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INVESTMENT BANKERS ASSOCIATION OF AMERICA BOARD OF GOVERNORS PRESIDENT Francis E. Frothingham Boston Coffin & Burr, Inc. VICE PRESIDENTS W. Gregory, Jr. Houston Gregory - Eddleman Company T. Weller Kimball Chicago Glore, Forgan & Co. James J. Minot, Jr. Boston Jackson & Curtis Sidney J. Weinberg New York Goldman, Sacks & Co. Jean C. Witter San Francisco Dean Witter & Co. Thomas EXECUTIVE VICE PRESIDENT Chicago 33 South Clark Street Aldbn H. Little TREASURER D. T. Richardson Kelley, Richardson & Co., Inc. Chicago GOVERNORS New York Kuhn, Loeb & Co. T. Crane New York Brown Harriman & Co., Incorporated Perry E Hall New York Morgan Stanley & Co. Incorporated George W. Bovenizer Ralph GOVERNORS GOVERNORS New York Chase National Bank of the City of New York Allan M. Pope New York The First Boston Corporation Hearn W. Streat New York Bancamerica-Blair Corporation Francis T. Ward New York Clark, Dodge & Co. Edward B. Hall Chicago Harris, Hall & Company Francis F. Patton Chicago A. G. Becker & Co. P. A. Walters Chicago Stone & Webster and Blodget, Inc. Charles S. Cheston Philadelphia Barney Smith & Co. Devebeux C. Josephs Philadelphia Graham, Parsons & Co. Emmett F. Connely Detroit First of Michigan Corporation Robert PI. Parsons Los Angeles Pacific Company of California Albert E. Van Court Los Angeles William R. Staats Co. Russell D. Bell Montreal Greenshields & Company, Inc. William R. Daley Cleveland Otis & Co. Royal D. Kercheval St. Louis The Boatmen’s National Bank Louis J. Nicolaus St. Louis Stifel, Nicolaus & Co., Inc. Baltimore Baker, Watts & Co. O. Stubbs Boston Whiting Weeks & Knowles Incorporated Ernest O. Dorbritz Pittsburgh Moore, Leonard & Lynch Colis Mitchum San Francisco Mitchum, Tully & Co. William H. Brand Milwaukee The Securities Company of Milwaukee, Inc. Yelverton E. Booker Washington Y. E. Booker & Co. Chapman H. Hyams, 3rd New Orleans Moore and Hyams James M. Hutton, Jr. Cincinnati W. E. Hutton & Company John A. Prescott Kansas City Prescott, Wright, Snider Company Ben B. Ehrlichman Seattle Drumheller, Ehrlichman & White John J. Sullivan Denver Sullivan & Company Harold E. Wood St. Paul Harold E. Wood <fe Company William M. Marshall Spokane Spokane and Eastern Branch of Seattle—First National Bank John S. Linen W. Claude Wilhide John SECRETARY Robert Stevenson, 3rd Chicago 33 South Clark Street APPOINTED OFFICERS AND COUNSEL FIELD SECRETARY Arthur G. Davis Chicago 33 South Clark Street MUNICIPAL SECRETARY Dudley C. Smith Chicago 33 South Clark Street EDUCATIONAL DIRECTOR David Dillman Chicago 33 South Clark Street ASSISTANT SECRETARIES Mary R. Lincoln Chicago Emily L. Black Chicago 33 South Clark Street 33 South Clark Street OFFICE COUNSEL Chicago Theodore S. Chapman 111 West Monroe Street OFFICIAL REPORTER George J. Chicago Drobnis 69 West Washington Street GROUP CHAIRMEN CALIFORNIA Robert H. Parsons Los Angeles Pacific Company of California CANADA Montreal The Dominion Securities Corporation Limited R-E. Haldenby MISSISSIPPI VALLEY A. Roy Dickie Whitaker & Company Chicago Bacon, Whipple & Co. EASTERN PENNSYLVANIA Edward Hopkinson, Jr. Philadelphia Drexel & Co. MICHIGAN W. Campbell Detroit Campbell, McCarty & Company, Inc. Frederick Edwin White, i Gerald Boston Robert NEW ENGLAND Harcourt Amory Smith, Barney & Co. CENTRAL STATES Jay. N. Whipple ROCKY MOUNTAIN L. Schlessman Denver Brown, Schlessman, Owen & Company St. Louis SOUTHEASTERN S. St. Paul Alex, Brown & Sons NEW YORK John K. Starkweather Starkweather & Co. New York D. McDonald McDonald-Coolidge & Co. Cleveland OHIO VALLEY G. McKie Cincinnati The Weil, Roth & Irving Company Stanley Harold P. B. Henry J. Zilka Conrad, Bruce & Co. Portland Atlanta Robinson, Jr. Trust Company of Georgia NORTHERN OHIO C. B. Baltimore SOUTHERN James R. SOUTHWESTERN Bailey Kansas City Commerce Trust Company TEXAS Garrett Dallas Garrett & Co., Inc. PACIFIC NORTHWEST MINNESOTA Kalman & Company Belknap Frederic WESTERN PENNSYLVANIA P. Mullins Pittsburgh A. E. Masten & Company NATIONAL COMMITTEE CHAIRMEN Albert BUSINESS CONDUCT E.^Van Court William R. Staats Co. Emmett BUSINESS PROBLEMS F. Connely First of Michigan Corporation Louis Los GOVERNMENT AND FARM LOAN BONDS G. Rouse New York Guaranty Trust Company of New York Angeles Robert Detroit Harold CONSTITUTION AND BY-LAWS J. Nicolaus St. Louis Stifel, Nicolaus & Co., Inc. INDUSTRIAL SECURITIES New York Smith, Barney & Co. Karl Weisheit EDUCATION Francis F. Patton A. G. Becker & Co. James J. FEDERAL TAXATION Jr. Jackson & Curtis Minot, Chicago Weller Kimball Carlton Glore, Forgan & Co. MEMBERSHIP P. A. Chicago John FOREIGN SECURITIES P. Fuller New York Schroder Rockefeller & Co., Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTMENT COMPANIES New York J. & W. Seligman & Co. Earle Bailie Boston FINANCE T. GROUP CHAIRMEN’S E. Wood St. Paul Harold E. Wood & Company Chicago Stone & Webster and Blodget, Inc. Walters MUNICIPAL SECURITIES S. Linen New York Chase National Bank of the City of New York PUBLIC SERVICE SECURITIES D. Woods New York The First Boston Corporation George 1661 Edward RAILROAD SECURITIES H. Leslie New York Wood, Struthers & Co. REAL ESTATE SECURITIES Ben B. Ehrlichman Drumheller, Ehrlichman & White Seattle STATE AND LOCAL TAXATION W. Gregory, Jr. Houston Gregory-Eddleman Company Thomas STATE LEGISLATION Jay N. Whipple Bacon, Whipple & Co. Chicago TRADING O. Stubbs Boston Whiting, Weeks & Knowles Incorporated John SUBCOMMITTEES DISTRIBUTION John H. K. Starkweather Starkweather & Co. New York SALESMEN’S COMPENSATION Philadelphia H. Vaughan Clarke & Company Vaughan Clarke MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA 1662 ALABAMA Southern Group BIRMINGHAM ♦Courts & Co., 12 N. 20th St. ♦Equitable Securities Corporation, Webb-Crawford Bldg. ♦King, Mohr & Co., Inc., Webb-Crawford Bldg. ♦Milhous, Gaines & Mayes, Webb Crawford Bldg. Watkins, Morrow & Co., Woodward Bldg. MOBILE ♦King, Mohr & Co., Inc., Merchants National Bank Bldg. MONTGOMERY King, Mohr & Co., Inc., First National Bank Bldg. ARIZONA ♦Massachusetts Distributors, Inc., 621 S. Spring St. Miller & Co., Revel, 650 S. Spring St. ♦Mitchum, Tully & Co., 650 S. Spring St. Moulton & Company, R. H., 510 S. Spring St. Pacific Company of California, 623 S. Hope St. Page, Hubbard & Asche, 210 W. Seventh St. Rath Company, Howard G., 523 W. Sixth St. ♦Robinson & Co., B. B., 639 S. Spring St. ♦Rogers & Company, Inc., Hartley, 210 W. Seventh St. ♦Rollins & Sons, Inc., E. H„ California Bank Bldg. ♦Schwabacher & Co., 643 S. Spring St. Security-First National Bank of Los Angeles, 561 S. Spring St. ♦Smith, Barney & Co., 650 S. Spring St. Staats Co., William R., 640 S. Spring St. Stern, Frank & Meyer, Union Bank Bldg. ♦Weeden & Co.. 650 S. Spring St. White, Wyeth & Co., 647 S. Spring St. ♦Witter & Co., Dean, 632 S. Spring St. ♦Woods, Jr., William W., Representative Mackubin, Legg & Company, 515 W. Sixth St. ♦Wulff, Hansen & Co., 530 W. Sixth St. Rocky Mountain Group PHOENIX Hanchett Bond and Investment Co., Inc., H. G. Security Bldg. Refsnes, Ely, Beck & Co., 112 W. Adams St. ARKANSAS Mississippi Valley Group LITTLE ROCK Walton, Sullivan & Co., 509 Louisiana St. CALIFORNIA 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. California Group BERKELEY ♦Cavalier & Co., Wm., American Trust Bldg. BEVERLY HILLS ♦Battson & Co., 9470 Santa Monica Blvd. ♦Griffith-Wagenseller & Durst, Bank of America Bldg. ♦Witter & Co., Dean, 9474 Santa Monica Blvd. DEL MONTE ♦Schwabacher & Co., Hotel Del Monte EUREKA ♦Blyth & Co., Inc., 330 “E” St. FRESNO ♦Witter & Co., Dean, Patterson Bldg. GLENDALE ♦Bayly Brothers, Inc. of California, 117 E. Broad way. HOLLYWOOD ♦Battson & Co., 6381 Hollywood Blvd. LONG BEACH ♦Banks, Huntley & Company, Security Bldg. ♦Battson & Co., Security Bldg. ♦Bayly Brothers, Inc. of California, 132 Pine Ave. ♦Bennett, Richards & Hill, Farmers & Merchants Bldg. ♦Crowell, Weedon & Co., Farmers & Merchants Bldg. ♦Douglass & Co., Nelson, Farmers & Merchants Bldg. ♦Harris & Co., F. E., 225 E. First St. ♦Mitchum, Tully & Co., Hartwell Bldg. ♦Pacific Company of California, Security Bldg. ♦Witter & Co., Dean, 133 E. First St. LOS ANGELES ♦Anglo California National Bank of San Francisco, The. 215 W. Sixth St. ♦Bankamerica Company, 650 S. Spring St. Banks, Huntley & Company, 634 S. Spring St. Bateman, Eichler & Co.. 453 S. Soring St. Battson & Co., 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. ♦Bond & Goodwin, Inc., 621 S. Spring St. Brashears & Company, G„ 510 S. Spring 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. Edgerton, Riley & Walter, 621 S. Spring St. ♦First Boston Corporation, The, 623 S. Hope St. Gregory & Co., R. N„ 210 W. Seventh St. Griffith-Wagenseller & Durst, 626 S. Spring St. Harris & Co., F. E., 650 S. Spring St. ♦Learoyd & Nightingale, Inc., 621 S. Spring St. Lewis & Company, M. H„ 453 S. Spring St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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. ♦Griffith-Wagenseller & Durst, First Trust Bldg. 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. ♦White, Wyeth & Co., 53 S. Euclid Ave. ♦Witter & Co., Dean, 355 E. Green St. RIVERSIDE ♦Battson & Co., Citizens National Bldg. ♦Blyth & Co., Inc., Loring Block ♦Pacific Company of California, 3695 Market St. SACRAMENTO ♦Baker & Co., H. R., Forum 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. ♦White, Wyeth & Co., 474 Court St. SAN DIEGO ♦Bankamerica Company, 625 Broadway ♦Banks, Huntley & Company, San Diego Trust & Savings Bldg. ♦Bayly Brothers, Inc. of California, Bank of America Bldg. ♦Bennett Richards & Hill, Bank of America Bldg. ♦Brashears & Company, G.. 530 Broadway ♦Griffith-Wagenseller & Durst, First National Bldg. ♦Pacific Company of California, San Diego Trust & Savings Bldg. ♦Rollins & Sons, Inc., E. H., Bank of America Bldg. ♦White, Wyeth & Co., 530 Broadway. ♦Mercantile-Commerce Bank and Trust Company, Russ Bldg. ♦Miller & Co., Revel, 315 Montgomery St. Mitchum, Tully & Co., 405 Montgomery St. ♦Moulton & Company, R. H., 405 Montgomery St. ♦Pressprich & Co., R. W., 220 Brush St. ♦Rogers & Company, Inc., Hartley, Russ Bldg. ♦Rollins & Sons, Inc., E. H., 235 Montgomery St. ♦Salomon Bros. & Hutzler, Russ Bldg. Schwabacher & Co., 600 Market St. ♦Staats Co., William R., 155 Montgomery St. Stone & Youngberg, 405 Montgomery St. Weeden & Co., 315 Montgomery St. Wells Fargo Bank & Union Trust Co., 4 Mont gomery St. Witter & Co., Dean, 45 Montgomery St. ♦Wood, Struthers & Co., Russ Bldg. Wulff, Hansen & Co., Russ Bldg. SAN JOSE ♦Baker & Co., H. R„ First National Bank Bldg. ♦Bennett Richards & Hill, First National Bank Bldg. SANTA ANA ♦Cavalier & Co.. Wm„ 516 N. Main St. ♦Miller & Co., Revel, First National Bank Bldg. SANTA BARBARA ♦Battson & Co., 831 State St. ♦Schwabacher & Co., 930 State St. SANTA MONICA ♦Douglass & Co., Nelson, 220 Santa Monica Blvd. STOCKTON ♦Witter & Co., Dean, 18 S. Sutter St. WESTWOOD ♦Witter & Co., Dean, 1077 Broxton Ave. COLORADO Rocky Mountain Group COLORADO SPRINGS ♦Brown, Schlessman, Owen & Company, Exchange National Bank Bldg. Hughes and Company, E. W„ Mining Exchange Bldg. ♦Peters, Writer & Christensen, Inc., Mining Exchange Bldg. DENVER Boettcher and Company, 828 Seventeenth St. Bosworth, Chanute, Loughridge & Company, 660 Seventeenth St. Brown & Company, Donald F., U. S. National Bldg. Brown, Schlessman, Owen & Company, Security Bldg. Bulkley and Company, R. G., 1660 Stout St. ♦Bullock, Calvin, Colorado National Bank Bldg. Collins. Croke & Co.. First National Bank Bldg. Coughlin and Company, Security Bldg. Engle, Adams & Company, 650 Seventeenth St. Garrett-Bromfield & Co., Security Bldg. Gray, Inc., Gray B„ First National Bank Bldg. International Trust Company, The, 625 Seventeenth St. Mullen Investment Company, The J. K., 1717 Stout St. ♦Otis & Co., First National Bldg. Peck-Brown & Co., U. S. National Bldg. Peters, Writer & Christensen, Inc., U. S. National Bldg. ♦Rollins & Sons, Inc., E. H„ Security Bldg. Scanlan & Co., Earl M., Colorado Natl. Bk. Bldg. Sidlo, Simons, Roberts & Co., First National Bldg. Sudler & Co., Amos C., First National Bank Bldg. Sullivan & Company, Security Bldg. Vallery & Co., Inc., Geo. W., Security Bldg. Vasconcells, Hicks and Company, Security Bldg. PUEBLO SAN FRANCISCO 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. ♦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. Eastland & Co., 1 Montgomery St. Elworthy & Co., Ill Sutter St. ♦First Boston Corporation, The, Russ Bldg. Heller, Bruce & Co., Mills Tower ♦Lewis & Company, M. H., 315 Montgomery St. ♦McDonnell & Co., 633 Market St. ♦BRANCH OFFICE Hutchinson-Frye & Co., Thatcher Bldg. ♦Sullivan & Company, Thatcher Bldg. CONNECTICUT New York Group BRIDGEPORT ♦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. ♦Blyth & Co., Inc., 75 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. ♦Equitable Securities Corporation, 75 Pearl St. ♦Estabrook & Co., 750 Main St. ♦First Boston Corporation, The, 36 Pearl St. ♦Foster & Co., Inc., 49 Pearl St. ♦Kidder, Peabody & Co., 36 Pearl St. ♦Lazard Freres & Co., 36 Pearl St. ♦Lee Higginson Corporation. 36 Pearl St. ♦Paine, Webber & Co., 49 Pearl St. ♦Pressprich & Co., R. W., 36 Pearl St. Putnam & Co., 6 Central Row ♦Seligman & Co., J. & W., 75 Pearl St. ♦Shields & Company, 75 Pearl St. ♦Smith, Barney & Co., 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-Connectlcut 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., 205 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. ST. PETERSBURG Wright & Co., Ed. C„ 29 Third St., N. TAMPA Kuhn, Morgan & Co., Inc., First National Bank Bldg. GEORGIA Southern Group ATLANTA ♦Blyth & Co., Inc., Citizens & Southern Bldg. Courts & Co., 11 Marietta St., Equitable Company, The, Trust Company of Georgia Bldg. ♦Equitable Securities Corporation, First National Bldg. Evans & Company, Clement A., First National Bldg. Hilsman & Co., Inc., J. H., Citizens & Southern Bldg. ♦Johnson, Lane, Space & Co., Inc., Citizens & Southern Bldg. Milhous, Gaines & Mayes, Rhodes-Haverty Bldg. Robinson-Humphrey Company, The, RhodesHaverty Bldg. ♦Salomon Bros. & Hutzler, First National Bldg. ♦Starkweather & Co., First National Bldg. Trust Company of Georgia, 15 N. Pryor St., N. E. AUGUSTA| ^13 ' ♦Johnson, Lane, Space & Co., Inc., Herald Bldg. HUB SAVANNAH Johnson, Lane, Space & Co., Inc., 101 E. Bay St. ♦Trust Company of Georgia, Liberty National Bank Bldg. IDAHO Pacific Northwest Group WATERBURY Griggs Co., The R. F., 50 Leavenworth St. ♦Scranton & Co., Chas. W., 170 Grand St. BOISE Sudler, Wegener & Co., Inc., First National Bldg. DELAWARE ILLINOIS Eastern Pennsylvania Group Central States Group WILMINGTON ♦Clark & Co.. E. W„ duPont Bldg. ♦duPont & Co., Francis I., du Pont Bldg. ♦Harriman & Keech, Delaware Trust Bldg. ♦Rollins & Sons, Inc., E. H., Delaware Trust Bldg. ALTON ♦Francis, Bro. & Co., First National Bank Bldg. DISTRICT OF COLUMBIA Southeastern Group WASHINGTON Auchlncloss, Parker & Redpath, 719 Fifteenth St., N. W. Booker & Co., Y. E., American Security Bldg. ♦Brown & Sons, Alex., Union Trust Bldg. Brown, Goodwyn & Olds, American Security Bldg. ♦Brown Harriman & Co., Inc., 730 Fifteenth St., N. W. Ferris & Company, Inc., George M„ Washington Bldg. Folger, Nolan & Co., Inc., American Security Bldg. ♦Harriman & Keech, 815 Fifteenth St., N. W. ♦Hemphill, Noyes & Co., Shoreham Bldg. Henderson-Winder Company, Union Trust Bldg. Johnston, Lemon & Co., Southern Bldg. Mackall, William W., Jr., Woodward Bldg. ♦Mackubin, Legg & Company, Woodward Bldg. ♦Murphy & Co., G. M.-P„ 1508 H St., N. W. ♦Smith, Barney & Co., Shoreham Bldg. ♦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 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AURORA ♦Allyn and Company, Inc., A. C., Merchants National Bank Bldg. Wortman & Co., G. R., Aurora National Bank Bldg. CHICAGO Allyn and Company, Inc., A. C., 100 W. Monroe St. American National Bank and Trust Company, 33 N. LaSalle 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. Ballman & Main, 105 W. Adams St. ♦Bancamerica-Blair Corporation, 135 S. La Salle St. ♦Bankers Trust Company, 105 S. La Salle St. .Barcus, Kindred & Co., 231 S. La Salle St. ♦Barr Brothers & Co., Inc., 135 S. La Salle St. Bartlett, Knight & Co., 105 W. Adams St. Becker & Co., A. G., 100 S. La Salle St. ♦Bennett Bros. & Johnson, 135 S. La Salle St. Blair, Bonner & Company, 135 S. La Salle St. ♦Blake Brothers & Company, 209 S. La Salle St. ♦Blyth & Co., Inc., 135 S. La Salle St. ♦Boettcher and Company, 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, The, 38 S. Dearborn St. ♦Brown Harriman & Co.. Inc., 135 S. La Salle St. ♦Browne, Warren, Representative Mackubin, Legg and Company, 105 W. Adams 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. Byllesby and Company, H. M., 231 S. La Salle St. Central Republic Company, 209 S. La Salle St. Channer Securities Company, 39 S. La Salle St. Childs and Company, Inc., C. F., 141 W. Jackson Blvd. City National Bank and Trust Company of Chicago, 208 S. La Salle St. Clarke, Inc., John W„ 135 S. La Salle St. ♦BRANCH OFFICE 1663 Cleveland & Company, Inc., Paul W., 120 S. La Salle St. Continental Illinois National Bank and Trust Company of Chicago, 231 S. La Salle St. 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. Doyle, O’Connor & Co., 135 S. La Salle St. Dunbar & Company, John B., 135 S. La Salle St. Enyart, Van Camp & Feil, Inc., 39 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, The, 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. Harris, Hall & Company, 111 W. Monroe St. Harris Trust and Savings Bank, 115 W. Monroe St. Harrison, O’Gara & Co., 209 S. La Salle St. Haskell, Scott & Jennings, Inc., 120 S. La Salle St. ♦Hemphill, Noyes & Co., Board of Trade Bldg. Hickey & Co., 135 S. La Salle St. ♦Hoit, Rose & Troster, 231 S. La Salle St. ♦Hornblower & Weeks, 39 S. La Salle St. Huyck and Company, A. S„ 100 W. Monroe St. Illinois Company of Chicago, The, 231 S. La Salle St. ♦Jackson & Curtis, 231 S. La Salle St. Joiner & Co., Inc., T. E„ 135 S. La Salle St. Kelley, Richardson & Co., Inc., 135 S. La Salle St. Kerfoot & Company, Inc., 141 W. Jackson Blvd. ♦Kidder, Peabody & Co., 135 S. La Salle St. Konsberg & Company, 53 W. Jackson Blvd. ♦Lazard Freres & Co., 135 S. La Salle St. ♦Learoyd & Nightingale, Inc., 120 S. La Salle St. ♦Lee Higginson Corporation, 141 W. Jackson Blvd. ♦Lehman Brothers, 231 S. La Salle St. Lewis, Pickett & Co., Inc., 105 W. Adams St. ♦Massachusetts Distributors, Inc., 120 S. La Salle St. Mather & Company, Inc., Morris, Board of Trade Bldg. 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. ♦Milwaukee Company, The, 135 S. La Salle St. Mitchell, Hutchins & Co., 231 S. La Salle St. ♦Moseley & Co., F. S„ 135 S. La Salle St. Nichols, Garrett & Co., 135 S. La Salle St. Nichols, Terry & Dickinson, Inc., 141 W. Jackson Blvd. Northern Trust Company, The, 50 S. La Salle St. Nuveen & Co., John, 135 S. La Salle St. ♦Ohrstrom & Co., Inc., G. L., 141 W. Jackson Blvd. ♦Otis & Co., 105 W. Adams St. ♦Paine, Webber & Company, 209 S. La Salle St. ♦Pressprich & Co., R. W„ 135 S. La Salle St. ♦Riter & Co., 134 S. La Salle St. Robinson & Co., B. B., 39 S. La Salle St. ♦Rogers & Company, Inc., Hartley, 105 S. La Salle St. Rogers & Tracy, Inc., 120 S. La Salle St. ♦Rollins & Sons, Inc., E. H., 231 S. La Salle St. Ross Securities Co., Thompson, 29 S. La Salle St. ♦Salomon Bros. & Hutzler, 231 S. La Salle St. Seerley & Company, Inc., John J., 105 S. La Salle St. Selected Investments Company, 135 S. LaSalle St. ♦Shields & Company, 135 S. La Salle St. Showers, Robert, 10 S. La Salle St. Sills, Troxell & Minton, Inc., 209 S. La Salle St. ♦Smith, Barney & Co., 105 W. Adams St. Speer & Sons Company, II. C., 135 S. La Salle St. Stern and Company Incorporated, Lawrence, 231 S. La Salle St. ♦Stifel, Nicolaus & Co., Inc., 105 W. Adams St. Stokes, Woolf & Co., Inc., 105 S. La Salle St. ♦Stone & Webster and Blodget, Inc., 33 S. Clark St. ♦Stranahan, Harris & Company, Inc., 135 S. La Salle St. Straus Securities Corporation, 135 S. La Salle St. ♦Taussig, Day & Company, Inc., 208 S. La Salle St. Webber, Darch & Company, 208 S. La Salle St. Webber-Simpson & Company, 105 W. Adams St. Welsh and Green, Incorporated, 135 S. LaSalle St. ♦White-Phillips Company, Inc., The, 39 S. La Salle St. (Branch of White-Phillips Corporation, Daven port) Winthrop, Mitchell & Co., 141 W. Jackson Blvd. Wittbold & Co., John, 10 S. La Salle St. ♦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., Alliance Life Bldg. ♦Central Republic Company, Alliance Life Bldg. Rogers and Company, Inc., N. L., 416 Main St. MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA 1664 ROCKFORD ♦Shields & Company, Talcott Bldg. SPRINGFIELD Dixon-Bretscher Company, Inc., The, First National Bank Bldg. Fernandes & Company, Monroe at Fifth St. INDIANA Central States Group FORT WAYNE Central Securities Corporation, Lincoln Bank Tower INDIANAPOLIS ♦Blyth & Co., Inc., Circle Tower ♦Brown Harriman & Co., Inc., Fletcher Trust Bldg. •Davis & Co., Paul H„ Circle Tower ♦Hemphill, Noyes & Co., Fletcher Trust Bldg. Indianapolis Bond and Share Corporation, 129 E. Market St. ♦Moseley & Co., F. S„ Circle Tower ♦Straus Securities Company, 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 & 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 ♦Murdoch, Dearth & White, Inc., Union Bank Bldg. Priester, Quail & Co., Davenport Bank Bldg. Vieth, Duncan & 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. Iowa-Des Moines National Bank & Trust Com pany, Sixth and Walnut Sts. Jackley & Company, Equitable Bldg. ♦Moseley & Co., F. S., Equitable Bldg. Murdoch, Dearth & White, Inc., Des Moines Bldg. Polk-Peterson Corporation, Des Moines Bldg. ♦Priester, Quail & Co., Equitable Bldg. ♦Seerley & Company, Inc., John J„ Des Moines Bldg. ♦White-Phillips Corporation, Iowa-Des Moines National Bldg. IOWA CITY ♦McIntyre & Co., Scott, Johnson County Bank Bldg. WATERLOO ♦Allyn and Company, Inc., A. C„ Waterloo Bldg. ♦Hanna and Company, W. D., Pioneer Bldg. ♦Polk-Peterson Corporation, Commercial Bldg. KANSAS Southwestern Group KANSAS CITY Commercial National Bank, 601 Minnesota Ave. TOPEKA Estes and Company, 103 E. Tenth St. WICHITA Branch Investment Company, The Vernon H., Brown Bldg. Brown-Crummer Investment Company, The, Schweiter Bldg. Dunne-Israel Co., The, Schweiter Bldg. Lathrop-Hawk-Herrick Company, Inc., First National Bank Bldg. Ranson-Davidson Investment Company, The, Beacon Bldg. Small-Milburn Company, The, Wheeler-KellyHagny Bldg. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis KENTUCKY MASSACHUSETTS Ohio Valley Group New England Group LEXINGTON ♦Hutton & Company, W. E., Hernando Bldg. Van Hooser & Company, J. D., 261 W. Short St. BOSTON ♦Adams & Peck, 35 Congress St. ♦Adams, Mudge & Co., Ill Devonshire St. ♦Allyn and Company of New England, Inc., A. C„ 30 Federal St. LOUISVILLE Almsted Brothers, 425 W. Market St. Bankers Bond Co., Inc., The Kentucky Home Life Bldg. ♦Blyth & Co., Inc., Kentucky Home Life Bldg. Hilliard & Son, J. J. B„ 419 W. Jefferson St. Moore & Co., Berwyn T„ Marion E. Taylor Bldg. ♦Reynolds & Co., Heyburn Bldg. ♦Stein Bros. & Boyce, Starks Arcade Bldg. Willson & Co., James C„ 130 S. Fifth St. LOUISIANA Southern Group NEW ORLEANS Anagnosti & Walker, Inc., Whitney Bank Bldg. Dane & Weil, Canal Bank Bldg. ♦Equitable Securities Corporation, Whitney Bank Bldg. Lamar, Kingston & Labouisse, Canal Bank Bldg. Levy & Rooney, Inc., Whitney Bank Bldg. Moore and Hymans, 610 Common St. National Bank of Commerce in New Orleans, The, Baronne & Common Sts. Newman, Harris & Co., Maritime Bldg. Nusloch, Baudean & Smith, Hibernia Bank Bldg. Saunders Company, Inc., P. H., American Bank Bldg. Scharff & Jones, Inc., Whitney Bank Bldg. Vass & Co., Inc., Lachlan M., Whitney Bank Bldg. Weil & Company, Inc., Union Bldg., Arcade Whitney National Bank of New Orleans, St. Charles & Gravier Sts. SHREVEPORT Barrow, Leary & Co., 515 Market St. ♦Scharff & Jones, Inc., 513 Market St. MAINE New England Group BANGOR Pierce, White & Drummond, Eastern Trust Bldg. PORTLAND ♦Baldwin & Company, Chapman Bldg. ♦Blyth & Co., Inc., Fidelity Bldg. ♦Bond & Goodwin, Incorporated, 120 Exchange St. ♦Brown Harriman & Co., Incorporated, 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. ♦Paine Webber & Co., Fidelity Bldg. Payson & Co., H. M., 93 Exchange St. ♦Putnam & Company, Inc., F. L., 97 Exchange St. ♦Rollins & Sons, Inc., E. H., Fidelity Bldg. MARYLAND Southeastern Group BALTIMORE Allen & Company, Edward D., Keyser Bldg. ♦Auchincloss, Parker & Redpath, Mercantile Trust Bldg. Baker, Watts & Co., Calvert & Redwood Sts. ♦Bankers Trust Company, Maryland Trust Bldg. Brown & Sons, Alex, 135 East Baltimore St. ♦Byllesby & Co., H. M., Munsey Bldg. Cahn & Company, Frank B., Equitable Bldg. Daly & Co., Owen, 23 South St. Equitable Trust Company, The, Calvert & Fay ette Sts. ♦First Boston Corporation, The, First National Bank Bldg. Garrett & Sons, Robert, South & Redwood Sts. Hudson & Co., First National Bank Bldg. ♦Hutton & Company, W. E., First National Bank Bldg. Jones, Schaefer & Company, First National Bank 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. Shriver & Co., Inc., George G„ Mercantile Trust Bldg. ♦Smith, Barney & Co., Ill E. Redwood St. ♦Starkweather & Co., Keyser Bldg. Stein Bros. & Boyce, 6 S. Calvert St. Strother, Brogden & Co., 20 S. Calvert St. Trail & Middendorf, Inc., Keyser Bldg. Williams & Company, Inc., C. T„ Fidelity Bldg. EASTON ♦Williams & Company, Inc., C. T., Easton Na tional Bank Bldg. HAGERSTOWN ♦Stein Bros. & Boyce, 116 W. Washington St. ♦BRANCH OFFICE Branch of A. C. Allyn and Company, Inc., Chicago. ♦Ames & Co., Inc., A. E„ 50 Congress St. Baker & Company, Inc., B. J., 209 Washington St. Baker, Young & Company, Inc., 209 Washington St. Baldwin & Company, 30 Federal St. Ballou, Adams & Whittemore, Inc., 49 Federal St. ♦Bancamerica-Blair Corporation, 75 Federal St. ♦Bankers Trust Company, 10 Post Office Sq. ♦Blake Brothers & Company, 111 Devonshire St. ♦Blyth & Co., Inc., Ill Devonshire St. ♦Bodell & Co., 35 Congress St. Bond & Goodwin Incorporated, 30 Federal St. ♦Bridges, James W., Representative, Mackubin, Legg & Company, 24 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. Chace, Whiteside & Co., Incorporated, 25 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. ♦First Boston Corporation, The, 1 Federal St. ♦Foster & Co., Inc., 35 Congress St. ♦Goldman, Sachs & Co., 75 Federal St. ♦Graham, Parsons & Co., 10 Post Office Sq. Hale, Waters & Company, Inc., 199 Washington St. ♦Hayden, Stone & Co., 75 Federal St. ♦Hoit, Rose & Troster, 10 Post Office Sq. Hornblower & Weeks, 60 Congress St. ♦Hutton & Company, W. E., 75 Federal St. Jackson & Curtis, 10 Post Office Sq. Kennedy, Spence & Company, Inc., 25 Federal St. ♦Kidder, Peabody & Co., 115 Devonshire St. ♦Lazard Freres & Co., 75 Federal St. Learoyd & Nightingale, Incorporated, 50 Con gress 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., 35 Congress St. Newton, Abbe & Company, 60 Federal St. ♦Ohrstrom & Co., Inc., G. L., 75 Federal St. Paine, Webber & Company, 24 Federal St. Parker Corporation, The, 1 Court St. ♦Paul & Co., Inc., 50 Congress St. Perry & Co., Inc., Arthur, 31 Milk St. Preston, Moss & Company, 111 Devonshire St. Putnam & Company, Inc., F. L., 159 Devonshire St. ♦Rollins & Sons, Inc., E. H., 75 Federal St. ♦Rothschild & Co., L. F„ 30 State St. ♦Salomon Bros. & Hutzler, 75 Federal St. ♦Schoellkopf, Hutton & Pomeroy, Inc., 75 Federal St. ♦Seligman & Co., J. & W., 75 Federal St. ♦Shields & Company, 75 Federal St. ♦Smith, Barney & Co., Ill Devonshire St. Soucy, Swartswelter & Co., 161 Devonshire St. ♦Stone & Webster and Blodget, Inc., 49 Federal St. Studley, Shupert & Co., 50 Congress St. ♦Tifft Brothers, 50 Congress St. ♦Trask & Co., Spencer, 50 Congress St. Tucker, Anthony & Co., 74 State St. Tyler & 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, Incorporated, 36 Federal St. Whitney & Elwell, 30 State St. Wood Company, Arthur W„ 19 Congress St. CAMBRIDGE ♦Jackson & Curtis, Harvard Sq. LOWELL ♦Kidder, Peabody & Co., 9 Central St. LYNN ♦Jackson & Curtis, 23 Central Ave. . NEW BEDFORD ♦Kidder, Peabody & Co., First National Bldg. ♦Tucker, Anthony & Co., 555 Pleasant St. PITTSFIELD ♦Reynolds & Co., 28 North St. ♦Tifft Brothers, 100 North St. MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA SPRINGFIELD ♦Dayl& 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. ♦Whiting, Weeks & Knowles, Incorporated, Third National Bank Bldg. WORCESTER Adams, Mudge & Co., 340 Main St. ♦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, Incorporated, Slater Bldg. ♦Wood, Struthers & Co., State Mutual Bldg. MICHIGAN Michigan Group ANN ARBOR ♦Watling, Lerchen & Hayes, Ann Arbor Trust Bldg. BATTLE CREEK ♦Ross Securities Co., Thompson, City Bank Bldg. BENTON HARBOR ♦Ross Securities Co., Thompson, Fidelity Bldg. DETROIT Alison & Company, 535 Griswold St. ♦Allyn and Company, Inc., A. C., Buhl Bldg. Baker, Simonds & Co., Buhl Bldg. ♦Bancamerica-Blair Corporation, Buhl Bldg. ♦Bankers Trust Company, Buhl Bldg. ♦Blyth & Co., Inc., Buhl Bldg. ♦Braun, Bosworth & Company, Union Guardian Bldg. ♦Brown Harriman & Co., Incorporated, Penobscot Bldg. Campbell, McCarty & Company, Inc., Buhl Bldg. Carey & Co., Matthew, Union Guardian Bldg. ♦Central Republic Company, Union Guardian Bldg. Clayton and Company, Fidelity Bldg. Cray, McFawn & Petter, Fidelity Bldg. Crouse & Company, Penobscot Bldg. ♦Dominick & Dominick, 601 Griswold St. Field, McDonald & Company, Buhl Bldg. First of Michigan Corporation, Buhl Bldg. Grier & Co., Inc., John C., Buhl Bldg. Higbie Corporation, Carlton M., Buhl Bldg. ♦Hornblower & Weeks, Penobscot Bldg. ♦Hutton & Company, W. E., 600 Griswold St. 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 & Co., Penobscot Bldg. Parcells & Co., Charles A., Penobscot Bldg. Peter, Keenan & Co., Buhl Bldg. ♦Rollins & Sons, Inc., E. H., National Bank Bldg. Sattley & Company, Inc., H. V., Hammond Bldg. ♦Selected Investments Company, Penobscot Bldg. Shannon, Kenower & Company, Inc., Penobscot Bldg. Small & Co., Sidney R., Penobscot Bldg. ♦Stranahan, Harris & Company, Inc., Buhl Bldg. ♦Straus Securities Company, Union Guardian Bldg. Watkins & Fordon, Inc., Penobscot Bldg. Watling, Lerchen & Hayes, Buhl Bldg. Wedthoff & Co., Guy G., Penosbcot Bldg. ♦Weed, Hall, Berndt & Co., Ford Bldg. Whitlock, Smith & Co., Penobscot Bldg. FLINT ♦Allyn and Company, Inc., A. C., Genesee Bank Bldg. GRAND RAPIDS ♦Cray, McFawn & Petter, Michigan Trust Bldg. Kusterer & Company, A. E., Michigan Trust Bldg. ♦McDonald, Moore & Hayes, Inc., Grand Rapids Trust Bldg. ♦Paine, Webber & Co., Peoples National Bank Bldg. ♦Rollins & Sons, Inc., E. H., 60 Monroe Ave. ♦Ross Securities Co., Thompson, Grand Rapids Trust Bldg. HOLLAND ♦Cray, McFawn & Petter, 61 E. Eighth St. IRON MOUNTAIN ♦Ross Securities Co., Thompson, U. S. National Bank Bldg. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JACKSON ♦Dominick & Dominick, 120 W. Michigan Ave. KALAMAZOO ♦Cray, McFawn & Petter, American National Bank Bldg. ♦Ross Securities Co., Thompson, American National Bank Bldg. 1665 MISSOURI KANSAS CITY Southwestern Group Minnesota Group Alexander, McArthur & Company, 922 Baltimore Ave. •Allyn and Company, Inc., A. C., 1012 Baltimore Ave. Baum Bernheimer Company, 1016 Baltimore Ave. ♦Blyth & Co., Inc., Commerce Bldg. ♦Brown-Crummer Investment Company, The. 21 W. Tenth St. Callender, Burke & MacDonald, Fidelity Bldg. ♦Childs and Company, Inc., C. F., 15 W. Tenth St. City National Bank and Trust Company, 18th & Grand Ave. Commerce Trust Company, Tenth & Walnut Sts. Folsom, Wheeler & Co., 928 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. DULUTH Northern National Bank of Duluth, 304 W. Superior St. ♦Paine, Webber & Co., Medical Arts Bldg. ♦Wells-Dickey Co., Alworth Bldg. Southwestern Group LANSING ♦Hutton & Company, W. E„ 121 W. Michigan Ave. MARQUETTE ♦Ross Securities Co., Thompson, Harlow Block. MUSKEGON ♦Ross Securities Co., Thompson, Hackley Union National Bank Bldg. MINNESOTA MINNEAPOLIS Allison-Williams Company, Northwestern Bank Bldg. Ashmun Co., C. S„ First National-Soo Line Bldg. ♦Bancamerica-Blair Corporation, Rand Tower Bigelow, Webb & Co., Incorporated, First National-Soo Line Bldg. Bishop & Co., M. H., Frontenac Bldg. ♦Blyth & Co., Inc., Rand Tower ♦Brown Harriman & Co., Incorporated, North western Bank Bldg. ♦Byllesby and Company, H. M., Rand Tower ♦Central Republic Company, Rand Tower Dain & Company, J. M., Rand Tower 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. ♦Mannheimer-Caldwell, Inc., Northwestern Bank 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 & Co., Rand Tower Piper, Jaffray & Hopwood, 115 S. Seventh St. ♦Rollins & Sons, Inc., E. H., Northwestern Bank Bldg. ♦Salomon Bros. & Hutzler, Rand Tower ♦Seerley & Company, Inc., John J., Roanoke Bldg. ♦Smith, Barney & Co., Northwestern Bank Bldg. Thrall West Company, Northwestern Bank Bldg. Wells-Dickey Co., Metropolitan Bank Bldg. Wittenberg Merrick Company, Northwestern Bank Bldg. ♦Wood & Company, Harold E., Northwestern Bank Bldg. Woodard-Elwood & Company, Rand Tower ST. PAUL ♦Bigelow, Webb & Co., Incorporated, First National Bldg. ♦Brown-Crummer Investment Company, The, First National Bldg. ♦Central Republic Company, First National Bldg. First National Bank of Saint Paul, Fourth & Minnesota Sts. Gates & Co., Stanley, 345 Robert St. Greenman & Cook, Inc., First National Bldg. Kalman & Company, 143 E. Fourth St. Mannheimer-Caldwell, Inc., First National Bldg. ♦Paine, Webber & Co., Pioneer Bldg. ♦Riter & Co., Pioneer Bldg. ♦Wells-Dickey Co., Endicott Bldg. Williams Co., E. C„ Pioneer Bldg. Wood & Company, Harold E.,FirstNational Bldg. ST. JOSEPH 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. Brainman-Schmidt-Busch, Inc., Boatmen’s Bank Bldg. ♦Brown Harriman & Co., Incorporated, 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 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. ♦Murdoch, Dearth & White, Inc., 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 Ruppert & Company, H. L., 400 Pine St. ♦Seerley & Company, Inc., John J., Boatmen’s Bank Bldg. Simon & Co., I. M„ 315 N. Fourth St. Smith, Barney & Co., 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. Walker & Co., G. H., 503 Locust St. Whitaker & Company, N. E. Cor. Fourth & Olive Sts. WINONA ♦Mannheimer-Caldwell, Inc., Exchange Bldg. NEBRASKA MISSISSIPPI Central States Group Southern Group JACKSON ♦Scharff & Jones, Inc., Lamar Life Bldg. Speed Company, Leland, Deposit Guaranty Bank Bldg. LINCOLN ♦Burns, Potter & Company, Stuart Bldg. First Trust Company of Lincoln, The, Tenth & O Sts. ♦Greenway-Raynor Co., Sharp Bldg. ♦Wachob-Bender Corporation, Insurance Bldg. VICKSBURG First National Bank & Trust Company of Vicks burg, Washington St. OMAHA ♦Allyn and Company, Inc., A. C„ Insurance Bldg. ♦BRANCH OFFICE 1666 MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA OMAHA—Continued ♦Brown-Crammer Investment Company, The, Insurance Bldg. Burns, Potter & Company, 202 S. Seventeenth St. ♦Byllesby and Company, H. M., Farnam Bldg. ♦Central Republic Company, Insurance Bldg. Greenway-Raynor Co., First National Bank Bldg. Hall and Company, Inc., Ware, First National Bank Bldg. Klrkpatrick-Pettis-Loomis Company, Omaha National Bldg. National Company of Omaha, The, First National Bank Bldg. ♦Stern Brothers & Company, Insurance Bldg. Wachob-Bender Corporation, 212 S. Seventeenth St. NEW HAMPSHIRE New England Group CONCORD ♦Paine, Webber & Co., 3 Capitol St. MANCHESTER ♦Rollins & Sons, Inc., E. H., Amoskeag Bank Bldg. NEW JERSEY New York Group ASBURY PARK ♦McDonnell & Co., Berkeley Carteret Hotel EAST ORANGE ♦Reynolds & Co., 22 Prospect St. JERSEY CITY Bullock, Calvin, 921 Bergen Ave. ♦Distributors Group, Incorporated, 1 Exchange PI. ♦Lord, Abbett & Co., Inc., 1 Exchange PI. ♦Massachusetts Distributors, Inc., 15 Exchange Pi. ♦Nickerson & Co.. Inc., John, 15 Exchange PI. Reybarn Company, Inc., The., 15 Exchange Pi. MORRISTOWN ♦Reynolds & Co., Park Square Bldg. NEWARK ♦Clark, Dodge & Co., 744 Broad St. Colyer, Robinson & Company, Inc., 1180 Ray mond Blvd. ♦Kean, Taylor & Co., 744 Broad St. ♦Minsch, Monell & Co., Inc., 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. ♦Smith, Barney & Co., 114 W. State St. NEW YORK New York Group ALBANY 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 & Co., 90 State St. ♦Rollins & Sons, Inc., E. H., 75 State St. ♦Smith, Barney & Co., National Savings Bank Bldg. ♦Stone & Webster and Blodget, Inc., City Savings Bank Bldg. ♦Trask & Co., Spencer, State Bank Bldg. ♦Young & Company, Inc., F. J., 75 State St. BINGHAMTON ♦Bonbright & Co., George D. B., 97 Collier St. BUFFALO ♦Amott, Baker & Co., Incorporated, 298 Main St. ♦Dominion Securities Corporation, M & T Bldg. ♦First Boston Corporation, The, Liberty Bank Bldg. Manufacturers and Traders Trust Company, 284 Main St. Marine Trust Company of Buffalo, The, 237 Main St. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ♦Moseley & Co., F. S., Ellicott Square Bldg. O’Brian, Potter & Co., Liberty Bank Bldg. ♦Rollins & Sons, Inc., E. H., Erie County Savings Bank Bldg. Schoellkopf, Hutton & Pomeroy, Inc., 70 Niagara St. ♦Seligman & Co., J. & W., Liberty Bank Bldg Wood, Trubee & Co., M & T Bldg. CORTLAND ♦Glidden, Morris & Co., Savings Bank Bldg. ♦Jackson & Curtis, Keeney Theatre Bldg. ELMIRA ♦Treman & Co., Arthur B., 125 Lake St. GLENS FALLS ♦Trask & Co., Spencer, Queensbury Hotel ITHACA Treman & Co., Arthur B„ First National Bank Bldg. MIDDLETOWN ♦Craigmyle & Co., 13 King St. NEWBURGH ♦Shields & Company, 120 Grand St. NEW ROCHELLE ♦Shields & Company, 271 North Ave. NEW YORK CITY Adams & Peck, 63 Wall St. Adams, McEntee & Co., Inc., 40 Wall St. Aldred & Co., 40 Wall St. Allen & Company, II. L„ 100 Broadway ♦Allyn and Company, Inc., A. C., 40 Wall St. ♦Ames & Co., Inc., A. E., 120 Broadway (Branch of A. E. Ames & Co., Limited, Toronto) Amott, Baker & Co., Incorporated, 150 Broadway ♦Auchincloss, Parker & Redpath, 63 Wall St. ♦Babcock, Rushton & Company, 50 Broadway Bacon, Stevenson & Co., 39 Broadway Baker & Co., J. E„ 14 Wall St. Bancamerica- Blair Corporation, 44 Wall St. ♦Bank of Montreal, Agency, 64 Wall St. (Agency of Bank of Montreal, Head Office, Montreal) Bankers Trust Company, 16 Wall St. Barr Brothers & Co., Inc., 40 Wall St. ♦Battles & Company, Inc., 90 Broad St. Bear, Stearns & Co., 1 Wall St. ♦Becker & Co., Incorporated, A. G., 54 Pine St. (Branch of A. G. Becker & Co., Chicago) 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 and Company, 52 Wall St. Bonbright & Company, Incorporated, 25 Nassau St. Bond & Goodwin, Incorporated, 63 Wall St. Bristol & Willett, 115 Broadway Brown, Harriman & Co., Incorporated, 63 Wall St. ♦Bullock, Calvin, 1 Wall St. Burley & Company, 115 Broadway Burnet & Co., W. E., 11 Wall St. Burr & Company, Inc., 57 William St. ♦Byllesby and Company, H. M., Ill Broadway Callaway, Fish & Co., 15 Broad St. Campbell, Phelps & Co., Inc., 70 Pine St. Carroll & Co., John B., 70 Pine St. ♦Cassatt & Co., Incorporated, 40 Wall St. ♦Cavalier & Co., Wm., 40 Wall St. ♦Chandler & Company, Inc., 120 Broadway ♦Chaplin & Company, 52 Broadway Chase National Bank of the City of New York, 18 Pine St. Chemical Bank & Trust Company, 165 Broadway ♦Childs and Company, Inc., C. F., 1 Wall St. Childs, Jeffries & Thorndike, Inc., 50 Broadway Clark, Dodge & Co., 61 Wall St. Clarke & Co., Inc., Richard W., 50 Broadway ♦Coffin & Burr, Inc., 70 Pine St. Cohu Brothers, 24 Broad St. ♦Collin, Norton & Co., 26 Broadway Craigmyle & Co., 1 Wall St. ♦Daly and Craib, 49 Wall St. Darby & Co., Inc., 1 Wall St. ♦Day & Co., R. L„ 14 Wall St. Devine & Co., C. J., 48 Wall St. Dick & Merle-Smith, 30 Pine St. ♦Dickson & Company, R. S., 30 Broad St. Dillon, Read & Co., 28 Nassau St. Distributors Group, Incorporated, 63 Wall St. Dominick & Dominick, 115 Broadway ♦Dominion Securities Corporation, 40 Exchange PI. {Branch of The Dominion Securities Corporation Limited, Toronto) ♦Dougherty, Corkran & Co., Ill Broadway Downs & Co., Harry, 60 Wall Tower Doyle & Co., Charles E., 20 Pine St. du Pont & Co., Francis I., 1 Wall St. Eastman, Dillon & Co., 15 Broad St. Eberstadt & Co., Inc., F., 39 Broadway ♦Elder & Company, 11 Wall St. ♦BRANCH OFFICE Eldredge & Co., Inc., 40 Wall St. Emanuel & Co., 50 Pine St. ♦Equitable Securities Corporation, 40 Wall St. ♦Estabrook & Co., 40 Wall St. Evans, Stillman & Co., 14 Wall St. Ewart & Co., Incorporated, C. B., 70 Wall St. Fenner and Beane Corporation, 67 Broad St. Fenton & Company, Incorporated, 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. Fox & Company, P. F., 1 Wall St. Frazee & Co., E. P., 120 Broadway Gary & Partners, Theodore, 21 E. 40th St. Gibbons & Company, Inc., Geo. B., 49 Wall St. Glidden, Morris & Co., 72 Wail St. Glore, Forgan & Co., 38 Wall St. Goldman, Sachs & Co., 30 Pine St. Gonder, Kelley & Co., Inc., 56 Pine St. ♦Graham, Parsons & Co., 14 Wall St. Granbery, Marache & Lord, 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. ♦Harris, Hall & Co., 14 Waff St. Hatch & Co., Inc., Frederic H., 63 Wall St. Hayden, Stone & Co., 25 Broad St. Hegarty & Co., Inc., D. M. S., 120 Broadway Heinzelmann, Ripley & Co., Inc., 40 Exchange PI. Heller & Co., Inc., Herbert C., 30 Broad St. Hemphill, Noyes & Co., 15 Broad St. Hiltz & Co., 39 Broadway Hipkins & Topping, 1 Waff St. Iloit, Rose & Troster, 74 Trinity PI. Holsapple, Harvey & Co., 30 Pine St. ♦Hornblower & Weeks, 40 Wall St. ♦Hughes and Company, E. W., 1 Wall St. ♦Hutton & Company, W. E., 14 Wall St. ♦Huyck and Company, A. S., 42 Broadway Hynes & Co., Eugene J., 61 Broadway Hynson & Co., Incorporated, J. N., 14 Waff St. ♦Jackson & Curtis, 115 Broadway ♦Janney & Co., 65 Broadway Jenks, Gwynne & Co., 65 Broadway Jones & Co., Chas. H., 20 Broad St. Kean, Taylor & Co., 14 Waff St. Keys & Co., C. M., 39 Broadway Kidder & Co., A. M., 1 Waff 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 & Co., 120 Broadway. Lebenthal & Co., 135 Broadway Lee Higginson Corporation, 37 Broad St. Lehman Brothers, 1 William St. Lewisohn & Sons, Adolph, 61 Broadway ♦Lilley & Co., 44 Waff St. Lobdell & Company, 52 Wall St. Loeb & Company, Carl M., 61 Broadway Lord, Abbett & Co., Inc., 63 Waff St. ♦Mackubin, Legg & Company, 14 Wall St. ♦Manufacturers and Traders Trust Company, 1 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 ♦Mather & Company, Inc., Morris, 50 Broadway Maynard, Oakley & Lawrence, 61 Broadway ♦McCole, James A., Representative, The Anglo California National Bank of San Francisco, 2 Waff St. 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 Wall St. Merrill, Lynch & Co., 40 Wall St. Minsch, Monell & Co., Inc., 115 Broadway ♦Mitchell, Hutchins & Co., 1 Waff St. Morgan & Co., J. P., 23 Wall St. Morgan Stanley & Co., Incorporated, 2 Waff St. ♦Moseley & Co., F. S., 14 Wall St. ♦Moulton & Company, R. H., 50 Broadway Murphy & Co., G. M.-P., Ill Broadway National City Bank of New York, 55 Wall St. Neergaard, Miller & Co., 1 Waff St. Newman Bros. & Worms, 25 Broad St. New York Trust Company, The, 100 Broadway Nickerson & Co., Inc., John, 61 Broadway Novotny & Co., Inc., C. G., 30 Broad St. Ohrstrom & Co., Inc., G. L., 40 Wall St. ♦Otis & Co., 120 Broadway ♦Paine, Webber & Company, 25 Broad St. ♦Paul & Co., Inc., 52 Waff St. Phelps, Fenn & Co., 39 Broadway Pierce & Co., E. A., 40 Waff St. Pizzini & Co., B. W., 52 Broadway Pressprich & Co., R. W., 68 William St. ♦Reinholdt & Gardner, 11 Wall St. Reynolds & Co., 120 Broadway Riter & Co., 48 Wall St. Robinson, Miller & Co., Inc., 52 William St. Rogers & Company, Inc., Hartley, 14 Wall St. Rollins & Sons, Inc., E. H., 44 Wall St. Rothschild & Co., L. F„ 120 Broadway Ryan & McManus, 39 Broadway MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA NEW YORK CITY—Continued Salomon Bros. & Hutzler, 60 Wall St. Saunders, Ashplant & Company, 2 Wall St. Schaumburg, Rebhann & Lynch, 52 William St. Schlater, Noyes & Gardner, Inc., 60 Broadway ♦Schoellkopf, Hutton & Pomeroy, Inc., 63 Wall St. Scholle Brothers, 40 Wall St. Schroder Rockefeller & Co., Inc., 48 Wall St. •Schwabacher & Co., Ill Broadway Seligman & Co., J. & W„ 54 Wall St. Shields & Company, 44 Wall St. Smith, Barney & Co., 14 Wall St. Smithers & Co., F. S„ 15 Broad St. Speyer & Co., 24 Pine St. Starkweather & Co., Ill Broadway ♦Stein Bros & Boyce, 39 Broadway Stemmier & Co., 52 William St. ♦Stern and Company Incorporated, Lawrence, 40 Wall St. Stone & Webster and Blodget, Inc., 90 Broad St. ♦Stranahan, Harris & Company, Inc., 115 Broad way ♦Stroud & Company, Inc., 120 Broadway Swart & Co., Inc., R. E., 40 Exchange PI. Trask & Co., Spencer, 25 Broad St. ♦Treman & Co., Arthur B., 26 Broadway ♦Tucker, Anthony & Co., 120 Broadway Van Alstyne, Noel & Co., 52 Broadway ♦Van Deventer, Spear & Co., Inc., 61 Broadway Van Ingen & Co., Inc., B. J., 57 William St. ♦Wainwright & Co., H. C„ 14 Wall St. ♦Walker & Co., G. H„ 1 Wall St. ♦Washburn & Company, Inc., 40 Wall St. ♦Watkins, Morrow & Co., 67 Broad St. ♦Watling, Lerchen & Hayes, 120 Broadway Watson & Co., Inc., Eli, T„ 60 Wall St. Watson & White, 149 Broadway Weed, Hall, Berndt & Co., 40 Wall St. ♦Weeden & Co., 14 Wall St. ♦Weil, Roth & Irving Company, The, 74 Trinity PI. Wertheim & Co., 120 Broadway White & Company, Inc., J. G., 37 Wall St. White, Weld & Co., 40 Wall St. Williams & Co., Clark, 160 Broadway ♦Willson & Co., James C., 39 Broadway Wilmerding & Co., 120 Broadway ♦Winthrop, Mitchell & Co., 26 Broadway ♦Witter & Co., Dean, 14 Wall St. ♦Wood, Grundy & Co„ Inc., 14 Wall St. 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 Dickson & Company, R. S., Wilder Bldg. Interstate Securities Corporation, 200 S. Tryon St. Kirchofer & Arnold, Inc., Johnston Bldg. ♦Scott, Horner & Mason, Inc., Johnston Bldg. DURHAM ♦Courts & Co., 212 N. Corcoran St. GREENSBORO Burnett and Company, Inc., Oscar, Security Bank Bldg. ♦Elder & Company, Security Bank Bldg. ♦Equitable Securities Corporation, Jefferson Bldg. Lewis and Hall, Inc., Jefferson Bldg. RALEIGH ♦Dickson & Company, R. S„ Security Bank Bldg. Kirchofer & Arnold, Inc., Capital Club Bldg. WILSON Branch Banking & Trust Co., 124 Nash St. WINSTON-SALEM ♦Smith, Barney & Co., First National Bank Bldg. Wachovia Bank & Trust Company, Third & Main Sts. OHIO AKRON Northern Ohio Group ♦Harriman & Keech, 106 S. Main St. ♦Jackson & Curtis, Ohio Bldg. ♦Mitchell, Herrick & Co., Akron Savings & Loan Bldg. ♦Murfey, Blossom & Co., First Central Trust Bldg. ♦Nelson, Browning & Company, First Central Tower ♦Otis & Co., First Central Trust Bldg. CANTON Northern Ohio Group NORWICH ♦Wood, Trubee & Co., 20 S. Broad St. ♦Mitchell, Herrick & Co., Citizens Bldg. CINCINNATI Ohio Valley Group POUGHKEEPSIE ♦Eastman, Dillon & Co., 39 Market St. ROCHESTER Bonbright & Co., George D. B., Powers Bldg. Feistel, Cobb & Co., Inc., Powers Bldg. Houck & Company, Inc., Albert A., LincolnAlliance Bldg. ♦Lee Higginson Corporation, 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, 39 State St. ♦Stone & Webster and Blodget, Inc., Reynolds Ar cade Bldg. •Tucker, Anthony & Co., 16 Main St., E. ♦Wood, Trubee & Co., Lincoln-Alliance Bldg. ROME ♦Wood, Trubee & Co., 168 Dominick St. SCHENECTADY ♦Trask & Co., Spencer, 212 State St. SYRACUSE ♦Bancamerica-Blair Corporation, State Tower Bldg. ♦Brown Harriman & Co., Incorporated, Onondaga Bldg. •Lee Higginson Corporation, 206 Highland St. ♦Pressprich & Co., R. W., State Tower Bldg. •Seligman & Co., J. & W„ State Tower Bldg. UTICA ♦Clarke & Company. H. Vaughan, Mayro Bldg. •Treman & Co., Arthur B„ First National Bank Bldg. WATERTOWN ♦Treman & Co., Arthur B., Ill Stone St. 88 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Assel, Goetz & Moerlein, Inc., Provident Bldg. Aub & Co., A. E., 49 E. Fourth St. Ballinger & Co.. Union Trust Bldg. ♦BancOhio Securities Company, Union Trust Bldg. ♦Blyth & Co., Inc., Union Central Life Bldg. ♦Braun, Bosworth & Company, Union Central Bldg. Breed & Harrison, Inc., First National Bldg. Brockhaus & Co., Edward, Union Trust Bldg. ♦Brown Harriman & Co., Incorporated, Union Central Life Bldg. Central Trust Company, The, Fourth & Vine Sts. ♦Childs and Company, Inc., C. F., 105 W. Fourth St. Clancey & Co., W. P., First National Bldg. ♦Devine & Co., Inc., C. J., First National Bank Bldg. ♦Dominick & Dominick, 414 Walnut St. Field, Richards & Shepard, Inc., Union Central Bldg. Fifth Third Union Trust Co., The, Fourth & Walnut Sts. 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 & Company, Dixie Terminal Bldg. ♦Otis & Co., Mercantile Library Bldg. Provident Savings Bank & Trust Company, Seventh & Vine Sts. Seasongood & Mayer, 6 E. Fourth St. ♦Stone & Webster and Blodget, Inc., Union Central Bldg. ♦Stranahan, Harris & Company, Inc., Dixie Terminal Bldg. Van Lahr, Doll & Isphording, Inc., Provident Bank Bldg. Walter, Woody & Heimerdinger, 49 E. Fourth St. Weil, Roth & Irving Company, The, 49 E. Fourth St. CLEVELAND Northern Ohio 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., Incorporated, Union Trust Bldg. ♦Bullock, Calvin, Williamson Bldg. Central National Bank, 308 Euclid Ave. ♦Central Republic Company, Union Trust Bldg. •Childs and Company, Inc., C. F., Union Trust Bldg. ♦BRANCH OFFICE 1667 Cleveland Trust Company, The, 916 Euclid Ave. Curtiss, House & Company, Union Trust Bldg. Emerson & Co., Incorporated, H. 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. 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. Murfey, Blossom & Co., Guardian Bldg. National City Bank of Cleveland, The, E. Sixth St. at Euclid Ave. ♦Nelson, Browning & Company, Union Trust Bldg. Otis & Co., 216 Superior Ave., N. E. m ♦Paine, Webber & Company, Terminal Tower Bldg. ♦Rollins & Sons, Inc., E. H., Union Trust Bldg. ♦Salomon Bros. & Hutzler, Union Trust Bldg. Saunders, Stiver & Co., Terminal Tower Bldg. ♦Smith, Barney & Co., Union Trust Bldg. ♦Soucy, Swartswelter & Co., Central National Bank Bldg. ♦Stifel, Nicolaus & Co., Inc., Cuyahoga Bldg. ♦Stranahan Harris & Company, Inc., Hippodrome Bldg. ♦Wood, Struthers & Co., Terminal Tower Bldg. COLUMBUS Ohio Valley Group ♦Ball, Coons & Company, 16 E. Broad St. BancOhio Securities Company, 51 N. High St. ♦First Cleveland Corporation, The, A. I. U. Bldg. ♦Mitchell, Herrick & Co., Citizens Bank Bldg. ♦Otis & Co., Huntington National Bank Bldg. ♦Paine, Webber & Company, 50 E. Broad St. Sweney, Inc., Lowry, 17 S. High St. DAYTON Ohio Valley Group ♦Dominick & Dominick, 42 N. Main St. Feight-Yager & Co., Inc., Gas & Electric Bldg. ♦Hutton & Company, W. E., Winters Bank Bldg. ♦Joseph & Co., Inc., Winters Bank Bldg. ♦McDonald-Coolidge & Co., Winters Bank Bldg. ♦Nelson, Browning & Company, Third National Bldg. SPRINGFIELD Ohio Valley Group ♦Mitchell, Herrick & Co., First National Bldg. TOLEDO Northern Ohio Group Brann, Bosworth & Company, Second National Bldg. Collin, Norton & Co., 508 Madison Ave. ♦First Cleveland Corporation, The, Home Bank Bldg. ♦Mitchell, Herrick & Co., Second National Bldg. ♦Otis & Co., Security Bldg. Prudden & Company, Inc., Ohio Bldg. Ryan, Sutherland & Co., Ohio Bldg. Stranahan, Harris & Company, Inc., Ohio Bldg. YOUNGSTOWN ♦Soucy, Swartswelter & Co., Union National Bank Bldg. OKLAHOMA Southwestern Group OKLAHOMA CITY ♦Brown-Crummer Investment Company, The, First National Bldg. Edwards, Inc., R. J., Hales Bldg. First National Bank and Trust Company, First National Bldg. Honnold, C. Edgar, 120 N. Robinson St. Taylor-Stuart Co., American Natl. Bldg. TULSA ♦Francis, Bro. & Co., Kennedy Bldg. OREGON Pacific Northwest Group PORTLAND Adams & Co., E. M„ American 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. 1668 MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA PORTLAN D—Continued. •Ferris & Hardgrove, American Bank Bldg. First National Bank of Portland, Fifth & Stark Sts. Hemphill. Fenton & Campbell, Inc., Porter Bldg. Jaxtheimer & Company, 310 S. W. Sixth St. ♦Rollins & Sons, Inc., E. H., U. S. National Bank Bldg. Warrens, Bosch & Floan, Porter Bldg. ♦Witter & Co., Dean, 425 S. W. Sixth Ave. Wright & Co., Marshall, Porter Bldg. PENNSYLVANIA ALLENTOWN Eastern Pennsylvania Group ♦Reynolds & Co., Americus Hotel Bldg. ♦Smith, Barney & Co., Dime Trust Bldg. BETHLEHEM Eastern Pennsylvania Group ♦Elkins, Morris & Co., Odd Fellows Bldg. ♦Rollins & Sons, Inc., E. H., Odd Fellows Bldg. ♦Smith, Barney & Co., 446 Main St. EASTON Eastern Pennsylvania Group ♦Lord, Abbett & Co., Inc., First National Bank Bldg. ♦Smith, Barney & Co., 7 Center Sq. 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 & Company, Land Title Bldg. ♦Lazard Freres & Co., Girard Trust Company Bldg. Lilley & Co., Packard Bldg. McMillan, Rapp & Company, 1420 Walnut St. Morgan & Co., Reed A., 16 S. Broad St. ♦Murphy & Co., G. M.-P., 123 S. Broad St. Newbold’s Son & Co., W. H., 1517 Locust St. ♦Ohrstrom & Co., Inc., G. L„ 1500 Walnut St. ♦Paine, Webber & Company, Packard Bldg. Parsly Bros. & Co., Inc., 1500 Walnut St. Paul & Co., Inc., 1420 Walnut St. 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, 1421 Chestnut St. ♦Smith, Barney & Co., 1411 Chestnut St. ♦Starkweather & Co., Girard Trust Company Bldg. ♦Stone & Webster and Blodget, Inc., Packard Bldg. Stroud & Company, Inc., 1429 Walnut St. Suplee, Yeatman & Company, Inc., 220 S. Six teenth St. Swain & Company, Inc., Land Title Bldg. Thayer, Baker & Co., 16 S. Broad St. Tyson Company, Warren A., 1528 Walnut St. ♦Van Alstyne, Noel & Co., 1500 Walnut St. ♦Watson & Co., Inc., Eli T„ 1616 Walnut St. Wurts, Dulles & Co., 1416 Chestnut St. Yarnall & Co., 1528 Walnut St. •Young & Company, Inc., F. J., 1616 Walnut St. SCRANTON Eastern Pennsylvania Group ♦Cassatt & Co., Incorporated, First National Bldg ♦Green, Ellis & Anderson, 506 Spruce St. ♦Hallgarten & Co., First National Bldg. ♦Moseley & Co., F. S„ First National Bldg. ♦Reynolds & Co., 516 Spruce St. ♦Rollins & Sons, Inc., E. H„ Firtst National Bldg. ♦Smith, Barney & Co., First National Bldg. SHARON Western Pennsylvania Group ♦Grubbs, Scott & Company, First National Bank Bldg. SUNBURY Drass & Co., J. H., 231 Market St. WILKES-BARRE Eastern Pennsylvania Group ♦Auchincloss, Parker & Redpath, Miners National Bank Bldg. ♦Green, Ellis & Anderson, Miners National Bank Bldg. ♦Lord, Abbett & Co., Inc., Miners Bank Bldg. ♦Rollins & Sons, Inc., E. H., Second National Bank Bldg. ♦Swain & Company, Inc., Brooks Bldg. WILLIAMSPORT Eastern Pennsylvania Group PITTSBURGH ♦Rollins & Sons, Inc., E. H., Lycoming Trust Bldg. Western Pennsylvania Group ERIE ♦Shields & Company, Erie Trust Bldg. HARRISBURG Eastern Pennsylvania Group •Hemphill, Noyes & Co., Penn Harris Hotel •Jones & Co., Chas. H„ State Theatre Bldg. •Rollins & Sons, Inc., E. H., State Theatre Bldg. LANCASTER Eastern Pennsylvania Group ♦Clark & Co., E. W„ Fulton National Bldg. PHILADELPHIA Eastern Pennsylvania Group •Adams & Peck, 1500 Walnut St. ♦Allyn and Company, Inc., A. C„ Packard Bldg. ♦Amott, Baker & Co., Incorporated, 1528 Walnut St. •Auchincloss, Parker & Redpath, 1421 Chestnut St. ♦Bancamerica-Blair Corporation, 225 S. Fifteenth St. ♦Bankers Trust Company, Packard Bldg. Barclay, Moore & Co., 123 S. Broad St. Battles & Company, Inc., 1518 Locust St. Biddle, Whelen & Co., 1606 Walnut St. Bioren & Co., 1508 Walnut St. ♦Blyth & Co., Inc., 1500 Walnut St. ♦Brown Harriman & Co., Incorporated, 1529 Walnut St. ♦Bullock, Calvin, 1416 Chestnut St. Butcher & Sherrerd, Broad & Chestnut Sts. ♦Byllesby and Company, H. M., Stock Exchange Bldg. Cassatt & Co., Incorporated, South Penn Sq. Chandler & Company, Inc., 1500 Walnut St. Clark & Co., E. W„ 1531 Locust St., Clarke & Company, H. Vaughan, 15th & Locust Sts. Codings and Company, C. C., 123 S. Broad St. ♦Devine & Co., Inc., C. J., Fidelity-Philadelphia Trust Bldg. ♦Dominion Securities Corporation 220 S. Sixteenth St. Dougherty, Corkran & Co., 1421 Chestnut St. Drexel & Co., 15th & Walnut Sts. *du Pont & Co., Francis I., 123 S. Broad St. ♦Eastman, Dillon & Co., 1506 Walnut St. Elkins, Morris & Cb., Land Title Bldg. ♦First Boston Corporation, The, 1616 Walnut St. ♦Foster & Co., Inc., Packard Bldg. Freeman & Co., Inc., M. M., Packard Bldg. ♦Goldman, Sachs & Co., 1416 Chestnut St. Graham, Parsons & Co., 1422 Walnut St. ♦Granbery, Marache & Lord, 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ♦Allyn & Co., Inc., A. C., Union Trust Bldg. Applegate, Geo. G., Commonwealth Bldg. Bear & Company, S. Lee, Union Trust Bldg. ♦Blyth & Co.. Inc., Union Trust Bldg. ♦Brown Harriman & Co., Incorporated, Union Trust Bldg. ♦Byllesby and Company, H. M., Union Trust Bldg. ♦Cassatt & Co., Incorporated, Union Trust Bldg. Chaplin & Company, 419 Wood St. ♦Childs and Company, Inc., C. F., 439 Fifth Ave. Cunningham & Co., Inc., S. K., Commonwealth Bldg. ♦Dominick & Dominick, 316 Fourth Ave. ♦Emanuel & Co., Gulf Bldg. Farmers Deposit National Bank, Fifth Ave. & Wood St. ♦First Boston Corporation, The, Farmers Bank Bldg. First National Bank at Pittsburgg, Fifth Ave. & Wood St. Glover & MacGregor, Inc., Union Trust Bldg. ♦Graham, Parsons & Co., Union Trust Bldg. ♦Granbery, Marache & Lord, 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 Trust Bldg. ♦Loeb & Company, Carl M., 541 Grant St. ♦Macdonald, R. H., Representative Mackubin, Legg & Company, 5837 Aylesboro Ave. Masten & Company, A. E., First National Bank Bldg. McJunkin, Patton & Company, Commonwealth Bldg. Mellon Securities Corporation, 525 William Penn PI. Moore, Leonard & Lynch, Union Trust Bldg. ♦Moseley & Co., F. S., First National Bank Bldg. ♦Otis & Co., Union Trust Bldg. Peoples-Pittsburgh Trust Company, Fourth Ave. and Wood St. ♦Rollins & Sons, Inc., E. H., Grant Bldg. Scott & Company, James H., Union Trust Bldg. Singer, Deane & Scribner, Union Trust Bldg. ♦Smith, Barney & Co., Gulf Bldg. ♦Swart & Co., Inc., R. E., Union Trust Bldg. Union Trust Company of Pittsburgh, The, Union Trust Bldg. Ward & Co., Norman, Grant Bldg. Young & Co., Inc., People Bank Bldg. YORK Eastern Pennsylvania Group ♦Clark & Co., E. W., 22 S. George St. ♦Stein Bros. & Boyce, 31 Market St. RHODE ISLAND PROVIDENCE ♦Blyth & Co., Inc., Ill Westminster St. Bodell & Co., 32 Custom House St. ♦Brown Harriman & Co., Incorporated, Hospital Trust Bldg. ♦Estabrook & Co., 15 Westminster St. ♦First Boston Corporation, The, Hospital Trust Bldg. ♦Harriman & Keech, 15 Westminster St. ♦Hornblower & Weeks, 10 Weybosset St. ♦Jackson & Curtis, Hospital Trust Bldg. ♦Kidder, Peabody & Co., 10 Weybosset St. MacColl, Fraser & Wheeler, Hospital Trust Bldg. Miller & George, Hospital Trust Bldg. ♦Murphy & Co., G. M.-P., Hospital Trust Bldg. ♦Paine, Webber & Company, Hospital Trust Bldg. ♦Perry & Co., Inc., Arthur, Hospital Trust Bldg. ♦Putnam & Company, Inc., F. L„ Hospital Trust Bldg. ♦Rollins & Sons, Inc., E. H., Turks Head Bldg. ♦Stone & Webster and Blodget, Inc., Turks Head Bldg. ♦Whiting, Weeks & Knowles, Incorporated, Hospital Trust Bldg. SOUTH CAROLINA Southern Group CHARLESTON Frost, Read & Co., Inc., 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. POTTS VILLE Eastern Pennsylvania Group ♦Clark & Co., E. W., Schuylkill Bldg. ♦Rollins & Sons, Inc., E. H„ Schuylkill Bldg. SPARTANBURG Law & Company, A. M., Andrews Bldg. READING Eastern Pennsylvania Group TENNESSEE ♦Brown Harriman & Co., Incorporated, 24 N. Fifth St. ♦Clark & Co., E. W„ 515 Penn St. ♦Eastman, Dillon & Co., Berkshire Hotel Bldg. ♦Graham, Parsons & Co., 605 Washington St. ♦Rollins & Sons, Inc., E. H., Berks County Trust Bldg. CHATTANOOGA ♦BRANCH OFFICE Southern Group Elder & Company, 735 Broad St. ♦Equitable Securities Corporation, Bldg. Provident MEMBERSHIP OF THE INVESTMENT BANKERS ASSOCIATION OF AMERICA KNOXVILLE VIRGINIA Southern Group Southeastern Group *Bass & Company, Jack M., Hamilton Bank Bldg. ♦Cumberland Securities Corporation, Hamilton Bank Bldg. ♦Elder & Company, Fidelity Bank Bldg. ♦Equitable Securities Corporation, Hamilton Bank Bldg. MEMPHIS 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. ♦Elder & Company, Nashville Trust Bldg. Equitable Securities Corporation, 404 Union St. Nashville Securities Corporation, Fourth Ave. at Union St. Nunn, Shwab & Co., Nashville Trust Bldg. Robinson, Webster & Gibson, Stahlman Bldg. TEXAS Texas Group DALLAS Beckett, Gilbert & Company, Inc., First National Bank Bldg. ♦Brown-Crummer Investment Company, The, Kirby Bldg. Callihan & Jackson. Republic Bank Bldg. Dallas Union Trust Company, Dallas National Bank 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 National Bank Bldg. Miller, Moore &Brown, Inc., RepublicBank Bldg. O’Neil & Company, Donald. Republic Bank Bldg. Rauscher, Pierce & Co., Inc., Magnolia Bldg. Walker, Austin & Waggener, Republic Bank Bldg. EDINBURG ♦Ranson-Davidson Investment Company, The, American Bank Bldg. FORT WORTH ♦Dallas Union Trust Company, Fort Worth National Bank Bldg. Edwards & Company, William N„ First National Bank Bldg. GALVESTON Mosle and Moreland, Anico Bldg. HOUSTON Aves and Wymer, Inc., San Jacinto National Bank Bldg. ♦Brown-Crummer Investment Company, Second National Bank Bldg. Dillingham & McClung, Inc., First National Bank Bldg. Duquette & Co., Second National Bank Bldg. ♦Fenner and Beane Corporation, Gulf Bldg. Gregory-Eddleman Company, First National Bank Bldg. ♦Mahan, Dittmar & Company, Second National Bank Bldg. Neuhaus & Co., Union National Bldg. ♦Rauscher, Pierce & Co., Inc., Second National Bank Bldg. Rotan Co.. George V., Esperson Bldg. Snyder and Company, A. W., San Jacinto Na tional Bank Bldg. Underwood & Co., Milton R., Gulf Bldg. White & Co., Chas. B., Second Natl. Bk. Bldg. SAN ANTONIO ♦Brown-Crummer Investment Company, The, Smith Young Tower Dewar, Robertson & Pancoast, National Bank of Commerce Bldg. Ewing Co., Inc., W. K„ 130 W. Commerce St. Fitch & Co., W. P., Alamo National Bank Bldg. Mahan, Dittmar & Company, South Texas Bank Bldg. ♦Ranson-Davidson Investment Company, The, Milam 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., Burlington Trust Bldg. 8 8-A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CHARLOTTESVILLE Peoples National Bank, The, Main St. ♦Smith, Barney & Co., Second & Market Sts. LYNCHBURG Scott, Horner & Mason, Inc., Law Bldg. NORFOLK Investment Corporation of Norfolk, 215 E. Plume St. RICHMOND Davenport & Co.. 1113 E. Main St. ♦Dickson & Company, R. S., Morris Plan Bank Bldg. Mason-Hagan, Inc., 916 E. Main St. Richmond Corporation, The, 726 E. Main St. Scott & Stringfellow, Mutual Bldg. WASHINGTON Pacific Northwest Group ABERDEEN ♦Ferris & Hardgrove, 113 Wishkah St. BELLINGHAM ♦Ferris & Hardgrove, 1216 Cornwall Ave. SEATTLE ♦Blyth & Co., Inc., 1411 Fourth Ave. Bramhall & Stein, Hoge Bldg. ♦Conrad, Bruce & Co., 1411 Fourth Ave. Drumheller, Ehrlichman & White, Exchange Bldg. Ferris & Hardgrove, Exchange Bldg. Grande, Stolle & Co., Hoge Bldg. Harper & Son & Company, Wm. P., Hoge Bldg. Hemphill Inc., Waldo, 1411 Fourth Ave. 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. ♦Rogers & Company, Hartley (of Washington), 1411 Fourth Ave. (Branch of Hartley Rogers & Company, Inc., Los Angeles) Seattle-First National Bank, Second Ave. & Columbia St. Seattle Trust and Savings Bank, 804 Second Ave. ♦Witter & Co., Dean, Cobb Bldg. SPOKANE ♦Blyth & Co., Inc., Old National Bldg. ♦Ferris & Hardgrove, 425 Riverside Ave. Murphey, Favre & Co., Spokane and EasternBldg. Nelson and Company, Arthur E., Paulsen Bldg. Paine-Rice & Company, Old National Bldg. Richards & Blum, Inc., 101 N. Wall St. Spokane and Eastern Branch of Seattle-First National Bank, 601 Riverside Ave. Stolle, Baker & Co., Inc., Old National Bldg. TACOMA ♦Conrad, Bruce & Co., Washington Bldg. ♦Ferris & Hardgrove, W. R. Rust Bldg. ♦Witter & Co., Dean, Washington Bldg. WALLA WALLA ♦Ferris & Hardgrove, Marcus Whitman Bldg. YAKIMA ♦Ferris & Hardgrove, A. E. Larson Bldg. 1669 OSHKOSH ♦Securities Company of Milwaukee Inc., The, First National Bank Bldg. ♦Shields & Company, First National Bank Bldg. RACINE ♦Shields & Company, Arcade 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, 744 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., Bank of Nova Scotia Bldg. ♦Wood, Gundy & Company Limited, Victory Bldg. ONTARIO Canadian Group HAMILTON ♦McLeod, Young, Weir & Co., Ltd., Spectator Bldg. ♦Mills, Spence & Co., Ltd., Sun Life Bldg. ♦Wood, Gundy & Company Limited, 1 Main St., E. LONDON ♦McLeod, Young, Weir & Co., Ltd., Richmond Bldg. Midland Securities Corporation Limited, Huron & Erie Bldg. OTTAWA ♦Ames & Co., Limited, A. E., 140 Wellington St. ♦Greenshields & Company, Inc., 140 Wellington St. ♦Hanson Bros. Incorporated, 56 Sparks St. ♦McLeod, Young, Weir & Co., Ltd., Ottawa Electric Bldg. ♦Wood, Gundy & Company Limited, Victoria Bldg. TORONTO Ames & Co., Limited, A. E., 320 Bay St. Bartlett, Cayley and Company Limited, 320 Bay St. Bell, Gouinlock & Co., Ltd., 25 King St., W. ♦Collier, Norris & Henderson, Limited, 320 Bay St. Dominion Securities Corporation Limited, 15 King St., W. Gairdner & Company Limited, 320 Bay St. ♦Greenshields & Company, Inc., 64 King St., W. ♦Hanson Bros, Incorporated, 330 Bay St. ♦Jenks, Gwynne & Co., 320 Bay St. McLeod, Young, Weir & Co., Ltd., Metropolitan Bldg. ♦Midland Securities Corp., Ltd., Dominion Bank Bldg. Mills, Spence & Co., Ltd., 25 King St., W. Wood, Gundy & Company Limited, 36 King St., QUEBEC WEST VIRGINIA Southeastern Group WHEELING ♦Masten & Company, A. E., Central Union Bldg. 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, WISCONSIN Central States Group ♦Bullock, Ltd., Calvin, Aldred Bldg. (Branch of Calvin Bullock, Jersey City) MADISON ♦Securities Company of Milwaukee Inc., The, First Central Bldg. ♦Shields & Company, First Central Bldg. Collier, Norris & Henderson, Limited, Aldre Bldg. ♦Dominick Corporation of Canada, 360 St. Jam( St., W. MILWAUKEE ♦Allyn and Company, Inc., A. C„ 735 No. Water St. 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. ♦Harris, Hall & Company, 735 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. ♦Shields & Company, 735 N. Water St. ♦Straus Securities Company, 710 N. Water St. ♦Dominion Securities Corporation Limited, 275 St. James St., W. ♦Gairdner & Company Limited, 360 St. James St., ♦BRANCH OFFICE (Branch of Dominick & Dominick, New York) Greenshields & Company, Inc., 507 Place d’ Armes Hanson Bros. Incorporated, 255 St. James St., W. ♦Jenks, Gwynne & Co., 388 St. James St., W. ♦McLeod, Young, Weir & Co., Ltd., 231 St. James St., W. ♦Mills, Spence & Co., Ltd., 507 Place d’Armes Royal Bank of Canada, The, 360 St. James St., W. ♦Wood, Gundy & Company, Limited, 360 St. James St., W. QUEBEC ♦Greenshields & Company, Inc., Price House SHERBROOKE ♦Greenshields & Company, Inc., Sun Life Bldg. STOCK EXCHANGE MEMBERS 1670 CALIFORNIA LOS ANGELES STOCK EXCHANGE 618 So. Spring St. OFFICERS: McClarty Harbison, President; Norman A. Tulk, 1st Vice-President; S. H. Ellis, Jr., 2nd Vice-President; Harry B. Brooks, Treasurer; W. Q. Paul, Exec. Secretary; James W. Elliott, Managing Secretary; Inez Vermillion, AssistantlSecretary MINIMUM COMMISSION RATES Effective January 3, 1938 SCHEDULE “I” The following minimum rates shall apply on all stocks other than Mining Stocks and/or stocks competitive with the New York Stock Exchange and/ or the New York Curb Exchange. Preferred Customer’s Rates Rates Board Board Lots Lots per 100 Odd Lots PffQg per 100 Odd Lots shares shares $ .25 Pro Rata Under 10c___________________ & -50 Pro Ruta .50 Pro Rata .25_$ 1.00 Pro Rata .10 and under $ At $ 1.00 Pro Rata .50_ 2.00 Pro Rata .25 and under AtJ 2.00 Pro Rata .75_ 3.00 Pro Rata .50 and under At 3.00 Pro Rata 1.00_ 4.00 Pro Rata .75 and under At 5.00 Pro Rata 2.00..-. 7.00 13c a share 1.00 and under At 6.00 Pro Rata 3.00_ 8.00 13c a share 2.00 and under At 7.00 Pro Rata 4 00_ 9.00 13c a share 3.00 and under At 8.00 Pro Rata 5.00_10.00 13c a share 4.00 and under At 9.00 Pro Rata 6 00 -- 12.00 20c a share 5.00 and under At 10.00 Pro Rata 7 00 . _ 13.00 20c a share 6.00 and under At 11.00 Pro Rata 8 00 --. 14.00 20c a share 7 00 and under At 12.00 Pro Rata 9.00 -.15.00 20c a share 8.00 and under At 13.00 Pro Rata 9.00 and under 10 00 ... 16.00 20c a share At 14.00 Pro Rata 20 00 -19.00 25c a share 10.00 and under At 15.00 Pro Rata 30 00 20.00 25c a share At 20.00 and under 40 16.00 Pro Rata 00 .. 21.00 25c a share 30.00 and under At 17.00 Pro Rata At 40.00 and under 50 00 . 22.00 25c a share 18.00 Pro Rata 60 00 . 23.00 30c a share 50.00 and under At 19.00 Pro Rata At 60.00 and under 70 00 .. 24.00 30c a share 20.00 Pro Rata 80 00 .-25.00 30c a share 70.00 and under At 21.00 Pro Rata 26.00 30c a share At 80.00 and under 90 00 -- 27.00 22.00 Pro Rata 30c a share At 90.00 and under 100 00 23.00 Pro Rata 110 00. . 28.00 30c a share At 100.00 and under 120 24.00 Pro Rata 00 _ 29.00 30c a share 110.00 and under At 25.00 Pro Rata 00 -.- 30.00 30c a share At 120.00 and under 130 26.00 Pro Rata 140.00___31.00 Pro Rata 130.00 and under At Customers and preferred board lot schedules shall be increased *1.00 for each $10.00 increase in price at 140 and above and odd lot rates shall be pro rata thereof. Minimum Commissions On stocks selling under $1.00 customers minimum, $2.50; preferred minimum, $1.75. On stocks selling at $1.00 and over customers minimum, $5.00; preferred minimum, $3.75. On transactions in which the money involved is less than $10.00 the com mission charge shall be optional On transactions at $10.00 and over but under $50.00 the minimum com mission to customers shall be $2.50 and to those entitled to the preferred schedule $1.75, Application of Preferred Schedule (A) Members may transact business at the rates prescribed in the preferred schedule when such transactions are for the account of members of the San Francisco Stock or Curb Exchanges. (B) Members may transact business at the rates prescribed in the preferred schedule when such transactions are in securities traded on the New York Stock or Curb Exchanges and/or the San Francisco Stock or Curb Exchanges and are for the account of: (1) Members of the New York Stock Exchange or other Exchanges specifically approved by the Governing Board. (2) Those organizations specifically approved in Section 8, Chapter VII of the Governing Board Rules. (3) Approved banks. Competitive Stocks Transactions in securities traded on the New York Stock or Curb Ex changes shall carry the Pacific Coast customers or preferred rates for such transactions when such rates.are at variance herewith, except as to minimum charges. MEMBERS Marache, Paul J. & Co., 650 S. Spring St. Adams-Chadwick Co., 650 S. Spring St. Adams, Thomas E. & Co., 650 S. Spring St. Akin-Lambert Co., 639 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. Mitchum, Tully & Co., 650 S. Spring St. Bacon & Co., 256 Montgomery St., San Francisco. Bankamerica Co., 650 S. Spring St. Banks, Huntley & Co., 634 S. Spring St. GRANT, D. G. COMPANY, Room 415, 453 S. Spring St. Morlan, Malcolm F., 215 W. 7th St. Morris & Co., A. W., 325 W. 8th St. Barbour, Smith & Company, 634 S. Spring St. Barnes, MacDonald 8c Company, 210 W. 7th St. Bateman, Eichler & Co., 453 S. Spring St. Battson & Co., 621 S. Spring St. Blvd., Bayly Brothers, Inc. of California, 727 West 7th St. Bennett, Richards & Hill, 621 S. Spring St. Brashears, G. & Co., 510 S. Spring St. California Seaboard Corporation, 634 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., 650 S. Spring St. Crisler, L. A. & Co., 639 S. Spring St. Crowell, Weedon & Co., 650 S. Spring St. Dobbs-Crowe & Company, 626 S. Spring St. Dunk-Harbison Co., 634 S. Spring St. Edgerton, Riley & Walter, 621 S. Spring St. Mason Brothers, 650 S. Spring St. Graves, Banning & Co., 629 S. Spring St. ♦Greenwood & Co., 6253 Hollywood Hollywood. Gregory, R. N. & Co., 210 W. 7th St. Miller & Co., Revel, 650 S. Spring St. ♦Newland, E. H. & Co., 639 S. Spring St. Harris, F. E. & Co., 650 S. Spring St. Hay. Earl G., 650 S. Spring St. Hill, D. A., & Co., 215 W. 7th St. ♦Hogle, J. A., & Co., 532 W. 6th St. Hopkins, Hughey & Anderson, 609 S. Grand Ave. Hurry, Hilgers, Co., 530 W. 6th St. Hutton, E. F. & Co., 623 S. Spring St. 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. Rogers & Co., Inc., Hartley, 210 W. 7th St. Rutland, Edwards & Co., Inc., 609 So. Grand Ave. Schabarum, Frank A., 650 S. Spring St. Searl-Merrick Company, 634 S. Spring St. Sinclair, Dunlop & Co., 210 W. 7th St. STAATS, WM. R. CO., 640 South Spring St. Kerr, J. D. & Co., 629 S. Spring St. ♦Knight, Jno. 0., 2177 W. 24th St. Sutro & Company, 210 W. 7th 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. Wade & Co., R. C., 650 S. Spring St. Thomas-Seidel & Co., 458 S. Spring St. Walker, M. S„ & Co., 125 E. First St., Long Beach. White, Wyeth & Co., 647 S. Spring St. Wilke, Fred L„ 530 W. Sixth St. MacLaughlin, Leo G., Co., 54 S. Los Robles Ave., Pasadena. Woll & Co., 325 W. 8th 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 1671 SAN FRANCISCO STOCK EXCHANGE (Board Room: 155 Sansome St.) Officers: Wm. R. Bacon, President; Douglas G. Atkinson, Vice,-President; Ruth Kapelsky, Secretary. The Anglo California National Bank, San Francisco, Treasurer. MINIMUM RATES OF COMMISSION on Stocks, Rights and Warrants (Hereinafter Referred to as Stocks) In Effect February 1, 1938 On Stocks Selling Per Odd L*ts Minimum Price Per Share 100 Shares Per Share Charge Under 10c ___ ... ___$ .50 ♦Pro Rata $2.50 At $ .10 but under $ .25..- ___ 1.00 ♦Pro Rata 2.50 At .25 but under ,50_-_ ___ 2.00 ♦Pro Rata 2.50 At .50 but under .75-.- ___ 3.00 ♦Pro Rata 2.50 At .75 but under 1.00--. ___ 4.00 ♦Pro Rata 2.50 At 1.00 but under 2.00._ ___ 7.00 13c 2.50 At 2.00 but under 3.00-. ___ 8.00 13c 2.50 At 3.00 but under 4.00-_- ___ 9.00 13c 2.50 At 4.00 but under 5.00-,- ___10.00 13c 2.50 At 5.00 but under 6.00- ___ 12.00 20c 2.50 At 6.00 but under 7.00- _ ___ 13.00 20c 2.50 At 7.00 but under 8.00__ ___ 14.00 20c 2.50 At 8.00 blit under 9.00__ ___ 15.00 20c 2.50 At 9.00 but under 10.00- ___ 16.00 20c 2.50 At 10.00 but under 20.00-- ___ 19.00 25c 2.50 At 20.00 but under 3000--. ___20.00 25c 2.50 At 30.00 but under 40.00--. ___ 21.00 25c 2.50 At 40.00 but under 50.00_-_ ___22.00 25c 2.50 At 50.00 but under 60.00--. ___ 23.00 30c 3.00 At 60.00 but under 70.00__ ___24.00 30c 3.00 At 70.00 but under 80.00- ___ 25.00 30c 3.00 At 80.00 but under 90.00_____ 26.00 30c 3.00 At 90.00 but under 100.00- ___ 27.00 30c 3.00 At 100.00 but under 1 10.00._ ___ 28.00 30c 3.00 At 110.00 and over the commission, per 100 shares, shall be increased $1.00 for each $10.00 increase in selling price. THE ODD LOT RATE on stocks selling: At $110.00 but under $130.00 per share, shall be 30c per share. At $130.00 per share and above, shall be a pro rata of the round lot rate. NOTES: (1) 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. *(2) On any individual transaction in stocks, rights and warrants, where the total amount of money involved is $10.00 or more and less than $50.00, the minimum charge shall be $2.50 for each transaction. When the total amount involved is less than $10.00, the minimum charge may be discretion ary with the member. 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). On all shipments of securities for customers (or incident to customers’ pur chases or sales), whether eastbound or westbound, insurance and postage shall be charged to all customers at the following rates: 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. MEMBERS AND MEMBER FIRMS Adams, W. W., 465 California St. Adams, W. W. & Co., 465 California St. Alanson, Bertram E., 486 California St. Alanson Bros. & Co., 486 California St. ♦American Brokerage, Inc., 460 Montgomery St. Atkinson, Douglas G., 50 Post St. Bacon & Co., 256 Montgomery St. Bacon, Wm. R„ 256 Montgomery St. Baerwaid, Ernst., Suite 12, Mills Bldg. ♦Bankamerica Company, 485 California Street Barth, J. & Co., 482 California St. Berl, Edwin D., 256 Montgomery St. Bolton, Robert C., & Co., 486 California St. Brayton, Harold, 50 Post St. Brown, Austin, 45 Montgomery St. Buchanan & Co., H. H., 15 E. Santa Clara St., San Jose, Calif, and 50 Post St., San Francisco. Cavalier, Wm. & Co., 121 Sutter St. Clayburgh, Herbert E., 482 California St. Coleman, Jr., Robert L., 133 Montgomery St. Curran, Hooker & Fay, 155 Sansome St. Davies & Co., 300 Standard Oil Bldg. Davis, Skaggs & Co., 211 Montgomery St. Dickey & Co., 216 Montgomery St. Dickey, Wm. Duvall, 216 Montgomery St. Douglass, Earl S., 317 Montgomery St. Duncan, Calvin E. & Co., 519 California St. Dunn, Frank M„ 232 Montgomery St. Dwyer, Frank M., 155 Sansome St. Dwyer & Parrish, 155 Sansome St. Eastland & Co., 1 Montgomery St. Ede, Jr., William, 569 Russ Bldg. Ehrman, Albert L„ 519 California St. Ehrman, Jr., Alexis L., 133 Montgomery St. ♦Elworthy & Co., Ill Sutter St. Epstein, Gustav, 482 California St. Fay, Jr., Charles W„ 155 Sansome St. Fisher & Co., 351 Montgomery St. Frankenheimer, B. J„ 111 Sutter St. Greene, Howard J„ 407 Montgomery St. Greenwood, G. M., 1501 Russ Bldg. Greenwood-Raggio & Co., 1501 Russ Bldg. Grimes, Thornton E., 490 California St. Grimes & Swift, 490 California St. Heintz, Geo. A., 351 Montgomery St. Heilman, R. H„ 517 California St. Hellmann-Lewin & Co., 517 California St. Hendrickson, Alfred D., 155 Sansome St. Hendrickson, Shuman & Co., 155 Sansome St. Heron, Donald, 604 Kohl Bldg. Hoelscher, Sherman, 265 Montgomery St. Holt & Ede, 569 Russ Bldg. Hooker, John R., 155 Sansome St. Howell, Douglass & Co., 317 Montgomery St. Howell, James B„ 317 Montgomery St. Jacobsen, Rudolph E„ 486 California St. Jenkins, Reginald C., 225 Montgomery St. Johnson, Cyrus B„ 155 Sansome St. Johnson, Frederic H„ 1543 Russ Bldg. Kahn, Sidney P., 482 California St. Keyston & Co., 50 Post St. Keyston F. B. Co., 50 Post St. Keyston, George N., 50 Post St. Koshland, Max I. & Co., Suite 12, Mills Bldg. Leib, O'Connor & Co., 3014 Russ Bldg. Lilienthal, M. P., 1204 Russ Bldg. Lilienthal, M. P., & Co., 1204 Russ Bldg. Lundborg, Irving & Co., 604 Kohl Bldg. Mack, Jr., Harold L., 3014 Russ Bldg. Maxwell, Victor T., 1 Montgomery St. McDonnell & Co., 633 Market St. McNear & Company, 362 Russ Bldg. McNear, Edward H., 362 Russ Bldg. Meigs, J. J., Box 123, Garber villa. Miller, G. Willard, 45 Montgomery St. Newell, Coons & Co., 232 Montgomery St. Norris, L. H. & Sor, 1272 Russ Bldg. Norris, Lucius G., 1272 Russ Bldg. Park, Howard G., 155 Sansome St. Parrish, Earl T., 155 Sansome St. Pierce, E. A. & Co., 301 Montgomery St. Platt, Robert R., 300 Standard Oil Bldg. Pringle, Edward O., 1 Montgomery St. Purrington, Elwin E., 50 Post St. Raiss, Carl & Co., 256 Montgomery St. Raiss, Carl, 256 Montgomery St. Ridley, Robert M., 633 Market St. Schwartz, Sidney L., 407 Montgomery St. Shaughnessy, Frank C. & Co., 604 One Elevea Sutter Bldg. Shaughnessy, Frank C., 604 One Eleven Sutter Bldg. Shaw, Hooker & Co., 1 Montgomery St. Shuman, W. D. M., 155 Sansome St. Simon, Richard O., 482 California St. Skaggs, C. W., 211 Montgomery St. ♦WM. R. STAATS CO., 155 Montgomery St. Stern & Co., John D., Ill Sutter St. Strassburger & Co., 133 Montgomery St. Sutro, Adolph G., 1000 Point Lobos Ave. Sutro & Co., 407 Montgomery St. Wade & Co., Suite 610, Russ Bldg. Wade, Jr., M. C., Suite 610, Russ Bldg. Walston & Co., 265 Montgomery St. Watson, R. B., 50 Post St. Wheeler, Rollo C., 1243 Russ Bldg. Wight, C. R., 519 California St. Willard, Robert H„ 121 Sutter St. Wilson, Francis A., 1112 Russ Bldg. Witter, Dean & Co., 45 Montgomery St. Woods, Wm. W„ 301 Montgomery St. (Associate Member*) Further inform*tion on firms 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 STOCK EXCHANGE MEMBERS 1672 COLORADO COLORADO SPRINGS STOCK EXCHANGE President—Horace M. Ragle, Mining Exchange Bldg. Secretary—C. M. Balkam, 418 Mining Exchange Bldg. (P. O. Box 196) KATES OF COMMISSION Adopted December 31, 1925 Under lc per share..................................................... $ .50 per 1,000 shares At lc and under 2c per share_______ .75 per 1,000shares At 2c and under 6c per share_________________ 1.25 per 1,000shares At 5c and under 10c per share________________ 2.00 per 1,000shares At 10c and under 20c pershare_______________ 3.00 per 1,000shares At 20c and under 30c pershare_______________ 4.00 per 1,000shares At 30c and under 40c pershare_______________ 5.00 per 1,000shares At 40c and under 50c pershare_______________ 6.00 per 1,000shares At 60c and under 75c pershare___ ____________ 7.60 per 1,000shares At 75c and under $1.00 per share........ ................... 10.00 per 1,000 shares 100shares At $1.00 and under $2.00 per share......................... 2.00 per At $2.00 and under $3.00 per share____________ 4.00 per 100shares At $3.00 and under $5 00 per share____________ 5.50 per 100shares 100shares At $6.00 and under $10.00 per share....................... 7.50 per •At $10.00 and under $25.00 per share.............. 15.00 per 100shares At $26.00 and over per share_________________ 25.00 per 100shares (Minimum commission shall not be less than $1.00 on an Individual transaction.) •Golden Cycle Corp.—20c per share. ON BONDS (Effective July 17,1*34) $1.50 per $100 bond—for total par values of $100 to $500 inclusive. $3.00 per single bond of $1,000 par value. $2.50 for each bond In even multiples of $1,000 par value. BOARD-LOTS 5,000 shares In stocks selling at less than 2c per share. 1,000 shares In stocks selling at 2c and less than 50c per share. 500 shares in stocks selling at 50c and less than $2.00 per share, except the shares of the Holly Development, Holly Oil, Table Mesa Oil in which 100 shares constitute a board-lot. 100 shares In stocks selling at $2.00 and less than $10.00 per share. 10 shares In stocks selling at $10.00 and over per share. Daily quotations are for board-lots only MEMBERS Balkam, C. M., 338 First Nat’l Bk. Bldg. Carlton, L. G., Golden Cycle Bldg. Gray, William, Mining Exchange Bldg. Hopkins, 0. 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., 930 Equitable Bldg., Denver. 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; George C. Carroll, Vice-President; Fred W. Miller, Treasurer; Ralph M. Davis, Secretary RATES OF COMMISSION Units of Trading (Board Lots) SCALE OF COMMISSIONS Stocks selling under 5c 5% on money $2.50 per thousand shares 10c 5c and under *• at 50c He ‘ share 10c .. $1.00 $2.50 ‘ hundred shares 50c .. <• •• $2.50 $3.00 . $1.00 .. $5.00 $5.00 $2.50 •• .. .. $10.00 $7.50 . $5.00 .. •• “ $25.00 $12.50 • $10.00 •• .. $25.00 . $25.00 “ over Minimum commission is as follows: On orders amounting to $60.00 or less, $1.50; on stocks selling under $10.00 per share, $2.50; on stocks selling at $10.00 and above, $3.50. No State Tax required on transactions on the Denver Stock Exchange. Transfer charge added. . .. .. .. .. .. The unit of trading (board lots) shall be as follows: Stocks selling at 1 cent per share or under—5,000 shares. Stocks selling above 1 cent per share and under 10 cents per share—1,000 shares. Stocks selling at 10 cents per share and under 50 cents per share—500 shares. Stocks selling at 50 cents per share and under $3.00 per share—100 shares. Stocks selling at $3.00 per share and under $10.00 per share—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. Currie, Trevor, 437 U. S. National Bank Bldg. Foreman & Co., 213 California Bldg. W. R. Given & Co., Suite 804 Interstate Trust Bldg. Ralph G. McFann & Co., 431 U. S. Nat’l Bank Bldg. Meyer-Martin & Co., Suite 931 U.S.Nat’l Bank Bldg. Miller & Co., F. W., C. A. Johnson Bldg. 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 the selected list of Investment Dealers following bank list la each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1673 DISTRICT OF COLUMBIA WASHINGTON STOCK EXCHANGE 632 Washington Bldg. STOCKS Under 50c a share...................................................................l%c. per share At 50c a share and above, but under $1................................ 3c. pershare At $1 a share and above, but under $5.......................... 5c. pershare At $5 a share and above, but under $10.......................... 10c. pershare At $10 a share and above, but under $50..............................15c. pershare At $50 a share and above, but under $100................... 25c. pershare At $100 a share and above, but under $150..........................50c. pershare At $150 a share and above, but under $200......................... 75c. pershare COMMISSION CHARGES At $200 a shareand above, but under $300........................$1.00 per share At $300 a share and above, but under $500................... $1.50 per share (Effective March 16, 1936) At $500 a shareand above..____ ___________________ $2.00 per share Commissions on Rights shall be the same as those fixed for stocks. BONDS Fractional shares: Less than % share...................................................... 26c. each transaction Government____ ________ ________________________ 12%c. per $100 % share and over............. .............. ...........................50c. each transaction All other bonds.......... ........................... ..................... ..........25c. per $ 100 Minimum charge of $3.00 on any single transaction (Stocks or Bonds), except fractional shares. MEMBERS Hall, Frank M., Southern Bldg. Auchincloss, Parker & Redpath, 719 15th St., McKnew, Fairfax & Company, Inc.. 719 15th N. W. Hall, Peters and Bryson, Southern Bldg., 15th St., N. W. Booker, Yelverton E., American Security Bldg. & H. Sts. N. W. Nees, Bernard J., Southern Bldg. Booker, Y. E., & Company, American Security Harriman & Keech, 815 15th St. N. W. Nolan, James P., American Security Bldg. Bldg. Hendrick, J. Thilman, Hibbs Bldg. O’Donnell, James, 15th and Eye Sts., N. W. Brawner Jno. F„ c/o Waggaman, Brawner & Co., Hillyer, Edward L., c/o Union Tr. Co., 15th & H Olds, Jr., Edson B., American Security Bldg. Inc., 1700 Eye St.. N. W. Sts., N. W. Parker, Jr., Chauncey G„ 719 15th St., N. W. Brown, Goodwyn and Olds, American Security Hoffman, John M„ 719—15th St., N. W. Patterson, Harold C., 719 15th St., N. W. Bldg. Jacobsen, Charles, 613 15th St., N. W. Perry, J. Carl, Hibbs Bldg. Casilear, R. A., Falls Church, Va. Johnson, O. H. P„ 613 15th St.. N. W. Quail, Myles H„ American Security Bldg. Cramer, Geo. F„ 1700 Eye St., N. W. Johnston, James M., Southern Bldg. Robinson, T. Baker, 1508 H St., N. W. Elgin, James C., Hibbs Bldg. Johnston, Lemon, & Company, Southern Bldg., Rodler, P. P„ Hibbs Bldg. English, Merton A., Washington Bldg. 15th & H Sts., N. W. Spaid, W. W„ Hibbs Bldg. Erwin, Henry P„ Hibbs Bldg., 725 15th St. N. W. Jones, Robert C., Shoreham Bldg., 15th & H Sts., Thoron, Benjamin, 2900 N. St., N. W. Exnicios, Marshall O., Shoreham Bldg. N. W. Waggaman, Brawner & Co., Inc., 1700 Eye St., Ferris George M„ Washington Bldg., 15th & Jones & Co., Inc., Robert C., Shoreham Bldg. N. W. New York Ave., N. W. Legg, Jr., John C„ Woodward Bldg. Wales, Kenneth S„ 815 15th St. Ferris & Co., Inc., George M„ Washington Bldg. Lemon, James H., Southern Bldg. Wales & Company, Inc., K. S„ 815 15th St., N. W. Flather, H. H„ 725 Hibbs Bldg. Mackall, Jr., William W., Woodward Bldg. Watson, George A., 815 15th St., N. W. Folger, Nolan & Co., Inc., American Security Westheimer, Milton F„ Woodward Bldg. Bldg. Garrett, George A., 815 15th St., N. W. Westheimer & Company, Woodward Bldg., 15th Gockeler, C. J„ 619 14th St., N. W. MACKUBIN, LEGG & CO., Woodward Bide. and H Sts., N. W. Golden, Theodore T.. American Security Bldg. 15th & H Sts., N. W. Wilkins, John F.t 1700 Massachusetts Ave., N. W Washington Stock Exchange Officers: James M. Johnston, Pres. W. W. Spaid.F. P. William W. Mackall, Jr., Sec. George M. Ferris, TV. HAWAII HONOLULU STOCK EXCHANGE Officers: Joe Andrade, President; G. H. Kellerman, Vice-President; Geo. E. Parker, Executive Secretary; Hawaiian Tr. Co., Ltd., Treasurer. BATES OF COMMISSION Adopted by HONOLULU STOCK EXCHANGE Effective February 1, 1938 On stock bought or sold locally—listed or not listed. .00-$ .09 Stocks selling at $ $.005 per share Stocks selling at $ 40.00-$49%............. ......................... $30 per share .10.49 Stocks selling at . .010 per share Stocks selling at 50,00- 59%_________ .35 pershare .50.99 Stocks selling at . .015 per share Stocks selling at 60.00- 69%____ 35 pershare 1.00- 1%___ Stocks selling at . . 02 per share Stocks selling at 70.00- 79%................ .40 pershare Stocks selling at 2.00- 2%_. . . 04 per share Stocks selling at 80.00- 89%___ .40 pershare Stocks selling at 3.00- 3%.. . .06 per share Stocks selling at 90.00- 99%.......................... .40 pershare 4.00- 4%__ Stocks selling at . . 08 per share Stocks selling at 100.00 and above...___________ % of 1% per share 5.00- 5%__ Stocks selling at . . 10 per share MINIMUM AND SMALL TRANSACTION CHARGE 6.00- 6%__ Stocks selling at . .12 per share Stocks selling at 7.00- 7%__ . . 14 per share When the amount involved in the transaction is less than $5.00 the Stocks selling at 8.00- 8%__ . .16 per share commission shall be as mutually agreed. When the amount is $5.00 9.00- 9%._ Stocks selling at . . 18 per share or more but less than $10.00, the minimum commission shall be $1.00. Stocks selling at 10.00- 14%_. . . 20 per share When the amount involved is $10.00 or more but less than $50.00, the Stocks selling at 15.00- 19%.. . . 22 per share minimum commission shall be $2.00. Otherwise, the minimum com Stocks selling at 20.00- 24%__ . . 24 per share mission on stocks, rites and warrants shall be $3.00 on each individual Stocks selling at 25.00- 29%.. . .26 per share transaction. Stocks selling at 30.00- 39%.. . . 28 per share Rites and warrants take the same rates as stocks. MEMBERS Andrade, Joe, 89 Merchant St. Hawaiian Trust Co., Ltd., 120 S. King St. Union Trust Co., Ltd., 1025 Alakea St. Bishop Trust Co., Ltd., 1415 King St. Bldg. Love, W. A., P. O. Box 578. Walker, Samuel A., 828 Fort St. Campbell, A. J., 79 Merchant St. Cooke Trust Co., Ltd., 920 Fort St. Rice, Jr., A. H„ 227 S. King 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; Sidney L. Parry, 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; Walter R. Hawes, Assistant Secretary and Floor Manaaer RATES OF COMMISSION Commissions: Selling at l per cent or above but under 10 per cent of face value of Section 1. Commissions shall be charged and paid under all circum principal— stances, upon all purchases or sales of securities dealt in upon the Exchange Not less than 37%c per $1,000 face value of principal. (except as provided in Subdivision [h], Section 2 of this Article) and shall Selling at 10 per cent of face value of principal and above— be absolutely net and free from all or any rebatement, return, discount or Not less than 75c per $1,000 face value of principal. allowance in any shape or manner whatsoever, or by any method or arrange (a3) On business for members of the Exchange when a principal la ment direct or indirect; and no bonus or any percentage or portion of the not given up, the commission shall be not less than the following: commission shall be given, paid or allowed, directly or indirectly, or as a Selling at less than 1 per cent of face value of principal— salary or portion of a salary, to any clerk or person for business sought or As may be mutually agreed upon. procured for any member of the Exchange. Selling at 1 per cent or above but under 10 per cent of face value of principal— Sec. 2. Commissions shall be calculated on the basis hereinafter specified: Not less than 62%c per $1,000 face value of principal. (a) On railroad, public utility and industrial bonds, having more than Selling at 10 per cent of face value of principal and above— five years to run: Not less than $1.25 per $1,000 face value of principal. (al) On business for parties not members of the Exchange, Including Joint account transactions In which a nonmember is interested; transactions (b) On securities of the United States, Porto Rico and the Philippine for partners not members of the Exchange; and for firms of which the Islands, and of states, territories and municipalities therein, on business Exchange member or members are special partners only, the commission for members of the Exchange as well as nonmembers, the restrictions as to shall be not less than the following: minimum commissions contained in this article shall not be applicable, but the rates to be charged shall be such as may be mutually agreed upon. Selling at less than 1 per cent of face value of principal— (c) On Stocks: As may be mutually agreed upon. Selling at 1 per cent or above but under 10 per cent of face value of (cl) On business for parties not members of the Exchange, including principal— Joint account transactions in which a non-member is interested; transac Not less than $1.25 per $1,000 face value of principal. tions for partners not members of the Exchange; and for firms of which the Selling at 10 per cent of face value of principal and above— Exchange member or members are special partners only, the commission Not less than $2.50 per $1,000 face value of principal. shall be not less than the following: (a2) On business for members of the Exchange when a principal On stocks selling below $10 per share, but not less than $1 per share, given up, the commission shall be not less than the following: 7%c per share. Selling at less than 1 per cent of face value of principal— On stocks selling at $10 per share and above, but under $25 per share, As may be mutually agreed UDon. 12%c per share. 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 1674 CHICAGO STOCK EXCHANGE—Continued BATES OF COMMISSION—Continued stocks selling below $10.00 per share but no less than $1.00 per share; On stocks selling at $25 per share and above, but under $50 per share, Provided, that where any transaction involves less than $15.00, the com 15c per share. mission to be charged may be mutually agreed upon, and Provided Further, On stocks selling at $50 per share and above, but under $75 per share, that there shall be no minimum commission fixed upon transactions in odd 17 Me per share. lots executed by members for and on behalf of odd lot dealers who have On stocks selling at $75 per share and above, but under $100 per share, been approved as such by the Exchange, but the commissions to be charged 20c per share. to odd lot dealers upon the execution of transactions in odd lots shall be On stocks selling at $100 per share and above, but under $200 per share, calculated in accordance with Section 2 of this Article, without any minimum. 25c per share. On stocks selling at $200 per share and over, 25c per share for the first Sec. 4. Members suspended by the Governing Committee shall not, $200 in price and 5c per share additional for each $50 increase in price, or during the time of suspension, be entitled to have their business transacted fraction thereof. at members’ rates. The minimum commission on an individual transaction in stock shall be A member who is in suspension by reason of insolvency, may have his not less than as provided in subdivision (hi of Section 2, and Section 3 of business transacted at members’ rates. this article. The commission rate to non-members on stocks which, pursu Sec. 5. No agreement or arrangement shall be entered into between a ant to call or otherwise, are to be redeemed within twelve months shall, at member of his firm, and his or their customer, whereby special and unusual the option of the member, be not less than one-half of the current rate rates of interest are stipulated for, or money advances upon unusual terms prescribed for non-members on stocks selling at the same price. are made a condition in connection with the conducting of an account, with (c2) On business for members of the Exchange when a principal is given intent thereby to give special or unusual advantages to such customer for up, the commission shall be not less than the following: the purpose of securing his business. On stocks selling below $10 per share but not less than $1 per share, ljic per share. Sec. 6. No payment shall be made to customers of the proceeds from the On stocks selling at $10 per share and above, but under $125 per share, sale of securities on the day of the sale and before the money is received by 2Mc per share. , the broker, unless interest is charged. When securities purchased for a On stocks selling at $125 per share and over, 3c per share, except that customer are not paid for by him on the day they are received and paid the minimum commission shall be not less than as provided in Section 3 for by the broker, interest must be charged from that date to the date of of this Article. payment. Where a material or more than nominal loss is sustained, either (c3) On business for members of the Exchange when a principal is not through bank exchange charges or interest, the same must be charged to given up, the commission shall be not less than the following: the customer, On stocks selling below $10 per share but not less than $1 per share, Sec. 7. Any member violating this Article, directly or indirectly, of l%c per share. ^ ^ x . „„„ which the Governing Committee shall be the judge, shall, upon conviction, Oh stocks selling at $10 per share and above, but under $125 per share, for the first offense, be fined five hundred dollars, and shall be suspended 3J<c per share. for a period of not less than three months; and for the second offense shall On stocks selling at $125 per share and over, 5c per share, provided, be expelled, and his membership disposed of by the Committee on Admis however, that the minimum commissions on individual transactions shall be sions. not less than as provided in Section 3 of this Article. OPTIONAL MINIMUM COMMISSION (d) In transactions where orders are received from a non-member, where Sec. 8. Notwithstanding any of the foregoing provisions, a member may in the broker filling the order is directed to give up another broker or clearing at his option charge a non-member for executing orders in securities listed house, the responsibility of collecting the full commission, as specified in both on this Exchange and the New York Stock Exchange either the minimum Subdivisions (al), (b) and (cl), hereof, shall rest with the broker or clearing commission rates hereinbefore prescribed or the minimum commission rates prescribed by the New York Stock Exchange. house settling the transaction. (e) In transactions where orders are received from a member, on which COMMISSIONS ON BIGHTS AND STOCK the clearing firm is given up by said member or by his order, the responsibility Reference is made to the By-Laws, Article XYI, Section 2, paragraph (h). of collecting the full commission, as specified in Subdivisions (a3), (b) and The Committee on Commissions, with the approval of the Governing (c3), hereof, shall rest with said clearing firm; and it shall be the duty of the Committee, hereby rules that until further notice the commissions on sub broker who executes such orders to report such transactions to the clearing scription rights accruing on one share of stock and upon stock selling for firm and render to them and collect his bill therefor at the rate specified in than $1.00 per share shall be not less than the following: less Subdivisions (a2), (b) and (c2), hereof; and also that where a broker executes Under 50c per right or share of stock: an order for a member and clears the security himself, he must charge the May be mutually agreed upon. rates specified in Subdivisions (a3), (b) and (c3), hereof. 50c per right or share of stock, but under $1.00: (f) Whenever a nonmember of this Exchange shall cause to be executed To non-members, not less than 3c; minimum 50c. in any market outside of the United States any order or orders, for the To members, give-ups, not less than Me. purchase or sale of securities listed on this Exchange, (except as provided in To members, clearance, not less than %e. Subdivision [h] hereof), and said purchase or sale shall be accepted by a $1.00 per right and above, but under $5.00: member or firm who are members of this Exchange, for the account of said To non-members, not less than 5c; minimum $1.00. non-members, the commission as specified in Subdivisions (al), (b) and (cl), To members, give-ups, not less than Me. hereof, shall be charged said nonmember in addition to any commission To members, clearance, not less than IMe. charged by the party or parties making the transaction. $5.00 per right and above, but under $10.00: (g) When securities are reeeived or delivered on a privilege for a non To non-members, not less than 7Mc; minimum $1.00. member, the commission as specified in Subdivisions (al), (b) and (cl), To members, give-ups, not less than lMc. hereof, must be charged whether said securities are received or delivered To members, clearance, not less than l^c. upon the day of expiration of said privilege or prior thereto. $10.00 per right and above: (h) On Subscription Rights, Stocks selling for less than $1 per share; The rates shall conform to the rates on stocks of the same price; provided Bonds or Notes of Foreign Countries having five years or less to run; Notes that the minimum on one transaction to non-members shall be $2.00. of Corporations having five years or less to run; Bonds having five years or The above rates to be effective as of December 30, 1930, and to continue less to run; such rates to members or non-members as may be mutually in force until further notice. agreed upon; provided, however, that the Committee on Commissions, with Compensation: The payment of any commission or bonus for the the approval of the Governing Committee, may hereafter determine special adjustment of salaries is held a violation of Article XVI, Section 1 of the rates on any or all of the above mentioned securities. By-Laws. Any plans for additional or adjusting compensation should be (i) When a member merely receives and delivers securities for another submitted to the Committee on Commissions for its approval. member, the clearing charge for said service may be a matter of mutual Discretionary Accounts: Customers’ men and all other employees are agreement, and the restrictions as to minimum commissions contained in prohibited from handling discretionary accounts. Discretionary power in this Article shall not be applicable. Such clearing charges shall be based the handling of an account may be vested only in partners. A partner upon a stipulated sum of money for each one hundred shares of stock or one may delegate such discretionary power to a customers’ man to a reasonable thousand dollars of bonds received or delivered. The payment for said extent, provided the consent of the customer in writing is first obtained. service of a certain sum of money for any period of time, irrespective of Such delegation of discretionary power by a partner to a customers’ maD the number of shares or amount of bonds cleared, is forbidden. does not relieve the partner of responsibility for improper transactions. Bee. 3. The minimum commission on transactions in stocks for non members (except in stocks selling for less than $1.00 per share) shall CHARGES FOB THE SERVICE OF CLEARING (a) Where the transaction involves $200.00 or more, be not less than Reference is made to the By-Laws, Article XVI, Section 2 (i). An agreement between members whereby the charge for the service of (b^’ Where the transaction involves less than $200.00 but $15.00 or clearing a member’s transaction in stocks is less than $1.25 per hundred shares, shall be deemed to be an act not in accordance with just and equi more, be not less than $3.00; and table principles of trade and business, and the offending member shall be (c) Where the transaction involves less than $15.00, be as may be subject to such penalty as may be inflicted by the Governing Committee mutually agreed upon. . . , , . „ . as it may deem proper according to the gravity of the offense, as specified Upon transactions between members, the minimum commission shall be in Article XII, Section 11, of the Constitution. $1.00 upon stocks selling at $10.00 and above per share, and 50c upon Abbott, Proctor & Paine, 208 S. La Salle St. Aldrich, Frederick C., 120 S. LaSalle St. Anderson, Robert B., 1335 E. 52nd St. Andrew, L. A., Jr. & Co., 134 S. La Salle St. Annan, David H„ 141 W. Jackson Blvd. Apgar, Daniels & Co., 120 S. LaSalle St. Archer, W. K. & Co., 926 Baltimore Ave., Kansas 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, BUSHTON & CO., 135 S. LaSalle St. BACHE, J. S. & CO., 316 S. LaSalle St. Bacon & Co., 256 Montgomery St., San Francisco, Calif. BACON, WHIPPLE & CO., 135 S. LaSalle St. Badenoch, David A., 327 S. La Salle St. Baker, Alfred L. & Co.. Ill S. LaSalle St. Ballard, Seymour, (Estate of), 120 S. LaSalle St. Baur, Willis S„ 316 S. LaSalle St., Board of Trade Bldg. MEMBERS Becker. Paul M., 231 S. LaSalle St. Bennett, James E. & Co., 332 S. LaSalle St. Benson, George B„ 135 S. LaSalle St. Benz, George W., 300 Shubert Bldg., St. Paul, Minn. Benz, Herbert G., 300 Shubert Bldg., St. Paul, Minn. Bidgood. Clyde H., 105 W. Adams St. Blesch, Joseph G., 1546 Sherwin Ave. Bloomingston, Jno. A., 160 N. LaSalle St. Blum, Harry H., 630 S. Michigan Ave. Blumenthal & Ward, 120 S. LaSalle St. Bodman, Harold C., Villa Diana Fiesole, Florence, Italy. Boorman, Earl D., 120 S. LaSalle St. Boyce, W. Graham, Jr., Hill & Summit Rds., High land Park, Ill. Bridgen, Clarence J., 209 S. LaSalle St. Bright, Elmer H., & Co., 84 State St., Boston, Mass. Brockhaus, Philip W., 208 S. LaSalle St. BROWN BROTHERS HARRIMAN & CO., 135 S. LaSalle St. Brown, Douglas, E., 231 S. LaSalle St. Brown. J. Dorsey. 4306 Greenway. Baltimore. Md. Brown, Joseph P., 120 S. LaSalle St. Brown, Sherman J., 209 Kresge Bldg., Rich mond, Ind. Bryan, Benj. B„ Jr., 999 Sheridan Road, Lake Forest. Ill. Buhler, Walter J., 120 S. LaSalle St. Burdick, John R., Jr., 208 S LaSalle St. Burel, Robert L., 7th Floor, Manhattan Bank Bldg., Memphis, Tenn. 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., 134 S. LaSalle St. Clayton, Gilbert M., 332 S. LaSalle St. Cleary & Co., 120 S. LaSalle St. Cleland, Karsner, 105 S. LaSalle St. Clement, Austin A., 231 S. LaSalle St. Clement. Curtis & Co., 231 8. LaSalle St. Clucas, E. W.. & Co., 70 Pine St., New York, N. Y. Coleman, Clarence L„ 25 S. Market St. Collins, Timothy A.. 231 S. LaSalle St. Cook, Charles K., 40 Wall St., New York. Cotton, Earl H., 141 W. Jackson Blvd. Farther Information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list In each city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1675 STOCK EXCHANGE MEMBERS CHICAGO STOCK EXCHANGE—Continued MEMBERS—Continued Coultry, Gilbert H., 120 S. LaSalle St. Craigie, James, 120 S. LaSalle St. Creitz, Lee M„ 231 S. LaSalle St. Curran, Peter A., 105 S. LaSalle St. Currier, Jefferson D., 208 S. LaSalle St. Daniels, Roy I., 141 W. Jackson Blvd. Davis, Maurice, 141 W. Jackson Blvd. Davis, Paul H. & Co., 10 S. LaSalle St. Davis, Robert C., Box 618, Ojai, Calif. Dean, J. Clarke, 120 S. LaSalle St. deConingh, Peter C., 5480 Cornell Ave. Ditt, Paul C. & Co.. 120 8. 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 ft Company, 231 S. LaSalle St. Fairman, Randall & Co., 208 S. La Salle St. Faroll Bros., 141 W. Jackson Blvd. Farwell, Chapman & Co., 208 S. LaSalle St. Feinberg, Joseph H., 10 S. LaSalle St. Fenner ft Beane. 141 W. Jackson Blvd. Forberg, Walter O., 10 S. La Salle St. Forschner, A. J.. 12150 Parnell Ave. Francis, Bro., & Co., 222 N. 4th St., St. Louis, Mo. Frank, A. R. ft Co., 120 8. LaSalle St. Freeburne, Roy W., 1455 King St., East, Hamilton, Ont., Canada. Freehling, Norman, 120 S. LaSalle St. Friedman, Brokaw & Sainish, 711 St. Charles St., St. Louis, Mo. Frommer & Co., 338 N. Capitol St., Indianapolis, fnd. Fuller, Cruttenden ft Co., 120 8. LaSalle 8t. Furness, Thomas F„ 111 S. LaSalle St. Uenrig, Frank L. ft Co.. 135 S. LaSalle St. Giblin, Walter M„ 10 S. La Salle St. Gibson, Robert H., 235-7 Scott Blvd., Covington, Ky. Gifford, Cedric C., 120 S. LaSalle St. Gifford, Lewis F., R. F. D. 5, Wooster, O. Glass, Walter. 135 S. LaSalle St. GLORE, FORGAN * CO., 123 8. LaSalle St. Godow, Joseph, 110 N. Franklin St. Goodbody & Co., 115 Broadway, New York, N. Y. Graham & Co., 141 W. Jackson Blvd. Graham, Percy, Jr., 400 West Madison St. Granberry & Co., 50 Broadway, New York, N. Y. Gray, Luman H., 120 Pipestone St., Benton Harbor, Mich. Griffin, John J., 120 S. La Salle St. Gross, Gilbert, 1700 S. Michigan Ave. 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. BALLGARTKN ft CO., 120 8. LaSalle St. Hamlin, Edward M.t 75 Federal St., Boston, Mass. 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., 134 S. LaSalle St. Harrison, O’Gara & Co., 209 S. LaSalle St. Hastey, Robert P., 4420 Greenwood Ave. Hemphill, Noyes & Co., 141 W. Jackson Blvd. Hermes, John P„ 332 S. LaSalle St. Hill & Co., 2020 Carew Tower. Cincinnati, Ohio Hilliard, J. J. B. & Son, 419 W. Jefferson St., Louisville, Ky. Hopkins, William L., 650 S. Spring St., Los Angeles, Calif. Homblower & Weeks, 39 S. LaSalle St. Howell, Douglass & Co., Russ Bldg., San Francisco, Calif. Hoyt, Frederick T., 160 N. LaSalle St. Hnlburd, Warren ft Chandler, 208 S. La8alle 8t. Hummer (Wayne) & Co., 105 W. Adams St. Hutton, W. E„ ft Co., 1st N. Bk. Bldg., Cincinnati, Ohio. 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. Jones, Edward D„ & Co., Boatmens Bank Bldg., St. Louis, Mo. Kaplan, Robert, 5801 S. State St. Karasik, Nathan, 337 E. Illinois St. Keefe, John G., Route 3, Antioch, Ill. Kinsman, Charles E., 245 Claremont St., Elmhurst, Ill. Kirk, Van G„ 105 S. La Salle St. Kissilove, J. M„ 10 S. La Salle St. LAMBORN, HUTCHINGS ft CO., 231 8. LaSalle St. Lamson Bros. & Co., 141 W Jackson Blvd. Lamy, Raymond P., 1226 Elmwood Ave., Evansxon, Ill. Lancton, William F.. 209 S. LaSalle St. Langill & Co., 134 S. La Salle St. Layman, Waldo A,, 134 S. LaSalle St. Lehman Bros., 231 S. LaSalle St. Lippmann, Albert F., 105 S. LaSalle St. Lizars (Rawson) & Co., 135 S. LaSalle St. Logan. Stuart, 2344 Lincoln Park West. Lowenbach, Harry J., Box 36, Glenview, Ill. Lowitz, E„ & Co., 29 Broadway, New York, N. Y. Lyons, W. L., & Co., 231 So. Fifth St., Louisville, Ky. Mabon & Co., 1 Wall St., New York, N. Y. MacFarlane & Holley, 120 S. LaSalle St. Magner, Joseph F., 6333 Wayne Ave. Marks, Laser & Co., 231 S. LaSalle St. Masten, A. E., & Co., First Nat’l Bk. Bldg., Pittsburgh, Pa. Matthews, Walter N„ 11 S. LaSalle St. McDermott, Francis O., 120 S. LaSalle St. McDonald, Frank E. & Co., 120 S. LaSalle St. McMaster, Stewart, St. Anthony Hotel, San Antonio, Texas. McMaster, Hutchinson & Co., 105 S. LaSalle St. Merkle, Frank P., 225 Leicester Rd„ Kenilworth, Ill. Meyerhoff, Irving E., 120 S. LaSalle St. Mills, H. J. & Co., 120 S. LaSalle St. MITCHELL, HUTCHINS ft CO., 231S. LaSalle St. Molloy, Edward P., 135 S. LaSalle St. Molloy, John J., 135 S. LaSalle St. Molyneaux, Thomas F., 332 S. LaSalle St. Montgomery, Scott & Co., 123 So. Broad St., Philadelphia. Pa. Moore, McLean & McDermott, 200 S. LaSalle St. Morse, William H., 141 W. Jackson Blvd. MOSELEY, F. S. ft CO., 135 S. LaSalle St. Myers, Joseph W., 120 S. LaSalle St. Nance, Clement A., 506 S. Wabash Ave. Neuhut, Plohn & Co., 60 Broad St., New York, N. Y. Newman, Harry E., 209 S. LaSalle St. Norris, James, 141 W. Jackson Blvd. Norris & Kenly, 208 S. LaSalle St. Noyes, David A. & Co., 208 S LaSalle St. Nussbaum, Bertram, Sherry Hotel. Nussbaum, Paul E., 1166 East 54th Place. OLIFHANT, JAS. H. ft CO., 209 S. LaSalle St. Paine, Webber & Co., 209 S. LaSalle St. Patton, Joseph R. ft 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. Peabody, Stuyvesant, 231 S. La Salle 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., 135 S. LaSalle St. Pratt, Joseph M., 135 S. La Salle St. Prince, F. H„ 1 Court St., Boston, Mass. Purcell, Lawrence N., 209 S. LaSalle St. Quinn, David H„ 208 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, 105 East Delaware St. Reynolds & Company, 120 Broadway, New York, N. Y. Reynolds, Maurice V., 22 West Monroe St. Richardson, Howard C„ Jr., 141 W. Jackson Blvd. Riter & Co., 134 S. LaSalle St. Roach, Edward A., 120 S. LaSalle St. Rodger, Arthur T„ 10 S. LaSalle St. Roeder, Joseph A., 20 N. Wacker Drive. Rogers, Frank E., 10 S. LaSalle St. Roseniield, 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 8. LaSalle St. Sawyer, R. B„ 1031 Maple Are., Evanston, Ill. Schenck, Robert F„ Jr., 10 S. LaSalle St. Schmaltz, James J., 327 S. LaSalle St. Schroth, Theodore F., Boatmen’s Bank Bldg., St. Louis, Mo. Schroth, Wilbur H„ 120 S. LaSalle St. Scobie, David P., 175 W. Jackson Blvd. Seaverns, George A., Jr., 164 W. Jackson Blvd. Sharp, Edward L., 231 S. LaSalle St. Shearson, Hammill ft Co., 208 S. LaSalle St. Shields & Company, 135 S. LaSalle St. Shlmmin, Robert P. ft Co., 135 S. LaSalle St. Shipley, Charles A., 120 LaSalle St. Siegel, William, 231 S. LaSalle St. Sigmann, Robert A., 120 S. LaSalle St. Simon, I. M., & Co., 315 N. 4th St., St. Louis, Mo. Simons, Alex McD., 141 Jackson Blvd. Simpson, James Jr., 1 N. La Salle St. Simpson, William B„ 1300 N. Branch St. Sincere, Chas., (Est. of) 3500 Lake Shore Drive. Sincere ft Co., 231 S. LaSalle St. Slaughter, A. O., & Co., 120 S. LaSalle St. Smart, R. H. ft Co., 141 W Jackson Blvd. Smith, Barney & Co., 105 W. Adams St. Smith Bros & Co., 29 S. LaSalle St. Smith, Solomon A., 50 S. LaSalle St. Smith, Walter B„ 50 S. LaSalle St. Smith, Wharton C„ 106 E. 4th St., St. Paul, Minn. Snedeker, Chas. V., & Co., 1 Wall St., New York, N. Y. Solomon, Frank, P. O. Box 5968, Cleveland, Ohio. Solomon, Leslie J.. 223 W. Jackson Blvd. Spicer, Henry S., Pigott Bldg., 36 James St., So., Hamilton, Ontario, Canada. Spinney, Fred, 141 W. Jackson Blvd. Stannard, Frederick J., 120 S. LaSalle St. Stearns, David P., 2407 Bennett Ave., Evanston. Stein Bros. & Boyce, 6 S. Calvert St., Baltimore, Md. Stein, Brennan & Co., 9 S. LaSalle St. Stein, Irving C„ 231 S. LaSalle St. Sterling, Louis V., 42 Broadway, New York. Stoddard ft Boyden, 120 S. LaSalle St. Strick. Charles A., 135 S. LaSalle St. Stuart, Harold L„ 201 S. LaSalle St. SUTRO BROS. & CO., 134 S. LaSalle St. Swift, Henke & Co.. 135 S. LaSalle St. Talcott, Potter & Co., 141 W. Jackson Blvd. Teegarden, Frank W., 120 S. LaSalle St. Templeton’s Sons, J. 8., 141 W. Jackson Blvd Thompson, Arthur R„ 120 S. LaSalle St. Thomson ft McKinnon, 316 S. LaSalle 8t. 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., Box 868, Beverly Hills, Calif. Warner, Addison, & Co., 39 S. LaSalle St. Watling, Lerchen & Hayes, Buhl Bldg., Detroit, Mich. Webster, Marsh & Co., 209 So. La Salle St. Webster, Virgil C., 120 S. LaSalle St. Weinress & Co., 231 S. LaSalle St. Wheeler, John E„ 105 S. LaSalle St. Wilcox & Co„ 14 Wall St., New York. Williams, Lucian E., 231 S. LaSalle St. Wilson, Harold C., 7446 Indiana Ave. Wilson, Hugh H„ at David A. Noyes ft Co., 208 S. LaSalle St. Wilson, Robt. C„ 5128 Hyde Park Blvd. Winter, Wallace C„ 120 S. LaSalle St. WINTHROP, MITCHELL ft CO., 141 W. Jackson Blvd. Witter (Dean) & Co., 45 Montgomery St., San Francisco, Calif. Wood, Edwin T., 120 S. LaSalle St. Wood, R. Arthur, 231 S. LaSalle St. Wortman, G. R. & Co., Aurora National Bank Bldg., Aurora, Ill. Wright & Sexton, 1 Wall St., New York, N. Y. Wright, Warren, 33 N. LaSalle St. Young, Clarke & Company, 215 W. 7th St., Los Angeles, Calif. Zeiler, F. M. & Co., 209 S. LaSalle St. Farther Information on Arms appearing in hold faeo typo will bo found In the selected list of Investment Dealers following bank list In eaeb city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1676 STOCK EXCHANGE MEMBERS LOUISIANA NEW ORLEANS STOCK EXCHANGE Officers: Geo. E. Williams, President; Larz E. Jones, Vice-President; George J. Krummel, Secretary; Emmett Meyer, Assistant Secretary. BATES OF COMMISSIONS Established by the New Orleans Stock Exchange. Robert R. Wolfe, Treasurer; 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.......................... $2.50 per $1,000.00 by the U. S. Government: (c) any class of bonds maturing within six months. •By resolution of the Governing Committee it is permissible for members to charge on these issues the minimum commission prevailing thereon on the other exchange on which these bonds are listed. ON ALL STOCKS SELLING: Under fifty cents--------------------- -------------------------- As mutually agreed On Exchange, Theatre and Club Stocks selling: At fifty cents and above, but under $1.00.__Not less than 3 cts. per share At or below $100.00________________________________ $5.00 per share At $1.00 and up to $10.00_________________________ 12}4 cts. per share Between $100.00 and $1,000.00__________________ 5% of market Talus At $10.00 up to $50.00 per share_____________________ 25 cts. per share At $1,000.00 and up to $5,000 00, exclusive_______ $50.00 per share At $50.00 up to $100.00 per share.......................... 50 cts. per share At $5,000 00 and up to $10,000.00, exclusive______________ $100.00 pershare At $100.00 and over________ ____________ 1% of Market price per share At $10,000.00 and up to $15,000,00, exclusive_____________ $150.00 pershare At $15,000.00 and up to $20,000.00_____________________ $200.00 pershare On stocks selling at $200.00 per share and over, 50 cts. for the first $200.00 in price and 5 cts. per share additional for each $50.00 increase in Commissions on rental of Exchange stocks shall be $5.00 as a mlnlmnm price or fraction thereof. charge. The minimum commission of $2.00 on any one transaction shall not apply On rentals for periods less than one year the commission shall be pro-rated1' on transactions in (a) U. S. Government bonds: (b) any bonds guaranteed provided no commission less than $5.00 shall be charged. THE MINIMUM CHARGE ON ANY ONE TRANSACTION SHALL BE $2.00 MEMBERS Alrey & Richardson, 816 Union St. Gumbel, Herbert, 610 Maritime Bldg. Reinach. Solomon, 740 Gravier St. Airey, T. L., 816 Union St. Huggins, Allen C., 839 Gravier St. Schulze, C. H„ 1831 S. Dupre St. Alcus, S. T„ Jr., 603 Whitney Bldg. Hyams, C. H., III., 610 Common St. Stanton, Lewis H., 552 Canal Bank Bldg. Barriere, E. Percy, 708 Carondelet Bldg. Jones, Larz A., I. C. R. R. (Union Station). Steinhardt, Jeffrey, 1528 Canal Bank Bldg. Beer & Co., 817 Gravier St. Jones. Larz E„ 319 Hibernia Bank Bldg. Uhlhorn, C. L„ 636 Whitney Bldg. Brunlng, H. J„ 1006 Gravier St. Lamar, Kingston A Labouisse, 1605 Canal Bk. Villere, St. Denis J., 552 Canal Bank Bldg. Butler, H. M„ 1303 Canal Bank Bldg. Bldg. Villere A Co., St. Denis J., 552 Canal Bk. Bldg. Clark, Russell, Maritime Bldg. Lamar, L. V., 1605 Canal Bank Bldg. Vincent, Hugh E., 301 Vincent Bldg. Liuzza, Philip J., 214 Carondelet Bldg. Waters A Alcus, 603 Whitney Bldg, Marquez, Vernon, 818 Gravier St. Weil, Walter H. (Arcade), Union Bldg. DANE * WEIL, Ine., 1528 Canal Bk. Bldg. McLean, Chas. I., Gulf Bldg., Houston, Tex. Weil, Walter H., Jr. (Arcade), Union Bldg. Moore A Hyams, 610 Common St. Weil & Co., Inc.. (Arcade), Union Bldg. Dane, Jno., 1528 Canal Bank Bldg. Moore, Jr., R., 610 Common St. Wells, Chas. W., 408 Cotton Exchange Bldg. D’Antoni, B. S., 708 American Bank Bldg. Mysing, A. W„ 722 St. Louis St. Wells & Stanton, 408 Cotton Exchange Bldg. Eustis, Cartwright, 824 Canal St. Nusloch, Geo. H„ 827 Hibernia Bank Bldg. Wheeler, Jr., A. B., 724 Common St. Feibleman, T. J„ 210 Carondelet Bldg. Nusloch, Baudean A Smith, Inc., 827 Hibernia Wheeler A Woolfolk. 724 Common St. Fenner & Beane, 818 Gravier St. Bank Bldg. Williams, Geo. E., 817 Gravier St. Fenner, Chas. E., 818 Gravier St. Ogden, Fred N„ 403 American Bank Bldg. Wolfe A Fowler, 717 Carondelet Bldg. Fowler, H. W„ 214 Balter Bldg. Pierce A Co., E. A. Maritime Bldg. Wolfe, Robert R., 717 Carondelet Bldg. Glenny. E. B„ 736 Whitney Bldg. Plauche, Jas. J., 724 Common St. Woolfolk, J. W„ 724 Common St. Gray A Wilmerding, Gulf Bldg., Houston, Tex. Poupan, S. J., 823 Perdido St., (Room 202). Woolfolk, Huggins A Shober & Co., 839 Gravier St. MARYLAND BALTIMORE STOCK EXCHANGE Officers: Chas. W. L. Johnson, President Henry G. Riggs, Vice-President (208 E. Redwood St.) Walter M. Weilepp, Secretary F. Grainger Marburg. Treasurer M. L. Rodemeyer, Assistant Secretary-Treasurer RATES 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 NonMinimum Commissions on Stocks Selling at Prices Below Exchange 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. lc Under 10c a share.................................... ................................ The minimum commission charged on any completed individual trans 3c At 10c a share and above, but under $1........................ .— action in stocks shall be not less than $2.50, except that the commission charge on any such transaction involving a total amount of less than $50.00 At $1 a share and above, but under $10................................ - 7Kc 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. 15c At $10 a share and above, but under $50.............................. 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 Non40c At $100 a share and above, but under $150.......................... 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}^c At $200 a share and above................................................... . ■ H% 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 charged on any transaction in bonds shall be $2.50. MEMBERS Robert Garrett & Sons, South and Redwood Sts. Abell, Walter W., 2nd, 401 Stock Exchange Bldg. Murphy & Co., G. M-P., Calvert Bldg. Allen, Edw. D., 209 Keyser Bldg. Theodore Gould, 405-6 Keyser Bldg. Nelson, Alex C., 508 Stock Exchange Bldg. Griswold, Jr., B. Howell, 135 E. Baltimore St. Edward D. Allen & Co., 209 Keyser Bldg. Poe, Philip L., 105-106 Stock Exchange Bldg. Haxall, J. Triplett, c/o C. W. L. Johnson, 508 Poe & Co., Philip L., 105-6 Stock Exchange Bldg. Stock Exchange Bldg. Post, George B., Jr., 101-3 Stock Exchange Bldg. BAKER, WATTS & CO., Calvert and Red Howard & Co., John D., South and Redwood Sts. Post & Flagg, 101-3 Stock Exchange Bldg. wood Sts. W. E. Hutton & Co., 1st N. Bk. Bldg. Riggs, Henry G., 32 South St. Baker, Wm. G„ Jr., Calvert and Redwood Sts. Iglehart, Joseph A. W., First National Bank Bldg. Riordan, John J., Jr., 1513 Fidelity Bldg. Barney, C. D. & Co., Ill Redwood St. Jenkins, T. Courtenay, 10 South St. Rogers, C. Holden, 10 South St. Bell, Vernal W., 135 E. Baltimore St. Jenkins, Whedbee A Poe, 10 South St. Rosenburg, Abel A., c/o Mackubin, Legg A Blnford, Charles T., 10 South St. Johnson, Chas. W L. 508 Stock Exchange Bldg. Co., 222 E. Redwood St. Blocher, Thomas S., 802 Union Trust Bldg. Jones, Elisha Riggs, First National Bank Bldg. Schwarz, Howard S., 202 Keyser Bldg. Block, Simon J„ 201 Keyser Bldg. Jones, Schaefer & Co., First National Bank Bldg. 8chwarz, Morton & Schwarz, 202 Keyser Bldg. Block, Simon J., A Son, 201 Keyser Bldg. Jones, John Marshall, 225 E. Redwood St. Scott, Geo. M., Stock Exchange Bldg. Boyce, C. Prevost, 6 S. Calvert St. Jones & Co., John Marshall, 225 E. Redwood St. Soper, Harry B., 312 Vickers Bldg. Alexander Brown & Sons, 135 E. Baltimore St. Koppelman, Walter, 219 E. Redwood St. Harry B. Soper, 312 Vickers Bldg. Brown, J. Dorsey, 404 Stock Exchange Bldg. Kriegel. Leo, 500 Stock Exchange Bldg. Stein Bros. & Boyce, 6 S. Calvert St. Bruton A Co., 1520 Munsey Bldg. Lanahan & Co., W. W., Calvert Bldg. Stewart C. Morton, Calvert and Redwood Sts. Bruton, Leonard Marshall, 1520 Munsey Bldg. Lanahan, W. Wallace, Calvert Bldg. Strother, Brogden A Co., Calvert and Redwood 8ta. Cahn & Co., Frank B., Equitable Bldg. Legg, John C., Jr., 222 E. Redwood St. Strother, T. Nelson, Calvert and Redwood Sts. Carroll, Douglas G., 107-108 Stock Exch. Bldg. Leimbacb & Co., 7 St. Paul St. Taylor, Howard R., 107-8 Stock Exchange Bldg. Carroll & Co., Douglas G., 107-108 Stock Ex Leimbach, Walter G., 7 St. Paul St. Howard R. Taylor & Co., 107-8 Stock Exchange change Bldg. Lemoine, Oscar M., South and Redwood Sts. Bldg. Cassilly, Thos. A. Jr., Stock Exchange Bldg. Lockwood, Peck & Co., 708 Keyser Bldg. Thompson, R. L., 308 Vickers Bldg. Castles, John W., Ill E. Redwood St. Mackubin, George, 222 E. Redwood St. Tilden, Marmaduke, 708 Keyser Bldg. Cooper, J. C„ 300 Stock Exchange Bldg. Weilepp, Walter M., 207-8 Keyser Bldg. Cooper, J. Crossan, 300 Stock Exchange Bldg. Westheimer A Co., 211 E. Redwood St. MACKUBIN, LEGG & CO., 222 E. Redwood St. Daly, Lee E., 23 South St. Westheimer, Henry F., 211 E. Redwood St. Daly & Co., Owen, 23 South St. Marburg, F. Grainger, 502 - 5 Keyser Bldg. Whedbee, James S., 10 South St. Davies, H. L., 500 Stock Exchange Bldg. Marburg. Price & Co., 502-5 Keyser Bldg. Wheeler, J. Harold, 101-3 Stock Exchange Bldg. Drewry, Cooper R., Stock Exchange Bldg. Matthews, T. Stockton, South and Redwood Sts. Whelan. Jr., Thomas A., 222 E. Redwood St. . Duer, Henry L., 500 Stock Exchange Bldg. Mead, W. Carroll, 511-12-13 First National White A Co., Henry M., 1414 Fidelity Bldg. Elder, Wm. Voss, Jr., 209 Keyser Bldg. Bank Bldg. White, Henry M., 1414 Fidelity Bldg., Evans, Henry C„ 6 S. Calvert St. Mead, Irvine & Co., 511-12-13 First National. Whiteley, T. Evans, Stock Exchange Bldg. Fahenstock, Albert, Stock Exchange Bldg. Bank Bldg. Whitridge, William, Garrett Bldg. Fisher,.Frank of J., 10 South St. Mitchell, Jr., C. Benjamin, 10 South St. Whitridge A Son, John A., Garrett Bldg. J. Harmanus Fisher & Sons, 10 South St. Morgan, Shirley C„ Equitable Bldg. Wilson, Jr., J. Sawyer, Calvert Bldg. Further Information on firms appearing In bold faee type will be found In tbe selected list of Investment Dealers following bank list In each elty. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1677 MASSACHUSETTS BOSTON STOCK EXCHANGE 53 State Street Officers: William B. Long, Pres. Stephen Paine, Viee-Pres. Mark R. Hodges, Tr. Henry E. Tracy, See MINIMUM RATES OF COMMISSION In Effect January 11, 1938 ON BONDS, PER $1000 OF PRINCIPAL Selling Price Railroad, public utility and industrial bonds, having more than five years Per $1000 of Principal Rate to run. $5 and above but under $6............... Not Less Than 9.0c Selling Price $6 and above but under $7....... Not Less Than 10.0c Per $1000 of Principal Rate $7 and above but under $8____________ ..Not Less Than 11.0c Under 10% of Par............... ..........................................Not Less Than 75c $8 and above but under $9....... ...Not Less Than 12.0c 10% of Par and above but under 100% of Par_____ Not Less Than $1.25 $9 and above but under $10.____ Not Less Than 13.0c 100% of Par and above________________________ Not Less Than $2.50 (Base Rate; (Government Bonds are exempt from the regular rate) $10 and above------------------------------- Not Less Than 13.0c base rate plus ON STOCK, RIGHTS AND WARRANTS 1.0c for each $10 of the price per share (Hereinafter referred to as “Stocks”) Selling Price * Notwithstanding the foregoing, when the amount involved in a transaction is less than $1, the commission shall be as mutually agreed; when the amount , Share Rate per Share involved is $1 or more but less than $50, the minimum commission shall be of $1-----------------------------------------------------Not Less Than 0.1c not less than 6% of such amount or $1, whichever is greater; and when the 1/128 Not Less Than 0.15c amount involved is $50 or more, the minimum commission shall be not less 1/64 of $1 to and including 2/32 of $1___________ Not Less Than 0.5c than $3. Over 2/32 of $1 but under 8/32 of $1......... Not Less Than 1.0c 8/32 of $1 and above but under y of $1__________ Not Less Than 1.5c On Bonds or Notes of Foreign Countries having five years or less to run; Y of $1 and above but under $1........... Not Less Than 3 0c Notes of Corporations having five years or less to run; Bonds having five $1 and above but under $2....................... ..Not Less Than 5.0c years or mss to run; such rates to members or non-members as may be $2 and above but under $3........... .Not Less Than 6 0c mutually agreed upon; provided, however, that the Committee on Com $3 and above but under $4........... Not Less Than 7.0c missions with the approval of the Governing Committee, may hereafter $4 and above but under $5......... Not Less Than 8.0c determine special rates on any or all of the above mentioned securities. MEMBERS Adams, L. Sherman, 10 Post Office Square Adams, Weston W., & Co., 15 Congress St. Amsdem, Malcolm F„ 53 State St. Gilbert, Edward W„ 53 State St., Room 36 B. Giroux, Archibald R., 53 State St., Room 36B. Griffith, Norman H., 60 Congress St., Room 411 J. S. BACHE ft CO., 10 Post Office Square. 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. Hornblower & Weeks, 60 Congress St. Hovey, Chandler, & Co., 82 Devonshire Street, Room 326. Hubbard, Richard, 10 Post Office Square. Hunt, Carleton, 24 Federal St. Hutchins & Parkinson, 53 State Street. Baldwin & Co., 30 Federal Street. Batchelder, Hanrahan & Co., 332 Main St., Worcester, Mass. Besse, Harry W. ft Co., 89 State St. Blake Bros. ft Company, 111 Devonshire Street. Bolles, Richard F„ 35 Congress St., Room 1003. 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. ft Co., 84 State Street. Bright, Sears & Co., 53 State Street. Brown Brothers Harriman & Co., 10 P. O. Square. Brown, Waldo M., 49 Federal 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. Chapin & Co., S. B., 53 State St. Clark, Dodge ft Co., 70 Federal Street. Collins, Breed & Co., Shawmut Bk. Bldg. Colwell & Co., 209 Washington Street. Cousens, Foster, & Co., 53 State St. Crocker, Percy G. ft Co., 35 Congress Street. Crownlnshield, B. Davis, 75 Federal St. Dabney, F. L. ft Co., 10 Post Office Sq. Dabney, Frederick L„ 53 State St., Room 439. Davis ft Davis, 10 Weybosset St., Providence, R. I. DAT, R. L. ft CO., 45 Milk Street. Dean, James, 201 Devonshire St., Room 631. ESTABROOK & CO., 15 State Street. Pales, T. C. ft Co., 140 Federal Street. Fay, S. Prescott, Framingham Centre, Mass. Fernaid, Lloyd D., 3d Nat’l Bank Bldg., Springfield, Mass. Foster, Hatherly, Jr., 85 Devonshire St. Oagen, T. F. ft Co., 53 State Street, Room 36A. Jackson ft Curtis, 10 Post Office Square. Jenney, Wm. T„ 84 State St. Kelly, Michael A., 84 State St. KIDDER, PEABODT & CO., 115 Devonshire Street. Kingsbury, Thayer, Keene, N. H. Kinsley & Adams, 6 Norwich St., Worcester, Mass. Kitchlng, E. J. ft Co., 75 Federal Street. Laldlaw ft 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. Mann & Gould, 35 New Derby St., Salem, Mass. Monahan, Edward C„ 50 Congress 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. MOSELEY, F. S. & CO., 50 Congress Street. Moseley, Frederick S„ 50 Congress St. Mott, Louis P. & Co., 80 Federal Street, Room 308 Newman, Harding C., 10 Post Office Square. Paine, Webber & Co., 24 Federal Street. Peterson, John H., 60 State St. Pierce & Co., E. A., 24 Federal Street. Pitcher, Osborne H., 31 State St. Pitman, Harold A., 53 State St., Room 1032. Poor, Stearns, 84 State St. Prince, F. H., & Co., Court and Washington Sts. Proctor, Cook & Co., 35 Congress Street. Reed, Jacob, 8 Foster St., Worcester, Mass. Rich, Geo. A., 53 State St. Rhoades & Co., 49 Federal St. Sanford & Kelley, 20 Market St., New Bedford, Mass. Schirmer, Atherton & Co., 79 Milk 8treet. Sears, Winslow, 68 Devonshire St. Sewall, R. Lentner, 60 State St. Simmon, David A., & Co., 10 Post Office Square. Smith, Barney & Co., Ill Devonshire St. Smith, James P. & Co., 1387 Main St., Springfield, Mass. Southgate Ray E., 53 State St. Stevens, Samuel W„ 45 Milk St. Thomson & McKinnon, 10 Post Office Square. Thorndike ft 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 ft Co., 74 State Street. Wainwright, H. C. ft Co., 60 State Street, Room 101. Walker, C. W. & Co., 10 Post Office Sq. Webber, Ralph B., 53 State St. Whitney, Byam ft Co., 53 State Street, Room 633. Whitney & Elwell, 30 State Street. Wiggin, Russell B., 53 State St. Williams, Robert W., 53 State St. Winsor, Kennard, 115 Devonshire St. Worden, William M„ 84 State St. Worthen, Nathaniel T., 68 Devonshire St. Wrenn Bros. & Co., 30 Federal Street. Yerxa, John E., 30 State 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 1678 MICHIGAN DETROIT STOCK EXCHANGE (415 Griswold St.) Officers: Frederick J. Winckler, President; Clark C. Wickey, Assistant to the President; George A. Miller, Vice-President; Clark J. W. Colby, Secretary; Lawrence C. Angstrom, Treasurer. COMMISSION RATES Stocks selling at $75.00 per share and above, but under $100.00, not less than 20c per share. Stocks selling at $100.00 per share and above, but under $200.00, not less than 25c per share. Stocks selling at $200.00 per share and above, but under $250.00, not less than 30c per share. For each additional $50.00 In price, 5c additional. The minimum commission on all transactions in listed securities shall not be less than $3.00 to individuals and $2.00 to institutions, except in cases where the amount Involved is $50.00 or less, the minimum commission may then be, at the discretion of the member, $2.00 to individuals and $1.00 to institutions. Stocks selling under 50c per share, 2% of amount inyolred. Stocks selling at 50c per share and above, but under $1.00, not less than Sc per share. 8tocks selling at $1.00 per share and above, but under $10.00, not less than 7Hc per share. Stocks selling at $10.00 per share and above, but under $25.00, not less than 12Hc per share. Stocks selling at $25.00 per share and above, but under $50.00, not less than 15c per share. Stocks selling at $50.00 per share and above, but under $75.00, not less than 17Hc per share. MEMBERS Alison & Co., 244 Buhl Bldg. Angstrom, Lawrence C„ 904 Penobscot Bldg. Avery & Co., 1502 Penobscot Bldg. Avery, Clarence F., 60 Broad St., New York, N. Y. Babbitt, Vogel & Co., 1880 Penobscot Bldg. Hulburd, Warren & Chandler, 208 S. LaSalle St., Chicago, Ill. Humphries, Angstrom & Co., 904 Penobscot Bldg. BACHE, J. S. & CO., 735 Griswold St. Hutton, William E., 600 Griswold St. Keane & Co., 1866 Penobscot Bldg. King, Boug, Stodgell & Co., 224 Penobscot Bldg. Larzelere, Joseph E„ 224 Penobscot Bldg. Lee & Co., William M„ 613 Ford Bldg. Lewine, Jerome, Hanover Square, New York, N. Y. Livingstone, S. R., 1356 Penobscot Bldg. Livingstone, S. R. & Co., 1356 Penobscot Bldg. MacCrone, Edw. E„ 2664 Penobscot Bldg. Marks, A. L., 314 Ford Bldg. Marks, Burton, 775 Penobscot Bldg. McDonald, Claude G., 1000 Buhl Bldg. McLean, John F., 1806 Penobscot Bldg. McLean & Co., John F„ 1806 Penobscot Bldg. Miller, George A., 1444 Buhl Bldg. Moody, Bollinger & Co., 1904 Penobscot Bldg. Moss, W. E„ 2416 Union Guardian Bldg. Moss, W. E. & Co.. 2416 Union Guardian Bldg. Moye, G. Gordon, 613 Ford Bldg. Noble, Herbert W„ 306 Dime Bank Bldg. O’Donnell, R. C., 2166 Penobscot Bldg. O’Donnell & Co., R. C„ 2166 Penobscot Bldg. O’Hara, John F., 244 Buhl Bldg. Olson, Warren T„ 2416 Union Guardian Bldg. Paine, Webber & Co., 100 Penobscot Bldg. Parcells, Charles A., 639 Penobscot Bldg. Parcells, Charles A. & Co., 639 Penobscot Bldg. Phelan, Jr., James J., 244 Penobscot Bldg. Pierce & Co., E. A., 300 Buhl Bldg. Porter, Stuart P.t 1134 Buhl Bldg. Baker, Simonds & Co., 1134 Buhl Bldg. Balcom, Yorke R., 1464 Penobscot Bldg. Beard, Frederick H., 1880 Penobscot Bldg. Bennett, Smith & Co., 640 Griswold Street. Bollinger, Paul T„ 1904 Penobscot Bldg. Brown, Orman E., 1464 Penobscot Bldg. Butler, James M., 328 Penobscot Bldg. Butler & Co., J. M„ 328 Penobscot Bldg. Carpenter, Jos. N„ 67 Broad St., N. Y. Crouse & Co., 1800 Penobscot Bldg. Crouse, Charles B., 1800 Penobscot Bldg. Dominick & Dominick, 314 Ford Bldg. Els, Valette R„ 244 Penobscot Bldg. Ellwood, Aaron A., 639 Penobscot Bldg. Esch, Ingo A., 120 Broadway, New York. Fenner & Beane, 600 Union Guardian Bldg. Ferriss, W. Paul, 904 Penobscot Bldg. Ferrlss, 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. Gray, Hugh M., 1866 Penobscot Bldg. Hague, Samuel, 1446 Penobscot Bldg. Hastings, Peirce A., 1666 Penobscot Bldg. Hav, Ivan 0., 1753 Union Guardian Bldg. Hay, Ivan C. & Co., 1753 Union Guardian Bldg. Hentz, H. &. Co., Union Guardian Bldg. Higbie, Jr., N. Bradley, 244 Buhl Bldg. Hinshaw, Joseph, 344 Buhl Bldg. Hornblower & Weeks, 244 Penobscot Bldg. HUTTON, W. E. & CO., 600 Griswold St. Prentiss, John W., 42 Broadway, New York, N.Y. Rathbun, C. K., 866 Penobscot Bldg. Rathbun & Co., 866 Penobscot Bldg. Reid, Andrew C„ 2232 Union Guardian Bldg. Reillv, 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, Jas. E., 2526 Union Guardian Bldg. Ryan & Company, Jas. E., 2526 Union Guardian Bldg. Schlachman. Max, 1356 Penobscot Bldg. Schlachman, Sol, 1356 Penobscot Bldg. Seitz, Harry J., 12 Washington St., Monroe, Mich. Seitz & Gearhart, 12 Washington St., Monroe, Mich. Shader-Winckler Co., 204 Penobscot Bldg. Simonds, Ralph W., 1134 Buhl Bldg. Small, Sidney R., 2356 Penobscot Bldg. Small & Co., Sidney R., 2356 Penobscot Bldg. Smith, Winthrop H., 105 W. Adams St., Chicago, Ill. Soucy, Ernest W„ 161 Devonshire St., Boston, ggg _ Soucy, Swartswelter & Co., 161 Devonshire St., Boston, Mass. Stanton, Frederick W., 629 Penobscot Bldg. Stern, Morton F., 42 Broadway, New York, N.Y. Stewart, A. Clifton, 1812 W. Grand Blvd. 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. Wright, John C., 2066 Penobscot Bldg. Wright, Martin & Co., 2066 Penobscot Bldg. MINNESOTA MINNEAPOLIS'*-ST. PAUL STOCK EXCHANGE Officers: Lester Bigelow, President; D. H. Brown, First Vice-President: H. R. Selover, Second Vice-President; R. M. Rice, Secretary and Treasurer. COMMISSION RATES Effective April 12, 1937 NON-MEMBERS Stocks selling under 50 cts. per share........ .............................. 2 cts. pershare From 50 cts. to $1.00......... 3 cts. pershare $1.00 to $10.00........................... ...7H cts. pershare $10.00 to $25.00.............. ,..................................................12H cts. per share $25 00 to $50.00.....................................................-......... ........15 cts. per share $50.00 to $75.00........ 17H cts. pershare $75.00 to $100.00.______ 20 cts. pershare $100.00 to $200.00..................... 25 cts. pershare At $200.00 and up rate increased $5.00 per 100 each 50 points. Minimum $3.00 if gross amount >s $100 or under $200. $5 if $200 and over. Transactions amounting to less than $100.00—commission at discretion of members. Rights—same as stocks. $2.50 Bonds per $1,000.00 and less. MEMBER TO MEMBER—Give-up Rates. Stocks selling under 50c per share_________________________He per share 50c to $ 1.00...................................................... ................... per share $ 1.00 to 10.00................................................................... 2c per share 10.00 to 100.00.,................................ 3c per share 100.00 to 150.00.................................... 4c per share 150.00 and over...____________________________________________5c pershare Minimum 50c for stocks selling under $10.00 per share. Minimum $1.00 for stocks selling at $10.00 and over per share unless gross amount is under $100—Minimum then 50 cts. Rights—Same as Stocks. Bonds per $1,000.00 or any part................................................Minimum 50c. Names not given up on any stocks, bonds, etc., minimum—double the give-up rate. MEMBERS ALLISON WILLIAMS CO., 1245 Northwest Bank Bldg., Minneapolis. Bigelow-Webb & Co., 1st Nat’l-Soo Line Bldg. Minneapolis. Greenman &Cook, Inc., 1408 E. 1st Natl. Bk.Bldg., St. Paul. Harris-Upham & Co., 11 Wall St., New York, N. Y. Kalman & Company, 144 Endicott Bldg., St. Paul. Lewis & Co.. 601 Second Ave. Minneapolis. Mahoney & Co., C.D., 504 Roanoke Bldg., Minne apolis. Manheimer-Caldwell, Inc., 113 First National Bank Bldg., St. Paul. Molyneaux. J. J., 15 S. 5th St., Minneapolis. Paine, Webber & Co., Rand Tower, Minneapolis. PIPER, JAFFRAY & HOPWOOD, 115 S. 7th St., Minneapolis. Rice, Robert M„ 630 Marquette Ave., Minne apolis. Selover, H. R., & Co., 500 Roanoke Bldg., Minne apolis. Smith & Co., Wharton C„ 106 E. 4th St., St. Paul. A. O. Slaughter & Co., 14 Wall St., N. Y. Thrall West Co., 110 Northwest National Bank Bldg., Minneapolis. Wells-Dickey Company, Metropolitan Bank Bldg., Minneapolis. Wood, Harold E„ & 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 trpe 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 1679 MISSOURI ST. LOUIS STOCK EXCHANGE Officers: B. F.Jacobs, President; J. Gates Williams, Vice-President; W. M. Louderman, Secretary and Treasurer; Chas. A.Huebner, Assistant Secretary. BATES OF COMMISSION Stocks selling at $25.00 per share and less than $100.00 per share, $0.25 STOCKS per share. Stocks selling at $1.00 per share or less, $2.00 per 100 shares. Stocks selling at $100.00 per share and less than $300.00 per share, $0.50 per share. Stocks selling at $1.12^ per share and less than $3.00 per share, $3.00 per 100 shares. Stocks selling at $300.00 per share and less than $500.00 per share, $0.75 per share. Stocks selling at $3.00 per share and less than $5.00 per share, $5.00 Stocks selling at $500.00 per share and over, $1.00 per share. per 100 shares. Stocks selling at $5.00<per share and less than $10.00 per share, $7.50 BONDS per 100 shares. On bonds, $2.50 per $1,000 par value. U. S. Bonds, $0,623^ per $1,000 par value. Stocks selling at $10.00 per share and less than $25.00 per share. $9.12^ per share. The minimum commission to be charged shall be $1.00. MEMBERS Aid, John A., 400 Olive Street. Francis, T. T., Francis Bro. & Co., 222 N. 4th St. P. L. Papin & Co., Merchants-Laclede Bldg. Friedman, Brokaw & Samish, 711 St. Charles St. Barklage, Louis, 317 N ,4th Street. Platt, Edw. G„ 306 N. 8th Street. Friedman, W. Stix, 711 St. Charles Street. Bauer, A. H., 312 N. 4th Street. Preiss, Jos. H., Security Bldg. Fusz, Firmin D., Boatmens Bank Bldg. Bauer Bros Brokerage Co., 312 North 4th Street. Preiss, Wibbing & Co., Security Bldg. Fusz, Schmelzle & Co., Boatmen’s Bank Bldg. Reinholdt, J. W., Jr., Security Bldg. Bennett, Jas. E., 705 Olive Street. Gatch Bros., Jordan & McKinney, 418 Olive St. Bennett, Jas. E. & Co., 705 Olive Street. REINHOLDT & GARDNER, Security Building Berger-Cohn & Co., Landreth Bldg. Gatch, Nelson B., 418 Olive Street H. L. Ruppert & Co., 400 Pine Street. Bramman, Carl T., 314 N. Broadway. Gessler, G. E„ Merchants-Laclede Bldg. Scudder, Chas., 300 N. 4th Street. Bramman-Schmidt-Busch, 314 N. Broadway. Gessler, E. A. & Son, Merchants-Laclede Bldg. Seddon, Bruce, Landreth Bldg. Bixby, W. H. Broadway and Locust. Giger, Harold H., 211 N. 4th Street. Seddon, Morfit & Harvey, Landreth Bldg. Brocksmith, H. L., 400 Pine Street Giger & Co., 211 N. 4th St. Semple, Jacobs & Co., Rialto Building. Brown. Paul & Company, Paul Brown Bldg. Haeussler, W. C., Paul Brown Bldg. Simon, F. M. 315 N. 4th Street. Burg, Wm. H„ La Salle Bldg. Haverstick, E. E., & Co., 346 N. Boyle Avenue. SIMON, I. M. & COMPANY, 31$ North 4th Bt. Cohn, Henry I., Landreth Bldg. E. E. Haverstick, Jr., 346 N. Boyle Ave. Smith, Moore & Co., LaSalle Bldg. Cook, Henry M , 400 Olive Street. Hayward, John., 403 Olive Street. Stickney, W. A., 409 N. 8th Street. Costigan, E. J„ 300 N. 4th Street. Hill Brothers, Security Bldg. Stifel, A. G., Boatmen’s Bank Bldg. Crago, Hitchcock & Co., Security Bldg. Jacobs, B. F., Rialto Bldg. Crago, John H., Security Bldg. Jones, Edward D., Boatmen’s Bank Bldg. STIFRL, NICOLAUS & CO., Boatmen's Bank Daly, L. L., 9th and Locust. Jones, Whipple Van Ness, Security Bldg. Bldg. Daly & Craib. 9th and Locust. Jones. Edw. D. & Co., Boatmen s Bank Bldg. Stix & Company, LaSalle Bldg. D’Oench, William, Franklin-American Trust Bldg. Knight & Co., H. H., 403 Olive St. Taussig, Day & Co., Boatmen’s Bank Bldg. D’Oench, Duhme & Co.. Franklin-Am.Tr.Bldg. Little & Hays Inv. Co., LaSalle Bldg. Taussig, G. J., Boatmen’s Bank Bldg. Donnell, F. C., La Salle Bldg. Louderman, Wm. M., Bank of Commerce Bldg. Wade, Festus J„ Columbia Bldg. Meyer, J. P.t Chemical Building. Waldemer, Edwin R„ LaSalle Bldg. EDWARDS, A. G. & SONS, 409 North 8th St. WALDHEIM, PLATT & CO., 306 N. 8th St. Edwards, A. N., 409 N. 8th Street. NEWHARD, COOK & CO., 401) Olive St. Edwards, P. W. 409 N. 8th Street. WALKER, G. H. & CO., Broadway & Locust Otto, Edw. F., No. 6 Sunset Court, Normandy, FRANCIS BRO. & CO., 222 N. 4th St. Missouri. , Whitaker & Company, 300 North 4th Street. Papin, Pierre L., Merchants-Laclede Bldg. Francis, D. R„ Jr., 222 N. 4th Street. NEW YORK NEW YORK STOCK EXCHANGE Officers: Charles R. Gay, President-, Walter L. Johnson, Vice-President; Dean K. Worcester, Executive Vice-President; Benjamin H. Brinton, Treasurer Robert W. Keelips, Assistant Treasurer; Robert L. Fisher, Secretary; J. M. B. Hoxsey, Executive Assistant to the Committee on Stock List; John Dassau, Comptroller. COMMISSION RATES (Effective January 3, 1938) $10 per share and above...................................Not less than the 14.0c base Rates to Non-members, etc. rate plus 1.0c for each $10 of On business for non-members, partners not members of the Exchange, and the price per share governing members, including joint account transactions in which any such Notwithstanding the fore person is interested, the commission shall be not less than the rates given going, when the amount in below: volved in a transaction is less ON STOCKS, RIGHTS AND WARRANTS than $1, the commission shall (hereinafter referred to as “stocks”) be as mutually agreed; when Except as to Ten-share Unit Stocks and Called Stocks: the amount involved is $1 or more but less than $50. the 1/256 of $1 per share.............. Not less than 0.1c per share minimum commission shall 1/128 of $1 per share___________ Not less than 0.15c per share be not less than 6% of such 1/64 of $1 per share and above but under amount or $1, whichever is 2/32 of $1___________________________ Not less than 0.5c per share greater; and when the amount 2/32 of $1 per share_____________________ Not less than 0.5c per share involved is $50 or more, the Over 2/32 of $1 per share but under 8/32 minimum commission shall of $1....... ........... -______ ______________ Not less than 1.0c per share be not less than $3. 8/32 of $1 per share and above but under ^of$l_____________________________ Not less than 1.5c per share ON CALLED STOCKS H of $1 per share and above but under $1__ Not less than 3.0c. per share Sec. 2, Par. (e): Notwithstanding the rates prescribed elsewhere in this $1 per share and above but under $2............_Not less than 5.0c per share Section 2, the commission rates to members and non-members upon stocks $2 per share and above but under $3_______Not less than 6.0c per share which, pursuant to call or otherwise, are to be redeemed within twelve $3 per share and above but under $4.... Not less than 7.0c per share months shall be such rates as may be mutually agreed upon provided, how $4 per share and above but under $5______ Not less than 8.0c per share ever, that such rates shall apply to transactions in any specific stock only $5 per share and above but under $6______ Not less than 9.0c per share after the Committee on Quotations and Commissions has made announce $6 per share and above but under $7_______Not less than 10.0c per share ment to that effect, and provided, further, that the Committee on Quota $7 per share and above but under $8.... Not less than 11.0c per share tions and Commissions may determine special rates on any or all such $8 per share and above but under $9_______Not less than 12.0c per share securities, reporting the same to the Governing Committee. (The Com $9 per share and above but under $10_____ Not less than 13.0c per share mittee on Quotations and Commissions has not determined any special rates (Base Rate)_________________ _____ __ Not less than the 13.0c base on such stocks.) $10 per share and above______ „__________ rate plus 1.0c for each $10 of ON BONDS: per $1,000 of principal the price per share (except as stated below) Notwithstanding the fore Under $10______________ _________ _____ Not less than 75c going, when the amount in $10 and above but under $100____________Not less than $1.25 volved in a transaction is less $100 and above________________________ Not less than $2.50 than $1, the commission shall Sec. 3, Par. (d): Notwithstanding the foregoing, the commission rates to be as mutually agreed; when members or non-members upon obligations of the United States, Puerto the amount involved is $1 or Rico, Philippine Islands and States, Territories and Municipalities therein; more but less than $50, the upon bonds or notes having five years or less to run; and upon bonds or minimum commission shall notes which, pursuant to call or otherwise, are to be redeemed within twelve be not less than 6% of such months, shall be such rates as may be mutually agreed upon; provided, amount or $1, whichever is however, that the Committee on Quotations and Commissions may deter greater; and when the amount mine special rates on any or all such securities, reporting the same to the involved is $50 or more, the Governing Committee. Under this authority the Committee has ruled that minimum commission shall commissions shall be not less than the rates given below: be not less than $3. ON BONDS OR NOTES HAVING FIVE YEARS OR ON TEN-SHARE-UNIT STOCKS, RIGHTS AND WARRANTS LESS TO RUN, AND BONDS AND NOTES (hereinafter referred to as “stocks”) WHICH, PURSUANT TO CALL OR OTHERWISE, ARE TO BE REDEEMED WITHIN TWELVE As designated by the Committee of Arrangements—except as to MONTHS (Per $1,000 of principal): Called Stocks: Under $1 per share_________________ ____ Same as 100-share-unit stocks Under $10________________ _____ ______ ________ Not less than 75c $1 per share and above but under $2____________Not less than 6.0c pershare $10 and above but under $100____________________Not less than $1.25 $2 per share and above but under $3____________Not less than 7.0c pershare $100 and above but under 96% or over 110% of the $3 per share and above but under $4____________Not less than 8.0c pershare redemption price______________________________Not less than $2.50 $4 per share and above but under $5____________Not less than 9.0c pershare Not less than 96% or more than 110% of the redemp $5 per share and above but under $6___________ Not less than 10.0c pershare tion price: $6 per share and above but under $7___________ Not less than 11.0c pershare Six months or more_____________ ____ ___________Not less than $1.25 $7 per share and above but under $8___________ Not less than 12.0c pershare Less than six months____________________ May be mutually agreed upon $8 per share and above but under $9___________ Not less than 13.0c pershare ON OBLIGATIONS OF THE UNITED STATES, Puerto Rico, Philip $9 per share and above but under $10 pine Islands and States, Territories and Municipalities therein (Base Rate)___ _________ _____________Not less than 14.0c per share _____________________________ _____ May be mutually agreed upon Farther Information on Arms 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 1680 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, Coleman & Co., 16 Broad St. Adrian, Jos. M., 42 Broadway Ahern, John J., 61 Broadway. Alter, Carroll B., 61 Broadway. Andersen, Oswald, 115 Broadway. Anderson & Co., 120 Broadway Anderson, Henry A., 47 Broad St. Andrews, Posner & Rothschild, 25 Broadway Anness, Edw. C„ 1 Wall St. Appenzellar, Allen & Hill, 120 Broadway Apy, Chester, 47 Broad St. Aronson, Bernard & Co., 30 Broad St. Arrowsmith & Co., 120 Broadway. Ash A Co., Mervin, 1 Wall St. Asher, Harry W„ Jr., 60 Beaver St. ASIRL A CO., 11 Wall St. Astor & Ross, 39 Broadway. Atkins, Hamill & Gates, 204 Electric Bldg., Indianapolis, Ind. Atterbury, Robert R., 44 Wall St. Auchincloss & Mills, 80 Broad St. Auchincloss, Parker & Redpath, 719 15th St., Washington, D. C. Auerbach, Poliak & Richardson, 30 Pine St. Baar. Cohen & Company. 120 Broadway BABCOCK, EUSHTON & CO., £0 Broadway Bach, Frederick F., 29 Broadway BACHE A CO., J. S., 42 Broadway Bacon, Stevenson & Co., 39 Broadway. Bade, William H„ 40 Wall St. Baker, Alfred L. & Co., Ill So. La Salle St., Chicago, Ill. Baker, J. E. & Co., 14 Wall St. Baker, Watts & Co., Calvert & Redwood Sts., Baltimore, Md. Baker, Weeks & Harden, 52 Wall St. Ballard & Co., 43 Pearl St., Hartford, Conn. Bamberger, L. Richard, 1 Wall St. Bamberger, Max, 15 Broad St. Barbee, Harry, 40 Wall St. Barclay, Moore & Co., Fidelity-Phila. Trust Bldg., Philadelphia, Pa. Barnwell, Arthur & Co., 100 Broadway Baroni, William J., 50 Broadway. Barrett & Company, 40 Exchange Place Barth, J. & Co., 482 California St., San Francisco, Calif. Bartholomae, H. J., 47 Broad St. Bartlett, Ben], D. & Co., 313 Vine St., Cincinnati, Ohio. Baruch, Sailing W„ 60 Beaver St. Bean, Chas. H. & Co., 1528 Walnut St., Phila delphia, Pa. Bear, Stearns & Company, 1 Wall St. Beardsley, Sterling S., 67 Broad St. Beauchamp, Thomas J., 40 Wall St. Becker, Sherburn M* Jr., 1 Wall St. Beckman, Wm. B. & Co., 20 Broad St. Beer & Company, 30 Broad St. Belden & Co., 61 Broadway. Bell & Beckwith, 40 Wall St. Bendix, Luitweiler & Co., 52 Wall St. Benedict, E. C. & Co., 61 Broadway Benjamin & Ferguson, 61 Broadway Benjamin, Hill & Company, 39 Broadway Bennet, Leslie L. & Company, 60 Broadway. Bennett, James E. & Co., 50 Broadway Bennett & Palmer, 165 Broadway Bennett, Smith & Co., 640 Griswold St., Detroit, Mich. Berdell Bros., 1 Wall St. Berg, Eyre & Kerr, 50 Broadway Berliner & Co., 25 Broad St. Bernard, Winkler & Co., 25 Broad St. Bernheimer, Edwin E., 1 Wall St. Biddison & Co., N. D., 39 Broadway Biddle, Whelen & Co., 1606 Walnut St., Phila delphia, Pa. Biggs, Mohrman & Co., 61 Broadway. Billings, Olcott & Companv, 52 Broadway Bilofsky, Maxwell M., 40 Wall St. Bioren & Co., 1508 Walnut St., Philadelphia, Pa. Bird, W. Gillette, 11 Broadway. Bishop, Allen Reynolds, 1 Wall St. Bissinger & Co., 225 Montgomery St., San Fran cisco, Calif. Blake Brothers & Co., 40 Wall St. Blauner, Simons & Co., 39 Broadway Blinn, Prosper J., 42 Broadway. Bliss, Julius, 24 Broad St. Bloch, Elmer M., 120 Broadway. Block, Myron H., 39 Broadwav. Blumenthai, A. Pain., 1 Wall St. Blumenthal Bros., 39 Broadway. Blumenthai, 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., 52 Broadway. Bradford, J. C. & Co., Nashville Trust Bldg., Nashville, Tenn. Bradshaw, Sydney P., 61 Wall St. Bramley St 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. Breinlng & Co., 17 Battery Place Bright, Elmer H. & Co., 84 State St., Boston, I^lclSS Bright, Sears & Co., 53 State St., Boston, Mass. Brinton & Co., 61 Broadway Britt, Richard J., 25 Broadway. Brody, L. J. Stephen, 109 Killdeer Rd., Hamden, Conn. Brooks & Co., J. H., 120 Broadway. Brown, Alex. & Sons, 135 East Baltimore St., Baltimore, Md. BROWN BROTHERS, HARRIMAN & CO., 59 Wall St. Brown, Geo. Estabrook, 49 Broad St. Brown, James M. Jr., 47 Broad St. Brown, Paul & Co., Paul Brown Bldg., St. Louis, Mo. Brown, Vernon H., 61 Broadway. Brown & Co., Vernon C., 71 Broadway. Brown & Gruner, 120 Wall St. Brumley & Anderson, 120 Broadway Bruns, Edwin G., 11 Wall St. Bruns, Edwin G. Jr., 11 Wall St. Bryan, Penington & Colket, 48 Wall St. Buckley, John F., 47 Broad St. BULL & ELDREDGE, 30 Pine St. Burbank, Bertrand L., 50 Broadway BURNET (W. E.) & CO., tl Wall St, Burnham & Company, 61 Broadway. Burnside, I. FI. & Co., 80 Broad St. Burr, Gannett & Co., 53 State St., Boston, Mass. Burton. Cluett & Dana, 120 Broadway Bushnell, Henry Thompson, 1 Wall St. Butcher & Sherrerd, Real Estate Tr. Bldg., Philadelphia, Pa. Butler, Herrick & Marshall, 30 Broad St. Butler, Wick & Co., Union National Bldg., Youngstown, Ohio. Buttenwieser, Clarence, 25 Broad St. Byck & Broads, 39 Broadway Byram, Hobart R., 42 Broadway. Byrne, James F., 30 Broad St. Bywater & Leary, 14 Wall St. Cahill & Bloch, 39 Broadway. Cahill, Robert L., 39 Broadway. Cahn, Frank B. & Co., Equitable Bldg., Baltimore, Md. Cahn, Joel G., 120 Broadway. Callaway, Fish & Co., 15 Broad St. Campbell & Co., H. G., 52 Broadway Campbell, Oliver S., 11 Broadway. Carey, Denis J., 42 Broadway. Carey, (H. T.) Joost & Patrick, 50 Broadway Carhart, H. Whitfield, Jr., 50 Broadway Carlebach, Herbert L„ 60 Broad St. Carlebach, Walter M., 60 Broad St. Carleton, Alexander, 14 Wall St. Carlisle, Jay F Jr., 50 Broadway. Carlisle, Melllck & Co., 50 Broadway Carmichael & Carson, 52 Wall St. Carreau & Co., 63 Wall St. Ca^rstairs &Co., 1610-12 Walnut St., Philadelphia, 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 & Geer, 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, Charles & Co., 120 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, Edward L. & Co., 52 Wall St. Cohen, Simonson & Co., 30 Broad St. Cohen, Wachsman & Wassail, 70 Pine Street Cohfi Brothers, 24 Broad St. Coleman, Eliot W., 42 Broadway. Coleman, Townsend P., 42 Broadway. Colgate, Jas. B. & Co., 44 Wall St. Collin, Norton & Co., Gardner Bldg., Toledo, Ohio. Collins, David M., Bowood, West Orange, N. J. Collins, John T., 50 Broadway. Combs, Wm. H. & Co., 61 Broadway. Cone, Henry H. Jr., 50 Broadway. Connelly & Co., F. J., 15 Broad St. Conried & Co., 25 Broadway. Content & Co., H., Ill Broadway. Conway (Norton) & Co., 52 Wall St. Cook, Charles K., 40 Wall St. Cooke, James F., 42 Broadway. Cooley & Co., 100 Pearl St., Hartford, Conn. Cooney, Russell S., 120 Broadway Corlies & Booker, 50 Broadway. Corroon, George A., 15 Broadway Coster, Gerard H„ 1 Wall St. Coalon & Co., E. J., 50 Broadway. Courts & Co., 11 Marietta St., Atlanta, Ga. Coward, Raymond A., 40 Wall St. Co wen & Co., 54 Pine St. Cox, E. Van Dyke, Jr., 42 Broadway. Craigmyle & Co., 1 W’all St. Crandell, Walter S„ 25 Broad St. Crane, McMahon & Co., 209 So. La Salle St., Chicago, Ill. Creem, John J. Jr., 61 Broadway. Cullman Brothers, 161 Front St. Cunningham, Cyril E„ 42 Broadway. Curtiss, House & Company, Union Trust Bldg., Cleveland, Ohio. Dabney, F. L. & Co., 10 Post Office Square, Boston, Mass. Dale, Chester, 115 Broadway. Daly & Craib, Locust & Ninth Sts., St. Louis, Mo. Daning, M. J., 60 Wall st. Dann (J. C.) Wickwire & Co., 287 Main St., Buffalo Danzig, Jerome J., 200 Fifth Ave. Davenport & Co., 1113 E. Main St., Richmond, Va. Davies & Co., 225 Bush St., San Francisco, Calif. Davis & Co., Fellowes. 52 Broadway. Davis & Co., J. W., Ill Broadway. Davis & Co.. Morgan, 15 Broad St. Davis & Davis, 10 Weybosset St., Providence, R. I. Davis & McIntosh, lllBroadway Davis, Frank H., 47 Broad St. Davis, Paul H. & Co., 10 So. La Salle St., Chicago, Day & Co., R. L„ 14 Wall St. De Coppet & Doremus, 42 Broadway DeCoppet, Robert F., 47 Broad St. de Cordova & Bro., Cyril, 25 Broad St. de Cordova. Eustace. 25 Broad St. Deery & White, 25 Broad St. De Haven & Townsend, 30 Broad St. Delafield & Delafield, 14 Wall St. Denny, Saportas & Co., 1 Wall St. De Veau, George P., 47 Broad St. De Voe, Dyke A Sperrv, 25 Broad 8t. DICK & MERLE-SMITH, 30 Pine St. Dietrich & Company, F., 1 Wall Street. Diffenderffer & Co., 1611 Walnut St., Philadelphia, Pa. Dixon & Co., 1411 Chestnut St.. Philadelphia, Pa. Dixon, George A., 42 Broadway. Dobbs & Company, 50 Broadway. Dominick & Dominick, 115 Broadway Donoho & Co., J. F., Ill Broadway. Donohue, Joseph T„ 30 Broad St. Douglas & Company, F. H., 61 Broadway. Douglas, Barclay K., HWall St. Douglas, Walter C., 11 Wall St Doyle & Company, Frank, 120 Broadway Draper,Williams & Co., 53 State St., Boston, Mass. Dreyfus, Benton & Nicholas, 40 Wall St. Dreyfus, Walter, 40 Wall St. Driscoll, William V., 50 Broadway. Drummond, Howard, 50 Broadway. 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, William E., Ill Broadway Edmonds & Co., 1 Wall St. Edwards, A. G. & Sons, 409 N. 8th St., St. Louis, Mo. Einstein & Co., H. G„ 30 Broad St. Eisele, King & Studdiford, 9 Clinton St., Newark, N. J. Elsemann, Alexander & Co., 42 Broadway Eising, George J., 165 Broadway. Elsing, Robert E., 165 Broadway Elder & Co., James Bldg., Chattanooga, Tenn. Elias (Albert J.) & Co., 20 Broad St. Eliott & Co., Gilbert, 11 Broadway. Elkins, Morris & Co., Land Title Bldg., Phila delphia, Pa. Ellis, D. H. & Co., 120 Broadway Elsaesser, George G„ 47 Broad St. Ely & Son, 120 Broadway. Emanuel & Co., 50 Pine St. Emory, Freed & Co., 109 So. Third St., Phila delphia, Pa. Engel & Co., 120 Broadway Erdman & Co., 120 Broadway Eric & Drevers, 40 Wall St. Ernst & Company, 120 Broadway Estabrook & Co., 40 Wall St. Ettinger, Adrian, 70 Pine St. Evans, Stillman & Co., 14 Wall St. Fackert, William E., 120 Broadway. 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, 120 Broadway Farwell, Chapman & Co., 208 So. La Salle St., Chicago, Ill. 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 1681 NEW YORK STOCK EXCHANGE—Continued MEMBERS Federman & Filston, 25 Broadway. FKNNER & BEANE, 67 Broad St. FUor, Bullard & Smyth, 39 Broadway Finch, Wilson & Co., 120 Broadway Flncke, Reginald, 61 Wall St. Findley, William V. B.( 42 Broadway. Fine & Co.. W. A., 1 Wall St. Finucane, Wm., G. 120 Broadway Fisher, William, 39 Broadway. Fitzsimmons, Joseph M„ 115 Broadway. Flinn, George H., Jr., 9 E. 41st St. Fly & McFall, 73 Madison Ave., Memphis, Tenn. Ford, Donald, 115 Broadway. Forgie, David F„ 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. Fowler, Thomas P., 15 Broad St. Fox, O'Hara & Co., 60 Broad St. Francis, Bro. & Co., 4th and Olive Sts., St. Louis, Mo. Frank, A. R. & Co., 120 So. La Salle St., Chicago, Ill. Frank & Co., Charles A., 30 Broad St. Frank, Robert L., 25 Beaver St. Frankhauser, Charles A., 50 Broadway. Fransloli & Wilson, 120 Broadway Freeman, Joseph, 703 E. Olmos Drive, San Antonio, Tex. Fried & Company, Albert, 30 Broad St. Fried, Cohn & Co., 120 Broadway. Friede, Leo, 39 Broadway. Friedman, Brokaw & Samish, 711 St. Charles 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. Geddes, Gerald M., 61 Wall St. Gengler Bros., 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. 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 Jay, 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 Granberry & Co., 50 Broadway Granbery, Marache & Lord, 120 Broadway. Graves, Banning & Co., 14 Wall St. Graves, Gordon & Co., 1 Wall St. Gray & Wilinerding, 44 Wall St. Green, Ellis & Anderson, 100 Broadway Greene & Brock, 40 Wall St. Greenway, Gilbert C. Jr., 61 Broadway. Gregory, George V., 42 Broadway. Griffon & Sheridan, 20 Broad St. Gruntal & Co., 30 Broad St. Grymes, J. Randolph, Jr., 42 Broadway. Gude. Winmill & Co.. 1 Wall St. Gunn, Norman, 14 Wall St. Gutenstein & Lasdon, 25 Broad St. Guy, John J., 25 Broad St. Gwynne Brothers, 48 Wall St. Hackney, Hopkinson & Sutphen, 25 Broad St. Haff, Carroll B., 120 Broadway. Hagan, John Vincent, 42 Broadway. Halladay & Co., 14 Wall St. HALLE & 8TIEGLITZ, 25 Broad St. HALLGABTEN & CO., 44 Pine St. Halsted & Harrison, 1 Wall St. Hamershlag, Borg & Co., 39 Broadway Hano & Co., 120 Broadway Hardenbrook, Donald J., 67 Broad St. Hardy & Company, 11 Broadway Harriman & Keech, 11 Broadway Harrington & Co., 42 Broadway. Harris & Co., 40 Wall St. Harris, Burrows & Hicks, 135 So. La Salle St., Chicago, Ill. HARRIS, UPHAM & CO., 11 Wall St. Harrison, O’Gara & Co., 209 S. La Salle St., 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 A CO., 25 Broad St. Hazelhurst, Andrew, 111 Broadway. Hazlett & Burt, 215 Wheeling Steel Corp. Bldg., Wheeling, W. Va. Healy, James A., 40 Exchange Place. Heath, Royal V., 40 Wall St. Hecker & Co., Liberty Trust Bldg., Philadelphia, Pa. Hedberg & Koppisch, 1 Wall St. Hedberg, O. Viking, 1 Wall St. Hedge, Herbert T., 19 Rector St. Heidelbach, ickelheimer & Co., 49 Wall St. Hemmerle, Joseph, 111 Broadway. Hemphill, Noyes & Co., 15 Broad St. Henderson & Company, 40 Wall St. Henderson, Charles F. & Sons, 71 Broadway Hendrickson & Co., 30 Pine St. Hentz, H. A Co., 60 Beaver St. Herbek, Anton W., 47 Broad St. Herman & Co., 14 Wall St. Hernon, Pearsall & Co., 120 Broadway Herrick, Berg & Co., 40 Wall St. Herzfeld & Stern, 30 Broad St. Hess, Walter W., 30 Pine St. Hetherington, James A., II, 42 Broadway. Hewitt, Lauderdale & Co., 61 Broadway Hewitt & Satterfield, 39 Broadway. Hibbs, W. B., & Co., Hibbs Bldg., Washington, D. C. Higham, Neville G„ 30 Broad St. Hilbert, Condon & Bassett, 111 Broadway. Hill & Co., 2020 Carew Tower, Cincinnati, Ohio Hill, Charles W. & Co., 1 Wall St. Hilliard, J. J. B„ & Son, 419 W. Jefferson St., Louisville, Ky. Hinckley, Albert P., 1 Wall St. Hirsch, Lilienthal & Co., i65 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., 67 Broad St. 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. 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. Iselin, Ernest, 115 Broadway. Iseman, & Co., Harold M., 60 Beaver St. Jackson Bros., Boesel & Company, 26 Broadway JACKSON & CURTIS, 115 Broadway Jacobs, Stanley R., 30 Pine St. Jacobson & Co., Benjamin, 61 Broadway. Jacquelin & De Coppet, 47 Broad St. Jelke & Co., Frazier, 40 Wall St. Jenkins & Stevens, 120 Broadway. Jenks, Gwynne & Co., 65 Broadway Jennings, George C., 30 Broad St. Jesup & Lament, 26 Broadway Jewel, Norman J., 60 Broadway. Jewett, Newman & Co., 26 Broadway. Johnson & Durant, 61 Broadway. Johnson & Wood, 67 Broad St. Johnson, Leeds, 49 Wall St. Jones, C. Hyland, 20 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. Kastor, Robert N., 61 Broadway. 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. Kellogg, James Crane, 3rd, 50 Broadway. Kemp, George S., 911 E. Main St., Richmond, Va. Kempner, Alan H„ 120 Broadway. Kennedy & Co., 1 Wall St. Keppler, Emil A. C., 540 Morris Ave., Elizabeth, N. J. Kerngood, S. George, 120 Broadway. Kerr & Armstrong, 30 Broad St. Kerr (L. S.) & Co., 11 Wall St. Kevet, Ralph E., 50 Broadway. KIDDER 4c CO., A. M., 1 Wall St. KIDDER, PEABODY A CO., 17 Wall St. Kimball, Hervey L., 42 Broadway. King, Frank E., 50 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 A CO., 52-54 William St. La Branche, Arthur E^ 50 Broadway. La Branche, Geo. M. L., 50 Broadway. La Branche & Company, 50 Broadway Ladenburg, Thalmann & Co.. 25 Broad St. Laidlaw & Co., 26 Broadway Laird & Co., Nemours Bldg., Wilmington, Del. Laird, Bissell & Meeds, 120 Broadway Lamborn, Hutchings & Co., 37 Wall St. Lamm, Harold J., 24 Broad St. Lamson Bros. & Co., 141 W. Jackson Blvd. Chicago, Ill. Lanahan, W. W„ & Co., Calvert Bldg., Baltimore, Md. Langley & Co., W. C., 115 Broadway Lapham, Davis & Bianchi, 29 Broadway Lapham, Frank E. Jr., 120 Broadway. Larkin & Co., S. P., 30 Broad St. Lauer & Co., William E., 50 Broadway Lawrence & Sons, Cyrus J., 115 Broadway Lazard Freres & Co., 19 Nassau St. Leavitt, Phillip B., 39 Broadway. Lee, Cornelius S., Jr„ 52 Wall St. Lee. Higginson &, Co.. 37 Broad St. Lehman Bros., 1 William St. Leopold & Co.. James M., 70 Wall 8t. Levey, David E., 25 Broad St. Levi, Frank S., 61 Broadway. Levis, Carl, 37 Wall St. Levy & Co., Robert J., 165 Broadway Lewinson & Co., Sydney, 30 Pine St. Lewis (Chas. E.) & Co., 601 Second Ave., South Minneapolis, Minn. Lewisohn & Sons. Adolph, 61 Broadway Lewisohn, Frederick, 595 Madison Ave. Libaire & Company, 37 Wall St. Liberman, Herman N., Jr., 25 Broad St. Linburn, Ernest A., 25 Broad St. Lipper, Arthur, Jr., 120 Broadway. Lipscher, Milton A., 42 Broadway. Livingstone, S. R. & Co., 1 Wall St. Lloyd & Co., Ill Broadway Lober Brothers & 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. Low, Arthur J., 29 Broadway. Lowell, James Russell, 30 Broad St. Lowitz E. & Co.. 29 Broadway. Luber & Co., 50 Broadway. Luke, Banks & Weeks, 1 Wall St. Lyon & Co., W. Wallace, 120 Broadway Lyons, W. L., & Co., 231 S. 5th St., Louisville, Ky Mabon & Co.. 1 Wall St. MacArthur, Malcolm, 47 Broad St. MacCorkle, Robert C., 48 Wall St. MacDonald & Co., 234 Real Estate Tr. Bldg . Philadelphia, Pa. Mackay & Co., 14 Wall St. MacKinney & Weicker, 1 Wall St. MACKUBIN, LEGG A CO., 222 E. Redwood St., Baltimore, Md. MacMeekin & Co., 123 S. Broad St., Philadelphia, 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., 30 Broad St. Marks, Eric H„ 1 Wall St. Marks, Laurence M. & Co., 49 Wall St. Marks, Laser & Co., 231 S. La Salle St., Chicago, Marquis & Co., L. J., 39 Broadway Marshall. Campbell & Company. 61 Broadway Masten, A. E„ & Co., First National Bank Bldg., Pittsburgh, Pa. Maxwell, Eugene L., 25 Broad St. Mayer, Clinton 0. Jr., 120 Broadway. Mayer & Company, Jos. G , 74 Trinity Place. Mayer & Hart, 111 Broadway Maynard, Oakley & Lawrence, 61 Broadway McCarthy, Daniel F., 52 Broadway McClave & Co., 67 Broad St. McClellan, George R„ 40 Wall St. McCreery, Samuel, & Co., 123 S. Broad St. Philadelphia, Pa. McCutcheon, McKelvy & Durant, Union Trust Bldg., Pittsburgh, Pa. McDermott & Co., Peter P.. 39 Broadway McDermott, David H., Room 1043,25 Broadway. McDermott, William P., 39 Broadway. McDonnell & Co., 120 Broadway. McEneaney, Edward V., 47 Broad St. Farther Information on firm* appearing In bold face type will be found la the selected Ust of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1682 NEW YORK STOCK EXCHANGE—Continued MEMBERS McGeoch, Arthur N., Jr., 61 Wall St. McGoldrlck, Henry A., 50 Broadway. McGough & Schuman, 61 Broadway. McGregor, Irvine & Co., 1219 Chapline St., Wheeling, W. Va. McIntyre, Hugh B., 50 Broadway. McKay, N. Bruce, 42 Broadway. McKenna, Arthur J., 47 Broad St. McKenna. James. 40 Exchange Place. McKenzie, Joseph E., 20 Broad St. McKeon, Daniel Manning, 71 Broadway. McKeon, Robert Manning, 71 Broadway. McLaughlin, Joseph A., 50 Broadway. McLean, James, 120 Broadway. McMannus & Mackey, 15 Broad St. McVickar, E. S. J„ 2 Wall St. Meehan & Co., M. J., 30 Broad St. Melady & Co., John, 141 Broadway Mellick, J. Hartley, Jr., 50 Broadway. Mellon, Charles Henry, 42 Broadway. Mensch, Bernard L., 29 Broadway. Mensch, Milton, 39 Broadway. Miller & Dodge, 30 Broad St. Miller & Lummis, 50 Broadway. Miller,Frank A., 25 Broad St. Mindermann, Frederick H., 29 Broadway. Minton & Co.. D. M., Ill Broadway Mitchell, Whitmer, Watts & Co., 14 Wall St. Mitchell, Hutchins & Co., 231 S. La Salle St., Chicago, Ill. Montgomery, Robert Craig, 111 Broadway. Montgomery, Scott & Co., 120 Broadway. Moore & Co., D. T., 50 Broad St. Moore, J. Carson, 83 Westminster Rd., Garden City, L. I., N. Y. Moore, Leonard & Lynch, 111 Broadway. Moore, McLean & McDermott, 200 S. LaSalle St., Chicago. Moore & Schley, 100 Broadway. Moors & Cabot. Ill Devonshire St., Boston, Mass. Morgan, & Company, Henry, 42 Broadway MORGAN & CO., J. P., 23 Wall St. Morgan, Morgan G., 30 Broad St. Morris & Co.. 1 Wall St. Morris, A. W., & Co., 325 W. 8th St., Los Angeles, Calif. Morris & Smith, 120 Broadway Morris, William & Co., 52 Wall St. Morrison, H. Terry, 61 Broadway. Morse, Anthony W., 1 Wall St. MOSELEY & CO., F. S., 14 Wall St. Muir & Co., John .39 Broadway. Munds, Winslow & Potter, 40 Wall St. Munn & McCauley, 30 Broad St. Murfey, Blossom & Co., Guardian Bldg., Cleve land, Ohio. Murphy, C. H. & Co., 40 Wall St. Murphy, G. M.-P. & Co.. Ill Broadway Myles, John L„ 47 Broad St. Nammack, Jerome W., 40 Wall St. Nash & Co., Ill Broadway. Naumburg & Reynolds, 115 Broadway. Neddermeyer, August, 1 Wall St. Neilson & Co., C. F., 20 Broad St. Neilson, C. Frederic, Jr., 20 Broad St. Neilson, Louis, 120 Broadway Nelson, Palen, 1 Wall St. Neuberger, Harry H., 60 Beaver St. Neuhut, Plohn & Co., 60 Broad St. Neumoegen, Manfred L., Ill Broadway. Newbold’s, W. H„ Son & Co., 1517 Locust St. Philadelphia, Pa. Newborg & Co., 30 Broad St. Newburger, Loeb & Co., 40 Wall St. Newcombe, Chas. M., Ill Broadway. Newhard, Cook & Co., 400 Olive St., St. Louis, Mo. Newman Bros. & Worms, 25 Broad St. Newsome, John C., 50 Broadway. Newton, Robert P., Ill Broadway. Nick, J. F. & Co., 120 Broadway Nicolaus, Louis J., 314 N. Broadway, St.Louis.Mo. Nims, Arthur V., Ill Broadway. Noble, H. G. S., 42 Broadway. Noel, Berman & Langley, 67 Wall St. Norris & Kenly, 208 S. La Salle St., Chicago, Ill. Norris, Donald Lee, 61 Broadway. Noyes, David A., & Co., 208 S. La Salle St., Chicago, Ill. Noyes, Julius W., 1 Wall St. Nugent & Igoe, 11 Commerce St., Newark, N. J. Nuttall, R. V., & Co., Park Bldg., Fifth Ave. & Smithfield St., Pittsburgh, Pa. O'Brien, Esmonde F., 15 Broad St. O’Brien, Richard W., 15 Broad St. Oliphant & Co., Jas. H„ 61 Broadway. Onativia, J. V.Jr., 42 Broadway. O’Neill & Co., Grover, 20 Exchange Place Orr & Tuthill, 60 Broadway Orvis Brothers & Co., 60 Broadway. Orvis, Schuyler A., 120 Broadway. O’Sullivan, James J., 20 Broad St. Ottimer, Jack C., 30 Broad St. Ottley, Gilbert. 165 Broadway Paine, Webber & Co., 25 Broad St. Parker, Alfred P., 44 Beaver St. Parker, Dale, 30 Rockefeller Plaza. 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„ 120 Broadway. Perkins, Erickson & Co., Powers Bldg., Rochester, N. Y. Pflugfelder, Bampton & Rust, 61 Broadway. Pforzhelmer & Co., Carl H., 25 Broad St. Pierce & Co., E. A., 40 Wall St. Pierce, Allen A., 40 Wall St. PiUot, Andre P., 48 Wall St. Pinkerton & Whitney, 50 Broadway. Piper, Jaffray & Hopwood, 115 S. 7th St., Minne apolis, Minn. Post & Flagg, 49 Broad St. Potter & Co., E. N„ 26 Broadway. Potter, Earl S., 120 Broadway. Potts, William B. Jr., 40 Wall St. Potts, William Rockhill, 47 Broad St. Pouch & Co., 1 Wall St. Prentice & Brady, 25 Broadway. Prescott, Biggar & Co., 101 Guardian Bldg., Cleveland. Ohio. PRESSPRICH & CO., R. W., 68 William St. Price, Geo. E. & Co., 120 Broadway. Prince, F. H., & Co., Court & Washington Sts., Boston, Mass. Proctor, Cook & Co., 15 Broad St. Pryibil, Paul, 120 Broadway. Purcell, Edward A & Co., 39 Broadway. Purdy, Strother B„ 42 Broadway. Putnam & Co., 6 Central Row, Hartford, Conn. Pyne, Kendall & Hollister, 60 Wall St. Quincey & Co., Chas. E., 24 Broad St. Quinn, Walter A., 50 Broadway. Raebeck, William, 25 Broadway. Rafferty, Paul F., 120 Broadway. Raiss, & Co., Carl, 256 Montgomery St., San Francisco, Calif. Raschen, John W., 42 Broadway. Ray, Joseph B., 50 Broadway. Rayner, Thomas, 42 Broadway. Redmond & Co., 44 Wall St. Reeves, Edward J., 61 Broadway. Reilly, Wm. B., 50 Freeman St.. Newark, N. J. Reimer, Terry & Co.. Ill Broadway Reiner & Co., Milton E., 120 Broadway Reinholdt & Gardner, 400 Locust St., St. Louis, Mo. Renson, Joseph H., 19 Rector St. Reynolds & Co., 120 Broadway. Reynolds, Fish & Co., 120 Broadway. Rheinstein, Sidney, 14 Wall St. Rhoades & Co., 30 Pine St. Rhodes, Edmund, 30 Broad St. Rhodes, Gilbert L„ 120 Broadway. Rice, Edward J., 11 Broadway. Rich, Clark & Brady, 39 Broadway Richard, C. B. & Co., 44 Beaver St. Richards, Fred L., 42 Broadway. Richards, Hume & Heffernan, 49 Wall St. Righter, Walter L., 63 Wall St. Ristlne & 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, Laurance S., 30 Rockefeller Plaza. Roesler, Walter, 50 Broadway. Rogers, Frank C„ 111 Broadway. Rogers, Wilbur H., 120 Broadway. Rollins, Ernest C„ 52 Broadway. Rollins, G. Edward, 40 Wall St. Rooke, Robert L., 40 Wall St. Rose, Luke H., 14 Wail St. Rose, Raymond S., 30 Broad St. Rose, Reginald P., 42 Broadway. Rose, Cammann & Co., 120 Broadway. Rosenau, Walter N., 1 Wall St. Rosenbaum, Francis F., 1 Wall St. Rossbach, Laurence B.. 42 Broadway. Rossmann, 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. Sabater, William F., 42 Broadway. Sackett, Ray P. & Co., 11 Broadway. Sagar, W. S., & Co. 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. Samuel & Co., Ralph E., 115 Broadway. Sargeant, Malo & Co., Equitable Bldg., Denver, Colo. Sartorius & Smith, 61 Broadway. Scarritt & Bardach, 120 Broadway Schafer Bros., 1 Wall St. Schafer, Myron, 30 Pine St. Schatzkin, Loewi & Co., 30 Broad St. Scheftel, Herbert, 42 Broadway. Schiff & Young, 15 Broad St. Schirmer, Atherton & Co., 79 Milk St., Boston, Mass. Schoellkopf & Co., 70 Niagara St., Buffalo, N. Y. Scholl, & Co., T. F„ 50 Broad St. Scholle Brothers, 40 Wall St. Scholle, William D„ 40 Wall St. Schreiber, Otto A., 115 Broadway. Schreiber. Pierrepont D.. 50 Broadway. Schubert, George C., 40 Wall St. Schwabacher & Co., 600 Market St., San Fran cisco, Calif. Schwabacher, Herman S., 25 Broad St. Schwartz, Herman, 39 Broadway. Schweppe, E. Poynter, 39 Broadway. Scott & Stringfellow, P. O. Box 1575, Richmond, Va. Scott. Stuart Jr., 50 Broadway. Scranton, Chas. W.t & Co., 209 Church St., New Haven, Conn. Seaman, Henry Brevoort, 42 Broadway. Seaman, Joseph H., 1 Wall St. Seasongood & Haas, 63 Wall St. Seeley, Nathaniel S., 71 Broadway. SELIGMAN & CO., J. & W., 54 Wall St. Seligman, G. & A., 42 Broadway. Seligman, James, 30 Pine St. Seligman, Julius, Drawer 38, Station A., San Antonio, Tex. Seliesbere & Co., 50 Broad St. Seskis. Jack Y., 50 Broad St. Sesselberg, Arthur W., 120 Broadway. Shaskan Brothers, 30 Broad St. Shaskan & Co., 39 Broadway Shaw, George W., Ill Broadway. Shea, Frank A., 67 Broad St. Shea, James F. & Co., 160 Broadway. Shearson. Hammill & Co., 14 Wall St. Shethar, John B., 120 Broadway. Shields & Company, 44 Wall St. Shields, Robert McC., 61 Wall St. Shippee & Rawson, 111 Broadway. Shuman & Co., 25 Broad St. Sichel, Eugene A., 120 Broadway. Sidenberg, George M„ 25 Broad St. Siegel, Isaac, 61 Broadway. Silberberg, D. H. & Company, 63 Wall 8t. Simmons, Cheston, 47 Broad St. Simmons & Co., E. H. H., 52 Broadway. Simmons & Peckham, 49 Broad St. Simmons, Zalmon G., Jr., 67 Broad St. Simon. I. M„ & Co.. 315 N. 4th St., St. Louis, Mo. Simon & Co., Richard L , 120 Broadway. Simonds, Robinson, 111 Broadway. Sincere, Charles & Co., 231 S. La Salle St., Chleago, Ill. Singer, Deane & Scribner, Union Trust Bldg. Pittsburgh, Pa. Sisto & Co., J. A., 68 Wall St. Slater, Robert V., Ill Broadway. Slaughter & Co., A. O , 14 Wall St. Slepack & Co.. 25 Broadway Smith, Barney & Co., 14 Wall St. Smith, Bernard E., 11 Wall St. Smith, Bert V., 20 Broad St. Smith, E. E. T„ 14 Wall St. Smith, Frank & Co.. 120 Broadway Smith, Herbert L., Jr., 30 Pine St. Smith, Kenneth R., 61 Broadway. Smith, Lyman D., 61 Broadway. Smith, Ralph C., 115 Broadway. Smith & Co., Wilbur F„ 40 Wall St. 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., 33 State St., Boston, Mass. Sparks, J. W. & Co., 50 Broadway. Spear & Leeds, 25 Broad St. Sperber, Benjamin, 25 Broad St. Spero & Co., 120 Broadway SPEYER & CO., 24-26 Pine St. Speyer, Alexander C., Jr., 61 Broadway. Spielman, David B., 39 Broadway. Spingarn & Co., Leopold, 29 Broadway. Sprague, Raymond, 39 Broadway. Sprayregen & Co., 39 Broadway. Stackpole & Buchanan, 120 Broadway. Stafford & Co., 20 Exchange Place. Stamm & Co., A. L., 120 Broadway Stanley, Janeway & Howe, 40 Wall St. Stanton & Co., 52 Wall St. Starkweather & Co., Ill Broadway. Starr, William T., 61 Broadway. Stebbins, Ernest Vail, 42 Broadway. Stein, Brennan & Co., 9-11 S. LaSalle St., Chicago, Ill. STEIN BROS. & BOYCE, 39 Broadway. Stein, Jules C., 430 N. Michigan Ave., Chicago. Ill. Steiner, Rouse & Company, 25 Broad St. Sterling, Grace & Co., Ill Broadway. Stern & Co., Allison, 25 Broad St. Stern Brothers, 39 Broadway STERN, KEMPNER & CO., 14 Wall St. Sternberger, Henry S„ 1 Wall St. Stevens & Legg, 120 Broadway. Stevens, Byam K., 120 Broadway. Stewart, Charles E., 63 Wall St. Stewart. John A., 3rd, 120 Broadway. 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. Further Information on firms appearing In bold face type will be found In tbo selected list of Investment Dealers following bank list In each city. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCK EXCHANGE MEMBERS 1683 NEW YORK STOCK EXCHANGE—Continued Straus, Ferdinand A., 50 Broadway. Straus, Jack O., 39 Broadway. Strauss, Max, 120 Broadway. Strauss, Phillips & Co., 120 Broadway Stroock, Stephen J. & Co., 1 Wall St. 8truthers & 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 Wall St. Talbot & Company, 11 Wall St. Talcott, Potter & Co., 26 Broadway Tanburn, Stephen A., 50 Pine St. Tate & Hays, 71 Broadway Taylor & Delany, 50 Jiroadway 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. Tlfft Brothers, Third National Bank Bldg., Springfield, Mass. TIMMINS & COMPANY, J. R., 61 Broadway. Tobey & Co., 25 Broadway. Tobey & Kirk, 52 Wall St. Tobias, W. Eldridge, 50 Broadway. Toerge & Schlffer, 15 Broad St. Tompkins, Frederic P., 47 Broad St. Toolin & Co., 14 Wall St. Townsend, Anthony & Tyson, 30 State St., Boston, Mass. Townsend, Graff & Co., 29 Broadway. Trask & Co., Spencer, 25 Broad St. Trask, John J., 47 Broad St. 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. MEMBERS Tweedy. Edmund R„ 25 Broad St. Ullman, William, 50 Pine St. Ulman Bros. & Baldwin, 1 Wall St. Untermeyer, Milton F., 60 Beaver St. Untermeyer, Milton F., Jr., 60 Beaver St. Vachlo, Frank A., 42 Broadway, van Daell, Paul A. H.. 50 Broadway. Van Roalte, Arthur, 29 Broadway. Vaughan & Company, 50 Broadway Vercoe & Co., Huntington Bank Bldg., Columbus, Ohio. Vernon, Miles H., 1 Wall St. Vesce, Anthony P., 15 Broad St. Vesce, Joseph V., 71 Broadway. Vietor, Common & Co., Marine Trust Bldg., Buffalo, N. Y. Vilas & Hickey, 49 Wall St. Vogel, Arthur J., 30 Pine St. Wadsworth, Willard, 1 Wall St. Wagner, Stott & Co., 19 Rector St. Wainwright & Co., H. C„ 60 State St., Boston, Mass. Wainwright, Luce and Willetts, 14 Wall St. Waldheim, Platt & Co., 308 N. Eighth St., St. Louis, Mo. Walker Brothers, 71 Broadway Walker A Co., G. H„ 1 Wall St. Walker A Sons, Joseph, 120 Broadway Waller A Co.. 61 Broadway Walston & Co., 265 Montgomery St., San Francis co, Calif. Warburton, Wm. John, 60 Broadway. Ward, Charles J., 120 Wall St. Ward. Gruver A Company, 40 Exchange Place. Wardle, H. Allen, 40 Wall St. Ware A Keelips, 19 Rector Street Watling, Lerchen A Hayes, 334 Buhl Bldg., Detroit, Mich. Watson, Armstrong A Co., 24 Broad St. Watson, Charles F. Jr., 67 Broad St. Watson A Co., T. L., 40 Wall St. WATSON & WHITE, 149 Broadway Weed, Hall, Berndt A Co., 40 Wall St. Weekes, Harold H„ 14 Wall St. Welcker A Co., 1 Wall St. Well, Arthur C„ 25 Broad St. Weil, Charles S., 30 Broad St. Weingarten A Co., 29 Broadway. Weisl A Co., Edwin, 111 Broadway. Welch, Francis W., 25 Broad St. Welles. C. E. A Co., 25 Broadway. WELLINGTON & CO., 120 Broadway Wenman A Co., 1 Wall St. Wertheim, Albert, 120 Broadway. WERTHEIM & CO., 120 Broadway Westheimer A Co., 324 Walnut St., Cincinnati, Ohio. Whaley, Frederick C., 11 Wall St. Whaley, Potter A Finucane, 120 Broadway. White, Frederic N. Lawrence. 47 Broad St. White, Leonard D., 20 Exchange PI. White, Weld A Co., 40 Wall St. Whitehead, Edward R„ 52 Broadway. Whitehead, Edward R., Jr., 52 Broadway. Whltehouse A Co., 1 Wall St. Whiteley, Aubrey S„ 1 Wall St. Whitman, Herbert S., 47 Broad St. Whitney A Co., Richard, 15 Broad St. Whitney A Elwell, 30 State St., Boston, Mass. Whitney A Sons, H. N„ 49 Wall St. Wilcox A Co., 14 Wall St. Wilder, George H„ 1 Wall St. Willett, George, 61 Broadway. Williams, Blair S. A Co., 25 Broad St. Williams A Co., Clark, 160 Broadway Williams, Kenneth R., 30 Pine St. Williston A Co., J. R„ 115 Broadway. Wilson, Alanson H. R„ 2 Wall St. Wilson, William L., 71 Broadway. Winslow A Douglas, 11 Wall St. Wlnthrop, Robert A Co., 48 Wall St. Wlnthrop, Mitchell A Co., 26 Broadway Wisner, Charles H., 40 Exchange Place. Witter, Dean A Co., 45 Montgomery St., San Francisco, Calif. Wood, A. C., Jr. A Co., 511 Chestnut St., Phila delphia, Pa. Wood, Low A Company, 63 Wall St. Wood, Strathers A Co., 20 Pine St. Wood, Trubee A Co., MAT Bldg., Buffalo, N. Y. Wood, White A 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. A Co., 30 Broad St. Wright A 8exton, 1 Wall St. Wurts, Dulles A Co., 1416 Chestnut St., Phila delphia, Pa. Wyckoff, Edward G., A Co., 1528 Walnut St., Philadelphia, Pa. Wyle, John J., 24 Broad St. Yarnall A Co., 1528 Walnut St., Philadelphia, Pa. Young, Charles F., 42 Broadway. Young, T. Sloan, 14 Wall St. Zeltner, Charles F., 115 Broadway. Zucker, Arthur A., 1 Wall St. Zuckerman, Henry A Co., 52 Broadway OHIO CINCINNATI STOCK EXCHANGE (208-209-210 Dixie Terminal Bldg.) Officers: W. D. Gradison, President: J. B. Reynolds, Vice-President; S. F. Stephenson, Treasurer; Charles H. Steffens, Jr., Secretary SCHEDULE OF RATES OF COMMISSION (March 1, 1936) 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 7Hc 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, 8elling 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.) Selling 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 o , 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 8elling at 50c but under $1.00............ Not less than 3c also apply to Aluminum Industries, American Laundry Machinery, Eagle Selling at $1.00 but under $5.00________ Not less than 5c Picher Lead, U. S. Playing Card and Waco Aircraft, which are traded in Selling at $5.00 but under $10.00____ Not less than 7J^c 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 MINIMUM COMMISSION ON RIGHTS AND WARRANTS Selling at $1.00 but under $5.00.............................................Not less than lc 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 2J^c ef $5.00 or more, the minimum Commission shall be not less than $1.00. A transaction which involves under $5.00, the minimum Commission shall CLEARANCE BUSINESS 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, (hares. 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. Gibson, R. H., 235 Scott St., Covington, Ky. Lowenthal, Ben, W. D. Gradison & Co., 408 Dixi Gradison, W. D. & Co., 408 Dixie Terminal Bldg. Terminal Bldg. ASSEL, JOS. H., 218 Provident Bank Bldg. Cranberry & Co., 50 Broadway, New York, N. Y. Lyons & Co., W. L., St. Paul Bldg. BALLINGER & CO., Union Trust Bldg. Grau, J. J., & Co., 1331 Union Trust Bldg. MURRAY, C. C. & CO., Union Trust Bldg. Bartlett, Benj. D. & Co., 313 Vine Street. Greene & Brock, 301 Third Nat’l. Bk. Bldg., Reiter & Co., C. H., Union Trust Bldg. Barth Co., J. L., Dixie Terminal Bldg. Dayton. Stephenson & Potter, Union Central Bldg. Bruner, George, 3010 Observatory Rd. Harvey, M. C., 216 Superior Ave., N.E., Cleveland. Thurnauer, Max, First Nat’l. Bk. Bldg. Chambers & Co., J. D., Union Trust Bldg. Hill & Co., Carew Tower. Tyree, Victor L„ 2324 Park Ave. Cohle, H. B. & Co., 711 Union Trust Bldg. Horan, R. J., Union Trust Bldg. Van Lahr, Leo. Ed., 415 Provident Bk. Bldg. Cree, Ellwood H„ 314 W. 4th St., Covington, Ky. Hutton, W. E. & Co., First National Bank Bldg. WEIL, ROTH & IRVING CO., THE, 217 Dominick & Dominick, 115 Broadway, New York. Dixie Terminal Bldg. IRWIN BALLMAN CO., THE, First National Duble, Dennison, 403 First Nat’l. Bldg. Westerfield, Ralph, Union Trust Bldg. Bank Bldg. Dunlap, T. Oliver, Mercantile Library Bldg. Westheimer & Co., First National Bank Bldg. Eustis, Geo. & Co., 810 Fourth National Bank Bldg. Jaspers, J. G., First Nat’l. Bk. Bldg. Westheimer, E. J., W. L. Lyons & Co., Unios Fox & Co., W. E., Fourth Nat’l Bk. Bldg. Lepper, A. & Co., First National Bank Bldg. Trust Bldg. Portlier 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 1684 CLEVELAND STOCK EXCHANGE Officers: Gordon S. Macklin, President; Percy W. Brown, Vice-President; C .B. Whitcomb, Secretary; Prices Stocks Selling Under $1 $ 1 10 25 50 125 300 500 David G. Skall, Treasurer; Wm. J. Perry, Asst. Secretary. SCHEDULE OF COMMISSION RATES Commission per Share 3c Minimum commission $1.00 and up toand including 9%......................................................... 7%c and up toand Including 24%...................................................... 16c and up to and Including 49 %................................ -................. . 25c and up toand including1247-1 __.................................................. 30c and up toand including299 %............................................... 50c and up to and including 499 %........ ......... .......................-......... 75c and over_________________________ ________ ___________ $1.00 Minimum commission $2.00 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., 1937 Union Trust Bldg. Butler, Wick & Co., Union National Bldg., Youngstown Clark & Co., 981 Union Trust Bldg. •Collin. Norton & Co., Gardner Bldg., Toledo, O. Curtiss, House & Co., 1201 Union Trust Bldg. Fenner & Beane. Leader Bldg. Gentsch, Chas. D. & Co., 1746 Union Trust Bldg. MEMBERS GILLIS, WOOD & CO., 1585 Union Trust Bldg. Will S. Halle & Co., 511 Swetland Bldg. Hawley, Huller & Co., 1436 Union Trust Bldg. Hayden, Miller & Co., 1250 Union Trust Bldg. Hornblower & Weeks, 1040 Union Trust Bldg. Jackson & Curtis, 1737 Union Trust Bldg. Kraus, Cunningham & Co., 1846 Union Trust Bldg. Murch & Co. Maynard H., 1186 Union Trust Bldg. Murfey, Blossom & Co., 901 Guardian Bldg. Paine, Webber & Co., 1111 Terminal Tower Bldg. E. A. Pierce & Co., 215 Cuyahoga Bldg. (Associate Members*) Ryan & McManus, 39 Broadway, N. Y. Schultz & Co., L. J., 736 Union Tr. Bldg. David G. Skall & Co., 2031 Union Trust Bldg. W. S. Snyder & Co., 2027 Union Trust Bldg Soucy, Swartswelter & Co., 1704 Central National Bank Bldg. Stanley & Co., 1740 East Twelfth St. •Stevenson, Vercee, Fuller & Lorenz, Huntington Bank Bldg., Columbus, O. ♦Vercoe & Co., Huntington Bk. Bldg., Columbus. Wellsted, Macklin & Co., 1280 Union Trust Bldg. Witt, John P. & Co., 2008 Union Trust Bldg. York, Geo. W. & Co., 1001 Swetland Bldg. PENNSYLVANIA PHILADELPHIA STOCK EXCHANGE Officers: Howard Butcher. Jr., President; B. Frank Townsend, Jr„ Vice-President; Frank C. Matthews. Secretary; Frank E. Baker, Treasurer; John R. Huhn, Jr„ Assistant Secretary and Assistant Treasurer; Thomas B. Gravatt. Assistant Secretary, Assistant Treasurer and Auditor. COMMISSION RATES (March 1, 1937) Between Members NON-MEMBER COMMISSION RATES ON STOCKS AND SUBSCRIPTION RIGHTS BONDS Minimum Selling Price Per Share Commission Wben Cleared 8 Rate Per Share Not less than eighty cents for each $1000 bond. i/?56nf$1 0.1c pershare 1/128 of $1........................ ........................ 0.15c per share When Not Cleared Fromi/64of$Yto'i7f6of$i:::::::----------------o.5C per share Not less than fifty cents for each $1000 bond. From 3/32 of $1 to 7/32 of SI—---------- -------------------- l-£c per share From M of $1 to 15/32 of $1............ .......... ......... .............. l -5c per share STOCKS From % of $1 to 31/32 of $1-------------------------------- --- 3.0c per share When Cleared From $1 to $1%..................... “,0c per share per share Price Rate Per Share From $2 to $2%............................... .................... -...............6.0c share Selling under 50c...................... ....... ..............................--As mutually agreed From $3 to $3 >8.................................................................... ' ^ per per share Selling at 50c and above, but under $1.00____________Not less than%c From $4 to $4%...................... ..............-......... ................... 5'X® per share Selling at $1.00 and above, but under $10.00_......... Not less thanl%c From $5 to $57-6...........-.................. ....... .............—............"-60 per share Selling at $10.00 and above, but under $50.00________ Not less than 5c From $6 to $6 %................... iV'cvS per share Selling at $50.00 and above, but under $100.00_______ Not less than 6c per share Selling at $100.00 and above______________ Not less than 7c From $8 to $8%........................................ ......... .................. per share When N ot Cleared per share Price Rate Per Share share From $20 to $29%....................... .........................................2X X° per Selling under 50c. ..........................................................—As mutually agreed per share Selling at 50c and above, but under $1.00.............. Not less than%c per share Selling at $1.00 and above, but under $10.00--------------Not less than lc per share Selling at $10.00 and above, but under $100.00_______ Not less than 2c per share Selling at $100.00 and above............... Not less than2%c From $70 to $79%......................-------------------- ----------- 20.0c per share STOCK SUBSCRIPTION RIGHTS From $80 to $89%............................ ....................-.............21.0c per share From $90 to $99%------------42.0c per share When Cleared For each additional $10 or fraction thereof ------------- l.oc additional Price Rate Per Share Minimum Charge Per Transaction—Notwithstanding the foregoing, Selling under 50c---------------------- ------------------------- As mutually agreed when the amount involved in a transaction is less than $1, the commission Selling at 50c and above, but under $1.00___________ Not less than l%c shall be as mutually agreed; when the amount involved is $1 or more but less Selling at $1.00 and above, but under $5.00_________ Not less than 2c than $50, the minimum commission shall be not less than 6% of such amount Selling at $5.00 and above, but under $10.00____________ Not less than2%c or $1, whichever is greater; and when the amount involved is $50 or more, Selling at $10.00 and above-----------------------------------Not less than 4c the minimum commission shall be not less than $3. When Not Cleared BONDS . „ Price Rate Per Share Per $1000 of principal (except as stated in Article XXVI, Section 2 (d) Selling under 50c_______ ____ ______ _____________As mutually agreed of the Constitution): , , „ .,__ Selling at 50c and above, but under $1.00_____ _____ Not less than %c Under $10..-............-.........---....................................... Not less than 75c Selling at $1.00 and above, but under $5.00.-........ Not less than %c $10 and above’but under $166------------------------------ Not less than $1.25 Selling at $5.00 and above, but under $10.00________ Not less than lc and above ______ __ __ ___ ___________—Not less txi3.ii $^.50 Selling at $10.00 and above-.-____ ________ ____ ...Not less than 2c Exception to Commission Rates, effective January 20, 1938: The minimum commission on any transaction between members shall be Members are permitted to charge a commission equal to that in iorce in 25c. any dual market in which a security is traded. MEMBERS Embick, Paul A., 518 Stock Exchange Bldg. Bryan, Penlngton & Colket, 123 S. Broad St. Ashton, Augustus Trask, 1501 Finance Bldg. Emory, Freed & Co., 109 S. 3rd Street. Bryiawski, Edward L., 1611 Walnut St. Buckley Brothers, 1529 Walnut St. Fearon, Charles. 511 Chestnut St. BACHE, J. S„ & CO,, Pennsylvania Bldg. Butcher & Sherrerd. 220 Real Estate Trust Bldg. Flynn, Bernard J., 46 No. 40th St. Carstairs & Co., 1610 Walnut St. Fox, Geo. S., & Sons, 1600 Girard Trust Bldg. Baker, Weeks & Harden. Commercial Trust Bldg. Cherry, Robert, Jr., 113 So. Fifth St. French, E. W„ & Co.. 123 S. Broad Street. Banks, Clayton F„ 123 So, Broad St. Clark, E. W., & Co., 16th and Locust St. Fuller. W. A. M.. & Co., 1510 Chestnut Street. Barclay, Henry C., 123 So. Broad St. Clark, Kenneth R., 1500 Walnut St. Barclay. Moore & Co.. 123 S. Broad Street. Garber, F. W., & Co.. 115-117 S. 5th Street. Clucas, (E. W.) & Co., 70 Pine St., New York, Bayuk Brothers, Packard Bldg. Gayley, McCreary & Co.. 817 Packard Bldg. N. Y. Bean. Chas. H„ & Co., 1528 Walnut Street. Gilmore, Arthur C., Provident Trust Bldg. Conklin. Roscoe C, 518 Stock Exchange Bldg. Bernstein, Harry L„ 518 Stock Exchange Bldg. Glendinning, Robt.. & Co., Packard Bldg. Dackerman & Waber. 517 Stock Exchange Bldg. Biddle & Co., Moncure, 1520 Locust Street. Goldman, Harold C., 811 Stock Exchange Bldg. Davis, Robert Hare, 824 Stock Exchange Bldg. Biddle. Whelen & Co., 1606 Walnut St. Graff, Frank M„ 1508 Walnut St. deCoursey, Stephen H., 44 N. 4th St. Bioren, John S„ 1508 Walnut Street. Greene, Norman J., Berwyn, Pa. DeHaven & Townsend. 1513 Walnut Street. Greenwood, Herbert T., 518 Stock Exchange Bldg. Diffenderffer & Co., 1611 Walnut Street. BIOREN & CO„ 1508 Walnut Street. Greer, Thomas Raymond, 309 Otis Bldg. Dixon, Fitz Eugene, 1411 Chestnut St. Guarniery, Robert Y., 518 Stock Exchange Bldg. Donoghue, Daniel C., Jr., 123 S. Broad St. Boenning & Co.. 1606 Walnut Street. Hammitt & Co., 602 Stock Exchange Bldg. Brown, Howard B., 1616 Walnut Street. Hamstrom & Co., 215 Real Estate Trust Bldg. BREXEL & CO., 15th and Walnut Streets. Brown (Vernon C.) & Co., 71 Broadway, New Harper, James B., Stock Exchange Bldg. York, N. Y. Drummon, Chester W„ 626 Stock Exchange Bldg. Harrison & Co., 123 8. Broad Street. Hauberger, George H.. 609 Stock Exchange Bldg. Eastman, Dillon & Co., 1506 Walnut St. BROWN BROTHERS HARRIMAN & CO., Hecker & Co., Liberty Trust Bldg. Elkins. Morris & Co.. 305 Lana Title Bldg. 1531 Walnut 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 1685 PHILADELPHIA STOCK EXCHANGE—Continued Hibbs (W. B.) & Co., HiDbs Bidg., 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, Qwynne & 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, Blssell As Meeds. 1528 Walnut Street. Lawson, W. L„ Union League. Lee, John K„ 1411 Walnut St. Lilley & Co., 1520 Packard Bldg. Lippincott, Richard, 220 S. 16th St. Loeb. Oscar, 824 Stock Exchange Bldg. Louchheim, Walter C., 30 Pine St., New York, N. Y. MacDonald & Co., 234 Real Estate Trust Bldg MacMeekin & Co.. 123 S. Broad Street. Makiver, J. S. P., 1510 Chestnut St. Malls, David S., 805 Land Title Bldg. Masland, Fernon & Anderson, Packard Bldg. Matthes, Percy E., 305 Land Title Bldg. Matthews, Caldwell F., 1411 Walnut St. Matthews, Frank C„ Stock Exchange Bldg. McCreery, Samuel & Co., 123 S. Broad Street. McCurdy, Wallace M., 1237 Commercial Trust Bldg. McLaughlin, Jr., William J., 1411 Walnut St. MEMBERS 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 8treet. Nick, (J. F.) & Co., 120 Broadway, New York. Niemond & Co., John S., Harrisburg, Pa. Palmer & Co., E. W„ Commercial Trust Bldg. Parke, John S., 1415 Walnut St. Parrish A Co., 212 South 15th Street. Phillips, Samuel K., & Co., 1317 Packard Bldg. Powell, A Victor, 6205 Ocean Ave.,Ventnor, N. J. Rakestraw, Betz & Co., 123 So. Broad St. Rebre, Charles A., 403 Stock Exchange Bldg. Ristine, 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, Barney & Co., 1411 Chestnut Street. Smith, W. Hlnckle, Girard Trust Co. Bldg. Snyder, Geo. E„ & Co., 600-601 Stock Exchange Bldg. Snyder, R. Maurice, 1518 Locust St. Sparks, J. W., A 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„ 1529 Walnut St. 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. Townsend, W. De H., 1513 Walnut St. Trimble & Co., 1326 Walnut Street. Turner, Gill & Crouter, 1614 Packard Bldg. Turton, George L„ 517 Stock Exchange. Vrooman, Samuel B„ Jr., 1411 Walnut St. Walsh, Frank C„ 115 Broadway, New York. Warwick. Arthur D„ Stock Exchange Bldg. Watson, Clifford A., 1420 Walnut St. Weeks, Henry C., 1518 Locust St. Wells, Charles C„ 609 Stock Exchange Bldg. Wheeler & Co., 1100 Girard Trust Bldg. Wieand. Jr., Franklin D„ 1508 Walnut St. Williamson, Jr., James A., 123 S. Broad St. Wilmer A Co., 123 S. Broad St. Wistar, Carter & Co., 1735 Commercial Trust Bldg. WOOD, A. C., JR., A 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. Wyckoff & Co., Edward G., 1528 Walnut Street. Yarnall & Co.. 1528 Walnut Street. York, Warren W., & Co., Packard Bldg. PITTSBURGH STOCK EXCHANGE Officers: R. S. Richards, President; F. X. Pfab, Assl. Secretary; (229 Fourth Ave.) 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 $1,000 bond shall be not less than $2.50 (these commissions shall not apply to government, state or municipal bonds or bonds and notes having five (5) years or less to run); for buying or selling each share of stock, shall be not less than as follows: Stocks selling under 50c a share................ ....... .......................................3% • Stocks selling at 50c and under $1.00........ ..................................... .03 Stocks selling at $1.00 and under $3.00.................................................. .04 Stocks selling at $3.00 and under $10.00.................................................. 075 Stocks selling at $10.00 and under $25.00................................................ 125 Stocks selling at $25.00 and under $50.00______________________ .15 Anderson, J. Willard, c/o Chaplin & Co., 419 Wood St. Askin, George K., Union Trust Bldg. Askin & Company, J. M„ Columbia Bldg. BACHE A CO., J. S., Oliver Bldg. Ballard & Co., W. E., Keystone Bk. Bldg. Barbour & Company, John B„ Magee Bldg. Bear & Co., S. Lee, Union Trust Bldg. Berberich, Alvin F„ Perrysville, Pa. Berger, Andrew B., c/o Potter Title & Trust Co. Borntraeger, Carl H.. 229 Fourth Ave. Bowman & Co., 704 People’s Bldg. Brinham, A. L., 229 Fourth Ave. Brinker.Bell A Co., Union Trust Bldg. Carothers & Company, James, Farmers Bank Bldg. Chapin & Co., S. B., Ill Broadway, New York. Chaplin & Co., 419 Wood St. Crawford, Jas. S„ Duquesne, Pa. Diffenderfer, Fred, 229 Fourth Ave. Diffenderfer, Wallace, 381 Union Trust Bldg. Dinkey, Jr., Chas. E„ 229 Fourth Ave. Dominick & Dominick, 316 Fourth Ave. Dornberger & Co., C. S„ 229 4th Ave. Edmundson, Jr., Ell, Columbia Bldg. EDWARDS A COMPANY, H. S., Union Bank Bldg. Evans, Sanford B., 229 Fourth Ave. Fenner & Beane, 67 Broad St., New York, N. Y. Foster, Bayard D., 244 Oliver Bldg. Giles, R. C., 229 Fourth Ave. Gillespie, I. L„ 1727 Grant Bldg. Glendlnning & Co., Robt., Packard Bldg., Phila. Stocks selling at $50.00 and under $75.00..................... ... ................ . .175 Stocks selling at $75.00 and under $100.00......................................... .20 Stocks selling at $100.00 and under $200.00......................................... .25 Stocks selling at $200.00, $0.15 per share additional, and for each advance of $100.00 in the selling price, an additional $0.15 per share. A minimum commission of not less than $1.00 shall be charged on all transactions. Commission for buying or selling memberships in the Exchange shall be 1% of the price. * 3% of the amount involved. MEMBERS Gluck, Hetzel & Co., Arrott Bldg. Goldsborough & Co., W. W„ Union Bank Bldg. Goldsborough, T. C„ 1701 Union Bank, Bldg. Grubbs, Scott Company, Union Trust Bldg. Hall, Cherry, Wheeler & Co., Rand Bldg., Buffalo, N. Y. Harriman, Henry A., 229 Fourth Ave. Hays, Louis B„ 1001 Keystone Bank Bldg. Hemphill, Noyes & Co., First National Bank Bldg. 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. Loeb & Co., Carl M., William Penn Hotel Marshall & Co., Commonwealth Bldg. MASTEN & COMPANY, A. E., First Nat’I Bank Bldg. Mc.Cutcheon, W. A., Arrott Bldg. McCutcheon, McKelvy & Durant, Union Trust Bldg. McJunkin, Patton & Company, 414 Union Bank Bldg. McKee & Co., G. S„ 239 Fourth Ave. McLaughlin, MacAfee & Co., 844 Oliver Bldg. Mitchell & Craft, Washington, Pa. Moore, Leonard & Lynch, Union Trust Bldg. Moreland, A. M„ First Nat’I Bank Bldg. Neeb, Jr., H. A., 340 S. Winebiddie Ave. Neuhut, Plohn & Co., 60 Broad St., New York, • N. Y. Nuttall & Company, R. V., Park Bldg. Parrish & Company, Investment Bldg. Phllllps-Schmertz & Co., Union Trust Bldg. Post & Flagg, 49 Broad St., New York, N. Y. Poutre, Ezra E„ Arrott Bldg. Powell & Co., Elmer E., Union Trust Bldg. Preston, Watt & Schoyer, Peoples Bldg. Purman, Thomas R., Washington, Pa. Reilly, Eugene S., 430 Fourth Ave. Reinstadtler, Thomas J., 229 Fourth Ave. Reynolds & Company, Grant Bldg. Roberts, Daniel Risher, 229 Fourth Ave. Rosenbloom, Arthur M„ Union Trust Bldg. Schmidt, H. R., c/o Kay, Richards & Co., 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. Ullery, M. D., 235 Fourth Ave. Vercoe & Co., Huntington Nat’I Bank Bldg., Columbus, Ohio. Wainwright & Co., H. C., 14 Wall St., New York, N. Y. ' Weed, Hall, Berndt & Co., 40 Wall St., New York, N. Y. „ . Wettach & Company, 218 Fourth Ave. Wettengel & Company, A. C„ Peoples Bank Bldg. Wilson, Walter J., Penn Ave. and Barbeau St. York, Darwin S., 229 Fourth Ave. Further Information on firms appearing in bold face type will be found In 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 1686 UTAH I. D. Lowe, 1st Vice-President; B. W. Dixon, 2nd Vice-President; F. Russell Pett, 3rd Vice-President; J. H. Deming, Secretary and Treasurer; E. P. Emery, Actg. Secretary and Caller. COMMISSION CHARGED Stocks selling at 75c and under $1.00_________ ______ 1% cent per share Stocks selline under lc.................. ....... ......... .............$1.00 per 1,000 shares 1)4 per cent on money Stocks selling at $1.00 and under $10.00....... Stocks selling at lc and under 5c....................... ......... $1.25 per 1,000 shares 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............. ......... ...............% cent per share No commission charge of less than One Dollar. Stocks selling at 35c and under 75c...................................... 1 cent per share MEMBERS Allen, J. M., Atlas Bldg. McLeod, J. N., 1111 Walker Bk. Bldg. Dixon Co.. B. W., Scott Bldg. Nebeker, W. D., Stock Exchange Bldg. 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. Badger, Richard C., 2380 Washington Av#., Finn, Alex V., 25 Beaver St., New York, N. Y. Snow, V. S„ 282 Canyon Road. Ogden. First Security Trust Co., Salt Lake City. Ure, Pett & Morris, Inc., 21 East 2nd St. Barclay, J. A., Newhouse Bldg. Thomas, A. Blake, 208 Lyon Bldg., Reno, Nev. Bemis, G. L., c/o Salt Lake Stock Exchange. Gibson, E. J., Box No 17, Spokane, Wash. Van Voorhis, L. P. First Security Co., Ogden Berger, B. M„ 67 Wall St., New York, N. Y. Havenor, Pett & Co., Newhouse Bldg. Walker Bk. & Tr. Co., Salt Lake City. Bering, E. A., Walker Bank & Trust Co. Hogle, J. A. & Co., 132 So. Main Street. Watson, Geo. H. & Co., 22)4 E. 1st So. St. Bryan, B. B„ 42 Broadway, New York, N. Y. Weggeland, Gordon, Walker Bank Bldg. Johnson, J. C., 132 S. Main St. Weiler, W. S., Stock Exchange Bldg. W. H. CHILD, Inc. Exchange Bldg. Knight, James W., 1956 Penobscot Bldg., Detroit, A. J. West, First Security Trust Co. Mich. Whitney, C. L., Stock Exchange Bldg. Cole, Allen Co., Atlas Bldg. Woods, Wm. W., c/o E. A. Pierce & Co., 301 Conrad, W. K., Walker Bank Bldg. Larson, A. R., c/o Elks Club, Salt Lake City. 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. Demlng, J. H., Felt Bldg., Salt Lake City. Calif. Officers: J. A. Barclay, President; SALT LAKE CITY STOCK EXCHANGE VIRGINIA Officers: Robert P. Martin, President; RICHMOND STOCK EXCHANGE Beverley B. Munford, Jr., Vice-President; COMMISSIONS J. Joseph May, Secretary and Treasurer STOCKS Selling under 50c___________________________________ 3% of amount BONDS 8elling at 50c and under $1.00 per share........................... 5c per share 8elling at $1.00 and under $5.00 per share............................ 7%c “ 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........ .................... 12%c per share Selling at $15 and under $50______________ _____ ___ 25c All others............................................ ....................................50c “ “ Selling at $50 and under $100......................................... $1.00 Selling at $100 and over......... ................... ....... .............. $2.00 “ “ MEMBERS Mason-Hagan, Inc., 916 E. Main Street. Abbott, Proctor & Paine, 911 E. Main St. RICHMOND CORE., 726 E. Main Street. Branch, Cabell & Co., 814 E. Main St. Miller & Patterson, 203 Mutual Bldg. Scott & Stringfellow, Mutual Bldg. Branch, Thomas & Co., 1101 E. Main St. Standard Securities Corp., State Planters Bank 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. Davenport & Company, 113 E. Main Street. Williams, John C. & Company, 1107 E. Main St. WASHINGTON SEATTLE STOCK EXCHANGE (302 Exchange Bldg.) Officers: Charles G. Mullen, President; Sherman Ellsworth, Vice-President; Edward K. Easter, Secretary; Lyle F. Wilson, Treasurer; Louis Klatzker, Executive Secretary; Charles T. Donworth, Counsel. RATES OF COMMISSION {In effect: October 14, 1936) MINIMUM RATES OF COMMISSION In effect October 14,1935 BOARD LOT On Stocks Selling: 100 shares up to $10.00 Under $1.00 per share___________________________________ 5c 25 shares for $10.00 to $100.00 At $1.00 and under $2.50 per share......... —..................................7%c 10 shares over $100.00 At $2.50 and under $5.00 per share......................... ..........-.........12%c The minimum commission charge shall be $2.50 on stock selling under At $5.00 and under $15.00 per share....... ..................................... . 15c $10.00 per share, and $5.00 on stock selling over $10.00 per share. At $15.00 and under $35.00 per share.............. .............................. 25c On all transactions where the total amount of money involved Is less than At $35.00 and under $50.00 per share_____________ ________ 35c $25.00, the commission charge shall be discretionary with the member. At $50.00 and under $100.00 per share......................................... 50c BONDS At $100.00 and up per share............ ............................................ .$1.00 $5.00 per $1,000 par value (regardless of number) (5c per share more for odd lots) $3.75 per $500 par value MEMBERS Hamer & Son Co., Wm. P., Hoge Bldg. Blackford, J. C., Hoge Bldg. Northern Securities Co., 615 Boren Ave. Hartman & Hartman, Empire Bldg. Bramhall & Stein, 1105 Hoge Bldg. Oakes, Prescott, 607-1411 Fourth Ave. Bldg. Herrin & Co., H. M., Exchange Bldg. 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 ft Co., F. K., 717 8econd Ave. Securities Exchange, Inc., 335 Medical Arts Bldg. Latimer & Co., A. G., Dexter Horton Bldg. Ferris & Hardgrove, Exchange Bldg. Stone, Wm. F., 202 Orpheum Bldg. Lewis & Co., John R., 1012 Second Ave. Gelletly & Co., R., 655 W. Pender St., Vancouver, Strout & Co., E. A., 1411 Fourth Ave. Bldg. Lockett & Co., G., 4736 45th St.. S. W. Speckert, F. J., 105 Cherry St. MacDonald, Alexander, 104 Aloha St. Gibson & Co., E. J., 5 Wall St., Spokane. Trusteed Estates of Wash., Central Bldg. McBurney, J. F., 1003 Green Bldg. Grande, Stolle & Co., 1605 Hoge Bldg. Graves & Co., F. D„ Bellingham Nat’l Bank Bldg., McConahy, C. D„ American Bank Bldg. United National Corporation, Exchange Bldg, Meiklejohn & Brown. 1321 Smith Tower. Bellingham. von Herberg, J., Liberty Theater Bldg. WEST VIRGINIA WHEELING STOCK EXCHANGE (318 Wheeling Steel Bldg.) Russell D. Irvine, Vice-President; C. M. Frye, Secretary-Treasurer COMMISSION RATES Price Wheeling Stock Exchange Rate per Share Selling up to 34% inc—_____ 25c per share Selling at 35 up to 99% inc............. .......................... 50c per share Selling at $100 and above.......................... $1.00 per share Minimum commission on any transaction $3.00, except where amount involved shall be less than $10.00 when it shall be as mutually agreed upon. Commission: In cases where stocks are listed on both Wheeling Stock Exchange and New York Stock Exchange, the minimum rate of commission may be the minimum commission charged on New York Stock Exchange. MEMBERS OF WHEELING STOCK EXCHANGE Firms Represented by Hazlett & Burt, Wheeling Steep Corp. Bldg............................... ................. H. C. Hazlett; D A Burt Geo. W. Baron & Co., Wheeling Steel Corp. Bldg........ ..................... .......................Wm. H. Wheeler A. E. Masten & Co., Central Union Bldg......... ........................... ...................... .........Louis F. Brand McGregor, Irvine & Anderson, 13th & Chapline St............. ...Edgar R. McGregor; Russell D Irvine John E. Stevenson, Inc., Hawley Bldg.............................................John E. Stevenson; Joe Jefferson Winthrop, Mitchell & Co., City Bank Bldg........................................................ .William E Wardman Officers: Wm. H. Wheeler, President Farther Information on firms appearing In bold face type will be found In the selected list of Investment Dealers following bank list In each city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis