The COMMERCIAL and FINANCIAL
Established 1839 Reg. U. S. Pat. Off.
THE LEADING AND MOST INFORMATIVE PUBLICATION IN THE FINANCIAL FIELD . . . ESTABLISHED 1839
Volume 197 Number 6256 New York 7, N. Y., Thursday, April 18, 1963 Price 50 Cents a Copy In 2 Sections —Section 2
31ST ANNUAL DINNER:
KING EDWARD SHERATON HOTEL APRIL 5, 1963
HONORARY HONORARY HONORARY CHAIRMAN VICE-CHAIRMAN SECRETARY TREASURER CHAIRMAN VICE-CHAIRMAN VICE-CHAIRMAN
M. A. Brown A. E. St. Marie J. M. D. De La Cour D. M. Carnell A. E. Oliver Harold S. Backus Edward M. Saunders
Gairdner & Company, Midland Securities Osier, Hammond & Greenshields Wood, Gundy & McLeod, Young, Weir Saunders Cameron Limited Corpn. Limited Nanton Ltd. Incorporated Company Limited & Company Limited Ltd.
Peter D. Ferriss Thomas J. Ormesher M. H. Seagram William G.Jones R. J. Lawrence PeterS. Crysdale Bartlett, Cayley & A. E. Ames & Co., The Bank of Burns Bros, and Fry & Company Mason & Crysdale Company, Limited Limited Nova Scotia Denton Limited Limited Limited (ex-officio)
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 197 (2) Thursday, April 18, 1963 Volume Number 6256 ... A Supplement to the Commercial and Financial Chronicle
Earl Hagensieker, Reinholdt & Gardner (St. Louis); Sid Jacobs, Sidney Jacobs Co. (New York City); Bud Stroly, A. E. Ames & Co. Limited; H. A. Cascadden, A. E. Ames & Co. Limited; A1 Clark, Bank of Canada (Ottawa) Joe Pope, Pope & Company; Bob Macintosh, Bank of Nova Scotia; Ed King, Wood, Gundy & Co. Ltd.
Doug Moss, J. W. A. Tedder, S. Ji Perry and G. A. Ferguson, all of Toronto-Dominion Bank
Jim Belshaw, Annett <£ Company Limited; Bob McElwain, Canadian Imperial Bank of Commerce; H. L. Johnston, J. L. Graham & Company Ltd.
McLeod,Youhg,Weir & Company LIMITED
Members: The Investment Dealers' Association of Canada
Government, Municipal and
Brian Steel, Greenshields Incorporated Corporation Securities (Montreal); John Newman, Greenshields Incorporated; Ian Finlayson, Greenshields Incorporated; Peter Kilburn, Greenshields Incorporated (Montreal)'; Peter,. Cole, Greenshields Incorporated; Ken Lucas, Annett & Company Limited
Stock orders executed on all Exchanges
Head Office 50 KING STREET WEST, TORONTO Gairdner 8 Gompany Limited Montreal Ottawa Winnipeg London Vancouver Hamilton 320 Bay Street, Toronto, Canada Calgary Kitchener Quebec Sherbrooke Windsor Edmonton New York We provide a complete service for corporate financing in Canada. Private enquiries from dealers invited.
Affiliate: Affiliate Members: "
. Gairdner McLeod,Young,Weir The Investment & Company Inc. Dealers' Association 60 Wall INCORPORATED of Canada Street, New York
All Major Canadian 1 CHASE-MANHATTAN PLAZA NEW Toronto YORK Stock Calgary Edmonton Halifax Hamilton Exchanges , Kingston Kitchener London Moncton Montreal Ottawa Quebec Vancouver Winnipeg
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Volume 197 Number 6256 ... A Supplement to the Commercial and Financial Chronicle Thursday, April 18, 1963 (3)
BONDS STOCKS
Markets maintained in all classes of Canadian
, external and internal bond issues.
Stock orders executed on the Montreal and Toronto
Stock Exchanges, or net New York markets quoted on request. Robert Alexander, Hamilton, Ross, Knowles & Co., Ltd.; Cam Laidlaw, O'Brien & Williams; Ernie Jarvis, Wisener, Machellar & Company Ltd.; John Whitelaw, Bank of Montreal (Toronto)
Direct Private wires to Toronto, MontreStK Ottawa, Winnipeg, Calgary, Vancouver, Victoria and Halifax BELL SYSTEM TELETYPE 212 Wl'0880
Dominion Securities Corporation Associate Member American Stock Exchange Boston Toronto 40 EXCHANGE London, Eng. PLACE, NEW YORK 5 Montreal Paris, France Telephone WHltehall 4-8161 Winnipeg Ottawa Vancouver Calgary Canadian Affiliate — Member Toronto, Montreal Victoria Edmonton and Canadian Stock Exchanges Halifax
Canadian
Investment Securities
Mike Albright, Royal Securities Corporation Limited; Mike Edgecombe, Fry & Company Ltd.; John Cluff, Kamm, Garland <& Co., Ltd.; Jim Lippett, Kamm, Garland UNDERWRITERS AND DISTRIBUTORS A. E. Ames & Co. Members Toronto and Montreal Stock Exchanges Affiliated offices in sixteen cities in Canada, England and France A. E. Ames & Co. Incorporated Two Wall Street, New York 5, N. Y. BUSINESS ESTABLISHED 1889 Bruce Blandford, Canadian Imperial Bank of Commerce; Hugh Mackay, Hugh Mackay & Co. Ltd.; Howie Masson, Royal Bank of Canada; Bill Miller, Royal Bank of Canada an Qffl?"""I in»! I Burns Bros. & Denton, Inc. 1 5 Two Broadway, New York 4, N. Y. DI 4-3870 Underwriters and Dealers 5 Provincial and Municipal Bonds = ■5 : " Affiliated with: = Burns Bros, and Denton Limited = E Toronto, Canada S mm « JJJJJ . E Direct Private Wires to: ~ ■Sj Toronto • Montreal • Winnipeg • Ottawa e 5 Hamilton • Vancouver • Calgary z John Abell, Wood, Gundy & Company Limited; O. L. Robertson, Canadian Imperial Bann ot Commerce; William Small, Bank of Montreal (Montreal); Roy McCloskey, Royal Bank of Canada gllllllllllllllllllllllllllllllllllllllllllllllllllllllllHIIIIIllllllllllllllllllllllllllHlllR Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis (4) Thursday, April 18, 1963 Volume 197 Number 6256 A Supplement to the Commercial and Financial Chronicle At Your Service Midland Securities Corpn. Limited MEMBER: THE INVESTMENT DEALERS' ASSOCIATION OF CANADA The Midland Company Limited MEMBER: TORONTO STOCK EXCHANGE MONTREAL STOCK EXCHANGE CANADIAN STOCK EXCHANGE Midland Gilbert Smith, Toronto Dominion Bank; Bellman Canadian Mason, Mason & Crysdale Limited; Mickey McBride, Corporation Midland Securities Corpn. Limited; Claude D. Seibert, Commercial & Financial Chronicle (New York) NEW YORK CITY Brawley, Gathers & Co. Members Investment Dealers' Association of Canada Toronto Stock Exchange • Ozz Patryluk, Bankers Bond Corporation Limited; Karel Stonner, Bankers Bond Corporation Ltd.; CANADIAN Don Peace, Machellar & Co. Wisener, Limited; Bob Ferguson, Wisener, Mackellar & Co. Limited GOVERNMENT-MUNICIPAL-CORPORATION SECURITIES • ' ' -J; * . " .. * CANADIAN BANK OF COMMERCE BUILDING EMPIRE 3-5821 TORONTO Frank McDonald, Howard Hawke, and John H. Brown, Gairdner & Company Limited canadian securities O k IE specialize in servicing dealers 1/1/ by obtaining or placing blocks of Canadian listed or over-the-counter ; • securities. Our Trading Department maintains firm markets on listed and unlisted TRADING DEPT. issues in U. S. funds and is available EMpire 6-5831 for all TELEX 02-2461 types of dealer or institutional transactions. WISENER, MACKELLAR AND COMPANY LIMITED MEMBERS MEMBERS THE INVESTMENT DEALERS' THE TORONTO STOCK EXCHANGE ASSOCIATION OF CANADA TELEPHONE 366-6996 220 Bay Street, Toronto 1, Canada Ross Hilborn, Fergus Mallon, Douglas Pearson, and Arthur Brooke, all of McLeod, Young, Weir & Co, Ltd. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Volume 197 Number 6256 ... A Supplement to the Commercial and Financial Chronicle Thursday, April 18, 1963 (5), CANADA— Service on all Securities When you require information or quotations on any Canadian Industrial, Mining or Oil security, our research and trading facilities are at your disposal, Monthly Investment Bulletin on Request Stuart Robertson, Toronto Dominion Bank; Howard Bennett, James Richardson & Sons; Donald Strath, James Richardson <£ Sons; George Simpson, James Richardson & Sons; S. B. Phipps, Assistant General Manager, James Richardson & Sons Ross, Knowres & Co. Ltd. Members: The Toronto Stock Exchange and The Investment Dealers' Association of Canada 105 ADELAIDE STREET WEST TORONTO, CANADA Hamilton Brantford Brampton Sudbury Sarnia Windsor London Niagara Falls, Ont. Nesbitt, Thomson and Company, Limited J. Lascelies, Dominion Securities Corporation Limited; Laurie Virtue, James Richardson & Sons; Don Erwood, Harris & Partners Limited; Larry Bell, James Richardson & Sons 355 St. James Street West, 350 Bay Street, MONTREAL TORONTO MONTREAL QUEBEC TORONTO OTTAWA HAMILTON LONDON, ONT. KITCHENER PETERBOROUGH BARRIE GODERICH WINNIPEG REGINA CALGARY EDMONTON VANCOUVER VICTORIA SAINT JOHN FREDERICTON MONCTON • HALIFAX CHARLOTTETOWN NEW YORK LONDON, ENG. Canada-Wide Bond Trading Services With Affiliates in New York and London, England Nesbitt, Thomson and Company, Inc. 25 Broad Street, NEW YORK 4, NEW YORK John Whyte, Allan Bracher, Phillip Tingley, and R. R. Corson, all of McLeod, Young, Weir & Co. Ltd. CANADIAN SECURITIES complete facilities for Canadian stock and bond trading Sid Jacobs, Sidney Jacobs Co. (New York); Murry Brown, Gairdner & Company Limited; Earl Hagensieker, Reinholdt & Gardner (St. Louis) James Richardson a SonsJnc. 14 Wall Street Investment Securities New York 5, N. Y. Telephone Canadian Affiliate DIgby 9-2850 James Richardson & Sons Established 1857 y Serving Investors Across Canada R. D. Mulholland, General Manager, Bank of Montreal (Montreal); Mickey McBride, Midland Securities Corpn. Limited; T. D. Lewis, Bank of Montretf (Toronto) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Volume 197 Number 6256 ... A (6) Thursday, April 18, 1963 Supplement to the Commercial and Financial Chronicle Members The Investment Dealers' Association of Canada All Principal Canadian Stock Exchanges Bellman H. Mason, Mason A Crysdale, Limited; A. A. Kirk, Equitable Securities Canada Limited; T. G. Mulligan, Nesbitt, Thomson A Company Limited; Dave Carnell, Greenshields Incorporated 40 Adelaide Street West Toronto, Ontario, Canada Canadian Government, Municipal and Corporation Securities AI Horton, Bank of Montreal (Toronto); Fred Henderson, Cochran, Murray A Co., Limited; T. B. Wilson, W. C. Pitfield A Company Limited; R. H. Goold, Bank of Montreal (Toronto) ANDERSON & COMPANY LIMITED Members The Investment Dealers' Association of Canada DOMINION BANK BUILDING, TORONTO Canadian Government and Corporation Securities Short Term Paper E. J. Allman, Annett A Company Limited; J. B. Mellock, Annett A Company Limited; Gerry Auchincloss, Annett A Company, Limited; George Beck, Bartlett, Cayley & Company Limited 4 King Street West • Toronto Telephone 362 6121 affiliate of T. A. Richardson & Co. Members The Toronto Stock Exchange Arthur Pierce, Greenshields Incorporated; Jack McCullough, Charles King A Co.; Harold Irving, Walwyn, Stodgell & Co. Dominion Securities Corporation Ltd.; Albert Loeffler, Coodbody A Co. (New York) Limited Members: Toronto Stock Exchange The Winnipeg Stock Exchange The Investment Dealers' Association of Canada STOCK ORDERS EXECUTED ON ALL EXCHANGES 7 KING STREET EAST, TORONTO Telephone: 364-1131 WINDSOR, WINNIPEG, HAMILTON, CORNWALL, PORT HOPE A. I. Green, D. A. Thompson, J. L. Mackay, and A. J. Langley, all of Dominion Securities Corp. Ltd. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Volume 197 Number 6256 ... A Supplement to the Commercial and Financial Chronicle Thursday, April 18, 1963 (7) ANNETT & COMPANY LIMITED Member: The Investment Dealers' Association of Canada VvV ■ ':V ■'*■> • ;'- ' ' K-'-:Y V;T:r ";v ' ■ . ' CANADIAN GOVERNMENT AND CORPORATE SECURITIES 220 BAY STREET. TORONTO 1. ONTARIO. TELEPHONE 362-7661 W. Richardson, Mills, Spence & Co., Ltd.; J. F. Van Duzer; Mills, Spence & Co., Ltd.; Bruce 129 ST JAMES ST. W Maxwell, Dominion Securities Corporation Limited;, A. H. Williams, Fairclough Co.; Ltd. . MONTREAL 1. QUE . TELEPHONE VICTOR 4-4451 Affiliated with ANNETT PARTNERS LIMITED Member: Toronto Stock Exchange. Harold Jarvis, A. E. Ames & Co. Limited; Alex Shaw, Bank of Nova Scotia; D. F. McGill, A. E. , ■ , Ames Equitable Securities Canada -■Limited : Member of The Investment Dealers' Association of Canada Equitable Brokers Limited Member of The Toronto Stock Exchange Canadian Investment Securities Head Office Paul 60 Gooderham, Gairdner & Company Limited; Ian Ferguson, Gairdner U. S. Subsidiary: Equisec Canada Inc. J. G. Carnegie, McConnell KERNAGHAN & CO. LIMITED •rr-""" INVESTMENT SECURITIES .h.«Tb.Toro»'gil^i: .. ' . / . ' v..'.-v..._ .. ; " "" >' : 2nd Floor, 365 Bay St., TORONTO, EM. 4-4256 IACONFINDLEY COYNE Specialists in Special Situations IL TIM t D Hsmtnrs //iitstmsnt Dealers' Association of Canada Government, Municipal and Corporation Bonds „ THOMSON KERNAGHAN & CO. LTD Members The Toronto Stock Exchange THOMSON KERNAGHAN INC. 181 BAY 1 Chase Manhattan Plaza STREET, TORONTO 1, CANADA HA 5-4343 New York 5 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis (8) Thursday, April 18, 1963 Volume 197 Number 6256 ... A Supplement to the Commercial and Financial Chronicle J. R. Kimber, Vice-Chairman, Ontario Securities Commission; Buss John I. Duffy, Hanson, Richardson & Co. Ltd.; Harry B. Tindale, Harold S. Backus, McLeod, Young, Weir & Company Limited; Moorhouse, F. H. Deacon & Company Limited; Brig. General H. D. Hanson, Richardson & Co. Ltd.; Andre P. Beauchamp, Humphrey Gilbert, Bache & Co.; A. E. Oliver, Wood, Gundy r Graham, President, Toronto Stock Exchange Geoffrion, Robert & Gelinas, Inc. (Montreal) & Company Limited Haig Sims, J. H. Crang & Co.; Michel David, Credit Interprovincial, Inc. (Montreal); Luc D,u Sault, Hap Seagram, Bank of Nova Scotia; Gerry Auchincloss, Annett & Company Limited; Jim Credit Interprovincial Inc. (Montreal); David Bryson, J. H. Crang & Co. Beingessner, Bank of Nova Scotia; J. B. Medlock, Annett & Company Limited Russ Hutchison, R. A. Hutchison & Co., Saul Leese, Bache & Co.; L. F. Gower, Midland Securities Corph. Limited; J. T. Baxter, Bank Jim Wilson, A. E. Ames & Co. Limited; Mickey McBride, Ev Overgard, Bache & Co. of Canada; H. B. Tindale, Hanson, Richardson & Co. Ltd. Midland Securities Corpn. Ltd. Fred Goddard, Bank of Nova Scotia; George Mulligan, Nesbitt, Thomson and Company Limited; Gene Mark, Walwyn, Stodgell A Co. Limited; Dave Gene St. Mott, Graham Armstrong Securities Ltd. Marie, Midland Securities Corpn. Limited; J. F. McLaughlin, Wood, Gundy A Co, Ltd, (Montreal); Lloyd Garrett, La Maison Bienvenue Ltee (Montreal); Patrick Shannon, Annett A Company Limited Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis