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F E D E R A L R E S E R V E BANK O F N EW Y O R K ftrci/z f \ j c F/63 August 17, 1977 LIST OF OTC MARGIN STOCKS As of August 15, 1977 To All Persons Extending Securities Credit in the Second Federal Reserve District: Following is the text of a statement issued August 15 by the Board of Governors of the Federal Reserve System: The Board of Governors of the Federal Reserve System today published a revised list of over-the-counter (OTC) stocks that are subject to its margin regulations, effective immediately. The List supersedes the revised List of OTC Margin Stocks that was issued on December 30, 1976. Changes that have been made in the List, which now includes 1106 OTC stocks, are as follows: — 195 stocks have been included for the first time. — 13 stocks previously on the List have been removed for substantially failing to meet the requirements for continued listing. — h 3 stocks have been removed because they are now listed on a national securities exchange or the companies were acquired by another firm. 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 period ically 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 OTC Margin Stocks are subject to the same margin requirements (currently 50 per cent) as stocks listed on national stock exchanges. This means a person or firm buying a stock on (Over) credit must make a down payment equal to at least 50 per cent of the purchase price of the stock and may obtain credit for the remaining 50 per cent. Margin requirements on OTC stocks apply only to credit extended on the date the stock becomes an OTC margin stock and thereafter. Credit extended by banks to purchase or 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 ex tended 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. The List is published by the Board for the information of lenders and the general public. The Board of Governors' revised List of OTC Margin Stocks referred to in the above statement will be sent to you as soon as copies become available. In the meantime, we are enclosing for your information the names of the 195 stocks that have been added to the List, the 13 stocks that have been deleted from the List for failing to meet the requirements of listing, and the 43 stocks that have been removed from the List because they are now listed on a national securities exchange or the companies have been acquired by another firm. Any questions regarding this matter may be directed to our Regulations Division (Tel. No. 791-5914). P aul A. V olcker, President. ADDITIONS TO OTC MARGIN LIST Acceleration Corporation $1.00 par common California Life Corporation Series A, $10.00 par convertible preferred Acme Electric Corporation $1.00 par common California Microwave, Inc. $.25 par common Amco Energy Corporation No par common Canandaigua Wine Company, Inc. $.01 par common Amdahl Corporation $.05 par common Capital Southwest Corporation $1.00 par common Autotrol Corporation $.10 par common Central National Bancshares, Inc. $1.00 par common Beard Oil Company $.10 par common Chamberlain Manufacturing Corporation $2.50 par common Beehive International $.02 par common Chem-Nuclear Systems, Inc. $.10 par common Boston Company, The Class B, $1.00 par common Chemineer, Inc. No par common Buckeye Federal Savings & Loan Association $.05 par common Chicago & North Western Transportation Company Class A, $50.00 par common CPT Corporation $.05 par common Citizens Fidelity Corporation $10.00 par common Cafeterias, Inc. $.40 par common Colorado National Bankshares, Inc. No par common Cal-Maine Foods, Inc. $1.00 par common Commonwealth National Bank (Harrisburg) $5.00 par capital R E C E IV E D AUG 1 6 1977 C IRC U LA RS DIVISION - 1 - Commonwealth Natural Resources, Inc, $5,00 par common Debron Corporation $1.00 par common Comprehensive Care Corporation $.10 par common Delaware Valley Realty 6c Mortgage Investors $1.00 par shares of beneficial interest CompuServe, Inc, No par common Dibrell Brothers, Inc. $10.00 par common Computer Communications, Inc, $1.00 par common Donovan Companies, Inc. Class A, $1.00 par common Computer Network Corporation $.50 par common Douglas 6c Lomason Company $2.00 par common Computer Products, Inc. $.01 par common Dyco Petroleum Corporation $.01 par common Comshare, Inc. $1„00 par common E-Systems, Inc. Warrants (expire 08/15/78) Consolidated Capital Realty Investors No par shares of beneficial interest Emerson Radio Corporation $.10 par common Cray Research, Inc. $1.00 par common Empire Fire and Marine Insurance Company $2.00 par common Cyclotron Corporation, The No par common Energy Minerals Corporation $.10 par common Danly Machine Corporation $5.00 par common Entemann's, Inc. $.01 par common Data Card Corporation $.10 par common Equitable General Corporation $3.00 par common Data-Design Laboratories $.33-1/3 par common FAS International, Inc. $.02 par common Data Resources, Inc. $.10 par common Falstaff Brewing Corporation $1.00 par common Data Terminal Systems, Inc. $.20 par common Financial Security Group, Inc. $.10 par common 2 First Arkansas Bankstock Corporation $6.25 par common Genesee Brewing Company, Inc. Class B, non-voting, $.50 par common First Bankers Corporation of Florida $1.00 par common Gilbert/Robinson, Inc. $1.00 par common First Farwest Corporation $2.50 par common Godfrey Company $5.00 par common First Kansas Financial, Inc. $3.01 par common Government Employees Financial Corporation $2.00 par common First Kentucky National Corporation No par common, $2.50 stated value Government Employees Insurance Company $1.00 par convertible preferred Graham Manufacturing’Company, Inc. $.10 par common First Lincoln Financial Corporation No par common GranTree Corporation $.10 par common First Railroad & Banking Company of Georgia $.66-2/3 par common Guarantee Financial Corporation of California $2.00 par common First Surety Corporation $1,00 par capital Guaranty National Corporation $1.00 par common-capital Florida Gulf Realty Trust $.10 par shares of beneficial interest Guardian Packaging Corporation No par common Foothill Group, Inc., The No par common Gulf Energy & Development Corporation $.10 par common Four-Phase Systems, Inc. $.04 par common Gulf Interstate Company $1.00 par common Franklin Corporation, The $1.00 par common Hartford Steam Boiler Inspection and Insurance Company, The $5.00 par common GRT Corporation $.50 par common Higbee Company, The $1.00 par common Galaxy Oil Company $.10 par common Hospital Trust Corporation $1.00 par common Galveston-Honston Company $.50 par common Hunt Manufacturing Company $.10 par common - 3 - Instrumentation Laboratory Inc. $1.00 par common Marine Corporation, The $10.00 par common Inter-Regional Financial Group, Inc. $.12-1/2 par common Mariners Financial Corporation $1.00 par capital James River Corporation of Virginia $.10 par common Mayflower Corporation No par common Kent-Moore Corporation $1.00 par common Maynard Oil Company $.10 par common Kewaunee Scientific Equipment Corporation $2.50 par common McFarland Energy, Inc. No par common Kimball International, Inc. Class B, $.62-1/2 par common Mercantile Bankshares Corporation (Maryland) No par cumulative convertible preferred Kratos Inc. No par common Mid-Continent Industries, Inc. $1.00 par common Lake Superior District Power Company $10.00 par common Midland Bancorp, Inc. $5.00 par common Lear Petroleum Corporation $,10 par common’ Midnite Mines Inc. $.10 par common Leisure Dynamics, Inc, $1.00 par common Mine Safety Appliances Company $3.33-1/3 par common Lyon Metal Products, Inc. $2.50 par common Mini-Computer Systems, Inc. $.10 par common MGF Oil Corporation $1.00 par common Mississippi Valley Gas Company $5.00 par common MTS Systems Corporation $.25 par common Mobile Gas Service Corporation $2.50 par common Manning Gas & Oil Company No par common Molex Inc. $.05 par common Manufacturing Data Systems, Inc. $.01 par common Mor-Flo Industries, Inc. $.50 pqr common - k - Mosinee Paper Corporation $5,00 par common Pacific Coast Holdings, Inc. $2.00 par common Multimedia, Inc. $1,00 par common Pacific Far East Line, Inc. $1.00 par common NFC Corporation $.10 par common Pacific-Southern Mortgage Trust $1.00 par shares of beneficial interest National Bank of Georgia, The $5.00 par common Pathcom Inc. $.10 par common National By-Products, Inc. $1.00 par common Penn Virginia Corporation $6.25 par common National Gas 6c Oil Corporation $1.00 par common Pic ’N ’ Save Corporation $.50 par common National Student Marketing Corporation $1.00 par common Posi-Seal International, Inc. $.01 par common Nevada National Bancorporation $1.00 par common Preway Inc. $2.50 par common New Plan Realty Trust No par shares of beneficial interest Prudential Federal Savings 6 c Loan Association $1.00 par common Nord Resources Corporation $.01 par common Putnam Duofund, Inc. $1.00 par income shares Ohio Citizens Trust Company, The $10.00 par common RLI Corporation $1.00 par common Oilgear Company, The $1.00 par common Republic Automotive Parts, Inc. $.50 par common Old Stone Corporation $1.00 par common Research Industries Corporation $1.00 par common Oregon Portland Cement Company No par common Reserve Oil 6 c Gas Company Warrants (expire 01/20/81) Orion Capital Corporation $1.00 par common Robbins Sc Myers, Inc. No par common Oshman’s Sporting Goods, Inc. $1.00 par common Rochester Instrument Systems, Inc $.05 par common - 5 - Rollins Burdick Hunter Company $.50 par common Sooner Life Insurance Company $1.00 par common Rolm Corporation $.17 par common Southern Bankshares, Inc. $10.00 par common Roosevelt National Investment Company Class A, $1.00 par common Southwest Petro-Chem Inc. No par common Rospatch Corporation $5.00 par common Southwestern Electric Service Company $1.00 par common Rovac Corporation, The $.01 par common Stanwick Corporation, The $.10 par common Rowe Furniture Corporation $lo00 par common Stewart & Stevenson Services, Inc. No par common SBE, Inc, $1.00 par common Summit Energy, Inc. $.50 par common SCI Systems, Inc. $ •.10 par common Sunstar Foods, Inc. $.50 par common Scripps-Howard Broadcasting Company $1.00 par common Tannetics, Inc. $1.00 par common Seaway Food Town, Inc. No par common, $2.00 stated value * Technical Publishing Company $.30 par common Security Life Insurance Company of Georgia $1.00 par common Tejas Gas Corporation $.33-1/3 par common Security of America Life Insurance Company $1.00 par common Teletronics International, Inc. $.01 par common Sensormatic Electronics Corporation $.01 par common Tennant Company $.37-1/2 par common Shared Medical Systems Corporation $.01 par common Texas American Oil Corporation $.10 par common Silvercrest Industries, Inc. $.10 par common Thetford Corporation $.25 par common Tony Lama Company, Inc. $1.00 par common Vapor Corporation Voting, $1.00 par common Tyrone Hydraulics, Inc. $1.00 par common Virginia Chemicals Inc. $2.00 par common Union National Bank of Pittsburgh $8.33-1/3 par capital Volunteer Capital Corporation $.05 par common Unishops, Inc. $.10 par common Walter Pvealty Investors $.10 par shares of beneficial interest United Cities Gas Company $3.33-1/3 par common Wendy's International, Inc. No par common, $.10 stated value Universal Security Instruments, Inc. $.01 par common Wolohan Lumber Company $1.00 par common Universal Voltronics Corporation $.10 par common Woodhead, Daniel Inc. $1.00 par common Valleylab, Inc. No par common World Jai-Alai, Inc. $.10 par common Valtek Inc. $.20 par common Worldv;ide Energy Corporation $.20 par common - 7 - DELETIONS FROM PTC MARGIN LIST Stocks Removed For Failing Continued Listing Requirements Barnett Winston Investment Trust $.10 par shares of beneficial interest Hudson United Bank $8.00 par capital Braden Industries, Inc. $1.00 par common Independence Mortgage Trust $1.00 par shares of beneficial interest Cayman Corporation $.10 par common MCI Communications Corporation $.10 par common Computer Usage Company $.25 par common Manchester Life & Casualty Management Corporation $1.00 par common Context Industries, Inc. $.10 par common Mutual Savings Life Insurance Company $1.00 par common Dominion Mortgage & Realty Trus t $.10 par shares of beneficial interest Scottish Inns of America, Inc. $.10 par common Elba Systems Corporation No par common Stocks Removed For Listing on National Securities Exchanges Or Being Involved in an Acquisition Allergan Pharmaceuticals No par common Barnes-Hind Pharmaceuticals, Inc. No par common American Express Company $.60 par common Booth Newspapers, Inc. $.50 par common American Heritage Life Investment Corporation $1.00 par common Channel Companies, Inc. $1.00 par common Apexco, Inc. $1.00 par common Chicago Bridge & Iron Company $5.00 par common Associated Freightways, Inc. $3.00 par common Christensen, Inc. No pdr common - 8 - Church's Fried Chicken, Inc. $.12 par common Kar Products, Inc. $1.00 par common Clevepak Corporation $1.00 par common Lone Star Brewing Company $1.00 par common Codex Corporation $1.00 par common Mercury Savings and Loan Association $1.00 par guarantee stock Columbia Corporation $1.00 par common Metpath Inc. $.10 par common Coquina Oil Corporation $.53-1/3 par common Mogul Corporation, The No par common Cotton Petroleum Corporation $.10 par common Motion Industries, Inc. $1.00 par common Crum & Forster $1.25 par common Northrup, King & Company $.50 par common Curtice-Burns, Inc. Class A, $5.00 par common Shippers Dispatch, Inc. Class A, $1.00 par common Curtis Noll Corporation No par common Skyline Oil Company $1.00 par capital Datapoint Corporation $.25 par common Speidel Newspapers Inc. $1.00 par common Del Monte Properties Company $2.50 par common Sycor, Inc. $.50 par common Delhi Internationa1 Oil Corporation $.10 par common Taylor Wine Company, Inc., The $2.00 par common Executive Industries, Inc. $.125 par common Twin Disc, Inc. No par common Foodways National, Inc. $.25 par common Tymshare, Inc. No par common Gray Tool Company $1.00 par common Universal Foods Corporation $1.00 par common Hamilton International Corporation $1.00 par common Var i a b l e A n n u i t y Life Company, The $1.00 par common Kaiser Steel Corporation $.66-2/3 par common - 9 - Insurance
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