[Federal Register Volume 63, Number 81 (Tuesday, April 28, 1998)]
[Rules and Regulations]
[Pages 23195-23200]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-11221]



========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents 
having general applicability and legal effect, most of which are keyed 
to and codified in the Code of Federal Regulations, which is published 
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents. 
Prices of new books are listed in the first FEDERAL REGISTER issue of each 
week.

========================================================================


Federal Register / Vol. 63, No. 81 / Tuesday, April 28, 1998 / Rules 
and Regulations

[[Page 23195]]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM

12 CFR Parts 220 and 224

[Regulations T and X]


Securities Credit Transactions; List of Marginable OTC Stocks; 
List of Foreign Margin Stocks

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule; determination of applicability of regulations.

-----------------------------------------------------------------------

SUMMARY: The List of Marginable OTC Stocks (OTC List) is composed of 
stocks traded over-the-counter (OTC) in the United States that qualify 
as margin securities under Regulation T, Credit by Brokers and Dealers. 
The List of Foreign Margin Stocks (Foreign List) is composed of foreign 
equity securities that qualify as margin securities under Regulation T. 
The OTC List and the Foreign List are published four times a year by 
the Board. This document sets forth additions to and deletions from the 
previous OTC List and the previous Foreign List.

EFFECTIVE DATE: May 11, 1998.

FOR FURTHER INFORMATION CONTACT: Peggy Wolffrum, Securities Regulation 
Analyst, Division of Banking Supervision and Regulation, (202) 452-
2837, Board of Governors of the Federal Reserve System, Washington, 
D.C. 20551. For the hearing impaired only, contact Dorothea Thompson, 
Telecommunications Device for the Deaf (TDD) at (202) 452-3544.

SUPPLEMENTARY INFORMATION: Listed below are the deletions from and 
additions to the Board's OTC List, which was last published on January 
27, 1998 (63 FR 3805), and became effective February 9, 1998. A copy of 
the complete OTC List is available from the Federal Reserve Banks.
    The OTC List includes those stocks traded over-the-counter in the 
United States that qualify as OTC margin stock under Regulation T (12 
CFR Part 220) by meeting the requirements of section 220.11(a). This 
determination also affects the applicability of Regulation X (12 CFR 
Part 224). These stocks have the degree of national investor interest, 
the depth and breadth of market, and the availability of information 
respecting the stock and its issuer to warrant regulation in the same 
fashion as exchange-traded securities. The OTC List also includes any 
OTC stock designated for trading in the national market system (NMS 
security) under rules approved by the Securities and Exchange 
Commission (SEC). Additional OTC stocks may be designated as NMS 
securities in the interim between the Board's quarterly publications. 
They will become automatically marginable upon the effective date of 
their NMS designation. The names of these stocks are available at the 
SEC and at the National Association of Securities Dealers, Inc.
    Pursuant to amendments recently adopted by the Board (see, 63 FR 
2805, January 16, 1998), the definition of OTC margin stock in 
Sec. 220.2 and the eligibility criteria for these stocks in 
Sec. 220.11(a) and (b) will be removed from Regulation T on January 1, 
1999, and broker-dealers will be permitted to extend margin credit 
against all equity securities listed in the Nasdaq Stock Market. 
Lenders subject to Regulation T and borrowers subject to Regulation X 
who are required under Sec. 224.3(a) to conform credit they obtain to 
Regulation T will use the OTC List until publication of the next OTC 
List, anticipated for August 1998. The Board will cease publication of 
the OTC List in 1999.
    Also listed below are the deletions from and additions to the 
Foreign List, which was last published on January 27, 1998, (63 FR 
3805), and became effective February 9, 1998. The Foreign List is used 
solely by lenders subject to Regulation T. A copy of the complete 
Foreign List is available from the Federal Reserve Banks.

Public Comment and Deferred Effective Date

    The requirements of 5 U.S.C. 553 with respect to notice and public 
participation were not followed in connection with the issuance of this 
amendment due to the objective character of the criteria for inclusion 
and continued inclusion on the Lists specified in 12 CFR 207.6(a) and 
(b), 220.17(a), (b), (c) and (d), and 221.7(a) and (b). No additional 
useful information would be gained by public participation. The full 
requirements of 5 U.S.C. 553 with respect to deferred effective date 
have not been followed in connection with the issuance of this 
amendment because the Board finds that it is in the public interest to 
facilitate investment and credit decisions based in whole or in part 
upon the composition of these Lists as soon as possible. The Board has 
responded to a request by the public and allowed approximately a two-
week delay before the Lists are effective.

List of Subjects

12 CFR Part 220

    Banks, Banking, Brokers, Credit, Margin, Margin requirements, 
Investments, National Market System (NMS Security), Reporting and 
recordkeeping requirements, Securities.

12 CFR Part 224

    Banks, Banking, Borrowers, Credit, Margin, Margin requirements, 
Reporting and recordkeeping requirements, Securities.
    Accordingly, pursuant to the authority of sections 7 and 23 of the 
Securities Exchange Act of 1934, as amended (15 U.S.C. 78g and 78w), 
and in accordance with 12 CFR 220.2 and 220.11, there is set forth 
below a listing of deletions from and additions to the OTC List and the 
Foreign List.

Deletions From The List Of Marginable OTC Stocks

Stocks Removed For Failing Continued Listing Requirements

4HEALTH, INC.
    Warrants (expire 01-15-1998)
ACCUMED INTERNATIONAL, INC.
    No par common
AEGIS CONSUMER FUNDING GROUP, THE
    $.01 par common
AMERICAN UNITED GLOBAL, INC.
    $.01 par common
    Warrants (expire 07-31-1998)
AMTRUST CAPITAL CORPORATION
    $.01 par common
APS HOLDING CORPORATION
    Class A,
    $.01 par common
ARNOLD PALMER GOLF COMPANY
    $.50 par common
BANC ONE CORPORATION (Ohio)

[[Page 23196]]

    Series C, no par convertible Preferred
BANKUNITED FINANCIAL CORPORATION (Florida)
    Series 1993, $.01 par non-cumulative convertible preferred
    $.01 par non-cumulative perpetual preferred
BIRD CORPORATION
    $1.00 par common
BOYDS WHEELS, INC.
    No par common
CAM DESIGNS, INC.
    Warrants (expire 07-24-2000)
CAMPO ELECTRONICS, APPLIANCES AND COMPUTERS, INC.
    $.10 par common
CHANTAL PHARMACEUTICAL CORPORATION
    $.01 par common
CITYSCAPE FINANCIAL CORPORATION
    $.01 par common
COMPUTER LANGUAGE RESEARCH, INC.
    $.01 par common
CONSOLIDATED STAINLESS, INC.
    $.01 par common
CONSUMERS FINANCIAL CORPORATION 8.5% Series A, convertible preferred
COUNTRY STAR RESTAURANTS, INC.
    $.001 par common
DATAMARINE INTERNATIONAL, INC.
    $.01 par common
DEFLECTA-SHIELD CORPORATION
    $.01 par common
DESWELL INDUSTRIES, INC.
    Warrants (expire 07-17-2000)
EQUITEX, INC.
    $.001 par common
FIRST ENTERPRISE FINANCIAL GROUP, INC.
    $.01 par common
FIRST ROBINSON FINANCIAL CORPORATION
    $.01 par common
GENERAL ACCEPTANCE CORPORATION
    No par common
HELISYS, INC.
    $.001 par common
HEMASURE, INC.
    $.01 par common
INTEL CORPORATION
    Warrants (expire 03-14-1998)
KAMAN CORPORATION
    Depositary Shares
KWG RESOURCES, INC.
    No par common
MANHATTAN BAGEL COMPANY, INC.
    No par common
MOLTEN METAL TECHNOLOGY, INC.
    $.01 par common
NORTH COAST ENERGY, INC.
    Series B, $.01 par cumulative convertible preferred
NORTHWEST TELEPRODUCTIONS, INC.
    $.01 par common
OMNIS TECHNOLOGY CORPORATION
    $.01 par common
PHOTRAN CORPORATION
    No par common
PRECISION STANDARD, INC.
    $.0001 par common
PROCEPT, INC.
    $.01 par common
QUALITY DINO ENTERTAINMENT, LTD.
    No par common
RELIANCE ACCEPTANCE GROUP, INC.
    $.01 par common
RHEOMETRIC SCIENTIFIC, INC.
    No par common
ROSE'S HOLDINGS, INC.
    No par common
    Warrants (expire 04-28-2002)
SI DIAMOND TECHNOLOGY, INC.
    $.001 par common
TELEGEN CORPORATION
    No par common
TLII LIQUIDATING CORPORATION
    $.01 par common
UNIVERSAL HOSPITAL SERVICES, INC.
    $.01 par common
UNIVERSAL SEISMIC ASSOCIATES, INC.
    $.0001 par common
VDC CORPORATION, LTD.
    $.10 par common
VIDEOLAN TECHNOLOGIES, INC.
    $.01 par common

Stocks Removed for Listing on a National Securities Exchange or 
Being Involved in an Acquisition

AARON RENTS, INC.
    $.50 par common
    $1.00 par common
ADVANTAGE BANCORP, INC. (Wisconsin)
    $.01 par common
ALLIED HOLDINGS, INC.
    No par common
AMTI COMMUNICATIONS CORPORATION
    $.20 par common
AMERICA FIRST PARTICIPATING/PREFERRED EQUITY
MORTGAGE LP
    Exchangeable units of limited partnership
AMERICAN GREETINGS CORPORATION
    Class A, $1.00 par common
AMERICAN VANGUARD CORPORATION
    $.10 par common
AMERUS LIFE HOLDINGS, INC.
    Class A, no par common
ARBOR DRUGS, INC.
    $.01 par common
ATC GROUP SERVICES, INC.
    $.01 par common
    Class C, warrants (expire 04-30-1998)
AUTOBOND ACCEPTANCE CORPORATION
    No par common
BALLY TOTAL FITNESS HOLDING CORPORATION
    $.01 par common
BALLY'S GRAND, INC.
    $.01 par common
    Warrants (expire 08-19-2000)
BGS SYSTEMS, INC.
    $.10 par common
BLIMPIE INTERNATIONAL, INC.
    $.01 par common
BROOKS FIBER PROPERTIES, INC.
    $.01 par common
CANNON EXPRESS, INC.
    $.01 par common
CHARTWELL LEISURE, INC.
    $.01 par common
CHIPS AND TECHNOLOGIES, INC.
    $.01 par common
CHITTENDEN CORPORATION
    $1.00 par common
COMMNET CELLULAR, INC.
    $.001 par common
COMMUNICATIONS CENTRAL, INC.
    $.01 par common
COMPUSERVE CORPORATION
    $.01 par common
CONTINENTAL CIRCUITS CORPORATION
    $.01 par common
COTELLIGENT GROUP, INC.
    $.01 par common
COVENANT BANCORP, INC.
    $5.00 par common
CYPROS PHARMACEUTICAL CORPORATION
    No par common
  
DBA SYSTEMS, INC.
    $.10 par common
EL CHICO RESTAURANTS, INC.
    $.10 par common
EMERALD ISLE BANCORP, INC. (Massachusetts)
    $1.00 par common
FFVA FINANCIAL CORPORATION
    $.10 par common
FIRST ALERT, INC.
    $.01 par common
FIRST STATE CORPORATION
    $1.00 par common
FIRST UNITED BANCORPORATION (South Carolina)
    $1.67 par common
FORT WAYNE NATIONAL CORPORATION
    No par common
FULCRUM TECHNOLOGIES, INC.
    No par common
GEORGE MASON BANKSHARES, INC. (Virginia)
    $1.66 par common
GRANTE FINANCIAL, INC.
    $.001 par common
GREAT FINANCIAL CORPORATION
    $.01 par common
  
GULF SOUTH MEDICAL SUPPLY, INC.
    $.01 par common
HEARTSTREAM, INC.
    $.001 par common
HECTOR COMMUNICATIONS CORPORATION
    $.01 par common
HOLMES PROTECTION GROUP, INC.
    $.01 par common
HOMECORP, INC.
    $.01 par common
HUGOTON ENERGY CORPORATION
    No par common
ILC TECHNOLOGY, INC.
    No par common
IMPACT SYSTEMS, INC.
    No par common
INDIVIDUAL, INC.
    $.01 par common
INTERNATIONAL PETROLEUM CORPORATION
    No par common
KAPSON SENIOR QUARTERS CORPORATION
    $.01 par common
KEY FLORIDA BANCORP, INC.
    $.01 par common
LASER INDUSTRIES LIMITED
    Ordinary shares
    (par NIS 0.0001)
LEXFORD, INC.
    No par common
LIFE BANCORP, INC. (Virginia)
    $.01 par common
LIN TELEVISION CORPORATION
    $.01 par common
MacDERMID, INCORPORATED
    No par common
MAS TECHNOLOGY LIMITED

[[Page 23197]]

    American Depositary Receipts
MID CONTINENT BANCSHARES, INC. (Kansas)
    $.10 par common
MIDWEST FEDERAL FINANCIAL CORPORATION
    $.01 par common
ML BANCORP, INC. (Pennsylvania)
    $.01 par common
MOBILE GAS SERVICE CORPORATION
    $2.50 par common
MOOVIES, INC.
    $.001 par common
NETCOM ON-LINE COMMUNICATION SERVICES, INC.
    $.01 par common
NEW JERSEY STEEL CORPORATION
    $.01 par common
  
NORWICH FINANCIAL CORP.
    $1.00 par common
OMNI INSURANCE GROUP, INC.
    $.01 par common
ONBANCORP, INC. (New York)
    $1.00 par common
OREGON METALLURGICAL CORPORATION
    $1.00 par common
ORION NETWORK SYSTEMS, INC.
    $.01 par common
PEMBRIDGE, INC.
    No par common
PERPETUAL BANK, A FEDERAL SAVINGS BANK (South Carolina)
    $1.00 par common
PERSEPTIVE BIOSYSTEMS, INC.
    $.01 par common
PLASTI-LINE, INC.
    $.001 par common
PROXIMA CORPORATION
    $.001 par common
PURETEC CORPORATION
    $.01 par common
RAPTOR SYSTEMS, INC.
    $1.00 par common
REDWOOD TRUST, INC.
    $.01 par common
    9.74% Class B,
    $.01 par cumulative convertible preferred
REEDS JEWELERS, INC.
    $.10 par common
ROTTLUND COMPANY, INC., THE
    $.01 par common
SAGEBRUSH, INC.
    No par common
SANCO CORPORATION
    $.01 par common
  
SHARED TECHNOLOGIES FAIRCHILD, INC.
    $.001 par common
SHOREWOOD PACKAGING CORPORATION
    $.01 par common
SIGNATURE BRANDS USA, INC.
    $.01 par common
SOFTWARE ARTISTRY, INC.
    No par common
SPINE-TECH, INC.
    $.01 par common
SPINNAKER INDUSTRIES, INC.
    No par common
    Class A, no par common
STAGE STORES, INC.
    $.01 par common
STATE OF THE ART, INC.
    No par common
STECK-VAUGHN PUBLISHING CORPORATION
    $.01 par common
STOKELY USA, INC.
    $.05 par common
SUBURBAN OSTOMY SUPPLY CO., INC.
    No par common
SYMETRICS INDUSTRIES, INC.
    $.25 par common
TECHNOLOGY MODELING ASSOCIATES, INC.
    No par common
TYSONS FINANCIAL CORPORATION
    $5.00 par common
UNIVERSAL OUTDOOR HOLDINGS, INC.
    $.01 par common
VIDEO SERVICES CORPORATION
    $.01 par common
VISIGENIC SOFTWARE, INC.
    $.001 par common
WAUSAU PAPER MILLS CORPORATION
    $.50 par common
XPEDITE SYSTEMS, INC.
    $.01 par common

Additions to the List of Marginable OTC Stocks

ACSYS, INC.
    No par common
ADVANCE FINANCIAL BANCORP.
    $.10 par common
ALLERGAN SPECIALTY THERAPEUTICS, INC.
    Class A, $.01 par common
ALTAIR INTERNATIONAL, INC.
    No par common
AMBASSADOR BANK OF THE COMMONWEALTH
    $4.00 par common
AMERICAN CHAMPION ENTERTAINMENT, INC.
    $.0001 par common
AMERICAN DENTAL PARTNERS, INC.
    $.01 par common
AMERICAN SAFETY INSURANCE GROUP, LTD.
    $.01 par common
ANNAPOLIS NATIONAL BANCORP, INC.
    $.01 par common
ANNUITY AND LIFE RE HOLDINGS, LTD.
    $1.00 par common
ARTISAN COMPONENTS, INC.
    $.001 par common
ASHA CORPORATION
    $.0001 par common
ASSOCIATED MATERIALS INCORPORATED
    $.0025 par common
ASTROPOWER, INC.
    $.01 par common
ATLANTIC GULF COMMUNITIES CORPORATION
    Warrants Series A, (expire 06-23-2004)
    Warrants Series B, (expire 06-23-2004)
    Warrants Series C, (expire 06-23-2004)
ATLANTIC PHARMACEUTICALS, INC.
    $.001 par common
ATLANTIC REALTY TRUST
    Shares of beneficial interest
AVIATION GROUP, INC.
    $.01 par common
BANK RHODE ISLAND
    $1.00 par common
BIG BUCK BREWERY & STEAKHOUSE, INC.
    $.01 par common
BIRNER DENTAL MANAGEMENT SERVICES, INC.
    No par common
BMJ MEDICAL MANAGEMENT, INC.
    $.001 par common
BNC MORTGAGE, INC.
    $.001 par common
BOLLE, INC.
    $.01 par common
BROKLINE BANCORP, INC.
    $.01 par common
C & F FINANCIAL CORPORATION
    $1.00 par common
CAPITAL AUTOMOTIVE REIT
    Shares of beneficial interest
CAREER EDUCATION CORPORATION
    $.01 par common
CAVALRY BANCORP, INC.
    No par common
CCA COMPANIES, INC.
    $.001 par common
CENTURY BANCSHARES, INC.
    $1.00 par common
COAST FEDERAL LITIGATION CONTINGENT PAYMENT RIGHTS TRUST
    Contingent Payment Rights
COLONY BANKCORP, INC.
    $10.00 par common
COLUMBIA FINANCIAL OF KENTUCKY, INC.
    No par common
COLUMBIA SPORTSWEAR COMPANY
    No par common
COMMNET CELLULAR, INC.
    $.001 par common
COMPASS INTERNATIONAL SERVICES CORPORATION
    $.01 par common
COMPLETE BUSINESS SOLUTIONS, INC.
    No par common
CONDOR TECHNOLOGY SOLUTIONS, INC.
    $.01 par common
COWLITZ BANCORPORATION
    No par common
CULTURALACCESS WORLDWIDE, INC.
    $.01 par common
CURAGEN CORPORATION
    $.01 par common
CYTOCLONAL PHARMACEUTICS, INC.
    $.01 par common
DECOMA INTERNATIONAL, INC.
    Class A, common shares
DISPATCH MANAGEMENT SERVICES CORPORATION
    $.01 par common
DOCUCORP INTERNATIONAL, INC.
    $.01 par common
DOUBLECLICK, INC.
    $.001 par common
DRYPERS CORPORATION
    $.001 par common
DURA AUTOMOTIVE SYSTEMS, INC.
    Convertible Trust Preferred
E-NET, INC.
    $.01 par common
EARTHSHELL CORPORATION
    $.01 par common
EDAC TECHNOLOGIES CORPORATION
    $.0025 par common
  
ELCOTEL, INC.

[[Page 23198]]

    Redeemable warrants
ELDER-BEERMAN STORES CORPORATION, THE
    No par common
ENERGYSOUTH, INC.
    $2.50 par common
ESQUIRE COMMUNICATIONS, LTD.
    $.01 par common
EXODUS COMMUNICATIONS
    $.001 par common
EXTENDED SYSTEMS INCORPORATED
    $.001 par common
FIDELITY BANKSHARES, INC.
    Trust preferred securities
FIRST CONSULTING GROUP, INC.
    $.001 par common
FIRST SOUTH AFRICA CORPORATION
    $.01 par common
FLAGSTAR BANCORP, INC.
    Class A, preferred
FLORAFAX INTERNATIONAL, INC.
    $.01 par common
FORSOFT, LTD.
    Ordinary shares (ISL .001)
FRONTIER FINANCIAL CORPORATION
    No par common
GASTON FEDERAL BANCORP, INC.
    $1.00 par common
GB FOODS CORPORATION
    $.08 par common
GENESIS MICROCHIP, INC.
    No par common
GETTY IMAGES, INC.
    $.01 par common
  
GLOBAL TELESYSTEMS GROUP, INC.
    $.10 par common
GRAND COURT LIFESTYLES, INC.
    $.01 par common
GST TELECOMMUNICATIONS, INC.
    No par common
GULF WEST BANKS, INC.
    No par common
HAWKER PACIFIC AEROSPACE
    No par common
HEADLANDS MORTGAGE COMPANY
    No par common
HENLEY HEALTHCARE, INC.
    $.01 par common
HERBALIFE INTERNATIONAL, INC.
    DECS Trust III
HERITAGE BANCORP, INC. (South Carolina)
    $.01 par common
HOLLIS-EDEN PHARMACEUTICALS
    $.01 par common
HOME LOAN FINANCIAL CORPORATION
    No par common
HOPFED BANCORP, INC. (Kentucky)
    $.01 par common
  
HORIZON MEDICAL PRODUCTS, INC.
    $.001 par common
HORIZON OFFSHORE, INC.
    $1.00 par common
ICON CMT CORPORATION
    $.001 par common
INDEPENDENCE COMMUNITY BANK CORPORATION
    $.01 par common
INDIGO AVIATION AKIEBOLAG
    American Depositary Shares
INDUSTRIAL HOLDINGS, INC.
    Series D, warrants (expire 01-14-2000)
INFORMATION ANALYSIS INCORPORATED
    $.01 par common
INTERNATIONAL BANCSHARES CORPORATION
    $1.00 par common
INTERNATIONAL FIBERCOM, INC.
    No par common
INVESTORS REAL ESTATE TRUST
    No par shares of beneficial interest
ISOMET CORPORATION
    $1.00 par common
ISS GROUP, INC.
    $.001 par common
  
JAMESON INNS, INC.
    Series A, preferred
JPS TEXTILE GROUP
    $.01 par common
LADISH CO., INC.
    $.01 par common
LEVEL 3 COMMUNICATIONS, INC.
    $.01 par common
LJL BIOSYSTEMS, INC.
    $.001 par common
LUNDIN OIL AB
    Global Depositary Receipts (.50 SEK)
MARKET FINANCIAL CORPORATION
    No par common
MERCURY COMPUTER SYSTEMS
    $.01 par common
MICROMUSE, INC.
    $.01 par common
MIDWEST BANC HOLDINGS, INC.
    $.01 par common
MILLENIUM SPORTS MANAGEMENT, INC.
    Warrants (expire 06-30-1998)
MILLER EXPLORATION COMPANY
    $.01 par common
MTI TECHNOLOGY CORPORATION
    $.001 par common
MULTIMEDIA GAMES, INC.
    Class A warrants (expire 11-12-2001)
NANOGEN, INC.
    $.001 par common
NARA BANK NATIONAL ASSOCIATION
    $3.00 par common
NATIONAL CITY BANCSHARES, INC. (Indiana)
    Cumulative Trust Preferred
<a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="8ec0cbdaa0cccec0c5">[email protected]</a>, INC.
    $.01 par common
NORTH AMERICAN SCIENTIFIC, INC.
    $.01 par common
NORTH VALLEY BANCORP
    No par common
NORTHERN BANK OF COMMERCE
    $1.00 par common
NORWOOD FINANCIAL CORPORATION
    $.10 par common
NUTMEG FEDERAL SAVINGS & LOAN ASSOCIATION
    $.005 par common
NUTRACEUTICAL INTERNATIONAL CORPORATION
    $.01 par common
OMEGA WORLDWIDE, INC.
    $.10 par common
ON STAGE ENTERTAINMENT, INC.
    $.01 par common
ONLINE SYSTEM SERVICES, INC.
    No par common
OPTELECOM, INC.
    $.03 par common
PAULSON CAPITAL CORPORATION
    No par common
PC CONNECTION, INC.
    $.01 par common
PENN OCTANE CORPORATION
    $.01 par common
PENNSYLVANIA MANUFACTURERS CORPORATION
    $5.00 par common
PITTSBURGH HOME FINANCIAL CORPORATION
    8.56% cumulative trust preferred
PIZZA INN, INC.
    $.01 par common
PROVINCE HEALTHCARE COMPANY
    $.01 par common
QUEEN SAND RESOURCES, INC.
    $.0015 par common
REPUBLIC BANKING CORPORATION OF FLORIDA
    $.01 par common
RICHMOND COUNTY FINANCIAL CORPORATION
    $.01 par common
ROYAL OLYMPIC CRUISE LINES, INC.
    $.01 par common
SECOND NATIONAL FINANCIAL CORPORATION
    $2.50 par common
SHIRE PHARMACEUTICALS GROUP, PLC
    American Depositary Shares
SHOE PAVILION, INC.
    $.001 par common
SI TECHNOLOGIES, INC.
    $.01 par common
SMED INTERNATIONAL, INC.
    No par common
SMITH CORONA CORPORATION
    $.001 par common
SONOSIGHT, INC.
    $.01 par common
SOUTH UMPQUA STATE BANK
    $.833 par common
SOUTHBANC SHARES, INC.
    $.01 par common
SPORTSMAN'S GUIDE, INC., THE
    $.01 par common
STERLING FINANCIAL CORPORATION (Pennsylvania)
    $5.00 par common
STEVEN MYERS & ASSOCIATES, INC.
    No par common
SUNPHARM CORPORATION
    $.0001 par common
SURMODICS, INC.
    $.05 par common
SYMPHONIX DEVICES, INC.
    $.001 par common
TRANSGENE S.A.
    American Depositary Receipts
UNITED INVESTORS REALTY TRUST
    No par common
UNIVERSAL DISPLAY CORPORATION
    $.10 par common
USN COMMUNICATIONS, INC.
    $.01 par common
VERISIGN, INC.
    $.001 par common
VIAGRAFIX CORPORATION
    $.01 par common
VISUAL NETWORKS, INC.
    $.01 par common
VYSIS, INC.
    $.001 par common
WEBSTER FINANCIAL CORPORATION
    Series B, 8.625% cumulative redeemable preferred
WILLIAMS INDUSTRIES, INC.

[[Page 23199]]

    $.01 par common
WILSHIRE REAL ESTATE INVESTMENT TRUST, INC.
    $.01 par common

Deletions From the Foreign Margin List

Australia

AAPC LIMITED
    Ordinary shares, par A$0.50
ICI AUSTRALIA LIMITED
    Ordinary shares, par A$1.00

Brazil

BRASMOTOR S.A.
    No par preferred
COMPANHIA SIDERURGICA BELGO MINEIR
    No par common
COMPANHIA SIDERURGICA BELGO MINEIR
    No par non-voting, preferred
COMPANHIA SIDERURGICA TUBARAO
    No par non-voting, Preferred B
COMPANHIA VIDRARIA SANTA MARINA ON
    No par common
LIGHT SERVICIOS DE ELECTRICIDADE S.A.
    No par common

Canada

DOMINION TEXTILE INC.
    No par common
NORCEN ENERGY RESOURCES LIMITED
    No par Subordinate-voting

France

BERTRAND FAURE SA
    Ordinary shares, par 5 French
CETELEM SA
    Ordinary shares, par 45 French
COMPAGNIE BANCAIRE SA
    Ordinary shares, par 100 French

Germany

ADIDAS AG
    Bearer shares par DM 50
VICTORIA HOLDING AG
    Registered Shares, par DM 50

Japan

AMADA METRECS CO., LTD.
    <yen> 50 par common
AOKI INTERNATIONAL CO., LTD
    <yen> 50 par common
ASAHI DIAMOND INDUSTRIAL CO., LTD.
    <yen> 50 par common
COSMO SECURITIES CO., LTD.
    <yen> 50 par common
DAIICHI CORP.
    <yen> 50 par common
DAIKEN CORP.
    <yen> 50 par common
GREEN CROSS CORPORATION
    <yen> 50 par common
HEIWADO CO., LTD.
    <yen> 50 par common
HOKKAIDO BANK, LTD.
    <yen> 50 par common
HOKKOKU BANK, LTD.
    <yen> 50 par common
IZUMI CO., LTD.
    <yen> 50 par common
KANKAKU SECURITIES CO., LTD.
    <yen> 50 par common
KAYABA INDUSTRY CO., LTD.
    <yen> 50 par common
KENWOOD CORP.
    <yen> 50 par common
KOA OIL CO., LTD.
    <yen> 50 par common
KYODO PRINTING CO., LTD.
    <yen> 50 par common
MARUETSU INC.
    <yen> 50 par common
MITSUBISHI CABLE INDUSTRIES, LTD.
    <yen> 50 par common
MITSUI REAL ESTATE SALES CO., LTD.
    <yen> 50 par common
NORITZ CORP.
    <yen> 50 par common
OKAMOTO INDUSTRIES, INC.
    <yen> 50 par common
OKASAN SECURITIES CO., LTD.
    <yen> 50 par common
RENGO CO., LTD.
    <yen> 50 par common
S X L CORP.
    <yen> 50 par common
SANKYO ALUMINIUM INDUSTRY CO., LTD.
    <yen> 50 par common
SHINMAYWA INDUSTRIES, LTD.
    <yen> 50 par common
SS PHARMACEUTICAL CO., LTD.
    <yen> 50 par common
TADANO, LTD.
    <yen> 50 par common
TOAGOSEI CO. LTD.
    <yen> 50 par common
TOKYOTOKEIBA CO., LTD.
    <yen> 20 par common
TOYO COMMUNICATION EQUIPMENT CO.,
    <yen> 50 par common
TOYO ENGINEERING CORP.
    <yen> 50 par common
TOYO EXTERIOR CO., LTD.
    <yen> 50 par common
TOYOTA AUTO BODY CO., LTD.
    <yen> 50 par common
UNIDEN CORP.
    <yen> 50 par common
WAKO SECURITIES CO., LTD.
    <yen> 50 par common

Norway

STORLI ASA
    B Ordinary Common, par 10 Norwegian
STORLI ASA
    A Ordinary Common, par 10 Norwegian

South Africa

KLOOF GOLD MINING COMPANY LIMITED
    Ordinary shares, par 0.25 South

Spain

SOCIEDAD ESPANOLA DE CARBUROS
    Bearer shares, par 1000 pesetas

United Kingdom

ALLIED COLLOIDS GROUP PLC
    Ordinary shares, par 10 p
BURTON GROUP PLC, THE
    Ordinary shares, par 10 p
KWIK SAVE GROUP PLC
    Ordinary shares, par 10 p
REUTERS HOLDINGS PLC
B Ordinary, par 2.5 p
T & N PLC
    Ordinary shares, par L1
VENDOME LUXURY GROUP PLC
    Ordinary shares, par 10 p

Additions to the Foreign Margin List

Australia

ORICA LIMITED
    Ordinary shares, par A$1.00

Brazil

COMPANHIA SIDERURGICA TUBARAO ON
    B preferred shares
COMPANHIA SIDERURGICA TUBARAO PN
    Preferred B shares
LIGHT SERVICIOS DE ELECTRICIDADE
    No par common

Denmark

RATIN A/S
    Series B, par 1 Danish krone
RATIN A/S
    Series A, par 1 Danish krone

Germany

ADIDAS--SALOMON AG
    Bearer shares, par DM 50
ERGO VERSICHERUMGS GRUPPE
    Ordinary shares, par DM 5

Greece

ALPHA CREDIT BANK, S.A.
    Common registered, par Greek
ALUMINIUM CO. OF GREECE, S.A.
    Common registered, par US$27.50
  
ALUMINIUM CO. OF GREECE, S.A.
    Preference, par Greek drachmas 700
ASPIS PRONIA GENERAL INSURANCES,
    Common registered, par Greek
ATHENS MEDICAL CENTER, S.A.
    Common registered, par Greek
ATTICA ENTERPRISES, S.A.
    Common, par Greek drachmas 200
BANK OF PIRAEUS, S.A.
    Common registered, par Greek
CHIPITA INTERNATIONAL, S.A.
    Common bearer, par Greek drachmas
COMMERCIAL BANK OF GREECE
    Common registered, par Greek
DELTA DAIRY, S.A.
    Common, par Greek drachmas 200
DELTA DAIRY, S.A.
    Preferrence, par Greek drachmas 200
ELAIS OLEAGINOUS PRODUCTION, S.A.
    Common, par Greek drachmas 575
ELVAL ALUMINUM PROCESS CO., S.A.
    Common bearer, par Greek drachmas
ERGO BANK, S.A.
    Common registered, par Greek
ETHNIKI GENERAL INSURANCE CO., S.A.
    Common registered, par Greek
GOODYS, S.A.
    Common bearer, par Greek drachmas
HALKOR, S.A.
    Common bearer, par Greek drachmas
HELLAS CAN-PACKAGING MANUFACTURERS,
    Common, par Greek drachmas 300
HELLENIC BOTTLING CO., S.A.
    Common bearer, par Greek drachmas
HELLENIC SUGAR INDUSTRY, S.A.
    Common bearer, par Greek drachmas
HELLENIC TELECOM ORGANIZATION, S.A.
    Common registered, par Greek
HERACLES GENERAL CEMENT CO.
    Common registered, par Greek
INTRACOM, S.A.
    Preference registered, par Greek
INTRACOM, S.A.
    Common registered, par Greek
INTRASOFT, S.A.

[[Page 23200]]

    Common registered, par Greek
IONIAN & POPULAR BANK OF GREECE,
    Common registered, par Greek
MICHANIKI, S.A.
    Common registered, par Greek
MICHANIKI, S.A.
    Preference registered, par Greek
MYTILINEOS HOLDINGS, S.A.
    Common bearer, par Greek drachmas
N.I.B.I.D. (NATIONAL INVESTMENT BANK
    Common registered, par Greek
N.I.B.I.D. (NATIONAL INVESTMENT BANK
    Preference registered, par Greek
NATIONAL BANK OF GREECE
    Common registered, par Greek
NATIONAL MORTGAGE BANK, S.A.
    Common registered, par Greek
PAPASTRATOS CIGARETTE CO., S.A.
    Common, par Greek drachmas 200
SILVER & BARYTE ORES MINING CO.,
    Common bearer, par Greek drachmas
TITAN CEMENT CO.
    Preference registered, par Greek
TITAN CEMENT CO.
    Common registered, par Greek

Italy

BANCA DI ROMA, SPA
    Ordinary shares, par 500 lira

Mexico

GRUPO MODELO S.A.
    Class C, no par common
TELEVISION AZTECA S.A. (CPO)
    No par common
TUBOS DE ACERO MEXICO S.A.
    No par common

Norway

ODFJELL ASA
    B Ordinary shares, par 10 Norwegian
ODFJELL ASA
    A Ordinary shares, par 10 Norwegian

Portugal

BANCO ESPINTO SANTO E COMERCIAL DE
    Registered, par ESC 1,000
BANCO MELLO, S.A.
    Registered, par ESC 1,000
BANCO TOTTA & ACORES, S.A.
    Registered, par ESC 1,000
BCP (BANCO COMERCIAL PORTUGUES)
    Registered, par ESC 1,000
BPI-SGPS (BANCO PORTUGEUES DE)
    Registered, par ESC 1,000
BRISA (AUTO-ESTRADAS DE PORTUGAL)
    Registered, par ESC 1,000
CIMPOR (CIMENTOS DE PORTUGAL)
    Registered, par ESC 1,000
COMPANHIA DE SEGUROS TRANQUILIDADE
    Registered, par ESC 1,000
CREDITO PREDIAL PORTUGUESE, S.A.
    Registered, par ESC 1,000
EDP (ELECTRICIDADE DE PORTUGAL),
    Registered, par ESC 1,000
INPARSA (Industrial Participacoes)
    Ordinary, par ESC 1,000
JERONIMO MARTINS (ESTABELECIMENTOS)
    Ordinary, par ESC 1,000
PORTUCEI INDUSTRIAL, S.A.
    Registered, par ESC 1,000
PORTUGAL TELECOM, S.A.
    Registered, par ESC 1,000
SEMAPA, S.A.
    Ordinary, par ESC 1,000
SONAE INDUSTRIA, S.A.
    Ordinary, par ESC 1,000
SONAE INVESTIMENTOS (SOCIETE)
    Ordinary, par ESC 1,000
TELECEL COMMUNICACOES PESSOAIS
    Ordinary, par ESC 1,000

Singapore

INCHCAPE MOTORS, LTD.
    Ordinary shares, par S$.50

South Africa

GOLD FIELDS, LIMITED
    Ordinary shares, par .01 South

United Kingdom

DEBENHAMS PLC
    Ordinary shares, par 10 p
REUTERS GROUP PLC
    Ordinary shares, par 25 p

    By order of the Board of Governors of the Federal Reserve 
System, acting by its Director of the Division of Banking 
Supervision and Regulation pursuant to delegated authority (12 CFR 
265.7(f)(10)), April 22, 1998.
William W. Wiles,
Secretary of the Board.
[FR Doc. 98-11221 Filed 4-27-98; 8:45 am]
BILLING CODE 6210-01-P


</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>