50 Combined Major Common Stock Holdings in Accounts of Chase Investors Management Corporation New York and the Trust Department of The Chase Manhattan Bank, N.A.* % of Shares Outstanding % of Shares Outstanding Sole Voting Responsibility Shared .8 .1 .2 .3 .2 .1 J. C. Penney Company, Incorporated 930 Crown Zellerbach Corporation 1,470 American Electric Power Company, Inc. 37 0.9 .3 .5 MANUFACTURERS HANOVER TRUST CO., LE METCALF, harman Senate Subcommittee on Budgeting Management and Expenditures, Senate Office Buuding, Washington, D.C. DEAF SENATOR METCALF: In response to your letter to our Chairman, Mr. fister an encising copies of the brochure which we published last year and a In our 20 Isrgest houdings as of the beginning of this year. In each instance, the number at shices for each security for which we hold sole, shared and no voting intent i merepose this information into a brochure for public distribu [Manufacturers Hanover subsequently provided the subcommittees with its July 1974, Report of the Trust Division, Employee Benefit Trust, Personal Trust, from which pertinent excerpts follow:] INTRODUCTION As the trust activities of major banks have expanded in recent years in both the numbers of institutions and individuals served and the volume of investments handled, trust operations have understandably attracted growing attention. This report contains information on Manufacturers Hanover Trust Company's activities in this regard through July 31, 1974. The Trust Division of this company contains three major components: EmDovee Benefit Trust, Personal Trust, and Corporate Trust. Corporate Trust acevtes which include stock transfer and registrar functions and trusteeship A and soum are not reflected in this report because they do not involve stock for which Manufacturers Hanover has investment responsibility. Koovee Benefit Trust comprises the management of pensions, profitsharing, and or employee benefit funds of corporations, unions, and other organizaavaty, as well as those established by self-employed individuals. Although in most ott, sover denent accounts the company is entrusted with responsibilities for both JESEN ORAY #Nestment and administration, in certain accounts the responsibiliJa se da ad to administration. In a number of instances, investment decisions at there with other individuals or organizations. Desertson of Personal Trust are offered primarily but not exclusively to indibusied adı ve beneficiaries of estates or trusts of which Manufacturers Hanover & AMOS POP AP IPustee, or to individual owners of securities. For the latter, Personal Duaz mer avide investment management or custody services. Since, in the Quray Mazzonship, the company acts solely as an agent, carrying out the PARASAN À MAIructions, information on custody holdings and transactions is not Save this repret. #dor de company sets as executor or trustee, or in other fiduciary capacities sad ar gaeyban or conservator, the Trust Division is responsible for all matters walking to the sounts, including investments. In some instances, the company Aur i ned.lity, in others, it shares responsibility with one or more coKalyne va în investment management accounts, the company provides advice german a sacurves deposited with it and may be authorized to buy or sell AN 299 Marve. This report contains information about holdings and transaccum in Phrens Dust accounts for which Manufacturers Hanover has either maka shenjevecumort responsibility. It is patterned to an extent on regulations patieso di ide Comptroller of the Currency on July 31, 1974. C. RODERICK O'NEAL, T MANUFACTURERS HANOVER TRUST Co. COMMON STOCK HOLDINGS OVER $25 MILLION-SOLE OR SHARED INVESTMENT RESPONSIBILITY1 1 The trust division's holdings of the securities listed are substantially higher than the amounts shown. The additional amounts, however, are chiefly in custodial accounts for which Manufacturers Hanover has no investment responsibility and no voting authority. COMMON STOCK HOLDINGS OVER $25 MILLION-SOLE OR SHARED INVESTMENT RESPONSIBILITY 1 1 The trust division's holdings of the securities listed are substantially higher than the amounts shown. The additional amounts, however, are chiefly in custodial accounts for which Manufacturers Hanover has no investment responsibility and no voting authority. |