Full text of Federal Reserve Bank of New York Circulars : List of OTC Margin Stocks

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

FEDERAL RESERVE BANK
OF NEW YORK

..d ^h 4t6>o
October 9, 1981

LIST OF OTC MARGIN STOCKS
As of October 5, 1981

To A ll Persona Extending Securities Credit
in the Second Federal Reserre District:

The Board of Governors of the Federal Reserve System has published a revised list of over-thecounter (OTC) stocks that are subject to its margin regulations. The following is quoted from the text
of the Board’s announcement:
The List supersedes the revised List of OTC M argin Stocks th a t was issued on A pril 6, 1981.
C hanges th a t have been m ade in the List, which now includes 1,407 OTC stocks, are as follows:
— 155 stocks have been included for the first tim e.
— 16 stocks previously on the List have been removed for substantially failing to m eet the
req u irem en ts for continued listing.
— 39 stocks have been rem oved for reasons such as listing on a national securities exchange or the
com panies w ere acquired by another firm .
The Board m onitors the m a rk e t activity of all OTC stocks to determ ine w hich stocks m eet the
req u irem en ts for inclusion and continued inclusion on the List of OTC M argin Stocks, and periodically
revises the List.
M argin regulations generally lim it the am ount of cred it a person or firm m ay obtain to buy, or
carry , securities. Stocks on the List of OTC M argin Stocks are subject to the sam e m arg in req u irem en ts
(curren tly 50 p er cent) as stocks listed on national stock exchanges. This m eans a person or firm buying a
stock on c re d it m ust m ake a down paym ent equal to a t least 50 per cent of the purchase price of the stock
and m ay obtain c re d it for the rem ain in g 50 p er cent.
M argin req u irem en ts on OTC stocks apply only to c red it extended on the date the stock becomes an
OTC m arg in stock and th ereafter. C red it extended by banks to purchase or c a rry OTC stocks before they
appeared on the List becomes subject on th a t date to the retention and w ithdraw al req u irem en ts of the
B oard’s m arg in R egulation U if the cre d it is collateralized by any stock. Such c re d it previously extended
by lenders subject to Regulation G (which governs securities c red it by persons o ther th an banks, brokers,
or dealers) becomes subject to retention and w ithdraw al req u irem en ts if collateralized by “m arg in
securities.”
It is unlaw ful for any person to cause any representation to be m ade th a t inclusion of a security on
this List indicates th a t the B oard or the S ecurities and E xchange Commission has in any way approved
such security or any transaction therein. Any references to the Board in connection w ith the L ist or any
securities thereon in any advertisem en t or sim ilar com m unication is unlaw ful.
The List is published by the Board for the inform ation of lenders and the general public

Enclosed is a copy of the revised List of OTC Margin Stocks referred to in the above statement
Any questions regarding the OTC List may be directed to our Regulations Division (Tel. No. 212791-5914). Additional copies of the OTC List will be furnished upon written request addressed to
either the Regulations Division or the Circulars Division of this Bank.




A nthony

M. S o l o m o n ,
President.

LIST OF OTC MARGIN STOCKS
AS OF
OCTOBER 5, 1981

This List of OTC Margin 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 sub­
ject to margin requirements as of October 5, 1981, pursuant to Sections 207.2(f) of Federal
Reserve Regulation G, “ Securities Credit by Persons other than Banks, Brokers, or Dealers,”
220.2(e) of Regulation T, “ Credit by Brokers and Dealers,” and 221.3(d) of Regulation U,
“ Credit by Banks for the Purpose of Purchasing or Carrying Margin Stocks.”
The List is published from time to time by the Board as a guide for lenders subject to the
regulations and the general public. Stocks will be added to the List, or deleted, in the interim
between publications as deemed appropriate by the Board. This List supersedes the
previous List of OTC Margin Stocks published as of April 6,1981, including changes thereto.

CAUTION: It is unlawful for any person to cause any representation to be made that inclu­
sion of a security on this List indicates that the Board or the Securities and Exchange Com­
mission has in any way approved such security or transaction therein. Also, any references
to the Board in connection with this List or any securities thereon in an advertisement or
similar communication is unlawful.

Any inquiry relating to this List or to Regulations G, T, U or X should be addressed to the
nearest Federal Reserve Bank.




(Prepared for Purposes of Regulations G, T, U and X)

BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, D.C.

AEL INDUSTRIES, INC.
Class A, $1.00 par common

ALEXANDER & BALDWIN, INC.
No par common

AFG INDUSTRIES, INC.
$1.00 par common

ALICO, INC.
$1.00 par common

*AM CABLE TV INDUSTRIES, INC.
$.10 par common
API TRUST
$1.00 par shares of beneficial
interest
AVM CORPORATION
$1.00 par common
ACADEMY INSURANCE GROUP, INC.
$.10 par common
ACAPULCO Y LOS ARCOS RESTAURANTES
$.10 par common
ACCELERATION CORPORATION
$.10 par common
ACCURAY CORPORATION
$1.00 par common
ACETO CHEMICAL CO., INC.
$.01 par common
ACME ELECTRIC CORPORATION
$1.00 par common

♦ALL AMERICAN INDUSTRIES, INC.
$.10 par common
ALLEGHENY BEVERAGE CORPORATION
$1.00 par common
ALLIED BANCSHARES, INC.
$1.00 par common
ALLIED CAPITAL CORPORATION
$1.00 par common

AEROSONIC CORPORATION
$.40 par common
AFFILIATED BANKSHARES OF COLORADO,
INC.
$5.00 par common
AIR FLORIDA SYSTEM, INC.
$.50 par common
AIR WISCONSIN, INC.
$.25 par common
ALABAMA-TENNESSEE NATURAL
GAS COMPANY
$1.00 par common
ALEXANDER & ALEXANDER SERVICES INC.
$1.00 par common

A d d itio n to L ist




AMERICAN GUARANTY FINANCIAL
CORPORATION
No par common, $1.00 stated val

AMERICAN INCOME LIFE INSURANCE
COMPANY
$1.00 par common

♦ALPINE GEOPHYSICAL CORPORATION
$.10 par common
♦ALTAIR CORPORATION (Puerto Rico)
$1.00 par common
ALTEX OIL CORPORATION
$.01 par common

AMARCO RESOURCES CORPORATION
$.01 par common

AERO SYSTEMS, INC.
$.02 par common

AMERICAN GREETINGS CORPORATION
Class A, $1.00 par common

ALLIED VAN LINES, INC.
Class B, no par common

ADDISON-WESLEY PUBLISHING COMPANY,
INC.
Class B, no par common

ADVENTURE LANDS OF AMERICA, INC.
No par common

AMERICAN FURNITURE COMPANY, INC.
$1.00 par common

AMERICAN HOME SHIELD CORPORATION
$.01 par common

ALTON PACKAGING CORPORATION
$5.00 par common

♦ADVANCED SYSTEMS, INC.
$.10 par common

AMERICAN FLETCHER CORPORATION
$5.00 par common

ALLIED TELEPHONE COMPANY
$2.00 par common

ADAC LABORATORIES
No par common

ADVANCE ROSS CORPORATION
$.10 par common

AMERICAN FILTRONA CORPORATION
$1.00 par common

AMAREX, INC.
No par common
AMBASSADOR GROUP, INC.
$.10 par common
♦AMBER RESOURCES COMPANY
$.003125 par common
♦AMDISCO CORPORATION
$1.00 par common
AMERICAN APPRAISAL ASSOCIATES, INC.
$1.00 par common
AMERICAN BANCORP INC. (Pennsylvania)
$5.00 par common
AMERICAN BANKERS INSURANCE
GROUP, INC.
$1.00 par common
♦AMERICAN CITY BANK
$2.50 par capital
AMERICAN EQUITY INVESTMENT TRUST
$11.00 par shares of beneficial
interest
AMERICAN FIDELITY LIFE INSURANCE
COMPANY
$1.00 par common

AMERICAN INDEMNITY FINANCIAL
CORPORATION
$3.33-1/3 par common
AMERICAN INTERNATIONAL GROUP, INC.
$2.50 par common
AMERICAN INVESTORS LIFE
INSURANCE COMPANY, INC.
$1.00 par common
♦AMERICAN MANAGEMENT SYSTEMS, INC.
$.01 par common
♦AMERICAN METALS SERVICE, INC.
$.01 par common
AMERICAN MICROSYSTEMS, INC.
$1.00 par common
AMERICAN MONITOR CORPORATION
No par common
AMERICAN NATIONAL BANK
(California)
$4.00 par common
AMERICAN NATIONAL INSURANCE
COMPANY
$1.00 par common
AMERICAN NUCLEAR CORPORATION
$.04 par common
AMERICAN PACIFIC INTERNATIONAL
INC.
$.01 par common
AMERICAN QUASAR PETROLEUM COMPANY
No par common
AMERICAN RESOURCES MANAGEMENT
CORPORATION
$.50 par common
AMERICAN SECURITY CORPORATION
$3.00 par common

♦AMERICAN SOLAR KING CORPORATION
No par common
AMERICAN STATES LIFE INSURANCE
COMPANY
$1.00 par common
AMERICAN WELDING & MANUFACTURING
COMPANY, THE
No par common
AMERITRUST CORPORATION
$6.66-2/3 par common
AMICOR INC.
$.02 par common
♦AMOSKEAG COMPANY
No par common
AMPAL-AMERICAN ISRAEL CORP.
6-1/2% cumulative
convertible preferred

i

APPLIED MATERIALS, INC.
No par common
APPLIED SOLAR ENERGY CORPORATION
No par common
ARABIAN SHIELD DEVELOPMENT
COMPANY
$.10 par common
♦ARACCA PETROLEUM CORPORATION
$.01 par common
ARAPAHO PETROLEUM, INC.
No par common
ARDEN GROUP, INC.
$.25 par common
ARGONAUT ENERGY CORPORATION
No par common

AVANTEK, INC.
No par common
♦AVERY COAL CO., INC.
$.10 par common
AZTEC MANUFACTURING COMPANY
$1.00 par common
BBDO INTERNATIONAL, INC.
$.10 par common
BAIRD CORPORATION
$1.00 par common
BAKER BROS., INC.
$.10 par common
BAKER, FENTRESS & COMPANY
$1.00 par common

ARIZONA BANK, THE
$2.50 par common

BALDWIN & LYONS, INC.
No par common

ART'S-WAY MANUFACTURING COMPANY, INC.
No par common

BALLY'S PARK PLACE, INC.
$.10 par common

ANADITE, INC.
$.10 par common

ASSOCIATED COCA-COLA BOTTLING
COMPANY, INC.
$.50 par common

BANC ONE CORPORATION
No par common

ANALOGIC CORPORATION
$.05 par common

ASSOCIATED HOSTS, INC.
$.10 par common

ANAREN MICROWAVE, INC.
$.01 par common

ASTROSYSTEMS, INC.
$.10 par common

ANACOMP, INC.
$1.00 par common
*
9.50% convertible subordinated
debentures

ANDERSON, GREENWOOD & CO.
No par common
ANDERSON INDUSTRIES, INC.
$1.00 par common
♦ANDREW CORPORATION
$1.00 par common
ANTA CORPORATION
$1.00 par common

ATLANTA GAS LIGHT COMPANY
$5.00 par common

BANCOKLAHOMA CORPORATION
$4.00 par common

ATLANTIC AMERICAN CORPORATION
$1.00 par common

BANCORP HAWAII INC.
$2.00 par common
$1.00 par cumulative
convertible preferred

ATLANTIC BANCORPORATION
$1.00 par common
ATLANTIC OIL CORPORATION
$.01 par common
ATLANTIC RESEARCH CORPORATION
$.10 par common
ATWOOD OCEAN ICS, INC.
$1.00 par common

♦ANTARES OIL CORPORATION
$.01 par common
ANTHEM ELECTRONICS, INC.
No par common
APECO CORPORATION
$.50 par common
APOGEE ENTERPRISES, INC.
$.33-1/3 par common
♦APPLICON INC.
$.05 par common




BANCO POPULAR DE PUERTO RICO
$10.00 par common
BANCOHIO CORPORATION
$6.66-2/3 par common

ANCORP BANCSHARES, INC.
$3.50 par common
ANDERSEN 2000 INC.
$.25 par common

BANCO DE PONCE
$5.00 par common

AUTO-TROL TECHNOLOGY
CORPORATION
No par common
AUTOMATED MARKETING SYSTEMS,
INC.
$.50 par common
AUTOMATED MEDICAL LABORATORIES,
INC.
$.01 par common
AUTOTROL CORPORATION
$.10 par common

BANCORP OF PENNSYLVANIA
$5.00 par common
♦BANCTEC, INC.
$.01 par common
BANGOR HYDRO-ELECTRIC COMPANY
$5.00 par common
BANK OF DELAWARE
$10.00 par capital
BANK OF MONTANA SYSTEM
$10.00 par common
BANK SOUTH CORPORATION
$5.00 par common
BANKERS TRUST OF SOUTH CAROLINA
$10.00 par common
BANKS OF IOWA, INC.
No par common, $2.50 stated
value

BANTA, GEORGE COMPANY, INC.
$.10 par common
BARBER-GREENE COMPANY
$5.00 par common

BEVERLY HILLS SAVINGS AND LOAN
ASSOCIATION
No par guarantee stock
BIBB COMPANY, THE
No par common

BARDEN CORPORATION, THE
$1.00 par common

BILLINGS CORPORATION
$.01 par common

BARRIS, CHUCK PRODUCTIONS, INC.
$.50 par common

BIOCHEM INTERNATIONAL, INC.
$.02 par common

BARTON BRANDS, LTD.
No par units of
limited interest

♦BIO-MEDICAL SCIENCES, INC.
$.01 par common

BASCO, INC.
$.10 par common

BIOMEDICAL REFERENCE
LABORTATORIES, INC.
$.10 par common

BASIC EARTH SCIENCE SYSTEMS, INC.
$.10 par common

BIRD & SON, INC.
$4.00 par common

BASSETT FURNITURE INDUSTRIES, INC.
$5.00 par common

BITCO CORPORATION
$1.00 par common

BAYBANKS, INC.
$7.50 par common

BLOCK DRUG COMPANY, INC.
Class A, $.10 par common

BAYLESS, A. J. MARKETS, INC.
$1.00 par common

BLUE CHIP STAMPS
$1.00 par common

BAYSWATER REALTY & CAPITAL CORP.
$1.00 par common

BLUEFIELD SUPPLY COMPANY
$2.00 par common

BEAR CREEK CORPORATION
$. 10 par common

BOATMEN'S BANCSHARES, INC.
$10.00 par common

BEARD OIL COMPANY
$.05 par common

BOB EVANS FARMS, INC.
No par common

BEEHIVE INTERNATIONAL
Paired certificates, $.02 par
common

BOHEMIA INC.
No par common

BEELINE, INC.
No par common

BOLAR PHARMACEUTICAL CO., INC.
$.01 par common

BRENNAND-PAIGE INDUSTRIES, INC.
$.10 par common
BRISTOL CORPORATION
No par common
BROADVIEW FINANCIAL CORPORATION
No par common
BROCK EXPLORATION CORPORATION
$. 10 par common
*BROCK HOTEL CORPORATION
$.10 par common
BROOKS FASHION STORES, INC.
$.10 par common
BRUNO'S, INC.
$.12-1/2 par common
BUCKBEE-MEARS COMPANY
$.10 par common
BUCKEYE FINANCIAL CORPORATION
$.05 par common
BUNNINGTON CORPORATION
$.10 par common
BURNUP & SIMS INC.
$.10 par common
♦BURTON/HAWKS, INC.
$.01 par common
BUSINESS MEN'S ASSURANCE COMPANY
OF AMERICA
$2.00 par common
BUTLER MANUFACTURING COMPANY
No par common
CACI, INC.
$.10 par common
CB&T BANCSHARES, INC.
$2.50 par common

BEKINS COMPANY, THE
No par common

BONANZA INTERNATIONAL, INC.
No par common

BELKNAP, INC.
No par common

BOOTHE FINANCIAL CORPORATION
$1.00 par common

BENTLEY LABORATORIES INC.
$.10 par common

BOSTON COMPANY, THE
Class B, $1.00 par common

BERKLEY, W. R. CORPORATION
$.20 par common

BOSTON DIGITAL CORPORATION
$.10 par common

BERKLINE CORPORATION, THE
$1.00 par common

BOWLINE CORPORATION
$.02 par common
BRAE CORPORATION
$1.00 par common

CBT CORPORATION
$10.00 par common
CFS CONTINENTAL, INC.
$1.00 par common
*CGA COMPUTER ASSOCIATES INC.
$.10 par common
CIC FINANCIAL CORPORATION
$1.00 par common
C L ASSETS, INC.
$1.00 par cumulative preferred

BETZ LABORATORIES, INC.
$.10 par common

BRASS-CRAFT MANUFACTURING
COMPANY
$1.00 par common

CMT INVESTMENT COMPANY
$1.00 par shares of beneficial
interest
$7.50 par preferred shares
of beneficial interest

BEVERAGE MANAGEMENT, INC.
$.10 par common

BRENCO, INC.
$1.00 par common

CPT CORPORATION
$.05 par common

BERRY INDUSTRIES CORPORATION
$1.00 par common

A d d itio n to L ist




—3—

CADO SYSTEMS CORPORATION
$.10 par common
CALIFORNIA FIRST BANK
$5.00 par common
CALIFORNIA MICROWAVE, INC.
$.25 par common
CALIFORNIA WATER SERVICE COMPANY
$12.50 par common
CALLON PETROLEUM COMPANY
$.33-1/3 par common
CALPROP CORPORATION
$1.00 par common
♦CALVIN EXPLORATION, INC.
$.01 par common
CAMBEX CORPORATION
$.10 par common
CAMBRIDGE ROYALTY COMPANY
$1.00 par common
CANANDAIGUA WINE COMPANY, INC.
$.01 par common
CAPITAL ENERGY CORPORATION
No par common
CAPITAL SOUTHWEST CORPORATION
$1.00 par common
CAROLINA CASUALTY INSURANCE
COMPANY
$1.00 par common
CASCADE STEEL ROLLING MILLS, INC.
No par common
CEDAR POINT, INC.
$1.00 par common
CELINA FINANCIAL CORPORATION
Class A, $.50 par common
CENCOR, INC.
$1.00 par common
CENTRAL BANCORPORATION, INC., THE
$5.00 par common
CENTRAL BANCSHARES OF THE SOUTH,
INC.
$2.00 par common
CENTRAL BANKING SYSTEM, INC.
$2.50 par capital

CENTRAL MORTGAGE & REALTY TRUST
$1.00 par shares of beneficial
interest
CENTRAL NATIONAL CHICAGO CORPORATION
$10.00 par common
CENTRAL PENN NATIONAL CORPORATION
$1.00 par common
CENTRAL VERMONT PUBLIC SERVICE
CORPORATION
$6.00 par common
CENTRAN CORPORATION
$8.00 par common
CENTURA ENERGY CORPORATION
$.05 par common
CENTURY BANKS, INC.
$1.00 par common
CENTURY OIL & GAS CORPORATION
$.02 par common
CHAMPION PARTS REBUILDERS, INC.
$.10 par common
CHAPARRAL RESOURCES, INC.
$.10 par common
CHARLES RIVER BREEDING LABORATORIES,
INC.
$1.00 par common
CHARMING SHOPPES, INC.
$.10 par common
CHART HOUSE INC.
No par common
CHATHAM MANUFACTURING COMPANY
$1.00 par common
CHATTEM, INC.
No par common
♦CHECKPOINT SYSTEMS, INC.
$.10 par common
♦CHEEZEM DEVELOPMENT CORPORATION
$.01 par common
CHEMLAWN CORPORATION
No par common
CHEM-NUCLEAR SYSTEMS, INC.
$.10 par common
CHEMED CORPORATION
$1.00 par capital

CENTRAL CAROLINA BANK &
TRUST COMPANY
$5.00 par common

CHEMICAL LEAMAN CORPORATION
$2.50 par common

CENTRAL FIDELITY BANKS, INC.
$5.00 par common

CHEMINEER, INC.
No par common

CENTRAL JERSEY BANK &
TRUST COMPANY, THE
$2.50 par capital

CHERRY ELECTRICAL PRODUCTS
CORPORATION
$1.00 par common

A d d itio n t o L ist




— 4

CHI-CHI'S, INC.
$.01 par common
CHILDREN'S WORLD, INC.
$.10 par common
CHITTENDEN CORPORATION
$10.00 par common
CHOMERICS, INC.
$.10 par common
CHUBB CORPORATION, THE
$1.00 par common
CHURCH & DWIGHT COMPANY, INC.
No par common
CHYRON CORPORATION
$.01 par common
CIMARRON CORPORATION
$.10 par common
CINCINNATI FINANCIAL CORPORATION
$2.00 par common
CINDY'S, INC.
$.10 par common
CIRCLE INCOME SHARES, INC.
$1.00 par common
CITIZENS AND SOUTHERN CORPORATION
THE (South Carolina)
$2.50 par common
CITIZENS AND SOUTHERN GEORGIA
CORPORATION
$2.50 par common
CITIZENS FIDELITY CORPORATION
$5.00 par common
CITIZENS UTILITIES COMPANY
Series A, $1.00 par common
Series B, $1.00 par common
♦CITY FEDERAL SAVINGS AND LOAN ASSOCIATION
$.01 par common
CITY NATIONAL CORPORATION
$1.00 par common
CITYTRUST BANCORP, INC.
$5.00 par common
CLARK, J. L. MANUFACTURING COMPANY
$1.00 par common

$1.00 par shares of beneficial
interest
*CLINICAL SCIENCES INC.
$.01 par common
CLOW CORPORATION
$6.25 par common
COASTAL INDUSTRIES, INC.
$.25 par common
COBB RESOURCES CORPORATION
$.10 par common

COBE LABORATORIES, INC.
No par common

♦COMMUNICATIONS CORPORATION OF AMERICA
$.01 par common

COCA-COLA BOTTLING COMPANY
CONSOLIDATED
$1.00 par common
COCA-COLA BOTTLING COMPANY OF MIAMI,
INC., THE
$.10 par common
COEUR D'ALENE MINES CORPORATION
$1.00 par common
*COGNITRONICS CORPORATION
$.20 par common
COHERENT, INC.
$.50 par common

COLONIAL BANCORP, INC.
$10.00 par common
COLONIAL GAS COMPANY
No par common
COLONIAL LIFE & ACCIDENT INSURANCE
COMPANY
Class B, non-voting,
$1.00 par common

COMMUNICATIONS INDUSTRIES, INC.
$.50 par common
COMPACT VIDEO SYSTEMS, INC.
$.10 par common
COMPREHENSIVE CARE CORPORATION
$.10 par common
♦COMPUCORP
No par common
COMPUSCAN, INC.
$.10 par common
COMPUTER & COMMUNICATIONS TECHNOLOGY
CORPORATION
$.40 par common
COMPUTER AUTOMATION, INC.
$.10 par common
COMPUTER COMMUNICATIONS, INC.
$1.00 par common
♦COMPUTER DATA SYSTEMS, INC.
$.10 par common
COMPUTER DEVICES, INC.
$.01 par common
COMPUTER NETWORK CORPORATION
$.50 par common

COLORADO NATIONAL BANKSHARES, INC.
No par common

COMPUTER PRODUCTS, INC.
$.01 par common
♦COMPUTER USAGE COMPANY
$.25 par common

COMCAST CORPORATION
Class A, no par common

COMSERV CORPORATION
$.10 par common

COMDATA NETWORK, INC.
$.02 par common

COMSHARE, INC.
$1.00 par common

COMMERCE BANCSHARES, INC.
$5.00 par common

COMTECH TELECOMMUNICATIONS CORPORATION
$.10 par common

COMMERCE CLEARING HOUSE, INC.
$1.00 par common

CONAIR CORPORATION
$.10 par common

COMMERCE SOUTHWEST INC.
$1.00 par common
*
$1.00 par convertible preferred
*
Class A, $8.00 par convertible
preferred
COMMERCIAL SHEARING, INC.
$1.00 par common
COMMERCIAL TRUST COMPANY OF NEW JERSEY
$5.00 par capital

CONCEPT, INC.
$.50 par common

♦CONSUL CORPORATION
$.01 par common

CONTEXT INDUSTRIES, INC.
$.10 par common
CONTINENTAL BANK (Pennsylvania)
$5.00 par common
CONTINENTAL INFORMATION SYSTEMS
CORPORATION
$.03 par common
♦CONTINUUM COMPANY, THE
$.10 par common
CONTROL LASER CORPORATION
$.01 par common
CONWED CORPORATION
$5.00 par common
COORS, ADOLPH COMPANY
Class B, no par common
♦CORCUM, INC.
No par common

CORDIS CORPORATION
$1.00 par common
COTTON STATES LIFE AND
HEALTH INSURANCE COMPANY
$1.00 par common
♦COUNTRYWIDE CREDIT INDUSTRIES, INC.
$.05 par common
COURIER CORPORATION
$1.00 par common
COUSINS PROPERTIES INC.
$1.00 par common
COVINGTON TECHNOLOGIES
$.125 par common

CONNA CORPORATION
No par common

CRADDOCK-TERRY SHOE CORPORATION
$1.00 par common

CONNECTICUT ENERGY CORPORATION
$13.33-1/3 par common

CRAWFORD & COMPANY
$1.00 par common

CONNECTICUT NATIONAL BANK
$5.00 par common

COMMONWEALTH TELEPHONE ENTERPRISES, INC.
$1.00 par common

CONNECTICUT WATER SERVICE, INC.
No par common




CONSOLIDATED PAPERS, INC.
$6.25 par common

CONIFER GROUP INC., THE
$1.00 par common

COMMONWEALTH NATIONAL BANK
(Harrisburg)
$5.00 par capital

A d d itio n to L ist

CONSOLIDATED FIBRES INC.
$1.00 par common

CONSUMERS WATER COMPANY
$1.00 par common

COLOR TILE, INC.
$1.00 par common

COLUMBUS MILLS, INC.
$1.00 par common

CONSOLIDATED CAPITAL REALTY INVESTORS
No par shares of beneficial
interest

-

5 -

♦CRESTED BUTTE SILVER MINING, INC.
$.001 par common
CRONUS INDUSTRIES, INC.
$.10 par common

DEL-VAL FINANCIAL CORPORATION
$1.00 par common

DOYLE DANE BERNBACH INTERNATIONAL INC
$.50 par common

DENELCOR, INC.
No par common

DRANETZ ENGINEERING LABORATORIES, INC
$.10 par common

CRUMP, E. H. COMPANIES, INC.
No par common

DEPENDABLE INSURANCE GROUP, INC.
OF AMERICA, THE
$.10 par common

DREXLER TECHNOLOGY CORPORATION
$.20 par common

CULLEN/FROST BANKERS, INC.
$5.00 par common

DEPOSIT GUARANTY CORPORATION
No par common

DRUM FINANCIAL CORPORATION
$1.00 par common

CULLINANE DATABASE SYSTEMS, INC.
$.10 par common

DETECTION SYSTEMS INC.
$.05 par common

DUAL-LITE, INC.
No par common, $.01 stated
val ue

CULLUM COMPANIES, INC.
$1.00 par common

DETREX CHEMICAL INDUSTRIES, INC.
$2.00 par common

CYCLOTRON CORPORATION, THE
No par common

DETROITBANK CORPORATION
$5.00 par common

CROSS & TRECKER CORPORATION
$1.00 par common
♦CROWLEY FOODS INC.
$5.00 par common

♦D.A.B. INDUSTRIES, INC.
$1.00 par common
DSI CORPORATION
$.16-2/3 par common

DANKER LABORATORIES, INC.
$.01 par common
DART DRUG CORPORATION
Class A, $1.00 par common
DASH INDUSTRIES, INC.
$.00066 par common
DATA CARD CORPORATION
$.10 par common

DIAGNOSTIC DATA, INC.
$.50 par common
DIAMOND CRYSTAL SALT COMPANY
$2.50 par common
DIBRELL BROTHERS, INC.
$10.00 par common
♦DICOMED CORPORATION
$.03 par common
DIGILOG, INC.
$.01 par common
♦DIMIS, INC.
$.01 par common

DUCKWALL-ALCO STORES INC.
$2.50 par common
DUNKIN' DONUTS INC.
$1.00 par common
DURHAM CORPORATION
$5.00 par common
DURIRON COMPANY, INC., THE
$1.25 par common
DURR-FILLAUER MEDICAL, INC.
$.50 par common
DYATRON CORPORATION
$.66-2/3 par common
DYNASCAN CORPORATION
$.33-1/3 par common
DYNATECH CORPORATION
$.20 par common

DATA-DESIGN LABORATORIES
$.33-1/3 par common

DINNER BELL FOODS, INC.
No par common, $.50 stated
val ue

EIP MICROWAVE INC.
No par common

DATA PACKAGING CORPORATION
$.10 par common

DISCOUNT CORPORATION OF NEW YORK
$2.00 par capital

EARLY CALIFORNIA INDUSTRIES INC.
$1.00 par common

DATAMETRICS CORPORATION
No par common

♦DISCOVERY OIL, LTD.
No par common

EASTERN AIR LINES, INC.
Warrants (expire 06/01/87)

DATARAM CORPORATION
$1.00 par common

DISTRIBUCO, INC.
$1.00 par common

DATASCOPE CORP.
$.01 par common

DIXON, JOSEPH CRUCIBLE COMPANY, THE
$10.00 par common

DAUPHIN DEPOSIT CORPORATION
$10.00 par common

DOCUTEL CORPORATION
$.10 par common

DAYTON MALLEABLE INC.
No par common

DOLLAR GENERAL CORPORATION
$.50 par common

EATON CORPORATION
Series A, no par convertible
preferred

DEAN FOODS COMPANY
$1.00 par common

DOMINION BANKSHARES CORPORATION
$5.00 par common

EATON VANCE CORPORATION
Non-voting, $.50 par common

DECISION DATA COMPUTER CORPORATION
$.10 par common

EASTMET CORPORATION
$1.00 par common
EASTOVER CORPORATION
No par shares of beneficial
interest

♦DOMINION MORTGAGE & REALTY TRUST
ECONOMICS LABORATORY, INC.
$.10 par shares of beneficial interest
$1.00 par common

DECISION SYSTEMS, INC.
$.25 par common

DONOVAN COMPANIES, INC.
Class A, $1.00 par common

EL PASO ELECTRIC COMPANY
No par common

DEKALB AGRESEARCH, INC.
Class B, no par common

DOUGLAS & LOMASON COMPANY
$2.00 par common

ELDER-BEERMAN STORES CORP., THE
No par common

• A d d itio n t o L is t




— 6—

ELDON INDUSTRIES, INC.
$1.00 par common

ERB LUMBER COMPANY
$.01 par common

FIRST & MERCHANTS CORPORATION
$7.50 par common

ELECTRO-NUCLEONICS, INC.
$.02-1/2 par common

EVANS & SUTHERLAND COMPUTER CORPORATION
$.20 par common

FIRST ALABAMA BANCSHARES, INC.
$2.50 par common

ELECTRO RENT CORPORATION
$.50 par common
♦ELECTROMAGNETIC SCIENCES, INC.
$.10 par common
ELECTRONIC MODULES CORPORATION
$.10 par common
♦ELECTROSPACE SYSTEMS, INC.
$.10 par common
ELIZABETHTOWN WATER COMPANY
No par common
ELLIS BANKING CORPORATION
$1.00 par common
EMONS INDUSTRIES, INC.
$.01 par common
$12.50 par cumulative
convertible preferred
♦EMPIRE OIL & GAS COMPANY
No par common

♦EXCEL ENERGY CORPORATION
$.01 par common
EXCELSIOR INSURANCE COMPANY
$2.00 par common

FIRST AMERICAN CORPORATION
$5.00 par common

EXCHANGE BANCORPORATION, INC.
$2.50 par common

FIRST AMERICAN FINANCIAL
CORPORATION, THE
$1.00 par common

FMI FINANCIAL CORPORATION
$.01 par common
FSC CORPORATION
$.01 par common
$.01 par convertible
preferred
FAIR LANES, INC.
$1.00 par common
FALSTAFF BREWING CORPORATION
$1.00 par common
FARM HOUSE FOODS CORPORATION
$.05 par common

EMPLOYERS CASUALTY COMPANY
$2.50 par common

FARMER BROS. COMPANY
$1.00 par common

ENERGY CONVERSION DEVICES, INC.
$.01 par common

FARMERS GROUP, INC.
$1.00 par common

ENERGY METHODS CORPORATION
$.00625 par common

FARR COMPANY
$1.00 par common

ENERGY RESERVES GROUP, INC.
$.03-1/3 par common

FEDERAL SCREW WORKS
$1.00 par common

ENERGY SOURCES, INC.
$.05 par common

FEDERATED GUARANTY LIFE
INSURANCE COMPANY
$1.00 par common

ENERGY VENTURES INC.
$1.00 par common
ENGRAPH, INC.
$1.00 par common
♦ENZO BIOCHEM, INC.
$.01 par common
EPSCO, INC.
No par common
EQUITABLE BANCORPORATION
$5.00 par common
EQUITABLE OF IOWA COMPANIES
Class B, non-voting, no
par common
EQUITABLE SAVINGS & LOAN
ASSOCIATION
$2.00 par common
EQUITY OIL COMPANY
$1.00 par common

A d d itio n t o L ist




FIRST AMERICAN BANK CORPORATION
$10.00 par common

FEDERATED INCOME & PRIVATE
PLACEMENT FUND
$1.00 par capital

FIRST ARKANSAS BANKSTOCK
CORPORATION
$6.25 par common
FIRST ARTISTS PRODUCTION COMPANY,
LTD.
$.10 par capital
FIRST BANCGROUP-ALABAMA, INC.
$4.00 par common
FIRST BANK SYSTEM, INC.
$2.50 par capital
FIRST BANKSHARES CORPORATION
OF SOUTH CAROLINA
$5.00 par common
FIRST BOSTON, INC.
$1.66-2/3 par capital

FIRST CAPITAL CORPORATION
$5.00 par common
FIRST CAROLINA INVESTORS
No par shares of beneficial
interest
♦FIRST COINVESTORS, INC.
$.05 par common
FIRST COLONY LIFE INSURANCE COMPANY
$1.00 par common

FIDELCOR, INC.
$1.00 par common

FIRST COMMERCE CORPORATION
$5.00 par common

FIFTH THIRD BANCORP
$6.66-2/3 par common

FIRST CONNECTICUT BANCORP, INC.
$10.00 par common

FIGGIE INTERNATIONAL, INC.
3rd Series, $1.00 par cumulative
convertible preferred
FINANCIAL INDUSTRIES CORPORATION
$1.00 par common
♦FINGERMATRIX, INC.
$.01 par common
FINNIGAN CORPORATION
No par common

— 7—

FIRST CONTINENTAL REAL ESTATE
INVESTMENT TRUST
$1.00 par shares of beneficial
interest
FIRST EMPIRE STATE CORPORATION
$5.00 par common
FIRST EXECUTIVE CORPORATION
$2.00 par common
$1.00 par convertible preferred
FIRST FARWEST CORPORATION
$2.50 par common

*FIRST FEDERAL SAVINGS AND LOAN
ASSOCIATION OF RALEIGH
$1.00 par common
FIRST FLORIDA BANKS, INC.
$1.00 par common
FIRST HAWAIIAN, INC.
$5.00 par common
FIRST ILLINOIS CORPORATION
$5.00 par common
FIRST JERSEY NATIONAL CORPORATION
$5.00 par common
FIRST KENTUCKY NATIONAL
CORPORATION
No par common
FIRST LINCOLN FINANCIAL CORPORATION
No par common
FIRST MARINE BANKS, INC.
$1.00 par common
FIRST MARYLAND BANCORP
$5.00 par common
FIRST NATIONAL BANCORPORATION,
INC., THE
$10.00 par common
FIRST NATIONAL BANK OF ALLENTOWN
(Pennsylvania)
$2.50 par common
FIRST NATIONAL BANK OF NEW JERSEY
$5.00 par common
FIRST NATIONAL CHARTER CORPORATION
$6.25 par common
FIRST NATIONAL CINCINNATI
CORPORATION
$5.00 par common
FIRST NATIONAL SUPERMARKETS, INC.
$.01 par common
FIRST NEW MEXICO BANKSHARE CORPORATION
$5.00 par common
FIRST NEWPORT CORPORATION
$1.00 par common
FIRST OHIO BANCSHARES
$6.25 par common
FIRST OKLAHOMA BANCORPORATION, INC.
$5.00 par common
FIRST PEOPLES BANK OF NEW JERSEY
$6.00 par capital
FIRST RAILROAD & BANKING COMPANY
OF GEORGIA
$.66-2/3 par common
FIRST SAVINGS AND LOAN ASSOCIATION
(California)
No par common

Addition

to L ist




FIRST SECURITY CORPORATION
$1.25 par common
FIRST STATE BANKING CORPORATION
$5.00 par common
FIRST TENNESSEE NATIONAL CORPORATION
$2.50 par common
FIRST UNION BANCORPORATION
$10.00 par common
FIRST UNION CORPORATION
$3.33-1/3 par common
FIRST UNITED BANCORPORATION, INC.
$10.00 par common
FIRST WESTERN FINANCIAL CORPORATION
$1.00 par common
FIRSTBANCORP, INC.
$5.00 par common
FLAGSHIP BANKS INC.
$1.00 par common
*
No par cumulative convertible
preferred
FLAME INDUSTRIES, INC.
$.10 par common
FLEXSTEEL INDUSTRIES, INC.
$1.00 par common
FLICKINGER, S. M. COMPANY, INC.
$2.50 par common
♦FLIGHT TRANSPORTATION CORPORATION
$.01 par common
FLOATING POINT SYSTEMS, INC.
No par common
FLORAFAX INTERNATIONAL, INC.
$.10 par common
FLORIDA COAST BANKS, INC.
$1.00 par common
Series A, no par cumulative
convertible preferred
FLORIDA COMMERCIAL BANKS, INC.
$1.00 par common
FLORIDA CYPRESS GARDENS, INC.
$.25 par common
FLORIDA GULF REALTY TRUST
$.10 par shares of beneficial
interest
FLORIDA NATIONAL BANKS OF
FLORIDA, INC.
$12.50 par common

FOOTHILL GROUP, INC., THE
Class A, no par common
FOREMOST CORPORATION OF AMERICA
$1.00 par common
FOREST OIL CORPORATION
$1.00 par common
♦FORUM GROUP, INC.
No par common
FOUNDERS FINANCIAL CORPORATION
$1.00 par common
FOURTH FINANCIAL CORPORATION
$5.00 par common
FRANKLIN CORPORATION, THE
$1.00 par common
FRANKLIN ELECTRIC COMPANY, INC.
$.50 par common
FRANKLIN STATE BANK
$3.50 par common
FRASER MORTGAGE INVESTMENTS
No par shares of beneficial
interest
FREDERICK & HERRUD, INC.
$.10 par common
FREEDOM SAVINGS AND LOAN ASSOCIATION
$1.00 par common
FREMONT GENERAL CORPORATION
$1.00 par common
FRONTIER SAVINGS ASSOCIATION
$.80 par permanent
capital
FROZEN FOOD EXPRESS
INDUSTRIES, INC.
$1.50 par common
FULLER, H. B. COMPANY
$1.00 par common
FUNTIME, INC.
No par common
GNC ENERGY CORPORATION
$.40 par common
GALAXY OIL COMPANY
9% convertible subordinated
debentures
♦GENENTECH, INC.
$.02 par common
GENERAL AUTOMATION, INC.
$.10 par common

FLUORXARBON COMPANY, THE
$.20 par common

GENERAL AUTOMOTIVE PARTS
CORPORATION
No par common

FOOD TOWN STORES, INC.
$.50 par common

GENERAL BINDING CORPORATION
$.12-1/2 par common

-

8 -

GENERAL DEVICES, INC.
$.01 par common
GENERAL ENERGY CORPORATION
$1.00 par common
♦GENERAL HYDROCARBONS, INC.
$.01 par common
GENERAL SHALE PRODUCTS
CORPORATION
No par common
GENERAL TELEPHONE COMPANY
OF CALIFORNIA
5% cumulative preferred
Series 1956, 4-1/2%
cumulative preferred
GENESEE BREWING COMPANY, INC.
Class B, non-voting,
$.50 par common
♦GEODYNE RESOURCES, INC.
$.10 par common
GEOKINETICS INC.
$.20 par common
♦GEORESOURCES, INC.
$.01 par common
GEORGE WASHINGTON CORPORATION
$1.00 par common
GERIATRIC & MEDICAL CENTERS, INC.
$.10 par common
♦GERMANIA FEDERAL SAVINGS AND
LOAN ASSOCIATION
$.01 par common
GILBERT ASSOCIATES, INC.
Class A, non-voting,
$1.00 par common

GOVERNMENT EMPLOYEES LIFE INSURANCE
COMPANY
$1.50 par common
GOVERNMENT SERVICES SAVINGS &
LOAN, INC.
$1.00 par guaranty stock
GRACO INC.
$1.00 par common
GRANTREE CORPORATION
$.10 par common
GRAPHIC SCANNING CORPORATION
$.01 par common
*
10% convertible subordinated
debentures
GREAT AMERICAN BANKS INC.
$1.00 par common
GREAT AMERICAN CORPORATION
Class A, $2.50 par common
GREAT AMERICAN MANAGEMENT &
INVESTMENT, INC.
$.01 par common
♦GREAT SOUTHWEST INDUSTRIES CORP.
$.10 par common
♦GREATE BAY CASINO CORPORATION
Class A, $.25 par common
GREATER JERSEY BANCORP.
$5.50 par common
GREEN MOUNTAIN POWER CORPORATION
$3.33-1/3 par common
GUARANTEE FINANCIAL CORPORATION
OF CALIFORNIA
$2.00 par common
GUARANTY NATIONAL CORPORATION
$1.00 par common

HADSON PETROLEUM CORPORATION
$.10 par common
HAEMONETICS CORPORATION
$1.00 par common
HAMILTON BROTHERS PETROLEUM
CORPORATION
$.25 par common
$1.00 par cumulative preferred
HAMILTON INVESTMENT TRUST
$1.00 par shares of beneficial
interest
HANOVER INSURANCE COMPANY, THE
$2.00 par capital
HARDWICKE COMPANIES INCORPORATED
$1.00 par common
HARKEN OIL & GAS, INC.
$1.00 par common
HARPER & ROW PUBLISHERS, INC.
$.10 par common
HARPER GROUP, THE
No par common
HARTFORD NATIONAL CORPORATION
$6.25 par common
HARTFORD STEAM BOILER INSPECTION
& INSURANCE COMPANY
$5.00 par common
HARWYN INDUSTRIES CORPORATION
$. 10 par common
HAUSERMAN, INC.
$1.00 par common
♦HAVERTY FURNITURE COMPANIES, INC.
$1.00 par common
HAWKEYE BANCORPORATION
$3.00 par common

GILMAN SERVICES, INC.
$.10 par common

GUARDIAN PACKAGING CORPORATION
$.34 par common

GIRARD COMPANY, THE
$.50 par common

GULF ENERGY & DEVELOPMENT
CORPORATION
$.10 par common

HAZLETON LABORATORIES CORPORATION
$.10 par common

GULF INTERSTATE COMPANY
$1.00 par common

HEALTH EXTENSION SERVICES INC.
$.02 par common

GULFSTREAM BANKS, INC.
$1.00 par common

♦HEALTH INFORMATION SYSTEMS INC.
$.01 par common

GODFREY COMPANY
$5.00 par common
GOLD MEDALLION CORPORATION
$.10 par common
GOLDEN CYCLE CORPORATION, THE
No par common
♦GOODY PRODUCTS, INC.
$.10 par common
GOULDS PUMPS, INC.
$1.00 par common
GOVERNMENT EMPLOYEES FINANCIAL
CORPORATION
$2.00 par common

A d d itio n to L ist




HAWTHORNE FINANCIAL CORPORATION
$1.00 par capital

♦HCC INDUSTRIES
No par common

HECHINGER COMPANY
$. 10 par common

♦HGIC CORPORATION
$1.00 par common

HEILIG-MEYERS COMPANY
$2.00 par common

♦HLH PETROLEUM CORPORATION
$.03 par common

HEIST, C. H. CORPORATION
$.05 par common

HACH COMPANY
$1.00 par common

- 9 -

HELIX TECHNOLOGY CORPORATION
$1.00 par common

♦HEMOTEC, INC.
Voting, $.01 par common
♦HENDERSON PETROLEUM CORPORATION
$.01 par common
HENREDON FURNITURE INDUSTRIES,
INC.
$2.00 par common
HERITAGE BANCORPORATION
No par common, $2.50 stated
val ue
HERITAGE COMMUNICATIONS, INC.
$.50 par common
HIBERNIA BANCSHARES CORPORATION
$6.25 par common
HIBERNIA CORPORATION
No par common
HICKORY FURNITURE COMPANY
$.10 par common
HIGBEE COMPANY, THE
$1.00 par common
♦HIGH STOY TECHNOLOGICAL CORPORATION
$.02 par common
HINES, EDWARD LUMBER CO.
$10.00 par common
♦HITTMAN CORPORATION
$.10 par common
HOE, R. & CO., INC.
$.01 par common
HOLLYWOOD PARK, INC.
$.80 par common
HOMAC INC.
$1.00 par common

HUDSON UNITED BANK
(Union City, N. J.)
$8.00 par capital
HUGHES SUPPLY, INC.
$1.00 par common
HUNGRY TIGER INC.
$.05 par common
HUNTINGTON BANCSHARES INC.
$10.00 par common
♦HURCO MANUFACTURING COMPANY, INC.
No par common, $.10 stated value

HOME FEDERAL SAVINGS AND LOAN
ASSOCIATION OF PALM BEACH
$.01 par common
HOMESTEAD FINANCIAL CORPORATION
$.75 par common
HON INDUSTRIES INC.
$1.00 par common

♦INFRARED INDUSTRIES, INC.
No par common
INSTRUMENTATION LABORATORY INC.
$1.00 par common
INTEGRITY ENTERTAINMENT CORPORATION
$.01 par common
INTEL CORPORATION
No par common
*
7% convertible subordinated debentur

HYATT INTERNATIONAL CORPORATION
Class A, $.10 par common

INTERCONTINENTAL ENERGY CORPORATION
$.40 par common

HYSTER COMPANY
$.50 par common

INTERCONTINENTAL LIFE CORPORATION
$1.00 par common

I.M.S. INTERNATIONAL, INC.
$.01 par common

INTERFACE MECHANISMS, INC.
No par common

♦ISC SYSTEMS CORPORATION
No par common

INTERISLAND RESORTS, LTD.
No par common
INTERMEDICS, INC.
$.10 par common

ICOT CORPORATION
$.20 par common

INTERMOUNTAIN GAS INDUSTRIES, INC.
$1.00 par common

IMPELL CORPORATION
$.02 par common
IMPERIAL BANCORP
$4.00 par common
INDEPENDENCE SQUARE INCOME
SECURITIES, INC.
$.10 par common
INDEPENDENT BANKSHARES CORPORATION
No par common
INDEPENDENT INSURANCE GROUP, INC.
Non-voting, $1.00 par common
INDIANA FINANCIAL INVESTORS, INC.
No par common

HOME BENEFICIAL CORPORATION
Class B, non-voting,
$1.25 par common

INFORMATION INTERNATIONAL, INC.
$.25 par common

INDIANA NATIONAL CORPORATION
No par common
INDIANAPOLIS WATER COMPANY
$7.50 par common

INTERNATIONAL BANK
(Washington, D. C.)
$1.00 par common
Class A, $1.00 par common
INTERNATIONAL CLINICAL LABORATORIES,
INC.
$.33-1/3 par common
INTERNATIONAL DAIRY QUEEN, INC.
$1.00 par common
INTERNATIONAL KING'S TABLE, INC.
No par common
INTERNATIONAL RESEARCH AND DEVELOPMENT
CORPORATION
$.50 par common
INTERNATIONAL SHIPHOLDING CORPORATION
$1.00 par common

INTERSCIENCE SYSTEMS, INC.
$.10 par common
♦INDUSTRIAL ELECTRONIC HARDWARE CORPORATION
$.50 par capital
♦INTERTHERM INC.
$1.00 par common
INDUSTRIAL RESOURCES, INC.
No par common

HOOK DRUGS, INC.
No par common

INDUSTRIAL VALLEY BANK AND TRUST
COMPANY
$5.00 par common

IOWA SOUTHERN UTILITIES COMPANY
$10.00 par common

HOOVER COMPANY, THE
$2.50 par common

INFORMATICS, INC.
$.15 par common

ISRAEL INVESTORS CORPORATION
$1.00 par common

HOSPITAL TRUST CORPORATION
$1.00 par common

Addition to List




♦INFORMATION DISPLAYS, INC.
$.50 par common

-

10

-

JLG INDUSTRIES, INC.
$.20 par capital

*JMB REALTY TRUST
No par shares of beneficial
interest
JACKSON NATIONAL LIFE
INSURANCE COMPANY
$1.15 par common
♦JACOBSON STORES INC.
$1.00 par common

KENTUCKY CENTRAL LIFE INSURANCE
COMPANY
Class A, non-voting,
$1.00 par common
♦KEUFFEL & ESSER COMPANY
$1.00 par common
KEVEX CORPORATION
$.01 par common

JAMESBURY CORPORATION
$1.00 par common

KEWAUNEE SCIENTIFIC EQUIPMENT
CORPORATION
$2.50 par common

JEFFERSON BANKSHARES, INC.
$2.50 par common

KEY BANKS, INC.
$5.00 par common

JEFFERSON NATIONAL LIFE INSURANCE
COMPANY
$1.00 par capital

KEY ENERGY ENTERPRISES, INC.
$.10 par common

JERRICO, INC.
No par common
JHIRMACK ENTERPRISES, INC.
$. 10 par common
♦JONES INTERCABLE, INC.
$.01 par common
JOSLYN MFG. AND SUPPLY CO.
$1.25 par common
JUDY'S INC.
$.50 par common
JUSTIN INDUSTRIES, INC.
$2.50 par common
KDI CORPORATION
$.35 par common
KRM PETROLEUM CORPORATION
$.10 par common

KIMBALL INTERNATIONAL, INC.
Class B, $.62-1/2 par common
KINDER-CARE LEARNING CENTERS, INC.
$.50 par common
7-1/2% convertible subordinated
debentures

LANCASTER COLONY CORPORATION
$1.00 par common
LANCE, INC.
$.83-1/3 par common
LAND OF LINCOLN SAVINGS AND LOAN
$1.00 par common
LAND RESOURCES CORPORATION
$.10 par common
LANDMARK BANCSHARES CORPORATION
$5.00 par common
LANDMARK BANKING CORPORATION
OF FLORIDA
$1.00 par common
LANE COMPANY, INC., THE
$5.00 par common
LAWSON PRODUCTS INC.
No par common, $1.00 stated
value
LEISURE DYNAMICS, INC.
$1.00 par common

KING INTERNATIONAL CORPORATION
$1.00 par common
KINNARD COMPANIES, INC.
$.10 par common
KNAPE & VOGT MANUFACTURING COMPANY
$2.00 par common
KNUDSEN CORPORATION
$1.00 par common
♦KOGER COMPANY, THE
$.10 par common
KOSS CORPORATION
$.01 par common

LEWIS, PALMER G. COMPANY, INC.
$1.00 par common
LIBERTY HOMES, INC.
$1.00 par common
LIBERTY NATIONAL BANCORP, INC.
$8.33-1/3 par common
LIBERTY NATIONAL CORPORATION
$5.00 par common
LIFE INVESTORS INC.
$1.00 par common

KALVAR CORPORATION
$.02 par common

KRATOS INC.
No par common

KAMAN CORPORATION
Class A, $1.00 par common

KROY INC.
$.50 par common

LIFETIME COMMUNITIES, INC.
$.05 par common

KANSAS CITY LIFE INSURANCE COMPANY
$7.50 par common

KRUEGER, W. A. COMPANY
$1.25 par common

LIMITED STORES, INC., THE
No par common

KEARNEY-NATIONAL INC.
$.50 par common

KULICKE & SOFFA INDUSTRIES, INC.
No par common

LIN BROADCASTING CORPORATION
$2.00 par common

KELDON OIL COMPANY
No par common

LDB CORPORATION
$1.00 par common

LINCOLN FINANCIAL CORPORATION
No par common, $10.00
stated value

KELLY SERVICES, INC.
$1.00 par common

LA-Z-BOY CHAIR COMPANY
$1.00 par common

KEMPER CORPORATION
$5.00 par common

LACLEDE STEEL COMPANY
$20.00 par common

KENNINGTON, LTD., INC.
$.10 par common

LAKE SUPERIOR DISTRICT POWER COMPANY
$10.00 par common

LINCOLN INCOME LIFE INSURANCE
COMPANY
$1.00 par common

KENT-MOORE CORPORATION
$1.00 par common

LAKEWOOD BANK AND TRUST COMPANY
$3.00 par common

LINCOLN TELECOMMUNICATIONS COMPANY
$3,125 par common

Addition to List




— 11—

LINCOLN FIRST BANKS INC.
$10.00 par common
$4.50 par convertible preferred

LINDBERG CORPORATION
$2.50 par common
LIQUID AIR CORPORATION
OF NORTH AMERICA
No par common
LIQUI-BOX CORPORATION
No par common
LITTLE, ARTHUR D. INC.
$1.00 par common
LOGETRONICS INC.
$.16-2/3 par common
LONGVIEW FIBRE COMPANY
$7.50 par common
LOUISIANA LAND OFFSHORE
EXPLORATION COMPANY, INC.
$1.00 par common
LUBY'S CAFETERIAS, INC.
$.32 par common

♦LYNDEN TRANSPORT, INC.
$1.00 par common
LYON METAL PRODUCTS, INC.
$2.50 par common
MCI COMMUNICATIONS CORPORATION
$.10 par common
*
$1.84 par cumulative convertible
preferred
M & T MORTGAGE INVESTORS
$1.00 par shares of beneficial
interest
♦M.D.C. CORPORATION
$.01 par common
MFY INDUSTRIES, INC.
$.25 par common
MGF OIL CORPORATION
$1.00 par common
MTS SYSTEMS CORPORATION
$.25 par common
MACDERMID INC.
No par common
MADISON GAS AND ELECTRIC COMPANY
$8.00 par common
MAGIC CIRCLE ENERGY CORPORATION
$.10 par common

MAGNETICS INTERNATIONAL, INC.
No par common
*MAGNUSON COMPUTER SYSTEMS, INC.
No par common

M c Fa r l a n d e n e r g y , i n c .
No par common
McM CORPORATION
$1.00 par common

MALLINCKRODT, INC.
$1.00 par common

McQUAY-PERFEX INC.
$1.00 par common

MANITOWOC COMPANY, INC., THE
$2.50 par common

McRAE CONSOLIDATED OIL
& GAS, INC.
$.01 par common

MANUFACTURERS NATIONAL CORPORATION
$10.00 par common
MARCADE GROUP INC.
$.10 par common
MARCUS CORPORATION, THE
$1.00 par common
MARINE CORPORATION, THE
$10.00 par common
MARINE PETROLEUM TRUST
Units of beneficial interest
MARION CORPORATION
$1.00 par common
MARK TWAIN BANCSHARES, INC.
$2.50 par common
MARSH SUPERMARKETS, INC.
No par common
MARSHALL & ILSLEY CORPORATION
$2.50 par common
MARVIN JOSEPHSON ASSOCIATES, INC.
$.05 par common
MARYLAND NATIONAL CORPORATION
$2.50 par common

MEDCOM, INC.
$.10 par common
MEDEX INC.
$.01 par common
MEDFORD CORPORATION
$1.00 par common
MENTOR CORPORATION
$.10 par common
MERCANTILE BANCORPORATION INC.
(Missouri)
$5.00 par common
MERCANTILE BANKSHARES CORPORATION
(Maryland)
$2.00 par common
No par cumulative convertible
preferred
♦MERCHANTS BANK OF NEW YORK, THE
$3,125 par capital
MERCHANTS NATIONAL CORPORATION
No par common, $5.00 stated val
MERRILL BANKSHARES COMPANY
$4.00 par common

METALLURGICAL INDUSTRIES INC.
♦MATAGORDA DRILLING AND EXPLORATION COMPANY
C1ass A » $-10 Par common
$.02 par common
MEYER, FRED INC.
No par common
MATHEMATICAL APPLICATIONS GROUP, INC.
$.05 par common
MICHIGAN NATIONAL CORPORATION
$10.00 par common
MAUI LAND & PINEAPPLE COMPANY, INC.
No par common
MICRO MASK, INC.
$1.00 par common
*MAXCO, INC.
$1.00 par common
MICRODYNE CORPORATION
$.10 par common
MAY PETROLEUM INC.
$.05 par common
MID-AMERICA INDUSTRIES, INC.
$1.00 par common
MAYFLOWER CORPORATION
No par common
♦MID-AMERICA PETROLEUM, INC.
$.02 par common

MAGMA ENERGY, INC.
$.02 par common

MAYNARD OIL COMPANY
$.10 par common

MIDDLESEX WATER COMPANY
No par common

MAGMA POWER COMPANY
$.10 par common

McCORMICK & COMPANY, INC.
Non-voting, no par common

MIDLAND BANCORP, INC.
$5.00 par common

MAGNETIC CONTROLS COMPANY
$.20 par common

McCORMICK OIL & GAS COMPANY
$.10 par common

MIDLAND CAPITAL CORPORATION
$1.00 par common

Addition to List




— 12—

MIDLAND RESOURCES, INC.
$.50 par common

♦MONITOR LABS, INC.
$.01 par common

MIDLAND SOUTHWEST CORPORATION
$1.00 par common

♦MONOLITHIC MEMORIES, INC.
$.04 par common

MIDLANTIC BANKS INC.
$10.00 par common
No par cumlative convertible
preferred
Second Series, no par
convertible preferred
MIDNITE MINES INC.
$.10 par common
MIDWESTERN DISTRIBUTION, INC.
Class A, no par common
♦MIDWESTERN RESOURCES, INC.
$.001 par common
MILLER, HERMAN INC.
$.20 par common
♦MILLER TECHNOLOGY & COMMUNICATIONS
CORPORATION
No par common
MILLIPORE CORPORATION
$.08-1/3 par common
MINE SAFETY APPLIANCES COMPANY
$.83-1/3 par common
MINERALS ENGINEERING COMPANY
$.01 par common
MINI-COMPUTER SYSTEMS, INC.
$.10 par common
MINNESOTA FABRICS, INC.
$.05 par common
MINNETONKA, INC.
$.03-1/3 par common
MISCHER CORPORATION, THE
$1.00 par common

MONUMENTAL CORPORATION
$3.50 par common
MOORE FINANCIAL GROUP, INC.
$2.50 par common
MOORE PRODUCTS COMPANY
$1.00 par common
MOR-FLO INDUSTRIES, INC.
$.50 par common

NATIONAL CENTRAL FINANCIAL
CORPORATION
$5.00 par common
NATIONAL CITY CORPORATION
$4.00 par common
NATIONAL COMMERCE BANCORPORATION
$2.00 par common
NATIONAL COMMUNITY BANK
OF NEW JERSEY
$6.25 par common
NATIONAL COMPUTER SYSTEMS, INC.
$.03 par common
k
9.25% convertible subordinated
debentures

MORAGA CORPORATION
$1.00 par common

NATIONAL DATA COMMUNICATIONS, INC.
$.50 par common

MORRISON INC.
$2.00 par common

NATIONAL DATA CORPORATION
$.125 par common

MORTGAGE INVESTORS OF WASHINGTON
$1.00 par shares of beneficial
interest

NATIONAL LAMPOON, INC.
$.10 par common

MOSELEY, HALLGARTEN, ESTABROOK
& WEEDEN HOLDING CORPORATION
$.10 par common

MOSINEE PAPER CORPORATION
$2.50 par common
MOTOR CLUB OF AMERICA
$.50 par common
MOUNTAIN BANKS, LTD.
$5.00 par common
MOXA ENERGY CORPORATION
$.10 par common
MOXIE INDUSTRIES, INC.
$1.00 par common
♦MULTIBANK FINANCIAL CORP.
$6.25 par common

NATIONAL MICRONETICS, INC.
$.10 par common
NATIONAL OLD LINE INSURANCE
COMPANY
Class BB, $1.00 par common
NATIONAL SAVINGS CORPORATION
$1.00 par common
NATIONAL SECURITY INSURANCE COMPANY
$1.00 par common
NATIONAL STATE BANK, THE
(Elizabeth, N. J.)
$7.00 par common
NATIONAL UTILITIES & INDUSTRIES
CORPORATION
$10.00 par common
NATIONAL WESTERN LIFE INSURANCE
COMPANY
Class A, $1.00 par common

MISSISSIPPI VALLEY GAS COMPANY
$5.00 par common

MULTIMEDIA, INC.
$1.00 par common

MR. STEAK, INC.
No par common

MUTUAL REAL ESTATE INVESTMENT TRUST
$1.00 par shares of beneficial
interest

MOBILE COMMUNICATIONS CORPORATION
OF AMERICA
$.30 par common

MYERS INDUSTRIES, INC.
No par common

MOBILE GAS SERVICE CORPORATION
$2.50 par common

MYLAN LABORATORIES INC.
$.50 par common

♦NETWORK SYSTEMS CORPORATION
$.02 par common

MOLEX INC.
$.05 par common

NBI, INC.
$.10 par common

♦NETWORKS ELECTRONIC CORPORATION
$.50 par common

MONARCH CAPITAL CORPORATION
$1.00 par common

N D RESORUCES, INC.
$.10 par common

NEVADA NATIONAL BANCORPORATION
$1.00 par common

MONFORT OF COLORADO, INC.
$1.00 par common

NARRAGANSETT CAPITAL CORPORATION
$1.00 par common

NEVADA SAVINGS AND LOAN ASSOCIATION
$.3277 par capital

Addition to List




-1 3 -

NATIONWIDE CORPORATION
Class A, $2.50 par common
NAVCO CORPORATION
$.25 par common
NELSON, THOMAS INC.
$1.00 par common

NEW AMERICA FUND, INC.
$1.00 par common

NORTHEAST BANCORP, INC.
$5.00 par common

NEW BRUNSWICK SCIENTIFIC CO., INC.
$.0625 par common

NORTHERN NATIONAL CORPORATION
$5.00 par common

NEW ENGLAND MERCHANTS COMPANY, INC.
$5.00 par common

NORTHERN STATES BANCORPORATION, INC.
$5.00 par common

NEW JERSEY NATIONAL CORPORATION
$5.00 par common

NORTHERN TRUST CORPORATION
$10.00 par common

NEW JERSEY NATURAL GAS COMPANY
$5.00 par common
NEW VIRGINIA BANCORPORATION
$1.00 par common
NEWPORT CORPORATION
No par common, $.35
stated value
NEWPORT PHARMACEUTICALS
INTERNATIONAL, INC.
$.10 par common
NICKLOS OIL & GAS COMPANY
$.05 par common
NICOLET INSTRUMENT CORPORATION
$.25 par common
NIELSEN, A. C. COMPANY
Class A, $1.00 par common
Class B, $1.00 par common
*NITRON, INC.
No par common
♦NOBILITY HOMES INC.
$.10 par common
NOLAND COMPANY
$10.00 par common
NORD RESOURCES CORPORATION
$.01 par common

NORDSON CORPORATION
$1.00 par common
NORDSTROM, INC.
No par common
NORSTAN, INC.
$.10 par common
♦NORTH AMERICAN NATIONAL CORPORATION
$1.00 par common
NORTH CAROLINA NATURAL GAS
CORPORATION
$2.50 par common

NORTHWEST NATURAL GAS COMPANY
$3.00-1/6 par common
*
Series $2,375, no par convertible
preferred
NORTHWESTERN FINANCIAL CORPORATION
$1.00 par common
NORTHWESTERN NATIONAL LIFE
INSURANCE COMPANY
$1.25 par common
NORTHWESTERN PUBLIC SERVICE COMPANY
$7.00 par common
NORTHWESTERN STATES PORTLAND
CEMENT COMPANY
$10.00 par common
NOVUS PROPERTY COMPANY
$1.00 par shares of
beneficial interest
NOXELL CORPORATION
Class B, non-voting,
$1.00 par common
NUCLEAR MEDICAL SYSTEMS, INC.
$.04 par common
NUCLEAR METALS, INC.
$.10 par common

♦OIL SECURITIES, INC.
$.05 par common
OILGEAR COMPANY, THE
$1.00 par common
♦OKLAHOMA ENERGIES CORPORATION
$.001 par common
♦OLD DOMINION REAL ESTATE
INVESTMENT TRUST
No par shares of beneficial intere
OLD KENT FINANCIAL CORPORATION
$10.00 par common
OLD NATIONAL BANCORPORATION
$5.00 par common
OLD REPUBLIC INTERNATIONAL
CORPORATION
$1.00 par common
OLD STONE CORPORATION
$1.00 par common
$1.00 par cumulative
convertible preferred
OLSTEN CORPORATION, THE
$.10 par common
OLYMPIA BREWING COMPANY
$10.00 par common
OMAHA NATIONAL CORPORATION
$5.00 par common
OMEGA OPTICAL COMPANY, INC.
$.05 par common
♦OMNIMEDICAL, INC.
No par common

NUCLEAR PHARMACY, INC.
$.05 par common

OPTICAL COATING LABORATORY,
INC.
No par common

NUCORP ENERGY INC.
$.50 par common

OPTICAL RADIATION CORPORATION
$.50 par common

0.1. CORPORATION
$. 10 par common
OCEANEERING INTERNATIONAL, INC.
$.25 par common
OFFSHORE LOGISTICS, INC.
No par common
No par preferred
OGILVY & MATHER INTERNATIONAL
INC.
$1.00 par common
OHIO CASUALTY CORPORATION
$.25 par common

♦OPTIMUM HOLDING CORPORATION
$.20 par common
ORBANCO FINANCIAL SERVICES
CORPORATION
No par common
♦ORBIT INSTRUMENT CORPORATION
$.10 par common
OREGON METALLURGICAL CORPORATION
$1.00 par common
OREGON PORTLAND CEMENT COMPANY
No par common

NORTH EUROPEAN OIL
ROYALTY TRUST
No par units of beneficial
interest

OHIO CITIZENS BANCORP, INC.
$10.00 par common

OREGON TRAIL SAVINGS AND LOAN
ASSOCIATION
$2.00 par common

NORTH-WEST TELEPHONE COMPANY
$5.00 par common

OHIO FERRO-ALLOYS CORPORATION
$1.00 par common

ORION RESEARCH INC.
$.10 par common

•Addition to List




— 14—

OSHMAN'S SPORTING GOODS, INC.
$1.00 par common

PARKWAY COMPANY, THE
$1.00 par common

PICCADILLY CAFETERIAS, INC.
No par common

OSMONICS, INC.
$.01 par common

PATLEX CORPORATION
$.10 par common

PIEDMONT MANAGEMENT COMPANY INC.
$.50 par common

OTTER TAIL POWER COMPANY
$5.00 par common

PATTON OIL COMPANY
$.10 par common

PIERCE, S. S. COMPANY, INC.
$1.00 par common

OVERMYER CORPORATION
No par common

PAUL REVERE INVESTORS INC.
$1.00 par common

OWENS AND MINOR INC.
$2.00 par common

PAULEY PETROLEUM INC.
$1.00 par common

OXOCO
$.10 par common

PAY 'N PAK STORES, INC.
$.10 par common

PBA, INC.
$.01 par common

PAY'N SAVE CORPORATION
No par common

PCA INTERNATIONAL, INC.
$.20 par common

PAYLESS CASHWAYS, INC.
$.50 par common

PABST BREWING COMPANY
No par common

PEERLESS CHAIN COMPANY
$.25 par common

PACCAR INC.
$12.00 par common

PEERLESS MANUFACTURING COMPANY
$1.00 par common
PENN PACIFIC CORPORATION
$.50 par common

♦PACER TECHNOLOGY & RESOURCES, INC.
$.01 par common
PACESETTER CORPORATION, THE
$.25 par common
PACESETTER FINANCIAL CORPORATION
$10.00 par common
PACIFIC COAST HOLDINGS, INC.
No par common
PACIFIC GAMBLE ROBINSON COMPANY
$5.00 par common
PACIFIC RESOURCES, INC.
No par common

PENN VIRGINIA CORPORATION
$6.25 par common
PENNSYLVANIA ENTERPRISES, INC.
No par common
PENTAIR, INC.
$.16-2/3 par common
PEOPLES BAN CORPORATION
$5.00 par common
PETROL INDUSTRIES, INC.
$.10 par common
PETROLEUM DEVELOPMENT CORPORATION
$.01 par common

PINEHURST CORPORATION
$.50 par common
PINKERTON'S, INC.
Class B, non-voting,
no par common
PIONEER GROUP, INC., THE
$.10 par common
PIONEER HI-BRED INTERNATIONAL,
INC.
$1.00 par common
PIONEER-STANDARD ELECTRONICS
INC.
No par common
PITTSBURGH NATIONAL CORPORATION
$5.00 par common
PLANTERS NATIONAL BANK &
TRUST COMPANY (North Carolina)
$5.00 par common
PLENUM PUBLISHING CORPORATION
$.10 par common
♦POLY-SOUTHFIELD CORPORATION
No par common
POSI-SEAL INTERNATIONAL, INC.
$.01 par common

POSTAL INSTANT PRESS
No par common
POWELL INDUSTRIES, INC.
$.01 par common
PRECISION CASTPARTS CORP.
No par common

PACIFIC-SOUTHERN MORTGAGE TRUST
$1.00 par shares of beneficial
interest

PETROLEUM EQUIPMENT TOOLS COMPANY
$.50 par common

PACIFIC STANDARD LIFE COMPANY
$1.00 par common

PETROLITE CORPORATION
No par common

PREFERRED RISK LIFE INSURANCE
COMPANY
$1.00 par common

PACWEST BANCORP
$5.00 par common

PETTIBONE CORPORATION
$10.00 par common

PREMIER RESOURCES, LTD.
No par common

PALMETTO FEDERAL SAVINGS &
LOAN ASSOCIATION
$.01 par common

PHILADELPHIA NATIONAL CORPORATION
$1.00 par common

PANDICK PRESS, INC.
$.10 par common

PHOENIX RESOURCES COMPANY
Class B, $1.00 par common

♦PARAHO DEVELOPMENT CORPORATION
$.01 par common
PARK-OHIO INDUSTRIES, INC.
$1.00 par common

Addition to List




♦PHYSICIANS INSURANCE COMPANY OF OHIO
Class A, $4.00 par common
PIC 'N ' SAVE CORPORATION
$.25 par common

-1 5 —

PRESIDIO OIL COMPANY
$.10 par common
PRESTON STATE BANK
(Dallas, Texas)
$2.50 par capital
PRESTON TRUCKING COMPANY, INC.
$1.00 par common
PREWAY INC.
$.50 par common

PRINTRONIX, INC.
No par common

QUALITY CARE, INC.
$.01 par common

PRODUCTION OPERATIONS CORPORATION
$1.00 par common

*QUANTRONIX CORPORATION
$.01 par common

PROFESSIONAL INVESTORS CORPORATION
$1.00 par common

QUOTRON SYSTEMS, INC.
$.10 par common

PROGRESSIVE CORPORATION, THE
(Ohio)
$1.00 par common

RAI RESEARCH CORPORATION
$.01 par common

PROGROUP, INC.
$.50 par common
PROPERTY INVESTORS OF COLORADO
$1.00 par common
PROPERTY TRUST OF AMERICA
$1.00 par shares of beneficial
interest

PROTECTIVE CORPORATION
$1.00 par common
PROVIDENT LIFE AND ACCIDENT
INSURANCE COMPANY
$3.00 par common

RLI CORPORATION
$1.00 par common

♦RELIABILITY INCORPORATED
No par common

REPUBLIC AUTOMOTIVE PARTS, INC.
$.50 par common

RSR CORPORATION
$.01 par common

RESEARCH, INC.
$.50 par common

RADIATION SYSTEMS, INC.
$1.00 par common

RESEARCH INDUSTRIES CORPORATION
$1.00 par common

♦RADIATION TECHNOLOGY, INC.
$.01 par common

RADIOFONE CORPORATION
$.10 par common

PULASKI FURNITURE CORPORATION
$5.00 par common

REID-PROVIDENT LABORATORIES, INC.
$1.00 par common

RSI CORPORATION
$.05 par common

PRUDENTIAL FEDERAL SAVINGS &
LOAN ASSOCIATION
$1.00 par common

PUGET SOUND NATIONAL BANK
No par common

♦REHAB, C. P. CORP.
$.05 par common

RELIABLE INVESTORS CORPORATION
$.25 par common

RADICE CORPORATION
$.20 par common

PUBLIC SERVICE COMPANY OF
NORTH CAROLINA, INC.
$1.00 par common

REGENCY ELECTRONICS, INC.
No par common

RPM, INC.
No par common, $.10
stated value

PROVIDENT NATIONAL CORPORATION
$1.00 par common

PUBCO CORPORATION
$.40 par common

REFAC TECHNOLOGY DEVELOPMENT
CORPORATION
$.10 par common

RAGEN PRECISION INDUSTRIES, INC.
$.25 par common
RAINIER BANCORPORATION
$2.50 par common
RAMAPO FINANCIAL CORPORATION
$2.00 par common
RAMTEK CORPORATION
No par common

RESERVE OIL AND MINERALS
CORPORATION
$1.00 par common

REUTER, INC.
$.18-3/4 par common
REYNOLDS AND REYNOLDS COMPANY, THE
Class A, $1.25 par common
RHODES, INC.
$1.00 par common
RIGGS NATIONAL CORPORATION
$5.00 par common
RIVAL MANUFACTURING COMPANY
$1.00 par common
ROADWAY EXPRESS, INC.
No par common

PURCELL COMPANY, INC.
$1.00 par common

RANGAIRE CORPORATION
$.10 par common
RAPIDATA, INC.
$.01 par common

ROBBINS & MYERS, INC.
No par common

PURITAN-BENNETT CORPORATION
$1.00 par common

RAYCHEM CORPORATION
No par common

ROBERTS & PORTER, INC.
$1.00 par common

PUTNAM DUOFUND, INC.
$1.00 par capital shares
$1.00 par income shares

RAYMOND CORPORATION, THE
$1.50 par common

ROBINSON NUGENT, INC.
No par common

PYRAMID OIL COMPANY
No par common

RAYPAK, INC.
$.15 par common

Q1 CORPORATION
$.01 par common

REAL ESTATE INVESTMENT PROPERTIES
$1.00 par shares of beneficial
interest

QUADREX CORPORATION
No par common

REDKEN LABORATORIES, INC.
$.50 par common

QUAKER CHEMICAL CORPORATION
$1.00 par common

REEVES COMMUNICATIONS CORPORATION
$.40 par common

Addition to List




— 16—

♦ROBOTIC VISION SYSTEMS, INC.
$.01 par common
ROCKCOR, INC.
No par common
ROCKWOOD NATIONAL CORPORATION
$.25 par common
ROCKY MOUNTAIN NATURAL GAS
COMPANY, INC.
$3.00 par common

ROLLINS BURDICK HUNTER COMPANY
$.50 par common

SCHERER, R. P. CORPORATION
$.33-1/3 par common

SERVICO, INC.
$.10 par common

ROOSEVELT NATIONAL INVESTMENT
COMPANY
Class A, $1.00 par common

SCHOLASTIC INC.
$.25 par common

SHARED MEDICAL SYSTEMS CORPORATION
$.01 par common

SCHULMAN, A., INC.
$1.00 par common

SHAWMUT CORPORATION
$5.00 par common

SCIMED LIFE SYSTEMS, INC.
$.05 par common

SHELDAHL, INC.
$.25 par common

ROPER INDUSTRIES, INC.
$5.00 par common
ROSE'S STORES, INC.
Class B, $1.25 par common
ROSPATCH CORPORATION
$5.00 par common
ROUSE COMPANY, THE
$.01 par common
ROVAC CORPORATION, THE
$.01 par common

SCIENTIFIC COMPUTERS, INC.
$.10 par common
SCIENTIFIC SOFTWARE CORPORATION
No par common
SCOPE INC.
$1.00 par common

ROWE FURNITURE CORPORATION
$1.00 par common

SCRIPPS-HOWARD BROADCASTING
COMPANY
$1.00 par common

RUSSELL STOVER CANDIES, INC.
$1.00 par common

SEAL FLEET, INC.
Class A, $.10 par common

RYAN INSURANCE GROUP, INC.
$1.00 par common
SCI SYSTEMS, INC.
$.10 par common
SFE TECHNOLOGIES
$1.00 par common
SRI CORPORATION
$2.00 par common
STSC INC.
$.10 par common
SAFECARD SERVICES, INCORPORATED
$.01 par common
SAFECO CORPORATION
$5.00 par common
SAFETY-KLEEN CORPORATION
$.10 par common
ST. JUDE MEDICAL, INC.
$.10 par common
ST. PAUL COMPANIES, INC., THE
$1.50 par common
SALEM CARPET MILLS, INC.
$1.00 par common
♦SAN/BAR CORPORATION
No par common
SAVANNAH FOODS & INDUSTRIES, INC.
$.25 par common

♦SEATTLE TRUST & SAVINGS BANK
$14.00 par common
SEAWAY FOOD TOWN, INC.
No par common, $2.00 stated
val ue
SECURITY AMERICAN FINANCIAL
ENTERPRISES, INC.
$1.00 par common
SECURITY BANCORP, INC.
$.01 par common
SECURITY LIFE INSURANCE
COMPANY OF GEORGIA
$1.00 par common
SECURITY NEW YORK STATE
CORPORATION
$5.00 par common
SEIBELS BRUCE GROUP, INC., THE
$1.00 par common
SEMICON, INC.
$.25 par common
SENECA OIL COMPANY
$.50 par common
SENSORMATIC ELECTRONICS
CORPORATION
$.01 par common
♦SERVICE FRACTURING COMPANY
$1.00 par common

SHONEY'S, INC.
$1.00 par common
SHOP & GO, INC.
$.01 par common
SHOPSMITH, INC.
No par common
SHOREWOOD CORPORATION, THE
$1.00 par common
SIBONEY CORPORATION
$.10 par common
SIERRA RESEARCH CORPORATION
$.06-2/3 par common
SIGMA-ALDRICH CORPORATION
$1.00 par common
SIGMAFORM CORPORATION
$.23 par common
SIGMOR CORPORATION
Class A, $1.00 par common
SILICONIX INC.
No par capital
SILTEC CORPORATION
No par common
SILVER KING MINES, INC.
$1.00 par common

♦SILVEY CORPORATION
No par common
SIMPSON INDUSTRIES, INC.
$1.00 par common
SMITHFIELD FOODS, INC.
$1.00 par common
SOCIETY CORPORATION
$1.00 par common
SOLID STATE TECHNOLOGY INC.
$.01 par common
SOLOMON, SAM COMPANY, INC.
$.10 par common

SAVE-WAY INDUSTRIES, INC.
$.10 par common

SERVICE MERCHANDISE COMPANY, INC.
$1.00 par common

SOLON AUTOMATED SERVICES INC.
$.10 par common

SCHAAK ELECTRONICS, INC.
$.10 par common

SERVICEMASTER INDUSTRIES INC.
$1.00 par common

SONOCO PRODUCTS COMPANY
No par common

Addition to List




-1 7 -

SONOMA VINEYARDS
$.25 par common
*SORG PRINTING COMPANY, INC.
$1.00 par common

STANDARD REGISTER COMPANY, THE
$.50 par common

♦SYSTEMATICS GENERAL CORPORATION
$.01-1/3 par common

STANDUN INC.
$1.00 par common

*T G BANCSHARES COMPANY
$5.00 par common

SOUTH CAROLINA NATIONAL CORPORATION
$5.00 par common

STANLEY HOME PRODUCTS, INC.
Non-voting, $1.00 par common

SOUTHEAST NATIONAL BANK OF
PENNSYLVANIA
$6.00 par common

STATE NATIONAL BANCORP, INC.
$1.00 par common

SOUTHERN BANCORPORATION, INC.
$2.50 par common
SOUTHERN BANCORPORATION OF ALABAMA
$2.50 par common
SOUTHERN CALIFORNIA WATER COMPANY
$5.00 par common

STATE STREET BOSTON CORPORATION
$10.00 par common
STATESMAN GROUP, INC., THE
$1.00 par common
STEAK N SHAKE, INC.
No par common

SOUTHERN NATIONAL CORPORATION
$5.00 par common

STECHER-TRAUNG-SCHMIDT
CORPORATION
$5.00 par common

SOUTHLAND BANCORPORATION
$2.50 par common

STEWART & STEVENSON SERVICES, INC.
No par common

SOUTHLAND FINANCIAL CORPORATION
$1.00 par common
SOUTHWEST BANK
No par common
SOUTHWEST FACTORIES, INC.
$.40 par common
SOUTHWEST LEASING CORPORATION
$.10 par common
SOUTHWESTERN ELECTRIC SERVICE
COMPANY
$1.00 par common
SOUTHWESTERN ENERGY COMPANY
$2.50 par common
SOVEREIGN CORPORATION
$1.00 par common
SPECTRADYNE, INC.
No par common
SPECTRUM CONTROL INC.
No par common
♦SPIRAL METAL COMPANY, INC.
$.01 par common

STEWART INFORMATION SERVICES
CORPORATION
$1.00 par common

TAMPAX INC.
$.25 par common
TANDEM COMPUTERS INC.
$.05 par common
TAYLOR RENTAL CORPORATION
$1.00 par common
♦TEAM, INC.
$.30 par common
♦TECHTRAN INDUSTRIES INC.
$.01 par common

STRAWBRIDGE & CLOTHIER
$5.00 par common

TELE-COMMUNICATIONS, INC.
Class A, $1.00 par common
Class B, $1.00 par common

STROTHER DRUG COMPANY
$2.00 par common
STRUTHERS OIL & GAS CORPORATION
$.10 par common
STRYKER CORPORATION
$.10 par common
SUBARU OF AMERICA, INC.
$.01 par common
SUBURBAN BANCORPORATION
$5.00 par common
SUMITOMO BANK OF CALIFORNIA, THE
$5.00 par common
SUPERIOR ELECTRIC COMPANY, THE
$1.00 par common

STANADYNE, INC.
$5.00 par common

SYKES DATATRONICS, INC.
$.10 par common

♦STANDARD LOGIC, INC.
$.025 par common

♦SYMBOL TECHNOLOGIES, INC.
$.01 par common




♦TSI INC.
$.10 par common

TECUMSEH PRODUCTS COMPANY
$1.00 par common

SUPREME EQUIPMENT & SYSTEMS
CORPORATION
$.66-2/3 par common

•Addition to List

TPC COMMUNICATIONS INC.
$.01 par common

STEWART SANDWICHES, INC.
$1.00 par common

STAFF BUILDERS, INC.
$.10 par common

STANDARD MICROSYSTEMS CORPORATION
$.10 par common

T.I.M.E.-DC, INC.
$2.00 par common
Series A, $10.00 par cumulati
convertible preferred

♦SYSTEM INDUSTRIES, INC.
$.01 par common

— 18—

TELECO OILFIELD SERVICES INC.
$.1/10 par common
TELECOM EQUIPMENT CORPORATION
$.01 par common
TELECREDIT, INC.
$.01 par common
♦TELEPICTURES CORPORATION
$.01 par common
TELEPHONE UTILITIES, INC.
$1.00 par common
TELERENT LEASING CORPORATION
$.50 par common
♦TELLABS, INC.
No par common
TEMTEX INDUSTRIES, INC.
$.20 par common
TENNANT COMPANY
$.375 par common
TENNECO OFFSHORE COMPANY, INC.
$1.00 par common
TENNESSEE NATURAL GAS LINES,
INC.
$1.00 par common

TENNESSEE VALLEY BANCORP, INC.
$6.66-2/3 par common

TRANSIDYNE GENERAL CORPORATION
$.10 par common

UNION SPECIAL CORPORATION
$1.00 par common

TERMINAL DATA CORPORATION
$1.00 par common

TRANSIERRA EXPLORATION CORPORATION
$.10 par common

UNION TRUST BANCORP
$5.00 par common

TESDATA SYSTEMS CORPORATION
$.01 par common

TRANSPORT LIFE INSURANCE COMPANY
$1.00 par common

TEXAS AMERICAN BANCSHARES, INC.
$5.00 par common

UNIT DRILLING & EXPLORATION
COMPANY
$.20 par common

TRI-CHEM, INC.
$.20 par common

♦TEXAS AMERICAN RESOURCES, INC.
$.01 par common
THETFORD CORPORATION
$.25 par common
THIRD NATIONAL CORPORATION
$10.00 par common
THOUSAND TRAILS, INC.
No par common
THRESHOLD TECHNOLOGY INC.
$.01 par common
TIDELANDS ROYALTY TRUST "B"
Units of beneficial
interest
♦TIERCO GROUP, INC., THE
$1.00 par common
TIMBERLAND INDUSTRIES, INC.
$.16 par common
♦TIME SHARING RESOURCES, INC.
$.01 par common

TRIAD SYSTEMS CORPORATION
No par common
TRICO PRODUCTS CORPORATION
No par common
♦TRION INC.
$.50 par common
TRUS JOIST CORPORATION
$1.00 par common
TRUST COMPANY OF GEORGIA
$5.00 par capital
TUCKER DRILLING COMPANY, INC.
$.01 par common
TURF PARADISE, INC.
No par common
TWIN CITY BARGE INC.
$1.00 par common
♦TYLAN CORPORATION
No par common

TIPPERARY CORPORATION
$.50 par common

TYSON FOODS, INC.
$1.00 par common

TOCOM, INC.
$.10 par common

UA-COLUMBIA CABLEVISION, INC.
$.05 par common

TOLEDO MINING COMPANY
$.50 par common

USP REAL ESTATE INVESTMENT TRUST
$1.00 par shares of
beneficial interest

TOLEDO TRUSTCORP, INC.
$20.00 par common

♦UNITED AMERICAN ENERGY, INC.
No par common
UNITED ARTISTS THEATRE
CIRCUIT, INC.
$1.00 par common
UNITED BANCORP OF ARIZONA
$5.00 par common
UNITED BANK CORPORATION
OF NEW YORK
$5.00 par common
UNITED BANKS OF COLORADO,
INC.
$2.50 par common
UNITED CABLE TELEVISION
CORPORATION
$.10 par common
UNITED CAROLINA BANCSHARES
CORPORATION
$4.00 par common

UNITED CENTRAL BANCSHARES, INC.
$1.00 par common
UNITED CITIES GAS COMPANY
$3.33-1/3 par common
UNITED FIRE & CASUALTY COMPANY
$3.33-1/3 par common
UNITED INTERNATIONAL RESEARCH, INC.
$.10 par common

UTL CORPORATION
$.50 par common

UNITED KENTUCKY, INC.
$10.00 par common

UNIFI, INC.
$.10 par common

UNITED MISSOURI BANCSHARES, INC.
$12.50 par common

UNIMED, INC.
$.25 par common

UNITED PRESIDENTIAL CORPORATION
$1.00 par common

UNION ELECTRIC STEEL
CORPORATION
$1.25 par common

UNITED SERVICES LIFE
INSURANCE COMPANY
$1.00 par common

TOREADOR ROYALTY CORPORATION
$.15625 par common

UNION METAL MANUFACTURING
COMPANY, THE
$1.00 par common

U. S. BANCORP
$5.00 par common

TOWERMARC
$1.00 par shares of
beneficial interest

UNION NATIONAL BANK OF PITTSBURGH,
THE
$8.33-1/3 par common

TOM BROWN, INC.
$. 10 par common
TOMLINSON OIL COMPANY, INC.
No par common
Warrants (expire 03/06/82)
*
12.25% convertible subordinated
debentures
TONY LAMA COMPANY, INC.
$1.00 par common

♦TRANS-WESTERN EXPLORATION, INC.
No par common

Addition to List




UNION PLANTERS CORPORATION
$5.00 par common

-19-

U. S. ENERGY CORPORATION
$.01 par common
♦UNITED STATES MUTUAL REAL ESTATE
INVESTMENT TRUST
No par shares of beneficial
interest

UNITED STATES SUGAR
CORPORATION
$1.00 par common
UNITED STATES SURGICAL CORPORATION
$.10 par common
U. S. TRUCK LINES INC.
OF DELAWARE
$1.00 par common
U. S. TRUST CORPORATION
$5.00 par common
UNITED VIRGINIA BANKSHARES, INC.
$10.00 par common
♦UNIVERSAL ENERGY CORPORATION
$.01 par common
♦UNIVERSAL FUELS COMPANY
$.01 par common
UNIVERSAL SECURITY INSTRUMENTS,
INC.
$.01 par common
UNIVERSAL VOLTRONICS CORPORATION
$.05 par common
UNIVERSITY PATENTS, INC.
No par common
UNIVERSITY REAL ESTATE TRUST
No par shares of beneficial
interest

VAN SCHAACK & COMPANY
$1.00 par common
VANDERBILT ENERGY CORPORATION
$.10 par common

WESPERCORP
No par common

VARLEN CORPORATION
$.10 par common

WEST CHEMICAL PRODUCTS, INC.
$.50 par common

VAUGHAN-JACKLIN CORPORATION, THE
$.10 par common

WESTERN CASUALTY AND SURETY
COMPANY, THE
$1.25 par capital

♦VETA GRANDE COMPANIES, INC., THE
$.01 par common
VICTORIA STATION INC.
$.10 par common

UTAH BANCORPORATION
No par common
VACATION SPA RESORTS INC.
$.10 par common
VAIL ASSOCIATES, INC.
No par common
VALLEY BANCORPORATION (Wisconsin)
$5.00 par common
VALLEY NATIONAL CORPORATION
$2.50 par common

WESTERN DIGITAL CORPORATION
$.10 par common
WESTERN GEAR CORPORATION
$1.00 par common

VIDEO CORPORATION OF AMERICA
$.01 par common
VIRGINIA INTERNATIONAL COMPANY
$.01 par special stock

WESTERN MARINE ELECTRONICS
COMPANY, INC.
No par common

VIRGINIA NATIONAL BANKSHARES,
INC.
$5.00 par common

WESTERN NATURAL GAS COMPANY
$.10 par common

VITRAMON, INC.
$.10 par common
VOLT INFORMATION SCIENCES, INC.
$.10 par common
VOLUNTEER CAPITAL CORPORATION
$.05 par common

WESTERN PREFERRED CORPORATION
$.20 par common
WESTERN STATES LIFE INSURANCE COMPAN
$1.00 par common
WESTMORELAND COAL COMPANY
$2.50 par common
WESTPORT COMPANY, THE
No par shares of
beneficial interest

♦UP-RIGHT, INC.
No par common
UPPER PENINSULA POWER COMPANY
$9.00 par common

♦WEIGH-TRONIX, INC.
No par common, $.50 stated value

VOYAGER GROUP, INC.
$1.00 par common
VYQUEST INC.
$.01 par common
WD-40 COMPANY
No par common
WALBRO CORPORATION
$1.00 par common
WALDBAUM, INC.
$1.00 par common
WALTER REALTY INVESTORS, INC.
$.10 par common

♦WESTWORLD, INC.
$1.00 par common
WETTERAU INC.
$1.00 par common
WEYENBERG SHOE MANUFACTURING
COMPANY
$1.00 par common
WIENER ENTERPRISES, INC.
$1.00 par common
WILEY, JOHN & SONS INC.
$1.00 par common
WILLAMETTE INDUSTRIES, INC.
$.50 par common

VALLEYLAB, INC.
No par common

WARNER ELECTRIC BRAKE &
CLUTCH COMPANY
$1.00 par common

VALMONT INDUSTRIES, INC.
$1.00 par common

WASHINGTON ENERGY COMPANY
$5.00 par common

VALTEK INC.
$.20 par common

WASHINGTON SCIENTIFIC INDUSTRIES, INC.
$.10 par common

VAN DUSEN AIR INC.
$1.00 par common

WAUSAU PAPER MILLS COMPANY
$.50 par common

WISCONSIN REAL ESTATE INVESTMENT
TRUST
$1.00 par shares of beneficial
interest

VAN DYK RESEARCH CORPORATION
$.10 par common

WAVETEK
No par common

WISER OIL COMPANY, THE
$10.00 par common

•Addition to List




—2 0 -

WILMINGTON TRUST COMPANY
$6.25 par capital
WILSON, H. J. COMPANY, INC.
No par common

WOLOHAN LUMBER COMPANY
$1.00 par common
WOLVERINE ALUMINUM CORPORATION
$1.00 par common
WOODHEAD, DANIEL INC.
$1.00 par common

WOODWARD & LOTHROP INC.
$10.00 par common
WORCESTER BANCORP, INC.
$1.00 par common

•Addition to List




WORTHINGTON INDUSTRIES, INC.
No par common

XIDEX CORPORATION
$.35 par common

WRIGHT, WILLIAM E. COMPANY
$.50 par common

YELLOW FREIGHT SYSTEM, INC.
$1.00 par common

WYMAN-GORDON COMPANY
$1.00 par common

ZENITH NATIONAL INSURANCE CORPORATION
$1.00 par common
ZIEGLER COMPANY, INC., THE
$1.00 par common

XCOR INTERNATIONAL, INC.
Class A, $.50 par common

ZIONS UTAH BANCORPORATION
No par common
ZONDERVAN CORPORATION, THE
$1.00 par common

*XIC0R, INC.
No par common

-2 1 -

■

FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent o f the United States
Circular No. 9161
October 15, 1981

TREASURY TO AUCTION $4,750 MILLION OF 2-YEAR NOTES
To A ll Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

The following statement was issued by the Treasury Department:
The Department o f the Treasury will auction $4,750 million o f 2-year notes to refund $3,851 million of
notes maturing October 31, 1981, and to raise $899 million new cash. The $3,851 million o f maturing notes are
those held by the public, including $1,079 million currently held by Federal Reserve Banks as agents for foreign
and international monetary authorities.
In addition to the public holdings, Government accounts and Federal Reserve Banks, for their own
accounts, hold $606 m illion o f the maturing securities that may be refunded by issuing additional amounts o f the
new notes at the average price o f accepted competitive tenders. Additional amounts o f the new security may also
be issued at the average price to Federal Reserve Banks, as agents for foreign and international monetary
authorities, to the extent that the aggregate amount o f tenders for such accounts exceeds the aggregate amount
o f maturing securities held by them.

Printed on the reverse side is a table summarizing the highlights o f the offering. Copies o f the official
offering circular will be furnished upon request directed to our Government Bond Division (Tel. No.
212-791-6619).
Enclosed is a copy o f a standard form for your use in submitting tenders for this offering (or for any
subsequent offering o f 2-year notes).
This Bank will receive tenders up to 1:30 p.m ., Eastern Daylight Saving time, Wednesday, October 21,
1981, at the Securities Department o f its Head O ffice and at its Buffalo Branch. A ll com petitive tenders,
whether transmitted by mail or by other means, must reach this Bank or its Branch by that time. However,
for investors who wish to submit noncompetitive tenders and who find it more convenient to mail their
tenders than to present them in person, the official offering circular provides that noncom petitive tenders
will be considered timely received if they are mailed to this Bank or its Branch under a postmark no later
than O ctober 20.
Bidders submitting noncompetitive tenders should realize that it is possible that the average price may
be above par, in which case they would have to pay more than the face value for the securities.
Payment with a tender may be in the form o f a personal check, which need not be certified, an official
bank check, or a Federal funds check (a check drawn by a depository institution on its Federal Reserve
account). All checks must be drawn payable to the Federal Reserve Bank o f New York; checks endorsed to
this B a n k will n o t be accepted. Payment may also be made in cash or in Treasury securities maturing on or
before the issue date o f the securities being purchased.
Recorded messages provide information about Treasury offerings and about auction results: at the
Head Office — Tel. N o. 212-791-7773 (offerings) and Tel. N o. 212-791-5823 (results); at the Buffalo
Branch — Tel. N o. 716-849-5046. Additional inquiries regarding this offering may be made by calling, at
the Head O ffice, Tel. No. 212-791-6619, or, at the Buffalo Branch, Tel. No. 716-849-5016.




A n t h o n y m . So l o m o n ,

President.

(Over)

*

HIGHLIGHTS OF TREASURY
OFFERING TO THE PUBLIC
OF 2-YEAR NOTES
TO BE ISSUED NOVEMBER 2, 1981
(Delivery date f o r coupon securities is N ovem ber 13, 1981)

Amount Offered:
To the p u b lic ............................................................................................................. .. $4,750 million

Description of Security:
Term and type o f security......................................................................................... . 2-year notes
Series and CUSIP d esig n a tio n ................................................................................ , Series W -1983
(CUSIP N o. 912827 ML3)
Maturity d a te ................................................................................................................

October 31, 1983

Call d a t e .........................................................................................................................

N o provision

Interest coupon r a t e ..................................................................................................

To be determined, based on the
average o f accepted bids

Investment yield ...........................................................................................................

To be determined at auction

Premium or discount..................................................................................................

To be determined after auction

Interest payment d a t e s ..............................................................................................

April 30 and October 31

Minimum denom ination available..........................................................................

$5,000

Terms of Sale:
M ethod o f s a le .............................................................................................................

Yield auction

Accrued interest payable by investor.....................................................................

None

Preferred a llotm en t.....................................................................................................

Noncom petitive bid for
$1,000,000 or less

Payment by non-institutional in v e s to r s ..............................................................

Full payment to be submitted
with tender

Deposit guarantee by designated in stitu tion s.....................................................

Acceptable

Key Dates:
Deadline for receipt o f tenders................................................................................

W ednesday, October 21, 1981,
by 1:30 p.m ., EDST

Settlement date (final payment due from institutions)
a) cash or Federal fu n d s.......................................................................................

Monday, November 2, 1981

b) readily collectible ch eck ..................................................................................

Thursday, October 29, 1981

Delivery date for coupon secu rities.......................................................................

Friday, November 13,1981




IM PORTANT—This is a standard form. Its terms are subject to change at any time by the Treasury. This
tender will be construed as a bid to purchase the 2-year notes for which the Treasury has outstanding an
invitation for tenders.

PRI\ AC $ AC I S I ATFMFNT — 1 he individually identifiable information required on this lortn is necessary to permit the subscription to be processed and the securities to be issued. If registered securities
arc requested, the regulations governing United States securities (Department Circular No. 300) and the offering circular require submission of social security numbers; the numbers and other information are
used in inscribing the securities and establishing and servicing the ownership and interest records. The transaction will not be completed unless all required data is furnished.

TENDER FOR 2-YEAR TREASURY NOTES
T o F e d e r a l R e se r v e B a n k o f N ew Y ork
Fiscal Agent o f the United States
New York, N .Y . 10045

Dated at
, 19

Pursuant to the provisions o f the public notice issued by the Treasury Department inviting tenders for the
current offering o f 2-year Treasury notes, the undersigned hereby offers to purchase such currently offered
Treasury notes in the amount indicated below, and agrees to make payment therefor at your Bank in accordance
with the provisions o f the official offering circular.

COMPETITIVE TENDER

Do not fill in both Competitive and
Noncompetitive tenders on one form

$ ................................................................. (maturity value)
or any lesser amount that may be awarded.

NONCOMPETITIVE TENDER

$ .................................................................(maturity value)
(Not to exceed $1,000,000 fo r one bidder through all sources)

at the average price o f accepted competitive bids.

Y ield:....................
(Yield must be expressed with not more than two
decimal places, fo r example, 11.06)

Subject to allotm ent, please issue, deliver, and accept payment for the bearer securities indicated below and/or
the registered securities indicated on the reverse side (if only registered securities are desired, please only complete

schedule on reverse side):

SCHEDULE FOR ISSUE OF BEARER SECURITIES
Pieces

Denomination

Maturity value

XXX

xxxxxx

XXX XXX x x x

$

5,000

$

10,000

$

100,000

$

1, 000,000

□

Deliver over the counter to the
undersigned (1)
Ship to the undersigned (2)
Hold in safekeeping (for member
bank only) in —
□ Investment Account (4)
□ General Account (5)
□ Trust Account (6)
Hold as collateral for Treasury Tax and
Loan Account* (7)

Payment will be made as follows:
U] By charge to our reserve account (D)
j By cash or check in immediately
available fu n d s (F)
Q By surrender of maturing securities (E)
Q By charge to my correspondent
bank..................................................(D)
(Name of bank)
□ Special instructions (3)

□ Wire to
Totals

( 8)

(Exact Receiving Bank Wire Address/Account)

*The undersigned certifies that the allotted securities will be owned solely by the undersigned.
(If a commercial bank or dealer is subscribing for its own account or for account of customers, the following
certifications are made a part of this tender.)

WE HEREBY CERTIFY that we have received tenders from customers in the amounts set forth opposite their
names on the list which is made a part o f this tender and that we have received and are holding for the Treasury, or
that we guarantee payment to the Treasury o f, the payments required by the official offering circular.
WE FURTHER CERTIFY that tenders received by us, if any, from other commercial banks or primary dealers for
their own account, and for the account o f their customers, have been entered with us under the same conditions,
agreements, and certifications set forth in this form.

Insert this tender in
special envelope marked
“ Tender fo r Treasury
Notes or Bonds ”

(Institutions submitting tenders for customer account must list customers’ names on lines below or on an attached rider.)

(Name of customer)

(Name of customer)

INSTRUCTIONS:
1. No tender for less than $5,000 will be considered; and each tender must be for a multiple of $5,000 (maturity value).
2. Only banking institutions, and dealers who make primary markets in Government securities and report daily to this Bank their
positions with respect to Government securities and borrowings thereon, may submit tenders for customer account; in doing so, they may
consolidate competitive tenders at the same yield and may consolidate noncompetitive tenders, provided a list is attached showing the name
of each bidder and the amount bid for his or her account. Others will not be permitted to submit tenders except for their own account.
3. Tenders will be received without deposit from commercial and other banks for their own account, federally insured savings and loan
associations, States, political subdivisions or instrumentalities thereof, public pension and retirement and other public funds, international
organizations in which the United States holds membership, foreign central banks and foreign states, dealers who make primary markets in
Government securities and report daily to the Federal Reserve Bank of New York their positions with respect to Government securities and
borrowings thereon, and Government accounts. Tenders from others must be accompanied by full payment of the face amount of the
securities applied for.
4. Payment with a tender may be in the form of a personal check, which need not be certified, an official bank check, or a Federal funds
check (a check drawn by a commercial bank on its Federal Reserve account). All checks must be drawn payable to the Federal Reserve Bank
of New York; checks endorsed to this Bank will not be accepted. Payment may also be made in cash or Treasury securities maturing on or
before the issue date of the securities being purchased.
5. For information on currently available Treasury offerings, call our 24-hour recorded message at (212) 791-7773 at the Head Office or
(716) 849-5046 at the Buffalo Branch. For results of recent Treasury auctions, call (212) 791-5823 at the Head Office or (716) 849-5046 at the
Buffalo Branch. For other information about Treasury securities, call (212) 791-6619 at the Head Office or (716) 849-5016 at the Buffalo
Branch during normal business hours.
6. If the language of this tender is changed in any respect that, in the opinion of the Secretary of the Treasury, is material, the tender may
be disregarded.




(OVER)

SUBSCRIPTION NO

SCHEDULE FOR ISSUE OF REGISTERED TREASURY SECURITIES
DELIVERY INSTRUCTIONS

PAYMENT INSTRUCTIONS

S U B S C R IB E R ’S NAM E.

I- ]

DELIVER OVER THE COUNTER

□

ADDRESS

□

SHIP TO SUBSCRIBER

□

OTHER INSTRUCTIONS:

CITY

_________________

BY CHARGE TO OUR
RESERVE ACCOUNT
] ] BY CASH OR CHECK IN

.STAT E

ZIP

□

FRB

USE O N LY

TRANS. AC C O U N TIN G D ATE

I M M E D IA T E L Y A V A I L A B L E FUNDS

________________________

s i g n a t u r e

FOR

BY SURRENDER QF
MATURING SECURITIES

ISSUE AGENT 12

[“ ] BY CHARGE TO MY
CORRESPONDENT BANK

.

REG ISTR ATIO N

N O. O F
P IEC ES

INSTRUC TIO N S

NAME(S)

I D O R S. S. N O .

SER I A L
DENOM.

32

5,000

34

10,000

38

100,000

42

1,0 0 0, 00 0

99

TOTAL

AMOUNT

(LE A V E

110 -0 1

NOS.

BLANK)

FOR

FR B

USE

O N LY

ADDRESS

CITY

STATE

ZIP

N AME( S)

T R . C A S E NO.

32

5 ,0 0 0

34

10,000

38

100,000

42

1 ,0 0 0 , 0 0 0

99

TOTAL

I D O R S. S. N O .

ADDRESS

CITY

STATE

ZIP

N AME( S)

T R . C A S E NO.

32

5 ,0 0 0

34

10,000

38

100 ,0 0 0

42

1 ,0 0 0 , 0 0 0

99

TOTAL

I D O R S. S. N O .

ADDRESS

CITY




STATE

ZIP

L O A N CODE

T R . C A S E NO.

PRELIMINARY CIRCULAR
U N I T E D S TATES OF A M E R I C A
T R E A S U R Y N OT E S OF O C T O B E R 31, 1983
SERIES W -1983
DEPARTMENT CIRCULAR
P u b l i c Debt S e ries - No.

*
32-81

1.
1.

1.

the S e cond

D E P A R T M E N T OF THE T R E A S U R Y ,
O F F I C E OF THE SECRETARY,
W a s h i n g t o n , O c t o b e r 15, 1981.

INVITATION FOR TENDERS

The S e c r e t a r y of the T r e a s u r y , under the a u t h o r i t y of
L i b e r t y Bond A c t , as a m e n d e d ,

invites tenders for a p p r o x i ­

m a t e l y $ 4 , 7 5 0 , 0 0 0 , 0 0 0 of United States s e c u r i t i e s , d e s i g n a t e d T r e a s u r y
N o t es of O c t o b e r 31, 1983, Series W - 1 9 8 3

(CUSIP No. 912827 M L 3).

The s e c u r i t i e s will be sold at a u c t i o n , with bidding on the basis of
yield.

P a y m e n t will be r e q u i r e d at the price e q u i v a l e n t of the bid

yield of e a c h accep t e d

tender.

The i n t e r e s t rate on the s e c u r i t i e s

and the p r i c e e q u i v a l e n t of each a c cepted bid will be d e t e r m i n e d
the m a n n e r d e s c r i b e d b e l o w 1.

in

A d d i t i o n a l a m o unts of these s e c u r i t i e s

m a y be issued to G o v e r n m e n t a c c o u n t s and Fe d e r a l Reserve Banks for
t h e i r o w n a c c o u n t in e x c h a n g e for m a t u r i n g T r e a s u r y securities.
Additional

a m o u n t s of the n e w s e c u r i t i e s m a y also be issued at the

a v e r a g e p rice

to F e d e r a l R e s e r v e Banks , as agents for foreign and

i n t e r n a t i o n a l m o n e t a r y a u t h o r i t i e s , to the extent that the a g g regate
a m o u n t of t e n d e r s for such ac c o u n t s e x c e e d s the agg r e g a t e amount of
maturing

s e c u r i t i e s held b y them.
2.

2.

1.

D E S C R I P T I O N OF S E C U R I T I E S

The s e c u r i t i e s will be dated N o v e m b e r 2, 1981, and will

b e a r i n t e r e s t from that d a t e , p a y a b l e on a se m i a n n u a l basis on April 30,
1982, and e a c h s u b s e q u e n t
principal becomes payable.
not be s u b j e c t to call

6 m o n t h s on O c t o b e r 31 and April

30 until the

T h e y will m a t u r e O c t o b e r 31, 1983, and will

for r e d e m p t i o n p r i o r to maturity.

In the event

an i n t e r e s t p a y m e n t date or the m a t u r i t y d ate is a S a t u r d a y , Su n d a y , or
o t h e r n o n b u s i n e s s d a y , the in t e r e s t or p r i n c i p a l

is p a y a b l e on the next-

s u c c e e d i n g b u s i n e s s day.
2.
t a xes

2.

imposed

The income d e r i v e d

from the s e c u r i t i e s
*-

is subject to all

under the Inter n a l Re v e n u e Code of 1954.

ties are s u b j e c t

The s e c u r i ­

to e s t a t e , i n h e r i t a n c e , g i f t , or o t h e r excise taxes,

w h e t h e r F e d e r a l o r S t a t e , but are e x e m p t from all t axation n o w or
hereafter

impo s e d on the p r i n c i p a l or i n t e r e s t thereof b y any State,

a n y p o s s e s s i o n of the Unit e d S t a t e s , or a n y local taxing authority.



3.

2.

The s e c u r i t i e s will be a c c e p t a b l e to secure d e p o s i t s of

public monies.
2.

4.

T h e y will not be a c c e p t a b l e

in pa y m e n t of taxes.

B e a r e r s e c u r i t i e s with interest c o u p o n s att a c h e d , and

securities registered

as to p r i n c i p a l and int e r e s t , will be issued

in d e n o m i n a t i o n s of $ 5 , 0 0 0 , $ 1 0 , 0 0 0 , $ 1 0 0 , 0 0 0 , and $1,000,000.
entry securities

will be a v a i l a b l e to e l i g i b l e b i d ders in m u l t i p l e s

of t h ose amounts.
tions

Book-

I n t e r c h a n g e s of se c u r i t i e s of d i f f e r e n t d e n o m i n a ­

and of c o u p o n , r e g i s t e r e d , and b o o k - e n t r y s e c u r i t i e s , and the

t r a n s f e r of r e g i s t e r e d
2.

5.

governing

s e c u r i t i e s will be p e rmitted.

The D e p a r t m e n t of the T r e a s u r y ' s g e n eral r e g u l a t i o n s

United S t a t e s s e c u r i t i e s a p p l y to the secur i t i e s offered

in t his circ u l a r .
in e f f e c t ,

These g e n e r a l r e g u l a t i o n s

as well as those that m a y be issued at a later date.
3.

3.

include those c u r r e n t l y

1.

SALE P R O C E D U R E S

T e n ders will be rec e i v e d at F e d eral Reserve Banks and

B r a n c h e s and at the B u r e a u of the Public Debt, W a s h i n g t o n , D. C. 20226,
up to 1:30 p . m . , E a s tern D a y l i g h t Saving time, W e d n e s d a y , O c t o b e r 21,
1981.

N o n c o m p e t i t i v e t e n d e r s as d e f i n e d b e l o w will be c o n s i d e r e d

t i m e l y if p o s t m a r k e d no l a t e r than T u e s d a y , O c t o b e r 20, 1981.
3.
for.

2.

Each t e nder m u s t state the face amount of s e c u r i t i e s bid

The m i n i m u m bid

of that amount.
expressed
Common

is $ 5 , 0 0 0 , and la r g e r bids m u s t be in m u l t i p l e s

C o m p e t i t i v e t e n d e r s m u s t also s h o w the yield d e s i r e d ,

in terms of an annual

f r a c t i o n s m a y not be used.

the t e r m " n o n c o m p e t i t i v e "
yield.

N o n c o m p e t i t i v e tenders m u s t s h o w

on the t ender form in lieu of a spe c i f i e d

No b i d d e r m a y s u b m i t m o r e than one n o n c o m p e t i t i v e tender, and

the a m o u n t m a y not e x c e e d
3.

yield with two d e c i m a l s , e.g., 7.11%.

3.

$1,000 , 0 0 0 .

C o m m e r c i a l b a n k s , which for this p u r p o s e are d e f i n e d

as

b a n k s a c c e p t i n g d e m a n d d e p o s i t s , and p r i m a r y d e a l e r s , which for this
p u r p o s e are d e f i n e d as d e a l e r s
securities

and r e port d a i l y to the Federal Reserve B ank of N e w Y o r k

the i r p o s i t i o n s
tenders
amount

who m ake p r i m a r y m a r k e t s in G o v e r n m e n t

in and b o r r o w i n g s on such s e c u r i t i e s , m a y submit

for a c c o u n t o f c u s t o m e r s

if the names of the c u s t o m e r s and the

for each c u s t o m e r are furnished.

Ot h e r s are o n l y p e r m i t t e d

to

s u b m i t t e n d e r s for t h eir o w n account.
3.
account

4.

T e n ders will be rec e i v e d w i t hout d e p o s i t for their o w n

from c o m m e r c i a l b a n k s and o t h e r b a n king

d e a l e r s , as d e f i n e d above;
tions;

primary

F e d e r a l l y - i n s u r e d s a v i n g s and loan a s s o c i a ­

S t a t e s , and t h eir p o l i t i c a l




insti t u t i o n s;

s u b d i v i s i o n s or i n s t r u m e n t a l i t i e s *

I*»v>

„ , .. .

.v

vnocv.y ia*s^ *Virta6rf^.
3.

public

pension

and r e t i r e m e n t and o t h e r p ublic funds;

i n t e r national

organizations

in which the Unit e d S tates holds m e m b ership;

central

and fore i g n states;

ment

banks

accounts.

and G o v e r n ­

T e n d e r s from o t h e r s m ust be a c c o mpanied b y full p a y ­

ment- for the a m o u n t of s e c u r i t i e s
maturing

Federal Reserve Banks;

foreign

applied

for

(in the form of cash,

T r e a s u r y s e c u r i t i e s , or r e a d i l y c o l l e c t i b l e c hecks), or b y

a p a y m e n t g u a r a n t e e of 5 p e r c e n t of the face amount applied for,
from a c o m m e r c i a l b a n k or a p r i m a r y dealer.
3.

5.

I m m e d i a t e l y after the closing hour, tenders will be

o p e n e d , f o l l o w e d b y a p u b l i c a n n o u n c e m e n t of the amount and yield range
of a c c e p t e d bids.

S u b j e c t to the r e s e r v a t i o n s e x p ressed in S e c t i o n 4,

n o n c o m p e t i t i v e t e n d e r s will be a c c e p t e d
t e n d e r s will be a c c e p t e d , s tart i n g

in full , and then c o m p e t it i v e

with those at the lowest yields ,

t h r o u g h s u c c e s s i v e l y h i g h e r yie l d s to the ex t e n t required to attain
the a m o u n t o f f e r e d .
prorated

T e n d e r s at the h i g h e s t accepted yield will be

if n e c e s s a r y .

A f t e r the d e t e r m i n a t i o n is made as to which

t e n d e r s are a c c e p t e d , a c o u p o n rate will be e s t a b l i s h e d , on the basis
of a 1/8 of one p e r c e n t i n c r e m e n t , whi c h r e s ults in an e q u i v a l e n t
average

a c c e p t e d p r i c e c l ose to 1 0 0 . 0 0 0 and a lowest accepted price

abo v e the o r i g i n a l

issue d i s c o u n t limit of 99.750.

i n t e r e s t will be paid on all of the securities.

That rate of

Based on such

i n t e r e s t rate , the p r i c e on e ac h c o m p e t i t i v e tender allotted will be
determined

and each s u c c e s s f u l c o m p e t i t i v e b i dder will be required to

p a y the p r i c e e q u i v a l e n t to the yield bid.

Those s u bmitting n o n ­

c o m p e t i t i v e t e n d e r s will p a y the p r ice e q u i v a l e n t to the weighted
average

yield o f a c c e p t e d c o m p e t i t i v e tenders.

Price c a l c u l a t i o n s

will be c a r r i e d to t hree d e c i m a l p l a c e s on the basis of price per
h u n d r e d , e . g . , 9 9 . 9 2 3 , and the d e t e r m i n a t i o n s of the S e c r e t a r y of
the T r e a s u r y shall be final.
received

w ould a b s o r b all or m o s t of the o f f e r i n g , c o m p e t i t i v e tenders

will be a c c e p t e d

in an a m ount s u f f i c i e n t to p r o vide a fair d e t e r m i n a ­

tion o f the yield.
Federal

If the a m ount of n o n c o m p e t i t i v e tenders

Tenders received

from G o v e r n m e n t accounts and

R e s e r v e B a n k s will be a c c e p t e d at the price e q u i v a l e n t to

the w e i g h t e d
3.

6.

average

yield of a c c e p t e d c o m p e t i t i v e tenders.

C o m p e t i t i v e b i d d e r s will be advised of the ac c e p t a n ce or

r e j e c t i o n of t h e i r t enders.
will o n l y be n o t i f i e d
the p r i c e

is o v e r par.




T h o s e s u b m i t t i n g n o n c o m p e t i t i v e tenders

if the t e n d e r is not accepted in full, or when

4.
4.
4.
rig h t

1.

RESERVATIONS -

The S e c r e t a r y of the T r e a s u r y e x p r e s s l y rese r v e s

the

to a c c e p t or r e ject any or all tenders in whole or in p a r t ,

to a l lot m o r e or less than the a m o u n t of s e c u r i t i e s s p e c ified

in

S e c t i o n 1 , and to m ake d i f f e r e n t p e r c e n t a g e al l o t m e n t s to v a r i o u s
c l a s s e s of a p p l i c a n t s when the S e c r e t a r y c o n s i d e r s it in the p u b l i c
interest.

The S e c r e t a r y ' s action under this Section is final.
5.

5.

1.

PAYMENT AND DELIVERY

S e t t l e m e n t for all o t t e d s e c u r i t i e s m u s t be m ade at the

F e d e r al R e s e r v e B ank or B r anch or at the B u r e a u of the Public Debt ,
w h e r e v e r the tender was submitte d .
to i n s t i t u t i o n a l

S e t t l e m e n t on s e c u r i t i e s allo t t e d

i n v e s t o r s and to o t h e r s whose tenders are a c c o m ­

pa n i e d b y a p a y m e n t g u a r a n t e e as p r o v i d e d

in Section 3.4., m u s t be

m a d e or c o m p l e t e d on or b e f o r e M o n d a y , N o v e m b e r 2, 1981.
in full m u s t

a c c o m p a n y t e n d e r s s u b m itted b y all o t h e r investors.

P a y m e n t m u s t be in cash;
the T r e a s u r y ;
det a c hed)

Payment

in o t h e r funds i m m e d i a t e l y ava i l a b l e to

in T r e a s u r y b i l l s , n o t e s , or bonds

(with all c o u p o n s

m a t u r i n g on or b e f o r e the s e t t l e m e n t date but which are not

o v e r d u e as d e f i n e d

in the g e n e r a l r e g u l a t i o n s g o v e r n i n g United S tates

s e c u r i t i e s ; or b y c h e c k d r a w n to the o r d e r of the i n s t i t u t i o n to which
the t e n d e r was s u b m i t t e d , which m u s t be received

from i n s t i t u t i o n a l

i n v e s t o r s no later than T h u r s d a y , O c t o b e r 29, 1981.
has b e e n s u b m i t t e d
securities

When payment

with the ten d e r and the p u r c h a s e price of all o t t e d

is o v e r par, s e t t l e m e n t for the p r e m i u m m u s t be c o m p l e t e d

ti m e ly, as speci f i e d

in the p r e c e d i n g sentence.

W h e n p a y m e n t has

been s u b m i t t e d with the t e n d e r and the p u r c h a s e price is under par,
the d i s c o u n t will be r e m i t t e d to the bidder.

P a y ment will not be

c o n s i d e r e d c o m p l e t e where r e g i s t e r e d s e c u r i t i e s are r e q u e s t e d
appropriate

if the

iden t i f y i n g n u m b e r as req u i r e d on tax r e t urns and o t h e r

d o c u m e n t s s u b m i t t e d to the Internal Reve n u e S e r vice

(an i n d i v i d u a l ’s

social s e c u r i t y n u m b e r or an e m p l o y e r i d e n t i f i c a t i o n number)
not f u r n i s h e d .

is

W h e n p a y m e n t is m a d e in s e c u r i t i e s , a cash a d j u s t ­

m e n t will be made to or r e q u i r e d of the b i d d e r for any d i f f e r e n c e
b e t w e e n the face a m o u n t o f s e c u r i t i e s presented*-and the a mount
p a y a b l e on the s e c u r i t i e s allotted.




< W 'A rW

V iV ^ .- V

^ A V . 'A 's ' . W .

-rt

.•

XS&S&rt&gevsmsmr&t

s>\x>* ’oi

5.
5.

2.

In e v e r y case

where full p a y m e n t has not been completed

on time , an amount of up to 5 p e r c e n t of the face amount of s e c u r i t i e s
allotted,

shall, at the d i s c r e t i o n of the S e c r e t a r y of the T r e a s u r y ,

be f o r f e i t e d
5.

to the United States.

3.

securities

Registered

s e c u r i t i e s tend e r e d

are not r e q u i r e d to be a ssigned

to be r e g i s t e r e d

in payment for allotted
if the n e w secur i t i e s are

in the same nam e s and forms as appear in the r e g i s ­

t r a t i o n s or a s s i g n m e n t s of the s e c u r i t i e s surrendered.
securities

are to be r e g i s t e r e d

When the n e w

in names and forms dif f e r e n t from

those in the i n s c r i p t i o n s or a s s i g n m e n t s of the s e curities p r e s e n t e d ,
the a s s i g n m e n t should be to "The S e c r e t a r y of the T r e a s u r y for
r i t i e s o f f e r e d b y this circular)
i d e n t i f y i n g numb e r ) . "

in the name of

(secu­

(name and taxp a y e r

If n e w s e c u r i t i e s in co u p o n form are d e s i r e d ,

the a s s i g n m e n t should be to "The S e c r e t a r y of the T r e a s u r y for co u p o n
( s e c u r i t i e s o f f e r e d b y this cir c ular)
address)."

to be del i v e r e d to (name and

S p e c i f i c i n s t r u c t i o n s for the issuance and d e l i v e r y of the

n e w s e c u r i t i e s , signed b y the o w n e r or a u t h o r i z e d r e p r e s e n t a t i v e , m u s t
a c c o m p a n y the s e c u r i t i e s p r e s e n t e d .
s h o u l d be s u r r e n d e r e d

Se c u r i t i e s tendered

to the Fe d eral R e s erve B a n k or Branch or to the

B u r e a u of the P u b l i c D ebt, W a s h i n g t o n , D. C. 20226.
m u s t be d e l i v e r e d
5.

4.

in p a y m e n t

The se c u r i t i e s

at the e x p e n s e and r i s k of the holder.

If b e a r e r s e c u r i t i e s are not r e a d y for d e l i v e r y on the

s e t t l e m e n t d a t e , p u r c h a s e r s m a y e l e c t to r e c eive interim c e r t i f i c a t e s.
T h e s e c e r t i f i c a t e s shall be issued in b e a r e r form and shall be
exchangeable
rities

for d e f i n i t i v e s e c u r i t i e s of this issue, when such s e c u ­

are a v a i l a b l e , at a n y F e d e r a l R e s erve B a n k or Branch or at

the B u r e a u of the P u b l i c D ebt, W a s h i n g t o n , D. C. 20226.

The i n t e r i m

c e r t i f i c a t e s m u s t be r e t u r n e d at the r i s k and expense of the holder.
5.
made

5.

D e l i v e r y of s e c u r i t i e s

a f t e r the r e q u e s t e d

the r e g i s t e r e d

form will be

form of r e g i s t r a t i o n has been v a l i d a t e d ,

i n t e r e s t a c c o u n t has been e s t a b l i s h e d , and the

s e c u r i t i e s have been inscribed.




in r e g i s t e r e d

■b b b h h h h k h h d h h h i

6.

6.
6.

1.

GENERAL PROVISIONS

As fiscal agents of the United Stat e s , Federal Reserve

B a n k s are a u t h o r i z e d and r e q u e s t e d

to r e c e i v e tend e r s , to m ake allot/

m e n t s as d i r e c t e d b y the S e c r e t a r y of the T r e a s u r y , to issue such
notices

as m a y be n e c e s s a r y , to r e c e i v e p a y m e n t for and m ake d e l i v e r y

of s e c u r i t i e s on f u ll-paid a l l o t m e n t s , and to issue interim c e r t i f i ­
c a t e s p e n d i n g d e l i v e r y of the d e f i n i t i v e securities.
6.

2.

The S e c r e t a r y of the T r e a s u r y m a y at any time issue

s u p p l e m e n t a l or a m e n d a t o r y rules and r e g u l a t i o n s g o v e r n i n g the o f f e r ­
ing.

P u b l i c a n n o u n c e m e n t of such c h a n g e s will be p r o m p t l y provided.




Paul H. Taylor,
F iscal A s s i s t a n t Secretary.