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PLAINTIFF'S EXHIBIT K-1758 MOODY'S MANUAL OF INVESTMENTS AMERICAN AND FOREIGN INDUSTRIAL SECURITIES JOHN SHERMAN PORTER, Editor-in-Chief Editorial Board Daniel F. Shea Frank J. St. Clair Arthur W. Herrmann George I. Blair C. Wesley Lee David M. Ellinwood Frank J. Prendergast Max F. Brubaker 1951 COPYRIGHT, 1951, BY Moody's Investors Service, New York all. rights reserved Public Library ,JUL 9 1951 Dallas Texas MOODY'S INVESTORS SERVICE 65 BROADWAY, NEW YORK 6, N. Y. PHILADELPHIA BOSTON CHICAGO LOS ANGELES PITTSBUBGH SAN FRANCISCO 1411 Walnut St. 75 Federal St. 105 W. Adams St. Hollingsworth Bldg. Union Trust Bldg. Russ Bldg. LONDON: MOODY'S INVESTORS SERVICE, LTD. Xj X*d Consent of 66 2/3% of preferred necessary to DIVIDEND RECORD-- 3. American Airlines, Inc. employees stock; (1) create any.stock ranking prior to pre On $10 par shares: par $1: ferred. or (2) amend or repeal provisions In a manner prejudicial to preferred (consent only of 66 2/3% of any series affected is required). LIQUIDATION RIGHTS--In any liquidation, entitled to $100 per share and accrued divi dends. ___ PREEMPTIVE RIGHTS--None. 1934-39 nn 1940 $1.00 1941-43 $1.50 On $5 par shares: 1944-45 $1.00 1946 ni) On $1 par shares: 1946-49 nil 1950... 0.25 DIVIDEND RESTRICTIONS--See debenture 3s. 1956 and 3^4% preferred, above. AUTHORIZED--500,000 shares; outstanding, Dec. 31. 1950, none; par $1. CONVERTIBLE--At option of holder, at any time after three full years from original Issu ance of stock ,to the holder into common stock, share for share. CONVERTIBLE--Into common at any time VOTING RIGHTS--One vote per share. OTHER PROVISIONS--Employees stock has prior to redemption at $21 per share, with no PREEMPTIVE RIGHTS--None. same dividend rights, voting rights and rights adjustment lor dividends and scrip for frac LISTED--New York and Midwest Stock Ex upon liquidation as appertain to common tional shares. Conversion rights protected changes. Unlisted trading on Boston, Cin stock. against dilution. CALLABLE--As a whole or in part on 30 days' notice on any dividend date to each June 1, incl- as follows: 1951. $104; 1956. $103; and thereafter. $102 per share and dividends. Shares redeemed to be cancelled. ADDITIONAL PREFERRED--May be issued in series with provisions as fixed by directors subject to prescribed limitations. cinnati, Detroit, Los Baltimore and San changes. Angeles, PhiladelphiaFrancisco Stock Ex Stock is offered to officers and other em ployees at a price not less than greater of book value or par value of common stock. DIVIDEND DISBURSING AGENT--Schroder Trust Co.. New York. TRANSFER AGENTS--Schroder Trust Co.. New York, and Continental Illinois National Bank & Trust Co., Chicago. STOCK OPTION PLAN--In Dec.. 1944. stock holders authorized a stock option plan In accordance with which options may be granted upon employees stock to officers and other employees entitling them to purchase their PURPOSE--See debenture 3s, due 1966, above. REGISTRARS--Guaranty Trust Co., New allotted shares of employees stock over a 3- LISTED--On New York Stock Exchange. York, and First National Bank, Chicago. year period while remaining in corporation's OFFERED--(40.000 shares) at $102 per share (proceeds to company, $100 per share) on June 11, 1946 by a syndicate headed by Kidder, Peabody Co.. Lehman Brothers. Glore, Forgan Co., and Emanuel, Deetjen & Co.. New York. TRANSFER AGENT--Chase National Bank. New York. REGISTRAR--Guaranty Trust Co.. New York. 2. American Airlines! Inc. common stock; par $1: AUTHORIZED--12,000,000 shares (Increased from 500,000 shares May 4, 1938, from 1,000,000 shares Dec. 6. 1944 and from 2,400.000 shares Anr. 17. 1946): issued and outstanding. Dec. 31, 1950, 6,452,835 shares; reserved for conver sion of preferred, 1,904,762 shares; reserved for warrants, 250,000 shares; par $1 (changed from $10 par Dec. 6, 1944, two $5 shares issued for each $10 share; and from $5 par Apr. 17, 1946. five $1 shares issued for each $5 share). ISSUED--290,072 shares (par $10) American Airlines, Inc., was transferred in Dec., 1934, to C-. R. Smith, T. J. Dunnion and J. J. Grealis, as trustee fcr the stockholders of the Aviation Corp. (now Avco Manufacturing Corp.) and was distributed to its stockholders in com pliance with the Airmail Act of 1934. Additional shares subsequently issued for cash and upon exercise of stock options and cc aversion of debentures and convertible pre ferred. OFFERED--1211,000 shares of $5 par common) at $90 per share on April 11, 1946 by a syndi cate headed by Emanuel, Deetjen & Co. and Lehman Brothers, New York. Offering did not represent company financing, the above shares were sold by Aviation Corp (now Avco Manu facturing Corp.) in compliance with an order of the CAB to reduce holdings in company to not more than 4%. employ. When stock Is acquired pursuant to options, price to be paid therefor is price fixed by committee when granting options, but in any event not less than greater of par value or book value of shares as of date when options are exercised. All options are personal and non-assignable. Stock Options: In May, 1950, stockholders authorized issuance of options expiring June 1, 1955 upon 250,000 shares of common stock at not less than $11.70 per share to a limited number of executive and similar personnel (but excluding directors who were not offi cers) of company and its subsidiaries. A com mittee of directors not eligible under plan have so far granted options in accordance with such authority to 30 executives in an aggregate amount of 143,000 shares at a price of $11.70 per share. OAPITAL 8TRUCTURK CORNING GLASS WORKS CAPITAL STOCK Par Amount Earned per Sh. Divs. per Sh. Call Issue Value Outstanding 1950 1949 1950 1949 Price 1. 3(4% cumulative pfd., 1945 series. $100 43.770 shs.\ $198.92 $75.45 ($3.50 $3.50 E102 2. 3>,4% cumulative pfd., 1947 series. 100 44.770 shs.) t 3.50 3.50 0105(4 3. Common 5 2.649,533 shs. 6.53 2.56 2.00 1.00 BTo Apr. LT954."IncI."~See text. ERange since 1945. ERange since 1947. 0To Apr. 1, 1952, incl. See text. Price Range 1950 1932-50 10214-100 E10914-88 105 -10014 E10514-86 4514- 2814 E4514-18 HISTORY Incorporated in New York Dec. 24, 1936. as a consolidation of a New York company of same name originally incorporated in 1875 and Macbeth-Evans Glass Co. incorporated in Pennsylvania in 1899. Business established In 1851 and 1869. On Sept. 12, 1945. merged Corning Realty Co., a wholly-owned subsidiary owning Corn ing Building at Fifth Ave. and 56th St., New ta Clara. Cal.. Huntingdon, Pa. and Ander sen. S C. Also see general index. Dow Corning Corp. (50% owned): Incorpo rated in Michigan in 1943 in association with Dow Chemical Co. Operates plant at Midland, Mich, for manufacture of electrical insulating resins, greases, fluids and elastomers re sembling natural or artificial rubber, ail gen erally known as silicones. BUSINESS A PRODUCT8 Danville. Ky. Plant: Being constructed in 1951 with floor area of 270,000 sq. ft. Plant is to produce bulbs and tubing. New York Office: Office building and retail store. Floor space. 18.800 sq. ft. Corning Glass Works of Canada. Ltd.: Leaside. Ont.: Ovenware and tableware. Floor space, 105.500 sq. ft Corhart Refractories Co., Louisville. Ky.: Re fractory parts. Floor space. 77,600 sq. ft York and certain realty at Corning, N. Y. SUBSIDIARIES A AFFILIATES Steuben Glass, Inc. (wholly-owned): IneorDorated in New York in 1933. Designs and distributes fine glass tableware and art glass. Corhart Refractories Co. (88.86% of voting stock owned): Organized in Delaware in 1927. Owns and operates refractories plant at Louis ville, Ky. Corning Glass Works of Canada, Ltd. Engaged in manufacture of glass products, including fluorescent, electric light, tele vision and radio bulbs, tree ornaments, tum blers. lamp chimneys, tubing, vacuum bottle liners, tableware and lighting ware, Steuben line of stemware and art glass cooking ware, laboratory ware, insulators, lantern globes, optical glass, etc. Most of company's prod ucts are sold under trade names. Coming Pyrex and Vycor. Total floor space, all plants, 3,427,800 sq. ft.. including 1,590.000 at Corning, N. Y. MANAGEMENT Officers: Amory Houghton. Chairman Glen W. Cole, Vice-Chairman William C. Decker, President George D. Macbeth, Vice-Pres. & Cont William H. Curtiss. Vice-Pres. & Secretary Charles D. LaFollette. Vice-Pres. A Trees (wholly-owned): Organized in 1945 to operate PLANT AND PROPERTIES Harry M. Hosier. Vice-President a plant, purchased from Canadian govern Main Plant: Corning, N. Y.: Chemical la ment. at Leaside. Ont., for manufacture of boratory and pharmaceutical ware; railroad, heat-resistant glassware and other special marine and aviation signal ware; thermometer products for Canadian and certain export and other tubing; Steuben art glass; coffee markets. After extensive reconversion work makers; piping: special industrial glassware; Jesse T. Littleton. Vice-President William C. Taylor, Vice-President William W. Sinclaire. Assistant Secretary Frederick H. Knight. Assistant Secretary C. H. Kruidenier, Assistant Treasurer necessary to adopt plant's facilities to glass optical war: and technical glass filters. Floor Honorary Officers making, production was started in summer of space. 948,000 sq. ft. Eugene C. Sullivan, Hon. Chairman 1946. Pressware Plant: Corning. N. Y.: Ovenware, George B. Hollister, Honorary Vice-Pres. Corning Clast Works of So. America (Cris- too-of-stove cooking utensils and television Arthur L. Day, Honorary Vice-President talerias Corning de Sud America, S. A.) iwholly-owned): Incorporated under Argen tine laws in 1942. Owns Argentinian and Chilean patents of company and 26.04% of Crlstalenas Rigolleau. Latter operates glass plant near Buenos Aires. Argentina. Also owns 22.84% oi Cristalerias de Chile, which oper ates a glass plant at Santiago, Chile, and an Interest in Cnstaleria Peldar, S. A. which oper ates in Colombia. Vidros Corning Brasil. S. A. (wholly-owned): Organized in Brazil in 1944. Owns 31% of ordinary shares of Cia Vidraria Santa Marina, Bwrhaiczhil. operates a glass plant at Sao Paulo, Pittsburgh Corning Corp. (50% owned): Or- Fao'red in Pennsylvania in 1937 in association nwnitphrnPl.cittaburgh Plate vGTla,;s*s 7C!--o.' Dwni Slid Seda 1 ia S Mn Allegheny. Pa., and aeuaJia, Mo. for manufacture of hollow glass building blocks, also ceUular glass products sold under trade name of Foamglas used in refrigeration chambers and as a flotation material. glassware. Floor space, 255.400 sq. ft. Pall Brock Plant: Corning, N. Y. (partly leased): Machine-made tubing and small bulbs. Floor space. 247.000 sq. ft. Pot and Clay Plant: Corning, N. Y.: Refrac tory and clay parts. Floor space, 68.000 sq. ft. VYCOR Plant: Corning, N. Y.: VYCOR prod ucts and warehouse. Floor space, 71.600 sq ft. welltbore. Pa- Plant: Machine-made bulbs; Christmas tree ornaments. Floor space, 305,000 sq. ft. Central Falls, R. I. Plant: Machine-made tubing, bulbs and thermos pistons. Floor space, 402.000 sq. ft. Chatleroi, Pa. Plant: Tableware, lighting ware, television bulbs, miscellaneous prod ucts. Floor space. 591.900 sq. ft. rB.rrcaUdTfUoFrdU,, rPaa.. rPil.amnt u(leeeasseeadr):: Miv, etalizing operations. Floor space. 19.100 sq. ft. tubP' ianrgkK;errcshbeumrg?.i.c..'..a.W.-l....a..n.V.d..a...apPplaanrat*tusMMMaaawcccahnhriien;e-gmaaudgee glasses; miscellaneous industrial ware. Floor space, 195,300 sq. ft. Muskogee, Okla- Plant: Heat resistant coffee Directors: Glen W. Cole, Coming. N. Y. William H. Curtiss, Corning, N. Y. W. C. Decker. Corning, N. Y. Amory Houghton. Corning, N. Y. Arthur A, Houghton. Jr.. Corning. N. Y. C. D. LaFollette. Corning, N. Y. George D. Macbeth,, Corning, N. Y. George Murnane, New York Halsey Sayies, Elmira, N. Y. Howard C. Sheperd. New York Walter Bedell Smith Eugene C. Sullivan, Coming, N. Y. Boykin C. Wright. New York Annual Meeting: Second Tuesday in Apr. Number of Stockholders: Dec. 31, 1948: Pre ferred, 770; common, 3,697. Number of Employees: Dec. 31, 1948, 10,750. Main Office: Corning, N. Y. Pension Plans: Company and certain subsid iaries have established pension plans to pro vide retirement benefits for employees. Con tributions to plans: 1950 and 1949, not stated; Owens-Corning Fiberglas Corp. (45.41% maker parts. Floor space 122.400 sq. ft. Plant 1948, $917,048; 1947, $856,133; 1946, $1,100,215 owned): Organized in Delaware in 1938 in was completed early in 1948. were charged against income. association with Owens-Illinois Glass Co Albion. Mielt. Plant: Manufactures tele Unfunded balance of past service costs Owns and operates Fiberglas plants at New vision picture tubes. Floor space, 346,000 sq. amounted to $5,406,777 after payments for ark. O.. Ashton, R. I.. Kansas City. Kans., San- ft. Plant was completed in 1950. 1950. INTRODUCTION Users of this Manual should consult the Introduction on heavy white paper in the front of this volume which contains valuable information concerning the scope of this volume. 2284 MOODY'S MANUAL OF INVESTMENTS OAPITAL STRUCTURE funded debt Issue 1.3% notes due 1968 . OWENS-ILLINOIS Rating B1___ Amount Outstanding *10,000.000 GLASS COMPANY Times Charges Earned 1950 1949 $95.74 $30.98 Interest Dates Call Price CAPITAL STOCK Issue 1. Common____ Par Value *12-SO Amount Outstanding 3.056.874 shs. Earned per Sh. 1950 1949 $7.96 $5.38 Diva, per Sh. Call 1950 1949 Price $3.25 $3.00 Q]Range since 2-for-l split in 1937; range from 1932 and to the split in 1937, 200-12. EPrivately held. Price Range m19--50 1s932~-50 Price Range 1950 1932-50 79-5714 Dl 10314-38% gHI8TORV Incorporated in Ohio, Dec. 13, 1907 as The Owens Bottle Machine Corp., successor to a New Jersey corporation of the same name, in corporated Sept. 3, 1903. Charter is perpetual. Name changed to The Owens Bottle Co. May 1,1919 and to Owens-Illinois Glass Co. Apr. 17, 1929. For subsequent acquisitions, see Moody's 1948 and 1949 Industrial Manuals. 8UB8IDIARIE8 Company is primarily an operating com pany. On Dec. 31, 1950, held 100% voting power in the following subsidiaries: lar products. Manufactures, warehouses and sells thin blown (paste mold) tumblers (Libbey Safedge and Libbey No-Nik), used as drinking glasses and as jars for packing food roducts; stemware, glassware for hotels, resturants, cafes clubs, bars and soda fountains; cut and engraved glassware. Owns Interests in natural gaa properties which supply some of the plants with fuel. Glass sand requirements are purchased prin cipally from outside interests. Also see Owens-Coming Fiberglas Corp. under "Subsidiaries" above. Company's operations are carried on through six operating divisions: Glass Con tainer Division, Libbey Glass Division, Kimble Jointly with Llbbey-Owens-Ford Glass Co (see general index), company owns gas prop erties in West Virginia, supplying fuel to the Charleston plants of both companies. On Dec. 31, 1950, total territory so owned or held under lease comprised 131,907 acres, on which there were 603 producing wells. Company has wholly-owned natural gas fields in Clarion. Pa. and Fairmont. W. Va.. having a total of 9,322 acres of gas rights owned or under lease on which there were 211 producing welsl at Dec. 31, 1950. supply ing fuel to bottle manufacturing plants at those points. MANAGEMENT Name, place of incorporation and business: Blair Vermont Plywood Co. (Vt)--Manufac tures veneer and plywood panels and office furniture. Owens Brush Co., formerly Owens Staple-Tied Brush Co. (Ohio)--Brushes. Dissolved Feb. 1. 1951. Lauterbach Corp. (Del.) --Plastic molding ma chinery American Structural Products Co.--Struc tural and insulating products and television bulbs Toledo Automatic Brush Machine Co. (Ohio) --Brush machine patent rights Glasco Products Co. (111.)--Glass products Company owns 98.281 common shares of Owens-Coming Fiberglas Corp. (see below). Owens-Coming Fiberglas Cornu Incorpo rated under Delaware laws Oct. 31, 1938, and acquired all the assets of Owens-Illinois Glass Co. and Coming Glass Works which had been devoted to production and development of glass in fibrous forms. Engaged In produc tion of "Fiberglas" materials far a unde va riety of applications. Including Insulation, dust-stop air filters, and decorative and Indus trial service fabrics. Company has developed a glass reinforced plastic that will fill many uses of steel, but also can be used for making either soft or hard fabrics. Plants at Newark, O., Kansas City, Kan., Santa Clara, Cal., Ashton, R. L, Anderson, S. C. and Huntingdon, Pa. Latter, formerly operated under lease from Defense Plant Corp., was purchased for $910,000 early In 1946. About same time purchased an unfnished plant at Kansas City. Kan., from RFC for $650,000; first unit at this plant began production in Nov. 1946. Company's new plant at Santa Clara, Cal., to supply western markets, began operations in July, 1949. Plant, located on 42-acre site, has a floor area of about 500.000 sq. ft. Company's Canadian subsidiary has plants at Sarnia and Osbawa. Ont Owens-Illinois Glass Co. and Coming Glass Works each own about 42% of common stock. BUSINE88 AND PRODUCTS Glass Division, American Coating Mills Divi sion, Kaylo Division and Export Division. Glass Container Division comprises largest part of company's business with manufactur ing plants located to serve all sections of the country with Duraglas containers, including bottles and jars. Two subdivisions have been established. Pacific Coast Division which manufactures and sells glass containers in Pacific Coast states and Closure and Plastics Division which manufactures metal and plas tic closures and related products. Libbey Glass Division comprises all tumbler, stemware and tableware. This division also operates a wholly-owned subsidiary, Sharpe. Inc. Kimble Glass Division (formerly Kimble Glass Co.) manufactures electronics glassware, graduates, test tubes, laboratory apparatus, flasks, thermometers and many other prod ucts, such as glass tubing, glass rods, ampules, vials and television bulbs. This division also operates a wholly-owned subsidiary, Glasco Products Co. American Coating Mills Division produces clay coated folding boxboard. folding cartons, folding carton displays, and paperboard specialUes. Kaylo Division carries on the manufacture and distribution of Kaylo insulating products. The Export Division handles all sales out side of the continental United States. Subsidiaries function as follows: American Structural Products Co. manufactures glass block and insulators and television bulbs. This company also operates Blair Veneer Co. and Blain Vermont Plywood Co., manufac turers of veneer and plywood panels used largely for furniture trade, a line of office desks and tables under Blair'' trade name, also manufactures sound boards for piano industry. Lauterbach Corp. supplies automatic ma chines for molding plastics. Toledo Automatic Brush Machine Co. is a small company owning United States and foreign patent rights on brush machines. PRINCIPAL PLANT8 A PROPERTIES Factories are located as follows: Officers W. E. Levis, Chairman, Exec. Comm. J. P. Levis, Chairman of Board C. R. Megowen, President F. J. Solon, Vice-President C. G. Benslnger. Vice-President S. L. Ralrdon. Vice-President H. C. Laughlin, Vice-President H. S. Wade, Vice-President R. L. Snideman. Vice-President S. J. McGiveran. Vice-President H. J. Carr, Vice-President R. A. Cosh. Vice-President J. G. King, Vice-President H. J. Durholt, Vice-President R. H. Mulford, Vice-President O. G. Burch. Vice-President J. H. McNemey, Secretary Sc Treasurer P. W. Hancock, Comptroller Directors W. H. Boshart. Toledo H. E. Collin. Toledo G. P. Greenhalgh, Berryvllle. Va. H. K. Kimble. Ventnor, N. J. W. W. Knight, Toledo J. P. Levis, Toledo W. E. Levis, Toledo F. H. McAdoo, New York C. R. Megowen. Toledo C. S. Root, Daytona Beach, Fla. R. L. Snideman, Chicago H. S. Wade, Toledo C. J. Wilcox, Toledo Annual Meeting: Third Wednesday in Apri at Toledo, O. No. of Stockholders: Mar. 16, 1951, 14,425. No. of Employees: Dec. 31, 1950, 28,614. General Office: Ohio Bldg., Madison Ave. Toledo 1, O. Management Profit-Sharing: Executives ant department heads receive additional compen sation under plan adopted Jan. 20, 1930, as d termined by the company's president out of i fund representing up to 8% of earnings in ex cess of 10% of capital and surplus at the be ginning of the year. Total of the particlpatinf salaries shall not exceed 10% of the excest earnings for each year. Total bonus to anj Directly and through subsidiaries manufac Alton. 111. Huntington, W. Va. participant in any year shall not exceed hi- tures. warehouses and sells a general line of Berlin. N. J. Los Angeles. Cal. salary for that year. bottles and other containers for medicinal, Bridgeton, N. J. toilet, pharmaceutical and proprietary prepa Buffalo. N. Y. rations; for products of manufacturing chem Charleston, W. Va. ists; and for foods, condiments and beverages; Chicago, UL also for other purposes. Also manufactures Chicago Heights, El. and sells glass insulators used in electrical and Clarion. Pa. telephone wiring; Insulux glass blocks for in Columbus, O. dustrial and residential construction; tele Corona, Cal. vision bulbs and Kaylo insulation. Company Elkhart. Ind. also engages in fabrication of strawboard into Fairmont, W. Va. corrugated cartons for shipping glass articles, Gas City, Ind. and makes wood packages, and in manufac Glassboro, N. J. ture of graduates, test tubes, laboratory ap Grand Rapids. Mich. paratus, flasks, thermometers and other simi Hancock, Vt. Middletown, Ohio Muncie. Ind. North Troy, Vt. Oakland. Cal. Pacific Grove. Cal. St. Charles. Hi. San Jose, Cal. Sayerville, N. J. Streator. El. Terre Haute, Ind. Toledo, O. Vineland, N. J. Waco, Tex, Warsaw, Ind. Payments made under the plan since 194 follow: 1940 _______ $48,644 1946................. $657,41 1941 ______ 628.250 1947_________ 609.50 1942 _______ 579.000 1948--_______ 402.12 1943.............. 588.500 1949_________ 689.38 1944 ______ 599.042 1950_________ 765,00 1945 ............ 642,500 Pension Plans: Under pension plans c company and certain of its subsidiaries, com panies in 1950 contributed $1,823,801. Ur. funded past service cost of the various plan was estimated at $2,415,000. INOOMB AOOOUNT8 COMPARATIVE CONSOLIDATED INCOME ACCOUNT. YEARS ENDED DEC. SI (Taken from reporta filed with Securities and Exchange Commission) BNet sales, royalties & oth. op. rev. BIICost of sales, royalties paid, etc. ISSelling, general & adm, expenses. 1950 1282,942,898 213,973,579 21,215,708 1949 $223,826,827 176,547.611 19,842,871 1948 $224396.075 186.792.156 19.502389 1947 $231,310,180 100332,018 18386.423 1946 $196359.500 160,956.926 14304,874 Operating profit_________ _______ -- Dividends received_____ Interest received______ . . Discount & commissions_______ Miscellaneous other income 47,753,611 686,000 112,805 m________ 145,348 27.436.345 266.110 234.260 D--------17.888 18.101,530 291.964 44.854 IB........... 100338 22.791.739 250,038 97318 QJ--------655.718 20.797.700 206,263 466,456 D______ 356,612 Total Provision for management bonus____ Discount on sales___ Provision for bad debts Interest expense______ _ ... Premium* debentures retired Sundry expenses & losses (net) - , 48.697.764 765.000 m______ 81,674 498,130 158,960 27.954.603 689.383 m--------118.808 863.733 386.863 18.538.686 402.120 m........... 23.728 412337 18.627 23.795.013 609,500 m______ 31,610 298,434 66.975 21327.031 657.417 m........... 729 32344 3,604 1945 $168,671,142 131.086.759 12398.371 25386.012 104.825 368.020 m......... 3337.096 28395.954 642,500 (D______ 549 43,964 19.137 1944 $174,584.34 135.210.24 12,655.65 26.718.41 121.45 255.13 455.85 82.8! 27.63377 599.04 1.625.99 16.94 "'18.32 Balance ____________ . . EEmployees' annuities 47.104,001 25.895.816 17.681.975 22,788.496 21,132,937 28389304 1360350 15372-6* 1363.U Total income before taxes___Provision for Federal income tax.___ BFedaral excess profits tax.................. 47.194,001 19.525.000 3,275,000 25.895.816 9.400.000 17.681.975 7300.000 22.788.498 8.719.000 21.132337 7.794.000 26.708.854 4343300 13.545300 13,709.4' 4 *38.10 1W10-40