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ESTABLISHED 1S39
In 2 Sections
—
Section 2
Reg. U. S. Pat. Office
Volume
183
Number 5532
New York 7, N.
Y., Thursday, May 10, 1956
OF NEW YORK,
20th ANNUAL
J
Price 40
INC.
V
AT WALDORF-ASTORIA
DINNER
APRIL 27, 1956
President
First
Second
V ice-President
V ice-President
Treasurer
Secretary
Edward J. Kelly
Carl M.
Loeb,
Rhoades & Co.
Nathan A. Krumholz
Siegel A Co.
Daniel G.Mullin
Henry Oetjen
McGinnis &
Company
Tucker, Anthony A
/
~\
Co.
Barney Nieman
Carl
Marks
A
Co.
Inc.
DIRECTORS
Bernard J. Conlon
P. F. Fox A Co. /.
Edward A. Horn
Kuhn, Loeb A Co.
George V. Hunt
A.
T. Geyer A Hunt
Reginald J. Knapp
Wilbur Krisam
Ira Haupt A Co.
John C. Legg A
Company
Alfred F. Tisch
Daniel D.
McCarthy
Union Securities
Harry A. Michels
Allen
A
Company
Lewis H. Serlen
Josephthal
A
/ William F. Thompson
Greene and Company
Co.
Corporation
y
\
Cents
*■
Fitzgerald A
Company
Incorporated
a
Copy
The Commercial and
Financial Chronicle
..
Thursday, May 10, 1956
.
2
With Sincere Thanks to All
Finally,
Well, the Twentieth Annual Dinner of STANY is to
be found in the files and in the fond memories of
something
over
1,700 attendants from all over the
country. Pridefully I can say it
of
make dinner for a month
former
all
were
is
Chairman
Dinner
always
-
wholeheartedly.
us
we
"giant step."
suade
an
old
we
When you per¬
pro
Edward j. Keiiy
dinner,
perfect
show.
with
a
a near-
one
wonderful
may
I learned his secret, too;
of you.
I
say
I
do is stay downtown with Ellie Smith, work¬
ing till after midnight every night for about four
Financial
men
fast
For that excellent
fellow officers and directors of
To
you
delighted to
see every
who came from out of town
"Thank You." Come back to see us often.
with the red
weeks.
Chronicle
grateful.
say we were
You'll find every
all you
member of STANY a good fellow
carpet out for you.
Sincerely,
Then you
"Fabulous
the
with the
up
the result of which you see in this issue,
all extremely
STANY may
Heaney to run the deal you're
bound to wind up
are
On behalf of my
Mike
like
Result, he doesn't
comes
the hotel, snapping pictures as
over
coverage,
took one extra
But let's be hon¬
est—I cheated.
and
they could line up subjects.
as
Hwas the best/yet. The best yet
given to
Perhaps
and
Commercial
The
and
Presidents
and Horn to stand by
biggest "Journal" ever.
improve
experience. The knowledge
our
dig into last year's Committee, pull
advise, needle him every day.
to
because every year we
from
you
Jack Barker, ask Tisch
out
slip in Stan Dawson-Smith running the
Forty" and
your
STANY bonds
are
EDWARD J.
KELLY, President
"out
Security Traders Association of New
window."
York, Inc.
Offices in:
NEW YORK
BROOKLYN
ROCHESTER
SYRACUSE
PHILADELPHIA
ALLENTOWN
LANCASTER
SCRANTON
YORK
CHICAGO
CHICAGO HEIGHTS
SAN FRANCISCO
BERKELEY
CARMEL
OAKLAND
SACRAMENTO
main
office:
120
Broadway, New York 5, N. Y.
SALINAS
SAN MATEO
SANTA CRUZ
SANTA ROSA
STOCKTON
ATLANTIC CITY
EAST ORANGE
Underwriters and Distributors of Corporate
Securities
MORRISTOWN
VINELAND
WINSTON-SALEM
©
Underwriters and Distributors of State, Municipal
DURHAM
and Revenue Bonds
SALISBURY
RALEIGH
MINNEAPOLIS
© Primary Markets in Many Unlisted Securities
Correspondents in:
ALEXANDRIA
BUFFALO
©
Brokers in Securities and Commodities
©
Investment Advisory Service
i
CHICAGO
DENVER
DES MOINES
DETROIT
INDIANAPOLIS
KANSAS CITY
©
LINCOLN
Members New York Stock Exchange, American Stock Exchange,
OMAHA
and Other
ST. LOUIS
Principal Exchanges
PITTSBURGH
SIOUX CITY
TORONTO
Volume 183
Number 5532
John
Sutro
De
Maye,
Bros.
John
&
.
.
Co.;
.
The Commercial and Financial Chronicle
Harry
Zeeman,
J. O'Kane, Jr. & Co.;
Carl
Marks
&
Co.,
Inc.;
John
J.
3
O'Kane,
Jr.,
Michael
J.
Harold B. Smith, Pershing & Co.
Heaney, Michael J. Heaney
Graham
Henry Rumpf, Charles A.
George J. Elder, Straus, Blosser & McDowell, Detroit; John W. Bunn, Stifel, Nicolaus & Company,
Incorporated, St. Louis; John Latshaw, E. F. Hutton & Company, Kansas City, Mo.; William J. Burke,
Jr., May & Gannon, Inc., Boston; Joseph E. Smith, Newburger & Co., Philadelphia;
Lex Jolley, Robinson-Humphrey Company, Inc., Atlanta
& Co.; Francis J. Keenan, County
Bezer, Morton Grayson, Lacy Kux, and Stephen Floersheimer,
all
of Sutro
Bros.
&
Co.
:
SEATTLE
■■I
_
m SPOKANE
PORTLAND
BOSTON
MINNEAPOLIS
m SPRINGFIELD
DETROIT
-d
■VELAND
NEW
YORK
eureka
Sacramento
CHICAGO
PITTSBURGH
'♦•oakland
J
PHILADELPHIA
INDIANAPOLIS
i£AN FRANCISCO
l\fsan jose
LOUISVILLE
\ '••••«•§ fresno
PASADENA
Blyth6,Co., Inc.
LOS ANGELES
PRIVATE
^
LSAN DIEGO
Blyth S. Co.. Inc.
Underwriters and ^Distributors
NATIONWIDE
Trust Company, Yonkers;
Walker, Joseph McManus & Co.; Oliver J. Troster, Troster, Singer & Co.
of Securities
WIRE
SYSTEM
A
I
Our Axiom of
Institutional Investment
Service
From the NSTA
To
the
Officers, Directors and Members of STANY:
Let
quet.
me
congratulate
It has been
enjoyed them
Please invite
Twenty
—
me
my
occasion of this,
you on
your
20th annual ban¬
pleasure to be your guest at several of these.
I
the food, the entertainment and the association with you.
again next
are
a
lot of
year.
The Securities Traders Association of
years.
New York have
your
put those years to good use.
predecessors have moulded STANY into
and influential
organization
You and
strong
a
truly representing all that
—
good traders should be and are.
You have had
Financial institutions
avail themselves of
invited
are
our
to
capable, hard working management.
They have done much for
services.
for the
you
inside the Association and
position you occupy in the securities industry.
Keep that record inviolate — take
SALOMON BROS. & HUTZLER
Dealers and Underwriters
Members American Stock
Jolley
officials
policies
are
are
a
keen interest in the
your
Association —
see
adopted and that dependable
elected.
The National
Security Traders Association is planning
a
great conven¬
Chicago
tion at Palm
West Palm Beach
Dallas
San Francisco
N. Y.
Cleveland
Philadelphia
Lex
Exchange
sound
political affairs of
Exchange
SIXTY WALL STREET, NEW YORK 5,
Boston
that
of High-Grade Securities
Members Hew York Stock
business and
Springs, California, in late October. I know many of you will
be there with
me.
New York
always has
a
good representative
group
at
N.S.T.A. conventions.
Sincerely,
UNDERWRITERS
LEX
DEALERS
JOLLEY, President
National Security Traders Association,
Inc.
BROKERS
id an j
foreign
Common
tyiawitty wtb a&wty 1bland in
Securities
FRANKLIN SQUARE
GLEN
BELLMORE
GREAT NECK
ELMONT
INWOOD
ROCKVILLE CENTRE:
MINEOLA:
COVE
SOUTH SHORE
COUNTY SEAT
PLAINEDGE
,
(MAT.
t
***
FARMINGD ALE
LEVITTOWN
ROOSEVELT
SEA CLIFF
FLORAL PARK
NEW CASSEL
ROOSEVELT FIELD
UNIONDALE
Sixh
The Franklin National Bank
l^nceS'-
of
Mutual
funds
Franklin Square
capital
t
PLAZA
ROSLYN
Industrial Band'
and
*
STATION
HERRICKS ROAD
stock
(Par Value $5 Per Share)
Bought—Sold—Quoted
pf\bodv
&co-
Copy of Annual Report—1955
upon request
»«»»»""
Blair
SB,W
in
c
&> Co.
orporated
44 WALL STREET
©
NEW YORK
5, N. Y.
Telephone DIgby 4-4000
Offices in many principal cities throughout the country
\
Volume
183
Number 5532
.
.
.
The Commercial and Financial
Chronicle
5
John French,
A. C. Allyn and Company, Incorporated; James J. Lee, W. E. Hutton &
Co.; Oliver J.
Troster, Troster, Singer & Co.; Sam Felstein, ,4. G. Edt ards & Sons, St.
Lcuis; Francis J. Keenan,
Country Trust Company, Yonkers, N. Y.
Thomas
C.
Brown, 3rd, Robert King, Jerry Burchard, and Hal S. Chapman, all of Charles
King & Co.
For Fast Service
TROSTER, SINGER & CO.
Members:
HA
74
2-2400
N.
Y.
Security Dealers Association
Trinity Place, New York 6, N. Y.
NY
1-376
Private Wires to—
Chicago
Glore, Forgan & Co.
Cleveland
Gottron, Russell & Co.
Dallas
__Dallas Union Securities Co.
Detroit
—
Grand Rapids-
_
Hartford
Houston, Texas
Los Angeles
Baker, Simonds & Co.
King & Co.
Coburn and Middlebrook Inc.
__Underwood, Neuhaus & Co.
Harbison & Henderson
I
Philadelphia
Pittsburgh
St. Louis
H. A. Riecke & Co. Inc.
Arthurs, Lestrange & Co.
Fusz-Schmelzle & Co.
Clarke
Simonds, G. H. Walker & Co., Providence, R. I.; Wilfred G.
Conary, G. H. Walker <ft Co.,
Providence, R. I.; Harry Michels, Allen & Company; Irving Greene, Greene and
Company;
Irwin Mitchell, Walston &
Co., Inc.
Jack
Barbaso, Goldman, Sachs & Co.; Mickey McBride, Midland Securities Corpn.
Ltd., Toronto,
Canada; Charles Goodeve, F. B. Ashplant & Co.; Bill Galbraith, Salomon Bros. &
Hutzler
The Commercial and Financial Chronicle
6
Paul
Arne
...
Thursday, May 10,1956
Crosby, Bell, Gouinlock A Company, Incorporated} Fremont W. Robson, F. B. Ashplant & Co.;
Fuglestad, Burns Bros. A"Denton, Inc.; Joseph F. Eilert, Harriman Ripley & Co., Incorporated
Herb Gesell, Kugel, Stone A Co.; Inc.; Norbert
Robert N. Naylor, H.
Woods, R. L. Day A Co.; John Halk, R. L. Day A Co.;
N. Nash A Co., Philadelphia
i
m
I
i
Brokers
in
i
ii
Stocks
1
Bonds
and
■a-/.
Underwriters and Distributors
/
M
of
Dr.
Corporate
and
Municipal
Harry A. Ballweg, (guest); A1 Tisch, Fitzgertdd A Company, Incorporated; Daniel
Tucker, Anthony A Co.; Barney Nieman, Carl Marks A Co. Inc.
Securities
:
LEE HIGGINSON
We invite inquiries on the
CORPORATION
Allison Steel Manufacturing Co.
Members! New York, Boston and
Brown & Sharpe
Midwest Stock Exchanges
Bryant Chucking Grinder Co.
following
Avon Products, Inc.
American Stock Exchange (associate)
Cameo
Manufacturing Company
Incorporated
m
I
Consolidated Rendering Company
Investment Banking Service Since
1848
,
Craig Systems, Inc.
Crompton & Knowles Corp.
The Diners' Club Inc.
The Duriron
Members New York Stock
NEW YORK 5
Exchange
Erie Forge
Hudson
40
WALL
Company, Inc.
& Steel Corporation
Pulp & Paper Corp.
STREET
Ionics, Incorporated
HAnover 2-2700
Teletype NY 1-917
Telephone WHitehall 3-7600
Corporate Teletype: NY 1-865
Municipal Teletype: NY 1-1691
•
We have direct wires
to
FEDERAL STREET
Chicago
Baltimore
Cincinnati
Beaumont
Cleveland
Beverly Hills
Boston
Denver
Detroit
Dallas
Company
Mallory & Co., Inc.
The Meadow Brook National Bank
Moore Drop
Forging Company
National Aluminate
Liberty 2-5000
Asheville
The Kerite
P. R.
50
the following cities:
Jones & Lamson Machine Company
Keystone Portland Cement Company
BOSTON 7
Teletype BS 452
National Blankbook
Corporation
Company
River Brand Rice Mills, Inc.
Rock of Ages Corporation
*ShuIton, Inc.
Fullerton
Joplin
G. Mullin,
Galveston
Kansas City
Grand Rapids
Los Angeles
Houston
Nashville
CHICAGO 4
Indianapolis
New Orleans
231
S. LA SALLE STREET
FRanklin 2-4500
Philadelphia
Pittsburgh
St. Louis
St. Paul
Seattle
Utica
Teletype CG 175
St. Croix Paper
Tracerlab, Inc.
United States Potash Company
Williams and
*
.
'
Company
Speer Carbon Company
Company, Inc.
Prospectus Available
Volume 183
Number 5532
.;
.
The Commercial and Financial Chronicle
Complete Brokerage Service
PRIMARY MARKETS MAINTAINED
by-
our
UNLISTED DEPARTMENT
in
BANK, INSURANCE
and
SELECTED INDUSTRIAL
DIRECT
PRIVATE
MONTREAL
DIRECT
James
I.
Brennan, J. G.
Joseph
McManus A
AND
IN
Los Angeles
Boston
Hartford
WIRES
Philadelphia
Worcester
leading
1
Wall
Nem
York
Domestic
Stock
and
Reilly,
Reilly, Hoffman
San Francisco
New Haven
Meriden
1865
Exchange
Canadian
other
and
Exchanges
Street
New
DIgby
Tcm
CITIES
Chicago
Providence
established
Members
TO
FOLLOWING
&
Company, Incorporated; Irving Stein, Capper A Co.; Mike
Growney,
Co.; Harry Peiser, Ira Haupt A Co.;
Joseph Mathes, Ira Haupt A Co.
STOCKS
TO
TORONTO
PRIVATE
CORRESPONDENTS
White
WIRES
York
5
4-2525
&
Sweeney, Inc.; Phil:p Hoffman, Reilly, Hoffman <£
Sweeney,
Inc.;
Charles O'Brisn Murphy
3rd, Pearson, Murphy A Co., Inc.; Joseph J.
Craig, Good body A Co.
JOSEPH McMANUS* CO.
39 BROADWAY
NEW YORK 6, N. Y.
MEM&m
Joseph C. Nugent, Mabon A Co.;
Bill Russell,
Pete
Mabon
Brochu, Allen
A
A
Co.;
Jack
Gessner, Mabon A Co.;
NEW
Company
STOCK EXCHANGE
AMERICAN STOCK £XCKAN<J€
MIDWEST $T0CK EXCKANOf
PORTLANO
BOSTON
MINMCAPOilS
.DETROIT
CHICAGO
CLEVELAND
DENVER
PITTSBURGH
SAN FRANCISCO
KANSAS CITY
■DURHAM^
LOS ANGELES I
ALBUQUERQUE
"NASHVILLE
rFAYETTEVILLE;
sconsoAic
Carl M.
Loeb, Rhoades
Members New Yor\ StocJ{ Exchange and other
42 WALL STREET
& Co.
.PHOENIX1
TUCSON
| DALLAS"
OOESSAVfORT
leading Exchanges
WORTH
1
NEW ORLEANS
HOUSTON
NEW YORK 5, N. Y.
TX1!*
VICTORIA
THE
FOR
PRIVATE
NATIONAL
COVERAGE
OF
WIRE
LISTED
AND
SYSTEM
UNLISTED
MARKETS
The Commercial and Financial
Chronicle
.
.
.
Thursday, May 10, 1956
Dealers and Brokers in
Railroad, Public Utility & Industrial
Bonds & Stocks
Trading Dept.
Over-the-Counter
D. Howard
Brown
i
MacKain
Frank
Ingalls & Snyder
Members New York Stock Exchange
Members
100
American
Stock Exchange
NEW YORK 5, N. Y.
BROADWAY
COrtlandt
7-6800
Bell
—
Listed
Teletype
System
NY
Adrian
Frankel, Ungerleider & Company; Bob F. Rice, Coburn & Middlebrook, Incorporated, New York;
Robert
1-1459
Topol, Greene and Company; Stan Dawson-Smith, Cruttenden
M.
& Co., New York
Unlisted
&
Securities
Michael J. Heaney & Co.
Members American Stock Exchange
120
BROADWAY
NEW YORK 5, N. Y.
•
Telephone WOrth 4-4176
Ed
Larkin,
Troster, Singer & Co.; Tom Larkin, Goodbody & Co.; Harold
Charles
Murphy, Gregory & Sons;
Lye, Filor, Bullard & Smythe
Underwriters and Distributors
Industrial, Public Utility and
Railroad Securities
Municipal Bonds
Bank and Insurance Stocks
Unlisted Securities
Laird, Bissell & Meeds
MEMBERS
YORK
NEW
AND
120 BROADWAY,
AMERICAN
Telephone BArclay 7-3500
DU
PONT
PHILADELPHIA NATIONAL BANK
BUILDING
WHITNEY
NEW HAVEN,
PHILADELPHIA,
AVE.
10
CONN.
EXCHANGES
Bell Teletype NY 1-124849
WILMINGTON, DEL.
44
STOCK
NEW YORK 5, N. Y.
Waldmannstrasse
ZURICH,
160
Sal Rappa,
F. S.
Moseley & Co.; Leslie Barbier, G. A. Saxton & Co. Inc.; Irving L. Feltman,
Mitchell
&
Company;
Nat
Krumholz,
Siegel
& Co.
BUILDING
PA.
W.
BROADWAY
SALEM, N. J.
SWITZERLAND
For financial institutions
FOREIGN
Adams
Peck
&
SECURITIES
Members New York Stock
and American Stock
Exchange
Exchange
a
DEALERS IN
PRIMARY
railroad securities
Guaranteed
Leased Line
Bonds
Preferred
TRADING MARKETS
'
l
Common
Carl Marks & Co. Inc.
and
Unlisted Investment Stocks
FOREIGN
SECURITIES
SPECIALISTS
New York 5, N. Y.
120 Broadway
50
BROAD STREET
•
NEW
YORK 4, N.
Y.
Telephone REctor 24949
Teletype NY 1-724
Private wire to
Philadelphia
TELEPHONE HANOVER 2-0050
TELETYPE NY 1-971
Volume 183
Number 5532
.
.
.
The Commercial and Financial Chronicle
Your
RED
CROSS
must carry on I
Lester
Frenkel, Gersten & Frenkel; John Kugel, Kugel, Stone & Co., Inc.; Dick McKee,
Express Company; Bill Cullen, Harriman, Ripley & Co., Incorporated
American
INDUSTRIAL, PUBLIC UTILITY,
RAILROAD
MUNICIPAL
and
SECURITIES
John Keller,
Chemical Corn Exchange Bank; Frank San Filippo, Gersten & Frenkel; A1 Grey,
Cyrus
J.
Lawrence
&
Sons;
Lou
Smith,
Chemical
Corn
Exchange
Laurence M. Marks & Co.
Bank
MEMBERS
AMERICAN
48
Underwriter
Reinholdt
&
& Leach, Birmingham, Ala.; Ricky Goodman, Shields & Company;
Gardner,
New York;
Sam
Milt,
New
York Hanseatic
STOCK
NEW YORK 5, N. Y.
TELETYPE N. Y. 1-344
2-9500
•
EXCHANGE
EXCHANGE (ASSOCIATE)
WALL STREET,
TELEPHONE HANOVER
Alonzo Lee, Stern, Agee
YORK
NEW
STOCK
Distributor
•
Dealer
Bob Frank,
Corporation
Securities of the United States
Government and its
Instrumentalities
State, Municipal j\nd Revenue
Securities
Bonds, Preferred and Common Stocks
of
Industrial, Public Utility and
Railroad Corporations
Bank and Insurance
Bankers'
Company Stocks
Acceptances
Securities of the International Bank for
Reconstruction and
Wertheim
JKCcmbers
NEW
&
Co.
Canadian Bonds
York Stock Exchange.
YORK
Development
Foreign Dollar Bonds
5
The
FIRST BOSTON
CORPORATION
New York
Philadelphia
Boston
Pittsburgh
Cleveland
Chicago
San Francisco
The Commercial and Financial Chronicle
10
.,.
Thursday, May 10,1956
Underwriters, Distributors and Dealers in
Corporate and Municipal Securities
Net Markets to Institutions and
Dealers in
Corporate Stocks and Bonds and Foreign Issues
&
H I R SC H
11 embers New York Stock
CO.
Exchange and Other Exchanges
Keyser Building, Baltimore 2
Eye St., N.W., Washington 6
Tel:
NAtional
LONDON, ENGLAND
—
Tel:
8-2545
Lexington 9-7861
Representatives' Offices: GENEVA
Direct Wire Service
Lynch, Pierce, Fennet A Beane; J. B. Maguire, J. B. Maguire A Co., Inc., Boston;
Guy R. Hogarth, Edward M. Bradley A Co., Inc., New Haven; Jim Cleaver, Goodbody A Co.
Teletype: N.Y. 1-210
Telephone: HAnover 2-0600
1636
John Mayer, Merrill
STREET, NEW YORK 4, N. Y.
25 BROAD
—
New
•
AMSTERDAM
York, Washington and Baltimore
Mclaughun,Cryah«co.
,
" i
MEMBERS
NEW
YORK STOCK EXCHANGE
AMERICAN STOCK
EXCHANGE
(ASSOC.)
COMMODITY EXCHANGE, INC.
Jack
BROKERAGE
BOND
Barker, Lee Higginson Corporation; Arthur Sachtleben, American Securities Corporation; Irvin
Hood, Jr., Lee Higginson Corporation; John D. Ohlandt, New York hanseatic Corporation;
Dick Shipman, Leslie Securities Corporation
SERVICE
•
CORPORATION INVESTMENT
ADVISORY SERVICE
NEW YORK 5
ONE WALL STREET
Telephone HAnover 2-1355
For
Banks—Brokers—Dealers
Edward Moynahan, Eastern Securities Inc.; Thomas
Stamrowe Trading Company, Inc.; J. E.
C. Darrie, P. W. Brooks A Co., Inc.; Joe Gassoun,
Shields, Shelley, Roberts A Co., Denver
Specialists in all
(|
'
•
•
■
BANK and INSURANCE
STOCKS
Edwin L. Tatro
Company
50 BROADWAY, NEW YORK 4, N. Y.
Telephone: DIgby 4-2420
Teletype: NY 1-3430
Direct
Telephone
BALTIMORE—BOSTON—HARTFORD: Enterprise 7846
Henry
L.
Harris, Goldman, Sachs A Co.; Chester Harris, Baxter, Williams A Co.; Steve Giecwa,
Lynch, Pierce, Fennir A Beane; Charles R. Clausen, Hoit, Rose A Company;
John Miles, L. D. Sherman A Co., Syracuse
Merrill
Private Wires
♦
LISTED
&
UNLISTED
ATLANTA
BEVERLY
HILLS
BOSTON
BUFFALO
Members
CHICAGO
SECURITIES
/
DETROIT
HARTFORD
LOS
New York Stock
Exchange
American Stock Exchange
ANGELES
PITTSBURGH
Chicago Board of Trade
PROVIDENCE
SAN FRANCISCO
ST.
LOUIS
WHEELING
Teletype NY 1-750
Telephone WOrth 4-4300
YOUNGSTOWN
120
BROADWAY, NEW YORK 5, N. Y.
<8
Volume
183
Number 5532
.
.
.
The Commercial and Financial Chronicle
11
Specialists in
Foreign Securities
Charles
Andrews, J. K. Rice, Jr. & Co.; A1 Gabriel, E. F. Hut ton & Company; Walter J.
Laughran,
J. K. Rice, Jr. & Co.; J. K. Rice 3rd, J. K.
Rice, Jr. £ Co.
tsdfondwld
and>SP. &Meic/i/icedek
due.
INVESTMENT
Associate
Members
30 Broad
SECURITIES
American
Stock
Exchange
Street, New York 4, N. Y.
Telephone
WHitehall
Lewis
Teletype
3-9200
NY
1-515
Glucksman, L. F. Rothschild & Co.; Jack Fant, Penington, Colhet & Co., Philadelphia;
Co.; Donald J. Friedman, L. F. Rothschild & Co.
Richard Baer, L. F. Rothschild &
UNDERWRITERS, BROKERS
and DEALERS
distributing
CORPORATE and MUNICIPAL SECURITIES
since
1886
W. E. HUTTON & CO.
Members New York Stock
and other
Exchange
leading exchanges
NEW YORK
Kerrig<&e, Thomson & McKinnon; Bob Payne, Bache & Co.;
Shields, Shelley, Roberts & Co., Denver
CINCINNATI
Irving Stein, Capper & Co.; Ben
J.
E.
Philadelphia
Burlington, Vt.
Baltimore
Columbus, O.
Hartford, Conn.
Lewiston, Me.
Biddeford, Me.
qAllen
Boston
Dayton, O.
Easton, Pa.
Lexington, Ky.
Portland, Me.
Founded 1851
&
Company
Established 1922
UNDERWRITERS
-
DISTRIBUTORS
-
DEALERS
NEW YORK
Industrial, Public Utility and Railroad Securities
State and
Municipal Bonds
ESTABROOK
&
CO.
MEMBERS
NEW
YORK
Associate
40 Wall
AND
BOSTON
Member
St., NEW YORK 5
HARTFORD
•
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American
-
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Stock
EXCHANGES
Exchange
15 State St., BOSTON 9, MASS.
•
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The Commercial and financial Chronicle
12
.
.
.
Thursday, May 10, 1956
Frank Gorman,
delphia;
H. G. Kuch and Company, Philadelphia; Joe McNamee, Hopper, Soliday & Co., Phila¬
Everett W. Snyder, £. W. Snyder and Co., Syracuse; Norris Rosenbaum, Englander & Co.
Emmett
K. Atherton, Sutro Bros. & Co.; L. Raymond Benell, Harry P.
Schaub, Inc., Newark, N. J.; Austin Patterson, First Boston Corporation
OilsMining
,
-
Industrials
As traders,
in
over
we
maintain markets,
200 such issues.
J. F. Reilly & Co., Inc.
Herman
Frankel, Singer, Beane & Mackie, Inc.;
Wm
42
V.
Frankel
&
Wm. V. Frankel,
Co., Incorporated
DIgby 4-4970
BROADWAY, NEW YORK 4
Teletype: NY 1-4643
DIRECT
Philadelphia
.
V
WIRES
Washington, D. C.
'
Denver
Salt Lake City
1
(
1
Dealers In
Unlisted
Securities
George
Sozek,
Mackie,
Public Utilities
★
★
★
—
A.
Inc.;
G.
Edwards
Fred
&
Sons;
Underwood,
Mortie
Boenning
Weiss,
&
Co.,
Singer,
Beane
Philadelphia
Industrials
★
WM Y. FRANKEL &
CO.
INCORPORATED
39 BROADWAY
WHitehall 3-3960
'
NEW YORK 6
Teletype NY 1-4040-4041
Private Wire, to: PHILADELPHIA and SALT LAKE CITY
Jack
Thompson, Gerald Hornung, and
Wertheim
&
William
Co.
Rasmussen, all
of
&
Volume 183
Number 5532
.
.
.
The Commercial and Financial Chronicle
13
Harry Gumm, G. A. Saxton & Co. Inc.; Bill McCullen, Hendricks & Eastwood, Inc., Philadelphia;
Peter Burnett,
Minot, Kendall & Co., Inc., Boston; Jim Mundy, Stroud & Company, Incorporated,
Philadelphia, George Cunningham, George W. Cunningham <& Co., Westfield, N. J.
Edwin
Markham, Wertheim & Co.; Eugene Lynn, Wertheim &
Co.;
Frank Schoetz, Wertheim & Co.
We maintain
ACTIVE TRADING MARKETS
in
an
extensive list of
UNLISTED SECURITIES
Eastman, Dillon
Guy De Simone, Security Adjustment Corporation, Brooklyn, N. Y.;
Joseph
C. Galdi, Galdi Securities Corp.; Joseph P.
Carucci, J. K. Rice, Jr. & Co.
MEMBER NEW YORK STOCK
BROAD STREET, NEW YORK 5, N. y.
15
Tel.
Co.
&
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BOwling Green 9-3100
Direct Private Wires
to
our
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correspondents in Chicago, Hartford, Los Angeles,
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Greetings and Best Wishes from Philadelphia
TRADING DEPARTMENT PERSONNEL
R. Victor
Mosley,
vice president
R. Victor Mosley
Equipment Trust Certificates
Frank J. Laird
Robert
Fra^k J. Laird
A.
Carter, Auburn, N. Y.;
Bill Boggs,
Sidney Jacobs Co.
Railroad Bonds, Guaranteed
Allan b. Foard, Jr.
Public Utility
James G. Mundy
■Industrial
Raymond A. Morris, Jr.
Robert
Leased Lines Stocks
and
Edgar A. Christian
Bonds 8c Stocks
Bank Stocks
N. Greene
Sales Order
Department
Russell M. Ergood, Jr.
vice
president
Michael J.
Rudolph
Alexander
B.
Municipal Department
Brock
J. Richard Hoffman
L. Wister Randolph
Institutional Department
Robert J. Campbell
Franklin
Edward
vice
Felix E.
M. Seeley
F.
Statistical Department
Hirsch
president
Maguire
Field Representative
STROUD & COMPANY
INCOR PORATED
123 South Broad Street
PHILADELPHIA 9
Loeb, Rhoades & Co., President of Security
Traders Association of New York, addressing dinner meeting of over
1,700 members and guests
Edward
J.
Kelly,
Carl
M.
new
york
pittsburgh
allentown
lancaster
scranton
The Commercial and
Financial Chronicle
.
.
.
Thursday, May 10,
1956
14
Savard & Hart inc.
Members
of The Investment Dealers'
Association
St. West, Montreal
Notre Dame
230
SHERBROOKE
of Canada
TROIS-RIVIERES
—
—
QUEBEC
—
SOREL
Savard & Hart
Members: Montreal Stock Exchange
Frank
Canadian Stock Exchange
Toronto Stock
Orders
executed
rates
or
on
in
New
QUEBEC
-
CHICOUTIMI
-
York City, HAnover 2-0575
Teletype NY 1-2339
Telephone MUrray Hill 2-4545
65 West 44th Street
MONTREAL
-
TROIS-RIVIERES
ST. JOHNS, P. Q.
THETFORD MINES
-
members:
1i!
-
SHERBROOKE
DRUMMONDVILLE
-
MIAMI BEACH, FLA.
ldland Securities
I
commission
York in United States Funds.
40 Exchange Place, New
Bell System
corpn. limited
The Investment Dealers' Association of Canada
Maurice
Hart,
New Yorh Hanseatic Corporation; John Flynn, E. W. Clark
Christian, Stroud A Company, Incorporated, Philadelphia; Ed
Carl M. Loeb, Rhoades A Co.
Eddie
Canadian Government, Municipal
and
John O'Mara,
(guest);
Exchange
all Canadian Exchanges at regular
traded
Walters, Cosgrove, Miller A Whitehead; Reid Rankin, R. M. Horner A Co.;
Goodbody A Co.; Jim Siepser, Shashan A Co.; John C. Hudson, Jr., Philadelphia
'
Thomas J. Love, George E. Snyder A Co., Philadelphia
A Co., Philadelphia;
Whiting,
Corporation Securities
r
The Midland Company
f
1
1
1
member:
u^n,
The Toronto Stock Exchange
Stock orders executed
on
all Exchanges
Toronto, Ontario: 50 King Street West
London, Ontario: Huron & Erie Building
Sault Ste. Marie, Ontario: 110
March Street
Montreal, Quebec: 215 St. James Street West
St. Thomas, Ontario: 354 Talbot
Street
Private Wire to
Eastman, Dillon & Co., New York
Libby Palermo, Greene and Company; Bob Wien, M. S.
Greene and Company; Mel Wien, M. S.
Wien A Co., Jersey City, N. J.; Julius Golden,
Wien A Co., Jersey City, N. J.
Canadian
Investment Securities
A. E. Ames & Co.
Limited
UNDERWRITERS AND DISTRIBUTORS
A. E. Ames & Co.
Members Toronto and Montreal Stock Exchanges
OFFICES IN 14 CITIES IN CANADA AND ENGLAND
A. E. Ames & Co.
Incorporated
New York
Boston
BUSINESS ESTABLISHED 1889
H.
G.
Jarvis, A.
E. Ames A Co., Incorporated; Ace Hudkins, Bank of Montreal; H. S. Hutchison,
A Co., Incorporated; Joseph F. Eilert, Harriman Ripley A Co., Incorporated
A. E. Ames
Volume 183
Number 5532
.
.
.
The Commercial and Financial
Chronicle
15
Sound Canadian Investments
•
'.
'
■
United States investors
'
..
1
.
•
buy through us many high
quality Canadian securities which make very sound
investments. Some of these also have attractive
growth
possibilities.
Our
complete investment service
includes:
V
Hank
Josephthal
A Research
Department with up-to-date informa¬
major Canadian companies.
on
&
Co.; John Hudson, Thayer, Baker &
Co., Philadelphia; Henry Oetjen,
McGinnis & Company; Charles
Zingraf, Laurence M. Marks & Co.;
Shelby Cullom Davis,
Shelby Cullom Davis & Co.
United States investors
to
i
tion
Serlen,
can
A
V
Correspondence Department
by mail.
set
up
deal
to
in securities
V
Private
teletype
Canada and
V
service
to
offices
our
across
New York.
to
Membership in The Investment Dealers* Associa¬
tion of Canada, and
through our affiliate, member¬
ship in leading Stock Exchanges in Canada.
Inquiries from investors
invited.
are
McLeod,Yoiihg,Weir* Company
LIMITED
Investment Dealers Since 1921
50 KING STREET WEST, TORONTO, CANADA
Montreal
Ottawa
Calgary
Ed
Winnipeg
Kitchener
London
Quebec
Aaron, E. L. Aaron & Co.; John R. Stein, William V. Frankel & Co.
Incorporated; Irwin Guttag,
Kaufmann, Alserg & Co.; George Roberts, Shelley, Roberts
Co., Denver; Sam Gilman,
Cohen, Simonson & Co.; John J. Judge, /. J. Judge & Co., Des Moines.
IP
Vancouver
New York
ft
Government
■
Hamilton
Sherbrooke
of Canada
:•
Provincial
—
Municipal
—
Corporate
Bonds and Debentures
■
■
i-
"
'
-
•
External and Internal Issues
BOUGHT
—
SOLD
—
QUOTED
Stock Orders Executed
on
any Canadian Exchange
Regular Commission Rates
at
Burns Bros. &
Denton, Inc.
37 Wall Street, New York 5
Tel.: DIgby 4-3870
TWX: NY 1-1467
King Waldron, De Haven & Townsend, Crouter & Bodine; Howard
Browne, Tweedy, Browne & Reilly;
Bert Seligman,
Straus, Blosser & McDowell; Elmer Myers, B. W. Pizzini & Co.,
Inc.; Harry L. Arnold,
Goldman, Sachs <£ Co.
Established 1928
We
Offer
a
Gairdner $
COMPREHENSIVE INVESTMENT
Gompaittj Inc.
AND
.
60 Wall
DEALER SERVICE
Street, New York 5, N. Y.
WHitehall 4-7380
in
ALL CLASSES OF BONDS AND STOCKS
including
Support
Inquiries
Dealers
PUBLIC UTILITY—RAILROAD—INDUSTRIAL
FOREIGN ISSUES
We Are
Particularly Adapted
Service Firm*
With Retail Distribution
to
regarding
Securities
S
A*)
are
and
Canadian
invited
from
Institutions
Affiliate:
Gairdner &
Company Limited
Member:
Your
Inquiries Solicited
p. f. fox & co.
120
BROADWAY, NEW YORK 5, N. Y.
Telephone
Teletypes
REctor 2-7760
NY 1-944 & NY 1-945
The Investment Dealers' Association
of Canada
The Toronto Stock Exchange
Montreal Stock Exchange
Winnipeg Stock Exchange
Vancouver Stock Exchange
Canadian Stock Exchange
Toronto
Vancouver
Montreal
Hamilton
Kingston
Kitchener
Winnipeg
Quebec
London
New York
I
Private wire system.
1
Calgary
Edmonton
The Commercial and
Financial Chronicle
.
.
16
;
Thursday, May 10, 1956
Pflugfelder & Rust
Members
1
Stock Exchange
York
New
the
of
'
'
BROADWAY, NEW YORK 6, N. Y.
61
Telephone
Green
BOwling
9-4900
/
Craig Dick, Lewis C. Dick Co., Philadelphia; Joe Cummings, Brooke & Co., Philadelphia; Sam
Yarnall, Biddle & Co., Philadelphia; Harry Green, Jr., Merrill Lynch, Pierce, Fenner &
Philadelphia; Bill Radetzky, New York Hanseatic Corporation, Philadelphia
We
Kennedy,
Beane,
offer to buy:
THE ROYAL BANK OF CANADA
Rights
Greenshields & Co (N.Y.)
Inc
64 Wall Street
Teletype: NY 1-3708
Telephone: WHitehall 3-9525
Charles
A.
Bodie, Stein Bros. & Boyte, Baltimore; Harry D. Casper, John J. O'Kane, Jr. &
W. E. Hutton & Co., Boston; Henry F. Willems, Hornblower & Weeks;
Herman J. Keller, Keller Brothers Securities Co.,
Boston
Co.;
Gilbert M. Lothrop,
NESBITT, THOMSON AND COMPANY, INC.
25 Broad
140 Federal
Street, New York City 4
Street, Boston 10
Telephone HAncock 6-3355
Telephone HAnover 2-8875
Teletype NY 1-4358
Dealers in
Canadian Government,
Public Utility &
Orders
Stock
executed
Exchanges
or
Municipal
Industrial Issues
Canadian
all
on
at net New
Affiliated
York prices
with
NESBITT, THOMSON AND COMPANY,
Limited
AND
NESBITT, THOMSON & CO.
MEMBERS
MONTREAL
MONTREAL
KITCHENER
EXCHANGE
STOCK
EXCHANGE
CANADIAN
STOCK
EXCHANGE
QUEBEC
TORONTO
WINNIPEG
LETHBRIDGE
STOCK
TORONTO
HAMILTON
OTTAWA
REGINA
SASKATOON
VICTORIA
VANCOUVER
FREDERICTON
LONDON. ONT.
CALGARY
EDMONTON
SAINT JOHN, N. B.
MONCTON
Arnold J. Wechsler, Ogden,
McLaughlin, Cryan & Co.; Gordon
E. Quincey & Co.;
Wechsler & Co.; John F. McLaughlin,
Simpson, Standard Securities Ltd., Toronto; Frank A. Pavis, Charles
X.
Charles D. Ogden, Ogden, Wechsler & Co.
Wood, Gundy & Co., Inc.
14 Wall
Over A Quarter
Street, New York 5
105 West Adams
1930
Street, Chicago 3
Direct wire connections between New York, Toronto and Montreal
and
through
our
Canadian affiliate
Stock orders executed
to all
all Exchanges in Canada.
affiliated with
1956
Specialists in
principal Canadian cities
OVER THE
on
Century
COUNTER SECURITIES
Underwriters and Distributors
%
Wood, Gundy & Company
BLOCKS OF STOCKS
Limited
and
Wood, Gundy & Company
Members of
The Toronto Stock
Exchange
Montreal Stock Exchange
Canadian Stock
ESTABLISHED
37
TORONTO
QUEBEC
HALIFAX
MONTREAL
SAINT JOHN
KITCHENER
WINNIPEG
OTTAWA
REGINA
1930
Exchange
VANCOUVER
HAMILTON
EDMONTON
LONDON, ENG.
LONDON,
CALGARY
ONT.
VICTORIA
Wall
St., New York
of
Volume
John
de
Fred
183
Number 5532
.
.
.
The Commercial and Financial Chronicle
17
Maye, Sutro Bros. & Co.; J. Henry Davis, Sutro Bros. & Co.; Bill Reuter. Mabon
Tom Greenberg, C. E.
Unterbzrg, Towbin & Co.; Thomas I. Unterberg, Guest
Harscn, F. L. Harson & Co., Providence, R. I.;
H. Hentz &
Bill Wittich, Grimm
Co.; Roy Feltman, Goodbody & Co.
&
Co.;
Charles
&
Co.;
Weil,
STOCK 6- BOND
BROKERAGE SERVICE
for Banks, Brokers and Dealers
Richard Shuss, Charles King & Co.; George Baker. Dreyfus & Co.: Len
Ted Londinsky, Charles King & Co.
Berson, Steiner, Rouse & Co.;
Hardy & Co.
Members New
Members
York
American
Stock
Exchange
Stock
Exchange
30 Broad St.
New York 4
Telephone DIgby 4-7800
Teletype NY 1-733
,
MAIN ST. & MEETINGHOUSE LANE
At Tour Service
SOUTHAMPTON, L. I., N. Y.
...
Singer, Bean & Mackie,
40
'
Exchange Place
inc.
New York 5
NY 1-1825 &
HAnover 2-0270
1-4844
Prst
of Michigan
Corporation
.1
'
.
*
I
Underwriters and Distributors
FIRM TRADING MARKETS
STATE,
IN OVER 350 STOCKS
i
MUNICIPAL
and
CORPORATE
.1
SECURITIES
Direct Wires to
i
Chicago
Philadelphia
Los Angeles
Burton J. Vincent & Co.
Reynolds & Co.
Fewel & Co.
Members
NEW YORK
Detroit
and
Midwest
Exchanges
DETROIT
Columbus—Battle
Grand
Stock
CHICAGO
Creek—Flint
Rapids—Lansing—-Port Huron—Saginaw
Financial Chronicle
The Commercial and
;.
.
Thursday, May 10, 1956
18
Mitchell & Company
Philadelphia-Baltimore Stock Exchange
Members
120 BROADWAY
NEW YORK 5, N. Y.
•
Tel. WOrth 4-3113
Bell Teletype N. Y. 1-1227
'
IN ACTIVES
Jim
Kelly,
Shearson,
Hammill
Montgomery,
Scott
& Co.; Willie Schmidt, Laird, Bissell & Meeds; Happy
& Co.; Bernie Eberwein, Alex. Brown & Sons, Baltimore
Castoria,
PRIMARY MARKETS
Complete Trading Facilities and Experience
Brokerage Service in all
For
UNLISTED SECURITIES
DEALERS
for BANKS —BROKERS and
NEW YORK 6,
BROADWAY
39
CO.
&
SIEGEL
N. Y.
Teletype N.Y. 1-1942
DIgby 4-2370
R.
John
Stein,
Wm
V. Frankel
&
Over
a
Half Century of Efficient and
Co., Incorporated; Paul Sperling, Ernst &
Murray L. Barysh, Ernst & Co.
Co.; Bernard Sperling,
& Co.;
Ernst
Economical Service
AS TRANSFER AGENT
Y. AND JERSEY CITY, N. J.
NEW YORK, N.
We
afford
economies
and
other
advantages
to
underwriters, distributors, corporations
and
Write
and
for
State
our
their stockholders.
free booklet setting forth the Current Federal
Stock
Original Issue and Transfer
Tax Rates.
C.
REGISTRAR AND TRANSFER COMPANY
50 CHURCH STREET
New York 7,
Established
15 EXCHANGE PLACE
issa
Jersey City 2, N. J.
N. Y.
D.
Runyan, Trust Company of North America; Samuel E. Magid, Hill, Thompson & Co., Inc.;
Harry Reed, Reed & Sloan Company, Dallas; "Duke" Hunter, Wellington Hunter Associates,
Jersey City, N. J.
HEnderson 4-8525
BEekman 3-2170
time insurance—A few large companies
have
never
advertised. A few, but not many.
Most successful firms
ORIGINATORS
-
UNDERWRITERS
—
DISTRIBUTORS
tising
programs.
The
cessful the firm, the
OF
adopt consistent adver¬
and
younger
more
it
seems
The conclusion is clear: you
NEW JERSEY MUNICIPAL
adverdse
But all
AND
will
to
to
more suc¬
advertise.
don't have to
be successful.
things being equal, good advertising
bring
success
faster. We call it "Time
Insurance"—and that's what we've been sell¬
AUTHORITY REVENUE 0BUGATI0NS
ing
our
clients for
over
80
years.
AF-GL
Boland, Saffin & Co
Established 1920
35
WALL
ST.
NEW YORK 5, N. Y.
Bell System
Albert Frank-Guenther Law, Inc.
Advertising
TELEPHONE
WHITEHALL 3-3414
Teletype—NY 1-535
Public-Financial Relations
•
131 Cedar
PHILADELPHIA
•
BOSTON
•
Street, New York 6, N. Y.
WASHINGTON
•
CHICAGO
•
SAN FRANCISCO
Volume
183
Number 5532
.
.
.
The Commercial and Financial Chronicle
George W. Cunningham & Co.
BROAD STREET
EAST
225
WESTFIELD, NEW JERSEY
Telephone Westfield 2-6322
TWX WSFD
A1
NJ
126
HaiS> Reynolds & Co.; Don Hall, Hoit, Rose <ft
Company; Sam Cadwell, Ira Haupt & Co.;
Arthur O.
Samuelson, George C. Lane & Co., Inc., New Haven, Conn.
/
A. L. STAMM & CO.
120 Broadway, New York 5, N. Y,
MEMBERS
New York Stock
American
York
New
Exchange
Stock
Exchange
Cotton
Exchange
Chicago Board of Trade
Commodity Exchange, Inc.
New York Produce
York
New
York
New
New
York
Exchange
Mercantile
Coffee
&
Exchange
Sugar Exchange, Inc.
Cocoa
Exchange, Inc.
Chicago Mercantile Exchange
Tel.:
Speed Hughes, Clayton Securities Corporation, Bostrn; Louis E.
Goldstein, Trust Company of
America; Paul B. Hanrahan, Hanrahan & Co., Worcester, Mass.; Paul R. Rowen
Cables "STAMAL"
REctor 2-6800
North
Cosgrove, Miller
FORMERLY
ESTABLISHED
44
WALL
NEW
Whitehead
&
NEERGAARD,
MILLER & CO.
1924
STREET,
YORK
5,
N.
'
Y.
MEMBERS
NEW YORK STOCK
EXCHANGE
BOWLING
INVESTMENT ADVISERS
GREEN
9-1850
BINGHAMTON
CLEVELAND
DEPOSIT, N.Y.
FT. LAUDERDALE
HARRISBURG
Jack
Murphy, Hornblower & Weeks, Philadelphia; Jack Weller, Goldman, Sachs & Co.,
Philadelphia;
Joe Kelly, Starkweather & Co.; Howard King, Hornblower <St
Weeks; Herb Ferrari,
Hornblower
&
PRIVATE
WIRE
TO
CLEVELAND
OFFICE
Weeks, Boston
JIM
SEBOLD
JOHN
FRANK
MANN
SKIP
WALTERS
CLEMENCE
to
MONEY
GARVIN, BANTEL & CO.
MEMBERS NEW
MEMBERS
YORK STOCK EXCHANGE
AMERICAN
STOCK
EXCHANGE
I
COLLATERAL
SERVICING BANKS,
prompt and efficient service
SUTRO BROS. & CO.
Members New York Stock Exchange and other Principal
Exchanges
120
LOANS
BROKERS & DEALERS
BROADWAY
NEW YORK
TELEPHONE
BARCLAY
7-6440
5
TELETYPE
NY 1-17
The Commercial
and Financial Chronicle
.-.
.
Thursday, May 10, 1956
20
Underwriters-Distributors-Dealers
Investment Securities
•
Brokers in
Securities and Commodities
Rights—Scrip—Warrants
*
McDonnell & fa
Established
Henry
Ralph
B. Warner, Arthur L.
Iriarte, Charles King &
Wright & Co., Inc., Philadelphia; Leonard Dittell, Dreyfus & Co.;
Co.; Lloyd B. Brown, Arthur L. Wright & Co., Inc., Fuiiadelphia
1905
Members
New York Stock Exchange
120 Broadway,
American Stock Exchange
—
New York 5, N. Y.
Telephone: REctor 2-7800
Detroit
Asbury Park
•
OUR
lOOlli
YEAR
H.HENTZ & CO.
Members New
York Stock Exchange and
leading stock
other
and commodity exchanges
Hal
New York
CHICAGO
PITTSBURGH
DETROIT
4, New York
MIAMI BEACH
Murphy,
Albert
HANOVER SQUARE
Commercial
&
Financial
Chronicle; Joseph F. Jordan, J. F. Jordan & Co., Boston;
Thomas C. Brown, 3rd, Charles King & Co.
Elman, J. F. Jordan & Co., Boston;
i
CORAL GABLES
HOLLYWOOD, FLA.
'
GENEVA, SWITZERLAND
BEVERLY HILLS, CAL.
BUENOS AIRES,
ARGENTINA
Underwriters and
of
AMSTERDAM, HOLLAND
Distributors
Corporate Securities
./
\.
Underwriters
Distributors
Ed Peet, Burns Bros. & Denton,
Burns Bros. & Denton, Ltd.,
Inc.; W. H. A. Basserman, Bank
Toronto; Edward f. Mulqueen,
of Montreal, New York; Joseph Pope,
Mills, Spence & Co., Inc., New York
ARTHUR M. KRENSKY & CO.
Members
New
York Stock Exchange and other Principal
141 West Jackson Blvd.
Exchanges
Chicago 4, Illinois
HArrison 7-7727
39
Broadway, New York City, N. Y.
Hotel Clark
McKay Tower
Grand Rapids,
Bassett Tower
Bldg.
Michigan
Princeton, Illinois
821 Fifteenth St., N. W.
Lincoln Bank Tower Bldg.
Washington, D. C.
Fort Wayne, Indiana
El Paso, Texas
Complete Unlisted Trading Facilities
Municipal Bonds
Commodities
Cabbie, Burns Bros. <ft Denton Inc.; Kurt Helstern, Bank of Nova Scotia,
Pollard, Burns Bros. & Denton Inc.; Tom McAuIiffe, Burns Bros. &
Don Robitaille, Burns Bros. & Denton, Inc.
VL
New York City; Ted
Denton Inc.;
.
HILL, THOMPSON &, CO., Inc.
Underwriters and Distributors
i
'
—
Buyers of Blocks of
Stock
■
1
Volume
183
Number 5532
.
The Commercial and Financial Chronicle
.
.
21
i
Milton
of
Shapiro, Hill, Thompson & Co. Inc.; George A. Searight; Edward F.
Henderson, Trust Company
America; David H. Magid, Hill, Thompson & Co., Inc.; Glenn
Schlessinger, Eastman, Dillon
& Co.; Clermont
Cartwright, Hill, Thompson & Co., Inc.
North
Your Doorway to trading markets in
New England Securities
31
MILK
STREET, BOSTON 9, MASS.
Telephone HAncock 6-8200
Members New York and Boston Stock
Exchanges
Springfield
Arthur
Vare,
Kalb,
Voorhis
Ira
Haupt
&
&
Co.;
Co.;
Irving
Coulter,
Herbert
Kelly,
Godnick
Ira
&
Haupt
Son;
&
Joseph
Fitchburg
•
PRIMARY
Mathes,
Worcester
*
MARKETS
Co.
UTILITY and INDUSTRIAL STOCKS
NEW ENGLAND SECURITIES
BOSTON
A.
M.
CORRESPONDENT
KIDDER
&
CO., NEW YORK
'*
.
h
for
BANK and INSURANCE STOCKS
J. B. MAGUIRE &
31
Milk
Open-end Telephone Wire
New
CO., INC.
Street, Boston 9, Massachusetts
York—CAnal 6-1613
Bell
|
to New York
System Teletype—BS
142
Boston-—-HUbbard 2-5500
Providence, R. I.—Enterprise 2904
Portland, Maine-—Enterprise 2904
Hartford, Conn.-—Enterprise
Abe Strauss, Strauss, Ginberg & Co., Inc.; Ed Jacobs, Jay
W. Kaufmann & Co.; Arnold J. Wechsler,
Ogden, Wechsler & Co.; Dunbar B. Abell, Reed, Lear & Co.; Sam De Socio,
Primary
CONNECTICUT
MARKETS for Dealers everywhere
We particularly invite
Industrial-Utility
inquiries in:
your
AMERICAN
-
Bank
CONN.
LT.
POWER
EMHART MFG.
Municipal
NEW
Securities
directory
F.
&
"Security Dealers
A
1,600
page
of North America"
book
covering
cities.
all
containing
United
Listings
Address,
District
BRITAIN MACHINE
RUSSELL MFG. CO.
Including
Post
CO.
Character of Business
Securities Handled
Names
of
of
Partners
or
Trumbull
Hartford Tel. JAckson 7-3261
Bell
inc.
Street, Hartford 1, Conn.
Teletype HF 464
An
N. Y. Tel.
DIgby 4-6713*
NEW HAVEN
PROVIDENCE
Numbers—Private
London, Conn.
Norwich, Conn.
Waterbury, Conn.
Manchester, N. H.
Direct
Wire fo
Mem¬
located
is
another valuable feature.
Bound in
BOSTON
durable limp fabrikoid—$12
YOUR
ORDER
TODAY
Manchester, Conn.
Springfield, Mass.
W. Wardsboro, Vt.
Bristol, Conn.
Worcester, Mass.
Yarmouth, Me.
Troster, Singer & Co., New York
HERBERT D. SEIBERT
25
Park Place
New
&
CO., INC.
York
REctor 2-9570
New
England
Securities
STREET, BOSTON 10, MASS.
Connec¬
Numbers—
—
are
in
MAY& GANNON.^
140 FEDERAL
Clearance Arrangements
ALPHABETICAL ROSTER of all firms
ENTER
New
Phone
Systems—Teletype
showing city in which they
Boston Tel. HUbbard 2-3780*
*Direct Hartford-New York-Boston 'Phones
NEW YORK
Phone
tions—Wire
Markets
General Market Stocks and Bonds
Class
Department Heads
Correspondents
Primary
Names
Exchange and Association
berships (Including N.A.S.D.)
MlDDLEBROOK,
con¬
Office
6c
Officers.
Stock
100
and
Numbers
General
of
Since 1929
and
arranged
name under which business Is
ducted and date established
Street,
VEEDER-ROOT
COBURN &
8,657
States
are
Firm
CO.
C.
SOUTH'N NEW ENG. TEL.
TORRINGTON
of
STOCK and BOND HOUSES
HARTFORD ELECT. LIGHT
LANDERS
Co.
geographically and
alphabetically,
are
comprehensively detailed:
CONNECTICUT POWER
State &
&
Canadian
SPRING
&
L. H. Ingraham
listings
HARDWARE
ASSOCIATED
Insurance
6800
7, N. Y.
William F. May
President
Joseph Gannon
BOSTON
HU
William J. Burke, Jr.
Vice-President
Treasurer
NEW
2-8360
CA
YORK
6-2610
HARTFORD
PORTLAND
PROVIDENCE
Enterprise 9830
Enterprise 9830
Enterprise 9830
Bell System
Teletype BS 568-9
The Commercial and Financial Chronicle
22
.
.
.
Thursday, May 10, 1956
M. S. WIEN & CO.
MEMBERS N.
SECURITY DEALERS
Y.
EST.
1
ASSN.
1919
EXCHANGE
PLACE
JERSEY CITY 2,
N. J.
AI
Telephone HEnderson 5-9400
Kaidy, Cohu
Teletype JCY 783
& Co.;
Ed
Bill Sabah, Cohu & Co.; Les Gannon, Peter Morgan
Hansen, Chemical Corn Exchange Bank
& Co.;
*
—
•
—
DIRECT NEW YORK
BArclay
PHONES
7-0044—0050
A Potential Blue
Chip!
GENERAL CAPSULE
Class A Common Approx.
Production
has reached
$2.50
Martin Gilbert,
a
volume at this date
&
Colfer, Rufus Waples
Co., Philadelphia; Sam Englander,
Harry Simmons Co.
Bache & Co.; Stan Jeffries, Newburger & Co., Philadelphia; Larry
Co., Philadelphia, Walter Gossling, Rufus Waples &
Englander & Co.; Harry Simmons,
equal to 6 times last year's entire output
•
The
seamless
capsule
is
a
revolutionary
new,
patented
process.
•
Management long experienced in capsule field.
•
Company's
present
equipment
on
24-hour
schedule
with
backlog of orders.
New equipment
arriving in 90 days, should triple output.
•
Used
•
Serves such diversified
by
some
of largest nationally advertised brands.
industries
cal, food, cosmetic, chemical and
•
Company is
financially sound.
as
pharmaceutical, medi¬
others.
many
Very conservative
capital¬
ization.
Send
for Free Report
on
this
very
worthwhile growth situation
GENERAL INVESTMENT CORP.
80 Wall
St., New York 5
BO 9-1600
Sam
Banks
—
Brokers
—
Cohen, H. E. Herrman & Cohen; William R. Heilweil, Lee Co.; Joseph Delfino, H. Hentz & Co.;
Warren V. Reardon, H. Hentz & Co.
Dealers
C/Announcement
is made of the formation of
Pigeon-Hole Parking, Inc.
UNDERWRITERS & DISTRIBUTORS
:
Grace Canadian
*»
V
Texas
Securities, Inc.
with offices
-1
—
Bought
at
Sold
•
Quoted
•
Brokers for Brokers,
25
Broadway, New York 4, N. Y.
Firm Markets maintained in
Tel: HAnover 2-0433
to transact
a
Tele.: NY 1-4722
over
Mining
general brokerage business ii
Canadian Securities for banks, brokers am
dealers.
Orders executed on all Canadiai
Exchanges
or
—
Industrial
Your
Inquiries Will Receive Our
Careful
and
Interested Attention
a
at net American prices.
Associated with Hart Smith & Co. 1930-1937
Associated with W. C. Pitfield & Co., Inc. 1937-1956
GEORGE G.
REISS, Vice-President
Associated with Hart Smith & Co. 1928-1956
Oil
Dealers, Banks and Institutions
Common Stocks
Capper & Co.
IRVING P. GRACE, President
May 7, 1956
—
200
1
Exchange Place
Jersey City 2, N. J.
DIgby 9-3424
Branch Office
149 Broadway
New York 6, N. Y.
Tele.— JCY 119
fkarantt, ilurphg & (En., 3nr.
50 BROAD STREET
Whitehall
4-7361
NEW YORK 4, N. Y.
Teletype NY 1-2402
Volume
183
Number 5532
.
.
.
The Commercial and Financial
Chronicle
23
IIIIIIIIIIIIIIIIIIIHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIKIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIU
I
Joseph J. Lann Securities,
37
WALL
1
inc.
STREET, NEW YORK 5, N. Y.
Telephone WHitehall 3-6344
Joseph J. Lann
John
Fitzgerald,
Salomon
Bros.
W.
&
C. Pitfield
Hutzler;
&
Frank
Co.,
E.
Inc.;
Paul
Doll,
Salomon
Mulligan, Goodbody & Co.;
Corporation, Boston
Bros.
A1
<fi Hutzler;
Moore, New
Laurence
York
Douglas
C.
Alexander
Berg,
Hanseatic
^iiiii him ii i imiii mi in 11 nniii ii ii ii iiiiiii] iiiiin in 11 iiiii 11 iiiiiii mi 111 iiiniiii 111F
Pigeon Hole Parking of Texas, Inc.
The
largest
owner
Pigeon Hole
and operator of
garages
in the world.
Large potential for growth throughout
18 Southern and Western states.
SPECIAL
REPORT ON REQUEST
LESLIE SECURITIES CORPORATION
52 Wall
Chester A.
Street, N.Y. 5, N.Y.
BOwling Green 9-8122
Alberts, C. A. Alberts <ft Co.; Albert M. Heaney, Grace National
Bank; Sam J. Rutberg,
Rutberg & Company, In<±; Ken Ebbitt, Shelby Cullom Davis & Co.
We maintain
active
our
trading markets in all
past
underwritings
Gearhart & Otis, Inc.
74
Trinity Place, New York 6, N. Y.
WHitehall 3-2900
C.
E.
Stoltz, C. E. Stoltz & Co.; Herbert Nickel, Grace National Bank;
Irving Maxfield, Cohu &
Pat Caldana, A. M. Kidder & Co.
Teletype: NY 1-570
Co.;
'
■
'
V.'".
:
•
'
..
■
^
Underwriters and
Distributors
A securities
and
firm serving dealers
individual
research and
on
investors
DIVIDENDS
based
GALORE
trading markets
Nothing
than
Strauss, Ginberg & Co., Inc.
115
Broadway
of
more
the
the
Issue
"Chronicle"
dividends
Teletype
BArclay 7-7631
n Y 1-3636
when
Monday
for
New York 6, N. Y.
T elephone
i
helpful
declared
payable
and
coverage
j
State, Municipal
Corporate Securities
The Commercial and
24
Financial Chronicle
.
.
.
Thursday, May 10, 1956
STANY Glee Club in Action
GLEE CLUB which provided one of the
20th Annual Dinner of the Security Traders
Association of New York at the Waldorf-Astoria on April 27. Active members
of this now famous choral group are: Sal Rappa, Conductor; Hank Serlen;
PICTURED
above
entertainment
is
the
features
STANY
at the
Les
Joe
Billings; John McLaughlin; Barney Nieman; Haryy Zieman; Bill Sabah; John
Danemeyer; Jim Torpie; Jack Blockley; Murray Barysh; Elly Smith.
Reg.
Knapp;
Gannon;
Charley Kaiser; Skip Clemence; A1 Kaidy; Harry Casper;
lrv. Maxfield; Tommy Davis; Doug. Alexander;
Milt Blauner;
CANADIAN
BONDS
STOCKS and
We
trade actively
in the following Securities in NET
Abitibi Power & Paper
Co., Ltd., New
Com.
Abitibi Power & Paper
Co., Ltd., 41/2%
New Pref.
Com.
Distillers Corp. —
Dome Mines Ltd.
Ltd.
Corporation Ltd.
Atlas Steels Ltd.
The
Britalta Petroleums Ltd.
British Columbia Forest Prod. Ltd.
Bank of Nova Scotia,
The
Ltd.
Canadian Chemical & Cellulose
Rare Earth Mng. Co. Ltd.
Royal Bank of Canada, The
Magnesium Ltd.
MacMillan & Bloedel Ltd. Class "B"
Sherritt Gordon Mines Ltd.
Stores Ltd.
Massey-Harris-Ferguson Con v. PFD.
Silver-Miller Mines Ltd.
McColl-Frontenac Oil Co. Ltd.
Steep Rock Iron Mines Ltd.
Mclntyre Porcupine Mines, Ltd.
Minn. & Ont. Paper Co.
Moore Corporation Ltd., The
Sullivan Cons. Mines Ltd.
New Royran Copper
Noranda Mines Ltd.
Traders Finance Corporation Ltd., "A"
Trans-Mountain Oil Pipe Line Co.
Ltd.
Canadian Devonian Petroleums Ltd.
Hydrocarbons Inc.
Canadian Industries (1954) Ltd.
Canadian
Tech-Hughes Gold Mines Ltd., The
The Toronto-Dominion Bank
Mines Ltd.
Geco Mines Ltd.
Normetal Mining Corp.
Triad Oil Co. Ltd.
General Dynamics Corp.
Great Lakes Paper Co. Ltd.
North Star Oil, Ltd.
Ventures Ltd.
Ontario Jockey Club Ltd., The
Violamac Mines Ltd.
Opemiska Copper Mines (Quebec) Ltd.
Walker-Gooderham Worts, Ltd., H.
Westcoast Transmission Co. Ltd. Units.
Development Co. of
Canada Ltd.
Company Ltd.
Gunnar Mines Ltd.
Pato Consolidated Gold
Hoyle Mining Co. Ltd.
Hudson Bay Mining & S. Co. Ltd.
Husky Oil & Refining Ltd.
Pend Oreille Mines & Metals Co.
Dredging Ltd.
Peace River Natural Gas Company Ltd.
Placer
Westcoast Transmission Co. Ltd. V.T.C.
Winnipeg and Central Gas Co.
Yellowknife Bear Mines Ltd.
Development Ltd.
Direct Wire Connections - TORONTO, NEW YORK, MONTREAL
all Canadian Exchanges at regular commission rates.
1-142
Liberal Petroleums Ltd.
Dominion
Great Plains
Canadian Colleries (Dunsmuir)
on
Mining & Exploration Co.
Quebec Lithium Corp.
Quebec Metallurgical Ind. Ltd.
Quemont Mining Corporation, Ltd.
Dominion
Frobisher Ltd.
Canadian Breweries
Teletype N.Y.
Labrador
Falconbridge Nickel Mines Ltd.
Canada Oil Lands Ltd.
executed
Kerr-Addison Gold Mines Ltd.
Ltd.
Eastern Steel Products, Ltd.
Smelting
Gold Dredging Ltd.
Canadian Bank of Commerce,
Prospectors Airways Co., Ltd.
Interprovincial Pipe Line Co.
East Sullivan Mines,
Brunswick Mining &
CHARLES KING & CO.
MEMBERS
Montreal Stock Exchange
Toronto Stock Exchange
American Stock Exchange
Canadian Stock Exchange
455
61
Royalties Company Ltd.
Pronto Uranium Mines Ltd.
International Paper Co.
International Utilities Corp.
Seagrams, Ltd.
Prairie Oil
Price Brothers & Co. Ltd.
The
Petroleum Ltd.
Du Pont of Canada Securities Ltd.
Bank of Montreal
Orders
Canadian Pipelines &
Cassiar Asbestos Ltd.
Ltd.
Ltd.
Co., Ltd.
Bulolo
International Nickel Co. of Can. Ltd.,
Copper Cliff Cons. Mng. Corp.
Crown Zellerbach Corporation
American Leduc Petroleums Ltd.
Anglo-Newfoundland Development
Argus Corporation
Industrial Acceptance Corp.
Canadian Pacific Railway Co.
Corporation
Consolidated Paper Corp. Ltd.
Consolidated Sudbury Basin, Ltd.
Aluminium Ltd.
Powell River Co. Ltd.
Canadian Javelin Ltd.
Chemical Research
Algom Uranium Mines Ltd.
Algoma Steel Corporation Ltd.,
Asbestos
U.S. FUNDS:
Broadway
NEW YORK
WHitehall
4-8974
Craig St. W.
Canada
Building
MONTREAL
UNiversity 1-5886
Royal Bank Bldg.
TORONTO
EMpire 4-6407
@FedFRASER