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F ederal Reserve Bank DALLAS, TEXAS of Dallas 75222 Circular No. 82-30 March 12, 1982 OVER-THE-COUNTER (OTC) MARGIN STOCKS Revised List TO ALL MEMBER BANKS, BROKERS/DEALERS, REGULATION G REGISTRANTS AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: As announced in the Federal Register on November 24, 1981, the Board of Governors of the Federal Reserve System has decided to revise the List of OTC Margin Stocks three times a year. A complete List will be published once a year and two supplements of additions to and deletions from the List will be published twice a year. Printed on the following pages are copies of the Board's press release dated February 26, 1982 and an addendum to the Supplement, effective March 1, 1982. Attached is a copy of the first Supplement to the List of OTC Margin Stocks. The most recent List was issued on October 5, 1981. Questions regarding this circular and the Supplement should be directed to this Bank's Legal Department, Ext. 6171. Additional copies of this circular and Supplement will be furnished upon request to the Department of Communications, Financial and Community Affairs, Ext. 6289. Sincerely yours, William H. Wallace First Vice President Attachment Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank: 1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the extension referred to above. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE press release For use in morning papers Monday, March 1, 1982 February 26, 1982 The Federal Reserve Board today published a Supplement to its list of Over-the-Counter (OTC) stocks that are subject to its margin regulations. The Supplement makes the following changes, effective immediately: — 173 stocks have been included for the first time. — 17 stocks previously on the List have been removed for substantially failing to meet the requirements for continued listing. — 54 stocks have been removed for reasons such as listing on a national securities exchange or the companies were acquired by another firm. The Board previously decided to revise the OTC list three times yearly, at approximate four-month intervals. This will be done by issuing one complete List and two supplements annually. OTC Margin Stocks was issued on October 5, 1981. The last List of With the changes announced today the List now includes 1509 OTC stocks. The Board monitors the market activity of all OTC stocks to determine which stocks meet the requirements for inclusion and continued inclusion on the List of OTC Margin Stocks, and periodically revises the List. Margin regulations generally limit the amount of credit a person or firm may obtain to buy, or carry, securities. Stocks on the List of - 2- OTC Margin Stocks are subject to the same margin requirements (currently 50 percent) as stockslisted on national stock exchanges. This means a person or firm buying a stock on credit must make a down payment equalto at least 50 percent of the purchase price of the stock and may obtain credit for the remaining 50 percent. Margin requirements on OTC stocks apply only to credit extended on the date the stock becomes an extended by banks to purchase or OTC margin stock and thereafter. Credit carry OTC stocks before they appeared on the List becomes subject on that date to the retention and withdrawal requirements of the Board's margin Regulation U if the credit is collateralized by any stock. Such credit previously extended by lenders subject to Regulation G (which governs securities credit by persons other than banks, brokers, or dealers) becomes subject to retention and withdrawal requirements if collateralized by "margin securities." It is unlawful for any person to cause any representation to be made that inclusion of a security on this List indicates that the Board or the Securities and Exchange Commission has in any way approved such security or any transaction therein. Any references to the Board in connection with the List or any securities thereon in any advertisement or similar communication is unlawful. Tho List is published by the Board for the information of lenders and the ger.aral public. ADDENDUM TO SUPPLEMENT TO LIST OF OTC MARGIN STOCKS MARCH 1, 1982 ADVEST GROUP, INC. , THE $1.00 par common BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM SUPPLEMENT TO LIST OF OTC MARGIN STOCKS MARCH 1 , 1982 ADDITIONS TO THE LIST ADAGE, INC. $.10 par common BARTON VALVE COM PANY, INC. $.01 par common AERO SERVICES INTERNATIONAL, INC. No par common BASE TEN SYSTEMS, INC. Class A, $1.00 par common ALLEGHENY & W ESTERN ENERGY CORPORATION $.01 par common BEEFSTEAK CHARLIE'S, INC. $.10 par common ALPHA M ICROSYSTEM S No par common BIOSPHERICS INC. $.01 par common AM ERICAN RECREATION CENTERS, INC. No par common BIOTECH RESEARCH LABORATORIES, $.01 par common AM ICON CORPORATION $.3 3-1/3 par common BIRTCHER CORPORATION, THE $1.00 par ca p ita l ANALYSTS INTERNATIONAL CORPORATION $.10 par common BLISS, A. T. A D COM N PANY, INC. $.01 par common APPLE COM PUTER, INC. No par common BLUE RIDGE REAL ESTATE CO PA Y M N BIG BOULDER CORPORATION Unit, no par common AUSTIN BANCSHARES CORPORATION $1.00 par common AUTOCLAVE ENGINEERS, INC. $.15 par common AVATAR HOLDINGS INC. $1.00 par common BSD M EDICAL CORPORATION $.0005 par common BSN CORPORATION $.01 par common BA K SECURITIES, INC. N $5.00 par common BARRINGER RESOURCES, INC. $.01 par common BOGERT OIL CO PA Y M N $.01 par common BO RA DRILLING CORPORATION N Y $.10 par common BRA Y ENERGY CORPORATION D $.01 par common C-COR ELECTRONICS, INC. $.10 par common CPAC, INC. $.01 par common C3, INC. $.01 par common CABLE TV INDUSTRIES No par common - 2 - CENTURI, INC. $ . 0 5 p a r common DELTA QUEEN STEAM BOAT CO., THE $.25 par common CETUS CORPORATION $.01 par common DELTAK CORPORATION $.01 pr common CHEM-TRONICS, INC. No par common DETECTOR ELECTRONICS CORPORATION $.10 par common CIBOLA ENERGY CORPORATION $.01 par common DIAGNOSTIC/RETRIEVAL SYSTEMS, INC. $.01 par common C M O W LTH REALTY TRUST O M N EA Class A, no par common DIGITAL PRODUCTS CORPORATION $.01 par common COM PUTER ENTRY SYSTEM CORPORATION S $.05 par common DIGITAL SW ITCH CORPORATION $.01 par common COM PUTER MICROFILM CORPORATION $.25 par common D RA O M O D ICRO SYSTEM S No par common COM PUTER TASK GROUP, INC. $.01 par common D EW NATIONAL CORPORATION R $.01 par common CONSOLIDATED CAPITAL INCOM TRUST E No par shares of b e n e f ic ia l i n t e r e s t DREYER'S G N ICE CREAM INC. RA D , No par common CONSOLIDATED PETROLEUM INDUSTRIES, INC. $.10 par common DURALITH CORPORATION No par common CO TY TO ER BANCORPORATION UN W $5.00 par common DYSAN CORPORATION No par common CYM ATICOLOR CORPORATION $.01 par common ECONO-THERM ENERGY SYSTEM S CORPORATION $.15 par common D SYSTEMS, INC. BA $.10 par common D TA I/O CORPORATION A No par common DATAVISION, INC. $.01 par common D W N GEOPHYSICAL CO PA Y A SO M N $.33-1/3 par common DELM ED, INC. $.10 par common DELTA DRILLING CO PA Y M N $.10 par common DELTA PETROLEUM & ENERGY CORPORATION $.01 par common ELDORADO BANCORP ( C a l if o rn ia ) $1.25 par common ELECTRO-BIOLOGY, INC. $1.00 par common ELECTRO-CATHETER CORPORATION $.05 par common ELECTRONICS, MISSILES & COMMUNICATIIONS, INC. $.01-2/3 par common EM LEX CORPORATION U $.10 par common FABRI-TEK INC. $.10 par common - 3 - FAFCO, INC. $ . 1 2 5 p a r common IMMUNO NUCLEAR CORPORATION $ . 0 1 p a r common FEDERATED INVESTORS, INC. Class B, $.05 par common INFOTRON SYSTEM CORPORATION S $.01 par common FIRST AM ERICAN BA K OF PA BEACH CO TY N LM UN Class A, $1.00 par common INTELLIGENT SYSTEM CORP. S $.05 par common FIRST CITY FEDERAL SAVINGS A D LO N ASSOCIATION (Florida ) N A $.01 par common INTER-TEL, INC. No par common FIRST FINANCIAL SAVINGS A D N LO N ASSOCIATION (Wisconsin) A $1.00 par common FOSTER, L. B. CO PA Y M N $.01 pa r common FREQUENCY CONTROL PRODUCTS, INC. $.01 par common G & K SERVICES INC. $.50 par common GTS CORPORATION $.01 par common GEOPHYSICAL SYSTEM CORPORATION S $1.00 par common GIBRALTAR EXPLORATION, LTD. $.01 pa r common GRIFFIN PETROLEUM CORPORATION No par common H & CO PA Y BO M N $.05 par common HERITAGE COMMUNICATIONS, INC. No par c o n v e r t ib le p refe rred IPL SYSTEMS, INC. Class A, $.01 par common INTERGRAPH CORPORATION $.10 par common INTERMAGNETICS GENERAL CORPORATION $.10 par common INTERNATIONAL INCOM PROPERTY INC. E $.01 par common INTERSTATE M TO FREIGHT SYSTEM O R $1.00 par common ISOM CORPORATION ET $1.00 par common JAMAICA W TER PROPERTIES INC. A $.10 par common JONES INTERCABLE, INC. Class A, $.01 par common K-TRON INTERNATIONAL, INC. $.01 par common KELLY-JOHNSTON ENTERPRISES, INC. $1.00 par common KENCOPE ENERGY COMPANIES $.10 par common K YLE TECHNOLOGY CORPORATION No par common LIEBERT CORPORATION No par common ISSC INDUSTRIAL SOLID STATE CONTROLS, INC. $1.00 par common LIZ CLAIBORNE, INC. $1.00 par common IKE LOVELADY, INC. $1.00 par common M N G EN SCIENCE AMERICA, INC. A A EM T $.0025 par common - 4 - MATRIX SCIENCE CORPORATION $ . 0 1 p a r common NUMERAX, INC. $ . 0 1 p a r common M EDICAL GRAPHICS CORPORATION $.05 par common NUTRI/SYSTEM, INC. $.01 par common M ICOM SYSTEMS, INC. No par common OBJECT RECOGNITION SYSTEMS, INC. $.01 par common M W Y AIRLINES, INC. ID A $.01 par common MIZEL PETRO RESOURCES, INC. No par common M N RCH AVA N INC. OA LO $.25 par common N H M & W G N ENERGY CO PA Y AA A EA A T M N No par common OCILLA INDUSTRIES, INC. $.01 par common OGLEBAY NO N CO PA Y RTO M N $1.00 par common OLSON FARMS, INC. $3.00 par common ORBIT INSTRUM ENT CORPORATION Warrants (e xpire 03/09/86) NATIONAL BANCSHARES CORPORATION OF TEXAS $5.00 par common ORIGINALA PETROLEUM CORP. $.10 par common NATIONAL CITY BANCORPORATION (Minnesota) $1.25 par common OXYGEN ENRICHM ENT COM PANY, LTD. $.01 par common NAUTILUS FUND, INC. $1.00 par common PARTNERS OIL CO PA Y M N $.01 par common NELSON RESEARCH & DEVELOPM ENT CO PA Y M N No par common PENNBANCORP $5.00 par common NIKE, INC. Class B, no par common NORPAC EXPLORATION SERVICES, INC. $.20 par common NO RTH EAST INSURANCE CO PA Y M N $1.00 par common NORTHEAST ENERGY DEVELOPM ENT CORPORATION No pa r common # NORTHEASTERN BANCORP, INC. (Pennsylvania) $10.00 par common NOVAM ETRIX M EDICAL SYSTEM INC. S $.01 par common PERM EATOR CORPORATION $.10 par common PETROLEUM HELICOPTERS, INC. Non-voting, $.08-1/3 par common PIZZA TIME THEATRE, INC. No par common PRAIRIE PRODUCING CO PA Y M N $.01 par common PRODUCTION OPERATORS CORPORATION 9.25% c o n v e r t ib le subordinated debentures QUIXOTE CORPORATION $.01-2/3 par common - 5 - REPUBLIC RESOURCES CORPORATION $ . 0 1 p a r common SWANTON CORPORATION $ . 1 0 p a r common RIO VERDE ENERGY CORPORPORATION $.10 par common SYNCOR INTERNATIONAL CORPORATION $.01 par common SEI CORPORATION $.01 par common SYNTECH INTERNATIONAL, INC. $.10 par common SATELLITE TELEVISION & ASSOCIATED RESOURCES, INC. $.01 par common TA D N CORPORATION NO $.01 par common SAXON OIL CO PA Y M N $.10 par common SCAN-OPTICS, INC. $.02 par common SCIENTIFIC RADIO SYSTEMS, INC. $.01 par common SCOTT INSTRUM ENTS CORPORATION $.01 par common SEA GALLEY STORES, INC. $.05 par common SEVEN OAKS INTERNATIONAL, INC. $.10 par common SILICON SYSTEM INC. S No par common SKIPPER'S, INC. $.10 par common SOFTW ARE A SYSTEM GROUP, INC. G S $.01 pa r common SPECIALIZED SYSTEMS, INC. No par common STEIGER TRACTOR, INC. $1.00 par common STERLING PIPE & SUPPLY CO PA Y M N $.01 pa r common SUM IT BANCORPOATION, THE M No par common SURVIVAL TECHNOLOGY, INC. $.10 par common TEECO PROPERTIES LTD. Units of lim ited p a r tn e rs h i p i n t e r e s t TEXAS ENERGIES, INC. $.10 par common TIMES FIBER COMM UNICATIONS, INC. $1.00 par common TRANSDUCER SYSTEMS, INC. No par common TRANSNET CORPORATION $.01 par common ULTRASYSTEM INC. S No par common UNITED TELEVISION, INC. $.10 par common VELO-BIND, INC. $1.00 par common VENTREX LABORATORIES, INC. $.01 par common VIRATEK, INC. $.10 par common W TERM N M A A ARINE CORPORATION $1.00 par common W ESTLANDS BA K ( C a li f o rn i a ) N $1.25 par common W M O CABLE TV, INC. O ETC $1.00 par common X G INTERNATIONAL, INC. R $.001 par common ZENTEC CORPORATION No par common - 6 - DELETIONS FROM THE LIST * API TRUST $1.00 par shares of b e n ef icial i n t e r e s t A E ELECTRIC CORPORATION CM $1.00 par common ALEXANDER & ALEXANDER SERVICES INC. $1.00 par common ALLIED TELEPHONE CO PA Y M N $2.00 par common COMMERCE SOUTHWEST INC. $ 1 . 0 0 p a r common D TA M CORPORATION A RA $1.00 par common D N FOODS CO PA Y EA M N $1.00 par common D U FINANCIAL CORPORATION RM $1.00 par common ALTON PACKAGING CORPORATION $5.00 par common * EATON CORPORATION Se ries A, no par c o n v e r tib le pr efer r ed ANDERSON, G REEN O D WO No par common * FIRST EXECUTIVE CORPORATION $1.00 par c o nvertible pr ef er red & CO. ANTA CORPORATION $1.00 par common FIRST NEW PORT CORPORATION $1.00 par common APPLICON INC. $.05 par common FIRST SAVINGS A D LO N N A ASSOCIATION ( C a lif o rn ia ) No par common BALLY'S PARK PLACE, INC. $.10 par common BEARD OIL CO PA Y M N $.05 par common BEEHIVE INTERNATIONAL Paired c e r t i f i c a t e s , $.02 par common BENTLEY LABORATORIES INC. $.10 par common BOSTON COM PANY, THE Class B, $1.00 par common BROCK HOTEL CORPORATION $.10 par common CENTRAL V O T PUBLIC ERM N SERVICE CORPORATION $6.00 par common * COASTAL INDUSTRIES, INC. $.25 par common FIRST STATE BANKING CORPORATION $5.00 par common FLOATING POINT SYSTEMS, INC. No par common G C ENERGY CORPORATION N $.40 par common G LA Y OIL CO PA Y A X M N 9% c o n v e r ti b le subordinated debentures * G LD M O EDALLION CORPORATION $.10 par common GOVERNM ENT EM PLOYEES LIFE INSURANCE CM N O PA Y $1.50 par common * GRAPHIC SCANNING CORPORATION 10% c o n v e r ti b l e subordinated debentures GREEN M OUNTAIN PO ER CORPORATION W $3.33-1/3 par common * Removed f o r f a i l i n g continued l i s t i n g requirement. - 7 - GULFSTREAM BANKS, INC. $ 1 . 0 0 p a r common * NEW VIRGINIABANCORPORATION $ 1 . 0 0 p a r common NO RTH EUROPEAN OIL ROYALTY TRUST No par u n i t s of be n e f i c ia l interest HYATT INTERNATIONAL CORPORATION Class A, $.10 par common INTEGRITY ENTERTAINM ENT CORPORATION $.01 par common NORTHERN STATES BANCORPORATION, INC. $5.00 par common KDI CORPORATION $.35 par common OLSTEN CORPORATION, THE $.10 par common * K O OIL CO PA Y ELD N M N No par common PAYLESS CASHW AYS, INC. $.50 par common KENT-M OORE CORPORATION $1.00 par common POSTAL INSTANT PRESS No par common KINNARD COMPANIES, INC. $.10 par common PREMIER RESOURCES, LTD. No par c^nmon * M COM UNICATIONS CORPORATION CI M $1.84 par cumulative c o nvertible prefe rred M RCA E GROUP INC. A D $.10 par common PRESIDIO OIL CO PA Y M N $.10 par comrapn * Q CORPORATION 1 $.01 par common M Y W CORPORATION A FLO ER No par common RAPI DATA, INC. $.01 par common M ERCANTILE BANKSHARES CORPORATION (Maryland) N par cumulative c o n v er tib le o pr ef er red RUSSELL STOVER CANDIES, INC. $1.00 par common M EYER, FRED INC. No par common MID-AMERICA INDUSTRIES, INC. $1.00 par common NBI, INC. $.10 par common ★ SOUTHLAND BANCORPORATION $2.50 par common SOUTHW ESTERN ENERGY CO PA Y M N $2.50 par common * STROTHER D G CO PA Y RU M N $2.00 par common T G BANCSHARES CO PA Y M N $5.00 par common NATIONAL O LINE INSURANCE CO PA Y LD M N Class BB, $1.00 par common N A A SAVINGS A D LO N ASSOCIATION EV D N A $.3277 par c ap ital * ★ * T.I.M.E. - DC, INC. $2.00 par common S er ies A, $10.00 par cumulative c o n v e r ti b l e pr ef er red Removed f o r f a i l i n g continued l i s t i n g requirement. - 8- UA-COLUMBIA CABLEVISION, INC. $.05 par common UNIT DRILLING & EXPLORATION C M A Y OPN $.20 par com on m UNITED B N CORPORATION O N W Y R AK F E OK $5.00 par com on m * UNITED CABLE TELEVISION CORPORATION $.10 par common * W LTER REALTY INVESTORS, INC. A $.10 par com on m W ESTER G A CORPORATION N ER $1.00 par com on m Removed for fa llin g continued lis tin g requirement
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