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The COMMERCIAL and FINANCIALEstablished1839Reg. U. S. Pat. Off.THEVolume197LEADINGANDNumber 6256Digitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. LouisMOSTINFORMATIVENew York 7,31STEDWARDCHAIRMANINTHEN. Y., Thursday, April 18, DPrice 50 CentsaCopy1839In 2 Sections —Section ERAPRIL NVICE-CHAIRMANM. A. BrownA. E. St. MarieJ. M. D. De La CourD. M. CarnellA. E. OliverHarold S. BackusEdward M. SaundersGairdner & Company,LimitedMidland SecuritiesCorpn. LimitedOsier, Hammond &GreenshieldsIncorporatedWood, Gundy &Company LimitedMcLeod, Young, Weir& Company LimitedSaunders CameronNanton Ltd.Peter D. FerrissThomas J. OrmesherBartlett, Cayley &Company, LimitedA. E. Ames & Co.,LimitedWilliam G.JonesR. J. LawrenceThe Bank ofBurns Bros, andFry & CompanyNova ScotiaDenton LimitedLimitedM. H.SeagramPeterS.Mason &CrysdaleCrysdaleLimited (ex-officio)Ltd.

(2)Thursday, April 18, 1963Volume197EarlJoePope, Pope & Company; Bob Macintosh, Bank of Nova Scotia;Wood, Gundy & Co. Ltd.Number 6256.A Supplement to theCommercial and Financial ChronicleHagensieker, 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)Ed King,Doug Moss, J. W. A. Tedder, S. Ji Perry and G. A. Ferguson, all ofJimToronto-DominionBankBelshaw, Annett Company Limited; Bob McElwain, Canadian Imperial Bankof Commerce; H. L. Johnston, J. L. Graham& Company Ltd.McLeod,Youhg,Weir & CompanyLIMITEDMembers:The Investment Dealers' Associationof CanadaGovernment, Municipal andCorporation SecuritiesStock orders executedonallBrianSteel, Greenshields Incorporated (Montreal); JohnNewman, Greenshields Incorporated;Finlayson, Greenshields Incorporated; Peter Kilburn, GreenshieldsIncorporated (Montreal)';Peter,. Cole, Greenshields Incorporated; Ken Lucas, Annett &Company LimitedIanExchangesHead OfficeGairdner50 KING STREET WEST, y LimitedBay Street, Toronto, CanadaEdmontonNew YorkWeinAffiliate:provideCanada.acomplete service for corporate financingenquiries from dealers invited.PrivateAffiliateMcLeod, Young,WeirINCORPORATED18CHASE-MANHATTAN PLAZADigitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. Louis.Members:"The InvestmentGairdner &Dealers' Association60 Wallof CanadaNEW YORKAll Major CanadianStock ExchangesTorontoCalgaryLondonMonctonCompany Inc.Street, New ngstonKitchenerVancouverWinnipeg

Volume197Number 6256.A Supplement tothe Commercial and Financial ChronicleThursday, April 18, 1963BONDSSTOCKSMarketsmaintained in all classes of Canadianexternal and internal bond issues.,Stock orders executedStockExchanges,onAlexander, Hamilton, Ross, KnowlesJarvis, Wisener, Machellar & Company&Co., Ltd.; Cam Laidlaw,Ltd.; John Whitelaw, Bankthe Montreal and Torontonet New York markets quotedoronRobert(3)request.O'Brien & Williams; Ernieof Montreal (Toronto)Direct Private wiresCalgary,BELLtoToronto, MontreStK Ottawa, ifaxWl'0880Dominion Securities CorporationAssociate Member American Stock ExchangeBostonLondon, Eng.40EXCHANGEParis, FranceOttawaCalgaryPLACE, NEW YORK 5TorontoMontrealWinnipegTelephone WHltehall lifaxCanadianInvestment SecuritiesMikeAlbright, Royal Securities Corporation Limited; Mike Edgecombe, Fry & CompanyJohn Cluff, Kamm, Garland & Co., Ltd.; Jim Lippett, Kamm, Garland fiCo., Ltd.Ltd.;A. E. Ames & Co.LimitedV':UNDERWRITERS AND DISTRIBUTORSA. E. Ames & Co.Members Toronto and Montreal StockExchangesAffiliated offices insixteencities inCanada, England and FranceA. E. Ames & Co.IncorporatedTwoWallStreet, New York 5, N. Y.BUSINESSBruceBlandford, Canadian Imperial Bank of Commerce; Hugh Mackay, Hugh MackayHowie Masson, Royal Bank of Canada; Bill Miller, Royal Bank of Canada&1889Co. Ltd.;I"""?lffQanBurns Bros. & Denton, Inc.II 5.5GOVERNMENT OF CANADA Provincial and Municipal Bonds :Affiliated with:"Burns Bros, and Denton LimitedEToronto, Canada5 S«JJJJJE Sj1Underwriters and Dealers mmin»!DI 4-3870Two Broadway, New York 4, N. Y.5JohnESTABLISHEDDirect Private WiresToronto MontrealHamilton to: WinnipegVancouver CalgaryOttawaezAbell,Commerce;Wood, Gundy & Company Limited; O. L. Robertson, Canadian Imperial Bann otWilliam Small, Bank of Montreal (Montreal); Roy McCloskey, Royal Bank of CanadaDigitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. llllllllllllHIIIIIllllllllllllllllllllllllllHlllR

(4)Thursday, April 18, 1963Volume 197Number 6256ASupplement to the Commercial and Financial ChronicleAt Your ServiceMidland 'ASSOCIATIONThe LCANADIANSTOCKSTOCKSTOCKEXCHANGEMidland CanadianNEWYORKEXCHANGEEXCHANGECorporationGilbert Smith, Toronto Dominion Bank; BellmanMason, Mason & Crysdale Limited; Mickey McBride,Midland Securities Corpn.Limited; Claude D. Seibert, Commercial & Financial Chronicle (New York)CITYBrawley, Gathers& Co.MembersInvestment Dealers' Association of CanadaToronto StockExchange OzzCANADIANDonPatryluk, Bankers Bond Corporation Limited; Karel Stonner, Bankers BondCorporation Ltd.;Peace, Wisener, Machellar & Co. Limited; Bob Ferguson,Wisener, Mackellar & Co. LimitedGOVERNMENT-MUNICIPAL-CORPORATIONSECURITIES ''-J; *."*.CANADIANBANK OFCOMMERCEBUILDINGEMPIRE 3-5821TORONTOFrankMcDonald, Howard ansecuritiesO k IE specialize inservicing dealers1/1/ by obtainingof Canadian listedorplacing blocksover-the-counteror; securities.OurfirmTrading Department maintainsmarketsissues inTRADING DEPT.EMpire 6-5831onlistedU. S. fundsfor all types of dealerTELEX nsactions.WISENER,MACKELLAR ANDCOMPANYLIMITEDMEMBERSTHE INVESTMENTDEALERS'ASSOCIATION OF CANADAMEMBERSTHE TORONTO STOCK EXCHANGETELEPHONE 366-6996220 Bay Street, Toronto 1, CanadaDigitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. LouisRossHilborn, Fergus Mallon, Douglas Pearson, and ArthurMcLeod, Young, Weir & Co, Ltd.Brooke, allof

Volume197Number 6256.A Supplement to the Commercial andFinancial ChronicleThursday,April 18,(5),1963CANADA—Serviceonall SecuritiesWhen yourequire informationCanadianIndustrial,Miningorquotationson anyOil security,orourresearch and trading facilities are at your disposal,Monthly Investment BulletinStuartRobertson, Toronto Dominion Bank; Howard Bennett, James Richardson & Sons; Donald Strath,Richardson Sons; George Simpson, James Richardson &Sons; S. B. Phipps,Assistant General Manager, James Richardson & SonsJamesonRequestRoss, Knowres & Co. Ltd.Members:The Toronto StockExchangeand The Investment Dealers' Association105ADELAIDEHamiltonSTREET WESTBrantfordBramptonLondonof CanadaTORONTO, CANADASudburySarniaWindsorNiagara Falls, Ont.Nesbitt, Thomson and Company,LimitedJ.Lascelies,Securities Corporation Limited; Laurie Virtue, James RichardsonErwood, Harris & Partners Limited; Larry Bell, James Richardson & SonsDominionDon&Sons;355St. JamesStreet OOTTAWAPETERBOROUGHREGINACALGARYJOHNNEWCanada-Wide Bay EGVANCOUVERVICTORIA HALIFAXLONDON, ENG.Trading Services WithAffiliates in New York and London, EnglandNesbitt, Thomson and Company, Inc.25 BroadNEW YORK 4,JohnStreet,NEW YORKWhyte, Allan Bracher, Phillip Tingley, and R. R. Corson, all of McLeod, Young, Weir & Co. Ltd.CANADIAN SECURITIEScomplete facilities for Canadianstock and bondSidtradingJacobs, Sidney Jacobs Co. (New York); Murry Brown, Gairdner & CompanyLimited; Earl Hagensieker, Reinholdt& Gardner(St.Louis)James Richardson a SonsJnc.14 Wall StreetNew York 5,Investment SecuritiesN. Y.Canadian AffiliateTelephoneDIgby 9-2850James Richardson & SonsEstablished 1857yServing Investors Across CanadaR. D.Mulholland, General Manager, Bank of Montreal (Montreal); Mickey McBride,Securities Corpn. Limited;T. D. Lewis, Bank ofMidlandDigitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. LouisMontretf(Toronto)

(6)VolumeThursday, April 18, 1963197Number 6256.A Supplement to theCommercial and Financial ChronicleMembersThe Investment Dealers'AllAssociation of CanadaPrincipal CanadianStock ExchangesBellmanT.H.Mason A Crysdale, Limited; A. A. Kirk, Equitable Securities Canada Limited;Nesbitt, Thomson A Company Limited; Dave Carnell, Greenshields IncorporatedMason,G. Mulligan,40 Adelaide Street WestToronto, Ontario, CanadaCanadian Government, MunicipalandCorporation SecuritiesANDERSON &AIHorton, Bank of Montreal (Toronto); Fred Henderson, Cochran, Murray A Co., Limited;Wilson, W. C. Pitfield A Company Limited; R. H. Goold, Bank of Montreal (Toronto)T.B.COMPANYLIMITEDMembersThe Investment Dealers' AssociationDOMINIONBANKBUILDING,of CanadaTORONTOCanadian Government andCorporation SecuritiesShort Term PaperE.J. Allman, Annett A Company Limited; J. B. Mellock, Annett A Company Limited;GerryAuchincloss, Annett A Company, Limited; George Beck, Bartlett, Cayley & Company Limited4 KingStreet WestToronto Telephone 362 6121affiliate ofT. A. Richardson & Co.Members The Toronto StockExchangeWalwyn, itiesIncorporated; Jack McCullough, Charles King ACorporation Ltd.; Albert Loeffler, Coodbody A Co.Co.; Harold(New York)Irving,LimitedMembers:Toronto StockTheExchangeWinnipeg Stock ExchangeThe Investment Dealers' Associationof CanadaSTOCK ORDERS EXECUTED ON ALL EXCHANGES7 KING STREETEAST, TORONTOTelephone: 364-1131WINDSOR, WINNIPEG, HAMILTON, CORNWALL, PORT HOPEDigitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. LouisA. I.Green, D. A. Thompson, J. L. Mackay, and A. J. Langley, all of Dominion Securities Corp.Ltd.

Volume197Number 6256.ASupplement to the Commercial and Financial ChronicleThursday, April 18, 1963(7)ANNETT & COMPANY LIMITEDMember: The Investment Dealers' Association of CanadaVvV ':V '* K-'-:Y ;'-'V;T:r'";v ' '.CANADIAN GOVERNMENT AND CORPORATE SECURITIESW.Richardson, Mills, Spence & Co., Ltd.; J. F. Van Duzer; Mills, Spence & Co.,Maxwell, Dominion Securities Corporation Limited;, A. H. Williams, Fairclough220 BAY STREET. TORONTO 1. ONTARIO. TELEPHONE 362-7661Ltd.; BruceCo.; Ltd.129 STJAMES ST. W.MONTREAL 1. QUETELEPHONE VICTOR 4-4451.Affiliated withANNETTPARTNERSMember: Toronto StockHaroldJarvis,A.E.Ames ,,& Co. Limited; Alex Shaw, Bank of Nova Scotia;Ames ft Co. Limited; D. A. Beggs, Bank of Nova ScotiaD.F.McGill,A.LIMITEDExchange.E.Equitable Securities Canada- LimitedMember:of The Investment Dealers' Association of CanadaEquitable Brokers LimitedMemberof The Toronto Stock ExchangeCanadian Investment SecuritiesHead OfficePaulH.Gooderham, Gairdner & Company Limited; Ian Ferguson, Gairdner fi Company Limited;Seagram, Bank of Nova Scotia; Bruce Decambria, Gairdner ft Company Limited (Montreal)60Yonge Street, Toronto, CanadaBranches:U. S.J.G.Carnegie, McConnell ft Company Limited; "Cash" McCall, Royal Bank of Canada;James Richardson & Sons; Bill Scott, James Richardson & SonsDick.2nd/.'v.'.-v.;" "" 'KitchenerSubsidiary: Equisec Canada Inc. rr-""".h.«Tb.Toro»'gil i:INVESTMENT SECURITIES'HamiltonHarris,KERNAGHAN & CO. LIMITED.Montreal:Floor, 365 Bay St., TORONTO, EM. 4-4256IACONFINDLEYSpecialists in Special SituationsCOYNEtMIL ITHsmtnrs //iitstmsntGovernment,THOMSON KERNAGHAN & CO. LTDDealers' Association ofDCanadaMunicipal and Corporation Bonds„Members The Toronto Stock ExchangeTHOMSON KERNAGHAN INC.1ChaseManhattan PlazaHA 5-4343Digitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. LouisNew York 5181BAYSTREET,TORONTO1,CANADA

(8)VolumeThursday, April 18, 1963J.R. Kimber, Vice-Chairman, Ontario Securities Commission; BussMoorhouse, F. H. Deacon & Company Limited; Brig. General H. D.Graham, President, Toronto Stock ExchangeHaig Sims, J. H.John197Number 6256Hutchison,Crang & Co.; Michel David, Credit Interprovincial, Inc. (Montreal); Luc D,uInterprovincial Inc. (Montreal); David Bryson, J. H. Crang & Co.R. A.EvFredHutchison & Co., Saul Leese,Overgard, Bache & Co.Bache&Co.;Sault,HapDigitized for FRASERhttp://fraser.stlouisfed.org/Federal Reserve Bank of St. LouisGeneCommercial and Financial ChronicleHarold S. Backus, McLeod, Young, Weir & CompanyHumphrey Gilbert, Bache & Co.; A. E. Oliver, Wood,& Company LimitedSeagram, Bank of Nova Scotia; GerryBeingessner, Bank of Nova Scotia; J.L. F. Gower, Midland Securities Corph. Limited; J. T. Baxter, Bankof Canada; H. B. Tindale, Hanson, Richardson & Co. Ltd.Goddard, Bank of Nova Scotia; George Mulligan, Nesbitt, Thomson and CompanyLimited;St. Marie, Midland Securities Corpn. Limited; J. F.McLaughlin, Wood, Gundy A Co, Ltd,GeneA Supplement to theI. Duffy, Hanson, Richardson & Co. Ltd.; Harry B. Tindale,Hanson, Richardson & Co. Ltd.; Andre P. Beauchamp,Geoffrion, Robert & Gelinas, Inc. (Montreal)CreditRuss.Mark,JimAuchincloss, Annett & Company Limited;B. Medlock, Annett & Company LimitedWilson, A. E. Ames &Co. Limited;Midland SecuritiesMickeyCorpn. Ltd.Limited;Gundy rJimMcBride,Walwyn, Stodgell A Co. Limited; Dave Mott, Graham Armstrong Securities Ltd.Lloyd Garrett, La Maison Bienvenue Ltee (Montreal); Patrick Shannon,(Montreal);AnnettACompany Limited

TheCOMMERCIALandFINANCIAL Established 1839 Reg.U.S.Pat.Off. THE LEADING AND MOST INFORMATIVE PUBLICATION IN THE FINANCIAL FIELD ESTABLISHED 1839 Volume 197 Number 6256 NewYork7, N.Y.,Thursday,April18, 1963 Price 50 Cents a Copy In 2 Sections—Section 2 31ST ANNUAL DINNER:

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