March 12, 1959: Investment Traders Association of Philadelphia Annual
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in z sections — Section Commercial and Reg. U. S. Pat. Office Volume 189 Number 5828 New York 7, N. Y., Thursday, March 12, 1959 Price 50 Cents a Copy INVESTMENT TRADERS ASSOCIATION • A - ft ANNUAL MID-WINTER • tlLf J At Bellevue Stratford Hotel ' DINNER T \1 FEBRUARY 27, 1959 President First Second Vice-President Vice-President Secretary Treasurer James B. McFarland Stroud & Company, Incorporated Rubin Hardy Wiilard F. Rice John E. Knob Jack Christian The First Boston Eastman Dillon, Drexel & Co. Janney, Dulles & Union Securities Corporation Battles, Inc. & Co. % : I BOARD OF GOVERNORS Robert F. Donovan Harry F. Green, Jr. H. E. Beattie, Jr. Edgar A. Christian .Joseph J. Cummings L. Craig Dick, Jr. John M. Hudson Stanley W. Jeffries ' Samuel M. Kennedy H. A. Riecke"& Co., Suplee, Yeatman, Brooke & Dick Co. Blyth & Co., Inc. Merrill Lynch, Co. Lewis C. Thayer, Baker & Co. Newburger & Co. Yarnall, Biddle & Co. Inc. Mosley Co., Inc. Pierce, Fenner & ■ , . r * Smith, Incorporated .? ,. j i Thomas J. Love James J. McAfee James G.Mundy William R. Radetzky Wallace H. Runyan Rudolph Sander Joseph E. Smith Chas. L. Wallingford John F. Weller E. Coit Williamson Geo. E. Snyder & Co. Butcher & Sherrerd Suplee, Yeatman, New York Hanseatic Hemphill, Noyes & Butcher & Sherrerd Newburger & Co. Janney, Dulles & Goldman, Sachs & Schmidt, Roberts & Mosley Co., Inc. Corpor<xtion Co. Battles, Inc. Co. Parke Digitized for FRASER http://fraser.stlouisfed.org/ ■l Federal Reserve Bank of St. Louis e Commercial and Financial Chronicle . Thursday, March 12, 1959 Jim McFarland, Stroud A Company, Incorporated; Joseph Smith, Newburger A Co.} Letter Thorsen, Bill Doerr, American Securities Corporation; Leon Dorfman, Goldman, Sachs A Co. (New York); Glore, Forgan A Co. (Chicago); Phil Loomis, Securities A Exchange Commission; Jack Klingler, Goldman, Sachs A Co.; Wallace Runyan, Hemphill, Noyes A Co. Ed Kelly, Carl M. Loeb, Rhoades A Co. (New York) HERE ARE STROUD TRADERS YOU TALK TO: Harry Snyder, Yarnall, Riddle A Co.; Tom Love, Geo. E. Snyder A Co.; Jim Lynch, Paul D. Sheeline A Co. (Bostcn) For Bonds, Equipment Trust Certificates, and Railroad Securities jggI Frank J. Laird Allen B. Foard, Jr. For Bank Stocks, Industrial Stocks and Public Utility Stocks James B. McFarland Raymond A. Morris, Jr. For Sales Orders Robert N. Greene For Municipal Bonds Russell M. Ergood, Jr. Vice-President X'-" - Michael J. Rudolph J. Richard Hoffman f' VV**T / '/ " ' '/ Alexander B. Brock Alfred H. Williams X r • • • • e • •••••• James Mickley, Girard Trust Company; Lawrence llloway, Penington, Colket A Co.; John Flynn, E. W. Clark A Co. For Institutional Transactions L. Wister Randolph -Robert J. Campbell Franklin M. Seeley For Statistical Services Raymond A. Lefkof For Field Representation Felix E. Maguire Vice-President ; STROUD & COMPANY, INCORPORATED 123 South Broad St., Phlla. 9-PE 5-7330 120 Broadway, N.Y. 5 • WO 4-8400 PITTSBURGH . ALLENTOWN • LANCASTER Samuel Kennedy, Yarnall, Riddle A Co.; Fred Carter, de Haven A Townsend, Croater & Bodine; Floyd Justice, Kidder, Peabody & Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PICTORIAL 3 Volume 189 Number 5828 . The Commercial and Financial Chronicle Drexel&Co. , ' ' ■ * " Established 1838 We Maintain Markets in the Following Stocks: The First Pennsylvania Banking & Trust Co. Girard Trust Corn Exchange Bank > . : - Philadelphia National Bank V. Provident Tradesmens Bank & Trust Co. Philadelphia Suburban Water Co. American Eddie Opper, J. B. Maguire & Co., Inc. (Boston); Harry Gumm, G. A. Saxton & Co., Inc. (New York); Dredging Company Sol Bass, Bear, Stearns & Co. (New York); Bill McCullen, Hendricks & Eastwood, Inc.; Chesapeake Instrument Corporation Jim Traviss, S. J. Brooks & Company (Toronto) The Hanover Shoe, Inc. Members New York Stock Exchange American Stock Exchange (Assoc.) Philadelphia-Baltimore Stock Exchange Philadelphia 1 New York 5 1500 Walnut St. " ' 30 Wall Street Jim McFarland, Stroud & Company, Incorporated; Frank McKee, Beneficial Savings Fund; L. Paul Close, Rambo, Close & Kerner, Inc.; Edmund J. Davis, Rambo, Close & Kerner, Inc. Underwriter • Distributor • Dealer MSB r j P W0. 'mWKk L 1 Securities of the United States Government and its Agencies State, Municipal, Revenue and Housing Securities Bonds, Preferred and Common Stocks of Industrial, Public Utility and. Railroad Corporations Bank Stocks Casualty, Fire and Life Insurance Forrest Duble, Parrish & Co.; Robert Farrell, Laird, Bissell & Meeds (New York); Thomas D. Call, Company Stocks Woodcock, Hess, Moyer & Co., Inc.; Felix Maguire, Stroud & Company, Incorporated; George Nehrbas, Parrish & Co. Bankers' Acceptances Securities of the International Bank for Reconstruction and Development t '' ••:. *»- Canadian Securities ' v ' 1, * External Dollar Securities ; The . : FIRST BOSTON CORPORATION ■■ • ' I New York Boston Pittsburgh Chicago Philadelphia San Francisco Cleveland Lee Alfren, Salomon Brothers & Hutzler; Joseph J. Hayes, Eastman Dillon, Union Securities & Co. (New York); Willard Rice, Eastman Dillon, Union Securities & Co.; John Lamb, Penington, Colket & Co. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 4 PICTORIAL The Commercial and Financial Chronicle . Thursday, March 12, 1959 Blyth & Co., Inc. Public Utilities Primary Markets Industrials With Complete Bank and Insurance Trading Facilities Municipals Austin Umstead, A. E. Masten & Company (Pittsburgh); Bob Hart, Euler & Hart; Frank Gorman, H. G. Kuch and Company; Bob Lienhard, Troster, Singer & Co. (New York) aL Bonds * Preferred Stocks • Common Stocks NEW YORK • SAN FRANCISCO • CHICAGO • LOS ANGELES • SEATTLE • PORTLAND BOSTON • PHILADELPHIA • PITTSBURGH • CLEVELAND • LOUISVILLE • INDIANAPOLIS DETROIT • MINNEAPOLIS • SPOKANE • OAKLAND • EUREKA • SACRAMENTO PASADENA • SAN DIEGO • SAN JOSE • FRESNO • PALO ALTO • OXNARD George Durang, Merrill Lynch, Pierce, Fenner & Smith, Incorporated; Jim Patterson, Merrill Lynch, Pierce, Fenner & Smith, Incorporated (New York); Harry Green, Jr., Merrill Lynch, Pierce, Fenner Smith, Incorporated; Joseph Girard, H. A. Riecke & Co., Inc. Fred Knob, Eastman Dillon, Union Securities & Co.; Rob Naylor, H. N. Nash & Co.; John Wallingford, Hecker & Co.; Bob Sanford, New York Hanseatic Corporation Clearance A special department is maintained for a large clientele of Brokers and Security Dealers. We specialize in settling and handling all types of securities transactions locally and nationwide. Re¬ deliveries are promptly handled by messenger or as collections through our network of Correspond¬ ent Banks. The cost is moderate. Inquiries invited. m First Pennsylvania Banking and Trust Company PHILADELPHIA, PA. 34 OFFICES—SERVING MORE PEOPLE MORE WAYS THAN ANY OTHER PHILADELPHIA BANK Member Federal Deposit Insurance Corporation Peter Cardamone, Albert Tetter & Co.; Albert Teller, Albert Tetter & Co.; Charles Dudichum, Delaware Fund (Wilmington Del.) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PICTORIAL 5 Volume 189 Number 5828 . The Commercial and Financial Chronicle Primary Markets Underwriters Bank and Insurance Stocks Dealers Christiana Securities Distributors Unlisted Securities Corporates & Municipals Laird, Bissell & Meeds Members New York and American Stock Exchanges Philadelphia National Bank Building Philadelphia 7, Pa. Jack Barker, Lee Higginson Corporation (New York); Stan Dawson-Smith, Cruttenden, Podesta & Co. (New York); Ken Robertson, Birely & Company (Washington, D. C.); Telephone LOcust 7-6226 Belt Teletype PH 1386 Jim Gahan, E. F. Hutton & Company (New York) • ■'] ' v- v.*.y.1 * WILMINGTON, DEL. NEW YORK CITY NEW HAVEN, CONN. ZURICH, SWITZERLAND SALEM, N. J. DOVER, DEL. Butcher 6- Sherrerd ESTABLISHED 1910 CORPORATE TRADING DEPARTMENT I James J. McAtee, Manager Jack Murphy, Hornblower & Weeks; Coit Williamson, Schmidt, Roberts & Parke; Barney Nieman, Rudolph C. Sander Walter E. Gemenden ; ' Carl Marks & Co. Inc. (New York) Alvin W. Jordan, Jr. MUNICIPAL TRADING DEPARTMENT James W. Heward, Manager John B, Richter Henry P. Glendinning, Jr. Joseph E. Labrum Wm. D. Sherrerd, III MEMBERS New York Stock Exchange Philadelphia-Baltimore Stock Exchange American Stock Exchange (Associate) 1500 WALNUT STREET • PHILADELPHIA 2, PA. Philadelphia Telephone Teletype New York Telephone PEnnypacker 5-2700 PH-4 BArclay 7-4641 Col. Oliver J. Troster, Troster, Singer & Co. (New York); Walter Schmidt, Schmidt, Roberts & Parke When it's in ... • PHILADELPHIA • THE DELAWARE VALLEY • PENNSYLVANIA Call • Vic Mosley • Ed Christian - • Jim Mundy • Harry Undy SUPLEE, YEATMAN, MOSLEY CO. INCORPORATED 1500 Walnut Street • Philadelphia 2, Pa. TELEPHONE: KIngsley 5-1343 TELETYPE; PH 242 NEW YORK TELEPHONE CAnal 6-7207 Hy Frankel, Singer, Bean & Mackit, Inc. (New York); John Marshall, White, Weld & Co. (New York); Ed Larkin, White, Weld <ft Co. (New York); Dick Martin, White, Weld & Co. (Philadelphia) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 6 PICTORIAL The Commercial and Financial Chronicle . Thursday, March 12, 1959 e. w. clark & co. r'l ESTABLISHED 1837 - ' i ; • • • MEMBERS » . PHILADELPHIA-BALTIMORE STOCK EXCHANGE NEW YORK - STOCK EXCHANGE , AMERICAN STOCK EXCHANGE (ASSOC.) • LOCUST AT 16th STREET PHILADELPHIA 2 Telephones: \ /' Philadelphia KIngsley 5-4Q00 New York WHitehall 3-4000 Germantown • Lancaster • York Don Kobitaiue, Burns Bros. & Denton, Inc. (New York); Milton Capper, Capper A N. J.); Charles