Most securities underwriters prefer big public offerings (on which they can bank big fees) over small ones. But there is a smattering of firms for which offerings in the $3-million-to-$8-million range are bread and butter. A recent breakdown of underwriters that had managed initial public offerings of less than $10 million, by Securities Data in Newark, turned up some unfamiliar names. Below are underwriters that have managed three or more issues in the two-year period through last fall, with the average dollar value of the issues.

Company No. of issues Avg. value
Laidlaw Equities;
New York City 7 issues $6.6 million212-949-5400

Whale Securities; New York City 7 issues $6.5 million212-484-2000

John G. Kinnard & Co.; Minneapolis 7 issues $5.4 million612-370-2700

Reich & Co.; New York City 5 issues $6.5 million212-527-2900

A.S. Goldmen & Co.; New York City 5 issues $5.9 million212-742-8500

Dain Bosworth; Minneapolis 4 issues $7.4 million612-371-2800

Paragon Capital; New York City 4 issues $4.6 million212-742-1500

GKN Securities; New York City 3 issues $8.3 million212-509-3800

Advest; Hartford, Conn. 3 issues $7.3 million203-241-2177

Cruttenden & Co.; Irvine, Calif. 3 issues $6.8 million714-757-5700

* * *