Lapas attēli
PDF
ePub
[blocks in formation]

1

· Figures may not add due to rounding.

* In addition Class B stock, all owned by Ford family interests, has voting rights and accounts for 40 percent of all voting stock! The common stock reported in this table accounts for 60 percent of all voting stock.

Nominee for the company's savings and stock investment plan for salaried employees.

* Treasury shares; cannot be voted.

54,815,394 of these shares are held by this nominee for account of the Trustees of General Electric Savings and Security Trust.

• Trustee for Chrysler under agreement dated May 18, 1956.
* Included individually as well as a trustee.
• Nominee for Litton's Pension Plan,

Treasury shares which are not voted.
10 Nominee for Bendix's Salaried Employees' Savings and Stock
Ownership Plan.

11 Nominee for the Textron Employee Stock Savings Program.

13 Affiliated Fund (Lord Abbett & Co.) 300,000 shares. Abacus Fund 44,000 shares.

Guardian Mutual (Cedar Street Consultants, Inc.) 8,000 shares. Other accounts 169,000 shares.

" Group Securities (U.S. Life Mutual Funds Management) 128,000 shares.

18 Decatur Income Fund Inc. (Delaware Management Co., Inc.) 85,000 shares.

16 Mutual Income Fund (Heritage Securities, Inc.) 30,000 shares. Other accounts 702,000 shares.

17 Hamilton Fund, 217,000 shares. Founders Mutual, 88,000 shares.

1 Penn Square Mutual Fund, 135,000 shares. Other accounts, 4,000 shares.

Percent

Ford Motor Company

accounted for 21.0 percent of its outstanding shares. Only This is the third largest industrial firm in the United

two holders, both New York banks, accounted for over 2 States, ranked by sales, exceeded only by General Motors percent each:

Percent and Standard Oil of New Jersey. It is the largest such firm

Chase Manhattan...

3. 6 to report its 30 largest holders of common stock. These 30

(through two nominees) accounted for 35.7 percent of its common stock. It does in- Morgan Guaranty..

2.7 clude 443,789 treasury shares or 0.6 percent of the total which is nonvoting. By far the largest holding, accounting nominee for the account of the Trustees of General Electric

Almost all of this latter holding is held by the bank's for 12.2 percent of total common stock of the company is held by a nominee of the National Bank of Detroit, on Savings and Security Trust. Seven New York banks behalf of the company's savings and stock investment combined held 12.8 percent of the stock of the company. plan for salaried employees. There are three other holdings Chrysler Corporation of 2 or more percent of Ford's common stock:

This is the seventh largest industrial company, ranked Chase Manhattan..

3. 5 by sales, and third largest company in the automobile (through two pominees) First National City...

2.9

field. The 30 largest stockholders accounted for 41.2 per(through three nominees)

cent of the outstanding shares of the company. Five State Street of Boston.

2. 2

holders held 2 or more percent of the stock of the company. (through three nominees)

In rank order they were: Six New York banks combined held a total of 11.2 percent of the company's common stock.

Cede and Company.

12, 1

(the nominee of the New York Stock Exchange) General Electric Company

National Bank of Detroit.

9. 9

(acting as trustee for Chrysler under a 1956 agreeGeneral Electric ranks next to Ford in size of industrial

ment) companies, ranked by sales. Its top 30 stockholders Chase Manhattan..

4. 0

(through three nominees) * In its response, the Ford Company did not indicate that Class Merrill Lynch, Pierce, Fenner & Smith Inc.

2. 2 B stock, all of which is owned by Ford family interests, is also voting

State Street of Boston..

2. 0 stock and has 40 percent of the voting power in the company. The

(through two nominees) common stock, reported by the company, has 60 percent of the

Six New York banks combined held 8.2 percent of the voting power of the company. Class A stock, held by the Ford foundation, is nonvoting stock.

outstanding stock of the company.

Peroent

29-553 O - 74 - 5

Percent

Percent

Westinghouse Electric Corporation

individuals, a private partnership and a foundation, but

did give the amount of shares each held. The 30 top stockThe 30 largest stockholders of Westinghouse held 23.1 percent of its outstanding common stock. Only two

holders accounted for 45.5 percent of the stock, a higher holders accounted for more than 2 percent of such stock,

percentage than for most industrial firms. Six holders ac

counted for 2 or more percent of the common stock of the both of them New York banks:

company. In order of amount they are: Percent

Percent Morgan Guaranty.

5. O

Chase Manhattan.. (through six nominees)

9. O Chase Manhattan.

2. 1
(through four nominees)

8.4 (through two nominees)

Cede and Company.

(the nominee of the New York Stock Exchange) Six New York banks combined held 10.8 percent of the

Credit Suisse..

4.1

3. 6 company's common stock.

Societe de Banque Suisse.
One individual.

3. 0

2.8

First National Bank of Chicago.. RCA Corporation

(through three nominees) The 30 largest stockholders of RCA, a major electronics Four New York banks combined held 11.9 percent of the manufacturer and broadcasting company through its company's shares, Chase Manhattan, as already noted, itsubsidiary, the National Broadcasting Company, held self holding 9.0 percent. Three Swiss banks combined held

. 24.0 percent of its outstanding common stock, similar 9.3 percent. Combined with a German bank, the four to that of Westinghouse. Three holders accounted for foreign banks held 10.8 percent. more than 2 percent of the stock:

Caterpillar Tractor Company Chase Manhattan..

4. 2 (through 3 nominees)

The top 30 stockholders accounted for 30.0 percent of Merrill Lynch, Pierce, Fenner & Smith Inc.

3. 2 the outstanding stock of the company. Four of them had First National Bank of Chicago--

2.0

2 percent or more of the stock each, three of them New (through 3 nominees)

York banks and one a Chicago bank. Ranked in order Five New York banks combined accounted for 7.2 they were: percent of the company's outstanding common stock.

First National Bank of Chicago--

5. 2 Union Carbide Corporation

(through 2 nominees)
First National City Bank of New York.

5. O The top 30 stockholders held a total of 26.7 percent of (through four nominees)

2. 2 the outstanding common stock of the company, again

Manufacturers Hanover.
Morgan Guaranty.

2. 1 similar to Westinghouse and RCA. In this case however,

(through four nominees) five holders accounted for 2 percent or more of the stock, three of them being New York banks. In order the five

Six New York banks combined held a total of 13.2 percent of the company's outstanding common stock.

Monsanto Company Chase Manhattan.

5. 2 (through 3 nominees)

The 30 largest stockholders of Monsanto accounted for Manufacturers Hanover.

3. 3 31.9 percent of its outstanding common stock. Five stockCede and Company

3. 2 holders accounted for 2 or more percent of the stock, all (the nominee of the New York Stock Exchange) Bankers Trust..

2.4

but one a bank, ranked as follows:
(through 3 nominees)
Merrill Lynch, Pierce, Fenner & Smith Inc.-.-..

2.0
Chase Manhattan.,

7. 4 Six New York banks combined held 12.9 percent of the

(through four nominees)
First National Bank of Boston.

4. 7 company's common stock, the three highest combined

(through six nominees) 10.9 percent.

Cede and Company.

3. 1

(the nominee of the New York Stock Exchange) Kraftco Corporation

National Bank of Detroit.

2. 7 Morgan Guaranty.-

2. 4 Like Union Carbide, the top 30 stockholders held

(through two nominees) total of 26.7 percent of the company's outstanding com- Five New York banks combined held 12.4 percent, the mon stock. It should be noted, however, that Kraftco top two combined, as seen above, accounting for 9.8 did not report nominees separately but presumably if

percent. more than one nominee of a bank or other institution was involved, consolidated them. Only two holders accounted

Dow Chemical Company for 2 or more percent of Kraftco's outstanding common The top 30 stockholders of Dow Chemical accounted stock:

for 26.1 percent of the outstanding common stock of the

company. Four holders held 2 or more percent of the First National City Bank.

2.4

stock as follows: Cede and Company

2. 1 (the nominee of the New York Stock Exchange)

First National Bank of Boston..

2. 2 Seven New York banks combined accounted for 7.3

(through three nominees) percent of the company's outstanding common stock.

Herbert Grace Foundation.

2. 2 Bankers Trust...

2. 1 Litton Industries

(through two nominees) Chase Manhattan..

2.0 In reporting its 30 top stockholders, it included, as the

(through two nominees) 30th holder, its treasury shares which amounted to 0.4 Six New York banks combined held 7.1 percent of the percent of the stock outstanding. It also did not name six outstanding common stock of the company.

are:

Percent

Percent

[ocr errors]

a

Percent

Peroent Percent

Percent

Percent

United Aircraft Corporation

Bendix Corporation The top 30 stockholders of United Aircraft accounted The 30 largest stockholders owned 37.4 percent of the for 44.7 percent of the outstanding common stock of the common stock outstanding of the company. Of these,

five accounted for 2 or more percent of the stock, the company, a higher percentage than prevails for most

largest and third largest being New York banks. The industrial companies. Eight holders had 2 or more percent five in order were: of the stock each, four of them being New York banks. In rank order these eight holders are:

First National City Bank..

10.9 (through two nominees; one nominee accounted for

most of this, 9.8 percent of the total outstanding, which Morgan Guaranty-..

7. 0

represented stock held for Bendix's Salaried Employ(through four nominees)

ees' Savings and Stock Ownership Plan) State Street of Boston. 5. O Cede and Company.

4. 9 (through four nominees)

(the nominee of the New York Stock Exchange) Cede and Company,

4. 6
Bankers Trust..

4. 9 (the nominee of the New York Stock Exchange)

(through three nominees) National Shawmut of Boston. 4. 1 Continental Illinois Bank of Chicago..

2. 2 (through two nominees)

(through three nominees) Chase Manhattan..

4. O
Brown Brothers, Harriman...

2. 1 (through two nominees)

Six New York banks combined held 18.0 percent of Bank of New York.

4. O (through two nominees)

the stock. Bankers Trust

3. 1 Wilmington Trust of Wilmington, Delaware...

2. 5 Textron Eight New York banks combined held 20.1 percent of The 30 largest stockholders of Textron owned 39.1 the stock of the company.

percent of its outstanding common stock. Five held 2 or

more percent of the stock. In order they were: Xeror Corporation The 30 largest stockholders combined held 31.9 percent Industrial National Bank of Rhode Island,

12. 2

(through two nominees, one of whicb, accounting for of the voting stock of Xerox. The six holders of 2 percent

11.3 percent of the total stock, was the nominee of or more of the stock comprise five New York banks and the Textron Employee Stock Savings Program)

Cede and Company

4. 7 Cede and Company, the nominee of the New York Stock

(the nominee of the New York Stock Exchange) Exchange, in the following order:

First National City Bank.

4. 1 (through three nominees) Rhode Island Hospital National Bank...

2.6 First National City..

6. 1

(through three nominees) (through four nominees)

Bank of New York...

2. 2 Cede and Company

4. 3 (the nominee of the New York Stock Exchange)

Only two New York banks were represented among the Morgan Guaranty.--

3. 9 top 30 stockholders, both noted above. Between them they (through four nominees)

accounted for 6.3 percent of the common stock of the U.S. Trust Company

2. 6 (through two nominees)

company. Chase Manhattan..

2. 5

CPC International (through two nominees) Bankers Trust...

2. 5

The 30 largest holders accounted for 23.2 percent of the (through three nominees)

common stock of this company. Only one holder held as Seven New York banks combined held 19.8 percent of

much as 2 percent of the stock, National Bank of Detroit Xerox voting stock, with the five mentioned above with 3.1 percent. Eight New York banks combined held a accounting for 17.6 percent.

total of 6.6 percent. R. J. Reynolds Industries

Warner-Lambert Company The 30 largest stockholders combined accounted for

The 30 largest stockholders accounted for 28.3 percent

of the common stock outstanding of this company. 27.6 percent of the common stock of the company. In

The five holders with 2 or more percent of the stock were this case New York banks played a less prominent part all New York banks plus Cede and Company, the nomithan in many of the other industrial companies considered nee of the New York Stock Exchange. In rank order they in this section. Only three holders had 2 or more percent

Percent of the stock of the company, as follows:

Chase Manhattan.

4. 7

(through three nominees) Wachovia Bank and Trust Company of Winston-Salem. 7. 5 Bankers Trust..

2. 8 (through two nominees, two trust agreements and

(through three nominees) the R. J. Reynolds Tobacco Company Employee

Cede and Company.

2. 4 Stock Purchase Plan)

(the nominee of the New York Stock Exchange) Mercantile Safe of Baltimore

3. O
Manufacturers Hanover.

2. 2 Chase Manhattan.. 2. 8 U.S. Trust Company

2. 2 (through three nominees)

Six New York banks combined held a total of 14.3 Seven New York banks combined held 7.1 percent of percent of the stock of the company, over half of the total the total common stock of the company.

held by the 30 largest.

Percent

were:

Percent

[blocks in formation]

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.

[blocks in formation]

Manufacturers Hanover...

210, 120 193, 200 112, 619 360, 336

}

Morgan Guaranty-.

(Carson & Co...
Reing & Co..
TEGGE & Co...
Lerche & Co..

2. 5

515, 939

360, 336

1. 7

Bank of New York...
U.S. Trust Company --

Subtotal-New York Big Seven..

4, 574, 938

4, 574, 938

21. 9

Footnotes at end of table

« iepriekšējāTurpināt »