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LOCAL STOCK EXCHANGE FIRMS
LOS ANGELES
Akln-Lambert Co., Room 401, 639 So. Spring St.
Bankamerica Co., 650 South Spring St.

GRANT, D. G. COMPANY, Room 415, 453
So. Spring St.

PIERCE, E. A. & CO., 515 West 6th St.

BANKS, HUNTLEY & CO., 634 South Spring
St.

Graves, Banning & Co., Room 600, 625 So. Spring
St.
Hay, Earl G., Room 926, 650 So. Spring St.

Rath, Howard G. Co., Ground Floor, 523 W. 6th
St.
Robinson, B. B. Rm. 1316, 639 So. Spring St.
Ruddock, A. B., 650 So. Grand Ave.

BAYLY BROTHERS, INC., 737 West 7th St.

HUTTON, E. F. & CO., 623 South Spring St.

Bissinger, Frederick M. & Co., 840 So. Serrano Ave.
Brashears, G. & Co., 510 So. Spring St.
Burr, Geo. H., Conrad & Broom, Inc., Room 501,
621 So. Spring St.

Jameson, A. L. & Co., 650 South Spring St.
Kerr, J. D. & Co., 621 South Spring St.
Laswell & Co., Room 211, 609 So. Grand Ave.
Lewis, M. H. & Co., Room 420, 453 So. Spring St.
Logan & Bryan, 636 South Spring St.
Los Angeles Investment Securities Co., 1033 So.
Broadway.
Martin, James R. & Co., 647 South Spring St.
Miller, Clyde E., 1262 Third Avenue
Miller, Revel & Co., Room 510, 650 So. Spring St.
Morris, A. W., Room 701, 219 W. 7th St.

CAVALIER, WM. & CO.,
Ground Floor Lobby, 533 W. 6th St.
CITIZENS NATIONAL CO., 453 So. Spring St.
Crisler, L. A. & Co., Room 702, 639 So. Spring St.
Crowell, Weedon & Co., Room 923, 650 So.
Spring St.
Dickinson, R. B„ Room 507, 325 W. 8th St.
Dunk-Harbison Co., 634 S. Spring St.
Ellis, S. H„ Inc., Room 1119, 639 So. Spring St.
Friedlander & Speth, Inc., Room 607, 650 So.
Spring St.

PACIFIC COMPANY OF CALIFORNIA, 621
South Hope St.
Paul, W. G„ Room 701, 704 South Spring St.
Phillips & Co., 412 West 6th St.

STAATS, WM. R. CO., 640 South Spring St.
Sutro & Company, Room 300, 210 W. 7th.
Tucker, Hunter, Dulin & Co., 621 S. Spring St.
Tulk & Co.. Room 1007, 219 W. 7th St.
Walsh, O’Connor & Barneson, 632 S. Spring St.
Welch, Brian K„ 623 So. Hope St.
Welch, Torrance C. & Co., Room 1301, 639 So.
Spring St.
Wilke, Fred L„ 530 W. Sixth St.
Williams, Tenney & Co., Room 500, 210 W. 7th
St.
Witter, Dean & Co., Room 611, 210 W. 7th St.
Young-Clarke & Co., Room 212, 215 W. 7th St. .

McClarty Harbison, Pres.
Francis P. Graves, 1st V, P.
W. G. Paul, 2d V. P.

Los Angeles Local Stock Exchange, O

■•.r. : > i

SECURITY-FIRST NATIONAL CO., 2151W.
6th St.

James R. Martin, Tr. .
Floyd E. Sanford, See.

MINIMUM RATES OF COMMISSION

..:.]

■ rj ?.* ? , <

In Effect May 16, 1932

SCHEDULE “A”
Minimum rates of commission EXCEPTING on stocks listed on the
New York Stock Exchange and/or formally listed on the New York Curb
Exchange.
Per 100
Odd Lots
On Stocks Selling
Minimum
Shares
(per share)
Under $1.00....... .................
$ 1.00 and under $ 3.00..
$ 3.00 and under $ 5.00..
$ 5.00 and under $ 10.00..
$ 10.00 and under $ 25.00..
$ 25.00 and under $ 50.00.
$ 50.00 and under S 75.00..
$ 75.00 and under $100.00.
$100.00 and under $125.00.
$125.00 and under $150.00..
$150.00 and under $200.00.

_$ 3.00
. 4.00
. 7.50
. 10.00
. 17.50
. 20.00
_ 22.50
. 25.00
. 30.00
. 30.00
. 30.00

$ -12H
.12 K
.12^
■ 12H
.25
.25
.25
.25
.30
.30
.30

$2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
3.00
3.00
3.00

At $200.00 and over per share, the commission shall be increased $5.00
per 100 shares additional for each $50.00 or fraction thereof increase in
selling price. The minimum charge shall be one-tenth (l/10th) the com­
mission charged for 100 shares. The commission on odd lots shall be on
the pro rate basis. The commission on Rights shall be fixed by the Floor
Trading Committee.
BONDS

Minimum
Bonds selling up to 125.....................$22.50 per $10,000 par value
IMS than $10,000 Lots............ .........$ 2.50 per $ 1,000 par value $2.50
At 125 and over, 100 share rates for stocks apply for $10,000 par
value
Less than $10,000 par value..................... .......................................Pro Rata
Liberty Bonds....................................$ 1.25 per $ 1,000 par value__ $1.25
In lots of less than $1,000 par value minimum charge is optional.

COMMISSION RULES:
For the minimum commission on stocks listed on the New York Stock
Exchange and/or formally listed on the New York Curb Exchange, and
such stocks traded on the unlisted division of the New York Curb Exchange
as are specifically approved by the Board of Governors, see Schedules “B"
and "C.” *
All stocks traded on the unlisted section of the New York Curb Exchange
take the rates under Schedule “A” as above, excepting such stocks as are
approved by the Board of Governors.
On transactions where the money involved is $10.00 or less, the com­
mission charge shall be optional.
In billing less than board lots the commission shall in no case be greater
than that which is designated for the transaction involving a board lot.
Commission charges on orders in excess of Board Lots shall be as follows:
When an order is executed for a number of shares involving a round lot of
100 shares and an odd lot of, say 30 shares, the commission to be charged
is the usual rate for the round lot and pro rata for the odd lot, provided the
order is executed in its entirety. However, when a customer enters on
order to sell 130 shares at a limit and the broker executes the order within
the limit for 100 shares and there remain 30 shares which is thereafter
converted by the customer into a market order, members are required to
treat the 30 shares as an odd lot and charge the odd lot commission and
may not charge pro rata of the round lot rate. In any case when a customer
changes his limit the unfilled balance of the order must be treated as a
new order.
For all transactions in New York a charge must be made for insurance,
postage, exchange or any other expenses.
PENALTY for violation of the above rates is suspension and fine, or
expulsion from the Exchange.
NOTE:
Special rates are allowed on Stocks listed on both New York and Los Angeles
Exchanges. These rates may be had on application to the Los Angeles Stock
Exchange.

Farther Information on firms appearing in bold lace type will be found in the selected list of Investment Dealers following bank list In each city.
1965


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1966

LOCAL STOCK EXCHANGE FIRMS

Adams, W. W. & Co., 465 California St.
Alanson Bros. & Co., 486 California St.
Bacon & Co., 485 California St.
Barth, J. & Co., 482 California St.
Berl, Edwin D., 256 Montgomery St.
Bolton, Robert C. & Co., 486 California St.
Boren & Howell, 300 Standard Oil Bldg.
Brayton, Douglass & Co., 247 Montgomery St.
Bremer, Milton A., 256 Montgomery St.

Grimes & Swift, 500 Financial Center Bldg.
Haley, S. M. & Co., 315 Montgomery St.
Hellmann-Wade & Co., 517 California St.
Hendrickson, Shuman & Co., 2404 Russ Bldg.
Holt & Company, 155 Sansome St.
Johnson, Cyrus B„ 300 Standard Oil Bldg.
Katin, Sidney P., 482 California St.
Keyston F. B. Co., 50 Post St.
Koshland, Max I. & Co., Suite 12, Mills Bldg.
Leib, Keyston & Co., 50 Post St.
Lilienthal-Colman & Co., 211 Montgomery St.
Logan & Bryan, 401 Montgomery St.
Lundborg, Irving & Co., 604 Kohl Bldg.
Manheim, Dibbern & Co., 440 Montgomery St.
McCreery, Finnell & Co., Ill Montgomery St.
McDonnell & Co., 633 Market St.
McNear & Company, 362 Russ Bldg.

SAN FRANCISCO

CAVALIER, WM. & CO., 121 Sutter St.
Coleman, Jr., Robert L., 133 Montgomery St.
Curran & Dwyer, 155 Sansome St.
Davis, Skaggs & Co., 2040 One Eleven Sutter Bldg.
Ehrman, Albert L„ 519 California St.
Fagan, Eastland & Co., 1 Montgomery St.
Filmer, Bradford & Maxwell, 37 Montgomery St.
Greenwood-Raggio & Co., 1821 Russ Bldg.

Meigs, J. J. & Co., 315 Montgomery St.
Newell, Murdoch, Railey & Co., 1050 Russ Bldg.
Norris, L. H. & Son, 425-429 Pine St.
Park, Howard G., 300 Standard Oil Bldg.
Parrish, Kendrick & Co., 315 Montgomery St.
PIERCE, E. A. & CO., 301 Montgomery St.
Raiss, Carl & Co., 256 Montgomery St.
Shaughnessy, Frank C. & Co., 933-111 Sutter
Bldg.
Stern, John D., 155 Sansome St.
Steinhardt, Laurence J., 420 Russ Bldg.
Strassburger & Co., 133 Montgomery St.
Sutro, Adolph G., 155 Sansome St.
SUTRO & CO., 407 Montgomery St.
Warden, Doyle & Co., 2801 Russ Bldg.
Witter, Dean & Co., 486 California St.

BONDS

San Francisco Stock Exchange, Officers:
(155 Sansome St.)
Albert L. Ehrman, Pres.
Reginald C. Jenkins, V. P.
Ruth Kapelsky, A. See.

Up to $125.00, $10,000 lots..............$25.00 per $10,000 par value..$2.50
(Odd lots pro rata)
At $125.00 and over rates for stocks apply
(except that an odd lot is less than $10,000 par value)

MINIMUM RATES OF COMMISSION—In Effect April 28, 1930
Minimum
Charge
On Stocks Selling
t Under $1.00 per share................................ .$ 3.00 per 100 shares..$2.50
(Odd lots 12Hc per share)
At $ 1.00 and under $ 3.00 per share.......$ 4.00 per 100 shares..$2.50
(Odd lots 12>£c per share)
At $ 3.00 and under $ 5.00 per share.......$ 7.50 per 100 shares..$2.50
(Odd lots 12Hc per share)
At? 5.00 and under ? 10.00 per share___ ?10.00 per 100 shares..?2.50
(Odd lots 12j^c per share)
At $ 10.00 and under $ 25.00 per share___ $17.50 per 100 shares..$2.50
(Odd lots 25c per share)
At $ 25.00 and under $ 50.00 per share___ $20.00 per 100 shares..$2.50
(Odd lots 25c per share)
At $ 50.00 and under $ 75.00 per share....... $22.50 per 100 shares._$2.50
(Odd lots 25c per share)
At $ 75.00 and under $100.00 per share___ $25.00 per 100 shares..$2.50
(Odd lots 25c per share)
At $100.00 and under $200.00 per share.......$30.00 per 100 shares..$3.00
(Odd lots 30c per share)
At $200.00 and over per share, the commission shall be increased $5.00
per 100 shares additional for each $50.00 or fraction thereof increase in
selling price. The commission on odd lots shall be on a pro rata basis. The
minimum charge shall be l/10th the commission charged for 100 shares.
t In no case need the commission on rights selling under fifty cents exceed
five per cent of the money involved in the trade.

NOTE: Whenever the commission charge based on the odd lot rate is
higher than a charge for a round lot (100 shares) of the same stock, the
latter amount may be charged.
On all transactions where the total amount of money involved is less than
$50.00, but not less than $10.00, the commission charge shall be discretionary
with the member, subject to a minimum charge of $2.50 for each transaction.
When the amount involved is less than $10.00 the commission charge shall
be entirely discretionary.
Orders executed locally in stocks listed on the New York Stock Exchange
or the New York Curb Exchange shall take the established New YorkWestern rates for such stocks which differ from the above schedule only in
the round lot rates as follows:
On New York Stock Exchange stocks:
At $ .50 per share and under $1.00 per share............$ 5.00 per 100 shares
At $1.00 per share and under $5.00 per share_____ $10.00 per 100 shares
On New York Curb Exchange Stocks:
At $1.00 per share and under $3.00 per share............ $ 7.50 per 100 shares
The MINIMUM CHARGE for business transacted on the New York
Stock Exchange or the New York Curb Exchange shall be $5.00, except
that when the total amount involved is less than $50.00, the minimum
charge is $2.50; and except that when the amount of money involved is
less than $10.00, the commission charge shall be optional.
For all transactions in New York (and all out of town transactions) a
charge must be made for Insurance, postage, exchange, or any other expenses.
The minimum rate for insurance and postage on New York shipments shall
be 15c per $1,000 involved.
PAUL F. CADMAN,
Executive Secretary.

DENVER
Trevor Currie, 1566 Pearl St.
Davenport & Co., Suite 531, U. S. Nat’l Bank Bldg.
Denver Brokerage Co., 1721 Stout St.
Foreman & Company, Inc., Suite 213, California
Bldg.

W. R. Given & Co., Suite 804 Interstate Trust
Bldg.
H. H. Hurd & Company, 1034 U. S. Nat’l Bank
Bldg.
Majestic Securities Company, 319 C. A. Johnson
Bldg.

Units of Trading (Board Lots)

Denver Stock Exchange Officers:
Ralph G. McFann, Pres.
Harry Stern, 1st V. P.
R. H. Martin, Dir.

Ralph G. McFann & Co., 421 U. S. Nat’l Bank
Bldg.
Meyer-Martin & Co., Suite 436 U. S. Nat’l Bank
Bldg.
Stern-Stovall Corp., 218 Patterson Bldg.
R. E. Young & Company, 1706 Stout St.

A. Downs, Tr.
Ralph M. Davis, Sec.
R. O. Kermode, Dir.

RATES OF COMMISSION
Commissions Charged
Stocks selling under 5 cents—Five per cent on money.
Stocks selling at 5 cents and under 10 cents—$2.50 per 1,000 shares.
Stocks selling at 10 cents and under 25 cents—A cent per share.
Stocks selling at 25 cents and under 50 cents—$1.50 per 100 shares.
Stocks selling at 50 cents and under $1.00—$2.50 per 100 shares.
Stocks selling at $1.00 and under $2.50—$3.00 per 100 shares.
Stocks selling at $2.50 and under $5.00—$5.00 per 100 shares.
Stocks selling at $5.00 and under $10.00—$7.50 per 100 shares.
Stocks selling at $10.00 and under $25.00—$12.50 per 100 shares.
Stocks selling at $25.00 and over—A of 1% on money.
Minimum commission on stocks selling under $10.00 per share—$2.50.
Minimum commission on stocks selling at $10.00 and above—$3.50.

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 25 cents per share—500
shares.
Stocks selling at 25 cents per share and under $3.00 per share—100 shares.
Stocks selling at $3.00 per share and under $10.00 per share—50 shares.
Stocks selling at $10.00 per share and under $25.00 per share—25 shares.
Stocks selling at $25.00 per share and over—10 shares.
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.

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

1967

LOCAL STOCK EXCHANGE FIRMS

HARTFORD
Adams, Merrill & Co., 36 Pearl Street
Ballard & Company, 43 Pearl Street
Barnes & Co., Roy T. H., 125 Trumbull Street
Bissell & Co., C. S., 36 Pearl St.
Bolles, Burton W., 17 Lewis Street.
Conning & Company, 50 Lewis Street

FRANCIS R. COOLEY & CO., 125 Pearl St.

Eddy Brothers & Co., 33 Lewis Street
Eddy, Ernest J., The Capitol National Co.
Goodwin, Beach & Riley, 94 Pearl Street
Paine, Webber & Co., 49 Pearl Street.

Perkins, Thomas C., 36 Pearl Street.
Putnam & Company, 6 Central Row.
Shaw & Company, 75 Pearl Street.
STEVENSON, GREGORY & CO., 56 Pearl St.

Whaples, Viering & Co., 129 Trumbull Street
COMMISSION CHARGES

Hartford Stock Exchange Officers:
Goodwin B. Beach, Vice-President
Kenneth S. Adams, President
M. L. Stevens, Asst. Secretary
Thomas C, Perkins, Secretary
William D. Holman, Treasurer

All bonds
Stocks selling:
Below $ 25
$ 25___ 49%
50___ 99%

100___ 199%

200__ 299%
300___ 499%
500___699%
700 up

% of 1%

Commission

.12%
.25
.50
1.00
2.00
3.00
4.00
5.00

Commission
Commission
Commission
Commission"
Commission
Commission
Commission
Commission

WASHINGTON, D. C.
Auchincloss, Parker & Redpatch, 719 15th St.,
N. W.
Booker, Y. E. & Company, 730 15th St., N. W.
Glover & Flather, 1508 H St., N. W.

Hibbs, W. B. & Co., Hibbs Bldg.
Johnston, James M. & Company, Shoreham Bldg.

Murphy, G. M. P. & Company, 1510 H St., N. W.
Waggaman, Brawner & Company, Inc., 1700 Eye
St., N. W.
Westheimer & Company, Woodward Bldg.
STOCKS

Washington Stock Exchange Officers:
Edward L. Hillyer, Pres.
C. J. Gockeler, V. P.
James M. Johnston, TV.
Y. E. Booker, Sec.

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 $200____________ 50c.
pershare

COMMISSIONS CHARGES
BONDS

Government......... ......... ........................... ..............................12%c. per $100
All other bonds.................................. .....................................25c. per $100

Commissions on Rights shall be the same as those fixed for stocks.
Fractional shares:
Less than % share_______ ______ __ _____ l___ 25c. each transaction
% share and over______ _____ ______________ .50c. each transaction
Minimum charge of $1.50 on any single transaction except fractional
shares.

CHICAGO
Aldrich, F. C. & Co., 120 S. LaSalle St.
Apgar, Daniels & Co., 120 S. LaSalle St.

Haskell, Scott & Byrne, 120 S. LaSalle St.
Hitchcock & Company, 39 S. LaSalle St.

PERRILL, ALGER & CO., 231 S. LaSalle St.

BABCOCK, RUSHTON & CO., 112 W. Adams
St.

HORNBLOWER & WEEKS, 39 S. LaSalle St.

BACHE, J. S. & CO., 316 S. LaSalle St.

Hulburd, Warren & Chandler, 208 S. LaSalle St.
Jablonski, A. I. & Co., 120 S. LaSalle St.

Rothschild & Co., 105 W. Adams St.
Russell, Brewster & Co., 112 W. Adams St.
Sadler, Fred D. & Co., 208 S. LaSalle St.
Schuberth, Wm. A. & Co., 120 S. LaSalle St.
Scott, Burrows & Christie, 208 S. LaSalle St.
Seaverns & Co., 208 S. LaSalle St.
Shearson, Hammill & Co., 208 S. LaSalle St.
Shields & Company, 105 W. Adams St.
Shimmin, Robert P. & Co., 120 S. LaSalle St.
Sincere, Charles & Co., 231 S. LaSalle St.
Slaughter, A. O., Anderson & Fox, 120 S. LaSalle
St.
Smart, R. H. & Co., 141 W. Jackson Blvd.

BACON, WHIPPLE & CO., 112 W. Adams St.

Baker, Alfred L. & Co.. Ill S. LaSalle St.
Barney & Co., Chas. D., 135 S. La Salle St.
Bennett, James E. & Co., 332 S. LaSalle St.
Blumenthal, E. M. & Co., 120 S. LaSalle St.
Brown Brothers, Harriman & Co., 231 S. La Salle
St.
Cahn, Morton D., 120 S. LaSalle St.
Chapin, S. B. & Co., 209 S. LaSalle St.
Clark, Jno. F. & Co., 112 N. Franklin St.
CLARK, CHILDS & KEECH, 2118 S. LaSalle
St.

Cleary & Co., 120 S. LaSalle St.
Clement, Curtis & Co., 231 S. LaSalle St.
DAVIS, PAUL H. & CO., 37 S. LaSalle St.

Ditt, Paul C. & Co., 120 S. LaSalle St.
EASTMAN, DILLON & CO., 104 S. LaSalle St.

Ettinger & Brand, 208 S. La Salle St.
Fairman, Perry & Co., 208 S. LaSalle St.
Faroll Bros., 141 W. Jackson Blvd.
FIELD, GLORE & CO., 123 S. LaSalle St.

JACKSON BROS., BOESEL & CO., 316 S.
LaSalle St.

Jackson & Curtis, 231 S. LaSalle St.
Johns & Davis, 105 W. Adams St.
LAMBORN, HUTCHINGS & CO., 231 S.
LaSalle St.
LAMSON BROS. & CO., 141 W. Jackson Blvd.

Lester. Carter & Co., 209 S. LaSalle St.
Logan & Bryan, 105 W. Adams St.
Lowitz, E. & Co., 120 S. LaSalle St.
Marlow & Blum, 141 W. Jackson Blvd.
McDonald, Frank E. & Co., 120 S. LaSalle St.
Mills, W. S. & Co., 120 S. LaSalle St.
MITCHELL, HUTCHINS & CO., 231 S. LaSalle
St.

Molloy & Gross, 120 S. LaSalle St.
MOSELEY, F. S. & CO., 112 W. Adams St.

Fisher, (Vories) & Co., 105 S. LaSalle St.
Fuller, Cruttenden & Co., 120 S. LaSalle St.
Gerwig, Frank L. & Co.. 39 S. LaSalle St.
Halle & Stieglitz, 105 S. LaSalle St.

Moses & Wheeler, 105 S. LaSalle St.
Muller and Company, 141 W. Jackson Blvd.
Munds. Winslow & Potter, 141 W. Jackson Blvd.
Norris & Kenly, 208 S. LaSalle St.
Noyes, David A. & Co., 208 S. LaSalle St.

HALLGARTEN & CO., 120 S. LaSalle St.

OLIPHANT, JAS. H. & CO., 209 S. LaSalle St.

HARRIS, UPHAM & CO., 112 W. Adams St.

Paine, Webber & Co., 209 S. LaSalle St.
Patton, Joseph R. & Co., 120 S. LaSalle St.

Harrison, A. H. & Co., 120 S. LaSalle St.

PIERCE, E. A. & CO., 105 W. Adams St.

SMITH BROS., ROGERS & CO., 105 S. LaSalle
St.

Smith, Graham & Rockwell, 141 W. Jackson
Blvd.
Stein, Alstrin & Co., 219 S. LaSalle St.
Stoddard & Boyden, 120 S. LaSalle St.
SUTRO BROS. & CO., 200 S. LaSalle St.
SWIFT, LANGILL & HENKE, 168 W. Monroe
St.

Templeton’s Sons, J. S„ 141 W. Jackson Blvd.
Thomson & McKinnon, 316 S. LaSalle St.
TRASK, SPENCER & CO., 208 S. LaSaUe St.

Turner & Billings. 141 W. Jackson Blvd.
Wayne Hummer & Co., 105 W. Adams St.
Webster, Marsh & Co., 209 S. LaSalle St.
Weinress, (Morton) & Co., 231 S. LaSalle St.
White, Edward J. & Co., 120 S. LaSalle St.
WINTHROP, MITCHELL & CO., 141 W.
Jackson Blvd.
ZEILER, F. M. & CO., 209 S. LaSalle St.

Further information on firms appearing in bold face type will be found In the selected list of Investment Dealers following bank list in each city.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LOCAL STOCK EXCHANGE FIRMS

1968

CHICAGO—Continued
Chicago Stock Exchange Officers:
Paul H. Davis, Pres.
Harvey T. Hill, Exec. V. P.
Paul B. Skinner, Tr.
Martin E. Nelson, A. Tr.
E. W. Fedderson, A. Sec.
Gilbert M. Clayton, A. Sec.

M. J. O’Brien, V. P.
Jess Halsted, Sec.
Charles T. Atkinson, Sec. Emeritus
Warren A. Marler, A. Sec.
Kenneth L. Smith, A. Sec.

RATES OF COMMISSION
Commissions:
Section 1. Commissions shall be charged and paid under all circum­
stances, upon all purchases or sales of securities dealt in upon the Exchange
(except as provided in Subdivision [h], Section 2 of this Article) and shall
be absolutely net and free from all or any rebatement, return, discount or
allowance in any shape or manner whatsoever, or by any method or arrange­
ment direct or indirect; and no bonus or any percentage or portion of the
commission shall be given, paid or allowed, directly or indirectly, or as a
salary or portion of a salary, to any clerk or person for business sought or
procured for any member of the Exchange.
Sec. 2.

Commissions shall be calculated on the basis hereinafter specified:

(a) On railroad, public utility and industrial bonds, having more than
five years to run:
(al) On business for parties not members of the Exchange, including
joint account transactions in which a non-member is interested; transactions
for partners not members of the Exchange; and for firms of which the
Exchange member or members are special partners only, the commission
shall be not less than $2.50 per $1,000 par value.
(a2) On business for members of tne Exchange when a principal is given
up, the commission shall be not less than 75c per $1,000 par value.
(a3) On business for members of the Exchange when a principal is not
given up, the commission shall be not less than $1.25 per $1,000 par value.
(b) On securities of the United States, Porto Rico and the Philippine
Islands, and of states, territories and municipalities therein, on business
for members of the Exchange as well as nonmembers, the restrictions as to
minimum commissions contained in this article shall not be applicable, but
the rates to be charged shall be such as may be mutually agreed upon.
(c) On Stocks:
(cl) On business for parties not members of the Exchange, including
joint account transactions in which a non-member is interested; transac­
tions for partners not members of the Exchange; and for firms of which the
Exchange member or members are special partners only, the commission
shall be not less than the following:
On stocks selling below $10 per share, 7}4c per share.
On stocks selling at $10 per share and above, but under $25 per share,
1214c per share.
On stocks selling at $25 per share and above, but under $50 per share,
15c per share.
On stock selling at $50 per share and above, but under $75 per share,
17)4c per share.
On stocks selling at $75 per share and above, but under $100 per share,
20c per share.
On stocks selling at $100 per share and above, but under $200 per share,
25c per share.
On stocks selling at $200 per share and over, 25c per share for the first
$200 in price and 5c per share additional for each $50 increase in price, or
fraction thereof.
The minimum commission on an individual transaction in stock shall be
not less than as provided in subdivision (h) of Section 2, and Section 3 of
this Article.
(c2) On business for members of the Exchange when a principal is given
up, the commission shall be not less than the following:
On stocks selling below $10 per share but not less than $1 per share,
lMc per share.
On stocks selling at $10 per share and above, but under $125 per share,
2)4c per share.
On stocks selling at $125 per share and over, 3c per share, except that
the minimum commission shall be not less than as provided in Section 3
of this Article.
(c3) On business for members of the Exchange when a principal is not
given up, the commission shall be not less than the following:
On stocks selling below $10 per share but not less than $1 per share,
lMc per share.
On stocks selling at $10 per share and above, but under $125 per share,
3 Me per share.
On stocks selling at $125 per share and over, 5c per share, provided,
however, that the minimum commissions on individual transactions shall be
not less than as provided in Section 3 of this Article.
(d) In transactions where orders are received from a non-member, where­
in the broker filling the order is directed to give up another broker or clearing
house, the responsibility of collecting the full commission, as specified in
Subdivisions (al), (b) and (cl), hereof, shall rest with the broker or clearing
house settling the transaction.
(e) In transactions where orders are received from a member, on which
the clearing firm is given up by said member or by his order, the responsibility
of collecting the full commission, as specified in Subdivisions (a3), (b) and
(c3), hereof, shall rest with said clearing firm; and it shall be the duty of the
broker who executes such orders to report such transactions to the clearing
firm and render to them and collect his bill therefor at the rate specified in
Subdivisions (a2), (b) and (c2), hereof; and also that where a broker executes
an order for a member and clears the security himself, he must charge the
rates specified in Subdivisions (a3), (b) and (c3), hereof.
(f) Whenever a nonmember of this Exchange shall cause to be executed
in any market outside of the United States any order or orders, for the
purchase or sale of securities listed on this Exchange, (except as provided in
Subdivision [h] hereof), and said purchase or sale shall be accepted by a
member or firm who are members of this Exchange, for the account of said
non-members, the commission as specified in Subdivisions (al), (b) and (cl),
hereof, shall be charged said nonmember in addition to any commission
charged by the party or parties making the transaction.

(g) When securities are received or delivered on a privilege for a non­
member, the commission as specified in Subdivisions (al), (b) and (cl),
hereof, must be charged whether said securities are received or delivered
upon the day of expiration of said privilege or prior thereto.
(h) On Subscription Rights, Stocks selling for less than $1 per share;
Bonds or Notes of Foreign Countries having five years or less to run; Notes
of Corporations having five years or less to run; Bonds having five years or
less to run; such rates to members or non-members as may be mutually
agreed upon; provided, however, that the Committee on Commissions, with
the approval of the Governing Committee, may hereafter determine special
rates on any or all of the above mentioned securities.
(i) When a member merely receives and delivers securities for another
member, the clearing charge for said service may be a matter of mutual
agreement, and the restrictions as to minimum commissions contained in
this Article shall not be applicable. Such clearing cnarges shall be based
upon a stipulated sum of money for each one hundred snares of stock or one
thousand dollars of bonds received or delivered. The payment for said
service of a certain sum of money for any period of time, irrespective of
the number of shares or amount of bonds cleared, is forbidden.
Sec. 3. The minimum commission on transactions in bonds shall be not
less than $2.50.
The minimum commission on transactions in stocks for nonmembers
(except in stocks selling for less than $1.00 per share) shall
(a) Where the transaction involves $200.00 or more, be not less than
$5.00;
(b) Where the transaction involves less than $200.00 but $15.00 or
more, be not less than $3.00; and
(c) Where the transaction involves less than $15.00, be as may be
mutually agreed upon.
Upon transactions between members, the minimum commission shall be
$1.00 upon stocks selling at $10.00 and above per share, and 50c upon
stocks selling below $10.00 per share but not less than $1.00 per share;
Provided, that where any transaction involves less than $15.00, the com­
mission to be charged may be mutually agreed upon, and Provided Further,
that there shall be no minimum commission fixed upon transactions in odd
lots executed by members for and on behalf of odd lot dealers who have
been approved as such by the Exchange, but the commissions to be charged
to odd lot dealers upon the execution of transactions in odd lots shall be
calculated in accordance with Section 2 of this Article, without any minimum.
Sec. 4. Members suspended by the Governing Committee shall not’
during the time of suspension, be entitled to have their business transacted
at member rates.
A member who is in suspension by reason of insolvency, may have his
business transacted at members’ rates.
Sec. 5. No agreement or arrangement shall be entered into between a
member of his firm, and his or their customer, whereby special and unusual
rates of interest are stipulated for, or money advances upon unusual terms
are made a condition in connection with the conducting of an account, with
intent thereby to give special or unusual advantages to such customer, for
the purpose of securing his business.
Sec. 6. No payment shall be made to customers of the proceeds from the
sale of securities on the day of the sale and before the money is received by
the broker, unless interest is charged. When securities purchased for a
customer are not paid for by him on the day they are received and paid
for by the broker, interest must be charged from that date to the date of
payment. Where a material or more than nominal loss is sustained, either
through bank exchange charges or interest, the same must be charged to
the customer.
Sec. 7. Any member violating this Article, directly or indirectly, of
which the Governing Committee shall be the judge, shall, upon conviction,
for the first offense, be fined five hundred dollars, and shall be suspended
for a period of not less than three months; and for the second offense shall
be expelled, and his membership disposed of by the Committee on Admis­
sions.
COMMISSIONS ON RIGHTS AND STOCK
Reference is made to the By-Laws, Article XVI, Section 2, paragraph (h).
The Committee on Commissions, with the approval of the Governing
Committee, hereby rules that until further notice the commissions on sub­
scription rights accruing on one share of stock and upon stock selling for
less than $1.00 per share shall be not less than the following:
Under 50c per right or share of stock:
May be mutually agreed upon.
50c per right or share of stock, but under $1.00:
To non-members, not less than 3c; minimum 50c.
To members, give-ups, not less than )4c.
To members, clearance, not less than Me.
$1.00 per right and above, but under $5.00:
To non-members, not less than 5c; minimum $1.00.
To members, give-ups, not less than Me.
To members, clearance, not less than lMc$5.00 per right and above, but under $10.00:
To non-members, not less than 7Hc; minimum $1.00.
To members, give-ups, not less than lMc.
To members, clearance, not less than lMc.
$10.00 per right and above:
The rates shall conform to the rates on stocks of the same price; provided
that the minimum on one transaction to non-members shall be $2.00.
The above rates to be effective as of December 30, 1930, and to continue
in force until further notice.
Compensation: The payment of any commission or bonus for the
adjustment of salaries is held a violation of Article XVI, Section 1 of the
By-Laws. Any plans for additional or adjusting compensation should be
submitted to the Committee on Commissions for its approval.
Discretionary Accounts: Customers’ men and all other employees are
prohibited from handling discretionary accounts. Discretionary power in
the handling of an account may be vested only in partners. A partner
may delegate such discretionary power to a customers’ man to a reasonable
extent, provided the consent of the customer in writing is first obtained.
Such delegation of discretionary power by a partner to a customers’ man
does not relieve the partner of responsibility for improper transactions.

Further information on firms appearing In bold face type will be found lb the selected list of Investment Dealers following bank list In each city.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LOCAL STOCK EXCHANGE FIRMS

1969

INDIANAPOLIS
Becker, Charles S., & Co., 26 N. Pa. St.
BREED, ELLIOTT & HARRISON, 109 North
Pennsylvania Street
City Securities Corporation, Circle Tower Bldg.

FLETCHER AMERICAN COMPANY, Fletcher
American Bank Bldg.
HAUEISEN, OTTO F. & CO., Fletcher Savings
& Trust Bldg.
Jewett & Co., Fletcher Savings & Trust Bldg.

Indianapolis Stock Exchange, Officers
Herbert W. Todd, Pres. and See.
O. F. Haueisen, V. P.
C. Leroy Falvey, Treas.

Payne & Co., Gavin L„ Continental Bk. Bldg.
SHEERIN, THOMAS D. & CO., Fletcher
Savings & Trust Bldg.
Thomson & McKinnon, Circle Tower Bldg.
Todd, Herbert W„ Lemcke Bldg.

Rates of Commission:
nnr hnnH
per bona

*

-25 a share on stock

LOUISVILLE
Almstedt Brothers, 425 W. Market Street
Culbertson, S. A., Inter Southern Bldg.
Henning Chambers & Co., 431 W. Jefferson St.

HILLIARD & SON, J. J. B.,419 W. Jefferson
St.
LYONS & COMPANY, W. L., Kenyon Bldg.
McHenry & Co., L. H., United States Trust Bldg.

STEIN BROTHERS & BOYCE, 427 W. Jefferson
St.
Wakefield & Co., Dunlap 413 W. Jefferson St.
WILLSON & CO., JAMES C. 130 S. Fifth St.

COMMISSION RATES
Commission on stocks selling at less than $150 per share........ .............$ .25
Commission on stocks sellingover $150 and less than $250_________ .50
Commission on stocks selling over $250 and less than $500________ 1.00
2.00
Commission on stocks selling over $500_____
Minimum Commission__ ____ ______ _______________________ 1.00
Commission on bonds $2.50 per $1,000

Louisville Stoek Exchange Officers:
S. Clay Lyons, President
W. N. Clarke, Vice-President
A. J. Howard, Treasurer
F. L. Almstedt, Secretary

NEW ORLEANS
Airey & Richardson, 816 Union St.
Beer & Co., 817 Gravier St.
Clay & Co., Geo. W„ 1551 Canal Bk. Bldg.
DANE & WEIL, Inc., 1530 Canal Bk. Bldg.
Fenner, Beane & Ungerleider, 818 Gravier St.
Glenny & Company, 526 Whitney Bldg.
HIBERNIA SECURITIES CO., Inc., 226 Hi­
bernia Bank Bldg.

Jones & Co., Larz E., 734 Gravier St.
Lehman, Stern & Co., 840 Union St.
MOORE, HYAMS & CO., 610 Commons St.
Newman, Harold W., 901 Hibernia Bldg.
Pierce & Co., E. A., Maritime Bldg.
SAUNDERS, SON & CO., Inc., 2104 American
Bk. Bldg.
Schwartz Co., S. J., 403 Carondelet St.

New Orleans Stock Exchange, Officers.

A. B. Wheeler, Jr., Pres.
C. H. Hyams, 2nd Vice-Pres.
George J. Krummel, Sec.

RATES OF COMMISSIONS.
Established by the New Orleans Stock Exchange. To be charged on all
Transactions.
On U. S. Bonds............................................. ...................$2.50 per $1,000.00
On State, City, Levee and all other Bonds........................$5.00 per $1,000.00
On all bonds maturing within 1 year____ ......................$1.25 per $1,000.00
On all bonds maturing from 1 to 3 yrs.....................$2.50
per $1,000.00
ON ALL STOCKS SELLING:
Under fifty cents........................ .......x.......................As mutually agreed...
At fifty cents and above, but under $1.00___Not less than 3 cts per share
At $1.00 and up to $10.00................................................ -7y cts. per share
From $10.00 up to $25.00 per share............................-.12}4 cts. per share
From $25.00 up to $50.00 per share..............
15 cts. per share
From $75.00 up to $100.00 per share__ *_______
25 cts. per share
From $100.00 up to $200.00 per share__...........
50 cts. per share
On stocks selling at $200.00 per share and over, 50 cts. for the first $200.00
in price and 5 cts. per share additional for each $50.00 increase in
price or fraction thereof.

Smith & Co., Mason, 843 Union St.
Tessier & Son, C. A., 134 Carondelet St.
Villere & Co., St. Denis J., 552 Canal Bk. Bldg.
Weil & Co., Inc., 1019 Union Indemnity Bldg.
Wells & Stanton, 202 New Orleans Bk. Bldg.
WHEELER & WOOLFOLK, 720 Common St.
WOOLFOLK WATERS & CO., 1406 Canal Bk.
Bldg.
John Dane, 1st Vice-Pres.
A. W. Mysing, Treas.
Erwin R. Schweikhardt, A. Sec.

ON BANK STOCKS SELLING:
At $1.00 and up to $75.00, exclusive,..................................50 cts. per share
At $75.00 and up to $100.00, exclusive,........ .....................75 cts. per share
At $100.00 and up to $200.00, exclusive.................... ......... $1.00 per share
At $200.00 and over_______ ______ _________y2 of 1% of Market Value
On Exchange, Theatre and Club Stocks selling:
At or below $100.00________________________________$5.00 per share
Between $100.00 and $1,000.00....................................5% of market Value
At $1,000.00 and up to $5,000.00, exclusive_______
$50.00 per share
At $5,000.00 and up to $10,000.00, exclusive...______ $100.00 per share
At $10,000.00 and up to $15,000, exclusive......................$150.00 per share
At $15,000.00 and up to $20,000.00.............
.$200.00 per share
Commissions on rental of Exchange stocks shall be $25.00 as a minimum
charge.
On rentals for periods less than one year the commission shall be pro-rated,
provided no commission less than $10.00 shall be charged.
THE MINIMUM CHARGE ON ANY ONE TRANSACTION SHALL
BE $2.00

BALTIMORE
BAKER, WATTS & CO., Calvert and Redwood
Sts.
A. P. Barrett & Co., 3 E. Lexington St.
ALEXANDER BROWN & SONS, Calvert and
Baltimore Sts.
Frank B. Cahn & Co., Equitable Bldg.
Douglas G. Carroll & Co., 4 Stock Exchange Bldg.
J. C. Cooper & Co., 7 Stock Exchange Bldg.
Owen Daly & Co., 23 South St.
D. Fahnestock & Co., 14 Stock Exchange Bldg.
J. Harmanus Fisher & Sons, 7 South St.

ROBERT GARRETT & SONS, Garrett Bldg.
E. W. R. Grieves & Co., 607-9 Garrett Bldg.
John D. Howard & Co., South and Redwood Sts.
Jenkins, Whedbee & Poe, 10 South St.
W. W. Lanahan & Co., Calvert Bldg.
W. G. Leimbach & Co., 7 St. Paul St.
Lockwood, Peck & Co., Keyser Bldg.
MACKUBIN, GOODRICH & CO., South and
Redwood Sts.
Murphy & Co., G. M. P., Calvert Bldg.
Alex. C. Nelson & Co., 20 Stock Exchange Bldg.
Riggs & McLane, 32 South St.
John J. Riordan, Jr. & Co., Fidelity Bldg.

Frank Rosenburg & Co., Ill E. Redwood St.
J. H. Rowland & Co., 7 South St.
Schwarz, Morton & Schwarz, 202 Keyser Bldg.
Harry B. Soper & Co., 401 Vickers Bldg.
STEIN BROS. & BOYCE, 6 S. Calvert St.
Strother, Brogden & Co., Calvert and Redwood
Sts.
Howard R. Taylor & Co., 4 Stock Exchange Bldg.
Weilepp-Bruton & Co., Munsey Bldg.
Westheimer & Co., 213 E. Redwood St.
J. H. Wheeler & Co., 1 Stock Exchange Bldg.
Henry White & Co., 1414 Fidelity Bldg.
Whitely & Co., T. Evans., 3 Stock Exchange Bldg.
John A. Whitridge & Son, Keyser Bldg.

Further information on firms appearing in Sold 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

1970

LOCAL STOCK EXCHANGE FIRMS
BALTIMORE—Continued

Baltimore Stock Exchange Officers:

Harry Fahnestock, Pres.
John Redwood, Sec. and Tr.

RATES OF COMMISSION

Chas. W. L. Johnson, V. P.
J. H. Kummer, Exec. Sec.

Minimum Commissions on Stocks
Selling at Prices Below

KATES OF COMMISSION

Minimum Commissions on Stocks
Selling at Prices Below

Under 50c a share..................... .........
At 50c a share and above, but under $1
At $1 a share and above, but under $5
At $5 a share and above, but under $ 10
At $10 a share and above, but under
$50.________ ________________
At $50 a share and above, but under

TO BE CHARGED TO
NonMembers Members
Members
when no when name
name is is given up
given up
IJ^c
He
^c
3 c
He
He
5 c
I'Ac
1 c
10c
2 c
\He
15c

$100________________ _

4 c

25c

TO BE CHARGED To
NonMembers Members
Members when no when name
name is is given up
given up
$2.5075c
50c

.
Bonds..........................................
Bonds running three years or less—
selling at not below 90 nor above 110
$1.00
30c
20c
The above rates apply to all transactions made on this Exchange in
stocks listed on the New York Stock Exchange.
Special Bates:

2Hc
4 c

Commercial Credit Co. common—N. Y. Stock Exchange rate.
Cons. Gas Electric Light & Power Co. common—N. Y. Curb Exchange rate.
Pennsylvania Water and Power Company—N. Y. Curb Exchange rate.
Silica Gel Corporation—N. Y. Curb Exchange rate.
Stocks selling under 10c—By agreement, no minimum.
Commissions on rights shall be the same as those fixed for stocks.
The minimum commission charged on any completed individual trans­
action in stocks shall be not less than $2.50, provided that the commission
charge on any such transaction involving a total amount of less than $50.00
may be by mutual arrangement.

GHe
At $100 a share and above, but under
$150___ ____ ________________ 40c
7 c
10c
At $150 a share and above, but under
$200__________ ___ ____
50c
8 c
13c
At $200 a share and above..................
.04%
.06%
H%
of amount of amount of amount
of
of
of
transaction transaction transaction

BOSTON
Adams, L. Sherman, 10 Post Office Square.
Baldwin & Co., 30 Federal Street.
Blake Bros. & Company, 111 Devonshire Street.
Bolles, M. & Co., 35 Congress Street, Room 803.
Bowen, J. W. & Co., 53 State Street, Rooms 27, 28.
Bright, Elmer H. & Co., 84 State Street.
Bright, Sears & Co., 53 State Street, Room 203.
BROWN BROTHERS, HARRIMAN & CO.,
60 State Street.
BURR, GANNETT & CO., 53 State Street,
Room 29.

Chase & Co., 19 Congress Street.
Clark, Childs & Co., 10 Post Office Square.
Collins, Breed & Co., 82 Devonshire Street.
Colwell & Co., 209 Washington Street.
Crocker, Percy G. & Co., 35 Congress Street.
Dabney, F. L. & Co., 10 Post Office Sq.
DAY, R. L. & CO., 14 Milk Street.

Downer & Co., 53 State St., Room 36A
ESTABROOK & CO., 15 State Street.

Fales, T. C. & Co., 140 Federal Street.
Gagen, T. F. & Co., 53 State Street, Rooms 36A.

Gallagher, R. A. & Co., 50 Congress Street, Rm.
515.
Goodwin, Homer & Co., 53 State Street.
Gray & Wilmerding, 84 State Street.
Griffin, James F. & Co., 53 State Street, Room 36A.
Griffith, Norman, 60 Congress Street, Rooms
411-412.
Hale, Waters & Co., 199 Washington Street.

HAYDEN, STONE & CO., 75 Federal Street

Haynes, E. B., c/o Burr, Gannett & Co., 53 State
Street, Room 29.
Hines, Robertson & Co., 60 Congress Street,
Rooms 406-08.

HORNBLOWER & WEEKS, 60 Congress Street

Hovey, Chandler & Co., 82 Devonshire Street,
Room 326.
Hutchins & Parkinson, 53 State Street.
Jackson & Curtis, 10 Post Office Square.
Jacobs, Williams & Co., 50 Congress Street.

KIDDER, PEABODY & CO., 115 Devonshire

Kitching, E. J. & Co., 75 Federal Street.
Laidlaw & Co., 24 Federal Street.
Long & Nash, 10 Post Office Square.
Lutz, Roger A. & Co., 60 State St.

Moors & Cabot, 111 Devonshire Street.
Moran, John J. & Co., 53 State Street, Room 409.

MOSELEY, F. S. & CO., 50 Congress Street.

Mott, Louis P. & Co., 80 Federal Street, Rooms
801-803.
Paine, Webber & Co., 82 Devonshire Street.

PIERCE, E. A. & CO., 45 Milk Street.

Prince, F. H. & Co., Ames Building, Room 1.
Proctor, Cook & Co., 50 Congress Street.
Schirmer, Atherton & Co., 79 Milk Street.
Scudder, Stevens & Clark, 10 Post Office Square.
Sears & Co., 68 Devonshire St.

SMITH, EDWARD B. & CO., 1 Federal Street.

Thorndike & Allen, 53 State Street, Room 309.
Thornquist, Carl J., 53 State Street, Room 36B.
Tifft Brothers, 50 Congress Street.
Townsend, Anthony & Tyson, 15 State Street.
Tucker, Anthony & Co., 74 State Street.
Wainwright, H. C. & Co., 60 State Street, Room
101.

Walsh, Alonzo G., 75 State St.
Whitney & Elwell, 30 State Street.
Williston, J. R. & Co., 53 State Street, Rooms 209,
210.

Wrenn Bros. & Co., 24 Federal Street.
STOCKS PER SHARE

Boston Stock Exchange, Officers

James Dean, Pres.
Charles A. Collins, Vice-Pres.

George A. Rich, Tr.
George A. Rich, Sec.

RATES OF COMMISSION
In Effect June 12,1931
BONDS

Railroad, public utility and industrial bonds, having more than five
years to run—
On par value $1,000............................................................................ ..$2.50
(Government Bonds are exempt from the regular rate)

Selling below 50c.______________ ____ __________________ ..Optional
Selling at 50c or above, but under $1.___________ ____ _____ 1J^ cents
Selling at $1 or above, but under $5.............................................. 5 cents
Selling at $5 or above, but under $10.................... ........................7H cents
Selling at $10 or above, but under $25________________ ____ 12H cents
Selling at $25 or above, but under $50.................... ...................... 15 cents
Selling at $50 or above, but under $75________ _______ _____ 17J^ cents
Selling at $75 or above, but under $100.._____ _____________20 cents
Selling at $100 or above, but under $200........ ..............................25 cents
Selling at $200 or above, but under $250_______ ______ _____ 30 cents
For each additional $50 or part thereof above $250_____5 cents additional
The minimum commission on each completed individual transaction shall
not be less than one dollar, except that on transaction involving less than
fifteen dollars the charge may be optional.
On subscription Rights; Bonds or Notes of Foreign Countries having five
years or less to run; Notes of Corporations having five years or less to run;
Bonds having five years or less to run; such rates to members or non­
members as may be mutually, agreed upon; provided, however, that the
Committee on Commissions with the approval of the Governing Committee,
may hereafter determine special rates on any or all of the above mentioned
securities.

DETROIT
Alger, Russell A. Jr., 3975 Penobscot Bldg.
Alison & Co., 244 Buhl Bldg.

Hague, Samuel, 1446 Penobscot Bldg.

Paine, Webber & Co., 100 Penobscot Bldg.

Baker, Slmonds & Co., 234 Buhl Bldg.
Bennett, Smith & Co., 640 Griswold Street.

HARRIS, SMALL & CO., 1400 Penobscot
Bldg.

PARCELLS, CHARLES A. & CO., 539 Penob­
scot Bldg.

Hentz, H. & Co., 1 Buhl Bldg.

Pardee, M. L. & Co., 448 Buhl Bldg.

HORNBLOWER & WEEKS, 244 Penobscot
Bldg.
HUTTON, W. E. & CO., Fisher Bldg.

PIERCE, E. A. & CO., 1 Ford Bldg.

BACHE, J. S. & CO., 119 Penobscot Bldg.
BRAND, DRESSER & CO., 982 Penobscot
Bldg.

Brown, John L. & Co., 318 Dime Bank Bldg.
Butler & Co., J. M., 224 Penobscot Bldg.
Crouse & Co., 1817 Penobscot Bldg.
Currie, John D. & Co., 319 Dime Bank Bldg.

DOMINICK & DOMINICK, 314 Ford Bldg.

Eis, V. R„ 2316 Union Guardian Bldg.
Ellwood, Aaron A., 539 Penobscot Bldg.
Ettinger & Brand, 216 Penobscot Bldg.
Farrand, Newcomb & Hatch, 2006 Penobscot
Bldg.
Fenner, Beane, & Ungerleider, 639 Penobscot
Bldg.
Ferriss, Wagner & Miller, 1444 Buhl Bldg.
Flske, L. E., Penobscot Bldg.

Jennings & Busby, 500 Fidelity Bank & Tr. Bldg.
MacCrone, E. E. & Co., 2664 Penobscot Bldg.
Marks, A. L., 70 Penobscot Bldg.
Marks, Burton,2316 Union Guardian Bldg.
Morrison & Townsend, Penobscot Bldg.
MOSS, W. E. & CO., 2316 Union Guardian
Bldg.
NICOL, LIVINGSTONE & FORD, Ford Bldg.

Pryor & Co., 1414 Union Guardian Bldg.
Reilly, W. E. & Co., 1446 Penobscot Bldg.
Roney, Wm. C. & Co., 2232 Union Guardian Bldg.
Rose, Wm. H. & Co., 966 Penobscot Bldg.
Rotsted, Ralph, 244 Buhl Bldg.
Rudel, Arthur W., 1817 Penobscot Bldg.
Schlachman, Max & Co., 867 Penobscot Bldg.
SHADER, WINCKLER CO., 204 Penobscot
Bldg.

Walker, William T. & Co., 1304 Penobscot Bldg.
Wallace & Co., 4450 Penobscot Bldg.

WATLING, LERCHEN & HAYES, 344 Buhl
Noble, H. W„ 306 Dime Bank Bldg.
Bldg.
O’Hara, Weber & Co., 238 Buhl Bldg.
Woodruff, D. M. & Co., 1546 Penobscot Bldg.
Olson, Warren T., 2316 Union Guardian Bldg.
Stocks selling at $100.00 per share and above, but under $200.00, not
less than 25c per share.
Detroit Stock Exchange Officers:
Stocks selling at $200.00 per share and above, but under $250.00, not
Laurence P. Smith, Pres.
Charles B. Crouse, Vice-Pres.
less than 30c per share.
Raymond W. Reilly, Tr.
Clark C. Wickey, Asst, to Pres.
For each additional $50.00 in price, 5c additional, EXCEPT THAT at a
Clark J. W. Colby, Sec.
meeting of the Board of Governors held January 6, 1932, Section 1, of
COMMISSION RATES
Article IX governing commissions was changed insofar as it effects bank,
trust and insurance company stocks, as follows:
Stocks selling under 50c per share, 2% of amount involved.
Effective January 11, 1932, commissions on bank, trust and insurance
Stocks selling at 50c per share and above, but under $1.00, not less than
company stocks are:
3c per share.
Stocks selling under $50.00, not less than 30c per share.
Stocks selling at $1.00 per share and above, but under $10.00, not less
Stocks selling at $50.00 per share and above, but under $100.00, not less
than 7>^c per share.
than 50c per share.
Stocks selling at $10.00 per share and above, but under $25.00, not less
Stocks
selling at $100.00 per share and above, but under $150.00, not
than 12He per share.
less than 75c per share.
Stocks selling at $25.00 per share and above, but under $50.00, not less
Stocks selling at $150.00 per share and above, but under $200.00, not
than 15c per share.
less than $1.00 per share.
Stocks selling at $50.00 per share and above, but under $75.00, not less
Stocks selling at $200.00 per share and above, but under $250.00. not
than 17He per share.
less than $1.50 per share.
Stocks selling at $75.00 per share and above, but under $100.00, not less
Stocks selling at $250.00 per share and above, $2.00 per share.___
than 20c per share.____ _________________________________________
Further Information on firms appearing In bold face type will be found in the selected list of Investment Dealers following bank list in each c'ty


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1971

LOCAL STOCK EXCHANGE FIRMS

MINNEAPOLIS —ST. PAUL STOCK EXCHANGE
METROPOLITAN NATIONAL CO., 219 Met­
GATES & CO., STANLEY, 710 Merchants
Baker Co., Morris T., 330 Baker Bldg. Minneapolis.
ropolitan Bk. Bldg., Minneapolis.
Bank Bldg., St. Paul.
BAN CN ORTHWEST COMPANY, 620 Mar­
New York & Cont. Sec. Corp., Chamber of Com­
Guaranteed Mortage Co., 1240 Baker Bldg.,
quette Ave., Minneapolis.
merce Bldg., Minneapolis.
Minneapolis.
Brown & Co., Paul, 640 Rand Tower, Minneapolis.
N. W. Discount & Acceptance Corporation, 708
Kalman & Company, 144 Endicott Bldg., St. Paul.
Dain & Co., J. M., 260 Rand Tower, Minneapolis.
Thorpe Bldg., Minneapolis.
KERFOOT & CO., PAUL S., 205 Pioneer Bldg.,
Doerr, Jr., Henry, 24 N. 3rd St.
Paine, Webber & Co., Rand Tower, Minneapolis.
St. Paul.
DRAKE-JONES COMPANY, 1245 N. W. Bank
Rand & Co., Rand Tower, Minneapolis.
Lewis & Co., Chas. E., 601 Second Ave. Minne­
Bldg., 209 GllflUan Block, Minneapolis.
Smith & Co., Wharton C„ 262 Bremer Arcade,
apolis.
First Minneapolis Co.. 1100 Builders Exchange
St. Paul.
Lowe Company, Justus F., 1005 First NationalBldg., Minneapolis.
Traer & Company, 1234 First National-Soo Line
Soo Bldg., Minneapolis.
FIRST SECURITIES CORPORATION COM­
Bldg., Minneapolis.
McCahill & Co., 730 McKnight Bldg., Minneapol is
PANY, 1100 Builders Exchange Bldg.,
Wells-Dickey Company, 5th St. and 2nd Ave.,
McCormick & Co., 264 Roanoke Bldg., Minne­
Minneapolis.
Minneapolis.
apolis.
Gamble Stores, Inc., 434 Stinson Blvd, Minneapolis
Mlnneapolls-St. Paul Stock Exchange Officers:
Warren F. Scribner, Pres.
Wharton C. Smith, V. P.
SPECIAL RATES ON BANK STOCKS
Robert G. Hopwood, V. P.
Bertha M. Lindquist, Assf. Sec.-Tr.
$1.00 to less than $10.00__
10 cts .per share
Justus F. Lowe, Sec.-Tr.
$10.00 to less than $25.00___
12}4 cts. per share
COMMISSION RATES
$25.00
to
less
than
$50.00________________________
15 cts. per share
Effective March 15, 1932
v
$50.00 to less than $75.00-____ ____ _____ ________ 17cts per share.
Stocks selling under 50 cts. per share__________________ 2 cts. per share
$75.00
to
less
than
$100.00_______________________
20
cts. per share
From 50 cts. to less than $1.00______________________ 3 cts. per share
$100.00 to less than $200.00..............
25 cts. per share
$1.00 to less than $5.00-.......... ................ ....................... - 5 cts. per share
$200.00
and
above_______
25
cts.
per share
$5.00 to less than $10.00.......... ........................................... 10 cts. per share
plus 5 cts. per share additional for each $50.00 increase in price or
$10.00 to less than $25.00..............__..................................15 cts. per share
fraction
thereof.
$25.00 to less than $100.00_____________ ___________ 25 cts. per share
Minimum—as above.
$100.00 to less than $150.00...............
30 cts. per share
$150.00 to less than $200.00----50 cts. per share
SPECIAL RATES ON T.C.R.T.C. NOTES AND SCRIP
$200.00 and over___ _____ ___________
M of 1 % of amount involved
Notes 25 cts. per $100.00-.-...................................... .......... Minimum $1.50
Minimum $1.00 for stocks selling under $10.00 per share
Scrip 2K cts per 1/100 Scrip........................................ .......Minimum $1.50
Minimum $2.00 for stocks selling at $10.00 and over
Rights—same as stocks.

ST. LOUIS
Gessler, E. A. & Son, Merchants-Laclede Bldg.
Aid & Company, Security Bldg.
SIMON, I. M. & COMPANY, 315 North 4th St.
Gray, H. J. & Company, Boatmen’s Bank Bldg.
BARKLAGE, LOUIS, 317 No. 4th Street.
SMITH, MOORE & CO., LaSalle Bldg.
Bauer Bros. Brokerage Co., 312 North 4th Street.
HAWES & COMPANY, Landreth Bldg.
STIFEL, NICOLAUS & CO., Boatmen’s Bank
Bennett, Jas. E. & Co., 705 Olive Street.
Hill Bros. & Company, Security Bldg.
Bldg.
Brown, Paul & Company, Paul Brown Bldg.
STIX & COMPANY, LaSalle Bldg.
JONES, EDW. D.&CO., Boatmen's Bank Bldg.
Burr, Stevens & Co., Inc., 506 Olive Street.
Taussig, Day, Fairbank & Co., Boatmen’s Bank
Knight & Co., Harry H., 401 Olive St.
Daly & Co., Bank of Commerce Bldg.
Bldg.
LITTLE & HAYS INV. CO., LaSalle Bldg.
Timmerman, F. C., & Co., Cotton Belt Bldg.
D’OENCH, DUHME & CO., Franklin-Am. Tr.
Nickerson & Company, Boatmen’s Bank Bldg.
Wade, Festus J. & Co., Columbia Bldg.
Bldg.
Rassieur, Sweeney & Co., 506 Olive Street.
EDWARDS, A. G. & SONS, 409 North 8th St.
WALDHEIM, PLATT & CO., 513 Olive Street.
Reinholdt & Gardner, Security Building.
FRANCIS BROS. & CO., 4th & Olive Streets.
WALKER, G. H. & CO., Broadway & Locust
H. L. Ruppert & Co., 402 Pine Street.
Str6cts*
Seddon,
Morfit,
&
Harvey,
Inc.,
Landreth
Bldg.
Friedman & Co., Wm. Stix, 513 Olive Street.
Whitaker & Company, 300 North 4th Street.
Semple, Jacobs & Co., Rialto Building.
Gatch Bros., Jordan & McKinney, 411 Olive St.
Stocks selling at $10.00 per share and less than $25.00 per share, $0.12J^
St. Louis Stock Exchange Officers:
per share.
John A. Aid, Pres.
Wm. H. Burg, V. P.
Stocks selling at $25.00 per share and less than $100.00 per share, $0.25
W. M. Louderman, Sec. and Tr.
Chas. A. Huebner, A. Sec.
per share.
Stocks selling at $100.00 per share and less than $300.00 per share,
RATES OF COMMISSION
$0.50 per share.
STOCKS
Stocks selling at $300.00 per share and less than $500.00 per share,
$0.75 per share.
Stocks selling at $1.00 per share or less. $2.00 per 100 shares.
Stocks selling at $500.00 per share and over, $1.00 per share.
Stocks selling at $1.12J^ per share and less than $3.00 per share, $3.00
per 100 shares.
BONDS
Stocks selling at $3.00 per share and less than $5.00 per share, $5.00
On bonds, $2.50 per $1,000 par value.
per 100 shares.
U. S. Bonds, $0.62J4 per $1,000 par value.
Stocks selling at $5.00 per share and less than $10.00 per share, $7.50
The minimum commission to be charged shall be $1.00.
per 100 shares.

NEW YORK
Abbott, Hoppin & Co., 120 Broadway
Abraham & Co., 120 Broadway
Adler, Coleman & Co., 15 Broad Street
Allen & Carstens, 42 Broadway
Ames Brothers, 39 Broadway
Andrews, Posner & Rothschild, 26 Broadway
Appenzellar, Allen & Hill, 55 Broadway
Arnold & Company, 32 Broadway
Ash & Co., Mervin, 40 Wall Street
ASIEL & CO., 11 Wall Street
Auchincloss, Mills & Bergen, 1 Wall Street
Auerbach, Poliak & Richardson, 30 Pine Street
Baar, Cohen & Company, 50 Broad Street
BABCOCK, RUSHTON & CO., 50 Broadway
BACHE & CO., J. S., 42 Broadway
Baker, Weeks & Harden, 52 Wall Street
Bamberger Bros., 39 Broadway
Barbee & Co., 40 Wall Street
Barnet, Fuerst & Co., 29 Broadway
Barney & Co.,Chas. D., 65 Broadway
Barnwell, Arthur & Co., 24 Broad Street
Barrett & Company, 30 Broad Street
Baylis & Co., 25 Broadway
Bear, Stearns & Company, 1 Wall Street
Beekman, Wm. B. & Co., 20 Broad Street
Beer & Company, 60 Broad Street
Belden & Co., 1 Wall Street
Bell & Beckwith, 42 Broadway
Benedict, E. C. & Co., 71 Broadway
Benjamin & Ferguson, 61 Broadway
Benjamin, Hill & Company, 39 Broadway
Bennett, James E. & Co., 23-25 Beaver Street
Berdell Bros., 1 Wall Street
Berg, Eyre & Kerr, 50 Broadway
Biggs, Mohrman & Co., 1 Wall Street
BILLINGS, OLCOTT & COMPANY, 52
Broadway
Blagden & Simonds, 120 Broadway.
Blake Brothers & Co., 40 Wall Street
Block & Co., Benjamin, 50 Broadway.
Blumenthal Bros., 71 Broadway
BLYTH & BONNER, 15 Broad Street
BOETTCHER, NEWTON & CO., 52 Wall St.
Bogert & Co., Beverly, 120 Broadway.
Bond, McEnany & Co., 60 Beaver Street
Boody, McLellan & Co., Ill Broadway
Bouvier & Co., M. C„ 20 Broad Street

Bradford & Co., J. C., 40 Wall Street.
Bradley, Boyle & Wilson, 1 Wall Street
Bramley & Smith, 52 Broadway
Brand, Grumet & Co., 149 Broadway
Brandenburg & Co., 40 Wall Street
Breining & Co., 17 Battery Place
Bridgman & Company, 26 Broadway
Brooks & Co., J. H., 1 Wall Street.
BROWN BROTHERS HARRIMAN & CO.
59 Wall Street.
Brown & Gruner, 39 Broadway
Brown & Co., Vernon C., 71 Broadway.
Bryan, Penington & Colket, 111 Broadway
BULL & ELDREDGE, 20 Broad Street
BURNET (W. E.) & CO., 11 Wall Street
Burnham, Herman & Co., 44 Wall Street
Burton, Cluett & Dana, 120 Broadway
Butler, Wick & Co., 40 Wall Street
Butler, Herrick & Marshall, 24 Broad Street
Byck & Lowenfels, 50 Broad Street
Cahn & Co., Frank B„ 120 Broadway.
Callaway, Fish & Co., 15 Broad Street
Campbell & Co., H. G., 149 Broadway.
Carey, H. T. & Co., 50 Broadway
CARLETON & MOTT, 170 Broadway
Carlisle, Mellick & Co., 50 Broadway
Carreau & Snedeker, 63 Wall Street
Carter & Co., 48 WTall Street.
Caspary & Co., A. H., 60 Broadway.
CASSATT & CO., 1 Wall Street
CASSEL, STRUPP & CO., 52 Wall Street
Chapin, S. B. & Co., Ill Broadway
Chapman, Carman & Co., 100 Broadway
Chauncey & Co., 61 Broadway
Chisholm & Chapman, 52 Broadway
Clark & Co., Jno. F„ 27 William Street.
CLARK, CHILDS & CO., 11 Broadway
CLARK, DODGE & CO., 61 Wall Street
Clews & Co., Henry, 7-9-11 Broadway.
Clucas & Company, E. W., 70 Pine Street.
Coggeshall & Hicks, 111 Broadway
Cohen, Simonson & Co., 60 Broad Street
Colgate, Jas. B. & Co., 44 Wall Street
Collins, D. M. & Co., 40 Wall Street
Connelly & Co., F. J„ 37 Wall St.
Content & Co., H., Ill Broadway.

Corlies & Booker, 90 Broad Street
Coulon & Co., E. J., 39 Broadway.
Coulter & Elliott, 61 Broadway
Cowen & Co., 120 Broadway
Cronin & Co., J. P„ 39 Broadway.
Curtis & Co., 25 Broadway
Dabney & Co., F. L., 61 Wall Street.
Dann & Company, J. C., 65 Broadway.
Davis & Co., Fellowes, 52 Broadway.
Davis & Co., J. W„ 111 Broadway.
Davis & Co., Morgan, 15 Broad St.
Davis & Co., Paul H., 42 Broadway.
Day & Co., R. L., 14 Wall Street.
De Coppet & Doremus, 42 Broadway
de Cordova & Bro., Cyril, 25 Broad Street.
Degener & Co., 120 Broadway.
De Haven & Townsend, 52 Broadway
de Saint Phalle & Co., 120 Broadway.
Dewey, Bacon & Co., 50 Broadway
De Witt, Fleitmann & Co., 43 Exchange Place
Dietrich & Company, F., 1 Wall Street.
Disbrow, Dixoh & Potts, 120 Broadway
Dobbs & Company, 1 William St.
DOMINICK & DOMINICK, 115 Broadway
Douglas & Company, F. H., 61 Broadway.
Doyle & Company, Frank, 50 Broadway.
Drake & Co., Wilcox, 49 Broad Street.
DRYSDALE & CO., 71 Broadway
Du Bosque, George & Farrington, 52 Wall Street
Duff & Co., J. Robinson, 1 Wall Street.
Dunne & Co., John V., 19 Rector Street.
Dunscombe & Co., 60 Broad Street
du Pont, Francis I. & Co., 1 Wall Street
Dyer, Hudson & Co., 61 Broadway
EASTMAN, DILLON & CO., 120 Broadway
Edge & Co., C. N., 20 Exchange Place.
Edmonds & Pentz, 26 Broadway
Edwards & Sons, A. G., 49 Broad.
Einstein & Co., H. G., 42 Broadway.
Elias & Co., Albert J., 20 Broad Street.
Eliott & Co., Gilbert, 11 Broadway.
Elmer & Nettleton, 49 Wall Street
Ely & Son, 65 Broadway
Emanuel & Co., 32 Broadway
Engel & Kent, 120 Broadway
Eric & Drevers, 115 Broadway
Ernst & Company, 120 Broadway
Estabrook & Co., 40 Wall Street
Ettinger & Brand, 40 Wall Street
Evans, Stillman & Co., 14 Wall Street

Further information on firms appearing In bold lace type will be found In the selected list of Investment Dealers following bank list in each city,


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1972

LOCAL STOCK EXCHANGE FIRMS

Fahnestock & Co., 1 Wall Street
Fahy & Co., Walter J., 29 Broadway
Faroll Brothers, 50 Broadway
Farr & Co., 90 Wall Street
Feitner & Co., Q. F., 49 Wall Street.
Fenner, Beane & Ungerleider, 60 Beaver Street.

Kean, Taylor & Co., 20 Exchange Place
Keech, F. B. & Co., 11 Broadway
Kerr & Armstrong, 42 Broadway
Kidder & Co., A. M„ 1 Wall Street

NEW YORK—Continued

FIELD, GLOBE & CO., 38 Wall Street

Filer & Co., 39 Broadway
Filor, Bullard & Smyth, 39 Broadway
Finch, Wilson & Co., 120 Broadway
Florentino & Co., 120 Broadway
Foster & Adams, 120 Broadway
Foster (F. V.) & Co., 11 Wall Street.
Foster, Marvin & Co., 14 Wall Street
Fox, O’Hara & Co., 60 Broad Street
FRANK & COMPANY,
Broadway

ARTHUR E.,

39

Frankel & Co., J. D., 50 Broad Street.
Fransloli & Wilson, 120 Broadway
Fried & Company, Albert, 120 Broadway.
Fuller, Rodney & Co., 14 Wall Street
Gaines & Company, 50 Broadway
Gallic & Co., 50 Broadway
Gammack & Co., 39 Broadway
Gilbert & Co., Clinton, 120 Broadway
Gilchrist, Bliss & Co., 120 Broadway
Goadby & Co., W. H., 120 Broadway
Goldman, Sachs & Co., 30 Pine Street
Goodbody & Co., 115 Broadway
Gordon & Whitney, 115 Broadway
Granberry & Co., 65 Broadway
Graves, Banning & Co., 71 Broadway
GRAY & WILMERDING, 44 Wall Street

Green, Ellis & Anderson, 100 Broadway
Greene & Brock, 40 Wall Street
Greenbaum & Co., Fred H., 49 Wall Street
Greer, Crane & Webb, 37 Wall Street
Gruntal & Co., 60 Broadway
Gude, Winmill & Co., 1 Wall Street
Gutenstein & Markoe, 25 Broadway
Hall & Co., Myron S., 90 Broad Street
Halladay & Co., 14 Wall Street
Halle & Stieglitz, 25 Broad Street
HALLGARTEN & CO., 44 Pine Street
HALSEY & CO., C. D., 90 Broad Street

Halsted & Harrison, 1 Wall Street
Hamershlag, Borg & Co., 39 Broadway
Hano, Wasserman & Co., 71 Broadway
Harde & Ellis, 1 Wall Street
Hardy & Company, 11 Broadway
Harp, Tierney & Co., 39 Broadway
HARRIMAN & CO., Ill Broadway
HARRIS, UPHAM & CO., 11 Wall Street

Harris & Co., 115 Broadway
Hart & Co., Neville G., Ill Broadway.
Hartshorne, Fales & Co., 71 Broadway
Haupt & Company, Ira, 39 Broadway
HAYDEN, STONE & CO., 25 Broad Street
HEIDELBACH, ICKELHEIMER & CO., 49
Wall Street
HEMPHILL, NOYES & CO., 15 Broad Street
Henderson & Company, 40 Wall Street

Henderson, Charles F. & Sons, 100 Broadway
Hendrickson & Co , 61 Broadway
Hentz, H. & Co., 60 Beaver Street
Herrick, Berg & Co., 40 Wall Street
Herzfeld & Stern, 40 Exchange Place
Hewitt, Lauderdale & Co., 61 Broadway
Hill, Alfred & Co., 40 Wall Street
Hill, Charles W. & Co., 1 Wall Street
Hilson & Neuberger, 100 Broadway
Hincks Bros. & Co., 115 Broadway
Hirsch, Lilienthal & Co., 165 Broadway
Hiscoe & Company, R. V., Ill Broadway
Hitt, Farwell & Co., 1 Wall Street
Hoge, Underhill & Co., 11 Broadway
HOLMES & CO., J. H., Ill Broadway

Holsapple, Safford & Co., 59 Cedar Street
Homans & Co.. 120 Broadway
Hord, Curtiss & Co., 61 Wall Street
HORNBLOWER & WEEKS, 42 Broadway

Horton, H. L. & Co., 1 Wall Street
Hoyt & Co., (Colgate,) 14 Wall Street
Hubbard Bros. & Co., 66 Beaver Street
Hume & Benedict, 49 Wall Street
Hume & Thompson, 60 Broadway
HUTTON & CO., E. F., 61 Broadway
HUTTON & CO., W. E„ 52 Wall Street
Hyde & Miller, 15 Broad Street

Hyman & Co., 61 Broadway
Ingalls & Snyder, 100 Broadway

ISELIN & CO., A., 40 Wall Street

Jackson Bros., Boesel & Company, 26 Broadway
Jackson & Company, 74 Trinity Place
JACKSON & CURTIS, 115 Broadway

Jacobson & Co., Benjamin, 120 Broadway
Jacquelin & De Coppet, 43-47 Broad Street
JELKE & CO., (FRAZIER) 40 Wall Street
Jenks, Gwynne & Co., 65 Broadway

Jesup & Lamont, 26 Broadway
Jewett, Newman & Co., 25 Broad Street
Johnson & Wood, 120 Broadway
Joost, Patrick & Company, 90 Broad Street
Joseph & Co., Morris, 25 Beaver Street
Josephthal & Co., 120 Broadway
Kaiser & Company, Louis, 150 Broadway.
Kalbfleisch & Hedberg, 50 Broadway

PFORZHEIMER & CO., CARL H., 25 Broad
Street.

Phelps & McKee, 120 Broadway.
Phillips & Co., 54 Wall

KIDDER, PEABODY & CO., 17 Wall Street

PIERCE & CO., E. A., 40 Wall Street.

Kimbley & Co., 52 Wall Street
Kingsley, Avery & Co., 120 Broadway
Koch & Co., Spencer B., 29 Broadway
Kohler, Finley & Co., 11 Broadway

Post & Flagg, 49 Broad Street.
Pouch & Co., 1 Wall Street.
Prentice & Slepack, 25 Broadway.
Prentiss & Co., Geo. H„ 44 Wall Street.

KUHN, LOEB & CO., 52-54 William Street
La Branche & Company, 50 Broadway

PRESSPREICH & CO., R. W„ 68 William
Street.

Ladenburg, Thalmann & Co., 25 Broad Street

Prince & Company, Theodore, 120 Broadway.
Proctor, Cook & Co., 120 Broadway.

LAIDLAW & CO., 26 Broadway

PYNE, KENDALL & HOLLISTER, 60 Wall
Street.

Laird, Bissell & Meeds, 120 Broadway
Lamborn, Hutchings & Co., 37 Wall Street
Langley & Co., W. C., 115 Broadway
Lansburgh Brothers, 50 Broad Street
Lapham, Potter fc Holden, 44 Pine Street
Lauer & Co., William E., 50 Broadway
Lawrence & Sons, Cyrus J., 115 Broadway
LAZARD, FRERES, 19 Nassau Street

Lehman Bros., 1 William Street
Leopold & Co., James M., 70 Wall Street
Lewinson & Co., Sydney, 40 Wall Street
Lewisohn & Sons, Adolph, 61 Broadway
Libaire & Company, 37 Wall Street
Liberman & Stone, 25 Broad Street
Lindley & Co., 52 Broadway
Upper & Co., Arthur, 50 Broad Street
Livingston & Company, 111 Broadway.
Lloyd & Co., 39 Broadway.
Lober Brothers & Co., 37 Wall Street.
Locke, Andrews & Pierce. 25 Broadway.
Lockwood, Peck & Co., 52 Broadway.
Loeb & Co., Carl M., 50 Broad Street
Loeb, Alsberg & Co., 60 Broadway.
Loew & Co., 52 Wall Street.
Loewi & Co., Mortimer W., 24 Broad Street
Logan & Bryan, 42 Broadway.
Lowell & Son, 25 Broadway.
Lowitz, E. & Co., 29 Broadway.
Ludwig. Robertson & Company. 11 Broadway.
Luke, Banks & Weeks, 14 Wall Street.
Lyon, Clokey & Co., 120 Wall Street.
Mabon & Co., 45 Wall Street.
Mackay & Co., 14 Wall Street.
MacQuoid & Coady, 120 Broadway
Maloney & Co., Peter J., 50 Broadway
Manson & Co., Thos L., 120 Broadway
Marshall & Company. J. G., 61 Broadway
Marston & Co., 120 Broadway.
Mayer & Company, Jos. G., 74 Trinity Place.
Maynard, Oakley & Lawrence, 24 Broad Street
McCabe & Co., Arthur E.. 50 Broadway.
McCaffray & Co., Walter P., 25 Broad Street
McClave & Co., 67 Exchange Place.
McClure, Jones & Co., 115 Broadway.
McConnell & Co., H. F„ 60 Wall Tower
McDermott & Co., Peter P., 39 Broadway.
McDonnell & Co., 120 Broadway.
McGlinn & Company, 61 Broadway.
McGough & Schuman. 1 Wall Street.
McWilliam. Wainwright & Luce. 49 Wall Street.
Meehan & Co., M. J., 30 Broad St.
Meffert A Co., 56 Broad Street.
Melady & Co., John, 141 Broadway
Miller & Dodge, 71 Broadway.
Millett, Roe & Co., 120 Broadway.
Minton & Co., D. M., Ill Broadway
Mitchell & Watts, 65 Broadway
Montgomery & Co., R. C„ 111 Broadway
Montgomery, Scott & Co., 120 Broadway.
Moore & Co., D. T.. 50 Broad Street
Moore, Leonard & Lynch, 111 Broadway.
Moore & Schley, 100 Broadway.

Quincey & Co., Chas. E., 24 Broad Street.
Redmond & Co., 48 Wall Street.
Reiner & Co., Milton E., 74 Trinity Place.
Reinholdt & Gardner, 120 Broadway.
Reynolds & Co., 120 Broadway.
Reynolds, Fish & Co., 120 Broadway.
Rhoades & Co., 27 William Street.
Rich & Clark, 15 William Street.
Richard, C. B. & Co., 44 Beaver Street.
Richards & Company, 60 Wall Street.
Richards & Heffernan, 49 Wall Street.
Ristine & Co., F. P„ 15 Broad Street.
Rollins & Co., 52 Broadway.
ROOSEVELT & SON, 30 Pine Street.

Rose & Co., Luke H., 39 Broadway.
Rose, Cammann & Co., 120 Broadway.
Rose, Townsend & Carey, 1 Wall Street.
Roth & Co., B. H„ 25 Broad Street.
Rothschild & Co., 11 Wall Street.
Rothschild & Co., L. F., 120 Broadway.
Russell, Miller & Company, 120 Broadway.
RUTTER & COMPANY, 20 Exchange Place.
SALOMON BROS. & HUTZLER, 60 WaU St.

Salomon & Co., F. L., 60 Broadway.
Salomon & Landay, 60 Broadway.
Sargeant, Malo & Co., 65 Broadway.
Sartorlus & Smith, 61 Broadway.
Schafer Bros., 120 Broadway.
Schatzkin & Co., 60 Broad Street.
Schiff & Co., A. F., Ill Broadway.
Schmeltzer, Clifford & Co., 1 Wall Street.
Schoelkopf & Co., 61 Wall Street.
Scholl & Company, T. F„ 37 Wall Street,
Scholle Brothers, 20 Pine Street.
Schwabacher & Co., 120 Broadway.
Scott, Burrows & Christie, 111 Broadway.
Seasongood & Haas, 63 Wall Street.
SELIGMAN & CO., J. & W., 54 Wall Street.

Seligman, G. & A., 120 Broadway.
Seligsberg & Co., 50 Broad Street.
Shaskan, E. F. & G„ 39 Broadway.
Shea & McMannus, 67 Exchange Place.
Shearson, Hammill & Co., 71 Broadway.
Shields & Company, 52 Wall Street.
Shippee & Rawson, 111 Broadway.
Shuman & Co., 25 Broad Street.
Siegel & Company, 52 Wall Street.
Silberberg, D. H. & Company, 63 Wall Street.
Simmons & Co., E. H. H., 52 Broadway.
Simon & Co., I. M., 115 Broadway.
Simons, Blauner & Co., 70 Wall Street.
Sisto & Co., J. A., 68 Wall Street.
SLAUGHTER, A. O., ANDERSON & FOX,
120 Wall Street,
SMITH & CO., EDWARD B., 15 Broad St.

Smith, Frank & Co., 25 Broad Street.
Smith & Gallatin, 115 Broadway.
Smith, Graham & Rockwell, 50 Broadway.
SMITHERS & CO., F. S., 15 Broad Street.

Morgan, Howland & Company, 120 Broadway.
Morris & Co., 120 Broadway.
Morris & Smith, 52 Broadway.

Sneckner & Heath, 20 Broad Street.
Spaulding, Tucker & Co., 65 Broadway.
Sparks, J. W. & Co., 50 Broadway.
Spear & Leeds, 39 Broadway.
Spero & Co., 50 Broad Street.

MOSELEY & CO., F. S., 39 Broadway.

SPEYER & CO., 24-26 Pine Street.

MORGAN & CO., J. P., 23 Wall Street.

Moss, Ferguson & Kerngood, 60 Beaver Street.
Muir & Co., John, 39 Broadway.
MUIR & LOOMIS, 25 Broadway.

Munds, Winslow & Potter, 25 Broad Street.
Munn & Norris, 49 Wall Street.
Murfey, Blossom & Co., 120 Broadway.
Murphy, C. H. & Co., 25 Broadway
Murphy & Company, G. M.-P., 52 Broadway.
Nash & Co., Ill Broadway.
Neilson & O’Sullivan, 20 Broad Street.
Newborg & Co., 60 Broadway.
Newburger, Loeb & Co., 40 Wall Street.
Newman Bros. & Worms, 25 Broad Street.
NICOL, LIVINGSTONE & FORD, 120 Broad­
way.
Noel, Berman & Langley, 51 Broadway.

Norris & Kenly, 111 Broadway.
Norton & Gwathmey, 1 Wall Street.
Oliphant & Co., Jas. H., 61 Broadway.
Orvis Brothers & Co., 60 Broadway.
Paige, Smith & Remick, 39 Broadway.
Paiue, Webber & Co., 25 Broad Street.
Parker, McElroy & Company, 120 Broadway.
Parrish & Co., 40 Wall Street.
Pask & Walbridge, 1 Wall Street.
Pearl & Co., 120 Broadway.
Pell, Peake & Co., 24 Broad Street.
Pelzer, B. H. & F. W., 42 Broadway.
Perkins & Benton, 115 Broadway.

Speyer, Alexander & Co., 24 Broad Street.
Spiegelberg & Plohn, 39 Broadway.
Spingarn & Co., Leopold, 52 Broadway.
Springs & Co., 60 Beaver Street.
Stackpole & Buchanan, 120 Broadway.
Stafford & Co., 20 Exchange Place.
Stanton & Co., 52 Wall Street.
Stein, Alstrin & Co., 27 William Street.
STEIN BROS. & BOYCE, 120 Broadway.

Steiner, Rouse & Company, 25 Broad Street.
Stern & Co., Allison, 1 Wall Street.
STERN, KEMPNER & CO., 50 Broadway.

Stevens & Legg, 25 Broad Street.
Stewart & Co., 61 Broadway.
Stokes, Hoyt & Co., 1 Wall Street.
Stone & Co., R. T., 120 Broadway.
Stout & Co., 25 Broad Street.
Strassburger & Co., 120 Broadway.
Straus & Company, 25 Broadway.
Struthers & Dean, 49 Wall Street.
Struys & Jones, 52 Broadway.
Sulzbacher, Granger & Co., Ill Broadway.
SUTRO BROS., & CO., 120 Broadway.

Sutro & Co., 44 Wall Street.
Sydeman Bros., 50 Broad Street.
Tailer & Robinson, 39 Broadway.
Talcott, Potter & Co., 25 Broad Street.
Tameling, Lehmann & Co., Ill Broadway.
Tate & Hays, 71 Broadway
Taylor, Bates & Co., 48 Wall Street

Further information on firms appearing In bold face type will be found In the selected list of Investment Dealers following bank list in each city.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LOCAL STOCK EXCHANGE FIRMS

1973

NEW YORK—Continued
Taylor & Co., W. R. K„ 49 Wall Street.
Wainwright & Co., H. C„ 48 Wall Street
White & Stanley, 52 Broadway
Tefft & Company, 24 Broad Street
Waldheim, Platt & Co., 40 Wall Street.
White, Weld & Co., 40 Wall Street
Thomson & McKinnon, 11 Wall Street
Walker Brothers, 71 Broadway
Whitney & Sons, H. N„ 49 Wall Street
Tifft Brothers, 40 Wall Street
Walker & Co., G. H„ 1 Wall Street
Whitney & Co., Richard, 15 Broad Street
Walker & Sons, Joseph, 61 Broadway
Wightman, Williams & Co., 39 Broadway
TIMMINS & COMPANY, J. R., 61 Broadway.
Wallace & Co., Lew, 65 Broadway
Wilcox & Co., 40 Wall Street
TOBEY & DICKENSON, 25 Broadway
Waller & Co., 44 Wall Street
Willard & Co., F. A., 40 Wall Street
Tobey & Kirk, 25 Broad Street
Ward, Gruver & Company, 30 Broad Street
Williams & Co., Clark, 160 Broadway
Toerge & Schiffer, 15 Broad Street
Warner & Co., 141 Broadway
Williams, Nicholas & Moran, 25 Broad Street
Townsend, Anthony & Tyson, 115 Broadway.
Watling, Lerchen & Hayes, 25 Broad Street
Williston & Co., J. R„ 11 Wall Street
Trask & Co., Spencer, 25 Broad Street.
Watson, Armstrong & Co., 24 Broad Street
Travers & Clark, 11 Wall Street
WINTHROP, ROBERT & CO., 48 Wall Street
Watson & Co., T. L., 40 Wall Street
TROUNSTINE & CO., J. F., 50 Broadway.
WINTHROP, MITCHELL & CO., 26 Broadway
Tucker, Anthony & Co., 120 Broadway
WATSON & WHITE, 149 Broadway
Witter & Co., Dean, 52 Wall Street
Turnure & Co., Laurence, 64 Wall Street.
Watson
&
White,
149
Broadway
Wollman & Co., W. J., 120 Broadway
Van Wyck & Sterling, 71 Broadway
Weicker & Co., 1 Wall Street
Wood, Low & Company, 63 Wall Street
Vaughan & Company, 52 Broadway
Weingarten, Eisemann & Co., 120 Broadway
Wood, Struthers & Co., 20 Pine Street
Vercoe & Co., 11 Wall Street
Weisl
&
Co.,
Edwin,
70
Pine
Street
Worden & Low, 25 Broadway
Vilas & Hickey, 49 Wall Street
Welles, C. E. & Co., 39 Broadway.
Wfenn Bros. & Co., 25 Broadway
Wachsman & Wassail, 29 Broadway
WELLINGTON & CO., 120 Broadway
Wright & Sexton, 1 Wall Street
Wade Bros. & Co., 55 Broadway
Wertheim & Co., 57 William Street
Zeltner & Company, C. F„ 61 Broadway
Wadsworth & Wright, 1 Wall Street
Whitehouse & Co., Ill Broadway
Zuckerman, Henry & Co., 52 Broadway
Wagner, Stott & Co., 74 Trinity Place
ON TEN-SHARE-UNIT STOCKS
New York Stock Exchange Officers:
Richard Whitney, Pres.
Allen L. Lindley, V. P.
(as designated by the Committee of Arrangements)
See also Called Securities below:
Warren B. Nash, TV.
Edward T. H. Talmage, Jr., A. Tr.
John P. Ryan, Asst, to the Pres.
Ashbel Green, Sec.
Under $1.00 per share--------------------- -------May be mutually agreed upon
J. M. B. Hoxsey, Executive Asst, to
Francis T. Boyd, 1st Asst. Sec.
$1.00 per share and above, but under $5.00..Not less than 5c per share
the Committee on Stock List
$5.00 per share and above, but under $10.00.Not less than 10c per share
$10.00 per share and above, but under
COMMISSION RATES
$100.00--------- --------- ------------------------Not less than 20c per share
Rates to Non-members, etc.
$100.00 per share and above, but under
On business for parties not members of the Exchange, including Joint
$200.00--------------------------------------------Not less than 25c per share
account transactions in which a non-member is interested; transactions for
$200.00 per share and over..............................Not less than 30c per share
partners not members of the Exchange; the commission shall be not
plus 5c per share for each
less than the rates given below:
$50.00 or fraction thereof be­
Sec. 2 provides that commissions shall be calculated on the basis stated
ginning at $250.00
below:
ON STOCKS
ON SUBSCRIPTION RIGHTS
(except as to Ten-Share-Unit Stocks)
Under 50c per Right------------------------------May be mutually agreed upon
See also Called Securities below:
50c per Right and above, but under $1.00..Not less than 3c per Right
Under 50c per share______ ______ _______ May be mutually agreed upon
$1.00 per Right and above, but under $5.00.Not less than 5c per Right
50c per share and above, but under $1.00__ Not less than 3c per share
$5.00 per Right and above, but under $10.00.Not less than 7 Ac per Right
$1.00 per share and above, but under $10.00.Not less than 7 Ac per share
$10.00 per Right and above............................Not less than 15c per Right
$10.00 per share and above, but under
ON BONDS
$25.00.............. ........... .............................. Not less than 12J^c per share
(except as stated below)
$25.00 per share and above, but under
See
also
Called
Securities
below:
$50.00.____ ______ _________________ Not less than 15c per share
Not less than $2.50 per $ 1,000
$50.00 per share and above, but under
par value
$75.00........ ......... ....... .................................Not less than 17Ac per share
On Obligations of the United States, Porto Rico, Philippine Islands, and
$75.00 per share and above, but under
States,
Territories
and
Municipalities
therein:
Bonds and Notes having five
$100.00___ ______ _____ _____________Not less than 20c per share
years or less to run:
$100.00 per share and above, but under
Such
rates
to
members
or
non-members
as
may
be mutually agreed upon,
$200.00.......................... ..............................Not less than 25c per share
unless special rates are determined upon by the Committee on Quotations
$200.00 per share and over .......................Not less than 30c per share
and
Commissions.
plus 5c per share for each
Note: Said Committee has determined that on said Bonds and Notes
$50.00 or fraction thereof be­
having five years or less to run to maturity, when selling below 90 or above
ginning at $250.00
110, the rates specified for Bonds, generally, shall apply.
The minimum commission (on
CALLED SECURITIES
stocks selling at 50c and above)
on an individual transaction
On Securities which, pursuant to call or otherwise, are to be redeemed
within twelve months:
shall be not less than $1.00.
This provision shall not apply
The Committee on Quotations and Commissions has determined that the
on transactions where the
above rates do not apply to securities called for redemption within twelve
amount involved is less than
months. On such securities the rates of commission may be mutually agreed
upon.
$15.00

CINCINNATI
Ashbrook, Raymond & Co., 637 Dixie Terminal
IRWIN, E. U. & CO., 215 Fourth National
EUSTIS, GEO. & CO., 810 Fourth National
Bank Bldg.
Bldg.
Bank Bldg.
IRWIN BALLMAN CO., THE, First National
ASSEL, GOETZ & MOERLEIN, INC., 218
Field, R. E. & Co., 1124 Union Central Bldg.
Bank Bldg.
Provident Bank Bldg.
FIFTH-THIRD SECURITIES CO., 14 W.
Lepper, A. & Co., 309 First National Bank Bldg.
BARTLETT, BEN/. D. & CO., 313 Vine Street
Fourth Street.
MURRAY, C. C. & CO., 706 Union Trust Bldg.
BREED AND HARRISON, INC., 504 First
FIRST INVESTMENT & SECURITIES CORP.
Reynolds, Brett & Ernst, Inc., 1127 Union Trust
National Bank Bldg.
First National Bank Bldg.
Bldg.
Bruner & Reiter Co., 503 Union Trust Bldg.
Stephenson & Potter, 704 Union Central Bldg.
Fox, W. E. & Co., 600 Fourth National Bank Bldg.
Central Trust Co., 4th & Vine Streets
Van
Lahr, Doll & Isphording, Inc., 420 Provident
Gradison, W. D. & Co., 408 Dixie Terminal Bldg.
Bank Bldg.
Grau & Co., 1024 Union Central Bldg.
COHLE & TYREE CO., 711 Union Trust Bldg.
WEIL,
ROTH & IRVING CO., 217 Dixie
Hill, Alfred & Co., 207 Traction Bldg.
DOMINICK & DOMINICK, Mercantile Li­
Terminal Bldg.
brary Bldg.
HUTTON, W. E. & CO., First National Bank
Westerfield & Co., 1003 Union Trust Bldg.
Bldg.
Dunlap, T. Oliver, 407 Mercantile Library Bldg.
Westheimer & Co., First National Bank Bldg.
Cincinnati Stock Exchange Officers:
FRACTIONAL SHARES
W. D. Gradison, Pres,
Charles H. Tobias, V. P.
Guy D. Ballmann, Tr.
Richard Seving, Sec.
There shall be charged a Commission not less than 50 cents on fractiona
shares.
SCHEDULE OF RATES OF COMMISSION
There shall be charged the following commissions:
As to stocks and rights which are listed on the New York Stock Exchange,
the Commission shall not be less than are provided by the rules of the New
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_____________
Not less than
3c
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 7Ac
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
RATES TO MEMBERS—GIVE-UPS. On business for members of the
Selling at $10.00 per share and below $150.00 per share.Not less than 25c
Exchange when the principal is given up the Commission shall not be less
Selling at $150.00 per share and below $200.00 per share.Not less than 50c
than the rates given below:
Selling at $200.00 per share and below $300.00 per share.Not less than $1.00
Selling at $300.00 per share and below $400.00 per share.Not less than $1.50
ON STOCKS
Selling at $400.00 per share and over..................
Not less than $2.00
Price
Rate Per Share
MINIMUM COMMISSION ON STOCKS
Selling under $5.00 per share...... ......................
Not less than lc
Provided, however, that on every transaction which involves an amount
Selling
at
$5.00
but
under
$10.00
per
share_________
...Not
less than 3c
of $15.00 or more, the minimum commission shall be not less than $2.50.
Selling at $10.00 and above...____
__________________ Not ICS3
less LllClil
than 4c
---------------------------------------------------------------.ilUU
A transaction which involves under $15.00, the minimum commission shall
RATES
TO
MEMBERS—CLEARANCE
BUSINESS.
On
business
be as determined by the broker.
for members of the Exchange when the principal is not given up, the com­
There shall be charged the following Commission:
mission shall be not less than on the above give-up basis, plus 5 cents per
ON RIGHTS AND WARRANTS
share additional, but in no event over the total commission.
Price
Rate Per Right
ON RIGHTS AND WARRANTS
or Warrant
Selling under 50c.................................................... (as mutually agreed upon)
On business for members of the Exchange, the Commission on Rights and
Selling at 50c but under $1.00........................................... Not less
than3c
Warrants, regardless of whether the principal is given up, or is not given
Selling at $1.00 but under $5.00........................................ Not less
than5c
up, the Commission shall not be less than A cent per Right or Warrant.
Selling at $5.00 but under $10.00........
Not less than 7 Ac
Selling at $10.00 and above______...___________.....Not less than 15c
ON BONDS
MINIMUM COMMISSION ON RIGHTS AND WARRANTS
On business for members the Commission on Bonds shall not be less than
Provided, however, that on every transaction which involves an amount
40 cents per $1,000 par value of Bonds.
of $5.00 or more, the minimum Commission shall be not less than $1.00.
BONDS. The Commission charge on all bonds, except that of U. S.
A transaction which involves under $5.00, the minimum Commission shall
Bonds, is one-quarter of one per cent on the par value. The Commission
be as determined by the broker.
charge on U. S. bonds is one-eighth of one per cent.
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

1974

LOCAL STOCK EXCHANGE FIRMS

Borton & Borton, 810 Hanna Bldg.
Ettinger & Brand, 200 National City Bldg.
Fenner, Beane & Ungerleider, Leader Bldg.
Will S. Halle & Co., 511 Swetland Bldg.
Hayden, Miller & Co., 1250 Union Trust Bldg.
Hord, Curtiss & Co., 1201 Union Trust Bldg.

Ledogar, Clark & Co., 882 Union Trust Bldg.
Livingston & Co., 1289 Union Trust Bldg.
Merrill, Hawley & Co., 1483 Union Trust Bldg.
Maynard H. Murch & Co., 1186 Union Trust Bldg.
Murfey, Blossom & Co., 901 Guardian Bldg.
Otis & Co., 216 Superior Ave.

CLEVELAND

HORNBLOWER & WEEKS, 1040 Union Trust
Bldg.

Jackson & Curtis, 1737 Union Trust Bldg.

E. A. Pierce & Co., 215 Cuyahoga.
PULLIAM, EMERY & CO., 1205 Swetland
Bldg.

David G. Skall & Co., 2031 Union Trust Bldg.
W. S. Snyder & Co., 2027 Union Trust Bldg.
Schultz & Co., L. J„ 729 Union Tr. Bldg.
Wellsted, Macklin & Co., 1280 Union Trust Bldg.
Witt, Kraus & Co., 1338 Union Trust Bldg.

PAINE, WEBBER & CO., 1111 Terminal Tower
Bldg.

Minimum commission $1.00

J. P. Drach, Pres.
Fred H. Emery, Tr.

P. W. Brown, V. P.
C. B. Whitcomb, See.

Minimum commission $2.00

SCHEDULE OF COMMISSION RATES
Prices

7Hc
15c
25c
30c
50c
75c
$1.00

Above $1 but under $10
$ 10 but under $ 25
25 but under 50
50 but under 125
125 but under 300
300 but under 500
500 and over

Cleveland Stock Exchange Officers:

Commission

Stocks Selling
$1 and under

per Share
3c

Commission on bonds, $2.50 per $1,000, except on bonds with two
years or less to maturity—$1.25 per $1,000.00.
In regard to stocks listed on both the Cleveland and New York Stock
Exchanges, the rate of commission of the respective exchanges whichever is
lowest shall apply on sales of such stocks on the Cleveland Exchange.

COLUMBUS
Archer, Hugh M„ 9 E. Long St.
BANCOHIO SECURITIES CORP., Gay and
High Sts.
BROWER, INC., RAYMOND T., Huntington
Bank Bldg.

Fenner, Beane & Ungerleider, Chamber of Com­
merce Bldg.

MEEKER, CLAUDE, 8 E. Broad St.

FREEMAN, FREDERICK W., 16 E. Broad St.

STEVENSON, VERCOE, FULLER & LORENZ,
Huntington Bank Bldg.
VERCOE & CO., Huntington Bank Bldg.

Gray & Co., Eugene, 16 E. Broad St

Columbus Stock Exchange Officers:

Herman J. Engler, Pres.
Luke Green, Sec. and Treas.

O’Brien & Laning, Huntington Bank Bldg.

COMMISSION RATES

Frederick W. Freeman, V. P.

Bank stocks—$1.00 per share

25c per share

PHILADELPHIA
Appenzellar, Allen & Hill, 518 Stock Exchange
Bldg.
BACHE, J. S., & CO., Pennsylvania Bldg.
Baker, Weeks & Harden, Commercial Trust Bldg.

Barclay, Moore & Co., 123 S. Broad Street.
Barney, Chas. D., & Co., 1428 Walnut Street.
Bayuk Brothers, Packard Bldg.
Bean, Chas. H., & Co., 1528 Walnut Street.
Belzer & Co., Land Title Bldg.
Biddle & Co., Moncure, 1520 Locust Street.

BIDDLE, WHELEN & CO., 1606 Walnut St.
BIOREN & CO., 1503 Walnut Street.

Boenning & Co., 1606 Walnut Street.
BROWN BROTHERS, HARRIMAN & CO.,
1531 Walnut Street.

Bryan, Pennington & Colket, 123 S. Broad St.
Butcher & Sherrerd, 220 Real Estate Trust Bldg.
Carstairs & Co., 1510 Walnut Street.
CASSATT & CO., Commercial Trust Bldg.
CLARK, E. W., & CO., 16th and Locust St.

DeHaven & Townsend, 1415 Walnut Street.
Diffenderffer & Co., 1611 Walnut Street.
Dixon & Co., 1411 Chestnut Street.
Downey & Co., 123 S. Broad Street.
DREXEL & CO., 15th and Walnut Streets.
EASTMAN, DILLON & CO., 1506 Walnut St.

Elkins, Morris & Co., 305 Land Title Bldg.
Emory, Freed & Co., 109 S. 3rd Street.
Flynn, Long & Co., 1500 Walnut Street.
Fox, Geo. S„ & Sons, 1600 Girard Trust Bldg.

French, E. W„ & Co., 123 S. Broad Street.
Fuller, W. A. M., & Co., 1510 Chestnut Street.
Garber, F. W„ & Co., 115-117 S. 5th Street.
Gayley, McCreary & Co., 817 Packard Bldg.
Glendinning, Robt., & Co., Packard Bldg.
Goodbody & Co., 1424 Walnut Street.
GRAHAM, PARSONS & CO., 1422 Walnut St.

Greene & Co., 612 Phila. Stock Exchange Bldg.
Haines, Collier & Company, 1520 Locust Street.
Hammitt & Co., 602 Phila. Stock Exchange Bldg.
Hamstrom & Co., 202 Real Estate Trust Bldg.
Hano, Wasserman & Co., 1616 Walnut Street.
HARRISON & CO., 123 S. Broad Street.

Hecker & Co., S. W. Cor. 6th and Chestnut Sts.
HOPPER, SOLIDAY & CO., 1420 Walnut St.
HORNBLOWER & WEEKS, 1429 Walnut St.

Jenks, Gwynne & Co., 1516 Locust Street.
Jones, Miller & Co., Commercial Trust Bldg.
Kennedy & Co., 1200-01 Land Title Bldg.
Laird, Bissell & Meeds, 1528 Walnut Street.
LILLEY, & CO., 1520 Packard Bldg.

MacDonald & Co., 234 Real Estate Trust Bldg.
MacMeekin & Co., 123 S. Broad Street.
McCormack, J. L., & Co., 800 Phila. Stock
Exchange Bldg.
McCREERY, SAMUEL, & CO., 1518 Walnut
Street.
McLaughlin W. J. & Co., 508 Stock Exchange Bldg.

Monges, Davis & Lang, 314 Otis Bldg.
Montgomery, Scott & Co., 123 S. Broad Street.

Price
Philadelphia Stock Exchange Officers:

Frank L. Newburger, Pres,
Howard Butcher, Jr., V. P.
Frank C. Matthews, Sec.
Frederick P. Ristine, Tr.
John R. Huhn, Jr., A. Sec. and A. Tr. Thomas B. Gravatt, And.
COMMISSION RATES
BONDS

Bonds and notes having over one year to run, not less than $2.50 for
each $1,000 par value.
Bonds and notes having one year or less to run, and obligations of the
United States, Porto Rico, Philippine Islands and States, Territories and
Municipalities therein, and Bonds or Notes of Foreign Countries having five
years or less to run, such rates of commission to members and non-members
as may be mutually agreed upon.

Moore, E. J., & Co., 141 South Fourth Street.
Morgan, Reed A., & Co., 123 South Broad Street.
Moyer & Co., 1500 Walnut Street.
Newbold’s Son, W. H., & Co., 1517 Locust Street.
Newburger, Loeb & Co., 1423-25 Walnut Street.
Palmer & Co., E. W., 334 Commercial Trust Bldg.
Parrish & Co., 212 South 15th Street.
Phillips, Samuel K., & Co., 1317 Packard Bldg.
Ristine, F. P., & Co., 123 S. Broad Street.
Sailer, A. J. & Co., 113 S. 5th Street.
Seeler & Co., 110 S. 3rd Street.
Sloane & Co., Phila. Stock Exchange Bldg.
Smith, Charles, & Sons, 901 Commercial Trust
Bldg.
SMITH, EDWARD B., & CO., 1411 Chestnut
Street.

Snyder, George E„ & Co., 600-601 Phila. Stock
Exchange Bldg.
Snyder, R. M. & Co., 1520 Locust Street.
Sparks, J. W., & Co., 1510 Chestnut Street.
Starr & Co., 123 S. Broad Street.
Stetson & Blackman, 1818 Packard Bldg.
Trimble & Co., 1326 Walnut Street.
Turner, Gill & Crouter, 611 Packard Bldg.
Van Leer, Levis & Co., Lincoln Liberty Bldg.
Walsh & Co., 422 Phila. Stock Exchange Bldg.
Wheeler & Co., 1100 Girard Trust Bldg.
Wilmer & Co., 123 S. Broad St.
Wolf Bros. & Co., 213-215 S. Broad Street.
WOOD, A. C., JR., & CO., 511 Chestnut St.

Wurts, C. S. & Co., 1327 Walnut Street.
Wurts, Dulles & Co., Philadelphia Bank Bldg.
Wyckoff & Co., Edward G„ 1528 Walnut Street.
Yarnall & Co., 1528 Walnut Street.
STOCKS

Rate Per Share

Selling under 50c____ ____ _______________ ______ As mutually agreed
Selling at 50c and above, but under $1.00____
Not
less than3c
Selling at $1.00 and above, but under $10.00________ Not
less than7>£c
Selling at $10.00 and above, but under $25.00............... Not
less than12}^c
Selling at $25.00 and above, but under $50.00_______ Not
less than15c
Selling at $50.00 and above, but under $75.00_______ Not
less than17M>c
Selling at $75.00 and above, but under $100.00............Not less than 20c
Selling at $100.00 and above, but under $200.00_____ Not less than 25c
Selling at $200.00 and above, but under $250.00_____ Not less than 30c
For each $50.00 increase in price 5c per share additional.
Rights

STOCK SUBSCRIPTION RIGHTS
To Non-members

Selling under 50c________________________ To be mutually agreed upon
Selling at 50c and above, but under $1.00____ Not less than 3c per right
Selling at $1.00 and above, but under $5.00___Not less than 5c per right
Selling at $5.00 and above, but under $10.00..Not less than 7J^c per right
Selling at $10.00 and above________________ Not less than 15c per right
The minimum commission on any transaction for nonmembers shall be
$1.00.

Further Information on firms appearing In bold face type will be found In the selected list of Investment Dealers following bank list In each clti

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

LOCAL STOCK EXCHANGE FIRMS

1975

PITTSBURGH
Askin, George K., Union Trust Bldg.
Askin & Company, J. M., Columbia Bk. Bldg.
Ballard & Townsend, Keystone Bank Bldg.
Barbour & Company, John B„ Magee Bldg.
Carothers & Company, James, Union Bank Bldg.
Edmundson, Jr., Eli, Columbia Bank Bldg.
EDWARDS & COMPANY, H. S. Union Bank
Bldg.
Foster & Company, Bayard, 244 Oliver Bldg.
Gammack & Company, Union Trust Bldg.
Giles & Co., R. C„ Columbia Bank Bldg.
Goldsborough & Company, W. W„ Union Bank
Bldg.
Halsey & Co., C. D., Investment Bldg.

HEMPHILL, NOYES & CO., 446 Wood St.
Hetzel & Company, Henry G., Benedum-Trees
Bldg.
Hill, Wright & Frew, Union Trust Bldg.
Holmes & Company, J. H„ 419 Wood St.
HORNBLOWER & WEEKS, First National
Bank Bldg.
Kane, John A., Columbia Bank Bldg.
Kay, Richards & Company, Union Trust Bldg.
Marshall & Company, Union Bank Bldg.
MASTEN & COMPANY, A. E., 323 Fourth
Ave.
McJunkin, Patton & Company, 414 Union Bank
Bldg.

McLaughlin, McAfee & Company, Clark Bldg.
Moore, Leonard & Lynch, Union Trust Bldg.
MORRIS, BROWN & COMPANY, 316 Fourth
Ave.
Nuttall & Company, R. V., Park Bldg.
Preston, Watt & Schoyer, Union Bank Bldg.
Reynolds & Company, Grant Bldg.
Robinson & Orr, 248 Fourth Ave.
Stout & Company, Investment Bldg.
Vockel & Company, S. M., Diamond Bank Bldg.
WELLINGTON & CO., Union Trust Bldg.
Wettach & Company, 218 Fourth Ave.
Wettengel & Company, A. C„ Peoples Bank Bldg.

RATES OF COMMISSION
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 20c a share.............. _............................................$0,005
Stocks selling at $0.20 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
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.

Pittsburgh Stock Exchange Officers:
Paul W. Leitch, Asst, to the Pres.
R. S. Richards, Pres.
Wm. J. Bauer, Treas.
A. L. Brinham, Sec.
Samuel Carothers, Vice-Pres.

RICHMOND
Branch, Cabell & Co., Law Bldg.
Mason-Hagan, Inc., 916 E. Main Street.
SCOTT & STRINGFELLOW, Mutual Bldg.
Branch, Thomas & Co., 1101 E. Main Street.
Murphy, G. M.-P. & Company, 923 E. Main Street
Wheat, Galleher & Company, American Nat’l Bk.
Bryan, Kemp & Company, 911 E. Main Street.
Bldg.
Burch, Caskie G. &Company, 1118 E. Main Street.
NOLTING, FRED’K E. & CO., INC., 907 E.
Davenport & Company, 113 E. Main Street.
Main St.
Williams, John C. & Company, 1107 E. Main St.
Richmond Stock Exchange Officers:
Walter S. Robertson, Pres., Scott & Stringfellow
E. Addison Rennolds, Vice-Pres., Thomas Branch & Co.
Henry C. S. Patterson, Secretary & Treasurer, Mason-Hagan, Inc.
BONDS
COMMISSIONS
Municipals, public utilities, and rails...................................25c per hundred
Stocks
All others.................................................. ..........................50c “
Selling under $15 per share___________ ____ ________ 12^c per share
Selling at $15 and under $50.................................. ............. 25c
Selling at $50 and under $150.................................... ....... 50c
Selling at $150 and over______________ ____________ 1.00

SALT LAKE CITY
Baglin, George, Newhouse Bldg.
Bemis, G. L., Newhouse Bldg.
Badger, R. A. & Co., 16 West 2nd So. Street.
Barclay, Featherstone & Co., Newhouse Bldg.
Beason, Ross & Co., Beason Bldg.
CHILD, BARCLAY CO., Exchange Bldg.
Clark, W. H., Boston Bldg.
Cole Allen Co., Atlas Bldg.
Dixon, B. W. Co., Scott Bldg.

Conrad, W. X., Walker Bank Bldg.
Doming, J. H., Felt Bldg.
Davies, Badger & Co., 23 West 2nd So. Street.
Doscher, H. W„ Walker Bank Bldg.
First Securities Corp.
Havenor, Pett & Co., Newhouse Bldg.
HOGLE, J. A. & CO., 132 So. Main Street.
Lewis & Ballif, 119 So. Main Street.
Lynch, J. C. & Co., Kearns Bldg.

Larson, A. R., Elks Club.
Mandell, J. J., Beason Bldg.
Nebeker, W. D., Exchange Bldg.
Pratt & Snow, Walker Bank Bldg.
Rankin, Lester, Felt Bldg.
Thomas, Arthur Inc., Newhouse Bldg.
Watson, Geo. H. & Co., 25 East So. Temple Street
Weiler, W. S., Exchange Bldg.
Whitney, C. L., Exchange Bldg.
Woolley, F. R., Walker Bank Bldg.

Sait Lake City Stock Exchange Officers:
H. B. Cole, President
I. D. Lowe, ls< Vice-Pres.
W. H. Child, 2nd Vice-Pres,
J. C. Lynch, 3rd Vice-Pres.
J. H. Deming, Sec. and Treas.
E. P. Emery, Asst. Sec.

SEATTLE
Blackford, John C., Hoge Bldg.
BLYTH & CO., 1411 Fourth Ave.
Bramhall & Stein, Hoge Bldg.
Brown-Jeklin Co., Exchange Bldg.
George H. Burr, Conrad & Broom, 707 Second Ave.
DRUMHELLER, ERLICHMAN & WHITE,
Second and Columbia.
Easter & Co., F. K., 717 Second Ave.
Eberting, Erwin & Miller, Inc., Exchange Bldg.
FERRIS & HARDGROVE, Exchange Bldg.
First National Co., Second and Columbia.
Fix & Co., William H., Dexter Horton Bldg.
Greening & Co., Thos. B., Exchange Bldg.
Harper & Son, Wm. P„ Hoge Bldg.

Hawkins & Co., R. M„ Exchange Bldg.
Herrin & Co., H. M., Exchange Bldg.
Kutz & Co., John A., Exchange Bldg.
Lanser & Co., J. F., 812 Second Ave.
Latimer & Co., A. G., Dexter Horton Bldg.
Lockett & Co., G., Railway Exchange Bldg.
Logan & Bryan, Exchange Bldg.
Marine National Co., Second and Spring.
McConahy, C. D„ American Bank Bldg.
Meiklejohn & Brown, 1321 Smith Tower.
North Pacific Finance Corp., 1520 First Ave.
Oakes, Prescott, 509 Crary Bldg.
Pacific National Co., Second and Madison.
Puget Mortgage Securities, Inc., 1329 Third Ave.

Seattle Stock Exchange Officers:
Charles G. Mullen, Pres.
F. K. Easter, Vice-Pres.
Harry J. Markey, Sec.
J. F. Lanser, Treas.
J. G. Rake, Exec. Sec.
Charles T. Donworth, Counsel
BATES OF COMMISSION
Per Minimum
On Stocks Selling:
Share Charge
Under $1.00 per share_______________
.. 5/
$2.50
At $1.00 and under $2.50 per share.........
2.50
-12 y2t
At $2.50 and under $5.00 per share.......
.. 15*
5.00
At $5.00 and under $25 00 per share....
5.00
.. 25*
At $25 00 and under $50.00 per share...
- 50*
5.00
At $50.00 and under $75.00 per share...
.. 75*
5.00
At $75.00 and under $100.00 per share..
..$1.00
5.00
At $100.00 and under $150.00 per share.
..$1.50
5.00

Pratt & Co., H. P„ Hoge Bldg.
Price & Co., John E , National Bk. of Commerce
Bldg.
The Quinn Smith Co., Dexter Horton Bldg.
Riker & Co., Inc., Joseph M., Hoge Bldg.
Rollins & Sons, E. H., Hoge Bldg.
The Seattle Co., Second and Columbia.
Smith & Strout, Inc., Leary Bldg.
Speckert, Frank J., 105 Cherry St.
Theis & Co., A. J., Empire Bldg.
Underwriters Finance Corp., Colman Bldg.
United National Corporation, Second and Colum­
bia.
Witter & Co., Dean, 1301 Fourth Ave.

At $150.00 and over per share, the commission shall be increased 50* for
each $50.00 or fraction thereof increase in selling price. The minimum
charge shall be $5.00.
On all transactions where the total amount of money involved is less than
$25.00, the commission charge shall be discretionary with the member.
In no case need the commission on warrants and/or rights selling under
fifty cents exceed 5% of the money involved in the trade.
BONDS
$5.00 per $1,000 par value or fraction thereof.

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

THE NUMERICAL
SYSTEM
Jl

HE A.B.A. NUMERICAL SYSTEM
has been of definite value to business
and banking in the United States and
we are proud of our part in that system
as official numbering agents of American
Bankers Association. Each bank listed
in this Directory has its transit number
shown next to its name.

T

The entire system is explained and
mapped in the first part of the Direc­
tory.
We devote a special publication to
this numerical system which lists by
numbers and by banks and your bank
should have a copy of the latest
number. Write for the Key to the
Numerical System, A. B. A., Volume
XIV, Published September 15, 1932.
Price $2.50.

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Federal Reserve Bank of St. Louis

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