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INVESTMENT BANKERS ASSOCIATION OF AMERICA BOARD OF GOVERNORS PRESIDENT B. Edward Aldbn Chicago Hall Harris, Hall & Company EXECUTIVE VICE PRESIDENT H. Little Chicago 33 South Clark Street VICE PRESIDENTS New York Earle Bailie J. & W. Seligman & Co. Rudolph J. Eichler Bateman, Eichler & Co. Los Angeles Boston Jackson & Curtis G. Rives, Jr. New Orleans Whitney National Bank of New Orleans Cloud Wampler Chicago Lawrence Stern and Company Incorporated James J. Minot, Jr. Claude TREASURER D. T. Richardson Kelley, Richardson & Co., Inc. Chicago GOVERNORS W. New York Kuhn, Loeb & Co. E. Hall New York Morgan Stanley & Co. Incorporated George N. Lindsay New York Speyer & Co. George Bovenizbr Perrt GOVERNORS GOVERNORS S. Linen New York Chase National Bank of the City of New York Allan M. Pope New York The First Boston Corporation Hearn W. Streat New York Bancamerica-Blair Corporation Sidney J. Weinberg New York Goldman, Sachs & Co. T. Weller Kimball Chicago Glore, Forgan & Co. Francis F. Patton Chicago A. G. Becker & Co. Charles S. Cheston Philadelphia Edward B. Smith & Co. Devereux C. Josephs Philadelphia Graham, Parsons & Co. Emmett F. Connely Detroit First of Michigan Corporation Albert E. Van Court Los Angeles William R. Staats Co. William R. Daley Cleveland Otis & Co. William H. Burg St. Louis Smith, Moore & Co. Louis J. Nicolaus St. Louis Stifel, Nicolaus & Co., Inc. Claude W. Wilhide Baltimore Baker, Watts & Co. Francis E. Frothingham Boston Coffin & Burr, Inc. Orrin G. Wood Boston Estabrook & Co. Pittsburgh First National Bank at Pittsburgh San Francisco Mitchum, Tully & Co. Jean C. Witter San Francsico Dean Witter & Co. Charles E. Abbs Toronto A. E. Ames & Co., Limited Yelverton E. Booker Washington Y. E. Booker & Co. James M. Hutton, Jr. Cincinnati W. E. Hutton & Company John A. Prescott Kansas City Prescott, Wright, Snider Company Ben B. Ehrlichman Seattle Drumheller, Ehrlichman & White Thomas W. Gregory, Jr. Houston Gregory-Eddleman Company E. Warren Willard Denver Boettcher and Company, Inc. Harold E. Wood St. Paul Harold E. Wood & Company George S. Stevenson Hartford Stevenson, Gregory & Co. William M. Marshall Spokane Spokane and Eastern Branch of Seattle—First National Bank John J. Howard Arthur Colis Mitchum SECRETARY Robert Stevenson, 3rd Chicago 33 South Clark Street APPOINTED OFFICERS AND COUNSEL FIELD SECRETARY G. Chicago 33 South Clark Street MUNICIPAL SECRETARY Dudley C. Smith Chicago 33 South Clark Street EDUCATIONAL DIRECTOR David Dillman Chicago 33 South Clark Street Arthur Davis ASSISTANT SECRETARIES Mary R. Lincoln Chicago Emily L. Black Chicago 33 South Clark Street 33 South Clark Street S. COMMITTEE COUNSEL Washington 1010 Vermont Avenue V. Keyser OFFICIAL REPORTER OFFICE COUNSEL Thbodore Paul Chicago Chapman 111 West Monroe Street J. George Chicago Drobnis 69 West Washington Street GROUP CHAIRMEN CALIFORNIA Spencer Brush Brush, Slocumb & Co. San Francisco CANADA H. N. Bawden Toronto Dominion Securities Corporation Limited Marcus MISSISSIPPI VALLEY I. A. Long St. Louis Mercantile-Commerce Bank and Trust Company NEW ENGLAND Harcourt Amory Edward B. Smith & Co. CENTRAL STATES L. Baxter Chicago Nichols, Terry & Dickinson, Inc. Irving EASTERN PENNSYLVANIA Philadelphia Drexel & Co. R. Edward Hopkinson, Jr. D. NEW YORK Fish Edward B. Smith & Co. Mitchell, Herrick & Co. C. Lehman G. Andrews T. B. Johnson, Jr. Breed & Harrison, Inc. MINNESOTA Rollin Wells-Dickey Co. John Redwood, Jr. Baker, Watts & Co. Minneapolis Harry Denver Baltimore SOUTHERN New York J. Fleming Settle J. H. Hilsman & Co., Inc. Cleveland James Cincinnati Elmer PACIFIC NORTHWEST J. Markey Seattle Pacific National Bank of Seattle Atlanta SOUTHWESTERN G. Callaway Kansas City Prescott, Wright, Snider Company OHIO VALLEY Detroit John C. Grier & Co., Inc. ROCKY MOUNTAIN A. Adams Engle, Adams & Company SOUTHEASTERN Boston NORTHERN OHIO Verne Mitchell MICHIGAN Robert Frederic A. TEXAS Dittmar San Antonio Mahan, Dittmar & Company WESTERN PENNSYLVANIA O. Dorbritz Pittsburgh Moore, Leonard & Lynch Ernest NATIONAL COMMITTEE CHAIRMEN BUSINESS CONDUCT Rudolph J. Eichler Bateman, Eichler & Co. Los Angeles GOVERNMENT AND FARM LOAN BONDS G. Rouse New York Guaranty Trust Company of New York Robert BUSINESS PROBLEMS Earle Bailie J. & W. Seligman & Co. J. New York COMMERCIAL CREDITS New York Goldman, Sachs & Co. C. Karl INDUSTRIAL SECURITIES Weisheit New York Edward B. Smith & Co. Colis INVESTMENT COMPANIES Mitchum San Francisco Mitchum, Tully & Co. Norrish Thorne CONSTITUTION AND BY-LAWS E. Warren Willard Denver Boettcher and Company, Inc. EDUCATION Francis F. Patton A. G. Becker & Co. Chicago Jackson & Curtis FINANCE D. T. Richardson Kelley, Richardson & Co., Inc. Frederick Chicago FOREIGN SECURITIES M. Warburg New York Kuhn, Loeb & Co. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Chicago Lawrence Stern and Company Incorporated Cloud Wampler Boston MUNICIPAL SECURITIES S. Linen New York Chase National Bank of the City of New York REAL ESTATE SECURITIES Drumheller, Ehrlichman & White PUBLIC SERVICE SECURITIES E. Frothingham Boston Coffin & Burr, Inc. 1647 Seattle STATE AND LOCAL TAXATION E. Wood St. Paul Harold E. Wood & Company Harold STATE LEGISLATION T. Weller Kimball John Glore, Forgan & Co. O. TRADING Stubbs Whiting, Weeks & Knowles, Inc. WASHINGTON Orrin G. Wood► Estabrook & Co. Chicago Boston Boston SUBCOMMITTEES DISTRIBUTION John Francis RAILROAD SECURITIES R. Dick New York Dick & Merle-Smith Ben B. Ehrlichman Witter MEMBERSHIP FEDERAL TAXATION James J. Minot, Jr. GROUP CHAIRMEN'S San Francisco Dean Witter & Co. Jean Fairman New York Starkweather & Co. SALESMEN’S COMPENSATION H. Vaughan Clarke Philadelphia H. Vaughan Clarke & Company John K. Starkweather MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA 1648 ALABAMA Southern Group BIRMINGHAM *Courts & Co., Woodward Bldg. ♦Equitable Securities Corp., Webb-Crawford Bldg. ♦King, Mohr & Co., Inc., Webb-Crawford Bldg. ♦Milhous, Gaines & Mayes, Webb Crawford Bldg. Watkins, Morrow & Co., Inc., Woodward Bldg. MOBILE ♦King, Mohr & Co., Inc., Merchants National Bank Bldg. MONTGOMERY King, Mohr & Co., Inc., First National Bank Bldg. ARIZONA Rocky Mountain Group PHOENIX Hanchett Bond and Investment Co., Security Bldg. Refsnes, Ely, Beck & Co., 112 W. Adams St. ARKANSAS Mississippi Valley Group LITTLE ROCK Walton, Sullivan & Co., 404 Louisiana St. CALIFORNIA California Group BERKELEY ♦Cavalier & Co., Wm„ American Trust Bldg. BEVERLY HILLS ♦Batson, Barnes & Lester, 2470SantaMonica Blvd. ♦Gregory & Co., R. N., California Bank Bldg. ♦Griffith-Wagenseller & Durst, Bank of America Bldg. ♦Witter & Co., Dean, 9474 Santa Monica Blvd. DEL MONTE ♦Schwabacher & Co., Hotel Del Monte EUREKA ♦Blyth & Co., Inc., 330 “E” St. FRESNO ♦Witter & Co., Dean, Patterson Bldg. HOLLYWOOD ♦Battson, Barnes & Lester, 6253 Hollywood Blvd. ♦Bennett, Richards & Hill, Taft Bldg. LONG BEACH ♦Banks, Huntley & Company, Security Bldg. ♦Bennett, Richards & Hill, Farmers & Merchants Bank Bldg. ♦Crowell, Weedon & Co., Farmers & Merchants Bank Bldg. ♦Douglass & Co., Nelson, Farmers & Merchants Bank Bldg. ♦Edgerton, Riley & Walter, 132 Pine Ave. ♦Griffith-Wagenseller & Durst, Security Bldg. ♦Harris & Co., F. E., Heartwell Bldg. ♦Mitchum, Tully & Co., Hartwell Bldg. ♦Pacific Company of California, Security Bldg. ♦Witter & Co., Dean, 133 E. First St. LOS ANGELES ♦Anglo California National Bank of San Francisco, The, 215 W. Sixth St. ♦Baker & Co., H. R„ 650 S. Grand Ave. ♦Bankamerica Company, 650 S. Spring St. Banks, Huntley & Company, 634 S. Spring St. Bateman, Eichler & Co., 453 S. Spring St. Battson, Barnes & Lester, 621 S. Spring St. Bayly Brothers, Inc. of California, Roosevelt Bldg. Bennett, Richards & Hill, 621 S. Spring St. ♦Blyth & Co., Inc., 215 W. Sixth St. Boothe, Gillette & Co., 634 So. Spring St. Brashears & Company, G„ 510 S. Spring St. ♦Brown Harriman & Co., Inc., 523 W. Sixth St. ♦Bullock, Calvin, 634 S. Spring St. California Bank, 629 S. Spring St. Cass Associates, Quincy, 530 W. Sixth St. ♦Cavalier & Co., Wm„ 523 W. Sixth St. Cavanaugh, Morgan & Co., 634 S. Spring St. Citizens National Trust & Savings Bank, 457 S. Spring St. ♦Conrad, Bruce & Co., 634 S. Spring St. Crowell, Weedon & Co., 650 S. Spring St. Douglass & Co., Nelson, 210 W. Seventh St. Dulin & Co., 629 S. Spring St. Edgerton, Riley & Walter, 621 S. Spring St. ♦First Boston Corporation, The, 215 W. Sixth St. Gregory & Co., R. N., 210 W. Seventh St. Griffith-Wagenseller & Durst, 626 S. Spring St. Harris & Co., F. E„ 650 S. Spring St. Hill Reed & Co., 621 S. Spring St. ♦Hogle & Co., J. A., 532 W. Sixth St. ♦Learoyd & Nightingale, Inc., 621 S. Spring St. Lewis & Company, M. H., 453 S. Spring St. Luxford & Co., 530 W. Sixth St. ♦Mackubin, Legg & Co., 515 W. 6th St. Martin & Company, James R., 647 S. Spring St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ♦Massachusetts Distributors, Inc., 621 S. Spring St. Miller & Co., Revel, 650 S. Spring St. ♦Mitchum, Tully & Co., 650 S. Spring St. Moulton & Company, R. H., 510 S. Spring St. Pacific Company of California, 623 S. Hope St. Page, Hubbard & Asche, 210 W. Seventh St. Rath Company, Howard G., 523 W. Sixth St. ♦Robinson & Co., B. B., 639 S. Spring St. ♦Rogers & Company, Inc., Hartley, 210 W. Seventh St. ♦Rollins & Sons, Inc., E. H., California Bank Bldg. ♦Schwabacher & Co., 643 S. Spring St. Security-First National Bank of Los Angeles, 561 S. Spring St. ♦Smith & Co., Edward B., 650 S. Spring St. Staats Co., William R., 640 S. Spring St. Stern, Frank & Meyer, Union Bank Bldg. Union Bank & Trust Co., 760 S. Hill St. ♦Weeden & Co., 650 S. Spring St. ♦Witter & Co., Dean, 632-634 S. Spring St. OAKLAND ♦American Trust Company, 14th St. & Broadway ♦Baker & Co., H. R., Central Bank Bldg. ♦Bennett, Richards & Hill, Bank of America Bldg. ♦Blyth & Co., Inc., Central Bank Bldg. ♦Brush, Slocumb & Co., 1212 Broadway ♦Cavalier & Co., Wm„ 417 Fourteenth St. ♦Schwabacher & Co., Central Bank Bldg. ♦Witter & Co., Dean. 409 Fourteenth St. ♦Wulff, Hansen & Co., Central Bank Bldg. ONTARIO ♦Lewis & Company, M. H., 112 West C St. PASADENA ♦Bateman, Eichler & Co., 42 N. Garfield Ave. ♦Bennett Richards & Hill, Citizens Savings Bldg. ♦Blyth & Co., Inc., 14 N. Marengo Ave. ♦Brashears & Company, G., 595 Colorado Ave. ♦Douglass & Co., Nelson, 341 E. Green St. ♦Dulin & Co., 387 E. Green St. ♦Gregory & Co., R. N., 379 E. Green St. ♦Griffith-Wagenseller & Durst, First Trust Bldg. ♦Martin & Company, James R., 53 S. Euclid Ave. Miller & Co., Inc., Geo. R., 81 S. Euclid Ave. Pasadena Corporation, 117 E. Colorado St. ♦Rollins & Sons, Inc., E. H., 385 E. Green St. ♦Staats Co., William R., 311 E. Colorado St. RIVERSIDE ♦Battson, Barnes & Lester, Citizens National Bldg. ♦Pacific Company of California, 3695 Market St. SACRAMENTO ♦Baker & Co., H. R., California State Life Bldg. ♦Blyth & Co., Inc., California State Life Bldg. ♦Cavalier & Co, Wm„ 1111 Ninth St. ♦Conrad, Bruce & Co., Capital National Bank Bldg. ♦Mitchum, Tully & Co., California Western States Life Bldg. ♦Witter & Co., Dean, 1014 Eighth St. ♦Wulff, Hansen & Co., Forum Bldg. SAN BERNARDINO ♦Crowell, Weedon & Co., Andreson Bldg. ♦Martin & Company, Jas. R., Andreson Bldg. SAN DIEGO ♦Baker & Co., H. R„ Bank of America Bldg. ♦Bankamerica Company, 625 Broadway ♦Banks, Huntley & Company, San Diego Trust & Savings Bldg. ♦Bennett Richards & Hill, Bank of America Bldg. ♦Brashears & Company, G., 530 Broadway ♦Dulin & Co., First National Bldg. ♦Edgerton, Riley & Walter, 530 Broadway ♦Griffith-Wagenseller & Durst, First National Bldg. ♦Luxford & Co., San Diego Trust & Savings Bldg. ♦Martin & Company, James R., 530 Broadway ♦Pacific Company of California, San Diego Trust & Savings Bldg. ♦Rollins & Sons, Inc., E. H„ Bank of America Bldg. SAN FRANCISCO ♦Allyn and Company, Inc., A. C., Russ Bldg. American Trust Company, 464 California St. Anglo California National Bank of San Francisco, The, 1 Sansome St. Baker & Co., H. R., Russ Bldg. Bankamerica Company, 485 California St. ♦Bennett Richards & Hill, 79 Post St. Blyth & Co., Inc., Russ Bldg. ♦Bond & Goodwin, Inc., Russ Bldg. ♦Brown Harriman & Co., Inc., 155 Montgomery St. Brush, Slocumb & Co., Ill Sutter St. Cavalier & Co., Wm„ 121 Sutter St. ♦Childs and Company, Inc., C. F., 235 Mont gomery St. Conrad, Bruce & Co., Russ Bldg. Crocker First National Bank, 1 Montgomery St. Davis, Skaggs & Co., 211 Montgomery St. ♦Devine & Co., Inc., C. J., Russ Bldg. ♦Drumheller, Ehrlichman & White, 155 Mont gomery St. Eastland & Co., 1 Montgomery St. Elworthy & Co., Ill Sutter St. ♦First Boston Corporation, The, Russ Bldg. Heller, Bruce & Co., Mills Tower ♦Lewis & Company, M. H„ 315 Montgomery St. ♦Lobdell & Company, 206 Sansome St. ♦McDonnell & Co., 633 Market St. ♦BRANCH OFFICE ♦Miller & Co., Revel, 315 Montgomery St. Mitchum, Tully & Co., 405 Montgomery St. ♦Moulton & Company, R. H., 405 Montgomery St. ♦Pressprich & Co., Mills Tower ♦Rogers & Company, Inc., Hartley, Russ Bldg. ♦Rollins & Sons, Inc., E. H., 235 Montgomery St. ♦Salomon Bros. & Hutzler, Russ Bldg. Schwabacher & Co., 600 Market St. ♦Smith & Co., Edward B., Ill Sutter St. ♦Staats Co., William R„ 155 Montgomery St. Stone & Youngberg, 405 Montgomery St. Weeden & Co., 315 Montgomery St. Wells Fargo Bank & Union Trust Co., 4 Mont gomery St. Witter & Co., Dean, 45 Montgomery St. ♦Wood, Struthers & Co., Russ Bldg. Wulff, Hansen & Co., Russ Bldg. SAN JOSE ♦Baker & Co., H. R., First National Bank Bldg. ♦Bennett Richards & Hill, First National Bank Bldg. SANTA ANA ♦Boothe, Gillette & Co., First National Bank Bldg. ♦Cavalier & Co., Wm„ 516 N. Main St. ♦Griffith-Wagenseller & Durst, First National Bank Bldg. ♦Miller & Co., Revel, First National Bank Bldg. SANTA BARBARA ♦Luxford & Co., 4 E. Carrillo St. ♦Schwabacher & Co., 930 State St. SANTA MONICA ♦Griffith-Wagenseller & Durst, 220 Santa Monica Blvd. STOCKTON ♦Witter & Co., Dean, 18 S. Sutter St. VENTURA ♦Luxford & Co., 433 E. Main St. WESTWOOD ♦Witter & Co., Dean, 1077 Boxton Ave. COLORADO Rocky Mountain Group BOULDER ♦Scanlan & Co., Earl M., Masonic Temple Bldg. COLORADO SPRINGS ♦Brown, Schlessman, Owen & Company, Exchange National Bank Bldg. Hughes and Company, E. W., Mining Exchange Bldg. ♦Peters, Writer & Christensen, Inc., Mining Exchange Bldg. DENVER Benwell, Oswald F., Colorado NationalBankBldg. Boettcher and Company, Incorporated, 828 Seventeenth St. Bosworth, Chanute, Loughridge & Company, 660 Seventeenth St. Brown & Company, Donald F., U. S. National Bldg. Brown, Schlessman, Owen & Company, Security Bldg. Bulkley and Company, R. G., 1660 Stout St. ♦Bullock, Calvin, Colorado National Bank Bldg. Collins, Croke & Co., First National Bank Bldg. Coughlin-McCabe and Company, Security Bldg. Engle, Adams & Company, 650 Seventeenth St. Garrett-Bromfield & Co., Security Bldg. Gray, Inc., Gray B., First National Bank Bldg. International Trust Company, 625 Seventeenth St. Mullen Investment Company, J. K., 1717 Stout St. ♦Otis & Co., First National Bldg. Peck-Brown & Co., U. S. National Bldg. Peters, Writer & Christensen, Inc., U. S. National Bldg. ♦Rollins & Sons, Inc., E. H., Security Bldg. Scanlan & Co., Earl M., Colorado Natl. Bk. Bldg. Sidlo, Simons, Roberts & Co., First National Bldg. Sudler & Co., Amos C„ First National Bank Bldg. Sullivan & Company, Security Bldg. Vallery & Co., Inc., Geo. W., Security Bldg. Vasconcells, Hicks & Co., Security Bldg. PUEBLO Hutchinson-Frye & Co., Thatcher Bldg. ♦Sullivan & Company, Thatcher Bldg. CONNECTICUT New York Group BRIDGEPORT ♦Hemphill, Noyes & Co., 872 Main St. ♦Kidder & Co., A. M„ 215 State St. GREENWICH ♦Reynolds & Co., 45 E. Putnam Ave. HARTFORD ♦Adams & Peck, 18 Asylum St. ♦Bancamerica-Blair Corporation, 36 Pearl St. ♦Bodell & Co., 15 Lewis St. ♦Brown Harriman & Co., Inc., 36 Pearl St. MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA HARTFORD—Continued. ♦Coffin & Burr, Inc., 75 Pearl St. Cooley & Company, 100 Pearl St. ♦Estabrook & Co., 750 Main St. ♦First Boston Corporation, The, 36 Pearl St. ♦Foster & Co., Inc., 49 Pearl St. ♦Kidder, Peabody & Co., 36 Pearl St. ♦Lazard Freres & Company, Inc., 36 Pearl St. ♦Lee Higginson Corporation, 36 Pearl St. ♦Murphy & Co., G. M.-P., 75 Pearl St. ♦Paine, Webber & Company, 49 Pearl St. ♦Pressprich & Co., R. W., 36 Pearl St. Putnam & Co., 6 Central Row ♦Seligman & Co., J. & W„ 75 Pearl St. ♦Smith & Co., Edward B., Hartford-Aetna Bldg. Stevenson, Gregory & Co., 56 Pearl St. ♦Stone & Webster and Blodget, Inc., 36 Pearl St. ♦Tifft Brothers, 125 Pearl St. ♦Wood, Struthers & Co., Hartford-Connecticut Trust Bldg. Young & Company, Lincoln R., 750 Main St. MERIDEN ♦Kidder & Co., A. M„ 30 Colony St. NEW BRITAIN ♦Putnam & Co., 31 W. Main St. NEW HAVEN ♦Bear, Stearns & Co., 175 Church St. ♦Bodell & Co., 177 Church St. ♦Day & Co., R. L., 215 Church St. ♦Paine, Webber & Company, 104 Elm St. Scranton & Co., Chas. W., 209 Church St. NEW LONDON ♦Scranton & Co., Chas. W., 302 State St. STAMFORD ♦Harriman & Keech, 303 Main St. WATERBURY Griggs Co., The R. F., 50 Leavenworth St. ♦Scranton & Co., Chas. W., 170 Grand St. DELAWARE Eastern Pennsylvania Group WILMINGTON ♦Cassatt & Co., Incorporated, Equitable Trust Bldg. ♦Clark & Co., E. W., duPont Bldg. ♦Harriman & Keech, Delaware Trust Bldg. ♦Rollins & Sons, Inc., E. H., Delaware Trust Bldg. DISTRICT OF COLUMBIA Southeastern Group WASHINGTON Auchlncloss, Parker & Redpath, 719 Fifteenth St., N. W. ♦Barney & Co., Chas. D., Shoreham Bldg. Booker & Co., Y. E., American Security Bldg. ♦Brown & Sons, Alex., Union Trust Bldg. Brown, Goodwyn & Olds, American Security Bldg. ♦Brown Harriman & Co., Inc., 730 Fifteenth St., N. W. ♦Childs and Company, Inc., C. F„ Union Trust Bldg. Ferris & Company, Inc., George M., Washington Bldg. Folger, Nolan & Co., Inc., American Security Bldg. ♦Harriman & Keech, 815 Fifteenth St., N. W. ♦Hemphill, Noyes & Co., Shoreham Bldg. Henderson-Winder Company, Union Trust Bldg. Johnston, Lemon & Co., Southern Bldg. Mackall, William W., Jr., Woodward Bldg. ♦Mackubin, Legg & Company, Woodward Bldg. ♦Murphy & Co., G. M.-P., 1508 H St., N. W. ♦Stein Bros. & Boyce, Woodward Bldg. Waggaman, Brawner & Co., Inc., 1700 Eye St., N. W. Wales & Co., Inc., K. S., 815 Fifteenth St., N. W. FLORIDA Southern Group JACKSONVILLE Biese & Company, A. C., Barnett National Bank Bldg. Childress and Company, Atlantic National Bank Annex ♦Leedy, Wheeler & Co., Barnett National Bank Bldg. McRae & Company, D. F., Barnett National Bank Bldg. MIAMI Morrison & Co., A. B., Congress Bldg. ♦Nuveen & Co., John, Shoreland Arcade Wright & Co., Ed. C„ Ingraham Bldg. ORLANDO ♦Leedy, Wheeler & Co., 1 N. Orange Ave. ST. PETERSBURG Wright & Co., Ed. C.t 29 Third St., N. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TAMPA Kuhn, Morgan & Co., Inc., First National Bank Bldg. GEORGIA Southern Group ATLANTA ♦Blyth & Co., Inc., Citizens & Southern Bldg. ♦Brown Harriman & Co., Incorporated, First National Bank Bldg. ♦Childs and Company, Inc., C. F., 134 Peachtree St. Courts & Co., 11 Marietta St., N. W. Equitable Company, The, Trust Company of Georgia Bldg. ♦Equitable Securities Corporation, First National Bank Bldg. Evans & Company, Clement A., First National Bank Bldg. ♦First Boston Corporation, The, First National Bldg. Hilsman & Co., Inc., J. H., Citizens & Southern Bldg. ♦Johnson, Lane, Space & Co., Inc., Citizens & Southern Bldg. Milhous, Gaines & Mayes, Rhodes-Havert.v Bldg. Robinson-Humphrey Company, The, RhodesHaverty Bldg. ♦Salomon Bros. & Hutzler, First National Bank Bldg. ♦Starkweather & Co., First National Bank Bldg. Trust Company of Georgia, 15 N. Pryor St., N. E. AUGUSTA ♦Johnson, Lane, Space & Co., Inc., Herald Bldg. MACON ♦Trust Company of Georgia, First National Bank Bldg. SAVANNAH Johnson, Lane, Space & Co., Inc., 101 E. Bay St. ♦Trust Company of Georgia, Liberty National Bank Bldg. IDAHO Pacific Northwest Group BOISE Sudler, Wegener & Co., Inc., First National Bldg. ILLINOIS Central States Group ALTON ♦Francis, Bro. & Co., First National Bank Bldg. AURORA Wortman & Co., G. R., Merchants National Bank Bldg. BELLEVILLE ♦Wade & Co., Festus J., Jr., 22 Public Sq. CHICAGO Allyn and Company, Inc., A. C., 100 W. Monroe St. Ames, Emerich & Co., Inc., 105 S. La Salle St. Babcock, Rushton & Company, 135 S. La Salle St. Additional office at 333 N. Michigan Ave. Bacon, Whipple & Co., 135 S. La Salle St. Baker, Fentress & Company, 208 S. La Salle St. Baker, Walsh & Company, 29 S. La Salle St. Ballman & Main, 105 W. Adams St. ♦Bancamerica-Blair Corporation, 135 S. La Salle St. ♦Bankers Trust Company, 105 S. La Salle St. Barcus, Kindred & Co., 231 S. La Salle St. ♦Barr Brothers & Co., Inc., 135 S. La Salle St. Bartlett, Knight & Co., 105 W. Adams St. Becker & Co., A. G., 10O S. La Salle St. ♦Bennett Bros. & Johnson, 135 S. La Salle St. Blair, Bonner & Company, 135 S. La Salle St. ♦Blake Brothers & Company, 209 S. La Salle St. ♦Blyth & Co., Inc., 135 S. La Salle St. ♦Boettcher and Company, Incorporated, 135 S. La Salle St. ♦Bond & Goodwin Incorporated of Illinois, 209 S. La Salle St. (Branch of Bond & Goodwin, Inc., Boston) ♦Braun, Bosworth & Company, 39 S. La Salle St. Brewer & Company, Inc., F. A., 208 S. La Salle St. ♦Brown-Crummer Investment Company, 38 S. Dearborn St. ♦Brown Harriman & Co., Inc., 135 S. La Salle St. ♦Bullock, Calvin, 120 S. La Salle St. ♦Burnett, E. M., Middle West Representative, The Anglo California National Bank of San Fran cisco, 231 S. La Salle St. ♦Burr & Company, Inc., 209 S. La Salle St. Byllesby and Company, H. M., 231 S. La Salle St. Central Republic Company, 209 S. La Salle St. Channer Securities Company, 39 S. La Salle St. Childs and Company, Inc., C. F., 141 W. Jackson Blvd. City National Bank and Trust Company of Chicago, 208 S. La Salle St. Clark, Inc., John W., 141 W. Jackson Blvd. Cleveland & Company, Inc., Paul W„ 120 S. La Salle St. Continental Illinois National Bank and Trust Company of Chicago, 231 S. La Salle St. ♦BRANCH OFFICE 1649 ♦Dain & Company, J. M., Board of Trade Bldg. Dangler, Lapham & Co., Ill W. Monroe St. Davis & Co., Paul H., 10 S. La Salle St. Dempsey-Detmer & Co., 135 S. La Salle St. ♦Devine & Co., Inc., C. J„ 135 S. La Salle St. ♦Dickson & Company, R. S., 135 S. La Salle St. ♦Dominion Securities Corporation, 120 S. La Salle St. Dunbar & Company, John B„ 135 S. La Salle St. Enyart, Van Camp & Feil, Inc., 39 S. La Salle St. Ericson, Nichols & Robbins, Inc., 135 S. La Salle St. Farwell, Chapman & Co., 208 S. La Salle St. ♦First Boston Corporation, The, 231 S. La Salle St. First National Bank of Chicago, Dearborn, Monroe & Clark Sts. ♦First of Michigan Corporation ,135 S. La Salle St. Fuller, Cruttenden & Company, 120 S. La Salle St. Gibson & Co., W. C„ 231 S. La Salle St. ♦Glore, Forgan & Co., 123 S. La Salle St. ♦Goldman, Sachs & Co., 208 S. La Salle St. ♦Hallgarten & Co., 120 S. La Salle St. ♦Hammons & Co., Inc. of Illinois, 231 S. La Salle St. Harris, Hall & Company, 111 W. Monroe St. Harris Trust and Savings Bank, 115 W. Monroe St. Harrison, O’Gara & Co., 209 S. La Salle St. Haskell, Scott & Jennings, Inc., 120 S. La Salle St. ♦Hemphill, Noyes & Co., Board of Trade Bldg. Hickey & Co., 39 S. La Salle St. ♦Hoit, Rose & Troster. 231 S. La Salle St. ♦Hornblower & Weeks, 39 S. La Salle St. Huyck and Company, A. S., 100 W. Monroe St. Illinois Company of Chicago, 231 S. La Salle St. ♦Jackson & Curtis, 231 S. La Salle St. Joiner & Co., Inc., T. E„ 135 S. La Salle St. Kelley, Richardson & Co., Inc., 135 S. La Salle St. Kerfoot, Leggett & Company, 141 W. Jackson Blvd. Konsberg & Company, 53 W. Jackson Blvd. ♦Lazard Freres & Company, Inc., 135 S. LaSalle St. ♦Learoyd & Nightingale, Inc., 120 S. La Salle St. ♦Lee Higginson Corporation, 141 W. Jackson Blvd. ♦Lehman Brothers, 231 S. La Salle St. Lewis, Pickett & Co., Inc., 105 W. Adams St. ♦Mackubin, Legg & Co., 105 W. Adams St. ♦Massachusetts Distributors, Inc., 120 S. La Salle St. Mather & Company, Inc., Morris, Board of Trade Bldg. Mathews & Co., Henry T., 135 S. La Salle St. McGhie & Co., George, 105 S. La Salle St. McGowen, Cassady & White, Inc., 135 S. La Salle St. McGraw & Company, 120 S. La Salle St. McMaster Hutchinson & Co., 105 S. La Salle St. McNear & Company, C. W., 105 W. Adams St. ♦Mercantile-Commerce Bank and Trust Company, 135 S. La Salle St. ♦Mericka & Co., Inc., Wm. J., 135 S. La Salle St. ♦Milwaukee Company, The, 135 S. La Salle St. Mitchell, Hutchins & Co., 231 S. La Salle St. ♦Moseley & Co., F. S., 135 S. La Salle St. Nichols, Terry & Dickinson, Inc., 141 W. Jackson Blvd. Northern Trust Company, 50 S. La Salle St. Nuveen & Co., John, 135 S. La Salle St. ♦Ohrstrom & Co., Inc., G. L., 141 W. Jackson Blvd. ♦Otis & Co., 105 W. Adams St. ♦Paine, Webber & Company, 209 S. La Salle St. ♦Pressprich & Co., R. W„ 135 S. La Salle St. ♦Riter & Co., 134 S. La Salle St. Robinson & Co., B. B., 39 S. La Salle St. ♦Rogers & Company, Inc., Hartley, 105 S. La Salle St. Rogers & Tracy, Inc., 120 S. La Salle St. ♦Rollins & Sons, Inc., E. H., 231 S. La Salle St. Ross Securities Co., Thompson, 29 S. La Salle St. ♦Salomon Bros. & Hutzler, 231 S. La Salle St. Seerley & Co., Inc., John J., 105 S. La Salle St. Selected Investments Company, 135 S. LaSalle St. ♦Shields & Company, 135 S. La Salle St. Showers, Robert, 10 S. La Salle St. Sills, Troxell & Minton, Inc., 209 S. La Salle St. ♦Smith & Co., Inc., Edward B., 105 W. Adams St. CBranch of Edward B. Smith & Co., New York) Speer & Sons Company, H. C., 135 S. La Salle St. Stern and Company Incorporated, Lawrence, 231 S. La Salle St. ♦Stifel, Nicolaus & Co., Inc., 105 W. Adams St. Stokes, Woolf & Co., Inc., 105 S. La Salle St. ♦Stone & Webster and Blodget, Inc., 33 S. Clark St. ♦Stranahan, Harris & Company, Inc., 135 S. La Salle St. Straus Securities Corporation, 135 S. La Salle St. ♦Taussig, Day & Company, Inc., 208 S. La Salle St. Webber, Darch & Company, 208 S. La Salle St. Webber-Simpson & Company, 105 W. Adams St. Welsh and Green, Incorporated, 135 S. LaSalle St. ♦White-Phillips Company, Inc., The, 39 S. La Salle St. (Branch of White-Phillips Corporation, Daven port) Winthrop, Mitchell & Co., 141 W. Jackson Blvd. Wittbold & Co., John, 10 S. La Salle St. ♦Wood & Company, Harold E., 135 S. La Salle St. ♦Wright & Co., Ed. C., Board of Trade Bldg. Yantis & Co., Inc., F. S., 120 S. La Salle St. MONMOUTH Moffat & Co., Inc., D. W., Woods Bldg. PEORIA ♦Allyn and Company, Inc., A. C. Jefferson Bldg. ♦Dempsey-Detmer & Co., Lehman Bldg. Rogers and Company, Inc., N. L., 416 Main St. ♦Seerley & Company, Inc., John J. Alliance Life Bldg. ♦Shields & Company, Central National Bank Bldg. MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA 1650 ROCKFORD •Shields & Company, Talcott Bldg. SPRINGFIELD Dlxon-Bretscher Company, Inc., The, First National Bank Bldg. Fernandes & Company, Monroe at Fifth St. INDIANA Central Stales Group FORT WAYNE Central Securities Corporation, 126 E. Berry St. INDIANAPOLIS •Becker & Co., A. G„ Circle Tower •Blyth & Co., Inc., Circle Tower •Brown Harriman & Co., Inc., Fletcher Trust Bldg. •Davis & Co., Paul H., Circle Tower •Hemphill, Noyes & Co., Fletcher Trust Bldg. Indianapolis Bond and Share Corporation, 129 E. Market St. •Moseley & Co., F. S„ Circle Tower •Straus Securities Corporation, Circle Tower. SOUTH BEND Harrison & Austin, Inc., Citizens Bank Bldg. McGann Securities Company, Inc., Albert, 111 W. Washingtbn Ave. IOWA Central States Group BURLINGTON Hanna and Company, W. D., Main and Jefferson Sts. CEDAR RAPIDS •Hanna and Company, W. D., Merchants National Bank Bldg. McIntyre & Co., Scott, 300 Second Ave., S. E. •Prlester, Quail & Co., Merchants National Bank Bldg. •Wood & Company, Harold E., 512 Second Ave., S. E. DAVENPORT Prlester, Quail & Co., Davenport Bank Bldg. Vieth, Duncan, Worley & Wood, Davenport Bank Bldg. White-Phillips Corporation, First National Bldg. DES MOINES •Allyn and Company, Inc., A. C. 104 S. W. 42nd St. •Babcock, Rushton & Company, Fleming Bldg. •Brown-Crummer Investment Company, The, Equitable Bldg. Central National Bank and Trust Company, 314 Fifth St. •Hanna and Company, W. D., Equitable Bldg. Iowa-Des Moines National Bank & Trust Com pany, Sixth and WTalnut Sts. Jackley & Company, Equitable Bldg. Murdoch, Dearth & White, Inc., Des Moines Bldg. Polk-Peterson Corporation, Des Moines Bldg. •Priester, Quail & Co., Equitable Bldg. •Seerley & Company, Inc., John J., Des Moines Bldg. •White-Phillips Corporation, Iowa-Des Moines National Bldg. IOWA CITY •McIntyre & Co., Scott, Johnson County Bank Bldg. WATERLOO •Allyn and Company, Inc., A. C., Waterloo Bldg. •Hanna and Company, W. D., Pioneer Bldg. •Polk-Peterson Corporation, Commercial Bldg. KANSAS Southwestern Group KANSAS CITY Commercial National Bank of Kansas City, The, 601 Minnesota Ave. TOPEKA Estes, Payne & Co., 103 E. Tenth St. Gourley Company, M. B„ National Bank of Topeka Bldg. WICHITA Branch Investment Company, The Vernon H., Brown Bldg. Brown-Crummer Investment Company, The, Schweiter Bldg. Dunne-Israel Co., The, Schweiter Bldg. Lathrop-Hawk-Herrick Company, Inc., First National Bank Bldg. Ranson-Davidson Investment Company, The, Beacon Bldg. Small-Milburn Company, The, Wheeler-KellyHagny Bldg. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis KENTUCKY MASSACHUSETTS Ohio Valley Group New England Group LEXINGTON •Hutton & Company, W. E., Hernando Bldg. Van Hooser & Company, J. D., 261 W. Short St. BOSTON •Adams & Peck, 35 Congress St. •Adams, Mudge & Co., Ill Devonshire St. •Allyn and Company of New England, Inc., A. C., 30 Federal St. LOUISVILLE Almsted Brothers, 425 W. Market St. Bankers Bond Co., Inc., The Kentucky Home Life Bldg. •Blyth & Co., Inc., Kentucky Home Life Bldg. Hilliard & Son, J. J. B„ 419 W. Jefferson St. Moore & Co., Berwyn T., Marion E. Taylor Bldg. •Reynolds & Co., Heyburn Bldg. •Stein Bros. & Boyce, Starks Arcade Bldg. Willson & Co., James C„ 130 S. Fifth St. LOUISIANA Southern Group NEW ORLEANS Anagnosti & Walker, Inc., Whitney Bank Bldg. Dane & Weil, Inc., Canal Bank Bldg. •Equitable Securities Corp., Whitney Bank Bldg. Lamar, Kingston & Labouisse, Canal Bank Bldg. Levy & Rooney, Inc., Whitney Bank Bldg. Moore and Hymans, 610 Common St. National Bank of Commerce in New Orleans, The, Baronne & Common Sts. Newman, Harris & Co., Maritime Bldg. Nusloch, Baudean & Smith, Inc., Hibernia Bank Bldg. Saunders Company, Inc., P. H., American Bank Bldg. Scharff & Jones, Inc., Whitney Bank Bldg. Vass & Co., Inc., Lachlan M., Whitney Bank Bldg. Weil & Company, Inc., Union Bldg., Arcade Whitney National Bank of New Orleans, St. Charles & Gravier Sts. SHREVEPORT Barrow, Leary & Co., Inc., 515 Market St. •Scharff & Jones, Inc., 513 Market St. MAINE New England Group AUBURN Morton Company, Philip H., 109 Davis Ave. BANGOR Pierce, White & Drummond, Eastern Trust Bldg. PORTLAND •Baldwin & Company, Chapman Bldg. •Bond & Goodwin, Inc., 120 Exchange St. •Brown Harriman & Co., Inc., 465 Congress St. •Coffin & Burr, Inc., 120 Exchange St. Gilman & Co., Inc., Charles H., 186 Middle St. •Hayden, Stone & Co., 477 Congress St. •Hornblower & Weeks, 83 Exchange St. Maine Securities Company, Fidelity Bldg. Payson & Co., H. M., 93 Exchange St. •Putnam & Company, Inc., F. L., 97 Exchange St. •Rollins & Sons, Inc., E. H., Fidelity Bldg. Rounds Co., Harry A., 184 Middle St. State Investment Company, The, Fidelity Bldg. MARYLAND Southeastern Group BALTIMORE Allen & Company, Edward D., Keyser Bldg. •Auchincloss, Parker & Redpath, Mercantile Trust Bldg. Baker, Watts & Co., Calvert & Redwood Sts. •Bankers Trust Company, Maryland Trust Bldg. •Barney & Co., Chas. D., Ill E. Redwood St. Brown & Sons, Alex, 135 East Baltimore St. •Byllesby & Co., H. M., Baltimore Trust Bldg. Cahn & Company, Frank B„ Equitable Bldg. Daly & Co., Owen, 23 South St. Equitable Trust Company, The, Calvert & Fay ette Sts. •First Boston Corporation, The, First National Bldg. Garrett & Sons, Robert, South & Redwood Sts. •Herrick, Heinzelmann & Ripley, Inc., Mercantile Trust Bldg. Hudson & Co., First National Bank Bldg. •Hutton & Company, W. E., First National Bank Bldg. Jones, Schaefer & Company, First National Bldg. •Kidder, Peabody & Co., Mercantile Bank Bldg. Lanahan & Co., W. W., Calvert Bldg. Mackubin, Legg & Company, 222 E. Redwood St. Marburg, Price & Co., Keyser Bldg. Maryland Trust Company, Calvert & Redwood Sts. Mead, Irvine & Co., First National Bank Bldg. Mercantile Trust Company of Baltimore, Calvert, Redwood & Baltimore Sts. •Murphy & Co., G. M.-P, Calvert Bldg. •Pierce & Co., Frederick, First National Bldg. Shriver & Co., Inc., George G., Mercantile Trust Bldg. •Starkweather & Co., Keyser Bldg. Stein Bros. & Boyce, 6 S. Calvert St. Strother, Brogden & Co., 20 S. Calvert St. Trail & Middendorf, Inc., Keyser Bldg. Williams & Company, Inc., C. T„ Fidelity Bldg. HAGERSTOWN •Stein Bros. & Boyce, 116 W. Washington St. •BRANCH OFFICE Branch of A. C. Allyn and Company, Inc., Chicago. •Ames & Co., Inc., A. E., 50 Congress St. Baker & Company, Inc., B. J., 209 Washington St. Baker, Young & Company, Inc., 209 Washington St. Baldwin & Company, 30 Federal St. Ballou, Adams & Whittemore, Inc., 49 Federal St. •Bancamerica-Blair Corporation, 75 Federal St. •Bankers Trust Company, 10 Post Office Sq. •Battles & Company, Inc., 75 Federal St. •Blake Brothers & Company, 111 Devonshire St. •Blyth & Co., Inc., Ill Devonshire St. •Bodell & Co., 35 Congress St. Bond & Goodwin, Inc., 30 Federal St. •Brown Harriman & Co., Inc., 10 Post Office Sq. •Bullock, Calvin, 68 Devonshire St. Burgess & Leith, 75 Federal St. •Burr & Company, Inc., 35 Congress St. Burr, Gannett & Co., 53 State St. •Cassatt & Co., Incorporated 1 Federal St. Chace, Whiteside & Co., Inc., 24 Federal St. •Childs and Company, Inc., C. F., 82 Devonshire St. •Clark, Dodge & Co., 70 Federal St. Coffin & Burr, Inc., 60 State St. Collins, Breed & Co., 82 Devonshire St. Conant & Co., Inc., A. B., 84 State St. Day & Co., R. L., 45 Milk St. •Devine & Co., Inc., C. J., 75 Federal St. •Dick & Merle-Smith, 30 State St. Estabrook & Co., 15 State St. Faxon & Co., Inc., 100 Milk St. •First Boston Corporation, The, 1 Federal St. •Foster & Co., Inc., 82 Devonshire St. •Goldman, Sachs & Co., 75 Federal St. •Graham, Parsons & Co., 10 Post Office Sq. Hale, Waters & Company, Inc., 199 Washington St. •Hayden, Stone & Co., 75 Federal St. •Hoit, Rose & Troster, 10 Post Office Sq. Hornblower & Weeks, 60 Congress St. •Hutton & Company, W. E., 75 Federal St. Jackson & Curtis, 10 Post Office Sq. Kennedy, Spence & Co., 75 Federal St. •Kidder, Peabody & Co., 115 Devonshire St. •Lazard Freres & Company, Inc., 75 Federal St. Learoyd & Nightingale, Inc., 50 Congress St. •Lee Higginson Corporation, 50 Federal St. Lyons & Company, 75 Federal St. Massachusetts Distributors, Inc., 85 Devonshire St. Moors & Cabot, 111 Devonshire St. Moseley & Co., F. S., 50 Congress St. •Murphy & Co., G. M.-P., 50 Congress St. Newton, Abbe & Company, 60 Federal St. •Ohrstrom & Co., Inc., G. L., 75 Federal St. Paine, Webber & Company, 24 Federal St. Parker Corporation, The, 1 Court St. •Paul & Co., Inc., 50 Congress St. Perry & Co., Inc., Arthur, 31 Milk St. Preston, Moss & Company, 111 Devonshire St. Putnam & Compahy, Inc., F. L., 159 Devonshire St. •Riter, & Co., 24 Federal St. •Rollins & Sons, Inc., E. H., 75 Federal St. •Rothschild & Co., L. F„ 30 State St. •Salomon Bros. & Hutzler, 75 Federal St. •Schoellkopf, Hutton & Pomeroy, Inc., 75 Federal St. •Seligman & Co., J. & W., 49 Federal St. •Shields & Company, 82 Devonshire St. •Smith & Co., Edward B., Ill Devonshire St. •Stone & Webster and Blodget, Inc., 49 Federal St. Studley, Shupert & Co., 50 Congress St. •Swart, Brent & Co., Inc., 49 Federal St. Thornton & Curtis, 24 Federal St. •Tifft Brothers, 50 Congress St. •Trask & Co., Spencer, 50 Congress St. Tucker, Anthony & Co., 74 State St. Tyler, Buttrick & Co., Inc., 75 Federal St. Wainwright & Co., H. C„ 60 State St. Washburn & Company, Inc., 24 Federal St. •Watson & Co., Inc., Eli T„ 75 Federal St. •Watson & White, 10 Post Office Sq. •White, Weld & Co., Ill Devonshire St. Whiting, Weeks & Knowles, Inc., 36 Federal St. Whitney & Elwell, 30 State St. Wood Company, Arthur W., 19 Congress St. CAMBRIDGE •Jackson & Curtis, Harvard Sq. LOWELL •Kidder, Peabody & Co., 9 Central St. LYNN •Jackson & Curtis, 23 Central Ave. NEW BEDFORD •Kidder, Peabody & Co., First National Bldg. •Studley, Shupert & Co., First National Bldg. •Tucker, Anthony & Co., 555 Pleasant St. PITTSFIELD •Murphy & Co., G. M.-P., 28 North St. •Reynolds & Co., 28 North St. •Tifft Brothers, 100 North St. MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA SPRINGFIELD ♦Day & Co., R. L„ Third National Bank Bldg. ♦Estabrook & Co., 1387 Main St. ♦First Boston Corporation, The, Third National Bank Bldg. ♦Hayden, Stone & Co., 1387 Main St. ♦Jackson & Curtis, 1387 Main St. ♦Kidder, Peabody & Co., 1391 Main St. ♦Paine, Webber & Company, Third National Bank Bldg. ♦Putnam & Company, Inc., F. L., Third National Bank Bldg. ♦Rollins & Sons, Inc., E. H., 1387 Main St. Tifft Brothers, 1387 Main St. JACKSON ♦Dominick & Dominick, 120 W. Michigan Ave. WORCESTER Adams, Mudge & Co., 340 Main St. ♦Baldwin & Company, State Mutual Bldg. ♦Jackson & Curtis, 340 Main St. ♦Lee Higginson Corporation, 16 Norwich St. ♦Paine, Webber & Company, State Mutual Bldg. ♦Tifft Brothers, 332 Main St. ♦Trask & Co., Spencer, 340 Main St. ♦Whiting, Weeks & Knowles, Inc., Slater Bldg. ♦Wood, Struthers & Co., State Mutual Bldg. MARQUETTE ♦Ross Securities Co., Thompson, Harlow Block. KALAMAZOO ♦Petter & Company, J. H., American National Bank Bldg. ♦Ross Securities Co., Thompson, American Natl. Bank Bldg. LANSING ♦Hutton & Company, W. E.t 121 W. Michigan Ave. SAGINAW ♦Ross Securities Co., Thompson, Second National Bank Bldg. MINNESOTA Minnesota Group MICHIGAN Michigan Group ANN ARBOR ♦Watling, Lerchen & Hayes, Ann Arbor Trust Bldg. BATTLE CREEK ♦Ross Securities Co., Thompson, City Bank Bldg. DETROIT Alison & Company, 535 Griswold St. ♦Allyn and Company, Inc., A. C., Buhl Bldg. Baker, Simonds & Co., Buhl Bldg. ♦Bancamerica-Blair Corporation, Buhl Bldg. ♦Bankers Trust Company, Buhl Bldg. ♦Blyth & Co., Inc., Buhl Bldg. ♦Braun, Bosworth & Company, Union Guardian Bldg. ♦Brown Harriman & Co., Incorporated, First National Bldg. Campbell, McCarty & Company, Inc., Buhl Bldg. Carey & Co., Matthew, Union Guardian Bldg. Clayton and Company, Fidelity Bldg. Cray, McFawn & Company, Fidelity Bldg. Crouse & Company, Penobscot Bldg. ♦Dominick & Dominick, 601 Griswold St. Field, McDonald & Company, Buhl Bldg. First of Michigan Corporation, Buhl Bldg. Grier & Co., Inc., John C., Buhl Bldg. Higbie Corporation, Carlton M., Buhl Bldg. ♦Hornblower & Weeks, Penobscot Bldg. ♦Hutton & Company, W. E., Fisher Bldg. Keane & Company, 645 Griswold St. Livingstone & Co., S. R., Penobscot Bldg. Martin, Smith & Company, Inc., Union Guardian Bldg. McDonald, Moore & Hayes, Inc., Penobscot Bldg. O’Donnell and Company, R. C., Penobscot Bldg. ♦Paine, Webber & Company, Penobscot Bldg. Parcells & Co., Charles A., Penobscot Bldg. Peter, Keenan & Co., Inc., Buhl Bldg. Rollins & Sons, Inc., E. H., National Bank Bldg. Sattley & Company, Inc., H. V., Hammond Bldg. ♦Selected Investments Company, Penobscot Bldg. Shannon, Kenower & Company, Inc., Penobscot Bldg. ♦Sills, Troxell & Minton, Inc., Penobscot Bldg. Small & Co., Sidney R., Penobscot Bldg. ♦Stifel, Nicolaus & Co., Inc., Union Guardian Bldg. ♦Stranahan, Harris & Company, Inc., Buhl Bldg. ♦Straus Securities Corporation, Union Guardian Bldg. Watkins & Fordon, Inc., Penobscot Bldg. Watling, Lerchen & Hayes, Buhl Bldg. Wedthoff & Co., Guy G., Penosbcot Bldg. Weed, Hall & Company, Ford Bldg. Whitlock, Smith & Co., Penobscot Bldg. FLINT ♦Allyn and Company, Inc., A. C„ Genesee Bank Bldg. GRAND RAPIDS Kusterer & Company, A. E., Michigan Trust Bldg. ♦McDonald, Moore & Hayes, Inc., Grand Rapids Trust Bldg. ♦Paine, Webber & Company, Peoples National Bank Bldg. Petter & Company, J. H., Michigan Trust Bldg. ♦Rollins & Sons, Inc., E. H., 60 Monroe Ave. ♦Ross Securities Co., Thompson, Grand Rapids Trust Bldg. DULUTH First and American National Bank of Duluth, 231 W. Superior St. Northern National Bank of Duluth, 304 W. Superior St. ♦Paine, Webber & Co., Medical Arts Bldg. ♦Wells-Dickey Co., Alworth Bldg. MINNEAPOLIS Allison-Williams Company, Northwestern Bank Bldg. Angland & Company, Incorporated, Rand Tower. Ashmun Co., C. S„ First National-Soo Line Bldg. ♦Becker & Co., A. G., First National-Soo Line Bldg. Bigelow, Webb & Co., Incorporated, First National-Soo Line Bldg. Bishop & Co., M. H., Frontenac Bldg. ♦Blyth & Co., Inc., Rand Tower ♦Brown Harriman & Co., Inc., Northwestern Bank Bldg. ♦Byllesby and Company, H. M., Rand Tower ♦Central Republic Company, Rand Tower Dain & Company, J. M., Rand Tower ♦First Boston Corporation, The, Northwestern Bank Bldg. First National Bank and Trust Company, 115 S. Fifth St. Fuller Company, Charles A., Northwestern Bank Bldg. Jones Co., Geo. C., Northwestern Bank Bldg. ♦Kalman & Company, McKnight Bldg. Lowe Company, Justus F., First National-Soo Line Bldg. Needham & Company, Inc., Rand Tower Nelson Company, Guy A., Baker Bldg. Northwestern National Bank and Trust Company Northwestern Bank Bldg. Overman, Inc., I. H., First National-Soo Line Bldg. ♦Paine, Webber & Company, Rand Tower Piper, Jaffray & Hopwood, 115 S. Seventh St. Rieger & Co., Inc., C. C., First National-Soo Line Bldg. ♦Rollins & Sons, Inc., E. H., Northwestern Bank Bldg. ♦Salomon Bros. & Hutzler, Rand Tower ♦Seerley & Company, Inc., John J., Roanoke Bldg. ♦Smith & Co., Inc., Edward B., Northwestern Bank Bldg. Thrall West Company, Northwestern Bank Bldg. Wells-Dickey Co., Metropolitan Bank Bldg. Wittenberg Merrick Company, Northwestern Bank Bldg. ♦Wood & Company, Harold E., Northwestern Bank Bldg. Woodard-Elwood & Company, Rand Tower ST. PAUL ♦Bigelow, Webb & Co., Incorporated, First National Bldg. ♦Brown-Crummer Investment Company, The, First National Bldg. ♦Central Republic Company, First National Bldg. First National Bank of Saint Paul, Fourth and Minnesota Sts. Gates & Co., Stanley, 345 Robert St. Greenman & Cooke, Inc., First National Bldg. Kalman & Company, 143 E. Fourth St. ♦Kerfoot, Leggett & Company, Pioneer Bldg. Mannheimer-Caldwell, Inc., First National Bldg. ♦Paine, Webber & Company, Pioneer Bldg. ♦Riter & Co., Pioneer Bldg. ♦Wells-Dickey Co., Endicott Bldg. ♦Williams Co., E. C., Pioneer Bldg. Wood & Company, Harold E.,FirstNational Bldg. MISSISSIPPI Southern Group HOLLAND ♦Petter & Company, J. H., 61 E. Eighth St. IRON MOUNTAIN ♦Ross Securities Co., Thompson, U. S. National Bank Bldg. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JACKSON ♦Scharff & Jones, Inc., Lamar Life Bldg. Speed Company, Leland, Merchants Bank Bldg. VICKSBURG First National Bank & TrustlCompany of Vicks burg, Washington St. ♦BRANCH OFFICE 1651 MISSOURI KANSAS CITY Southwestern Group Alexander, McArthur & Company, 922 Baltimore Ave. •Allyn and Company, Inc., A. C., 1012 Baltimore Ave. ♦Bancamerica-Blair Corporation, Finance Bldg. Baum Bernheimer Company, 1016 Baltimore Ave. ♦Blyth & Co., Inc., Commerce Bldg. ♦Brown-Crummer Investment Company, The, 21 W. Tenth St. Callender, Burke & MacDonald, Fidelity Bldg. ♦Childs and Company, Inc., C. F., 15 W. Tenth St. City National Bank and Trust Company, 18th & Grand Ave. Commerce Trust Company, Tenth & Walnut Sts. ♦Estes, Payne & Co., Dwight Bldg. Folsom, Wheeler & Co., 928 Baltimore Ave. ♦Herrick, Heinzelmann & Ripley, Inc., 1012 Baltimore Ave. ♦Mercantile-Commerce Bank and Trust Company, Dwight Bldg. ♦Moseley & Co., F. S„ R. A. Long Bldg. Prescott, Wright, Snider Company, 918 Baltimore Ave. ♦Rollins & Sons, Inc., E. H., Land Bank Bldg. ♦Seerley & Company, Inc., John J., 1006 Balti more Ave. Stern Brothers & Company, 1015 Baltimore Ave. Weltner, Bigelow & Co., Inc., Dwight Bldg. ST. JOSEPH Southwestern Group First Trust Company, The, Fourth & Felix Sts. ♦Seerley & Company, Inc., John J., Schneider Bldg. ST. LOUIS Mississippi Valley Group ♦Bancamerica-Blair Corporation, Boatmen’s Bank Bldg. Bitting & Co., 316 N. Eighth St. Bitting, Jones & Co., Inc., 411 N. Seventh St. ♦Blyth & Co., Inc., Boatmen’s Bank Bldg. Boatmen’s National Bank, The, 300 N. Broadway. Bramman-Schmidt-Busch, Inc., Boatmen’s Bank Bldg. ♦Brown Harriman & Co., Inc., Boatmen’s Bank Bldg. ♦Bullock, Calvin, Security Bldg. ♦Childs and Company, Inc., C. F„ 314 N. Broad way. Crago, Hitchcock & Co., Security Bldg. Daly and Craib, Locust at Ninth St. ♦Devine & Co., Inc., C. J., 314 N. Broadway Dietz, Chamberlain & Co., Incorporated, 314 N. Broadway. D’Oench, Duhme & Co., Inc., 315 N. Seventh St. ♦First Boston Corporation, The, 314 N. Broadway First National Company, 323 N. Broadway Francis, Bro. & Co., 222 N. Fourth St. Giger and Company, Inc., 211 N. Fourth St. ♦Goldman, Sachs & Co., Boatmen’s Bank Bldg. Honig Co., Theodore C., 314 N. Broadway Jones & Co., Edward D„ Boatmen’s Bank Bldg. Kerwin, Fotheringham & Co., Inc., 314 N. Broad way. ♦Mackubin, Legg & Co., Boatmen’s Bank Bldg. Mahan & Company, L. E„ 509 Olive St. Mercantile-Commerce Bank and Trust Company, 721 Locust St. Metropolitan St. Louis Company, 718 Locust St. Mississippi Valley Trust Company, Broadway & Olive Sts. ♦Moseley & Co., F. S., Boatmen’s Bank Bldg. Newhard, Cook & Co., 400 Olive St. Preiss, Wibbing & Co., Security Bldg. Reinholdt & Gardner, 400 Locust St. ♦Rollins & Sons, Inc., E. H., 314 N. Broadway Rubert & Company, Rudolph, 506 Olive St. Ruppert & Company, Inc., H. L., 400 Pine St. ♦Seerley & Company, Inc., John J., Boatmen’s Bank Bldg. Simon & Co., I. M., 315 N. Fourth St. ♦Smith & Co., Inc., Edward B., Boatmen’s Bank Bldg. Smith, Moore & Co., 509 Olive St. Stifel, Nicolaus & Co., Inc., 314 N. Broadway Stix & Co., 509 Olive St. Taussig, Day & Company, Inc., Boatmen’s Bank Bldg. Theis & Sons, Inc., Albert, 410 Olive St. Wade & Co., Festus J., Jr., 318 N. Eighth St. Walker & Co., G. H., 503 Locust St. Whitaker & Company, N. E. Cor. Fourth & Olive Sts. NEBRASKA Central States Group LINCOLN ♦Burns, Potter & Company, Stuart Bldg. First Trust Company of Lincoln, The, Tenth & O Sts. ♦Greenway-Raynor Co., Sharp Bldg. ♦Wachob, Bender & Company, Insurance Bldg. OMAHA ♦Allyn and Company, Inc., A. C., Insurance Bldg. ♦Boettcher and Company, Incorporated, Omaha National Bank Bldg. 1652 MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA OMAHA—Continued ♦Brown-Crummer Investment Company, The, Insurance Bldg. Burns, Potter & Company, 202 S. Seventeenth St. ♦Byllesby and Company, H. M., Farnam Bldg. Greenway-Raynor Co., First National Bank Bldg. Hall and Company, Inc., Ware, First National Bank Bldg. Kirkpatrick-Pettis-Loomis Company, Omaha National Bank Bldg. National Company of Omaha, The, First National Bank Bldg. ♦Stern Brothers & Company, Insurance Bldg. Wachob, Bender & Company, 210-212 S. Seventeenth St. NEW HAMPSHIRE New England Group CONCORD ♦Paine, Webber & Company, 3 Capitol St. ♦Rollins & Sons, Inc., E. H., 3 No. State St. MANCHESTER ♦Rollins & Sons, Inc., E. H., Amoskeag Bank Bldg. NEW JERSEY New York Group ASBURY PARK ♦McDonnell & Co., Berkeley Carteret Hotel EAST ORANGE ♦Reynolds & Co., 22 Prospect St. JERSEY CITY Bullock, Calvin, 921 Bergen Ave. ♦Distributors Group, Incorporated, 1 Exchange PI. ♦Lord, Abbett & Co., Inc., 1 Exchange PI. ♦Massachusetts Distributors, Inc., 15 Exchange PI. ♦Nickerson & Co., Inc., John, 15 Exchange PI. Outwater & Wells, 15 Exchange PI. Reybarn Company, Inc., The., 15 Exchange PI. MORRISTOWN ♦Reynolds & Co., Park Square Bldg. NEWARK ♦Clark, Dodge & Co., 744 Broad St. Colyer, Robinson & Company, Inc., 1180 Ray mond Blvd. ♦Kean, Taylor & Co., 744 Broad St. ♦Minsch, Monell & Co., 790 Broad St. ♦Ohrstrom & Co., Inc., G. L., 744 Broad St. Preim & Co., C. A., 744 Broad St. Rippel & Co., J. S., 18 Clinton St. Van Deventer, Spear & Co., Inc., 24 Commerce St. PATERSON ♦Clark, Dodge & Co., 152 Market St. ♦Harriman & Keech, 175 Market St. Marine Trust Company of Buffalo, The, 237 Main St. O’Brian, Potter & Co., Liberty Bank Bldg. ♦Rollins & Sons, Inc., E. H., 11 Niagara St. Schoellkopf, Hutton & Pomeroy, Inc., 70 Niagara St. ♦Seligman & Co., J. & W., Liberty Bank Bldg. ♦Starkweather & Co., 800 Ellicott Sq. Wood, Trubee & Co., M & T Bldg. CORTLAND ♦Glidden, Morris & Co., Savings Bank Bldg. ELMIRA ♦Treman & Co., Arthur B„ 125 Lake St. GLENS FALLS ♦Trask & Co., Spencer, Queensbury Hotel ITHACA Treman & Co., Arthur B., First National Bank Bldg. NEWBURGH ♦Shields & Company, Academy of Music Bldg. NEW ROCHELLE ♦Shields & Company, 271 North Ave. NEW YORK CITY Adams & Peck, 6S Wall St. Adams, McEntee & Co., Inc., 40 Wall St. Aldred & Co., 40 Wall St. Allen & Company, H. L„ 100 Broadway ♦Allyn and Company, Inc., A. C„ 40 Wall St. ♦Ames & Co., Inc., A. E., 120 Broadway (Branch of A. E. Ames & Co., Limited, Toronto) Amott, Baker & Co., Incorporated, 150 Broadway ♦Auchincloss, Parker & Redpath, 63 Wall St. ♦Babcock, Rushton & Company, 50 Broadway Bacon, Stevenson & Co., 39 Broadway Baker & Co., J. E„ 14 Wall St. Bancamerica- Blair Corporation, 44 Wall St. ♦Bank of Montreal, Agency, 64 Wall St. (Agency of Bank of Montreal, Head Office, Montreal) Bankers Trust Company, 16 Wall St. ♦Banks, Huntley & Company, 20 Pine St. Barney & Co., Chas. D., 14 Wall St. Barr Brothers & Co., Inc., 40 Wall St. ♦Battles & Company, Inc., 90 Broad St. Bear, Stearns & Co., 1 Wall St. ♦Becker & Co., Incorporated, A. G., 54 Pine St. (Branch of A. G. Becker & Co., Chicago) BINGHAMTON ♦Bonbright & Co., George D. B., 97 Collier St. Bennett Bros. & Johnson, 1 Wall St. Bergen, John J., 40 Wall St. Blake Brothers & Company, 40 Wall St. ♦Blyth & Co., Inc., 14 Wall St. ♦Bodell & Co., 44 Wall St. ♦Boettcher & Company, Incorporated, 52 Wall St. Bonbright & Company, Incorporated, 25 Nassau St. ♦Bond & Goodwin, Inc., 63 Wall St. Bristol & Willett, 115 Broadway ♦Brown & Sons, Alex., 2 Wall St. Brown, Harriman & Co., Incorporated, 63 Wall St. ♦Bullock, Calvin, 1 Wall St. Burley & Company, 115 Broadway Burnet & Co., W. E., 11 Wall St. Burr & Company, Inc., 57 William St. ♦Byllesby and Company, H. M., Ill Broadway Callaway, Fish & Co., 15 Broad St. Campbell, Phelps & Co., Inc., 70 Pine St. Carroll & Co., John B., 70 Pine St. ♦Cassatt & Co., Incorporated, 40 Wall St. ♦Cavalier & Co., Wm., 40 Wall St. ♦Chandler & Company, Inc., 120 Broadway ♦Chaplin & Company, 52 Broadway Chase National Bank of the City of New York, The, 18 Pine St. Chemical Bank& Trust Company, 165 Broadway ♦Childs and Company, Inc., C. F., 1 Wall St. Childs, Jeffries & Thorndike, Inc., 50 Broadway Clark, Dodge & Co., 61 Wall St. Clarke & Co., Inc., Richard W., 50 Broadway ♦Coffin & Burr, Inc., 70 Pine St. Cohu Brothers, 24 Broad St. Compton & Co., Inc., William R., Ill Broadway Craigmyle, Marache & Co., 1 Wall St. ♦Daly and Craib, 49 Wall St. Darby & Co., Inc., 1 Wall St. ♦Day & Co., R. L„ 14 Wall St. Devine & Co., C. J., 48 Wall St. Dick & Merle-Smith, 30 Pine St. ♦Dickson & Company, R. S., 30 Broad St. Dillon, Read & Co., 28 Nassau St. Distributors Group, Incorporated, 63 Wall St. Dominick & Dominick, 115 Broadway ♦Dominion Securities Corporation, 40 Exchange PI. BUFFALO ♦Amott, Baker & Co., Inc., 298 Main St. ♦Blyth & Co., Inc., M & T Bldg. ♦Bonbright & Co., George D. B., M. & T. Bldg. ♦Brown Harriman & Co., Inc., Liberty Bank Bldg. Cleversley & Company, White Bldg. ♦Dominion Securities Corporation, M & T Bldg. ♦First Boston Corporation, The, Liberty Bank Bldg. Manufacturers and Traders Trust Company, 284 Main St. ♦Dougherty, Corkran & Co., Ill Broadway Downs & Co., Harry, 60 Wall Tower Doyle & Co., Charles E., 20 Pine St. Eastman, Dillon & Co., 15 Broad St. Eberstadt & Co., Inc., F., 39 Broadway Eldredge & Co., Inc., 40 Wall St. Emanuel & Co., 50 Pine St. ♦Equitable Securities Corporation, 40 Wall St. ♦Estabrook & Co., 40 Wall St. Evans, Stillman & Co., 14 Wall St. Fenner and Beane Corporation, 67 Broad St. TRENTON First National Company of Trenton, N. J., 148 W. State St. ♦Graham, Parsons & Co., Broad Street Bank Bldg. ♦Hemphill, Noyes & Co., Stacy-Trent Hotel. ♦Robinson, Miller & Co., Inc., 15 W. State St. NEW YORK New York Group ALBANY ♦Blyth & Co., Inc., 75 State St. ♦Brown Harriman & Co., Inc., Ten Eyck Bldg. Cooley & Co., George R., 100 State St. ♦Hemphill, Noyes & Co., Ten Eyck Bldg. ♦Kidder, Peabody & Co., 75 State St. ♦Manufacturers and Traders Trust Company, 142 State St. ♦Marks & Co., Laurence M., 75 State St. ♦Paine, Webber & Company, 90 State St. ♦Rollins & Sons, Inc., E. H., 75 State St. ♦Seligman & Co., J. & W., 75 State St. ♦Smith & Co., Edward B„ National Savings Bank Bldg. ♦Stone & Webster and Blodget, Inc., City Savings Bank Bldg. ♦Trask & Co., Spencer, State Bank Bldg. ♦Young & Company, Inc., F. J., 75 State St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Branch of The Dominion Securities Corporation Limited, Toronto) ♦BRANCH OFFICE Fenton & Company, Incorporated, F. R., Ill Broadway First Boston Corporation, The, 100 Broadway First National Bank of the City of New York, The, 2 Wall St. ♦First of Michigan Corporation, 1 Wall St. Foster & Co., Inc., 90 Broad St. Gary & Partners, Theodore, 21 E. 40th St. Gibbons & Company, Inc., Geo. B., 49 Wall St. Glidden Morris & Co., 72 Wall St. Glore, Forgan & Co., 38 Wall St. Goldman, Sachs & Co., 30 Pine St. Gonder, Kelley & Co., Inc., 56 Pine St. ♦Graham, Parsons & Co., 14 Wall St. Granbery, Safford & Co., 40 Wall St. Green, Ellis & Anderson, 100 Broadway Greene and Company, 37 Wall St. Guaranty Trust Company of New York, 140 Broadway Hallgarten & Co., 44 Pine St. Hamilton & Co., Geo. F., 20 Pine St. Hammons & Co., Incorporated, 120 Broadway Hannahs, Ballin & Lee, 111 Broadway Harriman & Keech, 11 Broadway Harris, Ayers & Co., Inc., 70 Pine St. ♦Harris, Hall & Co., 14 Wall St. Hatch & Co., Inc., Frederic H., 63 Wall St. Hayden, Stone & Co., 25 Broad St. Hegarty & Co., Inc., D. M. S., 120 Broadway Heller & Co., Inc., Herbert C., 30 Broad St. Hemphill, Noyes & Co., 15 Broad St. Herrick, Heinzelmann & Ripley, Inc., 52 William St. Hiltz & Co., Inc., 39 Broadway Hipkins & Topping, 1 Wall St. Hoit, Rose & Troster, 74 Trinity PI. Holsapple, Harvey & Co., 30 Pine St. ♦Hornblower & Weeks, 40 Wall St. ♦Hughes and Company, E. W., 1 Wall St. ♦Hutton & Company, W. E.t 14 Wall St. ♦Huyck and Company, A. S„ 42 Broadway Hynson & Co., Inc., J. N., 14 Wall St. ♦Jackson & Curtis, 115 Broadway ♦Janney & Co., 65 Broadway Jenks, Gwynne & Co., 65 Broadway Jones & Co., Chas. H., 20 Broad St. Kean, Taylor & Co., 14 Wall St. ♦Kelley, Richardson & Co., Inc., 40 Wall St. Keys & Co., C. M., 39 Broadway Kidder & Co., A. M„ 1 Wall St. Kidder, Peabody & Co., 17 Wall St. Additional office at 10 E. 45th St. Kuhn, Leob & Co., 52 William St. Ladenburg, Thalmann & Co., 25 Broad St. Lahey, Fargo & Co., 31 Nassau St. Lamport & Company, A. M., 44 Pine St. Lang & Co., F. P., 40 Wall St. Langley & Co., W. C., 115 Broadway Lazard Freres, 120 Broadway Lazard Freres & Company, Inc., 15 Nassau St. Lebenthal & Co., 135 Broadway Lee Higginson Corporation, 37 Broad St. Lehman Brothers, 1 William St. Lewisohn & Sons, Adolph, 61 Broadway ♦Lilley & Co., 44 Wall St. Lobdell & Company, 52 Wall St. Loeb & Company, Carl M., 61 Broadway Lord, Abbett & Co., Inc., 63 Wall St. ♦Mackubin, Legg & Company, 14 Wall St. Manufacturers and Traders Trust Company, 1 Wall St. Manufacturers Trust Company, 55 Broad St. ♦Marine Trust Company of Buffalo, The, 120 Broadway Marks & Co., Laurence M., 49 Wall St. ♦Massachusetts Distributors, Inc., 29 Broadway Masterson & Company, Frank C., 64 Wall St. ♦Mather & Company, Inc., Morris, 50 Broadway Maynard, Oakley & Lawrence, 61 Broadway ♦McCole, James A., Representative, The Anglo California National Bank of San Francisco, 2 Wall St. McDermott & Co., Peter P., 39 Broadway McDonnell & Co., 120 Broadway ♦Mellon Securities Corporation, 14 Wall St. ♦Mercantile-Commerce Bank and Trust Company, 14 Wall St. ♦Mericka & Co., Inc., Wm. J., 1 Wall St. Merrill, Lynch & Co., 40 Wall St. Minsch, Monell & Co., Inc., 115 Broadway ♦Mitchell, Hutchins & Co., 1 Wall St. Morgan & Co., J. P., 23 Wall St. Morgan Stanley & Co., Incorporated, 2 Wall St. Morris & Co., William, 44 Pine St. ♦Moseley & Co., F. S., 14 Wall St. ♦Moulton & Company, R. H., 50 Broadway Murphy & Co., G. M.-P., Ill Broadway National City Bank of New York, 55 Wall St. Neergaard, Miller & Co., 1 Wall St. Newman Bros. & Worms, 25 Broad St. New York Trust Company, The, 100 Broadway Nickerson & Co., Inc., John, 61 Broadway Novotny & Co., Inc., C. G., 30 Broad St. ♦O’Brian, Potter & Co., 40 Wall St. Ohrstrom & Co., Inc., G. L., 40 Wall St. ♦Otis & Co., 120 Broadway ♦Paine, Webber & Company, 25 Broad St. Pask & Walbridge, 1 Wall St. ♦Paul & Co., Inc., 52 Wall St. Phelps, Fenn & Co., 39 Broadway Pierce & Co., E. A., 40 Wall St. Additional office at 51 E. 42nd St. Pizzini & Co., B. W., 52 Broadway Pressprich & Co., R. W., 68 William St. ♦Reinholdt & Gardner, 11 Wall St. Reynolds & Co., 120 Broadway Riter & Co., 48 Wall St. Robinson, Miller & Co., Inc., 52 William St. Rogers & Company, Inc., Hartley, 14 Wall St. Rollins & Sons, Inc., E. H., 44 Wall St. Rothschild & Co., L. F., 120 Broadway Ryan & McManus, 39 Broadway MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA NEW YORK CITY—Continued Salomon Bros. & Hutzler, 60 Wall St. Saunders, Ashplant & Company, 2 Wall St. Schaumburg, Rebhann & Lynch, 52 William St. Schlater, Noyes & Gardner, Inc., 60 Broadway ♦Schoellkopf, Hutton & Pomeroy, Inc., 63 Wall St. Scholle Brothers, 40 Wall St. Schroder Rockefeller & Co., Inc., 48 Wall St. ♦Schwabacher & Co., Ill Broadway Seligman & Co., J. & W„ 54 Wall St. Shields & Company, 44 Wall St. Smith & Co., Edward B., 31 Nassau St. Additional office at 522 5th Ave. Smithers & Co., F. S., 15 Broad St. Speyer & Co., 24 Pine St. Starkweather & Co., Ill Broadway *Stein Bros & Boyce, 39 Broadway Stemmier & Co., 52 William St. ♦Stern and Company Incorporated, Lawrence, 40 Wall St. Stone & Webster and Blodget, Inc., 90 Broad St. ♦Stranahan, Harris & Company, Inc., 115 Broad way ♦Stroud & Company, Inc., 120 Broadway Swart, Brent & Co., Inc., 40 Exchange PI. Tobey & Co., 25 Broadway Trask & Co., Spencer, 25 Broad St. ♦Treman & Co., Arthur B., 26 Broadway ♦Tucker, Anthony & Co., 120 Broadway Van Alstyne, Noel & Co.. 52 Broadway ♦Van Deventer, Spear & Co., Inc., 61 Broadway Van Ingen & Co., Inc., B. J., 57 William St. ♦Wainwright & Co., H. C., 14 Wall St. ♦Walker & Co., G. H„ 1 Wall St. ♦Washburn & Company, Inc., 40 Wall St. ♦Watling, Lerchen & Hayes, 120 Broadway Watson & Co., Inc., Eli, T., 60 Wall St. Watson & White, 149 Broadway ♦Weed, Hall & Company, 40 Wall St. ♦Weeden & Co., 14 Wall St. ♦Weil, Roth & Irving Company, The, 74 Trinity PI. Wertheim & Co., 120 Broadway White & Company, Inc., J. G„ 37 Wall St. White, Weld & Co., 40 Wall St. Williams & Co., Clark, 160 Broadway ♦Willson & Co., James C., 39 Broadway Wilmerding & Co., 120 Broadway ♦Winthrop, Mitchell & Co., 26 Broadway ♦Witter & Co., Dean, 14 Wall St. ♦Wood, Gundy & Company, Inc., 14 Wall St. (Branch of Wood, Gundy & Company Limited, Toronto) Wood, Low & Co., 63 Wall St. Wood, Struthers & Co., 20 Pine St. ♦Wright & Co., Ed C„ 49 Wall St. Young & Company, Inc.. F. J., 52 Wall St. NORTH CAROLINA Southeastern Group CHARLOTTE American Trust Co., American Trust Bldg. ♦Burnett and Company, Inc., Oscar, Commercial Bank Bldg. Dickson & Company, R. S., Wilder Bldg. Interstate Securities Corporation, 200 S. Tryon DURHAM ♦Courts & Co., 212 N. Corcoran St. GREENSBORO Burnett and Company, Inc., Oscar, Security Bank Bldg. ♦Equitable Securities Corporation, Jefferson Bldg. Lewis and Hall, Inc., Jefferson Bldg. RALEIGH ♦Burnett and Company, Inc., Oscar, Security Bank Bldg. ♦Dickson & Company, R. S., Security Bank Bldg. Kirchofer & Arnold, Inc., Capital Club Bldg. WILSON Branch Banking & Trust Co., 124 Nash St. WINSTON-SALEM Wachovia Bank & Trust Company, Third & Main Sts. OHIO AKRON POUGHKEEPSIE ♦Eastman, Dillon & Co., 39 Market St. ROCHESTER Bonbright & Co., George D. B., Powers Bldg. Houck & Company, Inc., Albert A., LincolnAlliance Bank Bldg. ♦Lee Higginson Corporation, Lincoln-Alliance Bank Bldg. Little & Hopkins, Inc., 16 Main St., E. ♦Rothschild & Co., L. F., Lincoln-Alliance Bank Bldg. Sage, Rutty & Company, Inc., 183 Main St. E. ♦Schoellkopf, Hutton & Pomeroy, Inc., LincolnAlliance Bank Bldg. ♦Shields & Company, 23 Exchange St. ♦Stone & Webster and Blodget, Inc., LincolnAlliance Bank Bldg. ♦Tucker, Anthony & Co., 16 Main St., E. ♦Wood, Trubee & Co., Lincoln-Alliance Bank Bldg. SCHENECTADY ♦Murphy & Co., G. M.-P, 212 State St. SYRACUSE ♦Bancamerica-Blair Corporation, State Tower Bldg. ♦Brown Harriman & Co., Inc., Onondaga Bldg. ♦Herrick, Heinzelmann & Ripley, Inc., State Tower Bldg. ♦Lee Higginson Corporation, 206 Highland St. ♦Pressprich & Co., R. W., State Tower Bldg. ♦Seligman & Co., J. & W., State Tower Bldg. ♦Wood, Trubee & Co., State Tower Bldg. UTICA ♦Clarke & Company, H. Vaughan, Mayro Bldg. ♦Murphy & Co., G. M.-P., 236 Genesee St. ♦Treman & Co., Arthur B„ First National Bank Bldg. WATERTOWN ♦Treman & Co., Arthur B., Ill Stone St. WHITE PLAINS ♦Shields & Company, 31 Mamaroneck Ave. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cleveland Trust Company, The, 916 Euclid Ave. Curtiss, House & Company, Union Trust Bldg. Emerson & Co., Incorporated, N. L„ Union Trust Bldg. ♦Field, Richards & Shepard, Inc., Union Trust Bldg. ♦First Boston Corporation, The, Union Trust Bldg. First Cleveland Corporation, The, National City Bank Bldg. Gillis, Wood & Co., Union Trust Bldg. Hawley, Huller and Company, Union Trust Bldg. Hayden, Miller and Company, Union Trust Bldg. ♦Hornblower & Weeks, Union Trust Bldg. ♦Jackson & Curtis, Union Trust Bldg. Johnson, Kase & Co., 308 Euclid Ave. Joseph & Co., Inc., Union Trust Bldg. ♦Kidder, Peabody & Co., Terminal Tower Bldg. Kraus-Cunningham & Company, Union Trust Bldg. ♦Loeb & Company, Carl M., National City Bank Bldg. McDonald-Coolidge & Co., Williamson Bldg. Mericka & Co., Inc., Wm. J., 925 Euclid Ave. Merrill, Turben & Company, Union Trust Bldg. Mitchell, Herrick & Co., Cuyahoga Bldg. Murch and Company, Maynard H„ 925 Euclid Ave. Murfey, Blossom & Co., Guardian Bldg. National City Bank of Cleveland, The, E. Sixth St. at Euclid Ave. ♦Nelson, Browning & Co., Union Trust Bldg. Otis & Co., 216 Superior Ave., N. E. ♦Paine, Webber & Company, Terminal Tower Bldg. ♦Riter & Co., National City Bank Bldg. ♦Rollins & Sons, Inc., E. H., Union Trust Bldg. ♦Salomon Bros. & Hutzler, 925 Euclid Ave. Saunders, Stiver & Co., Terminal Tower Bldg. ♦Smith & Co., Edward B„ Union Trust Bldg. ♦Stifel, Nicolaus & Co., Inc., Cuyahoga Bldg. ♦Stranahan Harris & Company, Inc., Hippodrome Bldg. Wilkison, Fred F., Hippodrome Bldg. ♦Wood, Struthers & Co., Terminal Tower Bldg. Northern Ohio Group ♦Harriman & Keech, 106 S. Main St. ♦Jackson & Curtis, Ohio Bldg. ♦Mitchell, Herrick & Co., Akron Savings & Loan Bldg. ♦Murfey, Blossom & Co., First Central Trust Bldg. ♦Otis & Co., First Central Trust Bldg. CANTON Northern Ohio Group ♦Mitchell, Herrick & Co., Citizens Bldg. NORWICH ♦Wood, Trubee & Co., 20 S. Broad St. 1653 CINCINNATI Ohio Valley Group Assel, Goetz & Moerlein, Inc., Provident Bank Bldg. Aub & Co., A. E., Dixie Terminal Bldg. Ballinger & Co., Union Trust Bldg. ♦Bancohio Securities Company, First National Bldg. ♦Blyth & Co., Inc., Union Central Life Bldg. ♦Braun, Bosworth & Company, Union Central Bldg. Breed & Harrison, Inc., First National Bldg. Brockhaus & Co., Edward, Union Trust Bldg. ♦Brown Harriman & Co., Incorporated, Union Central Life Bldg. Central Trust Company, The, Fourth & Vine Sts. ♦Childs and Company, Inc., C. F., 105 W. Fourth St. Clancey & Co., W. P„ First National Bldg. ♦Dominick & Dominick, 414 Walnut St. Field, Richards & Shepard, Inc., Union Central Bldg. Fifth Third Union Trust Co., The, Fourth & Walnut Sts. ♦First Cleveland Corporation, The, Union Central Bldg. Hutton & Company, W. E., First National Bldg. ♦Joseph & Co., Inc., First National Bldg. Lincoln National Bank, Fourth & Vine Sts. Magnus & Company, Dixie Terminal Bldg. ♦McDonald-Coolidge & Co., Union Central Bldg. ♦Mitchell, Herrick & Co., Mercantile Library Bldg. Nelson, Browning & Co., Dixie Terminal Bldg. ♦Otis & Co., Mercantile Library Bldg. ♦Paine, Webber & Company, 414 Walnut St. Provident Savings Bank & Trust Company, The, Seventh & Vine Sts. Seasongood & Mayer, 6 E. Fourth St. ♦Stone & Webster and Blodget, Inc., Union Central Bldg. Van Lahr, Doll & Isphording, Inc., Provident Bank Bldg. Walter, Woody & Heimerdinger, 49 E. Fourth St. Weil, Roth & Irving Company, The, Dixie Terminal Bldg. COLUMBUS Ohio Valley Group ♦Ball, Coons & Company, 16 E. Broad St. Bancohio Securities Company, 51 N. High St. ♦First Cleveland Corporation, The, A. I. U. Bldg. ♦Mitchell, Herrick & Co., Citizens Bank Bldg. ♦Otis & Co., Huntington National Bank Bldg. ♦Paine, Webber & Company, 50 E. Broad St. Sweney, Inc., Lowry, 17 S. High St. DAYTON Ohio Valley Group ♦Dominick & Dominick, 42 N. Main St. Feight-Yager & Co., Inc., Gas & Electric Bldg. ♦Hutton & Company, W. E., Winters Bank Bldg. ♦Joseph & Co., Inc., Winters Bank Bldg. ♦McDonald-Coolidge & Co., Winters Bank Bldg. ♦Nelson, Browning & Company, Third National Bldg. SPRINGFIELD Ohio Valley Group ♦Mitchell, Herrick & Co., First National Bldg. TOLEDO Northern Ohio Group Braun. Bosworth & Company, Second National Bank Bldg. Collin, Norton & Co., 508-512 Madison Ave. ♦First Cleveland Corporation, The, Home Bank Bldg. ♦Mitchell, Herrick & Co., Second Natl. Bk. Bldg. ♦Otis & Co., Security Bank Bldg. Prudden & Company, Inc., Ohio Bldg. Ryan, Sutherland & Co., Ohio Bldg. Stranahan, Harris & Company, Inc., Ohio Bldg. OKLAHOMA Southwestern Group OKLAHOMA CITY ♦Brown-Crummer Investment Company, The, First National Bldg. Edwards, Inc., R. J., Hales Bldg. First National Bank and Trust Company, First National Bldg. Honnold, C. Edgar, 120 N. Robinson St. Taylor-Stuart Co., American Natl. Bldg. TULSA ♦Francis, Bro. & Co., Kennedy Bldg. CLEVELAND Northern Ohio Group Ball, Coons & Company, Union Trust Bldg. ♦Bancamerica-Blair Corporation,UnionTrust Bldg. ♦Bancohio Securities Company, Union Trust Bldg. ♦Blyth & Co., Inc., Union Trust Bldg. Borton, Bates & Co., Union Trust Bldg. ♦Brown Harriman & Co., Inc., Union Trust Bldg. ♦Bullock, Calvin, Williamson Bldg. Central National Bank, 308 Euclid Ave. ♦Childs and Company, Inc., C. F., Union Trust Bldg. ♦BRANCH OFFICE OREGON Pacific Northwest Group PORTLAND Adams & Co., E. M„ American Bank Bldg. Atkinson, Jones & Co., U. S. National Bank Bldg. Baker, Fordyce Co., U. S. National Bank Bldg. Blankenship, Gould & Keeler, Inc., Wilcox Bldg. ♦Blyth & Co., Inc., Pacific Bldg. Camp & Co., Inc., Porter Bldg. ♦Conrad, Bruce & Co„ 316 S. W. Sixth Ave. 1654 MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA PORTLAN D—Continued. ♦Ferris & Hardgrove, American Bank Bldg. First National Bank of Portland, Fifth & Stark Sts. Hemphill, Fenton & Campbell, Inc., Porter Bldg. Holt, Robbins & Werschkul, U. S. National Bank Bldg. Jaxtheimer & Company, Wilcox Bldg. ♦Rollins & Sons, Inc., E. H., U. S. National Bank Bldg. Warrens, Bosch & Floan, Porter Bldg. ♦Witter & Co., Dean, Porter Bldg. Wright & Co., Marshall, Porter Bldg. PENNSYLVANIA ALLENTOWN Eastern Pennsylvania Group ♦Eastman, Dillon & Co., Americus Hotel ♦Smith & Co., Edward B., Dime Trust Bldg. ALTOONA Western Pennsylvania Group ♦Hemphill, Noyes & Co., 11th Ave. & 12th St. BETHLEHEM Eastern Pennsylvania Group ♦Elkins, Morris & Co., Odd Fellows Bldg. ♦Rollins & Sons, Inc., E. H., Odd Fellows Bldg. EASTON Eastern Pennsylvania Group ♦Barney & Co., Chas. D., 7 Center Sq. ♦Clark & Co., E. W., First National Bank Bldg. ♦Lord, Abbett & Co., Inc., First National Bank Bldg. ♦Smith & Co., Edward B., First National Bldg. ERIE Western Pennsylvania Group ♦Shields & Company, Erie Trust Bldg. HARRISBURG Eastern Pennsylvania Group ♦Hemphill, Noyes & Co., Penn Harris Hotel ♦Jones & Co., Chas. H., State Theatre Bldg. ♦Rollins & Sons, Inc., E. H., State Theatre Bldg. LANCASTER Eastern Pennsylvania Group ♦Clark & Co., E. W., Fulton National Bldg. ♦Rollins & Sons, Inc., E. H., Fulton Bank Bldg. PHILADELPHIA Eastern Pennsylvania Group ♦Adams & Peck, 1500 Walnut St. ♦Allyn and Company, Inc., A. C., Packard Bldg. *Amott, Baker & Co., Incorporated, 1528 Walnut St. ♦Auchincloss, Parker & Redpath, 1421 Chestnut St. *Bancamerica-Blair Corporation, 225 S. Fifteenth St. ♦Bankers Trust Company, Packard Bldg. Barclay, Moore & Co., 123 S. Broad St. ♦Barney & Co., Chas. D„ 1428 Walnut St. Battles & Company, Inc., 1518 Locust St. Biddle, Whelen & Co., 1606 Walnut St. Bioren & Co., 1508 Walnut St. ♦Blyth & Co., Inc., 1500 Walnut St. ♦Brown Harriman & Co., Incorporated, 1529 Walnut St. ♦Bullock, Calvin, 1416 Chestnut St. Butcher & Sherrerd, Broad & Chestnut Sts. ♦Byllesby and Company, H. M., Stock Exchange Bldg. Cassatt & Co., Incorporated, South Penn Sq. Chandler & Company, Inc., 1500 Walnut St. ♦Childs and Company, Inc., C. F., 1400 S. Penn Sq. Clark & Co., E. W„ 1531 Locust St., Clarke & Company, H. Vaughan, 15th & Locust Sts. Collings and Company, C. C., 123 S. Broad St. Craig & Company, 1528 Walnut St. ♦Devine & Co., Inc., C. J., Fidelity-Philadelphia Trust Bldg. ♦Dominion Securities Corporation 220 S. Sixteenth St. Dougherty, Corkran & Co., 1421 Chestnut St. Drexel & Co., 15th & Walnut Sts. ♦Eastman, Dillon & Co., 1506 Walnut St. Elkins, Morris & Co., Land Title Bldg. ♦First Boston Corporation, The, 1616 Walnut St. ♦Foster & Co., Inc., Packard Bldg. Freeman & Co., Inc., M. M„ Packard Bldg. ♦Goldman, Sachs & Co., 1416 Chestnut St. Graham, Parsons & Co., 1422 Walnut St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ♦Granbery, Safford & Co., 1400 So. Penn Sq. Harper & Turner, Inc., Stock Exchange Bldg. Harrison & Co., 123 S. Broad St. ♦Hemphill, Noyes & Co., 123 S. Broad St. Hopper, Soliday & Co., 1420 Walnut St. ♦Hornblower & Weeks, 1429 Walnut St. ♦Hutton & Company, W. E„ 1529 Walnut St. Investment Registry of America, Inc., 1515 Locust St. ♦Jackson & Curtis, Philadelphia National Bank Bldg. Janney & Co., 1529 Walnut St. ♦Kidder, Peabody & Co., 1416 Chestnut St. Krauze, Barrows & Welsh, Land Title Bldg. ♦Lazard Freres & Company, Inc., Girard Trust Company Bldg. Lilley & Co., Packard Bldg. McMillan, Rapp & Company, 1420 Walnut St. Morgan & Co., Reed A., 16 S. Broad St. ♦Murphy & Co., G. M.-P., 123 S. Broad St. Newbold’s Son & Co., W. H., 1517 Locust St. ♦Ohrstrom & Co., Inc., G. L., 1500 Walnut St. ♦Paine, Webber & Company, Packard Bldg. Parsly Bros. & Co., Inc., 1500 Walnut St. Paul & Co., Inc., 1420 Walnut St. Peirce & Co., Frederick, 225 S. Fifteenth St. Phillips & Co., Samuel K., Packard Bldg. ♦Pressprich & Co., R. W., Girard Trust Company Bldg. ♦Reynolds & Co., 1500 Walnut St. ♦Riter & Co., 1529 Walnut St. ♦Rollins & Sons, Inc., E. H„ 1528 Walnut St. ♦Salomon Bros. & Hutzler, 123 So. Broad St. ♦Schoellkopf, Hutton & Pomeroy, Inc., 123 S. Broad St. ♦Shields & Company, 1418 Chestnut St. ♦Smith & Co., Edward B„ 1411 Chestnut St. ♦Starkweather & Co., Girard Trust Company Bldg. ♦Stone & Webster and Blodget, Inc., Packard Bldg. Stroud & Company, Inc., 1429 Walnut St. Suplee, Yeatman & Company, Inc., 220 S. Six teenth St. Swain & Company, Inc., Land Title Bldg. Thayer, Baker & Co., 16 S. Broad St. Tyson Company, Warren A., 1528 Walnut St. ♦Van Alstyne, Noel & Co., 1500 Walnut St. ♦Watson & Co., Inc., Eli T„ 1616 Walnut St. Wurts, Dulles & Co., 1416 Chestnut St. Yarnall & Co., 1528 Walnut St. ♦Young & Company, Inc., F. J., 1616 Walnut St. READING Eastern Pennsylvania Group ♦Brown Harriman & Co., Incorporated, 24 N. Fifth St. ♦Clark & Co., E. W„ 515 Penn St. ♦Eastman, Dillon & Co., Berkshire Hotel Bldg. ♦Graham, Parsons & Co., 605 Washington St. ♦Rollins & Sons, Inc., E. H., Berks County Trust Bldg. SCRANTON Eastern Pennsylvania Group ♦Cassatt & Co., Incorporated, First National Bldg ♦Green, Ellis & Anderson, 506 Spruce St. ♦Hallgarten & Co., First National Bldg. ♦Moseley & Co., F. S., First National Bank Bldg. ♦Reynolds & Co., 516 Spruce St. ♦Rollins & Sons, Inc., E. H., First National Bldg. ♦Smith & Co., Edward B„ First National Bldg. SHARON Western Pennsylvania Group ♦Grubbs, Scott & Company, First National Bank Bldg. SUNBURY Drass & Co., J. H., 231 Market St. WILKES-BARRE Eastern Pennsylvania Group ♦Auchincloss, Parker & Redpath, Miners National Bank Bldg. ♦Green, Ellis & Anderson, Miners National Bank Bldg. ♦Lord, Abbett & Co., Inc., Miners Bank Bldg. ♦Rollins & Sons, Inc., E. H„ Second National Bank Bldg. ♦Swain & Company, Inc., Brooks Bldg. WILLIAMSPORT Eastern Pennsylvania Group ♦Rollins & Sons, Inc., E. H., Susquehanna Trust Bldg. YORK PITTSBURGH Eastern Pennsylvania Group Western Pennsylvania Group Adams Company, Charles H., Peoples Bank Bldg. ♦Allyn & Co., Inc., A. C„ Union Trust Bldg. Applegate, Geo. G., Commonwealth Bldg. Arthur & Guy, Inc., Union Bank Bldg. Bear & Company, S. Lee, Union Trust Bldg. ♦Blyth & Co., Inc., Union Trust Bldg. ♦Brown Harriman & Co., Incorporated, Union Trust Bldg. ♦Byllesby and Company, H. M., Union Trust Bldg. ♦Cassatt & Co., Incorporated, Union Trust Bldg. Chaplin & Company, 419 Wood St. ♦Childs and Company, Inc., C. F„ 439 Fifth Ave. Cunningham & Co., Inc., S. K., Commonwealth Bldg. ♦Dominick & Dominick, 316 Fourth Ave. ♦Emanuel & Co., Gulf Bldg. Farmers Deposit National Bank, Fifth Ave. & Wood St. ♦First Boston Corporation, The, Farmers Bank Bldg. First National Bank at Pittsburgg, Fifth Ave. & Wood St. Glover & MacGregor, Inc., Oliver Bldg. ♦Graham, Parsons & Co., Union Trust Bldg. ♦Granbery, Salford & Co., Union Bank Bldg. ♦Green, Ellis & Anderson, Commonwealth Bldg. Grubbs, Scott & Company, Union Trust Bldg. ♦Hemphill, Noyes & Co., First National Bank Bldg. ♦Janney & Co., Oliver Bldg. Kay, Richards & Company, Union Bank Bldg. ♦Loeb & Company, Carl M., 541 Grant St. ♦Mackubin, Legg & Co., Union Trust Bldg. Masten & Company, A. E., First National Bank Bldg. McJunkin, Patton & Company, Commonwealth Bldg. Mellon Securities Corporation, 525 William Penn PI. Moore, Leonard & Lynch, Union Trust Bldg. ♦Moseley & Co., F. S., First National Bank Bldg. ♦Otis & Co., Union Trust Bldg. Peoples-Pittsburgh Trust Co., 4th Ave. and Wood St. Phillips, Schmertz and Company, Union Trust Bldg. ♦Rollins & Sons, Inc., E. H., Grant Bldg. Scott & Company, James H., Union Trust Bldg. Singer, Deane & Scribner, Union Trust Bldg. ♦Smith & Co., Edward B., Gulf Bldg. ♦Swart, Brent & Co., Inc., Union Trust Bldg. Union Trust Company of Pittsburgh, The, Union Trust Bldg. ♦Wainwright & Co., H. C„ Union Trust Bldg. Ward & Co., Norman, Grant Bldg. ♦Watson & Co., Inc., Eli T., Union Trust Bldg. Young & Co., Inc., People Bank Bldg. ♦Clark & Co., E. W„ 22 S. George St. ♦Stein Bros. & Boyce, 31 Market St. RHODE ISLAND New England Group NEWPORT ♦Murphy & Co., G. M.-P., 33 Bellevue Ave. PROVIDENCE ♦Blyth & Co., Inc., Ill Westminster St. Bodell & Co., 32 Custom House St. ♦Brown Harriman & Co., Inc., Hospital Trust Bldg. ♦Estabrook & Co., 15 Westminster St. ♦Faxon & Co., Inc., Union Trust Bldg. ♦First Boston Corporation, The, Hospital Trust Bldg. ♦Harriman & Keech, 15 Westminster St. ♦Hornblower & Weeks, 10 Weybosset St. ♦Jackson & Curtis, Hospital Trust Bldg. ♦Kidder, Peabody & Co., 10 Weybosset St. MacColl, Fraser & Wheeler, Hospital Trust Bldg. Miller & George, Hospital Trust Bldg. ♦Murphy & Co., G. M.-P., Hospital Trust Bldg. ♦Paine, Webber & Company, Hospital Trust Bldg. ♦Perry & Co., Inc., Arthur, Hospital Trust Bldg. ♦Putnam & Company, Inc., F. L., Hospital Trust Bldg. ♦Rollins & Sons, Inc., E. H., Turks Head Bldg. ♦Stone & Webster and Blodget, Inc., Turks Head Bldg. ♦Whiting, Weeks & Knowles, Incorporated, Hospital Trust Bldg. SOUTH CAROLINA Southeastern Group CHARLESTON Frost, Read & Co., 21 Broad St. Kinloch, Huger & Company, 26 Broad St. COLUMBIA Crawford Co., Inc., G. H., Central Union Bldg. ♦Dickson & Company, R. S., Central Union Bldg. SPARTANBURG Law & Company, A. M., Andrews Bldg. TENNESSEE CHATTANOOGA POTTSVILLE Eastern Pennsylvania Group ♦Rollins & Sons, Inc., E. H„ Schuylkill Bldg. ♦BRANCH OFFICE Southern Group ♦Equitable Bldg. Securities Corporation, Provident MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA KNOXVILLE Southern Group ♦Cumberland Securities Corporation, Hamilton National Bank Bldg. ♦Equitable Securities Corporation, Hamilton National Bank Bldg. MEMPHIS Mississippi Valley Group ♦Equitable Securities Corporation, Union and Planters Bank Bldg. First National Bank of Memphis, 127 Madison Ave. Union Planters National Bank & Trust Company, 69 Madison Ave. NASHVILLE Southern Group Bass & Company, Jack M., 331 Union St. Cumberland Securities Corporation, 400 Union St. Equitable Securities Corporation, 404 Union St. Nunn, Shwab & Co., Nashville Trust Bldg. Robinson, Webster & Gibson, Stahlman Bldg. TEXAS Texas Group DALLAS Beckett, Gilbert & Company, Inc., First National Bank Bldg. ♦Brown-Crummer Investment Company, The, Kirby Bldg. Callihan & Jackson, Republic Bank Bldg. Dallas Union Trust Company, Dallas Bank & Trust Bldg. ♦Dunne-Israel Co., The, Gulf States Bldg. First National Bank in Dallas, 1401 Main St. Garrett & Co., Inc., First National Bank Bldg. Investment Service Corporation of Texas, Wilson Bldg. James, Stayart & Davis, Inc., First National Bank Bldg. ♦Mahan, Dittmar & Company, Dallas Bank & Trust Bldg. Miller, Moore & Brown, Inc., Republic Bank Bldg. O’Neil & Company, Donald, Republic Bank Bldg. Rauscher, Pierce & Co., Magnolia Bldg. Walker, Austin & Waggener, Republic Bank Bldg. FORT WORTH ♦Dallas Union Trust Company, Fort Worth National Bank Bldg. Edwards & Co., William N., First National Bank Bldg. Fort Worth National Bank, The, Seventh & Main Sts. GALVESTON Mosle and Moreland, J. L., Anico Bldg. HOUSTON Aves and Wymer, Inc., San Jacinto National Bank Bldg. ♦Brown-Crummer Investment Company, Second National Bank Bldg. Dillingham & McClung, First National Bank Bldg. Duquette & Co., Second National Bank Bldg. ♦Fenner and Beane Corporation, Gulf Bldg. Gregory-Eddleman Company, First National Bank Bldg. ♦Mahan, Dittmar & Company, Second National Bank Bldg. Neuhaus & Co., Union National Bldg. ♦Rauscher, Pierce & Co., Inc., Second National Bank Bldg. Rotan Co., George V., Esperson Bldg. Snyder and Company, A. W„ San Jacinto Bank Bldg. Underwood & Co., Milton R., Gulf Bldg. White & Co., Chas. B., Second Natl. Bk. Bldg. SAN ANTONIO ♦Brown-Crummer Investment Company, The, Smith Young Tower Dewar, Robertson & Pancoast, National Bank of Commerce Bldg. Ewing Co., Inc., W. K., 130 W. Commerce St. Fitch & Co., W. P., Alamo National Bank Bldg. Mahan, Dittmar & Company, South Texas Bank Bldg. ♦Rauscher, Pierce & Co., Inc., Milam Bldg. Russ, Roe & Company, Frost National Bank Bldg. UTAH Rocky Mountain Group SALT LAKE CITY ♦Blyth & Co., Inc., Kearns Bldg. Burton & Company, Edward L., 160 S. Main St. First Security Trust Co., Main at Exchange PI. Hogle & Co., J. A., 132 Main St. VERMONT New England Group BURLINGTON ♦Jenks, Gwynne & Co., 162 College St. VIRGINIA Southeastern Group CHARLOTTESVILLE ♦Barney & Co., Chas. D., Second & Market Sts. Peoples National Bank, The, Main St. 87 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LYNCHBURG Scott, Horner & Mason, Inc., Law Bldg. NORFOLK Investment Corporation of Norfolk, 215 E. Plume St. RICHMOND Davenport & Co., 1113 E. Main St. Mason-Hagan, Inc., 916 E. Main St. Richmond Corporation, The, 726 E. Main St. Scott & Stringfellow, Mutual Bldg. 1655 OSHKOSH ♦Securities Company of Milwaukee Inc., The, First National Bank Bldg. ♦Shield & Company, First National Bank Bldg. RACINE ♦Shields & Company, Arcade Bldg. CANADA BRITISH COLUMBIA Pacific Northwest Group WASHINGTON Pacific Northwest Group ABERDEEN ♦Ferris & Hardgrove, 113 Wishkah St. BELLINGHAM ♦Ferris & Hardgrove, 1216 Cornwall Ave. EVERETT ♦Ferris & Hardgrove, 2925 Colby Ave. SEATTLE ♦Blyth & Co., Inc., 1411 Fourth Ave. Bramhall & Stein, Hoge Bldg. ♦Conrad, Bruce & Co., 1411 Fourth Ave. Drumheller, Ehrlichman & White, Exchange Bldg. ♦Ferris & Hardgrove, Exchange Bldg. Grande, Stolle & Co., Hoge Bldg. Harper & Son & Company, Wm. P., Hoge Bldg. Hemphill Inc., Waldo, 1411 Fourth Ave. Hugh banks Incorporated .Dexter Horton Bldg. Huston & Co., Harold H., Hoge Bldg. Main & Co., George E„ Dexter Horton Bldg. Marine National Company, 1100 Second Ave. Mclnnis, Van Dusen & Co., Hoge Bldg. Pacific National Bank of Seattle, The, Second Ave. at Madison St. Patten, Eyman & Company, Exchange Bldg. ♦Rogers & Company, Hartley (of Washington), 1411 Fourth Ave. (Branch of Hartley Rogers & Company, Inc., Los Angeles) Seattle-First National Bank, Second Ave. & Columbia St. Seattle Trust and Savings Bank, 804 Second Ave. ♦Witter & Co., Dean, Cobb Bldg. SPOKANE ♦Blyth & Co., Inc., Old National Bldg. Ferris & Hardgrove, 425 Riverside Ave. Murphey, Favre & Co., Spokane and EasternBldg. Nelson and Company, Arthur E., Paulsen Bldg. Paine-Rice & Company, Old National Bldg. Richards & Blum, Inc., 101 N. Wall St. Spokane and Eastern Branch of Seattle-First National Bank, 601 Riverside Ave. Stolle, Baker & Co., Inc., Old National Bldg. TACOMA ♦Conrad, Bruce & Co., Washington Bldg. Ferris & Hardgrove, W. R. Rust Bldg. ♦Witter & Co., Dean, Washington Bldg. WALLA WALLA ♦Ferris & Hardgrove, Marcus Whitman Bldg. YAKIMA ♦Ferris & Hardgrove, 4 N. Second St. VANCOUVER ♦Ames & Co., Limited, A. E., Royal Trust Bldg. ♦Dominion Securities Corporation Limited, 510 Hastings St. ,W. ♦Wood, Gundy & Company Limited, 740 Hastings St., W. VICTORIA ♦Ames & Co., Limited, A. E., 310 Belmont House MANITOBA Canadian Group WINNIPEG ♦Ames & Co., Limited, A. E., Hamilton Bldg. ♦Bell, Gouinlock & Gillespie, Ltd., Lombard Bldg. (Branch of Bell, Gouinlock & Co., Ltd., Toronto) ♦Dominion Securities Corporation Limited, Union Trust Bldg. ♦Mills, Spence & Co., Ltd., Lombard Bldg. ♦Wood, Gundy & Company Limited, Victory Bldg. ONTARIO Canadian Group HAMILTON ♦McLeod, Young, Weir & Co., Ltd., Spectator Bldg. ♦Mills, Spence & Co., Ltd., Sun Life Bldg. ♦Wood, Gundy & Company Limited, 1 Main St., E. LONDON ♦McLeod, Young, Weir & Co., Ltd., Richmond Bldg. Midland Securities Corp., Ltd., Huron & Erie Bldg. OTTAWA ♦Ames & Co., Limited, A. E., 140 Wellington St. ♦Greenshields & Company, Inc., 140 Wellington St. ♦Hanson Bros. Incorporated, 56 Sparks St. ♦McLeod, Young, Weir & Co., Ltd., Ottawa Electric Bldg. ♦Wood, Gundy & Company Limited, Victoria Bldg. TORONTO Ames & Co., Limited, A. E., 320 Bay St. Bartlett, Cayley and Company Limited, 320 Bay St. Bell, Gouinlock & Co., Ltd., 25 King St, W ♦Collier, Norris & Henderson, Limited, 320 Bay St. Dominion Securities Corporation Limited, 15 King St., W. Gairdner & Company Limited, 320 Bay St. ♦Greenshields & Company, Inc., 25 King St., W. ♦Hanson Bros, Incorporated, 330 Bay St. ♦Jenks, Gwynne & Co., 320 Bay St. McLeod, Young, Weir & Co., Ltd., Metropolitan Bldg. ♦Midland Securities Corp., Ltd., Dominion Bank Bldg. Mills, Spence & Co., Ltd., 25 King St., W Wood, Gundy & Company Limited, 36 King St., W. WEST VIRGINIA QUEBEC Southeastern Group Canadian Group WHEELING ♦Masten & Company, A. E., Central Union Bldg. MONTREAL ♦Aldred & Co., Ltd., 507 Place d’Armes (Branch of Aldred & Co., New York) WISCONSIN Central States Group MADISON ♦Securities Company of Milwaukee Inc., The, First Central Bldg. ♦Shield & Company, First Central Bldg. MILWAUKEE ♦Allyn and Company, Inc., A. C., 735 No. Water St. ♦Becker & Co., A. G., First Wisconsin National Bldg. Bingham, Sheldon & Co., 735 N. Water St. ♦Central Republic Company, First Wisconsin National Bldg. Edgar, Ricker & Co., 750 N. Water St. Fox & Co., Morris F„ 753 N. Water St. Marshall & Ilsley Bank, 721 N. Water St. Milwaukee Company, The, 135 W. Wells St. ♦Paine, Webber & Company, 605 N. Broadway ♦Riter & Co., Title Guaranty Bldg. ♦Rollins & Sons, Inc., E. H., First Wisconsin National Bldg. Securities Company of Milwaukee Inc., The, 110 E. Wisconsin Ave. ♦Shield & Company, 740 N. Water St. ♦Straus Securities Corporation, 710 N. Water St. ♦BRANCH OFFICE ♦Ames & Co., Limited, A. E., 360 St. James St., W. Bank of Montreal, Head Office, 119 St. James St., W. ♦Bell, Gouinlock & Co., Ltd., Royal Bank Bldg. ♦Bullock, Ltd., Calvin, Aldred Bldg. (Branch of Calvin Bullock, Jersey City) Collier, Norris & Henderson, Limited, Aldred Bldg. ♦Dominick Corporation of Canada, 360 St. James St., W. (Branch of Dominick & Dominick, New York) ♦Dominion Securities Corporation Limited, 275 St. James St., W. ♦Gairdner & Company Limited, 360 St. James St., W. Greenshields & Company, Inc., 507 Place d’ Armes Hanson Bros. Incorporated, 255 St. James St., W. ♦Jenks, Gwynne & Co., 388 St. James St., W. ♦McLeod, Young, Weir & Co., Ltd., 231 St. James St., W. ♦Mills, Spence & Co., Ltd., 507 Place d’Armes Royal Bank of Canada, The, 360 St. James St., W. ♦Wood, Gundy & Company, Limited, 360 St. James St., W. QUEBEC ♦Greenshields & Company, Inc., 105 Mountain Hill SHERBROOKE ♦Greenshields & Company, Inc., Sun Life Bldg. The Blue Book Representative Is A Travelled Banker ship, built up through 65 years of service to the whole banking field and maintained by daily correspondence and daily personal contact with progressive bankers from coast to coast. The Blue Book representative who calls upon your bank has been meticulously chosen. He is a courteous, efficient, thoroughly seasoned bank man. His training and background qualify him to understand banking developments Counsel with the Blue Book man in charge of your territory. He is in daily touch with your regional opportunities and can help you realize all of your Rand M?Nally Bankers Directory service. in hundreds of localities and to make that understanding useful to your bank. Behind him at all times is Rand M?Nally & Company’s national banking acquaintance The Blue Book Offers: A standard priced publicity investment. No “favors” or “spe cial concessions A chance to reach without duplication, every directory user among the banks, in vestment houses and commercial firms of America. A standardized prod uct published reliable house. by a • The most accurate, complete and up-todate bank informa tion it is possible to obtain. A manual of bank ing laws, banking authorities, banking facts and banking personalities. RAND M'NALLY BANKERS DIRECTORY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1656 STOCK EXCHANGE MEMBERS 1657 CALIFORNIA LOS ANGELES STOCK EXCHANGE 618 So. Spring St. OFFICERS: McClarty Harbison, President; Norman A. Tulk, 1st Vice-President; S. H. Ellis, Jr., 2nd Vice-President; Harry B. Brooks, Treasurer; W. Q. Paul, Exec. Secretary; James W. Elliott, Managing Secretary; Inez Vermillion, Assistant Secretary MINIMUM KATES OF COMMISSION In Effect November 1, 1935 (Cancelling previous schedules) SCHEDULE “V” Minimum rates of commission as follows shall apply to stocks other than bank stocks, mining stocks, stocks listed on the New York Stock and/or the New York Curb Exchanges and also listed on the Los Angeles Stock Exchange. Odd Lots Per 100 (per share) Minimum Shares Oa Stocks Selling $2.50 Under 25c, $2.50 per 1,000 shares. 2.60 .50___ .$ 1.00 At $ .25 and under $ 2.50 2.00 .75....... . At .50 and under 2.50 .04 3.00 1.00....... . At .75 and under 2.50 .05 4.00 3.00....... _ At 1.00 and under 2.50 .10 7.50 5.00....... _ At 3.00 and under 2.50 .12^ At 5.00 and under 10.00....... . 10.00 2.50 .25 At 10.00 and under 25.00....... . 17.50 2.50 .25 At 25.00 and under 50.00___ . 20.00 .25 2.50 At 50.00 and under 75.00___ _ 22.50 2.50 .25 At 75.00 and under 100.00....... . 25.00 3.00 .30 At 100.00 and under 200.00....... . 30.00 At $200.00 and over per share, the commission shall be Increased $5.00 per 100 shares additional for each $50.00 or fraction thereof increase in selling price. The minimum charge shall be one-tenth (l/10th) the com mission charged for 100 shares. The commission on odd lots shall be on the pro rate basis. COMMISSION RULES: On transactions where the total amount of money involved is $10.00 or less, the commission charge shall be optional. In billing less than board lots the commission shall in no case be greater than that which is designated for the transaction involving a board lot. Commission charges on orders in excess of Board Lots shall be as follows: When an order is executed for a number of shares involving a round lot of 100 shares and an odd lot of, say 30 shares, the commission to be charged is the usual rate for the round lot and pro rata for the odd lot, provided the order is executed in its entirety. However, when a customer enters on order to sell 130 shares at a limit and the broker executes the order within the limit for 100 shares and there remain 30 shares which is thereafter converted by the customer into a market order, members are required to treat the 30 shares as an odd lot and cnarge the odd lot commission and may not charge pro rata of the round lot rate. In any case when a customer changes his limit the unfilled balance of the order must be treated as a new order. Members shall charge customers insurance and postage in connection with ALL transaction OUTSIDE of Los Angeles. PENALTY for violation of the above rates is suspension and fine, or expulsion from the Exchange. NOTE: Exception rates are allowed on Stocks listed on both the New York Stock and the New York Curb Exchanges, bank stocks and mining stocks may be had on application to the Los Angeles Stock Exchange. MEMBERS Adams-Chadwick Co., 650 S. Spring St. Adams, Thomas E. & Co., 650 S. Spring St. Akln-Lambert Co., 639 S. Spring St. Anderson, Barbour & Smith, 634 S. Spring St. Bacon & Co., 256 Montgomery St., San Francisco. Bankamerica Co., 650 S. Spring St. Banks, Huntley & Co., 634 S. Spring St. Barnes, MacDonald & Company, 210 W. 7th St. Bateman, Eichler & Co., 453 S. Spring St. Battson, Barnes, Lester, Inc., 621 S. Spring St. Bnyly Brothers, Inc. of California, 727 West 7th St. Bennett, Richards & Hill, 621 S. Spring St. Boothe, Gillette & Co., 634 S. Spring St. Brashears, G. & Co., 510 S. Spring St. •Casamajor & Doty, 619 E. Colorado St.,’.Pasa dena. Cass Associates, Quincy, 530 W. 6th St. Cavalier, Wm. & Co.. 523.W. 6th St. Cook, Miller & Co., Inc., 215 W. 6th St. Crisler, L. A. & Co., 639 S. Spring St. Crowell, Weedon & Co., 650 S. Spring St. Dobbs-Crowe, Wagenseller & Durst, 626 S. Spring St. Dunk-Harbison Co., 634 S. Spring St. Edgerton, Riley & Walter, 621 S. Spring St. Ellis, S. H., Inc., 639 S. Spring St. Fastnow, William C., 215 W. 7th St. Friedlander & Speth, Inc., 650 S. Spring St. GRANT, D. G. COMPANY, Room 415, 453 S. Spring St. Graves, Banning & Co., 629 S. Spring St. ♦Greenwood & Co., 6253 Hollywood Blvd., Hollywood. Gregory, R. N. & Co., 210 W. 7th St. ♦Hall, Frank H., 351 S. Hill Ave., Pasadena. Harris, F. E„ 650 S. Spring St. Harris, F. E. & Co., 650 S. Spring St. Hay, Earl G., 650 S. Spring St. Hill, D. A., & Co., 215 W. 7th St. ♦Hogle, J. A., & Co., 532 W. 6th St. Hopkins, Hughey & Anderson, 609 S. Grand Ave. Hurry, Hilgers, Co., 530 W. 6th St. Hutton, E. F. & Co., 623 S. Spring St. Kerr, J. D. & Co., 629 S. Spring St. ♦Knight, Jno. 0., 2177 W. 24th St. Laswell & Co., 609 S. Grand Ave. Lewis, M. H. & Co., 453 S. Spring St. Longan, Dunn & Co., 621 S. Spring St. Lopez & Co., 639 S. Spring St. MacLaughlin, Leo G„ Co., 54 S. Los Robles Ave., Pasadena. Marache, Paul J. & Co., 650 S. Spring St. Martin, James R. & Co., 647 S. Spring St. Miller & Co., Revel, 650 S. Spring St. Mitchum, Tully & Co., 650 S. Spring St. Morlan, Malcolm F„ 215 W. 7th St. Morris & Co., A. W„ 325 W. 8th St. ♦Newland, E. H. & Co., 639 S. Spring St. Pacific Company of California, 623 South Hope St. Page, Hubbard & Asche, 210 W. 7th St. Paul & Jones, 215 W. 6th St. Rath, Howard G. Co., 523 W. 6th St. W. N. Reagan Co., 124 E. First St., Long Beach. Rogers & Co., Inc., Hartley, 210 W. 7th St. Rutland, Edwards & Co., Inc., 609 So. Grand Ave. Sattler, Joseph, 215 W. 7th St. Searl-Merrick Company, 634 S. Spring St. STAATS, WM. R. CO., 640 South Spring St. Sutro & Company, 210 W. 7th St. Thomas-Seidel & Co., 458 S. Spring St. Tulk & Co., 325 W. 8th St. Vedder & Co., Clyde, 6253 Hollywood Blvd., Hollywood, Calif. Walker, M. S„ & Co., 125 E. First St., Long Beach. Wilke, Fred L„ 530 W. Sixth St. Young-Clarke & Co., 215 W. 7th St. (Associate members *) Further Information on firms appearing In bold face type will be found in the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1658 SAN FRANCISCO STOCK EXCHANGE (Board Room: 155 Sansome St.) Officers: F. C. Shaughnessy, President; Gustav Epstein, Vice-President; Ruth Kapelsky, Secretary. The Anglo California National Bank, San Francisco, Treasurer. MINIMUM KATES OF COMMISSION—In Effect April 28, 1930 On Stocks Selling t Under $1.00 per share Minimum Charge ___ $ 3.00 per 100 shares..$2.50 (Odd lots 12^c per share) per....... share.$ 4.00 per 100 8kares..$2.60 (Odd lots 12^c per share) At $ 1.00 and nnder $ 3.00 At $ $.00 and under $ 5.00 per share........ $ 7.50 per 100 shares..$2.50 (Odd lots 12^c per share) At $ 5.00 and under $ 10.00 per share........ $10.00 per 100 shares..$2.50 (Odd lots 12)4c per share) At $ 10.00 and under $ 25.00 per share........ $17.50 per 100 shares..$2.50 (Odd lots 25c per share) At $ 25.00 and under $ 50.00 per share. ...$20.00 per 100 shares. .$2.50 (Odd lots 25c per share) At $ 50.00 and under $ 75.00 per share. ...$22.50 per 100 shares..$2.50 (Odd lots 25c per share) BONDS Minimum Charge Up to $125.00, $10,000 lots_______$25.00 per $10,000 par value..$2.50 (Odd lots pro rata) At $125.00 and over rates for stocks apply (except that an odd lot is less than $10,000 par value) NOTE: Whenever the commission charge based on the odd lot rate is higher than a charge for a round lot (100 shares) of the same stock, the latter amount may be charged. On all transactions where the total amount of money involved is less than $50.00, but not less than $10.00, the commission charge shall be discretionary with the member, subject to a minimum charge of $2.50 for each transaction. When the amount involved is less than $10.00 the commission charge shall be entirely discretionary. Orders executed locally in stocks listed on the New York Stock Exchange or the New York Curb Exchange shall take the established New YorkWestern rates for such stocks which differ from the above schedule only in the round lot rates as follows: On New York Stock Exchange stocks: At $ .50 per share and under $1.00 per share............$ 5.00 per 100 shares At $1.00 per share and under $5.00 per share............$10.00 per 100 shares At $ 75.00 and under $100.00 per share. ...$25.00 per 100 shares.. $2.50 (Odd lots 25c per share) On New York Curb Exchange Stocks: At $1.00 per share and under $3.00 per share............ $ 7.50 per 100 shares At $100.00 and under $200.00 per share. ...$30.00 per 100 shares..$3.00 (Odd lots 30c per share) *On all shipments of securities for customers (or incident to customers’ purchases or sales), whether eastbound or westbound, insurance and postage shall be charged to all customers at the following rates: At $200.00 and over per share, the commission shall be Increased $5.00 per 100 shares additional for each $50.00 or fraction thereof increase in selling price. The commission on odd lots shall be on a pro rata basis. The minimum charge shall be l/10th the commission charged for 100 shares. REGULAR MAIL (RAIL): 15c per $1,000 of market value on nonnegotiable securities with a minimum charge of 30c; 20c per $1,000 of market value on negotiable securities with a minimum charge of 45c. AIR MAIL: 30c per $1,000 of market value on non-negotiable securities with a minimum charge of 50c; 50c per $1,000 of market value on negotiable securities with a minimum charge of 75c. If a member accounts to a customer for several orders involving one shipment, the total proceeds may be added and the insurance and postage charges may be made on the total proceeds at the rates above specified. t In no case need the commission on rights selling under fifty cents exceed live per cent of the money involved in the trade. *As amended April 15, 1936. MEMBERS Adams & Co., W. W. Adams, W. W. & Co., 465 California St. Alanson, Bertram E„ 486 California St. Alanson Bros. & Co., 486 California St. ♦American Brokerage, Inc., 406 Montgomery St. Atkinson, Douglas G., 50 Post St. Bacon & Co., 256 Montgomery St. Bacon, Wm. R., 256 Montgomery St. ♦Bankamerica Company, 485 California Street Barth, J. & Co., 482 California St. Berl, Edwin D„ 256 Montgomery St. Bolton, Robert C., & Co., 486 California St. Brayton, Harold, 50 Post St. Bremer, Milton A., 256 Montgomery St. Brown, Austin, 45 Montgomery St. H. H. Buchanan & Co., 15 E. Santa Clara St., San Jose, Calif, and 50 Post St., San’Francisco. Cavalier, Wm. & Co., 121 Sutter St. Clayburgh, Herbert E., 482 California St. Coleman, Jr., Robert L„ 133 Montgomery St. Curran, Hooker & Fay, 155 Sansome St. Davies & Co., 300 Standard Oil Bldg. Davis,• Skaggs & Co., 211 Montgomery St. Dickey & Co., 216 Montgomery St. Douglass, Earl S„ 317 Montgomery St. Dunn, Frank M., 232 Montgomery St. Dwyer, Frank M., 155 Sansome St. Dwyer & Parrish, 155 Sansome St. Eastland & Co., 1 Montgomery St. Ede, Jr., William, 569 Russ Bldg. Ehrman, Albert L., 519 California St. Ehrman, Jr., Alexis L., 133 Montgomery St. •Elworthy & Co., Ill Sutter St. Epstein, Gustav, 482 California St. Fay, Jr., Charles W„ 155 Sansome St. Fisher & Co., 351 Montgomery St. Frankenheimer, B. J., Ill Sutter St. Greene, Howard J., 407 Montgomery St. Greenwood, G. M., 1501 Russ Bldg. Greenwood-Raggio & Co., 1501 Russ Bldg. Grimes, Thornton E., 490 California St. Grimes & Swift, 490 California St. Heintz, Geo. A., 351 Montgomery St. Heilman, R. H„ 517 California St. Hellmann-Wade & Co., 517 California St. Hendrickson, Alfred D„ 155 Sansome St. Hendrickson, Shuman & Co., 155 Sansome St. Heron, Donald, 604 Kohl Bldg. Hoelscher, Sherman, 2801 Russ Bldg. Holt & Ede, 569 Russ Bldg. Hooker, John R., 155 Sansome St. Howell, Douglass & Co., 317 Montgomery St. Howell, James B., 317 Montgomery St. Jacobsen, Rudolph E., 486 California St. Jenkins, Reginald C„ 225 Montgomery St. Johnson, Cyrus B„ 155 Sansome St. Johnson, Frederic H., 1543 Russ Bldg. Kahn, Sidney P., 482 California St. Keyston & Co., 50 Post St. Keyston F. B. Co., 50 Post St. Keyston, George N„ 50 Post St. Koshland, Max I., Suite 12, Mills Bldg. Koshland, Max I. & Co., Suite 12, Mills Bldg. Leib, O’Connor & Co., 3014 Russ Bldg. Lilienthal, M. P., 1204 Russ Bldg. Lilienthal, M. P., & Co., 1204 Russ Bldg. Lundborg, Irving & Co., 604 Kohl Bldg. Mack, Jr., Harold L., 3014 Russ Bldg. Manheim, Baker & ver Mehr, 440 Montgomery St. Manheim, Henry, 440 Kohl Bldg. Maxwell, Victor T., 1 Montgomery St. McDonnell & Co., 633 Market St. McNear & Company, 362 Russ Bldg. McNear, Edward H., 362 Russ Bldg. Meigs, J. J., Benbow, Calif. Miller, G. Willard, 45 Montgomery St. Newell, Coons & Co., 232 Montgomery St. Norris, L. H. & Son, 1272 Russ Bldg. Norris, Lucius G., 1272 Russ Bldg. Park, Howard G„ 155 Sansome St. Parrish, Earl T„ 155 Sansome St. Pierce, E. A. & Co., 301 Montgomery St. Platt, Robert R., 300 Standard Oil Bldg. Pringle, Edward O., 1 Montgomery St. Purrington, Elwin E., 50 Post St. Raiss, Carl & Co., 256 Montgomery St. Raiss, Carl, 256 Montgomery St. Ridley, Robert M., 633 Market St. Schwartz, Sidney L., 407 Montgomery St. Shaughnessy, Frank C. & Co., 604 One Eleven Sutter Bldg. Shaughnessy, Frank C., 604 One Eleven Sutter Bldg. Shaw, Hooker & Co., 1 Montgomery St. Shuman, W. D. M., 155 Sansome St. Simon, Richard O., 482 California St. Skaggs, C. W., 211 Montgomery St. *WM. R. STAATS CO., 155 Montgomery St. Stern & Co., John D„ 111 Sutter St. Strassburger & Co., 133 Montgomery St. Sutro, Adolph G., 1000 Point Lobos Ave. Sutro & Co., 407 Montgomery St. Wade, Jr., Merton C„ 517 California St. Walston & Co., 2801-07 Russ Bldg. Watson, R. B., 50 Post St. Wheeler, Rollo C., 1243 Russ Bldg, Willard, Robert H„ 121 Sutter St. Wilson, Francis A., 1112 Russ Bldg. Witter, Dean & Co., 45 Montgomery St. Woods, Wm. W., 301 Montgomery St. (Associate Member*) Farther Information on firms appearing in bold tace type will be found in the selected list of Investment Dealers following bank list In each city, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1659 COLORADO COLORADO SPRINGS STOCK EXCHANGE President—Horace M. Ragle, Mining Exchange Bldg. Secretary—C. M. Balkam, 418 Mining Exchange Bldg. (P. O. Box 196) BATES OF COMMISSION Adopted December 31, IKS Under lc per share......................................................$ .50 per 1,000 shares At lc and under 2c per share.................. 75 per 1,000 shares At 2c and under 5c per share.............................. 1.25 per 1,000 shares At 5c and under 10c per share...................... 2.00 per 1,000 shares At 10c and under 20c per share............................ 3.00 per 1,000 shares At 20c and under 30c per share............. 4.00 per 1,000 shares At 30c and under 40c per share_______________ 5.00 per 1,000 shares At 40c and under 50c per share................................ 6.00 per 1,000 shares At 50c and under 75c per share....... .......... 7.50 per 1,000 shares At 76c and under $1.00 per share.................... . 10.00 per 1,000 shares At 31.00 and under $2.00 per share____________ 2.00 per 100 shares At $2.00 and under $3.00 per share. ................ 4.00 per 100 shares At $3.00 and under $5.00 per share............... 5.50 per 100 shares At $5.00 and under $10.00 per share___________ 7.50 per 100 shares •At $10.00 and under $25.00 per share__________ 15.00 per 100 shares At $25.00 and over per share............................ 25.00 per 100 shares (Minimum commission shall not be less than $1.00 on an Individual transaction.) •Golden Cycle Corp.—20c per share. ON BONDS (Effective July 17, 1934) $1.50 per $100 bond—for total par values of $100 to $500 Inclusive. $3.00 per single bond of $1,000 par value. $2.50 for each bond In even multiples of $1,000 par value. BOARD-LOTS 5,000 shares in stocks selling at less than 2c per share. 1,000 shares in stocks selling at 2c and less than 50c per share. 500 shares in stocks selling at 50c and less than $2.00 per share, except the shares of the Holly Development, Holly Oil, Table Mesa Oil in which 100 shares constitute a board-lot. 100 shares in stocks selling at $2.00 and less than $10.00 per share. 10 shares in stocks selling at $10.00 and over per share. Daily quotations are for board-lots only MEMBERS Balkam, 0. M.. 338 First Nat’l Bk. Bldg. Carlton, L. G„ Golden Cycle Bldg. Gray, William, Mining Exchange Bldg. Hopkins, C. D., Mining Exchange Bldg. Hughes, E. W. & Co., Mining Ex. Bldg. Leipheimer, N., Independence Bldg. Nicholson, W. F., Mining Ex. Bldg. Penrose, Spencer, Broadmoor Hotel Quentin, E. E. & Co., P. O. Box 343 Ragle, Horace, Mining Ex. Bldg. Sachs, Henry, First Nat’l Bk. Bldg. Young, H. A., Independence Bldg. Young, R. 8.. Mining Ex. Bldg. DENVER STOCK EXCHANGE Officers: Warren R. Given, President; Amos Downs, Vice-President; Fred W. Miller, Treasurer; Ralph M. Davis, Secretary; Marjorie Eaton, Assistant Secretary RATES OF COMMISSION SCALE OF COMMISSIONS Units of Trading (Board Lots) Stocks selling under 5c 5% on money 5c and under 10c $2.50 per thousand shares “ at *• 10c 4, 50c Xc * share $1.00 50c “ $2.50 ‘ hundred shares 44 “ •• $1.00 4. $2.50 $3.00 ................... 4, $2.50 $5.00 $5.00 $5.00 4. $10.00 $7.50 .................... .. 44 .4 4. $25.00 $12.50 4 $10.00 4. .. .4 $25.00 “ over $25.00 4 Minimum commission is as follows: On orders amounting to $60.00 or less, $1.50; on stocks selling under $10.00 per share, $2.50; on stocks selling at $10.00 and above, $3.50. No State Tax required on transactions on the Denver Stock Exchange. Transfer charge added. The unit of trading (board lots) shall be as follows: Stocks selling at 1 cent per share or under—5,000 shares. Stocks selling above 1 cent per share and under 10 cents per share—1,000 shares. Stocks selling at 10 cents per share and under 50 cents per share—500 shares. Stocks selling at 50 cents per share and under $3.00 per share—100 shares. Stocks selling at $3.00 per share and under $10.00 per share—60 shares. Stocks selling at $10.00 per share and under $25.00 per share—25 shares. Stocks selling at $25.00 per share and over—10 shares. Offers to buy or sell shall be taken to mean a board lot unless otherwise specified. Board lots shall at all times take precedence over special lots. Offers to buy or sell special lots greater than board lots shall be held to include board lots for the whole or any portion thereof. MEMBERS Carroll & Co., Inc., Guardian Trust Bldg. Cleek & Co., 1737 Stout St. Ooe & Co., W. L., 611 C. A. Johnson Bldg. Currie, Trevor, 437 U. S. National Bank Bldg. Davis, R. M., & Co., U. S. National Bank Bldg. Downs & Co., 718 17th St. Foreman & Co., 213 California Bldg. W. R. Given & Co., Suite 804 Interstate Trust Bldg. Howard J. Hannon & Co., 1012 U. S. National Bank Bldg. Ralph G. McFann & Co., 431 U. S. Nat’l Bank Bldg. Meyer-Martin & Co., Suite 931 U.S.Nat’l Bank Bldg. Nation Wide Investment Co., 2239 E. Colfax Ave. P. B. Rosebrough, 1536 Welton St. W. F. Ryan, 509 17th St. Stark-Danlel & Co., Idaho Springs, Colo. Stem-Stovall Co., 404 Patterson Bldg. A. F. Woodward, 521 U. S. National Bank Bldg. R. E. Young & Company, 1706 Stout St. Further Information on arms appearing In bold face type will be found in the selected list of Investment Dealers following bank list In eaeb city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1660 STOCK EXCHANGE MEMBERS DISTRICT OF COLUMBIA WASHINGTON STOCK EXCHANGE 632 Washington Bldg. STOCKS Under 50c a share.................................................................. l)4c. per share At 50c a share and above, but under $1................................. 3c. pershare At $1 a share and above, but under $5_________________ 5c. pershare At $5 a share and above, but under $10....................... 10c. pershare At $10 a share and above, but under $50....... -15c. pershare At $50 a share and above, but under $100......................... ..25c. pershare At $100 a share and above, but under $150..... 50c. pershare At $150 a share and above, but under $200....... 75c. pershare COMMISSION CHARGES At $200 a share and above, but under $300........................$1.00 per share At $300 a share and above, but under $500........................$1.50 per share (Effective March 16, 1936) At $500 a share and above___________ $2.00 per share Commissions on Rights shall be the same as those fixed for stocks. Fractional shares: BONDS Less than J4 share___________________________ 25c. each transaction Government____ ______ ___________________________ 12J4c. per $100 Vi share and over___________ ________________ 50c. each transaction Minimum charge of $3.00 on any single transaction (Stocks or Bonds), All other bonds____ ________ _______________________ 25c. per $100 except fractional shares. MEMBERS McKnew, Donald H„ 719 15th St. N. W. Hall, Frank M„ Southern Bldg. Auchincloss, Parker & Redpath, 719 15th St., McKnew & Company, Inc., D. H., 719 15th St., Hall, Peters and Bryson, Southern Bldg., 15th N. W. N. W. & H. Sts. N. W. Booker, Yelverton E., American Security Bldg. Nees, Bernard J., Southern Bldg. Harriman & Keech, 815 15th St. N. W. Booker, Y. E., & Company, American Security Nolan, James P., American Security Bldg. Hendrick, J. Thilman, Hibbs Bldg. Bldg. O’Donnell, James, 15th and Eye Sts., N. W. Hibbs, W. B„ & Co. (Estate of) Hibbs Bldg. Brawner Jno. F„ c/o Waggaman, Brawner & Co., Olds, Jr., Edson B., American Security Bldg. Hillyer, Edward L., c/o Union Tr. Co., 15th & H Inc., 1700 Eye St.. N. W. Parker, Jr., Chauncey G„ 719 15th St., N. W. Sts., N. W. Brown, Goodwyn and Olds, American Security Patterson, Harold C„ 719 15th St., N. W. Jacobsen, Charles, 613 15th St., N. W. Bldg. Quail, Myles H„ American Security Bldg. Johnson, O. H. P.. 613 15th St., N. W. Casilear, R. A., Falls Church, Va. Robinson, T. Baker, 1508 H St., N. W. Johnston, James M., Corby, Karl W. (Estate of). Rodler, P. P„ Hibbs Bldg. Johnston, Lemon, & Company, Southern Bldg., Cramer, Geo. F„ 1700 Eye St., N. W. Spaid, W. W., Hibbs Bldg. 15th & H Sts., N. W. English, Merton A., Washington Bldg. Thoron, Benjamin, 2900 N. St., N. W. Jones, Robert C„ Shoreham Bldg., 15th & H Sts., Erwin, Henry P„ Hibbs Bldg., 725 15th St. N. W. Waggaman, Brawner & Co., Inc., 1700 Eye St., N. W. Exnicios, Marshall O., Shoreham Bldg. N. W. Jones & Co., Inc., Robert C., Shoreham Bldg. Ferris George M„ Washington Bldg., 15th & Wales, Kenneth S., 815 15th St. Legg, Jr., John C„ Woodward Bldg. New York Ave., N. W. Lemon, James H., Southern Bldg. Ferris & Co., Inc., George M., Washington Bldg. Wales & Company, Inc., K. S., 815 15th St., N. W. Mackall, Jr., William W., Woodward Bldg. Flather, H. H„ 725 Hibbs Bldg. Watson, George A., 815 15th St., N. W. Folger, Nolan & Co., Inc., American Security Westheimer, Milton F., Woodward Bldg. Bldg. Westheimer & Company, Woodward Bldg., 15th Garrett, George A., 815 15th St., N. W. and H Sts., N. W. MACKUBIN, LEGG & CO., Woodward Bldg. Gockeler, C. J., 619 14th St., N. W. Wilkins, John F., 1700 Massachusetts Ave., N. W. 15th & H Sts., N. W. Golden, Theodore T., American Security Bldg. Washington Stock Exchange Officers: James M. Johnston. Pres. W. W. Spaid.F. P. William W. Mackall, Jr., Sec. Chauncey G. Parker, Jr., Tr. HAWAII HONOLULU STOCK EXCHANGE Officers: C. M. Cooke, III, President; Joe Andrade, Vice-President; Geo. E. Parker, Executive Secretary; Bishop Tr. Co., Ltd., Treasurer. MINIMUM RATES OF COMMISSION Adopted by the HONOLULU STOCK EXCHANGE Effective May 10, 1929 On stock bought or sold locally—listed or not listed. Stocks selling at 50.00 and under 75.00,............... .35 per share ....................... . 34 per share .10 Stocks selling below $ Stocks selling at 75.00 and under 100.00..............................40 pershare per share .10 and under $ 1.00____ _____01 Stocks selling at Stocks selling at 100.00 and above.............. J4 of 1% 2.50________ .02)4 per share 1.00 and under Stocks selling at 5.00.................07)4 per share 2.50 and under Stocks selling at Minimum commission on stocks $2.50. 10.00...................12)4 per share 5.00 and under Stocks selling at Minimum commission on Bonds one fourth of one per cent on par, but not 20.00_________20 per share 10.00 and under Stocks selling at less than 50c. 50.00................ .25 per share 20.00 and under Stocks selling at MEMBERS Union Trust Co., Ltd., 1025 Alakea St. Hawaiian Trust Co., Ltd., 120 S, King St. Andrade, Joe, 89 Merchant St. Bishop Trust Co., Ltd., 1415 King St. Bldg. Walker, Samuel A., 80 Merchant St. Love & Co., Ltd., W. A., P. O. Box 578. Campbell, A. J., 79 Merchant St. Witter. (Dean) & Co., 115 Merchant St. Rice, Jr„ A. H„ 227 S. King St. Cooke Trust Co., Ltd., 920 Fort St. ILLINOIS CHICAGO STOCK EXCHANGE (120 South LaSalle St.) Officers: Thaddeus R. Benson, President; Wallace C. Winter, Vice-President; Sidney L. Parry, Assistant to the President; Paul B. Skinner, Treasurer; Martin E. Nelson, Assistant Secretary and Assistant Treasurer; Jess Hals ted, Secretary; Charles T. Atkinson, Secretary Emeritus; Kenneth L. Smith, Assistant Secretary; Walter R. Hawes, Assistant Secretary and Floor Manager RATES OF COMMISSION (a3) On business for members of the Exchange when a principal is Commissions: not given up, the commission shall be not less than the following: Section 1. Commissions shall be charged and paid under all circum Selling at less than 1 per cent of face value of principal— stances, upon all purchases or sales of securities dealt in upon the Exchange As may be mutually agreed upon. (except as provided in Subdivision [h], Section 2 of this Article) and shall Selling at 1 per cent or above but under 10 per cent of face value of be absolutely net and free from all or any rebatement, return, discount or principal— allowance in any shape or manner whatsoever, or by any method or arrange Not less than 62)4c per $1,000 face value of principal. ment direct or indirect; and no bonus or any percentage or portion of the Selling at 10 per cent of face value of principal and above— commission shall be given, paid or allowed, directly or indirectly, or as a Not less than $1.25 per $1,000 face value of principal. salary or portion of a salary, to any clerk or person for business sought or procured for any member of the Exchange. (b) On securities of the United States, Porto Rico and the Philippine Islands, and of states, territories and municipalities therein, on business Sec. 2. Commissions shall be calculated on the basis hereinafter specified: for members of the Exchange as well as nonmembers, the restrictions as to (a) On railroad, public utility and industrial bonds, having more than minimum commissions contained in this article shall not be applicable, but five years to run: the rates to be charged shall be such as may be mutually agreed upon. (c) On Stocks: (al) On business for parties not members of the Exchange, including Joint account transactions In which a nonmember is interested; transactions (cl) On business for parties not members of the Exchange, including for partners not members of the Exchange; and for firms of which the Joint account transactions in which a non-member is interested; transac Exchange member or members are special partners only, the commission tions for partners not members of the Exchange; and for firms of which the shall be not less than the following: Exchange member or members are special partners only, the commission shall be not less than the following: Selling at less than 1 per cent of face value of principal— As may be mutually agreed upon. On stocks selling below $10 per share, but not less than $1 per share, Selling at 1 per cent or above but under 10 per cent of face value of 7J4c per share. principal— On stocks selling at $10 per share and above, but under $25 per share, Not less than $1.25 per $1,000 face value of principal. 12)4c per share. Selling at 10 per cent of face value of principal and above— On stocks selling at $25 per share and above, but under $50 per share, Not less than $2.50 per $1,000 face value of principal. 15c per share. On stocks selling at $50 per share and above, but under $75 per share, (a2) On business for members of the Exchange when a principal 17J4c per share. given up, the commission shall be not less than the following: On stocks selling at $75 per share and above, but under $100 per share, Selling at less than 1 per cent of face value of principal— 20c per share. As may be mutually agreed upon. On stocks selling at $100 per share and above, but under $200 per share, Selling at 1 per cent or above but under 10 per cent of face value of 25c per share. principal— On stocks selling at $200 per share and over, 25c per share for the first Not less than 37)4c per $1,000 face value of principal. $200 in price and 5c per share additional for each $50 increase in price, or Selling at 10 per cent of face value of principal and above— fraction thereof. Not less than 75c per $1,000 face value of principal. Farther information on firms appearing in bold face type will be found in tbe selected list of Investment Dealers following bank list in eacb city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1661 CHICAGO STOCK EXCHANGE—Continued BATES OF COMMISSION—Continued The minimum commission on an individual transaction in stock shall be to odd lot dealers upon the execution of transactions in odd lots shall be not less than as provided in subdivision (h) of Section 2, and Section 3 of calculated in accordance with Section 2 of this Article, without any minimum. this Article. Sec. 4. Members suspended by the Governing Committee shall not, (c2) On business for members of the Exchange when a principal is given during the time of suspension, be entitled to have their business transacted up, the commission shall be not less than the following: at members’ rates. On stocks selling below $10 per share but not less than $1 per share, A member who is in suspension by reason of insolvency, may have his lMc per share. business transacted at members’ rates. On stocks selling at $10 per share and above, but under $125 per share, Sec. 5. No agreement or arrangement shall be entered into between a 2Kc per share. member of his firm, and his or their customer, whereby special and unusual On stocks selling at $125 per share and over, 3c per share, except that rates of interest are stipulated for, or money advances upon unusual terms the minimum commission shall be not less than as provided in Section 3 are made a condition in connection with the conducting of an account, with of this Article. intent thereby to give special or unusual advantages to such customer for (c3) On business for members of the Exchange when a principal is not the purpose of securing his business. given up, the commission shall be not less than the following: Sec. 6. No payment shall be made to customers of the proceeds from the On stocks selling below $10 per share but not less than $1 per share, sale of securities on the day of the sale and before the money is received by lMc per share. the broker, unless interest is charged. When securities purchased for a On stocks selling at $10 per share and above, but under $125 per share, customer are not paid for by him on the day they are received and paid 3Mc per share. for by the broker, interest must be charged from that date to the date of payment. Where a material or more than nominal loss is sustained, either On stocks selling at $125 per share and over, 5c per share, provided, through bank exchange charges or interest, the same must be charged to however, that the minimum commissions on individual transactions shall be the customer. not less than as provided in Section 3 of this Article. Sec. 7. Any member violating this Article, directly or Indirectly, of (d) In transactions where orders are received from a non-member, where which the Governing Committee shall be the judge, shall, upon conviction, in the broker filling the order is directed to give up another broker or clearing for the first offense, be fined five hundred dollars, and shall be suspended house, the responsibility of collecting the full commission, as specified in for a period of not less than three months; and for the second offense shall Subdivisions (al), (b) and (cl), hereof, shall rest with the broker or clearing be expelled, and his membership disposed of by the Committee on Admis house settling the transaction. sions. (e) In transactions where orders are received from a member, on which OPTIONAL MINIMUM COMMISSION the clearing firm is given up by said member or by his order, the responsibility Sec. 8. Notwithstanding any of the foregoing provisions, a member may of collecting the full commission, as specified in Subdivisions (a3), (b) and at his option charge a non-member for executing orders in securities listed (c3), hereof, shall rest with said clearing firm; and it shall be the duty of the both on this Exchange and the New York Stock Exchange either the minimum broker who executes such orders to report such transactions to the clearing commission rates hereinbefore prescribed or the minimum commission rates firm and render to them and collect his bill therefor at the rate specified in prescribed by the New York Stock Exchange. Subdivisions (a2), (b) and (c2), hereof; and also that where a broker executes an order for a member and clears the security himself, he must charge the COMMISSIONS ON RIGHTS AND STOCK rates specified in Subdivisions (a3), (b) and (c3), hereof. Reference is made to the By-Laws, Article XVI, Section 2, paragraph (h). (f) Whenever a nonmember of this Exchange shall cause to be executed The Committee on Commissions, with the approval of the Governing in any market outside of the United States any order or orders, for the Committee, hereby rules that until further notice the commissions on sub purchase or sale of securities listed on this Exchange, (except as provided in scription rights accruing on one share of stock and upon stock selling for Subdivision [h] hereof), and said purchase or sale shall be accepted by a less than $1.00 per share shall be not less than the following: member or firm who are members of this Exchange, for the account of said Under 50c per right or share of stock: non-members, the commission as specified in Subdivisions (al), (b) and (cl), May be mutually agreed upon. hereof, shall be charged said nonmember in addition to any commission 50c per right or share of stock, but under $1.00: charged by the party or parties making the transaction. To non-members, not less than 3c; minimum 50c. (g) When securities are received or delivered on a privilege for a nonTo members, give-ups, not less than Me. member, the commission as specified in Subdivisions (al), (b) and (cl), To members, clearance, not less than Me. hereof, must be charged whether said securities are received or delivered $1.00 per right and above, but under $5.00: upon the day of expiration of said privilege or prior thereto. To non-members, not less than 5c; minimum $1.00. (h) On Subscription Rights, Stocks selling for less than $1 per share; To members, give-ups, not less than Me. Bonds or Notes of Foreign Countries having five years or less to run; Notes To members, clearance, not less than lMc. of Corporations having five years or less to run; Bonds having five years or $5.00 per right and above, but under $10.00: less to run; such rates to members or non-members as may be mutually To non-members, not less than 7Mc; minimum,$1.00. agreed upon; provided, however, that the Committee on Commissions, with To members, give-ups, not less than lMc. the approval of the Governing Committee, may hereafter determine special To members, clearance, not less than lMc. rates on any or all of the above mentioned securities. $10.00 per right and above: The rates shall conform to the rates on stocks of the same price; provided (i) When a member merely receives and delivers securities for another that the minimum on one transaction to non-members shall be $2.00. member, the clearing charge for said service may be a matter of mutual The above rates to be effective as of December 30, 1930, and to continue agreement, and the restrictions as to minimum commissions contained in in force until further notice. this Article shall not be applicable. Such clearing charges shall be based upon a stipulated sum of money for each one hundred snares of stock or one Compensation: The payment of any commission or bonus for the thousand dollars of bonds received or delivered. The payment for said adjustment of salaries is held a violation of Article XVI, Section 1 of the service of a certain sum of money for any period of time, irrespective of By-Laws. Any plans for additional or adjusting compensation should be the number of shares or amount of bonds cleared, is forbidden. submitted to the Committee on Commissions for its approval. Discretionary Accounts: Customers’ men and all other employees are Sec. 3. The minimum commission on transactions in stocks for non prohibited from handling discretionary accounts. Discretionary power in members (except in stocks selling for less than $1.00 per share) shall the handling of an account may be vested only in partners. A partner (a) Where the transaction involves $200.00 or more, be not less than may delegate such discretionary power to a customers’ man to a reasonable $5.00; extent, provided the consent of the customer in writing is first obtained. (b) Where the transaction involves less than $200.00 but $15.00 or Such delegation of discretionary power by a partner to a customers’ man more, be not less than $3.00; and does not relieve the partner of responsibility for improper transactions. (c) Where the transaction involves less than $15.00, be as may be CHARGES FOR THE SERVICE OF CLEARING mutually agreed upon. Upon transactions between members, the minimum commission shall be Reference is made to the By-Laws, Article XVI, Section 2 (i). $1.00 upon stocks selling at $10.00 and above per share, and 50c upon An agreement between members whereby the charge for the service of stocks selling below $10.00 per share but not less than $1.00 per share; clearing a member’s transaction in stocks is less than $1.25 per hundred Provided, that where any transaction involves less than $15.00, the com shares, shall be deemed to be an act not in accordance with just and equi mission to be charged may be mutually agreed upon, and Provided Further, table principles of trade and business, and the offending member shall be that there shall be no minimum commission fixed upon transactions in odd subject to such penalty as may be inflicted by the Governing Committee lots executed by members for and on behalf of odd lot dealers who have as it may deem proper according to the gravity of the offense, as specified been approved as such by the Exchange, but the commissions to be charged in Article XII, Section 11, of the Constitution. Aagaard, Walter S., 141 W. Jackson Blvd. Abbott, Proctor & Paine, 208 S. La Salle St. Aldrich, Frederick C., 120 S. LaSalle St. Anderson, Robert B., 1335 E. 52nd St. Andrew, L. A., Jr. & Co., 134 S. La Salle St. Annan, David H., 141 W. Jackson Blvd. Apgar, Daniels & Co.. 120 S. LaSalle St. Archer, W. K. & Co., 926 Baltimore Bldg., Kansas City, Mo. Armour, Laurance H., 33 N. LaSalle St. Armstrong .Frederick W., 132 W. Monroe St. Atkins, Hamill & Gates, 204 Electric Bldg., Indianapolis, Ind. Austrian, Harvey S., 141 W. Jackson Blvd. Avery & Co., 120 S. La Salle St. BABCOCK, RUSHTON & CO., 135 S. LaSalle St. BACHE, J. 8. & CO., 316 S. LaSalle St. Bacon & Co., 256 Montgomery St., San Francisco, Calif. BACON, WHIPPLE & CO., 135 S. LaSalle St. Badenoch, David A., 327 S. La Salle St. Baker. Alfred L. & Co.. Ill S. LaSalle St. Ballard, Seymour, 120 S. LaSalle St. Barney, Chas. D. & Co., 14 Wall St., New York, N. Y. Baur, Willis S„ 316 S. LaSalle St., Board of Trade Bldg. MEMBERS Becker. Paul M., 231 S. LaSalle St. Bennett, James E. & Co., 332 S. LaSalle St. Benson, George B., 135 S. LaSalle St. Benz, George W., 300 Shubert Bldg., St. Paul, Minn. Benz, Herbert G., 300 Shubert Bldg., St. Paul, Minn. Bidgood. Clyde H., 105 W. Adams St. Blesch, Joseph G„ 4720 Greenwood Ave. Bloomingston, Jno. A., 160 N. LaSalle St. Blum, Harry H., 630 S. Michigan Ave. Blumenthal & Ward. 120 S. LaSalle St. Bodman, Harold C., c/o Am. Express Co., Florence, Italy. Boorman, Earl D., 120 S. LaSalle St. Boyce, W. Graham, Jr., 1209 Astor St. Bridgen, Clarence J„ 209 S. LaSalle St. Bright, Elmer H., & Co., 84 State St., Boston, Mass. Brockhaus, Philip W., 208 S. LaSalle St. BROWN BROTHERS HARRIMAN & CO., 135 S. LaSalle St. Brown, Douglas, E., 231 S. LaSalle St. Brown, J. Dorsey. 4306 Greenway. Baltimore. Md. Brown, Joseph P., 120 S. LaSalle St. Brown, Scott, 120 S. LaSalle St. Brown, Sherman J., 209 Kresge Bldg., Rich mond, Ind. Bryan, Benj. B„ Jr., 999 Sheridan Road, Lake Forest. Ill. Buhler, Walter J., 120 S. LaSalle St. Burdick, John R., Jr., 208 S LaSalle St. Burel, Robert L., 544 Park Ave., Glencoe, Ill. Burmeister, Jno. C., Jr., 231 S. LaSalle St. Byrne, Edward J., 120 S. LaSalle St. Cahn, Morton D., 120 S. LaSalle St. Cardona, Raymond, Great Northern Hotel. Carter, Ford R., 120 S. LaSalle St. Cavaney, James A.. 332 S. LaSalle St. Chambers (Henning) & Co., 431 W. Jefferson St., Louisville, Ky. Chapin, S. B. & Co., 209 S. LaSalle St. Church, George F., 38 S. Dearborn. Clayton, Gilbert M., 332 S. LaSalle St. Cleary & Co., 120 S. LaSalle St. Cleland, Karsner, 120 S. LaSalle St. Clement, Austin A., 231 S. LaSalle St. Clement, Curtis & Co.. 231 S. LaSalle St. Clucas, E. W.. & Co., 70 Pine St., New York, N. Y. Coleman, Clarence L., 25 S. Market St. Collins, Timothy A., 231 S. LaSalle St. Cook, Charles K., 40 Wall St., New York. Cotton, Earl H„ 141 W. Jackson Blvd. Coultr.v, Gilbert H., 120 S. LaSalle St. Craigie, James, 120 S. LaSalle St. Creitz, Lee M„ 231 S. LaSalle St. Curran, Peter A., 105 S. LaSalle St. Currier, Jefferson D„ 208 S. LaSalle St. Daniels, Roy I., 141 W. Jackson Blvd. Davis, Maurice, 141 W. Jackson Blvd. Davis, Paul H. & Co., 10 S. LaSalle St. Further information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list in each city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1662 STOCK EXCHANGE MEMBERS CHICAGO STOCK EXCHANGE—Continued MEMBEBS—Continued Davis, Robert C., 320 Cresent St., Cedar Rapids, Iowa. Dean, J. Clarke, 120 S. LaSalle St. deConingh, Peter C„ 5480 Cornell Ave. Dixon, Joseph F„ & Co., 105 S. LaSalle St. Dltt, Paul C. & Co., 120 S. LaSalle St Doering Otto C., 333 N. Michigan Ave. Dominick & Dominick, 115 Broadway, New York, N. Y. Doty, Arch C., 105 W. Adams St. Dougall, Chancellor, 10 S. LaSalle St. Edgerton, John J., 61 Broadway, New York. Edwards, A. G„ & Sons, 409 N. Eighth St., St. Louis, Mo. Eiseman, Lester M„ 7010 Paxton Ave. Eldredge, Charles H., 208 S. La Salle St. Ernst & Company, 231 S. LaSalle St. Fairman, Randall & Co., 208 S. La Salle St. Faroll Bros., 141 W. Jackson Blvd. Farwell, Chapman & Co., 208 S. LaSalle St. Feinberg, Joseph H., 10 S. LaSalle St. Fenner & Beane. 141 W. Jackson Blvd. Forberg, Walter 0., 10 S. La Salle St. Forschner, A. J.. 12150 Parnell Ave. Francis, Bro., & Co., 222 N. 4th St., St. Louis, Mo. Frank, A. R. & Co., 120 S. LaSalle St. Freeburne, Roy W., 1455 King St., East Hamilton, Ont., Canada. Freehling, Norman, 120 S. LaSalle St. Friedman, Brokaw & Samish, 711 St. Charles St., St. Louis, Mo. Frommer & Co., 338 N. Capitol St., Indianapolis, Ind. Fuller, Cruttenden & Co.. 120 S. LaSalle St. Furness, Thomas F., Ill S. LaSalle St. Oerwig, Frank L. & Co., 135 S. LaSalle St. Giblin, Walter M„ 10 S. La Salle St. Gibson, Robert H„ 235-7 Scott Blvd., Covington, Ky. Gifford, Cedric C„ 120 S. LaSalle St. Gifford, Lewis F., R. F. D. 5, Wooster, O. Glass, Walter, 135 S. LaSalle St. GLOBE, FOBGAN * CO., 123 S. LaSalle St. Godow, Joseph, 1000 Fulton St. Goodbody & Co., 115 Broadway, New York, N. Y. Graham & Co., 141 W. Jackson Blvd. Graham, Percy, Jr., 135 S. LaSalle St. Granberry & Co., 50 Broadway, New York, N. Y. Gray, Luman H., 120 Pipestone St., Benton Harbor, Mich. Grennan, Philip H., (Est. of) Russell at Medbury, Detroit, Mich. Griffin, John J., 120 S. La Salle St. Gross, Gilbert, 120 S. LaSalle St. Guild, David D„ 120 S. LaSalle St. Hachtmann, George E., 10 S. LaSalle St. Haerther, William W., 22 W. Monroe St. Halle & Stieglitz, 25 Broad St., New York, N. Y. HALLGABTEN Sc CO., 120 S. LaSalle St. Hamlin, Edward M., 75 Federal St., Boston, Mass. Hannah, James A., 210 N. Talman Ave. Hansen, Howard S., 2523 Central St., Evanston, Ill. Hardenbrook, Burt W., 38 S. Dearborn St. Harris, Burrows & Hicks, 135 S. La Salle St. Harris, Upham Sc Co.. 135 S. La Salle St. Harrison, Arthur C., 134 S. LaSalle St. Harrison. O’Gara & Co., 209 S. LaSalle St. Hastey, Robert P., 4420 Greenwood Ave. Hebert, Louis A., 141 W. Jackson Blvd. Hemphill, Noyes & Co., 141 W. Jackson Blvd. Hermes, John P., 332 S. LaSalle St. Hill & Co., 2020 Carew Tower. Cincinnati, Ohio Hilliard, J. J. B. & Son, 419 W. Jefferson St., Louisville, Ky. Hopkins, William L„ 650 S. Spring St., Los Angeles, Calif. Hornblower & Weeks, 39 S. LaSalle St. Howell, Douglass & Co., Russ Bldg., San Francisco, Calif. Hoyt, Frederick T., 160 N. LaSalle St. Hulburd, Warren & Chandler, 208 S. LaSalle St. Hummer (Wayne) & Co., 105 W. Adams St. Hutton, W. E., & Co., 1st N. Bk. Bldg., Cincinnati, Ohio. Hyman, Rae F., 39 S. La Salie St. Iverson, Chester S„ 231 S. LaSalle St. Jablonski, August I., 120 S. LaSalle St. Jackson Bros., Boesel & Co., 26 Broadway, New York, N. Y. Jackson & Curtis, 231 S. LaSalle St. Jamieson, Stewart E„ 10 S. LaSalle St. Jelke (Frazier) & Co., 40 Wall St., New York, N. Y. Jenks, Gwynne & Co., 65 Broadway, New York, NY. Jones, Edward D., & Co., Boatmens Bank Bldg., St. Louis, Mo. Kaplan, Robert, 5801 S. State St. Karasik, Nathan. 337 E. Illinois St. Keefe, John G., Route 3, Antioch, Ill. Kinsman, Charles E., 245 Claremont St., Elmhurst, Ill. Kissilove, J. M., 10 S. La Salle St. Knight, Newell S., 135 S. LaSalle St. LAMBOBN, HUTCHINGS * CO., 231 S. LaSalle St. Lamson Bros. & Co., 141 W. Jackson Blvd. Lamy, Joseph F„ 332 S. LaSalle St. Lamy, Raymond P., 1226 Elmwood Ave., Evanston, Ill. Lancton. William F.. 209 S. LaSalle St. Langill & Co., 134 S. La Salle St. Layman, Waldo A., 134 S. LaSalle St. Lehman Bros., 231 S. LaSalle St. Lester, Carter & Co., 135 S. LaSalle St. Levy, Herbert, 209 S. LaSalle St. Liebenstein, Harold E„ 120 S. LaSalle St. Lippmann, Albert F., 105 S. LaSalle St. Lizars (Rawson) & Co., 135 S. LaSalle St. Logan, Stuart, 2344 Lincoln Park West. Lowenbach, Harry J., 105 S. LaSalle St. Lowitz, E„ & Co., 29 Broadway, New York, N. Y. Lyons, W. L„ & Co., 231 So. Fifth St., Louisville, Ky. Mabon & Co., 1 Wall St., New York, N. Y. MacFarlane & Holley, 120 S. LaSalle St. Magner, Joseph F„ 6333 Wayne Ave. Marks, Laser & Co., 231 S. LaSalle St. Masten, A. E., & Co., First Nat’l Bk. Bldg., Pittsburgh, Pa. Matthews, Walter N„ US. LaSalle St. McDermott, Francis O., 120 S. LaSalle St. McDonald, Frank E. & Co., 120 S. LaSalle St. McGhie, George, & Co., 105 S. LaSalle St. McMaster. Stewart. 120 S. LaSalle St. McMaster, Hutchinson & Co., 105 S. LaSalle St. Mellinger, Everett E., 141 W. Jackson Blvd. Merkle, Frank P., 225 Leicester Rd., Kenilworth, Ill. Messick & Co., 141 W. Jackson Blvd. Meyerhoff, Irving E., 120 S. LaSalle St. Mills, W. S. & Co.. 120 8. LaSalle St. Mills, William S„ Jr.. 120 S. LaSalle St. MITCHELL, HUTCHINS Sc CO., 231S. LaSalle Sadler & Co.. 105 S. LaSalle St. Sawyer, R. B„ 1031 Maple Ave., Evanston, Ill. Schenck, Robert F„ Jr., 10 S. LaSalle St. Schmaltz, James J., 327 S. LaSalle St. Schroth, Theodore F., Boatmen’s Bank Bldg., St. Louis, Mo. Schroth, Wilbur H„ 120 S. LaSalle St. Scobie, David P., 175 W. Jackson Blvd. Seaverns, George A., Jr., 164 W. Jackson Blvd. Sharp, Edward L., 231 S. LaSalle St. Sheahan, Wm. D., (Estate of), 135 S. La Salle St. Shearson, Hammill Sc Co.. 208 S. LaSalle St. Shields & Company, 135 S. LaSalle St. Shimmin, Robert P. & Co., 135 S. LaSalle St. Shipley, Charles A., 120 LaSalle St. Siegel, William, 231 S. LaSalle St. Simon, I. M., & Co., 315 N. 4th St., St. Louis, Mo Simons, Alex McD., 141 Jackson Blvd. Simpson, James Jr., 1 N. La Salle St. Simpson, William B„ 1300 N. Branch St. Sincere, Ben. E., 231 S. La Salle St. Sincere, Charles & Co., 231 S. LaSalle St. Slaughter, A. 0., & Co., 120 S. LaSalle St. Smart, R. H. & Co., 141 W. Jackson Blvd. Smart, Richard H., (Estate of), 141 W. Jackson Blvd. Smith Bros Sc Co., 29 S. LaSalle St. Smith, Solomon A., 50 S. LaSalle St. Smith, Walter B., 50 S. LaSalle St. Solomon, Frank, P. 0. Box 5968, Cleveland, Ohio. Solomon, Leslie J., 223 W. Jackson Blvd. Spicer, Henry S., Pigott Bldg., 36 James St., So., Hamilton, Ontario, Canada. Spinney, Fred, 141 W. Jackson Blvd. Stannard, Frederick J., 120 S. LaSalle St. Stearns, David P., 2407 Bennett Ave., Evanston. Stein Bros. & Boyce, 6 S. Calvert St., Baltimore, Md. Stein, Brennan & Co., 9 S. LaSalle St. Stein, Irving C„ 231 S. LaSalle St. Sterling, Louis V., 42 Broadway, New York. Stoddard & Boy den, 120 S. LaSalle St. Strick. Charles A., 135 S. LaSalle St. Strom, Eugene N„ (Estate of;, Golden Beach, Hollywood, Fla. Stuart, Harold L„ 201 S. LaSalle St. SUTEO BEOS. & CO., 134 S. LaSalle St. Molloy, Edward P., 135 S. LaSalle St. Molloy, John J., 135 S. LaSalle St. Molyneaux, Thomas F., 332 S. LaSalle St. Montgomery, Scott & Co., 123 So. Broad St., Philadelphia. Pa. Moore, McLean & Co., 200 S. LaSalle St. Morse, William H„ 141 W. Jackson Blvd. MOSELEY, F. S. Sc CO., 135 S. LaSalle St. Myers, Joseph W., 120 S. LaSalle St. Nance, Clement A., 506 S. Wabash Ave. Neuhut, Plohn & Co., 60 Broad St., New York, N. Y. Newman, Harry E., 209 S. LaSalle St. Norris .James, 141 W. Jackson Blvd. Norris * Kenly, 208 S. LaSalle St. Noyes, David A. & Co., 208 S. LaSalle St. Nussbaum, Bertram, Sherry Hotel. Nussbaum, Paul E„ 2346 E. 70th Place. OLIFHANT, JAS. H. Sc CO.. 209 S. LaSalle St. Paine, Webber & Co., 209 S. LaSalle St. Patton, Joseph R. Sc Co., 120 S. LaSalle St. Paulman, Henry, 135 S. LaSalle St. Payne, Harry M., 120 S. LaSalle St. Peabody, Howard B„ 25 N. Franklin St. Perrill, (Alger) & Co., 231 S. LaSalle St. Phillips, Richard W„ 120 S. LaSalle St. Pierce, E. A. & Co., 105 W. Adams St. Piper, Jaffray & Hopwood, 115 So. 7th St., Minneapolis, Minn. Plamondon, A. D„ Jr., 33 N. LaSalle St. Pratt, Joseph M., 135 S. La Salle St. Prince, F. H., i Court St., Boston, Mass. Purcell, Lawrence N„ 209 S. LaSalle St. Pyott, James M„ 332 S. LaSalle St. Quinn, David H., 208 S. LaSalle St. Reddy, Philip J., 327 S. LaSalle St. Reid, Robert H„ 10 S. LaSalle St. Reinholdt & Gardner, 400 Locust St., St. Louis, Mo. Renshaw, William B., 231 S. LaSalle St. Renwick, J. Stewart, Silver Tip Cottage, Long Beach, Michigan City, Ind. Reynolds & Company, 120 Broadway, New York, N. Y. Reynolds, Maurice V„ 22 West Monroe St. Richardson, Howard C„ Jr., 141 W. Jackson Blvd. Riter & Co., 134 S. LaSalle St. Roach, Edward A., 120 S. LaSalle St. Rodger, Arthur T„ 10 S. LaSalle St. Roeder, Joseph A., 20 N. Wacker Drive. Rogers, Frank E„ 7134 Bennett Ave. Rosenfield, John M., 120 S. LaSalle St. Rothschild & Co., 105 W. Adams St. Russell, Brewster & Co., 135 S. LaSalle St. Ryan & McManus, 39 Broadway, New York, N.Y. Swift, Henke & Co., 168 W. Monroe St. Talcott, Potter & Co., 141 W. Jackson Blvd. Teegarden, Frank W., 120 S. LaSalle St. Templeton’s Sons, J. S., 141 W. Jackson Blvd. Thompson, Arthur R„ 120 S. LaSalle St. Thomson & McKinnon, 316 S. LaSalle St. Thorn, King C., 2117 Lincolnwood Drive, Evans ton, Ill. Thorson & Stewart, 120 S. LaSalle St. Turner, Alfred E., at Winthrop, Mitchell & Co., 141 W. Jackson Blvd. Turner, Tracy L„ 232 E. Walton Place. Underwood, Morgan P„ 231 S. LaSalle St. Vehmeyer, Henry L., 209 S. LaSalle St. Vose, Hamilton, Jr., 450 W. Superior St. Wachenheim, Donald, 105 W. Adams St. Waldheim, Platt & Co., 308 No. Eight St., St. Louis, Mo. Walker, G. H., & Co., 503 Locust St., St. Louis, Mo. Walker, William T., 1304 Penobscot Bldg., Detroit, Mich. Wamboldt, Melvin P., 222 North Bank Drive. Warner, Addison, & Co., 39 S. LaSalle St. Watling, Lerchen & Hayes, Buhl Bldg., Detroit, Mich. Webster, Marsh Sc Co., 209 S. LaSalle St. Webster, Stuart, (Estate of), 135 S. La Salle St. Webster, Virgil C„ 120 S. LaSalle St. Weinress & Co., 231 S. LaSalle St. Wheeler, John E., & Co., 105 S. LaSalle St. Wilcox & Co., 14 Wall St., New York. Williams, Lucian E„ 231 S. LaSalle St. Williams, Mackenzie, 52 Broadway, New York. Wilson, Harold C„ 7446 Indiana Ave. Wilson, Hugh H., at David A. Noyes & Co., 208 S. LaSalle St. Wilson, Robt. C„ 5128 Hyde Park Blvd. Winter, Wallace C„ 120 S. LaSalle St. WINTHROP, MITCHELL Sc CO., 141 W. Jackson Blvd. Witter (Dean) & Co., 45 Montgomery St., San Francisco, Calif. Wood, R. Arthur, 231 S. LaSalle St. Woodruff, Harvey T., (Estate of), 425 Grove Sr., Evanston, Ill. Wortman, Glen R., Merchants National Bank Bldg., Aurora, Ill. Wright & Sexton, 1 Wall St., New York, N. Y. Wright, Warren, 33 N. LaSalle St. Young, Clarke & Company, 215 W. 7th St., Los Angeles, Calif. Zeiler, F. M. & Co., 209 S. LaSalle St, Farther information on firms appearing in bold faeo typo will bo found In the selected list of Investment Dealers following bank list In eaeh dtp. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1663 LOUISIANA NEW ORLEANS STOCK EXCHANGE Officers: Geo. E. Williams, President; Larz E. Jones, 1st Vice-President; T. J. Feibleman, Bnd Vice-President; George J. Knimmel, Secretary, Robert R. Wolfe, Treasurer. Emmett Meyer, Assistant Secretary. KATES OF COMMISSIONS Established by the New Orleans Stock Exchange. To be charged on all Transactions. On U. 8. Bonds.......... ...........................................................$2.50 per $1,000.00 On 8tate, City, Levee and all other Bonds...................... $5.00 per $1,000.00 On all bonds maturing within 1 year............................... $1.25 per $1,000.00 On all bonds maturing from 1 to 3 yrs..... ....................... $2.50 per $1,000.00 by the U. S. Government; (c) any class of bonds maturing within six months. ♦By resolution of the Governing Committee it is permissible for members to charge on these issues the minimum commission prevailing thereon on the other exchange on which these bonds are listed. ON ALL STOCKS SELLING: Under fifty cents_______ ____ ___________________ As mutually agreed On Exchange, Theatre and Club Stocks selling: At fifty cents and above, but under $1.00___Not less than 3 cts. per share At or below $100.00.................................................................... $5.00 per share At $1.00 and up to $10.00__________ 12H cts. per share Between $100.00 and $1,000.00____ _____ _________ 5% of market value At $10.00 up to $50.00 per share_____________________ 25 cts. per share At $1,000.00 and up to $5,000.00, exclusive...................................$50.00 pershare At $50.00 up to $100.00 per share____________________ 50 cts. per share At $5,000.00 and up to $10,000.00, exclusive........ ........... $100.00 per share At $100.00 and over--------------------------------1% of Market price per share At $10,000.00 and up to $15,000,00, exclusive................. $150.00 per share At $15,000.00 and up to $20,000.00_______________________$200.00 pershare On stocks selling at $200.00 per share and over, 50 cts. for the first $200.00 In price and 5 cts. per share additional for each $50.00 increase in Commissions on rental of Exchange stocks shall be $5.00 as a minimum price or fraction thereof. charge. The minimum commission of $2.00 on any one transaction shall not apply On rentals for periods less than one year the commission shall be pro-ratedon transactions In (a) U. S. Government bonds; (b) any bonds guaranteed provided no commission less than $5.00 shall be charged. THE MINIMUM CHARGE ON ANY ONE TRANSACTION SHALL BE $2.00 Alrey & Richardson, 816 Union St. Airey, T. L., 816 Union St. Alcus, S. F„ Jr., 603 Whitney Bldg. Barriere, E. Percy, 708 Carondelet Bldg. Beer & Co., 817 Gravier St. Bruning, H. J., 1006 Gravier St. Butler, H. M.. 1303 Canal Bank Bldg. Clark, Russell, Maritime Bldg. DANE St WEIL, Inc., 1528 Canal Bk. Bldg. Dane, Jno., 1528 Canal Bank Bldg. D’Antoni, B. S„ 708 American Bank Bldg. Emsheimer, A., 724 Common St. Eustis, Cartwright, 824 Canal St. Feibleman, T. J., 210 Carondelet Bldg. Fenner & Beane, 818 Gravier St. Fenner, Chas. E., 818 Gravier St. Fowler, H. W„ 214 Balter Bldg. Glenny. E. B.. 736 Whitney Bldg. Gray & Wilmerding, Gulf Bldg., Houston, Tex. MEMBERS Gumbel, Herbert, 610 Maritime Bldg. Huggins, Allen C., 839 Gravier St. Hyams, C. H., III., 610 Common St. Jones, Larz A., I. C. R. R. (Union Station). Jones. Larz E., 319 Hibernia Bank Bldg. Lamar, Kingston & Labouisse, 1605 Canal Bk. Bldg. Lamar, L. V., 1605 Canal Bank Bldg. Marquez, Vernon, 818 Gravier St. McLean, Chas. I., Gulf Bldg., Houston, Tex. Moore & Hyams, 610 Common St. Mysing, A. W., 722 St. Louis St. Mysing, W. A., 2724 State St. Nusloch, Geo. H., 827 Hibernia Bank Bldg. Nusloch, Baudean & Smith, Inc., 827 Hibernia Bank Bldg. Ogden, Fred N., 403 American Bank Bldg. Pierce & Co., E. A. Maritime Bldg. Plauche, Jas. J., 724 Common St. Poupart, S. J., 823 Perdido St., (Room 202). Reinacb. Solomon, 740 Gravier St. Schulze, C. H.. 1831 S. Dupre St. Stanton, Lewis H., 552 Canal Bank Bldg. Steinhardt, Jeffrey, 1528 Canal Bank Bldg. Uhlhorn, C. L„ 636 Whitney Bldg. Villere, St. Denis J., 552 Canal Bank Bldg. Vlllere & Co., St. Denis J., 552 Canal Bk. Bldg. Vincent, Hugh E„ 301 Vincent Bldg. Waters & Alcus, 603 Whitney Bldg. Weil, Walter H. (Arcade), Union Bldg. Weil, Walter H., Jr. (Arcade), Union Bldg. Well & Co., Inc.. (Arcade). Union Bldg. Wells, Chas. W., 408 Cotton Exchange Bldg. Wells & Stanton, 408 Cotton Exchange Bldg. Wheeler, Jr., A. B., 724 Common St. Wheeler & Woolfolk, 724 Common St. Williams, Geo. E., 817 Gravier St. Wolfe & Fowler, 717 Carondelet Bldg.Wolfe, Robert R., 717 Carondelet Bldg. Woolfolk, J. W., 724 Common St. Woolfolk, Huggins & Shober & Co., 839 Gravier St. MARYLAND BALTIMORE STOCK EXCHANGE (208 E. Redwood St.) Theodore Gould, Secretary Officers: Chas. W. L. Johnson, President Henry G. Riggs, Vice-President RATES OF COMMISSION F. Grainger Marburg, Treasurer M. L. Rodemeyer, Assistant Secretary-Treasurer Published December 15. 1936 Minimum Commissions on Stocks Selling at Prices Below Under 10c a share................................................................................. At 10c a share and above, but under $1........................................ At $1 a share and above, but under $10.................................... ..... At $10 a share and above, but under $50............... At $50 a share and above, but under $100......... At $100 a share and above, but under $150................... At $150 a share and above, but under $200....... At $200 a share and above................................. ............................... Abell, Walter W„ 2nd, 401 Stock Exchange Bldg. Edward D. Allen & Co., 209 Keyser Bldg. BAKER, WATTS St CO., Calvert and Red wood Sts. Baker, Wm. G., Jr., Calvert and Redwood Sts. C. D. Barney & Co., Ill Redwood St. Bell, Vernal W., Calvert and Baltimore Sts. Binford, Charles T„ 10 South St. Thomas S. Blocher, 802 Union Trust Bldg. Block, Simon J., 201 Keyser Bldg. Block, Simon J., & Son, 201 Keyser Bldg. Boyce, C. Prevost, 6 S. Calvert St. Alexander Brown & Sons, Calvert and Baltimore Sts. Brown, J. Dorsey, 404 Stock Exchange Bldg. Bruton & Co., 1520 Munsey Bldg. Bruton, M. L., 1520 Munsey Bldg. Cahn & Co., Frank B., Equitable Bldg. Carroll, Douglas G., 107-108 Stock Exch. Bld^. Cassilly, Thos. A. Jr., Stock Exchange Bldg. Castles, John W., Ill E. Redwood St. Cooper, J. C., 300 Stock Exchange Bldg. Cooper, J. Crossan, 300 Stock Exchange Bldg. Daly, Owen, 23 South St. Daly & Co., Owen, 23 South St. Davies, H. L., 500 Stock Exchange Bldg. Drewry, Cooper R., Stock Exchange Bldg. Duer, Henry L., 500 Stock Exchange Bldg. Elder, Wm. Voss, Jr., 209 Keyser Bldg. Evans, Henry C„ 6 S. Calvert St. Fahenstock, Albert, Stock Exchange Bldg. J. Harmanus Fisher & Sons, 10 South St. Robert Garrett & Sons, South and Redwood Sts. Theodore Gould, 405-6 Keyser Bldg. Griswold, Jr., B. Howell, 135 E. Baltimore St. NonMembers lc 3c 7Ho 15c 25c 40c 50c K% The minimum commission rate to non-members on any siock traded in on the Baltimore Stock Exchange and also on any other National Securities Exchange may, at the option of the member, be the Baltimore minimum commission rate or the minimum commission rate prescribed on such other National Securities Exchange. The minimum commission charged on any completed individual trans action in stocks shall be not less than $2.50, except that the commission charge on any such transaction involving a total amount of less than $50.00 but not less than $15.00 shall not be less than $1.00. When the amount involved is less than $15.00 the commission may be mutually agreed upon. Commissions on rights shall be the same as those fixed for stocks. Minimum Commissions on Bonds Selling at Prices Below Non- At 10 ($100 per $1,000 par value) or above............................ .. Under 10 ($100 per $1,000 par value)............................................. At less than 1 ($10 per $1,000 par value)............. ......................... Members $2.50 $1.25 62J^c Except that on bonds having five years or less to run to maturity and selling at 96 and above, but not above 110, the rates shall be $1.25 The minimum commission charged on any transaction in bonds shall be $2.50. MEMBERS Haxall, J. Triplett, c/o C. W. L. Johnson, 508 Poe, Philip L., 105-106 Stock Exchange Bldg. Poe & Co., Philip L., 105-6 Stock Exchange Bldg. Stock Exchange Bldg. Howard & Co., John D., South and Redwood Sts. Post, George B., Jr., 101-3 Stock Exchange Bldg. W. E. Hutton & Co., 1st N. Bk. Bldg. Post & Flagg, 101-3 Stock Exchange Bldg. Riggs, Henry G., 32 South St. Iglehart, Joseph A. W., First National Bank Bldg. Jenkins, T. Courtenay, 10 South St. Riordan, John J., Jr., 1513 Fidelity Bldg. Rogers, C. Holden, 10 South St. Jenkins, Whedbee & Poe, 10 South St. Johnson, Chas. W. L. 508 Stock Exchange Bldg. Rosenburg, Abel A., c/o Mackubin, Legg & Jones, Elisha Riggs, 402 First National Bank Bldg. Co., 222 E. Redwood St. Jones, Schefer & Co., 402 First National Bank Bldg. Schwarz, Howard S., 202 Keyser Bldg. Jones, John Marshall. 225 E. Redwood St. Schwarz, Morton & Schwarz, 202 Keyser Bldg. Jones & Co., John Marshall, 225 E. Redwood St. Scott, Geo. M., Stock Exchange Bldg. Koppelman, Walter, 219 E. Redwood St. Soper, Harry B., 312 Vickers Bldg. Kriegel. Leo, 500 Stock Exchange Bldg. Harry B. Soper & Co., 312 Vickers Bldg. Lanaham & Co., W. W., Calvert Bldg. Stein Bros. & Boyce, 6 S. Calvert St. Stewart C. Morton, Calvert and Redwood Sts. Lanahan, W. Wallace, Calvert Bldg. Legg, John C., Jr., 222 E. Redwood St. Strother, Brogden & Co., Calvert and Redwood 8ts. Leimbacb & Co., 7 St. Paul St. Strother, T. Nelson, Calvert and Redwood Sts. Leimbach, Walter G., 7 St. Paul St. Taylor, Howard R., 107 Stock Exchange Bldg. Lemoine, Oscar M., South and Redwood Sts. Howard R. Taylor & Co., 107-8 Stock Exchange Lockwood, Peck & Co., 708 Keyser Bldg. Bldg. Thompson, R. L„ 308 Vickers Bldg. Mackubin, George, 222 E. Redwood St. Tilden, Marmaduke, 708 Keyser Bldg. MACKUBIN, LEGG & CO., 222 E. Redwood St. Weilepp, Walter M., 207-8 Keyser Bldg. Marburg, Frances G., 502 - 5 Keyser Bldg. Westheimer & Co., 211 E. Redwood St. Marburg. Price & Co., 503-4 Keyser Bldg. Westheimer, Henry F., 211 E. Redwood St. Matthews, T. Stockton, South and Redwood Sts. Whedbee, James S., 10 South St. Mead, W. Carroll, 511-12-13 First National Wheeler, J. Harold, 101-3 Stock Exchange Bldg. Bank Bldg. Whelan, Jr., Thos. A., 222 E. Redwood St. Mead, Irvine & Co., 511-12-13 First National. Bank Bldg. White & Co., Henry M., 1414 Fidelity Bldg. Mitchell, Jr., C. Benjamin, 6 Calvert St. White, Henry M„ 1414 Fidelity Bldg., Whiteley, T. Evans, Stock Exchange Bldg. Morgan, Shirley C., Equitable Bldg. Whitrldge, William, Garrett Bldg. Murphy & Co., G.—M. P., Calvert Bldg. Nelson & Co., A. C., 508 Stock Exchange Bldg. Whitridge & Son, John A., Garrett Bldg. Wilson, Jr., J. Sawyer, Calvert Bldg. Nelson, Alex C„ 508 Stock Exchange Bldg. of amount of transaction Further Information on firms appearing In bold face type will be found In the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1664 MASSACHUSETTS BOSTON STOCK EXCHANGE 53 State Street Officers: William B. Long, Pres. Stephen Paine, Mark R. Hodges, Vice-Pres. Tr. George A. Rich, Sec. Henry E. Tracy, Asst. Sec. MINIMUM BATES OF COMMISSION In Effect July 7, 1933 BONDS Railroad, public utility and industrial bonds, having more than five years to run— Selling at less than $10, on a par value of $1,000............................ Optional Selling at $10 and less than $100 on a par value of $1,000...................$1.25 Selling at and above $100 on a par value of $1,000............................... 2.50 (Government Bonds are exempt from the regular rate) Selling at $25 or above, but under $50........................................... 15 cents Selling at $50 or above, but under $75........................................... 17H cents Selling at $75 or above, but under $100......................................... 20 cents Selling at $100 or above, but under $200.._________________ 25 cents Selling at $200 or above, but under $250....................................... 30 cents For each additional $50 or part thereof above $250.......... 5 cents additional STOCKS FEB SHABE The minimum commission on each completed individual transaction shall not be less than one dollar, except that on transactions involving less than fifteen dollars the charge may be optional. Selling below 50c............................................ -....................................Optional Selling at 50o or above, but under $1.............................................. 1 cents Selling at $1 or above, but under $5................................................ 5 cents Selling at $5 or above, but under $10.............................................. cents Selling at $10 or above but under $25...........................................12H cents On subscription Rights; Bonds or Notes of Foreign Countries having five years or less to run; Notes of Corporations having five years or less to run; Bonds having five years or less to run; such rates to members or nonmembers as may be mutually, agreed upon; provided, however, that the Committee on Commissions with the approval of the Governing Committee, may hereafter determine special rates on any or all of the above mentioned securities. MEMBERS Adams, L. Sherman, 10 Post Office Square Adams, Weston W., 15 Congress St. Amsdem, Malcolm F„ 53 State St. J. S. BACHE & CO., 10 Post Office Square. Baldwin & Co., 30 Federal Street. Batchelder, Hanrahan & Co., State Mutual Bldg., Worcester, Mass. Besse, Harry W. & Co., 89 State St. Blake Bros. & Company, 111 Devonshire Street. Bolles, Richard F., 35 Congress St., Room 1003. Bowen, J. W. & Co., 53 State Street, Rooms 27, 28. Boyden, Charles, 50 Congress St., Room 628. Bradley, Edward M., 215 Church St., New HavenConn. Brannan, Wm. J., 75 Federal St. Brickley (Parker, A.) 296 Temple, West Roxbury. Bright, Elmer H. & Co., 84 State Street. Bright, Sears & Co., 53 State Street. Brown Brothers Harriman & Co., 10 P. O. Square. Brown, Waldo M„ 31 Milk St. Brown, Walter J., 53 State St., Room 405. Burr, Gannett & Co., 53 State Street. Buss, Walter H., 53 State St. Butterfield, Chas. B., 53 State St., Room 36B. Cahill, Richard M. F., 53 State St. Claflin, William H., 84 State St. Clark, Dodge & Co., 70 Federal Street. Collins, Breed & Co., Shawmut Bk. Bldg. Colwell & Co., 209 Washington Street. Cousens, Foster, & Co., 53 State St. Crocker, Percy G. & Co., 35 Congress Street. Dabney, F. L. & Co., 10 Post Office Sq. Dabney, Frederick L„ 53 State St., Room 439. Davis & Davis, 10 Weybosset St., Providence, R. I. DAT, K. L. A CO., 45 Milk Street. Dean, James, 201 Devonshire St., Room 631. ESTAB&OOK & CO., 15 State Street. Tales, T. C. & Co., 140 Federal Street. Fay, S. Prescott, Framingham Centre, Mass. Fernald, Lloyd D., 3d Nat’l Bank Bldg., Springfield, Mass. Foster, Hatherly, Jr., 85 Devonshire St. Foster, John K., 53 State St. Oagen, T. F. & Co., 53 State Street, Room 36A. Gilbert, Edward W., 53 State St., Room 36 B. Giroux, Archibald R„ 53 State St., Room 36B. Gray & Wilmerding, 31 Milk St. Griffith, Norman H., 60 Congress St„ Room 411 Hammond, James R., 30 State St. Hanlon, Gordon B„ & Co., 100 Milk St. Hayden, Stone & Co., 75 Federal Street. Hlbbs, W. B„ & Co., Hibbs Bldg., Washington, D. C. Hines, Robertson & Co., 60 Congress Street. Hodgdon, Howard W., 84 State St. Hornblower, Henry, 60 Congress St. Hornblower & Weeks, 60 Congress St. Hovey, Chandler, & Co., 82 Devonshire Street, Room 326. Hubbard, Richard, 10 Post Office Square. Hunt, Carleton, 24 Federal St. Hutchins & Parkinson, 53 State Street. Jackson & Curtis, 10 Post Office Square. Jenney, Wm. T., 84 State St. Kelly, Michael A.. 84 State St. KIDDER, PEABODY & CO., 115 Devonshire Street. Kingsbury, Thayer, Keene, N. H. Kinsley & Adams, 6 Norwich St., Worcester, Mass. Kitchlng, E. J. & Co., 75 Federal Street. Laldlaw A Co., 110 Franklin Street Lee, Frederic M„ 53 State St., Room 36A. Lee, Higginson & Co., 50 Federal Street. Leland, John D., 110 Franklin St. Logan & Bryan, 42 Broadway, New York, N. Y. Long, Harry V., 10 Post Office Square. Long & Nash, 10 Post Office Square. Lord, George F„ 18 Wave St., Lynn, Mass. Lund, Chas. G„ 110 Franklin St. Mott, Louis P. & Co., 80 Federal Street, Room 308 Newman, Harding C„ 10 Post Office Square. Paine, Webber & Co., 24 Federal Street. Parkinson, Nathaniel E„ 53 State St. Pierce & Co., E. A., 24 Federal Street. Pitcher, Osborne H„ 111 Devonshire. Pitman, Harold A., 53 State St., Room 1032. Poor, Stearns, 84 State St. Prince, F. H., & Co., Court and Washington Sts. Proctor, Cook & Co., 35 Congress Street. Reed, Jacob, 8 Foster St., Worcester, Mass. Rich, Geo. A., 53 State St. Sanford & Kelley, 20 Market St., New Bedford, Mass. Schirmer, Atherton & Co., 79 Milk Street. Sears, Winslow, 68 Devonshire St. Sewall, R. Lentner, 60 State St. Shaw, Alexander A., 53 State St., Room 36B Simmon, David A., & Co., 10 Post Office Square. Smith, Edward B. & Co., Ill Devonshire St. Smith, James P. & Co., 1387 Main St., Springfield, Mass. Southgate & Co., 185 Devonshire St. Stevens, Samuel W., 45 Milk St. Thomson & McKinnon, 10 Post Office Square. Thorndike & Allen, 53 State Street, Room 310. Thornquist, Carl J., 53 State St., Room 36B. Tifft Brothers, 50 Congress Street. Tobey, Walter P., 84 State St. Todd, Charles Lee, Jr., Ill Devonshire St. TOWNSEND, ANTHONY & TYSON, 30 State Street. Treadwell, James R„ 53 State St., Room 203. Tucker, Anthony & Co., 74 State Street. Wainwright, H. C. & Co., 60 State Street, Room 101. MOSELEY, F. S. & CO., 50 Congress Street. Webber, Ralph B., 53 State St., Room 36B. Whitney, Byam & Co., 53 State Street, Room 633. Whitney & Elwell, 30 State Street. Wiggin, Russell B., 53 State St., Room 36B. Williams, Robert W., 53 State St., Room 36B. Winsor, Kennard, 115 Devonshire St. Worden, William M., 84 State St. Worthen, Nathaniel T., 68 Devonshire St. Wrenn Bros. & Co., 30 Federal Street. Moseley, Frederick S„ 50 Congress St. Yerxa, John E., 30 State St. Mann & Gould, 35 New Derby St., Salem, Mass. Monahan, Edward C., 50 Congress St. Montgomery, Wm. P„ Jr., 53 State St. Moors & Cabot, 111 Devonshire Street. Moran, John J. & Co., 53 State Street, Room 636. Morgan, J. P„ & Co., 23 Wall St.. New York, N. Y. Further Information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank fist in each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1665 STOCK EXCHANGE MEMBERS MICHIGAN DETROIT STOCK EXCHANGE (415 Griswold St.) Officers: Frederick J. Winckler, President; Clark C. Wickey, Assistant to the President; George A. Miller, Vice-President; Clark J. W. Colby, Secretary; Lawrence C. Angstrom, Treasurer. COMMISSION KATES Stocks selling under 50c per share, 2% of amount involved. Stocks selling at 50c per share and above, but under $1.00, not less than 1c per share. Stocks selling at $1.00 per share and above, but under $10.00, not less than 7J^c per share. Stocks selling at $10.00 per share and above, but under $25.00, not less than 12Hc per share. Stocks selling at $25.00 per share and above, but under $50.00, not less than 15c per share. Stocks selling at $50.00 per share and above, but under $75.00, not less than 17^c per share. Stocks selling at $75.00 per share and above, but under $100.00, not less than 20c per share. Stocks selling at $100.00 per share and above, but under $200.00. not less than 25c per share. Stocks selling at $200.00 per share and above, but under $250.00, not less than 30c per share. For each additional $50.00 In price, 5c additional. The minimum commission on all transactions in listed securities shall not be less than $3.00 to Individuals and $2.00 to institutions, except in cases where the amount involved is $50.00 or less, the minimum commission may then be, at the discretion of the member, $2.00 to individuals and $1.00 to institutions. MEMBERS Alison Sc Co.. 244 Buhl Bldg. Angstrom, Lawrence C„ 904 Penobscot Bldg. Avery & Co., 1502 Penobscot Bldg. Avery, Clarence F., 60 Broad St., New York, N. Y. Babbitt, Vogel & Co., 1880 Penobscot Bldg. BACHE, J. 8. & CO., 735 Griswold St. Baker, Simonds A Co., 1134 Buhl Bldg. Balcom, Yorke R„ 1464 Penobscot Bldg. Beane, A. C., 67 Broad St., New York. N. Y. Beard, Frederick H., 1880 Penobscot Bldg. Bennett, Smith A Co., 640 Griswold Street. Bollinger, Paul T., 1904 Penobscot Bldg. Brown, Orman E., 1464 Penobscot Bldg. Butler, James M., 328 Penobscot Bldg. Butler & Co., J. M., 328 Penobscot Bldg. Crouse A Co., 1800 Penobscot Bldg. Crouse, Charles B„ 1800 Penobscot Bldg. Dominick & Dominick, 314 Ford Bldg. Eis, Valette R„ 244 Penobscot Bldg. Ellwood, Aaron A., 639 Penobscot Bldg. Esch, Ingo A., 120 Broadway, New York. Farrelly, Francis T„ Union National Bank Bldg., Youngstown, Ohio. Fenner & Beane, 600 Union Guardian Bldg. Ferriss, W. Paul, 904 Penobscot Bldg. Ferriss, Wagner A Miller, 1444 Buhl Bldg. Field, McDonald & Co., 1000 Buhl Bldg. Goodbody & Co., 1 Penobscot Bldg. Goodbody, John L., 115 Broadway, New York, N. Y. Gray, Hugh M., 1866 Penobscot Bldg. Hague, Samuel, 1446 Penobscot Bldg. Hay, Ivan O., 1753 Union Guardian Bldg. Hay, Ivan C. & Co., 1753 Union Guardian Bldg. Hentz, H. &. Co., Union Guardian Bldg. Hinshaw, Joseph, 344 Buhl Bldg. Hornblower & Weeks, 244 Penobscot Bldg. Hulburd, Warren & Chandler, 208 S. LaSalle St., Chicago, Ill. Humphries, Angstrom & Co., 904 Penobscot Bldg. HUTTON, W. E. & CO., Fisher Bldg. Keane & Co., 1866 Penobscot Bldg. King, Boug, Stodgell & Co., 224 Penobscot Bldg. Knight, James W., 1956 Penobscot Bldg. Knight & Co., J. W.t 1956 Penobscot Bldg. Kreidler, Chas. A., 244 Buhl Bldg. Larzelere, Joseph E., 224 Penobscot Bldg. Lee & Co., William M., 613 Ford Bldg. Lewine, Jerome, Hanover Square, New York, N. Y. Livingstone, S. R., 1356 Penobscot Bldg. Livingstone, S. R. & Co., 1356 Penobscot Bldg. MacCrone, Edw. E., 2664 Penobscot Bldg. Marks, A. L., 314 Ford Bldg. Marks, Burton, 775 Penobscot Bldg. McDonald, Claude G., 1000 Buhl Bldg. McLean, John F., 1806 Penobscot Bldg. McLean A Co., John F„ 1806 Penobscot Bldg. Miller, George A., 1444 Buhl Bldg. Moody, Bollinger & Co., 1904 Penobscot Bldg. Moss, W. E„ 2416 Uiron Guardian Bldg. Moss, W. E. A Co., 2416 Union Guardian Bldg. Moye, G. Gordon, 613 Ford Bldg. Newcomb, John J. & Co., 1464 Penobscot Bldg. Noble, Herbert W., 306 Dime Bank Bldg. O’Donnell, R. C., 2166 Penobscot Bldg. O’Donnell & Co., R. C., 2166 Penobscot Bldg. O’Hara, John F., 244 Buhl Bldg. Olson, Warren T„ 2416 Union Guardian Bldg. Paine, Webber & Co., 100 Penobscot Bldg. Parcells, Charles A., 639 Penobscot Bldg. Parcells, Charles A. & Co., 639 Penobscot Bldg. Phelan, Jr., James J., 244 Penobscot Bldg. Pierce & Co., E. A., 300 Buhl Bldg. Porter, Stuart P., 1134 Buhl Bldg. Prentiss, John W., 42 Broadway, New York, N.Y. Rathbun, C. E., 866 Penobscot Bldg. Rathbun A Co., 866 Penobscot Bldg. Reid, Andrew C„ 2232 Union Guardian Bldg. Reilly, R. W„ 1166 Penobscot Bldg. Roney, Wm. C. A Co., 2232 Union Guardian Bldg. Rotsted, Ralph, 1753 Union Guardian Bldg. Rudel, Arthur, 1800 Penobscot Bldg. Ryan, Jas. E., 2526 Union Guardian Bldg. Ryan & Company, Jas. E., 2526 Union Guardian Bldg. Schlachman. Max, 1356 Penobscot Bldg. Schlachman, Sol, 1356 Penobscot Bldg. Seitz, Harry J., 12 Washington St., Monroe, Mich. Seitz & Gearhart, 12 Washington St., Monroe, Mich. Shader-Winckler Co., 204 Penobscot Bldg. Simonds, Ralph W., 1134 Buhl Bldg. Small, Sidney R., 2356 Penobscot Bldg. Small A Co., Sidney R., 2356 Penobscot Bldg. Smith, Winthrop H., 105 W. Adams St., Chicago, Ill. Soucy, Swartswelter & Co., 161 Devonshire St., Boston, Mass. Stanton, Frederick W., 629 Penobscot Bldg. Stern, Morton F„ 42 Broadway, New York, N.Y. Stewart, A. Clifton, 640 Griswold St. Stout, Gardner D., 115 Broadway, N. Y. Sutro Bros. & Co., 137 Penobscot Bldg. Walker, Wm. T„ 1304 Penobscot Bldg. Watling, Lerchen A Hayes, 344 Buhl Bldg. Wedthoff & Co., Guy G., 2956 Penobscot Bldg. White, Paul G., 904 Penobscot Bldg. Whitlock, Smith & Co., 1446 Penobscot Bldg. Winckler, F. J., 204 Penobscot Bldg. Withrow, Atkinson W„ 208 S. LaSalle St., Chicago, Ill. Wood, Warren A., 244 Buhl Bldg. Woodruff, D. M., 1666 Penobscot Bldg. Woodruff A Co., D. M., 1666 Penobscot Bldg. Wright, John C., 2066 Penobscot Bldg. Wright, Martin & Co., 2066 Penobscot Bldg. MINNESOTA MINNEAPOLIS — ST. PAUL STOCK EXCHANGE Officers: Todd W. Lewis, President; Howard R. Selover, First Vice-President; D. H. Brown, Second Vice-President; R. M. Rice, Secretary and Treasurer. COMMISSION KATES Effective April 12, 1937 NON-MEMBERS Stocks selling under 50 cts. per share.................................... 2 cts. per share From 50 cts. to $1.00........................................._.................. 3 cts. per share $1.00 to $10.00.................. .................................................. Ty cts. per share $10.00 to $25.00............ ................................................... 12^ cts. per share $25.00 to $50.00................ ............................-...................... 15 cts. per share $50.00 to $75.00.................................................. ..............17 cts. per share $75.00 to $100.00.................................................... ..............20 cts. per share $100.00 to $200.00.............. ........................ .......... ..............25 cts. per share At $200.00 and up rate increased $5.00 per 100 each 50 points. Minimum $3.00 if gross amount is $100 or under $200. $5 if $200 and over. Transactions amounting to less than $100.00—commission at discretion of members. Rights—same as stocks. Bonds per $1,000.00 and less_________________________________$2.50 MEMBER TO MEMBER—Give-up Rates. Stocks selling under 50c per share............ .................................. J^c pershare 50c to $ 1.00_________________________________ jj^c pershare $ 1.00 to 10.00__________________________________ 2c pershare 10.00 to 100.00__________________________________ 3c pershare 100.00 to 150.00__________________________________ 4c pershare 150.00 and over...--------------------------------------------------,--- 5c per share Minimum 50c for stocks selling under $10.00 per share. Minimum $1.00 for stocks selling at $10.00 and over per share unless gross amount is under $100—Minimum then 50 cts. Rights—Same as Stocks. Bonds per $1,000.00 or any part--____ ________________ Minimum 50c. Names not given up on any stocks, bonds, etc., minimum—double the give-up rate. MEMBERS ALLISON WILLIAMS CO., 1245 Northwest Bank Bldg., Minneapolis. Bigelow-Webb & Co., 1st Nat’l-Soo Line Bldg. Minneapolis. Greenman & Cook, Inc., 1408 E. 1st Natl. Bk. Bldg., St. Paul. Harris-Upham & Co., 11 Wall St., New York, N. Y. Kalman A Company, 144 Endicott Bldg., St. Paul. Lewis A Co., 601 Second Ave. Minneapolis. Mahoney A Co., C.D., 504 Roanoke Bldg., Minne apolis. Manheimer-Caldwell, Inc., 113 First National Bank Bldg., St. Paul. Molyneaux, J. J„ 15 S. 5th St., Minneapolis. Paine, Webber & Co., Rand Tower, Minneapolis. PIPER, JAFFRAY & HOPWOOD, 115 S. 7th St., Minneapolis. Rice, Robert M., 630 Marquette Ave., Minne apolis. Selover, H. R., & Co., 500 Roanoke Bldg., Minne apolis. Smith & Co., Wharton C., 106 E. 4th St., St. Paul. A. O. Slaughter & Co., 14 Wall St., N. Y. Thrall West Co., 110 Northwest National Bank Bldg., Minneapolis. Wells-Dickey Company, Metropolitan Bank Bldg., Minneapolis. Wood, Harold E„ A Co., W. 2662 1st Nat’l Bk. Bldg., St. Paul. WOODARD-ELWOOD & Tower, Minneapolis. CO., 840 Rand Farther information on firms appearing in bold face type will be found In the selected list of Investment Dealers following bank list in each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1666 STOCK EXCHANGE MEMBERS MISSOURI ST. LOUIS STOCK EXCHANGE Officers: B. F.Jacobs, President; J. W. Reinholdt, Jr., Vice-President; W. M. Louderman, Secretary and Treasurer. Chas. A.Huebner, Assistant Secretary. KATES OF COMMISSION STOCKS Stocks selling at $1.00 per share or less, $2.00 per 100 shares. Stocks selling at $1.12^ per share and less than $3.00 per share, $3.00 per 100 shares. Stocks selling at $3.00 per share and less than $5.00 per share, $5.00 per 100 shares. Stocks selling at $5.00 per share and less than $10.00 per share, $7.50 per 100 shares. Stocks selling at $10.00 per share and less than $25.00 per share, $0.12>4 per share. Stocks selling at $25.00 per share and less than $100.00 per share, $0.25 per share. Stocks selling at $100.00 per share and less than $300.00 per share, $0.50 per share. Stocks selling at $300.00 per share and less than $500.00 per share, $0.75 per share. Stocks selling at $500.00 per share and over, $1.00 per share. BONDS On bonds, $2.50 per $1,000 par value. U. S. Bonds, $0.62^ per $1,000 par value. The minimum commission to be charged shall be $1.00. MEMBERS Aid, John A., 400 Olive St. Barklage, Louis, 317 N. 4th Street. Bauer Bros. Brokerage Co., 312 North 4th Street. Bennett, Jas. E. & Co., 705 Olive Street. Berger-Cohn & Co., Landreth Bldg. Brown, Paul & Company, Paul Brown Bldg. Crago, Hitchcock & Co., Security Bldg. Daly & Craib, 9th and Locust. D’Oench, Duhme & Co., Franklln-Am.Tr. Bldg. EDWARDS, A. G. & SONS, 499 North 8th St. FRANCIS BRO. & CO., 222 N. 4th St. Friedman, Brokaw & Samish, 711 St. Charles St. Fusz, Schmelzle & Co., Boatmen’s Bank Bldg. Gatch Bros., Jordan & McKinney, 418 Olive St. Gessler, E. A. & Son, Merchants-Laclede Bldg. Giger & Co., 211 N. 4th St. E. E. Haverstick, Jr., & Co., 346 N. Bovle Ave. Hill Brothers, Security Bldg. Jones, Edw. D. & Co., Boatmen’s Bank Bldg. Knight & Co., Harry H„ 403 Olive St. Little & Hays Inv. Co., LaSalle Bldg. Louderman, W. M., Bank of Commerce Bldg. Meyer, J. P., Chemical Building. NEWHARD, COOK & CO., 400 Olive St. Otto, Edw. F., No. 6 Sunset Court, Normandy, Missouri. P. L. Papin & Co., Merchants-Laclede Bldg. Preiss, Wibbing & Co., Security Bldg. REINHOLDT & GARDNER, Security Building H. L. Ruppert & Co., 400 Pine Street. Seddon, Morflt & Harvey, Landreth Bldg. Semple, Jacobs & Co., Rialto Building. SIMON, I. M. A COMPANY, 315 North 4th St. Smith, Moore & Co., LaSalle Bldg. STIFEL, NICOLAUS it CO., Boatmen*! Bank Bldg. Stix & Company, LaSalle Bldg. Taussig, Day & Co., Boatmen’s Bank Bldg. Wade. Festus J. & Co., Columbia Bldg. WALDHEIM, PLATT & CO., 306 N. 8th St. WALKER, G. H. it CO., Broadway St Locust Streets. Whitaker & Company, 300 North 4th Street. NEW YORK NEW YORK STOCK EXCHANGE Officers: Charles R. Gay, President; Walter L. Johnson, Vice-President; Dean K. Worcester, Executive Vice-President; Benjamin H. Brinton, Treasurer; Robert W. Keelips, Assistant Treasurer; Robert L. Fisher, Secretary; J. M. B. Hoxsey, Executive Assistant to the Committee on Stock List; John Dassau, Comptroller. COMMISSION Rates to Non-members, etc. On business for governing members and for parties not members of the Exchange, including joint account transactions in which a non-member is interested; transactions for partners not members of the Exchange; the commission shall be not less than the rates given below: Sec. 2 provides that commissions shall be calculated on the basis stated below; ON STOCKS (except as to Ten-Share-Unit Stocks) See also Called Stocks below: Under 50c per share............ ...................... ..... May be mutually agreed upon 60c per share and above, but under $1.00__ Not less than 3c per share $1.00 per share and above, but under $10.00.Not less than 7V^c per share $10.00 per share and above, but under $25.00........................................................... Not less than 12J^c per share $25.00 per share and above, but under $50.00............ .............................................. Not less than 15c per share $50.00 per share and above, but under $76.00________________ _____________Not less than 17Hc per share $75.00 per share and above, but under $100.00......................................................... Not less than 20c per share $100.00 per share and above, but under $200.00.......... ......................... ..................Not less than 25c per share $200.00 per share and over............................. Not less than 30c per share plus 5c per share for each $50.00 or fraction thereof be ginning at $250.00 The minimum commission (on stocks selling at 50c and above) on an individual transaction shall be not less than $1.00. This provision shall not apply on transactions where the amount involved is less than $15.00 ON TEN-SHARE-UNIT STOCKS (as designated by the Committee of Arrangements) See also Called Stocks below: Under $1.00 per share--------------------- -------May be mutually agreed upon $1.00 per share and above, but under $5.00..Not less than 5c per share $5.00 per share and above, but under $10.OO.Not less than 10c per share $10.00 per share and above, but under $100.00........................................... .............Not less than 20c per share $100.00 per share and above, but under $200.00..... Not less than 25c per share $200.00 per share and over................................Not less than 30c per share plus 5c per share for each $50.00 or fraction thereof be ginning at $250.00 RATES ON SUBSCRIPTION RIGHTS Under 50c per Right------------------------------ May be mutually agreed upon 50c per Right and above, but under $1.00..Not less than 3c per Right $1.00 per Right and above, but under $5.00.Not less than 5c per Right $5.00 per Right and above, but under $10.00.Not less than 7j^c per Right $10.00 per Right and above______ _______ Not less than 15c per Right ON BONDS: per $1,090 of principal (except as stated below) Under $10.00------------------------------------------------------- Not less than 75c $10.00 and above but under $100.00............................ Not less than $1.25 $100.00 and above...........................................................Not less than $2.50 On Obligations of the United States, Puerto Rico, Philippine Islands, and States, Territories and Municipalities therein: Bonds or Notes having five years or less to run: Securities which, pursuant to call or otherwise, are to be redeemed within twelve months: Such rates to members or non-members as may be mutually agreed upon, provided, however, that the Committee on Quotations and Commissions may determine special rates on any or all of the above mentioned securities, reporting the same to the Governing Committee. Under this authority the Committee has ruled that commissions shall be not less than the rates given below. ON BONDS OR NOTES HAVING FIVE YEARS OR LESS TO RUN, AND BONDS AND NOTES WHICH, PURSUANT TO CALL OR OTHERWISE ARE TO BE REDEEMED WITHIN TWELVE MONTHS (Per $1,000 of principal): Under $10....................... ................... ....................... ...Not less than 75c. $10 and above but under $100.............. ......................... Not less than $1.25 $100 and above but under 96% or over 110% of the redemption price...................................... .................Not less than $2.50 Not less than 06% or more than 110% of the redemption price: Six months or more......................... ................................Not less than $1.25 Less than six months----------- ------ ----------- May be mutually agreed upon ON OBLIGATIONS OF THE UNITED STATES, Puerto Rice, Philip pine Islands and States, Territories and Municipalities therein ................................................................May be mutually agreed upon ON CALLED STOCKS On stocks which, pursuant to call or otherwise, are to be redeemed within twelve months........ ....................................... May be mutually agreed upon Fwrtber Information on firms appearing in bold face type will be found In the selected list of Investment Dealers following bank Ust in each city- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1667 NEW YORK STOCK EXCHANGE MEMBERS Abbott, Proctor & Paine, 120 Broadway Abraham & Co., 120 Broadway Acosta, J. A. & Co., 60 Beaver St. Adams, Merrill & Co., 36 Pearl St., Hartford, Conn. Adler, Blumenthal & Co., 1 Wall St. Adler, Coleman ft Co., 15 Broad St. Adrian, Jos. M„ 42 Broadway Ahern, John J., 61 Broadway. Alker, Carroll B., 61 Broadway. Andersen, Oswald, 115 Broadway. Anderson & Co., 120 Broadway Anderson, Henry A., 47 Broad St. Andrews, Posner & Rothschild, 25 Broadway Anness, Edw. C., 1 Wall St. Appenzellar, Allen & Hill, 120 Broadway Apy, Chester, 47 Broad St. Arnold & Company, 25 Broadway Aronson (Bernard) & Co., 30 Broad St. Arrowsmith & Co., 120 Broadway. Ash ft Co., Mervin, 1 Wall St. Asher, Harry W„ Jr., 60 Beaver St. ASIBL ft CO., 11 Wall St. Astor & Ross, 39 Broadway. Atkins, Hamill & Gates, 204 Electric Bldg., Indianapolis, Ind. Atterbury, Robert R., 44 Wall St. Auchincloss, Mills & Bergen, 80 Broad St. Auchincloss, Parker & Redpath, 719 15th St., Washington, D. C. Auerbach, Poliak & Richardson, 30 Pine St. Baar, Cohen & Company, 120 Broadway BABCOCK, RUSHTON ft CO., 50 Broadway Bach, Frederick F., 29 Broadway. BACHE ft CO., J. S., 42 Broadway Bacon, Stevenson & Co., 39 Broadway. Bade, William H., 40 Wall St. Baker (Alfred L.) & Co., Ill So. La Salle St., Chicago, 111. Baker (J. E.) & Co., 14 Wall St. Baker, Watts & Co., Calvert & Redwood Sts., Baltimore, Md. Baker, Weeks & Harden, 52 Wall St. Ballard & Co., 43 Pearl St., Hartford, Conn. Bamberger, L. Richard, 1 Wall St. Bamberger, Max, 15 Broad St. Barbee, Harry, 40 Wall St. Barclay, Moore & Co., Fidelity-Phila. Trust Bldg., Philadelphia, Pa. Barney & Co., Chas. D., 14 Wall St. Barnwell, Arthur & Co., 100 Broadway Baroni, William J., 50 Broadway. Barrett & Company, 40 Exchange Place Barth, J. & Co., 482 California St., San Francisco, Calif. Bartholomae, H. J„ 47 Broad St. Bartlett, Benj. D. & Co., 313 Vine St., Cincinnati, Ohio. Baruch, Sailing W., 60 Beaver St. Bean, Chas. H. & Co., 1528 Walnut St., Phila delphia, Pa. Bear, Stearns & Company, 1 Wall St. Beardsley, Sterling S., 67 Broad St. Beauchamp, Thomas J., 40 Wall St. Becker, Sherburn M., 1 Wall St. Beekman, Wm. B. & Co., 20 Broad St. Beer & Company, 30 Broad St. Belden & Co., 61 Broadway. Bell & Beckwith, 40 Wall St. Bendix, Luitweiler & Co., 52 W'all St. Benedict, E. C. & Co., 61 Broadway Benjamin & Ferguson, 61 Broadway Benjamin, Hill & Company, 39 Broadway Bennet (Leslie L.) & Company, 60 Broadway. BENNETT BROS. & JOHNSON, 1 Wall St. Bennett, James E. & Co., 50 Broadway Bennett & Palmer, 165 Broadway Bennett, Smith & Co., 640 Griswold St., Detroit, Mich. Berdell Bros., 1 Wall St. Berg, Eyre & Kerr, 50 Broadway Berliner & Co., 25 Broad St. Bernard, Winkler & Co., 25 Broad St. Bernheimer, Edwin E., 1 Wall St. Biddison & Co., N. D., 39 Broadway. Biddle, Whelen & Co., 1606 Walnut St., Phila delphia, Pa. Biggs, Mohrman & Co., 61 Broadway. Billings, Olcott & Company, 52 Broadway Bilofsky, Maxwell M., 1 Wall St. Bioren & Co., 1508 Walnut St., Philadelphia, Pa. Birdsall & Hess, 39 Broadway Bird, W. Gillette, 11 Broadway. Bishop, Allen Reynolds, 1 Wall St. Bissinger & Co., 225 Montgomery St., San Fran cisco, Calif. Blake Brothers & Co., 40 Wall St. Blauner, Simons & Co., 39 Broadway Blinn, Prosper J., 42 Broadway. Bliss, Julius, 24 Broad St. Bloch, Elmer M., 120 Broadway. Block, Myron H., 39 Broadway. Blumenthal Bros., Ill Broadway. Blumenthal, Simon B., 50 Broadway. Blun, George E., 165 Broadway. Blyth, Bonner & Kimbley, 52 Wall St. Bodell & Co., 32 Custom House St., Providence, R. I. Bogert & Co., Beverley, 120 Broadway. Bonbright, George D. B. & Co., 100 Powers Bldg., Rochester, N. Y. Bonner & Gregory, 14 Wall St. Boody, McLellan ft Co., Ill Broadway Boston, Paul R„ 47 Broad St. Bouvier, Bishop & Co., 52 Broadway. Bowen, J. W. & Co., 53 State St., Boston, Mass. Bradford, J. C. & Co., Nashville Trust Bldg., Nashville, Tenn. Bradley, F. J. & Co., 1 Wall St. Bradshaw, Sydney P., 61 Wall St. Bramley ft Smith, 52 Broadway Branch, Cabell & Co., 814 E. Main St., Richmond, Va. Brand, Grumet ft Co., 120 Broadway Brand, Michael J., Jr., 47 Broad St. Brandenburg & Co., Ill Broadway Braumuller, Charles, 47 Broad St. Bregman, Abner, 1 Wall St. Brelning ft Co., 17 Battery Place Bright, Elmer H. & Co., 84 State St., Boston, Bright, Sears & Co., 53 State St., Boston, Mass. Brinton & Co., 61 Broadway Britt, Richard J., 25 Broadway. Brody, L. J. Stephen, 109 Killdeer Rd., Hamden, Conn. Brooks & Co., J. H., 120 Broadway. Brown, Alex. & Sons, 135 East Baltimore St., Baltimore, Md. BROWN BROTHERS, HARRIMAN ft CO., 59 Wall St. Brown, Geo. Estabrook, 49 Broad St. Brown, James M. Jr., 47 Broad St. Brown, Paul & Co., Paul Brown Bldg., St. Louis, Mo. Brown, Vernon H., 61 Broadway. Brown & Co., Vernon C., 71 Broadway. Brown & Gruner, 120 Wall St. Brumley & Anderson, 120 Broadway Bruns, Edwin G„ 11 Wall St. Bruns, Edwin G. Jr., 11 Wall St. Bryan, Penington & Colket, 48 Wall St. Buckley, John F„ 47 Broad St. BULL & ELDREDGE, 39 Broadway. BURNET (W. E.) & CO., 11 Wall St. Burnham & Company, 61 Broadway. Burnside, I. H. & Co., 80 Broad St. Burr, Gannett & Co., 53 State St., Boston, Mass. Burton, Cluett & Dana, 120 Broadway Burton, Crawford, 65 Broadway. Bushnell, Henry Thompson, 1 Wall St. Butcher & Sherrerd, Real Estate Tr. Bldg.. Philadelphia, Pa. Butler, Herrick & Marshall, 30 Broad St. Butler, Wick & Co., Union National Bldg., Youngstown, Ohio. Buttenwieser, Clarence, 25 Broad St. Byck & Broads, 39 Broadway Byram, Hobart R„ 42 Broadway. Byrne, James F., 30 Broad St. Bywater & Leary, 31 Nassau St. Cahill, Robert L., 15 Broad St. Cahn, Frank B. & Co., Equitable Bldg., Baltimore, Md. Cahn, Joel G., 120 Broadway. Callaway, Fish & Co., 15 Broad St. Campbell & Co., H. G., 52 Broadway Campbell, Oliver S., 11 Broadway. Carey, Denis J., 42 Broadway. Carey, H. T. & Co., 50 Broadway Carlebach, Herbert L„ 60 Broad St. Carlebach, Walter M„ 60 Broad St. Carleton, Alexander, 14 Wall St. Carlisle, Jay F. Jr., 50 Broadway. Carlisle, Melllck & Co., 50 Broadway Carmichael & Carson, 52 Wall St. Carreau & Co., 63 Wall St. Carstairs & Co., 220 So. 16th St., Philadelphia, Pa. Carstens, Geo., 42 Broadway Carter & Co., 48 Wall St. Caspary, A. H. & Co., 60 Broadway. Cassatt & Co., 40 Wall St. Cassel, H. & Co., 61 Broadway Cavalier, Wm. & Co., 121 Sutter St., San Fran cisco, Calif. Ceballos, Juan M., 42 Broadway. Chambers, Henning & Co., 431 W. Jefferson St., Louisville, Ky. Chapin, S. B. & Co., Ill Broadway Chaplin & Co., 52 Broadway Chauncey & Co., 61 Broadway Chisholm & Chapman, 52 Broadway Clapp, Howard F., 50 Broadway. Clark, Dodge & Co., 61 Wall St. Clark, E. W. & Co., Locust & 16th Sts., Phila delphia, Pa. Clement, Curtis & Co., 231 So. La Salle St. Chicago, Ill. Clews & Co., Henry, 7-9-11 Broadway. Cloud, John K., 120 Broadway. Clucas & Company, E. W„ 70 Pine St. Coddington, Dave H., 50 Broadway. Coggeshall & Hicks, 111 Broadway Cohen, Edward L„ 52 Wall St. Cohen, Simonson & Co., 30 Broad St. Cohen, Wachsman & Wassail, 70 Pine Street Cohtl Brothers, 24 Broad St. Coleman, Eliot W„ 42 Broadway. Coleman, Townsend P., 42 Broadway. Colgate, Jas. B. & Co., 44 Wall St. Collin, Norton & Co., Gardner Bldg., Toledo, Ohio. Collins, David M., Bowood, West Orange, N. J. Collins, John T., 50 Broadway. Combs, Wm. H. & Co., 61 Broadway. Cone, Henry H. Jr., 50 Broadway. Connelly & Co., F. J., 15 Broad St. Conried & Co., 25 Broadway. Content & Co., H., Ill Broadway. Conway (Norton) & Co., 52 Wall St. Cook, Charles K„ 40 Wall St. Cooke & Co., 40 Wall St. Cooke, James F„ 42 Broadway. Cooley & Co., 100 Pearl St., Hartford, Conn Corlies & Booker, 90 Broad St. Coster, Gerard H„ 1 Wall St. Coulon & Co., E. J., 50 Broadway. Courts & Co., 11 Marietta St., Atlanta, Ga. Coward, Raymond A., 40 Wall St. Cowen & Co., 54 Pine St. Cox, E. Van Dyke, Jr., 42 Broadway. Craigmyle, Marache & Co., 1 Wall St. Crandell, Walter S., 25 Broad St. Crane, McMahon & Co., 209 So. La Salle St., Chicago, Ill. Creem, John J. Jr., 61 Broadway. Cullman Brothers, 161 Front St. Cunningham, Cyril E„ 42 Broadway. Curtiss, House & Company, Union Trust Bldg. Cleveland, Ohio. Dabney, F. L. & Co., 10 Post Office Square, Boston, Mass. Dale, Chester, 115 Broadway. Daly & Craib, Locust & Ninth Sts., St. Louis, Mo. Daning, M. J., 60 Wall st. Dann (J. C.) Wickwire & Co., 287 Main St.. Buffalo Danzig, Jerome J., 200 Fifth Ave. Davenport & Co., 1113 E. Main St., Richmond, Va. Davies & Co., 225 Bush St., San Francisco, Calif. Davis & Co., Fellowes, 52 Broadway. Davis & Co., J. W„ 111 Broadway. Davis & Co., Morgan, 15 Broad St. Davis & Davis, 10 Weybosset St., Providence, R. I. Davis & McIntosh, lllBroadway Davis, Frank H., 47 Broad St. Davis, Paul H. & Co., 10 So. La Salle St., Chicago, Day & Co., R. L„ 14 Wall St. De Coppet & Doremus, 42 Broadway DeCoppet, Robert F„ 47 Broad St. de Cordova & Bro., Cyril, 25 Broad St. de Cordova, Eustace, 25 Broad St. Deery, Francis X., 25 Broad St. De Haven & Townsend, 30 Broad St. Delafleld & Delafleld, 14 Wall St. Denny, Saportas & Co., 1 Wall St. De Veau, George P„ 47 Broad St. De Voe, Dyke & Sperry, 25 Broad St. DICK & MERLE-SMITH, 30 Pine St. Dietrich & Company, F„ 1 Wall Street. Diffenderffer & Co., 1611 Walnut St., Philadelphia, Pa. Dixon & Co., 1411 Chestnut St., Philadelphia. Pa. Dixon & Co., G. A., 42 Broadway Dobbs & Company, 50 Broadway. Dominick & Dominick, 115 Broadway Donoho & Co., 52 Wall St. Donohue, Joseph T„ 30 Broad St. Douglas & Company, F. H„ 61 Broadway. Douglas, Barclay K„ 50 Broadway. Douglas, Walter C., 1 Wall St. Doyle & Company, Frank, 120 Broadway Draper,Williams & Co., 53 State St., Boston, Mass. Dreyfus, Benton & Nicholas, 40 Wall St. Dreyfus, Walter, 40 Wall St. Driscoll, William V., 50 Broadway. Drummond, Howard, 50 Broadway. DRTSDALE ft CO., 71 Broadway Duff & Co., J. Robinson, 1 Wall St. Duffy & Co., Edward J., Ill Broadway. Duncan, John C. Jr., 60 Broadway. Dunne & Co., John V., 19 Rector St. Dunscombe & Co., 60 Broad St. du Pont, Francis I. & Co.. 1 Wall St. Durand, C. A. & Son, 15 Broad St. Durand, James F., 50 Broadway. Dyer, Hudson & Co., 61 Broadway Eastman, Dillon & Co., 15 Broad St. Eckstein, Alfred, 111 Broadway. Edge & Co., C. N., 20 Exchange Place. Edgerton, John J., 61 Broadway. Edmonds & Co., 1 Wall St. Edwards, A. G. & Sons, 409 N. 8th St., St. Louis, Mo. Einstein & Co., H. G„ 30 Broad St. Eisele, King & Studdiford, 9 Clinton St., Newark, N. J. Elsemann, Alexander & Co., 42 Broadway Eising, George J., 165 Broadway. Elder & Co., James Bldg., Chattanooga, Tenn Elias (Albert J.) & Co., 20 Broad St. Eliott & Co., Gilbert, 11 Broadway. Elkins, Morris & Co., Land Title Bldg., Phila delphia, Pa. Ellis, D. H. & Co., 120 Broadway Elsaesser, George G., 47 Broad St. Ely & Son, 120 Broadway. Emanuel & Co., 50 Pine St. Emory, Freed & Co., 109 So. Third St., Phila delphia, Pa. Engel & Co., 120 Broadway Erdman & Co., 120 Broadway Eric & Drevers, 40 Wall St. Ernst & Company, 120 Broadway Estabrook & Co., 40 Wall St. Further information on firms appearing In bold face type will be found in the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1668 NEW YORK STOCK EXCHANGE—Continued MEMBERS Ettinger, Adrian, 70 Pine St. Evans, Stillman & Co., 14 Wall St. Fackert, William E„ 1 Wall St. Fagan, Albert E„ 40 Wall St. Fagan & Goetz, 40 Wall St. Fahnestock & Co., 1 Wall St. Fair, Charles M., 100 Broadway. Faroll Brothers, 60 Broadway Farr tc Co., 90 Wall St. Farrington & Coleman, 52 Broadway Farwell, Chapman & Co., 208 So. La Salle St., Chicago, Ill. Federman & Filston, 25 Broadway. FENNER & BEANE, 67 Broad St. Ftlor, Bullard & Smyth, 39 Broadway Finch, Wilson & Co., 120 Broadway Flncke, Reginald, 61 Wall St. Findley, William V. B„ 42 Broadway. Fine & Co., W. A., 1 Wall St. Finucane, Wm. G., 11 Wall St. Fisher, William, 39 Broadway. Fitzsimmons, Joseph M., 115 Broadway. Flinn, George H., Jr., 9 E. 41st St. Fly & McFall, 73 Madison Ave., Memphis, Tenn. Ford, Donald, 115 Broadway. Forgie, David F.t 47 Broad Sx. Foster & Adams, 120 Broadway Foster (F. V.) & Co., 24 Broad St. Foster, John W., 25 Broad St. Foster, Marvin & Co., 2 Wall St. Fowler, Thomas P., 15 Broad St. Fox, O’Hara & Co., 60 Broad St. Francis, Bro. & Co., 4th and Olive Sts., St. Louis, Mo. Frank, A. R. & Co., 120 So. La Salle St., Chicago, Frank & Co., Charles A., 30 Broad St. Frank, Robert L., 25 Beaver St. Frankhauser, Charles A., 50 Broadway. Fransioli & Wilson, 120 Broadway Freeman, Joseph, 703 E. Olmos Drive, San Antonio, Tex. Fried & Company, Albert, 120 Broadway. Friede, Leo, 39 Broadway. Friedman, Brokaw & Samish, 418 Olive St., St. Louis, Mo. Fuerst, Otto & Co., 120 Broadway. Fuerst, William, 39 Broadway. Fuller (Henry B.) & Co., 67 Broad St. Fuller, Rodney & Co., 14 Wall St. Gaines & Company, 1 Wall St. Gammack & Co., 39 Broadway Garvin, Bantel & Co., 120 Broadway. Gengler Bros., 1 Wall St. Gengler, Joseph D., 1 Wall St. Gerham, Harry, 42 Broadway. Gibb, Roberx P., 50 Broadway. Gilbert & Co., Clinton, 120 Broadway Gilbert, Riley Miles, 11 Broadway. Gilchrist, Bliss & Co., 120 Broadway Gildea, Charles A., 50 Broadway. Gilmor, Robert, 1 Wall St. Gitterman, Joseph L„ Jr., 120 Broadway Glendinning, Robert & Co., S. E .corner 15th and Chestnut Sts., Philadelphia, Pa. Glenny, Roth & Doolittle, 1415 Liberty Bk. Bldg., Buffalo, N. Y. Glore, Forgan & Co., 38 Wall St. Goadby & Co., W. H., 120 Broadway Goerz, E. V. & Co., 39 Broadway Goldman, Henry Jr., 39 Broadway Goldman, Robt. J., 30 Broad St. Goldman, Sachs & Co., 30 Pine St. Goldsmith (H. W. )& Co., 120 Broadway Goldsmith, Joseph M., 63 Wall St. Goodbody & Co., 115 Broadway Goodwin, William H„ 42 Broadway. Gordon, Gerald M. & Co., 120 Broadway Gordon & Whitney, 115 Broadway Gosling, Woodley B„ 42 Broadway. Gossler, Philip, Jr., 40 Wall St. Gould, Clarence F„ 2 Wall St. Gould, Frank J., 165 Broadway Gould, Howard, 160 Broadway Gradison, W. D. & Co., 408 Dixie Terminal Bldg., Cincinnati, Ohio. Graham & Co., 50 Broadway Graham, Harry S., 50 Broadway Cranberry & Co., 50 Broadway Granbery, Safford & Co., 40 Wall St. Graves, Banning & Co., 14 Wall St. Graves, Gordon & Co., 1 Wall St. Gray & Wilmerding, 44 Wall St. Green, Ellis & Anderson, 100 Broadway Greene & Brock, 40 Wall St. Greenway, Gilbert C. Jr., 61 Broadway. Gregory, George V., 42 Broadway. Griffen & Sheridan, 20 Broad St. Gruntal & Co., 30 Broad St. Grymes, J. Randolph, Jr., 42 Broadway. Gude, Winmill & Co., 1 Wall St. Gunn, Norman, 14 Wall St. Gutenstein & Lasdon, 25 Broad St. Guy, John J., 25 Broad St. Gwynne Brothers, 48 Wall St. Hackney, Hopkinson & Sutphen, 25 Broad St. Haff, Carroll B., 120 Broadway. Hagan, John Vincent, 42 Broadway. Halladay & Co., 14 Wall St. HALLE & STIEGLITZ, 25 Broad St. HALLGABTEN & CO., 44 Pine St. Halsted & Harrison, 1 Wall St. Hamershlag, Borg & Co., 39 Broadway Hano & Co., 120 Broadway Hardenbrook, Donald J., 67 Broad St. Hardy & Company, 11 Broadway Harriman & Keech, 11 Broadway Harrington & Co., 42 Broadway. Harris, Blauner & Perry, 25 Broadway. Harris, Burrows & Hicks, 135 So. La Salle St., Chicago, Ill. HARRIS, UPHAM Sc CO., 11 Wall St. Harrison, O’Gara & Co., 209 S. LaSalleSt., Chicago, Ill. Harrison & Peterson, 25 Broad St. Hartshorne, Fales & Co., 71 Broadway Hatch, E. Sanford, 61 Broadway. Haupt & Company, Ira, 39 Broadway Hawkins, Roswell G., 15 Broad St. HAYDEN, STONE Sc CO., 25 Broad St. Hazlett & Burt, 215 Wheeling Steel Corp. Bldg., Wheeling, W. Va. Healy, James A., 40 Exchange Place. Heath, Royal V., 40 Wall St. Hecker & Co., Liberty Trust Bldg., Philadelphia, Pa. Hedberg & Koppisch, 1 Wall St. Hedberg, O. Viking, 1 Wall St. Hedge, Herbert T., 19 Rector St. Heidelbach, Ickelheimer & Co., 49 Wall St. Hemmerle, Joseph, 111 Broadway. Hemphill, Noyes & Co., 15 Broad St. Henderson & Company, 40 Wall St. Henderson, Charles F. & Sons, 71 Broadway Hendrickson & Co., 30 Pine St. Hentz, H. & Co., 60 Beaver St. Herbek, Anton W., 47 Broad St. Herman & Co., 14 Wall St. Hernon, Pearsall & Co., 120 Broadway Herrick, Berg & Co., 40 Wall St. Herzfeld & Stern, 30 Broad St. Hess, Walter W„ 30 Pine St. Hetherington, James A., II, 42 Broadway. Hewitt, Lauderdale & Co., 61 Broadway Hewitt & Satterfield, 39 Broadway. Hibbs, W. B„ & Co., Hibbs Bldg., Washington, D. C. Higham, Neville G., 30 Broad St. Hilbert, Condon & Bassett, 111 Broadway. Hill & Co., 2020 Carew Tower, Cincinnati, Ohio Hill, Charles W. & Co., 1 Wall St. Hilliard, J. J. B„ & Son, 419 W. Jefferson St., Louisville, Ky. Hinckley, Albert P., 30 Broad St. Hlrsch, Lilienthal & Co., 165 Broadway Hlrschberg, Harold, 39 Broadway. Hirshon, Walter, 61 Broadway. Hiscoe, Reginald V., 52 Wall St. Hoge, Underhill & Co., 11 Broadway Hogle, J. A., & Co., 132 Main St., Salt Lake City, Utah Hollander, Robert B., 50 Broad St. Holsapple, Harvey & Co., 30 Pine St. Homans & Co., 67 Broad St. Hoppln Bros. & Co., 120 Broadway Hornblower & Weeks, 40 Wall St. Hough, Harry P., 71 Broadway. Hovey, Chandler & Co., 82 Devonshire St., Boston, Mass. Howard, Robert F., 25 Broad St. Howell, Douglass & Co., 40 Wall St. Hoyt & Co., (Colgate,) 14 Wall St. Hubbard Bros. & Co., 60 Beaver St. Hubbard, Edwin D., 67 Exchange Place. Hughes & Co., 11 Broadway. Hulburd, Warren & Chandler, 208 S. La Salle St., Chicago, Ill. Hume & Thompson, 60 Broadway Hummer, Wayne & Co., 105 W. Adams St., Chicago, Ill. Hunt, Gregory C., 50 Broadway. Hutchins & Parkinson, 53 State St., Boston, Mass. HUTTON & CO., E. F., 61 Broadway Hutton & Co., W. E„ 14 Wall St. Hyman & Co., 40 Wall St. Hynes, John M., 120 Broadway. Imbrie, H. Thornton, 50 Broadway. Ingalls & Snyder, 100 Broadway Irle, Willard S„ 30 Broad St. Iselin, Ernest, 115 Broadway. Iseman, & Co., Harold M., 60 Beaver St. Jackson Bros., Boesel & Company, 26 Broadway JACKSON & CURTIS, 115 Broadway Jacobs, Stanley R., 30 Pine St. Jacobson & Co., Benjamin, 61 Broadway. Jacquelin & De Coppet, 47 Broad St. Jelke & Co., (Frazier) 40 Wall St. Jenkins & Stevens, 120 Broadway. Jenks, Gwynne & Co., 65 Broadway Jesup & Lamont, 26 Broadway Jewett, Newman & Co., 26 Broadway. Johnson, Alexander B., 65 Broadway. Johnson & Durant, 61 Broadway. Johnson & Wood, 67 Broad St. Johnson, Leeds, 49 Wall St. Jones, C. Hyland, 20 Broad St. Joost, Patrick & Company, 90 Broad St. Joseph & Co., Morris, 25 Beaver St. Joseph, J. Bernard, 50 Broadway. Josephthal & Co., 120 Broadway Jurgens, Herman E., 42 Broadway. Kahn, Elliott M„ 44 Pine St. Kahn, Gustave H., 165 Broadway. Kaufman, Richard K. & Co., 39 Broadway Kaufmann, Leo, 25 Broad St. Kay, Byfield & Co., 61 Broadway. Kay, Richards & Co., Union Arcade, Pittsburgh, Pa. Kean, Taylor & Co., 14 Wall St. Keenan, Henry C., 120 Broadway. Kelley, Thomas F., 50 Broadway. Kellogg, James Crane, 3rd, 50 Broadway. Kemp, George S., 911 E. Main St., Richmond, Va. Kempner, Alan H„ 120 Broadway. Kennedy & Co., 1 Wall St. Keppler, Emil A. C., 540 Morris Ave., Elizabeth, N. J. Kerngood, S. George, 120 Broadway. Kerr & Armstrong, 30 Broad St. Kerr (L. S.) & Co., 11 Wall St. Kevet, Ralph E., 50 Broadway. KIDDER Sc CO., A. M., 1 Wall St. KIDDER, PEABODY Sc CO., 17 Wall St. Kimball, Hervey L„ 42 Broadway. King, Frank E„ 71 Broadway. Klauber, Murray, 42 Broadway. Knapp, Arthur, Jr., 47 Broad St. Knapp, Theodore J., 14 Wall St. Koch & Co., Spencer B., 29 Broadway Koch, Spencer B., 29 Broadway. Kohler, Fish & Co., 48 Wall St. Kraebel, Raymond H„ 50 Broadway. KUHN, LOEB Sc CO., 52-54 William St. La Branche, Arthur E., 50 Broadway. La Branche, Geo. M. L„ 50 Broadway. La Branche & Company, 50 Broadway Ladenburg, Thalmann & Co., 25 Broad St. Laidlaw & Co., 26 Broadway Laird & Co., Nemours Bldg., Wilmington, Del. Laird, Blssell & Meeds, 120 Broadway Lamborn, Hutchings & Co., 37 Wall St. Lamm, Harold J., 24 Broad St. Lamson Bros. & Co., 141 W. Jackson Blvd., Chicago, Ill. Lanahan, W. W„ & Co., Calvert Bldg., Baltimore, Md. Langley & Co., W. C„ 115 Broadway Lapham, Davis & Bianchi, 29 Broadway Lapham, Frank E. Jr., 120 Broadway. Larkin & Co., S. P., 30 Broad St. Lauer & Co., William E., 50 Broadway Lawrence & Sons, Cyrus J., 115 Broadway Lazard Freres, 19 Nassau St. Leavitt, Phillip B., 39 Broadway. Lee, Cornelius S., Jr., 52 Wall St. Lee. Higginson & Co.. 37 Broad St. Lehman Bros., 1 William St. Leopold & Co.. James M., 70 Wall 8t. Levey, David E., 25 Broad St. Levi, Frank S., 61 Broadway. Levis, Carl, 37 Wall St. Levy & Co., Robert J., 165 Broadway Lewinson & Co., Sydney, 30 Pine St. Lewis (Chas. E.) & Co., 601 Second Ave., South Minneapolis, Minn. Lewisohn & Sons, Adolph, 61 Broadway Lewisohn, Frederick, 595 Madison Ave. Llbaire & Company, 37 Wall St. Liberman, Herman N., Jr., 25 Broad St. Linburn, Ernest A., 25 Broad St. Upper, Arthur, Jr., 120 Broadway. Lipscher, Milton A., 42 Broadway. Livingstone, S. R. & Co., 1 Wall St. Lloyd & Co., Ill Broadway Lobdell & Co., 120 Broadway Lober Brotners & Co., 37 Wall St. Lockwood, Peck & Co., 52 Broadway. Loeb & Co., Carl M., 61 Broadway. Loeb, Alsberg & Co., 39 Broadway. Loeb, George A., 120 Broadway. Loeb, Robert H., 25 Broadway. Loew & Co.. 2 Wall St. Long, John E., 25 Broad St. Lovejoy, Donald M., 49 Broad St. Lowell, James Russell, 30 Broad St. Lowitz E. & Co.. 29 Broadway. Luber & Co., 50 Broadway. Luke, Banks & Weeks, 1 Wall St. Lyon & Co., W. Wallace, 120 Broadway Lyons, W. L., & Co., 231 S. 5th St., Louisville, Ky. Mabon & Co.. 1 Wall St. MacArthur, Malcolm, 47 Broad St. MacCorkle, Robert C, 29 Broadway. MacDonald & Co., 234 Real Estate Tr. Bldg., Philadelphia, Pa. Mackay & Co., 14 Wall St. MacKinney & Weicker, 1 Wall St. MACKUBIN, LEGG & CO., 222 E. Redwood St., Baltimore, Md. MacMeekin & Co., 123 S. Broad St., Philadelphia, Pa. MacQuoid & Coady.lll Broadway Madden, Walter H., 47 Broad St. Maier, Albert J., 42 Broadway. Maier, John A., 42 Broadway. Maloney, Anderson & Block, 50 Broadway Manheimer, DeWixt J., 50 Pine. Manson & Co., Thos L., 120 Broadway Marcus & Co., 30 Broad St. Marks, Eric H., 25 Broad St. Marks (Laurence M.) & Co., 49 Wall St. Marks, Laser & Co., 231 S. La Salle St., Chicago, Ill. Marquis & Co., L. J., 39 Broadway Further Information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1669 NEW YORK STOCK EXCHANGE—Continued MEMBERS Marshall, Campbell & Company, 61 Broadway. Masten, A. E., & Co., First National Bank Bldg., Pittsburgh, Pa. Maxwell, George L„ 61 Broadway. Mayer, Clinton O. Jr., 120 Broadway. Mayer & Company, Jos. G., 74 Trinity Place. Mayer & Hart, 111 Broadway Maynard, Oakley & Lawrence, 61 Broadway McCarthy, Daniel F., 52 Broadway McClave & Co., 67 Broad St. McClellan, George R„ 40 Wall St. McCreery, Samuel, & Co., 123 S. Broad St., Philadelphia, Pa. McCutcheon, McKelvy & Durant, Union Trust Bldg., Pittsburgh, Pa. McDermott & Co., Peter P.. 39 Broadway. McDermott, David H., 39 Broadway. McDermott, William P., 39 Broadway. McDonnell & Co., 120 Broadway. McEneaney, Edward V., 47 Broad St. McGoldrick, Henry A., 50 Broadway. McGough & Schuman, 61 Broadway. McGregor, Irvine & Co., 1219 Chapline St., Wheeling, W. Va. McIntyre, Hugh B„ 50 Broadway. McKay, N. Bruce, 42 Broadway. McKenna, Arthur J., 47 Broad St. McKenna. James. 40 Exchange Place. McKenzie, Joseph E., 20 Broad St. McKeon, Daniel Manning, 71 Broadway. McKeon, Robert Manning, 71 Broadway. McLaughlin, Joseph A., 50 Broadway. McLean, James, 120 Broadway. McMannus & Mackey, 15 Broad St. McVickar, E. S. J„ 2 Wall St. Meehan & Co., M. J„ 30 Broad St. Melady & Co., John, 141 Broadway Mellick, J. Hartley, Jr., 50 Broadway. Mellon, Charles Henry, 42 Broadway. Mensch, Bernard L„ 29 Broadway. Mensch, Milton. 39 Broadway. Miller & Dodge, 30 Broad St. Miller & Lummis, 50 Broadway. Miller, Frank A., 25 Broad St. Mindermann, Frederick H., 29 Broadway. Minton & Co.. D. M.. Ill Broadway Mitchel & Watts, 14 Wall St. Mitchell, Hutchins & Co., 231 S. La Salle St., Chicago, Ill. Monahan, Cohn & Lehman, 111 Broadway Montgomery, Robert Craig, 111 Broadway. Montgomery, Scott & Co., 120 Broadway. Moore & Co., D. T., 50 Broad St. Moore, J. Carson, 60 Beaver St. Moore, Leonard & Lynch, 111 Broadway Moore, McLean & Co., 200 S. LaSalle St., Chicago. Moore & Schley, 100 Broadway. Moors & Cabot. Ill Devonshire St., Boston, Mass. MORGAN & CO., J. r., 23 Wall St. Morgan, Henry & Company, 42 Broadway Morgan, Morgan G., 30 Broad St. Morris & Co.. 1 Wall St. Morris, A. W., & Co., 325 W. 8th St., Los Angeles, Calif. Morris, Brown & Co., 316 Fourth Ave., Pittsburgh, Pa. Morris & Smith, 120 Broadway Morris, William & Co., 44 Pine St. Morrison, H. Terry, 61 Broadway. Morse, Anthony W., 1 Wall St. MOSELEY & CO., F. S., 14 Wall St. Muir & Co., John 39 Broadway. Munds, Winslow & Potter, 40 Wall St. Munn & McCauley, 30 Broad St. Murfey, Blossom & Co., Guardian Bldg., Cleve land, Ohio. Murphy (C. H.) & Co., 40 Wall St. Murphy, G. M.-P. & Co.. Ill Broadway Myles, John L., 47 Broad St. Nammack, Jerome W., 40 Wall St. Nash & Co., Ill Broadway. Neddermeyer, August, 42 Broadway. Neilson & O’Sullivan, 20 Broad St. Neilson, C. Frederic. Jr., 115 Broadway. Neilson, Louis, 120 Broadway Nelson, Palen, 1 Wall St. Neuberger, Harry H., 60 Beaver St. Neuhut, Plohn & Co., 60 Broad St. Neumoegen, Manfred L., Ill Broadway. Newbold’s, W. H., Son & Co., 1517 Locust St. Philadelphia, Pa. Newborg & Co., 30 Broad St. Newburger, Loeb & Co., 40 Wall St. Newcombe, Chas. M., Ill Broadway. Newhard, Cook & Co., 400 Olive St., St. Louis, Mo. Newman Bros. & Worms, 25 Broad St. Newsome, John C., 50 Broadway. Newton, Robert P., 52 Wall St. Nick (J. F.) & Co., 120 Broadway Nims, Arthur V„ 50 Broadway. Noble, H. G. S., 42 Broadway. Noel, Berman & Langley, 67 Wall St. Norris & Kenly, 208 S. La Salle St., Chicago, Ill. Norris, Donald Lee, 61 Broadway. Noyes, David A., & Co., 208 S. La Salle St., Chicago, Ill. Noyes, Julius W„ 1 Wall St. Nugent & Igoe, 11 Commerce St., Newark, N. J. Nuttall, R. V., & Co., Park Bldg., Fifth Ave. & Smithfield St., Pittsburgh, Pa. O’Brien, Esmonde F., 15 Broad St. O’Brien, Richard W„ 15 Broad St. Oliphant & Co., Jas. H„ 61 Broadway. Onativia, J. Victor, Jr., 42 Broadway. O’Neill & Co., Grover, 20 Exchange Place Orr & Tuthill, 60 Broadway Orvis Brothers & Co., 60 Broadway. Orvis & Co., Schuyler A., 120 Broadway Ottimer, Jack C., 30 Broad St. Ottley, Gilbert. 165 Broadway Paine, Webber & Co., 25 Broad St. Parker, Alfred P„ 44 Beaver St. Parker, McElroy & Company, 120 Broadway. Parrish & Co., 40 Wall St. Pask & Walbridge, 1 Wall St. Pearl, Dyer, 1 Wall St. Pell & Co., 40 Wall St. Pell, Peake & Co., 24 Broad St. Pelzer, B. H. & F. W., 42 Broadway. Perkins, Erickson & Co., Powers Bldg., Rochester, N. Y. Pflugfelder, Bampton & Rust, 61 Broadway. Pforzheimer & Co.. Carl H., 25 Broad St. Phelps & McKee, 63 Wall St. Pierce & Co., E. A., 40 Wall St. Pierce, Allen A„ 40 Wall St. Pillot, Andre P„ 48 Wall St. Pinkerton, Robert A., 50 Broadway. Piper, Jaffray & Hopwood, 115 S. 7th St., Minne apolis, Minn. Post & Flagg, 49 Broad St. Potter, Earl S., 26 Broadway Potts, William Rockhill, 47 Broad St. Pouch & Co., 1 Wall St. Prentice & Brady, 25 Broadway. Prescott, Biggar & Co., 101 Guardian Bldg., Cleveland. Ohio. PRESSPRICH & CO., R. W., 68 William St. Price, Geo. E. & Co., 120 Broadway. Prince, F. H., & Co., Court & Washington Sts., Boston, Mass. Proctor, Cook & Co., 15 Broad St. Pryibil, Paul, 120 Broadway. Purcell, Edward A & Co., 39 Broadway. Purdy, Strother B., 42 Broadway. Putnam & Co., 6 Central Row, Hartford, Conn. Pyne, Kendall & Hollister, 60 Wall St. Quincey & Co., Chas. E.. 24 Broad St. Quinn, Walter A., 50 Broadway. Raebeck, William, 25 Broadway. Rafferty, Paul F., 120 Broadway. Raiss, Carl, & Co., 256 Montgomery St., San Francisco, Calif. Raschen, John W„ 42 Broadway. Ray, Joseph B., 50 Broadway. Rayner, Thomas, 42 Broadway. Redmond & Co., 44 Wall St. Reeves, Edward J., 61 Broadway. Reilly, Wm. B„ 50 Freeman St., Newark, N. J. Reimer & Co., Ill Broadway Reiner & Co., Milton E., 120 Broadway Reinholdt & Gardner, 400 Locust St., St. Louis, Mo. Renson, Joseph H., 19 Rector St. Reynolds & Co., 120 Broadway. Reynolds, Fish & Co., 120 Broadway. Rheinstein, Sidney, 14 Wall St. Rhoades & Co., 30 Pine St. Rhodes, Edmund, 30 Broad St. Rhodes, Gilbert L„ 120 Broadway. Rice, Edward J., 11 Broadway. Rich, Clark & Brady, 39 Broadway Richard, C. B. & Co., 44 Beaver St. Richards, Fred L., 42 Broadway. Richards, Hume & Heffernan, 49 Wall St. Righter, Walter L., 63 Wall St. Ristine & Co., F. P., 15 Broad St. Riter & Co., 48 Wall St. Rives, Reginald B., 47 Broad St. Robertson, Charles E„ 11 Wall St. Robertson & Georgeson, 1 Wall St. Robinson, N. Dorsey, 47 Broad St. Roesler, Walter, 50 Broadway. Rogers, Frank C„ 111 Broadway. Rogers, Wilbur H., 120 Broadway. Rollins, Ernest C., 52 Broadway. Rollins, G. Edward, 40 Wall St. Rooke, Robert L., 40 Wall St. Rose, Luke H., 14 Wall St. Rose, Raymond S., 30 Broad St. Rose, Reginald P„ 42 Broadway. Rose, Cammann & Co., 120 Broadway. Rosenau, Walter N„ 1 Wall St. Rosenbaum, Francis F„ 1 Wall St. Rossbach, Laurence B., 42 Broadway. Rossman, F. L. & Co., 40 Wall St. Roth & Co., B. H.,25 Broad St. Roth (Emil J.) & Co., 29 Broadway. Rothschild & Co., 105 W. Adams St., Chicago, Ill. Rothschild & Co., L. F„ 120 Broadway. Rowland, Reginald, 50 Broadway. Ruggles, Burnet R., 61 Broadway Russell, Brewster & Co., 135 S. La Salle St., Chicago, Ill. Russell, Marshall H., 50 Broadway. Rutherfurd, John, 120 Broadway. KUTTER & COMPANY, 20 Exchange Place. Sabater, William F., 42 Broadway. Sackett (Ray P.) & Co., 11 Broadway. Sagar, W. S., 115 Broadway. SALOMON BROS. & HUTZLER, 60 Wall St. Salomon & Co., F. L„ 50 Broadway. Salomon, Robert S., 60 Wall St. Salter, John A., 42 Broadway. Salzer, Herbert D., 120 Broadway, sargeant, Malo & Co., Equitable Bldg., Denver, Colo. Sartorius & Smith, 61 Broadway. Scarritt & Bardach, 120 Broadway Schafer Bros., 1 Wall St. Schafer, Myron, 30 Pine St. Schatzkin, Loewi & Co., 30 Broad St. Scheftel, Herbert, 42 Broadway. Schirmer, Atherton & Co., 79 Milk St., Boston, Mass. Schoellkopf & Co., 70 Niagara St., Buffalo, N. Y. Scholl, & Co., T. F„ 50 Broad St. Scholle Brothers, 40 Wall St. Scholle, William D„ 40 Wall St. Schreiber, Otto A., 115 Broadway. Schreiber, Pierrepont D., 50 Broadway. Schubert, George C„ 40 Wall St. Schwabacher & Co., 600 Market St., San Fran cisco, Calif. Schwabacher, Herman S., 25 Broad St. Schwartz, Herman, 39 Broadway. Schweppe, E. Poynter. 39 Broadway. Scott & Stringfellow, P. O. Box 1575, Richmond, Va. Scott, Stuart Jr„ 50 Broadway. Scranton, Chas. W„ & Co., 209 Church St., New Haven, Conn. Seaman, Henry Brevoort, 42 Broadway. Seaman, Joseph H., 1 Wall St. Seasongood & Haas, 63 Wall St. Seeley, Nathaniel S„ 71 Broadway. SELIGMAN A CO., J. & W., 54 Wall St. Sellgman, G. & A., 42 Broadway. Seligman, James, 30 Pine St. Seliesberg & Co., 50 Broad St. Seskis, Jack Y„ 50 Broad St. Shaskan Brothers, 30 Broad St. Shaskan & Co., 39 Broadway Shaw, George W., Ill Broadway. Shea, Frank A., 67 Broad St. Shea, James F. & Co., 160 Broadway. Shearson. Hammill & Co.. 14 Wall St. Shethar, John B., 120 Broadway. Shields & Company, 44 Wall St. Shields, Robert McC., 61 Wall St. Shippee & Rawson, 111 Broadway. 8human & Co., 25 Broad St. Sichel, Eugene A., 120 Broadway. Sidenberg, George M., 25 Broad St. Siegel, Isaac, 61 Broadway. Silberberg, D. H. & Company, 63 Wall 8t. Simmons, Cheston, 47 Broad St. Simmons & Co., E. H. H., 52 Broadway. Simmons & Peckham, 49 Broad St. Simmons, Zalmon G., Jr., 67 Broad St. Simon, I. M., & Co., 315 N. 4th St., St. Louis, Mo. Simonds, Robinson, 111 Broadway. Sincere, Charles & Co., 231 S. La Salle St., Chicago, Ill. Singer, Deane & Scribner, Union Trust Bldg. Pittsburgh, Pa. Sinsheimer, Alex. L., 61 Broadway. Sisto & Co., J. A., 68 Wall St. Sivin, Franklin & Co., 61 Broadway. Slater, Robert V., Ill Broadway. Slaughter & Co., A. O , 14 Wall St. Slepack & Co., 25 Broadway Smith, Bernard E., 14 Wall St. Smith, Bert V., 20 Broad St. Smith, E. E. T„ 14 Wail St. Smith, Edward B. & Co., 31 Nassau St. Smith, Frank & Co.. 120 Broadway Smith, Herbert L„ Jr., 30 Pine St. Smith, Kenneth R„ 11 Wall St. Smith, Lyman D„ 61 Broadway. Smith, Ralph C., 115 Broadway. Smith & Gallatin, 115 Broadway. SMITHERS & CO., F. S., 15 Broa4 St. Sneckner & Heath. 63 Wall St. Snedeker, Chas. V., & Co, 1 Wall St. Snyder, Wilson & Co., 408-10-12 Madison Ave., Toledo, Ohio. Somers & Schafer, 50 Broadway Sonn, Herbert H., 50 Broadway. Soucy, Swartswelter & Co., 161 Devonshire St., Boston, Mass. Southgate & Co., 185 Devonshire St., Boston, Mass. Sparks, J. W. & Co., 50 Broadway. Spear & Leeds, 25 Broad St. Sperber, Benjamin, 25 Broad St. Spero & Co., 120 Broadway SPEYER & CO., 24-26 Pine St. Speyer, Alexander C., Jr., 610 Bessemer Bldg., Pittsburgh, Pa. Spielman, David B., 39 Broadway. Spingam & Co., Leopold, 29 Broadway. Sprague, Raymond, 39 Broadway. Sprayregen & Co., 39 Broadway. Stackpole & Buchanan, 120 Broadway. Stafford & Co., 20 Exchange Place. Stamm & Co., A. L., 120 Broadway Stanley, Janeway & Howe, 40 Wall St. Stanton & Co., 52 Wall St. Starkweather & Co., Ill Broadway. Starr, William T„ 61 Broadway. Stebbins, Ernest Vail, 42 Broadway. Stein, Brennan & Co., 9-11 S. LaSalle St., Chicago, Ill. STEIN BROS. & BOYCE, 39 Broadway. Stein, Jules C„ 430 N. Michigan Ave., Chicago. Ill. Steiner, Rouse & Company, 25 Broad St. Sterling, Grace & Co., Ill Broadway. Stern & Co., Allison, 25 Broad St. Stern Brothers, 39 Broadway STERN, KEMPNER & CO., 14 Wall St. Sternberger, Henry S., 1 Wall St. Stevens & Legg, 120 Broadway. Stevens, Byam K., 120 Broadway. Stewart, Charles E„ 63 Wall St. Stewart, John A., 3rd, 120 Broadway. Further information on firms appearing In bold face type will be found in tbe selected list of Investment Dealers following bank list In eacb city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1670 NEW YORK STOCK EXCHANGE—Continued Stokes, Hoyt & Co., 39 Broadway. Stone, Howard R„ 60 Broadway. Stout & Co., 25 Broad St. Stout. Bayard Dominick, 47 Broad St. Stralem, Pierre, 44 Pine St. Strassburger & Co., 133 Montgomery St., San Francisco, Calif. Strasser, Robert, 42 Broadway. Straus & Co., 39 Broadway Straus, Ferdinand A., 50 Broadway. Strauss, Max, 120 Broadway. Strauss, Phillips & Co., 120 Broadway Stroock, Stephen J. & Co., 1 Wall St. Struthers & Dean, 40 Wall St. Sulzbacher, Granger & Co., Ill Broadway. Sutro & Co., 407 Montgomery St., San Francisco, Calif. Sutro Bros. & Co., 120 Broadway Swan & Co., J. E., 25 Broad St. Sweetser & Co., 43 Broad St. Swinnerton, Radclilfe, 60 Beaver St. Taller & Robinson, 120 Broadway. Talbot & Company, 11 Wall St. Talcott, Potter & Co., 26 Broadway Tanburn, Stephen A., 50 Pine St. Tate & Hays, 71 Broadway Taylor & Delany, 50 Broadway Taylor, Bates & Co., 48 Wall St. Taylor & Co., W. R. K., 120 Broadway Tefft & Company, 24 Broad St. Tenney & Co., 31 Milk St., Boston, Mass. Thaw, Lawrence Copley, 1 Wall St. Thiele, Walter, 120 Broadway. Thomas, Richard Russell, 47 Broad St. Thomas & Griffith, 120 Broadway. Thomson & McKinnon, 11 Wall St. Thorne (F. B.) & Co., 120 Broadway. Thurnauer, Arthur F., 61 Broadway. Tierney, Andrew J., 50 Broadway. Tifft Brothers, Third National Bank Bldg., Springfield, Mass. TIMMINS & COMPANY, J. R., 61 Broadway. Tobey & Co., 25 Broadway. Tobey & Kirk, 52 Wall St. Tobias, W. Eldridge, 50 Broadway. Toerge & Schiffer, 15 Broad St. Tompkins, Frederic P., 47 Broad St. Toolin & Co., 14 Wall St. Townsend, Anthony & Tyson, 30 State St., Boston, Mass. Townsend, Graff & Naumburg, 29 Broadway. Trask & Co., Spencer. 25 Broad St. Trask, John J., 47 Broad St. Travers, Clark and Taylor, 120 Broadway MEMBERS Travers, Leo B., 50 Broadway. Treman & Co., Arthur B„ 1st Nat’l. Bank Bldg., Ithaca N Y Trimble & Co., 1326 Walnut St., Philadelphia, Pa. Tucker, Anthony & Co., 120 Broadway Turner, Wallis S., 50 Broadway. Turnure & Co., Lawrence, 1 Wall St. Tweedy. Edmund R.. 25 Broad St. Ullman Bros., 50 Broadway Ulman Bros. & Baldwin, 1 Wall St. Untermeyer, Milton F., 60 Beaver St. Untermeyer, Milton F., Jr., 60 Beaver St. Vachio, Frank A., 42 Broadway, van Daell, Paul A. H., 50 Broadway. Vaughan & Company, 50 Broadway Vercoe & Co., Huntington Bank Bldg., Columbus, Ohio. Vernon, Miles H„ 1 Wall St. Vesce, Anthony P., 15 Broad St. Vesce, Joseph V., 71 Broadway. Vietor, Common & Co., Marine Trust Bldg., Buffalo, N. Y. Vilas & Hickey, 49 Wall St. Vogel, Arthur J., 30 Pine St. Wadsworth, Willard, 1 Wall St. Wagner, Stott & Co., 19 Rector St. Wainwright & Co., H. C., 60 State St., Boston, Mass. Wainwright, Luce and Willetts, 14 Wall St. Waldheim, Platt & Co., 308 N. Eighth St., St. Louis, Mo. Walker Brothers, 71 Broadway Walker & Co., G. H„ 1 Wall St. Walker & Sons, Joseph, 120 Broadway Waller & Co., 61 Broadway Warburton, Wm. John, 60 Broadway. Ward, Charles J., 120 Broadway. Ward, Gruver & Company, 40 Exchange Place. Ware & Keelips, 19 Rector Street Watling, Lerchen & Hayes, 334 Buhl Bldg., Detroit, Mich. Watson, Armstrong & Co., 24 Broad St. Watson, Charles F. Jr., 67 Broad St. Watson & Co., T. L., 40 Wall St. WATSON & WHITE, 149 Broadway Webster, Morton S., 1 Wall St. Weed, Hall, Berndt & Co., 40 Wall St. Weekes, Harold H„ 14 Wall St. Welcker & Co., 1 Wall St. Weil, Arthur C., 25 Broad St. Weil, Charles S., 30 Broad St. Weingarten & Co., 29 Broadway. Weisl & Co., Edwin, 111 Broadway. Welch, Francis W., 25 Broad St. Welles. C. E. & Co., 25 Broadway. WELLINGTON & CO., 120 Broadway Wenman & Co., 1 Wall St. WERTHEIM & CO., 120 Broadway Westheimer & Co., 324 Walnut St., Cincinnati, Ohio. Whaley, Frederick C„ 11 Wall St. White, Frederic N. Lawrence, 47 Broad St. White, Weld & Co., 40 Wall St. Whitehead, Edward R., 52 Broadway. Whitehead, Edward R., Jr., 52 Broadway. Whitehouse & Co., 1 Wall St. Whitman, Herbert S., 47 Broad St. Whitney & Co., Richard, 15 Broad St. Whitney & Elwell, 30 State St., Boston, Mass. Whitney & Sons, H. N„ 49 Wall St. Wilcox & Co., 14 Wall St. Wilder, George H„ 1 Wall St. Willett, George, 61 Broadway. Williams, Blair S. & Co., 25 Broad St. Williams & Co., Clark, 160 Broadway Williams, Kenneth R., 30 Pine St. Williston & Co., J. R., 115 Broadway. Wilson, Alanson H. R., 2 Wall St. Wilson & Porter, 1 Wall St. Winthrop, Robert & Co., 48 Wall St. Winthrop, Mitchell & Co., 26 Broadway Wisner, Charles H., 40 Exchange Place. Witter, Dean & Co., 45 Montgomery St., San Francisco, Calif. Wood, A. C., Jr. & Co., 511 Chestnut St., Phila delphia, Pa. Wood, Low & Company, 63 Wall St. Wood, Struthers & Co., 20 Pine St. Wood, Trubee & Co., M & T Bldg., Buffalo, N. Y. Wood, White & Co., 14 Wall St. Woody, Charles L. Jr., 40 Wall St. Woolner, Adolph, 14 Wall St. Worden, J. Lorimer, 30 Broad St. Worthington, George L„ 50 Broadway. Wrenn Bros. & Co., 30 Broad St. Wright & Sexton, 1 Wall St. Wurts, Dulles & Co., 1416 Chestnut St., Phila delphia, Pa. Wyckoff, Edward G„ & Co., 1528 Walnut St., Philadelphia, Pa. Wyle, John J., 24 Broad St. Yarnall & Co., 1528 Walnut St., Philadelphia, Pa. Young, Charles F., 42 Broadway. Young, Kolbe & Co., 120 Broadway Young, T. Sloan, 14 Wall St. Zeltner, Charles F., 115 Broadway. Zucker, Arthur A., 1 Wall St. Zuckerman, Henry & Co., 52 Broadway OHIO CINCINNATI STOCK EXCHANGE (208-209-210 Dixie Terminal Bldg.) Officers: W. D. Gradison, President: J. B. Reynolds, Vice-President; S. F. Stephenson, Treasurer; Charles H. Steffens, Jr., Secretary SCHEDULE OF RATES OF COMMISSION (March 1, 1936) York Stock Exchange. Whenever the Board of Trustees, however, deems ON STOCKS Price Rate Per Share It advisable to do so, they may designate any security listed on the Cincinnati Stock Exchange and any other principal exchange, in which the Commission Selling under $1.00 per share.............................-As determined by member shall not be less than are provided by the rules of such other Exchanges. Selling at $1.00 per share and below $5.00 per share__ Not less than 7J^c (Aluminum Industries, American Laundry Machinery, Eagle Picher Lead, Selling at $5.00 per share and below $10.00 per share. .Not less than 15c U. S. Playing Card and Waco Aircraft all traded in on the New York Curb Selling at $10.00 per share and below $150.00 per share.Not less than 25c Selling at $150.00 per share and below $200.00 per share.Not less than 50c have been so designated.) BONDS Selling at $200.00 per share and below $300.00 per share.Not less than $1.00 Selling at $300.00 per share and below $400.00 per share.Not less than $1.50 The Commission charge on all bonds, except that of U. S. Bonds, is oneSelling at $400.00 per share and over....... ..... ........... ..... Not less than $2.00 quarter of one per cent on the par value. The Commission charge on U. S. Bonds is one-eighth of one per cent. MINIMUM COMMISSION ON STOCKS RATES TO MEMBERS—GIVE-UPS. On stocks listed only on the Provided, however, that on every transaction which involves an amount Cincinnati Stock Exchange the Commission shall not be less than the rates of $15.00 or more, the minimum commission shall be not less than $2.50. given below: A transaction which involves under $15.00, the minimum commission shall Rate per (bare be as determined by the broker. Selling under $1.00 per share.................................. as mutually agreed upon Selling at $1.00 but under $5.00........................ Not less than lc ON RIGHTS AND WARRANTS Selling at $5.00 but under $10.00......................................... Not less than 3c Price Rate Per Right Selling at $10.00 and above........................................ ...........Not less than 4c or Warrant On stocks listed Jointly on the New York and Cincinnati Stock Exchange Selling under 50c............................. ......... ......... ..(as mutually agreed upon) the Commission shall not be less than the rates given below. (These rates Selling at 50c but under $1.00_____________________ Not less than 3c also apply to Aluminum Industries, American Laundry Machinery, Eagle Selling at $1.00 but under $5.00...... ...................... ...........Not less than 5c Picher Lead, U. S. Playing Card and Waco Aircraft, which are traded in Selling at $5.00 but under $10.00.....................................Not less than 7Kc on the New York Curb.) Selling at $10.00 and above...... ......................................... Not less than 15c Selling under $1.00 per share.................... .............. as mutually agreed upon Selling at $1.00 but under $5.00................................ Not less than lc MINIMUM COMMISSION ON RIGHTS AND WARRANTS Selling at $5.00 but under $10.00...... .Not less than 2c Provided, however, that on every transaction which involves an amount Selling at $10.00 and over.............................................. .Not less than 2^c of $5.00 or more, the minimum Commission shall be not less than $1.00. CLEARANCE BUSINESS A transaction which involves under $5.00, the minimum Commission shall RATES TO MEMBERS—On business for members of the Exchange be as determined by the broker. when the principal is not given up, the Commission shall not be less than FRACTIONAL SHARES one-half of the non-member rates. There shall be charged a Commission not less than 50 cents on fractional The Commission on rights and warrants shall be the same as on stocks, thares. except in the case of rights and warrants selling below $1.00 on which the JOINTLY LISTED STOCKS Commission may be mutually agreed upon. The Commission on bonds shall not be less than 40 cents per $1,000 par As to stocks and rights which are listed on the New York Stock Exchange, value on bonds. the Commission shall not be less than are provided by the rules of the New MEMBERS Lowenthal, Ben, W. D. Gradison & Co., 408 Dixie Gibson, R. H„ 106 E. Third St„ Covington, Ky. Ashbrook, H. Raymond, 705 Union Trust Bldg. Terminal Bldg. Gradison, W. D. & Co., 408 Dixie Terminal Bldg. ASSEL, JOS. H., 218 Provident Bank Bldg. Lyons & Co., W. L., St. Paul Bldg. Granberry & Co., 50 Broadway, New York, N. Y. BALLINGER & CO., Union Trust Bldg. MURRAY, C. C. & CO., Union Trust Bldg. Grau, J. J., & Co., 1331 Union Trust Bldg. Reiter & Co., C. H„ Union Trust Bldg. Greene & Brock, 301 Third Nat’l. Bk. Bldg., Bartlett, Benj. D. & Co., 313 Vine Street. Stephenson & Potter, Union Central Bldg. Dayton. Barth Co., J. L., Dixie Terminal Bldg. Thurnauer, Max, First Nat’l. Bk. Bldg. Harvey, M. C., 216 Superior Ave., N.E., Cleveland. Bruner, George, 3010 Observatory Rd. Tyree, Victor L., 3133 Menlo Ave. Hill & Co., Carew Tower. Chambers & Co., J. D., Union Trust Bldg. Horan, R. J., Union Trust Bldg. Van Lahr, Leo. Ed., 415 Provident Bk. Bldg. Cohle, H. B. & Co., 711 Union Trust Bldg. WEIL, ROTH & IRVING CO., THE, 217 Hutton, W. E. & Co., First National Bank Bldg. Cree, Ellwood H., 314 W. 4th St., Covington, Ky. Dixie Terminal Bldg. Dominick & Dominick, 115 Broadway, New York. IRWIN BALLMAN CO., THE, First National Westerfield, Ralph, Union Trust Bldg. Duble, Dennison, 403 First Nat’l. Bldg. Bank Bldg. Westheimer & Co., First National Bank Bldg. Dunlap, T. Oliver, Mercantile Library Bldg. Westheimer, E. J., W. L. Lyons & Co., Union Jaspers, J. G., First Nat’l. Bk. Bldg. Eustls, Geo. & Co., 810 Fourth National Bank Bldg. Lepper, A. & Co., First National Bank Bldg. Trust Bldg. Fox & Co., W. E„ Fourth Nat’l Bk. Bldg. Further Information on firms appearing In bold face type will be found in the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1671 CLEVELAND STOCK EXCHANGE Officers: Gordon S. Macklln, President; Percy W. Brown, Vice-President; C. B. Whitcomb, Secretary, Prices SCHEDULE OF COMMISSION KATES Stocks Selling Under $1 $ 1 10 25 50 125 300 500 and and and and and and and David G. Skall, Treasurer -, Wm. J. Perry, Asst. Secretary. Commission per Share 3c Minimum commission $1.00 up to and including 9^i.......... 7}4c up to and including 24 yg........................................ 15c up to and including 49J-g...... ...................... ........._............. 25c up to and including124 J4............ 30c up to and including299%........ 50c up to and including499%.................................. 75c over.......... ....................... ................................. ...................,$1.00 Minimum commission $2.00 MEMBERS BACIIE & CO., J. S., 200 National City Bldg. *Bahl, Jr., Gaylord W., 105 Mohican Bldg., Mansfield, O. ♦Bell & Beckwith, Home Bank Bldg., Toledo. O. Borton, Bates & Co., 1937 Union Trust Bldg. Butler, Wick & Co., Union National Bldg., Youngstown Clark & Co., 981 Union Trust Bldg. ♦Collin. Norton & Co., Gardner Bldg., Toledo, O. Curtiss, House & Co., 1201 Union Trust Bldg. Fenner & Beane, Leader Bldg. Gentsch, Robbins & Co., 1746 Union Trust Bldg. GILLIS, WOOD & CO., 1585 Union Trust Bldg. Will S. Halle & Co., 511 Swetland Bldg. Hawley, Huller & Co., 1436 Union Trust Bldg. Hayden, Miller & Co., 1250 Union Trust Bldg. Hornblower & Weeks, 1040 Union Trust Bldg. Jackson & Curtis, 1737 Union Trust Bldg. Kraus, Cunningham & Co., 1846 Union Trust Bldg. Murch & Co. Maynard H., 1186 Union Trust Bldg. Murfey, Blossom & Co., 901 Guardian Bldg. Paine, Webber & Co., 1111 Terminal Tower Bldg. E. A. Pierce & Co., 215 Cuyahoga Bldg. (Associate Members*) Ityan & McManus, 39 Broadway, N. Y. Schultz & Co., L. J., 736 Union Tr. Bldg. David G. Skall & Co., 2031 Union Trust Bldg. W. S. Snyder & Co., 2027 Union Trust Bldg Soucy, Swartswelter & Co., 1704 Central National Bank Bldg. Stanley & Co., 1740 East Twelfth St. ♦Stevenson, Vercoe, Fuller & Lorenz, Huntington Bank Bldg., Columbus, O. ♦Vercoe & Co., Huntington Bk. Bldg., Columbus. Wellsted, Macklin & Co., 1280 Union Trust Bldg Witt, John P. & Co., 2008 Union Trust Bldg. York, Geo. W. & Co., 1012 Swetland Bldg. PENNSYLVANIA PHILADELPHIA STOCK EXCHANGE Officers: Howard Butcher. Jr., President; B. Frank Townsend, Jr., Vice-President; Frank C. Matthews. Secretary; Frank E. Baker, Treasurer John R. Huhn. Jr., Assistant Secretary and Assistant Treasurer; Thomas B. Gravatt, Assistant Secretary, Assistant Treasurer and Auditor. COMMISSION RATES (March 1, 1937) BONDS STOCK SUBSCRIPTION RIGHTS STOCKS Selling under 50c------------------------------------------------ As mutually agreed Selling at 50c and above, but under $1.00....................... Not less than 3c Selling at $1.0u and above, but under $5.00.......................Not less than 5c Selling at $5.00 and above, but under $10.00.................. Not less than 7Hc Selling at $10.00 and above.................................... ..........Not less than 15c The minimum commission on any transaction for non-members shall be Bonds and notes having over one year to run, not less than $2.50 for each $1,000 par value. Bonds and notes having one year or less to run, and obligations of the United States, Porto Rico, Philippine Islands and States, Territories and Municipalities therein, and Bonds or Notes of Foreign Countries having five years or less to run, such rates of commission to members and non-members as may be mutually agreed upon. Price Rate Per Share Selling under 50c.............. ....................... -...................... As mutually agreed Soiling at 50c and above, but under $1.00....................... Not less than 3c Selling at $1.00 and above, but under $10.00..................Not less than 7Hc Selling at $10.00 and above, but under $25.00................Not less than 12%c Selling at $25.00 and above, but under $50.00..............Not less than 15c Selling at $50.00 and above, but under $75.00.............Not less than 17J^c Selling at $75.00 and above, but under $100.00..............Not less than 20c Selling at $100.00 and above, but under $200.00............Not less than 25c Selling at $200.00 and above, but under $250.00______Not less than 30c For each $50.00 increase in price 5c per share additional. Price Rate Per Right $1.00. Exception to Commission Rates, effective February 4, 1932: Members are permitted to charge a commission equal to that in force in any dual market in which a security is traded. MEMBERS Ashton, Augustus Trask, 1501 Finance Bldg. BACHE, J. S., & CO., Pennsylvania Bldg. Baker, Weeks & Harden, Commercial Trust Bldg. Banks, Clayton F., 123 So. Broad St. Barclay, Henry C., 123 So. Broad St. Barclay, Moore & Co., 123 S. Broad Street. Barney, Chas. D., & Co., 1428 Walnut Street. Bayuk Brothers, Packard Bldg. Bean. Chas. H„ & Co.. 1528 Walnut Street Bernstein, Harry L., 518 Stock Exchange Bldg. Biddle & Co., Moncure, 1520 Locust Street. Biddle, Whelen & Co., 1606 Walnut St. Bioren, John S., 1508 Walnut Street. BIOREN & CO., 1508 Walnut Street. Boenning & Co., 1606 Walnut Street. Brown, Howard B., 1616 Walnut Street. Brown (Vernon C.) & Co., 71 Broadway, New York. N. Y. BROWN BROTHERS UARRIMAN & CO., 1531 Walnut St. Bryan, Penington & Colket, 123 S. Broad St. Brylawski, Edward L., 1611 Walnut St. Buckley Brothers, 1529 Walnut St. Butcher & Sherrerd. 220 Real Estate Trust Bldg. Carstairs & Co., 1610 Walnut St. Cherry, Robert, Jr., 113 So. Fifth St. Clark, E. W., & Co., 16th and Locust St. Clark, Kenneth R., 1500 Walnut St. Clucas, (E. W.) & Co., 70 Pine St., New York, N. Y. Cochrane. Alexander, 60 State St., Boston, Mass. Conklin. Roscoe C, 518 Stock Exchange Bldg. Dackerman & Waber, 517 Stock Exchange Bldg. Davis, Robert Hare, 824 Stock Exchange Bldg. deCoursey, Stephen H., 44 N. 4th St. DeHaven & Townsend, 1513 Walnut Street. Diffenderffer & Co., 1611 Walnut Street. Dixon, Fitz Eugene, 1411 Chestnut St. Donoghue, Daniel C., Jr., 123 S. Broad St. Jefferis, W. Harper, 1518 Walnut St. Jenks, Gwynne & Co., 65 Broadway, New York, N. Y. Jones, Miller & Co., Commercial Trust Bldg. DREXEL & CO., 15th and Walnut Streets. Drummon, Chester W., 626 Stock Exchange Bldg. Eastman, Dillon & Co., 1506 Walnut St. Elkins. Morris & Co., 305 Land Title Bldg. Embick, Paul A., 518 Stock Exchange Bldg. Emory, Freed & Co., 109 S. 3rd Street. Fearon, Charles. 511 Chestnut St. Flynn, Bernard J., 46 No. 40th St. Fox, Geo. S., & Sons, 1600 Girard Trust Bldg. French, E. W., & Co.. 123 S. Broad Street. Fuller. W. A. M.. & Co., 1510 Chestnut Street. Garber, F. W., & Co., 115-117 S. 5th Street. Gayley, McCreary & Co.. 817 Packard Bldg. Gilmore, Arthur C., Provident Trust Bldg. Glendinning, Robt.. & Co., Packard Bldg. Goldman, Harold C., 811 Stock Exchange Bldg. Graff, Frank M„ 1508 Walnut St. Greene, Norman J., Berwyn, Pa. Greenwood, Herbert T„ 518 Stock Exchange Bldg. Greer, Thomas Raymond, 309 Otis Bldg. Guarniery, Robert Y„ 518 Stock Exchange Bldg. Hammitt & Co., 602 Stock Exchange Bldg. Hamstrom & Co., 215 Real Estate Trust Bldg. Harper, James B., Stock Exchange Bldg. Harrison & Co., 123 S. Broad Street. Hauberger, George H., 609 Stock Exchange Bldg. Hecker & Co., Liberty Trust Bldg. Hibbs (W. B.) & Co., Hibbs Bldg., Washington, D. C. Hopper, Soliday & Co.. 1420 Walnut St. Hornblower & Weeks. 1429 Walnut Street, Huhn, John R., Jr., Stock Exchange Bldg. Hutton & Co.. W. E.. 1529 Walnut St. Janney, Walter C., 1529 Walnut St. Kelly, James J., 1611 Walnut St. Kennedy & Co., 2115 Land Title Bldg. Kolb, Robert A., 1608 Walnut St. Ladenburg, Thalmann & Co., 25 Broad St., New York, N. Y. Laird, Bissell & Meeds, 1528 Walnut Street. Lawson, W. L„ Union League. Lee, John K„ 1411 Walnut St. Lilley & Co., 1520 Packard Bldg. Lippincott, Richard, 220 S. 16th St. Loeb, Oscar, 824 Stock Exchange Bldg. Louchheim, Walter C., 30 Pine St., New York, N. Y. MacDonald & Co., 234 Real Estate Trust Bldg. MacMeekin & Co.. 123 S. Broad Street. Makiver, J. S. P., 1510 Chestnut St. Mails, David S., 805 Land Title Bldg. Masland, Fernon & Anderson, Packard Bldg. Matthes, Percy E., 305 Land Title Bldg. Matthews, Caldwell F., 1411 Walnut St. Matthews, Frank C., Stock Exchange Bldg. McCreery, Samuel & Co., 123 S. Broad Street. McCurdy, Wallace M., 1237 Commercial Trust Bldg. McLaughlin, Jr., William J., 1411 Walnut St. Mellor E. Fraley, 518 Stock Exchange Bldg. Montgomery, Scott & Co., 123 S. Broad Street. Moore, E. J., & Co., 141 South Fourth Street. Moore, Leonard & Lynch, 111 Broadway, New York. Moorhead, Barlow, Germantown Cricket Club. Morgan, Reed A., & Co., 1735 Commercial Trust Bldg. Moyer & Co., 1500 Walnut Street. Newbold’s Son, W. H., & Co.. 1517 Locust Street. Newburger, Loeb & Co., 1419 Walnut Street. Further Information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1672 PHILADELPHIA STOCK EXCHANGE—Continued MEMBERS Nick, (J. F.) & Co., 120 Broadway, New York. Niemond & Co., John S„ Harrisburg, Pa. Palmer & Co., E. W., Commercial Trust Bldg. Parke, John S., 1415 Walnut St. Parrish & Co., 212 South 15th Street. Phillips, Samuel K„ & Co., 1317 Packard Bldg. Powell, A Victor, 6205 Ocean Ave.,Ventnor, N. J. Rakestraw, Betz & Co., 123 So. Broad St. Rebre, Charles A., 403 Stock Exchange Bldg. Ristlne, F. P., & Co., 123 S. Broad Street. Rosenbaum, Leon, 6803 N. 12th St. Rourke, William J., Packard Bldg. Rowe, Robert G., 1429 Walnut St. Sailer, A. J. & Co., 113 S. 5th Street. Seeler & Co., 435 Chestnut St. Sloane & Co., Stock Exchange Bldg. Smith, Edward B„ & Co., 1411 Chestnut Street. Smith, W. Hinckle, Girard Trust Co. Bldg. Snyder, Geo. E„ & Co., 600-601 Stock Exchange Bldg. Snyder, R. Maurice, 1518 Locust St. Sparks, J. W„ & Co., 1510 Chestnut Street. Spiegelman, Solomon B., 518 Stock Exchange Bldg. Starr & Co., 123 S. Broad Street. Stephenson, George H., Stock Exchange Bldg. Steppacher, Lester G„ 403 Stock Exchange Bldg. Strecker, Daniel E., 3451 Frankford Ave. Sulzbacher, Granger & Co., Ill Broadway, New York, N. Y. Suplee, Jr., Horace L., 123 S. Broad St. Suplee, Walter S„ 123 S. Broad St. Sutro Bros. & Co., 120 Broadway, New York. N. Y. Swab, H. M. & Son, 47 Bourse Bldg. Tague, Jr., Edward J., 517 Stock Exchange Bldg. Taylor, Robert D., Stock Exchange Bldg. Taylor, Roland L., 1100 Morris Bldg. Thomas, Edward R„ 1428 Walnut St. Thompson, Edward S., Land Title Bldg. Trimble & Co., 1326 Walnut Street. Turner, Gill & Crouter, 1614 Packard Bldg. Turton, George L., 517 Stock Exchange. Vrooman, Samuel B., Jr., 1411 Walnut St. Walsh, Frank C., 115 Broadway, New York. Warwick, Arthur D., Stock Exchange Bldg. Watson, Clifford A., 1420 Walnut St. Weeks, Henry C., 1518 Locust St. Wells, Charles C„ 609 Stock Exchange Bldg. Wheeler & Co., 1100 Girard Trust Bldg. Wieand, Jr., Franklin D., 1508 Walnut St. Williamson, Jr., James A., 123 S. Broad St. Wilmer & Co., 123 S. Broad St. Wistar, Carter & Co., 1735 Commercial Trust Bldg. Wolf Bros. & Co., 1700 Walnut Street. WOOD, A. C., Jtt., & CO., 511 Chestnut St. Wood, Charles M„ 1513 Walnut St. Woodside, J. Alan, 403 Stock Exchange Bldg. Wright & Sexton, 1 Wall St., New York, N. Y. Wurts, C. S. & Co., 1327 Walnut Street. Wurts, Dulles & Co., Philadelphia Bank Bldg. Wyckotf & Co., Edward G., 1528 Walnut Street Wynn, Charles K., 1510 Chestnut St. Yarnall & Co., 1528 Walnut Street. PITTSBURGH STOCK EXCHANGE (229 Fourth Ave.) Officers: R. S. Richards, President; F X Pfab Asst. Secretary; Samuel Carothers, Vice-President; Wm. J. Bauer, Treasurer; Hugh A. McNlcol, Secretary, Arthur Middleton, Manager Clearing House; W. G. Ganter, Assistant Manager Clearing House RATES OF COMMISSION (Effective on and after March 17, 1933) The minimum rates of commission charged to nonmembers of the Exchange for buying or selling each $1,000 bond shall be not less than $2.50 (these commissions shall not apply to government, state or municipal bonds or bonds and notes having five (5) years or less to run); for buying or selling each share of stock, shall be not less than as follows: 3%* Stocks selling under 50c a share.............. .03 Stocks selling at 50c and under $1.00----.04 Stocks selling at $1.00 and under $3.00... .075 Stocks selling at $3.00 and under $10.00.. .125 Stocks selling at $10.00 and under $25.00 .15 Stocks selling at $25.00 and under $50.00 Stocks selling at $50.00 and under $75.00.............................................. .175 Stocks selling at $75.00 and under $100.00.............................................. 20 Stocks selling at $100.00 and under $200.00.......................................... 25 Stocks selling at $200.00, $0.15 per share additional, and for each advance of $100.00 in the selling price, an additional $0.15 per share. A minimum commission of not less than $1.00 shall be charged on all transactions. Commission for buying or selling memberships in the Exchange shall be 1% of the price. * 3% of the amount Involved. MEMBERS Anderson, J. Willard, 487 Union Trust Bldg. Askin, George K„ Union Trust Bldg. Asktn & Company, J. M„ Columbia Bldg. BACHE & CO., J. S., Oliver Bldg. Ballard & Co., W. E„ Keystone Bk. Bldg. Barbour & Company, John B., Magee Bldg. Bear & Co., S. Lee, Union Trust Bldg. Berberich, Alvin F„ Perrysville, Pa. Berger, Andrew B„ c/o Potter Title & Trust Co. Borntraeger, Carl H„ 229 Fourth Ave. Bowman & Co., 704 People’s Bldg. Brinham, A. L.. 229 Fourth Ave. Brinker, Bell & Co., Union Trust Bldg. Carothers & Company, James, Farmers Bank Bldg. Chapin & Co.. S. B„ 111 Broadway, New York. Chaplin & Co., 419 Wood St. Crawford, Jas. S„ Duquesne, Pa. Diehl, George, 61 Carrlck Ave. Dlffenderfer, Fred, 229 Fourth Ave. Dinkey, Jr., Chas. E., 229 Fourth Ave. Dixon, Joseph M„ 437 Fourth Ave. Dornberger & Co., C. S., 229 4th Ave. Edmundson, Jr., Eli, Columbia Bldg. EDWARDS & COMPANY, H. S., Union Bank Bldg. Evans, Sanford B„ 229 Fourth Ave. Fenner & Beane, 67 Broad St., New York, N. Y. Foster & Company, Bayard. 244 Oliver Bldg. Giles, R. C., 229 Fourth Ave. Gillespie, I. L., 1727 Grant Bldg. Glendinning & Co., Robt., Packard Bldg., Phila. Gluck, Hetzel & Co., Arrott Bldg. Goldsborough & Co., W. W., Union Bank Bldg. Goldsborough, T. C., 1701 Union Bank, Bldg. Grubbs, Scoti Company, Union Trust Bldg. Hall, Cherry, Wheeler & Co., Rand Bldg., Buffalo, N. Y. Harrlman, Henry A., 229 Fourth Ave. Hays, Louis B„ 1001 Keystone Bank Bldg. Hemphill, Noyes & Co., 15 Broad St., New York, N. Y. Howley, Walter L., P. 0. Box 988 Hubbard, John W., 605 Granite Bldg. Kane, John A., 229 Fourth Ave. Kay, Richards & Company, Union Trust Bldg. King, Jr., W. C., 1110-A Union Bank Bldg. Kissane, James V., 229 Fourth Ave. Kuhn, G. C„ 229 Fourth Ave. Marshall & Co., Commonwealth Bldg. MASTEN & COMPANY, A. E., First Nat’l Bank Bldg. McCutcheon, McKelvy & Durant, Union Trust Bldg. McJunkin, Patton & Company, 414 Union Bank Bldg. McLaughlin, MacAfee & Co., 844 Oliver Bldg. Mitchell & Craft, Washington, Pa. Moore, Leonard & Lynch, Union Trust Bldg. Moreland, A. M., First Nat’l Bank Bldg. Morris, Brown & Company, 316 Fourth Ave. Neeb, Jr., H. A., 340 S. Winebiddie Ave. Neuhut, Plohn & Co., 60 Broad St., New York, N. Y. Noll, I. D., 50 Broad St., New York, N. Y. Nuttall & Company, R. V., Park Bldg. Parrish & Company, Investment Bldg. Phillips-Schmertz & Co., Union Trust Bldg. Post & Flagg, 49 Broad St., New York, N. Y. Poutre, Ezra E., Arrott Bldg. Powell & Co., Elmer E., Union Trust Bldg. Preston, Watt & Schoyer, Peoples Bldg. Purman, Thomas R., Washington, Pa. Reilly, Eugene S., 430 Fourth Ave. Reinstadtler, Thomas J., 229 Fourth Ave. Reynolds & Company, Grant Bldg. Roberts, Daniel Rlsher, 229 Fourth Ave. Rosenbloom, Arthur M„ Union Trust Bldg. Singer, Deane & Scribner, 1045 Union Trust Bldg. Siviter, W. H., 229 Fourth Ave. Smith, Lew W., 229 Fourth Ave. Stein, Charles Jay, 1456 Inverness St. Sterling, Louis V., 42 Broadway, New York, N. Y. Stevenson, Vercoe, Fuller & Lorenz, Huntington Bank Bldg., Columbus, Ohio. Stlmmel & Company, Union Trust Bldg. Stout & Company, Investment Bldg. Stubner & Co., C. J., 437 Union Trust Bldg. Sturgeon, John F., Mellon Nat’l Bank Bldg. Sunstein & Co., E., 610 Bessemer Bldg. Ullery, M. D., 235 Fourth Ave. Vercoe & Co., Huntington Nat’l Bank Bldg., Columbus, Ohio. Wainwright & Co., H. C„ Union Trust Bldg. Weed, Hall, Berndt & C’o., 40 Wall St., New York, N. Y. Wettach & Company, 218 Fourth Ave. Wettengel & Company, A. C„ Peoples Bank Bldg. Wilson, Walter J., Penn Ave. and Barbeau St. York, Darwin S., 229 Fourth Ave. Further Information on firms appearing In bold face type will be found In tbe selected list of Investment Dealers following bank list In eaeb city, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1673 STOCK EXCHANGE MEMBERS UTAH Officers: J. A. Barclay, President; SALT LAKE CITY STOCK EXCHANGE I. D. Lowe, 1st Vice-President; B. W. Dixon, 2nd Vice-President; E. A. Bering, 3rd Vice-President; J. H. Doming, Secretary and Treasurer; E. P. Emery, Asst. Secretary and Caller. COMMISSION CHARGED ___ 1 % cent per share Stocks selling at 75c and under $1.00-------------$1.00 per 1,000 shares Stocks selling under lc..................... 1% per cent on money Stocks selling at $1.00 and under $10.00........... $1.25 per 1,000 shares Stocks selling at lc and under 5c... ..1 per cent on money Stocks selling at $10.00 and above..................... per 1,000 shares .$2.50 Stocks selling at 5c and under 10c.. __2 per cent on money On last 2 Items, on less than board lots................ ..........% cent per share Stocks selling at 10c and under 35c. No commission charge of less than One Dollar. ..........1 cent per share Stocks selling at 35c and under 75c. MEMBERS Allen, J. M„ Atlas Bldg. McLeod, J. N„ 1111 Walker Bk. Bldg. Dixon Co.. B. W., Scott Bldg. Nebeker, W. D„ Stock Exchange Bldg. Doscher. H. W„ Walker Bank Bldg. Baglin, George, Felt Bldg. Badger, R. A. & Co., 16 West 2nd So. Btreet. Romney, W. W., c/o Continental Bank & Trust Co. Finn, Alex V., 25 Beaver St., New York, N. Y. Badger, Richard C., 2380 Washington Ave., Snow, V S., 282 Canyon Road. First Security Trust Co., Salt Lake City. Ogden. Ure, Pett & Morris, Inc., 21 East 2nd St. Barclay, J. A., Newhouse Bldg. Thomas, A. Blake, 208 Lyon Bldg., Reno, Nev. Gibson, E. J., Box No 17, Spokane, Wash. Berger, B. M., 67 Wall St., New York, N. Y. Van Voorhis, L. P. First Security Co., Ogden Bering, E. A., Walker Bank & Trust Co. Havenor, Pett & Co., Newhouse Bldg. Walker Bk. & Tr. Co., Salt Lake City. Bryan, B. B., 42 Broadway, New York, N. Y. Hogle, J. A. & Co., 132 So. Main Street. Watson, Geo. H. & Co., 22% E. 1st So. St. Weggeland, Gordon, Walker Bank Bldg. Johnson, J. C., 132 S. Main St. CHILD, BARCLAY CO„ Exchange Bldg. Weiler, W. S., Stock Exchange Bldg. Knight, James W., 1956 Penobscot Bldg., Detroit, A. J. West, First Security Trust Co. Mich. Whitney, C L., Stock Exchange Bldg Cole, Allen Co.. Atlas Bldg. Woods, Wm. W., c/o E. A. Pierce & Co., 301 Conrad, W. K„ Walker Bank Bldg. Larson, A. R., c/o Elks Club, Salt Lake City. St., San Francisco, Calif. Montgomery Continental Bank & Trust Co., Salt Lake City. Lowe, I. D., 132 S. Main St. Woolley, F. R„ Beason Bldg. Lynch, J. C. & Co., Kearns Bldg. Davies, Badger & Co., 23 W. 2nd So. St. Zeitlin, Ralph, 312 Bartlett Bldg., Los Angeles, McFann, R. G., U. S. N. Bk. Bldg., Denver, Colo. Doming, J. H., Felt Bldg., Salt Lake City. Calif. VIRGINIA Officers: Robert P. Martin, President; STOCKS Selling under 50c............................................. Selling at 50c and under $1.00 per share__ Selling at $1.00 and under $5.00 per share.. Selling at $5.00 and under $10.00 per share. Selling at $10 and under $15 per share___ Selling at $15 and under $50......................... Selling at $50 and under $150...................... 8elling at $150 and over................................ Abbott, Proctor & Paine, 911 E. Main St. Branch, Cabell & Co., 814 E. Main St. Branch, Thomas & Co., 1101 E. Main St. Burch, Caskie G. & Company, 20 N. 9th St. Davenport & Company, 113 E. Main Street RICHMOND STOCK EXCHANGE Beverley B. Munford, Jr., Vice-President; COMMISSIONS ___3% of amount ... 5cper share ... 7%c “ “ ...10c “ “ . 12%c per share . 25c “ “ . 50c “ " 1.00 . “ J. Joseph May, Secretary and Treasurer BONDS Municipals, public utilities, and rails...................................25c per hundred All others................................................................................ 50c “ " “ MEMBERS Mason-Hagan, Inc., 916 E. Main Street. Miller & Patterson, 203 Mutual Bldg. NOLTING, FRED’K E., INC., 8th and Main Sts. RICHMOND CORP., 726 E. Main Street. Scott & Stringfellow, Mutual Bldg Standard Securities Corp., State Planters Bank Bldg. Wheat, James C., American Nat’l Bk. Bldg. Williams. John C. & Company, 1107 E. Main St. WASHINGTON SEATTLE STOCK EXCHANGE (302 Exchange Bldg.) Charles G. Mullen, President; Sherman Ellsworth, Vice-President; Edward K. Easter, Secretary; Lyle F. Wilson, Treasurer; Louis Klatzker, Executive Secretary; Charles T. Donworth, Counsel. RATES OF COMMISSION [In effect: October 14, 1935) In effect October 14,1935 MINIMUM RATES OF COMMISSION BOARD LOT On Stocks Selling: 100 shares up to $10.00 Under $1.00 per share....................................................................... 5c 25 shares for $10.00 to $100.00 At $1.00 and under $2.50 per share............... 7%c 10 shares over $100.00 At $2.50 and under $5.00 per share................................................. 12%c The minimum commission charge shall be $2.50 on stock selling under At $5.00 and under $15.00 per share............................................... 15c $10.00 per share, and $5.00 on stock selling over $10.00 per share. At $15.00 and under $35.00 per share........................................... 25c On all transactions where the total amount of money involved is less than At $35.00 and under $50.00 per share.......... .................................. 35c $25.00, the commission charge shall be discretionary with the member. At $50.00 and under $100.00 per share............................ 50c BONDS At $100.00 and up per share........................................................... $1.00 $5.00 per $1,000 par value (regardless of number) (5c per share more for odd lots) $3.75 per $500 par value MEMBERS Adam & Co., Exchange Bldg. Herrin & Co.. H. M„ Exchange Bldg. Pacific National Bank, Second and Madison. Hughbanks, Inc., Dexter Horton Bldg. Patten-Eyman & Co., 805 Exchange Bldg. Blackford, J. C., Hoge Bldg. Huston & Co.. Harold H., Hoge Bldg. Patten Jr., W. T„ 805 Exchange Bldg Bramhall & Stein, 1105 Hoge Bldg. Peoples Bank & Trust Co., 1414 4th Ave. Kutz & Co., John A., 1010 Second Ave. Crawford-GoodwinCo.,The, 1411 Fourth Ave. Bldg. Puget Mortgage Securities ,Inc., Insurance Bldg. Latimer & Co., A. G., Dexter Horton Bldg. Davis & Co., 1419-4th Ave. Pratt & Co . H. P„ Hoge Bldg. Lewis & Co., John L., 1012 Second Ave. Drumheller, Erlichman & White, Exchange Bldg. Riker, Jr., Joseph M., 1411 4th Ave. Bldg. Lincoln, Erwin & Co., 1214 Exchange Bldg. Easter & Co., F. K., 717 Second Ave. Lockett & Co., G„ 4736 45th St., S. W. Securities Exchange, Inc,, 335 Medical Arts Bldg. Ferris & Hardgrove, Exchange Bldg. Stone, Wm. F., 825 Exchange Bldg. MacDonald, Alexander, 104 Aloha St. Gelletly & Co., R„ 655 W. Pender St., Vancouver, Strout & Co., E. A., 1411 Fourth Ave. Bldg. McBurney, J. F., 1003 Green Bldg. Speckert, F. J., 105 Cherry St. McConahy, C. D„ American Bank Bldg. Gibson & Co., E. J., 5 Wall St., Spokane. Grande. Stolle & Co., 1605 Hoge Bldg Meiklejohn & Brown 1321 Smith Tower. Trusteed Estates of Wash., Central Bldg. Graves & Co., F. D., Bellingham Nat’l Bank Bldg., Mogan & Theis, 1003 Green Bldg. United National Corporation, Exchange Bldg, Bellingham. Northern Securities Co., 615 Boren Ave. von Herberg, J., Liberty Theater Bldg. Harper & Son Co., Wm. P., Hoge Bldg. Hartman & Hartman, Burke Bldg. Oakes, Prescott, 607-1411 Fourth Ave. Bid? Wood, Wm. D„ 545 W. Georgia St„ Vancouver,B.C . Officers: WEST VIRGINIA WHEELING STOCK EXCHANGE (318 Wheeling Steel Bldg.) Russell D. Irvine, Vice-President; C. M. Frye, Secretary-Treasurer COMMISSION RATES Price Wheeling Stock Exchange Rate per Share Selling up to 34% inc.............................................................. 25c per share Selling at 35 up to 99% inc.................................................. 50c per share Selling at $100 and above................................. .................... .$1.00 per share Minimum commission on any transaction $3.00, except where amount involved shall be less than $10.00 when it shall be as mutually agreed upon. Commission: In cases where stocks are listed on both Wheeling Stock Exchange and New York Stock Exchange, the minimum rate of commission may be the minimum commission charged on New York Stock Exchange. MEMBERS OF WHEELING STOCK EXCHANGE Firms Represented by Hazlett & Burt, Wheeling Steep Corp. Bldg. ...............................................H. C. Hazlett; D. A. Burt Geo. W. Baron & Co., Wheeling Steel Corp. Bldg. ........................... ......................... Wm. H. Wheeler A. E. Masten & Co., Central Union Bldg______ ___________ ____________ _____ .Louis F. Brand McGregor, Irvine & Anderson, 13th & Chapline St..... ...............Edgar R. McGregor; Russell D. Irvine John E. Stevenson, Inc., Hawley Bldg................................................. John E. Stevenson; Joe Jefferson Winthrop, Mitchell & Co., City Bank Bldg......................... ..................... ..........William E. Wardman Officers: Wm. H. Wheeler, President Further Information on firms appearing in bold face type will be found In the selected list of Investment Dealers following bank list in each city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■1^—1 TMls I 9—Pure and Simp A survey of the Directory advertising of the banks throughou the country shows that the Blue Book is used almost exclusively as indicated by the following facts: make a very fair comparison, three state SO. CENTRA Kentucky Tennessee Missouri Kansas . I Arkansas• Oklahoma Texas . . . mm EAST NO. CENTRAL MOUNTAIN I ■Mi ■■■■I ■Hi I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis m% California of the banks subscribing to bank directories b PNALLY BANKERS DIREC1 (BLUE BOOK) ■
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