Ford, Other Stocks Off D.C. Legal List: Ford Is Casualty Crane Also Dropped
A delayed reaction from the business recession of 1958 resulted yesterday ip the removal of an unusually large number of securities from the list of legal investments for trust funds in the District of Columbia.</br></br>The list, widely followed in local investment circles, is -drafted semi annually by Theodore Cogswell, District register of wills, under the rules of U. S. District Court here.</br></br>Some 16 industrial common stocks, one public utility common stock and 13 industrial preferred stocks were dropped from the July 1, 1959, list.</br></br>All 24 bond issues of the Pennsylvania Railroad and all six bond issues of the Erie Railroad were removed duif to the rule that fixed charges on railroads must be earned at least times.</br></br>Cogswell expressed the opinion that this yearÛªs general improvement in the economy should mean the return to listing of a number of issues presently dropped.