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Table 6.-SUMMARY OF STOCKHOLDER DATA SUPPLIED BY 89 RESPONDENTS1 SUPPLYING DATA ON 30 LARGEST STOCKHOLDERS IN 1972—Continued

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1 Respondent companies are arranged by size within each industry group.

Banks are designated by the following symbols: BNY-Bank of New York; BT-Bankers Trust; CB-Chemical Bank; CM— Chase Manhattan; FN-First National City; FR-Franklin National; FT-Fiduciary Trust; IT-Irving Trust; MG-Morgan Guaranty; MH-Manufacturers Hanover; MM-Marine Midland; SB Savings Bank Trust.

Ford Motor Co. employees stock plan.
First National of Chicago.
First National of Boston.

• Mercantile Safe (Baltimore).

'Textron employee stock savings program

Kirk Kerkorian (director Western Air Lines).
RKO General, Inc.

10 Pennsylvania Company.

11 Merrill Lynch, Pierce, Fenner & Smith Inc.

12 Mississippi River Corp.

13 Chemical Bank is the exchange agent under Union Pacific

RR Co.'s exchange offer of September 1964.

14. 4

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Chapter IV

INDUSTRIAL CORPORATIONS

Letters requesting the names of top 30 stockholders and amount of their holdings went to the 100 largest industrial companies. One of these, General Telephone and Electronics, has been shifted to the category of utilities, since more than half of its revenues in 1971 was reported to be derived from its telephone business.

For purposes of analysis, the industrial companies will be divided into two categories: oil companies, the largest single industrial group among industrial corporations, of which there are 18; and all other industrial corporations, 81 in all.

A. OIL COMPANIES

Of the 18 oil companies, four provided all, or virtually all, of the information requested. These were Mobil Oil, the second largest oil company, Atlantic Richfield, Continental Oil and Ashland Oil.

Shell Oil Company reported that 69.6 percent of its common stock outstanding is owned by Shell Petroleum N.V., the Hague, the Netherlands, which in turn is owned 60 percent by Royal Dutch Petroleum Company and 40 percent by the "Shell" Transport and Trading Company, Limited, an English company.

Standard Oil Company of Ohio reported that British Petroleum Company, Limited, had acquired the equivalent of a 25 percent common stock interest in the company which could eventually reach 54 percent.

PARTIAL RESPONSES

Three companies gave very limited information. Standard Oil (New Jersey), now Exxon Corporation, the largest petroleum company, reported that its largest stockholder account is the Trustee of its Thrift Fund, with 2.8 percent

(29)

of the company's outstanding shares; the 30th account had less than 0.2 percent of such shares. All of the 30 largest are intermediary holders, mostly nominees of banks. Similarly Standard Oil Company of California reported that its largest stockholder, a nominee of the Crocker National Bank in San Francisco, held 5.6 percent of outstanding shares of common stock on behalf of employee members of the Company's stock plan. The Sun Oil Company provided only the information made public in its notice of annual meeting which included the fact that 18.2 percent of voting stock was held by the Glenmede Trust Company as trustee of the Pew Memorial Trust, and another 16.5 percent also by Glenmede Trust Company as fiduciary and co-fiduciary for a number of other trusts or estates. Mr. Walter C. Pew, director, as beneficial owner and as trustee, held 3.3 percent.

CLAIM OF CONFIDENTIALITY

Six companies which considered the requested information confidential and therefore refused to supply it were Texaco, Gulf Oil, Standard Oil Company (Indiana), Phillips Petroleum Company, Union Oil Company of California, and Cities Service Company.

FAILURE TO RESPOND

Three companies, Occidental Petroleum, Signal Companies, and Getty Oil Company, failed to respond.

Highlights of the responses from the four companies which supplied the requested data follow the tabulations on these companies inserted here.

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