Min Ute S of the Board of Pension Commissioners
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7(,'; MIN UTE S OF THE BOARD OF PENSION COMMISSIONERS MEETING OF DECEMBER 10, 1981 The Board of Pension Commissioners of the City of Los Angeles met in Room 155, City Hall South, on Thursday, December 10, 1981, at 9:23 a.m. COMMISSIONERS: Arthur Burdorf, President Pro Tem Sam Diannitto Garo Minassian Karl L. Moody DEPARTMENT OF PENSIONS: Wm. S. Hutchison, Acting Manager-Secretary James J. McGuigan, Assistant Manager-Fiscal Jerry Bardwell, Investment Officer CITY ATTORNEY: Mary Jo Curwen, Deputy City Attorney INVESTMENTS Century Capital Associates President Pro Tem Burdorf invited Mr. Richard Ehrman of Century Capital to come forward for presentation of investment recommendations. STOCK PURCHASE RESOLUTION NO. 82108 2525 NEW SYSTEM GENERAL PENSION FUND After discussion by the Board, it was moved by Commissioner Moody that upon the advice of investment counsel, the Manager-Secretary be authorized to purchase the following capital stock in an amount not to exceed: SHARES ISSUE 40,000 INA Corporation 66,000 Marine Midland Banks, Incorporated 60,000 Mobil Corporation 40,000 Royal Dutch Petroleum Company at the market, plus commission and charges and that this authorization for the purchase be in effect for not to exceed 30 business days after this date, which motion was seconded by Commissioner Diannitto and adopted by the following vote: ayes, Commissioners Diannitto, Minassian, Moody and President Pro Tem Burdorf - 4; noes, none. Chemical Bank STOCK PURCHASE RESOLUTION NO. 82117 2525 NEW SYSTEM GENERAL PENSION FUND After discussion by the Board, it was moved by Commissioner Diannitto that upon the advice of investment counsel, the Manager-Secretary and/or Chemical Bank Investment Management be authorized to purchase up to $3,500,000 capital stock in each of the following companies at the market, plus commission and charges: Abbott Laboratories American Express Company Aetna Life & Gas Company American Home Products Corporation Air Products & Chemical Incorporated American Hospital Supply Allegheny International Incorporated American International Group Allied Corporation American Medical IntI. Incorporated Allied Stores Corporation American National Resource Company Aluminum Company America American Telephone & Tele Company Amax Incorporated AMF Incorporated American Broadcasting AMP Incorporated American Can Company Anheuser Busch Cos Incorporated American Cyanamid Company Apache Corporation American Electric Power Incorporated Archer Daniels Midland Arkla Incorporated Dana Corporation Armco Incorporated Dart & Kraft Incorporated Asarco Incorporated Dayton Hudson Corporation Ashland Oil Incorporated De Luxe Check Printers Atlantic Richfield Company Deere & Company Automatic Data Process Delta Air Lines Del Avnet Incorporated Disney Walt Productions Avon Products Incorporated Dover Corporation Bankamerica Corporation Dow Chemical Company Bankers Trust New York Corporation Dresser Industrial Incorporated Barnett Banks Florida Incorporated Du Pont E I De Nemours Baxter Travenol Laboratories Duke Power Company Beatrice Foods Company Dun & Bradstreet Corporation Beckman Instruments Incorporated Duriron Incorporated Becton Dickinson & Company E Systems Incorporated Belco Petroleum Corporation Eagle Picher Industrial Inc. Bell & Howell Company Eastern Gas & Fuel Association Betz Laboratories Incorporated Eastman Kodak Company Big Three Industries Company Eckerd Jack Corporation Black & Decker Manfacturing Company Edison Brothers Stores Inc. Blue Bell Incorporated Emerson Electric Company Boeing Company Emhart Corporation virginia Bristol Myers Company Engelhard Corporation Brown Forman Distillers Evans Products Company Bucyrus Erie Company Ex Cell 0 Corporation Burlington Industries Incorporated Exxon Corporation Burlington Northern Incorporated Burndy Corporation Federal Company Burroughs Corporation Federal Mogul Corporation Campbell Taggart Incorporated Federated Department Stores Capital Cities Community First Charter Finl Cp Carlisle Corporation First City Bancorp Texas Carolina Power & Light Company Florida Power & Light Company Carpenter Technology Fluor Corporation Caterpillar Tractor Company Ford Motor Company Del CBI Industrial Incorporated Fort Howard paper Company CBS Incorporated Foxboro Company Celanese Corporation Gannett Company Central & So West Corporation General Electric Company Central LA Energy Corporation General Foods Corporation Central Telephone & Utilities Cp General Instrument Corporation Cessna Aircraft Company General Mills Incorporated Champion International Corporation General Motors Corporation Chase Manhattan Corporation General Re Corporation Chemical Nuclear System Incorporated General Signal Corporation Chemical New York Corporation General Telephone & Electro Chesapeake Ponds Incorporated Genuine Parts Company Chubb Coporation Georgia Pacific Corporation Cincinnati Milacron Getty Oil Company Citicorp Goodyear Tire & Rubber Cities Service Company Gould Incorporated Cleveland Cliffs Iron Goulds Pumps Incorporated Coca Cola Company Grace W R & Company Colgate Palmolive Company Grainger W W Incorporated Collins & Aikman Corporation Greyhound Corporation Colonial Life & Accident Insurance Gulf CDA Limited Colt Industries Incorporated Del Gulf Oil Corporation Combined International Corporation Halliburton Company Combustion Engineering Incorporated Harris Corporation Delaware Community Psychiatric Hart Schaffner & Marx Connecticut General Corporation Harte Hanks Community Incorporated Consolidated Freightway Heinz H J Company Consolidated Natural Gas Helmerich & Payne Incorporated Continental Corporation Hercules Incorporated Continental Tel Corporation Hewlettt Packard Company Cooper Industries Incorporated Hilton Hotels Corporation Corning Glass Works Holiday Inns Incorporated Cox Broadcasting Corporation Homestake Manufacturing Company CPC International Incorporated Honeywell Incorporated Crane Company Hoover Universal Incorporated Cross A T Company Hospital Corporation American Crown zellerbach Corporation Houston Industries Incorporated Crum & Forster Houston Natural Gas Coporation CSX Corporation Hughes Tool Company Humana Incorporated Nippon Electrical Limited Imperial Oil Limited NL Industrial Incorporated INA Corporation Noble Affiliates Incorporated Inco Limited Northern Telecom Limited Ingersoll Rand Company Northern States Power Minnesoto Interco Incorporated Northrop Corporation International Business Machines Northwest Airlines Incorporated International Flavors & Fragrances Northwest Bancorp International Minerals & Chemicals Northwest Industries Incorporated International Paper Company Norton Company International Tel & Tele Interpace Corporation Norton Simon Incorporated Irving Bank Corporation Occidental Pete Coporation Jefferson Pilot Corporation Ocean Drilling & Exploration Jewel Cos Incorporated Ohio Gas Corporation Johnson & Johnson Owens Corning Fiberglass Joy Manfacturing Company Pacific Gas & Electric Company K Mart Corporation Pacific Lumber Company Kellogg Company Panhandle Eastern Corporation Kennametal Incorporated Parker Drilling Company Kerr McGee Corporation Payless Cashways Incorporated Keystone International Incorporated Penney J C Incorporated Kidde Incorporated Pennwalt Corporation Kimberly Clark Corporation Peoples Energy Corporation Kyoto Ceramic Limited Perkin Elmer Corporation Leaseway Transamerican Corporation Petrie Stores Corporation Lenox Incorporated Petrolane Incorporated Liberty National Insurance Building Pfizer Incorporated Lilly Eli & Company PHH Group Incorporated Litton Industries Incorporated Phibro Corporation Lone Star Industries Incorporated Philip Morris Incorporated Louisiana Land & Exploration Company Phillips Pete Company Louisiana Pacific Corporation Piedmont Aviation Company Lubrizol Corporation Pioneer Corporation Texas Macy R. H. & Company Incorporated Pioneer Hi Bred International Mallinckrodt Incorporated Pittston Company Manufacturers Hanover Potlatch Corporation Mapco Incorporated PPG Industries Incorporated Marathon Oil Company Proctor & Gamble Company Marsch & McLennan Provident Life & Acc. Insurance Martin Marietta Corporation Public Service Co. Ind Inc. Masonite Corporation Ralston Purina Company May tag Company Raytheon Company MGA Incorporated RCA Corporation McDermott Incorporated Reading & Bates Corporation McDonalds Corporation Republic Texas Corporation McGraw Hill Incorporated Revco D S Incorporated Mead Corporation Revlon Incorporated Melville Corporation Reynolds Metals Company Merck & Company Incorporated Reynolds R J Ind. Incorporated Mesa Pete Company Rite Aid Corporation Metromedia Incorporated Roadway Express Company Midland Ross Corporation Rohm & Haas Company Millipore Corporation Sabine Corporation Minnesota Management & Mfg Company Safeway Stores Incorporated Mitchell Energy & Dev Schering Plough Corporation Mobil Corporation Schlumberger Limited Monarch Cap Corporation Seafirst Corporation Monsanto Company Seagram Limited Moore McCormack Sealed Power Corporation Morgan J P & Company Incorporated Sears Roebuck & Company Morton Norwich Products Servicemaster Indus. Incorporated Motorola Incorporated Shaklee Corporation Mountain Fuel Supply Shell Oil Company Nabisco Brands Incorporated Signal Cos Incorporated Nalco Chemical Company Signode Corporation National Medical Care Incorporated Smith International Incorporated National Medical Enterprise Smithkline Corporation NCR Corporation Snap On Tools Corporation New York Times Sony Corporation Newmont Manfacturing Corporation Southern California Edison Nicor Incorporated