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INVESTMENT BANKERS ASSOCIATION OF AMERICA BOARD OF GOVERNORS GOVERNORS GOVERNORS PRESIDENT Chicago Edward B. Hall John S. Linen New York Harris, Hall & Company Chase National Bank of the City of New York Allan M. Pope New York EXECUTIVE VICE PRESIDENT The First Boston Corporation Hearn W. Streat New York Alden H. Little Chicago Bancamerica-Blair Corporation 33 South Clark Street Sidney J. Weinberg New York Goldman, Sachs & Co. VICE PRESIDENTS T. Weller Kimball Chicago Earle Bailie New York Glore, Forgan & Co. J. & W. Seligman & Co. Francis F. Patton Chicago Rudolph J. Eichler Los Angeles A. G. Becker & Co. Bateman, Eichler & Co. Charles S. Cheston Philadelphia James J. Minot, Jr. Boston Edward B. Smith & Co. Jackson & Curtis Devereux C. Josephs Philadelphia Claude G. Rives, Jr. New Orleans Graham, Parsons & Co. Whitney National Bank of New Orleans Emmett F. Connely Detroit Cloud Wampler Chicago First of Michigan Corporation Lawrence Stern and Company Incorporated Albert E. Van Court Los Angeles William R. Staats Co. William R. Daley Cleveland TREASURER Otis & Co. D. T. Richardson Chicago W illiam H. B urg St. Louis Kelley, Richardson & Co., Inc. Smith, Moore & Co. Louis J. Nicolaus St. Louis GOVERNORS Stifel, Nicolaus & Co., Inc. George W. Bovenizer NewYork Claude W. Wilhide Baltimore Kuhn, Loeb & Co. Baker, Watts & Co. Boston Perry E. Hall NewYork Francis E. Frothingham Coffin & Burr, Inc. Morgan Stanley & Co. Incorporated George N. Lindsay NewYork Orrin G. Wood Boston Estabrook & Co. Speyer & Co. Pittsburgh First National Bank at Pittsburgh San Francisco Mitchum, Tully & Co. Jean C. Witter San Francsico Dean Witter & Co. Charles E. Abbs Toronto A. E. Ames & Co., Limited Yelverton E. Booker Washington Y. E. Booker & Co. James M. Hutton, Jr. Cincinnati W. E. Hutton & Company John A. Prescott Kansas City Prescott, Wright, Snider Company Ben B. Ehrlichman t Seattle Drumheller, Ehrlichman & White Thomas W. Gregory, Jr. Houston Gregory-Eddleman Company E. Warren Willard Denver Boettcher and Company, Inc. Harold E. Wood St. Paul Harold E. Wood & Company George S. Stevenson Hartford Stevenson, Gregory & Co. William M. Marshall Spokane Spokane and Eastern Branch of Seattle—First National Bank J. Howard Arthur Colis Mitchum SECRETARY Chicago Robert Stevenson, 3rd 33 South Clark Street APPOINTED OFFICERS AND COUNSEL FIELD SECRETARY Chicago 33 South Clark Street MUNICIPAL SECRETARY Chicago Mary R. Lincoln 33 South Clark Street 33 South Clark Street Chicago 33 South Clark Street EDUCATIONAL DIRECTOR Dillman Chicago 33 South Clark Street Paul V. Keyser Chicago Emily L. Black Dudley C. Smith David COMMITTEE COUNSEL Washington 1010 Vermont Avenue ASSISTANT SECRETARIES Arthur G. Davis OFFICIAL REPORTER OFFICE COUNSEL Chicago George J. Drobnis 69 West Washington Street Chicago Theodore S. Chapman 111 West Monroe Street GROUP CHAIRMEN CALIFORNIA San Francisco Spencer Brush Brush, Slocumb & Co. CANADA H. N. Bawden Toronto Dominion Securities Corporation Limited MISSISSIPPI VALLEY I. A Long St. Louis Mercantile-Commerce Bank and Trust Company EASTERN PENNSYLVANIA Philadelphia Drexel & Co. SOUTHERN Atlanta J. Fleming Settle NORTHERN OHIO R. Verne Mitchell Mitchell, Herrick & Co. Cleveland James G. Callaway Cincinnati Elmer A. Dittmar J. LI. Hilsman & Co., Inc. Edward B. Smith & Co. SOUTHWESTERN Kansas City Prescott, Wright, Snider Company TEXAS OHIO VALLEY Detroit T. B. Johnson, Jr. San Antonio Mahan, Dittmar & Company Breed & Harrison, Inc. John C. Grier & Co., Inc. WESTERN PENNSYLVANIA Pittsburgh Moore, Leonard & Lynch PACIFIC NORTHWEST MINNESOTA Minneapolis Seattle Harry J. Markey Ernest O. Dorbritz Pacific National Bank of Seattle Wells-Dickey Co. Baltimore Baker, Watts & Co. New York MICHIGAN Robert C. Lehman Rollin G. Andrews John Redwood, Jr. Irving D. Fish Nichols, Terry & Dickinson, Inc. Edward Hopkinson, Jr. SOUTHEASTERN Boston Edward B. Smith & Co. NEW YORK Chicago Denver Engle, Adams & Company NEW ENGLAND Harcourt Amory CENTRAL STATES Marcus L. Baxter ROCKY MOUNTAIN Frederic A. Adams NATIONAL COMMITTEE CHAIRMEN GOVERNMENT AND FARM LOAN BONDS BUSINESS CONDUCT Rudolph J. Eichler Los Angeles Bateman, Eichler & Co. Robert G. Rouse New York Guaranty Trust Company of New York REAL ESTATE SECURITIES BUSINESS PROBLEMS Ben B. Ehrlichman Jean GROUP CHAIRMEN’S C. Witter San Francisco Dean Witter & Co. Harold E. Wood Karl INDUSTRIAL SECURITIES Weisheit New York Edward B. Smith & Co. New York Earle Bailie J. & W. Seligman & Co. COMMERCIAL CREDITS J. Norrish Thorne New York Goldman, Sachs & Co. CONSTITUTION AND BY-LAWS E. Warren Willard Denver Boettcher and Company, Inc. Colis EDUCATION Francis F. Patton INVESTMENT COMPANIES Mitchum San Francisco Mitchum, Tully & Co. Chicago A. G. Becker & Co. MEMBERSHIP Chicago Lawrence Stern and Company Incorporated Cloud Wampler FEDERAL TAXATION James J. Minot, Jr. RAILROAD SECURITIES New York Dick & Merle-Smith Fairman R. Dick Boston Seattle Drumheller, Ehrlichman & White STATE AND LOCAL TAXATION St. Paul Harold E. Wood & Company STATE LEGISLATION T. Weller Kimball Glore, Forgan & Co. Chicago TRADING Boston John O. Stubbs Whiting, Weeks & Knowles, Inc. WASHINGTON Boston Orrin G. Woodi Estabrook & Co. Jackson & Curtis FINANCE D. T. Richardson Chicago Kelley, Richardson & Co., Inc. FOREIGN SECURITIES Frederick M. Warburg Kuhn, Loeb & Co. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis New York MUNICIPAL SECURITIES New York Chase National Bank of the City of New York John S. Linen PUBLIC SERVICE SECURITIES Boston Coffin & Burr, Inc. Francis E. Frothingham 1637 SUBCOMMITTEES DISTRIBUTION John K. Starkweather New York Starkweather & Co., Inc. SALESMEN’S COMPENSATION H. Vaughan Clarke Philadelphia II. Vaughan Clarke & Company 1638 MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA ALABAMA Southern Group BIRMINGHAM ♦Courts & Co., Woodward Bldg. ♦Equitable Securities Corp., Webb-Crawford Bldg. ♦King, Mohr & Co., Inc., Webb-Crawford Bldg. Watkins, Morrow & Co., Inc., Woodward Bldg. MOBILE ♦King, Mohr & Co., Inc., Merchants Nat’l Bk. Bldg. MONTGOMERY King, Mohr & Co., Inc., First Nat’l. Bank Bldg. ARIZONA Rocky Mountain Group PHOENIX Hanchett Bond and Investment Co., Security Bldg. Refsnes, Ely, Beck & Co., 112 W. Adams St. ARKANSAS Mississippi Valley Group LITTLE ROCK Walton, Sullivan & Co., 404 Louisiana St. CALIFORNIA California Group BERKELEY ♦Cavalier & Co., Wm., American Trust Bldg. BEVERLY HILLS ♦Batson, Barnes & Lester, 2470 Santa Monica Blvd. ^Gregory & Co., R. N„ California Bank Bldg. i1>rJ'k~Wagenseller & Durst, Bank of America Bldg. ♦Witter & Co., Dean, 9474 Santa Monica Blvd. DEL MONTE ♦Schwabacher & Co., Hotel Del Monte EUREKA ♦Blyth & Co., Inc., 330 “E” St. FRESNO ♦Witter & Co., Dean, Patterson Bldg. HOLLYWOOD ♦Battson, Barnes & Lester, 6253 Hollywood Blvd. LONG BEACH ♦Banks, Huntley & Company, Security Bldg. Richards & Hill, Farmers & Merchants Bldg. ♦CroweH, Weedon & Co., Farmers & Merchants Bldg. *Douglass & Co., Nelson, Farmers & Merchants Bldg. ♦Griffith-Wagenseller & Durst, Security Bldg ♦Harris & Co., F. E., Heartwell Bldg. ♦Mitchum, Tully & Co., Hartwell Bldg. ♦Pacific Company of California, Security Bldg LOS ANGELES ♦Anglo California National Bank of San Francisco, 4 he, 215 W. Sixth St. ♦Baker & Co., H. R„ 650 S. Grand Ave. ♦Bankamerica Company, 650 S. Spring St Banks, Huntley & Company, 634 S. Spring St Bateman, Eichler & Co., 453 S. Spring St Battson, Barnes & Lester, 621 S. Spring St' Bayly Brothers, Inc. of California, Roosevelt Bldg Bennett Richards & Hill, 621 S. Spring St ♦Blyth & Co., Inc., 215 W. Sixth St. Boothe, Gillette & Co., 634 So. Spring St Brashears & Company, G„ 510 S. Spring St. ♦Brown Harriman & Co., Inc., 523 W. Sixth St. ♦Bullock, Calvin, 634 S. Spring St. California Bank, 629 S. Spring St Cass Associates, Quincy, 530 W. Sixth St. ♦Cavalier & Co., Wm., 523 W. Sixth St. Cavanaugh, Morgan & Co., 634 S. Spring St. Citizens National Trust & Savings Bank, 457 S. Spring St. ♦Conrad, Bruce & Co., 634 S. Spring St. Crowell, Weedon & Co., 650 S. Spring St Douglass & Co., Nelson, 210 W. Seventh St. Dulin & Co., 629 S. Spring St. Edgerton, Riley & Walter, 621 S. Spring St. ♦First Boston Corporation, The, 215 W. Sixth St. Gregory & Co., R. N„ 210 W. Seventh St. Griffith-Wagenseller & Durst, 626 S. Spring St. ♦Hammons & Co., Incorporated of California, 634 S. Spring St. (Branch of Hammons & Co., Inc., New York) Harris & Co., F. E., 650 S. Spring St. Hill Reed & Co., 621 S. Spring St. ♦Hogle & Co., J. A., 532 W. Sixth St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lewis & Company, M. H„ 453 S. Spring St. Luxford & Co., 530 W. Sixth St. Martin & Company, James R., 647 S. Spring St. ♦Massachusetts Distributors, Inc., 621 S. Spring St. Miller & Co., Revel, 650 S. Spring St. ♦Mitchum, Tully & Co., 650 S. Spring St. Moulton & Company, R. H., 510 S. Spring St. Pacific Company of California, 623 S. Hope St. Page, Hubbard & Asche, 210 W. Seventh St. Rath Company, Howard G., 523 W. Sixth St. ♦Robinson & Co., B. B., 639 S. Spring St. ♦Rogers & Company, Inc., Hartley, 210 W. Seventh St. ♦Rollins & Sons, Inc., E. H., California Bank Bldg. ♦Schwabacher & Co., 643 S. Spring St. Security-First National Bank of Los Angeles, 561 S. Spring St. Shaw, Glover & Co., 621 S. Spring St. Staats Co., William R., 640 S. Spring St. Stern, Frank & Meyer, Union Bank Bldg. Union Bank & Trust Co., 760 S. Hill St. ♦Weeden & Co., 650 S. Spring St. ♦Witter & Co., Dean, 632 S. Spring St. OAKLAND ♦American Trust Company, 14th St. & Broadway ♦Baker & Co., H. R., Central Bank Bldg. ♦Bennett Richards & Hill, Bank of America Bldg. ♦Blyth & Co., Inc., Central Bank Bldg. ♦Brush, Slocumb & Co., 1212 Broadway ♦Cavalier & Co., Wm., 417 Fourteenth St. ♦Schwabacher & Co., Central Bank Bldg. ♦Witter & Co., Dean. 409 Fourteenth St. ♦Wulff, Hansen & Co., Central Bank Bldg. ONTARIO ♦Lewis & Company, M. H., 112 West C St. PASADENA ♦Bateman, Eichler & Co., 42 N. Garfield Ave. ♦Bennett Richards & Hill, Citizens Savings Bldg. ♦Blyth & Co., Inc., 14 N. Marengo Ave. ♦Brashears & Company, G., 595 Colorado Ave. ♦Douglass & Co., Nelson, 341 E. Green St. ♦Dulin & Co., 387 E. Green St. ♦Gregory & Co., R. N., 379 E. Green St. ♦Griffith-Wagenseller & Durst, First Trust Bldg. ♦Martin & Company, James R., 53 S. Euclid Ave. Miller & Co., Inc., Geo. R., 81 S. Euclid Ave. Pasadena Corporation, 117 E. Colorado St. ♦Rollins & Sons, Inc., E. H„ 385 E. Green St. ♦Staats Co., William R., 311 E. Colorado St. RIVERSIDE ♦Battson, Barnes & Lester, Citizens National Bldg. ♦Pacific Company of California, 3695 Market St. SACRAMENTO ♦Baker & Co., H. R., California State Life Bldg. ♦Blyth & Co., Inc., California State Life Bldg. ♦Cavalier & Co, Wm., 1111 Ninth St. ♦Conrad, Bruce & Co., Capital National Bank Bldg. ♦Mitchum, Tully & Co., California Western States Life Bldg. ♦Witter & Co., Dean, 1014 Eighth St. ♦Wulff, Hansen & Co., Forum Bldg. SAN BERNARDINO ♦Crowell, Weedon & Co., Andreson Bldg. ♦Martin & Company, Jas. R., Andreson Bldg. SAN DIEGO ♦Bankamerica Company, 625 Broadway ♦Banks, Huntley & Company, S. D. Trust & Savings Bldg. ♦Bennett Richards & Hill, Bank of America Bldg. ♦Brashears & Company, G., 530 Broadway ♦Dulin & Co., First National Bldg. ♦Griffith-Wagenseller & Durst, First National Bldg. ♦Luxford & Co., S. D. Trust & Savings Bldg. ♦Martin & Company, James R., 530 Broadway ♦Pacific Company of California, S. D. Trust & Savings Bldg. ♦Rollins & Sons, Inc., E. H., Bank of America Bldg. SAN FRANCISCO ♦Allyn and Company, Inc., A. C., Russ Bldg. American Trust Company, 464 California St. Anglo California National Bank of San Francisco, The, 1 Sansome St. Baker & Co., H. R., Russ Bldg. Bankamerica Company, 485 California St. ♦Bennett Richards & Hill, 79 Post St. Blyth & Co., Inc., Russ Bldg. ♦Bond & Goodwin, Inc., Russ Bldg. ♦Brown Harriman & Co., Inc., 155 Montgomery St. Brush, Slocumb & Co., Ill Sutter St. Cavalier & Co., Wm., 121 Sutter St. ♦Childs and Company, Inc., C. F., 235 Mont gomery St. Conrad, Bruce & Co., Russ Bldg. Crocker First National Bank, 1 Montgomery St. Davis, Skaggs & Co., 211 Montgomery St. ♦Devine & Co., Inc., C. J., Russ Bldg. ♦Drumheller, Ehrlichman & White, 155 Mont gomery St. Elworthy & Co., Ill Sutter St. Fagan Eastland & Co., 1 Montgomery St. ♦First Boston Corporation, The, Russ Bldg. ♦BRANCH OFFICE Heller, Bruce & Co., Mills Tower ♦Lewis & Company, M. H., 315 Montgomery St. ♦Lobdell & Company, 206 Sansome St. ♦McDonnell & Co., 633 Market St. ♦Miller & Co., Revel, 315 Montgomery St. Mitchum, Tully & Co., 405 Montgomery St. ♦Moulton & Company, R. H., 405 Montgomery St. ♦Pressprich & Co., R. W„ Kohl Bldg. ♦Rogers & Company, Inc., Hartley, Russ Bldg. ♦Rollins & Sons, Inc., E. H., 235 Montgomery St. ♦Salomon Bros. & Hutzler, Russ Bldg. Schwabacher & Co., 600 Market St. ♦Shaw, Glover & Co., Russ Bldg. ♦Staats Co., William R., 155 Montgomery St. Stone & Youngberg, 405 Montgomery St. Weeden & Co., 315 Montgomery St. Wells Fargo Bank & Union Trust Co., 4 Mont gomery St. Witter & Co., Dean, 45 Montgomery St. ♦Wood, Struthers & Co., Russ Bldg. Wulff, Hansen & Co., Russ Bldg. SAN JOSE ♦Baker & Co., H. R., First National Bank Bldg. ♦Bennett Richards & Hill, First National Bank Bldg. SANTA ANA ♦Boothe, Gillette & Co., First National Bank Bldg. ♦Cavalier & Co., Wm., 516 N. Main St. ♦Griffith-Wagenseller & Durst, First National Bank Bldg. ♦Miller & Co., Revel, First National Bank Bldg. SANTA BARBARA ♦Luxford & Co., 4 E. Carrillo St. ♦Schwabacher & Co., 930 State St. SANTA MONICA ♦Griffith-Wagenseller & Durst, 220 Santa Monica Blvd. STOCKTON ♦Witter & Co., Dean, 18 S. Sutter St. VENTURA ♦Luxford & Co., 429 E. Main St. COLORADO Rocky Mountain Group COLORADO SPRINGS Hughes and Company, E. W., Mining Exchange Bldg. ♦Peters, Writer & Christensen, Inc., Mining Exchange Bldg. DENVER Benwell, Oswald F., Colorado NationalBankBldg. Boettcher and Company, Incorporated, 828 Seventeenth St. Bosworth, Chanute, Loughridge & Company, 660 Seventeenth St. Brown & Comapny, Donald F., U. S. National Bldg. Brown, Schlessman, Owen & Company, Security Bldg. Bulkley and Company, R. G., 1660 Stout St. ♦Bullock, Calvin, Colorado National Bank Bldg. Coughlin-McCabe and Company, Security Bldg. Engle, Adams & Company, 650 Seventeenth St. Garrett-Broinfield & Co., Security Bldg. Gray, Inc., Gray B„ First National Bank Bldg. International Trust Company, 625 Seventeenth St. Mullen Investment Company, J. K., 1717 Stout St. ♦Otis & Co., First National Bldg. Peck-Brown & Co., U. S. National Bldg. Peters, Writer & Christensen, Inc., U. S. National Bldg. ♦Rollins & Sons, Inc., E. H., Security Bldg. Sidlo, Simons, Roberts & Co., First National Bldg. Sudler & Co., Amos C., First National Bank Bldg. Sullivan & Company, Security Bldg. Vallery & Co., Inc., Geo. W., Security Bldg. PUEBLO Hutchinson-Frye & Co., Thatcher Bldg. ♦Sullivan & Company, Thatcher Bldg. CONNECTICUT New York Group BRIDGEPORT ♦Hemphill, Noyes & Co., 872 Main St. ♦Kidder & Co., A. M., 215 State St. GREENWICH ♦Reynolds & Co., 45 E. Putnam Ave. HARTFORD ♦Adams & Peck, 18 Asylum St. ♦Bancamerica-Blair Corporation, 36 Pearl St. ♦Bodell & Co., 15 Lewis St. ♦Brown Harriman & Co., Inc., 36 Pearl St. MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA HARTFORD—Continued. ♦Coffin & Burr, Inc., 75 Pearl St. Cooley & Company, 100 Pearl St. ♦Estabrook & Co., 750 Main St. *First Boston Corporation, The, 36 Pearl St. *Foster & Co., Inc., 49 Pearl St. ♦Lazard Freres & Company, Inc., 36 Pearl St. ♦Lee Higginson Corporation, 36 Pearl St. *Murphy & Co., G. M.-P., 75 Pearl St. ♦Paine, Webber & Company, 49 Pearl St. Putnam & Co., 6 Central Row *Seligman & Co., J. & W„ 75 Pearl St. ♦Smith & Co., Edward B., Hartford-Aetna Bldg. Stevenson, Gregory & Co., 56 Pearl St. ♦Stone & Webster and Blodget, Inc., 36 Pearl St. *Tifft Brothers, 125 Pearl St. *Wood, Struthers & Co., Hartford-Connecticut Trust Bldg. Young & Company, Lincoln R., 750 Main St. MERIDEN ♦Kidder & Co., A. M„ 30 Colony St. NEW BRITAIN ♦Putnam & Co., 31 W. Main St. NEW HAVEN *Bear, Stearns & Co., 175 Church St. *Bodell & Co., 177 Church St. *Day & Co., R. L„ 215 Church St. ♦Paine, Webber & Company, 104 Elm St. Scranton & Co., Chas. W., 209 Church St. NEW LONDON ♦Scranton & Co., Chas. W„ 302 State St. STAMFORD ♦Harriman & Keech, 303 Main St. WATERBURY ♦Scranton & Co., Chas. W„ 170 Grand St. DELAWARE Eastern Pennsylvania Group WILMINGTON ♦Cassatt & Co., Incorporated, Equitable Trust Bldg. ♦Clark & Co., E. W„ duPont Bldg. ♦Harriman & Keech, Delaware Trust Bldg. ♦Rollins & Sons, Inc., E. H., Delaware Trust Bldg. DISTRICT OF COLUMBIA Southeastern Group WASHINGTON Auchincloss, Parker & Redpath, 719 Fifteenth St., N. W. ♦Barney & Co., Chas. D., Shoreham Bldg. Booker & Co., Y. E., American Security Bldg. ♦Brown & Sons, Alex., Union Trust Bldg. Brown, Goodwyn & Co., American Security Bldg. ♦Brown Harriman & Co., Inc., 730 Fifteenth St., N. W. ♦Childs and Company, Inc., C. F., Union Trust Bldg. Ferris & Company, Inc., George M., Washington Bldg. ♦First Boston Corporation, The, American Security Bldg. Folger, Nolan & Co., Inc., American Security Bldg. ♦Harriman & Keech, 815 Fifteenth St., N. W. ♦Hemphill, Noyes & Co., Shoreham Bldg. Henderson-Winder Company, Union Trust Bldg. Johnston, Lemon & Co., Southern Bldg. Mackall, William W., Jr., Woodward Bldg. ♦Mackubin, Legg & Company, Woodward Bldg. ♦Murphy & Co., G. M.-P., 1508 H St., N. W. ♦Stein Bros. & Boyce, Woodward Bldg. Waggaman, Brawner & Co., Inc., 1700 Eye St., N. W. Wales & Co., Inc., K. S., 815 Fifteenth St., N. W. FLORIDA Southern Group JACKSONVILLE Biese & Company, A. C., Barnett National Bank Bldg. Childress and Company, Atlantic National Bank Annex ♦Leedy, Wheeler & Co., Barnett National Bank Bldg. McRae & Company, D. F., Barnett National Bank Bldg. MIAMI Morrison & Co., A. B., Congress Bldg. ♦Nuveen & Co., John, Shoreland Arcade ♦Wright & Co., Ed. C., Ingraham Bldg. ORLANDO Leedy, Wheeler & Co., 1 N. Orange Ave. ST. PETERSBURG Wright & Co., Ed. C„ 29 Third St., N. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TAMPA Kuhn, Morgan & Co., First National Bank Bldg. GEORGIA Southern Group ATLANTA ♦Blyth & Co., Inc., Citizens & Southern Bldg. ♦Brown Harriman & Co., Inc., First National Bank Bldg. ♦Childs and Company, Inc., C. F., 134 Peachtree St. Courts & Co., 11 Marietta St., N. W. Equitable Company, The, Trust Company of Georgia Bldg. ♦Equitable Securities Corporation, First National Bank Bldg. Evans & Company, Clement A., First National Bank Bldg. ♦First Boston Corporation, The, First National Bldg. Hilsman & Co., Inc., J. H., Citizens & Southern Bldg. ♦Johnson, Lane, Space & Co., Inc., Citizens & Southern Bldg. Robinson-Humphrey Company, The, RhodesHaverty Bldg. ♦Salomon Bros. & Hutzler, First National Bldg. ♦Starkweather & Co., Inc., First National Bldg. Trust Company of Georgia, 15 N. Pryor St., N. E. AUGUSTA ♦Johnson, Lane, Space & Co., Inc., Herald Bldg. MACON ♦Trust Company of Georgia, First National Bank Bldg. SAVANNAH Johnson, Lane, Space & Co., Inc., 101 E. Bay St. ♦Trust Company of Georgia, Liberty National Bank Bldg. IDAHO Pacific Northwest Group BOISE Sudler, Wegener & Co., Inc., First National Bldg. ILLINOIS Central States Group ALTON ♦Francis, Bro. & Co., First National Bank Bldg. AURORA Wortman & Co., G. R., Merchants National Bank Bldg. BELLEVILLE ♦Wade & Co., Festus J., Jr., 22 Public Sq. CHICAGO Allyn and Company, Inc., A. C., 100 W. Monroe St. Ames, Emerich & Co., Inc., 105 S. La Salle St. Babcock, Rushton & Company 135 S. La Salle St. Bacon, Whipple & Co., 135 S. La Salle St. Baker, Fentress & Company, 208 S. La Salle St. Baker, Walsh & Company, 29 S. La Salle St. Bailman & Main, 105 W. Adams St. ♦Bancamerica-Blair Corporation, 135 S. La Salle St. ♦Bankers Trust Company, 105 S. La Salle St. Barcus, Kindred & Co., 231 S. La Salle St. ♦Barr Brothers & Co., Inc., 135 S. La Salle St. Bartlett, Knight & Co., 105 W. Adams St. Becker & Co., A. G., 100 S. La Salle St. ♦Bennett Bros. & Johnson, 135 S. La Salle St. Blair, Bonner & Company, 135 S. La Salle St. ♦Blake Brothers & Company, 200 S. La Salle St. ♦Blyth & Co., Inc., 135 S. La Salle St. ♦Boettcher and Company, Incorporated, 135 S. La Salle St. ♦Bond & Goodwin Incorporated of Illinois, 209 S. La Salle St. (Branch of Bond & Goodwin, Inc., Boston) ♦Braun, Bosworth & Company, 39 S. La Salle St. Brewer & Company, Inc., F. A., 208 S. La Salle St. ♦Brown-Crummer Investment Company, 38 S. Dearborn St. ♦Brown Harriman & Co., Inc., 135 S. La Salle St. ♦Bullock, Calvin, 120 S. La Salle St. ♦Burnett, E. M., Middle West Representative, The Anglo California National Bank of San Fran cisco, 231 S. La Salle St. ♦Burr & Company, Inc., 209 S La Salle St. Byllesby and Company, H. M., 231 S. La Salle St. Central Republic Company, 134 S. La Salle St. Channer Securities Company, 39 S. La Salle St. Childs and Company, Inc., C. F., 141 W. Jackson Blvd. City National Bank and Trust Company of Chicago, 208 S. La Salle St. Clark, Inc., John W., 141 W. Jackson Blvd. Cleveland & Company, Inc., Paul W„ 120 S. La Salle St. Continental Illinois National Bank and Trust Company of Chicago, 231 S. La Salle St. ♦BRANCH OFFICE 1639 ♦Dain & Company, J. M., Board of Trade Bldg. Dangler, Lapham & Co., Ill W. Monroe St. Davis & Co., Paul H., 10 S. La Salle St. Dempsey-Detmer & Co., 135 S. La Salle St. ♦Devine & Co., Inc., C. J., 135 S. La Salle St. ♦Dickson & Company, R. S., 135 S. La Salle St. ♦Dominion Securities.Corporation, 120 S. La Salle St. Dunbar & Company, John B., 135 S. La Salle St. Enyart, Van Camp & Fell, Inc., 39 S. La Salle St. Ericson, Nichols & Robbins, Inc., 209 S. La Salle St. Farwell, Chapman & Co., 208 S. La Salle St. ♦First Boston Corporation, The, 231 S. La Salle St. First National Bank of Chicago, 33 S. Clark St. ♦First of Michigan Corporation ,135 S. La Salle St. Fuller, Cruttenden & Company, 120 S. La Salle St. Gibson & Co., W. C„ 231 S. La Salle St. ♦Glore, Forgan & Co., 123 S. La Salle St. ♦Goldman, Sachs & Co., 208 S. La Salle St. ♦Hallgarten & Co., 120 S. La Salle St. ♦Hammons & Co., Incorporated of Illinois, 231 S. La Salle St. Harris, Hall & Company, 111 W. Monroe St. Harris Trust and Savings Bank, 115 W. Monroe St. Harrison, O’Gara & Co., 209 S. La Salle St. Haskell, Scott & Jennings, Inc., 120 S. La Salle St. ♦Hemphill, Noyes & Co., Board of Trade Bldg. Hickey, Doyle & Co., 39 S. La Salle St. ♦Hornblower & Weeks, 39 S. La Salle St. Huyck and Company, A. S„ 100 W. Monroe St. Illinois Company of Chicago, 231 S. La Salle St. ♦Jackson & Curtis, 231 S. La Salle St. Joiner & Co., Inc., T. E„ 208 S. La Salle St. Kelley, Richardson & Co., Inc., 135 S. La Salle St. Kerfoot, Leggett & Company, 141 W. Jackson Blvd. Konsberg & Company, 53 W. Jackson Blvd. ♦Lazard Freres & Company, Inc., 135 S. LaSalle St. ♦Lee Higginson Corporation, 141W. Jackson Blvd. ♦Lehman Brothers, 231 S. La Salle St. Lewis, Pickett & Co., Inc., 105 W. Adams St. Lobdell & Company, Edwin L., 209 S. La Salle St. ♦Massachusetts Distributors, Inc., 120 S. La Salle St. Mather & Company, Inc., Morris, Board of Trade Bldg. Mathews, Dahlin & Co., 135 S. La Salle St. McGhie & Co., George, 105 S. La Salle St. McGowen, Cassady & White, Inc., 135 S. La Salle St. McGraw & Company, 120 S. La Salle St. McMaster Hutchinson & Co., 105 S. La Salle St. McNear & Company, C. W., 105 W. Adams St. ♦Mercantile-Commerce Bank and Trust Company, 135 S. La Salle St. ♦Mericka & Co., Inc., Wm. J., 135 S. La Salle St. ♦Milwaukee Company, The, 135 S. La Salle St. Mitchell, Hutchins & Co., 231 S. La Salle St. ♦Moseley & Co., F. S„ 135 S. La Salle St. ♦Nelson, Browning & Company, 135 S. La Salle St. Nichols, Terry & Dickinson, Inc., 141 W. Jackson Blvd. Northern Trust Company, 50 S. La Salle St. Nuveen & Co., John, 135 S. La Salle St. ♦Ohrstrom & Co., Inc., G. L., 141 W. Jackson Blvd. ♦Otis & Co., 105 W. Adams St. ♦Paine, Webber & Company, 209 S. La Salle St. ♦Pressprich & Co., R. W., 135 S. La Salle St. ♦Riter & Co., 134 S. La Salle St. Robinson & Co., B. B., 39 S. La Salle St. ♦Rogers & Company, Inc., Hartley, 105 S. La Salle St. Rogers & Tracy, Inc., 120 S. La Salle St. ♦Rollins & Sons, Inc., E. H„ 231 S. La Salle St. Ross & Company, Thompson, 29 S. La Salle St. ♦Salomon Bros. & Hutzler, 231 S. La Salle St. Seerley & Co., Inc., John J., 105 S. La Salle St. Selected Investments Company, 135 S. LaSalle St. ♦Seligman & Co., J. & W„ 135 So. La Salle St. ♦Shields & Company, 135 S. La Salle St. Showers, Robert, 10 S. La Salle St. Sills, Troxell & Minton, Inc., 209 S. La Salle St. ♦Smith & Co., Inc., Edward B., 105 W. Adams St. (Branch of Edward B. Smith, & Co., New York) Speer & Sons Company, H. C., 38 S. Dearborn St. Stern and Company, Incorporated, Lawrence, 231 S. La Salle St. ♦Stifel, Nicolaus & Co., Inc., 105 W. Adams St. Stokes, Woolf & Co., Inc., 105 S. La Salle St. ♦Stone & Webster and Blodget, Inc., 33 S. Clark St. ♦Stranahan, Harris & Company, Inc., 135 S. La Salle St. Straus Securities Corporation, 135 S. La Salle St. ♦Taussig, Day & Company, Inc., 208 S. La Salle St. Webber, Darch & Company, 208 S. La Salle St. Webber-Simpson & Company, 105 W. Adams St. Welsh and Green, Incorporated, 135 S. LaSalle St. ♦White-Phillips Company, Inc., The, 39 S. La Salle St. (Branch of White-Phillips Corporation, Daven port) Winthrop, Mitchell & Co., 141 W. Jackson Blvd. Wittbold & Co., John, 10 S. La Salle St. ♦Wood & Company, Harold E., 135 S. La Salle St. ♦Wright & Co., Ed. C., Board of Trade Bldg. Yantis & Co., Incorporated, F. S., 120 S. La Salle St. MONMOUTH Moffat & Co., Inc., D. W., Woods Bldg. PEORIA ♦Allyn and Company, Inc., A. C. Jefferson Bldg. ♦Dempsey-Detmer & Co., Lehman Bldg. Rogers and Company, Inc., N. L„ 416 Main St. ♦Seerley & Company, Inc., John J. Alliance Life Bldg. ♦Shields & Company, Central National Bank Bldg. 1640 MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA ROCKFORD ♦Shields & Company, Talcott Bldg. SPRINGFIELD Dixon-Bretscher Company, Inc., The, First National Bank Bldg. Fernandes & Company, Monroe at Fifth 8t. INDIANA Central States Group FORT WAYNE Central Securities Corporation, 126 E. Berry St. INDIANAPOLIS ♦Becker & Co., A. G., Circle Tower ♦Blyth & Co., Inc., Circle Tower ♦Brown Harriman & Co., Inc., Fletcher Trust Bldg. ♦Davis & Co., Paul H., Circle Tower ug ♦Hemphill, Noyes & Co., Fletcher Trust Bldg. Indianapolis Bond and Share Corporation, 129 E. Ai^rkot St ♦Moseley & Co., F. S., Circle Tower ♦Straus Securities Corporation, Circle Tower. SOUTH BEND Harrison & Austin, Inc., Citizens Bank Bldg. McGann Securities Company, Inc., Albert, 111 W. Washington Ave. IOWA Central States Group BURLINGTON Hanna and Company, W. D., Main and Jefferson Sts. CEDAR RAPIDS ♦Hanna and Company, W. D., Merchants National Bank Bldg. McIntyre & Co., Scott, 300 Second Ave., S. E. ♦Priester, Quail & Co., Merchants National Bank Bldg. ♦Wood & Company, Harold E„ 512 Second Ave., S. E. DAVENPORT Priester, Quail & Co., Davenport Bank Bldg. Vieth, Duncan, Worley & Wood, Davenport Bank Bldg. White-Phillips Corporation, First National Bldg. DES MOINES ♦Allyn and Company, Inc., A. C. 104 S. W. 42nd St. ♦Babcock, Rushton & Company, Fleming Bldg. ♦Brown-Crummer Investment Company, The, Equitable Bldg. Central National Bank and Trust Company, 314 Fifth St. ♦Hanna and Company, W. D., Equitable Bldg. Iowa-Des Moines National Bank & Trust Com pany, Sixth and Walnut Sts. Jackley & Company, Equitable Bldg. Polk-Peterson Corporation, Des Moines Bldg. ♦Priester, Quail & Co., Equitable Bldg. ♦Seerley & Company, Inc., John J., Des Moines Bldg. ♦White-Phillips Corporation, Iowa-Des Moines National Bldg. IOWA CITY ♦McIntyre & Co., Scott, Johnson County Bank Bldg. WATERLOO ♦Allyn and Company, Inc., A. C., Waterloo Bldg. ♦Hanna and Company, W. D., Pioneer Bldg. ♦Polk-Peterson Corporation, Commercial Bldg. KANSAS Southwestern Group KANSAS CITY Commercial National Bank, 601 Minnesota Ave. TOPEKA Estes, Payne & Co., National Bank of Topeka Bldg. Gourley Company, M. B., National Bank of Topeka Bldg. WICHITA Branch Investment Company, The Vernon H., Brown Bldg. Brown-Crummer Investment Company, The, Schweiter Bldg. Dunne-Israel Co., The, Schweiter Bldg. Lathrop-Hawk-Herrick Company, Inc., First National Bank Bldg. Ranson-Davidson Investment Company, The, Beacon Bldg. Small-Milburn Company, The, Wheeler-KeliyHagny Bldg. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis KENTUCKY MASSACHUSETTS Ohio Valley Group New England Group LEXINGTON ♦Hutton & Company, W. E., Hernando Bldg. Van Hooser & Company, J. D., 261 W. Short St. BOSTON ♦Adams & Peck, 35 Congress St. ♦Adams, Mudge & Co., Ill Devonshire St. ♦Allyn and Company of New England, Inc., A. C„ 30 Federal St. LOUISVILLE Almsted Brothers, 425 W. Market St. Bankers Bond Co., Inc., The, Fourth and Market Sts. ♦Blyth & Co., Inc., Kentucky Home Life Bldg. Hilliard & Son, J. J. B., 419 W. Jefferson St. ♦Reynolds & Co., Heyburn Bldg. ♦Stein Bros. & Boyce, Starks Arcade Bldg. Willson & Co., James C„ 130 S. Fifth St. LOUISIANA Southern Group NEW ORLEANS Anagnosti & Walker, Inc., Whitney Bank Bldg. Dane & Weil, Inc., Canal Bank Bldg. Lamar, Kingston & Labouisse, Canal Bank Bldg. Levy & Rooney, Inc., Whitney Bank Bldg. Moore and Hymans, 610 Common St. National Bank of Commerce in New Orleans, The, Baronne & Common Sts. Newman, Harris & Co., Maritime Bldg. Nusloch, Baudean & Smith, Inc., Hibernia Bank Bldg. Saunders Company, Inc., P. H., American Bank Bldg. Vass & Co., Inc., Lachlan M., Whitney Bank Bldg. Weil & Company, Inc., Union Bldg., Arcade Whitney National Bank of New Orleans, St. Charles & Gravier Sts. SHREVEPORT Barrow, Leary & Co., Inc., 515 Market St. MAINE New England Group AUBURN Morton Company, Philip H., 109 Davis Ave. PORTLAND ♦Baldwin & Company, Chapman Bldg. ♦Bond & Goodwin, Inc., 120 Exchange St. ♦Brown Harriman & Co., Inc., 465 Congress St. ♦Coffin & Burr, Inc., 120 Exchange St. Gilman & Co., Inc., Charles H., 186 Middle St. ♦Hayden, Stone & Co., 477 Congress St. ♦Hornblower & Weeks, 83 Exchange St. Maine Securities Company, Fidelity Bldg. Payson & Co., H. M., 93 Exchange St. ♦Putnam & Company, Inc., F. L., 97 Exchange St. ♦Rollins & Sons, Inc., E. H., Fidelity Bldg. Rounds Co., Harry A., 184 Middle St. State Investment Company, The, Fidelity Bldg. MARYLAND Southeastern Group Branch of A. C. Allyn and Company, Inc., Chicago. ♦Ames & Co., Inc., A. E., 50 Congress St. Baker & Company, Inc., B. J., 209 Washington St. Baker, Young & Company, Inc., 209 Washington St. Baldwin & Company, 30 Federal St. Ballou, Adams & Whittemore, Inc., 49 Federal St. ♦Bancamerica-Blair Corporation, 75 Federal St. ♦Bankers Trust Company, 10 Post Office Sq. ♦Battles & Company, Inc., 75 Federal St. ♦Blake Brothers & Company, 111 Devonshire St. ♦Blyth & Co., Inc., Ill Devonshire St. ♦Bodell & Co., 35 Congress St. Bond & Goodwin, Inc., 30 Federal St. ♦Brown Harriman & Co., Inc., 10 Post Office Sq. ♦Bullock, Calvin, 68 Devonshire St. Burgess & Leith, 75 Federal St. ♦Burr & Company, Inc., 35 Congress St. Burr, Gannett & Co., 53 State St. ♦Cassatt & Co., Incorporated 1 Federal St. ♦Childs and Company, Inc., C. F., 82 Devonshire St. ♦Clark, Dodge & Co., 70 Federal St. Coffin & Burr, Inc., 60 State St. Collins, Breed & Co., 82 Devonshire St. Conant & Co., Inc., A. B., 84 State St. Day & Co., R. L„ 45 Milk St. ♦Devine & Co., Inc., C. J., 75 Federal St. ♦Dick & Merle-Smith, 30 State St. Estabrook & Co., 15 State St. Faxon, Gade & Co., Inc., 100 Milk St. ♦First Boston Corporation, The, 1 Federal St. ♦Foster & Co., Inc., 82 Devonshire St. ♦Goldman, Sachs & Co., 75 Federal St. ♦Graham, Parsons & Co., 10 Post Office Sq. Hale, Waters & Company, Inc., 199 Washington St. ♦Hayden, Stone & Co., 75 Federal St. Hornblower & Weeks, 60 Congress St. ♦Hutton & Company, W. E., 75 Federal St. Jackson & Curtis, 10 Post Office Sq. ♦Kidder, Peabody & Co., 115 Devonshire St. ♦Lazard Freres & Company, Inc., 75 Federal St. ♦Lee Higginson Corporation, 50 Federal St. Lyons & Company, 75 Federal St. Massachusetts Distributors, Inc., 85 Devonshire St. Moors & Cabot, 111 Devonshire St. Moseley & Co., F. S., 50 Congress St. ♦Murphy & Co., G. M.-P., 50 Congress St. Newton, Abbe & Company, 60 Federal St. ♦Ohrstrom & Co., Inc., G. L., 75 Federal St. Paine, Webber & Company, 82 Devonshire St. Parker Corporation, The, 1 Court St. ♦Paul & Co., Inc., 50 Congress St. Perry & Co., Inc., Arthur, 31 Milk St. Preston, Moss & Company, 111 Devonshire St. Putnam & Company, Inc., F. L., 159 Devonshire St. ♦Riter, & Co., 24 Federal St. ♦Rollins & Sons, Inc., E. H., 200 Devonshire St. ♦Rothschild & Co., L. F., 30 State St. ♦Salomon Bros. & Hutzler, 75 Federal St. ♦Schoellkopf, Hutton & Pomeroy, Inc., 75 Federal St. ♦Seligman & Co., J. & W., 49 Federal St. ♦Shields & Company, 82 Devonshire St. ♦Smith & Co., Edward B., Ill Devonshire St. ♦Stone & Webster and Blodget, Inc., 49 Federal St. Studley, Shupert & Co., 50 Congress St. Thornton & Curtis, 24 Federal St. ♦Tifft Brothers, 50 Congress St. ♦Trask & Co., Spencer, 50 Congress St. Tucker, Anthony & Co., 74 State St. Tyler, Buttrick & Co., Inc., 75 Federal St. Wainwright & Co., H. C., 60 State St. Washburn & Company, Inc., 24 Federal St. ♦Watson & Co., Inc., Eli T„ 75 Federal St. ♦Watson & White, 10 Post Office Sq. ♦White, Weld & Co., Ill Devonshire St. Whiting, Weeks & Knowles, Inc., 36 Federal St. Whitney & Elwell, 30 State St. Wood Company, Arthur W., 19 Congress St. BALTIMORE Allen & Company, Edward D., Keyser Bldg. ♦Auchincioss, Parker & Redpath, Mercantile Trust Bldg. Baker, Watts & Co., Calvert & Redwood Sts. ♦Bankers Trust Company, Maryland Trust Bldg. ♦Barney & Co., Chas. D., Ill E. Redwood St. Brown & Sons, Alex, 135 East Baltimore St. Cahn & Company, Frank B., Equitable Bldg. Daly & Co., Owen, 23 South St. Equitable Trust Company, The, Calvert & Fay ette Sts. ♦First Boston Corporation, The, First National Bldg. Garrett & Sons, Robert, South & Redwood Sts. ♦Herrick, Heinzelmann & Ripley, Inc., Mercantile Trust Bldg. ♦Hutton & Company, W. E., First National Bank Bldg. Jones, Schaefer & Company, First National Bldg. ♦Kidder, Peabody & Co., Mercantile Bank Bldg. Lanahan & Co., W. W., Calvert Bldg. Mackubin, Legg & Company, 222 E. Redwood St. Marburg, Price & Co., Keyser Bldg. Maryland Trust Company, Calvert & Redwood Sts. Mead, Irvine & Co., First National Bank Bldg. Mercantile Trust Company of Baltimore, Calvert, Redwood & Baltimore Sts. ♦Murphy & Co., G. M.-P, Calvert Bldg. ♦Pierce & Co., Frederick, First National Bldg. Shriver & Co., Inc., George G., Mercantile Trust Bldg. ♦Starkweather & Co., Inc., Keyser Bldg. Stein Bros. & Boyce, 6 S. Calvert St. Strother, Brogden & Co., 20 S. Calvert St. Trail & Middendorf, Inc., Keyser Bldg. Williams & Company, Inc., C. T., Fidelity Bldg. NEW BEDFORD ♦Kidder, Peabody & Co., First National Bldg. ♦Studley, Shupert & Co., First National Bldg. ♦Tucker, Anthony & Co., 555 Pleasant St. HAGERSTOWN ♦Stein Bros. & Boyce, 116 W. Washington St. PITTSFIELD ♦Murphy & Co., G. M.-P., 28 North St. ♦Tifft Brothers, 100 North St. ♦BRANCH OFFICE CAMBRIDGE ♦Jackson & Curtis, Harvard Sq. LOWELL ♦Kidder, Peabody & Co., 9 Central St. LYNN ♦Jackson & Curtis, 23 Central Ave. MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA SPRINGFIELD *Day & Co., R. L., Third National Bank Bldg. *Estabrook & Co., 1387 Main St. ♦First Boston Corporation, The, Third National Bank Bldg. ♦Hayden, Stone & Co., 1387 Main St. ♦Jackson & Curtis, 1387 Main St. ♦Kidder, Peabody & Co., 1391 Main St. ♦Paine, Webber & Company, Third National Bank Bldg. ♦Putnam & Company, Inc., F. L„ Third National Bank Bldg. ♦Rollins & Sons, Inc., E. H„ 1387 Main St. Tifft Brothers, 1387 Main St. WORCESTER Adams, Mudge & Co., 340 Main St. ♦Baldwin & Company, State Mutual Bldg. ♦First Boston Corporation, The, State Mutual Bldg. ♦Jackson & Curtis, 340 Main St. ♦Lee Higginson Corporation, 16 Norwich St. ♦Paine, Webber & Company, State Mutual Bldg. ♦Tifft Brothers, 332 Main St. ♦Trask & Co., Spencer, 340 Main St. ♦Whiting, Weeks & Knowles, Inc., Slater Bldg. ♦Wood, Struthers & Co., State Mutual Bldg. JACKSON ♦Alison & Company, Jackson City Bank Bldg. ♦Dominick & Dominick, 120 W. Michigan Ave. Michigan Group ANN ARBOR ♦Watling, Lerchen & Hayes, Ann Arbor Trust Bldg. BATTLE CREEK ♦Ross & Company, Thompson, City Bank Bldg. DETROIT Alison & Company, 535 Griswold St. ♦Allyn and Company, Inc., A. C., Buhl Bldg. Baker, Simonds & Co., Buhl Bldg. ♦Bancamerica-Blair Corporation, Buhl Bldg. ♦Bankers Trust Company, Buhl Bldg. ♦Blyth & Co., Inc., Buhl Bldg. ♦Braun, Bosworth & Company, Union Guardian Bldg. ♦Brown Harriman & Co., Inc., First National Bldg. Campbell, McCarty & Company, Inc., Buhl Bldg. Carey & Co., Matthew, Union Guardian Bldg. Clayton and Company, Fidelity Bldg. Cray, McFawn & Company, Fidelity Bldg. Crouse & Company, Penobscot Bldg. ♦Dominick & Dominick, 601 Griswold St. Field, McDonald & Company, Buhl Bldg. First of Michigan Corporation, Buhl Bldg. Grier & Co., Inc., John C., Buhl Bldg. ♦Hemphill, Noyes & Co., Union Guardian Bldg. Higbie Corporation, Carlton M., Buhl Bldg. ♦Hornblower & Weeks, Penobscot Bldg. ♦Hutton & Company, W. E., Fisher Bldg. Keane & Company, 645 Griswold St. Livingstone & Co., S. R., Penobscot Bldg. Martin, Smith & Company, Inc., Union Guardian Bldg. McDonald, Moore & Hayes, Inc., Penobscot Bldg. O’Donnell and Company, R. C., Penobscot Bldg. ♦Paine, Webber & Company, Penobscot Bldg. Parcells & Co., Charles A., Penobscot Bldg. Peter, Lander & Co., Inc., Buhl Bldg. Rollins & Sons, Inc., E. II., National Bank Bldg. Sattley & Company, Inc., H. V., Hammond Bldg. ♦Selected Investments Company, Penobscot Bldg. Shannon, Kenower & Company, Inc., Penobscot Bldg. ♦Sills, Troxell & Minton, Inc., Penobscot Bldg. Small & Co., Sidney R., Penobscot Bldg. ♦Stifel, Nicolaus & Co., Inc., Union Guardian Bldg. ♦Stranahan, Harris & Company, Inc., Buhl Bldg. ♦Straus Securities Corporation, Union Guardian Bldg. Watkins & Fordon, Inc., Penobscot Bldg. Watling, Lerchen & Hayes, Buhl Bldg. Wedthoff & Co., Guy G., Penosbcot Bldg. Weed, Hall & Company, Ford Bldg. Whitlock, Smith & Co., Penobscot Bldg. ♦Wilmerding & Co., Penobscot Bldg. FLINT ♦Allyn and Company, Inc., A. C., Genesee Bank Bldg. GRAND RAPIDS ♦Crouse & Company, Michigan Trust Bldg. Kusterer & Company, A. E., Michigan Trust Bldg. ♦McDonald, Moore & Hayes, Inc., Grand Rapids Trust Bldg. ♦Paine, Webber & Company, Peoples National Bank Bldg. Petter & Company, J. H., Michigan Trust Bldg. ♦Rollins & Sons, Inc., E. H., 60 Monroe Ave. ♦Ross & Company, Thompson, Grand Rapids Trust Bldg. LANSING ♦Hutton & Company, W. E., 121 W. Michigan Ave. MARQUETTE ♦Ross & Company, Thompson, Harlow Block. SAGINAW ♦Ross & Company, Thompson, Second National Bank Bldg. MINNESOTA DULUTH First and American National Bank of Duluth, 231 W. Superior St. Northern National Bank of Duluth, 304 W. Superior St. ♦Paine, Webber & Co., Medical Arts Bldg. ♦Wells-Dickey Co., Alworth Bldg. MINNEAPOLIS Allison-Williams Company, Northwestern Bank Bldg. Angland & Company, Incorporated, Rand Tower. ♦Becker & Co., A. G., First National-Soo Line Bldg. Bigelow, Webb & Co., Incorporated, First National-Soo Line Bldg. ♦Blyth & Co., Inc., Rand Tower ♦Brown Harriman & Co., Inc., Northwestern Bank Bldg. ♦Byllesby and Company, H. M„ Rand Tower ♦Central Republic Company, Rand Tower Dain & Company, J. M., Rand Tower ♦First Boston Corporation, The, Northwestern Bank Bldg. First National Bank and Trust Company, 115 S. Fifth St. Fuller Company, Charles A., Northwestern Bank Bldg. Jones Co., Geo. C„ Northwestern Bank Bldg. ♦Kalman & Company, McKnight Bldg. Lowe Company, Justus F., First National-Soo Line Bldg. Needham & Company, Inc., Rand Tower Nelson Company, Guy A., Baker Bldg. Northwestern National Bank and Trust Company Northwestern Bank Bldg. Overman, Inc., I. H., First National-Soo Line Bldg. ♦Paine, Webber & Company, Rand Tower Piper, Jaffray & Hopwood, 115 S. Seventh St. Rieger & Co., Inc., C. C., First National-Soo Line Bldg. ♦Rollins & Sons, Inc., E. H., Northwestern Bank Bldg. ♦Salomon Bros. & Hutzler, Rand Tower ♦Seerley & Company, Inc., John J., Roanoke Bldg. ♦Smith & Co., Inc., Edward B., Northwestern Bank Bldg. Thrall West Company, Northwestern Bank Bldg. Wells-Dickey Co., McKnight Bldg. Wittenberg Merrick Company, Northwestern Bank Bldg. ♦Wood & Company, Harold E., Northwestern Bank Bldg. Woodard-Elwood & Company, Rand Tower ST. PAUL ♦Bigelow, Webb & Co., Incorporated, First National Bldg. ♦Brown-Crummer Investment Company, The, First National Bldg. ♦Central Republic Company, First National Bldg. First National Bank of Saint Paul, Fourth and Minnesota Sts. Gates & Co., Stanley, 345 Robert St. Greenman, McGuire & Driscoll, Inc., First National Bldg. Kalman & Company, 143 E. Fourth St. ♦Kerfoot, Leggett & Company, Pioneer Bldg. Mannheimer-Caldwell, Inc., First National Bldg. ♦Paine, Webber & Company, Pioneer Bldg. ♦Riter & Co., Pioneer Bldg. ♦Wells-Dickey Co., Endicott Bldg. ♦Williams Co., E. C., Pioneer Bldg. Wood & Company, Harold E., First National Bldg. MISSISSIPPI Southern Group HOLLAND ♦Petter & Company, J. H., 61 E. Eighth St. JACKSON Speed Company, Leland,^Merchants Bank Bldg. IRON MOUNTAIN ♦Ross & Company, Thompson, U. S. National Bank Bldg. VICKSBURG First National Bank & Trust Company of Vicks burg, Washington St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MISSOURI KANSAS CITY Southwestern Group KALAMAZOO ♦Petter & Company, J. H., American National Bank Bldg. ♦Ross & Company, Thompson, American National Bank Bldg. Minnesota Group MICHIGAN 1641 ♦BRANCH OFFICE Alexander, McArthur & Company, 922 Baltimore Ave. ♦Allyn and Company, Inc., A. C„ 1012 Baltimore Ave. ♦Bancamerica-Blair Corporation, Finance Bldg. Baum Bernheimer Company, 1016 Baltimore Ave. ♦Blyth & Co., Inc., Boatmen’s Bank Bldg. ♦Brown-Crummer Investment Company, The, 21 W. Tenth St. Callender, Burke & MacDonald, Fidelity Bldg. ♦Childs and Company, Inc., C. F., 15 W. Tenth St. City National Bank and Trust Company, 18th & Grand Ave. Commerce Trust Company, Tenth & Walnut Sts. ♦Estes, Payne & Co., Dwight Bldg. ♦First Boston Corporation, The, 21 W. 10th St. Folsom, Wheeler & Co., 928 Baltimore Ave. ♦Herrick, Heinzelmann & Ripley, Inc., 1012 Baltimore Ave. ♦Mercantile-Commerce Bank and Trust Company, Dwight Bldg. ♦Moseley & Co., F. S„ R. A. Long Bldg. Prescott, Wright, Snider Company, 918 Baltimore Ave. ♦Rollins & Sons, Inc., E. H., Land Bank Bldg. ♦Seerley & Company, Inc., John J., 1006 Balti more Ave. Stern Brothers & Company, 1015 Baltimore Ave. Weltner, Bigelow & Co., Inc., Dwight Bldg. ST. JOSEPH Southwestern Group First Trust Company, The, Fourth & Felix Sts. ♦Seerley & Company, Inc., John J., Schneider Bldg. ST. LOUIS Mississippi Valley Group ♦Bancamerica-Blair Corporation, Boatmen’s Bank Bldg. Bitting & Co., 316 N. Eighth St. Bitting, Jones & Co., Inc., 411 N. Seventh St. ♦Blyth & Co., Inc., Boatmen’s Bank Bldg. Boatmen’s National Bank, The, 300 N. Broadway. Bramman-Schmidt-Busch, Inc., Boatmen’s Bank Bldg. ♦Brown Harriman & Co., Inc., Boatmen’s Bank Bldg. ♦Bullock, Calvin, Security Bldg. ♦Childs and Company, Inc., C. F., 314 N. Broad way. Crago, Hitchcock & Co., Security Bldg. Daly and Craib, Locust at Ninth St. ♦Devine & Co., Inc., C. J., 314 N. Broadway Dietz, Chamberlain & Co., Incorporated, 314 N. Broadway. D’Oench, Duhme & Co., Inc., 315 N. Seventh St. ♦First Boston Corporation, The, 314 N. Broadway First National Company, 323 N. Broadway Francis, Bro. & Co., 222 N. Fourth St. Giger and Company, Inc., 211 N. Fourth St. ♦Goldman, Sachs & Co., Boatmen’s Bank Bldg. Honig Co., Theodore C„ 314 N. Broadway Jones & Co., Edward D„ Boatmen’s Bank Bldg. Kerwin, Fotheringham & Co., Inc., 314 N. Broad way. Mahan & Company, L. E„ 509 Olive St. Mercantile-Commerce Bank and Trust Company, 721 Locust St. Metropolitan St. Louis Company, 718 Locust St. Mississippi Valley Trust Company, Broadway & Olive Sts. ♦Moseley & Co., F. S„ Boatmen’s Bank Bldg. Newhard, Cook & Co., 400 Olive St. Preiss, Wibbing & Co., Security Bldg. Reinholdt & Gardner, 400 Locust St. ♦Rollins & Sons, Inc., E. H., 314 N. Broadway Rubert & Company, Rudolph, 506 Olive St. Ruppert & Company, Inc., H. L„ 400 Pine St. ♦Seerley & Company, Inc., John J., Boatmen’s Bank Bldg. Simon & Co., I. M., 315 N. Fourth St. ♦Smith & Co., Inc., Edward B., Boatmen’s Bank Bldg. Smith, Moore & Co., 509 Olive St. Stifel, Nicolaus & Co., Inc., 314 N. Broadway Stix & Co., 509 Olive St. Taussig, Day & Company, Inc., Boatmen’s Bank Bldg. Theis & Sons, Inc., Albert, 410 Olive St. Wade & Co., Festus J., Jr., 318 N. Eighth St. Walker & Co., G. H„ 503 Locust St. Whitaker & Company, N. E. Cor. Fourth & Olive Sts. NEBRASKA Central States Group LINCOLN ♦Burns, Potter & Company, Stuart Bldg. First Trust Company of Lincoln, The, Tenth & O Sts. ♦Greenway-Raynor Co., Sharp Bldg. ♦Wachob, Bender & Company, Insurance Bldg. OMAHA ♦Allyn and Company, Inc., A. C., Insurance Bldg. ♦Boettcher and Company, Incorporated, Omaha National Bank Bldg. 1642 MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA OMAHA—Continued ♦Brown-Crummer Investment Company, The, Insurance Bldg. Burns, Potter & Company, 202 S. Seventeenth St. *Byllesby and Company, H. M., Farnam Bldg. Greenway-Raynor Co., First National Bank Bldg. Hall and Company, Inc., Ware, First National Bank Bldg. Kirkpatrick-Pettis-Loomis Company, Omaha National Bank Bldg. National Company of Omaha, The, First National Bank Bldg. *Stern Brothers & Company, Insurance Bldg. Wachob, Bender & Company, 212 S. Seventeenth NEW HAMPSHIRE ♦First Boston Corporation, The, Liberty Bank Bldg. ♦Granbery, Salford & Co., Liberty Bank Bldg. Manufacturers and Traders Trust Company, 284 Main St. Marine Trust Company of Buffalo, The, 237 Main St. O’Brian, Potter & Co., Liberty Bank Bldg. ♦Rollins & Sons, Inc., E. H„ 11 Niagara St. Schoellkopf, Hutton & Pomeroy, Inc., 70 Niagara St. ♦Seligman & Co., J. & W., Liberty Bank Bldg. ♦Starkweather & Co., Inc., 800 Ellicott Sq. Wood, Trubee & Co., M & T Bldg. CORTLAND ♦Glidden, Morris & Co., Savings Bank Bldg. New England Group CONCORD *Paine, Webber & Company, 3 Capitol St. ♦Rollins & Sons, Inc., E. H., 3 No. State St. MANCHESTER ♦Rollins & Sons, Inc., E. H., Amoskeag Bank Bldg. ELMIRA ♦Treman & Co., Arthur B., 125 Lake St. GLENS FALLS ♦Trask & Co., Spencer, Queensbury Hotel ASBURY PARK ♦McDonnell & Co., Berkeley Carteret Hotel ITHACA Treman & Co., Arthur B„ First National Bank Bldg. NEWBURGH ♦Shields & Company, Academy of Music Bldg. EAST ORANGE ♦Reynolds & Co., 22 Prospect St. NEW ROCHELLE ♦Shields & Company, 271 North Ave. JERSEY CITY Bullock, Calvin, 921 Bergen Ave. ♦Distributors Group, Incorporated, 1 Exchange PI. ♦Hoit, Rose & Troster, 15 Exchange PI. ♦Lord, Abbett & Co., Inc., 1 Exchange PI. ♦Massachusetts Distributors, Inc., 15 Exchange PI. Outwater & Wells, 15 Exchange PI. Reybarn Company, Inc., The., 15 Exchange PI. NEW YORK CITY Adams & Peck, 63 Wall St. Adams, McEntee & Co., Inc., 40 Wall St. Aidred & Co., 40 Wall St. Allen & Company, H. L., 100 Broadway ♦Allyn and Company, Inc., A. C., 40 Wall St. ♦Ames & Co., Inc., A. E., 120 Broadway NEW JERSEY New York Group MORRISTOWN ♦Reynolds & Co., Park Square Bldg. NEWARK ♦Clark, Dodge & Co., 744 Broad St. Colyer, Robinson & Company, Inc., 1180 Ray mond Blvd. ♦Kean, Taylor & Co., 744 Broad St. ♦Minsch, Monell & Co., 790 Broad St. ♦Ohrstrom & Co., Inc., G. L., 744 Broad St. Preim & Co., C. A., 744 Broad St. Rippel & Co., J. S., 18 Clinton St. Van Deventer, Spear & Co., Inc., 24 Commerce St. PATERSON ♦Clark, Dodge & Co., 152 Market St. ♦Harriman & Keech, 175 Market St. TRENTON First National Company of Trenton, N. J., 148 W. State St. ♦Graham, Parsons & Co., Broad Street Bank Bldg. ♦Hemphill, Noyes & Co., Stacy-Trent Hotel. ♦Robinson, Miller & Co., Inc., 15 W. State St. NEW YORK New York Group ALBANY ♦Blyth & Co., Inc., 75 State St. ♦Brown Harriman & Co., Inc., Ten Eyck Bldg. Cooley & Co., George R., 100 State St. ♦Hemphill, Noyes & Co., Ten Eyck Bldg. ♦Kidder, Peabody & Co., 75 State St. ♦Manufacturers and Traders Trust Company, 142 State St. ♦Marks & Co., Laurence M., 75 State St. ♦Paine, Webber & Company, 90 State St. ♦Rollins & Sons, Inc., E. H., 75 State St. ♦Seligman & Co., J. & W., 75 State St. ♦Smith & Co., Edward B„ National Savings Bank Bldg. ♦Trask & Co., Spencer, State Bank Bldg. ♦Young & Company, Inc., F. J., 75 State St. BINGHAMTON ♦Bonbright & Co., George D. B., 97 Collier St. BUFFALO ♦Amott, Baker & Co., Inc., 298 Main St. ♦Blyth & Co., Inc., M & T Bldg. ♦Brown Harriman & Co., Inc., Liberty Bank Bldg. Cleversley & Company, White Bldg. ♦Dominion Securities Corporation, M & T Bldg. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Branch of A. E. Ames & Co., Limited, Toronto) Amott, Baker & Co., Inc., 150 Broadway ♦Auchincloss, Parker & Redpath, 63 Wall St. ♦Babcock, Rushton & Company, 50 Broadway Bacon, Stevenson & Co., 39 Broadway Baker & Co., J. E., 115 Broadway Bancamerica- Blair Corporation, 44 Wall St. ♦Bank of Montreal, Agency, 64 Wall St. (Branch of Bank of Montreal, Head Office, Montreal) Bankers Trust Company, 16 Wall St. ♦Banks, Huntley & Company, 20 Pine St. Barney & Co., Chas. D., 14 Wall St. Barr Brothers & Co., Inc., 40 Wall St. ♦Battles & Company, Inc., 90 Broad St. Bear, Stearns & Co., 1 Wall St. ♦Becker & Co., Inc., A. G., 54 Pine St. (Branch of A. G. Becker & Co., Chicago) Bennett Bros. & Johnson, 1 Wall St. Bergen, John J., 40 Wall St. Blake Brothers & Company, 40 Wall St. ♦Blyth & Co., Inc., 14 Wall St. ♦Bodell & Co., 44 Wall St. ♦Boettcher & Company, Incorporated, 52 Wall St. Bonbright & Company, Incorporated, 25 Nassau St. ♦Bond & Goodwin, Inc., 63 Wall St. Bristol & Willett, 115 Broadway ♦Brown & Sons, Alex., 2 Wall St. Brown, Harriman & Co., Inc., 63 Wall St. ♦Bullock, Calvin, 1 Wall St. Burley & Company, 115 Broadway Burnet & Co., W. E„ 11 Wall St. Burr & Company, Inc., 57 William St. ♦Byilesby and Company, H. M., Ill Broadway Callaway, Fish & Co., 15 Broad St. Campbell, Phelps & Co., Inc., 70 Pine St. Carroll & Co., John B., 70 Pine St. ♦Cassatt & Co., Incorporated, 40 Wall St. ♦Cavalier & Co., Wm„ 40 Wall St. ♦Chandler & Company, Inc., 120 Broadway ♦Chaplin & Company, 52 Broadway Chase National Bank of the City of New York, 18 Pine St. Chemical Bank& Trust Company, 165 Broadway ♦Childs and Company, Inc., C. F„ 1 Wall St. Clark, Dodge & Co., 61 Wall St. Clarke & Co., Inc., Richard W., 50 Broadway ♦Coffin & Burr, Inc., 70 Pine St. Cohu Brothers, 24 Broad St. Compton & Co., Inc., William R., Ill Broadway Craigmyle, Marache & Co., 1 Wall St. ♦Daly and Craib, 49 Wall St. Darby & Co., Inc., 1 Wall St. ♦Day & Co., R. L„ 14 Wall St. Devine & Co., C. J., 48 Wall St. Dick & Merle-Smith, 30 Pine St. ♦Dickson & Company, R. S., 30 Broad St. Dillon, Read & Co., 28 Nassau St. Distributors Group, Incorporated, 63 Wall St. Dominick & Dominick, 115 Broadway ♦Dominion Securities Corporation, 40 Exchange PL (Branch of The Dominion Securities Corporation Limited, Toronto) Downs & Co., Harry, 60 Wall Tower Doyle & Co., Charles E., 20 Pine St. Eastman, Dillon & Co., 15 Broad St. Eberstadt & Co., Inc., F., 39 Broadway Eldredge & Co., Inc., 40 Wall St. ♦BRANCH OFFICE Emanuel & Co., 50 Pine St. ♦Equitable Securities Corporation, 40 Wall St. ♦Estabrook & Co., 40 Wall St. Evans, Stillman & Co., 14 Wall St. Fenner and Beane Corporation, 67 Broad St. Fenton & Company, Inc., F. R., Ill Broadway First Boston Corporation, The, 100 Broadway First National Bank of the City of New York, 2 Wall St. ♦First of Michigan Corporation, 1 Wall St. Foster & Co., Inc., 90 Broad St. Gary & Partners, Theodore, 21 E. 40th St. Gibbons & Company, Inc., Geo. B., 49 Wall St. Glidden Morris & Co., 72 Wall St. Glore, Forgan & Co., 38 Wall St. Goldman, Sachs & Co., 30 Pine St. Gonder, Kelley & Co., Inc., 56 Pine St. ♦Graham, Parsons & Co., 48 Wall St. Granbery, Safford & Co., 40 Wall St. Green, Ellis & Anderson, 100 Broadway Greene and Company, 37 Wall St. Guaranty Trust Company of New York, 140 Broadway Hallgarten & Co., 44 Pine St. Hamilton & Co., Geo. F., 20 Pine St. Hammons & Co., Incorporated, 120 Broadway Hannahs, Baffin & Lee, 111 Broadway Harriman & Keech, 11 Broadway Harris, Ayers & Co., Inc., 70 Pine St. Hatch & Co., Inc., Frederic H., 63 Wall St. Hayden, Stone & Co., 25 Broad St. Hegarty & Co., Inc., D. M. S., 120 Broadway Heller & Co., Inc., Herbert C., 30 Broad St. Hemphill, Noyes & Co., 15 Broad St. Herrick, Heinzelmann & Ripley, Inc., 52 William St. ♦Hickey, Doyle & Co., 67 Waff St. Hipkins & Topping, 1 Waff St. Hoit, Rose & Troster, 74 Trinity PI. Holsapple, Harvey & Co., 30 Pine St. ♦Hornblower & Weeks, 40 Waff St. ♦Hughes and Company, E. W., 1 Wall St. ♦Hutton & Company, W. E., 14 Waff St. ♦Huyck and Company, A. S., 42 Broadway ♦Jackson & Curtis, 115 Broadway ♦Janney & Co., 65 Broadway Jenks, Gwynne & Co., 65 Broadway Jones & Co., Chas. H., 20 Broad St. Kean, Taylor & Co., 14 Waff St. ♦Kelley, Richardson & Co., Inc., 40 Waff St. Keys & Co., C. M„ 39 Broadway Kidder & Co., A. M„ 1 Wall St. Kidder, Peabody & Co., 17 Waff St. Kuhn, Leob & Co., 52 William St.' Ladenburg, Thalmann & Co., 25 Broad St. Lahey, Fargo & Co., 31 Nassau St. Lamport & Company, A. M., 44 Pine St. Lang & Co., F. P„ 40 Waff St. Langley & Co., W. C., 115 Broadway Lazard Freres, 120 Broadway Lazard Freres & Company, Inc., 15 Nassau St. Lebenthal & Co., 120 Broadway Lee Higginson Corporation, 37 Broad St. Lehman Brothers, 1 William St. Lewisohn & Sons, Adolph, 61 Broadway ♦Lilley & Co., 44 Wall St. Lobdell & Company, 120 Broadway Loeb & Company, Carl M., 61 Broadway Lord, Abbett & Co., Inc., 63 Waff St. ♦Mackubin, Legg & Company, 14 Waff St. Manufacturers Trust Company, 55 Broad St. ♦Marine Trust Company of Buffalo, The, 120 Broadway Marks & Co., Laurence M., 49 Waff St. ♦Massachusetts Distributors, Inc., 29 Broadway Masterson & Company, Frank C., 64 Wall St. ♦Mather & Company, Inc., Morris, 50 Broadway Maynard, Oakley & Lawrence, 24 Broad St. ♦McCole, James A., Representative, The Anglo California National Bank of San Francisco, 2 Waff St. McDermott & Co., Peter P., 39 Broadway McDonnell & Co., 120 Broadway ♦Mellon Securities Corporation, 14 Waff St. ♦Mercantile-Commerce Bank and Trust Company, 14 Waff St. ♦Mericka & Co., Inc., Wm. J., 1 Waff St. Merrill, Lynch & Co., 40 Waff St. Minsch, Monell & Co., Inc., 115 Broadway ♦Mitchell, Hutchins & Co., 1 Waff St. Morgan & Co., J. P., 23 Waff St. Morgan Stanley & Co., Incorporated, 2 Waff St. Morris & Co., William, 44 Pine St. ♦Moseley & Co., F. S., 14 Wall St. ♦Moulton & Company, R. H., 50 Broadway Murphy & Co., G. M.-P., Ill Broadway National City Bank of New York, 55 Waff St. Neergaard, Miller & Co., 1 Waff St. Newman Bros. & Worms, 25 Broad St. Newton & Co., Inc., Charles H., 14 Wall St. New York Trust Company, The, 100 Broadway Nickerson & Co., Inc., John, 61 Broadway Novotny & Co., Inc., C. G., 30 Broad St. ♦O’Brien, Potter & Co., 40 Wall St. Ohrstrom & Co., Inc., G. L., 40 Wall St. ♦Otis & Co., 120 Broadway ♦Paine, Webber & Company, 25 Broad St. Pask & Walbridge, 1 Waff St. ♦Paul & Co., Inc., 52 Waff St. Phelps, Fenn & Co., 39 Broadway Pierce & Co., E. A., 40 Wall St. Pizzini & Co., B. W., 52 Broadway Pressprich & Co., R. W., 68 William St. ♦Reinholdt & Gardner, 11 Waff St. Reynolds & Co., 120 Broadway Riter & Co., 48 Wall St. Robinson, Miller & Co., Inc., 52 William St. Rogers & Company, Inc., Hartley, 14 Wall St. Rollins & Sons, Inc., E. H„ 44 Waff St. Rothschild & Co., L. F., 120 Broadway Ryan & McManus, 39 Broadway MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA NEW YORK CITY—Continued Salomon Bros. & Hutzler, 60 Wall St. Saunders, Ashplant & Company, 2 Wall St. Schaumburg, Rebhann & Lynch, 52 William St. Schlater, Noyes & Gardner, Inc., 60 Broadway ♦Schoellkopf, Hutton & Pomeroy, Inc., 63 Wall St. Scholle Brothers, 40 Wall St. Schroder Rockefeller & Co., Inc., 48 Wall St. ♦Schwabacher & Co., Ill Broadway Seligman & Co., J. & W., 54 Wall St. Shields & Company, 44 Wall St. Smith & Co., Edward B., 31 Nassau St. Smithers & Co., F. S., 15 Broad St. Speyer & Co., 24 Pine St. Starkweather & Co., Inc., I'll Broadway *Stein Bros & Boyce, 39 Broadway Stemmier & Co., 52 William St. *Stern and Company Incorporated, Lawrence, 40 Wall St. Stone & Webster and Blodget, Inc., 90 Broad St. ♦Stranahan, Harris & Company, Inc., 115 Broad way ♦Stroud & Company, Inc., 120 Broadway Tobey & Co., 25 Broadway Trask & Co., Spencer, 25 Broad St. *Treman & Co., Arthur B., 26 Broadway *Tucker, Anthony & Co., 120 Broadway Van Alstyne, Noel & Co., Inc., 52 Broadway *Van Deventer, Spear & Co., Inc., 61 Broadway Van Ingen & Co., Inc., B. J., 57 William St. ♦Wainwright & Co., H. C., 50 Broadway *Walker & Co., G. H„ 1 Wall St. ♦Washburn & Company, Inc., 40 Wall St. ♦Watling, Lerchen & Hayes, 120 Broadway Watson & Co., Inc., Eli, T., 60 Wall St. Watson & White, 149 Broadway ♦Weed, Hall & Company, 40 Wall St. ♦Weeden & Co., 14 Wall St. ♦Weil, Roth & Irving Company, The, 74 Trinity Wertheim & Co., 120 Broadway White & Company, Inc., J. G., 37 Wall St. White, Weld & Co., 40 Wall St. Williams & Co., Clark, 160 Broadway ♦Willson & Co., James C., 39 Broadway Wilmerding & Co., 120 Broadway ♦Winthrop, Mitchell & Co., 26 Broadway ♦Witter & Co., Dean, 14 Wall St. ♦Wood, Gundy & Company, Inc., 14 Wall St. (Branch of Wood, Gundy & Company Limited, Toronto) Wood, Low & Co., 63 Wall St. Wood, Struthers & Co., 20 Pine St. ♦Wright & Co., Ed C., 49 Wall St. Young & Company, Inc.. F. J., 52 Wall St. NORTH CAROLINA Southeastern Group CHARLOTTE American Trust Co., American Trust Bldg. ♦Burnett and Company, Inc., Oscar, Commercial Bank Bldg. Dickson & Company, R. S., Wilder Bldg. Interstate Securities Corporation 200 S. Tryon DURHAM ♦Courts & Co., 212 North Corcoran. GREENSBORO Burnett and Company, Inc., Oscar, Security Bank Bldg. ♦Equitable Securities Corporation, Jefferson Bldg. Lewis and Hall, Inc., Jefferson Bldg. RALEIGH ♦Burnett and Company, Inc., Oscar, Security Bank Bldg. ♦Dickson & Company, R. S., Security Bank Bldg. Kirchofer & Arnold, Inc., Capital Club Bldg. WILSON Branch Banking & Trust Co., 124 Nash St. WINSTON-SALEM Wachovia Bank & Trust Company, Third & Main Sts. OHIO COLUMBUS Northern Ohio Group Ohio Valley Group ♦Harriman & Keech, 106 S. Main St. ♦Jackson & Curtis, Ohio Bldg. ♦Mitchell, Herrick & Co., Akron Savings & Loan Bldg. ♦Murfey, Blossom & Co., First Central Trust Bldg. ♦Otis & Co., First Central Trust Bldg. ♦Ball, Coons & Company, 16 E. Broad St. Bancohio Securities Company, 51 N. High St. ♦First Cleveland Corporation, The, A. I. U. Bldg. ♦Mitchell, Herrick & Co., Citizens Bank Bldg. ♦Otis & Co., Huntington National Bank Bldg. ♦Paine, Webber & Company, 50 E. Broad St. Sweney, Inc., Lowry, 17 S. High St. CANTON ♦Mitchell, Herrick & Co., Citizens Bldg. CINCINNATI POUGHKEEPSIE ♦Eastman, Dillon & Co., 39 Market St. ROCHESTER Bonbright & Co., George D. B., Powers Bldg. Houck & Company, Inc., Albert A., LincolnAlliance Bidg. ♦Lee Higginson Corporatiion, Lincoln-Alliance Bldg. Little & Hopkins, Inc., 16 Main St., E. ♦Rothschild & Co., L. F„ Lincoln-Alliance Bldg. Sage, Rutty & Company, Inc., 183 Main St. E. ♦Schoellkopf, Hutton & Pomeroy, Inc., LincolnAlliance Bldg. ♦Shields & Company, 23 Exchange St. ♦Stone & Webster and Blodget, Inc., LincolnAlliance Bldg. ♦Tucker, Anthony & Co., 16 Main St., E. ♦Wood, Trubee & Co., Lincoln-Alliance Bldg. SCHENECTADY ♦Murphy & Co., G. M.-P, 212 State St. SYRACUSE ♦Bancamerica-Blair Corporation, State Tower Bldg. ♦Brown Harriman & Co., Inc., Onondaga Bldg. ♦Granbery, Stafford & Co., State Tower Bldg. ♦Herrick, Heinzelmann & Ripley, Inc., State Tower Bldg. ♦Lee Higginson Corporation, 206 Highland St. ♦Seligman & Co., J. & W., State Tower Bldg. ♦Wood, Trubee & Co., State Tower Bldg. UTICA ♦Clarke & Company, H. Vaughan, Mayro Bldg. ♦Murphy & Co., G. M.-P., 236 Genesee St. ♦Treman & Co., Arthur B., First National Bank Bldg. WATERTOWN ♦Treman & Co., Arthur B„ 111 Stone St. WHITE PLAINS ♦Murphy & Co., G. M.-P., 14 Mamaroneck Ave. ♦Shields & Company, 31 Mamaroneck Ave. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cleveland Trust Company, The, 916 Euclid Ave. Curtiss, House & Company, Union Trust Bldg. Emerson & Co., Incorporated, N. L., Union Trust Bldg. ♦Field, Richards & Shepard, Inc., Union Trust Bldg. ♦First Boston Corporation, The, Union Trust Bldg. First Cleveland Corporation, The, National City Bank Bldg. Gillis, Wood & Co., Union Trust Bldg. Hawley, Huller and Company, Union Trust Bldg. Hayden, Miller and Company, Union Trust Bldg. ♦Hornblower & Weeks, Union Trust Bldg. ♦Jackson & Curtis, Union Trust Bldg. Johnson, Kase & Co., 308 Euclid Ave. Joseph & Co., Inc., Union Trust Bldg. ♦Kidder, Peabody & Co., Terminal Tower Bldg. Kraus-Cunningham & Company, Union Trust Bldg. ♦Loeb & Company, Carl M., National City Bank Bldg. McDonald-Coolidge & Co., Williamson Bldg. Mericka & Co., Inc., Wm. J., 925 Euclid Ave. Merrill, Turben & Company, Union Trust Bldg. Mitchell, Herrick & Co., Cuyahoga Bldg. Murch and Company, Maynard H., Union Trust Bldg, j Murfey, Blossom & Co., Guardian Bldg. National City Bank of Cleveland, The, E. Sixth St. at Euclid Ave. ♦Nelson, Browning & Co., Union Trust Bldg. Otis & Co., 216 Superior Ave., N. E. ♦Paine, Webber & Company, Terminal Tower Bldg. ♦Riter & Co., National City Bank Bldg. ♦Rollins & Sons, Inc., E. H., Union Trust Bldg. ♦Salomon Bros. & Hutzler, 925 Euclid Ave. Saunders, Stiver & Co., Terminal Tower Bldg. ♦Smith & Co., Edward B., Union Trust Bldg. ♦Stifel, Nicolaus & Co., Inc., Cuyahoga Bldg. Wilkison, Fred F., Hippodrome Bldg. ♦Wood, Struthers & Co., Terminal Tower Bldg. AKRON Northern Ohio Group NORWICH ♦Wood, Trubee & Co., 20 S. Broad St. 1643 Ohio Valley Group Assel, Goetz & Moerlein, Inc., Provident Bldg. Aub & Co., A. E., 49 E. Fourth St. Ballinger & Co., Union Trust Bldg. ♦Bancohio Securities Company, First National Bldg. ♦Blyth & Co., Inc., Union Central Life Bldg. ♦Braun, Bosworth & Company, Union Central Bldg. Breed & Harrison, Inc., First National Bldg. Brockhaus & Co., Edward, Union Trust Bldg. ♦Brown Harriman & Co., Inc., Union Central Life Bldg. Central Trust Company, The, Fourth & Vine Sts. ♦Childs and Company, Inc., C. F., 105 W. Fourth St. Clancey & Co., W. P., First National Bldg. ♦Dominick & Dominick, 414 Walnut St. Field, Richards & Shepard, Inc., Union Central Bldg. Fifth Third Union Trust Co., The, Fourth & Walnut Sts. ♦First Cleveland Corporation, The, Union Central Bldg. Hutton & Company, W. E., First National Bldg. ♦Joseph & Co., Inc., First National Bldg. Lincoln National Bank, Fourth & Vine Sts. Magnus & Company, Dixie Terminal Bldg. ♦McDonald-Coolidge & Co., Union Central Bldg. ♦Mitchell, Herrick & Co., Mercantile Library Bldg. Nelson, Browning & Co., Dixie Terminal Bldg. ♦Otis & Co., Mercantile Library Bldg. ♦Paine, Webber & Company, 414 Walnut St. Provident Savings Bank & Trust Company, Seventh & Vine Sts. Seasongood & Mayer, 6 E. Fourth St. ♦Stone & Webster and Blodget, Inc., Union Central Bldg. Van Lahr, Doll & Isphording, Inc., Provident Bank Bldg. Walter, Woody & Heimerdinger, 49 E. Fourth St. Weil, Roth & Irving Company, 49 E. Fourth St. CLEVELAND DAYTON Ohio Valley Group ♦Dominick & Dominick, 42 N. Main St. Feiglit-Yager & Co., Inc., Gas & Electric Bldg. ♦Hutton & Company, W. E„ Winters Bank Bldg. ♦Joseph & Co., Inc., Winters Bank Bldg. ♦McDonald-Coolidge & Co., Winters Bank Bldg. ♦Nelson, Browning & Company, Third National Bldg. SPRINGFIELD Ohio Valley Group ♦Mitchell, Herrick & Co., First National Bldg. TOLEDO Northern Ohio Group Braun, Bosworth & Company, Second National Bldg. Collin, Norton & Co., 508 Madison Ave. ♦First Cleveland Corporation, The, Home Bank Bldg. ♦Otis & Co., Security Bldg. Prudden & Company, Inc., Ohio Bldg. Ryan, Sutherland & Co., Ohio Bldg. Stranahan, Harris & Company, Inc., Ohio Bldg. OKLAHOMA Southwestern Group OKLAHOMA CITY ♦Brown-Crummer Investment Company, The, First National Bldg. Edwards, Inc., R. J., Hales Bldg. First National Bank and Trust Company, First National Bldg. Honnold, C. Edgar, 120 N. Robinson St. TULSA ♦Francis, Bro. & Co., Kennedy Bldg. OREGON Northern Ohio Group Pacific Northwest Group Ball, Coons & Company, Union Trust Bldg. ♦Bancamerica-Blair Corporation, Union Trust Bldg. ♦Bancohio Securities Company, Union Trust Bldg. ♦Blyth & Co., Inc., Union Trust Bldg. Borton, Bates & Co., Union Trust Bldg. ♦Brown Harriman & Co., Inc., Union Trust Bldg. ♦Bullock, Calvin, Williamson Bldg. Central National Bank, 308 Euclid Ave. ♦Childs and Company, Inc., C. F., Union Trust Bldg. PORTLAND Adams & Co., E. M., American Bank Bldg. Atkinson, Jones & Co., U. S. National Bank Bldg. Baker, Fordyce Co., U. S. National Bank Bldg. Blankenship, Gould & Keeler, Inc., Wilcox Bldg. ♦Blyth & Co., Inc., Pacific Bldg. Camp & Co., Inc., Porter Bldg. ♦Conrad, Bruce & Co., 316 S. W. Sixth Ave. ♦Drumheller, Ehrlichman & White, U. S. National Bank Bldg. ♦BRANCH OFFICE MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA 1644 PORTLAN D—Continued. ♦Ferris & Hardgrove, American Bank Bldg. First National Bank of Portland, Fifth & Stark Sts. Hemphill, Fenton & Campbell, Inc., Porter Bldg. Holt, Robbins & Werschkul, U. S. National Bank Bldg. Jaxtheimer & Company, Wilcox Bldg. ♦Rollins & Sons, Inc., E. H., U. S. National Bank Bldg. Warrens, Bosch & Floan, Porter Bldg. ♦Witter & Co., Dean, Porter Bldg. Wright & Co., Marshall, Porter Bldg. PENNSYLVANIA ALLENTOWN Eastern Pennsylvania Group ♦Eastman, Dillon & Co., Americus Hotel ♦Smith & Co., Edward B., Dime Trust Bldg. ALTOONA Western Pennsylvania Group ♦Hemphill, Noyes & Co., 11th Ave. & 12th St. BETHLEHEM Eastern Pennsylvania Group ♦Elkins, Morris & Co., Odd Fellows Bldg. ♦Rollins & Sons, Inc., E. H., Odd Fellows Bldg. EASTON Eastern Pennsylvania Group ♦Barney & Co., Chas. D., 7 Center Sq. ♦Clark & Co., E. W., First National Bank Bldg. ♦Lord, Abbett & Co., Inc., First National Bank Bldg. ♦Smith & Co., Edward B., First National Bldg. ERIE ♦Shields & Company, Erie Trust Bldg. ♦Granbery, Safford & Co., 1400 So. Penn Sq. Harper & Turner, Inc., Stock Exchange Bldg. Harrison & Co., 123 S. Broad St. ♦Hemphill, Noyes & Co., 123 S. Broad St. Hopper, Soliday & Co., 1420 Walnut St. ♦Hornblower & Weeks, 1429 Walnut St. ♦Hutton & Company, W. E., 1529 Walnut St. Investment Registry of America, Inc., 1515 Locust St. ♦Jackson & Curtis, Philadelphia National Bank Bldg. Janney & Co., 1529 Walnut St. ♦Kidder, Peabody & Co., 1416 Chestnut St. Krauze, Barrows & Welsh, Land Title Bldg. ♦Lazard Freres & Company, Inc., Girard Trust Company Bldg. Lilley & Co., Packard Bldg. ♦Lobdell & Company, 123 S. Broad St. McMillan, Rapp & Company, 1420 Walnut St. Morgan & Co., Reed A., 16 S. Broad St. ♦Murphy & Co., G. M.-P., 123 S. Broad St. Newbold’s Son & Co., W. H., 1517 Locust St. ♦Ohrstrom & Co., Inc., G. L., 1500 Walnut St. ♦Paine, Webber & Company, Packard Bldg. Parsly Bros. & Co., Inc., 1500 Walnut St. Paul & Co., Inc., 1420 Walnut St. Peirce & Co., Frederick, 225 S. Fifteenth St. Phillips & Co., Samuel K., Packard Bldg. ♦Pressprich & Co., R. W., Girard Trust Company Bldg. ♦Reynolds & Co., 1500 Walnut St. ♦Riter & Co., 1529 Walnut St. ♦Rollins & Sons, Inc., E. H., 1528 Walnut St. ♦Salomon Bros. & Hutzler, 123 So. Broad St. ♦Schoellkopf, Hutton & Pomeroy, Inc., 123 S. Broad St. ♦Shields & Company, 1424 Walnut St. ♦Smith & Co., Edward B„ 1411 Chestnut St. ♦Starkweather & Co., Inc., Girard Trust Company Bldg. ♦Stone & Webster and Blodget, Inc., Packard Bldg. Stroud & Company, Inc., 1429 Walnut St. Suplee, Yeatman & Company, Inc., 220 S. Six teenth St. Swain & Company, Inc., Land Title Bldg. Thayer, Baker & Co., 16 S. Broad St. Tyson Company, Warren A., 1528 Walnut St. ♦Van Alstyne, Noel & Co., Inc., 1500 Walnut St. ♦Watson & Co., Inc., Eli T„ 1616 Walnut St. Wurts, Dulles & Co., 1416 Chestnut St. Yarnall & Co., 1528 Walnut St. ♦Young & Company, Inc., F. J., 1616 Walnut St. PITTSBURGH READING Eastern Pennsylvania Group ♦Brown Harriman & Co., Inc., 24 N. Fifth St. ♦Clark & Co., E. W„ 515 Penn St. ♦Eastman, Dillon & Co., Berkshire Hotel Bldg. ♦Graham, Parsons & Co., 605 Washington St. ♦Rollins & Sons, Inc., E. H„ Berks County Trust Bldg. SCRANTON Eastern Pennsylvania Group ♦Cassatt & Co., Incorporated, First National Bldg. ♦Eastman, Dillon & Co., 516 Spruce St. ♦Green, Ellis & Anderson, 506 Spruce St. ♦Hallgarten & Co., First National Bldg. ♦Moseley & Co., F. S., First National Bank Bldg. ♦Rollins & Sons, Inc., E. H., First National Bldg. ♦Smith & Co., Edward B., First National Bldg. SHARON Western Pennsylvania Group ♦Grubbs, Scott & Company, First National Bank Bldg. WILKES-BARRE Eastern Pennsylvania Group ♦Auchincloss, Parker & Redpath, Miners National Bank Bldg. ♦Green, Ellis & Anderson, Miners National Bank Bldg. ♦Lord, Abbett & Co., Inc., Miners Bank Bldg. ♦Rollins & Sons, Inc., E. H„ Second National Bank Bldg. ♦Swain & Company, Inc., Brooks Bldg. WILLIAMSPORT Eastern Pennsylvania Group ♦Rollins & Sons, Inc., E. H., Susquehanna Trust Bldg. YORK Eastern Pennsylvania Group ♦Clark & Co., E. W„ 22 S. George St. ♦Stein Bros. & Boyce, 31 Market St. Western Pennsylvania Group HARRISBURG Eastern Pennsylvania Group ♦Hemphill, Noyes & Co., Penn Harris Hotel ♦Jones & Co., Chas. H., State Theatre Bldg. ♦Rollins & Sons, Inc., E. H., State Theatre Bldg. LANCASTER Eastern Pennsylvania Group ♦Clark & Co., E. W„ Fulton National Bldg. ♦Rollins & Sons, Inc., E. H., Fulton Bank Bldg. PHILADELPHIA Eastern Pennsylvania Group ♦Adams & Peck, 1500 Walnut St. ♦Allyn and Company, Inc., A. C., Packard Bldg. ♦Amott, Baker & Co., Inc., 1528 Walnut St. ♦Auchincloss, Parker & Redpath, 1421 Chestnut St. ♦Bancamerica-Blair Corporation 225 S. Fifteenth St. ♦Bankers Trust Company, Packard Bldg. Barclay, Moore & Co., 123 S. Broad St. ♦Barney & Co., Chas. D., 1428 Walnut St. Battles & Company, Inc., 1518 Locust St. Biddle, Whelen & Co., 1606 Walnut St. Bioren & Co., 1508 Walnut St. ♦Blyth & Co., Inc., 1500 Walnut St. ♦Brow'n Harriman & Co., Inc., 1529 Walnut St. ♦Bullock, Calvin, 1416 Chestnut St. Butcher & Sherrerd, Broad & Chestnut Sts. ♦Byllesby and Company, H. M., Stock Exchange Bldg. Cassatt & Co., Incorporated, South Penn Sq. Chandler & Company, Inc., 1500 Walnut St. ♦Childs and Company, Inc., C. F., 1400 S. Penn Sq. Clark & Co., E. W„ 1531 Locust St., Clarke & Company, H. Vaughan, 15th & Locust Sts. Collings and Company, C. C., 123 S. Broad St. Craig & Company, 1528 Walnut St. ♦Devine & Co., Inc., C. J„ 123 S. Broad St. ♦Dominion Securities Corporation 220 S. Sixteenth St. Dougherty, Corkran & Co., 1421 Chestnut St. Drexel & Co., 15th & Walnut Sts. ♦Eastman, Dillon & Co., 1506 Walnut St. Elkins, Morris & Co., Land Title Bldg. ♦First Boston Corporation, The, 1616 Walnut St. ♦Foster & Co., Inc., 15th & Chestnut Sts. Freeman & Co., Inc., M. M., Packard Bldg. ♦Goldman, Sachs & Co., 1416 Chestnut St. Graham, Parsons & Co., 1422 Walnut St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Adams Company, Charles H„ Peoples Bank Bldg. Applegate, Geo. G., Commonwealth Bldg. Arthur & Guy, Inc., Union Bank Bldg. Bear & Company, S. Lee, Union Trust Bldg. ♦Blyth & Co., Inc., Union Trust Bldg. ♦Brown Harriman & Co., Inc., Union Trust Bldg. ♦Byllesby and Company, H. M., Union Trust Bldg. ♦Cassatt & Co., Incorporated, Union Trust Bldg. Chaplin & Company, 419 Wood St. ♦Childs and Company, Inc., C. F., 439 Fifth Ave. Cunningham & Co., Inc., S. K„ Commonwealth Bldg. Duckham & Co., W. A„ Union Trust Bldg. ♦Emanuel & Co., Gulf Bldg. Farmers Deposit National Bank, Fifth Ave. & Wood St. ♦First Boston Corporation, The, Farmers Bank Bldg. First National Bank at Pittsburgg, Fifth Ave. & Wood St. Glover & MacGregor, Inc., Oliver Bldg. ♦Graham, Parsons & Co., Union Trust Bldg. ♦Granbery, Safford & Co., Union Bank Bldg. ♦Green, Ellis & Anderson, Commonwealth Bldg. Grubbs, Scott & Company, Union Trust Bldg. ♦Hemphill, Noyes & Co., First National Bank Bldg. ♦Janney & Co., Oliver Bldg. Kay, Richards & Company, Union Bank Bldg. ♦Loeb & Company, Carl M., 541 Grant St. Masten & Company, A.. E., First National Bank Bldg. McJunkin, Patton & Company, Union National Bank Bldg. Mellon Securities Corporation, 525 William Penn PI. Moore, Leonard & Lynch, Union Trust Bldg. Morris, Brown & Co., 316 Fourth Ave. ♦Moseley & Co., F. S., First National Bank Bldg. ♦Otis & Co., Union Trust Bldg. Peoples-Pittsburgh Trust Co., 4th Ave. and Wood St. Phillips, Schmertz and Company, Union Trust Bldg. ♦Rollins & Sons, Inc., E. H., Grant Bldg. Scott & Company, James H., Union Trust Bldg. Singer, Deane & Scribner, Union Trust Bldg. ♦Smith & Co., Edward B„ Gulf Bldg. Union Trust Company of Pittsburgh, The, Union Trust Bldg. Ward & Co., Norman, Grant Bldg. ♦Watson & Co., Inc., Eli T., Union Trust Bldg. Young & Co., Inc., People Bank Bldg. RHODE ISLAND New England Group NEWPORT ♦Murphy & Co., G. M.-P., 33 Bellevue Ave. PROVIDENCE ♦Blyth & Co., Inc., Ill Westminster St. Bodell & Co., 32 Custom House St. ♦Brown Harriman & Co., Inc., Hospital Trust Bldg. ♦Estabrook & Co., 15 Westminster St. ♦Faxon, Gade & Co., Inc., Union Trust Bldg. ♦First Boston Corporation, The, Hospital Trust Bldg. ♦Harriman & Keech, 15 Westminster St. ♦Hornblower & Weeks, 10 Weybosset St. ♦Jackson & Curtis, Hospital Trust Bldg. ♦Kidder, Peabody & Co., 10 Weybosset St. MacColl, Fraser & Wheeler, Hospital Trust Bldg. Miller & George, Hospital Trust Bldg. ♦Murphy & Co., G. M.-P., Hospital Trust Bldg. ♦Paine, Webber & Company, Hospital Trust Bldg. ♦Perry & Co., Inc., Arthur, Hospital Trust Bldg. ♦Putnam & Company, Inc., F. L., Hospital Trust Bldg. ♦Rollins & Sons, Inc., E. H., Turks Head Bldg. ♦Stone & Webster and Blodget, Inc., Turks Head Bldg. ♦Whiting, Weeks & Knowles, Inc., Hospital Trust Bldg. SOUTH CAROLINA Southeastern Group CHARLESTON Frost, Read & Co., 21 Broad St. Kinloch, Huger & Company, 26 Broad St. COLUMBIA Crawford Co., Inc., G. H., Central Union Bldg. ♦Dickson & Company, R. S., Central Union Bldg. SPARTANBURG Law & Company, A. M., Andrews Bldg. TENNESSEE POTTS VILLE CHATTANOOGA Eastern Pennsylvania Group ♦Hemphill, Noyes & Co., Schuylkill Bldg. ♦Rollins & Sons, Inc., E. H., Schuylkill Bldg. ♦BRANCH OFFICE Southern Group ♦Equitable Bldg. Securities Corporation, Provident MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA KNOXVILLE VIRGINIA Southern Group Southeastern Group ♦Cumberland Securities Corporation, Hamilton Bank Bldg. ♦Equitable Securities Corporation, Hamilton Bank Bldg. MEMPHIS CHARLOTTESVILLE ♦Barney & Co., Chas. D., Second & Market Sts. Peoples National Bank, The, Main St. Mississippi Valley Group ♦Equitable Securities Corporation, Union Planters Bldg. First National Bank of Memphis, 127 Madison Ave. Union Planters National Bank & Trust Company, 69 Madison Ave. NASHVILLE Southern Group Bass & Company, Jack M„ 331 Union St. Cumberland Securities Corporation, 400 Union St. Equitable Securities Corporation, 404 Union St. Robinson, Webster & Gibson, Stahlman Bldg. TEXAS Texas Group DALLAS Beckett, Gilbert & Company, Inc., First National Bank Bldg. ♦Brown-Crummer Investment Company, The, Kirby Bldg. Callihan & Jackson, Republic Bank Bldg. Dallas Union Trust Company, Dallas Bank & Trust Bldg. ♦Dunne-Israel Co., The, Gulf States Bldg. First National Bank in Dallas, 1401 Main St. Garrett & Co., Inc., First National Bank Bldg. Investment Service Corporation of Texas, Wilson Bldg. James, Stayart & Davis, Inc., First National Bank Bldg. ♦Mahan, Dittmar & Company, Dallas Bank & Trust Bldg. Miller, Moore & Brown, Inc., Republic Bank Bldg. O’Neil & Company, Donald, Republic Bank Bldg. Rauscher, Pierce & Co., Magnolia Bldg. Walker, Austin & Waggener, Republic Bank Bldg. FORT WORTH ♦Dallas Union Trust Company, Fort Worth National Bank Bldg. Fort Worth National Bank, The, Seventh & Main Sts. Underwood, Edwards & Co., Inc., First National Bank Bldg. GALVESTON Mosle and Moreland, J. L., Anico Bldg. HOUSTON Aves and Wymer, Inc., San Jacinto Nat’l Bank Bldg. Barrett & Co., R. A. W., First National Bank Bldg. ♦Brown-Crummer Investment Company, Second National Bank Bldg. Dillingham & McClung, First National Bank Bldg. Duquette, White & Co., Second National Bank Bldg. ♦Fenner and Beane Corporation, Gulf Bldg. Gregory-Eddleman Company, First National Bank Bldg. ♦Mahan, Dittmar & Company, Second National Bank Bldg. Neuhaus & Co., Union National Bldg. ♦Rauscher, Pierce & Co., Inc., Second National Bank Bldg. Rotan Co., George V., Esperson Bldg. Snyder and Company, A. W., San Jacinto Bank Bldg. Underwood & Co., Milton R„ Gulf Bldg. SAN ANTONIO ♦Brown-Crummer Investment Company, The, Smith Young Tower Dewar, Robertson & Pancoast, National Bank of Commerce Bldg. Ewing Co., Inc., W. K„ 130 W. Commerce St. Fitch & Co., W. P., Alamo National Bank Bldg. Mahan, Dittmar & Company, South Texas Bank Bldg. ♦Rauscher, Pierce & Co., Inc., Milam Bldg. Russ, Roe & Company, Frost National Bank Bldg. UTAH Rocky Mountain Group SALT LAKE CITY ♦Blyth & Co., Inc., Kearns Bldg. Burton & Company, Edward L., 160 S. Main St. First Security Trust Co., Main at Exchange PI. Hogle & Co., J. A., 132 Main St. VERMONT New England Group BURLINGTON ♦Jenks, Gwynne & Co., 162 College St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1645 OSHKOSH ♦Securities Company of Milwaukee Inc., The, First National Bank Bldg. ♦Shield & Company, First National Bank Bldg. RACINE ♦Shields & Company, Arcade Bldg. LYNCHBURG Scott, Horner & Mason, Inc., Law Bldg. NORFOLK Investment Corporation of Norfolk, 215 E. Plume St. RICHMOND Davenport & Co., 1113 E. Main St. Mason-Hagan, Inc., 916 E. Main St. ♦Murphy & Co., G. M.-P., Mutual Bldg. Richmond Corporation, The, 726 E. Main St. Scott & Stringfellow, Mutual Bldg. WASHINGTON Pacific Northwest Group SEATTLE ♦Blyth & Co., Inc., 1411 Fourth Ave. Bramhall & Stein, Hoge Bldg. ♦Conrad, Bruce & Co., 1411 Fourth Ave. Drumheller, Ehrlichman & White, Exchange Bldg. ♦Ferris & Hardgrove, Exchange Bldg. ♦First Boston Corporation, The, Exchange Bldg. Grande, Stolle & Co., Hoge Bldg. Harper & Son & Company, Win. P., Hoge Bldg. Hemphill Inc., Waldo, 1411 Fourth Ave. Hughbanks Incorporated .Dexter Horton Bldg. Huston & Co., Harold H., Hoge Bldg. Main & Co., George E., Dexter Horton Bldg. Marine National Company, 1100 Second Ave. Mclnnis, Van Dusen & Co., Hoge Bldg. Pacific National Bank of Seattle, The, Second Ave. & Madison St. Patten, Eyman & Company, Exchange Bldg. ♦Rogers & Company, Hartley (of Washington), 1411 Fourth Aver (Branch of Hartley Rogers Los Angeles) <fc Company, Inc., Seattle-First National Bank, Second Ave. & Columbia St. Seattle Trust and Savings Bank, 802 Second Ave. ♦Witter & Co., Dean, Cobb Bldg. SPOKANE ♦Blyth & Co., Inc., Old National Bldg. ♦Conrad, Bruce & Co., The Rookery Ferris & Hardgrove, 425 Riverside Ave. Murphey, Favre & Co., Spokane Eastern Bldg. Nelson and Company, Arthur E., Paulsen Bldg. Paine-Rice & Company, Old National Bldg. Richards & Blum, Inc., 101 N. Wall St. Spokane and Eastern Branch of Seattle-First National Bank, 601 Riverside Ave. Stolle, Baker & Co., Inc., Old National Bldg. TACOMA ♦Conrad, Bruce & Co., Washington Bldg. ♦Drumheller, Ehrlichman & White, W. R. Rust Bldg. ♦Witter & Co., Dean, Washington Bldg. WALLA WALLA ♦Drumheller, Ehrlichman & White, Marcus Whit man Hotel YAKIMA ♦Drumheller, Ehrlichman & White, A. E. Larson Bldg. WEST VIRGINIA Southeastern Group WHEELING ♦Masten & Company, A. E„ Central Union Bldg. WISCONSIN Central States Group MADISON ♦Securities Company of Milwaukee Inc., The, First Central Bldg. ♦Shield & Company, First Central Bldg. CANADA BRITISH COLUMBIA Pacific Northwest Group VANCOUVER ♦Ames & Co., Limited, A. E., Royal Trust Bldg. ♦Dominion Securities Corporation Limited, 510 Hastings St. ,W. ♦Wood, Gundy & Company Limited, 740 Hastings St., W. VICTORIA ♦Ames & Co., Limited, A. E., 310 Belmont House MANITOBA Canadian Group WINNIPEG ♦Ames & Co., Limited, A. E., Hamilton Bldg. ♦Bell, Gouinlock & Gillespie, Ltd., Lombard Bldg. (Branch of Bell, Gouinlock & Co., Ltd., Toronto) ♦Dominion Securities Corporation Limited, Union Trust Bldg. ♦Mills, Spence & Co., Ltd., Lombard Bldg. ♦Wood, Gundy & Company Limited, Victory Bldg. ONTARIO Canadian Group HAMILTON ♦McLeod, Young, Weir & Co., Ltd., Spectator Bldg. ♦Mills, Spence & Co., Ltd., Sun Life Bldg. ♦Wood, Gundy & Company Limited, 1 Main St., E. LONDON ♦McLeod, Young, Weir & Co., Ltd., Richmond Bldg. OTTAWA ♦Ames & Co., Limited, A. E„ 140 Wellington St. ♦Greenshields & Company, Inc., 140 Wellington St. ♦Hanson Bros. Incorporated, 56 Sparks St. ♦McLeod, Young, Weir & Co., Ltd., Ottawa Electric Bldg. ♦Wood, Gundy & Company Limited, Victoria Bldg. TORONTO Ames & Co., Limited, A. E„ 320 Bay St Bartlett, Cayley and Company Limited, 320 Bay St. Bell, Gouinlock & Co., Ltd., 25 King St., W ♦Collier, Norris & Henderson, Limited, 320 Bay St. Dominion Securities Corporation Limited, 15 King St., W. Gairdner & Company Limited, 320 Bay St. ♦Greenshields & Company, Inc., 25 King St., W. ♦Hanson Bros, Incorporated, 330 Bay St. ♦Jenks, Gwynne & Co., 320 Bay St. McLeod, Young, Weir & Co., Ltd., Metropolitan Bldg. Mills, Spence & Co., Ltd., 25 King St., W. Wood, Gundy & Company Limited, 36 King St., QUEBEC Canadian Group MONTREAL ♦Aldred & Co., Ltd., 507 Place d’Armes (Branch of Aldred & Co., New York) ♦Ames & Co., Limited, A. E„ 360 St. James St., W. Bank of Montreal, Head Office, 119 St. James St., W. ♦Bell, Gouinlock & Co., Ltd., Royal Bank Bldg. ♦Bullock, Ltd., Calvin, Aldred Bldg. (Branch of Calvin Bullock, Jersey City) Collier, Norris & Henderson, Limited, Aldred Bldg. ♦Dominick Corporation of Canada, 316 St. James St., W. (Branch of Dominick & Dominick, New York) MILWAUKEE ♦Allyn and Company, Inc., A. C„ 735 No. Water St. ♦Becker & Co., A. G„ First Wisconsin National Bldg. Bingham, Sheldon & Co., 735 N. Water St. ♦Central Republic Company, First Wisconsin National Bldg. Edgar, Ricker & Co., 750 N. Water St. Fox & Co., Morris F„ 753 N. Water St. Marshall & Ilsley Bank, 721 N. Water St. Milwaukee Company, The, 135 W. Wells St. ♦Paine, Webber & Company, 605 N. Broadway ♦Riter & Co., Title Guaranty Bldg. ♦Rollins & Sons, Inc., E. H., First Wisconsin National Bldg. Securities Company of Milwaukee Inc., The, 110 E. Wisconsin Ave. ♦Shield & Company, 740 N. Water St. ♦Straus Securities Corporation, 710 N. Water St. ♦BRANCH OFFICE ♦Dominion Securities Corporation Limited, 275 St. James St., W. ♦Gairdner & Company Limited, 360 St. James St., Greenshields & Company, Inc., 507 Place d Armes Hanson Bros. Incorporated, 255 St. James St., W. ♦Jenks, Gwynne & Co., 388 St. James St„ W. ♦McLeod, Young, WTeir & Co., Ltd., 231 St. James St., W. ♦Mills, Spence & Co., Ltd., 507 Place d’Armes Royal Bank of Canada, The, 360 St. James St., W. ♦Wood, Gundy & Company, Limited, 360 St. James St., W. QUEBEC ♦Greenshields & Company, Inc., 105 Mountain Hill SHERBROOKE ♦Greenshields & Company, Inc., Sun Life Bldg. 1646 STOCK EXCHANGE MEMBERS CALIFORNIA LOS ANGELES STOCK EXCHANGE OFFICERS: McClarty Harbison, President; Norman A. Tulk, 1st Vice-President; S. H. Ellis, Jr., 2nd Vice-President; Harry B. Brooks, Treasurer; W. G. Paul, Exec. Secretary; James W. Elliott, Managing Secretary; Inez Vermillion, Assistant Secretary MINIMUM RATES OF COMMISSION In Effect November 1, 1935 (Cancelling previous schedules) SCHEDULE “V” Minimum rates of commission as follows shall apply to stocks other than bank stocks, mining stocks, stocks listed on the New York Stock and/or the New York Curb Exchanges and also listed on the Los Angeles Stock Exchange. Odd Lots Per 100 Minimum (per share) Shares On Stocks Selling $2.50 Under 25c, $2.50 per 1,000 shares. 2.50 .50.........$ 1.00 At $ .25 and under $ 2.50 2.00 .75___ .. At .50 and under 2.50 .04 3.00 1.00___ At .75 and under 2.50 .05 4.00 3.00___ At 1.00 and under 2.50 .10 7.50 5.00___ At 3.00 and under 2.50 10.00 .12^ At 5.00 and under 10.00____ 2.50 .25 17.50 At 10.00 and under 25.00___ 2.50 .25 20.00 At 25.00 and under 50.00___ 2.50 .25 22.50 At 50.00 and under 75.00___ 2.50 .25 25.00 At 75.00 and under 100.00____ 3.00 .30 30.00 At 100.00 and under 200.00___ 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 selline price. The minimum charge shall be one-tenth (l/10th) the com mission charged for 100 shares. The commission on odd lots shall be on the pro rate basis. COMMISSION RULES: On transactions where the total amount of money involved is $10.00 or less, the commission charge shall be optional. In billing less than board lots the commission shall in no case be greater than that which is designated for the transaction involving a board lot. Commission charges on orders in excess of Board Lots shall be as follows: When an order is executed for a number of shares involving a round lot of 100 shares and an odd lot of, say 30 shares, the commission to be charged is the usual rate for the round lot and pro rata for the odd lot, provided the order is executed in its entirety. However, when a customer enters on order to sell 130 shares at a limit and the broker executes the order within the limit for 100 shares and there remain 30 shares which is thereafter converted by the customer into a market order, members are required to treat the 30 shares as an odd lot and 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: Exception rates are allowed on Stocks listed on both the New York Stock and the New York Curb Exchanges, bank stocks and mining stocks may be had on application to the Los Angeles Stock Exchange. MEMBERS Adams-Chadwick Co., 650 S. Spring St. Adams, Thomas E. & Co., 650 S. Spring St. Akin-Lambert Co., 639 S. Spring St. Anderson, Barbour & Smith, 634 S. Spring St. Bacon & Co., 256 Montgomery St., San Francisco. Bankamerica Co., 650 S. Spring St. Banks, Huntley & Co., 634 S. Spring St. Barnes, MacDonald & Company, 650 S. Spring St. Bateman, Eichler & Co., 453 S. Spring St. Battson, Barnes, Lester, Inc., 621 S. Spring St. Bayly Brothers, Inc. of California, 727 West 7th St. Bennett, Richards & Hill, 621 S. Spring St. Boothe, Gillette & Co., 634 S. Spring St. Brashears, G. & Co., 510 S. Spring St. ♦Casamajor & Doty, 619 E. Colorado St.,".Pasa dena. Cass Associates, Quincy, 530 W. 6th St. Cavalier, Wm. & Co., 523 W. 6th St. Cook, Miller & Co., Inc., 215 W. 6th St. Crisler, L. A. & Co., 639 S. Spring St. Crowell, Weedon & Co., 650 S. Spring St. Dobbs-Crowe, Wagenseller & Durst, 626 S. Spring St. Dunk-Harbison Co., 634 S. Spring St. Edgerton, Riley & Walter, 621 S. Spring St. Ellis, S. H„ Inc., 639 S. Spring St. Fastnow, William C„ 215 W. 7th St. Friedlander & Speth, Inc., 650 S. Spring St. GRANT, D. G. COMPANY, Room 415, 453 S. Spring St. Graves, Banning & Co., 629 S. Spring St. ♦Greenwood & Co., 6253 Hollywood Blvd., Hollywood. Gregory, R. N. & Co., 210 W. 7th St. ♦Hall, Frank H„ 351 S. Hill Ave., Pasadena. Harris, F. E., 650 S. Spring St. Harris, F. E. & Co., 650 S. Spring St. Hay, Earl G„ 650 S. Spring St. Hill, D. A., & Co., 215 W. 7th St. ♦Hogle, J. A., & Co., 532 W. 6th St. Hopkins, Hughey & Anderson, 609 S. Grand Ave. Hutton, E. F. & Co., 623 S. Spring St. Kerr, J. D. & Co., 629 S. Spring St. ♦Knight, Jno. 0., 2177 W. 24th St. Laswell & Co., 609 S. Grand Ave. Lewis, M. H. & Co., 453 S. Spring St. Longan, Dunn & Co., 621 S. Spring St. Lopez & Co., 639 S. Spring St. MacLaughlin, Leo G., Co., 54 S. Los Robles Ave., Pasadena. Marache, Paul J. & Co., 650 S. Spring St. Martin, James R. & Co., 647 S. Spring St. Miller & Co., Revel, 650 S. Spring St. Mitchum, Tully & Co., 650 S. Spring St. Montjoy, Hurry & Hilgers, 621 S. Spring St. Morlan, Malcolm F., 215 W. 7th St. Morris & Co., A. W., 325 W. 8th St. ♦Newland, E. H. & Co., 639 S. Spring St. Pacific Company of California, 623 South Hope St. Page, Hubbard & Asche, 210 W. 7th St, Paul & Jones, 215 W. 6th St. Rath, Howard G. Co., 523 W. 6th St. W. N. Reagan Co., 124 E. First St., Long Beach. Rogers & Co., Inc., Hartley, 210 W. 7th St. Rutland, Edwards & Co., Inc., 530 W. 6th St. Sattler, Joseph, 634 S. Spring St. Searl-Merrick Company, 634 S. Spring St. STAATS, WM. R. CO., 640 South Spring St. Sutro & Company, 210 W. 7th St. Thomas-Seidel & Co., 458 S. Spring St. Tulk & Co., 325 W. 8th St. Vedder & Co., Clyde, 6253 Hollywood Blvd., Hollywood, Calif. Walker, M. S., & Co., 125 E. First St., Long Beach. Wilke, Fred L., 530 W. Sixth St. Young-Clarke & Co., 215 W. 7th St. (Associate members *) Further Information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1647 SAN FRANCISCO STOCK EXCHANGE (Board Room: 155 Sansome St.) Officers: F. C. Shaughnessy, President; Gustav Epstein, Vice-President; Ruth Kapelsky, Secretary. The Anglo California National Bank, San Francisco, Treasurer. MINIMUM KATES OF COMMISSION—In Effect April 28, 1930 Minimum Charge t Under $1.00 per share................................__$ 3.00 per 100 shares._$2.50 (Odd lots 12J^c per share) On Stocks Selling At $ 1.00 and under $ 3.00 per share....... $ 4.00 per 100 shares..$2.60 (Odd lots 12^c per share) BONDS Minimum Charge Up to $125.00, $10,000 lots........... $25.00 per $10,000 par value..$2.50 (Odd lots pro rata) At $125.00 and over rates for stocks apply (except that an odd lot is less than $10,000 par value) NOTE: Whenever the commission charge based on the odd lot rate is higher than a charge for a round lot (100 shares) of the same stock, the latter amount may be charged. At$ 3.00 and under $ 5.00 per share....... $ 7.50 per 100 shares..$2.60 (Odd lots 12Hc per share) At $ 5.00 and under $ 10.00 per share....... $10.00 per 100 shares..$2.60 (Odd lots 12Hc 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) On all transactions where the total amount of money involved is less than $50.00, but not less than $10.00, the commission charge shall be discretionary with the member, subject to a minimum charge of $2.50 for each transaction. When the amount involved is less than $10.00 the commission charge shall be entirely discretionary. Orders executed locally in stocks listed on the New York Stock Exchange or the New York Curb Exchange shall take the established New YorkWestern rates for such stocks which differ from the above schedule only In the round lot rates as follows: On New York Stock Exchange stocks: At $ .50 per share and under $1.00 per share........... $ 5.00 per 100 shares At $1.00 per share and under $5.00 per share........... $10.00 per 100 shares At $ 50.00 and under $ 75.00 per share....... $22.60 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) On New York Curb Exchange Stocks: At $1.00 per share and under $3.00 per share............$ 7.50 per 100 shares At $100.00 and under $200.00 per share....... $30.00 per 100 shares..$3.00 (Odd lots 30c per share) *On all shipments of securities for customers (or incident to customers’ purchases or sales), whether eastbound or westbound, insurance and postage shall be charged to all customers at the following rates: At $200.00 and over per share, the commission shall be increased $5.00 per 100 shares additional for each $50.00 or fraction thereof Increase In selling price. The commission on odd lots shall be on a pro rata basis. The minimum charge shall be l/10th the commission charged for 100 shares. REGULAR MAIL (RAIL): 15c per $1,000 of market value on nonnegotiable securities with a minimum charge of 30c; 20c per $1,000 of market value on negotiable securities with a minimum charge of 45c. AIR MAIL: 30c per $1,000 of market value on non-negotiable securities with a minimum charge of 50c; 50c per $1,000 of market value on negotiable securities with a minimum charge of 75c. If a member accounts to a customer for several orders involving one shipment, the total proceeds may be added and the insurance and postage charges may be made on the total proceeds at the rates above specified. t In no case need the commission on rights selling under fifty cents exceed live per cent of the money involved in the trade. *As amended April 15,1936. ' MEMBERS Adams, W. W. & Co., 465 California St. Alanson Bros. & Co., 1109-1112 Kohl Bldg. ♦American Brokerage, Inc. Bacon & Co., 256 Montgomery St. ♦Bankamerica Company, 485 California Street Barth, J. & Co., 482 California St. Berl, Edwin D„ 256 Montgomery St. Bolton, Robert C. & Co., 219-224 Kohl Bldg. Bremer, Milton A., 256 Montgomery St. H. H. Buchanan & Co., 15 E. Santa Clara St., San Jose, Calif, and 50 Post St., San Francisco. Cavalier, Wm. & Co., 121 Sutter St. Coleman, Jr.. Robert L„ 133 Montgomery St. Curran & Hooker, 155 Sansome St. Davies & Co., 300 Standard Oil Bldg. Davis, Skaggs & Co., 211 Montgomery St. Deuchar, C. D., 2210 Russ Bldg. Dwyer & Parrish, 155 Sansome St. Ehrman, Albert L., 519 California St. •Elworthy & Co., Ill Sutter St. Fagan Eastland & Co., 1 Montgomery St., Fisher & Co., 351 Montgomery St. Greenwood-Raggio & Co., 1501 Russ Bldg. Grimes & Swift, 490 California St. Hellmann-Wade & Co., 517 California St. Hendrickson, Shuman & Co., 155 Sansome St. Holt & Ede, 569 Russ Bldg. Howell, Douglass & Co., 30th floor Russ Bldg. Jenkins, Reginald C., 225 Montgomery St. Johnson, Cyrus B„ 155 Sansome St. Johnson, Frederic H., 1543 Russ Bldg. Kahn, Sidney P., 482 California St. Keyston & Co., 50 Post St. Keyston F. B. Co., 50 Post St. Koshland, Max I. & Co., Suite 12, Mills Bldg. Leib, O’Connor & Co., 3014 Russ Bldg. Lillenthal, M. P„ & Co., 1204 Russ Bldg. Lundborg, Irving & Co., 604 Kohl Bldg. Manheim, Baker & ver Mehr, 440 Montgomery St. McDonnell & Co., 633 Market St. McNear & Company, 362 Russ Bldg. Meigs, J. J., Benbow, Calif. Newell, Coons & Co., 232 Montgomery St. Norris, L. H. & Son, 1272 Russ Bldg. Park, Howard G., 155 Sansome St. Pierce, E. A. & Co., 301 Montgomery St. Raiss, Carl & Co., 256 Montgomery St. Shaughnessy, Frank C. & Co., 604 One Eleven Sutter Bldg. Shaw, Hooker & Co., 1 Montgomery St. ♦WM. R. STAATS CO., 155 Montgomery St. Stern, John D., Ill Sutter St. Strassburger & Co., 133 Montgomery St. Sutro, Adolph G„ 1000 Point Lobos Are. Sutro & Co., 407 Montgomery St. Walston & Co., 2801-07 Russ Bldg. Wheeler, Rollo C., 1243 Russ Bldg. Wilson, Francis A., 1112 Russ Bldg. Witter, Dean & Co., 45 Montgomery St. (Associate Member*) Farther information on Arms appearing In bold lace 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 1648 STOCK EXCHANGE MEMBERS COLORADO COLORADO SPRINGS STOCK EXCHANGE Secretary—C. M. Balkam, 418 Mining Exchange Bldg. SATES OF COMMISSION Adopted December 31,1925 Under lc per share............................. ........................3 .50 per 1,000 shares At lc and under 2c per share................ 75 per 1,000 shares At 2c and under 6c per share____ ____ 1.25 per 1,000 shares At 5c and under 10c per share............................. 2.00 per 1,000 shares At 10c and under 20c per share............................ 3.00 per 1,000 shares At 20c and under 30c per share............................... 4.00 per 1,000 shares At 30c and under 40c per share................ 5.00 per 1,000 shares At 40c and under 50c per share_______________ 6.00 per 1,000 shares At 50c and under 75c per share...................... 7.50 per 1,000 shares At 75c and under $1.00 per share.............................10.00 per 1,000 shares At $1.00 and under $2.00 per share...................... 2.00 per 100 shares At $2.00 and under $3.00 per share............... 4.00 per 100 shares At $3.00 and under $5.00 per share____________ 5.50 per 100 shares At $5.00 and under $10.00 per share........................ 7.50 per 100 shares •At $10.00 and under $25.00 per share.................. 15.00 per 100 shares At $25.00 and over per share__________________ 25.00 per 100 shares (Minimum commission shall not be less than $1.00 on an Individual transaction.) •Golden Cycle Corp.—20c per share. ON BONDS (Effective July 17, 1934) $1.50 per $100 bond—for tota Ipar values of $100 to $500 inclusive. $3.00 per single bond of $1,000 par value. $2.50 for each bond in even multiples of $1,000 par value. BOARD-LOTS 5,000 shares in stocks selling at less than 2c per share. 1,000 shares in stocks selling at 2c and less than 50c per share. 500 shares In stocks selling at 50c and less than $2.00 per share, except the shares of the Holly Development, Holly Oil, Table Mesa Oil in which 100 shares constitute a board-lot. 100 shares in stocks selling at $2.00 and less than $10.00 per share. 10 shares in stocks selling at $10.00 and over per share. Daily quotations are for board-lots only MEMBERS Balkam, 0. M„ 338 First Nat’l Bk. Bldg. Carlton, L. G„ Golden Cycle Bldg. Gray, William, Mining Exchange Bldg. Hopkins, C. D„ Mining Exchange Bldg. Hughes, E. W. & Co., Mining Ex. Bldg. Lelpheimer, N„ Independence Bldg. Nicholson, W. F., Mining Ex. Bldg. Penrose, Spencer, Broadmoor Hotel Quentin, E. E. & Co., P. O. Box 343 Ragle, Horace, Mining Ex. Bldg. Sachs, Henry, First Nat’l Bk. Bldg. Young, H. A., Independence Bldg. Young, R. S„ Mining Ex. Bldg. DENVER STOCK EXCHANGE Officers: Warren R. Given, President; Amos Downs, Vice-President; Fred W. Miller, Treasurer; Ralph M. Davis, Secretary; Marjorie Eaton, Assistant Secretary. RATES OF COMMISSION SCALE OF COMMISSIONS Units of Trading (Board Lots) Stocks selling under 5c 5% on money 5c and under “ at 10c $2.50 per thousand shares •• 10c “ 50c He * share .. •• $1.00 50c “ $2.50 ‘ hundred shares .. •* •* $1.00 “ $2.50 $3.00 . “ •• $2.50 “ $5.00 $5.00 .. .. $5.00 “ $10.00 $7.50 “ •* •• •• $10.00 “ $25.00 $12.50 ‘ “ “ $25.00 “ over $25.00 ..................... Minimum commission is as follows: On orders amounting to $60.00 or less, $1.50; on stocks selling under $10.00 per share, $2.50; on stocks selling at $10.00 and above, $3.50. No State Tax required on transactions on the Denver Stock Exchange. Transfer charge added. Tbe unit of trading (board lots) sball be as follows: Stocks selling at 1 cent per share or under—5,000 shares. Stocks selling above 1 cent per share and under 10 cents per share—1,000 shares. 8tocks selling at 10 cents per share and under 50 cents per share—500 shares. Stocks selling at 50 cents per share and under $3.00 per share—100 shares. Stocks selling at $3.00 per share and under $10.00 per share—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. Offers to buy or sell shall be taken to mean a board lot unless otherwise specified. Board lots shall at all times take precedence over special lots. Offers to buy or sell special lots greater than board lots shall be held to include board lots for the whole or any portion thereof. MEMBERS Carroll & Co., Inc, Guardian Trust Bldg. Cleek & Co., 1737 Stout St. Coe & Co., W. L., 611 C. A. Johnson Bldg. Currie, Trevor, 437 U.S. National Bank Bldg. Davis, R. M„ & Co., U. S. National Bank Bldg. Downs & Co., 718 17th St. Foreman & Co., 213 California Bldg. W. R. Given & Co., Suite 804 Interstate Trust Bldg. Howard J. Hannon & Co., 1012 U. S. National Bank Bldg. Ralph G. McFann & Co., 431 U. S. Nat’l Bank Bldg. Meyer-Martin & Co., Suite931 U.S.Nat’lBank Bldg. Nation Wide Investment Co., 2239 E. Colfax Ave. P. B. Rosebrough, 1536 Welton St. W. F. Ryan, 509 17th St. Stark-Daniel & Co., Idaho Springs, Colo. Stem-Stovall Co., 404 Patterson Bldg. A. F. Woodward, 521 U. S. National Bank Bldg. R. E. Young & Company, 1706 Stout St. 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 STOCK EXCHANGE MEMBERS 1649 DISTRICT OF COLUMBIA WASHINGTON STOCK EXCHANGE 632 Washington Bldg. Washington Stock Exchange Officers: James M. Johnston, Pr*t. Karl W. Corby,V. P. W. W. Mackall, Jr., Sec. Chauncey G. Parker, Jr., TV. COMMISSION CHARGES (Effective March 16, 1936) BONDS Government................................. .......................................... 12)4c. per $100 All other bonds_____ _______ __________________ ____ 25c. per $100 Auchlncloss, Parker & Redpath, 719 15th St., N. W. Booker, Y. E. & Company, 730 15th St., N. W. Brawner Jno. F., c/o Waggaman, Brawner & Co., Inc., 1700 Eye St., N. W. Brown, Goodwyn and Co., 730 15th St. N. W. Casilear, R. A., Falls Church, Va. Cramer, Geo. F., 1700 Eye St., N. W. English, Merton A., Washington Bldg. Erwin, Henry P„ Hibbs Bldg., 725 15th St. N. W. Ferris George M„ Washington Bldg., 15th & New York Ave., N. W. Flather, H. H„ 725 15th St., N. W. Gockeler, C. J„ 619 14th St., N. W. Golden, Theodore T„ 730 15th St., N. W. STOCKS Under 50c a share.................................................................. l)4c. per share At 50c a share and above, but under $1.................................3c. pershare At $1 a share and above, but under $5...................................5c. pershare At $5 a share and above, but under $10................................10c. pershare At $10 a share and above, but under $50............................. 15c. pershare At $50 a share and above, but under $100........................... 25c. pershare At $100 a share and above, but under $150......................... 50c. pershare At $150 a share and above, but under $200..L................... 75c. pershare At $200 a share and above, but under $300........................$1.00 pershare At $300 a share and above, but under $500................... ...$1.50 per share At $500 a share and above_______ __________________$2.00 per share Commissions on Rights shall be the same as those fixed for stocks. Fractional shares: Less than U share................................................... 25c. each transaction )4 share and over.......................................................50c. each transaction Minimum charge of $3.00 on any single transaction (Stocks or Bonds), except fractional shares. MEMBERS Hall, Peters and Bryson, Southern Bldg., 15th & H. Sts. N. W. Harriman & Keech, 815 15th St. N. W. Hibbs, W. B. & Co., 725 15th St. N. W. Hillyer, Edward L„ c/o Union Tr. Co., 15th & H Sts., N. W. Jacobsen, Charles, 613 15th St., N. W. Johnson, O. H. P„ 613 15th St.. N. W. Johnston, Lemon, & Company, Southern Bldg., 15th & H Sts., N. W. Jones, Robert C„ Shoreham Bldg., 15th & H Sts., N. W. Mackall, Jr., W. W., Woodward Bldg. MACKUBIN, LEGG & CO., Woodward Bldg. 15th & H Sts., N. W. McKnew, Donald H„ 719 15th St. N. W. Murphy & Co., G. M. P.,52 Broadway, New York. Nees, Bernard J., Southern Bldg. Nolan, James P., 730 15th St., N. W. O’Donnell, James, 15th and Eye Sts., N. W. Quail, Myles H„ 730 15th St., N. W. Rodler, P. P„ 725 15th St., N. W. Thoron, Benjamin, 1900 N. St., N. W. Wales, K. S„ 815 15th St., N. W. Westheimer & Company, Woodward Bldg., 15th and H Sts., N. W. Wilkins, Jno. F„ 1700 Massachusetts Ave., N. W. HAWAII HONOLULU STOCK EXCHANGE Stocks Stocks Stocks Stocks Stocks Stocks Stocks Officers: Rolla K. Thomas, President; C. M. Cooke, III, Vice-President; Geo. E. Parker, Executive Secretary; Cooke Tr. Co., Ltd., Treasurer. MINIMUM RATES OF COMMISSION Adopted by the HONOLULU STOCK EXCHANGE Effective May 1$, 1929 On stock bought or sold locally—listed or not listed. selling below $ .10. )4pershare 50.00 and under 76.00................. .35 per share Stocks selling at selling at .10 and under $ 1.00_________01 per share Stocks selling at 75.00 and under 100.00............................40 pershare selling at 1.00 and under 2.50..................02)4 per share Stocks selling at 100.00 and above............ ............... J4 of 1% selling at 2.50 and under 5.00....................07)4 per share Minimum commission on stocks $2.50. selling at 5.00 and under 10.00........... .12)4 per share selling at 10.00 and under 20.00..................20 per share Minimum commission on Bonds one fourth of one per cent on par, but not selling at 20.00 and under 50.00..................25 per share less than 50c. Andrade, Joe, 89 Merchant St. Bishop Trust Co., Ltd., 1415 King St. Bldg. Campbell, A. J„ 79 Merchant St. Cooke Trust Co., Ltd., 920 Fort St. MEMBERS Hawaiian Trust Co., Ltd., 120 S. King St. Love & Co., Ltd., W. A., P. O. Box 578. Rice, Jr., A. H„ 227 S. King St. Union Trust Co., Ltd., 1025 Alakea St. Walker, Samuel A., 80 Merchant St. Witter, (Dean) & Co., 115 Merchant St. ILLINOIS CHICAGO STOCK EXCHANGE (120 South LaSalle St.) Officers: Thaddeus R. Benson, President; Wallace C. Winter, Vice-President; Harvey T. Hill, Assistant to the President; Paul B. Skinner, Treasurer; Martin E. Nelson, Assistant Secretary and Assistant Treasurer; Jess Halsted, Secretary; Charles T. Atkinson, Secretary Emeritus; Kenneth L. Smith, Assistant Secretary; Sidney L. Parry, Assistant Secretary; George W. Wilson, Assistant Secretary and Floor Manager RATES OF COMMISSION Commissions: (a3) On business for members of the Exchange when a principal is Section 1. Commissions shall be charged and paid under all circum not given up, the commission shall be not less than the following: stances, upon all purchases or sales of securities dealt in upon the Exchange Selling at less than 1 per cent of face value of principal— (except as provided in Subdivision [h], Section 2 of this Article) and shall As may be mutually agreed upon. be absolutely net and free from all or any rebatement, return, discount or Selling at 1 per cent or above but under 10 per cent of face value of allowance in any shape or manner whatsoever, or by any method or arrange principal— ment direct or indirect; and no bonus or any percentage or portion of the Not less than 62)4c per $1,000 face value of principal. commission shall be given, paid or allowed, directly or indirectly, or as a Selling at 10 per cent of face value of principal and above— salary or portion of a salary, to any clerk or person for business sought or Not less than $1.25 per $1,000 face value of principal. procured for any member of the Exchange. (b) On securities of the United States, Porto Rico and the Philippine Islands, and of states, territories and municipalities therein, on business Sec. 2. Commissions shall be calculated on the basis hereinafter specified: for members of the Exchange as well as nonmembers, the restrictions as to (a) On railroad, public utility and industrial bonds, having more than minimum commissions contained in this article shall not be applicable, but five years to run: the rates to be charged shall be such as may be mutually agreed upon. (al) On business for parties not members of the Exchange, including (c) On Stocks: Joint account transactions in which a nonmember is Interested; transactions (cl) On business for parties not members of the Exchange, including for partners not members of the Exchange; and for firms of which the Joint account transactions in which a non-member is interested; transac Exchange member or members are special partners only, the commission tions for partners not members of the Exchange; and for firms of which the shall be not less than the following: Exchange member or members are special partners only, the commission Selling at less than 1 per cent of face value of principal— shall be not less than the following: As may be mutually agreed upon. On stocks selling below $10 per share, but not less than $1 per share, Selling at 1 per cent or above but under 10 per cent of face value of 7J4c per share. principal— On stocks selling at $10 per share and above, but under $25 per share, Not less than $1.25 per $1,000 face value of principal. 12)4c per share. Selling at 10 per cent of face value of principal and above— On stocks selling at $25 per share and above, but under $50 per share, Not less than $2.50 per $1,000 face value of principal. 16c per share. (a2) On business for members of the Exchange when a principal is On stocks selling at $50 per share and above, but under $75 per share, given up, the commission shall be not less than the following: 17J4c per share. Selling at less than 1 per cent of face value of principal— On stocks selling at $75 per share and above, but under $100 per share. As may be mutually agreed upon. 20c per share. Selling at 1 per cent or above but under 10 per cent of face value of On stocks selling at $100 per share and above, but under $200 per share, principal— 25c per share. Not less than 37)4c per $1,000 face value of principal. On stocts selling at $200 per share and over, 25c per share for the first Selling at 10 per cent of face value of principal and above— $200 in price and 5c per share additional for each $50 increase in price, or Not less than 75c per $1,000 face value of principal. fraction thereof. 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. 87 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1650 STOCK EXCHANGE MEMBERS CHICAGO STOCK EXCHANGE—Continued RATES OF COMMISSION—Conti uued The minimum commission on an individual transaction in stock shall be to odd lot dealers upon the execution of transactions in odd lots shall be not less than as provided in subdivision (h) of Section 2, and Section 3 of calculated in accordance with Section 2 of this Article, without any minimum. this Article. Sec. 4. Members suspended by the Governing Committee shall not, (c2) On business for members of the Exchange when a principal is given during the time of suspension, be entitled to have their business transacted up, the commission shall be not less than the following: at members’ rates. On stocks selling below $10 per share but not less than $1 per share, A member who is in suspension by reason of insolvency, may have his lJ4c per share. business transacted at members’ rates. On stocks selling at $10 per share and above, but under $125 per share, Sec. 5. No agreement or arrangement shall be entered into between a 2Hc per share. member of his firm, and his or their customer, whereby special and unusual On stocks selling at $125 per share and over, 3c per share, except that rates of interest are stipulated for, or money advances upon unusual terms the minimum commission shall be not less than as provided in Section 3 are made a condition in connection with the conducting of an account, with of this Article. intent thereby to give special or unusual advantages to such customer for (c3) On business for members of the Exchange when a principal is not the purpose of securing his business. given up, the commission shall be not less than the following: Sec. 6. No payment shall be made to customers of the proceeds from the On stocks selling below $10 per share but not less than $1 per share, sale of securities on the day of the sale and before the money is received by lMc per share. the broker, unless interest is charged. When securities purchased for a On stocks selling at $10 per share and above, but under $125 per share, customer are not paid for by him on the day they are received and paid 3J£c per share. for by the broker, interest must be charged from that date to the date of On stocks selling at $125 per share and over, 5c per share, provided, payment. Where a material or more than nominal loss is sustained, either through bank exchange charges or interest, the same must be charged to however, that the minimum commissions on individual transactions shall be the customer. not less than as provided in Section 3 of this Article. Sec. 7. Any member violating this Article, directly or indirectly, of (d) In transactions where orders are received from a non-member, where which the Governing Committee shall be the judge, shall, upon conviction, in the broker filling the order is directed to give up another broker or clearing for the first offense, be fined five hundred dollars, and shall be suspended house, the responsibility of collecting the full commission, as specified in for a period of not less than three months; and for the second offense shall Subdivisions (al), (b) and (cl), hereof, shall rest with the broker or clearing house settling the transaction. be expelled, and his membership disposed of by the Committee on Admis sions. (e) In transactions where orders are received from a member, on which OPTIONAL MINIMUM COMMISSION the clearing firm is given up by said member or by his order, the responsibility Sec. 8. Notwithstanding any of the foregoing provisions, a member may of collecting the full commission, as specified in Subdivisions (a3), (b) and at his option charge a non-member for executing orders in securities listed (c3), hereof, shall rest with said clearing firm; and it shall be the duty of the both on this Exchange and the New York Stock Exchange either the minimum broker who executes such orders to report such transactions to the clearing commission rates prescribed by the New York Stock Exchange. firm and render to them and collect his bill therefor at the rate specified in Subdivisions (a2), (b) and (c2), hereof; and also that where a broker executes COMMISSIONS ON RIGHTS AND STOCK an order for a member and clears the security himself, he must charge the rates specified in Subdivisions (a3), (b) and (c3), hereof. Reference is made to the By-Laws, Article XVI, Section 2, paragraph (h). (f) Whenever a nonmember of this Exchange shall cause to be executed The Committee on Commissions, with the approval of the Governing in any market outside of the United States any order or orders, for the Committee, hereby rules that until further notice the commissions on sub purchase or sale of securities listed on this Exchange, (except as provided in scription rights accruing on one share of stock and upon stock selling for Subdivision [h] hereof), and said purchase or sale shall be accepted by a less than $1.00 per share shall be not less than the following: member or firm who are members of this Exchange, for the account of said Under 50c per right or share of stock: non-members, the commission as specified in Subdivisions (al), (b) and (cl), May be mutually agreed upon. hereof, shall be charged said nonmember in addition to any commission 50c per right or share of stock, but under $1.00: charged by the party or parties making the transaction. To non-members, not less than 3c; minimum 50c. To members, give-ups, not less than He. (g) When securities are received or delivered on a privilege for a non To members, clearance, not less than %c. member, the commission as specified in Subdivisions (al), (b) and (cl), $1.00 per right and above, but under $5.00: hereof, must be charged whether said securities are received or delivered To non-members, not less than 5c; minimum $1.00. upon the day of expiration of said privilege or prior thereto. To members, give-ups, not less than He. (h) On Subscription Rights, Stocks selling for less than $1 per share; To members, clearance, not less than lHc. Bonds or Notes of Foreign Countries having five years or less to run; Notes $5.00 per right and above, but under $10.00: of Corporations having five years or less to run; Bonds having five years or non-members, not less than 7Hc; minimum $1.00. To less to run; such rates to members or non-members as may be mutually To members, give-ups, not less than lHc. agreed upon; provided, however, that the Committee on Commissions, with To members, clearance, not less than lHc. the approval of the Governing Committee, may hereafter determine special $10.00 per right and above: rates on any or all of the above mentioned securities. The rates shall conform to the rates on stocks of the same price; provided (i) When a member merely receives and delivers securities for another that the minimum on one transaction to non-members shall be $2 00 member, the clearing charge for said service may be a matter of mutual The above rates to be effective as of December 30, 1930, and to continue agreement, and the restrictions as to minimum commissions contained in in force until further notice. this Article shall not be applicable. Such clearing charges shall be based Compensation: The payment of any commission or bonus for the upon a stipulated sum of money for each one hundred shares of stock or one adjustment of salaries is held a violation of Article XVI, Section 1 of the thousand dollars of bonds received or delivered. The payment for said By-Laws. Any plans for additional or adjusting compensation should be service of a certain sum of money for any period of time, irrespective of submitted to the Committee on Commissions for its approval. the number of shares or amount of bonds cleared, is forbidden. Discretionary Accounts: Customers’ men and all other employees are Sec. 3. The minimum commission on transactions in stocks for non prohibited from handling discretionary accounts. Discretionary power in members (except in stocks selling for less than $1.00 per share) shall the handling of an account may be vested only in partners. A partner (a) Where the transaction involves $200.00 or more, be not less than may delegate such discretionary power to a customers’ man to a reasonable $5.00; extent, provided the consent of the customer in writing is first obtained. Such delegation of discretionary power by a partner to a customers’ man (b) Where the transaction involves less than $200.00 but $15.00 or more, be not less than $3.00; and does not relieve the partner of responsibility for improper transactions. (c) Where the transaction involves less than $15.00, be as may be CHARGES FOR THE SERVICE OF CLEARING mutually agreed upon. Upon transactions between members, the minimum commission shall be Reference is made to the By-Laws, Article XVI, Section 2 (i). $1.00 upon stocks selling at $10.00 and above per share, and 50c upon An agreement between members whereby the charge for the service of stocks selling below $10.00 per share but not less than $1.00 per share; clearing a member’s transaction in stocks is less than $1.25 per hundred Provided, that where any transaction involves less than $15.00, the com shares, shall be deemed to be an act not in accordance with just and equi mission to be charged may be mutually agreed upon, and Provided Further, table principles of trade and business, and the offending member shall be that there shall be no minimum commission fixed upon transactions in odd subject to such penalty as may be inflicted by the Governing Committee lots executed by members for and on behalf of odd lot dealers who have as it may deem proper according to the gravity of the offense, as specified been approved as such by the Exchange, but the commissions to be charged in Article XII, Section 11, of the Constitution. Aagaard, Walter S., 141 W. Jackson Blvd. Abbott, Proctor & Paine, 208 S. La Salle St. Aldrich, Frederick C„ 120 S. LaSalle St. Anderson, Robert B., 22 W. Monroe St. Andrew, L. A., Jr. & Co.. 38 S. Dearborn St. Annan, David H., 141 W. Jackson Blvd. Apgar, Daniels & Co.. 120 S. LaSalle St. Archer, W. K. & Co., 926 Baltimore Bldg., Kansas City, Mo. Armour, Laurance H., 33 N. LaSalle St. Armstrong .Frederick W„ 132 W. Monroe St. Atkins, Hamill & Gates, 204 Electric Bldg., Indianapolis, Ind. Austrian, Harvey S„ 141 W. Jackson Blvd. Avery & Co., 120 S. La Salle St. BABCOCK, RUSHTON & CO., 135 S. LaSalle St. BACHE, J. S. & CO., 316 S. LaSalle St. Bacon & Co., 256 Montgomery St., San Francisco, Calif. MEMBERS Bell & Beckwith, 519 Madison Ave., Toledo, Ohio. Bennett, James E. & Co., 332 S. LaSalle St. Benson, George B., 135 S. LaSalle St. Benz, George W., 300 Shubert Bldg., St. Paul, Minn. Benz, Herbert G., 300 Shubert Bldg., St. Paul, Minn. Bidgood, Clyde H„ 105 W. Adams St. Biel, Edward L., 120 S. LaSalle St. Blesch, Joseph G„ 4720 Greenwood Ave. Bloomingston, Jno. A., 160 N. LaSalle St. Blum, Plarry H., 630 S. Michigan Ave. Blumenthal & Ward. 120 S. LaSalle St. Bodman, Harold C., c/o Am. Express Co., Florence, Italy. Boorman, Earl D., 120 S. LaSalle St. Boyce, W. Graham, Jr., 1209 Astor St. Bridgen, Clarence J., 209 S. LaSalle St. Bright, Elmer H„ & Co., 84 State St., Boston, JvlclSS. Brockhaus, Philip W., 208 S. LaSalle St. BACON, WHIPPLE & CO., 135 S. LaSalle St. BROWN BROTHERS HARRIMAN & CO., 135 S. LaSalle St. Badenoch, David A., 327 S. La Salle St. Baker. Alfred L. & Co.. Ill S. LaSalle St. Ballard, Seymour, 120 S. LaSalle St. Barney, Chas. D. & Co., 14 Wall St., New York, N. Y. Baur, Willis S., 316 S. LaSalle St., Board of Trade Bldg. Becker. Paul M., 231 S. LaSalle St. Brown, Douglas, E., 231 S. LaSalle St. Brown, J. Dorsey. 4306 Greenway. Baltimore. Md. Brown, Joseph P., 120 S. LaSalle St. Brown, Scott, 120 S. LaSalle St. Bryan, Benj. B., Jr., 999 Sheridan Road, Lake Forest. Ill. Buhler, Walter J., 120 S. LaSalle St. Bullard Sellar, Goleta, Calif. Burdick, John R., Jr., 208 S. LaSalle St. Burel, Robert L., 1400 Lake Shore Drive. Burmeister, Jno. C., Jr., 231 S. LaSalle St. Byrne, Edward J., 120 S. LaSalle St. Cahn, Morton D., 120 S. LaSalle St. Cardona, Raymond, Great Northern Hotel. Carter, Ford R., 120 S. LaSalle St. Cavaney, James A.. 332 S. LaSalle St. Chambers (Henning) & Co., 431 W. Jefferson St., Louisville, Ky. Chapin, S. B. & Co., 209 S. LaSalle St. Church, George F„ 38 S. Dearborn. Clayton, Gilbert M., 332 S. LaSalle St. Cleary & Co., 120 S. LaSalle St. Cleland, Karsner, 120 S. LaSalle St. Clement, Austin A., 231 S. LaSalle St. Clement, Curtis & Co.. 231 S. LaSalle St. Clucas, E. W., & Co., 70 Pine St., New York, N. Y. Coleman, Clarence L., 58 E. Washington St. Collins, Timothy A., 231 S. LaSalle St. Cook, Charles K., 40 Wall St., New York. Cotton, Earl H., 141 W. Jackson Blvd. Coultr.v, Gilbert H„ 120 S. LaSalle St. Craigie, James, 120 S. LaSalle St. Creitz, Lee M., 231 S. LaSalle St. Curran, Peter A., 105 S. LaSalle St. Currier, Jefferson D„ 208 S. LaSalle St. Cutten, Arthur W., (Estate of), 231 S. LaSalle St. Daniels, Roy I., 141 W. Jackson Blvd. Dart and Company, 500 Penobscot Bldg., Detroit. Davis, Maurice, 141 W. Jackson Blvd. Davis, Paul H. & Co., 10 S. LaSalle St. Further information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list in each city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1651 CHICAGO STOCK EXCHANGE—Continued MEMBERS—Continued Davis, Robert C., 320 Cresent St., Cedar Rapids, Iowa. Dean, J. Clarke, 120 S. LaSalle St. deConingh, Peter C., 5480 Cornell Ave. Dixon, Joseph F., & Co., 105 S. LaSalle St. Dltt, Paul C. & Co.. 120 S. LaSalle St Doering Otto C., 333 N. Michigan Ave. Dominick & Dominick, 115 Broadway, New York, N. Y. Doty, Arch C„ 105 W. Adams St. Dougall, Chancellor, 10 S. LaSalle St. Edgerton, John J., 61 Broadway, New York. Edwards, A. G„ & Sons, 409 N. Eighth St., St. Louis, Mo. Eiseman, Lester M„ 7010 Paxton Ave. Eldredge, Charles H„ 208 S. La Salle St. Ernst & Company, 231 S. LaSalle St. Fabyan, George, (Estate of) Geneva, Kane Co., Ill. Falrman, Perry & Co., 208 S. LaSalle St. Faroll Bros., 141 W. Jackson Blvd. Farwell, Chapman & Co., 208 S. LaSalle St. Feinberg, Joseph H., 10 S. LaSalle St. Fenner & Beane, 141 W. Jackson Blvd. Forberg, Walter O., 814 N. Franklin St. Forschner, A. J.. 12150 Parnell Ave. Francis, Bro., & Co., 222 N. 4th St., St. Louis, Mo. Frank, A. R. & Co., 120 S. LaSalle St. Freeburne, Roy W., 1455 King St., East Hamilton, Ont., Canada. Freehling, Norman, 120 S. LaSalle St. Friedman, Brokaw & Samish, 418 Olive St., St. Louis, Mo. Frommer & Co., 338 N. Capitol St., Indianapolis, Ind. Fuller, Cruttenden & Co., 120 S. LaSalle St. Furness, Thomas F., Ill S. LaSalle St. Keefe, John G„ Route 3, Antioch, Ill. Kinsman, Charles E„ 245 Claremont St„ Elmhurst, Ill. Knight, Newell S.. 208 S. LaSalle St. Knobles, Joseph L., (Estate of) 38 Gautier Ave., Jersey City, N. J. LAMBORN, HUTCHINGS & CO., 231 S. LaSalle St. Lamson Bros. & Co., 141 W. Jackson Blvd. Lamy, Joseph F., 332 S. LaSalle St. Lamy, Raymond P., 120 S. LaSalle St. Lancton, William F., 209 S. LaSalle St. Layman, Waldo A., 134 S. LaSalle St. Lehman Bros., 231 S. LaSalle St. Lester, Carter & Co., 135 S. LaSalle St. Levy, Herbert, 209 S. LaSalle St. Liebenstein, Harold E., 120 S. LaSalle St. Lippmann, Albert F., 105 S. LaSalle St. Lizars (Rawson) & Co., 135 S. LaSalle St. Logan, Stuart, 2344 Lincoln Park West. Lowenbach, Harry J., 105 S. LaSalle St. Lowitz, E., & Co., 29 Broadway, New York, N. Y. Lyons, W. L„ & Co., 231 So. Fifth St., Louisville, Ky. Gerwig, Frank L. & Co., 135 S. LaSalle St. Giblin, Walter M., 40 Wall St., New York, N. Y. Gibson, Robert H., 235-7 Scott Blvd., Covington, Ky. Gifford, Cedric C„ 120 S. LaSalle St. Gifford, Harold C., 175 W. Jackson Blvd. Gifford, Lewis F., R. F. D. 5, Wooster, O. Glass, Walter, 135 S. LaSalle St. Mabon & Co., 1 Wall St., New York, N. Y. MacFarlane & Holley, 120 S. LaSalle St. Magner, Joseph F., 6333 Wayne Ave. Marks, Laser & Co., 231 S. LaSalle St. Masten, A. E„ & Co., First Nat’l Bk. Bldg., Pittsburgh, Pa. Matthews, Walter N„ 11 S. LaSalle St. McDermott, Francis O., 120 S. LaSalle St. McDonald, Frank E. & Co., 120 S. LaSalle St. McGhie, George, & Co., 105 S. LaSalle St. McMaster. Stewart. 120 S. LaSalle St. McMaster, Hutchinson & Co., 105 S. LaSalle St. Mellinger, Everett E„ 141 W. Jackson Blvd. Merkle, Frank P., 940 Michigan Ave., Evanston, Ill. Messick & Co., 209 S. LaSalle St. Meyerhoff, Irving E., 120 S. LaSalle St. Mills, W. S. & Co.. 120 S. LaSalle St. Mills, William S., Jr., 120 S. LaSalle St. GLOBE, FORGAN & CO., 123 S. LaSalle St. MITCHELL, HUTCHINS & CO., 231 S. LaSalle Godow, Joseph, 1000 Fulton St. Goldsmith, Edwin P., 1061 West 35ih St. Goodbody & Co., 115 Broadway, New York, N. Y. Graham & Co., 141 W. Jackson Blvd. Graham, Percy, Jr., 105 W. Adams St. Granberry & Co., 50 Broadway, New York, N. Y. Gray, Luman H., 120 Pipestone St., Benton Harbor, Mich. Grennan, Philip H., (Est. of) Russell at Medbury, Detroit, Mich. Griffin, John J., 316 S. LaSalle St. Gross, Gilbert, 120 S. LaSalle St. Guild, David D„ 120 S. LaSalle St. Hachtmann, George E., 10 S. LaSalle St. Haerther, William W., 22 W. Monroe St. Halle & Stieglitz, 25 Broad St., New York, N. Y. HALL GARTEN & CO., 120 S. LaSalle St. Hamlin, Edward M., 75 Federal St., Boston, Mass. Hannah, James A., 210 N. Talman Ave. Hansen, Howard S., 2523 Central St., Evanston, Ill. Hardenbrook, Burt W„ 38 S. Dearborn St. Harris, Burrows & Hicks, 135 S. La Salle St. Harris, Upham & Co..135 S. La Salle St. Harrison, Arthur C„ 33 S. Clark St. Harrison, O’Gara & Co., 209 S. LaSalle St. Hebert, Louis A., 141 W. Jackson Blvd. Hemphill, Noyes & Co., 141 W. Jackson Blvd. Hermes, John P., 332 S. LaSalle St. Hill & Co., 2020 Carew Tower, Cincinnati, Ohio Hill, Harvey T„ 120 S. LaSalle St. Hilliard, J. J. B. & Son, 419 W. Jefferson St., Louisville, Ky. Hopkins, William L., 650 S. Spring St., Los Angeles, Calif. Hornblower & Weeks, 39 S. LaSalle St. Howell, Douglass & Co., Russ Bldg., San Francisco, Calif. Hoyt, Frederick T„ 160 N. LaSalle St. Hulburd, Warren & Chandler, 208 S. LaSalle St. Hummer (Wayne) & Co., 105 W. Adams St. Hutton, W. E., & Co., 1st N. Bk. Bldg., Cincinnati, Ohio. Hyman, Rae F., 135 S. LaSalle St. Iverson, Chester S„ 231 S. LaSalle St. Jablonski, August I., 120 S. LaSalle St. Jackson Bros., Boesel & Co., 26 Broadway, New York, N. Y. Jackson & Curtis, 231 S. LaSalle St. Jamieson, Stewart E„ 10 S. LaSalle St. Jelke (Frazier) & Co., 40 Wall St., New York, N. Y. Jenks, Gwynne & Co., 65 Broadway, New York, N. Y. Johns, Merrill B., 1254 S. West St., Indianapolis, Ind. Jones, Edward D., & Co., Boatmens Bank Bldg., St. Louis, Mo. Kaplan, Robert, 5801 S. State St. Karasik, Nathan, 337 E. Illinois St. Molloy, Edward P„ 135 S. LaSalle St. Molloy, John J., 135 S. LaSalle St. Molyneaux, Thomas F„ 332 S. LaSalle St. Montgomery, Scott & Co., 123 So. Broad St., Philadelphia. Pa. Moore, McLean & Co., 200 S. LaSalle St. Morse, William H., 141 W. Jackson Blvd. MOSELEY, F. S. & CO., 135 S. LaSalle St. Myers, Joseph W., 120 S. LaSalle St. Nance, Clement A., 506 S. Wabash Ave. Newman, Harry E., 209 S. LaSalle St. Norris .James, 141 W. Jackson Blvd. Norris & Kenly, 208 8. LaSalle St. Noyes, David A. & Co., 208 S. LaSalle St. Nussbaum, Bertram, Sherry Hotel. Nussbaum, Paul E„ 2346 E. 70th Place. OLIPHANT, JAS. H. & CO., 209 S. LaSalle St. Paine, Webber & Co., 209 S. LaSalle St. Patton, Joseph R. & Co., 120 S. LaSalle St. Paulman, Henry, 135 S. LaSalle St. Payne, Harry M„ 120 S. LaSalle St. Peabody, Howard B., 25 N. Franklin St. Perrill, (Alger) & Co., 231 S. LaSalle St. Phillips, Richard W„ 120 S. LaSalle St. Pierce, E. A. & Co., 105 W. Adams St. Piper, Jaffray & Hopwood, 115 So. 7th St., Minneapolis, Minn. Plamondon, A. D., Jr., 33 N. LaSalle St. Pratt, Joseph M„ 38 S. Dearborn St. Prince, F. H„ 1 Court St., Boston, Mass. Purcell, Lawrence N., 209 S. LaSalle St. Pyott, James M., 332 S. LaSalle St. Quinn, David H., 208 S. LaSalle St. Reddy, Philip J., 327 S. LaSalle St. Reid, Robert H., 10 S. LaSalle St. Reinholdt & Gardner, 400 Locust St., St. Louis, Mo. Renshaw, William B., 231 S. LaSalle St. Renwick, J. Stewart, 40 East Oak St. Reynolds & Company, 120 Broadway, New York, N. Y. Reynolds, Arthur, Jr., 1 Powell St., San Francisco, Calif. Reynolds, Maurice V., 22 West Monroe St. Richardson, Howard C., Jr., 141 W. Jackson Blvd. Riter & Co., 134 S. LaSalle St. Roach, Edward A., 120 S. LaSalle St. Rodger, Arthur T„ 10 S. LaSalle St. Roeder, Joseph A., 20 N. Wacker Drive. Rogers, Frank E., 7134 Bennett Ave. Rosenfield, John M„ 120 S. LaSalle St. Rothschild & Co., 105 W. Adams St. Russell, Brewster & Co., 135 S. LaSalle St. Ryan & McManus, 39 Broadway, New York, N.Y. Sadler & Co., 105 S. LaSalle St. Sawyer, R. B., 1031 Maple Ave., Evanston, Ill. Schenck, Robert F„ Jr., 10 S. LaSalle St. Schmaltz, James J., 327 S. LaSalle St. Schroth, Theodore F„ 400 Locust St., St. Louis, Mo. Schroth, Wilbur H„ 120 S. LaSalle St. 8chuberth, Wm. A. & Co., 120 8. LaSalle St. Scobie, David P., 175 W. Jackson Blvd. Seaverns, George A., Jr., 164 W. Jackson Blvd. Seckel, Albert, 1 N. LaSalle St. Sharp, Edward L., 231 S. LaSalle St. Shearson, Hammill & Co., 208 8. LaSalle 8t. Shields & Company, 135 S. LaSalle St. Shimmin, Robert P. & Co., 135 S. LaSalle St. Shipley, Charles A., 120 LaSalle St. Siegel, William, 231 S. LaSalle St. Simon, I. M„ & Co., 315 N. 4th St., St. Louis, Mo. Simons, Alex McD., 141 Jackson Blvd. Simpson, William B., 1300 N. Branch St. Sincere, Charles & Co., 231 8. LaSalle St. Slaughter, A. O., & Co., 120 S. LaSalle St. Smart, R. H. & Co., 141 W. Jackson Blvd. Smith Bros & Co., 29 S. LaSalle St. Smith, Solomon A., 50 S. LaSalle St. Smith, Walter B„ 50 S. LaSalle St. Solomon, Frank, P. 0. Box 5968, Cleveland, Ohio Solomon, Leslie J., 223 W. Jackson Blvd. Spicer, Henry S„ Pigott Bldg., 36 James St., So., Hamilton, Ontario, Canada. Spinney, Fred, 141 W. Jackson Blvd. Stannard, Frederick J., 120 S. LaSalle St. Stearns, David P., 2407 Bennett Ave., Evanston. Stein Bros. & Boyce, 6 S. Calvert St., Baltimore, Md. Stein, Brennan & Co., 9 S. LaSalle St. Stein, Irving C., 231 S. LaSalle St. Sterling, Louis V., 42 Broadway, New York. 8toddard & Boy den, 120 8. LaSalle St. Strick, Charles A., 135 S. LaSalle St. Strom, Eugene N„ Golden Beach, Hollywood, Fla. Struby, Walter V., (Estate of) 216 Colorado National Bank Bldg., Denver, Colo. Stuart, Harold L„ 201 S. LaSalle St. SUTRO BROS. & CO., 134 S. LaSalle St. Swift, Henke & Co., 168 W. Monroe St. Talcott, Potter & Co., 141 W. Jackson Blvd. Teegarden, Frank W„ 120 S. LaSalle St. Templeton’s Sons, J. S„ 141 W. Jackson Blvd. Thompson, Arthur R., 120 S. LaSalle St. Thomson & McKinnon, 316 8. LaSalle St. Thorn, King C., 2117 Lincolnwood Drive, Evans ton, Ill. Thorson & Stewart, 120 S. LaSalle St. Turner, Alfred E., at Winthrop, Mitchell & Co., 141 W. Jackson Blvd. Turner, Tracy L„ 232 E. Walton Place. Underwood, Morgan P., 231 S. LaSalle St. Vehmeyer, Henry L., 209 S. LaSalle St. Vose, Hamilton, Jr., 450 W. Superior St. Wachenheim, Donald, 105 W. Adams St. Waldheim, Platt & Co., 308 No. Eight St., St. Louis, Mo. Walker, G. H., & Co., 503 Locust St., St. Louis, Mo. Walker, William T., 1304 Penobscot Bldg., Detroit, Mich. Wamboldt, Melvin P., 222 North Bank Drive. Warner, Addison, & Co., 39 S. LaSalle St. Watling, Lerchen & Hayes, Buhl Bldg., Detroit, Mich. Webster, Marsh & Co., 209 8. LaSalle St. Webster, Virgil C., 120 S. LaSalle St. Weinress & Co., 231 S. LaSalle St. Wheeler, John E., & Co., 105 S. LaSalle St. Wilcox & Co., 14 Wall St., New York. Williams, Lucian E„ 231 S. LaSalle St. Williams, Mackenzie, 52 Broadway, New York. Wilson, Harold C., 7446 Indiana Ave. Wilson, Hugh H„ at David A. Noyes & Co., 208 S. LaSalle St. Wilson, Robt. C., 5128 Hyde Park Blvd. Winter, Wallace C., 120 S. LaSalle St. WINTHROP, MITCHELL & CO., 141 W. Jackson Blvd. Witter (Dean) & Co., 45 Montgomery St., San Francisco, Calif. Wollman, W. J., & Co.,'120 Broadway, New York, N. Y. Wood, R. Arthur, 231 S. LaSalle St. Woodruff, Harvey T„ 425 Grove St., Evanston, Ill. Wortman, Glen R., First National Bank Bldg., Aurora, Ill. Wright & Sexton, 1 Wall St., New York, N. Y. Wright, Warren, 33 N. LaSalle St. Young, Clarke & Company, 215 W. 7th St., Los Angeles, Calif. Zeiler, F. M. & Co., 209 S. LaSalle St. Portlier information on firms appearing In bold face type will be found In the selected list of Investment Dealers following bank list In eaeh city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1652 STOCK EXCHANGE MEMBERS LOUISIANA NEW ORLEANS STOCK EXCHANGE Officers: Allen C. Huggins, President; H. M. Butler, 1st Vice-President; George J. Krummel, Secretary; Geo. H.Nuslocli, Snd Vice-President; Emmett C. Meyer, Assistant Secretary. Jeffrey Steinhardt, Treasurer BATES OF COMMISSIONS Established by the New Orleans Stock Exchange. To be charged on all Transactions. 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......... ..................$2.60 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)4 cts. pershare From $10.00 up to $25.00 per share.............................. .12)4 cts. pershare From $25.00 up to $50.00 per share.......... ..........................15 cts. pershare From $50.00 up to $75.00 per share............................. .17)4 cts. pershare From $75.00 up to $100.00 per share..................................25 cts. pershare 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. The minimum commission of $2.00 on any one transaction shall not apply on transactions in (a) U. S. Government bonds; (b) any bonds guaranteed THE MINIMUM CHARGE ON ANY ONE Airey & Richardson. 816 Union St. Barriere, E. Percy, 708 Carondelet Bldg. Beer & Co., 817 Gravier St. Bruning, H. J., 1006 Gravier St. Butler, H. M„ 1303 Canal Bank Bldg. DANE & WEIL, Inc., 1528 Canal Bk. Bldg. Feibleman, T. J., 210 Carondelet Bldg. Fenner & Beane, 818 Gravier St. Fowler, H. W., 214 Balter Bldg. Glenny, E. B„ 736 Whitney Bldg. Gumbel, Herbert, 610 Maritime Bldg. by the U. S. Government; (c) any class of bonds maturing within six months. ♦By resolution of the Governing Committee it is permissible for members to charge on these issues the minimum commission prevailing thereon on the other exchange on which these bonds are listed. On 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 $5.00 as a minimum charge. On rentals for periods less than one year the commission shall be pro-rated* provided no commission less than $5.00 shall be charged. TRANSACTION SHALL BE $2.00 MEMBERS Jones, Larz A., I. C. R. R. (Union Station). Jones, Larz E., 319 Hibernia Bank Bldg. Lamar, Kingston & Labouisse, 1247 Canal Bk. Bldg. Moore & Hyams, 610 Common St. Mysing, A. W., 740 Gravier St. Mysing, W. A., 5133 St. Charles Ave. _ , Nusloch, Baudean & Smith, Inc., 827 Hibernia Bank Bldg. Ogden, Fred N., 403 American Bank Bldg. Pierce & Co., E. A. Maritime Bldg. Poupari, S. J., 823 Perdido St., (Room 202). Reinach, Solomon, 740 Gravier St. Schulze, C. H., 1831 S. Dupre St. Steinhardt, Jeffrey, 730 Gravier St. Uhlhorn, C. L„ 636 Whitney Bldg. Villere & Co., St. Denis J., 552 Canal Bk. Bldg. Vincent, Hugh E„ 301 Vincent Bldg. Waters & Alcus, 811 Whitney Bldg. Weil & Co., Inc., (Arcade), Union Bldg. Wells & Stanton, 408 Cotton Exchange Bldg. Wheeler & Woolfolk, 724 Common St. Wolfe, Robt. R., 717 Carondelet Bldg. Woolfolk, Huggins & Shober & Co., 839 Gravier St. MARYLAND BALTIMORE STOCK EXCHANGE (208 E. Redwood St.) Officers: Chas. W. L. Johnson, President; Henry G. Riggs, Vice-President; Theodore Gould, Secretary-Treasurer BATES OF COMMISSION Published December 15.1936 The minimum commission rate to non-members on any stock traded in on the Baltimore Stock Exchange and also on any other National Securities Minimum Commissions on Stocks Selling at Prices Below NonExchanges may, at the option of the member, be the Baltimore minimum Members commission rate or the minimum commission rate prescribed on such other National Securities Exchange. Under 10c a share........................................................ ................... lc The minimum commission charged on any completed individual trans action in stocks shall be not less than $2.50, except that the commission At 10c a share and above, but under $1............................ 3c charge on any such transaction involving a total amount of less than $50.00 At $1 a share and above, but under $10........... 7)4c but not less than $15.00 shall not be less than $1.00. When the amount involved is less than $15.00 the commission may be mutually agreed upon. At $10 a share and above, but under $50.................................... 15c Commissions on rights shall be the same as those fixed for stocks. At $50 a share and above, but under $100........................... 25c Minimum Commissions on Bonds Selling at Prices Below NonAt $100 a share and above, but under $150.................................. 40c Members At 10 ($100 per $1,000 par value) or above................................. $2.50 At $150 a share and above, but under $200. —......................... 50c Under 10 ($100 per $1,000 par value)_____________________ $1.25 At less than 1 ($10 per $1,000 par value).................... .......... . 62)4c At $200 a share and above............................................................ M % Except that on bonds having five years or less to run to maturity of amount and selling at 96 and above, but not above 110, the rates shall be $1.25 of transaction The minimum commission charge on any transaction in bonds shall be $2.50. Abell, Walter W., 2nd, Stock Exchange Bldg. Edward D. Allen & Co., 209 Keyser Bldg. BAKER, WATTS &, CO., Calvert and Bedwood Sts. Baker, Wm. G., Jr., Calvert and Redwood Sts. C. D. Barney & Co., Ill Redwood St. Bell, Vernal W„ 207-8 Keyser Bldg. Binford, Charles T., 10 South St. Thomas S. Blocher, 802 Union Trust Bldg. Block, Simon J., 201 Keyser Bldg. Block, Simon J., & Son, 201 Keyser Bldg. Alexander Brown & Sons, 135 E. Baltimore Street. Brown, J. Dorsey, 404 Stock Exchange Bldg. Bruton & Co., 1520 Munsey Bldg. Bruton, M. L., 1520 Munsey Bldg. Frank B. Cahn & Co.. 8 S. Calvert St. Douglas G. Carroll & Co., 107-108 Stock Exchange Bldg. Cassilly, Thos. A. Jr., Stock Exchange Bldg. Castles, John W„ 111 E. Redwood St. J. C. Cooper & Co., 300 Stock Exchange Bldg. Cooper, J. Crossan, 300 Stock Exchange Bldg. Daly Owen & Co., 23 South St. Davies, H. L., 500 Stock Exchange Bldg. Drewry, Cooper R., Stock Exchange Bldg. Duer, Henry L., 500 Stock Exchange Bldg. Elder, Wm. Voss, Jr., 209 Keyser Bldg. Evans, Henry C„ 6 S. Calvert St. Fahenstock, Albert, Stock Exchange Bldg. D. Fahenstock & Co., 403 Stock Exchange Bldg. J. Harmanus Fisher & Sons, 10 South St. Robert Garrett & Sons, South and Redwood Sts. Theodore Gould, 405-6 Keyser Bldg. MEMBERS Howell, Griswold B., Jr., 135 E. Baltimore St. Haxail, J. Triplett, c/o C. W. L. Johnson, 20 Stock Exchange Bldg. John D. Howard & Co., South and Redwood Sts. W. E. Hutton & Co., 1st N. Bk. Bldg. Iglehart, Joseph A. W., First National Bank Bldg. Jenkins, T. Courtenay, 10 South St. Jenkins, Whedbee & Poe, 10 South St. Johnson, Chas. W. L. 508 Stock Exchange Bldg. Jones, Elisha Riggs, 402 First National Bank Bldg. E. R. Jones & Co., 402 First National Bank Bldg. Jones, John Marshall Jones, 225 E. Redwood St. Koppelman, Walter, 219 E. Redwood St. Kriegel, Leo, 500 Stock Exchange Bldg. W. W. Lanahan & Co., Calvert Bldg. Lanahan, W. Wallace, Calvert Bldg. Legg, John C., Jr., 222 E. Redwood St. Leimbacb & Co., 7 St. Paul St. Leimbach, Walter G„ 7 St. Paul St. Lemoine, Oscar M., South and Redwood Sts. Lockwood, Peck & Co., 708 Keyser Bldg. Mackubin, George, 222 E. Redwood St. MACKUBIN, LEGG & CO., 222 E. Redwood St. Marburg, Frances G„ 502 - 5 Keyser Bldg. Marburg, Price & Co., 503-4 Keyser Bldg. Matthews, T. Stockton, South and Redwood Sts. Mead, W. Carroll, 1601 First National Bank Bldg. Mead, Irvine & Co., 1601 First National Bank Bldg. Morgan, Shirley C„ Equitable Bldg. Murphy & Co., G.—M. P., Calvert Bldg. Alex C. Nelson & Co.. 508 Stock ExchangeBldg. Nelson, Alex C., 508 Stock Exchange Bldg. Poe, Philip L., 105-106 Stock Exchange Bldg. Philip L. Poe & Co., 205 E. Redwood St. Post, George B„ Jr., 101-3 Stock Exchange Bldg. Post & Flagg, 101-3 Stock Exchange Bldg. Riggs, Henry G., 32 South St. Riordan, John J., Jr., 1513 Fidelity Bldg. John J. Riordan, Jr. & Co., 1513-14 Fidelity Bldg. Rogers, C. Holden, 10 South St. Rosenburg, Abel A., c/o Mackubin, Legg & Co., 222 E. Redwood St. Schwarz, Howard S., 202 Keyser Bldg. 8chwarz, Morton & Schwarz, 202 Keyser Bldg. Scott, Geo. M., Stock Exchange Bldg. Soper, Harry B., 312 Vickers Bldg. Harry B. Soper & Co., 312 Vickers Bldg. Stein Bros. & Boyce, 6 S. Calvert St. Stein, Julian S., 6 S. Calvert St. Stewart C. Morton, Calvert and Redwood Sts. Strother. Brogden & Co., Calvert and Redwood Sts. Taylor, Howard R., 107 Stock Exchange Bldg. Howard R. Taylor & Co., 107-8 Stock Exchange Bldg. Thompson, R. L„ 308 Vickers Bldg. Tilden, Marmaduke, 708 Keyser Bldg. Weilepp, Walter M„ 207-8 Keyser Bldg. Westheimer & Co., 211 E. Redwood St. Westheimer, Henry F., 211 E. Redwood St. Whedbee, James S., 10 South St. Wheeler, J. Harold, 101-3 Stock Exchange Bldg. Whelan, Thos. A., Jr., 222 E. Redwood St. Henry White & Co., 1414 Fidelity Bldg. White, Henry M„ 1414 Fidelity Bldg., Whiteley, T. Evans, Stock Exchange Bldg. Whitridge, William, Garrett Bldg. Whltridge, John A. & Son, Garrett Bldg. Wilson, J. Sawyer, Jr., Calvert Bldg. 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 1653 STOCK EXCHANGE MEMBERS MASSACHUSETTS BOSTON STOCK EXCHANGE Officers: William B. Long, Pres. Stephen Paine, Viee-Pres. George A. Rich, See. Mark R. Hodges, Tr. MINIMUM BATES OF COMMISSION In Effect July 7, 1932 Selling at $25 or above, but under $50.................... Selling at $50 or above, but under $75.................... Selling at $75 or above, but under $100.................. Selling at $100 or above, but under $200............. Selling at $200 or above, but under $250............. For each additional $50 or part thereof above $250 BONDS Railroad, public utility and industrial bonds, having more than five years to run— Selling at less than $10, on a par value of $1,000.............................Optional Selling at $10 and less than $100 on a par value of $1,000.................. $1.25 Selling at and above $100 on a par value of $1,000............................... 2.50 (Government Bonds are exempt from the regular rate) ........... 15 cents ........... 17Yi cents ........... 20 cents ........... 25 cents ........... 30 cents 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. STOCKS PER SHARE Selling below 50c............ —..................................... .......................... Optional Selling at 50o or above, but under $1.............................................. 1 cents Selling at $1 or above, but under $5........................................... 5 cents Selling at $5 or above, but under $10............................................. 7^6 cents Selling at $10 or above .but under $25..........................................12H cents On subscription Rights; Bonds or Notes of Foreign Countries having five years or less to run; Notes of Corporations having five years or less to run; Bonds having five years or less to run; such rates to members or 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. MEMBERS Adams, L. Sherman, 10 Post Office Square Adams, Weston W., 15 Congress St. Amsdem, Malcolm F., 53 State St. J. S. BACHE & CO., 10 Post Office Square. Baldwin & Co., 30 Federal Street. Batchelder, Hanrahan & Co., State Mutual Bldg., Worcester, Mass. Besse, Harry W. & Co., 89 State St. Blake Bros. & Company, 111 Devonshire Street. Bolles, Richard F., 35 Congress St., Room 1003. Bowen, J. W. & Co., 53 State Street, Rooms 27, 28. Boyden, Charles, 50 Congress St., Room 628. Bradley, Edward M„ 215 Church St., New Haven. Conn. Brannan, Wm. J., 75 Federal St. Brickley (Parker, A.) 296 Temple, West Roxbury. Bright, Elmer H. & Co., 84 State Street. Bright, Sears & Co., 53 State Street. Brown Brothers Harriman & Co., 10 P. O. Square. Brown, Waldo M., 31 Milk St. Brown, Walter J., 53 State St., Room 405. Burr, Gannett & Co., 53 State Street. Buss, Walter H., 53 State St. Butterfield, Chas. B„ 53 State St., Room 36B. Cahill, Richard M. F„ 53 State St. Claflin, William H., 84 State St. Clark, Dodge & Co., 70 Federal Street. Collins, Breed & Co., Shawmut Bk. Bldg. Colwell & Co., 209 Washington Street. Cousens, Foster, & Co., 53 State St. Crocker, Percy G. & Co., 35 Congress Street. Dabney, F. L. & Co., 10 Post Office Sq. Dabney, Frederick L„ 53 State St., Room 439. Davis & Davis, 10 Weybosset St., Providence, R. I. DAT, R. L. & CO., H Milk Street. Dean, James, 201 Devonshire St., Room 631. Doyle, John F„ 70 Federal St. ESTABROOK & CO., 15 State Street. Pales, T. C. & Co., 140 Federal Street. Fay, S. Prescott, Framingham Centre, Mass. Fernald, Geo. A., 100 Milk St. Fernaid, Lloyd D„ 3d Nat’l Bank Bldg., Springfield, Mass. Foster, Hatherly, Jr., 85 Devonshire St. Foster, John K., 53 State St. Hagen, T. F. & Co., 53 State Street, Room 36A. Gilbert, Edward W„ 53 State St., Room 36 B. Giroux, Archibald R., 53 State St., Room 36B. Gray & Wilmerding, 31 Milk St. Griffin, James F. & Co., 53 State Street, Room 36A. Griffith, Norman H„ 60 Congress St., Room 411 Mott, Louis P. &Co., 80 Federal Street, Room 308 Newman, Harding C„ 10 Post Office Square. Paine, Webber & Co., 82 Devonshire Street. Parkinson, Nathaniel E., 53 State St. Pierce, E. A. & Co., 45 Milk Street. Hammond, James R., 30 State St. Hanlon, Gordon B„ & Co., 100 Milk St. Hayden, Stone & Co., 75 Federal Street. Hibbs, W. B„ & Co., Hibbs Bldg., Washington, D. C. Hines, Robertson & Co., 60 Congress Street. Hodgdon, Howard W., 84 State St. Hornblower, Henry, 60 Congress St. Horn blower & Weeks, 60 Congress St. Hovey, Chandler, & Co., 82 Devonshire Street, Room 326. Hubbard, Richard, 10 Post Office Square. Hunt, Carleton, 24 Federal St. Hutchins & Parkinson. 53 State Street. Pitman, Harold A., 53 State St., Room 1032. Poor, Stearns, 84 State St. Prince, F. H„ & Co., Court and Washington Sts. Proctor, Cook & Co., 50 Congress Street. Jackson & Curtis, 10 Post Office Square. Jenney, Wm. T., 84 State St. Kelly, Michael A., 84 State St. KIDDER, PEABODY & CO., 115 Devonshire Street. Kingsbury, Thayer, Keene, N. H. Kinsley & Adams, 6 Norwich St., Worcester, Mass. Kitchlng, E. J. & Co.. 75 Federal Street. Laidlaw & Co., 110 Franklin Street Lee, Frederic M., 53 State St., Room 36A. Lee, Higginson & Co., 50 Federal Street. Leland, John D., 110 Franklin St. Logan & Bryan, 42 Broadway, New York, N. Y. Long, Harry V., 10 Post Office Square. Long & Nash, 10 Post Office Square. Lord, George F„ 18 Wave St., Lynn, Mass. Lund, Chas. G., 110 Franklin St. Pitcher, Osborne H., Ill Devonshire. Reed, Jacob, 8 Foster St., Worcester, Mass. Rich, Geo. A., 53 State St. Sanford & Kelley, 20 Market St., New Bedford, Mass. Schirmer, Atherton & Co., 79 Milk Street. Sears, Winslow, 68 Devonshire St. Sears & Co., 68 Devonshire St. Sewall, R. Lentner, 60 State St. Shaw, Alexander A., 53 State St., Room 36B Simmon, David A., & Co., 10 Post Office Square. Smith, Edward B. & Co., Ill Devonshire St. Smith, James P. & Co., 1387 Main St., Springfield, Mass. Southgate & Co., 185 Devonshire St. Stevens, Samuel W., 45 Milk St. Thomson & McKinnon, 10 Post Office Square. Thorndike & Allen, 53 State Street, Room 310. Thornquist, Carl J., 53 State St., Room 36B. Tifft Brothers, 50 Congress Street. Tobey, Walter P., 84 State St. Todd, Charles Lee, Jr., Ill Devonshire St. TOWNSEND, ANTHONY & TYSON, 30 State Street. Treadwell, James R., 53 State St., Room 203. Tucker, Anthony & Co., 74 State Street. Wainwright, H. C. & Co., 60 State Street, Room 101. MOSELEY, F. S. & CO., 50 Congress Street. Webber, Ralph B„ 53 State St„ Room 36B. Whitney. Byam & Co., 53 State Street, Room 633. Whitney & Elwell, 30 State Street. Wiggin, Russell B., 53 State St., Room 36B. Williams, Robert W., 53 State St., Room 36B. Winsor, Kennard, 115 Devonshire St. Worthen, Nathaniel T„ 68 Devonshire St. Wrenn Bros. & Co., 30 Federal Street. Moseley, Frederick S„ 50 Congress St. Yerxa, John E., 30 State St. Mann & Gould, 35 New Derby St., Salem, Mass. Monahan, Edward C., 50 Congress St. Montgomery, Wm. P., Jr., 53 State St. Moors & Cabot, 111 Devonshire Street. Moran, John J. & Co., 53 State Street, Room 636. Morgan, J. P„ & Co., 23 Wall St., New York, N. Y. Further Information on firms appearing In bold face type will be found in the selected Ust of Investment Dealers following bank Ust In eacb city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1654 STOCK EXCHANGE MEMBERS MICHIGAN DETROIT STOCK EXCHANGE (415 Griswold St.) Officers: Frederick J. Winckler, President; George A. Miller, Vice-President; Clark J. W. Colby, Secretary; L. C. Angstrom, Treasurer. COMMISSION 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 •c per snare. Stocks selling at $1.00 per share and above, but under $10.00, not less than 7J4c per share. than°12j/c pe/share10'00 P6r share and ab0Te* but Dnder 525.00, not less BATES 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 17J4c per share. The minimum commission on all transactions in listed securities shall not be less than $3.00 to individuals and $2.00 to institutions, except in cases where the amount involved is $50.00 or less, the minimum commission may then be, at the discretion of the member, $2.00 to individuals and $1 00 to institutions. .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. jcux caiiu auuiiiuuai m price, oc additional. MEMBERS Alison & Co., 244 Buhl Bldg. Angstrom, Lawrence C., 904 Penobscot Bldg. BACHE, J. S. & CO., 735 Griswold St. Baker, Simonds & Co., 1134 Buhl Bldg. Balcom, Yorke R„ 1464 Penobscot Bldg. Beane, A. C„ 67 Broad St., New York, N. Y. Beard, Frederick H., 866 Penobscot Bldg. Bennett, Smith & Co., 640 Griswold Street. Bollinger, Paul T„ 1904 Penobscot Bldg. Brown, John L. & Co., 2966 Penobscot Bldg. Brown, Orman E., 1464 Penobscot Bldg. Butler & Co., J. M„ 328 Penobscot Bldg. Crouse & Co., 1800 Penobscot Bldg. Dart & Co., 500 Penobscot Bldg. Dominick & Dominick, 314 Ford Bldg. Eis, Valette R., 244 Penobscot Bldg. Ellwood, Aaron A., 639 Penobscot Bldg. Esch, Ingo A., 120 Broadway, New York. Farrelly, Francis T„ Union National Bank Bldg., Youngstown, Ohio. Fenner & Beane, 966 Penobscot Bldg. Ferriss, W. Paul, 904 Penobscot Bldg. Ferriss, Wagner & Miller, 1444 Buhl Bldg. Field, McDonald & Co., 1000 Buhl Bldg. Goodbody & Co., 1 Penobscot Bldg. Goodbody, John L., 115 Broadway, New York, N. Y. Grady & Company, 2056 Penobscot Bldg. Gray, Hugh M., 1866 Penobscot Bldg. Hague, Samuel, 1446 Penobscot Bldg. Hay, Ivan C. & Co., 1753 Union Guardian Bldg. Hentz, H. &. Co., Union Guardian Bldg. Hinshaw, Joseph, 344 Buhl Bldg. Hornblower & Weeks, 244 Penobscot Bldg. Hull, Oscar C„ 1104 Dime Savings Bank Bldg. Hulburd, Warren & Chandler, 208 S. LaSalle St., Chicago, Ill. Humphries, Angstrom & Co., 904 Penobscot Bldg. HUTTON, W. E. & CO., Fisher Bldg. Keane & Co., 1866 Penobscot Bldg. King, Boug, Stodgell & Co., 224 Penobscot Bldg. Kreidler, Chas. A., 244 Buhl Bldg. Larzelere. Joseph E., 224 Penobscot Bldg. Lawson & Knight, 1956 Penobscot Bldg. Lee & Co., William M., 613 Ford Bldg. Lewine, Jerome, Hanover Square, New York, N. Y. Livingstone, S. R. & Co., 2664 Penobscot Bldg. MacCrone, Edw. E„ 1356 Penobscot Bldg. Marks, A. L„ 314 Ford Bldg. Marks, Burton, 137 Penobscot Bldg. McDonald, Claude G„ 1000 Buhl Bldg. McLean & Co., John F., 1806 Penobscot Bldg Miller, George A., 1444 Buhl Bldg. Moody, Bollinger & Co., 1904 Penobscot Bldg. Moss, W. E. & Co.. 2416 Union Guardian Bldg. Moye, G. Gordon, 613 Ford Bldg. Newcomb, John J. & Co., 1464 Penobscot Bldg Noble, Herbert W., 306 Dime Bank Bldg. O’Donnell & Co., R. C„ 2166 Penobscot Bldg O’Hara, John F., 244 Buhl Bldg. Olson, Warren T„ 2416 Union Guardian Bldg. Paine, Webber & Co., 100 Penobscot Bldg Parcells, Charles A. & Co., 639 Penobscot Bldg Phelan, Jr., James J., 244 Penobscot Bldg Pierce, E. A. & Co., 1 Ford Bldg. Porter, Stuart P„ 1134 Buhl Bldg. Prentiss, John W„ 42 Broadway, New York, N.Y. Rathbun, Babbitt & Co., 866 Penobscot Bldg. Reid, Andrew C„ 2232 Union Guardian Bldg. Reilly & Co., R. W., 1166 Penobscot Bldg. Roney, Wm. C. & Co., 2232 Union Guardian Bldg. Rotsted, Ralph, 1753 Union Guardian Bldg. Rudel, Arthur, 1800 Penobscot Bldg. Ryan & Company, Jas. E., 2526 Union Guardian Bldg. Schlachman & Co., Max, 864 Penobscot Bldg. Seitz & Gearhart, 12 Washington St., Monroe Mich. Shader-Winckler Co., 204 Penobscot Bldg. Simonds, Ralph W„ 1134 Buhl Bldg. Small & Co., Sidney R„ 2356 Penobscot Bldg. Smith, Winthrop H., 105 W. Adams St., Chicago Soucy, Swartswelter & Co., 161 Devonshire St, Boston, Mass. Stanton, Frederick W., 1020 Fisher Bldg. Steinberg, Nathan, 500 Penobscot Bldg. Stern, Morton F., 42 Broadway, New York, N.Y. Stewart, A. Clifton, 640 Griswold St. Stout, Gardner D., 115 Broadway, N. Y. Sutro Bros. & Co., 137 Penobscot Bldg. Walker, Wm. T., 1304 Penobscot Bldg. Watling, Lerchen & Hayes, 344 Buhl Bldg. Wedthoff & Co., Guy G., 2956 Penobscot Bldg. White, Paul G., 904 Penobscot Bldg. Whitlock, Smith & Co., 1446 Penobscot Bldg. Winckler, F. J., 204 Penobscot Bldg. Withrow, Atkinson W., 208 S. LaSalle St., Chicago, Ill. Wood, Warren A., 244 Buhl Bldg. Woodruff & Co., D. M., 1666 Penobscot Bldg. Wright, Martin & Co., 2066 Penobscot Bldg. MINNESOTA MINNEAPOLIS —ST. PAUL STOCK EXCHANGE Officers: Todd W. Lewis, President; Howard R. Selover, First Vice-President; D. H. Brown, Second Vice-President; R. M. Rice, Secretary and Treasurer. COMMISSION RATES Effective March 2,1936 Stocks selling under 50 cts. per share_______ __________ 2 cts. per share From 50 cts. to $1.00_____ ____ ________ _____ __ ___ 3 cts. per share $1.00 to $10.00__________________ 714 cts. per share $10.00 to $25.00......................... ............. _ 12J4 cts. per share $25.00 to $50.00....................... ............................. . 15 cts. per share $50.00 to $75.00____ _____________________ ____ 17 V. cts. per share $75.00 to $100.00____________________ cts. per share20 $100.00 to $200.00___________________ cts. per share25 At $200.00 and up rate increased $5.00 per 100 each points. Minimum to Individuals____ _____ ___________________________ $3.75 Minimum to Dealers__________________________________ _____$2.50 Transactions amounting to less than $50.00—commission at discretion of members. Rights—same as stocks. Bonds per $1,000.00 and less.............................................. ...... _$2.50 SPECIAL RATES ON T.C.R.T.C. NOTES Notes 25 cts. per $100.00....................................................... Minimum $1.50 MEMBER TO MEMBER—Give-up Rates. Stocks selling under 50c per share.................................. 34c per share , 50c to less than $ 1.00----------------------------%cpershare v 1.00 to less than 10.00__________________ 2cpershare 10.00 to less than 100.00_________________ 3Cpershare 100.00 to less than 150.00_________________________ 4cpershare 150.00 and over..,.---------------------------------------------------- 5c per share Minimum 50c for stocks selling under $10.00 per share. Minimum $1.00 for stocks selling at $10.00 and over per share. Rights—Same as Stocks. Bonds per $1,000.00 and less—50c. Notes—50c per $1,000.00 or any part.................................. Minimum $1.00 Names not given-up on any Stocks, Bonds, etc. Minimum—double the give-up rate. MEMBERS ALLISON WILLIAMS CO., 1245 Northwest Bank Bldg., Minneapolis. Bigelow-Webb & Co., 1st Nat’l-Soo Line Bldg. Minneapolis. Greenman, McGuire & Driscoll, Inc., 1408 E. 1st Natl. Bk. Bldg., St. Paul. Harris-Upham & Co., 11 Wall St., New York, N. Y. Kalman & Company, 144 Endicott Bldg., St. Paul. Lewis & Co., 601 Second Ave. Minneapolis. Mahoney & Co., C.D., 504 Roanoke Bldg., Minne apolis. Molyneaux, J. J., 15 S. 5th St., Minneapolis. Paine, Webber & Co., Rand Tower, Minneapolis. PIPER, JAFFRAY & HOPWOOD, 529 2nd Ave., So., Minneapolis. Rice, Robert M., 630 Marquette Ave., Minne apolis. Selover, H. R., & Co., 500 Roanoke Bldg., Minne apolis. Smith & Co., Wharton C., 104 E. 6th St., St. Paul. A. 0. Slaughter & Co., 14 Wall St., N. Y. Thrall West Co., 110 Northwest National Bank Bldg., Minneapolis. Wells-Dickey Company, McKnight Bldg., Minne apolis. Wood, Harold E„ & Co., W. 2662 1st Nat’l Bk. Bldg., St. Paul. WOODARD-ELWOOD & Tower, Minneapolis. CO., 840 Rand 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 1655 STOCK EXCHANGE MEMBERS MISSOURI ST.LOUIS STOCK EXCHANGE Officers: B. F.Jacobs, President; W. M. Louderman, Secretary and Treasurer. J. W. Reinholdt, Jr., Vice-President; Chas. A.Huebner, Assistant Secretary. BATES OF COMMISSION STOCKS Stocks selling at $1.00 per share or less, $2.00 per 100 shares. Stocks selling at $1.12}4 per share and less than $3.00 per share, $3.00 per 100 shares. Stocks selling at $3.00 per share and less than $5.00 per share, $5.00 per 100 shares. Stocks selling at $5.00 per share and less than $10.00 per share, $7.50 per 100 shares. Stocks selling at $10.00 per share and less than $25.00 per share, $0.12^ per share. Stocks selling at $25.00 per share and less than $100.00 per share, $0.25 per share. Stocks selling at $100.00 per share and less than $300.00 per share, $0.50 per share. Stocks selling at $300.00 per share and less than $500.00 per share, $0.75 per share. Stocks selling at $500.00 per share and over, $1.00 per share. BONDS On bonds, $2.50 per $1,000 par value. U. S. Bonds, $0.62^ Per $1,000 par value. The minimum commission to be charged shall be $1.00. MEMBERS Aid, John A„ 400 Olive St. Barklage, Louis, 317 N. 4th Street. Bauer Bros. Brokerage Co., 312 North 4th Street. Bennett, Jas. E. & Co., 705 Olive Street. Berger-Cohn & Co., Landreth Bldg. Brown, Paul & Company, Paul Brown Bldg. Crago, Hitchcock & Co., Security Bldg. Daly & Craib, 9th and Locust. D’Oench, Duhme & Co., Franklin-Am.Tr.Bldg. EDWARDS, A. G. & SONS, 409 North 8th St. FRANCIS BRO. & CO., 232 N. 4th St. Friedman, Brokaw & Samish, 418 Olive Street Fusz, Schmelzle & Co., Boatmen’s Bank Bldg. Gatch Bros., Jordan & McKinney, 418 Olive St. Gessler, E. A. & Son, Merchants-Laclede Bldg. Giger & Co., 211 N. 4th St. E. E. Haverstick, Jr., & Co., 346 N. Boyle Ave. Hawes & Company, Landreth Bldg. Hill Bros. & Company, Security Bldg. Jones, Edw. D. & Co., Boatmen’s Bank Bldg. Knight & Co., Harry H„ 401 Olive St. Little & Hays Inv. Co., LaSalle Bldg. Louderman, W. M., Bank of Commerce Bldg. Meyer, J. P., Chemical Building. NEWIIARD, COOK & CO., 400 Olive St. Otto, Edw. F., No. 6 Sunset Court, Normandy, Missouri. P. L. Papin & Co., Merchants-Laclede Bldg. Preiss, Wibbing & Co., Security Bldg. REINHOLDT & GARDNER, Security Building H. L. Ruppert & Co., 400 Pine Street. Seddon, Morfit & Harvey, Landreth Bldg. Semple, Jacobs & Co., Rialto Building. SIMON, I. M. & COMPANY, 315 North 4th St. Smith, Moore & Co., LaSalle Bldg. 8TIFEL, NICOLAUS & CO., Boatmen’s Bank Bldg. Stix & Company, LaSalle Bldg. Taussig, Day & Co., Boatmen’s Bank Bldg. Wade, Festus J. & Co., Columbia Bldg. WALDHEIM, PLATT & CO., 306 N. 8th St. WALKER, G. H. & CO., Broadway & Locust Streets. Whitaker & Company, 300 North 4th Street. NEW YORK NEW YORK STOCK EXCHANGE Officers: Charles R. Gay, President-, E. H. H. Simmons, Vice-President; Dean K. Worcester, Executive Vice-President; Benjamin H. Brinton, Treasurer; Robert W. Keelips, Assistant Treasurer; Ashbel Green, Secretary; J. M. B. Hoxsey, Executive Assistant to the Committee on Stock List. COMMISSION RATES Rates to Non-members, etc. On business for governing members and for parties not members of the Exchange, including joint account transactions in which a non-member is Interested; transactions for partners not members of the Exchange; the commission shall be not less than the rates given below: Sec. 2 provides that commissions shall be calculated on the basis stated below; ON STOCKS (except as to Ten-Share-Unit Stocks) See also Called Stocks below: Under 50c per share.........................................May be mutually agreed upon 60c per share and above, but under $1.00__ Not less than 3c per share $1.00 per share and above, but under $10.00_Not less than 7J^c per share $10.00 per share and above, but under $25.00. ..........................................................Not less than 12Hc per share $25.00 per share and above, but under $50.00.................. ......... ................................Not less than 15c per share $50.00 per share and above, but under $76.00............................. .............................Not less than 17Hc per share $75.00 per share and above, but under $100.00_______________ _____________Not less than 20c per share $100.00 per share and above, but under $200.00.................. ..................................... -Not less than 25c per share $200.00 per share and over______________ Not less than 30c per share plus 5c per share for each $50.00 or fraction thereof be ginning at $250.00 The minimum commission (on stocks selling at 50c and above) on an individual transaction shall be not less than $1.00. This provision shall not apply on transactions where the amount involved is less than $15.00 ON TEN-SHARE-UNIT STOCKS (as designated by the Committee of Arrangements) See also Called Stocks below: Under $1.00 per share......................................May be mutually agreed upon $1.00 per share and above, but under $5.00..Not less than 5c per share $5.00 per share and above, but under $10.OO.Not less than 10c per share $10.00 per share and above, but under $100.00.......................... .................... .........Not less than 20c per share $100.00 per share and above, but under $200.00................. Not less than 25c per share $200.00 per share and over______________ Not less than 30c per share plus 5c per share for each $50.00 or fraction thereof be ginning at $250.00 ON SUBSCRIPTION RIGHTS Under 50c per Right........................................ May be mutually agreed upon 50c per Right and above, but under $1.00..Not less than 3c per Right $1.00 per Right and above, but under $5.00.Not less than 5c per Right $5.00 per Right and above, but under $10.OO.Not less than 7^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) Under $10.00.........................................................................Not less than 75c $10.00 and above but under $100.00______________ Not less than $1.25 $100.00 and above..._____ ______________________Not less than $2.50 On Obligations of the United States, Porto Rico, Philippine Islands, and States, Territories and Municipalities therein: Bonds or Notes having five years or less to run: Securities which, pursuant to call or otherwise, are to be redeemed within twelve months: Such rates to members or non-members as may be mutually agreed upon, provided, however, that the Committee on Quotations and Commissions may determine special rates on any or all of the above mentioned securities, reporting the same to the Governing Committee. Under this authority the Committee has ruled that commissions shall be not less than the rates given below. ON BONDS OR NOTES HAVING FIVE YEARS OR LESS TO RUN, AND BONDS AND NOTES WHICH, PURSUANT TO CALL OR OTHERWISE ARE TO BE REDEEMED WITHIN TWELVE MONTHS (Per $1,000 of principal): Under $10............................... ................... .....................Not less than 75c. $10 and above but under $100____________________Not less than $1.25 $100 and above but under 96% or over 110% of the redemption price_____________________________ Not less than $2.50 Not less than 96% or more than 110% of the redemption price: Six months or more_____________________________ Not less than $1.25 Less than six months........................................May be mutually agreed upon ON CALLED STOCKS On stocks which, pursuant to call or otherwise, are to be redeemed within twelve months............................. ................... May be mutually agreed upon Farther Information on firms appearing In bold lace 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 1656 STOCK EXCHANGE MEMBERS NEW YORK STOCK EXCHANGE MEMBERS Abbott, Proctor & Paine, 120 Broadway Abraham & Co., 120 Broadway Acosta, J. A. & Co., 60 Beaver St. Adams, Merrill & Co., 36 Pearl St„ Hartford, Conn. Adler, Blumenthal & Co., 1 Wall St. Adler, Coleman & Co., 15 Broad St. Adrian, Jos. M„ 42 Broadway Ahern, John J., 61 Broadway. Alker, Carroll B., 61 Broadway. Andersen, Oswald, 115 Broadway. Anderson & Co., 120 Broadway Anderson, Henry A., 47 Broad St. Andrews, Posner & Rothschild, 26 Broadway Anness, Edw. C., 1 Wall St. Appenzellar, Allen & Hill, 120 Broadway Apy, Chester, 47 Broad St. Arnold & Company, 25 Broadway Aronson (Bernard) & Co., 30 Broad St. Arrowsmith & Co., 120 Broadway. Ash A Co., Mervin, 1 Wall St. Asher, Harry W„ Jr., 60 Beaver St. ASIEL Sc CO., 11 Wall St. Atkins, Hamill & Gates, 204 Electric Bldg., Indianapolis, Ind. Atterbury, Robert R.,44 Wall St. Auchincloss, Mills & Bergen, 80 Broad St. Auchincloss, Parker & Redpath, 719 15th St., Washington, D. C. Auerbach, Poliak & Richardson, 30 Pine St. Baar, Cohen & Company, 120 Broadway BABCOCK, RUSHTON & CO., 50 Broadway Bach, Frederick F„ 29 Broadway. BACHE Sc CO., J. 8., 42 Broadway Bacon, Stevenson & Co., 39 Broadway. Bade, William H., 40 Wall St. Baker (Alfred L.) & Co., Ill So. La Salle St., Chicago, in. Baker (J. E.) & Co., 115 Broadway Baker, Watts & Co., Calvert & Redwood Sts., Baltimore, Md. Baker, Weeks & Harden, 52 Wall St. Ballard & Co., 43 Pearl St., Hartford, Conn. Bamberger, L. Richard, 1 Wall St. Bamberger, Max, 15 Broad St. Barbee, Harry, 40 Wall St. Barclay, Moore & Co., Fidelity-Phila. Trust Bldg., Philadelphia, Pa. Barney & Co., Chas. D., 14 Wall St. BarnweU, Arthur & Co., 100 Broadway Baroni, William J., 50 Broadway. Barrett & Company, 40 Exchange Place Barth, J. & Co., 482 California St., San Francisco, Calif. Bartholomae, H. J., 47 Broad St. Bartle, William A., Jr., 1 Wall St. Bartlett, Benj. D. & Co., 313 Vine St., Cincinnati, Ohio. Baruch, Sailing W., 60 Beaver St. Baylis & Co., 42 Broadway. Bean, Chas. H. & Co., 1528 Walnut St., Phila delphia, Pa. Bear, Stearns & Company, 1 Wall St. Beardsley, Sterling S., 67 Broad St. Beauchamp, Thomas J., 40 Wall St. Becker, Sherburn M., 1 Wall St. Beekman, Wm. B. & Co., 20 Broad St. Beer & Company, 30 Broad St. Belden & Co., 61 Broadway. BeU & Beckwith, 40 Wall St. Benedict, E. C. & Co., 71 Broadway Benjamin & Ferguson, 61 Broadway Benjamin, Hill & Company, 39 Broadway Bennet (Leslie L.) & Company, 60 Broadway. BENNETT BROS. & JOHNSON, 1 Wall St. Bennett, James E. & Co., 50 Broadway Bennett & Palmer, 165 Broadway Bennett, Smith & Co., 640 Griswold St., Detroit, Mich. Berdell Bios., 1 Wall St. Berg, Eyre & Kerr, 50 Broadway Berliner & Co., 25 Broad St. Bernard, Winkler & Co., 25 Broad St. Bernheimer, Edwin E., 1 Wall St. Biddison & Co., N. D., 39 Broadway. Biddle, Whelen & Co., 1606 Walnut St., Phila delphia, Pa. Biggs, Mohrman & Co., 61 Broadway. Billings, Olcott & Company, 52 Broadway Bioren & Co., 1508 Walnut St., Philadelphia, Pa. Birdsall & Hess, 39 Broadway Bird, W. Gillette, 71 Broadway. Bishop, Allen Reynolds, 1 Wall St. Bissinger & Co., 225 Montgomery St., San Fran cisco, Calif. Blake Brothers & Co., 40 Wall St. Blauner, Simons & Co., 25 Broadway Blinn, Prosper J., 42 Broadway. Bliss, Julius, 24 Broad St. Bloch, Elmer M., 120 Broadway. Block, Myron H., 39 Broadway. Blumenthal Bros., Ill Broadway. Blumenthal, Simon B., 50 Broadway. Blun, George E., 165 Broadway. Blyth, Bonner & Kimbley, 52 Wall St. Bodell & Co., 32 Custom House St., Providence, R. I. Bogert & Co., Beverley, 120 Broadway. Bonbright, George D. B. & Co., 100 Powers Bldg., Rochester, N. Y. Bonner & Gregory, 14 Wall St. Boody, McLellan & Co., Ill Broadway Bosten, Paul R., 47 Broad St. Bouvier, Bishop & Co., 20 Broad St. Bowen, J. W. & Co., 53 State St., Boston, Mass. Bradford, J. C. & Co., Nashville Trust Bldg., Nashville, Tenn. Bradley, F. J. & Co., 1 Wall St. Bradshaw, Sydney P„ 61 Wall St. Braman, Chester A., 63 Wall St. Bramley & Smith, 52 Broadway Branch, Cabell & Co., 814 E. Main St., Richmond, Va. Brand, Grumet & Co., 120 Broadway Brand, Michael J., Jr., 47 Broad St. Brandenburg & Co., ill Broadway Braumuller, Charles, 47 Broad St. Bregman, Abner, 1 Wall St. Bretning & Co., 17 Battery Place Bright, Elmer H. & Co., 84 State St., Boston, Bright, Sears & Co., 53 State St., Boston, Mass. Brinton & Co., 61 Broadway Britt, Richard J., 25 Broadway. Brody, L. J. Stephen, 109 Killdeer Rd., Hamden, Conn. Brooks & Co., J. H.. 120 Broadway. Brooks, George G., Jr., Ill Broadway Brown, Alex. & Sons, 135 East Baltimore St., Baltimore, Md. BROWN BROTHERS, HARRIMAN & CO., 59 Wall St. Brown, Geo. Estabrook, 49 Broad St. Brown, James M. Jr., 47 Broad St. Brown, Paul & Co., Paul Brown Bldg., St. Louis, Mo. Brown, Vernon H„ 61 Broadway. Brown & Co., Vernon C., 71 Broadway. Brown & Gruner, 120 Broadway. Brumley & Anderson, 120 Broadway Bruns, Edwin G„ 11 Wall St. Bruns, Edwin G. Jr., 11 Wall St. Bryan, Penington & Colket, 48 Wall St. Buckley, John F., 47 Broad St. BULL & ELDREDGE, 39 Broadway. BURNET (W. E.) Sc CO., 11 Wall St. Burnham & Company, 40 Wall St. Burnside, Johnson & Co., 80 Broad St. Burr, Gannett & Co., 53 State St., Boston, Mass. Burton. Cluett & Dana, 120 Broadway Burton, Crawford, 65 Broadway. Bushnell, Henry Thompson, 1 Wall St. Butcher & Sherrerd, Real Estate Tr. Bldg.. Philadelphia, Pa. Butler, Herrick & Marshall, 30 Broad St. Butler, Wick & Co., Union National Bldg., Youngstown, Ohio. Buttenwieser, Clarence, 25 Broad St. Byck & Broads, 39 Broadway Byram, Hobart R., 42 Broadway. Byrne, James F., 48 Wall St. Bywater & Leary, 31 Nassau St. Cahill, Robert L., 15 Broad St. Cahn, Frank B. & Co., Equitable Bldg., Baltimore, Md. Cahn, Joel G., 30 Broad St. Callaway, Fish & Co., 15 Broad St. Campbell & Co., H. G., 52 Broadway Campbell, Oliver S., 11 Broadway. Carey, Denis J., 42 Broadway. Carey, H. T. & Co., 50 Broadway Carlebach, Herbert L., 60 Broad St. Carlebach, Walter M., 60 Broad St. Carleton, Alexander, 14 Wall St. Carlisle, Jay F. Jr., 50 Broadway. Carlisle, Mellick & Co., 50 Broadway Carmichael & Carson, 52 Wall St. Carreau & Co., 63 Wall St. Carstairs & Co., 220 So. 16th St., Philadelphia, Pa. Carstens, Geo., 42 Broadway Carter & Co., 48 Wall St. Caspary, A. H. & Co., 60 Broadway. Cassatt & Co., 40 Wall St. Cassel, H. & Co., 61 Broadway Cavalier, Wm. & Co., 121 Sutter St., San Fran cisco, Calif. Ceballos, Juan M., 42 Broadway. Chambers, Henning & Co., 431 W. Jefferson St., Louisville, Ky. Chapin, S. B. & Co., Ill Broadway Chaplin & Co., 52 Broadway Chauncey & Co., 61 Broadway Chisholm & Chapman, 52 Broadway Clapp, Howard F., 50 Broadway. Clark, Dodge & Co., 61 Wall St. Clark, E. W. & Co., Locust & 16th Sts., Phila delphia, Pa. Clement, Curtis & Co., 231 So. La Salle St.. Chicago, Ill. Clews & Co., Henry, 7-9-11 Broadway. Cloud, John K., 120 Broadway. Clucas & Company, E. W., 70 Pine St. Coddington, Dave H., 50 Broadway. Coggeshall & Hicks, 111 Broadway Cohen, Edward L., 52 Wall St. Cohen, Simonson & Co., 30 Broad St. Cohen, Wachsman & Wassail, 70 Pine Street Cohh Brothers, 24 Broad St. Coleman, Eliot W„ 42 Broadway. Coleman, Townsend P., 42 Broadway. Colgate, Jas. B. & Co., 44 Wall St. Collin, Norton & Co., Gardner Bldg., Toledo, Ohio. Collins, David M., Bowood, West Orange, N. J. Collins, John T., 50 Broadway. Condon, Edward B., 25 Broad St. Cone, Henry H. Jr., 50 Broadway. Connelly & Co., F. J., 15 Broad St. Conried & Co., 25 Broadway. Content & Co., H., Ill Broadway. Conway (Norton) & Co., 52 Wall St. Cook, Charles K„ 40 Wall St. Cooke & Co., 120 Broadway. Cooke, James F., 42 Broadway. Cooley & Co., 100 Pearl St., Hartford, Conn. Corlies & Booker, 90 Broad St. Coster, Gerard H., 1 Wall St. Coulon & Co., E. J., 50 Broadway. Coultry, Edmund C., 50 Broadway. Courts & Co., 11 Marietta St., Atlanta, Ga. Coward, Raymond A., 40 Wall St. Cowen & Co., 54 Pine St. Cox, E. Van Dyke, Jr., 42 Broadway. Craigmyle. Marache & Co., 1 Wall St. Crandell, Walter S„ 25 Broad St. Creem, John J. Jr., 61 Broadway. Cullman Brothers, 161 Front St. Cunningham, Cyril E., 42 Broadway. Curran, William G., 44 Pine St. Curtiss, House & Company, Union Trust Bldg., Cleveland, Ohio. Dabney, F. L. & Co., 10 Post Office Square, Boston, Mass. Dale, Chester, 115 Broadway. Daly & Craib, Locust & Ninth Sts., St. Louis, Mo. Daning, M. J., 60 Wall st. Dann (J. C.) Wickwire & Co., 287 Main St., Buffalo Danzig, Jerome J., 200 Fifth Ave. Davenport & Co., 1113 E. Main St., Richmond, Va. Davidson, John, 15 Broad St. Davis & Co., Fellowes, 52 Broadway. Davis & Co., J. W„ 111 Broadway. Davis & Co.. Morgan, 15 Broad 8t. Davis & Davis, 10 Weybosset St., Providence, R. I. Davis & McIntosh, lllBroadway Davis, Frank H., 47 Broad St. Davis, Paul H. & Co., 10 So. La Salle St., Chicago, Day & Co., R. L., 14 Wall St. De Coppet & Doremus, 42 Broadway DeCoppet, Robert F., 47 Broad St. de Cordova & Bro., Cyril, 25 Broad St. de Cordova, Eustace, 25 Broad St. Deery, Francis X., 25 Broad St. De Haven & Townsend, 30 Broad St. Denny, Saportas & Co., 1 Wall St. de Rham, Casimir, 115 Broadway De Veau, George P., 47 Broad St. De Voe, Dyke & Sperry, 25 Broad St. DICK & MERLE-SMITH, 30 Pine St. Dietrich & Company, F„ 1 Wall Street. Dlffenderffer & Co., 1611 Walnut St., Philadelphia, Pa. Dixon & Co., 1411 Chestnut St., Philadelphia, Pa. Dixon & Co., G. A., 42 Broadway Dobbs & Company, 50 Broadway. Dominick & Dominick, 115 Broadway Donoho, Moore & Co., 52 Wall St. Donohue, Joseph T„ 30 Broad St. Douglas & Company, F. H., 61 Broadway. Douglas, Barclay K., 50 Broadway. Douglas, Walter C., 1 Wall St. Doyle & Company, Frank, 120 Broadway Dreyfus, Benton & Nicholas, 40 WTall St. Dreyfus, Walter, 40 Wall St. Driscoll, William V., 50 Broadway. Drummond, Howard, 50 Broadway. DRYSDALE & CO., 71 Broadway Duff & Co.. J. Robinson, 1 Wall St. Duffy & Co., Edward J., Ill Broadway. Duncan, John C. Jr., 60 Broadway. Dunne & Co., John V., 19 Rector St. Dunscombe & Co., 60 Broad St. du Pont, Francis I. & Co., 1 Wall St. Durand, C. A. & Son, 15 Broad St. Durand, James F., 50 Broadway. Dyer, Hudson & Co., 61 Broadway Eastman, Dillon & Co., 15 Broad St. Eckstein, Alfred, 111 Broadway. Edge & Co., C. N„ 20 Exchange Place. Edgerton, John J., 61 Broadway. Edmonds & Co., 1 Wall St. Edmonds, Wm. E„ 111 Broadway. Edwards, A. G. & Sons, 409 N. 8th St., St. Louis, Mo. Einstein & Co., H. G„ 30 Broad St. Eisele, King & Studdiford, 9 Clinton St., Newark, hr. J. Eisemann, Alexander & Co., 42 Broadway Eising, George J., 165 Broadway. Elder & Co., James Bldg., Chattanooga, Tenn. Elias (Albert J.) & Co., 20 Broad St. Eliott & Co., Gilbert, 11 Broadway. Elkins, Morris & Co., Land Title Bldg., Phila delphia, Pa. Ellis, D. H. & Co., 120 Broadway Elsaesser, George G„ 47 Broad St. Ely & Son, 120 Broadway. Emanuel & Co., 50 Pine St. Emory, Freed & Co., 109 So. Third St., Phila delphia, Pa. Engel & Co., 120 Broadway Erdman & Co., 25 Broadway Eric & Drevers, 40 Wall St. Ernst & Company, 120 Broadway Estabrook & Co., 40 Wall St. Further Information on firms appearing in bold face type will be found In the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1657 NEW YORK STOCK EXCHANGE—Continued MEMBERS Ettinger, Adrian, 70 Pine St. Evans, Stillman & Co., 14 Wall St. Fackert, William E„ 1 Wall St. Fagan, Albert E., 40 Wall St. Fagan & Goetz, 40 Wall St. Fahnestock & Co., 1 Wall St. Fair, Charles M., 100 Broadway. Faroll Brothers, 50 Broadway Farr & Co., 90 Wall St. Farrington & Coleman, 52 Broadway Farwell, Chapman & Co., 208 So. La Salle St., Chicago, Ill. Federman & Filston, 25 Broadway. FENNER & BEANE, 67 Broad St. FUor, Ballard & Smyth, 39 Broadway Finch, Wilson & Co., 120 Broadway Fincke, Reginald, 61 Wall St. Findley, William V. B.( 42 Broadway. Fine & Co., W. A., 1 Wall St. Fisher & Ross, 39 Broadway. Fitzsimmons, Joseph M., 115 Broadway. Flinn, George H., Jr., 3107 Grant Bldg., Pitts burgh, Pa. Fly & McFall, 73 Madison Ave., Memphis, Tenn. Ford, Donald, 115 Broadway. Forgie, David F„ 47 Broad St. Foster & Adams, 120 Broadway Foster (F. V.) & Co., 24 Broad St. Foster, John W„ 25 Broad St. Foster, Marvin & Co., 2 Wall St. Fox, O’Hara & Co., 60 Broad St. Francis, Bro. & Co., 4th and Olive Sts., St. Louis, Mo. Frank, A. R. & Co., 120 So. La Salle St., Chicago, Ill. Frank & Co., Charles A., 30 Broad St. Frank, Robert L., 25 Beaver St. Frankhauser, Charles A., 50 Broadway. Fransloll & Wilson, 120 Broadway Freeman, Joseph, 703 E. Olmos Drive; San Antonio, Tex. Fried & Company, Albert, 120 Broadway. Frlede, Leo, 39 Broadway. Friedman, Brokaw & Samish, 418 Olive St., St. Louis, Mo. Fuerst, Otto & Co., 120 Broadway. Fuerst, William, 39 Broadway. Fuller (Henry B.) & Co., 67 Broad St. Fuller, Rodney & Co., 14 Wall St. Gaines & Company, 1 Wall St. Gammack & Co., 39 Broadway Garvin, Bantel & Co., 120 Broadway. Gengler, Arthur, 1 Wall St. Gengler, Herbert B„ 1 Wall St. Gengler, Joseph D., 1 Wall St. Gerham, Harry, 42 Broadway. Gibb, Robert P., 50 Broadway. Gilbert & Co., Clinton, 120 Broadway Gilbert, Riley Miles, 11 Broadway. Gilchrist, Bliss & Co., 120 Broadway Gildea, Charles A., 50 Broadway. Gilmor, Robert, 1 Wall St. Gitterman, Joseph L., Jr., 120 Broadway Glendinning, Robert & Co., S. E.corner 15th and Chestnut Sts., Philadelphia, Pa. Glenny, Roth & Doolittle, 1415 Liberty Bk. Bldg., Buffalo, N. Y. Glore, Forgan & Co., 38 Wall St. Goadby & Co., W. H., 120 Broadway Goerz, E. V. & Co., 39 Broadway Goldman, Henry Jr., 39 Broadway Goldman, Robt. J., 30 Broad St. Goldman, Sachs & Co., 30 Pine St. Goldsborough, William W. Jr., 19 Rector St. Goldsmith (H. W. )& Co., 120 Broadway Goldsmith, Joseph M., 63 Wall St. Goodbody & Co., 115 Broadway Goodwin, William H., 42 Broadway. Gordon, Gerald M. & Co., 120 Broadway Gordon & Whitney, 115 Broadway Gosling, Woodley B„ 42 Broadway. Gossler, Philip, Jr., 40 Wall St. Gould, Clarence F., 2 Wall St. Gould, Frank J., 165 Broadway Gould, Howard, 160 Broadway Gradison, W. D. & Co., 408 Dixie Terminal Bldg., Cincinnati, Ohio. Graham & Co., 50 Broadway Graham, Harry S., 50 Broadway Cranberry & Co., 50 Broadway Granbery, Safford & Co., 40 Wall St. Graves, Banning & Co., 14 Wall St. Graves, Gordon & Co., 1 Wall St. Gray & Wilmerding, 44 Wall St. Green, Ellis & Anderson, 100 Broadway Greene & Brock, 40 Wall St. Greenway, Gilbert C. Jr., 61 Broadway. Greer, Wm. A., 37 Wall St. Gregory, George V., 42 Broadway. Griffen & Sheridan, 20 Exchange Place. Gruntal & Co., 30 Broad St. Grymes, J. Randolph, Jr., 42 Broadway. Gude. Winmill & Co., 1 Wall St. Gunn, Norman, 14 Wall St. Gutenstein & Lasdon, 25 Broadway. Guy, John J., 25 Broad St. Gwynne Brothers, 48 Wall St. Hackney, Hopkinson & Sutphen, 25 Broad St. Haff, Carroll B., 120 Broadway. Hagan, John Vincent, 42 Broadway. Halladay & Co., 14 Wall St. HALLE & 8TIEGLITZ, 25 Broad St. HALLGARTEN & CO., 44 Pine St. Halsted & Harrison, 1 Wall St. Hamershlag, Borg & Co., 39 Broadway Hano & Co., 120 Broadway Hardenbrook, Donald J., 67 Broad St. Hardy & Company, 11 Broadway Harriman & Keech, 11 Broadway Harris, Burrows & Hicks, 135 So. La Salle St., Chicago, Ill. HARRIS, CPUAM & CO., 11 Wall St. Harrison, O’Gara & Co., 209 S. LaSalleSt., Chicago, Ill. Harrison & Peterson, 25 Broad St. Hartshorne, Fales & Co., 71 Broadway Hatch, E. Sanford, 61 Broadway. Haupt & Company, Ira, 39 Broadway Hawkins, Roswell G„ 15 Broad St. HAYDEN. STONE & CO., 25 Broad St. Hazlett & Burt, 215 Wheeling Steel Corp. Bldg., Wheeling, W. Va. Healy, James A., 40 Exchange Place. Heath, Royal V., 40 Wall St. Hecker & Co., Liberty Trust Bldg., Philadelphia, Pa. Hedberg & Koppisch, 1 Wall St. Hedberg, O. Viking, 1 Wall St. Heidelbach, Ickelheimer & Co., 49 Wall St. Hemmerle, Joseph, 111 Broadway. Hemphill, Noyes & Co., 15 Broad St. Henderson & Company, 40 Wall St. Henderson, Charles F. & Sons, 71 Broadway Hendrickson & Co., 30 Pine St. Hentz, H. & Co., 60 Beaver St. Herbek, Anton W., 47 Broad St. Herman & Co., 14 Wall St. Hernon, Pearsall & Co., 120 Broadway Hernon, Wm. S., 120 Broadway. Herrick, Berg A Co., 40 Wall St. Herzfeld & Stern, 30 Broad St. Hess, Walter W., 120 Broadway. Hewitt, Lauderdale & Co., 61 Broadway Hewitt & Satterfield, 39 Broadway. Hlbbs, W. B., & Co., Hibbs Bldg., Washington, D. C. Higham, Neville G., 30 Broad St. Hill & Co., 2020 Carew Tower, Cincinnati, Ohio Hill, Charles W. & Co., 1 Wall St. Hilliard, J. J. B., & Son, 419 W. Jefferson St., Louisville, Ky. Hlrsch, Lilienthal & Co., 165 Broadway Hirschberg, Harold, 39 Broadway. Hirshon, Walter, 61 Broadway. Hiscoe, Reginald V., 52 Wall St. Hoge, Underhill & Co., 11 Broadway Hogle, J. A., & Co., 132 Main St., Salt Lake City, Utah Hollander, Robert B., 50 Broad St. Holsapple, Harvey & Co., 30 Pine St. Homans & Co.. 120 Broadway Hoppin Bros. & Co., 120 Broadway Hornblower & Weeks, 40 Wall St. Hough, Harry P., 71 Broadway. Hovey, Chandler & Co., 82 Devonshire St., Boston, Mass. Howard, Robert F., 25 Broad St. Howell, Douglass & Co., 40 Wall St. Hoyt & Co., (Colgate,) 14 Wall St. Hubbard Bros. & Co., 60 Beaver St. Hubbard, Edwin D., 67 Exchange Place. Hughes & Co., 11 Broadway. Hulburd, Warren & Chandler, 208 S. La Salle St., Chicago, Ill. Hume & Thompson, 60 Broadway Hummer, Wayne & Co., 105 W. Adams St., Chicago, Ill. Hunt, Gregory C., 50 Broadway. Hutchins & Parkinson, 53 State St., Boston, Mass. HUTTON & CO., E. F., 61 Broadway Hutton & Co., W. E., 14 Wall St. Hutton, Curtis W„ Los Olivos, Calif. Hyde, William T., 120 Broadway. Hyman & Co., 40 Wall St. Hynes, John M., 120 Broadway. Imbrie, H. Thornton, 50 Broadway. Ingalls & Snyder, 100 Broadway Irle, Willard S., 30 Broad St. Iseman, & Co., Harold M., 60 Beaver St. Jackson Bros., Boesel & Company, 26 Broadway JACKSON & CURTIS, 115 Broadway Jacobs, Stanley R., 30 Pine St. Jacobson & Co., Benjamin, 61 Broadway. Jacquelin & De Coppet, 47 Broad St. Jelke & Co., (Frazier) 40 Wall St. Jenkins & Stevens, 120 Broadway. Jenks, Gwynne & Co., 65 Broadway Jesup & Lament, 26 Broadway Jewett, Newman & Co., 26 Broadway. Johnson & Durant, 61 Broadway. Johnson & Wood, 30 Broad St. Johnson, Leeds, 49 Wall St. Jones, C. Hyland, 20 Broad St. Jones, Elliott L„ Investment Bldg., Washington, D. C. Joost, Patrick & Company, 90 Broad St. Joseph & Co., Morris, 25 Beaver St. Joseph, J. Bernard, 50 Broadway. Josephthal & Co., 120 Broadway Jurgens, Herman E., 42 Broadway. Kahn, Elliott M„ 44 Pine St. Kahn, Gustave H., 165 Broadway. Kantzler, George R., 25 Broad St. Kaufman, Richard K. & Co., 39 Broadway Kaufmann, Leo, 25 Broad St. Kay, Byfleld & Co., 61 Broadway. Kay, Richards & Co., Union Arcade, Pittsburgh, Pa. Kean, Taylor & Co., 14 Wall St. Keenan, Henry C., 120 Broadway. Kelley, Thomas F., 50 Broadway. Kemp, George S., 911 E. Main St., Richmond, Va. Kempner, Alan H., 120 Broadway. Kennedy & Co., 1 Wall St. Keppler, Emil A. C., 540 Morris Ave., Elizabeth, N. J. Kerngood & Co., 120 Broadway Kerr & Armstrong, 30 Broad St. Kerr (L. S.) & Co., 11 Wall St. Kevet, Ralph E., 50 Broadway. KIDDER & CO., A. M., 1 Wall St. KIDDER, PEABODY & CO., 17 Wall St. Kimball, Hervey L., 42 Broadway. King, Frank E., 71 Broadway. Klauber, Murray, 42 Broadway. Knapp, Arthur, Jr., 47 Broad St. Knapp, Theodore J„ 14 Wall St. Koch & Co., Spencer B„ 29 Broadway Koch, Spencer B., 29 Broadway. Kohler, Fish & Co., 48 Wall St. Kraebel, Raymond H., 50 Broadway. KUHN, LOEB & CO., 52-54 William St. La Branche, Arthur E., 50 Broadway. La Branche, Geo. M. L„ 50 Broadway. La Branche & Company, 50 Broadway Ladenburg, Thalmann & Co., 25 Broad St. Laidlaw & Co., 26 Broadway Laird & Co., du Pont Bldg., Wilmington, Del. Laird, Blssell & Meeds, 120 Broadway Lamborn, Hutchings & Co., 37 Wall St. Lamm, Harold J., 24 Broad St. Lamson Bros. & Co., 141 W. Jackson Blvd., Chicago, Ill. Lanahan, W. W., & Co., Calvert Bldg., Baltimore, Md. Lane, Allan Browning, Spencer’s Landing, Center ville, Md. Langley & Co., W. C„ 115 Broadway Lapham, Davis & Bianchi, 29 Broadway Lapham, Frank E. Jr., 120 Broadway. Larkin & Co., S. P„ 30 Broad St. Larkin, Sylvester P., 120 Broadway. Lauer & Co., William E., 50 Broadway Lawrence & Sons, Cyrus J., 115 Broadway Lazard Freres, 19 Nassau St. Leavitt, Phillip B„ 39 Broadway. Lee, Cornelius S„ Jr., 52 Wall St. Lee. Higginson & Co.. 37 Broad St. Lehman Bros., 1 William St. Leopold & Co.. James M„ 70 Wall St. Levey, David E., 25 Broad St. Levi, Frank S., 61 Broadway. Levis, Carl, 37 Wall St. Levy & Co., Robert J., 165 Broadway Lewinson & Co., Sydney, 30 Pine St. Lewis (Chas. E.) & Co., 601 Second Ave., South Minneapolis, Minn. Lewisohn & Sons, Adolph, 61 Broadway Lewisohn, Frederick, 11 Broadway. Llbaire & Company, 37 Wall St. Liberman, Herman N., Jr., 25 Broad St. Linburn, Ernest A., 25 Broad St. Lindley & Co.. 44 Wall St. Lipper, Arthur, Jr., 120 Broadway. Lipscher .Milton A., 42 Broadway. Livingstone, S. Ii. & Co., 40 Wall St. Lloyd & Co., Ill Broadway Lobdell & Co., 120 Broadway Lober Brotners & Co., 37 Wall St. Lockwood, Peck & Co., 52 Broadway. Loeb & Co., Carl M., 61 Broadway. Loeb, Alsberg & Co., 39 Broadway. Loeb, George A., 120 Broadway. Loeb, Robert H., 25 Broadway. Loew & Co., 2 Wall St. Long, John E., 25 Broad St. Lovejoy, Donald M., 49 Broad St. Lowell, James Russell, 30 Broad St. Lowitz E. & Co.. 29 Broadway. Luber & Co., 50 Broadway. Luitweiler, Kellogg & Co., 96 Wall St. Luke, Banks & Weeks, 1 Wall St. Lyon & Co., W. Wallace, 120 Broadway Lyons, W. L., & Co., 231 S. 5th St., Louisville, Ky. Mabon & Co., 1 Wall St. MacArthur, Malcolm, 47 Broad St. MacCorkle, Robert C, 29 Broadway. MacDonald & Co., 234 Real Estate Tr. Bldg., Philadelphia, Pa. Mackay & Co., 14 Wall St. MacKinney & Weicker, 1 Wall St. MACKUBIN, LEGG & CO., 222 E. Redwood St., Baltimore, Md. MacMeekin & Co., 123 S. Broad St., Philadelphia, Pa. MacQuoid & Coady.lll Broadway Madden, Walter H., 47 Broad St. Maier, Albert J., 42 Broadway. Maier, John A., 42 Broadway. Maloney, Anderson & Block, 50 Broadway Manheimer, DeWitt J., 50 Pine. Manson & Co., Thos L., 120 Broadway Marcus & Co., J. H., 30 Broad St. Marcus, Mortimer, 1 Wall St. Marks, Eric H., 25 Broad St. Marks (Laurence M.) & Co., 49 Wall St. Marks, Laser & Co., 231 S. La Salle St., Chicago, Ill. Marquis & Co., L. J., 39 Broadway 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 STOCK EXCHANGE MEMBERS 1658 NEW YORK STOCK EXCHANGE—Continued MEMBERS Marshall, Campbell & Company, 61 Broadway. Masten, A. E., & Co., First National Bank Bldg., Pittsburgh, Pa. Maxwell, George L„ 61 Broadway. Mayer, Clinton O. Jr., 120 Broadway. Mayer & Company, Jos. G., 74 Trinity Place. Mayer & Hart, 111 Broadway Maynard, Oakley & Lawrence, 24 Broad St. McCarthy, Daniel F., 52 Broadway McClave & Co., 67 Exchange Place. McClellan, George R., 40 Wall St. McCreery, Samuel, & Co., 123 S. Broad St., Philadelphia, Pa. McCutcheon, McKelvy & Durant, Union Trust Bldg., Pittsburgh, Pa. McDermott & Co., Peter P., 39 Broadway. McDermott, William P„ 39 Broadway. McDonnell & Co., 120 Broadway. McEneaney, Edward V., 47 Broad St. McGoldrick, Henry A., 50 Broadway. McGough & Schuman, 61 Broadway. McIntyre, Hugh B., 50 Broadway. McKay, N. Bruce, 42 Broadway. McKenna, Arthur J„ 47 Broad St. McKenna. James. 40 Exchange Place. McKeon, Daniel Manning, 71 Broadway. McKeon, Robert Manning, 71 Broadway. McLaughlin, Joseph A., 42 Broadway. McLean, James, 120 Broadway. McMannus, Mackey & Cox, 15 Broad St. McVickar, E. S. J„ 2 Wall St. Meehan & Co., M. J„ 30 Broad St. Melady & Co., John, 141 Broadway Mellick, J. Hartley, Jr., 50 Broadway. Mellon, Charles Henry, 42 Broadway. Mensch, Bernard L„ 29 Broadway. Mensch, Milton, 39 Broadway. Miller & Dodge, 30 Broad St. Miller & Lummis, 50 Broadway. Miller,Frank A., 25 Broad St. Mindermann, Frederick H., 29 Broadway. Minton & Co., D. M„ 111 Broadway Mitchel & Watts, 14 Wall St. Mitchell, Hutchins & Co., 231 S. La Salle St., Chicago, Ill. Monahan, Cohn & Lehman, 111 Broadway Montgomery, Robert Craig, 111 Broadway. Montgomery, Scott & Co., 120 Broadway. Moore & Co., D. T., 50 Broad St. Moore, J. Carson, 60 Beaver St. Moore, Leonard & Lynch, 111 Broadway. Moore, McLean & Co., 200 S. LaSalle St. Moore & Schley, 100 Broadway. Moors & Cabot. Ill Devonshire St., Boston, Mass. MORGAN & CO., J. P., 23 Wall St. Morgan, Henry & Company, 42 Broadway Morgan, Morgan G„ 60 Broadway. Morris & Co.. 1 Wall St. Morris, Brown & Co., 316 Fourth Ave., Pittsburgh, Pa Morris & Smith, 120 Broadway Morris, Arthur, 325 W. 8th St., Los Angeles, Calif. Morris, William & Co., 44 Pine St. Morrison, H. Terry, 61 Broadway. Morse, Anthony W., 60 Beaver St. MOSELEY & CO., F. S., 14 Wall St. Muir & Co., John .39 Broadway. Munds, Winslow & Potter, 40 Wall St. Munn & Norris, 30 Broad St. Murfey, Blossom & Co., Guardian Bldg., Cleve land, Ohio. Murphy (C. H.) & Co., 40 Wall St. Murphy, G. M.-P. & Co.. Ill Broadway Murray, John F. & Co., 11 Broadway Myles, John L., 47 Broad St. Nammack, Jerome W., 40 Wall St. Nash & Co., Ill Broadway. Neddermeyer, August, 42 Broadway. Neilson & O’Sullivan, 20 Broad St. Neilson, C. Frederic. Jr., 115 Broadway. Neilson, Louis, 120 Broadway Nelson, Palen, 1 Wall St. Neuberger, Harry H., 60 Beaver St. Neuhut, Plohn & Co., 60 Broad St. Neumoegen, Manfred L., Ill Broadway. Newbold’s, W. H„ Son & Co., 1517 Locust St. Philadelphia, Pa. Newborg & Co., 60 Broadway. Newburger, Loeb & Co., 40 Wall St. Newcombe, Chas. M., Ill Broadway. Newhard, Cook & Co., 400 Olive St., St. Louis, Mo. Newman Bros. & Worms, 25 Broad St. Newsome, John C„ 50 Broadway. Newton, Robert P., 52 Wall St. Nick (J. F.) & Co., 120 Broadway Nims, Arthur V., 50 Broadway. Noble, H. G. S., 42 Broadway. Noel, Berman & Langley, 67 Wall St. Norris & Kenly, 208 S. La Salle St., Chicago, Ill. Norris, Donald Lee, 61 Broadway. Noyes, David A., & Co., 208 S. La Salle St., Chicago, Ill. Noyes, Julius W„ 1 Wall St. Nugent & Igoe, 11 Commerce St., Newark, N. J. Nuttall, R. V., & Co., Park Bldg., Pittsburgh, Pa. O’Brien, Esmonde F., 15 Broad St. O’Brien, Richard W., 15 Broad St. Oliphant & Co., Jas. H„ 61 Broadway. Onativia, J. Victor, Jr., 42 Broadway. O’Neill & Co., Grover, 20 Exchange Place Orr & Tuthill, 60 Broadway Orvis Brothers & Co., 60 Broadway. Orvis & Co., Schuyler A., 120 Broadway Ottimer, Jack C„ 30 Broad St. Ottley, Gilbeit. 165 Broadway Paine, Webber & Co., 25 Broad St. Parker, Alfred P., 44 Beaver St. Parker, McElroy & Company, 120 Broadway. Parrish & Co., 40 Wall St. Pask & Walbridge, 1 Wall St. Pearl, Dyer, 1 Wall St. Pell & Co., 40 Wall St. Pell, Peake & Co., 24 Broad St. Pelzer, B. H. & F. W., 42 Broadway. Perkins, Erickson & Co., Powers Block, Rochester, N. Y. Pflugfelder, Bampton & Rust, 61 Broadway. Pforzheimer & Co.. Carl H., 25 Broad St. Phelps & McKee, 63 Wall St. Pierce & Co., E. A., 40 Wall St. Pierce, Allen A., 40 Wall St. Pillot, Andre P„ 48 Wall St. Pinkerton, Robert A., 50 Broadway. Piper, Jaffray & Hopwood, 115 S. 7th St., Minne apolis, Minn. Post & Flagg, 49 Broad St. Potter, Earl S., 26 Broadway Potts, William Rockhill, 47 Broad St. Pouch & Co., 1 Wall St. Prentice, Blauner & Brady, 25 Broadway. Prescott, Biggar & Co., 101 Guardian Bldg., Cleveland, Ohio. PRESSPRICH & CO., R. W., 68 William St. Price, Geo. E. & Co., 42 Broadway. Prince, F. H., & Co., Court & Washington Sts., Boston, Mass. Proctor, Cook & Co., 15 Broad St. Pryibil, Paul, 120 Broadway. Purcell, Edward A. & Co., 39 Broadway. Purdy, Strother B„ 42 Broadway. Putnam & Co., 6 Central Row, Hartford, Conn. Pyne, Kendall & Hollister, 60 Wall St. Quincey & Co., Chas. E., 24 Broad St. Quinn, Benedict N., 71 Broadway. Quinn, Walter A., 50 Broadway. Raebeck, William, 25 Broadway. Rafferty, Paul F„ 120 Broadway. Raiss, Carl, & Co., 256 Montgomery St., San Francisco, Calif. Raschen, John W., 42 Broadway. Ray, Joseph B„ 50 Broadway. Rayner, Thomas, 42 Broadway. Reckling, Harold M., 42 Broadway. Redmond & Co., 48 Wall St. Reeves, Edward J., 61 Broadway. Reid, Fergus, Jr., 115 Broadway. Reilly, Wm. B., 50 Freeman St., Newark, N. J. Reimer & Co., Ill Broadway Reiner & Co., Milton E„ 120 Broadway Reinholdt & Gardner, 400 Locust St., St. Louis, Mo. Renson, Joseph H., 19 Rector St. Reynolds & Co., 120 Broadway. Reynolds, Fish & Co., 120 Broadway. Rheinstein, Sidney, 14 Wall St. Rhoades & Co., 30 Pine St. Rhodes, Edmund, 60 Broadway. Rhodes, Gilbert L., 120 Broadway. Rice, Edward J., 11 Broadway. Rich, Clark & Brady, 39 Broadway Richard, C. B. & Co., 44 Beaver St. Richards, Fred L., 42 Broadway. Richards, Hume & Heffernan, 49 Wall St. Righter, Walter L., 63 Wall St. Ristine & Co., F. P., 15 Broad St. Riter & Co., 48 Wall St. Rives, Reginald B., 47 Broad St. Robertson, Charles E„ 11 Wall St. Robertson & Georgeson, 1 Wall St. Robinson, N. Dorsey, 47 Broad St. Rockefeller, J. D., 30 Rockefeller Plaza. Roesler, Walter, 50 Broadway. Rogers, Frank C., Ill Broadway. Rogers, Wilbur H., 120 Broadway. Rollins, Ernest C., 52 Broadway. Rollins, G. Edward, 40 Wall St. Rooke, Robert L„ 40 Wall St. Rose, Luke H„ 14 Wall St. Rose, Raymond S„ 60 Broadway. Rose, Reginald P„ 42 Broadway. Rose, Cammann & Co., 120 Broadway. Rosenau, Walter N., 1 Wall St. Rosenbaum, Francis F., 1 Wall St. Rossbach, Laurence B„ 42 Broadway. Rossman, F. L. & Co., 40 Wall St. Roth & Co., B. H., 25 Broad St. Roth (Emil J.) & Co., 29 Broadway. Rothschild & Co., 105 W. Adams St., Chicago, Ill. Rothschild & Co., L. F„ 120 Broadway. Rowland, Reginald, 50 Broadway. Ruggles, Burnet R., 61 Broadway Russell, Brewster & Co., 135 S. La Salle St., Chicago, Ill. Russell, Marshall H., 50 Broadway. Rutherfurd, John, 120 Broadway. RUTTER & COMPANY, 20 Exchange Place. Sabater, William F., 42 Broadway. Sackett (Ray P.) & Co., 11 Broadway. Sagar, William S., 115 Broadway SALOMON BROS. & HUTZLER, 60 Wall St. Salomon & Co., F. L„ 50 Broadway. Salomon, Robert S., 60 Wall St. Salter, John A., 42 Broadway. Salzer, Herbert D., 120 Broadway, sargeant, Malo & Co., Equitable Bldg., Denver, Colo. Sartorius & Smith, 61 Broadway. Scarritt & Bardach, 120 Broadway Schafer Bros., 1 Wall St. Schafer, Myron, 120 Broadway. Schatzkin, Loewi & Co., 30 Broad St. Scheftel, Herbert, 42 Broadway. Schirmer, Atherton & Co., 79 Milk St., Boston, Mass. Schoellkopf & Co., 70 Niagara St., Buffalo, N. Y. Scholl, & Co., T. F„ 50 Broad St. Scholle Brothers, 40 Wall St. Scholle, William D„ 40 Wall St. Schreiber, Otto A., 14 Wall St. Schreiber, Pierrepont D., 50 Broadway. Schubert, George C„ 40 Wall St. Schwabacher & Co., 600 Market St., San Fran cisco, Calif. Schwabacher, Herman S., 25 Broad St. Schwartz, Herman, 39 Broadway. Schweppe, E. Poynter, 39 Broadway. Scott & Stringfellow, P. 0. Box 1575, Richmond, Va. Scott, Harold W., 47 Broad St. Scott, Stuart Jr., 50 Broadway. Scranton, Chas. W., & Co., 209 Church St., New Haven, Conn. Seaman, Henry Brevoort, 42 Broadway. Seaman, Joseph H., 44 Wall St. Seasongood & Haas, 63 Wall St. Seeley, Nathaniel S., 71 Broadway. SELIGMAN & CO., i. & W., 54 Wall St. Seligman, G. & A., 42 Broadway. Seligman, James, 30 Pine St. Seligsbere & Co. .50 Broad St. Seskis, Jack Y., 50 Broad St. Sesselberg, Arthur W., 50 Broadway. Shaskan Brothers, 39 Broadway Shaskan & Co., 39 Broadway Shaw, George W„ 111 Broadway. Shea, Frank A., 67 Exchange Place. Shea, James F. & Co., 160 Broadway. Shearson. Hammill & Co., 14 Wall St. Shethar, John B., 120 Broadway. Shields & Company, 44 Wall St. Shields, Robert McC., 61 Wall St. Shippee & Rawson, 111 Broadway. 8human & Co., 25 Broad St. Sichel, Eugene A., 120 Broadway. Sidenberg, George M., 25 Broad St. Siegel, Isaac, 61 Broadway. Silberberg, D. H. & Company, 63 Wail St. Simmons, Cheston, 47 Broad St. Simmons & Co., E. H. H., 52 Broadway. Simmons & Peckham, 40 Wall St. Simmons, Zalmon G. Jr., 67 Exchange Place. Simon, I. M., & Co., 315 N. 4th St., St. Louis, Mo. Simonds, Robinson, 111 Broadway. Sincere, Charles & Co., 231 S. La Salle St., Chicago, Ill. Singer, Deane & Scribner, Union Trust Bldg. Pittsburgh, Pa. Sinsheimer, Alex. L., 61 Broadway. Sisto & Co., J. A., 68 Wall St. Sivin, Franklin & Co., 61 Broadway. Slater, Robert V., Ill Broadway. Slaughter & Co., A. O , 14 Wall St. Slepack & Co., 25 Broadway Smith, Bernard E„ 14 Wall St. Smith, Bert V., 20 Broad St. Smith, E. E. T„ 14 Wall St. Smith, Edward B. & Co., 31 Nassau St. Smith, Frank & Co., 120 Broadway Smith, Herbert L., 30 Pine St. Smith, Kenneth R„ 11 Wall St. Smith, Lyman D., 61 Broadway. Smith, Ralph C., 115 Broadway. Smith & Gallatin, 115 Broadway. SMITHERS & CO., F. S., 15 Broad St. Sneckner & Heath. 63 Wall St. Snedeker, Chas. V., & Co., 1 Wall St. Snyder, Wilson & Co., 408-10-12 Madison Ave., Toledo, Ohio. Somers & Schafer, 50 Broadway Sonn, Herbert H., 50 Broadway. Soucy, Swartswelter & Co., 161 Devonshire St., Boston, Mass.' Southgate & Co., 185 Devonshire St., Boston, Mass. Sparks, J. W. & Co., 50 Broadway. Spear & Leeds, 25 Broad St. Sperber, Benjamin, 25 Broad St. Spero & Co., 120 Broadway SPEYER & CO., 24-26 Pine St. Spielman, David B., 39 Broadway. Spingarn & Co., Leopold, 29 Broadway. Sprague, Raymond, 39 Broadway. Stackpole & Buchanan, 120 Broadway. Stafford & Co., 20 Exchange Place. Stamm & Co., A. L., 120 Broadway Stanley, Janeway & Howe, 40 Wall St. Stanton & Co., 52 Wall St. Starr, William T„ 61 Broadway. Stebbins, Ernest Vail, 42 Broadway. Stein, Brennan & Co., 9-11 S. LaSalle St., Chicago, Ill. STEIN BROS. & BOYCE, 39 Broadway. Stein, Jules C., 430 N. Michigan Ave., Chicago. Ill. Steiner, Rouse & Company, 25 Broad St. Sterling, Grace & Co., Ill Broadway. Stern & Co., Allison, 25 Broad St. Stern Brothers, 39 Broadway STERN, KEMPNER & CO., 14 Wall St. Sternberger, Henry S., 1 Wall St. Stevens & Legg, 120 Broadway. Stewart, Charles E., 63 Wall St. Stewart, John A., 3rd, 120 Broadway. Further information on firms appearing in bold face type will be found In the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1659 STOCK EXCHANGE MEMBERS NEW YORK STOCK EXCHANGE—Continued Stokes, Hoyt & Co., 39 Broadway. Stone, Howard R., 60 Broadway. Stout & Co., 25 Broad St. Stout, Bayard Dominick, 47 Broad St. Stralem, Pierre, 44 Pine St. Strassburger & Co., 133 Montgomery St., San Francisco, Calif. Strasser, Robert, 42 Broadway. Straus & Co., 39 Broadway Straus, Ferdinand A., 50 Broadway. Straus, Jack 0., 1 South William St. Strauss, Max, 120 Broadway. Strauss, Phillips & Co., 120 Broadway Stroock, Stephen J„ 120 Broadway. Struthers & Dean, 40 Wall St. Sulzbacher, Granger & Co., Ill Broadway. Sutro & Co., 407 Montgomery St., San Francisco, Calif. Sutro Bros. & Co., 120 Broadway Swan & Co., J. E., 25 Broad St. Sweetser & Co., 43 Broad St. Swinnerton, Radcliffe, 60 Beaver St. Taller & Robinson, 120 Broadway. Talbot & Company, 11 Wall St. Talcott, Potter & Co., 26 Broadway Tate & Hays, 71 Broadway Taylor & Delany, 50 Broadway Taylor, Bates & Co., 48 Wall St. Taylor & Co., W. R. K., 120 Broadway Tefft & Company, 24 Broad St. Tenney & Co., 31 Milk St., Boston, Mass. Thaw, Lawrence Copley, 1 Wall St. Thiele, Walter, 120 Broadway. Thomas, Richard Russell, 47 Broad St. Thomas & Griffith, 120 Broadway. Thomson & McKinnon, 11 Wall St: Thorne (F. B.) & Co., 120 Broadway. Thurnauer, Arthur F., 61 Broadway. Tierney, Andrew J., 50 Broadway. Tifft Brothers, Third National Bank Bldg., Springfield, Mass. TIMMINS & COMPANY, J. It., 61 Broadway. Tobey & Co., 25 Broadway. Tobey & Kirk, 52 Wall St. Tobias, W. Eldridge, 50 Broadway. Toerge & Schiffer, 15 Broad St. Tompkins, Frederic P., 47 Broad St. Toolin & Co., 52 Wall St. Townsend, Anthony & Tyson, 30 State St., Boston, Mass. Townsend, Graff & Naumburg, 29 Broadway. Trask & Co., Spencer, 25 Broad St. Trask, John J., 47 Broad St. MEMBERS Travers, Clark and Taylor, 120 Broadway Travers, Leo B., 50 Broadway. Treman & Co., Arthur B., 1st Nat’l. Bank Bldg., Ithaca N Y Trimble & Co., 1326 Walnut St., Philadelphia, Pa. Tucker, Anthony & Co., 120 Broadway Turner, Wallis S., 50 Broadway. Turnure & Co., Lawrence, 1 Wall St. Tweedy. Edmund R„ 25 Broad St. Ullman Bros., 50 Broadway Ulman Bros. & Baldwin, 1 Wall St. Untermeyer, Milton F., 60 Beaver St. Vachio, Frank A., 42 Broadway, van Daell, Paul A. H., 50 Broadway. Vaughan & Company, 50 Broadway Vercoe & Co., Huntington Bank Bldg., Columbus, Ohio. Vernon, Miles H„ 1 Wall St. Vesce, Anthony P., 15 Broad St. Vesce, Joseph V., 71 Broadway. Vietor, Common & Co., Marine Trust Bldg., Buffalo, N. Y. Vilas & Hickey, 49 Wall St. Vogel, Arthur J., 30 Pine St. Wadsworth, Willard, 1 Wall St. Wagner, Stott & Co., 19 Rector St. Wainwright & Co., H. C., 60 State St., Boston, Mass. Wainwright, Luce and Willetts, 52 Wall St. Waldheim, Platt & Co., 308 N. Eighth St., St. Louis, Mo. Walker Brothers, 71 Broadway Walker & Co., G. H„ 1 Wall St. Walker & Sons, Joseph, 120 Broadway Waller & Co., 61 Broadway Warburton, Wm. John, 60 Broadway. Ward, Charles J., 120 Broadway. Ward, Gruver & Company, 40 Exchange Place. Ware & Keelips, 19 Rector Street Watling, Lerchen & Hayes, 334 Buhl Bldg., Detroit. Mich. Watson, Armstrong & Co., 24 Broad St. Watson, Charles F. Jr., 30 Broad St. Watson & Co., T. L., 40 Wall St. WATSON & WHITE, 149 Broadway Webster, Morton S., 1 Wall St. Weed, Hall & Co., Ford Bldg., Detroit, Mich. Weekes, Harold H„ 14 Wall St. Weicker & Co., 1 Wall St. Weil, Arthur C„ 25 Broad St. Weil, Charles S., 30 Broad St. Weingarten & Co., 29 Broadway. Weisl & Co., Edwin, 111 Broadway. Welch, Francis W., 25 Broad St. Welles. C. E. & Co., 25 Broadway. WELLINGTON & CO., 120 Broadway Wenman & Co., 1 Wall St. WERTHEIM & CO., 120 Broadway Westheimer & Co., 324 Walnut St., Cincinnati, Ohio. Whaley, Frederick C„ 11 Wall St. White, Frederic N. Lawrence, 47 Broad St. White, Weld & Co., 40 Wall St. Whitehead, Edward R., 52 Broadway. Whitehouse & Co., 1 Wall St. Whitman, Herbert S., 47 Broad St. Whitney & Co., Richard, 15 Broad St. Whitney & Elwell, 30 State St., Boston, Mass. Whitney & Sons, H. N„ 49 Wall St. Wilcox & Co., 14 Wall St. Wilder, George H., 1 Wall St. Willett, George, 61 Broadway. Williams, Blair S. & Co., 25 Broad St. Williams & Co., Clark, 160 Broadway Williams, Kenneth R., 30 Pine St. Williston & Co., J. R„ 115 Broadway. Wilson, Alanson H. R„ 2 Wall St. Wilson & Porter, 39 Broadway. Winthrop, Robert & Co., 48 Wall St. Winthrop, Mitchell & Co., 26 Broadway Wisner, Charles H., 40 Exchange Place. Witter, Dean & Co., 45 Montgomery St., San Francisco, Calif. Wollman & Co., W. J., 120 Broadway Wood, A. C„ Jr. & Co., 511 Chestnut St., Phila delphia, Pa. Wood, Low & Company, 63 Wall St. Wood, Struthers & Co., 20 Pine St. Wood, Trubee & Co., M & T Bldg., Buffalo, N. Y. Wood, White & Co., 14 Wall St. Woody. Charles L. Jr., 40 Wall St. Woolner, Adolph, 14 Wall St. Worden, J. Lorimer, 30 Broad St. Worthington, George L., 50 Broadway. Wrenn Bros. & Co., 30 Broad St. Wright & Sexton, 1 Wall St. Wurts, Dulles & Co., 1416 Chestnut St., Phila delphia, Pa. Wyckoff, Edward G., & Co., 1528 Walnut St., Philadelphia, Pa. Wyle, John J„ 24 Broad St. Yarnall & Co., 1528 Walnut St., Philadelphia, Pa. Young, Charles F., 42 Broadway. Young, Kolbe & Co., 120 Broadway Young, T. Sloan, 14 Wall St. Zeltner, Charles F., 115 Broadway. Zucker, Arthur A., 1 Wall St. Zuckerman, Henry & Co., 52 Broadway 084B0 CINCINNATI STOCK EXCHANGE (208-209-210 Dixie Terminal Bldg.) Officers: W. D. Gradison, President: J. B. Reynolds, Vice-President; S. F. Stephenson, Treasurer; Charles H. Steffens, Jr., Secretary SCHEDULE OF RATES OF COMMISSION (March 1, 1936) ON STOCKS York Stock Exchange. Whenever the Board of Trustees, however, deems Price Rate Per Share it advisable to do so, they may designate any security listed on the Cincinnati Selling under $1.00 per share_______________ As determined by member Stock Exchange and any other principal exchange, in which the Commission Selling at $1.00 per share and below $5.00 per share__ Not less than 7Mc shall not be less than are provided by the rules of such other Exchanges. Selling at $5.00 per share and below $10.00 per share..Not less than 15c (Aluminum Industries, American Laundry Machinery, Eagle Picher Lead, Selling at $10.00 per share and below $150.00 per share.Not less than 25c U. S. Playing Card and Waco Aircraft all traded in on the New York Curb Selling at $150.00 per share and below $200.00 per share.Not less than 50c have been so designated.) 8elling at $200.00 per share and below $300.00 per share.Not less than $1.00 BONDS Selling at$300.00 per share and below $400.00 per share.Not less than $1.50 The Commission charge on all bonds, except that of U. S. Bonds, is oneSelling at $400.00 per share and over........... .................. Not less than $2.00 quarter of one per cent on the par value. The Commission charge on U. S. Bonds is one-eighth of one per cent. MINIMUM COMMISSION ON STOCKS RATES TO MEMBERS—GIVE-UPS. On stocks listed only on the Provided, however, that on every transaction which Involves an amount Cincinnati Stock Exchange the Commission shall not be less than the rates of $15.00 or more, the minimum commission shall be not less than $2.50. given below: A transaction which involves under $15.00, the minimum commission shall Rate per share be as determined by the broker. Selling under $1.00 per share..................................as mutually agreed upon Selling at $1.00 but under $5.00....................... Not less than lc ON RIGHTS AND WARRANTS Selling at $5.00 but under $10.00........................... Not less than 3c Price Rate Per Right Selling at $10.00 and above..................................................Not less than 4c or Warrant On stocks listed jointly on the New York and Cincinnati Stock Exchange Selling under 50c......... ............................... ..........(as mutually agreed upon) the Commission shall not be less than the rates given below. (These rates Selling at 50c but under $1.00_____ Not less than 3c also apply to Aluminum Industries, American Laundry Machinery, Eagle 8elling at $1.00 but under $5.00___________________ Not less than 5c Picher Lead, U. S. Playing Card and Waco Aircraft, which are traded in Not less than 7J^c Selling at $5.00 but under $10.00......... on the New York Curb.) Selling at $10.00 and above_________ Not less than 15c Selling under $1.00 per share_____ ____ ______ .as mutually agreed upon Selling at $1.00 but under $5.00_____________________ Not less than lc MINIMUM COMMISSION ON RIGHTS AND WARRANTS Selling at $5.00 but under $10.00________ Not less than 2c Provided, however, that on every transaction which involves an amount Selling at $10.00 and over.................. ................... ...........Not less than 2>£c of $5.00 or more, the minimum Commission shall be not less than $1.00. CLEARANCE BUSINESS A transaction which involves under $5.00, the minimum Commission shall be as determined by the broker. RATES TO MEMBERS—On business for members of the Exchange when the principal is not given up, the Commission shall not be less than FRACTIONAL SHARES one-half of the non-member rates. There shall be charged a Commission not less than 50 cents on fractional The Commission on rights and warrants shall be the same as on stocks, shares. except in the case of rights and warrants selling below $1.00 on which the JOINTLY LISTED STOCKS Commission may be mutually agreed upon. As to stocks and rights which are listed on the New York Stock Exchange, The Commission on bonds shall not be less than 40 cents per $1,000 par the Commission shall not be less than are provided by the rules of the New value on bonds. MEMBERS Ashbrook, H. Raymond, 705 Union Trust Bldg. Lepper, A. & Co., First National Bank Bldg. Fox & Chambers, Inc., Fourth Nat'l. Bk. Bldg. ASSEL, GOETZ & MOERLEIN, INC., 218 Gibson, R. H., 106 E. Third St., Covington, Ky. Lowenthal, Ben, W. D. Gradison & Co., 408 Dixie Provident Bank Bldg. Terminal Bldg. Gradison, W. D. & Co., 408 Dixie Terminal Bldg. BALLINGER & CO., Union Trust Bldg. MURRAY, C. C. & CO., Union Trust Bldg. Cranberry & Co., 50 Broadway, New York, N. Y. Bartlett, Benj. D. & Co., 313 Vine Street. Grau, J. J., & Co., 1331 Union Trust Bldg. Reiter & Co., C. H„ Union Trust Bldg. J. L. Barth Co., Fourth National Bldg. Stephenson & Potter, Union Central Bldg. Greene & Brock, 301 Third Nat’l. Bk. Bldg., Bruner, George, 3010 Observatory Rd. Thurnauer, Max, First Nat’l. Bk. Bldg. Dayton. Cohle, H. B. & Co., 711 Union Trust Bldg. Tyree, Victor L„ 3133 Menlo Ave. Harvey, M. C„ 216 Superior Ave., N.E., Cleveland. Cree, Ellwood H., 314 W. 4th St., Covington, Ky. Van Lahr, Leo. Ed., 415 Provident Bk. Bldg. Hill & Co., Carew Tower. WEIL, ROTH & IRVING CO., THE, 217 Horan, R. J., Union Trust Bldg. Dominick & Dominick, 115 Broadway, New York. Dixie Terminal Bldg. Duble, Dennison, 403 First Nat’l. Bldg. Hunter, W. T., 3627 Stettinius Ave. Dunlap, T. Oliver, Mercantile Library Bldg. Hutton, W. E. & Co., First National Bank Bldg. Westerfield, Ralph, Union Trust Bldg. Eustis, Geo. & Co., 810 Fourth National Bank Bldg. Westheimer & Co., First National Bank Bldg. IRWIN BALLMAN CO., THE, First National Field, Richards & Shepard, Inc., 1124 Union Bank Bldg. Westheimer, E. J., W. L. Lyons & Co., Union Central Bldg. Trust Bldg. Jaspers, J. G„ First Nat’l. Bk. Bldg. Further Information on firms appearing In bold face type will be found in the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1660 CLEVELAND STOCK EXCHANGE Officers: Gordon S. Macklin, President; Percy W. Brown, Vice-President; C. B. Whitcomb, Secretary, David G. Skall, Treasurer; Wm. J. Perry, Asst. Secretary. SCHEDULE OF COMMISSION BATES Stocks Selling Under $1 $ 1 10 25 50 125 300 500 and and and and and and and Minimum commission $1.00 up to and including 9%__________________ up to and including 24% .................................... up to and including 49 % ...... ............................ . up to and including 124%............ ........................ up to and including 299 %--- -----------------------up to and Including 499 Vs .................................... over.................................................. ....................... Minimum commission $2.00 Commission per Share 3c . . . . . 7%c 15c 25c 30c 50c 75c .$1.00 MEMBERS BACHE & CO., J. S., 200 National City Bldg. ♦Bahl, Jr., Gaylord W., 105 Mohican Bldg., Mansfield, O. *Bell & Beckwith ,Home Bank Bldg., Toledo, O. Borton, Bates & Co., 1927 Union Trust Bldg., Youngstown Butler, Wick & Co., Union National Bldg. Clark k Co., 981 Union Trust Bldg. ♦Collin, Norton & Co., Gardner Bldg., Toledo, O. Curtiss, House k Co., 1201 Union Trust Bldg. Fenner & Beane, Leader Bldg. GILLIS, WOOD & CO., 1585 Union Trust Bldg. W1U S. Halle & Co.. 511 Swetland Bldg. Hawley, Huller & Co., 1436 Union Trust Bldg. Hayden, Miller k Co., 1250 Union Trust Bldg. Hornblower & Weeks, 1040 Union Trust Bldg. Jackson & Curtis, 1737 Union Trust Bldg. Kraus, Cunningham & Co., 1846 Union Trust Bldg. Murch & Co. Maynard H., 1186 Union Trust Bldg. Murfey, Blossom & Co., 901 Guardian Bldg. Paine, Webber & Co., 1111 Terminal Tower Bldg. E. A. Pierce & Co., 215 Cuyahoga Bldg. (Associate Members*) Ryan & McManus, 39 Broadway, N. Y. Schultz k Co., L. J., 736 Union Tr. Bldg. David G. Skall k Co.. 2031 Union Trust Bldg. W. 8. Snyder k Co., 2027 Union Trust Bldg Soucy, Swartswelter & Co., 1704 Central National Bank Bldg. Stanley & Co., 1740 East Twelfth St. ♦Stevenson, Vercae, Fuller & Lorenz, Huntington Bank Bldg., Columbus, 0. ♦Vercoe & Co., Huntington Bk. Bldg., Columbus. Wellsted, Macklin & Co.. 1280 Union Trust Bldg. Witt, John P. & Co., 2008 Union Trust Bldg. PENNSYLVANIA PHILADELPHIA STOCK EXCHANGE Officers: Howard Butcher, Jr., President; B. Frank Townsend, Jr.. Vice-President; Frank C. Matthews, Secretary; Frank E. Baker, Treasurer John R. Huhn, Jr., Assistant Secretary and Assistant Treasurer; Thomas B. Gravatt. Auditor. COMMISSION 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. STOCKS Price Bate 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 12%c Selling at $25.00 and above, but under $50.00............. Not less than 15c Selling at $50.00 and above, but under $75.00............. Not less than 17^e 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. BATES STOCK SUBSCRIPTION BIGHTS Price Bate Per Bight Selling under 50c................................................................ As mutually agreed Selling at 50c and above, but under $1.00..... ........... .......... Not less than 3c Selling at $1.0u and above, but under $5.00.................... ..Not less than 5c Selling at $5.00 and above, but under $10.00.................Not less than 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 Bates, effective February 4, 1932: Members are permitted to charge a commission equal to that in force in any dual market in which a security is traded. MEMBERS Ashton, Augustus Trask, 1501 Finance Bldg. BACHE, J. S., & CO., Pennsylvania Bldg. Baker. Weeks k Harden. Commercial Trust Bldg. Banks, Clayton F., 123 So. Broad St. Barclay, Henry C., 123 So. Broad St. Barclay, Moore & Co., 123 S. Broad Street. Barney, Chas. D., & Co., 1428 Walnut Street. Bayuk Brothers, Packard Bldg. Bean, Chas. H„ & Co., 1528 Walnut Street. Belzer & Co.. Land Title Bldg. Bernstein, Harry L., 518 Stock Exchange Bldg. Biddle k Co., Moncure, 1520 Locust Street. Biddle, Whelen & Co., 1606 Walnut St. Bioren, John S., 1508 Walnut Street. BIOREN & CO., 1508 Walnut Street. Boenning & Co., 1606 Walnut Street. Brown, Howard B., 1616 Walnut Street. Brown (Vernon C.) & Co., 71 Broadway, New York, N. Y. BROWN BROTHERS HARRIMAN & CO., 1531 Walnut St. Bryan, Penington k Colket, 123 S. Broad St. Brylawski, Edward L„ 1611 Walnut St. Buckley Brothers, 1529 Walnut St. Butcher & Sherrerd. 220 Real Estate Trust Bldg. Carstairs & Co., 220 So. 16th St. Cherry, Robert, Jr., 113 So. Fifth St. Clark, E. W., & Co., 16th and Locust St. Clark, Kenneth R., 512 Stock Exchange Bldg. Clucas, (E. W.) & Co., 70 Pine St., New York, N. Y. Cochrane, Alexander, 60 State St., Boston, Mass. Conklin. Roscoe C, 518 Stock Exchange Bldg. Dackerman & Waber. 517 Stock Exchange Bldg. Davis, Robert Hare, 824 Stock Exchange Bldg. deCoursey, Stephen H., 44 N. 4th St. DeHaven & Townsend, 1513 Walnut Street. Diffenderffer & Co., 1611 Walnut Street. Dixon, Fitz Eugene, 1411 Chestnut St. Donoghue, Daniel C., Jr., 123 S. Broad St. DREXEL Sc CO., 15th and Walnut Streets. Drummon, Chester W., 626 Stock Exchange Bldg. Eastman, Dillon & Co., 1506 Walnut St. Elkins. Morris & Co., 305 Lana Title Bldg. Embick, Paul A., 518 Stock Exchange Bldg. Emory, Freed & Co., 109 S. 3rd Street. Fearon, Charles. 511 Chestnut St. Flynn, Bernard J., 46 No. 40th St. Fox, Geo. S., & Sons, 1600 Girard Trust Bldg. French, E. W., & Co.. 123 S. Broad Street. Fuller. W. A. M.. & Co., 1510 Chestnut Street. Garber, F. W.. & Co.. 115-117 S. 5th Street. Gayley, McCreary & Co.. 817 Packard Bldg. Gilmore, Arthur C„ Provident Trust Bldg. Glendinning, Robt.. & Co., Packard Bldg. Goldman, Harold C., 811 Stock Exchange Bldg. Graff, Frank M., 1508 Walnut St. Greene, Norman J., Berwyn, Pa. Greenwood, Herbert T., 518 Stock Exchange Bldg. Greer, Thomas Raymond, 309 Otis Bldg. Guarniery, Robert Y„ 518 Stock Exchange Bldg. Hammitt & Co., 602 Stock Exchange Bldg. Hamstrom & Co., 215 Real Estate Trust Bldg. Harper, James B„ Stock Exchange Bldg. Harrison & Co , 123 S. Broad Street. Hauberger, George H., 609 Stock Exchange Bldg. Hayden, Stone & Co., 25 Broad St., New York, N. Y. Hecker & Co., Liberty Trust Bldg. Hibbs (W. B.) & Co., Hibbs Bldg., Washington, D. C. Hopper, Soliday & Co.. 1420 Walnut St. Hornblower & Weeks. 1429 Walnut Street. Huhn, John R., Jr., Stock Exchange Bldg. Hutton & Co.. W. E.. 1529 Walnut St. Janney, Walter C., 1529 Walnut St. Jefferis, W. Harper, 1518 Walnut St. Jenks, Gwynne & Co., 65 Broadway, New York, N. Y. Jones, Miller & Co., Commercial Trust Bldg. Kelly, James J., 1611 Walnut St. Kennedy & Co., 2115 Land Title Bldg. Kolb, Robert A., 1608 Walnut St. Ladenburg, Thalmann & Co., 25 Broad St., New York, N. Y. Laird, Bissell & Meeds. 1528 Walnut Street. Lawson, W. L., Union League. Lee, John K„ 1411 Walnut St. Lilley & Co., 1520 Packard Bldg. Lippincott, Richard, 220 S. 16th St. Loeb, Oscar, 824 Stock Exchange Bldg. Louchheim, Walter C., 120 Broadway, New York, N. Y. MacDonald & Co., 234 Real Estate Trust Bldg. MacMeekin & Co.. 123 S. Broad Street. Makiver, J. S. P., 1510 Chestnut St. Mails, David S„ 805 Land Title Bldg. Masland, Fernon & Anderson, Packard Bldg. Matthes, Percy E., 305 Land Title Bldg. Matthews, Caldwell F., 1411 Walnut St. Matthews, Frank C., Stock Exchange Bldg. McCreery, Samuel & Co., 123 S. Broad Street. McCurdy, Wallace M., 1237 Commercial Trust Bldg. McLaughlin, George H., Stock Exchange Bldg. Mellor E. Fraley, 518 Stock Exchange Bldg. Montgomery, Scott & Co., 123 S. Broad Street. Moore, E. J., & Co., 141 South Fourth Street. Moore, Leonard & Lynch, 111 Broadway, New York. Moorhead, Barlow, Germantown Cricket Club. Morgan, Reed A., & Co., 1735 Commercial Trust Bldg. Moyer & Co., 1500 Walnut Street. Newbold’s Son, W. H„ & Co.. 1517 Locust Street. Newburger, Loeb & Co., 1419 Walnut Street. Further Information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list in each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1661 PHILADELPHIA STOCK EXCHANGE—Continued MEMBERS Nick, (J. F.) & Co., 120 Broadway, New York. Palmer & Co., E. W., Commercial Trust Bldg. Parke, John S„ 1415 Walnut St. Parrish & Co., 212 South 15th Street. Phillips, Samuel K., & Co., 1317 Packard Bldg. Powell, A Victor, 6205 Ocean Ave.,Ventnor, N. J. Rebre, Charles A., 403 Stock Exchange Bldg. Rlstlne, F. P., & Co., 123 S. Broad Street. Rosenbaum, Leon, 6803 N. 12th St. Rourke, William J., Packard Bldg. Rowe, Robert G., 1429 Walnut St. Sailer, A. J. & Co.. 113 S. 5th Street. Seeler & Co., 435 Chestnut St. Sloane & Co., Stock Exchange Bldg. Smith, Edward B., & Co., 1411 Chestnut Street. Smith, W. Hinckle, 803 Weightman Bldg. Snyder, Geo. E., & Co., 600-601 Stock Exchange Bldg. Snyder, R. Maurice, 1518 Locust St. Sparks, J. W., & Co., 1510 Chestnut Street. Spiegelman, Solomon B., 518 Stock Exchange Bldg- Starr & Co., 123 S. Broad Street. Stephenson, George H., Stock Exchange Bldg. Steppacher, Lester G., 403 Stock Exchange Bldg. Strecker, Daniel E., 3451 Frankford Ave. Sulzbacher, Granger & Co., Ill Broadway, New York, N. Y. Suplee, Jr., Horace L„ 123 S. Broad St. Suplee, Walter S., 123 S. Broad St. Sutro Bros. & Co., 120 Broadway, New York. N. Y. Swab, H. M. & Son, 47 Bourse Bldg. Tague, Jr., Edward J., 517 Stock Exchange Bldg. Taylor, Robert D., Stock Exchange Bldg. Taylor, Roland L„ 1100 Morris Bldg. Thomas, Edward R., 1428 Walnut St. Thompson, Edward S., Land Title Bldg. Trimble & Co., 1326 Walnut Street. Turner, Gill & Crouter, 1614 Packard Bldg. Turton, George L., 517 Stock Exchange. Vrooman, Samuel B., Jr., 1411 Walnut St. Walsh, Frank C., 115 Broadway, New York. Warwick, Arthur D„ Stock Exchange Bldg. Watson, Clifford A., 1411 Walnut St. Weeks, Henry C., 1518 Locust St. Wells, Charles C., 609 Stock Exchange Bldg. Wheeler & Co., 1100 Girard Trust Bldg. Wieand, Jr., Franklin D., 1508 Walnut St. Williamson, Jr., James A., 123 S. Broad St. Wilmer & Co., 123 S. Broad St. Wlstar, Carter & Co., 1735 Commercial Trust Bldg. Wolf Bros. & Co., 1700 Walnut Street. WOOD, A. C., JR., & CO., 511 Chestnut St. Wood, Charles M„ 1513 Walnut St. Woodside, J. Alan, 403 Stock Exchange Bldg. Wright & Sexton, 1 Wall St., New York, N. Y. Wurts, C. S. & Co., 1327 Walnut Street. Wurts, Dulles & Co., Philadelphia Bank Bldg. WyckolT & Co., Edward G., 1528 Walnut Street. Wynn, Charles K„ 1510 Chestnut St. Yarnall & Co., 1528 Walnut Street. PITTSBURGH STOCK EXCHANGE (229 Fourth Ave.) Officers: R. S. Richards, President; F. X. Pfab, Asst. Secretary; Samuel Carothers, Vice-President; Arthur Middleton, Manager Clearing House; Wm. J. Bauer, Treasurer; Hugh A. McNicol, Secretary, W. G. Ganter, Assistant Manager Clearing House RATES OF COMMISSION (Effective on and after March 17, 1933) The minimum rates of commission charged to nonmembers of the Exchange for buying or selling each 31,000 bond shall be not less than $2.50 (these commissions shall not apply to government, state or municipal bonds or bonds and notes having five (6) 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 51.00........ ........................................ . .03 Stocks selling at 51.00 and under 53.00.................................................. .04 Stocks selling at 53.00 and under 510.00............................................... .075 Stocks selling at 510.00 and under 525.00...... ......................................... 125 Stocks selling at 525.00 and under 550.00........ .........................................15 Stocks selling at 550.00 and under 575.00...... ................................... . .175 Stocks selling at 575.00 and under 5100.00................. ............................20 Stocks selling at $100.00 and under $200.00............................................ 25 Stocks selling at $200.00, $0.15 per share additional, and for each advance of $100.00 in the selling price, an additional $0.15 per share. A minimum commission of not less than $1.00 shall be charged on all transactions. Commission for buying or selling memberships in the Exchange shall be 1% of the price. * 3% of the amount involved. MEMBERS Anderson, J. Willard, 487 Union Trust Bldg. Askin, George K., Union Trust Bldg. Askin & Company, J. M„ Columbia Bldg. BACHE & CO., J. 8., Oliver Bldg. Ballard & Co., W. E„ Keystone Bk. Bldg. Barbour & Company, John B., Magee Bldg. Bear & Co., S. Lee, Union Trust Bldg. Berberich, Alvin F., Perrysville, Pa. Berger, Andrew B., c/o Potter Title & Trust Co. Borntraeger, Carl H., 229 Fourth Ave. Bowman & Co., 704 People’s Bldg. Brinham, A. L„ 229 Fourth Ave. Brinker, Bell & Co., Union Trust Bldg. Campbell, L. W., Clarksburg, W. Va. Carothers & Company, James, Union Bank Bldg. Chapin & Co., S. B., Ill Broadway, New York. Chaplin & Co., 419 Wood St. Core, Jr., J. Calvin, 165 Beeson Ave., Uniontown, Pa. Crawford, Jas. S., Duquesne, Pa. Diehl, George, 61 Carrick Ave. Diffenderfer, Fred, 229 Fourth Ave. Dinkey, Jr., Chas. E., 229 Fourth Ave. Dixon, Joseph M.t 437 Fourth Ave. Dornberger & Co., C. S„ 229 4th Ave. Duckham & Co., W. A., 246 Union Trust Bldg. Edmundson, Jr., Eli, Columbia Bldg. EDWARDS A COMPANY, H. 8., Union Bank Bldg. Evans, Sanford B., 229 Fourth Ave. Fenner & Beane, 67 Broad St., New York, N. Y. Foster & Company, Bayard, 244 Oliver Bldg. Giles & Co., R. C., 229 Fourth Ave. Gillespie, I. L„ 1727 Grant Bldg. Glendinning & Co., Robt., Packard Bldg., Phila. Gluck, Hetzel & Co., Arrott Bldg. Goldsborough & Co., W. W., Union Bank Bldg. Goldsborough, Jr., W. W„ 19 Rector St., New York, N. Y. Goldsborough, T. C., 1701 Union Bank, Bldg. Grubbs, Scott Company, Union Trust Bldg. Hall, Cherry, Wheeler & Co., Rand Bldg., Buffalo, N. Y. Harriman & Co., Henry A., Farmers Bank Bldg. Hays, Louis B„ 1001 Keystone Bank Bldg. Hemphill, Noyes & Co., 15 Broad St., N. Y. Hornblower & Weeks, Cleveland, Ohio. Howley, Walter L., P. O. Box 988 Hubbard, John W„ 605 Granite Bldg. Kane, John A., 229 Fourth Ave. Kay, Richards & Company, Union Trust Bldg. King, Jr., W. C„ 1110-A Union Bank Bldg. Kissane, James V., 229 Fourth Ave. Kuhn, G. C., 229 Fourth Ave. Marshall & Co., Investment Bldg. MASTEN & COMPANY, A. E., First Nat’l Bank Bldg. McCutcheon, McKelvy & Durant, Union Trust Bldg. McJunkin, Patton & Company, 414 Union Bank Bldg. McLaughlin, MacAfee & Co., 844 Oliver Bldg. Mitchell & Craft, Washington, Pa. Moore, Leonard & Lynch, Union Trust Bldg. Moreland, A. M„ First Nat’l Bank Bldg. Morris, Brown & Company, 316 Fourth Ave. Neeb, Jr., H. A., 340 S. Winebiddie Ave. Noll & Co., I. D„ 50 Broad St., N. Y. Nuttall & Company, R. V., Park Bldg. Parrish & Company, Investment Bldg. Philllps-Schmertz & Co., Union Trust Bldg. Post & Flagg, 49 Broad St., New York, N. Y. Poutre, Ezra E., Arrott Bldg. Powell & Co., Elmer E„ Union Trust Bldg. Preston, Watt & Schoyer, Union Bank Bldg. Purman, Thomas R., Washington, Pa. Reilly, Eugene S., 430 Fourth Ave. Relnstadtler, Thomas J., 229 Fourth Ave. Reynolds & Company, Grant Bldg. Roberts, Daniel Risher, 229 Fourth Ave. Rosenbloom, Arthur M„ Union Trust Bldg. Singer, Deane & Scribner, 1045 Union Trust Bldg. Siviter, W. H., 229 Fourth Ave. Smith, Lew W., 229 Fourth Ave. Stein, Charles Jay, 1456 Inverness St. Sterling, Louis V., 42 Broadway, New York, N. Y. Stevenson, Vercoe, Fuller & Lorenz, Huntington Bank Bldg., Columbus, Ohio. Stimmel & Company, Union Trust Bldg. Stout & Company, Investment Bldg. Stubner & Co., C. J., 437 Union Trust Bldg. Sturgeon, John F., Mellon Nat’l Bank Bldg. Sunstein & Co., E., 610 Bessemer Bldg. Ullery, M. D., 235 Fourth Ave. Vercoe & Co., Huntington Nat’l Bank Bldg., Columbus, Ohio. WELLINGTON A CO., Union Trust Bldg. Wettach & Company, 218 Fourth Ave. Wettengel & Company, A. C„ Peoples Bank Bldg. Wilson, Walter J., Penn Ave. and Barbeau St. York, Darwin S., 229 Fourth Ave. Further Information on firms appearing In bold face type will be found In the selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1662 UTAH SALT LAKE CITY STOCK EXCHANGE E. A. Bering, 3rd Vice-President; B. W. Dixon, 2nd Vice-President; I. D. Lowe, lsi Vice-President; E. P. Emery, Assi. Secretary and Caller. J. H. Deming, Secretary and Treasurer; COMMISSION CHARGED Stocks selling at 75c and under $1.00------------------------ 134 cent per share Stocks selling under lc............................................. $1.00 per 1,000 shares Stocks selling at $1.00 and under $10.00.....................134 per cent on money $1.25 per 1,000 shares Stocks selling at lc and under 5c------- -------------Stocks selling at $10.00 and above......... ............ 1 per cent on money Stocks selling at. 5c and under 10c-------------------- $2.50 per 1,000 shares On last 2 items, on less than board lots_____________ 2 per cent on money Stocks selling at 10c and under 35c____________ ____ 34 cent per share No commission charge of less than One Dollar. ........ 1 cent per share Stocks selling at 35c and under 75c....... ............ MEMBERS Dixon Co., B. W., Scott Bldg. Allen, J. M„ Atlas Bldg. McLeod, J. N„ 1111 Walker Bk. Bldg. Downs, A., 718-17th St., Denver, Colo. Nebeker, W. D„ Stock Exchange Bldg. Baglin, George, Felt Bldg. Doscher. H. W„ Walker Bank Bldg. Badger, R. A. & Co., 16 West 2nd So. Street. Romney, W. W., c/o Continental Bank & Trust Co. Finn, Alex V., 25 Beaver St., New York, N. Y. Badger, Richard C., 2380 Washington Ave., Snow, V. S„ 282 Canyon Road. First Security Trust Co., Salt Lake City. Ogden. Ure, Pett & Morris, Inc., 21 East 2nd St. Barclay, J. A., Newhouse Bldg. Thomas, A. Blake, 208 Lyon Bldg., Reno, Nev. Gibson, E. J., Box No 17, Spokane, Wash. Berger, B. M„ 67 Wall St., New York, N. Y. Van Voorhis, L. P. First Security Co., Ogden Havenor, Pett & Co., Newhouse Bldg. Bering, E. A., Walker Bank & Trust Co. Walker Bk. & Tr. Co., Salt Lake City. Hogle, J. A. & Co., 132 So. Main Street. Bryan, B. B., 42 Broadway, New York, N. Y. Watson, Geo. H. & Co., 2234 E. 1st So. St. Hurley, A. L„ Boyd Park Bldg. Weggeland, Gordon, Walker Bank Bldg. Johnson, J. C„ 132 S. Main St. CHILD, BARCLAY CO., Exchange Bldg. Weiler, W. S., Stock Exchange Bldg. A. J. West, First Security Trust Co. Knight, James W., 1956 Penobscot Bldg., Detroit, Whitney, C. L., Stock Exchange Bldg. Mich. Cole, Allen Co.. Atlas Bldg. Woods, Wm. W., c/o E. A. Pierce & Co., 301 Conrad, W. K.,'Walker Bank Bldg. Larson, A. R„ c/o Elks Club, Salt Lake City. Montgomery St., San Francisco, Calif. Continental Bank & Trust Co., Salt Lake City, Lowe, I. D., 132 S. Main St. Woolley, F. R., Beason Bldg. Lynch. J. C. & Co., Kearns Bldg. Davies, Badger & Co,, 23 W. 2nd So. St. Zeitlin, Ralph, 312 Bartlett Bldg., Los Angeles, McFann, R. G., U. S. N. Bk. Bldg., Denver, Colo. Deming, J. H., Felt.Bldg., Salt Lake City. Calif. Officers: J. A. Barclay, President; Officers: E. Addison Rennolds, President; VIRGINIA RICHMOND STOCK EXCHANGE Robert P. Martin, Vice-President; COMMISSIONS J. Joseph May, Secretary and Treasurer STOCKS Selling under 50c......................... ....... ......... ....... ...................... 3% of amount BONDS Selling at 50c and under $1.00 per share................................ 5c per share Selling at $1.00 and under $5.00 per share--------------------- 734c Selling at $5.00 and under $10.00 per share........... ..............10c Municipals, public utilities, and rails....................................25c per hundred Selling at $10 and under $15 per share -........ .................. 12J4c per share All others................................................................. ...............50c “ “ Selling at $15 and .under $50.......................................--- 25c Selling at $50 and under $150.............................................. 50c Selling at $150 and over...i---------___:---------j-i*i...-...1.00 “ “ MEMBERS Mason-Hagan, Inc., 916 E. Main Street. RICHMOND CORP., 72G E. Main Street. Abbott, Proctor & Paine, 911 E. Main St. Branch, Cabell & Co., 814 E. Main St. Miller & Patterson, 203 Mutual Bldg. Scott & Stringfellow, Mutual Bldg. Standard Securities Corp., State Planters Bank Branch, Thomas & Co., 1101 E. Main St. Bldg. Burch, Caskie G. & Company, 20 N. 9th St. NOLTING, FRED’K E., INC., 8th and Main Wheat, James C., American Nat’l Bk. Bldg. Sts. Williams, John C. & Company, 1107 E. Main St. Davenport & Company, 113 E. Main Street. WASHINGTON SEATTLE STOCK EXCHANGE (302 Exchange Bldg.) Charles G. Mullen, President; F. K. Easter, Vice-President; Sherman Ellsworth, Secretary; Lyle F. Wilson, Treasurer; Charles T. Donworth, Counsel. RATES OP COMMISSION (In effect: October 14, 1985) • In effect October 14,1935 BOARD LOT MINIMUM RATES OF COMMISSION 100 shares up to $10.00 On Stocks Selling: 25 shares for $10.00 to $100.00 v Under $1.00 per share-------- ----------- -----------------------------■ 5c 10 shares over $100.00 At $1.00 and under $2.50 per share----- .................................. ^--- 734c The minimum commission charge shall be $2.50 on stock selling under At $2.50 and under $5.00 per share____ -------------- ----------:—12)4c $10.00 per share, and $5.00 on stock selling over $10.00 per share. At $5.00 and under $15.00 per share................ ....... ...........-......... 15c At $15.00 and under $35.00 per share................ ........... -............... 25c On all transactions where the total amount of money involved is less than At $35.00 and under $50.00 per share—............. 35c $25.00, the commission charge shall be discretionary with the member. At $50.00 and under $100.00 per share_____________________ 50c BONDS At $100.00 and up pef share----------- ------------- i.....................__$1.00 $5.00 per $1,000 par value (regardless of number) (5c per share more for odd lots) $3.75 per $500 par value MEMBERS Greening & Co., Thos. B., 816 Second Ave. Mogan & Theis, 1003 Green Bldg. Adam & Co., Exchange Bldg, Northern Securities Co., 615 Boren Ave. Blackford, J. C„ Hoge Bldg. Harper & Son Co., Wm. P., Hoge Bldg. Bramhall & Stein, 1105 Hoge Bldg. Hartman & Hartman, Burke Bldg. Oaks, Prescott, 607-1411 Fourth Ave. Bldg. Brown-Jeklin Co., Exchange Bldg. Herrin & Co., H. M., Exchange Bldg. Pacific National Bank, Second and Madison. Crawford-Good win Co. ,The, 1411 Fourth Ave. Bldg. Hughbanks, Inc., Dexter Horton Bldg. Peoples Bank & Trust Co., 1414 4th Ave. Davis & Co., 1419-4th Ave. Huston & Co., Harold H., Hoge Bldg. Puget Mortgage Securities ,Inc., Insurance Bldg. Drumheller, Erlichman & White, Exchange Bldg. Pratt & Co.. H. P., Hoge Bldg. Kutz & Co., John A., 1010 Second Ave. Easter & Co., F. K., 717 Second Ave. Ricker, Jr., Joseph M., I411-4th Ave. Bldg. Fairbanks, H. W., & Co., 1411 Exchange Bldg. Latimer & Co., A. G., Dexter Horton Bldg. Ferris & Hardgrove, Exchange Bldg. Securities Exchange, Inc., 335 Medical Arts Bldg. Lewis, Stone & Co., 1012 Second Ave. Fix & Co., William H , Dexter Horton Bldg. Strout & Co., E. A., 1411 Fourth Ave. Bldg. Lincoln, Erwin & Co., 1214 Exchange Bldg. Gelletly & Co., R., 655 W. Pender St., Vancouver, Speckert, F. J., 105 Cherry St. Lockett & Co., G„ 4736 45th St., S. W. B C Trusteed Estates of Wash., Central Bldg. MacDonald, Alexander, 104 Aloha St. Gibson & Co., E. J., 5 Wall St., Spokane. United National Corporation, Exchange Bldg, McBurney, J. F., 1003 Green Bldg. Grande, Stolle & Co., 1605 Hoge Bldg. McConahy, C. D„ American Bank Bldg. Graves & Co., F. D., Bellingham Nat’l Bank Bldg., von Herberg, J., Liberty Theater Bldg. Meiklejohn & Brown. 1321 Smith Tower. Bellingham. __________ _ Williams & Co., J. L., 1411 Exchange Bldg. Officers: WEST VIRGINIA WHEELING STOCK EXCHANGE (318 Wheeling Steel Bldg.) Russell D. Irvine, Vice-President; C. M. Frye, Secretary-Treasurer COMMISSION RATES Price Wheeling Stock Exchange Rate per Share Selling up to 34% inc___________________________ 25c pershare Selling at 35 up to 99% inc_____________ 50c pershare Selling at $100 and above______ $1.00 pershare Minimum commission on any transaction $3.00, except where amount involved shall be less than $10.00 when it shall be as mutually agreed upon. Commission: In cases where stocks are listed on both Wheeling Stock Exchange and New York Stock Exchange, the minimum rate of commission may be the minimum commission charged on New York Stock Exchange. MEMBERS OF WHEELING STOCK EXCHANGEE Firms Represented by Hazlett & Burt, Wheeling Steep Corp. Bldg................... .........................._H. C. Hazlett; D. A. Burt Geo. W. Baron & Co., Wheeling Steel Corp. Bldg. _____.........................................Wm. H. Wheeler A. E. Masten & Co., Central Union Bldg.___________ _____ ____ _____________Louis F. Brand McGregou Irvine & Anderson, 13th & Chapline St................... .Edgar R. McGregor; Russell D. Irvine John E. Stevenson, Inc., Hawley Bldg..............................................__John E. Stevenson; Joe Jefferson Winthrop, Mitchell & Co., City Bank Bldg. .......................................... ..............William E. Wardman Officers: Wm. H. Wheeler, President; Further information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list in each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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