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LOCAL STOCK EXCHANGE FIRMS NEW YORK Byck & Lowenfels, 50 Broad Street Bywater & Leary, 50 Broadway Cahn & Co., Frank B„ 120 Broadway. Callaway, Fish & Co., 15 Broad Street Campbell & Co., H. G„ 52 Broadway Carey, H. T. & Co., 50 Broadway Carleton & Mott, 170 Broadway Carlisle, Mellick & Co., 50 Broadway Carreau & Co., 63 Wall Street Carter & Co., 48 Wall Street. Caspary, A. H. & Co., 60 Broadway. Cassatt & Co., 1 Wall Street Abbott, Hoppin & Co., 120 Broadway Abraham & Co., 120 Broadway Adler, Coleman & Co., 15 Broad Street Anderson, Block & Co., 50 Broadway Andrews, Posner & Rothschild, 26 Broadway Appenzellar, Allen & Hill, 55 Broadway Arnold & Company, 32 Broadway Aronson (Bernard) & Co., 30 Broad Street Ash & Co., Mervin, 1 Wall Street ASIEL & CO., 11 Wall Street Auchincloss, Mills & Bergen, 1 Wall Street Auerbach, Poliak & Richardson, 30 Pine Street Baar, Cohen & Company, 120 Broadway CASSEL, H. & CO., 61 Broadway. Einstein & Co., H. G., 42 Broadway. Elias (Albert J.) & Co., 20 Broad St. Eliott & Co., Gilbert, 11 Broadway. Elmer & Nettleton, 49 Wall Street Ely & Son, 120 Broadway. Emanuel & Co., 32 Broadway Engel & Co., 120 Broadway Erdman & Co., 25 Broadway Eric & Drevers, 40 Wall Street. Ernst & Company, 1 S. William St. Estabrook & Co., 40 Wall Street Evans, Stillman & Co., 14 Wall Street Fagan & Goetz, 40 Wall St. Fahnestock & Co., 1 Wall Street Fahy & Co., Walter J., 29 Broadway Faroll Brothers, 50 Broadway Farr & Co., 90 Wall Street Blake Brothers & Co., 40 Wall Street Block (Benjamin) & Co., 50 Broadway. Blumenthal Bros., 71 Broadway Blyth, Bonner & Kimbley, 52 Wall St. Chapin, S. B. & Co., Ill Broadway Chapman, Carman & Co., 100 Broadway Chauncey & Co., 61 Broadway Chisholm & Chapman, 62 Broadway Clark, Childs & Keech, 11 Broadway Clark, Dodge & Co., 61 Wall Street Clark (Jno. F.) & Co., 40 Wall St. Clews & Co., Henry, 7-9-11 Broadway. Clifford & Co., 52 Wall Street. Clucas & Company, E. W., 70 Pine Street. Coggeshall & Hicks, 111 Broadway Cohen, Simonson & Co., 30 Broad Street Cohen, Wachsman & Wassail, 70 Pine Street Cohff Brothers, 90 Broad St. Colgate, Jas. B. & Co., 44 Wall Street Condon & Proctor, 14 Wall Street Connelly & Co., F. J., 15 Broad St. Conried & Co., 24 Broad Street Content & Co., H., Ill Broadway. Corlies & Booker, 90 Broad Street Coulon & Co., E. J., 50 Broadway. Cowen & Co., 120 Broadway Curtis & Co., 25 Broadway Curtiss, House & Company, 61 Wall Street Dann & Company, J. C., 65 Broadway. Davis & Co., Fellowes, 52 Broadway. Davis & Co., J. W„ 111 Broadway. Davis & McIntosh, 61 Broadway Davis & Co., Morgan. 15 Broad St. Day & Co., R. L„ 14 Wall Street. De Coppet & Doremus, 42 Broadway de Cordova & Bro., Cyril, 25 Broad Street. De Haven & Townsend, 52 Broadway Denny, Saportas & Co., 1 Wall Street De Voe, Dyke & Sperry, 25 Broad St. De Witt, Fleitmann & Co., 120 Broadway. BOETTCHER, NEWTON & CO., 52 Wall St. DICK & MERLE-SMITH, 30 Pine Street Bogert & Co., Beverly, 120 Broadway. Bond, McEnany & Co., 60 Beaver Street Boody, McLellan & Co., Ill Broadway Bouvier & Co., M. C., 20 Broad Street Bradley, Boyle & Wilson, 1 Wall Street Bramley & Smith, 52 Broadway Brand, Grumet & Co., 120 Broadway Brandenburg & Co., 40 Wall Street Breining & Co., 17 Battery Place Brooks & Co., J. H„ 1 Wall Street. Brown Brothers Harriman & Co., 59 Wall Street. Brown & Gruner, 39 Broadway Brown & Co., Vernon C„ 71 Broadway. Brumley & Anderson, 120 Broadway Bryan* Penington & Colket, 48 Wall St. Dietrich & Company, F„ 1 Wall Street. Disbrow, Dixon & Potts, 120 Broadway Dixon & Co., G. A., 42 Broadway Dobbs & Company, 1 William St. Filer & Co., 39 Broadway Filor, Bullard & Smyth, 39 Broadway Finch, Wilson & Co., 120 Broadway Florentlno & Co., 120 Broadway Foster & Adams, 120 Broadway Foster (F. V.) & Co., 11 Wall Street. Foster, Marvin & Co., 2 Wall Street Fox, O’Hara & Co., 60 Broad Street Frank & Sterling, 71 Broadway Fransioli & Wilson, 120 Broadway Fried & Company, Albert, 120 Broadway. Fuller (Henry B.) & Co., 67 Broad Street Fuller, Rodney & Co., 14 Wall Street Gaines & Company, 1 Wall Street Gammack & Co., 39 Broadway George & Farrington, 52 Wall Street Gilbert & Co., Clinton, 120 Broadway Gilchrist, Bliss & Co., 120 Broadway Gilmor, Robert & Son, 1 Wall Street Gimbel & Co., Louis, 48 Wall Street Goadby & Co., W. H„ 120 Broadway Goldman, Sachs & Co., 30 Pine Street Goldsmith (H. W. )& Co., 11 Wall St. Goodbody & Co., 115 Broadway Gordon & Whitney, 115 Broadway Granberry & Co., 50 Broadway Graves, Banning & Co., 14 Wall St. Gray & Wilmerding, 44 Wall Street Green, Ellis & Anderson, 100 Broadway Greene & Brock, 40 Wall Street Greer, Crane & Webb, 37 Wall Street Gruntal & Co., 60 Broadway Gude, Winmill & Co., 1 Wall Street Gutenstein & Markoe, 25 Broadway Halladay & Co., 14 Wall Street DOMINICK & DOMINICK, 115 Broadway HALLE & STIEGLITZ, 25 Broad Street Douglas & Company, F. H., 61 Broadway. Doyle & Company, Frank. 50 Broadway. HALLGARTEN & CO., 44 Pine Street DRYSDALE & CO., 71 Broadway HALSEY & CO., C. D., 90 Broad Street Duff & Co., J. Robinson, 1 Wall Street. Dunne & Co., John V., 19 Rector Street. Dunscombe & Co., 60 Broad Street du Pont, Francis I. & Co., 1 Wall Street Dyer, Hudson & Co., 61 Broadway EASTMAN, DILLON & CO., 120 Broadway Halsted & Harrison, 1 Wall Street Hamershlag, Borg & Co., 39 Broadway Hano & Co., 120 Broadway Harde & Ellis, 30 Broad St. Hardy & Company, 11 Broadway Harp, Tierney & Co., 39 Broadway Harriman & Co., Ill Broadway Edge & Co., C. N„ 20 Exchange Place. Edmonds & Pentz, 1 Wall Street. HARRIS, UPHAM & CO., 11 Wall Street BABCOCK, RUSHTON & CO., 50 Broadway BACHE & CO., J. S., 42 Broadway Bacon, Stevenson & Co., 39 Broadway. Baker, Weeks & Harden, 52 Wall Street Barbee & Co., 40 Wall Street Barney & Co.,Chas. D„ 65 Broadway Barnwell, Arthur & Co., 24 Broad Street Barrett & Company, 30 Broad Street Barry & Hughes, 11 Broadway. Batsell & Co., 49 Broad Street Baylis & Co., 25 Broadway. Bear, Stearns & Company, 1 Wall Street Beekman, ffm. B. & Co., 20 Broad Street Beer & Company, 30 Broad Street Belden & Co., 1 Wall Street Bell & Beckwith, 42 Broadway Benedict, E. C. & Co., 71 Broadway Benjamin & Ferguson, 61 Broadway Benjamin, Hill & Company, 39 Broadway Bennett, James E. & Co., 23-25 Beaver Street Berdell Bros., 1 Wall Street Berg, Eyre & Kerr, 50 Broadway Bernard, Winkler & Co., 52 Wall Street Biggs, Mohrman & Co., 1 Wall Street BILLINGS, OLCOTT Broadway & COMPANY, BULL & ELDREDGE, 39 Broadway. BURNET (W. E.) & CO., 11 Wall Street Burnham, Herman & Co., 44 Wall Street Burnside & Co., 61 Broadway Burton, Cluett & Dana, 120 Broadway Butler, Herrick & Marshall, 30 Broad Street 52 FENNER & BEANE, 67 Broad St. FIELD, GLORE & CO., 38 Wall Street Further Information on firms appearing In bold lace type will be found In the selected list of Investment Dealers following bank list In each city. 88 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1673 1674 LOCAL STOCK EXCHANGE FIRMS NEW YORK—Continued Hartshorne, Fales & Co., 71 Broadway Haupt & Company, Ira, 39 Broadway HAYDEN, STONE & CO., 25 Broad Street Hedberg & Koppiscb, 1 Wall St. Hedge & Price, 40 Wall Street HEIDELBACH, ICKELHEIMER & CO., 49 Wall Street Hemphill, Noyes & Co., 15 Broad Street Henderson & Company, 40 Wall Street Henderson, Charles F. & Sons, 71 Broadway Hendrickson & Co., 61 Broadway Hentz, H. & Co., 60 Beaver Street Herrick, Berg & Co., 40 Wall Street Herzfeld & Stern, 30 Broad Street Hewitt, Lauderdale & Co., 61 Broadway Hill, Charles W. & Co., 1 Wall Street Hirsch, Lillenthal & Co., 165 Broadway Hoge, Underhill & Co., 11 Broadway Holmes & Co., J. H., 120 Broadway Holsapple, Safford & Co., 59 Cedar Street Homans & Co., 120 Broadway HOBNBLOWEB & WEEKS, 42 Broadway Horton, H. L. & Co., 1 Wall Street Howell, Brayton, Douglass & Co., 40 Wall Street Hoyt & Co., (Colgate,) 14 Wall Street Hubbard Bros. & Co., 66 Beaver Street Hume & Thompson, 60 Broadway HUTTON & CO., E. F., 61 Broadway Hutton & Co., W. E., 52 Wall Street Hyde & Bach, 15 Broad Street Hyman & Co., 61 Broadway Ingalls & Snyder, 100 Broadway 1SELIN & CO., A., 40 Wall Street Jackson Bros., Boesel & Company, 26 Broadway JACKSON & CURTIS, 115 Broadway Jacobson & Co., Benjamin, 120 Broadway Jacquelin & De Coppet, 47 Broad Street Jelke & Co., (Frazier) 40 Wall Street Jenks, Gwynne & Co., 65 Broadway Jennings (G. C.) & Co., Ill Broadway. Jesup & Lamont, 26 Broadway Jewett, Newman & Co., 25 Broad Street Johnson & Wood, 120 Broadway Joost, Patrick & Company, 90 Broad Street Joseph & Co., Morris, 25 Beaver Street Josephthal & Co., 120 Broadway Kaiser & Company, Louis, 150 Broadway. Kean. Taylor & Co., 20 Exchange Place Kennedy & Co., 1 Wall Street Kerr & Armstrong, 42 Broadway KIDDER & CO., A. M., 1 Wall Street KIDDER, PEABODY & CO., 17 Wall Street Koch & Co., Spencer B., 29 Broadway Kohler, Sheerin & Fish, 48 Wall Street KUHN, LOEB & CO., 52-54 William Street La Branche & Company, 50 Broadway Ladenburg, Thalmann & Co., 25 Broad Street LAIDLAW & CO., 26 Broadway Laird, Bissell & Meeds, 120 Broadway Lamborn, Hutchings & Co., 37 Wall Street Langley & Co., W. C., 115 Broadway Lansburgh Brothers, 30 Broad Street Lapham, Holden & Reimer, 44 Pine Street Larkin & Petersen, 1 Wall St. Lauer & Co., William E., 50 Broadway Lawrence & Sons, Cyrus J., 115 Broadway LAZARD FRERES, 19 Nassau Street Lee, Higginson & Co., 37 Broad Street Lehman Bros., 1 William Street Leopold & Co., James M., 70 Wall Street Levy & Co., Robert J., 165 Broadway Lewinson & Co., Sydney, 40 Wall Street Lewisohn & Sons, Adolph, 61 Broadway Libaire & Company, 37 Wall Street Lindley & Co., 44 Wall St. Llpper & Co., Arthur, 50 Broad Street Livingston & Company, 111 Broadway. Livingstone, Dennis & Renfrew, 40 Wall Street Lloyd & Co., 39 Broadway. Lober Brothers & Co., 37 Wall Street. Lockwood, Peck & Co., 52 Broadway. Loeb & Co., Carl M., 48 Wall Street. Loeb, Alsberg & Berliner, 39 Broadway Loew & Co., 2 Wall Street. Loewi & Co., Mortimer W., 30 Broad Street Lowell & Son, 30 Broad Street Lowitz, E. & Co., 29 Broadway. Luke, Banks & Weeks, 1 Wall Street. Lyon & Co., W. Wallace, 40 Wall Street Mabon & Co., 1 Wall Street. Mackay & Co., 14 Wall Street. MacQuoid & Coady.120 Broadway Mallory, Pynchon & Eisemann, 120 Broadway Maloney & Co., Peter J., 50 Broadway Manson & Co. .Thos L., 120 Broadway Marks (Laurence M.) & Co., 49 Wall St. Marquis & Co., L. J., 39 Broadway Marshall, Campbell & Company, 61 Broadway. Maurer & Co., 11 Broadway Mayer & Company, Jos. G., 74 Trinity Place. Maynard, Oakley & Lawrence, 24 Broad Street McCaffray & Co., Walter P., 25 Broad Street McCarthy & Vose, 52 Broadway ___ _______ Further Information on firms appearing in bo https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis McClave & Co., 67 Exchange Place. McClure, Jones & Co., 115 Broadway. McConnell & Co., H. F„ 60 Wall Tower McDermott & Co., Peter P., 39 Broadway. McDonnell & Co., 120 Broadway. McGough & Schuman, 1 Wall Street. McWilliam, Wainwright & Luce, 49 Wall Street. Meehan & Co., M. J., 30 Broad St. Melady & Co., John, 141 Broadway Miller & Dodge, 30 Broad Street Miller & McVickar, 50 Broadway Millett, Roe & Co., 120 Broadway. Minton & Co., D. M., Ill Broadway Mitchell & Watts .65 Broadway Monahan & Cohn, 120 Broadway Montgomery, Scott & Co., 120 Broadway. Moore & Co., D. T„ 50 Broad Street Moore, Leonard & Lynch, 111 Broadway. Moore & Schley, 100 Broadway. MORGAN & CO., J. P., 23 Wall Street. Slaughter, A. O., Anderson & Fox, 120 Wall Street. Smith & Co., Edward B., 15 Broad St. Smith, Frank & Co., 120 Broadway Smith & Gallatin, 115 Broadway. Smith, Graham & Rockwell, 50 Broadway. SMITHERS & CO., F. S., 15 Broad Street. Sneckner & Heath, 20 Broad Street. Spaulaing, Tucker & Co., 1 Wall St. Sparks, J. W. & Co., 50 Broadway. Spear & Leeds, 120 Broadway Spero & Co., 50 Broad Street. SPEYER & CO., 24-26 Pine Street. Spingarn & Co., Leopold, 29 Broadway. Springs & Co., 60 Beaver Street. Stackpole & Buchanan, 120 Broadway. Stafford & Co., 20 Exchange Place. Stanton & Co., 52 Wall Street. Morgan, Howland & Company, 120 Broadway. Morrill, Clarke & Rich, 65 Broadway. Morris & Co., 120 Broadway. Morris & Smith, 120 Broadway STEIN BROS. & BOYCE, 120 Broadway. MOSELEY & CO., F. S., 39 Broadway. STERN, KEMPNER & CO., 14 Wall St. Moss, Ferguson & Kerngood, 60 Broadway. Muir & Co., John .39 Broadway. Munds, Winslow & Potter, 40 Wall Street Munn & Norris, 49 Wall Street. Murfey, Blossom & Co., 120 Broadway. Murphey, C. H. & Co., 25 Broadway. Murphy, G. M.-P. & Co., 52 Broadway Myles & Keating, 61 Broadway Nash & Co., Ill Broadw'ay. Neilson & O’Sullivan, 20 Broad Street. Neuhut, Mansbach & Plohn, 60 Broad Street Newborg & Co., 60 Broadway. Newburger, Loeb & Co., 40 Wall Street. Newman Bros. & Worms, 25 Broad Street. Nick (J. F.) & Co., 25 Broad St. Noel, Berman & Langley, 54 Wall St. Oliphant & Co., Jas. ri., 61 Broadway. O’Neill & Co., Grover, 20 Exchange Place Orvis Brothers & Co., 60 Broadway. Orvis & Co., Schuyler A., 120 Broadway Paige, Smith & Remick, 39 Broadway. Paine, Webber & Co., 25 Broad Street. Parker, McElroy & Company, 120 Broadway. Parrish & Co., 40 Wall Street. Pask & Walbrldge, 1 Wall Street. Pearl & Co., 120 Broadway. Pell & Co., 60 Broadway Pell, Peake & Co., 24 Broad Street." Pelzer, B. H. & F. W., 42 Broadway. Pforzheimer & Co., Carl H., 25 Broad Street. Phelps & McKee, 120 Broadway. Stevens & Legg, 25 Broad Street. Stewart & Co., 61 Broadway. Stokes, Hoyt & Co., 1 Wall Street. Stout & Co., 25 Broad Street. Strauss, Phillips & Co., Ill Broadway Struthers & Dean, 40 Wall Street. Strays & Jones, 52 Broadway. Sulzbacher, Granger & Co., Ill Broadway. PIERCE & CO., E. A., 40 Wall Street. Popper, Snyder & Co., 39 Broadway Post & Flagg, 49 Broad Street. Pouch & Co., 1 Wall Street. Prentice & Slepack, 25 Broadway. PRESSPRICH & CO., R. W., 68 William Street. Prince & Company, Theodore, 120 Broadway. Proctor, Cook & Co., 120 Broadway. Pyne, Kendall & Hollister, 60 Wall Street. Quincey & Co., Chas. E., 24 Broad Street. Redmond & Co., 48 Wall Street. Reiner & Co., Milton E., 74 Trinity Place. Reynolds & Co., 120 Broadway. Reynolds, Fish & Co., 120 Broadway. Rhoades, Williams & Co., 25 Broad Street. Rich & Clark, 15 William Street. Richard, C. B. & Co., 44 Beaver Street. Richards, Hume & Heifernan, 49 Wall Street Ristine & Co., F. P., 15 Broad Street. Riter & Co., 38 Nassau Street Rollins & Co., 52 Broadway. Rose, Cammann & Co., 120 Broadway. Roth & Co., B. H., 25 Broad Street. Roth (Emil J.) & Co., 29 Broadway. Rothschild & Co., L. F„ 120 Broadway. Russell, Miller & Company, 11 Wall Street. RUTTER & COMPANY, 20 Exchange Place. SALOMON BROS. & HUTZLER, 60 Wall St. Salomon & Co., F. L„ 50 Broadway. Sands, de Rham & Co., 115 Broadway Sartorius & Smith, 61 Broadway. Scarborough, Ambrose & Co., Ill Broadway Scarritt & Bardach, 120 Broadway Schafer Bros., 1 Wall Street. Schatzkin & Co., 60 Broad Street. Scholle Brothers, 40 Wall St. Seasongood & Haas, 63 Wall Street. SELIGMAN & CO., J. & W„ 54 Wall Street. Sellgman, G. & A., 120 Broadway. Seligsberg & Co., 50 Broad Street. Shaskan, E. F. & G., 39 Broadway. Shea & McMannus, 67 Exchange Place. Shearson, Hammill & Co., 14 Wall St. Shields & Company, 44 Wall Street. Shippee & Rawson, 111 Broadway. Shuman & Co., 25 Broad Street. Silberberg, D. H. & Company, 63 Wall Street. Simmons & Co., E. H. H., 52 Broadway. Simmons & Peckham, 40 Wall St. Simons, Blauner & Co., 25 Broadway. Sisto & Co., J. A., 68 Wall Street. face type will be found in the selected list of In Steiner, Rouse & Company, 25 Broad Street. Stern & Co., Allison, 1 Wall Street. SUTRO BROS., & CO., 120 Broadway. Sutro & Co., 44 Wall Street. Sydeman Bros., 30 Pine St. Tailer & Robinson, 39 Broadway. Talcott, Potter & Co., 25 Broad Street. Tameling, Lehmann & Co., 2 Broadway. Tate & Hays, 71 Broadway Taylor & Delany, 50 Broadway Taylor, Bates & Co., 48 Wall Street Taylor & Co., W. R. K„ 49 Wall Street. Tefft & Company, 24 Broad Street Thomas, Torrey & Griffith, 11 Broadway. Thomson & McKinnon, 11 Wall Street Thorne (F. B.) & Co., 120 Broadway. TIMMINS & COMPANY, J. R., 61 Broadway. Tobey & Co., 25 Broadway. Tobey & Kirk, 25 Broad Street Toerge & Schiffer, 15 Broad Street Toolin & Co., 39 Broadway Townsend, Graff & Co., 29 Broadway Trask & Co., Spencer, 25 Broad Street. Travers & Clark, 11 Wall Street TROUNSTINE & CO., J. F., 50 Broadway. Tucker, Anthony & Co., 120 Broadway Turnure & Co., Lawrence, 64 Wall Street. Vaughan & Company, 50 Broadway Vilas & Hickey, 49 Wall Street Wade Bros. & Co., 61 Broadway. Wadsworth & Wright, 1 Wall Street Wagner, Stott & Co., 19 Rector Street Wainwright & Co., H. C„ 44 Wall Street Walker Brothers, 71 Broadway Walker & Co., G. H„ 1 Wall Street Walker & Sons, Joseph, 61 Broadway Wallace & Co., J. K., 149 Broadway Wallace & Co., Lew, 1 Wall Street Waller & Co., 61 Broadway Ward, Graver & Company, 30 Broad Street Ware & Keelips, 11 Wall Street Warner & Co., 120 Broadway Watson, Armstrong & Co., 24 Broad Street Watson & Co., T. L., 40 Wall Street WATSON & WHITE, 149 Broadway Weicker & Co., 1 Wall Street Weingarten & Co., 29 Broadway. Weisl & Co., Edwin, 70 Pine Street Welles. C. E. & Co., 39 Broadway. WELLINGTON & CO., 120 Broadway WERTHEIM & CO., 120 Broadway Whitehouse & Co., Ill Broadway White & Stanley, 40 Wall Street White, Weld & Co., 40 Wall Street Whitney & Sons, H. N., 49 Wall Street Whitney & Co., Richard, 15 Broad Street Wilcox & Co., 40 Wall Street Willard & Co., F. A., 40 Wall Street Williams & Co., Clark, 160 Broadway Williston & Co., J. R., 11 Wall Street Winthrop, Robert & Co., 48 Wall Street WINTHROP, MITCHELL & CO., 26 Broadway Wollman & Co., W. J., 120 Broadway Wood, Low & Company, 63 Wall Street Wood, Struthers & Co., 20 Pine Street Worrall & Co., 30 Pine Street Wrenn Bros. & Co., 30 Broad Street Wright & Sexton, 1 Wall Street Young, Kolbe & Co., 120 Broadway Zeltner & Company, C. F., 61 Broadway Zuckerman, Henry & Co., 52 Broadway rnent Dealers following bank list in each city. • LOCAL STOCK EXCHANGE FIRMS 1675 NEW YORK—Continued New York Stock Exchange Officers: Richard Whitney, Pres. Warren B. Nash, Tr. John P. Ryan, Asst, to the Pres. J. M. B. Hoxsey, Executive Asst, to the Committee on Stock List Allen L. Lindley, V. P. Edward T. H. Talmage, Jr., A. Tr. Ashbel Green, Sec. Francis T. Boyd, 1st Asst. Sec. COMMISSION RATES Rates to Non-members, etc. On business 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-Sbare-Unit Stocks) See also Called Securities below: Under 50c per share__ _______ __________ May be mutually agreed upon 50c 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 71^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 $75.00_____________ _________ ______ Not less tha-n 17>£c 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 Securities 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 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 6c 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 $1,000 of principal (except as stated below) See also Called Securities below: Selling at less than $10.00__________________________Not less than 75c Selling at $10.00 and above but under $100.00...........Not less than $1.25 Selling at $100.00 and above____________________ Not .less than $2.50j r\n __ _______ t-»: tvuii: r_i j_ On r\ Obligations of +the TT„U—« United States, Porto Rico, Philippine Islands, and States, Territories and Municipalities therein: Bonds and 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 authoritv the Committee has ruled that commissions shall be not less than the rates given below. On bonds or notes (per $1,000 of principal) having live years or less to run to maturity under $10________ Not less than 75c $10 and above but under $100____________________ Not less than $1.25 $100 and above but under $960 and above $1,100_____Not less than $2 50 $960 and above but not above $1,100______________ Not less than $1.25 CALLED SECURITIES On stocks which, pursuant to call or otherwise, are to be redeemed within twelve months--------------------------------------May be mutually agreed upon On bonds or notes (per $1,000 of principal) which pursuant to call or otherwise are to be redeemed, within twelve months____________ _____________Not less than $1.25 CHICAGO Abbott, Hoppin & Co., 208 S. La Salle St. Aldrich, F. C. & Co., 120 S. LaSalle St. Apgar, Daniels & Co., 120 S. LaSalle St. Gerwig, Frank L. & Co., 39 S. LaSalle St. Perrill, (Alger) & Co., 231 S. LaSalle St. HALLGARTEN & CO., 120 S. LaSalle St. PIERCE, E. A. & CO., 105 W. Adams St. BABCOCK, RUSHTON & CO., 135 S. LaSalle St. Harris, Burrows & Hicks, 208 S. La Salle St. Harris, Upham & Co., 135 S. La Salle St. BACHE, J. S. & CO., 316 S. LaSalle St. HORNBLOWER & WEEKS, 39 S. LaSalle St. BACON, WHIPPLE & CO., 135 S. LaSalle St. Baker. Alfred L. & Co.. Ill S. LaSalle St. Barney & Co., Chas. D„ 135 S. La Salle St. Bennett, James E. & Co., 332 S. LaSalle St. Blumenthal & Ward, 120 S. LaSalle St. Boettcher-Newton & Co., 231 S. LaSalle St. Brown Brothers, Harriman & Co., 231 S. La Salle St. Cahn, Morton D., 120 S. LaSalle St. Chapin, S. B. & Co., 209 S. LaSalle St. Clark, Jno. F. & Co., 231 S. LaSalle St. CLARK, CHILDS & KEECH, 208 S. LaSalle Cleary & Co., 120 S. LaSalle St. Clement, Curtis & Co., 231 S. LaSalle St. DAVIS, PAUL H. & CO., 37 S. LaSalle St. Ditt, Paul C. & Co., 120 S. LaSalle St. Eastman, Dillon & Co., 104 S. LaSalle St. Ettinger & Brand, 105 W. Adams St. Fairman, Perry & Co., 208 S. LaSalle St. Faroll Bros., 141 W. Jackson Blvd. Fenner & Beane, 141 W. Jackson Blvd. FIELD, GLOBE & CO., 123 S. LaSalle St. Fisher (Tories) & Co., 105 S. LaSalle St. Frank, A. R. & Co., 120 S. LaSalle St. Fuller, Cruttenden & Co., 120 S. LaSalle St. Hulburd, Warren & Chandler, 208 S. LaSalle St. (Wayne) Hummer & Co., 105 W. Adams St. JACKSON BROS., BOESEL & CO., 316 S. LaSalle St. Jackson & Curtis, 231 S. LaSalle St. LAMBORN, HUTCHINGS & CO., 231 S. LaSalle St. LAMSON BROS. & CO., 141 W. Jackson Blvd. Lester. Carter & Co., 209 S. LaSalle St. Lizars (Rawson) & Co., 231 S. LaSalle St. McDonald, Frank E. & Co., 120 S. LaSalle St. Mills, W. S. & Co., 120 S. LaSalle St. Reinhardt, Daly & Co., 208 S. La Salle St. Rodger, Arthur L. & Co., 39 S. La Salle St. Rothschild & Co., 105 W. Adams St. Russell, Brewster & Co., 135 S. LaSalle St. Sadler & Co., 105 S. LaSalle St. Schuberth, Wm. A. & Co., 120 S. LaSalle St. Shearson, Hammill & Co., 208 S. LaSalle St. Shields & Company, 105 W. Adams St. Shimmin, Robert P. & Co., 120 S. LaSalle St. Sincere, Charles & Co., 231 S. LaSalle St. Slaughter, A. 0., Anderson & Fox, 120 S. LaSalle St. Smart, R. H. & Co., 141 W. Jackson Blvd. Smith Bros & Co., 105 S. LaSalle St. Smith, Graham & Rockwell, 141 W. Jackson Blvd. Stein, Brennan & Co., 211-219 S. LaSalle St. Stoddard & Boyden, 120 S. LaSalle St. SUTRO BROS. & CO., 134 S. LaSalle St. MITCHELL, HUTCHINS & CO., 231 S. LaSalle St. Swift, Langill & Henke, 168 W. Monroe St. Morrill, Clarke & Rich, 135 S. La Salle St. Templeton’s Sons, J. S., 141 W. Jackson Blvd. Thomson & McKinnon, 316 S. LaSalle St. Trask (Spencer) & Co., 208 S. LaSalle St. Webster, Marsh & Co., 209 S. LaSalle St. Weinress, (Morton) & Co., 231 S. LaSalle St. White, Edward J. & Co., 120 S. LaSalle St. MOSELEY, F. S. & CO., 135 S. LaSalle St. Munds, Winslow & Potter, 141 W. Jackson Blvd. Norris & Kenly, 208 S. LaSalle St. Noyes, David A. & Co., 208 S. LaSalle St. • OLIPHANT, JAS. H. & CO., 209 S. LaSalle St. Paine, Webber & Co., 209 S. LaSalle St. Patton, Joseph R. & Co., 120 S. LaSalle St. WINTHROP, MITCHELL & CO., 141 W. Jackson Blvd. ZEILER, F. M. & CO., 209 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 eacb city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LOCAL STOCK EXCHANGE FIRMS 1676 CHICAGO—Continued Chicago Stock Exchange Officers: M. J. O’Brien, Pres. Harvey T. Hill, Exec. V. P. Paul B. Skinner, Tr. Martin E. Nelson, A. Tr. Wallace C. Winter, V. P. Jess Halsted, Sec. Charles T. Atkinson, Sec. Emeritus Kenneth L. Smith, A. Sec. Sidney L. Parry, A. Sec. BATES OF COMMISSION Commissions: Section 1. Commissions shall be charged and paid under all circum stances, upon all purchases or sales of securities dealt in upon the Exchange (except as provided in Subdivision [h], Section 2 of this Article) and shall be absolutely net and free from all or any rebatement, return, discount or allowance in any shape or manner whatsoever, or by any method or arrange ment direct or indirect; and no bonus or any percentage or portion of the commission shall be given, paid or allowed, directly or indirectly, or as a salary or portion of a salary, to any clerk or person for business sought or procured for any member of the Exchange. Sec. 2. Commissions shall be calculated on the basis hereinafter specified: (a) On railroad, public utility and industrial bonds, having more than five years to run: *(al) On business for parties not members of the Exchange, including joint account transactions in which a nonmember is interested; transactions for partners not members of the Exchange; and for firms of which the 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. Selling at 1 per cent or above but under 10 per cent of face value of , , , principal— Not less than $1.25 per $1,000 face value of principal. Selling at 10 per cent of face value of principal and above— Not less than $2.50 per $1,000 face value of principal. *(a2) On business for members of the Exchange when a principal Is given up, 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. Selling at 1 per cent or above but under 10 per cent of face value of principal— .... Not less than 37J^c per $1,000 face value of principal. Selling at 10 per cent of face value of principal and above— Not less than 75c per $1,000 face value of principal. *(a3) On business for members of the Exchange when a principal is not given up, 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. Selling at 1 per cent or above but under 10 per cent of face value or principal— , , . , , Not less than 62Mc per $1,000 face value of principal. Selling at 10 per cent of face value of principal and above. Not less than $1.25 per $1,000 face value of principal. (b) On securities of the United States, Porto Rico and the Philippine Islands, and of states, territories and municipalities therein, on business for members of the Exchange as well as nonmembers, the restrictions as to minimum commissions contained in this article shall not be applicable, but the rates to be charged shall be such as may be mutually agreed upon. (c) On Stocks: (cl) On business for parties not members of the Exchange, including joint account transactions in which a non-member is interested; transac tions for partners not members of the Exchange; and for firms of which the Exchange member or members are special partners only, the commission shall be not less than the following: On stocks selling below $10 per share, but not less than $1 per share, 7Mc per share. , , On stocks selling at $10 per share and above, but under $25 per share, 12Mc per share. , , , „„ , On stocks selling at $25 per share and above, but under $50 per share, 15c per share. , , mrT_ On stock selling at $50 per share and above, but under $75 per share, 17Mc per share. , , . . On stocks selling at $75 per share and above, but under $100 per share, 20c per share. , „„„„ , On stocks selling at $100 per share and above, but under $200 per share, 25c per share. On stocks selling at $200 per share and over, 25c per share for the first $200 in price and 5c per share additional for each $50 increase in price, or fraction thereof. The minimum commission on an individual transaction in stock shall be not less than as provided in subdivision (h) of Section 2, and Section 3 of this Article. (c2) On business for members of the Exchange when a principal is given up, the commission shall be not less than the following: On stocks selling below $10 per share but not less than $1 per share, lWc per share. , __ „ On stocks selling at $10 per share and above, but under $125 per share, 2}4c per share. , J „ . , ., . On stocks selling at $125 per share and over, 3c per share, except that the minimum commission shall be not less than as provided in Section 3 of this Article. (c3) On business for members of the Exchange when a principal is not sjiven up, the commission shall be not less than the following: On stocks selling below $10 per share but not less than $1 per share, 1 il stocks^elling at $10 per share and above, but under $125 per share, 3Me per share. On stocks selling at $125 per share and over, 5c per share, provided, however, that the minimum commissions on individual transactions shall be not less than as provided in Section 3 of this Article. (d) In transactions where orders are received from a non-member, where in the broker filling the order is directed to give up another broker or clearing house, the responsibility of collecting the full commission, as specified in Subdivisions (al), (b) and (cl), hereof, shall rest with the broker or clearing house settling the transaction. (e) In transactions where orders are received from a member, on which the clearing firm is given up by said member or by his order, the responsibility of collecting the full commission, as specified in Subdivisions (a3), (b) and (c3), hereof, shall rest with said clearing firm; and it shall be the duty of the broker who executes such orders to report such transactions to the clearing firm and render to them and collect his bill thdrefor at the rate specified in 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 rates specified in Subdivisions (a3), (b) and (c3), hereof. (f) Whenever a nonmember of this Exchange shall cause to be executed In any market outside of the United States any order or orders, for the purchase or sale of securities listed on this Exchange, (except as provided in Subdivision [h] hereof), and said purchase or sale shall be accepted by a memoer or firm who are members of this Exchange, for the account of said non-members, the commission as specified in Subdivisions (al), (b) and (cl), hereof, shall be charged said nonmember in addition to any commission charged by the party or parties making the transaction. (g) When securities are received or delivered on a privilege for a nonmember, the commission as specified in Subdivisions (al), (b) and (cl), hereof, must be charged whether said securities are received or delivered upon the day of expiration of said privilege or prior thereto. (h) On Subscription Rights, Stocks selling for less than $1 per share; 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 non-members 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. (i) When a member merely receives and delivers securities for another member, the clearing charge for said service may be a matter of mutual agreement, and the restrictions as to minimum commissions contained in this Article shall not be applicable. Such clearing cnarges shall be based upon a stipulated sum of money for each one hundred snares of stock or one thousand dollars of bonds received or delivered. The payment for said service of a certain sum of money for any period of time, irrespective of the number of shares or amount of bonds cleared, is forbidden. Sec. 3. The minimum commission on transactions in stocks for non members (except in stocks selling for less than $1.00 per share) shall (a) Where the transaction involves $200.00 or more, be not less than $5.00; (b) Where the transaction involves less than $200.00 but $15.00 or more, be not less than $3.00; and (c) Where the transaction involves less than $15.00, be as may be mutually agreed upon. Upon transactions between members, the minimum commission shall be $1.00 upon stocks selling at $10.00 and above per share, and 50c upon stocks selling below $10.00 per share but not less than $1.00 per share; Provided, that where any transaction involves less than $15.00, the com mission to be charged may be mutually agreed upon, and Provided Further, that there shall be no minimum commission fixed upon transactions in odd lots executed by members for and on behalf of odd lot dealers who have been approved as such by the Exchange, but the commissions to be charged to odd lot dealers upon the execution of transactions in odd lots shall be calculated in accordance with Section 2 of this Article, without any minimum. Sec. 4. Members suspended by the Governing Committee shall not, during the time of suspension, be entitled to have their business transacted at member rates. A member who is in suspension by reason of insolvency, may have his business transacted at members’ rates. Sec. 5. No agreement or arrangement shall be entered into between a member of his firm, and his or their customer, whereby special and unusual rates of interest are stipulated for, or money advances upon unusual terms are made a condition in connection with the conducting of an account, with intent thereby to give special or unusual advantages to such customer for the purpose of securing his business. Sec. 6. No payment shall be made to customers of the proceeds from the sale of securities on the day of the sale and before the money is received by the broker, unless interest is charged. When securities purchased for a customer are not paid for by him on the day they are received and paid 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 through bank exchange charges or interest, the same must be charged to the customer. Sec. 7. Any member violating this Article, directly or indirectly, of which the Governing Committee shall be the judge, shall, upon conviction, for the first offense, be fined five hundred dollars, and shall be suspended for a period of not less than three months; and for the second offense shall be expelled, and his membership disposed of by the Committee on Admis sions. COMMISSIONS ON BIGHTS AND STOCK Reference is made to the By-Laws, Article XVI, Section 2, paragraph (h). The Committee on Commissions, with the approval of the Governing Committee, hereby rules that until further notice the commissions on sub scription rights accruing on one share of stock and upon stock selling for less than $1.00 per share shall be not less than the following: Under 50c per right or share of stock: May be mutually agreed upon. 50c per right or share of stock, but under $1.00: To non-members, not less than 3c; minimum 50c. To members, give-ups, not less than y2z. To members, clearance, not less than Me. $1.00 per right and above, but under $5.00: To non-members, not less than 5c; minimum $1.00. To members, give-ups, not less than Me. To members, clearance, not less than 1 $5.00 per right and above, but under $10.00: To non-members, not less than 7Mc; minimum $1.00. To members, give-ups, not less than lMc. To members, clearance, not less than iMc. $10.00 per right and above: , , , . . The rates shall conform to the rates on stocks of the same price; provided that the minimum on one transaction to non-members shall be $2.00. The above rates to be effective as of December 30, 1930, and to continue in force until further notice. Compensation: The payment of any commission or bonus for the adjustment of salaries Is held a violation of Article XVI, Section 1 of the By-Laws. Any plans for additional or adjusting compensation should be submitted to the Committee on Commissions for its approval. Discretionary Accounts: Customers’ men and all other employees are prohibited from handling discretionary accounts. Discretionary power in the handling of an account may be vested only in partners. A partner may delegate such discretionary power to a customers’ man to a reasonable extent, provided the consent of the customer in writing is first obtained. Such delegation of discretionary power by a partner to a customers’ man does not relieve the partner of responsibility for improper transactions. 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 LOCAL STOCK EXCHANGE FIRMS 1677 PHILADELPHIA BACHE, J. S., & CO., Pennsylvania Bldg. Baker, Weeks & Harden, Commercial Trust Bldg. 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. Belzer & Co., Land Title Bldg. Biddle & Co., Moncure, 1520 Locust Street. Biddle, Whelen & Co., 1606 Walnut St. BIOREN & CO., 1508 Walnut Street. Boenning & Co., 1606 Walnut Street. BROWN BROTHERS HARRIMAN & CO., 1531 Walnut Street. Buckley Brothers, 1528 Walnut St. Bryan, Penington & Colket, 123 S. Broad St. Butcher & Sherrerd, 220 Real Estate Trust Bldg. Carstairs & Co., 1510 Walnut Street. Cassatt & Co., Commercial Trust Bldg. Clark, E. W., & Co., 16th and Locust St. Dackerman & Waber, 517 Stock Exchange Bldg. DeHaven & Townsend, 1415 Walnut Street. Diffenderffer & Co., 1611 Walnut Street. Dixon & Co., 1411 Chestnut Street. DREXEL & CO., 15th and Walnut Streets. Eastman, Dillon & Co., 1506 Walnut St. Elkins, Morris & Co., 305 Land Title Bldg. Emory, Freed & Co., 109 S. 3rd Street. 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. Glendinning, Robt., & Co., Packard Bldg. Goodbody & Co., 1424 Walnut Street. Graham, Parsons & Co., 1422 Walnut St. Greene & Co., 612 Phila. Stock Exchange Bldg. Ilammitt & Co., 602 Phila. Stock Exchange Bldg. Hamstrom & Co., 202 Real Estate Trust Bldg. Harrison & Co., 123 S. Broad Street. Hecker & Co., S. W. Cor. 6th and Chestnut Sts. Hopper, Soliday & Co., 1420 Walnut St. HORNBLOWER & WEEKS, 1429 Walnut St. Jenks, Gwynne & Co., 1516 Locust Street. Jones, Miller & Co., Commercial Trust Bldg. Kennedy & Co., 1200-01 Land Title Bldg. Laird, Bissell & Meeds, 1528 Walnut Street. LILLET, & CO., 1520 Packard Bldg. MacDonald & Co., 234 Real Estate Trust Bldg. MacMeekin & Co., 123 S. Broad Street. McCreery, Samuel, & Co., 1518 Walnut Street. McLaughlin W. J. & Co., 508 Stock Exchange Bldg. Monges, Davis & Lang, 314 Otis Bldg. Montgomery, Scott & Co., 123 S. Broad Street. Moore, E. J., & Co., 141 South Fourth Street. Morgan, Reed A., & Co., Commercial Trust Bldg. Moyer & Co., 1500 Walnut Street. Newbold’s Son, W. H., & Co., 1517 Locust Street. Newburger, Loeb & Co., 1423-25 Walnut Street. Nick, J. F. & Co., 1516 Locust St. Page, R. Y. & Co., Burlington, N. J. Palmer & Co., E. W., 334 Commercial Trust Bldg. Parrish & Co., 212 South 15th Street. Phillips, Samuel K., & Co., 1317 Packard Bldg. Richards & Co., Real Estate Trust Bldg. Ristine, F. P., & Co., 123 S. Broad Street. Sailer, A. J. & Co., 113 S. 5th Street. Seeler & Co., 110 S. 3rd Street. Sloane & Co., Phila. Stock Exchange Bldg. Smith, Edward B., & Co., 1411 Chestnut Street. Snyder, Geo. E., & Co., 600-601 Phila. Stock Ex change Bldg. Snyder, R. M. & Co., 1520 Locust Street. Sparks, J. W., & Co., 1510 Chestnut Street. Starr & Co., 123 S. Broad Street. Swab, H. M. & Son, Bourse Bldg. Trimble & Co., 1326 Walnut Street. Turner, Gill & Crouter, 611 Packard Bldg. Wheeler & Co., 1100 Girard Trust Bldg. Wilmer & Co., 123 S. Broad St. Wistar, Carter & Co., Commercial Trust Bldg. Wolf Bros. & Co., 213-215 S. Broad Street. WOOD, A, C., JR., & CO., 511 Chestnut St. Wurts, C. S. & Co., 1327 Walnut Street. Wurts, Dulles & Co., Philadelphia Bank Bldg. Wyckoff & Co., Edward G., 1528 Walnut Street. Yarnall & Co., 1528 Walnut Street. STOCKS Price Rate Per Share Selling under 50c.............................................................. As mutually agreed Selling 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 7^c Selling at $10.00 and above, but under $25.00_______ Not less than 12J^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 17J4c 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. Philadelphia Stock Exchange Officers: Frank L. Newburger, Pres. Howard Butcher, Jr., V. P. Frank C. Matthews, Sec. Frederick P. Ristine, TV. John R. Huhn, Jr., A. Sec. and A. Tr. Thomas B. Gravatt, And. COMMISSION RATES BONDS 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 STOCK SUBSCRIPTION RIGHTS Rate Per Right Selling under 50c......... ........... ..........................................As mutually agreed Selling at 50c and above, but under $1.00_____________ Not less than 3c Selling at $1.00 and above, but under $5.00___________ Not less than 5c Selling at $5.00 and above, but under $10.00_________Not less than 7J^c Selling at $10.00 and above..,....................... ................... Not less than 15c The minimum commission on any transaction for nonmembers shall be $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. DETROIT Alison & Co., 244 Buhl Bldg. BACHE, J. S. & CO., 119 Penobscot Bldg. Baker, Simonds & Co., 1134 Buhl Bldg. Bennett, Smith & Co., 640 Griswold Street. Brown, John L. & Co., 625 Penobscot Bldg. Butler & Co., J. M„ 224 Penobscot Bldg. Collin & Co., Frederick, 1442 Griswold Street. Crouse & Co., 1817 Penobscot Bldg. Cullen, Ferriss & Colquhoun, 884 Penobscot Bldg. DOMINICK & DOMINICK, 314 Ford Bldg. Fenner & Beane, 639 Penobscot Bldg. Ferriss, Wagner & Miller, 1444 Buhl Bldg. Harris, Small & Co., 1400 Penobscot Bldg. Detroit Stock Exchange Officers: Charles B. Crouse, Pres. S. R. Livingstone, Vice-Pres. Clark J. W. Colby, Sec. Hay, Ivan C. & Co., 415 Ford Bldg. Hentz, H. & Co., 1 Buhl Bldg. Hopper, B. E. & Co., 331 Penobscot Bldg. Paine, Webber & Co., 100 Penobscot Bldg. PARCELLS, CHARLES A. & CO., 539 Penob. scot Bldg. HORNBLOWER & WEEKS, 244 Penobscot Bldg. PIERCE, E. A. & CO., 1 Ford Bldg. Hutton, W. E. & Co., Fisher Bldg. Jennings & Busby, 500 Fidelity Bank & Tr. Bldg. King Boug Stodgell & Co., Windsor, Ont. Livingstone, Dennis & Renfrew, 409 Griswold St. McLean & Co., John F„ 1806 Penobscot Bldg. Moody, Bollinger & Co., 1904 Penobscot Bldg. Moss, W. E. & Co., 2316 Union Guardian Bldg. Newcomb, John J. & Co., 2006 Penobscot Bldg. O’Donnell, Humphries & Fuehrer, 517 Penobscot Bldg. Rathbun & Co., 2656 Penobscot Bldg. Reilly, W. E. & Co., 1446 Penobscot Bldg. Roney, Wm. C. & Co., 2232 Union Guardian Bldg. Rose, Wm. H. & Co., 966 Penobscot Bldg. Schlachman, Max & Co., 866 Penobscot Bldg. Shader, Winckler Co., 204 Penobscot Bldg. Stanton, F. W„ 1700 Fisher Bldg. Walker, William T. & Co., 1304 Penobscot Bldg. Watling, Lerchen & Hayes, 344 Buhl Bldg. Wedthoff, Guy G. & Co., 484 Penobscot Bldg. Whitlock, Smith & Co., 1446 Penobscot Bldg. Woodruff, D. M. & Co., 1546 Penobscot Bldg. Clark C. Wickey, Assf. to Pres. George A. Miller, Tr. COMMISSION RATES 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 3c 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 12J^c 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 17J^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. 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 1678 LOCAL STOCK EXCHANGE FIRMS LOS ANGELES Adams, Thomas E. & Co., 650 S. Spring St. Akin-Lambert Co., Room 401, 639 So. Spring St. Bacon & Co., Rm. 924, 485 California St. Bankamerica Co., 650 South Spring St. BANKS, HUNTLEY & CO., 634 South Spring Barnes, Lester & Co., Rm. 700, 621 So. Spring St. Bayly Brothers, Inc. of California, 727 West 7th St. Bissinger, Frederick M. & Co., 634 So. Spring St. Brashears, G. & Co., 510 So. Spring St. Conrad, Bruce & Co., Room 501, 629 So. Spring St. CAVALIEK, WM. & CO., Ground Floor Lobby, 523 W. 6th St. Citizens Los Angeles Co., 453 So. Spring St. Crisler, L. A. & Co., Room 702, 639 So. Spring St. Crowell, Weedon & Co., Room 1103, 650 So. Spring St. Dickinson, R. B., 427 Union Dr. Dobbs, Wagenseller & Durst, Room 200, 626 So. Spring St. Dunk-Harbison Co., 634 S. Spring St. Ellis, S. H., Inc., Room 1119, 639 So. Spring St. Fastnow, William C., Rm. 711, 217 W. 7th St. Friedlander & Speth, Inc., Room 607, 650 So. Spring St. GRANT, D. G. COMPANY, Room 415, 453 So. Spring St. Grant, Merrick & Co., Rm. 424, 650 S. Spring St. Graves, Banning & Co., Room 600, 629 So. Spring St. Gregory, R. N. & Co., 210 W. 7th St. Hay, Earl G., Room 926, 650 So. Spring St. Hill, Reed & Co., Rm. 805, 621 S. Spring St. Hutton, E. F. & Co., 623 South Spring St. Jameson, A. L. & Co., 650 South Spring St. Kerr, J. D. & Co., 621 South Spring St. Laswell & Co., Room 215, 609 So. Grand Ave. Lewis, M. H. & Co., Room 420, 453 So. Spring St. Leib, Keyston & Co., 50 Post St., San Francisco, Calif. Longan, Dunn & Co., 621 S. Spring St. Los Angeles Investment Securities Co., 1033 So. Broadway. MacLaughlin, Leo. G., Co., 54 S. Los Robles Ave., Pasadena, Calif. Martin, James R. & Co., 647 South Spring St. Miller, Clyde E., 1262 Third Avenue Miller, Revel & Co., Room 510, 650 So. Spring St. Mitehum, Tully & Jones, 650 S. Spring St. Morris, A. W„ Room 1002, 325 W. 8th St. Pacific Company of California, 621 South Hope St. Paul, W. G., 618 South Spring St. Rath, Howard G. Co., Ground Floor, 523 W. 6th St. Robinson, B. B. Rm. 1316, 639 So. Spring St. Ruddock, A. B., 650 So. Grand Ave. Searl-Merrick Co., Room 810, 634 So. Spring St. SECURITY-FIRST CO., 215 W. 6th St. STAATS, WM. R. CO., 640 South Spring St. Sutro & Company, Room 300, 210 W. 7th. Tucker, Reagan Co., Rm. 814, 110 Pine St., Long Beach, Calif. Tulk & Co., Room 1007, 219 W. 7th St. Walker, M. S. & Co., 125 E. 1st St., Long Beach, Calif. Welch, Brian K., 623 So. Hope St. Wilke, Fred L„ 530 W. Sixth St. Young-Clarke & Co., Room 212, 215 W. 7th St. I McClarty Harbison, Pres. Francis P. Graves, 1st V. P. | Norman A. Tulk, 2d V. P. Los Angeles Local Stock Exchange, Officers James R. Martin, Tr. W. G. Paul, Sec. MINIMUM RATES OF COMMISSION In Effect June 1, 1933 SCHEDULE “A” COMMISSION RULES: Minimum rates of commission EXCEPTING on stocks listed on the New York Stock Exchange and/or formally listed on the New York Curb Exchange. Per 100 Odd Lots On Stocks Selling Shares (per share) Minimum Under 25c. -.......................... $ .01% $2.00 25c and under 50c________ _$ 2.50 .05 2.50 50c and under $1.00______ . 3.00 2.50 7.% $ 1.00 and under $ 3.00. . 4.00 .12 % 2.50 $ 3.00 and under $ 5.00. . 7.50 .12% 2.50 j 5.00 and under $ 10.00. . 10.00 .12% 2.50 $ 10.00 and under $ 25.00. . 17.50 .25 2.50 $ 25.00 and under 8 50.00. . 20.00 .25 2.50 3 50.00 and under $ 75.00.. . 22.50 .25 2.50 $ 75.00 and under 8100.00. . 25.00 .25 2.50 $100.00 and under $125.00. . 30.00 .30 3.00 $125.00 and under $150.00. . 30.00 .30 3.00 $150.00 and under $200.00. . 30.00 .30 3.00 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. BONDS On Bonds selling at: Minimum $10.00 and above but under $100.00. _$1.75 per $1,000 par value $100.00 and up to $125.00_______ $22.50 per $10,000 par value Less than $10,000 lots_____________ $2.50 per $1,000 par value $2.50 $125.00 and over—100 share rates for stocks apply for $10,000 par value____________ _________ ______________________ Less than $10,000 par value.______ _________ _______ ______ Pro Rata When selling under $10.00 the commission shall be by mutual agreement. U. S. Government Bonds................. . *$1.25 per $1,000 par value *In lots of less than $1,000 par value minimum charge is optional. For the minimum commission on stocks listed on the New York Stock Exchange and/or formally listed on the New York Curb Exchange, and such stocks traded on the unlisted division of the New York Curb Exchange as are specifically approved by the Board of Governors, see Schedules “B” and “C.” * All stocks traded on the unlisted section of the New York Curb Exchange take the rates under Schedule “A” as above, excepting such stocks as are approved by the Board of Governors. On all transactions where the total amount of money involved is $10.00 or less, the commission charge shall be optional and where the total amount of money involved is in excess of $10.00 but less than $50.00 the commis sion charge shall be discretionary with a member subject to a minimum charge of $2.50 for each transaction. 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 charge 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: Special rates are allowed on Stocks listed on both New York and Los Anoeles Exchanges. These rates may be had on application to the Los Angeles Stock Exchange. CLEVELAND Borton & Co., 810 Hanna Bldg. Clark & Company, 981 Union Trust Bldg. Curtiss, House & Co., 1201 Union Trust Bldg. Ettinger & Brand, 201 National City Bldg. Fenner & Beane, Leader Bldg. Gillis, Wood & Co., 1838 Union Trust Bldg. Will S. Halle & Co., 511 Swetland 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. Livingston & Co., 1289 Union Trust Bldg. Maynard H. Murch & Co., 1186 Union Trust Bldg. Merrill, Hawley & Co., 1483 Union Trust Bldg. Murfey, Blossom & Co., 901 Guardian Bldg. Otis & Co., 216 Superior Ave. Paine, Webber & Co., 1111 Terminal Tower Bldg. $1 but under $10 $ 10 but under $ 25 25 but under 50 50 but under 125 125 but under 300 300 but under 500 500 and over Cleveland Stock Exchange Officers: J. P. Drach, Pres. Fred H. Emery, Tr. P. W. Brown, V. P. C. B. Whitcomb, Sec. SCHEDULE OF COMMISSION RATES Prices Stocks Selling under $1 Commission per Share 3c E. A. Pierce & Co., 215 Cuyahoga Bldg. PULLIAM, EMERY & CO., 1205 Swetland Bldg. Schultz & Co., L. J., 736 Union Tr. Bldg. David G. Skall & Co., 2031 Union Trust Bldg. W. S. Snyder & Co., 2027 Union Trust Bldg. Wellsted, Macklin & Co., 1280 Union Trust Bldg. Witt, John P. & Co., 1338 Union Trust Bldg. Minimum commission $1.00 7% c 15c 25c 30c 50c 75c Minimum commission $2.00 $1.00 Commission on bonds, $2.50 per $1,000, except on bonds with two years or less to maturity—$1.25 per $1,000.00. In regard to stocks listed on both the Cleveland and New York Stock Exchanges, the rate of commission of the respective exchanges whichever is lowest shall apply on sales of such stocks on the Cleveland Exchange. 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 1679 LOCAL STOCK EXCHANGE FIRMS ST. LOUIS Aid & Company, Security Bldg. Barklage, Louis, 317 N. 4th Street. Bauer Bros. Brokerage Co., 312 North 4th Street. Bennett, Jas. E. & Co., 705 Olive Street. Brown, Paul & Company, Paul Brown Bldg. Daly & Craib, Bank of Commerce Bldg. D’Oench, Duhme & Co., Franklin-Am.Tr.Bldg. EDWARDS, A. G. & SONS, 409 North 8th St. FRANCIS BROS. & CO., 4th & Olive Streets. Friedman & Co., Wm. Stix, 513 Olive Street. Gatch Bros., Jordan & McKinney, 411 Olive St. Gessler, E. A. & Son, Merchants-Laclede Bldg. Hawes & Company, Landreth Bldg. Hill Bros. & Company, Security Bldg. SIMON, I. M. & COMPANY, 315 North 4th St. JONES, EDW. D.&CO., Boatmen’s Bank Bldg. STIFEL, NICOLAUS & CO., Boatmen’s Bank Bldg. Stix & Company, LaSalle Bldg. Taussig, Day & Co., Boatmen’s Bank Bldg. Timmerman, F. C., & Co., Cotton Belt Bldg. Wade, Festus J. & Co., Columbia Bldg. Knight & Co., Harry H., 401 Olive St. LITTLE & HAYS INY. CO., LaSalle Bldg. Louderman, W. M., Bank of Commerce Bldg. Rassieur, Sweeney & Co., 506 Olive Street. Reinholdt & Gardner, Security Building. H. L. Ruppert & Co., 402 Pine Street. Seddon, Morfit, & Harvey, Inc., Landreth Bldg. Semple, Jacobs & Co., Rialto Building. St. Louis Stock Exchange Officers: B. F. Jacobs, Pres. Walker Hill, Jr„ V. P. W. M. Louderman, Sec. and Tr. Chas. A. Huebner, A. Sec. and A. Tr. RATES OF COMMISSION STOCKS Stocks selling at $1.00 per share or less, $2.00 per 100 shares. Stocks selling at $1.12M 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. Smith, Moore & Co., LaSalle Bldg. WALDHEIM, PLATT & CO., 513 Olive Street. WALKER, G. H. & CO., Broadway & Locust Streets. Whitaker & Company, 300 North 4th Street. Stocks selling at $10.00 per share and less than $25.00 per share, $0.12M 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, $0.62M per $1,000 par value. The minimum commission to be charged shall be $1.00. BALTIMORE Edward D. Allen & Co., 209 Keyser Bldg. BAKER, WATTS & CO., Calvert and Red wood Sts. A. P. Barrett & Co., 315 Baltimore Life Bldg. ALEXANDER BROWN & SONS, Calvert and Baltimore Sts. Frank B. Cahn & Co., Equitable Bldg. Douglas G. Carroll & Co., 4 Stock Exchange Bldg. Casey, Nicholas & Co., 100 Mercantile Trust Bldg. Colston, Marburg & Price, Keyser Bldg. J. C. Cooper & Co., 7 Stock Exchange Bldg. Owen Daly & Co., 23 South St. D. Fahnestock & Co., 14 Stock Exchange Bldg. Field, Glore & Co., 102 St. Paul St. J. Harmanus Fisher & Sons, 7 South St. Robert Garrett & Sons, Garrett Bldg. John D. Howard & Co., South and Redwood Sts. Jenkins, Whedbee & Poe, 10 South St. E. R. Jones & Co., 402 First National Bank Bldg. W. W. Lanahan & Co., Calvert Bldg. W. G. Leimbach & Co., 7 St. Paul St. Lockwood, Peck & Co., Keyser Bldg. MACKUBIN, LEGG & CO., South and Red wood Sts. Murphy & Co., G. M. P., Calvert Bldg. Alex. C. Nelson & Co., 20 Stock Exchange Bldg. Philip L. Poe & Co., 205 E. Redwood St. Post & Flagg, 1 Stock Exchange Bldg. Baltimore Stock Exchange Officers: Harry Fahnestock, Pres. Chas. W. L. Johnson, V. P. M. L. Rodemeyer.Assi. Sec. and Tr. Theodore Gould, Sec.-Tr. RATES OF COMMISSION TO BE CHARGED TO Minimum Commissions on Stocks Members Members NonSelling at Prices Below when no when name Members name is is given up given up 1 c Under 10c a share................................ Me Me 3 c At 10c a share and above, but under $ 1 Me Me iMc lMc At $1 a share and above, but under $10 7Mc At $10 a share and above, but under 15c 2Mc $50......................................... ........... At $50 a share and above, but under 4 c 25c $100........... .......................... 6Mc At $100 a share and above, but under 7 c 40c 10 c $150...,______________________ At $150 a share and above, but under 8 c 13 c 50c $200....................... .................................................. 04% ..06% At $200 a share and above.................. M% of amount of amount of amount of of of transaction transaction transaction The above rates apply to all transactions made on the floor of this Exchange in stocks listed on the New York Stock Exchange, except as provided in Special Rates. Riggs & McLane, 32 South St. John J. Riordan, Jr. & Co., Fidelity Bldg. J. H. Rowland & Co., 7 South St. Schwarz, Morton & Schwarz. 202 Keyser Bldg. Harry B. Soper & Co., 401 Vickers Bldg. STEIN BROS. & BOYCE, 6 S. Calvert St. Strother, Brogden & Co., Calvert and Redwood Sts. Howard R. Taylor & Co., 4 Stock Exchange Bide. Weilepp-Bruton & Co., Munsey Bldg. Westheimer & Co., 213 E. Redwood St. Henry White & Co., 1414 Fidelity Bldg. Whitely & Co., T. Evans., 3 Stock Exchange Bldg RATES OF COMMISSION TO BE CHARGED TO Minimum Commissions on Stocks Members Members NonSelling at Prices Below Members when no when name name is is given up given up At 10 ($100 per $1,000 par value) or $2.50 75c 40c above__________ _____________ $1.25 Under 10 ($100 per $1,000 par value) 40c 25c Except that on bonds having five years or less to run to maturity and sell ing at 96 and above, but not above $1.25 40c 25c 110, the rates shall be______________ The minimum commission charge on any transaction in bonds shall be $1.25. Special Rates: Commercial Credit Co. common—N. Y. Stock Exchange rate. Cons. Gas Electric Light & Power Co. common—N. Y. Curb Exchange rate. Pennsylvania Water and Power Company—N. Y. Curb Exchange rate. Silica Gel Corporation—N. Y. Curb Exchange rate. Stocks selling under 10c—By agreement, no minimum. Commissions on rights shall be the same as those fixed for stocks. The minimum commission charged on any completed Individual trans action in stocks shall be not less than $2.50, provided that the commission charge on any such transaction involving a total amount of less than $50.00 shall be not less than $1.00. BOSTON MOSELEY, F. S. & CO., KO Congress Street. Goodwin, Homer & Co., 53 State Street. Adams, L. Sherman, 10 Post Office Square. Gray & Wilmerding, 84 State Street. Mott, Louis P. & Co., 80 Federal Street. Room 308 J. S. BACHE & CO., 10 Post Office Square. Griffin, James F. & Co., 53 State Street, Room 36A. Paine, Webber & Co., 82 Devonshire Street. Baldwin & Co., 30 Federal Street. Griffith, Norman, 60 Congress Street, Rooms Besse, Harry W. & Co., 89 State St. PIERCE, E. A. & CO .,45 Milk Street. 411-412. Blake Bros. & Company, 111 Devonshire Street. Prince, F. H. & Co., Ames Building, Room 1. Bolles, M. & Co., 35 Congress Street, Room 803. Proctor, Cook & Co., 50 Congress Street. HAYDEN, STONE & CO., 75 Federal Street Bowen, J. W. & Co., 53 State Street, Rooms 27, 28. Schirmer, Atherton & Co., 79 Milk Street. Hines, Robertson & Co., 60 Congress Street, Bright, Elmer H. & Co., 84 State Street. Sears & Co., 68 Devonshire St. Rooms 406-08. Bright, Sears & Co., 53 State Street, Room 203. Smith, Edward B. & Co., 1 Federal Street. Brown Brothers, Harriman & Co., 10 P. O. Square. Southgate & Co., 10 Post Office Square. HORNBLOWER & WEEKS, 60 Congress Street Burr, Gannett & Co., 53 State Street, Room 29. Thorndike & Allen, 53 State Street, Room 309. Hovey, Chandler & Co., 82 Devonshire Street, Clark, Childs & Keech, 10 P. O. Square. Thornquist, Carl J., 53 State Street, Room 36B. Room 326. Clark, Dodge & Co., 70 Federal Street. Tifft Brothers, 50 Congress Street. Hutchins & Parkinson, 53 State Street. Collins, Breed & Co., 82 Devonshire Street. TOWNSEND, ANTHONY & TYSON, 15 State Jackson & Curtis, 10 Post Office Square. Colwell & Co., 209 Washington Street. Street. Jacobs, Williams & Co., 50 Congress Street. Crocker, Percy G. & Co., 35 Congress Street. Tucker, Anthony & Co., 74 State Streot. Kidder, Peabody & Co., 115 Devonshire Street. Dabney, F. L. & Co., 10 Post Office Sq. Wainwright, H. C. & Co., 60 State Street, Room Kitching, E. J. & Co., 75 Federal Street. DAY, R. L. & CO., 45 Milk Street. 101. Laidlaw & Co., 24 Federal Street. Downer & Co., 53 State St., Room 36A Walsh, A. G. & Son, 75 State St. Lee Bros., 53 State St., Room 36A. Whitney, Byam & Co., 53 State Street, Room 633. Lee, Higginson & Co., 70 Federal Street. ESTABROOK & CO., 15 State Street. Whitney & Elwell, 30 State Street. Long & Nash, 10 Post Office Square. Fales, T. C. & Co., 140 Federal Street. Williston, J. R. & Co., 53 State Street, Rooms 209, Lutz, Roger A. & Co., 60 State St. Gagen, T. F. & Co., 53 State Street, Room 36A. 210. Moors & Cabot, 111 Devonshire Street. Gallagher, R. A. & Co., 50 Congress Street, Rm. Wrenn Bros. & Co„ 30 Federal Street. Moran, John J. & Co., 53 State Street, Room 636. 511-514. Further Information on firms appearing In bold face type will be found in tbe selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1680 LOCAL STOCK EXCHANGE FIRMS BOSTON—Continued Boston Stock Exchange, Officers Charles A. Collins, Pres. William H. Claflin, Jr., Vice-Pres. George A. Rich, Tr. George A. Rich, Sec. BATES OF COMMISSION In Effect July 7, 1932 BONDS Railroad, public utility and industrial bonds, having more than five years to run— Selling at less than 310, on a par value of 31.000______________ Optional Selling at 310 and less than 3100 on a per value of 31,000.................31.25 Selling at and above 3100 on a par value of 31,000............................... 2.50 (Government Bonds are exempt from the regular rate) STOCKS PEB SHABE Selling below 50c_________ ______________________________ Optional Selling at 50o or above, but under 31.............................................. IK cents Selling at 31 or above, but under 35..................... ............ ............5 cents Selling at 35 or above, but under 310............................................. 7K cents Selling at 310 or above, but under 325___ _______ __________12K cents Selling at 325 or above, but under 350____ ____ ____________15 cents Selling at 350 or above, but under 375................................. .........17K cents Selling at 375 or above, but under 3100...................................... 20 cents Selling at 3100 or above, but under 3200_____ ______ _____ ..25 cents Selling at 3200 or above, but under 3250.............. ........................ 30 cents For each additional 350 or part thereof above 3250_____5 cents additional The minimum commission on each completed individual transaction shall not be less than one dollar, except that on transaction involving less than fifteen dollars the charge may be optional. 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 non members 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. PITTSBURGH Askin, George K„ Union Trust Bldg. Askln & Company, J. M„ Columbia Bk. Bldg. BACHE & CO., J. S. Oliver Bldg. Ballard, W. E., Keystone Bank Bldg. Barbour & Company, John B., Magee Bldg. Bear & Co., S. Lee, Union Trust Bldg. Brinker, Bell & Co., Union Trust Bldg. Carothers & Company, James, Union Bank Bldg. Dornberger & Co., C. S., 229 4th St. Duckham & Co., W. A., Union Trust Bldg. Edmundson, Jr., Eli, Columbia Bank Bldg. EDWARDS & COMPANY, H. S. Union Bank Bldg. Foster & Company, Bayard, 244 Oliver Bldg. Gammack & Company, Union Trust Bldg. Giles & Co.. R. C., Columbia Bank Bldg. Gluck, Hetzel & Co., Benedum-Trees Bldg. Goldsborough & Company, W. W., Union Bank Bldg. Goldsborough & Smith, 229 4th Ave. Hemphill, Noyes & Co., 446 Wood St. Holmes & Company, J. H., 419 Wood St. HOBNBLOWEB & WEEKS, First National Bank Bldg. Kane, John A., Columbia Bank Bldg. Kay, Richards & Company, Union Trust Bldg. Masten & Company, A. E„ 323 Fourth Ave. McJunkin, Patton & Company, 414 Union Bank Bldg. McLaughlin, McAfee & Company, Clark Bldg. Pittsburgh Stock Exchange Officers: Paul W. Leitch, Asst, to the Pres. R. S. Richards, Pres. Wm. J. Bauer, Treas. A. L. Brinham, Sec. Samuel Carothers, Vice-Pres. Moore, Leonard & Lynch, Union Trust Bldg. MORRIS, BROWN & COMPANY, 316 Fourth Ave. Nuttall & Company, R. V., Park Bldg. Parrish & Company, Investment Bldg. Post & Flagg, Oliver Bldg. Preston, Watt & Schoyer, Union Bank Bldg. Reynolds & Company, Grant Bldg. Robinson & Orr, 248 Fourth Ave. Stout & Company, Investment Bldg. WELLINGTON & CO., Union Trust Bldg. Wettach & Company, 218 Fourth Ave. Wettengel & Company, A. C„ Peoples Bank Bldg. Zacharias & Company, Union Trust Bldg. RATES OF COMMISSION The minimum rates of commission charged to nonmembers of the Exchange for buying or selling each 31,000 bond shall be not less than 32.50 (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: Stocks selling under 50c a share.......... .................................................3% * Stocks selling at 50c and under 31.00............................................... ......03 Stocks selling at 31.00 and under 33.00........................... .......................04 Stocks selling at 33.00 and under 310.00............................... .................075 Stocks selling at 310.00 and under 325.00................................................. 125 Stocks selling at 325.00 and under 350.00..............................................15 Stocks selling at 350.00 and under 375.00.................................................175 Stocks selling at 375.00 and under 3100.00...................................... . .20 Stocks selling at 3100.00 and under 3200.00................... .........................25 Stocks selling at 3200.00, 30.15 per share additional, and for each advance of 3100.00 in the selling price, an additional 30.15 per share. A minimum commission of mot less than 31.00 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. SAN FRANCISCO Adams, W. W. & Co., 465 California St. Alanson Bros. & Co., 486 California St. Bacon & Co., 485 California St. Barth, J. & Co., 482 California St. Berl, Edwin D., 256 Montgomery St. Bolton, Robert C. & Co., 486 California St. Bremer, Milton A., 256 Montgomery St. CAVALIER, WM. & CO., 131 Sutter St. Coleman, Jr.. Robert L., 133 Montgomery St. Curran & Hooker, 155 Sansome St. Davis, Skaggs & Co., 521 One Eleven Sutter Bldg. Doyle, Feeney Co., 2801 Russ Bldg. Dwyer & Park, 485 California St. Ehrman, Albert L„ 519 California St. Fagan Eastland & Co., 1 Montgomery St., Filmer, Bradford & Maxwell, 37 Montgomery St. Fisher & Co., 351 Montgomery St. Greenwood-Raggio & Co., 1501 Russ Bldg. Grimes & Swift, 500 Financial Center Bldg. Haley, S. M., 315 Montgomery St. Hellmann-Wade & Co., 517 California St. Hendrickson, Shuman & Co., 2404 Russ Bldg. Holt & Co., 155 Sansome St. Howell, Brayton, Douglass & Co., 2100 Russ Bldg. Jenkins, Reginald C., 216 Montgomery St. Johnson, Cyrus B., 155 Sansome St. Kahn, Sidney P„ 482 California St. Keyston F. B. Co., 50 Post St. Koshland, Max I. & Co., Suite 12, Mills Bldg. Leib, Keyston & Co., 50 Post St. Lilienthal, M. P„ 1204 Russ Bldg. Lundborg, Irving & Co., 604 Kohl Bldg. Manhelm, Dibbern & Co., 440 Montgomery St. McDonnell & Co., 633 Market St. McNear & Company, 362 Russ Bldg. Meigs, J. J. & Co., 315 Montgomery St. Newell Murdoch Railey & Co., 232 Montgomery St. Norris, L. H. & Son, 1272 Russ Bldg. Parrish, Earl T„ 50 Post St. PIERCE, E. A. & CO., 301 Montgomery St. Raiss, Carl & Co., 256 Montgomery St. St. Goar, Chas. E., 1029 Russ Bldg. Shaughnessy, Frank C. & Co., 604 One Eleven Sutter Bldg. Steinhardt & Co., 429 Russ Bldg. Stern, John D., 155 Sansome St. Stewart, Deuchar & Co., 1814 Russ Bldg. Strassburger & Co., 133 Montgomery St. Sutro, Adolph G., 1000 Point Lobos Ave. SUTRO & CO., 407 Montgomery St. Walston & Co., 485 California St. Wilson, Francis A., 1312 Russ Bldg. Witter, Dean & Co., 486 California 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 1681 LOCAL STOCK EXCHANGE FIRMS SAN FRANCISCO—Continued San Francisco Stock Exchange Officers: (155 Sansome St.) F. C. Shaughnessy, Pres. Ross Ambler Curran, V. P. Ruth Kapelsky, Sec. 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) MINIMUM RATES OF COMMISSION—In Effect April 28, 1920 Minimum Charge On Stocks Selling t Under $1.00 per share_________________ $ 3.00 per 100 shares..$2.50 (Odd lots 12Hc per share) At $ 1.00 and under $ 3.00 per share___ $ 4.00 per 100 shares..$2.50 (Odd lots 12>^c per share) At $ 3.00 and under $ 5.00 per share___ $ 7.50 per 100 shares..$2.50 (Odd lots 12Hc per share) At $ 5.00 and under $ 10.00 per share....... $10.00 per 100 shares..$2.50 (Odd lots 12^c per share) At$ 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) At $ 75.00 and under $100.00 per share___ $25.00 per 100 shares..$2.50 (Odd lots 25c per share) At $100.00 and under $200.00 per share....... $30.00 per 100 shares..$3.00 (Odd lots 30c per share) 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. t In no case need the commission on rights selling under fifty cents exceed five per cent of the money involved in the trade. 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 On New York Curb Exchange Stocks: At $1.00 per share and under $3.00 per share........ ..$ 7.50 per 100 shares The MINIMUM CHARGE for business transacted on the New York Stock Exchange or the New York Curb Exchange shall be $5.00, except that when the total amount involved is less than $50.00, the minimum charge is $2.50; and except that when the amount of money involved is less than $10.00, the commission charge shall be optional. Insurance and postage at the rate of 15c for each $1,000 of value or part thereof shall be charged on all non-negotiable securities shipped for customers whether eastbound or westbound, with a minimum charge of 30c. Insurance and postage at the rate of 20c for each $1,000 of value or part thereof shall be charged on all negotiable securities shipped for customers, whether eastbound or westbound, with a minimum charge of 45c. If a member accounts to a customer for several orders involving one shipment, the total proceeds may be added and the insurance and postage charge may be made on the total proceeds at the rates above specified. WASHINGTON, D. C. Auchincloss, Parker & Redpatch, 719 15th St., N. W. Booker, Y. E. & Company, 730 15th St., N. W. Glover & Flather, 1508 H St., N. W. Hibbs, W. B. & Co., Hibbs Bldg. Johnston, James M. & Company, Shoreham Bldg. Washington Stock Exchange OfBcers: C J. Gockeler, Pres. Y. E. Booker, V. P. James M. Johnston, Tr. Karl W. Corby, Sec. COMMISSION CHARGES BONDS Government...................................... -.......................... All other bonds------------------------------ -------- ------- 12J^c. per $100 25c. per $100 Murphy, G. M. P. & Company, 1510 H St., N. W. Waggaman, Brawner & Company, Inc., 1700 Eye St., N. W. Westheimer & Company, Woodward Bldg. STOCKS Under 50c a share........................ ........... ............................... lj^c. 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 $200........................ 50c. pershare At $200 a share and above.............................. M% of amount of transaction Commissions on Rights shall be the same as those fixed for stocks. Fractional shares: Less than share............................................ ........... 25c. each transaction y share and over____________________________50c. each transaction Minimum charge of $1.50 on any single transaction except fractional shares. MINNEAPOLIS — ST. PAUL STOCK EXCHANGE ALLISON WILLIAMS CO., Minneapolis. Bundy & Park, Inc., St. Paul. Greenman, A. A., E1509, First National Bank Bldg., St. Paul. Kalman & Company, 144 Endicott Bldg., St. Paul. Lewis & Co., 601 Second Ave. Minneapolis. McCormick, F. M., 436 Baker Bldg., Minneapolis. Mahoney, C. D., 260 Roanoke Bldg., Minneapolis. N. W. Discount & Acceptance Corporation, 708 Thorpe Bldg., Minneapolis. Paine, Webber & Co., Rand Tower, Minneapolis. PIPER, JOFFRAY & HOPWOOD, 529 2nd Ave., So., Minneapolis. Minneapolis-St. Paul Stock Exchange Officers: Robert G. Hopwood, Pres. Robert L. John, V. P. Howard R. Selover, V. P. D. H. Brown, Sec. and Tr. COMMISSION RATES Effective March 15,1932 Stocks selling under 50 cts. per share.......... ...... 2 cts. per share From 50 cts. to less than $1.00_.____ 3 cts. per share $1.00 to less than $5.00_________________ 5 cts. per share $5.00 to less than $10.00....................................................... .10 cts. per share $10.00 to less than $25.00..... 15 cts. per share $25.00 to less than $100.00......... 25 cts. per share $100.00 to less than $150.00....... 30 cts. per share $150.00 to less than $200.00.................... 50 cts. per share $200.00 and over......................................... of 1% of amount involved Minimum $1.00 for stocks selling under $10.00 per share Minimum $2.00 for stocks selling at $10.00 and over Rights—same as stocks. Bonds per $1,000.00 and less............................. .................. .................. $2.50 Smith & Co., Wharton C„ 262 Bremer Arcade St. Paul. Thrall West Co., Minneapolis. Wells-Dickey Company, 5th St. and 2nd Ave., Minneapolis. Wood, Harold E. & Co., St. Paul. Woodard Elwood & Co., Minneapolis. SPECIAL RATES ON BANK STOCKS $1.00 to less than $10.00.................................................... 10 cts .per share $10.00 to less than $25.00_____ 12K cts. per share $25.00 to less than $50.00........ 15 cts. per share $50.00 to less than $75.00........................... 17J4cts per share. $75.00 to less than $100.00............ 20 cts. per share $100.00 to less than $200.00.............................................. 25 cts. per share $200.00 and above__________ ________ _____ ______ 25 cts. per share plus 5 cts. per share additional for each $50.00 increase in price or fraction thereof. Minimum—as above. SPECIAL RATES ON T.C.R.T.C. NOTES AND SCRIP Notes 25 cts. per $100.00___________________________Minimum $1.50 Scrip 2}4 cts per 1/100 Scrip............................... ................. Minimum $1.50 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 1682 LOCAL STOCK EXCHANGE FIRMS Alrey & Richardson, 816 Union St. Beer & Co., 817 Gravier St. Lehman, Stern & Co., 840 Union St. MOORE & HYAMS, 610 Common St. Pierce & Co., fi. A., Maritime Bldg. P. H. SAUNDERS CO., Inc., 3107 American Bk. Bldg. Smith & Co., Mason, 843 Union St. NEW ORLEANS DANE & WEIL, Inc., 1530 Canal Bk. Bldg. Fenner, Beane & Ungerleider, 818 Gravier St. Glenny & Company, 718 Whitney Bldg. Jones & Co., Larz E., 734 Gravier St. New Orleans Stock Exchange Officers. RATES OF COMMISSIONS. Established by the New Orleans Stock Exchange. Ti*oncflPtinTiG John Dane, Pres. H. M. Butler, 2nd Vice-Pres. George J. Krummel, Sec. To be charged on all On U. S. Bonds.......................... ........................................... $2.50 per $1,000.00 On State, 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 ON ALL STOCKS SELLING: Under fifty cents.............................................................As mutually agreed__ At fifty cents and above, but under $1.00....Not less than 3 cts per share At $1.00 and up to $10.00_________________ .7}^ cts. per share From $10.00 up to $25.00 per share...................... 12K cts. per share From $25.00 up to $50.00 per share___________ 15 cts. per share From $50.00 up to $75.00 per share_________________ 17}^ cts. per share From $75.00 up to $100.00 per share__________________ 25 cts. per share From $100.00 up to $200.00 per share..................... ............. 50 cts. per share 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 price or fraction thereof. ♦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. Tessier & Son, C. A., 217 Carondelet St. Villere & Co., St. Denis J., 552 Canal Bk. Bldg. Weil & Co .,Inc., 1019 Union Indemnity Bldg. Wells & Stanton, 408 Cotton Exchange Bldg. WHEELER & WOOLFOLK, 720 Common St. Woolfolk, Huggins & Shober & Co., 1407 Canal Bk. Bldg. Allen C. Higgens, 1st Vice-Pres. Jeffrey7 Steinhardt, Treas. Erwin R. Schweikhardt, A. Sec. ON BANK STOCKS SELLING: Under $10.00 a share..... ........................................................... 25 cts. per share At $1.00 and up to $75.00, exclusive,..... ............................... 50 cts. per share At $75.00 and up to $100.00, exclusive,_............................. 75 cts. per share At $100.00 and up to $200.00, exclusive........ ............. ........... $1.00 per share At $200.00 and over................................................. of 1% of Market Value On Exchange, Theatre and Club Stocks selling: At or below $100.00......... ...........................................................$5.00 per share Between $100.00 and $1,000.00........................................ 5% of market value At $1,000.00 and up to $5,000.00, exclusive....... ................-$50.00 per share At $5,000.00 and up to $10,000.00, exclusive__________ $100.00 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 per share Commissions on rental of Exchange stocks shall be $25.00 as a minimum charge. On rentals for periods less than one year the commission shall be pro-rated, provided no commission less than $10.00 shall be charged. THE MINIMUM CHARGE ON ANY ONE TRANSACTION SHALL BE $2.00 CINCINNATI ASSEL, GOETZ & MOERLEIN, INC., 218 Provident Bank Bldg. Bartlett, Benj. D. & Co., 313 Vine Street. J. L. Barth Co., Fourth National Bldg. BREED AND HARRISON, INC., 504 First National Bank Bldg. Central Trust Co., 4th & Vine Streets COHLE & TYREE CO., 711 Union Trust Bldg. DOMINICK & DOMINICK, Mercantile Li brary Bldg. Dunlap, T. Oliver, 407 Mercantile Library Bldg. Eustis, Geo. & Co., 810 Fourth National Bank Bldg. Field, R. E. & Co., 1124 Union Central Bldg. Fifth-Third Securities Co., 14 W. Fourth Street. Fox & Chambers, Inc. Gradison, W. D. & Co., 408 Dixie Terminal Bldg. Grau & Co., 1024 Union Central Bldg. Hill, Alfred & Co., 207 Traction Bldg. HUTTON, W. E. & CO., First National Bank Bldg. Cincinnati Stock Exchange Officers: W. D. Gradison, Pres. J. M. Hutton, V. P. Guy D. Ballmann, Tr. Richard Seving, Sec. IRWIN BALLMAN CO., THE, First National Bank Bldg. Lepper, A. & Co., 309 First National Bank Bldg. MURRAY, C. C. & CO., 706 Union Trust Bldg Reiter & Co., C. H., Union Trust Bldg. Stephenson & Potter, 704 Union Central Bldg. Van Lahr, Doll & Isphording, Inc., 420 Provident Bank Bldg. WEIL, ROTH & IRVING CO., 217 Dixie Terminal Bldg. Westerfield & Co., 1003 Union Trust Bldg. Westhelmer & Co., First National Bank Bldg. ON RIGHTS AND WARRANTS FRACTIONAL SHARES There shall be charged a Commission not less than 50 cents on fractional shares. As to stocks and rights which are listed on the New York Stock Exchange, the Commission shall not be less than are provided by the rules of the New York Stock Exchange. Whenever the Board of Trustees, however, deems 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 shall not be less than are provided by the rules of such other Exchanges. RATES TO MEMBERS—GIVE-UPS. On stocks listed only on the Cincinnati Stock Exchange the commission shall not be less than the rate given below: Rate per sbare Selling under $1.00 per share_____ ____ ________as mutually agreed upon Selling at $1.00 but under $5.00____________ .Not less than lc Selling at $5.00 but under $10.00.._____ Not less than 3c Selling at $10.00 and above___________________________ Not less than 4c On stocks listed jointly on the New York and Cincinnati Stock Exchange the commission shall not be less than the rates given below: Rate per share Selling under $1.00 per share__________________ as mutually agreed upon Selling at $1.00 but under $5.00__....... Not less than lc Selling at $5.00 but under $10.00_____________________Not less than 2c Selling at $10.00 and over__________________________ Not less than 2)4e RATES TO MEMBERS—CLEARANCE BUSINESS. On business, when the principal is not given up, the commission shall not be less than one-half of the non-member rates. MINIMUM COMMISSION ON RIGHTS AND WARRANTS Provided, however, that on every transaction which involves an amount of $5.00 or more, the minimum Commission shall be not less than $1.00. A transaction which involves under $5.00, the minimum Commission shall be as determined by the broker. ON RIGHTS AND WARRANTS On business for members of the Exchange, the commission on rights and warrants shall be the same as on stocks, except in the case of rights and warrants selling below $100 on which the commission may be mutually agreed upon. ON BONDS On business for members the Commission on Bonds shall not be less than 40 cents per $1,000 par value of Bonds. BONDS. The Commission charge on all bonds, except that of U. S. Bonds, is one-quarter of one per cent on the par value. The Commission charge on U. S. bonds is one-eighth of one per cent. SCHEDULE OF RATES OF COMMISSION There shall be charged the following commissions: ON STOCKS Price Rate Per Share Selling under $1.00 per share............... Not less than 3c Selling at $1.00 per share and below $5.00 per share__ Not less than 7J^c Selling at $5.00 per share and below $10.00 per share. .Not less than 15c 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 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 Selling at $400.00 per share and over....................... Not less than $2.00 MINIMUM COMMISSION ON STOCKS Provided, however, that on every transaction which involves an amount of $15.00 or more, the minimum commission shall be not less than $2.50. A transaction which involves under $15.00, the minimum commission shall be as determined by the broker. There shall be charged the following Commission: Price Rate Per Right or Warrant Selling under 50c............... ........................................(as mutually agreed upon) Selling at 50c but under $1.00...............................................Not less than 3c Selling at $1.00 but under $5.00........................................... Not less than 5c Selling at $5.00 but under $10.00......... Not less than 7)^c Selling at $10.00 and above.................................................... Not less than 15c 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 1683 LOCAL STOCK EXCHANGE FIRMS SEATTLE Lockett & Co., G., Railway Exchange Bldg. Pacific National Co., Second and Madison. Peoples Bank & Trust Co., 2nd and Pike. Puget Mortgage Securities, Inc., 1329 Third Ave. Pratt & Co., H. P., Hoge Bldg. Price & Co., John E , National Bk. of Commerce Bldg. The Quinn Smith Co., Dexter Horton Bldg. Riker & Woolsey, Inc., Hoge Bldg. Logan & Bryan, Exchange Bldg. The Seattle Co., Second and Columbia. Marine National Co., Second and Spring. Smith & Strout, Inc., Leary Bldg. Hawkins & Co., R. M., Central Bldg. Blackford, John C., Hoge Bldg. Blyth & Co., 1411 Fourth Ave. Bramhall & Stein, Hoge Bldg. Brown-Jeklin Co., Exchange Bldg. Conrad Bruce & Co., 707 Second Ave. Herrin & Co., H. M., Exchange Bldg. Kutz & Co., John A., Exchange Bldg. Lanser & Co., J. F., 812 Second Ave. Latimer & Co., A. G., Dexter Horton Bldg. DRUMHELLER, ERLICHMAN & WHITE, Exchange Bldg. Easter & Co., F. K., 717 Second Ave. Eberting & Co., C. H., 902 Second Ave. Ferris & Hardgrove, Exchange Bldg. First National Co., Second and Columbia. Fix & Co.. William H., Dexter Horton Bldg. Greening & Co., Thos. B., 816 Second Ave. Harper & Son, Wm. P„ Hoge Bldg. Lewis, Erwin & Co., 202 Marion St. McConahy, C. D„ American Bank Bldg. Speckert, Frank J., 105 Cherry St. Meiklejohn & Brown, 1321 Smith Tower. A. J. Theis & Co., 1003 Green Bldg. North Pacific Finance Corp., 1520 First Ave. Underwriters Finance Corp., Colman Bldg. Oaks, Prescott, 607-1411 Fourth Ave., Bldg. United National Corporation, Exchange Bldg. Seattle Stock Exchange Officers: Charles G. Mullen, Pres. F. K. Easter, Vice-Pres. Harry J. Markey, Sec. J. F. Lanser, Treas. J. G. Rake, Exec. Sec. Charles T. Donworth, Counsel RATES OF COMMISSION On Stocks Selling: Under $1.00 per share............... ................ At $1.00 and under $2.60 per share......... At $2.50 and under $5.00 per share....... At $5.00 and under $25 00 per share---At $25.00 and under $50.00 per share... At $50.00 and under $75.00 per share... At $75.00 and under $100.00 per share.. At $100.00 and under $150.00 per share Per Minimum Share Charge $2.50 . 5* 2.50 .12H* 5.00 . 15* 5.00 . 25* 5.00 . 50* 5.00 . 75* 5.00 .$1.00 5.00 .$1.50 At $150.00 and over per share, the commission shall be increased 50* for each $50.00 or fraction thereof increase in selling price. The minimum charge shall be $5.00. On all transactions where the total amount of money involved is less than $25.00, the commission charge shall be discretionary with the member. In no case need the commission on warrants and/or rights selling under fifty cents exceed 5% of the money involved in the trade. BONDS $5.00 per $1,000 par value or fraction thereof. LOUISVILLE Almstedt Brothers, 425 W. Market Street Culbertson, S. A., Inter Southern Bldg. HENNING CHAMBERS & CO., 431 W. Jeffer son St. HILLIARD & SON, J. J. B.,419 W. Jefferson St. STEIN BROTHERS & BOYCE, 427 W. Jefferson St. LYONS & COMPANY, W. L., Kenyon Bldg. Wakefield & Co., Dunlap, 413 W. Jefferson St. Ferris & Hardgrove, American Bank Building WILLSON & CO., JAMES C., 130 S. Fifth St. COMMISSION RATES Commission on stocks selling at less than $150 per share.................... $ .25 Commission on stocks selling over $150 and less than $250............. .50 Commission on stocks selling over $250 and less than $500________ 1.00 Commission on stocks selling over $500.............................. 2.00 Minimum Commission_____________________ _________ _______ 1.00 Commission on bonds $2.50 per $1,000 Louisville Stock Exchange Officers: W. N. Clarke, Vice-President S. Clay Lyons, President F. L. Almstedt, Secretary A. J. Howard, Treasurer PORTLAND, OREGON Atkinson, Jones & Co. Inc., 87 Sixth St. Barneson & Co., H. J., 320 Stark St. Blankenship, Gould & Keeler, Inc., Wilcox Bldg. Blythe & Co., Pacific Bldg. Burr, G. H., Conrad & Broom, Inc., 86 Sixth St. Commonwealth Securities Corporation, 105 Sixth St. Holt, Robbins & Werschkul, National Bank Bldg. Dean Witter & Co., Porter Bldg. Johnson, Roy A., U. S. Bank Bldg. Federal Securities Co., American Bank Bldg. Ferris & Hardgrove, American Bank Bldg. United States Marshall Wright & Co., Pacific Bldg. Smith, Camp & Riley, Porter Bldg. COMMISSION SCHEDULE Effective March 28, 1930 Portland Stock and Bond Exchange Officers: Colin Livingstone, Pres. W. H. Hemphill, Tr. Richard Martin, V. Pres. Fred Bergesch, Sec. On Stocks Selling Per 100 Shares Under $1.00__________________ _______ $3.00 At $1.00 and under $3.00_______ ________4.00 BONDS Odd Lots Minimum (per share) $2.50 $.12H 2.50 .12^ At $3.00 and under $5.00_______ ________7.50 • 12H 2.50 At $5.00 and under $10______ __ ________10.00 2.50 2.50 $2.50 per $1,000.........._...................... ...................... $2.50 Minimum Charge Liberty Bonds___________________ _$1.25 per $1,000 par value...$2.50 At $10 and under $25__________ ________17.50 •12H .25 NOTE: At $25 and under $50__________ ________20.00 .25 2.50 At $50 and under $75......... ........... ________22.50 .25 2.50 At $75 and under $100_________ ________25.00 .25 2.50 At $100 and under $200________ _______ 30.00 .30 3.00 Whenever the commission charge based on the odd lot rate is higher than a charge for a trading unit of the same stock, the latter amount may be charged. On all transactions where the amount of money involved is less than $10.00, the commission charge shall be optional, and when the amount is over $10.00 but not more than $50.00, the commission charge shall be 5% of the sum involved. Commissions are “not less than” rates indicated above, Chapter XX, Sec. 2, By-laws. The commission on stocks listed on this and other exchanges shall be not less than the commission on such other exchange or exchanges. At $200 and over per share, the commission shall be increased $5 per 100 shares additional for each $50 or fraction thereof increase in selling price. The commission on odd lots shall be on pro rata basis. The minimum charge shall be one-tenth the commission charged for 100 shares. Farther information on firms appearing in bold face type will be found in tbe selected list of Investment Dealers following bank list in each city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1684 LOCAL STOCK EXCHANGE FIRMS Carroll & Co., Inc., Guardian Trust Bldg. Trevor Currie, 437 U. S. National Bank Bldg. Cleek & Co., 319 C. A. Johnson Bldg. Coe & Co., W. L., 611 C. A. Johnson Bldg. Downs & Co., 718 17th St. Foreman & Co., 213 California Bldg. W. R. Given & Co., Suite 804 Interstate Trust Bldg. H. H. Hurd & Company, 631 U. S. Nat’l Bank Bldg. Ralph G. McFann & Co., 421 U. S. Nat’l Bank Bldg. Meyer-Martin & Co., Suite 931 U. S. Nat’l Bank Bldg. DENVER Nation Wide Investment Co., 2239 E. Colfax Ave. W. F. Ryan, Midwest Board of Trade, Inc., 509 17th St. Stern-Stovall Co., 404 Patterson Bldg. A. F. Woodward, 521 U. S. National Bank Bldg. R. E. Young & Company, 1706 Stout St. Denver Stock Exchange Officers: Units of Trading (Board Lots) Warren R. Given, Pres. Harry A. Stern, V. P. The unit of trading (board lots) shall be as follows: A. Downs, Tr. Ralph M. Davis, See. 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 25 cents per share—500 shares. Stocks selling at 25 cents per share and under $3.00 per share—100 shares. Stocks selling at $3.00 per share and under $10.00 per share—50 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. KATES OF COMMISSION Commissions Charged Stocks selling under 5 cents—Five per cent on money. Stocks selling at 5 cents and under 10 cents—$2.50 per 1,000 shares. Stocks selling at 10 cents and under 25 cents—% cent per share. Stocks selling at 25 cents and under 50 cents—$1.50 per 100 shares. Stocks selling at 50 cents and under $1.00—$2.50 per 100 shares. Stocks selling at $1.00 and under $2.50—$3.00 per 100 shares. Stocks selling at $2.50 and under $5.00—$5.00 per 100 shares. Stocks selling at $5.00 and under $10.00—$7.50 per 100 shares. Stocks selling at $10.00 and under $25.00—$12.50 per 100 shares. Stocks selling at $25.00 and over—% of 1% on money. Minimum commission on stocks selling under $10.00 per share—$2.50. Minimum commission on stocks selling at $10.00 and above—$3.50. 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 speciaf 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. RICHMOND Livingston & Co., 911 E. Main Street. RICHMOND CORP., 809 E. Main Street. Branch, Thomas & Co., 1101 E. Main Street. Mason-Hagan, Inc., 916 E. Main Street. Scott & Stringfellow, Mutual Bldg. Burch, Caskie G. & Company, 1118 E. Main Street. Murphy, G. M.-P. & Company, 923 E. Main Street Davenport & Company, 113 E. Main Street. NOLTING, FRED’K E., INC., 907 E. Main St. Wheat, Galleher & Company, American Nat’l Bk. Bldg. Williams, John C. & Company, 1107 E. Main St. Branch, Cabell & Co., Law Bldg. Richmond Stock Exchange Officers: E. Addison Rennolds, Pres.. Thomas Branch & Co. Caskie G. Burch, Vice-Pres., Caskie G. Burch & Co. Henry C. S. Patterson, Secretary & Treasurer, Mason-Hagan, Inc. COMMISSIONS Stocks Selling under 50c....................... ................................................ 3% of amount Selling at 50c and under $1.00 per share_______________ 5c per share Selling at $1.00 and under $5.00 per share......... ..................7%c “ Selling at $5.00 and under $10.00 per share.....................— 10c Selling at $10 and under $15 per share............................ 12%c per share Selling at $15 and under $50.................................. -......... - 25c Selling at $50 and under $150............................................. 50c Selling at $150 and over...................................................... 100 BONDS Municipals, public utilities, and rails------All others.....................................-............... 25c per hundred 50c “ HARTFORD Adams, Merrill & Co., 36 Pearl Street Austin & Co., G. L„ 17 Lewis Street Ballard & Company, 43 Pearl Street Barnes & Co., Roy T. H., 125 Trumbull Street Bissell & Co., C. S„ 36 Pearl St. Conning & Company, 50 Lewis Street FRANCIS R. COOLEY & CO., 125 Pearl St. Easland & Company, 49 Pearl Street. Eddy Brothers & Co.. 33 Lewis Street Goodwin Beach & Co., 94 Pearl Street Paine, Webber & Co., 49 Pearl Street. Hartford Stock Exchange Officers: Kenneth S. Adams, President Goodwin B. Beach, Vice-President Thomas C. Perkins, Secretary M. L. Stevens, Assf. Secretary William D. Holman, Treasurer All bonds Stocks selling: Below $ 25 $ 25.... 49% 50___ 99% Perkins, Thomas C., 36 Pearl Street. Putnam & Company, 6 Central Row. Shaw, Aldrich & Co., 75 Pearl Street STEVENSON, GREGORY & CO., 56 Pearl St. Thomson, James L., 56 Pearl Street. Whaples, Yiering & Co., 129 Trumbull Street COMMISSION CHARGES % of 1% • 12% .25 .50 100___ 199% 1.00 2.00 200___ 299% 300___ 499% 500___ 699% 700 up 3.00 4.00 5.00 Commission Commission Commission Commission Commission Commission Commission Commission Commission SALT LAKE CITY Baglin, George, Newhouse Bldg. Badger, R. A. & Co., 16 West 2nd So. Street. Barclay, Featherstone & Co., Newhouse Bldg. Brown, C. M., First Security Co. CHILD, BARCLAY CO., Stock Exchange Bldg. Clark, W. H., Boston Bldg. Cole Allen Co., Atlas Bldg. Davies, Badger & Co., 23 W. 2nd So. St. Dixon, B. W. Co., 407 Scott Bldg. Conrad, W. K., Walker Bank Bldg. Doming, J. H., Felt Bldg. Doscher, H. W., Walker Bank Bldg. Havenor, Pett & Co., Newhouse Bldg. HOGLE, J. A. & CO., 132 So. Main Street. Hurley, A. L„ Boyd Park Bldg. Johnson, J. C., 132 So. Main Street. Lowe, I. I)., 132 So. Main Street. Lynch, J. C. & Co., Kearns Bldg. Larson, A. R., Elks Club. Mandell, J. J., Beason Bldg. McLeod, J. N., % Tintic Standard Mining Co. Nebeker, W. D„ Stock Exchange Bldg. Snow, V. S„ 282 Canyon Road. Thomas, Arthur Inc., Newhouse Bldg. Ure, Pett & Morriss Inc., Beason Bldg. Watson, Geo. H. & Co., 25 East So. Temple Street Weiler, W. S., Stock Exchange Bldg. Whitney, C. L., Stock Exchange Bldg. Woolley, F. R., Walker Bank Bldg. Salt Lake City Stock Exchange Officers: J. A. Barclay, President F. R. Woolley, lsf Vice-Pres. B. W. Dixon, 2nd Vice-Pres. Imer Pett, 3rd Vice-Pres. J. H. Doming, Sec. and Treas. 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
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