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Federal R eserve Bank
OF DALLAS
ROBERT

D. M c T E E R , J R .

May 7, 1993

P R E S ID E N T
AND

C H IE F

E X E C U T IV E

DALLAS, TEXAS 75222

O F F IC E R

N o tice 93-54
TO:

The Chief Executive Officer of each
m e m b e r bank and others concerned in
the Eleventh Federal Reserve District
S UBJECT
O ver-the- C o u n t e r (OTC) Margin Stocks
DETAILS

The Board of Governors of the Federal Reserve S y stem has published a
revised list of over-the- c o u n t e r (OTC) stocks that are subject to its margin
regulations, effective May 10, 1993. The Board publishes a c omplete list four
times a year, and the Federal Register announces additions to and deletions
from the list.
The complete list of OTC stocks as of May 10, 1993, is available
from the Public Affairs Department of this Bank upon request.
Included with
the list is a listing of foreign margin stocks.
The foreign margin stocks
listed are foreign equity securities eligible for margin treatment at brokerdealers.
A TTACH M E N T
A t tached is a copy of the Federal Register announcement of revisions
to the list of OTC stocks as shown on pages 25543-46, Vol. 58, No. 79, dated
April 27, 1993.
There are no additions to or deletions from the listing of
foreign margin stocks.
MORE INFORMATION
For more information regarding m arginable OTC stock requirements,
please contact Eugene Coy at (214) 922-6201.
For copies of the complete list
or additional copies of this B a n k ’s notice, please contact the Public Affairs
Department at (214) 922-5254.
Sincerely yours,

For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas:
Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162,
Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

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

25543
Federal Register
Vol. 58, No. 79
T uesday, A pril 27, 1993

FEDERAL RESERVE SYSTEM
12 CFR Parts 207,220, 221 and 224
Regulations G, T, U and X; Securities
Credit Transactions; List cf Marglnable
OTC Stocks; List of Foreign Margin
Stocks
AGENCY: B o a r d o f G o v e r n o r s o f t h e
F e d e r a l Reserve System.

F inal rule; determ ination of
applicability of regulations.
ACTION:

T he List of M arginable OTC
Stocks (OTC List) is com posed of stocks
iraded over-the-counter (OTC) in the
United States that have been determ ined
b y the Board of Governors of the Federal
Reserve System to be subject to the
margin requirem ents u nder curtain
Federal Reserve regulations. T he List of
Foreign M argin Stocks (Foreign List) is
com posed of foreign equity securities
that have m et th e Board's eligibility
criteria u n d e r Regulation T. The OTC
List and the Foreign List are published
four tim es a year by th e Board. T his
docum ent sets forth ad d itio n s to or
deletions from the previous OTC List.
T here are no ad d itio n s to or deletions
from the previous Foreign List. Both
Lists were last pu blished on February 1,
1993 (58 FR 6602) and effective on
February 10.1993.
EFFECTIVE DATE: May 10, 1993.
SUMMARY:

OTC List w ere last pu blished on
February 1,1 993 (58 FR 6602). A copy
of the com plete OTC List is available
from the Federal Reserve Banks.
T he OTC List includ es those stocks
that m eet the criteria in Regulations G,
T an d U (12 CFR parts 207, 220 an d 221,
respectively). T his determ ination also
affects the applicability of Regulation X
(12 CFR part 224). T hese stocks have the
degree of national investor interest, the
depth an d breadth of market, an d the
availability of inform ation respecting
the stock and its issuer to w arrant
regulation in the same fashion as
exchange-traded securities. T he OTC
List also includ es any OTC stock
designated u n d er a Securities and
Exchange Com m ission (SEC) rule as
qualified for trading in the national
m arket system (NMS security).
A dditional OTC stocks may be
designated as NMS securities in the
interim betw een the B oard's quarterly
publications. T hey w ill becom e
autom atically marginable upo n the
effective date of their NMS designation.
T he nam es of these stocks are available
at the Board and the SEC an d will be
incorporated into the Board's next
quarterly publication o f th e OTC List.
T here are no new additions, deletions
or changes to the B oard’s Foreign List,
w hich was last p ublished February 1.
1993 (58 FR 6602) an d effective
February 8,199 3. T his notice serves as
republication of that List w ith a new
effective date of May 10,1993. T h e
Foreign List inclu des those securities
that m eet the criteria in Regulation T
and are eligible for margin treatm ent at
broker-dealers on the sam e basis as
dom estic m argin securities. A copy of
the com plete Foreign List is available
from the Federal Reserve Banks.

FOR FURTHER INFORMATION CONTACT:

Public Comment and Deferred Effective
Date

Peggy W olffrum, Securities Regulation
Analyst, Division of Banking
S upervision and Regulation, (202) 452­
2781, Board of Governors of the Federal
Reserve System , W ashington, DC 20551.
For th e hearing im paired only, contact
Dorothea T hom pson,
T elecom m unications Device for the Deaf
(TDD) at (202) 452-3544.
SUPPLEMENTARY INFORMATION: Listed
below are add ition s to or deletions from
!he OTC List. T h is supersedes the last
OTC List w hich w as effective February
8.1993. A ddition s an d deletions to the

T he requirem ents of 5 U.S.C. 553 w ith
respect to notice and public
participation w ere not follow ed in
connection w ith the issuance of this
am endm ent due to the objective
character of th e criteria for inclusion
and con tinued inclusion on the Lists
specified in 12 CFR 207.6(a) and (b),
220.17(a), (b), (c) an d (d), and 221.7(a)
and (b). No additional useful
inform ation w ould be gained by public
participation. T he full requirem ents of 5
U.S.C. 553 w ith respect to deferred
effective date have not been follow ed in

connection w ith the issuance o f this
am en d m en t because the Board finds
that it is in the pub lic interest to
facilitate investm ent and credit
decisions b ased in w hole or in part
up on the com position of these Lists as
soon as possible. T he Board has
resp on ded to a request by the public
an d allow ed approxim ately a two-week
delay before th e Lists are effective.
List o f Subjects

12 CFR Part 207
Banks, Banking, Credit, Margin,
M argin requirem ents, N ational Market
System (NMS Security), Reporting and
recordkeeping requirem ents, Securities.

12 CFR Part 220
Banks, Banking, Brokers. Credit,
M argin, M argin requirem ents.
Investm ents, N ational M arket System
(NMS Security), Reporting and
recordkeeping requirem ents. Securities,

12 CFR Part 221
Banks, Banking, C redit, Margin.
M argin requirem ents, N ational Market
System (NMS Security), Reporting and
recordkeeping requirem ents. Securities.

12 CFR Part 224
Banks, Banking, Borrowers, Credit,
Margin, M argin requirem ents. Reporting
and recordkeeping requirem ents.
Securities.
A ccordingly, p u rsu an t to the
authority of sections 7 and 23 of the
Securities Exchange Act o f 1934. as
am en ded (15 U.S.C. 78g and 78w), and
in accordance w ith 12 CFR 207.2(k) and
207.6 (Regulation G), 12 CFR 220.2(u)
and 220.17 (Regulation T), an d 12 CFR
221.2(j) and 221.7 (Regulation U), there
is set forth below a listing of deletions
from and ad ditions to the OTC List.
Deletions From the List of Marginable O T C
Stocks

Stocks Removed for Failing Continued Listing
Requirements
A lpha 1 B iom edicals, Inc.
Class B, w arrants (expire 0 6 -3 0 -9 5 )
A m erican Steel a n d W ire C orporation
$.20 par com m on
AKIX C orporation
$.01 p a r common
B.M.J. F inancial C orporation
Rights (expire 0 3 -1 5 -9 3 )
C alend ar C apital, Inc.
5.01 par com m on
C herokee Inc.
$.01 p a r com m on

25544

Federal Register / Vol. 58, No. 79 / Tuesday, April 27, 1993 / Rules and Regulations

Circle Fine A rt C orporation
$.10 par com m on
Cortech, Inc.
Rights (expire 0 5 -2 4 -9 4 )
Crest Industries, Inc.
$.01 par com m on
Everex System s, Inc.
$.001 p ar com m on
First Federal Savings B ank (Puerto Rico)
$1.00 p a r com m on
First Seism ic C orporation
.
$.01 p a r com m on
G reen Isle E nvironm ental Services Inc.
$.183 par com m on
/4
H u nter E nvironm ental Services Inc.
$.10 p ar com m on
Im agine Film s E ntertainm ent, Inc.
W arrants (expire 0 7 -3 0 -9 3 )
Jefferson N ational Bank (New York)
$1.00 par com m on
M ain St. & M ain Inc.
W arrants (expire 0 9 -0 4 -9 6 )
M illfeld T rading Co., Inc.
Class A, w arran ts (expire 0 9 -0 4 -9 6 )
NDE E nvironm ental C orporation
$.001 par com m on
NESB C orporation
$.01 p ar com m on
O ld Stone C orporation
$1.00 par com m on, Series B, 12% preferred
Pacific International Services Corp.
No par com m on
Pen tair Inc.
$1.50 p a r c u m ulative convertible preferred
Ram tron H oldings Lim ited
A m erican D epositary Receipts
RCM T echnologies Inc.
$.05 p a r com m on
R eceptech C orporation
$.01 p ar com m on
Sage A nalytics International Inc.
$.001 par com m on
Sou thern E ducators Life Insurance Co.
$.50 p ar com m on
T ele-C om m unications Inc.
Series A, $1.00 p a r 12% % cum ulative
c o m po und ing redeem able preferred
USBancorp Inc.
Series A, $2,125 par convertible preferred
W ashington M utual Savings Bank
$1.00 par preferred stock

Stocks Removed for Listing on a National
Securities Exchange or Being Involved in an
Acquisition
ADVO, Inc.
$.01 p ar com m on
A lden Press C om pany
$.01 p ar com m on
Allm erica P roperty Sc C asualty Com panies,
Inc.
$1.00 par capital
A pplied Biosystem s Inc.
No p a r com m on
A rm strong Pharm aceuticals, Inc.
$.08 p ar com m on
C linical H om ecare Ltd.
$.01 p ar com m on
Colonial C om panies. Inc.
Class B, non-voting, $1.00 p a r com m on
D FSoutheastem , Inc.
$1.00 par com m on
Diversco, Inc.
$.01 p a r com m on
D om inion Bankshares Corporation
$5.00 p a r com m on

ELM Financial Servicos, Inc.
$.01 par com m on
Fedfirst B ancshares Inc.
$.01 par com m on
First Chattanooga F inancial Corp.
$1.00 p a r com m on
First Federal Savings & Loan A ssociation of
Fort Myers
$.01 par com m on
First Federal Savings Bank (Utah)
$1.00 p ar com m on
Flagler Bank C orporation
Class A, $.10 p a r com m on
Frem ont G eneral C orporation
$1.00 p ar com m on
G enesis H ealth V entures
$.02 par com m on
G lam is Gold Ltd.
No p a r com m on
H arm onia B ancorp Inc.
$.01 p ar com m on
H ealth Images, Inc.
$.01 p ar com m on
H eekin Can, Inc.
$.01 p ar com m on
Im agine Film s E ntertainm ent, Inc.
$.01 p a r com m on
Inforum , Inc.
$.01 p ar com m on
Integra Financial C orporation
$5.00 par com m on
KCS Energy, Inc.
$.01 p ar com m on
Lincoln F inancial C orporation
No p a r com m on, $10.00 stated value
M ercantile B ancorporation Inc.
$5.00 par com m on
M ontclair B ancorp Inc.
$.01 p ar com m on
National Savings Bank of Albany
$1.00 par com m on
New York B ancorp Inc.
$.01 p a r com m on
Piccadilly Cafeterias, Inc.
No par com m on
Pioneer Savings Bank (W ashington)
$1.00 par com m on
Puget S oun d B ancorp
$5.00 par com m on
Security Financial H olding Co.
$.01 p ar com m on
S outh Carolina Federal Corp.
$1.00 par com m on
U nited A m erican H ealthcare Corp.
No par com m on
Valley N ational C orporation
$2.50 par com m on
A dditions to the List of M arginable OTC
Stocks
A irsensors, Inc.
$.001 p a r com m on W arrants (expire 03­
10-96)
A lam o G roup, Inc.
$.10 p a r com m on
A lltrista C orporation
No par com m on
A m cor Lim ited
A m erican D epositary Receipts
A m erican Federal Bank, FSB (South
Carolina)
$1.00 par com m on
Am trol Inc.
$.01 par com m on
A pp lied Signal Technology, Inc.
No par com m on

Argosy G am ing C om pany
$.01 par com m on
A rkansas Best C orporation
Series A, $.01 p a r cu m ulative convertible
exchangeable preferred
ASECO C orporation
$.01 par com m on
A utoim m un e Inc.
$.01 p a r com m on
A vecor C ardiovascular Inc.
$.01 p a r com m on
AVID Technology, Inc.
$.01 p a r com m on
B ancfirst C orporation (Oklahom a)
$1.00 p a r com m on
B ancinsurance C orporation
No par com m on
BHC F inancial, Inc.
$.001 p a r com m on
B iosurface Technology, Inc.
$.01 p a r com m on
BKC S em ico ndu ctor Incorporated
No par com m on
BOCA Research, Inc.
$.01 p a r com m on
Brock C andy C om pany
Class A, $.01 p a r com m on
Brock C ontrol System s, Inc.
No par com m on
Brookstone, Inc.
$.001 par com m on
B runo's, Inc.
C onvertible deb en tures (due 0 9 -01 -20 09)
C am po E lectronics A p p lian ces & C om puters
Inc.
$.10 p a r com m on
C annon Express, Inc.
Class B, non-voting, $.01 p a r com m on
Cascade Savings Bank, FSB (W ashington)
$1.00 p a r com m on
Casino A m erica, Inc.
$.01 p ar com m on
Casino Data System s
No par com m on
C atalytica, Inc.
$.001 p a r com m on
CB B ancshares, Inc. (Hawaii)
$1.00 p a r com m on
Cell G enesys, Inc.
$.001 p a r com m on
C ham pion Indu stries, Inc.
$1.00 p a r com m on
C hesapeake E nergy C orporation
$.01 p a r com m on
C hico ’s Fas, Inc.
$.01 par com m on
Cocensys, Inc.
$.001 par com m on
Com m erce Bank (Virginia)
$.01 p a r com m on
C om m unity B ancorp, Inc. (New York)
7.25% Series B, cum ulative convertible
preferred
C om m unity H ealth C om p utin g Corporation
$.001 p a r com m on
C om puter O utso urcin g Services, Inc.
$.01 p a r com m on
Com verse T echnology, Inc.
$.01 par com m on
Coral Gables Fedcorp, Inc.
$.01 p a r com m on
Cree Research, Inc.
$.01 par com m on
Cryolife, Inc.
$.01 p ar com m on
Cyberonics, Inc.

Federal Register / Vol. 58, No. 79 / Tuesday, April 27, 1993 / Rules and Regulations
$.01 par com m on
Davidson & A ssociates, Inc.
$10.00 p a r com m on
DF&R R estaurants, Inc.
$.01 p a r com m on
E ducation A lternatives, Inc.
$.01 p a r com m on
Energy B iosystem s C orporation
$.01 p a r com m on
E nvirotest System s, Inc.
Class A, $.01 p a r com m on
E quicredit C orporation
$.01 par com m on
Ethical H oldings L im ited
A m erican D epositary R eceipts
Excel T echnology, Inc.
Series 1, $.001 p a r redeem able convertible
preferred, W arrants (expire 0 9 -3 0 -9 7 )
Fastcom m C om m u nications C orporation
$.01 par com m on
Fed O ne Savings Bank, F.S.B. (W est Virginia)
$.10 par com m on
F inancial Institutions Insu ran ce G roup, Ltd.
$1.00 par com m on
First Fam ily Bank, FSB (Florida)
$1.00 p a r com m on
First Federal Savings Bank o f B runsw ick,
Georgia
$1.00 p a r com m on
First Shenango Bancorp, Inc. (Pennsylvania)
$.10 p a r com m on
First Southern Bancorp, Inc. (N orth Carolina)
No par com m on
Fossil, Inc.
$.01 par com m on
Fram ingham Savings Bank (M assachusetts)
W arrants (expire 0 1 -3 1 -9 6 )
Funco, Inc.
$.01 p ar com m on
General N utrition C om panies, Inc.
$.01 p ar com m on
Gilat Satellite N etw orks Ltd.
O rdinary shares (NIS .01)
Global In dustries, Ltd.
$.01 p a r com m on
Global Spill M anagem ent, Inc.
$.001 p a r com m on
G upta C orporation
$.01 par com m on
Gym boree C orporation, T he
$.001 p ar com m on
H ahn A utom otive W arehouse, Inc.
$.01 p a r com m on
H am ilton Bancorp, Inc. (New York)
$.01 par com m on
H ollyw ood Park, Inc.
Depositary shares
IEC E lectronics Corp.
$.01 par com m on
INCO Hom es C orporation
$.01 par com m on
Incom net Inc.
No par com m on
Ind epend ence F ederal Savings Bank
(W ashington, D.C.)
$.01 p a r com m on
In d e p en d e n t E n tertainm ent G roup, Inc.
$.0001 p ar com m on
Intel C orporation
W arrants (expire 0 3 -0 7 -9 8 )
Intelligent Surgical Lasers, Inc.
No par com m on
Intervisual Books, Inc.
No p ar com m on
Intuit Inc.
$.01 par com m on

Jackpot E nterprises, Inc.
W arrants (expire 0 1 -3 1 -9 6 )
Jackson C ounty F ederal Bank, a F ederal
Savings B ank (Oregon)
Series A, $5.00 non-cum ulative convertible
preferred
Jefferson Savings Bancorp, Inc. (M issouri)
$.01 p a r com m on
JMAR Industries, Inc.
$.01 p a r com m on, W arrants (expire 0 2 -1 7 ­
98)
Kenfil Inc.
$.01 p a r com m on
Kinder-Care Learning Centers, Inc.
$.01 p a r com m on, W arrants (expire 0 4 -0 1 ­
97)
L.S.B. Bancshares, Inc. o f S outh Carolina
$2.50 par com m on
L andstar System , Inc.
$.01 p a r com m on
Leasing S olutions, Inc.
No p ar com m on
Liberty T echnologies, Inc.
$.01 p a r com m on
Lomak Petroleum , Inc.
$.01 p a r com m on
Lukens M edical C orporation
$.01 par com m on
Magal S ecurity System s Ltd.
O rdinary shares
M arcum N atural Gas Services, Inc.
$.01 p ar com m on
M arion C apital Holdings, Inc.
No par com m on
M ason-D ixon Bancshares, Inc.
$10.00 p ar com m on
M athsoft, Inc.
$.01 p a r com m on
McGaw, Inc.
$.001 par com m on
M edical Resources, Inc.
$.01 p a r com m on
M icrochip Technology, Inc.
$.001 p a r com m on
M olecular D ynam ics, Inc.
$.01 par com m on
M olten M etal Technology, Inc.
$.01 par com m on
M others W ork, Inc.
$.01 par com m on
N athan's Fam ous, Inc.
$.01 par com m on
N ational C onvenience Stores Incorporated
$.01 p a r com m on
NFO Research, Inc.
$.01 p a r com m on
N orand C orporation
$.01 par com m on
N orthrim Bank (Alaska)
$1.00 par com m on
NSA International, Inc.
$.05 p a r com m on
NUBCO, Inc.
No par com m on
O rchard S u p p ly H ardw are Stores
C orporation
$.01 par com m on
O rthologic C orporation
$.0005 p a r com m on
Pacific S u nw ear of California, Inc.
$.01 p a r com m on
Parallan C om puter, Inc.
No p a r com m on
Patrick Petroleum C om pany
Series B, $1.00 p ar convertible preferred
Penn C entral B ancorp, Inc. (Pennsylvania)

25545

$1.25 p a r com m on
Pennsylvania Gas and W ater
D epositary preferred shares
Peoples B ancorp Inc. (Ohio)
$1.00 p a r com m on
Perceptron, Inc.
$.01 p a r com m on
Petersburg Long D istance Inc.
No p a r com m on
P h ilip E nviro nm ental Inc.
No p a r com m on
Physician C orporation o f A m erica
$.01 p a r com m on
Physician s H ealth Services, Inc.
Class A, $.01 p a r com m on
Pikeville N ational C orporation
$5.00 p ar com m on
PMR C orporation
$.01 p a r com m on
Pow ersoft C orporation
$.00167 p a r com m on
Preferred H ealth Care Ltd.
$.01 p ar com m on
Proxim a C orporation
$.001 Par com m on
Q u antum C orporation
6% % convertible su b ordinated dobontures
du e 2002
Recovery E ngineering, Inc.
$.01 p ar com m on
Regent B ancshares Corp. (Pennsylvania)
Series A, $.10 par convertible preferred
Resound C orporation
$.01 p a r com m on
Rocky Shoes & Boots, Inc.
No p a r com m on
Roosevelt F in an cial G roup, Inc.
6Vi% non c u m u lativ e convertible
preferred
Rouse C om pany, The
Series A, convertible preferred stock
RPM, Inc.
Liquid yield op tion notes d u e 2012
S3 Incorporated
$.0001 par com m on
Sage A lerting System s, Inc.
$.01 p a r com m on
Savoy Pictures E ntertainm ent, Inc.
$.01 p a r com m on
Sham an Pharm aceuticals, Inc.
$.01 p a r com m on
Shared T echnologies Inc.
$.001 p a r com m on
Shoe C arnival, Inc.
$.01 p a r com m on
S ou thern Energy Hom es, Inc.
$.0001 p ar com m on
S pecialty Paperboard, Inc.
$.001 p a r com m on
S tand ard M anagem ent C orporation
No par com m on
Staples, Inc.
5% convertible su b o rd in a te d deben tures
S teph an C om pany, The
$.01 p a r com m on
Sum itom o Bank of C alifornia, T he
D epositary shares
Sun B ancorp, Inc. (Pennsylvania)
$2.50 par com m on
S un rise B ancorp, Inc. (New York)
$.10 p a r com m on
S u p e rc o n d u cto r Technologies Inc.
$10.00 p a r com m on
S u prem a Specialties, Inc.
$.01 p a r com m on
T ecnom atix T echnologies Ltd.

25546

Federal Register / Vol. 58, No. 79 / Tuesday, April 27, 1993 / Rules and Regulations

O rdinary shares (N1S .01 p a r value)
T en co r Instrum ents
No par com m on
T ide W est Oil C om pany
$.01 p ar com m on
Tricord System s, Inc.
$.01 p a r com m on
U.S. Can C orporation
$.01 p ar com m on
U nion Bankshares, Ltd. (Colorado)
$.0001 p a r com m on
U niversal Electronics Inc,
$.01 p ar com m on
Vical Incorporated
$.01 par com m on
Virginia First Savings Bank, F.S.B.
$1.00 p a r com m on
Wall Data Incorporated
No par com m on
W ashington Hom es, Inc.

$.01 par common
Watson Pharmaceuticals, Inc.
$.0033 par com m on
WCT C om m unications, Inc.
No p ar com m on
W ordstar International C orporation
W arrants (expire 0 3 -2 6 -9 6 )
By order of the Board of G overnors o f the
Federal Reserve System , acting by its Director
of the D ivision of B anking S upervision a n d
Regulation p u rsu an t to delegated authority
(12 CFR 265.7(f)(10)), A pril 20.1 993 .

William W. Wiles,

Secretary of the Board.
[FR Doc. 93-9746 Filed 4 -2 6 -9 3 ; 8:45 am)
BILLING CODE (2 1 0 -0 1 - P

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