reg. A") 100,000 capital shares. Price—$3.
Nov.
Kan. Underwriter—Stern Brothers & Co., Kansas City,
■;*
■.
(1/29-2/2)
.
,
—By
N. Y.
r,
,
Dec. 26, 1961 filed 95,000 common. Price—$2. Business
—Design, assembly, production and sale of creative arts,
crafts, hobbies and educational toys. Proceeds—For debt
(1/29-2/2)
Sept. 28, 1961 filed 90,250 common, of which 76,250 will7 repayment. Office—68 Thirty-third St., Brooklyn, N. Y.
be sold by the company and 14,000 by stockholders. Price
Underwriters^-Ross, Lyon & Co., and Globus, Inc., N. Y.
•
Steamship Corp.
Aug. 29, 1961 filed 1,743,000 common. Price—By. amend¬
The carrying of liner-type cargoes.
Underwriter—Mayo & Co., Inc., Philadelphia. Offering '► ment. Business
Proceeds—For the purchase of vessels, and working cap¬
—Imminent
■
7
v.,
,A
ital. Office—71 Saint Joseph St., Mobile, Ala. Under¬
O
VarScrranhine
*
writer—Shields & Co. Inc., N. Y. (mgr.). Offering—Ex¬
Dec. 26, 1961 ("Reg. A") 50,000 common. Price—$4. Busi¬
pected sometime in March.
.*
ness—Supplies publishing and technical services to in¬
• Weinkles Liquor Stores, Inc.
dustrial and commercial firms for publishing of printed
matter. Proceeds—For debt repayment equipment, plant
Dee. 27, 1961 filed 165,000 common, of which 80,000 are
to be offered by the company and 85,000 by stockhold¬
improvements and working capital. Office—7133 Darby
ers. Price—$4.50. Business—Retail sale of "liquor In and
Ave., Reseda, Calif. Underwriter — Adams & Co., Los
about Miami, Fla. Proceeds—For working capital. Office
Angeles. Offering—Expected in late January.)
—2305 N. W.
12th Ave.,
Miami, Fla. Underwriter—
: Vassar Corp.
'.u.^
;
Charles Plohn & Co., N. Y. Offering—In April,
v
(
Dec. 27, 1961 filed 124,900 common, of which 55,000 are
Welcome Baby, Inc.
to be offered by the company and 69,900 by stockholders.
Dec. 28, 1961 filed 75,000 common. Price—$2. Business
Price—By amendment. Business—Design, manufacture
and distribution of aids for hair styling, and the pro¬
—Company renders direct mail public relations, sales
duction of eyebrow pencils, lip liners, etc. Proceeds—
promotion and advertising services to mothers on behalf
For debt repayment, equipment and working capital.
of retail stores. Proceeds—For debt repayment and gen¬
Office—585 Gerard Ave., N. Y. Underwriter—J. R. Wileral corporate purposes. Office—210-07 48th Ave., Bayliston & Beane, N. Y. ■
7'-;-;'7;,'7-' 1
■'
7>y side, N. Y. Underwriters-^-Globus, Inc., and First Phila¬
delphia Corp., N. Y.
'•y'vj"';]. '
■•/£.' ,,t
Venus Drug Distributors, Inc.
West Coast Telephone Co.
Oct. 2, 1961 filed 168,000 common, of which 120,000 are
(1/15-19)
to be sold by the company and 48,000 by stockholders.
Dec. 11, 1961 filed 110,000 common. Price—By amend¬
ment. Proceeds—For debt repayment and constructidn.
Price—$5. Business—Wholesale distribution of cosmetics. Proceeds—For new product development, advertis¬
Office—1714 California St., Everett, Wash. Underwriter
ing and working capital.
Office — 4206 W. Jefferson ; —Blyth & Co., Inc., N, Y..
^
;
Blvd., Los Angeles, Calif. Underwriter—Garat & PoloWest Falls Shopping Center Limited Partnership
nitza, Inc., Los Angeles. Offering—Imminent.
Nov. 14, 1961 filed $444,000 of limited partnership inter¬
Vic Tanny Enterprises, Inc. (1/15)
;;
1 ests to be offered.in 444 units. Price—$1,000. Business—
May 11, 1961 filed 200,000 shares of class A common
Development of a shopping center at Falls Church, Va.
to be sold by Mr. Vic Tanny, a stockholder, who will
Proceeds—For general corporate purposes. Office—1411
use
proceeds to repay debt to company. Price—$6.25.. K St., N. W., Washington, D. C. Underwriter—Hodgdpn
Business—The operation of a national chain of gymna¬
& Co., Inc., Washington, D. C. Offering—In February.
375
U. S. Realty Investments
•
For expansion
.
Nov.
Aug.
—
"Office—Civic
,
1961
15,
>'
and general corporate pur¬
Memorial Airport, E. Alton, 111,
Underwriter—White & Co., Inc., St. Louis.
Proceeds
poses.
Proceeds—For debt repayment and working capital.
fice—45th
Co.
filed 562,500 common, of which 472,100
shares are to be offered for subscription by stockholders
of Waddell & Reed, Inc., parent, on the basis of one
United share for each two Waddell shares held.
The
remaining 90,400 shares will be offered to certain per¬
sons
associated with the parent company or its sub¬
sidiaries. Price—By amendment. Business—A legal re¬
serve life insurance company. Proceeds—For the account
of Waddell & Reed. Office—20 W. -9th St., Kansas City,
Mo. Underwriter—Kidder, Peabody & Co., N. Y. Offer¬
ing—Expected sometime in February.
Dec.
.
N. J. TJnderPhiladelphia
Thursday, January 11, 1962
of which 60,0.00 are >to
be offered by the company and .30,000 by a stockholder.
Price—$6.25. Business—Sells Cessna Airplanes and sup¬
plies; also repairs and services various type airplanes.
Varicraft Industries, Inc.
Nov. 7, 1961 ("Reg. A") 120,000 common. Price—$2.25.
Business—Custom design and manufacture of furniture.
capital. Office—Columbus Rd., Burlington,
>writers—Hess, Grant & Remington, Inc.,
and Arthurs, Lestrange & Co., Pittsburgh.
.
Oct. 30, 1961 filed 90,000 common,
change Bldg., Des Moines, Iowa. Underwriter—Hodgdon
& Co., Inc., Washington, D. C.
precision machined parts for the aircraft, missile, elec¬
tronics and nuclear industries. Proceeds—Debt repay¬
ment, research and development, expansion and working
.
Walston Aviation, Inc.
warder engaged in the forwarding of household goods.
Proceeds—To repay debt, purchase metal containers, and
increase working capital. Office — 542 Insurance Ex¬
Continued from page 45
.
the rate
at
shares held.
a
chain
of
of
$100 of debentures for each 25
Price—By amendment. Business—Operates
retail
"discount"
stores
and
manufactures
electric
appliances. Proceeds—For expansion. Office—
174 Passaic St., Garfield, N. J. Underwriter—Bache &
Co., N. Y.
• Voron Electronics
Corp. (1/29-2/2)
July 28, 1961 filed 100,000 class A shares. Price
Westates Land Development Corp.
i
(2/5-9)
Sept. 28, 1961 filed $1,500,000 of 7% convertible subord.
debentures due 1976 and 300,000 common shares to be
offered
in
units, each consisting of $100 of debentures
and 20 common shares. Price—$200 per unit. BusinessGeneral real estate. Proceeds—For debt repayment and
working capital. Office
— 9412
Wilshire Blvd., Beverly
Hills, Calif. Underwriter—Morris Cohon & Co., N. Y.
Western California
Telephone Co.
(2/15)
Dec. 18, 1961 filed 84,000 common to be offered for sub¬
scription by preferred and common stockholders of rec¬
ord Feb. 15, on the basis of one right for each common
share held and two-fifths of a right for each preferred
share held. Two rights will be required to purchase one
new share.
Price—By amendment. Proceeds—For con¬
struction. Office — 15909 San Jose-Los Gatos Rd., Los
( Gatos, Calif. Underwriter—Dean Witter & Co., San Fran¬
cisco.
•/
v■ v.
•
Western "Land' Corp.
Oct. 24, 1961 filed 400,000
k
Price—$2.25. Busi¬
ness—Acquisition, construction and leasing of shopping
centers. Proceeds—For general corporate purposes. Of¬
fice—2205 First National Bank Bldg.,, Minneapolis. Un¬
common.
derwriter—None.
Western Reserve Life Assurance Co; of Ohio
Dec.
29, 1961 filed 213,734 common to be offered for
subscription by stockholders on the basis of two new
shares for each 3 held. Price—By amendment. Proceeds
—For expansion. Office—335 Euclid Ave., Cleveland.
Underwriters
—
McDonald
&
Kraus, Cleveland.
Co., and Ball, Burge &
(;•.
Western States Real Investment Trust
Nov.
13, 1961 filed 32,000 shares of beneficial interest.
Price—$6.25.
Business—A small business investment
Proceeds—For investment.
Office—403
Aurora, Colo. Underwriter—Westco Corp.,
Aurora, Colo.
company.
Ursula St.,
^ Western Union Telegraph Co.
Jan. 10, 1962 filed $50,000,000 of sinking fund debentures
due 1987. Price—By
amendment. Business^Fuxnishes
communications service by wire telegraph and microwave
radio in U.
S., and by ocean cable between U. S. and
foreign countries. Proceeds—For debt repayment and ex¬
pansion. Office—60 Hudson St., N. Y. Underwriters—
Kuhn, Loeb & Co., and Lehman Brothers, N. Y.
Westland Capital Corp. (1/15-19)
Sept. 21, 1961 filed 985,500 common. Price—$11. Business
—A small business investment company. Proceeds—For
Working capital. Office—9229 Sunset Blvd., Los Angeles,
$3.
Business—The manufacture of electronic test equipment,
the sale,. installation and servicing pf industrial and
commercial communications equipment and the furnish¬
ing of background music. Proceeds—For tooling, pro¬
duction, engineering, inventory and sales promotion of
its products and for working capital.
Office •— 1230 E.
Mermaid Lane, Wyndmoor, Pa. Underwriters — John
Joshua & Co., Inc., and Reuben Rose & Co., New York.
—
Calif.
Underwriter—Bear, Stearns & Co., N. Y.
Wham-O
Mfg. Co.
Dec. 26, 1961 filed 145,000 common, of which 72,500 are
to be offered by the company and 72,500 by stockhold¬
Price—By amendment. Business—Design, manufac¬
and sale of toys and games, sporting goods and
housewares. Proceeds—For working capital. Office—835
ers.
ture
E. El Monte St., San Gabriel, Calif. Underwriter—Lester,
Ryons & Co., Los Angeles,
Wade, Wenger ServiceMASTER Co.
Dec.
28,
i961 filed
140,000
capital
shares.
Price—By
amendment. Business—Sale of franchises for on-location
cleaning and moth-proofing .of,rugs, furniture, etc. Com¬
also manufactures and sells cleaning equipment
and supplies to franchise holders. Proceeds—For debt
repayment, new building and equipment and other cor¬
porate purposes. Office — 2117-29 N. Wayne, Chicago.
Underwriter—Laren Co.,. N* Y„
pany
White Electromagnetics,
Inc.
Oct. 5,1961 filed
65,000 common. Price—$3.75. Business
—Rendering of consulting services pertaining to ..elec¬
tronic system analysis. Proceeds—For expansion, pub¬
lication of technical papers, marketing, product develop¬
ment and working capital. Office—4903 Auburn Ave.,
Bethesda, Md. Underwriter—Weil & Co., Inc., Washington, D. C.
,
Volume
Number 6124
195
The Commercial and Financial Chronicle
...
(211)
Wiatt
Nov.
1961
are
(2/5-9)
s
185,000 common, of which 45,000
by the company and 90,000 by
Price—By amendment. Business—Design
manufacture of. ladies'
dresses.
Proceeds—For gen¬
Our
corporate purposes. Office—124 E. Olympic Blvd.,
Los Angeles. Underwriters—Schwabacher & Co., and J.
&
vide for
issue you're planning to register?
News Department would like
an
that
so
we
can
Would
write
(1/22-26)
telephone
you
us
at 25 Park
at
us
prepare an item
REctor
2-9570
Place, New York 7, N. Y.
Jan. 3, 1962 it
162,000 common, of which 102,000 are
the company and 60,000 by stock¬
holders. Priced—$3. Business—Operates a chain of retail.
drug stores. Proceeds—Expansion, equipment and'work- /
ing capital. Office—738 Bellefonte Ave., Lock Haven, Pa.
Underwriter—Godfrey, Hamilton, Taylor & Co., N. Y.
Church
•
Alberto-Culver
-
ufacture and national sale of cosmetic and
-
arations, particularly in the hair care field. Proceeds— 1
For the selling stockholders. Office—Melrose
Park, 111.
Underwriter—Shields & Co., N. Y. " ■■
• ti
;
prep¬
Oceania
International, Inc.
Dec. 27, 1961 it
reported that this company plans to
150,000 common shares.
Price—$5.50. Business—Manufacture of
simulated, peart
buttons. Proceeds—For a new plant.
Office—Brooklyn,
was
S1? a registration covering about
N. Y. Underwriter—Baruch
Brothers &
additional
City.
Office—212
West Michigan Ave.,
Jackson, Mich. Under¬
writers—(Competitive). Probable bidders: Halsey, Stuart
& Co. Inc.; White, Weld & Co.-Shields &
Co. (jointly);
Harriman Ripley & Co. Inc.-First Boston
Corp. (jointly);
Morgan Stanley & Co.
Delaware Power & Light Co.
Feb. 7, 1961 it was reported
that
Dec. 28, 1961 filed 125,000 common. Price—$4. Business
—Design and manufacture of precision electrical and
electronic measuring devices and lest equipment. Pro¬
postponed until early
stock.
common
repayment and otherf corporate pur¬
Office—1005 First Ave;, Asbury Park, N. J. Under¬
10
1962
The
shares
held.
its
the
plan
Based
on
the
has
company
issue
to
the basis of
on
328,912
common shares on the basis of
one new share
for each 20 held of record about
March 1. Proceeds—
For construction.
Office—321 North Harvey St., Okla.
1956
Underwriter—The last
rights offering in March,
underwritten by Merrill
Lynch, Pierce, Fenner
was
& Smith
Inc., N. Y.
Pacific Gas & Electric Co.
Dec. 27, 1961 it was reported that
to
sell
in
1962
additional
made
to
com¬
share for each
one
number
of
shares
out¬
standing on Sept. 30, 1960, the sale would involve about
418,536 shares valued at about $14,600,000. Proceeds—For
Windsor (Kay), Inc.
(1/15-19)
•*
construction. Office—600 Market
St., Wilmington, Del.
Sept. 28, 1961 filed 200,000 class A common. Price—By
Underwriter—
(Competitive) Probablg bikers: Carl M.
amendment. Business—Manufacture and sale of women's
Loeb, Rhoades & Co.,, N. Y.;
C. Langiey & Co., and
dresses. Proceeds—For a selling stockholder. Office—
Union Securities Co.,
(jointly); Lehman Brothers; First
Deane St., New Bedford, Mass. Underwriter—Lee HigBoston Corp.;White,;,Weld & Co., and
Shields &-Co.
ginson Corp,,'. N.Y. .•
v;•' V// ;/ t;'y. /; \,:/.//,;'• /. v;
(jointly); Kidder, Peabody & Co., and Merriil Lynch,
Windsor Texprint, Inc.
Pierce, Fenner & Smith Inc. (jointly).
Aug. 25, 1961 filed 265,000 common, of which 250,000 art
N.- Y. Offering—In Mar.
.
to
struction
program.
cisco. Underwriters
!
and 15,000 by stockholders.
Price—$2. Business—The printing of towels and other
textile
products.
Proceeds—For repayment of loans.
S.:Michigan Ave.; Chicago- Underwriter—
D. E. Liederman & Co., Inc.,
N. Y. Offering—In Feb.
World Scbpe
Publishers, Inc. (1/29-2/2)
^July 31, 1961 filed 300,000common shares. Price—By
amendment. Business—The publishing of encyclopedias
and other reference books. Proceeds—For repayment of
•
•
World Toy House,
Inc. (2/5-9)
Nov." 24, 1961 filed 150,000 common. Price—By amend¬
ment. Business—A manufacturers' broker specializing in
related items. Proceeds
Office—408 St. PeterSt., St. Paul, Minn. Underwriter—Laren Co., N. Y.
,
Fund
Corp.-Halsey, Stuart & Co.
ness—The Fund plans
of
Bldg.y Hamilton,
Co., n. y.
'
to invest primarily in equity se¬
issuers. Office—Bank of Bermuda
foreign
;
Bermuda.: Underwriter
—
Burnham
&
v-
„■
Wulpa Parking Systems, Inc. (2/5-9)
Oct
13„ 1961
("Reg. A") 75,000 common.
Price—$4.
Business—Company plans to manufacture a parking de¬
vice called the "Wulpa Lift." Proceeds—To open loca¬
tions and increase working capital. Office—370 Seventh
Ave., N. Y, Underwriter—Ehrlich, Irwin & Co., Inc., N. Y.
'
1961 filed
150,000
common..
Price—By amend¬
ment. Business—Manufacture and distribution of ethical
.drugs and pharmaceuticals. Proceeds—For a new plant,
product expansion and working capital. Office—91 Main
St., Madison, N. J. Underwriter—Andresen & Cm, N. Y.
Wynlit Pharmaceuticals, Inc.
28, 1961 filed 125,000 common. Price—By amendment. Business—Development and manufacture of pharmaceuticals and medical products. Proceeds—For general
corporate, purposes. Office—91 Main St., Madison, N. J.
Underwriter—Andresen & Co., N. Y.
Dec.
*
■
i
Yankee
Plastics, Inc.
("Reg. A") 100,000 common. Price — $3.
Business—Manufactures plastic hangers and forms. Proceeds
For acquisition of manufacturing facilities and
..working capital. Office—29 W, 34th St, N. Y. Under¬
writer—Sunshine Securities Inc., Rego Park, N. Y. Of¬
fering—Imminent. • • • \
Sept.
was
increase capital and
surplus. Office—333 Montgomery St., San Francisco. Un¬
derwriters—Blyth & Co., N. Y., and Elworthy & Co., San
Francisco.
Resin Research
holders
&
on
a
pro
rata basis. Underwriters—Morris Cohon
Co., and Street & Co., New York City.
★ Hartford National Bank
Jan.
10,
vote
Jan.
1962
31
for
sale
basis
same
of
,
of
it
was
:
v
!
& Trust Co.
reported
that
stockholders
are
to
increasing authorized stock to provide
170,000 new shares to stockholders on the
one
on
new
share
for
each
seven
held
of
record
date.
Price—$45. Proceeds- -To increase capital and
surplus. Office—300 Main St., Stamford, Conn. UnderUnderwriter—None.
\
.
8, 1961
—
Yeuthcraft
Creations,
Inc.
(2/13-16)
that this company plans
registration covering 65,000 common. Price—$5.
Business—Importers of Japanese liquors and liqueurs.
Proceeds—For expansion. Office—Beverly
Hills, Calif.
to file
a
Underwriter—P. J. Gruber & Co., Inc., N. Y.
6, 1961 filed 130,000 class A shares, of which 20,000
are to be offered by the company and 110,000 by stock¬
holders.- Price—By amendment. Business—Design
and
manufacture /of foundation garments for "juniors" and
Proceeds
—
To finance increased accounts
ceivable and for other corporate purposes.
/ Borden
re¬
Office—21-09
Ave.,/ Long Island City, N„ Y.; Underwriter—
'"Paine,."Webber;/Jackson.
CurtiS, N. Y. /'•/.
y.; ."
research and develop¬
polymer chemistry and plastics
technology. Proceeds — For expansion, diversification
and working capital. Office—400-06
Adams St., Newark,
N. J. Underwriter—Keene &
Co., Inc., N. Y.
ment
in field of resin's
★ Seaboard Air Line RR. (1/23)
Jan. 9, 1962 it was reported that this
company plans to
sell $5,565,000 of 1-15 year
equipment trust certificates
January. This is the first installment of
a
total issue
of
$11,130,000 which will help finance the purchase of
$13,929,533 of additional rail equipment. Office—3600 Wk
Broad St., Richmond, Va.
Underwriters—(Competitive)
Probable bidders: Halsey, Stuart & Co.
Inc., and Salo¬
mon
Brothers & Hutzler. Bids—Jan. 23
at office of
(12
noon
EST)
Wilkie, Farr, Gallagher, Walton & Fitzgibbon, 15 Broad St., N. Y.
Office—315
Central
Park
F. Dowd & Co.
Probable bidders: Chase Manhattan
Bank-Morgan Guar¬
anty Trust Co. of New York-Chemical Bank New York
Trust Co.-C. J. Devine & Co.-Continental Illinois Na¬
tional Bank & Trust Co. of
Chicago
(jointly); Blyth &
Co., Inc.-J. C. Bradford & Co. (jointly); Halsey, Stuart &
Co. Inc.-Equitable Securities
Corp.-Smith, Barney & Co.First National City Bank of New York
(jointly); First
Lazard Freres & Co. - Eastman Dillon,
Securities & Co.-Salomon Brothers & Hutzler
(jointly). Bids—Expected Jan. 24.
;
Boston
Corp.
-
Union
,
West, N. Y.
Oct. 2, 1961 it was reported that this
company plans to
sell $30,000,000 to $40,000,000 of securities in mid-1962
but no decision has been made yet gs to
type. Office—
Richmond 9, Va. Underwriters—To be named. The last
sale of bonds in June 1961
6
Jaap Fenraat Associates, Inc.
(and Visual Education, Inc.)
Dec. 12, 1961 it was reported that a full registration will
be filed shortly covering 100,000 common.
Price—$3.
-Business—Industrial designing and the production of
teaching machines. Proceeds—To expand teaching ma¬
chine
subsidiary, and for other corporate purposes.
Underwriter—R.
was
handled by Halsey, Stuart
Co., Inc. and associates.
West
Penn
Power Co.
(3/5)
Feb.
10, 1961, J. Lee Rice, Jr., President of Allegheny
Power System, Inc., parent
company, stated that West
Penn expects to sell about $25,000,000 of bonds in 1962.
Office
—
800
Cabin
HOI
Drive,
Hempfield
Township*
Westmoreland County, Pa. Underwriters—To be deter¬
mined by competitive bidding. Probable bidders:
Halsey,
Stuart & Co. Inc.: W. C. Langiey & Co.; Lehman Broth¬
Inc., N. Y.
Eastman Dillon, Union Securities & Co., and First
Boston Corp. (Jointly): Harriman
Ripley & Co.; Kidder,
Peabody & Co. and White. Weld A Co (jointly). Bid*—
Expected March 5. Information Meeting—March 2, at
ers;
ic Japan Development Bank
Jan.
10, 1962 it was reported that the Japanese Finance
Ministry had authorized the bank to issue $30,000,000
of
Dec.
women.
a
full filing will be
Price—$3.50. Business
Virginia Electric A Powar Co.
House of Koshu, Inc.
Nov. 13, 1961 it was reported
■
*
Laboratories, Inc.
Dec. 20, 1961 it was reported that
made covering 105,000 common.
★ Gulf American Land Corp.
"■"■it Tennessee Valley Authority (1/24)
Jan. 10, 1962 it was reported that stockholders are to
Jan. 9, 1962 it was reported that the
Authority plans
6 on increasing authorized stock to
to sell $45,000,000 of bonds in New York
provide
City at competi¬
for a 300% stock dividend and sale of
tive bidding in January. Proceeds — For
construction.
$12,000,000 of con¬
vertible debentures which would be offered to stock¬
Office—Knoxville, Tenn. Underwriters—(Competitive)
t
/Wynlit Pharmaceuticals, Inc.
27,
(jointly);
• Pacific
National Bank of San Francisco
Jan. 9, 1962 stockholders voted to
increase capital stock
to provide for the sale of
119,200 additional shares to
stockholders on the basis of one new share
for each
5 shares held of record
Jan. 10 with the rights to
expire
Jan. 21. Price—$45. Proceeds—To
in
reported that stockholders are to
vote Feb. 15 on
increasing authorized stock to provide
for sale of 49,875 additional shares to
stockholders on
the basis of one new share for each 11. held of record-,
.
Nov.
it
Inc.
Blyth & Co., Inc.
vote /Feb.
Sept. 19, 1961 filed 100,000 common. Price—$100. Busi¬
curities
1962
Market St., San Fran¬
(Competitive). Probable bidders:
.
(1/29-2/2)
Ltd.
10,
Feb. 20. Price—$40. Proceeds—To increase
capital and
surplus. Office—300 Main St., Stamford, Conn. Under¬
writer—None.
*'*
.i—For^ general corporate purposes.
Worldwide
Michael McDarby
Fairfield County Trust Co.
Jan.
working capital and
the sale of toys, hobby goods and
registration state¬
a
—Philadelphia, Pa. Underwriter—T.
& Co., Inc.,
Washington, D. C.
general corporate purposes.
Office—290 Broadway, Lynbrook, N. Y,: Underwriter—
.Standard Securities Corp., N. Y.
■
' .v
:debt;
plans
—Company is engaged in applied
covering 100,000 common.
Price—$4. Business—The servicing of vending machines
and coin operated kiddy-rides. '
Proceeds—For equip¬
ment, inventory and general corporate purposes. Office
•
Office--2357
Diversified Vending, Inc.
Sept. 13, 1961 it was reported that
ment will be filed shortly
company
Office—245
—
.
-
the
$100,000,000 of securities, probably bonds,
help finance its proposed $221,000,000 con¬
some
First Boston
offering would be
stockholders first
mon
ceeds—For debt
to be offered by the company
Co., Inc., N. Y.
Oklahoma Gas & Electric Co.
(3/1)
Dec. 13, 1961 it was reported that the
company plans to
offer stockholders the
right to subscribe for
-Ar Consumers Power Co.
Jan. 9, 1962 it was
reported that this company plans to
sell about $40,000,000 of
securities, probably first mort¬
gage bonds, about mid-year. Proceeds—For construction.
Winslow Electronics, Inc.
writer—Amos Treat & Co., Inc.,
—
bidders: Morgan
Stanley & Co.;. First Boston Corp., and Halsey, Stuart &
Co. Inc. (jointly). Bids—Expected Feb. 14.
.
poses.
Manufacture of heavy duty
equipment for
trucks, busses and military vehicles. Proceeds—For additional working capital. Office
834 No. Seventh
St.,
Minneapolis. Underwriter—To be named.
Underwriters—(Competitive). Probable
.
90,000 common. Price—By amend¬
ment. Business — Sale of doughnut mixes to franchised
operators' of doughnut shops leased from the company.
Proceeds—'For the selling stockholder.. Office—1140 W.
Main St., Alhambra, Calif. Underwriter—McDonnell &
Cc.. Inc.. N.Y;
O'/ ■; ' \
; v
A./-•
reported that the company is consid¬
Telephone & Telegraph Co. (2/14)
20, 1961 it was reported that the company plans
to sell $300,000,000 of debenture bonds due Feb.
1, 1994.
Proceeds—For expansion. Office—195
Broadway, N. Y.
(1/15-19)
House, Inc.
toiletry
American
shares.
Donut
was
Dec.
1961 filed
26,
to
—
Co.
1961 it was reported that a full filing will be
made shortly covering
125,000 common. Business—Man¬
St., Santa Maria, Calif, Underwriter—None.
WincheSI
Sept.
Business
Prospective Offerings
Price—$27 per unit. Business
.—Operation of supermarkets., Proceeds—For : debt re¬
payment, working capital and expansion. Office—115 E.
common
are
stock to pro¬
ering the public offering of 250,000 common shares "in
near
future providing the market is
favorable.''
.
two
increasing authorized
the
Dec. 20,
^ Williams Bros, Markets, Inc.
>
Jan. 2, 1962 ("Reg. A")/ll,lll preferred and 22,222 com¬
mon to be offered in units consisting of one preferred
and
on
a
Underwriters—Rauscher, Pierce & Co., and First Southwest Co., Dallas.
Napco Industries, Inc.
or
Oct. 27, 1961 filed
to
be offered by
Wiggins Plasties, Inc.
Oct. 20, 1961. ("Reg. A")
100,000 common. Price—$3.
Business—Custom compression, transfer and injection
molding of plastic materials. Proceeds—For debt re¬
payment and general corporate purposes.
Office—180
Kingsland Rd., Clifton, N. J. Underwriter—Investment
Planning Group, Inc., East Orange, N. J. Offering—Ex¬
pected in mid-February.
16, 1962
10% stock dividend sale of
100,000 additional
shares to stockholders on the basis of one
new share for
each 15 shares held of record Jan. 16.
Price—$36. Pro¬
ceeds—To increase capital funds.
similar to those you'll find hereunder.
N. Y.
(L. F.), Inc.
vote Jan.
Corporation
to know about it
Co., San Francisco; and Bear, Stearns & Co.,
Widmann
Nov.
ATTENTION UNDERWRITERS!
Do you have
eral
Barth
Mercantile National Bank at Dallas
(Tex.)
15, 1961 it was reported that stockholders
filed
be offered
to
stockholders;
and
Co.
(Norman)
28,
shares
47
Guaranteed
External Loan Bonds, preferably in the
S., in fiscal 1962. Business—The bank was incorpor¬
ated in 1951 as a Japanese Government financial insti¬
tution to supply long-term funds to Japanese
industry
10:30
U.
for promotion of economic reconstruction and industrial
development.
Office—Tokyo,
Japan.
be named. The last sale of bonds
on
Underwriters—To
Oct. 3,
1961
000,008) was underwritten by First Boston Corp.,
Read & Co: Inc., and Smith, Barney &Co., Inc.
($20,-
Dillon,
a.m.
(EST) at 55 Wall St., 5th Floor, N. Y.
Wisconsin Southern Qss Cs.
Dec. 12, 1960 it was reported in a company prospectus
an undetermined amount of capital stock or bonds
will be sold hi 1961-1962. Proceeds—For the repayment
that
of
short-term bank loans
Incurred for property addi¬
Sheridan Springs Road, Lake Geneva
Wis. Underwriter—The Milwaukee Co., Milwaukee, Wis,
tions.
Office
—
48
The Commercial and Financial Chronicle:,
(212)
j Thursday, January 11,. 1962
.
V.
COMING
WASHINGTON AND YOU
<
behind-the-scenes interpretations
,
capital
from the nation's
IN INVESTMENT F1ELU
face the
the 87th
Congress
of
session
lawmakers reconvened
the
as
on
early spotlight of
be centered on
the
of
Much
will
the
session
the
important
Ways
House
and
will
con¬
Means Committee which
taxation, more liberal trade
sider
medical care-for-
and a
the-aged bill.
policies
the Senate will be¬
week
Next
debate on a House-approved
designed to clear the way for
the du Pont Company to divest
than
of General
Motors stock without drastic eco¬
shares
Under
ramifications.
nomic
the
present laws, harm would be done
to the 200,000 stockholders of both
du Pont and the 840,000 stock¬
holders
will
It
that the Senate will
appears
the legislation, and send
it on its way to the White House
for
President
Kennedy's
signa¬
approve
weeks. There
there will be some
before
ture
many
likelihood
is
necessi¬
being
returned
to
the
for concurrence,
but the
that
amendments
it
tate
House
bill
might
William
When
adjourned last
seemed that the
Congress
it
September,
medical
aged
the
for
bill
care
had little chance of passage.
not certain that it will pass
changed
the
has
reasons
vision
Association
of
American
and
medical
state
V
others.
among
There
num¬
a
groups,
considerable
been
has
take
place as a result of the new lead¬
ership in the House created by
speculation as to what may
of
death
the
been
Southern
licans for
Democrats
has
of
Repub¬
and
try
and without any fixed agreements,
will continue
of
to function on some
liberal
ultra
the
issues
that
sociation
Jan.
Congressional
year.
flCgv
necessity
be
a
place.
,l.
The
amount
tremendous
•
of
take
to
have
will
'Ay:.
of the Treas¬
Department
has its plans laid for the big
borrowing,
which may
present
ury
difficulties, particularly if
money gets tighter and the cost
of borrowing goes up.
some
The
Stock
There
that
is
the
possibility
strong
a
House
Ways
constitution, may report out fairly
early some tax legislation;
mendation
Kennedy, on recom¬
the Treasury
De¬
of
suggested - t h a t
provisions
of
tax laws permitting tax¬
to exclude the first $50
partment,
Congress
current
has
,.
that
travel
and
would
entertainment
all
and
meals and
Congress
reconvened
the
House was composed of 258 Dem¬
there
crats
was
and
have to be "reasonable."
No
General
posal, along with lumbering
mining interests.
Revision in
Tax
Prospect
President
to
Kennedy is expected
dispatch
Congress
designed
program
36
stranglehold
Republicans.
Obvi¬
Democrats
have
a
Liberal Trade
the
On
one
of the
controversial proposals
The
Under
will be
law
the
Presi¬
dent's power to negotiate trade
agreements will come to an end
on
June
in
1934.
it
11
30.
This law
Congress
was
has
passed
mutual
posal
that
been
has
details
mined.
not
associations and
savings banks will face
more
point where they
a
in line with taxes
Treasury
The
Deductions
expense
-accounts
relative
The President
mended
New York
Boston
Telephone
CAnal 6-8481
Richmond 2-0420
proposal
late
in
that
would
the
would
it
to
go
Congress
session, which
go
means
the
until
over
There
state
is
mild
a
delegations
provide
care
loss
of
some
Congress
increase in
for
Members:
American
{':•
'
Stock
in effect that the
tax
deduction
for
340 Main St.,
(Assoc.)
Worcester 8, Mass.
Tel.: PLeasant 4-3295
Direct
Committee
restrictions
be
of those states that face
or
one
be
committee
made
-
also
related
House
There
laws
members
population
of
of
V '
the
:
this year. Thus,
to keep certain
functioning.
These include
extension
which
F.
the
Borneman
of
the
1948
the
Mr.
ductions
a
September,
and
last
endorsed
servationists
joined
in
&
an
by
con¬
the Administra¬
'
meeting at the Dearborn Inn.
Bankers
N. J.)
nual convention.
in
Prior to
Oct.
he
Association
was
Socony
Herman F. Borneman
Oil
Borneman
Business
Oct.
a
is
also
director
a
of
Capital
ViceWood-
in New York.
J. K.
Firms
is
Board
(Los
Stock
;
than
$25
Governors
of
..
committee
to
4, 1962 (Boca Raton, Fla.)
National
Security
*
Asso¬
engaging
25-30, 1962 (Hollywood, Fla.)
Investment
Ken¬
in
Annual
Beach
Bankers
Association
Convention at Hollywood
Hotel.
a
securities business from offices at
159
Attention
Forty-fifth Avenue.
Brokers and Dealers
MARKETS
..
Botany Industries
Maxson
Films
Waste
Our
Carl Marks & Co. Inc.
FOREIGN
SECURITIES
New
York
.
Electronics
Official
of
no
nor
could
would
20 BROAD
de¬
taken
for
King
telephone number
is
CAnal 6-4592
*
STREET
TEL: HANOVER 2-0050
•
SPECIALISTS
NEW YORK 5,
N. Y.
TELETYPE NY
1-971
LERNER & CO., Inc.
Investment. Securities
10 Post Office
HUbbard
re-
.
...
.
••*.
Square, Boston 9, Mass.
Telephone G-
:
also
Traders
American Cement
pro¬
deducted
:
meet¬
.
committee
that
gift,
be
Angeles)
Exchange
ing at the Ambassador Hotel.
Nov.
Hurley Opens
Hurley
1962
of
Mark
ciation Convention.
PETERSBURG, Fla.—J
neth
Exchange
Corpora¬
small business investment
company
Stock
Fall
11-12,
an¬
...
(San Francisco)
of
Association
Nov.
tion,
v
Meeting at the
Hopkins Hotel.V .-;
,*
Company Inc.
rock
8-9, 1962
Firms
associated
and
Association
Sept. 23-26, 1962 (Atlantic City,
1960.
Mr.
(Santa Barbara,
Governors Meeting.
of
that
Mobil-.
spring party.
American Bankers Association
Assistant
with
(Detroit, Mich.)
Governors • spring
of
2-1990,
,
..
»>.
Teletype
■'AC'-/ BS 69
4
-?i
Association
Stock• Exchange
of
Firms Board
Investment
elected
Treasurer
Association
Board
and
1959
was
May 14-15, 1962
Sept; 19-21, 1961
Calif.)-
Schroder
Rockefeller
*
...
Bankers
TRADING
enter¬
$25 could be
business
club dues.
The
The
require
over
the
A
con¬
Hotel.
(White Sulphur
Dealers, annual
Borne¬
Sugar
Senate
Olympic
Nashville Association of Securities
of the firm.
ST.
passed
the
at
May 17-18, 1962 (Nashville, Tenn.)
'
President
,
number of existing
a
that expire
is needed
action
laws
are
announced
require
directly
income.
would
Tele.? WO 395
Fitchburg, Mass.
(Seattle, Wash.)
of
Mutual
income
would
where
only
tainment
more
Woonsocket, R. I.
more
there seems to
this being done.
Representatives is
chance
no
The
has
Herman
of
New
.
series
an¬
Association
instead.
The
a
America,
Springs)
entertain¬
imposed
for
phones to:
National
with.
How¬
the House Ways and Means
ever,
of
meeting at the St. Anthony
May 6-9, 1962
be done away
ducing
Exchange
an
However,
census.
Broadway,
Incorporated
in
stir
to get
recorded by the 1960 decennial
as
61
Company,
1963 session.
that deductions for entertainment
S.ROMANOFF CO.,Inc.
nual
last year recom¬
ment
Central New England
/
to
Association
ers
Hotel.
meeting of Board of Governors..
Treasurer-^-
as
The Wilderness Preservation Bill
expected
for tightening the rules
City,
election
man
on
Administration is
press
on
Incorporated,
the
said
programs.
Entertainment
(San Antonio,
;
*
.
1962
Tex.)
or
Schroder Rockefeller & Company,
Act, and the wheat and feed grain
entertainment deductions.
For Distribution in
a
April 8-10,
Rockefeller .& Co.
and
deter¬
been
already unwieldy.
chances ap¬
hand
commercial banks.
to
times.
picture
the Waldorf Astoria Hotel.
Investment
re¬
postponed,
had
The
.
loan
tax increase to
extended
Regardless of what type of law
the
but
50-50 that the tax-sheltered
pear
savings and
Champions
May 9-12, 1962
York
reported
Treasury
.
this
at
appears
other
of Houston
30, 1962 (New York City)
Ne,w York Security Dealers As¬
sociation 36th Annual Dinner at
NamedbySchroder
cently that the tax overhaul pro¬
a
,/
recommendation of
the
that
will come before Congress is the
socalled reciprocal trade question.
present
$50.
Mr. Kenney will not be approved
Proposals
all indications
From
most
that
by
Congress,
could change
Congress.
on
time
Club
at., the
outing
ference
the Department of the
Treasury and on Capitol Hill.
because of the shift in
it
(Houston, Tex.) u
Bond
Savings Banks 42nd annual
country.
take
equal to 4% of
over
may
coincide with the "Chronicle's"
views.]
own
Perhaps
his
program
will contain some
surprises, but most of them may
be expected from discussions that
have
taken
place at the White
the
of
growth
ments
amount
at
■;
:
membership in House members to
However,
may not
economic
the
accelerate
and
and to deduct from their tax pay¬
an
from the nation's Capital and
tax reform
to
stimulate
broad
a
repeal
dividend income
Asso¬
Dinner
Texas Group of Investment Bank-,
^
the scene" interpretation
the "behind
this session to
sometime
and
[This column is intended to reflect
■
to
composed of 64 Demo¬
the
ously
The
vacancies.
five
were
Senate
Republicans and
174
and
ocrats,
through. .Several of the Western
States
are
opposed to the pro¬
lodging would
in dividends from taxable income
As
tion, will face tough going in the
House.
It probably will not get
for
deductions
all
have to be substantiated in deta'l,
Means
and
Committee, where all tax legisla¬
tion must originate under our
President
2, 1962
and
annual
House,
Picture
Tax
Traders
Winter
Annual
Golf Club.
June 30.
debt
is
about
$297 billion.
During this
year $56 billion of marketable se¬
curities
will
mature,
and
this
a
(Boston, Mass.)
Securities
March
need
to temporarily
public debt limit. The
reborrowing
(Chicago, 111.)
,
present law expires on
Our
present
national
means
1962
March
quire
of
Dinner
Continental.
the Statler Hilton Hotel.
the
Raised
will
9,
ciation
Federal Debt Limit Must Be
There
Winter
Annual
at the Ambassador West.
Boston
during
debated
sharply
(Kansas City, Mo.)
29, 1962
Feb.
tremely important, is but one of
the numerous proposals that will
be
meet¬
Chicago annual midwinter dinner
legislation, while ex¬
The trade
Exchange
Investment Traders Association of
in this country.
down prices
Stock
Governors
of
Security Traders As¬
the Hotel
at
hold
to
help
Din¬
(Washington, D.C.)
of
Board
Kansas City
the
at
and
more,
would
time
payers
might arise.
of
permit this coun¬
would
export
to
Winter
ing at the Statler Hilton Hotel.
trade
testimony that lowering
barriers
The coali¬
unofficially
operating
while
be
to
There
long time.
a
Ray-
coalition
conservative
a
tion,
unlikely
change.
marked
any
is
There
burn.
Sam
Speaker
Firms
former Secretary of
State Christian Herter, insisted in
his
Mid
Southern Hotel
Jan. 22-23,1962
with
report
Annual
at the
Association
the
joint
Truman Administration, in a
di¬
the
been
the
between
Medical
ber
has
One
but
sentiment
in some quarters.
session,
of
It is
at this
SECURITIES
in
Clayton
L.
J
(Baltimore, Md.)
Jan. 25, 1962
Secretary
Under
Former
State
increase the
Coalition Unimpaired
ciation
-
-
Meeting and Dinner
19, 1962
ner
disruptions would be less than is
legislative
law.
JAPANESE
maintained that the
generally feared.
(Philadelphia, Pa.)
Securities Associa¬
Baltimore Security Traders Asso¬
trade
others
Annual
Jan.
great disruptions if
liberalizations,
some
are
while
becoming
of
assured
seems
be
there
1962
at the Barclay Hotel.
re¬
were
17,
tion
KELLY
more
feared of course that there
fame
Motors.
General
of
that
witnesses
30
nesses
bill
63,000,000
heard
subcommittee
Jan.
Philadelphia
AND
garded as outstanding in their re¬
spective fields.
Some of the wit¬
gin
its
O'TOOLE
Congress eventually gets around
to passing, some industries prob¬
ably will get hurt.
During the
Congressional recess a Congres¬
sional
Hill.
Capitol
'
o m e
important issues
highly
last
j—■
C.—S
D.
WASHINGTON,
MURPHY
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@FedFRASER