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Percent

Mobil Oil Corporation

Percent Cede and Company--

7.0 In reporting its top 30 stockholders, Mobil Oil Corp. (the nominee of the New York Stock Exchange)

Continental Illinois of Chicago..

3.0 included itself, with 1.4 percent of the shares of common

(whose nominee is trustee of the Ashland Oil Thrift stock outstanding. Presumably it does not vote these

Plan) shares it holds itself. All together the top 30 stockholders Morgan Guaranty--

2. 1 accounted for 29.0 percent of the shares outstanding. Four New York banks combined held only 3.0 percent. Only four holders held, through nominees, as much as 2 percent each of the stock of the company, three being

B. OTHER INDUSTRIAL COMPANIES New York banks. In order of size they were:

Percent We come now to the largest single group in this report, Bankers Trust...

6. 1

the 81 industrial companies that are not oil companies. (through three nominees) Chase Manhattan..

5. 2

Of these 81, complete responses were received from 21, or (through two nominees)

26 percent. However, two of them requested that their Morgan Guaranty...

2.9 responses be considered confidential with respect to (through four nominees)

individual stockholders. Therefore there is a full tabulation Cede and Company,

2. 3 (the nominee of the New York Stock Exchange)

for each of 19 companies, with the other two being in

cluded in the text on partial responses. There were 14 such Seven New York banks combined accounted for 17.4 partial or incomplete responses. A full 30 companies repercent of the outstanding common stock.

fused to divulge information on stockholdings on grounds Atlantic Richfield Oil Company

of confidentiality. Fifteen failed to respond to Senator

Metcalf's letter of inquiry; however none of the top 22 The top 30 stockholders accounted for 26.3 percent of companies of the 81 companies falls within the group the common stock outstanding of the company. Only four failing to respond, One company, Western Electric, is a holders held as much as 2 percent of the stock of the wholly owned subsidiary of American Telephone and company. They were:

Telegraph Company, and is therefore excluded.

PARTIAL RESPONSES Chase Manhattan Bank..

4. 5 (through four nominees)

We start with the two industrial companies that furFirst National City Bank.

2. 7

nished the information requested on the understanding (through two nominees) Cities Service Company

2. 5 that confidentiality of individual holdings be maintained. Cede and Company

2. 3 Therefore information on the two following companies is (the nominee of the New York Stock Exchange)

consolidated so that individual accounts are not disclosed. It should be noted that the Cities Service Company The Greyhound Corporation, a major conglomerate in holdings represent stock received in exchange for holdings transportation and manufacturing, had 19.5 percent of its of Richfield Oil Corporation at the time of the merger of stock held by the top 30 holders as follows: Atlantic Refining Company and the Richfield Oil Corpora

8. 1 tion. Cities Service was under a court order to dispose of

Cede and Company.

(the nominee of the New York Stock Exchange) these holdings by January 3, 1973. Eight New York banks

Four New York banks..

2. 4 accounted for a total of 11.7 percent of the common stock Six other United States banks..

4. 5 of the company.

Two foreign banks.

. 3 Six brokers..

2. 7 Continental Oil Company

Two individuals..
Three miscellaneous companies.-

1.0 The top 30 stockholders accounted for 30.8 percent of United Brands Corporation reported that 69.5 percent the voting stock of the company. Four holders held two of its capital stock was held by the top 30 holders as or more percent of the stock each. Ranked by size of follows: holdings they were:

Cede and Company

20. 5 Bankers Trust. 5. 8 Chase Manhattan Bank.

8. 0 (through two nominees one of which held 4.3 percent

(through two nominees) of the total shares for the account of Newmont Mining

Five other New York banks

2. 7 Corporation).

Two Boston banks..

16. 3 Cede and Company 4. 4 Two Chicago banks...

3. 3 (the nominee of the New York Stock Exchange)

Seven other United States banks.

8.8 Texas Commerce Bank N.A.-3. 3 Two foreign banks...

1. 2 (with its nominee as trustee of the company's Thrift

Merrill Lynch, Pierce, Fenner & Smith Inc.

2. 5 Plan)

Three other brokers.. Morgan Guaranty

2. 2

Three funds, individuals, and miscellaneous firms.. 4. 6 (through three nominees) Nine New York banks combined held 13.3 percent.

An indication of the kind of information provided by the

14 companies which gave only limited data provided is Ashland Oil, Inc.

shown in the following summaries.

United States Steel Corporation indicated that its Ashland Oil, in its response, listed the 14 largest ac- largest stockholder account was held by a nominee for the counts which were in the names of nominees or other Trustee of the Corporation's Savings Fund Plan for intermediary accounts. Of the 16 other accounts, it was Salaried Employees, with 10.2 percent of total shares. simply indicated that they were held by individuals, who Further no individual was reported to hold as much as 2 remain unnamed. The 30 largest stockholders account for percent of the common stock of the company. No informa22.6 percent of the voting shares of the company. Only tion on the amount held by nominees of banks and other three held more than 2 percent of the stock each. They institutions, or by other institutional investors or funds were:

was disclosed.

Percent

Percent

Percent

1.6

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New York banks:

Bankers Trust.
Chase Manhattan.

Cudd & Co..
First National City.
Manufacturers Hanover.
Morgan Guaranty.

Douglass & Co.
Bank of New York..
U.S. Trust Company..

Atwell & Co.---
Total-New York Big Seven..
Chemical Bank.

Kennedy & Co.
Boston banks:
National Shawmut.

Edal & Co.----
Chicago banks:

Continental Illinois National.......... Trude & Co. S..
Cleveland banks:

Central National Bank of Cleveland.---- Parness & Co.--
Other banks:
First National (Denver).

Hamil Fund &

Co.
First Security National Bank & Trust Tuyl & Co. ---

(Lexington, Ky.).
Citizens Fidelity Bank & Trust (Louis- Cittrest & Co.--

ville, Ky.).
Third National Bank & Trust (Dayton, Lemco...

Ohio).
Brokers:

Merrill Lynch, Pierce, Fenner & Smith Inc
Funds:

Board of Trustees of the Retirement Sys

tem of the City of Cincinnati.

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Individuals..

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Percent

6.1

Percent

Mobil Oil Corporation

Percent Cede and Company..

7.0 In reporting its top 30 stockholders, Mobil Oil Corp. (the nominee of the New York Stock Exchange)

3. O included itself, with i.4 percent of the shares of common

Continental Illinois of Chicago.

(whose nominee is trustee of the Ashland Oil Thrift stock outstanding. Presumably it does not vote these

Plan) shares it holds itself. All together the top 30 stockholders Morgan Guaranty---

2.1 accounted for 29.0 percent of the shares outstanding. Four New York banks combined held only 3.0 percent. Only four holders held, through nominees, as much as 2 percent each of the stock of the company, three being

B. OTHER INDUSTRIAL COMPANIES New York banks. In order of size they were:

We come now to the largest single group in this report, Bankers Trust..

the 81 industrial companies that are not oil companies. (through three nominees) Chase Manhattan.

5. 2

Of these 81, complete responses were received from 21, or (through two nominees)

26 percent. However, two of them requested that their Morgan Guaranty...

2.9 responses be considered confidential with respect to (through four nominees)

individual stockholders. Therefore there is a full tabulation Cede and Company.

2.3 (the nominee of the New York Stock Exchange)

for each of 19 companies, with the other two being inSeven New York banks combined accounted for 17.4 partial or incomplete responses. A full 30 companies re

cluded in the text on partial responses. There were 14 such percent of the outstanding common stock.

fused to divulge information on stockholdings on grounds Atlantic Richfield Oil Company

of confidentiality. Fifteen failed to respond to Senator

Metcalf's letter of inquiry; however none of the top 22 The top 30 stockholders accounted for 26.3 percent of companies of the 81 companies falls within the group the common stock outstanding of the company. Only four failing to respond. One company, Western Electric, is a holders held as much as 2 percent of the stock of the wholly owned subsidiary of American Telephone and company. They were:

Telegraph Company, and is therefore excluded.

PARTIAL RESPONSES Chase Manhattan Bank

4. 5 (through four nominees)

We start with the two industrial companies that furFirst National City Bank.

2. 7

nished the information requested on the understanding (through two nominees) Cities Service Company

2. 5 that confidentiality of individual holdings be maintained. Cede and Company

2. 3 Therefore information on the two following companies is (the nominee of the New York Stock Exchange)

consolidated so that individual accounts are not disclosed. It should be noted that the Cities Service Company The Greyhound Corporation, a major conglomerate in holdings represent stock received in exchange for holdings transportation and manufacturing, had 19.5 percent of its of Richfield Oil Corporation at the time of the merger of stock held by the top 30 holders as follows: Atlantic Refining Company and the Richfield Oil Corporation. Cities Service was under a court order to dispose of

Cede and Company.

8.1

(the nominee of the New York Stock Exchange) these holdings by January 3, 1973. Eight New York banks

Four New York banks..

2. 4 accounted for a total of 11.7 percent of the common stock Six other United States banks.

4. 5 of the company.

Two foreign banks.

. 3 Six brokers

2. 7 Continental Oil Company

Two individuals.-
Three miscellaneous companies.

1. 0 The top 30 stockholders accounted for 30.8 percent of United Brands Corporation reported that 69.5 percent the voting stock of the company. Four holders held two of its capital stock was held by the top 30 holders as or more percent of the stock each. Ranked by size of follows: holdings they were:

Cede and Company

20. 5 Bankers Trust. 5.8 Chase Manhattan Bank.

8.0 (through two nominees one of which held 4.3 percent

(through two nominees) of the total shares for the account of Newmont Mining

Five other New York banks.

2. 7 Corporation).

Two Boston banks...

16. 3 Cede and Company.

4. 4
Two Chicago banks..

3. 3 (the nominee of the New York Stock Exchange)

Seven other United States banks.

8.8 Texas Commerce Bank N.A.. 3. 3 Two foreign banks..

1. 2 (with its nominee as trustee of the company's Thrift

Merrill Lynch, Pierce, Fenner & Smith Inc.

2. 5 Plan)

Three other brokers.. Morgan Guaranty-

2. 2 Three funds, individuals, and miscellaneous firms... 4. 6 (through three nominees) Nine New York banks combined held 13.3 percent.

An indication of the kind of information provided by the

14 companies which gave only limited data provided is Ashland Oil, Inc.

shown in the following summaries.

United States Steel Corporation indicated that its Ashland Oil, in its response, listed the 14 largest ac- largest stockholder account was held by a nominee for the counts which were in the names of nominees or other Trustee of the Corporation's Savings Fund Plan for intermediary accounts. Of the 16 other accounts, it was Salaried Employees, with 10.2 percent of total shares. simply indicated that they were held by individuals, who Further no individual was reported to hold as much as 2 remain unnamed. The 30 largest stockholders account for percent of the common stock of the company. No informa22.6 percent of the voting shares of the company. Only tion on the amount held by nominees of banks and other three held more than 2 percent of the stock each. They institutions, or by other institutional investors or funds were:

was disclosed.

Percent

5

Percent

Percent

1. 6 14. 8

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Percent

Percent Ling-Temco-Vought reported that the only holder of more than 10 percent of the outstanding shares of common

McDonnell Douglas Employee Savings Plan
James S. McDonnell.

6. 7 stock was Cede and Company, the nominee of the New

New York Stock Exchange's Share Depository (Cede & York Stock Exchange, with 39 percent of such stock.

Co.)

5.4 Boeing Company reported that the 30 largest stock- James S. McDonnell III.

4. 5

4.1 holders are comprised of four brokers, 25 nominees and one

McDonnell Foundation, Inc.
John F. McDonnell.

4.0 individual who among them hold 28.0 percent of the com- 22 nominee names.

16. 6 pany's outstanding shares. No names of stockholders were 2 other individuals.

1. O disclosed.

Burlington Industries reported that the largest stockE. I. Du Pont de Nemours & Company reported that

holder of the company was the Profit Sharing Plan of Christiana Securities Company holds about 28.2 percent of

the Company, held by the Wachovia Bank and Trust its shares and that the remaining 29 top stockholders are

Company as trustee, with 10.3 percent of the outstanding institutions and nominees, most of whom hold shares in a

stock. The company reported further: "With the exception fiduciary capacity.

of a few individual stockholders, none of whom hold more Swift and Company indicated that the 30 largest stock

than one-half of 1 percent of the outstanding stock, the holders accounted for 39.0 percent of common shares outstanding. This total can be broken down into 32.5 percent the top 30 are nominees, brokers or others who generally

next largest stockholders of record of the company among in 22 nominee or broker accounts and 6.5 percent in the

are not beneficial owners of the securities held in their remaining eight presumably individual or other beneficial

accounts." accounts.

Sperry Rand Corporation reported that its largest Bethlehem Steel Company disclosed the name of its top shareholder is Cede and Company, nominee of the New holder only, but did indicate the amount held by each of

York Stock Exchange. The next largest account has the top 30 holders, with each holder indicated by type.

about 3 percent of the shares outstanding, and the smallest This information is summarized as follows:

of the 30 has 0.5 percent of the corporation's total

outstanding shares. Besides Cede and Company, the 30 30 largest stockholders.

24. 3

largest consist of 20 nominees of banks, two investment Cede and Company the nominee for New York Stock firms, one insurance company, three nominees of inExchange..

7. 2 surance companies, two foreign banks and one other 16 nominees for mutual funds.

1 11.3

foreign institution. 6 bank fiduciary accounts and nominees for bank fidu

Consolidated Foods Corporation reported only that the ciary accounts

2. 6 1 broker..

30 largest stockholders of common stock consisted of 17 2 custodians for foreign holders.

nominees, two retirement funds, one publicly-held corpora1 foreign issuer of bearer deposit receipts.

tion, one major broker-dealer, two private foundations, 1 testamentary trustee.. 1 State Teachers Pension Fund.

and seven individuals. These 30 held about 31 percent of 1 individual.----

2 the common stock outstanding of the company. 1 Includes one nominee for a mutual fund accounting for 2.5

American Standard indicated the number of shares held percent of common stock outstanding.

by each of the top 30 holders but did not identify the

holders beyond classifying them into two insurance comEastman Kodak Company indicated only that the 30 panies, nine banks, seven brokerage firms, seven individlargest holders of its shares are registered in street names" uals, and five as miscellaneous. The 30 combined held 33.7 and the names of banks and nominees. The largest of these percent of the shares outstanding, led by an insurance 30 holders represented 1.1 percent of the total outstanding company with 4.5 percent, second by a bank, with 3.6 voting shares of the company.

percent, and third by a bank, with 3.1 percent. AltoNorth American Rockwell reported that the 30 largest gether the two insurance companies accounted for 4.8 holders accounted for about 26.2 percent of the corpora- percent of shares outstanding, the nine banks for 11.8 tion's total outstanding shares of common stock, headed percent, the seven brokerage firms for 6.9 percent, the by the nominee of the corporation's savings plan for em- seven individuals for 5.3 percent, and miscellaneous for ployees and Cede and Company, the nominee for the 4.8 percent. New York Stock Exchange.

Singer Company listed without any identification the number of shares held by each of the 30 largest sharehold of common stock of the company which total

The following are the 30 companies which declined to account for 33.6 percent of the total stock of the company,

provide the information requested on grounds of confidenThese 30 holders are reported to "include Cede and

tiality. In some cases, where leading companies in the same Company, the New York Stock Exchange Stock Clearing Cated by way of contrast.

or related industries provided full information this is indiCorporation, an insurance company, a retirement trust fund for governmental employees, an investment com- General Motors Corporation, although both Ford and pany, one individual and 25 street name or nominee firms

Chrysler reported fully: which we believe hold stock in our company on behalf of International Business Machines Corporation, almany beneficial owners of the shares."

though RCA reported fully. McDonnell Douglas Corporation provided information International Telephone and Telegraph Corporation, showing that the 30 largest stockholders accounted for although General Telephone and Electronics re57.1 percent of the total shares of ommon stock out

ported fully. standing, with a breakdown from which the percentages Goodyear Tire and Rubber Company. could be calculated as follows:

Procter and Gamble.

1.4

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CLAIM OF CONFIDENTIALITY

Lockheed Aircraft Corporation, although United Air

FAILURE TO RESPOND craft reported fully. Tenneco, Inc.

The 15 companies from whom no reply to Senator Firestone Tire and Rubber Company.

Metcalf's letter of inquiry was received were the following: Honeywell, Inc.

International Harvester. W. R. Grace and Company.

General Dynamics. International Paper Company.

General Foods. Borden, Inc., although United Brands reported fully.

Continental Can. Boise Cascade Corporation.

American Can. Minnesota Mining and Manufacturing Company.

Rapid-American. Coca Cola Bottling Company of New York.

Gulf and Western Industries. TRW.

Beatrice Foods. Armco Steel Corporation.

Aluminum Company of America. Ralston Purina Company.

American Brands. Uniroyal.

National Cash Register. Owens-Illinois.

U.S. Industries, Inc. Republic Steel Corporation.

Colgate-Palmolive. U.S. Plywood-Champion Papers, Inc.?

Georgia Pacific Corporation. MC Corporation.

Whirlpool Corporation. American Home Products Corporation.

The 21 industrial companies (excluding oil companies) Genesco.

that provided information on their 30 top stockholders Allied Chemical Corporation.

appear to be fairly representative of the 99 to whom inNational Steel Corporation.

quiries were addressed. They include some of the very Weyerhaeuser Company.

largest, some of the smallest of these, and cover a wide Teledyne, Inc.

spectrum of industries. Some major industries, such as B. F. Goodrich Company.

rubber, are not represented. A brief discussion of the highlights from each of the 19 tables compiled from fully

reporting companies follows, with the companies ranked 1 Letter was sent in error to this company instead of to Coca Cola in order of size of sales in 1971. Two companies, which Company, Atlanta, Georgia.

requested that the information they supplied be kept conNow Champion International Corporation; company did indicate that Theodore J. Munchak, Nathan 1. Lipson, and Ýwight'): fidential, are not included here but have been discussed Thomson are large stockholders, based on filings with the Securities

above under partially reporting companies. Tabulation and Exchange Commission; no specific shareholdings data given. on these 19 companies follow:

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