View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Fe

d e r a R
^

eserve

Bank

OF DALLAS
W IL L IA M

H. W ALLACE

DALLAS, TEXAS 7 5 2 2 2

FIRST V IC E PR ES ID EN T
AND CH IE F O PER ATING O FFIC ER

May 10, 1988
Circular 88-32
TO:

The Chief Executive Officer of all
member banks and others concerned in
the Eleventh Federal Reserve District

SUBJECT
Over-the-counter (OTC) Margin Stocks
DETAILS
The Board of Governors of the Federal Reserve System has revised the
list of over-the-counter (OTC) stocks that are subject to its margin
regulations. These revisions are effective immediately, and are additions to
the OTC list published February 8, 1988.
Federal Reserve Banks publish a complete list once a year and publish
supplements of additions to and deletions from the list three times a year.
The complete list of OTC stocks effective February 8, 1988, is available from
the Public Affairs Department.

ATTACHMENTS
Revisions, as published by the Federal Register, are attached.
revisions are effective as of May 9, 1988.

These

MORE INFORMATION
For further information regarding marginable OTC stock requirements,
please contact Dean A. Pankonien at (214) 651-6228. For a copy of the
February 8, 1988, list of OTC stocks, please call Tony West at (214) 651-6266.
Sincerely yours,

For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are
encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800)
527-9200 (interstate).

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

Federal Register / Vol. 53, No. 82 / Thursday, April 28, 1988 / Rules and Regulations

FEDERAL RESERVE SYSTEM
12 CFR Parts 207,220,221 and 224
Regulations G, T, U and X; Securities
Credit Transactions; List of Marginable
OTC Stocks
a g e n c y : Board of Governors of the
Federal Reserve System.
ACTION: Final rule; determination of
applicability of regulations.

The List of Marginable OTC
Stocks is comprised of stocks traded
over-the-counter (OTC) that have been
determined by the Board of Governors
of the Federal Reserve System to be
subject to the margin requirements
under certain Federal Reserve
regulations. The List is published four
times a year by the Board as a guide for
lenders subject to the regulations and
the general public. This document sets
forth additions to or deletions from the
previously published List effective
February 8,1988, and will serve to give
notice to the public about the changed
status of certain stocks.
EFFECTIVE DATE: May 9,1988.
su m m ary :

FOR FURTHER INFORMATION CONTACT:

Peggy Wolffrum, Securities Regulation
Analyst, Division of Banking
Supervision and Regulation, (202) 4522781. For the hearing impaired only,
Earnestine Hill or Dorothea Thompson,
Telecommunications Device for the Deaf
(TDD) (202) 452-3544, Board of
Governors of the Federal Reserve
System, Washington, DC 20551.
SUPPLEMENTARY INFORMATION: Set forth
below are stocks representing additions
to or deletions from the Board’s List of
Marginable OTC Stocks. A copy of the
complete List incorporating these
additions and deletions is available
from the Federal Reserve Banks. This
List supersedes the last complete List
which was effective February 8,1988.
(Additions and deletions for that List
were published at 53 FR 2998, February
3,1988). The current List includes those
stocks that meet the criteria specified by
the Board of Governors in Regulations
G, T, U and X (12 CFR Parts 207, 220, 221
and 224, respectively). These stocks
have the degree of national investor
interest, the depth and breadth of
market, and the availability of
information respecting the stock and its
issuer to warrant regulation in the same

fashion as exchange-traded securities.
The List also includes any stock
designated under an SEC rule as
qualified for trading in the national
market system (NMS Security).
Additional OTC stocks may be
designated as NMS securities in the
interim between the Board's quarterly
publications. They will become
automatically marginable at brokerdealers upon the effective date of their
NMS designation. The names of these
stocks are available at the Board and
the Securities and Exchange
Commission and will be incorporated
into the Board’s next quarterly List.
The requirements of 5 U.S.C. 553 with
respect to notice and public
participation were not followed in
connection with the issuance of this
amendment due to the objective
character of the criteria for inclusion
and continued inclusion on the List
specified in 12 CFR 207.6 (a) and (b),
220.17 (a) and (b), and 221.7 (a) and (b).
No additional useful information would
be gained by public participation. The
full requirements of 5 U.S.C. 553 with
respect to deferred effective date have
not been followed in connection with
the issuance of this amendment because
the Board finds that it is in the public
interest to facilitate investment and
credit decisions based in whole or in
part upon the composition of this List as
soon as possible. The Board has
responded to a request by the public and
allowed a two-week delay before the
List is effective.
List of Subjects
12 CFR Part 207
Banks, Banking, Credit, Federal
Reserve System, Margin, Margin
requirements, National Market System
(NMS Security), Reporting and
recordkeeping requirements, Securities.
12 CFR Part 220
Banks, Banking, Brokers, Credit,
Federal Reserve System, Margin, Margin
requirements, Investments, National
Market System (NMS Security),
Reporting and recordkeeping
requirements, Securities.
12 CFR Part 221
Banks, Banking, Credit, Federal
Reserve System, Margin, Margin
requirements, National Market System
(NMS Security), Reporting and
recordkeeping requirements, Securities.
12 CFR Part 224
Banks, Banking, Borrowers, Credit
Federal Reserve System, Margin, Margin
requirements, Reporting and
recordkeeping requirements, Securities.

15195

Accordingly, pursuant to the authority
of sections 7 and 23 of the Securities
Exchange Act of 1934, as amended (15
U.S.C. 78g and 78w), and in accordance
with 12 CFR 207.2(k) and 207.6(c)
(Regulation G), 12 CFR 220.2(s) and
220.17(c) (Regulation T), and 12 CFR
221.2(j) and 221.7(c) (Regulation U),
there is set forth below a listing of
deletions from and additions to the
Board’s List:
Deletions From List
Stocks Removed for Failing Continued
Listing Requirements
American Cruise Lines, Inc.
$.01 par common
Barton Industries, Inc.
$.01 par common
Brentwood Instruments, Inc.
No par common
Burnham Service Corporation
No par common
Burton/Hawks, Inc.
.01 par common
Cel Communications, Inc.
$.01 par common
Chesapeake Industries, Inc.
$1.00 par common
Commonwealth Savings Association
No par common
Community Savings Bank
$.10 par common
Community Shares Ltd.
$.10 par common
Continental Federal Savings &Loan
Association (Oklahoma)
$.01 par common
Control Laser International Corporation
$.01 par common
CPL Real Estate Investment Trust
No par shares of beneficial interest
Craft World International, Inc.
$.01 par common
Cushman Electronics, Inc.
No par common
Delta Data Systems Corp.
$.01 par common
Desinghouse International, Inc.
$.10 par common
Diversified Human Resources Group,
Inc.
$.10 par common
Eldorado Motor Corporation
No par common
Equipment Company of America Inc.
$.10 par common
First Interstate Corporation of Alaska
$2.00 par common
Florafax International, Inc.
$.06% par common
General Kinetics Incorporated
$.25 par common
IDC Services Inc.
$.25 par common
Magma Energy, Inc.
$.02 par common

15196

Federal Register / Vol. 53, No. 82 / Thursday, April 28, 1988 / Rules and Regulations

Meiridge, Inc.
$.01 par common
Merchant Bank of California, The
No par common
Mid Pacific Air Corporation
No par common
National Royalty Corporation
$.01 par common
Neti Technologies Inc.
No par common
Northview Corporation
$.01 par common
Nova Pharmaceutical Corp.
Class A, warrants (expire 02-05-88)
Occidental/Nebraska Federal Savings
Bank
$1.00 par common
Occupational Medical Corporation of
America, Inc.
No par common
Paperboard Industries Corporation
No par common
Po Folks, Inc.
$.10 par common
Poe & Associates, Inc.
$.10 par common
Pre-Paid Legal Services, Inc.
Warrants (exp. 11-30-88)
Preway Inc.
$.50 par common
Pullman Company
Warrants (exp. 02-24-88)
Roadrunner Enterprises, Inc.
No par common
Rockwood National Corporation
No par common
Savoy Industries, Inc.
$.01 par common
Shatterproof Glass Corporation
$.50 par common
Shoreline Savings Bank
$.50 par common
Sigmaform Corporation
$.11335 par common
Stewart Sandwiches, Inc.
$1.00 par common
Sunworld International Airways, Inc.
$.20 par common
Telemation, Inc.
$.01 par common
Tots Plus, Inc.
$.01 par common
Triton Energy Corporation
Warrants (expire 11-15-89)
Triton Group Ltd.
Series C, $1.20 par convertible
preferred
Video Library, Inc.
No par common
Waste Technology Corp.
$.01 par common
Westwood Group, Inc., The
$.01 par common
Stocks Removed for Listing on a
National Securities Exchange or Being
Involved in an Acquisition
Aaron Brothers Art Marts, Inc.
$.01 par commor

Addison-Wesley Publishing Company,
Inc.
Class B, no par common
Allied Bancshares, Inc. (Texas)
$1.00 par common
Altemacare Corporation
$.05 par common
Apple Bank for Savings (New York)
$1.00 par common
Baltimore Bancorp (Maryland)
$5.00 par common
Barr Laboratories, Inc.
$.01 par common
Birmingham Steel Corporation
$.01 par common
BR Communications
No par common
Buffton Corporation
$.05 par common
Businessland, Inc.
No par common
5Vz% convertible subordinated
debentures
8% convertible subordinated
debentures
California Energy Company, Inc.
$.0675 par common
Calny, Inc.
$.01 par common
Careercom Corporation
$.01 par common
CCC Information Services, Inc.
$.01 par common
Central Bancorporation, Inc. (Ohio)
$5.00 par common
Central Wisconsin Bankshares, Inc.
$.50 par common
Chase Medical Group, Inc.
$.01 par common
Collins Industries, Inc.
$.10 par common
Columbia Pictures Entertainment
$.10 par common
Warrants (expire 06-01-92)
Warrants (expire 12-31-93)
Craft House Corporation
$.10 par common
Cycare Systems, Inc.
$.01 par common
Crossland Savings, FSB (New York)
$1.00 par common
Series A, cumulative convertible
preferred
Series B, $12.75 cumulative preferred
Dicomed Corporation
$.03 par common
Dime Savings Bank of New York, F.§.B.
$1.00 par common
Dixon Ticonderoga Company
$1.00 par common
EMC Corporation
$.01 par common
Essex Communications Corporation
Class A, $.01 par common
First Empire State Corporation
$5.00 par common
Fidelcor, Inc.
$1.00 par common
Series A, $1.00 par convertible

preferred
Series B, $1.00 par convertible
preferred
First Fidelity Bancorporation
Series C, $4.00 par cumulative
convertible preferred
First Republic Bancorp, Inc.
$.01 par common
First Jersey National Corporation
$5.00 par common
Series B, $1.00 par cumulative
convertible preferred
First Valley Corporation
$1.00 par common
Florida Commercial Banks, Inc.
$1.00 par common
Frost & Sullivan, Inc.
$.01 par common
Gainsco, Inc.
$.01 par common
Genentech, Inc.
$.02 par common
Genmar Industries, Inc.
$.01 par common
Gibson, C.R. Company, The
$.10 par common
Great Western Savings Bank
$.01 par common
Horizons Research, Inc.
No par common
Incstar Corporation
$.01 par common
Innovative Software Inc.
$.01 par common
International Telecharge, Inc.
$.01 par common
Iverson Technology Corp.
$.01 par common
Kincaid Furniture Company, Inc.
$1.33 V par common
b
Life Investors Inc.
$1.00 par common
Linear Corporation
$.01 par common
Marine Corp. (Wisconsin)
$2.50 par common
Metrobank N.A. (California)
$1.66 par common
Morgan Products Ltd.
$.10 par common
North American Communications
Corporation
$.01 par common
Norwesco, Inc.
$.10 par common
Owens and Minor Inc.
$2.00 par common
Paco Pharmaceutical Services, Inc.
Warrants (expire 12-31-88)
Rowley-Scher Reprographics, Inc.
$.01 par common
Royal Apex Silver, Inc.
$.05 par common
Scientific Systems Services, Inc.
$.01 par common
Seaman Furniture Company, Inc.
$.01 par common
Shawmut Corporation

Federal Register / Vol. 53, No. 82 / Thursday, April 28, 1988 / Rules and Regulations
$5.00 par common
Shoe City Corporation
$.10 par common
Software AG Systems, Inc.
$.01 par common
Spartech Corporation
$.75 par common
Staniadyne, Inc.
$2.50 par common
Sunstates Corporation
$.10 par common
$25.00 par preferred
Sylvan Learning Corp.
$.01 par common
Symbol Technologies, Inc.
$.01 par common
System Integrators, Inc.
No par common
Tenera, L. P.
Units of limited partnership interest
Westcorp
$1.00 par common

Additions to the List
Addington Resources, Inc.
No par common
Advantage Companies, Inc.
$1.00 par common
Warrants (expire 10-13-89)
Alliance Imaging Inc.
$.01 par common
Altera Corporation
No par common
American Consulting Corporation, Inc.
$.01 par common
Atlantic Group, Inc., The
$.05 par common
Avondale Industries, Inc.
$1.00 par common
Belmoral Mines Ltd.
No par common
Biotherapeutics Incorporated
Series A, $1.00 par convertible
preferred
Bull Run Gold Mines, Ltd.
$.01 par common
Central Corporation
$.01 par common
Charter One Financial, Inc.
$.01 par common
Comerica Inc.
Series B, $4.32 par cumulative
convertible preferred
Compucom Systems, Inc.
No par common
CXR Telcom Corporation
$.0033 par common
CYTRX Corporation
$.001 par common
Warrants (expire 11-09-91)
Datakey, Inc.
$.05 par common
Eastern Environmental Services, Inc.
$.01 par common
Eastmaque Gold Mines Ltd.
No par common
Empire Insurance Company
$1.00 par common
Epitope, Inc.

No par common
Evansville Federal Savings Bank
(Indiana)
$1.00 par common
Exploration Company of Louisiana, Inc.,
th e
$.01 par common
Fair, Isaac and Company, Incorporated
$.01 par common
First Franklin Corporation
$.01 par common
First Work Cheese, Inc.
$.01 par common
Warrants (expire 06-05-91)
GBCJJancorp (California)
No par common
Geraghty & Miller, Inc.
$.01 par common
Green, A.P. Industries, Inc.
$1.00 par common
Holiday RV Superstars, Inc.
$.01 par common
Home Federal Savings Bank (Indiana)
$.01 par common
International Consumer Brands, Inc.
$.01 par common
Iowa National Bankshares Corp.
$12.50 par common
Jaco Electronics, Inc.
$.10 par common
Jones Spacelink, Ltd.
Class A, $.01 par common
JRM Holdings, Inc.
$.01 par common
Kimmons Environmental Service Corp.
$.001 par common
Maione-Hirschberg Companies, Inc.
No par common
Mallard Coach Company, Inc.
$.01 par common
Max & Erma’s Restaurants, Inc.
$.10 par common
Warrants (expire 10-07-88)
Maxim Integrated Products, Inc.
$.001 par common
Midfed Savings Bank (Ohio)
$.01 par common
Mobile National Corporation
$1.00 par common
Monmouth Real Estate Investment Trust
No par common
Moto Photo, Inc.
$.01 par cumulative convertible
preferred
Warrants (expire 11-25-89)
Mutual Federal Savings Bank, A Stock
Corp. (Ohio)
$1.00 par common
N-W Group, Inc.
$.01 par common
Nevada Goldfields Corporation
No par common
New York Bancorp, Inc.
$.01 par common
Octel Communications Corporation
No par common
Osborn Communications Corporation
$.01 par common
Peoples Federal Savings Bank of DeKalb
County

15197

$1.00 par common
Polifly Financial Corporation
$.10 par common
Portsmouth Bankshares, Inc. (New
Hampshire)
$.10 par common
Repap Enterprises Corporation
Subordinated, voting common stock
Republic Bancorp Inc. (Michigan)
$5.00 par common
Royal Bank of Pennsylvania
Class A, $2.00 par common
Sanderson Farms, Inc.
$1.00 par common
Sellersville Savings and Loan
Association (Pennsylvania)
$1.00 par common
Southern Mineral Corporation
$.01 par common
Taylor, S. Companies, Inc.
$.001 par common
Timberline Software Corporation
No par common
Trans Financial Bancorp, Inc.
(Kentucky)
No par common
Tudor Corporation Ltd.
No par common
US West Newvector Group, Inc.
Class A, no par common
Vanguard Cellular Systems, Inc.
$.01 par common
Varitronic Systems, Inc.
$.01 par common
Vitalink Communications Corporation
$.01 par common
Wisconsin Toy Company, Inc.
$.01 par common
Z-Seven Fund, Inc., The
$1.00 par common
By order of the Board of Governors of
the Federal Reserve System acting by its
Staff Director of the Division of Banking
Supervision and Regulation pursuant to
delegated authority (12 CFR 265.2(c)(18)),
Apr. 25,1988.
William W. Wiles,
Secretary of the Board.
[FR Doc. 88-9302 Filed 4-27-88; 8:45 am]
BILLING CODE 6210- 01-M


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102