(32) CONTINENTAL TELEPHONE CORPORATION—Continued STEGGE & Co.... Schmidt & Co.... (Hare & Co.----Bank of New York.. Birney & Co. Williams & Co... Subtotal-New York Big Seven... C.A. England & Co. Leslie & Co... Melhoun & Co.-- Bruch & Co.-.-. Marsay & Co.... Alsta & Co. sOlen & Co... Eagle & Co.. Southern California First National Bank Lane & Co...... (San Diego). Other banks : North Carolina National Bank (Char- Barfox & Co.... lotte, N.C.). First Trust Company, (St. Paul) -- Brack & Co...... Metropolitan Life... Pacific Mutual Life Ins. Co...-- Brown Brothers, Harriman & Co.---.. Stanley A. Owens. Subtotal..... 12, 682, 450 New York Stock Exchange. Cede & Co... New York banks: Bankers Trust... Chase Manhattan... First National City.. (42) --------- WESTERN UNION CORPORATION—Continued Minneapolis banks: Bruch & Co... Freer & Co... Gale & Co... Carothers & Clark. Central National Bank of Cleveland..... Parness & Co.... First National Bank of Topeka, Kans.... Sefi & Co... Hamilfund & Co. Home Insurance.... Brown Brothers, Harriman & Co... Inc. Donaldson, Lufkin & Jenrette, Inc..... The Controller of the State of New York in Trust for the Common Retirement Peroont American Telephone & Telegraph Company General Telephone & Electronics Corporation American Telephone and Telegraph is widely known General Telephone and Electronics was listed by for the dispersion of its stock; its stock is probably the Fortune for the first time as a utility in 1972, since in 1971 most widely held of all corporate securities. At the end revenues from its telephone business exceeded revenues of 1971 there were reported to be 3,009,768 holders of from its electronics business. In its case the top 30 holders common stock and 696,545 of preferred. Thus it is not held 18.1 percent of the total stock, and only three surprising that the percentage of total stock held by the stockholders held 2 percent or more of the total each as top 30, 7.5 percent, is substantially under the percentage follows: held in other utilities or in corporations generally. The largest single block of stock is that held by the Chase Cede and Company 3.8 (the nominee of the New York Stock Exchange) Manhattan Bank (through three nominees), totaling First National City Bank. 2.3 5,906,510 shares, or 1.1 percent of the 549,310,000 shares (through three nominees) of common outstanding. Eight New York banks held a Sahara Coal Company, Chicago, Ill.. 2.1 total of 3.0 percent of AT&T common. Merrill Lynch, Six New York banks combined held 4.9 percent of Pierce, Fenner and Smith held in its own account 4,363,971 GT & E voting stock. shares or 0.8 percent of the total. However, if the 2,894,746 shares held for it by Cede and Company were added to the Continental Telephone Corporation amount in its own account, the total of 7,258,717 would be 1.3 percent and would make Merrill Lynch, Pierce, The top 30 stockholders held 29.4 percent of ContiFenner and Smith outrank Chase Manhattan as the chief nental Telephone common stock. Now York banks were bolder of AT&T's common stock. considerably more significant in the proportion of their 2. 7 stockholdings of Continental Telephone compared to Percent their holdings in the two larger communications com Cede and Company 6.9 (the nominee of the New York Stock Exchange) panies just discussed. Three New York banks lead the Bankers Trust.--. 6. 2 seven holders with 2 or more percent each of the stock of (through two nominees) the company as follows: Chase Manhattan.. 4.3 Porcont (through two nominees) First National City-- State Street of Boston. 4. 1 5. 1 (through three nominees) (through four nominees) U.S. Trust Company Chase Manhattan.. 3. 7 4.9 (through two nominees) (through two nominees) 2. 2 Bank of New York, 2.8 Controller of the State of New York in trust for the (through three nominees) Provident Bank, Philadelphia. Common Retirement Fund.... 2. 1 Cede and Company- 2.4 Seven New York banks combined held 17.8 percent of (the nominee of the New York Stock Exchange) Western Union's common stock. Metropolitan Life Insurance Company- 2.0 Seven New York banks combined held 15.2 percent of B. ELECTRIC AND GAS UTILITIES Continental Telephone's common stock, or more than half of the amount held by the top 30 holders. For the 16 electric and gas utilities indicating the 30 largest shareholders and the amount of such holdings, the Western Union Corporation range in the percentage of voting stock held by the 30 top stockholders was from 10.0 to 42.5 percent, with 10 Western Union's top 30 stockholders held 43.0 percent falling within the range of 24.1 to 29.9 percent. Following the tabulations on these 16 companies will be brief sumof its common stock. Seven holders accounted for 2 percent maries of each, the companies being arranged by size of or more each of the stock as follows: assets in 1971. Chemical Bank.. Irving Trust Co.... First Pennsylvania. Fidelity Trust Co.. Boston Safe Deposit.. State Street... St. Louis Union Trust... TNOM & Co... inee Co. Footnotes at end of table. 0.4 7 AMERICAN ELECTRIC POWER COMPANY 255, 255 255, 255 394, 803 394, 803 Gur & Cound 217, 000 Kinney Services.. 200, 000 Subtotal..... 5, 316, 819 5, 316, 819 (15).......... VIRGINIA ELECTRIC AND POWER COMPANY. 40, 575, 282 12, 106, 922 12, 106, 922 New York Stock Exchange.... Cede & Co. -- } 417,000 .7 8.9 29.8 New York banks: Pitt & Co... Cudd & Co. Stuart & Co.... King & Co. Chave & Co.... Sigler & Co... (Lynn & Co. Douglass & Co... Carson & Co.--.. Atwell & Co. (C.A. England & Co. Cummings & Co..... Steere & Co.- Anderson & Co.... Bost & Co.. Gem & Co. Don & Co. Trussal & Co...... Central National Bank of Cleveland..... Parness & Co.----- United Virginia Bank, Richmond, Va.... Hamac & Co.... Va. Equitable Life.. Prudential Insurance.. Hartford Accident Co... Merrill Lynch, Pierce, Fenner & Smith Inc. 1, 497, 186 1, 497, 186 3. 7 Subtotal.. 6, 204, 486 6, 204, 486 15. 3 Footnotes at end of table. Jenkins & Co.. Co. H. A. Whitten & Co. & Co. Steere & Co. Edal & Co.. Copley & Co. Perc & Co.----- Continental Illinois National..--- ---- Alsta & Co.. First National Bank of Shreveport (La.)'. Co. Merrill Lynch, Pierce, Fenner & Smith Inc. Bess & Co. The State Teachers Retirement Board of Ohio. George R. Brown (executive director, Texas Eastern). William A. Smith.. Brown & Root, Inc.- Subtotal. |
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