1938

6/30/1938: Trust Securities valued at $369,864 ; market value, cost $449,524

NAV per participation, 8/17/38 : $ 14,868 (230 Stock Units)


Corporate Leaders Trust Certificates A: NA

Distribution (1938): $ 0.46715


Lexington Corporate Leaders Trust Fund was created 11/18/35 as Corporate Leaders Trust Fund Certificates, Series B.  Series A scheduled to terminate 11/30/1975.

Maintenance fee of  .08333% per month of market value of Trust Fund.

$0.30 distribution fee; no J&D distributions under $1.00; fee waived for all reinvested distributions.
Termination fee $10.; convertibility fee $10.
Issuance fee $75 (any number of certificates) deductible from initial payment(s)
Annual fee $3.60; Accounts over $1,000 on 12/1 of any year not charged annual fee.
Service fee (front load) on par value of participation (certificates issued) 
5% on first $3,000.
3.5% on next $9,000.
2% on anything more ($12,000.)
Insurance premium $1.10/mo per $1,000 unpaid balance 
Trustee must purchase stock in units of 30.
U.S. Steel
DuPont
General Electric
Allied Chemical
International Harvester
Union Carbide & Carbon
American Tobacco, B
Westinghouse Electric
Sears, Roebuck
American Radiator
American Can
Borden
Woolworth
Eastman Kodak
Proctor &Gamble
National Biscuit
Otis Elevator

American Telegraph and Telephone
Consolidated Gas (NY)
North American Co.
United Gas Improvement
Columbia Gas & Electric
Pacific Gas & Electric Co.

Standard Oil (NJ)
Socony-Vacum Corp.
Standard Oil (CA)

Pennsylvania R.R.
New York Central
Atchison
Union Pacific





Citation: A Century of Stock Market Liquidity and Trading Costs, Charles M. Jones, Columbia Business School - Finance and Economics: May 23, 2002 (Appendix 2)

10/30/24 to 1/3/38
Share price                             Minimum commission per 100 shares
$1 to $9.875                           $7.50
$10 to $99.875                      $12.50 + 0.1% of amount traded, rounded down to the nearest $2.50
$100 to $199.875                  $25
$200 and over                       $10 + 0.1% of amount traded, rounded down to the nearest $5

January 3, 1938 to March 16, 1942
Share price                             Minimum commission per 100 shares
$1 to $10                                 $4 + 1% of amount traded
Over $10                                 $13 + 0.1% of amount traded, rounded down to the nearest $1.00

1937

1/30/1937: Trust Securities valued at $223,456 ; market value $207,835

NAV per participation, 12/31/36 : $ 19,862

Distribution (1937): $ 0.53305

Lexington Corporate Leaders Trust Fund was created 11/18/35 as Corporate Leaders Trust Fund Certificates, Series A scheduled to terminate 11/30/1975.

Maintenance fee of  .08333% per month of market value of Trust Fund.

$0.30 distribution fee; no J&D distributions under $1.00; fee waived for all reinvested distributions.
Termination fee $10.; convertibility fee $10.
Issuance fee $75 (any number of certificates) deductible from initial payment(s)

Annual fee $3.60; Accounts over $1,000 on 12/1 of any year not charged annual fee.
Service fee (front load) on par value of participation (certificates issued)

Trustee must purchase stock in units of 30.
U.S. Steel
DuPont
General Electric
Allied Chemical
International Harvester
Union Carbide & Carbon
American Tobacco, B
Westinghouse Electric
Sears, Roebuck
American Radiator
American Can
Borden
Woolworth
Eastman Kodak
Proctor &Gamble
National Biscuit
Otis Elevator

American Telegraph and Telephone
Consolidated Gas (NY)
North American Co.
United Gas Improvement
Columbia Gas & Electric
Pacific Gas & Electric Co.

Standard Oil (NJ)
Socony-Vacum Corp.
Standard Oil (CA)

Pennsylvania R.R.
New York Central
Atchison
Union Pacific



Citation: A Century of Stock Market Liquidity and Trading Costs, Charles M. Jones, Columbia Business School - Finance and Economics: May 23, 2002 (Appendix 2)

10/30/24 to 1/3/38
Share price                             Minimum commission per 100 shares
$1 to $9.875                           $7.50
$10 to $99.875                      $12.50 + 0.1% of amount traded, rounded down to the nearest $2.50
$100 to $199.875                  $25
$200 and over                       $10 + 0.1% of amount traded, rounded down to the nearest $5

1936

Lexington Corporate Leaders Trust Fund was created 11/18/35 as Corporate Leaders Trust Fund Certificates, Series A, scheduled to terminate 11/30/1975. Series B was created in 1944.

Moody's 1938: "payments to be made thereon over a period of 20 years at the rate of $15. or more per month. Payments may be made monthly, quarterly, semi-annually or annually.


Issuance fee $75 (any number of certificates) deductible from initial payment(s)
Annual fee $3.60; Accounts over $1,000 on 12/1 of any year not charged annual fee.
Service fee (front load) on par value of participation (certificates issued) 5%.


Maintenance fee of  .08333% per month of market value of Trust Fund.

$0.30 distribution fee; no J&D distributions under $1.00; fee waived for all reinvested distributions.
Termination fee $10.; convertibility fee $10.


Distribution (J 1936): $ 0.027583, (D 1936): $ 0.17.71305

NAV $19,862




Citation: A Century of Stock Market Liquidity and Trading Costs, Charles M. Jones, Columbia Business School - Finance and Economics: May 23, 2002 (Appendix 2)

10/30/24 to 1/3/38
Share price                             Minimum commission per 100 shares
$1 to $9.875                           $7.50
$10 to $99.875                      $12.50 + 0.1% of amount traded, rounded down to the nearest $2.50
$100 to $199.875                  $25
$200 and over                       $10 + 0.1% of amount traded, rounded down to the nearest $5

1935

Lexington Corporate Leaders Trust Fund was created 11/18/35 as Corporate Leaders Trust Fund Certificates, Series A, scheduled to terminate 11/30/1975. Series B was created in 1944.

Moody's 1938: "payments to be made thereon over a period of 20 years at the rate of $15. or more per month. Payments may be made monthly, quarterly, semi-annually or annually.

Issuance fee $75 (any number of certificates) deductible from initial payment(s)

Annual fee $3.60; Accounts over $1,000 on 12/1 of any year not charged annual fee.

Service fee (front load) on par value of participation (certificates issued) 5%.

Maintenance fee of  .08333% per month of market value of Trust Fund.

$0.30 distribution fee; no J&D distributions under $1.00; fee waived for all reinvested distributions.
Termination fee $10.; convertibility fee $10.


Trustee must purchase stock in units of 30.
U.S. Steel
DuPont
General Electric
Allied Chemical
International Harvester
Union Carbide & Carbon
American Tobacco, B
Westinghouse Electric
Sears, Roebuck
American Radiator
American Can
Borden
Woolworth
Eastman Kodak
Proctor &Gamble
National Biscuit
Otis Elevator

American Telegraph and Telephone
Consolidated Gas (NY)
North American Co.
United Gas Improvement
Columbia Gas & Electric
Pacific Gas & Electric Co.

Standard Oil (NJ)
Socony-Vacum Corp.
Standard Oil (CA)

Pennsylvania R.R.
New York Central
Atchison
Union Pacific


Citation: A Century of Stock Market Liquidity and Trading Costs, Charles M. Jones, Columbia Business School - Finance and Economics: May 23, 2002 (Appendix 2)

10/30/24 to 1/3/38
Share price                             Minimum commission per 100 shares
$1 to $9.875                           $7.50
$10 to $99.875                      $12.50 + 0.1% of amount traded, rounded down to the nearest $2.50
$100 to $199.875                  $25
$200 and over                       $10 + 0.1% of amount traded, rounded down to the nearest $5

1934

Citation: A Century of Stock Market Liquidity and Trading Costs, Charles M. Jones, Columbia Business School - Finance and Economics: May 23, 2002 (Appendix 2)

10/30/24 to 1/3/38
Share price                             Minimum commission per 100 shares
$1 to $9.875                           $7.50
$10 to $99.875                      $12.50 + 0.1% of amount traded, rounded down to the nearest $2.50
$100 to $199.875                  $25
$200 and over                       $10 + 0.1% of amount traded, rounded down to the nearest $5

1933

Citation: A Century of Stock Market Liquidity and Trading Costs, Charles M. Jones, Columbia Business School - Finance and Economics: May 23, 2002 (Appendix 2)

10/30/24 to 1/3/38
Share price                             Minimum commission per 100 shares
$1 to $9.875                           $7.50
$10 to $99.875                      $12.50 + 0.1% of amount traded, rounded down to the nearest $2.50
$100 to $199.875                  $25
$200 and over                       $10 + 0.1% of amount traded, rounded down to the nearest $5

1932

Citation: A Century of Stock Market Liquidity and Trading Costs, Charles M. Jones, Columbia Business School - Finance and Economics: May 23, 2002 (Appendix 2)

10/30/24 to 1/3/38
Share price                             Minimum commission per 100 shares
$1 to $9.875                           $7.50
$10 to $99.875                      $12.50 + 0.1% of amount traded, rounded down to the nearest $2.50
$100 to $199.875                  $25
$200 and over                       $10 + 0.1% of amount traded, rounded down to the nearest $5