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The
ESTABLISHED
and
1839
Reg. U. S. Pat. Offic*
Volume
194
Number
roi
roi.
le
vive
mort.
est
New York 7, N. Y.,
AS WE SEE IT
EJiMai
Le
6106
Although
around the Kremlin would admit it, or
familiar
French
follows:
as
In
quip might well be Russianized about
long live Stalin—or at least
and practices.
By A. Wilfred Muy
[Tables appearing
Our
analysis of nearly 100 investment companies' portfolio
operations during September quarter's churning, high-plateau
evidently plenty of it—in the Soviet Union
murderous than it was under Stalin, and a large
stock
of freedom is
market reveals over-all contraction of portfolio
over.
permitted the ordinary Russian
although we should regard the liberty of any of thef
Kremlin's subjects slim enough in all conscience even
now.
It may well be that the "cult of personality" is
less in vogue in Russia than it was in the earlier days
of the Communist state, although we suspect that there
measure
Net buying of common stocks reduced.
include
groups
agricultural
equipment,
airlines,
autos,
GM,
were
tobacco
were
Ford
Minnesota
abates.
stocks.
duPont.
and
Bethlehem and
so
in
Most
Most widely
Mining.
Redemptions
popular issues
sold
were
IBM,
Interest in foreign issues
land, and, in fact may be quite important,
than it would appear to the outsider.
it
ever
It has
was.
now
September quarter portfolio
investment
98
companies
covers
a
as
Russia is concerned.
the
other
more than their purchases; thus, their
purchases increased from $116 million to $146
million. The closed-end companies bought less and
sold less, with the result that their net purchases
trimmed
were
J.
D.
smaller than in
state
To
(another
to
a
mere
$0.5
represent about 75% of all investment companies')
bought $657 million worth of common stocks dur¬
ing the September quarter, against $723 million
during the June quarter. Their sales of $518 mil¬
lion of common stocks likewise fell short of the
$561 million they had disposed of during the June
quarter. Thus, their net acquisition of common
stocks declined from the June quarter by 13.6%,.
$161 million to $139 million.
from
ing the June quarter the excess
In contrast dur¬
of common stock
way,
their
as
cash
The Cash-in Situation
Redemptions of mutual fund shares in the three
months ended Sept. 30 aggregated $248 million,
down from
the
and
the $317.9
all-time
million in the June quarter
of $331.1 million in the
peak
March
quarter. With gross sales of fund shares
a new quarterly high of $722.4 million in
September quarter, net sales also established
historic high of $474.4 million. Furthermore, the
setting
the
a
ratio of redemptions to
realistic
well
yardstick
below
afforded
—
the 45.7%
sales—the popular but un¬
actually declined to 34.3%,
of
(Continued
on page
18)
State,
complete picture of issues now registered with the SEC and poten¬
a
tial undertakings in our "Securities in
Registration"
Section,
starting
on
Municipal
30.
page
and Public
Housing,
State and
Housing
Municipal
JAPANESE
Securities
STATE
SECURITIES
'
*"
it
NOW IN REGISTRATION—Underwriters, dealers and investors in corporate
U. S. Government,
million
stock
common
increased
SECURITIES
are
$2%
many as 19 of these
position, against only
eight during the June quarter. And only eight re¬
duced their cash position, while during the June
quarter as many as 15 had done so.
funds
securities
Public
of
excess
Sept. 30th.
under
beginning under Stalin. In the (Continued on page 11)
from
open-end[. funds' small
selling over buying
cited above, these funds generally increased their
cash position. Their percentage of net assets held
in cash or equivalent increased
from^6.4% to 7.0%.
the market,
transactions
the preceding quarters. While
declined during the three-months
The investment companies here
review
(whose net assets of $16 billion
ended
folly in assuming Russian good faith in the Berlin
situation continues to be as evident now as - it was in
H
In line with the balanced
quarter,, they
A
open-end
net
portfolio volume had increased by 63% during
the March quarter and about 10% during the June
Our
balanced
stock sales exceeded purchases by
whereas in the June quarter they
net
The
3%.
were
acute and
flexible
over
tion, declined
such
become plain as a
12.5% increase
a
more commons than they sold.
hand, common stock sales by the
open-end stock funds having less portfolio discre¬
partial recovery.
..
During this see-saw movement in
the investment companies' portfolio
pikestaff that good faith in the understanding about
atomic bomb testing was and is nonexistent so far as
the
of the
df
and
common
$7.6 million,
bought $42 million
On
decline further.
individual
by industry groups.]
sales showed
over
com¬
stock
common
million.
only
fact
f toward other countries remains precisely
Copy
common
Industrial Average ranged
between a low of 679 on July 18th and a high of
726 on Sept. 7th before its renewed reaction and
inhabitant
general, much of the methods of Stalin remain the guid¬
ing principles of those now in control of Russian affairs
—and will be administered by former Stalin hatchet
men.
This, perhaps, is particularly true of those aspects
of public policy which most directly affect the remainder
of
the
world.
The same
scheming aggrandizement
as
stock transactions
purchases
popular indexes, exceeded its previous < peak, but
for the quarter as a whole produced a net gain of
'v The fact remains, however, that the broad aims and, in
constant
analysis
operations
Change in Objectives
All this may seem very important to the
transactions;
funds,
balance
on
period of stock market churning on its historically
high plateau. During this period of continued in¬
ternational tension the market, as measured by the
of Kremlin
and
securities
Sold
heeding latent public opinion and feeling than was for¬
merly the case.
more
total
other
banks, beverages, containers, finance, railroads and textiles.
This
,
a
20 and 27 show funds'
pages
the March quarter.
In the case of the
a
No
on
parative investment positions;
turn¬
Most favored
good deal of sham about what is being said about
it in the Kremlin., Possibly the powers that be in that
bedeviled land feel a little more under the necessity of
is
Cents
High Churning'Stock Market
that intrigue—
there is still
is less
50
one
Stalin is dead,
many if not most of his ideas, policies
We assume it is true as so often claimed,
Price
Funds'Portfolio Turnover Reduced
in and
dare admit it, this
no
Thursday, November 9, 1961
MUNICIPAL
AND
Lester, Ryons & Co.
623
So. Hope Street, Los Angeles
California
17,
Agency
Bonds and
•
.
TELEPHONE:
.
.
Members New York Stock
HAnover 2-3700
The Nikko
Securities Co., Ltd.
Founded
Chemical Bank
BOND DEPARTMENT
'
Teletype:
Affiliate:
SAN
Nikko Kasai Securities Co.
Bond Dept.
T. L.WATSON & CO.
Active
Members
New York Stock Exchange
Stock
'
25
Dealers,
Markets
Banks
New
York Correspondent
■'
1
Brokers
—
Orders
Executed
Canadian Exchanges
CANADIAN
DIVERSIFIED
•
CALIFORNIA
K]
BONDS & STOCKS
On
All
r
CANADIAN DEPARTMENT
Exchange
Teletype NY 1-2270
\
BROAD
STREET
DIRECT
WIRES TO M OUT REAL
AND TORONTO
Dominion Securities
GOODBODY fie CO.
Grporatiom
MEMBERS NEW YORK STOCK EXCHANGE
BRIDGEPORT
MANHATTAN
Pershing * Co.
-
Block Inquiries Invited
Commission
;
NEW YORK 4, N. Y.
1
CHASE
Maintained
and
LOBLAW, INC.
,
"
Teletype: NY 1-708
THE
Southern
California Securities
1832
ESTABLISHED
American
on
Municipal Bond Division
BANK
To
-
Inquiries Invited
LOS ANGELES
FRANCISCO
Net
.
Oceanside, Pasadena, Pomona, Redlands,
Riverside, San Diego, Santa Ana,
Santa Monica, Whittier
OF NEW YORK ;
TOKYO
-
New York 15
THE FIRST NATIONAL CITY BANK
NY 1-2759 U
DIgby 4-7710
•
Head Office:
30 Broad Street *
Offices in Claremont, Corona del Mar,
Encino, Glendale, Hollywood, Long Beack,
New York 5, N. Y.
Telephone:
Notes
Members Pacific Coast Stock Exchange
Plaza
NewTbrklust Company
Exchange
Exchange
Associate Member American Stock
1 Chase Manhattan
1824
.
BONDS
-
•
PERTH AMBOY
*
1 NORTH LA SALLE ST.
2 BROADWAY
NEWY0RK
'
\
-V>
CHICAGO""''.
40
Exchange Place, New York S, N. Y.
Teletype NY 1-702-3
WHitehaH 4-8161
^Electronic Industry
> MUNICIPAL BOND DEPARTMENT
BANK OF AMERICA
N.T.&S.A.
SAN FRANCISCO
•
LOS ANGELES
J
2
The Commercial and Financial Chronicle
(2066)
The Security
Banks, Brokers, Dealers only
For
Hams, Upham & Company
'Menibers New York. Stock
Interstate
tional
New York Hanseatic
BOSTON
Private
Nationwide
Wire
•Earnings
'of
GeorgeV. Honeycutt
proximately $15V2
is
S.
GROSSMAN
than
& CO. INC.
Members
Y.
cost
BONDS
Bids
on
Odd Lots
WHitehall
-
No.
3-7830
by
indicate
rate
a
In
.
50
cent
many
dend
a
Navy
for
American Furniture
which
contributed
the
of
Bassett Furniture Industries
the
Polaris
in
:is
neering
diversified.
manufacture, for defense,
STRADER and COMPANY, Inc.
M
interstate
-
TWX LY 77
—5-2527—
Private
Wire
to
.
New
York
City
for
Engineering
WALL
STREET
«—
Refined
—
^Dlgby; 4-2727
In
Sizable Profits
and
illustrate, early :this year
bought the 24-storv
penthouse
a
Esquire
Building
of months 'this
matter
ing was sold at
profit.
building, '
Wail
the
Sweeper,
,
of this
In
(1961)
June
title
ditioned
to
These
their
in
division.
popular
stocks,have
pas^ decade,
a7
been
'
'
•
'
,
nies
become
investments
Side.
This
than
less
aircraft,
missile
test
instrumentation. They also
research and development in
completed,.. and
.
apartments -have
into
all
Record
the
an¬
(Only $45
!
however'
Square,
which* has
prestige
search
been
chester,
divisions.
the
In
real
the
and
research
current Tiseal
sales
the
for
slightly
.will
Samuel
J
is
lines,
' Transnation
It is dedL
of seeking a
continuous high return on capital
cated
be
Corporation.'
to
a
balance
West
220
\
Utah
research
owned
.
'
divisions.
'
*(This is under
.
-
'
-
as #,
''
At
the
no
"
*
'
circumstances
■■
solicitation of
an
r'
to
»'
,
1-
.
....•*. /.I
be construed
offer to buy,
any
I
as
,
•
'
.
ah offer to sell,
'
by the
or
?
security referred to herein.) -4
Its
*
<•
to-find"
Counter
quota-
Write
or
v.
call:
25 Park Place
1
1
New York 7, N. Y.
REctor 2-9570
company,
offered for sale.
suburb).
'
"hard
as
|
On the
Ferndale
(a
N. Q.
Detroit
>v
common
:\;C:.r
.-
'
shares
INDUSTRIAL STOCK INDEX
Continued
.
23-Year
on,page
8
Performance
of
35 Industrial Stocks
,
.
«FOLDER ON REQUEST
;
National Quotation Bureau
;
outstanding
B.
OVER-THE-COUNTER
•
Transnation.
*
-
securities
WILLIAM B. DANA CO.
•' RittenhoUse
for the first six months of this: highly competent - management is
year! ThisMs," indeed, a remark,- w o r k in g " for stockholders f of
and
will
monthly .prices
-/..A.,-.'
Philadelphia, 'and 'fwo
apartments ' in
West¬
building,-in
program
those
the
-
,
the volume
impressive. A
approximately
from, .the Autronics
publication
the
tions.
$20 million.. Of this
over
$4) ; '
—
year >
more
from -judicious -acquisitiop
and. .Space here does not permit a
$6.3 mil-?profitable -re-sale- ofcarefully full cataloging of all the attrac¬
lion will come from, the vacuum
selected prime real estate. _/ A a
tive properties in which Transna¬
cleaner and accessories division,
Since
its
incorporation jnv tion now has interests. The above
$3.5 million from the HADCO di- August, I960, it earned $193,676 instances ' Will, ; however, convey
vision, about $9.3 million from net income by Dec. 31, >1960; and some idea of the skill with which
the electronic divisions-arid the $358,100 in net (after rtaxes) just.,
an1 irrtaginative,
aggressive and
amount,
as
Over
arrangements.
acquisition side, Trans¬
nation, this year, contracted to
purchase a shopping center in
Queens County, New York, and
a
two-story department s t o r e
Weinberg 1
different
company
Realty
that total
company
" by
This
field.
at
will be
ndingly
along
year,"mam
agement has estimated
ta
"out-:
operating
entirely
growth should be in
electronic
ing
company
s
well
24-story luxury apartment build¬
realty
successful
you
all -listedv
on
total of over $39,-
a
This
will-be-even
js
production is con¬
ducted by their Electronic Engi¬
neering, Autronics and Utah Re¬
bound
give
cooperative
either
of
aggregating
electronics, research onto highvelocity and high-pressure tech-
and
This
'being ;efficiently
the buying of quality
out:
000,000.
There
a
year)
per
(Single Copy
•
-
;tn eight months of 1960 Trans¬
nation bought and sold commer¬
cial
and
apartment
Structures
from
rentals.
THEM
Bank & Quotation
co¬
sold,
.
been
sale Pr-lease-back
derive
do
FIND
program
techniques
major'
their
^
•
years
packaging
and
im¬
proving them physically and .fi¬
nancially, and rewarding resale
of fee and net 'lease bY various
in-'.
income
•',-; '
>•'
properties,
ing" structures
an(j
•
;:IN
splendid
'four
converted
being
carried
in'the
many
produc-
come
•"•'V
air-con¬
tions, which are only a few, you
see a well defined and profit
and
own
•
WILL
the-company
deluxe
can
compa¬
manage
and
.
.
.
such
For
i
YOU
New York's fash¬
on
East
structure,
because of the
high yie,ds atld tax ghelter they
afford. Most
'
" V .
manufactured
are
HADCO
estate
very
brakes, and couplers for-Mobile
homes, wheels for trailers, and
undercarriages
for trailers
and
•>:*?
13-story apartment at 12
SUtton Place
laden
Reai
Anaheim and Puerto Rico. For
rj>' f
also at a'fine'profit,
year,
ionable
'SOCUl^loni tnc.,/!Sew York City
and
<\ t
.
Transnation Realty Corporation
Vanguard Home Fire Alarm System
These products are manufactured
Carpet
Their
t <+
district, with an¬
of over $700,000.
rolls
rent
iPiace,
Exchange
40
This property was resold in June
v
Corpo-
QUOTATIONS?
office
known
the *hea'rt"'df
in
located
Street financial
nual
most substantial
well
the
Closed
re-
a
Need Hard to FInd
hold¬
Last""y§hr'! TVahfe'Hsltion
.
bought
their■
SAMUEL WEINBERG
.
•
Disc
search
-saving5
149 Broadway, New York 6, N. Y.
Chicago, coupled with a longlease-back to Esquire, Inc.,
the renowned magazine publisher.
'Engi¬
They
for An-
OFFICE:
YORK
NEW
rewarding,
spectacular
cases,
.Telephone: BEekman 3-3622-3
niques, and make missile ground
handling
equipment.
This
re-
iExports—Imports—Futures
at
Securities Co.9 Ltd•
pos¬
operative ownership. When ;this
re-merchandising of tenancy has
Polish-Aire Floor Polisher, Magic
siles
Liquid
resale
some
made
old,;is
range
Raw
DAI WA
im¬
and
buildings and re¬
tenancy arrangements.
Over-the-Counter Market."
defense, they manufacture valves,
cylinders and actuators for mis-
SUGAR
remodeling
•
trucks.
NEW YORK 5, N. Y.
estate.
-ration.-The stock is traded in the
industry, they manufacture axles,
9 9
SECURITIES
in
closer look
a
offices
JAPANESE
President, Steinberg, (Grossman & other -Aplump,- profit : should be
dusto- ami for the hOTiie .For"the -'/.-v.
,\>,r VW/,
realized.'
■ '•'-:
;'
home, the company manufactures ,r
T
- •'
A
>;:v.
-Frcm
the
foregoing
transac¬
the
Compact Vacuum
Cleaner,
in
& CO., Inc.
"and
year
v
LD 39
and
stock divi-
'.its " investors
prime
1956.
Interstate
how
see
after
year
patience might take
Ballistics
Fleet
the
money
warded
and
real
term
in 1955.
Inter-
program."
Missile program since
Commonwealth Natural Gas
services
to "the -success,
state Electronics has beema
Let's
LYNCHBURG, VA.
the
a
growth
company
that •.'•has
demonstrated its ability to. make
of ;the
Secretary
"'meritorious
Contractor
Life Insurance Co. of Va.
and jGold
Certificate
Medal from
branch
our
of
later
in
To
vacuum cleaners to missiles.
Interstate
Engineering
has
a
January of 1961, their subsi- sound financial position witm curdiary company, Interstate Elec- iren^- assets covering liabilties at
tronics Corporation, was the>re- - the ratio of 2.8^0 1.
cipient of the Navy's Certificate
Therefore, it seems to me'thatof Merit, and their President re- -the
investor who - is looking for
Trading Interest In
wires1 to
Transnation
from
ceived
in
by
Swift
-
a
1958, and a,.20%
Mobile, Ala.
profits.
year
ancj
La. - Birmingham, Ala.
dollars
real
of
and
5% stock dividend !in ^is1961, 100% stock dividend or a 2-for-l split in 1959,
4ojQ stock dividend in both 1957
paid
rcai
.
NY 1-1557
2-0700
uniquely ef¬
enhancing
property
methods 'have
sible
for
to
over
Direct
'C'
billion
a
These
a'Share
addition
half
vision
'currently
are
HAi
company.
respected
in 'the
American
provement
which
a
by
nominal
,
New 0 rleans,
exceed¬
an
In his 38-year
bought and Sold
has
of
values
Tn
1-2762
NY
Members New York atock Exchange
1Members American Stock Exchange
has further been
fective
figures
stock dividend paid in July,,
I mentioned : before, 'they
25%
and
alert
is
didirections.
products and markets range
in
?he
than
worth
He
most
leaders
industry.
career
the rate of I2V2
quarterly, which
at
share
a
anniiai
Engineering
Interstate
versified
Exchange vP.lace, New "York 5
cents
WOuld
This growth
some
supervision
conscious
Their
Teletype
of
top management team fheaded
President>Prank E. Booth.
(To Brokers an<l/I|*aler»)
Phone:
sales volume has more
while net worth
capital
have
result
the
is
which
dividends
^35^
working
constantly increased.
Security Dealers 'Ass'n
1,
to
-being -paid
doubled,
net
and
is
40
17
past
the
In
rate.
accelerated
five years,
nation's
more
share. That
per
Co!
Steiner, Rouse &
*that
\
estate
growth comDanies these days,
growth from here on should be at
an
the
times-earnings ratio of about
a
be
-managed
successful
adjusted for the split.
The
stock is currently selling at ap-
my
suggests
must
well
are
con¬
In
Bought—Sold—Quoted
—
Transnation Realty is actually
the
lengthened
shadow 'Of
its
President, ^Henry Goelet, one of
approximate 90
All
and
It- is!
as
shares ) outstanding.
growth
pattern I like,
'that is, grad¬
but
ingly
have
year
should
-record
-Transnation
compared to 96 cents a
share
last
year.
The company
paid a 25%
stock dividend !in
July, so there are now 1,401,131
rstate
e
Corporatiori
19 Rector St., New York 6, N. Y.
share during the
ending April
per
fiscal
1962,
30,
the 'kind
'has
been noted and changes
cents,
I n't
Transnation Realty
able
improvement
months, but an
current
opinion, due to research and farsighted
diversification,
their
N.
and "acces-
cleaner
vacuum
areas.
Engineexi'ng
5
System
Louisiana Securities
—
,y Samuel Weinberg, President, S.
•Weinberg,
Grossman
&
Co.,
Inc., New York City. (Page 2)
producing
designed to overcome some of the
obstacles to direct selling in some
In¬
at "this
stant.
.
•
all
vear
been made in their sales program
Cor¬
ual
.
'
.fiscal
six
have
neering
Exchange
SAN FRANCISCO
•
s0Urces.
.
has
na-
Engi¬
tion
CHICAGO
-•
the
.time.
Tehitype NY 1 -40
PHILADELPHIA
research
>
■
.Exchangethose
promi¬
terstate
Corporation
WOrth 4-2300
■
poration
as
my
contribu¬
1920
Corp.
Like
I
Security
nence, I
Selected
Stock
..
Engineering Corp.
"The
achieved
-
Member
Engineering
ager, Los Angeles, Calif, bffice
of Harris, Upham & Co. (Page 2)
Best" sories, are producing a profit and
forum provides an excellent veare ahead of last year ! on net
hide to call attention to promis- profit.
Sales of vacuum cleaners
ing growth companies that haven't were off significantly for the first
Call "HANSEATIC"
American
Calif. «of
Angelee,
Los
j
rf
r
,
A
T
Co-Manager,
Remember, when its
Over-the-Counter,
120 Broadway, New York
Interstate
.
present time, therefore, over 50%
of sales come "from electronic and
GEORGE V. HONEYCUTT
„
large
As
Established.
Alabama &
J
Selections
George V. Hoheyeutt, vGo-Man-
highly experienced trading
organization and; extensive
wire system offers you
nationwide facilities.
Associate
favoring a particular security.
participate and give their reasons for
in the Over-
Our 40 years
Week's
Participants and
Their
Thursday, November 9, 1961
advisory field from all sections of the country
in the investment and
Experience Pays...
This
Forum
week, a diffarent group of experts
A continuous forum in which, each
"Over-the-Counter"
the-Counter field, our
I Like Best...
...
.
Incorporated
46 Front Street
.
Hew York 4, N. Y.
Volume
194
Number
6106
.
.
The Commercial andK Financial Chronicle~
.
(2067)
U
3
CONTENTS
By Dr. William Burke, Lecturer in Economics, McCoy College,
B.S.
Jolins Hopkins University, Baltimore, Md.
Analytical
essay
the definition and different
on
causes
Articles and News
of inflation
Gif
;-'S,V 1
particular attantian to the
pays
why the price level failed to
reason
■*'.
f'*>
j 'v
'*«
*
<
*
.
*"'
;
'
,
y
Page
v
;
■
'
•
COMPANY
AND
*'
.
.
v
*
x
r
■■
SWEPT INTO OFFICE
y.
_
decline after the Korean War. The writer, also, refers to the harmful'
inflation
consequences
causes
Funds' Portfolio Turnover Reduced in Higbr Churning
v.-1
:
'
• •
•'
'
-.
<
w
Stock Market^—A. Wilfred May....-..*....
summed up as creating an environ¬
ment of "broken
promises."
••
; V
mortal. .words of
"is
Calvin
to
repudiation." Never a man to
words, the-late President
.*
apt
de¬
scription of a
phenomenon
an
has
come
be¬
d
u n
mand
de¬
is,
however,
we
would
do
well
view
to
the
tioned
a,:
our
give rise to such
situation.
a
a
and
.
an
consumers
businessmen;
Not
go
up
and
v—Roger
at
pay
•'
/ :
.
.
..Cover
'•
K
I V.i.*•
,'J
•.>
•
—3
The
'
'/
Cobleigh._
V
.:i'V■ .,v:V
-
WHitehail
4-6551
Oxy-Catalyst
W.
Babson___
4
Aztec Oil & Gas
4
Lindy Hydro Products
10
Electronic Int'l Cap. Ltd.
mid-1945
Singer,Bean
War
Korean
;
v
Columbia Will Sponsor Awards to Managements
7
•
10 years have
HA 2-9000
INC.
40 Exchange Place, N.Y.
Teletype NY M825 & 1-4844
As We See It
(Editorial)
Cover;
•
Direct Wires to
ex¬
but.. tem¬
—
MACKIE,
&
Regular Features
Bank and Insurance Stocks
^
Chicago
28
Los Angeles
/ '
Coming Events in the Investment Field.
Why Prices Rose as They Did
A
'
Cleveland
Philadelphia
^
St. Louis
48
glance at the history of these
last 20 years
Dealer-Broker Investment Recommendations
will show why prices
8
may
•'
•
'•
'
9
had
has
long,
a
there
sad
The
history, and has usually been as¬
sociated With a rapid increase in
size
unemployed
gold or silver
only money, the
effect
was
obtained -by cutting
down on the amount of precious
when
-
•
,going
into
>
currency
so
that, two
standard
Va of 1% silver.
of
the
printing
badly
coin
was
only
,
invention
The
will
tell
you
—
came
things
.
.
and You (The)—Wallace Streete
ARLAN'S
15
Funds—Joseph
C.
Potter
*
i
■
?
News About Banks
NSTA
I' ^ "/".t ;
:'v-''
^
and Bankers
r* i.
J
v,.
TONKA TOYS
•
13
j
KING'S
Notes
48
—
DEPT. STORES
these
that
Observations—A.
civil¬
Our
Wilfred
May
'
*
:
to market.
production started to level off
while
civilian
money
income
went right on growing.: At the
same
time, consumers continued
to spend a "normal" proportion of
their incomes, businessmen con¬
tinued
to
carry
a
"normal"
amount of inventory and to ex¬
Reporter
Governments
on
28
ian
.
onGe .you
economic and financial
with
expanding consumption, and
government spending kept grow¬
ing rapidly. The result—inflation.
and consumers
There
outstrip the productive
capacity of the economy.
rapidly
was
than the
and
Public
Securities..
14
in
30
Utilities
J.F.ReiIly&Co.,Inc.
.Securities
.•
Now
Registration
Security
Prospective
Offerings
39
Broadway, New York 5
DIgby 4-4970
47
in line
pand plant and inventory
inflation occurs al¬
when
the
demands
of governments
automatically
business men
power,"
produced
.
Mutual
goods on
soakcup
.
to
As mobilization went on,
organization,
credit
29
DEPT. STORES
previously- unem¬
* found themselves
market
civilian
never
days,' of "course, we 'have im¬
proved the process even more.
most
soon
'workers
good.plate to start with,
the rapid production of worthless
paper money is a cinch./Nowa¬
our
the
civilian ^spending
.
a
With
Market
or
of working to put
stead
.'the
made things even more, ef¬
ficient, since — as any counter¬
have
Indications of Current Business Activity
paychecks and the
inclination to spend them. But in-'
press
feiter
17
BARGAIN TOWN USA
of
with .increased
•
centuries after Nero, the
guns
pecially
ployed)
the standard
coin.
The, Emperor
Nero (God
rest
his
soul)
maintained
a
standard that was 94% silver, but
later
Roman
emperors .debased
metal
number
a
'
Bargeron
these
shooting them off.
Now, these people who were set
to work for the government (es¬
ing
the
were
and
V.-
v
>
.
From Washington Ahead of the News—Carlisle
unemployment.
mobilization took
people working in nonwar indus¬
tries and put them to work mak¬
of the money supply, In
days
coins
high
was.
war
STAR INDUSTRIES,
.
•
■
,
Inflation
and
STREET, NEW YORK
;
—Yoshizane Iwasa
■
the
WALL
4 ' 4
.
the
Z
99
be a creep or. it may have.rXisen.,as..they. have. .Before
be: a gallop, or sometimes it's the war mobilizatiop'of , 1940,- the :ji>
Einzig: "British Bank Rate Cut Jeopardizes Sterling"
even
hidden for a while, but the ^markets in the American economy
' J
r."
-•C
r 'i
v
1
'""V"
" ' V
'■ ■' •
upward pressure is always there. •were roughly self-balancing, but
the
Many dbsdletes
.
Japan Copes With Rapid Growth and Slowed Exports
Altogether, then,
past 20 years
prices
skyrocketing,
other
.
San Francisoo
all prices go up; some even
down—but taken as a group,
they go. The upward move¬
ment
.
"
•
.
j
'
*
*
' >'".*•
.
SWEPT INTO 99 WALL ST.
-
;.
...
'
.
/ j
Heinicke Instruments
Wartime de¬
'jump in
perienced relative
porary—stability.
orices
wholesale.
■
-
.
the
seen
the
1 >
.
.
1961.
of
10
have
and, the
pay
early
about
inflationary period,
to the textbook, t^e
general level of prices goes up—
and that means both the prices
During
according
■
complications have caused
rise between early 1956
12%
'
v
Selected Oils and Metals—Ira U:.
20%
a
Korean
to
—
'
.
10% jump between mid-1950 and late 1951, and the post-
has func¬
economy
malfunctioned
or
'
Consumer Buying and World War III War Scare
between
mid-1948.
caused
way
—
jump
40%
and
Dr. William'Burke
re¬
which
in
a
to:r f"
<r.
>'
Many candidates
.
Telephone:
prices
between
mid-1941 ,f and
mid-1943, and the surge Of post¬
war
demand
plus
the
sudden
death of wartime controls brought
o w
scription
caused
r
• *.
;
.
;
but
spurts.
tiationary
rstand
e
just h
apt /that
r'-
v
^
-.!•'/ 1
but rather in
sharp .'in-^
once,
short
of
series
a
To
_
all 'at
come
several
decades.
■ *
"Inflation Is Repudiation"—William Burke..
The rise since the 1930's has not
these
t
p a s
developments.
y
ingly familiar
us
the
:
*
i
risen by about 25% more, because
of the Korean War and other un-
distress¬
to
prices later to sink back
prewar level. So what is
y Z,'
;Z.
■"*•••.!..
■y
the\problem? Well, simply thatprices have not sunk back after
World. War II, but have instead
hit upon
that
l1
has
pattern
general
been for
Coolidge,;
waste
here
The
war.
.
1.
'
;
-
V-..
not-yet-im-
the
in
"Inflation,"
V
Security I Like
Salesman's
Security
(The)
Best
2
Corner
24
....
simply more spending
output of civilian goods
would
absorb
at
services
S. record noninflationary prices. Too much
of
price increases. There have jnoney was chasing too few goods.
been
some
pretty wide swings,
In the later war years, infla¬
but if we look closely enough we
tion was kept under wraps. High
can
make out a pattern. Before
■taxes, rationing of goods to con¬
each major war—the War of 1812,
sumers
and
businessmen, wage
the Civil War, World War I and
and price controls, and war bond
World War II—prices were just
drives all combined to keep the
about on the same plane. After
spending of consumers and busieach major war, prices were just
State of Trade and Industry
(The)
5
Now, consider the U.
about double what
Continued
they were pre¬
on
page
Tax-Exempt Bond Market—Donald D
Washington
*See Article
and
You
and
on
Mackey
48
—
Cover Page analyzing Funds'
portfolio operations during the
third
PREFERRED STOCKS
specialized in
the
of
year.
12
Published
have
Foam
investment policy
quarter
Twice
Weekly
Copyright 1961
CHRONICLE
FINANCIAL
U.
Reg.
WILLIAM
25
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B.
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Place,
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S.
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Thursday, November 9, 1961
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plete
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"
*
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v
extra).
fluctuations
remittances
BROADWAY, NEW YORK 6
funds.
WHitehail
in
for
advertisements
York
39
Monthly,
Postage
the
exchange,
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made
Record
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NY 1-4040
& 1-3S40
4
(2068)
The Commercial and Financial Chronicle
include about 30c
Selected Oils and Metals
consolidated
v v-V'.r"
By Dr. Ira U. Cobleigh, Enterprise Economist
'
,
'
,
,
' f-
,
..
.
.
vital
■
appear
The
of certain mature and respected
short discussion
present market fashions give
prime
selling
top billing to space age, scientific,
are
loan, and
top stocks, and investors cheer¬
fully pay 30 to 50 times earnings
above
for
ples
cosmetic,
savings
and
in
performers
eager
categories. At the
durable
equities,
So
-
fashioned
enough
any
is
old
investors
those
earnings, Cities
Refining
much
lower
attractive
multi¬
only
historically.
only 5 times
but
hot
while
should
we
petroleum boom, it
runaway
possible
not expect
to
conclude
that
the
oil
list, in general, and these is¬
sues in particular, are not devoid
about
income. Among them, certain oils
to
at
cash flow.
earnings' multiples and pro¬
vide yields which are definitely
to
at
appear
equities
average
Atlantic.
comparatively
low
attractive
the
Both equities sell at
of
many
and
available
these
industrial
on
times
20
Service
time solid
same
them
with sturdy
balance sheets and
long dividend records, languish at
and
equities which
undervalued and neglected in the current market.
When
care
of current attractiveness.
beckon.
metals
The oils certainly present
American Metal Climax Inc. r
inter¬
esting values. Respected oil shares
This
company
is
the largest
today sell at prices 30% to 35% producer of molybdenum in the
below their Suez highs of 1956;
world, with an output, in 1960,
and
their
average
yields today of over 65% of the Free World's
are roughly 20% higher. Now this
requirements. Because this metal
price erosion can be satisfactorily is so strong and won't melt till
explained by the declining annual the thermometer reads 4784 de¬
growth rate in the industry (from grees Farenheit, it is valuable
6%
to about 3%)
by the over- not only in steel tools, castings
expansion of refining capacity, by and forgings but in missiles and
the competition of foreign crudes, rockets.
The demand for molyb¬
and
the
higher cost of finding denum is growing at the rate of
needed
valuation
been
reserves.
But
in
the share market re¬
cases
many
oil
new
factors
these
of
has
overdone.
Amerada
been at¬
aggressive
is in
demand, and
yield seem
oil
stocks
or
at least
have decided that
worth buying,
looking into.
to
are
^
now
♦-
Atlantic
*
think
kind
words
might be said about Cities Service
and Atlantic Refining. Both sell
both pay a $2.40 divi¬
dend (which they should continue
to
pay).
Cities Service should
earn
above $4 for 1961, and At¬
lantic around $5
(not including
stock dilution
of about 20%
if
around 53;
its
debentures
ed).
all
convert¬
stocks will have
earnings for 1961 of
$10.75
oil
were
Both
flow
per
and
shares
do
Atlantic
cash
over
share. Both have large
reserves, which the
not
prices
for
their
adequately reflect.
Refining
has
paid
cash
dividends continuously since 1927,
and
Cities
by
virtue
at
years
and
rates;
but
position
a
its
of
which
reserves
40
will
proven
attractive over¬
and oil,
AMM appears as
a
qiute uninflated equity.
It appears to have
strong market defensive qualities
and might well advance in an in¬
teresting manner in response to
rising earning power,
and
the
merger making potentials which
so
strong a balance sheet might
suggest. AMM has paid dividends
in
last
for
reserves
to
AMM
at
include
earning power
Exchange sym¬
common
stock)
would
duction
which accounts
income, oil pro¬
providing 5%; and 16%
1960
of
dividends
African
from
in¬
holdings, mostly in cop¬
(51.6% of Rhodesian Selec¬
tion Trust, 32% of Roan Antelope
Copper Mines, 29%
of Tsumeb
per
Corp.,
and
19.7%
Copper Co.)*
AMM
Service
since
1947.
has
of
consistently
sheet, with $118
million in working capital at the
1960
year-end.
Capitalization,
after retirement of the preferred
on Dec.
1, 1961, will be $9.8 mil¬
lion in debt followed by 14.2 mil¬
lion
common
AMM
$1.40
yield of
share
dividends
about
for
$2.35 with
in
net
3614
at
4%.
1961
a
and
pays
providing
a
Earnings per
should
be
next year.
(This does not
obtains
4
Lead.
Doehler-Jarvis
the
has
It
Division
give
interesting dimensions to the
porate picture.
neered in
and
6
the
casting
-
aluminum
engine
die-
for
the
car.
Lead
National
earned
common
$4.10 per share in 1960, should
$4.20 this year and substan¬
tially more in 1962. Selling at 88,
with a $3.25 dividend, this quality
equity
seems
among
the
most
favorably priced
major equities
in the building industry.
Tennessee Corporation
This
is
company
not
only
a
into
quite
a
extraction
fully integrated
manufacturing
and
It produces and mer¬
chandises agricultural and indus¬
company.
to announce that
has been admitted
to our
firm
its
and
earnings
per
share
by
For the future,
there is
a
rising
completion, Hhis
million
$30
will
which
year, of a
expansion
program
augment phosphoric
acid
capacity by 50% and am¬
monia capacity by 100,000 tons.
In
Tennessee
materials
raw
service and
Russia
system. The best offense and de¬
that
which
have
chemical research the
Through
introduced a new high
analysis fertilizing material called
company
This
Mon.
product has been
most
successfully merchandised,
and production capacity was sub¬
stantially expanded this year.
subject
to
royalty
payments.
This acquisition will
be a major contributor to Ten¬
nessee Corp. earning power when
properties,
years
stocks, has merit for those who
like growth-type companies with
sound effective managements and
zeal for corporate
progress.
hope today's piece, accent¬
of securities on
qual¬
industries,
the
Russians
would
be .to
to
not
those
with relatives
study these pictures.
Well, here are two main reasons
of
such
a
not
World War
We
progress
only of
destroy airplanes
toward us.
The fastest
coming
only
go
2,000 miles
fairly easy
from
1,000
to
hour, hence it is
a
missile
them.
Moreover, our country is sur¬
rounded by a bank of radar in¬
stallations. These are supposed to
flying
planes
"Florida."
no
far north
as
growing
tion
not
would
happen within
I
do
not
Russia I
know.
was
been
to
but
patch for
is
I
why
reason
fear
that
the
fundamental
am
optimist. I
an
the
present
consumer
now?"
reason
why
trade
is
a
the
gaudy
of millennial earning
sues,
and
by
new
is
a
believe
power.
When
boosts produc¬
every
other phase of
business. I explain this in detail
in
will be available in the latter part
of December.
fire
these
has
ICBM
stock
a
anti
hit
-
and
Outlook
my
for
1962
Company, Inc. has opened
at
New
40
York
securities
Matthew
Exchange
City,
to
business.
F.
Place,
engage
in
of
Shields & Co.
To Admit Three
Shields
missile.
Soviet Tests in
York Stock
Arctic
The
& Co., 44 Wall St., New
City, members of the New
York
Siberia and
Exchange, on Nov. 16
Henry H. Harper, Wal¬
will admit
The purpose of the present test¬
ing by Russia is to make an anti¬
missile.
missile
It
would
ter E.
Sloane, and W. Peter Slus-
to
partnership. Mr. Harper is
of the firm's
Buffalo
ser
im¬
be
manager
to
make
these
tests
underground. The big atomic and
possible
office, 120 Delaware Avenue.
bombs
Khrushchev
talks about are only a bluff to
take our minds off of what he is
hydrogen
really
Joins F. P. Ristine
F. P. Ristine &
our
supposed
tests
under
the
to
Pacific
the
in
carrying
be
Nike-Hercules
York
and
American
Exchanges,
has
announced
that
David H. Banta has become
on
York
New
Of
course,
these
anti-missile
missiles are very expensive. We
are
Co., 15 Broad St.,
City, members of the
New
doing.
asso¬
ciated
istered
Ocean,
defense
with
representative.
the
firm
For Banks, Brokers
as
and Dealers
Foreign Securities
Sold
Bought
Quoted
Vanden Broeck, Lieber & Co.
New York Stock
\
.
'
'
125
;
.
MEMBERS
Exchange
1 '
\
MAIDEN
=
■
r—r
,
American Stock Exchange
*
,
LANE,
;
J
NEW
:
"
YORK
.
38
a
Officers
are
Kane, President
and
Treasurer, and Leona Kane, VicePresident and Secretary.
;
which
-
=
offices
retail
it
good,
rapidly.
Kane & Co. in N. Y. C.
Kane &
special
business
is¬
discounting
the
missiles
missile
missiles. Nations may talk about
going to the moon or orbiting the
earth, but they are working day
and night to make an anti-missile
too old fashined in
enthralled
market
will
on
of saving
use
good.
not
will,
j the
too
divid¬
end records, reasonable yields and
moderate
price/earnings
ratios
seem
in
believe
scare
buying
This
I
remain
do
on
even
war
theory: "What's the
will
I
bomb
balance sheets, long
not
was
Russians
nuclear
States.
any
the basis of such home spun
as
in¬
by any
destroy
go
not
sure
I
and
until she
practical
When
ballistic
achieved
They
will
has
has
of
personal garden. This
a
another
now
be
Russia's
success
lack
tion
intercept
intercontinental
(ICBMs).
from
us
the
told that in addition
money
protect
missiles
offset
being a part1 of a big coopera¬
tive each farmer is given a little
The above "Nike-Zeus" may
bombers,
organiza¬
cooperatives
to
few
a
minutes.
yet
shorter
centive of the independent farmer
increase
nation
has
forced
big
than
more
the
would all
the
into
that
to
Russia
Russia Becoming Capitalistic
enough to make its bomb useless.
able
is
Yalta
seasons.
Whether
incoming enemy
airplane, the explosion would be
It
Even
Minnesota. All this
as
that
means
United
"Nike-Zeus"
hit
to
area
States, yet she has
cold, too dry, and too salty
agriculture. Almost all of the
it.
The
factories but also
our
United
drop
need
con¬
benefit
the
climate and geography. Al¬
the
has
prepare
when it intercepts an incom¬
and
get
an
to
Russian
any
to
the Canadian-U. S. border. Russia
that will catch and destroy
find
"going
a
as
is
Soviet Union is farther north than
to intercept and
bombers
the
is too
Missiles
already made great
"Nike-Zeus" missiles
on
Location
want
much less land suitable for crops.
A very large portion
of Russia
III.
Anti-Missile
have
we
tell
to
missile, which
not
'
us
This
our
for
of
Need
far
though Russia is double the
expect
now
does
capture
cern."
there
should
up
since
thus
real
would
send
United States in ruins; she wishes
Naturally,
we
decoys,
Geographical
Russia
of
over
of
the
Russia's
soldiers in Berlin.
our
from
one
being transported
Every magazine has
Berlin.
to
number
could be launched from Poland.
are
pictures of
Russia
will
and
war
would be unable
posits in Florida.
sound
November 6, 1961.
nuclear
a
United States city and absolutely
not
ities
LEHMAN BROTHERS
that
a
fastest
ing the selection
resident in San Francisco
and
Russian missiles may fall on some
reserves of cop¬
sulphur, iron and zinc on its
19,000 acres of mineral and timber
land
at
Copperhill, Tenn., plus
large high-grade phosphate de¬
We
General Partner
missile,
fense
be
Corp. has major
Di
buying
now?"
U. S. A. to ruins.
ing enemy plane it would explode
187%.
payments are completed
hence).
Tennessee Corp. at 64, paying
$1.40 in cash plus a dividend in
as a
anti-missile
chemicals, iron smter- arid' through the radar banks and give
our
country at least 20 minutes
copper. It also possesses many of
of what
to
expect. Ttile
the attributes of a growth stock notice
principle is that a "Nike-Zeus"
since, in the 1951-60 decade, it
Would throw a beam into the air,
increased its net income by 234%
royalty
(5 to 8
James B. Black, Jr.
the
on
would want to subject the
..
trial
option to purchase all the mining
pleased
monopoly
a
..
now
net
the company acquired
the
plants
and
equipment
of
Miami Copper Co., plus a leaseare
-
why
cylinder
Rambler
cor¬
Doehler has pio¬
aluminum die
provides
cast
out
consumer
of saving money
use
will
Last year
We
causing increased
seen
been
about
rise of possibly 20%
is
theory of "what's the
7%
Doubt,
however, is expressed that World War III will start unless U. S. S. R.
per,
shares.
sells
in
National
of
earnings potential to be expected
a
the
on
7.:77%
Ry Roger W. Babson
The present war scare
selling below its historical destroy it. To the
contrary, I am
price/earnings
pattern
and
its for the first time sure there will
earnings are now in an uptrend. be no such war. I suppose one
Its position of leadership in paints reason
why the people are now
and
coatings, its extensive pro¬ -taking this so seriously is be¬
duction
of
Titanium oxide, and
cause
their brothers and neigh¬
earning
power
potentials
from bors are
being called into the
O'okiep
balance
strong
view
from
had
A/A::::A%%:'4';7
•
At the present time most Ameri¬
cans
seem
to believe that there
Lead
Larger investors seem recently
to have been taking a favorable
great
potash,
12%
for
of
(Stock
for its
bol
National
:
mineral company but has rounded
facets
Consumer Buying and
World War III War Scare
1937.
since
production
additional
indicated
undefined
Other
copper
present
magnitude.
gas
market
present
Metal Climax is in
meet
to
Ameri¬
year, a demand that
vestment
few
a
can
from
Cities
Refining &
Service
We
a
ore
has recently
buying, Tex¬
a stronger
tone is perceptible in Standard of
New
Jersey,
Phillips,
Socony
Mobil, etc.
Respecters of tradi¬
tional
values
and
shoppers for
tracting
aco
6%
and with
potash,
mand,
tone
A
Thursday, November 9, 1961
.
un¬
net
earnings.)
a
solid equity producing a
metal in rising global de¬
As
'
in
share
a
.
.
Tel.:
HA 5-T300
Private Wire
°
Teletype NY 1-4686
System
to
Canada
s
r
•
Stock
a
reg¬
Volume 194
Number 6106
.
.
The Commercial and Financial Chronicle
.
(2C69)
Steel
Production
Electric
(3) Prices will probably be ad¬
justed when the time is right. The
^lyv-rtThe State of
Retail
Trade
a
since
February. The drop in prices
Price
Auto
is
Production
Index
The
Failures
the
Commodity Price Index
steel
industry
bullish.
not
Business
Chances
record
1961
hesitant
tone
that developed
during September
persisted
in
November
the
says
for leading
summary
centers
for
this
week
(1)
Week End.
Economic
not
—(000s omitted-
Nov. 4-
Conditions,
put out by The First National City
Bank, of New York. Hurt by auto
strikes, industrial production, as
1961
New" Yofk-
Chicago
Philadelphia
__
1969
1,243,000
tember to 111.6
dently
there
1.3
out
4.3
cut
—
+
little
October.
Automobile
got
back
into
the
end
of
lion
The
in
tail
sales
to
mil¬
improved
evidenced
as
materialize.
in
in
better
disappointment
conservatism
of
consumer
spend¬
ing. The hard line of Soviet policy,
threatening thermonuclear war,
has taken away some of the
opti¬
mism and confident forward
plan¬
ning that naturally emerge in a
period of rising employment and
income flow-
the
auto
Age reports.
magazine
says
Other
big
users
will
do
steel
means
not
plan
buildup
selves
ahead
pattern
short
against
will
find
steel
of
at
the
them¬
time
a
the economy is building up
possible steel strike is bear¬
ing down on them.
a
The
Iron
steel
Age
most of the
says
companies
have
tion
at
least
of
some
ques¬
the
of
$575
billion' for
1962 gross national
would be
omists
center
1962
come
but
around
into question
The
figure has
Public
sentiment
often
is
gov¬
the
short-term
to
forces
week-to-week
Economists
gain
strength.
amount to
in
government
and
business
alike
retain the conviction that business
do
expansion will proceed under the
a
curve
of
steeply
indicate
enlarged capacity of
peo¬
of
in
the
build-up
liquid savings, there is no doubt
the
public,; if so minded,
could go on quite a
buying spree.
by
pressures
stocks
on
taining
by
of
ease
additional
Slack
capacity exists
lines. Even though.there
always projects which could
many
undertaken
there,
if
profit
the
money
levels
providing
the
justifying
borrowings
in
will
J
month
the
first
79.6
year:
zine
Scrap
week.
Clearings
Nov. 4, Was
showed
pared
Week
be
a
bii*<r•>
needs.
last
a
week
>
year
ago.
com¬
Pre¬
liminary figures compiled "by The
Chronicle, based upon telegraphic
advices
the
from
the
chief
cities
of
country, indicate that for
ended
Saturday, Nov.
the
week
clearings
for
all
cities
4,
of-;the
of
a
Week
Buffalo
■
Youngstown
Chicago
so
of
tons
(vs.
133
composite
■
price
on
*
but
Profits
sales
116
weekly
production
production
for
1960.
Our
16
plants, four Chevrolet di¬
Flint, Mich.,
at
tory, took
Ameri¬
operating
its
Kenosha,
up
third
two
on
Wise,
Continued
1957-1959.
on
week.
page
o».
*
!•}
November 9,1961
'
••
State of Hawaii
3%, 31>4% and 3.40% Bonds
Dated November 15, 1961
Interest
Exempt from present Federal Income Ta^es
m
Principal and semi-annual interest (May 15 and November 15) payable
AMOUNTS, MATURITIES,
RATES AND
in New York
YIELDS
City
at
Irving Trust Company,
Crocker-Anglo National Bank,
OR PRICES
Director of the
or
in San Francisco
or
in Honolulu
at
at
the office of the
Budget. Coupon bonds in denomination of $1,000.
Due $556,000 each November 15, 1964-80,
and $548,000 November 15, 1981
1964
3%
2.10%
1965
3
2.25
1966
3
2.40
1967
7 3
2.50
3
2.60
3
2.70
1969
•
3
,
7:
3
in New York State and for
Savings Banks in
Connecticut and Massachusetts
3.00
1977
31/4
31/4
31/4
31/4
31/4
31/4
@ 100
@ 100
1973
1974
1975
1976
first half. In a
quarter earnings
Legal Investment for Savings Banks and Trust Funds
2.90
1972
maga¬
Exempt in the State of Hawaii
,2.80
1971
i
Tax
These
3.10
Bonds will
valid and
3.20
® 100
constitutes
3.35
constitute, in the opinion of counsel,
legally binding obligations of the State of Hawaii,
and the payment
3.30%
first
a
of interest
charge
on
the principal of the Bonds
the general
on
revenues
of the
State of Hawaii and the public faith and credit of the
1978-
3.40
(ex¬
1979
3.40
cluding steelmakers), Steel found
71% had gains. But on a nine-
1980
3.40
3.45%
1981
3.40
3.45
more
third
than
100 companies
basis, 1961 profits are lag¬
ging 1960's—with two-thirds of
the companies reporting declines.
State is pledged to the punctual payment
The above Bonds
(Accrued Interest to be added)
subject
to
are
offered when,
as
thereof.
and if issued and received by
us,
and
prior sale and approval of legality by Messrs. IVood,
King, Dawson £s? Logan, Attorneys, New York, N.Y.
In contrast,
1962 may be a rec¬
ord profit year for many metalworking firms because:
(1)
New
orders
continuing
backlogs, and
are
The Chase Manhattan Bank
Mercantile Trust Company
Harris Trust and
Spencer Trask 6 Co.
arid probably all of it.
business.
:w'
Savings Bank
Salomon Brothers & Hutzler
Malvern Hill & Company
Commerce Trust Company
'
Kansas
Incorporated
Stern, lauer & Co.
Green, Ellis & Anderson
.i
4.
; i
.3.
If
■
* y
.*■
:
.
.
.
ji
F. Brittain Kennedy & Co.
Freeman 6 Company
'
City. Mo.
Cooley & Company
•
V
Robert I. Wallace & Co.
16
r
vv.v..
$10,000,000
record $151
of
fac¬
Saturday work for
consecutive
4
1970
billion, but
likely to be
the
average
■
year;
(2) Defense orders should play
an important
part in boosting 1962
in
on
sched¬
of
planned six-day
its new cars at 10
facilities. Five General
Motors,
can
109.7
based
16
slated for overtime.
were
the
of
were
for
of
;<.
...
j-'lt'OCj
Won't
this
year
week
its
Motors
101
Index
4,
visions and Buick at
__
week
same
Ford Motor Co
shifts
.last
159,136 in the
but
persisted
the
assembly
plants.
week, 23 plants extended
programs into Saturday, Nov. 4.
128
Total
an
was
47
assembly
Western
of
cars
Last
87.3
nose-dived
Nov.
on
of
Southern
in
year ago.
110
the
from
week,
145,537 in
St. Louis
Output
year.
they
preliminary totals stand at $30,654,930,441 against $30,363,628,890
same
4.1%
industry's
120
about
week
new
Overtime operations
136
_
a
uled
94
Cleveland
last
152,629
previous
of
New Issue
However, mills
build up some
corresponding week'last year. Our-
the
Production
above
104
_
5,593,000
1958.
101
______
Pittsburgh
parallel
will
favorably contrast
4,244,000
in
recessionary
down
108
Detroit
was
It
automakers
United States for which it is
pos-. to rise, building up
to obtain
weekly clearings assuring a high level of operations
will be 1.0% above those of the for at least the first half of
next
for
Ingot
Ending
North East Coast__
surge
about
1959.
estimated
'
v
and
strikes, will still reach 5,500,000 to
5,600,000. This will be substan¬
tially below 6,696,000 in 1960, the
industry's second-best year,'but
Nov, 4,
follows:
sible
'<
by
the result of the General
and
Ford
Motor
Co.
as
Motors
II
month
-
ended
Production for
steel¬
fered
with
Production
week
*Index of
1968
disappointing
of
Year
as
Ward's said that total 1961
pro¬
duction, despite heavy losses suf¬
rci r.—r
predicted.
Last
fractional increase
with
a
Ingot
de¬
•
inventory rush
-7.;." ;/'• 7-7
margins are
than 1960's, Steel
review
clearings
a
Ended
1961,
in-plant
months
prices
Metalworking Sales to Set
1% Above Same
Week
Bank
for
of
with
Seasonal
industry
humming through December.
will
concludes
October.
for new
model
cars
and
strike depleted dealer stocks will
continue
to
keep
the
Cincinnati
this
ten
Steel's
Metalworking's net income im¬
i
or
for
semifinished
million
proved in the third quarter after
Bank
Index
1
picking
slimmer
stock"
or
any
in
degree.
profit
nor
44
tons
Institute
Districts for
ingot tons, the highest
of
needed.
Record,
-
1960,
of
mand
not
buildup may start
this date is not
The improvement in
is directly the result
Metalworking
be
issues.
million
mill to
1961
were
wherewithal
does
semi-finished
of
tional
are
neither
are
of
October's production
mill, November now
shapes up as a better month than
October, although not to a sensa¬
scheduling
outlays for plant and equip¬
ment.
reflected
anticipation
While the order situation varies
supplies
and
absence of fears of
price increases.
Caution is apparent in
new
now
when
from
ob¬
The
of orders from automakers.
fully utilize finishing capaci¬
can
ties
limited
This
the
starting "to
are
margins, businessmen are
keeping close control on their
budgets. Inventory accumulation
been
"5,
(*106.8%).
finished material which had been
their
current
of
profit
Nov.
a
market, The
December,
business
that
the
though
nailed down.
of
Discouraged
of
laiilcfup
business is
'
of government
expenditures
spend. As a result
increase of payrolls and
has
until
so
Even,
ple* to
situation
in
period
Nov. 4, 1961
inventories
built
through
80,765,000
count
Chrysler Corp.
on Nov.
rise in November pro¬
over
the
557,200-unit
2 assured
duction
slowly and should continue to
up
rising
the
and
the
days
to
Cars
Ward's Automotive Reports said
that settlement of a new labor
decisive lift. But the
starts.
impetus
90
advance
by present conditions
than by appraisals of
prospective
work.
of
year
87,504,000
was
steel consumption
as
makers' efforts to reduce
9.1
through
weeks
month
declined
this
amounted
rising.
Iron Age says small improvement
of the past two weeks continues
more
at
three weeks
last
Steel In¬
The year to date
production for
December,
not
was
production
>..ubm
On
high.
erned
some,
plans of the auto¬
makers hint that the buildup may¬
be a little more orderly than in
1959. But a pinch is sure to de¬
velop when the rush starts.
over
perhaps too
as
For
inventory
an
early
the goal will
will start from scratch. Inventory
levels are now at a recession low.
$560 billion
this
even
launched
be
yThe magaz;irie notes the
the apparent $520 billion level for
1961. Projections of business econ¬
for
will
steel'?
the
increase of 11%
an
when
It
and
4
1960
this week.
up
and
Signing of a New Labor Contract
At Chrysler Corp. Nov. 2 Assures
of Automobile Production
Over the Oct. Record of 557,200
A Rise
contract at
for week ended
(*98.5%)
below
the
through Nov. 4, 1960.
week
1960).
be
product, which
Production
million tons in the like period of
next year.
more
optimistic appraisals of prospects
for 1962. Secretary of Commerce
Luther
Hodges has offered; an
estimate
last
American Iron
Nov.
de¬
buildup
are
widening tendency to
a
in
indication from their biggest
customers
that
an
inventory
asking how
long the "lull" will last and there
is
edging
November
said.
received
some
Businessmen
Steel
when
and
in
ter.
a
who
consumers
steel
the
put of 2,057,000 tons
(*110.4%) in
the week ended Oct. 28.
V
The steel ingot rate will be a
reasonably good market barome¬
The
follow
similar pattern of strike hedging.
This
for
continue
was
prolonged steel strike.
the
over
be
1962,
the end of June to finish up their
1962 model runs even if there is a
at
department stores and good buyer
press
will
early
will begin a planned
buildup either in December or
January. The goal of the auto¬
makers: Enough steel in stock by
Re¬
response to the 1962 auto models,
though merchants continue to ex¬
1959
in
way
companies
October,
volume
Iron
of
inventories
to
late
failed
that
under
The
.
September, cut
back
operations
moderately
in
October when a stronger flow of
orders
to
steel
of
for
4, 1961 was 2,044,000 tons
(*109.7% or 0.6% below the out¬
will
mand
similar
month, but steel
had raised produc¬
the
Oct. 1 with¬
improvement
Data
Ended Nov. 4, 1961
stitute, production
:
on
Lack
According to data compiled by
prompted producers to raise ingot
operations cautiously. Steel esti¬
mates output was 2,068,000 tons,
up 0.5%. Operations are expected
buildup
well
toward
annual rate of 111
an
tons
slight
Production
Week
to levels forecast
up
fell
Nov.
sales
quarter
grade
$34.67, lowest
buying and weakness
the export market.
Steel
figures
A
assemblies
gear
year's
For Auto Makers by Early '62
in
the
mills, which
tion to
high
gain
in
compensating price hikes will
profit margins.
A
Buildup of Steel Inventories Seen
(1957= 100). Evi¬
was
Fourth
weeks ago.
measured by
the Federal Reserve
index, slipped off a point in Sep¬
last
(2) Wage hikes
3.8
+
971,311
1957
1.4
—
1,260,000
1,013,463
Boston
in
topping
of
year
melting
gross ton to
attributed to two factors:
practically nil.
officials would be
equal
measure
six
%
$16,907,304 $17,153,941
1,373,498
1,323,467
of
heavy
of domestic
is
in 1961, but there is
not much
likelihood of that for two reasons:
follows:
Monthly Letter of Busi¬
and
ness
October
comparative
money
to
outlook
1
are
industry
glad
The
profit
1962
or
Most
in the economy
No.
gins.
Food
TRADE and INDUSTRY
$3.66
increases should help profit mar¬
Output
Carloadings
5
.
■
6
(2070)
The Commercial and Financial Chronicle
Oklahoma
City
terminus
of
the
Turner
present
Turnpike
to
the
Larger Issues
•
Red
BY DONALD D;
River, north of Wichita Falls,
Texas. Of the remaining 50 miles,
20 miles are already open to traf¬
MACKEY
fic,
eight
miles
struction
The market for state and munici-
total
a
relatively
-
moderate
under
are
the
and
is
state
In
the following tabulations we > list the bond issues of
$1,000,000 or more for which specific sale dates have been set.
.
con¬
Nov. 9
legally
(Thursday)
Cedar
Rapids, Iowa
Hamden;'Connecticut
Nassau County, N. Y
Norfolk Co., Virginia
North East Ind. Sch. Dist., Texas-.
obliged to complete the remaining
22 ; miles by the time the toll road
pal
Thursday* November 9, 1961
;■.
.
1,000,000
1962-1980
4,075,000
1963-1981
13,797,000 -1962-1990
bonds, in a quiet but still amount. At. present the schedule
steady
further
trend,
improvedrfor the remainder of 1961 tallies is finished.
>
during the past week. Although at less than $425 million.
In this ;
The largest competitive sale of
Election Day interrupted this pe- respect it seems
pertinent to note the
past week involved $19,000,000
Southern Gloucester Co. Reg. HSD,
riod, and but few important new that a total of only $1.2 billion of
City of Philadelphia, Pa. (1963issues reached the
New
Jersey
market, good issues was voted on throughout 1987)
bonds -which sold
last
>
.
business in most recent
accounts
has
substantial
been
reported
of
amounts
offerings
have
investment.
the
issue
new
taken
The general bond market situation
was
improved
and
to
also
toned
the
up
entire
of
rate
this
regard.
Due
New
the
™rLentabws
to
;
perennially higher foreign interest
rate
structure,
it would
that
short-term
bill
other
Also
ciates.
the
twWi£
short
tend
1.50%
Index
■
*
,
Higher
rates
While
during
the
will;
there,
push
,,
n
f th
months
°he
rowed
funds by
rations
and
months
large
our
others
in
not!
0„
inventories
t^fal of state
bond offering? is
Dona
Unless state,
corporate, and mort-
municipal,
yield
whereas
seiected
of.
of
note
with
and
1
n c
members
u
'"yv 7':.-
d
of
Babylon
Oyster
&
p.m.
11:00
a.m.
1963-2001
11:00
a.m.
1,200,000
5,500,000
1962-1976
1962-1975
11:00
1:30
p.m.
•
6,
3,368,000
—
1962-1990
35,000,000.
Hampton, Va.
4,000,000
Irvine Ranch Water Dist., Calif—5,200,000
Maryland State R'oads:Comm., Md.
12,500,000
-
increase
in
indicated,
as
1063^1986
\
ers
continue to
for long-term borrow-
it
as
has
been
*
through most
from
not
Municipals
-
and
.
market
active
as
are
issues "of note to comment
" y
™
bond
issues.
This
and
The-authority
con-
accepted
a
pro-
of 42
by Merrill Lynch, Pierce, Fenner
& Smith Inc.,- Allen & Co., ftVnne,
to
the
in tax-exempt
the
tax
upward
trend
prices which
likely to persist.
more-obvious
of
banks
on
the
may
2'
Ya.n
^ .° • and k®0
OPPenkeim Jnr^°'L,?s 4 ^%.bonds
due July X> 200L The bonds were
be
assumption
will continue easy in
months
ahead
and
that tjie
problems confronting business
institutions,
will
not
as
be
well
as
offered
and
to
through
individuals
lessened
the
New
Not
The
Business
group
bonds
rpke
of
and
issue
from
an
Route
84.6 mile
which
100
and
a
Hutzler
construc-
the
ON
REPRESENTATIVE
SERIAL
ISSUES
1*--
California
(State)
Connecticut
3V2%
1978-1980
3%%
(State)
1980-1982
-
3.65%
3.50%
'3.35% i 3.25%
Jersey Highway Auth., Gtd.— 3%
1978-1980
York (State)
3%
1978-1979
3.25%
3.10%
3%%
1974-1975
3.10%
3.00%
3V8%
1978-1979
3.25%
3.10%
3V2%
1977-1980
3.20%
3.05%
New
Housing Auth.
(N. Y.,
Los Angeles, Calif—
N. Y.)
■
Mercantile
Trust
3.15%
a.m.
c',-,- .-■■V;v/.
—-
Kansas
City,
California.
Kansas
—-
Lower Penns
Stuart & Co. syndicate and scaled
to
yield from 1.50%
we
to 3.30%.
go to press a balance of
000 remains in account.
Randolph County, N, C.__
As
$600,h
i
.
Florida Turnpikes Expected
The
Ip December
markets
other
show
the
2
{
toll
issues
revenue
to
for
'
road
V.
at
was ;
|
con-5
Barnejj &
3.86%,
3.87%
--
It
is
million
a
reported
Florida
Sch. Dist.,
Mountain
aver¬
29
in
Cordova
average
.;
that
j
,
the
$155
Turnpike
December;
1964-1982
10:00
a.m.
Rec.
&
Park
Dist., Calif.
Noon
5:00
p.m.
2,320,000
—
1,420,000
Dec. 5
Florida
.
(Tuesday)
Turnpike Author., Fla
160,000,000
Georgia Ports Authority, Georgia
Cordova Park Dist., Calif.
Rancho
Salt
Lake
3.20%
Neyv Orleans, La
31/4%
Read &
1979
Chicago, 111.
New York City, N. Y._
'3.60%
3.45%
31/4%
1977
3.55%
3.40%
3%
1980
3.60%
3.55%
Court
Co., Inc. heads the
has
al¬
under¬
appears as
negotiated
offering close to market.
Dec. 6 (Wednesday)
Co., .Utah——
East
v
5,500,000
'
—
—:—:—
,
1963-1972
11:00
a.m.
Baton
.
■
d
Dec. 12 (Tuesday)
Rouge Parish,
.7,000,000
La
Los Angeles Co. Hosp. Dist., Calif.
1963-1992
5:00 p.m.
3,781,000
Pennsylvania State Public School
) ■ Bldg.
Authority, Pennsylvania.
type
\
1
9,500,000
1,200,000
The
3.35%
only. large
a.m.
(Friday)
County, Ariz
Au¬
consum¬
1980
the
11:00
[Negotiated sale to be handled by Dillon, Read & Co. syndicate.]
point.
writing syndicate. This
8:00 p.m.
...
1964-1988
2,212,000
Dec. 1
v
Supreme
p.m.
Noon
..
(Wednesday)
View, California
>
early
p.m.
8:00
1,276,000
Nov.
previous
thority financing may be
mated
8:00
(Tuesday),
:
Co.
week. The improvement was about
one-quarter of
1962-1972
1962-1990
4,000,000
Nov. 28
Dover Spec.
Delaware
Pima
This
the
Kent Co.,
and
have
Turnpike bond yield Index
out
i
•
,
improvement. On
Smith,
•
(Monday)
Washington——.
Seattle,
*•
'
27
V.'..-;
1966-2C01
1962-1986
1,750,000
—
Nov.
.
7:30 p.m.
.
314%
Ark.
The
Florida
November 8, 1961 Index=3.269
California—L
8:C0p.m.
-
1963-1974
Smith,
go! ' Garden Grove UHSD,
ready validated the issue. Dillon,
■
1964-2001
Twp. S. D., N. J
1,250,000
final
issue
of- this week Lower ..Southampton Mun. Auth.,
•
i n v-04-v-e d $2,350,000
Pennsylvania • a«riJ5,050.000
PlymouthCarver Regional School
MhAIlen Indep. Sch. Cist., Texas..
2,400,000
District,
30,000,000
Mass., serial (1902-1981): bords. < Ohio (State of)
This was bought by the
1,249,000
Halsey)": Orange, New Jersey
we;
balance
3.25%
-
5,500,000
—
1963-1973
1964-2001.
a.m.
As
no
3.50%
r-
11:00 a.m.
ll,:00a.m.
8:00 p.m.
8:00 p.m.
10:00
1987.
is
3.40%
;
a.m.
a.m.
11:00
in
there
.3.65%
•
11:00
11:00
1963-1986
3.45%
1980
.
p.m.
1962-2000
" .'••'Nov. 21 (Tuesday)
Baldwin Park USD.,
1:30
V
1965-1986
to
press
available.
1978-1980
—
1962-1991
,
4,700,000
University
L
3:00 p.m.
•
1,500,000
to
3V4%
—_
;
yield from 2.10% in;'" Fort
33/4%
Baltimore, Md
Cincinnati, Ohio
' Maricopa Co., Scottsdale SD, Ariz.
Wyoming, Michigan
a.m.
1,755,000
—
Illmois
-1964-2007
4,000,000
UHSD, California—
Kalamazoo, Michigan——
Manville Sch. Dist., N. J
Northern
p.m.
-
1963-1991
1,500,000
1963-1985
2)165,000 *1963-1976
1,235,000
1962-1986
Dorado
I.-.J
New
3.25%
and
Brothers
(Monday)
1:00
11:00
1962-1991
am.
yield
<
New
Pennsylvania (State)
Vermdnt (State)
Bank.:
El
20
l
p.m.
aged
MARKET
-
9:00
Nov.
Turnpike
•
2:00
tinued
from
-
1962-1986
portion; of the
extends
-
1984-1989
-
issues
'
1,198,000
1,500,000
1,090,000
1964
offering
the
134.6 mile Southwestern
sealed bid invitations continues to
Manhattan
Bank," Salomon
havings
sold,
proceec]s
tion of
at
upon
were
wil1 be used to finance
Volume
new
public
underwriters
celling
Excessive
calendar-
the
an the
may
very likely be increased.
Scheduled
an
Jfeld ^ Co-' Jobn Nuveen & Co.,
for
reasons
partly
money
underwriting -group
members managed iointly
bond
seems
interest
based
group
Co. Priced to
P°sal from
that
Chase
managed!
group
major
members Lof-; this
include
Harris
Trust. Si
&
contributed
this
The
Other
large
a
'
;
*
-
West Virginia
Charleston,
•
h
tinuing active interest has largely
The
by
to
awarded $56,500,000 of. Soutnwest-
an
appetite for good grade state
tendency
bonds
ern Turnpike Authority revenue
bonds on Thursday. Nov- 2-,
possess
{
-
.
avid
tor still
One
Wednesday, Nov. 8, saw the sale
.
view has of
$10,000,000
State of -Hawaii
this week asgeneral obligation
(1964 > 1981)'
?b°ut' A"er\?ight ^ars °* leSis"
,h*lgatl0"' and, negotiation
the
Week'sC Big
1961: These banks
bonds through
municipal
been
seven
-
particu-
larly the dealer banks, have been
heavy purchasers- of tax-exempt
appear
j30™*
underwriting
an
This
,
—
Nov.
,
in the weeks past but there
Buyers of
large banks,
municipal
f
r.;-..v.:..V'."
The
Awards
;
0f jggj
Banks Avid
Receiit
10:00 a.m.
*
.
v
far
money may
easy
Noon
1962-1981
1965-1991
10:00 a.m.
1962-1976 ; 11:00 a.m.
1963-1990
Noon
1966-1999 -10:00 a.m.
—
——
be
a.m.
•
—
as
11:00
__l_—
oiierings- is
as
reP°rted yesterday. A week ago (1963-1991) bonds sold to • the\ Omaha Public Power Dist., Neb.__ 17,000;000
greater
measure than current'the total ™aS $442,897,000. This Bankers Trust Co. group -as-3.40s, Salt Lake Co. Water Conser. Dist., ;
Utah
1,200,000
symptoms
indicate,
and
unless would
indicate that the week s Reoffering scale was from 1.75%'
consumer
spending soon appears n?w ifSje vo
Nov. 17 (Friday)
mfe ^as very well to 3.00%, with yesterday after¬
in greater
noon's balance
spontaneity than is now absorbed> even at rising prices.
$1,180,000. v
University of Washington—__—
3,000,000
demands
gase
a.m.
100,000,000
Georgia State Highway Auth., Ga.
*
a.m.
:;
(Wednesday)
UFSD
Bay
York—
New
a.m.
8:00
a
Nov. 15
this.
e
'
.
-^due
last " Thursday.
group
9:00
syndicate headed by Dillon, Read & G1"., Inc.;
Smith Inc.; W. H. Morton & Co. Inc., and
Allen & Company.]
•-
[Negotiated sale to be handled by
Lynch, Pierce, Fenner &
V:.!'
10:00
2,800,000
—
Merrill
;
Noon
■
Salem, Massachusetts
San Joaquin County,- Calif
Triborough Bridge & Tunnel
Authority, New York——
•:
1963-1980
a.m.
1,300,000 >1964-1998
N. C
Indianapolis Bond '
an
major
;i
-bonds
—
Co.,; Shearson, Hammill & Co. '
New Hampshire (State of)——; 16,415,000
Ingen: & Co: Priced!:
Oregon '(State of)
1—20,000,000
to yield from 2.15%,io
3.875%', the, -San Juan
USD, California-6,265^00
account, reports an unsold balance
Twin Falls Co. Class A S. D. 411;
-* :
of $2,375,000.
*
rj.;r :
Idaho
1,235,000
Last Thursdayfinal
^sale Lin-*
Lv
Nov.,16 (Thursday)
volved $2,500,000 Oyster Bay,.New('
2,000,000
York
Central
S c h 0 0 l ; District' '• Hempstead UFSD 6, New York—
munidpal
$453 069 06U
'
v'
11:00
20,000,000 ,1963-1989
1,048,000 >1963-1991
1,500,000
1963-1986
Angeles Flood Control D., Cal.
California
1962-1991
1962-1975
n, ;
-
-
Orange County,
press
"...
Dist., Georgia
Mun. Water Dist.,.
Orange Co. Waterworks Dist. N. 4,
&
about
annear
Los
for
the
Sch.
Okolona Sewer Const. Dist., Ky.__
be¬
made
Co.
Bay
7:00 p.m.
v
4,250,000
_ ——
California
>
p.m.
11,635,000
1,250,000
—
—,
a.m.
p.m.
(Tuesday)
aftd B. J. Van
1 inventories appear about
flanged in volume during he
interest rates.
is
Co.,
Humboldt
1962-
Merrill •-Lynch',
Pierce, : Fenner ;; &
Smith
Inc.,
Phelps, Fenn & Co., White, Weld
u
ahead, this should
appreciably
increase
long-
term
Other
t several weeks
aSstreet
six
period
due
were
$4,835,000
Share
group
o
corpo-
the
School
and
^1^3 269% onX^ame^fferfn^s
*
JmI
same oiierings
doubtless be
increase in demand for bor-
some
,
Amarillo, Texas
Buffalo, New York
Cobb
Township, Indi¬
Building Corporation
1964-1991 to
average
was
Lawrence
awarded
last week- This-is in..the pattern
ia
bonds
4.00%
,
ana
up
to
The
and
nnd.'
tn
to
also
and
time balance about $865,000.
Price
8:00
,
1963-1982
bonds, pointing out very viv¬
the competition involved in
industry. Reoffering scale is
our
.10:30 a.m.
1,000,000
1,310,000
14
Nov.
'
idly
10:G0a.m.
Winn Parish Sch. Dists., Louisiana
a
yield.
20 bids
1962-1986
a.m.
p.m.
r-'
1963-2000
coupon
This- issues
over
1968-1985
11:00
8:00
10:00
2:00
1,419,000
—
2001
1963-1984
1964-2001
,2,875,000
Thursday, Nov; 2, the
West ;;, Virginia : sold
of
7:30 p.m.
Neon
30,750,000
2,395,000
1,110,000
4,500,000
■
1986,.. about : University of North Carolina——
1986
to
a
syndicate headed by
Halsey,. Stuart- & Co.^nd asso¬
aS tittle
,„in
will
1%
4.60%
a
on
State
higher
XMe
lnriurh1gT7heSU;yeaf1futu0rrer0Wa"t
mfct
least,
in
maturity carried
$2,000,000, Road
Chronicle's M-year
toward
of
offered at,
and
^
the
seem
one-tenth
Present, it would
^
3.50%
sold. The 1987
of bond proposals in-
institutions
to
1962-1978
1962-1987
.....
p.m.
&
——
$9,266,000 of the bonds have been
purposes. HowJersey voters approved
mental
iands. Oji
.
.
in. 1963
nexf®"eek^f present ifwould
/It
this
1962, there is very little present
in
•
Bank- ,New
7:30
_
Noon-
Nov. 13 (Monday)
Bridge
-
Trust
cause
and certainly through much
evidence
State
close margin
constitutional
a
™ters' despite backing by the
Governor and his Administration.
Other proposals and their over-
'
late
pressures
New York
by
t h e
"
James
Ferry Authority, La
Delaware Twp. Sch. Dist., N. J
Hardin-Simmons University, Tex.
mar
as
v-'
1962-1981
1962-1985
1,630,000
4,945,000
Co., Harriman Ripley
Kidder, Peabody & Co., i Lakeland, Florida—
Eastmdn? Dillon, Union Securities Lompoc School District,; Calif
& -Co. and Ladenburg, Thalmann North
St. ,Paul-Maplewood
Ind.
& Co; Scaled to yield from 1.65% ;
Sch. Dist. No. 622, Minnesota—_
hand,
$61,655,000 of state bond proposals
were
rejected by North Carolina
Change Foreseen in
interest
State.
refused
York
.'"Si
Ascension-St.
a.m.
1,000,000
1,000,000
Vineland, N. J._
.was
Chemical
were
&.Co<,
concerned
park
Although the bond market will
likely be exposed to some higher
year,
proposals
$ioo'million
bond
Long-Terra Kates
jors
volving
market.
No
1960.
approve v
-
ever
refunding not only
Treasury market but
the
on
despite the good
substantial
a
approval
amendments involving bond issues
pleased. This splendid disposal of
helped
Day,
New York
unusually
obviously
were
for
up
bond
voters
2V2s
maturing^Nov. * 13» In
niakmg an attractive three-way
to
the
0f
ury
catered,
hattan Bank and included
billion
of this year's total, $650 million
the
Treasury s apt program, for refunding about $7 billion of Treas-
were
Thursday. This issue
bought
in very competitive bidding by a
group headed by The Chase Man¬
Election
offering, investors
Day, 1961.
$3.7
for
through
Election
on
This is reported to be less than
one-third of the record total of
and
secondary
been
nation
10:00
Noon i;
Noon
Dec. 13
Los
Angeles,
Calif.—-..
25,000,000
—
•
(Wednesday)
16,000,000
_____—
—
Volume
194
Number
Commercial and Financial Chronicle
The
6106
Now Citizens Securities;
Columbia Will
HOUSTON,
Sponsor Awards
To; Management
Edward
Lamb, Toledo
of
name
Texas
tributors,
firm
Funds
Standard:
Dis-
3520
Inc.,
^^nce: of her 50 years 0f Seminar
-
The
---
Miss
head
Montrose?
0f
Blvd*,,has been changed*to Citi
zen, Securities-Corporation.
Industrialist,
(2071)
Cavanagh, now the firm's
telephone operator,, is one
senior
the
mg
with
to
-
■
i
Seminar will be; in New York
"TV
.AmeriCait IHiailCe!
for
program
awards* to, private
Orvis
annual
giving
businessmen;
Bros.
years.-,
Honors
r
:
-
the
New
York
Stock
The
'
'
0
,
■
.
.
Graduate School
.......
.
Columbia
of
University
dinner
series of annual awards^ car's
private businessmen for excel,
Delmonico"'
sponsor a
to
„
lence
A
.
. .
.
+°* pl^ns to'reP©at the Seminar
sPrin§-
:
.
n
Cfnw_„c
o
^towers; orancn
BEVERLY HILLS, Calif.
United; States. The
tions of the
\ ' . v
4
of Pauline Farrell.
,•
•.
The
announce-
n/t.
November 3, 1961
III
New Issue
v.-.;.;*
$19,000,000
was
made recently
b y.
D
e
n
a
'
C.
Courtney
Brown.
'
The
awards,
with
together
f
llowships
e
Cityh ofPhiladelphia,Pennsylvania
at;
for.
study
the
School,
:
be
to
are
known
The
as
41/2%f 3.10%, 31A%/ 3.40%, 31/2% and-1/10% Bonds A
Edward Lamb
Awards
Edward Lamb
for
in
FxceFence'
The
Management.
financed1 from
be
•
.
set
fund
Mr.
-
•
V
.
.
•
Industries, Inc., and
am active
participant in some 30 American
corporations, established.the fund
accord
<Jto
public/ recognition-
RATES AND, YIELDS
played* by private business man?.
agement
in
the
Ameri.ca>n
economy-".
•
OR PRICES
•
Includes
A1'!
h
\v(tl (Tfo
yum
Due $760,000 each January 1
addition tq>ihe awards,-, for
management,,-'the program 'prhr
,o4yf/o"
i%3
In
given
;
.
1967
1962.
spirit
of
Brown
1969
1970
1971
In
Awards
is
tion
our
times very much" the
>
position that- other, institutions of society occupied in
rC
•
?
Y
i-
Its proper." man¬
agement, is/ vital, not simple be¬
cause of the resulting abundance,
y
but
additionally because of the
past; centuries.
'profound influence a corporation
has on all phases of contemporary
life
cultural and political, a5!
well
as
economic.
The Edward
Lamb
Award
for Excellence
in
1
.
V
Excellence in Management
who-has
scene
made
•
committee
of
,
act
judges.
as
3.40
3,35:;
3.40
3.40
Ira
thatv,
outstanding
for
in
out
Dean
awards.
•the
Italy,
and
hope
excellence
sored;
,
by
that
in
have
:
•'
3%:
'■
be issued for-various municipal improve-
1/10
.
constitute valid and
City of Philadel-be obligated to levy
the taxable property, including ...
ad valorem, taxes- upon
real property,
therein without limitation as to rate or
to pay the principal of the bonds when
sufficient
due and the interest
thereon.
offered when,
The above Bonds are
4.60%,
as
and if issued and received by us, and
legality by Messrs. Townsend,
Kalish,
Kohn & Dilks, Attorneys, Philadelphia, Pennsylvania.
subject to prior sale and approval of
Elliott & Munson,
*
and Messrs. Dilworth, Pax son,
Chemical Bank New York Trusl Company
-
Harriman
Ripley & Co.
Incorporated
Ladenburg, Thalmann & Co.
Easlman Billon, Union Securities A Co.
>
A. G. Becker & Co.
F. Si Mo
Seattle-First National Bank
Incorporated
Haupl A Co.
Yarnall, Biddle A Co.
my-
Goodbody A Co.;
Auchincloss, Parker A Redpalh
Ernst &
Company
WellsSChnsleiisan King,
lucjtvora.ed
Incorpora.eJ
Robinson-Humphrey Company, Inc. ttailoweit Sulzberger, bn!,s, Kirkland A Co.
Bums, Corbeft A Pickard, Inc.
awards-
these
management
Columbia
r
gap
scene.
-■
u
Robert Yf.Baird A Coi
A. G. Edwarts A Si
B'ewer, Glynn A Co.
Rowles, Winston A Co.
Suj !ee, Yealman, Mosley Co.
Incorpora.eJ-
The Peoples
National Bank
,
.
•
•
Barret, fitch, North A Co.
Incorporated
of Charlot/esville, Va.
Incorporated
for
...
spon-
Newburger A Company- Robert L
on
time r ,;
the"
hi
Whiltaker A Co.
Haroid E. Wosd A Company Shaughnsss/ A Company,. Inc.. .
,,
Graduate,
heip
fill/, this
Chaplin, McGuiness A Co.
.'
expressed
Brown
will' irr
/American
.v..... •••/;•■>
legally binding general obligations of the
@ 100
{ The Chase Manhattan Bank
The
of.
systems
SchtJoL of- Business
to
..
menagement: Re¬
that
den,
;:r
3:45%
Baxter A Company
-given other, professional
accomplishments. Other countries,
xincluding England; France., Swe¬
to
Pennsylvania
■
in the opinion of counsel will
amount,
•.
public acc^im comparable
serves
;
@ 100
Federation Bank and Trust Company
opinion i will
pointed
recognition
achievement
'/ '
.
,,
Brown
Dean;
...
a
outstanding-
six;
leaders; of American
.
phia, Pennsylvania, and the City will
•
3.30%.
contribution
-
-
@-100
3.40
management in its several phases.
.:A
@ 100/
m
,
ments,
*y
v
to. the
advancement of knowledge about
;conspicuous
'These Bonds, to
-3.00
Kidder, Peabody A Co.
will:be
January to an executive on . the
American
A,-;'/'
;
and Trust Funds
■
presented annually at a luncheon
in
'
*
.
f^r y
Award
Lamb
Edward
The
•
taxes-the City of
\
^
■
(Accrued interest to be added)
:
•/..
'/
in New York State and
■:
1982-83
•
law ofthe Commonwealth of
Legal Investment for Savings Banks
•,
1980-81-
1987
;
Annual Presentation
'''
*
:•/ 3.20%
■
1979
;
present or future
Philadelphia assumes and agrees to pay.
r
•
of all of these ob,
y310
.
1976-77
i
Management should contribute to
the* encouragement, of leadership
the service
•
"1978
.
any
Pennsylvania, the payment of which
.
3.10-
1984-86
—
in
■
■
1.975:
i
K
.dominant
jectives." y.'• y-Ay
1974
A;
"The corpora¬
that occii-
institution
an
pies in
:i'v
Fellowshins,
and
Brown "said,
Dean
1972:
:
•'1973
the "" Edward
announcing
"Lamb
//A
States.
United
the
to
•
-
for study of business:management
h;"f;
.
1968
?
thesthree fellowships each year,y
'depending on availabilities,.would '
be awarded to a foreign student "
in
interchangeable, without cost.
are
/Payable without'deduction for any tax or taxes {except* gift,
cession or, inheritance taxes) which may be levied pursuant
\
:
2.25
4V2; 2.40
n 4'/2
2.50
41/2
2.60
m
.2.70/
41/2 , /
2.80
m ■
2.90
4%
3.00
41/2 :
1966
In keeping with the
the
program,
Dean
said that one or more of "
term*
bonds
and/coupon
.
1.65%
y 2.00
; 4-y2
1965
;
..
for study 'at ytiie
Columbia- Graduate
School;; of
Business starting with the spring
be
to
1964*:
..
fellowships
vides for three annual
thereafter
Jply./l) payable- in Philadelphia atrThe Philadelphia
uU'i
Fellowships
■
;
and
AMOUNTS, MATURITIES*
role
the
to.
on January 1
National Bank,
Coupon" bonds in denomination of $1,000; registrable., as to principal
only or as to both principal and interest in denomination of.
.$1,000 or any whole multiple thereof. Fully registered;
Principal and. interest (July 1, 1962 and semi-annually
greater •measurq- of
a
January 1, 1963-87, incl.
Exempt from present Federal Income Taxes
Interest
.
Chairman of Lawb
Lamb,
Due
Dated December 1, 1961
up
indus¬
by Edward Lamb, Toledo
trialist;
will;
program
a
-
•'
McDonald-Moore A Co.;
—
stowers & Company has opened
ganizea program oi study ot .tne a branch. office at 9606 Santa
financial practices and institu- Monica Blvd., under the direction
,
(
^ programris believed to be
in mair
agement.
m.e
sanized Droffram oT -tudv of thP
1911, was tendered: a, with offices at" 1016- Marquette
by the firm Nov. 3 at Os- Avenue to engage in a securities
restaurant
in business.
•
- :
Oct; 15,
0n
i l l
w
Company has. been formed
vestment firm of Orvis Brothers hardt
.
„
of Business
dally
e
,
and
wlth
15>
?•
,hnvest""
oie,? banking held. Smith Barney
Exchange,
,
mu
Dec'
Smith, Barney & Co., 20 Broad '+i
St., New York City, members of
'
Club," number-
35" members who have been
the. firm for 25 , or more
have announced that the firm has.
established
an
intensive
fiveMiss- Marcella E. Cavanagh who * - Eberhardt Co., Formed : ; ;week. "Seminar, on American Fifor fellowships, for study at thai Colum¬
started
to work
as
a
telephone
•
v
;
;• ;
/ nance for its international clients
bia Graduate School: of Business*
operator for the Wall Street in-,MINNEAPOLIS, Minn. — Eber- to:-make/available to them an or-
financa
thrnnoH^ nIC'en<ia'r0m-»i^01a P
of1 Orvis-
members
Brothers". "Honor
on
A
7
Rolan, Mos!e A Co.
Milburn, Cochran A Company
Incorporated
8
The Commercial and Financial Chronicle
(2072)
Averages, both as to yield and
performance over a 23year period — National Quotation
Bureau,
Inc., 46 Front Street,
DEALER-BROKER
INVESTMENT LITERATURE
FIRMS
PARTIES
INTERESTED
SEND
TO
THE
THAT
UNDERSTOOD
IS
FOLLOWING
THE
Bonds
25 Broad
Dresdner
Bear,
Memorandum
—
outlook
Colket
&
Co.,
York
Growth
,
.
t.
,
Goals
.
Detailed
—
I.
du
Co., 1 Wall St., New York
5, N. Y.
Industry—R e p o r t—
Beryllium
61
Ltd..
Broadway, New York 6,
N. Y.
and
Market
Yamaichi
Securities
Review
—
of
Co.
New
Inc., Ill Broadway, New
York 6, N. Y. Also available is an
analysis
of
Morinaga
Confec¬
tionery Co. Ltd.
ture
York
Corp., Brush Beryllium Company,
Japanese Stocks
Corp., and United
Resources
eral
Technical Industries.
investors
Canadian
Co.,
Market
Review
—
—
Equitable Securities Canada Ltd.,
60
Yonge St., Toronto 1, Ont.,
Securities—Data
Canadian
15
on
Japan — New
York office 25 Broad Street, New
York 4, N. Y.
issues—Annett
selected
Partners
St.,
Toronto,
Limited,
220
Bay
Canada.
Marrud,
Rate
Tax
Locked-In
Revenues
Stock
its
and
impact
Capital
—
Report
Federal
York
and
—
on
New
Exchange, 11 Wall St., New
York 5,
N. Y.
Utilities
Electric
—
way,
&
Shares—Survey
&
McKinnon,
Broadway, New York 4, N. Y.
Freeze
Dried
Foods
issue
current
2
and Gateway
4, N. Y.
Third
New
City
York
Stocks—
Bank
Statistics
Quarter
Bissell
City
Ten
on
Laird,
Broadway,
Banks
&
Meeds, 120
New York 5, N. Y.
Oceanography
—
Se¬
&
the
York
current
Reader"
"Investor's
Pierce,
Lynch,
of
discussions
Merrill
& Smith
St., New
Arkansas
of
Louisiana
120
Natomas Co., Prophet
In
the
same
Thermo
issue
are
reviews of
Electricity, Fiber Optics,
Semiconductor Industry and Drug
Industry.
ports
Also
Burndy
on
Palmolive
and
available
are
Colgate-
Corp.,
Halliburton
Co.,
re¬
Co.
Koppers Co.
Gems,
Bearing,
Fafnir
Co., Screen
Yardley & Co.,
and
Inc.
Over-the-Counter
stocks
Index
St.,
Folder
listed
industrial
the
in
the
the
and
industrial
Purcell
Dow-Jones
35
over-the-
stocks used
in
^
YOTk 4
N
Conine
iv"
-
Frinko
Rr
Fricke
& Mass. Also available
Texa^ Papifip
°
C°a
*
8S
t y
rr
New York 5
is
Y
N
analysis
Service
five
Common
..
v
lowa
Iltilitv
Memoran-
_
York^
York 5,
PW
St.,-New
Alpha
Public
Corp.
Portland
N.
5
N
Sm
unve
bt.,
n/r
T
St.
,
Memorandum—
i0',i\/rnC''
i
n
Louis
1, Mo.
Amerada
Petroleum
current
Investment
ci3
i°n,e
a?11'
St.,
New
the
—
4,
issue
in
Letter
N
S
in
Also
available
jnc
n.
*
39
For
Quotation
banks, brokers and financial institutions
New York 4,
reviews
are
^interest in the securities of Small Business
inquiries
view
Refining
Also
Company—Re-
Newburger & Co., 1401
St., Philadelphia 2, Pa.
—
Walnut
available
discussions
are
of
Electronics
Phillips
Petroleum,
Florida
Franklin
Growth
Capital, Inc.
Gulf Southwest
Marine
Corp.
Mid-States Business
Midland
American
Davidson
—
I
fs
a
report
port
Co., 25 Ade¬
Toronto,
Ont.,
Corp.—Bulletin—Hill,
N
Also
available
Bowi-Mor
on
Y
Company
Pacific
Peter
—
Plywood
Morgan
Manhattan
ivi«nnattan
Chase
unase
er
—
&
Re¬
Co.,
Pla7a
1
New
t^iaza,
Laboratories
^
De Witt
tion,
Inc.,
York
660
La
—
Lewis
Business
Chart
Tucson
Unilever
New
Conklin
Inc.—Bui0
Organiza-
&
Hopwood,
Street,
.
115
Minne-
Memoran-
—
ley Stores.
Company—Bulletin—
Shearson, Hammill & Co., 14 Wall
Street, New York 5, N. Y.
Also
is
review
a
Broadway,
New
Wesco
of
Financial Corporation.
7616 Girard
^
Planning for Retirement
tin—Butler,
7fi
'""-H
—
Bulle¬
Herrick & Marshall,
Thirfv
n
Avenue
cPvpnfh
lnirty - seventn Avenue,
Heights 72, N. Y.
Jackson
Po^er
IP.* f Canada^Memo
randum—Dattels & Co., Ltd., 47
.
Review
Also
illustrating interesting relative
percentages is available
*
—
Broadway,
*Water Industries Capital Corp.
Our Brief
Crowell-Collier
Q"Jg c^re^'
on
request.
Pros pectus on request
New
available
York
is
a
Corporation
f
.
.
cf
'
Cyprus
Mines
St.
N.
Y.
—Memorandum—Wm.
review
of
meyer
Corporation
—
Ammonia
Products,
H.
Inc.
Tegt-
& Co., 105 South La Salle
Street, Chicago 3, 111.
Saskatchewan
—
Bulletin
on
in-
dustrial development—^askatch0-
South
wan
Spring St., Los Angeles 13,
'
Calif.
Dolomite
Members New York Security Dealers Association
Re-
Paul
port—Bateman, Eichler & Co., 453
Gfass
Fibres
Ine
licypmite u.ass tiores, inc.
Troster, Singer & Co.
-George, ONeill & Co., Inm, -0
Broad Street, New York 4, N. Y.
DWG Cigar Corp.
port
Genesee
Vslley
"
Re
-Ke
Securities
Co., Inc.,
1516 Locust
Philadelphia 2, Pa.
Western
Nuclear
—
Street,
Memorandum
fice,
Industrial
Development
Cornwall
1819
St.,
Of-
Regina,
Sask-> Canada.
Se&lrig'lit
The Security
I Like Best
-
Oswego*, F&lls Corp.
,,
10%
cents
wejj
jook
in
dividend
end
this
forward
declarations
of this year.
tract
closings
year
stock
and
25
Stockholders may
;n cash.
to
further
before
the
Additional con-
should
take
place
that should further in-
crease earnings for 1961.
It is
indeed most unusual to find the
stock of so successful a company
benefiting fropi so gifted a man-
agement, selling at roughly five
times
indicated
in^s per shsre/
Douglas Microwave Co.—Analysis
J.' R.
Williston &
Beane, 2
Security
cite
Co.
as a
Columbian Bank Note
Analysiis—Hooker «& Fay,
...
,
■
Report—Cohen, Simonson & Co.,
25 Broad St., New York 4, N. Y.
—
.
..
»
,,
.
Co., Inc., Powers Bldg., Rochester
14, N. Y.
—
America—
theiiisthalfof this year were
®Bf,7
tM? S»r
tc e
65
6,
of
America—
est'
—
&
Co.
Charles A. Taggart &
—
Qon^inue$ from page 2
J.
; :
are
now
traded in the Overthe-Counter
Market
at
about
810.50 -,
oer share. Net earnings for
Kitehener
West
Co.,
Publishing Co.
Fahnestock
Survey
totalling
Qfrppt
x^;np.
..
'
'
Capital
Company
Tobacco
E Herrman & Company, 26
Peter PanI Inc.—Memorandum— Broadway, New York 4, N. Y.
Sa"icraft
Texas
Inc.—Memorandum
_H
cfsco^°nc?lif.ery St" San Fran"
^
&
New
Broadway,
Tube
Welded
Pepsi-Cola
dum—Pacific Coast Securities Co.,
Southeastern Capital Corp.
Letter"—Carreau
States
united
Narragansett Capital Corp.
Techno Fund, Inc.
Discussion in current
115
dim}
Report—A. M. Kidder & Co., Inc.,
l Wall Street, New York 5, N. Y.
Science Capital Corp.
&
F.
tries, Inc.
Thermador
St. Louis
i
L.
—
—Dempsey-Tegeler & Co., Irfic.,
1000 Locust St., St. Louis 1, Mo.
Also available is a special report
on
Capital for Technical Indus-
apolis 2, Minn.
5, N. Y.
120
Crompton & Knowles—Memoran-
Capital Corp.
—
"Investment
Company,
Memorandum—
Seventh
Analysis
—
Rothschild & Co., 120 Broadway,
5, N. Y.
°hlo.
Jaffray
2,
New York
a
Forms—Analysis
—
Light
Electric
Gas,
Co.
Power
—William T. Robbins & Co., Inc., York 6, N. Y.
Terminal Tower, Cleveland 13, United Foods
Trust
Denver
Tuboscope Company—Analysis—
Glore, Forgan & Co., 45 Wall St.,
New York 5, N. Y.
Salle
Sulphur
St.,
Seventeenth
Colo.
and Company In-
4, N. Y. Also available is
Radio
Corp.
worth, Sullivan & Company, Inc.,
Corporation
& Redpath, 2 Broadway, New
York
5, N. Y.
Carrtone
w-
Cap. Corp.
Parts
memorandum—Auchincloss,Park-
available
Brunswick
letin
Capital Corp.
Minnesota Scientific
Oil—Memoran¬
&
West,
St.,
York
Capital Corp.
u
__
Carolina
Washington Ind. Inv. Inc.
o
4.
t->
Morgan & Co., 634 South —Analysis—Newburger, Loeb &
randum—White, Weld & Co., 20 Spring Street, Los Angeles 14, q0
15 Broad Street, New York
Broad St., New York 5, N. Y.
Calif.
5^ ^ y.
Bramalea Consolidated
Develop- Northrop Corp.—Data—Robert W. v~
Tndllstrips
Analvsis—M
rneiits—Report—Shields & Co., 44 Baird & Co., 110 East Wisconsin
Ms»
Anaiys^M.
Wall St., New York 5, N. Y. Also Ave-> Milwaukee
1, Wis.
Also
s
New York 5
N Y.
available is a survey if the Rails, available are data on ACF Wrig- Ilam street- New York/• ^
Inc.
Corporation
Lauglilin.
corporated, 135 South
St., Chicago 3, 111.
Norris
Publishing Co.—Memo-
New York 4
Corp. of N. J.
Capital Corp.
Greater
and
Whirlpool Corp.
Darlington & Grimm 2 Broadwav
Electro-Science
First Small Bus. Inv.
Penn
Canada.
Capital Corp.
&
International
South
North
Y.
^
Piper,
Corp.,
N
4
Gas
laide
Capital for Technical Ind., Inc.
4.
International Minerals & Chem- Suburban Gas—Report—Schweicical Corp.—Survey—Abraham & kart & Co., 29 Broadway, New
Co., 120 Broadway, New York 5, York 6, N. Y.
N" Y> A1so available is a survey Texota Oil—Memorandum—Bos-
Mesabi
dum
Capital Corp.
Eusiness Funds, Inc.
Co.,
York
—
of stocks for Income.
*
Bemis Bros. Bag & Paper, Martin-
British
Boston
&
New
Analysis
—
Stokely-Van Camp Inc.—Analysis
—Eisele & King, Libaire, Scout
& Co., 50 Broadway, New York
iw" Cyanamid and bulletin on Dover Corporation and
National Fuel Gas.
rrnwJl
Blue List
invited.
Stokely-Van Camp
..
Investment Corporations is currently more active.
Below is a list in which we specialize. Block
are
Pitfield
St.,
reports
are
could rebound from tax selling,
ro
Crowell-Collier.
Atlantic
Co.,
.
SBIC's
Public
Bureau
C.
Broad
available
Siegler Corp. and Fred Meyer,
and a list of stocks which
Y.
V
Co., Philadelphia Suburban Water
National
Broad
list
jefferson Lake
Can—Review—Hirsch
?? ®road
Y.
67
.
Broad H. M. Byllesby
Also
Y.
Loews Theatres and Avco Corp.
American
Bache & Co., 36 Wall St., New
York 5, N. Y. Also available is a
Co.,
(Midas Muffler Shops)—Report—
discussions of
are
on
0f j0nes
Review
a
York
same
Also
Study—W.
Cement—Memo-
—
74
Y.
&
Industrial Acceptance Corp., Ltd.
Y
'
'
'
Amerace Corp.
Stevens & Company, Inc.—
J- p
Industries—Analysis—Gol-
Bomback
Artists.
v°''
Y.
N
randum—Hornblower & Weeks, 1
Chase
Manhattan
Plaza,
New
York
0l1,
,
randa on Fresnillo, B. F. Goodrich, P. Lorillard and United
Publie
comoara-
*
..
Stores.
on
4, N. Y.
^elene Curtis Industries—Memorandum ~ Oppenheimer, Neu &
Co" 120 Broadway, New York 5,
N' Y' Also available are. memo-
stocks
,
report
a
&r
Report—Walston & Co., Inc.,
Wall Street, New York 5, N.
kin,
.
available
and
on
Reduction
Air
of
°J Anelex C'rP" Midland Ross
Corp.
and
Kings
Department
Boston,
is
wi'«' St-
Also
Company
figures
Hayes
*
„
St.,
on
Marietta
the.
State
Mover
*
'
..Mass. Also available are surveys''
Mo^r
.
.
,
Standard Oil of New Jersey—Survey-Schirmer, Atherton & Co.,
Congress Street, Boston 3,
Y' NeW
;
9?
Publications,
Periodical
tive peroen'ages- Troster Slinger
& Co 74 Tnmty Place, New
MBroad wa v
*
Also V
poration—Brief illustrating rela-
RnlWin
Y
*
>'
.
Memorandum
Develooment
Y.
N.
reviews of Playskool
are
Sma11. Business Investment Cor-
In^
General
City,
Garden
tional
Restaurants-Analysissirota> Xaylor & Co->
26
Broadway, New York 4, N. Y.
New
.
_
Parks
Frisch.s
French, Inc., 123 South Brosd. St.,
Philadelphia 9, Pa.
compari¬
used
counter
—
up-to-date
an
between
son
Pine
Y,
Wood pork
N.
Averages
Japanese Electronics Industry —
Analysis—Nomura Securities Co.,
Gas,
Ltd.
showing
N
Toy Industry
issue
the same issue
5, N. Y. In
are
—
Fenner
70 Pine
curities"—
Harris, Upham & Co.,
Broadway,' New York 5, N. Y.
various
80
Everett
on
.
Discussion
—
water—In
of
5,
Broad
York
New
Co.,
New York
Co., 8 Hanover St.,
Incorporated,
Report in
—
"Science
of
Banner
Sporting Goods—Hemphill, Noyes
the
Thomson
to
Industries,
possible economic resources under
New York 5, N. Y.
Fire
—
—
Memorandum
—J. W. Sparks & Co., 130 Broad¬
Casualty
Operators
reference
Rockower Brothers,
&
Effects of Reducing Capital Gains
particular
tlflC' Instrument Co.
Industries—
G.
—
Road,
available
Witter & Co., 45 Montgomery St.,
cate-h San Francisco 6 Calif
Tokyo,
Department
With
&
The Nikko Securities
—
Ltd.,
Leased
Canada.
Handbook for
—
investment, containing 20 essen¬
tial points for stock traders and
Rudd Melikian and Gerber Scien-
depressed, cyclical or vencapital classification-Sutro
Bros.
Fed¬
Manufacturing
Co.,
American
Photocopy Equipment Co., Na-
in
sues
Securities Co., Ltd., 149 Broadway,
New York 6, N. Y.
Corp.,
&
Selected Stocks—Discussion of is-
Japanese Market—Survey—Daiwa
Beryllium
in
gories-Sartorius & Co 39 Broadway, New York 6, N. Y.
.
Troster, Singer & Co., 74 Trinity
Place, New York 6, N. Y. With
particular reference to Beryllium
Standard
issues
Slater Electric Inc.—Report—De
Mott Associates, 600 Old Country
Co., Inc., 52 Broadway, New York
4, N. Y.
industry—Globus, Inc., 660
Avenue, New York 21,
several
York,
Bank—Memorandum—
Stearns
Analysis
Y-
N
Inc., 221 Montgomery Street, San
Francisco 4, Calif. Also available
is a report on Stokely-Van Camp
'nc*
Electromagnetic
Analysis of the
companies engaged
—
Selected Securities—Brief data
Japanese
report—Francis
analytical
Pont &
-
St., New
Pine
70
5, N.„Y.
Bank
Penington,
—
Y.
of
& Co., 1 Wall St.,
5, N. Y. Also available
are memoranda on Deutsche Bank
and Commerzbank.
Madison
Review
—
4, N.
analyses
New York
—
St., New York 4, N. Y.
Refrigeration
in the
Airlines
York
are
Dravo Corporation and Garan Inc.
Paine, Webber, Jackson & Curtis,
LITERATURE:
New
available
Thursday, November 9, 1961
.
Friden Inc.—Memorandum—Dean
Rail
WILL BE PLEASED
MENTIONED
Also
New York 4, N. Y.
AND RECOMMENDATIONS
IT
Broadway,
market
.
,
1961
As
3.
net earnunicjue- resl
estate equity ivith exciting future
potentials for market gain, we
Transnation Realty common
security we like best.
Volume
194
Number
6106
.
.
The Commercial and Financial Chronicle
.
incomes
British Bank Rate Cut
s
costs
Jeopardizes Sterling
Dr.
the
Bank
recent
Einzig forebodingly
adverse balance of
cut
rate
predicts
within
in the E. C. M.
will
resume,
to
and
rise,
American Disapproval
If
imports.
L.
The
to
the
perennial trade deficit will
both
within
of
abroad—whether the U. K. is
or
lenders
are
abroad.
depressing
very
Even
But
Britain's
for
run,
serve
to help the American dollar. Further, he fears
Prime Minister, not his Treasurer, is an idealistic opponent
only difference it would make is
there are other ways
that the
to
action that causes unemployment and thus
lip service to a hard money policy.
any
that
change
it
Britain to
will give only
money
chance,
constitutional
British
under
For
practice, the Prime Minister of the
day, after listening patiently to
the views expressed by his Ministers on
winds up
strong views,
holds
he
subjects on which
some
traditional
formula:—-VI take it we are agreed
that ..." and announces his perthe discussion with the
decision
sonal
Cabinet's
the
as
if
decision even
overwhelming
majority
collective
the
other
the
On
fundamental.
is
hand, the Chancellor of the Ex¬
chequer, Mr. Lloyd, may safely
be assumed to have been opposed
bank
another
to
is bound to make
rate cut which
it politically and
all
him
to
tasteful
forced
be
to
overvalued, the flow of funds will
continue unabated. The way to
check it would have been to
widen the premium on forward
dollars, thereby making unprofitable to transfer funds from New
York or to use Euro-dollars for
swapping into sterling. Another
way would have been, to repay the
whole of the International Monetary Fund credit, retaining part
of it as stand-by credits^The resuiting fall m the published gold
reserve would have
effectively discouraged the influx
dollar
and
Bank
rate
within
a
Trade Union leaders
month,
no
will be able
persuade the rank and file to
or moderate their
demand
to
defer
for
higher
hours.
In
wages
and
shorter
such circumstances the
to
newly-ap¬
His
again.
Germany
living
disap-
which
sliding into the
on
capital
would
the true interests of Britain
the adoption of a policy to
increase the real inherent strength
of sterling would serve the in-
for
terests of the
or
C., the
meeting the
import surplus.
capital
because
for
assets.
might
to
it
share
United
would
with
States
enable
them
the
of upholding international
too
Britain
burden
mone-
Howard
which
British
people
make
The
conscious
shown
for
need
of
its
by
the
ease
shock
a
with
is
public
opinion has acgovernment's
claim
the measures of July
sterling's position has improved.
that
the
since
In fact all that happened was that
Cor-
everybody,
people prefer not to
time
some
eration
or
op¬
similar "improvement"
sigh
of
ment's
a
BRONX,
a
Inc.
in future,
similar way,
relief
new
over
success
really
unpleasant
would
be
achieve
a
are
in
in
256th
a
J.
avoiding
being sold
or
N.
Y.—Kordan
engaging
St.
in
a
tional
&
Co.,
securities
offices at 630 West
Officers
and
retired
formerly
who
Thorneycroft,
1958
predecessor,
his
that
because
he
pursuing
from
are
Ellzabeth> New Jersey.
Jacob
Levine,
Secretary-Treasurer,
Mr. Levine was formerly syndi-
to
cate manager for J. A. Winston &
Co., Inc.
J. C. Wheat Branch
ROCKY
Wheat &
branch
MOUNT, ™ N. C. — J. C.
Company has opened a
office
at
under the
Jesse O. Bishop.
St.,
126
Departments
Spending
November 9, 1961
300,000 Common Shares
Company of America
...
($1 Par Value)
were
probably releived to see that the
era of austerity was drawing near
its
conclusion.
Sees
It
Inflation Unleashed
Wage
is
true,
statements
official
reaffirmed that the credit squeeze
continue.
would
ture
reduction
But
rise
gives
naturally
lip
are
service
>
This announcement constitutes neither an
industrial firms are
anxious not to miss their chance
of
benefiting
by
the "/resulting
expansion. For that reason they.,
pected,
will
and
not
risk
losing
their
out
holding
by
scope
;
to resume its
•'... V;.
A/"':•:... • • <' • ;
•
Incorporated
appearing in the press,
the reason for the Bank rate reductionis that, the ^British Gov-
Eastman
■
Blyth & Co., Inc.
Glore, Forgan & Co.
>
•
Stone & Webster Securities
Dillon, Union Securities & Co.
Goldman, Sachs & Co.
Corporation
Hornblower & Weeks
White, Weld & Co.
Incorporated
•
' '•
'ft According to officially-inspired
statements
from such of
Smith, Barney & Co.
for
the, circumstance
course.
solicitation of an offer to buy these securities. The
man
they really want to
is
nor a
to
get, there
compromises on a
fifty-fifty basis, and wage infla- •
tion will proceed unabated. It is
| true, for the first time last month
'the number of vacancies fell below that of the number of un¬
employed. But before very long
overfull employment is certain in
as
offer to sell
offering is made only by the Prospectus, copies of which may be obtained in any State
the undersigned as may lawfully offer these securities in such State.
wage
demands. Since the Trade Unions
have
demanded twice.. as much
power
Share
doubts
to
to hard
money policy. Yet another cut in
the Bank rate is now widely exthan
more
Price $57 per
prema¬
statements
these
whether
the
the Bank rate
of
-
•
Shelby Cullom Davis & Co. Hayden, Stone & Co.
North
Main
management
proposed for sale in the State of New York.
Combined Insurance
Chief
Fundamental Investors, Inc.,
was
a
Board
City Bank of New York, is
Mr.
policy, is of course on Mr. Lloyd's
side. But the heads of most of the
of;
Director in several corporations
Chairman
of
the Board
of
.
resigned in
prevented
firm enough
Girl,
and
pointed
assume
the
States
elected to the Board
Sheperd,
Chairman
NOT A NEW ISSUE
second-in-command, Mr.
Brooke, Chief Secretary to the
Treasury, too, must have been on
his side, and it is reasonable to
was
of
United
Executive Officer of the First Na¬
that
order
the
Levine, President, and Constance
improvement.
not
is
business from
govern-
measures
necessary
real
the
with
McKeo
Health and Welfare Retire-
Mr.
a
in all probability it will be wel¬
in
eto he was with
.
Form Kordan & Co.
realization of im-
portant assets will bring about
comed
JP
Matson Navigation Co.
it. Each
see
foreign borrowing
some
j?
most
but
Bates
Association.
ment
nnrQ+in„
to
Directors
of
America,
sterling was bolstered should an ficer of United States Steel
up by
external
credit./ This
be
obvious
of
Scouts
E.
^
which
British
cepted
Board
Sheperd
member of the National
a
°* Trustees of the National Health
a.nd Welfare Retirement Associa^ion a*
annual meeting
at the .Waldorf-Astoria in New
Jr., has been admitted to general Yor# City.
•
^
partnership in the firm. Mr. Black
Howard
C.
Sheperd.
Vicewill be resident nartn^r in thn President, Director and Chairman
of the Investment Committee of.
™
Francisco office which the,,Federation of Protestant Wei-:
Wl11 be opened on Jan. 1.
7 fare Agencies, was also elected to
Mr. Black was formerly an ofH°ard of Trustees of the Na-.
the
danger of sliding into decline and
fall.
C.
as
Lehman Brothers, 1 William St.,
New York City, members of the
New York Stock Exchange, have
announced that James B. Black,
much-needed
a
might
well
Admits Black
proceeds of
devaluation
A
produce
shock
These shares
making the same mistakes
over
And
of
of
in
way
Lehman Brothers
psychologically impossible for him chances of any substantial imto uphold his policy of wage re- provement of the balance of paystraint. Quite recently he made ments are very slender. Personal
a public confession of his mistakes,
on the
pattern familiar in Soviet
Russia, and it must surely be dis¬
resume
The
easier
the
ernment does not wish to emI have reluctantly come to the tary stability,
barrass the United States authori- conclusion that even a devaluaties by maintaining too high in- tion
of
sterling
would
be
a
terest rates in London, thereby smaller evil than this easy-going
attracting funds from New York, policy of living on borrowed
But with forward sterling grossly money or on the
his
of hot money. The desired end
Ministers had expressed views in
could have been achieved without
the opposite sense. Mr. Macmillan
giving Trade Unions the maxi¬
is known to be an idealistic op¬
mum
of encouragement to press
ponent to any action that concerns
their excessive demands.
unemployment, however moder¬
After
this second out in
the
ate. For him this
consideration
of
borrow in
required
growing
tionists never really had a
situation.
become
other members of the E. E.
■
LONDON, Eng.—The reduction of
the British Bank rate to 6% may
be
interpreted
as
a
complete
victory of the opponents of determined resistance to inflation in
the British Cabinet.
Since that
wing is headed by the Prime
Minister himself, the anti-infla-
the
would
for
Britain has been
habit
not
manifestation
any
proval
European Common Market would
Einzig says he'd rather choose devalua¬
/,
...
E. Bates McKee, partner in Bache
& Co., New York, and also Trustee
of the Society for the Rehabilitation of the Facially Disfigured as
point of view of British influence
prestige abroad. In the long
it would shock his countrymen to their proper
senses—than slide into the habit of living on capital. He explains
tion—in the hope that
-
resistance,
and
Britain.
to
Two Named by
-
.
it might go
towards making British
official circles realize how utterly
harmful their policy is from the
prospects
adhesion
seen
.
9
^Pprova~ Welfare Group
line
~
least
the
Faced with this spectre, Dr.
could. be
some way
outside
and
there
that
British attitude of taking the
Admittedly there is much
sell
onl
pvidencn
Britain, and for years it will not
be unduly difficult to find buyers
not—and/or the sale of valuable industrial assets.
or
productivity;
continue
faTbehind Kts°continue t0
assets.
"premature,"
month
a
payment situation will continue, and all this will
culminate in either continued borrowing
will
by borrowing abroad and
by selling out valuable industrial
inflation
wage
to continue to
of
excess
be met
By Paul Einzig
Terming
bound
are
in
rise
(2073)
Hemphill, Noyes&Co. Reynolds & Co., Inc.
of
The Commercial and Financial Chronicle
1Q
.
.
Thursday, November 9, 1961
.
(2074)
Japan's
phenomenal cars, electronic computing equip¬
rate and also to some of ment, certain industrial macmnUs
present economic difficulties,' ery, copper, lead, zinc and dairyprincipally the current imbalance products. • Liberalisation of these
of'international payments and the will 'be delayed even: after the
overly rapid expansion of Japa¬ Spring of 1963 by requesting that.
GATT apply its waiver clause.
nese industry.
'Not
oniy
will
all-out
trade
•4 Japan's prosperity
and
high liberalization greatly increase the
rate of economic growth during
competition that* Japanese indus*
the past three years are the re¬
try must face internationally, but
sult of sound fiscal ground work
internal competition will also rise
laid nearly a decade ago. Recent¬
■'V Shift in Export Composition
both
to
As
growth
By Yoshizane Iwasa,
.
explains
by $39 million which, in turn, was
year.
certain' controls,
raising twice the
lation of both international and:
its pres-" domestic
competition will result
ent 7.3%, and requesting the com¬
in
better
quality
products
at
mercial
banks
to, cooperate , in
lower cost, which required ex¬
cutting back by. 10% current plans, tremely * modern
and" efficient
fo.r. industrial expansion.
These; operations."* ♦' * \«* '•
" < 4
Two principal problems said to
discount rate to
official
.
now
are
measures
beginning, to'
We must
wait
and' see
whether
further
4 Since early 1961, there has been measures will be required to re¬
Japan welcomes American invest¬
turn the economic growth rate t;o
ment in her industries. The intro¬ !a steadily increasing number of
& more stable figure. "
y
duction
of
foreign
capital into jjoint ventures between Japanese
in"Over-Heated" But' Not *
Japan during recent years has |and American businessmen,
jboth our traditional light induS;
Out of Control
paralleled the
"tries and the new. heavy indus-.
country's pro¬
What I
should like to stress,:
tries.
These new joint ventures
gressive liber¬
is ' that our economy1
combine the most up-to-date tech¬ however,
alization
o f
nical
know - how
with
much may be, as we call 'it, "Over¬
trade and ex¬
needed
foreign-capital and are heated," but it is by no means out
change
and
extremely valuable to Japan.
At of control. Both our official and
its * dynamic
the same time, I believe that they private financial institutions
are
economic
have a considerably greater ap¬ keeping a close watch over it, as
growth. M ;//'■/
ical
to
American
OUoinessmen demonstrated by this recent gov¬
to billion dollars
felt.
themselves
make
annually.
,
In
the
year
1960
the
total
;
volume
of
Iwasa
notes
bonds, reached $203
increase of over 50%
from the previous year.
During
the first, six months of 1961, this
and corporate
million,
an
As
land
still
well
is
and France. This increase
insignificant
pared
<
U.
with
S.
however,
I feel confident- that they
is
for
press
com¬
The
investment in
cial
a
will not
Both
need
the
rationalize
to
facilities
production
of
liberalization
business
dustrial
in
recent
the
part of
was
International
that" the
reason
Mone t
a r y
Fund-
postpone
Japan's
becoming an Article VIII nation.
At the present time, the schedeuie
agreed, in September to
for
for
additional
one
liberalized
the- end
of
year
trade
is
November,
principal items
uled
has given considerably
attention
months
to
be
electrical
as
70%
by
1961, '75%
yet not sched¬
liberalized
machinery,
offer of these securities for sale. The offer is made only by the Prospectus.
components
rather
pletely
assembled
•
v.
-
-
•
banks
are
heavy
passenger
At
the
granted by
'Japan to the Govern¬
million
The Fuji.Bank,
commercial
be extended by
other leading
This marks:
banks ill the country;
have risen to new
time,
same
stood at
with the United
exports
our
very-high poinL
a
port" markets.
-
Southeast; Asia*.
Canada
in which 1
Japanese
has
Canada
of
sources
of
amount
increase in
in. Canada.
natural re¬
which Japan has few.
small in comparison with
United States in
the development
economic;
beneficial
mutually
be
should
long-
our,-
•-; - -
>
the
and
Canada^
Japan,,
tween
Japan's,
Cooperation be-:
large one.
very
>
■
:
;
..
To Admit Partner ;
We are working
Dillon, Union Securities
Eastman
St,K. New York
certain City-, members of 'the New York
by Japanese Stock Exchange, on Nov.- 16 will-
Despite,
Interest
a
&.
15 Broad
Co;,
*
Com¬
with
in. trade
businessmen
great
Canadian domestic market is
The
of
admit.: Arthur
I am confident that
partnership..
our export drive can be achieved
without
any
apprecibale expan¬
sion of trade either with Com¬
munist China or the USSR.
With
munist China,
and
regards
long-term
to
exports
very
a
the
I
Europe,
As
Commu¬
against
any
amount of trade.
Vending
announcement
any
:
Treves-
New
the
New
will mi¬
significant
;
~
.'/,
East¬
that
believe
V
''
is neither
offer
:
&
Co.,./: 1475/ Broadway,
York City;, members
of the
Stock "Exchange,
York
ton to
to
partnership;
sell,
solicitation of offers to huy,
nor a
:
,
of these securities. The offering is made only by the Prospectus...
/.
•
November 9,
Corporation :|44
200,000 Shares
/
Rexach Construction
-
Company, Inc.
Common Stock
Common Stock
(No Par Value)
■*
(^1
par
value),'
.
Share
Price
be obtained from only such of the underwriters,
#10
per
Share
Copies of the Prospectus may be obtained in any State
writers, including the undersigned, as may lawfully
lawfully offer these securities in this State.
from only such of the several Under¬
offer these securities in such State.
1
<Ci
McDonald &
P; W. Brooks & Co.
Company
Compahia Financiera de Inversiones
Incorporated
Inc.
Allyn and Company
Goodbody & Co.
Richard J. Buck & Co.
•
Schrijver 8L Co.
Boenning & Co.
Mason-Hagan, Inc.
Incorporated
Hemphill, Noyes & Co.
.
Paine, Webber, Jackson & Curtis'
Scherck, Richter Company
November 8,
1961
.
*
.
-
.:/
."*
Suplee, Yeatman, Mosley Co.
/', Childs, Jeffries
'
'
»
'
'
.
J. R. Williston & Beane Warren W.York & Co., Inc.
Incorporated
.,
&Thorndike, Inc.
Hanrahan & Co., Inc.
;
•
on
Nov. 16 will admit Morris Lever-
"
an
.
To Admit Partner
in
increase
basis.
gradual
a
on
anticipate
to
Phillips
E.
Treves & Co..
I
latter
in
participated, I:
a
gradual
investment
anticipate
basis of
the
discussions
economic
expand markets for our prod¬
ucts in Latin America, in Africa,
in the Middle East and in South¬
< -
On
recent
to
eastAsia.
States, to develop
the nations of
of
economies
the
Japan wishes to increase its ex-:
-
This
American Automatic
in the
this economic aid.
$80
million credit
of
recent
'ine.
And; Japan's
participating
are
financing
totals
now
nearly' $1' billion.
great distances involved
»
270,000 Shares
A. C,
Our
have:
have not increased at anything like
tigate
as may
com¬
-
first
the
.during -
-
"
may
be
to
.
ern
NEW ISSUE
Copies of the Prospectus
tend
than
plants.
nations-
developed
and
the
and;
imports
nist-dominated countries in
including the undersigned,
heavy in¬
our
•
small
Price $11.00 per
the
regards
will
exports
markets
our
as
nine: grant; of; $20- 'million from: our'
government to the Government'
highs,, but it should be borne in" of/Pakistan.':. 'V ', \
"
mind that these; imports have been
As the: only non-western nation.'
largely raw materials- and. indus¬ to., achieve a modern ' industrial
trial;. machinery,1 not- consumer Society; Japan is* in «.a particularly
fortunate position, in cooperation/
goods. V
- - l '
•'
Imports
months of If 61
trade
•
tnat
nations,
Before:' the operations
problems at present. to become: chronic.
term goal.
First, the. government intends to present: drain began^and it has.
liberalize trade to 90% 'by Sep¬ been at least partially-checked—temberof 1962;
This; agreemehf- qup" foreign
exchange reserves,
1962, and then 90% in
September of next year.
; The
finan¬
and
expand
as
cur
first venture
into assisting
contributed to the current deficit the.
government in granting; for-'
in Japan's balance of payments, eig\ credits.
Also pending is a'
the
not an
to
foresee
advanced
challenging
by April,
greater shareholding.
world
press
more
Japan.
-This is
warning
to
the high rate" of the imports.
We
At the same "time;
how export to the United States
government nor our
more than $1 billion of goods anbusiness
and
financial
leaders:
riualiy, so that even a moderate
wish
to. hamper
the "normal
risen to >$242. million.
known,
the United
States, has
been
Japan's main- the government has granted a
source
for
foreign
investment 50% share to American interests
funds. However in recent months but in general, our business cir¬
cles
consider
the
49%
share a
we have seen a gratifying increase
We believe tfrat
in investment from Western Eu¬ wise provision.
rope.
Since restrictions on for¬ Japanese management is essential
eign - investments were eased by for healthy, efficient operations—
the
Japanese
Government
in- and this is particularly true in
May of this year, the volume of the important field of labor man¬
As American
investment from Western Europe agement relations.
has increased, notably from Great businessmen come to understand
better our position in this matter,
Britain, West Germany, Switzer¬
figure has
heavy
petrochemicals.
In
and
American recession such as that
growth of a viable economy. Jap-:
of last winter i£ felt in our export
anese
business interests, for the
market. The government: has now
most part, have lost none of their
overseas operations.
adopted a positive policy fqr pro¬
enthusiasm for capital expansion
In
these joint operations now
moting our exports/However, in¬
and the improvement of their pro¬
being
negotiated
or
discussed,
creasing exports is a long-range
some
American firms have re¬ duction facilities.. They are likely
problem which will not create an
to
continue such activity in the
quested a 51% equity position al¬
immediate shift
in
the present
immediate future; although per¬
though our foreign' investment'
balance of payments deficit.
The
regulations limit these holdings haps at a:. somewhat slower pace. current, deficit. cannot be cured*
to 49%. In a very few instances,
;
Japanese
business
faces
two ^vernight-r-buf Iudo: not; expect if
Japan, in¬
cluding stocks,
Yoshizane
industry
exports
fields
newer
ment of India calls for $16
Growth
the
neither
ticularly for those interests seek¬
ing a greater share in foreign
markets and greater profits from
in
benefi¬
Slower Exporter
ernment step.
technical
agreements or capital investments
carried
out
independently, par¬
foreign cap¬
ital
invested
loans,
ciary
conventional
the
than
such
into
we
shifting
from'.- traditional
away
drive,
export
oup
industry Ms
by early next year, as all the new own-Technical* know-how is also
ly, our government became con¬ industrial' equipment
begins to an^ important export- to the lesser
cerned that: JapunesnUhdustry was' turn out far larger quantities and:
developed countries.
growing too fast and introduced higher quality goodsl The stimu^
Gur economic aid1 to the under¬
50% larger.than the pre-;
confront Japan are,
(1) achieving 90% trade liberalization by September, 1962, from
its present 70% and, (2) reversing the declining growth of exports
vis-a-vis faster import pace.
Hs ; observes that exports are begin¬
ning to include heavy industry and petrochemical products and, also,
that Japan's economic aid to underdeveloped nations is now close
of 1980
vious
v
Bank, Ltd.,
that recent measures to correct
his country's presently "over-heated" economy Improve rather than
detract from its intrinsic soundness. He points out that investment
in-flow from abroad in the first six months of this year excelled all
official
bank
Japanese
>
Deputy Qhairman, The Fuji
Tokyo, Japan
pari cf
Japanese
Penington, Colket $L Co.
Kormendi & Co., Inc.
Byrd Brothers, King
Weil &
Company, Inc.
Volume
194
Number
6106
A3 WE; SEE, IT
.
.
.
The Commercial and Financial Chronicle-
Continued from page
1-V
,:
,
earlier
days Russia, was bled frequently, now don« sheep'sby war and' Stalin clothing, but* it- is still the
could'not be quite as
aggres- wolf and1 shows no indica¬
sive as is Mr; .Khrushchev tion of being' any things eke
today, when he and his prede- within the foreseeable future,,,
;
alter
" programs that he has chosen
are
quite in accord with the
>
"white<•
•
(2075)
that; such,
The
Russian
about the;
remainder
world.
Some
'
of;
such*
the
slow
reconciliationimay change of) the leopard's spots
been* an
after¬ may1 occur, but it is
hardly
have
thought*,
nature; of
practices and Russian thought"
preaching of Marx and Lenin.One often suspects, however,
well*
the
-
will.
payable
be*
solely from" tolk * and' other'reve¬
nues,
including the revenues of
paid-out' projects and: also-motor
fuel* excise taxes,, apportioned? to
the Authority and deposited.in the
Turnpike? Trust Fundf under the
provisions of-the Enabling Act:;
the.', expected: or sought by. the
managed
to And,of course, < certain:.»na-. main force behind: the choice present anti-Stalinist regime.,.
:!•' build: up a vast and powerful tional traits remain much in or development, of the
pror
military establishment, but' evidence*— the secretivenesS grams in- question. *
; :
i f
that is about the only differ-'- about
Of course*} we are many,?
everything behind the
ence.
The
"grand design" iron curtain,;;; the suspicion*; many miles from The sceneof'
real
; which imFranklm Roosevelt's, sometimes
and; some-?- actiom; im
Russia* and1 must*
have
cessors;
-
at. least not
or;
bonds*
11
Jl
$5® Million C)kla.:tv State of Hawaii
Turnpike Bonds -Bonds Offered
Bank, ' of
Placed on, Market:
of
Un¬
-
mind'was
the
to, be
times-
,
The' Chase Manhattan
key to
feigned- and* the same rely upon such facts as seem
New York is" manager
an'
dealings with the Russians tendency to turn to some; .in¬ to be available in. this coun¬
An underwriting syndicate jointly derwriting: syndicate which pur¬
was,, as we can now see, quite dividual as savior and* guide try,, and it could be that our,
chased' on* Nov.
8
art' issue
managed by Merril Lynch; Pierce;
of
foolishi arid, it is precisely as and
father are clearly inv appraisaL of whatsis
goingron^ Fenner & Smith Inc.; Allen & Co."; $10,000,000* State of' Hawaii; vari¬
foolish today;
ous improvement-bonds-, due NUv.
It is perhaps evidence; Some of these traits 'tothato c^uritryo is
White, Weld & Co.; John Nuveen
even more so
today because* are* and? some are- hot*- par-; precisely in accord with the & Co., Inc.; B: J. Van Ingen & Co.", 15; 1964-to- 1981, inclusive. The
Inc. and-Leo Oppenheim & Co., group submitted
a- bid
of{ 100.meanwhile, ; t h e,
Russians ticularly vital to western in- • facts, but this is the way that
offered
on
Nov.
2
an;: issue
of 009999'for the bonds- as- 3s, 3*4s
have made great progress in terests, but they, are there,—r- it all*
appears to us at this $56*500,000b: Oklahoma
and- 3.40S, setting ai net' interest
Turnpike
'
rehabilitating and developing as would;; of course* be- ex-F moment.
Authority 4%% turnpike revenue' cost? of 3.239729%. to the borrower.
the
The- bonds are; being reoffered
economic
andf military pected;
bonds,;: (Southwestern
"
Turnpike ?
:
-
;
'
,
•
•
*
-
•
,
;•
^
of their country —much* more
resources
andf
^ There
hence
are
A Threat and
have, been
.
certain :
"fJ'n*
'
•
*
;
and: A. Now
administrative
,'/«
1
*.
.
•
v:
C
■
.
a
i-.,
Promise A? Project)* dated July
,.v
.A.-'-;
v.
of
this, attitude
,
('■■■
due
.
the
July; 1,
2001:
1,
1961
at
and
prices: scaled: to
2.10%.
1
toi
3.45%,
yield* from
according
to
?
changes
maturity.
The'bonds are priced at 100%
able
to
punish those who certain: alterations in eittpha-1 bosgolthe Kremlin(seems:to- and accrued:interest! The bonds do
Other members of'the: offering
/.A* T sis' in governmental1 circles* us tobevat once^a threat*and* not! represent* debt of; the State of group include:
trust, them foolishly.
Harris Trust and-Savings- Bank;
Those—if there are any— which
mayr in
time bring promise to the remainder of Oklahoma or any of its political
Salomon"
Brothers
&
Interest
on
subdivisions;
the
Hutzler;
who think that it is possible changes not foreseen by the.; the world.; It is certainly a
Spencer
bonds, in the opinion of counsel,,? Mercantile Trust1 Co:;
to reach any sort of under¬ neo-Stalinists? now : running threat and a serious one if- the
Trask & Co.*; Malvern Hill[& Co.,
is exempt from all present Fedr
Russia;
And if is here that achievements of this pragma¬ eral income taxes under the exist¬ Inc.; Commerce Trust Co.* Kan¬
standing about anything, in¬
sas
City, Mo.-; Green, Ellis*. &
cluding Berlin, that the Rus¬ the hope of the remainder of tism are alf to* be employed ing1 statute and court decisions.
Stern, Lauer* & Co.;
The bonds will finance the con¬ Anderson;
sians will honor in good faith, the world if or evfentuaf sur¬ chiefly in the conquest* of the
-
>
v
,
;
when it,
their
once
appears
directions
are
from the
is-now
other
in
lies-
interest
cease
to therm
•
ing the same type of naivete
that
governed Franklin
pear
S t
a
that it. remainder of the world.
suffering at the hands;
of the Kremlin.
simply reveal-
sorrow
that,
1 i ji*h
It would ap¬
compared;
I^hrushchev
pragmatist,
with
is.
a:
struction
It is
hopeful? omen iff it stops,
with? merely adding tor the*
world production and supply
of the good things of life —
whether they be produced- by
ther Russians : primarily
for
western
a
genuine
-
an
84.6
mile
Freeman &
South¬
part of
as
Co,; Cooley- & Co.; F.
Kennedy & Co.; Robert
Brittain
the
K.
Southwestern Route which will be
a
Wallace
&
Co.
•'
134.6: miles
from
Form
the
Grosvenor Securities
Turner
Turnpike in
Oklahoma Grosvenor;
southwesterly to the Red'
City
River
north
of
Wichita
Falls,
Texas. The remaining 50 miles of
<'".A
'
r,
limited access, high-speed route
extending
He: is I
above all bent' upon getting'
ing with Stalin,
as
little Russians or not; It* is al$o a
It is, of course, quite evi¬ things ° done ' with
waste and inefficiency as,conf possibility: that' the process of
dent that the same centralditions permit; He has so far pragmatic
management, of
ized control? by government
been able to?convince his own; Russian
industry will tend
of everything inside of Rus¬
followers
that- policies
and; gradually but definitely tosia
which: was
the central
Roosevelt in? his earlier deal¬
of
Turnpike
Securities*:;
been- formed
West 42nd
with
Inc*
offices
St:, New York
at
has
Tl
City;'to
''
■
theme of Stalin's
indeed;
is;
the
or
Southwestern Route has been
will be constructed at
an
esti¬
engage
in
Officers
a
are
securities
Irwin
mated total cost of
less
or
eral; funds.
Treasurer*
in¬
from communism,
still dominates? the thinking
of all those in power in Rus^
separable
5
This announcement is not
an
ojjer of securities jor sate
or a
soticitation oj
an
ojjer to buy securities.
It is true, of course, that
sia.
administratively, .'Khrushchev*
New Issue?.
-
-
A/aa-aA. ?A.'AA
'
<
A'4' .'A
:-:A/ -
-;A
'
*
November 9; 1961'
has instituted what is termed
decentralized
a
program
for
the
management- of the economic affairs of the country,
but
all
in the
this
is but
a
875,000' Shares
change
techniques followed: in
carrying, forward the broad!
policies of both Stalin and
Small Business Investment Company of New York, Inc.
(A Federal Licensee under the Small Business Investment Act of 1958)
Khrushchev. What if the idea.;
.
■
"■
.....
.
:
•
•..
•
•
-
'
•
-i
I
\
'
'
stolen
was
American
from
Common Stock
capitalism? So long as the
present regime in Russia, like
that
?
of
Stalinv in
Par Value
$1 Per Share
earlier
the
days,, remains determined to
bring the remainder of theworld under its thumb, such:
changes as these render the
Soviet Union more, not less,
of
dangerous to the rest
us.
Not Yet
this
If
leopard
Price $20 per
ever
does
share
change his spots—and that it
may do at some time or other
—the
process
will
.
without
question be a slow one,
and
one,
it may be said,
which it has not begun so far
as
the
more
fundamental
much
Copies oj the prospectus
may be obtained jrom the undersigned (one'oj the
therein) onty by persons to whom the undersigned
legalty ojjer these securities under applicable securities laws.
underwriters named
may
aspects of its life and particu¬
larly its relations with the'
remainder of the world are
concerned. The present
just
as
as
treacherous, exactly
and quite as de¬
devious,
termined
To
rulers
precisely as imperialistc,
are
as
change
Stalin ever was.
figure of
the
speech^ the1 wolf may more
,
business.
Shapiro,
approximately
President Stephen Sokoloff, Sec¬
$34,680,000 by the State HighwayDepartment with State and Fed¬ retary^ and Norman B; Yarmis,
policies,, and1-
more
A.
Read & Co. Inc.
12
(2076)
J J
"Inflation Is
Continued from
their
to
with
page
Repudiation
increased incomes. Then,
end
of the war, con¬
the
sumers
all
were
set
to
make
up
for
tion
The
that
households and business firms de¬
your
cided
to
splurge
rather
than
and the result was more in¬
Too
dollars
many
were
stabilized
Prices
in
the
late
the
tremendous pro¬
ductive power of the American
economy
caught
up
with
the
as
clamorous
and business
consumer
then came Korea,
jolt of wartime de¬
mand
pushed
prices
up
once
again. But again, after a lag, the
demand.
and
But
another
productive
the
goods
necessary
stabilized
Prices
it.
turned out
to satisfy
the most
demands placed upon
economy
and it
again,
that they would
seemed
learn to
behave.
The
Price
Spiral
After
lull
from
began
to
a
prices
There
and there
edge
shooting
no
was
1952
1955,
burning
the
face.)
Up
to
and
up
be witnessing
a
leapfrogging of wages and prices.
Workers would demand, and get,
raises greater than their contri¬
bution
to
production
entitled
to, costs would consequently
up, and companies would at¬
them
go
tempt
to
those
cover
costs
by
raising their prices—which would
then
be
sumer
cause
reflected
in
higher
con¬
which
prices,
would
then
demand,
and
workers
get, raises.
.
.
.
to
holes
in
one's
pockets,
would like
if the things you
even
to
buy
gives
a
are
wealth
a
money
hard-to-get
items,
deceptive
feeling
of
—
welcome
strain
mental
But
budget.
to act
seems
the
During
instead
has
seemed
of
the
past,
the
distinction
be¬
recent
and
less
important
than
questions such as structural un¬
employment. After all, prices re¬
cently
have been quite stable;
wholesale
prices, in fact, have
off
tailed
even
a
bit.
Even
That has been the
committed. Yet to sustain
are
we
export surplus,
an
nomic
the
policy,
as
Chairman
we
must turn
out
products that can compete
everywhere in terms of quality—and in terms of price.
international
For
domestic
remains
a
well
as
as
inflation
then,
reasons,
problem. There is ob¬
viously little danger of hyperin¬
(such
as
occurred
in
Germany after World War .I and
in
China
after
World
War
II)
the
of
world
can
of
productive
ma¬
chine. We must remember, how¬
that
the
even
inflation
of
have
can
we
occasional
suf¬
have
brought about strains
national
the
weaken
Harmful
Consequences
thing, inflation weak¬
productive^ efficiency. It im¬
one
pairs business management by
taking the meaning out of costaccounting figures, so that it is
all but impossible to gauge the
of operations by their
showing. Inflation also per¬
efficiency
eco¬
be seen in
cost
recent
verts
incentives
business
from
be invoked even in the face of an
production
to
more
profitable
speculation and hoarding. Short¬
ages then develop, and soon all
incomplete recovery from the re¬
businessmen
are;
hoarding
or
speculating in the "gray market"
simply to keep production going.
cent recession.
The
story of the nation's nar¬
elbowroom can be read
in the balance of payments fig¬
ures for the 1958-60 period. Dur¬
ing each of those three years, we
recorded a net payments position
of close to $4 billion, and thereby
created a strain not only on our
reserves but also on our standing
So
in
the
international
community.
Of
setting
and
course,
we
Inflation also cuts into workers'
order
to
to
produce
earn
in
During
more
more.
World War II, people were will¬
ex¬
pected to
for
house
see dollars flowing out
government
grants
and
private foreign investment, but
we did not expect to see the nar¬
rowing—and at one time disap¬
consumers
continue
since
clamor
for
U.
away.
has
part
order to
by
For
hard-fought bargain¬
a
will normally result
settlement plus a series
compromises on related issues.
But then, with
inflation, the wage
a
rate
comes
whole
unstuck,
the
and
.
result
J
Speaking
broadly,
then, infla¬
tion
creates
an
atmosphere of
broken promises. "Inflation is re¬
pudiation."
The
meaning
of
private agreements to pay wages,
salaries and rents, and the mean¬
ing of governmental promises for
debt repayment and pensions, be¬
come
eroded.
People
get
the
dollars they were promised, but
the
purchasing-power substance
of the promise is missing. In the
Public
long
mon
individuals
run,
towards
give
the
them
Common Offered
the
and the farmers who keep
demanding more price support
Congress. Worse than that,
they also get the feeling that
somebody is swindling them, and
then anything can happen. Look
only at the Hitler that arose from
Germany's inflation or the Mao
that arose from China's inflation,
and then you will see — those
whose claims have been repudi¬
ated will eventually repudiate in
turn, the economic society which
any
may
to
work
in
be undermined
further inflation.
In this
U.
NEW ISSUE
November 8,1961
A
NATPAC,
lic
Manhattan
offered
Bank,
2
$19,000,000 various
dated December
The
bonds
York
New
of
Nov.
on
issue
an
purpose
of
bonds,
interest
being reoffered
Park,
pub¬
a
at
It
also
sells
and
services
fering will be used to enlarge the
company's
processing
and
ad¬
ministrative
faciltiies, to retain
rates
ranging from
according to ma¬
additional
municipal improvements, and are
said to be valid general obliga¬
of the
Ozone
home freezers. Proceeds of the of¬
payment
The bonds will finance various
tions
of
announced
offering
items.
1, 1961.
are
Inc.
York,; has
of 100,000 common
$4.75 per share. The
company is engaged in the pro¬
cessing, freezing and sale of meat,
poultry and
other
frozen
food
:
syndicate headed by the Chase
and
the
on
foods, and
capital.
working
offering is being
The
sale
frozen
general
as
time-
consumer
obligations
of freezers
City of Philadelphia,
under¬
written
Pa.
follows:
as
Chemical
Bank
of New York;
by
William,
David
&
Motti, Inc., Flomenhaft, Seidler &
Co., Inc., and Street & Co., Inc.,
all of New York City.
Harriman Ripley & Co., Inc.; Kid¬
der,
Peabody
Dillon, Union
&
Co.;
Eastman
Securities & Co.;
Thalmann
&
Co.;
Co.; Seattle-First
National Bank; F. S. Moseley
Co.; A. G. Becker & Co., Inc.; Ira
Ladenburg,
announcement
buy
any
is
neither
of
Carey Forms Co.
BLOOMFIELD, N. J.—William P.
Ca^ey-ia engaging in
an
isiness
by
from
Bloomfield
name
offer
to
these
securities.
the offering
sell
The
of
a
securities
offices
Ave.
under
at
the
28
firm
Carey International.
nor
a
solicitation
offer
is
made
of
an
offer
only
circular.
NEW ISSUE
60,000 Shares
Class A Common Stock
(Par Value $1 Per Share)
of Columbia,
Guam, and in
and
NATPAC, Inc.
New
Bonds Offered
to
Weissberg Corporation
Rico
Stock Offered
This
H. R.
District
the
Canada and Australia.
John Nuveen &
300,000 Shares
S.,
Puerto
$19 Million Phila.
New York Trust Co.,
offer to sell, nor a solicitation of an offer to buy any of these Securities.
The offering is made only by the Prospectus.
Broadway,
business of providing accident and
health insurance throughout the
Other members of the syndicate
an
In¬
Co. of America at $57 per
The company of 5050
turity.
willingness
save
com¬
Chicago, and its three subsidiaries
are
collectively engaged in the
they feel'has betrayed them.
value
in¬
300,000
Combined
stockholders.
from
at
of
of
share
is being made by Smith,
Barney & Co., Inc.; and associates.
Proceeds will go to the selling
pay,
1.65% to 4.60%
the
offering of
shares
surance
unions that keep demanding more
in¬
disillusioning,
of
Peoples
Co. of America
who
enough,
Co.;
Charlottesville;
Combined Ins.
become
bosses
Co.; Inc.
&
Rowles, Winston & Co.; Barret,
Fitch, North &,Co., Inc.; Cooley &
Co.; Newburger & Co.; Robert L.
Whittaker & Co.; Boenning &
Co.;
Harold E. Wood & Co.; Shaughnessy
&
Co.,
Inc.; : McDonaldMoore & Co.; Rotan, Mosle &
Co.;
and Milburn, Cochran &
Co., Inc.
'
1
Glynn
National Bank of
bargaining contract soon
too, so that the
is
only
bitterness
and
conflict.
were
This advertisement is neither
„
Christensen, Inc.; King,
Blewer,
.
unstuck
comes
But the postwar
savings
has
melted
Because of this experience,
people's
S.
contracts
arrangements.
instance,
been
car.
dividual
here and abroad would
to
or
flation
pearing—margin between exports
and
imports. We thought that
Co.; Federation
Co., of New York;
&
Shares
ing and anxious to save for post¬
war
objectives, such as a new
-
frequent
wage
production is weakened.
incentives
financial
forces
of
similar
either
way, through the up¬
of costs or the stimula¬
tion of inventory speculation, ef¬
ficiency
goes
out the
window
rowing
also
renegotiation
and
bitter
For
economy
Heller's
the great .strength
American
ens
in
to
to
Inflation
never
el-
Quirk
&
Trust
&
Robert W. Baird &
are
we
expenditures
military
that
international finance. And the
marks,
all
form of 1 two
right, but in the
postage stamps.
Ernst
&
which
if
sustained
fabric.
keep prices in check is some¬
involved with our problems
path;
Bank
50,000
wage
bouts
how
naturally affects our future
Wells
his
session
be
to
narrowing
received
ing
must
Inflation's
our
Haupt
&
Co.;
Baxter
&
Co.;
Yarnall, Biddle & Co.; Goodbody
& Co.; Auchincloss Parker &
Red-
of
success¬
car
nagging
worry
about
the
problem
of inflation
has
con¬
tinued, because of the growing
realization that our past failure
of
connection, consider the case of
thrifty, German
businessman
purchased in 1890 a 50,000
mark ($12,000) endowment policy,
payable on retirement in 1923; he
a
ih
as
against
the
invasion.
But this
improvement in our international
accounts comes none too soon; it
foreign
fered
so,
Thursday, November 9, 1961
.
who
counterattack
ever,
the
.
finance the foreign economic and
of
because
Detroit's
factors
ful
because
inflation
cost
.
Co.,
Inc.;
RobinsonHumphrey Co., Inc.; Hallowell,
Sulzberger, Jenks, Kirkland & Co.;
The Ohio Co.;
Burns, Corbett &
Pickard, Inc.; Chaplin, McGuiness
&
Co.; A. G. Edwards & Sons,
Suplee, Yeatman, Mosley Co., Inc.;
proportions,
such
flation
this
of
demand
tween
from
balancing
cost inflation
differently; it burns
the money
pocket lining.
up
neatness
relief
past year, our export
has
again
grown
to
healthy
of
warning that restrictive monetary
and fiscal policies may have to
prices went, in a rise of 12% be¬
tween early 1956 and early 1961.
We seemed
pill. To have
CEA
on,
pent-up
demand,
but
still
prices-went up. Soon people be¬
gan td talk of a new kind of in¬
flation—the wage-cost push.
(It
was
in the textbooks all along,
but here it was staring people
in
it
infla¬
upward.
of
right
between
demand
war
heavy overhang
no
was
to
a
inflation, for all but
economic pep
bowroom
happened.
than
those unlucky people who live on
fixed incomes, acts as a kind of
realization
1952
After
difference
Over the
surplus
arose
indicated
more
old-style
tion. Demand
in
Then the unexpected
the
and
again chasing too few goods.
Forties,
was
theoretical
that
inflation
cost
there
the
flation.
form
-'vi v
clamor
great
this
over
the things they did without
during the war, and businesses,
too, had abnormally strong in¬
centives to invest, because of the
backlog of' demand for houses,
machinery, factories, stores and
inventories. This spending mood
was
'reinforced
by
the
large
cushion of liquid assets — cash,
bank deposits, and war bonds—
accumulated
during
the
war.
With so much wealth on hand,
save,
1956-61.
of
goods, regardless of price — and
got what we deserved, in the
of
lagging
exports :and
rapidly increasing imports.
we
apparent pattern of the cost infla¬
3
low, at least in relation
nessmen
The Commercial and Financial Chronicle
V;
ELEC TRA -TRONICS,Inc.
>
Common
Stock
(Par value-$.75 per share)
Price $14.50 per
Share
Price
Copies
Copies of the Prospectus may be obtained from the under¬
signed only by persons to whom the undersigned may legally
offer these securities under applicable securities laws.
of
the
Gffering
$3.00 Per Share
circular
may
be
obtained
from
the
undersigned.
JAY MORTON & COMPANY, INC.
1242
No. Palm
Avenue
Sarasota, Florida
Troster, Singer & Go.
BRUCE-ATKIND & CO., INC.
15
Williams
New York
November
6, 1961
Street
4, N. Y.
?
L
Volume
194
Number 6106
The Commercial and Financial Chronicle
County
and
NEWS ABOUT
Maryland,
tional
New
•
Branches
New
•
Offices, etc.
the
New
advisory
York, has announced the appoint¬
ment of six Assistant Managers
of
its
They
Heidel¬
berg
military
banking
facility,
Germany;
Kenneth
E.
Arndt,
Kazuo
MatsiXoka,
and
Makoto
Takenouchi, Tokyo branch, Japan;
Ulises
Giberga,
and
Anthony
A. Giurdanella, Charlotte Amalie
branch, St. Thomas, V. I.
Y -"■■■ '<;
P'v-, * ; ^Y:''
'•
W.
Mr.
Widmer,
A.
Office, Manhattan, and Robert T.
Wattie, 60th Street and Lexington
Avenue Office, Manhattan as As¬
sistant
Company,
Vice-
a
St.
Louis,
Y".
Trust
is
Mo.,
Mr.
Pedersen, who
Bank's
the
Y:>/-- Y Y *
'yv
Y *
*
■
:
v ;v;
D.
as¬
eral administration of the Frank¬
organiza¬
department, has been, with
Morgan Guaranty and its prede¬
cessor, Guaranty Trust Company
lin National Bank of Long
of
Resignation of Angelo J. Spinelli
tion
New York,
came
in
1958
until
his
Also
tion
Savings
bank's
was
P.
the
real estate trust officer. He
Montclair,
of
Paul
joined
from
active
to
serve
member
estate
in
1950.
of
the
First
National
York,
opened
City
its
Bank,
fourth
opposite the
d
u n
branch
is
U.
new
S.
Board
headed
by
National
First
City
Yu.yA'YYY
Bank,
be
$5
The
t
New
Center at
shares
Plainview, Long Island,
2.
•-\Y;>Y"vY-vYy:'
YYY"' YY-Y'-YY'Y *
*,
< *
y.Y;
and
its
Killackey
to
Area
Grand
Lower
and
Edward
S.
Marion
consists
loan
All of
in
Fremont, Calif.,
E.
Nov.
for
Pa.,
a
r
-
,
/■
,
>
•'
*
Bank
*
branch office
in
in. Hay ward.Y;
making
today,
the
Edwin
share
E.
Adams,
'
of
California has purchased the bank
building at 1004 B Street, corner
of
Main.
" Present
Senior
Siems,
:it
Vice-Presidents.
$
ing
indicate
and
will open
The First Commercial Bank, Chi¬
Illinois, elected William R.
cago,
were
reelected,
the
Davis
following
Vice-President.
a
YYY'Y
*
Drexel
from the executive office
National
Illinois,
of County Trust Company at Glen
Burnie were elected: Robert M.
has
*
Chicago,
Charles D.
named
and
a
Di¬
elected
C
a
Security
a n e e
This
announcement
This
National
First
Los Angeles,
National
;■
/■
Alperin
yYYY
was
*
Alfred
F.
made Chairman.
a
has
Edwards
Vice-President
named
Stewart Cosgriff has been
* :Y'-
*
been
Guar¬
of
anty Bank, Phoenix, Ariz. He
was
Senior
Director
Bank
&
for
the
in
each
12
the
of
First
the
Trust
*
-/
•
'
•V
•f
& Investing Corp.
CONVERTIBLE SUBORDINATED DEBENTURES
*
*
-
of
YY'YY-
Md.,
Baltimore,
Bank,
To bear interest from November 22,
Due November 15,
1961
1976
Baltimore
Convertible prior to maturity,
unless previously redeemed, into Common Stock at the follow¬
of
j.
•
approximately $8.33, $8.70,
»,
-
$9.09 and $9.52 per share, respectively).
Company is offering to holders of its Common Stock and Series A Warrants the
-
■■
•
■•■y yv
::.v'
•
•,«
•
v*-'
.■
for each
held
70 shares
November 6, 1951, or
YvY-
issuable
of record by the/holders of
as
;
Y
■
• y:
'
•
Y.'
subscription offer will expire at 3:30 P.M. New York Time, on November 22, 1961.
:
' Y
' : YY
\
.
;
SUBSCRIPTION
(Par Value l(ty per Share)
PRICE
$3.00 Per Share
'
y
may be obtained from
where the securities may be
Sutro Bros.
J. B. Coburn Associates, -Inc.
150
Broadway
100%
Y
Copies of the Prospectus
Offering Price:
Common Stock on
if such Warrants had been exercised on such date.
Corporation, Inc.
COMMON
,
through November 15, 1971 and 10.50 shares thereafter through
1976 (equivalent, at such principal amount, to conversion prices
right to subscribe for the Debentures at the rate of $100 principal amount of Deben¬
The
Thermotrornics
12
through November 15, 1964, 11.50 shares thereafter through November 15, 1967,
matter of record.
■:Y Y
Angeles,
Calif.
*
6%
tures
y'Y-;Y.v
Los
Co.,
a
Western
a
United Improvement
shares having been sold, this announcement
■
elected
Vice-President ' and
NEW ISSUE
from the split) at
*
of
*
*
of the issue or the sale thereof by the Department of Law or the Attorney General
of the State of New York, or by the Securities and Exchange Commission.
The
Y-
the
Bank
Calif.
will
100,000 Shares
Y'-'YY-YY
been
of
an
offer to sell nor a solicitation of an offer to buy these securities.
Prospectus filed with the Department of Law of the State of New York
and Exchange Commission. Such fling does not constitute approval
and with the Securities
a
November 15,
a
has
constitutes neither
11 shares thereafter
only"as
office
rector, effective Nov. 6 and Nor¬
man
offering is made only by
shares
appears
r,
Vice-President
*
Wilson,
Vice-President;
W. W.
Malcom,
Vice - President;
B.
Herman Adkins, Vice-President;
Edwin C. Adkins, Vice-President;
William
E.
Ferguson, Assistant
Vice-President; Willis T.
Han¬
cock, Agricultural Representative;
new
for business early next
year.
Fernando
*
Bank,
President
Christensen
the
:J;
ing rates (subject to adjustment in certain events) for each $100 principal amount:
All of these
construction
plans call for extensive remodel¬
record
P.
Area
Presi¬
dent, also stated that The Bank of
on
(including
.consolidation
.
announcement
Directors.
V
;
.
California, N. A.,
San Franicsco, Calif., has received
approval from supervisory bank¬
ing
authorities
to
establish
a
'
The
by
of
value
par
subscription
one
of
3
Adams, President.
.
of Baltimore
the officers
addition
Miles,
the
vey
,
and
persons
S.
Finance Committee; Har¬
E. Jmmart,
Senior
VicePresident and Cashier; and Del¬
bert
Davis,
George
D.
F.
Robinson, Jr., and Leonard A. A.
of
committee.
Bank
Hooper
Officer; Robert D. H.
Harvey,
Vice-Chairman
of
the
Board; Tilton H. Dobbin, Presi¬
dent; D. Luke Hopkins, Chairman
of
member
a
of
_
The
Executive
Davis,
and
resources
Chairman of the Board and Chief
Cambridge; F.
Annapolis; and
J.
B.
Whitworth,
Chestertown,
formerly
Directors
of
County
Trust Company, were elected Ad¬
visory Directors. Delbert Davis,
former President of County Trust
Company, was elected a Senior
the
of
excess
Senior management of the bank
of
Lazenby,
Vice-President
in
are
Edwin
in
announced
Trust
shares
of
of
owned
Board
Central
Midtown
Russell
price to be determined by the
Trust
Company, New York, has elected
Hackney
Y-;
consolidated
-
bank
office
was
$2,500,000
shares resulting
a
Roger
.
A.,
N.
•
$38,000,000
and
total
exceed $535,000,000.
bank,
W.
Lee
Allen, Y Salis¬
bury; Delbert Davis, Glen Burnie;
Man-
and
stockholders
to
6
York
solidated
branch
it
split the presently
number
of
New
; the
California,
394,975 new shares will be
offered
ratio
Chemical -Bank
Directors v.of
of
approval from supervisory bank¬
ing
authorities
to
establish
a
by
each.
Nov.
Nov.
as
of
Philadelphia,
5,134,675
York, opened permanent quarters;
in
the
Crossroads Y S h o p p i n g
on
^
Bank
394,975 additional shares.
total
then
R.
of
s!«
»!«
of
ance
The
Chamberlain.
*
a,-
.
The
outstanding 2,369,850 shares two
one, and authorized the issu¬
The
Thad
bank
meeting of the Board
Na¬
San Francisco, Calif., has received
was
for
Embassy
f construction.
e r
bank
Banking
Nov. 6 voted to
City Branch Nov. 3 on the re¬
juvenated Paseo de la Reforma,
now
Y.a
a
A#-
Company,
New
At
bank
transferring
$2,500,000
from undivided profits to
surplus,
making
a
total of $35,000,000.
Total capital funds of the con¬
to Maryland National
Bank.
Republic
increased
tors
14, solely
changing the
of
purpose
name
the
*
Pennsylvania
Mexico
the
bank's
with
tional Bank, Dallas, Texas.
by action of the Board of Direc¬
has been called for Nov.
for
formerly
capital and surplus of the
consolidated
stock¬
of
consolidated
Brice,
J.,
YYY Y:
sfpxjkhplders, of The', F i,r & t
The
/YY / ,Y
the
E.
Auditor.
an¬
agers-
officer
'
/
;
N.
The
Assistant
Norman
13
Pearson
been
the
*
trust
estate
of
employment, but will
continue
service with the bank. He became
real
A.
has
successor
by the Board of Man¬
the bank. Mr. Spinelli
starting a leave Yof absence
is
administration during most of his
assistant
Montclair
of
agers
as
Guaranty Trust Company in 1920
and has been active in real
The
nounced
elec¬
Kappesser
Bank,
his
as
of
election
and
that time
assignment.
present
George
the
:!:
*
President
as
from
announced
of
1925. He be¬
headed
and
department
Square, N. Y.
*
Assistant Vice-President
an
loan
since
Franklin
Island,
meeting
special
Dorsey,
and
Assistant
Bank, became effective at
of business Nov. 3, ac¬
National
Twomey
has
been
elected
Vice-President, business
loan department, and
James K.
Lamberton
Vice-President, gen¬
is assigned
general
Treasurers^
Jerome
signed to the operations division.
to
Lawrence, 300 Park
Office, Manhattan; James
Favia and Kenneth S. Rolland,
Department, ,100
Broadway, Manhattan as Assistant
Secretaries and August W. Fied¬
ler, ; Purchasing
Department;
August Di Paolo, 30 Broad Street
3, by Henry C.
Chairman of the
formerly
and
Trust Investment
Nov.
Rohlf,
Barry
Avenue
Board.
Mr.
T.
Secre¬
Albert
and
Trust Company of New York, was
President of the Mercantile
the
announced
Assistant
of
O'Neill, Instalment Loan
Department Robert L. Gugliemelli
Henry
Alexander,
also
Bernard
J. Rohlf and
Edward
C,
Pedersen
as
.Vic.ePresidents of Morgan Guaranty
announced
Nov.
taries are::,Edward
■■■
of
Helm
appointment
.
Election
respectively, it
3 by Harold
Helm, Chairman. :
y
H.
branches:
overseas
•
Albert
are:
boards,
announced
was
Cashier,
Board.
A
L.
Laura
close
holders
The Chase Manhattan Bank,
Company of
Md.,
Burnie,
cording to an announcement by
Hooper S. Miles, Chairman of the
Revised Capitalizations
•
Trust
Glen
under the name of Baltimore Na¬
BANKS: AND BANKERS
Consolidations
(2077)
Hew York, N. Y.
Allen
'
'•
•
'
■
r
h
<'V
legally offered.
&
Co.
Finkle
Company
&
the undersigned only in such Stales
!*
\
&
Co.
'"O
14
-The Commercial and Financial Chrohicle
(2078)
the
13%
gation
increase requested. Liti^
occurred Tn
/also
City and
pected *in 'the "near future.
ex¬
Real Estate Trust
Thus,
Company
Iowa Public Service supplies elec¬
with the
tricity
to
228
communities
in
Iowa, six in South Dakota, and
of Interstate Power
Real
also
curity, with - possibly some sav¬
ings. - A
third (interconnection
with the Corn Belt Power Coop¬
South
wholesale to
at
Sioux
It also supplies
in 44 municipalities
(including Sioux City and Water¬
Gity; Nebraska.
natural
gas
loo) in Iowa,
erative
service
Iowa
central
east
kota and two in Nebraska. Lique¬
"Revenues
about'-
are
2%
Electric
water.
and
about
29%
and
miscellaneous. Gas
heating),
ing
17% (industrial
laneous.
1965——
3.9%
of
Pool
and
Plant
generates
1961-64
the
Iowa
Federal
hydro
plants.
.-The
River
tCity,
1964.'
'.v:
The
reserve
-
;
costs
for
miles
south
be,.completed
to
.
is
by
power
reducing
regular mse.
peak
op¬
for
building
facili¬
interchange.
A
ditioning
River
line.
this
and
of
care
Omaha has a
due
to
air
will
hydro power
Moreover,
in
Omaha has available
power,
there
unit
at
is
attractive
The
is
big
The
con¬
obtain
can
a
of; cheap
A
the
winter
161,000
between
will
volt
soon
-complicated,
reference to
supplied
gas
is -of
since
-following
On
delays.
hand,
state ^commission
company must
of
larger
an
gas.ratios charged
order to take
increases.
cost
<cities
creases
do
amount
tion
over
1960
a
not
appeal
court—thus
siderable
appeal
cities and towns
in
consumers,
state
the
by
the .other
mo
care
from
gas.
to
for increases in
considerable
drqpped to 5.9 % and share earn¬
ings To
cents—with
88
to
$1.06
is
If
'in¬
grant
to
a
ended
Sept. :30
pared-with
12
months
$1.39 com¬
were
Standard
&
of
An
end
(in
of
account
for
100.5
A
gain in earnings In .1962
seems
.possible
when; the / full
benefit of the expansion of gas
sales
the
to
40
additional
reflected. '
The 80 cent
1956-60
of
'com-,
The
supplemented
last year by a.5% stock dividend.
This year 'the -rate
has -been
88
cents
which
:
:
earnings.
connect.-the
company
increase
In
Waterloo,
decision
resulted
of
4%
about
Iowa
in
an
in place of
of 724 King St.,
Fla», .has three operating
divisions.
; .-/
offer to sell
The
nor a
solicitation of
an
the
•
Gogst
v Armatures
Division .pro¬
vides. engineering; manufacturing,
sales\and .service in the electro¬
v
Hill & Co. Admits
motive
Reid
Partner
as
•
electro
and
fields
to
the
;
that
a
pleased to
are
Robert
H.
Reid
partner of Hill &
represent
broker
The
.firm '■as
the
on
New
Exchange.
/%
,
a
York
■.
ANGELES,
&
as
Co.,
Eric
sales
East
is
-
Electric
in
electric
commercial
engaged
controls;
systems
other
and
•The. company
at
duty electric and electronic equip¬
ment.
Universal Rectifier
associated with Wedbush
Stock Sold
Santa Barbara Plaza,
registered representatives.
ceramic
performing
specialized
offer to buy
any
offering
of
•
of
100,000
common
Universal
$3
at
by
made
of these securities.
per
Kerns,
Rectifier
share
being
is
Bennett
be
used
additional
by the
company
for
leasehold
equipment,
salaries
:
The
Pontius
Ave.,' Los -Angeles, Calif., plans
to engage in the development of a
proprietary line of high perform¬
silicon
ance
and
2055
of
company
''.commercial,
rectifiers
the
for
military
industrial,
home-entertainment
.
McDonald & Co., Cleveland, is of¬
fering
publicly
shares
6f
270,000
American
common
Automatic
Vending Corp., at $11 per-share.
Net\proceeds will be used by the
to .repay
company
debt
and .fi¬
possible future acquisitions.
nance
The
of 7501
company
Carnegie
Ave., .Cleveland, is engaged in the
sale -by, means mf
vending .ma¬
chines ,of {cigarettes, coffee, .cold
drinks,
candy land
other
food
Items in the Cleveland, Columbus;
Cincinnati, Toledo and HamiltonMiddletown, Ohio areas. It is "also
.
a
wholesaler of tobacco, cigarettes,
candies,
lated
cigars,
items
Cincinnati
in
sundries .and
the
.areas.
re¬
Cleveland
:
and
-
Thermotronics
Stock All Sold
J.'B.'Coburn
Associates,'Inc., New
York-City, reports That its recent
offering of 100,000 common shares
Thermotronics
Corp.,
Inc.,
at
$3 'per--Share has been -all sold.
Net proceeds-will be used by the
//'for
" The
.purchase
-
of
inventory,'moving
.research and develop¬
advertising, consumer re¬
and working capital.
expenses,
ment,
search
The
of
companv
Jericho
27
Turnpike, Mineola, N. Y., was or¬
ganized to engage in the business
of
research
electronic
and
development
electrical
and
electronic
Treibick, Seidell
Weissberg
Stock Offered
made
Treib'ck,
St.,
Seidcn
Wall
&
Yo^k
New
New
Forsyth, 63
- City,
have
admitted John de Cuevas to
eral
be obtained from the undersigned and
-
'
.
partnership
in
gen¬
firm.
the
>
legally off er these securities-in this state.
.
i El !a% K^uffimn Opens
■Ellas, Kauffman & Co. has opened
jdffices at 25 Broad St., New Yoi'k
'City,
Seidler S Co.
INCORPORATED
to
business.
Klias
Mr.
engage
Elias
'
iHanseatic
Witter
&
securities
a
Partners
and. Carl
lEertner
in
Rcbort .Kauffman,
'was
formerly
^Brothers,
New
Corporation,
Co.
/'
Gerali
aT,e
'
and
'
: /
shares of H. R.
Corp., at $14.50
Admit Partner
PRICE: $4.75 Per Share ;
of
devices,
an
heater.
water
11. R.
common
•
Vending Corp.
/
/;
Public offering of 300,000
(Par Value 10c Per Share)
CO., INC.
jet
of
fields.
COMMON STOCK
STREET &
and
n g
principally the development of
:
NATPAC IXC.
WILLIAM, DAVID & MOTTI, INC.
t i
e s
treating
Am. Automatic
Co.,
&
Inc., New York City. Net proceeds
'
100,000 Shares
may
t
heat
engine components.
company
(improvements,
officers'
and working capital.
<
as may
com¬
aircraft
specialized high-tempera-/
coatings
to
jet
and missile hcomponents;,
own
lure
equipment and
will
Copies of the Prospectus
military jet
engines; applying and processing
its
of
T.
have
November 9, 1931
from such dealers
specialized
comnonents Tor
and
Tn.
engaged
of
.
NEW ISSUE
.
is
manufacture
mercial
work-'
with/headquarters
Millis; Mass.,
the
and
•
heavy
?
157
offer is made only by the Prospectus.
.
ing capital,
Coast
service .of
and
and
water
'/;,/■.
Fenton
(Division)
motors
Stock
Calif.—Carl
E.
the
'floor
Two With Wedbush
LOS
Service
will
the
in
of /Florida. /'Ed's
area;
,
become
and
air
force and missile bases and indus¬
announce
has
Co.
mechanical
-
Government
trial customers
Fill & Co.
Corp.,
an
electronics
overall re¬
space
has
the. sponsibility for. the "engineering,
research, and development, design
at
An
This announcement is not
The
laboratory
shares
i
^;
•
price ;around
%
become
costs.
court
-new
affords a -yield of .8.1 %t The? and 'manufacturing of electronic
stock -is selling at about 20 'times -products fqr The
•cqmpahy.' LfEast
higher
a
of
28
con¬
-a
-development
company
Cocoa,
.
over-counter
debt,
-working capital.
/V'
dividend paid dur¬
to
of
products,., purchase of inventory
&hd .equipment,
expansion -and*
-'was y-
recent
;
by The company for the repayment
further
munities si
and -inventories
ment
engine
'offering
shares
Nine
I960) ;o,f The-Charge
amortization
corporations.
of
60,000 'common
Electra-Tronics,'Inc.,- at
$3 per share/is: being made' by Jay
Morton & Co., Tnc., Sarasota and
Bruce Atkind
&
Co., Inc., New.
York City. Proceeds willbemsed
$1.45
high 'Side.
personnel, research and
development, purchase of equip¬
Stock Sold
1961, but this-mav be
-the
on
Grether and
Dubuque
estate
real
'Poor's
earlier estimate
an
repayment of debt,, addition of
technical
and
$1:19 in the previous
months.
Tittle
a
local
general round of increases
and
of
Electra-Tronics
litiga¬
rates. ;Ip February
gas
number
a
and industrial
the
made
creating
of
of
tor
showed
and
the
ler, Washing-'
microwave
Ton, D. C., is
H. Struve Hensel
further
a
Hel¬
&
decline to 80 .cents in -the fqllow-/ a 'former Assistant Secretary of
ing year. During 1954-55 earnings Defense, and is-presently a direc¬
in gas rates was initiated to cover
interconnection
Baur
The A rate1
year
to
being
Iowa, the
to
par¬
•■subject
course
to the individual
period.
Waterloo
in Iowa
in
steam
Omaha, (instead of operating some
of its -older units, with an .esti¬
mated
saving of about $100,000
for
set-up
there
generating
power
obtains
"Northern
jurisdiction .and /-subject
long
that
amount
of
cost
FPC
city and coal
is
cheaper. Thus, Iowa Public Serv¬
ice
with
pipeline
tie
winter
prices,
somewhat
ticularly
this
the
/the
raised
regulatory
public.
Mr. Hensel, a
partner of the
.law " firm;/ of
Hensel, worn
in
ing
gas
use
company
supplies'from
gas
the
to
years,;last June, .by a vote
of
about .12,000 to
4,000. Share
earnings were $1.03 in 1950 when
the .company
was
able to earn
and
Natural Gas.
taken
excess
will
these
of
service
for
heating. The
its
Missouri
over
efficient
an
in
be
delivering
by
half
over
161,000 ' volt
tie-line
between
Sioux City and Qnfiiha was com¬
pleted last year and is now in
summer
applied
already
have
communities
these
in
mers
in
all the service area.
5,000 new gas custo¬
than
More
of
gas
the
shares Offered
cents of The increase «-is due to the
.
its
practically
V" /,■'/
by.:-.
company
erating
ties
22
1961
company
panding
capacity. A $24 million 138,000 kw
power iplant is being built on the
Sioux
of
has (been .ex¬
operations
to
cover
40 additional towns, mak¬
ing the total 100, thus covering
capacity is 272,000 kw and
indicating; substantial
take care
outlays.
to
expected
City fran¬
gasmnd electricity
for 18
made
construction
for:
distribute
both
chise 'for
for calendar
unit. Internally ?gen¬
cash plus bank »loans are
and '50,000
extension, of its -Sioux
rates, earnings for The 12
:/y;w
expenditures during
presumably due to
are
for The (Company
will be used ,by the./company for
gradual gains, with $1.24
reported Tast year, this.year with
larger gas sales and higher gas
:
9
—
pro¬
Will
erated
the
Power
last year's peak load was 207,000,
Missouri
18
at $10 per share is being
Peter Morgan & Co.,
by
New York City and associates. Of
the 'total, >115,000 are being sold
vestor
further
12
In-
Corp.,
made
which
recovered
15 v':
Aberdeen
by
is
generating
about
its ;power,-obtaining
from
—
13
Kennedy,
President of
Public offering of 165,000 common
shares
of
Precision
Microwave
certain stockholders. Net .proceeds
the construction of the 138,000 kw
*
balance
heavier
The
Obviously, The gas heat¬
company
___
1964———
ing load is important.
The
$7 Million
3963—I-;.—
reven¬
i:
-
.
..
—-
1962.——.--
/miscel¬
<1%
and
.
1961—
(includ-.commercial,
22%
.,
I960.
are
rural,
residential
60%
are
lows:
industrial-
commercial,.16%
and 7%
ues
revenues
residential
48%
60%
steam
S.
Inc.,
-
electric, ,-38% /igas and
Donald
grams,
fied
000.
by
problem
muni¬
a?:
announced
involved. However,
Iowa (Public -Service; obtained an
portion of the co-op system,
petroleum gas is -sold in -two near Waterloo, from its most ef¬
municipalities in ilowa; steam and ficient plant^herq, with reciprocal
hot water-heating service in four; service.
and water in two. Total popula-'
The; company's construction re¬
lion served is 'estimated' at 492,quirements are estimated as fol¬
sometimes
cipalities
will
;
is
where .rate /regulation
se¬
permit the company to .'-serve the
in South Da¬
seven
in
chises
Company and
increase
National
First
was
have
these
of
many
the
Estate Trust
finally been approved.
; .;v.vv; - *
The renewal of municipal fran¬
Mississippi River plants
should
how
clear
ot
Trustees
offset
been
now
by rate increases through it is not
this
Microwave
higher gas rates went irlto'
effectTate in 1959, adding $835,000 The election of iH. Struve .Hensel
as
Chairman
of 'the
Board
of
to Ithe - cost of gas, a substantial
part - of this has
Iowa Public Service
Precision
.
while
ELY
BY <OWEN
Hensel Heads
Sioux^
court decision Ts
a
Thursday; November 9, 1961
.
.
with
by
per
Troster.
York
Singer
City
class A
Weissberg
share is being
and
&
Co.,
associates.
Proceeds will be used by the com¬
pany, to
complete
of
hotel
two
leans
arid
purposes.
for
other
;
-
.
the acquisition
properties,
•
repay
corporate
.
.
..-.
The company of 680 Fifth Ave.,
New
York
properties
upon
City,
owns
and will
completicn
eight hotel
own
of
ten hotels
current
fi-
mrncirtg. Authorized stock consists
of
5,000,fOO
class
Yd k
cla3s B'shares,
Dean
and
upon
91,GOO
A
and
of which
will
be
100,000
L680,493
oh/standing
completion cf this sale.
Volume
THE
v
194
Number 6106
The
...
MARKET;.
.
Commercial and Financial Chronicle
BY WALLACE STREETE
,
eluding
AND YOU
.
stand
what
' '
were
new
out
market
con-
trading
picking
after
numerous
special
slim handful of
a
Situations
S5$*
work
had
done
the
"for more^than''a
month)
v,
/ ;
good and long
a
til early this year
of
out
ran
the
run un-
when the play
steam
uiictcai,
interest tjciibcicu
centered
me:
burnt:
some'
uii
on
back
were
_
„
^
Bag,
ircura,
luaniuufau-v
was
some
a
merger cropsuch
such mergers
"
'
oing-
up.
not
Recently
fared
too
>o
well
one
the
of
the
larger
industry,
paper
oL'«?o •>/
i+
or
u
JX
_
earnTngs fn
all
the
and
Trust Co. of St. Louis.
atttc,
Stifel,, Nicolaus
e^ec^ec^
&
Co.,
Inc.,
Chairman ml; ; the
—
.
Mis
.
......
...
;•
downs
Pa. ■
Livingston, Financial Editor
Edi
elected
were Albert' E.
Gummersbach.n Dempsey-Tegeler
&
Co.,
Inc.,. Vice-Chairman;
Costigan,
Edward J.
Edward
rotating demand and
oughly successful manner.'There
at
Arthur A. Christophel, Reinholdt
drugs, glass stocks,
oils and-specialties
of the
some
few of the
in-the highpriced section where stock splits
likely
are
a
the favored items
were
when the going was good.-.
.
7;
radical turn is expected
that
estimates
some
are
Sears
around
ings' to
thai
:
With,
today
accounts for 5%;of
the general merchandise business
done in the country/ This indiits
cates
.;
down
at
that
..
15%.
least
price boosts
new
cations
:
be
and
'is
business
Governors
picking
J
.
°
up' lt; anticipates a good rebound
next year.
tremendous-stature-.in
;
than
not only the retail business, but
rr,
not, despite the groping for likely can-
among corporate giants generally.
[Th° views ™P™sed
rfi/iatoLC
didates
Qoovo
little
Rails-were
mixed
times
more
than
the
in/JncfriQle
industrials.
A
were
constantly
in
amrvncf
among
utilities
few
better
A
demand, to keep the averages for
.this section nudging to new peaks
for
modern-day readings..
,■'..:
•
Not
tain
making the
uncer-
time, with
valiant
more
the
stay
is
down
now
r*vta-
cus-
chain of stores
Bankers Association,
Members of the Executive Cornof the Mississippi Valley
Group are Louis Lanford, Hill,
Mr.
Crawford & Lanford, Inc., Little
will
demand around for
of
It did achieve
ing
occasional post-
an
ilists >of.
the
on
highs,
new
which is good conduct
for-it since
many
problems of disposing of its
huge
bundle
shares
still
are
solved.
of
General
not'completely
;
re-
for
operator
a
tion
in.
set
left
It
mild
a
rather broad
correc-
of
them
far
so
its -insurance
is
an
offer to sell
solicitation of
nor a
any
without setting
wander
signals. V
There
was
^
.
much talk
the
ket .and
v;■''''n-.77
101
...
•...
.
_
10,000
for
trade
lion
and
quarter in
•
r 7
a
mov-
fanfare
showed
a
dollar
commitment of better than
transaction.
were
also
some
mil-
a
this one
-y7:'
few
of
back when a new brSind was -
shining success story for long.
in
promises
what
be
to
much "talk that
doldrums
stemmed
part
from tax
cleaning
in
up,
year-end
be
would
either
selling and
which,
unusually
But
count.
if
early
there
•
on
is
any
the
*
a
Price:
Copies of the Prospectus
states
years
early
those
who
gone
new
Bioren & Co.
This
securities.
the ratios
change
in
confident that better
ahead.
brand
above
favored
odds
top
which,
breed
a
awhile.
reaction
the
an
if
low,
the
early test of the
successful,
-eould
better market climate for
particularly
since
end rallies are the accepted
times
far
more
ket
than
not
year-
.
at
nor a
solicitation of
offer to buy
an
any
of these
made only by the Offering Circular.
COMMON
STOCK
(Par Value $.01
Per Share)
sharp
with
fortunes
the
alter
-
t
,
the
out-
Offering Price: $3.00 Per Share
in
mar-
Retail Giant
give the market some fea¬
issue
that
demonstrated at least
This retailing giant has
'.
tion. Amerada
was
once
the
Then
immediate
slipped
ground.
In
into
the
•
,
recent
showing
a
•'
:
'
'
•
"n
*!'*;.
•*
Copies of the Offering Circular
from such other dealers
as
may
may
,
-
1
4
.: +'t
'
■
be obtained from the undersigned and
lawfully offer these securities in this state.
s,
Kerns,
Bennett & Co., Inc.
post-war
the delight of its followers.
it
'
darl-
comoanies
in^ 01 tne investment eoippan
the
.
partial re-
a
investment
in
••
•
already has
turn to the glory of yesteryear is
Amerada in the .neglected oil sec-
•
tures, including for a change Sears,
w
: Return to Glory
Another
.
and
sell
Universal Rectifier Corporation
other
Any
Some of the store stocks contin¬
Roebuck.
to
November 9, 1961
sharply.
years
ued to
offer
100,000 Shares
.
.
which
sell.
would
thing
history.
Stirring
an
The offering is
-average
only slightly" under-its peak,-and
well
its
new
look
'
industrial
the
•With
Edwards & Hanly
Chace, Whiteside & Winslow, Inc.
expenses
-
shares
are
legally offered.
Rodetsky, Watker & Co., Inc.
NEW ISSUE
jn the
oigaret
saw
is neither
announcement
but, conversely, promises no dramatic sales increase at the moment either.
signs
were
be obtained only in such
Draper, Sears & Co.
Coburn & Middlebrook, Inc.
will both
inline,
brand, which
keep promotional
year-end work being done
markets
share
per
mi,.i
against
it leaves
less in the way of sell-
And
value)
in
year.
ing and switching to be absorbed
arrive.
par
new
a
when the actual year-end markets
validity to the opinion,
of the
may
$10
where the securities may be
.
Rittmaster, Voisiri&CoiC;
meantime, Lorillard offers
a
yield of well past 3.%%, which
j,s above average in today's markets,
and
is
reasonably priced
that much
STOCK
Morgan & Co.
Kerbs & Co.
v
;
the business
The company
all-out in promoting
«
this
hasn't
recent
large
introduction
a
far
so
Housekeeping
also
was
($1
At
the
moment,
Lorillard's
Kent brand is on an even keel and :
accounting for 70% of the sales k
but with nothing dynamic about it.
Lorillard, however, Was first out:
major
.
There
the
165,000 Shares
Peter
whlch had »t,s day in fame a
.
.
Year-End
ISSUE
unusually
tccl1A„
Ibb Livib«
NEW
-
new-brand promotions
large blocks in preferreds, includ- bY the cigaret industry. The new
ing those of Sunray Mid-Conti- one is its larger-size, York brand,
"nental Oil and J. I. Case which the new size being dubbed 'impe¬
ls not the normal habit for these rlaL
and which has been the only
There
>
COMMON
appearance
ing
narrowly since its
days of early' this year,
...
8,11961
.
7 Something of. a question mark.
of'-revived-js Lorillard in the cigaret section, h
Telephone,, which has been
„
of these securities.
any
Corp.
.
Interesting Cigaret Item
•
a
buy
next year,
off
mar-
and
„
Busi-
j
for further dividend improvement V
ol large
:blocks generally lent some weight ^uc.-.a suc.cess that 'the shares
to
the
thesis.
Staid
American Lorillard in the market were
on
offer to
-
in "the
institutional 'interest
an
Microwave
affiliate, Allstate, which last year
accounted for some 10% of the
trading range in which industrials
could
Securities
only bythe Prospectus.
Precision
plenty of
a
the
in various service rfields, the chief
routine
"September before
Men
...
in
Re¬
sponsibility of
Livingston
7
an
Sears is not a high-yieldiitem,
rally that would have <ncr -is its price tag anything like
a
J. A.
,
November
significance. 'fTh'b Srfrhrgainf'.But since it larded its
market has been lolling in a trad- <cash payments
in
1956 with a
ing range showing no intention of
.stock dividend dhe record
either testing the late-September has been one of steady improvelow, or conversely of trying to rnent in tHe ca*h dividend each
'reach
again
the. all-time peak
vhmh, with business bublevel
that
was
posted in early bling along, makes it a candidate
only
"The
-
foreign
in
-
subject
be
Ethical
1
This announcement is neither
The offer is made
budding competitor
reported?<profifcs<
.
So far there has been
room
Motors
company,
important
fields, and
Nov.
Living¬
ston's
Scherck, Sr., Scherck, Richter Co.;
.
large group of sub-
investment
ih el d
e
10, at the En¬
gineers Club.
mittee
sidiaries that makes it something
an
b
Friday,
the
around
efforts to join in when there was
quality issues,
of
y
more than merely
big retailer in this country and
is
ah * important
manufacturer,
a
tment
ness."
a
kingpin in
la
nrt;
-7
■
fourth of total sales as-it has built
a
fh-
to
Investment
Women
about /a
to
•
the
nve s
Philadelphia
author only.]
times,
nation. But it is
an
most of the
course
du Pent
Uncertain
pursued
of
ry~i mm
ovnraeeoj
I
Association
in this article Rock; T EUig Barnes> Merrm
?, not-necessarily at any time com- Lyncli, Pierce, Fenner & Smith
Clue With those ot the
LshTOTllcle*
wun inose °f tne
Chronicle." Tnrv' TVTnrman TT!
jnCij Norman E. TTpitripr
Heitner, Vafpc
Yates
They are presented as those of the Heitner & Woods; Gordon
tomers steadily, and its mail order
business which once was its main-
up
Chemicals
Chemicals
unmindful
lioc
A
Sears has moved nlncaf -fr\ ifo
closer to its
,
of
luncheon
a
meeting of the
& Garcjnerj an(j Joseph A. Glynn,
Jr., Blewer Glynn & Co., were
named members of the Board of
indi-
A.
speaker
guest
D.
have afflicted retailers, and Avpar»Q rps:1llfc Qrp
investors' hopes for them; and has- L
J
s results are shown.since
gone about its business in a thofr the company itself expects earn-.
action, to rebound from the de-
no
J.
of the
Evening Bul¬
letin, will be
and
pressed levels to which they had
sagged. Foods in general were in
-
Phila. Inv. Ass'n
was
:
Jones & Co., Secretary-Treasurer,
in
;
>
.
_
when
ups
Mercantile
s™- LOUIS, Mo.—John W. Bunn,
improve its productivity and Others
and, 'in
in
and
Ark.;
Rock,
'Sdhweppe,
with
tune
iact, a couple that seemed-prom- earnings potential which program
ising have been dropped.
77 was
not\completed
until
last
' 'Sears as a going concern has "year; And with sales off this year,
ignored
-
Little
N.
6issfpi Valley Group ^ of the In- fJlQ
others lathe paper industry. The vestment Bankers Association of AU
others in'the paper industry. The
company-several years ago. set out America at the annual meeting. PHILADELPHIA,
mcic
wtTtnmeSme nfy»
hope of
in
Harry
.
15
Sullivan, Jr., Dabbs Sulli¬
Co.,
oils
other
7.
long dormant item that offers
„
Dabbs
of
bellwether
strength
able to muster.
Clining
have
.
Some of the glamour items that
had such
ui
of
a
as
the
features
and
up
is
been rather neglected recently
the
van
Union
Interest in the stock
peaks and making it
as
general
producers
tinued to quicken this week, with
(2079),
'
back¬
7
sessions' it* has
been
persistent, strength in-
New York 4,
52 Broadway
HA 5-9696
N, Y.
'<■
n.
16
(2080) j
The Commercial and Financial Chronicle
STATE OF TRADE AND INDUSTRY
Adds to Staff
Continued from page
Carl R. Hill has become associated
with
Bohmfalk
&
Co., Inc., 51
St., New York City, in the
trading; department.
Harvey
S.
Broad
Kupferman
in
firm-
has
the
joined
also
investment
the
research
Chrysler
Corp.
A
5
plants
above
continued
steady production through Nov. 3
although a few scattered worker
result
reported
were
minor
of
local
the company's new
the
issues
was
at
on
South
Ind.
Bend,
five-day
a
Packard
-
also
program
this
the
Of
comparable
week's
output,
General
Motors accounted for
7
The loadings
of
crease
Same
L
b
u m
United
Oct.
Were
in
Week
10.5%
1960
production
e rr
States
the
28, totaled 237,160,000 board
compared
with 229,778,000
feet
board feet in the
prior week,
ac¬
to reports from regional
associations. A year agp the fig¬
ure
board feet.
225,662,000
was
and
cars
represented
increase
an
10.2%
or
sponding
There
in¬
an
in
or
reported
cars
revenue
highway trailers or highway con¬
(piggyback) in the week
Oct.
21, 1961 (which were
in. that vweek's over-all
included
This
total).
was
increase
an
of
49.6%; Ford
Motor Co. 29.7%; Chrysler Corp.
12.4%; American
Motors 6.7%;
put climbed 5.1%, shipments ad¬
cars or 9.4% above the cor¬
responding week of 1960 and an
and Studebaker-Packard 1.6%.
vanced
increase
out¬ 1,115
Compared with 1960 levels,
and
10.5%,
orders
rose
in
Business
Failures
From Prior Week
THE DAYTON POWER
LIGHT COMPANY
AND
DAYTON, OHIO
157th
Common
regular quarterly dividend of 22c
per
the
share
on
the Common Stock of
Company, payable on December
1, 1961, to stockholders of record at
the
close
business
of
on
November
casualties
317
in
the
GEORGE SELLERS,
the
8%
lifted
above the
businesses
more
than in prewar 1939
succumbed
when the toll
318.
Casualties with liabilities in
Secretary
of
cess
3, 1961
rise
occurring in the similar week
year and considerably above
1959 level of 265. Also, some
last
was
13, 1961.
November
304
Inc. This
moderately
Bradstreet,
from
climbed
$100,000
last
33
week
ex¬
to
and
40
edged
slightly above the 38 of this size
a
year
under
the
in
Failures
also
ago.
with
$100,000
losses
during
rose
week, reaching 304 from 271
previous week and 279 in
the
1960.
numbering 43
even,
in
failures
the
prior
week,
held
as
but
about
against 42
they re¬
mained above the 37 last year.
Electric
Output
Than
The
amount
distributed
NATIONAL UNION
Fire Insurance Company
The
company
declared
energy
by
at
and
kwh.,
Electric
15,396,000,000
to
Edison
the
133,000,000
that of the previous
Output
above
week's total of
was
15,263,000,000 kwh.
kwh.,
1,023,000,000
or
7.1%
NOTICES
DIVIDEND
cash dividend of
a
Five Cents (55tf)
a
1961
share
on
229,778
225,662
235,641
217,868
213,019
227,055
_
Shipments—.
Orders—
_
_
233,449
209,250
Week
1960
Same
Of
on
road
1.1%
The
the
below
previous
this year.
in
the
are
most favorable year-to-year
find¬
1960.
The
week-to-week findings follow the
January,
since
in
These findings are based on the
weekly survey of 34 metropolitan
than 400
mon
truck
at
more
terminals of
carriers
of
general
com¬
freight
throughout the country.
Week
Declined
Below
the
Loading
the
dips
week
5/10ths
noticeable
quotations.
On
stockholders
the
close
of record
of
at
business
v
Oct.
the
totaled
Association
Railroads
a
28,
of
announced.
decrease of 3,226
cars
Holding
ard Oil
owners
of Stand-
Food
Jersey) will share in the
2 per cent common
earn¬
com¬
mon
ings of the Company by
a
div¬
ness
by
Directors
1961
and
on
the
15,
A dividend of 62Vi^ per
share
||
i|
stock of this Corporation
common
lowest
1961.
November 1,
2.8%
to
stockholders of record at
§§
H
close of business November 30, 1961.
for
the
the
Wholesale
since Aug.
$6.07
About
|i;
the
in
13,
remained
cost.
of
meats
and
similar
the
in
at
unchanged in whole¬
quoted for
oats, hams,
corn,
potatoes
cocoa,
lambs.
1
tal stock.
Bradstreet,
Price Index
Dun
the
resents
November 3, 1961
total
sum
1961
is the 79th consecutive
in which cash dividends
of
31
cost-of-living
is
'to
index.
show
Its
Buying
Ended
Slows
dividend
slackened
pace
in
retail
of
apparel
ings
activity
these
offset
in
year
weather,
higher than the same period
the four weeks end¬
ing Oct. 28, a 3% increase was re¬
ported
above
the
1960
period
9%
last year. For
65 cents per share
Declared: November 1,1961
trade
uneven.
Jan.
increase
1
sales
period
comparable
Oct.
to
over
28, a
the
in
1960
of
was
recorded.
Small Business
Investment Co.
Of New York, Inc.
Common Offered
Dillon, Read & Co., Inc. heads an
underwriting group which is of¬
today
(Nov.
9)
875,000
declines,
higher
Record: November
to
D. H. ALEXANDER
Secretary
&
week
2%
than
spot
Dun
.
the
from
in
Payable: December 13,1961
17, 1961
common
general funds of the company and
consumer
last
ended
below
year,
estimates
Nov.
to
levels
INDUSTRIAL EQUIPMENT
•
MILITARY PRODUCTS
by
Regional
by the following per¬
offices
^
;
in
located
New
in
168
com¬
York
State.
Seven of these banks
are
a
part of
the
York
State
Morgan
come
has
New
application to be¬
bank
holding company
whose
Corp.,
a
been
York
by
Banking
the
approved
State
New
Board;
a
similar application is pending be¬
the
Federal
Reserve
Board.
Upon completion of the sale of
the
875,000
of
the
the
shares,
stockholders will
then
27
bank
11%
about
own
outstanding
common
stock of the company.
Rexach Const.
of
200,000
Rexach
ccJm-
Construc¬
Inc. is being made at $10
share, by an underwriting
group headed by P. W. Brooks &
per
Co., Inc., New York City and Cia
Financiera
de
Inversiones, Inc.,
San
Juan,. Puerto Rico:-
Of .the shares
offered, 60,000 are
being sold for the
140,000 for certain
holders,
including
and
selling stock¬
officers
and
company,
directors of the company
of
64.4%
retain
shares after
the
who will
outstanding
completion of the of¬
fering.
Rexach
of
Construction
Co.,
Inc.,
San
Juan,- is engaged in con¬
struction
of
industrial
plants,
commercial
buildings,
hotels,
single family homes, multi-family
residential
buildings,
highways
bridges. In addition, the com¬
0; Mid¬
ment
West South Central —4 to
of
tion Co.,
pany
Central
offering
shares
mon
and
North
"fO:.
of 40 Beaver St.,
company
munities
and
East
small
to,
and for general
Albany, N. Y., was organized by
a group of commercial banks and
the
present stockholders consist
of 27 commercial
banks having
to
—2;
loans
of
concerns
corporate purposes.
according
collected
Bradstreet, Inc.
1
2%
estimates varied from comparable
1960
making
The
purchase
other securities of, and
or
business
centages: West North Central —6
■xwmmmmx-
shares of Small Business
Investment
To
in
ranged
•
•
from
while
furnish¬
home
decidedly
was
a
turned
The total dollar volume of retail
(New Jersey)
period last year. In the preceding
week ended Oct. 21, sales were
Stock Offered
for
autos, both new and
used, and in television and stereo
equipment continued to climb.
HOUSEHOLD APPLIANCES
City for the
28, were un¬
changed compared with the same
Public
The
•
Standard Oil Company
Oct.
1
Nov.
purchases
in
the
week
ended
Wednesday,
Nov.
1, with total
sales
dropping back even with
interest
•
York
New
ended
chief
sale level.
while
paid.
in
week
the
general
trend of food prices at the whole¬
ago.! Buying
THE SINGER MANUFACTURING COMPANY
rep¬
of the price
raw
lacklustre with the limp
•
have been
the Federal Re¬
department store
to
System
sales
Inc.
foodstuffs
and meats in general use. It is not
pound
per
C. Allan Fee,
President and Secretary
373rd
year
According
serve
fore
&
Wholesale Food
Consumer
the
of 65i per share of capi¬
raw
general
However, higher prices
lard, cottonseed oil,
•
of record
1961
Oct.
ing period in 1960.
292
two-thirds
Week
II
third
1 and off
volume in the similar week
November
the four-week ; period
28, 1961, sales ad¬
3% over the correspond¬
ended
the
year ago.
a
1961,
RUBBER
IN
last
In
year.
of stock
week,
from
a
function
Vice
1961
period
like
the
com¬
For the week ended Oct. 21,
sales were 4% higher than last
will be available for the
steady
level
has been declared payable
By R. L. NCller,
Secretary
2,
THE GREATEST NAME
shareholders
rate
November
payable December
11,1961
to
19,
year.
Index
steers, while three items de¬
clined in price—rye, bellies and
||
The Caei!"at Tire i Rubber Co.
Board of
November
December
1961 to stockholders of
record at the close of busi¬
idend,
declared
stock
day last
Price
and
||
stock
dividend, payable in
a
to
Price
The
15,
Daily
fell
Index, compiled by
Bradstreet, Inc., continued
at $5.90 on Nov. 7. This was the
use
STOCK DIVIDEND
Company (New
1961,
year.
Dun &
NOTICES
the
Food
consecutive
foodstuffs
on
Index
Unchanged for Third Week
in
ended
Price
Wholesale
December
November 15, 1961.
The 700,000
with
the
for
rise
28,
Company
of
New
(1930-32-.100) from 273.30 kYork, Inc. at $20 per share.
in the preceding week, but ex¬
Net proceeds from the sale of
ceeded
appreciably the level of these shares will be added to the
COMMON DIVIDEND No. 114
DIVIDEND NOTICE
pared
2%
a
Oct.
ended
fering
Monday, Nov.'6, the
Wholesale
1%
freight
revenue
cars,
was
of
Common Dividend No. 168
to
In
prices
there were
in corn and
263.12 in the similar
v
Preceding Week
of
American
dividends:
1961
lower
also
its
scrap,
Freight Car Loadings for Oct. 28
day declared the following
15,
week
271.08
handled
tonnage
to¬
share on the
Stock, payable
the
re¬
leVel.
ago
year
to
quoted for steel
flects
INCORPORATED
December
July 13, the index
considerably
above
comparable
rye
ACF INDUSTRIES
Common
Price Index
Mid-July
Since
level since
by the ATA De¬
partment of ResearcRvand Trans¬
port Economics. The report re¬
conducted
areas
Vice President and Treasurer
22 y2 cents per
com¬
commodity price
dropped steeply this Monday
to
271.08, reports Dun & Bradstreet, Inc. Although at the lowest
were
Directors
week
wholesale
sale
of
reported
dex
level
addition
years.
*YEAR
The Board
current
Reflecting a substantial decline
price for steel scrap, the gen¬
this
previous
rail¬
S.
Conjimodity
Lowest
mained
in
U.
I
Week
1960
Department store sales on a
country-wide basis as taken from
the Federal Reserve Board's in¬
2%
generally
declining
tonnage which has been found at
of
season
class
54 one year ago and
corresponding week in
)
the
eral
these
stated
ATA
58
the
corresponding week of 1960, the
Trucking Associations,
announced.
Truck
tonnage
DIVIDEND
December 1, 1961.
in
1959.
Inc.
of
the
pared with
American
was
above
of
systems originating this type
traffic
Wholesale
week
increase
an
4.7%
or
were
50
payable Decem¬
1961, to shareholders of
21,
cars
for
2% Over
Sales Increased
to¬
corresponding period of 1960 and
135,661 cars or 40.4% above the
corresponding
period
in
1959.
week
The dividend is
record
21,200
tonnage in the
week ended Oct. 28; was an even
7% ahead of the volume in the
truck
Intercity
capital stock.
ber
471,459
Nationwide Department Store
vanced
for the first 42 weeks of 1961
There
Intercity Truck Tonnage for Week
Ended Oct. 28 Was 7% Ahead
This
the
44.7%
or
1960
237,160
1961
647,549
November 7, 1961,
Fifty-
on
electric
of
the
Oct. 29,
Oct. 21,
Oct. 28,
Production
ings
cars
Cumulative piggyback loadings
taled
of this
Directors
of
Board
mated
according
kwh.
160th DIVIDEND DECLARATION
Higher
Week
the electric light
and power industry for the week
ended Saturday, Nov. 4, was esti¬
Institute.
of Pittsburgh, Pa.
7.1%
1960
in
for
feet
board
weeks indicated:
pattern
Canadian
of
in
figures
the
are
in the week
ended
preceding week, reported Dun &
Dividend
The Board of Directors has declared
a
turned up to 344
Nov.
2
from
ures
Following
thousands
Commercial and industrial fail¬
4,024
above the 1959 week.
8.5%.
Upturn
of
y.,w
The
more
Mountain
+4;
to
0
-f-1 to
corre¬
tainers
ended
Pacific
+5.
+ 3;
;
one
New
+1;
to
—3
England —2 to +2; South Atlan¬
to
tic and East South Central —1
(during
1959
13,033
were
loaded with
Atlantic
dle
59,773
of
the
above
week
the steel strike).
ended
week
the
in
in
percent be-
one
26,742
cars
or
4.3%
corresponding week in
above the
cording
week.
NOTICES
the
Shipments
Above
in
contract with
UAW. Studebaker
of
-
of
lpw the preceding week.
1960,
Lumber
the
as
that
1960 week.
,
walkouts
Corp:,
department.
DIVIDEND
five-tenths
or
Bohmfalk & Co.
Thursday, November 9, 1961
.
purchases land for develop¬
and
sale
or
lease.
'
Number 6106
194
Volume
.
.
The Commercial and Financial
.
...Ahead of the News
includes Allen
,
&
Co.
&
:
■;
Co.
and
"
„
Finkle
rights
the
on
ational
American
ance
will
be
added
to
facilities
insur¬
and
Hemphill, Noyes
the
general funds of the company and
will be used for general corporate
To Stockholders
club
brokerage.
Stock
Exchange began Nov. 8, 1961.
Proceeds
17
ownership and operation of recre¬
,
Trading in the debentures and
Rights Offering
BARGERON
CARLISLE
(2081)
United Improve.
& Investing Corp.
FROM WASHINGTON
BY
Chronicle
San Fran. Branch
including expansion of
its mortgage origination and serv¬
icing,
and
development" and
purposes,
Improvement & Investing
United
Corp.,
By
of plugging tax loopholes
way
there
is
ment
on
move¬
greatly increase the
to
operat¬
American firms
of
taxes
revolutionary
a
ing abroad. Several proposals are
Senate
to make
full 52%
corporate rate in addition to the
taxes they have to pay the foreign
the
in
pending
these companies pay the
Great
Britain,
tin
mean
Canada
France,
Germany, for example,
West
and
would
This
countries.
are
from
received
U.
scribe
owned
S.
Department of Commerce
has reported that in 1957, of the
25%
or
more
•
We
/
etc.
bauxite,
import
from
United
iron
the
shares
r
rate
of
of record
to
and
stock
common
Nov.
principal
$100
The
held.
offer will
ore,
expire
on
subscription
Nov. 22, 1961.
The underwriting group
owned
States
of its
100%
at
amount of debentures for each 70
ownership, only 6% were sold in
the United States.
at
6
American
1976
15,
A warrants
series
abroad with
goods manufactured
a
holders
debentures
subordinated
Nov.
due
The
even
to
vertible
abroad.
firms
offering rights to sub¬
$2,500,000 of 6% Con¬
is
headed
firms in Latin America.
is
by Sutro Bros. & Co. and
SAN
FRANCISCO, Calif.—Hemp¬
hill, Noyes & Co., members of the
New York Stock Exchange and
other principal stock exchanges,
apartment house construction
business.
,
has announced the
The company of 25 W. 43rd St.,
New York, is directly or indirectly
at
111
office
in
California.
engaged in diversified real estate
activities
including
The
mortgage
and
for Institutional Sales.
suburban and urban land
ownership
of
$t., its third
(
office will be
new
headed
rate
utives
community development, in¬
vestment
Sutter
by Charles W. Knapp for Corpo¬
Finance, and Roger E. Towne
origination and servicing, title in¬
surance,
opening of an
office
were
with Schwabacher &
rental
Both
formerly
Co. for
eral years.
properties, property management,
they would pay 51 to 53% of their
net
earnings to those countries
then
and
the United States
would
make their
pay
which
52%
total levy
digenous
business
can
317,
75% in contrast to the
paid by the in¬
companies. No Ameri¬
amounts
lower
operate
could
successfully
under
such
effect
compete
or
now,
conditions.
the
Under
law
in
American business firms with in¬
vestments
abroad
the
in
tax
have
paid
the
countries and
foreign
allowed to deduct that amount
are
from
the
taxes
paid
this
in
they are
not required to pay any tax on
their
foreign
earnings
in
this
Another thing:
country.
country until the money has been
received by the parent company
in
this
country.
the
pending
Under
BELL
proposals
they would pay annually whether
they had received the money or
not, or whether they ever receive
it.
SYSTEM
,
The supporters of the proposals
claim that the
existing exemp¬
tions
considerations
special
were
granted
originally
to
abroad
investments
of
#/:
encourage
American
capital but, whether such invest¬
ments were good or bad in the
past, they are now harmful to our
foreign policy and particularly to
our
domestic
IPated
economy.
Senator Thruston
B.
Morton
of
the
cudgels for the American firms,
says that this tax treatment of in¬
Kentucky, who has taken
abroad
earned
come
up
is
not
a
special concession and was adopted
as a matter of equity.
American
fund,
invested
been
he
abroad
economic
sound
says,
have
because
What is the Bell
of
System?
opportunities
there and
can
participation by Ameri¬
firms in these opportunities
has
become
major
a
American
economic
increasing
the
sale
source
strength
of
—
of American
Ti„
Bell
possible communications services at v
relay and laboratories and manufac¬
viding for additional revenues to
the American government.
turing plants and local operating
complements
It
our
foreign
policy in that it encourages eco¬
growth and political sta¬
every
three—that results in
good service,
low cost, and constant
improvements
possible price.
But desire is not
companies and millions of tele¬
phones in
with
the lowest
System is cables and radio
goods, creating jobs and wages
for American workers, and pro¬
dreams and
part of the country.
.
-
enough. Bright
close
teamwork
in the scope
high hopes need to be
and usefulness of
telephone.
brought to earth and made to work.
all
between
your
I
nomic
bility and, therefore, the cause
in
freedom
many
nations,
of
the so-called
Our whole
foreign aid policy is geared to
encouraging private investments
abroad
and
taking
it off the
shoulders of the government.
Stanley Surrey, Assistant Secre¬
tary of the Treasury for taxation
in the Eisenhower administration,
ticularly
those
undeveloped
in
areas.
1958:
said in
credit
there would be simply no inter¬
national trade or investments in¬
sofar as the United States is con¬
"Without the foreign tax
cerned."
The Bell
par¬
/
hundreds of thousands of
and
who have invested their
know today,
and
sav¬
than two million
more
than
that.
It is
an
A
you
It's the
a
'
the separate
'y;
time-proved combination
operations in
with the best
7
tasks of everyday
Transistor
the
to
or
develop
by satellites—the
System has the will and the
way
get it done.
And
a
spirit of courtesy and
manufacturing and
ice that has
organization—
; portant part
one
opera¬
invent
Bell
-f-
of
special skills needed to
communication
fitted
one
tion—or the
*
-
nationwide whole.
of research,
idea that starts with the
policy of providing
■
the benefits of all those parts
The Bell
idea.
an
the many
parts of the Bell System and not have
together in
System is
f
You could have all
ings in the business.
It is
No matter whether it is
equipment
and still not have the service you
employees
men
more
women
You could have all the
System is people...
come
to be
a
serv¬
most im¬
of the Bell System idea.
■
the argument that
companies
operating
Answering
American
abroad
to
BELL
exporting their goods
country in competition
domestic
trade,
Senator
are
TELEPHONE
SYSTEM
this
with
Morton points
out that the largest
proportion of our overseas
invest¬
development of
raw
materials ^ not produced in
this country in sufficient quantity
to meet our domestic needs. For
example, nearly 60% of the total
imports of metals and minerals,
ment
is
in
the
American Telephone & Telegraph Company •
pany •
New York Telephone Company
Telephone Companies
Company
pany •
•
•
•
Bell Telephone Laboratories • Western Electric Company
•
New England Telephone & Telegraph Company • Southern New England Telephone Com*
New Jersey Bell Telephone Company • The Bell Telephone Company of Pennsylvania • Diamond! State Telephone Company •
The Chesapeake & Potomac
Southern Bell Telephone & Telegraph Company * The Ohio Bell Telephone Company • Cincinnati & Suburban Bell Telephone Company* Michigan
Indiana Bell Telephone Company
•
Wisconsin Telephone Company
The Mountain States Telephone & Telegraph Company
•
•
Illinois Bell Telephone Company
•
Northwestern Bell Telephone Company
The Pacific Telephone & Telegraph Company • Bell Telephone Company of Nevada
•
•
exec¬
associated
Bell Telephone
Southwestern Bell Telephone Com*
Pacific Northwest Bell Telephone Company
sev¬
18
(2082)
The Commercial and Financial Chronicle
;
.
.
Thursday, November 9, 1961
.
tion and its complex investment how
far margins
may
be. ex¬
implications is offered by Phillip - panded. ;
;
L. Carret,
President of Pioneer /•;. W me places Va,
premium on
Fund: "This report is written un¬
growth stocks, the extent pf that
ca
...
.
Cut in Churning Market
Continued from page
1
i
the June quarter and the peak of
46.0%
in
set
ratio
This
quarter
that
March
the
during
the
41.4% registered
September quarter of 1960.
used
\
' '
A
diversified, managed mutual fund
.
.
;
with
the
.
Ask
your
dealer
-
^Frnid
for
jj^
principal /
,
mutual fund
a
free pro-
booklet,
or
coupon
mail
information
me
on
a
|
free prospectus and further
Institutional Growth Fund.
'
.
I
| Address.
I
I
City.::.
.
its
State.
CFC
I
96%
as
concurrent
of
But these
sales of its shares.
of
the
to
only
number of
outstanding shares during .the
quarter.
I
| Name.
much
new
r§K)fl(S@§c Mo"i
Please send
Stock
Fund; Energy Fund, Funda¬
Investors, Group Securi¬
Common
Stock, Investment
The
contrast
between
these two ratios in large measure
reflected
decline in
substantial
a
the fund's sales volume—an event
stockholder
investment.
end
pressing
money
Among
companies,
the
the
been
new
which had
''growing pains"
funds,
suffering
from high redemptions, halved its
redemptions
in
September
the
quarter.
As
sices
funds
of the
redemp¬
one
suffered
nearly 14 times its concur¬
during the September
quarter. In the reverse direction,
General Public Service, a closedend company, sold $23.9 million
sales
additional
shares
rights offering
(thus
through
..a
diluting the
equity of non-subscribing share¬
holders). We have seen no reports
of
other
shares
repurchases of their own
by
the
closed-end
group
to
the
of
a
Iron
new
Substantial
stocks
mon
balanced
can
of unexampled
era
It
seems'
Eaton
Mr.
Pros
Carret
and
was
toward
investment
decisions,
assets
of
Line
calculable
and
stocks
were
follow¬
the
Axe-Houghton
Fund
sellers
of
companies
Adams Express and Lehman
.v;:"' V^V,;VV.V-j;'V.V®,
The
„
stocks
common
closed-end
*
Investment,,
Massachusetts Life Fund, National
the
Corp.
"B,"
Trust, and Se¬
Shares.- Large
American
among
BUYERS
Commonwealth
cult
*
.
•
(This
The
Industry Speaks
A representative pragmatic re-.,
action
the
to
international
the
situa-
offensive
"growth
in the coming weeks the over-all
picture will be clearer and more
calculation
of
selected for their INCOME and
Send
the
that
purchase of 17,000 shares of high¬
trend
into
the
assumption which
be valid.
future
is
an
may or may
not
One stock with
a
rae
a
Name
activities
to
another
ord
with' the"
because
same
rec¬
growth
the
probabilities
of
City ..'
...
cyclical
earnings due to.
upswing of business
a
continuing
a
"A- company
Boeing, • 18,400 shares of Lock¬
heed,
and
25,500: shares
of
United
on
Aircraft, -while
44,000 shares
American
thermore
large
a
with
; more
effi¬
expand its earnings
improving
margin but there is
its
a
profit
limit
to
as
linois
Central,
Investing for
as
shares-of Il¬
32,000 shares of
different
stocks
altogether; - in¬
cluding U. S.'Steel and Columbia
,
risk
«»'
'
'
ft
• Balanced Series
W
M
•
•
Preferred Stock Series
Income Series
1
t
Nationally distributed through
investment dealers by.
•
Center Plaza
open-end management investment company
which endeavors to achieve possible growth of
capital through
Fund.
long-term
selective
progress
Pa.
Dividend Series
industry and to provide
*
-
--<
•
Growth Stocks Series
participation in the
business and
of American
a
fair and reasonable
capital invested,
Tor prospectus see your
•.
i/i vestment dealer
above.
send the coupon
Philadelphia 2,
^
Stock Series
An
.current return on
Penr*
#
IS:
Delaware
Management
:
|
:
3
.
• Bond Series
involved
Co..
_
1
possible,
PROSPECTUS ON REQUEST
•*
Mutual Investment Funds
.high
as
...
.
.
or - - ^... -
-
-
||
Information Folder and Prospectus
;-
■*"
on
Request
-
r
NATIONAL SECURITIES &. RESEARCH CORPORATION
f.
li
i'M'
" '
*
' «'<'
'
of
30,000 -shares
FUND
IP
fur¬
buyer
hand,' it completely eliminiated 11
commensurate with
the
was
new
Southern Pacific, and 14,000 shares
of Southern Railway. On the other
t;
CURRENT INCOME
also add¬
of North
It
Aviation.
railroad stocks via
true growth trend.; of
Atchison, 15*000
plants and good production
through
another
fund
This
holdings of
stocks,
through
initial
purchases
of
52,000
shares
of
ing
"A
methods may
-..
shares, commitment in.
Industrie s,
aircraft
be mistaken for
cient
State.
,....
14,000
Litton
-VyVV
company.-
;...
Address
ranging from underwear
toys. Dreyfus also made an ini¬
tial
continuing into the
company.
future may be much more likely, "growth"
heavily increased its
for the first than for the second
•
PROSPECTUS ON REQUEST
& Reading,
successfully
adding chemicals to its diversified
than
rapid expansion of earnings
due to some temporary merchand-;
ising or other advantage may be
prospectus and literature on The One William Street Fund, Inc.
flying \ Philadelphia
enterprise is
which
record
of 10%-growth in the past may
justify a much higher valuation
mistaken for
APPRECIATION possibilities
encouraging." This fund during
quarter
remained
in
the
"growth" field
with an initial
growth
necessarily depends on the
past record, and any projection of
trends
y
,re
Stein,
"However, it is quite possible that
the
growth trend.
•
Howard
says'
to
market
Tri-Broad-
of
•
may
LEHMAN BROTHERS-One William Dept.
44 Beaver Street, New York 4, N. Y.
outlook,"
there
tend
the
over
a
invest¬
"Currently
which
-
Administration Vice-President.
"An increase in
®
cautious
factors
shadow
a
-
exhibited
a
Blbdgett,
are:
"Any
attitude:
many
17
reason¬
■-;■
Dreyfus Fund
unwonted
cast
stock"
/-
the
about
which is
-
ment
in
hence,
is
Among his caveats
Group.
P.
earnings,
quite
are
Thurston
officer
senior
street
price
commitments dur¬
on" the
that
v-:.1
*
is
months
stock
able."
reassert
Inc.)
debunking
six
average
their
to
new
Likewise
a
Investing in. diversified securities
earnings
earning'
influence in recent weeks."
Fund;
Fund., and Welling¬
ton Fund.
Among the open-end
stock funds, net sellers of equities
were
the
following:
Chemical
Fund, Dividend Shares, Massa¬
ing among the open-rend, balanced.
;
is
defended
by George A.
Bailey, President of Sovereign In¬
Foundries, Handy & Harmari, and
Income
hand, "growth"
mathematical
projec¬
tion
several
times
seemed
power
fund made
Value
other
jaundiced
"glamor"
and
the
factors
com¬
Fund,
the
vestors:
"Stock prices, currently
selling at 23 times current earn¬
"growth"
worship
department;-' ings, do not appear to be cheap
"Wnereas '• a
few
months
we
ago- when
apply
the
historical
'glamor' and 'growth' were the: measurements of value. However,
magic slogans underlying many on the estimated annual rate of
the open-end
included Ameri¬
Investment
successful, is compelled,
judgment with': sen¬
sible diversification to spread in¬
evitable risk."
'
i /
•
his
officials casting a
eye
among
funds
be
following
Cons
of
one
fund
Peter Paul
of
back
On
"Growth"
5
Howard Balanced
&
Mutual
were
common
sellers
net
to
to
tal disaster."
Business Shares, Boston Fund,
lected
Particularly large net buyers of
Fund
is
may
your
for
•"
net
STOCK
INCOME
both
on
Curtain
management more sen-'
Natic-nal Investors, the growth
sible, and certainly more; satis-; fund in the Tri Group, made in¬
factory, to invest for a probable- itial commitments in International
normal future than to try to findNickel, Interprovincial Pipe Line,
impossible safeguards against to-' Roadway Express and Upjohn.
Public
SELLERS
chusetts Investors
during the past quarter.
funds:
assume
prosperity for mankind.
pending investment in equities.
tions
of
is to
that, rea-i analysis can - avoid some of the
prevail ^in the -Kremlin.; pitfalls,- but not all. And even the
the .technological advances: most experienced
investor* if he
usher in
Service, most of the new money
from
the
rights
offering,' was
placed in short-term governments,
STOCK
in
will
so,
which have been achieved
Euro¬
General
far
-
ing the quarter in American Steel
extreme case,
an
smaller
rent
of
case
a
closed-
American
how
on
is: willing to project
one
this
The
If
their popularity
new
incoming
as
in
premiurp depends
the future
a
two
to
countered
son
having nothing to do with re¬ pean Securities,' American Inter¬
demptions. In fact, the quarter-- national, Dominick Fund, General
American Investors, General Pub¬
to-quarter
ratio
to
outstanding
lic
Service, Niagara Share and
shares
actually declined during
U. S. & Foreign Securities showed
the period, from 2.1% to 0.8%.
larger equity purchases than sales.
Lazard Fund, one of the large
In
relatively
Dein^are
well
as
reflected
the
nuclear hole- to
growth stock investing than to
sensible, attitude to-1 any .other
investment
problem.
ward investment problems in the*'
Day-i-n and day-out'! study, ex¬
face of perils ..never' before en--■
perienced judgment and careful
Co. of
funcs,
by
powers
canst.
cf
as
waged
t.es in the event of
mental
ties
the "Berlin
Practically speaking, there is little • growth trends are helpful," "Mr.
point - in trying -to appraise t:.e; Blodgett declared
further, "but
possible residual value of secur'i- there is no more magic an answer
Fund,
expansion of the so-called growth
had to face redemptions equalling
Diasmwo®*
1". ,.\W:i
Delaware
Eaton '& -Howard
Dreyfus Fund,
average
The unrealistic aspects of con- •
centrating on the percentage of
redemptions to sales may be il¬
lustrated by the experience of one
largest stock funds. During
the September quarter, this fund
the
t
Fund, Affiliated Fund,
Fund,'
0.8%
quar-;.
•
of the
below.
85 Broad Street, New York 4, N. Y.
Aberdeen
Bullock
amounted
preceding
in the
"
as
I
ratio's
ter.
and descriptive
spectus
Roe,
&
Among the
redemptions
.
objective of possible
VfjfS
Stein,
and
: Balanced.
of
growth trend.- This* in turn,
of our era is not depends on the state of
confi¬
optimism.
A pro¬ dence for the future and if con¬
fessional V investment
manager,,, fidence is lessened tbe. premium
however, must avoid, so far as is on growth stocks in general can
humanly possible, emotional ex¬ decline..
tremes of optimism or pessimism.'
"Mathematical
approaches
to
giant
America, Investment Trust
Boston, Massachusetts Invest¬
ment Growth Stock, National ipvestors, One William Street, TVRowe Price Growth Stock, Stein,
Roe, & Farnham Stock, United Ac¬
cumulative Fund, United Science
Fund,
and Value Line
Special
Situations. The particularly large
net buying of common s:ocks by
some
of the foregoing attests to
the continuing aggressiveness and
from 5.2%
.
the
as
redemptions were 4.0% in
September, quarter,
down
-base,
the
'
..sales
concurrent
Established in 1939
With
of outstanding shares
logically in lieu of tee
more
Boston,
Farnham
war
conducive
smaller
of
the number
of
taan" open-end stock funds, large net
in the buying of equities occurred* at
also
was
quarter.
September
shadow
Certainly the prospect of
nuclear
Income,, George Put¬
Fund, ..Shareholders' Trust
nam e
the
crisis.
C Securities
:
,
.
der'
Established 1930
420 Broadway, N«w York
®
5, N. Y.
'
'
1
194
Volume
Number
Commercial and Financial Chronicle
The
6106
Broadcasting, while reducing hold-
it
other stocks, among
them,
Arherican
Machine
&
Foundry, Gulf Oil, Philips' Lamp
Works, Westinghouse, and Ana¬
Bethlehem Steel and Minnesota
of
"
of
ings
Also
skeptical
growth"
"glamor-
-
the- Lazard Fund
"In the choice of sepu-
fund
>
-
•
Second
General Motors, v,.-;
was
level, of equity mar-
sold
to
taken by Ford
Third
two.
by
du
place
P^qus quarter;-^
agements and sold by only two.
In
ard
by six?
\
.
-iCelanese
General
acquisitions.
new
vy
:
Cautious Giant
defensiveness
was
highly
selective
and companies.
four
or
*
more
stocks
on
common
.
/ by
Fund's cash and government bond
;
presently
backlog
10%
totals
of
7%
on
compared with
resources,
May 31st." Significantly, Welling¬
ton
.made
no
in
whatsoever
hand, it en¬
On the other
owned.
different
Machine
American
Eastman
stocks,
&
Foundry,
National
-Kodak," and
J.v-i-..,
was
of
Securities, the Fund
•
LocRReed
and ^ind/or
or
fund'
more
Dis-Favored Stocks
;
contained.
MASSACHUSETTS LIFE FUND
DISTRIBUTORS
*
50
our
(Germany)
SKF
*
(Sweden)
,
Dresdner Bank
f
•
.'
•
The
interest
lessened
of these
.
-Y:;;
v
.
,
Shareholders'
in
soqie
Trust of Boston
foreign stocks is exempli-
^hTfact"tjTat "theTe'was
of
•
a
managements, with
U.nil.ever ,N. Y.
A*
'•
x
*
:
■
*
ATTITUDE
i
;
TOWARD
no
diversified
INDUSTRY
GROUPS
appreciation possibilities in the
new frontiers pf economic
The following
r
.
,
,
■
names
analysis of port¬
> folio, changes, reflected in our
tabulation starting on page 20 of
transactions in over 430 stock is-,
com-
■
,
development.
:
,
frpspectuses may fre
obtained from
CHASE
buyers.;. The absepce of ^ com-, P^res
,
Investment Qealers
.,
number of
based on the
is
sues,
...
investment
seeking capital
program
:
•
'
jmfpQsumz.:. I
v-
.
'
■
TheChaseFund
A
'
list'of seven
future needs.
An indirect in¬
activities was in-,
Dreyfus' purchase of
by
pro¬
and income to meet
.;
*
eign Power.
•
'
investment
for current income and
possible growth of capital
during
;
Philips' Lamp Works
This
the
11,0.00 shares of American & For-
•
«■
the buying side)
0n
stanced
"Atti-
Royal Dutch Petroleum
•
(aiSo
balanced
gram
terest in foreign
Farben Bayer
Montecatini
A
compared vqth fOUr transactions
jung quarter.
>
;
Mass.
.
v.
;
(Britain)
USINOR (France)
Unilever Ltd. (Britain)
Groups"):
Industry
9,
.
(Germany)
& Halske
Shell T. & T.
Groups,"
section below
Stati Street, Boston
Sony (Japan)
Changes
^ Broken Hill Pty. Ltd.
;
IBM, the market's Number One
"satellite," .was thp jnost, widely
sold issue, holdings being reduced
ten fund
Prpspectys frq'tp yoyr
Investment Dealer or
(Holland)
(Holland)
(Britain)
Rhine-Westphalia Electric
:*•
^in our
Holdings
Stock
Trustft
t,
Founded 181S
Grocers
Siemens
transactions in indi--
Toward
tude
quarter list of stocks
four
dfnbtcutnce
with a li^t,'pL |5. issues in. managements buying or selling,
Nation-Wide plete elimination of its holqingsl wRich there was more than one not pn the number of shares or
in the group ^ ahy funR seems .to jpdicate fun(j transaction during .the June the dollar amounts involved.
During the September quarter,as
follows;,.
•
•
V. • '•
.
: fund
also advocated by
Bullock
Hugh
by
London
which
in
are
Common
in
managements without any sellers.
by
....
Caution
bought
including
Fuel Gas'.
our'June
issues
Investment Management-
v
Phelps Dodge had also appeared
on
>
;
the ;height-
vidual issues captioned,
of
eliminated large blocks
tirely
nine
commitment
new
stocks not already
Celanese,
eAUt&UtcAuaetfy CfCoafiitad
(SOuth
(Holland)
negligible with the'
.means
;"*
.
(Britain)
.
Berlin and the
over
tabulation of
in,.-.
(
Legal & General Assurance
i
(Britain,) ;
-;,y
.European stoek mar¬
on
these stocks
.
^
Pennsalt Chemicals
Phelps Dodge ;;
Southern Railway
t
,
there only one transaction (on the buy-,
was
more Than
one transaction.
ing side): in such a pivotal Ger(Details of the transactions lh; man stock as Siemens & Halske,:
/
Only
considering
following
;
Upjohn * .':
no
:
Kon. Zwanenborg
ket- Nevertheless, the interest of
tR-e funds in foreign stocks was
Pty. Ltd.
Moore Corp. Ltd.
„
c
sell-offs.
..
.:
(South Africa)
Hoogoven Steel
'
KLM
1
1 ened tension
•
International Nickel!
The
also
nine
opment
|
Lockheed Aircraft Y
<
in short-term
Government- bonds,
U.-. S.
individ¬
Great Universal Stores (Britain)
spmewhat, .a quite natural devel-;
Central
Illinois
were
June qqgrtpr list of
"
/
Public Service
Broken Hill
selective basis and in¬
a
creased investment
an
for each investor.
der
van
Free State Geduld Gold
Interest in foreign stocks which
gradually broadened during
preceding quarters
abated
.
L.
(Holland)
Africa)
.
.
American Can
Arizona
%
Policy Toward Foreign
YY •"
Securities
Y1;
>
,
Allegheny Ludlum Steel
During
Traqsmigsion
our
;v.:*
Celanese
reduced
moderately
oh
ual trust account
.
issues,, bought, Rqd
fund manage-,,the
A. G. F. Industries
past three months, your Fund
the
'
Fabriek
Grin ten
"wallflower" stocks.
ments, met no selling:
changing
varying outlook for different
industries
cipal in accordance with
IvCustom Credit Corp. (Australia)
nesgee
.
by
Chemische
Qnly Cprn Prpdqcts gnd Ten-.
.y
Y
_
The following 14
busipess and political climate and
the
providing
for distribution of income and prin¬
..
Elliott-Automation
Eurofund
'
'TINAltflMQUSM FAyORlTJES
recent
in
the
reflecting
months,
•
any buyer:,-
de .Beers
giant Welling¬
..
been
A balanced mutual fund
;
(Britain)
Banco de Viscaya (Spain) \
"
Biyvooruitzicht
Gold
(South
Africa)
manage-
more
or
-
Y r 7.
Western Union Y
Fund, which had this to say:
stock market advance has
ton
"The
four
Reylqn
-V-v vl-v-K
"Tennessee Gas Transmission
'■
.
Upjohn
Another advocate of caution and
.
,
Beecham Group
Minnesota Mining & Mfg.
Natiqnal Biscuit
: ■
■■ ..G.yv-
Mpore Corp JLtd.
Phelps Dodge
:•
Polaroid
,
Allianz Insurance
"
by
Life Fund
? e fund management topk place
;
,
,
50,000 Rayonier con¬
stituted the
.
insurance Co. of North America'
•
.
sellers'
outnumber
managements
Pacific Coal & Oil, Stand¬
Oil of Indiana, and Western
30,000
- >
addition, transactions-by only
The * Exiles'.• .... -1 the following stocks.:
(Germany)
following, nine stocks were
IBM
-
stocks buying
following
the
Texas
-
selling.
1
*
VCorn Products
went
Pont, which had baen run-:,,;
■
and
1
sold
ner-up in the
du Pont was acquired by tep rngn-
liquid re¬
serves."
Among this fund's re¬
ductions
or
eliminations
were
Commonwealth
Oil
Refining,
maintain; appropriate
Bancorporation.
the
.
:
kets, historically high, apd inter¬
national
political
uncertainties;
we have endeavored, therefore, to
Motors
During
quartet j££>een.the most widely sold.
during the
.place
them.
buying
ucts and General Public Utilities
,,,{^1,,,
tKi
oc
by its rights offering
during the September quarter,
In the other foreign issues mentioned-above, with the exception
June quarter, RCA, Corn Prod- of Royal Dutch, buying exceeded
ITi0V^d down f.r®m 'v top ments without finding
slot ln the 12 managements- ^as:
Jun? quarter and
'
" "
bought by
"Some measure of caution is dietated by the
'
.
Purchased" by sold fund only qne./ > \
15-- by manage-r: The
ments while
reported.
Mansfield
and
*
achieved bv
was
have sought value rather
nnniilarit.v "
Mp^rs
Hf>t-'
popularity,"
Messrs.
Het
tinger
Mnir
bought stock
we
than
than
*
*
19
heightened
Mining & Mfg. were each sold .by
six fupd map^gemehts, with no
Popular Issues
rr™
of
prudent to have reserves"
buying power to take advan'
'
'
' '
tage of-temporary weaknesses"
are
managers:
rities
seems
and Kennecott.
conda
•:
17
(2083)
or
*'■ V-
DISTRIBUTORS
.
r
\
*
CORPORATION
75 Federal Sf., Boston 10, Mass,
/
bearing .his/name,
"With
,
stock market at levels
the
agri¬
cultural equipment, airline, auto-;
mobile, bank, beverage, chemicalcontainer, finance, railroad and
managements favored
_
rapproxiipating its all-time highs,
preciatiop
as
the principal motive
for the partial liquidation^.,'
Buying interest in Broken Hill,
Y the Australian steel producer, was
.
-
but
to
lesser
a
purchased,
Also
stocks.
textile
•
extent, were
tS^
air¬
■i
there is
craft, auto equipment,
coal, cop-:
m
per, office equipment, paper, raiL
road equipment, and rubber and
.
tire
mm
"
:
I
'•
mutual
investment fund
elec¬
tronic, food, insurance, machinery,
qatural gas, oil, radio-TV, retail*
and steel stocks.
In steels and
building,
aluminum,
;
TRAINING
ON£
stocks.
A mixed, neutral, or highly se¬
lective attitude prevailed toward
V
drug,
named
"
*
tobaccos, the mixed attitude was
slightly slanted toward prepon¬
derance of issues
sold
issues
over
bought.
^
IN OUR
1.
eral—and MUTUAL FUNDS in
YOUR
particular.
.
.
MEN
PASS
THE
NEW
The
■
Mutual Funds-on
lack
tive
some
appointments that stick-Complete Presenta¬
tions-Handle Objections-Close the Sale. Make
THE MOST
DEVISED
COMPREHENSIVE COURSE EVER
BY MUTUAL FUND
EXPERTS
representatives-new or experiencedcomplete this course their sales productivity can
increase sharply-making them more valuable to
you, more profitable and stimulating to themselves.
REQUIRES NO EXECUTIVE
ceed
a
can
| WASHINGTON 5, D. C.
j
send
me
Without
Course.
Name.
TIME
extra
charge.
~
•
*%"•:*
your
option. No
\
stocks.
buying
*
Transactions
■
*
the
~
~
are
. -
-
.
:'V1 high energy fuels; missiles and other
:
•
*
space uses
for energy,- etomic energy;
111.oil and
gas; electric and gas utilities
;.+ ;iand other activities related-to the
Favored
'i | energy fields.
Groups
Agricultural Equipments
Moderately Bought
-Title-
in
this
group,
SEND FOR FREE PROSPECTUS
Write Department
which
C
•
Distributor
RALPH E. SAMUEL & CO.
heightened during
quarter. The num- J ^.........
' * Members N. Y. Stock Exchange -' *'
ber of fund managements buying
||| 2 Broadway, New York 4, N. Y.
Deere doubled, although on the
Tel. Dlgby 4-5300
other hand Wellington and Leh¬ Ii
June
quarter,
the September
Address.
.State.
man
eliminated their large blocks
"
Continued
on
"
in I +; Energy Fund is a mutual fund investing
for
growth possibilities in electronics;
#
in
-
1
On the
occurred
(exclusive- of IBM).-
Interest
City-
| I CHARGE OF ANY KIND. Shares
'p| offered at net asset value.
profit-taking in
as the drugs
and the insurance
IT IS THE ONLY FUND CONCENTRATING
iI IN THE ENERGY FIELD THAT IS OFFERED
j 1 WITH M COMMISSION OR SELLING
issues
growth
=
Firm.
of this dynamic course.
complete details with no obligation. Con¬
included at
continued
rela¬
indeed
a
had returned to relative favor the
self-study course. Men with a will to sucr
succeed beyond your fondest hopes when
tractual Plan chapters
„
;
qlso shows
pnd
interest
of
mm
™
the growth sections comprising the
banks and the office equipments
; • '
: .. . , v !\
,
charge or obligation please
full details on the Mutual Fund Training
< •
■■
'
Gentlemen:
It
other, hand,
.
they have had the advantage
Send for
c
AND COMPANY
I WOODWARD BUILDING,
i
When your
This is
such
Members: New York Stock Exchange, ...
1 Associate Members: American Stock Exchange
1$ '• :i.
the deglamorized
and
stocks
electronics.
|
III
buying pf
cyclical issues,- except, the steels;
with lessened reliance on defen¬
sive
I KALB, VOORHIS
list suggests re¬
foregoing
newed emphasis on the.
.
2 Proven Sales Techniques as, possible plane.
the highest they apply to
.
EX¬
N.A.S.D.
AMINATION.
representatives to discuss mutual fund
investing with confidence and authority-helps pre¬
pare new men for the required rigid examinations
upgrades experienced representatives.
y;
Permits your
,
OPINION THIS COURSE WILL HELP
page
20
\
K
only
I!
20
The Commercial and Financial Chronicle
(2084)
tional
Funds' Portfolio Turnover
Growth
Fund
4,000 shares).
each
•
buying
,,.v'
/
Beverages "Hit the Spot"
Cut in Churning Market
Once
again,
not
Continued from page 19
105,000 and 6,700 shares, re¬
spectively.
Wellington
likewise
was
the only seller of Interna¬
tional Harvester
(28,000) which
of
tions
As
all
Dreyfus the largest buyer (52,000),
followed by Delaware and One
William
before, some of the interest
motors spilled
over into
each); all being
new acquisitions. Second most fa¬
vored aircraft was Lockheed, with
auto
equipments,
although
only
quite
moderately.
Best
bought was Borg-Warner, whose
of
acquisitions by Fidelity Capi¬
(40,000) and Dreyfus (18,400)
among the buyers; there was no
seller of this issue. Also relatively
tinued
new
tal
well
bought
United Aircraft,
was
again with Dreyfus a large initial
buyer (25,500); while the Funda¬
mental Investors Group sold 22,800
shares. Most widely sold aircraft
stock
was
cent
Martin, prior to its re¬
with
American(which was also sold
merger
Marietta
heavily); the United Funds Group
eliminated 180,000 shares of Mar¬
tin while Fidelity Fund sold 37,500
shares.
In this
cyclical group American
best liked, with
Airlines again was
Investment Co. of
lead¬
America
none
of
ward
A.
report:
Financial and Insurance, we
the
bought
an
additional 20,000 shares
of United Airlines.
Automatives
'As
in
- -
-
Top Buying Targets
the
preceding ".quarter,
this group furnished the two most
widely bought of all stocks. In the
June quarter, Ford was number
one,
with 20 managements buying
only three selling, followed
(17,600),
to
Vegh
own
stocks
have
purchasers of
primarily
the
trial
Stock
10
past
Index.
by G. M. with ten and three,
respectively. In the September
quarter G.. M. in the face of its
overhanging "divestment" compli¬
with
cations
on
and
12
15 buyers
only one seller, against Ford's
and
two, respectively. The
largest buyer of G. M.
this time
MIT (116,580), followed by
Fidelity (41,000 newly) and Lazard (30,000 newly). Of Ford, Wel¬
lington was the
largest buyer
(80,000) and MIT the second larg¬
was
est
(30,000); Financial Industrial
Fund
the
was
larger
of
the
(25,000): Chrys¬
ler, out of the running during the
June quarter, found
two. initial
buyers in Dreyfus'] (40,000) and
Fidelity Capital (21,400), while
only two sellers
Atomics,
Physics
posed of
all
American
its
Science
&
Motors,
dis¬
shares.
9,000
Of
Pioneer made
cal
suggest that
bank
over
moderate
recent
there
have
sold
basis.
We
are
good
be
a
y
can
on
companies such
stock during
quarter was Continental Illi¬
nois National, of which Fidelity
Fund
was
the largest purchaser
(26,500 newly). Next best bought
Bank New
the
on
York
United
(with Madi¬
5,000,
Chemical
Trust
(of which
Funds
Group
bought
15,000 shares), and Dresdner Bank
of
Germany (with the Stein Roe
&
Farnham
Group
and
Institu-
of
some
nance
Corp.
,
and
(of
bought
on
the
small
loan
Beneficial Fi¬
parent,."Beneficial
which Fidelity Fund
63^200
shares);
and
also
growing Western
NOW,
companies,
such
as
Great Western Financial
(of which
Investment Co. of America bought
20,000
newly, while
added 17,250 shares).
Glass
Wellington
Moderately
this
time
absent
from
the
quar¬
glass
group. New buyers of Corning inclued Institutional Growth
(5,000)
(4,500).
LibbeyOwens-Ford wes newly bought by
Lehman
and
National Securities Stock
with three other funds
(11,500),
increasing
garded
had
as
time
were
in
continued
the
to
be
re¬
discriminating
strong
eye.
demand
In
were
Incorporated Income Fund
its
International
list of securities selected for current income.
Nickel. Phelps had
largest buyer in Fidelity Fund
(13,300); and Nickel in National
Investors
Incorporated Investors
EST. 192S
(40,000 newly). Neither
by any fund. (Transac¬
sold
was
tions
in
the
aluminums
Office
Equipments
IBM
investment'deSfer.
Berkeley
Street,
Boston, Mass.
will
be
commented on under the
"Groups
Meeting Mixed Reaction.")
list of securities selected for possible long-term growjh of "capital and income,
200
General
10,000
53,200
IBM
been
41,900
52,300
•
—
244,500
„
'
this
during. .the
survey.
Best
quarter .has
earlier in
upon
liked
this group was Moore
stock
140,000
.
Airlines-.'-
Eastern
United
2
Air
Corp. This
on
page
1(1)
1
2,000
Lines:
None
23
—
V
None
1
2,000'
__________
Air Lines
American
6,000
2(2)
48,500
Ford
193,100
15(5)
•
294,780
3(1)
3
2(1)
General
.■
:
'j.
Motor
None
KD
2 "y ':
White
Motor
200
Trucks
55,000
:
26,000
.'J
Motors
Mack
16,600
:v
None
9,000
43,700
.
2(1)
Motors
Chrysler
61,400
I
14,000
—
i
•
Fruehauf Trailer
42,600
—_ _
)v'..
None
i None V
—
3(1).
•
,
Automotive Equipment
4(1)
2
45,100
M
Borg-Warner
Briggs & Stratton
,
19,000
;
Clark
3(2)
2(2)
17,654
Bank
3(1)
10,500
Bankers
3
25,500
Chase
2
3(1)
Industries
Stewart-Warner
:_w——
Roller
;
,
.None-
;
None "
_____
Thompson Ramo Wooldridge
Timken
2(1)
1(1)
4,000
-
-—J-—,
1
5,900
j
Equipment-!--
Houdaille
17,500
15,000
32,000
10,900
2(2)
1,200
—
~
8,200
,
None
None
9,500
2(2)-
None
None
None
Bearing
None
Banks
of
Hawaii-.
Trust—
Manhattan
/
28,000
Chemical Bank N. Y. Trust
Continental Illinois Nat'l B. & T.
8,240
None
2(1)
12,375
First National Bank of Boston..
23,878
First
2
500
1
1,488
13,200
3
200
1
Security-First Natl. Bank, L. A.
Bancorporation
22,600
1(1)
26,200
10,000
3(1)
National
Marine
2,000
20,000
31,000
1(1)
1
None
Mellon National Bank & Trust._
30,900
KD
1(1)
None
1,333
None
(ADR)
4
-i
None
2
930
42,000
Dresdner Bank
None
Bank
3(1)
City Bank, N. Y.
Midland
Western
1
100
1
Beverages
8(2)
79,419
16,800
2,000
5(1)
I
Anheuser-Busch
3
21,900
2
1
10,000
1
Bestwall Gypsum
L—j—__
•
Carrier
Certain-teed Products
' Copeland Refrigeration
Crane
Diamond NationalFlintkote
General Portland Cement
Georgia-Pacific
Lone Star Cement....
Marquette Cement Mfg..
Maytag
National Gypsum
National Homes "B"—:
48,915
3,400
44,600
9,200
10,300
1,000
48,900
2(1)
2(1)
2
3(1)
3
—
„
2,355
2(2)
KD
10,000
2
1,700
2,700
7,000
37,675
6
21,400
1
400
1
5,000
12,000
2
3(2)
1
1
2(1)
None
-
___
...
National Lead
Trane
U. S. Plywood..
Whirlpool
Johns-Manville——
Otis Elevator
U.S.Gypsum
Walter (Jim)— ____
Weyerhaeuser
16,100
2,200
13,000
15,000
None
in
large Canadian maker of business
Continued
5(3)-
!
.'
Airlines., i—„
.Northwest Airlines
-
2(1)-.
■3(1)
;
Automotive
2(1)
Liked
commented
kd;
;T
through conversion of bonds.
Delta
23,500
1
"Ex"-
Widespread partial prof it-taking
in
2
Dynamics.—. 18,700
American
148,000 f: 41,4007
5
3(1)-
"
:
Martin
;
♦Partly
3(1)
2(1)
i
;
None
9,200
6,400
1
v,
2(2)
Building, Construction and Equipment
June
cyclical favorites, this
looked upon with
a
more
relatively
PARKER CORPORATION
None
Y,
None
,4,800
Aircraft.—22,800
Douglas Aircraft——10,700
Uniformly Liked
which
metals
only two stocks, namely Phelps
Dodge among the coppers, and
THE
2(1)
1(1)
None
United
36,500
Y*"j
1(1)
None
American Aviation
Northrop
Piper Aircraft
,
were
mutual funds with two different goals:
A prospectus on each fund is available from your
North
1
500
Aircraft
3(1)
Liked
Differing from the June
ter, stocks sold on balance
much
a
Lockheed
*
1,000
_
5(2)
quarter
The Parker Corporation is distributor of
investing in
2
Boeing Airplane
Ling Temco Vought___
Sav¬
loan
&
older
as
The
INCOME LATER...OR BOTH?
A mutual fund
1.,
makers im¬
Metals Less
a
5(1)
2
4(2)
its
the fast
ings
Best bought bank
INCOME
investing in
4(2)
2
that
1
2,000
____
Aircraft
Airlines
Companies Still in Favor
feel
quality with promising
of increased earnings
purchased at such rela¬
adding
116,000
*21,600
74,900
86,300
7,597
: 7,800
6(2)
Attention in this group centered
primarily
the
son
Finance
Aerojet-General
Beech
•'
holdings and only Delaware
Fund closing out its 9,500 shares.
A mutual fund
6(5)
Sought After
Group Securities Common (15,000)and there was no seller of]
this issue.
-'G;
few fields where Stocks
Bankers Trust
7,000
75,000
2(1)
commit¬
new
their
ARE YOU LOOKING FOR
1
radi¬
tively reasonable prices."
were
International Harvester.
3(2)
2,000
of its
in
price,
prospects
can
2(2)
Deere
13,000
Aircraft and Aircraft Equipment
of
Containers
the last 10 years
yield
111,700
28,000
22,600
years
market
stocks
a
of
in
Mgts.
6
little
The
the absence of
increases
Shares
None
Demand for the
available in
with
added
then- disposed
newly); ';• G
price-earnings ratios presently
bank, stocks, coupled
it and
led Ford,
but
first
the- quarter. Continental was bought
growth rate in per share earnings particularly well by, State Streetof banks included
in the Index
(28,700) and by two funds in the
has been compounding at the rate; Group Securities combine
(21,000
of 8% annually, as compared with
newly);, its only seller was Tri5% for Moody's Utility Stock In¬ Continental (all
13,200). Ameri¬
dex and 4% for Moody's Indus¬ can Can also found a
large buyer
over
No. of
Shares
4(1)
at¬ proved markedly, especially for
in
tention
the
market
place.1 Continental Can which had been
Moody's Bank Stock Index shows a heavy selling target in the June
that
No. of
5(2)
;
-Sold-
No. of
Agricultural Equipment
6,000 shares; while Wel¬
lington sold all its 29,500 shares.
A large buyer of Monsanto was
Incorporated Investors (55,000
been
given
or mergers,
Mgts.
unsolved,
followed by
Incorpo¬
(13,000 newly). De
Mutual
ment
steady income and
increases, but
long-term growth
geen
(Purchases shown exclude shares
through stock splits, stock dividends, spin-offs
—Bought—
State Street with
dividend
excellent
man¬
No. of
eight buyers, which also included
Mining and Metals.
bank
indicate number of
of portfolio companies or via acquisition of private holding
companies. Number of shares bought or sold prior to a stock split
is expressed giving effect to the split.)
Second best bought chemical was
diversified Eastman Kodak, with
One William (15,000) leading the
having a present value of
$16,800,000
which \ amounts
to
10.3% of the total portfolio, ex¬
ceeded only by Public y Utilities,
concerned with
management
both
entire 5,000 shares, making it one
of the only two sellers of duPont.
stocks
recent years,
one
managements sold than bought
more
in parentheses
the stock from their portfolios.
received
rated Investors
investment in
our
Issues which
Numerals
'
by more than
agements making entirely new purchases or completely eliminating
improved prospects of favorable
Congressional action in the early
of
next
year.
Its largest
buyer was the Broadstreet Group
bank shares. Under the heading of
Funds Group sold out their 140,000
of
this
had
in italics.
are
apparently, thought to have
shares
the increase in
pattern has
one
again quite
buying, and
"Perhaps the most significant
change in our portfolio has been
"In
problem remained
but is
stocks is Ed¬
President
of
who
Fund,
>.■'
-
group occurred.
30,100
part
Merkle,
although two funds in the United
However,
con¬
■
prospects for bank
Madison
the
t
once
of
The top attraction in this group
duPont whose divesti¬
Particularly impressed with the
ing the buyers with 110,000 shares
shares.,
group
funds
selling.
periodic
funds, United Accumulative,
key
in favor,
number
a
and
Liked
Still Well
Airlines
dynamic
which transactions
Fidelity Fund with
was
remained
Sought
ture
This
in
Chemcials in Demand
was
Stocks
Bank
Issues
•
Investment Co.
America (30,000 newly).
(25,000
of
buyer
joined by its sister fund
Fidelity Capital (25,500 newly).
Pepsi-Cola was particularly liked
by Eaton & Howard Stock Fund
(10,00Q newly), with four others
also
buying and only Selected
American selling (10,000).
the
largest buyer
'.'--v. v' (July-September, 1961)
Coca-Cola
so
Largest
commitment
new
Pepsi-
only
more
Thursday, November 9, 1961
.
Changes in Common Stock Holdings of
71 Investment Management Groups
shares,
the
Still Flying High
again Boeing was favored
other
aircrafts,
with
Once
a
Demand
Some
in
over
record.
on
spot."
the
Coca-Cola
Automotive Equipment in
attracted four buyers.
Aircrafts
(5,000) of the two addi¬
even
"hit
the larger
Cola but
.
.
.
..==••
—.
None
2(2)
1(1)
1(1)
None
1(1)
1 . •
2(1)
1
None
1(1)
None
None
1(1)
4(1) V
fl
\
6,000* r 1(1)
43,800
—_—
V
None
9,000
30,000
30,000
None
3,000
75
37,000
2,300
None
5,120
None
None ]
5,100 '
;
2,400
1,000
27,100
3,000
17,000
37,000
12,600,
1
4(1)
2
3(3)
3(3)
2(1)
Chemicals and Fertilizer
3(1)
17,000
10,000
Air Products & Chemicals
Allied Chemical
______
24,450
5(1)
KD
:
Amer. Agricultural Chemicals..
3,060
8,200
50,000
2(1)
1
1(1)
~
Volume
194
—Bought—
Number 6106
•.
The Commercial and
■<
'
r
.
^/r°-of .Shares
-No,of
Mgts,
2(1)
91,590
35,000
Commercial
8(1)
2
Solvents.-.
Diamond "Alkali
l.
2(1)
4(1)
5(2)
r
-
•
•
•
2
••
.
2
4
2
v
2(1)
duPont
"
44,300
12,700
2,000
22,000
79,100
68,751
14,900
23,800
4,178
7,000
4,700
21,250
51,000
•
1
27,500
1,510
__
i
(ADR)
None
FMC
•
5,600
Freeport Sulphur.——.:
/
Monsanto
18,000
(ADR)____
Chemical
'
National Starch & Chemical
Olin Mathieson
Pennsalt
None
Chemicals
9,800
None
1(1)
None
None
Reliance
4,650
1
2(1)
5,900
500
1
'None
None
Fidelity & Guaranty
!_
Continental Casualty•—ex2——
'
21,300
3
i None
None
Fireman's Fund Insurance_—__
None
Insurance Co. of North America
67,000
10,900
3(1)
4(1)
15.500
2
600
None
50
2
1
2
1
Spencer Chemical
14,000
2
27,880
Stauffer
58,520
3(2)
5(2)
47,300
Union
5,300
2(1)
1,200
1,500
Carbide
United
Carbon
2
3,000
American
1(1)
4,300
Columbian
1(1)
1,000
;
Cyanamid
103,700
•
1
2,000
Connecticut General Life.
Insurance
Eastern Gas & Fuel
3
2
*
_J
1(1)
4(2)
Truax-Traer
.2,700
7,000
52,000
None
4(1)
28,600
American Can
4(2)
63,700
Continental
1(1)
3,400
1
3,000
7,000
Abbott Laboratories
5(2)
14,600
Mead Johnson
6(1)
23,800
Merck
2(1)
19,050
Miles Laboratories
1
500
1
Products
Norwich
Pfizer
5(2)
10,000
45,072
5(1)
13,500
Schering
Searle (G. D.)
2
1,0C0
6(4)
None
"
1
r^X 1
>rh
yiy ■
i
18,000
16,200
3(2)
5(3)
11,700
2
I
1
•12
7,000
"
.
3(2)
9
Consol.
12,375
Control
37,400'
1
Emerson Electric
135,800
4(:!:2)
-200
4(1)
700
Mfg
.1-
Minneapolis-Honeywell
'
21,900
Philips' Lamp Works (fl. 50)__
Philips Electronics & Pharm.Ind.
Sperry Rand
40,000
Litton
RCA
None
None
10,850
6(3)
None
None
.
2
*
None
•i
i
;
Metal
1
2
cfO'.L
Refining
Cable
St. Joseph
1
7,800
Kl)
1
None
i,_
None
None
___
None
3(3)
; 3(1)
;
2
6(2)
12,200
None
8,250
6,100
4(1)
Gas
Arkansas Louisiana Gas
Natural
1(1)
2(1)
,
AXE SECURITIES CORP.
|
None
National Fuel
Suburban
j
TARRYTOWN, N. Y.
j
None
Gas
Gas
1(1)
150,000
—
Propane
21,400
•;
Transmission_—
137,800
5(3)
At At
Texas Gas Transmission——
27,856
3(2)
Investment
1(1)
11,000
1(1)
18,000
:
3(2)
4(2)
42,750
\ 100
-
'
1
.
1(1)
'
Household
2,000
\ 23,500.
2(1)
6,000
9,875
— .
Financial Federation.
First Charter Financialt Great Western Financial.i___.-_
Heller (Walter E.)l_1,1—
i__
10,500
16.500
;
2(2)
__
Finance.
8,610
10
1,000
.
—
^Seaboard Finance
-
1
1(1)
' 1(1)
1 • ;
,
C ;T-
840
None
1
--None
Friden
Moore
—
2(1)
13,007
Register....
:a
3,300
4
29,400
Pitney-Bowes
None
Swingline
None
IBM
TELEVISION-
Amerada
Petroleum
Coastal States Gas
Continental
Producing..
_
Oil
_
Oil..
1(1)
5,000
-
Gulf
Oil—
29,500
9,000
Pure
Oih
Shell
4
1,000
26,500
35,500
8
63,500
27,600
58,100
18,000
5(1)
;
•j 3 V"'
i
2(1)
i 1
I 1
64,400
500
Armour
2(1)
6,700
...
!
54,500
Borden
2
13,500
Consolidated Foods
2
-
V
i'
—
.
Continental Baking..__——
5,400
29,000
...
1
None
_
None
1
1,975
3(2)
V
■
2(1)
,
National Dairy
14,400
-
1
-
2
None
2,200
-
"
1 3,000
>1(1)
None
—•
.
.2
36,000
1,500
,3(1)
132,500
5(1)
30,400
:
3
-
4(1)-
57,000,
4(1)
] 2
I
42,200
None
16,30.0
Biscuit---——
National
1(1)
_
.
_
-Ashland Oil &
Atlantic
4,828
None
None
None
Refining-—.
Refining-_
„
2(1)
None
A Mutual Invest¬
ment Fund whose
'
3,300
66,500
2(1)
3(2)
37,930
'4(1)
4(3)
assets
1-
•
ble
r
-
tronics field.
95,700
2(1)
2(1)
ord of this
18,600
4
your
Sinclair
Skelly OilStandard Oil
3(2)
-
(Ind.)~.
-
-
__
32,500
24,000
7,000
92.277
,
and rec¬
now
Irom
investment dealer or
115 Broadway,
3, III
New York 4, NY""
4
56,776
Name
3(2)
60,300:
16,83Qt-
Address.
2d)
2(1)
Continued
Shares
120 S. LaSalle St., Chicago
6(3).
10,000
-
Fund
Management Corp,
2(1)
.
1
:
Mutual
Television
3(1)
114,200
Oil
Get the Booklet-Prospectus
3(3)
16,442 >
and income im
engaged in the Elec¬
3(2)
93,169
possi¬
long-term
companies activity .;
15,700
._
primarily
growttr ofeapi-
rfat
*
■2(2)
41,500
are
invested for
None
,
94,500
r.
INC.
m
f None
58,800
None
None
i; 2
1(1)
-General Foods__---__._-._-_-,—.-
9,600
,
-..I—
Corn Products—__—
None
*
Oil
4,000
2(1)
None
2,100
Camp be U Soup—__
13,400
None
Products
Swift—
8,500 V Wilson
2(1)
None
Hunt Foods & Industries—•_
3,500
37,100-
_
None
1
1
4(1)
_
—__ .—
9,500
■:
2(1)
1
Shamrock Oil & Gas.:
FUND,
3(2)
14,465
None
60,000
1(1)
None
30,700
4
21,000
2
_
_
ELECTRONICS
1
22,500
72,700
Ohio
>
INVESTIGATE
10
12,741
72,800
3(1)
WHY NOT
None
None
28,760
>2(1)
Interest Yen?
None
None
Cash
ELECTRONICS
'
1(1)
12,000
...
Corp.
National
1
Oil
40,000
5
■
Food Products
4
.
Possibilities '*
500
2
None
None
None .'/< None
5,000
1
■
None
None
United Gas
i Tennessee Gas
58,100
11,000
9,500
35,000
None
None
Companies
I——"'
Distributed by
1
19,500
Gas
Addressograph-Multigraph
8(5)
3(3)
47,555
•
2(2)
i
2(1)
170,000
Natural
Consolidated
LTD.
2(1)
.
American
28,400
2(2)-
of preferred stock.
Beneficial Corpl
Beneficial Finance
C.I.T. Financial
Commercial Credit
79,200
3(2)
OF CANADA,
53,400
Lead
16,000
; 6(2)
3
GROWTH FUND
None
5
3(2)
v
None
1,500
3,700
—
'
AXE-TEMPLET0N
1>
'
•
Finance
I & ELECTRONICS j
CORPORATION
1
None
Office Equipment
1 3(1)
2(2)
"
!
SCIENCE
AXE
2
500
Climax
International Nickel
5,000
1
None
3,800
Electric
♦Through conversion
4(3)
19,000
Copper
Dome Mines.!
General
1(1)"
39,060
Electronic
Westinghouse
Kennecott
___
1(1)
20,500"
:
Transitron
10,045
2
29,300
Instruments_
12
•
_
Texas
None
None
;
__.
D
Square
4(2)
None
3,500
,
_.
Industries
4(3)
None
Dodge
___—.—
4,000
1
85,900
Ampex
42.000
4,500
j.
None
2,500
American Smelting^
Beryllium
Brush Beryllium
22,000
38,745
.4,000
5,000
9,300
'4(2)
%
600
21,363
2(1)
2(1)
None
15,100
:
,
American
21,000
8,800
3,000
76,200
1,000
1
' 3(1)
34,000
500
2(1)
-
1
None
3(1)
1
None
"
43,200
None
Microwave Associates..
14,680
.
i
22,800
International Tel. & Tel..
5,000
1
1,000
None
Hazeltine
88,800
1
Industries..
Data__.
General Precision Equipment
7,500
5(2)
,
General Electric
:
23,975
2
Electronics
"STOCK"
2
None
Natural Gas
Beckman Instruments
"B"
V 4 ■
0
Electronics and Electricals
2(2)
2(1)
:
15,000
5,400
2(1)
__
FUNDS: "A"
2(1)
Metals, and Mining—Other
1
2(1)
3(1)
Robbins—
THE
AXE-H0UGHT0N
2
140,250
—
41,000
176,400
104,000
&
.t
? ;M'.
3
Richardson-Merrcll
367
None
■?r:
2
Parke, Davis.—.
!
2(1),-
'
175,000
L
—
Phelps
'
r.
1
5,000
...
Cerro
18,000
•
2(1)
McKesson
1,600
None
32,300
Sterling Drug
None
1
:6
None
_1
;
1
3(2)
2(2)
None
Ltd
Anaconda
4,920
1(1)
.None
Aluminium
42,500
2
9,000
__
Upjohn
Warner-Lambert
r
Metals and Mining—Copper
2
None
•
NATIONAL DISTRIBUTOR
;•
1
3,500
;
——
Reynolds Metals--
2
l?y?
23,400
Syntex
104,200
15,000
1
—
Smith, Kline & French—.
28,000
1
5,000
l^one-
;
1(1)
: 6,000
Harvey Aluminum.
'
1
5,100
___
Kaiser Aluminum & Chemical-
■■
'V. :
1
2(1)
61,600
_
Machinery
■
Street
17, N. Y.
None
4,000'
32,000
&
2
1(1)
1,000
____^0it>^e
— —
—
11,000
11,000
2
2
None
2,000
Rexall Drug & Chemical.^
7,100
2(1)
(Chas.)
—
Aluminum Co. of America.——
6,200
2
None
;_
Pharmacal___
Leesona
National Acme
103,200
4(2)
16,900
Tool
Worthington
2(1)
1(1)
17,300
_
•-
42nd
1(1).
5,000
10,000
1,000
28,000
18,400
——
United Shoe
••!•■:•
500
21,000
East
Hew York
Metals and Mining—Aluminum
1(1)
10,000
.
'
None
Chicago Pneumatic
;
V1(1)
8,000
'J
None
13,200
Carter
Singer
•
700
2(1)
None
Bristol-Myers
27.600
Mfg.
Mfg..
None
KD
2
1(1)
Emhart
None
1(1)
Drug Products
4
of America
Caterpillar Tractor
Cooper-Bessemer
None
None
10,500
INVESTORS PLANNING CORP.
4(1)
60
—
None
13,200
Lily-Tulip Cup
■.?.
1
"None
None
Can_
9,460
3,500
5,900'
5,000
2
c
-
5
3,390
Kl)
1
United Electric Coal
2
6,600
12,500
____.
Blaw-Knox
33,100
2
1
Coal
Containers
2(1)
500
Kl)
1(1)
49,000
Travelers
Prospectus end Literature
'. \ '
from '■
None
None
-
3
Peabody Coal
26,100
23,8007
.
American Chain & Cable——
5,200
10,000 --'•Black & Decker Mfg
1
Coal
3(1)
Insurance
Industrial Equipment
4(3)
International Minerals & Chem.
TRUST
Machinery, Machine Tools and
4(1)
45,100
42,100
Carbon
—
Transamerica
1
1
Chemical
Insurance
Life
Aetna
6,000
2
6(1)
:
U. S.
6,000
11,000
2,000
1
?•'
Insurance
Insurance—Life, etc.
1(1)
•
2000
Haas
2,000
Glens Falls Insurance—
1
None
10 000
—"
Rayonier
Aetna
4,000
None
None
22,100
Casualty, etc.
&
6,000
None
'
GENERAL
2
1-2(1)
'i%: ..:■;
:u 'v-vt
1
%
Insurance—Fire
2(1)
'
3(1)
None
Purex
Rohm &
;
None
______
•
i
Pittsburgh Plate Glass
1(1)
1(1)
13,000
12,600
Owens-Illinois Glass
T
None'
94,800
Chemical
MGntecatini
1
None
Hooker Chemical
Nalco
None
3(1)
;
2(2)
9,000
9,500
Corning Glass Works—____—
Libbey-Owens-Ford
1,300
12,800
4(1)
3
2(2)
;
34,500
Farbenfabriken Bayer
100
v
Kodak
For Income
12,700
24,200
.4(2)
1(1)
5,500
_
Mgts.
Glass
\
21-
No. of
Shares
1
1
25,000
...
Eastman
'v
•
,
-SoldNo. of
Shares
Mgts.
2(1)
2,000
:
Dow Chemical
q/i \
2
Mgts.
American Potash & Chemical___
ia/ix"
2
No. of
.Shares
(2085)
'! —Bought—
No. of
No. of
sold
No. of
-
-
18,600
3(1)
1(1)
Financial Chronicle
on page
CHy-Stote_
22
■
■
22
(2086)
The Commercial and Financial Chronicle
Continued from page 21
■—Bought—•
.'V. '
.
No. of *
Shares
i
4(3)
\
No. of
Container Corp.
of America^—.
1(1)'
20,900
Crown-iZellerbachNone
Nohe
2
21,912
50,872
Hammermill Paper
None
International Paper__^104,154
5(2)
1
6,420
2
17,700
3(2)
15,000
15,760
2
Regis
A mutual fund
4
25,099
Arizona
Public
2
9,600
Atlantic
City Electric
ad to
mail this
2
3,000
2
YORK
British
10,000
7,000
45,900
5
3(2)
Columbia
1(1)
&
500
Louisville
-
,.;
22,000
.Nevada
■
26,000
;
Electric
Gas
Power
ACCUMULATIVE
Public Service of Colorado..—
4(2)
99,800
3,000
Savannah Electric & Power.,...
1
3(2)
3(2)
PLAN-
,
Prospectus
may
be obtained
frorh authorized dealers
|
1
FOUNDERS
/
1
None
;
MUTUAL
:
DEPOSITOR
None
/
1st Natfoiial Bailfc Bulltflng
2
19,600■
None
11,000
i
1(1)
■
None
Teletype DN 249
DENVER 2
COLORADO
____
•
None
1
Edison
166,900
<33,000
7(2)
-67,000
•
American Tel.
19,600
8,500
2(1)
2
The
2(1)
Harris
Intertype
Heath
(D. C.)
2(1)
GrROUP OF
MUTUAL FUNDS
35,000
Holt, Rinehart & Winston______
21,000
Scott, Foresman
8,800
2(1)
Western
9,500
.
Publishing-
--
t
-
j 2(1)
CORPORATION
3(2) /
1
-
2(1)
2(2)
3(1)
-1(1)
NATIONAL INVESTORS
CORPORATION
16,800
Motorola
28,000
Stanley
The Growth Stock Mutual Fund
1
1,700
None
United
None
Theatres
y
2(1)
KD
-
200
50,500
Warner
35,000
'/
_
3,300
:
1(1)
•
J 10,500
10,600
'
26,000
i
;
5,000
'
2.v
4(1)
-5,500
1
24,400
■■
3(1)
30,000
Denver
2
6,000
5(3)
For prospectus and free information
consult your iiiveitmdht dealer, or
mail coupon to:
3
Illinois
9,400
5(2)
37,300
B&OA0 STREET SALES
6(2)
4(1)
Norfolk
•
163,900
CORPORATION
49,900
Broadway
•
New York 6,
N.Y.^^
2(1)
50,000
*
Grande
±
Central
___
&
Western
<
Seaboard Air Line.
*
Union Pacific
40,300
ACF
11,000
American Brake
None
-
1
*61.500
-
18,600
.___
65,000
None
!
Industries.
Newmont Mining
None
None
Philadelphia & Reading
None
None
28,600
Polaroid
36,400
Procter & Gamble
y
2(1)
-
20,200
-
19,700
:
-
None
'
'
None
None
None
None
None
—
Unilever N.V. (ADR)
Universal Match—_—
None
3(1)
KD
.
1'V
2(1)
None
•
American
Genl.
5,000
Steel Foundries.—__
American
Transportation
General Railway Signal.
' American-Marietta
None
1
/
/1,500
/
None
\ Npne,
None
None
i
None
None'
4,000
Kl)
40,000
Kl)
The
i__
2(1)
69,000
/ 2(2)
6(3)
56,600
—___
/
68,100
stonf &■ Webster17,5J)0
2(2)
5(1)
y
*10,400
Vendo .:
None
panie^
tabulation
' Balance
Purchases and
Between
sales
by
Gash
and
Affiliated
2(1)
our
article
2(1)
54,000
Wesnng..ouse Air Brake.
v None
None
are
for the July quarter 1961 ; these by American Business Shares, Fidelity Capi-
tal
Fund,
;
Fuhd
Fund, Massachusetts" lnve^t-irs Gr-w.h
("M1G") and Wellington Fund are for the August quarter 1961.
Indus rial
t
investments;"
Fund included above and in
]
Financial
/
2(1)
i
:
.
3(1)
88,000
—
foregoing tabu'aticn also includes transacti-ns by 11 investment ccm<urider ,7 additional managements) in additi n to these shown in cur
i
/
6(4)
5(4)
49,500
..
Marine
Revlon
I
2
339,000
21,000
Rawo
None
f
...
Industries.....
Outboard
-
2
39,200
137,000
—
Minnesota Mining & Mfg
None
None
Lines..——
Brunswick
Kaiser
t None
2(2)
5,500
American Export
5,000
j None
None
i 1
!' 4,500
1
18,635
Xerox
None
/
•
None
Shoe
None
1(1)
1.000
5,000 / American Machine & Foundry
jNone
/
;
10,000
Welch Scientific
None
None '
1
2
Roadway Express.
2,300
^
1,200
10,400
7,200
'
1(1)
Time
25,700
1
1
2(1)
None
1(1)
None
1
None
1
1(1)
6,100
r;14,500
•
1212
None /
18,600
.15,000
•
35,900
■j None
2(1)
29,900
None
1,000
None
■
None
1 3(2)
3(1)
-
1(1)
4,900
10,000
None
38,975
None
,y
v,
1
__-
i
9,000
9,300
.
2
QBSI QNIC QWFI
3,500
None
Southern Railway
4(1)
2(1)
y
"—_
Southern .Pacific-L.1
2
ADDRESS
None
i____—
Railroad Equipment
NAME
65,300
Western
Louisville & Nashville
45,500
-
Rio
Great Northern
77,700
2
&
2(1)
1,000
Midland-Ross
4(1)
A Balanced Mutual Fund
None
/MCA, Inc.—
Railroads
WHITEHALL FUND, INC.
Id)
y
36,000
Mfg
2
;
4.000
None
9,500
2(2)
;
4
Atchison, Topeka & Santa Fe___
.
3
6(1)
y
3(1)
1
Zenith
39,000
.
,
2,100
7(2)
3(1)
3(1)
2
6
:
; 2(1)
i
Shoe
Halliburton
Hertz
14,100
|3 ■/
-1(1)
Bell & Howell
Crown, Cork & Seal____
Diebold
Fairchild Camera & Instrument
Glidden
___-_
Grace (W. R.)
Green
7 25,800
13(1)
2
•
10.000
.1
•
-
—_____
^
-
117,238
:
i 2
i 4(1)
2(2)
54,700
Radio
2
31,300 :, /
4,400
24,500
Beauty Counselors
12,000
I
:<
.
5,000
.
3
;
3(2)
Magnavox
2,400
•
1(1)
19,100
American/.Optical
American Photocopy Equipment
.Avon Products——-____
42,000
.
*
12(1)
;
Miscellaneous
,
American Express
2
1(1)
•
;
^
.
10,800
2(1)
None:
None
1,000
>
:
II
None
4,500
Artists.
y
r
•
3(2)
Loew's
y
53,100
None
1(1)
None
.y1
17,800
...—
2(1)
1(1) V
None
33,200
-
-.
3
Metro-Goldwyn-Mayer
,,
.None
Liggett & Myers
Lorillard (P.)
8)300 /. American Tobacco.^.--.------5,200 /' Philip Morris
9,300
Reynolds Tobacco..!
4-
•
Columbia
2(1)
'■'...
yl ./> *
32,573
30,000
Stevens (J. P.)
'
" 'y/.C.'
Bayuk Cigars.
27,600
y
i
2
(
1
3(3) *
36,900
None
23,500
*
3
38,000!
1
.
1 7
1,;
l,800y'
4,000
5,000
:
'
2
American Broadcast.-Paramount
2(1)
29,800
-
{5,000
/2
;2(ij['
52,900
Broadcasting
;
'}■ ' Tobacco
/-"■
2
;
5
4
A Diversified Mutual Fund
-
-j
2(2)
3(1)
INVESTING
-
Textile and Rayon
2(1)
41,000
U. S. Steel
Youngstown Sheet & Tube
.
Radio, Television and Movies
BBOAD STREET
79,800
.
2(1'),,,
.
10,500
Crow ell-Collier
Strapping
5,000 -b Ameldcian Viscose
4(1)" 121,200
Burlington Industries
I 6(1)
'102,500 / Celanese ___'_
1
;
9,800
Colonial Corp. of America
<3(2)J
22,100
Steel
i 1(1)
-
.
Signode
16,300
/
•
/v
:
V
.
None
-
3(1)
:
None
1(1)
1(1)
6(2)
2(1)
3
: i 4(8)
2(2)
33,400/ : 6(2)
28,300
3(1)
Republic Steel
.
5(1y
None
2(1)
BROAD STREET
13,800
834,200
11,400
26,800
82,200
57,300
Copperweld Steel
..
1
2(1)
_
4,500
Steel
National Steel
None
•\-2-y.
10,000
-
Bethlehem
None
2
1
5,000
27,500
None
i3(2)
Grolier
25,000
None :
-
2
;•> None
2,100
.
Steel
McLouth
None
9,500.
None
13,800
None
2
1,500
41,400
-
3
'
None
Laughlin
&
None
*
___
30,000
3(3)'
None
i
!
2(m£
65,950
Ginn
/
Mesabi Iron
/- ■■'
1
Publishing and Printing
-10,000
3,000
j 1(1)
<3(1)
•
Steel
Broken Hill Pty. Ltd
Jones
y-;.,
2
Allegheny Ludlum Steel
3,000
•
1(1)
4(1)
1
•
Granite City Steel
Inland Steel
"
-
2
Genl. Telephone & Electronics._ 245,000
Union
A * 1,000
Western
2(1)
45,000
7,800
,
Armco
id)
2(1)
•
.
1
None
.1
4,000
& Tel,-
None
124,924
15,000
:
3(1)
V 2(1)
None
Firestone
4(2)
Public Utilities—Telephone & Telegraph
8(2)
2
11,000
4(1').
22,800
4(3) .*153,000
*;
None
1,800
.__
■
7,037
;
Steel and Iron
,
;_1(1X
1(D
6,oOO
Toledo
3(1)
5.600
Goodyear
U. S. Rubber
14(2)--t 74,300
_
KD,
v
33,049
San Diego Gas
2,500
None
Rochester Gas & Electric.-.....
& Electric.£
South Carolina Electric & Gas..
5.900
None
1(1)
*
25,000
None
1
>;
17,900
General Public Utilities50,000
Idaho Power
.'
54,600
Middle South Utilities.65^200
N. Y. State Electric & Gas______
21,740
Oklahoma Gas & Electric
r___
16,000
Philadelphia Electric
15,780
Potomac Electric Power
:
/'■■ 8,997
None
'
(N.Y.)
2(1)
2
■
14,800
Goodrich (B. F.)
2,700
1(f)-A'
Florida Power & Light
None
1
;
Consolidated Edison
50,100/
;v
<
.
3(1).'1
-
12,500
16,000
20,000.
Central & South West
None
None
corpohation
American Electric Power
50,900
None
t;
1,500
1,000
'
None
■■-/ 1,000
46,000
Wisconsin Electric Pbwer
2(1)
>
4,000
General Tire & Rubber
"
5(1)
':
None
_
/
TW),:
500
Utilities
Virginia Electric & Power.
None
/ 1
Electric
Tampa
10,000
1
i
Union.
Stop & Shop...
9,500
'
1
'None
7,280
8,000
1(1)
or
1
2,500
Southern California Edison..—
Texas
1(1)
Rubber and Tire
75,500
54,280
.
None
34,700"
48,700
3,000
3
2
None
13,000
1
/;
3,099
60,100
Montgomery Ward
Murphy (G. C.)
4(1)
1
.
Public Service of Indiana——/ 55,000
Shawinigan Water & Power.;
2
•
3,000
None
3,000
2
■
None
None
38,175
1
INCOME
:
Public Service Electric & Gas__
PLAN
Grand
v
; 6
1
"Nofie
|
"
>
-
:
None
.
66,200
18,500
Electric-!
&
3,500
r'
.
16,500
'None
485
1(1)
Contractual Plan)
V
None
>1
1
9,400
i
(A
1,600
39,002
10,000
Dominion Stores
464
1(1)
2
l
Northern Illinois - Gas_/:? None
Pacific Gas & Electrie.--.i!^rrU;16,500
6,875
1,500
1
SYSTEMATIC PAYMTNt PLAN
,
2(1)
I
-800
Long Island Lighting
2
Roebuck
Spiegel
None
1
1
20,000
W'oolworth
l(D
4,700
:
Aldens...
'. None
1(1)
8,000
Safeway Stores..^
1,000
1
None
Hawaiian
900
2(2).
•
11,300
1
None
400
2
FUND
59,100
3
None
:
10,000
*
Dayton Power & Light
Duke Power
El Paso Electric.
15,000
1
.
Electric
.
2
I
None
El0ctric_____
2
MUTUAL
May Depariment Stores....
Field
1,461
None
None
None
3,200
1,000
Sears,
2
4,700
Marshall
/;!
None
None
_
Cleveland Electric Illuminating
Columbia Gas System
Consumers Power
:
6,512
ADDRESS-
FOUNDERS
None
Power
Gas
Kroger
1,500
9,500
None
3,080
None
1
!
None
•
None
(S. S.)_
Kresge
None
None
None
2
1(1)
3(2)
675
Central Hudson
52,000
2
*
/
None
;
(E. J.)______
1
Service
Central Louisiana
10,400
1
CF
None
Korvette
31,500
| 1
<
68,600
Mgts.
'
2(1)
NAME.
'
<1
1
Calgary Power
1
Established 1894
STtfElif, Nfc\V
5,000
1
CALVIN BULLOCK, LTD.
ONE WALL
10,310
1
-
.
1
87,040
investing in "growth"
or
*
2(1)'
10,000
12(1) / 9,o00
Utilities—Electric and Gas
stocks. See your investment dealer for
free
booklet-prospectus,
3
None
Paper..
45,350
15,600
v
3(2)
Public
Federated Department Stores___r
First National Stores
Food Fair Stores
Great A. & P
:
2,000
Minnesota & Ontario Paper
Union Bag-Camp Paper
St.
2
24,000
Mead
28,000
2(1)
Kimberly-Clark
5,100
3,700
",
i 2(2)...
>
2(1)
20,000
2(1)
;
No. of
Shares
Retail Trade
None
.
Sold
No. of
Shares;;" ;
2
None
,
Thursday, November 9; 1961
.
'
Mgts.
y
L
:
,
-No. of
.
MgtSi
No, of
Shares
!;//;./
Paper and Paper Products
Champion Papers:
17,300
70,500
.r—Bought—
;
'";.v= / .'V;:
'
-
,
3(2)
•
Noiof
No. of
Mgts.
■"'//
A,
.
,
Stock
:
*^WNWI^*^fWWWr,N«i j*'„
.■V-UYjl, VflTU *t,*if«limtt<v<r**rmm
;><k .mmmirinMKwvirfm^
E?
1
Volume .194
*
"» '
•MM*
*
.
Number 6106
*
•
.
.
The Commercial and
.
f
"*
'
H
1#
'
Financial
Continued
from page
found
forms
rather disliked
made
Equipments
was no
seller of this
issue.
:
Fair
Demand
^
41
the
■
bought here Were Cham¬
(with new commitments by
imP™ved
newly),
with
aksorb
stocks
of
rrrmrv
the
publishers,
recently, were
still in fair demand,
although to
a lesser extent. For
instance, D. C.
Heath, bought, by five manage¬
ments during the June
quarter,
fashionable
only
bought by only two this time.
was
the
On
new
other
hand, a relatively
Scott Foresman, not
name,
bought at all during the preceding
quarter, this time
three
fund
none
picked by
was
with
managements;
selling
transactions
it.
Large
occurred
in
single
Pocket
Books (Institutional Growth Fund
adding>15,000)
Hill
and
in
vestors
Funds
(25,000)
buyer
a
here too.
liked in this cyclical group
Best
was'
ware
Illinois
(23,500
Income
ers,
ond
best
and
cumulative
Bullock
largest
reduced
shares.
and
the
liked
Southern
with
newly)
(18,300)
there: being
Pacific
Of
Central,
seller.'Sec¬
no
were
Southern
its
<
Southern
Railway.
United Ac¬
(40,000.)
single
United
largest buy¬
Pacific,
Group
Dela¬
United
by
was
Revnolds
Of
M5 0001
oftheUnited
two
out
closed
tnear
78,300
.
.
Building
Cyclical
buying
In
TT
here
target
this
tional
was
usually, mixed
Gypsum
Gypsum
had
of
A-Here
group,
Na¬
and
three buyers
General
Electric
f
25 Broad
Teletype:
N. Y. 1-3222
It
;
with
Fund
(led by Investment
Trust of Boston with all its 15,000
shares).
IT
&
T
had
its
largest buyer in Fidelity Capital
(35,000
only
Philips'
newly).
Holland
of
fund
one
'
•
Telephonet
^
Dlgby 4-9154
Send
prospectus and
me
litelratura.
*
NAME.
STREET.
.
.
»
•
........ ..
•
• ■•••(••■
/
CITY
Lamp
sold
was
Exchange
was
by
against nine in
as
the preceding quarter; it again had
four
led
tial
who this time were
buyers,
by One William with an ini¬
purchase of 10,000 shares.
The
with
disenchantment
the
Shares may
be systematically accumulated in
sagging "pure" electronics stock is
heavy
the
Industries
Litton
sitron
by
Electronic.
struments,
and
selling
Tran
earnings
amounts of
selling
buying
doubtedly
managements
latter
the
ones,
acting
the
on
A MUTUAL FUND
and
in
un¬
notion
jfk\
^ST°
and
price crumbled so fast, there were
six
$30
or more,
-
In¬
Texas
Of
whose
/
term
•
investing
diversified group of secu-
a
rities selected for possible long
of capital ana
Pennsylvania
Property Tax.
growth
income. Free of
Continued
on page
25
Personal
Send for FREE Prospectus
Investment Dealer
.
curre4 in Kayser-Roth (Fidelity *'
Capital an initial buyer of 62,000
shares) A and in American Enka
Mutual selling
Methods
Street, New York 4, N. Y.
strongly
managements
Works
York Stock
Members' New
•
quarter's
1 d.;
o
Science
United
and
eight
MIG, with an
adding 36,500 shares). De¬
addition of 29,015 shares,- Otis E!efor
Burlington 'improved
further, especially oimrth* part of vator, Johns Manville and U. S
the Bullock Group
(73,2p0). In-**
—
«—
teresting ,jingle transactions qcfr
'
f
Square
Investment
General DisTRiBirroR*
Wellington1 Fund.
sold-on-balance
of
mand
(Penn
'
Possiblm
Capital Through
of diversified McKesson &
emerged from the June
of
was^
Flexible
174,-l'OO
^Electronics .& Electricals
/
Heavily Mixed A
*
with nary a seller. "Largest buyer
Bestwall
Growth of
transaction
large
close-out
illustrated
Stocks Mixed
Bestwall
both
Favorites
Fund
GEORGE
845
LAND
from
or
/
I
jom
''
BAILEY '& CO,
A.
BLDG.,
TITLE
PHILA.
10,
PA.
all
34,700 shares).
its
*
*
:
*
-
''
'
Th« Disfavored Groups
:
Tobaccos
The
50,000
Accumulative
than
(50,000 newly).
shares of Firestone.
Prime
buyers, while MIT
holdings
Vnrpifm
/Funds
Interest
Goodyear
and
Firestone,
MIT
sold
50,000
shares,
while
Incorporated Investors also sold
the
were
re¬
category.
sellers
close-out^ of 70,000 shares). Of Wellington (53,200) and Putnam
the
and
(30,900)
will
Metals. agaim tw<r ot. the .^United
both
Textiles
the
A Mutual Fund Seeking
(19,000 newly).
whether
porated Investors the sellers with" Aluminum, found large buyers in
62,500
particularly
newly);
(25,000
25,000 shares), while sold by four
Mefals Sain
large
(Fidelity Capital newly
buying 44,000 shares and Fidelity
.
mixed
Group
Robbins by
demand
more
by National Investors
newly),
the
Eaton
&
One William
was
oi
of
.
McGraw-
Liked
A
Goodyear was split between shares and Fidelity Fund its 33,buyers and sellers, with. transac—450: shares, while Lehman -sold
lions on both
sides particularly
20,000; Wellington bought 31,000.
large (United Science leading the
A , '
buyers with 44,400 shares; Incor- ^
relative newcomer j AHaryey
a
led
were,
and
FUND, INC.
this
bought by nine managements (led
by Wellington with 50,000 shares
«
Celanese
Still
'
in
(Wellington. selling 50,000).'
Rails
,v ' ''
,J:
Dominick (all 20,000), and U. S.
*
Group
and
.
in
stock
Upjohn, with six buy¬
no
seller.
The buyers
(a11 90,000), two funds in the
united Funds Group (all 50,000),
oa
bought 41,000 shares, with
the- United
i
Divergently
liked
•
Aluminium, Ltd. and
Aiumiinuiii,
anu
ReyI10ids Metals. Large sellers of
^he- former
were
Fidelity Fund
.the purchase of 26,ef'v,^vf°Tr
wasf^°?d"
of which Fundamental Ini
ers
large productive
the
were
buyers
ouyers
u
nf
cyclical
in
There
~
iw*
'
uncertainty
existing
mained
buying
managements
being lead by the United Funds
Sin
??ph
rich,
-
was
Howard
*
capacity,, the. aluminums
five
48,500 shares).
Publishers in Lessened Demand
The
tux
A
Viewed
The ' best
(50,000
A
V
*
of
Reaction
the
With
Price, 6,700, and Selected buying it.
American, 5,700), arid Container
Buying Prevails in Rubbers
Corp. .(in which the same two'
; ■' U.
funds established new positions
S:?; Rubber this time' was
j;-i,
better l ked than its competitors,
while the Bullock Group did the
,
*
-
shares
C1Pr
shares
;
.
■
seller
A'Aluminums Uneven,^.-
►.
T. Rowe
same
'■
A" ■
quarter/
popped forward, with Tour man-
issues
OPPENHEIMER
Line
Groups Meeting Mixed
preceding;
,
One
Number
Reynolds.
IA In this highly cyclical industry,
A.C.F. Industries, not bought' at
Best
pion
'
the
among
were
balance.
on
Drugs
v
<
Fund;
second: largest,Securities,'
which
also
:
*■"
Value
the
was
the
was
•
all ,.j in
Papers Meet
group
Group
A
Follow»
Rails' Lead I
commitment of 7,000
new
a
Rail
,
sold
American
largest buyer of Southern
(20,000.
•
*.,•
: :,'v •,
Railway
23
Reynolds-
and
Income
also the
20
largest buyer in
Fundamental
(26,000), while,
among
others, * Dorinidiek
Fund
shares; there
during the receent
Bot.T American Tobacco
were - sold
by six
managements
while bought by
only
two.;
Largest
seller
of
Gypsum,'
quarter.
I
Churning Market
its
(2087)
.
Funds Portfolio Turnover
i t Cut in
Chronicle
have,
Sold
met
Ealaace
on
tobaccos
which
mixed
usually
reactions,
A
were
FUNDAMENTAL
INVESTORS,
:
::
Investing in
k
stofcks
selected for possibilitljes of growth
in income and capital
comnron
'
over
the years.
i
An
open-end mutual fund invested
Canadian,
in
and other
Available
.
out
foreign securities.'
at
net
asset
A
■
,.
DIVERSIFIED
European,
Western
INVESTMENT FUND, K
s
•
A balanced investment
value with'
sales commission.
in bonds, preferred stocks and
•
>
-'/.'A
.
Prospectus
Members l^ew
42
WALL STREET
A
A.a'
professionally managed mutual
fund investing
common
and
NEW YORK
-
im'comrnon and
Rhoades & Co.
'
professionally
managed mutual fund investing
Tor\ Stoc1{ Exchange
income and
5, N. Y:
preferred stocks
of both
bpnds. Objectives: current
Loo'k over
Write your
possible growth
principal and income.
DIVERSIFIED GROWTH
Eaton & Howard's diversified
record since,1932.
Stock Fund-write for
Investment Dealer
—
primarily in
stocks for
Founded 1931. Investigate
possible future growth
our
for/free prospectus, or
prospectus, today!
'
a
free
..
>"..
STOCK FUND,
Investing for long term growth
A
| possibilities in securities of companies]
in many
E&H:;
Fund
iov
i:S
Gentlemen:
c-mp;any seek.ng
siiare wlders possibilities
1-mg-term
and;
growth
reasonable
of
current
fields of scientific and
development.
economic
A
10, Mass.-
Fund
investment
*ef
INCORPORATED
24 Federal Street, Boston
Common Stock Investment
ho
EATON & HOWARD,
*.
.
:
—
—
l—JEW
A
stocks.
on request
A
Garl M. Loeb,
common
please
send
me
your
free
□ Stock Fund Prospectus
□ Balanced
Fund
Prospectus
capi.ai
inis
me;
*
NAME.
Prospectus
upon
request
I
Lord, Abbett & Co.
New York
—
Atlanta
—
Chicago
—
Los Angeles
"1'
—-
I
San Francisco
I
STREET-
:
Hugh W. Long and Company
Incorporated
CITY.
Q
I
ItMtminater at Parker
•
Elizabeth, New Jeraay
Hi
24
The. Commercial and Financial Chronicle
I
(2032)
this
that
SECURITY SALESMAN'S
CORNER
BY JOHN DUTTON
his
want
representative
that
column
famous
a
tomer
in this
salesman
wrote
I
1945
in
remind
perfectly
be
to
seems
this piece of
salesmanship. The salesman knew
the customer to be a man of very
"Take the salesmen out of
and you'll
soon
see the
greatest depression
we ever knew
in this country."
knew that
about
Let
once
he did
opinions.
positive
the securities business
good
be
can
case
this viewpoint. It takes
He
not like any advice
his golf
himself
wealth
and
provide wealth, and it takes sales¬
friend
column.
a
The
is
from
continue to
do
my
salesman
receiving
this
so
knew
spend and in¬
reason
now
he
man
other
and will
is that
he
un¬
derstands his customer. He knows
or
too—but
must understand that
all people are human beings and
some of
them are as peculiar as
this
you
as you or
man—or even
I.
Toronto Traders'
Elect Officials
Governors for the
was
Greer
has
N.
P. S.
been
Crysdale
of
Benedict
been
Ave.
associated
mutual funds
as
Mr. Greer has
with
the
Mason
Crysdale
was
and
Ltd.
Axe
director of estate
planning and pension and profit-
(
elected
Chairman.
of
Montreal Bond Men
balance
The
the
Board
Governors
To Hold Dinner
com¬
Bond Traders Association will be¬
held
D.
Stanley,
Royal
Se¬
curities
Friday, Nov. 24 at the Ritz
Carlton Hotel,.
Corp.;
P. S. Crysdale
Joins Calif. Inv.
Honorary
Vice-Chairman:
E.
A.
Williams,
Canadian Bank of Commerce, and
E.
J.
Allman,
.
MONTREAL, Canada — The 34th
annual dinner. of the Montreal
Honorary
Chairman: H.
President of Axe Securities Corp.,
400
1961-1962 term
prised of the
following:
Y. — Robert
elected
Vice-
Ormesher, A. E. Ames & Co.,
Governors:
R. W. Carns,
McLeod, Young, Weir & Co., Ltd.;
J. A. Gable, Burns Bros. & Den¬
ton, Ltd.; M. St.B. Harrison, The
Bank of Montreal; R. J. Putnam,
James Richardson & Sons; R. A.
White, Bongard & Co.; Ex officio:
D. L. Erwood, Harris & Partners,
Ltd. and H. Irving.
T. J.
elected.
was
-
Marie, Midland Securities Corp.;
Secretary: A. D. Thomas, Wood,
Gundy & Co., Ltd.; Treasurer:
Ltd.;
Canada—At the an¬
nual meeting of the Toronto Bond
Traders' Association, the Board of
TORONTO,
of
Greer V.-P. of
Thursday, November 9, 1961
Annett
Partners,
LONG
BEACH,
Fredrickson
tne
staff
of
has
Calif—Sven
L.
added
to
been
California
Investors,
sharing services.
understand this.
They
Understanding
and
Tact
don't
readers
the
with
it.
business
need to go into
of this
think there is any
detail
vest
savings of the
investments. I
into
his
salesmanship
TARRYTOWN,
how he wanted to
public
of
to
plenty of capital, he was an in¬
dividualist, he had made all his
made for
salesmen
game,
possibilities for the use of the
capital that must be raised to
furnish the tools and the jobs that
to channel the
him
is
sales¬
do,
mistakes.
what
him
tell
registered
security
or
Axe Securities
the
men
•
some
his card game, or
any
suggestions from his wife,
children or his friends. He had
underwritings, visualize
to create
analyze
us
ness;
A
This
first
happy.
replied to the question
as to whether or not we needed
salesmen in the investment busi¬
had
to
man
or
if he is wrong
price, and
doesn't
he
Back
care
25 V2 for
his two thousand shares. It is only
bookkeeping to him.
He , is a
wealthy man and he wants to buy
what he likesr when he likes it,
at
Some Want It Their Way
doesn't
man
whether he pays 29 %
. .
Many people do not realize that
securities salesman must be a
good judge of human nature. He
lead and guide where and
must
he
when
wish
people
make it
that
reality
account;
the lead in handling their
if he feels that it is to their
even
*
to call certain points
attention.
Under those
advantage
their
to
faced
often
quite
certain
have idiosyncrasies that
impossible for him to take
the
with
his
also
is
he
in order to
clients
suggestions.
so,
his
of
follow
to
But
do
can
those
assist
silent,
be
must
he
circumstances
act, and to
allow• his customer to
follow>qut the instructions given
to him—even if he sincerely be¬
lieves that the customer is making
mistake... To
investment
an-
do
otherwise will only antagonize the
client,
also, place the sales¬
position that is unten¬
and
in
man
a
the customer should take
able if
his advice and then it should turn
out that
he
right.. There
olute"
when
it
is
"ab-
no
making
to
comes
the
and
wrong
was
client
decisions.
investment
Wrong
A recent
Right
and
that
case
to my
came
attention illustrates this phase of
salesmanship quite ade¬
A
salesman friend of
security
quately.
who
mine
wealthy
had
for
vestor
a
him
was
very
a
elderly
years,
many
received
and
known
quite
but
call
telephone
given
one
an
in¬
day
from
order
to
buy 2,000 shares of a listed stock
at 25 V2 that was then selling at
29. Knowing
this
man
well,
very
the salesman thanked him for the
order and
at the
placed it with his firm
price requested on a "Good
basis.
Cancelled"
Till
After
sev¬
eral months the stock declined to
253/4 and
tomer
selling
friend called his
my
was
price.
this
at
thanked
cus¬
that it
mentioned
and
him
and
down
climbed
salesman
bit
it
refused to
day it
day the
Every
each
and
would
When
ket.
25 y2.
to
a
,
,
K.
Several days
elapsed and the stock
go
"O.
said,
leave it in at 25 Y2."
client
The
report the
mar¬
27, the
customer placed his order in at
26
and cancelled the buy order
at 25 V2. When it got up to 28,
he
cancelled
got
the
to
up
"buy
order"
at
26^ and put it in at 27
this
All
time
my
friend
was
fairly itching to say
tomer, "Why don't
to the
cus¬
buy
you
a
thousand at the market. If it goes
down
you can still buy another
thousand, and it it continues up
you will at least have obtained
a
thousand
shares
at
a
lower
knowing his man hev
kept silent and followed instruc¬
price,"
but
tions. Several days later the stock
'
to 29^2 and the customer
finally said, "Buy it at the mar¬
got up
ket"
.
which
he
did.
It
has
now
reacted. t©^bout. ?8-but .the cus-rr^
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26
(2090)
The Commercial and Financial Chronicle
Fundamental
were
Market ^000
rail
Continued from page 25
buying without selling
including Scudder Common
(with 21,175 newly) and Dominick (16,000 newly), and sold by
none.
Among those sold on bal¬
erated
ance
Middle
was
South
of which Lehman
FUND
with
Utilities,
the largest
was
close-out
a
of
46,000
INC.
I
mutual
A
fering
AT
fund
investment
diversified,
a
investment
for
possible
and
MIT
growth
upon
request
investment
your
from
dealer,
bought
or
was
eight
sold
largest
which,
Polaroid
FUND RESEARCH &
man¬
by
only
buyer
was
eminent
begun to
ing
from
the
long
held
-
position its its port¬
earnings
flatten
N.
INC.,
m.
other
Western
its
by
was
Union) partly due to its
Fidelity
chases
Well¬
Very well bought
Affiliated
offering;
rights
hand,
holdings
the
made
and
largest
(30,000 and 22,500
pur¬
shares,
out
tional Investors sold
FUND OF AMERICA
In this group
tation
fensiveness,
AMERICA, INC.
Fund
The
Mutual
seeks
is
Fund
a
those
Among
non-diversified
which
growth
buying
pretty
were
which has
both
for
much
a repu¬
and
and
in
meeting
de-
selling
balance.
moderate
secondarily,
Fund's investment
income.
opening
„763
even,
the
quarter, the sellers being led
Institutional
(all
18,000
Growth
Fund
Ave.,
of
Thomas
C.
&
of a new
Lancaster
with
Both
and
LeVine
C.
LeVine
as
were
with
associated
-
association
Donall
Managers.
Parker
shares).
West
and " the
Resident
formerly
Auchincloss,
Redpath..
out, follow¬
comeback
45,300 shares.
The
Steels Mixed
and
sue
former
which
had
sellers.
the
foreign
one
four
Its
issue.
Allegheny
was
PUTNAM FUND
The
Ludlum
buyers
largest
and
buyers
of "Boston
no;
were
"A BALANCED FUND"
Tri-Broadstreet
000),
United
fering
Continental
which
during
had
the
(41,000
quarter
newly), while
10,000 shares.
the
THE
rights of¬
a
Scudder Common (100,000
and Investment Trust of
added
PUTNAM
were
newly)
GROWTH
FUND
Boston
Madison
Emphasizing possible long-term Capital Growth
other
1
Prospectuses on Request
Putnam Fund Distributors, Inc.
fund
managemets, including
highly publicized second¬
of 727,200 shares early in the
MIT's
ary
(jeorge
60
CONGRESS STREET,
New York
BOSTON
Atlanta
Los Angeles
'Chicago
quarter.
Incidentally, MIT also
sharply reduced its- holdings of
Republic
Steel
(51,200
and
of
Youngstown
primarily
Sheet (22,800). The
Express-American Inter¬
Adams
possible capital appreciation
and,
sold
during
was
than
by
hand, Bethlehem,
which had no buyers at all, had
sales
of
834,200 shares by six
Mixed Moves in Retailers
FUND OF
June
Mfg.
&
heavily
Best bought stocks in this cycli¬
cal group were one domestic is¬
On
respectively).
at
market, State Street closed
its 14,800 shares, while Na¬
Australia
the
reduced
ington
office
them
Mining
more
Group (52,(12,000
newly), and Madison (9,300.
Largest buyers of Broken Hill of
On
folio.
Y. 5, N. Y.
the
announce
in the
000 shares.
I
Wall St. •
Wellington with
shares., Minnesota
MAWR, Pa.—Harrison- &
C'oi, members of,;the Philadel¬
phia-Baltimore Stock Exchange,
growth
40,000 shares and Madison by 22,-
67
100,600
Harrison Branch
BRYN
its, recent, partial
rather
Number One
MANAGEMENT
by
while
Its
balance
on
surprisingly,
had not had this blue chip in its
portfolio and bought
101,000
shares newly.
Among its other
buyers was Dreyfus, whose pur¬
chase of 22,000 shares dislodged
selected
income.
Prospectus
T,
three.
managed
securities
liked
agements
of¬
long-term
in
&
whose
shares,' and
its
Fed¬
were
Department, First National
Stores,
Food
Fair,
fast-moving
Korvette, and Kresge. There was
some selling without any concur¬
rent buying in Canada's largest
food
retailer,
Dominion Stores,
has
shares..
Well
Diversified
-
Growth Stock with all their 155, v-
Cut in
seller
Thursday, November 9, 1961
.
just as it did during the preced¬
ing quarter. Leading the sellers
Funds'
PIONEER
.
.
uui.uu
national Group sold out
its 33,800
Bethlehem, while the
Tri-Broadstreet Group spld 53,400
shares
and
tfie Bullock" Grouft
The
shares
policy permits,
but is not restricted to, participa¬
tion in special situations.
of
14,000 shares.
also
For Prospectus and literature, write t*
was
a
I what mutual fund has
an
The Bullock Group
fairly heavy seller
of National Steel.
(18,900 shares)
Investors
Planning Corp.
In
U.
S.
trasted
60 East 42nd
six
Steel,
with
sellers
con¬
buyers.
five
The
ANNUITY OPTION
largest seller was Putnam (13,*
000), and the largest buyers were
Wellington (60,000) and Dividend
Street, New York 17, N..Y.
Principal Distributor
.
Shares in the Bullock Group (18,ooo).
*
•;
-
.
'
*■'
IPC
—
60 East 42nd St
New York
Please send
Literature
30-
17, N. Y.
me
on
FRETE
.
Miscellaneous
4
*
Prospectus 4md
;
the Fund of America.
not
NAME-
CITY
A
be
roid
The
ADDRESS-
STATE-
Dreyfus Fund is a mutual fund
in which the
to
>;Y
management hopes
make your money grow
and
takes what it considers sensible
Its
OWN
in American
DREYFUS
Industry
c°t- 2 B'ws,y. N-Y- 4»NY-
■In
fact,'Advisers Fund was the first mutual fund in the
United States,to have such an option in its prospectus. Find
the- star attraction.
remained
largest
buyers
were-
out" more -about this pnusuaF
Dreyfus'
quire
(its inveterate champion) and In¬
vestment
(8,000
Stock
ized
Prospectus free from your securities dealer
•r write Department C
SHARE
A
ADVISERS FUND, INC. of course!
can¬
categorized readily, Pola¬
Company
each);
was
(1,200).
risks in that direction.
Issues
Among other stocks which
this
"growth"
&
of
in
option and how you
American
a
...
:
America
can, ac¬
industry by writing for
.
..Thomas A. Martin, Secretary-Treasurer
Diversified Growth
issue's
Among
Machine
.
ownership
an
free prospectus.
the
only seller
deglamour-
stocks,
Foundry
American
was
National Distributor of Advisers
300
E.
FALL
CREEK
BOULEVARD
•
Fund, Inc.
INDIANAPOLIS
5, IND.
once
again hit by heavy selling, which
amounted
to
over
300,000 shares,
Get the Facts about
r
SELECTED
For
AMERICAN
forward-looking
investors—
SHARES-inc.
A Name to Remember
When Investing
}
.
r.
a
diversified mutual
Guardian
|
fund usually investing in
\
common
Mutual Fund
stocks chosen for possi¬
bility of growth of capital and
Shares
available
at
net
asset
inoome.
No
value.
sales
commission—
-
For information and free copy
No
redemption charge.
1
f
of prospectus, send this to
Your Investment Dealer
Prospectus
—
a
Balanced
Fund
seeking conservation of
capital, reasonable cur¬
income, and profit
rent
on request
FIDELITY CAPITAL FUND is
-
^
'
.♦*. ■' »'
or
possibilities.
Selected Investments Co.
J
'
135 S. LaSalle St., Chicago 3, III.
|"~Please send me free
Selected American
J
I
prospectus
Shares.
I
■>
"1
|
I
Name
.......
.SM*.
or
COrtlandt
FREE Prospectus-Booklet describing
send coupon NOW to
your INVESTMENT DEALER or
your
FIDELITY
write to
35
CAPITAL FUND
Congress Street, Boston 9, Massachusetts
Wellington Company, Inc.*
|
Broadway, New York
MUTUAL FUND
FIDELITY CAPITAL FUND
& Berman
120
City
investment dealer
for prospectus
Neuberger
For
Members New York Stock
Exchange
| Address.
I
of
a
with primary emphasis on capital
appreciation possibilities./ >
Underwriter and Distributor
Ask your
v
5
Please
Philadelphia 3, Pa.
send
Frfe FIDELITY CAPITAL FUND Prospectus-Booklet
to:
NAME.
7-2600
ADDRESS.
.CITY_
CP
-STATE.
'
Wi
Volume
194
.Number 6106
The Commercial and Financial Chronicle
...
.
(2091)
Balance Between Gash and Investments by 88 Investment
Companies
% (With Aggregate Net Assets of $16.4 Billion) 9-30-61 vs. 6-30-61
A
Axe-Houghton Fund
Axe-Houghton" Fund
Sep.
4,044
839
B
June
g4,230
1,291
A_
Science
1.7
Street
Broad
Diversified
&
Eaton
Investment
Investment
Fund—
-
•A
Cox Fund
&
Dodge
1,951
1,667
14,353
1,528
Investing-
Commonwealth
Howard
America
of
60.0
34.8
25.3
a64.1
62.5
§67.8
§73.4'
1,429
8,224
2,522
a67.3
§29.6
§26.6
§17.3
188
§a78.0
§80.6
§38.1
a63.2
8:3
90.8
90.8.
27.2
30.7
63.9
64.6
1.5
-1.7
.'29.7
30.0
68.8
25.5
24.6
70.4
19.5
20.0
68.2
66.8
1,286
833
4.1
1,448
1,619
1,547
1,375
23.3
287
207
3,235
5,819
3,505
25,424
3,610
191
392
2.9..
,13.2,
3,669
3,594
7,453
1,610
Nohfe
36
None
67.0
65.2
2.3
; 1.7
20.6
19.0
77.1
79.3:
6.9
6i9
.14.8
23.3
78.3 "
69.7
0.3
1.4
N.A.
32.2
N.A.
10.0
13.3
14.0
14.4
1.4
2.9
7.0
9.1
13,560
5,669
2,636
1,223
12.7
13.6
11.8
8.1
7.3
26.6
2.9
7.2
7.1
1.7
15
16.7
5,073
4,132
10.5
11.7
27.1
28.0
20.6
21.8:
20.8
N.A;
17,181
2.8
6.1
24.1
25.8
Scudder, Stevens & Clark Fund
7,431
5,227
6.2
7.5
23.5
22.2
Shareholders'
3,211
5.8
3:0
30.1
31.3
64.1
6,913
1,747
7,690
10.9
11.5
20.0
19.4
69.0
101
325
1.2
3.5
1.1
1.1
97.7
7,148
120,813
4,354
165,751
8.2
5:1
22.2
48.6
69.7
46.3
9.4
12.3
24.1
g23.5
66.5
237
362
1.9
2.8
44,1
,43.8
54.0
325,477
6.4
7.0
21.9
23.9
71.6
None
None
A
Mutual
Fund___;
Loomis-Sayles
Mutual Fund
Massachusetts Life Fund
Mutual
Investment
National
Fund
___
1,426
__
3,830
Securities
4,349
New
England Fund__
Putnam
(George) Fund
Trust
of
_
Boston
Stein Roe & Farnham Balanced Fund
Value
Line
Value
Line
Fund
Income
Wellington
Fund
Fund
Whitehall
■'
<
1
Fund
Sub-Total
v
1,021
Securities-Income
Nation-Wide
11,954
5,943
_'
Open-End
Bal.
Funds
6,567
252,298
:
v
Aberdeen Fund
:
412
AA
Fund
.Blue Ridge Mutual Fund
.
Bullock
Fund
•
Fund—
&
79
Stock
Fund_^_____
Energy
Fuhd____-L__^__'
Fidelity
Fund
_
Fundamental
_
N.A;
2,465
2,615
1*290
74.9'
1,395
4,874
870
75.5
5,768
4,874
65.3
65.4!
4,691
2,558
9.6
90.0
83.2
1,311
*$2,400
34.3
81.6
3,468
1,311
64.2
4,235
3,496
62.4
4,123
60.3
355
555
355
31
58.6
N.A.
908
1,000
864
416
73.1
68.1
25,088
21,040
11,198
7,290
70.3
70.3
2,694
413
956
65.7
3,647
4,618
970
3,524
15
69.1
4,221
95.4!
1,328
6,824
1,980
1,425
4,987
3,341
1,328
1,861
1,224
1,425
4,428
g66.4
74,018
90,236
59,388
84,797
53.4
206
282
98
270
69.3
186,227
188,199
139,478
147,078
476
hl6,584
1,642
2,822
11,053
11,043
3j736
1,333
h25,193
l,4i3
4,951
7,321
14,518
980
r
Ihvestors___;J_^_^____r
General. Capitali Corp
Group Securities—Com.
Guardian
One
William
Street
5.4
3.4
92.0'
92.2
5.5
None
N.A.
99.7
N.A.
None
90.2
89.7
3.0
96.5
95.8
3.8
93.5
92.0'
9,040
1.6
1.3
0.1
0.1
98.3
98.6
112
11.4
14766
"if. 9
"if.9
32,069
42,191'
1.3
1.8
10.0
7,917
1.5
3,339
2,280
15,789
1,634
1,118
,
*
0:3
None
None
99.5'
99.7
None
None
99.0
98:9
12.0
15.3
1.1
1.1
86.9
83.6
4.7
1.5
0.9
93.0
94.4
4.1
1,802
29,892'
3.6
None
None
95.9
96.4
1.2
1.1
87.4
88.3
A §3.2*
§2.8
§94.9
§97.0
None
None
88.1
88.1-
None
98.7
98.2'
1,682
American
Sovereign
1,348
7,788
1,163
1,754
Shares.
Investors—.
7.8
None
None
90.0
92.2-
3.0
0.7
0.6
97.8
96.4
Street
None
None
98.4
99.0
0.2
0.3
92.6
94.3
89.0
89.7
2,858
Stein
Roe
Farnham
Stock
United
Continental
Fund
16.1
78.6
1.7
1.1
83.7
None
97.4
96.3
0.7
1.0
97.8
4.5
95.6
94.0
0.7;
1.0
88.9
88.7
3.7
1.5
1,157
2.9
3.9
510
r
5,583
10)469
2,836
,19,376
3,787
N.A;
N.A-.
4*7,7^5
38,025
47,775
5,259
35,294
4,962 "
20,072
a
1,970
30,000
:
3,444
15,501
2,858
2,40i
N.A.
N.A.
Special Situations..^.
Street Investing
ii._4____
'
'•
N.A.
10,592
799
'
-
524
2,750
2,366
'
2,366
5,450
4,388
104
156
7,303
7,752
4.L
None
None
96.1
1.1
None
0.5
97.8
98.4
1.1
2.1
2.0
2.9
96.9
95.0
3.8
2.2
2.7
4.9
93.5
92.9
3.4
5.0
94.8
93.5
0.9'
0.8
93.0
95.5
■
95.9
7,303
3,400
/
389
765
142
3,400
•
898
27,099
8,558
13,139
9,016
11,324
9,082
23,479
9,382
2,988
4,224
2,876
27
235
1.8
1.5
3.7
905
121
5.5
7.4
None
8.2
94.5
84.4
159
164
1.3
1.3
17.0
18.9
81.7
79.8
212
252
615
1.3
3.0
1.3
1.3
97.4
95.7
207
,395
•a:
389"
14,245
9,111
12,138
6.1
i
7,752
*
765
6,963
Fund
5,450
908
•
4,933
,
...
101
244
Value Line
N.A.-
7,097
11,050
:
;
20,371
5,815
i
2,287
*
4,860
31,711
10,459
29,868
23,479
4,541
»
Fund_
None
10,469
,
' 15,501
•">: 2,401
4,398
A
1,623
28,182
5,250
4,962
4,860
10,592
.
*
•
2.2
11,487
1,168
7,097
20,371
96.1
3.9
2.6
1.5
;
5,871
None
8,104
1,756
29,892
2,424
A
3,920'
90.5
None
A
A
110.3
951
486
5,871
1,603
19,628
81.5
8.4
14.6
0.5
4
Fund
United Income Fund
Science
18.6
10.4
931
Accumulative
2.7
2.3
61
Fund_
United
2.8
2.8
5,011
1,798
3,479
■
5.4
7.6
23,380
Fund__
8,472
None
N.A. •
7.2
8.2
23,117
Investment-.
12,404
20,072
1.0
21
State
&
,
8^472
486
38,025'
35,294?
1.6
$$8,030v
3,348
48,021
N.A.
None
1,601 A
2,822-:
1,512
58,700
2,424'
10.6
476
hl6,584
5,855
8,104
5.5
1,893
2,505
2,633
8,973'
3,736'
12,291
11,837
1,8551,512
48,770
None
Li
.
1,914
3,890
9,505
37,203
6,652
12,404'
■
N.A,
N.A..
12,291
il,837
7,642'
3,348!
57,301:
0.8
2.9
25,041
-
1
0.5.'-
3)595
Street.
92:4'
4:2:
2,455
Fund
88.7
90.2
3.4
21,898
51".7 i 7
?•
86.9
None
"
A
14,927
t———
0.2
.
3.6
v
20,692
-------
Fund
Wisconsin
95.2
4.4
0.3
2,595
AAv
Price (T. Rowe) Growth Stock.
Scudder, Stevens & Clark—Com. Stk.
Wall
96.5'
2.6
1.0
Securities— Stock,______
Pine
United
88.0
25,465
,,
Massachusetts Investors Growth Stock
National Investors-—.-
Texas
86.6
1.2
TrUst of Bostori____A---n
Lazard' Fund__
Selected
None
0.6
None
1,338 *
1,776
A
Massachusetts InVesfors TrUst'_______
Pioneer
None
3.6
19,184
17v396
V
Institutional investors Mutual Furid§§
Jnvestmeht CO., of .America_L;_-_--_
National
92.9
12.0
2.9
0.5
A.
Incorporated TnVestbr'SJ___;
Investment
1,383
h25,193
1,413
4,951
12,272
14,518
3,890
9,505
{:$37,543
56
.
Fund
FuridAAAA^_A--
Mutual
99.1
h89.7
92.7
1,590
2,356
15,131
•
__________
Stock
5,768
13.4
832
1,961
11.5
None
16)200
10,465
602'
2,664 A'
N.Av
98.0
None
446
3,350'
90.3
7.6 ;
.
72.3-
0.8
11.1
36
990
7991 '
88.0:
h0.2
9.8
4,236
:
91.6
None
13.1
;
None
76.0
6.3
10.3
A
822
N.A.
7.3
9.8
V 685
:
■>--
-
'
N.A.
1,411
204
27.3
0.2
-15,308
18,939'
_______
A
_
0.9
hi 0.1
33,158
29,899
30,158
31,260
*
_
Howard
2.0
9.5
10,756,
5,623
1,304
3,227
;
___
^
Shares
Dreyfus
•
2,349
8,677
__.
Vegh Mutual Fund
Dividend
>.
2,706
9,354
9,116
_____
Delaware Fund__
Eaton
h76,612
Fund
Chemical
de
200
69,597
-__'A
2,586
66.4:
Open-End Stock Funds:
Affiliated
'
799
;
'
2,039
None
68.3
Johnston
9,849
8,052
204
63.1
Fund
2,471
10,981
68.3
8.8
A
11.2
3;538
10,514
72.5
25.6
Knickerbocker Fund______
Si
3,201
11,837
9,233
3,137
8.4
Foundation
3,393
35.7
8:5
4.7
12.3
Mutual
42
N.A.
0.9
25.7
Investors
82
N.A.
8.9
62.8
3,720
48
N.A;
N.A.
0.7
9.2
Institutional
ft
82
74.2'
g586
1,429
6,501
5,360
2,275
7,823
1,818
262
Group Securities—Fully Admin. Fund
'
g2,246
1.5
28,943
L*
Tdtal
Sales**
gl,643'
24.2
Trust
Total
Purchasesft
0.7
344
(b)
Investors
General
ComfMbn Stocks
Total
Sales**
Purchasestt
4,492
26,206
Fund___
Total
Sep.
g58.5
9.0
2,350
Balanced
'
Fund
g26.5
1134.2
2.7
2,013
_
Fund
Boston
$June
1
3.9
Other iHan Governments
End of———
tfSep.
§1f22;l
Electronics
&
♦June
H 28.8
gl5.0
(In Thousands tit Doilars)Portfolio Securities
Of this: Portfoiid
Common Stocks
Percent of Net Asset*
End of
Sep.
14.7
6,813
'■
-i
■
•
Axe-Houghton Stock FundAxe
Preferred Stocks*
Percent of Net Assets
End of
June
Business Shares
American
Governments'*
Percent of Net Assets
End of
,
Open-End Balanced Funds:
Net Cash &
Security Transactions by the 88'
Investment Companies
Durjng
July-September, 1961
Bonds and
•
Net Cash & Governments'*
Thousands of Dollars
27
12,767
207
395
470,478
_321,126
..
Sub-Total Open-End Stock Funds
>
431,529
439,332
5.2
5.0
1.3
2.1
93.5
92.9
511,283
345,046
Total
683,827
764,809
5.7
5.9
10.0
11.4
84.2
82.7
697,510
533,245
6,699
5,285
6.4
5.0
92.9
94.2
2,090
3,147
2,090
1,002
8.3
4.8
0.7"
2.1
0.8
1,747
5,254
1,521
2,933
2,115
7,256
4,969
13,467
8,084
4,664
3.8
89.6
91.4
1,022
168
11.7
6.7
1.2
1.4
87.1
91.9
2,201
3,285
1,479
3,059
1,073
3,285
1,073
1,394
Open-End
Funds
V. 609,9567*
468,204;
Closed-End Companies:
Adams
Express
A
s
American
'■i
r
r
European
American
A____
International.-
Carriers &
_A
General
Consolidated
Dominick
Securities
Investment
Trust
Fund—
General
American
General
Public
Lehman
Fund...
AAA
Corp.__
Madison
Investors
Service
Niagara Share
Overseas
S.
&
92.2
86.1
81
1,394
81
None
N.A.
95.9
N.A.
N.A.
N.A.
N.A.
N.A.
1,418
4.8
3.2
2.5
2.9
92.7
93.9
4,697
4,336
4,283
3,787
5,996
c27,064
17,620
11,261
3,490
11.5
10.0
1.4
3.2
87.1
86.8
8.9
c33.1
4.3
2.6
86.8
64.3
2,416
5,112
1,209
2,991
2,416
$$4,840
i$2,39Q
3.9
0.1
0.1
96.0
94.8
6,561
10,790
6,561
10,7*00
6.9
4.4
3.7
90.6
89.4
14,055
15,108
3.1
3.0
89.9
91.8
1,067
§81.3
§75.8
1,692
1,364
1,692
0~.9
$$1,190
1,238
1.2
§13.5
1110.1
§21.6
6.024
9.8
a89.0
89.0
1,095
1,000
1,713
9.966
10.2
None
None
89.8
91.1
1,830
17,295
1,067
1,238
2,389
691
14,055
5.2
74,861
.
95,042
3.2
4.1
90.2
87.8
46,479
40,099
44,345
:
582,344
654,301
758,688
notes where so included by reporting
company:,.also other assets.
■I.-.ivesfment bonds and pre¬
ferred stocks: Moody's Aaa' through Ba for! boiids; Standard & Poor's
Aaa through EBB for preferreds (or approximate
equivalent).
{[Bonds
IN CASH
POSITION
Sept; 30,
•
OPEN-END
Stock
'
vs.
June 30,
pi'i'5
Balanced
......
COMPANIES......
Totals
8.0
5.9
6.2
8.9
and preferreds irrespective of quality classification.
lower grade bonds and preferreds.
§In percent of
of
purchases.
savings
banks,
'"'Proceeds
etcf.
from
sales.
in Neiv York State.
OF 87 INVESTMENT COMPANIES
"
COMPANIES:
Funds
CLOSED-END
1961
8.9
6.6
859,851
tlncluding corporate short-tterm
investment
CHANGES
1,209
5.1
~
Companies
•_*.
<•
5.0
■
Closed-End
Total
None
N.A,
7.8
7.0
A___
Foreign Securities
Grand
None
4.1
4,319
.___
Securities
Total
13.9
N.A.
2,857
11,833
____„_
Tri-Continental
U.
3,147
Funds...
Minus
SUMMARY
Approx. Unchanged
'.
Total
19
8
5
32
16
19
7
42
5
7
1
13
40
34
13
87
•IkJCt »*>;•. * 1'-
'
assets.
§§Owned
gross
^Estimated.
aCommon
85.2
stocks
and
83.4
merly Southern
ttCost
from
by
quarter.
only.
85
743,989
,
Industries Fund;
c
_
511,979
Aug. 31
or
COMPANIES OF ASSETS TO CASH AND EQUIVALENT,
SECURITIES, AND RISK SECURITIES.
June 30, 1961
Sept. 30, 1961
Net cash, etc. and Governments....
5.9%
6.2%
Defensive securities (bonds and preferreds)....
—...
*8.9%
110.4
Risk securities
(common stocks).-..
*85.2%
33.4
.
ALLOCATION
v
-
'
BY
85
DEFENSIVE
.
Totals
43,775
Reflecting $23,895,0:87 net proceeds
offering during thd quarter.
gAs of
hAs of July 31 or for* July quarter.
rights
bFor-
AVERAGE
1961
'"
10.4
tCommon stocks
691
1,830
100.0%
100.0%
for Aug.-;
O'i
23
The
(2202)
Boston Inv. Club
Commercial and Financial Chronicle
.
.
1961
Thursday, November 9,
.
Our Reporter on
BANK AND INSURANCE
To Hear Tabell
BOSTON, Mass.—The Boston ln-r
vestment Club will hold its regu¬
STOCKS:
This Week —Bank Stocks
BY JOHN T.
lar dinner
meeting at the Harvard
Wednesday, Nov. 15, at
Club
on
5:30
p.m.
The
guest
be
.
ALBUQUERQUE BANKS
speaker
will
the
In
distinguished
E d
President
-
and
stitutional Refor
Walston
Inc.
Co.,
Tabell
Mr.
a
as
market
lyst.
is
Edmund W. Tabell
he
Institute
of
Finance
his
of
1950—
worked
with
out
re¬
when
the
Dow-Jones^ Industrial Aver¬
age
of
stock
common
around
prices
was
180, Tabell stated that the
was
grossly undervalued
market
State
-75.3%
17.5%
35,449
96,815
—
—_
25.6
28.1
107.8
TREND
39.6
OF
BANK
(000,000s
with
1,876
2,117
12.7
12.8
9.1
2,436
2,884
3,414
15.1
6.1
18.4
1.7
18.3
12.4
3,411
—.1
15.6%
6.8%
:
4.3
by
greater than any
landslide
a
witnessed since
Now
which
—
now
corporation.
Houben
is
doing business
J.
Vincent
M.
President
and
M.
National.
favorable
in
been
is unusually high
West
It
is
or
excellent.
compared
Southwest.
On
July 26,
as
a
Hou¬
Houben
(10.8%)
First
business.
National
At
there
present
the
benefit
Current Price
BANK LIMITED
*
13
st. james's
street, s.w.i.
square, s.w.i.
to
the Government in:
1956—
ABUT,
KENYA,
TANGANYIKA, ZANZIBAR,
UGANDA, ADEN, SOMALI REPUBLIC,
NORTHERN AND SOUTHERN
Net Oper. Earn.
*$1,295,000
858,150
705,609
529,455
2,992,034
433,995
Net Oper. Income
Dividend
.
.
u
-.
.
"< RHODESIA
:
'
>
—
1956
270,000
270,000
business
.70
.63
240,000
240,000
Third Quarter
as
of Dec.
31, 1960:
-
Capital (370,000 shares @ $12.50)
Surplus
Statistics
_______
Undivided
10 N. Y. CITY
—
profits
Reserves
—
Bulletin
on
Request
•
1-I24tr49
Specialists in Bank Stocks
in
be
conditions
$23.60
would
depend upon what measures will
adopted by the powers that be
to
BEACH, Fla.
.Securities
been
of
formed
TP1
—
• j
Florida,
with
G. E.
T
Inc.
offices
•
at
C,
,
has
it
350
to
the
which
seems
tions
of
most
market
money
ex¬
for.
This is based upon the nor¬
mal
seasonal
ness
at
this
of
needed
defense
cannot
to
busi¬
year,
which will
along with the funds
be
of
the
demands
time
carry
program.
forward
our
However, sight
be lost of the international
developments in both the political
and
monetary
spheres.
Specialists in
U. S. GOVERNMENT
and
the
FEDERAL AGENCY
in¬
no
SECURITIES
be-
not
thus
as
though
which is
much
have
the Federal
Axelrad,
President,
Axelrad, Vice-President, Secretary and Treasurer.
the
now
more
with.
one
Aubrey G. Lanston
In
8c Co.
prob¬
protection
international
fear
I.
out.
For
predic¬
program
perts are that only a modest up¬
trend in interest rates is looked
INCORPORATED
of
dollar, because of the deterio¬
an(j
Nelson
this
Budgets.
contend
is
Lincoln Road to engage in a se?uritiesJ business: Officers are
Leonard
carry
the foreseeable future the
unem¬
picture
the
addition to the number
rating
G. E. C. Sees, v of Fia.,,
level of interest rates
availability of credit will
be
since
Federal
will
unfolding
-
Bell Teletype flY
of
However,
lem,
MIAMI
imfcqrtant
an
our
and the
this type of
the boom
in
the business pattern
Laird, Bissell & Meeds
Telephone: BArciay 7-8500
playirig /such
Disquieting
Members New York Stock. Ekdaaofe
American Stock Exchange
BROADWAY. NEW YORK 5, N. Y.
fears
forces
Trend
Members
120
Because the international situa¬
necessitating ■ stern
monetary
measures
by the powers that be:
-
$4,625,000
4,100,000
7,142
2,064,658
$10,796,800
Book value per share
Upturn in Interest Rates
Expected
Small
than what would be termed usual
BANK STOCKS
has
transfers
money
been
interfered
would
upturn,
part
come
-
Estimated.
Capitalization
be
bust
and
•
*
pat¬
that
fear
flationary
.70
1.81
1957—j—.
370,000
.83
'
r
to
move
the
§olve
would
1.04
1
to
continue
There
with.
2.21
...
1958—
market
capital
time
recovery
2.16
1959
continue
without
370,000
*3.50
J—
hot
on
made
3.18
:
I960—
profitability of
past since the
these
problem
so
that
if
changes
in monetary policy
should be warranted they could
Shares Outstand.
$1.50
in
direction
the
ployment
be
*$3.50
.—
along
ahead
should
and
with
will
-Per Share-
——.
are not likely to be
such volume in that
as
they have been in
England
interest rates from
time to time, mainly for the pur¬
pose
of
keeping
the
available
credit from getting beyond nor¬
mal recovery limits.
This kind of
uptrend
in economic conditions
Estimated.
1961
INDIA, PAKISTAN, CEYLON, BURMA,
Oper. Rev.
72,588,833
pattern
pretty much on an even keel with
only a modest amount of pressure
$5,400,764
4,856,637
77,324,591
going
should
being put
4,047,131
3,471,503
It is
situation.
type of recovery which
breeds confidence.
;
Under
these
conditions
the
x
77,267,533
KENYA, UGANDA, ZANZIBAR
Branches in:
13.7
is
uncer¬
show the
P. E. Ratio
Earnings
*$3.50
Deposits
$110,456,686
98,710,746
1958—_
92,807,127
1957—
82,206,876
*
Bankers
19(i0
to
moving
as
$97,933,285
90,364,418
86,969,574
I960—
1959—_
London Branches
'
and
business
the
which
lines
ALBUQUERQUE
3.1%
Total Resources
86, BISHOPSGATE, LONDON, E.C.S.
54 parliament
Yield
$1.50
pay¬
gold losses.
our
confused
that
home
at
Estimated.
Head Office:
<
Dividend
$48
(
IN
of
to be considerable
international
terns
NATIONAL AND GRINDLAYS
the
money
BANK
and
by
more
balance
our
appears
evident
city expands.
NATIONAL
and
more
of
for
tain
Secretary and Treasurer.
FIRST
funds
fore
size
not
branching is permitted,
to
that
evidence
is
quate protection will be given to
the dollar so that it will still be
the world's best currency. There¬
money
market,
Earnings and dividend
1960 the bank offered
continue
6%
which could be shifted from here
tion is
agreement that the Government
both the shorts and the
longs, would be having a real
picnic for themselves if it were
noting the yield
to the return on
in all phases of banking and trust
is a main office in downtown Albu¬
querque and five branches. Because limited
it is expected that the First National will
as
part in our monetary policy, ade¬
There
as
engages
example*
for
the second and latest re¬
in the British bank rate
duction
Determine
Course
the
of
ments deficit
worthwhile
when
appears,
though
determined
compared with other growing banks
and will not necessitate stock sales in the near future.
Company, 734 15th St., North¬
west, is
is
stocks
It
mar¬
the
100,000 shares of common stock on a ratio of one for each 2.7
shares held. On the basis of reported capital the ratio to
deposits
Corporation
WASHINGTON, D. C.
ben
Albuquerque
bank
action
The
the
growth have
1936.
&
the
help in this matter.
us
ketsiji this country* in the opin¬
ion of a growing number of fi¬
nancial specialists, is going to be
Although only
(3.1%)
hap¬
a
Therefore,
it
becomes
very
imperative that the dollar
be very definitely protected and
kept sound by all means at our
disposal. And it is also becoming
evident that the other free world
nations are likewise going to give
pening.
A A:
Rates
Money
/
Albuquerque's growth would have to be achieved through a hold¬
ing company which has many more important bank holdings.
other
vo"'!
Position/ to
Dollar's
Albuquerque has three major banks, the First
Albuquerque, The Albuquerque .National; and
New Mexico. The latter is one of'the banks-Held
in
predicted that Eisenhower
elected
which will have
brunt of such
British bank rate.
r
principally by Western Bancorporation therefore participation in
shown in
the
practically eliminated
through this last reduction in the
period, aside from the refunding
obligations as they mature.
be
Sub¬
the
currency
ing the balance of the 1962 fiscal
would
1955.
in
be
not
of
Tabell
around
will
so
market again for new money dur¬
of
time
some
might result from the
Government
sequently, the high was 525. In
1952, four days before Election,
500
attri¬
the
of
care
It is not a new cash
borrowing. This means that the
one of the two remaining commercial backs is
following statistical compilation the First National
has the strongest capital position of the banks in the
city even
though deposits at the year-end are somewhat less than those
that the average would reach
and
take
people
to
refunding.
of
of
to
which
tion
11.4
Bank
money
specialists.
is
time
338 Cities
Albuquerque
2.4
city
most
Treasury has said that the
raising of the $800,000,000 at this
2.9
Bank
of
The
1,618
The
ideas
the
market
omitted)
1,665
the
has
district
3%% bond due in 1974. It seems,
18.5
1954—
National
financial
looking for, aside from the
however* as though not quite as
long a bond as the reopened 1974
maturity would have been in line
-Percent Increase-
1960—
a
The issues
operation.
the
been
DEBITS
Albuquerque
bear
what
14.5
201.189
the
to
from
be
to
in the anticipated pack¬
deal for this regular refund¬
ing were pretty much in line with
7.2
173.1
is
is
cash)
going
offered
16.1%
33.4
of
all
by
age
United States
1953
predictions, which
markable accuracy. Tn 1948,
City
26,570
concern
minds
very
(or
successful
Change-
Population
I960—
the
highly improbable at the
have
time,,
A
—
the
the
in
inflation
over
Federal
the
by
revives
Government
unbal¬
continued
of
fear
budgets
that there could be a
flight from the monetary unit into
those things which are considered
to be hedges against the depre¬
ciation of the currency. This kind
of a development has an adverse
influence, not only at home but
also the world over and the dollar
indications
eventually encourage some tourist activity. One
of economic growth is the trend of bank
deposits. Albu¬
shows a generally consistent and favorable trend.
-Per Cent
1940__
versity of Vermont School of Fi¬
nance,
and others. He also ad¬
dresses many statistical and
business
groups
such
as
the
Security Analysts groups in many
individual
cities
throughout the
country, and various trade organi¬
zations.
His
articles
appear
in
many newspapers and magazines.
seemed
population
substantial
a
should
1930__
has
of
j
querque
University of Pennsylvania, Uni¬
Some
had
This
anced
3.97%
addition tv the
their price relationship
the
over
measure
lectured to
classes
at
Columbia
University,
Harvard Business School, Whar¬
ton
195786
state
market
technical
and
and
has
during the 1962-1963 fiscal year.
963,000,000 of the 2V2S due Nov.
15 by a 314%
(short) note due
Feb.
15,
1963, at 100; a 3%%
(long)
note maturing
May
15,
1966 at 99%
to yield 3,81%; as
well as through the reopening of
the 3%%
(medium term) bond
due Nov. 15, 1974 at 99 to yield
serving a metropolitan area including 270,000 people. In addition
its importance as a trade and service center, the area has
important Federal installations which include an Atomic Energy
Commission project and a sizable Air Force base. In addition to
the untapped mineral potential in New Mexico the climate of the
to
by
companies in the United
States, Canada, England and Scot¬
land, pension funds, trust compa¬
nies, casualty companies and in¬
vestment
companies, as well as
large
individual
investors.
His
findings are based on both funda¬
analysis
a strip of $800,000,000 of bills maturing weekly
between Dec, 7, 1961 and Jan. 25,
1962.
The refunding of the $6,-
period but also not
fiscal
current
sale at auction of
past 10-years. Although the city now has a
population of more than 200,000 it is a trade and service center
many
mental
shown,
as
Treasury today finished its
refunding venture with the
1961
and
.
increase
ana¬
consulted
earnings
for limited investment participation. In
Albuquerque,
a
He
estimated
lower multiples at which these stocks sell,
to book value is often more realistic.
national repu¬
tation
times
20
vehicles
&
has
to
the so-called growth
banks in the West and Southwest are selling at considerably
higher earnings multiples, it appears necessary to look to some
of the major banks in smaller but growing areas. Although supply
of stock may be a present factor in deterring institutional invest¬
ment in some of these commercial banks, they are interesting
Director of In¬
search
The
period when the major New York City banks are selling at
a
close
d W.
m u n
Tabell, Vice
CHIPPENDALE, JR.
payments,
only
by
there a is
many
not
be
balance
the
of
growing
that the budget of
Government will
balanced
not
during the
•;
;
20 BROAD STREET
A A
,
•
V.
\ \ NEW YORK
;
;
•
a;
.......,
CHICAGO
*
: r
BOSTON
•
_'
Volume
194
Number 6106
.
.
The Commercial and
.
Financial Chronicle
(2093)
Indications of Current
Business Activity
AMERICAN
AND
steel
STEEL
week
operations
(per
cent
capacity)
Nov.
Week
4
70.0
ingots
AMERICAN
Crude
42
and
PETROLEUM
oil
and
gallons
Crude
castings
Gasoline
Nov.
to
fuel
51.4
2,102,000
1,464,000
(bbls.
_
output
28,971,000
29,313,000
8,101,000
'29,858,000
7,934,000
27,968,000
,
Oct. 27
*._*•„
*««
.
2,942,000
3,035,000
2,895,000
13,462,000
13,808,000
13,264,000
5,612,000
5,718,000
5,854,000
>
(bbls.)
at
Middle
185,305,000
184,484,000
Revenue
freight loaded
Revenue
freight received from connections
CIVIL
ENGINEERING
(number of
>
.
U.
S.
36,485,000
35,790,000
36,626,000
172,957,000
166,139,<000
178,924,000
49,940,000
50,408,000
50,220,000
\
.
■
t
Public
and
647,549
650,775
638,268
526,653
525,245
517,410
Nov.
$417,100,000
$450,500,000
318,000,000
166,400,000
243,400,000
2
209,000,000
250,700,000
207,100,000
203,600,000
188,500,000
167,600,000
2
.165,200,000
43,800,000
47,100,000
18,600,000
40,600,000
Oct. 28
8,990,000
*8,620,000
8,775,000
Oct. 28
422,000
386,000
334,000
8,154,000
401,000
Nov.
———
$373,400,000
Pennsylvania
lignite (tons).
anthracite
,—
(tons)—,
4
SYSTEM—1947-49
EDISON
ELECTRIC
Electric
output
FAILURES
INSTITUTE:
(in
ACE
steel
(per
Pig
(per
gross
iron
Scrap
steel
(per
METAL PRICES
Domestic
Export
(St.
—
DUN
——
15,396,000
15,263,000
2
344
304
Oct. 30
6.196c
.
_Oct. 30
$66.-44
Oct. 30
■
tZinc
&
M. J.
York)
-
30.600c
Aluminum
.-
.
•
•
Straits
U.
BOND
at___
10.800c
'11.800c
12.000c
13.500c
11.000c
—Nov.
1
10.300c
10.800c
12.000c
12.000c
—
-
—
—
DAILY
Nov.
1
Nov.
—
1
24.000c
24.000c
24.000c
123.125c
120.875c
122.000c
11.500c
-
L.U-
——
.
Nov.
7
87.40
7
86,11
85.98
7
90.34
90.00
7
88.27
88,13
7
85:33
Public
industrials
Group
Government
S.
•'Average
.Aaa
83.53
._Nov.
7
87:t)5
86.91
7
87.72
Bonds
corporate
——
3.93
Nov.
7
4.70
4.71
4.73
Nov.
Nov.,
t__.;
a-—-
7
4<39
4.40
4.42
—_i—
7
4.54
—Nov.; 7
4.76
4,77
5.11
5.13
4.90
4.91
7
Nov., '7
—.
-Nov.
Nov.
7
PAPERBOARD
4.55
4.57
received
'
4.93
4.65
4.60
,4.49
Percentage
of
Unfilled
orders
374.3
•
activity(tons) at
DRUG
AVERAGE—100
ROUND-LOT
329,629
.
324,962
V
1
r.
-.
ehd
of
periods
349,991
99
97
98
Oct. 28
Oct. 28
,
ACCOUNT
FOR
551,042
570,722
,,
Total
of specialists
in stocks
OF
3
113.88
113.90
113.71
'
109.77
Other
sales
on
the
Short
transactions for account
of
.9
Other
Number
Dollar
of
AND
SPECIALISTS
N.
ON
SECURITIES EXCHANGE
—
by dealers
(customers'
Y.
shares
orders—-customers'
total
short
sales
Other
Round-lot
TOTAL
867,322
840,665
707,173
74,330
631,730
by
68,950
773,650
810,573
3,751,372
>
13
706,060
473,475
3,317,053
SALES
ON
*
*
515,570
402,630
3,616,273
3,126,720,
Short
.2,824,120
3,712,650
3,339,690
1,836,795
2,239,425
'
LABOR
—
All
(Per
1,752,184
1,774,044
1,635,836
$95,060,259
$95,250,211
$94,018,032
1,263,670
$62,833,952
1,739,682
1,711,169
1,617,693
1,094,297
14,260
18,036
19,307
23,109
1,725,422
1,693,133
1,598,386
1,071,188
$89,486,568
$86,657,972
$84,561,257
$54,749,975
511,790
480,830
497,950
Meats
Banks
•
All
commodities
sold
on
fieure.
than
farm
of
4971950
295,800
Net
506,410
483,990
Other
not
reported
delivered basis at centers where freight
30.598c
28.036c
27.111c
£222.232
£233.065
£224.071
11.000c
11.000c
12.000c
£64.068
£65.690
£68.879
11.500c
11.500c
13.000c
12.000c
12.000c
£71.892
ton)
10.800c
£63.991
£73.943
£87.911
£74.536
£86.622
£72.832
11.800c
£67.250
'
13.500c
91.375c
76
91.375c
79.750d
79.488d
$2.81222
$2.81159
121.042c
121.881c
103.319c
$35,000
$35,000
$35,000
$188,619
pounds)—.
$188,000
$209,000
;
36.250c
36.250c
,'j
32.500c
32.500c
;
33.000c
33.000c
\
(per lb.)
24.000c
pound)—
delivered
26.000c
23.250c
:'
81.250c
23.250c
•••'
74.000c
$2.25
$2.25
$2.25
$82,000
$82,000
$82,000
$1.60000
—
ton
lots)
lots)-
$1.60000
$1.50000
J
$1.70000
(per pound)
$1.70000
$1.60000
$1.50000
$1.50000
AVERAGE
32.590c
29.000c
29.500C
;j
25.500c
23.250c
—
small
91.375c
79.864d
$2.81535
$1.50000
3.66
YIELD—100
of
(125)
(25)
October:
2.91
2.99
4.76
4.90
2.85
2.99
3.83
2.78
3.06
4.02
2.10
2.22
3.07
2.95
3.03
3.74
$35,636,983
—
Amer.
Tel.
&
Tel.)
(24)
(10)
(200)
6.02
income
Income
647,770
722,460
669,830
16,231,300
16,034,460
15,081,560
16,879,070
16,756,920
15,751,390
574,790
10,823,940
11,398,730
available
fixed
Income
Other
deductions
for
from
fixed
charges
after fixed charges
31,089,448
31,253,682
47,687,815
13,783,618
118.6
118.6.
118.8
3,529,204
Depreciation (way. & structure & equipment)
income
taxes
4,092,924
43,594,891
53,619,847
53,536,199
25,641,410
52,536,097
31,686,854
27,314,746
14,867,940
stock
86.3
*86.5
87.2
88.6
108.6
108.1
108.8
94.9
94.0
95.9
Oct. 31
127.3
127.2
127.5
127.9
common
On
119.4
preferred stock————
Ratio
of
of
Monthly Investment Plan,
from East St. Louis exceeds one-half
cent
a
pound.
N.
JPrime
A.
Not
Western
Zinc
available.',1
income
to
♦Revised figure.
96%
of
end of
primary,
1957.
49,001,465
20,388,262
income
Dividend appropriations:
93.9
introduction
45,037,300
23,917,466
deductions
Net
3,964,165
78,777,263
30,633,601
;
4,737,400
54,551,067
charges
25,058,823
83,514,660
4,766,120
income
$23,942,642
24,147,600
59,317,187
:
$59,367,063
23,680,204
income
Miscellaneous
<
108.2
since
10.800c
£62.622
railway operating income
Total
*_Oct. 31
and foods
orders
30.604c
£229.452
INCOME ITEMS OF U. S. CLASS I
(Interstate Commerce Commission)—
Month of July:
480,830
Oct. 31
tNumber
31,100
RYS.
571,340
Oct. 31
other
*32,090
(15)
where
♦Revised
of
(per
grade
(not incl.
Average
511,790
Oct. 31
—•—
—
32,090
£229.409
price)—
On
—
$54,260
£228.636
;
.
WEIGHTED
Insurance
Federal
products....
foods
u-w——
-22,690
*$53,620
27.875c
v
pound,
Utilities
531,280
;
Processed
:
•
'
SELECTED
U. S. DEPT. OF
,j
$31,570
,-.
*23,030
30.600c
pound)—,
COMMON STOCKS—Month
*
commodities
Farm
i
(per
(per pound,
Industrials
295,800
Oct. 13
:v
•
..
—
*$30,590
1
Sterling Exchange—
Cobalt, 97%
Oct. 13
NEW SERIES
Louis
refined
Cadmium
Oct. 13
—
(1947-49=100)
7,102,000
^
(per pound)
Platinum,
Oct. 13
sales..
Commodity Group—
16,505,000
9,403,000
'
81.250c
Bismuth
STOCK
sales
WHOLESALE PRICES,
■'
-;:-
grade primary pig export
Total
sales
_•
**Nickel
sales—
Other
Total
'
*■
pound)-
grade ingot weighted avrage
99%
"
"
roUnd-lot
(per
Aluminum—
Oct. 13
EXCHANGE AND ROUND-LOT STOCK TRANSACTIONS
FOR ACCOUNT OF MEMBERS (SHARES):
Total
'Y'
York, boxed (per pound)
Laredo, bulk (per pound)
Laredo, boxed (per pound)
Oct. 13
<
THE N. Y.
'
UNew
2,283,162
585,930
Oct. 13
*
purchases by dealers—Number of shares..
STOCK
*16,175,000
*9,151,000
*7,024,000
-
months, London (per long
and
99%
3,630,405
dealers—
—
ROUND-LOT
842,600
510,520 *
3,105,753
Oct. 13
.
\v.. *
* - *♦
Antimony—
1
79,020
Oct. 13
t
refinery
Railroads
„
sales
172.5
QUOTATIONS )—
-
-
(per ounce U. S.
Quicksilver (per flask
394,455
86,542
724,033
Oct. 13
sales
shares—Total sales
jl
M.
&
'*
Gold
477,612
Oct. 13
sales
Short
192,700
sales)—
value—*
of
*
(El
•
St.
MOODY'S
sales
Number
168,400
323,980
Oct. 13
sales
other
Dollar
290,580
Oct. 13
Customers'
1
Y
$53,760
—;
Silver, New York (per ounce)
Silver, London (per ounce)
STOCK
—
Customers'
Round-lot
285,220
317,020
COMMISSION
<
(customers'
*172.3
12,399,000
*6,667,000 -7
6,949,000
*5,360,000 ■*- Y 5,450,000
23,120
Sterling Exchange (check)
Tin, New York Straits
24,300
352,020
378,020
purchases)—t
value—
of
33,400
FOR ODD-LOT ACCOUNT OF ODD-
purchases by dealers
Number
31,800
..Oct. 13
DEALERS
EXCHANGE
Odd-lot
199,300
26,000
"Oct,
sales..
sales
299,920
Oct. 13'
*
'
.
.
TRANSACTIONS
Odd-lot
1,573,250
357,650
Silver
members—
sales.
LOT
2,309,650
384,410
Oct. 13
poloc
sales
STOCK
1,273,940
Oct. 13
purchases.:
Short
Total
1,901,810
Oct. 13
round-lot
f
2,067,850
2,553,030
Oct. 13
—*
sales
Total
2,029,700
2,427,680
Oct. 13
sales
Total
299,310
floor—
sales
Other
*12,027,000
$30,640
§§Prime Western, delivered (per
pound)
ttLondon, prompt (per long ton)
ttLondon, three months (per long ton)
1,606,250
407,840
Oct. 13
initiated
purchases
Total
2,309,960
485,180
Oct. 13
sales
transactions
Total
2,432,090
397,980
floors-
sales
Total
2,499,640
Oct. 13
the
purchases
Short
Other
East
Oct. 13
off
;
Zinc-
Oct. 13
transactions initiated
4,283
3,148
SALES
__4__
j
ttThree
Oct. 13
—
sales
Total
&
(millions of dollars):
.%
_L-_
.4^,
,
Common, New York (per pound)
Common, East St. Louis (per pound)—
ttLondon, prompt (per long ton)
;
MEM¬
sales
Other
..
Lead—
418,183
Oct. 13
Other
Total
■
Sept.
,4...
91
Oct. 13
sales
4,317
.
3,409
L6,326,000
9,280,000
7,046,000
t+London, prompt (per long ton)
ttThree months, London (per
long ton)—
in which registered—
purchases
Short
3,001
10,952
.
..Nov.
TRANSACTIONS
521,854
*
10,543
11,748
4,288
12,175,000
6,786,000
5,389,000
:
'
-a
Export
INDEX—
PRICE
•
172.3
/./■
.'Y.,;-;""
Domestic refinery (per pound)
318,032
355,206
Oct. 28
REPORTER
workers)
Copper—
299,841
356,111
18,021
employees in manufac¬
'
'
Nondurables
-
Sal6S
BERS, EXCEPT ODD-LOT DEALERS AND SPECIALISTS
Transactions
.
of
METAL PRICES
353.5
.
365,915
.Oct. 28
<——
OIL, PAINT AND
1949
-OCt. 28
———«
(tons)
:
(production
manufacturing
goods
October:
364.3
42,517
/
4,556
4,303
3,398
.Total
4.55
4,59
Ov
V.".
4,614
.
___1
Durables
/
4.85
4.64
,
'
$54,265
-
5.08
ASSOCIATION: I
(tons).,
12,315
manufacturing
—Month
4.69
4.58
364.4
V"
2,995
11,609
12,253
11,661
goods
Inventories—
'
Orders
Production
3,008
IIIIIII
goods
MANUFACTURERS' INVENTORIES
4.47
•
10,682
I
Durable
4.63
513
17,350
payrolls—u. s. dept.
revised
series—Month of
labor
All
4.29
*'4.80
9
42,636
17,179
and
turing industries—"
-3.83
/.
4.63
7
—
INDEX
COMMODITY
NATIONAL
7
i-_
' Industrials Group——
MOODY'S
Nov.
.Nov.
————————
Railroad Group————.
Public Utilities Group—
•
credit
manufacturing
All
,
3.91
$54,889
42,554
:
"
Aa
$54,869
"
"H
Estimated number of
88.95
3.93
62,300
4,425,748
credit
goods
IIIIIII
Payroll indexes (1947-49 avge.=100)—
88.13
7
Nov.
—*
3,604,500
84,565
10,706
term
Nondurable
.
4,464,445
4,301,477
Sept. 30:
loans-
Durable
81,29
87.45
3,666,800
74,237
Nondurable
84.17
86.78
.
All
86.24
•
83.15
.
97,000
4,549,010
September:
1
DAILY AVERAGES:
———-—
Baa
/.
84.81'
80.69
'
,
111,000
.
4,556,975
consumer
Service
89.23
87.59
,
,
*/'
87.86
1,098,000
4,101,114
credit
Noninstalment credit
Single payment loans—-___
Charge accounts
91.77
'
601,000
ZIII
credit
employment
87.05
89.92
'
83 40
Nov..
YIELD
•
87.38
85.72
80.69
7
Group—
MOODY'S BOND
U.
1-
80.93
.——Nov.
Group-
Utilities
87.50
hlm2<r',r^
7
Railroad
of
as
consumer
Personal
,
13.000c
<
698,000
684,000
4,631,212
___IIII
4
87.46
Nov.
795,000
148,142,480
'
,
stocks
millions
of
—
_Nov.
+
_•*_
Nov.
corporate
.
AVERAGES:
_-.Noy.
Average
11.500c
$1,657,000
862,000
$1,796,000
990,000
ofseptl:
goodr__
Repairs and modernization loans
'
103.375c
11.500c
14,043
118,000
(net tons)______
coke (net tons)
coke
Other
\
26.D00C
1
15,079
761,000
IIIIIIIII
municipal
-
Nov.
***__—
——
99.5% ) at-————
at_-
Bonds
12.000c
10.500
.——Nov.'; 1
-
PRICES
Government
S.
11.000c
1
'
i
in
26.825c
27.925c
Nov.
—
.
Louis)
27.475c
27.950c
$561,739,390
:
^mated short and intermediate
29.600c
1
——
at
(primary pig,
30.600c
Nov.
at-
tin.(New York)
MOODY'S
$66.32
$28.17
?0.600c
$617,326,248
omitted):
Automobile
1
$709,881,870
39,127,412
SERVE SYSTEM—REVISED
SERIES—Esti-
6.196c
$66.44
$39.17
$857,457,676
240,131,428
126,627,632
construction
Instalment
Nov.
—.
;*
:
.
(000's
coke
Beehive
•
at———
Louis)
(East St.
6.196c
$66.44
132,712,983
13,616
*
at end of month (net
tons)
CONSUMER CREDIT OUTSTANDING—BOARD
OF GOVERNORS OF THE
FEDERAL RE¬
317
QUOTATIONS):
at—-
City
(bureau of mines)—Month
Production (net tons)
Total
(E.
(delivered)
-Zinc
::
45,985,581
35,177,661
130,130,230
$599,690,881
—
York
coke
14,373,000
330
49,121,895
879,000
I
New
construction
and
Oven
15,035,000
:V'
49,767,508
$928,446,523
328,755,642
—
construction
State
149
$37.83
:
*
•
156
6.196c
$34.50
-
S.
Public
Oven
Nov.
—
ton)
U.
Private
&
—
ton)
refinery
(New
Lead
INDUSTRIAL)
lb.)
gross
refinery at-
Lead
163
4
—Nov.
...
City_J)
outside
October
Total
PRICES:.
Electrolytic copper—
/
AND
-
,
—
COMPOSITE
Finished
,
-
INC.
152
187,070,137
128,576,090
104,943,572
38,435,408
$1,869,000
States____
Federal
Oct. 28
—
United
York
of
V
;
kwh.)
000
(COMMERCIAL
BRADSTREET,
IRON
AVERAGE—1(J0
$29,228,760
—
DEPARTMENT STORE SALES INDEX—FEDERAL RESERVE"
>
$36,043,525
284,637,293
85,194,541
121,009,917
119,278,928
engineering construction—
engineering news record
Month
(U. S. BUREAU OF MINES):
coal and
$26,946,167'
395,201,774
49,168,140
129,046,399
civil
..
Bituminous
6,446,647
27,954,047
;
business incorporations
(new) in the
united states—dun &
bradstreet,
inc.—Month of September
208,200,000
Nov.s 2
•
-
III"
III""
I"""
.IIIHI, I
I-III"
Central
Total
165,200,000
Nov.
—;
-
OUTPUT
$527,000,000
2
,
Federal
COAL
2
-Nov.
s
-
i—L__,
.
Central
New
620,807
531,852
5,689,403
&
Month
—
Mountain
CONSTRUCTION—ENGINEERING
municipal
lYi
—>_:,l
Atlantic
Total
of cars)__Oct. 28
construction
State
6,917,346
CITIES
Pacific
;
Oct. 28
construction
374
DUN
—
49,917,000
construction
Private
by
,
124,380,469
36,836,000
NEWS-RECORD:
Total
transport
VALUATION
Central
West
186,815,000
177,091,000
cars)
(no.
freight
tons).
Atlantic
South
East
—Oct. 27
—
ASSOCIATION OF AMERICAN RAILROADS:
v
2,535,000
—Oct. 27
oil
(in
PERMIT
September:
New; England--
South
183,178,000
Ago
of
5,717,000
-
fuel
general
BRADSTREET, INC.—217
12,956,000
Oct. 27
(bbls.)
(bbls.)-.
6,804,660
8,365,000
Oct. 27
*_•
output
7,155,860
8,146,000
Oct. 27
.
(bbls.)
7,118,460
Oct. 27
Stocks at refineries, bulk terminals, in
transit, In pipe lines—
Finished and unfinished gasoline
(bbls.) at—Oct. 27
Kerosene
(bbls.) at
—
Oct. 27
Distillate fuel oil (bbls.) at
Residual
Intercity
BUILDING
7,127,510
Year
Month
TRUCKING ASSOCIATION, INC.—
Month of August:
of
(bbls.)
average
(bbls. )**
oil
AMERICAN
Previous
Month
Ago
72.0
Oct. 27
oil
fuel
Ago
2,057,000
2,044,000
of that date:
Latest
carriers
output—dally average
stills—daily
output
4
either for the
are
are as
Year
INSTITUTE:
condensate
Kerosene' output
Residual
tons)***
each)
runs
Distillate
(net
Month
quotations,
70.5
Equivalent to—
Steel
month available. Dates shown in
first column
on that
date, or, in cases of
or
month ended
or
Previous
Week
INSTITUTE:
following statistical tabulations, cover production and other
figures for the
latest week
Latest
IRON
Indicated
The
29
95%
;
fixed
16,263,755
'
11,301
on
2.53
or
more
but
303,006
1.44
reports from companies accounting for
secondary tin consumption in
^Domestic five tons
7,434,676
560,729
1.78
charges
tEstimated totals based
of
''
4,178,608
9,605,110
1957
and
less than carload
lot
97%
of
boxed.
total
stocks
§§Delivened
freight from East St. Louis exceeds 0.5c.
**F.o.b. Fort Colburn, U. S. duty
ttAverage of daily mean and bid and ask quotations per long ton at
morning
session of London Metal Exchange,
n
'•*••••
1
•
•
•-/.
included,
30
The Commercial and Financial Chronicle
(2094)
.
.
ADDITIONS
* INDICATES
in
Now
Securities
—
Because of the large
number of issues
phia.
predict pffering dates
with a high degree of accuracy. The dates shown
in the index and in the accompanying detailed
items reflect the expectations of the underwriter
but are not, in general, to be considered as firm
offering dates.
increasingly difficult
•
to
'
25,
ment.
Inc.
^
/
Jan. 19, 1961 filed > 100,000 shares of class A stock, of
which 75,000 are to be offered for public sale by the
company and 25,000 shares, being outstanding stock, by
the present holders thereof. Price—-$10 per share. Busi¬
ness—The company is engaged in the business of leasing
automobiles and trucks for periods of over one xpsi£.
Proceeds—To repay loans; open new offices in Philad^f*
phia, Pa., and New Haven,,Conn.; lease qnd equip a large
garage in New York City and lease additional trucks.
Office—1616 Northern Boulevard, Manhasset, N. Y. Un¬
A-Drive
ABC Air Freieht Co.. Inc.
Oct.
purposes. Office—369 Shurs Lane, Philadel¬
Underwriter—Roth & Co., Inc., Philadelphia.
corporate
awaiting processing by the SEC, it is becoming
1961 filed 105,000 common. Price—By amend¬
Business—Furnishing
of
air
freight services
System,
Leasing
Auto
ler
Co., N. Y. Offering—Expected in January.
ir Alan-Randal Co., Inc.
-Oct.
ABC
terial. Proceeds
Business—A
A")
("Reg.
1961
100,000
of
converter
common.
iPrice—$3.
Coast
All
material, produc¬
packaging
polyethylene and cellophane bags and sheets. Pro¬
ceeds
For a-new plant pnd equipment and working
ing
•
Aye., Brooklyn. Under¬
Securities Corp., N. Yr
Utica
Office—1368-72
writer—Havener
Instrument, Jim:.
filed 150,000 common. Price—By amend¬
ment. Business—Manufacture of instrument testing and
measuring devices for the electrode .and electrical in¬
dustries.
Proceeds—For debt repayment and general
A. A M.
Oct.
19,
1961
nated
radio
telemetry
for
systems,
the
Proceeds—For
missile,
research
Joint
—Imminent.
&
:
(11/13-17)
1961 filed 230,000 common, of which 160,000
are t© be offered by the company and 70,000 by a stock¬
holder. Price—By amendment. Business—The manufacr
AWT Corp.
of
turer
kit form.
and
scale model plastic automobiles distributed in
Proceeds—For equipment, repayment of loans,
working capital.
Office—1225 E. Maple Rd., Troy,
Underwriter—A. G. Becker & Co., Chicago
Mich.
(mgr.).
Abbey Rents
Sept. 25, 1961 filed 200,000 capital shares, of which 100,000 will be sold by the company and 100,000 by stock¬
Business—Rental and
sale of party, sickroom and hospital equipment. Proceeds
-—Expansion, inventory and working capital. Underwriter-^William R. Staats & Co., Los Angeles.
holders.
amendment.
Price—By
:
■/;■
Blvd., Long Island City, N. Y.
31-04 Northern
—
Allied
Capital Corp......
filed 213,427 common, of which 200,000 will
to the public and 13,427 to stockholders on
l-for-10 basis.
Price—By amendment.
Business—A
Oct. 20, 1961
be
a
x
offered
small business 'investment company. Proceeds—For in¬
vestment.
Office—7720 Wisconsin Ave., Bethesda, Md.
filed 100,000 common shares. Price—$5.
Business
The importation and distribution of Italian
marble and mosaic tiles.
Proceeds —For the purchase
1961
7,
Rental Corp.
Sept. 28, 1961 filed 50,000 common. Price—$4. Business—
Leases motor vehicles. Proceeds—For working capital.
Underwriter—None.
(11/13-17)
Aero-Dynamics Corp.
Aug.
Offipe—100 W.
Wilmington, Del. Underwriters—Alessandrini
Co., Inc. and Hardy & Hardy, New York (managing).
Office
N.
..
Europe. Proceeds—For ex¬
Tenth St.,
Office—2 Com-;
City, N. Y. Underwriter—A. J. Frederick Co., Inc., N. Y.
Sept. 11,
centers in
pansion and general corporate purposes.
frequency filters and power
rocket and space programs.
and development, equipment,
corporate purposes. Office—48-01 31st Ave., Long Island
Hicksville,
St.,
1971
due
debentures, at par; for stock, $5. Business—
venture with Brunswick, Corp. to establish and
operate bowling
~
Y.
Underwriter — Edward
Hindley & Co., and Hardy & Hardy, N. Y. C. Offering
mercial
debentures
All-State Auto
repayment of loans and working capital.
(11/27-12 1)
convertible subordi¬
and 150,000 common shares.
Wide, Inc.
Price—For
Advanced Electronics Corp.
May ;31, 1961 ("Reg. A") 150,OuO class A shares (par 10
cents). Pricq^$2. Business—Designs and manufactures
supplies
All Star World
July 7, 1961 filed $250,000 of 5%
—To
—
capital.
Service Life Insurance Co.
Sept. 18, 1961 ("Reg. A") 239,200 common. Price—$1.25.
Business—Writing of life, accident, sickness and health
insurance. Office—1729-N. Weber St:, Colorado Springs,
Colo. Underwriter—Copley & Co., Colorado Springs, Colo.
Adrian Steel Co.
establish a new industrial air-conditioner division.
Office—Adrian, Mich. Underwriter—Morrison & Frumin, Inc., Detroit.
•
—
Blvd., Studio City, Calif. Underwriter—Pacific
Securities Co., San Francisco, Calif.
Ventura
Sept. 11, 1961
Cellophane Corp.
7,
Sept.
120,000 common. Price—$2.50.
and other advertising ma¬
For working.capital. Office — 11608
("Reg. A")
27, 1961
Business—Distributor of pens
("Reg. A") 100,000 common. Price—$2.50.
Business—Steel fabricating and warehousing. Proceeds
&
Proceeds—For construction of
Office—4800 Baltimore Ave., Hyattsville,
Md. Underwriter—Whitehall Securities Corp., Pittsburgh.
plant.
new
a
.
derwriter—jHill, Darlington & Grimm, N. Y. C. (mgr.)
—467
Proceeds—For expansion. Office
Tenth Ave., N. Y. Underwriter—Flomenhaft, Seid-
throughout the U.,S.
REVISED
ITEMS
ety of building products.
ventory, research and development, advertising, promo¬
tion arid merchandising, repayment of debt and other
NOTE
•
ISSUE
PREVIOUS
SINCE
Registration
1961
Thursday, November 9,
.
Underwriter—Allen
&
Co., N. Y. Offering—In Jan.
—
Inc...
and installation of new moulds, machinery and equip¬ i Oct. 27, 1961 ("Reg. A") 32,839 common to be offered
ment, research arid general corporate purposes. Office—
by stockholders on the basis of one share for each two
250 Goffle Road, Hawthorne, N. J. Underwriters—Cam¬
shares held of record Nov. 1, with rights to expire Dec.
bridge Securities, Inc. and Edward Lewis Co., Inc., N. Y.
15, 1961. Price—At par ($1). Business—Publication of
textbooks.
Proceeds—For debt repayment and publica¬
Aero Fidelity Acceptance Corp.. (11/27,-X^lX)
v
tion of new books.
Office—659 Morgan Bldg., Portland,
July 11, 1961 ("Reg. A") 95,000 common. Price—$3. Pro¬
ceeds—For
^ Allied
Ore.
repayment of loans, purchase of notes and
equipment. Office—185. Walton Avq., N. W-> Atlanta, Ga.
Underwriters—T. Michael McDarby & Co., Inc., and J.
Morris
Anderson
&
1
Aero
Underwriter—None.
Alio
Precision
Engineering,
Metals
Associates, Inc., both of Washing¬
capital.
Space Electronics, Inc.
Office
Rockville,
Md.
Inc., Washington, D. C.
July 17, 4961 ("Reg. A") 80,000 capital shares. Price—$3.
Proceeds—For repayment of debt and working capital.
operated vending machines. Proceeds—For moving ex¬
penses, an acquisition and working capital. Office—79
Clifton Place, Brooklyn, N. Y. Underwriter — L. H.
Airport,
Office—Congressional
Underwriter—Davis & Leach,
July 26, 1961 ("Reg. A") 100,000 compiQn shares (par |0
cents). Price—$3. Business—The manufacture of coin
Inc.
1961 ("Reg. A") 85,000 common. Price—$3. Pro¬
ceeds—For debt
repayment, equipment, and working
Oct. 3,
ton, D. C.
Abby Vending Manufacturing Corp.
Publishers,
Wright & Co., Inc., N. Y. Offering—Imminent.
Jt Accurate Instrument Co. Inc.
Oct. 27, 1961
("Reg. A") 80,000 common. Price—$2.50.
Business—Manufacture of a repulsion type A. C. meter,
tube fester,
battery charger, car starter and utility
Proceeds—For debt repayment and other corpo¬
tester.
rate
White
Office—2435
purposes.
Plains
Rd.,
N.
Y.
Underwriter—None.
Alpine Geophysical Associates, Inc. (11/20-24)
July 28, 1961 filed 150,000 common shares. Price — By
Broadway, Santa Monica, Calif. Under¬
*„ amendment. Business — The conducting of marine and
writers-Hamilton Waters & Co., Inc., Hempstead, N. Y.
land geophysical surveys for petroleum and mining ex¬
;
Aero logical Research, Inc. (11/JL3-17)
'::/i
ploration and engineering projects, and the manufacture
Aug. 29, 1961 filed 100,000 common. Price—$3.50 Busi¬ ; of oceanographic and geophysical apparatus. Proceeds-rFor repayment of debt and general corporate purposes.
ness -7T The manufacture of instruments for aerology,
Office—55 Oak St., Norwood, N. J. Underwriter—S. D.
meterology, .oceanography,: geophysics and atmospheric
Fuller &
phenomenon. Proceeds—For working capital. Office—
Co., New York (managing).
;..; v
.420 Division St., Long Branch, N. J. Underwriter—A. D.
• Alson
Mfg. Co. (11/27-12/1)
Gilhart Ik Co., Inc., N. Y^y
; Aug. 28, 1961 ("Reg. A") 75,000 common. Price—$4. Pro¬
Aetna Maintenance Co.
ceeds—For equipment, repayment of loans and working
Sept. 25, 1961 filed 154,000 common, of which 128,000 are
capital. Office—2690 N. E. 191st St., Miami, Fla. Under¬
to be offered by-the company and 26,000 by stocknoiaers.
writer—Albion Securities Co., Inc., N. Y.
Price—By amendment. Business—Furnishing of clean¬
Aluma-Rail, Inc.
ing and protection services for office buildings, plants,
—
2036
..
9 Ace
Trophies Corp. (£1/20)
1961 filed 200,000 common. Price—$1. Busi¬
ness—The design, manufacture and sale of trophies,
plaques and cups for sporting eyents.
Proceeds -r- For
production expenses, printing, promotion, inventory and
working capital. Office—1510 Broadway, Brooklyn, N. Y.
Sept.
18,
and
Prpceeds^-To repay loans and in¬
military bpses.
working capital/ Office—526 S. San Pedro St.,
Angeles.
Underwriter— Schwabacher & Co., San
f,
crease
Los
•
Sept. 28, 1961 ("Reg. A") 100,000 common. Price—$2.25.
Business—Manufacture of new color anodized aluminum
chain link
fencing.
Proceeds—For inventory and plant
~
Underwriter—Ezra Kureen Co., N. Y.
Aceto Chemical
Francisco.
Co., Inc.
expansion,
sales
promotion, and working
capital. Office—40-40 Lawrence St., Flushing, N. Y. Un¬
derwriter—Karen Securities Corp., N. Y.
Acratex Chemical Coatings, Inc.
Aug. 8, 1961 ("Reg. A") 99,900 common. Price—$3. Busi¬
ness-—The manufacture of a wallcovering product. Pro¬
ceeds
For expansion and general corporate purposes.
Office—Easton St., Ronkonkoma, N. Y. Underwriter—
—
Securities
TycRe
Inc., N. Y. Note—This letter
refiled.
will be
.,
Aero Electronic Products Co.
Business—The
electronic
electrical
and
of
shares. Price
transformers
for
equipment. Proceeds—For
re¬
a
"
expansion.
"
(12/4-8)
r.
:
Sept. 6, 1961 ("Reg. A") 120,000 common. Price—$2.50.
Business—Importing, marketing and distributing ceramic
tiles. Prpceeds—Debt payment, new products, sales pro¬
motion and
advertising, new office and warehouse and
working capital. Office—522 W. 29th St., N. Y. Under¬
writer—International Services Corp., Paterson, N. J.
•
Office—44 Passaic Ave., Kearny, N. J.
new
plant, purchase of in-
1961
(12/11*15) ;
filed 200,000 shares of class A
Alyeska Ski Corp.
Oct.
12, 1961 ("Reg. A") 240,000 common. Price—$1.25.
Operation of ski facilities. Proceeds — For
general corporate purposes. Address—P. O. Box 1882,
Business
—
common
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
amendment.
Business
The manufacture and sale of
minum
YOUR PRIME SOURCE FOR
storm
products.
and doors, and other alu¬
Proceeds—For working capital, and
Office—20th Street, and Alle¬
windows
International
Corp.
of
H
a*
gheny Avenue, Philadelphia, Pa. Underwriter—Francis 1.
du Pont & Co., New York City (managing).
Airtronics
I % I
77
other corporate purposes.
•
Florida
July 29, 1961 filed 199,000 common, of which 110,000 are
YOUR #2
ers.
Only New York edges out Chicago in number of individual
owners
of marketable securities. In the
past
number of
here
owners
Tribime is read
has increased
54%!
five
years,
The
the
Chicago
by 74% of all newspaper-reading adults in
t{ie busy Chicago trading area. It is logically the newspaper
to use to
not
learn
your
will
advertise securities
and investment services.
Why
about how the Chicago Tribune can increase
rrwpre
business volume? Your Chicago Tribune representative
gladly give
you
offered by the company and 89,000 by stockhold¬
Price—By amendment. Business—Manufacture of
electronic, mechanical and components. Proceeds—Re¬
payment of loans, expansion and working capital. Office
to be
MARKET!
—6900 West Road
son
&
(Ebfimgo QTrilmnje
Mid America
s
womb's
most
omat»»t
mwiftris
widely circulated market table pages
-
SOLD
-
QUOTED
for Banks, Brokers, Institutions
Warwick, Inc., N. Y. Offering—Expected in Dec.
Albert Voigt Industries, Inc.
(11/20-24)
Aug. 29, 1961 filed 80,000 common. Price—$4. Business—
The manufacture of metal store fixtures, show cases and
related items. Proceeds—For repayment of
penses.
TMt
BOUGHT
84, Fort Lauderdale, Fla. Underwriters
Baltimore and Vickers, McPher-
—Stein Bros. & Boyce,
loans, work¬
a leasehold improvement and moving ex¬
Office—14-20 Dunham PI., Brooklyn, N. Y. Un¬
Sfidneii S$.
\
■'!
*
<
'■
i
<"
v.-
ing capital,
details.
Un-
derwriter—To be named.
Air Master Corp.
May >26,
aluminum
(11/1$)
common
manufacture
locating to and equipping
r
—
July 17, 1961 filed 100,000 class A
—$4.
v
Agency Tile Industries, Inc.
Sept. 27, 1961 filed 88,Q00 common. Price—$5. Business
—Purchase and sale of cheipicals and by-products. Pro¬
ceeds—For
4
derwriter—David Barnes & Co., Inc., N. Y.
C.
Al-Crete Corp.
Sept. 20, 1961 filed 127,000 class A common. Price—$3.
Business—Development and manufacture of a new vari¬
39
Dlgby 4-2370
c/nc.
Broadway, New York 6, N. Y,
Teletype No, N.Y. 1-5237
ri
Volume
194
Number 6106
The
Commercial and Financial Chronicle
Anchorage, Alaska. Underwriter—Paul Nichols Co., Inc.,
Anchorage, Alaska.
N. Y. Underwriter—Charles Plohn & Co., N. Y.
Business—The
,
For
•
•V.
investment.
Price
.May
1961
4,
ness
■
■
"v!-■>
(letter
of
notification)
75,000
shares
of
panels- for swimming pools and pumps, filters, ladders,
etc., yrpceeds-r-For building test pools; advertising, in-
kl
July
Mining Co. Ltd.
.
1961
31,
filed
400,000
shares.
common
Price—50
development and mining. Proceeds—For diamond drill¬
ing, construction, exploration and general corporate exOffice—80 Richmond St., W., Toronto. Under¬
writer—E. A. Manning, Ltd., Toronto.
/ penses.
("Reg. A") 50,000 class A common. Price;
Proceeds—General corporate purposes.
Office—
3333 Locust St., St. Louis. Underwriter—Scherck, Richter
Co., St. Louis.
'
—$5.
;
Book-Stratford
American
'
Oct.
27,
publishers.
Varick
Press, Inc.
Price—By amend¬
hard-bound
of
"
electronic
data
handling equipment,
man¬
range
repayment
of
loans
Pro¬
and
—
Astro-Science Corp.
27, 1961 filed 232,500 common, of which 150,000
to be offered by the
company and 82,500 by stock¬
holders, Price—By amendment. Business—Design and
,
manufacture of
ground systems and equipment for the
support and servicing of electronic systems, aircraft and
.Proceeds—Repay deht: and increase working
capital. Office—9449 W. Jefferson Blvd., Culver City,
missiles.
Calif.
Underwriter—W. C. Langley & Co., N. Y.
'
Atlantic
Capital Corp.
Aug. 29, 1961 filed 500.000
-
.
Price—$12.50. Busi¬
ness—A small business investment
company. Proceeds*For general corporate
purposes. Office—744 Broad St.,
Newark, N. J. Underwriter—Paine, Webber, Jackson &
Curtis, N. Y. C. Offering—Expected sometime in Jan,
common.
Atlantic Improvement
Corp. (11/27-12/1)
Aug. 30, 1961 filed 150,000 common. Price—By amend¬
ment. Business—The development of residential com¬
munities.
'
Proceeds—Repayment of
tion, general corporate
a
loan and construe-
Office—521 Fifth Ave.,
N. Y.
Underwriters—Bear, Stearns & Co., and Finkle &
Co., N. Y. (mgrs.).
Corp. of America
purposes.
• Atlanta Motor Lodges, Inc.
Oct. 30, 1961 filed 150,000 common.
Price—$10. Business
—Operation of motels. Proceeds
For expansion and
working capital. Office—120 North Ave., N. W., Atlanta,
Ga. Underwriter
The Robinson-Humphrey Co., Inc.,
Atlanta, Ga.
•,
—
service
/
general
Proceeds—For selling stockholders. Office
St., N. Y. Underwriter—Bear Stearns &
of
Sept.
Netherlands Securities Co.,
v; '■:'/" •/
/■; '•', />»•'•;. •• *
up sales
organizations, and for working capital and
corporate purposes. Office—660 Madison Ave.,
N. Y. Underwriter—J. J. Krieger & Co,, N. Y.
and
for
books
share for each Epsoo
one new
are
June 15, 1961 filed 100,000 common. Price—$5. Business
—Manufacture of amphibious automobiles. Proceeds—
To establish a parts depot in Newark, N. J., set
common.
Business—Manufacture
ment.
—75
filed 430,000
1961
Am phi car
the basis of
working capital.
240
E.
Palais Rd.,
Anaheim, Calif.
Under¬
writers—Granbery, Marache & Co., N. Y. C. and William
R. Staats &
Co^ Los Angeles.
Office
cluding $170,000 for construction and $12,000 for debt
reduction. Office—Equitable Building,
Baltimore, Md.
Underwriter—Karen Securities Corp., New York
City.
Note—This statement is expected to be refiled.
American Auto Stores, Inc.
Sept. 28,. 1961
on
Price—By amendment. Business—The
ceeds—For
Amity Corp.
Jan. 17, 1961 filed 88,739 shares of common stock (par
$1). Price—$3 per share. Business—-Land development,
including the building of an air strip/a marina, and a
/housing cooperative. This is the issuer's first public fi¬
nancing. Proceeds—For general corporate purposes, in¬
cents. Business—The company is engaged in exploration,
•
.
—
(11/20-24)
filed
timing devices and standard electronic products.
Cleveland at Passaic, Fort
—
Myers, Fla,/' Underwriter
Inc., N. Y. (mgr.).
'
1
t
Corp.
—
/working capital/ Office
ventory and working capital. Office—102 Mamaroneck
Ave., Mamaroneck, N.. Y. Underwriter—Vincent Asso¬
ciates, Ltd., 217 Broadway, N. Y.
j
Amerel
Machinery
American Variety Stores, Inc.
Aug. 30, 1961 filed 100,000 common. Price—$4.50. Busi¬
ness—The operation of retail discount
variety stores.
Proceeds — For repayment of loans, equipment, and
The
—
ufacture
Technical
Underwriter—M. L. Lee & Co., Inc., N. Y. C. (mgr.).
stock (par 10 cents). Price—$4 per share. Busi-/
sale of pre-cast and pre-stressed concrete
common
share held.
Proceeds—For equipment, repayment of loans and work¬
ing capital. Office—29-31 Elm Ave,, Mt. Vernon, N. Y
Address—Chicago.'Underwriter—None.
1961
Inc., parent,
Street, WaJtham,
By amendment. Business — The manufacture of
machinery for fabrication of twisted
wire
brushes.
Price—$11.25. Busi-'
Amcrete Corp.
Winter
(11/27-12/1) Aug. 29, 1961 filed 95,000 common, of which 65,000 are
to be offered by the"company and
30,000 by stockholders.
ness—A small business investment company. Proceeds—
.
American
Office—473
28,
31
825,000 shares of capital stock, of
which 200,000 will be offered for
public sale and 625,OQO
will be offered for subscription
by stockholders of Epsco,
Underwriter—None.
•
Co., Inc., N. Y.
:i Amcap Investment Inc.
;
'Oct. 2, 1961 filed 250,000 common.
,
expansion.
Mass.
„
Aug.
Pian, Inc.
200,000/common shares. Price—$6.
operation of bowling centers. Proceeds
—For
/Financing and lease of industrial and office equipment.
Proceeds—Repay debt and increase working capital. Of¬
fice—34
S. Stoneman Ave., Alhambra,
Calif.
Under¬
&
Astrodata, Inc.
American Sports
June 29, 1961 filed
Amacorp Industrial Leasing Co., Inc.
Sept. 27, 1961 filed $3,000,000 of 6y2% conv. subord. de¬
bentures due 1971.
Price—By amendment.
Business—
writer—McDonnell
2095)
—
,
Co., N. Y.
Anaconda
Real Estate Investment Trusty
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.
American Building Maintenance Industries
Oct.
'
Oct. 19, 1961 filed 141,000
are
to be offered
shares
capital shares, of which 30,000
by the company and 111,000
shares'-by stockholders. Price—By amendment. Business—Providing of building maintenance services. Pro¬
<
Sunrise Blvd., Fort
■Zi.
ceeds—For general
St.,
Rhoades
•
corporate purposes. Office—335 Fell
Underwriters—Carl
M.
Loeb,
Co., N. Y. and Sutro & Co.,. San Francisco.
&
•
Offering—Expected in late'December,
warrants
fered in
"
'
Oct.
("Reg.
19,^1961,
A") -75,000
common.
Busings^—Design, ^manufacture and
-
acetate
and
containers.
other
semi-rigid
of
sale
plastic
Price—$4.
;
cellulose-
transparent
Proceeds—For debt repayment and general
type
to purchase
the basis of
Price
corporate purposes. Office—27-01 Bridge Plaza N., Long
Island City, n. y. Underwriter—Diran, Norman & Co.,
"
inc., n.' y.
per
working
Data
(11/20-24)
Machines, Inc.
Aug. 17, 1961 filed
of
Oct.
data
processing equipment. Pro¬
ceeds—Repayment of loans, new products, advertising,
..working capital and general corporate purposes. Office
—7 Commercial'St., Hicksville, N. Y. Underwriter—Gol-
If
kin, Bomback
; •
•
•d
Americans/Electronic
26/ 1961
May
«■
stock
to
—To
filed
one
Y.
•
Laboratories,
for
shares of class A common
subscription by stockholders at
noses.
Underwriter
I
•
s
$500
pur-
,
!S
vj
"
!
•
-
6%
convertible
race, Oakland Park, Ft.
J. J. Bruno & Co., Inc.,
..
Aug.
1961
Bond St., Brooklyn, N. Y. Underwriter—None.
Arizona Color Film Processing
A
23, 1961 filed 2,100,500 shares of common stock
being offered for subscription by common stockholders
-
common
Ariz.
J]
?'
V
*
v
■i
:
American
Safety
(12/4-8>
rv
Equipment
.•;/
.4
Corporation
'
■
one
share
new
for
each
share
held
of
Mills.
Inc.
•
of
safety seat
belts.
aircraft
and missile valves. Proceeds—For engi¬
product development, inventories, advertising,
expansion and working capital. Office—17 W. 60th St.,
N. Y. Underwriter—Pearson, Murphy & Co., Inc., N. Y.
sure
neering,
Proceeds—Working
capital and repayment of loans. Office—525 Lexington
Ave., N. Y. Underwriter—General Economics Corp., N. Y.
•
Automata
Aug. 22,
1961
International, Inc.
(11/20-24)
("Reg.A"> 360,000
common.
Price
—
$1.
Proceeds—For tooling, equipment and working capital.
Office — 241 S. Robertson Blvd., Beverly Hills, Calif.
Underwriter—Pacific Coast Securities
Automated Gift Plan.
Co., San Fran.
Inc.
June
12, 1961 ("Reg. A") 100,000
Business—Manufacture and sale of
common.
Price—$3.
('Gift Bookards" de¬
signed to provide simplified gift giving for business and
industry. Proceeds — For advertising, sales promotion,
repayment of loans, working capital and the establish¬
ment of national
dealerships. Office—80 Park Ave., N. Y.
Underwriter—J. Laurence & Co., Inc., N. Y.
Automated Sports Centers, line.
June
28,
(11/20-24)
1961 filed
1,750 units, each consisting of one
$400 principal amount debenture (with attached war¬
rants) and 120 common. Price—$1,000 per unit. Business
—The operation of bowling centers. Proceeds—For re¬
payment of debt, acquisition of a warehouse and work¬
ing capital. Office — 11459 E. Imperial Hwy., Norfolk,
Calif, Underwriter—Holton, Henderson & Co., Los An¬
geles. Note—The company formerly was named Union
Leagues, Inc.
Automated Teaching Systems,
Sept. 18, 1961
("Reg. A")
Business—Manufacture
and
Inc.
30,000 common.
self-instructional
Price—$10.
materials
and
Office—1
St., N. Y. Underwriter—Arthur J. Rosenhauser
devices.
58th
W.
of
Proceeds—For
and
other
equipment,
corporate
research
purposes.
Corp.
("Reg. A") 60,000 common. Price—$2.50.
Business—Manufacture of automatic vending machines
loans
Long
and
working
Branch,
N.
side & Co., Inc.,
Associated
Aug.
•
25,
J.
Office—1030
Underwriter—Mortimer
Pearl
B.
St.,
Burn-
\
i
and
cat food,
Inc. (ii/27-12/1)
359,000 common, of which
•
175,000
cosmetics, drug items and toiletries. Pro¬
working capital, Of-
ceeds—For repayment of loans and
fiee—445
Proceeds—Inven-
Park
Ave„
N.
Y.
C.
Underwriters—Allen
&
Co., N. Y. C. and A. C. Allyn & Co., Chicago (co-mgrs.).
i,
t
•'
t
!:
and
r-'
1961
related
equipment. Office—1649 Vine St., Denver,
Underwriter—Schmidt, Sharp, McCabe & Co., Inc.,
Denver, Colo.
Products,
to be offered by the company and 184,000 by stockholders. Price—$17. Business—The manufacture of dog
--
Autrol
Sept. 13,
Colo.
N. Yr
filed
1961
capital.
are
tory, machinery, and research. Office—261 Madison Ave.,
Ausco, Inc.
12, 1961 filed 110,000 common. Price—$3. Business
—Design, development, and manufacture of high pres¬
of
■
-—Manufacture
Price—$3,50.
common.
of
Co., 95 Broad St., N. Y.
~
.
repayment
Oct.
development
/
Sept. 28, 1961 filed 135,000 class A common shares. Price
Business—The purchase, "conversion, decoration,
gift packaging and distribution of terrycloth towels and
cotton pillow cases. Proceeds—For inventory, repayment
Sept. 28, 1961 filed 80,000 common. Price—$10. Business
r<
For
loans, acquisition and
working capital. Office—715 N. Fayette St., Alexandria,
»Va. Underwriter—First Investment Planning Co., Wash*,
ington, D. C. Offering—Expected in late November.
—
—$5.
business. Proceeds—For repay¬
ment of debk sales and advertising, property improve¬
ments and possible acquisitions. Office—16 W. 61st St.,
N. Y. .-Underwriter—Troster, Singer & Co., N. Y.
.
of
Underwriter—None.
Artlin
and also the oil and gas
$■
basis
rights to expire Nov. 24, 1961. Price
—22 cents per share. Business—The processing of black
and white and color film. Proceeds—To repay loans and
for working capital. Office—2 North 30th Street,
Phoenix,
Realty & Petroleum Corp. (12/4-8)
Sept. 28, 1961 filed $2,000,000 of 6V2% cOnv. subord. de¬
bentures due 1971. Price—At par. Business—Real estate
-
the
on
record Oct. 25 with
American.
•
Laboratories, Inc.
March
Inc.
1,500,000/class
Lauderdale, Fla. Underwriter—
Pittsburgh.
—Repayment of loans, purchase of equipment, working
capital and general corporate purposes. Office — 285
—
"
Price—$3.50. Busi¬
common.
Renting Corp. (11/27-12/1)
Aug. 2, 1961 filed 100,000 common. Price—$5. Business—
Renting of trucks in the New York City area. Proceeds
shares.
Price
$1.15. Business—The manufacture of electronic
components! Proceeds—The purchase of equipment and
materials, operational expenses, working capital and rewriter— Naftaiin & Co., Inc., Minneapolis. Offering—Ex¬
pected in early January.
"
-/"■
2,
filed
Devices,
Proceeds
«
Arista Truck
per
Micro
Atmospheric Controls, Inc.
Aug. 22, 1961 ("Reg. A") 40,000
(11/15)
tory and working capital. Office—4425 N. E. Sixth Ter¬
sub-
and
American
Marble Co.
ness—The cutting, designing, polishing and installing of
marble products. Proceeds—For plant expansion, inven¬
V
Co., Inc.
$500,000 of
Busi¬
of
Aug. 28, 1961 filed 100,000
Suplee, Yeatman, Mosley Co., Inc., Phila.
filed
Co., Inc. and Parker Co., N. Y.
Architectural
Philadelphia.
unit/Business—The company and its subsidi-aries are primarily engaged in the automobile sale finance business/ One additional subsidiary is a Maryland
savings-and loan association and two are automobile
insurance brokers. Proceeds—For the retirement of de¬
bentures, and capital funds/ Office — 1472 Broadwav,
N. Y. Underwriter—Myron A, Lomasney & Co., N. Y.
Note—The SEC scheduled a hearing for Nov. 6 to deter¬
mine whether a "stop order" should be issued suspending this statement.
v
-/
:
fc
Street,
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—
stock,
-M
■
21, 1961
Seventh
ordinated debentures due 1971; 75,000 shares of common
■4'J
V
~
—
American Finance
April
'
,
:
North
Of fering—Imminent.
•
?•
equipment, and other corporate
new
Office—121
repay debt, purchase inven*
tory, and increase working capital. Office—774 Pfeiffer
Blvd., Perth Amboy, N. J. Underwriters—Hay, Fales &
Co. and McLaughlin, Kaufman & Co., N. Y.
service for the professional market.
&
thermoplastic compounds for
resale to other manufacturers. Proceeds—For equipment,
sales
and advertising
and working capital.
Office—
395 Smith St., Brooklyn, N. Y. Underwriter—Continental
Bond & Shares Corp., Maplewood, N. J.
be
construction,
Price—$2.10. Busi¬
parts and
components,
Authenticolor, Inc. (11/27-12/1)
Aug. 29, 1961 filed 148,200 common, of which 136,800 are
to be offered by the company and 11,400 by stockholders.
Price—$3.25. Business — Furnishing of photographic
ness—The manufacture
Price
-
.
1961
Apex Thermoplastics, Inc. (11/13-17)
Aug. 29, 1961 filed 150,000 common. Price—$2.40.
supplied by amendment. Business—The com'i pany is engaged in research and development in the! field
of electronic communication equipment. Proceeds—For
:
6,
common.
electronic
Parks
Inc.
share for each 10 shares held.
new
shares held.
of
Proceeds—To
payment and general corporate purposes. Office—181-14
Jamaica Ave., Jamaica, N. Y.* Underwriters—G. Everett
//■;/ ;/;/•.}/' /////;
10,632
offered
be
the rate of
I
& Co., N.
commc:.
Products, Inc.
("Reg. A") 100,000 common.
Price—$3.
Business—Fabrication, manufacture and assembly of
glass enclosures for bathtubs. Proceeds—For debt re¬
150,000 common. Price—$4.50. Busi¬
ness—Manufacture
.
100
unit. Proceeds — For expansion and
Office—1270 N.-W. 165th St., North
Arioroc
•
:Mr
common
capital.
Miami Beach, Fla. Underwriters—Ross, Lyon &
Co., Inc.,
and Globus, Inc., New York.
;/"'v-\v/
.
American
125,000,
unit for each
one
$100
—
"
equipment.
~
shares to be of6,259 unit^/'ehth consisting of $100 of debentures and warrants to purchase 20 shares. The units will
be offered for subscription by common stockholders on
,
Cellubox Corp.
American
Anodyne, Inc.
Sept. 28, 1961 filed 185,000
ness—Distribution
Lauderdale, Fla. Underwriter—None.
June 20, 1961 filed $625,000 of 5% convertible subordi¬
nated "debentures, 156,250 common shares reserved for
issuance on conversion of the debentures and 5-year
Francisco.
San
Atlas Electronics Inc.
.5
Aveeno
i
■
(11/27-12/1)
Price—By amend¬
ment. Business—Development and sale of pharmaceuti¬
cal products. Proceeds—For sales promotion, new prod¬
ucts and working capital. Office—250 W. 57th St., N. Y.
Underwriter—Laird & Company, Corp., N. Y.
Pharmaceuticals, Inc.
Sept. 27, 1961 filed 125,000
common.
Continued
on
page
32
-
32
The Commercial and Financial Chronicle
(2096)
Continued from page 31
(11/27-12/1)
Finance Corp.
Avenlco
15, 1961 filed 300,000 common shares. Price—By
amendment. Business—The retail financing of time sales
to consumers and the financing of dealer sales of aircraft
Aug.
equipment. Proceeds—For the repayment of
Colesville, Rd., Silver Spring, Md.
Underwriters—-Sterling, Grace & Co., New York and
Rouse, Brewer, Becker & Bryant, Inc., Washington, D. C.
and related
Office—8645
ctebt.
Enterprises, Inc.
1961 filed 150,000 capital shares. Price—By
amendment. Business—A holding company whose sub¬
sidiaries operate jewelry and photography departments
in discount department stores.
Proceeds—For debt re¬
payment and expansion.
Office—1328 Washington St.,
Oakland, Calif.
Underwriters—Kleiner, Bell & Co.,
Beverly Hills, Calif, and Rittmaster, Voisin & Co., N. Y.
BSF Company
June
$2,500,000 of 5% convertible sub¬
1966. Price—At par. Proceeds
repay debt and as a reserve for possible acquisi¬
Office—818 Market St., Wilmington, Del. Under¬
1961
30,
filed
ordinated debentures due
—to
tions.
writer—None.
Diagnostic Service, Inc.
Oct. 18, 1961 filed 2,u00,000 common.
Price—$1. Busi¬
ness—-Company will operate a medical examination
center. Proceeds—For a hotel acquisition and working
Harbour
Bal
Collins Ave., Bal Harbour, Fla.
Office—10101
capital.
Underwriter—J. R. Holt & Co., Denver.
^ Bankers Savings Holding Co., Inc.
Oct. 23, 1961 ("Reg. A") 120,000 common. Price—$2.50.
Business—A management investment company. Proceeds
—For creating a life insurance company or acquiring an
existing one. Address — Coeur d'Alene, Idaho.
Under¬
writer—None.
•
Barish
Sept.
A")
("Reg.
Price—$4.
capital.
Office-—224
N. Y. Underwriter—Gianis & Co., N. Y.
working
E.
Pro¬
38th
St.,
River Petroleum Corp.
Barren
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
Oct.
Business—Production, refining and marketing of
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.
unit.
oil
and
Barry
(R. G.)
Corp.
seat covers,
and other specialty items. Proceeds—To re¬
increase inventory and for other corporate
Office—78 E. Chestnut St., Columbus, Ohio.
Underwriter—Arnold Malkan & Co., N. Y.
pay
debt,
purposes.
(11/20-24)
Aug. 25, 1961 ("Reg. A") 150,000 class A common. Price
—$2. Proceeds—For packaging, advertising, repayment
of loans and working capital.
Office — 4621 Ponce de
Leon Blvd., Coral Gables, Fla.
Underwriter — Edward
Pharmaceuticals,
Barry-Martin
Inc.
Hindley & Co., N. Y. C.
Barton
Distilling Co. (11/27-12/1)
Oct. 5, 1961 filed 360,000 common.
Price—By amend¬
ment.
Business—Distilling of whiskey. Proceeds—For
selling stockholders. Office—134 N. La Salle St., Chi¬
cago.
Underwriters — Smith, Barney & Co., N. Y. and
Fulton, Reid & Co., Inc., Cleveland.
Bay State Electronics Corp.
Oct. 27, 1961 filed 160,000 common.
ment.
Price—By amend¬
and
products
of
New York.
Beau
Electronics, Inc.
Sept. 26, 1961 ("Reg. A") 3,000 common. Price—At-themarket. Business—The manufacture of special type elec¬
Proceeds—For
selling stockholder. Office
Waterbury, Conn. Underwriter—
—1060
Wolcott
Cooley
& Co., Hartford,
Rd.,
Bel-Aire Products,
Sept.
22,
1961
("Reg.
a
Conn.
Inc.
A") 75,000
Price—$4.
common.
writer—Ehrlich, Irwin & Co., Inc., N. Y.
Bell
Television, Inc. (11/20)
1961 ("Reg. A") 100,000
29,
common.
Price—$3.
ventory. Office—552 W. 53rd St., New York 19, N. Y.
Underwriter
Investment Planning Group, Inc., East
Orange, N. J.
—
Berkshire
♦
14,
1961
Distributors, Inc.
filed
100,000
,.
Common,
of
which
60,000
will be sold for the company and 40,000 for certain stock¬
holders. Price—By amendment. Business—The
operation
of
eight discount type department stores in four states.
Proceeds—For the repayment of
debt, and working cap¬
ital. Office—-203 Ann St.,
Hartford, Conn. Underwriter—
May & Gannon, Boston.
Price—$3.
common.
—Pacific Coast Securities Co., San Francisco.
for
Burton
(11/13-17)
granular materials.
bulk
handling
Proceeds — For
Detroit.
Business-—The
manufacture
of
educational
art
Of¬
Underwriter—Lee
Proceeds—For the selling stockholders.
Madison
Corp.,
Y.
Y.
N.
Ave.,
N.
C.
purposes.
Office
740
and other corporate purposes. Office—2147
Turnpike, New Hyde Park, N. Y. Underwriter—
Reiner, Linburn & Co., N. Y.
^ Busn Terminal Co.
Nov. 7, 1961 filed 92,320 common to be offered to stock¬
holders
on
a
l-for-10
basis.
Price—By amendment.
Business—Operation
of
warehouses,
manufacturing
buildings, piers and railroad facilities. Proceeds—For
working capital. Office—48 43rd St., Brooklyn, N. Y.
Binney & Smith, Inc. (11/27-12/1)
Sept. 8, 1961 filed 171,038 common. Price—By amend¬
ment.
Corp.
promotion
Jericho
•
materials.
Mount
Sept. 22, 1961 filed 100,000 common. Price—$6. Business
—Importation and distribution of copying machines and
supplies. Proceeds—Repayment of debt, inventory, sales
selling stockholders.
Office — 17190 Denver,
Underwriter—Smith, Hague & Co., Detroit.
(mgr.).
Underwriter—None.
^ Bio-Zyme Chemical Corp.
Business Growth Funding Corp.
Sept. 20, 1961 filed 100,000 common. Price—$4. Business
—Making of loans to small business concerns, purchase
of machinery for lease, and the providing of manage¬
ment counseling. Proceeds—For working capital. Office
—527 Lexington Ave., N. Y. Underwriter—Morton Klein
Oct.
25, 1961 ("Reg. A") 100,000 common. Price—At par
($2). Business—Production of enzymes, chemicals and
pharmaceuticals. Proceeds—For equipment and general
corporate purposes. Office—4250 South Produce Plaza,
Underwriter—First
Calif.
Vernon,
Citizen
Corp.,
Los
Angeles.
&
Bloch Brothers Tobacco Co.
Pharmaceutical
Co.
in 1954, is engaged in the research and development of
special material handling systems for industrial and
commercial use based on company-owned patents. Pro¬
ceeds—For
working capital. Office—Kirk Boulevard,
Inc.
Price—
Business—Compounds, manufactures and packages
private label drugs and vitamins. Proceeds—For an ac¬
18, 1961 ("Reg. A") 50,000 class A common.
Greenville, S. C. Underwritre—Capital Securities Corp.,
Greenville, S. C.
equipment.
Office—54 McKibben St.,
Underwriter—Natale, Miller & Co., Inc.,
Caldwell Publishing Corp.
Oct.
27, 1961. filed 137,500 capital shares.
Price—$5.
Business—Publishing of text books and general educa¬
New York.
Boone
Sept. 20,
(C. F.)
tional works. Proceeds—For general corporate purposes.
Office—339 W. 51st St., N. Y. Underwriter—S. B. Can¬
Nationwide Publications, Inc.
("Reg. A")
1961
Business—Publishes
100,000 common.
Price—$2.
directories
of
military personnel
tor
and Texas landowners.
Office—4007 Ave. "A," Lubbock,
Underwriter—G. K. Scott & Co., Inc., N. Y.
Texas.
•
Boro
Aug.
30,
Electronics, Inc.
1961 ("Reg. A")
(12/4-8)
100,000
Co., N. Y.
California
Real
Estate
Investors
(11/20-24)
Aug. 17, 1961 filed 1,000,000 shares of beneficial interest.
Price—$10. Business—Real estate investment. Office—
i
common.
capital stock. Price
—$1.15. Business—The company which began operations
$2.
quisition and
Brooklyn, N. Y
Carriers, Inc.
March 23, 1961 filed 196,109 shares of
derwriter—Fulton, Reid & Co., Inc., Cleveland.
Bolar
Co., Inc., N. Y.
Cable
July 3, 1961 ("Reg. A") 4,000 common shares (par $12.50).
Price—By amendment. Proceeds—For the selling stock¬
holders.
Office—4000 Water St., Wheeling, W. Va. Un¬
12014 Wilshire Blvd., Los Angeles. Underwriter—Harnack, Gardner & Co., (same address) (managing).
Price—$3.
Business-—The distribution of electronic
products manu¬
factured by others. Proceeds—For inventory, equipment,
Cambridge Fund of California, Inc.
Sept. 28, 1961 filed 280,000 common. Price—By amend¬
advertising, promotion, working capital and repayment
of loans. Office—69-18 Roosevelt Ave., Woodside, N. Y.
Underwriter—McLaughlin, Kaufman & Co., N. Y.
ment. Business—General real estate. Proceeds—Debt re¬
payment and working capital. Office—324 E. Bixby Rd.,
Long Beach, Calif. Underwriter—To be named.
A Bowey's, Inc.
•
30, 1961 filed 80,000 common, of which 40,000 are
to be offered by the company and 40,000 by a stock¬
holder. Price—By amendment. Business—Manufactures,
processes and supplies powders, syrups, flavorings, etc.,
to food industry. Proceeds—For repayment of debt and
working capital. Office—679 N. Orleans St., Chicago, 111.
Underwriter—Cruttenden, Podesta & Co., Chicago.
Camp Chemical Co., Inc. (11/21)
1961 filed 110,000 capital shares.
Aug. 25,
Price—$3.
Business—Manufacture of sanitation chemicals. Proceeds
Advertising, additional sales personnel, inventories and
accounts receivable. Office—Second Ave., and 13th St.,
Brooklyn. Underwriter—Russell & Saxe, Inc., N. Y.
Campbell-Lurie Plastics, Inc.
27, 1961 filed 574,250 common, of which 500,000 are
be offered by the company and 74,250 by a stock¬
Oct.
Bowling Internazionale, Ltd.
June 30, 1961 filed 200,000 common shares. Price—$5.
Proceeds—For the construction or acquisition of a chain
of bowling centers principally in Italy, and for expansion
and working capital. Office—80 Wall St., New York.
Underwriters—V, S. Wickett & Co., and Thomas, Wil¬
liam, & Lee, Inc., New York City.
to
holder.
Price—$2.50.
Business—Company is engaged in
a converter of raw
materials.
Proceeds—For
debt
repayment and working capital.
Office—5440 Highway Ave., Jacksonville, Fla.
Under¬
the
plastic
business
writer—Florida
•
as
Growth
Securities, Inc., Jacksonville.
Inc. (11/15)
July 31, 1961 filed 100,000 common shares and $1,000,-
Oct.
000 of
ment.
Business—Manufactures
—For
,
selling stockholders.
10% subordinated debentures due 1966 to be of¬
public sale and 108,365 common shares to be
subscription by stockholders of Brite Uni¬
versal, Inc. (N. Y.) parent company, on the basis of 2Vz
for
shares for each class A and class B shares held.
Business—The operation of
By amendment.
finance
business
in
Price—
a consumer
»
men's
wear
accessories.
St., Islip, N. Y. Underwriter—Albion
repayment of debt and other corporate purposes. Office
St., Champaign, 111. Underwriter—Kid¬
der, Peabody & Co., Inc., N. Y. •
1
Capitol Research Industries, Inc.
June
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¬
common
Proceeds—For
25,
dinners and
—
baked
beans.
for
ment of loans and working capital. Office—4206 Wheeler
Ave., Alexandria, Va. Underwriter—None.
(12/11-15)
common. Price-^-By amendManufacture of canned foods, frozen
1961 filed 187,250
Proceeds—For selling stock¬
are
—100 N. Market
moving expenses, repayment of
debt and working capital.
Office—171 Fabyan Place,
Newark. Underwriters—Lenchner, Covato & Co., Inc.,
Pittsburgh and Harry Odzer C6M N. Y. (cb-mgr.).
Oct.
Price—$5.50.
bowling centers. Proceeds—
common, of which
to be offered by the company and 66,000 by
stockholders. Price—By amendment.
Business^Manufacture, rental, and sale of graduation caps, gownl, choir
robes and related apparel.
Proceeds—Plant expansion,
125,500
Bundy Electronics Corp. (11/17)
Aug. 22, 1961 filed 100,000 common shares. Price—$4.
Business—The design, development and manufacture of
electronic components for space and earth communica¬
ment. Business
common shares to be offered
subscription by stockholders of American Bowling
Enterprises, Inc., parent company, on the basis of one
Cap & Gown Co. (12/4-8)
Sept. 21, 1961 filed 192,400 class A
common.
Price—$3.
Proceeds—For working capital.
Burnham & Morrill Co.
Ltd.-
N. Y. Underwriter—None.
•
•
Centers
For working capital and the construction and operation
of bowling centers. Office—100 Wilder Bldg., Rochester.
Proceeds
ic Building Ventures, Inc.
Oct. 27, 1961
("Reg. A") 100,000
Main
Price—By amend¬
ladies'
share for each four American shares held.
N. Y.
estate.
common.
Aqg. 4, 1961 filed 131,500
Business—The operation of
—Redemption of the 10% preferred stock, repayment
of a loan, expansion and working capital. Office—720
Fifth Ave., N. Y. Underwriter—A. J. Gabriel & Co., Inc.,
Business—Real
(12/11-15)
for
Bronzini, Ltd. (11/20-24)
Aug. 23, 1961 filed 125,000 common. Price—$6. Business
of
1961 filed 140,000
11,
Canbowl
7
N.
Y., N. J., and Pa. Office—441
Lexington Avenue, New York City. Underwriter—None.
Manufacture
Campus Casuals of California
apparel. Proceeds
Office—719 S. Los Angeles
St., Los Angeles, Calif. Underwriter—William R. Staats
& Co., Los Angeles.
fered for
tions.
Bernz (Otto) Co., Inc.
jOct, 16, 1961 filed 150,000 class. A shares, of which 100,000 are to be-offered by the company and
50,000 by
stockholders.
Price—By amendment. Business—Manu¬
facture of small propane-filled steel
cylinders, garden
.sprinklers and hose accessories. Proceeds—For debt re-
Walker & Co., Inc., N. Y.
Securities Co. Inc., N. Y.
Business —Manufacture of handbags and related items.
Proceeds—For debt repayment and working
capital. Of¬
fice—1621 S. San Pedro St., Los Angeles.
Underwriter
'payment and general corporate
Co.
—For repayment of debt and general corporate purposes.
Office—111 W. 19th St., N. Y. Underwriter—Rbdbtsky,
Aug. 25, 1961 filed 160,932 common. Price—By amend¬
ment. Business—Manufactures automatic control devices
Office—309
^ Berne of California, r Inc.
Oct. 27, 1961
("Reg. A") 85,000
Corp,
filed
Bin-Dicaior
offered
Business—The manufacture of television antenna, music
and sound equipment and closed circuit television sys¬
tems. Proceeds—For an acquisition, expansion and in¬
Sept.
1961
Brite Universal,
Business—Manufacture of aluminum pontoon boats. Of¬
fice—25970 W. Eight Mile Rd., Southfield, Mich. Under¬
Aug.
• Burros Corp.
'
Oct. 30, 1961 filed 70,000
common, of which 40,000 are
to be offered by the company and 30,000 by stockhold¬
ers. Price—By amendment. Business—Designs, manufac¬
tures, imports and distributes artificial flowers. Proceeds
Oct.
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.,
Business—Development
tric motors.
•
Oct.
Sept. 21, 1961 filed 100,000 common. Price—$5. Business
—Manufacture of slippers, robes, cushions, pillows, auto-
(William J.) International Detective
Agency, Inc. ,;';r
Aug. 22, 1961 filed 175,000 class A common shares. Price
—By amendments Proceeds—For the selling stockhold¬
ers.
Office—101 Park, Ave., New York. Underwriter—
Smith, Barney & Co., Inc., N. Y. Offering—Imminent.
will be sold by,the company
Higginson
(12/11-15)
50,000 common.
Business—Aeronautical research and development.
ceeds—For
26,
Water Si, Portland, Me. Underwrit¬
Weeks, N. Y.
:
125,000 common, of which 100,000
and 25,000 by stockholders.
Price—$3. Business—Manufacture of plastic novelties
and party favors. Proceeds—New plant and equipment
and working
capital. Office—945 39th St., Brooklyn,
N. Y. Underwriter—S. B. Cantor & Co., N. Y.
Sept.
fice—380
Associates, Inc.
1961
1,
Plastics
Thursday, November 9, 1961
Burns
27,
Best
.
er—Hornblower &
Besco
Oct.
.
holders. Office—45
Underwriter—Rey¬
Driving Park Ave,, Rochester, N. Y.
nolds & Co., Inc., N. Y.
..,;.;■
;
•
.
;
Captain's Corp.
11, 1961 ("Reg. A")
Oct.
65,000 common.-Price—$3.30.
Business—General real estate.
Proceeds—For debt
re-
Volume
194
Number 6106
.
.
The Commercial
.
^
and
Financial Chronicle
(2097)
'
33
r
Payment and general
corporate
Office—6945
purposes.
Nicollet
Ave., ■ Minneapolis.
Underwriters—Irving J.
Co., Inc., St. Paul; R. J. Steichen &
Co., Minne¬
apolis; Bardon Higgins & Co.,
Inc., Duluth, and C. D.
Mahoney & Co., Inc., Minneapolis.
Rice
&
Card
—
$5.
Proceeds
For
—
shares (no par).
common
research
and
development,
advertising equipment and working capital.
Office—923
,SnSan Fernando Boulevard,
.Burbank, Calif. Under¬
Rutner,, Jackson & Gray, Inc., Los Angeles.
Offering—Expected in early February. "
writer
Caribbean Cement
Co.,
selling stockholders. Office—Kingston,
Underwriter—Paribas Corp., N. Y.
18, 1961 filed 149,794 common,
will be sold by the company and 3,127
ordinary share.
Shares,
Price—By
amendment. Business—Manufacture of cement. Proceeds
tion
eral
13
Research,
(A.
AMT
&
Lewis
Co.
Becker
&
Inc.)
Co.)
Control
(J.
P.
Co
(Woodcock,
Eastern
160,932
(Bids
M.
Fricke
H.
Kureen
Electro-Miniatures
-
Corp.
(Burnham
Inc.)
Inc.)
70,000
FM-Stereo
Kureen
Guide,
Co.)
(A.
C.
Plus,
Co.)
Co.)
&
..
Securities
$300,000v--v
.
General
&
V
\ "V
Hallmark
(Braun,
Inc.
Co.,
;.
.
f
:
Irving J.
Monroe
and
ft
Gas
Films
&
Co.,
Continental
...Common
Haydon
&
Co.,
&
72,000
NAC
shares
Co.,
Inc.)
&
Co.)
&
Co.,
N.
Monmouth
Fuller
D.
Y.)
Capital
&
Pakco
Fricke
Moyer,
135,000
shares
French,
&
Inc.)
Regal
Higginson
Homes,
(J.
Reher
Simmons
Sons)
Research
Ace
Co.)
Hammill & Co.)
Growth
Securities
Sunronics
(Amos
&
Co.,
Technifoam
Co.)
Services
Transcontinental
Corp.)
Debentures
Kureen
Co.)
.(William ft.
Staats
Co.,
&
-h;
v.^.-(B,
Vol-Air,
?Wald
-
v"
Co.,
Common
'
&
Ross,
Inc.)
&
Co.
and
E.
&
Co.)
$325,000
(Merrill
&
Power
Lynch,
Light
Dickson
&
Co.,
&
Inc.)
Cole
150,000
J.
(Straus,
Columbian
and
R.
S.
(Dillon,
Read
&
(Currier
i
Inc.
Co.,
and
Ohio
Co.)
148,640
Bowling Corp.-—
&
Carlsen,
Inc.)
.
R.
-
(Merrill
Lynch.
Credit
Pierce,
&
Smith
Corp.——
(Lehman .Brothers
Fenner
Common
and Goldman, -Sachs
Inc.) 190,000
shares
Debentures
&*Co.-> $20,000,000
Inc.
to
&
&
Int.
.—Common
115,000
(Jones,
Beane)
Motti,
Units
Inc.)
--
Co.)
&
by.
Debentures
Hardy
I.
du
Industries,
Inc.)
Co.,
$350,000
Common
Corp.)
$187,500
Common
Towbin
Pont
Co.)
$1,491,780
...Common
Inc.—
Co.)
&
shares
150,000
O.
S.
S.
&
$400,000
Common
Share
&
$676,500
Corp.)
Common
Corp
Stationery
$400,000
Co.)
&
Industries,
O'Neill
(George,
Co.)
&
I., Inc
Bond
Electronics
Inc.)
Co.,
&
Common
Inc
$560,000
Common
Inc
Power,
Jackson
Webber,
Curtis)
&
Photo-Cine-Optics,
(William,
David
Units
Inc
Motti,
&
shares
200,000
Inc.)
$200,000
Common
Semicon, Inc.
-V".'
' ;
'
Sierra
(S.
Fuller
D.
Co.)
&
shares
125,000
Capital Co._
Co.
&
Towbin Co.)
Lee
and
Higginson
Southwestern Research &
Johnson
(Wilson,
Star
Units
Corp.)
8,280
Higgins)
&
—Common
$300,000
---Units
Liederman
Industries
Superior
(Brand,
Susan
Crane
Tasty
Baking
E.
Common
Corp
Grumet
Seigel,
&
Inc.)
$500,000
Co.)
Towbin
Common
150,000
shares
Common
Co
&
(D.'L.
Co.)
100,000
shares
.Common
Corp
Capas
Co.)
$300,000
Common
Corp
Rupe
United Exposition
Co.)
States
&
Inc.)
Son,
$1,000,000
Common
Service Co
(Drexel
United
$1,000,000
Packaging, Inc.—
Unterberg,
Taste
Inc.)
Co.,
&
Thermionix Industries
True
units
$6,000,000
Corp.)
Securities
Homes, Inc
E.
-
Development Co.—Com.
Space Age Materials Corp
(Manufacturers
,
-Capital
1,000,000 shares
& Utilities Corp
Realty
(Hirsch
•
—
(C. E. Unterberg,
Southern
shares
193,750
Common
(Lieberbaum
Rocket
& Co.)
Inc
(Continental
Rope
Common
and Balogh
Samitas
&
Crown
(Adams
Trans-Lux
Co.)
100,000
shares
-Common
Corp
&
$1,200,000
Peck)
—Common
Common
Corp.
(Bear,
$147,500
Valley Forge
Stearns
Corp.)
-
$243,000
&
Products,
Co.)
Anu—
,
-
v..
....
—
250,000
shares
Inc.-—
(Herzfeld & Stern)
$350,000
Common
Securities
Common
&
Inc
Co.
&
(Dean
Common
Inc
(Hancock
Capital
Industries,
(Dallas
Common
Co.)
$950,000
$352,000
Kemper & Co.)
(Candee
Common
$400,000
Co.)
Philadelphia
Kreeger
$400,000
-
Crossway Motor Hotels, Inc
Dynamic Tov,
Meeds)
&
Unterberg,
$1,000,000
Coyle's Voting Machine Co
A.
E.
Astro
(Jones,
Red
Corp.).
$850,000
Corp
(Drexel
—;——
Kreeger •&
(C.
>
(C.
Common
$5,052,700 '
Engineering Co/
Securities
;
Weeks)
&
&
Production
$500,000
stockholders-^-underwritten
■■
-Common
Underhill
and
Gilhart
D.
(First
Pictorial
shares
Vending Machine -Corp
v
$450,000
Co.)
-Debentures
Electronics
(D.
Vending Corp.—
David
Common
&
Photo-Animation, Inc.
$30,000
Inc.)
Co.)
&
-Common
Acceptance Corp
(Hardy
$10,000,000
Corp
Willis ton
(John
Macy
Ben.
Co.)
McDowell)
&
$300,000
Corp
$750,000
Inc.)
Peterson,
Frumkes
M.
•
Cooke
shares
$525,000
&
Co.)
Co._
Bailey
Demos,
Bissell
$300,000
Debentures
(William,
(Offering
Common
Longs Drug Stores. Inc.—.
Common
Inc
Investors
&
&
Inc
(A.
*
Inc.) $700,000
Lot, Inc
Instrument
Orbit
$300,000
Inc.)
Group,
Gardner
Bronze
Continental
shares
Atherton
Garey Co.,
Co.,
Empire,
$1,750,000
Co.)
&
Co.,
&
Estate
Columbus & Southern Ohio Electric Co...Common
Interstate
Co.)
&
Common
Gabriel
Blosser
(H.
Common
Inc.
Units
Inc,
(J.
Smith
$300,000
Vending Industries, Inc
Consolidated
Co
Pierce, .Fenner
&
(Hornblower
Old
shares
Commonwealth Theatres of Puerto Rico, Inc.-Com.
stilldwtwlw "14k (Tuesday)
Carolina
Co.)
Inc
(Kennedy
...Common
R;' Davenport
Co.)
Common
Real
Catamount,
$240,000
-Research,. Inc~~——
.(Martinelli
Hindley
(Harnack,
*;
Common
(Glass
625,000
Ltd.
$300,000
Inc.)
Lewis
A
\
1_—Cohnmon
Bioren & Co.; Boenning &
Winslow, Inc.; Draper, Sears &
Investment
Ehli,
~
5
shares1^
140,000
Co.)
Corp.;
Schirmer,
(Best &
(Paine,
Inc.)
Epsco,
Pharmaceuticals,
(A.
Inc.
.
:
&
&
Capital
of
Henderson
Television,
California
160,000 shares
Staats
—
(Investment Planning
—Common
Harris
G.
Bell
Bronzini,
$200,000
Vendotrbhics .:COrp.
.
Barry-Martin
Common
Inc.)
R.
Automated Sports Centers, Inc
$10,000,000
Union Rock & Materials Corp
*•;
&
Whiteside
Feed
Realtone
$675,000
Co.
stockholders
(Edward
-----
(Ezra
-
i
$300,000
Corp
Corp.)
Inc.
Inc.
to
scares
.—Common
Product Research of R.
;
Common
Co.)
and William
200,000 shares
&
Common
275,000
Corp.
North American
Common
shares
\ Automata International, Inc.————Common
$155,000
Investing
Higginson
$320,000
Capital
(Holton.
Common
Inc.)
Inc.)
150,000
&
units
——
Corp.)
$300,000
Preco
Machines, Inc
Bomback
50
Co.)
National Hospital Supply Co.—
Pioneer
$200,000
(Pacific Coast Securities
Common
(Globus,
„
(Offering
shares
$880,000
Corp
(International
Co.,
$718,750
Corp
Securities
Common
Co.)
Inc.)
Co.,
Securities
(Francis
Co.)
&
&
shares
Polytronic Research, Inc
Inc.
Astrodata,
Fred F.
90,000
Telecredit, Inc.
V
Fuller
Marache
(Granbery,
——-^Common
&
(Stearns
Trio-Tech,
Astrodata,
Common
and Bruno-Lenchner Inc.)
Mon-Dak
Common
Kureen
Barnes
D.
Data
American
A
$600,000
Corp.
(Lee
(S.
(Golkin,
Co., Inc.; Standard Securities Corp.;
Techno-Vending
/
shares
110,000
(Monday)
Common
Inc.
Boyce)
Industries, Inc
(David
shares
107,571
Corp.)
Corp
Treat &
Sessler
Common
Alpine Geophysical Associates, Inc
$900,000
Industries, Inc
(Capital
&
$400,000
___
$612,000
Class
(Shearson,
Eros.
(Ezra
Capital
&
Inc.)
Corp
Trophies
Albert Voigt
Inc
Kaufmann
.Common
Co.,
&
951,799
Common
&
Inc.)
Co.,
-Common
>
Inc
&
Atlantic
.V.-.
;
20
November
shares
100,000
&
Chace,
Middle
Orion
Corp..
Covato
Inc
(Stein
Common
Togs, Inc
Southern
Co.,
Capital
Hilliard
B.
&
$3,410,000
Inc
J.
(McLaughlin,
Russ
Corp.)
Stuart
(Friday)
Electronics
Common
Raymond Engineering Laboratory, Inc
(Lee
Co. of America—Debentures
and Halsey,
$15,000,000
17
(Lenchner,
shares
200,000
Co.)
Preferred
shares
100,000
263,750 shares
Hyde, Inc.--
(Wilson,
33,334 shares
Co.)
&
Inc.
Bundy
Common
Stearns
Co.,
&
Wards
Capital
Pavelle Corp.
(Bear,
Read
November
$2,000,000
&
Co.)
&
Read
Common
Common
(Estabrook
(Edward
Pipeline Co. of America
A
shares
$300,000
Corp.)
,
.Common
100,000
Corp
Co.)
Inc.)
Irwin
(Equitable
$25,000,000
Corp.
$1,000,000
-Class
Inc.)
Management
Bellows
Co.;
Debentures
Common
-Units
(Manufacturers
shares
Management & Development Co.
(Woodcock,
received)
Williston
R.
Co., Inc.) $300,000
&
(Laird,
Common
Co.)
be
Common
200,000
Co.)
&
to
&
Forgan
Micro-Precision
Bonds
Co.)
&
Co.,
&
(Burnham
-
Natural Gas Pipeline
(Dillon,
Corp.—
(Meade
Glore,
J.
—
Management
(Ehrlich,
(Thursday) T
(Sade
shares
400,000
Magazines for Industry, Inc
(S.
by
by
$1,890,700
Blauner
Enterprises,
Metal
shares
135,000
underwritten
Corp.
Common
co.)
&
-Debentures
Fund, Inc
Malone &
$300,000
stockholders—underwritten
(Dillon,
Lincoln Liberty Life Insurance Co
(Bache
Lincoln
Charge Plan and Northern
Natural Gas
Common
Nicolaus
Inc.)
Baking Co.—
Acceptance
$825,000
Co.
(Stifel,
Co.,
Inc
16
Common
Malkan
&
shares
Libby International Corp.
Capital
Mitchell
-Common
150,000
Knape & Vogt Manufacturing Co.Common
Lusk
shares
120,000
shares
50,000
$279,130
Corp
Inc.-
D.
Co.)
&
Simmons)
Beane)
Gruber
(Horizon
Lehman Brothers and
Co.)
J
Common
Co.)
Inc.)
Units
Bailey
stockholders
International
Lunar
$50,000,000
Smith,
Hygrade Packaging Corp
Eberstadt
(Offering to stockholders—underwritten by Wertheim & Co.,
Equitable Securities Corp.) $13,200,000
Inc.)
Kentucky Central Life & Accident
Insurance
to
(Bids
Kent Dry Cleaners, Inc
(Arnold
F.
by
Inc
&
to
&
Co
&
(Tau
Carolina Power & Light Co
Common
Securities
Coast
EST)
m.
Ellis
(Glore,
shares
$3,000,000
Corp
Demos,
$10,000,000
320,000
Ferman
Forgan
Inc.)
Ehli,
Industries
$1,000,000
..Common
$150,000
Co.)
Fenner
(J. B. McLean
Preferred
EST)
Hygiene
Co.;
Corp
(Pacific
underwriting )
&
International
shares
Debentures
Co
m.
a.
Co.,
(Offering
$675,000
Jayark
11
J.
"November
Rice
Harley,
108,365
—
a.
Hoffman
(P.
Common
Co.)
L.
(Francis
Y
Co., Inc
&-Co.
100,000 shares
Optical, Inc.
Tropical
Pierce,
Research
(Milton
Common
Fisheries,
$700,000
Insurance
11
Common
and
Co., Inc.) $350,000
Miami)
Corp.,
Kinetics, Inc
(Balogh
Penn
>,
!__h—Common
.
Guardian
and
shares
shares.
61,500
Forms,- Inc.Securities Co.
150,000
Corp.-——.^.Common
Hentz
&
i.
(Robert
Common
&
&
Common
Common
Lynch,
(Offering
Common
$250,000
Corp
Inc.)
34
page
Common
Inc.)
Co.,
Corp.
General
$400,000
stockholders—underwritten
Pan-Alaska
shares
450,000
Fram
(Blunt
Inc
(Bids
Common
Janis
W.
Discovery
(Wilson,
...Common
on
Firsf"National Realty & Construction Corp.__Debs.
Pacific Northwest Bell Telephone Co._-Debentures
$300,000
-
Hammill
(Allen
(Equity
Co.)
Development
Ceneral
Bruno
stockholders—no
to
to
(Offering
Common
&
Bonds
stockholders—no underwriting)
to
Electronics
$4,000,000
Co.—.,—
Emertron, Inc.
-Class A
Corp
Inc
(Shearson,
General
J.
(Bids
Inc
Allyn
Co
Inc.)
Continued
EMAC Data Processing Corp
(Merrill
$1,600,000
offered for
to be
common
.
(Globus,
Co.)
&
Co
Co.,
&
Dallas Power & Light
$260,000
Inc.
subscription t>y f pommon stockholder? and holders of
convertible securities at the jrate of one new share for
(Wednesday)
&
Financial
Hart
Universal, Inc
Offering
$300,000
(Valley Forge Securities Co., Inc.)
First Western
I
shares
Empire Precision Components, Inc
(Ezra
Brite
Common
Co.)
A.
'
noon. •
Sept. 27, 1961 filed 1,031,939
(H.
Common
Co.Nov.
St., N. Y. Bite
(M.
Universal, Inc
(Offering
$2,500,000
(jointly); W. C. Langley &
—Expected Nov. 16 at 12
$4,200,000
EST)
a.m.
Products
Universal,
Brite
Corp.—Common
Corp.
70,000 shares
and N.
(No underwriting)
$1,500,000
„
&
Bonds
Equip. Trust Ctfs.
Marble
(J.
Capital
Co.)
amend¬
Common
Power
11
15
Electronic
Brite
Securities
First Boston Corp. (jointly). Information Meeting:
10 (11 a.m. EST) in Room
240, 2 Rector
$15,000,000
received)
(11/16)
,
—
be
(Roth
Debens.
International, Ltd
(Ezra
Foods
Aero
table
Handschy Chemical
November
$258,750
Corp
French,
&
to
(Bids
Architectural
Bishop & Co.)
& French,
Fricke
Price—By
Corp
EST)
m.
Michigan
Common
Improvement
Moyer,
a.
Co
(Myron A. Lomasney & Co.
shares
Light Co.
Of¬
Raleigh, N. C. Underwriters-^(Competitive). Probable bidders: Kidder, Peabody &
Co.; Merrill Lynch, Pierce, Fenner & Smith Inc. (joint¬
ly); Halsey, Stuart & Co. Inc.; Lehman Brothers an<S
Blyth & Co., Inc. (jointly); Kuhn, Loeb ,& Co.-Equi-
Cary Chemicals,
shares
Improvement
Moyer,
(Woodcock,
and
Electric
11
&
Railway Co
Common
Inc.,
Properties
Electra
v;
Southern
Corp.) $330,000
Systems, Inc
Properties
&
Gas
(John)
Wisconsin
.
Penn & Co.,
Eastern
(11/14)
common.
Power &
Co., Inc., Charlotte, N. C.
Inc )
Common
(Smith, Hague & Co.)
Lease
Proceeds—Gen¬
women.
Light Co.
150,000
(Bids
$350,000
230,000
(Continental Bond & Share
Bin-Dictator
&
1961 filed
Rochester
—-Common
Co.,
Apex Thermoplastics, Inc._
;
Power
Common
G.
for
Taddeo Construction & Leasing Corp..
Corp.
(A.
shoes
purposes.; Office
(Hornblower & Weeks)
Edward
Inc
Gilhart
D.
11,
Dickson &
$500,000
Aerological
made
ment. Proceeds—Debt repayment and expansion. Office
—336 Fayetteville St., Raleigh, N. C. Underwriters—Mer¬
rill Lynch, Pierce, Fenner & Smith Inc., N. Y. and R. S.
Common
,/V
.
custom
corporate
Carolina
(Monday)
and
of
Sexton
Corp.
(Cambridge Securities, Inc.
146,667
—
253 S. W. 8th St.,
Miami, Fla. Underwriter—Robert L. Ferman & Co., Inc.,
Miami. Offering—Expected sometime in
January.
NEW ISSUE CALENDAR
November
which
of
Carolina
Oct. 11, 1961 filed $25,000,000 first
mortgage bonds.
fice—336 Fayetteville St.,
Caribbean Shoe Corp.
Oct.
Oct.
Ltd.
Oct. 18, 1961 filed
272,000 American Depositary
each share representing one
Aero-Dynamics
Jamaica.
by a stockholder.
Price—$6. Business—Design, manufacture and distribu¬
Key Systems, Inc.
July .28, 1961 ("Reg. A") 60,000
p"ce
—For
--Capital
120,000 shares
—Continued
on
page
34:.—
■:y,
■WW*****
34
The Commercial, and Financial Chronicle
(2098)
Continued
Catamount,
from page 33
each two held.
Price—By amendment. Business—Man¬
vinyl chloride polymer and copolymer resins,
polyvinyl chloride 'compounds, and polyvinyl chloride
sheeting and laminates and polyethylene film. Proceeds
—For expansion.
Office—Ryders Lane, E. Brunswick,
N. J.
Underwriters—Lee Higginson Corp., and P. W.
ufacture of
Brooks
&
Co., N. Y. (mgr.). Offering—Late November.
Casavan
1961 filed 350,000 capital shares. Price — $7.
Business—Production of plastics, marble and ceramics
for the packaging and building indsutries.
Proceeds—
For expansion, leasehold improvements, repayment of
other
and
Manufacture
corporate purposes.
Office—250
Vree-
land
Avh., Paterson, N. J. Underwriter—Foundation Se¬
curities, inc., N. Y. \ ....• p;. /■ _ w
•;
„
.
debentures
convertible subordi¬
warrants? to
attached
with
units (ot
warrant to purchase 5 shares)
for subscription by holders of class A and class B shares
at the rate of one unit for each 50 shares held. Price
-
Price—$5. Busi¬
common.
a
concrete for con-,
$250 per unit. Business—Production -of
Proceeds—For expansion, equipment
and working capital. Office—344 Duffy
Aye., Hicksville,
N. Y. Underwriter—Singer, Bean & Mackie, Inc., N. Y.
struction purposes.
Office—66-02 Austin St., Forest Hills, N. Y.
^
Co., Inc., N. Y.
Central American Mining & Oil, >lnc.
Challenger Products,
Oct. 30, 1961 filed 494,250 common. Price—$5. Business
—Exploration for oil, gas and other minerals. Proceeds
June
—For general corporate purposes.
Proceeds—For
Office—Edificio Banco
filed
1961
30,
the
Inc.
125,000
shares. Price—$5.
common
purchase of new
repayment of debt,
M-
Continued
li
Voiuxi
(John
from
War^how
(Lee
&
Inc. and Reuben Rose & Co.)
Higginson
Corp.
and
W.
Brooks
Co.,
&
Inc.)
Murray
Corp.)
21
Chemical
Camp
Ozone
$300,000
(Tuesday)
Pako
Co., Inc
(Russell
&
Inc.)
(Bids
11
EDT)
a.m.
(Russell
(White,
Valley
.
Weld
&
Inc.)
of
Co.
$350,000
California—Debens.
Witter
Dtan
and
&
Benind,
(White,
Weld
Common
Eastern
Realty
Transmission
November
Equities
Kulicke
&
i''
—Bonds
Soffa
(B;
November
Aero
-
27
Inc.)
Common
Harris
Co.,
Tri-Chem,
G.
Unterberg,
(P.
W.
Title
Universal
Brooks
Debentures
ka&k*r(Alessanarini & Co., Inc. and Hardy & Hardy)'$250,000
; All Star World Wide, Inc
1
Common
Alson
&
Co.,
Manufacturing
(Albion
;
American
Arista
Truck
(No
Co.
&
Inc.)
Co.,
Common
Data
A.C.
Co.
and
Allyn & Co.) $6,103,000
Common
Pinkie
&
Co.)
Inc.
150,000
shares
...Common
i
(General Economics Corp.) 148,200 6hares
:
;"! Aveeno Pharmaceuticals, Inc
(Laird
Avemco
;
V
(Sterling,
,
8c
Finance
Co.,
Bryant.
;
Barton
Distilling
(Smith,
,
Barney
shares
Common
Co.
&
and
Inc.)
Rouse,
200,000
Brewer,
shares
Becker
and
Pulton,
360,000 'shares
Reid
8c
Co.,
(Lee
Community
(Troster,
171,038
Co.)
(Pacific
Dale
Machines, Inc
Coast
Securities
&
(James
Executive
(Bear,
Co.)
Co., Inc.)
Fashion
t
Homes
(Globus.
Fashion
Inc.,
Ross,
(Bids
F-.
December
..Common
shares*"'01
300,000
Air
Master
y
-
"
Corp..
Co.,
&
(William
Interstate
Homes,
Blosser & McDowell
Dillon,
Common
Union
Co.,
&
Inc.)
Securities
Co.)
&
Services
Common
Corp.)
••
American Realty & Petroleum Corp.__.Debentures'
American
Safety
Co.)
&
Equipment
(Charles
*
•
Singer
Plohn
&
$800,000
(McLaughlin^
Gown
(Kidder,
.(Ira
Co.,
&
Inc.)
Peabody
&
&
&
Co.,
Inc.
Common
Mitchum,
Jones
(buplee,
Mosley
Yeatman,
.
&
Inc.)
(Lieberbaum 8c Co.
(Globus,
Floyd
Inc.,-and
Bennett
(Goodkind,
Ross,
Lyon
Jordon
I'
(Henry J.)
(N.
Growth
*"
Hanna
(M.
Hannett
December
14
(White,
Weld
December
'
North
Common
Inc.)
and Morris^Cohon & Co.) $3,000,000
<Siearns
&
Korfund,
L.
15
December
'
Fifth
Corp.)
740,000
Drug
Laboratory
&
Co.,
Inc.)
Co.,
Macoid
&
Co.,
Inc.)
6,000
Investment Co.)
Coast
Industries
M.
&
and
Witter
Co.,
Inc.)
Lee
&
Co.
Co.)
Hanly)
&
Eastern
Corp.)
Blauner
Bowling Lanes,
(Blylh
75,000
shares
&
(Edward
Inc.)
CO.,
Lewis
(Hodgdon
$500,000
Pfd.
Paramount
(Fialkov
Popular
•
,
&
Co.,
& Co.,
Inc;)
$1,387,500^
Common
Heller & Co.) 137,500 shares
Capital
Inc
(Sutro Brothers & Co.)
Gluckin
(Wm.)
127,500 shares
&
.
150,000
Corp.^
&
r
York
Common
Co.)
$300,000
March
5,
Inc.)
1982
to
be
1962
Co.,
Inc.)
"
...Common
$600,000
Ltd
^...Common
$1,750,000
(Tuesday)
Telephone
(Bids
»•.•■■->■
to
be
v
Co.—.Bonds
received)
$60,000,000
(Monday)
West Penn Power Co..
(Bids
Com.
shares
(Thursday)
Co.,
January 9,
New
Common
Industries
A
(Wednesday)
(Globus,
$500,000
Divine & Pishman, Inc.)
and Stanley
Library,
.
$825,000
—
and
Inc.
Inc.)
Inc.)
Sami'as
20
January 4, 1982
shares
Capital
$650,000
International
Co.,
(Armstrong
L**.——Common
^
Foam
Co.,
210,000
Capital
Inc.)
Rubber & Fibre Chemical Corp.j..
240,000 shares
Inc
&
&
(Dean
December
Common
(Globus, Inc.
Common
Inc.)
(Hirsrh
$600,000
& Co.)
t
$140,000
Inc
Uropa International, Inc.—
Units
and Milton D.
Inc )
Class
Scientific
$1,500,000
Inc.
Originala Inc.
$1,575,000
Bnjno-Lenchner,
&
Edwards
Orbit Industries, Inc
Middle Atlantic Telephone Co. of Illinois
(Dean
(M. L.
Common
$800,000
Co., Inc.-
Co.
and
National
$250,000
Struthers
'*.*
Corp
and
.Common
(Midland Securities Co., Inc.) 75,000 shares
"•••' *
$273,000
Co.)
Inc.
Inc
(Balogh & Co.,
shares
Class A
Recco, Inc.
Common
Metropolitan Telecommunications Corp.-.Common
Common
&
Co.
&
-(Manhattan
Corp
Kahn
Plohn
Finance
—Capital
Co.)
Co.)
&
Common
380,000
—
Affiliates,
....
$450,000
Inc
Policy-Matic
—.Common
Nalley's,
Securities
Heller
(Charles
Major
units
Common
Procedures,
Odzer
shares
Scidler
Industries, * Inc
Bonds
$2,250,000
S. Kasdan
Co.,
Planning Corp.) $500,000
(Globus.
:
—Common
(Flomenhaft,
60,000
V
Corp
(Monday)
Instruments,
■
120,000 shares '
Gas
Cards,/Inc.-C——-—__l__c.Capital
Dual
.
^
-
,
Corp.
$240,000
'
'
Co.)
&
(Friday)
Securities j Co.;
(General
-
Oceanic
Common
$700,000
underwriting)
(L. P. Rothschild & Co.)
Inc
$700,000
Blair
shares
Mercury Photo Corp.—
,
....
Lido
$300,000
shares
Common
Inc.)
Co.,
:
Common
Inc.)
Clayton Securities Corp.)
(Stanley
(Harry
Inc
Common
William
and
(Goldman, Sachs & Co. and Lehman Brothers)
$175,000
Inc.)
High Temperature Materials, Inc
—Units
Meehan-Tooker
Co.,
Inc.
s(Hardy & Co.) 115,000 shares
Co.
Kellwood
Corp. of America.-Common
Common
Arrin
and
(Bernard
1,250,000
Common
Co.,
shares
Corp.—_—e
(General Securities
Happy House,
(No
Louis Sherry Preserves, Inc
Marlene
Inc.)
Securities
Securities
shares
Inc
Co.,
Class A
——
and First Nebraska Securities Corp.
shares
v':;
Natural
18
Avenue
Common
150,000
Corp.)
shares
(Kidder, Peabody & Co.)
Capital
&
Components
shares
Inc.
(Pacific
r
Fleetwood
(Albion
Co.
Co.
Energy
Common
Securities
(Stevens
,■
50,000
Co.,
Becker
G.
Common
Mech-Tronics, Inc
(Street
TL;
Co.)
&
_____—Class B
Co.,
&
Carolina
v
shares
100,000
Communications, Inc
(Laird
^Common.
$10,000,000
(Thursday)
$170,000
Empire Fund, Inc
Inc.) $315,000
Securities
Boston
(Theodore
„
Co.)
(A.
Co—
(Albion
Jarrell-Ash
&
Common
Industries,
International
.
Richter
Instrument Co
Coast
A.)
Electronic
$1,000,000
Inc.)
and
shares
A. Hart & Co.,
(First
y
i
Inc.
Properties
(Pacific
r
y
Co.,
Common
Co.,
100.000
Green
&
Stores, Inc
Neufeld,
shares
(Tuesday)
150,040
75,000 shares
Co.,
>154,000
—
Science Research Associates, Inc..
—Class A
underwriting I
Corp.—-Com.
Inc.); $300,000
121,778
Creative Electronics, Inc
(No
12
(White, Weld & Co., Inc.
$750,000
Co.,
Co.,
Tip Top Products Co
Common
&
—
130,222
Common
Inc
Gruber
J.
:$1,500,000
Automation
Brothers)
Ltd.
$195,000
and
Co.)
&
&
Securities
(White, Weld & Co., Inc..and First Nebraska Securities Corp.)
shares
Inc
Inc.)
and
Corp.„.Common
Tip Top Products Co
shares
192,400
Co.) -192,400
Co.,
Yours,
Cosmetically
Fund
December
Communications, Inc
Liederman
E.
Haupt
Forge
.-Class A
Equipment Co.,
.^Common
Curtis
shares
110,000
(Burnham & Co.)
Common
Co
(Gianis
(D.
(Valley
Worldwide
$300,000
—
Peabody
(Kidder,
Childcraft
Kaufmann Co.)
Inc.)
Machines
Engineering
:Common
Co
—
&
$25,000,000
-
Electronics, Inc
&
Co.)
l__Common
'
.
Securities
(Lehman
^Common
Corp....
Co.)
&
Virginia Dare Stores Corp.—.__.Common
7 *'
c'":
$2,000,000
Diversified Small Business Investment Corp._Com.
—Units
1
Jackson
Webber,
Paine,
Inc.
Turner
$300,000
V.
Debentures
Inc.
Co.;
&
.
(International
■;* 1
Corp.J_-_..Units
Wegard & Co.). $550,000
C.
L.
and
Paint
Inc
Business
rSavin
Common
shares
140,000
Co;)
&
&
stockholders—underwritten by Glore, Forgan
H. M. Byllesby & Co., Inc.)
$2,550,000
Fund,
Medex,
shares
240,000
(Monday)
Agency Tile Industries, Inc.—
Co.)
$244,800
& Co.
(Globus,
4
Common
shares
and
(Bache
$7,905,000
Demarco Business Forms Inc
Inc.-
Japan
Equip. Trust Ctfs.EST)
noon
Staats
R.
Hosts,
to
Co.
Inc
(P.
units
Lyon
(Offering
(Wednesday)
187,250
Vv'eeks)
Chemical
(Armstrong
shares
Co.)" $200,000
Co.—-.—I-——
&
Casuals of California
Campus
:
shares
200,000
Co.)
..Common
&
Morrill
Consolidated
100.000
Common
&
Pont
Inc
(Hornbiower
;-
Common
Inc.)
(Monday)
du
(Gianis
&
Burnham
$30,000,000
11
';./
Corp
Associates,
' U"
q
/s._
•
Bonds
$25,000,000'
EST)
11-a.m.
,(Francis I.
Barish
Inc.)
-
.
of California
Telephone Co.
Nikko
(Eastman
Common
and
received)
Templeton)
Common
Inc
Homes
General
"'-v
Common
$325,000
Units
200,000
be
(Bids
Swift
Co.) $129,600
and Straus,
•
Corp.)
Common
and J. M. Dain & Co.,
shares
(Wednesday)
Common
shares
1,743,000
Pacific Co
Southern
Corrigan
$300,000
House, Inc
Stearns & Co.
i
to
Common
115,000
.Common
■&
'
&'Co;) 200,000 shares
«
(White, Weld & Co., Inc.
$300,000
shares
147,000
Co.)
&
Securities
Union
Valu Stores, Inc
Super
■
Becker
Dillon,
December 6
Corp.
.Common
Dero Research & Development Corp
u
Rantec
Common
Arrin
Co;)
(Tuesday).
Creative
Common
$300,000
A
shares
200,000
Corp.
(Eastman
(ohell Associates, Inc. and Godfrey, Hamilton & Taylor & Co.)
Cap & Gown
Systems, Inc..
(Theodore
Quartite
-•
units
36,000
(Cambridge Securities. Inc. and Stevens Hickey & Co.)
Business
(Bids
Units
&
/
units
Corp.—
&
Inc.)
Securities
»
$1,125,000
Corp.—
Co..
November 28
Cap
Continental Leasing Corp
Cromwell
,
...
-
shares
Plan
Singer
'
Pennsylvania PowerU$ght
—Common
Higginson Corp.)
Charge
Inc.)
__Class
Corp.)
(Tuesday)
......Capital
Henderson
&
(Standard
Boro
Binney & Smith, Inc.
.
•{>
8c
Common
Co.
3,500
5
G.
(A.
Sel-Rex
shares
Units
Inc.)
Processing
"(Troster,
Co
&
Co.,
Steamship
December
Common
125,000
Corp.)
Corp
Grace
$300,000
125,000
_
November 29
Common
$10,840,500
Inc
Higginson
December
Common
Co.)
underwriting)
(Blyth
'
:
.Common
_____—.—
Co.)
&
Citizens Life Insurance Co. of New York—Common
Common
$500,000
Corp
Steams
(Key),
(Lee
-
Scope Publishers, Inc.—
95,000 shares
underwriting)
...Capital
$300,000
Inc.)
Carlsen,
&
Capital
Windsor
$500,000
Machinery Corp
&
and
8c
Authenticolor
o-
$300,000
Improvement Corp
Stearns
(Bear,
Inc.)
Products, Inc
(Aden
Atlantic
Common
Co.,
Renting Corp
.
Associated
•
Lee
L.
Hardy & Hardy) $750,000
Co
Securities
Technical
(M.
o/.
Inc. and
.Common
$500,000
Co.)
&
Semiconductors,' inc..
(Bear,
^
.Common
$270,000
Co.)
&
Corp. of Delaware
(Currier
$285,000
'■7; All Star World Wide, Inc
(Alessandrini
&
Co..
(Shields
World
and J. Morris Anderson & Co.
Associates, Inc.)
Western
Westland
.Units
__
(Holton,
Common
'
•'
"
York
Inc.)
Towbin
Inc.—
Waterman
Fidelity Acceptance Corp
Michael McDarby & Co., Inc.
( i.
Homes
Common
Co
122,980 shares
(Monday)
shares
90,000
—-
Hart
A.
(Stearns
Common
&
E.
(No
Manufacturing Co
Sloss & Co.,
*
Inc
'
(Marion,
$700,000
100,000 shares
New
of
Communications
Union
(Friday)
Val-U
shares '
150,000
Inc
Inc.)
& Co.,
Corp.
Club,
(C.
Corp
CN.
shares
—Common
Curato
Sloss & Co.)
(Marron,
$1,675,800
Sav-Tax
Read & Co., Inc.) $3o,000,000
24
105,000
Higgins)
.Common
U. S. Controls, Inc
Common
Sloss
.Common
$900,000
Co.)
&
Sterling Extruder Corp
—Common
Weill)
&
&
$1,100,000
Beane)
&
(Lieberbaum
..Common
Jackson
Johnson
\vill.ston
R.
(Offering to stockholders—underwritten by Sutro Bros. & Co.)
(Wednesday)
(Dillon,
Webber,
(Marron,
Tower
Texas
(J.
$900,000
_
(Wiison,
194,000 shares
& Co.)
Inc.)
Potoma &
$5,500,000
Co.)
Gas Production, Inc
November 22
t
Co.,
&
& Photo Corp.— .Common
Quik-Chek Electronics
>
.'/'V. "V-
Corp._—£—T
Ragen Precision Industries,
Common
Saxe,
Corp.
&
Financial
$6,375,000
Corp.
*orK, Inc.-Bonds
$60,000,000
Family Circle Associates, Inc
Gibraltar
Co.)
Pulp Processes Corp
$330,000
New
Kellogg)
Royal Land & Development Corp.—
Inc.——
Products,
(Paine,
Capital
Saxe,
Consolidated Edison Co. of
Common
&
Leeds
topear,
and
&
Treat
(Amos
(Carter,
November
Co.
Haupt
Magnetics
Common
Securities
&
Municipal Investment Trust Fund, Pa. Series__Ints.
Ura
shares
Inc
(Standard
Podesta
$1,300,000
Class A
P.
285,000
(Cruttenden,
$300,000
& Sons, Inc
Wonderbowl,
Electric Co., Inc
Monmouth
Class A
Corp
Co.,
(H.)
33
page
Electronics
Josnua
"
Inc.
1976
due
$250 debenture and
one
v
of
Underwriter—General Securities
•
Industries,
Sept. 28, 1961 filed $750,000 of 6%
nated
specialized raidos and phono¬
Proceeds—New products, equipment and work¬
ing capital.
J;■
...
purchase 15,000 class A shares to be offered in
1961 ("Reg. A")60,000
—
graphs.
Aug. 21,
loans
Oct. 27,
■;
Certified
Kennedy & Peterson, Inc.,
—
it Cavalier Radio & Electronics Corp.
ness
Industries, Inc.
None.
Aug. 23, 1961 ("Reg. A") $30,000 of debentures due Sept.
1, 1976, to be offered in units Of $500. Price — At par.
Proceeds—For operation of a ski resort. Address—Egremont, Mass. Underwriter
Hartford, Conn.
Underwriter
Atlantida, Tegucigalpa, D. C.,* Honduras.
(11/20-24)
Inc.
Thursday, November 9, 1961
...
Bonds
received?-$25,000,000
//Volume 194
Number 6106
.
.
.
The Commercial and Financial Chronicle
equipment, and working capital. Office—2934 Smallman
St., Pittsburgh, Pa. Underwriter—To be -named^ ;
Computron Corp.
Sept. 15,1961 /filed 500,000 common. Price—^$1.15. Busi¬
ness—Research, development, design 'and production <of
electronic automation devices. Proceeds—For
equipment,
Chandler Leasing Corp.
Sept. 26, 1961 filed il43$00
ment.
common.
Business—Leasing of
the purchase of20 class A
Price—JBy amend¬
equipment.
research.and development and working capital. Office—
9330
James Ave.,
South, Minneapolis. Underwriter—
Proceeds—For
Shares from
common
direc-;
a
Brandtjen •& Bayiiss, Inc., St. Paul, Minn.
tpr, and working capital. Office—17
Dunster St., 'Cam¬
bridge, Mass. Underwriter—G. H. "Walker & Co., N. Y.
Chester
Electronic
ment.
Concors Supply
common.
Price—-By amend¬
Proceeds
equipment, debt repayment, new products and working
capital. Address—'Chester, Conn. Underwriter—Putnam
•
20,
1961
Proceeds—For
Church
Builders, /irrc.
hold
investment/ ' Off ice—501
Bailey Ave., Fort Worth, Tex.
Distributor—Associates Management, Inc., Fort Worth.
'Office—619 *W. 54th
PriGe—$3.
common.
vertible
debentures due 1968 and
offered in units consisting of
$100
St., .N. Y.
Cineque Colorfilm Laboratories, Jnc.
("Reg. A") 120,000 common. Price—$2.50;
Business—The production of slides and color film
strips.
Proceeds—For equipment, sales promotion and advertis¬
ing. Office—424 E. 89th St., N. Y. Underwriter—Paul
?
; :
ing
Life
Ins.
Co.-of New York
&
,
ties.
&-Co., N. Y. (mgr.).
Clute
(Francis H.)
,July 3,1961'filed 1,000,0UO
Business
—
The
;
& Son, Inc.
common
manufacture
of
/
■
equipments Proceeds—For materials and inventory,' re¬
and development and working capital. Office—
1303 Elm St.,' Rocky-Fordj Colo
Underwriter — Stone,
Altman & Co., Inc., Denver.-Offering—In 'late Decem¬
ber or early January.'
•
search
Colby
:
'
Business—The
manufacture
Office—^216
N. ..Main
writer— H. M. Frumkes
•
& Co.,
Oct;
10,. 1961 filed
148,640 common.
ferred.
$25
/.
(11/14)
of
Price—By amend-
Puerto
Rico,
Inc.
•"
July 28, 19661 filed 100,000
common, of which 50,000 are
by the company and 50;000 by stockhold¬
Price—SI0. Business—Operation of a chain Of the¬
be
ers.
atres
offered
in 'Puerto >Rico.
/
'
•
Consumers
shares for each 5
Mobilife shares held of record Nov.
3
Proceeds—Tor
construction
of
a
Tights-to expire Nov. 24, 1961. Price-^$1. Business
—-Acquisition, construction and operation'Of water-treat¬
and
ment
Florida.
life 'Corp.).
tures
tures
shares
(with attached 'warrants to .purchase
shares) and 216,000 common, to be of¬
fered in units/consisting of a $100 debenture land a
warranto purchase two.shares) and-six common.shares.
Price—By/amendment.7Business—The purchase at a
discount from merchant-members,- their accounts receiv¬
sewage-disposal
Proceeds—For
Community Charge Plan (11/27-12/1)
Sept. 22,1961 filed $3,600-000 of'6% subordinated deben¬
able
Utilities
Corp.
July 27,31961 filed 302,000 common being offered for sub¬
scription by-stockholders of Mobilife Corp., of Bradenton, Fla., 'parent -company, on the basis of 3 Consumers
Oct.
1976
200,000 shares of 5V2% pre¬
$100 per unit; (preferred)
purposes. Office—3315 N. Oak TrafficKansas City, Mo. Underwriter—None.
*
Underwriter—J. R. Williston & Beane. N. Y.
common
sub. certificates of
other ^corporate
Bombaek
due
and
Price—(Certificates)
drive-in movie theatre./buildingirenovations and general
corporate ?purposes." Address—Santurce,
Puerto
Rico.
,772,000
due 1986
with
(11/20-24) to
re¬
per
way,
Proceeds—For debt repayment. 'Office—215 N.
Front St., .Columbus, Ohio. Underwriters—Dillon, Read
& Co., Inc., N. Y. and The Ohio Uo.,
Columbus, 'Ohio.
Theatres
debt
supplies/Proceeds—'For debt repayment, expansion, and
ment.
Commonwealth
Proceeds—For
$4.
share. Business — Manufacture and distribution
of -petroleum products, fertilizer, feed and other farm
"
/
company.
1, 1961 filed $8,000,000 of dV2%
indebtedness
Under¬
N. Y.
Columbus & Southern Ohio Electric Co.
finance
—
/•//
Price—$5
propellers and
St., Fr.eeport, N. Y.
•
Baking Co.
1961 Tiled
due
holders
1983
on
plants in suburban areas of
selling stockholder (Mobi¬
Office—Sarasota, Tla. Underwriter—Golkin,
'.Co., N. Y.
&
Continental
10,
the
to
be
the basis
conv.
deben¬
offered for subscription
of
by stock¬
$100 of debentures for each *15
held.
Price—By amendment. Business—Baking
of-bread, cakes and (related products. Pro¬
ceeds—For debt repayment and ^construction. Address—
P. O. Box 731, Rye, N. Y. Underwriters—Wertheim &
and
selling
Co., Lehman
N.
Brothers and
Equitable
Securities
Corp.,
Y.
•
Underwriter—Brandtjen & -Bayiiss,
Control
Inc., St. -Paul."
Lease
Systems, !nc. (111/13-17)
("Reg. A") 225,000 common. Price—$1.15*,
July 21, 1961
Proceeds—For equipment, research and
development and
Capital expenditures. Office—-3386 Brownlow Ave., St.Loiiis Park, Minn. Underwriters—M./.H. Bishop & Co.,Louis Park, Minn. Underwriters—J. P. Penn &
Co., Inc.>
and M. H. Bishop & Co., Minneapolis.
Ccoke Engineering Co.
Cll/20-24)
Sept. 12, 1961 /filed'32,000 common. "Price—$11. Business
—The
manufacture
nishing
of
electronic products
and the fur¬
of
engineering services. Proceeds—For equip¬
ment, new products, sales promotion and working cap¬
ital. "Office—735 N. "St. Asaph St., Alexandria, 'Va. Un¬
derwriter—Jones, Kreeger & Co., Washington, D. C.
iic Coronet Products Co.
31,
1961
A'*)
("Reg.
62,500
Price—$4.
common.
storm
windows and
Proceeds—For equipment, inventory and work¬
ing capital. ';Office—2440 Charlotte St., Kansas City, Mo.
Underwriter—George K. Baum & Co., 'Kansas :City, Mo.
Corrigan Communications, Inc. (12/4-8)
Sept. 28, 1961 filed 375,000 common. Price—$2. Business
—Development and sale * Of Tutorial electronics com¬
munications
systems for
use
in individual class
rooms.
Proceeds—To repay
loans, purchase machinery, and in¬
crease working capital. Office—1111 E. Ash
Ave., Fullerton, Calif. Underwriter—D./E. Liederman & Co., Inc.,
fU.'Y.
and
Mitchum, Jones & -Templeton, Los Angeles.
•
Cosmetically Yours, Inc. (12/4-8) }>. /
,Aug. 23, 1961 filed 42,500 common.4Price—$4. "Business
—The
manufacture
Of
ment
cosmetics.
of
Proceeds—Eor
repay¬
loan, advertising,fequipment, inventory, re¬
search and development and working capital. Office—
15 Clinton St., Yonkers, N. YJUnderwriter—P. J. Gruber
& Co., Inc., N. Y.
a
Cosnat Record Distributing Corp.
May 26, 1961 filed 150,000 shares of < common stock,-of
which 105,556 shares are To 3 be offered for public sale by
the company?and 44,444 outstanding shares by The pres¬
holders
ent
thereof.
Price—To
Business—The
i
be
manufacture
nhonograph records.
supplied
by amend¬
distribution
and
Underwriter—Amos
Proceed«^For
Treat
of
&
the
Co., N. Y. Offering—Ex¬
;
'
* /
Coyle's Voting Machine Co. (11/20-24)
Aug. 31, 1961 ("Reg. A") 10,000 common. Price—$14.75.:
,.
,
High St., Hamilton, O.
Lima, O.
Underwriter—John?
A. Kemper & Co.,
Cramer
Electronics, !nc.
.•
27, 1961 filed 150,000 common shares, of which
107^50 shares are To be offered by the company and
42,750 shares by the Stockholders. Price—By amendment.
July
Business—The distribution of electronic components and
equipment. Proceeds—For repayment of loans, inventory
and working capital.
Office—811 Boylston St., Boston.
Underwriter—Carl M. Loeb. Rhoades &
Co., N. Y. (mgr.)
Creative
Electronics, Inc. (12/4-8)
Aug. 29, 1961 filed 75,000 class A. Price
ment.
—
By amend¬
Business—The manufacture Of audio reproduction
devices, associated products and electrical transformers.
Proceeds
'For
expansion, inventory, working /capital
S/MichiAve., Chicago. Underwriter—None.
—
■
and general corporate'purposes. -Office—4008
gan
• Crowmell Business
Machines, Inc. (1127-12/1)
Aug. 1, 1961 ("Reg. A") 100,000 common shares (par 50
cents).
Price—$3.
Proceeds-4For repayment of loans,
machinery, leasehold improvements,
advertising and
working capital. Office—7451 Coldwater Canyon Ave¬
nue,
North Hollywood/Calif. Underwriter—Pacific Coast
Securities Co., San Francisco.
%rCrossway Motor Hotels, Inc. (11/20-24)
,Aug. 4, 1961 filed 70,000 common shares. Price—$5. Busi¬
of
a
motor hotel chain. Proceeds—
acquisition, expansion and the repayment of debt.
Office—54 Tarrytown Rd., White Plains, N. Y.
Under¬
writer—Candee & Co., New York.
;Cryplex Industries, Inc.
bet. 10, 1961 filed 80,000 common. Price—$3.75. Busi¬
ness
Manufactures plastic jewelry, dress accessories
,
—
^nd
ing
novelties. Proceeds—For product development, mov¬
expenses
and working capital. Office—37 E. 18th St.,
N. Y. Underwriter—Herbert Young &
Crystal Mountain, Inc.
•
capital. Office—10 Banta Place, Hackensack,
N.7J. Underwriter—Troster, Singer & Co., Nr Y.
Proceeds—For purchase of new automobiles, advertising
and promotion, and working capital. 'Office—4 Gateway
lis.
For
of subord.
bv these members. Proceeds—To repaw debt and increase
working
^
24, 1961 filed 500,000 common. Price—$1.15/Busi¬
ness—Development and production of electronic Testing
devices. Proeeedi — For expansion and
working capital/Oifice—s-9340 James Ave., S., Minneapo¬
ness—The operation
(11/16)
$13,-200,000
Con+inen*a! Leasing Corp. (11/27-12/1)
June 19, 1961 ("Reg. A") 75,000 common.
Price
arising from customers who hold credit cards issued
;
f,
and. Training
Office—830
•„
Price
ic Consumers Cooperative Association
Nov.
electronic equipment,(hydraulic products and metal fur¬
niture. (Proceeds—*For repayment of loans and expan¬
sion.
Y;
Business—The sale of punch card type voting machines.
expansion and working capital. Office—3000
Highway, Fort Lauderdale, Fla Underwriter—
Ellis Securities, Inc., 134 Middle Neck
'Rd., Great Neck,
N. Y. '
;:7..;/;.•
snares.
marine
of
& Motti, Inc., N. Y. C.
Federal
(11/20-24)
common
N.
pected in late November.
payment,
toys, play pools, Toy boats and (houses,
and games. Proceeds—For plant expansion and
working
capital. Office—75-77 Windsor St., Hartford, Conn. Un¬
derwriter—Cooley. & Go., Hartford, Conn.
150,000
Co.,
Dynamics, Inc.
repayment -of
debt, and working capital. Office—315 W. 47th St., N. Y.
Business—A
factures .plastic
filed
Of¬
Oct.
ment.
20-24)
ic Consumer Finance Corp. of America
Oct. 30,'1961 ("Reg. A") 75,000 common.
26, 1961 Tiled 120,600 common, of which 12,000
will be offered by the company and 108,000 by
stockholders.
Price—By -amendment. Business—Manu¬
shares
13, 1961
ConsolccTated Vending Corp. \( 11
Underwriter—William,/David
Sept.
July
Corp.
'*
—
St., Chciago. Underwriter—Straus, Blos& McDowell, Chicago :(mgr.).
Columbian Bronze Corp.
7.
capital.
Westbury, L. T., N. Y....
unit/Business—The operation of vending machines. Pro¬
ceeds
For repayment of loans, new equipment and
working capital. Office — 129 S. State St., "Dover,'Del.
W. "Lake
,
:;
Control
^eoeriture®
Price—By ^amendment.
manufacturing of vending machines. Pro¬
Aug. 29, 1961 filed $150,000 of 6% debentures due 1971
and 50,000 common to be offered in units each
.consisting
of $150 of debentures and 50 common.
Price—$400 per
Vending Industries, Inc. '(11/20-24)
Aug. 28, 1961 filed 115,000 common. "Price—By amend¬
ment. Business—The manufacture, sale and servicing of
vending machines. Proceeds—For working capital. Office
Industries, Inc.
Cador Production
-
,
Offering—Expected in Jan.
Cole
Coleco
named
was
Supply Co.
("Reg/ A") 25,000,preferred. .Price—At par
($25). Business—Sale of ^products used in .dairies. Pro¬
ceeds^—For debt repayment. "Office—1900 W. Slauson
Ave., Los Angeles. Underwriter—None.
stockholders. Price—$10. Business—Manufac¬
apparel. Proceeds—For general corpo¬
rate purposes.
Office—T13 Fourth Ave., N. Y.
Under¬
ser
formerly
Oct. 26, 1961
of Women's
—560
buys and manages fractional
producing oil and gas properties. Proceeds
—For investment, and working capital. Office—14 North
Robinson, Oklahoma City, Okia. Underwriter—-Shearson,
Hammill & Co., New York City (managing). Note-^This
in
• Consolidated
50,000
55,000
shares by
writer—Meade & Co., N. Y.
$15. Business—Company
company
(Jane), Inc.
.Oct/ 19, '1961 Tiled '105,000 common, .of :which
shares are .'to- be offered by the company and
ture
Probable "bidders:
Offering—Temporarily 'postponed.
Business—The
basis of $100 of
shares held.
doors.
;■/
;•
Boston
interests
industrial
common
(11/20-24)
convertible suoor-fr
Business—Manufacture of aluminum
Corp.; Halsey, Stuart & Co. Inc.; Morgan
Stanley & Go. Bids—Nov. 21,1961 at J11 a.m. (EST). In¬
formation Meeting—Nov.
15'(10 a.m. EST) at the company's office.
7—
shares/Price—$1.50.
and
Underwriters—(Competitive).
<
1976,' to be offered for subscrip¬
tion by stockholders on the
for each 80
Qct.
/
Consolidated Production Corp.
May 26, 1961 filed 125,000. shares of common stock. Price
-/.
farm
Y.
First
.
.
'
Consolidated Edison Co. of New York, Inc.
Til/21)
'
N.
insurance.
V
Go,, Trenton, N. J.
20, -1961 filed $60,000,000 of .first and refunding
mortgage Tionds due Nov. 1, 1991. Office—4 Irving PL,
producing securi¬
Underwriter—A.^G.
Office—33 Maiden/Lane, N. Y.
Becker
,/
life
6%
Oct.
Sept. 8, 1961 filed 147,000 common, of which IOU',000 will
be sold by the company and
47(000 by a -stockholder.'
Price—By amendment.
Business—The writing - of or¬
group life and group-credit
Proceeds—For investment -in income
be
debentures, repayment 'of *tiebt and wonting
Office—456 Driggs Ave., Brooklyn, N. Y. Un¬
derwriters—Armstrong & Co., N. Y., and L.vC. Wegard
(12/5)
dinary life,
to
capital.
/
Citizens
common
of ^debentures and 25
common.
Aug. 29, 1961
'
68,750
Price—$200 per unit. "Business—The company
manufactures from oil, chemicals .and
(pigments, diverse
basic paint " lines. Proceeds—For retirement of outstand¬
Underwriter-
Security Options Corp., N. Y.
Eisenberg Co., N. Y;
7
•
Business—Production d'f motion pictures. Proceeds—-Repayment Of loans, purchase of equipment and working
Capital.
<
Consolidated Chemical & Paint Corp.
(12/11-15)
Aug. 29, 1961 filed $275,000 of 6Y2^% subordinated con¬
Cinema
'Syndicate, 'Inc.
1961 ("Reg. A") 100,000.
!
common.
Price—By amend¬
ment, Business—Operation of
bowling centers. Proceeds/
—JTor expansion and working capital. "Office—880 Mil¬
itary Rd., Niagara Falls, N. Y. Underwriter—/Dooiiitle
& Co., Buffalo, N. Y.
/ / ;
;
r
Proceeds—For
company.
Bowling Corp.'/"'/' 7"
■«
Vending Machine Corp.
1961 filed $5,0o2T00 of 6%
dinated debentures tiue
house¬
„
Consolidated
management investment
cosmetics,
debt repayment,
Sept. 28, 1961 filed 200,000
Continental
Aug. 11,
Price—$3n/ Underwriter—Hardy
common.
packages
industrial
products. Proceeds
equipment and wofking capital.*
Sylvesten'St., Westbury, N. Y. Underwriter
—J7E. Bayard & Co., Inc., 80 Wall St., New York
City.
;
Continental -Real Estate Investment Trust
Aug. 3, <1961 filed 306,000 shares of beneficial 'interest.
Price—$10. Business—Real estate. Proeeeds—For 'invest¬
ment/Office—530 St. Paul Place, Baltimore. Underwriter'
—R. BaruCh & Co., Inc.,
Washington, D./C. (mgr.).
ceeds—For repayment of loans and
wonting
fice—956 Brush Hollow Road,
'
Office—107
1961 filed 50,000 Shares of common stock, series
2. Price—$5.30:per share. Business—A closed-end
diver¬
(Sept. "6,
pharmaceutical and
—For
Feb. 6,
sified
Corp.
70,000
29, 1961 ("Reg./A")
Business—Compounds and
nursery -sdhool/ ageOffice—>155
E.
23rd
capital.
Underwriter—Gianis & Co., Inc., N. Y.
St., N. Y.
-
working
Aerosol
Sept.
("Reg.
equipment .for Children-of
For
—
Consolidated
'Offering—Expected in December.4-
A'') 65,000 common.
Price—^$3.
Business—Design, development and marketing ;of edu¬
cational
equipment.
Expected !in late January.;
ChildcraTt Equipment Co., Jnc. -(12/4-8)
Oct.
kitchen
35
Center, Pittsburgh, Pa. Underwriters—Cambridge Secu¬
rities, inc., and Stevens, Hickey & Co./N. Y.
a
Price—$4.
common.
equipment, debt repayment and other
corporate purposes. Office—110 "A" St., Wilmington, Del.
Underwriter—Toth & Co., Inc., Philadelphia. Offering—
Business—Manufacture /of
electronic
teaching
Proceeds—For acquisition of a plant and
equipment..
& Co., Hartford,
•
Co., Inc.
Oct. 19, 1961 filed 100,000 class A
Business—SsUe of food service/and
Laboratories, Inc.
Sept. 27, J961 filed >100,000
(2099)
—
$4.
Oct.
Co.,, Inc., N. Y,
-
.
i,
("Reg. A") 1,000 common to be offered to
stockholders. Price—$100. Business—Operation of a ski
T
31, 1961
"Continued
on
page
36
36
The Commercial and Financial Chronicle
(2100)
Continued from page 35
resort.
and
Proceeds—For
working
District Wholesale
debt
ski lift
Address—Thompsonville, Mich.
capital.
repayment,
Underwriter—None.
★ Cushion Inc.
/
»
a
new
.
—
writer—None.
retail
sales employees. Proceeds—Expansion and gen¬
corporate purposes. Office—1790 B'way, N. Y. Un¬
derwriter—Theodore Arrin &
Oct.
3,
1506
Co., Inc., N. Y.
Light Co. (11/15).
100,000 cum. preferred
filed
1961
debt
repayment
Commerce
St., Dallas, Tex. Underwriters—(Com¬
petitive). Probable bidders: White, Weld & Co.-Equitable Securities Corp. (jointly); Eastman Dillon, Union
Securities & Co.; Lehman Brothers; Blyth & Co., Inc.;
Harriman Ripley & Co., Inc.-Kidder, Peabody & Co.
(jointly); First Boston Corp. Bids—Expected Nov. 15 at
11 a.m. (EST). Information Meeting—Nov. 13 (11 a.m.
EST) at 2 Rector St., N. Y.
(Room 240).
/V*
*
Data-Design Laboratories, Inc.
Oct.
9, 1961
filed 100,000 capital shares.
Price—By
amendment.
Business—Publishing of technical reports
and
manuals
covering
—For debt repayment
California
E.
equipment.
electronic
and working capital.
Ontario, Calif.
Co., Los Angeles.
&
St.,
Proceeds
Office—945
Underwriter—Morgan
Dash, Inc.
Oct. 25, 1961 filed 108,000 common. Price—$5. Business
—Designing, converting, importing and distributing of
decorative
fabrics.
Proceeds—For
debt
repayment
and
general corporate purposes. Office—2445 N. Miami Ave.,
Miami, Fla.
Underwriter—Stirling, Linder & Prigal,
Inc., Jericho, L. I., N. Y.
Deer Park
to
be
offered
by the company and 80,000 shares by
Price—$6.75.
Business—Manufacture of
stockholders.
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
Delaware
&
Beane, N. Y.
Barrel
&
Drum
Sept. 26, 1961 filed 100,000
ment.
Co., Inc.
i
v
Price—By amend¬
plastic shipping con¬
common.
Business—Manufacture
and
Diversified
of
other
corporate
develop¬
Office—Eden Park
purposes.
Gardens, Wilmington, Del. Underwriter—G. H. Walker
& Co., N. Y.
Industries, Inc.
1961 filed 95,000 common. Price—$3.50. Busi¬
ness—Manufacture
of precision
ceeds—Plant expansion,
rubber extrusions. Pro¬
equipment, debt repayment and
working capital. Office—82-88 Washington St., Middletown, N. Y. Underwriter—I. R. E. Investors Corp.,
Levittown, N. Y.
Delta
Aug. 9,
Capital Corp.
1961
filed
amendment.
company.
500,000
Business
—
of
common
A
Proceeds—For
tional Bank
shares.
small
business
investment.
Commerce
Price
—
By
investment
Office—610
Building, New Orleans.
Na¬
Un¬
derwriters—Blair & Co., New York and Howard, Weil,
Labouisse, Friedrichs & Co., New Orleans (managing).
Offering—Expected in early 1962.
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.
Business
1961
Forms
Inc.
(12/4-8)
100,000 class A common (with at¬
tached warrants to purchase an additional
50,000 shares).
Price—By
amendment.
Business—Manufacture
tom-made printed business forms.
of
cus¬
Proceeds—Expansion,
payment
Ridge
man,
of taxes, and working capital.
Office—3747
Ave., Philadelphia. Underwriter—Suplee, YeatMosley Co., Inc., Philadelphia.
Dennis Real Estate Investment Trust
July 24, 1961 filed 100,000 shares of beneficial interest.
Price—$100.
Business—A real estate investment com¬
r
.
pany.
Office —90 State
Street, Albany, N. Y.
Under¬
writer—None.
Dero
j.V-.
Price—$5.
Research
&
Development Corp.
(11/27-12/1 )••
•
Business
Proceeds—For
general corporate purposes. Office—214 Engle St., Englewood, N. J.
ris Cohon &
Dixie
Underwriters—Lieberbaum & Co. and Mor¬
Co., N,, Y.
.r
.
..
...
,
-
,
♦.
.
Dinettes, Inc.
Price—$5.- Busi¬
1961 filed 144,000 common.
tables
of
chairs
and
Office—Dabney Rd., Richmond, Va.
ers.
for
use
in
Underwriter—
Rubin, Rennert & Co., Inc.
Dolphin-Miller Mines Ltd. ' ]' i*
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 exploration and production of ores. Proceeds—For
salaries .and general corporate purposes.^ Office — 25
Adelaide St., W., Toronto, Canada. Underwriter—Brewis
& White Ltd., Toronto.
V. '
Oct.
r
Don
Mills, Inc.
Sept. 27, 1961 ("Reg. A") 60,000 common.
Price—$5.
Business—Financing of shipments of business machines.
Proceeds—General
corporate
purposes.
Office—Red
Rock
Oct.
ment.
120,000
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.
Duffy-Mott Co., Inc.
27, 1961 filed 200,000
shares
are
shares
by
to
offered
be
by
the
which
of
common,
154,000
and
company
46,000
amendment. Busi¬
ness—A diversified food processor, packer, canner and
distributor.
Proceeds—For working capital.
Office—
370
Price—By
stockholders.
Underwriter—KidJdtf, 'Pea-
N. Y.
Lexington Ave.,
t
Price—By amend¬
Business—Distribution
parts
made
Proceeds—For a new subsidiary, repay¬
working capital. Office—27 S. Grant
by other firms.
ment
electronic
of
Underwriter—Birr & Co., Inc., San
Francisco.
("Reg. A")
30, 1961
Business—Manufacture
development
(11/20-24)
Inlc.
Dynamic Toy,
June
81,000
of
toys.
common. Price — $3.
Proceeds—Advertising,
products, expansion and working
capital/Address—109 Ainslie St., Brooklyn, N. Y. Under¬
of
new
writer—Hancock
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, »/
tures, $1,000; for stock, $10. Business—General real es¬
Proceeds—For the acquisition and development of
tate.
properties, repayment of debt and engineering, etc.
Underwriter—-Wood¬
dealer
General
■
Inc.
corporate
City, N.D.
Valley City, N. D.
finance
Office—164
purposes.
Underwriter-—Reserve
,
,
,
,
.
-
..
Busi¬
Proceeds
E.
Main
St.,
Funds,v. Inc.,
'/■,
<.
''
A") 100,000 common. Price—$3.
Business—Sale of water conditioning units to home own¬
29,
1961
("Reg.
Proceeds—Rental of units, new distributorships
ers.
Emrich
Densley Ave., Toronto.
Associates, Inc., N. Y.
Edu-tronics, Inc.
27, 1961 filed 80,000
-
and
Under¬
Office—36
I.
also plans to manufacture and sell electronic
teaching machines.
Proceeds—For product
develop¬
ment and other corporate purposes. Office—136-05 35th
Deuterium Corp.
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%
preferred
A stock held and one unit for each 10
class B shares
held. Price—$20 per unit.
Business—Company plans
to
manufacture and utilize all kinds of chemical
materials.
Proceeds—For start-up expenses for a
laboratory and
,
_
Lexington
_
Ave.,
Electronic
New
York.
Oct.
common.
pany
Ave., Flushing, N. Y.
Underwriters—Earle Securities
Co., Inc., and Packer-Wilbur & Co. Inc., N. Y.
•
Electra
International,
Ltd.
(11/13-17)
tronic communication systems and equipment. Proceeds
—General corporate purposes. Office—1501 72nd St. N.,
St. Petersburg, Fla.
Wilmington, Del.
Electronics
1961
make
—
automotive
field for sale outside the
United States. Proceeds—For research, and development
the
and
Underwriter—Laird & Co., Corp.,
'
'
150,000
into
chemicals.
of
common
electrical
Proceeds—For
Price—$1.
shares.
plans to develop
company
non-conductors
addition
(11/20-24)
Discovery Corp.
filed
The
device to
by the
a
conductors
research
de¬
and
velopment. Office — 1100 Shames Dr., Westbury, L .1.,
N. Y. Underwriter—Globus, Inc., N. Y.
'
Electrosolids
Corp.
1961 filed 100,000 cum. conv. preference shares.
Price—By amendment. Business—Production of devices
for converting AC-DC current for aircraft, missiles and
ships.
— Debt
repayment and other corporate
Office—12740 San Fernando Rd., N., Sylmar,
Y.
Proceeds
purposes.
Underwriter—J. R. Williston & Beane, N.
Calif.
• Electronic Transmission Corp.
CCtY 27, i 1961 '-("Reg. A'')
100,000 common.
Business
Manufacture,
design and field
and
other
corporate
Price—$3.
of
testing
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.
Electronics
Elmar
Inc.
1961 filed 200,000 common* of which 100,000
will be sold by the company and 100,000 by stockholders.
Price—By amendment. Business—Distribution of elec¬
tronic parts and equipment. Proceeds—Debt repayment,
Sept.
29,
expansion and working capital. Office—140 Eleventh St.,
Calif.
Oakland,
Underwriter—Schwabacher & Co., San
Francisco.
Inc.
(11/15)
1961 filed 320,000 common to be offered for sub¬
scription by stockholders of Emerson Radio & Phono¬
Oct. 6,
graph Corp., parent on the basis of one share of Emertron
for
each
seven
shares
of
Emerson.
Price—By
amendment.
Business—Design and manufacture of elec¬
tronic
equipment for missiles and aircraft. Proceeds—
General corporate purposes. Office—14th and Coles Sts.,
Empire Fund, Inc. (12/4-8)
filed 1,250,01)0 shares of capital stock to be
offered in exchange for blocks of designated securities.
Business—A "centennial-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.
June 28, 1961
ignition
working capital. Office—222 Park Ave., South, N* Y.
Underwriter—Ezra Kureen Co., N. Y*
-
G.
School
Becker
&
Street, Boston, Mass.
Co., Inc., Chicago.
Underwriter—
March 14, 1961 (letter of notification) 30,000 shares oi
capital stock (no par). Price—$10 per share. Proceeds—
To go to selling stockholders. Office—2801 W. Roosevelt
Road, Little Rock, Ark. Underwriter—Consolidated Se¬
curities, Inc., 2801 W. Roosevelt Road, Little Rock. Ark»
•
Empire Precision Components, Inc. (11/13-17)
("Reg. A"), 65,000 class A. Price—$4. Busi¬
Aug. 29, 1961
ness—The
precision
manufacture
electronic
of
metal
connectors.
component parts for
Proceeds—For moving
a new plant, equipment, repayment of loans
working capital. Office—574 President St., Brook-*
expenses,
-
*'
-
—1
Electro-Alec Instrument Corp.
u.
Energy Components Corp. (12/4-8),Sept. 1, 1961 ("Reg. A") 50,000 common. Price—$3.50*
-Business—Wholesale
ponents.
distribution
of
electronic
com¬
Proceeds—For expansion, advertising and
pro¬
motion, acquisition of a plant and equipment and other
corporate purposes. Office—1626 Nostrand Ave., Brook¬
lyn.
Underwriter—Albion Securities Co., Inc., N. Y.
Oct. 23, 1961
Forming, Inc.
("Reg. A") 50,000
common.
Price—$3. Busi¬
Manufacture
of energy forming machines and
products made by them,- Proceeds—For debt repayment
and general corporate purposes. -Office — 1326 Garnet
Ave.v San Diego. Underwriter—None.
•
'
ness
—
.
.
,
.
v
,•
V- '
.T■
Oct. 2, 1961 filed 133,333 common.
Price—By' amend¬
ment. Business-—Manufacture of
equipment for radiation
—
Sept. 15, 1961 filed 176,480 common. Price—$6. Business
—The design, manufacture and sale of potentiometers;
...
•
^ Energy Meta's
May 5, 1961 filed 70,000 capital shares. Price—To be sup¬
plied by amendment. Business—Manufacture of products
in
(12/4-8)
Communications, Inc.
lyn, N. Y. Underwriter—Ezra Kureen Co., N, Y.
/.V-
•**.?•
Proceeds—For development,
expansion, advertising and
working capital. Office — Broadway and Park Ave.,
.
•
Sept. 22, 1961 filed 150,000 common. Price—By amend¬
ment. Business—Development and manufacture of elec¬
and
Price—$4. Business
—Distribution of electronic parts and equipment. Com¬
Huntington, N. Y. Underwriter—James Co., N. Y.
devices,
Empire Life Insurance Co. of America
Price—$3.
business.
Economy Water Conditioners of Canada Ltd.
Sept.
J
Inc., N. Y. (mgr.). Offering—Expected in December.
-
recourse
Valley
writer—S.
1
& French, Inc., Philadelphia.
1961 filed 1,000,000 common.
ness—A
Y.:y;^
relays, and precious metal products. Proceeds—For the
selling stockholders. Office — 10 Romanelli Ave., South
Hackensack, N. J. Underwriter—Harriman Ripley & Co.,
Office—44
26,
N.
slip rings and brush block assemblies, switching
A.
Econ-O-Pay,
Co.,
July 28, 1961 filed 91,000 common shares (par 10 cents).
Price—By amendment.
Business—The manufacture of
cock, Moyer, Fricke
Oct.
&
Corp.
•
Aug. 22, 1961 filed $1,500,000 of subordinated debentures
due 1981 and 250,000 common shares. Price—For deben¬
1961 ("Reg.; A") 54,000 common. Price—$2.40.
Business—The manufacture of FM Deviation Monitors.
plant. Office—360
Underwriter—None.J
Underwriter—Burnham
J.
Electro-Tec
Jersey City, N. J. Underwriter—F. Eberstadt & Co., N. Y.
Properties Improvement Corp.
(11/13-17)
Aug. 24,
small
N.
Emertron,
Processing Corp. (11/20-24)
Sept. 8, 1961 filed 100,000 common. Price—$2.50. Busi¬
ness—The company conducts an electronic data process¬
Eastern
(11/13-17)
radar, missile and rocket industries. Proceeds—For the
selling stockholders. Office—600 Huyler St., Hackensack,
Securities Corp., N. Y.
EMAC Data
>
Corp.
1961 ("Reg. A") 100,000 common shares (par 10
cents). Price—$3. Business— The"manufacture of elec¬
tronic and electro-mechanical devices for the aircraft,'
of debt and
St., Stockton, Calif.
France
Office —4748
capital.
working
closed-circuit television.
Dunlap Electronics
Sept. 27, 1961 filed 80,000 common.
ment.
medical-electronic
Oct. 30,
/
Oct.
amendment. Business
instruments.
Price—By
of
Electro-Miniatures
Business
common. Price—By amend-'
Business—Manufacture of medicine droppers and
1961 filed
24,
•
July 26,
Dougherty Brothers Co.
For
—
.
subordinated
June 19,
Underwriter—Stan-Bee & Co.,
Bldg., Atlanta, Ga.
1971.
Avenue, N. Minneapolis.
Underwriter—Craig-Hallum,
Kinnard, Inc., Minneapolis (managing).
'
"
■;
Proceeds—For selling stockhold¬
kitchens and dinettes.
expansion.
•
Corp.
due
manufacture
Proceeds
Office—10 E. 40th St., New York.
filed
Instrument
Co., N. Y. Offering—Expected in January.
—The
Investment
—A small business investment company.
real
Demarco
Sept. 26,
Business
(12/4-8)
Delford
Sept. 28,
Small
body & Co., N. Y.
tainers and tanks. Proceeds—For research and
ment
closs, Parker & Redpath, Washington, D. C.
Baking Co.
Oct. 27, 1961 filed 90,000 common, of which 10,000 shares
are
&
Precision
debentures
Washington, D. C.
David &
tham
Electro-Med, Inc.
July 17, 1961 filed $540,000 of convertible
St., N. W., Washington, D. C. Underwriter—Auchin-
ness—Manufacture
shares. Pro¬
construction. Office—
and
comput-.
WalCo., Inc. Office—47-51 33rd
St., Long Island City, N. Y. Underwriter—Sterling, Grace;
ing devices. Proceeds—For the selling stockholder,
O
Sept. 28,
Power &
Thursday, November 9, 1961
repayment of debt, and working capital. Office—52-60
Sept. 27, 1961 filed 600,000 common.
Dale Systems, Inlc.
(11/27-12/1)
Aug. 9, 1961 filed 100,000 common. Price—$3.25. Business
—a
shopping service which checks the efficiency of
ceeds—For
retail stores in
Washington, Maryland and Virginia. Proceeds—For the
23, 1961 ("Reg. A") 20,000 capital shares. Price—$10.
Business
Manufactures rebuilt airplane type shock
absorbers and an improved electronic ignition system.
Proceeds—For debt repayment, equipment and working
capital. Office—2736 W. Palm Lane, Phoenix.
Under¬
Dallas
sale of drug products to
.
digitometers and goniometers used in airborne
convertible subord.
sinking fund debentures due 1976, also 100,000 class A
common.
Price — Debentures — At par. Common — $4.
Business—The
•
Oct.
eral
Drug Corp. of Washington
19, 1961 filed $500,000 of 6%
Sept.
.
.
Eon-
Corp.,^,
-detection
.
and: measurements.: Proceeds-r^For
-
equipment^
Volume
194
Number 6106
.
.
The Commercial and Financial
.
Chronicle
(2101)
37
1
leasehold
improvements
and
working capital. Office—
175 Pearl St., Brooklyn. Underwriter—L. H. Rothchild
& Co., N. Y.
';:_ f
v'"".
Proceeds—General
Equitable Credit & Discount Co.
27, 1961 filed $1,000,000 of 61/^% jr. subord. conv.
debentures due 1977 and 50,000 common shares to be
offered in units consisting of $500 of debentures and 25
shares.
Price—$550 per unit.
Business—Lending and
nard, Inc., Minneapolis. Offering—Expected in January.
Oct.
Proceeds—For
insurance.
working capital.
Office—674
Underwriter—Paul C. Kim¬
N. Broad
St., Philadelphia.
ball & Co., Chicago.
House/ Inc. (11/27-12/1)
Aug. 29, 1961 filed $2,000,000 of 6% subordinated sinking
fund debentures due 1971 and 400,000 common to be of¬
fered in 200,000 units, each consisting of a
$10 debenture
(with 2 warrants) and two
Price—By amend¬
common.
Business—The operation of hotels. Proceeds—For
investment in a subsidiary and realty acquisitions. Office
ment.
;E.
Wacker
Dr., Chicago. Underwriters
Bear,
Stearns & Co., N. Y. C. and Straus, Blosser & McDowell
Co., Chicago (mgrs.). ' •
' ' /
"
'
Guide, Inc. (11/13-17)
Aug. 4, 1961 "Reg. A" 50,000 common shares. Price—
$6. Business—The company plans to publish a national
magazine featuring detailed FM radio program listings,
reviews, interviews, etc. Proceeds—For general corpo¬
rate purposes.
Underwriter
York
—
Office—1711 Walnut Street, Philadelphia.
Valley Forge Securities Co., Inc., New
if Fairbanks Wire Co., Inc.
Oct. 30, 1961 filed 54,000 common. Price—$3. Business—
Manufactures
Proceeds
specialized
For debt
—
machinery
and
equipment.
repayment and general corporate
Office—Walnut St., M D 23, Newburg, N. Y.
Corp., N. Y.
purposes.
•
Family Circle Associates, Inc.
Aug. 30,
1961
filed 50,000 class A common. Price—$7.
operation of retail discount department
stores. Proceeds—For repayment of loans and working
capital. Office—30 Main St., Keyport, N. J. Underwriter
Business—The
1
—Russell
&
Saxe, Inc., N. Y.
Faradyne
Jan.
Electronics Corp.
1961 filed $2,000,000 of
30,
6%
convertible
amendment.
Business
ment
estate.
company
electronic components, including dielectric; and electro¬
lytic capacitors and precision tungsten; wire forms.t Pro¬
ceeds—For the payment of debts and for working capital.
Office—471
Cortlandt
Street, Belleville, N. J. Under¬
Note—July 11, the SEC insti¬
tuted "Stop Order" proceedings challenging the accuracy
and adequacy of this statement, t
5/
D. Fuller
Co.
,
Fashion
Homes
Inc.
(11/27-12/1)
July 18, 1961 filed $600,000 of subordinated debentures
due 1971; 100,000 common shares and 100,000 five-year
warrants (exercisable at from $4 to $8 per share) to be
offered for public sale in units of one $60 debenture,
10 common shares and 10 warrants. The registration also
covers 40,800 common shares. Price—$100 per
unit, and
$6 per share. Business—The construction of shell homes.
Proceeds—For redemption of 8% debentures/advances
to company's subsidiary; repayment of loans; advertising
and promotion, and other corporate purposes. Office—
1711
N.
Springfield, Mo. Underwriters
Globus, Inc. and Ross, Lyon & Co., Inc., New York.
•
%
Glenstone,
Fashion
Industries,
N. Y.
nue,
—
The
construction and manage¬
Proceeds—For repayment of
Business—A
ceeds—For
small
business
investment.
Manhasset, N. Y.
First Small
of
Each warrant will entitle the holder thereof to
purchase
one share of common stock at
$2 per share from March
loans
corporate purposes. Office—630 Third Ave¬
Underwriter—H. Hentz & Co., N. Y. (mgr.)
investment
Office—1295
Underwriter—None.
to August 1961 and at $3 per share from
September 1962
February 1964. Price — $4 per unit. Business — The
(formerly " Gar Wood Philadelphia
Truck
Equipment, Inc.), distributes, sells, services and installs
Gar Wood truck bodies and equipment in
Pennsylvania,
Delaware, and New Jersey, under an exclusive franchise.
to
if First New York Capital Fund, Inc.
Oct. 27, 1961 filed 2,770,000 capital shares.
company
Price—$1.
company.
Pro¬
Northern Blvd.,
*
Business Investment
Proceeds
common
stock.
Price
—$12.50 per share. Proceeds — To provide investment
capital. Office—Tampa, Fla. Underwriter—None.
•
First Western
Aug.
23,
1961
Financial Corp.
—A
be
an
company for a savings and loan associa¬
insurance agency, real estate and escrow agen¬
cies and an appraisal service. Proceeds—For
repayment
of a loan and general
corporate purposes. Office—118
Las Vegas Blvd.
S., Las Vegas, Nev. Underwriter—A. C.
•
Fleetwood
Securities
of
be
—
Inc.
—2828
for
buildings. Proceeds—For general
Office—100 S. Westmoreland, Or¬
Underwriter—Midland Securities Co., Inc.,
&
purposes.
,
'
shares
are
related
filed
to
be
offered
activities.
general
463,000
r-\ .j
common,
for
Proceeds—For
corporate
purposes.
debt
Office
—
•
in
&
Bessell, Inc., Washington, D. C.
Fastline
•
Sept. 28, 1961 filed $400,000 of 6% conv. subord. deben¬
1971 and 40,000 common shares to be offered
publicly in units of one $500 debenture and 50 common.
tures due
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.
'
.
Fidelity American Financial Corp.
Oct.
3,
1961 filed
—Commercial
100,000
finance
common.
company.
■
Price—$5. Business
Proceeds
—
Gen¬
corporate purposes/ Office—42 S. 15th St., Phila.
Underwriter—Netherlands Securities Co., Inc.,, N. Y.
Avenue
Cards, Inc. (12/18-22)
Sept. 28, 1961 filed 115,000 class A capital shares. Price
—By 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 &
Smyth, N. Y.
/
30,
ment.
1961 filed 500,000 common. Price—By amend¬
Business—Real
•
estate
investment.
Proceeds—For
Office—Munsey
Bldg.,
Baltimore,
the
food
Under¬
First Midwest
Capital Corp.
Sept. 28, 1961 filed 150,000 common.
ment.
Price—By amend¬
one
and 115,966
(1) one pre¬
six
preferred and
Financial
Corp.
(11/21)
of California
1961 filed $5,500,000 of conv. subord. debentures
Blvd., Beverly Hills, Calif. Underwriters—White,
Co., N. Y., and Dean Witter & Co., San Francisco.
'
<
-
Underwriter—None.
the
company
and
common;
95,000
by
hill, Noyes & Co., N. Y.
Glacier Publishing
70,000 to be offered
present
—26
stockholders.
N. Y.
Price—By amendment. Business—Printing and binding
of books, magazines,
catalogs, pamphlets, advertising
material, etc. Proceeds—Repayment of debt and working
■
A-
1
-
V
-
■.
Glass-Tite
are
Co., Atlanta, Ga.
Fram
—
The
manufacture
of
oil
and
air
Industries, Inc.
filed 185,000 common, of which 135,000
by the company and 50,000 by a stock¬
holder.
Price—By amendment. Business—Manufacture
of glass-to-metal hermetic seals.
Proceeds—For pur¬
chase of equipment, investment in a subsidiary, research
and development, moving expenses, and working capital.
Office—725 Branch Ave., Providence, R. I. Underwriter
—Hemphill, Noyes & Co., N. Y.
Office—764 -Miami Circle, N.E., Atlanta, Ga.
Underwriters—J. C. Bradford & Co., Nashville, Tenn.
Business
•
International, Inc.
B'way, N. Y. Underwriter—Farrell Securities Co.,
•;
.
Sept. 27,
filtration
equipment for engines. Proceeds—To reimburse Treasury
a recent acquisition. Office—105 Pawtucket
Ave., East
Providence, R. I. Underwriter — Merrill Lynch, Pierce,
Fenner & Smith Inc., N. Y.
1961
to be offered
for
Glen
Sept. 29,
Oct 20, 1961 ("Reg. A") 60,000 common.
Price — $5.
Business
Furnishing of scheduled air- transportation
Industries, Inc.
1961 ("Reg. A")
100,000 common.
Business—Manufacture of die casting and
if Futura Airlines
Business—A small business investment company,
follows:
as
(2)
common;
Girltown, Inc.
Sept. 28, 1961 filed 200,000 class A common shares. Price
—By amendment. Business—The manufacture of young
women's sportswear. Proceeds—For selling stockholders.
Office—35 Morrissey Blvd., Boston. Underwriter—Hemp¬
Corp. (11/20-24)
Sept 1, 1961 filed 50,000 common. Price—By amendment.
Md.
three
guide directories and certain annual publications. Pro¬
ceeds — Repayment of debt, and working capital.
Office
•
capital.
(11/20-24)
23,599 preferred
Foote & Davies, Inc.
Sept. 22, 196i filed 165,000
and Courts &
writer—None.
A")
Sept. 15, 1961 filed 112,500 common. Price—$3. Business
—Publishing of crossword puzzle magazines, pricing
Manchester, Conn. Underwriter—Putnam & Co., Hart¬
Sept. 20, 1961 filed 10,000 capital shares to be offered for
subscription by stockholders at the rate of one new share
for each two held. Price—$35. Proceeds—To\increase
("Reg.
'
in
capital.
First. Federated Life Insurance Co.
Research Corp.
per
Weld &
Foods Plus,
property acquisitions, debt repayment and other cor¬
porate purposes. Office—380-390 W. Middle Turnpike,
ford. "
ex¬
—
Inc. (11/13-17)
Sept. 22, 1961 filed 150,000 common. Price—By amend¬
ment. Business—A manufacturer, wholesaler, and retail¬
er of vitamin products. Proceeds—For
selling stockhold¬
ers. Office—62 W. 45th
St., N. Y. Underwriter—Shearson, Hammill & Co., N. Y.
by
if First Hartford Realty Corp.
Oct.
Business
Proceeds—For repayment of debt
and working capital.
Office—1207 Foshay Tower, Min¬
neapolis, Minn.
engineering,
Proceeds—For
due Nov. 1, 1976.
Price—By amendment. Business—A
holding company for a savings and loan association, a
bank, an escrow company and a real estate trustee.
Proceeds—Debt repayment, additional investment in the
bank and other corporate purposes.
Office—9111 Wil-
processing industry.
eral
Fifth
engaged
Price — $3.50,
activities with¬
mechanical
mathematics.
to be offered in units
and
Oct. 3,
shire
enterprises
!
(3) one preferred and nine common. Price—
unit; (2) $14 per unit; (3) $20 per unit. Pro¬
ceeds—For debt repayment, equipment, advertising and
working capital. Office—3203 Third Ave., N., Billings,
Mont. Underwriter—Wilson, Ehli, Demos Bailey & Co.,
Billings, Mont.
>
(1) $8
America
acquisition -of
electronics,
and
'
—
1961
Gibraltar
Price—$2.50.
of
*
common;
Inc.
Oct. 5, 1961 filed 50,000 common.
—The
6,
ferred
Sept. 26, 1961 filed 55,000 common. Price—$6. Business
—The distribution of novelties, candy, etc. through vend¬
ing machines. Proceeds—To repay loans, purchase ma¬
chines, and increase working capital. Office—990 Long
Beach Rd., Oceanside, N. Y. Underwriter—None.
Food Corp. of
General
;
.
Securities
(11/13)
1961 filed 200,000 common.
Company conducts various
common
corporate purposes. Office—1754
St., Anaheim, Calif. Underwriter—D. A.
Vending Co.,
Guardian
—
fields
the
Oct.
general
Lomasney & Co., N. Y.
Folz
Inc.
and
2611 Shirlington Rd., Arlington, Va.
Balogh & Co., Inc., Washington, D. C.\
and Irving J. Rice & Co., Inc., St. Paul, Minn.
—
and
7,
pansion. Office
23,
Clementine
Co., N. Y.,
Kinetics Inc.
Underwriters
1961 ("Reg. A") 60,000 common. Price — $5.
Processing and fabrication of fluorocarbon
plastic raw materials and parts. Proceeds—For debt re¬
S.
A
>
instrumentation
if Fluorocarbon Co.
payment
General
Aug.
Floyd Bennett Stores, Inc. (11/27-12/1)
Aug. 30,; 1961 filed 100,000 common. Price—By amend¬
ment. Business—The operation of discount department
stores. Proceeds—For repayment of loans and working
capital. Office—300 W. Sunrise Highway, Valley Stream,
N. Y. Underwriters—Goodkind,
Neufeld, Jordon Co., Inc.
and Richter & Co., N. Y. (mgrs.).
\
equipment, taxes, and working capital. Office—Gauthier
St., Tuskegee, Ala. Underwriter—Wright, Redden, Myers
'1:
■
,
Securities
Business
•
Business
St., Miami, Fla. Underwriter—Allen
Corp., Miami.
Highway, Pompano Beach, Fla. Underwriter—Hardy &
Co., n. y. ://' '."/./v ;; ■ vp•
:
Oct.
22nd
Office—7325 Northwest 43rd St., Miami. Undrewriters—
Equity
repayment and
1790 n. Federal
Sept. 26, 1961 filed 95,600 common, of which 68,000 will
sold by the company and 27,600 by stockholders.
Price—$4.75. Business—Manufacture and sale of women's
apparel. Proceeds—For repayment of debt, purchase of
be
S. W.
Co., N. Y.
Forms, Inc. (11/13-17)
Aug. 15, 1961 ("Reg. A") 100,000 common shares (par
10 cents). Price—$3. Proceeds—For repayment of loans,
plant improvements, equipment and working capital.
v-i
of which 310,000
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¬
opment and sale of undeveloped real property and
Oct/- 19,1961
'
Development Corp.
General
;
Corp.
General
(11/13-17)
Oct. 16, 1961 filed 61,500 common.
Price—By amend¬
ment. Business—Development of land for home and in¬
dustrial sites. Proceeds—For selling stockholders. Office
Distributing & Mfg. Co., Inc.
1961 ("Reg. A") 60,000 class A common. Price
Business—Manufacture
of
shutters, - doors and
Palm-Aire
Pro¬
repayment of loans and
ing—Imminent.
Florida
Florida
parts and
components.
inventory. Office—
Hempstead Turnpike, Farmingdale, N. Y. Underwriter
—Carter, Berlind, Potoma & Weill, N. Y. (mgr.). Offer¬
Oct. 24,
lando, Fla.
Kansas City, Mo.
radio
34
•
corporate
Distributors, Inc.
75,000 common. Price—By amend¬
filed
equipment, including TV and
ceeds—For
Electronics Investment
other .equipment
1961
ment. Business—The distribution of electronic
Corp., Contractual Plans
and^a broker-dealer registered with NASD. Proceeds—
To increase net capital and for investment. Office—44
Wall St., N. Y. Underwriter—General Securities
Co., Inc.,
—$5.
Gem Electronic
Aug. 25,
shares, of which 56,000
offered
stockholders.
v
a mill. Proceeds—For
repayment of loans, ac¬
quisitions and working capital. Office—224 Ivinson St.,
Laramie, Wyo. Underwriter—None.
by the company and 14,000
Price—$10. Business—Distribu¬
tor
>
mines and
•
to
are
shares by
Office—1180 Raymond Blvd., Newark, N. J.
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
Corp. of America
shares
Business Investment Co.
Gas Hills Uranium Co.
(12/4-8)
common
—
Aug.
/
t
Office
Underwriter—Godfrey, Hamilton, Taylor & Co., N. Y.
holding
(mgr.).
purposes.
27,, 1961 filed 330,000
investment.
offered
Allyn & Co., N. Y.
corporate
common. Price—$3. Business
—A small business investment
company. Proceeds—For
filed
to
are
general
Garden State Small
Oct.
(11/13)
450,000 common, of which 100,000
by the company and 350,000
shares by stockholders.
Price—By amendment. Business
shares
For
—
Kensington and Sedgley Avenues, Philadelphia, Pa. Un¬
derwriter—Fraser & Co., Inc.,
Philadelphia, Pa. NoteCompany formerly was named G-W Ameritronics, Inc.
Offering—Expected in November.
Company /.
Tampa, Inc.
Oct. 6, 1960 filed 500*000 shares of
sub¬
of principal amount.
is engaged in the manufacture
and distribution of high reliability materials and basic
writer—S.
25, 1961 filed 80,000 shares of common stock and
100,000 warrants to purchase a like number of common
shares, to be offered for public sale in units, each con¬
sisting of one share of common stock and two warrants.
N. Y.
ordinated debentures. Price—100%
Business—The
Jan.
(11/20-24)
of real
Co., San Francisco.
G-W Inc.
Aug. 8, 1961 filed 70,000
(11/21)
Pacific Coast Securities
Aug. 11, 1961 filed $3,000,000 of 6Y2% subordinated de¬
bentures due 1976 (with warrants attached).
Price—By
Underwriter—First Madison
•
service. Proceeds—For debt
repayment and general cor¬
porate purposes. Office—8170 Beverly Rd., Los Angeles.
Underwriters—Raymond Moore & Co., Los Angeles and
First National Realty & Construction
Corp.
tion,
City and Philadelphia.'
Office—512
purposes.
Underwriters—Paine, Web¬
ber, Jackson & Curtis, N. Y., and Craig-Hallum, Kin-
—
FM-Stereo
corporate
Ave., Minneapolis.
and general
Executive
-—71
Nicollet
ery.
•
*
Price—$3.
zipper machin¬
Proceeds—General corporate purposse. Office—130
r""-
A-
Continued
on
page
38
*n
38:
The Commercial and Financial Chronicle
(2102)
Continued from page 37
lounty Courthouse Rd., New Hyde Park, N; Y.
writer—G. Everett Parks &
Co., Inc., N. Y.
if Global* Steel Products Corp..
Nov.
1961- filed
3,
68,000
toilet
corporate
—
..'
•'.'
V.-v-
•
C'Regi A") 300,000 common s shares. Price
—At par ($10;. Proceeds—For construction of a coliseum
building, furnishings and incidental expenses. Address—
c/o Fred W. Layman, 526 S. Center, Casper, Wyo; Under-
July 21; 1981
writerr—Northwest Investors Service*
Incj, Billings, Mont.
30; 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
electric
Dayton, Ohio;
Donald & Co., Cleveland.
"V
G'uckin
(Wm.)
Co. Ltd;
Pro¬
•
,
100,000 capital t shares.
filed
company
Proceeds—Jb
coats.
or
leasehold
:
Price—By amendment/Business—The manuiacture
specialty printing inks, chemicals, and supplies.. Pro¬
ceeds—For general: corporate purposes.. Office—2525 N.
Elston
Gould
;
Price—$6.
•
Chicago (mgr.)
20,
ments
ness—Manufacture of
paper.
Business—A
•
Busi¬
Gradsaz, Annis & Co., Ipc.r
Sept* 21, 1961 filed 116,875 common, of which 25,350
shares will* be offered by. the company and 91,525 by a
stockholder., Price—By amendment., Business—Manu¬
Proceeds—To prepay netes and-, increased working capital.
Office—2311»-18th-' St., Tampa,
Fla. Underwriter—W. C. Langley & Co., N* Y.
facture
oft cjgars.
Grafco
„
11, 1961 filed 73,062 common, of which; 66,420 will
subscription by stockholders on a l.-for-5
basis. Price—By amendment: Proceeds—For construc-
and
non-diversified- in¬
tion and debt1 repayment;
'
General*
-
Price—By amendment;, Busi¬
Proceeds—
Office—314 N.. B'way, St.
& Go., St. Louis.
Louis* Underwriter—Edward D. Jones
Gro-Rite Shoe Co.,.Inc.-,-,
*
Proceeds—For
;
N. Y.
<
real
share for each 3.2367 common shares of
Ptice—By amendment. Business—The
Yoht
Hygrade Packaging Corp. (11/20-24)
,
1961'filed 100,000 class) A. Price—By amend¬
ment.
Business—The manufacture of paper cartons and
Proceeds—For product
development,/ expansion,
a loan and working capital. Office—92y00
Ave., Ozone Park, N. Y. Underwriter—P. J.
Gruber & Co., Inc., N. Y.
(mgr.).
C#o«
Investment
Proceeds
estate.
.
Ihnen (Edward H.) &
Son* Inc.
;
May 16, 1961 filed 75,000 shares of. common, stock. Price
—$5 per share. Business—The construction of public and
private swimming pools and the sale of pool equipment.
.
Office^—2200 Kivetf Dr., High Point,
t
.
Proceeds
,
—
and
Corp..
For
investment,
Office—660 Grain Exchange,
Underwriter—None.
&
Appley,
Underwriter—Arnold, Wilkens & Co., N. Y-.
^
Hickory Industries, Inc.
Aug.^3lV 1961; ("Reg. A")'40,000 common. Price—$5.
Business—The- manufacture of barbecue machines and
equipment. Proceeds—For equipment, inventory,
promotion, expansion and working capital! Office
—10-20• 47thi Rd;, Long Islhnd City, N. Y. Underwriter—
J. B; Coburn»Associates, Inc., N. Y. Offering—Imminent.
allied
sales
for,
To, reduce
working
indebtedness,„ to
capital.
derwriter— Amos
buy
equipment,
Office—Montvale, N./ J. Un¬
Treat) &
Co.,
Inc., N. .Y,
Offering-
Expected sometime in January.
Illinois
Capital Investment Corp.
Sept. 19, 1961 filed 250,000 common.
Price-^—By. amend-
-
repayment: of
Inc.
Oct. 27, 1961 filed 100,000 class A common.
Price—By
amendment.
Business—General real estate. Proceeds—
For investment;
Office-—16 Court St., Brooklyn, N» Y.
•
Underwirter—McLaughlin,,Kaufman.& Co., N.: Y.
Atlantic
expansion.
Herman
Aug. 29, 1961? filed 460,003 commoni to - be.offered! in
exchange'for stock of Chemetals Corp., on the basis: of
five-shares for each $& cumulative preferred share (par
•
ment.
debt, and working capital.
.
Proceeds—For debt repayment and genOffice—101 Park Ave., Hudson,
purposes.
Aug. 30,
/
J
Minneapolis.
Industries, Inc;
Calif.
•
Hygiene Industries* Inc. (11/20-24)/;
.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.,
N. Y. Underwriter—Milton D. Blauner &
Co.,, N. Y.
Office—103 W.
Underwriter—Michael G; Kletz & Co.,
^
June 5, 1961 filed 13,000 5% .preferred shares: ($100 par)
and 13,000 common shares to be offered for sale in units
of one preferred and? one common share.
Price—$101
per unit. Business—The acquisition and development of
^
Burlingame,
repayment of
Sti,. N. Y.
Hazeltine
and.casualty insurance.
Bayshore- Highway,
Offering—Expected sometime in, January-.
Inc.
N. C. Underwriter—None.
Proceeds—To increase capi¬
tal1 and' surplus.
Office—25 S. Perry St., Montgomery,
Ala. Underwriter—None.*., .ry,,
--,r ..
?/
erai: corporate
boxes.
plant
withdrawn;.
chain of motor hotels. Proceeds—
and general? corporate purposes.
Hydra-Loc*. Inc.
brake control.
,
/
components
Price—$10.
10, 1961 ("Reg. A") 60,000 common.
Price—$2.
Business—Design, development and* manufacture of- a
.
30, 1961 ("Reg: A;') 275,000 common to-be offered
for subscription by stockholders.
Price—^75c. Business
—Manufacture
and
design of yachts. .Proceeds—For
Gulf' American Fire & Casualty Co.
•
.
shares.
Oct
Oct.
Sept. 28, 1961 filed'226,004 common to be offbred for
suDScription by stockholders on the basis of three new
snares for each 10 held. Price—$2. Business—Writing of
held!
Long Island
Co., Ni Y.
caiptal
Hammill & Co., N. Y.
43rd
apartment units, buy land, and for working capital. Of¬
fice—Suite 418, Albert Bldg., San Rafael; Calif. Under¬
writer—Pacific Coast Securities Co., San Francisco, Calif..
One
Corp..
&
New York.
plans to engage in all phases of: the-real-estate;
business. Proceeds — To reduce indebtedness, construct,
and
son,
Proceeds—For
Office—3Q*30> Northern
City,. N» Y. Underwriter,—Charles
purposes.
a
repayment
1290
—
.')v"
.
350,000
Underwriters—J; Barth & Co., San Francisco and Shear-
military transmitter-receivers^
corporate
debt
Office
capital and! general corporate purposes.
pany
Chemetals
ment and
Hlsttorfls
Gulf States Land &
Electronics
including: high fidelity, radio and
television parts and equipment. Proceeds—For working
May 9, 1961 filed 50,000 shares of common: stock. Price
—'1*0 be supplied by amendment; Business—The com¬
$10)
Marine
196L filed 100,000-common, of which 75,000.»are
to be offered by the company and» 25,000 by a selling
stockholder.
Price—$4; Business—Manufacture of ma¬
rine and) mobile communications. and electronic equip¬
tronic
Lynn, Mass. Underwriter—Mann & Creesy, Salem, Mass.
•
discount' department' stores. Proceeds
of debt* expansion and- working, capital.
102nd St;, Los Angeles. Underwriters-
W.
//
•
Oct.
filed 200,000 common, of' which' 100,000 are
to be offered! by the company and 100,000 by a selling
stockholder.
Price—$5v Business—Distribution of elec¬
(letter of notification); 100,000 shares, of
stock (par $1). Price—$3 per shaie. Address—<
(11/27-12/1)
Underwriter—None.
Hyatt Corp.
Octf 27; 1961.
Growth, Inc.
fire
Ore.
For
Office—5330
Blvd.,
May 17,, 1961
Growth Properties
ing
to be offered in denominations of.
$250, Price—At
Business—A wholesale grocer. Proceeds—For work¬
capital. Officer—320 Norths River Rd:yJ Milwaukie,
—Repayment
Plohn
molds, construction and working capital., Address—Route 2, Box 129, Mount Gilead, N. C. Underwriter—
None..Offering—Expected in November.,
was
par.
20, 1961 filed
Business—Operates
;
new
Note—This letter
("Reg. A") $250,000 of 10-year 6% deben¬
tures
Sept. 25,1961' filed)$5,000,000 of conv. subord; debentures
due 1981: Price—By amendment; Business—Operation, of
general
by stockholders on the basis of one $100 debenture for
each 60 shares held. Price—At par. Business—The man¬
common
if Hudson House*. Inc.
Oct. 20,, 1961
Inc.
Stores,
Harvey Radio Co.,
of specialized children's shoes.
Proceeds—For sell¬
Office—First Federal Bldg.* St./Petersburg, Fla; Underwriters—Blyth & Co., Inc.,, Lehman Brothers and Allen
& Co., New York.
/
,
July 21*. 1961- filed $500#00 of 6% convertible subordi¬
nated debentures due 1970 to be offered for subscription
ufacture
/
Underwriter—None.
Hartman
end - investment company.
corporate purposes.
ment, inventory and'working capital; Office—11 Tenth
Ave., S., Hopkins, Minn. Underwriter—None.
Oct. 27*
(mgr.)#t
Sept:f 11*.196L filed. 100,000 common to be offered for/
subscription by stockholders on the basis of' one new
share for each three held.
cosmetics.
,
Price—$4./Business
for subscription by holders of common and class A stock.
Price—By amendment. Business — The; operation of a
pipe line system of» natural gas), Proceeds—For expan¬
sion, working capital and: general/corporate purposes.
i
Alstyne; Noel & Co/* N/Y.rand Johnston, Lemon &
Co., Wash., D. C. Offering—Expected sometime in Nov.
Griesedieck Co.
ness—A\ closed
Inc. (12/4*8) July 28, 1961 filed 700,000 common shares . Price^-$1.
Business—The marketing of gifts, candies and greeting
cards through franchised dealers.
Proceeds—For equip¬
Happy House,
Van
ment; salaries and general corporate purposes. Office—
Dr., Westbury, N. Y. Underwriter—N. A.
Co.y Inc^Bayside, N. Y.
of
/
;
■
-
•
retail apparel anct
-
2500i Shames
&
distribution
and
*:
'
of
Westmore, Inc.? •
27, 1961 filed 150,000 common.
Sale
A;')' 100,000 common; Price—$3.
Fabrication of components for missiles-, jet
—
Hartfield
Aug. 24, 1961 filed 140,000 common; Price^-$2.25. Business—The manufacture of precision meteorQlogical in¬
struments; Proceeds—For repayment- ofr loans,, equip¬
Hart
House
Oct.
«
(11/27-12/1)
Instrument Co.
(Henry J*)
•
ing stockholders. Office—1201 E. 16th St., N: Y. Underengines, aircraft, landing gears: and; precision machines. V writers—Brand, Grumet & Seigel, Ihc. and Kesselman
& Co., Inc., N. Y. Offering—Expected in January.
Proceeds
Machinery, research and development and
working capital: Offioe—40 Sea: Cliff Ave., Glen Cove,
Houston Corp.
N. Y. Underwriter—Albion Securities COv„ Ip£*f),N.,,Y.
June 9, 196b filed 583,334 common- shares to. be offered
Pa.
Proceeds—For the operation of • a< subsidiary,
new product- development, equipment
andi other corpo¬
rate purposes. Office—291 Third Ave., Ni.Yt Underwriter
—Philips, Rosen and Appel; N..YL
/
supplies;
Green
Office—lOSO'Bishop St., Hono¬
lulu* Hawaii. Underwriter—None.
(11/27-12/1)■-
Inc.
HarJeysville Life Insurance Co*.
Sept, 27, 1961 filed 77,250 common. Price—$4. Business
—Manufacture-oft graphic arts equipment;,chemicals and
•
<
Sept. 21* 1961 filed 40,000. common. Price—$15. Business ;
—The writing-, of: all'types, of life insurance and; an¬
nuities. Proceeds—Working capital. Office—Harleysville,
Inc.
Industries,
Co., Los Angeles (mgr.).
Ltd.,
—
Proceeds—Expansion; and
Office—Lyons Falls, Ni Yi Underwriter
Co., Inc., N. Y. Offering—In early Jan./
working capital.
—Amos Treat &
to
be offered for
amend¬
196b ("Reg.
Aug; 11-
being offered
Oct.
(11/27-12/1)
closedrend
Industries,
Hannett
Business
Price—$11.
.v/f'y
common
derwriter—William R. Staats &
•
er
Co.
Paper
Fourth Ave.-, New York; UndOr& Beane, New York.
•
;
Williston
R.
Honolulu Gas Co.,
filed> 740,000 common. Price—By
1961
par.
dry-cieaning
'
Co.
A.)
(M.
Kanna
V;
Sept; 28, 196b filed 140,000 common;
and
stockholders;of TelAutograph Corp., of record.Oct/27 on
a l-for-3 basis, with rights, to expire Novels? Price—$4.
Business—Manufacture of electrolytic recording paper
and equipment. Proceeds^—For repayment of debt and
working capital: Office—635 Greenwich St:, Ni" Y. Uh-
-
Underwriter—Blunt. Ellis & Sim¬
Ave., Chicago.
mons,
Bermuda.
private country club.
Philadelphia? (mgr..)
Price—At
pressing
';
Hogan. Faximile Corp.,
July. 26, -1961: filed- 300,000'
(Hanna Mining, Go*).
Office— 1300, Leader. Bldg.,
Cleveland. Underwriter—First Boston Corp., N» Y.
•/
>
of
Office^—107
purposes.
writer—J.
of
Proceeds—For pur¬
chase of land; construction and! general) corporate pur¬
poses;
Office—1352 Easton Rd;,.. Warrington,, Bucks
County, Pa. Underwriter—Metropolitan Securities,, Inc.,
a
shares" held.
''
:
vestment? company. Proceeds—For the selling stockhold¬
and;
21
Business—The
equipment.
Proceeds—For repayment of loans and'general-corporate
,
plans to operate a * public goli
course
each
manufacture
Kandschy Chemical Co*. (11/20-24)/
Oct,
Business—The
of1 fur
for
ers.
I no. r
Aug,. 218,. 1961
A"), 150,000
Aug, 25/ 1961 filed. 150,000 common, of which 50*000 are
to be offered by the company and 100,0(00/byy stockhold¬
(1/4)
Bldg,, Hamilton,
Underwriter—Globus, Inc., N. Y. C. (mgr.)/
Go If t Courses,
in¬
Under-
St., Los: Angeles,
.
Office
Underwriter—Mc¬
Bermuda
of
7V*r77V/7.:'77
common; Price—$2.
-
equipment, advertising," wording.*-capital
and inventory/ Office—350: Seventh Ave;, N> Y. Under¬
writer—B; G. Harris & Co;, N. Y. Offering—In January.
repayment of loans and general corporate purposes.
Office—Bank
S. Hill
Office—760
vestment.
improvements,
Aug 25/ 196i:filed 175,000 common. Price—$10; Business
—The manufacture of ladies' underclothing. Proceeds—
For
Proceeds—For
management?, investment; company;
;
(11/13-17):',
Co.,>lnc;
Corp.
("Reg,
1961
29*
Business—Rental
repayment and working'capital;
Stanley Ave;,
Haltone Rental
Sep.
motors, powdered1 metal* products
and. devices for the missile and aircraft' industries.
—1784*
subscription by stockholders of Union Bank of Califor¬
nia on a share-for-share basis: Price—$3^ Business—A
'
Oct:
ceeds—For debt
Insurance
16/1961 filed 2*265,138 common to be offered-for
Oct.
^
•
Inc.
Industries,
of* miniature
Hill Street Cc.
'
•
V.;:• /:./■;/. /
:
Aug. 3, 1961 filed 225,000 common shares.: Price •— $3. •;/ writer—None.
Business—Ah insurance company. Proceeds—For capital
/ • Hoffman; International Corp.
(11/20-24)/' ; / ; / •
and surplus. Office—636 S. Park St., Madison, Wis. Un¬
July 18,. 1961: filed $2,250,900 7.%. convertible suborderwriters—Braun, Monroe & Co:, Milwaukee hnd Hardinated debentures due 1973; to be ofieredtfor subscripley, Haydon & Go;, Inc., Madison.
'
'
;
tion by stockholders/on the basis of $100[? of debentures
Offering.—Imminent*
Globe
Hallmark
working capital^ Office—130 Lincoln SL, Brighton, Ma^s.
Underwriter—L. F. Rothschild & Co;, N. Y. •. /
;
t
;
General'corporate purposes; Office — NI 14th St, and
Lafayette Ave.,; Kenilworth, N. J:. Underwriters—Ross,
Lyon & Co., Inc., and Globus, Inc., N. YT
/
f
:-
opment* leasehold, improvements, repayment of debt and
—Manufacture
D,
Treibick, Seiden & For¬
/;.• -
Inc..
Coliseum,
Avenue
devel¬
Proceeds—For equipment, research and
models.
Aug. 25, 1961 filed; 225,000 common. Price—$2. Business
of
agricultural, chemicals. Proceeds—
and
repayment
Sept. 28, 1961 filed 120,000 common. Prict?+—3y amend¬
Business—Manufacture of
products^ fromv test
ment.
...
Ha I co Chemical Co.
prefabricated
Office^—10014
purposes.
Brooklyn, N. Y. Underwriter
syth* N\
:
Globe
of.
Proceeds—Debt
compartments.
general
Price—By. amend¬
metal
common.
Business—Manufacture
ment.
(12/4-8)
High Temperature Materials,';.lnc;
exploration.and; development of- oil and gas- properties.
Office—3835 Madison* Ave., N. Y.
Underwriter—None.
Note—Previous, reports; inadvertently stated / that* the
above registration covered a rights offering to stock¬
holders of' Chemetalk Corp.,- whereas it: is1 really an
exchange offer.
/;;
Under¬
Thursday, November 0; 1961
.
.
.
Business—A small business
investment)
i!ce~o° North Wacker Dr., Chicago,
.
company.
111. Underwriter
Blair &» Co., Inc., N. Y. Offering—Late in November.
if. Industrial Finance
Oct. 30, 1961 filed
tures
due
1974,
riff-
& Thrift
$2,000,000
Price—At
Corp.
of 6% subordinated deben¬
par.
t
Business—A
°oond^i For rePayment of
Underwriter—None
consumer
debt and ex-
Carondelet St, New Orleans, La.
Industrionics Controls* Inc.
7 ; 1 7
July 26, 1961 filed 84,000 common shares.
Price — $5.
Business
The manufacture of
electronic, controls for the
monitoring of machinery. Proceeds—For
repayment of a
n'tr-PAcfCivfu\ raw a field
tising, establishment of material
and equipment, adver¬
engineering service
or-
Volume
194
Number 6106
ganization and other corporate
St., N. Y.
dam
.
.
Commercial and Financial Chronicle
The
.
to
Office—20 VanSecurities Co., N. Y.
purposes.
Underwriter—J
acey
Inpak Systems, Inc.
packaging
and
&
tional and operating expenses.
Busi¬
leases
debt
repayment
Lexington
and Joseph
<
purposes.
.
Johnson
Office—441
Underwriters—Stearns
&
Co.
Sept.
8,
special
King Louie Bowling Corp.
Sept. 27, 1961 filed 325,000 common. Price—$3. Business
—Operates a chain of bowling centers. Proceeds—Repay
Office—52 Wall St., N.Y.C.„
chanical devices used to determine the accuracy of aircraft flight instruments. Office—170 Coolidge Ave., En-
and
debt
capital
shares.
Metcalfe
Business—The
design
and
Price—By
production of
components for the commercial and
Proceeds—For the repayment of debt,
working capital.
' ''
' "7 '
.
Jomar Plastics, Inc.
Ripley Industries, Inc., below.
v,
•
International Management Corp. (11/20-24)
>
Aug/21, .1961.
A?') .1Q0,00(): eqmrhon (pai/$iL .Price
—$3: Proceeds—For loans tp subsidiaries and working
capital. Office—7510 B. Oranby St., Norfolk, Va. Under¬
-
-
//7v>/,:,7/./
Greeting Card Co., Inc.
Sept. 28, 1961 filed 110,000 common.
/
;;
i
•
International
Mech-Tronics, Inc. (11/27-12/1)Al>)/120,000 common. Price—$2.
Business—The.t manufacture of precision- " instruments.
1 ;1961*.("Reg.
Proceeds—For equipment and working
176
E.
Arrin
capital.- Office—106-11 157th. St., Jamaica, N. Y.
Underwriter—Godfrey Hamilton, Taylor & Co., Inc., N. Y.;
Joyce Teletronics Corp.,
31,. 1961 ("Reg. A") 55,000
;
Aug.
>
Business—The
used in
Co., Inc;,;N. Y. Note—This firm formerly
as Electronic International, Inc.
/
•
: 'V /'
InterpSioto
*
Corp.
Sept. 15, 1961
,
;
new
son
was
ties
'
sound
f
filed 200,000 class A common.: Price—$9.
equipment
*
Interstate
Business
centers
acquisition and
repayment
poses.
Office
of debts
operation
general
of* bowling
1981
the
be offered
for
subscription by stockholders
basis
other
establishments
food
weller
//:,*;/''
jf- Jackson Optical, Inc.
''//-//^
;
^
30,
1961
("Reg.; A")
Business—Wholesale distribution of optical goods.
ceeds—For
expansion
and
working
capital.
>
.
(The).
.
•
Oct.
Japan Fund,
filed 2,000,000
19,-1961
-s-
$12.50.
Broad
St/N.. Y. Proceeds—For investment in; Japanese
Paine, Web¬
ber, Jackson & Curtis, N. Y., and Nikko Securities Co.,
Ltd., Tokyo, Japan. -
securities.. Underwriters-^-Bache & Co., and
Jarrell-Ash
Co.
(11/27-12/1.)
working capital.
Office
—
7 Farwell
•
Corp., Boston;
St., Newtonville,
;
Jayark Fifms Corp;.. (11/13-17)
Francisco.
r
Clay?
7 V/-'//
San;
Francisco^
V
/
V
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.
Jefferson
Counsel. Corp.
March
•
tail stores.
and
a
new
store, working capital'
Office —201 W. 49th'
St., N. Y. Underwriter—To be named.
•
Kulicke & Soffa
Manufacturing Co. (11/24)
15, 1961 filed 122,980 common shares, Of which
100,000 shares are to be offered by the company and '
22,980 shares by stockholders. Price—By
amendment.
Business—The manufacture of machinery for
production
transistors and similar devices. Proceeds^For pay--
of
ment of
taxes, new products, down payment on a new"
plant and general corporate purposes. Office—401 Nr
Broad St.; Philadelphia.
Underwriter—Marron, Sloss &
•
amendment.
Business—Furnishes
services.
Proceeds—For
clerical
L. L. Drug Co., Inc.
(11/27-12/1)
snares. Price—$4.50/
pharmaceuticals.. Pro¬
ceeds—For repayment of a loan,
purchase of equipment/
research
and
development, advertising and working
capital. Office—1 Bala. Ave.* Bala-Cynwyd, Pa. Under-**
writer—Stevens Investment Co., Bala-Cynwyd, Pa.
Business
Office—13314 Woodward Ave.,'HighUnderwriters-Dean Witter & Co., San
V
' ;
/
'
,
Industries, Inc.
—
common
The manufacture
or
•
vertising,. leases, and working capital. Office
Stocker St., Los Angeles. Underwriter—Pacific
Securities Co.,, San Francisco. 1
Air
doors.
„
Proceeds—For
purposes.
—
Office—5581
Terminal
Dr., Fresno, Calif. Underwriter—Currier
Carlsen, Inc., Los Angeles. Offering—In December,
Kent Dry Cleaners, Inc.
.
Aug.
25,
• Lam-Craft Corp.
Oct;, 27, 1961 ("Reg. A") 50,000
(11/13-17)
filed 165,000 common, of which 45,000
are to be offered by the
company and 120,UO0 by stock¬
holders. Price—$5. Business—The dry cleaning, and stor¬
age of clothes. Proceeds—For working capital; and gen¬
•-
eral corporate purposes. Office — 1745 Clintonville St.,
Whitestone (Queens) N. Y. Underwriter—Arnold Malkan &
Kentucky Central Life & Accident Insurance Co*
—1304
of debt, expansion and
Office—249 W. 34th St., N. Y. Under¬
& Co., N. Y., and Johnson, Lane,
Space Corp., Savannah. Offering—Expected/in Dec.
H.
Blair
Kiddie
Rides, Inc.
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.
organized under Delaware law in January 1961
For repayment of loans, equipment and general corpo¬
operated
children's
amusement
equipment.
Price—By amend¬
Blvd.,
Larr
Charlotte, N. C.
Underwriter—R.
S/
Co., Charlotte, N. G. (mgr.)./
Optics & Electronics Co.
Oct. 2, 1961
("Reg. A") 75,000 common. Price—$2. Fro-!
expansion, equipment, research and devel¬
opment and working capital. Office—1375 West Maple
St.* Denver. Underwriter—Schmidt, Sharp, McCabe &
Co., Inc., Denver.
ceeds—For
Kenwin Shops, Inc.
Sept. 27, 1961 filed 80,000 common. Price—$5. Business
—Operates a chain of women's and children's apparel
Proceeds—Repayment
S.
Dickson &
Aug. 16, 1961 filed 400,000 class A non-voting common
shares, of which 200,000 shares are to be offered by the
company and
200,000 shares by stockholders. Price—
From $13 to $17 per share. Proceeds—To increase capital
and surplus. ; Address—Anchorage, Ky.
Underwriter—
Stifel, Nicolaus & Co., St. Louis (mgr.)./;
stores.
common.
ment. Business—The manufacture of
peanut butter filled:;
delicacies. Proceeds—For the selling stockholders. Office
7 (11/13-17)
writers—D.
Price—$2.50.
rate purposes. Office—910 N, Mansfield
Ave., Chicago.
Underwriter—None.
Lance, Inc.
Aug. 30, 1961 filed 364,000
Co., Inc., N. Y. C.
working capital.
common.
2701'
Coast
Business—Manufacture of products in the hobby craft,)
model and allied fields. Proceeds—For general
corpo-:
1961
Price—By amendment. Business^—'The operation of coin
Proceeds—For
general corporate purposes.
Aug.
13, 196T. filed 30,000 of class B common stock
(non-voting). Price—$10 per share. Business—The com¬
pany was
Office—521
Kronfeld (Phil), Inc.
• "V
'•
. 7.
July 28, 1961 ("Reg. A") 75,000 common shares (par 10cents). Price—$4. Business—The operation of men's re¬
1
shares.
r
sliding aluminum windows and
equipment and general corporate
>
Jaylis Industries, Inc.
Oct. 18, 1961 filed $850,000 of 6V2% subord. debentures
due 1971 and 212,500 class A common shares to be of¬
fered in units of one $100 debenture and 25 class A
Price—$1,000. Busi¬
investment, Proceeds—Repayment of
Laboratory Procedures, Inc. Ul/27-12/1)
Sept. 29, 1961 ("Reg. A") 100,000 capital shares. Price-4$2.50. Proceeds—For. debt repayment,
equipment, ad¬
Aug. 24, 1961 filed 72,000 common, of which 50,000 are
stockhold¬
ers* Price;—By
amendment. Business—The distribution
of motion picture and* television films. Proceeds—For
production of films and working capital. Office—15 E.
48th St., N. Y; Underwriter—Pacific Coast Securities Co.,
Estate
$1,000 of de¬
shares held.
Sept. 11, 1961 filed 150,000 common, of which 100,000 are
to be offered, by the company and 50,000 by a selling
stockholder.- Price—$4.
Business—The manufacture of
•
,to be offered by the company and 22,000 by
Offering—In.
debt, investment, and corporate purposes,
Ave., N. Y. Underwriter—None.
18-22)
.
&
Mass. Underwriters—r-Stearns &■ Co., New York and
ton Securities
office
working capital.
land Park, Mich.
-
Aug. 17,. 196T filed 60,000 class A common shares and
9,000 outstanding voting, trust certificates (representing
beneficial, interest in 9,000; class B common shares). Price
—By amendment. Business—The manufacture of; optical
instrumentation. Proceeds—For repayment of loans and
ness—Real
50
^Fuly 26, 1961 filed 100,000
.Kendall
Business—A' diversified investment company; Office—25
(12
Price—By
.
(12/11-15) '
common.
Price
Inc.
,
Y.
Co., Inc., New York (managing).
temporary.
Office—64
Park'Ave., Rockville Centre* N.-Y./Underwriter—
Stan-Bee & COi, Washington, D. C. .: :
' •
N.
B shares at the rate of
holder.
Pro¬
N.
Co.,
5th
Belly Girl' Service, Inc.
Price—$2.
75,0C0 /common;
&
Oct. 27, 1961 filed 100,000 common, of which 25,000 are
to be offered by the company and 75,000 by a stock-
/
'
Oct.
and class
bentures for each
Sachs & Co.. and Lehman Brothers, N. Y.
v
.
.
class A
24, 1961 filed 380,000 common. Price—By amend¬
ment.,. Business — Manufacture of clothing, camping
equipment and bedding items principally for Sears, Roebuck & Co; Proceeds—For selling stockholders. Office—
ill W. Monroe St., Chicago. Underwriters — Goldman,
Rapid City,
1785,
Address—Box
;
Underwriter—Gianis
December.
Kratter Corp.
Sept. 27, 1961 filed $100,000,000 of 6% subord. debentures
due 1976 (with attached five-year warrants to
purchase
2,000,000 class A common) to be offered to holders of
Oct.
ifc Jki B/'Oik Treatment Corp.
>-/..
jQcL 26,-1961 ("Reg. A") 1,250, common. PriGC—$100.
Business—Treating and cleaning crude oil in tanks, andOil and! gas wells.* Proceeds—For equipment, chemicals
Underwriter—None.
Y.
late
Co., Boston.
re¬
Ave.,
N.
Corp.
Kellwood Co.
Underwriters—General Securities Co., Inc., and S. Kasdan & Co;, In?., N. Y. Offeringr—Expected in December.
working: capitals
mercial and industrial organizations. Proceeds—Debt
payment and working capital. Office—76 Ninth
of
Office—101 Bradley Place, Palm Beach, Fla.
Underwriter—Casper Rogers & Co., Inc., N. Y. Offer¬
ing—Expected late in December.
domestic feature films. Proceeds—For acquisition,
co-produ.ctiop, dubbing, adaptation and distribution of
films;, and. working capital. .Office—1776 B'way, N. Y.
C.
Koster-Dana Corp.
purposes.
and
S;
&
repayment of debt, and working
E. 34th St., N. Y.
Underwriter—'
Sept. 28, 1961 filed 70,000 common. Price—$5. Business—
Publishing of informational booklets for financial, com-*,
Development of land, construction of homes and related
activities in Florida. Proceeds—Repayment of debt, ac¬
quisition of Yetter Homes, Inc., and general corporate
Interworld Film Distributors, Inc.
Sept. 29, 1961: filed 106,250 common. Price—$4. Business
Theatrical distribution 'and co-rproduction
of foreign
and
Atherton
the
Office—16
Street & Co., Inc., N„ Y. (mgr.).
June 29, 1961 filed $1,200,000 of 6%'.% convertible sub¬
ord. debentures due "1968. Prices—At 100%, Business—
•
-
capital.
Electronics, Inc.
Oct. 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,Ttennert & Co., Inc., N.Y.
and
Byllesby :& Co., Inc., Chicago. V
Proceeds—For
Co., Inc., N.Y.
repayment
common.
Of the 180,000 shares,
40,000 wilU
by the company and 140,000 by Massachusetts
Plush Co., Inc., sole stockholder.
Price—By
sold
European made electronic and mechanical instruments.
Offering—Imminent.
•
and. H." ;M.-
J.
,
Business—The manufacture of
vibration,
shock and noise control products and the distribution
of
Price—$4.50.
electronic
power
For
.
Korfund, Inc. (11/27-12/1)
/
:
,
Sept. 8, 1961 filed $600,000 of 6^% convertible subord.
debentures due 1971 and 180,000 common to be
offeredfor public sale in
units,, each consisting of $100 of deben—
Mohair
new
Underwriter—Schirmer,
—
.
amendment
common.
Proceeds
N.
gift shops.. Pro¬
ceeds—For expansion; Office—11255 W. Olympic Blvd.,
Los* Angeles. Underwriters—Glore, Forgan & Co., N;: Y.
rants,
equipment.
,
•
•
of
"
,
Price—By amend-,
Business—Design and manufacture of toys. Pro¬
working capital;
Office—401 Butler
St.; *■
Brooklyn, N. Y. Underwriter—Netherlands Securities...
Co., Inc., N. Y.
;
be
Kann-EIIert
Hosts, Inc. (12/11-15 )
filed $2,550,000 of con. subord, debentures
to
50,000
manufacture
■
common.
tures and 30
products, equipment, inventory, sales promo¬
tion and working capital. Office—3 Monroe
St., Union
Calif.
of $100 of debentures for each 33 shares
held. Friee—At par. Business—/The operation of restau¬
on
("Reg. A")
The
loans,
corporate- pur¬
Interstate
Och 2;'* 1961
working capital,
Offering—Expected in January.
s
Magnolia Ave., Riverside,
10391
—
and
—
conversion
■
„
*
Electronics, Inc.
1961
Business
Underwriter—Currier & Garlsen, Inc., San Diego.
due
Aug. 22,
in-Colorado, California and other states. Proceeds
—For
Co., Inc., N. Y;
Kaiser
filed" l"5u,000'common snares. Price—$3.50/
The
—
Proceeds—For
instruments
Offering—Expected in November.
Bowling Corp., (11/14)
July 25, 1961
.
Price—$5.
products and repayment of loans; Office—20 Madi¬
Ave., Hicksville, N. Y. Underwriter—General Securi¬
N.Y. Underwriter—Mortimer B. Burnside &
selling stockholders. Office — 45-17 Pearson St., Long
Island City, N. Y. Underwriters—C. E. Unterberg, Towbin Co., and Arnhold & S. Bleichroeder, Inc., N. Y. Of¬
fering—Expected in late December.
;/77!
•
communication.
electronic
of
* v
ceeds—For
Julyn Sportswear, Inc.
Sept. 7, 1961 filed 125,000 class A. Price—$5. Business—
The manufacture of maternity clothes and sportswear.
Proceeds—For working capital. Office—237 W. 35th
St.,
The wholesale distribution of photographic
, and
supplies. Proceeds—For the
Business
manufacture
.
ment.
/.v7://';v 7-/ /l/
/:
common.
.•
t
Price—By amend¬
ing
Office—
&
*
Sept. 27, 1961 filed 100,000
Business—Manufacture and sale of greeting cards,,
Proceeds—For repayment of loans, expansion and work¬
15th St.; Patersony N. J.—Underwriter—Theodore
known
and
capital.
Business—The manufacture of
specialty hardware
items., Proceeds—For the selling stockholders. Office^— /
658. Richmond St* Nw W. Grand Rapids, Mich. Under¬
writer—Glore, Forgan & Co., N. Y. (mgr.).
Knickerbocker Toy Co., Inc.
'
Septt
Rd., Overland Park, Kan. Underwriter—George
Co., Kansas City, Mo.
-
ment.
Co., Inc., Norfolk, Va.
,
Office—8788,'
purposes.
ment.
Jorn's
:
.
/
,
,
See
•
corporate
•
Knape & Vogt Manufacturing Co. (11/20)
Sept. 11, 1961 filed 263,750'common. Price—By amend-,
Address—Box 7, Casselberry* Fla,
Underwriter—Warner, Jennings, Mandel & Longstreth,
glewood, N. J". Underwriter—M. H. Woodhill Inc., N. Y.
Offering—Imminent; /
,//,:/ ■,:
/< /'•' '••/; <;-• •/ "/ /■"" /■'. h-*-;:
other
K. Baum &
electronic
Philadelphia.
.
for
and
125,000,
filed
military market.
Intercontinental Dynamics Corp.
July 18, 1961 ("Reg; A")",200,000 common: Price—$1.50.
Business—Manufacture of. • electronic and '* elcetro-me-'
Ave., Chicago. Un«
derwriter—Paul C. Kimball & Co., Chicago.
Proceeds—For organiza¬
Electronics, Inc.
1961
amendment.
Co., N. Y.
writer—J. B. McLean &
rate purposes. Office—2557 W. North
Underwriter—None.
automatic
Proceeds—For
machines.
N. Y.
Naaier
sells
and
general corporate
Ave.,
Price—$4.25.
common.
organization of the Jefferson Growth
diversified investment com--
a new open-end
of the management type.
pany
Oct. 25, 1961 filed; 90,000
ness—Designs,
develops,
the
sponsor
Funa, Inc.,
(2103)
;
^ Lehigh Press, Inc.
Nov. 3, 1961 filed 155,000 common, of which 45,000 are
to be offered by the company and 110,000 by stockhold¬
ers.
Price—By amendment
Business—A commercial
printer.
Proceeds—For a new plant, moving expenses
and
equipment Office—2400 E. Huntingdon St., Phila¬
delphia. Underwriter—Harrison & Co., Philadelphia.
Leslie (Joyce) * Inc.
Sept. 28, 1961 filed 100,000 common. Price—$5.50. Busiw
ness—Retailing of women's apparel. Proceeds—For ex¬
pansion, inventories and working capital. Office-—850-
Proceeds—
Continued
on
page
40■
40
Continued from
Flatbush
nard &
The Commercial and Financial Chronicle
(2104)
and one warrant. Price—By amendment. Business—
Development of residential communities. Proceeds—For
mon
39
page
Underwriter—Seymour, Ber¬
Ave., Brooklyn.
DuBoff, Inc., N. Y.
Libby International Corp. (ll/20?24) Aug. 3, 1961 ("Reg. A") 100,000 common shares (par 10
cents). Price—$3. Business—The distribution of tractors
and farm equipment manufactured by Kramer-Werke, a
German company.
Proceeds — For repayment of loans,
inventory and working capital. Office—325 W. Houston
Street, New York. Underwriter—Tau Inc., New York.
Liberian American-Swedish
Sept.
14,
1961
debentures
filed
to
African
International
of
American
Latter stockholders will receive Class C rights to
the
debentures
Corp.
acquire
and
176,145 of Liberian Iron Ore Ltd.,
parent, in units, each consisting of $100 of debentures
and 3 Liberian Iron Ore. Price—$104 per unit. Business
—The commercial exploitation of iron ore deposits in
Liberia. Proceeds—For the selling stockholder. Address
—Monrovia, Liberia. Underwriter—None.
Liberian
E. Broadway,
Co., N. Y. (mgr.).
M
I
P
Glass
stock (par one
ness—The manufacture
common
material
be
to
rocket motor
in
used
Industrial
named
•
Note
named.
be
This
—
Proceeds—
cases.
For expenses, equipment and working
1025 Shoreham Bldg., Washington, D.
capital. Office—
C. Underwriter
formerly was
company
Materials, Inc. Offering—In
Business—Book and
Proceeds—Debt repayment, mov¬
ing expenses and working capital. Office—205 E. 42nd
St., N. Y. /Underwriters—First Broad Street Corp. and
Lieberbaum & Co., N. Y. Note—This .registration will
1971.
Price—At par.
magazine publishing.
•*
-
•
,
1
stockholder. Business—A holding
Liberian American-Swedish
ucts
Macoid
1961
for the
gaged in the exploitation of iron ore deposits in Liberia.
automobile, electrical utility and telephone
working capital.
Office—
industries.
Address—Prince Edward Island, Canada.
12340
•
;
Lido Corp.
•.
•
Underwriter—
■
.
&
(12/4-8)
Aug. 29, 1961
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
March
Price
Fund,
1961
30,
—
Business
filed
A
—
951,799
open-end,
For investment. Office—300 Main
Lincoln
Oct. 31,
ment.
Income
Insurance Co.
Life
Business—A
life
1981.
time accounts.
poses.
insurance
Proceeds
—
For general corporate pur¬
Office—Roosevelt Field, Garden City, ,N. Y. Un¬
Lehman Brothers and Goldman, Sachs &
derwriters
—
Magazines For Industry,
—
company.
By amend¬
Proceeds—
For the selling stockholder. Office—Louisville, Ky. Un¬
derwriters—J. C. Bradford & Co., Nashville, Tenn. and
(11/13-17)
Inc.
Aug. 2, 1961 filed 135,000 "common shares. Price — By
amendment. Business—The publishing of business pe¬
riodicals. Proceeds—For promotion, a new publication
and
Ave., New
Underwriter—S. D. Fuller & Co., N. Y. (mgr.)
capital.
working
York.
St., New Britain, Conn.
Management Corp., New York.
filed 45,000 common. Price
1961
management-
whose primary investment ob¬
appreciation and, secondary, income
sale of put and call options. Proceeds—
Distributor—Horizon
(11/14)
filed $20,000,000 of debentures due Dec. 1,
Price—By amendment. Business—Financing of cash
Co., N. Y.
of common stock
7% selling commission.
company
derived from the
Cloverdale, Detroit. Underwriters—Charles Plohn
Co., N. Y. and Edwards & Hanly, Hempstead, N. Y.
Oct. 25, 1961
shares
non-diversified,
capital
is
common.
(11/20-24)
Net asset value plus a
type investment
jective
Inc.
Proceeds—For
Macy Credit Corp.
("Reg. A") 84,000
Office—660
Madison
Mainco Electronics & Marine Development Corp.
Oct. 13, 1961 ("Reg. A") 75,000 common.
ness—Manufactures electronic marine
Price—$4. Busi¬
equipment
and
marina. Proceeds—Plant construc¬
tion, research and development and working capital.
Office
Boothbay Harbor, Me. Underwriter — NanceKieth Corp., N. Y.
yachts and operates
Lincoln
& Co., Louisville, Ky.
Proceeds—For
Life
Insurance
selling stockholders. Office—1518 Milam
St., Houston. Underwriter—Bache & Co., N. Y.
Lomart Perfected
Devices, Inc.
Sept. 14, 1961 filed 100,000 common. Price—$5. Business
manufacture of pool filters and accessories and
~-The
tools, dies, metal stampings, etc. Proceeds—For moving
expenses, purchase of equipment, promotion of a new
product and working capital. Office—199 Bleecker St,
Brooklyn, N. Y. Underwriter—None.
•
Longs Drug Stores, Inc. (11/14)
Aug. 24, 1961 filed 190,000 outstanding common. Price—
By amendment. Business—The company operates a chain
of drug stores in California and Hawaii. Proceeds—For
the selling stockholders. Office—5301 Broadway, Oak¬
land, Calif. Underwriter—Merrill Lynch, Pierce, Fenner
& Smith Inc. N. Y. C. (mgr.).
Louis Sherry Preserves, Inc. (11/27-12/1)
Sept. 21, 1961 filed 200,000 common. Price—$4. Business
—Manufacture of fresh fruit preserves and jellies.
Pro¬
ceeds—Plant expansion, advertising, repayment of debt,
and working capital. Office—30-30 Northern Blvd., Long
Island
N. Y.
City, N. Y. Underwriter—Stanley Heller & Co./
.
.
■/,.
•
Lunar Enterprises, Inc.
(11/20-24)
filming
and production and working capital. Office—
Broadway, N. Y. Underwriter—Ehrlich, Irwin &
Co., Inc., 50 Broadway, N. Y.
1501
Lundy Electronics & Systems, Inc.
Sept. 19, 1961 filed 175,000 common. Price—$4. Business
—The manufacture of electronic, electro-mechanical and
hydraulic systems for aircraft, missiles and space ve¬
hicles.
Proceeds—For
N. Y.
and
(12/4-8)
research
working
and
capital.
development, sales
Office—Glen
Underwriter—Michael G. Kletz &
•
Head,
Co., Inc., N. Y.
Lusk Corp. (11/20-24)
Aug. 30, 1961 filed $1,250,000 of 6%% convertible sub¬
ordinated debentures due 1971, 200,000 common and 5year warrants to purchase 50,000 common to be offered
in 50 units each consisting of $25 of
debentures, 4 com-1;
ing
Proceeds—Advertising sales, promotion,
Office—2450 Estes
Grove Village, 111.
Underwriter—Arnold
machines.
products
Elk
and working caiptal.
Co., Inc., N. Y.
if- Matrix Corp.
Oct. 20, 1961 ("Reg. A")
Proceeds
—
60,000 common." Price
consultative
—
$5.
research services.
and
of teaching machines and
For development
working capital. Office—507 18th St., S., Arlington, Va.
Underwriter—Mackall & Coe, Washington, D. C.
Maxam, Inc.
Oct.
1961
26,
shares
to
are
200,000
filed
be
of which
common,
by
offered
the
100,000
and
100,000
company
stockholders. Price—By amendment. Busi¬
ness—Operation
of self-service discount
department
stores. Proceeds—For debt repayment and working cap¬
shares
by
Hyde Park Ave., Roslindale, Mass. Un¬
ital. Office—525
derwriter—McDonnuell & Co., Inc., N. Y.
Mayfield Engineering Co.
("Reg. A") 300,000 common. Price—$1. Pro¬
equipment, debt repayment and working
Office—330 W. Costilla St., Colorado Springs.
Oct. 5, 1961
ceeds—For
capital.
Underwriter—Amos C. Sudler & Co., Denver.
Measurements
Inc.
Spectrum,
("Reg. A") 56,000 common. Price—At par
($5).
Proceeds—For equipment, debt repayment and
working capital. Office—815 S. Fremont Ave., Alhambra, Calif. Underwriter—Adams & Co., Los Angeles,.
Oct.
9, 1961
Medex, Inc. (12/11-15)
Sept. 27, 1961 filed 110,000 common.
ment/ Business—Development- and
—For
Office—1488 Grandview Ave.,
ital.
Price—By amend¬
manufacture of a
supplies. Proceeds
construction, inventory, research and working cap¬
line of hospital and surgical
limited
Inc., N.
derwriter—Globus,
Columbus, Ohio. Un¬
Y.
Medical
Oct.
Fund, Inc.
1961 filed 2,000,000 capital shares.
26,
Price—$10.
(with a warrant to purchase one com¬
mon
share at $4) and 50 common shares/ Price—$300
per unit.
Business—Consumer finance.
Proceeds—For
working capital. Office—912 Thayer Ave., Silver Spring,
Md. Underwriter—Manhattan Eastern Corp., N. Y. (mgr.)
•
Malone
&
Hyde, Inc.
(11/20-24)
filed 275,000 common, of which 100,000
are to
be offered by the company and 175,000 by the
stockholders. Price—By amendment. Business—The pro¬
curement, warehousing and sale of groceries, meats,
produce, etc., to retail grocers. Proceeds—For working
capital. Office—1700 Dunn Ave., Memphis, Underwriter
—Equitable Securities Corp., Nashville (mgr.).
Sept.
1,
1961
Mann
Sept.
Research
21,
1961
Business—Sale
Laboratories,
Proceeds—For
new
&
equip¬
capital. Of¬
quarters,
a laboratory, inventories and working
fice—136 Liberty St., N. Y. Underwriter—L.
ment,
D. Sherman
industrial
applications. Proceeds — Repayment of
debt, equipment research and development, and work¬
ing capital. Office—375 Fairfield Ave., Stamford, Conn.
Underwriter—Amos Treat &. Co., N. Y. Offering—In
late
Dynamics Inc.
Aug. 28, 1961 filed 125,000 common. Price—$2.50. Busi¬
,
manufacture
of
mechanical
and
electro-me¬
chanical
components. Proceeds — For equipment and
working capital. Office—920 S. Oyster Bay Rd., Hicksville, N. Y. Underwriter—Paul Eisenberg & Co., N. Y. C.
Markite
Corp.
1961 filed 100,000 common. Price—By amend¬
Business—Development, design, manufacture and
26,
ment.
precision electromechanical devices. Proceeds—
For debt repayment and working capital.
Office—155
Waverly Place, N. Y.
Underwriter—C. E. Unterberg,
Towbin Co., N. Y.
sale
of
Marks
Polarized
serving
modern
investment
closed-end
—A
Inc.
Price—$10.
1961 filed 25,000 common.
company
Business
plans
which
to
Proceeds—For investment in the
medical industry and capital growth situations.
Office
—677 Lafayette St., Denver. Underwriter—Medical As¬
sociates, Inc., Denver.
become
•
open-end.
Meehan-Tooker Co., Inc.
(11/27-30)
Sept. 8, 1961 filed 100,000 common.
—The
Price—$5.
Business
printing of advertising material, annual reports,
etc., by offset lithography. Proceeds—For the
booklets
purchase of
a
high-speed
establishment of
Office—170
a
new
Varick
press,
the repayment of debt,
department, and working capital.
St.,
N.
Underwriters—Harry
Y.
Co., N. Y. and Bruno-Lenchner, Inc., Pittsburgh.
Mercury Photo Corporation
(12/18-22)
Sept. 26, 1961 filed 100,000 class A. Price—$5. Business
—Processing and wholesaling of photographic film, etc.
Proceeds—For expansion, equipment, and working cap¬
ital. Office—275 Clinton Ave.,' Newark, N. Y. Under¬
Securities Co.,- S. Kasdan & Co., Inc.,
C., and Dual Planning Corp., Garden City, N. Y.
Merit Associates, Inc.
Sept. 5,. 1961 ("Reg. A") 75,000
Business—Plastic
fabrication.
common.
Price
Proceeds—For
—
debt
$4.
pay¬
ment, equipment, advertising and working capital. Of¬
fice—3 Sidney Court, Lindenhurst, N. Y. Underwriters
—M. Posey Associates Ltd., and Alkow & Co., Inc., N. Y.
•
December.
March
Oct.
—
Medical Industries Fund,
Oct. 23,
N. Y.
Inc.
Laboratories,
Sept. 26, 1961 filed 200,000 common. Price—$5. Business
manufacture of equipment for military
and
firms
in
New
York, N. Y. Underwriter—
Fleetwood Securities Corp. of America, 44 Wall St., N. Y.
Address
writer—General
Co., N. Y.
Manson
investment
Proceeds—For
Odzer
Inc.
("Reg, A") 100,000 common. Price—$3.
of scientifically tested biochemicals and
pharmaceuticals.
Business—A closed-end diversified investment company.
medicine.
$100 debenture
ness—The
Aug. 31, 1961 filed 125,000 common. Price—$5.75. Busi¬
ness—The production of television films. Proceeds—For
promotion
Finance Corp.
Major
Aug. 18, 1961 filed $200,000 of 7% senior subordinated
debentures due 1971 (with attached warrants) and 100,000 common shares to be offered in units consisting of
—Research and
Ludwig Engineering & Science
Oct. 5, 1961 filed 125,000 common.
Price—By amend¬
ment.
Business—Renders
engineering and research
services. Proceeds—For equipment, debt repayment and
working capital. Office—150 E. Foodhill Blvd., Arcadia,
Calif.
Underwriter—Dempsey-Tegeler & Co., Inc., St.
Louis. Offering—Expected in late November.
Business—Manufacture
Price—$3.50 per unit.
cutters and trimmers, paper folding machines,
photographic dark room accessories and envelope open¬
paper
—
•
Co. (11/13-17)
Sept. 15, 1961 filed 200,000 common. Price—By amend¬
ment. Business—The writing of ordinary life insurance.
Liberty
0.4 share.
of
a
„
W. L. Lyons
Sept. 27, 1961 filed 100,000 common (with attached threeyear warrants to purchase 40,000 shares at $5, to be of¬
fered in units of one share and a warrant to purchase
Business—Furnishes
28,
100,000 common. Price — $3.
rectifiers, regulators, thermo¬
Ave., Newark, N. J. Underwriter—Richard
Co., Inc., N. Y.
Bruce &
payment of loans, equipment, new products,
Sept.
of
—54 Summer
Malkan &
Industries, Inc. (12/4-8) ;/
filed 300,000 common, of which 100,000
are to be offered by the company and 200,000 by stock¬
holders.
Price—$5. Business—Molding of plastic prod¬
None.
("Reg. A")
1961
couple tubes, and thyratrons. Proceeds—For expansion;
research and development, and working capital. Office
Ave.,
to acquire 176,145 shares and
Liberian American-Swedish
company for stock of
Minerals Co., which is en¬
1,
Business—Manufacture
July 20, 1961 ("Reg. A") 150,000 common shares (par one
cent). Price—$2. Business—The distribution of health,
exercise and slenderizing equipment. Proceeds—For re¬
sales pro¬
motion and advertising, plant removal and working cap¬
ital. Office—189 Lexington Ave., N. Y. 16, N. Y. Under¬
writer—Continental Bond & Share Corp., Maplewood, N.J.
Offering—Expected sometime in Nov.
$5,871,500 of debentures of
Minerals Co.,
subsidiary,
in units, each consisting of $100 of debentures and three
Liberian Iron shares. Price—Class A—$10; Class B—
$15.85; Class C—$104 per unit. Proceeds—For the selling
(11/27-12/1)
Marshall Electronics Co.
ISTov.
new
<
MacLevy Associates, Inc.
Iron Ore Ltd.
Sept. 14, 1961 filed 436,327 capital shares to be offered
for subscription by stockholders of International African
American Corp. Latter stockholders will receive class A
rights to acquire 40,000 capital shares on the basis of
one for each 22 held;
class B rights to acquire 220,182
on the basis of one for each four held; and class C rights
Industries Corp.
Marlene
Martin Yale Business Machines Corp.'
Publications, Inc.
Sept. 28, 1961 filed $5,300,000 of convertible subord. de¬
bentures due
Thursday, November 9, 1961
.
Aug. 29, 1961 filed 225,000 common, of which 150,000 are
to be offered by the company and 75,000 by stockholders.
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.
Dec.
Macfadden
be refiled.
'
Fibers, Inc.
(letter of notification) 150,000 shares of
cent). Price—$2 per share. Busi¬
of a new patented fiber glass
April 27, 1961
—To
of 4.167% subordinated
be offered for subscription by
$5,871,500
1985
due
stockholders
Minerals Co.
Office
Tucson. Underwriter—Burnham &
working capital and general corporate purposes.
—6910
•
.
.
Corp.
27, 1961 filed 95,000- common shares. Price — By
amendment. > Proceeds— For expansion, acquisition of
new facilities and other corporate purposes. Office™153-
Metal Bellows Corp. (11/20-24)
Sept. 1, 1961 filed 140,000 common, of which 120,000 are
to be offered by the company and 20,000 by a stock¬
holder. Price—By amendment. Business—The manufac¬
ture of welded
diaphragm bellows.
ing
equipment,
Proceeds—For
mov¬
research and development,
repayment of debt and working capital. Office—27 Mica
Lane, Wellesley, Mass. Underwriter—Estabrook & Co.,
expenses,
Boston.
^
Metallurgical
International,
Inc.
Sept. 26, 1961 filed 145,000 class A. Price—$3. Business
—Reprocessing and manufacturing of rare refractory
metals. Proceeds—Repay debt,
taxes, purchase equip¬
ment, and working capital/Office—174 Main Ave Well¬
ington, N. J. Underwriter—Mortimer B. Burnside'& Co.,
June
16 Tenth Ave., Whitestone, N. Y. Underwriters—Ross,
Lyon & Co., Inc. (mgr.), Glass & Ross, Inc., and Globus,
Inc., N. Y. C.i
•
Metalfab,
Oct. 27, 1961
Inc.
filed $600,000 of 6% s. f. conv. debentures
100,000 common (of which 20,000 shares
are to be offered by the
company and 80,000 by stock- 1
holders).
Price: By amendment-...,; Business—-Manufadrrdue
1976
and
Volume
194
Number
6106
.
.
The Commercial and Financial Chronicle
.
1
(2105)
tures
products
trical
and
industries..
working
capital;
parts
of
the
automotive
Proceeds—For
debt
Office—First
and
and
elec¬
repayment
Cleveland
;
'
Metatronics
of
common.
electronic
Price—$2. Business
and
cases
containers, and
precision sheet metal products. Proceeds—For debt re¬
/V.'V/
Miss
Oct.
7
Metropolitan Acceptance Corp.
1961 filed $300,000 of 6% subordinated convert¬
and
60,000
shares to be
common
Business
of women's
offered
in units
consisting of $100 of debentures and 20 common
shares. Price—$150 per unit. Business—Financing of re¬
tail
sales.
Western
Baruch &
•
Mobile
Proceeds—For
Ave.,
working-capital. Office—5422
Chase, Md. Underwriter — R.
Chevy
June
Co., Washington, D. C.
1961
filed
240,000 common,
ment
Co., N. Y.
•
missiles.
Proceeds—For
minent.
20-24)
building
improvements,
capital.
Office—640
—S. Schramm
Middle
June
22,
Investment
Co.
filed 70,000 common
investment company.
Business—An
States
Telephone
Co.
working
27,
1961
amendment.
struction.
filed
75,000
cum.
Proceeds—For
Price—$10.
Proceeds—For in¬
Office—144 S.
writer—Dean
Witter
&
•
Under¬
14,
1961
amendment.
Business
A
—
Proceeds—For
company.
National
filed
small
business
investment.
•
Denver
Co.
&
and
investment
1961
filed
200,000
nance
rate
D.
C.
Underwriter—Affiliated
Underwriters
Co., Inc.,
Price—$2.
components, assemblies for aircraft, armaments,
computers, floor waxers and industrial vacuum cleaners.
of
loans
and
research
working
and
th
of
invest
development,
capital.
Office
—
9
Office—Time and Life
repayment
of
—
Trust
By
automobile parts.
First
in
N.
•
NAC
Haupt & Co.,
Ill Broadway,
Nationwide
shares. Price
products. Proceeds—For, a new plant,-leasehold
plant improvement and working, capital. OfLce—
Lawrence
St.
Tacoma,
"
-
Wash/ -Underwriter—
/
I
Newark, N. J. Underwriter—Warner, Jennings, Mandel
& Longstreth, Philadelphia.
• Natural Gas
Pipeline Co. of America (11/16)
Oct.
State.
27, 1961 filed 100,000 cum. preferred shares.
—By amendment. Proceeds
Proceeds—General
corporate
purposes.
Office—122
So.
Price
For debt repayment and
—
Michigan
Ave.,
Chicago.
Underwriter—Dillon, Read & Co., Inc., N. Y.
•
Natural
Oct.
Gas
Pipeline Co. of America
(11/16)
27, 1961 filed $15,000,000 of debentures due Nov. 1,
1981.
amendment. Proceeds—For debt re¬
Office—122 So. Michigan Ave.,
Underwriters—Dillon, Read & Co., Inc. and
Price—By
payment and expansion.
Chicago.
New Campbell
to
Of¬
Island Mines Ltd.
13, 1961 filed 475,000 common, of which 400,000 are
be
offered
holder.
ment
by
the
Price—50c.
and
mining.
and 75,000 by a stock¬
Business—Exploration,
develop¬
company
Proceeds—General
corporate pur¬
Under¬
Office—90 Industry St., Toronto, Canada.
writer—A. C. MacPherson & Co., Toronto.
poses.
New West Land
Corp.
June
30, 1961 ("Reg. A") 200,000 common shares (par
$1). Price—$1.50. Proceeds—For repayment of notes and
acquisition of real estate interests. Office—3252 Broad¬
way, Kansas City, Mo.
Underwriter — Barret, Fitch,
North & Co., Kansas City, Mo.
v
;
•
Narrows Premium Corp.
Sept. 25, 1961 filed 100,000 common. Price—$4. Business
—Financing of casualty insurance premiums in New
York
Bowling Corp.
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.,
Halsey, Stuart & Co. Inc., N. Y.
of food
S.
inventory, advertising and working capi¬
Lexington Ave., N. Y. * Underwriter—
Coast Securities Co., San Francisco. Offering—•
expansion.
Nalley's, Inc. (12/4-8)
9, 1961 filed 210,000 common,/of which 130,000 are
to be offered by the company and 80,000 by stockhold¬
ers.
Price—By amendment. Business—The ^production
Blyth & Co., Inc., N. Y;
Underwriter—Frank
Oct.
Oct.
3410
Office—52
purposes.
Expected sometime in December.
Oct.
common
Ave.,
Office—420
Pacific
Charge Plan and Northern Acceptance Corp.
1961 filed 33,334 class A
amende ent. Proceeds—For
Yonkers, N. Y.
Co., Inc., N. Y. (mgr.).
&
National
tal.
working capital. Of¬
fice—16 East Pleasant St., Baltimore, Md. Underwriter
—Sade & Co., Washington, D. C. (mgr.)
-
Casimer
Proceeds—For
|
Sponsor—Ira
Business
Vended Ski Insurance Corp.
30, 1961 filed 550,000 common. Price—By amend¬
ment.
Business—Distribution
of
coin-operated insur¬
ance
vending machines to brokers at sporting centers.
Pa.
C.
Price—$3.
Oct.
tax-exempt bonds of the Common-
Y.
common.
ing capital and general corporate
Karasik
and
Fund,
Tel-Tronics Corp.
—The manufacture of electronic components. Proceeds—
For repayment of a loan, expansion, new products, work¬
Pennsylvania
Broadway,
and
cision
Proceeds —For, equipment,
will
—By
>
Aug. 15, 1961 ("Reg. A") 170,000 class A shares (par 10
cents).> Price—$1/ Business—The manufacture5 of pre¬
repayment
debt
June 27,
St., N. W., Washington,
Underwriters, Inc.
Components, Inc.
National
St.
Price
(11/16-17)
parts. Office—136 Liberty St., N. Y. Underwriter—Marron, Sloss & Co., Inc., N. Y. Offering—In late December.
i.
For
Investment
Busi¬
ment. Business—Wholesaler and distributor of electronic
Me!o
working capital.
Underwriter—Berger-Derman, Inc., N. Y.
Sept. 11, 1961 filed 133,000
Inc.
class A shares.
Underwriter—Amos Treat & Co., Inc., N. Y.
MFgray Electronics, Inc.
Sept. 26, 1961 filed 166,667 common. Price—By amend¬
v
120,000
Murray Magnetics Corp. (11/27-12/1)
Aug. 15, 1961 filed 150,000 common shares. Price—$6.
Business—The financing, exploitation and sale of a new
line of electric kitchen and household appliances. Pro¬
ceeds—For the purchase of inventory, sales promotion
and working capital. Office—230 Fifth Ave., New York.
in the commercial fi¬
Proceeds—General corpo¬
Office—1730 ,K
—
investment.
engage
and factoring business.
purposes.
Industries,
filed
N. Y. C. Offering—Expected in early 1962.
•
common.
Price—$4,
lumber, building supplies and hard¬
—
Bosworth, Sullivan &
ness—Company plans to
Inc.
common.
Municipal Investment Trust Fund, Series B
April 28, 1961 filed $12,750,000 (12,500 units) of interests.
Price
To be supplied by amendment. Business — The
fund will invest in tax-exempt bonds of states, counties,
municipalities and territories of the U. S. Proceeds—For
(co-mgrs.). Offering—Imminent.
16,
Co.,
75,000
(11/27-12/1)
Ill
First
Midwestern Investment Corp.
Oct.
agency.
Proceeds—For general
Office—4539 Ponce de Leon Blvd.,
'National Systems Corp.
--c.
Sept. 28, 1961 ("Reg. A") 70,000 capital. Price—$4.^Proceeds—For
equipment, improvement of t a TV repair
course
and working capital. Office-—1036
S. La Brea
Ave., Los Angeles. Underwriter—Gregory-Massari, Inc.,
Beverly Hills.
and its political sub-divisions.
Proceeds—For investment.
Sponsor—Ira Haupt & Co.,
manufacturing xompany, a small business
company, etc.
Proceeds—For repayment of
Office—2011-13th St., Boulder, Colo.
of
Mfg.
Municipal
wea
Price—By
•
debt.
A")
Series
Md western Financial Corp.
Aug. 28, 1961 filed 260,000 common, of which 75,000 are
to be offered by the
company and 185,000 by stockhold¬
ers.
Price—By amendment. Business—A holding com¬
pany for savings and loan associations, mortgage com¬
—Boettcher
Clearing House, Inc.
A") 75,000 common. Price—$4.
• National Semiconducter
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 & Hopwood, Minneapolis (mgr.).
April 28, 1961 filed $6,375,000 (6,250 units) of interests.
Price—To be supplied by amendment.
Business—Tne
drawn.
a
Bldg., N. Y.
working capital.
Office—900-908 S. Oyster Bay Rd., Hicksville, N. Y. Un¬
derwriter—Street & Co., Inc., N. Y. Offering—In Jan.
Bank
investment
&
("Reg.
Parts
1961
Proceeds
Bldg., Minneapolis. Underwriters — Lee
Higginson Corp., New York and Piper, Jaffray & Hopwood, Minneapolis. Note—This registration was with¬
panies,
30,
fund
Office—2615
of debt and for
Bldg., Main St., Freehold,
Co., New York.
amendment. Business—Distribution
Midwest Technical
July
Lumber
1961
Motor
Oct.
Budget & Loan Corp.
Sept. 12, 1961 filed $300,000 of 6% subordinated deben¬
tures due Aug. 1, 1973 to be offered in units of $500
and $1,000. Business —
Purchasing of conditional sales
contracts. Office—5806 W. Burleigh St.,
Milwaukee, Wis.
Underwriter—The Marshall Co., Milwaukee.
Development Corp.
800,000 common shares.
("Reg.
collection
Recreation Corp.
27, 1961 filed 337,500 common. Price—$8. Busi¬
ness—Operates a national chain of bowling centers. Pro¬
ceeds—For the acquisition of new
centers, repayment.,
ware. Proceeds—To
repay loans and for working capital.
Address—Monticello, N. Y. Underwriter—J. Laurence &
Co., Inc., N. Y.
Midwest
•
11,
Business—Sale
Price—By
and con¬
12th St., Lincoln, Neb.
Co., San Francisco.
1961
National
Electric
Montvcello
April
Illinois
repayment
23,
«
(11/20-24)
preferred.
debt
National Mercantile
Sept.
equipment. Proceeds — Machinery,
repay loans and working capital. Office—1802 Corliss
Ave., Neptune, N. J. Underwriters—Cruttenden, Podesta
& Co., Chicago and Spear, Leeds &
Kellogg, N. Y.
(11/27-30)
Oct.
Bank
equipment,
Miami, Fla. Underwriter—Armstrong & Co., Inc., N.Y.
Offering—Expected sometime in January.
electro-mechanical
Underwriter
shares.
of
For
Office—1622 Chestnut
corporate purposes.
Co., Inc.
(11/27-12/1)
Aug. 28, 1961 filed 200,000 common, of which 125,000 are
to be offered by the company and 75,000
by stockhold¬
ers. Price—$6. Business—Manufacture of electronic and
and
Middle
materials.
a new product and working
Clifton Blvd., Clifton, N. J. Under¬
National
Monmouth
working' capital. Address—Elkins Park,
Underwriter—Best & Garey Co., Inc., Wash., D. C.
Pa.
insulation
equipment,
N. J. Underwriter—Meade &
& Co., N. Y.
Atlantic
1961
vestment
and
St., Brooklyn.
electrical
•
Mon-Bak Feed
Office—First
Proceeds—For
equipment
new
Dean
—
Oct.
Capital Corp.
(11/13)
Aug. 1, 1961 filed 200,000 shares of capital stock. Price—
$10. Business — A small business investment company.
Price—$4.
common.
film.
common. Price—$6. Pro¬
inventory and operating ex¬
St., Philadelphia. Under¬
writer—Mayo & Co., Inc., Phila. Offering—Imminent.
ceeds
filed
and
Co., Inc. and
Industries, Inc.
Aug. 28, 1961 ("Reg. A") 50,000
be offered
electronic
&
National
Monmouth
Plastics
50,000
Row, N. Y. Underwriters—Edward Lewis
Underhill Securities Corp., N. Y.
—Wilson, Ehli, Demos, Bailey & Co., Billings, Mont...
—
plastic
Hospital Supply Co., Inc. (11/20-24)
22, 1961 ("Reg. A") 100,000 common. Price—$3.
Business—Distribution of medical supplies. Proceeds—
For inventory, advertising and
promotion, expansion, re¬
payment of loans and working capital. Office—38 Park
Dielectrics,
1961
Pa.
June
Business—A
1,
to
ex¬
National
Lot, Inc. (11/20-24)
July 17, 1961 filed 150,000 common shares. Price—$3.
Business—The breeding of livestock owned by others.
Proceeds—For drilling of water test wells, purchase of
land, construction,
general administrative
costs
and
working capital. Address—Glendive, Mont. Underwriter
Corp.,
New
(managing); Bioren & Co., Boenning & Co., Phila¬
delphia, Chace, Whiteside & Winslow, Inc., Draper, Sears
& Co.; and Schirmer, Atherton &
Co., Boston.
of
:
penses.
•
York
Sept. 15, 1961
Business—Manufacture
stores.
Proceeds—For debt
repayment, store
pansion and working capital. Address — Portage,
Underwriter—Cortlandt Investing Corp., N. Y.
\
writers—Street & Co., Inc. and Irving Weis & Co., N. Y.
educational field and the manufacture of electronic and
micro-wave components. Proceeds—For expansion and
working capital. Office—55 Ninth St., Brooklyn, N. Y.
Underwriters
Manufacturers
Securities
Corp.
("Reg. A")
ated
Price—$6.
and
capital. Office—101
July 28, 1961 ("Reg. A") 100,000 common shares (par 20
cents). Price—$3. Business—The development and man¬
ufacture of language laboratories for
the electronics
Micron
debt,
Proceeds—For
;
(11
shares.
perature
tooling
Securities Corp., N. Y. Offering—Im¬
Micro-PrecisSon Corp.
common
Rentals
of
Sept.
production; repayment of loans; equipment; adver¬
tising; research and development and working capital.
Office—19 Debevoise Avenue,
Roosevelt, N. Y. Under¬
•
;
_
Office—26
Molecu'ar
are
and
writer—Underhill
Washington, D. C.
Equipment & Plastics Corp.
Sept. 28, 1961 filed 105,000 common. Price—$5. Business
—Operation of a cleaning and pressing plant and affili¬
National
Inc.
(11/27-12-/1)
150,000 common, of which 135,000
by the company and 15,000 by Cardia
Co. Price—$5. Business—The manufacture of
high-tem¬
12, 1961 ("Reg. A") 55,000 common shares (par 10
cents). Price—$4. Business—The manufacture and de¬
sign of potentiometers used in computers, ground control
and
Inc.
140,000
Priee
Guardian; Investment Corp.,
-
working capital.
Office—8472 S.
Figueroa St., Los Angeles. Underwriters—Kleiner, Bell
& Co., Beverly
Hills, Calif, and Hardy & Co., N. Y.
June
systems
filed
common.
—$2. Business—Purchase of second trust notes and other
securities. Proceeds—For
working capital. Office—8719
—Colesville
Rd.,
Silver
Spring, Md. Underwriter—
Corp.
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 of trailers.
Proceeds—For
expansion, repay¬
Micro-Lectric, Inc.
guidance
Estates,
1961
Mobile
lays, etc. Proceeds—For the purchase of Grow Solvent
Co., Inc., and for working capital. Office—Ames Court,
Plainview, N. Y. Underwriters—M. L. Lee & Co., and
&
27,
Dalbert, Carteret, N. J. Underwriter—Harry Odzer Co., N. Y. Offering—In late Dec.
of which 225,000
will be sold for the
company and 15,000 for a stockhold¬
er.
Price—By amendment. Business—The manufacture
of communications
equipment, transformers, filters, re¬
Milton Blauner
common.
dresses.
ing capital.
(12/4-8)
15,
• National Capital Acceptance Corp.
Oct. 20,' 1961 ("Reg.
A") 150,000 class A
Price—By amend¬
Design, manufacture and distribution
—
1961
—
Proceeds—To purchase land, construct and
develop about
250 mobile home sites, form sales agencies and for work¬
Metropolitan Telecommunications Corp.
Sept.
Bowling Lanes, Inc. (12/4-8)
filed 150,000 capital shares. Price—$5.50.
Business—The operation of
bowling centers. Proceeds—
For expansion, repayment of
loans, and working capi¬
tal.
Office
220 S. 16th Street,
Philadelphia.
Under¬
writer—Edward Lewis & Co.,
Inc., New York.
Un¬
Proceeds—For debt repayment, in¬
ventory and expansion. Office—1919 S. Los Angeles St.,
Los Angeles. Underwriter—F. L. Rossmann &
Co., N. Y.
Offering—Expected in late November.
Oct. 2,
1967
Broadway, New York 7, N. Y.
Elliette, Inc.
1961 filed 100,000
10,
ment.
ibles due
Office—225
poses.
National
July 21,
derwriter—Pine Tree Securities, Inc., N. Y.
payment, and other corporate purposes. Office — 111
Bloomingdale Rd., Hicksville, N. Y. Underwriter—Frank
Karasik & Co., N. Y.
fice—9805 Fourth Ave.,
Brooklyn, N. Y. UnderwriterPearson, Murphy & Co., Inc., N. Y.
Minuit Investing Corp.
Aug. 4, 1961 ("Reg. A") 28,000 shares of 80 cents cumu¬
lative, participating preferred stock (par $1). Price—$10.
Business—An investment company.
Proceeds—For ac¬
quisitions, working capital and general corporate pur¬
Manufacturing Corp.
18, 1961 filed 100,000
—Manufacture
Underwriter—
Elm
Sts., Beaver
Dam, Wis. Underwriters—Cruttenden, Podesta &
Co.,
Chicago and Splaine & Frederic, Inc., Milwaukee.
Oct.
Street, Valley Stream, N. Y.
Securities, Inc., Hempstead, N. Y.
Nelson
and
41
American
North
Acceptance Corp.
(11/20-24)
Sept. 18, 1961 filed 100,000 common. Price—$8.50. Busi¬
ness—Automobile retail sales financing.
Proceeds—For
.
.
Continued
on
page
42
f
(2106)
The Commercial and Financial Chronicle
Continued from page 41
—Tuckahoe, N; Y. Underwriter—A. D. Cilhart & Co.,
Inc., N. Y. C.
<•
working capital.
Office—66 East South Water St., ChiLnderwriter—Hornblower & Weeks, N. Y.
cago.
Orlando
Oct.
North Atlantic
Industries, Inc.
cision
debt,
amendment.
electronic
Business—Manufacture
instruments.
of
Proceeds—For
of
product development, inventory and working
Office—Terminal Dr., Plainview, N. Y. Under-
North Carolina
Natural Gas.Corp.
corporate
Office
purposes.
Glen
Fittman..
Grace
—
precut home
ment-of loans
Oz
Oct: 17, 1961 filed 1,200,000 common. Price—$5.. Business
—Distribution and sale of vitamins, minerals and die¬
tary food supplements. Proceeds—For selling stockholdCalif.
291
—
Underwriter
Inc., N. Y.
.
—
•
;
;;
,
Nutri-Laboratories, Inc.
Sept. 14, 1961 filed 100,000
Price—$5. Business
For marketing of "Doctor'sChoice" brand, working capital and operating expenses.
Office—1511 K St., N. W,, Washington, D. C. Underwriter'
Price—To be filed by amendment.
—The fund will invest in
mation.
Business
investment.
Office—135
South
La
training
Covato
ner,
P-G
Oct:
Business—The Fund will invest in interest bearing obli¬
gations of states, counties* and municipalities of the
U.
S., and political subdivisions thereof which are be¬
lieved to be exempted from Federal income taxes. Pro¬
investment. Office—Chicago, 111. Sponsor—
ceeds—For
Nuveen
&
Co., 135 So. La Salle St., Chicago.
Nuveen
Get.
Tax-Exempt Bond Fund, Series 4
1961 filed $15,000,000» of units representing
17,
and
political
subdivisions
towhe exempted
For
-
-
thereof
which
Oct.
investment.
Office—Chicago,
I1L
'
'
.
^
'
'
y
135,000 common,, Price—$2.2Q
of solid state electronic devices..
("Reg. A")
Business—Manufacture
workingscapitaL/Office—17500 S. Garfield
Ave., Bellgardens, Calif. Underwriter—Darius. Inc.,
Price—By amend¬
Office—6125 El-Cajon Blvd:, San Diego; Underwriter—
N. C.: Roberts & Co., Inc., San, Diego.///
:
' *
•
Sponsor—John
Nuveen &..Co., 135 So. La Salle St;, Chicago*
/
'Pennon Electronics Corp.
Sept 28, 1961
Business—Sale and installation of automobile ac¬
cessories.' Proceeds—For expansion and working'capital.
from Federal income taxes. Proceeds—
/;/
York. /
(11/15)
Sept*.18,^961 ("Reg. A") 100,000 capital shares. Price—r
$3. Business—Development and manufacture of optica)
equipment and precision instruments.- Office—2930 S.
Bristol St., Costa Mesa, Calif. Underwriter—Francis., J,
Mitchell & Co., Inc., Newport Beach, Calif.
Proceeds—For
Big Wheel
26, 1961 filed 100,000 common.
(11/13-17)
Penn, Optical,. Inc.
i
,
ment.
believed
are
& Co., Inc., New
sicn roo
*
•
.
Pellegrino Aggregate Technico, Inc*
Aug. 10, 1961 filed 130,000 class A common shares. Price
—$5. Business—The manufacture of building materials.
Proceeds—Fur payment of income taxes and loans and
for working capital. Office—Woodbridge-Carteret Road,
Port Reading, N. J. Underwriter—Mortimer B. Burnside
Pacific
fractional interests in the Fund. Price—By amendment.
eBusiness—The Fund will invest in interest-bearing obli?
gations of states, counties, and municipalities of the U. S.,
,
* t irr(Tfn -
,
Underwriter—Bear, Stearns & Co., New York.
York.
Peck, Cohn & Co., N. Y.
/
.
photography and the manufacture of com¬
photographic processing equipment. Pro¬
ceeds—For expansion, research and repayment of loans.
Office—Time & Life Bldg., Rockefeller: Center, New
Offering—Ex¬
25, 1961 filed 120,000. common
v
&
E. Liederman
Underwriter—D.
Md.
mercial color
(with attached warrants to purchase 60,000 additional shares) to be/offered
in units consisting of two-shares and. one ..warrant.*? Price
—$12 per unit: Business—Manufacture of electric resist¬
ance
welded steel tubing.
Proceeds—For debt- repay-ment. and working capital. Office—413 Hamilton Rd.,
Bossier City, La.
Underwriters--Howard; Weil;- Labouisse, Friedrichs- & Co., New Orleans and Clark,
Landstreet & Kirkpatrick, Inc., Nashville;
—
John
&
Pi & Hi Tube Corp.
•
.
field of color
Co., N. Y., and Lench-
— For debt
repayment,
expansion and working capital. Office—230 E. 162nd St.,
Series 3
Spring,
Pavelle Corp.
Products
N. Y. Underwriters—Kahn
Tax-Exempt Bond Fund,
Corpi..-*-'.
Aug. 22,. 1961 filed 200,000 common shares. Price—By
amendment. Business—Research and development in the
parts and accessories. Proceeds
Oct; 17, 1961 filed $15,360,000 of units representing frac¬
tional' interests in the Fund. Price
By amendment;
Finance
Co., Inc., N. Y.
Manufacturing Co.; Inc.
Oct. 10, 1961 filed 110,055 common.. Price—By amend¬
ment. Business— Manufactures appliance-replacement
Street, Chicago. Sponsor—John Nuveen & Co., Chicago.
Offering—Expected in early 1962. Note—This fund form¬
erly was known as Tax-Exempt- Public Bond1 Trust
Fund, Series 2.
Nuveen
Silver
pected in December.
Salle
'
*
27,. 1961 filed 135,000.common/. Price—S6. Business,
—Financing of commercial; a^-o-pts r^-eivable.
Pro¬
ceeds—For debt repayment.
Office—8650 Cameron St.,
personnel, new equip-,
Office—75 W. St.,
Co., Inc., Pittsburgh,. Pa.
// //-/•'1 :.//•/
&
"
Oct.
of debt and working capital./
N. Yk Underwriters—Harry Odzer
states, counties,- municipalities and territories • of" the
U. S., and political subdivisions thereof which are be¬
lieved to be exempted from Federal income taxes. Pro¬
ceeds*—For
Proceeds—For
Industries. (12/4-8)
Foam
Co., N. Y.
Parker
>
1
ment; expansion and working capital.
interest bearing obligations of
&
Heller
be offered by the company and 50,000 by stockholders,
Price—$3.75. Business—Furnishing of statistical infor- <
Tax-Exempt Bond Fund, Series 2*
Feb. 23, 1961 filed $10,000,000 (100,000 units) ownership
Rothschild/
working capital. Office—Mercer and Arnot Sts., Lodi,
N J
Underwriters — Fialkov & Co., Inc., and Stanley
Ozon
Processing, Inc.;
Oct. 6, 1961 filed 100,000 common of which 50,000.are to
Nuveen
buiiding. materials./Proceeds—For repay-',
and working capital* Office—499 Jericho
Paramount
PCS Data
—Hirschel & Co., Silver Spring, Md.
$10Q, of debentures^ Price—By .
and direct sale ol^.
and
common,
Sept. 25, 1961 filed 137,500 common. Price—By amend-'
ment Business—The manufacture of polyester foams. N
Proceeds — Additional equipment, debt repayment and \
Office—50 Wallabout St., Brooklyn, N. Y. Underwriter/
—Carter, Berlind, Potoma & Weill, N. Y.
dog products. Proceeds;—
10
Co., N. Y. C. (mgr.).
—
Proceeds—For repayment
—'The manufacture and distribution of animal foods and*
certificates.
&
ment. Business—Manufacture of toiletries and cosmetics.
common.
of
to
Turnpike, Mineola, N. Y. Underwriter—L. F.
Products, Inc., (11/27-12/1)
Sept. 28, 1961 filed 105,000 common. Pirce—By amend¬
.
be
ing
The-design, production and sale of
—
For the repayment of debt,,,
installation of additional equipment, modernization of a
department and working capital; Office—156 Fifth Ave.,,
N. Y. Underwriter—Laren Co./N. Y.
Blvd., Beverly^-.Hills,
Vickers, McPherson & Warwick,
$1,000,000 of 15-year sinking fund (with warrants attached) and 19^""
offered, in 10,00Q. units each consist-^
1976
common
amendment. Business—The packaging
greeting cards. Proceeds
La Cienega
S;
Business
filed
000
Publishing Corp.;
ment.
1961
25,
debentures due
15, 1961 filed 140,000 common. Price—By amend¬
Sept.
-
Paragon - Pre-Cut Homes,
-
Aug.
Cove, L. I., N. Y.
Underwriter—General Securi¬
Co., Inc., N. Y. Offering—Imminent.
Kidder, Pea-
—
/
("Reg/
/
j^Nutri-Bio Corp.
Office
corporate
1961
5,
ties
(12/11-15).
Bldg., Fayetteville, N. C. Underwirters
body & Co., N. Y.
ers.
general
,
Aug. 17, 1961 filed $2,250,000 of convertible second mort¬
gage pipeline bonds due 1981. Price — By amendment.
Proceeds—For repayment of loans, working capital and V
general
Sept.
:
Osrow Products Co., Inc.
/ >
July 28, 1961 ("Reg. A") 60,000 common shares (par 10
cents).
Price—$5.
Business—The manufacture of car /
and window washing equipment. Proceeds—For working;
capital, research and development, new; products, and/
general corporate purposes. Office—115 Hazel Street,
writcr—G. A. Saxton & Co., Inc., N. Y.
.
and
repayment
Seattle.
,Y.
A")' 100,000 common. Price—$3. .
Business—The company/ will produce micro-wave test
equipment and components. Proceeds—For equipment, ,
advertising, research and development and working capi¬
tal. Office—51 Urban Ave., Westbury, N. Y. Underwriter .
—Karen Securities Corp., N. Y.
,//
Price—$2.50. :
Office—Oceanside, L. I;, N. Y. Underwriter—
Professional & Executive Planning Corp., Long Beach,/
New York.
•/'/'
/•■"•■ :/;/ //■'"'■■':/\
new
capital.
debt
Paradytiamics Inc.
,
80,000 common.
purposes.
pre¬
Proceeds—Repayment
Corp.
("Reg. A")
1C61
Thursday, November 9,
>
working capital./Office—Dexter Horton Bldg.,
Underwriter—Robert L. Ferman & Co., Inc„,N.
j;
Business—Manufacturer of miscellaneous paper products.
Sept; 26, 1961 filed 131,500 common, of which 120,000
wi.il. be sold by the company and 11,500 by a stockholder.
Price—By
Paper
1961
11,
.
.
N. Y.
•fa Pennsylvania Power & Light Co.. (11/28) :•
Oct/31, 1961; filed,v$30,000,000 of first mortgage bonds
due
1991; Proceeds—For construction
and' repayment
of debt. Underwriters—(Competitive) Probable bidders:
*
★ Pacific Lighting Corp.:
Halsey,-Stuart
Co. Inc.;. Smith, Barney & Co.;, First
/;./ ,:/•/./-.
Nov. 6,: 1961 filed 600,000 common;. Price—By amend¬
.Boston Corp. Bids—Expected Nov; :28, 1961.- ; Z ->
ment Business—A holding company, for firms engagedjV/v.-" Permanente Cement- Co.- «•//
in the natural gas business in-southern California./ Pro;Oct. 25, 1961 filed 365,000 convertible preferred shares.,.
Oceanic Instruments, -Inc. (12/18-22)*
/ /*
Aug. 24--1961 filed 140,000 common; Price—$L' Business
•
.
•—The
■
company, plans to manufacture scientific marine
instruments .and provide consultation services. Proceeds -> eeeds—For debt- repayment-and -construction.*- Office—
Price-^By amendment. Business—Production of .cement
—For: organizational expenses and purchase of equip-.
600 California St.;/San Francisco. Underwriter—Blyth
-and gypsum products.Proceeds—For .debt, repayment;
-ment Office—1515 Norton Bldg., Seattle. Underwriter— .
& Cq.-, Ino, N, Y.r Offering—Expected in early Decem¬ *rZand
expansion/ Office—300 Lakeside- Dr.... Oak1 and; Un¬
Globus, Inc., N. Y.
ber.
derwriters—Dean Witter & Co., San Francisco and First
/ ■
./
/ /
•
.
-
•
-
•
Old Empire,
May
Inc.
(11/20)
Pacific
1961 filed $950,000 of convertible subordinated
debentures due-1971.. Price — At par.
Business— The
manufacture, packaging and; distribution of cosmetics,
pharmaceuticals and household, chemical and industrial
specialties. Proceeds—Fort the repayment of bank loans,
1,
Oct.
Inc.
filed 300,000 capital shares.
1961
Business—The
exploration
and
&
22,
Industries, Incs
1961
filed
For
ment.
Office—213
Mill
Orbit
Aug;
Instruments Corp*
29,
1jj61
Business—
Production: of
mechanical* components.
-
-
expansion
(11/20-24)
filed* 100,000
capital
shares.
miniature
-
of
loans.
Under¬
Fako
precision electro-
•
Originate
1961
Inc.
filed
Eileen
ness—The manufacture
terns, for
of
the. generation,
precision electronic sub-sysdetection
and
control
quencies up through the microwave region.
For expansion, equipment and
of
fre¬
Proceeds—
working capital. Address
of
.
animated
Hammonton,
Corp.
new
motion;
pic¬
products, re¬
working capital. Office
—
34
S.
_/
~
Pictorial
Pfoeuction,
(11/20-24)
Inc.
to be offered
ers.
by the company and 124,178. by. stockhold¬
Price—$10.
Business—Research, development-and
production
N. J. Underwriter—Wood¬
(11/27-12/1)
development of
-
in the field of lenticular optics. Proceeds-—
and equipment. Office—6QiKingsbridge
For construction
•'./'■Rd., E. Mt. Vernon, N; Y: Underwriter—C. E. Unterberg,
Towbin Co.,- N. Y; C* (mgr.),' - '/- ;
//,•' /
v;
.
r
Nov.
13, 1961. Price -— $15: Proceeds — For expansion.
South Tryon St., Charlotte, N. C./Under¬
Office—523
writer—White, Weld & Co., N. Y„
Pulp & Paper Corp.
Price—$3.45. Busi¬
•
Pioneer Astro
:
.
.
/
Industries, Inc., (11/20-24)
v
:
ness—The growth of timber. Proceeds—Working capital
and the possible purchase of a mill. Address—Box 199,
July 27, 1961 filed
150,000
ment.
Manufacture
Orangeburg; S/ C. '.Underwriter —/ /$tone • & Co.' c/o E.
Co., 29 Broadway, N. Y
•
..
"
Orion Electronics Corpi, (11/28-24) '
'
>
Aug. 28/ 1961 filed 100.000: common. Price—$3.50. Busi-•
•
June 28, 1961 filed 1,000,000 common.
.
'
*■
Ave.,
Palmetto
the selling stockholders. Office—512 Seventh Ave., N. Y.
Underwriters
Globus, Inc., and Divine & Fishman,
'Inc., N;.Y.
•
'
.
creation
the
Aug. 29, 1961 filed 149,178 common, of which. 25,000. are
Underwriter—Paine, Webber, Jackson & Curtis, N. Y.
Price—$9.25. Busi¬
—
.
/
Development/Co.
Working, capital. Office—6300 Olson Hwy., Minneapolis.
common.
^
Piedmont Natural Gas Co., Inc., .;. •
25, 1961. filed 150,000 common; of which 100,000
.•
will be sold by the company and 50,000 by stockholders ■/_ Sept. ,14, 1961' filed 126,832 common being- offered:-f6r
Price—By amendment. Business—Manufacture of equip¬
subscription by stockholders;'-on' the basis. - of - one for
ment used to process and print photographs. Proceeds—
each 10 held of record Oct. 26. with rights to expire
ness—The manufacture of women's coats. Proceeds—For
,
&
Sept.
(12/4-8)
150,000
(11/20-24)
St., Mount Vernon, N. Y. Underwriter—First Phila¬
delphia Corp., New York.
-
cock, Moyer,* Fricke & -French, Philadelphia: (mgr.).
-
in
used
Proceeds—For
payment of loans and
Nadler & Co..,N. Y.
provements and general corporate purposes. Office—104
Way, Syosset, N. Y. Underwriter—Hardy & Co., N. Y.
Aug. 29,
Management
Bellevue
,
Inc.
West
Price—$4.
Office—131
devices
Aug. 25, 1961 filed 310,000 common. Price—$11. Business
—The large scale production of blueberries,, cranberries,
etc. Proceeds—For repayment: of loans, property im¬
Proceeds—Equipment, products,
and/ repayment
Proceeds—
(11/13-17)
writer—Hodgdon & Co., Inc., Washington. D. C.
•
fertilizers, ani¬
tures;
Price—$4
St, N; E., Vienna, Va.
Photo-Animation,
July 26,' 1961 filed 150,000 common shares. Price—$1.25.
Business—The manufacture of machines, equipment and
Wash. Underwriter—Joseph
Research,
development,
engineering
and
manufacturing in the telephone, electronics and related
fields.
Proceeds—For-repayment of loans, and" equip¬
r
.
derwriter—Dempsey-Tegeler & Co,,.Inc., St,. Louis.
Price—$4. Business
seeds, insecticides, etc.
/
Office—6381 Hollywood Blvd., Los Angelev Un¬
credit
additional
crop
:
.
/—For
equipment, a new plant and working
capital. Office — North Oak and Hazel St., Burlington,
Business—
-
nutrients,
Pakco
shares.
common
common.
;
Leasing Co.
13, 1961 filed $2,000,000 of conv. subord. debentures
1976. Price—By amendment. Business—Leasing of
equipment'to industrial and commercial firms. Proceeds
purchase of, equipment and; collateral for bank
Bids—Nov.
mal
(12/4-8)
125,000
due
Co. Inc.: Morgan Stanley
—The manufacture and sale of chemical
mines.
Brooklyn. N.
Toronto. Offering—Expected in late December.
Aug.
Oct.
Pacific Nutrient & Chemical Co.
mining operations.. Office—44 Court St.,
Y. Underwriter — Gaumont-Corp., Ltd.,
Orbit
Co.
Sept. 15, 1961 filed 120,000
Proceeds—For
•
For
Corp., N. Y.
Personal; Property
15/(11 a.m. EST) in Room 2315, 195
Broadway, N. Y. Information Meeting—Nov. 9/ (2:30
p.m.) in Room 1900, 195 Broadway, N. Y.
Price—$1.35.
development of
Boston
(11/15);
$50,000,000 of debentures -djUe 1994.
the repayment of debt. Officfe — 1200
able bidders: Halsey, Stuart &
Olympa Mines,
1,
—
Co.-
filed
Third Ave,, Seattle. Underwriters—(Competitive). Prob¬
improvements and working capital. Office—
865 Mt. Prospect Avenue, Newark, N. J. UnderwriterLaird, Bissell & Meeds, N. Y.
Sept.
Northwest Bell Telephone
1961
Proceeds
I
property
•
24,
components1 and. assemblies, f orj, hxissile. guidance^, systems.
•
capital. Office—7401 W. Lawrence Ave,. Chicago. Under¬
Lowitz &
•*»
..
.
Fan-Alaska Fisheries, Inc.
.
(11/15) //
Business
July 26, 1961 filed 120,000 common. Price^-By amend¬
ment. Business—Processing of Alaska king crab. Pro¬
ceeds
Sent.
Acquisition
of
fishing, boats,
equipment
and
of
Price—By amend¬
precision machined
Proceeds—New plant, additional equipment and
writer—Francis
—
—
common.
I.
du
Pont, &
Co*, N. Y..
working
:
Pittsburgh Steel Co.
13.
1981
filpd" 1
1 SO Q47',nnmrrtr*n .ViPir^cf
>
nffprprl
1
fnr
Volume 194
Number
subscription by stockholders,
held
10
of
record
Oct.
6106-1 yi. The Commercial and Financial Chronicle
the basis of 7
on
'26
for each
opment and production
of plastic-base protective coat¬
ings, paints and primers, Proceeds—Purchase of equip¬
ment and other corporate purposes. Office—63 Main St.,
Cambridge, Mass. Underwriter — Chace, Whiteside &
Winslow, Inc., Boston.
-
with
rights
to
expire
Nov. 10. Price—$9.25. Proceeds—For
expansion. Office—
1600 Grant Bldg.,
Pittsburgh 30, Pa. Underwriter—Kuhn,
Loeb & Co.,. Inc., N. Y.
Plastic
Sept.
28,
Industries, Inc.
(2107)
.
•
Publishers Co., Inc.
Aug. 29, 1961 filed $1,200,000 of 6%
-
1961
ceeds—General
corporate
Ventura Blvd.,
Office—23999
purposes.
Calabasas, Calif.
43
Underwriter—Blyth &
Co., Inc., N. Y.
• Rapid-American Corp.
1, 1961 filed $8,367,000 of conv. subord. debentures
due 1976, to be offered for
subscription by common
Nov.
("Reg. A") 75,000 common.
Price—$4.
Business—Design and manufacture of women's hand¬
bags. Proceeds—Debt repayment and working capital.
vertible debentures due 1967. Price—At par. Business—The publishing of books. Proceeds*—For redemption of
rate of
Office—6700 N. W. 37th
outstanding 12% debentures due 1965 and for expansion.
outstanding 5%% conv. debs, are convertible. Price—i
At par. Business—Manufacture of metal
'signs, plastic
toys, novelties, etc. Proceeds—To increase ownership in
McCrory Corp. and general corporate purposes. Office—
711 Fifth Ave., N. Y. Underwriter—None.
Court, Miami, Fla. Underwriter
Securities, Inc., Great Neck, N. Y.,
;/•
'
—Ellis
Plastiline,
Office—1106; Connecticut
subordinated
con¬
Ave., N.W., Washington! D.C.
Underwriter—Roth & Co., Inc., Philadelphia. Note—This
registration was withdrawn.
Inc.
1
Sept. 27, 1961 filed 100,00.0 common. Price—$3. Business
—Manufacture of plastic products.
Proceeds—For new
molds, inventory, repayment of loans and working capi¬
.
Publishers Vending
Services,. Inc.
1961 filed $600,000'of 5*6% convertible sub¬
ordinated debentures, due 1971; 120,000 common shares
which underlie 2-year first warrants exercisable at $7.50
per share, and 120,000 common shares which underlie
5-year second warrants, exercisable at $10 per share.
July
tal.
Office—1251 N. E. 48th St., Pompano
Beach, Fla.
Underwriter—Godfrey, Hamilton, Taylor & Co., Inc., N. Y.
,Plymouth Discount Corp.
28, 1961 ("Reg. A") "100,000
.
common; Price—$3.
The securities are to be offered for public sale in units
financing. Proceeds—For re*
of one $100 debenture, 20 first warrants and 20 second
payment of- notes and working capital.. Office — 2211 ^warrants. Price—$100 per unit; Business^-The
design,
Church Ave., Brooklyn, N. Y.
Underwriter—M.Posey v manufacture; sale and leasing of coin-operated vending
Associates, Ltd., 50 Broadway," N. Y. .;
machines
for* magazines,
newspapers
and paperback
1
Business—Consumer sales
Policy-Matic Affiliates, Inc. (12/18-22) • Oct. 16, 1961 filed 200,000 capital shares.
Price—$3.25.
Business—Leasing of insurance vending machines; Pro¬
books.
ceeds—General corporate purposes. Office—1001 15th
St.,,
N.
W., Washington, D. C.
Inc.,' Washington, D. C.
-
•
"
.•
,V
v
,
Puerto
v,,'V
Polytronic Research, Inc. (11/20-24)
June 7, 1961 filed 193,750: common
shares, of which 150,will
000
be. sold
for the companv
and
•
/
43,750 for stock¬
the
debt, advertis¬
ing, sales promotion, and the manufacture of new ma¬
chines. Office—1201 South Clover Drive, Minneapolis.
Underwriter—D. H. Blair & Co., New York.
Underwriter—Balogh & Co.,
•
Proceeds—'For
repayment of
holders.
Price^-By amendment. Business—Research and <
Pulp Processes Corp. (11/27-12/1)
development, engineering and production of certain
Sept. 20, 1961 filed 140,000 common. Price—$5. Business
electronic devices for aircraft, missiles,
; .—Development
of pulping and bleaching devices. Pro¬
oscilloscopes,
electronic vending machines and language teaching ma¬
ceeds—General corporate purposes, Office—Hoge Bldg.,
chines. Proceeds—For expansion, repayment of debt and
Seattle, Wash. Underwriter—Wilson, Johnson & Higgins,
working capital. Office—7326 Westmore Rd., Rockville.
San Francisco.
Md. Underwriters—Jones, Kreeger &
Co., and Balogh &
Futsa-Tronics, Inc.
Co., Washington, D, C. (managing).
Sept. 28, 1961 filed 100,000 common. Price—$3.25. BusiPopular Library, Inc.; (12/4-8)
17, 1961 filed 127,500 capital shares.
ness—The
Oct.
amendment.
Business—Publishing
Office—355
Lexington Ave., N.
Bros. & Co., N. Y.
•
By
books
paperback
of
purposes.
Y. Underwriter—Sutro
•
:
Underwriter—Armstrong & Co., Inc., N. Y. Offering'
-
/
•
-4 "
- •
v- -
;•
Aug/ 25,; 1961
filed
100,000
>
Price—$4.
common.
-
Busi¬
Co., N.' Y.*>\y VV
•'
•
"
•
-
'
—Manufacture
\
Prestige Capital Corp.
Oct. 19, 1961 filed 200,000 common.
Price—$5. Business
-
-
—A
small
Highway;' Penndel, Pa;' Underwriter—
Quartite Creative Corp. (11/28-29)
Sept. 27, 1961 filed 100,000 common, Price—$5.
•
swimming pools. Proceeds
and working capital. Office—
Cynwyd^ Pa. = Underwriter—Dean
&
E: Lincoln''
Arnold Malkan & Co., Inc., N. Y.
♦
ness—The sale of custom built
■—For repayment of loans
203 Bala Ave., Bala
S'amitas
Business — Design and manufacture of thermocouple temperature transducers and electronic indi¬
cating and controlling instruments. Proceeds—To finance
the purchase of Hamilton Manufacturing Co., Inc. Office
—600
Industries, Inc." (11/20-24)
named.
ment.
ceeds—For debt repayment, inventorv. equipment and
working capital. -Office—278 N. W. 27th St., Miami.. Fla.
Preco
be
of
Pyrometer Co. of America, Inc.
Sept. 26, 1961 filed 300,000 common. Price—By amend¬
Products,; Inc.
Oct. 5; 1961 ("Reg. A") 100,000 common. Price—$3. Pro¬
<.
a
establishment
Underwriters—To
•Precision- Metal
Imminent.'
of
massaging mattress. Pro¬
distributorships, purchase
of materials, repayment of debt, advertising and working
capital. Office—5913 Carrier St., N., St. Petersburg, Fla.
Price-—
and_ magazines. Proceeds—General corporate
manufacture
ceeds—For
:
business investment company.
of
Business
home
furnishing products. Proceeds
—For research, new products and working capital.
Of¬
fice—34-24 Collins Place, Flushing, N. Y, Underwriter—
Shell Associates, Inc. and Godfrey, Hamilton, Taylor &
Co., N..Y.
Proceed"1—For
investment. Office—485 Fifth Ave., N. Y. Underwriters
Quick-Chek Electronics & Photo Corp* (12/4-8)
Sept. 28, 1961 filed 110,000 common, of which 70,000
—D;
shares
Gleich
&
Co., N. Y., and Laird; Bissell & Meeds,
Wilmington; Del.:".
y.'';y,v'.;.
;
/:;:"vy'
•
Prevor-IV"ayr^o^n l"terrafij?np", Inc.
.
v.
y
July 31, 1961 ("Reg. A") 80,000 common shares (par 10
cents); Price—$3.75. Business—Export, import, broker¬
and
age
wholesale
poultry.
•
high
Pride
Aug. 29,
Price—$5. Business
—Manufacture of radio frequency interference filters
and capacitors. Proceeds—For equipment, working cap¬
ital and other corporate purposes. Office—15 Neil Court,
Oceanside, N. Y. Underwriter—Arnold Malkan & Co.,
j
75,000
common;"
Price—$5. Business
—The sale of pet foods. Proceeds—For
inventory, repay¬
ment
of
loan,; machinery,
a
N. Y.
products, advertising.
Office—4408 Fairmount Ave., Philadelphia. Underwriter
—Steven Investment
—In late
•
new
/
.
R/Lode
;
-
Isfand,
Inc.
^
.
.
Business
in
—
The
common
manufacture
of
shares.
vinyl
Price—$2.05.
plastic
automotive, marine and household fields.
Proceeds—For repayment of debt, new equipment and
Office
Nort Providence.
& Share
R.
I.
—
184 Woonasquatucket Avenue,
Underwriter—Continental
Bond
Corp., Maplewood, N. J.
Programming and Systems,, Inc.
Oct.
11,
1961
filed
40,000
Price—$3.50. Busi¬
ness—Instructs classes in computer programming and
the operation of electronic data processing/machines.
Proceeds—For expansion.
common..
Office—45
W.
35th
St., N. Y.
Underwriter—D. M. Stuart & Co., Inc., N. Y.
Programs
For
Television,
Aug. 29,
1961 filed 150,000 common. Price—By amend¬
Business — The distribution of films for motion
pictures and television. Proceeds—For repayment of debt
and
working capital. Office—1150 Avenue of the Ameri¬
cas,
N. Y. Underwriter—To be named.
Progs essitrcn Corp.
June 9, 1961 ("Reg. A") 60,000 common. Price—$5. Busi¬
—
Manufacturers of electronic, electro mechanical
and
mechanical devices. Proceeds—For general corporate* purposes. Office—14-25
128th St., College Point,
N. Y. Underwriter—Charles Plohn & Co., N. Y.
Prufcoat
Sept.
25,
Laboratories, Inc.
1961 filed 60,000 common,
Sept. 22, 1961 ("Reg. A") 25,000 common. Price—At-theBusiness—Manufacture of electronic products.
Proceeds
For acquisition of a laboratory, equipment
and working capital. Office—104 Pickard Dr.; Syracuse,
market.
—
N.
Y. Underwriters—Bertner Bros., N. Y.; Earl Edden
Co., Rockville Centre, N. Y. and Max Philipson & Co.,
Inc., Utica, N. Y.
•
>.
Business
The manufacture of precision parts,
components, assemblies and subassemblies for the busi¬
—
ness
machine, electronic and aircraft industries. Proceeds
equipment, repayment of loans and general corpo¬
rate purposes.
Office—9 Porette Ave., North Arlington,
N.J. Underwriter—Marron, Sloss & Co., Inc., N.Y. (mgr.).
Rainbow Photo Laboratories, Inc.
Sept. 28, 1961 filed 150,000 common. Price—By amend¬
ment.
Business—Processing of film and distributing of
photographic equipment.
Proceeds—For moving ex¬
of
debt
expansion, advertising and promotion, repayment
and
working capital.
Office—29-14 Northern.Blvd., Long Island City, N. Y. Underwriter—Rodetsky,
Walker & Co., Inc., Jersey City.
Rantec
of
which
Corp.
(11/28)
1961 filed 100,000 common, of which
.to be offered by the company and 50,000 by
ers.
Price—By amendment.
ment
which
the
Rapid Film Technique, Inc.
19- 1961 filed 70,000 common. Price—$4. Business
Office—37-02 27th St.,/Long Island City, N, Yi
purposes,
Underwriter—Herbert Young & Co., Inc., N. Y.
•
Raritan Plastics
Corp.
J
>
.
,
Sept. 28, 1961 filed 100,0U0 class A common./Price—$5.
Business—Extrusion
ment,
debt
of
repayment
plastic sheets. Proceeds—Equip¬
working capital,. Office—J.
and
Raritan Rd., Oakland, N. J. Underwriter—Gianis &
Co.,
Inc:, N. Y. Offering—Expected in late December.
•
Raymond Engineering Laboratory, Inc.
(11/13*17)
'
v
Aug. 15, 1961 filed 100,000 common shares, of which 50,000 shares are to be offered by the company and 50,000
shares by stockholders. Price—By amendment. Business
—The
manufacture
and related
vehicles.
and
of
devices,
accelerometers
space
Proceeds—For repayment of loans, equipment,
working capital.
Conn.
timing
equipment for missiles, satellites and
Underwriter
Office—Smith Street, Middletown,
Lee Higginson Corp., New York
—
Real Estate Fund, Inc.
Sept. 28, 1961 ("Reg. A") 14,634 units each consisting of
seven
common shares and
one 20-year 6%
convertible
subordinated debenture.
—Development
other
Price—$20.50 per unit. Business
operation of shopping centers and
Proceeds—General corporate purposes.
and
properties.
Address—Greenville, S. C,
Co., Inc., Asheville, N. C.
Realtone
Underwriter—McCarley
&
Electronics
Corp. (11/20-24)
filed 100,000 common shares. Price—$4/
marketing of transistorized radios and
related equipment. Proceeds—Repayment of loans and
general corporate purposes. Office—71 Fifth Ave., New
York. Underwriter—Lieberbaum & Co., N. Y.
J
Aug.
16,
1961
Business
The
—
Realty Equities Corp. of New York (11/27-12/1)
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
the basis of
on1
$100 per unit.
struction.
one
unit for each 20 shares held.
Price—•
Business—General real estate and
Proceeds—General corporate purposes.
—666 Fifth
Ave., N. Y.
con¬
Office
Underwriter—Sutro Bros. & Co.,
New York.
Recco, Inc.
Oct.
19,
1961
amendment.
(12/18*22)
filed 75,000 class A shares. Price — By
Business—Operates record, card and sta*
tionery departments in discount stores. Proceeds—For
expansion. Office—1211 Walnut St., Kansas City, Mo.
Underwriters
—
Midland
Securities
CO,,
Inc.,
Kansas
City, Mo.
Associates, Inc.
14, 1961 filed 100,000 class A common. Price—$3.
Business—The operation of a bowling center. Proceeds—
For working capital. Office—890§ Columbia Pike, Falls
Aug.
V'/! •',''
Church, Va. Underwriter—None.
Red
Rope Stationery Industries,
n/20-24)
/ /.J..
Inc.
common. Price—$3.50.eBusi¬
stationery supplies. Proceeds
—For working capital, equipment, expansion and repay¬
ment of debt. Office—70 Washington St., Brooklyn, N. Y.
ness—The
manufacture
of
Underwriter—George, O'Neill & Co., Inc., N. Y. (mgr.).
•
Red Wing
Fiberglass Products, Inc.
("Reg. A") 260,000 common; Price—$1.15.
Proceeds
Debt 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¬
ter was temporarily postponed.
15,
1961
and manufacture
Business—Design, develop¬
of microwave
components.
Pro*
filed
(11/13-17)
51,000 capital shares.
construction
and
sale
of
Price—$12.
"shell"
homes
Proceeds—For working capital.
Address—Hopkinsville, Ky. Underwriter—J. J. B. Hilliard & Sons, Louisville.
and
mortgage financing.
Reher
Simmons
Research, Inc.
(11/13-17)
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.
Proceeds—For plant construction, equipment, research
and development, sales promotion and working capital.
Office—545 Broad St., Bridgeport, Conn. Underwriter
—McLaughlin, Kaufmann & Co., N. Y. (mgr.).
Inc., and Jomar Plastics, Inc.
shares of Ripley and
100,000 of Jomar to be offered in units consisting of one
share of each company. Price—By amendment. Business
—Manufacture of wood and plastic heels for women's
Ripley Industries,
Oct. 27, 1961 filed 100,000 common
shoes,
50,000. are
stockhold¬
.
Regal Homes, Inc.
Aug.
Business—For
Ragen Precision Industries, Inc.
(11/27-12/1)
Aug. 31, 1961 filed 100,000 common. Price—By amend¬
penses,
the
July 28, 1961
Oct. 16,
13,000
are to be offered by the company and
47,000 by
stockholder. Price—By amendment. Business—Devel¬
shares
a
--'4'''
Design Corp.
ment.
at
held and
Aug. 23, 1961 filed 160,000
For
Inc.
ment.
ness
'
into
common
—
products
the
working capital.
Radar
debs, for each 25
new
holders
common
Sept,
,.y-.
16, 1961 filed 1,250,000 common. Price—Up to $4.
Business—Company plans to build and operate an auto¬
mobile racing center. Proceeds—General corporate pur¬
poses.
Office—21 N. 7th St., Stroudsburg, Pa. Under¬
writer—None.
July 28, 1961 filed 330.000
y.-.-
Oct.
(11/20-24)
used
-
.■
Racing Inc.
Corp., Bala Cynwyd, Pa. Offering
December.
Product Research of
common.
.
Industries, Inc.
filed
Interonics, Inc.
30, 1961 filed 40,000
Oct.
debenture
conv.
debs, for each 25
Recreation
RF
growers,
1961
fidelity
receiving tubes. Proceeds—For debt repayment and working capital. Office—5212 Pulaski Ave.,,
Philadelphia. Underwriter—J. R. Williston & Beane, N. Y,
'
Proceeds—For
to
be offered
service tube testers and the sale of television, radio and
■
marketing of fruits, vegetables and
expansion,, sales promotion, ad¬
working capital and general corpo¬
rate purposes.
Office—99 Hudson Street, New York.
Underwriter—J. J. Krieger & Co., Inc.; New York. ^
xv
vances
to
by the company and 40,000 by
stockholders. Price—$10. Business—Manufacture of selfare
5%%
new
—The rejuvenating and repairing of motion picture film.
Proceeds—For debt repayment and general corporate
Rico
Capital Corp.
Sept. 13, 1961 filed 750,000 common. Price--$10. Business
—A small business investment company. Proceeds—For
general-corporate purposes. Address—San Juan, Puerto
Rico. Underwriter—Hill, Darlington & Grimm, N. Y.
and
$100 of
$100 of
3,
'
Aug.
stockholders
shoes
metal
and
and dies, bowling pins, bowling
products. Proceeds—For 'general cor¬
molds
related
porate purposes. Office—4067 Folsom Ave. St.
Continued
Louis and
on
page
44
44
-I
■'J
Continued from
-y
!!
The Commercial and Financial Chronicle
(2108)
•
page 43
!1
Rochester Capital
Leasing Corp.
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¬
r;II;
tures
iiif
and
eight shares.
Price—$90
unit. Business—
per
*■
St.,
Rochester, N.
Co., Cleveland.
Y.
Underwriter—Saunders,
Stiver &
1
'ti-
Rochester Gas and Electric Corporation
(11/14)
bonds,
series T, due Nov. 15, 1991. Proceeds—For construction.
Underwriters—(Competitive). Probable bidders: Halsey,
Stuart & Co. Inc.; Kidder, Peabody & Co.-White, Weld
Oct.
//
::tfr
12,
1961
filed $15,000,000
& Co.-Shields & Co.
of first mortgage
Savin
j- machines.
Sept.
lY,
j'/lr.
■ri'*
Rodale
rf.
Sept.
("Reg.
1961
Erie
Business—Manufacture
60,000
common.
electronic
of
Pro¬
Co.
•
Oct.
24, 1961 filed $600,000 of 6% conv. subord. deben¬
120,000 common shares to be offered
in units consisting of one debenture 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¬
!ij
'
,S|.
General real
estate
and
ment.
Chemical
Corp.
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.
ic Ruitfoso Hotel Corp.
Oct 30,
1961
("Reg. A") 99,596 common.
Price—$3.
Business—Operation of a lodge in New Mexico. Pro¬
ceeds—For
oso,
construction.
N. Mex.
Office—Navajo
Lodge,
Ruid-
Russ
Togs, Inc. (11/13-17)
3, 1961 filed 107,571 outstanding class A shares to
be offered for subscription by stockholders.
Price—By
amendment.
Business—Manufacture of women's
sports¬
Proceeds—For
selling stockholders. Office—1372
Broadway, N. Y. Underwriter — Shearson, Hammill &
Co., N. Y.
r'fi
Russe!!
Nov.
ment.
Stover
S.
1, 1961 filed 130,000 common. Price—By amend¬
Business—Manufacture of candies. Proceeds—For
O.
S.
Photo-Cine-Optics, Inc. (11/20-24)
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—$40 per unit. Business—The manufactur¬
ing, renting and distributing of motion picture and tele¬
29,
vision production equipment. Proceeds—For
V$
uS
hi
i
■
•
v'!
'ij
i(
ment, advertising,
capital and other
.
52nd
i'.i
and
corporate
new equip¬
development,■ working
purposes.
St., New York. Underwriter
—
Office—602
W.
William, David &
Motti, Inc., N. Y.
Sabre,
and
Southern Frontier Finance Co.
St., Saegertown, Pa.
Sell
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¬
ness—Repurchase of mortgage notes, contracts, leases,
etc. Proceeds—Repayment fo debt, investments and other
corporate purposes. Office—615 Hillsboro St., Raleigh,
C. Underwriter—J, C. Wheat & Co., Richmond, Va.
N
'N
June
Inc.
-—By amendment.
use.
Business—The manufacture of semi¬
Proceeds—For
products.
military, industrial and commercial
equipment, plant expansion and
new
Servotron Corp.
Sept. 25, 1961 filed 100,000 common/Price—$5. Business
pansion. Office—151 Birchwood Park Dr., Jericho, L. I..
N, Y. Underwriter—Armstrong & Co., Inc., N. Y. Of¬
fering—Expected sometime in January.
m
■W
Southern Realty &
Utilities Corp.
(11720^24)
shares, to be offered for public sale in units of $500 of
debentures and warrants for five common shares. Price
of principal amount. Business—The develop¬
unimproved land in Florida. Proceeds—For the
repayment of debt, the development of property, work¬
ing capital and other corporate purposes. Office—1674
Meridian Avenue, Miami Beach, Fla.
Underwriters —
—At 100%
Hirsch
York
&
City
and Lee Higginson Corp., both of New
(managing).
Co.,
Southern
Syndicate,
Inc.
Sept. 13, 1961 filed 300,000 common. Price—By amend¬
ment. Business—Real estate investment. Proceeds—For
repayment
Bank
loans and working capital. Office—2501
Bldg., Atlanta. Underwriter—Johnson,
of
of Georgia
Lane, Space Corp., Savannah.
Southwest
Factories, Inc.
1961 ("Reg. A") 100,000 capital shares. Price
—$3.
Proceeds—For debt repayment, equipment,! re¬
search and
development and general corporate pur¬
Oct.
10,
Office—1432 W. Main St., Oklahoma City, Okla.
Co., Inc., Washington, D. C.
poses.
electronic
Underwriter—Best & Garey
and
processing machines and other
Proceeds—Purchase of equipment
products.
Rd., Farmington, Mich. Underwriter—None.
•
Sexton
Sept. 27,
(John)
—
common.
Distributes
food
Price—By amend¬
products to restau¬
1961 filed 225,000 common. Price—By amend¬
Business—The manufacture and sale of women's
Dow
selling stockholders; Office—
Manchester, N.
Francisco.
St.,
H. Underwriter—
Dean Witter & Co., San
Minerals
&
Chemical
ment, and exploration of mining properties. Proceeds—
For general corporate purposes. Office — 1406 Walker
Bank Bldg., Salt Lake City, Utah. Underwriter — None.
Offering—Expected sometime in November.
Shatterproof Glass
ated
Corp.
Business—Manufactures
Office—4815
Co., N. Y.
glass.
Cabot
•
and
Price—By amend¬
distributes
lamin¬
Proceeds—For selling stockholders.
Ave., Detroit. Underwriter—Shields
-/•
19,
investment
1961
30, 1961 filed $8,000,000
sinking fund debentures due
of 7V2% capital income
1989. Price—By amend¬
company.
("Reg.
A")
manufacture
(SAMCO)
100,000 common. Price—$3.
of high temperature mate¬
rials for the space, nuclear and missile fields, and com¬
ponents used in
the communications field.
Proceeds—
For
equipment, research and development, and working
capital. Office—31-26 Greenpoint Avenue, Long Island
City, N. Y. Underwriter—Manufacturers Securities Corp.,
•
5th
Ave., N. Y.
Spandex Corp.
Oct. 25, 1961
("Reg. A") 90,000 common. Price—$3. Busi¬
of a synthetic elastic yarn and other
ness—Manufacture
fibres. Proceeds—For general corporate pur¬
Office—186 Grand St., N. Y. Underwriter—Mc¬
Laughlin, Kaufman & Co., N. Y. Offering—In January.
synthetic
poses.
(L.
B.),
Inc.
*
Oct. 30,
1961 filed 65,000 common. Price—$5. Business—
Operation of retail furniture stores. Proceeds — For
working capital. Office—2212 Third Ave., N., Y. Under¬
writer—Arnold Malkan &
Spectron,
★ Sheraton Corp. of America
Oct.
Sept.
Spears
1961 filed 215,000 common.
safety
business
Space Age Materials Corp.
(11/20-24)
511
Co.
April 24, 1961 filed 500,000 shares of common stock.
Price—$2.50 per share. Business—Acquisition, develop¬
27,
•
A
Business—The
Shoe Corp.
the
Development Co.
!:;.a '•
Price—$10. Business
Proceeds — for in¬
vestments.
Office—1101 N. First St., Fhoenix. Under¬
writer—Wilson, Johnson & Higgins, San Francisco (mgr).
—
rants, hotels, schools, etc. Proceeds—For selling stock¬
holders. Office—4700 S. Kilbourn Ave., Chicago. Under¬
writer—Hornblower & Weeks, N. Y.
;,<*
ment.
&
(u/20-24)
Aug. 28, 1961 filed 600,000 common.
(11/14)
70,000
1961 filed
Business
ment.
Co.
&
Research
Southwestern
inventory, sales promotion, research and develop¬
ment, and working capital. Office—29503 West Nine Mile
&
ex¬
Pro¬
Office—Poinsett Hotel Building,
—Sale of automatic film
gasoline „and .oil
Proceeds—For
Price—$6.
Greenville, S C. Underwriter—Capital Securities Corp.,
S. C. •
Address—Sweetwater Avenue, Bedford, Mass.
Underwriter—S. D. Fuller & Co., New York (managing).
Oct.
stations.
(11/13-17)
investment company.
business
ceeds—For investment.
•
(11/20-24)
\
June 30, 1961 filed 125,000 class A common shares. Price
ment.
service
small
Business—A
Inc.
Industries,
100,000 common shares.
1961 filed
28,
Greenville,
Colo.
Serv
Semicon,
Sav-Mor Oil Corp.
July 5, 1961 ("Reg. A") 92,000 common shares (par one
cent). Price—$2.50., Business—Wholesale distribution of
to
Growth
'Southern
;
'
Dispensers, Inc.
("Reg. A") 60,000 common. Price—$5. Busi¬
ness—Manufacture of dispensers for hot and cold bever¬
ages. Proceeds—For debt repayment and general corpo¬
rate purposes. Office—20 Simmons St., Boston. Under¬
writer—Goldsmith, Heiken & Co., Inc., Brooklyn, N. Y.
Underwriter—Carl M. Loeb,
•
debentures
nated
Co., N. Y.
Shasta
parts, including diodes and rectifiers. Pro¬
general corporate purposes.
Office—South
1961 filed $1,000,000 of sinking fund subordi¬
due 1976 with warrants to purchase
Sept. 22,
ment of
;
Saegertown G!asseals, Inc.
Sept. 27, 1961 filed 210,500 common, of which 100,000 are
to be offered by the
company and 110,500 by stockhold¬
ers.
Price—By amendment. Business—Manufacture of'
Business—Manufacture of
curities &
t
and
Office—4990 E. Asbury,
Underwriter—Schmidt, Sharp, McCabe & Co.,
expansion
Westbury,
filed 205,710 class A shares. Price—By
vinyl sheetings.
Proceeds—For equipment and working capital. Office—
241 Church St., N. Y. Underwriters—H. Hentz & Co. and
Allen & Co., N. Y. Offering—Expected in December.
1961
Canal
Denver.
$2.
May 26, 1961 filed $4,140,000 of 6% convertible debentures due 1976, with warrants to purchase 41,000 common
27,
Proceeds—For
equipment and working capital.
—
equip¬
filed 200,000 common, of which 33,000
will be sold by the company and 167,000 by a stock¬
holder. Price—By amendment. Business—Production of
gold compounds and chemicals for electroplating. Office
—Nutley, N. J; Underwriter—Eastman Dillon, Union Se¬
Sept.
shoes.
Proceeds—For inventory, dies, inventory
cleaning
1961
28,
amendment.
(12/5)
Corp.
ultrasonic
Southbridge Plastic Products Inc.
Sept.
E.
/
75,000 common. Price
of
ment, systems and transducers. Proceeds—For
and working capital. Office—1250 Shames Dr.,
N. Y. Underwriter—Keene & Co., Inc., N. Y.
Price—$1.10.
Office—1020
Inc.
("Reg. A")
Systems,
1961
30,
Business—Manufacture
Proceeds—For equip¬
Shoes,
Sudler & Co., Denver,
Shaer
Rhoades & Co., N. Y.
;1
Sonic
Oct.
Sept. 18,
Main
v)
—Meadowbrook
Price—By amend¬
manufacture of networks
equipment.
25, 1961 ("Reg. A") 50,000 common.
Price—$2.
Business—Manufacture of pre-painted aluminum siding
electronic
''•I
purposes.
Proceceds—For general corporate purposes. Of¬
Hawthorne Ave., Yonkers, N. Y. Underwriter
Securities Inc., Hempstead, N. Y.
energy.
fice—260
transmission, filters, transceivers
program
and accessories.
ceeds—For
A*
Co.,
-*•
19, 1961 ("Reg. A")1 3O'OjO0(j''common. !Price—$1.
Business—Retailing of shoes on a self-service basis. Of¬
fice—504 N. Grand, Pueblo, Colo. Underwriter—Amos C.
Inc.
Sept.
Inc., Denver.
h
research
corporate
conductor devices for
Candies, Inc.
selling stockholders. Office—1206 Main St., Kansas City,
Mo. Underwriters—Harriman Ripley & Co., Inc., N. Y.
and Stern Bros. &
Co., Kansas City, Mo.
June
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
Oct. 17, 1961
Underwriter—None.
Oct.
wear.
Underwriters—White, Weld &
Development Corp. of America
Sonic
Oct.
Ave., Greensboro, N. C. Underwriter—Allied
Greensboro, N. C. Offering—Imminent.
Sel-Rex
modernization of buildings,
working capital. Office—253 Columbia St., Brooklyn,
Y. Underwriter—Continental Bond & Share Corp.,
Sept.
(12/20)
— For expansion
repayment of debt and
goods. Proceeds
other household
and
(12/14)
William Blair & Co., Chicago.
and
Inc.
Maple wood, N. J.
Business—Design
data
Co.,
N.
Self-Service
canized
■
Associates, Inc.
derwriter—Searight, Ahalt & O'Connor, Inc., N. Y.
Sept. 25, 1961 filed 120,000 common. Price—$5. Business
—Exploitation of a new process for reclaiming unvul-
■f
If
By
Co., N. Y.
Furniture
Brothers
and
ment, research and development, repayment of loans and
working capital. Office—12 Hinsdale St.,? Brooklyn. *UW*
construction.
construction and general corporate pur¬
Office—>400 Stanley Ave., Brooklyn, N./'Y. Under¬
writer—Lieberbaum & Co., N. Y. (mgr.).
Fibre
—
investment com¬
Sept. 28, 1961 filed 240,000 common. Price—$2.50. Busi¬
ness—The instalment retailing of furniture, appliances
offered
and related electronic
poses.
&
Sokol
production of xero¬
Security Group, Inc*
3, 1961 ("Reg. A") 272,700 common.
for
Proceeds—For
Rubber
(11/20-24)
i,000,000 capital shares. Price
E. Unterberg, Towbin
Seg Electronics Co., Inc.
Sept. 28, 1961 filed 110,000 common.
Land & Development Corp. (12/4-8)
Aug. 2, 1961 filed 900,000 class A common shares. Price
—
(12/11-15)
Price—$10. Busi¬
use
in photocopy
Securities Corp.,
Royal
—$1. Business
Corp.
filed
St,, Chicago.
Wendover
Office—1060 Huff Rd., N. W., Atlanta,
Ga.
Underwriters—Robinson-Humphrey Co., Inc., and
Courts & Co., Atlanta.
•
Lunt & Co.,
Proceeds—For general corporate purposes. Office
—105 Montgomery St., San Francisco. Underwriter—C.
be
to
Proceeds—General
porate purposes.
1}
Machines
150,000 common.
of
products for
Oct.
tures due 1976 and
l!-'i
6orp.
Capital
amendment. Business—A small business
—Importing of goods from Japan. Proceeds—For debt
repayment. Office—Stokely St., and Roberts Ave., Phila¬
delphia, Pa. Underwriter—Amos Treat & Co., N. Y. Of¬
fering—Expected in late December.
Westbury, N.Y. Underwriter—Charles Plohn &,Co., N.Y.
(John)
Sierra
Sea-Wide Electronics, Inc.
Sept. 26, 1961 filed 200,000 common. Price—$4. Business
repayment, new products, equipment, sales
promotion and advertising.
Office — 562 Grand Blvd.,
Rogers
other real estate
and
Proceeds—For
Sept. 5, 1961 filed
Products, Inc.
Aug. 29, 1961 ("Reg. A") 75,000 common.
Price — $4.
Business—The manufacturing and processing of assorted
food products. Office—13480
Cairo Lane, Opa Locka,
Fla. Underwriter—Ehrlich, Irwin & Co., Inc., N. Y.
ceeds—Debt
S|
hotels
Business—Operates
1961
Webber, Jackson & Curtis, Boston and S. D.
Buffalo, N. Y.
salesmen,
Seashore Food
Price—$5.
equipment.
1961
are
N. Y. and
Price—By amend¬
Inc.
A")
Thursday, November 9,
.
general corporate purposes.
Office—470 Atlantic Ave., Boston; Underwriters—Paine,
150,040 common, of which 100,000
by the company and 50,040
shares by stockholders. Price—By amendment. Business
—Publication of standardized intelligence, aptitude, and
achievement
tests,
and
.instructional < materials ' for
schools.
Proceeds—For repayment of debt, redemption of
6% preferred stock and working capital. Office—259 E.
(11/20-24)
Electronics,
29,
to
Proceeds—For initial
22,
shares
Business—Development and manufacture of solid
propellants, rocket motors, rocket catapults and related
products. Proceeds—To repay debt. Office—Falcon Field,
Mesa, Ariz. Underwriters—Paine, Webber, Jackson &
Curtis and Prescott & Co., N. Y.
-
salaries
Science Research
(jointly); Kuhn, Loeb & Co.; Salo¬
Inc.
ment.
properties.
graphic machines, additional equipment, expansion and
working capital. Office—161 Ave. of the Americas, N. Y.
Underwriter—Ira Haupt & Co., N. Y.
ment.
«»■
IA
Power,
Business
1961 filed
ness—Distribution
Co., Inc.-First Boston Corp. Bids—Expected Nov. 14 at
11 a.m. (EST).
'
Rocket
Proceeds—For
Sept. 28,
Brothers & Hutzler-Eastman Dillon, Union Securi¬
ties & Co.-Equitable Securities Corp. (jointly); Blyth &
Sept. 20, 1961 filed 200,000 common.
(11/27-12/1)
.
pany.
mon
jU]'.
Inc.
,
furniture, equipment, and sup¬
plies to schools, hotels, hospitals and industrial com¬
panies. Proceeds—For working capital. Office—8 Jay
; t
Club,
1961
advertising,
public relations, additional employees,
and working
capital. Ofifce—135 W. 52nd St., N. Y. Underwriter—B.
G. Harris & Co., Inc., N. Y.
Manufacture and sale of
t'i;
i
Club.
Oct.
•,'f
6;
("Reg. A") 150,000 common. Price—$2.
Business—A plan to stimulate retail merchandising in
New York City. Retail establishments who join the plan
will give 3% discounts to members of the Save-Tax
Piedras, Puerto Rico. Underwriters—Paine, Webber,
Jackson & Curtis and American Securities Corp., N. Y.
Ill
Save-Tax
July
Rio
.
June 9,
Inc.
Co., Inc;, N. Y.
%
'
.
-
1961 filed 83,750 class A common. Price—$4.50.
Business—Design, development and manufacture of elec¬
tronic systems, instruments and equipment,
including
Volume
194
Number 6106
..
.
The Commercial and
Financial
Chronicle
(2109)
microwave,
radar and underwater
Proceeds—For purchase of
communication
de¬
equipment, plant
vices.
ex¬
pansion, patent development and general corporate pur¬
poses. Office—812 Ainsley Bldg., Miami, Fla. Under¬
writer—Hampstead Investing Corp., N. Y. Offering—
Imminent.
corporate
Swift
Oct.
Industries, Inc.
13, 1961 filed 210,000
construction
and
common,
offered
be
corporate
of
highways,
etc.
Office—731
Mayo,
Underwriter—Allen & Co:, N. Y.' '
Okla.
Bldg.,
Tulsa,
Stanley Industries Corp.
1961 filed 80,000 common. Price—$4. Business
—Design, manufacture and sale of heavy-duty stainless
steel equipment.
Proceeds—For debt repayment and
general corporate purposes. Office—454 Livonia Ave.,
Brooklyn, N. Y. Underwriter—Edwards & Hanly, Hemp¬
stead, N. Y.
' "
'
*
i
Star
Homes, Inc. (11/20-24)
June 28, 1961 filed $500,0U0 7% subordinated debentures
due 1971 and 200,000 common shares to be offered in
units, each unit consisting of $50 of debentures and 20
shares.
common
Price—$100
unit.
per
construction and sale of shell homes.
payment of loans,
advances to
•
Proceeds—For
re¬
subsidiary, establish¬
working capital. Office
—336 S. Salisbury Street, Raleigh, N. C. Underwriter—
D. E. Liederman & Co., Inc., New York (managing).
a
March
—
—For
debt
repayment
Office—252 W. 30th
&
and
general
St., N. Y.
corporate
purposes.
Underwriter—N. A. Hart
Tasty Baking Co. (11/20-24)
Aug. 31, 1961 filed 100,000 class A common (non-voting).
Price—By amendment. Business—The manufacture of
packaged bakery products. Proceeds — For the selling
Hunting
Park
Ave., Phila¬
Co., Philadelphia.
delphia. Underwriter—Drexel &
Tavart Co.
Oct.
$5.
19,
1961
Business—Manufacture
Ave.,
Moore
of
hardware
sets
and
Proceeds—For debt repay¬
Office—14134 S.
purposes.
Paramount,
&
steel
Price—
Calif.
Underwriter—Ray¬
("Reg. A") 100,000 common. Price—$3. Pro¬
ceeds—For equipment and working capital. Address—
Norristown, Pa. Underwriter—Joseph W. Hurley & Co.,
Norristown, Pa.
Sept. 29, 1961 ("Reg. A") 75,000 common. Price—$3. Pro¬
ceeds—For debt repayment,
advertising, equipment and
working capital. Office — 4911 College Ave., College
Park, Md. Underwriter—Switzer & Co., Silver Spring,
Md.
Price—$8.
foreign
717
investments
and
working capital.
Underwriter —
Fifth
Avenue, New York.
Co., N. Y. (mgr.).
Products, Inc.
Aug. 29, 1961 ("Reg. A") 120,000 common. Price—$2.50.
Business—The
June 9, <1961 <^'Reg. A") 100,000 class A common. Price—
Proceeds—For
manufacture
and
sharpening of scalpels.
expansion and the manufacture of scal¬
—
Ave., New Hyde Park, N. Y.
Underwriter—Rubin, Rennert & Co., Inc., N. Y.
;
•
Tip Top Products Co.
(12/12)
J
121,778 class A and 130,222 class B
.
Oct.
23, 1961 filed
common.
'
Price—By amendment;
manufacture of hair
Business—Design and
items. Proceeds—For the sell¬
care
ing stockholder. Office—16th
Underwriters—White, Weld
and
Cuming Sts., Omaha.
& Co., Inc., N. Y., and First
Nebraska Securities Corp., Lincoln.
./
Topsy's International, Inc.
("Reg. A") 60,000 class A common/Price—
$5. Business—Operates catering companies. Proceeds—
Oct. 16, 1961
working capital. Office—208 Nichols Rd., Kansas
Mo. Underwriters—George K. Baum & Co., and
Midland Securities Co.,
Inc., Kansas City, Mo.
City,
•
Tower Communications Co.
Aug. 24, 1961 filed
125,000
(11/27-12/1)
Price—By amend¬
design, manufacture and erection of
ment. Business—The
common.
Techno-Vending Corp.
$3. Business—Manufacture of coin-operated vending
ma¬
For
—
repayment
of
Transcontinental Investing Corp. (11/13-17)
Aug. 25, 1961 filed $10,000,000 of 6x/2% convertible sub¬
debentures due
—
The
operation
1981.
of
Price—By amendment.
hotels,
motels, apartment
buildings
and a small business investment company.
Office—375 Park Ave., N. Y. C. Underwriter—Lee
Higginson Corp., N. Y. C. (mgr.).
>
Trans-Lux
Aug.
000
(11/13-17)
Proceeds
working capital. Office — 2700 Hawkeye Dr.,
Sioux City, Iowa. Underwriter—C. E.
Unterberg, Towbin Co., N. Y. C.
(mgr.).
Business
Business—The manufacture of machinery for
producing
polyurethane foam. Proceeds—For repayment of loans,
—
buy
1961 filed 200,000 common. Price—$5. Business
—Wholesale lumber company.
Proceeds—For debt .re¬
payment and working capital. Office
1600 Hillside
ordinated
Office
horses.
debt and
s
Stearns &
Sterile Medical
horses.
Inc.
Serv
equipment,
Price—$4.
race
land,
build a stable, and
Office—8000 Biscayne Blvd.,
communications towers.
Corp. (11/13-17)
Aug. 14, 1961 filed 110,000 common shares.
Oct. 2, 1961
purchase
Co., Los Angeles.
Technifoam
Plant Equipment Corp.
shares.
breeding of thoroughbred
For
("Reg. A") 40,000 capital shares.
accessories for garage doors.
ment and general corporate
Orizaba
Inc.
common
Tidewater Lumber Co.
of
Office—2801
85,000
Edgewood Avenue,
Capas Co., New York.
Oct. 23,
Co., Inc., Bayside, N. Y.
Steel
and
Leasing Corp.
common. Price—$5. Busi¬
bowling centers. Proceeds—
of land and working capital. Office—873
Merchants Rd., Rochester, N. Y. Underwriters—Myron
A. Lomasney & Co., and N. A. Hart &
Co., N. Y. Note—
This company was formerly named Taddeo
Bowling &
Leasing Corp.
■
vV-/;'*;.•*' :■
v;-r' -
stockholders.
L.
Miami,
Underwriter—Sandkuhl & Co., Inc.,
Newark, N. J.,
New York City.
Offering—Imminent.
Fla.
210,000
construction
The
additional
sales offices. Address
For purchase
Tech
Business
Manufacture of
boxes, brochures,
packaging materials and packaging machines. Proceeds
ment.
31, 1961 filed
filed
ly61
Proceeds—To
(11/14-15)
mond
Price—By amend¬
&
2,
Business
Chicago Ave., Elizabeth, Pa. Underwriter—Eastman
Taddeo Construction
Office —500
Thoroughbred Enterprises,
financing of factory-built homes. Proceeds—To
new
working capital.
June
Dillon, Union Securities & Co., N. Y.
Business—The
ment of branch sales offices and
ic Starmatic Industries, Inc.
Nov. 3, 1961 filed 100,000 common.
Homes,
ness—The
Oct. 26,
.
—1
and
Trenton, N. J. Underwriter—D.
sold
expand credit sales and open
Proceeds—General
purposes.
Office—8107 Chancellor Row, Dallas.
Unterberg, Towbin Co., N. Y. C.
15,
be
sale and
of which 183,000 are
by the company and 27,000 by a stock¬
holder.
Price—By amendment.
Business—Production,
of crushed limestone, gravel, and ready-mix concrete
to
E.
Inc. (11/29).
1961 filed 240,000 common, of which 80,000
by the company and 160,000 by stockhold¬
Price—By amendment. Business—The manufacture,
Sept.
will
ers.
Standard
purposes.
Underwriter—C.
45
31,
Corp.
1961
shares
filed
are
100,000 shares
Business—The
to
by
(11/20-24)
250,000
be
common,
offered
stockholders.
by
the
of
which
150,and
company
Price—By amendment.
manufacture of news ticker projection
equipment. Proceeds
For expansion, repayment: of
loans, new equipment and general corporate purposes.
—
pels. Office—434 Buckelew Ave., Jamesburg,. N,;-J. .Un¬
derwriter—Louis R. Dreyling & Co., Inc., New Bruns¬
wick, N. J. Offering—Expected sometime in January.
chines.
research and
Stearns & Co., N. Y.
Sterling Extruder Corp. (12/4-8)
Sept. 12, 1961 filed 90,000 common, of which 20,000 are
to be offered by the company and 70,000 by the stock¬
holders. Price—By amendment. Business—The manufac¬
ture of plastic extrusion machinery and auxiliary equip¬
599
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.
Tri-Chem, Inc. (11/27-12/1)
Aug. 16, 1961 filed $350,000 of sinking fund debentures,
6%% series due 1976 and 140,000 common shares to be
offered in units consisting of $100 of debentures and
40 common shares. Price—By amendment. Business—The
manufacture of paints for hobbyists.
Proceeds—For re¬
Price—By amendment. Business—Manufacture
payment of bank loans and working capital. Office—82
Proceeds—For
ment.
Elizabeth
working capital. Office^—1537 W.
Ave., Linden, N. J. Underwriter — Marron,
Sloss & Co., N. Y.
1961 filed 150,000 class A common. Price—By
amendment.
Business—Company was recently formed
by Struthers Wells Corp., to take over latter's recent de¬
velopments in saline water conversion and certain man¬
ufacturing, international engineering and sales activities.
Proceeds—For general corporate purpose. Office—111 W.
50th St., N. Y. Underwriter—Hirsch & Co. Inc., N. Y.
City Dairy Products,
27, 1961 filed 120,000
Price—$5. Business
common.
Office—3601 N. W. 50th St., Miami, Fla. Un¬
derwriter—Seymour Blauner Co., N. Y.
purposes.
it Sun-X International, Inc.
Oct. 25, 1961 ("Reg. A") 150,000 common, of which 50,000 are to be offered by the company and 100,000 by
stockholders.
Price—$2. Business—Marketing of liquid
plastic materials for coating glass. Proceeds—For work¬
Office—4125 Richmond Ave., Houston.
Un¬
derwriter—None.
Super Valu Stores, Inc.
Oct.
11,
ment.
ucts
1961
filed
115,000
Business*—Distributes
to
franchised
retail
(12/5)
common.
food
stores.
Price—By amend¬
and
associated
Proceeds—Debt
prod¬
expansion and other corporate pur¬
poses.
Ofifce — 101 Jefferson Ave., Hopkins, Minn.
Underwriters—White, Weld & Co., Inc., N. Y. and J. M.
Dain & Co., Inc., Minneapolis.
Superior Industries Corp.
(11/20-24)
Aug. 29, 1961 filed 125,000 common. Price—$4. Business
•—The manufacture of folding pool tables, table tennis
tables and related accessories. Proceeds
For general
corporate purposes. Office—520 Coster St., Bronx, N. Y.
Underwriter—Brand, Grumet & Seigel, Inc., N.Y.(mgr.).
—
•
Supronics Corp. (11/13-17)
May 29, 1961 filed 90,000 shares of common stock. Price
—To be supplied by amendment. Business—The com¬
is engaged in the distribution of wholesale elec¬
trical equipment and supplies.
search and
Standard
Securities
Corp., and Fred F. Sessler & Co., Inc., N. Y., and BruftoLenchner, Inc., Pittsburgh, Pa.
• Susan Crane
Packaging, Inc. (11/20-24)
Aug. 28, 1961 filed 150,000 common. Price—By amend¬
ment. Business—The manufacture of gift wrap, packag¬
ing materials and greeting cards. Proceeds—For repay¬
ment of loans, expansion,., working capital and general
repayment and work¬
47th St., Chicago. Under¬
Corp., Boston.
&
Office—100
W.
10th
Street, Wilmington,
writer—Globus, Inc., N. Y. (mgr.).
Del.
Under¬
Tri-Point
Sept.
Proceeds—For expansion, a new subsidiary and working
capital. Office—630 Third Ave., N. Y. Underwriter—
Hecker & Co., Philadelphia. Note—This registration was
withdrawn.
Texas
Oct. 23,
bonds
Eastern Transmission Corp.
(11/22)
1961 filed $35,000,000 of first mortgage pipe line
due
1981.
Price—By amendment.
Business—
Transmission of natural gas and petroleum products and
the production of oil and gas.
Proceeds—For debt re¬
payment and construction. Office—Texas Eastern Bldg.,
Houston, Tex. Underwriter—Dillon, Read & Co. Inc., N. Y.
Texas
Oct.
Electro-Dynamic Capital, Inc.
16, 1961 filed 250,000 common. Price—By amend¬
ment.
Business—A small business
investment
Proceeds—General corporate purposes.
Gray
company.
Office—1947 W.
Ave., Houston.
Co., Inc., Houston.
Underwriter—Moroney,
Texas
&
Industries, Inc.
Oct.
26,
shares
Tennessee
1961
are
to be
stockholders.
of
filed
Beissner
Industries, Inc.
filed 160,000 common,
> t
1961
of which 80,000
offered by the company and 80,000 shares;, by
stockholders. Price—By amendment. Business—Manu¬
facture of precision, plastic components. Proceeds—For
repayment of loans, advertising, equipment and work¬
ing capital. Office—175 I. U. Willets Rd., Albertson, L. I.,
N. Y.
be
Underwriter—Hill, Darlington & Grimm, N. Y.
Tri-State
July 24,
1961
Displays, Inc.
("Reg. A") 260,000
common
shares
(par
five cents). Price—$1.15. Proceeds—For
working capital.
Office—1221 Glenwood Ave., Minneapolis. Underwriter
—To
•
be
named.
Offering—Expected in January.
Trio-Tech, Inc.
(11/13-17)
6,
1961
("Reg. A") 100,000 common.
Price—$2.
Business—Manufacture of Electronic Parts and Equip¬
ment.
Proceeds—For debt repayment, machinery, new
products, leasehold
improvements and working capital.
St., Burbank, Calif. Under¬
writer—Ezra Kureen Co., N. Y.
Office—3410
W.
Cohasset
i( Tripoli Co., Inc.
Oct. 20, 1961 ("Reg. A") 60,000 common. Price — $5.
Buisness-^-Manufacture of a wide variety of cosmetics.
Proceeds—For equipment, inventory and working cap¬
ital. Office—1215 Walnut St., Philadelphia. Underwriter
—D. L. Greenbaum & Co., Philadelphia.
Triton Electronics, Inc.
Sept. 26, 1961 filed 108,000 common, of which 76,500 will
be offered by the company and 31,500 by stockholders.
Price—$4.50. Business—Manufacture of magnetic record¬
ing tape and metallic yarns. Proceeds—For research and
development,
advertising, and working capital. Office
Ave., Woodside, N. Y. Underwriter—Neth¬
Securities Co., Inc., and Seymour Blauner &
—62-05
30th
erlands
Co., N. Y.
•
Tropical Gas Co., Inc. (11/15)
8, 1961 filed 135,000 common, to be offered for
subscription by stockholders on the basis of one share
for each
six
common
held.
Price
By amendment.
Proceeds—For the repayment of debt, and working capi¬
tal.
Office—2151
Le
Jeune
Rd., Coral Gables, Fla.
Underwriter—Glore, Forgan & Co., N. Y. (mgr.).
common, of which 150,000
offered by the company and 25,000 by
coolers, water
cans
Proceeds—For
Business—Manu¬
and
portable
debt
hot
repayment
•
True Taste
and general
Houston.
Corp. (11/20-24)
1961 filed 200,000 common shares.
Price—$5.
The installation and operation of plant to
Aug. 18,
Business
•
Bear,
—
175,000
dispensers.
—
Sept.
Price—By amendment.
water
28,
to
Oct.
•
Templeton, Damroth Corp.
Sept. 28, 1961 filed $1,500,000 of 6Vz% convertible de¬
bentures due 1969, of which $205,000 are to be offered
by the company and $240,000 by stockholders. Price—
At par. Business—A mutual fund management
company.
Ave., N. Y. Underwriter
(mgr.).
St., West Orange, N. J. Underwriter—P. W. Brooks
Co., Inc., N. Y. (mgr.).
are
development, plant improvement and work¬
Madison
Main
W.
Telecredit, Inc. (11/13-17)
July 24, 1961 filed 155,000 common shares. Price—$1.
Business—The development of high-speed electronic data
Proceeds—For organizational ex¬
processing systems.
penses/establishment of service centers and reserves.
beverage
Inc.,
debt
ing capital. Office—41 E. 42nd St., N. Y. Underwriter—
Edward Lewis Co., Inc.,, N. Y. Offering—In late Nov.
writers—Amos
Co.,
illu¬
Tele-Communications Corp.
facture
&
of
signs and other advertis¬
Sept. 29, 1961 ("Reg. A") 100,000 class A common. Price
—$3. Proceeds—For debt repayment, advertising, re¬
Proceeds — For the re¬
payment of bank loans and other corporate purposes.
Office—224 Washington St., Perth Amboy, N. J. Under¬
Treat
Office—3401
writer—Clayton Securities
repay¬
ment, inventories,
pany
non-illuminated
Office—625
•
Inc.
—Distribution of eggs and dairy products in Florida and
other southeastern states. Proceeds—General corporate
ing capital.
and
ing capital.
(12/18-22)
Oct.
Tel-A-Sign, Inc.
ing material. Proceeds—For
23,
Sun
advertising; expansion; purchase of raw materials;
development, and working capital. Office—
Ave., N. Y. Underwriter—International Serv¬
ices Corp., Paterson, N. J.
Tenth
minated
Struthers Scientific & International Corp.
Oct.
Proceeds—Repayment,of loans; sales promotion
and
corporate purposes. Office—6502 Rusk Ave.,
Underwriter—S. D. Fuller & Co., N. Y.
Thermionix Industries Corp.
(11/20-24)
July 27, 1961 ("Reg. A") 150,000 common shares (par
10 cents).
Price—$2. Business—The manufacture of a
flexible heating tape. Proceeds—For construction of a
machine, research and development, sales engineering
process
For
—
frozen
concentrated juices
in bulk. Proceeds—•
installation of equipment and working capital. Office
—1206
Tower
Petroleum
Bldg.,
Dallas Rupe & Son, Inc., Dallas
.
;
.
•
,
;
Dallas. Underwriter(managing)."
Continued
on
page
46
46
Continued
The Commercial and Financial Chronicle
(2110)
from
U*
Electronic Publications, Inc.
26, 1961 ("Reg. A") 100,000 common. Price—$3.
Business—Publishing of military and industrial hand-
45
page
S.
purposes.
Sept.
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¬
f
ing—In December.
•
Turner
j
/
Engineering & Automation Corp*
Sept,
27,
1961
75,000 common.
A")
("Reg.
Price—$4.
and
devices
electronic
Roman &
to
States
Office—209 Glenside Ave., Wyncote, Pa. Un¬
derwriter
Valley Forge Securities Co., Inc., Phila.
Offering—Expected sometime in December.
'
per
share. Business-A.
investment.
v
Tyson Metal Products, Inc.
filed 70,000 common, of which 21,000 shares
are to be offered by the company and 49,000 by stock¬
holders. Price—By amendment. Business—Manufacture
of food and beverage service equipment.
Proceeds—
For working caiptal. Office—6815 Hamilton Ave., Pitts¬
Oct, 26, 1961
burgh. Underwriter
burgh. i.
Arthurs, Lestrange &
—
Co., Pitts¬
9th
Univend
<
t
Plastics
V
Inc.
150,000 class A common. Price—$4.
Business—The manufacture of outdoor plastic signs and
urethane foam. Proceeds—For equipment, repayment of
19, 1961 filed
:debt,
personnel,
additional
inventory,
Treat
Underwriter—Amos
&
Co.,
N.
advertising and
Offering—In
Y.
(11/13-17)
Aug. 22, 1961 filed 160,000 common. Price—By amend¬
ment. Business—The company is engaged in the paving
of roads and the sale of sand, crushed rock and transit-
ing of
■
'
,
mix
Office—2800 S. Central
—William R. Staats &
stockholders.
selling
Proceeds—For -the
concrete.
Ave., Phoenix, Ariz. Underwriter
Aug. 28, 1961 filed 150,000 capital shares. Price—$7.50.
Business—The insuring of real estate titles. Proceeds—
For
tral
Office—222 N. Cen¬
Ave., Phoenix. Underwriter—None.
working capital and expansion.
Union Trust
Co.
Insurance
Life
Electronics
surance.
St.,
Hackensack,
Aero
merchandising
Dean
Products Corp.
Proceeds—Debt
industries.
nuclear
Sept.
Price—By amendment. Business—Supplying of decorat¬
ing, jdrayage, cleaning, and related services for trade
shows, conventions, and similar expositions. Proceeds—•
For working capital, the repayment of debt and pur¬
chase
•
of equipment. Office — Suite 705, Merchandise
Chicago, 111. Underwriter—Drexel & Co.,, Phila.
United
Improvement & Investing Corp.
filed $2,500,000 of 6% convertible sub¬
ordinated debentures due 1976 being offered for sub¬
scription by holders of common stock and series A war¬
Aug.
rants
18,
1961
the
on
shares held
basis
of
$100
of record Nov.
22, 1961. Price
—
At
par.
of
debentures
for
each
70
6 with rights to
Business
—
expire Nov.
General real es¬
Office—
25 W. 43rd St., New York. Underwriter—Sutro Bros. &
Co., New York (managing).
tate. Proceeds—For general corporate purposes.
United
Scientific Laboratories,
Inc.'
Aug. 18, 1961 filed 360,000 common shares. Price—$2.
Business—The manufacture of high fidelity stereo tuners
and
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. UnderwriterContinental
Bond '&
Share Corp., Maplewood, N.
J.t
—For
United
Servomation
(12/11-15)
gasoline
Samitas &
18,
;
150,000
food, tobacco products and beverages through auto¬
vending machines. Proceeds—For repayment of
Office—410 Park Ave., N. Y. Underwriter—Hemp¬
hill, Noyes & Co., N. Y.
•
4
U.
S.
Controls, Inc.
(12/4-8)
debt and investment in subsidiaries. Office—583
Underwriter—N. A. Hart & Co., Bayside,
United
States Crown
Corp.
N. Y.
(11/20-24)
Aug. 22, 1961 filed 150,000 common. Price—$8. Business
—The manufacture of specialized bottle caps. Proceeds—
For equipment, working capital and general corporate
Office—437 Boulevard,; East Paterson,
Underwriter—Adams & Peck, N. Y. (mgr.)
purposes.
N.
J.
music.
Mold
&
ness—Manufacture
—
pro¬
1230
E.
Iron
Co.
of cast
Scribner and
.
Business—Production
of
metal
amend¬
powders
for
the
rocket, munitions and pyrotechnics industries.
Proceeds
—For
purposes.
repayment and
Conn.
general
corporate
Underwriter—McDonnell
Inc., N. Y.
&
Co.
July 26,
Corp.
—
65,000
common
The manufacture of
shares*
Price
ton
Ave., Bronx, N. Y. Underwriter—Cacchione & Smith,
Inc., and Fred F. Sessler & Co., Inc., N. Y.
engaged in the forwarding of household goods.
containers, and
Insurance Ex¬
change Bldg., Des Moines, Iowa. Underwriter—Hodgdon
& Co., Inc., Washington, D. C. Offering—Expected some
time in January.
Vending International, Inc.
July 27, 1961 ("Reg. A") 70,588 common shares (par
10 cents). Price—$4.24. Proceeds — For repayment of
debt, expansion and a new building. Office—c/o Brownfield, Rosen & Malone, 1026-16th St., N. W., Washington,
D. C. Underwriter—H. P. Black & Co., Inc., Wash., D. C.
Offering—Expected in late November.
°
j
(11/13-17)
Sept. 1, 1961 ("Reg. A") 150,000 common.
Price—$2.
Business—The manufacture of automatic popcorn vend¬
Proceeds—For repayment of loans, adver¬
tising, inventory, working capital and general corporate
$5.
—
ground
support equip¬
aircraft, missile and related industries. Pro¬
ceeds—For repayment of loans, purchase of
equipment
and
inventory,
purposes.
working capital and general corporate
Office—79 Franklin Turnpike, Mahwah, N. J.
Underwriters
Martinelli & Co., New York and E. R.
Davenport & Co., Providence, R. I.
^ Walston
—
,
Aviation, Inc.
Oct. 30, 1961 filed 90,000 common, of which
60,000 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.
Proceeds
For expansion and general corporate
pur¬
poses.
Office—Civic Memorial Airport, E. Alton, 111.
—
•
Underwriter—White & Co., Inc., St. Louis.
• Wards
Co., Inc. (11/27-12/1)
Sept. 15, 1961 filed 110,000 common. Price—By amend¬
ment. Business—The retail sale of
radios, TV sets, re¬
frigerators, stoves, air conditioners, etc. Proceeds—For
working capital and other corporate purposes. Office—
2049 West Broad
•
Sept. 29, 1961 ("Reg. A") 62,500 common. Price — $4.
Business—Design and manufacture of medical and den¬
tal equipment. Proceeds—For machinery, debt repay¬
ment, expansion and working capital. Office—375 Wal¬
Corp.
1961 filed
Business
ment for the
St., Richmond, Va. Underwriter—Stein
Bros. & Boyce, Baltimore.
,
Valtronic
Moore, Leonard & Lynch, Pittsburgh./
(11/13-17)>• "
/• • Wald Research, Inc.
.
—By amendment. Business—Manufacture of automotive
replacement parts. Proceeds—For repayment of debt and
other corporate purposes. Office—370 19th St., Brook¬
lyn, N. Y. Underwriter—Herzfeld & Stern, N. Y.
:
Valley Metallurgical Processing Co.
Oct. 23, 1961 filed 70,000 common.
Price—By
Price—By amendment. Busi¬
ingot molds, stools,'etc.
iron
Proceeds—For construction and working capital. Office
—Ave. E.,.Latrobe, Pa.
Underwriters—Singer, Deane &
Valley Forge Products, Inc. (11/20-24)
Sept, 15, 1961 filed 120,000 class A capital shares. Price
ing machines.
tooling,
Lane, Wyndmoor, Pa. Underwriters -— John
Co., Inc., and Reuben Rose & Co., New York.
dinate debentures due 1981.
Bldg.,.Houston. Underwriter—White, Weld & Co., N. Y.
Vendotronics
Proceeds—For
products and for working ^capital; Office
Joshua &
M & M
,~
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.
background
Mermaid
,
Proceeds—To repay debt, purchase metal
increase working capital. Office — 542
of which
matic
debt.
its
Valley Gas Production, Inc. < (11/20)
.
Sept. 22, 1961 filed 194,000 common. Price—By amend¬
ment. Business—Acquisition of natural gas and oil pro¬
ducing properties. Proceeds—Construction, repayment of
of
common
(11/20-24)
duction engineering, inventory and sales promotion of
working capital. Office—765 Riv¬
St., Paterson, N.J. Underwriter—Stearns & Co., N.Y.C.
by stockholders. Price—By amendment. Business—Sale
355,000
Electronics Corp.
Vulcan
warder
filed
;
Sept. 29, 1961 filed $3,500,000 of 6% convertible subor¬
Sept. 15, 1961 filed 140,000 common. Price—$15. Business
—A nation-wide and overseas non-regulated freight for¬
1961
22,
ing of
'
Van-Pak, Inc.
Corp.
Avenue, New York.
V;-.. ?
:
commercial communications equipment and the furnish¬
homes. Proceeds—For
(The)
Madison
100,000 class A shares. Price — $3.
Business—The manufacture of electronic test
equipment,
the sale, installation and servicing of industrial and
1961 ("Reg. A") 31,097 common. Price—$5.
Operation of a discount department store.
debt
Underwriter—Lehman
.
—
Office—Essex,
Y.
July 28, 1961 filed
Val-U Homes Corp. of Delaware (12/4-8)
'
Aug. 28, 1961 filed 100,000 common. Price—$5. Business
—The manufacture of prefabricated buildings and shell
ment.
N.
Address—347
1 Voldaie, Inc.
Voron
service
—
Co., N. Y.
100,000
54,000
20, 1961 ("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.
Price—$1. Business
fixtures and display and
in
and
' company
Oct.
be
shares will be offered by the company and 205,000 shares
Sept.
..
common.
use
the
Underwriter—Glass & Ross, Inc., N. Y.
Office—3629 N. Teutonia Ave., Milwaukee, Wis. Under¬
writer—Continental Securities Corp., Milwaukee, Wis.
er
Exposition Service Co. *(11/20-24)
Sept. 22, 1961 filed 100,000 common, of which 40,000 will
be offered by the company and 60,000 by stockholders.
Mart,
Inc.
by
equipment, filing of patents, inventory, advertising and
.
Products,
of lighting
equipment for
Proceeds
Business
repay¬
ment, research and development, expansion and working
capital. Office—Columbus Rd., Burlington, N^J. Under¬
writers—Hess, Grant & Remington, Inc., Philadelphia
and Arthurs, Lestrange & Co., Pittsburgh.
United
Lighting
Eighth Ave.,
Brothers, N. Y.
,,,
promotion.
U-Tell Corp.
1971. Price—At par.
and
Underwriters—To
offered
be
common shares (par one
cent); Price—$2.50.
Business—The manufacture of a
patented heat and mass transfer system. Proceeds—For
Uropa International, Inc. (12/18-22)
Sept. 28, 1961 filed 120,000 commons 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—
Business—Manufacture of
precision machined parts for the aircraft, missile, elec¬
tronics
J.
to
are
(
Repayment of debt and working
capital. Office—55 Bergenline Ave., Westwood, N. J.
Underwriter—Globus, Inc.. N. Y. .(mgr.).~,>> ♦.
...v
vr
Sept. 28, 1961 filed $600,000 of 6% conv. subord. deben¬
tures due
N.
Virginia Dare Stores Corp. (12/11-15)
27, 1961 filed 154,000 common, of which
Vol-Air, Inc. (11/13-17)
July 27, 1961 ("Reg. A") 96,000
Corp.
\
—Manufacturer
Offering—Expected in late Nov.
Proceeds—The
•
amendment.
Sept. 21, 1961 filed 175,000
Broadway St., Milwaukee. Underwriters—H. M. Byllesby & Co., and Straus, Blosser & McDowell, Chicago.
United
Laboratories
named.
life, and health and accident in¬
Proceeds —For investment.
Office — 611 N.
women.
,
Business—Design,' development and
production of teaching machines. Proceeds—For produc¬
tion expenses, advertising, marketing etc.
Office—510
ment. >Business—Sale of
and
men
its part of the proceeds for the open¬
gymnasiums and the promotion of home ex¬
use
fice—Ill
.
Bept. 28, 1961 filed 90,250 common, of which 76,250 will
be sold by the company and 14,000 by stockholders. Price
Sept. 25, 1961 filed 300,000 common. Price—By amend¬
;
by stockholders.
Price—By amendment. Busi¬
ness—Operation of stores selling women's, misses and
children's apparel, Proceeds—For working capital. Of¬
.
stations.
V
*
shares
Co,, Los Angeles (mgr.).
(11/27-12/1)
will
new
shares
Data
Universal
Union Title Co.
;
filed
equipment. Office—375 Park Ave., N. Y. Underwriter—S. D. Fuller & Co., N. Y.
•
•
•
•
•
—
Hudson
cosmet¬
Oct.
Processing Corp. (11/27-12/1)
Sept. 28, 1961 ("Reg. A") 100,000 common. Price—$3.
Proceeds
For debt repayment, equipment, leasehold
improvements, and working capital.-Office—2600 E. 12th
St., Los Angeles. Underwriter — Holton, Henderson &
Co., Los Angeles.
;
'■ :'J,-'v
.''/I
—By
1961
company
—
Universal
Union Rock & Materials Corp.
11,
health centers for
and
City, Mo.
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.
Offering—Expected in Dec.
December.
late
distribution .of
ercise
Corp.
Universal
Ultra
,
new
320,000 shares of class A common
(par 10 cents) of which i60,000- shares will \ be
offered for the account of the company
and 160,000
shares by the present holder thereof. Price—$9.50. Busi¬
ness—The operation of a national chain of gymnasiums
..
Sept.
by the company
Business—Wholesale
Vic Tanny Enterprises, Inc.
May
Street, Kansas City, Mo
"
sold
common,
stock
mutual fund. Proceeds—For
new
Office—20 W.
N.: Y.
Lynbrook,
Blvd., Los Angeles, Calif. Underwriter—Garat & Polonitza, Inc., Los Angeles.
s.
:
Fund, Inoi-'^.."
Underwriter—Waddell & Reed, Inc., Kansas
Offering—Expected in early November. -
.
Rd.,
Inc.
of which 120,000 are
and 48,000 by stockholders.
168,000
Proceeds—For
—
►
Merrick
product development, advertis¬
ing and working capital.
Office — 4206 W. Jefferson
April 11, 1961 filed 2,500,000 shares of stock. Price—$10
ponents.
be
ics.
W. 18th St., Hialeah, Fla.
Underwriter—
Johnson, Fort Lauderdale (mgr.).
United Variable Annuities
com¬
Office—572
Drug Distributors,
Price—$5.
Office-~750
H
Thursday, November 9, 1961
.
Oct. 2, 1961 filed
Plastics, Inc. \
Sept. 7, 1961 filed 190,000 common, oiN$diich 150,000 will
be sold by the company and 40,000 b$\a stockholder.'
Price—$3. Business—The sale of plastic items, power
tools, adhesives, hardware,: etc. Proceeds—To repay debt.
,
(12 11-15)
Business—Manufactures
Venus
repayment, expansion and work-"
Office—480 Lexington Ave., N. Y. Under¬
writer—Douglas Enterprises, 8856 18th Ave., Brooklyn.
ing capital.
United
.
Underwriter—B. G. Harris & Co., Inc., N. Y.
books. Proceeds—Debt
gines, and related activities. Proceeds—For research and
development, and working capital. Office—1346 Con-,,
necticut Ave., N, W.f Washington, D. C. Underwriter—v.
Sandkuhl & Co., Inc., Newark, N. J., and N..Y. C. Offer- ,
•<
-.
Warshow
(H.)
-
& Sons,
Inc.
(11/20-24)
Aug. 30, 1961 filed 285,000 class A. Price—By amend¬
ment. Business—The manufacture of fabrics for
women's
wear. Proceeds—For the selling stockholders.
Office—
45 W. 36th St., N. Y. Underwriters—Lee
and P. W. Brooks
& Co.,
Higginson Corp.
Inc., N. Y. (mgrs.).
Waterman Steamship Corp.
(11/27-12/1)
Aug. 29, 1961 filed 1,743,000 common. Price—By amend¬
ment.
Business
The carrying of
liner-type cargoes.
Proceeds—For the purchase of
vessels, and working cap¬
ital. Office—71 Saint Joseph
St., Mobile, Ala. Under¬
—
writer—Shields & Co. Inc., N. Y. (mgr.).
•
Weiss
Bros. Stores, Inc.
"
1961 filed 140,000 class A shares, of which 25,000 are to be offered
by the company and 115,000 by
stockholders. Price—By amendment.
Business—Operates
Oct. 27,
12 women's apparel stores and
sells men's and women's
apparel in leased departments of other specialty stores.
Proceeds—For
N.
Y.
debt
Underwriter
repayment.
—
Francis
Offering—Expected sometime
in
Office—1
I.
duPont
W.
&
39th St.,
Co., N. Y.
January.
Wellco Shoe Corp.
Sept. 28, 1961 filed 125,070 common. Price—By amend¬
ment. Business—The licensing of other
firms to manu¬
facture
wear.
footwear
and
Proceeds—For
the
a
manufacture
selling
of
casual
stockholder.
foot¬
Address—
Waynesville, N. C. Underwriter—C. E. Unterberg, Towbin Co., N. Y.
Offering—Expected in late December.
'
Volume 194
^Number 6106
The Commercial and, Financial Chronicle
...
(2111)
Wespak Inc.
160,000 common. Price — $2.
Business—Thefmo^iormihg'"of plastic material for pack¬
—Expected Nov. 14 (11a.m. EST) imRoom 1306, 48 Wall
St., N. Y. Information Meeting—Nov. .13 (11 a.m. EST)
at Bankers Trust Co., 16 Wall
St., N. Y. "
aging of products. Proceeds—For research and develop¬
ment,^equipment, sales, advertising and working capital.
Feb.
Sept. 2y, 1961 (("'Reg. A")
Office
„
—
475 Alfred Ave., Teaneck, N. J.
Wonderbowl, Inc.
May
Underwriter—
Bowling
Corp.
—7805
26,
1961 filed 128,434 shares of' common stock, of
115,000 shares are to be offered for "public sale
which
and 13,434 outstanding shares by the
holders thereof. Price—$9.75 per share. Busi¬
ness—The company
plansTo'acquire and* Operate bowling
Westates
/
,
(managing).
Land
+
and
V
of 7% convertible subord.
Hills,'
Office
Stock
Exchange Bldg., Salt Lake City.
.
•'
Information Meeting—Dec.
i4i(3 pjp,
dress. /
!*'
'5'.;
// '/
,/
'
Semiconductors, inc.
•
Bowling Enterprises,
Inc.
Wide
Reinsurance
—
Burnham
&
"Corp.
Wulpa Parking Systems, Tnc.
Oct.
13,
1961
("Reg.
A")
75,000
Price—$4.
common.
*
Plastics, Inc.
Sept. 8, 1961 ("Reg. A") 100,000 common. Price — $3.
Business—Manufactures plastic hangers and forms/Proceeds
Business—The manufacture of cosmetics. Proceeds—For
i
purchase of equipment and inveiitory and general cprporate, purposes. Office—Washington, D. C. Underwriter
T. Michael McDarby & Co., Inc., Washington, D. C.
New York Telephone Co. * (1Z9/62)
Oct. 2, 1961 Tt was reported ( that this company plans to
sell $60,000,000 \ot mortgage) bonds in January
1962.
Proceeds—For debt repayment and construction. Office
—140
(Business—-Company plans to manufacture a parking* deVice called/ the "Wulpa :Lift." Proceeds—To
open (loca¬
tions and5increase working' capital. .Office—370 Seventh
Ave., N. Y. Underwriter—Ehrlich, Irwin & Cb.,' Inc./N. Y.
Yankee
New World Laboratories, Inc.
Aug. 22, 1961 it was reported that;a "Reg. A" will be
filed shortly covering 100,000 common shares. Yrice—$3.
i
For acquisition of manufacturing facilities and
working capital. Office—29 W. 34th St., N. Y. Under¬
writer—Sunshine Securities Inc., Rego Park, N. Y.
selling stockholders. Office — 234 E. Reservoir
Ave., Milwaukee. Underwriter—Robert W. Baird & Co.,
Milwaukee.
/■/.'•, /.
/■■f.•; ;;/■//;■;
■> '■
:;v,
Bethesda, Md.
:
/Do
-
^Wicfmann
/;'V'
:
'•
you have an issue you're planning to register?
Corporation News -Department would like
to know about it
so
that
we. can
prepare
an
Office—1200 Third Ave., Seattle, Wash. ■Underwriters—
For the stock: None; * For debentures/^(Competitive).
•
■Probable ^bidders: "Halsey, -Stuart
'
£
Inc.;
Morgan
American
World Airways,
Inc.
write
you
us
-telephone
at 25 Park
■
us
at
REctor .2-9570
company's plan to sell its 400,000 share holdings of
sale by July
a
15, T964.-The-stock was originally obtained
Sept. 9, 1958 agreement under which the two
exchange of 400,000
planes during their
'carriers agreed to a share-for-share
shares and lease of each other's jet
similar to those you'll find hereunder.
/Would
respective* busiest seasons. The CAB later-disapproved
this plan and ordered the airlines to divest themselves
of the stock. Office—135 East 42nd St., N. Y. Under¬
or
Place, New (York 7, N. Y.
(L.:F.), lnc. :;'-
writer-—Merrill
1961 filed 162,000 common, of which 102,000 are
to
bejpffered by. the/company and ^60,000 by stockholders, Price—$3. Business—Operates a chain of retail
drug,stores. Proceeds—Expansion,*equipment and workiifg capital". 0 f fie e—738 Be lief on te Ave., Lock Haven, Pa.
"L'-Vjerwriter—Godfrey, Hamilton, Taylor & Co., N. Y.
Lynch, Pierce, Fenner & Smith Inc.:
Roth
Prospective 'Offerings
★ Bank of America N. T./& S. A.
Nov.
6,
1961
Nov.
"vote
21
it
was
reported
*
'
that ^stockholders
are
to
increasing authorized capital stock to
provide for sale of 1,600,000 additional shares to stock¬
/Wiggins Plastics, Inc.
:
& 'Co.
Stanley-& Co.
under
item
Oct. 27,
■
(Competitive).
National Airlines, Inc.
However, it said Pan Am must
start selling the stock within one year and complete the
-Our
Underwriter—Weil & Co., Inc., Washing-
ton, D. C.
.
Y. Underwriters—
Halsey, Stuart & Co. Inc., and Morgan
Pacific Northwest BelUTeiephone Co.
'■<
Aug. 25, Z1961 / it was - announced j that This company
plans to sell an additional 12,990,510 common by June- 30,
1964, and several issues of debentures to refund a $200,000,000 4^% demand note issued to Pacific Tel. & Tel.
The
ATTENTION UNDERWRITERS!
libation-of Technical papers, marketing, product develop-'
ment and Working capital. "Office—4903 Auburn Ave.,
/
St., N.
Stanley & Co. Bids—Expected Jan. 9, 1962.
.Pan
Inc. ';
Oct.-5, T961'filed 65,000" common. Price—$3.75./Business
—Rendering*of consulting Services pertaining-to elec¬
tronic ^system analysis.^ Proceeds—For expansion, pub-
v
West
Probable bidders:
Oct. 30, 1961 it was reported that the CAB had approved
/White Electromagnetics,
;
Corp. 4*"fc" v"'
l">:*
:
*
1961 it was reported that The company plans to
$3,000,000 of/convertible debentures to be offered
boats, * steel1 towers, etc. Proceeds—For * debt repayment
and working'capital. Office—11801 Mach
Ave., Detroit.
Underwriter—Bear, Stearns & Co., N. Y.
—For
.
ad¬
on a pro rata basis tm
common-Stockholders. Business—
Manufactures parking meters,' truck winches, fiberglass
St., Philadelphia. Underwriter—
W. 3rd St., Yankton, S. Dak. Underwriter —Harold R.
-Bell & Associates, Billings, Mont.
Proceeds
shoes.
Chestnut
Sept. 28, 1961 (filed 4,800,000 common. Price—$1. Business—Reinsurance. Proceeds—For capital. Office—214
.
Weyenberg "Shoe Manufacturing Co.
Sept. 29, 1961 "filed '100,000 common. Price—By< amendmen's
same
Nautec
sell
Co., Philadelphia.:.Offering—Expected in Nov.
World
small business investment, company. Proceeds—For
Working capital." Office—9229 Sunset Blvd., Los Angeles,
Calif. Underwriter—Bear, Stearns & Co., N. Y.-/.;-,
of
EST) at
Nov. 6,
'Bldg., "Hamilton, Bermuda. Underwriter
//Co., N/ Y.
'
//■/;.
-—A
Business—'Manufacture
Probable
;/■■/:'*■
■
(12/11-15)
vSept. i 19, T961 filed 100,000 common.'Price—$100. Busi¬
ness—The Fund plans 'To invest
primarily in equity se¬
curities of foreign /issuers. (Office—Bank of /Bermuda
Westland
ment.
Monica ^Blvd.: "Sahta
(Underwriters—(Competitive).
bidders: First Boston * Corp.,
'Equitable Securities Corp.
/(jointly); Halsey,*Stuart &£Co.'Inc.; White, Weld & Co.,
Kidder,:Peabody i& Co. (jointly); Paine, Webber, Jaek^
«on -&
Curtis, Stone & Webster Securities Corp. t(joint¬
ly). Bids—r*Dec^ 6. (II a.m. EST) at 730 /Third Ave., N. Y,
Worldwide FundLtd.
1201
Capital Corp. "(12/4-8)
Sept. 21,1861 Tiled"985;500 common. Price—$11. Business
...
Wide
Fraser &
"
f
Office—2020 /Santa
Calif.
.
_
Business—The publishing* of encyclopedias
Proceeds—For repayment of
(Office—2044
WesUab, Inc.
Oct./27, 1961 ("Reg. A"):80,000 common. 'Price—$2.50.
Bujiness—Design and manufacture of sound and communications
systems, and''components.
Proceeds—For.
general corporate purposes. ;Office—590 Tuckahoe Rd.,
Yonkers, N. Y. ^'Underwriter—^None.
'
Monica,
1961 filed 130,000 common shares. Price—$4.
Business—The operation of bowling centers., Proceeds—
For repayment of
debt, expansion and working capital.
(<12/4-8)
Sept. 20, 1961 ("Reg. A'!) 100,000 capital shares/Price—
$3. Business—Manufacture of semi-conductors for com¬
mercial and military,use. Office—605-G Alton St., Santa
Ana, Calif. Underwriter—Currier & Carlsen, Inc., San
Diego, Calif.
"
-construction.
.
Continental Bank Bldg., Salt Lake
City, Utah/Underwriter—Elmer K. Aagaard, 6 Salt Lake
Western
H.
World Scope Publishers, Inc. (11/27-12/1) '
July 31, 1961 filed 300,000 common" snares./ 'Price—By
World
—$1.50 per share. Proceeds—To be used principally for
the purchase bf additional accounts receivable and also
may be used to liquidate current and long-term liabil¬
•
New* St., 'Decatur, Ga.
Underwriter—-D.
Co., Inc., N. Y. Offering—Imminent.1
(12/6)
.Nov.'8, 1961:it was reported that this company plans;to
sell $25,000,000- of I bonds in December.
Proceeds—For
July "20,
ities.
Page 16.
/• General Telephone Co. of California
/Standard Securities Corp., N. Y.
9412
.June 29, 1960 filed 700,000 shares of common stock/Pries
'
»•••--
-Price—$3.
common.
working capital and general corporate purposes.
^Office—290 Broadway, Lynbrook, N. Y."Underwriter—
Wilshire Blvd., Beverly
Calif JUnderwriter—TVIorris Cohon & Co., N. Y.
—
100,000
debt,
'Western"Factors, Inc.
.
A")
and other reference books.
estate. Proceeds—For debt repayment and
—
•••
("Reg.
dling and packaging food products.- Proceeds—Debt * re—
a new product, sales and working capital. -Of¬
amendment.
due 1976 and 300,000 common shares to be
units, each consisting of $100 of debentures
20 common shares. Price—$200 per Unit.-Business—
working capital. Office
1961
fice—114
in
General "real
•
26,
Blair &
Development Corp.
on
Blvd., Los Angeles, Calif. Underwriter(Los Angeles, Calif.
/payment,
debbritures
offered
Sunset
Appear
Business—Manufacture of. precision equipment Tor han-
■.
V. Sept. 28, 1961 "filed $1,500,000
notification)
Woodman Co.
Sept.
centers primarily in > Califorhia.
Proceeds—For general
■corporate purposes. "Office-^3300 West Olive Avenue,
//Burbank, Calif. 'Underwriter—Hill Richards'& Co. Inc.,"
Los Angeles
Dividend Advertising Notices
(11/20-24)
of
Standard Securities Corp.,
the company
by
present
•r
Coast
(letter
150,000 shares of
common stock. Price—At
par ($2 per share). Proceeds
—To discharge a contract
payable, accounts payable, and
notes payable and the balance for working
capital. Office
Scott, Harvey & Co., Inc., Fairlawn, N. J.
West
1961
6,
47
.
on
20, T961;("Reg.A") 100,000 common. 'Price—$3.
holders on aT-for-16 basis. Office—300 Montgomery St.,
compression, transfer and injection
(San Francisco.
-Underwriters—Dillon, Read & Co., and
molding of ,plastic materials.- Proceeds—For debt re¬
iBlyth & Co., Inc., N. Y.
payment and vgeneral corporate /purposes.
Office—180
it Bebell & Bebe'l Color Laboratories, Inc.
Kingsland Rd., "Clifton, N. J: Underwriter—Investment"
Nov. 6, 1961 it was /reported that a "Reg. A" will be
Planning Group, Inc., East Orange, N. J.
...
Tiled >shortly covering 75,000 common.-Price—$4.>BusiWinner's Liquors
mess—Operates a color photo processing laboratory.-Pro¬
Sept. 113, *1961 ("Reg. A")/100,000 common. Price—$3.
ceeds'*—For expansion, equipment and other corporate
Business—Operation bf- a chain of liquor stores. Proceeds
-purposes.. Office—108 W../24th'St.,,N./Y. Underwriter—
■—For »equipment and ** inveiitory, and acquisition and
Stevens, Hickey-& Co., N. Y.
working capital. Office—596 Orange St., Newark, N. J.
(H.) Davis Toy Corp.
Underwriter—First Weber Securities Corp., N. Y.'
Oct. 30, 1961 Tt was reported that a registration state¬
Winchelf Doughnut House, Inc.
ment will be filed shortly- covering 100,000 units of this
Sept. '26, 1961-filed 90,000 common. Price—By amend'firm's securities. (Each unit will consist of one common
/
merit.'Business — Sale of doughnut mixes to franchised i.share and a warrant to
buy one additional share. Price
operators of doughnut shops Teased from The company.
—*$3.25 per unit. Business— Manufactures educational
Proceeds—For the selling stockholder-Office—1140 W.
-Toys.-Proceeds—For debt repayment, new products and
Main St., Alhambra, Calif. Underwriter—McDonnell /&
other corporate purposes. Office—794 Union" St., Brook¬
Co.. Inc.. N. Y.
lyn, N. Y. Underwriters — Hampstead Investing Corp.,
• Windsor
Aetna Securities Corp., and Atlas Securities Corp., N. Y.
(Kay), Inc. (12/4-8)
/
Sept. 28, -1961 filed 200.000 class A common. Price—By
/ Electro Spectrum Corp.
ameridmertt/Business—Manufacture and sale of women's
Sept.il4, vl961 it was reported that this company plans
1
dresses.''Proceeds—For a selling stockholder. Office—
to file a "Reg. A" covering 100,000 common. Price—$3.
Deane^St., New Bedford, Mass. Underwriter—Lee HigBusiness—Research, development, manufacture and mar¬
ginson Corp., N.Y.
\
'
keting inThe fields of optics, electronics, chemistry and
Windsor Texprint, Inc.
(11/27-12/1)
■photography. Proceeds — For organizational expenses,
Aug. 25, 1961 filed 265,000 common, of which 250,000 are
building lease, machinery, inventory and working cap¬
to be offered by the company and 15,000 by stockholders.
ital. Office—300 Graraatan Ave., Mt. Vernon, N. Y. ;UnPrice-4$2. "Business—The printing Of Towels and other -derwriter—Harry Rovno (same address).
r
textile products."-Proceeds—For
• First
repayment - of loans.
Pennsylvania Banking & Trust Co.
Office—2357 S.-Michigan Ave., Chicago. Underwriter—
Nov.^6, 1961 stockholders voted to increase authorized
Oct.
Greeting Cards Co.
Oct. 18, 1961 it was reported that this company is plan¬
ning its first, public sale of common stock.; Office—Glendale, Calif. Underwriter—R. E. Bernhard & Co., Beverly
Hills, Calif.
/ •
,
Business—Custom
'
"
Southern Pacific* Co.
r
(11/29)
Oct. 16, 1961
sell
it was reported that this company plans to
$7,905,000 of equipment trust certificates. Office—165
Broadway, N. Y. Underwriters—(Competitive).?Probable
Stuart
& Co. Inc. 'Bids—Expected Nov. 29 at 12 noon (EST).
bidders: Salomon Brothers & Hutzler and Halsey,
*
*
r
-
•
-
■
>
•
•
-
.
D. E. Liederman & Co.,
*
•
Inc., N. Y.
Wisconsin'Michigan
Oct.
Power Co.
/
'
•
(11/14)
new
1961 filed $4,000,000 of/first mortgage bonds
due 11991
Office—231 W. Michigan Ave., Milwaukee.
Underwriters—(Competitive). ?Probable biddersr Salo¬
11,
.
Brothers & Hutzler; Halsey, Stuart & Co. Inc.j'Kidder, Peabody & Co.-White, Weld & Co. (jointly). Bids
mon
J
7; r.
stock
*
!
V
to
provide for
a
2-for-*l
shares to stockholders
on
each 12 held of record Nov< 6,
4. Price—To be determined by
split and sale of 394,975
the basis of
one
share for
with rights to expire Dec.
Directors on Nov. 13/Of¬
fice—Philadelphia, Pa. Underwriters — Drexel & Co.,
.Philadelphia; Merrill Lynch, Pierce, Fenner & Smith
Inc., and Smith;"Barney & Co., N. Y.
,
',i''1 J.,\;
7 Southern Railway'Co.
(11/14)
Sept. 19, 1961 it was reported that this company plans
to sell $4,200,000 of equipment trust' certificates • in No¬
vember. Office—70 Pine St., N. Y. Underwriters— (Com¬
petitive). Probable bidders:'»Salomon Brothers & Hutz¬
ler and Halsey. Stuarts Co. Inc. Bids—Expected No v. 14.
Standard & Poor's Corp.
Oct.,13, 1961 it was reported that this company will file
registration statement covering an undisclosed number
of common shares. Business—Furnishes statistical and
a
investment
N. Y.
advisory services. Office—345 Hudson
Underwriter—Smith, Barney & Co., N. Y.
St.,
Teeco Automated Systems, Inc.
Aug. 9, 1961Tit was reported that a ("Reg. A") will be
filed shortly covering 75,000 common shares. < Price—
$3. Business—The custom, design, manufacture and in¬
stallation of automated material handling systems for
large wholesale and Tetail establishments and industry.
For expansion.
Office — 42-14 Greenpoint
Proceeds
—
Ave., Long Island City, N. Y. Underwriters—Earle Secu¬
rities Co., Inc., and Packer-Wilbur & Co., Inc., N .Y.
West
P«m
Power Co.
(3/5)
1961, J. Lee Rice,/Jr., President of Allegheny
Power System, Inc., I parent company, stated that West
Penn expects to sell'about $25,000,000 of bonds in 1962.
Office
800 Cabin Hill Drive, Hempfield Township,
Westmoreland County, Pa. Underwriters—To be deter¬
mined by competitive bidding. Probable bidders: Halsey,,
Stuart & Co. Inc.; W. C. Langley & Co.; Lehman Broth¬
ers; Eastman Mlon,i Union/8eeurities^&/Cd;,( and First
Boston Corp. (Jointly); Harriman RipleyCo.; Kidder,
Peabody & Co. and White,:Weld 6f7Co. (jointly). Bids—
Expected March 5, 1962.
•
Feb.
10,
—
'
48
The Commercial and Financial Chronicle
(2112)
.
.
.
Thursday, November 9, 1961
COMING
WASHINGTON AND YOU
1
•i:
AY EVENTS
BEHIND-THE-SCENES INTERPRETATIONS
r:
FROM THE NATION'S CAPITAL
A
i
iMSji
-vl
WASHINGTON, D. C.
''■K
the
important
Hearing Open Dec. 4
One of
—
IN INVESTMENT FIELD
if'
Several days ago Representative
and Means Committee had a one-
mittee
'■;g
face
Congress in 1962 is a new Trade
Agreement Act.
Weeks of com¬
'J>I!
questions
-"i- V
;
to
Hale
House
the
of
Boggs
Nov.
Ways
26-Dec.
hearings and unquestion¬
ably days and days of debate will
>»
huddle
with
Mr.
is
Beach
mark
•$?,
hour
chairman of the Subcommittee on
of the
propo¬
nedy
m
i:'!
'J ti
fiiv
get
ever,
•
expansion
advocating
The
of
States is
demands
tition.
import
against
Northern
hearing
of
compe¬
rival
ropean
Historically the South has been
j
timent
■>'
in
^lii'■'
<'/;(
•v!'»
four
r
agreements for
These agreements ex¬
Because
v.'ii •;
the
the
of
L.
of
in
pass
effort to get the ball
dent
an
Senators
V',
to rise
gress
,1*
it
protection speeches. Many of the
speeches
were
in
response
to
labor union demands.
Congress¬
men
unemployment
it
trict,
expanding
a
world economic community.
free
is
just
about
chusetts,
of
Some of the very liberal Demo¬
crats,
./•
like
Hubert
Senator
'
2
(i>
b"
are
Senator
and
squirming
a
bit
tions of free tradei.
on some
>
Secretary
was
1959
to
State
of
Administra¬
Eisenhower
the
ton,
H.
Eugene
McCarthy of Minnesota and Sen¬
ator Edmund S. Muskie of Maine,
Humphrey
to Wash¬
came
ington as a member of the House
Representatives from Massa¬
tion from
v
who
of
agreements.
-
1961. Mr. Clay¬
widely known business
Under
Secretary
of
a
was
man,
State for Economic Affairs
in the
Truman Administration when
Marshall
Plan
was
the
or
President
1
we
allowed
will
the
Kennedy
has
ap¬
that the
protectionist sentiment in
this country is going up and up.
to
have
Members
reciprocal laws.
no
of
President
Ken¬
While
,4
'V*
*;
Kennedy
on
has
made
the Herter-
Clayton report, it is apparent that
concurs
with their contention
he
economy.
'
Mr.
direct comment
no
planning some
speeches in support of the trade
plan. Some plugs for the legisla¬
tion have already been inserted
in
speeches
dealing
with
our
win
to
the
of
the
war
half
the
of
The
will
significant
some
i
tions.
There
pertinent
T./. ./'•' ;V>
three
are
the
con
observa¬
/ ;-7a,
billion
people
one-third
About
world.
which
and
pro
The
Communist rule.
live
under
one
billion under Communist do¬
mination live in
tively
with
the
self-contained
trade
domestic
state,
ments
are
of
most
and
trade
mass
resources,
All
of
declares.
report
land
natural
enormous
foreign
the
huge and rela¬
a
their
their
conducted
is
their
because
by
govern¬
totalitarian.
these
of
a
people
in
the
the
major industrial countries —
West plus Japan
and Australia,
possess
economic
preponderant
power.
"This
a
point of critical
im¬
portance," said the Herter-Clayton
report, "for the purpose we have
per
Eighteen
consideration.
under
the
on
The
It
conviction that the
is
way
and
con¬
underdeveloped
poorer
said
document
in the
for
United
the
things that
curtailing of mar¬
some
Latin
some
American
come.
firm
in which
are
the
behest
of
that
the
ments
quate
are
to
and
Trade Agree¬
hopelessly inade¬
present
Act
"is
meet
as
we
conditions
them
see
as
they
develop¬
preponderant
will
be
mining
come
a
major
the
issues
power
the
out¬
of the cold war."
Mutual
of
Banks 43rd annual
Savings
con¬
ference at the Hotel Statler,
Dale Named
To Bar
MINNEAPOLIS, Minn. — Thomas
M. Dale, Jr., associated with Kal& Co., Inc., McKnight Build¬
ing, in their municipal depart¬
ment,
has
been I appointed
a
man
the
of
member
General
Latin
there
America.
is
standards
the
.
.
.
So
long
as
disparity in living
great
between
contested
the
industrial
countries,
to¬
day's rapidly shrinking world will
not be a peaceful place in which
live."
to
Y
•
prior
to, his
Co.
scene" interpretation
may
or
coincide with the "Chronicle's"
views.]
Owen, Barber, Marquart & Wind¬
'.'a':",
horst.
.,
.
_
Schachter
N. Y.
37
"y'■;;
firm
Lafayette
of
name
curities
Maurice
—
engaging
business
curities
62-64
is
Co.
in
from
Ave.
offices
Schachter
was
formerly with Reynolds & Co. and
Oppenheimer & Co.
Form Lee-Mosson Co.
BROOKLYN, N. Y.—Lee-Mosson
& Co., Inc.
offices
has been formed with
2111
at
Aveune L, to en¬
securities business. Of¬
in
a
»
are
President;
—
John H.
formerly
George
Lee
J.
with
-N.
Mosson,
Braunstein,
Both
were
Joseph, Na&ler. &
Co.
College Plaza under
the
direction
Harry E. Ruocco.
of Justin
P.
Ruocco
Attention
Brokers and Dealers
TRADING
MARKETS
1
/
'(*»
V«
Botany
}>
4
Official
'
V?
Harl Marks
FOREIGN
20 BROAD
York
STREET
•
NEW YORK 5, N. Y.,
LERNER & CO., Inc.
TELETYPE NY 1-971
PHILADELPHIA
The Ninth Annual Dinner Dance of the Investment Traders Asso¬
1981
at
Philadelphia will be held
the
Germantown
'X*
/ *
'
■
U:'
Cricket
on
Saturday evening, Nov. 18,
Club.
"
telephone number is
CAnal 6-3840
Investment
10 Post Office
ciation of
>
OF
■
7<
■*
Our New
P.o. Inc.
.
INVESTMENT TRADERS ASSOCIATION
>*
I
&
King
SECURITIES SPECIALISTS
TEL: HANOVER 2-0050
fv?(
Films
Waste
fO*®1
NOTES
.fJ
;
Industries
Maxson Electronics
<
i
at
the
under
American Cement
■
N.
se¬
a
Lafayette Ave. Se¬
Mr.
Secretary-Treasurer.
HAVEN, Conn.
Lewis & Co. has opened a branch
at
■"
• y<:■
Lafayette Ave. Sees.
SUFFERN,
gage
John H. Lewis Branch
office
with tlje
municipal bond section of Dorsey,
ficers
NEW
association
was
.
from the nation's Capital and
own
Mr.
graduate of Michigan Law
a
School,
[This column is intended to reflect
may not
on
the
of
Association.
Bar
with Kalman &
said
Committee
Obligation Bonds
the report, "the
government has instituted import
quotas on lead, zinc, and petrol¬
eum.
For many years there have
been import quotas on sugar and
other
agricultural
commodities.
There
is
an
export subsidy on
the export of our cotton. All of
these
things
are
produced
in
country,"
-
..
Group
Dale,
and
and
(Boston,
1963
Association
politically
powerful minority groups in this
our
is used
factor in deter¬
this
1,
27-May
Mass.)
American
"At
cent of the world's population
two-thirds of its in¬
capacity.
are
countries.
commands
dustrial
of
centrating their subversive efforts
the "behind the
is
hungry
are
result the Communists
and
billion
one-half
surface
Asso¬
earth,
principally
in
the
Tropics and further South. Many
countries, thus, reducing their in¬
report;
discussed
be
makes
in
Issue
War
land
occupy
Traders
Convention.
the
States has done
Cold
side,
Security
National
ing."
nedy's cabinet
,>*
of
If the present laws
expire, of course
present law\
are
extension
superior
will
good
Nations
..The
initiated.
ques¬
pointed a Republican business¬
Protectionist groups are work¬
man,
Howard C. Peterson, as a
ing harder now than they have\ special assistant to aid in coor¬
ever
worked trying to present a
dinating the drive for the legis¬
strong
position
against
trade lation. Mr. Peterson has found out
liberalization
and
either
to
resulted
further
in
Mr. Herter,
in a dis¬
impossible
that the onepeople uncom¬
billion
against oppression and poverty—
and they have given some clear
was
ership
to convince unions that our coun¬
:; r
present authority to
their conviction that
not only should the United States
join the European Common Mar¬
ket,
but should take the lead¬
report
try should expand our free trade
\i
in
board
that when there is sub¬
say
stantial
the
cordinate
resources
Free
of 'our ''times—
question
to
mitted
kets
the floor of the
on
of the
"how
The most surprising part of the
Senate and House and make tariff
said
report
and-a-half
answers."
the
across
negotiate item-by-item.
was
unusual for members of Con¬
not
)'■*
legislation giving the Presi¬
authority to negotiate tariff
place
Defensive
on
During the past session
■1 ■
They said that Congress should
reductions
Liberal
jk
business
mentioned
(Boca Raton, Fla.)
1962
April
The
Representative
been
lenging
ing legislative scrap.
and
civic
leaders at New Orleans early next
year in
Tolling.
Nov. 4,
political instability is rampant. As
connection
(Atlantic City,
nual convention.
of his TIPPLING!"
because
after him
is
Mr. Herter tackled the most chal¬
and
William
Secretary
Economic
tion, President Kennedv is con¬
sidering addressing a Southwide
of
wife
with the forthcom¬
Under
Herter
A.
Christian
Hotel.
Olympic
American Bankers Association an¬
Clayton submitted to the Joint
Committee of Congress
report
State
legislation to his Administra¬
meeting
is after him because of his TIPPING and his
about
that the White
with the bi-par¬
former Secretary of
the
N. J.)
"The SEC
National
apparent
former
importance
at
Sept. 23-26, 1962
Boggs, who has
among
a
half
dozen members
of Congress for
the speakership of the House of
Representatives to succeed Sam
Rayburn, was pleased with the
report. He said Mr. Clayton and
is
tisan
pire next June 30.
■
Banks 42nd annual con¬
ference
Europe.
House is pleased
trade
years.
Savings
to
Herter-Clayton Report
The
Association
National
ciation
the
extended
Congress
reciprocal
'
I '■!!•
A.
1958
(Seattle, Wash.)
of
Mutual
May 6-9, 1962
association.
working
of
Hotel.
a
Association, is now in this coun¬
try beating the drums for the new
are
It
In
Bank¬
America, an¬
nual meeting at the St. Anthony
eral
conditions,
plus an abundance of fresh water
which is a necessity.
if.
,-fi,
of
u
(San Antonio,
1962
Association
ers
blow
a
8-10,
at
Dinner
Tex.)
Incidentally, the secretary-gen¬
of the European Free Trade
South is
there
where
April
As¬
Dealers
Annual
Texas Group of Investment
Eu¬
in Europe
States
United
a
is
course
hope
Security
36th
the Waldorf Astoria Hotel,
The
locating in areas
is
South
the
year-around
1
is the
reason
Industry
try.
V
.'
Why?
changing.
of
longtime
a
form
balancing agriculture with indus¬
v
■
is
paramount
•,*»
.
,
to
supporter of free trade, but sen¬
a
1962 (New York City)
30,
sociation
Association.
Trade
Free
Diplomat
1961 (New York City)
Association
of
Mutual
York
New
seven
the
organization called
division
The
'!4v
;
March
trade
formed
have
the
and
Savings Banks 15th annual mid¬
year meeting.
1
;
in the
Meantime,
effort.
countries
other
employment.
i*-
r
free
a
Six countries joined
initial
labor
from
demands
National
within
consumers
area.
Congressmen are
imports that hurt their particular
■'?■'■
t, H
Dec. 4-5,
of
is aimed at enlarging the number
unions to do something about the
'
the
Common Market of course
The
growing. In¬
both making
are
of
Dec. 4.
The "protectionist" sentiment in
United
Policy
Hotel
Committee
Market, plans to start hearings on
the proposed new legislation on
what he is up against.
dustry and labor
Boggs
Convention at Hollywood
Annual
The Louisianian, who
spent a couple of weeks in Eu¬
rope talking with qualified per¬
sons about the European Common
realizes
President
House
Congress.
trade, and he will seek
legislation passed.
How¬
it
faces
tremendous
ob¬
stacles.
the
/<?
is
Mr.
Economic
Economic
Joint
Ken¬
President
are
.free
our
to
facts
White
the
at
Kennedy.
Foreign
The
I i''
Association
Bankers
Hotel.
consideration
sal.
hr
(Hollywood,
1, 1961
a"-7'.;,;/'..-'v';::.-
'A Fla.)
Investment
Securities-
•
■
1
Square, Boston 9, Mass.
*
/Telephone
....
HUhbard
^
£-1990v:/
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2
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/Teletype
>/BS
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.
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