J8 Globe, 1972 COMMITTEE ON THE JUDICIARY EMANUEL CELLER, New York, Chairman MICHAEL A. FEIGHAN, Ohio WILLIAM M. MCCULLOCH, Ohio PETER W. RODINO, JR., New Jersey RICHARD H. POFF, Virginia BYRON G. ROGERS, Colorado CLARK MACGREGOR, Minnesota HAROLD D. DONOHUE, Massachusetts EDWARD HUTCHINSON, Michigan JACK BROOKS, Texas ROBERT MCCLORY, Illinois JOHN DOWDY, Texas HENRY P. SMITH III, New York ROBERT W. KASTENMEIER, Wisconsin THOMAS J. MESKILL, Connecticut DON EDWARDS, California CHARLES W. SANDMAN, JR., New Jersey WILLIAM L, HUNGATE, Missouri TOM RAILSBACK, Illinois JOHN CONYERS, JR., Michigan EDWARD G. BIESTER, JR., Pennsylvania ANDREW JACOBS, JR., Indiana CHARLES E. WIGGINS, California JOSHUA EILBERG, Pennsylvania DAVID W. DENNIS, Indiana WILLIAM F. RYAN, New York HAMILTON FISH, JR., New York JEROME R. WALDIE, California R. LAWRENCE COUGHLIN, Pennsylvania EDWIN W. EDWARDS, Louisiana WILEY MAYNE, Iowa Bess E. DICK, Staff Director ANTITRUST SUBCOMMITTEE EMANUEL CELLER, New York, Chairman PETER W. RODINO, JR., New Jersey WILLIAM M. MCCULLOCH, Ohio BYRON G. ROGERS, Colorado CLARK MACGREGOR, Minnesota HAROLD D. DONOHUE, Massachusetts ROBERT MCCLORY, Illinois JACK BROOKS, Texas TOM RAILSBACK, Illinois EDWARD HUTCHINSON, Michigan CONTENTS Finell, Marvin, chairman of Operating Committee, Great American Insurance Co., and general counsel, National General Corp- Klein, Eugene V., director, chairman of the board, and president, National General Corp.; accompanied by Harold A. Lipton, director, vice president, and secretary; Marvin Finnell, chairman of Operating Committee of Great American Insurance Co., and general counsel, National General Corp.; and Thomas H. Kuchel, counsel, National Kuchel. Thomas H., counsel, National General Corp. Lipton, Harold A., director, vice president, and secretary, National Documents submitted for record January 28 and 29, 1970: Table 1, National General Corp., Selected Financial Table II, National General Capitalization Ratios. Table III, National General Financial Stability Ratios.- Table IV, National General Quarterly Common Stock Prices from January 1964 through June 1969. Organization Chart, Management Structure-- Organization Chart, Subsidiary Structure. Prepared statement by Eugene V. Klein, chairman of the board and chief executive officer, National General National General Corp., list of corporations of which National General acquired or disposed of 50 percent or more of the voting stock during the period January 1, Celler, Hon. Emanuel, chairman, Committee Letter, dated February 18, 1969, to E. V. Klein, president, National General Corp., with enclosure Letter, dated May 8, 1969, to E. V. Klein, president, Letter, dated May 16, 1969, to Thomas H. Kuchel, Letter, dated June 16, 1969, to E. V. Klein, presi- dent, National General Corp., with enclosure - Letter, dated January 7, 1970, to Eugene V. Klein, chairman of the board, National General Corp---- Letter, dated January 7, 1967, to Harold A. Lipton, director, vice president and secretary, National Letter, dated January 7, 1970, to Marvin Finell, chairman of operating committee, Great American Insurance Co., and general counsel, National Letter, dated January 7, 1970, to Thomas H. Kuchel, Page 94 435 470 446 94 429 434 437 440 99 474 Additional information-Continued National General Corp.: Lipton, Harold A., general counsel, letter, dated March 24, 1969, to Hon. Thomas H. Kuchel.. May 29, 1969, to Hon. Thomas H. Kuchel.'. Gourevitch, Harry G., letter, dated July 6, 1970, to Frederick R. Jett, with enclosure dated September 24, 1969, to Edward Wein berg... Letter, dated March 26, 1969, to Hon. Emanuel Celler. Celler.. uel Celler uel Celler, with enclosure. uel Celler, with enclosure.. Emanuel Celler, with enclosure... uel Celler, with enclosures.- Letter, dated May 12, 1969, to Kenneth R. Harkins. to R. Frederick Jett, with attachment.. Frederick Jett. Frederick Jett, with enclosure.. Frederick Jett. to Hon. Emanuel Celler... companies as of January 1, 1960_ of January 1, 1969. functions have included responsibility for identification, March 9, 1961, through February 1, 1969 General Corp. and Columbia Savings & Loan Associa tion.--- and Harold A. Lipton, secretary, National General Corp., dated August 14, 1964. Directors meeting of February 18, 1964. Directors meeting of April 28, 1964. 431 442 448 450 469 428 100 102 103 104 111 125 125 125 130 Page 131 131 132 132 133 133 134 135 135 Additional information Continued Letter, dated January 23, 1964, to Messrs. Samuel Schulman, Alan May, Harold Lipton, from Eugene V. Klein. Kleiner, Bell & Co., to Samuel Schulman, president, Mission Pak, Inc.- consolidated statement of income giving effect to the calendar year 1963.- to acquire Columbia Savings & Loan Association --- National General Corp., from Robert H. Powsner, Esq., General-Columbia Savings & Loan Association... Robert H. Powsner, re National General-Columbia Savings & Loan Association. shauser, Jr., Commissioner of Corporations, Div. of Corp- Alan May, National General Corp. from Louis J. Zitnik, vice president, Mitchum, Jones & White, Weld & Co.. Jr., from Barry H. Sterling, re National General Corp- Jack M. Levy, resident manager, Dempsey-Tegeler & Co., Inc. & Co., from Barry H. Sterling, re National General Corp-Columbia Savings & Loan Association. bia S. & L. now held by National General Corp-- Savings & Loan stock with purchase offer.--- Corp., from Jerald S. Schutzbank, Wyman, Bautzer, Finell & Rotham... 1964.. meeting of stockholders to be held June 22, 1964, dated May 6, 1964. Loan Association guarantee stock, White, Weld & Co. Inc., dated October 15, 1963.. members of Superior Savings & Loan Association, Savings & Loan Association.. Article from Forbes Magazine, dated Feb. 1, 1970, “The Morning After". 136 136 137 137 138 138 138 139 141 147 168 194 52 Additional information--Continued Report of the Special Committee on Insurance Holding Page 230 Minutes of meeting of Executive Committee of the board of directors of National General Corp., dated May 28, 282 Letter, dated June 18, 1968, to William J. Lerner, Carter, Berlind & Weill, Inc., from Alan D. Alan, Carter, 282 284 Letter, dated July 3, 1968, to Thomas H. Shilson, assistant vice president, New York Stock Exchange, from 285 Letter, dated August 21, 1968, to Securities and Exchange Commission, from Richard E. Sobelle, Wyman, Bautzer, 292 Letter, dated June 12, 1968, to Harold Lipton, National General Corp., from William Lerner, counsel, Carter, 294, 295 Letter, dated June 13, 1968, to Security First National Bank, attention of Mr. John Lobas, from Haruld A. 296 296 Minutes of meeting of Executive Committee of the board of directors of National General Corp., dated June 25, 296 297 Minutes of meeting of Executive Committee of the board of directors of National General Corp., dated July 15, 298 E. Newcomb, chairman of the board, Great American 299 Press release, dated July 18, 1968 299 Press release, dated July 29, 1968, Wall Street Consul, Inc. 299 Letter, dated October 21, 1968, to George Duff, Esq., Holtzmann, Wise & Shepard, from Lionel Bell, vice 300 Letter, dated October 21, 1968, to Lionel Bell, from Bernard R. Kaufman.. 300 Letter, dated September 2, 1968, to Carter, Berlind & Weill, Inc., from Eugene V. Klein. 300 Excerpts from August 20, 1968, notice of special meeting of stockholders to be held September 10, 1968, and at- 301 Letter, dated October 9, 1968 from Stephen D. Silbert, Wyman, Bautzer, Finell & Rothman to Bernard 317 Letter, dated September 18, 1968, to Carter, Berlind & Weill, Inc., from president, National General Corp-- 318 Weill, Inc., attention William Lerner, from Harold A. 319 320 Letter, dated June 25, 1969, to Hon. Emanuel Celler, from Arthur Levitt, Jr., re Cogan, Berlind, Weill & Levitt, 328 |