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LOCAL STOCK EXCHANGE FIRMS
LOS ANGELES
Adams, Thomas E. & Co., 650 S. Spring St.
Akin-Lambert Co., Room 401, 639 So. Spring St.
Bacon & Co., Rm. 924, 485 California St.
Bankamerica Co., 650 South Spring St.
BANKS, HUNTLEY & CO., 634 South Spring
Barnes, Lester & Co., Rm. 700, 621 So. Spring St.
Bayly Brothers, Inc. of California, 727 West 7th St.
Bissinger, Frederick M. & Co., 634 So. Spring St.
Brashears, G. & Co., 510 So. Spring St.
Conrad, Bruce & Co., Room 501,629 So. Spring St.
CAVALIER, WM. & CO.,
Ground Floor Lobby, 523 W. 6th St.
Citizens Los Angeles Co., 453 So. Spring St.
Crisler, L. A. & Co., Room 702, 639 So. Spring St.
Crowell, Weedon & Co., Room 1103, 650 So.
Spring St.
Dickinson, R. B„ 427 Union Dr.
Dobbs, Wagenseller & Durst, Room 200, 626 So.
Spring St.
Dunk-Harbison Co., 634 S. Spring St.
Ellis, S. H„ Inc., Room 1119, 639 So. Spring St.
Fastnow, William C., Rm. 711, 217 W. 7th St.

Friedlander & Speth, Inc., Room 607, 650 So.
Spring St.
GRANT, D. G. COMPANY, Room 415, 453
So. Spring St.
Grant, Merrick & Co., Rm. 424, 650 S. Spring St.
Graves, Banning & Co., Room 600, 629 So. Spring
St.
Gregory, R. N. & Co., 210 W. 7th St.
Hay, Earl G„ Room 926, 650 So. Spring St.
Hill, Reed & Co., Rm. 805, 621 S. Spring St.
HUTTON, E. F. & CO., 623 South Spring St.
Jameson, A. L. & Co., 650 South Spring St.
Kerr, J. D. & Co., 621 South Spring St.
Laswell & Co., Room 215, 609 So. Grand Ave.
Lewis, M. H. & Co., Room 420, 453 So. Spring St.
Leib, Keyston & Co., 50 Post St., San Francisco,
Calif.
Logan & Bryan, 636 South Spring St.
Los Angeles Investment Securities Co., 1033 So.
Broadway.
MacLaughlin, Leo. G., Co., 54 S. Los Robles Ave.,
Pasadena, Calif.
Martin, James R. & Co., 647 South Spring St.
Miller, Clyde E., 1262 Third Avenue
Miller, Revel & Co., Room 510, 650 So. Spring St.

Morris, A. W„ Room 1002, 325 W. 8th St.
Pacific Company of California, 621 South Hope St.
Paul, W. G„ 618 South Spring St.
Phillips, James A., Jr., Room 210, 412 W. 6th St.
PIERCE, E. A. & CO., 515 West 6th St.
Rath, Howard G. Co., Ground Floor, 523 W. 6th
St.
Robinson, B. B. Rm. 1316, 639 So. Spring St.
Ruddock, A. B„ 650 So. Grand Ave.
Searl-Merrick Co., Room 810, 634 So. Spring St.
SECURITY-FIRST CO., 215 W. 6th St.
STAATS, WM. R. CO., 640 South Spring St.
Sutro & Company, Room 300, 210 W. 7th.
Tucker, Reagan Co., Rm. 814, 110 Pine St., Long
Beach, Calif.
Tulk & Co., Room 1007, 219 W. 7th St.
Walker, M. S. & Co., 125 E. 1st St., Long Beach,
Calif.
Welch, Brian K„ 623 So. Hope St.
Wilke, Fred L„ 530 W. Sixth St.
Young-Clarke & Co., Room 212, 215 W. 7th St.

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

Los Angeles Local Stock Exchange, Officers

I James R. Martin, Tr.
W. G. Paul, Sec.
\

MINIMUM RATES OF COMMISSION
In Effect June 1, 1933

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 25c_________
$2.00
$ MX
25c and under 50c__
.05
2.50
________$ 2.50
50c and under $1.00..
________ 3.00
2.50
7.J4
$ 1.00 and under $
»_______ 4.00
2.50
.12*$
8 3.00 and under $
>_______ 7.50
■12*$
2.50
? 5.00 and under $
>_______ 10.00
2.50
.12*$
1_______ 17.50
.25
2.50
)_______ 20.00
.25
2.50
.25
>._.......... 22.50
2.50
1......... . 25.00
.25
2.50
)_______ 30.00
.30
3.00
>-.........
30.00
.30
3.00
)_______ 30.00
.30
3.00
At $200.00 and over per share, the commission shall be increased $5.00
per 100 shares additional for each $50.00 or fraction thereof increase in
selling price. The minimum charge shall be one-tenth (l/10th) the com­
mission charged for 100 shares. The commission on odd lots shall be on
the pro rate basis.
BONDS
On Bonds selling at:
Minimum
$10.00 and above but under $100.00._$1.75 per $1,000 par value
$100.00 and up to $125.00_______ $22.50 per $10,000 par value
Less than $10,000 lots_____________ $2.50 per $1,000 par value $2.50
$125.00 and over—100 share rates for stocks apply for $10,000
par value____________________ ____ ___________________
Less than $10,000 par value............................................................ Pro Rata
When selling under $10.00 the commission shall be by mutual
agreement.
U. S. Government Bonds....... .............*$1.25 per $1,000 par value
*In lots of less than $1,000 par value minimum charge is optional.

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 all transactions where the total amount of money involved is $10.00
or less, the commission charge shall be optional and where the total amount
of money involved is in excess of $10.00 but less than $50.00 the commis­
sion charge shall be discretionary with a member subject to a minimum
charge of $2.50 for each transaction.
In billing less than board lots the commission shall in no case be greater
than that which is designated for the transaction involving a board lot.
Commission charges on orders in excess of Board Lots shall be as follows:
When an order is executed for a number of shares involving a round lot of
100 shares and an odd lot of, say 30 shares, the commission to be charged
is the usual rate for the round lot and pro rata for the odd lot, provided the
order is executed in its entirety. However, when a customer enters on
order to sell 130 shares at a limit and the broker executes the order within
the limit for 100 shares and there remain 30 shares which is thereafter
converted by the customer into a market order, members are required to
treat the 30 shares as an odd lot and charge the odd lot commission and
may not charge pro rata of the round lot rate. In any case when a customer
changes his limit the unfilled balance of the order must be treated as a
new order.
Members shall charge customers insurance and postage in connection
with ALL transaction OUTSIDE of Los Angeles.
PENALTY for violation of the above rates is suspension and fine, or
expulsion from the Exchange.
NOTE:
Special rates are allowed on Stocks listed on both New York and Los 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.
1725


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Federal Reserve Bank of St. Louis

LOCAL STOCK EXCHANGE FIRMS

1726

SAN FRANCISCO
Adams, W. W. & Co., 485 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.
Brayton, Douglass & Co., 211 Montgomery St.
Bremer, Milton A„ 256 Montgomery St.
CAVALIER, WM. & CO., 121 Sutter St.
Coleman, Jr., Robert L., 133 Montgomery St.
Cooke, Fisher & Co., 351 Montgomery St.
Curran & Hooker, 155 Sansome St.
Davis, Skaggs & Co., 521 One Eleven Sutter Bldg.
Doyle, Feeney Co., 2801 Russ Bldg.
Ehrman, Albert L„ 519 California St.
Fagan Eastland & Co., 1 Montgomery St.,
Fllmer, Bradford & Maxwell, 37 Montgomery St.

Greenwood-Raegio & Co., 1501 Russ Bldg.
Grimes & Swift, 500 Financial Center Bldg.
Haley, S. M., 315 Montgomery St.
Hellmann-Wade & Co., 517 California St.
Hendrickson, Shuman & Co., 2404 Russ Bldg.
Holt & Company, 155 Sansome St.
Howell & Dwyer, 485 California St.
Jenkins, Reginald C., 401 Montgomery St.
Johnson, Cyrus B., 155 Sansome St.
Kahn, Sidney P., 482 California St.
Keyston F. B. Co., 50 Post St.
Koshland, Max I. & Co., Suite 12, Mills Bldg.
Leib, Keyston & Co., 50 Post St.
Lilienthal, M. P., 1204 Russ Bldg.
Lundborg, Irving & Co., 604 Kohl Bldg.
Manheim, Dibbern & Co., 440 Montgomery St.
McDonnell & Co., 633 Market St.
McNear & Company, 362 Russ Bldg.

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

Meigs, J. J. & Co., 315 Montgomery St.
Newell, Murdoch, Railey & Co., 232 Montgomery
St.
Norris, L. H. & Son, 1272 Russ Bldg.
Parrish, Earl T., 50 Post St.
PIERCE, E. A. & CO., 301 Montgomery St.
Raiss, Carl & Co., 256 Montgomery St.
St. Goar, Chas. E., 1029 Russ Bldg.
Shaughnessy, Frank C. & Co., 604 One Eleven
Sutter Bldg.
Steinhardt & Co., 429 Russ Bldg.
Stern, John D„ 155 Sansome St.
Strassburger & Co., 133 Montgomery St.
Sutro, Adolph G„ 155 Sansome St.
SUTRO & CO., 407 Montgomery St.
Walston & Co., 485 California St.
Wilson, Francis A., 1312 Russ Bldg.
Witter, Dean & Co., 486 California St.

BONDS
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 AprU 28, 1930
Minimum
On Stocks Selling
Charge
t Under $1.00 per share...................................$ 3.00 per 100 shares..$2.50
(Odd lots 12>^c per share)
At $ 1.00 and under $ 3.00 per share....... $ 4.00 per 100 shares..$2.50
(Odd lots 12^c per share)
At $ 3.00 and under $ 5.00 per share....... $ 7.50 per 100 shares..$2.50
(Odd lots 12Hc per share)
At$ 5.00 and under $ 10.00 per share........$10.00 per 100 shares..$2.50
(Odd lots 12)4c per share)
At $ 10.00 and under $ 25.00 per share........$17.50 per 100 shares..$2.50
(Odd lots 25c per share)
At $ 25.00 and under $ 50.00 per share....... $20.00 per 100 shares..$2.50
(Odd lots 25c per share)
At $ 50.00 and under $ 75.00 per share....... $22.50 per 100 shares..$2.50
(Odd lots 25c per share)
At $ 75.00 and under $100.00 per share....... $25.00 per 100 shares..$2.50
(Odd lots 25c per share)
At $100.00 and under $200.00 per share....... $30.00 per 100 shares..$3.00
(Odd lots 30c per share)
At $200.00 and over per share, the commission shall be increased $5.00
per 100 shares additional for each $50.00 or fraction thereof increase in
selling price. The commission on odd lots shall be on a pro rata basis. The
minimum charge shall be l/10th the commission charged for 100 shares.
t In no case need the commission on rights selling under fifty cents exceed
five per cent of the money involved in the trade.

NOTE: Whenever the commission charge based on the odd lot rate is
higher than a charge for a round lot (100 shares) of the same stock, the
latter amount may be charged.
On all transactions where the total amount of money involved is less than
$50.00, but not less than $10.00, the commission charge shall be discretionary
with the member, subject to a minimum charge of $2.50 for each transaction.
When the amount involved is less than $10.00 the commission charge shall
be entirely discretionary.
Orders executed locally in stocks listed on the New York Stock Exchange
or the New York Curb Exchange shall take the established New YorkWestern rates for such stocks which differ from the above schedule only in
the round lot rates as follows:
On New York Stock Exchange stocks:
At $ .50 per share and under $1.00 per share............$ 5.00 per 100 shares
At $1.00 per share and under $5.00 per share..........$10.00 per 100 shares
On New York Curb Exchange Stocks:
At $1.00 per share and under $3.00 per share............ $ 7.50 per 100 shares
The MINIMUM CHARGE for business transacted on the New York
Stock Exchange or the New York Curb Exchange shall be $5.00, except
that when the total amount involved is less than $50.00, the minimum
charge is $2.50; and except that when the amount of money involved is
less than $10.00, the commission charge shall be optional.
Insurance and postage at the rate of 15c for each $1,000 of value or part
thereof shall be charged on all non-negotiable securities shipped for customers
whether eastbound or westbound, with a minimum charge of 30c. Insurance
and postage at the rate of 20c for each $1,000 of value or part thereof shall
be charged on all negotiable securities shipped for customers, whether eastbound or westbound, with a minimum charge of 45c. If a member accounts
to a customer for several orders involving one shipment, the total proceeds
may be added and the insurance and postage charge may be made on the
total proceeds at the rates above specified.

DENVER
Carroll & Co., Inc., Guardian Trust Bldg.
Trevor Currie, 437 U. S. National Bank Bldg.
Cleek & Co., 319 C. A. Johnson Bldg.
Coe & Co., W. L., 1026 Patterson Bldg.
Downs & Co., 707 United States Nat’l Bk. Bldg.
Finley Dye, 302-309 E. & C. Bldg.
Foreman & Co., 213 California Bldg.

W. R. Given & Co., Suite 804 Interstate Trust Bldg.
H. H. Hurd & Company, 631 U. S. Nat’l Bank
Bldg.
Ralph G. McFann & Co., 421 U. S. Nat’l Bank
Bldg.
Meyer-Martin & Co., Suite 436 U. S. Nat’l Bank
Bldg.

Denver Stock Exchange Officers:
Warren R. Given, Pres.
Harry A. Stern, V. P.

Nation Wide Investment Co., 2239 E. Colfax Ave.
Palmer & Co., Elihu, 300-28 E. & C. Bldg.
W. F. Ryan, Midwest Board of Trade, 1028 Pat­
terson Bldg.
Stern-Stovall Co., 404 Patterson Bldg.
A. F. Woodward, 521 U. S. National Bank Bldg.
R. E. Young & Company, 1706 Stout St.

Units of Trading (Board Lots)
A. Downs, Tr.
Ralph M. Davis, Sec.

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—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—Vi 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 Arms 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

1727

LOCAL STOCK EXCHANGE FIRMS

HARTFORD
Adams, Merrill & Co., 36 Pearl Street
Austin & Co., G. L„ 17 Lewis Street
Ballard & Company, 43 Pearl Street
Barnes & Co., Roy T. H.t 125 Trumbull Street
Bissell & Co., C. S„ 36 Pearl St.
Conning & Company, 50 Lewis Street

FRANCIS R. COOLEY & CO., 125 Pearl St.
Easland & Company, 49 Pearl Street.
Eddy Brothers & Co.. 33 Lewis Street
Goodwin Beach & Co., 94 Pearl Street
Paine, Webber & Co., 49 Pearl Street.

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

Perkins, Thomas C„ 36 Pearl Street.
Putnam & Company, 6 Central Row.
Riley, Charles W., 94 Pearl St.
Shaw, Aldrich & Co., 75 Pearl Street
STEVENSON, GREGORY & CO., 56 Pearl St.
Whaples, Viering & Co., 129 Trumbull Street
COMMISSION CHARGES
% of 1%
.12%
.25
.50
1.00
2.00
3.00
4.00
5.00

Commission
Commission
Commission
Commission
Commission
Commission
Commission
Commission
Commission

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

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

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

COMMISSIONS CHARGES
BONDS
Government..................................................... ................. --.12%c. per $100
per $100
All other bonds ................................................................... 25c.

Murphy, G. M. P. & Company, 1510 H St., N. W.
Waggaman, Brawner & Company, Inc., 1700 Eye
St., N. W.
Westheimer & Company, Woodward Bldg.
STOCKS
Under 50c a share........................ .................... .................... . 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
At $200 a share and above............. ................ %% of amount of transaction
Commissions on Rights shall be the same as those fixed for stocks.
Fractional shares:
,
Less than % share....................... ...............................25c. each transaction
% share and over............. .................... ......................50c. each transaction
Minimum charge of $1.50 on any single transaction except fractional
shares.

CHICAGO
Abbott, Hoppin & Co., 208 S. La Salle St.
Aldrich, F. C. & Co., 120 S. LaSalle St.
Apgar, Daniels & Co.. 120 S. LaSalle St.
BABCOCK, RUSHTON & CO., 135 S. LaSalle
St.

Gerwig, Frank L. & Co., 39 S. LaSalle St.

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

HALLGARTEN & CO., 120 S. LaSalle St.

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

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

Harris, Burrows & Hicks, 208 S. La Salle St.
Harris, Upham & Co., 135 S. La Salle St.
Hitchcock & Company, 39 S. LaSalle St.

BACON, WHIPPLE & CO., 135 S. LaSalle St.

HORNBLOWER & WEEKS, 39 S. LaSalle St.

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

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

CLARK, CHILDS & KEECH, 208 S. LaSalle

LAMSON BROS. & CO., 141 W. Jackson Blvd.

Cleary & Co., 120 S. LaSalle St.
Clement, Curtis & Co., 231 S. LaSalle St.

Lester. Carter & Co., 209 S. LaSalle St.
Lizars (Rawson) & Co., 231 S. LaSalle St.
McDonald, Frank E. & Co,, 120 S. LaSalle St.
Mills, W. S. & Co., 120 S. LaSalle St.

DAVIS, PAUL H. & CO., 37 S. LaSalle St.
Ditt, Paul C. & Co., 120 S. LaSalle St.
EASTMAN, DILLON & CO., 104 S. LaSalle St.
Ettinger & Brand, 105 W. Adams St.
Fairman, Perry & Co., 208 S. LaSalle St.
Faroll Bros., 141 W. Jackson Blvd.
Fenner, Beane & Ungerleider, Chicago Board of
Trade Bldg.
FIELD, GLORE & CO., 123 S. LaSaUe St.
Fisher (Vories) & Co., 105 S. LaSalle St.
Frank, A. R. & Co., 120 S. LaSalle St.
Fuller, Cruttenden & Co., 120 8. LaSalle St.

Hulburd, Warren & Chandler, 208 S. LaSalle St.
(Wayne) Hummer & Co., 105 W. Adams St.

Jackson & Curtis, 231 S. LaSalle St.
LAMBORN, HUTCHINGS & CO., 231 S.
LaSalle St.

MITCHELL, HUTCHINS & CO., 231S. LaSalle
St.
MOSELEY, F. S. & CO., 135 S. LaSalle St.
Munds, Winslow & Potter, 141 W. Jackson Blvd.
Norris & Kenly, 208 S. LaSalle St.
Noyes, David A. & Co., 208 S. LaSalle St.
OLIPHANT, JAS. H. & CO., 209 S. LaSalle St.
Paine, Webber & Co., 209 S. LaSalle St.
Patton, Joseph R. & Co., 120 S. LaSalle St.

Reinhardt, Daly & Co., 208 S. La Salle St.
Rothschild & Co., 105 W. Adams St.
Russell, Brewster & Co., 135 S. LaSalle St.
Sadler & Co., 105 S. LaSalle St.
Schuberth, Wm. A. & Co., 120 S. LaSalle St.
Shearson, Hammill & Co., 208 S. LaSalle St.
Shields & Company, 105 W. Adams St.
Shimmln, 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.
Smith Bros & Co., 105 S. LaSalle St.
Smith, Graham & Rockwell, 141 W. Jackson
Blvd.
Stein, Alstrln & Co., 219 S. LaSalle St.
Stoddard & Boyden, 120 S. LaSalle St.
SUTRO BROS. & CO., 134 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. LaSalle St.
Turner & Billings. 141 W. Jackson Blvd.
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 hank list in each city.


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

1728

LOCAL STOCK EXCHANGE FIRMS

CHICAGO—Continued
Chicago Stock Exchange Officers:
M. J. O’Brien, Pres.
Harvey T. Hill, Exec. V. P.
Paul B. Skinner, Tr.
Martin E. Nelson, A. Tr.

Wallace C. Winter, V. P.
Jess Halsted, Sec.
Charles T. Atkinson, Sec. Emeritus
Kenneth L. Smith, A. Sec.
Sidney L. Parry, A. Sec.

BATES OF COMMISSION
Commissions:
Section 1. Commissions shall be charged and paid under all circum­
stances, upon all purchases or sales of securities dealt in upon the Exchange
(except as provided in Subdivision [h], Section 2 of this Article) and shall
be absolutely net and free from all or any rebatement, return, discount or
allowance in any shape or manner whatsoever, or by any method or arrange­
ment direct or indirect; and no bonus or any percentage or portion of the
commission shall be given, paid or allowed, directly or indirectly, or as a
salary or portion of a salary, to any clerk or person for business sought or
procured for any member of the Exchange.
Sec. 2. Commissions shall be calculated on the basis hereinafter specified:
(a) On railroad, public utility and industrial bonds, having more than
five years to run:
*(al) On business for parties not members of the Exchange, including
joint account transactions in which a nonmember is interested; transactions
for partners not members of the Exchange; and for firms of which the
Exchange member or members are special partners only, the commission
shall be not less than the following:
Selling at less than 1 per cent of face value of principal—
As may be mutually agreed upon.
Selling at 1 per cent or above but under 10 per cent of face value of
principal—
Not less than $1.25 per $1,000 face value of principal.
Selling at 10 per cent of face value of principal and above—
Not less than $2.50 per $1,000 face value of principal.
*(a2) On business for members of the Exchange when a principal is
given up, the commission shall be not less than the following:
Selling at less than 1 per cent of face value of principal—
As may be mutually agreed upon.
Selling at 1 per cent or above but under 10 per cent of face value of
principal—
Not less than 37Kc per $1,000 face value of principal.
Selling at 10 per cent of face value of principal and above—
Not less than 75c per $1,000 face value of principal.
*(a3) On business for members of the Exchange when a principal is
not given up, the commission shall be not less than the following:
Selling at less than 1 per cent of face value of principal—
As may be mutually agreed upon.
Selling at 1 per cent or above but under 10 per cent of face value of
principal—
Not less than 62}4c per $1,000 face value of principal.
Selling at 10 per cent of face value of principal and above.
Not less than $1.25 per $1,000 face value of principal.
(b) On securities of the United States, Porto Rico and the Philippine
Islands, and of states, territories and municipalities therein, on business
for members of the Exchange as well as nonmembers, the restrictions as to
minimum commissions contained in this article shall not be applicable, but
the rates to be charged shall be such as may be mutually agreed upon.
(c) On Stocks:
(cl) On business for parties not members of the Exchange, including
joint account transactions in which a non-member is interested; transac­
tions for partners not members of the Exchange; and for firms of which the
Exchange member or members are special partners only, the commission
shall be not less than the following:
On stocks selling below $10 per share, 7j^c per share.
On stocks selling at $10 per share and above, but under $25 per share,
12J^c 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,
17c 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,
2J4c 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,
l%c per share.
On stocks selling at $10 per share and above, but under $125 per share,
3^c 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 listen 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 iess to run; Bonds having five years or
less to run; such rates to members or non-members as may be mutually
agreed upon; provided, however, that the Committee on Commissions, with
the approval of the Governing Committee, may hereafter determine special
rates on any or all of the above mentioned securities.
(i) When a member merely receives and delivers securities for another
member, the clearing charge for said service may be a matter of mutual
agreement, and the restrictions as to minimum commissions contained in
this Article shall not be applicable. Such clearing cnarges shall be based
upon a stipulated sum of money for each one hundred snares of stock or one
thousand dollars of bonds received or delivered. The payment for said
service of a certain sum of money for any period of time, irrespective of
the number of shares or amount of bonds cleared, is forbidden.
Sec. 3. The minimum commission on transactions in stocks for non­
members (except in stocks selling for less than $1.00 per share) shall
(a) Where the transaction involves $200.00 or more, be not less than
$5.00;
(b) Where the transaction involves less than $200.00 but $15.00 or
more, be not less than $3.00; and
(c) Where the transaction involves less than $15.00, be as may be
mutually agreed upon.
Upon transactions between members, the minimum commission shall be
$1.00 upon stocks selling at $10.00 and above per share, and 50c upon
stocks selling below $10.00 per share but not less than $1.00 per share;
Provided, that where any transaction involves less than $15.00, the com­
mission to be charged may be mutually agreed upon, and Provided Further,
that there shall be no minimum commission fixed upon transactions in odd
lots executed by members for and on behalf of odd lot dealers who have
been approved as such by the Exchange, but the commissions to be charged
to odd lot dealers upon the execution of transactions in odd lots shall be
calculated in accordance with Section 2 of this Article, without any minimum.
Sec. 4. Members suspended by the Governing Committee shall not,
during the time of suspension, be entitled to have their business transacted
at member rates.
A member who is in suspension by reason of insolvency, may have his
business transacted at members’ rates.
Sec. 5. No agreement or arrangement shall be entered into between a
member of his firm, and his or their customer, whereby special and unusual
rates of interest are stipulated for, or money advances upon unusual terms
are made a condition in connection with the conducting of an account, with
intent thereby to give special or unusual advantages to such customer for
the purpose of securing his business.
Sec. 6. No payment shall be made to customers of the proceeds from the
sale of securities on the day of the sale and before the money is received by
the broker, unless interest is charged. When securities purchased for a
customer are not paid for by him on the day they are received and paid
for by the broker, interest must be charged from that date to the date of
payment. Where a material or more than nominal loss is sustained, either
through bank exchange charges or interest, the same must be charged to
the customer.
Sec. 7. Any member violating this Article, directly or indirectly, of
which the Governing Committee shall be the judge, shall, upon conviction,
for the first offense, be fined five hundred dollars, and shall be suspended
for a period of not less than three months; and for the second offense shall
be expelled, and his membership disposed of by the Committee on Admis­
sions.
COMMISSIONS ON BIGHTS AND STOCK
Reference is made to the By-Laws, Article XVI, Section 2, paragraph (h).
The Committee on Commissions, with the approval of the Governing
Committee, hereby rules that until further notice the commissions on sub­
scription rights accruing on one share of stock and upon stock selling for
less than $1.00 per share shall be not less than the following:
Under 50c per right or share of stock:
May be mutually agreed upon.
50c per right or share of stock, but under $1.00:
To non-members, not less than 3c; minimum 50c.
To members, give-ups, not less than J^c.
To members, clearance, not less than %c.
$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 %c.
To members, clearance, not less than lj^c.
$5.00 per right and above, but under $10.00:
To non-members, not less than THc; minimum $1.00.
To members, give-ups, not less than lj^c.
To members, clearance, not less than l%c.
$10.00 per right and above:
The rates shall conform to the rates on stocks of the same price; provided
that the minimum on one transaction to non-members shall be $2.00.
The above rates to be effective as of December 30, 1930, and to continue
in force until further notice.
Compensation: The payment of any commission or bonus for the
adjustment of salaries is held a violation of Article XVI, Section 1 of the
By-Laws. Any plans for additional or adjusting compensation should be
submitted to the Committee on Commissions for its approval.
Discretionary Accounts: Customers’ men and all other employees are
prohibited from handling discretionary accounts. Discretionary power in
the handling of an account may be vested only in partners. A partner
may delegate such discretionary power to a customers’ man to a reasonable
extent, provided the consent of the customer in writing is first obtained.
Such delegation of discretionary power by a partner to a customers’ man
does not relieve the partner of responsibility for improper transactions.

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


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

LOCAL STOCK EXCHANGE FIRMS

1729

LOUISVILLE
Almstedt Brothers, 425 W. Market Street
Culbertson, S. A., Inter Southern Bldg.
HENNING CHAMBERS & CO., 431 W. Jeffer­
son St.

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

STEIN BROTHERS & BOYCE, 427 W. Jefferson
St.
Wakefleld & 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 selling over $150 and less than $250.........
.50
Commission on stocks selling over $250 and less than $500_________ 1.00
Commission on stocks selling over $500........
2,00
Minimum Commission_____________________________________ 1.00
Commission on bonds $2.50 per $1,000

Louisville Stock Exchange Officers:
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.
DANE & WEIL, Inc., 1530 Canal Bk. Bldg.
Fenner, Beane & Ungerleider, 818 Gravier St.
Glenny & Company, 718 Whitney Bldg.
Jones & Co., Larz E., 734 Gravier St.

Lehman, Stern & Co., 840 Union St.
MOORE & HYAMS, 610 Common St.
Pierce & Co., E. A., Maritime Bldg.
SAUNDERS, SON & CO., Inc., 2104 American
Bk. Bldg.
Smith & Co., Mason, 843 Union St.

New Orleans Stock Exchange Officers.

John Dane, Pres.
Larz E. Jones, Znd 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................. ...................................... 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.......................
-7H cts. per share
From $10.00 up to $25.00 per share........................
12J^ cts. per share
From $25.00 up to $50.00 per share__ ____
15 cts. per share
From $50.00 up to $75.00 per share................
17^ cts. per share
From $75.00 up to $100.00 per share____ ______
25 cts. per share
From $100.00 up to $200.00 per share.............. .................. 50 cts. per share
On stocks selling at $200.00 per share and over, 50 cts. for the first $200.00
in price and 5 cts. per share additional for each $50.00 increase in
price or fraction thereof.
♦By resolution of the Governing Committee it is permissible for members
to charge on these issues the minimum commission prevailing thereon
on the other exchange on which these bonds are listed.

Tessier & Son, C. A., 217 Carondelet St.
Viilere & Co., St. Denis J., 552 Canal Bk. Bldg.
Weil & Co .,Inc„ 1019 Union Indemnity Bldg.
Wells & Stanton, 408 Cotton Exchange Bldg.
WHEELER & WOOLFOLK, 720 Common St.
Woolfolk, Huggins & Shober & Co., 1407 Canal
Bk. Bldg.
Allen C. Higgens, 1st Vice-Pres.
Jeffrey Steinhardt, Treas.
Erwin R. Schweikhardt, A. Sec.

ON BANK STOCKS SELLING:
Under $10.00 a share______________________________ 25 cts. per share
At $1.00 and up to $75.00, exclusive,____ _____ _______50 cts. per share
At $75.00 and up to $100.00, exclusive,........................... 75 cts. per share
At $100.00 and up to $200.00, exclusive............................... $1.00 per share
At $200.00 and over___________ ______ _____ Ht 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 pershare
At $5,000.00 and up to $10,000.00, exclusive...... ............ $100.00 per share
At $10,000.00 and up to $15,000,00, exclusive...............$150.00 per share
At $15,000.00 and up to $20,000.00___________
$200.00 per share
Commissions on rental of Exchange stocks shall be $25.00 as a minimum
charge.
On rentals for periods less than one year the commission shall be pro-rated,
provided no commission less than $10.00 shall be charged.
THE MINIMUM CHARGE ON ANY ONE TRANSACTION SHALL
BE $2.00

BALTIMORE
Baker, Watts & Co., Calvert and Redwood Sts.
A. P. Barrett & Co., 315 Baltimore Life Bldg.

ROBERT GARRETT & SONS, Garrett Bldg.

ALEXANDER BROWN & SONS, Calvert and
Baltimore Sts.

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.

Frank B. Cahn & Co., Equitable Bldg.
Douglas G. Carroll & Co., 4 Stock Exchange Bldg.
Colston, Marburg & Price, Keyser Bldg.
J. C. Cooper & Co., 7 Stock Exchange Bldg.
Owen Daly & Co., 23 South St.
D. Fahnestock & Co., 14 Stock Exchange Bldg.
J. Harmanus Fisher & Sons, 7 South St.

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.

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.
Henry White & Co., 1414 Fidelity Bldg.
Whitely & Co., T. Evans., 3 Stock Exchange Bldg

Baltimore Stock Exchange Officers:
RATES OF COMMISSION
Harry Fahnestock, Pres.
Chas. W. L. Johnson, V. P.
Minimum Commissions on Stocks
TO BE CHARGED To
M. L. Rodemeyer, Asst. Sec. and Tr. J. H. Kummer, Exec. Sec.
Selling at Prices Below
NonMembers Members
Members when no when name
RATES OF COMMISSION
name is Is given up
Minimum Commissions on Stocks
TO BE CHARGED TO
given up
Selling at Prices Below
Non----Members Members
At
10
($100
per
$1,000
par
value)
or
Members
when no when name
above________________________
$2.50
75c
40c
name is is given up
Under 10 ($100 per $1,000 par value)
$1.25
40c
25c
given up
Except
that
on
bonds
having
five
Under 10c a share................... .............
1 c
He
Yi c
years
or
less
to
run
to
maturity
and
sell­
At 10c a share and above, but under $1
3 c
He
V2C
ing at 96 and above, but not above
At$l a share and above, but under $10
7Yc
IMc
IHc
110, the rates shall be.................. .........
$1.25
40c
25c
At $10 a share and above, but under
any transaction in bonds shall be
$50..................................... ..............
15c
4 c
2Hc
$1.25.
At $50 a share and above, but under
$100........... ..........................
25c
4 c
6^c
Special Rates:
At $100 a share and above, but under
$150____________ _____ _______
40c
10 c
7 c
Commercial Credit Co. common—N. Y. Stock Exchange rate.
At $150 a share and above, but under
Cons. Gas Electric Light & Power Co. common—N. Y. Curb Exchange rate.
$200________ ____ _____
50c
13 c
8 c
Pennsylvania Water and Power Company—N. Y. Curb Exchange rate.
At $200 a share and above................
.06%
■04%
H%
Silica
Gel Corporation—N. Y. Curb Exchange rate.
of amount of amount of amount
Stocks selling under 10c—By agreement, no minimum.
of
of
of
Commissions
on rights shall be the same as those fixed for stocks.
transaction transaction transaction
The minimum commission charged on any completed individual trans­
The above rates apply to all transactions made on the floor of this Exchange
action in stocks shall be not less than $2.50, provided that the commission
in stocks listed on the New York Stock Exchange, except as provided in
charge on any such transaction involving a total amount of less than $50.00
Special Rates.
shall be not less than $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 city.


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

LOCAL STOCK EXCHANGE FIRMS

1730

BOSTON
Adams, L. Sherman, 10 Post Office Square.
J. S. BACHE & CO., 10 Post Office Square.

Baldwin & Co., 30 Federal Street.
Besse, Harry W. & Co., 89 State St.
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., 10 P. O. Square.
Burr, Gannett & Co., 53 State Street, Room 29.
Clark, Childs & Keech, 10 P. O. Square.
Clark, Dodge & Co., 70 Federal Street.
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., 45 Milk Street.
Downer & Co., 53 State St., Room 36A
ESTABROOK & CO., 15 State Street.

Fales, T. C. & Co., 140 Federal Street.
Fernald, Lloyd D. & Co., Third National Bank
Bldg.
Gagen, T. F. & Co., 53 State Street, Rooms 36A.

Gallagher, R. A. & Co., 50 Congress Street, Rm.
511-514.
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.
HAYDEN, STONE & CO., 75 Federal Street

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 Street.
Kitchlng, E. J. & Co., 75 Federal Street.
Laidlaw & Co., 24 Federal Street.
Lee, Higginson & Co., 70 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 636.

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

Mott, Louis P. & Co., 80 Federal Street, Room 308
Newton & Co., 31 Milk Street.
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.
Southgate, Stevenson & Co., 10 Post Office Square.
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, Byam & Co., 53 State Street, Room 633.
Whitney & Elwell, 30 State Street.
Williston, J. R. & Co., 53 State Street, Rooms 209,
210.

Wrenn Bros. & Co., 30 Federal Street.
STOCKS PER SHARE

Boston Stock Exchange, Officers

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

George A. Rich, Tr.
George A. Rich, See.

RATES OF COMMISSION
In Effect July 7, 1932
BONDS

Railroad, public utility and industrial bonds, having more than five
years to run—
Selling at less than $10, on a par value of $1,000______________ Optional
Selling at $10 and less than $100 on a p’er value of $1,000_________ $1.25
Selling at and above $100 on a par value of $1,000............... .......... 2.50
(Government Bonds are exempt from the regular rate)

Selling below 50c____ _________ _____ _____ _______________ Optional
Selling at 50c or above, but under $1______________________ 1)^ cents
Selling at $1 or above, but under $5.............................................. 5 cents
Selling at $5 or above, but under $10....... ............................. ....... 7^ cents
Selling at $10 or above, but under $25_________ _____ _____ 12)4 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
Alison & Co., 244 Buhl Bldg.
BACHE, J. S. & CO., 119 Penobscot Bldg.

Baker, Simonds & Co., 1134 Buhl Bldg.
Bennett, Smith & Co., 640 Griswold Street.
Brown, John L. & Co., 625 Penobscot Bldg.
Butler & Co., J. M., 224 Penobscot Bldg.
Collin & Co., Frederick, 1442 Griswold Street.
Crouse & Co., 1817 Penobscot Bldg.
Cullen, Ferriss & Colquhoun, 884 Penobscot Bldg.
DOMINICK & DOMINICK, 314 Ford Bldg.

Ettinger & Brand, 216 Penobscot Bldg.
Farrand, Newcomb & Hatch, 2006 Penobscot
Bldg.
Fenner, Beane, & Ungerleider, 639 Penobscot
Bldg.
Ferriss, Wagner & Miller, 1444 Buhl Bldg.

HARRIS, SMALL & CO., 1400 Penobscot
Bldg.

Hentz, H. & Co., 1 Buhl Bldg.
HORNBLOWER & WEEKS, 244 Penobscot
Bldg.

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

Hutton, W. E. & Co., Fisher Bldg.
Jennings & Busby, 500 Fidelity Bank & Tr. Bldg.
King Boug Stodgell & Co., Windsor, Ont.
Livingstone, Dennis & Renfrew, 409 Griswold St.
MacCrone, E. E. & Co., 2664 Penobscot Bldg.
McLean & Co., John F., 1806 Penobscot Bldg.
Moss, W. E. & Co., 2316 Union Guardian Bldg.
O’Donnell, Humphries & Fuehrer, 517 Penobscot
Bldg.

Rathbun & Co., 2656 Penobscot Bldg.
Reilly, W. E. & Co., 1446 Penobscot Bldg.
Roney, Wm. C. & Co., 2232 Union Guardian Bldg.
Rose, Wm. H. & Co., 966 Penobscot Bldg.
Schlachman, Max & Co., 866 Penobscot Bldg.
Shader, Winckler Co., 204 Penobscot Bldg.
Walker, William T. & Co., 1304 Penobscot Bldg.
Watling, Lerchen & Hayes, 344 Buhl Bldg.
Woodruff, D. M. & Co., 1546 Penobscot Bldg.

Detroit Stock Exchange Officers:

Laurence P. Smith, Pres.
S. R. Livingstone, Tr.
Clark J. W. Colby, Sec.

Paine, Webber & Co., 100 Penobscot Bldg.
PARCELLS, CHARLES A. & CO., 539 Penob­
scot Bldg.

Charles B. Crouse, Vice-Pres,
Clark C. Wickey, Asst, to Pres,
COMMISSION RATES

Stocks selling under 50c per share, 2% of amount involved.
Stocks selling at 50c per share and above, but under $1.00, not less than
3c per share.
Stocks selling at $1.00 per share and above, but under $10.00, not less
than 7J^c per share.

Pardee, M. L. & Co., 224 Ford Bldg.

Stocks selling at $10.00 per share and above, but under $25.00, not less
than 12)^c per share.
Stocks selling at $25.00 per share and above, but under $50.00, not less
than 15c per share.
Stocks selling at $50.00 per share and above, but under $75.00, not less
than 17^c per share.
Stocks selling at $75.00 per share and above, but under $100.00, not less
than 20c per share.
Stocks selling at $100.00 per share and above, but under $200.00, not
less than 25c per share.
Stocks selling at $200.00 per share and above, but under $250.00, not
less than 30c per share.
For each additional $50.00 in price, 5c additional.

MINNEAPOLIS —ST. PAUL STOCK EXCHANGE
BANCNORTHWEST COMPANY,
quette Ave., Minneapolis.

620 Mar­

Barney & Co., Minneapolis.
Guaranteed Mortage Co., 1240 Baker Bldg.,
Minneapolis.

Kalman & Company, 144 Endicott Bldg., St. Paul.
Lewis & Co., 601 Second Ave. Minneapolis.
Marquette Trust Co., Minneapolis
N. W. Discount & Acceptance Corporation, 708
Thorpe Bldg., Minneapolis.

Paine, Webber & Co., Rand Tower, Minneapolis.
Smith & Co., Wharton C„ 262 Bremer Arcade,
St. Paul.
Wells-Dickey Company, 5th St. and 2nd Ave.,
Minneapolis.

Mlnneapolis-St. Paul Stock Exchange Officers:

Wharton C. Smith, Pres.
Howard R. Selover, V. P.

Robert G. Hopwood, V. P.
Von E. Luscher, Sec. and Tr.

COMMISSION RATES
Effective March 15, 1932

Stocks selling under 50 cts. per share_______________________ 2 cts. pershare
From 50 cts. to less than $1.00___________________________ 3 cts. pershare
$1.00 to less than $5.00...........
5 cts. per share
$5.00 to less than $10.00________________________________ 10 cts. pershare
$10.00 to less than $25.00_______________________________ 15 cts. pershare
$25.00 to less than $100.00................
25 cts. per share
$100.00 to less than $150.00_____________________________ 30 cts. pershare
$150.00 to less than $200.00..............
_50 cts. per share
Minimum $1.00 for stocks selling under $10.00 per share
Minimum $2.00 for stocks selling at $10.00 and over
Rights—same as stocks.
Bonds per $1,000.00 and less__ ______ __ ____ ________________ $2.50

SPECIAL RATES ON BANK STOCKS
$1.00 to less than $10.00____________ ______ ______ 10 cts .per share
$10.00 to less than $25.00_________________________12J^ cts. per share
$25.00 to less than $50.00___________
15 cts. per share
$50.00 to less than $75.00.....................
17}4 cts per share.
$75.00 to less than $100.00___________________
20 cts. per share
$100.00 to less than $200.00___ _______ ____________ 25 cts. per share
$200.00 and above_______________________________ 25 cts. per share
plus 5 cts. per share additional for each $50.00 increase in price or
fraction thereof.
Minimum—as above.
SPECIAL RATES ON T.C.R.T.C. NOTES AND SCRIP
Notes 25 cts. per $100.00___________________________Minimum $1.50
Scrip 2)4 cts per 1/100 Scrip........ .................. ......... ............ Minimum $1.50

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


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

LOCAL STOCK EXCHANGE FIRMS

1731

ST. LOUIS
Aid & Company, Security Bldg.

Gessler, E. A. & Son, Merchants-Laclede Bldg.

Barklage, Louis, 317 N. 4th Street.

Hawes & Company, Landreth Bldg.
Hill Bros. & Company, Security Bldg.

Smith, Moore & Co., LaSalle Bldg.

JONES, EDW. D.&CO., Boatmen's Bank Bldg.

STIFEL, NICOLAUS & CO., Boatmen’s Bank
Bldg.

Bauer Bros. Brokerage Co., 312 North 4th Street.
Bennett, Jas. E. & Co., 705 Olive Street.
Brown, Paul & Company, Paul Brown Bldg.
Daly & Co., Bank of Commerce Bldg.
D’Oench, Duhme & Co., Franklin-Am.Tr.Bldg.
EDWARDS, A. G. & SONS, 409 North 8th St.
FRANCIS BROS. & CO., 4th & Olive Streets.
Friedman & Co., Wm. Stix, 513 Olive Street.
Gatch Bros., Jordan & McKinney, 411 Olive St.

Knight & Co., Harry H„ 401 Olive St.
LITTLE & HAYS INV. CO., LaSalle Bldg.
Louderman, W. M., Bank of Commerce Bldg.
Nickerson & Company, Boatmen’s Bank Bldg.
Rassieur, Sweeney & Co., 506 Olive Street.
Reinholdt & Gardner, Security Building.
H. L. Ruppert & Co., 402 Pine Street.
Seddon, Morflt, & Harvey, Inc., Landreth Bldg.
Semple, Jacobs & Co., Rialto Building.

St. Louis Stock Exchange Officers:
B. F. Jacobs, Pres.
Walker Hill, Jr., V. P.
W. M. Louderman, Sec. and Tr.
Chas. A. Huebner, A. Sec. and A. Tr.
RATES OF COMMISSION
STOCKS
Stocks selling at $1.00 per share or less, $2.00 per 100 shares.
Stocks selling at $1.12^ per share and less than $3.00 per share, $3.00
per 100 shares.
Stocks selling at $3.00 per share and less than $5.00 per share, $5.00
per 100 shares.
Stocks selling at $5.00 per share and less than $10.00 per share, $7.50
per 100 shares.

SIMON, I. M. & COMPANY, 315 North 4th St.

Stix & Company, LaSalle Bldg.
Taussig, Day, Fairbank & Co., Boatmen’s Bank
Bldg.
Timmerman, F. C., & Co., Cotton Belt Bldg.
Wade, Festus J. & Co., Columbia Bldg.
WALDHEIM, PLATT & CO., 513 Olive Street.
WALKER, G. H. & CO., Broadway & Locust
Streets.
Whitaker & Company, 300 North 4th Street.

Stocks selling at $10.00 per share and less than $25.00 per share, $0.12V£
per share.
Stocks selling at $25.00 per share and less than $100.00 per share, $0.25
per share.
Stocks selling at $100.00 per share and less than $300.00 per share,
$0.50 per share.
Stocks selling at $300.00 per share and less than $500.00 per share,
$0.75 per share.
Stocks selling at $500.00 per share and over, $1.00 per share.
BONDS
On bonds, $2.50 per $1,000 par value.
U. S. Bonds, $0.62>^ per $1,000 par value.
The minimum commission to be charged shall be $1.00.

NEW YORK
Abbott, Hoppin & Co., 120 Broadway
Abraham & Co., 120 Broadway
Adler, Coleman & Co., 15 Broad Street
Anderson, Block & Co., 50 Broadway
Andrews, Posner & Rothschild, 26 Broadway
Appenzellar, Allen & Hill, 55 Broadway
Arnold & Company, 32 Broadway
Aronson (Bernard) & Co., 52 Broadway.
Ash & Co., Mervin, 1 Wall Street
ASIEL & CO., 11 WaU Street
Auchincloss, Mills & Bergen, 1 Wall Street
Auerbach, Poliak & Richardson, 30 Pine Street
Baar, Cohen & Company, 120 Broad Street
BABCOCK, RUSHTON & CO., 50 Broadway
Bach, White & Company, 120 Broadway
BACHE & CO., J. S., 42 Broadway
Baker, Weeks & Harden, 52 Wall Street
Barbee & Co., 40 Wall Street
Barney & Co.,Chas. D„ 65 Broadway
Barnwell, Arthur & Co., 24 Broad Street
Barrett & Company, 30 Broad Street
Barry & Hughes, 11 Broadway.
Batsell & Co., 25 Broadway.
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
Bernard, Winkler & Co., 52 Wall Street
Biggs, Mohrman & Co., 1 Wall Street
BILLINGS, OLCOTT & COMPANY, 52
Broadway
Blake Brothers & Co., 40 Wall Street
Block (Benjamin) & Co., 50 Broadway.
Blumenthal Bros., 71 Broadway
BLYTH, BONNER & KIMBLEY, 52 WaU St.

Burnham, Herman & Co., 44 Wall Street
Burnside & Co., 61 Broadway
Burton, Cluett & Dana, 120 Broadway
Butler, Herrick & Marshall, 30 Broad Street
Byck & Lowenfels, 50 Broad Street
Bywater & Leary, 50 Broadway
Cahn & Co., Frank B„ 120 Broadwav.
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 Wall Street.
Cassatt & Co., 1 Wall Street
CASSEL, H. & CO., 61 Broadway.
Chapin, S. B. & Co., Ill Broadway
Chapman, Carman & Co., 100 Broadway
Chauncey & Co., 61 Broadway
Chisholm & Chapman, 52 Broadway
Clark, Childs & Co., 11 Broadway
Clark, Dodge & Co., 61 Wall Street
Clark (Jno. F.) & Co.. 40 Wall St.
Clews & Co., Henry, 7-9-11 Broadway.
Clucas & Company, E. W„ 70 Pine Street.
Coggeshall & Hicks, 111 Broadway
Cohen, Simonson & Co., 30 Broad Street
Cohu Brothers, 90 Broad St.
Colgate, Jas. B. & Co., 44 Wall Street
Connelly & Co., F. J., 15 Broad St.
Content & Co., H., Ill Broadway.
Corlies & Booker, 90 Broad Street
Coulon & Co., E. J., 50 Broadway.
Cowen & Co., 120 Broadway
Curtis & Co., 25 Broadway
Curtiss, House & Company, 61 Wall Street
Dann & Company, J. C., 65 Broadway.
Davis & Co., Fellowes, 52 Broadway.
Davis & Co., J. W„ 111 Broadway.
Davis & McIntosh, 61 Broadway
Davis & Co.. Morgan, 15 Broad St.
Day & Co., R. L„ 14 Wall Street.
De Coppet & Doremus, 42 Broadway
de Cordova & Bro., Cyril, 25 Broad Street.
De Haven & Townsend, 52 Broadway
De Voe, Dyke & Sperry, 25 Broad St.
Dewey, Bacon & Co., 39 Broadway
De Witt, Fleitmann & Co., 120 Broadway.
Dietrich & Company, F., 1 Wall Street.
Disbrow, Dixon & Potts, 120 Broadway
Dobbs & Company, 1 William St.

Eliott & Co., Gilbert, 11 Broadway.
Elmer & Nettleton, 49 Wall Street
Ely & Son, 120 Broadway.
Emanuel & Co., 32 Broadway
Engel & Kent, 120 Broadway
Erdman & Co., 25 Broadway
Eric & Drevers, 40 Wall Street.
Ernst & Company, 3 S. William St.
Estabrook & Co., 40 Wall Street
Ettinger & Brand, 11 Wall Street
Evans, Stillman & Co., 14 Wall Street
Fagan & Goetz, 40 Wall St.
Fahnestock & Co., 1 Wall Street
Fahy & Co., Walter J., 29 Broadway
Faroll Brothers, 50 Broadway
Farr & Co., 90 Wall Street
Fenner, Beane & Ungerleider, 60 Beaver Street.
FIELD, GLORE & 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., 2 Wall Street
Fox, O’Hara & Co., 60 Broad Street
Fransioli & Wilson, 120 Broadway
Fried & Company, Albert, 120 Broadway.
Fuller (Henry B.) & Co., 60 Beaver St.
Fuller, Rodney & Co., 14 Wall Street
Gaines & Company, 1 Wall Street
Gallic & Co., 40 Wall Street
Gammack & Co., 39 Broadway
George & Farrington, 52 Wall Street
Gilbert & Co., Clinton, 120 Broadway
Gilchrist, Bliss & Co., 120 Broadway
Gimbel & Co., Louis, 120 Broadway
Goadby & Co., W. H., 120 Broadway
Goldman, Sachs & Co., 30 Pine Street
Goldsmith (H. W. )& Co., 11 Wall St.
Goodbody & Co., 115 Broadway
Goodhart & Co., P. J., 24 Broad Street
Gordon & Whitney, 115 Broadway
Granberry & Co., 50 Broadway
Graves, Banning & Co., 14 Wall St.
GRAY & WILMERDING, 44 Wall Street

Green, Ellis & Anderson, 100 Broadway
Greene & Brock, 40 Wall Street
BOETTCHER, NEWTON & CO., 52 Wall St.
Greer, Crane & Webb, 37 Wall Street
Gruntal & Co., 60 Broadway
Bogert & Co., Beverly, 120 Broadway.
Gude, Winmill & Co., 1 Wall Street
Bond, McEnany & Co., 60 Beaver Street
DOMINICK & DOMINICK, 115 Broadway
Gutenstein & Markoe, 25 Broadway
Boody, McLellan & Co., Ill Broadway
Halladay & Co., 14 Wall Street
Bouvier & Co., M. C., 20 Broad Street
Douglas & Company, F. H., 61 Broadway.
Bradley, Boyle & Wilson, 1 Wall Street
HALLE & STIEGLITZ, 25 Broad Street
Doyle & Company, Frank, 50 Broadway.
Bramley & Smith, 52 Broadway
HALLGARTEN
& CO., 44 Pine Street
Brand, Grumet & Co., 120 Broadway
DRYSDALE & CO., 71 Broadway
V
Brandenburg & Co., 40 Wall Street
HALSEY
&
CO.,
C. D., 90 Broad Street
Brayton, Douglass & Company, 40 Wall Street
Duff & Co., J. Robinson, 1 Wall Street.
Breining & Co., 17 Battery Place
Halsted & Harrison, 1 Wall Street
Dunne & Co., John V., 19 Rector Street.
Bridgman & Company, 26 Broadway
Hamershlag, Borg & Co., 39 Broadway
Dunscombe & Co., 60 Broad Street
Brooks & Co., J. H., 1 Wall Street.
Hano & Co., 120 Broadway
du Pont, Francis I. & Co., 1 Wall Street
Brown Brothers Harriman & Co., 59 Wall Street.
Harde & Ellis, 30 Broad St.
Dyer, Hudson & Co., 61 Broadway
Brown & Gruner, 39 Broadway
Hardy & Company, 11 Broadway
Brown & Co., Vernon C., 71 Broadway.
Harp, Tierney & Co., 39 Broadway
EASTMAN, DILLON & CO., 120 Broadway
Brumley & Anderson, 120 Broadway
HARRIMAN & CO., Ill Broadway
Bryan, Penington & Colket, 48 Wall St.
Edge & Co., C. N., 20 Exchange Place.
Edmonds & Pentz, 1 Wall Street.
Harris, Upham & Co., 11 Wall Street
BULL & ELDREDGE, 39 Broadway.
Einstein & Co., H. G., 42 Broadway.
Harriss & Co., 115 Broadway
BURNET (W. E.) & CO., 11 Wall Street
Elias (Albert J.) & Co., 20 Broad St.
Hart & Co., Neville G., Ill Broadway.
Further information on firms appearing in bold lace type will be found in the selected list of Investment Dealers following bank list In each citj


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

1732

LOCAL STOCK EXCHANGE FIRMS

NEW YORK—Continued
Hartshome, Fales & Co., 71 Broadway
Haupt & Company, Ira, 39 Broadway
HAYDEN, STONE & CO., 25 Broad Street
Hedberg & Koppisch, 1 Wall St.
Hedge & Price, 40 Wall Street
HEIDELBACH, ICKELHEIMER & CO., 49
Wall Street
Hemphill, Noyes & Co., 15 Broad Street
Henderson & Company, 40 Wall Street
Henderson, Charles F. & Sons, 71 Broadway
Hendrickson & Co., 61 Broadway
Hentz, H. & Co., 60 Beaver Street
Herrick, Berg & Co., 40 Wall Street
Herzfeld & Stern, 40 Exchange Place
Hewitt, Lauderdale & Co., 61 Broadway
Hill, Charles W. & Co., 1 Wall Street
Hirsch, Lilienthal & Co., 165 Broadway
Hoge, Underhill & Co., 11 Broadway
Holmes & Co., J. H., 120 Broadway
Holsapple, Salford & Co., 59 Cedar Street
Homans & Co.. 120 Broadway
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

McDermott & Co., Peter P„ 39 Broadway.
McDonnell & Co., 120 Broadway.
McGough & Schuman, 1 Wall Street.
McWilliam, Wainwright & Luce, 49 Wall Street.
Meehan & Co., M. J., 30 Broad St.
Melady & Co., John, 141 Broadway
Miller & Dodge, 30 Broadway.
Miller & McVickar, 50 Broadway
Millett, Roe & Co., 120 Broadway.
Minton & Co., D. M., Ill Broadway
Mitchell & Watts, 65 Broadway
Monahan & Cohn, 50 Broad St.
Montgomery, Scott & Co., 120 Broadway. •
Moore & Co., D. T., 50 Broad Street
Moore & Fitzgerald, 66 Beaver St.
Moore, Leonard & Lynch, 111 Broadway.
Moore & Schley, 100 Broadway.
MORGAN & CO., J. P., 23 Wall Street.
Morgan, Howland & Company, 120 Broadway.
Morrill, Clarke & Rich, 65 Broadway.
Morris & Co., 120 Broadway.
Morris & Smith, 52 Broadway.
MOSELEY & CO., F. S., 39 Broadway.
Moss, Ferguson & Kerngood, 60 Broadway.
Muir & Co., John, 39 Broadway.
Munds, Winslow & Potter, 25 Broad Street.
Munn & Norris, 49 Wall Street.
Murfey, Blossom & Co., 120 Broadway.
Murphey, C. H. & Co., 25 Broadway.
Murphy, C. H. & Co., 25 Broadway
Murtha (J. P.) & Co., 30 Pine St.
Nash & Co., Ill Broadway.
Neilson & O’Sullivan, 20 Broad Street.
Neuhut, Mansbach & Plohn, 60 Broad Street
Newborg & Co., 60 Broadway.
Newburger, Loeb & Co., 40 Wall Street.
Newman Bros. & Worms, 25 Broad Street.
Nick (J. F.) & Co., 25 Broad St.
Noel, Berman & Langley, 54 Wall St.
Norton & Gwathmey, 1 Wall Street.
Oliphant & Co., Jas. H., 61 Broadway.
O’Neill & Co., Grover, 20 Exchange Place
Orvis Brothers & Co., 60 Broadway.
Orvis & Co., Schuyler A., 120 Broadway
Paige, Smith & Remick, 39 Broadway.
Paine, Webber & Co., 25 Broad Street.
Parker, McElroy & Company, 120 Broadway.
Parrish & Co., 40 Wall Street.
Pask & Walbridge, 1 Wall Street.
Pearl & Co., 120 Broadway.
Pell, Peake & Co., 24 Broad Street.
Pelzer, B. H. & F. W„ 42 Broadway.
Perkins & Benton, 50 Broadway.
Pforzheimer & Co., Carl H., 25 Broad Street.
Phelps & McKee, 120 Broadway.

Simmons & Peckham, 40 Wall St.
Simons, Blauner & Co., 25 Broadway.
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.
Sneckner & Heath, 20 Broad Street.
Spaulaing, Tucker & Co., 1 Wall St.
Sparks, J. W. & Co., 50 Broadway.
Spear & Leeds, 39 Broadway.
Spero & Co., 50 Broad Street.
SPEYER & CO., 24-26 Pine Street.
Spingarn & Co., Leopold, 29 Broadway.
Springs & Co., 60 Beaver Street.
Stackpole & Buchanan, 120 Broadway.
Stafford & Co., 20 Exchange Place.
Stanton & Co., 52 Wall Street.
STEIN BROS. & BOYCE, 120 Broadway.
Steiner, Rouse & Company, 25 Broad Street.
Stern & Co., Allison, 1 Wall Street.

STERN, KEMPNER & CO., 14 Wall St.
Stevens & Legg, 25 Broad Street.
Hutton & Co., W. E., 52 Wall Street
Stewart & Co., 61 Broadway.
Hyde & Bach, 15 Broad Street
Stokes, Hoyt & Co., 1 Wall Street.
Hyman & Co., 61 Broadway
Stout & Co., 25 Broad Street.
Ingalls & Snyder, 100 Broadway
Strauss, Phillips & Co., Ill Broadway
ISELIN & CO., A., 40 Wall Street
Struthers & Dean, 40 Wall Street.
Strays & Jones, 52 Broadway.
Jackson Bros., Boesel & Company, 26 Broadway
Sulzbacher, Granger & Co., Ill Broadway.
JACKSON & CURTIS, 115 Broadway
SUTRO BROS., & CO., 120 Broadway.
Jacobson & Co., Benjamin, 120 Broadway
Sutro & Co., 44 Wall Street.
Jacquelin & De Coppet, 47 Broad Street
Sydeman Bros., 30 Pine St.
Jelke & Co., (Frazier) 40 Wall Street
Tailer
& Robinson, 39 Broadway.
Jenks, Gwynne & Co., 65 Broadway
Talcott, Potter & Co., 25 Broad Street.
Jennings (G. C.) & Co., Ill Broadway.
Tameling,
Lehmann & Co., 120 Broadway.
Jesup & Lamont, 26 Broadway
Tate & Hays, 71 Broadway
Jewett, Newman & Co., 25 Broad Street
Taylor,
Bates
& Co., 50 Broadway.
Johnson & Wood, 120 Broadway
Taylor & Co., W. R. K., 49 Wall Street.
Joost, Patrick & Company, 90 Broad Street
Tefft
&
Company,
24 Broad Street
Joseph & Co., Morris, 25 Beaver Street
Thomas, Torrey & Griffith, 11 Broadway.
Josephthal & Co., 120 Broadway
Thomson
&
McKinnon,
11 Wall Street
Kaiser & Company, Louis, 150 Broadway.
Thorne (F. B.) & Co., 120 Broadway.
Kean. Taylor & Co., 20 Exchange Place
Kennedy & Co., 39 Broadway
TIMMINS & COMPANY, J. R., 61 Broadway.
Kerr & Armstrong, 42 Broadway
Tobey & Co., 25 Broadway.
KIDDER & CO., A. M., 1 Wall Street
PIERCE & CO., E. A., 40 Wall Street.
Toerge & Schiffer, 15 Broad Street
KIDDER, PEABODY & CO., 17 Wall Street
Toolin
& Co., 39 Broadway
Popper, Snyder & Co., 39 Broadway
Townsend, Graff & Co., 29 Broadway
Post & Flagg, 49 Broad Street.
Koch & Co., Spencer B., 29 Broadway
Trask
&
Co., Spencer, 25 Broad Street.
Pouch & Co., 1 Wall Street.
Kohler, Sheerin & Co., 48 Wall Street
Travers & Clark, 11 Wall Street
Prentice & Slepack, 25 Broadway.
KUHN, LOEB & CO., 52-54 William Street
TROUNSTINE & CO., J. F., 50 Broadway.
PRESSPRICH & CO., R. W., 68 William
La Branche & Company, 50 Broadway
Street.
Tucker, Anthony & Co., 120 Broadway
Ladenburg, Thalmann & Co., 25 Broad Street
Turnure & Co., Lawrence, 64 Wall Street.
Prince & Company, Theodore, 120 Broadway.
LAIDLAW & CO., 26 Broadway
Van
Wyck & Sterling, 71 Broadway
Proctor, Cook & Co., 120 Broadway.
Vaughan & Company, 50 Broadway
Pyne, Kendall & Hollister, 60 Wall Street.
Laird, Bissell & Meeds, 120 Broadway
Vilas
& Hickey, 49 Wall Street
Quincey & Co., Chas. E., 24 Broad Street.
Lamborn, Hutchings & Co., 37 Wall Street
Wade Bros. & Co., 61 Broadway.
Redmond & Co., 48 Wall Street.
Langley & Co., W. C., 115 Broadway
Wadsworth
& Wright, 1 Wall Street
Reiner & Co., Milton E., 74 Trinity Place.
Lansburgh Brothers, 30 Broad Street
Wagner, Stott & Co., 74 Trinity Place
Reynolds & Co., 120 Broadway.
Lapham, Potter & Holden, 44 Pine Street
Wainwright
& Co., H. C„ 44 Wall Street
Reynolds, Fish & Co., 120 Broadway.
Larkin & Petersen, 1 Wall St.
Walker Brothers, 71 Broadway
Rhoades, Williams & Co., 25 Broad Street.
Lauer & Co., William E., 50 Broadway
Walker
&
Co.,
G. H„ 1 Wall Street
Rich & Clark, 15 William Street.
Lawrence & Sons, Cyrus J., 115 Broadway
Walker & Sons, Joseph, 61 Broadway
Richard, C. B. & Co., 44 Beaver Street.
Wallace
&
Co.,
J. K., 149 Broadway
LAZARD, FRERES, 19 Nassau Street
Richards & HeiTernan, 49 Wall Street.
Wallace & Co., Lew, 1 Wall Street
Ristine & Co., F. P., 15 Broad Street.
Lee, Higginson & Co., 37 Broad Street
Waller
&
Co.,
44
Wall Street
Rollins & Co., 52 Broadway.
Lehman Bros., 1 William Street
Ward, Graver & Company, 30 Broad Street
Leopold & Co., James M., 70 Wall Street
Ware
&
Keelips,
11
Wall Street
ROOSEVELT & SON, 30 Pine Street.
Levy & Co., Robert J., 165 Broadway
Warner & Co., 120 Broadway
Lewinson & Co., Sydney, 40 Wall Street
Watson,
Armstrong
&
Co., 24 Broad Street
Rose & Co., Luke H„ 120 Wall Street.
Lewisohn & Sons, Adolph, 61 Broadway
Watson & Co., T. L., 40 Wall Street
Rose, Cammann & Co., 120 Broadway.
Llbaire & Company, 37 Wall Street
Roth & Co., B. H., 25 Broad Street.
Liberman & Stone, 25 Broad Street
WATSON & WHITE, 149 Broadway
Roth (Emil J.) & Co., 50 Broadway.
Lindley & Co., 44 Wall St.
Rothschild & Co., L. F., 120 Broadway.
Lipper & Co., Arthur, 50 Broad Street
Weicker & Co., 1 Wall Street
Russell,
Miller
&
Company,
11
Wall
Street.
Livingston & Company, 111 Broadway.
Weingarten & Co., 29 Broadway.
Livingstone, Dennis & Renfrew, 40 Wall Street
Weisl & Co., Edwin, 70 Pine Street
RUTTER
&
COMPANY,
20
Exchange
Place.
Lloyd & Co., 39 Broadway.
Welles. C. E. & Co., 39 Broadway.
Lober Brothers & Co., 37 Wall Street.
Ruxton, Newhard & Cook, 65 Broadway.
Lockwood, Peck & Co., 52 Broadway.
WELLINGTON & CO., 120 Broadway
SALOMON BROS. & HUTZLER, 60 Wall St.
Loeb & Co., Carl M„ 48 Wall Street.
Loeb, Alsberg & Co., 39 Broadway.
Werthelm & Co., 120 Broadway.
Salomon & Co., F. L., 50 Broadway.
Loew & Co., 2 Wall Street.
Whitehouse & Co., Ill Broadway
Sartorius & Smith, 61 Broadway.
Loewi & Co., Mortimer W., 24 Broad Street
White
& Stanley, 52 Broadway
Schafer Bros., 1 Wall Street.
Lowell & Son, 30 Broad Street
White, Weld & Co., 40 Wall Street
Schatzkin & Co., 60 Broad Street.
Lowitz, E. & Co., 29 Broadway.
Whitney
& Sons, H. N., 49 Wall Street
Schatzkin, Pell & Co., 39 Broadway.
Luke, Banks & Weeks, 1 Wall Street.
Whitney & Co., Richard, 15 Broad Street
Schirmer, Atherton & Co., 26 Broadway
Lyon & Co., W. Wallace, 40 Wall Street
Wilcox
&
Co., 40 Wall Street
Scholle Brothers, 40 Wall St.
Mahon & Co., 1 Wall Street.
Willard & Co., F. A., 40 Wall Street
Schwabacher & Co., 120 Broadway.
Mackay & Co., 14 Wall Street.
Williams
&
Co., Clark, 160 Broadway
Seasongood & Haas, 63 Wall Street.
MacQuoid & Coady. 120 Broadway
Williston & Co., J. R., 11 Wall Street
Mallory, Eisemann & Co., 120 Broadway.
SELIGMAN & CO., J. & W., 54 Wall Street.
Maloney & Co., Peter J., 50 Broadway
WINTHROP, ROBERT & CO., 48 Wall Street
Seligman, G. & A., 120 Broadway.
Manson & Co. .Thos L., 120 Broadway
Seligsberg & Co., 50 Broad Street.
Marks (Laurence M.) & Co., 49 Wall St.
WINTHROP, MITCHELL & CO., 26 Broadway
Shaskan, E. F. & G„ 39 Broadway.
Marquis & Co., L. J., 39 Broadway
Wollman & Co., W. J., 120 Broadway
Shea & McMannus, 67 Exchange Place.
Marshall, Campbell & Company, 61 Broadway.
Wood, Low & Company, 63 Wall Street
Shearson, Hammill & Co., 14 Wall St.
Marston & Co., 120 Broadway.
Wood, Struthers & Co., 20 Pine Street
Shields & Company, 44 Wall Street.
Mayer & Company, Jos. G., 74 Trinity Place.
Wrenn Bros. & Co., 30 Broad Street
Shippee & Rawson, 111 Broadway.
Maynard, Oakley & Lawrence, 24 Broad Street
Wright & Sexton, 1 Wall Street
Shuman & Co., 25 Broad Street.
McCaffray & Co., Walter P., 25 Broad Street
Young, Kolbe & Co., 120 Broadway
Siegel & Company, 61 Broadway.
McClave & Co., 67 Exchange Place.
Zeltner & Company, C. F., 61 Broadway
Silberberg, D. H. & Company, 63 Wall Street.
McClure, Jones & Co., 115 Broadway.
Zuckerman, Henry & Co., 52 Broadway
McConnell & Co„ H. F„ 60 Wall Tower___________ Simmons & Co., E. H. H., 52 Broadway.
Further information on firms appearing in bold face type will be found in the selected list of Investment Dealers following bank list in each city.


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

LOCAL STOCK EXCHANGE FIRMS

1733

NEW YORK -Continued
New York Stock Exchange Officers:
Richard Whitney, Pres.
Warren B. Nash, Tr.
John P. Ryan, Asst, to the Pres.
J. M. B. Hoxsey, Executive /tssi. to

Allen L. Lindley, V. P.
Edward T. H. Talmage, Jr., A. Tr.
Ashbel Green, Sec.
Francis T. Boyd, 1st Asst. Sec.

the Committee on Stock List

COMMISSION RATES
Rates to Non-meinbers, etc.
On business for parties not members of the Exchange, including joint
account transactions in which a non-member is interested; transactions for
partners not members of the Exchange; the commission shall be not
less than the rates given below:
Sec. 2 provides that commissions shall be calculated on the basis stated
below;
ON STOCKS
(except as to Teu-Share-Unlt Stocks)
See also Called Securities below:
Under 50c per share_____________________ May be mutually agreed upon
50c per share and above, but under $1.00 — Not less than 3c per share
$1.00 per share and above, but under $10.00_Not less than 714c per share
*10.00 per share and above, but under
$25.00_____________ __________________Not less than 12>4c per share
$25.00 per share and above, but under
$50.00................. ..............................................Not less than 15c per share
$50.00 per share and above, but under
$75.00______ _________________________Not less tha-n 17J4c per share
$75.00 per share and above, but under
$100.00___ ___________________________Not less than 20c per share
$100.00 per share and above, but under
$200.00_______________________ _____ -Not less than 25c per share
$200.00 per share and over_______________ Not less than 30c per share
plus 5c per share for each
$50.00 or fraction thereof be­
ginning at $250.00
The minimum commission (on
stocks selling at 50c and above)
on an individual transaction
shall be not less than $1.00.
This provision shall not apply
on transactions where the
amount involved is less than
$15.00

ON TEN-SHARE-UNIT STOCKS
(as designated by the Committee of Arrangements)
See also Called Securities below:
Under $1.00 per share____________________May be mutually agreed upon
$1.00 per share and above, but under $5.00._Not less than 5c per share
$5.00 per share and above, but under$10.OCLNot less than 10c per share
$10.00 per share and above, but under
$100.00_______________ ____ _________ Not less than 20c per share
$100.00 per share and above, but under
$200.00_____________________ __ _____ Not less than 25c per share
$200.00 per share and over............. ......
Not less than 30c per share
plus 5c per share for each
$50.00 or fraction thereof be­
ginning at $250.00
ON SUBSCRIPTION RIGHTS
Under 50c per Right...............-..........................May be mutually agreed upon
50c per Right and above, but under $1.00--Not less than 3c per Right
$1.00 per Right and above, but under $5.00-Not less than 5c per Right
$5.00 per Right and above, but under $10.00.Not less than 7J4c per Right
$10.00 per Right and above............................. Not less than 15c per Right
ON BONDS: per $1,000 of principal
(except as stated below)
See also Called Securities below:
,
Selling at less than $10.00----------------------------------------Not less; than 7oc
Selling at $10.00 and above but under $100.00.............. Not less than $1-25
Selling at $100.00 and above_______________ _____ --Not less than $2.50
On Obligations of the United States, Porto Rico, Philippine Islands, and
States, Territories and Municipalities therein: Bonds and Notes having five
years or less to run: securities which, pursuant to call or otherwise, are to be
redeemed within twelve months:
Such rates to members or non-members as may be mutually agreed upon,
provided, however, that the Committee on Quotations and Commissions may
determine special rates on any or all of the above mentioned securities,
reporting the same to the Governing Committee. Under this authority the
Committee has ruled that commissions shall be not less than the rates given
below.
„ ,
On bonds or notes (per $1,000 of principal) having five
years or less to run to maturity under $10------------- Not less than 75c
$10 and above but under $100---------------- ----------------Not less than $1.25
$100 and above but under $960 and above $1,100--------Not less than $2.50
$960 and above but not above $1,100-----------------------Not less than $1.25
CALLED SECURITIES
On stocks which, pursuant to call or otherwise, are to be redeemed within
twelve months_________________________ May be mutually agreed upon
On bonds or notes (per $1,000 of principal) which
pursuant to call or otherwise are to be redeemed,
within twelve months___________________________ Not less than $1.25

CINCINNATI
ASSEL, GOETZ & MOERLEIN, INC., 218
Provident Bank Bldg.
Bartlett, Benj. D. & Co., 313 Vine Street.
J. L. Barth Co., Fourth National Bldg.
BREED AND HARRISON, INC., 504 First
National Bank Bldg.
Central Trust Co., 4th & Vine Streets
COHLE & TYREE CO., 711 Union Trust Bldg.
DOMINICK & DOMINICK, Mercantile Li­
brary Bldg.
Dunlap, T. Oliver, 407 Mercantile Library Bldg.

Eustis, Geo. & Co., 810 Fourth National Bank
Bldg.
Field, R. E. & Co., 1124 Union Central Bldg.
Fifth-Third Securities Co., 14 W. Fourth Street.
FIRST INVESTMENT & SECURITIES CORP.
First National Bank Bldg.
Fox, W. E. & Co., 600 Fourth National Bank Bldg.
Gradison, W. D. & Co., 408 Dixie Terminal Bldg.
Gran & Co., 1024 Union Central Bldg.
Hill, Alfred & Co., 207 Traction Bldg.
HUTTON, W. E. & CO., First National Bank
Bldg.

Cincinnati Stock Exchange Officers:
W. D. Gradison, Pres.
J. M. Hutton, V. P.
Guy D. Ballmann, Tr.
Richard Seving, Sec.
SCHEDULE OF RATES OF COMMISSION
There shall be charged the following commissions:
ON STOCKS
Price
Rate
Selling under $1.00 per share...............................................Not less
Selling at $1.00 per share and below $5.00 per share-. .Not less
Selling at $5.00 per share and below $10.00 per share..Not less
Selling at $10.00 per share and below $150.00 per share.Not less
Selling at $150.00 per share and below $200.00 per share.Not less
Selling at $200.00 per share and below $300.00 per share.Not less
Selling at $300.00 per share and below $400.00 per share.Not less
Selling at $400.00 per share and over................................Not less

Per Share
than
3c
than 7J4c
than 15c
than 25c
than 50c
than $1.00
than $1.50
than $2.00

MINIMUM COMMISSION ON STOCKS
Provided, however, that on every transaction which involves an amount
of $15.00 or more, the minimum commission shall be not less than $2.50.
A transaction which involves under $15.00, the minimum commission shall
be as determined by the broker.
There shall be charged the following Commission:
Price

ON RIGHTS AND WARRANTS

Rate Per Right
or Warrant
Selling under 50c..................... ..................................(as mutually agreed upon)
Selling at 50c but under $1.00............................................-Not less than 3c
Selling at $1.00 but under $5.00-.............................. ....... Not less than 5c
Selling at $5.00 but under $10.00—.................-..............Not less than 7J4c
Selling at $10.00 and above.................................................. Not less than 15c

IRWIN BALLMAN CO., THE, First National
Bank Bldg.
Lepper, A. & Co., 309 First National Bank Bldg.
MURRAY, C. C. & CO., 706 Union Trust Bldg
Reiter & Co., C. H„ Union Trust Bldg
Stephenson & Potter, 704 Union Central Bldg.
Van Lahr, Doll & Isphording, Inc., 420 Provident
Bank Bldg.
WEIL, ROTH & IRVING CO., 217 Dixie
Terminal Bldg.
Westerfleld & Co., 1003 Union Trust Bldg.
Westheimer & Co., First National Bank Bldg.

FRACTIONAL SHARES
There shall be charged a Commission not less than 50 cents on fractional
shares.
As to stocks and rights which are listed on the New York Stock Exchange,
the Commission shall not be less than are provided by the rules of the New
York Stock Exchange. Whenever the Board of Trustees, however, deems
it advisable to do so, they may designate any security listed on the Cincinnati
Stock Exchange and any other principal exchange, in which the Commission
shall not be less than are provided by the rules of such other Exchanges.
RATES TO MEMBERS—GIVE-UPS. On stocks listed only on the
Cincinnati Stock Exchange the commission shall not be less than the rate
given below:
_ ,
Rate per share
Selling under $1.00 per share..______ _________ as mutually agreed upon
Selling at $1.00 but under $5.00....................
—Not less than lc
Selling at $5.00 but under $10.00________________
Not less than 3c
Selling at $10.00 and above.------ ------------------------------Not less than 4c
On stocks listed jointly on the New York and Cincinnati Stock Exchange
the commission shall not be less than the rates given below:
Rate per share
Selling under $1.00 per share__________________ as mutually agreed upon
Selling at $1.00 but under $5.00___________
Not less than lc
Selling at $5.00 but under $10.00...______
Not less than 2c
Selling at, $10.00 and over___________________ ______ Not less than 2>4e
RATES TO MEMBERS—CLEARANCE BUSINESS. On business,
when the principal is not given up, the commission shall not be less than
one-half of the non-member rates.
ON RIGHTS AND WARRANTS
On business for members of the Exchange, the commission on rights and
warrants shall be the same as on stocks, except in the case of rights and
warrants selling below $100 on which the commission may be mutually
agreed upon.
ON BONDS
On business for members the Commission on Bonds shall not be less than
40 cents per $1,000 par value of Bonds.
„
BONDS. The Commission charge on all bonds, except that of U. S.
Bonds, is one-quarter of one per cent on the par value. The Commission
charge on U. S. bonds is one-eighth of one per cent.

MINIMUM COMMISSION ON RIGHTS AND WARRANTS
Provided, however, that on every transaction which involves an amount
of $5.00 or more, the minimum Commission shall be not less than $1.00.
A transaction which involves under $5.00, the minimum Commission shall
be as determined by the broker.
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

1734

LOCAL STOCK EXCHANGE FIRMS

CLEVELAND
Borton & Borton, 810 Hanna Bldg.

Jackson & Curtis, 1737 Union Trust Bldg.

Butler, Wick & C’o., Union National Bldg.,
Youngstown, Ohio.

Livingston & Co., 1289 Union Trust Bldg.

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

Clark & Company, 2032 Union Trust Bldg.
Curtiss, House & Co., 1201 Union Trust Bldg.
Ettinger & Brand, 200 National City Bldg.
Fenner, Beane & Ungerleider, Leader Bldg.

Maynard H. Murch & Co., 1186 Union Trust Bldg.
Merrill, Hawley & Co., 1483 Union Trust Bldg.

David G. Skall & Co., 2031 Union Trust Bldg.

Murfey, Blossom & Co., 901 Guardian Bldg.

W. S. Snyder & Co., 2027 Union Trust Bldg.

Hayden, Miller & Co., 1250 Union Trust Bldg.

Otis & Co., 216 Superior Ave.

Schultz & Co., L. J„ 736 Union Tr. Bldg.

HORNBLOWER & WEEKS, 1040 Union Trust
Bldg.

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

Witt, Kraus & Co., 1338 Union Trust Bldg.

Will S. Halle & Co., 511 Swetland Bldg.

uxiuiuiuui vuuiiuisaiim ipi.uu

Cleveland Stock Exchange Officers:
J. P. Drach, Pres.
Fred H. Emery, Tr.

Wellsted, Macklin & Co., 1280 Union Trust Bldg

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

SCHEDULE OF COMMISSION RATES
Prices
Stocks Selling
81 and under

Commission
per Share
3c

Above $1 but under $10
$ 10 but under $ 25
fer
25 but under
50
25c
aoc
50 but under 125
125 but under 300
50c
300 but under 500
75,,
500 and over
$1 00
Minimum commission $2.00
Commission on bonds, $2.50 per $1,000, except on bonds with two
years or less to maturity—$1.25 per $1,000 00
In regard to stocks listed on both the Cleveland and New York Stock
Exchanges, the rate of commission of the respective exchanges whichever is
lowest shall apply on sales of such stocks on the Cleveland Exchange.

PORTLAND, OREGON
Atkinson, Jones & Co. Inc., 87 Sixth St.
Barneson & Co., H. J., 320 Stark St.
Blankenship, Gould & Keeler, Inc., Wilcox Bldg.
Blythe & Co., Pacific Bldg.
Burr, G. H., Conrad & Broom, Inc., 86 Sixth St.

Commonwealth Securities Corporation, 105 Sixth
St.

Holt, Robbins & Werschkul,
National Bank Bldg.

Dean Witter & Co., Porter Bldg.

Johnson, Roy A., U. S. Bank Bldg.

Federal Securities Co., American Bank Bldg.

Marshall Wright & Co., Pacific Bldg.

United States

Smith, Camp & Riley, Porter Bldg.

FERRIS & HARDGROVE, American Bank Bldg.

COMMISSION SCHEDULE
Effective March 28, 1930
Portland Stock and Bond Exchange Officers:
Colin Livingstone, Pres.
W. H. Hemphill, Tr.

On Stocks Selling

Richard Martin, V. Pres.
Fred Bergesch, Sec.

Under $1.00_____

BONDS
$2.50 per $1,000.
Liberty Bonds...

Per 100
Shares

---------------$2.50 Minimum Charge
$1.25 per $1,000 par value__$2.50

NOTE:
Whenever the commission charge based on the odd lot rate is higher than
a charge for a trading unit of the same stock, the latter amount may be
charged.
®,9™allJ;rarisacti.ons where the amount of money involved is less than
•plf t'O,’ the commission charge shall be optional, and when the amount is
over $10.00 but not more than $50.00, the commission charge shall be 5%
of the sum involved.
0
Commissions are “not less than” rates indicated above, Chapter XX,
Sec. 2, By-laws.
The commission on stocks listed on this and other exchanges shall be
not less than the commission on such other exchange or exchanges.

Odd Lots Minimum
(per share)
$.12*3
$2.50

At $1.00 and under $3.00

________4.00

.12y2

At $3.00 and under $5.00_.

________7.50

•12H

2.50

At $5.00 and under $10..

________10.00

■12H

2.50
2.50

2.50

At $10 and under $25.........

________17.50

.25

At $25 and under $50____

________20.00

.25

2.50

At $50 and under $75.............

------------ 22.50

.25

2.50

At $75 and under $100

................25.00

.25

2.50

________30.00

.30

3.00

___

At $100 and under $200.._

At $200 and over per share, the commission shall be increased $5 per 100
shares additional for each $50 or fraction thereof increase in selling price.
The commission on odd lots shall be on pro rata basis. The minimum
charge shall be one-tenth the commission charged for 100 shares.

PHILADELPHIA
BACHE, J. S., & CO., Pennsylvania Bldg.

Boenning & Co., 1606 Walnut Street.

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.

BROWN BROTHERS HARRIMAN & CO.,
1531 Walnut Street.

BIOREN & CO., 1508 Walnut Street.

Buckley Brothers, 1528 Walnut St.
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.

Dackerman & Maher, 517 Stock Exchange Bldg
DeHaven & Townsend, 1415 Walnut Street.
Diffenderffer & Co., 1611 Walnut Street.
Dixon & Co., 1411 Chestnut Street.
DREXEL & CO., 15th and Walnut Streets.
EASTMAN, DILLON & CO., 1506 Walnut St.
Elkins, Morris & Co., 305 Land Title Bldg.
Emory, Freed & Co., 109 S. 3rd Street.
Fox, Geo. S„ & Sons, 1600 Girard Trust Bldg.
French, E. W„ & Co., 123 S. Broad Street.

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


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

1735

LOCAL STOCK EXCHANGE FIRMS
PHILADELPHIA—continued
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.
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, Blssell & Meeds, 1528 Walnut Street.

Seeler & Co., 110 S. 3rd Street.
Sloane & Co., Phila. Stock Exchange Bldg.
Smith, Charles, & Sons, 610 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.
Wheeler & Co., 1100 Girard Trust Bldg.
Wilmer & Co., 123 S. Broad St.
Wolf Bros. & Co., 213-215 S. Broad 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
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.
Nick, J. F. & Co., 1516 Locust St.
Page, R. Y. & Co., Burlington, N. J.
Palmer & Co., E. W., 334 Commercial Trust Bldg.
Parrish & Co., 212 South 15th Street.
Phillips, Samuel K„ & Co., 1317 Packard Bldg.
Ristine, F. P., & Co., 123 S. Broad Street.
Sailer, A. J. & Co., 113 S. 5th 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

prjce

Rate Per Share

under 50c
__________ ____ _____ ...As mutually agreed
Selling at 50c and" above* blit under $1.00
Not less than
3c
Selling at $1.00 and above, but under $10.00------------Not ess than 7^c
Selling at $10.00 and above, but under $25.00..............Not less than 12Hc
Selling at $25.00 and above, but under $50.00..............Not ess than 15c
Selling at $50.00 and above, but under $75.00..............Not ess than 17Hc
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.

Selline

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, Aud.

COMMISSION RATES

prjce

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.

STOCK SUBSCRIPTION RIGHTS
Rate Per Right

qpiiincr under 50c
.............. .................. -.........As mutually agreed
Sellinf at 50c and" above, but under $1.00 ------------------Not less than 3c
Selling at $1.00 and above, but under $51)0...............----Not less than 5c
Selling at $5.00 and above, but under $10.00..................Not less than 7/|c
Selling at $10.00 and above-------------------------------------*ess than 15c
The minimum commission on any transaction for nonmembers shall be
$1.00.

Exception to Commission Rates, effective February 4, 1932:

Members are permitted to charge a commission equal to that in force in
any dual market in which a security is traded
All Special Commissions in force prior to February 4, 1932, have been
rescinded.

PITTSBURGH
Askin, George K„ Union Trust Bldg.
Askln & Company, J. M„ Columbia Bk. Bldg.
Ballard, W. E„ Keystone Bank Bldg.
Barbour & Company, John B., Magee Bldg.
Bear & Co., S. Lee, Union Trust Bldg.
Brinker, Bell & Co., Union Trust Bldg.
Carothers & Company, James, Union Bank Bldg.
Dornberger & Co., C. S„ 229 4th St.
Duckham & Co., W. A., Union Trust Bldg.
Edmundson, Jr., Eli, Columbia Bank Bldg.
EDWARDS & COMPANY, H. S. Union Bank
Bldg.

Foster & Company, Bayard, 244 Oliver Bldg.
Gammack & Company, Union Trust Bldg.
Giles & Co., R. C., Columbia Bank Bldg.

Goldsborough & Company, W. W., Union Bank
Bldg.
Hemphill, Noyes & Co., 446 Wood St.
Hetzel & Company, Henry G„ Benedum-Trees
Bldg.
Holmes & Company, J. H., 419 Wood St.
HORNBLOWER & WEEKS, First National
Bank Bldg.

Kane, John A., Colombia Bank Bldg.
Kay, Richards & Company, Union Trust Bldg.
Masten & Company, A. E„ 323 Fourth Ave.
McJunkin, Patton & Company, 414 Union Bank
Bldg.
McLaughlin, McAfee & Company, Clark Bldg.

Moore, Leonard & Lynch, Union Trust Bldg.
MORRIS, BROWN & COMPANY, 316 Fourth
Ave.

Nuttall & Company, R. V., Park Bldg.
Parrish & Company, Investment Bldg.
Post & Flagg, Oliver Bldg.
Preston, Watt & Schoyer, Union Bank Bldg.
Reynolds & Company, Grant Bldg.
Robinson & Orr, 248 Fourth Ave.
Stout & Company, Investment Bldg.
WELLINGTON & CO., Union Trust Bldg.

Wettach & Company, 218 Fourth Ave.
Wettengel & Company, A. C„ Peoples Bank Bldg.
Zacharias & Company, Union Trust Bldg.
RATES OF COMMISSION

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

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 ormunicipal bonds or
bonds and notes having five (5) years or less torun); for buying or selling
each share of stock, shall be not less than as follows:
Stocks selling under 50c a share--------------- --------.........---................ 3% *
Stocks selling at 50c and under $1.00------------------------ --------- ----- -03
Stocks selling at $1.00 and under $3.00........ ......................................... 04_
Stocks selling at $3.00 and under $10.00.............................. —................O’70
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........................................... -I75
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
Commission for buying or selling memberships in the Exchange shall be
1% of the price.
* 3% of the amount involved.

Further Information on firms appearing in bold face type


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

will be found In the selected list of Investment Dealers following bank list In each city.

1736

LOCAL STOCK EXCHANGE FIRMS

Branch, Cabell & Co., Law Bldg.

Davenport & Company, 113 E. Main Street.

Branch, Thomas & Co., 1101 E. Main Street.

Mason-Hagan, Inc., 916 E. Main Street.

Scott & Stringfellow, Mutual Bldg.

Bryan, Kemp & Company, 911 E. Main Street.

Murphy, G. M.-P. & Company, 923 E. Main Street

Wheat, Galleher & Company, American Nat’l Bk.
Bldg.

Burch, Caskle G. &Company, 1118 E. Main Street.

NOLTING, FRED’K E., INC., 907 E. Main St.

Williams, John C. & Company, 1107 E. Main St.

RICHMOND

Richmond Stock Exchange Officers:
Caskie G. Burch, Pres., Caskie G. Burch & Co.
E. Addison Rennolds, Vice-Pres., Thomas Branch & Co.
Henry C. S. Patterson, Secretary & Treasurer, Mason-Hagan, Inc.
COMMISSIONS
Selling under 50c...... ....................... ..................
— 3% of amount
Selling at 50c and under $1.00 per share_____
-. 5c per share
Selling at $1.00 and under $5.00 per share___
7^c “
“
Selling at $5.00 and under $10.00 per share__
..10c
“
“
Selling at $10 and under $15 per share............
12!^c per share
Selling at $15 and under $50........................
25c
“ “
Selling at $50 and under $150^..................... .
50c
Selling at $150 and over...... ..........................
1.00

RICHMOND CORP., 809 E. Main Street.

BONDS
Municipals, public utilities, and rails....................................25c per hundred
All others......................... ...... ..............................................50c “
••

SALT LAKE CITY
Baglin, George, Newhouse Bldg.

Dixon, B. W. Co., 407 Scott Bldg.
Conrad, W. K., Walker Bank Bldg.

Ballif, Jr., S. F., 119 So. Main Street.
Bemis, G. L., Newhouse Bldg.

Nebeker, W. D., Exchange Bldg.
Rankin, Lester, Boston Bldg.

Deming, J. H., Felt Bldg.

Badger, R. A. & Co., 6 West 2nd So. Street.
Barclay, Featherstone & Co., Newhouse Bldg.

Thomas, Arthur Inc., Newhouse Bldg.

Doscher, H. W„ Walker Bank Bldg.
Havenor, Pett & Co., Newhouse Bldg.

Ure, Pett & Morriss Inc., Beason Bldg.

CHILD, BARCLAY CO., Stock Exchange Bldg.

HOGLE, J. A. & CO., 132 So. Main Street.

Watson, Geo. H. & Co., 25 East So. Temple Street

Clark, W. H., Boston Bldg.
Cole Allen Co., Atlas Bldg.
Davies, Badger & Co., 23 W. 2nd So. St.

Lynch, J. C. & Co., Kearns Bldg.
Larson, A. R., Elks Club.
Mandell, J. J., Beason Bldg.

Whitney, C. L., Exchange Bldg.

Weiler, W. S., Exchange Bldg.

Woolley, F. R., Walker Bank Bldg.

Salt Lake City Stock Exchange Officers:
I. D. Lowe, President
W. H. Child, ls< Vice-Pres.
B. W. Dixon, 2nd Vice-Pres.
Blake Thomas, 3rd Vice-Pres.
J. H. Deming, Sec. and Treas.

SEATTLE
Blackford, John C., Hoge Bldg.
Blyth & Co., 1411 Fourth Ave.
Bramhall & Stein, Hoge Bldg.
Brown-Jeklin Co., Exchange Bldg.
Conrad Bruce & Co., 707 Second Ave.
DRUMHELLER, ERLICHMAN & WHITE,
Exchange Bldg.

Hawkins & Co., R. M., Exchange Bldg.

Pacific National Co., Second and Madison.
Peoples Bank & Trust Co., 2nd and Pike.

Herrin & Co., H. M., Exchange Bldg.

Puget Mortgage Securities, Inc., 1329 Third Ave.
Pratt & Co., H. P„ Hoge Bldg.
Price & Co., John E , National Bk. of Commerce
Bldg.

Kutz & Co., John A., Exchange Bldg.
Lanser & Co., J. F„ 812 Second Ave.
Latimer & Co., A. G., Dexter Horton Bldg.
Lewis, Erwin & Co., 202 Marion St.

The Quinn Smith Co., Dexter Horton Bldg.
Riker & Woolsey, Inc., Hoge Bldg.

Lockett & Co., G., Railway Exchange Bldg.

Easter & Co., F. K., 717 Second Ave.
Eberting & Co., C. H., Exchange Bldg.

Logan & Bryan, Exchange Bldg.

The Seattle Co., Second and Columbia.

FERRIS & HARDGROVE, Exchange Bldg.

Marine National Co., Second and Spring.

Smith & Strout, Inc., Leary 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.

McConahy, C. D., American Bank Bldg.

Speckert, Frank J., 105 Cherry St.

Meiklejohn & Brown, 1321 Smith Tower.

Moy, Theis & Co., Empire Bldg., 218 Marion St.

North Pacific Finance Corp., 1520 First Ave.

Underwriters Finance Corp., Colman Bldg.

Oaks, Prescott, 607-1411 Fourth Ave., Bldg.

United National Corporation, Exchange Bldg.

Seattle Stock Exchange Officers:
Charles G. Mullen, Pres.
F. K. Easter, Vice-Pres.
Harry J. Markey, Sec.
J. F. Lanser, Treas.
J. G. Rake, Exec. Sec.
Charles T Donworth, Counsel
RATES OF COMMISSION
Per Minimum
On Stocks Selling:
Share Charge
Under $1.00 per share..............................
.
5»S
$2.50
At $1.00 and under $2.50 per share____
A2y2i
2.50
At $2.50 and under $5.00 per share___
. 15)!
5.00
At $5.00 and under $25 00 per share___
. 25^
5.00
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

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.
_ ~

vuw wmiuiueivu VU nuuuuw OUU/Ul LI

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