SBA Assistance for Agricultural Concerns and to Meet Pollution Standards

investment rating, would be assured. Rates, accordingly, would be low. Issue size, for liquidity purposes, would be large. Equity, in terms of major corporations, would be restored. And with the promise of a receptive institutional market for the bonds, the necessary incentive to investment bankers to assemble such issues would be fully and effectively provided.

Bank of America respectfully urges this subcommittee to take favorable action on H.R. 78.

[The charts and tables referred to follow:

TABLE 1.-PAPER AND PULP INDUSTRY: THEORETICAL POLLUTION COST CALCULATIONS

Case 11-Assuming $1.98 Billion Total Cost and a Geometrical Relationship Between Size and Cost per Unit

Total pollution

costs—$1.98

billion: Cost per employee.. $5, 530 $20,000 $18,000 $15, 000 $12, 000 $9,000 $7,000 $5, 530 $5, 056 Cost per company..7,644, 787 116, 000 583,200 1,101, 000 1, 957, 800 3,287, 700 5,079, 900 8, 589, 196 97, 120, 704

55-623-75---2

Date sold

Issuer

Jan. 2 Port of Bellingham, Wash_

3 Conasset, Minn..

Monticello, Minn
16 Water:oo, Iowa.

Jefferson Co., Ky
17 Salix, Towa
22 Dunkirk Ind. Dev. Agency, N.Y.
24 Fayette Co., W. Va.

Tyler Co., W. Va
26 Dade Co., Fla.
30 Mt. Vernon Ind. Dev. Bd., Ala

Monticello, Minn
Feb. 6 Midland Co., Mich.

13 Pine Bluff, Ark.
14 Clinton, lowa
21 Lucas Co., Ohio.
22 St. Lawrence Co. Ind. Dev. Auth., N.Y.
27 Allegheny Co. Ind. Dev. Bd., Pa.

28 Conn. Dev. Commission.
Mar. 1 Port of Bellingham, Wash.

2 Monticello, Minn
15 Prince George's Co., Md..
15 Savannah Port Auth., Ga.
20 LaCygne, Kans.
27 Fremont Co., Colo.
28 Delaware Dept. of Com. Affairs.

30 Columbus, Ind.
Apr. 2 Baltimore, Md.

10 Lehigh Co. Ind. Dev. Auth., Pa.
15 Chautauqua Co. IDA, N.Y.
18 New Orleans Ind. Dev. Bd., La.
19 Mobile, Ala., Ind. Dev. Bd.

Red Wing, Minn..
24 Gallatin Co., Mont.

Escambia Co., Fla.
25 McPherson, Kans..
May 1 Sullivan Co., Tenn., Ind. Dev. Bd.

Rockwood, Tenn., Ind. Dev. Bd.
3 SE Okla. Ind. Auth.
8 Calcasieu Par. Ind. Deb. Bd., La.
14 Charleston Co., S.C.

Intalco Aluminum.
Minnesota P. & L.

do
lowa Public Service
Flintkote.
lowa Public Service
Robin Industries
Union Carbide.

do.
Florida P. & L.
Stauffer Chemical.
Northern States Power
Dow Chemical
International Paper
Standard Brands
Sun Oil
Reynolds Metals
Allegheny Ludlum.
Dexter
Georgia-Pacific
Northern States Power
Potomac Electric.
Union Camp.
Kansas P. & L..
Ideal Basics Industries
Allied Chemical.
Cummins Engine.
FMC Corp
Pa. P. & L.
Carborundum.
Lone Star Industries.
Scott Paper
Northern States Power.
Ideal Basics Industries.
St. Regis Paper
Johns-Manville.
Mead.

do.
Weyerhaeuser.
Cities Service
Airco.

$4,600
15, 000
15, 000

2,000
15, 250
6,000
1, 235
22,000

7,500
66, 000

1, 700
5,000
15, 000
4, 370
15, 000
19, 340
17,500
2, 700
3,500
1,500
2,600
25,000
35,000
30,000
6,000
9, 200
3, 400
6,000
28,000
2, 600
3, 750
16, 000
28, 750

2,500
35,000

400
2,000
4,000
8, 800
21, 000
6, 600

4.625 Morgan Guaranty.
5.49 Blyth Eastman Dillon, Juran & Moody.
4.49

Do.
4.65 Blyth Eastman Dillon, Carlaton D. Beh.
5.56 Lehman Brothers, First Boston.
5.41 Blyth Eastman Dillon, Carlaten D. Beh.
6.96

Bache.
5.25 Morgan Stanley.
5.25

Do.
5.43 Goldman, Sachs.

NA Thornton, Farrish & Gauntt.
5.38 Blyth Eastman Dillon, Juran & Moody.
5.53 Smith, Barney.
5.47 Lehman Brothers.
5.47

Do.
5.355 Dillon Read, Reynolds Securities.
5.87 Goldman, Sachs.
6.04 Smith, Barney.
5.696 Goldman, Sachs.
5.00 Morgan Guaranty.
5.60 Blyth Eastman Dillon, Juran & Moody.
5.671 Alex. Brown & Sons, Goldman, Sachs.
5.79 Blyth Eastman Dillon.
5.789 Blyth Eastman Dillon, George K. Baum.
5.09 Boettcher.
5.82 Lehman Brothers, Loeb, Rhodes, Lazard Freres.

NA Chase Manhattan.
5.78 Lehman Brothers, Kidder, Peabody.
5.6319 First Boston, Drexel Burnham.

NA Chase Manhattan.
5. 78 Howard, Weil, Labouisse, Freidrichs.
5.737 Smith, Barney, Blyth Eastman Dillon.
5.689 Blyth Eastman Dillon; Juran & Moody.
5.595 Boettcher.
5.6837 White, Weld.
5.67 Goldman, Sachs.
5.82

Do.
5.82

Do.
5.6657 Do.
5.68 First Boston.
5.84 Blyth Eastman Dillon; Baker, Watts.

5. 643 Goldman, Sachs. 5.6405 Do. 5.711

Do. 5.709

Do. 5.776

Do.
6.05

Do.
6. 208 Dillon Read Munci., Reynolds Securities.
5.72 Morgan Stanley, Blyth Eastman Dillon, Lehman

Brothers.
6.08 First Boston, Howard, Weil, Labcuisse, Friedrichs.
5. 976 Do.
5. 02 Boettcher.
5.36 First Boston.
6. 692 Blyth Eastman Dillon, Goldman, Sachs.
5.97 Thornton, Farish & Gauntt; Hattier, Sanford &

Renoir; Howard, Weil, Labouisse, Friedrichs;

Kohlmeyer, Scharff & Jones.
5. 954 Blyth Eastman Dillon, Kidder, Peabody.
5.7733 Kidder Peabody, Blyth Eastman Dillon.
5.7704 Loeb, Rhodes, Lazard Freres, Lehman Brothers.

NA Hubbard, Westervelt & Mottelay.
5.755 Blyth Eastman Dillon.
5.64 Lehman Brothers.

NA Blyth Eastman Dillon.
5.678 Blyth Eastman Dillon; Carleton D. Beh.

NA Chase Manhattan.
6.07 Blyth Eastman Dilloin.
6.08 Do.
5. 79 Morgan Stanley.

NA First National City Bank; Bankers Trust.
5.80

Goldman, Sachs.
5.90 Goldman, Sachs; Wheat, First Securities.

NA Chase Manhattan.
NA Bankers Trust; National Bank of Commerce;

Peoples Nat'l Bank; Pacific Nat'l Bank of

Washington.
5.097 Blyth Eastman Dillon.
5.90 Morgan Stanley.
5.97

Lehman Brothers; Kidder Peabody.
5.74 Morgan Stanley.
5. 97 Lehman.
5. 74

Lehman Brothers; Kidder Peabody.
5.83 Blyth Eastman Dillon.
5.94

Do.
5.682 First Boston; Alex. Brown & Sons; Baker, Watts;

Robert Garrett & Sons; Legg, Mason.
5.99 Kidder, Peabody; Furman Securities; Frost,

Johnson, Reed & Smith. 5.99 Do.

Puget Sound P&L
Montana Power.
Allied Chemical
Westvaco
Monsanto.
Crown Zellerbach.
Union Camp-
lowa G. & E., Towa So. Util., lowa P. & L., lowa

Public Service.
Amax-Howmet.
W. R. Grace
Martin Marietta
United States Steel
National Steel
Corning Glass
Chesapeake Power
Gifford-Hill.
ITT-Rayonier

22 Frederick Co., Md.
26 Lincoln Co., Mont.
27 Calera, Ala.
28 Allegheny Co. Ind. Dev. Auth., Pa.

30 Weirton, W. Va.
July 12 Steuben Co. Ind. Dev. Agency, N.Y.

13 West Point, Va.
15 Dorchester Co., S.C.

Port of Port Angeles, Wash.

4,900
4, 950
9,000
22, 000
20,000

2,000
11,500

4,000
35, 000

ATTACHMENT A--Continued

TAX-EXEMPT POLLUTION CONTROL FINANCING (1973)--Continued

7.60 Kidder, Peabody.
5.78 Goldman, Sachs; Smith, Barney.
6.259 Goldman, Sachs.
6.26 Merrill Lynch.

NA First National Bank of Chicago.
6.032 Kuhn, Loeb; Smith, Barney.
5. 125 Morgan Guaranty; Melton National; Seattle-1st

National.
5. 125 Do.
NA Wheat, First Securities; Craigie-Mason, Hagan;

Investment Corp. of Va.; Anderson & Strud-
wick, Davenport & Co., of Va.; Horner, Barks-
dale; Strader; Branch Dabell; Cecil-Waller;

Mason & Lee; W. A., Stevens; Shorer Ware.
5. 70 First Boston.
5.954 Blyth Eastman Dillon.
6.032 Do.
5. 947 First Boston.
4.95

Do.
5. 724 Blyth Eastman Dillon.
5.850 Blyth Eastman Dillon; Loewi.
6.094 Blyth Eastman Dillon.
5. 850 Blyth Eastman Dillon; Loewi.

Date sold

Issuer

Aug. 7

N.H. Ind. Dev. Auth.

Phila. Auth. for Ind. Dev., Pa.
20 Greenlee Co., Ind. Dev. Auth., Ariz.
28 Hancock Co., Ky-
29 Florence Co., S.C.

30 Baltimore Co., Md.
Sept. 6 Spokane Co., Wash.

Tacoma, Wash
7 Amherst ind. Dev. Auth., Va.

12 Jay Me
17 Sweetwater Co., Wyo.
21 do.
25 Butler Co., IDA, Pa.
26 Joliet, III.
27 East Millinocket, Me.

Port Edwards, Wisc 28 Jackson, Ala., Ind. Dev. Ed.

Wekcosa, Wisc

[merged small][merged small][ocr errors]

Oct. 2 Allegheny Co. Ind. Dev. Auth., Pa.

4 Michigan City, Ind. 9 Taylor Co., Fla. 10 East Chicago, Ind.

Ohio AQDA.

Ohio Water DA
11 Nueces Co. Navig. Dist., Tex.

Okla. Env. Fin. Auth
18 III. Ind. Poll. Cont. Financing Auth-
24 Jackson Co., Miss.
25 Bay Co., Fla.

Boonville, Ind.
30 Ohio AQDA.
31 Conn. Dev. Auth.

..do.

Napoleon Tp., Mich.
Nov. 5 Bartow Co. DA, Ga.

16, 000
23, 500
27,500
12,500
13,500
5,000
4,560
9,725
6,540
17, 250
4,500
5, 646

800
11, 650
9, 000

865
41,000

Olin
Mississippi Power
International Paper.
So. Ind. G. & E.
Mead.
Conn. L. & P.; Hartford Electric; West Mass. Electric.
Conn. Yankee Atomic Power-
Michigan Seamless Tube.
Georgia Power

Do.
Do.

5. 755 First Boston.
5. 737 Goldman, Sachs; Blyth Eastman Dillon.
5. 682 Goldman, Sachs.
5. 62 Smith, Barney; Bear Stearns.
6.62 Do.
6.62

Do.
5.64 Blyth Eastman Dillon.
5. 64
6.066
15.925 E. F. Hutton; Leob Rhoades.

NA Kidder, Peabody; Lehman.
5.625 Goldman, Sachs.
4.95 Bankers Trust.
6.05 Morgan Stanley.

NA Do.

NA Morgan Guaranty.
5.98 Blyth Eastman Dillon; First Boston; Robinson-

Humphrey.
5. 81 First Boston.
5.69 Blyth Eastman Dillon, Carleton D. Beh.
5.70 First Boston.
6.625 Seattle-First Nat'l. Bk. Group.

NA Chase Manhattan Group.
6.00 Goldman, Sachs.
5. 764 Blyth Eastman Dillon.

NA Manufacturers Hanover Trust.
5.81 Morgan Stanley; Dean Witter.
15. 7428 Smith, Barney; George K. Baum.

5. 92 Morgan Stanley.
5.97 Blyth Eastman Dillon; Carleton D. Beh.
5. 862 Do.
5. 8679

Do.
6.30 Blyth Eastman Dillon; First Boston.

Books

SBA Assistance for Agricultural Concerns and to Meet Pollution Standards ...