Raytheon Company The 30 largest stockholders accounted for 42.6 percent of the outstanding common stock of the company. There were eight holders with 2 or more percent of the stock, ranked as follows: Percent Prudential Insurance. 40 (through two nominees) State Street of Boston. 3. 7 (through two nominees) Howard Hall estate.. 2. 9 Equitable Life 2. 2 Chase Manhattan. 2. O (through 2 nominees) Three New York banks combined held 7.8 percent of the common stock outstanding of this company. Percent 5. 5 Cede and Company, (the nominee of the New York Stock Exchange) First National of Boston. 4.7 (through four nominees) Bank of New York.... 4. 2 Chapter V TRANSPORTATION COMPANIES Of the 50 transportation companies to whom Senator request for the 50 largest stockholders was received from Metcalf's letter of May 8, 1972, was addressed, 17 were nine, just over half. airlines, 19 railroads, and the remaining 14 a variety of of the other eight, three (Continental Airlines, Alother transportation companies, including trucking firms, legheny Airlines, and Flying Tiger) did not respond at maritime companies, freight forwarders, and transit all. Three (Trans World Airlines, Eastern, and Delta) companies. This threefold division will be followed below. submitted only the names of those holding. 5 or more of all the major categories of firms contacted (industrial, percent of the capital stock, which is information required retail, banking, insurance, transportation, and utilities), to be submitted to the Civil Aeronautics Board under the response was most complete from the transportation section 407(b) of the Federal Aviation Act. One, National sector. Twenty-six companies (9 airlines, 15 railroads and Airlines, refused to list any stockholders. One, Northeast 2 other transportation companies) responded completely Airlines, reported that 86.1 percent of its stock is owned to the list of 30 top stockholders. Eleven (three airlines, by Storer Broadcasting Company. Since then Northeast two railroads, and six other transportation companies) Airlines has been merged into Delta Air Lines. provided some stockholder data but not to the extent A summary of the holders of airline stock shows that requested. Four companies were subsidiary firms. Nine the 30 largest stockholders in most cases accounted for companies (four airlines, one railroad, and four other about 50 percent of the holdings and that New York transportation companies) failed to respond or gave an banks are prominent in the stockholdings of six of the entirely negative reply. nine companies included in the committee tabulation. These indications of concentration are generally substanA. AIRLINES tially greater than for industrial companies. The following tabulations and summaries of individual As already noted, of the 17 airlines among the 50 airlines are arranged by size of company according to largest transportation companies, a full response to the operating revenues in 1971. UAL-Continued (Don & Co. TARR & Co.... Cal & Co. Chetco. SPeak & Co. \Bark & Co. Firjor & Co.--- Trude & Co. Finat & Co. Dean & Davis. (Hirs & HarneyOther banks: Lincoln Rochester Trust Co. (Rochester, Peplin & Co.-- N.Y.) Bansco & Co.--. Mutual Life.. John Hancock Mutual Life Insurance.... Atlantic & Co.- (Boston) Brokers: Merrill Lynch, Pierce, Fenner & Smith Inc. Boston banks: Pratt & Co... Chetco... Peak & Co... Touchstone & Co. PERC & Co.----- Commercial Bank of Kansas City. Don & Co. Firestone Bank (Akron, Ohio).--. Main Miller & Co.- Credit Suisse (Swiss American Corp.).... Rush & Co.--- Gunther & Co.. SGepoo... Oneco.... Connecticut General Life Insurance. .. Congen One & Co...---... SParen & Co.--- Cas & Co... Inc. Miscellaneous: Resorts International, Inc..... 1, 200, 000 8, 306, 033 Subtotal. 8, 306, 033 20.6 Footnotes at end of table. Subtotal-New York Big Seven.. Bishop & Co.. Chetco. Peak & Co. Var & Co. PERC & Co.-- Firjer & Co.----- Trude & Co.--- (Finat & Co.. (EMP & Co... Dean & Davis..-- Trussal & Co.... Tef & Cound Pennod & Co.. John Hancock Insurance (Boston)------- Atlantic & Co.... Inc. } 304, 529 2. 2 1,4 111, 600 417, 100 766, 000 3.6 |