TABLE C-27.-Continental Oil Co. Management Interlocks, Dec. 31, 1962-Con. Downtown-Lower Manhattan Association, Inc. E. J. McNeely. 417 Park Avenue Corp__. Total companies---. Total companies by directors--. A. B. Lawrence. 2 56 1 Subsidiaries in which Continental Oil Co. owns 50 percent or more of outstanding stock are excluded. (28) Douglas Aircraft Corp.-The 15 directors of Douglas Aircraft were linked with managements of a total of 7 banks and financial institutions, 1 insurance company, and 28 industrial-commercial corporations. There were two multiple interlocks each with Capital for Technical Industries (California) and Pacific Mutual Life Insurance Co. Other organizations identified with Douglas Aircraft's management included Cohu Electronics Inc., Richfield Oil Corp., Giannini Controls Corp., and Tidewater Oil Co. Table C-28 identifies management interlocks of Douglas Aircraft Corp. as of December 31, 1962. TABLE C-28.-Douglas Aircraft Corp. Management Interlocks, Dec. 31, 1962 Directors__. Officers not directors_ Total___. Director interlocks: Banks and financial institutions: Citizens National Bank, Los Angeles----- Security First National Bank, Los Angeles----. Investment Co. of America__ Financial Corp. of America_. Total companies---. Insurance companies: Pacific Mutual Life In surance Co___. Total companies- Industrial and commercial: Bekins Van Lines Co.__ Bekins Van Lines Co., Nebraska__ Bekins Van & Storage Co., New Mexico___ M. W. Bekins. M. W. Bekins. F. W. Conant. N. Petree. 15 11 26 7 Bekins Van & Storage, Inc. (Santa Barbara). Bekins Van Lines, Inc. (California) Bekins Household Shipping Co----. Bekins Van & Storage Co., Nevada. Glasspar Co‒‒‒‒‒ Genisco, Inc___ Cosmodyne Corp-- Cohu Electronics, Inc--- Royal Industries, Inc--- Richfield Oil Corp-- Tool Research & Engineering Corp--- Barker Bros. Corp- Marshall-Wells Co___ F. W. Conant. F. W. Conant. T. W. Johnson. T. W. Johnson. C. S. Jones. C. S. Jones. N. Petree. Southern California Gas Co N. Petree. N. Petree. 1 Subsidaries in which Douglas Aircraft Corp. owns 50 percent or more of outstanding stock are excluded. (29) American Telephone & Telegraph Co.-The giant among American corporations in terms of both assets and profits, A.T. & T. was extensively interlocked with other corporations that were not subsidiary to it or to members of the Bell System. The intercorporate relationships set forth on table C-9 for Western Electric Co., A.T. & T.'s manufacturing subsidiary, should be considered in conjunction with the management interlocks of its parent. The 18 directors of A.T. & T. participated in the managements of 18 banks and financial institutions, 16 insurance companies, and 58 industrial-commercial corporations. All told, there were 104 corporate interlocks between the directors and officers of A.T. & T. and other corporations. This was the largest number of corporate interrelationships found in any of the 29 corporations included in the industrialcommercial category of the sample. Among banks and financial institutions, A.T. & T. had two interlocks each with Morgan Guaranty Trust Co., Manufacturers Hanover Trust Co., Chase Manhattan Bank, and the East River Savings Bank. Insurance companies linked to A.T. & T.'s management with dual ties included John Hancock Mutual Life Insurance Co., Equitable Life Assurance Society of the United States, and Metropolitan Life Insurance Co. Other insurance companies related to A.T. & T. management included Prudential Insurance Co. of America, Continental Insurance Co., and Fidelity & Casualty Co. Among the industrial-commercial companies, A.T. & T. had a dual connection with General Motors Corp., and other direct links included Gillette Co., United Shoe Machinery Corp., IBM World Trade Corp., Corn Products Refining Co., Westinghouse Electric Corp., Southern New England Telephone Co., Republic Steel Corp., Campbell Soup Co., Continental Oil Co., and Standard Oil Co. (New Jersey). A.T. & T.'s connections with other company managements, as of December 31, 1962, are set forth on table C-29. TABLE C-29.—American Telephone & Telegraph Co. Management Interlocks,1 TABLE C-29.-American Telephone & Telegraph Co. Management Interlocks,1 Dec. 31, 1962-Continued Director interlocks-Continued Banks and financial institutions-Continued Irwin Union Bank & Trust Co., Columbus, Ind. Union Commerce Bank__ New Brunswick Savings Institution__ J. I. Miller. J. I. Miller. T. F. Patton. G. F. Smith. Continental Illinois National Bank & Trust Co. W. A. Hewitt. Total companies----. Insurance companies: John Hancock Mutual Life Insurance Co.-- Equitable Life Assurance Society of the Continental Insurance Co.. Firemen's Insurance Co. of Newark, N.J_ Milwaukee Insurance Co---. National Ben Franklin Insurance Co.. J. Taylor. 18 L. D. Brace. E. B. Hanify. H. T. Heald. J. V. Herd. J. V. Herd. J. V. Herd. J. V. Herd. Atchison, Topeka & Sante Fe Railway Co----- J. L. McCaffrey. Corn Products Refining Co--- J. L. McCaffrey. J. J. McCloy. J. J. McCloy. 16 VSI Corp. Westinghouse Electric Corp-. Allied Chemical Corp-‒‒‒ Southern New England Telephone Co-- E. J. McNeely. TABLE C-29.-American Telephone & Telegraph Co. Management Interlocks,' Dec. 31, 1962-Continued Chicago, Rock Island & Pacific Railway Co--- W. A. Hewitt. Republic Steel Corp--. Liberia Mining Co., Ltd., Monrovia_ K & S Metal Supply Inc.. Reserve Mining Co.--- Standard Oil Co. (New Jersey). Mead Johnson & Co..- Triangle Conduit & Cable Co United New Jersey Railroad & Canal Co-- Delaware & Hudson Co.... Polaroid Corp--- Total companies---. Other: T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. T. F. Patton. M. J. Rathbone. G. F. Smith. G. F. Smith. G. F. Smith. W. White. J. R. Killian, Jr. 58 Mitre Corp__- L. D. Brace. Downtown-Lower Manhattan Association, Inc. E. J. McNeely. Miller Minerals_ Total companies. Total companies by directors_. Officers not directors: Banks and financial institutions: Small Business Investment Co. of New York, Inc__ Summit Trust Co.-. U.S. Trust Co. of New York_ J. I. Miller. J. W. Cook. P. A. Gorman. H. P. Moulton. 1 Subsidiaries in which American Telephone & Telegraph Co. owns 50 percent or more of outstanding stock are excluded. c. Letter questionnaire In an attempt to broaden the scope of the staff study by the inclusion of a greater number of corporations, and to identify interlocking relationships that could involve potential violations by competing corporations of the prohibitions in Clayton Act section 8, on January 27, 1964, Chairman Celler requested the Federal Trade Com 4 |