54 Cocrar

Statistics of income
f
,(or 19 5 4
CORPORATION INCOME TAX RETURNS

for tax years ended July 1954-June 1955
U. S. TREASURY DEPARTMEN"r
Internal Revenue Servio-,
, t
Statistics of Income / .1954
Corporation
INCOME TAX
RETURNS
for tax years

ended
July 1954-June 1955
Prepared under the direction of the
Commissioner of Internal Revenue
by the Statistics Division
U. S. TREASURY DEPARTMENT / Internal Revenue Service Publication No. 16

LETTER OF TRANSMITTAL
TREASURY DEPARTMENTt
OFFICE OF COMMISSIONER OF INTERNAL REVENUE,
Washington, D. C., November 12, 1957.
SIR: In accordance with the provisions of section 6108 of the

Internal Revenue Code of 1954 requiring the publication annually of
statistics with respect to the operation of the Federal income and
profits tax laws, I have the honor to transmit herewith a report enti-
tled Statistics of Iricome-1954, Corporation Income Tax Returns, pre-
senting data relative to income, deductions, assets, liabilities, tax
liability, tax creditand dividends paid as reported on corporation
income tax returns for tax years ended July 1954 through June 1955.
There are also included a historical presentation of the income and of
the tax liability reported by corporations for the years 1945 through
1954 and a synopsis of corporation income and profits tax rates and
other provisions of the Federal tax laws affecting comparability of
the historical data.
Respectfully,
RUSSELL C. HARRINGTON,
Commissioner of Internal Revenue.
HON. ROBERT B. ANDERSON,

Secretary of the Treasury.
III
OTHER STATISTICS OF INCOME PUBLICATIONS
FOR 1954
Corporations Statistics of Income-1954, Preliminary, Corporation Income Tax Returns
Income statements, balance sheets, tax, dividends paid; classified by major
industry groups. Historical summary of total compiled receipts, profit or
loss, taxes, dividends paid, by net income status, 1950-1954. (39 pp.,300)
Individuals Statistics of Income-1954, Preliminary, Individual Income Tax Returns

Adjusted gross income, taxable income, income tax liability, sources of in-
come, exemptions, tax credits, itemized nonbusiness deductions; classified
by size of adjusted gross income. Selected sources of income by States and
Territories. (20 pp.) 200)
Statistics of Income-1954, Individual Income Tax Returns

Adjusted gross income, taxable income, income and self-employment tax lia-
bility, sources of income, exemptions, tax credits, itemized nonbusiness
deductions; classified by size of adjusted gross income. Taxable income by
taxable income size for applicable tax rates. Historical suinmary,1945-1954.
Estates Statistics of Income-1954, Estate Tax Returns

Gross estate, deductions, net estate, taxes, and tax credits. Classifica-
tions by size of gross estate,size of net estate before specific exemption.
Selected estate tax data by States and Territories. (26 pp., 25~)
Fiduciaries Statistics of Income-1954, Fiduciary Income Tax Returns

Total income, taxable income, income tax, sources of income, deductions,
exemptions; classified by size of total income. Selected sources of income
by States and Territories. Taxable income and income taxby size of taxable
income.
FOR 1953
(Subjects not included for 1954)
Sole Proprie- Statistics of Income for 1953, Part 1, Individual Income Tax Returns, Estate Tax
torships Returns, Gift Tax Returns
Sole proprietorship income, business receipts, net profit or loss. Classi-
fications by size of total receipts, industry groups. (138 pp., 754e)
Partnerships Statistics of Income- 1953, Partnership Returns

Partnership receipts, deductions, profit and loss, assets, liabilities.
Classifications by industry groups, size of ordinary net income or deficit,
size of total receipts. Frequency of returns by year of organization, new
or successor business. Self-employment income, and family partnership data.
(62 pp., 45~)
Farmers' Statistics of Income- 1953, Farmers' Cooperative Income Tax Returns

cooperatives Receipts, deductions, net income or deficit, tax, assets, liabilities,
special deductions and adjustments. Classifications by size of business
receipts, size of total assets, net income status, States and Territories,
type of service performed, exemption status. (42 pp., 400)
Gifts Statistics of Income for 1953, Part 1, Individual Income Tax Returns, Estate Tax
Returns, Gift Tax Returns
Total gifts, exclusions, deductions, net gifts, tax. Classifications by
size of net gifts, size of total gifts plus gift tax, tax status, type of
property. (138 pp., 756)
Statistics of Income publications are for sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C.
IV
General Contents
Page
Introduction ....................................................... I
1. Guide to subjects and categories of returns for 1954 .................... 3
2. Characteristics of data summarized for 1954 ........................... 7
3. Tables from corporation income tax returns, 1954 ....................... 29
4. Historical data, corporation income tax returns, 1945-1954 ............... 139
5. Source Book of Statistics of Income, 1926-1954 ........................ 171
6. Synopsis of Federal Tax Laws, 1945-1954........................... 181
7. Facsimiles of corporation return forms for 1954 ........................ 191
Index ............................................................ 223

INTRODUCTION
Annual returns filed in compliance with Federal income tax laws of-
fer a unique source of f inancial information. Statistics of Income- 1954,
Corporation Income Tax Returns is the 39th volweinanannual series de-
signed to present relatively complete,coordinated and consistentlyclas-
sified statistics from data submittedoncorporation income tax returns.
All domestic and resident foreign corporations,except certain-nonprofit
organizations,are required to file income tax returns which show income
by source, deductions, credits, and Federal income and profits taxes.
Other items of importance, particularly assets and liabilities, and
dividends paid, are also reported.
The first section ofthis report summarizes the statistical measure-
ments provided.and the corporation income tax return categories used in
compiling them.
The second section contains brief descriptions of changes in law
which affect the tabulations and an explanation ofthe terms and methods
employed in preparing the 1954 corporation statistics.
The third section of this report presents tax year 1954 data on in-
come, deductions, assets, liabilities, tax, and dividends paid, classi-
fied by type of industry, size of total assets, and other pertinent
classifications. The balance sheet data are shown in separate tables
with related items of income, deductions, and tax.
The fourth section consists of historical data selected from the tabu-
lations compiled for the years 1945-1954. Comparability of historical
data is discussed in the accompanying text.
The sixth section of the report givesa synopsis of Federal tax laws
affecting corporations. The synopsis tables show tax bases, rates, and
other provisions useful in studying the statistics.
Facsimiles of the 1954 return forms onwhich corporate data were re-
ported are provided in the final section of the report.
Some ofthe data presented inthis more detailed complete report were
available in May 1957 in the Preliminary Report, Statisti'cs of Income-
1954, Corporation Income Tax Returns.
The complete report, Statistics of Income-1954, Corporation Income
Tax Returns, introduces new methods of presenting these statistics. Prin-
cipal features of the new presentation are the addition of a uSer~s guide
to the subjects and categories of returns found in the 1954 tabulations
(see. 1),the placement in the 1954 ~able section of many of the special
tabulations formerly incorporated withthe explanatory text material,and
the independent numbering of tabulations limited to data from returns
with net income which were formerly shown as Part II of similar tabula-
tions prepared from all active corporation returns.
1
Guide to Subjects
and Categories of
Returns for 1954
Guide to........... BENCHMARK DATA FROM CORPORATION INCOME TAX RETURNS-1954
Page
Text Table
Industry measurement ................. 17
Minor industry receipts, costs, net income, taxes ..................................... 32
Major industry income statements ...................................................... 37
Major industry balance sheet and related income statements ............................ 44
Major industry asset size distribution, balance sheet and related income statement
items ........................... 54
Industrial division income size distribution, net income, taxes, dividends paid ....... 80
Asset size and income size distributions ...................... 18
Balance sheets and related income statements, by size of total
****-*--******---
assets ................. 52
Major industry balance sheet and related income statement items, by size of total
assets ........................................................ 54
Industrial division net income, taxes, and dividends paid, by size of net income or
deficit ................. 80
Type of tax liability, by size of net income .......................................... 82
Dividend and selected interest receipts, by size of net income or deficit ............. 83
Type of dividends paid, by size of net income or deficit .............................. 84
Dividends summary ......................................................................... 18
Dividend receipts by size of net income or deficit .................................... 83
Type of dividends paid by size of net income or deficit ............................... 84
Cash dividends paid by industrial division ............................................ 85
Accounting periods and methods ............................................................ 18
Major industry assets, receipts, net income, by month accounting period ended ......... 88
Calendar and noncalendar periods related to asset size ................................ 96
Calendar and noncalendar periods related to income size ............................... 95
Cash, accrual, and other accounting methods by major industry ......................... 87
Inventory valuation methods by major industry ......................................... 86
Inventories .............. : 19
Major industry valuation ***'"'**'****"'*""*"*'******""*''*********"**'*"**'***'
methods ...................................................... 86
Manufacturing and trade beginning and ending, related sales and total assets .......... 120
Manufacturing and trade beginning and ending, total assets, by month accounting period
ended ............................................................................... 121
Returns with net income ................................................................... 97, , 104,
110 118
New businesses and successor businesses by major industry ................................. 20 122
Consolidated returns ................. 20

Industrial division balance sheets and income statements .............................. 123
Asset size distribution, balance sheets and related income statements ................. 124
Foreign tax credit clained ................................................................ 20

Major industry distribution ........................................................... 129
Asset size distribution ............................................................... 130
Income size distribution .............................................................. 130
Western Hemisphere trade corporations ..................................................... 21

Major industry distribution ........................................................... 131
Asset size distribution ............................................................... 134
Income size distribution .............................................................. 135
Personal holding company schedules ........................................................ 21
Undistributed income computation and tax .............................................. 136
Sources of personal holding company income ............................................ 136
Personal holding company income size distribution ..................................... 137
Undistributed personal holding company income size distribution ....................... 137
4
Guide to .................. NUMBER OF CORPORATION INCOME TAX RETURNS
WITHIN PRINCIPAL CATEGORIES IN 1954 TABULATIONS
The number of returns from which data are summarized varies for different groups of 1954
corporation tax year tables, depending on subject matter and category of returns covered.
THOUSANDS OF RETURNS
200 400 600
I 1
& Financial data are available for 7 22,805
,u': active corporations
ACTIVE U
I * No financial data are available for 31,214
I inactive corporations
-J
Data relating to ACTIVE CORPORA TIONS are tabulated for:
0 722,805 Returns with and without net income
WITH NET INCOME WITHOUT NET INCOME 0 441,177 Returns with net income
0 281,628 Returns without net income
e 722,805 Returns with and without balance

sheets
WITH BALANCE SHEETS 9 667,856 Returns with balance sheets
with net income without net income
0 54,949 Returns without balance sheets
ACCOUNTING PERIOD
Z
U
1954 19 722,805 Returns by final month in the annual
N 0: UJ accounting period covered by the return
< 04
DECEMBER J F
SEPARATE TABULATIONS are niade for returns with special tax provisions:
0 1,510 With net income
2,723 Consolidated returns .~ ...... 0 2,652 With balance sheets

0 71 Without balance sheets
3,215 Returns with foreign tax credit ......................... 0 2,422 With Form 1118
0 278 With credit claimed for foreign taxes

687 Western HeMiSDhere trade corDoration returns .........
1 * 409 Without credit clai ed for foreign taxes
* 273 With undistributed income

3,818 Returns with personal holding company schedules ...
1 0 3,545 Without undistributed income
THIS PAGE IS INTENTIONALLY BLANK.
2. Characteristics of
Data Summarized
for 1954
CHARACTERISTICS OF DATA SUMMARIZED FROM CORPORATION
INCOME TAX RETURNS FOR 1954
Page
Purpose of this section .......................................... 9
Summary of 1954 data ............................................. 9
Changes in law affecting 1954 data ............................... 10
Characteristics of 1954 tabulations .............................. 15
Sources of data ................................................ 15
Categories of active corporation returns ....................... 15
Description of tables .......................................... 16
Industry measurements .......................................... 17
Asset size and income size distributions ....................... 18
Dividends summary .............................................. 18
Accounting periods and methods ................................. 18
Inventories .................................................... 19
New businesses and successor businesses ........................ 20
Consolidated returns ........................................... 20
Foreign tax credit claimed ..................................... 20
Western Hemisphere trade corporations .......................... 21
Personal holding company schedules ............................. 21
Description of the sample and limitations of data ................ 22
Explanation of terms ............................................. 23
8
11
2. CHARACTERISTICS OF DATA SUMMARIZED FROM

CORPORATION INCOME TAX RETURNS FOR 1954
PURPOSE OF THIS'SECTION in the income tax liability and of $1.6 billion in
excess profits tax liability accounted for the tax
The tax return f orms are designed primarily to fa- decrease, reported for 1954. Although the excess
cilitate collection of taxes authorized in revenue profits tax terminated December 31, 1953, tax year
legislation and items on the return may change when 1954 returns still showed $38 million in excess
the Internal Revenue Codeisamended. Brief descrip- profits tax liability for corporations with part of
tions of major changes in the law which affect tax their accounting period in 1953.
year 1954 data for corporations are contained in this Active corporations filed a record 722,805 re-
section along with sumary figures and text to de- turns for tax year 1954. Receipts on these returns
scribe salient characteristics of the tabulations aggregated nearly $555 billion, $3 billion less
that follow.' Rather than use numerous table foot- than the total compiled on 697,975 tax year 1953
notes, part of this section is devoted to an "Expla- returns from active corporations. Gross sales and
nation of Terms" designed to aid the users of both gross receipts from operations accounted for more
tax year 1954 data and the historical material in than 95 percent of the total receipts for both 1953
tables 38 through 43. and 1954. Total receipts increased for the trade,
finance, service, construction, and public utility
divisions. The decrease was concentrated in manu-
SUMMARY OF 1954 DATA facturing receipts, particularly in motor vehicles,
the primary metal industries, electrical machinery
Profits after taxes for 1954 were $1-9.9 billion and equipment, and machinery except transportation
which was approximately the same level as reported equipment and electrical. The relative changes from
for 1953. Profits before taxes of $36.7 billion 1953 levels of total receipts of corporations clas-
for 1954, on the other hand, were $3.1 billion less sified by industrial divisions are shownonchart 2.
than for tax year 1953. A reduction of $1.4 billion Corporate net income for both years is similarly
related on this chart.
Chart I.-CORPORATE PROFITS, BEFORE ANO AFTER TAXES Table A-RECEIPTS, DEDUCTIONS, TAX, PROFITS-ALL ACTIVE CORPORATION RETURNS,
Billions of dollars 1954 AND 1053
Billions of dollars
401 ___140 1953
Item
19-41
(W111- d.1 I...)
Gr... receipts from sales and from operations ................ 528.9 534.6
other
.1 receipts ........................................... 25.9 23.7
Total compiled receipts ................................ 554.8 258.2
Cost goods sold and of operations ......................... 399.7 392.7

All other
of deductions ......................................... 128.4 125.8
Total compiled deductions .............................. 518.1 518.4
Compiled net profit .......................................... 36.7 39.8

Total tax .................................................... 16.9 19.9
Compiled net profit less total tax ........................... 19.9 19.9
Table 2, on pages 37-42 of this report, provides

detailed information about corporate receipts and
deductions for 1954. Text table A above summarizes
data for 1953 and 1954. Among the receipt items
totaled in table A, tax year 1954 rent, interest,
1953 19514 and net gains from sales of assets amounted to more
thantaxyear 1953 sumsfbr comparable receipt items.
Among deduction items,depreciation and amortization
charges, interest, compensation of officers, adver-
IFor a more complete discussion of some problems encountered In tising, taxes, and rent were higher for 1954 than
the use of tax returns to obtain data on the financial characteris- for the previous year.
tics of the economy, see ftTax Returns as a Source of Benchmark The 441,177 corporations with net income for 1954
Statistics" by Helen F. Demond In Isproving the Quality of reported profits less wholly tax-exempt interest of
Statistical Surveys, distributed by the American Statistical Asso- $39.6 billion. As shown in table B, this was about
ciation, Washington, D. C., 1956. 5 percent less than the sum reported by the 441,767
9
10 CORPORATION INCOME TAX RETURNS FOR 1954
corporations with net income which f iled for tax year net income for 1953. The number of inactive (non-
1953. But compiled net profit after tax, amounting operating) corporations in existence and rejuired
to $23.1 billion in 1954,was about 4 percent higher to file declined for tax year 1954, as it has for
than in 1953. each tax year since 1950.
Deficits reported on 281,628 returns with no net
income for tax year 1954, in the amount of $3.2
billion,were 39 percent higher than those disclosed CHANGES IN LAW AFFECTING 1954 DATA
on 256,208 returns from corporations reporting no Enactment of the Internal Revenue Code of 1954.-
On August 16, 1954, the Internal Revenue Code of 1954
superseded the Code enacted February 10, 1939. The
Table B.-NUMBER OF RETURNS, NET INCOME OR DEFICIT, AND TAXES, CORPORATION RETUR?4
new law is effective, generally, for all taxable
1954 AND 1958 years beginning after December 31, 1953 and ending
Increase or after August 16, 1954. Returns for calendar years
decrease (-)
Item 1954 1953 ended in December 1954 and fiscal years endedin the
Number or Percent
amount period Januax7 through June 1955 were filed under the
1954 Code; returns for fiscal years ended July through
Total number of returns ................. 754,019 730,974 23,045 3.2
November 1954 were f iled under provisions of the 1939
Active ~orporations :
Number of returns ..................... 722,805 697,975 24,830 3.6 Code. The more important changesinrevenue law af-
Returns wi net income :
f ecting corporation data reported under the 1954 Code
Number ofthret rna ................... 441,177 441,767 -590 -0.1 are summarized below.
Net income: ....... thousand dollars.. 39,572,830 41,819,445 -2,246,615 -5.4
Ine~ Income and excess profits taxes.-The normal tax
Numbertax
Amount ..........
of- returns' ................ 391,522 399,264 .
thousand dollars.. 16,823,241
-7,742
18,255,625 -1,432,384
-1.9
-7.8
rate of 30 percent and surtax rate of 22 percent were
Excess profit tax :2
Number of r:turns ................. 3,724 26,567
unchanged. The $25,000 exemption from surtax was
-22,843 -86 0
Amount .......... thousand dollars.. 37,711 1,613,424 -1,575,713 -97.7
' also unchanged. The excess profits tax imposed by
Returns rwith no net income : the Excess Profits Tax Act of 1950 ended December 2,
Numbscit of ret rns ................... 281,628
Defi ........... thousand dollars.. 3,244,395
256,208
2,334,758
25,420
909,637
9.9
39.0
1953. The excess profits tax shown in this report
Number of returns of inactive corpora-
is tax reported for taxable years beginning in 1953.
tions ..................................
1 31,214 . 32,999, -1,785 , -5.4 The amount of tax reported was a prorated amount
ot'Returne with net income but with no t" liability mew as a result of specia based on the number of days in the taxable year be-
ory deductions from the net income. The tax liability tabulated is before foreign
tax credit fore January 1, 1954. The excess profits tax rate
2The excess
- profits tax law terminated Dec. 31~ 1953. Excess profits tax tabulated
for this report was the tax on income earned before that date and reported on returns
was 30 percent of the adjusted excess profits net
for annual accounting periods ended July through November 1954 and returns for part income.
years which began in 1953. Excess profits tax is before foreign tax credit.
NOTE: See text for explanatory statements and for "Description of the Semple and The maxinalm tax on long-term capital gains, used
Limitations of Data.-
in computing the alternative tax, was reduced from
Ckart 2.-RELATIVE CHANCE IN TOTAL RECEIPTS AND NET INCOME OF INDUSTRIAL DIVISIONS
TAX YEAR 1954 is. TAX YEAR 1953
TOTAL RECEIPTS 19514 NET INCOME 1954
4W Percent
20
F ANCE, INSURANCE, REAL ESTATE

15 INCREASE A1: D LESSORS OF REAL PROPERTY
Fl:,AMCE
A INSURANCE REAL ESTATE over 1953
LE63ORS OF Rill. PROPERTY
10 AGRICULTURE, FORESTRY, AND

CONSTRUCTION FISHERY
19530
_- SERVICES
MANUFACTURING
5 CONSTRUCTION
AGRICULTURE,
F FORESTRY AND
ISHERY
TRADE
10
- PUBLIC UTILITIES
- MANUFACTURING
15
DECREASE
from 1953
20
- MINING AND QUARRYING
26
26 percent to 25 percent for taxable years beginning fully effective. (The dividend deduction limitation
on or after April 1, 1954. For returns used in com- based on size of net income is retainedin general,
piling this report, the alternative tax change ap- but if a net loss is determined after th6 dividend
plied only to returns with f iscal years ended in the deduction the full statutory deduction is used in
period March through June 1955. computing the amount of loss.)
The 2 percent additional tax imposed on the con- The amount of net operating loss deduction tabu-
solidated taxable income of an affiliated group of lated for Statistics of Income is the net operating
corporations electing to file a consolidated return loss carryover deductible in the year reported. The
was made inapplicable to any portion of such income carryover may represent lossesof one or more years,
attributable to a regulated public utility (as de- reduced by any net incomes of carryback and preceding
fined by section 1503 of the 1954 Code). carryover years. The changes in computation of the
Returns with net income (see definition of net in- net operating loss and offsetting net incomes of
come, p .25) may be nontaxable because of a net operat- carryback and carryover years under the 1954 Code wii]:
ing loss deduction, as in former years, or as a re- increase the net operating loss deduction. However,
sult of deductions for dividends received and for the extension of the carryback period f rom one to two
dividends paid on certain preferred stock of public years may, in a given year, tend to offset this in-
utilities. Under the 1954 Code, the deductions for crease in the net operating loss carryover tabulated
dividends are not subject to the limitation based on for Statistics of Income.
size of net income if the sum of the dividend deduc- The changes are effective Januaryl, 1954,and spe-
tions is greater than the net income. (See section cial transitional rules are provided for tax years
172(d)(6) and sections 243 through 247.) beginning before and ending after that date. Compu-
Foreign tax - credit.-The credit against income tax tations for each year affected by a loss are made
which could be claimed under the 1939 Code was sub- under the law in effect for that year.
ject to two limitations: (1) credit for taxes paid Prepaid income.-Section 452 of the 1954 Code as
or accrued to any foreign country or United States originally enacted permitted taxpayers to spread the
possession could not exceed the same proportion of reporting of prepaid income over the life of the lia-
the United States income tax which taxable income bility incurred. However, prepaid income was to be
from sources within such country bore to the entire fully reported within 6 yearsincluding year of re-
taxable income, and (2) the total credit claimed ceipt,unless an exception was granted. Prepaid in-
could not exceed the same proportion of the United come was defined as any amount includible in gross
States income tax which aggregate taxable income income which was received in connection with, and was
from sources without the United States bore to the directly attributabfe to, a liability to render ser~-
entire taxable income. Similar limitations applied ices, furnish goods or other property (except sale of
to credit claimed with respect to the excess profits a capital asset), or allow use of property if the
tax which ended December 31, 1953. liability extended to a future taxable year. Under
The 1954 Code drops the second of these limitations. the 1939 Code,applicable to tax years beginning be-
This change removes any limit on the credit which fore December 31, 1953, prepaid income was reported
might result f rom foreign losses when. operations are in the year received.
I
carried on in more than one foreign country. On June 15,195_~ section 452 was repealedby Public
Foreign tax credit maybe claimed for taxes deemed Law 74, effective retroactively to all tax years be-
to have been paid on certain dividends receive~ from ginning after December 31, 195~,and taxed under the
foreign sources. The 1954 Code adds to the defini- 1954 Code. Most tax years covered by the 1954 sta-
tion of dividends for this purpose the excess of tistics ended before June 15, 1955, and the returns
royalties or compensation paidin lieu of all divi- used for the tabulations included those for which the
dends for the yearby a wholly owned manufacturing, election under section 452 had been made. Data on
production, or mining subsidiary over the cost of supplementary reports f iled as a result of the repeal-
property or services furnished in.consideration of ing act were not sufficient to adjust the original re-
such payments-by.the parent corporation.. turns to the new basis. Thereforenet income tabu-
Net operating loss deduction.-For tax purposes a lated f or this report excluded the prepaid income de-
net operating loss can be used to reduce taxable in- ferred by taxpayers which made the election under
come of certain preceding and succeeding tax years. section 452 and filed 1954 returns for tax years
Under the 1939 Code a loss could first be carried ended on or before June, 15, 1955.
back one year and then forward 5 years. Before taking On the 1954 return formtaxpayers were instructed
a net operating loss deduction both the statutory net to report the balance sheet liability incurred for
loss and the statutory net income f rom which the de- the prepaid income deferred under section 452 as a
duction was taken were subject to certain adjust- separate item on the balance sheet schedule. The
ments -tax-exempt interest was added to gross income, amount of this liability, as reported on 1954 returns
and deductions for depletion could not exceed the withbalanc e sheetswas $471 million (line 24, table 4.)
amount of depletion allowable on a cost basis. Statu- Reserves for estimated expenses,thder section 462
tory deductions f or dividends received and dividends of the 1954 Code as originally enacted, taxpayers
paid on certain preferred stock of public utilities could elect to take as deductions in computing net
were voided in loss years by a limitation based on income reasonable additions to reserves for various
size of net income. In the carryback and carryover types of estimated future expenses. Estimated ex-
years the dividends received deduction was voided by penses were defined as expenses which (1) would be
an adjustment to the net operating loss deduction. deductible in a subsequent taxable year except for the
The 1954 Code extends the carryback period to two election under section 462, (2) could be estimated
years. Tax-exempt, interest and depletion adjust- with reasonable accuracy, and (3) were attributable
ments are abolished, and dividend deductions are made to income o f a current or prior taxable year for which
448404 0 - 57 - Z
the election under section 462 had been made. N o de- (c) Any other consistent method whichdoes not
duction could be taken under section 462 for future result, at any time during the first two-thirds
expenses incident to (1) income of a year prior to of the useful life of the property, in an accumu-
year of election, (2) prepaid income deferred under lated allowance greater than the amount allowable
section 452, or (3) anticipated bad debts. for the same period under the declining balance
Wider the 1939 Code, only future expenses which method above.
could be accurately determined were deductible in Specific permission is given by the 1954 Code to
the year liability was incurred. change from the declining balance method to the
Section 462 was also repealed June 15, 1955, by straight line method during the useful life of an
Public Law 74, retroactive to all years taxed under asset.
the 1954 Code. Reserves for estimated expenses,re- Other methods approved astoreasonableness by the
ported on returns with balance sheets filed for tax Commissioner may be used for both old and new prop-
years ending before repeal of section 462, amounted erty as in the past. For property not meeting the
to $1,270 million (table 4, line 23). requirements for accelerated depreciation there is
This balance sheet item was designed to reflect continued in effect an Internal Revenue Service
the deduction made in computing the net income for ruling limiting the depreciation rate under the de-
1954 since taxpayers were instructed to include in clining balance method to 150 percent of the appli-
it only the reserves accumulated under section 462. cable straight line method.
Depreciation. -Both the 1939 and 1954 Codes provide Depletion. -Several important changes in the de-
a "reasonable allowance" f or depreciation - They dif - duction for depletion of mining property are made by
fer in that the 1954 law specifies four methods or the 1954 Code.
measurements which maybeused in determining a rea- Election to use depletion based on apercentage of
sonable depreciation allowance for tax years ended income from the property is extended to cover all
after December 31,1953. However, statutory recogni- mineral and natural deposits(except soil, sodturf,
tion of these methods does not prohibit useofother water, mosses, and minerals from inexhaustible
reasonable methods. sources such as sea water and air). Several changes
The first method specifically recognized by the are made in previously existing percentage rates,
1954 Code is the straight-line method. This method, the most important of which is an increase f rom 15
which was used under prior law, may be used for any to 23 percent in the rates accorded a number of
property and, in general, results in equal annual minerals if they are produced within the United
deductions over the life of the property. States.
The other three specified methodsof depreciation Percentage depletion rates range from 5 percent
may be used only for new tangible property with a to 27 112 percent. Section 613 of the 1954 Code
useful life of 3 years or more. These methods per- lists the rates and th e minerals to which each
mit the writeoff of a large portion of the cost or applies. Minerals for which percentage depletion
other basis of new property in the early years of its could be claimed under prior law and the specified
life, about 40 percent during the first quarter of percentage rates may be found in section 114 of the
estimated useful life and about two-thirds during the 1939 Code.
first half of estimated useful life. "New" property Depletion based on discovery value, permissible
means property constructed or reconstructed by the under the 1939 Code, is eliminated by the extension
taxpayer after December 31, 1953 (including, where of percentage depletion.
constructionwasstarted earlier, that portion built The definition of mining is broadened to include
after December 31,1953), and property which had not extraction by mine owners or operators of ores or
previously been used which was acquired by the tax- minerals f rom waste or residueof p3!ior mining. Defi-
payer after December 31 1953. The accelerated de- nitions pertaining to "ordinary treatment processes"
preciation methods authorized
' by the 1954 Code for which are included in the statutory term "mining"
new tangible property are: are also broadened. (See section 613 of the 1954
(a) Declining balance method. --Depreciation is Code.)
computed by applying a uniform rate,not exceed- Research and experimental expenditures.-Uncbr the
ing two times the applicable rate under the 1954 Code research and experimental expenditures may
straight line method,to the cost or other basis be either treatedas ordinary business expenses, de-
of the property reduced by the amount of depre- ductible in the year incurred, or capitalized. The
ciation allowed in prior years; treatment adopted must be used for all research and
(b) 'sum of the years- di gi ts,-The cost or other experimental expenditures and for subsequent years
basis, reduced by estimated salvage, is multiplied unless a specific exception is granted. The elec-
by a changing fraction. The numerator of the tion does not apply to expenditures for land or prop-
fraction changes each year to a number corre- erty and improvements subject to depreciation or
sponding to the remaining useful life of the depletion allowance used in experimental or research
asset (including year of computation). The de- work.
nominator remains constant and equals the sum Capitalized expenditures which result in a prop-
of all the years' digits corresponding to the erty witha determinable useful life are charged off
estimated useful life of the asset. Thus, the as depreciationor depletion over the useful life of
cost or other basis of an asset with an estimated the property.
useful life of five years would be multiplied The 1954 Code provides, for the first time, a
by the fraction 5/15 in the first year (5 years method of charging off capitalized research and ex-
useful life/1+2+3+4+5 or sum of the digits of perimental expenditures which can not be recovered
each year of useful life), 4/15 in the second through depreciation or depletion. Under the 1954
year, 3/15 in the third year, etc.; and Code such expenses can be treated as deferred ex-
CORPORATION INCOME TAX RETURNS FOR 1954 13
penses subject to amortization over a period of not duction may be taken whether or not a consolidated
less than 60 months beginning with the first month return is filed.
that benefits from the expenditureis realized. De- The new Code also specifies that deductions may
ductions taken under the 1954 Code for capitalized be taken for payments made to an employee trust which
expenditures are included in the item "Depreciation is denied exemption under section 501 only because
and amortization" throughout this report. it is situated outside the United States.
Prior law madenospecific provisions for research Rents~-received and paid by corporations .-Under
and experimental expenditures. To the extent that prior law rents received included amounts paid,under
they were ordinary and necessary business expenses. the terms of a lease, to a lessor corporation as
they were deductible. If the expenditure was capital reimbursement for Federal income taxes payable on
in nature, it was capitalized and amortized over rentals fromtheleased property. These amounts were
useful life. If useful life could notbe determined, also reportedbythe lessee corporation and included
no deduction was available except for loss due to in rents paid. The 1954 Code excludes from the in-
abandonment. come of the lessor and the deductions of the lessee
Exploration expenditures.-The limit on deductions payments made as reimbursement for income taxes on
with respect to mine exploration expenditures was rental income if the lease is between corporations
raised from $75,000 to $100,000 by the 1954 Code. and was -entered into before January 1,1954. Leases
This limited deductionis available for expenditures made before January 1,1954,include renewals or con-
normally capitalized and may be taken in the year tinuances made in accordance with an option in the
incurred or as a deferred expense charged off rata- original lease.
bly against units of minerals sold. The deduction Taxes paid.-Real property taxes were formerlyde-
cannot be taken in more than 4 years, and does not ductible only at the time legal liability occurred.
apply to oil and gas wells. Exploration expenditures Under the 1954 Code such taxes maybe deducted rata-
were includedih the amortization deduction schedule bly over the period for which they are levied.
in the 1954 return form, but taxpayers mayhave re- Taxes for local benefits which increase the value
ported expenses fully deducted in the year incurred of the property assessed maybe deducted if (1) they
as cost of sales or operations or "Other deductions." are levied by a special taxing district covering at
Organizational expenditures.-Organizational ex- leas~ one county and 1,000 persons, and (2) there
penses paid or incurred onor after August 16,1954, are annual assessmentsat a uniform rate on the same
may be treated asdeferred expenses deductible rata- assessed value ofreal property used for the general
bly over a period of not less than 60 months. Or- property tax. Under prior law such levies were con-
ganizational expenditures are defined as expenditures sidered capital expenditures and only that part at-
(1) incident to the creation of a corporation, (2) tributabletointerest or maintenance was deductible.
chargeable to capital account, and (3) amortizable Capital gains and losses.-The principal changes
if the corporation had a limited life. The term ex- with respect to statutory capital gains and losses
cludes costs of issuing and selling stocks or other are definitional or technical. Among the changes
securities, costs incident to transfer of assets to are: (1) exclusion of accounts and notes receivable
the corporation, and costs of a reorganization. acquired in the ordinary course of business for
Under prior law, organization expenses could be re- services rendered or from sale of stock in trade or
covered for tax purposes onlyat time of liquidation inventory from the statutory definition of capital
or by depreciation if a limited term of existence assets;(2) clarification of the treatment of origi-
was specified in the corporate charter. Deductions nal issue discountonbonds which are capital assets
for organizational expenditures are included in the and are issued after December 31, 1954; (3) removal
item "Depreciation and amortization." of the requirement that the above securities be is-
Soil and water conservation expenditures .-Under sued with coupons or in registered form to qualify
prior law, conservation expenditures were generally gains or losses realized upon retirement as capital
required to be capitalized. The 1954 Code permits gains or losses; and (4) revision of certain provi-
a taxpayer engaged in farming to take expenditures sions with respect to holding periods, gains and
for soil or water conservation or prevention of ero- losses from short sales'and options, proceeds from
sion with respect to land usedin farming as a busi- sale of patents by an inventor and sale of subdivided
ness deduction. The deduction for anyone year is real estate. (Subch. P of ch. 1, 1954 Code.) Ca-
limited to 25 percent ofthe gross income from farm- pital assets are defined under "Capital gain or loss"
ing for the year but excess expenditures maybe car~ in "Explanation of Terms."
ried forward until fully deducted. Expenditures Length of taxable year.-Under the 1954 Code, a
for facilities subject to depreciation are excluded corporation which regularly endsits annual account-
from this provision. This new deduction is tabula- ing period on a particular day of the week, and in
ted as reported by the taxpayer and maybereflected the last week of a calendar month, or the first or
in cost of sales or operations orin"Other deduc- last week of a calendar month whichever causes the
tions." closing day to be nearest the end of the month, may
Amounts contributed under pension plans.-Under use such accounting period as its taxable year.
the 1954 Code, members of an affiliated group, as Under this method of accounting, the period covered
defined by section 1504,maintaining a common profit by a taxable year mayvary from 52 to 53 weeks. This
sharing or stock bonus plan based on profits may elective method may be used for taxable years ending
deduct contributions made to such common plan on after August 16, 1954.
behalf of employees of a member of the affiliated Unincorporated businesses filing corporation re-
group which has insufficient earnings or profits out turns.-Section 1361 of the 1954 Code gives certain
of which to provide for its own employees. The de- partnerships and sole proprietorships the privilege
l
T&W9 C-NMER OF CONSOLMATED BSTURNS AND SUBSEDIARIBA, BY DMUSIVAL MVIIWI46
of reporting business income and paying tax thereon 19" AND IOU
under the laws applicable to corporations. Returns
Number of consolidated
filed by unincorporated businesses on the corpora- returns
Number of mbsidiariem
Industrial division
tion return Form 1120 under this elective provision 1954 1953 1954 1953
could not be accurately identified amcngthe returns (2) (3) (4)
used for corporate statistics. Therefore, a small
All industrial divisions ............. 2,723 2,408 10,416 9,670
amount of noncorporate financial data was included
Agriculture, forestry, and fishery ... 21 12 41 55
in the tabulations for this report. Mining and quarrying ................. 113 91 352 339
Construction ......................... 122 112 311 264
The election as to corporate tax treatment under Manufacturing ........................ 759 741 2,748 2,621
section 1361 is restricted to sole proprietorships Public utilities ..................... 264 187 1,642 1,180
Trade ................................ 624 558 2,017 1,969
or partnerships with not more than 50 individual Finance, insurance, real estate, and
lessors of real property ............ 602 475 1,998 1,776
members. Capital must be a material income produc- Services ............................. 216 225 1,305 1,,457
Nature of business not allocable ..... 2 7 2 9
ing factor or 50 percent or moreof the gross income
must be derived from trading as a principal or from
brokerage commissions on real property, stock, se-
curity, or commodity transactions. Election may be As mentioned in the discussion of tax changes
made foronly one business if more than a 10 percent above,income of regulated public utilities included
interestis held in two or more businesses by a com- in a consolidated return is now exempt from the 2
mon owner or partner. An ownership interest by non- percent additional tax imposed on groups filing a
resident aliens or foreign partnerships is prohibited. consolidated return.
Income defined as personal holding company income Personal holding companies.-Thel954 Code revised
by section 543 of the 1954 Code is excluded from the several of the provisions defining personal holding
corporate income tax treatment and must be reported companies, personal holding company income, and the
on the personal returns of the proprietors or part- tax base (undistributed personal holding company
ners. Such income includes dividends, interest, and income), but did not change the additional tax im-
certain rents and royalties,but not brokerage com- posed on such companies.
missions. In defining personal holding companies under the
The election to file corporation returns is bind- 1939 Code use was made of a two part test relative
ing for future taxable years unless a 20 percent to personal holding company income-
change in ownership occurs. (1) At least 80 percent of gross income was per-
Consolidated returns.-Historical comparability sonal holding company income, or
of data classified by major industrial groups or, (2) At least 70 percent of gross income was per-
for exampleby size of income or assets is affected sonal holding company income and the company
by changesin the statutory definition of an "affil- was classed as a personal holding company in
iated group" and by the privilege of making new a prior taxable year unless (a) the company
elections for 1954 with respect to use of the con- did not meet the stock ownership test for one
solidated returns. Under the 1939 Code at least 95 intervening yearor (b) less than 70 percent
percent of the stock of each affiliate included in of gross income was personal holding company
the consolidated return had to be owned within the income for three consecutive years.
group. A consolidated return must cover all qualif ied The 1954 Code dropped the second part of the test.
members of arelated group. The new Code reduced the In applying the 80 percent gross income test under
stock ownership requirement to 80 percent. Since a the 1954 Code to nonrailroad corporationsan affil-
number of corporations formerly filing separate re- iated group filing a consolidated return is treated
turns first qualified as members of affiliated groups as a single corporation unless (1) a member of the
filing consolidated returns in 1954, data for these group is exempt from personal holding company tax
corporations, and possibly the entire consolidated under section 542(c), or (2) a member of the group
group, may have fallen in a different industrial derived 10 percent or more of its gross income from
group or size class than that in which they fell in outside the group and 80 percent or more of such
prior years. gross income was defined as personal holding company
Because of the many changes in the income tax laws, income. In computing the outside income for this
corporations which had previouslyfiled consolidated test, there is excluded from gross income and per-
returns were permitted to change the method of f iling sonal holding company income dividends received by
for 1954. Corporations formerly filing consolidated the common parent company from anonpersonal holding
returns may have,under the new electionfiled sepa- corporation outside the affiliated group but in which
rately for 1954,resulting in further shifts of data the parent company holds 50 percent or more of the
from one group to another. outstanding voting stock. Under both the 1954 and
Data for 1954 consolidated returns are shown in 1939 Codes an affiliated group of railroads filing
tables 24 through 27, on pages 123-128 of this volume. a consolidated return is treated as a single corpo-
Table C below compares the total number of consoli- ration without qualification as to sources of income.
dated returns(equivalent to number of parent corpo- Also in defining personal holding companies, the
rations) and the number of subsidiaries shown on criteria for stock ownership were revisedto include
consolidated returns in 1954 and 1953. Difficulties in the term " individual" certain exempt organizations
arisein comparing data in these tables with similar and charitable trusts (see see. 542 of the 1954 Code) .
tabulations made for prior periods when applicable In defining the income which distinguishes per-
provisions of income tax laws may have been different. sonal holding companies, three changes were made by
See Synopsis of Tax Laws 1945-1954, page 186. the 1954 Code. Excluded from personal holding com-
pany income are(l) rent paid for use of corporation CHARACTERTSTICS OF 1954 TABULATIONS
property by a principal stockholder(one controlling
25 percent or more of the value of outstanding stock) Sources of Data
unless at least 10 percent of the corporate gross
income other than rent is personal holding company Data shown in this report as relating to the year
income, and (2) interest earned on special reserve 1954 are taken from a sample of corporation income
funds ~stablished under the Merchant Marine Act, tax returns filed for the calendar year ended
1936. The third change limits gains from the sale December 31, 1954, annual noncalendar accounting
of securities or commodities tothe net amount above periods ended within the interval July 1954 through
corresponding losses. June 1955, and part years with the greater portion
Under both the 1939 and 1954 Codes certain adjust- of the accounting period in 1954. The data were com-
ments to corporate net income are made in determin- piled from corporation returns as filed on income
ing the amount subject to the personal holding com- tax Forms 1120,1120L (life insurance),and Form 1120M
pany tax. One adjustmentis the deduction of Federal (mutual insurance)and from personal holding company
income and profits taxes not allowed in computing schedules filed under the 1954 Code and on the 1954
the net income. The 1954 Code specifies that such return form. Data are compiled prior to any revi-
taxes are to be deducted as accrued. However, tax- sions resulting from audit by the Internal Revenue
payers may continue a cash basis method of deduction, Service and prior to carryback of subsequent operat-
if used under the 1939 Code, or make, at any time, ing losses to tax year 1954.
an irrevocable election to changeto the accrual ba- Returns on the corporation Form 1120 f rom a limited
sis. number of sole proprietorships and partnerships were
The deduction for contributions allowedin comput- used in the compilation, as were returns of foreign
ing the personal holding tax base was formerly lim- corporations engaged in business within the United
ited to 15 percent of net income. The 1964 Code States. Tax forms in the 990 seriesfiled by exempt
raises this limit to one comparable to that of organizations, were not used.
individuals-20 percent of net income with an ad-
ditional 10 percent allowed for certain contribu- Categories of Active Corporation Returns
tions to churches, schools, and hospitals. (Sees.
545(b)(2) and 170(b)(1)(A) and (B).) Classification of returns into those with and with-
The 1954 Code adds to the personal holding company out net income is based on the current year net in-
tax base amounts released from United States liens come or deficit before any net operating loss deduc-
which had been previously deducted under 1954 Code tion and other special statutory deductions available
provisions. The 1939 Code allowed deduction of to corporations in computing taxable income. (See
amounts subject to lien but did not provide for fu- Synopsis of Federal Tax Laws, footnote 4, for com-
ture restoration of released amounts to taxable in- putation of taxable income.) Returns with net in-
come. come may be nontaxable because of a net operating
Under the 1954 Code an adjustment is made to the loss deduction or special statutory deductions. Re-
tax base for net long-term capital gain inexcess of turns without net income include those with equal
net short-term capital losses. Such gain, less in- income and deductions and those with net deficit.
come tax attributable thereto, is deducted from the Net income or deficit reported on tax returns ex-
net income in computing the undistributed personal cludes tax-exempt income. Data relating to tax year
holding company income. This deduction from undis- 1954 industrial division operationssummarized from
tributed personal holding company income was not made ~returns with net income and returns without net in-
under the 1939 Code but the provisions for maximum come, are given in table D.
tax on capital gain was made effective in the tax Data for returns with balance sheets are shown
computation by the alternative tax. separately becausea few corporations fail to report
Tablo D.-CORPORATION RETURNS WITH OR WITHOUT NET INCOME, BY INDUSTRIAL DIVISION, 1054
Returns with net income Returns without net income

Tots 1
number of Income tax Excess profits tax' Percent Total
Percent Total
Industrial division active of compiled Net income of of compiled Deficit
Number of
corporation receipts Number of Amount Number of Amount returns
Number divisior
total receipts
returns division
returns total returns returns (M--d (Th-d (Th-d
(7~.-d (7k...-d (7?w..-d
d,11-s) dDllar.) I d.11ar.) _ d.11-) ~bll-)
d0l...)
(5) (6) (7) (8) (9) (10) (11) (12) (13)
W (2) (3) (4)
39,572,830 391,522 16,823,241 3,724 37,711 281,628 39.0 70,094,964 3,244,395

All industrial divisions ............... 722,805 "1,177 61.0 484,727,486
54.0 1,831,616 176,168 3,954 65,713 45 56 4,038 46.0 "0,961 53,885
Agriculture p forestry, and fishery ..... 8,779 4,741
55.7 1,842,406 205,135
9,585 4,248 ".3 6,708,513 946,048 3,708 427,464 48 1,250 5,337
Mining and quarrying ................... 40.7 2,815,940 145,944
36,130 21,411 59.3 14,674,881 633,538 19,072 256,353 221 512 14,719
Cc truction . . . .........
120,896 74,608 61.7 240,028,767 19,653,551 66,313 9,451,660 1,507 30,899 46,288 38.3 28,299,156 1,363,686
Manufacturing
, .. . ........ 40.1 5,351,319 269,528
29,122 17,436 59.9 37,010,426 4,709,853 15,193 2,308,655 119 546 11,686
publi utilities ....................... 39.9 25,530,723 708,896
238,523 143,432 60.1 147,772,449 4,356,658 126,554 1,890,522 986 2,320 95,091
Tra de ..................................
Financep insurance) real estate, and .. 32.4 3,326,369 289,323
205,339 138,764 67.6 26,469,350 8,293,140 126,8" 2,093,547 465 643 66,575
lessors of real property ............ 197,015
64,845 34,682 53.5 10,146,869 788,143 28,467 324,432 323 1 485 30,163 46.5 2,446,758
services
Net ...............................
9,586 1,855 19.4 84,615 15,731 1,417 4,895 10, 7,731 , 80. 6 1 41, 332 1 10, 98
ure of business not allocable ....... 1 1 1 1
earned before that date and reported on returns for
'The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report "a the tax on income
annual accounting periods ended July through November 1954 and returns for part years which began in 1953.
2Les a than $500.
asset and liability items. Table E, compiled from from table 1 to table 37. The first sixteen tables
returns with balance sheets, shows total assets, provide tax year 1954 data tabulated from either all
total compiled receipts, and net income or deficit 722,805 active corporation returnscr 667,856 active
classified by size of total assets. Ninety-two per- corporation returns with balance sheets. Tables 7
cent of the returns do have balance sheets and account through 11 and 15 show data separately for returns
for 98.6 percent of the total compiled receipts re- with net income and without net income. Tables 17
ported for 1954. Income statement items for returns through 20, on the other hand, show data tabulated
with and without balance sheets are compared in table only from returns with net income, either the 441,177
3, page 43. Table F relates the net income or def- active corporation returns with net income or the
icit size classification of corporate income tax re- 419,679 returns with both net income and balance
turns and the number in each size group submitting sheet data.
balance sheet information.
Accounting periods covered by returns used f or this Tables 1-20-Categories and Coverage
report are listed under "Sources of Data" and the
accounting period classification is based on the Returns with and without net income
closing month ofthe annual accounting period. Cate- fables Relwws
gories of returns with special tax features are based 1-3, 7-15.. All active corporation returns 722,805
on specific provisions of the Internal Revenue Code
and are discussed in detail in the explanatory text 4-6, 16 .... Corporation returns with bal-
which follows. ance sheets ................... 667,856
Returns with net income
Tabl. B.-OORPORATWN RETURNS IM BALANCE SHERMS BY SIZE OF

TOTAL ASSETS, 1964 17, 18..... Corporation returns with net
Total
Total income ........................ 441,177
Net income
Number of assets compiled
Size of total assets or deficit
returns
(71-d
receipts 19) 20 ..... Corporation returns with bal-
(71i-d (Ih--d
d.11 ... b11_.) d.11... ance sheets and net income .... 419,679
(1) (2) (3) (4)
Under $25,0D0 ........................ 167,604 1,907,385 5,928,725 '123,4(Y7 In tables 21 through 37, separate tabulations are
$25,000 under $50,000 ................ 105,441 3,842,977 8,694,501
$50,000 under $100,000 ............... 117,001 8,430,038 17,606,188
36,314
259,702
made for returns with special tax provisions, active
$100,000 under $250,000 ..............
$250,000 under $500,ODO ..............
134,299
60,354
21,379,449
21,045,815
42,248,919
39,745,048
833,769 corporations filing first returns,and active manu-
964 179
$500,000 under $1,000,000 ............ 33,617 23,491,388 38,903,995 1,211:122
facturing and trade corporation returns.
$1,000,000 under $2,500,000 .......... 24,906 38,817,924 48,549,707 1,901,333
$2,500,000 -der $5,000,000 .......... 10,864 38,121,693 33,774,943 1,719,221
$5,000,000 order $10,000,000 ......... 6,324 " 204,930 32,268,507 1,840,855 Tables 21-37-Categories and Coverage
$10,000,000 under $25,000,000 ........ 4,228 64,938,455 40,121,033 2,871,173
$25,000,000 under $50,ODO,000 ........ 1,493 51,404,436 30,445,884 2,327,125 Special tabulations
,150,000,000 -der $100,000,000 ....... 794 55,544,463 31,400,110 2,629,198
4100,000,000 under $250,000,000 ...... 541 82,875,468 41,778,013 3,738,329
$250,000,000 or more ................. 390 349,295,661 135,535,686 15,887,768
fables Retwns
Total .......................... 1 667,8561 805,300,0821 547,001,2591 36,096,681 21 ......... Manufacturing and trade corpo-
IDeficit. rations, inventory study ...... 359,419
22 ......... Manufacturing and trade corpo-
T*bIe F.-RELATION OF CORPORATION RETURNS WITH BALANCE SHEETS TO ALL ACTIVE
CORPORATION RETURNS, BY SIZE OF NET INCOME OR DEFICIT, 1054 rations with balance sheets,
inventory study ............... 338,621
Returns with net income Returns ~ithout net income
c cent
f Perc nt 23 ......... Corporations filing first re-
Numbe
Size of net 1roo., or defi,it Number
,n.
N m
of returns
f
turns in 1954 ................. 74,095
f
balance -ith balance ~ith
rcturn~ bNumb
b.' Psheets
,:,it'
F'r
rcent
'et of
.n,e
turn returns
f
slance sheets balance
sheets sheets Returns with special tax provisions
(1) (2) (3) (4) (5) (6)
24 ......... Consolidated returns .......... 2,723
Under $1,0W ................... 98,132 88,856 90.5 128,022 98,514 83.5
$1,000 under $2,000 ............
$2,000 -der $3,000 ............
45,647
11,083
42,378
29,452
92.8 33,798 29,687 87.8 25 ......... Consolidated returns with bal-
94.8 21,483 19,317 89.9
$3,000 under $4,000 ............ 22,587 21,572 95.5 15,581 14,044 90.1 ance sheets ............. ..... 2,652
$4,000 under $5,000 ............ 18,868 18,064 95.7 11,627 10,678 91.8
$5,000 under $10,000 ........... 58,819 56,809 96.6 32,948 30,221 92.0 26 ......... Consolidated returns with net
$10,000 under $15,000 .......... 36,010 35,058 97.4 14,834 14,001 94.4
$15,000 under $20,000 .......... 25,399 24,764 97.5 8,292 7,909 95.4
income ........................ 1,510
$20,000 under $25,000 .......... 24,420 23,945 98.1 5,167 4,841 93.7
$25,000 under $50,000 .......... 35,39? 34,696 98.0 11,044 10,466 94.8 27 ......... Consolidated returns with bal-
$50,000 -der $100,000 ......... 18,877 18,575 98.4 5,213 qq.3
$100,000 under $250,000 ........ 13,805 13,599 98.5 2,478
4,967
2,157 q5.1
ance sheets and net income .... 1,478
$250,000 -der $500,000 ........ 5,399 5,316 98.5 747 702 9~ 0
$500,000 under $1,000,000 ...... 2,953 2,874 97.3 204 253 95 8 28-30 ...... Corporation returns with for-
$1,000,000 under $5,000,00C .... 2,889 2,839 -1.3 299 191 96.0
$5,000,000 under $10,000,000 ... 432 424 98.1
eign tax credit ............... 3,215
21 20 95.2
$10,000,000 or more ........ 460 458 1 99. 6 1 101 9 1 90.0
1
Total .................... ~44 1, I'll 1 419,679 1
31-33 ...... Western Hemisphere trade cor-
95.1 1 281,6281 248,177 1 ~8.1
poration returns .............. 687
34-37 ...... Active personal holding com-
Description of Tables pany schedules ................ 3,818
The number of returns covered in the tabulations In all tables, values in thousand dollars were
in this volume tends to decrease asthe reader moves rounded and, therefore, may not add to the totals.
Industry Measurements Improvements in the corporate income tax return

form made it possibletotabulate an expanded corpo-
The Standard Industrial Classification issued by rate balance sheet for tax year 1954. Categories of
the Office of Statistical Standards, Bureau of the assets were added to show the distribution of cor-
Budget, Executive Office of the President, has been porate portfolios of Government obligations between
adapted for use in this volume. Since the Standard obligations of the United States and other govern-
Industrial Classification is designed on an estab- mental units, the amount of prepaid expenses and
lishment basis, it has been necessary to reduce supplies, corporate evaluation ofdepreciable assets
greatly the number of groups and to make changes in and accumulated amortization ordepreciation, deple-
the contents of groups in orderto adaptthe Standard table assets and accumulated depletion, and the net
Classification tothe corporation income tax returns value of intangible assets. Liability items have
which are filed on an ownership basis. The classi- been added to indicate the amount of accrued expenses,
fication in this volume is unchanged from that used corporate prepaid income,and reserves for estimated
for tax year 1953. Under the heading,"Comparability expenses. The two latter liability items were sup-
of Historical Data,, page 142, there is a brief de- plied in connection with taxpayer elections permitted
scription of earlier revisions made for'Statistics under 1954 Code sections 452 and 462 prior to their
of Iticome tabulations of major industry data. repeal on June 15, 1955.
Industrial classification of each return was de- Table 3 links the itemized income statement data
termined by the business activity reported thereon summarized from 722,805 active corporation returns
and by the source accounting for the largest per- (table 2) with the itemized summary of balance sheets
centage of the total receipts. Because manycorpora- and income statement items submitted on 667,856 ac-
tions, virtually all of the large ones, carry on tive corporation returns bypresenting totals for
business in more than one ofthe some 225 recognized income statement items (1) for all returns, (2) for
classes, the classification of corporation data by returns with balance sheets, and (3) for returns with
industry is necessarily subject tomany limitations. no balance sheets. Balance sheet data s h ow n in
Year-to-year changes in the classification of spe- Statistics of Iricome are tabulated as of the end of
cif ic corporations result frcm mergers, other altera- the corporate accounting period covered by the tax
tions in corporate structure,and from the privilege return. This holds for the assets and liabilities
of filing consolidated returns. For 1954, revisions of a corporation into which one or more other cor-
in the law with respect to consolidated returns may porations have been merged during the tax year,
have resulted in a greater than usual number of though the related income statement items tabulated
shifts ofcorporation data from one industrial group in this case exclude data for a part year period
to another. Such factors are reflected in the 1954 prior to its merger reported on a tax return sub-
data for the communications category, for example, mitted separately by an acquired corporation. In
which contains sales formerly included in manufactur- such cases,if the return from the acquired corpora-
ing. tion covers a period with agreater number of months
The industry classification in tablel is the most in calendar year 1954, it is tabulated as a return
detailed grouping used in this volume. Based on tax without balance sheet data.
year 1954 returns for all active corporations,table The classification of items as they appeared on
1 shows the number of returns classified in each of the taxpayer's returnwas revised when available in-
282 industry groups and totalsand provides the fol- formation warranted achange to fit the standardized
lowing summaries for each group: receipt, deduction, asset, and liability categories
used in the tabulations. Revised editing procedures,
Total compiled receipts particularly for returns in the finance area,lessen
Gross receipts from sales and from operations item by item comparability of 1954 with prior pe-
Cost of goods sold and of operations riods.
Net income or deficit In the financial division, data compiled from re-
In addition to the foregoing financial measure- turns classified under the major group "Insurance
ments, table 1 contains data on the income tax and carriers and agents" are affected by provisions of
excess profits tax liabilities shown onreturns with law with reference tolife and mutual insurance com-
net income. panies. Life insurance companies report only their
Major industry receipts, deductions, assets and investment income, i.e., interest, dividends, and
liabilities, itemized as indicated on page 44,, are rent, and may deduct only expenses incident thereto
presented in tables 2, 4, 18 and 19. Classified in and wholly tax-exempt interest in arriving at net
the 65 major groups, itemized receipts and deductions income. The deductions reported are taxes and de-
on all active corporation returns are tabulated in preciation,tabulated under their respective titles,
table 2 together with major industry compiled net and investment and real estate expenses, tabulated
profit or loss,net income or deficit, net operating as "Other deductions." Mutual insurance companies
loss deduction,taxes,compiled net profit less total report these items and, in addition thereto, net
tax,and dividends paid. Parallel tabulations of in- gain from sale or exchange of capital assets, in-
come statement items, but limited to returns with terest paid,and capital losses sustained in meeting
net income,are provided in table 18. Table 4, which dividend and insurance claim payments. Capital
is based on returns with balance sheets, provides losses are included with "Other deductions."
figureson major industry assets and liabilities and Computation of life and mutual insurance company
related income, deduction, and tax items. In table taxable income also differs somewhat from that for
19 the items covered are similar to those intable 4 other corporations shown in "Explanation of Terms,"
but the summary is restricted to returns ofcorpora- page 28 , and Synopsis of Federal Tax Laws, page
tions with balance sheets and net income. 187. Life companies deriving a portion of their
income from contracts other than life insurance, to interest receiptson Government obligations. Div-
annuities, or noncancelable health and accident in- idends received from domestic and foreign corpora-
surance make an upward adjustment in computing in- tions are tabulated separately for 17 income size
come for tax purposes for certain nonlife insurance classes. The data in this table distinguish between
reserves. The amount of this adjustment for 1954, interest received on Government obligations which is
shown in table G, is $27,737,000. Life companies wholly taxable, subject to surtax only, and wholly
earning less than 105 percent of their required in- tax-exempt. These different classes of interest re-
terest are allowed a reserve interest credit, com- ceipts are described briefly on page 25.
puted under provisions of section 805 of the 1954 Table 10 is devoted to the $13.3 billion in divi-
Code. This special adjustment for 1954 amounted to dends paid by all active corporations. It contains
$15,777,000 and is also shown in table G. Neither net income and deficit size distributions ofdata on
life nor mutual insurance companies are allowed a returns with dividends paid of the following types:
net operating loss deduction.
Special provisions affecting insurance industry (1) Only cash and assets other than own stock
(2) Only corporation's own stock
tax are reviewed in the Synopsis of Federal Tax Laws,
(3) Both cash and assets other than own stock,
pages 188 and 189.
and corporation's own stock
Table 15 relates net income or deficit size and
TWe G.-SPECIAL ADJUSTMENTS MADE BY LIFE INSURANCE COMPANIES IN COMPUTING corporate accounting period through separate size
TAXABLE INCOME, 1954
distributions for 293,003 active corporate returns
for annual noncalendar year accounting periods and
429,802 active corporate returns which covered cal-
Number of life insurance company returns ..................... 47
endar and part year accounting periods.
Income size distributions are also available for
Number of life insurance company returns with balance sheets. 17
returns with foreign.tax credit (table 30) and for
Adjustment for certain nonlife insurance reserves:
Western Hemisphere trade corporation returns (table
Returns with and without balance sheets:
Number of returns ........................................ 4 33).
.unt ................................. thousand dollars.. 18
Brief descriptions of the deductions attributable
Returns with balance sheets:
Number of returns ........................................ 3 to dividends for tax purposes are contained in the
Amount ................................. thousand dollars.. is "Explanation of Terms," page 24, and Synopsis of
Reser~e interest credit: Federal Tax Laws, page 187.
Number of returns.. ......................................
Amount ................................. thousand dollars..
Returns th be lance sheets: Dividends Summary
Number wiof retur. ........................................
Amount
................................. thousand dollars..
In addition to the net income size distributions

of dividends received and type of dividends paid in
Asset Size and Income Size Distributions tables 7, 9, and 10,which are described immediately
above, table 11 contains data on cash dividend pay-
Data on corporate returns with balance sheets are ments separately for returns with net income and re-
classified by asset size in tables 5, 6, 16,and 20. turns without net income,classified among 17 indus-
In table 5 data for seventy-one items from corporate trial categories. Tables 2 through 5,and 18 through
balance sheets and income accounts are distributed 20 provide data on the value of dividends paid (1)
among 14 asset size classes. Table 20 provides sim- in cash and assets other than own stock, and (2) in
ilar item detail for returns with balance sheets and the corporation's own stock. In the latter seven
net income. Table6 shows seventeen selected balance tables,dividend data are classified either by major
sheet and income statement items by asset size within industry group or asset size. In table 6 dividends
each of the major industry groups. Table 16 relates paid in cash and assets other than own stock are
asset size and corporate accounting period. For classified by both industry and asset size. Chart 3
667,856 returns with balance sheets, separate asset shows the percentage composition ofdividend distri-
size distributions are made in table 16 for 282,762 butions arising inthe various industrial divisions.
returns pertaining to annual noncalendar year ac-
counting periods, and for 385,094 returns covering
calendar and part year accounting periods. Accounting Periods and Methods
Corporation data are classified by net income or
deficit size in tables 7, 8, 9, 10,and 15. Table 7, Tables 14, 15, 16,and 17 deal with the accounting
based on returns for all active corporations, shows period characteristics of the major industries and
industrial division net income,taxes, and dividends income and asset size groups. Table 14 summarizes
paid distributed separately by size ofnet income or industrial accounting period data from returns with
deficit for returns with net income and returns with and without net income,and table l71srestricted in
no net income. Table 8 provides net income size coverage to returns with net income. Table 16 data
classification data on type of tax liability compiled on assets are restricted to returns with balance
for all active corporate returns, including a sepa- sheets.
rate summary for returns sbowing the alternative in- Table Hbelow presents summary data relative tothe
come tax liability (defined on page 23). Table 9 distribution of all returns, returns with net income~
presents distributions which relate net income or and returns without net income among corporate ac-
deficit size to the source of dividend receipts,and counting periods in tax year 1954.
CORPORATION INCOME TAX RETURNS FOR 1954 19.
CORPORATION RETURNS, 1954

Table H.-NET INCOME OR DEFICIT, AND TAXES, BY MONTH IN WHICH ANNUAL ACCOUNTING PERIOD ENDED-ALL ACTIVE
Returns without net
Returns with net income income
Total Income tax Excess profits tax'

Accoun ting per i o d ended number of -
Number of Net income Number of Deficit
returns Amount Number Amount returns
returns Number of
(Th..: '.)
-d returns (Th.-d returnsof Th.-d (77w ....d
&11 d0l.") dDII-) d.11ars)
(2) (3) (4) (5) (6) (9)

Annual returns: 8,813 8,125 76,479
20,627 12,502 540,158 10,956 241,982 603
July 1954 ............................................................ 8,158 94,818
21,118 12,960 527,896 11,315 233,810 599 6,647
August 1954 .......................................................... 12,949 175,687
32,238 19,289 951,399 16,898 410,705 1,046 13,384
September 1954 ....................................................... 9,268 125,181
23,532 14,264 863,506 12,471 363,332 r 646 3,944
October 1954 ......................................................... 80,429
16,716 10,635 751,388 9,490 331,818 642 4,591 6,081
November 1954 ........................................................
1,020,670 12,128 472,264 - - 8,074 87,068
January 1955 ......................................................... 21,855 13,781
459,830 10,585 197,826 - - 7,962 69,903
February 1955 ........................................................ 20,147 12,185
19,428 32 3, 9 1 0 - - 13 , 886 137 , 762
March 1955 ........................................................... 36,447 22,561 769,755
25,646 16,104 559,846 13,708 227,522 - - 9 542 82,560
April 1955 ........................................................... - - 81700 87,517
23,741 15,041 533,100 13,050 226,599
May 1955 ............................................................. - 180,0`75
50,936 33,471 1,388,750 29,326 599,163 - 17,465
June 1955 ............................................................
182,793 8,366,298 159,355 3,628,931 3,536 37,379 110,210 1,197,479
Total, noncalender year periods ................................ 293,003
241,112 30,731,082 215,893 12,995,199 - - 145,297 1,803,206
December 1954 ........................................................ 386,409
475,450 16,274 199,111 188 332 26,121 243,710

part year returns ...................................................... 43,393' 17,272
391,522 16,823,241 3,724 37,711 281,628 3,244,395

Total ........................................................... 722,805 441,177 39,572,830
report was the tax on income earned before that date and reported on returns for
1The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this
and-the gross assets reported on returns in which

inventory data for both beginning and end ofthe ac-
Chad 3.-TYPE Of DIVIDENDS PAM BY INDUSTRY, TAX YEAR 1954 counting period were given. Table 22 for the same
(Percentage Distribution)
sectors summarizes beginning and ending inventory
F] OWN STOCK N ASSETS OTHER THAN
CASH CASH OR OWN STOCK data by the month in which the accounting period
ended.
Chad 4.-MANUFACTURING AND TRADE CORPORATION INVENTORIES AT BEGINNING

AND END OF TAX YEAR 1954
(Returns ith both beginning and ending inventories reported)
Billions of dollars Billions of dollars
50 1 1 50
Tables12 andl3provide measurements regarding in-

ventory valuation methods and major industry corpo-
ration accounting usage of cash, accrual, and other
accounting methods. The data on accounting methods
are based on answers to questions contained on the
income tax return (facsimilepagel95) and are prob-
MANUFACTURING WHOLESALE TRADE RETAIL TRADE
ably characterized by a substantial amount of non-
response. Tables in Statistics of Income volumes for
1945 and 1946 provide data on accounting methods used
in these periods and atablein the 1950 volume shows
the basis of valuing inventories then used bycorpo- Charts 4 and 5 relate to the special inventory
rations. tabulations. Chart 4 is based on information in table
21 compiled from tax year 1954 returns from manufac-
turing and trade corporations reporting the value
Inventories of inventory at the beginning and end of their ac-
counting period. Tax year 1954 gross sales shown
There are two special tables in this volume which in chart 5 and in table 21 are compiled from data
provide beginning and ending inventory data for tax on all tax year 1954 returns classified in manufac-
year 1954 as reported on 268,547 returns classified turing and trade activities. Statistics of Income
in manufacturing and trade. Table 21 relates both for 1953, Par t 2, is the source f or 1953 gross sales
beginning and ending inventories to the gross sales data.
classes of stock, and (2) at least 80 percent of

Ckart 5.-GROSS SALES OF MANUFACTURING AND TRADE COVORATIONS each class ofnonvoting stock (except stock which is
FOR TAX YEARS 1953 AND 1954 limited and preferred as to dividends). Inaddition,
(All active manufacturing and trade corporation returns)
Billions of dollars
these same proportions of the stock of each other
- Billions of dollars
300 F___ 1 300 member of the group must be owned by one or more of
1953
the corporations within the group.
These stock ownership requirements area sharp re-
250 duction from the 95 percent ownership required in
each instance under the 1939 Code and will account
for some change in both the number of consolidated
200
returns filed and in the number of subsidiary com-
panies. Corporate changes to or from a consolidated
return basis affect comparability of data in each
150
classification into which the individual companies
or affiliated group would normally fall.
New elections, generally available because of the
100
enactment ofthe 1954 Internal Revenue Code,may also
affect comparability of 1954 data with that for other
years. The third table in the Synopsis of Federal
50
Tax Laws, page 186, describes the type of corpora-
tions which may elect to file consolidated returns,
1945 through 1954,and the conditions under which an
MANUFACTURING WHOLESALE TRADE RETAIL TRADE election ceases to be binding for future tax years.
Table C provides a comparison of the number of con-
solidated returns (equivalent to number of parent
corporations), and number of subsidiaries for 1953
New Businesses and Successor Businesses and 1954, by industrial division.
Table 23 presents data derived from answers to

question l,page 3 of the corporation income tax re- Foreign Tax Credit Claimed
turn form for 1954 or the incorporation date (see
facsimile, pages 193-5) . The "Explanation of Terms, 11 A credit for foreign income and excess profits
page 25, provides material helpful in interpreting taxes of $726 million was claimed by 3,215 corpora-
this table. Similar data for prior years are avail- tions against their 1954 income tax liability of $7
able in Statisti'cs of Income, Part 2, for 1945 and billion. Only domestic corporations with a current
1946. year United States income tax liability can claim
this credit for taxes paid to foreign countries or
Consolidated Returns United States possessions.
Credit claimed for taxes paid toa foreign country
A single return may contain financial data for two or United States possession cannot exceed the amount
or more closely related concerns. Affiliated groups of United States tax allocable to income from such
electing to file consolidated returns are subject country or possession determined by using the ratio
to an additional surtax of 2 percent of taxable in- of taxable income from the foreign source to total
come computed (1) before deductionof partially tax- taxable income. For returns with accounting periods
exempt interest,and (2) by excluding taxable income ended in the period July through November 1954 used
of regulated public utilities andWestern Hemisphere in preparing this report, a further limitation was
trade corporations. In tabulating corporation sta- effective under the 1939 Code. For these returns
tistics,a consolidated return is treated as a unit, the total credit against income tax was limited to
each classification being determined onthe basis of the same proportion of total income tax as taxable
combined data. income from all sources outside the United States
Data for 13,139 corporations (2,723 parent corpo- was to total taxable income. Foreign taxes not off-
rations and 10,416 activeand inactive subsidiaries) set against the income tax could be claimed as a
were reported on 2,723 returns and included in all credit against excess profits tax subject to two sim-
tabulations in this volume. Tables 24 through 27 ilar limitations based on excess profits net income
show detailed financial data f romconsolidated re- and tax. Since only small amounts of excess profits
turns separately. These corporations account for tax and credit were reportedinl954,they were added
around 12 percent of all corporate receiptsnet in- to the income tax and credit to obtain the United
come, tax, and total assets reported. Only in the States tax and foreign tax credit claimed tabulated
industrial division "Public utilities" does thepro- for this report.
portion of consolidated data rise much above this Tables 28, 29, and 30 show the amount of credit
average. In this division consolidated return data claimed against United States taxes, together with
amount to about 50 percent of the total. related income and tax data, distributed by major
Corporations included in an affiliated group for industry group, size of total assets, and size of
tax purposes must be connected through stockowner- net income.
ship with a common parent corporation which owns Corporations claiming foreign tax credit are re-
stock of at least one member of the group equal to quired to file supporting statements on Form 1118
(1) at least 80 percent of the voting power of all showing taxable income f rom foreign sources and total
foreign taxes paid. Statements for 2,422 corpora- foreign income,incometax before foreign tax credit,
tions were available for tabulation. These corpora- foreign taxes paid, and credit claimed for foreign
tions reported 92 percent of the net income and 87 taxes paid reported by 687 companies. The data were
percent of the foreign tax credit reported by the tabulated by (1) industry groups, (2) size of total
3,215 corporations using the credit in 1954. assets, and (3) size of net income or deficit. In-
Some dividends tabulated as income from foreign come and tax datain these tables are not fully rep-
sources may be from income earned by a foreign cor- resentativeof Western Hemisphere trade corporations
poration in the United States as defined in section since aggregate data from 41, predominantly large,
861 of the 1954 Code. Taxes attributable tothe por- consolidated returns of affiliated groups were in-
tion of such dividends taken as a dividend received cluded in the tabulations. Data from a consolidated
deduction under section 245 cannot be credited return are included if any member of the affiliated
against the United States tax. Dividends from for- group qualifies asa Western Hemisphere trade corpo-
eign sources are tabulated from Formll20, schedule C. ration although in many cases the 6onsolidated report
In addition to direct taxes paid foreign countries reflects onlyasmall amount of Western Hemisphere
on dividends, domestic corporations owning 10 per- trade corporation experience. It was not possible
cent or more ofthe foreign payor corporation's vot- to segregate data for the individual affiliates.
ing stock may claim credit for taxes paid on income The 41 consolidated returns used in preparing the
from which the dividends were derived. This pro- 1954 data are almost doublethe22 such returns used
vision includes taxes of a foreign subsidiary in in tabulating the 1953 Western Hemisphere trade cor-
which the payor corporation owns 50 percent or more poration data. This increase may resultin part from
of the voting stock. the change in definition of affiliated corporations
Also treated as dividends for purposes ofthe for- includible in a consolidated return. (See page14
eign tax credit are amounts, in excess of costs, f or change in def inition and ef f ects on comparability
paid (under a contract and in lieu of dividends) to of data.)
a domestic corporation by awholly owned subsidiary, The best available measure of Western Hemisphere
engaged in manufacturing.production, or mining, for trade corporation activity available in the tabula-
goods or services furnished by the parent corporations is the Western Hemisphere trade corporation
tion. deduction. This $141 million deduction, based on a
All corporations not claiming aforeign tax credit statutory allowance of approximately 27 percent of
can take foreign taxes paid as anordinary deduction taxable Western Hemisphere trade corporation income,
in computing net income but these taxes are not iden- indicates that the amount of taxable income earned
tifiable onthe return. Corporations organized under by these companies in 1954 was about $522 million.
the China Trade Act, 1922, and corporations receiv- (Taxable income as used here is defined as current
ing sufficient gross income from sources within a year net income less net operating loss deduction,
possession of the United States toreceive the bene- partially tax-exempt interest, dividends received
fits of section 931 of the 1954 Code are treated as deduction, and in the case of a public utility, the
foreign corporations and denied the use of the for- dividends paid deduction. Interest and dividends
eign tax credit. received deductions should be comparatively small,
Data similar to that published in tables 28, 29, however,since,by the definition given above,90 per-
and 30 were published in volumes of StatistIcs of cent of gross income mustbe from trade or business.)
Income, Part 2, for 1950, 1951, and 1953. Form 1118 filed in support of the credit claimed
f or f orei gn taxes paid provides the only data avai 1-
Western Hemisphere Trade Corporations able with respect to taxable income other than div-
idends f rom f oreign sources and the amount of foreign
A Western Hemisphere trade corporation is defined taxes paid. Data are shown separately for the 256
by the Internal Revenue Code as a domestic corpora-
returns for which the form was available. Dividends
tion (1) all of whose business (except incidental from foreign sources tabulated for these same cor-
purchasing) is done in North, Central, or South porations are dividends received from foreign corpo-
America, or the West Indies; (2) 95 percentormore
rations reported on Form 1120, schedule C.
of whose gross income for the 3-year period ending Almost half, or 332, of the Western Hemisphere
with the closeof the taxable year (or for such part trade corporations do not claim credit for foreign
of the period as the corporation was in existence) taxes. Over 80 percent of these corporations are
was derived from sources outside the United States;
engaged in trade.
and (3) 90 percentor more of whose gross income for Seventy-seven returns showed no net income. This
such period was derived from active conduct of a
number andthedeficits tabulated are probably under-
trade or business.
stated since Western Hemisphere trade corporations
Western Hemisphere trade corporations are granted
are frequently identifiable only by their special
a tax concession in the form of a deduction from deduction from taxable income.
taxable income equal to approximately 27 percent of Similar tabulations for Western Hemisphere trade
such income. Their income was exempt from excess corporations are available for 1950, 1951, and 1953
profits tax (applicable to returns for tax years
in StatistIcs of Income, Part 2, for those years.
ended July through November 1954 used for this
report), and, when included in the income of an af-
filiated group filinga consolidated return, is ex- Personal Holding Company Schedules
empt from the 2 percent additional tax imposed on Supplementary data for personal holding corpora-
consolidated taxable income. tions subject to additional tax on undistributed
Tables 31, 32, and 33 show the net income or def- personal holding company incomeunder section 541 of
icit, Western Hemisphere trade corporation deduction, the 1954 Code are presentedintables 34 through 37.
These tables show the computation of the undistrib- Table I.-PERSONAL HOLDING COMPANY INCOME AND TAX, 1954
uted personal holding company income from the net

Returns with Returns without
income base, additional personal holding company tax, Number of
undistributed undistributed
Item personal personal
sources of personal holding company incomeand size returns
holding company holding comp' ny
of companies basedonamount of personal holding and income income
(77- 11.1.) (77-d
undistributed personal holding company income. Data .!!~~
2 (3)
are from schedule PH of the return Form 1120.
Personal holding company income ............ 3,097 16,740 277,904
Personal holding companies are those with five or
Corporate net income ....................... 2,862 15,607 246,108
f ewer individuals owning or controlling over half the -
Corporate net deficit ...................... 956 5,892
valueof outstanding stockand with at least 80 per-
Undistributed personal holding company
cent of gross income consisting of personal holding income.. .................................. 273 i,488 147,192
-
company incomeas defined in "Explanation of Terms," Personal holding company tax ............... 273 1,253
page 26. 'Deficit.
The 1954 data do not represent a full coverage of

personal holding companies for tax years ended July
1954 through June 1955 because of changes resulting DESCRIPTION OF THE SAMPLE AND LIMITATIONS
from enactmentofthe Internal Revenue Code of 1954. OF DATA
Tabulation of combined data from the report forms The population. -The population consisted of 754,019
filed under the provisions of the 1939 Code and those corporation income tax returns with accounting per-
filed under the 1954 Code was not feasible. There- iods ended between July 1, 1954 and June 30, 1955.
fore, the data tabulated for this volume were taken This figure includes returns filed on Forms 1120,
from the return Form 1120, schedule PH, filed under 1120L, and 1120M. It includes 31,214 returns of
the provisions of the 1954 Code. Some returns filed inactive corporations and 43,393 part year returns.
for years taxable under the 1954 Code were filed in On the other hand,it excludes returns filed on Form
error on the 1953 return form and are excluded. The 1120H by personal holding companies. It also ex-
number of returns of active corporations filed on cludes amended returns not associated with anorigi-
the 1954 form and usedin the tabulations was 3,818. nal return, and returns which were received after
In using 1954 data with that for prior yearscom- the cut-off date of the tabulation.
parability of items, affected by enactment of the The sample design.-The sample design was charac-
1954 Code, should be determined through use of the terized by stratification, optimum allocation, and
definitions of items provided in each volume and the use of prescribed serial number endings to desig-
through the "Changes in Law Affecting 1954 Data" nate sample returns.
sectionof this volume. One of the principal changes The population was stratified by type of return,
in comparability of undistributed personal holding by volume of business, by tax status, that is by
company income results from the elimination of net taxable ornontaxable returns,and by the 64 district
long-term capital gains in excess of the income tax offices. Returns for consolidated corporations,life
thereon from the tax base (table 34). Personal insurance companies,mutual insurance companies, and
holding company tax, however, is little affected by those with overpayments of tax were included 100 per-
this change since both laws provide a maximum tax cent. Other returns in the population were strati-
on net long-term capital gain. fied by volume of business into large, medium, and
small according to the following definitions.
Tables 35 through 37 provide data not heretofore 1. Large returns were those with gross sales.,gross
tabulated. Prior to 1954 the personal holding com- receipts, or total income of $500,000 or more.
pany tax return did not require reporting of the 2. Medium returns were thosein which at least one
personal holding company income by sources (table 35). of the items-gross sales, gross receipts, or
Personal holding company income was tabulated from total income-was between $100,000 and $500,000,
3,097 of the 3,818 personal holding company schedules but none $500,000 or more.
since some companies failedto complete the required 3. Small returns were those with gross salesygross
data. Receipts from personal holding company income receipts, and total income each less than
sources were included in the computation of net in- $100,000.
come for income tax purposes (tables 1 through 33). The sample size,sample rates, and estimated popu-
Tables 36 and 37 provide income size measurements lation for the volume of business and type of return
based on personal holding company income and undis- stratification are given below:
tributed personal holding company income. Neither
1954 Corporation Sample
of these classifications is comparable to the clas-
sification by s i z e of subchapter A net income, smple Sampling Estinated
Strata size rate population
defined in Statistics of Income for 1952, used in
Special:
prior years. 1120 with Sch. PH.. 11,029 11.00 11,029
1120 L ............. 1,113 1.00 1,113
Table I provides a summary of personal holding ~5j
company tax data. By law personal holding company
1120 M.-
1120 con~6iidii~d:: 12,Bl 111:88 12, 2
income constitutes 80 percent or more of the gross Large ........... 107,248 1.00 107,248
incomeof the 3,097 companies showing sourcesof such Medium ........ 37,889 0.20 189,445
income. Corporate net income or deficit, for all Small ......... 45,171 0.10 451,710
personal holding companiesis the base used in com- 195,924 754,019
puting undistributed personal holding company income 'A few of these returns fell In the strata of small and medium
on which the personal holding company taxis paid. returns and were weighted accordingly.
The method of estimation.-The method of estima- surtax at the usual rates on the balance of taxable
tion was that of using the inverse of the sampling income, and was reported only if it was less than
rate after the sample size had been adjusted to cor- the regular normal tax and surtax. Alternative tax
rect for any undersampling or oversampling which was tabulated in "Income tax." The maximum tax rate
might exist in a district office. The adequacy of for net long-term capital gain reducedby net short-
the sample size was tested by applying appropriate term capital loss was reduced from 26 percent to 25
sampling rates to the number of returns of various percent for taxable years beginning on or after
types processed by each district office,and compar- April 1, 1954. 'For returns used in compiling this
ing this expected sample size with the number of report, this change applied only to returns with
sample returns actually received. If the number of fiscal years ended in the period March through June
sample returns was insufficient the weight was kept 1955. (See Synopsis of Federal Tax Laws, 1945-1954,
at the inverse of the sampling rate by duplicating Table Afor maximum tax rateon long-term gain prior
the required number of sample returns. Past year to 1954.)
sample data were also used as a basis of validating Amortization.-Amortization deduction items are
the sample. listed under "Depreciation and amortization" and de-
Sampling variability.-The area of 100 percent scriptions of new items are given in "Changes in Law
coverage is large and therefore the sampling error Affecting 1954 Data." Accumulated amortization for
on an overall basis for amount of total assets is depreciable assets for fiscal years endedin the pe-
only a fraction of 1 percent. riod July through November 1954 was not shown sepa-
The maximum sample variabilityinthe basic totals rately on the balance sheet schedule of returns filed
for all industry groups and asset sizes combined are for those years but was included in "Accumulated de-
as follows: preciation."
Percent Assets and liabilities were tabulatedas of Decem-
ber 31 of the tax yearor close of fiscal year near-
Total number of returns ........ +0.25 est thereto. Adjustments were made in tabulating
Total net income ............... :Tb.10 the data as follows: (1) reserves for depreciation,
Total deficit income ........... :~b.70 depletion, bad debts, etc., reported under liabili-
Total assets ................... :~]O.25 ties, were transferred to the appropriate asset
reserve accounts, and (2) deficits in surplus, re-
These limits will be exceeded in the long run in ported under assets,were transferred to liabilities
about 5 out of 100 similar samples of the 1954 cor- as negative amounts. Beginningin 1952 the liability
poration returns. items "Accounts payable" and"Capital stock, common"
The sampling error for the various characteristics are overstated in the Finance Divisionmajor industry
for the industry groups with the smallest frequen- group "Credit agencies other than banks," due to
cies-forestry, anthracite mining, tobacco manufac- taxpayer reportingof some savings and loan associa-
turing, and ordnance and accessories-are extremely tion savings accountsassuch liability items rather
small because the large corporations included 100 than as "Other liabilities" where they were typi-
percent account for most of the very small money cally reported.
values as well as for 75 percent or more of gross Bonds, notes, mortgages payable.-The quality of
sales. the published data f or 1954 as tabulated by maturity
Nonsampling errors.-In additionto sampling vari- date is subject to inconsistencies in definition.
ability the data are subject to certain biases due The balance sheet schedules of the two return forms
to processing, incomplete coverage, and taxpayer used for this report differed in that one requested
errors since the data were 'derived from unaudited classification of these obligations by original ma-
returns. Control over coverage was exerted through turity date, while the other requested classifica-
an extensive system of sample management. On an tion by time of maturity from date of the balance
overall basis, the amount of bias in money amounts sheet. Thus, data for obligations with maturity of
of income or deficit as estimated from audited re- less than 1 yearwhile principally short-term obli-
turns exceeds the sampling variabilities given above. gations, may contain some long-tern, obligations
nearing maturity, and the item for obligations with
maturity of one year or more may contain obligations
EXPLANATION OF TERMS with maturity within one year.
In table 6 "Bonds and mortgages payablellare those
The following definitions apply particularly to current tabulated as I'Maturity of one year or more."
year data but in most instances are also applicable to items In historical table 41, data for years prior to
shown in the historical tables 38-43. When used with his- 1954 were classified according to the original ma-
torical data, the "Cowparabilityof Historical Data," pages turity date.
142-5 and Synopsis of Federal Tax Laws, pages 181- 190 should Capital assets less reserves in table 6 include
also be consulted. Facsimiles of the return forms for 1954 depreciable, depletable, and intangible assets plus
referred to in the explanatioas are shown on pages 191-222. land, reduced by accumulated amortizationdeprecia-
tion, and depletion.
Accounts and notes payable, shown in table 6, Capital gain or loss is the gain or loss from sale
consists of amounts tabulated as bonds, notes, and or exchangeof "capital assets" as defined by'section
mortgages payable with maturity of less than 1 year 1221 of the 1954 Code, and the aggregate net gain
and accounts payable. from sale or exchange of certain "property used in
Alternative tax consists of a tax of 26 (or 25) the trade or business" and from involuntary conver-
percent of net long-term capital gain reduced by any sion of such property andof "capital assets" held
net short-term capital loss, plus normaltax and for more than 6 months.
An alternative tax maybe computed for returns with Credit claimed for foreign taxes paid and state-
a net long-term capital gain in excess of net short- ment filed in support thereof.-See text, page 20.
term capital loss. Deficit.-See "Net income or deficit." below.
Losses from sale or exchange ofcapital assets are Depletion.-The 1954 Code increased the depletion
allowed only to the extent of capital gains, but a allowance for a number of minerals. See "Changes in
net capital lossreduced by capital gains in inter- Law Affecting 1954 Data." These increases were not
vening years, may be carried over to the five succeed- ef fective with respect to the depletion deduction and
ing taxable years. An aggregate net loss from sale accumulated depletion (balance sheet) reported on
or exchange of "property used in the trade or busi- returns for fiscal years ended July through November
ness" and from involuntary conversion of such prop- 1954 which were used in preparing this report.
erty and of "capital assets" is treated as an ordi- Depreciation and amortization.-Se'e "Changes in
nary loss. Law Affecting 1954 Data" for methods of depreciation
In computing capital gains and losses- and amortization allowances authorizedby the Inter-
"Capital assets" (as defined by section 1221) con- nal Revenue Code of 1954 which affect comparability
sists of all property held by taxpayer except: (1) of this deduction and the accumulated amounts (bal-
property properly includible in inventory, or prop- ance sheet) with similar data for other years.
erty held primarily for sale in the ordinary course Amortization includes deductions taken in lieu of
of trade or business; (2) depreciable and real prop- depreciation for emergency facilities (section 168
erty used in trade or business; (3) accounts and of thel954Code)and grain storage facilities erected
notes receivable acquired in the ordinary course of after December 31, 1952 (section 169), plus deductions
trade or business for services rendered orfrom sale taken for researchcrExperimental expenditures capi-
of property includible in inventory or ordinarily talized but not subject to depreciation (section 174),
held for sale; (4) Government obligations issued on mine exploration and development expenditures amor-
or after March 1, 1941, on a discount basis and pay- tizable under sections 615 and 616, and organiza-
able without interest at a fixed maturity date not tional expenditures amortizable under section 248
exceedingl year from date of issue; and (5) certain of the 1954 Code.
copyrights, literary, musical, or artistic composi- Accumulated depreciation includes accumulated
tions or similar properties. amortization reported for fiscal years ended in the
"Pr9perty used in the trade or business" means real period July through November 1954.
property and depreciable propertyused in the busi- Dividends from foreign sources, in tables 28-33,
ness and held fo r more than 6 months (but not certain are those from foreign corporations reported in
copyrights, etc.), and certain timber, coal, unhar- column 4 of schedule CForm 1120,and do not exclude
vested crops, and livestock. dividends deducted from the net income under sec-
"Short-term" pertains to gains or losses from prop- tions 245 and 246 of the 1954 Code. Foreign tax
erty held 6 months or less; "long-term" to property credit is available only for taxes paid an dividends
held over 6 months. from foreign corporationsin excess of the deduction
Capital gains and losses are treated historically taken under these sections.
in table B, of the Synopsis of Federal Tax Laws. Dividends paid in cash and in assets other than
Capital stock shown in table 6 consists of both own stock exclude liquidating dividends.
preferred and common stock. Dividends received. -"Dividends, domestic corpora-
Compiled receipts.-See "Total compiled receipts." tions" consist of dividends received from domestic
Consolidated returns are defined in text,page 20. corporations subject to income taxation under chap-
See also Synopsis of Federal Tax Laws,1945-54,table ter 1 of the Internal Revenue Code (1954) reported
C, page 186. in columns 2 and 3, schedule C, page 2, Form 1120,
Contributions or gifts.-The law limits thededuc- for 1954. "Dividends, foreign corporations" were
tion for charitable contributions or gifts in any one reported in column 4 of schedule C.
year to 5 percent of the net income for the year Deductions f rom net income aie allowed with respect
(before this deduction). Contributions or gifts in to a portion of the dividends f rom domestic corpora-
excess of this limitation made after December 31, tions and of certain dividends f rom foreign corpora-
1953, may be carried forward as a deduction against tions doing a substantial volume of business within
net incomes of the following 2 years to the extent the United States. Under the 1954 Code, if the sum
that contributions in such years are less than the of the allowable deductions is larger than the net
statutory limitation. income, a net operating loss results. See "Changes
Corporate net income or deficit-See "Net income in Law Affecting 1954 Data." Prior to 1951, credit
or deficit." was not allowed for dividends from foreign corpora-
Cost of goods sold and Cost of operations.-Iden- tions.
tifiable amounts of taxes, depreciation and amorti- Dividends from other corporations reportedincol-
zation, depletion, advertising, pension and other umn 5 of schedule C were included i n "Other receipts - 11
benefit plan contributions reported in these costs Such dividends include those from China Trade Act
were transferred to their specific headings. For corporations,corporations deriving a large percent-
years prior to 1951 only amortization of emergency age of their gross income from sources withina pos-
facilities and pension plan contributions were so session of the United States, and corporations ex-
treated. empt from tax under sections 501 and 521.
"Cost of goods sold" was reportedfbr transactions Employee benefit plans other than those within
in which inventories were an income-determinirg factor. the purview of section 404 of the 1954 Code include
"Cost of operations" was reported for all other insurance plans, noninsured death benefits) health,
transactions. accident and other welfare benefits deductible under
section 162. Prior to 1952 such amounts were tabu- .Interest on Government obligations.-Interest on
lated in "Other deductions." obligations of the United States issued after
Excess profits tax.-The excess profits taxtermi- September 1, 1917 (other than postal savings certifi-
nated December 31, 1953, and the amount shown is a cates for deposits made before March 1, 1941), and
prorated tax, based on the number of days in 1953 on obligations of corporations organized under act
reported for tax years beginning inthe period July of Congress is exempt from taxation only to the ex-
through December 1953. This excess profits tax was tent provided by the acts authorizing issuance of the
imposed by section 430 of the Internal Revenue Code obligations.
of 1939 upon adjusted excess profits net income as Interest reported on obligations described online
defined in section 431 of that Code. The amount 2(a), schedule C-1, page 2, Form 1120 for 1954 was
tabulated is before foreign tax credit. subject to surtax only. That reportedonobligations
First returns.-Classification of first returns described on line 2(b) was wholly taxable.
was based on the response to the first question on Wholly tax-exempt interest, received on obligations
page 3 of the return form, facsimile, page195, and of States, Territories, or political subdivisions
on the incorporation date. Returns without answers thereof, the District of Columbia, or United States
to any part of the question but with incorporation possessions, and on certain obligationsof the United
date in 1954, or in 1953 with the greater part of States or its instrumentalities was reported as item
the tax year in 1954, were included in the group 16, schedule M, page 4, of the 1954 Form 1120. The
"Whether new or successor not stated;' together with amounts tabulated are less amortizable bond premium.
those on which only the first part of the question .Inventory valuation method. -Classification by in-
was answered. ventory method is based on question 9, page 3 of
Foreign tax credi.t.-See text, page 20. Form 1120. Some corporations failed to answer the
Gross receipts from operations consists ofamounts question. Inventory items valued on a last-in,
received from transactions in which inventories were first-out basis are classified with cost valuation
not an income-determining factor. Cost of operations methods.
is shown as a deduction. Investments.-Government obligations of "States,
Gross sales consists of amounts received for goods, Territories, and United States possessions" include
less returns and allowances, in transactions where obligations of their political subdivisions and of
inventories were an income-determining factor. Cost the District of Columbia. United States obligations
of goods sold is shown as a deduction. include those of instrumentalities of the United
Inactive corporations are those which reported no States. Investments which were not identifiedon the
item of income ordeduction. Such returns were filed return as either "Government" or "Other" were included
in accordance with the regulation that acorporation in "Other investments.11
having an existence during any portion of a taxable Land.-Land acquired and certifiedas an emergency
year is required to file a return. Returns of inac- facilityis amortizable under the provisions of sec-
tive corporations were not included in the tabulation 168 of the 1954 Code relating to emergency fa-
tions, but the number filed is shown in table B and cilities. The net value of land, after deduction of
in historical
* table 38. this amortization,was reported onthe balance sheet.
Income,other than dividends,from foreign sources Liabilities.-See "Assets and liabilities."
is the net amount of taxable income or loss from Net gain or loss, sales other than capital assets
foreign countries or United States possessions, re- is the net gain or loss from the sale or exchange of
ported on line 7 of Form 1118,reduced by the amount (1) depreciable and real property used in trade or
of dividends received from foreign corporations, business; (2) accounts and notes receivable acquired
reported in Schedule C of Form 1120 (facsimiles on in the ordinary course of trade or business f or serv-
pages 219 and 194.) ices renderedor from sale of property includible in
.Income tax consists of normal tax, surtax, and inventory or ordinarily held f or sale; (3) Government
alternative tax. Tabulated with the income tax for obligations issued on or after March 1, 1941, on a
returns with net income is a small amount of tax discount basis and payable without interest at a
reported on returns with no net income under the fixed maturity date not exceeding 1 year from date
special provisions applicable to certain mutual in- of issue;(4) certain copyrights, literary, musical,
surance companies, other than life or marine, and or artistic compositions or similar properties; and
to mutual savings banks having separate life insur- (5) securities by dealers. (See "Capital gain or
ance departments. loss" for treatment of certain depreciable and real
The income tax tabulated is before creditfor for- property used in trade or business- and held over 6
eign taxes paid. months.)
Industrial divisions and groups.-See description Net income or deficit is the difference between
of industrial classification used in Statistics of the gross income subjectto tax and the total deduc-
Income, page 17. tions reported, exclusive of the net operating loss
Intangible assets.-Net values of intangible assets deduction and special statutory deductions. See
were tabulated. The balance sheet schedule of the also "Taxable income.11
1954 return provided for the reporting of amortizable Net operating loss deduction.-Anet operating loss
intangible assets separately for the first time. must be carried back as an of f set to net income during
Quality of the published data is affected by incon- the statutory carryback period before' being carried
sistencies in defining the assets and by inclusion forward. The deduction tabulated for Statistics of
of intangibles in other asset items on the 1953 Income is derived from the net operating losses of
return form used for f iscal years ended in the period prior years remaining as a carryover offset to net
July through November 1954. income for the year tabulated. It does not take
into account any carryback from a succeeding tax tions; bad debts recovered; cash discounts; income
year which may subsequently be made. The 1939 Code from claims, license rights, judgments, and joint
provided a one year carryback and a five year carry- ventures; net amount under operating agreements;
f orward f or losses sustained after December 31, 1949, profit from commissaries; profit on prior years'
and before January 1, 1954. collections (installment basis); profit on purchase
The 1954 Code made anumber of changes in the com- of corporation's own bonds; recoveries of bonds,
putation ofthe net operating loss and the method of stocks, and other securities; refunds for cancella-
deducting it from net income of other years. During tion of contracts, for insurance, management ex-
the transitional period involving income or loss penses, and processing taxes; and income from sales
computed under the 1939 Code, computations for each of scrap, salvage, or waste.
year includedin determining the deduction are to be Part year returns are returns for accounting pe-
made under the provisions of the Code normally in riods of less than 12 months. Part year returns
effect for that year. See "Changes in Law Affecting used for this volume were those with the greater
1954 Data," above, and section 172 of the 1954 Code part of the accounting period in calendar 1954.
for pertinent changes and for further explanation Short accounting periods result from reorganiza-
of the net operating loss deduction. tions, newly organized businesses, liquidations,
Noncalendar year returns.-This classification, and changes to new annual accounting periods.
for returns ended in the periods July 1954 through Pension plans include pension, annuity, stock bo-
November 1954 and January 1955 through June 1955, nus, profit-sharing, or other deferred compensation
excludes returns for part years. plans, contributions to which are deductible by the
Number of returns excludes returns of inactive employer under section 404 of the 1954 Code.
corporations exceptin table B, page10,' and histori- Personal holding companies. -Personal holding com-
cal table 38 where inactives are included in "Total pany schedules used for the 1954 tabulations were
number of returns." It includes returns of unincor- those filed under the provisions of the 1954 Code
porated business enterprises which elected to be and on the 1954 return form and do not represent a
taxed as corporations under section 1361 of the 1954 full coverage for the year. See page 22. Corpora-
Code. tions meeting the following tests with respect to
Number of subsidiaries consists of the number of gross incomeandstock ownership are considered per-
af f iliated corporations o ther than the common parent sonal holding companies:
corporations which were included in consolidated (1) Gross income test-80 percent or more of the
income tax returns. gross income is personal holding company in-
Other assets are those not reported separately on come (as defined below).
the return and include sinking funds; other funds; (2) Stock ownership test-more than 50 percent in
deferred charges;suspense items; interest,discount, value of the outstanding stock is owned, di-
coupons,and dividends receivable;guaranty deposits; rectly or indirectlyby or for not more than
and, for tax years ended in the period July through five individuals at some time during the last
November 1954, prepaid expenses and supplies and half of the taxable year. The term "individ-
intangible assets which could notbe segregated into ual" includes certain exempt organizations
the separate items for tabulating. "Other assets" and charitable trusts (sec. 542, 1954 Code).
of life insurance companies include market value of The following types of corporations are specifi-
real estate and bonds and stocks in excess of book cally excluded from classificationas personal hold-
value; interestrents,and premiums due; and agents' ing companies by section 542(c) of the 1954 Code:
balances. (1) corporations exempt from taxation under subehap-
Other deductions include (1) salaries and wages ter F of the 1954 Code; (2) banks, as defined in
not deducted elsewhere on the returns, (2) lossesby section 581;(3) life insurance companies;(4) surety
abandonment, fire, storm, shipwreck, or other casu- companies; (5) foreign personal holding companies
alty (including war losses),and theft, (3) negative as defined in section 552; (6) certain finance com-
amounts reported under income, and (4) amounts not panies; personal finance and small loan companies,
otherwise reported,such as: Administrative,general, and loan and investment companies; and (7) foreign
and office expenses;bonuses and commissions; deliv- corporations if gross income from within the United
ery changes;freight and shipping expenses; payments States for a 3-year period is less than 50 percent
in connection with lawsuits;sales discount; selling of total gross income and all stock outstanding dur-
costs; travel expenses; unrealized profits on instan- ing the last half of the year was owned by nonresi-
ment sales; and Federal Deposit Insurance Corpora- dent aliens.
tion assessments reported by banks. Section 543 of the 1954 Code defines personal
Other liabilities include deferred and suspense holding company income as that gross income derived
items; dividends payable; funds held in trust; bor- from (1) dividends, interest (other than interest
rowed securities;outstanding coupons and certifi- constituting rent under (7) or interest on special
cates; and overdrafts. "Other liabilities" of life reserve funds set aside under the Merchant Marine
insurance companies include the net value of out- Act, 1936), royalties (other than mineral, oil, or
standing policies and annuities,and borrowed money. gas royalties), and annuities; (2) gains in excess
"Other liabilities" of banks include depo-site (time, of losses from stock and security transactions, ex-
savings,demand, etc.)and bank notes in circulation. cept in the case of regular dealers; (3) gains in
Other receipts include amounts not elsewhere re- excess of losses from futures transactions in com-
ported on the return such as: Profits from sales of modities; (4) income from estates and trusts; (5)
commodities other than the principal commodity in income from personal service contracts; (6) amounts
which the corporation deals; income from minor opera- received as compensation for a shareholder's use of
corporation property, but only if more than 10 per- loss, minus income tax attributable to such excess
cent of gross income other than rents is personal as computed under section 545(b)(5).
holding company income; (7) rents,unless constitut- Special deduction for bank affiliates istheamaLmt
ing 50 percent or more of the gross income; and (8) certified by the Federal Reserve Board as having
mineral,oil,or gas royalties, unless such royalties been invested during the year in readily marketable
constitute 50 percent or more of the gross income, assets in compliance with section 5144of the Revised
and unless the deductions allowable for expenses Statutes (12 U.S.C.61).
under section 162 (other than compensation for per- The deduction for dividends paid consists of divi-
sonal services rendered by shareholders) constitute dends paid during the yearconsent dividends, and
15 percent or more of the gross income. dividend carryover (sec. 561). Excluded are those
Personal holding company income tabulated was the paid during the year but claimed in the preceding
amount shown in "Schedules required under section year and deficiency dividends.
6501(f)" of the personal holding company return Dividends paid after close of taxable year are
(facsimile page 20~) . This schedule was not f illed those paid before the 15th dayof the 3rd month fol-
in on 721 of the 3,818 personal holding company re- lowing end of year and considered paid during the
turns tabulated. year. The amount cannot exceed the undistributed
The personal holding company tax is imposed on personal holding company income for the year nor 10
companies meeting personal holding company tests percent of the dividends paid during the year.
above, and having undistributed personal holding Prepaid expenses and supplies. -This item appeared
company income as defined below. The tax is 75 per- separately in the tax return balance sheet schedule
centof the first $2,000 of undistributed income and for the first time for 1954. The data tabulated were
85 percent of the balance. Personal holding company principally for the calendar year 1954 and fiscal
tax is imposed by section 541 of the 1954 Code. years ended January through June 1955, reported on
The undistributed personal holding company income the 1954 return form. For fiscal years ended July
is the amount subject to personal holding company through November 1954, these assets were reported on
tax and is derived from the corporate net income the 1953 return formas "Other assets" and were tab-
or deficit (defined above) by certain adjustments ulated as prepaid expenses and supplies only for some
and additional deductions. Computation of the un- large corporations where they could be identified.
distributed personal holding company incomeis shown Prepaid expenses and supplies include amounts of pre-
in table 34 and the items are explained below. paid rents,insurance and interest,certain deposits,
The amount of a valid lien in favor of the United other prepaid expense4 and supplies not included in
States outstanding at the close of the taxable year inventory.
is an allowable deduction to the extent of undis- Prepaid income.-See "Changes in Law Affecting 1954
tributed income computed without such deduction. Data" for definitionof this item and limited cover-
Amounts deducted under provisions of the 1954 Code age due to enactment and repeal of section 452 of
must be added to income of the year in which the the 1954 Code under which it was reported. Prepaid
lien is satisfied or released. income not reported under section 452 was included
For personal holding company tax purposes, the in either "Other liabilities" or "Surplus reserves. "
allowance for expenses and depreciation applicable Rents received consist of gross amounts. Depre-
to property cannot exceed income from the property ciation,repairs,interest,taxes, and other expenses,
unless the propriety of the deduction can be estab- which wen deductible from gross rents,were included
lished under section 545(b)(8). The amount tabu- in the respective deduction items. See also the
lated was the difference between the amount allowable change in law affecting rents paid and received.
for personal holding company tax purposes and the Repairs are the costs of incidental repairs, in-
sm unt deducted in computing net income. cluding labor and supplies, which did not add mate-
The amount of additional'c.ontributions and gifts rially to the value of the property or appreciably
is the difference between the deduction allowed in prolong its life.
computing the net income, which was limited to 5 Reserves for estimated expenses.-See "Changes in
percent of net income before the deduction, and Law Affecting 1954 Data" for definitionof this item
the amount al I owed in computing undistributed personal and limited coverage due to enactment and repeal of
holding company income. For personal holding com- section 462 of the 1954 Code under which it was re-
pany tax purposes the deduction for contributions ported. Reserves for estimated expense not reported
and gifts is limitedin general to 20 percent of the under section 462 were included in "Surplus reserves."
net income plus an additional 10 percent with respect Returns with balance sheets. -About 92 percent of
to gifts to tax-exempt church, school, and hospital the returns f iled had balance sheet data. Only these
organizations. (Secs. 545(b)(2) and 170(b)(1)(A) returns were included in statistics shown for "returns
and (B).) with balance sheets."
Federal income and excess profits taxes and for- Returns with both beginning and end o~f<yeaTr in-
eign taxes are those disallowed under section 164 in ventory data.-Returns in this category are % eae-~
computing net income. Foreign taxes include those stricted to those with both the beginning o ea,
for which a foreign tax credit was claimed. and end of year balance sheet sections of schedule
Net operating loss dedtiction is the net operating L of the return form (facsimilepage 196) completed
loss of the previous year as determined under section and with inventory data reported on each balance
172(c). sheet.
Deduction for canital gains is the excess of net Returns without net income are those returns which
long-term capital gain over net short-term capital had total deductions (exclusiveof the net operating
448404 0 - 57 - 3
loss deduction and special statutory deductions) cession,and gift taxes,(3) income and profits taxes
equal to or exceeding total gross income subject to paid to a foreign country or possession of the United
tax. States if any portion was claimed as a tax credit,
Royalties consist of gross amounts received. De- (4) taxes assessed against certain local benefits,
pletion based on royalties was reported in deductions. (5) Federal taxes paid on tax-free covenant bonds,
Surplus and undivided profits consists of "Paid- and (6) unidentifiable amounts of taxes reported in
in or capital surplus" and "Earned surplus and un- "Cost of goods sold" and "Cost of operations."
divided profits" less negative amounts reported. Tax year.-Data for a tax year cover accounting
In table 6 this item also includes "Reserves for periods ended in the period July of the tax year
estimated expenses" and "Surplus reserves." through the following June and part year accounting
Prior to 1954, negative amounts were shown sepa- periods with the greater number of months in the
rately. specified tax year.
Taxable income.-Income subject to normal tax is Total compiled receipts is the sum of all items
the current yearnet income, tabulated for Statistics of taxable receipts and tax-exempt interest (see
of Income, less statutory deductions for partially table 2 or historical table 40).
tax-exempt interestnet operating losses, dividends Total tax is the sum of the income and excess
received, certain dividends paid by public utili- profits taxes.
ties, and Western Hemisphere trade corporations. Undistributed personal holding company income.-
The amount subjectto surtax is computed in the same See "Personal holding companies," above.
way except that no deduction is allowed for partially Western Hemisphere trade corporations.-See text.
tax-exempt interest. page 21.
Taxes paid excludes (1) Federal income and excess
profits taxes, (2) estate, inheritancellegacy, suc-
3. Tables from
Corporation
In com e Tax
Returns,
1954
TABLES FROM CORPORATION INCOME TAX RETURNS, 19S4
Page
ALL ACTIVE CORPORATION RETURNS

1. Gross receipts from sales and from operationscost of goods
sold and of operations, net income or deficit, and taxes,
by minor industrial group ................................ 32
2. Income statements, by major industrial group ............... 37
3. Income statements by returns with and without balance sheets 43
RETURNS WITH BALANCE SHEETS

4. Balance sheets andrelated income statementsby major indus-
trial group .............................................. 44
5. Balance sheets and related income statements, by size of
total assets ............................................. 52
6. Selected assets, liabilitiesreceipts,and costs, total tax,
and dividends paid, by size of total assets, by major in-
dustrial group ........................................... 54

7. Net income or deficit,taxes, and dividends paid, by size of
net income or deficit, by industrial division ............. 80
8. Income tax, excess profits tax, and alternative tax liabil-
ity, by size of net income ............................... 82
9. Dividends received and interest received on Government obli-
gations, by size of net income or deficit ................ 83
10. Type of dividends paid, by size of net income or deficit ... 84
11. Cash dividends paid, by income status, by industrial divi-
sion ..................................................... 85
12. Inventory valuation method, by major industrial group ...... 86
13. Accounting method, by major industrial group ............... 87
14. Total asset,-~gross receipts from sales and from operations,
and net income or deficit, by month in which accounting
period ended, by major industrial group .................. 88
15. Net income or deficit and taxesby calendar and noncalendar
year accounting period, bysize of net income or deficit. 95

16. Total assets, net income or deficit, and taxes, by calendar
and noncalendar year accounting period, by size of total
assets ................................................... 96
RETURNS WITH NET INCCNE

17. Total assetsgross receipts from sales and from operations,
and net income, by month inwhich accounting period ended,
by major industrial group ................................ 97
18. Income statements, by major industrial group ............... 104
RETURNS WITH BALANCE SHEETS AND NET INCOME

19. Balance sheets and related income statements,by major indus-
trial group .............................................. 110
total assets ............................................. 118
MANUFACTURING AND TRADE CORPORATION RETURNS

21. Beginning and ending inventories, related gross sales and
total assets, and aggregate gross sales, for selected in-
dustry groups ............................................ 120
30
31
TABLES.FROM CORPORATION 114COME TAX RETURNS, 1954-Continued
Page
MANUFACTURING AND TRADE CORPORATION RETURNS WITH BALANCE SHEETS

22. Beginning and ending inventories and total assets, by month
in which accounting period ended ......................... 121
CORPORATIONS FILING FIRST RETURNS IN 1954

23. New businesses and successor businessesby major industrial
group .................................................... 122
CONSOLIDATED RETURNS
24. Balance sheets and related income statements, by industrial
division ................................................. 123
CONSOLIDATED RETURNS WITH BAIANCE SHEETS

total assets ............................................. 124
CONSOLIDATED RETURNS WITH NET INCCME

26. Balance sheets and related income statements, by industrial
division ................................................. 126
CONSOLIDATED RETURNS WITH BALANCE SHEETS AND NET INCOME

total assets ............................................. 127
RETURNS WITH FOREIGN TAX CREDIT

28. Net income, taxesforeign. tax credit claimed, and type of
income from foreign sources, by major industrial group ... 129
29. Net income, taxes, foreign tax credit claimed, and type of
income from foreign sources,by size of total assets ...... 130
30. Net income, taxes, foreign tax credit claimed, and type of
income from foreign sources, by size of net income ....... 130
WESTERN HEMISPHERE TRADE CORPORATION RETURNS

31. Net income, Western Hemisphere trade corporation deduction,
taxes,,foreign tax credit, and type of income from foreign
sources, by major industrial group ....................... 131
taxes,,foreign tax credit, and type of income from foreign
sources, by size of total assets ......................... 134
taxes,, foreign tax creditand type of income from foreign
sources, by size of net income ........................... 135
PERSONAL HOLDING COMPANY SCHEDULES

34. Undistributed income computation and personal holding com-
pany tax, by income status ............................... 136
35. Sources of personal holding company income, by undistributed
income status ............................................. 136
36. Personal holding company income, undistributed income, and
tax, by size of personal holding company income .......... 137
37. Personal holding company income, undistributed income, and
tax, by size of undistributed income ..................... 137
Table I-ORM RECEIPTS FROM SALES AND FROM OPERATIONS, C09T OF GOODS SOLD AND OF OPERATIONS, NET INCOME OR DEFICIT, AND TAXES, BY MINOR INDURTRIAL GROUP is
Returns with and without net income Returns with net income
Gross a
Cost of Cost of
Total receipto from Total me. :ipto from Excess
Industrial group goods sold et income goods sold
compiled sales and compiled lea &M Net income Income tax profits
Humber of and of or d*ficit Number of and of
from opera- receipts from opera- taxi
receipts operations returns operations
returns time time
(7h--d elh-W (7h.-d (77~~ (1)1-..d (11-W (7b--,d (Th--.d E
(:
7h-:--d (77.-d
d.IJ.,.) d.11... d.11_.) d.jUrs) d.IJ.,.) d.11 ... d.11 ... d.11... d.11 ...
(2) (3) (4) (5) (6) (7) (10) (11) (12)

(8) (9)
1 All industrial groups ................................................... 722,805 554,822,450 528,905,708 389,725,192 36,328,435 441,177 494,727,486 462,063,942 336,059,390 39,572,830 16,823,241 37,711 1
2 Agriculture, forestryp and fishery ...................................... 8,779 2,272,577 2,175,547 1,585,131 122,283 4,741 1,831,616 1,751,159 1,249,785 176,168 65,713 56 2
3 Farm and agricultural services ....................................... 7, IY71 2,181,075 2,094,907 1,526,561 114,467 4p428 1,767,272 1,696,953 1,209,980 163,836 61,948 56 3
4 Forestry.............................................................. 262 42,858 32p826 23 944 10,121 160 41,137 31,642 23,733 10,674 3,513 - 4
5 Fishery............................................................... 546 48,644 47,814 34:726 '2,305 153 23,207 22,564 16,072 1,658 252 - 5
6 Mining and quarrying .................................................... 9,585 8,550,919 8,238,566 5,136,494 740,913 4,248 6,708,513 6,478,991 3,872,591 946,048 427,464 1,250 6
7 Metal mirdng........................................................ - 1,018 1,438,138 1,384,676 835,735 201,771 215 1,231,859 1,198,569 692,784 244,166 111,268 - 7
8 Iron................................................................ 106 461,157 437,512 306,296 13,932 28 361,431 3",979 2",722 38,541 14,370 - 8
9 Copper, lead, zinc, gold,silver..................................... 493 819,478 792,790 457,305 161,124 ill 728,534 703,786 388,682 171,720 80,922 - 9
10 Other metal minin .................................................. 419 157,503 154,374 72,134 26,715 76 141,894 139,804 59,380 33,905 15,976 - 10
11 Anthracite mining ......................................... 140 363,203 335,649 279,910 1,343 57 111,550 98,262 79,253 14,364 1,858 5 11
12 Bituminous coal and lignite mining........................ 1,424 1,667,895 1,614,361 1,213,778 14,960 462 1,159,895 1,120,985 807,270 46,940 15,948 - 12
3.3 Crude petroleum and natural 968 production ............................ 4,852 3,903,312 3,746,378 2,122,464 409,078 2,208 3,109,752 2,9914,501 1,666,285 514,172 239,076 1,171 13
14 Crude petroleum, natural gas, and natural gasoline .................. 3,024 2,755,316 2,630,727 1,364,599 329,302 1,198 2,229 846 2,139,065 . 1,107,770 414,294 193,343 10 14
15 Oil- and gas-field contract services ................................ 1,828 1,147,996 1,115,651 757,865 79,776 1,010 M1906 855,436 558,515 99o878 45,733 1,161 15
,
16 Nonmetallic mining and quarrying...................................... 2,151 1,178,371 1,157,502 694,607 113,761 1,306 1,095,457 1,076,674 626,999 126,406 59,314 74 16
17 Stonex sand, " gravel............................................. 1,623 802,259 788,137 505,075 60,796 1,083 735,308 722p821 458,791 67,851 29,947 7 17
is Other nonmetallic mining and. quarrying .. ........................... 528 376,112 369,365 179,532 52,965 223 360,149 353,853 168,208 58,555 29,367 67 18
19 Construction ............................................................ 36,130 17,490,821 17,214,952 14,533,392 487,594 21,411 14,674,891 14,441,227 12,123,846 633,538 256, 353 512 19
20 General building contractors .......................................... 10,599 6,241,620 6,166,006 5,527,612 119,413 6p3O7 5,233,374 5,175,499 4,611,663 163,978 65,209
' 147 20
21 General contractors other than building ............................... 5,127 5,076,213 4,931,549 4,110,952 213,062 3,298 4,472,354 4,342,602 3,605,419 253,272 106,755 73 21
22 General contractors not allocable ..................................... 399 101,137 98,167 81,703 3,040 169 81,386 78,602 64,382 4,351 1,602 - 22
23 Special trade contractors ............................................. 18,601 5,927,850 5,877,191 4,699,8M 150,993 11,168 4,793,202 4o751,570 3,771,261 205,939 80,655 289 23
24 Other construction.................................................... 1,414 i"'Ool 142,039 113,257 1,086 469 94,565 92,954 71,121 6,098 2,132 3 24
25 Manufacturing ........................................................... 120,8% 268,327,923 264,546,794 194,943,643 18,289,865 74,608 240,028,767 236,497,536 l7lo477,345 19,653p551 9,451,660 30,899 25
26 Beverages ............................................................. 2,759 7,394,827 7,343,363 4,678,116 340,325 1,717 6,646,212 6,604,469 4,171,876 378,867 188,42? 602 26
27 Nonalcoholic beverages .............................................. 2,192 1,034,003 1,015,005 529,879 72,741 1,395 871,630 855,391 432,4% 81o418 37,404 374 27
28 Malt liquors and malt ............................................... 261 2,851,141 2,833,652 1,257,686 173,137 ISO 2,596,683 2,582,424 lpl36,248 188,042 94,796 170 28
29 Wines ............................................................... 135 147,106 145,517 98,591 5,299 82 121,631 120,471 80,754 6,807 2,893 32 29
30 Distilled, rectifiedl and blended liquors ........................... 171 3,362,577 3,349pl89 2,79lp960 89,148 60 3,056,268 3,046,183 2,522,378 102,600 53,334 26 30
31 Food and kind ed products ............................................. 10,289 36,723,502 36,504,618 29,936,304 1,202,022 6,553 30,327,098 30,132,816 24o2O7,172 1,301,554 635,410 3,553 31
32 Meat producto ....................................................... 1,567 13,401,129 13,375,246 12,212,551 91,861 1,070 8,832,156 8,814,413 7,953,923 118,824 54,619 105 32
33 Dairy products ...................................................... lp561 4,145,792 4plI9,848 3,378,119 161,845 959 3,942,869 3,918,423 3,20`7,081 167,114 82,885 1 33
34 Canning fruits, vegetables, " wafoods ........................... 1,563 3,487,590 3p453,144 2,663,500 136,701 949 2,923,948 2,894,519 2,198,"6 160,003 76,737 1,825 34
35 Grain mill products, except cereal preparations ..................... 1,170 4,658,680 4,638,724 3,904,293 169,838 879 4,458,035 4,439,3% 3,728,737 174, 8" 85,838 1,309' 35
36 Bakery products ..................................................... lo687 3,228,633 3,213,661 2,022,386 147,389 1,065 2,915,572 2,902,101 1,806,360 158p244 77,665 71 36
37 99 1,498,450 1,460,041 1,140,876 77,188 75 1,389,676 1,363,603 1,060,801 80,603 39,522 127 37
SUEor................................................... I .... --*
38 Confectionery ....... ............................................... 633 1,484,160 1,467,309 1,075,547 91,040 364 1,309,289 1,293,741 929,948 97,726 47,640 10 38
Cereal preparations ................................................. 27 434,097 426,186 295,667 48,307 26 433,327 425,416 295,163 48,559 24,974 39
39
40 Other food, including manufactured ice and flavoring sirups ......... 1,828 2,962p659 2,922,221 2,169,450 181,928 1,161 2,713,059 2,676,022 1,970,718 199,032 95,978 102- 40
41 Food and kindred products not allocable ............................. 154 1,432,312 1,428,238 1,073,915 95,925 105 1,409,167 1,405,182 1,055,995 96,565 49,552 3 41
42 Tobacco manufactures .................................................. 172 3,683,128 3,674,860 2,043,569 318,916 110 3,625,413 3,617,689 1,999,647 321,699 166,105 13 42
91 322,177 320,132 227,667 13,794 68 2?4,452 272,857 191,144 15,575 7,679 - 43
43 Cigaza; ..............................................................
44 Other tobacco manufactures .......................................... 81 3,360,951 3,354,728 1,815,902 305,122 42 3,350,%l 3,3",832 1,808,503 306,124 158,426 13 44
45 Textile-mill products ................................................. 5,270 11,852,664 11,728,755 9,676,316 314,632 3,193 9,238,911 9,145,564 7,366,724 479,034 225,920 411 45
46 Yarn and thread (cotton, wool, silk, and, synthetic fiber) ........... 578 1,364,991 1,347p989 1,112,420 34,?54 299 989,373 976p643 767,391 51,846 24,619 22 46
47 Broadwaven fabrics (woolen and worsted) ............................. 243 731,754 722,?00 623,547 215,997 125 410,664 406,401 326,591 23,423 10,826 13 47
48 Broadwaven fabrics (cotton) ......................................... 304 2,832,789 2,798,299 2,380,772 109,593 186 2,305p446 2,278,280 1,901,566 133,227 65,386 13 48
49 marrow fabrics " other smallwares (cotton, wool, silk, and syn- 383 292,064 287,546 224,343 llp883 250 227,983 224,358 174,585 13,995 5,%1 9 49
thetic fiber)
50 Knit goods .......................................................... 1,726 2,069p242 2,051,282 1,664,005 55,061 1,133 1,688,072 1,674pl44 1,340,132 79,998 36,910 119 50
51 Dyeing and finishing textiles~ except knit goods .................... 630 670,993 662,288 517,516 30,978 386 545,240 538,456 412,447 38,097 17,761 111 51
52 Carpets ar-A other floor coverings ................................... 204 865,2" 858p883 622,085 38,493 % 686,453 681,012 481,994 49,414 24,000 " 52
53 Hate, except cloth arid millinery .................................... 123 117,366 116,268 90,832 1,422 so 84,742 84,016 63,901 3,501 1,599 1 53
54 Other textile-mill products ......................................... 928 1,675,494 1,661,828 1,380,349 36,799 555 1,303,215 1,29lp980 1,049,349 62,633 29,434 79 54
55 Textile-Mill products not allocable ................................. 151 1,232,827 1,221,682 1,060,447 11,846 83 997,723 990,274 848,768 22,900 9,424 - 55
56 Apparel and products mode from fabrics ................................ 1-3,750 8,906,298 8,857,300 7,094,231 145,153 7,600 7, 0'78, 063 7,037,233 5,609p957 216,217 90,911 231 56
57 Men's clothing...................................................... 2,850 2,967,%9 2,944,943 2,395,505 70,198 1,709 2,504,858 2,494,536 2,012,907 88,720 40,376 53 57
58 Women's clothing.................................................... 6,399 4,064,338 4,049,032 3,209,374 53 615 3,4% 3,146,801 3,135,164 2,467,869 86,658 34p577 170 58
59 Millinery........................................................... "7 135, 012 134, 098 101,124 1 706 184 72,226 71,559 5 3,1 71 1,346 330 - 59
60 F~w goods ........................................................... 754 138,112 137,643 113,458 1535 360 99,698 99,436 81,822 lp489 366 - 60
61 Other apparel and accessories ....................................... 786 388,990 386,744 299,058 5,781 "1 301,663 299,75-4 227,723 9,632 3,844 1 61
62 Other fabricated textile products ................................... 2,175 1,088,643 1,082,501 879,731 14,303 1,248 863,065 857,816 697,023 24,274 9,811 7 62
63 Apparel and products made from fabrics not allocable ................ 339 123,234 122p339 95,981 2,495 162 89,752 88,968 69, "2 4,098 1,607 - 63
See footn6tes at end of table. See text for explanatory statements and for -Description of the SaMle and Limitations of Data."
Table i.-GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, COST OF GOODS SOLD AND OF OPERATIONS, NET INCOME OR DEFICIT, AND TAXES, BY MINOR INDUSTRIAL GROUP-Continued
Gross Gross
Cost of Cost of
Total receipts from Total receipts from Excess
Industrial group 'goods sold Net income goods sold
compiled 'ales and compiled sales " Net income Income tax profits
Number and of or deficit Number of and of
of receipts from opera- receipts from opera- tax '
returns !operations returns operations
tions tions
(Yh-.-d (77,-...d (Th-...d (Th-...d (Th--d (77--d (Th~.... d (Th-and (7h-...d (Th-...d
d.11.,.) d.11... d.11-) d.11-) d.11... d.11 ... d.11 ... d.11 ... d.11 ... d.1 la-)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
Manufactur ing-C on tinue d -
64 Lumber and wood products, except furniture ........................... 5,684 5,347,975 5,129,013 3,974,644 327,658 3,617 4,764,49Q 4,558,905 3,482,507 364,341 137,544 158 64
65 logging camps, logging contractors, sawmills, " planing mills .... 2,746 2,988,532 2,814,562 2,131,256 228,458 1,824 2,690,916 2,526,823 1,878,881 244,762 87,911 102 65
66 Millwork, plywood, and prefabricated structural wood products ...... 1,363 1,585,670 1,553,598 1,237,758 79,140 941 1,439,071 1,409,195 1,113,124 87,310 36,854 41 66
67 Wooden containers .................................................. 537 381,212 373,371 303,383 8,979 301 314,669 307,382 247,626 15,658 6,171 14 67
68 Other wood products ................................................ 1,038 392,561 387,482 302,247 11,081 551 319,834 315,505 242,876 16,611 6,608 1 68
69 Furniture and fixtures ............................................... 4,598 3,465,924 3,430,527 2,574,720 148,950 2,617 2,873,368 2,844,539 2,097,121 184,576 86,727 180 69
70 Furniture-household, office, public building, and professional .... 3,418 2,860,432 2,830,233 2,132,051 120,951 1,959 2,365,162 2,340,418 1,730,387 151,391 71p468 154 70
71 Partitions, shelving, lockers; and office and store fixtures ....... 590 295,167 292,923 215pl45 13,913 337 253,393 251,326 182,615 17,276 7,903 20 71
72 Window and door acres=, shades, and venetian blinds............... 432 253,812 251,158 185,863 11,807 242 210,509 208,759 152,275 13,181 6,122 6 72
73 Other furniture and fixtures.............. I ........................ 158 56,513 56,213 41p661 2,279 79 44,304 44,036 31,844 2,728 1,234 - 73
74 Paper and allied products ............................................ 2,737 So579,191 8,"8,032 5,907,329 892,181 2,OG4 8,126,438 8,000,697 5,539,728 916,440 452,516 584 74
75 Pulp, paper, and paperboard ........................................ 422 4o959,224 4,871,111 3,307,355 626,499 325 4,811,063 4,724,540 3,183,675 636,015 316,277 197 75
76 Paper bags and paperboard containers and boxes..................... 1,382 1,978,986 1,957,845 1,453,245 144,464 1,007 1,789,979 1,770,639 1,299,199 151,852 73o629 311 76
77 Pulp goods and other converted paper products ...................... 933 1,640,981 1,619,076 1,146,729 121,218 672 1,525,3% 1,505,518 1,056,854 128,573 62p610 76 77
78 Printing, publishing, and allied industries .......................... 14,158 8,867,469 8,696p335 6,006,516 571,223 9,454 7,607,786 7,453,649 5,056,229 630,330 288,775 817 78
79 Newspapers ......... ! ............................................... 2,822 3pO43,505 2,982p601 2,187o3OO 265,805 2,030 2,630,260 2,573,198 1,851,298 277p4?3 130,323 195 79
so Periodicals ........................................................ 1,217 1,292,189 1,270,269 888,531 42,055 677 974,741 956,447 650ol2l 66,647 30,065 76 80
81 Books .............................................................. 759 816,728 774,533 449,907 58,018 452 716,874 677,964 382,058 61,731 28,190 236 81
82 Commercial printing, including lithographing....................... 6,018 2,646,075 2,620,552 1,805,365 137,897 4,111 2,321,973 2,299,133 1,570,836 150,453 67,699 234 82
83 Other printing and publishing ...................................... 2,748 737,406 721,547 465,004 42,152 1,916 659,402 646,282 413,496 46,517 19,391 59 83
84 Printing, publishing, and allied industries not allocable .......... 594 331,566 326,833 210,409 25,296 268 304,536 300,625 188,420 27,509 13,107 17 84
85 Chemicals and allied products ........................................ 7,356 19,100,533 18,696,435 11,766,944 2,225,293 4,588 17,976,928 17,583,562 10,966,433 2,289,153 1,103,970 1,138 85
86 Industrial inorganic chemicals..... ................................ 344 1,606,883 1,584,182 982,540 171,361 240 1,583,039 1,561,145 966,031 173,044 83,527 34 86
87 Industrial organic chemicals, including plastic materials~synthetic 537 4,025,173 3,851,925 2,251,762 804p343 .347 3,861,281 3,689,876 2,131,344 825,449 378,872 88 87
rubber, and synthetic fibers.
as Drugs and medicines ................................................ 1,311 1,936,956 1,896,959 893p793 267,972 671 1,859,388 1,820,267 848,368 272,780 135,573 282 88
89 Soap and glycerin, cleaning and polishing preparations, etc ........ 972 1,981,388 1,958,301 1,264,799 153,652 513 1,676,928 1,655,469 1,086,785 159o224 80,547 2 89
90 Paints, varnishes, lacquers, etc ................................... 1,150 2,051,923 2,036,949 1,468,684 141,029 789 1,956,309 1,941,813 1,400,661 146,007 71,836 411 90
91 Perfumes, cosmetics, and other toilet p~eparations................. 636 537,794 524,220 244,022 46,527 340 493,649 480,693 220,772 51,559 25,182 115 91
92 Fertilizers ........................................................ 396 820,795 813,152 620,813 40,954 312 771,177 763,763 578,343 44p874 20,765 54 92
93 Oils and fats, animal and vegetable, except edible cooking oils .... 415 1,628,137 1,618,032 1,416,323 69,110 310 1,437,445 1,428,297 1,238,224 73,174 35,971 5 93
94 Other chemical products ............................................ 1,213 1,679,034 1,656,335 1,045,661 171,663 822 1,602,959 1,581,706 988,110 175,641 86,311 57 94
95 Chemicals " allied products not allocable ........................ 382 2,832,450 2,756,480 1,578,547 358,682 244 2,734,753 2,660,533 1,507,795 367,401 185,386 90 95
96 Patrols= and coal products.......................................... 715 28,472,263 27p5O9,092 20,580,139 1,635,284 432 27,674,777 26,719,227 19p9O3,843 1,662,847 656i250 130 96
97 Petroleum refining ................................................. 260 27,567,097 26,614,063 19,945,757 1,585,880 142 26,862,212 25,915,341 19,339,180 1,604,330 627,327 117 9?
98 Other petroleum and coal products .................................. 455 905,166 895,029 634,382 49,404 290 812,565 803,886 564,663 58,517 28,923 13 98
99 Rubber products ...................................................... 793 4,625,297 4,560,021 3,299,230 299,694 544 4,459,202 4,395,471 3,164,475 311,606 154,537 156 99
100 Tires and inner tubes .............................................. 36 3,542,722 3,484,738 2,524,749 238,882 32 3,479,084 3,421,456 2,474,047 242,764 121,597 45 100
101 Other rubber products, including rubberized fabrics and clothing ... 757 1,082,575 lo075,283 774,481 60,812 512 980,118 974,015 690,428 68,842 32,940 111 101
102 Mather and products ..... ........................................... 2,520 3,075,182 3,054,928 2,438,974 112,062 1,621 2,629,113 2,612,869 2,059,812 129,672 60,411 322 102
103 leather, tamed, curried, and finished ...... ...................... 378 540,284 536,822 454,284 12,970 216 379,652 377,265 308,289 19,802 8,924 58 103
104 Footwear, except rubber............................................ 897 1,904,141 1,891,567 1,503,473 83,086 645 1,745,013 1,733,799 1,372,483 88,609 42,554 262 104
105 Other leather products ............................................. 1,245 630,757 626,539 481,217 16,006 760 504, "S 501,805 379,040 21,261 8,933 2 105
106 Stone, clay, and glass products ...................................... 4,284 6,650,551 6,553,662 4,265,009 792,878 2, 8" 6,311,786 6,219,273 3,999,806 818,585 405,455 418 106
107 Glass and glass products ........................................... 492 1,807,610 1,789,487 1,192,691 230,572 301 1,743,512 1,725,875 1,140,114 234,495 118,241 249 10?
108 Cement (hydraulic) ................................................. 99 738,788 729,516, 362,604 178,873 77 735,874 726,623 360,193 179,291 92,190 6 108
109 Structural clay products ........................................... 631 700,851 690,075 454,411 50,385 441 627,813 618,105 397,910 56,881 26,402 8 109
110 Pottery and related products ....................................... 325 303,%1 301,306 221,182 16,121 183 254,830 252,743 181,543 19,599 9,088 6 110
ill Concrete, gypsum, and plaster products ............................. 1,755 1,407,539 1,388,299 875,213 163,194 1,215 1,344,670 1,326,723 827,138 168,821 80,675 121 Ill
112 Cut-stone and stone products ....................................... 402 118,048 115,482 84,915 729 213 88,845 86,835 60,296 3,860 1,387 3 112
113 Abrasives, asbestos, and other nonmetallic mineral products ........ 580 1,573,754 1,539,497 1,073,993 153,004 414 1,516,242 1,482,369 1,032,612 155,638 77,472 25 113
114 Primary metal industries ............................................. 3,241 19,838,003 19,636,375 14,027,669 1,522,097 2,139 18,467,419 18,275,377 12,922,807 1,618,472 812,168 1,356 114
115 Blast furnaces, steelworks, and rolling mills ...................... 134 11,274,735 11,179,232 7,669,011 %8,579 102 10,618,653 10,526,738 7,167,495 1,017,994 523,841 526 115
116 Iron and steel found ies ........................... 979 1,635,0`77 1,620,740 1,219,847 112,957 675 1,401,400 1,388,509 1,023,568 127,792 61,852 248 116
117 Smelting, refining, rolling, drawing, and alloying 446 4,891,680 4,817,099 3,596,918 330,464 327 4,725,932 4,652,550 3,449,4cY7 344,150 164,487 147 11?
metals.
118 Nonferrous foundries ............................................... 909 514,349 509,439 390,767 14,403 543 364,421 361,539 265,711 21,741 9,410 46 118
119 Other primary metal industries ..................................... 672 1,359,722 1,348,286 1,026,889 88,308 420 1,231,310 1,221,071 922,908 97,129 47,824 389 119
120, Primary metal industries not allocable ............................. 101 162,440 161,579 . 124,237 7,386 72 125,703 124,970 93,628 9,666 4,?54 - 12C
See footnotes at end of table. See text for explanatory statement and for "Description of the Sample and Limitations of Data."
&B
V
TWO I.-GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, COST OF GOODS SOLD AND OF OPERATIONS, NET INCOME OR DrFICIT, AND TAXES, BY MINOR MUITRIAL GROUP-Candw"d
Returns with and witho-at net income Returns with net income
Gross Gross
Cost of Cost of
Industrial group goods sold Net income goods sold
compiled fr
sales and Numbe r of compiled sales and Met income Income tax profits
Number of and of or deficit and f
receipts -t, opera- returns receipts from opera- tsz,
~eturn8 opera ti ons operations
ons tions
(Th-...d (7W-.-d (Th-...d (7h-...d (Thassassi (77--d (Tb-..d (Th--.d (rhosssassi (77-d
doll.,.) doll.,.) d.1 I ... dollars) doll ... dollar.) dol I... doll... doll.,.) dollars)
Manufacturing--Continued
121 Fabricated metal products, except ordnance, machinery, and transpor- 11,775 13,798,493 13,64~7,849 10,077,646 884,237 7,497 12,465,646 12,327,011 9,019,943 970,118 467,532 1,855 121
tation equipment.
122 Tin cans and other tinware ......................................... 62 1,480,724 1,466,822 1,158,177 91,270 62 1,480,724 1,466,822 1,158,177 91,270 45,314 18 122
123 Cutlery, handtools, and general hardware.. ....... 1,197 1,274,996 1,246,524 794,376 133,515 686 1,140,986 1,113,916 688,638 142,667 69,486 62 123
124 Heating apparatus (except electrical) and pl=ber;; * .upp
* ' * li
* e* s.
* '*'..'*..*, 1,099 2,498,331 2,470,756 1,810,480 155,122 665 2,246,363 2,220,089 1,610,028 171,781 94,207 104 124
125 Fabricated structural metal products ............................... 3,327 3,352,689 3,323,751 2,516,160 203,166 2,473 3,040,147 3,014,166 2,263,009 222,258 105,085 538 125
126 Metal stamping, coating, and engraving............................. 2,716 1,965,536 1,945,546 1,445,399 111,669 1,539 1,662,077 1,644,284 1,202,719 127,855 61,133 654 126
127 Lighting fixtures .................................................. 643 389,885 386,179 277,469 14,155 404 335,785 333,334 238o232 16,594 7,323 5 127
128 Fabricated wire products ........................................... 669 735,859 729,309 540,749 46,113 458 683,302 677,001 499,098 49,471 23,658 58 128
129 Other fabricated metal products .................................... 1,792 lo371,137 1,355,757 %8,974 85,123 1,021 1,189,314 1,176,380 827,804 99,468 47,498 276 129
130 Fabricated metal products net all"able............................ 271 729,336 723o2O5 565,862 44,104 189 686,948 681,019 532,238 48,754 23,828 140 130
131 Machinery, except transportation equipment and electrical ............ 11,716 21,468,783 21,197o535 14,613,487 1,756,874 7,025 19,532,019 19,281,472 13,113,661 1,882,667 934,066 4,656 131
132 Engines and turbines, except automotive, aircraft, and railway..... 38 699,756 694,951 531,967 49,051 27 567,193 563,247 420,972 52,993 27,113 628 132
133 Agricultural machinery and tractors ................................ 732 3,247,756 3,217,353 2,411,873 204o427 383 2o992oO45 2,964,062 2,212,427 213,491 106,836 100 133
134 Construction and mining machinery.................................. 497 1,930,375 1,901,017 1,314,213 214,623 377 1,827,288 1,799,406 1,231,835 226,761 114,523 119 134
1.35 Metalworking machinery, including machine tools .................... 2,757 3,035,885 3,000,485 2,016,081 322,982 1,743 2,799,539 2,766,647 1,842,847 342,182 170,112 1,424 135
1.36 Special industry machinery ......................................... 1,580 1,879,069 1,842,886 1,265,641 139,724 983 1,685,398 1,653,539 1,121,417 155,096 74,767 126 136
137 General industry machinery. ........................................ 1,496 3,046,375 3,011,380 2,130,625 244,672 948 2,821,898 2,789,248 1,958,484 260,030 128,206 558 137
138 Office and store machines.. ........................................ 320 1,747,654 1,717,141 793,987 200,244 209 1,703,268 1,673,285 764,219 205,339 103,763 301 138
139 Service-industry and household machines............................ 583 2,821,686 2,785,381 2,024,856 155,992 379 2,496,228 2,463,135 1,759,652 173,191 86,992 805 139
140 Other machinery parts, and machine shops ........................... 3,251 1,762,749 1,745,667 1,184,056 142,668 lo704 1,457,812 l,"2o540 952,699 160,506 76,813 396 140
141 Machinery, except transportation equipment and else trical, not 462 1,297,478 1,281,274 940,168 82,491 272 1,181,350 1,166,363 849,109 93,078 ",941 209 141
allocable.
142 Electrical machinery and equipment ................................... 3,937 14,444,111 14,278,590 10,355,462 1,137,962 2,439 13,559,706 13,411,065 9,627,152 1,199,092 595,937 3,286 142
143 Electrical generating, transmission, distribution, and industrial 1,226 5,269,164 5,217,650 3,754,741 517,803 844 5,123,101 5,072,864 3,637,359 528,085 264,422 646 143
apparatus.
144 Electrical appliances .............................................. 198 615,612 609,995 430,559 50,767 133 553,070 547,564 378,151 54,686 27,440 301 144
145 Insulated wire and cable ........................... 112 690,035 685,939 554,505 39,214 80 661,129 657,154 528,638 40,829 20,499 30 145
146 Electrical equipment for motor vehicles, aircraft, ;;Zr.i1wa' ' * Y
-*** 112 428,279 421,394 307,719 28,303 73 265,750 260,623 176,500 31,922 16,195 82 146
locomotives and cars.
147 Electric lamps ..................................................... 40 38,"2 38,080 25,499 2,006 38 37,322 36,961 24,653 2,022 885 - 147
148 Radio, radar, and television equipment (except radio tubes), and 1,171 4,024,267 3,998,176 3,051,015 216,167 638 3,754,938 3,735,574 2,823,449 247,841 123,364 926 148
phonographs.
149 Other communication equipment and related products ................. 476 783,554 752,939 581,311 56,740 236 722,860 693,791 533,991 61,670 30,191 193 149
150 Other electrical products, including batteries...... ............... 386 501,226 481,748 373,752 28,158 239 403,712 389,139 295,961 30,452 12,950 3 150
151 Electrical machinery and equipment not allocable ................... 216 2,093,532 2,072,769 1,276,361 198,804 158 2,037,824 2,017,395 1,228,450 201,585 99,991 1,105 151
152 Transportation equipment, except motor vehicles...................... 1,206 11,191,658 11,121,781 9,110,473 828,92? 677 10,856,317 10,791,152 8,831,476 845,949 422,808 8o941 152
153 Aircraft and parts, including aircraft engines ..................... 475 8,795,436 8,757,870 7,241,873 690,020 255 8,670,424 8,635,022 7,142,575 697,655 349,221 8,803 153
154 Ship and boatbuilding and repairing. ............................... 585 919,078 908,892 736,469 56,230 335 745,592 737,457 585,5.36 63,036 30,561 137 154
155 Railroad equipment, including locomotives and streetcars ........... 84 1,381,028 1,359,808 1,053,732 80,%8 66 1,359,410 1,338,447 1,038,649 81,936 41,555 1 155
156 Motorcycles, bicycles, and parts ................................... 33 87,673 96 973 71,208 23106 14 75,508 74,857 60,803 2,894 1,316 - 156
157 Other transporta tion equi pmen t , excep t mo tor vehicles .............. 29 8,443 8 12
1 38 7,191 3197 7 5,383 5,369 3,913 328 155 - 157
158 Motor vehicles and equipment, except electrical...................... 1,149 20,465,356 20,212,831 15,389,676 2,116,081 688 16,753,399 16,528,690 12,241,330 2,321,402 1,176,571 966 158
159 Motor vehicles, including bodies and truck trailers ..... .......... 406 17,808,726 17,579,601 13,356,467 1,917,623 256 14,432,310 14,229,104 10,49?,514 2,107,334 1,068,905 10 159
160 Motor vehicle parts and accessories, and passenger trailers ........ 743 2,656,630 2,633,230 2,033,209 198,458 432 2,321,089 2,299,586 1,743,816 214,068 107,666 956 160
161 Ordnance and accessories .... ........................................ 88 469,532 464,226 3.38,724 41,230 45 454,267 "9,401 326,438 47,161 22,043 93 161
162 Guns, howitzers, mortars, and related equipment, including small 45 85,024 84,510 64,620 4,252 22 80,963 80,475 60,884 5,612 2,859 - 162
163 a rms , arms ammunition. .....

small 9 201 954 198,116 128,702 32,326 8 201,414 197,576 128,355 32,400 16,276 76 163
: ......
164 Other ordnance and accessories ...................................... 34 182,554
, 181,600 145,402 4,652 15 171,990 171,350 137,199 9,149 2,908 17 164
165 Scientific instruments; photographic equipment; watches, clocks ...... 2,027 3,891,598 3,848,001 2,512,762 415,508 1,205 3,633,479 3,591,853 2,312,245 433,872 218,065 580 165
166 Professional, scientific, and controlling instruments, including 1,896 3,474,754 3,434,548 2,209,191 395,730 1,153 3,288,401 3,249,771 2,066,429 408,016 205,109 580 166
photographic and optical goods.
167 Watches, clocks and clock-k-operated. devices ..................... 131 416,8" 413,453 303,571 19,778 52 345,078 342,082 245,816 25,856 12,956 - 167
168 Other manufacturing .................................................. lOo672 6,015,585 5,952,665 4,275,703 260,478 5,999 4,966,930 4,915,552 3,456,963 329,997 149,512 453 168
169 Jewelry (precious metal), silverware, plated ware.................. 723 452,086 449,3146 309,742 20,245 400 376,183 374,249 253,368 24,281 11,672 31 169
170 Costume Jewelry, except precious metal. . ........................... 466 188,514 187,503 139,894 3,108 256 136,926 136,096 99,816 5,488 2,157 1 170
171 Fabricated plastic products, except plastic materials .............. 1,567 793,905 788,862 589,554 26,703 983 650,235 646,486 475,233 39,498 17,015 110 171
172 Manufacturing not elsewhere classified ............................. 7,916 4,581,080 4,526,954 3,236,513 210,422 4,360 3,803,586 3,758,721 2,628,546 260,730 118,668 311 172
See footnotes at end of table. See text for explanatory statements and for "Description of the Semple and Limitations of Data."
Table I.-GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, COST OF GOODS SOLD AND OF OPERATIONS, NET INCOME OR DEFICIT, AND TAXES, BY MINOR INDUSTRIAL GROUP-Co.duuti
i
Gross Gross
~bst of Cost of
Industrial group goods a ld Net income aales and goods sold
compiled fsales and compiled Net income Income tax profits
Number of and of or deficit Number of and of
receipts rom opera- receipts from opera- taxi
returns operations returns operations
tions tions
(Th-...d (7h-...d (7h-...d (Th-...d (Th-..m (7h-...d (7h-...d (7b-...d (7h-...d (7b-...d
d.11 ... d.11.,.) d.11-) d.11... ) E
rb:;nof d.11... d.11-) d.11... d. I I-) doll... d.1 I...
(1) (2) (3) (4) _ (5) (6) (?) (8) (9) (10) (11) (12)
173 Public utilities ....................................................... 29,122 42,361,745 41,210,835 25,446,548 4,440,325 17,436 37,010,426 36,016,746 21,562,995 4,709,853 2,308,655 546 173
174 Transportation ....................................................... 21,456 22,079,136 21,273,548 15,037,133 1,004,902 12,590 17,020,174 16,365,854 11,342,564 1,233,657 558,552 140 174
175 Railroads, railway express .......................................... 442 10,727,918 10,177,972 7,397 925 452,247 291 8,082,451 7,646,678 5,436,442 558,495 259,314 - 175
176 Urban, suburban, and interurban railways (with or without buses)... 68 368,529 363,567 267,486
' 21,453 43 166,255 162,219 114,701 8,306 3,157 - 176
177 Trucking and warehousing.. ......................................... 11,192 4,761,512 4,697,611 3,195,619 163,070 7oOSO 3,750,349 3,699,904 2,502,169 201,088 83,208 72 177
178 Other motor vehicle transportation, including taxicabs and buses.: . 4,755 1,195,218 1,165,709 765,216 45,229 2,388 855,275 831,681 544,808 56,894 22,948 4 178
179 Pipeline transportation ............................................ 119 554,709 544,749 285,391 98,213 79 498,272 490,272 256,230 100,030 50,094 - 179
180 Water transportation ................ 1,662 1,923,337 1,843,692 1,443,694 63,944 942 1,352,681 1,.282,844 972,357 106,883 45,125 25 180
* ......
181 Air transportation and allied services ............................. 641 1,609,102 1,568,489 1,077,228 125,359 234 1,516,487 1,478,516 1,003,134 136,129 65,178 - 181
162 Services incidental to transportation .............................. 2,473 917,468 891,183 591,020 57,059 1,491 782,092 757,809 502,734 64,365 28,888 39 182
183 Other transportation .. ............................................ 104 21,343 20,576 13,554 1,234 42 16,312 15,931 9,989 1,467 640 - 183
184 Communication ........................................................ 4,433 8,560,810 8,436,336 4,642,035 1,312,755 2,713 8,426,150 8,303,993 4,566,174 1,340,164 676,414 336 184
185 Telephone (wire or radio) .......................................... 2,644 7,265,563 7,161,441 3,846,613 1,207,625 1,692 7,248,169 7,144,232 3,836,809 1,209,263 614,292 - 185
186 Telegraph (wire and radio) ......................................... 6 273,361 271,069 177,597 11,326 3 270,623 268,359 176,301 11,737 5,846 - 186
187 Radio broadcasting and television.................................. 1,707 1,018,388 1,000,954 615,913 93,581 962 903,970 888,640 551,184 118,916 56,223 336 187
188 Other communication ................................................. 76 3,498 2,872 1,912 223 56 3,389 2,762 1,880 248 53 - 188
189 Electric and gas utilities ........................................... 1,148 11,457,009 11,245,713 5,660,676 2,076,819 948 11,319,574 11,111,600 5,559,705 2,087,228 1,052,255 55 189
190 Electric light and power ........................................... 554 7,967,157 7,820,389 3,557,036 1,655,513 489 7,925,289 7,781,258 3,528,808 1,657,683 841,451 - 190
191 Gas production and distribution, except natural gas production..... 594 3,489,852 3,425,324 2,103,640 421,306 459 3,394,285 3,330,342 2,030,897 429,545 210,804 55 191
192 Other public utilities ............................................... 2,085 264,790 255,238 106,704 45,849 1,185 244,528 235,299 94,552 48,804 21,434 15 192
193 Water supply.. ..................................................... 1,679 198,859 193,410 71,038 37,648 939 187,986 182,620 65,574 39,238 17,720 10 193
194 Public utilities not elsewhere classified .......................... 406 65,931 61,828 35,666 8,201 246 56,542 52,679 28,978 9,566 3,714 5 194
195 Trade .................................................................. 238,523 173,303,172 171,027,259 137,388,866 3o647,762 143,432 147,772,449 145,891,876 116,769,381 4,356,658 1,890,522 2,320. 195
196 Wholesale ............................................................ 77,064 83,339,453 82,409,626 70,785,315 1,530,430 50,788 71,725,007 70,950,647 60,713,678 1,793,448 758,290 1,158 196
197 Commission merchants ............................................... 10,731 4,283,287 4,187,674 3,399,200 93,321 6,617 3,452,488 3,370,715 2,714,032 118,142 43,828 80 197
198 Other wholesalers .................................................. 66,333 79,056,166 78,221,952 67,386,115 1,437,109 44,171 68,272,519 67,579,932 57,999,646 1,675,306 714,462 1,078 198
199 Food ............................................................. 9,160 16,313,731 16,205,975 14,587,002 164,530 5,982 l3o637,298 13,542,516 12,137,933 199,483 83,194 ill 199
200 Alcoholic beverages .............................................. 2,177 4,468,'041 4,455,193 3,819,614 53,581 1,426 4,018,165 4,007,718 3,437,055 60,616 26,151 53 200
201 Apparel and dry goods ............................................ 5,283 4,272,279 4,221,924 3,611,695 56,401 3,095 3,369,906 3,346,206 2,838,875 79,038 30,425 27 201
202 Chemicals, paints, and drugs. .................................... 3,316 3,793,922 3,763,795 3,043,444 133,007 2,135 3,536,762 3,508,992 2,836,168 140,017 60,513 135 202
203 Hardware, electrical goods, plumbing and heating equipment ....... 7,350 9,080,013 8,996,096 7,474,998 187,835 5,186 8,064,397 7,989,819 6,633,757 218,831 96,367 66 203
204 Lumber, millwork, and construction materials ..................... 4,560 4,672,375 4,610,264 3,892,949 119,423 3,491 4,325,563 4,267,787 3,600,761 129,045 52,614 83 204
205 Machinery and equipment .......................................... 6,719 5,426,784 5,342,083 4,299,376 155,231 4,632 4,824,641 4,749,567 3,830,020 176,827 76,096 230 205
206 Farm products (raw materials) .................................... 3,169 6,919,877 6,870,423 6,427,067 85,624 2,321 6,017,419 5,972,158 5,568,873 99,145 42,820 8 206
207 Wholesalers not elsewhere classified ............................. 22,042 21,160,962 20,834,701 17,652,946 439,928 14,421 17,912,592 17,652,087 14,875,014 525,661 227,238 253 207
208 Wholesalers not allocable ........................................ 2,557 2,948,182 2,921,498 2,577,024 41,549 1,482 2,565,776 2,543,082 2,241,190 46,643 19,044 112 208
209 Retail ............................................................... 139,953 81,237,530 80,007,109 59,679,749 1,934,754 SOoOO3 68,498,994 67,493,352 50,249,289 2,329,795 1,039,508 1,011 209
210 Food ............................................................... 10,597 20,003,126 19,919,553 16,117,967 403,476 6,287 19,017,478 18,940,222 15,345,364 425,858 205,188 352 210
211 General merchandise ................................................ 7,545 17,240,209 16,904,288 11,073o366 946,983 4,833 16,277,192 15,969,913 10,439,151 975,099 484,663 130 211
212 Department stores ................................................. 2,640 13,498,188 13,211,400 8,672,713 760,588 2,044 12,900,614 12,637,115 8,282,687 797,067 397,240 57 212
~13 Mail-order houses ................................................. 670 490,812 486,862 316,238 7,667 265 302,573 299,648 199,704 11,603 5,318 31 213
214 Variety stores ................................................... 908 2,475,652 2,447,448 1,510,080 145,969 489 2,432,714 2,405,220 1,481,496 147,452 75o2lO - 214
215 Other general merchandise ........................................ 3,327 775,557 758,579 574,335 12,759 2,035 641,291 627,930 475,264 18,977 6,895 42 215
216 Apparel and accessories ...... ............... ..................... 18,469 5,717,805 5,585,415 3,615,516 113,421 11,133 4,559,379 4,452,466 2,868,414 159,420 62,472 216
40
217 Furniture and housefurnishings ..................................... 13,186 3,341,981 3,166,961 2,045,294 48,946 7,495 2,496,502 2,361,825 1,512,086 89,839 32,486 217
30
218 Automotive dealers and filling stations ............................ 25,218 19,662,983 19,431,501 16,605,603 115,037 13,149 13,983,005 13,820,994 11,725,892 249,408 97,164 61 218
219 Automobiles and trucks .............. 19,195 17,654,041 17,455,054 15,130,206 74,027 9,451 12,256,245 10,459,427
12,122,531 197,879 76,095 21 219
220 Parts, accessories, tires, batteries ............................. 2,819 892,586 877,225 641,277 17,383 1,740 740,548 727,822 531,269 23,795 9,523 9 220
221 Filling stations ................................................. 3,204 1,116,356 1,099,222 834,120 23,627 1,958 986,212 970,641 735,196 27,734 11,546 31 221
222 Drug stores. ....................................................... 5 916 1,727,014 1,704,180 1,161,614 41,008 3,975 1,498,558 1,478,225 1,003,812 48,360 19,726 36 222
223 Eating and drinking places ......................................... 18:644 2,715,819 2,679,153 1,393,109 30,808 7,732 1,787,845 1,764,416 917,131 70,229 25,965 207 223
224 Building materials and hardware.. .................................. 15,992 4,988,308 4,901,523 3,788,078 120,771 10,433 4,169,649 4,097,644 3,150,399 155,171 56,561 57 224
225 Lumber and building materials .................................... 9,710 3,739,336 3,678,951 2,832,890 110,135 6,879 3,276,024 3,223,119 2,477,056 128,454 47,526 56 225
226 Hardware and farm equipment ...................................... 6,282 1,248,972 1,222,572 955,188 10,636 3,554 893,625 874,525 673,343 26,717 9,035 1 226
227 Other retail trade ................................................. 24,386 5,840,285 5,714,535 4,079,202 114,304 14,966 4,709,386 4,607,647 3,287,040 156,411 55,283 98 227
228 Liquor stores .................................................... 3,059 476,173 473,825 384,391 4,800 1,920 364,489 362,621 294,335 7,169 2,065 1 228
229 Jewelry stores ................................................... 3,010 596,055 558,540 299,162 17,698 1,803 466,881 435,721 230,643 25,498 9,605 17 229
?30 Other retail stores .............................................. 14,625 3,577,365 3,520,656 2,527,553 73,792 9,034 2,932,032 2,886,117 2,074,937 95,883 33,569 66 230
231 Retail trade not allocable ....................................... 3,692 1,190,692 1,161,514 868,096 18,014 2,209 945,984 923,188 687,125 27,861 10,044 14 231
232 Trade not allocable .................................................. 21,506 8,726,189 8,610,524 6,723,802 182,578 12,641 7,548,448 7,447,877 5,806,414 233,415 92,724 151 232
See footnotes at end of table. See text for explanatory statements and for "Description of the Semple and Limitations of'Data.-I
9
Table I-GROBS RECEIPTS FROM SALES AND FROM OPtRATIOM COST OF GOODS SOLD AM OF OPERATIONS, NET INCOME OR DEFICIT, AND TAXER, BY b0ft DIDUMIAL OROUP-Coodsmol
Gross Gross Cost of

Total receipts from Coat f Total Excess
receipts from goods gold
Industri al group f compiled sales and goods sold Ne t income compiled Net I... Income tax
sales and profits
N umbe r 0 of or deficit Number of and of
returns receipts from one
per.- returns receipts from opera- operations taxI
ti0 operations
tions
(V--d (7ho"" (lh--,d (Th--W (n-nd (rh-d (rb.--4 (Tb-..nd (Th--d
d.11... d.1le-) d.1 = 1 d.11... d.1f... dil .. d.11... d.1 I... d.J1 ...
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (1-2)
233 Finance, insurance, real estate, and lessors of real property........... 205,339 29,795,719 12,374,381 3,777 380 8,003,817 138,764 26,469,350 11,222,698 3,433,453 8,293,140 2,093,547 643 233
234 Finance ............................................................... 47,602 12,557,977 2,612,468 '

258,646 3,652,031 34,208 10,895,449 2,398,274 176,399 3, 708,202 1,235,436 274 234
235 Banks and trust companies ........................................... 14,680 7,273,259 908,356 1,217 2,080,915 13,792 7,015,934 895,435 549 2,090,115 877,661 81 235
236 Bank 1and trust companies other than mutual savings banks......... 14,194 6,276,716 894o567 1,188 2,048,076 13,496 6,236,183 885p243 520 2,053,120 872,946 81 236
237 = savings banks .............................................. 486 996,543 13,789 29 32,839 296 779,?51 10,192 29 36,995 34,715 - 237
238 Credit agencies other than banks .................................... 24,418 3o"1,894 lp283,726 27,634 531o113 14,155 2,161,757 1,171,578 22,899 565,704 250,009 198 238
239 Savings and loanx building and loan associations .................. 5,847 1,365,940 86,500 75 12,641 1,413 183,706 11,197 - 15,965 5,415 - 239
240 Personal credit agencies .......................................... 5,420 1,135,315 562,8014 14,895 294,975 4,298 1,093,383 549,100 14j737 306,486 137,365 119 240
241 Business credit agencies .......................................... 2,756 634,566 481,084 5,668 163,909 1,843 614,409 471,438 3,556 169,164 81,181 35 241
242 Other credit agencies .... ........................................ 1,765 176,606 110,152 5,953 31o054 lo482 163,526 101,135 4,135 32,510 12,952 33 242
243 Credit agencies and finance not allocable... ..................... 8o630 129,467 43,186 1,043 28,534 5,119 110,733 38,708 471 4lo579 13,096 1 243
2" Holding and other investment companies .............................. 6p899 1,2%,034 63,216 15,465 976,992 5,088 lp264,610 59,583 13,783 985o932 84o812 - 2"
245 Operating-holding companies .......................... : ............ W4 203,106 42,719 7ol68 117,514 745 198,038 40,313 5,813 118,270 26,022 - 245
246 Other investment and holding companies ............... ............ 6,015 1,092,928 20,497 8,297 859,378 4,343 1,066,572 19,270 7,970 867,662 58,790 - 246
247 Security and commodity-exchange brokers and dealers ................. 1,603 546,790 357,170 214,330 63,111 1,173 "g, 148 271,678 139,168 66,451 22p954 5 247
248 Insurance carriers'* and agents ........................................ 12,890 11,240,756 7,591,984 2,899,720 3p457,349 9,572 10,783,053 7,163,923 2,758,807 3,486,390 489,183 46 248
249 Insurance carriers" ................................................. 3,004 10,416,658 6,806,755 2,757,%4 3,384,840 2,638 10,091,179 6,508,039 2,648,OM 3,404,070 460,380 15 249
250 Life insurance companies4 ......................................... 1,089 3,011,498 - - 2,656,566 1,042 3,010,399 - - 2,656o882 177,069 - 250
251 Mutual insurance, except life or marine or fire insurance compa- 750 95,435 - - 66,647 722 94,345 - - 67,099 26,107 - 251
nies issuing perpetual policies.4
252 Other insurance carriers .......................................... 1,165 7,309,725 6,806,755 2,757,964 661,627 874 6,986o435 6,508,039 2,648,070 680,099 257,204 15 252
253 Insurance agents and brokers ........................................ 9, 8ft 824,098 785,229 141,756 72,509 6p934 691,874 655,984 110,737 82,310 28,803 31 253
254 Real estate~ except lessors of real property other than buildings ..... 139,821 5,697,810 2,150,95S 608p391 785,317 91,706 4,520,211 1,643p539 488,990 991,769 318,763 294 254
255 Real estate operators, including lessors of buildings ............... 104p506 4,092,960 1,222,640 104,955 545,312 70,798 3,148,348 869,092 81,615 692,303 224,199 1" 255
256 Developers of real property, including traders on own account....... 20,638 1,101,418 540,047 450,719 166,881 13,437 939,399 4",042 364,310 203,589 66,600 143 256
257 Real estate agents~ brokers,and managers ............................ 4,191 230,394 200,503 27,881 17,146 2,565 193,082 165,938 22,188 22,041 6,873 7 257
258 Title abstract companies ............................................ 1,340 81,547 76,053 9,340 15,716 9" 76,159 70,775 7,645 15,826 6,161 - 258
259 Other real estate, except lessors of real property other than build- 9,146 191,501 111,715 15,496 40,262 3,962 163,223 93,792 13,232 48,010 14,940 - 259
ings.
260 Lessors of real property, except buildings ............................ 5,026 299,176 18,971 10,623 109,120 3,278 270,637 16,962 9,257 116,789 50,165 29 260
261 Agricultural, forest, and similar properties ........................ 906 22,673 2,065 771 6,489 550 18,266 998 70 7,989 2,774 11 261
262 Minin , oil, and similar properties ................................. 2,529 171,248 12,952 7,715 70,272 1,640 162,524 12,155 7,051 74,323 31,435 18 262
263 Railroad property................................................... 221 69,397 491 - 16,071 151 55,197 419 - 17,458 8,392 - 263
264 Public-utility property ............................................. 47 21,706 - - 11,634 27 21,701 - - 11,636 5,912 - 264
265 Other real property, except buildings ............................... 1,323 14,152 3,463 2,137 4,654 910 12,949 3,390 2,1.36 5,383 1,652 - 265
266 Services ................................................................ 64o845 12,593,627 12,003,977 6,858,980 591,128 34,682 10,146o869 9,690,054 5,536,956 788,143 324,432 1,485 266
267 Hotels and other lodging places ....................................... 7,474 1,947,902 1,638,972 735,"9 75,617 3,620 1,3%,336 1,249,616 552,951 106,269 43,273 138 267
268 Personal services ..................................................... 12,540 1,867,418 1,845,596 1,052,721 62,122 7,122 1,453,944 1,436,177 818,036 81,410 29,685 227 268
269 Laundries, cleaners, and dyers ...................................... 6,890 1,408,231 1,393,959 824 005 " 686 3,827 1,088 522 1,077,234 636,353 58,039 22,315 200 269
270 Photographic studios, including commercial photography .............. 936 100,213 ", 569 57,848
' 11948
' 527 76,109
P' 74 660 43,446 3,830 1,370 7 270
271 Other personal services ............................................. 4,714 358,cY74 353,068 170,W 15,488 2,769 299 313 284,283
' 138,237 19,541 6,000 20 271
272 Business services. .................................................... 15,792 3,650,720 3,548,446 2,073,949 183,676 9,434 3,190,456 3,102,159 1,814,581 232,734 96,381 264 272
273 Advertising ......................................................... 3p273 2,017,664 2,000,803 1,377,361 82,688 2,233 1,819,"g 1,804,564 1,247,975 90,489 41,526. 125 273
274 Other business services ............................................. 12,519 1,633,056 1,547,643 6%,588 100,988 7,201 1,371,007 1,297,595 566,606 142,245 54,855 139 274
Z75 Automotive repair services and garages ................................ 6,151 668,506 610,001 308,721 19,083 3,433 483,566 440,133 224,021 34,199 11,682 52 275
276 Miscellaneous repair services, hand trades ............................ 3,597 472,168 466,057 316,398 4,297 1,704 283,137 279,670 164,538 13,605 4,977 14 276
277 Motion pictures ....................................................... 5,712 2,176,494 2,048,980 1,384,791 136,419 3,183 1,863,628 1,751,969 1,192,437 166,736 73,475 512 277
278 Motion picture production ........................................... 1,710 1,175,168 1,131,094 808,658 96,559 845 lp014,627 977,350 699,322 105,801 49,348 397 278
279 Motion picture theaters ............................................. 4,002 1,001p326 917,886 576,133 49,860 2,338 849,001 774,619 493p115 60,935 24,127 115 279
280 Amusement, except motion pictures ..................................... 6,785 874,347 839,228 439,953 68,773 2,934 680,531 652p749 333,248 86,175 38,027 199 280
281 Other services, including schools ..................................... 6,804 1,036,072 1,006,697 546,996 41,141 3,252 795,271 777p581 417, 1" 67,015 26,932 79 281
292 , Nature of business not allocable ........................................ . 9,586 125,947, 113,397, 54,758 1 4,748, 1,855, 94,615, 73,655 1 33,038, 15,731 4,895 - 292
--.L-
'The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for annual accounting periods ended July through November
1954 and returns for Part years which began in 1953.
2DOfiait.
2Income tax of mutual savings banks includes tax of separate life insurance departments computed at the special rates provided for life insurance companies by the InternalRevenue Code of 1954.
4For treatment of life and mutual insurance companies, a" text, P. 17.
NOTE: See text for explanatory statements and for -Description of the Sample and Limitations of Data.-
Tabl. 2-INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP
Major industrial group
Agriculture~ forestry, and fishery Mining and quarrying
Item Crude
All Total Total Bituminous
Ini" trial Farms and patrols= Nonmetallic
agriculture, agricultural Forestry Fishery mining and Metal mining Anthracite coal and and natural
groups mining mining and
forestry~ quarrying lignit e gas
services quarrying
and fishery mining
production
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
1 Number of returns ........................................ 722p8O5 1 8,779 1 971 1 262 .6 9,585 f 1,018 1 140 1 1,424 1 4p852 1 2,151 1
(7b-.-d d.11...
Receipts:
2 Gro :: ,sal s ............................................ 443,636,814 1,775,800 1,712,571 30,245 32p984 6,595,877 lo325pO6O 273,714 1,469,482 2,440,391 1,087,230 2
3 Or. receipts from operations ......................... 85,268,894 399p747 382p336 2,581 14p830 1,642,689 59p616 61,935 144p879 1,305,987 70,272 3
Interest on Government obligations (less amortizable
bond premium):
4 Wholly taxable ....................................... 2,111,710 2,257 2,103 118 36 11,233 4,988 340 2,272 2p798 835 4
5 Subject to surtax only............................... 98,731 59 59 - - 47 18 14 9 3 3 5
6 Wholly tax-exempt.................................... 392,403 157 152 5 - 750 101 24 287 159 179 E
7 Other interest ......................................... 9,015,158 5,538 5,289 199 50 18,258 7,879 574 3,101 5,986 718 7
8 Rents .................................................. 4p772,449 18p783 18,420 290 73 26p885 3pO55 5,204 7oOO9 8,459 3,158 8
9 Royalties .............................................. 570,436 6,604 6,526 78 - 39 964 3,742 1,190 1, 612 30 092 3p328 9
10 Net short-term capital gain reduced by net long-term 70,961 234 230 4 - 2P650
1 543 6 95 1P965
1 41 1C
capital loss.
11 Net long-term capital gain reduced by net short-term lp929,629 25,761 17,322 8,163 276 82,683 8,414 2,930 20,103 47,011 4p225 11
capital loss.
12 Net gain, sales other than capital assets .............. 722,930 2,784 2p2ll 257 316 8,244 181 65 480 7,392 126 12
13 Dividends, domestic corporations ....................... 2,332,226 4,264 3,894 357 13 62,245 19,956 11,957 7p8O9 21,509 lpO14 131
14 Dividends, foreign corporations ........................ 613 p 140 3,784 3,782 2 - 1,869 121 2 209 1,537 - IA
15 Other receipts ......................................... 3,286,969 26,805 26,180 559 66 57,525 4,464 5,248 10,548 30,023 7,242 1~1
1 1
16 Total compiled receipts .......................... 554,822,450 2,272,577 2,181,075 42,858 48,644 6,550,919 1,438pl38 363,203 1,667pS95 3,903,312 1,178p371 If
Deductions:
17 Cost of goods sold..................................... 339,174,520 1,382,839 lp333,079 23,394 26,366 4,076,010 792,196 237,779 1,097,355 1,304,898 643,782 11,
18 Cosi of operations..................................... 50,550,672 202,292 193p482 450 8,360 lpO6O,484 43p539 42,131 116p423 817,566 40,825 If
19 compensation of officeri .............................. 9,113pl78 58,290 55,322 1,085 1,883 110,521 7,138 3,268 18,437 50,902 30,776 IS
20 Rent paid an business property ......................... 5 069 174 39,296 38,359 43 894 43,367 lp538 2,420 8,736 23,992 6,681 2C
21 Repairs ................................................ P
5PO261252
1 40pO12 38,348 44 1,620 123,951 21,864 5,633 32,790 28,109 35,555 21
22 Bad debts .............................................. lp350,044 2,615 2p534 23 58 15,289 3p134 1,019 1,375 7,709 2pO52 2-,
23 Interest paid.......................................... 6,27Op582 21,003 19,551 873 579 73p887 13,017 Ip657 11,064 42,484 5,665 2-
24 Taxes paid ............................................. 12,476,888 38,898 36,104 1,951 843 232,935 60,473 9,331 39p842 92,404 30p885 24
25 Contributione'or gifts................................. 313,764 1,135 1,118 14 3 4,843 470 92 593 2,655 1,033 2!
26 Depreciation and amortization .......................... 1.3,691,465 94,662 91,168 663 2,831 498,561 68,148 10,854 86,574 264p843 68,142 V
27 Depletion ......................... 2 358 630 2,960 2,088 872 - 653,384 121,878 4,476 39,270 422,322 65,438 2,
28 Advertising ....................... 51P 770 P193
, 1.3,121 1.3 p 060 1 60 13,231 420 lp550 1,902 5,856 3,503 2E
29 Amounts contributed under pension plans................ 2,840,259 3,543 3,528 11 4 114,116 9p687 7,923 69,788 23p497 3,221 25
30 Amounts contributed under other employee benefit plane. 910,573 1,568 1,539 13 16 11,815 1,104 380 5,179 3,241 1,911 3(
31 Net loss, sales other than capital assets.............. 280,742 2,831 2,774 8 49 9,718 1,651 362 2,599 4,583 523 31
32 Other deductions ....................................... 62p9D4,676 Z45pO72 234,402 3,287 7,383 767,144 90,009 32,961 120p721 399,014 124,439 3;
33 Total compiled deductions........................ 518,101,612 2,150,137 2,066,456 32,732_ 50p949 7,809p256 1,236p266 361,836 lp652,648 3,494,0175 1,064,431 X
34 Compiled net profit or net loss (16 less 33) ............. 36,72Op838 122p440 114,619 10,126 12,305 741p663 201,872 1,367 15,247 409,237 11.3p940 34
35 Net incow or deficit (34 less 6) ........................ 36,328p435 122,283 114,467 10,121 12,305 740,913 201,771 1,343 14,960 409, 0`78 113,761 3!
36 Net operating loss deduction ............................. 437,796 10,762 9,608 182 972 14,627 1,284 370 1,299 9,606 2,068 3(
37 Income tax ............................................... 16,823p241 65p713 61,948 3,513 252 427,464 111,268 1,858 15,948 239,076 59,314 Y
38 Excess profits taX2 ...................................... 37p7ll 56 56 - - 1,250 - 5 - 1,171 74 3E
.
39 Total tax........................................ 16,860,952 65,769 62,004 3,51.3 252 428,714 111,268 1,863 15,948 240,247 59,388
'I 3~1
3 3 168,990
40 Compiled net profit less total tax (34 less 39) .......... 19,859p886 56,671 52,615 6,613 32,557 312,949 90,604 496 701 54p552 4(
Dividends paid:
41 Cash and assets other than own stock................... 11,913,430 49p279 44,976 4,297 6 740 8" 153,342 7,"6 35,964 497,434 :6,658
4, 41
42 Corporation's own stock ................................ 1,350,041 2,534 2,534 - - 18 903 993 - 1,352 Ilp285 5,273 4;
1
See footnotes. at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data."
4
ALL ACTIVE CORPORATION RETURNS 88
Tabl- 2--INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Costimod
Major industrial group-Continued
Manufacturing
It- I=ber and

Apparel and Printing,
Construction Food and aood Paper and
Total Tobacco Textile-mill products Furniture*. publishing , Chemicals
Beverages kindred products, allied and allied
manufacturing manufactures products made from and fixtures and allied
products except products
fabrics industries products
furniture
(12) j (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23)
1 Number of returns........................................ 2,759 10,289 172 5,270 , 13,750 5,684 4,598 2,737 , 14,158 7,356 1
1
d.11...
Receipts:
2 Gross sales ........................................... 3,087,425 259,962,455 7,324,198 36,378,094 3,672,699 11,543,621 8,592,162 5,057,305 3,422,743 8,428 728 8,081,053 18,624,840 2
3 Grose receipts from operations ........................ 14,127,527 4,584,339 19,165 126,524 2,161 185,134 265,138 71,708 7,784 19,304
, 615,282 71,595 ---
bond premium):
4 Wholly taxable....................................... 2,400 193,274 2,360 7,960 2017 5,739 951 2,970 1,298 12,336 6,582 24,421 4
5 Subject to surtax only .............................. 30 1,501 104 40 1 150 8 15 10 149 105 53 1
6 Wholly tax-exempt................................... 454 9,537 475 941 54 656 42 171 34 680 441 646 E
7 Other interest......................................... 8,661 209,675 7,290 16,106 940 9,752 2,381 4,420 2,273 8,759 4,615 18,965 -,
a Renta~ ................................................. 40,430 407,948 5,536 24,263 1,318 19,265 5,771 10,452 2,736 9,150 18,892 18,499 8
9 Royalties .............................................. 2,859 237,641 2,706 8,175 141 4,635 7,184 2,725 503 4,292 16,358 53,182 9
10 Net short-term capital gain reduced by net long-term 578 6,984 107 319 22 907 317 407 86 166 loOI72 365 IC
capital loss.
11 Net long-te- capital gain reduced by net short-tem 38,204 517,378 5,792 25o674 864 20,476 4,699 151,518 4,810 37,736 15,857 28,127 11
capital loss.
12 Net gain, sales other than capital assets .............. 4,637 19,447 679 1,947 3 2,251 333 2,454 335 1,386 2,867 796 12
13 Dividends, domestic corporations ....................... 16,131 838,408 3,090 15,731 1,381 9,360 1,516 5,319 1,045 14,125 23,029 137,272 1.3
14 Dividends, foreign corporations ........................ 3,186 452,327 943 30,326 532 2,350 198 31 1,563 5o659 5,069 53o563 14
15 Other receipts ......................................... 158,299 887,009 22,382 67,402 2,905 48,368 25,598 36,490 20,704 36,721 76,247 68,209 15
1 1 1 1
16 Total compiled receipts .......................... 17,490,821 268,V7,923 7,394,827 36,723,502 3,683,128 11,852,664 8,906,298 5,347,975 3,465,924 S'"'191 8,867,469 19,100,533 16
Deductions:
17 Cost of goods sold ..................................... 2,513,753 192,432,579 4,670,571 29,897,255 2,042,666 9,565,717 6,889,452 3,928t270 2,572,169 5,897,671 5,672,022 11,VA,446 1?
18 Cost of operations ..................................... 12,019,639 2,511,064 7,545 39,049 903 110,599 ~04,779 46,374 2,551 9,658 334,494 is 498 IS
19 Compensation of officers ............................. 548,631 3,173,121 54,960 243,191 9,600 164,823 255,166 1.00,710 96,781 110,165 293,988 238,799
' 19
20 Rent paid on business property ....................... 61,826 1,291,430 18,862 115,990 2,366 49,647 85,945 18,051 29,501 37,881 90,163 75,048 2C
21 Repairs................................................ 72,960 3,915,307 50,047 298,731 6,503 116,084 18,027 46,135 21,390 198,188 41,350 351,968 21
22 Bad debts .............................................. 19,269 227,802 7,545 23,844 1,187 9,749 10,335 7,911 6,240 6,963 25,395 l6o40`7 22
23 Interest paid .......................................... 49,574 1,092,762 31,016 103,585 29,499 55,219 27,027 21,979 10,784 40,295 28,706 105,381 23
24 Taxes paid ............................................. 184,024 6,464,587 1,042o217 372,516 963,726 187,020 108,529 90,769 50,655 139,182 1-23,685 238,120 24
25 Contributions or gifts................................. 8,623 174,787 4,200 12,435 896 7,924 5,30`7 2,819 3,005 9,558 9,956 12,576 25
26 Depreciation and awrti.ation.......................... 296,746 6,485,751 122,217 426,024 16,931 255,086 56,695 133t498 46,743 255,572 147,136 770,080 26
27 Depletion.............................................. 4o864 1,531,446 947 1,702 - 282 126 143,961 154 11,414 167 57,372 2?
28 Advertising ............................................ 39,249 3,350,758 315,062 656,832 148,349 83,202 84,957 20,562 45,335 48,099 50,522 595,769 28
29 Amounts contributed under pension plans ................ 27,187 1,790,928 21,520 98,189 8,856 36,841 20,548 9,304 11,020 58,622 52p2O5 178,982 29
30 Amounts contributed under other employee benefit plans. 20,381 621,782 10,359 53,377 2,569 19,708 14,355 4,740 6,132 14,522 13,785 39,724 3C
31 Net loss, sales other than capital assets .............. 3,013 144o566 12,640 -14,911 75 19,470 2,961 2,253 897 1,590 4,891 5,346 31
32 Other deductions ....................................... 1,133oO34 24,819,851 694,419 3,162,909 130,032 855,805 976,894 442,810 42-3,583 846,950 1,407,340 2,422,078 32
1 1 1
33 Total compiled deductions ........................ 17,002,773 250,028,521 7,054,027 35,52Ot539 3t364.,158 11,537,176 8,761,103 5,020,146 3,316,940 7,686,330 8,295,805 16,874,594 33
34 Compiled net profit or net loss (16 less 33) .......... 488,048 l8o299,402 340,800 1,202,963 318,970 315,488 145,195 327,829 148,984 892,861 571,664 2,225,939 34
35 Net income or deficit (34 less 6) ..................... 487,594 18,289,865 340,325 lo202oO22 318,916 314,832 1.45,153 327,658 148,950 892,181 571,223 2,225,293 35
36 Net operating loss deduction............................. 29,914 160,804 4,256 21,637 33 11,521 IOt274 6,548 3,850 2,448 7,941 10,787 36
37 Income tax ............................................... 256,353 9,451,660 188,427 635,410 166,105 225,920 90,911 137,544 86,727 452o516 288,775 1,103,970 37
38 Excess profits taX2.................. I ................... 512 30, S" 6G2 3,553 13 411 231 158 180 584 817 1 lo138 38
1
39 Total tax........................................ 256,865 9,482,559 189,029 638,963 166oll8 226,331 91,142 1.37,702 86,9017 1 453,100 289,592 1,105,100 39
40 Compiled net profit less total tax (34 less 39) .......... 231,183 8,816,843 151,771 564,000 152,852 89~157 54,053 190o127 1 62,077 439,761 282,072 1,120,831 40
Dividends paid:
41 Cash and assets other than own stock ................... 75o3OS 5,835,152 1-20,738 355,704 102,380 142,539 31,097 82t664 32,258 230,226 141,069 819,152 41
42 Corporation's can stock ................................ 30,941 932,731 10,591 39,103 459 15,213 7,916 7,752 5,371 71,543 21,512 26,113 42
1
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data."
Table 2.-INCOM9 STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued

Manufacturing-Continued
Fabricated
metal prod- Machinery,
Transpox- Motor Scientific
Primary ucts, except except Electrical tation. vehicles instruments;
Itm Petroleum Stone, Ordnance Other
Rubb er Leather Ordnance, tranOPOr- machinery equipment, and photographic
and coa c l ay~ and tation and m anufac-
and metal chinery, and except equipaient;
products equipment' accessories turing
products1 products 9"' industries and trarwi- equipment equipment motor except watches,
products and
portation vehicles electrical clocks
equipment electrical
(24) 1 (25) 1 (26) (Z7) 1 (28) (29) 1 (30) 1 (31) (32) (33) (34) 88 (35) 1 (36)
1 Number of returns ........................................ 715 793 2,5t

. 4,2a4 3 241 11,775 11,716 3,937 1,149 2,027 10,672 1
(Th-0 d.1 I-)
Receipts:
26,629,593 4,528,354 3,049,958 6,519,612 19,158,344 13,553,606 20,674,404 14,210,441 10,165,523 20,206,785 435,098 3,821,587 5,883,7OF7 2
2 Gross sales ............................................
Gross receipts from operations ......................... 879,499 31,667 4,970 34,050 478,031 94,243 523,131 68,149 956,258 6,046 29,128 26,414 68,958 3
3
Interest on Goverment obligations (less amortizable
bond premiun):
4 Wholly taxable ....................................... 27,300 3,346 680 8,076 19,948 5,538 14,462 9,121 2,122 32,750 362 3,110 1,635 4
49 4 8 41 95 105 119 150 5 229 - 14 47 5
5 Subject to surtax only ...............................
Wholly tax-exempt.................................... 1,480 11 49 464 408 975 552 894 99 125 7.7 23 240 f
6
7 Other interest......................................... 33,637 3,461 1,100 4,023 18,517 5,490 20,671 13,546 7,903 19,710 238 3,074 2,904 7
8 Rents .................................................. 152,305 4,892 2,946 6,750 42,018 13,380 29,455 12,210 4,976 9,957 1,477 3,234 8,466 V
Royalties .............................................. 40,803 1,607 420 6,960 8,560 4,363 31,609 17,965 12,921 5,442 61 3,931 3,098 9
9
10 Net short-term capital gain reduced by net long-term 397 14 35 172 558 233 553 796 175 93 1 71 118 ic
capital loss.
11 Net long-term capital gain reduced by net short-term 64,388 2,021 1,1017 11,510 22,888 24,011 25,658 19,802 6,008 26,001 1,300 4,603 12,528 11
capital loss.
Net gain, sales other than capital assets .............. 821 110 82 586 407 474 944 254 517 196 - 224 1 781 1.2
12
13 Dividends, domestic corporations ....................... 438,679 14,572 999 12,709 37,186 12,278 27,066 22,549 5,089 47,258 271 4,028 3:856 r-
14 Dividends, foreign corporations ........................ *134o335 24,365 34 19,874 7,446 21,207 35,585 18,819 4,279 75,671 46 7,446 2,986 14
15 Other receipts ......................................... 68,977 10,873 12,794 25,724 43,597 62,590 84,574 49,415 25,783 35,093 1,473 13,839 25,261 1-
16 Total compiled receipts .......................... 28,472,263 4,625,297 3,075,182 6,650,551 19,838,003 13,798,493 21,468,783 14,4",111 11,191,6M 20,465,356 469,532 3,891,598 6,015,585 IE
Deductions:
17 Cost of goods sold..................................... 20,115,873 3,285,839 2,436,346 4,247,533 13,783,764 10,023,209 14,539,846 10,315,388 8,363,521 15,388,789 316,321 2,504,250 4,227,661 l-,
18 Cost of operations..................................... 464,266 3-3,391 2,628 17,476 243,905 54,437 73,641 40, (Y74 746,952 887 22,403 8,512 48,042 V
19 Compensation of officers ............................... 45,029 29,607 63,674 106,684 141,161 323,977 373,042 140,068 52,451 62,411 5,061 64,697 197 076 15
20 Rent paid on business property ......................... 235,024 24,254 21,232 26,557 82,626 72,225 104,547 63,355 38,948 21,610 1,594 23,636 52:368 2C
21 Repairs ................................................ 407,083 72,625 16,390 166,416 961,712 190,478 303,192 135,390 144,917 262,967 8,142 49,197 48 375 21
22 Bad debts .............................................. 1.3,332 8,056 3,066 7,387 6,326 16,311 23,005 13,789 2,495 4,296 .96 3,225 10,842
, 2~
23 Interest paid .......................................... 127,548 22,100 10,929 23,194 137,576 47,019 97,655 54,988 33,104 40,681 3,137 16,757 24,593 21
24 Taxes paid ............................ z ................ 637,470 134,862 45,682 113,608 373,498 205,333 362,234 313,002 165,004 609,386 7,894 81,380 98,815 24
25 Contributions or gifts ................................. 1.2,311 1,486 2,491 6,41.3 15,060 10,352 21,044 13,609 6,763 7,881 419 4,075 4,207 2!
26 Depreciation and amortization .......................... 985,056 98,593 26,062 224,269 1,055,996 265,442 535,301 277,177 139,585 452,750 9,880 83,143 102,615 2f
27 Depletion.............................................. 1,152,543 217 47 58,662 93,549 269 4,284 77 39 577 1,254 209 3,694 21,
28 Advertising ............................................ 133,662 55,888 36,600 51,324 67,937 149,544 233,348 246,248 25o769 125,404 3,585 78,687 94oO73 2E
29 Amounts contributed under pension plans ................ 245,662 26,789 9,177 50,234 252,970 73,570 177,590 122,307 67,937 198,977 5,447 42,048 22,133 25
30 Amounts contributed under other employee benefit plans. 68,828 9,994 6,659 14,247 69,210 39,293 60,230 41,530 29,749 68,013 713 22,339 11,706 X
31 Net loss, sales other than capital assets .............. 7,134 817 687 5 12,279 8,017 12,961 6,223 3,047 19,11-5 55 992 3,195 31
32 Other deductions ....................................... 2,184,678 541,0174 281,401 738,105
'110 1,019,029 1,433,805 2,789,437 1,522,030 542,351 1,085,406 42,224 493,020 805,472 3-
33 Total compiled deductions ........................ 26,835,499 4,325,592 2,963,071 1 5,857,209 18,315,498 12,913,281 19,711,357 13,305,255 10,362,632 1 18,349,150 428,225 3,476,067 5o754,867 31
34 Compiled net profit or net loss (16 less 33) ............. 1,636,764 299,705 112,111 793,342 1,522,505 885,212 1,757,426 1,138,856 829,026 2oll6,206 41,307 415,531 260,718 -44
35 Net income or deficit (34 less 6) ........................ 1,635,284 299,694 112,062 792,878 1,522,097 884,237 1,756,874 1,137,962 828,927 2,116,081 41,230 415,508 260,478 3.'
36 Net operating loss deduction ............................. 2,108 1,285 3,981 4,790 4,058 7,052 9,182 11, 60`7 22,128 2,357 3,579 2,110 7,272 3(
37 Incom6 tax ............................................... 656,250 154,537 60,411 405,455 812,168 467,532 934,066 595,937 422,808 1,176,571 22,043 218,065 149,512 3-,
38 Excess profits tax2...................................... 130 156 322 418 1,356 1,855 4,656 3,286 8,941 966 93 580 453 3E
.
39 Total tax ........................................ 656,380 154,693 60,733 405,873 813,524 469,387 93 722 1 599,223 431,749 1,177,537 22,136 1 218,645 149,965 3S
40 Compiled net profit leas total tax (34 less 39) .......... 980,384 145,012 51,378 387,469 708,98 4 ::2 818,7G4 539,633 397,277 938 669 19,171 196,886 110,753 4C
Dividends paid:
41 Cash and assets other than oen stock ................... 1,033,412 84,723 28,956 216,368 455,626
1 22.
'5 7: 431,102 328,120 159,496 659 ' 306 7,419 93,783 58o639 41
42 Corporation's own stock ................................ 410,740 2,726 1 2,885 , 44,024 34,5 63,801 18,460 51,905 3,585 187 ~ 58,329 12,298 4;
1
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and limitations of Data."
U
Tablo 2-INCOM STATEWNTS, BY MAJOR INDUSTRIAL GROUP-Castiffi-d
Ma jor indu trial group-Continued
Public utilities Trade
Wholesale Retail
Item
Total Electric Other
public Transpor- Communi- Total
and gas public
utilities tation cation trade Total Commission Other Total General Apparel aM
utilities utilities Food
vholesale merchants holesalers retail merchandise accessories
(37) (38) (39) (40) (41) (42) (43) (45) (46) (47) (49) (49)
1 Number of returns ........................................ 29,122 21,456 4,433 1,148 2,085 238,523 77,064 10,731 66,333 139,953 10,597 7,545 18,469 1
( A--d d.11...
Receipts:
2 Gross sales............................................ 2,254,252 325,675 1,770,022 150,495 8,060 168,078,142 80,366,782 3,350,428 77,016,354 79,308,759 19,862,489 16,822,620 5,541,882 2
3 Gross receipts from operations ......................... 38,956,583 20,947,873 6,666,314 11,095,218 247,178 2,949,117 2,042,844 837,246 1,205,598 698,350 57,064 81,669 43,533 3
bond premium):
4 Wholly taxable ....................................... 41,477 25,116 10,670 5,530 161 23,236 10,482 1,327 9,155 11,831 866 7,687 874 4
5 Subject to surtax only............................... 1,113 404 691 16 2 219 114 - 114 77 28 16 7 5
6 Wholly tax-exempt.................................... 935 549 103 213 70 2,012 616 29 587 1,347 676 168 83 6
7 Other interest......................................... 113,554 68,20`7 11,133 33,495 719 164,336 65,282 8,087 57,195 92,051 5,028 30,138 2,716 7 9
8 Rents ..................................... I ............ 450,521 387,208 41,085 21,775 453 290,801 82,073 5,720 76,353 187 017 13,720 68,917 27,694 8
9 Royalties .............................................. 27,400 16,411 8,450 2,468 71 33,543 28,944 2,164 26,780 y 834 558 240 283 9
10 Met short-term capital gain reduced by net long-tem 3,570 2,374 1,099 93 4 5,404 2,693 371 2,322 2,373 85 63 129 10
apital loss.
11 X:t long-tem capital gain reduced by net shbrt-term 115,337 85,209 9,775 16,576 3, 7n 146o349 64,049 3,550 60,499 73,466 12,139 19,966 2,759 11
capital loss.
1.2 Net gain, sales other than capital assets.............. 20,782 17,825 2,332 411 214 15,322 5,984 201 5,783 8,175 687 464 816 12
13 Dividends, domestic corporations ................. I ..... 132,431 85,469 28,767 16,394 1,801 110,860 75,382 7,536 67,846 30,223 2,347 12,976 5,136 13
14 Dividends, foreign corporations ........................ 14,000 2,678 2,293 9,029 - 79,214 69,569 78 69,491 9,599 7 8,905 643 14
15 Other receipts ......................................... 229,790 1 114,138 8, 0`76 1 105,296 2,280 1,404,617 524,639 66,550 458,089 811,428 47,432 196,381 91,250 15
1 1 1
16 Total compiled receipts .......................... 42,361,745 22,079,136 8,560,elO 11,457,009 264,790 173,303,172 83, 339,453 4,283,287 79,056,166 81,237,530 20,003,126 17,240,209 5,717,805 16
Deductions:
17 Cost of goods sold ..................................... 1,730,716 203,217 1,418,632 104,252 4,615 135,920,180 69,710,889 3,097,769 66,613,120 59,559,143 16,085,405 11,053,004 3,598,842 17
18 Cost of operations ..................................... 23,715,832 14,833,916 3,223,403 5,556,424 102,089 1,468,686 1,0`74,426 301,431 772,995 320,606 32,562 20,362 16,674 18
19 Compensation of officers ............................... 347,292 256,913 33,550 50,164 6,665 2,M,01.4 lp242,506 137,738 1,104,768 1,432,357 122,976 119,393 165,315 19
20 Rent paid on business property ......................... 982,969 823,172 103,085 54,943 1,769 1,832,499 361,350 26o995 334,355 1,387,727 181,994 352o740 295,419 20
21 Repairs ................................................ 95,156 49,111 39,136 5,268 1,641 400,612 123,091 4,171 118,920 248,698 63,999 60,264 15,677 21
22 Bad debts.............................................. 47,0`78 9,790 21,508 15,393 387 325,998 124,509 7,340 117,169 179,465 8,709 40,303 16,036 22
23 Interest paid.......................................... 1,315,311 495p721 177,816 619,019 22,755 455,964 217,051 10,957 206,094 214,878 21,073 49,576 13,953 23
24 Taxes paid ............................................. 2,503,399 1, 116,806 478,959 882,519 25,115 1,502,510 582,334 19,397 562,937 827,526 145,481 243,557 66 572 24
25 Contributions or gifts ................................. 21,933 7,522 5,114 9,128 169 53,618 20,317 1,182 19,135 30,819 5,932 10,672 i 226
26 Depreciation and amortization.......................... 3,501,191 1,610,993 597,433 1,267,334 25,431 1,250,183 417,211 20o382 396,829 745,832 155,394 164,461 62! ,649
' 26
2'
27 Depletion.............................................. 67,816 26,678 41 41,054 43 17,875 13,978 594 13,394 2,610 225 169 56 27
28 Advertising ............................................ 146,731 84,457 37,118 24,802 354 1,744,369 432,870 22,633 410,237 1,219,424 134o712 449,774 145,021 28
30 Amounts contributed under other employee benefit plans. 115,849 32,407 50,054 33,067 321 70,679 25,771 1,404 24,367 42,320 18,767 5,086 2,877 30
31 Met loss, sales other than capital assets .............. 16,383 9,216 1,042 6,028 97 26,778 7,886 1,078 6,808 15,238 2,264 1,805 lo7OO 31
32 Other deductions ....................................... 2,881,695 1,437,566 842,820 576,235 25, 074 21,478,032 7,368,714 528,877 6,839,837 12,934,322 2o582,379 3,644,831 1,194,794 32
1 1 1 1 1
33 Total compiled deductions ........................ 37,920,485 21,073,685 7,247,952 9,379,977 218,871 169,653,398 81,808,407 4,189,937 77,618,470 79o301,429 l9o598,974 16,293,058 5,604,301 33
34 Compiled net profit or net loss (16 less 33) ............. 4,441,260 1,005,451 1,312,858 2,077,032 45,919 3,649o774 1,531,046 93,350 1,437,696 1,936,101 404,152 947,151 113 o 504 34
35 Met incow or deficit (34 less 6) ........................ 4,440,325 1,004,902 1,312p735 2,0176,819 45,649 3,647o762 1,530,430 93,321 1,437,109 1,934,754 403,476 946,983 113,421 35
6 Met operating loss deduction ............................. 31,903 20,737 1,659 8,849 658 82,003 37,250 4,282 32,968 37,X5 5,451 3,467 5,514 36
7 Income tax............................................... 2,308,655 558,552 676,414 1,052,255 21,434 1,890,522 758,290 43,828 714,462 1,039,508 205,188 484,663 62,472 37
38 Excess profits t&X2 ...................................... 1 546 140 336 55 15 2,320 1,158 80 1,0,78 1,011 352 130 40 38
9 Total tax........................................ 2,309,201 558,692 676,750 1,052,310 21,449 1,892,842 759,448 43,908 715,540 1, 0,519 205,540 484,793 62,51-2 39
0 Compiled net profit less total tax (34 less 39) .......... 2,132,059 446,759 636,108 1,024,722 24,470 1,756,932 771,598 49,442 722ol56 895,582 198,612 462,358 50,992- 40
Dividends paid:
41 Cash and assets other than own stock ................... 2,0174,942 498,987 509,279 1,0.50,911 15,665 925,923 357,533 19,457 338 076 528o901 81,373 295,664 29,011 41
42 Corporation's own stock................................ 41,120 12,268 6,992 20,592 1,268 125,399 56,989 2o721 54,268
, 6lo549 21,282 8,071 5,187 42
.
Table 2-INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued
Trade-Continued Finance, insurance, real estate, and lessors of real property
Retail-Continued Finance
Total finance ,
item insurance,4 Security and
Automotive Building Trad a not real estate, Credit Holding and comodity~
Furniture Eating and Other Banks and other
and house_ dealers and Drug materials allocable and lessors Total
trust
agencies exchange
drinking retail of real finance other than inve stment
furnishing. filling stores companies brokers and
places trade property bank s companies
stations and
hardware dealers
(53) (54) (55 (56) (57) (58) (59) (60) (61) (62) I
(50) (51) (52)
1 Number of returns ........................................ 13,186 25,218 5,916 18,644 1-5,992 24,716t 21,506 205,339 47,602 14,680 2,4,418 1 6,899 1 1,605 1
1 1 1 1 1 1 1 1
(A -d d.11-)
Receipts: -
3,117,594 19,196,237 1,690,492 2,609,065 4,860,146 5,608,234 8,402,601 167,141 11,792 4 3,225 8,563 2
2 Gross sales .................... I .......................
49,367 235,264 13,688 70,088 41,377 106,301 20`7,923 12,2(Y7,240 2,600,676 908,352 1,280,501 54,653 357o170 3
3 Gross receipts from operations .........................
bond premium):
Wholly t~axable ....................................... 438 728 155 234 440 409 923 1,832,470 1,450,498 1,378,063 48,468 12,534 11,433 4
4
5 - - 3 12 6 28 95,729 91,021 89,245 334 82 1,360 5
5 Subject to surtax only ...............................
144 130 8 19 30 89 49 376,994 258,973 242,320 1,534 3,970 11,249 6
6 Wholly 1~-exempt....................................
472 871 8,014 9,787 7,003 8,478,741 5,956,905 3,913,106 1,950,074 88,331 5,394 7
7 Other interest ......................................... 7,583 27,442
6,030 10,885 9,298 15,538 21,711 3,225,208 182,027 145,009 21,357 14,561 1,100 a
8 Rents .................................................. 6,332 28,603
57 650 384 283 1,765 194,956 61,417 2,646 48 58,559 164 9
9 Royalties .............................................. 56 323
30 50 1.31 251 338 49,159 40,994 28,290 3,164 8,058 1,482 10
10 Net short-term capital gain reduced by net long-term 114 1,520
capital loss.
1,987 4,306 7,392 6,293 8,834 956,021 745,20`7 421,719 30,594 286,693 6,211 11
11 Net long-term capital gain reduced by net short-term 17,203 1,421
capital loss.
8 777 1,524 878 1,163 645,253 148,440 11,262 6,610 6,402 124,166 12
12 Net gain, sales other than capital assets .............. 299 2,722
1,150 1,914 1,499 5o255 1,141,815 754,039 44,649 25,501 671,844 12,045 13
13 Dividends, domestic corporations....................... 1,003 2,590 1,608
1 - 2 11 3 46 49,841 45,458 208 9,090 35,?73 387 14
14 Dividends, foreign corporations........................ 27
1 57o635 90,714 68,550 375,151 210,530 88,386 61,404 46,111 1 l4o629 15
15 Other receipts ......................................... 157,058 150,194 1~,045 17,719
1
1
3,341,981 2,715,819 4,988,308 5,840,285 8,726,189 29,795,719 12,557,977 7,273,259 3,44lo894 1,296,034 546,790 1E
16 Total compiled receipts .......................... 19,662,983 1,727,014
Deductions:
1,156,208 1,355,966 3,760,448 4,027,151 6,650,148 111,980 8,102 - 1,594 6,508 - 17
17 Cost of goods sold ..................................... 2,034,948 16,487,171
10,346 118,432 5,406 37,143 27,630 52,051 73,654 3,665,400 250,544 1,217 26,040 8,957 214,330 18
18 Cost of operations .....................................
174,849 213,891 195,151 1,401,422 843,246 587,552 169,494 24,914 61,286 19
19 Compensation of officers ............................... 141,650 333,264 52,799 108,220
20 Rent paid on business property ......................... 85,690 154,332 55,861 123,757 35,263 102,671 83,422 382,593 1.39,035 79,186 46,563 3,981 9,305 2C
21 Repairs................................................ 9,265 31,100 6,117 29,674 1.3,325 19,277 28,823 222,197 43,983 34,767 7t369 980 967 21
25,672 34,319 701 1,120 20,925 31,678 22,024 686,517 664,663 272,934 388,202 2,809 718 22
22 Bad debts..............................................
18,046 59o225 2,830 8,852 19,917 21,406 24,035 3,148,631 2,482,757 1,249,945 1,177,513 39,023 16,276 23
23 Interest paid..........................................
24 Taxes paid.., ........................................ 41,032 122,681 21,881 60,735 54,994 70,593 92,650 1)239,800 320,777 231,384 66,813 3-3,888 8,692 24
25 Contributions or gifts ................................. 1,589 3,249 862 961 2,025 2,303 2,482 39,028 24,880 18,702 3,102 2,304 772 25
26 Depreciation and amortization.......................... 27,705 117,938 20,257 67,975 51,677 77,776 87,140 977,035 181,537 133,842 37,493 5,915 4,287 2E
27 Depletion.: ............................................ 181 600 26 84 1,184 85 1,287 78,926 34,409 511 261 32,820 817 27
28 Advertising ............................................ 106,693 216,939 20,842 22,518 37,912 85,013 92,075 234,177 159,920 88,754 65,223 889 5,054 28
29 Amounts contributed under pension Plans ................ 1,368 6,596 2,555 3,188 2,563 4,543 9,433 184,428 151,368 125,763 18,729 2,111 4,765 29
30 Amountecontributed under other employee benefit plans. 1,271 5,710 835 3,303 2,103 2,368 2,588 51,671 25,503 20,795 3,799 250 659 3C
31 Net loss~ sales other than capital "sets .............. 816 4,21-5 504 1,244 1,060 1,630 3,654 65, 123 35,591 31,237 3,063 1,118 173 31
32 Other deductions ....................................... 786,619 1,852,045 338,314 860,252 661,632 1,01.3,456 1,174,996 8,925,980 3,280,658 2,073,435 893,989 1 168,905 144,329 32
1 1
33 Total compiled deductions........................ 3,292,891 19,547,816 1,685,998 2,684,992 4,867,507 5,725,892 8,543,562 21,414,908 8,646,973 4,950,024 2,909,2,47 315,272 472,430 33
34 Compiled net profit or net loss (16 less 33) ............. 49,090 115,167 41,016 30,827 120,801 114,393 182,627 8,380,811 3,911,004 2,323,235 532,647 980,762 74,360 34
35 Net income or deficit (34 less 6)........................ 48,946 115,037 41,008 30,808 120,771 114,304 182,578 8tOO3,817 3,652,031 2,090,915 531,113 976,892 63,111 3~'
36 Net operating loss deduction ............................. 3,974 3,722 860 6,151 2,554 5,552 7,508 78,323 26,322 11,595 8,096 3,667 2,964 3E
37 Income tax ............................................... 32,486 97,164 19,726 25,965 56,561 55,283 92,724 2,093,547 1,235,436 877,661 250,009 84,812 22,954 35
207 81 188 - 5 3E
38 Excess profits taX2 ...................................... 30 61 36 57 98 151 643 274
39 Total tax ........................................ 32,516 97,225 19,762_ 26,172 56,618 55,381 92,875 2,094,190 1,235,710 877o742 250,197 1 84,812 22,959 139
L
40 Compiled net profit less total tax (34 less 39) .......... 16,574 17,942 21,254 4,655 64,183 59,012 89,752 6,286,621 2,675,294 1 "5,493 282,4199 895,950 51,401 ~ 4C
Dividends paid:
41 Cash and assets other than own stock ................... 12,866 38,960 10,664 11,791 24,778 23,794 39,489 2,048 735 1 529 793 523,369 204, 791 635 10,590 43
42 Corporattion's own stock............................... 3,217 11,766 1,427 565 7,033 3,001 6,861 182,281 ' 150,779
' [ 98,694 24,054 25,79
' 2,237 4;
1 1 1
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Date.-
TSWO 2-INCOME STATEMENTS, BY MAJOR UST.LkL OROUP-C~Uaued
MAjor industrial group-Continued
Finance, insurance, real estate, and

Services
lessors of real property-Continued
Insurance carriers4 and agents

6.1 estate,
tem ature of
Autc- Miscel-
cept Lessors
busine a
Hotels motive laneous Amusement, Other
lessors of of real
Total Total not
and other Personal Business repair repair Motion except services,
Insurance real property,
insurance Insurance allocable
4 agents and services lodging services services ser~vices servicesp pictures motion including
property except
carriers4 carriers
places and hand pictures schools
brokers other than buildings
and agents
garages trades
buildings
(63) (64) (65) (66) (67) (68) (69) (70) (71) (72) (73) (74) (75) (76) (?7)
1 Number of returns ........................................ 12,890 3,004 9,886 139,821 5oO26 64,845 7o474 12,540 15,792 6,151 3,597 5,712 1 6,785 1 6,804 9,586
1 1 1 1
(77--d d.1 I...
Receipts:
2 Gross sales............................................ 67,980 65,132 2,848 76,180 11,189 1,673,044 617,288 280 822 244 211 137,294 140o962 100,425 71,996 80,046 42,678
3 Gross receipts from operations ......................... 7,524,GO4 6,741,623 782,381 2,074,778 7,782 10,330,933 loQ21,684 1,564:774 3,304:235 472,707 325,095 1,948,555 767,232 926 , 651 70, 719
bond premium):
4 Wholly taxable ....................................... 373,884 373o217 667 6,677 1,411 5,243 1,316 378 1,111 82 20 607
929 800 120
5 Subject to surtax only ............................... 4,626 4,617 9 79 3 31 1 2 14 1 - 1 11 1 2
6 Wholly tax-exempt .................................... 116,584 116,534 50 1,273 164 1,437 52 52 1,071 63 - 16 154
29 127
7 Other interest......................................... 2,444,365 2,440,178 4,187 75,035 2o436 15,398 3,584 1,270 2,735 1,009 150 4,269 920 1,461 997
8 Rents .................................................. 242,878 238,236 4,642 2,683,362 116,941 310o195 166,417 4,330 30,818 42,065 2,164 49,241 9,391 5,769 1,678
9 Royalties .............................................. 215 47 168 4,979 128,345 27,284 297 665 1.2,225 411 32 8o233 4,195 1,226 185
10 Net short-term capita l gain reduced by net long-tem 1,756 1,666 90 6,223 186 lo807 122 93 1,034 78 353 63 50 14 575 V
capital loss.
11 Net long-tem capital gain reduced by net short-term 67,317 61,786 5,531 125,720 17,777 43,927 12,310 4,256 9,857 6,901 894 4,531 3,898 2o28O 3,969 11
capital loss.
12 Net gain, sales other than capital assets.............. 2,074 1,688 386 493,734 1,005 5,581 859 605 1,485 392 79 161 1,900 100 880 L
13 Dividends, domestic corporations ....................... 349,672 342,831 7,041 34,598 3,306 25,847 3,835 1,815 12,478 691 26 5,821 778 403 225 1:
14 Dividends, foreign corporations ........................ 3,528 2,125 1,403 664 191 8,883 15 - lo931 - 3 6,773 1 160 36 1~
15 Other receipts ......................................... 41,673 26,978 14,695 114,508 8,440 144,017 20,122 8,356 28,515 6,812 2,390 47o476 13,339 17,007 3,756 it
1 1 1 1
16 Total compiled receipts .......................... 11,240,756 10,416,658 .24,.W 5o697oSlO 299,176 12,593,627 lo847,902 1,867,418 3,65Oo720 668,506 472,168 2, 176,494 1 874,347 1,036oO72 125,947 it
Deductions:
17 Cost of goods sold ..................................... 53,726 51,579 2,147 41,375 8o777 976,090 334,136 145o5ll 167,259 97,609 91,886 57,821 39,901 51,967 30,373 l-,
is Cost of operations ..................................... 2,845,994 2,706,385 139,609 567,016 1,846 5,882,890 401,313 9,07,210 1,906,690 221,112 224,512 1,326o970 400,054 495,029 24,385 IE
19 Compensation of officers ............................... 202,479 58,635 143,844 -347,412 8,265 591,318 41,772 120,826 213,146 33,880 30,098 43,391 38,082 70,121 12,569 IS
20 Rent paid on business property......................... 78,651 53,461 25,190 160,351 4,556 432,062 102,547 58,387 67o691 46,135 10,875 83,718 33,857 28,852 3,132 2C
21 Repairs ................................................ 4,614 3,228 1,386 170,461 3,139 155,337 64,041 22,004 l8o199 9,317 2,744 19,641 14,190 6,201 720 21
22 Bad debts .............................................. 7,389 2,862 4,527 14,393 72 24,575 3,737 4,554 6,355 2,007 1,591 2,197 1,239 2,895 901 22
23 Interest paid .......................................... 14,030 11,407 2,623 616,774 35,070 111,229 41,060 8,916 15,541 13,043 1,473 20,421 6,856 3o919 2o221 23
24 Taxes paid ............................................. 233,770 221,466 12,304 652,?47 32,506 307,219 82,217 42,270 46,661 19,115 8,545 47,881 41,966 18,564 3,516 24
25 Contributions or gifts ................................. 3,751 2,450 1,301 10,078 319 9,727 1,644 1,495 2,330 478 75 1,101 1,969 635 70 25
26 Depreciation and amortization .......................... 93,519 82,048 11,471 682,445 19,534 583,442 117,210 69,276 104,101
123o218 10,631 93,979 45,337 19,690 3,894 26
27 Depletion.............................................. 227 220 7 1,885 42,405 1,136 214 91
272 127 5 1 378 48 223 27
28 Advertising ............................................ 23,616 13,481 10,135 50,544 97 227,060 34,685 30,248 40,481 5,657 5,470 69,337 21,590 19,592 1,497 28
29 Amounts contributed under pension plans ................ 26,387 20,622 5,765 6,165 508 53,452 4,045 2,916 31,320 461 767 4,869 1,325 7,749 70 29
30 Amounts contributed under other employee benefit plans. 22,660 20,731 1,929 3,347 161 16,724 4,558 1,185
3,591 3,144 458 1,453 615 1,720 104 30
1 Net loss, sales other than capital assets .............. 1,881 1,250 631 27,542 109 llo523 769 836 2,669 2,934 97 1,883 1,728 607 807 31
32 Other deductions ....................................... 4,054ol29 3,665,459 388,670 lo558,685 32,508 2,617,278 538,285 386,930 821ol7g 102,926 77,917 266,396 156,458 267ol88 36,590 32
1 1 1 1
3 Total compiled deductions.. ...................... 7,666,823 6,915,284 751,539 4,911,220 189,892 12,001,062 1,772,233 1,805o244 3,465,973 649o360 467,871 2,040,059 805,545 994,777 121,072 33
~4 Compiled net profit or net loss (16 less . ..

33 .) ...........
........... :: 3,573,933 3,501,374 72,559 786,590 109,294 592,565 75,669 62,174 184,?47 19,146 4,297 136,435 68,802 41,295 4,975 34
5 Net income or deficit (34 less 6) ....... 3,457,349 3,384,840 72,509 785,317 109ol2C 591,128 75,617 62,122 183,676 19,083 4,297 136,419 68,773 41,141 4,748 35
6 Net operating loss deduction............................. 9,964 8,268 1,696 40,747 1,290 28o642 3,818 4olO5 5,651 1,610 734 5ol26 4,390 3,208 818 36
37 Income tax............................................... 489,183 460,380 28,803 318,763 50,165 324,432 43,273 29,685 96,381 11,682 4o977 73,475 38,027 26,932 4,895 37
8 Excess profits tax2 ...................................... 46 15 31 294 lo485 1 138
29 227 264 52 14 512 199 79 - 39
9 Total tax ........................................ 489,229 460,395 28,834 319,057 50,194 325,917 43,411 29,912 1 96,645 11,734 4,991 73,987 1 38,226 27,011 4o895 39
0 Compiled net profit less total tax (.34 less 39) .......... 3,084,7041 3oO4O,979 43,725 467,533 59,090 266,648 2,258 32,262 88,102 7,412 3694 62,448 30,576 14,284 320 40
Dividends paid:
I Cash and assets other than own stock ................... 299,103 279, 06 19,697 158,924 60,915 159,236 20,636 13,938 45,503 3o437 1,018 45,552 19,805 9,349 4,109 41
2 Corporation's own stock ................................ 18,681 , 15,055 3,826 12,221 400 15,982 3,278 1,611 2,478 1 1,589 - 3o051 2,300 1 1,675 150 42
.
'Loss or deficit.
2The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for annual accounting periods ended July through November
1954 and returns for part years which began in 1953.
3WSS after total taxpayment.
4For treatment of life and mutual insurance companies, see text, p. 17.
NOTE: See text for explanatory statements and for "Description of the Sample and Limitations of Data."
ACTIVE CORPORATION INCOME TAX RETURNS-1954 43
Tablo a.-INCOME STATEMENTS, BY RETURNS WITH AND WITHOUT BALANCE SHEETS
Returns with Returns with Returns with-

Item and without balance out balance
balance sheets sheets sheets
(1) (2) (3)
1 Number of returns ............................................................................................................... 722,805 667,856 54,949
(lh-...d d.11 ...

Receipts:
Gross sales .................................................................................................................. 443,636,814 437,316,182 6,320,632
Gross receipts from operations ............................................................................................... 85,268,894 84,162,134 1,106,760
interest on Government obligations (less amortizable bond premium):
Wholly taxable ......................................................................................
Subje 2,111,710 2,087,516 24,194
:,*,* ......
ct to surtax only.. ................................................................................................... 98,731 96,037 2,694
Wholly tax-exempt.. ........................................................................................................ 392,403 389,281 3,122
Other interest .......................... ..................................................................................... 9,015,158 8,928,323 86,835
Rents ........................................................................................................................ 4,772,449 4,648,773 123,676

Royalties .................................................................................................................... 570,436 557,550 12,886
Net short-term capital gain reduced by net long-term capital loss ............................................................ 70,961 69,522 1,439
Net long-term capital gain reduced by net short-term capital loss ............................................................ 1,929,629 1,884,670 44,959
Net gain, sales other than capital assets ..................................................................................... 722,930 694,826 28,104
Dividends, domestic corporations ............................................................................................. 2,332,226 2,308,749 23,477
Dividends, foreign corporations .............................................................................................. 613,140 612,610 530
Other receipts ................... ........ .................................................................................. 3,286,969 3,245,086 41,683
16 Total compiled receipts .................................................................................................. 554,822,450 547,001,259 7,821,191
Deductio a:
17 Cost of goods sold ........................................................................................................... 339,174,520 334,348,173 4,826,347
18 Cost of operations ........................................................................................................... 50,550,672 49,877,515 673,157
19 Compensation of officers. .................................................................................................... 9,113,178 8,959,844 153,334
20 Rent paid on business property ............................................................................................... 5,069,174 4,968,330 100,844
21 Repairs ...................................................................................................................... 5,026,252 4,954,386 71,866
22 Bad debts .......................... ......................................................................................... 1,350,044 1,333,831 16,213
23 Interest paid ................................................................................................................ 6,270,582 6,190,644 79,938

24 Taxes paid ................................................................................................................... 12,476,888 12,305,138 171,750
25 Contributions or gifts.. ..................................................................................................... 313,764 310,946 2,818
26 Depreciation and amortization ........................................................................................... .... 13,691,465 13,486,365 205,100
27 Depletion .................................................................................................................... 2,358,630 2,242,368 116,262
28 Advertising .................................................................................................................. 5,770,193 5,696,934 73,259
29 Amounts contributed under pension plans ...................................................................................... 2,840,259 2,803,432 36,827 29

30 Amounts contributed under other employee benefit plans ....................................................................... 910,573 900,202 10,371 30
31 Net loss, sales other than capital assets .................................................................................... 280,742 249,879 30,863 31
32 Other deductions . ............................................................................................................ 62,904,676 61,887,310 1,017,366 32
33 Total compiled deductions.. .............................................................................................. 518,101,612 510,515,297 7,586,315 33
34 Compiled net profit or net loss (16 leso 33) ................................................................................... 36,720,838 36,485,962 234,876 34
35 list income or deficit (34 less 6) .............................................................................................. 36,328,435 36,096,681 231,754 35
36 Net operating loss deduction ................................................................................................... 437,796 423,874 13,922 36
37 Income tax ..................................................................................................................... 16,823,241 16,645,457 177,784 37

38 Excess profits tax' ............................................................................................................ 37,711 36,828 883 38
39 Total tax ................................ ............................................................................... 16,860,952 16,682,285 178,667 39
40 Compiled net profit less total tax (34 less 39) ................................................................................ 19,859,886 19,803,677 56,209 40
Dividends paid:
41 Cash and assets other than own stock ......................................................................................... 11,913,430 11,831,629 81,801 41
42 Corporation's own stock ...................................................................................................... 1,350,041 1,343,690 6,351 1 42
'The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for
annual accounting periods ended Jul~, through November 1954 and returns for part years which began in 1953.
448404 0 - 57 - 4
IF
44 ACnVE COMRATION INCOME TAX RETURNS-1964

TaUz 4-RALANCE SHUTS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP
Agriculture, forestry, and fishery Mining and quarrying
Item All a Total ,

Tam and Antbra_ Bituminous Crude petro- tallis
industri 1 agriculture agricul Total Nome
forestry, Metal coal " leum and
groups Forestry Fishery mining and cite mining and
and tural mining c, lignite . natural gas
quarrying ning quarrying
fishery services mining production
(1) (2) (3) (4) (5) (6) (7) 9) (10) (31)
I Number of returns with balance sheets ........... 667,856 7,790 , 7,077, 252 , 461 8,704 , 885 4,481, 2,001 1
-
(9
1,) 191
(7b-d d.11ar.)
Assets:
2 Cash .......................................... 81,723,091 191,478 176,743 12,437 2,298 1,059,241 251,648 28,653 158,041 455,974 164,925 2
3 Note a and accounts receivable ................. 161,064,027 455,344 "0,698 10,046 4,600 1,509,114 269,519 43,623 261,945 774,600 159,427 3
4 Le : : Reserve for bad debts ................ 2,345,973 3,366 3,354 3 9 13,026 1,409 1,539 1,997 5 , 183 2898 4
5 Inventories ................................... 62,913,531 277,629 269,082 6,490 2,057 640,408 166,248 29,351 91,753 257,210 , 9Y,'846 5
6 Prepaid expenses and supplies ................. 2,091,188 24,113 23,216 359 538 106,935 38,463 674 21,679 36,374 9,745 6
Investmentat Goverment obligations:
7 States, Territories, and United States 17,760,801 7,961 7,238 718 25 34,554 8,597 1,374 17,139 4,705 2,739 7
possessions.
8 United States obligations .................... 108,572,771 111,039 104,994 4,045 2,000 778,235 414,589 25,630 126,310 162,883 48,823 8
9 Not stated .................................. 5,075,020 2,418 1,918 - 500 11,541 2,628 23 2,957 3,212 2,721 9
10 Other investments ............................. 160,552,644 254,986 242,154 10,325 2,507 1,396,228 511,512 131,644 221,238 440,754 91,080 10
11 Depreciable assets ............................ 266,933,819 1,372,160 1,318,176 15,742 38,242 8,153,500 1,532,996 298,681 1,444,792 3,953,680 923,351 11
12 less: Accumulated amortization ............. 3,739,799 3,585 3,410 - 175 107,421 56,425 - 8,050 4,687 38,259 12
13 Less: Accumulated depreciation ............. 89,534,620 583,362 560,990 9,518 12,854 3,728,365 584,884 182,960 703,043 1,848,895 408,583 13
14 Depletable assets............................. 8,921,431 101,"5 13,366 88,079 - 2,982,429 834,788 160,152 392,519 1,454,427 140,543 14
15 Less: Accumulated depletion ................ 3,772,010 24,025 4,074 19,951 - 1,420,139 499,935 90,566 159,565 623,246 46,827 15
16 Land .......................................... 10,977,354 381,288 366,942 12,999 1,347 166,335 34,745 6,983 16,583 78,886 29,138 16
17 Intangible assets............................. 1,651,196 6,772 6,757 - 15 64,923 8,540 55 995 51,999 3,334 17
is Other assets .................................. 16,435,611 48,135 43,7691 3,011 1,355 256,863 83,053 12,048 30,317 103,136 28,309 18
19 Total assets .............................. 805,300,082 2,620,450 2,"3,225 134,779 42,446 11,691,355 3,014,673 463,826 1,913,613 5,295,829 1,203,414 19
Liabilities:
20 Accounts payable .............................. 38,152,704 291,729 278,420 5,625 7,684 813,572 213,307 42,367 126,251 342,702 88,945 20
Sands, notes, mortgages payable:
21 Maturity lean than I year ................... 23,238,607 216,085 205,391 1,353 9,341 431,154 21,383 6, Wl 84,426 271,379 47,085 21
22 Maturity 1 year or more,..................... 90,797,304 333,791 303,149 19,184 11,458 1,713,453 485,396 57,466 223,299 860, 529 86,763 22
23 Reserves for estimated expenseal .............. 1,270,064 4,269 4,258 - 11 14,705 1,599 83 2,618 6,470 3,935 23
24 Prepaid income 1............................... 470,813 3,275 3,258 - 17 6,217 858 19 490 4,488 362 24
25 Accrued expenses .............................. 19,373,489 70,195 61,053 7,791 1,351 584,157 176,000 13,502 51,680 299,749 43,226 25
26 Other liabilities............................. 353,498,323 139,433 130,002 7,280 2,151 373,260 132,792 7,547 30,371 167,685 34,865 26
V Capital stock, preferred ...................... 15,632,163 36,132 33,527 2,387 218 273,436 53,096 18,310 70,917 107,379 23,734 27
28 Capital stock, oommon2 ........................ 90,730,133 834,208 764,386 56,451 13,371 2,289,300 611,173 127,829 335,099 923,009 292,igo 28
29 Surplus reserves .............................. 12,926,842 30,940 28,949 1,796 195 344,383 63,550 34,771 69,298 107,453 69,311 29
30 Surplus and undivided profits ................. 159,209,640 660,393 630,832. 32,912 3 3,351 5,047,718 1,255,519 155,051 919,164 2,204,986 512,998 30
31 Total liabilities......................... 805,300,082 2,620,450 2,443,225 134,779 42,446 11,891,355 3,014,673 463,8261 1,913,613 5,295,829 1,203,414 31
Receipts:
32 Gross sales................................... 437,316,182 1,7",650 1,683,347 30,245 31,058 6,269,004 1,297,623 273,714 l,"3,862 2,175,425 1,078,380 32
33 Gross receipts from operations ................ 84,162,134 386,379 369,331 2,561 14,487 1,611,972 59,614 61,935 142,446 1,278,294 69,583 33
Interest on Government obligations
(less amortizable bond premium):
34 Wholly taxable .............................. 2,087,516 2,257 2,103 118 36 11,182 4,982 340 2,257 2,776 827 34
35 Subject to surtax only ...................... 96,037 59 59 - - 47 18 14 9 3 3, 35
36 Woolly tax-exempt........................... 389,281 157 152 5 - 750 101 24 287 159 179 36
37 Other interest ................................ 8,928,323 5,381 5,132 199 50 17,545 7,771 574 2,851 5,639 710 37
38 Rents ......................................... 4,648,773 18,660 18,297 290 73 26,117 3,055 5,204 6,928 7,781 3,149 38
39 Royalties ..................................... 557,550 6,571 6,493 78 - 37,685 3,741 1,190 1,047 28,379 3,328 39
40 Net short-term capital gain reduced by net 69,522 234 230 4 - 2,437 344 6 95 1,951 41 40
long-term capital loss.
41 Net long-term capital gain reduced by net 1,884,670 24,857 16,547 8,163 147 76,404 8,414 2,930 19,645 41,217 4,198 41
short-term capital loss.
42 Met gain, sales other then capital assets ..... 694,826 2,268 1,695 257 316 8,053 168 65 432 7,309 79 42
43 Dividends, domestic corporations .............. 2,308,749 4,257 3,887 357 13 61,813 19,956 11,957 7,769 21,139 992 43
44 Dividends, foreign corporations ............... 612,610 3,784 3,782 2 - 1,869 121 2 209 1,537 - 44
45 Other receipts ................................ 3,245,086 26,236 25,611 559 66 56,047 4,413 5,248 10,291 28,878 7,217 45
46 Total compiled receipts ................... 547,001,259 2,225,750 2,136,666 42,838 46,246 8,180,825 1,410,321 363,203 1,638,128 3,600,487 1,168,686 46
Deductions:
47 Cost of goods sold ............................ 334,348,173 1,358,5" 1,310,132 23,394 25,038 3,809,795 766,568 237,779 1,077,788 1,090,132 637,528 47
48 Cost of operations ............................. 49, M,515 193,916 185,215 450 8,251 1,039,848 43,539 42,131 115,524 798,426 40,228 48
49 Compensation of officers ...................... 8,959,844 56,016 53,121 1,085 1,810 107,968 7,096 3,268 17,905 49,415 30,284 49
50 Rent paid on business property ................ 4o968,330 38,928 38,055 43 830 41,750 1,520 2,420 8,603 22,686 6,521 50
51 Repairs ....................................... 4,954,386 38,665 37,058 " 1,563 122,256 21,845 5,633 32,355 27,190 35,233 51
52 Bad debts ..................................... 1,333,831 2,562 2,481 23 58 15,145 3,127 1,019 1,356 7,604 2,039 52
53 Interest paid................................. 6,190,644 20,596 19,161 873 562 72,624 12,999 1,657 10,861 41,519 5,588 53
54 Taxes paid .................................... 12,305,138 38,008 35,253 1,950 805 224,844 59,937 9,331 38,838 86,134 30,604 54
55 Contributions or gifts ........................ 310,946 1,120 1,103 14 3 4,902 470 92 589 2,621 1,030 55
56 Depreciation and amortization ................. 13,486,365 91,831 88,477 663 2,691 487,373 67,996 10,854 84,858 256,068 67,597! 56
57 Depletion ..................................... 2,242,368 2, 942 2,088 854 - 635,820 121,664 4,476 38,464 406,088 65,128' 57
58 Advertising................................... 5,696,934 12,968 12,909 1 58 12,961 389 1,550 1,839 5,746 3,437 58
59 Amounts contributed under pension plow ....... 2,803,432 3,514 3,499 11 4 113,049 9,697 7,923 69,460 22,785 3,194 59
60 Amounts contributed under other employee 900,202 1,566 1,537 13 16 11,261 1,104 380 5,155 2o722 1,900 60
benefit plow.
61 Net loss, sales other than capital assets ..... 249,879 2,821 2,764 8 49 9,294 1,651 362 2,363 4,3% 522 61
62 Other deductions .............................. 61,887,310 239,823 229,684 1 3,287 6,852 1 735,543 88,295 1 32,961 115,586 1 375,690 123,011 62
63 ota-i -coopifeddeductions................. 510,515,297 2,103,840 2,022,537 32,713 48,590 7,444,333 1,207,887 361,836 1,621,544 3,199,222 1,053,844 63
64 Compiled net profit or net loss (46 less 63) .... 36,485,962 121,910 114,129 10,120
10,125 32,344 736,492 202,434 1,367 16,584 401,265 114,842 64
1
65 Met income or deficit (64 less 36) .............. 36,096,681 121,753 113,977 32,344 735,742 202,333 1,343 16,297 401,106 114 663 65
66 Net operating loss deduction .................... 423,874 9,511 8,496 182 833 14,274 1,284 370 1,260 9,302 2:0581 66
67 Income tax ...................................... 16,645,457 64,997 61,256 3,513 228 423,696 111,080 1,858 15,775 235,768 59,215 67
68 Excess profits tax ............................. 36,828 56 56 - - 1,250 - 5 - 1,171 74 68
69 Total tax................................. 16,682,285 65,053 . 61,312 3,513 228 424,946 111,080 1,863 15,775 236,939 59,289!. 69
,
70 Compiled net profit less total tax (64 less 69). 19,803,677 ::~::7 52,817 6,612 -32,572 311,546 91 496 809 164,326 55 553" 70
Dividends paid:
71 Cash and assets other than am stock .......... 11,831,629 3 44,950 4,297 6 735,674 151 ~ 480 7Y"6
3- -_ 35,4" 494,701 46,603 71
72 Corporation's can stock ....................... 1,343,690 2,534 2,534 - - 18,903 993 1,352 11,285 5,273 72
9,e footnotes at end of table. See text for explanatory statements and for ~Descriptian of the Sample and Limitations of Data.-
Table 4.-BALANCE SFIEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Coutinued
Manufacturing
Item
Apparel and Lmber
Construction Food and
Total Tobacco Textile-mill and wood Furniture Paper and
Beverages kindred products
manufacturing manufactures products products, and allied
products made from
except fixtures products
fabrics
furniture
(12) (13) (14) (15) (16) (17) (18) (19) (20) (21)
1 Number of returns with balance sheets ........... 33,700 115,820 2,660 9,791 169 5,111 13,076 5,346 4,"3 2,658 3
Assets: (7h--d &I I...

2 Cash.......................................... 1,074,456 15,745,280 397,820 1,224,206 117,965 687,081 420,130 346,322 183,236 593,760
3 Note :. and ecounts receivable ................. 3,717,256 28,420,911 562,242 1,960,527 538,648 1,414,498 950,333 546,640 412,892 727,402
4 Le : Reserve
a for ba d debts ................ 22,982 653,849 10,173 39,906 3,051 22,803 19,220 11,601 10,644 18,363 A
5 Invent or i 886,226 39,872,109 1,108,390 3,340,541 1,925,229 2,325,268 1,229,241 805,392 499,522 983,340 !
6 Prepaid exespense s and suppli es ................. 37,543 1,081,647 30,345 121,067 11,995 34,968 14,569 30,541 9 , 323 37 , 080 6
Investments, Government obligations :
7 States, Territories, and United States 16,041 342,087 8,496 17,336 1,"l 31,818 2,472 4,883 1,934 13 , 402 7
possessions.
8 United States obligations ................... 134,240 11,203,676 1", 553 487,485 11,749 289,945 45,632 190,849 71 346 54 , 035 6
9 Not stated .................................. 13,114 390,684 55,096 73,576 719 20,567 7,386 10,914 6:274 7 , 611 9
10 Other investments ............................. 625,271 16,793,232 262,829 926,671 62,884 663,621 194,632 250,430 93,806 876,975 IC
11 Depreciable assets ............................ 2,437,245 107,925,643 2,111,571 7,522,621 355,424 5,193,987 750,275 1,860,290 718,000 4,958,480 11
12 Less: Accumulated amortization............. 16,301 2,325,409 1,743 9,094 124 15,356 2,870 5,048 2,091 28,955 12
13 Less: Accumulated depreciation ............. 1,150,986 46,101,753 791,539 3,303,155 164,055 2,239,074 349,484 862,626 313,549 1 , 949 , 132 11
14 Depletable assets ............................. 38,007 4,552,680 -
5,051 12,858 3,766 1,630 392,974 9,485 238 , 285 14
15 Less: Accumulated depletion ................ 11,770 1,875,522 -
221 4,980 860 518 37,262 2,486 46 , 522 15
16 Land .......................................... 128,694 2,439,460 75,298 285,175 10,826 74,411 24,479 86,180 26,639 94,025 16
17 Intangible assets ............................. 12,845 748,417 21,699 66,205 7,622 12,448 9,227 3,529 3,743 4,611 17
18 Other assets .................................. 335,272 3,331,408 118,130 247,790 18,958 148,732 91,950 92,392 38,096 164,227 118
19 Total assets .............................. 8,254,171 181,890, 701 4,097,844 12,928,923 2,696,230 8,623,017 3,369,864 3,704,799 1,745,726 7,184,262 19
Liabilities:
20 Accounts payable .............................. 1,643,136 16,037,346 350,410 1,113,749 87,865 660,401 639,114 277 , 848 202 , 955 348 , 194 20
Bonds, notes, mortgages payable:
21 Maturity less than 1 year ................... 659,067 6,220,135 151,620 862,214 399,726 529,525 305,791 211,421 100,260 134,660 21
22 Maturity 1 year or more ..................... 630,589 21,547,364 63Z,968 1,379,530 639,044 736,935 192,053 251,833 116,759 996,448 22
23 Reserves for estimated expenses I .............. 22,424 650,607 7,923 32,093 1,872 21,973 6,670 7,321 6,516 17,113 23
24 Prepaid income 1 . .............................. 52,963 148,122 8,146 4,196 8 642 738 8,357 437 907 24
25 Accrued exp ense s .............................. 330,583 1.0,361,691 180,328 668,391 200,501 320,029 174,350 164,413 103,315 410,257 25
26 Other liabilities ............................. 1,533,252 7,672,316 220,596 408,282 11,503 171,326 132,235 126,776 73,795 210,997 26
27 Capital stock, preferred ...................... 128 ,066 6 , 733 , 611 188, 119 734,411 222,837 458,911
28 Capital stock, Coamon2 ................ ........ 1 , 087 , 584 33 , 785, 8 33 477,382 2,596,353
164,945 76,698 54,358 330,757 27
29 501,891 1,636,715 711,692 850,450 374,003 1,263,732 28
Surplus reserves .............................. 75,712 5,322,066 52,298
30 438,341 62,111 203,831 31,331 59,886 26,133 198,14o 29
Surplus and undivided profits ................. 2,090,795 73,411,610 1,828 , 054 4 , 691 , 363 768, 872 3 , 882 , 729 1 1 , 011 , 045 1 , 669 , 796 687 , 195 3,273,057 30
31 Total liabilities ......................... 8,254,171 181,890,701 4,097,844 12,928,923 2,896,230 8,623,017 3,369,864 3,704,799 1,745,726 7,184,262 31
Receipts:
32 Gross sales ................................... 3,058,999 256,699,367 7,293,027 36,211,902 3,640 733 11,401,214 8,520,530 4,988,500 3,378,296 8,276,561 32
33 Gross receipts from operations ................
13,882,863 4,514,731 18,666 124,140 2:161 194,761 255,036 70,733 7,531 19,187 33
(less amortizable bond premi=):
34 Wholly taxable .............................. 2,392 192,111 2,360 7,926 207 5,728 947 2,903 1 , 274 12 , 207
35 Subject to surtax only ...................... 34
30 1'.501 104 40 1 150 8 15 10 149 35
36 Wholly tax-exempt ........................... 454 9,472 475 941 54 656 42 171. 34 36
37 Other interest ................................ 680
8,567 207,130 7,276 16,004 702 9,697 2,366 4,321
38 Rents ......................................... 2,269 8,734 37
39,961 403,137 5,511 24,130 1 , 216 19 , 113 5, 730 10 , 291 38
39 Royalties ..................................... 2 , 735 9 , 086
2,857 236,767 2, 706 8,174 141 4,558 7,163 2 , 724 446 39
40 Net short-term capital gain reduced by net 4, 286
578 6,928 107 311 22 907 317 407
long-term capital loss. 86 166 40
41 Net long-term capital gain reduced by net 37,856 510,219 5,734 25 , 299 863 19 , 542 4, 630 149 , 618 4, 798 37,092 41
42 Net gain, sales other than capital assets ..... 4,598 18,206 3
679 1,936 2,248 310 2 , 422 283 607 42
43 Dividends, domestic corporations .............. 16,125 836,901 3,090 15,731 1,354 9,359 1,512 5,283 1,045 14,121 43
44 Dividends , foreign corporations ............... 3,186 452,066 943 30,326 532 2,350 198 31 1,563 5,659 "
45 Other receipts ...... .......................... 156,357 877,551 22,292 86,345 2,852 47,903 1 25,083 37,928 1 20,597 36,118 45
46 Total compiled receipts ................... 17,214,823 264,966,087 7,362,970 36,553,205 3,650,841 .11, 708,186 8, 823,872 5,275,347 1 3,420,957 8,424,653 46
Deductions:
47 Cost of goods sold............................ 2,492,681 190,020,942 4,646,732 29,761,432
4.8 2,019,751 9,"7,117 6,831,415 3,874 602 2,539,2" 5,780,513 47
Cost of operations ............................ 11,821,986 2,465,390 7,457 37,686 903 110,375 196,993 45:821
, 2 412 9,658 48
0 Compensation of officers ...................... 537,615 3,141,652 54,479 241,074 9,600 163,054 252,174 98 942 95:862 109,124 49
50 Rent paid on business property ................ 60,474 1,265,416 18,478 114,921 2,342 49,089 84,655 17,696 29,003 37,238 50
51 Repairs ...... ................................. 71,512 3,871,918 49,858 296,423 6,030 114,542 17,824 45,330 21,093 197,525 51
52 Bad debts ..................................... 18,754 224,958 7,525 23,575 1,163 9,649 10,182 7,784 6,197 6,859 52
3 Interest paid ................................. 48,575 1,081,753 30,805 102,754 29,460 54,277 26,772 21,7.15 10,518 39,676 53
4 Taxes paid ..................................... 180,336 6,387,302 1,040,459 370,850 960,409 184,541 107,250 89,253 50,129 136,454 54
5 Contributions or gifts ........................ 8,514 173,557 4,189 12,420 996 7,791 5,269 2,808 2,997 9,473 55
6 Depreciation and amortization ................. 290,948 6,392,487 121,730 423,289 16,623 252,514 56,149 131,732 46,2" 250,859 56
7 Depletion .... ................................. 4,844 1,437,247 847 1,700 - 282 126 141,326 151 11,333 57
S Advertising ...... . . ........................... 38,405 3,319,956 314,274 654,518 148,273 81,869 94,231 20,305 ",432 47,875 58
9 Amounts contributed under pension plans ....... 26,968 1 , 764 , 695 21 , 485 98 , 012 8, 856 36, 183 20 ,201 9,228 10,922 57,625 59
50 Amounts contributed under other employee 20,192 615,178 10,337 53 , 328 2 , 569 19 , 436 14 , 160 4 , 664 6 , 072 14,436 60
benefit plans.
I Net loss, sales other than capital assets ..... 2,646 129,805 12,636 5,2" 75 19,085 2 608 2,093 822 1 582 61
2 Oth er d e d uct i ons .............................. 1,107,825 24,480,323 679,880 3,143,323 128,212 844,574 966:874 436,249 408,143 837:437 62
3 Total compiled deductions ................. 16,732,275 246,772,579 7,021,171 35,340,549 3,335,162 11,394,378 8,676,883 4,949,548 3,274,241 7,547,667 63
,4 Compiled net profit or net loss (46 less 63) .... 482,548 18,193,508 341,799 1,212,656 315,679 313,808 146,989 325,799 146 , 716 876 , 986 64
5 Net income or deficit (64 less 36) .............. 482,094 18,184,036 341,324 1,211,715 315,625
Net operating lose deduction .................... 313,152 146,947 325,628 146, 682 876 306 65
6 29,224 158,189 4,256 21,518 33 10,976 10,030 6,421 3,673 2:289! 66
7 Income tax ........ 251,778 9,355,073 188,217 633,921 164,252 223,575 90,387 136,120 85,244 444,629 67
8 Excess profits ............................. 476 30,172 601 3,536 13 411 231 153 178 584 68
9 Total tax ................................. 252,254 9,385,245 188,818 637,457 164,265 1 223,986 90,618 136,273 85,422 "5.213 69
0 Compiled net profit less total tax (64 less 69). 250,294 8,808,263 152,981 575,199 151 , 414 89 , 822 56 , 371 189 , 526 61 , 294 431 773 70
Dividends paid:
1 Gash and assets other then own stock .......... 74,599 5,817,6,10 120,709 354,272 101,846 141,261 30,910 82,193 31,935 228,589 71
2 Corporation's ovn stock ....................... 30,941 929,633 10,591 39,103 459
1 1 1 15,213 7,655 7,752 5,371 71,543 72
nd of table. See text for explanatory statements and for Vescription of the Sample and Limitations of Data.,,
46 ACTIVE CORPORATION INCOME TAX RETURNS-1954
Table 4.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Condaued

Fabricated Machinery,
metal prod-
t except
Printing, Stone, ucts, except Electrical
Item Leather Primary ranspor
publishing , Chemicals Petroleum Rubber clay, ordnance, machinery
and coal d metal tation
and allied and glass
and allied
,ndus products products industries mechinery, equipment
tries products products products and trans- equindent
portation and
electrical
equip~ent
1 (26) 1 (27) 1 (28) (29) (30) (31) 1

(22) 1 (23) 1 (24) 1 (25)
13,410 6,993 705 752 2,443 4,079 3,133

1 Number of returns w~th balance sheets ........... 1
(7h- d doll-)
Assets:
Cash ..... ..................................... 762,760
745,500 1,417,016 1,641,375 209,268 153,086 570,252 1,405,702 931,484 1,756,602 2
2
1,119,692 1,983,420 3,332,716 751,471 370,421 763,445 1,744,615 1,454,940 2,905,327 1,922,978 3
3 Note:sand ccounts receivable ................. 4
40,444 51,376 175,576 15,557 7,538 19,871 39,361 31,950 61,194 29,589
4 Le : Reserve
a for bad debts ................
5
690,334 2,918,965 2,599,989 824,465 513,062 862,025 3,192,549 2,265,517 4,689,372 2,610,292
5 Inv ntories ................................... 6
82,170 242,683 8,575 6,113 50,018 132,036 43,323 52,618 31,214
6 Pre~id expenses and supplies ................. 46,252
Investments, Government obligations:
29 , 222 742 2 , 414 14 , 797 27,365 13,621 20,709 68,727 7
7 States, Territories, " United States 31 , 136 25 , 315
possessions.
277,221 1,406,952 1, " 097 132,881 33,941 423,018 1,261,690 286,327 831,446 750,496 6
8 United States obligations ...................
26,225 7,596 2,996 5G4 2,570 51,473 10,663 16,599 68,584 5,157 9
9 Not stated .................................. IC
693,822 1,942,800 4,994,233 181,428 153,333 450,685 1,054,736 462,094 1,122,245 900,124
10 Other investments ...... . .. ....................
2,759,358 11,037,962 22,737,313 1,598,046 429,751 3,637,532 15,956,929 4,120,205 7,309,967 3,317,425 11
I Depreciable assets ............................
8,097 445,951 277,892 28,046 992 60,312 958,685 40,670 203,861 86,821 1;
L2 Less: Accumulated amortization .............
10,586,540 792,284 214,644 1,522,974 6,820,717 1,714,183 2,981,347 1,148,085 1--
3 Less: Accumulated depreciation ............. 1,154,886 4,318,764
9,080 138,643 2,737,351 726 573 110,630 837,494 14,897 13,849 3,326 ld
L4 Depletable assets .............................
4,930 58,970 1,182,311 374 224 40,605 477,525 2,821 5,172 1,704 1!
5 less: Accumlated depletion ................ 63,318 1(
134,124 204,999 496,090 17,763 14,142 84,170 194,910 137,690 185,166
6 Land ............. ............................. 18,804
246,879 88,485 75,248 3,147 3,377 13,867 18,814 30,681 10,786 1,
7 Intangible assets .............................
235,712 249,321 336,887 19,633 28,668 68,150 240,584 173,610 283,742 172,187 1 U
8 Other assets ..................................
5,806,978 16,628,583 28,812,881 2,912,388 1,488,053 5,456,300 17,781,799 8,149,487 16,018,734 9,352,591 V
9 Total assets ..............................
Liabilities: 699,135 1,300,436 1,133,747 2(

558,306 1,006,002 2,596,656 274,902 178,848 345,059 1,213,089
20 Accounts payable ..............................
Bonds, notes, mortgages payable: 583,483 21
321,508 268,127 62,824 106,199 117,707 303,14C 398,402 429,277
1 Maturity less than 1 year ................... 221,229
2,480,634 4,121,923 592,239 112,245 498,362 3,100,754 590,683 1,796,211 1,027,263 2;
2 Maturity I year or more ..................... 448,332
Z
23,848 132,732 69,129 2,406 3,267 24,145 39,938 38,906 69,815 48~810
3 Reserves for estimated expenseal ..............
45,612 1,970 40,947 540 54 2,721 1,345 5,560 12,336 1,700 2,
24 Prepaid income'...............................
354,438 1,195,367 755,463 193,647 80,975 364,211 1,082,927 438,354 961,249 781,898 2!
5 Accrued expenses ..............................
410,249 506,778 374,720 114,946 38,251 160,715 498,409 387,818 687,664 372,233 21
6 Other liabilities .............................
293,105 890,291 376,291 115,214 68,781 152,910 861,423 269,826 546,487 226,471 Z
7 Capital stock, preferred ......................
923,544 2,675,289 7,687,862 342,552 286,941 1,224,834 3,237,015 1,579,945 3,124,461 1,486,478 2~
8 Capital stock, 'osnon2 ........................ 21
Surplus reserves .............................. 183,934 341,326 844,525 95,910 65,529 175,008 371,796 136,823 530,973 304,428
29 2,390,628 7,071,963 3,6(Y.,035 6,559,825 3,386,0801 Y
Surplus and undivided profits ................. 2,344,381 7,076,686 11,677,238 1,117,208 546,963
30
16,628,583 28,812,881 2,912,388 1,488,053 5,456,300 17,781,799 8,149,487 1 16,(DJ8,734 9,352,591 3-
31 Total liabilities ......................... 5,806,978
Receipts:
4,490,027 3,016,153 6,484,287 19,061,664 13,452,320 20,538,030 14,094,017 32
32 Gross sales ....... . . .......................... 7,991,690 18,406,425 25,535,623
878,481 31,659 4,970 33,149 476,923 go,824 521,987 68,066 3.
33 Gross receipts from operations ................ 603,139 70,432
interest on Government obligations
(less amortizable bond premius):
6,557 24,226 27,294 3,344 679 7,993 19,925 5,440 14,427 9,074 3~
34 Wholly taxable ..............................
105 53 49 4 8 41 95 105 119 150 3
35 Subject to surtax only ......................
Wholly tax-exempt ................. 437 646 1,480 11 49 434 408 975 552 894 3
36 3
32,498 3,460 1,099 3,970 18,504 5,452 20,631 13,539
37 Other interest .................... 4,561 18,560
3
150,494 4,891 2,848 6,723 41,970 13,334 29,375 12,043
38 Rents ............................. ..... 18,735 18,420
40,714 1,592 364 6,957 8,558 4,363 31,607 17,756 3
39 Royeltie........................... : .......... 16 215 53,078
397 35 164 558 232 549 796 4
40 Net sho~t-term capital gain reduced by net 1,071
' 365 a
1,102 11,421 22,860 23,954 24,550 19,770 4
41 Net long-term capital gain reduced by net 15,661 28,055 64,195 2,OG4
482 821 110 82 569 401 474 941 254 4
42 Net gain, sales other than capital assets ..... 2,866
136 495 438 583 14,572 999 12,556 36,885 12,278 27,058 22,549 4
43 Dividends, domestic corporations .............. 23 024
53,344 134,335 24,365 34 19,874 7,446 21,207 35,585 18,819 4
44 Dividends, foreign corporations ............... 51069
, , ,
67,532 68,410 10,723 12,655 25,520 43,383 61,837 83,646 48,886.1 4
45 Other receipts ................................ 75,776
4,586,770 3,041,077 6,613,660 19,739,580 13,692,795 21,329,057 14,326,613 4
46 Total compiled receipts ................... 8,764,906 18,878,113 27,373,374
Deductions:
3,261,422 2,411,467 4,222,954 13,722,261 9,949,212 14,442,249 10,230,823 4
47 Cost of goods sold ........ I ................... 5,608,698 11,590,717 19,381,008
331,217 17,954 464,027 13,391 2,628 16,897 243,039 52,353 72,880 40,074- 4
48 Cost of operations ............................
237,424 43,928 29,343 63,171 105,728 140,341 321,500 368,980 138,3172 4
49 Compensation of officers ...................... 290,6.34
74,116 223,786 24,184 20,078 26,412 80,747 71,627 103,944 62,907 5
50 Rent paid on business property ................ 89,161
401,896 71,877 16,297 165,664 951,642 188,264 301,960 153,547 5
51 Repairs ....................................... 40,842 347,052
13,199 7,786 3,009 7,320 6,313 16,193 22,847 13,677 5
52 Bad debts ..................................... 25,109 15,721
126,804 21,988 10,836 23,136 137,523 46,712 96,966 54,626 5
53 Interest paid ................................. 28,478 104,210
134,209 45,069 112,791 371,582 203,625 359,569 311,065 5
54 Taxes paid .................................... 122,0`72 233,381 605,463
2,494 6,396 15,047 10,326 20,996 13,553 5
55 Contributions or gifts ........................ 9,894 12,523 11,917 1,435
223,101 1,053,815 263,152 532,477 275,478 5
56 Depreciation and amortization ................ ! 145,339 763,564 947,802 97,614 25,712
Depletion ........................ : ............ 167 55,636 1,064,213 217 47 56,355 93,383 269 4,283 77 5
57
Advertising ...................... ............ 49,979 591,892 129,953 54,070 35,944 51,180 67,791 148,216 232,128 242,381 5
58
Amounts contributed under pension plane ....... 51,013 177,727 231,063 26,473 9,150 50,223 252,107 73,515 176,744 122,010 5
59
60 Amounts contributed under other employee 13,639 39,539 65,886 9,792 6,601 14,121 69,166 39,128 59,7C4 41,276
benefit plane .
Net loss, sales other than capital assets ..... 4,866 4,962 7,118 770 673 5,084 12,248 7,737 10,361 6,208 6
61
Other deductions .............................. 1,383,397 2,398,542 2,060,587 534,971 276,884 733,329 1 1,014,136 1,423,566 2,773,372 1,510,614 6
62
Total compiled deductions ................. 8,194,505 16,664,960 25,778,650 4,289,542 2,929,950 5,822,691 1 18,231,141 12,815,3195 19,579,460 13,196,688 6
63
64 Compiled net profit or net lose (46 less 63) .... 570,401 2,213,153 1,594,724 297,228 111,127 790,969 1,508,439 877,400 1,749,597 1,129,925
297,217 111,078 790,535 1,508,031 876,425 1,749,045 1,129,031 6
65 Net income or deficit (64 less 36) .............. 569,964 2,212,507 1,593,244
1,285 3,964 4,790 3,862 6,978 8.889 11,582 6
66 Net operating loss deduction.................... 7,631 10,488 2,108
59,859 403,926 804,724 462,550 928,571 590,158 6
67 Income tax......................... ............ 286,975 1,095,922 633,701 152,895
400 1,356 1,855 4,581 3,092 6
68 Excess profits tax4 ............... : ............ 785 1,138 130 156 314
1,097,060 633,831 153,051 60,173 404,326 806,080 464,405 1 933,152 1 593,250 6
69 Total tax ................................. 287,760
7.2 342
455: 359 412,995
19,9,
3,4, r430,
6"SC
16,445 ~ 536,675 7
Co-iled n;ti rfit less total tax (64 less 69).
701 .vidend. 282,641 1,116,093 960,893 144,177 50,954 386,643
84,608 28,895 216, 043 2 1 327,464 1

71 Cash and assets other than own stock. :::: . :::: 1 140, 132 111,306 1,027,662
2,726 2,885 44 1 18,1881 2
721 Corporationts ovn stock .............. 21 512 26,113 410,740
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of DatW'
Table 4.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDL)STRIAL GROUP-Continued
Manfacturing-Continued Public utilities.

Transpor- Scientific
Item Motor
tation vehicles and instrumelts;
Ordnance
and Other Electric Other
equipment, photographic Total public Transpor- Communi-
equipment, man ufac- and gas public
except equipment; utilities tation cation
except 1 accessories turing utilities utilities
motor watches,
electrica
vehicles clocks
(32) (33) (34) (35) (36) (37) (38) (39) (40) (41)
1 Number of returns with:balance sheets ........... 1,110 1,121 1 77 1 1,970 1 10,237

1 26,067 19,721 3,455 1,069 1,822 1
1
(7~--d &11...)
Assets:
2 Cash .......................................... 638,257 914,501 25,677 234,571 368,709 3,657,637 2,150,852 314,088 1,145,616 47,081 2
3 Notes and accounts receivable ................. 2,057,494 1,565,258 26,483 566,918 742,551 3,535,764 1,904,133 48.4,948 1,112,626 34,057 3
4 Les : Reserve for bad debts ................ 5, 0`72 11,177 437 10,080 18,866 41,011 10,745 6,298 23,051 917 4
5 inventories
8 .................................... 2,126 125 2,483,325 63 009 826,127 990,030 2,467,958 913,197 527,802 1,011,817 15,142 5
6 Prepaid expenses and supplies ................. 27 1685
' 31,213 11822 14,157 21,880 309,788 110,408 124,835 71,044 3,501 6
Investments, Goverment obligations :
7 States, Territories, and United States 3,622 4,104 2,051 4,191 12,289 30,276 23,891 1,340 3,185 1,860 7
possessions.
8 United States obligations ................... 210,473 1,684,753 16,798 216,815 92,174 2,687,840 1,289,668 1,057,560 331,561 9,051 8
9 Not stated .................................. 1,844 896 2,035 1,626 9,772 96,418 91,916 2,836 1,434 232 9
10 Other investments ............................. 142,814 1,037,300 11,638 139,635 174,497 5,752,473 3,786,535 471,514 1,366,514 127,910 10
11 Depreciable assets ............................ 1,928,481 6,967,751 89,379 1,158,392 1,406,504 100,8",347 40,116,311 17,690,273 41,764,187 1,273,576 11
12 Less: Accumulated amortization ............. 31,778 70,869 3,603 31,365 11,186 978,734 838,229 12,950 120,850 6,705 12
13 Less: Accumulated depreciation ............. 919,994 2,803,838 39,417 501,065 610,401 23,088,438 10,264,280 4,687,129 7,906,033 230,996 13
3.4 Depletable assets ............................. 859 5,737 - 5,714 9,752 174,936 72,426 9,467 89,650 3,393 14
15 Less: Accumulated depletion ................ 339 3,159 - 2,996 1,543 81,342 38,463 3,310 38,896 673 15
16 Land .......................................... 55,811 96,641 3,151 28,173 46, 0`79 613,858 302,293 40,542 240,761 30,262 16
17 I n t ang ibl e assets ............................. 3,232 88,261 55 7,974 9,723 123,785 74,151 30,736 15,241 3,657 17
18 Other assets .................................. 76,372 409,371 3,245 31,773 81,878 2,531,574 1,346,225 498,137 656,737 30,475, 18
19 Total assets .............................. 6,315,886 12,400,068 201,886 2,690,560 3,323,842 98,637,129 41,030,289 16,544,391 39,721,543 1,340,906, 19
-
Liabilities:
20 Accounts payable .............................. 1,008,672 1,457,317 21,409 189,002 374,230 3,151,122 2,010,344 349,363 747,757 43 , 658 20
21 Maturity less than I year ................... 263,567 81,791 8,262 112,971 246,431 1,108,437 437,312 105,0()9 488,456 77,660 21
22 Maturity 1 year or more ..................... 645,022 717,625 11,494 225,236 233,771 36,555,557 12,816,742 5,023,249 18,147,529 568,037 22
23 Reserves for estimated expenses l.............. 32,403 23,500 422 21,388 18,417 259,236 54,166 4,030 199,733 1,307 23
24 Prepaid income l............................... 5,475 1,214 - 1,206 4,011 21,047 15,154 2,845 2,141 907 24
25 Accrued expenses .............................. 394,812 1,0`70,913 22,370 234,720 208,763 3,887,004 1,176,558 1,034,660 1,636,852 38 , 934 25
26 Other liabilities ............................. 1,254,987 1,155,102 12,940 205,869 136,125 3,462,151 1,993,713 736,282 662,007 70 , 149 26
2i7 Capital stock preferred ...................... 96,310 412,287 9,526 57,678 126,075 4,843,859 1,074,178 233,435 3,442,257 93,989 27
26 Capita l stock: common 2........................ 6G4,090 1,032,766 28,126 484,028 655,684 23,966,516 8,978,414 6,154,992 8,582,897 250,213 28
~9 Surplus reserves .............................. 155,580 911,589 3,643 74,245 54,686 1,175,945 467,728 27,485 670,872 9,860 29
30 Surplus and undivided profits ................. 1,854,968 5,535,964 83,694 1,084,217 1,265,649 20,206,255 112,005,980 2,873,041 1 5,141,042 186,192 30
31 Total liabilities ......................... 6,315,886 12,400,068 201,886 2,690,560 3,323,842 98,637,129 41,030,289 16,544,391 39,721,543 1,340,906 31
Receipts:
32 Gross sales ................................... 10,013,028 19,969,549 339,742 3,772,311 5,823,738 2,247,720 321,099 1,769,454 149,269 7 , 899 32
33 Gross receipts from operations ................ 924,047 6,046 28,746 26,276 67,771 38,658,220 20,745,828 6,646,550 11 , 028 , 591 237 , 251 33
Interest on Government obligaiions
34 Wholly taxable .............................. 1,943 32,605 332 3,089 1,631 41,299 24,992 10,659 5 , 520 128 .34
35 Subject to surtax only ...................... 5 229 - 14 47 1,113 404 691 16 2 35
36 Wholly tax-exempt ........................... 99 125 77 23 209 924 549 103 206 66 36
37 Other interest ................................ 7,796 19,692 174 2,960 2,865 106,160 60,987 11,118 33 , 345 710 37
38 Rents ......................................... 4,902 9,866 249 3,229 8,246 444,565 381,534 40,874 21,719 438 38
~9 Royalties ..................................... 12,870 5,442 61 3,931 3,061 27,364 16,377 8,450 2,466 71 39
~O Net short-term capital gain reduced by net 147 93 71
1 118 3,568 2,374 1 , 097 93 4 40
~1 Net long-term capital gain reduced by net 5,992 25,972 117 4,603 12,387 111,810 84 , 548 9 , 719 16 ,467 1 , 076 41
short-term capital lose.
~2 Net gain, sales other then capital assets ..... 517 196 - 224 1,781 20,758 17,815 2,331 411 201 42
~3 Dividends, domestic corporations .............. 5,087 47,258 176 4,028 3,856 131,773 85,073 28,767 16,132 1 , 801 43
~4 Dividends, foreign corporations ............... 4,279 75,629 46 7,446 2,986 14,000 2,676 2,293 9 , 029 - 44
6 Other receipts ................................ 25,525 34,799 1,155 13,805 24,791 228,591 1 113,536 7,587 1 105,223 2,245 45
46 Total compiled receipts ................... 11,006,237 20,227,501 370,876 3,842,010 5,953,487 42,037,865 21,857,794 8,539,693 11,388,486 251,892 46
Deductions:
7 Cost of goods sold ............................ 8,227,252 15,169,684 251,975 2,468,206 4,182,208 1,726,368 200,076 1 418,620 103,196 4 , 476 47
18 Cost of operations ............................ 721,665 887 21,492 8,426 47,155 23,521,926 14,696,675 31210
, 672 5,517,254 97 , 327 48
9 Compensation of officers ...................... 51,939 61,761 4,410 64,077 195,735 341 263 252,359 32,809
, 49,475 6 , 620 49
0 Rent paid on business property................ 38,510 20,842 1,346 22,891 51,443 975,938
,, 817,651 102,355 54,759 1 , 173 50
1 Repairs ....................................... 144,843 259,592 3,637 48,262 47,918 94 148 48,289 38,965 5,268 1,626 51
2 Bad debts ..................................... 2,491 4,293 68 3,205 10,793 46 677 9 592 21,418 15,283 384 52
3 Interest paid ................................. 32,574 40;136 1,505 16,191 24,091 1,300:646
, 485:610
, 177 574 615,111 22,351 53
4 Taxes paid .................................... 161,283 603,915 6,002 80,135 97,796 2,486 835 1,106 360 477:554 978,662 24,259 54
5 Contributions or gifts ........................ 6,621 7,866 419 4,072 4,165 21,862 7,493 5,106 9,094 169 55
6 Depreciation and amortization .. ............... 138,405 436,486 6,629 82,363 101,410 3,475,383 1,594,192 595,888 1,260,350 24,953 56
7 Depletion . .................................... 39 577 318 209 3,692 67,117 26,248 41 40,785 43 57
8 Advertising .. ................................. 25,601 120,893 3,019 78,177 93,055 145,856 83,869 37,010 24,623 354 58
9 Amounts contributed under pension plans ....... 67 , 859 196 , 985 3 , 393 41,963 22,058 427,425 73,337 218,169 133,624 2,295 59
Amounts contributed under other employee 29,657 67,6017 684 21 , 828 11 , 548 114, 671 31, 528 50, 034
. 3 2,813 296 60
benefit plans.
1 Net loss, sales other than capital assets ..... 3,045 18,801 55 892 2,840 15,235 9,151 1, 035 4, 952 97 61
2 Other deductions .............................. 538 053 1,069,209 33,175 1 489,341 796,455 2,852,831 1 Jo417,103 839,625 1 571,547 24,556, 62
3 Total compiled deductions ................. 10,189,837
, 18,079,534 338,127 3,430,138 5,692,362 37,614,183 20,859,533 7,226,875 9,316,796 210,9791 63
Compiled net profit or net loss (46 less 63).... _79-
16,400 2,147,967 32 749 411,872 261 125 4,423~682 998,261 1,312,818
5 Net income or deficit (64 less 36) .............. 2,071,F9() 40, 9131 64
816,301 2,147,842 32:672 411,849 260,916 4,422,758 997,712 1,312,715 2,071,484
6 Net operating loss deduction.................... , 40, 947 65
22,102 2,357 3,579 2,110 7,268 31,003 20,031 1,637 8,682 66
7 Income tax ...................................... 415,673 1,171,780 17,351 216,035 148,608 2,295,206 551,936 674,811 1,048,957 19,502 67
8 Excess profits tax 4 ............................. 8,941 594 93 580 450 519 139 310 55 15 68
9 Total tax .................... ............ 424,614 1,172,374 17,444 216,615 149,058 2,295,725 552.075 675.121 1.049.012 19.517.1 o
0 Compiled net profit less total tax (64 less 69). 391,786 975,593 15,305 195,257 112,067 2,127,957 446 , 186 637 , 697 1 , 022 , 678 21 , 396' 1 70
Dividends paid:
1 Cash and assets other then own stock ........ 659 304 7,419 2,056,6 509,071. 759 15,556 71
2 ', Corporation ' s own stock .................... 3:585 187 41,1 6,992 1,014'
20 1~;168 72
e, footnotes at end of table. See text for explanatory statements and for "Description of the Semple and Limitations of Data.--
48 ACTIVE CORPORATION INCOME TAX RLTURNS-1954
Mg" 4.-RALANCE SMM AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Candamed
Trade
lbolesale Retail
Item
Automotive
Total trade Apparel Furniture
and house- dealers
Total Commission Other Total General and
Food and filling
1holesele merchants wbolesalers retail furnishings
merchandise accessories stations
I
(42) (43) (45) (48) (49) (50) (51) -
1 OuMber of returns with balance sheets........... 222 801 73,m 10,091, 63,793 128,958 9,582 7,055 17,545, 12,4271 23,937 1
(IF-
--.d d. 11...
Asset
6,316,954 2,633,483 289,153 2,344,330 3,341,135 618,536 1,015,239 317,423 150,998 594,139 2
2 Ca h ..........................................
3 Nol and accounts receivable ................. 17,105,339 9,017,672 804,401 8,213,271 7,021,825 395,250 2,275,158 604,637 952,333 1,032,127 3
4 Less: Reserve for bad debts ................ 511,338 190,896 12,0`72 178,824 289,464 7,555 148,698 16,238 37,570 26,424 4
5 Invelries ................................... 18,138,316 8,342,120 177,40`7 8,164,713 8,793,866 1,061,703 2,546,402 985,327 551,918 1,522,954 5
Prepaid expenses and supplies ................. 319,782 101,893 5,372 96,521 201,415 41,328 64,535 14,955 8,798 31,642 6
6
States, Territories) and United States 63,051 34,744 840 33,904 26,262 3,314 11,475 3,488 797 3,026 7
7
possessions
8 United State; obligti. .......... .......... 1,237,658 502,356 64,216 438,140 693,290 50,290 514,164 42,017 12,553 27,030 8
9 Not stated .................................. 80,028 40,190 2,964 37,226 35,381 2,295 5,489 4,929 4, 0`74 8,963 9
10 Other investments ............................. 4,270,084 2,"l, 566 228,129 2,213,437 1,635,194 204,728 600,068 174,862 98,392 235,181 10
11 Depreciable assets ............................ 15,609,909 4,895,101 216,499 4,678,602 9,670,184 1,803,928 3,018,787 751,474 296,600 1,324,668 11
12 Less: Accumulated amortization............. 103,946 38,246 1,033 37,213 59,313 11,329 12,174 5,935 1,816 8,880 12
13 Lees: Accumulated depreciation ............. 6,464,440 1,971,696 83,269 1,888,427 4,035,918 720,473 1,246,703 349,931 3-31,023 492,955 13
14 Depletable assets ............................. 202,994 158,230 20,957 137,273 34,150 5,463 1,472 2,464 1,454 6,617 14
15 Less: Accumulated depletion................ 84,654 66,793 3,893 62,900 12,768 1,739 319 1,261 752 2,423 15
16 Lend .......................................... 1,372,393 358,627 14,163 344,464 910,957 113,198 319,831 36,106 33,931 222,689 16
162,9" 52,529 7,770 ",759 100,086 14,749 21,248 7,962 2,469 5,461 17
17 Intangible assets .............................
is Other assets .................................. 1,416,770 623,022 59,749 563,273 723,373 111,283 150,326 63,002 50,"3 160,6211 18
19 Total assets .............................. 59,131,799 26,933,902 1,791,353 25,142,549 28,789,635 3,684,969 9,136,300 2,635,281 1,993,599 4,634,436 19
Liabilities:
20 Accounts payable .............................. 10,274,694 5,770,413 479,135 5,291,278 3,824,194 708,558 940,799 468,843 263,308 417,401 20
21 Maturity less than 1 year ................... 5,126,936 2,913,480 206,605 2,706,975 1,932,687 10`7,0`75 241,664 132,855 213,668 650j7ol 21
22 Maturity 1 ye r or marv, ..................... 4,972,978 2,284,265 125,759 2,158,506 2,431,124 365,885 708,884 197,430 164,498 377,442 22
23 Reserves for estimated expenseal.............. 152,028 59,132 8,085 51,047 87,559 6,532 37,027 7,476 5,427 16,291 23
24 Prepaid income'............................... 58,128 22,720 5,706 17,014 32,166 1,678 11,309 1,905 4,606 6,368 24
25 Accrued expenses .............................. 2,444,972 893,601 55,830 837,771 1,413,458 219,620 601,958 121,281 58,488 166,258 25
26 Other liabilities ............................. 2,332,451 978,499 60,994 917,515 1,199,837 1",362 269,585 93,797 213,495 158,629 26
27 Capital stock, preferred ...................... 1,730,893 659,949 37,870 622,079 970,061 219,251 395,755 106,635 45,362 58 512 27
431,582 969:397 28
28 Capital stock~ oommona........................ 11,125,049 4,610,613 298o490 4,312,123 5,780,115 557,099 1,621,195 544,271
29 Surplus reserves .............................. 866,687 344,"7 17,920 326,527 484,779 58,707 257,852 18,751 47,609 34,001 29
30 Surplus and undivided profits ................. 20,046,993 8,3%p783 494,969 , 7,901,814 10,633,655 1,296,202 , 4,050,272 942,037 545,556 . 1,780,436 30
31 Total liabilities ......................... 59,131,799 26,933,902 1,791,353 25,142,549 28,789,635 3,684,969 9,136,300 2,635,281 1,993,599 1 4,634,436 31
Receipts:
32 Gross sales ................................... 165,463,470 79,288,106 3,311,172 75,976,934 77,892,195 19,619,665 16,723,801 5,431,479 3,057,155 18,704,765 32
33 Gross receipts from operations ................ 2,883,911 2,011,248 816,738 1,194,510 667,003 55,574 80,307 43,434 47,541 232,JS4 33
34 Wholly taxable .............................. 22,872 10,206 1,324 8,882 11,7" 855 7,634 867 437 728 34
35 Subject to surtox only...................... 219 114 - 114 77 28 16 7 5 - 35
36 Wholly tax-exempt ........................... 1,967 614 28 586 1,304 676 168 83 144 87 X
37 Other interest ................................ 162,236 64,826 8,062 56,764 90,513 5,002 29,957 2,639 7,435 27,283 31
38 Rent.......................................... 281,353 80,749 5,703 75,046 179,174 13,321 68,455 27,510 6,177 23,019 3E
39 Royalties ..................................... 33,302 28,733 2,164 26,569 2,818 558 240 293 56 323 39
40 Net short-term capital gain reduced by net 5,301 2,616 296 2,320 2,348 84 63 129 114 1,519 4C
41 1,945 16,859 42
Met long-term capital gain reduced by net 140,077 61,233 3,358 57,875 70,686 11,907 19,941 2,759
42 Met gain, sales other than capital assets ..... 14,638 5,M 201 5,698 7,752 609 463 798 290 2,628 4;
43 Dividends, domestic corporations .............. 110,394 75,084 7,532 67,552 30,062 2,334 12,900 5,135 984 2,584 41
44 Dividends, foreign corporations ............... 78,993 69,348 78 69,270 9,599 7 8,905 643 1 27 "
45 Other receipts ................................ 1,390,153 519,618 65,850 , 453,768 802,331 46,435 , 186,019 90,649 , 155,904 147,719 4!
46 Total compiled receipts ................... 170,588,886 82,218,394 4,222,506 77,995,888 79,767,606 19,757,055 17,138,869 5,606,415 3,278,188 19,159,725 4(
Deductions:
47 Coat of goods sold ............................ 133,843,914 68,769,600 3,062,423 65,707,177 58,515,664 15,893,792 10,986,096 3,524,060 1,993,616 16,093,509 41
48 Cost of operations ......... r .................. 1,437,664 1,065,132 294,217 770,915 300,216 31,737 19,342 16,623 9,552 116,539 4E
49 Compensation of officers ...................... 2,815,647 1,227,420 134,834 1,092,586 1,397,147 119,353 117,726 163,010 139,161 328,571 4~
50 Rent paid on business property ................ 1,788,688 355,812 26,"2 329,370 1,351,031 178,620 350,393 289,033 83,825 146,213 X
51 Repairs ....................................... 391,464 121,078 4,083 116,995 242,224 62,599 60,012 15,521 9,084 29,495 51
52 Bad debts ..................................... 320,557 122,206 7,228 114,978 176,522 8,264 40,101 15,882 25,393 33,575 T.
53 Interest paid ................................. "9,091 214,677 lOoS20 203,857 210,855 20,742 49,416 13,855 17,667 57,689 5--
54 Taxes paid .................................... 1,477,492 576,090 19,069 557,021 810,132 143,672 242,449 65,452 40,169 118,976 N
55 Contributions or gifts ........................ 53,072 20,192 1,174 19,018 30,418 5,868 10,603 3,205 1,551 3,181 5!
56 Depreciation and amortization ................. 1,224,645 411,956 20,039 391,917 727,572 152,562 163,216 61,990 27,107 112,766 5(
57 Depletion ..................................... 17,415 13,958 584 13,374 2,499 220 169 56 181 499 5,
58 Advertising ................................... 1,716,890 425,258 22,242 403,016 1,200,505 132,647 "7,324 141,867 104,497 211,556 N
59 Amounts contributed under pension plane ....... 232,041 84,736 7,802 76,934 138,050 36,906 76,847 5,157 1,360 4,969 5~
60 Amounts contributed under other employee 69,994 25,603 1,397 24,206 41,840 18,678 5,061 2,864 1,249 5,521 6(
benefit plans.
61 Met lose, sales other than capital assets ..... 22,999 6,836 955 5,881 12,594 1,698 1,794 1,487 750 3,721 6:
62 Other deductions .............................. 21,097,941 7,262,632 1 516,10 6,746,463 12,678,533 1 2,547,507 3,625,028 1,175,096 1 772,229 1,781,224 162
63 Total compiled deductions ................. 166,959,514 80,703,186 4,129,479 77,835,802 19,354,865 16,195,577 5,495pl58 3,227,391 19,048,004, 6
64 Compiled net profit or net loss (46 less 63) .... 3,629,372 1,515,208 93,028 , 1,422,180 1,931,804 402,190 943,292 111,257 50,797 111,72T &
65 Met income or deficit (64 less 36) .............. 3,627,405 1,514p594 93,000 1,421,594 1,930,500 401,514 943,124 111,174 50,653 111,634 6
66 Met operating loss deduction.................... 79,210 36,333 4,143 32,190 35,709 5,191 3,420 5, "7 3,865 3 415 61
67 Income tax ....... 1,865,155 747,060 43,267 703 1793 1,026,841 202,991 482,466 60,612 31,960 93,377 6
68 Excess profits 2,272 1,124 79 1:045 1,000 348 130 40 30 60 6
69 Total tax ................................. 1,867,427 748,184 43,346 704,838 1,027,841 203t339 482,596 1
60 652 31 990 93 437 61
70 Compiled net profit less total tax (64 less 69). 1,76 7117,024 49,682 717,342 903,963 198pS51 46016% 50 605 is 7
Dividend. paid:
71 Cash and assets other then own stock........ 352,W 18,"3 333,925 519,164 81,358 293,841 28,935
' 12,515 31,998 7
72 Corporation's can stock ..................... ;3 : 496
924
72
45 56,064 2,721 53,343 60,724 21,282 7,706 4,727 3,217 11,766 7
See footnotes at end of table. See text for explanatory statements and for I'Description of the Sample and Limitations of Data."
Table 4.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continced
Finance, Insurance, real estate, and lesdors

Trade-Continued of real property
tem
Retail-Continued Total finance, Finance
Building insurence,6 Credit
Eating and Other Trade not Banks and
Drug materials real estate agencies
drinking retail allocable Total finance c.trust
stores and and lessors of other than
places trade mpanies
hardware real property banks
(52) (53) (54) (55) (56) (57) (58) (59) (60)
1 Number of returns with balance sheets ........... 5,267 15,355 15,209 22,581 , 19,959 , 187,172 , ",611 , 14,374 , 22,481 1
(7~-d d.11 ...
Ass ts:
2 C:sh .......................................... 76,300 132,771 203,502 242,227 342,336 52 412. 736 47 956 741 44 333,812 2,958,969
3 Notes and accounts receivable ................. 57,372 69,422 800,283 835,243 1,065,842 104:757:849 101:494:504 85 , 736,290 14,866,351
4 Less : Reserve for bad debts ................ 567 361 24pO2O 28,051 30,958 1,061,257 - 1,038,596 903p433 229p866
5 Inventories ................................... 256,118 80,474. 976,308 812,662 1,002,330 47,865 -
2,482 1,057
6 Prepaid expenses and supplies ................. 3p752 12,794 8,691 14,920 16,474 133,680 35,216 17,477 13,86Z
7 States, Territories, and United States 537 550 1,147 1,928 2,045 17,241,150 11,867,626 11,520,722 67,011 1
possessions .
8 United States obligations ................... 5p496 7,515 17,597 16,628 42,012 92p232,452 76,826,133 73,908,592 1,889,240 1
9 Not stated .................................. 851 988 3,931 3,861 4,457 4,450,896 4,330,317 3,990,913 185,241 i
10 Other investments ............................. 30,294 49,023 109,871 132,775 193,324 130,034,586 48,538,760 10,573,572 27,358,412 V
11 Depreciable assets ............................ 231,389 770,818 621,230 851,290 1,044p624 23,531,954 2,914p541 1,999p3lO 611o929 1:
12 L ess: Accumulated amortization............. 1,394 7,384 3,316 7,085 6,387 113p356 16,396 2,763 1,145 1;
13 Less: Accumulated depreciation............. 104,073 324,927 381,990
283,843 456,826 5,421,301 512,350 283,053 119,779 1:
14 Dep le tabl e asse ts ............................. 1,117 5,685 4,857 5,021 10,614 834,767 278,258
15 1,783 20,509 1
Less: Accumulated depletion ................ 504 2,139 1,227 2,404 5,093 262,064 84,956 468 2,094 1.
t6 land .......................................... 7,881 45,656 72,875 58,790 102,809 5,117,971 329,200 169,609 90,238 lf
17 Intangible asse ts ............................. 3,628 19,726 3,996 20,847 10,294 441,337 329pO43 301,890 4,672 2!~
18 Other asset s .................................. 15,497 49,902 43,085 79p214 70,375 8,097,586 . 1,924,723 1,356,127 264,200 11
19 Total assets .............................. 583,694 910p513 2,554,967 2,655,876 3,408,262 432,476)851 295,175,246 232pS20,380 47,978,805 1~
Liabilities:
20 Accounts payable .............................. 105,337 142,951 326,209 450,788 680,077 4,804,462 2,695,090 26,664 1,859,467 2C
21 Maturity less than 1 year ................... 21,688 82,007 253,012 230,017 280,769 8,697,118 5,900,703 94,764 5,103,651 21
22 Maturity I year or more ..................... 54,330 159,045 153,493 250,117 257,589 22p724,157 7,961,130 55,082 6,696,324 21
23 Reserves for estimated expenses l .............. 503 3,031 5,641 5,631 5,337 144,964 47,309 24,076 17,794 2:
24 Prepa id i ncome ' ............................... 80 488 897 4,835 3)242 147,622 71,110 31,754 38)599 V
25 Accrued expenses .............................. 29,407 53,597 70,023 92,826 137,91:3 1,233,765 613,305 238,190 266,636 2!
26 Other liabilities ............................. 17,483 53,266 69,074 180,146 154,115 337,407,058 243,592,698 213i560,016 28,192,337 2f
27 CCapital
apit a l sstock
tock preferred ...................... 12,928 23,124 42,585 65,909
2 ........................ 100,883 1,631,012 1,113,672 30,390 323,798 Z
28 I, common 130,754 225,661 695,548 (,05,608 734,321 15,852,651 9,420,947 4,304,327 1,757,676 21
29 Surplus reserves .............................. 5,189 7,183 17,809 37,678 37,461 4,910,958 4,144,211 2,116,447 1,581,745 2~
30 Surpl us and undiv ided profits .................
- 205,995 160,160 920,676 , 732,321 1,016,555 34,923,084 1 19,615,071 12,338,670 2,140,7781 . 3C
31 Total liabilities ......................... 583,694 910,513 2,554,967 2,655,876 3,408,262 432,476,851 295,175,246 232)820,380 47,978,805 31
-
Receipts:
32 Gross sales ................................... 1,632,380 2,449,920 4,795,151 5,477,879 8,283,169 164pl35 10,888 - 3 , 225 3;
33 Gross receipts from operations................ 10,516 55,138 39,998 102,311 205,660 12,095,633 2 , 578 , 583 893 , 597 1 , 274 , 176 31
Wholly taxable .............................. 151 225 440 407 922 1,810,158 1,430,305 1,358,887 47,601 34
35 Subject to surtax only...................... - 3 12 6 28 93,050 88,371 86 , 595 334 X
36 Wholly tax-exempt ........................... 8 19 30 89 49 373,994 256,464 239,895 1,534 36
J7 Other interest ................................ 467 850 7,929 8,951 6,897 8,405p257 5,889,869 3p865,369 1,931,351 37
39 Rents ......................................... 5,946 10,355 9,209 15,182 21,430 3,131,685 178,217 142,125 20,620 38
39 Roya lties ..................................... 57 650 384 267 1,751 185,598 55,657 2,415 42 39
40 Net short-term capital gain reduced by net 30 50 131 228 337 48,1$3 40,297 27,611 3,162 4C
41 Net long-term capital gain reduced by net 1,173 3,399 7,151 5 , 552 8 , 158 938p 2DO 732, 017 418, 227 27, 508 41
42 Net gain, sales other than capital assets ..... 8 596 1,516 8" 987 621,034 146,370 llp261 5,539 42
43 Dividends, domestic corporations .............. 1,603 1,143 1,912 1,467 5,248 1,121,727 736,179 43,540 24,620 43
44 Dividends, foreign corporations ............... - 2 11 3 46 49,793 45,416 204 9,090 44
45 Other receipts ................................ 12,751 16,533 56,873, 89,"8 68,204 367,110 206,6211 86,361 59,901 45
46 Total compiled receipts ................... 1,665,090 2,538,883 4,920,747 5,702o634 8,602,886 29,405,607 12,395,254 7,176,087 3,408,703 46
Deductions: - -
47 Cost of goods sold ............................ 1,115,583 1,270,857 3p7O8,253 3,929,898 6,558,650 109 821 7 245 1 594 47
48 Cost of operations ............................ 2,846 27,680 26,464 49,433 72,316 3,639:487 250:230 -
1,217 25:844 48
49 Compensation of officers ...................... 49,310 99,669 172p582 207,765 191,080 1,373 138 832 459 580,348 167,077 49
50 Rent pa id on business property ................ 53,909 115,037 34,483 99,518 81,845 373:818
, 136:195
, 76,899 46,200 50
51 Repairs ....................................... 5,924 27,752 13,245 18,592 28,162 214 , 540 43 234 34,128 7,323 51
52 Bad debts ..................................... 684 1,081 20,620 30,922 21,829 681 090 660,674 271,562 385,591 52
53 Interest paid ... . .... . . ....................... 2,726 8,138 19,722 20,900 23,559 3,107,175 2,459,709 1,238,108 1,167,149 53
54 Taxes paid .... . ... . . .......................... 20pS59 55,771 54,078 68,706 91,270 1,210,330 314,902 227,756 65,486 54
55 Contributions or gifts ........................ 850 919 2,009 2,232 2,462 38,456 24,596 18,536 3,049 55
56 Depreciation and amortization ................. 19,581 63,442 51,195 75,713 85,117 954,561 179,352 132,256 37,051 56
57 Depletion................. . . .. . ............... 25 80 lplS4 85 958 75,701 31,951 447 260 57
58 Advertising..... .. . ........................... 20,412 21,352 37,475 83,375 91,127 231,106 158,606 87,810 64,894 58
59 Amounts contributed under pension plans ....... 2,555 3,177 2,548 4, 531 9 , 255 182 , 606 149 , 629 124 , 138 18 ,642 59
60 Amounts contributed under other employee 834 3,211 2,081 2 , 341 2 , 551 51 , 374 25 , 256 20 , 558 3 ,794 60
benefit plans.
61 Met loss, sales other then capital assets ..... 424 882 624 1,214 3,569 56,462 34,265 30,030 2 , 944 61
62 Other deductions .............................. 327,265 806,973 651,399 991p812 1,156,776 8~797,8101 3,225,989 2,034,717 882,8101 62
63 Total compiled deductions ................. 1,623,787 2,506,021 4,797,962 5,587,037 8,420,526 21,097,475 8,534,292 4,878,510 2,M,708 63
64 Compiled net profit or net loss (46 less 63).... -2FI, 3-03 3-2 862 122,785 115,597 182,360 8,308,132 3,860,962 2,297,577 528,995' ~4
65 Met income or d e fi c it ( 64 l ess 36) .............. 41,295 32,843 122,755 115,508 112 7,934,138
Net operat i ng loss deduction .................... 3,604,498 2,057,682 527,461 65
66 841 5,736 2,447 5,347 7,' 168
311 74,387 25,011 11,589 7,416 66
67 Income tax ...................................... 19,486 25,246 56,183 54,520 91,254 2,067,788 1,221,485 867,970 248,076
68 Excess profits tax4............................. 36 205 67
57 94 148 631 266 73 188 68
69 Total tax ................................. 19,522 25,451 56,240 54,614 91,402 2,068,419 1,221,7511 868,0431 248,264 69
0 Compiled net profit less total tax (64 less 69). _ 21~781 7,411 66p545 60,983 90,958 6,239,713 2 , 63 2 1 ,429 , 534 280, 731 70
Dividends paid:
1 Cash and assets other than own stock .......... 10,664 11,411 24,739 22,713 38,192- 2,026 37 1 1,1119 :6 5B
11 518,318 200 ,498 71
2 1 Corporation ' s own stock ....................... 1,427 565 7,033 3,001 6,708 18C "93 98, JA 22,774 .72
ee footnotes at end of table. See text for explanetory statements and for "Des-liPtion of the Sample and
Limitations of Data."
T-bl. 4-RALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Cond-ed
Finance, insurance, real estate, and lessors of real property-Continued
Finance-Continued Insurance carriersP and agents

Item
Real estate,
Le ... r. of
Holding and Security and except lessors
Total insurance Insurance of real real property,
ther commodity- insurance except
carriers6 and agents and property other
investment
0 exchange brokers carrierS6 buildings
agents brokers than buildings
companies and dealers
(61) (62) (63) (64) (65) (66)
1 Number of returns with balance sheets ................... 6,212 1,544 11,391 2,335 9,056 126,863 4,307 1
(Th....~d ~11 ...
C
Assets:
2 515,874 148,086 2,922,656 2,668,756 253,900 1 437,394 95,945
3 te
Lass: nd ts receivable ......................... 549,485 342,378 782,071 257,951 524,120 21381,449
1 99,625
4 R:cco"we for bad debts ........................ 4,867 428 6,198 2,582 3,616 16 , 102 361
5 inventories ............ .............................. 1,425 - 16,944 16,530 414 26,372 2,067
6 Prepaid expenses and supplies ......................... 2,546 1,331 4,156 1,201 2,955 91 , 599 2,709 E
7 States, Territories, and United States 228,867 51,026 5,305,120 5,301,180 3,940 62,129 6,275 7
possessions .
8 United States obligations ........................... 480,502 547,799 15,153,144 15,131,087 22,057 202,528 50,647 E
19 Not stated .......................................... 15,181 138,982 77,277 75,156 2,121 39,902 3,400
0 Other investments ..................................... 10,088,616 518,160 75,864,324 75,686,780 177,544 5,377,815 253,687 IC
11 Depreciable assets .................................... 256,100 47,202 1,020,309 911,094 109o215 17,301,349 2,295,755 11
12 Less: cumulated amortization ..................... 12 , 389 99 511 108 403 79,957 16,492 1~
13 Less: Accumulated
Ac depreciation ..................... 86,486 23,032 63,926 27,541 36,385 4,568,221 276 , 804 1-
14 Depletable assets ..................................... 250,303 5,663 860 262 598 77,522 478 , 127 1~
15 Less: Accumulated depletion ........................ 81,231 1,163 577 259 318 21,788 154,743 1-f
16 La.d .................................................. 47,275 22,078 21,498 10,463 11,035 4,541,789 225,484 1(
17 Intangible assets ................ . .. .... . ............ 119 908 2;573 50,772 21,292 29 480 51 429 10,093 1,,
18 Other assets ......................................... 25;674 178 722 5,343,464 5,290,125 531,339 764:109 65,290 1E
19 Total assets ...................................... 12,396,783 1 1,979,278 106,491,383 105,341,387 1,149,996 27,669,318 3,140,904 1~
Liabilities:
20 Accounts payable ...................................... 320,688 488,271 605,825 79,425 526,400 1,389,664 113 , 883 2C
21 Maturity less than 1 year ........................... 284,288 418,000 68,322 35,292 33,030 2,666,475 61,618 22
22 Maturity I year or more ............................. 939,987 269,737 64,158 32,913 31,245 13,533,323 1,165,546 22
23 Reserves for estimated expenses ' ...................... 3,778 1,661 17,158 13,094 4,064 78,458 2,039 21
24 Prepa id income . ....................................... 482 275 11,649 10,774 875 50,563 14,300 24
25 Accrued expenses ...................................... 83,822 24,657 67,787 60,456 27,331 461,908 70,765 2,5
26 Other lia biliti es ..................................... 1,459,754 380,591 92,523,213 92,401,308 121,905 1,236,057 55,090 2E
27 Capital stock preferred .............................. 728,378 31,106 37,110 15,394 21,716 390,796 89,434 2?
28 Capita l stock : counon 2 ................................ 3,244,948 114,096 1,486,500 1,353,044 133,456 3,862,484 1,082,720 28
29 Surplus reserves ...................................... 433,419 12,600 520,670 495,465 25,205 228,857 17,220 29
30 Surplus and undivided profits ......................... 4,897,339 238,284 11,068,991 10,844,222 1 224,769 3,770,733
- 468,289 3C
31 Total liabilities ................................. 12,396,783 1,979,278 106,491,383 105,341,387 1 1,149,996 27,669,318 3,140,904 31
Receipts:
32 Gross sales ........................................... 7,663 - 67,980 65,132 2,848 74,086 11 181 32
33 Gross receipts from operations ........................ 54,444 356,366 7,490,932 6,724,506 766,426 2,018,358 71760
' 33
less awrti~able bond premium):
34 Wholly taxable...................................... 12,384 11,433 372,278 371,611 667 6,194 1,381 34
35 Subject to surtax only .............................. 82 lo360 4,599 4,590 9 77 3 35
36 Wholly tax-exempt, .................................. 3,817 11,218 116,097 116,047 50 1,269 164 36
37 Other interest........................................ 87,795 5o354 2,440,449 2,436,291 4,158 72,538 2,401 37
38 Rent.................................................. 14,372 1,100 241,353 236,752 4,601 2,600,924 111,191 38
39 Royalties ............................................. 53,036 164 215 47 168 4,908 124,818 39
40 N et short-term capi tal gain reduced by net 8,042 1,482 1,751 1,661 90 5 , 955 180 40
41 Met long-term capital gain reduced by net 280,499 5,783 66,643 61 , 174 5 , 469 121 , 925 17, 665 41
42 Net gain, sales other than capital assets ............. 6,191 123,379 2oO13 1,627 386 471,658 993 42
43 Dividends, domestic corporations ...................... 655,977 12,042 348,284 341,304 6,980 33,960 3,304 43
44 Dividends, foreign corporations ....................... 35,735 387 3,522 2,119 1,403 664 191 44
45 Other receipts ........................................ 45o733 1 14,626 40,484 26,041 14,443 111,695 1 8,310 45
46 Total compiled receipts .... ...................... 1,265,770 544,694 11,196,600 10,388,902 '807,698 5,524,211 289,542 46
Deductions:
47 Cost of goods sold.................................... 5,651 - 53,726 51,579 2,147 4OpO75 8, 775 47
49 Cost of operations .................................... 8,957 214,212 2,835,102 2,698,637 136,465 552,309 1 , 846 48
49 Compensation of officers .............................. 24,204 60,830 197,967 58,038 139,929 334,655 8, 057 49
50 Rent paid on business property........................ 3,898 9,198 77,798 53,203 24,595 155 , 353 4, 472 50
51 Repairs ............................................... 816 967 4,596 3,217 1,379 163,622 3,088 51
52 Bad debts ............................................. 2,803 718 7,205 2o840 4,365 13,142 69 52
53 Interest paid .... . .... . .... . .... . . .................... 38,216 16,236 13,896 11,349 2,547 600,561 33,009 53
54 Taxes paid ...................... .. . . . .................
13,019 8,641 233,065 220,964 12,101 630,579 31,784 54
55 Contributions or gifts ................................ 2,243 768 3,732 2,445 1,287 9,818
56 Depreciation and amortization......................... 310 55
5,780 4,265 92,806 81,530 11,276 663,375 19,028
57 Depletion ............................................. 56
30,427 817 227 220 7 1,841 41,682
58 Advertising ................................. I ......... 57
883 5,019 23,289 13,374 9,915 49,114 97 58
59 Amounts contributed under pension plans ............... 2,084 4,765 26,382 20,620 5 , 762 6 , 087 508 59
60 Amounts contributed under other employee 250 654 22,639 20,713 1,926 3,318 161 60
benefit plans.
61 Net loss, sales other than capital assets ............. 1 118 73 1 762 1,248 514 20,338 97 61
62 Other deductions ...................................... 164:519 143p 943
l 4,036 ' 610 3,655,399
. 381,211 1,504,010 31,201 62
63 Total compiled deductions ......................... 304,868 471,206 7,630,802 6,895,376 735,426 4,748,197 184,184 63
64 Compiled net profit or net loss (46 less 63) ............ 960,902 73,488 3,565,798 3,493,526 72,272 776,014 105 , 358 64
65 Net income or deficit (64 less 36) ...................... 957,085 62,270 3,"9,701 3,377,479 72,222 774,745 105 , 194 65
66 Net operating loss deduction ............................ 3,048 2,958 9,732 9,079 1,653 ____L1L450 1,194 66
67 Income tax .............................................. 82,770 22,669 487,082 458,518 28,564
68 Excess profits taX4 ... .. . . .. . .. ......................... -
310,402 48,819 67
5 46 15 31 290 29 r,8
69 Total tax ......................................... 82,770 22,674 487,128 458,533 28,595 310,692 48,848 69
0 Compiled net profit less total tax (64 less 69) ......... 878,132 50,814 3,078,670 31034,993
Dividends paid: 43 , 677 465 , 322 56 , 510 70
71 Cash and assets other than own stock .................. 786,252 10,590 298,679 278,982 19,697 151 ,666 1,.
11 , 1 7
72 Corporation ' s own stock ............................... 25,794 2,237 5,055 3 826 12,201 1 721
TabLa 4.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued

Services
Miscel- Nature of
Item Hotels and Automotive Amusement, Other
other laneous Motion except services, business
Total a Personal Business repair
repair motion including not
service lodging services services services pictures
ser ices, a llocable
places I g... gas pictures schools
hand v trades
(68) (69) (70) (71) (72) (73) (74) (75) (76) (77)
1 Number of returns with balance sheets ............ 58,117 6,693 , 11,567 14,363 5,505 3,260 5,3 39 5,594 5,796 7,685 1
(Th...-d d.11 ...)

Assets:
2 Ca ........................................... 1,227,976 173,952 125,050 370,599 47,297 28,462 257,987 122o842 101,787 37,333 2
3 Notes
sh . and accounts receivable .................. 1,454,674 131,041 161,117 580,614 75,461 62,689 244,809 50,621 148,322 127,776 3
4 Les : Reserve for bad debts ................. 34o337 2,171 3,168 16,068 lo603 1,575 3,318 589 5o845 4,807 4
5 Inventories .................................... 574,311 37,155 71,337 67,538 23,309 43,412 295,993 10,643 24,924 8,709 5
6 Prepaid expenses and supplies .................. 76,964 17,013 12,232 l2o680 6,327 1,164 17,284 5,728 4,536 736 6
7 States, Territories, and United States 21,613 3,999 1,554 7,305 357 68 219 2,078 6,033 4,G48 .7
possessions.
8 United States obligations .................... 183,039 23,844 18,336 44,597 1,995 1,999 45,928 26,053 20,287 4,592 8
9 Not stated ................................... 19,112 3,342 2,415 6,520 547 402 1,600 1,289 2,997 10,809 9
10 Other investments .............................. 1,363,883 242,326 70,085 364,363 53,637 6,409 529,241 55,744 42,078 61,901 10
11 Depreciable assets ............................. 6,981,419 2,222,119 866,325 1,099,428 557,685 97,845 1,297,631 560,425 279,961 77,642 11
12 Less: Accumulated amortization .............. 90,826 8,673 6,306 5,670 7,055 1,122 56,899 2,891 2,208 221 12
13 Less: Accumulated depreciation .............. 2,977,361 678,739 419,417 469,140 202,378 41,606 644,466 221,070 100,545 18,614 13
14 Depletable assets .............................. 29,702 3,995 5,308 3,645 1,687 717 2,322 8,818 3,210 4,471 14
15 Less: Accumulated depletion ................. 11,220 943 2,418 1,477 620 318 1,055 2,184 2,205 1,274 1.5
16 Land ........................................... 742,778 299,386 45,172 32,299 53,455 4,420 213,236 73,713 21,097 14,577 16
17 Intangible assets .............................. 81,701 3,702 15,621 25,209 2,135 1,444 17,419 9,648 6,523 8,517 17
18 Other assets ................................... 373,834 71,655 56,165 1 93,660 20,955 6,316 68,019 30,329 26,735 44,169 18
19 Total assets ............................... 10,017,262 2,343,003 1,019,406 2,216,102 633,191 210,726 2,285,950 731,197 577,687 380,364 19
Liabilities:
20 Accounts payable ............................... 1,074,978 129,392 116,530 400,386 63,603 41,892 195,512 54,947 72,716 61,675 20
21 Maturity less than 1 year .................... 737,740 165,270 70,542 140,495 125,938 13,246 128,707 59,262 34,280 41,935 21
22 Maturity 1 year or mo e ...................... 2,240,858 945,305 125,657 298,345 186,566 17,452 475,612 126,107 65,814 78,557 22
23 Reserves for estimated expenses 1 ............... 21,272 1,994 2,568 5,535 5,791 653 1,946 751 2,034 559 23
24 Prepaid income' ................................ 30,608 1,984 675 5,268 2,710 601 5,649 2,321 11,400 2,831 24
25 Accrued expe sea,,,, ... 453,489 93,461 50,066 112,959 17,743 13,820 91,484 34,229 39,727 7,633 25
26 Other liabi lities .............................. 549,978 85,571 52,62? 178,666 19,335 14,023 102,611 43,227 53,918 28,424 26
27 Capital stock preferred : * : ,** ..... :: 1, 232,702 60,293 29,523 48,058 14,341 3,574 49,383 17,861 9,669 22,452 Z7
28 Capital stock,' comnon2.. .......... . ........ 669,282 350,443 242,017 338,709 91,869 45,623 302,204 193,435 104,982 119,710 28
29 Surplus reserves ............................... 196,858 32,178 10,165 39,049 3,240 625 81,098 11,474 19,029 3,293 29
30 Surplus and undivided profits .................. 2,809,497 477,112 319~036 1 648,632 102,055 59,217 851,744 187,583 1 164,118 13,295 1 30
ai Total liabilities .......................... 10,017,262 2,343,003 1,019,406 2,216,102 633,191 210,726 2,285,950 731,197 577,687 380,364 31
Receipts:
32 Gross sales .................................... 1,629,356 588,960 275,711 242,913 133,523 139,667 99,226 69,590 79,566 39,481 32
33 Gross receipts from operations ................. 10,064,179 975,893 1,527,592 3,241,830 449,843 315,707 1,915,791 743,794 893,729 64,346 33
Interest on Goverment obligatign
34 Wholly taxable ............................... 5,125 1,315 378 1,022 82 20 929 579 800 120 34
35 Subject to surtax only ....................... 16 1 2 9 1 - 1 1 1 2 35
36 Wholly tax-exempt ............................ 1,436 52 52 1,070 63 - 16 29 154 127 36
37 Other interest ................................. 15,205 3,555 1,260 2,669 1,004 147 4,223 905 1,442 842 37
38 Rents .......................................... 301,694 160,107 4,224 30,419 41,012 2,156 48,793 9,257 5,726 1,601 38
39 Royalties ......................... 27,221 297 665 12,194 411 32 8,233 4,195 1,194 185 39
40 Net short-term capital gain reduced* ............
by net 1,722 122 10 1,033 78 353 63 49 14 571 40
41 Net long-term capital gain reduced by net 41,910 12,214 4,180 8,102 6,592 892 4,531 3,891 1,508 3,287 41
42 Net gain, sales other then capital assets ...... 4,600 859 519 649 334 79 161 1,899 100 671 42
43 Dividends, domestic corporations ............... 25,586 3,746 1,815 12,444 691 26 5,696 765 403 173 43
44 Dividends, foreign corporations ................ 8,883 15 - 1,931 - 3 6,773 1 160 36 44
45 Other receipts ................................. 139,638 19,381 8,282 27,202 6,790 2,341 46,867 12,783 1 15,992 3,403 45
46 Total compiled receipts .................... -
12,266,571 1,766,517 1,824,690 3,583,487 640,424 461,623 2,141,303 647,738 1,000,769 114,845 46
Deductions:
47 Cost of goods sold ............................. 957,252 323,209 143,531 166,609 85,030 91,181 57,334 38,476 51,882 28,836 47
48 Cost of operations ............................. 5,734,357 372,890 885,553 1,879,760 208,437 218,431 1,306,812 387,005 475,469 22,939 48
49 Compensation of officers ....................... 574,855 39,667 117,251 208,596 32,459 29,074 42,528 37,003 68,277 11,690 49
50 Rent paid on business property ................. 420,444 100,481 56,723 66,299 44,945 10,597 81,698 32,440 27,261 2,874 50
51 Repairs ........................................ 149,269 61,630 21,468 17,579 8,520 2,634 18,116 13,502 5,800 614 51
52 Bad debts ...................................... 23,645 3,590 4,387 6,268 1,933 1,499 1,925 1,237 2,806 443 52
53 Interest paid .................................. 108,153 39,642 8,659 15,373 12,531 1,407 20,080 6,639 3,822 2,031 53
54 Taxes paid ..................................... 297,504 78,115 41,150 45,553 18,381 8,351 47,112 40,921 17,921 2,487 54
55 Contributions or gifts ......................... 9,498 1,619 1,468 2,316 334 75 1,097 1,964 625 65 55
56 Depreciation and amortization .................. 565,610 113,335 67,447 120,571 100,302 10,421 91,425 43,204 18,905 3,527 56
57 Depletion ...................................... 1,059 214 272 56 127 5 1 378 6 223 57
58 Advertising .................................... 217,461 33,235 29,497 35,721 5,483 5,323 68,422 20,432 19,348 1,331 58
59 Amounts contributed under pension plans ........ 53,064 3,808 2,915 31,219 448 767 4,847 1,325 7,735 70 59
60 Amounts contributed under other employee 15,882 4,002 3,553 3,084 438 1,170 1,441 613 1,581 84 60
benefit plans.
61 Net loss, sales other then capital assets ...... 10,317 761 661 2,336 2,694 95 1,883 1,377 510 300 61
62 Other deductions ............................... 2,543,515 521,648 377,070 1 800,623 97,752 76,260 260,979 151,661 257,522 31,699 62
63 Total compiled deductions .................. 11)681,885 1,697,846 1,761,625 3,401,963 619,814 457,290 2,005,700 778,177 959,470 109,213' 63
64 Compiled net profit or net loss (46 less 63) ..... 6-8 67, 63,065 181,524 20,610 4,333
. 135,603 69,561 41 , 319 5, 632 64
65 Net income or deficit (64 less 36) ............... 583,250 68,619 63,013 180,454 20,547 4,333 135,587 69,532 41,165 5,505 65
66 Net operating loss deduction ..................... 27,432 3,664 3,922 5,102 1,564 728 5,086 4,183 3,183 66
67 Income tax ....................................... 317,201 39,460 29,439 94,533 11,558 41908 72,799 37,853 26,631 4,563 67
68 Excess profits t.x 4.............................. 1,452 138 227 264 52 14 512 199 46 - 6
69 Total tax ................................ i. 318,653 39,618 29,666 94,797 1.1,610 4,922 73,311 1 38,052 26,677 4,563 69
70 Compiled net profit less total tax (64 less 69).. 266,033 29,053 33,399 86,727 9,000 519 6,2,29 14 , 642 1 , 069 70
Dividends paid:
71 Cash and assets other than own stock ........... 158,525 20 636 13,672 45 213 3,312 1,013 45,525
T -
1 31'509
19,805
2,300 9,349 3,783 71
72 , 1 Corporation's own stock ........................ 15,982 3 1278
' 1,611 2147 -
1 , 8 1,589 3,0 1
Sum reported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 and ending on or before June 15, 1955. See this item in textual discussion, p.11.
I2Capital stock which was not definitely designated as either
,L.ss common or preferred was tabulated under common stock.
or deficit
4The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and
reported on returns for
annual accounting periods ended July tbrough November 1954 and returns for part years which began in 1953.
5Loss after total taxpayment.
Table 5-41ALANCE SHEETS AND RELATED INCOME STATEMENTS, BY SIZE OF TOTAL AMM
Size of total assets

item $25,000 $50,000 $l()O,OOO $250,000 $500,000 $1,000,000
Under under under
$250, under under under
Total und r
$25, 000 000 $500,000 $1,000,000 $2,500,000
$50,000 $100,000
(1) (2) (3) (4) (5) (6) (7) (8)
167,604 105,441 117,001 134,299 60,356 33,617 24,906 1

1 Number of returns with balance sheets ............................. 667,856
(7~--d d.11...
Assets: 2,143,470 2,475,213 4,634,621 2

81,723,091 310,692 491,403 980,597 2,262,931
2 Cash . . . ......................................................... 5,845,293 9,460,406
161,084,027 414,562 836,600 1,888,652 5,127,821 5,298,564 3
3 Notes and accounts receivable................................... 117,231 155,085 4
2,345,973 8,701 13,140 30,812 102,688 105,072
4 Less: Reserve for bad debts .................................. 3,772,311 3,685,583 3,797,977 5,244,186 5
62,913,531 291,628 670,467 1,493,961
5 Inventories .....................................................
2,091,188 14,492 26,433 54,889 122,601 116,467 118,651 154,036 f
6 Prepaid expenses and supplies ...................................
investments, Government obligations: 99,130 384,005
17,760,801 1,466 2,372 5,566 19,807 32,342
7 States , Territories, and United States possessions............ 2,817,957 E
108,572,771 4,380 11,264 37,968 160,700 274,017 669,746
8 United States obligations ..................................... 584,384 9
5,075,020 1,656 6,055 15,645 46,032 65,633 110,924
9 Not stated .. ..................................................
160,552,644 89,353 205,138 525,977 1,619,999 1,863,462 2,477o5OO 5,105,860 1C
0 Other investments ...............................................
266,933,819 1,066,295 1,965,777 4,171,065 10,008p290 9,196,488 9,823,356 1-3,310,502 11
1I Depreciable assets .............................................. 86,406 L
3,739,799 21,357 22,606 55,271 73,061 56,173 70,381
L2 lAss: Accumulated amortization...............................
....... 89,534,620 502,741 819,256 1,649,319 3,897,318 3,599,435 3,838,775 5,284,511 E
J Less: Accumulated depreciation........... 154, 831 200 , 732 311 , 753 412 , 294 V
8,921,431 39,205 50p537 82,183
L4 Depletable assets ........................... *'. ..* ****. **** :
76,789 104,914 178 , 358 1!
3,772,010 22,770 25,015 38,864 54,595
5 less: Accumulated depletion .............. ** :: .........
1,300,407 1,212,824 1,391,761 V
240,491 576,496 1,430,395
6 Land ............. . . ......................... .. ***- "*-: ........... 10,977,354 86,428
74,986 110,604 V
1,651,196 29,403 43,747 66,851 112,774 79,186
7 Intangible assets ............................................... 615,336 911,668 11
16,435,611 113,394 172,710 , 304,454 668,619 626,933
L8 Other assets ....................................................
805,300,082 1,907,385 3,842,977 8,430,038 21,379,449 21,D45,815 23,49lo388 38,817,924 1~
9 Total assets..............................................
Liabilities: 3,043,420 2,862,860 2,695,625 3,484,969 2(

38,152,704 470,295 669,549 1,310,164
?o Accounts payable ................................................
Bonds, nctes~ mortgages payable. 2,280,426 2,817,826 2:
23,238,607 262,859 422,105 849,419 2,203,165 2,225,623
1 Maturity less than I yew ..................................... 3,415,762 3,617,401 5,171,787 2;
..... .............................. 90,797,304 326,597 606tO53 1,333,580 3,488,077
22 Maturity 1 year or more
9,123 20,726 54,982 54,296 58,651 108,488 Z
Reserves for estimated expenses'................................ 1,270,064 5p731
!3 18,090 40,754 38p377 42,501 73,537 2,
Prepaid income 1 .................................................. 470,813 5,529 7,0914
4 143,592 283,231 727,895 719,129 812,266 1,164,055 Z
Accrued expenses ................................................ 19,373,489 94,112
5
353,498,323 203,359 235,067 513,040 1,120,041 1,326,825 2,432,311 9,553,122 21
6 Other liabilities ............................................... 149,295 383,508 437,295 546,634 1,087,670 2-
15,632,163 51,789 67,112
27 Capital stock preferred
, ........................................
2,482,068 5,251,715 4,185,025 4,081,813 5,627,530 21
2 90,730,133 1,078,614 1,399,095
8 Capital stock,1 ommon .......................................... 46,505 140,171 192o931 300,636 528,395 21
................................................ 12,926,842 11,547 16,450
29 Surplus reser~ves 1,423,920 4,925,721 . 5,587,692 6,623,124 9,200,545 --A
159,209,640 3603,047 , 267,737
30 Surplus " undivided profits ...................................
905,300,082 1,907,385 1 3,842,977 8p430,038 21,379,449 21,045,815 23,491,388 1 38,817,924 3
1 Total liabilities .........................................
Receipts: 40,578,256 3,
437,316,182 3,847,113 6,557,444 13,894,478 34,494,746 33,177,795 32,709,960
32 Gross sales ..................................................... 3,
1,873,787 1,837,635 3,114,395 6o353,348 5,310,734 4,962,387 6,261,873
33 Gross receipts from operations .................................. 94,162,134
Interest on Government obligations (less amortizable bond
premium): 17,379 66,723 3
........ 2,087,516 912 372 1,687 5,344 7,854
34 Wholly taxable ...................................... 782 3
96,037 50 8 24 71 113 278
35 Subject to surtax only ....................... ' : ........
3
.......... 389,281 28 45 202 612 1 , 354 3 , OD6 10,243
36 Wholly tax-exempt ............................ 362,129 3
5,769 8,993 23,436 81,246 119,445 153,778
37 Other interest .................................................. 8,928,323
105,319 155,570 321,881 715,728 574,175 499,646 518,487 3
38 Rents ........................................................... 4,648,773
557,550 7,683 5,947 7,480 21,681 21,521 24,798 50,978 3
39 Royalties .......................................................
2 , 246 2 , 408 4 , 797 2 , 733 3 , 553 5,927 4
40 Net short-term capital gain reduced by net long-term Capital lose 69,522 1, 629
91,140 118 , 441 4
l7o480 29,885 75,520 68,583
41 Net long-term capital gain reduced by net short-tem capital low 1,884,670 15,089
74,836 78,479 4
78,807 137,898 107,204
42 Net gain, sales other than capital assets ....................... 694,826 22,559 41,987
84,376 4
2,308,749 1,479 3,655 5,433 22,014 23,045 39,999
43 Dividends, domestic corporations ................................ 2,993 4
612,610 217 27 407 3,224 SO8 1,200
44 Dividends, foreign corporations ................................. 410,020 4
3,245,086 47,091 63,092 125,665 332,690 329,684 322,035 _
45 Other receipts ..................................................
547,001,259 5,928,725 8,694,501 17,606,188 42,248,919 39,745,G48 38,903,995 48,549,707 4
46 Total compiled receipts ...................................
Deductions: 26,197,019 32,201,294 4

334,348,173 2,802,778 4,874,914 10,713,008 27,380,761 26,640,749
47 Cost of goods sold.............................................. 3,363,438 4,199,614 4
1,084,347 1,880,459 4,124,316 3,596,731
48 Cost of operations .............................................. 49,877,515 1,071,707
939,604 930,758 4
8,959,8" 485,960 560,411 914,093 1,648,900 1,193,422
49 Compensation of officers ........................................ 323,368 342,257 5
4,968,330 231,689 222,516 316,422 509,975 385,230
50 Rent paid on business property ................................. 179,481 260,827 5
4,954,386 34,655 48,347 87,463 193,081 172,768
51 Repairs ......................................................... 110,570 5
1,333,831 13,467 21,624 45,630 105,274 91,483 84,794
52 Bad debts .......................................................
6,190,644 23,817 44,801 94,879 251,342 247,293 265,296 381,718
53 Interest paid ................................................... 770,938
100,223 146,006 270,046 602,914 539,093 557,223
54 Taxes paid ...................................................... 12,305,138
30,576
310,946 1,165 1,772 4,853 13,137 15,138 19,228
55 Contributions or gifts ..........................................
......... 13,486,365 116,943 175,244 333,182 746,396 651,200 657,658 854,310
56 Depreciation and amortization........................ :: .........
2,242,368 2,345 1,899 4,291 15,712 22,632 32,231 77,043
57 Depletion............................................ 487,247
5,696,934 60,933 87,026 159,363 368,237 335,089 339,658
58 Advertising .....................................................
1,355 2,401 6,370 21,848 35,869 58,608 116,336
59 Amounts contributed under pension plane ......................... 2,803,432
2,675 4,474 9,362 26,288 29,575 33,744 51,667 t
60 Amounts contributed under other employee benefit plane .......... 900,202
249,879 14,577 7,624 9,299 20,181 12,779 13,503 21,959
61 Met loss , sales other than capital assets.......................
61,897,310 1,087,815 1,374,736 2,497,564 5,386,176 1 4,810,464 4,624,994 5,801,017 1
62 Other deductions ................................................
510p515,297 6,052,104 8,658,142 17,346,284 41,414,538 38,779,515 37,689,867 46,638 131
63 Total compiled deductions .................................
36,485,962 -3-J'2-
3,379 36t359 259,904 834,381 965,533 1,214,128 1,911,576
64 Compiled net profit or net loss (46 less 63) ...................... 1,901,333
3123,407 36,314 259,702 833,769 964,179 1,211,122
65 Net income or deficit (64 less 36) ................................ 36,096,681
38 080
423,974 27,515 25,367 37,546 63,507
66 Met operating loss deduction ......................................
16,645,457 25,469 60,630 143,488 390,149 445,366 592,430 979,976
67 Income tax .......... .............................................. - 989 1,633 2,069 3,264
36,828 27 107
68 Excess profits tax* ............ ...................................
16,682,285 25,469 60,657 143,595 391,138 446,999 594,499 983,240
69 Total tax .................................................
1148,848 524,298 116,309 "3,243 518,534 619,629 1 928,336
70 Compiled net profit less total tax (64 less69) ................... 19,803,677
Dividends paid: 392,333 1
26,8D4 38,985 61,104 160,394 176,084 2 32,108
71 Cash and assets other than own stock............................ 11,831,629
53,369 89,226 2
1,343,690 573 1,582 8,827 34,959 47,026
72 Corporation's own stock ......................................... .
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of DBta.-
Table 5.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY SIZE OF TOTAL ASSETS-Continuod
Size of total assets-Continued
Item $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000

under under under
'000 under
'000,000 under $250,000,000
under
$5,000,000 $10,000,000 $25 1000 $50 or more
$100,000,000 $250,000,000
(9) (10) (11) (12) (1-3) (14) (3-5)
1 Number of returns with balance sheets ............................. 10, W 6,324 4,228 1,490 794 541 391 1
(77...-d d.11 ...
Assets:
2 Cash ............................................................ 4,968,942 5,71.2,955 7,579,602 5,720,108 5 801 458 8,543,643 30,097,456 2
3 Notes and accounts receivable ................................... 9,172,312 9,857,016 13,593,730 10,917,301 10,444:145
, 16,893,743 61,333,882 3
4 less: Reserve for bad debts .................................. 128,857 139,369 194,240 169,187 156 '016 220,682 804,893 4
5 Inventories ..................................................... 3,941,505 3,915,613 5,460,625 3,979,849 4,234,487 6,209,757 16,225,582 5
6 Prepaid expenses and supplies ................................... 133,452 123,802 155,313 144,563 135,707 155,281 635,501 6
7 States, Territories, and United States possessions ............ 802,665 1,391,299 1,869,888 1,687,704 1,561,994 2,302,577 7,599,986 7
8 United States obligations ..................................... 4,347,546 6,995,768 10,802,629 8,788,018 9,487,718 13,386,402 50,788,658 8
9 Not stated .................................................... 920,380 154,093 435,810 226,744 255,851 459,402 1,792,411 9
10 Other investments............................................... 5,849,028 8,223,901 13,202,979 10,144,252 10,502,662 1.3,438,835 97,303,698 10
11 Depreciable assets .............................................. 10,113,040 10,156,133 15,472,977 12,991,407 16,859,701 26,974,224 124,824,564 U
12 Less; Accumulated amortization ............................... 72,380 114,961 196,031 150,199 197,343 282,874 2,340,756 12
1.3 Less: Accumulated depreciation ............................... 3,832,975 3,813,174 5,605,532 4,826,066 5,514,249 7,745,495 38,605,774 13
14 Depletable assets ............................................... 4",317 558,013 698,373 995,329 846,478 518,759 3,608,627 14
15 Less: Accumulated depletion.................................. 166,579 199,796 221,255 457,370 376,515 189,842 1,659,348 15
16 land ............................................................ 835,803 634,437 756,423 404,194 345,208 621,083 1,141,404 16
17 Intangible assets ............................................... 73,752 102,751 120,194 97,746 62,681 146,388 530,133 1?
18 Other assets .................................................... 719,742 646,"9 1,006,970 910,043 1,250,496 1,664,267 6,824,530 18
19 Total assets .............................................. 38,121,693 '44,204,930 64,938,455 51,404,436 55,544,463 82,875,468 349,295,661 19
Liabilities:
20 Accounts payable ................................................ 2,437,212 2,002,599 2,543,932 1,816,068 1,912,263 2,622,165 10,281,583 20
21 Maturity less than 1 year ..................................... 1,840,431 1,704,692 1,788,052 1,122,445 1,291,598 1,660,117 2,769,849 21
22 Maturity 1 year or more ....................................... 4,022,169 3,432,789, 5,318,961 3,944,057 5,431,412 10,757,410 39,931,249 22
23 Reserves for estimated expensesl................................ 67,537 72,607 89,803 75,781 85,247 280,232 286,860 23
24 Prepaid incomel ...................... I .......................... 53,727 28,731 29,628 18,328 25,500 23,625 65,392 24
25 Accrued expenses ................................................ 963,570 911,914 1,377,247 1,074,498 1,317,161 2,002,191 7,782,628 25
26 Other liabilities ............................................... 15,037,513 21,095,733 32,272,691 25,865,617 25,689,516 38,067,713 180,085,775 26
27 Capital stock preferred ........................................ 715,163 677,194 1,155,249 1,081,188 1,289,440 2,398,383 5,592,243 27
common 2
28 .......................................... 3,861,601 3,815,367 5,049,752 3,916,085 5,007,425 7,733,908 37,240,135 28
29 Surplus reserves ................................................ 613,685 881,891 1,391,373 1,169,202 1,211,502 1,494,400 4,928,154 29
30 Surplus and undivided profits ................................... 8,509,085 9,581,413 13,921,767 11,321,167 12,283,399 15,835,324 60,331,793 30
31 Total liabilities ........... I ............................. 38,121,693 44,204,930 64,938,455 51,404,436 55,544,463 82,875,468 349,295,661 31
Receipts:
32 Gross sales ..................................................... 28,093,134 26,475,713 33,514,623 25,103,069 24,995,747 32,284,979 101,589,125 32
33 Gross receipts from operations .................................. 4,244,479 4,361,136 4,494,357 3,814,218 4,756,176 7,482,303 25,305,306 33
premi-):
34 Wholly taxable................................................ 106,093 140,315 216,212 173,148 174,773 264,908 911,796 34
35 Subject to surtax only........................................ 2,922 2,843 4,721 5,290 7,079 10,626 61,230 35
36 Wholly tax-exempt ............................................. 19,360 29,288 39,836 33,462 38,072 45,843 167,930 36
37 Other interest .................................................. 431,071 594,488 869,539 679,125 573,551 819,048 4,206,705 37
38 Rents ........................................................... 321,477 124,631 168,659 69,139 104,522 201,635 767,904 38
39 Royalties ........................................................ 35,312 41,571 75,619 41,191 76,695 31,817 115,257 39
40 Net short-tem capital gain reduced by net long-tem capital lose 3,973 3,478 6,551 4,893 4,076 7,409 15,849 40
41 Net long-tem capital gain reduced bynetsbort-tem capital loss 125,338 127,866 210,369 162,975 204,891 182,209 454,884 41
42 Net gain, sales other than capital assets ....................... 26,595 27,761 19,730 20,890 10,227 8,477 39,376 42
43 Dividends, domestic corporations ................................ 93,288 93,202 225,215 140,843 254,636 195,487 1,126,077 43
" Dividends, foreign corporations................................. 6,619 7,666 27,827 26,533 67,024 73,113 394,952 44
45 Other receipts ............................................... ... 265,282 238,549 257,775 171,108 132,641 170,159 379,295 45
46 Total compiled receipts ................................... 33,774,943 32,268,507 40,121,033 30,445,684 31,400,110 41,778,013 135,535,686 46
Deductions:
47 Cost of goods sold .............................................. 22,020,276 20,450,454 25,157,404 18,462,328 18,865,355 23,983,564 74,598,269 47
48 Cost of operations .............................................. 2,767,414 2,809,974 2,593,596 2,279,409 2,640,224 3,967,038 13,499,248 48
49 Compensation of officers ........................................ 524,736 403,632 397,479 227,372 165,183 204,875 363,419 49
50 Rent paid on business property.................................. 228,744 219,588 271,935 191,292 224,217 313,773 1,187,304 50
51 Repairs ......................................................... 212,436 239,688 390,083 370,201 365,926 518,367 1,881,063 51
52 Bad debts ....................................................... 106,944 151,614 110,648 90,201 114,020 209,159 52
53 Interest paid ................................................... 339,360 385,626 584,041 420,050 433,077 666,267 2,053,077 53
54 Taxes paid ...................................................... 5$0,210 672,575 897,954 856,030 670,938 1,055,385 4,585,603 54
55 Contributions or g ifts .......................................... 24,905 24,696 34,244 24,271 19,420 23,324 74,217 55
56 Depreciation and amortization ................................... 609,966 607,052 S",483 669,892 769,626 1,260,693 5,189,720 56
57 Depletion ....................................................... -70,349 73,719 126,242 164,049 133,956 130,548 1,387,352 57
58 Advertising ..................................................... 379,245 375,896 549,019 392,409 417,912 600,199 1,1",701 58
59 Amounts contributed under pension plans ......................... 120,420 140,259 240,030 196,626 204,234 288,128 1,370,948 59
50 Amounts contributed under other employee benefit plans .......... 45,081 53,366 78,524 55,629 60,105 68,940 380,772 60
51 Net loss, sales other than capital assets ....................... 26,788 14,357 27,912 18,420 9,637 10'"9 42,394 61
52 Other deductions ................................................ 3,998,029 3,820,538 4,865,464 3,646,671 3,672,829 4,788,271 11,512,742 62
53 Total compiled deductions ................................. 32,036,362 30,398,364 37,210,024 28,085,297 28,732,840 37,993,941 119,479,988 63
54 Compiled net profit or net loss (46 less 63) ...................... 1,738,581 1,870,143 2,911,009 2,360,587 2,667 270 3,784,172 16,055,698 64
55 Net income or deficit (64 less 36) ................................ 1,719,221 1,840,855 2,871,173 2,327,125 2,629:198 3,738,329 15,887,768 65
56 Net operating loss deduction...................................... 26,731 22,112 37,366 1 11,260 14,190 25,922 12,757 66
5? Income tax ........................................................ 871,329 922,815 1,395,510 1,106,71.3 1,220,127 1,763,541 6,707,914 67
58 Excess p rofit s tax 4............................................... 2,574 2,742 5,409 4,164 2,696 4,212 6,742 68
59 Total tax ................................................. 873,903 925,557 1 1,400,919 1,110,877 1,223,023 1,787,753 1 6.714.656 69
70 Compiled net profit less total tax (64 less 69) ................... 864,678 9", 58 1,249,710 1,444,247 1,996,41 9 , 341 , 042 70
Dividends paid:
71 Cash and assets other than own stock............................ 381,267 469,58 2 '090
700 737,732 971,824 1,354,25 : 6,000,455 71
72 1 Corporation's own stock......................................... 65,359 61,772 109,340 66,467 113
1 1
ireported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 and ending on or before June 15, 1955. See this item in textual discussion, p. 11.
Cap tal stock which was not definitely designated as either common or preferred was tabulated under common stock.
Sum or deficit.
3Loss
4The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for
5Loss after total taxpayment.
NOTE: See text for explanatory statements and for --Description of the Sample and Limitations of Data.-'
RETURNS WITH BALANCE SHEETS I
S!
Table G.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL OROUP
Iftjor industrial group, selected itams $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,ODO,OOO $10,000,000 $25,000,000 $50,000,0GO $100,000,000
Under
, under $2501 000,000
Total under under =der under under under under under under under under
$25 000 $25'000~000 W~COO'000 $100,00010CO $250~000~000 or more
$50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,ODO,000 $10,000,000
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
ALL INEUSTRIAL GROUPS
Number of returns with balance sheets ......... 667,856 167,604 105, "l 117,001 1.34,299 60,356 33,617 24,906 10,864 4,228 1,490 794 541 391
(7b--d d.11...)
Cash 81,723,091 310,692 491,403 980,597 2,262,931 2,143,470 2,475,213 4,634,621 4,968,942 5,712,955 7,579,602 5,720,108 5,801,458 8,543,643 30,097,456
158,738,054 405,861 823,460 1,857,840 5,025,133 5,193,492 5,728,062 9,305,321 9,043,455 9,717,647 13,399,490 10,748,114 10,288,129 16,673,061 60,528,989
Not e; * a'r*~d* * cc'~
*' t* s" r* e'c' e*iv*a' b*l'e* ' 1*e's* s' * r* e*a' *a~**e'
62,913,531 291,628 670,467 1,493,961 3,772,311 3,685,583 3,787,977 5,244,186 3,941,505 3,915,613 5,460,625 31979,849
, 4,234,487 6,209,757 16,225,582
Inventories ...................................
291,961,236 96,855 224,829 585,156 1,846,538 2,235,454 3,357,300 8,892,206 11,919,619 16,765,061 26,311,306 20 846,718 21,808,225 29,587,216 147,484,753
Investments ...................................
191,437,371 1,433,675 3,153,141 7,681,316 7,0",416 7,408,849 9,675,886 7,394,978 7,323,403 11,025,149 9,055,041 12,025,961 20,042,243 87,498,850
Capital assets less reserves .................. 674,463
23,491,388 64,938,455 51,404,436 55,544,463 82,875,468 349,295,661
Total assets-Total liabilities ............... 805,300,082 1,907,385 3,942,977 8,430,038 21,379,449 21,045,815 38,817,924 38,121,693 ",204,930
Accounts and notes payable .................... 61,391,311 733,154 1,091,654 2,159,583 5,246,585 5,088,483 4,976,051 6,302,795 4,277,643 3,707,291 4,331,984 2,938,513 3,203,861 4,282,282 13,051,432
Bonds and mortgages payable ................... 90,797,304 326,597 606,053 1,333,580 3,488,077 3,415,762 3,617,401 5,171,787 4,022,169 3,432,789 5,318,961 3,9",057 5,431,412 10,757,410 39,931,249
11130,403 1,466,207 2,631,363 5,635,223 4,622,320 4,628,"7 6,715,200 4,576,764 4,492,561 6,205,001 4,997,273 6,296,865 10,132,291 42,832,378
Capital stock ................................. 106,362,296
585,769 293,310 1,491,151 5,120,974 5,834,919 6,982,411 9,837,428 9,190,307 10,535,911 15,402,943 12,566,150 13,580,148 17,609,956 65,546,8017
Surplus and undivided profits ................. 173,406,546
Gross sales and gross receipts from operations 521,478,316 5,720,900 8,395,079 17,008,873 40,848,094 38,488,529 37,672,347 46,840,129 32,337,613 30,836,849 37,998,980 28,917,287 29,751,923 39,767,282 126,894,431
Total compiled receipts ....................... 547,001,259 5,928,725 8,694,501 17,606,188 42,248,919 39,745,048 38,903,995 48,549,707 33,774,943 32,268,507 40,121,033 30,445,884 31,400,110 41,778,013 135,535,686
Cost of goods sold and of operations .......... 384,225,688 3 874,485 5,959,261 12,593,467 31,505,077 30,237,480 29,560,457 36,400,908 24,787,690 23,260,428 27,751,000 20,741,737 21,505,579 27,950,602 88,097,517
Compiled net profit or net loss ...............
.... 36,485,962 1123,379 36,359 259,904 834,381 965,533 1,214,128 1,911,576 1,738,581 1,870,143 2,911,009 2,360,587 2,667,270 3,784,172 16,055,698
36,314 259,702 833,769 964,179 1,211,122 1,901,333 1,719,221 1,840,855 2,871,173 2,327,125 2,629,198 3,738,329 15,887,768
Net income or deficit .................... 36,096,681 '123,407
391,138 "6,999 594,499 983,240 873,903 925,557 1,400,919 1,110,S'n 1,223,023 1,787,753 6,714,656
Total tax ................................ : .... 16,682,285 25,469 60,657 143,595
Dividends paid in cash and assets other than
26,804 .38,985 160,394 176~084 232,108 3192,333 381,267 469 5_86 828,700 737,732 971,824 1,354,253 6.000.455
own stock .................................... 11,831,629 61,104
TOTAL AGRICULTURE, FOR TRY, AND FISHERY
Number of returns with balance sheets. ........ 7,790 1,342 1,300 1,556 2,046 746 441 241 76 23 12 5 1
(rh-.-d d.11 ... )
191,478 2,346 4,695 10,102 28,220 21,361 23,259 21,767 15,698 11,810 20,733 8,515 1,407 - 21,565
Cash ..........................................
15,0174 26,111 16,505 1,723 - 194,152
Notes and accounts receivable less reserve.... 451,978 1,616 7,102 15,925 39,845 37,613 29,197 37,706 29,409
35,647 13,939 24,449 8,609 - 3,263
Inventories ................................... 277,629 1,326 3,686 7,615 40,472 32,424 36,995 45,836 23,368
53,914 43,211 22,323 38,472 15, "3 - - 120,686
Investments ................................... 376,424 424 2,436 3,219 23,602 22,074 30,620
Capital assets less reserves .................. 1,250,693 10,939 29,650 71,911 199,797 132,860 181,81.2 198,540 137,882 70,141 76,651 96,413 46,359 7,738
Total assets-Total liabilities ............... 2,620,450 16,967 49,430 112,318 330,033 256,703 307,590 367,826 258,319 158,395 182,335 169,516 58,911 352,107
507,814 6,708 13,397 36,251 71,409 58,903 43,057 71,728 30,408 27,070 48,299 38,074 59,184 - 3,326
Accounts and notes payable ....................
333,791 3,280 12,459 19,530 63,135 34,634 52,537 62,376 46,852 22,094 2,027 14,867 - - -
Bonds and mortgages payable ...................
Capital stock ................................. 870,340 12,838 20,542 46,516 125,813 77,194 117,896 119,571 50,983 35,540 30,122 31,325 2,000 200,000
17,915 12,553 3,510 54, 078 71,812 76,748 95,805 118,338 59,451 70,156 33,295 13,199 - 126,076
Surplus and undivided profits ................. 695,602
39,553 74,142 152,607 360,542 228,810 220,604 266,773 149,682 121,293 131,610 128,351 27,822 - 229,240
Gross sales and gross receipts from operations 2,131,029
Total compiled receipts ....................... 2,225,750 40,781 75,774 154,940 373,166 238,304 231,325 282,450 161,374 127,358 140,430 137,086 28,072 234,690
Cost of goods sold and of operatio. .......... 1,552,480 26,740 52,393 112,039 273,597 167,800 163,162 198,112 114,154 85,886 93,285 86 403 14,400 164,509
11,415 164 753 6,307 6,233 9,438 16,141 14,338 11,640 1-2,159 28:465 13,329 - 21,016
Compiled net profit or net lose ............... 121,910
11,415 164 753 6,303 6,233 9,436 16,135 14,331 11,634 12,127 28,463 13,329 - 20,918
Net income or deficit ......................... 121,753
683 1,606 5,307 3,177 5,478 9,252 6,925 4,527 5,660 11,285 - - 10,813
Total t ax ..................................... 65,053 340
own stock .................................... 49,253 463 "1 1,478 4,116 2,40`7 2,359 3,044 2,838 2,390 2,672 720 26,325
FARMS AND AGRICULTURAL SERVICES
Number of returns with balance sheets ......... 7, 077 1,147 1,195 1,375 1,902 733 396 234 56 20 12 1
(7h--d bil...)
9,385 25,209 20,957 18,800 21,520 11,519 10,697 20,733 8,515 1,407 21,565
Cash .......................................... 176,743 1,945 4,491
Notes and accounts receivable less reserve.... 437,344 1,471 6,859 14,114 35,846 37,290 28,601 37,330 23,122 14,220 26,111 16,505 1,723 194,152
7,589 39,744 31,615 34,845 45,668 18,777 35,647 13,939 24,449 8,609 - 3,263
Inventories ................................... 269,082 1,290 3,647
20,547 21,916 28,244 50,686 34,055 20,693 38,472 15,443 - - 120,686
Investments ................................... 356,304 333 2,406 2,823
Capital assets less reserves .................. 1,136,767 9,737 26,591 62,530 178,671 129,950 157,650 192,225 95,151 57,101 76,651 96 413 46,359 - 7,738
306,851 251,979 273,315 357,364 188,920 141,647 182,335 169:516 58,911 - 352,107
Total assets-Total liabilities ............... 2,443,225 14,964 45,630 99,686
Accounts and notes payable .................... 483,811 4,606 11,809 29,598 67,673 57,759 40,494 68,893 27,241 26,855 48,299 38,074 59,194 3,326
Bonds and mortgages payable ................... 303,149 2,647 11,785 15,175 57,380 34,086 49,870 61,952 33,984 19,376 2,027 14,667 - -
Capital stock ................................. 797,913 11 142 19,099 41,945 113,833 73,321 97,943 114,771 31,897 30,515 30,122 31,325 2,000 - 200,000
93,503 86,901 56,485 70,156 33,295 13,199 - 126,0`76
Surplus and undivided profits ................. 664,039 15:260 '2,553 8,219 54,319 72,841 73,256
115,417 131,610 128,351 27,822 - 229,240
Gross sales and gross receipts from operations 2,052,678 31,657 68,938 1",711 347,800 221,193 214,229 260,931 130,779
70,539 146,919 358,567 230,516 223,270 276,568 138,061 119,685 140,430 137,086 28,0`72 - 234,690
Total compiled receipts ....................... 2,136,666 32,263
93,285 86 403 14,400 - 164,509
Cost of goods sold and of operations .......... 1,495,347 22,131 49,219 106,948 263,810 162,013 159,970 193,695 97,702 81,262
114,129 11,185 508 1,975 5,005 6,118 8,263 15,856 9,129 10,149 12,159 28:465 13,329 - 21,016
Compiled net profit or net lose ...............
113,977 11,185 508 1,975 5,001 6,118 8,261 15,850 9,127 10,143 12,127 28,463 13,329 - 20,918
Net income or deficit .........................
1,589 4,813 3,118 4,807 9,142 5,070 4,115 5,660 11,285 - 10,813
T,tal tax ..................................... 61,312 227 673
Div.dends paid in cash mid assets other than
own -,tock .................................... 44,950 185 "1 820 3,225 2,405 2,254 3, G" 1,469 1,390 1 2,672 1 7201 4&2~
See fwtnotes at end of table. See text for explanatory statements and for -Description of the Sample and Limitations of Data.'-
TWO G.-ZELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS~ TOTAL TAY~ AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continuod
Major industrial group, selected items $25,ODO $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000
Under under under under under $250,000POOO
Total under under under under under under under under
$25,000 or -a
$50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $250,000,000
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (14) (15)
FORESTRY
Number of returns with balance sheets ......... 252 60 (1) 81 42 19 3

(7h-~d d.11.1.)
Caah .......................................... 12,437 233 2,329 4,382 4,136 1,113

Notes and accounts receivable less reserve .... 10,043 62 2,665 1) 458 5,314 854
- 385 2 1 470 4 492 -
Inventories ................................... 6,490
80 2,915
, 2 21345 81117 1,630
Investment ................................... 15,088 , ,
296 5 110 2) 22,976 - 42,385 13,040
capital ::sets less reserve ................... 87,351
2)
708 13,729 31,967 66,819 16,748
Total as ts-Total liabilities ............... 134,779
6 978 75 1,212
, (1) 1 212 - 3 126 215
Accounts nd notes payable ....................
19,164 - 1 000 2 2,525
I 12P868
P 2,718
Bonds andamor~gagea payable ...................
Capital stock ................................. 58,838 436 10,275 (1) 19,499 18,515 5,025
(2) 3,323 29,471 2,966
Surplus and undivided profits ................. 34,708 37 660
(2) 5,876
Gros; sales and gross receipts from operations 32,806 537 2,716 4 706 17,756
Totes1 compiled receipts ....................... 42,838 918 4 505 (2) 61374
1 22,121 7,673
Cost of goods sold and of operations .......... 23,844 - 1,707 ((2 1,886 15,167 4,624
1 417 2)) 1 285 5,426 1,491
Compiled net profit or net loss ............... 10,125 407
......................... 407 1:417 (2) 11285 5 42 IP491
Net income
Total tax or deficit 10,120 1
.......... 3,513 113 436 2 664 1:8551 41.2
Dividends paid in cash and assets other than (2)
o- stock .................................... 4,297 278 890 105 1,369 1,000
FISHERY
Number of returns with balance sheets ......... 461 135 95 150 63 7 3 7 1
(7h-.-d d.11...
'aoh*,~~,..~~i.,re.e****,,***********,* ....
.a. 2,298 168 158 659 682 264 77 247 43
ivable less reserve .... 4,591 83 93 1,272 1,334 322 1.38 376 973
Inventories ................................... 2,057 36 39 26 343 666 680 168 99
Investment ...................................
Capital 5,032 11 30 396 140 157 31 3,228 1,039
assets less reserves .................. 26,575 906 3,059 7,725 6,016 1,022 1,186 6,315 346
Total assets-Tatal liabilities ............... 42,446 1,295 3,427 10,378 9,453 2,543 2,308 10,462 2,580
Accounts and notes payable .................... 17,025 2,027 1,421 5,808 2,484 1,058 1,351 2,835 41
Bonds and mortgages payable ................... 11,458 633 674 4,282 4,755 548 142 42,4 -
Capital stock ....................... 13 589 1 260 1,243 2 855 1 705 701 454 4,800 571
Surplus and undivided profits ....... :*:::::::: 13' 145 1 2,692
, 16 1 4: 112 I 901 129 169 2o3O2 1,966 - - -
Gross sales and gross receipts from operations 45,545 7,359 5,204 7,806 10,026 6,492 1,669 5,842 1,147
Total compiled receipts ....................... 46,246 7,600 5,225 7,923 10,094 6,649 1,681 5,882 1,192
Cost of goods sold and of operations ......... 33 289 4 609 31174 5 090 8 080 5,328 1 306 4,417 1 285
Compiled net profit or net loss .............. 12:344 1637 353 11:233 1115 36 illo 285 1217
Net income or deficit ......................... 12,344 1637 1353 11,233 111.5 36 1110 285 '217
Total tax ..................................... 228 - 8 17 58 28 7 110 -
own stock .................................... - - (2) (2) - - - - - -
TOTAL MINING AND QUARRYING
Number of returns with balance sheets ......... 8,704 1,796 872 1,242 1,820 1,214 727 526 222 112 41 23 14 4
911
(7h-.-d dbil.r.)
059,241 3,687 4,322 11,510 32,930 53,626 64,413 96,917 90,929 68,070 1.31,099 106,414 L30,516 161,388 103,420
Cash 1,496,088 7,0007 15,662 56,876 76o598 73,094 1.27,430 114,878 92,346 144,933 179,455 170,282 179,699 253,602
Not re. able less reserve
......
.... 1' 4,236
Inventories ................................... 640,408 677 877 1,875 8iG43 14o829 16,78-7 36,888 32,111 35,180 65,337 65,880 87,382 115,619 158,923
Investments ................................... 2,220,558 1,324 2,174 5,371 20,960 39,171 43,085 94,869 1.33,709 127,253 181,213 273,475 207,461 582,487 508,006
Capital assets less reserves .................. 6, 111, 262 8,581 16,294 53,713 162,747 234,267 289,707 434,605 374,725 438,37i 840,204 752,841 845,511 901,644 758,052
Total assets-Total liabilities ............... 11,891,355 19,490 32,324 91,218 294,41-3 435,262 506,047 826i651 773,532 792,884 1,406,343 1,410,737 1,476,483 1,995,554 1,830,417
Accounts and notes payable .................... 1,244,726 10,264 12,612 23,819 83,558 107,447 119,163 142,702 82,822 90,064 141,688 114,654 131,865 112,570 71,498
Bonds and mortgages payable ................... 1,713,453 3,674 2p520 8,548 33,133 53,824 57,554 65,831 109,454 142,692 224,168 214,046 240,275 557,734 -
Capital stock ................................. 2,562,736 35 973 23,674 5lp386 141,216 132,586 146,596 221,578 202,512 139,515 302,897 319,899 234,564 321,553 288,787
S-plus and =divided profits ................. 5,406,806 ,
134,731 112,448 11,780 11,559 108,078 153,171 339,210 273,851 372,412 639,846 696,424 725,995 968,418 1,166,901
Gross
Total sales and gross receipts from operations 7,880,876 34,232 40,252 120,002 332,579 392,929 467,924 641,557 527,034 523,492 8%,806 795,865 858,769 690,592 1,360,943
compiled receipts ....................... 8,180,825 35,239 41,"3 123,965 343,490 406,767 478,952 664,070 547,067 545,166 934,290 832,387 892,551 953,294 1,382,144
Cost of goods sold and of operations .. ........ 4,849,643 24,782 27,339 82 555 234 135 281,552 324,758 419,022 341,533 336,622 565,526 484,372 528,690 578,944 619,813
Compiled net profit or net loss ............... 736,492 13,458 13,143 f 155 104 32 24 786 14 739 32 673 60,535 59,095 89,464 58,081 413,555
:
Net income or deficit ......................... 735,742 13,458 13,143 1202 "'
1"609- ": 119
11 21 24:710 14,716
, 32:551 60,245 59,014 89,440 58,021 413,555
Total 424,946 388 377 1,758 4,900 6,169 7,852 18,368 16,228 20,724 30,218 30,514 49,404 28,003 210,043
Dividends
t`x---**-**-
paid in cash and
... assets
*-* ........
other than
*"***
own stock .................................... 735,674 733 419 2, 101 _ 3,481 4,861 6,220 18,467 17p234 32,495 32,750 57,126 47,611 65,597 1 446.579
Fn
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data. 11
ACTIVE COMRATION INCOME TAX PMURNS-1954
j--A
-In A~Au.
,r-N~ "" , no~
-
cl
RA N xf 3 12,112
'Oil
W!~ _7 n Q
4's
I
39-H HUH -A~ N
~2
4 -11HH3H 1 0 -H1. A. N
ci N11
H I
El
R . E N
2 i C, A N HR
NH cl;,
'IR R,aT2 nN, -AIR ZgE g; . . .. . . . . % ig
zt A."m
ci A ci m
- - - --- - - - --- - --- - H
H"q unn ~-pm
n ill I N~ mm
10 ukr
N-~.o m An W,
Table 6-6ELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAM, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued
Major industrial pow, selected items $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000 000
Under $250,000,000
Total under under under under under under under under under under under under'
$25,000 a
$50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,ODO,000 $10,000,000 $25,000,000 W,000,000 $10o,000,000 $250,000,000 or
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
MINING AND QUARRYING: CRUDE PETROLEUM AND
NATURAL GAS PRODUCTION
Number of returns with balance sheets ......... 4,481 1,029 475 708 841 594 356 252 104 48 33 24 11 4 2
(7hoe-d doit... )
Cash.. 455,974 2,013 2,377 7,328 13,578 26,505 31,134 40,059 47,179 22,438 45,121 61,374 57,234 53,419 46,215
Not" ;'~W c'e'i v'&'b'1'e- *1e'e'a' * r'e'a' e*r'v'e*' 769,417 2,279 4,347 9,511 26,020 37,745 36,387 77,M 60,834 31,939 61,066 93,543 65,460 28,431 233,999
Inventories ................................... 257,210 401 222 550 2,062 4,500 5,826 13,730 10,413 10,320 15,284 25,705 38oll3 27,649 102o435
Investments;j.,
Capital 6il,554 1,21.4 1,502 3,181 13,579 19,333 14,711 32o740 58,573 47,696 52,268 141,568 114,926 69,877 40,386
ass less reserves .................. 3,062,164 4,560 8,057 27,995 73,663 115,623 155,139 213,963 163,540 219,459 335,892 503,528 423,474 295,959 521,312
Total assets-Tottal liabilities ............... 5,295,829 11,206 17,568 49,786 134,271 210,983 247,980 400,493 348,673 341,104 522,498 848,136 706,219 497,380 959,532
Accoumte and notes payable .................... 614,081 5,231 7,543 13,587 40,808 59,605 69,345 89,598 39,599 46,724 55,830 80,566 47,508 24,176 33,961
Bonds and mortgages payable ......... ......... 860,529 1,608 1,165 4o756 20,223 32,750 26,010 43,909 76,444 88'0~9 132,388 170,039 152,743 110,445 -
Capital stock ....................... : ......... 1,030,388 25 a" 13,716 23,194 65,581 58,760 89o2O2 73,892 83,463 53,883 114,547 167,723 96,665 64,025 99,893
Surplus and undivided profits ................. 2,318,909 23,282
' 19,591 3,446 12,537 43,599 51'"1 170,176 86,578 133,976 202,694 388,057 353,894 288,129 632,329
Gross sales and gross receipts from operations 3,453,719 11 497 17 195 68 144 134 310 171,034 192,503 277,996 170,861 173,977 184,121 387,235 396,814 292,135 975,897
Total compiled receipts ....................... 3,600,487 12,1 10`7 18;107 70,859 140:499 180,988 199,103 292,628 181,984 164,917 204,252 410,340 418,181 305,712 980,810
Cost of'goodS Bold and of operations .......... 1)888$558 7 081 1101 831 46,619 91 687 119,695 132,657 169,248 91,006 104,443 105,402 186,113 215,713 161,005 447,058
Compiled net profit or net loss ............ ... 401,265 111 125 1,692 1,220 13 ,: 864 11 841 13 196 11 "5 ~4 116 7,774 10,733 37,642 52,957 7,297 288,031
Net income or deficit ......................... 401,106 1,125 11,692 1,173 13 865 11 854 3 196 11,443
o 14 120 7,764 10,651 37,642 52,957 7,297 288,031
Total tax ..................................... 236,939 269 204 1,228 2,175 2,703 2,955 8,565 7,039 6,966 5,825 19,808 26,741 3,265 149,196
ovn stock .................................... 494,701 658 281 1,835 2,436 2,227 1,450 9,177 7,159 19,530 7o726 43,106 25,469 22,426 351,221
MINING AND QUARRYING: NONMETALLIC IRKING

AND QUARRYING
Number of returns with balance sheets ......... 2,001 280 206 295 577 306 163 112 25 19 15 1 -
(V-d d.11 ...)

Cash .......................................... 164,925 523 741 2,702 12,631 14,378 11,293 31,951 10,597 20,531 25,108 4,538 4,785 25,147
Notes and accounts receivable less reserve .... 156,529 514 946 3,922 16,954 16,903 18,574 19,908 8,649 15,740 21,955 8,793 6,051 17,620
Invetitories ................................... 95,846 66 648 1,224 4,159 6,209 5,747 10,549 6,015 9,266 22o915 1,163 11,783 16,102
lnves~tments ................................... 145,363 63 436 1,119 3,553 6,294 7,754 18,409 9,443 18,778 15,550 10,629 4,020 49,315
Capital assets less reserves .................. 602o697 1,789 4,402 14,530 54,325 59,790 58,(Yl 94,882 46,308 68,599 1.25,345 7,765 36,958 29,963
Accounts and notes payable .................... 1.36,030 1,205 2,460 4,002 18,283 21,433 21,291 17,168 6,663 9,824 26,128 2,317 3,281 1,975
Bonds and mortgages payable................... 86,763 1,474 885 3,172 7,265 13,572 8,720 9,548 8,458 19,414 14,255 - -
Capital stock................................. 315,924 1 956 4 224 10,378 32,620 24,732 26,565 60,682 19,964 27,821 55,557 1,250 24,000 26,175
Surplus and undivided profits ................. 586,244 11:932
, 1433 4 434 28 137 39 925 ",961 80,398 41,933 70,478 106,477 28,697 31,396 111,773
.Gross sales and gross receipts from operations 1,147,963 5 781 10,606 26,899
' 105:017 122o487
' 122,694 1.57,966 84,440 117,884 214,876 41,265 55,468 82,580
Total compiled receipts ....................... 1,168,686 5,798 10,634 27,498 '1017,134 124,817 124,503 161,659 86,139 120,460 218,033 42,635 55,834 83,542
Cost of goods sold and of operations .......... 677 756 3 624 7 296 15,281 63,028 79,136 76,124 99,944 55,630 74,698 123,145 28,944 29,922 20,984
Compiled net profit or net lose ............... 114:842 1270 1137 847 4,600 5,632 6,380 1.3,255 7,177 1.3,864 25,047 3,731 4,682 30,034
Net income or deficit ......................... 114,663 1270 1137 947 4,600 5,631 6,374 13,249 7,173 13,S43 24,908 3,731 4,680 ~30,034
Total tax ..................................... 59,289 58 1.37 467 2,341 2,846 3,776 6,593 3,403 7,104 12,780 1,781 2,394 15,609
oina stock .................................... 46,603 42 138 228 745 1,510 1,739 - 4,910 1,733 3,20`7 7,751 230 6,000 18,370
CONSTRUCTION
Number of returns with balance sheets ......... 33,700 10,051 5o373 5,590 3,001 1,478 858 252 114 48 .10
61~
(A-.-d doll...
Cash............................. I ............ loO74,456 l8o568 27,193 58,922 154o454 146,057 142,689 182,941 112,964 92,352 67,927 45,784 22ol99 2,406
Notes and accounts receivable less reserve .... 3,694,274 37o582 73,913 160,848 454o950 462,017 475,571 600,977 463,729 373,271 345,963 181,999 60,825 2,629
Inventories ................................... 986,226 12,168 31,424 62,749 153,967 137,660 132,723 159,683 72,774 45,930 50,388 8,664 17,904 192
Investanents................................... 788,666 4,308 7,706 11,9" 47,622 57,395 56,470 106,572 75,320 82,70$ 95,399 42,289 47,474 153,559
Capital assets less reserves .................. 1,437,734 27,942 47,231 89,279 239,405 196,728 169,943 187,523 114,125 131,114 152,833 55,015 20,784 5,912
Total assets-Total liabilities ............... 8,254,171 107,533 196,333 400,618 1,092,782 1,044,010 1,016,539 1,301,928 888,173 782,169 734,501 339,867 180,407 167,311
Accounts and notes payable .................... 2,302,203 50,524 73,694 135,327 377,222 355,003 327,"3 383,038 226,571 163,473 108,326 73,031 25,194 3,357
Bonds and mortgages payable ............... .... 630,589 13,855 16,077 29,517 84,524 67,777 54,418
49,032 43,776 55,789 110,033 55,320 1,4,910 35,561
Capital stock................................. 1,21.5,650 48,798 61,043 97,455 222,260 176,085 131,715 153,287 1 88,142 73,377 67,379 25,098 49o743 21,268
Surplus and undivided profits ................. 2,188,931 120,888 19,942 89,865 256,135 258,782 280,297 362,031 1.23,480
210,721 207,308 216,949 78,096 106,213
Gross sales and gross receipts from operations 16,941,862 541,610 649,206 1,165,6G3 2,870,023 2,496,586 2,147,036 2,420,377 1,345,560 1,361,876 982,840 727,200 196,434 37,511
Total compiled receipts ....................... 17,214,823 5", 686 653,774 1,174,973 2,896,611 2,325,70`7 2,175,186 2,463,850 1,368,035 1,397,403 1,03.2,253 738,693 220,558 43,0914
Cost of gooda sold and of operations .......... 14,314p667 418,177 509,660 925,464 2,354,123 2,lQ3,101 1,822,062 2,094,907 1,179,013 1,212,718 S43,266 647,197 170,255 34,734
Compiled net profit or net loss ............... 482,548 18,282 3,446 19,897 49,325 56,994 64,361 80,487 53,634 51,965 55,820 32,926 18,865 3,110
Net income or deficit ......................... 482jO94 18,282 3t427 19,895 49,312 56,943 64,292 80,386 53,585 51,858 55,798 32,905 18t865 3,110
Total tax ..................................... 252,254 1,490 4,267 9,227 24,602 28,222 32,611 ",352 29,258 27,346 26,639 15,876 8,364
own stock .................................... 74,599 109 606 1 1_515 3,628 _ 6,573 8_256 12,122 7,202 7,690 12 7-85 6-102 6,820 1,191
01
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data." -4
rD
11bla L-SELAICTED ASSM LI4BRJTlZ8, RECEIPTS. AND COSM TOTAL TAX, AND DFVMRNDS, PAID, BY SIZE OF TOTAL ABB M By MAJOR INDUSTRIAL GROUP-0ond ..d

IkJor industrial group, selected items Under $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,100
.r $1,=e,"r *1,000,1 $25,000,00D *50,.,. 000
Total under under under under under under *',und , under under under under
, sm 000
$25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 000 000 410,000,000 $25,000,000 $M,0UU,0CC $100,OW,OW $250 000,000 .'.a
(15)
TDIAL MANUFACTURING
Number of returns with balance sheets ......... 115,820 22,717 15,606 18,954 24,330 13,234 8,636 6,537 2,590 1,432 999 201 124 91
(7h--d d.11... )
Cash.. ........ 15,745,280 36,715 70,730 174,363 473,946 565,690 758,341 1,226,660 1,056,817 1,162,81.3 1,643,947 1,278,900 1,357,171 i'AM'373 4,450,794
Notes ;u~ .... 27,767,062 65,551 134,100 335,577 922,605 1,037,960 1,261,417 1,951,659 1,615,337 1,722,329 2,439,960 2,088,824 2,081,231 3,054,127 9,056,385
Irrientories ................................... 39,872,109 50,776 109,940 295,643 923,539 1,223,265 1,585,521 2,776,446 2,446,026 2,599,480 4,067,657 3,064,728 3,373,384 4,855,423 12,500,281
Investment ................................... 28,729,679 5,7017 15,741 45,541 189,736 266,291 435,099 873,111 901,946 1,138,328 1,828,691 1,66,2,6&1 2,011,742 3,024,149 16,331,693
Capital "sets less reserves .................. 65,363,516 92,623 207,990 460,310 1,257,872 1,394,787 1,806,697 2,979,681 2,737,852 3,183,957 4,933,830 4o523,643 5,059,343 6,160,378 30,564,553
Total meets-Total liabilities ............... 181,890,701 269,300 570,986 1,373,588 3,936,088 4,668,057 6,057,707 10,150,209 9,031,124 10, 065,215 15,272,125 12,952,482 14,167,486 18,939,057 74,437,277
Accounts and notes payable .................... 22,257,481 129,901 173,866 382,924 1,007,749 1,109,966 1,223,138 1,755,643 1,293,757 1,252,088 1,672,153 1,364,731 1,494,186 2,093,799 7,303,580
Bonds and mortgages payable ................... 21,547,364 48,913 67,623 131,547 346,509 357,909 411,203 624,227 611,166 801,969 1,408,814 1,343,648 1,941,710 2,836,900 10,715,206
Capital stock ................................. 40,519,444 196,281 247,642 482,051 1,164,664 1,178,425 1,408,009 2,257,098 1,830,934 1,942.,448 2,802,822 2,501,2,43 3,041,796 4,251,943 17,212,088
Surplus and undivided profits ................. 79,384,283 1158,912 7,720 232,510 1,039,958 1,571,605 2,405,423 4,494,160 4,351,938 5,059,280 7,877,721 6,455,867 6,467,968 7,645,775 31,933,270
Gross sales and gross receipts from operations 261,214,098 91.2,257 1,517,116 3,508,745 9,412,367 10,864,403 12,927,815 20,162,324 15,894,295 15,597,436 22,576,614 17,316,929 19,405,621 2,4,733,115 86,385,061
Total compiled receipts ....................... 264,966,087 921,926 1,529,479 3,534,888 9,482,499 10,953,687 1.3,04.8,676 20,363,014 16,090,129 15o783,416 22,853,100 17,558,400 19,695,564 24,989,088 88,172,221
Cost of goods sold and of operations .......... 192,486,332 658t199 1,094,866 2,569,686 7,084,114 8,293,060 9,869,864 15,449,044 12,027,514 11,526,472 16,315,599 1.2,285,474 14,522,549 18,130,079 62,659,812
Compiled net profit or net loss ............... 18,193,508 146,855 15,361
1115o370 22,323 152,959 286,495 480,952 895,509 900,370 993,536 1,711,630 1,367,637 1,421,265 2,010,248 8,012,800
Net income or deficit ......................... 18,184,036 146,875 22,319 152,900 286,326 480,324 894,935 899,197 992,865 1,710,361 1,366,428 1,420,808 2,009,309 8,010,519
Total tax ..................................... 9,385,245 2,532 8,594 25,499 93,90`7 152,508 257,257 496,063 485,251 541,840 914,282 714,063 759,569 1,038,370 3,895,510
Dividends paid in cash and meets other than
own stock .................................... 5,817,610 3t585 3,884 10,101 34,876 47,714 76,643 166, 80 164,632 228,710 418,914 378,501 451,199 690~000 3.142,571
MANUFACTURING: BEVERAGES
Number of returns with balance sheets ......... 2,660 260 297 579 686 314 192 162 71 39 36 14 2 6 2
(7h--d d.11... )
Cash .......................................... 397,820 312 739 2,884 9,846 12,008 15,394 28,660 23,511 41,608 50,115 56,956 3.3,523 93,515 48,749
Notes and accounts receivable less reserve .... 552,069 653 1,083 4,105 10,086 11,848 13,045 31,486 28,423 24,088 63,147 86,824 15,267 67,751 194,263
Inventories ................................... 1,108,390 584 1,811 6,779 16,050 15,439 21,030 47,509 51,789 40,657 113,800 1", 978 43,376 303,153 301,435
Invest-ts ................................... 470,974 - 340 1,207 5,373 5,824 11,289 14,780 14,337 29,785 65,939 33,793 9,274 181,303 92,730
Capital assets less reserves .................. 1,420,116 1,479 6o277 24,118 55,423 57,178 65,501 116,460 ix, 119 122,915 227,309 209,918 57,089 251,946 104,384
Total assets-Tortal liabilities ............... 4,097,844 3,319 11,549 42,792 106,964 108,725 132,441 258,699 251,645 276,372 540,521 558,732 141,256 914,530 750,299
Accounts and notes payable .................... 502,030 1,704 4,348 9,052 23,765 23,979 20,531 41,440 34,091 16,451 66,063 86,105 6,411 1-51,194 16,896
Bonds and mortgages payable ................... 632,968 "7 2,051 8,347 15,276 13,780 12,547 19,002 24,146 16,953 65,905 93,283 21,761 190,354 149,116
Capital stock ................................. 665 50 5 048 '5,702 17,454 35,617 24,470 27,495 50,329 43,157 43,665 92,052 71,154 16,683 85,441 147,234
Surplus and undivided profits ................. 1,888:2751 14:428 1,324 5,630 24,616 36,815 60, " 124,255 126,408 171,597 266,306 267,896 86,908 334,685 388,032
Gross sales and gross receipts from operations 7,311,693 9,972 25,629 77,324 180,071 185,391 216,820 454,358 408,252 505,669 1,005,644 1,015,609 201,052 1,0`76,772 1,949,130
Total compiled receipts ....................... 7,362,970 10,098 25,919 78,284 182,094 188,208 220,191 459,918 412,997 5O9o931 1,010,550 1,023,136 202,004 1, 083, 065 1,956,585
Cost of goods sold and of operations .......... 4,654,189 5 882 15,911 46,944 110,583 IC)9,010 120,094 245,377 209,199 230,259 510,678 429,675 72,712 800,066 1,747,799
Compiled net profit or net loss ............... 341,799 '290 430 792 3,733 7,036 11,569 15,791 24,262 31,942 75,071 42,200 7,994 57,723 64,406
Net income or deficit ......................... 341,324 1290 1430 792 3,733 6,964 11,568 15,768 24,239 31,860 75,065 42,171 7,955 57,523 64,406
Total. tax ..................................... 188,818 is 144 750 2,143 3,710 5,666 11,666 12,709 17,116 37,880 24,151 4,116 34,661 34,088
Dividends paid in cash and assets other than C12
own took .................................... 120,709 231 944 2,593 2,251 3,342 5,690 8,118 8,123 13_954 11,426 4,278 38,595 21.164
MANUFACTURING: FOOD AND KINDRED PRODUCTS

Number of returns with balance sheets .......... 9,791 1,250 1,241 1,390 2,317 1,442 980 737 260 120 81 25 14 3
(7h-.-d d.11 ...
Gash .......................................... 1,224,206 2,318 5,527 10,010 41,334 53,906 64,647 116,850 93,099 86,293 110,171 93,178 166,897 174,22.3 205,753
Notes and accounts receivable less reserve .... 1,920,621 2,699 7,374 18,561 65,040 95,148 105,765 192,770 137,696 114,838 200,283 175,918 235,186 255,996 313,347
Invent:ries ................................... 3,340,541 2,860 6,856 18,545 75,999 118,277 144,169 291,155 235,686 218,129 349,429 267,253 483,059 593,895 535,229
Investments ................................... 1,505,068 558 1,486 2,674 17,379 23,502 33,557 88,250 82,038 97,946 102,502 134,524 203,244 437,749 279,659
Capital assets less reserves .................. 4,569,630 7,745 21,842 50,507 165p942 202,137 242,797 410,271 312,460 310,863 447,656 370,369 567,537 715,398 744,106
Total assets-Total liabilities ............... 1.21928,923 17,171 45,950 104,434 380,766 510,782 613,663 1,140;721 $86,260 853,500 1,241,567 1,082,066 1,694,244 2,215,720 2,142,079
Accounts and notes payable .................... 1,975,963 7,010 16,032 32,146 97,695 129,117 135,096 232,781 169,110 1.30,788 176,190 145,444 203,01.2 227,349 274,193
Bonds and mortgages payable ................... 1,379,530 2,390 5,006 11,697 40,612 44,873 55,307 92,314 74,490 82,108 105,989 87,388 206,309 189,448 381,599
Capital took ................................. 3,330,764 17,380 21,116 38,334 118,573 135,533 148,190 259,855 208,290 194,958 243,406 30`7,397 408,067 725,964 503,701
Surplus and undivided profits ................. 5,161,797 111,975 822 12,046 97,056 161,462 224,973 466,402 364,267 372,308 620,778 450,468 702,812 875,301 826,721
Gro a sales and gross receipts from operations 36,336,042 70,386 176,487 390,881 1,288,025 1,800,760 2,089,939 3,837,883 2,621,532 2,097,988 3,027,485 2,500,357 3,882,510 4,571,994 7,979,81.5
Tot:1 compiled receipts ....................... 36,553,205 70,933 178,350 392,997 1,296,458 1,809,081 2,100,094 3,858,765 2,637,446 2,115,647 3,050,203 2,518,245 3,911,911 4,610,445 8,002,740
Cost of goods sold and of operations .......... 29,799 118 52,778 138 1 235 319,122 1,044,3?6 1,481,671 1,712,845 3,197,237 2,164,739 1,654,389 2,435,136 1,939,086 3,070,960 3,560,988 7,027,556
Compiled net profit or net loss ............... 1,212'1656 '2,250 713 495 1.3,554 26,923 44,285 91,369 75,299 70,249 117,807 108,958 183,659 305,929 177,092
Net income or deficit ......................... 1,211,715 12,250 171.3 495 13,552 26,920 44,214 91,318 75,265 70,209 117,353 108,935 183,641 305,724 177,052
Total tax ..................................... 637,457 169 759 1,248 7,664 14,135 22,821 47,632 38,659 37,196 60,320 55,892 97,%8 157,781 95,613
own stock .................................... 354,272 38 250 367 3,372 5,146 7,440 16, 04.2 1 1.2,402 16,984 26~651 30,964 63,OD8 102,791 68,817
See footnotes at end of table. See text for explanatory statements and for "Description of the Semple and Timitations of Data."
Table C-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDL1STRIAL GROUP-C-.ti..ad
Major industrial group, selected items $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $lOO,ODO,OOO
Under $250,000,000
Total =der000 $100,000
under under under under under under under under under under under
$25,000 or more
$501 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50:000,000 $100,000,ODO $250,000,000
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
MANUFACTURING: TOBACCO MANUFACTURES
Number of returns with balance sheets ......... 169 - 53 15 21 12 is 4 5 5 3 3

(7h-...d d.11...
Cash.. 117,965 (2 955 487 1,322 1,671 6,353 2,282 4,364 15,019 24,566 60,934
Notes re.ei able less reserve ......
.... 535,597 2) - 1,419 1,033 2,378 5,668 8,596 13,641 8,461 13,364 43,289 437,539
Inventories ................................... 1,925 229 2) 3,237 1,812 6,805 9,894 28,322 9,527 33,773 107,556 493,189 1,231,106
76,793 2)) - 546 188 1 209 1 557 3 966 844 16 577 5,294 19,675 26o937
Investmants, ,
Capit 81 ass*'***l'es'*
at. 2 -
s"r*e*s*e'~"e*s"***.*'.".***."..'.*', 209 693 1,276 1,539 311578 2,964
1 8 557 2,006 7 892 23,324 49,025 109,476
Total as eta-Total liabilities ............... 2,896:230 2) 7,583 5,355 15,733 22,229 59,669 28,751 74,369 169,403 638,496 1,874,352
Accounts and notes payable .................... 487,591 (2 - - 3,446 1,023 4,948 5,613 13,552 4,791 1.3,855 12,910 161,037 266,416
)
Bonds and mortgages payable ................... 639,04.4 2) - 135 290 471 352 1,724 875 7,455 31,200 - 133,000 463,542
2 3,309 1 572 3 147 8 177 15,112 9,968 24,696 57,606 90,098 510,898
Capital stock ................................. 724,728
Surplus and undivided profits ................. 2 - 46 2 140 61484 6 986 25,594 11,172 24,601 60,012 207,794 487,882
832,855
Gross sales and gross receipts from operations 3,642,894 2) 13,488 15,878 37,766 28o464 73,473 67,816 51,950 168,079 - 755,319 2,430,354
Total compiled receipts ....................... 3,650,841 2) 13,683 15,983 38,066 28,647 74,052 68,012 53,443 169,787 756,157 2,432,704
,
Cost of'goods sold and of operations .......... 2,020,654 (2 - - 10,136 1.3,110 31,585 20,092 55,052 52,477 27,772 108,885 - 446,404 1,254,914
315,679 2))) 116 756 781 1,750 5,723 14,854 228,991
Compiled net profit or net loss ............... 213 3,596 58,902
2 -
Net income or deficit ......................... 315,625 116 213 756 781 3,595 1,750 5,698 14,835 58,902 228,982
2) -
Total tax 164,265 124 98 363 541 2,112 1,393 2,772 7,611 30,538 118,713
Dividend paid in cash and assets other than
101,846 (2) 82 59 180 280 744 128 2,549 5,729 - 12,628 79,467
oln sto:k ....................................
MANUFACTURING: TEXTILE-MILL PRODUCTS
Number of returns with balance sheets ......... 544 444 699 1,083 719 545 553 256 138 73 30 19 5 3
(7h...-d d.11...
.t
Cash 687,081 704 2,518 6,691 18,565 27,710 36,024 81,631 79,233 79,281 92,375 70,21-3 72,650 54,129 75,357
a. so. ............................
raceivable less reserve.... 1,391,695 1,669 3,955 12,817 40,394 49,083 74,241 156,737 145,944 163,403 166,631 158,841 163,918 109,088 144,974
Inventories ................................... 2,325,268 1,591 3,174 10,206 42,543 73,822 114,447 260,106 238,492 275,223 361,853 300,930 299,313 152,079 191,489
Investments
Capital 005,951 153 120 1,101 5,661 11,071 26,363 78,680 86,867 102,708 96,953 124,454 216,304 164,081 91,435
asset.
... less reserves .................. 1'
3,029,322 2,636 6,046 18,259 62,151 85,522 125,817 294,032 318,619 340,215 347,527 374,647 459,413 210,593 383,845
Total assets-Total liabilities ............... 8,623,017 6,975 16,558 51,197 174,927 256,448 389,123 995,816 891,113 978,993 1,077,877 1,050,880 1,231,853 700,581 900,686
Bonds and mortgages payable ................... 736,935 864 1,753 5,972 17,368 18,083 23,309 43,303 44,596 42,418 97,808 84,597 114,589 24,500 227,775
Capital stock ................................. 2,095,626 5,954 5,997 15,876 49,024 70,397 103,767 230,783 210,645 249,018 254,743 237,473 326,266 133,571 202,112
Surplus and undivided profits ................. 4,108,533 15,399 315 9,925 40,496 73,538 146,178 392,870 449,797 517,207 545,930 587,745 535,379 428,273 386,279
Gross sales and gross receipts from operations 11,585,975 28,557 49,023 130,264 431,638 563,536 781,440 1,528,635 1,306,714 1,362,012 1,445,793 1,181,698 1,184,811 851,479 740,375
Total compiled receipts ....................... 11,708,186 28,713 49,450 131,266 434,553 569,439 788,564 1,545,541 1,321,413 1,374,903 1,461,322 1,197,827 1,196o631 862,004 746,560
Cost of goods sold and of operations .......... 9,557 492 20,757 37,781 98,998 347,755 463,820 652,841 1,297,721 1,106,188 1,134,241 .1,185,756 985,538 945,979 671,900 608,217
Compiled net profit or net loss ...... 313:808
, 1,328 67 970 1,529 5,037 8,617 23,420 27,605 36,446 52,147 47,351 22,042 65,133 24,772
Net income or deficit ................ :..
**:::::: 313 152 11 1,328 67 970 1,529 5,037 8,606 23,355 27,541 36,367 52,124 47,288 22,014 64,814 24,768
Total tax ..................................... 223,986 43 279 744 3,414 5,951 9,528 21,643 24,117 28,001 35,237 25,818 24,171 32,564 12,476
ovn stock .................................... 141,261 a 4 502 831 1,213 _2, 8,969 11,230 16,034 17,442 17,284 19,501 25,571 19,757
MANUFACTURING: APPAREL AND PRODUCTS MADE

FROM FABRICS
Number of returns with balance sheets ......... 13,076 3,397 2,058 2,397 2,693 1,306 671 389 98 25 2 2 - -
(7h... d d.11...
7,-546,
Cash 420,130 11,957 25,122 58,793 59,570 b2,595 74,167 36,347 24,964 41,938 4,468 12,663
Note. cc race ivable less reserve.....
.... 931,113 10,479 22,316 56,983 144,323 141,563 142,423 157,240 83,643 53,019 87,920 11,284 19,920
Inv ntorie ................................... 1,229,241 6,683 16,702 48,855 141,611 162,127 170,843 234,646 137,209 96,640 156,256 13,942 43,827
Inv:st.ents ................................... 250,122 1,216 3,462 5,414 21,349 23,287 30,676 43,056 27,158 28,966 42,165 20,593 2,780
Capital assets less reserves ......... ........ 432,739 10,436 16,232 30,842 54,421 48,096 43,857 62,467 35,633 35,389 49,597 11,569 34,200 -
Total assets-Total liabiliti........ : ........ 3,369,864 40,038 74,548 174,554 435,074 449,569 467,087 589,974 331,074 244,327 384,502 62,486 116,631
Accounts and notes payable .................... 944,905 15,182 22,477 59,392 147,745 159,103 159,353 169,889 83,050 46,3G6 66,525 10,092 5,791 -
Bonds and mortgages payable ................... 192,053 5,076 5,681 10,026 20,543 19,934 18,747 24,940 16,434 19,450 33,347 6,675 11,200
Capital stock ................................. 876,537 29,472 31,467 65,654 125,793 120,530 120,766 133,132 69,479 56,019 8lo747 6,027 36,451
Surplus and undivided profits ................. 1,049,046 123,226 4,024 16,824 95,583 109,873 133,170 212,117 132,368 99,691 175,091 37,504 56,027 -
Gross sales and gross receipts from operations 8,775,566 250,399 295,220 622,950 1,432,302 1,391,982 1,244,028 1,455,394 726,970 451,024 640,669 70,750 193,878
Total compiled receipts ....................... 8,823,872 251,538 296,022 624,078 1,436,593 1,397,902 1,250,295 1,463,156 731,408 455,494 645,241 71,570 200,575 -
Cost of goods sold and of operations .......... 7,028,408 198 981 231 093 485 341 1,148,869 1,123,775 1,03.3,197 1,175,901 575,518 358,813 494,143 60 899 161,878 -
Compiled net profit or net loss ............... 1461 999 18'1848 14,250 1 288 9,084 16,720 18,733 35,313 23,468 18,466 32,697 1459 6,363
Net income or &ficit ......................... 146,947 18,848 14,250 1288 9,082 16,714 18,728 35,309 23,449 18,464 32,683 1459 6,363
To a 90,618 277 goo 2,198 6,610 8,720 10,267 18,966 12,621 9,344 16,742 735 3,238
Divide
t 1 tax
nds-paid-in-;W;~;*. as 0 r
oen stock .................................... 30,910 52 464 262 1,227 1,488 3,130 4,776 3,930 3,433 6,444 1,801 3,903 1
Cn
See footnotest at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data. to
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Table B.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID,
BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued

Major industrial group, selected Items $25,000 $50,000 $100,000
Under $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $lOO,ODO,OOO
Total $25,000 under under under under $,,under 2,under , under $10 under $25,000,Wo
under $250,000,OC)O
under under under
$50,000 $100,000 $250,000 $500,000 000,000 500,000 $5 000,000 OOO,OC)O or more
$50,000,000 $100,000,000 $250,000,000
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
MANUFACTURIWG: PRINTING, PUBLISHING, AND
ALLIED INDUSTRIES
Number of returns with balance sheets ......... 13,410 3,827 2,222 2,387 2,514 1,063 640 157 85 63 22 4 3
( n--d d.11...
Cash .......................................... 745,500 5,936 11,470 25,932 59,200 55,675 63,125 94,425 73,217 76,820 117,456 90,146 50,763 21,335
Not a and accounts receivable less reserve .... 1,079,248 12,119 19,479 41,042 91,324 79,323 87,824 115,903 94,404 107,741 143,884 169,436 41,086 75,683
InvIories ................................... 690,334 4,223 8,249 15,914 49,307 52,039 63,176 88,541 81,151 85,063 105,723 83,276 32,091 21,581
Investments ................................... 1,028,404 1,211 2,705 9,239 30,665 40,195 53,424
capital assets less reserves .................. 100,952 90,806 95,086 183o582 146,831 106,253 167,455
1,981,528 16,146 32,588 66,368 144,815 127,135 155,785 208,377
Total assets-Total liabilities ............... 192,561 205,420 335,919 282,705 68o934 124,775
5,806,978 42,994 80,435 168,477 399,023 378,372 445,323 640,283 564,738 597,080 933,050 802,523 336,787 417,893
Ace ounta and notes payable .................... 779,535 27,200 16,735 35,951 80,525 67,228 63,517 76,456 61,987 69,691 90,828 72,286 47,422 69,709
Bonds Bud mortgages payable ................... 448,332 8,152 1.3,262 16,467 31,227 35,934 34,210 38,115 48,192 50,843 79,246 64,679 9,142 18,863
Capital stock ................................. 1,216,649 123,901 29,958 54,565 105,775 83,980 89,525 137,203 93,835 95,422 166,791 163,821 77oO52 94,821
Surplus Bud undivided profits ................. 2,552,163 23o986 8,561 43,274 138,273 144,692 202,077 303,388 271,684 299,820 458,070 356,101 169,274 180,935
Gross sales and gross receipts from operations 8,594,829 134,951 183,675 385,065 789,871 694,421 757,043
Total compiled receipts ....................... 1,000,947 801,366 848,322 1,138,253 1,065,563 434,503 360,849
8,764,906 137,913 185,447 387,923 798,515 703,955 769,070 lo024,805 821,787 863,882 1,162,437 1,098,354 445,422 365,396
rest of"goods sold and of operations .......... 5,939,915 86,205 113,091 254,474 527,457 457,974 505,278 679,574 549,971 604,605 775,953 751,622 3017o532 326,179
Compiled net profit or net loss ............... 570,401 6,124 1,968 9,924 26,826 32,180 48,837
1 79,247 61,131 67,167 125,778 81,944 29,435 12,088
Net income or deficit ......................... 569,964 16,124 1,968 9,921 26,811 32,161 48,805 79,138 61,091 67,115 125,631 81,942 29,435 12,070
Total tax ..................................... 287,760 474 1,370 4,320 11,424 14,888 22,628 40,048
Dividends paid in cash and assets other than 31,413 34,443 66,284 41,839 12,626 6,003
own stock .................................... 140,132 219 591 1,895 7,445 6,711 8,979 18,016 11,571 15,579 32,042 25,004 6,658 5,422 -
MANUFACTURIW,: CHEMICALS AND ALLIED PRODUCTS
Number of returns with balance sheets ......... 6,993 1,744 920 958 1,375 672 537 367 155 101 76 32 28 1 18 10
7he..-d &11..
.a. .................... 1,417,016 2,136 3,996 10o579 28,172 32,296 48,267 72,150 72,311 92,186 128,251 88,886 198,373
ble less reserve .... lo932,044 3,452 7,221 16,570 210,205 429,208
49,205 55,464 78,701 108,636 97,583 134,489 174o374 .150,723 251,658 258,014
Inventories ................................... 2,918,965 4,182 8,296 15,106 50,694 545,954
55,172 89,218 136,351 129,415 148,788 250,006 199,321 333,082 575,224 924,110
Investments ................................... 3,382,663 441 909 2,631 11,621 16,081 37,267 53,280 62o532 89,972 119,852 175,085 303,365 321,118 2,188,509
Capital assets less reserves .................. 6,646,404 4,429 9,900 -20,017 69,612 72,737 114,409 169,152 166,663 247,499 443,590 449,911 822,937 1,180o398 2,875,150
Total assets-Total liabilitie................ 16,628,583 15,779 32,745 68,579 224,653 242,098 380,538 561,726 547,651 727,727 1,146,035 1,085,261 1,953,712 2,586,387 7,055,692
Accounts and notes payable.. .................. 1,327,510 12,112 11,212 14,129 47,276 50,384 69,924 79,638 66,429 72,610 112,108 76,901 141,630 195,2U 377,895
Bonds and mortgages payable ................... 2,480,634 3,227 3,576 4,619 l5o570 21,378 25,671 36,295 42,424 75,418 152,65~ 84,487 373,879 487,441 1,153,990
Capital stock ................................. 3,565,580 16 732 17,105 27,106 76,707 66,319 97,517 141,515 108o337 158,374 212,617 245,249 447,487 600,381 1,350o134
Surplus and undivided profits ................. 7,550,744 119:843 12o399 16,344 67,265 84,507 155,848 249,810 270,704
Gross sales Bud gross receipts from operations 361,408 553,988 592,874 829,453 1,006,232 3,384,553
IS 476 857 34 687 76 299 152,844 476,275 545,219 757,712 1,014,102 955,500 996,448
Total compiled receipts ....................... 1,462,251 1,163,969 1,999,481 3,017,133 5,824,937
18,878,113
, , 35:505 77:247 154,237 '480,912 550, 10`7 764,096 1,025,164 965,409 1, 009, 5" 1,484,778 1,185,048 2,030,791 3,050,253 6,065,022
rest of goods sold and of operations .......... 11,608,671 22 501 50 746 99,681 333,806 391,112 542,575 702,871 639,107 659,130 917,198 679,380 1,266,701
Compiled net profit or net loss ............... 2,213,153 15:268 f365 4,571 1,942,907 3,360,956
12,841 17,772 32,267 59,739 79,865 79,756 152,81-3 163,557 200,332 270,662
Net income or deficit ......................... 2, 212, 50`7 15,268 1365 4,571 12,829 1,144,611
17,768 32,229 59,695 79,834 79,707 152,670 163,497 200,193 270,626
Total tax ..................................... 1,097,060 112 548 1,771 5,694 8o873 1,144,521
Dividends paid in cash and assets other than 16,319 31,001 40,841 43,231 81,503 81,315 103,581 141,761 540,510
own stock .................................... 818,306 11 967 844 2,OaO 3,321 7,153 13,403 14,710 19,604 36,501 42,150 75,637 86,796 515,119
MANUFACTURING: PETROLEUM AND COAL PRODUCTS
Number of returns with balance sheets ......... 705 70 80 75 137 77 73 68 24 33 19 17 7 6 19

(7h w,md dell-,
Cash .......................................... 1,641,375 154 362 476 3,384 3,478 8,189 12,313 7,245 24,373 27,699 69,171 51,555 82ol59
Notes and accounts receivable less reserve .... 3,157,140 75 752 1,153 4,020 6,999 1,350,817
Inventories ................................... 10,986 21,426 15,339 40,670 36o937 73,044 40,914 107o051 2,797,774
2,599,989 166- 363 750 2,921 4,705 8,300 17,481 17,299
Investments ................................... 45,578 59,719 92,984 49,634 157,749 2,142,340
6,835,548 20 464 292 380 1,461 2,758 8,214 4,200
Capital assets less reserves .................. 22,612 29,254 41,790 76,287 169,923 6,477,893
13,999,259 486 726 2,542 9,696 9,906 21,836 42,044 34,883 113,001 140,501
Total asaets-Total liabilities ............... 28,812,881 290,356 206,477 486,062 12,640,743
936 2,732 5,481 21,480 27,520 53,689 103;M 81,086 250,447 302,702 574,724 430,800 1,027,449 25,929,956
Ace ounts and notes payable.................... 2,864,783 541 458 2,371 4,296 7,685 9,222 22,526 16,058 50,183 57,081
Bonds and mortgages payable ................... 4,121,923 726 101 102,930 44,868 146,774 2,399,790
1,145 2,993 1,308 6,701 24,465 9,548 47,747 74,145 130,023
Capital stook ................................. 8,064,153 982 978 1,711 60,696 141,203 3,621,122
5,834 7,832 10,249 22,779 19,322 39,089 44,492 87,01-5
Surplus and undivided profits ................. 12,590,892 '1,802 901 20 85,608 204o687 ?,533,575
7,042 8,387 22,026 25,965 30,854 95,490 113,110 213,492 210,71.3
Gross Bales and gross receipts from operations 26,414,104 2,575 6,008 12,866 475,853 11,388,841
43,116 66,841 119,985 189,968 162,586 479,389 635,280 671,496 389,198
Total compiled receipts ....................... 27,373,374 2,584 6,030 1.2,887 43,535 1,129,620 22,505,176
67,646 120,927 191,495 163,838 484,553 642,219 684,214 412,751 1,140,910 23,399,785
Cost of goods sold and of operations .......... l9o845,035 2 239 4,250 10 322 33,687
Compiled net profit or net loss ............... 1 616 53,203 93,145 154,789 133,025 405,481 557,747 537,985 284,040 784,476 16,790,646
1,594,724 30 1 755 636 2,00
Net income or deficit ......................... 4,738 11,666 4,087 13,363 12,501 30,577 42,344 63,264 1,424,178
1,593,Z44 1616 30 1755 636 2,039 4,738
Total tax ..................................... 11,669 4,087 13,360 12,479 30,577 42,334 63,248 1,422,756
633,831 1 44 64 506 958 2,696
Dividends paid in cash and assets other than 2,841 3,084 8,172 7,283 16,340 17,209 31,976 542,657
own stock .................................... 1,027,662 11 66 206 199 830 1,173 1,547 3,633 3,511 6_124 14,124 39,485 956,753
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Date. 11
DIVIDENDS PAID. BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Costinuod
T.bi. 6.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX. AND
selected items $25,000 $50,000 $100,000 $250,000 $500,000 1$1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $lOO,ODO,OOO $250 000 000
Ikjor industrial group, Und under under under under Under I I
under
$50,000 $100,000
under $250,000
under *5W,OOO
under $1,000
under und under $250,OOC),OC)o or so,,
Total or $21,000,00) $50,000,00D $100,000,000
$25,000 1000 1$2,.'ODO $5
(7) (8) (9) (10) (13) (14) (15)

(1) (2) (3) (4) (5) (6)
MANUFACTURING: RUBBER PRODUCTS
95 92] 147 92 63 1 76 30 19 12 5 1 4
Number of returns with balance sheets. ........ 752A 115
(7h--d d.11...
2,717 41469 6,830 14,663 10,186 12,839 16,019 11,327 5,010 7,755 115,672
209,268 252 436 1,()93
Cash .......................................... 6,103 6,670 10,424 26,786 27,552 20,286 35,632 29,486 12,398 28,439 527,854
484 1,438 2,362
Notes and accounts receivable less reserve .... 735,914
1,160 5,082 7,123 8,9017 27,360 25,581 28,102 58,186 52,444 17,995 34,329 557,456
......... 824,465 206 534
Inventori as ......................... : ......... 203 72 657 1,057 3,000 9,008 9,717 11,402 12,166 12,207 7,226 16,352 232,446
Investments ......................... 315,555 42 32,655 465,467
727 2,070 9,343 11,978 13,994 45,045 40,218 49,791 69,316 42,570 15,112
Capital assets less reserves .................. 798,978 692 58,694 119,959 1,909,113
1,798 3,394 6,872 24,647 32,299 44,792 126,826 13-5,049 125,270 193,914 149, T71
Total assets-Total liabilities ............... 2,912,388
6,559 8,450 7,821 26,019 21,309 17,01-3 38,650 26,771 3,41.3 35,713 14-1,231
337,726 450 1,275 3,052
Accounto and notes payable .................... 3,588 5,291 11,431 4,787 22,537 29,250 8,212 27,600 472,502
592,239 80 372 1,627 3,253 1,709
Bonds and mortgages payable ................... 8,743 25,183 17,451 17,126 25,503 28,659 15,000 21,126 282,055
457,766 1,059 1,515 1,308 5,360 7,678
Capital stock ................................. 11,409 19,996 56,536 55,389 68,781 91,245 55,155 29,251 32,013 788,432
Surplus and undivided profits.. ............... 1,215,524 75 61 134 7,047
70,567 94,828 299,154 1T7,499 257,880 352,196 213,642 82,402 150,825 2,729,L34
Gross sales and gross receipts from operations 4,521,686 5,630 7,558 20,906 59,465
70,957 95,309 300,479 178,910 258,500 354,582 214,669 82,929 152,413 2,783,634
Total compiled receipts ....................... 4,586,770 5,673 7,676 21,188 59,851
50,924 69,780 232 378 137,592 196 029 265,554 157,308 44,357 118,221 1,933,923
Coat of goods sold and of operations .......... 3,274,813 3,616 5j506 16,047 43,578 218,407
105 1,520 3,153 5,167 13:494 9,815 14,554 18,968 5,137 6,827 783
297,228 180 882
Compiled net profit or net loss ............... 1,520 3,151 5,167 13,489 9,813 14,554 18,968 5,135 6,827 783 218,4017
Net income or deficit ......................... 297,217 180 1882 105
1,644 2,713 7,486 4,978 8,552 9,768 3,530 3,544 372 109,220
Total tax ..................................... 153,051 57 8 416 763
Dividends paid in cash and assets other than - 442 654 2,871 2,218 4,445 4,906 3,347 723 3,018 61,721
84,608 116 147
own stock ....................................
MANUFACTURING: LEATHER AND PRODUCTS

43 23 13 1 2 1 -
2,443 410 265 391 541 358 248 147
Number of returns with balance sheets .........
(7~-d &11 ...)
153,086 790 1,773 3,827 10,640 13,860 19,612 25,747 16,259 15 29 254 6,445 6,983 2,996
Cash .......................................... 48,054 55,397 30,597 34:907 34:028 11,476 35,166 36,540
362,883 1,634 2,648 7,960 26,784 37,621 ,)81
Notes and accounts
Inventwiss receivable less reserve ....
................................... 44,609 65,583 76,249 52,756 58,941 60,262 11,950 44,863 54,059
513,062 1,257 2,896 9,295 30,342
6,786 12,825 20,375 24,799 18,625 22,331 12,123 26,789 41,797
192,258 14 365 1,104 4,335
Investments ................................... 19,846 24,058 29,972 25,300 25,221 32,146 2,832 29,244 21,123
231,983 1,094 1,682 5,544 13,921
Capital assets less reserves .................. 88,546 127,272 175,784 215,927 152,755 155,106 181,483 45,472 144,795 157,070
1,488,053 5,106 9,892 28,845
Total assets-Total liabilities ...............
2,818 10,241 29,019 37,370 47,103 47,538 24,925 25,111 18,153 1,228 15,556 24,250
285,047 1,735
Accounts and notes payable .................... 7,011 8,193 089 5,587 4,719 10,468 12,100 18,273 30, DOG
112,245 1,173 991 1,603 4,038
Bonds and mortgages payable ................... 25,798 32,198 39,897 51,522
8 35,383 29,992 24,449 8,521 37,908 51,DOO
355,722 3,862 4,229 10,963
Capital stock ................................. 20,748 37,258 63,422 88,996 76,896 85,383 110,170 22,410 67,041 42,665
Surplus and undivided profits ................. 615,759 13,122 734 3,158
86,116 271,895 370o514 456,839 514,706 257,814 236,822 279,103 80,355 222,544 195,304
Gross sales and gross receipts from operations 3,021,123 16,612 32,499
86,527 273,187 372,872 459,771 518,258 260,164 238,289 281,439 81,258 224,225 195,590
Total compiled receipts ....................... 3,04.1,0`77 16,738 32,759
376,464 417,557 211,377 184,800 208,499 62,974 178,164 143,877
2,414,095 13,280 25,372 68,869 219,704 303pl58
Cost of goods sold and of operations .......... 6,123 9,723 19,277 9,357 13,207 22,327 3,592 9,087 17,554
ill 127 1,504 344 1438 2,478
O=piled net profit or net loss ............... 1 1,50~ 2,477 6,119 9,717 19,276 9,342 13,197 22,325 3,592 9,077 17,554
ill,1078 344 1438
Net income or deficit .................... I .... 9,752 5,307 7,435 12,341 1,837 4,722 9,115
Total t............................ I ......... 60,173 30 159 296 1,304 3,145 4,730
Dividends paid in cash and assets other than 1,457 2,326 2,428 2,983 3,360 2,860 4,036 8,131
28,895 229 7 279 799
own stock ....................................
MANUFACTUBING; STONE, CLAY, AND GLASS PRODUCTS

351 258 95 68 36 20 9 a 1
4,079 627 489 526 1,019 572
Number of returns with balance sheets .........
A-.-d d.11...)
3,868 ,541 ,851 ,722 ,916 ,692 ,894 ,256 ,633 ,446 642
570 , 252 1 , 247 ,820 ,724
Cash .......................................... ,103 ,447 ,501 ,450 ,022 ,863 ,865 ,427 ,581 741 ,411 056
Notes and accounts receivable less reserve .... 743 , 574 1,838 ,269 830
,560 ,891 ,994 p657 ,755 ,535 ,550 ,785 6,573 8,745 ,221 ,200
Inventories ................................... 862 , 025 1 , 729 ,609 , 0 72
`
218 04 29 710 ,062 ,541 ,003 ,602 ,861 ,181 8,038 443
Investments ................................... 939 , 973 ,764 ,290 ,527
,830 ,693 4,346 p814 ,024 ,062 5,690 3,886 7,679 6,964 0,739
Capital assets less reserves .................. 2, 222 , 308 0,394 54,183 ,029
,088 7o987 8,422 63,264 4,087 2,906 2,402 8,923 2pO53 7,245 6,317
Total assets-Total liabilities ............... 5,456,300
,325 ,102 oO55 ,635 ,838 ,453 ,120 163
462 , 766 3,388 ,802 0,627 5,0`73 5,702 ,483
Accounts and notes payable.................... ," ,477 ,171 ,765 ,845 ,301 ,211 ,320 730
498 , 362 23 ,304 ,111 2,622 ,103
Bonds and mortgages payable ................... ,533 3,263 ,916 0,441 9,416 6,096 ,879 ,650 365
1, 377 , 744 ,023 ,295 2,802 ,560 ,505
Capital stock ................................. 0,042 2,682 3,556 2,284 3,618 4,566 ,974 ,494 ,676
2, 589,781 2,786 4 ,809 ,062 ,760
Surplus and undivided profits ................. ,854 ,728 ,968 954 1 456,259 52,388
18,413 8,948 ,145 0,416 4 178 ,280 ,877 ,028
Gross sales and gross receipts from operations 6,517,436 443,755 515,799 623,835 785,975 644,152 1;487,867 355,308
6,613,660 18, 570 39 , 324 77 , 091 293, 958 348,1 231 398 , 513 581, 282
Total compiled receipts .......................
..........
,460
02,635 ,44,401 8,162 8,322 ,277 ,851 321 ,187 ,569 ,319
Cost of goods sold and of operations 4, 239 , 851 12 j 121 8 051 3,175 828 ,018 030
790 969 911 410 85 029 ,685 ,279 ,791 ,598 ,690 9',1169 ,788
Compiled net profit or net loss ............... ,977 ,755 ,568 ,683 146 5,774 ,824 2,003 030
790, 535 1911 410 85 ,026 6,685
Net income or deficit ......................... ,706 ,572 ,952 ,630 ,447 ,102 ,651 3,795 547
404,326 152 65 56 ,458 ,493
Total tax .....................................
Dividends paid in cash and assets other than ,406 6,739 2,249 1,660 ,701 ,135 ,7b7
216,043 50 60 65 , 062 2,795 4,020 ,194
con stock ....................................
Data."
See footnotes at end of table. See text for explanatory statements and for -Description of the Sample and Limitations of
Table O.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued
IkJcr industrial group, selected $25,000

items Under $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,~OO 1$5,M~000 r $10,000,000 $25,000,000 $50,000,000 $lD0,O0O 000
Total under =der 50,000
under under under under , unde
'000 '000,GOO
r -der under der' $250,000,000
$25,000
$50,000 $100,000 $2 $500,000 $1,000,000 $2,500,000 $5 000 1$10,000,000 $25undo $5OoOOO,OOO $100,000,000 $250,000,000 or more
(14) (15)
MANUFACTURING: PRDIARY METAL INDUSTRIES
Number of returns with balance sheets ......... 3,133 332 446 446 612 369 329 270 114 1 79 64 26 21 10 15
(7h-.-d d.11...)
Cash .......................................... 1,405,702 599 1,816 4,581 13,815 19,385 34,394 56,689 54,837 68,621 106,757 96,229 117,851 64,990 ?65,138
Notes and accounts receivable less reserve .... 1,705,254 1,033 4,118 6,409 24,436 28,306 43,207 71,579 70,408 90,029 1-37,011 98,799 173,018 204,827 752,074
Inventories ................................... 3,192,549 504 2,097 4,161 17,481 25,466 45,616 91,194 88,706 140,047 23.3,759 235,044 326,840 274,316 1,727,318
Investments ................................... 2,354,454 14 202 1,917 5,119 7,633 18,002 42,928 39o683 76,599 99,877 70,814 189,759 121,441 1,680,466
CapiLl "sets less reserves .................. 8,751,220 1,634 8,783 12,780 37,741 46,316 83,315 140,700 135,440 204,356 329,151 376,108 717,602 756,404 5,900,890
Total assets-Total liabilities ............... 17,781,799 4,207 17,492 31,632 102,415 131,672 232,353 415,929 398,035 592,429 910,733 896,205 1,565,277 1,446,845 11,036,575
Accowts and notes payable .................... 1,516,229 1,355 6,130 6,944 25,641 26,131 37,969 53,365 46,596 78,826 103,755 79,947 115,997 199,590 733,983
Bonds and mortgages payable ......... 3 100,754 890 2 640 2 461 8,272 9,132 14,117 22,835 20,362 49,284 90,574 79 239 223,464
4;098,438 387,171 2,190,313
Capital stock ....................... ::*.*.::,.:*.: 2,283 61221 10,883 24,723 31,674 54,535 101,792 78,012 95,297 174,126 140;357 394,534 299,159 2,684,842
Surplus and undivided profits ................. 7,483,697 1842 366 8,424 34,104 53,621 105,218 197,132 21.3,744 313,492 461,924 496,707 704,943 506,213 4,388,751
Gross sales and gross receipts from operations 19,538,587 11,415 38,768 69,885 239,067 302,837 452,832 808,464 718,607 829,207 1,277,810 1,098,642 1,866,953 1,737,419 10,086,682
Total compiled receipts ....................... 19,739,580 11,483 39,104 70,214 240,361 304,198 456,117 813,257 724,776 835,784 1,288,091 1,106,951 1,888,774 1,749,906 10,210,664
Cost of goods sold and of operaticuts .......... 13~965,300 8 773 27,429 53o352 187,716 244,618 358,548 646,593 569,164 646,440 962,831 840,661 1,454,383 1,381,897 6,582,895
Compiled net profit or net lose ............... 1,508,439 1659 164 48 3,808 6,548 18,099 37o547 42,906 55,893 95,525 61,071 142,764 50,078 994,647
Met income or deficit ......................... 1,508,031 '659 164 48 3,807 6,548 18,085 37,524 42,899 55,873 95,516 61,037 142,736 50,069 994,384
Total. tax ..................................... 8G6,090 26 294 567 2,981 4,377 10,841 21,673 23,168 32,301 53,524 38,121 77,621 33,898 506,686
om stock .................................... 455,342 8 50 280 2,162 1,535 3,161 S'ago 7o569 12,486 25,783 23,462 39,177 22,864 307,k5
MANUFACTURING: FABRICATED METAL PRODUCTS,
EXCEPT ORDNANCE, MACHINERY, AND TRANSPOR-
TATION EQUIPMENT
Number of returns -ith balance sheets ......... llo490 1,969 1,565 1,971 2,516 1,444 886 658 252 74
126 17 6 4 2
(?Pm.-d dull ...)
Cash .......................................... 931,484 2,823 6,227 19,419 52,105 65,783 77,371 129,218 108,311 97,713 149,180 72,017 35,36o 66,460 49,557
Notes and accounts receivable less reserve.... 1,422,990 6,301 13,864 33,392 92,324 105,740 124,370 191,107 168,472 167,538 194,754 99,665 59,630 104,716 61,117
Inventories ................................... 2,265,517 3,788 10,584 30,613 96,104 141,199 178,261 298,139 259,450 244,219 358,915 140,919 98,122 178,876 226,328
Investments ................................... 778,641 253 1,074 4,678 18,081 28,230 37, W 76,447 85,762 88,647 127,61-2 65,795 106,613 85,600 52,281
Capital assets less reserves .................. 2,533,922 10,410 22,285 49,400 136,090 148,977 185,548 296,543 231,734 248,961 333,258 166,493 125,194 169,384 409,655
Total assets-Total liabilities ............... 8,149,487 24,756 56,817 142,699 409,701 508,266 625,498 1,022,183 877,056 864,641 1,180,995 564,144 430,659 634,792 807,080
Accounts and notes payable .................... 1,097,537 11,428 17,874 36,903 96,426 105,906 110,206 145,D95 117,567 108,113 109,743 43,524 35,803 90,393 68,556
Bonds and mortgages payable ................... 590,683 10,794 5,862 15,925 33,439 33,692 36,307 53,408 44,934 61,436 68,206 33o345 37,728 30,000 125,607
Capital stock ................................. 1,849,77 116,086 25 782 50,153 115,824 124 546 130,545 224,595
f 974 173,236 144,386 211,181 116,473 75 961 175,769 265,234
Surplus and undivided profits ................. 3,779,7641 17,596 25,525 126,190 191,1968 281,454 487,807 433,499 457,866 657,724 318,895 238; 813 300,288 278,305
Gross sales and gross receipts from operations 2-3,543,144 64,345 130,029 315,741 872,371 1,001,545 1,824,830
1,223,230 1,457oC41 1,295,569 1,747,0`76 768,162 641,389 931,327 1,270,489
Total compiled receipts ....................... 1.3,692,795 64,705 131,281 318,057 879,235 1,010,232 1,232,632 1,841,425 1,473,335 lo3D9,453 1,765,590 776,775 662,687 944,082 1,283,306
Cost of goods sold and of operations .......... lO,OOlo565 43,821 91,676 215,962 630,112 737,958 903,736 1,360,998 1,085,986 952,796 1,253,072 559,563 435,973 721,888 1,008,024
Compiled net profit or net loss ............... 877,400 4 206 12,186 4 158 20,793 35,448 58,203 106,920 104,411 101,244
1 139,104 72,421 85,683 75,907 79,500
Net income or deficit ......................... 876,425 141206
, 12,186 41157
, 20,793 35,438 58,197 106,883 103,607 101,196 139,099 72,419 85,668 75,864 179,496
Total tax ..................................... 464,405 211 753 2,840 11,766 18,207 31,017 57,444 54,634 54,251 76,223 37,498
Dividends paid in cash and assets other than 42,618 37,342 39,601
om stock .................................... 219,984 142 272 957 3,377 6,818 8,188 19,818 20,901 21,006 35,948 19,904 29,145 23,481 30,027
MANUFACTURING: MACHINERY, EXCEPT

TRANSPORTATION EQUIPMENT AND ELECTRICAL
Number of ret~ with balance sheets ......... 11,272 2,056~ 1,360 1,809 2,391 1,283 871 721 344 195 150 50 22 14 6
(Th-.-d &11... )
Cash .......................................... 1,756,602 3,057 5,278 16,472 47,279 57,679 88,630 153,443 160,110
Notes and accounts receivable less reserve .... 192,999 260,731 203,210 159,141 184,203 224,370
2,844,133 4,779 9,369 26,321 79,237 91,014 122,399 214,330 229,605 250,973
Inventories ................................... 413,244 333,217 273,037 435,635 360,973
4,689,372 3,782 8,703 26,287 89,394 123,313 171,875 350,450 369,342 426,123 773o399 514,195 506,994
Investments ................................... 545,414 780,101
2,042,984 312 1,039 2,993 14,465 21,841 40,143 83,923 122,458 138,452 245,267 230,581 268,146
Capital assets less reserves .................. 398,376 474,988
4,349,283 10,558 23,128 54,283 147,828 147,126 170,270 284,027 284,615 319,906 584,385 457,274 393,184 438,071
Total assets-Total. liabilities ............... 16,018,734 1,034,628
24,051 50,025 131,206 391,184 458,137 611,573 1,118,8017 1,195,421 1,358,922 2,323,634 1,766,373 1,618,220 2,057,988 2,913,193
Accounts notes payable.................... 1,729,713 11,061 11,458 29,347 79,211 94,294 95,890 160,156 154,670 155,453 225,195 166,658 171,224 163,329 211,767
Bonds and and
mortgages payable ................... 1,796,211 2,438 6,315 13,432 45,097 36,749 36,013 62,141 67,548 84,458 1-56,790 174,719 195,509 285,853 629,149
Capital stock ................................. 3,670,948 118,612 22,014 46,888 119,096 116,991 139,856 230,671 211,474 219,928 421,192 281,160 263,645 589,245 990,256
Surplus and undivided profits ................. 7,160,613 11,719 3,727 27,924 104,500 158,098 525,178
265,868 614,084 735,390 1,250,042 954,152 846,293 805,197 881,879
Gross sales and gross receipts from operations 21,060,017 55,553 92,261 249,813 708,836 842,358 1,046,684 1,840,742 1,831,721 1,876,352 3,046,135 2,272,637 2,208,975 2,090,697 2,897,253
Total compiled receipts ....................... 21~329~057 56,579 92,975 251,722 714,700 849,533 1,057,654 1,858,957 1,852,251 1,896,379 3,084,347 2,309,864 2,247,700 2,121,458 2,934,938
Cost of goods sold and of operations .......... 14o515,129 36,543 62,658 168,610 491,489 594,811 738,006 1,296,530 1,293,930 1,312,079 2,093,835 1,594,939 1,679,290 1,405,398 1,747,011
Compiled net profit or net loss ............... 1,749,597 13 229 11,338 2,355 17,218 36,980 60,708 126,210 147,760 177,633 286,654 211,210 186,609 210,502
1,749,045 '31229
1 11,338~ 2,355 17,216 36,972 60,629 126,138 147,724 177,430 286,569 211,177 186,597 210,492
Total tax ..................................... 290,313
933,152 252 782 2,834 11,794 20,125 32,784 70,934 79,414 94,522 155,393
Dividends paid in cash and assets other than 110,646 94,946 ~ 111,242 147,484
can stock .................................... 430,341 28 241 1,414 3,173 4,947 7,696 18,902 21,642 33,021 70,078 1 58,001 50,627 67,750 1 92,921
See footnotes at end of table. See text for explanatory statements and for -Description of the Sample and Limi tations of Data. " M
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Table S.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-ConLinued
Si.e of total assets
MAjor industrial group, selected items $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $lO,ODO,OOO $25,000,000 $5OoOOO,OOO $IOG,OO0 000
Under $250,000,000
Total $25,ODO under =der $2under
50,ODO =der under under under under under under under under1
$50,000 $100,000 $500,000 $1,000,000 $2,500,0DO $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $M,O0O,OOO or more
(1) (2) (3) (4) (5) (6) (7) (a) (9) (10) (12) (13) (14) (15)
MANUFACTURING: ORDNANCE AND ACCESSORIES
Number of returns with balance sheets ......... 6 7 17 6 8 4 2 1 1

(Th--d d,11-)
Cash .......................................... 25,677 21 41 476 1,256 1,001 2,830 7,716 1,860 2,492 7,973
Notes and accounts receivable less reserve .... 26,0~6 58 124 383 1,987 1,393 5,129 4,106 1,925 8,578 2,357
63,009 2) 139 326 3,820
Inventories ................................... 422 2,094 8,698 7,601 12,683 9,369 17,730
2) -
Investments ................... I ............... 32,522 131 30 182 355 2,316 1,762 918 9,41.3 209 17,206
49,565 2) - 131 347 378 4,779 1,171 6,515 8,928 4,417 5,564 17,241
Capital assets less reserves ..................
Total assets-Total liabilities ............... 201,886 (2) 502 947 1,974 11,088 10,451 26,844 30,032 30,496 26,665 62,626
Aceounts and notes payable .................... 29,671 - 115 172 431 3,712 1,901 7,814 2,196 2,419 6,056 4,770
11,494 ((1)
(2 - 91 - - -
Bonds and mortgages Payable ................... 166 2,876 2,036 1,000 5,325
37,652 2)) -358 586 513 4,320 915 3,490 5,602 3,869
Capital stock ................................. 6,683 11,173
87 759 (2 16 53 361 11,707 4,929 9,336 18,494 19,215 4,569 32,519
Surplus and undivided profits .................
368,498
' 2 1,115 1,984 25,228 20,789 16,354 82,330 60,359 27,448 59,957 72,293 -
Gross sales and gross receipts from operations 2)
Total compiled receipts ....................... 370,876 1,123 1,987 25,247 21,439 16,474 82,522 60,728 27,886 60,121 72,718 -
(2) 1,444 -
Cost of'goods sold and of operations .......... 273,467 779 23,814 15,664 11,124 70,069 48,487 17,984 39,566 44,057
Gcmpiled net profit or net loss ............... 32 749 6 22 239 2 663 2 538 4 338 3 006 4 594 4,713 15 988
32:672 2 16 22 2.39 11 2 663
Net income or deficit ......................... ~i~ 1 2 538 4 338 31 006 4 517 4,713 15 11988 -
.......... 17,444 2) 1 23 349 663 1,277 2,228 1,587 2,298 715 8,303
Total t ...................
Dividends paid in cash and a .. a *~her than (2)
own stock .................................... 7,419 2 201 46 1017 90 696 1,864 126 4,287 -
MANUFACTTEING: SCIENTIFIC INSTRMENTS;

PHOTOGRAPHIC EQUIPMENT; WATCHES, CL4DCIM
Number of returns with balance sheets ......... 1,970 465 267 373 347 197 113 100 37 28 29 6 5 2 1
(Th...-d bil-)
Cash .......................................... 234,571 626 884 3,589 5,892 9,685 10,765 13,647 15,618 20,239 43,034 20,793 39,441 26,497 23,861
Notes and accounts receivable leas reserve.. 556,838 1,032 2 236 7,500 12,115 16,666 16,539 32,938 29,595 34,019 95 031 36 607 88 121 120,696 63 743
Inventories ................................. 826,127 1,461 2:985 7,777 16,537 22,464 24,223 55,356 46,737 71,576 136,877 81;610 103;861 141,779 112;884
Investment ................................... 362,267 80 230 1,106 3,079 3,531 6,796 9,901 8,433 23,461 43,961 23,321 35,059 15,501 187,808
Capital assets less reserves .................. 664,827 1,261 3,438 6,357 1-2,112 15,379 18,942 33,599 29,302 45,430 89,988 54,536 71,598 52,410 230,475
Total assets-Total liabilities ............... 2,690,560 4,972 10,276 27,304 53,178 70,002 79,261 151,712 134,516 200,248 414,903 220,345 341,877 359,580 622,386
Accounts and notes payable .................... 301,973 1,373 3,719 5,725 14,875 15,940 13,975 31,186 15,931 16,793 50,679 13,711 34,652 54,272 29,142
Bonds and mortgages payable ................... 225,236 748 862 1,359 2,958 6,897 4,732 13,454 13,954 12,131 38,448 35,612 40,881 53,200
Capital stock ................................. 541,706 3,345 4 994 8,248 19,254 13,835 19,333 34,124 19,649 42,175 73,368 35,680 69,658 9,103 -18 ,940
Surplus and undivided profits ................. 1,179,850 11,095 1434 8,565 10,553 24,518 32,203 53,556 63,419 99,021 207,395 107,904. 168,010 142,004 264,231
Gross sales and gross receipts from operations 3,798,587 12,448 21,948 59,197 105,126 141,620 146,021 265,627 228,762 299,396 602,823 285,837 438,605 564,266 626,911
Total compiled receipts ....................... 3,642,010 12,529 21,999 59,593 105,858 142,587 148,327 268,026 232,210 302,836 607,897 287,918 445,735 568,018 638,477
Cost of goods sold and of operations .......... 2,476,632 7 348 14,317 39,945 71,135 94,970 100,104 184,352 157,449 186,368 394,348 196,213 285,262 414,139 330,682
Compiled net profit or net loss ............... 411,872 1 716 305 1,164 1,515 6,834 9,069 12,015 18,669 28,080 58,292 21,474 40,713 71,423 143,035
Net income or deficit ......................... 411,849 1716 305 1,164 1,515 6,833 9,069 12,015 18,660 28,080 58,279 21,474 40,71-3 71,423 143,035
Total tax ..................................... 216,615 83 212 790 1,626 3, 504 4,290 7,323 10,247 15,035 31,543 11,085 20,531 37,050 73,296
own stock .................................... 93,646 53 26 166 579 602 899 1,688 1,856 5,668 12,648 4,754 3-3,026 15,637 36,044
OTHER MANUFACTURING,
Number of returns with balance sheets ......... 10,237 2,970 1,546 1,776 1,904 968 533 321 122 56 34 6 1 - -
(lh-.-d .0ell...)
Cash .......................................... 368,709 4,246 6,291 15,902 33,529 37,578 44,469 59,553 48,645 45,050 53,934 15,744 3,768
Notes and accounts receivable less reserve .... 723,685 8,936 15,286 35,398 82,907 81,240 86,703 107,803 78,967 72,298 99,321 44,738 10,088
Inventories ................................... 990,030 8,963 1.2,661 31,880 81,064 96,295 106,402 149,333 133,167 112,651 172,632 58,738 26,244
Investments ................................... 288,732 724 994 4,138 13,014 16,581 24,010 35,069 38,627 46,633 59,274 31,778 17,890
Capital assets leas reserves.. ................ 848,928 9,997 17,944 34,653 80,734 89,273 92,461 126,129 103,607 82,81H 151,136 39,361 20,815
Total assets-Total liabilities ............... 3,323,842 34,864 56,771 126,954 303,852 333,027 367,414 493,572 415,502 369,501 548,953 193,331 80,101
Accounts and notes payable .................... 620,661 14,479 17,022 41,545 88,028 77,560 84,374 94,457 63,176 49,206 64,472 23,991 2,351
Bonds and mortgages payable ............ 233,771 6,517 7,845 10,011 24,837 27,258 24,634 33,61.3 27,733 27,907 32,774 1,242 9,400
Capital stock .......................... 781 759 121 208 25,624 40,749 87,623 83,944 80,270 103,520 91,093 65,390 90,051 51,816 40,271
Surplus and undivided profits ................. 1,338,752 14:397 11,012 18,707 74,948 112,780 1.39,703 208,270 190,571 188,477 302,171 97,452 21,082
Gross sales and gross receipts from operations 5,891,509 96,712 132,209 318,930 686,858 677,438 716,778 903,938 686,961 531,502 792 548 241,904 105,731
Total compiled receipts ....................... 5,953,487 97,485 1.32,678 320,563 690,668 683,841 722o837 912,334 693,856 538,540 803;790 245,919 110,976
Cost of goods sold and of operations .......... 4,229,363 69,344 93,142 227,961 501,321 495,254 520,959 665,936 503,837 384,100 538,410 159,520 69,579
Compiled net profit or net loss ......... 261 125 14,985 12 544 1 (Y.6 3-2 837 17,426 29 552 42,311 38,104 29 160 68 668 22 293 7 257
Net income or deficit ................... 260,916 15,005 12,544 11046 12,836 17,422 29,508 42,290 38,096 29,160 68,610 22,240 71257
1 1 1 1 1 1 1
Total tax ..................................... 149,058 407 877 2,631 7,333 9,743 16,019 23,862 21,041 17,734 35,679 11,014 2,718
oan stock .................................... 58,504 40 238 743. 1,930 2,774 4,009 6,353 8,660 7,388 20,392 5,977 -
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data. -I 9t
RETURNS WITH BALANCE SHEETS st
MAJOR INDUSTRIAL GROUP-Cesti..6d
T.U. 6-SILECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAM, BY SIZE OF TOTAL ASSETS, BY
Size of total "sets
$25,000 W,OOO $100,000 $250,000 $500,000 $1,000pOOO $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,ODO,000 $jOO,OOO,ODO
maJor industrial group, selected items Under $250 I000 I 000
under under under under under under under under under under under under
Total $25,000 $250,000,00, or more
$5OpOOO $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $lOpOOO,OOO $25,000,000 $50,000,000 $100,000,000
(5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
(1) (2) (3) (4)
TOTAL PUBLIC UTILITIES

194 85 77 84 81
Number of returns Ith balance sheets ......... 2~,O~
7 8,419 4,142 3p788 4,274 2,089 1,296 966 369
-A
203
(V--d d.11...
82,424 95,814 174,836 139, 007 121,085 187,642 172,121 268,953 538,191 1,725,183
3,657,63? 15,935 20,482 33,001 82,963
Cash .......................................... 118,432 118p5O9 L32,322 208,753 127,726 l2lo371 199,893 180p561 257,541 560,894 1,365,834
3,494,753 18,878 31,009 53,030
Notes and accounts receivable less reserve.... 8,566 L5,009 14,988 25,024 24,624 30,514 93,612 69,757 137,853 297,900 1,743,924
2,467,958 1,198 lp746 3p243
Inventories ................................... 11,393 46,156 49,305 75p415 3-38,457 121,258 128,723 318,121 225,669 307,049 754,944 6p381,759
.......... 8,567,00`7 3p7lO 5,048
Investments ........................ : .......... 79,881 157,763 383,695 423,240 531,842 M,608 803,589 999p83O 2,137,968 2,197,166 4,457p584 10,83lp936 53p678,099
Capital assets Iwo reserves ....... 77,608,412 48p221 66,518pO23
147,863 276,693 680,126 731p679 900,655 1,499p644 1,271,978 1,454o983 3,060,032 2,95lpOD6 5,717,966 1-3,328,698
Total assets-Total liabilities ............... 98,637,129 97,783
147pSO4 157,673 193,774 262,092 188,482 166,395 282p3OO 201p646 279,226 597,893 1,643,229
4p259p559 35,470 40,595 62p980
Accounts " notes payable .................... 107,547 152,300 173,339 398,322 345,192 434,785 lpll7p637 99Op471 2pl53,302 5,718,636 24,879,378
36,555,557 16,034 22,816 45,798
Bonds and mortgages payable ................... 90,835 174,488 190,501 229,009 304,576 279,750 334,030 750,099 675,332 1,533,118 3p6lO,786 20,528,514
28,810 375 53,976 55,371
Capital stock ................................. 14,667 49,412 187,816 167,746 224p857 405,818 337,259 397,424 660,892 859,609 1,25lp295 2p415,416 14p692,286
2lo641,436
' 123,061
Surplus and undivided profits ................. 1,065p488 999,708 1,143,088 1,810p705 1,268p155 1,067p(Y73 1,503,127 1,460,480 2o494p388 4,62OolO6 22,426p870
Gross sales and gross receipts from operations 40,905,940 259,536 310,213 477,003
1,084,149 1,017p752 1,170,425 1,840p477 1,290p241 1,086p421 1,558p333 1,490,795 2,563pl57 4,756,580 23,117,090
Total compiled receipts ....................... 42,037,865 262,574 315,544 484,327
664,288 659,588 790,706 1,246,698 874,201 741,812 1,00~,618 932,776 1,64Op828 2,69lpO69 13p385,020
25,248p296 148p7O9 183,852 284,131
Cost of goods sold and of operations .......... 11,513 35,917 33,623 46p274 92,149 85,782 77,075 138,339 l5lpI43 265,781 647,946 2,840,080
4,423,682 14p551 2,611
Compiled net profit or net loss ............... 33,602 46,247 92,075 85,740 77,017 138,280 151,009 265,681 647,920 2,839,719
4,422 758 14p552 2p6ll 11,513 35,896
Net income or deficit ......................... 17,248 25,520 51,537 47pl99 43,391 75,140 77,404 L35p822 343p858 1,452,930
Total tax ..................................... 2,295,725
' 1,568 2,660 6,015 15,433
Dividends paid in cash and assets other than 5p924 11,240 17p474 17,519 25,624 55,147 59,047 130,940 286pl24 1,435,847
2,056,6Z4 lp486 2,274 2pO75 5,903
ovm, stock ....................................
PUBLIC UTILITIES: TRANSPCHTATION
1,463 837 646 236 120 115 45 36 30 30

Number of returns with balance sheets ......... 19,721 7,197 3,058 2p713 3pl95
(D--d d.11 ...)
69,841 68,519 71p414 1.38,156 108,884 94,145 134,078 109,7r7 150,676 304,002 842,176
2ol5O,852 14,532 17,321 27,331
cash .......................................... 106,973 167,334 102p414 90,021 141,062 2-20,325 123pL34 298,715 462,182
17,807 26,022 43p318 99,656 94,425
Notes and accounts receivable less resexve... . 1,893,388
8,439 10,274 16,890 13,032 15,393 59,923 29,786 62,301 101,953 5S4,601
Inventories ................................... 913,197 863 1,348 2p374 6pO2O
36,696 40p164 53,353 117p258 98p849 98p236 260,085 155,573 253p288 429,800 3,631,743
Investments ................................... 5,192,010 3,"5 4,399 9pl2l
261,845 269,649 316p391 508pO4O 444,038 51.3,444 1,081,608 975,288 1,868,279 3,325,224 19,668,026
Capital assets less reserves .................. 29,424p2O9 38pS42 51,517 102,018
197,393 505,624 513,150 589,118 994,818 804,497 850,822 1,751,815 1,466,252 2,677,530 4,659,302 25p826,789
Total assets-Total liabilities ............... 41,030,289 94,602 lOSp577
128p892 184,375 132,854 109p601 199,362 1-34,31.3 163,728 333,508 709pO85
2,447,656 32,584 35,043 48,941 114,673 120,797
Accounts and notes payable .................... 92,685 l9lo588 183,223 195,053 564,095 309,715 875,944 1,608pO3O 8,563,723
1.2p8l6,742 14,656 17,633 34,536 77o542 88o319
Bonds and mortgages payable ................... 123,083 136,435 203,048 167,785 176,808 408,599 309,226 572, T78 1,066pO79 6,636,473
Capital stock................................. 10,052 592 46pO23 37,350 53,191 115,714
148,663 129p389 173,754 325,618 241,237 305,218 431,147 620,774 796,993 lpl77p7l8 8,152,976
Surplus and undivided profits ................. 12,527:874 122,871 7p148 40,110
950,639 889,518 982,324 1,55Op834 1,051,472 843p858 1,056,017 965,840 1,312pO98 2pl54p579 8,374,756
Gross sales and gross receipts from operations 21,066p927 246p991 270,217 417,784
1,007p503 1,577,341 lpO69,305 860,238 lpO99p642 986p875 1,355,921 2,266,370 8,814p-%43
Total compiled receipts ....................... 21,857p794 249p679 274p336 424,336 967,162 904,543
705p2,41 lolll,21S 765,118 621,029 763,41.2 674p683 944,849 1,476,311 6pO68,639
14,896,751 142,008 161p782 256,414 603p425 602,622
Cost of goods sold and of operations .......... 36p723 55,106 64,028 73,240 158p273 406,092
998 261 14p805 1,481 8p4O9 28p58O 28,194 39,812 60,036 43,092
Compiled net profit or net loss ............... 36t666 55pO47 63,976 73,140 158p257 405,961
997:712 14p805 lp481 8p409 28p579 28pl73 39,790 59,975 43,063
Net income or deficit ......................... 25pO31 23p733 34,941 33,999 42p572 91p998 21-3,408
552,075 1,398 2,082 4,652 12,527 1-3p689 18,827 33p218
Total t . .....................................
Dividends paid in cash and assets other than 4,669 8p168 l2p509 9,336 l4p418 27,108 27,540 42,598 62,572 279,959
497,235 1,262 1,137 1,477 4,482
own stock ....................................
PUBLIC UTILITIES: COMMICATION
626 346 264 170 61 22 8 3 4

Number of returns with balance sheets ......... 3,455 491 718 722
(Th--d d.IJ... )
867 ,206 ,164 060 ,268 ,999 ,954 ,933 ,091

Cash.......................................... 314 , 088 541 ,965 ,604 0,136 ,300
60 89 7 90 11 0913 283 59,518 250,205
Notes and accounts receivable less reserve .... 478,650 609 o830 ,440 1 356 615 535 455p984
12 86 4 6 I P 172 4;602 11 803 21300 41 482 4P1 275 7 1 901 1 6 4,137 28p986
Inventories ................................... 527 802
564 ,975 ,823 4OO 241 ,358 230 ,667 l93 97,823
100 470 2,223 ,183
Investments ....................... : ...........
........... 1, 533550
P
p970 4,104 6p551 1p222 8,133 0,056 9,968 ,220 ,911 241,064
13, 067p 629 ,247 7,737 4,146 ,300
Capital assets less reserves ...... 9p817 4, M 4,751 8p733 4,731 5,500 3,050 9,436 4,964 ,413 998,969
,930 5p669 2o529
Total assets-Total liabilities ............... 16,544o391
3,984
p568 6,048 5,363 1p439 p9lO ,352 684 ,882 pl79 ,872 ,497
Accmmts and notes payable .................... 454,372 1,141 3,453
,424 ,672 ,728 p7lO ,285 3, 0`73 ,341 ,811 19,652
Bonds and mortgages payable ................... 5 p 023, 249 83 ,312 pO6O 0,853 ,945
t9O5 ,227 ,643 t216 ,842 366 OOl ,383 ,341 73,910
Capital stock ................................. 6 p 388,427 3 o 96 ,928 ,103 ,366
187 862 47,935
,458 ,733 ,M ,532 ,278 715 527
Surplus and undivided profits ................. 2 , 904 , 556 827 4O8 748 ,496
,888 ,406 45p515
8 , 416P OO4 7 p l8l ,823 ,139 ,380 p733 4,259 9,138 7,971 ,670 909 ,992
Gross sales and gross receipts from operations ,848 1151, 1 ,814 282 6 pS6O 41,140
8,539,693 7,260 2p275 7,833 , 04.0 pS91 5,746 1,257 0,722
Total compiled receipts .......................
6,897 1p790 4,748 ,042 p164 ,795 p7O9 ,069 ,680 ,531 7pO71 ,498 55,526
Cost of goods sold and of operations .......... 4 , 629 , 292 ,773
,301 ,411 908 793 95,666
96 ,099 916 001 6 p122 o464 ,501
Compiled net profit or net loss ............... lp312, 818 54
,301 ,391 908 793 95,621
54 96 ,099 896 001 3 ,119 ,452 ,501
Net income or deficit ......................... l p 312 , 715
899 ,881 ,974 ,561 658 ,639
6 97 ,010 ,992 01.3 794 ,663 p574
Total tax ..................................... 675pl2l
Dividends paid in cash and assets other than ,889 197 317 832 246 ,473 . 45OA566
509,074 28 1 883 77 859 745 1,757 ,905
own stock ... ................................
Table 6.-SELFCTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued
Major Indu trial group, selected $50,000

items Under $25,COO $100,000 $250,000 $500,000 $1,000,000 $2,500,~O $5,=;~00 '10,00',OCO $25,000,000 $50,000,000 $10D,000,000
Total =der $,00,000
under under =der under under unde under
'ODO under under $250 000 000
$25,000 under
$50,OC)O $250,OC)O $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25 000 $50,000,000 $100,ODO,000 $250,000,000 or'.ore
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
PUBLIC UTILITIES: ELECTRIC AND GAS UTILITIES
Number of returns with balance sheets ......... 1,0691 Sol 851 771 1821 1361 1151 83 561 451 52 1 28 331 51 46
(7hm,and dll,r,)
CBS 1,141,616 167 499 411 1,606 2,384 8,030 6,384 9,436 16,750 30,611 37,057 92,131 206,256 733,994
N.1e;';1~Za-
h r --ivable
*; .. less reserve
...........
.... 1,089,575 213 438 1,336 4,571 3,937 5,743 9,680 10,526 20,944 35,657 43,028 101,542 202,661 649,299
Inventories ................................... 1,011,817 1 67 128 997 1,530 2,185 4,829 6,296 9,680 23,680 26,971 68,570 166,961 699,932
Investments ................................... 1,702,694 16 151 22 2,191 2,152 11,962 4,019 5,065 13,646 15,391 28,589 38,231 310,951 1,270,308
Capital assets less reserves .................. 34,044,060 346 1,917 3,515 22,165 33,338 52,073 106,746 166,599 266,623 715,526 875,61-1 2,170,551 7,074,801 22,554,259
Total assets-Total liabilities ............... 39,721,543 944 3,259 6,437 32,897 45,210 81,867 137,140 205,017 335,259 858,641 1,027,160 2,521,945 8,093,983 26,371,884
Accounts and notes, payable.................... 1,236,213 258 436 2,339 9,282 6,749 19,306 12,347 30,924 31,785 50,929 40,445 86,070 236,888 708,455
Bonds and mortgages payable ................... 18,147,529 - 382 674 2,438 12,697 17,104 65,328 67,459 138,372 381,739 505,544 1,108,858 3,917,795 11,929,139
Capital stock ................................. 12,025,154 436 1,497 2,838 8,726 12,949 25,374 23,858 48,415 83,538 221,947 245,731 781,853 2,333,366 8,234,626
Surplus and undivided profits ................. 6,011,647 71 ?08 375 10,194 9,134 11,464 24,695 43,897 50,434 137,606 143,952 365,039 1,152,836 4,061,242
Gross sales and gross receipts from operations 11,177,859 1,191 3,508 4, 118 25,123 25,435 42,834 72,267 88,383 141,911 306,927 357,788 867,407 2,069,121 7,171,846
Total compiled receipts ....................... 11,388,486 1,322 3,659 4,141 25,438 25,924 43,271 72,876 89,698 144,105 309,570 365,036 889,534 2,088o350 7,325,562
Cost of'goods sold and of operations .......... 5,620,450 754 2,228 2,619 16,935 15,924 28,057 50,237 52,305 84,958 171,037 197,113 497,163 957,260 3,543,860
Compiled net profit or net loss ............... 2,071,690 48 is 246 1,665 2,696 4, 0`70 6,074 13,493 20,321 50,708 57,455 145,959 433,880 1,335,083
Net income or deficit ......................... 2,071,484 48 18 246 1,665 2,696 4,070 6oO65 13,492 20,320 50,708 57,455 145,959 433,8,70 1,334,898
Total t ax ..................................... 1,049,012 21 69 70 487 874 2,011 3,230 6,694 9,650 25,359 28,654 69,319 224,202 678,372
own stock .................................... 1,034,759 162 69 1 182 347 866 1,374 2,496 6,281 16,481 22,707 75,105 205,079 703,609
OTHER PUBLIC UTILITIES
Number of returns with balance sheets ......... 1,822 651 281 276 271 144 67 16 16 1-1 4 4 - I
(Th-and doll...)
Cash .......................................... 47,081 695 697 655 1,380 2,221 6,503 4,090 lo523 4,130 5,685 5,288 6,192 8,022
Notes and accounts receivable less reserve.... 33,140 249 719 936 2,849 3,532 2,071 2,979 1,197 1,799 6,484 2,595 3,582 4,148
Inventories ................................... 15,142 22 45 275 387 438 726 1,005 814 1,166 2olOS 1,904 2,845 3,407
Investments ................................... 139,053 149 28 27 2,086 1,425 1,125 2,357 944 11,600 17,287 l8o277 1,863 81,885
Capital assets less reserves .................. 1,072,514 4,786 8,710 18,084 34,385 39,283 39,274 86,271 51,740 91,630 160,778 1.16,299 206,534 214,740
Accounts and notes payable .................... 121,318 1,487 1,663 3,~32 7,801 4,764 4,137 25,460 4,352 17,325 12,127 .10,709 6,556 21,705
Bonds and mortgages payable ................... 568oO37 995 1,489 2,528 6,714 15,339 5,126 46o734 23,782 42,650 85,518 62,139 108,159 166,864
Capital stock ................................. 344,202 4,321 4,596 6,703 15,682 14,564 19,973 18,027 16,334 21,842 50,177 27,374 61,104 83,505
Surplus and undivided profits ................. 197,359 11,088 1,403 4ol79 7,463 10,765 22,906 4,655 6,593 15,494 33,424 32,356 29oO76 30,133
Gross sales and gross receipts from operations 245,150 4,173 4,665 7,962 17,346 17,022 1.3,671 28,466 10,329 16,634 32, Z74 20,860 34,995 34,753
Total compiled receipts ....................... 251,892 4,313 5,274 8,017 17,509 17,394 13,905 29,003 10,516 19,230 33,530 22,070 35,286 35,845
Cost of goods sold and of operations .......... 101,903 2,174 2,945 3,308 9,180 7,000 6,244 15,448 4,069 5,757 10,489 6,449 U, 745 16,995
Oompiled net profit or net loss ............... 40,913 52 342 759 756 1,732 lo706 2,917 1,733 4,530 8,224 6,249 8,674 3,239
Net income or deficit ......................... 40,847 51 342 759 756 1,732 1,704 2,916 1,733 4,530 8,224 6,187 8,674 3,239
Total tax ..................................... 19,517 73 112 283 427 672 888 1,426 900 2,119 3,959 2,777 4,370 1,511
own stock .................................... 15,556 34 185 220 380 163 449 686 798 1,728 4,241 968 3,991 1,713
TOTAL TRADE
Number of returns with balance sheets ......... 222,801 56,653 38,906 43,272 48,299 19,856 8,963 4,597 1,280 569 265 76 33 19 13
(77--d *11...
Cash .......................................... 6,316,954 103,886 183,066 375,945 864,198 731,885 659,940 708,668 471,427 415,675 370,965 219,741 226,439 251,999 733,120
Notes and accotints receivable less reserve .... 16,594,001 138,412 316,829 765,937 2,168,673 2,066,340 1,875,723 2,125,594 1,351,866 1,197,196 1,091,176 795,782 686,574 676,895 1,337,004
Inventori ..................................... 18,138,316 208,288 500,421 1,092,674 2,574,690 2,215,079 1,971,291 2,156,592 1,312,321 1,150,769 1,114,845 692,291 550,866 793,609 1,804,580
Investments--*- .... -**----* ..... 5,650,821 18,579 40,561 115,314 343,935 378,995 433,579 551,487 453,351 395,948 514,196 337,948 432,913 336,434 lo297,581
Capital assat. less reserves.. ................ 10,695,155 170,476 308,252 632,882 1,432,115 1,276,632 1,068,565 1,161,399 668,323 654,953 788,340 514,824 388,011 696,709 933,674
Total as sets-Total liabilities ............... 59,131,799 685,116 1,420,820 3,112,960 7,645,036 6,883,342 6,198,286 6,900,528 4,369,455 3,897,486 3,963,881 2,631,494 2,326,475 2,826,567 6,270,353
Accounts and notes payable .................... 15,401,620 287,439 46lo487 920,627 2,118,350 1,894,197 1,690,568 1,877,020 1,204,214 .1,035,795 941,988 560,805 501,475 654,215 1,253,440
Bonds and mortgages payable ................... 4,972,978 97,649 1.37,559 261,693 542,432 446,709 384,645 441,035 408,941 319,404 419,658 296,895 236,967 276,271 703,120
Capital stock ................................. 12,855,942 382,713 546,978 1,027,683 2,111,812 lo605,048 1,300,030 1,405,088 804,686 697,859 711,365 457,062 348,854 504,947 951o817
Surplus and undivided profits ................. 21,065,708 1164, 113 149,191 662,672 2,298,098 2,383,861 2,322,282 2,599,959 1,525,585 lol44,022
1,603,752 1,525o614 1,102,968 1,047,526 2,864,291
Gross sales and gross receipts from operations
Total 168,347,381 2,903,380 4,816,888 10,111,065 24,308o993 21,792,079 19,248,393 19,679,121 11,698,744 10,594,900 10,190,259 5,197o392
7,146,921 6,923,078 13,736,168
compiled receipts ....................... 170,588,886 2,931,734 4,a6l,490 10,218,081 24,601,871 22,077,340 19,499,452 19,981,035 11,867,566 10,763,524 10,376,354 7,238,800 5,279,852 6,983,757 13,908,030
Cost of goods sold and of operations .......... 135,281,578 2,102,615 3,589 059 7,889,006 19,603,846 17,862,326 15,858,981 16,125,473 9,581,655 8,705,9.34 8,294,609 5,764,606 4,102,854 5,336,168 10,464,446
Compiled net Profit or net loss ............... 3,629,372 159,281 14,188 67,416 286,704 323,612 351,595 445,224 302,150 277,266 290,649 216,702 209,270 230,354 691,899
Net income or deficit ......................... 3,6Z7,405 159,288 14,194 67,404 286o544 323,316 351,473 445,047 276,535 290,557 216,568 209,146 230,352 691,891
302,054
Total tax ..................................... 1,867,427 6,216 18,882 47,944 1,32,493 144,444 165,413 222,365 156,234 139,589 148,831 111,430 101,675 117,437 354,274
0wo stock .................................... 908,724 5,293 9,233 18,16D 49,746 51,31-5 57,165 67,787 50_610 49 9_27 70,3771 67_281 1 7_3 945 78,469 259,416
See fc~otnotes at end of table. See tert for explanatory statements and for "Description of the Sample and Limitations of Data."
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9
Table O.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, By MAJOR INDUSTRIAL rROUP-Continuod

Major industrial group, selected
items Under $25,000 $50,000 $100,ODO $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,OC)0,000 $25,000,0001 $-,OGO,OGO $lOO,OOO,OoO
Total under -der under under under under under under under
~000~ $250 ODO,OOO
$25,000 under under under
$50,000 100,ODO $2.50,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $l0,OOOjOOO $25 000 $50 000,0001 $100,000,000 $250,000,000 or more
(2) (3) (4) (5) (6) (8)
(7) (9) (10) (12) 1 (13) (14) (15)
TRADE: TOTAL RETAIL
Number of returns with balance sheets ......... 128,958 33,864 25,834 26,573 26,870 9,463 3,794 1,735 214 109 381 16 7
(77--d d,11...
Gash .......................................... 3,341,135 56,182 109,539 208,980 457,792 349,168 281,421 273,087 174,173 188,516 173,576 126,674 136,696 175,576 629,755
Notes and accounts receivable less reserve .... 6,732,341 63,288 156,977 373,238 1,031,4017 857,864 714,085 735,530 388,053 365,488
Inventories ................................... 361,829 305,214 299,11.2 274,501 815,755
8,793,866 153,427 374,739 743,835 1,501,976 1,030,796 762,246 718,080 404,870 377,611
Investments ................................... 443,757 332,284 275,666 420,455 1,254,124
2,390,127 9,341 21,319 58,969 184,139 186,033 184,911 206,374 144,769 129,383
Capital assets less reserves .................. 180,822 137,773 1", 383 228,802 573,109
6,607,378 130,589 230,391 434,005 878,020 718,134 564,837 576,433 324,641 372,900 448,424
Total assets-Total liabilities ............... 395,460 289,4e7 534,781 709,276
28,789,635 442,093 940,937 1,896,735 4,203,175 3,259,8W 2,594,055 2,588,918 1,475,873 1,475,696 1,654,188 1,333,997 1,164,645 1,696,222 4,063,224
Accounts and notes payable .................... 5,756,881 175,978 289,597 518,803 1,042,361 752,627 556,590 535,896 294,506 242,673 248,314 166,441 137,523 184,136 621,436
Bonds and mortgages payable ................... 2,431,124 65,106 98,721 180,660 M, 302 229,544 163,723 180,858 142,053
Capital stock................................. 138,704 191,105 195,027 146,61-1 226,031 142,479
6,750 176 238,130 365,167 638,871 1,184,268 762,674 548,464 537,063 273,889
Surplus and undivided profits ................. 279,166 314,570 262,763 198,918 356,03-1 790,222
3-1,205,993
, '86,121 107,517 415,022 1,340,518 1,246,425 1,097,978 1,084,059 623,010 652,463
Gross sales and gross receipts from operations 698,563 599,567 590,699 749,043 2,097,250
78,559,198 1,797,399 2,885,299 5,539,099 12,113,838 9,513,374 7,665,591 6,592,980 3,512,922 3,524,394 3,785,787
Total compiled receipts ....................... 3,015, IV 2,748,003 4,013,306 11,852,0`79
79,767,606 1,812,931 2,912,237 5,607,179 12,292,344 9,674,631 7,799,047 6,748,504 3,601,064 3,617,9.34 3,873,059 3,068,570 2,786,301 4,045,471 1.1,928,334
Cost of goods sold and of operations .......... 58,815,880 1,246,447 2,050,Z78 4,160,944 9,434,749 7,476,437 6,003,311 4,929,665 2,535,721
Compiled net profit or net loss ............... 2,502,034 2,660,863 2,103,593 2,021,451 2,858,228 8,832,159
1,931,804 135,41.1 17,107 24,610 1.23,344 143,166 1-43,232 175,517 111,411
Net income or deficit ......................... 123,546 140,639 125,005 106,842 163,642 593,368
1,930,500 135,412 17,111 24,603 123,213 142,999 143,183 175,464 111, 365 122,913
Total tax ..................................... 140,612 124,899 106,763 163,641 593,368
1,027,841 3,542 10,360 24,634 65,194 67,194 67,477 88,583 59,067 62,324 73,099
Dividends paid in cash and assets other than 63,400 54,303 84,458 304,206
own stock .................................... 518,164 3,500 6,308 11,268 25,983 26,176 22,394 26,881 17,548 21,897 33,615 40,587 35,555 54,847 191,605
TRADE: RETAIL: FOOD
Number of returns with balance sheets ......... 9,582 3,298 1,849 1,667 1,493 626 311 195 64 44 19 8 4 2 2
( ?h ..d d.11 ...)
Cash 618,536 5,217 7,848 13,701 29,869 27,066 26,618 39,730 40,142 56,971 46,666 44,583 45,253 49,864 184,908
Notes and c. receivable less reserve.... 38?,695 5,265 lOo959 15,21-2 34,058 35,255 37,055 38,761 26,395 22,194 22,874 35,648 40,134 6,757 57,128
Inv ntories ................................... 1,061,703 9,903 14,504 26,191 46,313 39,744 42,321 66,589 51,973 86,768 83,489 69,552 83,806 128,660 31-1,890
Inv:st.ents ................................... 260,627 1,272 2,405 4,504 9,917 9,462 14,156 22,314 29,419 25,179 21,937 33,406 37,012 6,245 43,399
Capital assets less reserves .................. 1,203,797 16,526 26,479 51,909 102,237 93,992 90,182 127,227 74,597 111,979 96,683 92,237 83,e94 104,187 141,668
Total assets-Total liabilities ............... 3,684,969 41,171 65,848 327,102 233,944 216,176 219,799 298,454 231,002 314,979 281,865 283,803 297,397 302,335 781,094
Accounts and notes payable .................... 815,633 16,034 20,419 33,431 67,989 57,604 54,254 64,245 46,474 56,781 53,289 44,360 38,546 45,068 217,139
Bonds and mortgages payable ................... 365,885 7,284 7,329 16,938 23,032 22,544
Capital stock ................................. 23,393 30,137 20,017 34,004 25,221 57,900 51,642 37,219 9,225
776,350 19,647 25,683 40,618 64,419 54,156 47,294 60,328 45,471 59,838 57,20
Surplus and =divided profits ................. 93,248 47,825 35,825 134,755
lo361,441 15,812 7,016 17,095 57,244 63,049 73,707 111,642 94,590 131,369 99,818 1.36,290
Gross sales and gross receipts from operations 72,270 143, 116 359,847
19,675,239 273 126 347 290 598 888 1,243 865 11003 339 1 037 989 1,370,698 1,003,831 1,436,072 1,270,343 1,146,394 1,416,933 1,689,285
Total compiled receipts ....................... 19,757,055 5,837,186
274:516 3491,188 602:370 1,249:030 1,008:428 1:043:949 1,381,8.36 1,015,496 1,448,525 1,277,160 1,151,475 1,423,656 1,690,390 5,841,036
Cost of goods sold and of operations .......... 15,925,529 213,902 273,743 480,240 9e9,134 T78,705 808,639 1, 064, 909 786,687 1,119,282 1,014,216 M,231 1,154,9175 1,392,650 4,950,316
Compiled net profit or net loss ............... 402,190 12,386 741 2,834 16,785
Met income or deficit ......................... 17,610 20,4017 32,502 28,686 42,410 36,569 36,562 45,088 36,701 87,481
401,514 12,386 741 2,934 16,784 17,809 20,405 32,498 28,675 41,793 36,556
Total tax ..................................... 36,535 45,088 36,701 87,481
203,339 413 908 1,843 6,729 7,696 9,241 16,496 1-3,874 20,975 18,477 18,938
Dividends paid in cash and assets other than 18,528 22,470 46,751
own stock .................................... 81,358 128 108 552 1,417 1,625 1,677 3,372 2,674 4,565 6,059 10,164 12,224 10,125 26.668
TRADE: RETAIL: GENERAL MERCHANDISE
Number of returns with balance sheets ......... 7,055 1,518 1,157 1,306 1,455 704 352 286 115 69 47 22] 10 9 5
(Th-d db11...)
Gash.......................................... 1,015,239 2,527 6,2017 12,512 26,944 28,376 29,020 49,051 46,170 52,579 58,328 57,875 72,991 125,712 444,947
Notes and accounts receivable less reserve .... 2,126,460 2,457 6,015 12,904 38,914 49,642 60,856 121,286 98,632 126,222 175,633 209,025 198,503 267,744 758,627
Inventories ................................... 2,546,402 9,306 22,195 47,034 100,020 91,518 86,769 139,954 127,693 1.32,237 208,770 203,947 142,930 291,795 942,234
Investments ................................... 1,131,196 652 998 3,622 14,918
Capital assets less reserves .................. 19,654 19,216 35,239 37,791 35,413 59,780 49,472 102,174 222,557 529,710
2,102,142 2,825 5,535 14,534 39,550 49,483 44,320 100,871 92,131 119,941
Total assets-Total liabilities ............... 211,030 230,423 193,297 430,594 567,608
9,136,300 18,319 42,329 93,135 226,572 244,783 247,178 460~523 414,601 479,916 731,058 774,247 727,622 1,393,887 3,282,130
Bonds and mortgages payable ................... 708,894 2,186 3,479 5,008 13,984 14,967 16,169 34, 119 .37,971 31,710 74,764 85,416 67,045 188,812 133,254
Capital stock .............................. ;.. 2,016,950 10,712 18,475 33,81-1 109,937 78,535 67,811 1)5,450 86,968 95,714 148,858 133,135 141,891 320,186 655,467
Surplus and undivided profits ................. 4,345,151 '3,152 6, 112 28,396 36,114 91,580 99,150 195,800 191,502 242,653 335,291 409,579 368,796 605,9Z7 1,737,403
Gross sales and gross receipts from operations 16,804,108 51,518 105,827 230, 549 482,950 485,890
Total compiled receipts ....................... 515,030 896,079 814,256 918,134 1,387,658 1,449,056 1,128,247 2,324,021 6,014,893
17,138,869 52,133 107,138 233,054 492,126 498,574 528,992 924,200 835,315 947,216 1,432,827 1,485,459 1,159,456 2,355,081 6,087,298
Cost of goods sold and of operations .......... 11,005,438 38,846 75,120 167,677 344,556 337,165 351,418 598,247 557,789 609,568 9017,434 945,335 724,962 1,465,578 3,881,843
Compiled net profit or net loss ............... 943,292 '1,713 564 3,969
Net income or deficit ......................... 7,457 11,184 14,471 29,602 30,174 39,687 61,217 59,510 54,342 126,941 505,887
943,124 11,713 564 3,969 7,455 11,181 14,457 29,592 30, 148
Total t ax ..................................... 39,662 61,209 59,490 54,263 126,940 505,887
482,596 135 568 1,588 3,302 5,215 6, 5017 15,464 16,871
Dividends paid in cash and assets other than 20,187 31,234 30,563 27,987 65,520 257,455
own stock .................................... 293,941 97 342 1,418 2,485 122 2,825 6,592 1 5,880 8,308 13,227 19,653 20,233 44_722 164.9
Sea footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data."
to
T.bl. a-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-C-Linued
Major industrial group, selected items $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500 $10,000,000 $25,000,ODO $50,000,000 $.,.,000
Under r under
'000 000 under $250 000 000
Total under under under under under under , under
000 $100 under $2 under
$25,OC)O $L-,OO0,OOO $25 $50,000,000 1000,000 50,000,000 or more
$50,000 $100,000 $250,000 $500,000 $1,000,DOO $2,500,000 $5 000
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) , (12) 13) (14) (15)
TRADE: RETAIL: APPAREL AND ACCESSORIES
4,4111 4,504 4, 2,892 821 367 2231 59 26 13 -

Number of returns with balance sheets ......... 17,545 11
(711--d d.1 I-)
Cash .......................................... 317,423 8,664 21,532 39,466 55,122 32,357 27,129 38,880 21,309 23,051 22,270 20,475 7,168
Notes and accounts receivable less reserve .... 588,399 8,478 20,450 51,166 104,877 74,384 68,592 90, OC)7 50,770 42,985 35,662 30,289 10,739
Inventories ................................... 985,327 35,788 89,513 144,813 184,418 102,979 88,226 107,579 64,830 45,337 56,003 45,307 20,534
225,296 1,406 3,045 12,320 26,315 18,952 20,028 30,086 21,749 19,591 42,693 23,964 5,147
Capital less reserves
........
..................
* ... ---- 440,879 lOoOlq 24,830 40,957 62,619 42,765 45,663 60,207 31,085 34,701 37,806 43,518 6,709
Investmentas
Total aa:ets-Total liabilities ............... 2,635,281 66,833 165,560 297,952 447,411 279,913 257,509 337, 352 194,481 170,~~ 198,465 166,561 52o867
601,698 27,583 51,418 77,871 107,474 69,678 64,072 83,594 32,086 34,267 24,930 27,226 1,499
Accounts and notes payable....................
197o430 5,432 10,619 l5o296 26,217 15,2?0 l3o4OO 21,357 19,200 18,436 42,307 9,8%
Bonds and mortgages payable...................
650,906 36,337 60,443 97,5140 125,330 72,871 60,122 74,032 38,507 32,047 27,325 24,664 -1,68
Capital stock .................................
19,586 29,374 85,141 155,329 102,201 96,861 133,104 87,716 69,359 90,129 83,716 44,920
Surplus and =divided profits ................. 968,264
Gross sales and gross receipts from operations 5,474,913 187,993 399,681 653,480 927,339 572,927 541,907 675,105 384,289 335,166 444,608 311,246 41,172
948,448 560,068 699,172 399,088 347,207 449,859 316,351 41,426
Total compiled receipts ....................... 5,606,415 189,986 404,140 662,430 588,240
Cost of goods sold and of operations .......... 3,540,683 128,114 264 863 427,601 600,012 370,583 346,887 430,072 240,608 213,646 302,458 193,249 22,590
Compiled net profit or net loss ............... 111 257 16 026 1149 10,088 17,058 8,994 10,988 1.3,598 7,536 10,220 14,098 24,031 821
Net income or deficit ......................... 1.11,174
' 16,026
, 1149 10,088 17,047 8,994 10,986 13,587 7,536 10,220 14,098 23,972 821
Total tax ..................................... 60,652 384 1,766 4,724 7,363 4,306 5,440 7,549 4,815 4,593 7,225 12,063 424
own stock .................................... 28,935 1-16 619 2,461 3,640 1,470 2,193 1,396 2,513 4,769 7,024 944
11890
TRADE: RETAIL: FURNITURE AND HOUSEFURNISHINGS
Number of returns with balance sheets ......... 12,427 2,960 2,374 2, 2,895 loO53 357 33 19 10 1
14~1
(r~-d d.11...
cash ............ I ............................. 150,998 4,065 8,895 18,591 38,982 25,791 2-3,763 13,052 7,181 10,155 10,303 220
Notes and accounts receivable less reserve .... 914,763 10,366 25,030 61,194 193,210 170,641 126,939 111,393 63,001 67,067 77,406 8,516
Inventori es ................................... 551,918 16,359 39,211 72,357 143,080 96,655 64,386 46,531 19,340 22,028 30,873 1,098
Investments ................................... 115,816 564 1,035 3,469 18,829 16,118 13,391 13,372 6,668 12,462 15,574 14,334
Capital assets less reserves .................. 200,863 5,836 8,513 20,876 52,309 34,702 21,184 18,638 9,945 14,221 1-3,689 950
Total assets-Total liabilities ............... 1,993,599 39,608 86,969 184,858 461,400 353,400 245,704 208,31.2 109,506 1.28,710 149,949 25,283
Accounts and notes payable .................... 476,976 18,516 29,533 54,036 109,927 83,296 61,003 40,538 23,386 30,261 25,857 623
Bonds and mortgages payable ................... 164,498 4,148 7,268 17,158 32,379 18,220 1-1,659 13,522 8,607 12,862 21,809 16,866
Capital stock ................................. 476,944 23,747 35,696 61,451 126,764 75,Z75 50,278 41,058 13,662 17,603 28,403 3,007
Surplus and =divided profits ................. 598,592 111,039 5,436 35,423 145,880 126,029 87,290 77,201 39,054 47,814 44,785 729
Gross sales and gross receipts from operations 3,104,696 140,414 237,779 412,842 770,447 497,274 325,055 264,909 126,187 128,526 190,138 12,125
Total compiled receipts ....................... 3,278,188 141,515 240,254 419,894 800,373 526,849 .346,371 288,709 141,090 148,492 209,482 15,159
Cost of goods sold and of operations .......... 2,003 168 99,398 1661580 288 236 509,691 312,759 200,092 161,595 74,148 71,686 112,782 6,201
Compiled net profit or net loss ............... 50:797 14,525 697 1175 9,456 13,881 7,104 8,987 3,509 4,225 8,887 145
Net income or deficit ......................... 50,653 14,525 1701 1175 9,451 13,762 7,097 8,987 3,506 4,222 8,884 145
31,990 208 932 1,791 5,420 5,559 3,2?8 4,247 2,275 2,529 5,751 -
Total tax .....................................
own stock.. .................................. 12,515 63 1,023 246 1,481 2,093 1,318 1,450 700 1,242 2,899
TRADE: RETAIL: AUTOMOTIVE DEALERS AND

FILLING STATIONS
1,309 403 64 11 2 - 1
Number of returns with balance sheets ......... 23,937 3,369 2,8W 5,241 7,648 2,999
(77--d d.11...
Cash .......................................... 584,139 6,469 13,266 44,668 148,892 137,130 120,326 69,865 22,947 8,181 1,11, 1.1,294
184,611 154,230 71,601 31,695 14,110 - 39,736
Notes and accounts receivable less reserve .... 1,005,703 9,386 20,968 69,788 216,754 192,824
Inventories ................................... 1,522,954 12,466 41,015 165,740 481,052 357,156 248,992 136,479 40,387 6,568 4,703 28,396
58,689 68,263 50,823 21,249 1.2,487 1,445 50
Invest,ments ................................... 274,200 1,653 3,228 8,535 47,778
-
Capital assets less reserves .................. 1,055,177 8,354 23,175 78,635 256,869 245,730 226,276 140,473 45,081 21,436 3,561 5,587
Total assets-Total liabilities ............... 4,634,436 41,211 106,980 384,693 1,210,644 1,041,380 882,441 569,379 204,738 81.129 25,082 86,759
Accounts and notes payable .................... 1,068,102 15,249 35,012 115,041 31.1,864 236,068 161,689 116,451 50,412 14,599 7,292 4,425
Bonds and mortgages payable ................... 377,442 5,764 12,193 36,171 96,938 72,741 49,641 32,374 30,472 10,773 2,251 28,124
Capital stock ................................. 1,026,909 25,337 43,179 133,122 314,328 207,945 157,360 92, 007 30,008 13,834 2,275 7,514
Surplus and undivided profits* ................ 1,830,728 110,186 7,716 78,158 414,417 450,097 448,205 280,798 75,475 33,960 11,395 40,693
5,169,133 4,722,581 3,759,024 2,010,70`7 510,243 109,293 51,120 161,651
Gross sales and gross receipts from operations 18,936,949 255,988 481,375 1,705,834
Total compiled receipts ....................... 19,159,725 258,669 486,721 1,725,094 5,224,518 4,772,940 3,799,619 2,039,251 523,526 114,006 53,618 161,763
Cost of goods sold and of operations .......... 16,210,048 210,012 403,320 1,470,896 4,455,118 4,061,981 3,229,415 1,710,900 422,281 87,582 39,519 119,024
Compiled net profit or net loss ............... 111,721 17,612 17,754 112, 50`7 1,494 31,291 44,004 38,457 11,810 4,185 1,762 6,591
Net income or deficit ......................... 111,634 '7,612 17,754 112,514 1,429 31,289 44,002 38,451 U, 909 4,181 1,762 6,591
93,437 486 972 2,955 13,843 19,654 22,361 19,713 6,844 2,077 1,110 3,422
tax.....................................
Dividends
Total paid in cash and assets other than
own stock .................................... 31,988 792 463 1,762 5,332 7,575 6,942 4,551 1,668 422 327 2,254
Tebl. O.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF
TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued

Vajor industrial group, selected items
Under $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000
Total under $,=der =der =der under under =der under under $250 1 0001 000
$25,000 under under under
$50,000 00,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $250,000,000 or more
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
TRADE: RETAIL- DRUG STORES
Number of returns with balance sheets ......... 5,267 1,556 1,860 1,130 492] 122 46 34 16 5 5 1
(7hw,.d d,11-)
Cas 76,300 2,421 7 5.30 8 273 8 768 4,213 3 652 6,589 7 123 6,478 is 691 2,562
Nothe." ;~~ " ce
* * ~. race ivable less reserve .... 56,805 1,705 61509
I 61534
I 10,069
I 4,363 3 576 4,792 4:686 2,078 3 558 8,935
Inventories ................................... 256,118 12,919 35,147 36,838 29,953 14,123 15,544 28,126 25,523 15,605 32,593 9,747
Investments ................................... 37,178 257 1,436 3,220 3,695 1,582 1,789 1,485
Capital assets less reserves .................. 2,586 2,903 8,198 10,027
138,044 5,409 13,442 19,289 20,545 15,266 7,049 15,081 13,547 9,508
Total assets-Total liabilities ............... 12,249 6,659
583,694 23,417 66,742 76,765 74,888 40,701 32,333 57,879 54,945 37,181 80,155 38,788
Accounts and notes payable .................... 127,025 7,569 IS,= 20,089 14,516 8,152 8,797 10,939 6,565 6,060 15,120 1-1,131
Bonds and mortgages payable ................... 54,330 2,036 6,832 8,292 7,662 5,695 2,301 3,973 3,993 3,555 5,619 4,372 -
Capital stock ................................. 143,682 10,104 24,129 22,700 21,455 10,653 7,172 11,021 10,220 3,339 10,075 12,814
Gross
Surplus and undivided profits ................. 211,687 1,771 13,413 19,780 25,983 13,523
sales and gross receipts from operations 11,924 26,156 28,582 19,916 41,674 8,965 -
1,642,896 90,598 212,615 23-2,662 192,869 89,449 95,104 177,493 186,473 93,948
Total compiled receipts ....................... 211,753 79,932
1,665,090 91,265 214,266 215,220 195,231 91,425 96,325 180,030 188,200 95,985 214,611 82,492 -
Cost of goods sold and of operations .. ........ 1, 118,429 64,320 146,232 145,370 130,873 60,387 65,738 121,074 130,293 62,462 139,573 52,107 -
Compiled net profit or net loss ............... 41,303 1338 2,136 3,632 5,003
Net incone or deficit ......................... 2,767 1,492 5,032 6,31:8 4,833 8,141 2,287 -
41,295 '338 2,136 3,632 5,000 2,767 1,492 5,029 6,316 4,833 8,141
Total t . ..................................... 19,522 2,287
215 1,002 1,515 1,783 1,124 796 2,723 3,155 2,349 3,893 -
Dividends paid in cash and assets other than 967
tnrn stock .................................... 10,6 148 750 872 831 426 239 917 794 877 2-742 2,068
TRADE: RETAIL: EATING AND
DRINKING PLACES
Number of returns with balance sheets ......... 15,355 6,394 3,573 992 290 71 36 14 7 6 -
1~m
(Th...-d ~11...
Cash- ... ****;~;j.,re.ejv.---***
a.. ........ 132,771 12,929 12,293 15,156 24,540 14,402 7,902 11,644
Note. and ble less reserve.... 69,061 4,681 7,842 10,044 13,581
10,154 11,977 11,774
Inventories ................................... 10,512 6,335 4,945 4,640 3,134 3,347
80,474 14,435 12,370 10,961 10,985 8,109 3,035 4,716
Investments ................................... 4,060 4,569 7,234
58,076 1,826 2,857 4,332 7,170 7,515 4,185 6,950 6,303
Capital assets less reserves .................. 3,355 13,583
507,435 59,560 75,928 83,430 93,532 56,221 24,431 24,435 24,516 23,111
Total assets-Tatal liabilities ............... 52,271
910,513 104,500 125,188 134,865 148,727 102,884 48,975 54,727 51,408 47,847 91,392
Accounts and notes payable .................... 224,958 37,705 35,900 39,995 41,125 25,583 9,739 10,761 8,624 4,683 10,843
Bonds and mortgages payable .................... 159,045 24,725 29,038 29,122 25,587 15,014 5,856 3,245 8,133 9,039 9,286
Capital stock ................................. 248,785 54,306 44,150 35,902 31,067
Surplus and undivided profits ................. 19,217 7,376 9,915 8,791 9,986 28,075
170,374 126,946 31 11,920 33,505 31,398 20,259 25,473 19,647
Gross sales and gross receipts from operations 2,505,058 19,515 35,572
449,386 373,908 387,585 412,667 231,8" 119,101 149,357 127,590 104,968
Total compiled receipts ....................... 2,538,883 148,652
453,359 377,064 393,177 418,221 237,628 121,262 152,246 129,096 105,923 150,907
Cost of goods sold and of operations .......... 1,298,537 246,169 190,387 195,778 206,972 119,702 57,336 78,096 57,955 54,801 91,341
Compiled net profit or net loss ............... 32,862 17,594 13,706 950 7,988 6,557 4,962 6,410 7,738 3,566 5,991
Net income or deficit ......................... 32,843 17,594 13,706 950 7,988 6,554 4,958 6,403 7,738 3,564 5,988
Total tax ..................................... 25,451 614 1,169 2,248 3,591 3,1_19 2,350 3,276 3,713 1,884 3,487
own stock .................................... 1.1,411 660 541 L48 1,017 1,227 573 1,112 1,719 1,174 2,449 1
TRADE: RETAIL: BUILDING MATERIAIS
AND HARDWARE
Number of returns with balance sheets ......... 15,209 2,056 2,513 3,492 4,801 1,557 515 225 33 16 1
(7h-.-d d.11...
Cash .......................................... 203,502 3,270 10,087 22,632 60,242 40,423 24,802 23,653 10,691 7,038 664
Not es and accounts receivable less reserve .... 776,263 6,115 20,363 59,607 217,739 174,865
Inventorie ................................... 121,146 111,142 33,959 28,759 2,568
976,308 12,375 46,379 1-18,737 306,309 185,594 119,779 107,902 37,691
Investments ................................... 35,759 5,783
132,546 200 1,290 5,584 27,191 30,902 20,579 24,925 11,894
Capim assets less reserves .................. 7,303 2,678
414,572 4,586 14,659 41,804 123,771 86,716 54,099 50,984 15,497 19,647
Total assets-Total liabilities ............... 2,554,967 2,809
27,912 95,028 254,946 749,817 529,311 347,371 324,098 11-1,650 100,154 14,680
Accounts and notes payable .................... 579,221 12,334 27,536 62,810 169,249 118,846 75,223 68,397 23,675 16,495 4,656
Bonds and mortgages payable ................... 153,493 1,948 5,924 19,081 47,201
Capital stock ................................. 32,322 20,068 19,174 4,004 3,542 229
738,133 16,102 44,442 96,839 225,320 137,329 83,265 79,453 24,394
Surplus and undivided profits ................. 28,683 2,306
944,126 14,887 12,442 64,220 271,498 212,150 147,698 137,427 52,569 44,170
Gross sales and gross receipts from operations 4,835,149 6,839
86,241 219,705 520,982 1,449,715 1,004,171 658,267 556,482 171,105 151,165 17,316
Total compiled receipts ....................... 4,920,747 87,080 222,259 527,7a7 1,472,904 1,021,822 670,605 570,244 175,612 154,952 17,482
Cost of goods sold and of operations .......... 3,734,717 62 641 163,565 398,240 1,126,623 782,620 508,091 427,964 132,056 1-19,391 13,526
Compiled net profit or net loss ............... 122,785 12,615
, 11,141 4,482 31,663 28,840
Net income or deficit.. ....................... 23,462 23,351 6,833 7,261 649
122,755 12,61-5 11,141 4,482 31,661 28,625 23,456 23,344 6,833 7,261
Total t ax ..................................... 649
56,240 291 883 2,920 12,488 1-1,586 10,109 10,822 3,394 3,436 311
own stock .................................... 24,739 1 952 1 1,357 1 1,451 1 6,071 4,192 4,026 3,905 1,314 1,320 1 151
See footnotes at end of table. See text for explanatory statements and for -Description of the Sample and Limitations of Data."
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T.ble O.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS,
BY MAJOR INDUSTRIAL GROUP-Continued
Major industrial group, selected its= $25,000 $50,000 $100,000 $250,ODO

Under $500,ODO $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,ODO,000
Total =der under under =der under under =der under under under under $250,000,000
$25,000 under
$50 ODO $100,000 $250 000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,OOOoOOO $50,000,000 $100,000,000 $250,000,000 or more
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
TOTAL FINANCE
Number of returns with balance sheets ......... 44,611 6,384 3,122 3,413 5,402 3,804 4,058 6,825 4,658 3,241 2,214 767 347 231 145
(77-d d.11-
Cash .......................................... 47,956,741 18,668 22,426 32,569 96,059 119,277 356,905 1,762,556 2,713,185 3,5(Y7,824 4,751,140 3,579,951 3,499,625 5,664,228 21,832,328
Notes and accounts receivable less reserve .... 100,455,908 24,276 47,003 111,020 447,822 773,0`77 1,273,424 3,664,104 4,935,715 5,959,084 8,794,906 7,181,775 6,936,701 12,087,900 48,219,101
Inventories ................................... 2,482 363 165 221 397 8 119 88 - 36 147 251 - -
687
Investments .................................... 141,562,836 16,567 25,874 70,855 277,821 401,919 1,207,449 5,533,117 8,620,937 12,868,968 20,025,979 14,895,559 13,144,798
Capital assets less reserves .................. 17,071,554 47,401,439
3,237,340 6, 112 8,173 17,943 48,265 53,113 72,673 153,439 200,890 262,883 386,523 380,776 232,626 296,796 1,117,128
Total assets-Total liabilities ............... 295,175,246 69,841 U1,011 244,616 893,734 1,376,000 2,953,424 11,183,998 16,599,088 22,675,906 34,050,728 26,186,366 23,904,926 35,462,696 119,462,912
Acoamts and notes payable .................... 8,595,793 15,492 25,908 46,802 220,824 361,426 481,217 876,585 594,660 652,928 738,936 516,808 602,354 709,175 2,752,678
Bonds and mortgages payable ................... 7,961,130 6,838 9,392 33,464 93,718 147,794 241,671 675,058 452,047 476,274 632,640 591,385 378,0179 594,391 3,628,379
Capital stock ................................. 10,534,619 62,201 70,526 96,698 319,893 303,778 456,148 1,332,443 707,004 719,503 1,108,110 744,619 668,456
Surplus and undivided profits ................. 727,355 3,217,885
23,806,591 156,395 15,191 119,131 115,832 226,479 419,541 441,725 1,373,430 1,797,408 3,008,645 2,237,051 2,366,762 3,148,065
Gross sales and gross receipts from operations 8,752,370
2,589,471 17,541 22,518 30,427 105,143 113,703 112,293 267,332 146,647 149,020 192,681 161,039 128,761 217,440 924,926
Total compiled receipts ....................... 12,395,254 31,715 36,319 57,864 199,020 242,456 301,070 762,833 782,860 969,482 1,476,777 1,107,730 991,099 1,352,415 4,083,614
Cost of goods sold and of operations .......... 257,475 3,905 10, 0`70 8,508 43,882 23,712 3.8,292 127,309 10,992 621 1,015 2,001 998 6,141 29
Compiled net profit or net loss ............... 3,860,962 2,853 602 8,258 37,472 48,707 68,424 166,524 224,931 257,781 440,307 313,904 362,103 430,793 1,498,303
N t income or deficit ......................... 3,604,498 2,853 597 8,218 37,294 48,214 66,860 158,564 208,852 234,924 412,661 293,165 338,331 403,795 1,390,150
Mal tax ..................................... 1,221,751 1,351 1,434 2,740 10,373 14,851 19,903 42,982 58,588 76,673 1-14,111 87,001 81,167 136,436 574,141
0- stock .................................... 1,515,658 3,450 10,455 4,535 15,883 13,009 24,092 58,220 84,730 79,891 187,393 128,486 187,738 143,046 574,730
FINANCE: BANKS AND TRUST CCMPANIES
Number of retwns with balance sheets ......... 14,374 402 120 86 106 275 1,283 4,018 3,317 , 2,180 1,481 528 257 191 130
(rh-d doll-
Cash .......................................... 44,333,812 2,725 2,690 2,298 2,888 27,522 225,343 1,467,962 2,384,973 3,023,052 4,008,457 3,125,628 3,207,099 5,386,448 21,466,727
Notes and accounts receivable less reserve.... 84,932,857 429 689 1,048 4,297 41,443 361,298 2,257,558 3,842,768 4,891,575 7,654,655 6,224,477 6,217,588 10,977,627 42,457,405
Inventories .......................... - - - - - - - - - - - -
Investments .......................... 99,993,799 723 122- -923 -10,605 38,441 390,226 2,928,911: 5,375,139 7,251,073 10,733,991 8,464,613 8,259,172 12,920,323 43,619,537
Capital assets less reserves .................. 2,186,308 583 475 1,266 1,122 1,115 5,219 52,105 88,161 153,366 21-5, 112 168,134 165,254 262,178 1, 0`72, 218
Total assets-Total liabilities ............... 232,820,380 4,646 4,154 5,544 19,099 109,444 983,123 6,723,795 11,766,380 15,351,163 22,671,977 18,073,488 17,917,788 29,718,143 109,471,636
Accottnts and notes payable .................... 121,428 342 269 258 121 12 1,395 3,915 4,764 5,849 4,450 6,128 1,198 2,739
Bonds and mortgages payable ................... - - 89,988
55,082 356 - - - 500 821 250 662 889 18,154 10,417
Capital stock ................................. 23,033
4,334,717 2,979 1,085 2,031 7,260 8,150 39,683 179,670 275,857 322,373 440,140 31-5,537 282,904 449,968 2,006,880
Surplus and undivided profits ................. 14,479,193 55 242 1,679 5,402 12,897 73,033 437,033 680,807 868,871 1,327,716 1,047,965 1,071,248 1,843,485 7,108,760
Gross sales and gross receipts from operations 893,597 3,238 2,796 1,100 4,350 1,414 5,525 28,271 37,215 56,540 99,932 70,385 56,927 115,447 420,457
Total compiled receipts ....................... 7,176,087 4,512 2,817 1,547 6,396 6,284 39,326 233,238 383,469 500,253 754,382 591,881 550,521 937,656 3,163,803
Cost of goods sold and of operations .......... 1,217 747 83 295 - - - 41 - - - - -
22 29
Compiled net profit or net loss ............... 2,297,577 316 121.3 89 988 1,464 11,616 70,901 118,036 154,432
Net income or deficit ......................... 218,858 169,292 154,067 265,614 1, 132, 117
2,057,662 316 '213 84 982 1,399 10,492 64,568 102,912 133,221 192,557 149,422
Total tax ..................................... 138,264 239,243 1,024,435
868,043 95 14 38 304 409 3,192 19,853 35,531 52,921 79,650
Dividends paid in cash and assets other than 63,248 57,538 102,975 452,275
oen stock .................................... 518,318 115 - 35 384 319 4,449 15,786 24,554 31,482 38,854 29,186 32,943 49,854 290,357
FINANCE: CREDIT AGENCIES OTHER THAN BANKS
Number of returns with balance sheets ......... 22,481 3,998 2,179 2,416 3,967 2,732 2,151 2,143 1, 0`76 925 61.1 188 61 26 a
(Th-d ~Jl...
Cash .......................................... 2,958,969 11,087 13,409 18,240 62,860 59,952 92,560 225,248 258,724 434,639 643,294 387,189 218,541 226, 107 307, 119
Notes and accounts receivable less reserve .... 14,636,483 21,362 41,451 98,746 410,710 678,484 868,238 1,294,873 1,016,687 984,294 989,198 892,280 575,249 1,069,569 5,695,342
Inventories ................................... 1,057 -363 163 117 275 - 6 88 - - - -
45 -
Investments ................................... 29,499,904 8,797 12,794 37,591 139,543 206,294 507,685 1,860,326 2,522,785 -4,9 2,7$6
Capital assets less reserves. ................. 7,673,692 5,016,220 3,041,772 2,396,619 1,183,000
604,3_30 2,377 4,332 9,501 30,622 20,517 32,263 50,824 52,925 66 573 122 246 104 751 56,820 33,070 17,509
Total assets-Total liabilities ............... 47,978,805 46,360 77,830 174,281 663,356 983,677 1,519,442 3,467,480 3,887,512 6,405,967
, 9,449:616 6,425,570 3,903,207 3,741,427 7,233,080
Acco=ts and notes payable .................... 6,963,118 9,239 19,4_34 35,949 196,658 296,444 407,003 699,529 491,522 553,629 571,518 391,525 423,494 536,291 2,330,883
Bonds and mortgages payable ................... 6,696,324 5,164 6,931 25,844 79,618 133,320 215,760 376,154 370,314 41.3,942 506,61-2 476,787 184,733 447,973 3,453,172
Capital stock ................................. 2,081,474 40,099 39 455 '61,488 208,037 191,296 231,934 308,386 104,654 145,426
Surplus and =divided profits ................. 153,670 124,305 44,602 82,845 345,277
3,740,317 112,508 61352
, 871 30,542 58,361 133,504 202,691 346,852 295,567 487,162 646,708 473,451 257,988 247,948 626,783
Gross sales and gross receipts from operations 1,277,401 6,911 5, 14 516 47 636 70,585 68,597 92,214 68,696 82,549 88,596 69,236 57,302 101,033 483,657
Total compiled receipts ....................... 3,408,703 12,698 11,961 29,083 102:177 156,832
, 171,289 273,589 266,814 361,498 493,954 361,716 213,536 251,593 701,963
Cost of goods sold and of operations .......... 27,438 997 671 317 5,974 3,354 1,853 -
2,569 4,530 504 480 48 6,141 -
Compiled net profit or net loss ............... 528,995 592 '735 3,179 16,071 28,913 25,912 34,814 23,649
Net income or deficit ......................... 33,251 36,008 37,034 21,342 54,600 214,365
527,461 592 1735 3,174 15,951 28,856 25,772 34,626 23,592 33,085 35,909 36,887 21,192 54,595
Total t ax ..................................... 213,965
248,264 621 767 1,330 6,165 10,856 11,423 14,341 10,950 14,762 15,925 17,462 9,846 27,376 106,440
oen stock .................................... 200,498 1,874 5,658 1,116 3,720 4,764 5,297 6,785 5,252 5,356 10,363 10,876 6,614 2_1 914 110.909
See footnotes at end of table. See text for exploratory statements and for "Description 'of the Sample and Limitations of Data.$'
Table 6-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Coatiead
Si.e of total assets
Major Indi trW group, selected items $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,C)00,000 $lO,OOO,OoO $25,000,000 $50,000,ODO $100,000,000
Under $250,000,000
Total -der under under -der under under under under under under under under
$25,000
$50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $lOO,000,OOO $250,000,000 - -a
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
FINANCE: HOLDING AND OTHER INVESTMENT
CCUPANIES
Number of returns with balance sheets ......... 6,212 1,668 578 699 1,080 564 516 551 238] 112 46 25 11 6
(Th--d d.11...
Ca h 515,874 4,068 2,898 7,108 19,819 16,794 28,403 48,182 55,201 33,937 86,247 57,518 66,718 42,662 46,319
Not and a. i . ble less reserve .... 544,618 1,847 2,993 6,508 24,842 24,548 33,619 65,047 44,770 47,108 116,206 36,358 106,416 32,026 2,330
Inventories ................................... 1,425 2 104 122 8 113 - 36 147 206 687 - -
Investments ...................................
Capital 10,813,166 -6,615 10,738 28,123 110,469 125,166 266,749 656,395 -680,0 7 654,672 1,528,420 1,293,063 1,641,232 1,405,716 2,405,801
assass eta less reserves .................. 393,480 2,683 2,592 6,164 14,989 28,556 30,726 48,317 59,123 38,922 31,796 90,580 10,342 1,528 27,162
Total eta-Total liabilities ............... 12,396,783 16,137 20,342 49,421 173,072 202,240 377,704 826,645 853,981 788,396 1,771,144 1,508,612 1,831,676 1, 489, SOO 2,487,613
Accoun and notes payable .... : ............... 604 976 5 019 3,472 4,975 7,955 22,470 46,432 69,242 47,971 23,084 91,316 47,656 98,064 10,378 126,942
Capital
.. and ts mortgages payable ... ............... 939,987
' 11663
' 1,529 6,892 11,339 11,9_34 18,849 293,311 78,262 53,348 105,505 91,459 61,934 51,788 152,174
Surplus stock ................................. 3,973,226 16,526 25,557 24,629 96,583 92,980 171,483 826,792 317,993 237,467 496,561 295,653 327,427 183,472 860,103
and undivided profits ................. 5,334,5.36 143,017 112,277 10,441 47,538 64,254 127,332 1371,675 3r72,973 410,615 999,197 664,254 1,022,224 1,042,933 999,744
Gross a lea and gross receipts from operations 62,107 2,535 2,285 49 3,240 1,080 5,563 2,331 8,639 3,875 5,327 3,556 2,225 590 20,812
Total =;iled receipts ....................... 1,265,770 8,167 8,683 7,796 27,917 21,404 41,726 80,133 110,536 83,600 204,045 123,305 199,019 146,972 202,467
Cost of goods sold and of operations .......... 14,608 530 2,005 22 1,664 365 140 394 5,907 1-17 513 1,953 998 -
Compiled net profit or net loss ............... 960,902 2,059 1,435 4,536 16,632 13,414 26,251 50,916 78,0141 62,979 177,793 101,872 172,856 106,743 -145,375
Net income or deficit ......................... 957,085 2,059 1,434 4,534 16,602 13,360 26,078 50,432 77,416 62,137 176,915 101,446 172,855 106,442 145,375
Total 82,770 588 500 1,107 2,999 2,143 3,605 5,446 10,428 6,482 15,81.1 4,403 11,850 5,073 12,335
Dividends
ta~ -paid in cash and assets other
~ - i ........................ - than
......
0,wn stock .................................... 786,252 1_460 4,714 3,235 11,393 7,570 13_614 34,285 54,288 41,811 137, 187 87,744 147,729 70,571 170.651
FINANCE: SECURITY AND CCMMODITY-EXCRANGE

BROKERS AND DEALERS
Number of returns with balance sheets ......... 1,544 316 245 212 249 233 1081 Z7 is 10 5 3 1
(?~-d d.11 ...
Gash .......................................... 148,086 788 3,429 4,923 10,492 15,009 10,599 21,164 14,287 16,196 13,142 9,616 7,267 9,01-1 12,163
Notes and accounts receivable less reserve .... 341,950 638 1,870 4,718 7,973 28,602 10,269 46,626 31,490 36, 10`7 34,847 28,660 37,448 8,678 64,024
Inventories ................................... - - - - - - - - - -
Investment:,~; ............... - .............. -1,251,967 432 2,220 4,218 17,204 32,018 42,789 87,485 43,D06 -70,437 -89,876 121,663 -202,62 348,896 -193,101
Capital as less reserves .................. 53 222 469 774 1,012 1,532 2,925 4,465 2,193 681 4,022 17,369 17,311 210 20 239
Total assets-Tatal liabilities ............... 1,979,278
' 2,698 8,685 15,370 38,20`7 80,639 73,155 166, 0`78 91,215 130,380 157,991 178,696 252,255 513,326 270,583
Accounts and notes payable.. .................. 906,271 892 2,733 5,620 16,090 42,500 26,387 103,899 50,403 70,366 71,652 71,499 79,598 159,767 204,865
Bonds and nortgages payable ................... 269,737 11 576 728 2,761 2,-540 7,062 5,093 2,650 8,734 19,861 22,250 113,258 94,213 -
Capital stock................................. 145 202 2 597 4,429 81550 8,013 11,352 13,048 17,395 8,500 14,237 17,739 9,124 13,523 11,070 5,625
252'1545 1925 492 709 4,531 15,824 16,485 29,515 24,083 30,760 35,024 51,381 15,302 13,699 17,083
Surplus and undivided profits .................
Gross sales and gross receipts from operations 356,366 4,857 11,566 14,760 49,917 40,624 32,608 144,516 12,097 6,056 8,826 17,862 12,30`7 WO -
Total compiled receipts ....................... 544,694 6,338 12,858 19,438 62,528 57,936 48,729 175,873 22,041 24,131 24,396 30,828 28,023 16, I~M 15,381
Cost of goods sold and of operations .. ........ 214 212 11631 7,311 7,874 36,244 19,993 16,299 124,305 555 - - - -
Compiled net profit or net loss .............. 73,488
' 114 115 454 3,781 4,916 4,645 9,893 5,205 -7,1 9 7,648 5,706 13,838 -3,836 6,"6
Net income or deficit ........................ 62,270 1114 ill 426 3,759 4,599 4,518 8,938 4,932 6,481 7,300 5,410 6,020 3,515 6,375
Total tax ..................................... 22,674 47 153 265 905 1,443 1,683 3,342 1,679 2,508 2,725 1,988 1,933 1,012 3,091
own stock .................................... 10,590 1 83 149 386 356 732 1,364 636 1,242 989 680 452 707 2,813
TOTAL INSURANCE CARRIERS' AND AGENTS
Number of returns with balance sheets ......... 11,391 3,726 1,686 1,837 1,562 706 430 419 258 220 235 ill 92 53 56
(7h...d d.11...
Gash .......................................... 2,922,656 11,081 13,816 29,410 57,714 54,157 57,887 115,188 139,605 175,761 260,502 240,466 255,306 280,717 1,231,046
Notes and accounts receivable less reserve.... 775,873 17,600 28,817 58,548 101,894 71,495 49,489 56,681 58,669 33,361 91,087 35,779 53,126 16,416 102,911
Inventories ................................... 16,944 1 3 9 401 - 5 25 232 1,657 - - 14,611
Investmants ................................... 96,399,865 2,50'7 5,639 14,597 37,804 88,049 -159,50 402,459 619,400 1,184,409 2,850,910 3,165,859 5,495,333 -6,929,810 75,443,589
Capital assets less reserves.. ................ 1,028,425 6,220 10,063 19, M 33,813 20,41.1 24,022 35,492 40,705 64,684 67,384 79,036 109,361 77,788 439,616
Total assets-Total liabilities ............... 106,491,383 40,160 62,257 129,861 245,816 249,624 307,095 665,432 915,224 1,598,368 3,597,170 3,838,981 6,517,375 7,899,448 80,424,572
Accounts and notes payable .................... 674,147 19,683 26,959 54,627 102,584 78,443 54,943 70,738 62,243 13,939 104,298 9,457 52,552 23,681
Bonds and mortgages payable ................... 64,158 1,855 2,024 3,569 8,869 4,240 1,032 2,595 9,120 4,430 16,524 4,206 299 -229 5,166
Capital stock ................................. 1,523,610 11,608 14,41-2 Z7,632 38,IY70 ",502 39,205 64,774 8lo628 97,309 135,574 124,646 204,394 205,679 433,287
Surplus and undivided profits ................. 11,606,819 1,660 13,499 31,OC)6 62,978 67,476 104,297 189,612 263,330 421,580 872,394 825,022 1,359,794 1,382,478 6,011,71.3
Gross sales and gross receipts from operations 7,558,912 69,415 58,956 111,232 170,357 113,916 1-10,132 178,186 217,381 387,932 775,476 791,656 1,225,340 1,517,710 1,831,223
Total compiled receipts.. ..................... 11,196,600 72,121 60,967 115,769 176,930 121,687 121,029 200,609 252,263 437,579 884,493 912,61.2 1, "1, 219 1,761,425 4,637,897
Cost of goods sold and of operations .......... 2,888,828 17,473 8,636 18,938 37,072 27,914 26,168 57,594 76,109 147,038 329,354 301,422 428,004 609,218 803,888
Compiled net profit or net loss ............... 3,565,798 3,122 3,W 8,944 14,731 1-2,887 16,955 24,099 33,004 51,906 109,684 149,388 248,114 311, 871 2,578,045
Net income or deficit ......................... 3,449,701 3,122 3,048 8,943 14,705 12,765 16,569 23,178 31,307 47,553 99,311 139,221 234,902 294,061 2,521,016
Total t ax ..................................... 487,128 1,314 1,297 3,098 5,689 4,434 6,102 9,066 12,754 15,287 29,403 42,748 59,890 79,101 216,945
~ stock .................................... 298,679 1,215 505 2,403 3,318 3,611 4o826 5,065 8,621 8,706 13_640A 27,495 53,239 1 51,048 114,987
Table 6.,SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAQX, AND DIVIDENDS PAID,
BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued

Iftjor industrial group, selected items
Under $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,0()0,000
Total =der =der -der under under under -der =der $250,000,000
$25,000 under under =der under
$50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $250,000,000 or more
(1) (2) (3) (4) (5) (6) (7) (a) (9) (10) (12) (13) (14) (15)
INSURANCE CARRIERS'
Number of returns with balance sheets ......... 110 45 83 183 309 275 352 227 215 226 110 91 53 56
(7hw.o,d dollars)
Cash .......................................... 2,668,756 194 608 1,701 8,867 24,351 37,613 90,629 102,195 170,154 238,490 230,691 251,501 280,717
Notes and accounts receivable less reserve .... 255,369 267 5 249 731 5,386 1,231,046
5,500 8,269 19,998 17,932 1-5,223 20,668 41,814 16,416 102,911
Inventories ................................... 16,530 - - - - - ~ 5 25 232 1,657 - 14,611
Investments ................................... 96,194,203 377 1,058 -2,251 18,261 63,734 L34,829
Capital assets less reserves .................. 383,474 601,987 1,178,735 2,838,722 3,162,805 5,434,571 -6,92 ,810 75,443,589
915,203 325 28 1,041 2,228 7,908 12,558 29,019 35,298 60,039
Total assets-Total liabilities ............... 105,341,38? 62,287 78,479 -108,589 77,788 439,616
1,193 1,852 5,431 33,359 111,505 203,968 563,999 811,922 1,563,388 3,470,482 3,809,611 6,440,657 7,899,448 80,424,572
Aceounts and notes payable .................... 114,717 169 - 149 ill 6,073 3,696 6,537 6,651 3,056 10,659 9,457 44,478 - 23,681
Bonds and mortgages payable ................... 32,913 231 - 31 202 1,203 Z74 744 4,794 4,005 11,529 4,206 299 229 5,166
Capital stock ................................. 1,368,438 511 480 1,063 9,574 25,726
Surplus and =divided profits ................. 26,772 55,013 75,964 94,150 134,379 123,296 182,544 205,679 433,287
11,352,781 '565 834 1,665 9,656 38,783 75,442 173,597 250,402 414,909
Gross sales and gross receipts from operations 6,789,638 861,906 818,762 1,313,199 1,382,478 6,011,713
2,195 28 2,551 11,114 16,999 41,558 114,406 163,917 345,611 749,152
Total compiled receipts ....................... 10,388,902 778,503 1,214,671 1,517,710 1,831,223
2,243 81 2,748 12,010 20,698 47,908 134,037 197,445 394,016 855,739 897,653 1,425,002 1,761,425 4,637,897
Cost of goods sold and of operations.. ........ 2,750,216 941 17 602 4,907 5,717 15,478 47,362 62,274 141,217 329,269 301,422 428,004 609,218 803,888
Compiled net profit or net loss ............... 3,493,526 101 11 368 1,074 3,891
Met ineme or deficit ......................... 7,090 17,884 29,051 49,871 105,368 147,022 241,891 311,871 2,578,045
3,377,479 101 11 367 1,049 3,780
Total tax ..................................... 6,704 16,964 27,377 45,520 94,995 1,36,855 228,691 294,061 2o521,016
458,533 26 24 136 947 1,148 1,905 6o235 9,984 14,356
Dividends paid in cash and assets other than 27,358 41,953 58o415 79,101 216,945
om stock .................................... 278,982 12 - 128 133 564 2_600 3,474 7,654 8,198 12,771 26,226 51,187 5_1 048 114,987
INSURANCE AGENTS AND BROKERS
Number of returns with balance sheets ......... 9,056 3,616 1,641 1,754 397 155 67 31 9 1 1 -
(Thousand oA,11...)
Cash .......................................... 253,900 10,887 13,208 Z7,709 48,847 29,806 20,274 24,560 37,410 5,607 22,012 9,775 3,805
Notes and accounts receivable less reserve .... 520,504 17,333 28,812 58,299 101,163 66,109 43,989 48,412 38,671 15,429 75,864 15,111 11,312
Inventories ................................... 414 1 3 9 -
401 - - - - -
Investments ................................... 205,662 2,130 4,581 12,346 19,543 -
24,315 24,671 -18,985 17,413 5,674 12,188 3oO54 60,762
Capital assets less reserves .................. 113,222 5,895 10,035 18,789 31,585 12,503 11,464 6,473 5,407 4,645 5,097 557 772
Total assets-Total liabilities ............... 1,149,996 38,967 60,405 124,430 212,457 138,119 103,127 101,433 103,302 34,980 126,688 29,370 76,718
Accounts and notes payable .................... 559,430 19,514 26,959 54,478 102,473 72,370 51,247 64,201 55,592 10,883 93,639 - 8,074
Bonds and mortgages payable ................... 31,245 1,624 2,024 3,5.38 8,667 3,037 758 1,851
Capital stock ................................. 4,326 425 4,995 - -
155,172 11,097 13,932 26,569 29,396 18,776 12,433 9,761
Surpluts and undivided profits ................. 5,664 3,159 1,195 1,350 21,840
254,038 2,225 l2o665 29,341 53,322 28,693 28,855 16,015
Gross sales and gross receipts from operations 12,928 6,671 10,478 6,260 46,585
769,274 67,220 58,928 108,681 159,243 96,917 68,574 63,780 53,464
Total compiled receipts ....................... 42,321 26,324 13,153 10,669
807,698 69,878 60,686 1.13,021 164,920 100,989 73,121 66,572 54,818 43,563 28,754 14,959 16,217
Cost of goods sold and of operations .......... 138,612 16,632 8,619 18,336 32,165 22,197 10,690 10,232 13,635 5,821 85 - -
Compiled net profit or net loss ............... 72,272 3o021 3,049 8,576 13,657 8,996 9,865 6,215 3,953 2,035 4,316 2,366 6,223
Net income or deficit ......................... 72,222 3,021 3,049 8,576 13,656 8,985 9,865 6,214 3,930 2,033 4,316 2,366 6,211
Total tax ..................................... 28,595 1,288 1,273 2,962 4,742 3,286 4,197 2,831 2,770 931 2,045 795 1,475
own stock .................................... 19,697 1,203 505 2,275 3,185 3,047 2,226 1.591 967 508 869 1,269 -
2,052
REAL ESTATE, EXCEPT LESSORS OF REAL
PROPERTY OTHER THAN BUILDINGS
Number of returns with balance sheets ......... 126,863 25,167 22,464 26,550 30,166 12,369 6,004 2,934 847 251 92 14 4 1
(M-.-d doll...
Cash,,;,~~*..~;~;i.,re~;,**,*,*,***,,*** ....... 1,437,394 46,085 80,739 156,314 296,041 239,252 194,416 176,886
Note. ivable less reserve .... 121,087 49,700 42,498 23,214 5,817 5,345
2,365,347 39,522 88,081 202,782 471,950 379,2.34 402,522 363,426
Inventories ................................... 209,927 91,942 79,618 29,417 3,070 3,856
26,372 704 2,096 890 4,841 12,275 2,430 1,626 510
Investments ................................... 226 349 425 - -
5,682,374 29,765 95,260 257o257 749,555 803,552 754,336 908,281 732,229 636,127
Capital assets less reserves .................. 327,498 161,372 81,592 145,550
17,302,123 181,407 525,198 1,240,031 3,123,462 2,693,774 2,675,901 2,805,672 1,761,399 911,379 883,385
Total assets-Total liabilities ............... 27,669,318 303,203 195,357 1,955
310,952 822,832 1,917,472 4,781,276 4,254,347 4,138,150 4,390,076 2,931,553 1,726,576 1,406,756 533,050 293,720 162,558
Accounts and notes payable .................... 4,056,139 66,573 146,855 328,3aO 793,271
Bonds and mortgages payable ................... 729,478 666,996 580,859 398,032 173,030 133,701 33,059 2,932 2,973
13,533,323 87,296 270,715 670,316 1,932,798 1,926,402 1,999,505 2,411,498 1,740,461
Capital stock ................................. 958,628 890,904 336,178 175,015 1.33,607
4,253,280 150,344 243o68O 470,941 929,653 612,768 536,000 559,945 314,525 22S,DO0
Surplus and =divided profits ................. 4,078,048 119,527 55,998 13,002 18,897
'25,775 89,746 296,765 780,999 714,724 671,050 538,028 353,026 294,584
Gross sales and gross receipts from operations 2,092,444 213,227 77,325 73,380 969
125,368 132,833 201,502 341,837 255,507 246,564 219,981 1-35,999 150,270 130,095
Total compiled receipts.. ..................... 5,524,211 80,969 47,238 24,281
234,757 312,145 562,771 1,109,087 848,780 749,566 692,783 414,214 223,681 186,552 105,668 57,989 26,218
Cost of goods sold and of operations .......... 592,384 55,187 65,134 96,791 147,736 101,031 71,651 27,298 14,477 1,884 2,611 6,677 -
Compiled net profit or net loss ............... 776,014 9,915 39,323 1, 90`7
66,607 190,665 137,928 106,271 84,232 40,682 37,595 20,351 11,686 11,808 11,049
Net income or deficit.. ....................... 774,745 9,915 39,320 86,598 190,560 137,879 106,123 84,013 40,573 37,440 20,301 11,641 11,431 11,049
Total tm ..................................... 310,692 5,225 13,703 29,713 65,010 49,480 42,235 42,710 24,507 18,197 11,343 4ol96 4,373 -
own stock.................................... 151,666 6,091 6,323 10,236 24,624 28,856 21,457 20,727 1 1-2,183 1 9,185 5,823 1 3,383 1 2,400 1 378 1
See footnotes at end of table. See text for explanatory statements and for -Description of the Sample and
Limitations of Data." 01
Table a.-SFLECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND Dr,/IDKNDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Casti-d
~Ize of total assets
Iftjor induutrial group, selocted Items $25,000 $50o= $lOOoCO0 $250,000 $500o= $1,OOOoOCO $2,500 $lO,OOOoCOO $25oOOO,OO0 $50,000,000 $lOOoOO0,OOO
Under $25OoO0O,OOC
Total Under under -der under $l'0WoOCC
under $2,5W,
under OUC'OCC
'0GO $,,,0.,0().
Under "'Me~o $2,under $50,000,OW
under $100,000,000
under $25O'OOO'OUO
under
$25,000 or more
$50,000 $100,000 $250,000 $500,000 000 $5, oDO0,000
(1) (2) (3) (4) (5) (6) (7) (a) (9) (10) (12) (14) (15)
LESSCRS CF REAL PROPERTY, EXCEPT BUILDINGS
Number of returns mith balance sheets ......... 4o3O7 1,363 756 736 369 194 158 49] 51 33 9
(n--d d.11... )
Cash .......................................... 95,945 2,777 4,241 5,869 12,9017 9,983 9,633 15,750 3,198 10,620 13,304 1,489 5,299 975
Not a and accounts receivable less reserve .... 99,464 1,477 2,963 2,468 11,940 5,091 4,959 6,469 4,108 8,669 35,933 1, 064 l4ol28 195
Inv=ies ................................... 2, 067 13 25 480 - 192 358 299 - 700 - -
Investments.... ............................... 314,009 lollo 3,344 -6,063 12,304 24,418 16,872 40,S47 48,292 32,425 30,376 -798 34,824 62,336
Capi7l assets less reserves .................. 2,561,420 9,167 15,060 26,341 74,140 83,215 95,270 151,043 112,703 277,784 478,499 66,061 542,074 630,063
Total assets-Total liabilities ............... 3,140,904 15,621 26,420 42,211 1.15o538 125o650 132,369 221,437 l7lo778 333,065 569,290 70,264 613,861 703,410
Accounts notes payable .................... 175,501 2,878 4,566 6,645 llo496 8,752 12,308 19,428 15,752 20,322 24,508 635 26,981 21,230
Bonds andand
mortgages payable ................... 1,165,546 2,358 4,068 9,762 21,855 30,594 14,847 42,539 35,684 62,525 306,336 48,941 295,814 290,323
Capital stock................................. 1,172 154 19 589 23 661 28 978 69o223 84,965 58,9_39 120,425 71,349 97,487 112,437 l4o689 161,744 308,668
Surplus and undivided profits ................. 487,548
' 11019,70
' '?1163
' '5:391 19,918 13,213 42o287 26,381 36,223 144,984 102,613 4,478 100,113 67,124
Gross sales and gross receipts from operations 18,941 489 726 77 2,179 745 1,524 3,633 187 2,179 7ol3O 72 -
Total compiled receipts ....................... 289,542 4,061 6,152 4,752 21,570 18,209 24,377 36,426 11,695 26,235 59,257 -2,8 5 42,141 31,782
Cost of goods sold and of operations .......... 10,621 222 24 3 1,240 8 lo642 lo604 11 399 5,468 - - -
Compiled net profit or net loss ............... 105,358 9,74 2,777 1,484 5,174 7,833 9,571 12,118 4ol75 10,323 21,577 428 17,879 11,045
Net income or deficit ......................... 105,194 9,74 2,775 1,462 5,148 7,821 9,566 12,0`78 4,167 10,302 21,563 428 17,873 1-1,037
Total tax ..................................... 48, W 442 881 657 2,405 2,912 4,514 5, 0`78 1,788 4,323 10,639 211 9,286 5o712
own Stock .................................... 60,834 829 839 1,693 3,568 3,586 7,805 6,613 2,484 6, 902 14,197 382 1-1,748 188
TOTAL SERVICES
Number of returns with balance sheets ......... 58,117 24,676 10,282 9,519 8,288 2,788 1,316 812 262 106 45 10 4 9
(Th--d bil...
Cash.. 1,2Z7,9176 44,0178 53,670 86,801 157,016 1-13,704 110,568 149,439 103,654 96,941 89,845 43,513 28,726 150,021
Notes re. able less resex,e.... 1,420,337 46,346 75,006 122,1_18 212,874 148,462 130,115 143,348 131,373 90,444 149,910 56,953 22o928 90,460
Inventories ................................... 574,311 14,514 19,247 26,975 53,876 34,482 26,755 41,386 29,447 17,415 51,994 53,404 57,802 147,014
Inveat-t:ej ................................ 1,587,647 9,700 16,864 33,693 86,693 81,567 130,682 177,408 168,132 144o723 100,451 66,302 45,039 526,393
capital :as le a reserves .................. 4,756,193 106,036 179,243 369,296 709,519 520,273 477,486 689,687 442,779 328,276 279,532 86oO63 128,951 439,062
Total as ets-Total liabilities ............... 10,017,262 242o749 370,010 679,2" 1,293,984 955,802 915,930 1,255,752 907,440 703,352 695,304 320,673 286,853 lo390,169
Accounts and notes payable .................... 1,812,718 95,581 102,015 151,290 283,892 214,031 154,115 244,641 179,133 111,638 135,787 25,613 27,91.2 87,070
Bonds and mortgages payable ................... 2,240,858 39,558 57,533 116,718 240,722 172,500 216,391 383,403 219,476 147o338 190o220 48,200 95,041 313,758
Capital stock ................................. 1,901 994 121o418 136,972 188,501 312,398 198,955 188,713 172,988 144,251 125,348 64,679 47o362 39o204 161,195
Surplus and undivided profits ................. 3,OZ7:627 160, 105 30,292 142,720 321o409 263,155 274,388 324,526 267,019 254o792 214,896 150,631 112,428 731,476
Gross sales and gross receipts from operations 11,693,535 787,984 753,886 1,115,710 1,863,476 1,217,453 1,042o886 lol87oO84 952,091 877,211 614,342 307oS77 170,086 803,449
Total compiled receipts ....................... 12,266,571 818,136 782o225 1,157o615 1,943,198 1,278,606 1,098,540 1,258,290 997,599 904,072 639,194 320,828 187,908 880,360
Cost of goods sold and of operations .......... 6,691,609 403,740 407,165 597,147 1,054,531 713,136 610,184 653o620 568,031 498,244 295,649 230,819 97,001 562,342
Compiled net profit or net loss ............... 584,686 14,469 7,726 32,627 61,427 50,264 59,303 68,138 64,697 67,979 49,958 29,213 26,050 81,773
Net income or deficit ......................... 583,250 1114,469 7o726 32,567 61,408 50,246 59,264 68,051 64,630 67,772 49,949 28,283 26,050 81,773
Total tax ..................................... 318,653 4,237 7,468 l4o895 29,902 22,937 27,321 40,389 35,137 33,456 34o653 16,149 13,273 38o836
own stock .................................... 158,525 2,249 3ol5O 6,618 11,106 8,113 10,968 16,484 13,164 18,066 15,002 9,209 6,184 38,212
SERVICES: HOTELS AND MM L40DGDOG PLACES
Number of returns with balance sheets ......... 6,693 1,287 1,273 1,212 1,435 684 363 291 98 33 14 1 2
(Th--d bil...)
Cash .......................................... 173,952 2,509 4,729 5,225 1-3,548 17,008 18,732 32,518 24,267 16,349 9,689 4,536 24,842
Notes and accounts receivable less rese"e.... 128,870 1,410 2,735 5,775 11,0`75 19,198 16,408 13,512 18,508 14,584 6,690 9,239 9,736
Inventories ................................... 37,155 425 841 826 3,067 4,815 4,581 7,761 4,918 4,198 2,394 30 3,299
Investments ................................... 273,511 564 1,132 3,053 10,964 10,945 24,224 34,731 60,496 20,425 42,936 8,936 55,105
Capital assets less reserves .................. 1,640,847 8,015 34,670 69,335 181,212 169,%3 189,882 345,233 231,172 150,506 103,768 6,774 150,317
Total assets-Total liabilities ............... 2,343,003 14,640 46,537 $8,862 233,890 232,514 263,477 449,301 348,126 211,418 168,110 29,550 256,578
Accounts and notes payable .................... 294,662 5,383 14,319 17,932 38,762 42, S" Z7,042 52,902 32,124 29,948 15,453 1,100 16,853
Bonds and mortgages payable ................... 945,305 4,054 1.1,795 24,051 87,315 81,143 85,845 236,792 133,324 75,219 78,202 5,775 121,790
Capital stock ................................. 410,736 7,528 20,087 27,986 56,037 48,740 56,395 61,657 66,784 28,090 1-1,289 6,000 20,143
Surplus and undivided profits ................. 511,294 14,269 15,832 9,781 30,692 39,184 76,160 70,738 91,821 64,055 45,299 14,525 79,130
Gross sales and gross receipts from operations 1,564,853 39,805 56,248 75,033 180,676 183,022 192,815 279,941 187,572 144,571 100,175 2,381 122,614
Total compiled receipts ....................... 1,766,517 47,302 66,441 91,993 209,298 204,374 214,566 320,519 209,659 152,364 106,249 3,330 140,432
Cost of goods sold and of operations .......... 696 099 19 308 26,430 32,092 81,254 83,492 95 687 118,367 85,261 59,735 27,432 1,204 65,837
Compiled net profit or net loss ............... 68:671 11:758 11,545 447 889 5,126 9:481 9,136 14,310 9,142 9,800 388 13,255
get income or deficit ......................... 68,619 11,758 11,545 447 886 5,125 9,480 9,123 14,310 9,110 9,798 388 13,255
Total tax ..................................... 39,618 170 292 698 1,910 2,916 4,556 7,288 7,173 4,614 4,585 15 5,401
own stock .................................... 20,636 141 146 724 1,239 1 1, Z79 2,580 2_354 2,414 2,535 1_486_1 240 1 5,498 1
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data.-
Table O.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued
Major industrial group, selected items $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50, 000 $100,D0 000
Under
, $250,000,000
Total $under $ under under under under under ow,
under lound.r unde 0=00der undoer
$25 OCO or more
50,000 100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5 000 =der
000,000 $2510001000 $50,000,000 $100,000,000 $250,000,000
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
SERVICES: PERSONAL SERVICES
N=ber of returns with balance sheets ......... 11,5671 4,926 2,193 2,058 1,660 492 155 70 7 1
(7h-.-d &II.I.)
Cash 125,050 7,378 11,096 14,599 30,203 17,516 12,421 18,960 2,231 875 7,377 2,394
Not.. ec receivable
...... less reserve .... 157,949 7,766 13,490 23,372 40,'285 27,565 17,092 16,564 3,770 1,301 5,273 1,471
Inventories ................................... 71,337 2,99? 4,168 7,943 16,999 10,970 5,105 6,866 2,058 122 4,973 9,236
Gap
Investments 92,390 2,064 2,327 7,284 16,792 19,147 10,996 20,686 3,234 7,256 1,600 1,004
ital
as:s less reserves .................. 504,283 30,343 42,925 83,OaO 139,606 77,631 47,505 42,700 9,806 929 18,834 10,874
Total ets-Total
se liabilities ............... 1,019,406 55,085 79,613 145,535 260,035 166,212 101,478 112,697 22,055 10,597 40,953 25,146
Aceounts and notes payable.................... 187, 0`72 18,867 16,594 30,694 46,419 20,616 13,715 35,319 2,746 489 881 732
Bonds and mortgages payable ................... 125,657 8,775 12,647 20,673 30,152 17,463 12p057 13,453 3,498 2,945 1,913 2,081
Capital stock ................................. 271,540 27,863 32,075 46,215 66,531 39,096 18,404 17,712 5,~27 4,568 9,008 4,741
Surplus and undivided profits ................. 331,769 17,921 10,295 34,061 92,299 73,054 46,183 37,723 8,462 2,312 22,094 13,20`7
Total 1,803,303 174,213 180,305 294,177 469,486 270,621 157,934 123,345 34,192 3,963 64,005 41,062
compiled receipts ....................... 1,824,690 175,176 181,678 286,517 474,181 274,446 160,545 125,645 34,796 5,247 64,819 41,640
Cost of goods sold and of operations .......... 1,029,084 92,521 98,882 157,747 270,092 160,377 94,503 72,222 15,068 2,417 37,278 Z7,977
Compiled net profit or net loss ............... 63,065 12,081 1,575 5,376 14,264 10,1.19 8,317 7,828 2,176 992 8,830 5,669
Net income or deficit ......................... 63,013 12,081 1,575 5,375 14,264 10,118 8,297 7,809 2,166 992 8,829 5,669
Total tax ..................................... 29,666 596 1,374 2,455 5,247 3,993 3,697 3,645 961 145 4,552 3,001
own stock .................................... 13,672 585 600 1,025 2,826 1_811 1-534 1,479 335 67 1,657 1,753
SERVICES: BUSINESS SERVICES
Number of returns with balance sheets ......... 14,363 7,287 2,118 2,098 518 290 157 63 31 12 4 2 1
(7~~d dell-)
Cash .......................................... 370,599 15,036 12,937 27,449 49,901 36,617 34,089 35,930 39,295 35,277 33,027 20,428 9,9.34 20,679
Notes and accounts receivable less reserve .... 564,546 18,041 24,340 46,198 82,276 52,98? 47,646 65,035 75,114 46,608 65,624 19,362 16,364 4,951
Inventwies ................................... 67,538 2,255 2,421 4,615 9,482 5,839 5,794 7,811 7,073 5,365 11,315 2,636 2,927 5
Investments ................................... 422,785 3,098 4,725 10,017 21,170 18,845 46,858 45,283 37,362 63,863 22,918 36,366 11,379 100,901
Capital assets less reserves .................. 664,294 21,083 26,253 51,502 96,046 58,466 59,491 74,783 52,794 55,681 43,175 31,328 110,966 2,726
Total assets-Total liabilities.. ............. 2,216,102 65,953 75,802 149,912 275,983 179,331 201,373 239,035 220,391 215,158 187,674 1.21,554 153,206 130,730
Accounts and notes payable .................... 540,881 22,756 21,541 36,865 87,709 52,392 40,100 66,029 70,126 54,061 57,900 10,092 20,"5 865
Bonds and mortgages payable ................... 298,345 8,018 7,292 10,657 26,684 10,680 39,096 41,487 16,604 23,915 36,194 7,400 69,000 1,318
Capital stock ................................. 386,767 30,436 24,421 35,441 62,Z72 36,508 51,491 27,527 23,432 35,444 9,707 19,410 2,681 Z7,997
Surplus and undivided profits ................. 693,216 112,236 1.3,100 44,493 64,584 50,172 46,863 67,971 75,023 80,622 54,744 60,886 57,782 89,212
Total 3~484,743 212,012 185,220 310,508 535,581 348,494 321,650 346,699 416,940 451,418 148,678 140,680 42,410 24,453
compiled receipts ....................... 3,583,487 218,484 190,193 319,756 554,495 357,403 331,076 354,503 422,794 456,349 155,520 143,766 48,377 30,771
Cost of goods sold and of operations .......... 2,046,369 95,"2 98,834 173,167 330,021 223,210 208,348 225,665 285,688 265,576 32,010 107,026 1,382 -
Compiled net profit or net loss ............... 181,524 126 3,963 12,408 16,125 14,371 16,566 20,023 25,780 26,491 6,976 17,879 11,974 8,842
Net income or deficit ......................... 180,454 126 3,963 12,408 16,118 14,361 16,554 20,000 25,760 26,423 6,976 16,949 11, 974 8,842
Total tax ..................................... 94,797 1,670 1,960 4,662 9,098 6,511 7,093 9,752 12,852 12,960 11,169 8,559 6,182 2,329
o~ stock ................. .................. 45,213 966 611 1,174 3;137 2,518 _2 617 3_347 4,335 7,289 5,676 5,431 1,500 6,612
SERVICES: AUTOMOTIVE REPAIR SERVICES

AND GARAGES
Number of returns with balance sheets ......... 5,505 2,510 1,094 794 644 238 1-39 52 29 3 2 - -
(Th-.-d &11...
Gash .......................................... 47,297 4,737 4,448 6,068 7,3(Y7 4,681 8,691 5,096 3,526 1,448 1,295
Notes and accounts receivable less reserve .... 73,858 5,365 8,202 9,911 12,108 7,234 9,861 3,820 7,691 2,856 6,810
Inventories ................................... 23,309 2,135 3,598 2,915 5,865 2,886 3,152 1,010 428 657 463
Investments ................................... 56,536 967 1,090 2,089 5,793 3,062 4,786 4,439 33,886 187 237
Capital
Total ass
assets less reserves .................. 404,909 11,200 18,181 31,200 63,129 61,189 67,604 56,284 49,038 14,906 32,178
ets-Total liabilities ............... 633,191 27,347 39,279 56,640 98,185 83,122 96,880 72,495 96,318 20,944 41,981
Accounts and notes payable .................... 189,541 12,063 12,158 10,252 26,387 18,356 32,752 20,815 45,1_13 6,801 4,844
Bonds and mortgages payable ................... 186,566 3,769 8,034 13,675 22,288 29,037 28,453 24,461 21,998 6,864 27,967
Capital stock ................................. 106,210 1
12,179 11, 223 12,287 21,394 12,474 11,679 7,517 13,332 2,600 1,525
Surplus and undivided profits ................. 111,086 5,556 3,561 14,528 22,348 17,058 20,302 16,905 12,935 4,346 4,659
Gross sales and gross receipts from operations 583,366 88,992 79,381 68,110 98,383 64,594 67,745 42,215 37,905 9,898 26,143
Total compiled receipts ....................... 640,424 94,979 82,413 73,242 106,305 78,654 T7,051 47,639 43,182 10,208 26,751
Cost of goods sold and of operations .......... 293,467 47,538 45,740 34,489 50,171 30,794 32,486 19,034 18,124 4,928 10,163
Compiled net profit or net loss ............... 20 610 11,568 867 4,092 4,921 3,658 3,566 2,959 624 262 1,229
1 11,568 867 4,035 4,921 3,658 3,565 2,959 619 262 1,229
Total tax ..................................... U, 610 574 714 1,459 2,013 1,634 1,839 1,312 1,252 198 615
own stock .................................... 3,312 168 603 272 229 287 522 722 488 1 21A
T.bl. G.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Confinued
Size of taal assets
Wjar Industrial group, selected items $25,000 $50,000 $100,000 $250,000 $500,000 $l,OOO,OUO
Under $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,ODO
Total under under under under under under under under under under $250,000,DW
$25,000 under under
50,000 $100,ODO $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,C)DO $25,000,000 $50,000,C)OO $100,000,000 $250,000,000 or more
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (12) (13) (14) (15)
SERVICES: MISCELLANEOUS REPAIR OERVICES,
HAND TRADES
Number of returns with balance sheets ......... 3,260 1,756 719 411 16 10 2 2
(lh--d d.11.,.)
Cash .......................................... 28,4b2 2,661 2,908 3,826 5,077 2,745 1,847 1,471 211 191 7,525
Notes and accounts receivable less reserve .... 61,114 4,274 6,390 8,461 10,801 7,336 1,757 3,719 2,841 2, 006 13,529
Inventories ................................... 43 412 4,041 5,472 5,641 8, 609 3,946 1,581 4,905 1,166 1,552 6,499
Investment ................................... 8:878 646 1,193 579 1,351 899 2,005 653 50 352 1,150
capital a.assets less reserves ..................
Total 61,380 6,061 ?,837 9,009 14,865 5,226 2,953 2,748 2,235 2,109 8,337
ets-Total liabilities ............... 210,726 18,550 24,918 28,599 41,923 21,418 10,476 14,401 6,537 6,553 37,351 -
Acc ounts and notes payable .................... 55,138 5,459 7,310 5,051 8,403 5,776 1,229 4,673 1,559 2,932 12,746 -
Bonds and mortgages payable ................... 17,452 1,618 3,525 2,494 3,934 737 717 2,269 2,158 - -
Surplus
Capital stock ..... 49,197 10j163 9,348 9,007 9,650 4,697 1,912 3,896 313 160 51 -
and undivided profits .................
.... 60,495 986 1,910 9,108 15,()99 8,229 5,549 1,797 1,227 2, 0`77 16,485 -
Gross sale' and gross receipts from operations 455,574 57,407 53,818 57,324 82,947 44,486 20,394 32,890 9,627 20,434 76,247
Total ...piled receipts ....................... 461,623 57,713 54,641 57,603 85,932 45,227 20,466 33,081 9,713 20,91.2 76,335
Cost of goods sold and of operations .......... 309 612 34 544 33j237 37,954 56,629 33,299 14,414 23,859 5j687 90
10 429 59,560
Compiled net profit or net loss ............... 41333 1 942 664 845 2,288 1,914 1 6
SIO 1,176 114 174
Met income or deficit.. ....................... 4,333 '942 1664 845 2,288 1,914 810 1,176 1114 1906 174
Total tax ..................................... 4,922 159 299 459 1,008 783 350 750 - - 1,114
o~ stock.. .................................. 1,013 19 4? 145 289 178 290 45 - -
SERVICES: MOTION PICTURES
Number of returns with balance sheets ......... 5,339 1,401 920 1,265 1,071 359 187 so 20 16 8 4 2 6
(?~--d d.11...
Cash .......................................... 257,987 2,832 4,964 11,135 16,431 13,259 14,703 12,929 6,927 15,607 19,753 16,155 18,792 lG4,500
Notes and accounts receivable less reserve .... 241,491 2,347 8,192 10,959 20,659 16,271 17,790 15,700 9,175 13,377 17,803 26,881 6,564 75,773
Inventories ................................... 295,993 489 896 1,101 3,378 2,351 3,224 8,797 5,878 3, "2 26,350 41,502 54,875 143,710
Inves ents ................................... 576,988 466 2,241 5,970 13,546 19,779 28,073 21,564 11,341 26,965 23,000 19,996 33,660 370,387
Capit!l assets less reserves .................. 828,188 5,086 14,740 56,687 97,882 64,526 56,185 60,382 30,379 39,530 59,700 37,087 17,985 286,019
Total assets-Total liabilities ............... 2,285,950 12,894 34,075 ag,866 160,547 124,288 129,073 129,435 69,122 105,455 150,264 144,423 133,647 1,002,861
Accounts and notes payable .................... 324,219 10,453 10,211 24,937 32,787 48,771 25,4,35 27,557 1.1,744 7,130 34,686 13,699 7,467 69,352
Bonds and mortgages payable ................... 475,612 4,789 3,686 17,794 34,244 16,621 28,203 35,133 16,035 30,878 38,594 32,944 26,041 190,650
Capital stock.. ............................... 351,587 6,553 10,758 19,652 33,524 23,289 22,578 14,808 11,364 14,973 27,299 17,211 36,523 113,055
Surplus and undivided profits ................. 934,788 112,910 5,373 17,178 40,493 22,564 41,957 39,131 21,815 41, 2" 38,150 62,013 54,646 563,1_34
Gross sales and gross receipts from operations 2,015,017 53,564 67,845 125,055 177,273 108,642 107,405 110,053 120,282 111,238 125,848 123,754 127,676 656,382
Total compiled receipts ....................... 2,141,303 55,756 70,856 128,582 185,545 113,200 115,617 118,099 123,458 116,856 132,554 132,092 139,531 709, 157
Cost of goods sold and of operations .......... 1,364,146 29,140 37,623 67,694 95,238 64,045 67,369 64,437 81,549 80,354 89,961 94,612 95,619 496,505
Compiled net profit or net loss ............... 135,603 '3,704 2,551 2,985 8,961 6,369 7,691 4,966 4,637 11,713 10,405 5,277 14, CY76 59,676
Net income or deficit ......................... 1-35,587 13,704 2,551 2,983 8,961 6,369 7,691 4,964 4,631 1-1,713 10,399 5,277 14,076 59,676
Total 73,311 268 1,067 2,164 4,418 2,983 2,988 3,500 2,390 5,368 5,394 4,574 7,091 31,106
Dividends
t . .....................................
paid in cash and assets other than
own stock .................................... 45,525 125 924 1,813 1,498 783 1,259 618 362 2,839 2,733 1,785 4,684 26,102
SERVICES: AMUSEMENT, EXCEPT MOTION PICTURES
Number of returns with balance sheets ......... 5,594 2,603 994 877 704 197 75 94 31 18 1 - -
(Th-.-d d.11.,.)
Cash .......................................... 122,842 3,833 5,270 7,492 14,748 8,328 7,897 29,762 19,91-5 25,411 186
Notes and accounts receivable less reserve .... 50,032 1,850 3,834 4,968 10,545 4,588 7,408 6,352 3,645 6,595 247
Inventories ................................... 10,643 635 751 1,469 2,51.3 686 730 1,406 1,933 620 -
Invest~ment a 85,164 866 1,394 2,076 5,0% 2,938 32,767
3,116 12,229 21,279 3,400
capital aaS-~se ...............
less reserves ..................
................ 426,459 14,357 21,861 42,933 70,322 46,594 28,231 ?4,633 58,732 62,886 5,910
Total assets-Total liabilities ............... 731,197 23,244 35,297 61,948 110,579 67,888 49,356 150,485 101,680 120,424 -
10,296
Accounts and notes payable .................... 114,209 10,373 8,052 13,405 22,750 12,408 6,450 26,724 7,632 6,066 349
Bonds and mortgages payable ................... 126,107 4,741 6,935 16,059 20,709 9,?15 1.3,588 22,998 23,997 7,365 -
Capital stock ................................. 211,296 13,553 17,800 21,158 39,284 17,582 11,111 -
29,261 19,700 38,847 3,000
Surplus and =divided profits ................. 199,808 19,168 1358 4,41-2 17,908 22,083 14,463 51,648 40,602 52,898 5,320
Gross sales and gross receipts from operations 813,384 74,177 47,?73 82,406 126,789 69,124 56,080 1-37,884 -
93,636 116,047 9,468
Total compiled receipts. ...................... 847,738 76,719 50,723 94,764 132,643 71,891 58,282 143,200 98,788 121,049 9,679
Cost of goods sold and of operations .......... 425,481 38,602 24,989 38,801 61,9,98 39,909 29,582 75,398 48,328 -
62,"8 5,426
Compiled net profit or net loss ............... 69,561 1
12,601 437 3,420 5,935 1,850 3,838 19,389 14,938 19,597 2,758
Net income or deficit.. ....................... 69,532 2,601 437 3,420 5,935 1,847 3,838 19,384 14,934 19,580 2,758
Total tax ..................................... 38,052 351 773 1,525 2,832 1,123 2,213 9,848 8,168 9,790 1,429
own stock .................................... 19,805 128 80 995 953 620 701 5,682 4,3931 5,128 1~125
Table O.-SELECTED ASSETS, LIABILITIES, RECEIPTS, AND COSTS, TOTAL TAX, AND DIVIDENDS PAID, BY
SIZE OF TOTAL ASSETS, BY MAJOR INDUSTRIAL GROUP-Continued
Yajor industrial grcup~ selected $25,000

items Under $50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $lOO,OOG,OOQ
Total under $LOO'COO
under under under under under under $10 under $250,000,000
$25,000 under $50,,.r
unde '000 under under
$50,000 $250,000 $500,000 $1,000,000 $2,500,000 $5,000,000 or more
000,000 $25,000,000 $100,000,000 $250,000,000
(15)
OTHER SERVICES, INCLUDING SCHOOLS
Number of returns with balance sheets ......... 5,796 2,906 971 804 714 235 91 58 12 2 3
(Th-d dbil-)
Cash .......................................... 101,787 5,092 7,318 11,007 19,801 13,550 12,188 12,773 7,282 1,783 10,993
Notes and accounts receivable lesa reserve .... 142,477 5,293 7,823 12,474 25,125, 13,283 12,153 18,646 10,629 3,117 33,934
Inventories ................................... 24,924 1,337 1,100 2,465 3,963 3,089 2,588 2,830 6,093 1,459 -
Investments ................................... 71,395 1,029 2,762 2,625 11,978 5,952 10,624 17,285 9,534 4,396 5,210
Capital assets less reserves .................. 205,833 9,891 12,776 25,540 46,457 36,678 23,635 32,924 8,623 1,729 7,580
Total assets-Total liabilities ............... 577,687 25,036 34,489 57,882 112,842 81,029 63,817 87,903 43,211 12,803 58,675
Accounts and notes payable.................... 106,996 10,227 1.1,830 12,154 20,675 12,868 7,392 10,622 8,089 4,211 8,928
Bonds and mortgages payable ................... 65,814 3,794 3,619 11,315 15,396 7,104 8,432 6,810 1,862 132 7,350
Capital stock ................................. 114,651 13,143 1-1,260 16,755 23,706 16,569 15,143 10,610 3,999 -
666 2,800
Surplus and undivided profits ................. 185,181 17,059 2,243 9,159 37,986 30,811 22,911 38,613 15,134 -
7,238 28,145
Gross sales and gross receipts from operations 973,295 87oS14 83,296 113,097 192,341 128,470 118,863 114,057 -
51,937 19,642 63,778 - -
Total compiled receipts ....................... 1,000,789 92,007 85,280 115,168 194,799 133,411 120,937 115, 604 55,209 21,0a7 67,287 - -
Cost of'goods sold and of operations .......... 527,351 46,645 41,430 55,203 109,128 78,010 67,795 54,638 28,326 12,357 33,819 -
Compiled net profit or net loss ............... 41,319 11,941 542 3,054 8,044 6,857 9,0_34 2,661 2,346 688 10,034 - - -
Net income or deficit ......................... 41,165 11,941 542 3,054 So035 6,854 9,029 2,636 2,324 598 10,034 - -
Total tax ..................................... 26,677 449 989 1,473 3,376 2,994 4,585 4,294 2_341 381 5,795 - -
own stock .................................... -349 117 139 470 935 637 1,465 2,237 837 187 2,325
NATURE OF BUSINESS NOT ALLOCABLE
Number of returns with balance sheets ......... 7,685 5,310 932 698 455 ISO 74 -
33 2
(rh...-d dbli ...

Cash .......................................... 37,333 6,866 6,023 5,791 6,483 6,154 1,348 2,993 1,371 304
Notes and accounts receivable less reserve .... 122,969 10,365 U, 630 13,925 17,272 17,096
Inventories ..................... I ............. 20,229 19,174 718 12,560 -
8,709 1,600 837 2,067 3,039 552 176 -
Investments ................................... 254 184 - -
81,350 3,154 4,182 10,009 10,350 22,718 14,193 11,684 1,934 3,126 - - -
Capital assets less reserves .................. 85,098 6,739 6,640 13,852 26,486 15,116 15,031 1,197 6 31 - - -
Total assets-Total liabilities ............... 380,364 31,873 32,691 49,239 70,623 65,339 55,596 54,443 4,029 16,531 - - -
Accounts and notes payable .................... 103,610 12,641 9,700 9,91.1 28,426 13,164 9,329 18,321 1,569 549 -
Bonds and mortgages payable ................... 78,557 5,287 3,267 3,118 12,835 21,079 15,645 10,485 - -
6,841 -
Capital stock ................................. 142,162 34,664 21,706 22,687 24,833 17,513 16,197 3,427 -
1,000 145 -
Surplus and undivided profits ................. 17,147 124,564 14,392 8,993 1,930 4,414 8,070 -
20,173 1,420 1,103 -
Gross sales and gross receipts from operations 103,827 29,535 18,343 14,900 15,110 12,690 4,188 3,056 1,838 4,167
Total compiled receipts ....................... 114,845 30,995 19,189 16,243 17,328 15,753 5,397 3,870 1, goo 4,170
Cost of goods sold and of operations .......... 51,775 14,736 11,063 9,199 6,513 4,252 2,987 227 - 2,798
Compiled net profit or net loss ............... 5o632 11,932 '646 237 2,308 2,061 952 2,169 79 404
Net income or deficit ......................... 5,505 11,932 1647 232 2,308 1,953 947 2,161 79 404
Total tax ..................................... 4,563 366 411 443 1,117 617 293 1,078 34 204
own stock .................................... 3,783 1,301 856 189 145 1151 1,077 1 50 1 50
'Loss or deficit.
2S,u,pling variability of this item was too large
to warrant showing it separately. However, this value "a included in each total.
NOTE: See text for explanatory statements and for "Description of the Sample and limitations of Data."
TWe 7.-NFT INCOME OR DEFICIT, TAKES, AND DIVIDENDS PAID, BY SIZE OF NET INCOME OR DEFICIT, BY INDUSTRIAL DIVISION
Returns with net income Returns without net inc me
Dividends paid in ..Divldends paid in

Net Income tax Excess profits tax' cash andoassets
wn stoc other an and assets other
Industrial division and size of net Number than k Number Deficit than own stock
income or deficit income
of of
Number Amount Number Amount Number returns Number Amount
returns
(7h-.-d of (Th--d of (77--d of Amount
(A-d (7h... d of (n--d
dDlIars) returns bIl... ) returns d.11 ... returns 6.11-) d.11-) returns d.11 ...
(3) (4) (6) (7) (8) (9) ~lo) (11) (12)

$1,000
ALL INDUSTRIAL DIVISIONS
Under ...... 98,132 38,700 77,571 8,149 5,040 15,645 118,022 33,781 2,405 52,382
$1,000 under *$
$2,00~
..... * ...........................
... --- ......... ** 45,647 65,907 37,786 15,915 4,413 10,679 33,798 49,148 1,134 5,590
$2,000 under 3,000 ........................... 31,083 76,754 26,533 19,046 3,5" 12,128 21,483 52,859 626 3,655
$3,OW under $4,000 ........................... 22,587 78,589 19,611 19,404 - 3,151 12,205 15,581 54,144 532 3,103
$4,000 under $5,W ........................... 18,868 84,437 16,745 20,666 - 3,075 12,969 11,627 52,066 453 8,830
$5,000 under $10,000 .......................... 58,819 424,565 53,436 111,534 1 9 12,316 60,101 32,848 233,419 1,313 11,933
$10,000 under $15,000 ......................... 36,010 445,048 33,945 120,712 15 1 9,097 67,074 14,834 181,900 724 5,786
~15,00(j under $20,000 ......................... 25,399 "2,707 24,333 123,743 12 3 7,253 54,147 8,292 143,256 533 5,775
4~20,00C under qp25,000 ......................... 24,420 551,439 23,740 156,903 238 46 6,998 60,909 5,167 115,568 326 7,250
$25,000 =der $50,000 ......................... 35,397 1,219,066 34,179 395,420 1,580 1,028 14,216 188,224 11,044 380,845 882 25,620
~50,000 under $100,000 ........................ 18,877 1,320,471 18,288 519,229 743 1,440 9,495 229,109 5,213 357,672 466 15,829
$100,000 under $250,000 ....................... 13,805 2,140,746 13,448 923,691 543 2,4138 8,105 384,G86 2,478 377,363 363 35,066
$250,000 under $500,000 ....................... 5,399 1,885,549 5,298 842,296 251 2,306 3,578 366,092 747 250,347 132 23,367
$500,000 under $1,000,000 ..................... 2,953 2,058,194 2,908 937,714 140 2,550 2,164 447,436 264 184,573 70 25,145
$1,000,000 under $5,000,000 ................... 2,889 6,0CC,353 2,823 2,696,571 164 8,672 2,387 1,715,879 199 381,578 69 35,275
$5,000,000 under $10,000,000 .................. 432 3,051,816 426 1,364,567 22 5,956 392 1,012,618 21 138,489 12 52,468
$10,000,00C or more.. ......................... 460 19,688,489 452 8,547,618 15 13,292 417 6,941,509 10 25?,387 4 5,546
Total ................................... "1,177 39,572,830 391,522 216,823,241 3,724 37,711 95,641 11,590,810 281,628 3,244,-395 10,044 322,620
AGRICULTURE, FCIMSTRY, AND FISHERY

Under $1,000 .................................. 836 330 681 65 - 63 133 1,076 360 (1) (1)
$i,000 under $2,000 ........................... 374 529 282 115 - 35 53 491 71? -
$2,000 der $3,CM ........................... 337 826 240 166 - 32 168 323 807 (1) (1)
$3,000 under $4,000 ........................... 239 839 184 183 65 943 191 651
$4 000 under $5,000 ........................... 305 1,371 345 30 108 201 900
4,423 947 119 570 757 5,509 ~3)) ((3))
$5:000 under $10,000 .......................... 603 463
08 - 137 1,647 260 3,234 3 3
$10,000 under $15,000 ......................... 593 7,328 1,767
$15,000 under $20,000 ......................... 296 5,310 263 1,291 - 75 1,138 174 2,943 (3) (3)
$20,000 under $25,OOC ......................... 235 5,183 214 1,341 (1) 45 633 91 2,057 -
$25,000 under $50,000 ......................... 530 18,018 487 5,199 10 203 3,513 271 9,776
$50,000 under $100,DOC.. ...................... 181 13,070 166 4,120 2 63 1,283 122 7,788 48
$100,000 under $250,000.. ..................... 140 21,095 22 7,542 40 70 3,419 63 9,684 809
$250,000 under $500,000 ....................... 33 11,796 32 4,685 - 20 2,225 12 3,558 -
$500,000 under $1,000,000 ..................... 24 16,562 23 6,852 4 12 2,354 5 2,572 -
$1,000,000 under $5,000,000.. ................. 12 24,162 12 11,018 6 3,664 1 3,329 -
$5,000,000 under $10,000,000 .................. 1 9,548 1 3,623 - - - - -
$10,000,000 or more ........................... 2 35,778 2 16,454 - 1 26,325 - - -
Total ................................... 4,741 176,168 3,954 65,713 45 56 976 48,176 4,038 53,885 67 1,103
MINING AND QUARRYING

Under $1,000. 542 249 412 47 - - 72 475 1,539 402 77
$1,000 under $2,OW
-* ... ...........................
* ...... -- ........ - ... 298 394 203 75 - - 32 597 402 591 238
$2,000 under $3,000 ........................... 141 356 105 65 - - 20 136 263 625 313
$3,000 under $4,000 ........................... 174 612 158 146 - 72 480 231 796 363
$4,000 under $5,000 ........................... 200 887 183 225 - 39 258 209 958 232
$5,000 under $10,000 .......................... 518 3,932 457 1,010 - 173 1,?26 617 4,567 2,533
$10,00C under $15,000 ......................... 448 5,559 389 1,417 - 93 1,297 398 4,875 948
$15,00C) under $20,000 ......................... 299 5,239 278 1,377 - 52 1,038 279 4,777 551
1,889 (4) 60 952 143 3,259 546
$20,000 ux4er $25,000 ......................... 319 7,201 287
$25,000 under $50,000 ......................... 454 15,638 426 4,860 8 142 5,409 543 19,541 1,355
$50,000 under $100,000 ........................ 336 22,896 304 8,170 16 131 8,723 404 27,906 3,020
$100,000 under $250,000 ....................... 266 40,433 258 17,251 11 142 17,488 218 33,771 4,538
$250,000 -der $500,00C ....................... 102 36,886 100 15,659 14 64 20,045 45 13,376 1,937
$500,000 under $1,000,000 ..................... 62 ",859 60 20,440 48 41 33,682 18 12,307 2,228
$1,000,000 under $5,000,000.. ................. 68 159,761 67 65,982 67 55 96,331 24 43,032 1,743
$5,0W,000 -der $10,000,000 .................. 10 64,167 10 20,039 - 7 33,071 3 18,700 846
$10,000,000 or more ........................... 11 536,979 11 268,912 1,086 11 497,668 1 15,652
-
Total ................................... 4,248 946,048 3,708 427,464 48 1,250 1,206 719,376 5,337 205,135 342 21,468
CONSTRUCTION
Under $1,000 .................................. 4,282 1,687 3,478 357 - 131 90 5,452 1,763 124
$1 000 under $2,000 ........................... 2,019 2,884 1,663 665 122 338 1,734 2,455 82
$2:000 under $3,000 ........................... 1,315 3,275 1,088 777 121 321 1,156 2,853 20
$3,000 under $4,000 ........................... 1,006 3,481 873 851 - 80 137 877 3,069 14
$4,006 under $5,000.. ......................... 942 4,227 807 964 - 72 141 638 2,839 51
$5,000 =der $10,000 .......................... 2,946 20,621 2,665 5,305 - - 287 1,160 1,846 13,228 141
$10,DOO under $15,000 ......................... 1,935 24,114 1,789 6,377 5 (4) 190 799 1,009 12,426 68
$15,000 under $20,000 ......................... 1,409 24,348 1,358 6,872 - - 218 997 401 6,972 229
$20,OOU under $25,000 ......................... 1,582 35,850 1,519 10,153 7 1 241 1,537 329 7,422 2
$25,000 -der $50,000 ......................... 1,981 66,837 1,887 21,354 110 57 405 4,571 705 24,112 4,022
$50,000 under $100,000 ........................ 1,020 71,162 986 28,570 53 120 325 4,783 373 25,375 189
$100,000 under $250,000 ....................... 621 93,970 608 42,118 27 97 274 8,025 165 25,463 405
$250,000 under $500,000 ....................... 204 70,112 204 33,327 14 105 114 8,679 24 7,843 550
$500,000 under $1,000,000 ..................... 83 58,460 83 27,921 3 32 57 7,658 7 4,553 -
$1,000,000 under $5,000,000 ................... 58 103,792 56 47,953 2 100 47 17,282 3 5,571 -
$5,000,000 under $10,000,000 .................. 8 48,718 8 22,789 - - 7 12,893 - -
$10,000,000 or more.. ......................... - - - - - - - - - -
Total ................................... 21,411 633,538 19,072 256,353 221 512 2,691 69,411 14,719 145,9" 346 5,897
MANUFACTURING
Under $1,000 .................................. 10,691 4,366 8,155 851 - - 531 884 11,841 3,975 272 904
$1,000 under $2,QCKj ........................... 5, "6 7,885 4,253 1,738 - 431 1,069 4,903 7,113 256 1,344
$2,000 under $3,000 ........................... 3,864 9,595 3,165 2,271 - 448 1,116 3,504 8,641 110 618
$3,00, under $4,000 ........................... 3,019 10,464 2,411 2,364 - - 350 1,326 2,649 9,223 106 712
$4,000 under $5,000 ........................... 2,719 12,219 2,271 2,791 - 415 2,527 2,213 9,889 118 1,254
$5,000 under $10,000 .......................... 8,909 64,321 7,707 16,253 1 9 1,716 9,044 6,459 46,296 302 3,572
$10,000 under $15,000 ......................... 5,824 71,674 5,318 18,738 - - 1,285 8,391 3,545 43,666 229 1,967
$15,000 under $20,000 ......................... 4,498 78,531 4,232 21,599 1 (1) 1,170 9,075 2,232 38,694 196 2,130
$20,DOO under $25,000 ......................... 4,841 109,383 4,697 31,093 52 4 1,295 11,361 1,614 36,136 136 3,665
$25,000 under $50,000 ......................... 7,809 273,302 7,463 90,428 393 268 2,905 37,271 3,557 123,650 335 8,063
$50,000 under $100,000 ........................ 5,626 398,587 5,431 164,078 308 632 2,703 59,486 2,001 139,286 265 9,347
$100,000 under $250,000 ....................... 5,382 845,030 5,285 388,355 301 1,431 3,211 131,639 1,129 173,367 203 18,362
$250,000 under $500,000 ....................... 2,499 874,739 2,463 417,044 177 1,683 1,682 151,619 362 123,793 88 9,378
$500,000 under $1,000,000 ..................... 1,458 1,015,788 1, "5 499,134 105 1,836 1,103 188,157 146 101,940 51 12,677
$1,000,000 under $5,000,000 ................... 1,566 3,253,765 1,560 1,624,735 137 7,430 1,329 783,211 113 212,825 48 13,941
$5,000,000 under $10,000,000 .................. 224 1,584,692 224 792,229 18 5,400 206 447,065 13 86,776 8 42,194
$10,000,000 or more ........................... 233 11,039,210 233 5,377,957 14 12,206 221 3,856,237 7 198,416 4 5,546
Total ................................... 74,6081 19,653,551 66,313 9,451,660 1,507 30,899 21,001 5,699,478 46,2881 1,30_,~6 2,727 135,674
See foc~tnotes at arid of table. See text for explanatory statements and for "Description of the Sa~ple and Limitations of Data."
Tibia 7.-NET INCOME OR DEFICIT, TAXES, AND DIVIDENDS PAID, BY SIZE OF NET INCOME OR DEFICIT, BY INDUSTFIAL DIVISION-Cominued

Dividends paid in Dividends paid in
Industrial division and size of net Income tax Excess profits tax' cash and assets other cash and assets other
Number of Net Number of
income or deficit than own stock Deficit than own stock
returns income returns
Number of Amount Umber of Amount Number of Amount Number of Amount
returns (j7_.dj.) returns (Th....dj.) returns Th-.61.) (77-..dl.) returns 7j....dj. )
(2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
PUBLIC UTILITIES
Under $1,000 .... ....... 3,879 1,517 3,011 323 - 157 392 4,819 1,423 97 278
$1,000 under $2,000 .................. . ...... 1,875 2,704 1,490 594 - 232 505 1,569 2,328 24 164
$2,000 under $3,000 ..................... 1,365 3,367 1,128 791 - 121 846 808 2,016 16 32
$3,000 under $4,000 ..................... 711 2,480 582 558 - 90 1,191 658 2,325 10 18
$4,000 under $5,000 ............................ 747 3,340 644 807 - 133 420 405 1,813 13 53
$5,000 under $1010moo ........................... 2,239 15,981 2,011 4,191 - 399 1,914 1,275 9,191 41 114
$10,000 -der $15,000 .......................... 1,269 15,662 1,200 4,278 10 1 346 2,763 613 7,474 15 99
15,000 under $20,000 .......................... 875 15,339 828 4,247 - - 191 1,369 286 4,929 6 122
:20,000 under $25,000 .......................... 855 19,328 797 5,251 20 6 187 2,383 203 4,557 16 972
$25,000 under $50,000 .......................... 1,359 46,473 1,300 15,237 48 25 498 7,812 525 17,962 28 3,942
$50,000 under $100,000 ......................... 809 56,735 791 23,156 13 33 385 11,407 199 14,292 17 430
$100,000 -der $250,000 ........................ 608 97,725 581 42,486 12 69 333 20,470 186 28,223 20 1,800
$250,000 under $500,000 ........................ 276 95,898 269 ",391 8 100 171 20,243 78 25,565 7 9,523
$500,000 under $1,000,000 ...................... 210 149,942 207 71,433 5 120 137 40,207 23 15,905 7 8,489
$1,000,000 under $5,000,000 .................... 211 467,058 207 220,569 3 192 175 239,058 34 75,978 12 18,544
$5,000,000 under $10,000,000 ................... 58 416,866 57 197,124 - - 55 204,528 4 27,053 3 9,428
$10,000,000 or more ............................ 90 3,299,438 90 1,673,219 - 84 1,465,406 1 28,494 - -
-
Total .................................... 17,436 4,709,853 15,193 2,308,655 119 546 3,694 2,020,914 11,686 269,528 332 53,928
TRADE
Under $1,000 ................................... 33,774 13,615 26,875 2,738 - - 1,714 4,876 32,379 11,045 705 31,698
$1,000 under $2,000 ............................ 16,079 23,365 13,115 5,388 - - 1,363 3,015 12,799 18,848 380 1,510
$2,000 -der $3,000 ............................ 10,754 26,527 9,047 6,640 - - 1,206 3,157 8,106 19,968 262 1,337
$3,000 under $4,000 ............................ 7,991 27,821 6,868 6,766 - - 1,022 2,940 6,522 22,685 284 1,100
$4,000 -der $5,000 ............................ 6,040 27,127 5,270 6,327 - - 904 3,821 4,750 21,293 194 823
$5,000 under $10,000 ........................... 19,922 143,838 17,990 37,876 - - 3,915 16,293 13,851 98,172 6" 3,145
$10,000 under $15,000 .......................... 11,826 146,118 11,212 39,929 - - 2,800 15,969 6,000 73,611 303 1,116
$15,000 under $20,000 .......................... 8,630 150,343 8,348 42,924 9 2 2,330 16,943 3,358 57,972 221 1,997
$20,000 under $25,0,00 .......................... 7,659 172,888 7,496 49,687 67 16 2,189 17,535 1,985 44,345 123 1,106
$25,000 under $50,000 .......................... 10,674 364,989 10,389 122,771 520 284 3,954 47,014 3,582 122,429 253 3,307
$50,000 under $100,000 ......................... 5,123 358,099 5,033 148,813 214 422 2,326 44,862 1,240 83,821 109 1,913
$100,000 under $250,000 ........................ 3,176 483,273 3,139 221,524 118 440 1,729 69,525 375 55,015 61 3,176
$250,000 -der $500,000 ........................ 987 341,175 981 162,185 34 276 621 54,248 99 33,402 15 718
$500,000 under $1,000,000 ...................... 427 291,728 421 140,730 10 237 298 49,256 33 23,516 5 1,741
$1,000,000 under $5,000,000 .................... 313 589,111 313 288,915 14 643 230 133,929 11 16,814 2 664
$5,000,000 -der $10,000,000 ................... 31 220,286 31 109,202 - - 28 72,391 1 5,960 - -
$10,000,000 or more ............................ 26 976,355 26 1 498,107 - - 26 314,796 - -
- - 1
Total .................................... 143,432 4,356,658 126,554 1 1,890,52_ 986 2,320 26,655 870,572 95,091 708,896 3,561 55,351
FINANCE, INSURANCE, REAL ESTATE, AND LESSCRS
P-PERTY
Under $1,01.... - REAL:.. : . .................... 33,354 12,893 27,368 3,000 - - 1,993 7,945 41,215 9,947 1,004 18,300
$1,000 under $2,000
'' ....
... .. ..................... 15,207 21,761 13,482 5,976 - - 1,873 3,538 7,359 10,520 296 2,121
$2,000 -der $3,000 ............................ 10,317 25,531 9,403 6,735 - - 1,368 5,628 4,292 10,520 152 1,267
$3,000 under $4,000 ............................ 7,426 25,852 6,893 6,932 - 1,273 4,427 2,641 9,156 69 857
$4,000 under $5,000 ............................ 6,205 27,612 5,848 7,356 1,222 4,694 1,825 8,186 75 6,279
$5,000 under $10,000 ........................... 19,105 139,140 18,186 37,858 4,916 25,862 4,095 28,606 99 2,004
$10,000 under $15,000 .......................... 11,405 141,220 11,011 39,327 3,667 32,769 1,717 20,807 56 1,302
$15,000 -der $20,000 .......................... 7,639 133,085 7,371 36,998 2 1 2,767 19,854 886 15,303 21 394
$20,000 under $25,000 .......................... 7,375 166,646 7,249 47,703 73 18 2,596 23,755 440 9,691 16 996
$25,000 under $50,000 .......................... 10,352 356,434 10,078 110,563 254 155 5,410 72,745 1,235 42,148 107 3,682
$50,000 -der $100,000 ......................... 4,824 333,949 4,663 116,146 88 ill 3,116 87,651 541 35,839 20 580
$100,000 under $250,000 ........................ 3,087 479,006 2,946 170,299 35 218 2,094 121,693 211 32,527 17 5,692
$250,000 under $500,000 ........................ 1,113 390,710 1,077 136,334 8 52 813 99,518 89 29,309 9 1,160
$500,000 -der $1,000,000 ...................... 580 404,420 560 134,003 3 29 448 112,464 23 17,606 - -
$1,000,000 under $5,000,000 .................... 593 1,269,210 540 371,846 1 14 488 405,750 6 9,158 2 383
$5,000,000 under $10,000,000 ................... 88 619,443 83 177,808 1 45 78 214,860 - - - -
$10,000,000 or more ............................ 94 3,746,228 86 694,580 - - 70 760,565 - - -
Total .................................... 138,764 8,293,140 126,844 1 22,093,547 465 643 34,192 2,003,718 66,575 289,323 1,943 45,017
SERVICES
Under $1,000 ................................... 9,983 3,776 7,065 717 - - 359 829 13,609 4,029 108 391
1,000 -der $2,000 ............................ 4,128 6,072 3,117 1,297 - - 285 875 4,032 5,646 90 53
2,000 under $3,000 ............................ 2,868 6,970 2,276 1,540 - - 218 750 2,714 6,657 42 64
3,000 under $4,000 ............................ 1,925 6,712 1,556 1,513 - - 164 358 1,616 5,550 36 37
$4,000 under $5,000............................ 1,629 7,279 1,382 1,760 - - 239 930 1,246 5,562 27 138
5,000 under $10,000 ........................... 4,380 30,865 3,800 7,765 - - 771 3,485 3,673 25,918 125 361
10,000 under $15,000.......................... 2,543 31,2_34 2,351 8,274 - - 562 3,314 1,209 14,800 63 205
15,000 under $20,000.......................... 1,676 29,139 1,588 8,074 - - "0 3,683 641 11,085 34 261
20,000 under $25,000.......................... 1,533 34,503 1,470 9,716 6 1 385 2,753 342 7,683 10 63
25,000 under $50,000.......................... 2,183 75,518 2,095 24,511 205 221 687 9,774 593 20,128 24 499
50,000 -der $100,000 ......................... 946 65,021 908 25,923 56 104 445 10,864 302 21,073 5 302
100,000 under $250,OC)o ........................ 515 78,145 499 33,375 28 102 252 11,827 131 19,313 7 294
250,000 under $500,000 ........................ 183 63,411 170 28,278 7 76 93 9,515 38 13,501 4 101
500,000 under $1,000,000 ...................... 108 75,529 108 36,737 12 244 67 13,608 9 6 ,174 1 10
1,000,000 under $5,000,000 .................... 66 131,372 66 64,710 6 226 -
56 35,582 7 14,671 -
5,000,000 under $10,000,000 ................... 12 88,096 12 41,753 3 511 11 - - -
27,810
10,000,000 or more ............................ 4 54,501 4 28,489 - - 4 20,512 1 14,825 - -
Total .................................... 34,692 788,143 28,467 324,432 323 1,485 5,038 156,469 30,1 197,015 576 2,769
MATURE OF BUSINESS MGT ALLOCABLE
Under $1,000 ................................... 791 267 526 51 - - (3) (3 6,092 837 (1) (1)
1,000 under $2,000 ............................ 221 313 181 67 - - (3) 3) 509 730 (3)
(3)
2,000 under $3,000 ............................ 122 307 81 61 - 3 317 772 -
)
3,000 under $4,000 ............................ 96 328 86 91 - - ~ 33)) 3) 196 689 -
~4,000 under $5,000 ............................ 81 375 66 91 - - 3) 140 626 -
5,000 under $10,000 ........................... 197 1,444 157 327 - - 275 1 932 -
(1
10,000 under $15,000 .......................... 167 2,139 167 605 - - 3 3 83 1 007
15,000 under $20,000 .......................... 77 1,373 67 361 - - 3) 35 (3)
581
20,000 under $25,000 .......................... 21 457 11 70 (1) (3) 20 418
25,000 -der $50,000 .......................... 55 1,857 54 477 - - 12 115 33 (3) (3)
1,099
50,000 under $100,000 ......................... 12 952 6 253 - - 1 50 31 2,292
100,000 under $250,000 ........................ 10 2,069 10 741 - - - - - -
250,000 under $500,000 ........................ 2 822 2 393 - - - - -
500,000 under $1,000,000 ...................... 1 906 1 464 - - 1 50 -
1,ODO,000 under $5,000,000 .................... 2 2,122 2 843 - - 1 1,072
5,000,000 under $10,000,000 ................... - - - - - - - -
10,000,000 or more .................... -
Total ............................ 1 1,855 1 15,733. 1 1,417 1 4,895 1 (3) (3) - 1 188 1 2,696 1 7,7311 10,983 15; 1 1,413
1The excess profits tax law
terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and
annual accounting periods ended July through November 1954 and returns for part years which began in 1953. reported on returns for
;q.cluded in the total, but not in the detail, is $63,000 of tax reported on returns with no net income. See
"Explaration of Terms," Incre , P. 25.
'Sampling variability of this item was too large to warrant showing it separately. However, this value was tax$500.
included in each total. 4-Le. thZ
NOTE: See text for explanatory statements and for "Description of the Sample and Limitations of Data.',
ALL ACTIVE CORPORATION RETURNS 00
t_0
T.W. S.-INCOWE TAX, EXCESS PROFITS TAX, AND ALTERNATIVE TAX LIABILITY, BY SIZE OF NET INCOME
Returns ~ith and without alternative tax
Returns with net income Retume without

net income
Total Taxable Nontaxable
Size of net income or deficit
Total Ineme tax only Income tax and excess profits tax Number Deficit
Number Net income E.cc,,, Excess Nuinber Net income of
of Number Net income Total tax Income tax profits Number Net income Income tax Number Net income Income tax profits of returns
returns of t.x, of tax' returns
returns :' h (Th-m (Th-d Th 1_-d (7b-.-d (rh-. d
d.11 d,1 1 d,1 (7d.11_)
`-' returns . re 'f
.11. turns d.11.,.) d.11... d.1 .11... .11 ...
(1) (2) (3) (4) (5) ~6) (7) (8) (9) (10) (ll~_ (12) (13) (14) (15) (16) (17) (18)
Under $1, 98 i32 38 700 77,571 31,OOG 8,149 8,149 - 77,57i 31,000 8,149 20,561 7,700 118,022 33,781
~1,.
000 -der
C)OO. $2' ,* 00(
* ' *).---- 45:647 65:907 37,786 54,612 15,915 15,915 - 37,786 54,612 15,915 7,861 11,295 33,798 49,148
$2 under $3,000 ........... 31,083 76,754 26,533 65,523 19,046 19,046 - 26,533 65,523 19,046 4 550 11 231 21,483 52,859
$3,000 under $4,OW ........... 22.587 78,589 19,611 68,293 19,404 19,404 19,611 68,293 19,404 2:976 10:296 15,581 54,144
$4,000 under $5,000 ........... 18,868 84,437 16,745 74,903 20,666 20,666 16,745 74,903 20,666 2,123 9,534 11,627 52,066
$5,000 under $10,000 .......... 58,819 424,565 53,436 386,919 ~11,543 111,534 9 53,435 386,913 111,532 1 6 2 9 5,383 37,646 32,848 233,419
$10.000 -der $15,000 ......... 36,010 445,048 33,945 419,957 ~20, 713 120,712 1 33,930 419,770 120,656 15 187 56 1 2,065 25,091 14,834 181,900
$15,000 under $20,000 ......... 25,399 442,707 24,333 424,253 123,746 123,743 3 24,321 424,034 123,676 12 219 67 3 1,066 18,454 8,292 143,256
$20,000 under $25,000 ......... 24,420 551,439 23,740 536,350 156,949 156,903 46 23,502 530,753 155,239 238 5,597 1,664 46 680 15,089 5,167 115,568
$25,000 under $50,000 ......... 35,397 1,219,066 34,179 1,176,937 396,448 395,420 1,028 32,599 1,123,563 376,557 1,580 53,374 18,863 1,028 1,218 42,129 11,044 380,845
$50,000 under $100,000. ....... 18,877 1,320,471 18,288 1,279,217 520,669 519,229 1,440 17,545 1,226,986 496,482 743 52,231 22,747 1,440 589 41,254 5,213 357,672
$100,000 under $250,000 ....... 13,805 2,140,746 i3,448 2,085,328 926,099 923,691 2,408 12,905 2,000,963 883,666 543 84,365 40,025 2,408 357 55,418 2,478 377,363
$250,000 -der $500,000 ....... 5,399 1,885,549 5,298 1,850,404 844,602 842,296 2,306 5,047 1,761,199 798,008 251 89,205 44,288 2,306 101 35,145 747 250,347
$500,C)OO under $1,D00,000 ..... 2,953 2,058,194 2,908 2,027,455 940,264 937,714 2,550 2,768 1,931,556 889,342 140 95,899 48,372 2,550 45 30,739 264 194,573
$1,000,000 under $5,000,000 ... 2,889 6,000,353 2,823 5,846,441 2,705,243 2,696,571 8,672 2,659 5,486,392 2,513,334 164 360, 049 183,237 8,672 66 153,912 199 381,578
$5,000,000 under $10, WO,000.. 432 3,051,816 426
3,007,391 1,370,523 1,364,567 5,956 404 2,945,037 1,282,947 22 162,354 82,620 5,956 6 44,425 21 138,489
$10,000,000 or more ........... 460 , i9,688,489 , 452
19,523,023 , 8,560,910 , 8,547,618 13,292 443?
"7"S 3,: .99 6.9
1-9 : 328,5411 1 15 1 423,334 219,069 13,292 1 8 1 165,466 1 10 1 _ 257,387
Total ................... 441,177 1 39,572,830 1391,522 138,858,006 1216,860,952 1216,823,241 37,711 531,186 121 6- 162,231 1 3,724 1 1,326,820 661,010 37,711 1 49,655 1 714,824 1 281,628 1 3,244,395
Returns with alternative tax
Total Income tax only Income tax and excess profits tax
Net long- Net long- Net long-

term capa- Income tax Income tax Income tax
t te- capi- (.f ltc,_ term cap-
Size of net income al gain (if alter 1 a (if alter
Income t- Excess c gain Income tax tal gain Income tax Excess
nreduced by native native a native
Number Net income Total tax (aiter- profits Number Net income retdl
u ed by (alter- Number Net inc 'educed by (alte- profits
et short- method method method
of native) t _` of net short- native) of net short
t~_ native) tax,
term capi- had not had
e_ net - had not
returns returns te returns ca-1
tal loss been used) - copl- be used been used)
tal - tal i.'.s
(Th-.-d (Th.-d (Th.....d (Th--d (Th-...d (Th--d (Th.....d (Th...-d (7h...-d (Th--d Th...-d (T)-...d (Th--.d (T)..-.d (Th-.-d
d.11 ... d.I1 ... d.11... d.11.-) d.11 ... d.11.,.) d.11 ... d.11... d,11-) dll,,,) d.11... d.11 ... d. I I) d.11.-) d.11...
(19) (20) (21) (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32) (33) (34) (35) (36)
Under $i,000 .................. 1,349 773 542 177 172 172 1 349 773 542 177 172 -
$1,000 under $2,000 ........... 1,568 2,288 971 658 602 602 1:568 2 288 1, 971 658 602 -
$2,000 under $3,000 ........... 1,473 3,713 1,362 1,148 1,101 1,101 1,473 3:713 362 1,148 1,101 -
$3,000 under $4,000 ........... 1,348 4,672 1,485 1,353 1,281 1,281 1,348 4,672 1,485 1,353 1,281 -
$4,000 under $5,000 ........... 1,432 6,431 1,830 1,?81 1,700 1,?()0 1,432 6,431 1,830 1,781 1,700 -
$5,000 under $10,000 .......... 5,582 41,330 9,813 12,096 11,612 11,612 5,582 41,330 9,813 12,096 11,612 -
$10,000 under $15,000. ........ 4,711 59,020 il,384 17,057 16,591 16,591 4,711 59,020 11,384 1?,057 16,591 -
$15,000 under $20,000. ........ 3,810 66,376 10,984 19,340 18,850 18,850 3,810 66,376 10,984 19,340 18,850 - - -
$20,000 -der $25,000 ......... 4,135 93,672 13,185 27,509 26,974 26,9?0 4 4,117 93,266 13,170 27,387 26,949 18 406 15 122 121 4
$25,000 -der $50,000 ......... 9,452 333,159 52,949 116,006 108,()85 107,966 119 9,214 325,019 52,331 113,103 105,188 238 8,140 618 2,903 2,778 119
$50,000 -der $100,000 ........ 6,927 480,494 73,275 202,260 186,769 186,476 293 6,678 470,107 72,837 197,738 182,067 149 10,397 438 4,522 4,409 293
$100,000 -der $250,000 ....... 6,105 961,065 123,175 4", 631 415,741 415,045 696 5,931 933,568 122,019 431,467 402,184 174 27,497 1,156 13,164 12,861 696
$250,000 under $500,000 ....... 2,833 998,748 135,083 476.975 444,424 "3,641 783 2,727 960,751 134,290 457,932 424,812 106 37,997 793 19,043 18,829 783
$500,000 under $1,000,000 ..... 1,677 1,174,"5 128,295 573,51G 542,399 541,o88 1,311 1,613 l,i3O,O65 127,093 550,989 518,883 64 44,380 1,202 22,521 22,205 1,311
$1,000,000 under $5,000,000 ... 1,?79 3,778,302 325,444 1,859,634 1,781,579 1,776,654 4,925 1,680 3,555,292 320,730 1,745,337 1,663,602 99 223,010 4,714 114,297 113,052 4,925
$5,D00,0D0 under $10,000,000.. 282 2,013,610 188,449 994,268 950,699 947,419 3,280 266 1,894,086 186,816 933,412 887,0G6 16 119,524 1,633 60,856 60,413 3 280
$10,000,DDO or more ... 319 15,049,469 367,178 , 7,451,304 , 7,367,617 7,355,476 , 12,141 307 14,664,272 366,115 7,251,770 7,156,221 12 1 385,197 1 1,063 1 199,534 1 199,255 12:141
1
Total ...................
* ..... ** 54,682 1 25,067,567 ll ,"5,404 1 12,199,707 I li,876,196 1 11,852,644 1
23,552 1 53,806 1 24,211,029 1 1,433,772 l ll.?62,745 1 11,418,721 1 876 1 856,538 1 11,632 1 436,962 1 433,923 23,552
- 1
'The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for annual accounting periods ended July through
November 1954 and returns for part years which began in 1953.
2Included in the total, but not in the detail, is $63,000 of tax reported on returns with no net income. See "Explanation of Terms," Income tax, P. 25.
Table 9.-DIVIDENDS RECEIVED AND INTEREST RECEIVED ON GOVERNMENT OBLIGATIONS, BY SIZE OF NET INCOME Oft DEFICIT

Dividends received fr=- Interest received on Goverment obligations
( sea mortizable bond premitri)
Size of net income Total Domestic corporations Foreign corporations Wholly taxable Subject to surtax only Wholly t -exempt
number
of
returns 1~umber of Amount Nwber of Amount Number of Amount Number of Amount Nomber of Amount
returns returns returns returns returns
(77--d (7h-...d (Th... d (Th-...d (lh-.-d
d.11... d.11... d.11... d.11.,.) d.11-)
(2) (3) (4) (5) (6) (7) (a) (9) (10)
Under $1,000 ........................................ 98,132 2,775 1,580 121 61 2,119 2,472 141 51 170 259
$1,000 under $2,000 ................................. 45,647 1,572 1,976 77 54 1,395 2,908 53 98 236 534
$2,000 under $3,000 ................................. 31,083 1,480 1,948 3 2 1,146 2,603 57 42 228 518
$3,000 under $4,000 ................................. 22,597 1,230 1,429 19 5 . 918 2,904 17 2 159 322
$4,000 =der $5,000 ................................. 18,868 1, 0`77 1,547 44 19 1,095 3,093 52 27 275 438
$5,000 under $10,000 ................................ 58,819 4,400 8,?17 151 241 4,041 21,063 252 88 1,219 2,947
$10,000 under $15,000 ............................... 36,010 3,067 7,496 94 288 3,434 33,336 334 919 1,487 4,613
$15,000 under $20,000 ............................... 25,399 2,322 7,578 90 281 3,011 33,393 246 531 1,289 4,853
W,000 under $25,000 ............................... 24,420 2,113 5,203 54 220 2,992 33,736 305 491 1,395 5,773
$25,000 -der $50,000 ............................... 35,397 4,960 33,813 242 1,598 6,552 119,134 784 1,896 3,329 19,182
$50,000 under $100,000 .............................. 18,M 3,732 50,114 247 1,949 4,727 126,741 759 2,655 2,285 24,680
$100,000 =der $250,000 ............................. 13,805 3,316 98,451 270 3,191 4,398 213,915 697 5,479 1,858 36,664
$250,000 under $500,000 ............................. 5,399 1,611 96,084 181 3,830 2,166 128,281 294 4,383 945 31,622
$500,000 =der $1,000,000 ........................... 2,953 963 107,894 145 10,953 1,41? 132,593 199 5,834 485 28,599
$1,000,000 -der $5,000,000 ......................... 2,889 1,166 375,696 338 56,219 1,711 346,308 247 22,395 571 76,685
$5,000,000 under $10,000,000 ........................ 432 241 225,654 99 40,830 324 138,530 55 12,587 105 36,233
$10,000,000 or more ................................. 460 316 1,227,882 177 487,211 378 656,795 67 40,752 147 110,400
Total ......................................... 441,177 36,341 2,253,062 2,352 606,952 41,824 1,997,805 4,559 98,230 16,083 394,322
Returns without net income
Interest received on Goverment obligations
Dividends received from- less amortizable bond premium)
Total
Size of deficit number Domestic corporations Foreign corporations Wholly taxable Subject to surtax only Wholly t -exempt
of
returns Ntimber of Amount Number of Amount Nomber of Amount N=ber of Amount Number of Amount
returns
returns returns returns returns
(Th-...d (77,-..m (Thms-d (7h-...d (Th-.-d
d.11... d.11.,.) d.11-) d.11... d.11 ...
(12) (13) (14) (15) (16) (17) (18) (19) (20) (21) (22)
Under $1,000 ........................................ 118,022 1,913 38,737 1,269 3,869 74,00~ 336 241 2,488
$1,000 -der $2,000 ................................. 33,798 516 1,195 51 601 1,143 9 152 583
$2,000 under $3,000 ................................. 21,483 433 622 13 414 885 1 102 778
$3,000 under $4,000 ................................. 15,581 381 603 7 301 440 1 11 104
$4,000 under $5,000 ................................. 11,627 299 506 66 336 1,419 (1) 27 41
$5,000 under $10,000 ................................ 32,848 856 1,999 64 772 -7,769 12 100 1,205
$10,000 under $15,000 ............................... 14,834 435 1,150 89 422 2,191 4 11 72
$15,000 under $20,000 ............................... 8,292 334 1,306 1 321 588 12 35 196
$20,000 under $25,000 ............................... 5,167 192 309 1 220 549 (1) 5 1
$25,000 wider $50,000 ............................... 11,044 597 2,765 224 649 3,091 17 64 354
$50,000 under $100,000 .............................. 5,213 369 2,827 229 364 3,767 12 72 665
$100,000 under $250,000 ............................. 2,478 262 6,974 620 300 5,348 48 37 492
$250,000 under $500,000 ............................. 747 102 5,218 806 124 4,226 26 24 447
$500,0D0 under $1,000,000 ........................... 264 43 2,020 41 59 2,976 6 9 140
$1,000,000 -der $5,000,000 ......................... 199 64 4,652 1,173 65 3,233 3 14 507
$5,000,000 under $10,000,000 ........................ 21 9 2,176 400 11 1,850 7 2
$10,000,000 or more ................................. 10 2 6,105 1,134 4 426 7 -
Total ......................................... 281,628 6,797 79,164 253 6,188 8,832 113,9051 352 501 906 8,081
'Less than $500.
NOTE; See text for explanatory statements and for "Description of the S.mple and Limitations of Data.
T.bl. 10.-TYPE OF DIVIDENDS PAID, BY SIZE OF NET INCOME OR DEFICrr
Returns with net ineme
Dividends paid
Only cash and Only corporation's Both cash and assets other than own stock,
asset a
Total other than own stock stock and corporation's 0 n stock
Size of net income
number
of Pinount, of cash
Amount of
returns Nwber
of Ntlmber Number
0, and assets
Amount Amount corpo stion's
of other than
o,wn stock
returns returns returns oan stock
(A-d dollars) ~Yhoo...d doll ... (lh-...d doll...) (Thou.-d dollar.)
(1) (2) (3) (4) (5) (6) (7)
Under $1,000 ...................................................... 98,132 5,000 15, 3" 124 1,373 40 301 551
$1,000 under $2,000.. ............................................. 45,647 4,380 10,548 96 2,661 33 131 877
$2,000 under $3,000 ............................................... 31,083 3,525 11,981 71 1, (Y76 19 147 328
$3,000 under $4,000 ............................................... 22,587 3,129 12,170 61 1,185 22 35 271
$4,000 -der $5,000 ............................................... 18,868 3, (Y.7 12,892 72 1,217 28 77 877
$5,000 under $10,ODO .............................................. 58,819 12,193 59,732 282 7,315 123 369 2,430
$10,000 under $15,000 ............................................. 36,010 8,903 66,312 230 7,213 194 762 4,431
$15,000 -der $20,000 ............................................. 25,399 7 110 53,204 19C 7,167 143 943 5,331
$20,000 under $25,000 ............................................. 24,420 6;826 59,998 286 9,367 172 911 6,124
$25,000 under $50,000 ............................................. 35,397 13,786 184,039 349 22,027 430 4,185 23,360
$50,000 under $100,000 ............................................ 18,877 9,164 223,250 242 20,705 331 5,859 28,522
$100,000 under $250,000 ........................................... 13,805 7,794 374,111 162 23,061 311 9,975 60,440
$250,000 under $500,000 ........................................... 5,399 3,395 353,827 51 13,987 183 12,265 47,520
500,000 under $1,000,000 ........... 2 953 2,034 427,991 27 11,820 130 19,445 55,560
1,000,000 under $5,000,000......... 21889
, 2,188 1,598,415 16 13,579 199 117,464 164,384
$5,000,000 under $10,000,000 ...................................... 432 355 935,147 2 4,099 37 77,471 84,590
$10,000,000 or more ............................................... 460 381 6,438,092 3 12,024 36 503,417 670,988
Total ....................................................... "l, 177 93,210 10,837,053 2,264 159,876 2,431 753,757 1,156,584
1
Returns without net income
Dividends paid
Only cash and assets Only corporation's Both cash and assets other than own stock,
Total other than own stock own stock and corporation's 0 n stock
Size of deficit number
of Amount of cash
Amount of
returns Number Number Amount Number and assets corporationts
Amount
of of of other than
o~ stock
returns returns returns own stock
(Th-...d doll... (Th-...d doll... (77-...d dollar.) (7h-..d d.11...
(9) (10) (12) (13) (14) (15) (16)
Under $1,000 ...................................................... 118,022 2,393 52,333 2,808 49 11

$1,000 under $2,000 ............................................... 33,798 1,132 5,584 1,158 6 15
$2,000 under $3,000 ............................................... 21,483 614 3,597 396 58 1,379
$3,000 under $4,000 ............................................... 15,581 522 3,G49 461 54 14
$4,000 under $5,000 ............................................... 11,627 453 8,830 272
$5,000 under $10,000 .............................................. 32,848 1,293 9,924 1,410 2,009 363
$10,000 under $15,000 ............................................. 14,834 717 5,694 1,387 92 187
$15,000 under $20,000 ............................................. 8,292 520 5,612 112 163 433
$20,000 under $25,000 ............................................. 5,167 317 7,122 506 128 507
$25,000 under $50,000 ............................................. 11,044 868 25,603 629 17 182
$50,000 under $100,000 ............................................ 5,213 456 14,831 976 9198 2,470
$100,000 under $250,000 ........................................... 2,478 349 34,510 1,209 556 2,706
$250,0D0 under $500,000 ........................................... 747 124 22,375 1,352 992 4,514
$500,000 under $1,000,000......................................... 264 67 24,651 - 4914 950
$1,000,000 under $5,000,000 ....................................... 199 66 33,245 3,069 2,030 2,656
$5,000,000 under $10,000,000 ...................................... 21 11 52,191 277 1,"g
$10,000,000 or more................................. ............. 10 4 5,546 -
Total ....................................................... 281,628 9,906 314,697 317 15,745 138 7,923 17,836
NDTE: See text for explanatory statements and for "Description of the Sample and Limitations of Data. "
Table 1l.-CASH DIVIDENDS PAID, BY INCOME STATUS, BY INDUSTRIAL DIVISION
Dividends paid in cash Dividends paid in cash

Industrial division or subdivision Returns with tur a with
Number of balance sheets Number of
Amount Amount balance
Re sheets
returns returns
Number of N=ber of
Aount
returns N=be
tur of returns Number of Amount
d (77. .-d (7h-:-d (Th .-d
re rns returns
d.11...) d.1 I-) d.11 -) d.11 ...
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
All industrial divisions ........................................... 441,177 95,222 11,517,013 94,385 11,458,275 281,628 9,841 312,103 9,382 296,627
Agriculture, forestry, and fishery ................................. 4,741 976 47,348 971 47,322 4,038 67 1,103 67 1,103
Mining and quarrying ............................................... 4,248 1,200 718,624 1,194 713,509 5,337 337 21,468 326 21,413
Construction ....................................................... 21,411 2,671 68,261 2,665 67,818 14,719 334 5,827 324 5,561
Manufacturing ...................................................... 74,608 20,929 5,669,869 20,816 5,661,633 46,288 2,700 131,729 2,656 123,965
Public utilities ................................................... 17,436 3,666 2,007,645 3,614 1,990,807 11,686 316 53,903 294 52,636
Trade .............................................................. 143,432 26,535 860,933 26,343 849,492 95,091 3,462 53,888 3,358 52,062
Wholesale ........................................................ 50,788 10,725 314,056 10,627 312,089 26,276 1,091 38,964 1,046 37,729
Retail ........................................................... 80,003 13,483 509,012 13,393 500,405 59,950 2,145 13,857 2,087 13,295
Trade not allocable .............................................. 12,641 2,327 37,865 2,323 36,998 8,865 226 1,067 225 1,038
Finance, insurance, real estate, and lessors of real property ...... 138,764 34,055 1,994,880 33,614 1,978,360 66,575 1,925 40,222 1,713 36,387
Banks and trust companies ........................................ 13,792 11,510 517,694 11,447 513,124 888 164 1,967 144 1,204
Other finance .................................................... 20,416 6,688 973,521 6,572 966,846 12,506 679 27,233 604 25,758
Inourance carriers and agents .................................... 9,572 2,266 297,064 2,253 296,675 3,318 99 2,027 97 1,992
Real estate and lessors of real property, except buildings ....... 94,984 13,591 206,601 13,342 201,715 49,863 983 8,995 868 7,433
Services ........................................................... 34,682 5,002 146,778 4,980 146,659 30,163 560 2,727 534 2,41.3
Nature of business not allocable ................................... 1,855 188 2,675 188 2,675 7,731 140 1,236 110 1,087
1 1 1 1 1 1 1 1 1 1
NOTE: See text for explanatory statements and for "Description of the Sample and Limitations of Date."
T.W. 12-INVENTORY VALUATION MFTHOD, BY MAJOR INDUSTRIAL GROUP
Number of returns by inventory valuation method

Total
active
Major industrial group Cost a
c Co t, cost- Cost-or-
corporation Cost Cost
Total Cost only Other only ost-or-
nd r-..rket
and
s and market and
returns market-or-
only the,
market other' other
(il (2) (3~ (4) (5) (6) (7) (8) (9)
1 All industrial groups ................................................. 722,805 337,626 76,006 257,531 3,022 739 211 79 1
2 Agriculture, forestry, and fishery .................................... 8,779 3,309 908 2,029 332 2 2
3 Farms and agricultural services ............... ..................... 7,971 3,205 866 1,97? 322 2 3
4 Forestry ............................................................ 262 52 (1) (1) - - 4
5 Fi.1c,ry ............................................................. 546 52 (1) (1)
(1) 5
6 Mining and quarrying .................................................. 9,585 2,667 1,018 1,569 52 (1) 6
7 Metal mining.. 1,018 155 42 97 (1) (1) 7
....... *** ....... - .... * ......... * ... ---l-111
8 Antb.racite mining ................................................... 140 (1) (1) (1) - 8
9 Bituminous coal and lignite mining .................................. 1,424 425 165 252 (1) 1 2 - 9
,a Crude petroleum and natural gas production .......................... 4,852 1,026 435 543 (1) (1) 1 - 10
11 Nonmetallic mining and quarrying .................................... 2,152 1,035 374 693 3 - - 11
12 Construction.......................................................... 36,130 17,967 6,274 11,566 100 (1) 1 2 (1) 12
13 Manufacturing ............................ i ............................ 120,896 93,847 16,406 76,361 517 474 13 61 15 13
14 Beverages. ... ...................................................... 2,759 2,257 550 1,672 (1) (1) - 1 - 14
15 Food and kiridred products ........................................... 10,289 8,338 1,661 6,535 85 1 (1) 15
(1) (1)
16 Tobacco
t manufactures ................................................ 172 129 (1) 80 1 - - - 16
17 Tax ile-mill products ............ .................................. 5,270 4,260 364 3,770 50 66 1 (1) - 17
18 Apparel and products made from fabrics .............................. 13,750 10,112 531 9,541 (1) 1 - 28
(1)
19 Lumber and wood products, except furniture .......................... 5,684 4,365 825 3,492 (1) 1 - 19
(1) (1)
20 Furniture and fixture ............................. ................. 4,598 3,953 540 3,399 (1) (1) - 2 - 20
21 Paper and allied products ........................................... 2,737 2,393 264 2,061 (1) (1) 1 2 1 21
22 Printing, publishing, and allied industries ......................... 14,158 8,688 2,485 6,166 (1) (1) 1 1 - 22
23 Chemicals and allied products. ...................................... 7,356 6,074 1,213 4,800 (1) (1) - 1 3 23
24 Petrels= and coal products ......................................... 715 559 184 357 (1) 3 1 24
25 Rubbe products.. ................................................... 793 660 69 5?6 (1) 1 1 25
26 Leather
r and products ................................................ 2,520 2,085 183 1,880 (1) 3 - 26
27 Stone, clay, and glass products ..................................... 4,284 3,392 836 2,512 (1) (1) - - 27
28 Primary metal industries ............................................ 3,241 2,53? 418 2,046 (1) (1) 1 2 28
29 Fabricated metal products, except ordnance, machinery, and 11,775 9,464 1,630 7,740 55 (1) - 3 - 29
transportation equipment.
K Machinery, except transportation equipment and electrical ........... 11,716 9,083 2,136 6,845 (1) (1) 1 (1) 2 30
31 Electrical machinery and equipment .................................. 3,937 3,370 506 2,825 (1) (1) 1 1 1 31
32 Transportation equipment, except motor vehicles ..................... 1,206 932 216 711 3 2 - - - 32
33 Motor vehicles and equipment, except electrical.. ................... 1,149 989 156 819 (1) - - 33
34 Ordnance and accessories ............................................ 88 (1) (1) (1) - - - 34
35 Scientific instruments; photographic equipment; watches, clocks ..... 2,027 1,638 318 1,303 (1) (1) - - 35
36 Other manufacturing ................................................. 10,672 8,500 1,26, 7,199 (1) (1) 1 - 36
37 Public
he utilities ........................................ ............. 29,122 5,284 2,745 2,474 (1) (1) 1 37
38 Tra portation ...................................................... 21,456 3,475 1,559 1,871 (1) (1) 1 38
39 Communication ....................................................... 4,433 846 558 284 (1) - - 39
40 Electric and gas utilities .......................................... 1,148 532 360 158 (1) - 40
41 Other public utilities... ........................................... 2,085 431 268 161 - I - I - 41
42 Trade ................................................................. 238,523 180,804 33,341 145,497 1,653 214 (1) 59 (1) 42
43 Wholesale ......... ................................................. 77,064 54,727 8,545 45,780 283 75 2 (1) (1) 43
44 Commission merchants .............................................. 10,731 3,157 800 2,338 (1) - - - -
he
5 Ot r wholesalers. ................................................ 66,333 51,570 7,745 43,442 264 75 2 (1) (1) 45
46 Retail .............................................................. 139,953 110,612 21,624 87,487 1,326 128 (1) (1) (1) 46
47 Food .............................................................. 10,597 8,242 2,096 6,086 53 (1) - 1 1 47
48 General merchandise ............................................... 7,545 6,098 944 4,773 326 (1) - (1) 2 48
49 Apparel and accessories ........................................... 18,469 15,509 1,467 13,356 670 9 1 1 (1) 49
50 Furniture and housefursishings .................................... 13,186 10,780 1,766 8,943 53 1 (1) (1) (1) 50
51 Automotive dealers and filling stations ........................... 25,218 20,590 3,099 17,434 (1) (1) 1 (1) 1 51
52 Drug stores ....................................................... 5,916 4,824 1,293 3,484 (1) (1) - - - 52
53 Eating and drinking places ........................................ 18,644 13,923 5,58o 8,214 (1) (1) - - - 53
54 Building materials and hardware ......................... ......... 15,992 13,250 2,359 10,815 53 (1) - 1 1 54
55 Other retail trade ................................................ 24,386 17,496 3,020 14,382 87 (1) - - 3 55
56 Trade not allocable ................................................. 21,506 15,465 3,172 12,230 (1) (1) (1) 2 1 56
57 Finance, insurance, real estate, and lessors of real property, ........ 205,339 11,863 7,049 4,562 185 (1) (1) (1) - 57
58 Fin nce ........................ .................................... 47,602 1,059 487 539 23 - 58
59 Banks and trust companies ......................................... 14,680 - - - - - 59
60 Credit agencies other than banks .................................. 24,418 783 319 434 (1) - 60
61 Holding and other investment companies ............................ 6,899 276 168 105 3 - 61
62 Security and cohnodity-exchange brokers and dealers ............... 1,605 - - - - - 62
63 Insurance carriers and agents. ...................................... 12,890 123 94 (1) 2 - 63
64 1Insurance ... riers ................................................ 3,004 (1) (1) (1) (1) - - 64
65 ns urance agents and brokers.. .................................... 9,886 103 72 (1) - - - 65
66 Real estate, except lessors of real property other than buildings ... 139,821 10,498 6,374 3,937 130 - - 66
67 Lessors of real property, except buildings .......................... 5,026 183 104 (1) (1) - - 67
68 Services .............................................................. 64,845 20,760 7,751 12,869 130 - 68
69 Hotels and other lodging places ..................................... 7,474 2,353 1,074 1,279 - - - 69
70 Personal services ................................................... 12,540 5,798 2,107 3,651 (1) - - 70
71 Business serv ices
Automotiv 15,792 3,093 1,115 1,961 (1) - 71
a -
72 repair ..........
services and
*- garages
.... * ....
..............................
- ........ -- ...... *** ... 6,151 2,475 732 1,742 - 72
73 Miscellaneous repair services, hand trades .......................... 3,587 2,382 632 1,729 (1) - - 73
74 Motion pictures ........ ............................................ 5,7L2 1,351 688 628 (1) - 74
75 Amusement, except motion pictures ................................... 6,785 1,721 738 963 (1) - 75
76 Other services, including schools ................................... 6,804 1,587 665 916 (1) - - 76
77 I Nature of business not allocable ......... ............................ 9,586 , 1,125 514 604 11 - 1 77
'Sampling variability of this item was too large to warrant showing it separately. However, this value was included in each total.
140TE: See text for explanatory statements and for "Description of the Sample and Limitations of Data."
T01. 13.-ACCOUNTING METHOD, BY MAJOR INDUSTHIAL GROUP
Number of returns by method of accounting

is Accrual
Total Cash has Other basis Not stated
basis
(1) (2) (3) (4) (5)
1 All industrial groups ........................................................................................... 722,805 86,958 440,277 3,968 191,602 1

2 Agriculture, forestry, and fishery ... : ................................... : ................... :: ................. 8,779 2,145 3,982 2,623
(1) 2
3 Farms and agricultural services ........................................ ................... ................. 7,971 1,954 3,574 (1) 2,414 3
4 Forestry ...................................................................................................... 262 61 123 - 78 4
5 . Fishery ....................................................................................................... 546 130 285 - 131 5
6 Mining and quarrying ............................................................................................ 9,585 1,364 5,702 2,500 6
(1)
7 Metal mining .................................................................................................. 1,018 254 533 1 230 7
8 Anthracite mining ............................................................................................. 140 - 106 - (1) 8
9 Bituminous coal and lignite mining ............................................................................. 1,424 163 857 403 9
1
10 Crude petroleum and natural gas production .................................................................... 4,852 725 2,798 (1) 1,319 10
11 Nonmetallic mining and quarrying .............................................................................. 2,151 222 1,408 (1) 514 11
12 Construction .................................................................................................... 36,130 3,394 22,163 752 9,821 12
13 Manufacturing ................................................................................................... 120,896 4,328 89,295 219 27,054 13
14 Beverages ..................................................................................................... 2,759 96 1,980 661 14
(1)
15 Food and kindred products ..................................................................................... 10,289 296 7,449 2,525 15
(1)
16 Tobacco manufactures .......................................................................................... 172 116 - 16
(1)
17 Textile-mill products ......................................................................................... 5,270 69 4,266 2 933 17
18 Apparel and products made from fabrics ........................................................................ 13,750 259 10,599 (1) 2,886 18
19 Lumber and wood products, except furniture .................................................................... 5,684 268 4,118 1,279 19
(1)
20 Furniture and fixtures ........................................................................................ 4,598 135 3,495 955 20
(1)
21 Paper and allied products ..................................................................................... 2,737 2,198 - 503 21
22 Printing, publishing, and allied industries ................................................................... 14,158 1,130 9,274 61 3,693 22
23 Chemicals and allied products ................................................................................. 7,356 387 5,264 2 1,703 23
24 Petroleum and coal products ................................................................................... 715 66 497 - 152 24
25 Rubber products ............................................................................................... 793 595 - 178 25
26 Leather and products .......................................................................................... 2,520 1,923 2 552 26
27 Stone, clay, and glass products ............................................................................... 4,284 118 2,965 2 1,199 27
28 Primary metal industries ...................................................................................... 3,241 56 2,571 1 613 28
29 Fabricated metal products, except ordnance, machinery, and transportation equipment ............................ 11,775 297 8,996 2,447 29
(1)
30 Machinery, except transportation equipment and electrical ..................................................... 11,716 379 8,574 2,742 30
(1)
31 Electrical machinery and equipment ............................................................................ 3,937 117 3,131 1 688 31
32 Transportation equipment, except motor vehicles ............................................................... 1,206 910 - 260 32
33 Motor vehicles and equipment, except electrical ............................................................... 1,149 958 1 168 33
34 Ordnance and accessories.. .................................................................................... 88 - 54 1 (1) 34
35 Scientific instruments; photographic equipment; watches, clocks ............................................... 2,027 96 1,487 (1) 439 35
36 Other manufacturing .......... ; ................................................................................ 10,672 376 7,875 (1) 2,415 36
37 Public utilities ................................................................................................ 29,122 3,CO6 17,008 79 8,429 37
38 Transportation ................................................................................................. 21,456 2,358 1-3,189 (1) 5,860 38
39' Communication ................................................................................................. 4,433 744 2,081 (1) 1,582 39
40 Electric and gas utilities .................................................................................... 1,148 61 776 3 308 40
41 Other public utilities ........................................................................................ 2,085 443 962 1 679 41
42 Trade ........................................................................................................... 238,523 13,501 164,094 1,603 59,325 42
43 Wholesale ..................................................................................................... 77,064 3,110 55,760 170 18,024 43
44 Commission merchants ........................................................................................ 10,-,31 1,304 6,364 (1) 3,021 44
45 Other wholesalers ........................................................................................... 66,333 1,806 49,396 128 15,003 45
46 Retail ........................................................................................................ 139,953 9,381 93,758 1,371 35,443 46
47 Food ........................................................................................................ 10,597 849 6,958 (1) 2,780 47
48 General merchandise ......................................................................................... 7,545 490 5,174 53 1,828 48
49 Apparel and accessories ..................................................................................... 18,469 555 14,107 116 3,691 49
50 Furniture and housefurnishings .............................................................................. 13,186 516 8,879 674 3,117 50
51 Automotive dealers and filling stations ..................................................................... 25,218 746 17,928 (1) 6,514 51
52 Drug stores ................................................................................................. 5,916 583 3,776 (1) 1,535 52
53 Eating and drinking places .................................................................................. 18,644 3,329 10,159 (1) 5,136 53
54 Building materials and hardware ............................................................................. 15,992 708 10,947 62 4,275 54
55 Other retail trade .......................................................................................... 24,386 1,605 15,830 384 6,567 55
56 Trade not allocable ........................................................................................... 21,506 1,010 14,576 62 5,858 56
57 Finance, insurance, real estate, and lessors of real property ................................................... 205,339 46,326 97,174 1,066 60,773 57
58 Finance .......................................................................................................
47,602 17,464 16,138 239 13,761 58
59 Banks and trust companies ...................................................................................
l4o68O 8,816 1,365 139 4,360 59
60 Credit agencies other than banks.. .......................................................................... 24,418 6,325 11,121 69 6,903
, 60
61 Holding and other investment companies ...................................................................... 6,899 2,021 2,682
62 2 182 61
Security and commodity-exchange brokers and dealers ......................................................... 1,605 302 970 316 62
63 Insurance carriers and agents .................................................................................
U, 890 2,004 5,396 170 5,320 63
64 Insurance carriers .......................................................................................... 3,004 ill 583 110 2,200 64
65 Insurance agents and brokers ................................................................................ 9,886 1,893 4,813 60 3,120 65
66 Real estate, except lessors of real property other than buildings ............................................. 139,821 25,308 73,906 646 39o961 66
67 Lessors of real property, except buildings .................................................................... 5,026 1,550 1,734 1,731 67
68 Services ......................I .................................................................................. 64,845 10,340 36,123 156 18,226 68
69 Hotels and other lodging places ............................................................................... 7,474 1,236 4,285 (1) 1,934 69
70 Personal services ............................................................................................. 12,540 1,447 7,466 (1) 3,592 70
71 Business services .............................................................................................
15,792 2,398 9,041 (1) 4,318 71
72 Automotive repair services and garages ........................................................................ -
6,151 521 3,854 1,776 72
73 Miscellaneous repair services, hand trades ..................................................................... -
3,587 336 2,252 999 73
74 Motion pictures ...............................................................................................
5,712 1,019 3,369 (1) 1,302 74
75 Amusement, except motion pictures .............................................................................
6,785 1,585 3,035 (1) 2,135 75
76 Other services, including schools .............................................................................
6,804 1,796 2,821 (1) 2,170 76
77 Nature of business not allocable ................................................................................
1 9,586 1,954 4,736 1 2,851 77
NOTE: See text for explanatory statements and for '-Description of the Sample and Limitations of Data."
Tobl. 14.-TOTAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOME OR DEFICIT, BY MONTH IN WHICH ACCOUNTING PERIOD
ENDED, BY MAJOR INDUSTRIAL GROUP
Returns for calendar, annual noncalendar, and part year

Returns for calendar year and part year periods , total
periods, total
Gross receipts from receipts from
Ne income or Net income or
Total assets sales and from Total assets sales and from
'ross
Major industrial group tdeficit deficit
operations operations
Number
u Amount Number ~ Amount Number Amount Number Amount Number Amount Number Amount
of (77-
&11: ~ d of -d of (Th-.-d of (Til-d f (Tho-d of (7h..-d)
returns returns d.1 I...) return. d.11...) returns d.11.,.) 0
returns doll-) returns d.11...
1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
1 All industrial groups ....................... Num

-7,856 805,300,082 528,905,708 722,805 36,328,435 385,094 685,142,872 347,131,483 429,802 29,159,616 1
2 Agriculture, forestry, and fishery .......... 7,790 2,620,450 2,175,547 8,779 122,283 4,022 1,563,448 1,059,742 4,833 67,544 2
3 Farms and agricultural services.. ......... 7,077 2,443,225 2,094,907 7,971 114,467 3,581 1,422,220 1,008,217 4,337 59,997 3
4 Forestry .................................. 252 134,779 32,826 262 10,121 209 120,061 31,809 219 8,712 4
5 Fishery ................................... 461 42,446 47,814 546 12,305 232 21,167 19,716 277 11,165 11
6 Mining and quarrying ........................ 8,704 11,891,355 8,238,566 9,585 740,913 5,118 9,590,138 6,310,784 5,823 673,657 6
7 Metal mining .............................. 885 3,014,673 1,384,676 1,018 201,771 673 2,879,978 1,271,346 784 194,875 -e
8 Anthracite mining ......................... 140 463,826 335,649 140 1,343 81 450,591 299,102 81 1,974 e
9 Bituminous coal and lignite mining ........ 1,197 1,913,613 1,614,361 11,424 14,960 827 1,539,599 1,247,497 1,003 11,499 9
10 Crude petroleum and natural gas production 4,481 5,295,829 3,746,378 4,852 409,078 2,301 3,842,220 2,708,162 2,614 376,805 1C
il Nonmetallic mining and quarrying ........... 2,001 1,203,414 1,157,502 2,151 113,761 1,236 877,750 794,677 1,341 88,504 11
12 Construction ................................ 33,700 6,254,171 17,214,952 36,130 487,594 18,276 4,876,717 10,328,275 20,131 329,777 12
13 Manufacturing. .............................. 115,820 181,890,701 264,546,794 120,896 18,289,865 62,829 138,363,017 184,302,260 66,798 14,434,039 13-
14 Beverages.. ............................... 2,660 4,097,944 7,343,363 2,759 340,325 1,649 2,554,883 3,978,964 1,737 210,388 14
15 Food and kindred products ................. 9,791 12,928,923 36,504,618 10,289 1,202,022 5,340 6,649,406 17,734,178 5,734 657,993 1,'
16 Tobacco manufactures.. .................... 169 2,896,230 3,674,860 172 318,916 120 2,861,750 3,601,333 122 316,897 IE
17 Textile-mill products ..................... 5,111 8,623,017 11,728,755 5,270 314,832 2,526 4,502,300 5,938,829 2,637 174,231 1-,
18 Apparel and products made from fabrics .... 13,076 3,369,864 8,857,300 13,750 145,153 5,462 1,512,863 3,784,661 5,938 63,024 IE
19 Lumber and wood products, except furniture 5,346 3,704,799 5,129,013 5,684 327,658 2,945 2,439,254 2,975,036 3,200 227,395 1S
20 Furniture and fixtures.. .................. 4,443 1,745,726 3,430,527 4,598 148,950 2,263 925,246 1,731,675 2,385 74,717 2C
21 Paper and allied products ................. 2,658 7,184,262 8,448,032 2,737 892,181 1,586 5,195,078 6,083,687 1,660 666,488 22
22 Printing, publishing, and allied industries 13,410 5,806,978 8,696,335 14,158 571,223 8,157 4,420,743 6,386,126 8,776 432,304 2;
23 Chemicals and allied products ............. 6,993 16,628,583 18,696,435 7,356 2,225,293 4,150 12,780,145 13,008,175 4,469 1,770,803 2~
24 Petroleum and coal products ............... 705 28,812,881 27,509,092 715 1,635,284 486 28,000,420 26,284,074 494 1,592,516 24
25 Rubber products ........................... 752 2,912,388 4,560,021 793 299,694 366 1,933,069 3,004,281 407 204,271 2!
26 Leather and products ...................... 2,443 1,488,053 3,054,928 2,520 112,062 1,102 422,165 900,790 1,166 29,086 2E
27 Stone, clay, and glass products ........... 4,079 5,456,300 6,553,662 4,284 792,878 2,478 4,615,294 5,3G6,772 2,669 687,578 21
28 Primary metal industries .................. 3,133 17,781,799 19,636,375 3,241 1,522,097 1,847 15,741,167 17,095,518 1,914 1,349.327 26
29 Fabricated metal products, except ordnance, 11,490 8,149,487 13,647,849 11,775 884,237 6,590 5,747,565 9,340,961 6,777 633,466 2S
machinery, and transportation equipment.
30 Machinery, except transportation equipment 11,272 16,018,734 21,197,535 11,716 1,756,874 6,"5 9,962,192 13,011,868 6,797 1,206,085 3C
and electrical.
31 Electrical machinery and equipment ........ 3,774 9,352,591 14,278,590 3,937 1,137,962 1,801 7,952,089 11,468,048 1,925 980,808 31
32 Transportation equipment, except motor 1,110 6,315,886 11,121,781 1,206 828,927 570 4,373,096 7,323,495 636 524,731 3;
vehicles.
33 Motor vehicles and equipment, except 1,121 12,400,W 20,212,831 1,149 2,116,081 615 11,569,283 18,748,603 637 2,087,192 3-
electrical.
34 Ordnance and accessories.. ................ 77 201,886 464,226 88 41,230 47 134,144 295,330 58 35,172 34
35 Scientific instruments; ~hotographic equip- 1,970 2,690,560 3,848,001 2,027 415,508 1,227 2,228,471 3,103,552 1,284 369,336 3!
ment; ~atches, clocks.
36 Other manufacturing ....................... 10,237 3,323,842 5,952,665 10,672 260,478 5,057 1,842,394 'o 3,196,304 5,376 140,231 3(
37 Public utilities ............................ 26,067 98,637,129 41,210,835 29,122 4,440,325 18,682 96,020,836 39,060,255 21,484 4,284,613 3-,
38 Transportation ............................ 19,721 41 030,289 21,273,548 21,456 1,004,902 13,378 39,604,333 19,675,077 14,971 916,653 3E
39 Communication ............................. 3,455 16:544 391 8,436,336 4,433 1,312,755 2,901 16,375,435 8,295,750 3,798 1,299,646 3~
40 Electric and gas utilities ................ 1,069 39 721:543 11,245,713 1,148 2,076,819 945 38,776,280 10,871,854 1,014 2,024,813 4C
41 Other public utilities .................... 1,822 1:340,906 255,238 2,085 45,949 1,458 1,264,788 1
. 217,574 1,701 43,501 41
42 Trade ....................................... 222,801 59,131,799 171,027,259 238,523 3,647,762 119,520 30,672,155 88,589,666 131,830 1,790,316 4~
43 Wholesale ................................. 73,884 26,933,902 82,409,626 77,064 1,530,430 37,713 15,354,622 43,777,155 40,163 933,419 4:
44 Commission merchants .................... 10,091 1,791,353 4,187,674 10,731 93,321 5,399 975,850 2,195,344 5,910 55,113 4~
45 Other wholesalers ....................... 63,793 25,142,549 78,221,952 66,333 1,437,109 32,314 14,378,772 41,581,811 34,253 978,306 4'
46 Retail.. .................................. 128,958 28,789,635 80,007,109 139,953 1,934,754 71,367 13,323,855 40,126,002 80,011 746,346 4(
47 Food .................................... 9,582 3,684,969 19,919,553 10,597 403,476 5,1" 1,887,425 9,186,158 5,987 186,797 4'
48 General merchandise ..................... 7,055 9,136,300 16,904,288 7,545 946,983 3,500 2,424,754 4,661,247 3,826 253,203 4~
49 Apparel and accessories.. ............... 17,545 2,635,281 5,585,415 18,469 113,421 6,986 820,278 1,595,405 7,659 31,476 41
50 Furniture and housefurnishings .......... 12,427 1,993,599 3,166,961 13,186 48,946 6,131 961,705 1,439,264 6,723 19,097 5(
51 Automotive dealers and filling stations. 23,937 4,634,436 19,431,501 25,218 115,037 17,025 3,545,945 15,275,031 18,010 94,696 51
52 Drug stores ............................. 5,267 583,694 1,704,180 5,916 41,008 2,971 269,157 795,046 3,533 17,380 5;
53 Eating and drinking places .............. 15,355 910,513 2,679,153 18,644 30,808 8,514 488,529 1,458,094 11,055 18,262 5~
54 Building materials and hardware ......... 15,209 2,554,967 4,901,523 15,992 120,771 9,593 1,649,588 3,039,184 10,192 78,470 51
55 Other retail trade ...................... 22,581 2,655,876 5,714,535 24,386 114,304 11,503 1,276,474 2,676,573 13,026 46,965 5!
56 Trade not allocable ....................... 19,959 3,408,262 8,610,524 21,506 182,578 10,440 1,993,678 4,686,509 11,656 110,551 5(
57 Finance,insurarce,2 real estate, and lessors 187,172 432,476,851 12,374,381 205,339 8,003,817 -119,939 398,104,947 10,439,498 135,373 7,229,855 5'
of real property.
58 Finance ................................... " 611 295,175,246 2,612,468 47,602 3,652,031 33,123 273,784,257 1,972,329 35,587 3,219,973 5f
59 Banks and trust companies ............... 14,374 232,820,380 908,356 14,680 2,080,915 13,752 223,121,014 865,863 14,051 2,044,262 5~
60 Credit agencies other than banks ........ 22,481 47,978,805 1,283,726 24,418 531,113 13,981 40,631,729 1,015,749 15,515 415,529 6(
61 Holding and other investment companies.. 6,212 12,396,783 63,216 6,899 976,892 4,430 8,727,327 40,242 5,020 710,784 61
62 Security and commodity-exchange brokers 1,544 1,979,278 357,170 1,605 63,111 960 1,304,187 50,475 1,001 49,398 6'
and dealers.
63 Insurance carrierS2 and agents ........ 11,391 106,491,383 7,591,984 12.890 3,457,349 8,512 106,219,512 7,386,444 9,867 3,439,274 6:
64 Insurance carrier.2 ......... :: -
.......... 2,335 105,341,387 6,806,755 3,004 3,384,840 2,279 105,326,464 6,796,904 2,9.34 3,382,880 6,
65 Insurance agents and brokers ............ 9,056 1,149,996 785,229 9,886 72,509 6,233 893,048 587,540 6,933 56,394 6'
66 Real estate,except lessorsof real property 126,863 27,669,318 2,150,958 139,821 785,317 75,087 15,126,727 1 1,067,990 86,053 467,623 6(
other than buildings.
67 Lessors of real property, except buildings 4,307 3,140,904 18,971 5,026 109,120 3,217 2,974,451 12,735 3,866 102,985 6'
68 Service..................................... 58,117 10,017,262 12,003,977 64,845 591,128 32,043 5,724,727 6,966,655 37,492 347,876 6~
69 Hotels and other lodging places .......... 6,693 2,3143,003 1,638,972 7,474 75,617 3,606 1,298,288 938,802 4,230 46,910 61
70 Personal services ......................... 11,567 1,019,406 1,845,596 12,540 62,122 6,708 612,638 1,081,171 7,559 33,630 -A
71 Business services ......................... 14,363 2,216,102 3,548,"6 15,792 183,676 7,812 1,572,486 2,323,589 8,928 135,196 7-
72 Automotive repair services and garages .... 5,505 633,191 610,001 6,151 19,083 3,197 373,635 357,931 3,692 11,113 7;
73 Miscellaneous repair services, hand trades 3,260 210,726 466,057 3,587 4,297 1,833 128,226 272,369 2,095 2,943 7~
74 Motion pictures ........................... 5,339 2,285,950 2,048,980 5,712 136,419 2,803 1,033,562 974,043 3,078 64,309 7,
75 Amusement, except motion pictures ......... 5,594 731,197 839,228 6,785 68,773 2,857 323,127 367, 777 3,847 27,780 7'
76 Other services, including schools ......... 5,796 577,687 1,006,697 6,804 41,141 3,227 382,765 650,973 4,063 25,995 74
77, Nature of business not allocable ............ 7,685, 380,364, 113,397 9,586, 4,748, 4,665, 226,8871 74,348, 6,038 1,939 7
Table 14.-TOTAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOME OR DEFICIT, By MONTH IN WHICH ACCOUNTING PERIOD
ENDED, BY MAJOR INDUSTRIAL GROU -Cmti-.d
Returns for annual noncalendar year periods, total Returns with annual accounting period ended-
Gross receipts from July 1954

Net i come or
Total assets sales and from Gross receipts from
deficit Net income or
operations a
Major industrial g rou p Total assets sale and from deficit
operations
Number
of Amount Number Amount Number Amount
Number Amount Number Amount Number Amount
of of
returns (Thwamd returns (77)wsand returns (Th-.-d of (A--d of (77...-d of (77.-.-d
d.11 ... ) &11...) &11... ) returns d.11... retu d.11-.) returns d.11 ...
(13) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23) (24)
1 All industrial groups ....................... 282,762 120,157,210 231,708 181,774,225 293,003 7,168,819 19,828 6,998,822 16,417 12,047,892 20,627 463,679 1
2 Agriculture, forestry, and fishery .......... 3,768 1,057,002 3,824 1,115,805 3,946 54,739 298 65,345 298 76,114 319 3,373 2
3 Farms and agricultural services ........... 3 496 1,021,005 3 564 11086,690 3 634 54,470 297 64,799 298 76,114 318 3,276 3
4 Forestry .................................. 5 1 3 1 546 - - 1 97 4
( ) (1) (1) (1)
5 Fishery ................................... 229 21,279 249 28,098 269 11,140 - - - - - - 5
6 Mining and quarrying ........................ 3,566 2,301,217 3,389 1,927,782 3,762 67,256 331 140 174 .340 110 751 361 870 6
7 Metal mining.. : .. ................... : ..... 212 134,695 163 113,330 234 6 896 (3) (3 ; (3 ) (3 ; (3 ) (3) 7
8 Anthracite mining ................... ..... 59 13,235 49 36,547 59 f631 4 1,040 4 3,624 4 1282 8
9 Bituminous coal and lignite mining ........ 370 374,014 390 366,864 421 3,461 30 31,573 39 31,406 40 31 9
10 Crude petroleum and natural gas production 2,180 1,453,609 2,033 1,038,216 2,238 32,273 238 97,016 228 62,076 248 946 10
11 Nonmetallic mining and quarrying .......... 765 325,664 754 372,825 810 25,257 57 7,309 57 10,917 57 317 11
12 Construction ................................ 15,424 3,377,454 14,964 6,886,677 15,999 157,817 809 148,463 820 304,218 871 4,195 12
13 Manufacturing ............................... 52,991 43,527,684 52,806 80,2",534 54,098 3,855,826 3,649 2,636,170 3,643 5,759,705 3,753 295,482 13
14 Beverages ................................. 1,011 1,542,961 982 3,364,399 1,022 129,937 65 455,G49 66 1,548,459 66 58,524 14
15 Food and kindred products ................. 4,451 6,279,517 4,464 18,770,"G 4,555 544,029 292 380,142 302 788,999 322 59,575 15
16 Tobacco manufactures ...................... 49 34,480 50 73,527 50 2,019 1 3,559 1 3,217 1 376 16
17 Textile-mill products ..................... 2,585 4,120,717 2,622 5,?89,926 2,633 140,601 171 107,279 171 200,704 171 7,946 17
18 Apparel and products made from fabrics .... 7,614 1,857,001 7,632 5,072,639 7,812 82,129 493 122,501 509 357,201 519 7,354 18
19 Lumber and wood products, except furniture 2,401 1,265,545 2,384 2,153,977 2,494 100,263 1" 56,430 154 101,517 154 3,692 19
20 Furniture and fixtures .................... 2,180 820,480 2,163 1,698,852 2,213 74,233 136 30,733 126 72,787 136 88 20
21 Paper and allied products ................. 1,072 1,989,164 1,067 2,364,345 1,077 225,693 56 37,804 56 56,278 56 3,990 21
22 Printing,publishing, and allied industries 5,253 1,386,235 5,209 2,310,209 5,382 138,919 510 79,439 501 150,952 511 10,460 22
23 Chemicals and allied products ............. 2,843 3,848,438 2,847 5,688,260 2,887 454,490 241 122,786 231 234,721 241 14,259 23
24 Patrols= and coal products ............... 219 812,461 220 1,225,018 221 42,768 17 6,952 17 20,191 17 1377 24
25 Rubber products ........................... 386 979,319 386 1,555,740 386 95,423 27 10,652 27 22,730 27 1,510 25
26 Leather and products ...................... 1,341 1,065,888 1,334 2,154,138 1,354 82,976 63 33,341 63 66,564 63 2,471 26
27 Stone, clayand glass products ............ 1,601 841,006 1,595 1,246,890 1,615 105,300 103 20,001 103 34,888 103 1,557 27
28 Primary metal industries .................. 1,286 2,040,632 1,317 2,540,857 1,327 172,770 59 81,298 59 140,111 59 7,067 28
29 Fabricated metal products,except ordnance, 4,900 2,401,922 4,668 4,306,888 4,998 250,771 307 308,293 297 601,745 317 28,626 29
30 Machinery, except transportation equipment 4,827 6,056,542 4,779 8,185,667 4,919 550,789 342 243,720 342 380,263 352 32,152 30
and electrical.
31 Electrical machinery and equipment ........ 1,973 1,400,502 1,929 2,810,542 2,012 157,154 110 127,255 ill 240,394 ill 15,801 31
32 Transportation equipment, except motor 540 1,942,790 549 3,798,286 570 304,196 29 180,375 29 303,048 29 18,917 32
vehicles.
33 Motor vehicles and equipment, except 506 830,785 502 1,464,228 512 28,889 33 51,937 33 102,151 33 5,904 33
electrical.
34 Ordnance and accessories .................. 30 67,742 30 168,896 30 6,058 3 . 34,914 3 66,100 3 5,398 34
35 Scientific inst-ents;photographic equip- 743 462,089 722 744,449 743 46,172 51 47,235 41 82,100 51 7,604 35
ment; watches, clocks.
36 Other manufacturing ....................... 5,180 1,481,448 5,155 2,756,361 5,296 120,247 396 94,475 401 184,585 411 2,588 36
37 Public utilities ............................ 7,385 2,616,293 7,306 2,150,580 7,638 155,712 477 181,192 477 159,549 487 14,306 37
38 Transportation ............................ 6,343 1,425,956 6,183 1,598,471 6,485 88,249 395 120,824 395 121,819 405 6,308 38
39 Communication ............................. 554 168,956 615 140,586 635 13,109 44 16,609 44 20,110 44 5,000 39
40 Electric and gas utilities ................ 124 945,263 134 373,859 134 52 006 33 149 1 14 745 1 2 527 40
41 Other public utilities .................... 364 76,118 374 37,664 384 2:348 ( 3 ) 1 ( 3 ( 3 ( 3 ) ( 3 ) 41
; ( 1) ;
42 Trade ....................................... 103,281 28,459,644 104,537 82,437,593 106,693 1,857,446 7,831 1,988,672 7,956 5,260,839 8,136 104,165 42
43 Wholesale ................................. 36,171 11,579,280, 35,729 38,632,471 36,901 597,011 2,378 866,686 2,369 2,572,100 2,429 50,676 43
44 Commission merchants .................... 4,692 815,503 4,656 1,992,330 4,821 38,208 320 59,956 311 140,544 321 2,819 "
45 Other wholesalers ....................... 31,479 10,763,777 31,073 36,640,141 32,080 558,803 2,058 806,730 2,058 2,431,556 2,108 47,857 45
46 Retail .................................... 57,591 15,465,780 59,178 39,881,107 59,942 1,188,408 4,833 1,057,671 5,001 2,505,014 5,071 51,000 46
47 Food .................................... 4,438 1,797,544 4,570 10,733,395 4,610 216,679 232 32,242 249 152,504 249 3,537 47
48 General merchandise ..................... 3,555 6,711,546 3,618 12,243,041 3,719 693,780 253 412,485 253 663,474 283 25,950 48
49 Apparel and accessories ................. 10,559 1,815,003 10,679 3,990,010 10,810 81,945 1,772 284,977 1,837 697,723 1,847 12,210 49
50 Furniture and housefurnishings .......... 6,296 1,031,894 6,382 1,727,697 6,463 29,849 525 76,862 535 124,871 535 2,170 50
51 Automotive dealers and filling stations. 6,912 1,088,491 7,048 4,156,470 7,208 20,341 479 61,786 499 269,377 499 11,168 51
52 Drug stores ............................. 2,296 314,537 2,373 909,134 2,383 23,628 126 10,788 132 30,650 132 273 52
53 Eating and drinking places .............. 6,841 421,984 7,508 1,221,059 7,589 12,546 "2 47,924 477 122,056 477 4,243 53
54 Building materials and hardware ......... 5,616 905,379 5,770 1,862,339 5,800 42,301 274 39,296 279 69,705 279 769 54
55 Other retail trade ...................... 11,078 1,379,402 11,230 3,037,962 11,360 67,339 730 91,311 740 174.654 770 3,016 55
56 Trade not allocable ....................... 9,519 1,414,584 9,630 3,924,015 9,850 72,027 620 64,315 586 183,725 636 2,489 56
57 Finance,insurance,2 real estate, and lessors 67,233 34,371,904 18,583 1,934,883 69,966 773,962 4,512 1,652,891 1,186 100,589 4,712 33,850 57
of real property.
58 Finance ................................... 11,488 21,390,989 4,400 640,139 12,015 432,058 621 848,570 168 37,903 661 9,986 58
59 Banks ar.d trust companies ............... 622 9,699,366 551 42,493 629 36,653 2 "8,704 2 88 2 123 59
60 Credit agencies other than banks ........ 8,500 7,347,076 3,271 267,977 8,903 115,594 48D 276,919 153 11,232 500 2,745 60
61 Holding and other investment companies.. 1,782 3,669,456 185 22,974 1,879 266,108 124 101,204 1 7,012 144 6,062 61
62 Security and commodity-exchange brokers 584 675,091 393 306,695 604 13,713 15 21,743 12 19,571 15 1,056 62
and dealers.
63 Insurance carriers2 and agents ............ 2,879 271,871 2,948 205,540 3,023 18,075 240 23 107 230 11,499 240 1 530 63
64 Insurance carrierS2 ..................... 56 14,923 65 7,851 70 1,960 (3 ) (3 i (3 ) (3) (3) (3) 64
65 Insurance agents and brokers ............ 2,823 256,948 2,883 197,689 2,953 16,115 228 19,384 218 10,026 228 1,312 65
66 Real estate, except lessors of real property 51,776 12,542,591 11,127 1,082,968 53,768 317,694 3,594 767,463 787 50,652 3,744 20,932 66
67 Lessors of real property, except buildings 1,090 166,453 108 6,236 1,160 6,135 57 13,751 1 535 67 1,402 67
68 Services .................................... 26,074 4,292,535 25,414 5,037,322 27,353 243,252 1,726 179,694 1,672 274,684 1,783 7,235 68
69 Hotels and other lodging places ........... 3,087 1,044,715 2,785 700,170 3,244 28,707 162 53,584 162 48,211 172 3,664 69
70 Personal services ......................... 4,859 406,768 4,961 764,425 4,981 28,492 295 22,325 290 41,923 300 974 70
71 Business services ......................... 6,551 643,616 6,209 1,224,857 6,864 48,480 435 27,794 425 70,000 446 739 71
72 Automotive repair services and garages .... 2,308 259,556 2,172 252,070 2,459 7,970 201 19,237 201 22,321 211 129 72
73 Miscellaneous repair services, hand trades 1,427 82,500 1,482 193,688 1,492 1,354 82 5,26b 82 12,207 82 11 73
74 Motion pictures ........................... 2,536 1,252,388 2,"2 1,074,937 2,634 72,110 205 29,657 175 29,498 205 '287 74
75 Amusement, except motion pictures ......... 2,737 408,070 2,788 471,451 2,938 40,993 205 14,356 175 23,374 205 1,122 75
76 Other services, including schools ......... 2,569 194,922 2,575 355,724 2,741 15,146 141 7,481 162 27,150 162 883 76
77 Nature of business_nt all-able ........... , 3,020 , 153,477 885 39,049, 3,548 2,809 , 195 6,221 (1) (1) 205 203 77
1
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data.-'
Table 14.-TOTAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOME OR DEFICIT, BY MONTH IN WHICH ACCOUNTING PERIOD
ENDED, BY MAJOR INDUSTRIAL GROUP-Cond...d
Returns with annual accounti ng period ended-Continued
August 1954 September 1954

Gross receipts from receipts from
Net income or Gross Net income or
Total assets Sal es and from Total assets sales and from
Major industrial group deficit deficit
Amount Number Amount Number
of Amount Number Amount Number Amount Number Amount
of
(Th=d (7h-md (77...-d of (7h-.-d (Th-d of (7bm.-d
d.,, -) relofrn. d.118r.) returns d.11 ...) returns d.11 ...) returns returns d.1 ...
(25) (26) (27) (28) (29) (30) (31) (32) (33) (34) (35) (36)
1 All industrial groups..... .................. 20,185 8,089,549 16,601 12,345,368 21,118 433,078 31,277 13,720,035 25,259 18,632,976 32,238 775,712 1
2 Agriculture, forestry, and fishery .......... 290 73,652 290 76,031 300 2,771 283 58,660 294 65,853 304 2,924 2
3 Farms and agricultural services ........... 269 71 158 269 72,141 269 2,874 253 56,803 264 62,363 274 21892 3
4 Forestry .................................. (1) (,i - - (3) 3) - - - - - - 4
5 Fishery ................................... (1) (3) (3) (1) (1~ (3) 5
(1) (3) (1) (3) (1) (1)
6 Mining and quarrying ........................ 180 404,325 165 232,022 196 11,890 397 156,893 342 125,787 397 1,804 6
7 Metal mining..: ........................... 3 12,560 2 13,033 3 2,040 26 10,036 6 3,600 26 '422 7
8 Anthracite mining ......................... 14 1,459 4 5,830 14 57 1 1,637 1 4,695 1 76 8
19 Bituminous coal and lignite mining ........ 15 19,096 20 17,767 20 1907 34 " 184 34 35,969 34 296 9
0 Crude petroleum and natural gas production ill 365,289 112 188,373 122 10,408 238 82,453 218 64,986 238 451 10
11 Nonmetallic mining and quarrying .......... 37 5,921 27 7,019 37 292 98 18,583 83 16,537 98 1,403 11
12 Construction ................................ 709 108,242 660 255,620 740 3,888 1,591 358,260 1,563 727,949 1,633 19,343 12
13 Manufacturing ............................... 3,814 3,094,528 3,833 5,700,808 3,923 259,465 5,987 5,994,426 5,9" 10,267,234 6,104 518,970 13
14 Beverages ................................. 85 418,173 45 617,220 85 16,894 141 163,008 14l 300,413 141 13,877 14
15 Food and kindred products ................. 313 371,960 323 890 902 333 32,816 540 733,861 552 1,896,508 562 77,960 15
16 Tobacco manufactures ...................... 2 7,139 2 17,115 (3) (3) (3) (3)
2 623 (1) (1) 16
17 Textile _mill products ..................... 233 444,367 233 672,525 233 21,077 299 915,963 310 1,155,397 310 31,462 17
18 Apparel and products made from fabrics .... 495 85,754 505 263,067 505 5, 0" 724 102,305 710 307,810 750 3,524 18
19 Lumber and wood products, except furniture 118 61,45? 108 106,499 118 1,807 270 81,852 260 160,501 270 2,990 19
20 Furniture and fixtures .................... 136 28,159 137 62,750 137 803 164 " 595 165 119,641 165 3,833 20
21 Paper and allied products..... ............ 49 144,053 49 165,050 49 16,952 14l 172,369 142 254,737 142 14,701 21
22 Printing,publishing, and allied industries 399 71,691 420 134,584 420 7,174 629 264,162 619 383,238 629 24,973 22
23 Chemicals and allied products ............. 269 399,073 269 756,267 2?9 43,864 325 .305,521 316 492,946 326 33,866 23
24 Petroleum and coal products ............... 17 70,054 17 133,533 17 2,499 18 182,100 18 258,668 18 10,511 24
25 Rubber products ........................... 37 27,842 37 47,882 37 859 43 83,136 43 134,960 43 9,972 25
26 Leather and products. ..................... 109 33,409 109 84,983 109 1,944 99 45,406 99 109,863 99 1,581 26
27 Stone, clay, and glass products ........... 84 27,074 84 47,708 84 1,124 172 108,705 174 165,465 174 9,253 27
28 Primary metal industries .................. 79 105,582 89 172,871 99 14,897 150 214,312 150 308,881 150 21,073 28
29 Fabricated metal products,except ordnance, 291 161,368 301 283,658 301 15,741 571 265,136 571 530,070 581 29,157 29
30 Machinery, except transportation equipment 373 227,467 378 "3,582 378 28,329 580 698,356 541 962,787 591 86,010 30
and electrical.
31 Electrical machinery and equipment ........ 164 77,832 154 176,708 164 1100 239 185,234 239 365,206 239 17,066 31
32 Transportation equipment, except motor 57 35,659 67 79,348 67 4,708 91 899,500 81 1,494,398 91 139,005 32
vehicles.
33 Motor vehicles and equipment, except 29 188,602 30 332,957 30 34,672 58 327,461 58 486,515 58 126,342 33
electrical.
34 Ordnance and accessories .................. 2 5,843 2 11,612 2 1,308 (3) (3)
(1) (1) (1) (1) 34
35 Scientific instruments;photogr~pbic equip- 62 15,360 52 26,616 62 1,095 -05 40,948 105 78,696 105 4,135 35
ment; watches, clacks.
36 Other manufacturing ....................... 411 86,610 422 173,371 422 5,335 614 153,808 625 291,020 635 14,512 36
37 Public utilities ............................ 561 375,108 527 162,510 577 15,122 797 324,716 791 294,608 812 18,447 37
38 Transportation ............................ 511 41,964 486 70,621 526 753 675 108,263 679 174,904 690 3,678 38
39 Communication ............................. 28 9,853 19 6,782 29 '162 82 17,004 82 13,564 82 9" 39
40 Electric and gas utilities ................ 7 317,307 7 83,416 7 14,428 16 194,835 16 98,786 16 13,502 40
41 Other public uitlities .................... (1) (3) (3) (3) (3) (3) (3) 41
(1) (1) (1) (1) (1)
42 Trade ....................................... 7,320 1,679,136 7,452 5,050,230 7,602 56,580 10,558 1,912,?28 10,669 6,224,064 10,900 63,461 42
43 Wholesale.. ............................... 2,516 1,125,186 2,527 3,394,353 2,607 34,186 3,702 1,039,541 3,610 3,599,221 3,741 31,981 43
Commission merchants .................... 333 62,335 344 182,885 354 1,998 462 142,096 458 468,242 468 2,746 "
45 Other wholesalers ....................... 2,183 1,062,851 2,183 3,211,468 2,253 32,188 3,240 897,"5 3,152 3,130,979 3,273 29,235 45
46 Retail .................................... 4,249 485,783 4,340 1,456,734 4,410 20,169 5,940 756,273 6,113 2,266,428 6,183 26,928 46
47 Food .................................... 351 52,351 351 294,566 361 6,139 572 94,256 596 462,470 596 8,542 47
48 General merchandise ..................... 203 21,007 203 58,967 213 1,444 162 17,338 177 39,873 177 385 48
49 Apparel and accessories... .............. 760 65,106 775 149,312 785 1,634 569 37,277 589 89,547 589 '240 49
50 Furniture and housefurnishings .......... 518 74,870 518 140,349 528 2,090 664 63,747 674 126,271 684 l,"l 50
51 Automotive dealers and filling stations. 518 83,481 549 316,334 559 819 975 161,351 988 609,038 1,C)08 1994 51
52 Drug stores ............................. 138 23,347 128 91,820 138 1,973 366 117,845 371 306,868 371 9,331 52
53 Eating and drinking places .............. 575 36,870 620 109,294 620 1,066 929 77,077 990 204,087 1,000 2,465 53
54 Building materials and hardware ......... 341 44,913 341 95,448 351 2,121 457 66,459 48? 143,584 487 2,836 54
55 Other retail trade ...................... 845 83,838 855 200,644 855 2,883 1,246 120,923 1,241 284,690 1,271 3,162 55
56 Trade not allocable ....................... 555 68,167 585 199,143 585 2.225 916 116,914 946 358,415 976 4,552 56
57 Financeinsurance,2 real estate, and lessors 4,932 1,458,266 1,449 116,989 5,233 36,"7 ?,918 4,277,862 2,126 245,651 8,172 119,341 57
of real property.
58 Finance ................................... 841 463,109 370 25,483 871 16,732 1 494 2,651,707 596 92,539 1S581 85,849 58
59 Banks and trust companies ............... (3) (3) (3) (3) 5 (3) (3) (3) 59
(1) (3) ( ) (3)
60 Credit agencies other than banks ........ 627 234,054 314 18,158 647 4,229 1,232 1,288,155 515 68,766 1,293 33,919 60
61 Holding and other investment companies.. 148 145,343 (3) (3) 158 11,612 i79 870,149 204 47,685 61
(1) (1)
62 Security and comodity-exchange brokers 45 12,823 27 4,510 45 298 68 173,069 50 22,961 68 2,616 62
and dealers.
63 Insurance carrierS2 and agents ............ 244 20,767 234 16,630 244 1,309 358 32,690 388 24,200 388 2,238 63
64 Insurance carrierS2 .............. - - - - - - (1)
3) (3) (3)
(1)
(3) 64
65 Insurance agents and brokers ..... 244 20,767 234 16,630 244 1,309 348 32,597 378 24,072 378 2,229 65
66 Real estate,except lessors of real property 3,744 945,019 844 74,620 4,015 18,059 5,978 1,572,085 1,132 128,368 6,115 30,435 66
67 Lessors of real property, except buildings 103 29,371 1 256 103 347 88 21,380 (3) 88 819 67
(1)
68 Services .................................... 2,168 1 877,546 2,195 751,073 2,296 46,692 3,438 623,104 3,457 678,626 3,577 32,232 68
69 Hotels and other lodging places ........... 155 64,322 155 50,104 155 1, M 501 156,959 512 119,613 512 2,935 69
70 Personal services ......................... 428 55,961 438 110,940 438 7,065 632 55,166 643 103,836 643 3,639 70
71 Bwines$ se"ices ......................... 472 56,265 469 115,842 519 5,984 709 66,245 725 157,539 745 8,428 71
72 Aubjmot~ve repair services and garages .... 174 24,337 174 24,500 184 1,111 365 39,452 376 49,866 386 609 72
73 Miscellaneous repair services, hand trades 129 7,095 139 15,532 139 10 195 11,871 205 26,929 205 727 73
74 Motion pictures ........................... 270 611,330 280 354,597 281 27,637 330 197,555 305 128,410 345 10,118 74
75 Amusement, except motion pictures ......... 234 34,525 244 41,999 264 2,043 382 72,596 362 51,972 402 4,593 75
76 Other services, including schools ......... 306 23,711 296 37,559 316 1,012 324 23,260 329 40,461 339 1,183 76
77 Nature of business not allocable ............ 211 18,746 (1) (3) 251 223 308 13,386 73 3,204 339 1810 77
1 1 1 1 1 1 1 1 1 1 1 1
See footnotes at end of table. See text for explanatory statementsand for "Description of the Sample and Limitations of Data.'-
ENDED, BY MAJOR INDUSTRIAL GROUP-Continued
Returns with annual accounti ng period ended-Continued
October 1954 November 1954

Gross receipts from Gross receipts from
Net income or Net income or
Major industrial group Total assets sales and from Total assets sales and fro.
deficit deficit
Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount
of (7h.-d of (77--d of (7h-.-d of (Th-and of (7h-.-d of (7h-.-d
turns d.11.,.) returns d.11 ...) returns dol I...) returns d.I I... ) returns d.1 I... ) returns d.11 ...
(37) (38) (39) (40) (41) (42) (43) (-) (45) (46) (47) (48)
All industrial groups ....................... 22,711 17,346,104 18,597 20,484,950 23,532 738,325 16,009 9,754,461 13,090 12,907,483 16,716 670,959
2 Agriculture, forestry, and fishery .......... 224 106,632 225 78,948 225 3,142 168 33,115 168 36,019 188 637
3 Farms and agricultural services- ........ 214 106,318 215 78,552 215 3,137 137 31,303 147 34,243 147 517
4 Forestry .......................... - - - - - - 1 155 1 550
(3) (3) 1 8
5 Fishery ........................... (3) (1) (3) (3) (3) (3) (3) (3)
(3) (3)
Mining and quarrying ........................ 299 102,922 258 110,534 309 3 236 171 103,298 162
( 3) 105,272 172 5,978
Metal mining .............................. (1) (1) (1) (3) 2 12,695 2
(3) 10,549 2 388
Anthracite mining ......................... (1) (3) (3)
(1) (1) (1) (3) (1) (1) (1)
Bituminous coal and lignite mining ........ 16 3,646 6 10,285 16 36 11 9,027 11 9,617 11 343
Crude patrols= and natural gas production 200 65,602 175 51,060 205 1,134 80 39,706 81 41,387 81 2,476
Nonmetallic mining and quarrying .......... 48 30,111 52 47,749 53 2,426 68 41,224 58 41,171 68 2,750
Construction ................................ 1,028 303,060 1,034 640,527 1,085 16,187 753 158,069 750 328,860 815 6,915
Manufacturing ............................... 4,489 7,012,225 4,5.34 14,266,587 4,605 475,421 3,611 4,688,463 3,612 8,280,141 3,718 479,400
Beverages ................................. 112 76,610 112 116,789 112 1,263 129 117,099 129 182,332 129 17,496
Food and kindred products ................. 412 990,948 413 5,764,176 413 14,664 158 200,617 157 520,480 158 14,250
Tobacco manufactures ...................... 3 1,163 3 5,417 3 132 1 3,875 1 3,853 1 49
Textile-ill products ..................... 189 521,842 199 563,198 199 10,770 193 595,862 193 862,209 193 9,679
Apparel and products made from fabrics .... 597 192,477 618 498,699 628 6,692 742 408,492 748 925,322 768 22,373
Lumber and wood products, except fuMiture 228 117,738 209 204,376 229 6,931 186 100,652 191 167,457 207 5,577
Furniture and fixtures .................... 169 37,404 179 90,857 179 2,524 179 208,404 160 383,979 180 22,845
Paper and allied products ................. 107 404,721 108 422,676 108 57,002 64 201,651 65 243,235 65 25,144
Printing, publishing,and allied industries 405 73,274 425 121,719 425 4,561 237 45,271 237 87,069 252 6,620
Chemicals and allied products ............. 207 266,040 207 474,362 207 31,173 271 472,146 272 629,224 272 44,444
Petroleum and coal products ............... 16 103,389 16 137,358 16 8,574 19 88,987 19 102,929 19 7,683
Rubber products ........................... 30 559,402 30 864,916 30 61,457 28 132,172 28 178,213 28 2,302
Leather and products ...................... 188 314,888 188 602,736 188 25,051 200 385,846 202 664,336 202 33,339
Stone, clay, and glass products ........... 135 111,991 136 150,417 136 11,438 134 80,209 125 125,023 135 8,702
Primary metal industries .................. 143 150,901 143 225,132 143 6,257 88 142,419 94 231,784 94 20,417
Fabricated metal products, except ordnance, 473 209,021 463 314,651 473 22,831 309 267,688 311 439,398 321 40 , 279
30 Machinery, except transportation equipment 396 2,482,853 411 3,000,346 411 164,971 278 691,948 268
and electrical. 1,062,305 278 73,954
31 Electrical machinery and equipment ........ 194 124,464 185 224,655 195 14,023 81 81,625 81 152,006 91 16,610 1
32 Transportation equipment, except motor 47 91,777 47 170,097 47 9,063 38 308,553 48 1 , 012 , 223 48 89 , 181 2
vehicles.
33 Motor vehicles and equipment, except 61 40,411 51 72,651 61 4,003 45 43,191
electrical.
45 80 , 710 45 4 , 341 3
34 Ordnance and accessories .................. 1 1,618 1 4,397 1 388
35 Scientific instruments;photographic equip-
2 7,694 2 41,922 2 2 , 153 4
53 17,600 52 26,454 53
ment; etches, clocks.
140 24 13,967 24 30 , 727 24 1 , 984 5
Other manufacturing ....................... 333 121,793 338 210,508 348 11,513 205 90,095 206 153,405 206 9,978
Public utilities ............................ 535 153,964 535 106,226 565 9,774 417 113,864 447 110,212 447 6 , 667
Transportation ............................ 460 94,607 450 86,175 480 7 536 375 65,986
(3) (3) 395 72,965 395 90
Communication ............................. ( 1) ( 1) ( 3) 3 15
( ) 24,232 25 22,668 25 4,851
Electric and gas utilities ................ 13 48,394 23 16,167 23 2 122 21
( 3 ) 13,895 21 11 967 21 1 418
Other public utilities .................... ( 1) ( 3) (3) (3) 5 (3 ) (3) (3 (3)
( ) (3) ; ( 31
Trade ....................................... 7,783 1,564,672 7,778 4,555,897 7,994 81,456 5,182 1,470,416 5,240 3,624,647 5,431 79,855
Wholesale ................................. 2,840 915,257 2,763 2,713,636 2,889 55,358 2,197 983,620 2,160 2,456,144 2,270 59 , 412
Commission merchants .................... 388 43,512 393 93,759 403 2,014 236 108,490 252 87,447 252 5 , 757 1
Other boleselers ....................... 2,452 871,745 2,370 2,619,877 2,486 53,344 1,961 875,130 1,908 2,368,697 2,018 53,655 1
Retail .................................... 4,127 548,752 4,193 1,565,387 4,253 19,683 2,396 358,318 2,501 852,592 2,562 13,427
Food .................................... 365 74,729 383 370,413 393 8,639 160 16,518 175 112,516 175 1 , 262
General merchandise ..................... 89 10,269 89 33,618 99 113 72 20,010 72 34,723 72 523
Apparel and accessories ................. 420 62,727 426 150,195 436 2,631 205 26,925 205 57,157 225 404
Furn iture and h cusefurn i shings .......... 309 36,090 314 74,064 314 1,113 181 30,938 170 50,373 181 1,814
Automotive dealers and filling stations. 732 117,239 732 409,296 742 1376 414 48,288 424 170,300 434 '821 f
Drug stores ............................. 137 7,301 137 22,072 137 '166 92 2,775 117 11,512 117 43
Eating and drinking places .............. 577 27,129 592 79,034 602 84 284 14,315 334 49,307 344 '302
Building materials and hardware ......... 747 144,278 758 265,131 758 6,454 679 156,053 705 278,506 705 7 , 565
Other retail trade ...................... 751 68,990 762 161,564 772 1,191 .309 42,496 299 88,198 309 2,939
Trade not allocable ....................... 816 100,663 822 276,874 852 6,415 589 128,478 579 315,911 599 7,016
Finanee,insurance'2 real estate, and lessors 5,895 7,706,933 1,949 153,241 6,129 121,092 3,981 2,940,120 1,156
of real property. 125,346 4,087 76 , 794
58 Finance ................................... 1,224 6,732,737 601 56,169 1,278 97,564 787 2,227,703 227 44,643 808 53 , 801 5
59 Banks and trust companies ............... '224 4,948,368 204 2,267 228 12,037 17 1,350,763 16 17,829 18 9 ,006 f
60 Credit agencies other than banks ........ 763 990,492 361 47,139 803 23,752 552 387,227 162 14 496 572 5 , 300 6
61 Holding and other investment companies.. 182 729,771 (3) (3) (3
(3) 192 61,062 173 434,340 173 38 ,091 6
62 Security and comodity-exchange brokers 55 64,106 24 5,958 55 713 45 55,373 39 12,298 45 1 ,404 6
and dealers.
63 Insurance carrierS2 and agents ............ 272 21,355 282 21,039 295 1 442 170
64 Insurance carrierS2 ..................... (3) (3) ( 3) ( 3) 3
14,456 170 9,379 170 1,692 63
(1) ( ) 1 3,924 1 1,450 1 777 4
65 Insurance agents and brokers ............ 266 19,274 276 19,250 286 1,169 169 10,532 169 7,929 169 915 65
66 Real estate, except lessors of real property 4,308 935,374 1,051 74,905 4,465 20,709 2,969 692,776 144 71 , 232 3 , 044 21 , 132 6
67 Lessors of real property, except buildings 91 17,467 (3) (3) (3) (3)
91 1,377 55 5,185 65 159 6
68 Services .................................... 2,267 392,274 2,268 570,814 2,369 28,028 1,509 233,453 1,499 295,157 1,570 13,844 6
69 Hotels and other lod g ing places ........... 421 112,989 440 81,602 461 510 167 57,836 177 41,884 177 957 6
70 P ersonal services ......................... 436 35,802 446 69,197 446 2,711 375 23,375 375 41,973 375 1 , 020
71 Business services ......................... 541 50,338 553 100,350 583 1,440 460 43,087 440 98,607 480 4 , 341
72 Automotive repair services and garages .... 151 14,530 151 21,247 161 590 87 9,352 97 10,364 97 912 7
74 Motion pictures ........................... 181 124,252 171. 201,134 181 17,468 196 39,295 165 30,875 196 1,005 7
75 Amusement , excep t moti on p i c tures ......... 254 34,142 244 52,946 254 3,514 112 48,553 123 46,676 123 4,420 7
76 Other services, including schools ......... 198 15,784 178 32,770 198 1,530 58 8,830 68 14,256 68 973 7
77 Nature of business not allocable ............ 1 191 3,422 (3) (3)
251 Ill 217 13,663 56 1,829 288 879 7
1 1 1 1 1 1 1
S
448404 0 - 57 - 7
Tabl. 14.-TOTAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOME OR DEFICIT, BY MONTH IN WHICH ACCOUNTU40 PERIOD
ENDED, BY MAJOR INDUSTRIAL GROUP-Contismd
Returns with annual accounting period ended-Continued
January 1955 February 1955

Gross receipts from Grow. receipts from
Major industrial group Total assets sales and from Total assets sale and from
deficit deficit
operations op:rations
Amount Number Amount Number Amount Number Amount Number Amount Number
of Amount
of (Th ..d (T11 ..d Of 'n-d Of (Zh-.-d of (7h--d (74--d
turns (d.11 ...) returns
of d.11 ... ) returns d.11-) returns d.11...) returns d.11...) returns dall-)
(49) (50) (51) (52) (53) (54) (55) (56) (57) (58) (59) (60)
1 All industrial groups ....................... 21,264 11,762,325 18,242 20,681,775 21,855 933,602 19,511 5,910,301 15,959 13,106,307 20,147 389,927 1
2 Agriculture , forestry, and fishery .......... 157 38,546 167 40,429 187 1,058 230 55,818 241 49,295 251 3,286 2
3 Farms and agricultural services ........... 142 36,767 162 39,499 172 838 205 54,129 206 48,062 216 3,397 3
4 Forestry .................................. (3) (1) - - (1) (1) - - - - - - 4
(3) (3) (3) (3) (3) (3) (3) (3) (3) 5
5 Fishery ................................... (1) (1) (3)
6 Mining and quarrying ........................ 107 23,704 107 21,012 107 1444 304 78,384 289 81,870 304 1872 6
- - - - - - (3) (3) (3) (3) 7
7 Metal mining .............................. (1) (1)
8 Anthracite mining ......................... - - - - - - 1 108 1 610 1 146 8
(3) (3) (3) (3)
9 Bituminous coal. and lignite mining ........ 1 1,537 1 2,677 1 8 (1) (3) 9
10 Crude patrols= and natural gas production 88 14,150 88 14,076 88 1453 204 53,618 199 61,353 204 1.131 10
Nonmetallic mining and quarrying .......... (3) (3) (3) (3) 56 13,399 56 14,570 56 1,116 11
11 (1) (1)
12 Construction ................................ 934 200,887 900 458,611 950 12,0_34 1,390 273,436 1,343 617,670 1,438 9,884 12
L3 Manufacturing ............................... 3,136 1,174,079 3,123 2,475,352 3,183 84,195 3,259 1,814,523 3,237 3,179,356 3,317 160,851 13
L4 Beverages ................................. 32 10,975 32 19,061 32 966 59 17,727 59 31,774 59 866 14
L5 Food and kindred products ................. 174 101,282 164 288,525 174 6,030 275 535,584 265 986,419 275 48,205 15
16 Tobacco manufactures ...................... - - - - - - - - - - - - 16
17 Textile-mill products ..................... 212 99,253 212 198,341 212 3,555 127 78,955 127 133,862 127 1,668 17
18 Apparel and products made from fabrics .... 762 181,152 767 498,077 767 5,313 537 84,233 542 246,187 542 2,153 18
19 Lumber and wood products, except furniture 118 44,118 118 90,981 118 2,241 161 104,074 142 161,658 162 9,985 19
20 Furniture and fixtures .................... 121 32,192 ill 63,185 121 2,841 174 30,847 174 66,186 174 4,875 20
21 Paper and allied products ................. 51 19,198 51 37,455 51 1,911 69 36,540 69 57,829 69 3,534 21
22 Printing, publishing,and allied industries 321 114,482 332 198,620 332 11,735 294 111,341 284 176,787 304 14,288 22
23 Chemicals and allied products ............. 109 33,298 109 86,274 109 4,737 131 55,424 142 101,765 142 41298 23
21,108 47,483 11 14 3,460 15 15,987 15 103 24
24 Pet roleum and coal products ............... 21 21 21
25 Rubber products ........................... 19 14,036 19 29,529 19 1,165 39 73,733 39 110,078 39 8,516 25
26 Leather and products ...................... 73 13,910 74 44,205 74 556 58 17,095 58 43,030 58 1,533 26
27 Stone, clay, " glass products ........... 76 69,762 76 106,361 76 13,356 98 25,450 98 50,055 98 3,444 27
28 Primary metal industries .................. 97 18,431 97 43,242 97 902 65 19,061 65 40,413 65 2,702 28
30 Machinery, except transportation equipment 239 109,557 229 161,264 259 12,263 253 210,283 243 227,097 253 19,422 30
and electrical.
32 Transportation equipment, except motor 18 4,712 is 13,031 18 61 28 17,074 28 20,112 28 24 32
vehicles.
33 Motor vehicles and equipment, except 31 11,604 31 24,826 31 1,902 28 17,513 28 39,687 28 1,317 33
electrical.
- - - - - - (3) (3) (3) (3) (3)
34 Ordnance and accessories .................. 34
35 Scientific instruments;photographic equip- 33 31,447 33 53,327 33 3,442 58 53,100 58 75,479 58 3,186 35
38 Transportation ............................ 269 39,245 249 51,291 269 2,840 513 68,565 505 92,710 525 7,095 38
(3) (3) (3) (3) 17 10,211 57 6,604 57 11,023 39
39 Commuzi.ati .............................. (1) (1)
40 Electric and gas utilities ................ 1 3,039 1 1,596 1 272 306,536 12 131,362 12 16 150 40
(3 (3) (3) ( 3) ( 3) ( 5) 41
41 Other public utilities .................... (1) (1) (3) ) (1) (3) 12 (1)
42 Trade ....................................... 11,412 8,615,050 11,451 17,315,803 11,663 775,183 7,286 1,891,065 7,368 8,617,036 7,534 140,889 42
43 Wholesale ................................. 2,321 769,418 2,281 2,550,325 2,371 31,899 2,530 627,818 2,501 2,233,736 2,576 30,752 43
44 Commission merchants .................... 348 41,839 318 82,386 358 3,322 285 40,944 295 138,819 -105 2,461 44
45 Other wholesalers ....................... 1,973 727,579 1,963 2,467,939 2,013 28,577 2,245 586,874 2,206 -094,917 2,271 28,291 45
46 Retail .................................... 8,426 7,732,357 8,490 14,482,317 8,612 737,574 4,073 1,160,501 4,184 6,096,386 4,245 106,133 46
47 Food .................................... 266 60,351 266 296,739 266 5,572 298 697,209 313 5,021,886 313 89,364 47
48 General merchandise.. ................... 1,661 6,075,214 1,654 10,874,302 1,675 660,551 175 42,878 175 70,056 175 864 48
49 Apparel and accessories ................. 3,479 1,007,678 3,493 2,137,851 3,534 53,352 752 83,042 747 186,808 757 1,568 49
50 Furniture and housefurnishings .......... 656 227,858 667 316,298 667 5,702 433 89,142 478 137,351 498 4,209 50
51 Automotive dealers and filling stations. 374 75,514 355 272,932 385 3,089 450 60,664 455 246,907 465 2,174 51
52 Drug stores ............................. 192 28,929 202 87,464 202 1,923 150 8,878 160 27,279 160 578 52
53 Eating and drinking places .............. 387 17,253 397 53,365 407 238 641 27,863 676 83,172 677 1393 53
54 Building materials and hardware ......... 552 81,048 572 167,580 582 2,084 494 62,967 485 147,524 495 3,160 54
55 Other retail trade ...................... 859 158,512 884 275,786 894 5,063 680 87,858 695 175,403 705 4,589 55
56 Trade not allocable ....................... 665 113,275 680 283,161 680 5,710 683 102,746 683 286,914 713 4,004 56
57 Finance,insurance,2 real estate, and lessors 3,809 1,463,301 944 112,987 3,951 51,613 4,625 1,2.34,691 1,338 121,851 4,732 44,059 57
of real property.
58 Finance ................................... 542 508,910 128 24,659 570 21,610 693 396,734 268 22,536 694 21 192 58
- - - - - - (3) (5) 59
59 Banks and trust companies ............... (3) (3) (1) (3)
60 Credit agencies other than banks ........ 366 279,744 104 13,521 383 6,317 544 265,600 185 10,596 544 4,332 60
173 14 206 96 103,618 (3) (3) 97 16 780 61
61 Holding and other investment companies.. 162 210,697 (1) (1)
14 1:087 (3) (3) (3) (3) (3) (3) 62
62 Security and cosmodity-exchange brokers 14 18,469 3 9,970
and dealers.
63 Insurance carrierS2 and agents ............ 141 17,603 151 8,929 151 391 179 14,849 169 14,645 179 540 63
(3 (3)
64 Insurance carrierS2 ..................... (3) 3) (3 ) (3 ) ) 1 319 1 527 1 24 64
65 Insurance agents and brokers ............ 136 16,099 146 7,970 146 299 178 14,530 168 14,118 178 516 65
66 Real estate, except lessors of real property 3,090 928,493 663 78,034 3,184 28,480 3,660 811,843 900 84,150 3,756 22,453 66
67 Lessors of real property, except buildings 36 8,295 2 1,365 46 1,132 93 11,265 1 520 103 ' 126 67
68 Services .................................... 1.270 188,685 1,214 194,636 1,305 6,335 1,534 138,386 1,473 202,357 1,626 9,536 68
69 Hotels and other lodging places.. ......... 113 41,730 103 19,729 113 629 194 24,738 139 18,616 194 864 69
70 Personal services ......................... 243 18,815 253 37,593 253 1,309 266 18,203 271 41,372 271 539 70
71 Business services ......................... 419 84,089 373 80,379 429 3,223 386 30,881 391 53,339 432 2,543 71
72 Automotive repair services and garages .... 115 17,010 100 13,633 115 11,526 164 17,398 132 11,284 164 528 72
73 Miscellaneous repair services, hand trades 51 2,148 61 5,955 61 87 52 3,066 52 4,639 52 '39 73
74 Motion pictures ........................... 117 9,795 122 13,386 122 209 151 17,631 137 28,169 152 1622 74
76 Other services, including schools ......... 122 7,678 112 14,004 122 1,059 180 9,066 170 23,217 180 2,034 76
77 Nature of business not allocable ............ 140 11,953 37 4,701 190 190 320 1 34,606 1 75 5,276 1 330 289 77
1 1 1 1 1 1 1 1 1 __L_
ENDED, BY MAJOR INDUSTRIAL GROUP,Continued
March 1955 April 1955
Gross receipts from Gross receipts from Net income or

Net income or
Major industrial group Total assets sales and from Total assets sales and from
deficit deficit
Amount Number Amount Number Amount Nunber Amount Number Amount Number Amount
(Th-...d of (Th...-d of (Th ..d of (77--d of (7h-.-d of (77--d
d.11 ...) returns d.11.,.) returns 6.11...) returns d.11 ...) returns d,,,,,s) returns d.11...
(61) (62) (63) (64) (65) (66) (67) (68) (69) (70) (71) (72)
1 All industrial groups ....................... 35,086 10,638,077 28,898 17,892,123 36,447 631,993 24,691 8,649,410 19,221 11,470,077 25,646 477,286 1
2 Agriculture, forestry,and fishery .......... 570 159,931 560 150,573 591 6,739 283 85,370 294 83,160 294 5,550 2
3 Farms and agricultural services ........... 537 146,248 528 148,228 548 5 777 279 81,657 290 79,844 290 5,772 3
4 Forestry .................................. ( 3) - - (3) - - - - - - 4
( 1) ( 5)
Fishery ................................... (3) (3) (3) (3) 4 3,713 4 3,316 4 '222 5
5 (1) (1)
6 Mining and quarrying ........................ 485 368,645 471 307,153 521 9 051 314 192,494 )304 205,606 334 6 616 6
39 1 639 (3) (3 (3 5 7
7 Metal mining .............................. 28 12,067 29 8,'703 (1) ) ( )
8 Anthracite mining ......................... (3) (3) (3) (3 ) (3) (3) 2 3,106 2 5,696 2 1125 8
9 Bituminous coal and lignite mining ........ 70 88,901 85 75,810 85 982 15 97,965 15 100,864 15 1,833 9
10 Crude petroleum and natural gas production 249 159,767 219 116,883 249 98 193 64,689 163 64,074 193 1,523 10
11 Nonmetallic mining and quarrying .......... 132 107,277 132 103,414 142 8,591 92 25,427 112 33,423 112 3,299 11
12 Construction ................................ 2,902 620,507 2,855 1,413,308 2,986 33,830 1,593 352,219 1,456 726,680 1,626 16,701 12
13 Manufacturing ............................... 6,427 3,559,569 6,462 6,584,311 6,596 335,418 4,405 2,632,817 4,288 4,323,923 4,453 239,320 13
14 Beverages ................................. 153 61,614 163 173,702 163 4,892 69 105,854 69 159,506 69 12,477 14
15 Food and kindred products ................. 664 880,579 648 2,012,832 668 103,993 403 351,175 413 830,480 413 23,916 15
16 Tobacco manufactures ...................... 1 510 1 1,126 1 1 3 3,429 3 5,005 3 116 16
17 Textile-mill products ..................... 258 305,189 258 443,213 259 13,611 225 137,600 215 235,802 225 1,876 17
18 Apparel and products made from fabrics .... 660 108,629 641 317,926 681 2,618 596 113,625 597 325,578 617 4,030 IS
20 Furniture and fixtures .................... 270 102,080 280 .221,145 280 9,673 215 68,781 205 142,634 215 4,984 20
22 Printing, publishing, and allied industries 659 169,752 660 293,899 680 11,896 465 160,885 430 257,105 465 17,516 22
23 Chemicals and allied products ............. 265 83,666 265 175,495 265 11,224 154 44,842 154 92,254 154 4,173 23
25 Rubber products ........................... 27 12,406 27 28,271 27 1,390 21 14,777 21 33,547 21 3,009 25

26 Leather and products ...................... 136 35,081 136 86,890 146 3,525 117 34,109 117 93,896 117 2,486 26
27 Stone, clay, and glass products ........... 263 118,382 263 169,990 263 13,247 97 121,187 87 125,270 97 23 261 27
61,400 136 105,015 136 4,752 116 41,316 116 69,901 116 1 366 28
28 Primary metal industries .................. 126
29 Fabricated metal products, except ordnance, 676 160,004 666 315,005 696 9,200 405 140,908 405 242,824 415 13,247 29
and electrical.
32 Transportation equipment, except motor 55 15,412 55 33,331 55 480 88 166,936 78 236,113 88 12,637 32
vehicles.
33 Motor vehicles and equipment, except 66 31,721 66 64,972 66 2,079 25 11,115 25 30,942 25 279 33
electrical.
34 Ordnance and accessories .................. 1 364 1 651 1 1114 - - - - - - 34
38 Transportation ............................ 738 153,994 728 151,348 748 5,409 601 161,117 569 136,247 609 10,485 38
Communication ............................. 61 16,557 81 9,177 81 11 977 23 3 472 ~23 4,852 23 1 036 39
39
9,770 5,623 9 1,106 (3) 3 (3 (3 ( 3) 40
40 Electric and gas utilities ................ 9 9 , ) (1)
41 Other public utilities .................... 46 12,747 46 4,480 46 86 42 2,124 42 2,253 42 191 41
42 Trade ....................................... 12,001 2,540,431 12,081 8,510,192 12,346 154,925 8,057 1,554,998 8,194 5,305,911 8,364 101,224 42
43 Wholesale ................................. 4,271 1,307,920 4,199 4,550,125 4,334 76,411 3,149 799,628 3,070 2,793,655 3,200 46,747 43
44 Commission merchants .................... 558 63,784 543 183,303 563 2,818 368 64,632 358 178,824 368 2,586 44
45 Other wholesalers ....................... 3,713 1,244,136 3,656 4,366,822 3,771 73,593 2,781 734,996 2,712 2,614,831 2,832 44,161 45
46 Retail .................................... 6,416 1,060,150 6,597 3,525,886 6,687 72,271 4,098 599,094 4,284 2,060,026 4,314 43,951 46
47 Food .................................... 708 330,898 699 1,702,663 719 45,451 387 179,211 393 918,106 393 20,871 47
48 General merchandise ..................... 220 27,695 2.30 76,822 230 1,331 144 12,138 144 27,377 144 145 48
49 Apparel and accessories ................. 713 71,924 683 114,999 713 1,185 394 24,198 409 52,572 409 671 49
50 Furniture and hausefurnishings .......... 8D4 121,544 814 231,323 834 1,000 564 58,371 554 108,629 564 654 50
51 Automotive dealers and filling stations . 882 149,890 897 546,863 917 4,199 501 87,474 521 341,813 521 2,495 51
52 Drug stores ............................. 177 29,682 187 91,469 187 3,020 153 17,368 158 45,156 158 1,442 52
53 Eating and drinking places .............. 884 41,708 989 131,026 989 847 590 36,984 720 110,912 740 1,566 53
54 Building materials and hardware ......... 630 94,573 650 230,354 650 5,576 411 57,625 416 122,165 416 4,050 54
55 Other retail trade ...................... 1,398 192,236 1,448 400,367 1,448 9,662 954 125,715 969 333,296 969 12,247 55
56 Trade not allocable ....................... 1,314 172,361 1,285 434,181 1,325 6,243 810 156,286 840 452,230 850 10,526 56
57 Financeinsurance,2 real estate, and lessors 8,072 2,788,230 2,144 207,095 8,485 58,381 6,595 3,230,611 1,596 214,802 6,887 73,953 57
of real property.
58 Finance ................................... 1,202 1,280,648 409 58,925 1,260 22,697 1,117 1,893,485 372 83,496 1,149 32,868 58
59 Banks and trust companies ............... 42 458,153 43 15,215 43 1,380 28 227,120 (3) 28 1,018 59
(1)
60 Credit agencies other than banks ........ 906 501,448 297 18,266 953 5,208 874 1,192,970 310 17,609 894 7,913 60
61 Holding and other investment companies.. 161 280,681 (3) (3) 171 14,244 156 272,626 1 21 158 21,724 61
62 Security and comnodity-exchange brokers 93 40,366 44 23,214 93 1,865 59 200,769 43 65,297 69 2,213 62
and dealers.
63 Insurance carrie~2 and agents ............ 367 37,872 367 31,502 378 3 155 217 26,841 236 16,826 237 1 667 63
Insurance carriers2 ..................... (3) 3) (3 (3) (3) 3 299 (3 3) (3 (1) 64
64 ) ( ) 1 ) ( )
65 Insurance agents and brokers ............ 357 37,350 357 31,419 367 3,138 216 26,542 226 16,819 226 1,665 65
66 Real estate,except lessorsof real property 6,360 1,453,517 1,357 116,645 6,684 32,906 5,105 1,294,341 976 113,972 5,335 38,878 66
67 Lessors of real property, except buildings 143 16,193 (3) (3) 163 1377 156 15,944 (3) (1) 166 540 67
68 Services .................................... 3,462 399,102 3,343 544,707 3,655 28,233 2,409 410,881 2,278 460,125 2,605 22,349 68
69 Hotels and other lodging places ........... 354 89,681 269 43,069 374 3,339 348 226,011 247 137,049 384 7,372 69
71 Business services ......................... 882 96,603 845 181,630 922 5,954 569 45,415 504 119,238 569 3,433 71
72 Automotive repair services and garages .... 302 24,692 262 26,571 322 837 233 38,990 208 23,490 263 1,965 72
74 Motion pictures ........................... 356 51,393 357 63,845 367 5,326 186 12,073 196 22,614 216 910 74
76 Other services, including schools ......... 292 17,260 313 39,468 333 1,990 246 11,151 236 26,236 266 16 76
77 Nature of business not allocable ............ 313 8,594 118 4,156 383 792 358 19,606 166 5,081 398 '216 77
See footnotes at end of table. See text for explanatory atatements and for "Description of the Sample and Limitations of Data.'-
ENDED, BY MAJOR INDUSTRIAL GROUP-Continued
May 1955 June 1955

Major industrial group Total assets sales and from Total assets sales and from
operations deficit deficit
operations
er Amount Number Amount Number Amount Number Amount Number Amount Number Amount
(77-and of (Th=d (7h--d f . (7h .. d of of
(7ho-d (77-and
re tof
urns d.11... ) returns d.11 ) re'of- d,1 I...) return d.11...) returns d.11...) re turns d.11-)
(73) (74) (75) (76) (77) (78) (79) (80) (81) (82) (83) (84)
I All industrial group& ....................... 23,017 7,684,295 18,211 12,285,147 23,741 445,583 49,183 19,603,831 41,213 29,920,127 50,936 1,208,675 1
2 Agriculture, forestry, and fishery .......... 425 102,343 425 125,900 425 5,367 840 277,590 862 333,483 862 19,892 2
3 Farms and agricultural services.. ......... 370 99,235 370 118,965 370 6,063 793 272,588 815 328,679 815 19,927 3
4 Forestry .................................. - - - - - - (3) (3)
(1) (3) (3) (1) 4
5 Fishery ................................... 55 3,108 55 6,935 55 '696 37 4,774 37 4,337 37 181 5
6 Mining and quarrying ........................ 302 227,379 263 183,939 303 15,896 696 502,999 688 "3,836 758 13,231 6
7 Metal mining .............................. 13 27,895 13 19,379 13 5,751 65 41 "9 46 49,534 66 2,005 7
8 Anthracite mining ......................... - - - - - - (3) (3) (3)
(1) (1) 8
19 Bituminous coal and lignite mining ........ 41 10,730 41 12,880 41 161 125 66,088 126 67,789 146 9102 9
0 Crude petroleum and natural gas production 192 165,383 153 107,345 193 7,744 387 345,936 397 266,583 417 8,077 10
11 Nonmetallic mining and quarrying .......... 56 23,371 56 44,335 56 2,465 103 45,025 103 49,431 113 2,597 11
12 Construction ................................ 1,170 198,579 1,094 424,061 1,214 7,505 2,545 655,732 2,489 989,773 2,641 27,335 12
13 Manufacturing ............................... 4,143 3,119,286 4,093 5,561,065 4,196 264,094 10,071 7,801,598 10,037 13,846,052 10,250 743,210 13
14 Beverages ................................. 45 10,079 45 15,061 45 361 121 106,773 121 200,082 121 2,321 14
15 Food and kindred products ................. 365 794,364 365 2,191,387 365 70,614 855 939,105 862 2,599,732 872 92,006 15
16 Tobacco manufactures ...................... 3 4,354 3 10,976 3 357 17 6,509 17 18,829 17 586 16
17 Textile-mill products ..................... 191 120,061 197 205,259 197 3,340 497 794,346 507 1,119,416 507 35,617 17
18 Apparel and products made from fabrics .... 639 110,461 650 361,249 650 4,145 1,369 347,372 1,345 971,523 1,385 18,883 18
20 Furniture and fixtures .................... 159 59,415 159 111,487 159 5,168 457 177,870 467 364,201 467 16,599 20
22 Printing,publishing, and allied industries 365 61,494 3" 121,083 365 5,242 979 234,444 957 385,153 999 24,454 22
23 Chemicals and allied products ............. 257 795,561 262 658,333 262 76,459 614 1,270,081 620 1,986,619 630 185,993 23
25 Rubber products ........................... 45 4,958 45 12,599 45 '570 70 46,205 70 93,015 70 5,813 25
26 Leather and products ...................... 140 45,083 140 128,079 140 2,826 158 107,720 148 229,556 158 7,664 26
27 Stone, clay, and glass products ........... 140 38,827 140 66,042 140 4,195 299 119,418 309 205,671 309 15,723 27
28 Primary metal industries .................. 102 391,625 97 339,687 107 29,584 261 814,287 271 863,820 271 65,485 28
30 Machinery, except transportation equipment 360 100,791 361 181,345 361 9,524 992 641,493 982 936, "2 992 70,404 30
and electrical.
31 Electrical machinery and equipment ........ 129 166,741 12l 359,275 131 22,641 443 250,752 423 530,563 453 25,078 31
32 Transportation equipment, except motor 21 24,951 20 42,511 21 408 68 197,841 78 394,074 78 29,712 32
vehicles.
33 Motor vehicles and equipment, except 40 8,895 40 16,859 40 245 90 98,335 95 211,958 95 489 33
electrical.
34 Ordnance and accessories .................. 2 1,703 2 5,041 2 468 7 11,999 7 35,665 7 680 34
36 Other manufacturing ....................... 461 75,560 432 162,534 482 4,256 999 366,023 988 692,289 1,009 35,500 36
37 Public utilities. ........................... 559 135,645 539 191,209 560 16,716 1,646 532,810 1,587 520,409 1,687 32,5" 37
38 Tranu,portation ............................ 484 117,751 474 170,655 485 16,661 1,322 453,640 1,253 469,736 1,353 27,394 38
39 Co-unication ............................. 27 12,720 17 13,257 27 159 209 54,789 209
(3) 37,979 209 4,137 39
40 Electric and gas utilities ................ (3) (1) (1) (1) (3) (3) (3) (3) (3)
(1) (1) 40
41 Other public utilities .................... 38 2,967 38 3,907 38 92 92 11,951 102 7,324 102 631 41
42 Trade ....................................... 8,003 1,572,953 8,131 5,318,730 8,276 86,412 17,948 3,669,523 18,217 12,654,244 18,447 213,296 42
43 Wholesale ................................. 3,400 999,893 3,414 3,696,711 3,499 57,288 6,867 2,144,313 6,835 8,072,465 6,985 122,301 43
44 Commission merchants .................... "6 49,534 461 146,357 476 3,553 948 138,381 923 289,764 953 8,134 "
45 Other wholesalers ....................... 2,954 950,359 2,953 3,550,354 3,023 53,735 5,919 2,005,932 5,912 7,782,701 6,032 114,167 45
46 Retail .................................... 3,748 449,831 3,852 1,267,438 3,902 21,275 9,285 1,257,060 9,623 3,802,899 9,703 75,997 46
47 Food .................................... 318 45,657 339 252,511 339 3,608 781 Z14,122 606 1,149,021 806 23,674 47
48 General merchandise.. ................... 149 18,480 164 39,807 174 652 427 54,032 457 124,022 477 2,012 48
49 Apparel and accessories ................. 304 23,589 314 54,705 314 957 1,191 127,560 1,201 299,141 1,201 7,573 49
50 Furniture and housefurnishings .......... 542 80,713 543 109,937 543 2,355 1,100 171,759 1,115 308,231 1,115 7,301 50
51 Automotive dealers and filling stations . 597 81,933 594 307,625 614 3,693 990 160,871 1,034 665,985 1,064 7,231 51
52 Drug stores. 181 15,975 181 46,440 181 1,532 584 51,649 600 148,404 600 3,679 52
53 Eating and drinking places .............. "9 28,029 499 85,286 499 489 1,083 66,832 1,214 193,520 1,234 2,243 53
54 Building materials and hardware ......... 271 51,414 281 108,172 281 2,303 760 106,753 -N6 234,170 796 5,383 54
55 Other retail trade ...................... 937 104,041 937 262,955 957 5,686 2,369 303,482 2,400 680,405 2,410 16,901 55
56 Trade not allocable ....................... 855 123,229 865 354,581 875 7,849 1,696 268,150 1,759 778,880 1,759 14,998 56
57 Finance, insurance,2 real estate,and lessors 6,176 2,101,666 1,664 208,965 6,408 44,847 10,718 5,517,333 3,031 327,367 11,170 113,595 57
of real property.
58 Finance ................................... 985 843,088 432 77,574 1 052 13 471 1,982 3,544,298 829
(3) (3) 116,212 2,091 56,288 58
59 Banks and trust c ompan i es ............... (1) (1) ) ( 5) 232 1,580,316 201 5,028 232 10,045 59
60 Credit agencies other than banks ........ 785 448,648 335 14,534 837 5,399 1,371 1,481,819 535 33,660 1,477 16,470 60
61 Holding and other investment companies.. 106 77,390 (1) (3) ill 5,931 295 443,637 35 6,635 298 28,711 61
62 Security and coamodity-exchange brokers 73 46,488 70 62,207 83 1,474 64 38,526 58 70,889 84 1,062 62
and dealers.
63 Insurance carrierS2 and agents ...... 174 21,350 184 19,518 184 671 517 40,981 537 31,373 557 3 , 440 63
64 Insurance carrierS2 ......... : * :::: ...... - - - - - - (3) (3) (3) (3) (3) (3)
64
65 Insurance agents and brokers ............ 174 21,350 184 19,518 184 671 507 38,523 527 29,938 547 2,892 65
66 Real estate,except lessorsof real property 4,920 1,229,122 1,038 111,502 5,075 30,714 8,048 1,912,558 1,635 178,888 8,351 52,996 66
67 Lessors of real property, except buildings 97 8,106 (3) 19
(1) 97 171 19,496 (3) (3) 171 871 67
68 Services .................................... 2,006 220,500 1,891 269,468 2,086 4,335 4,285 628,910 4,124 795,675 4,481 44,433 68
69 Hotels and other lodging places ........... 252 63.030 192 40,750 252 1,076 430 153,835 389 99,343 450 5,531 69
71 Business services ......................... 494 28,552 414 43,676 494 1,094 1,194 114,347 1,070 204,257 1,245 11,301 71
72 Automotive repair services and garages .... 182 12,085 182 12,355 202 496 334 42,473 289 36,439 354 2,319 72
73 Miscellaneous repair services, hand trades 131 12,693 131 30,800 141 '577 288 15,775 308 34,966 308 448 73
74 Motion pictures ........................... 205 35,960 195 41,511 210 '217 339 123,447 339 160,898 359 10,563 74
76 Other services, including schools ......... 185 9,386 195 14,708 205 152 517 61,315 516 85,895 552 4,314 76
77 Nature of buu~i ness not allocable ............ , 233 5,944 , ill 1 1,810 1 273 1 411 1 534 1 17,336 1 178 1 9,288 1 640 1 1,139 177
'Deficit.
'For treatment of life and mutual insurance companies, see text, p. 17.
3sampling variability of this itm was too large to warrant showing it separately. However, this value was included in each total.
Table 15.-NET INCOME OR DEFICIT AND TAXES, BY CALENDAR AND NONCALENDAR YEAR ACCOUNTING PERIOD, BY SIZE OF NET INCOME OR DEFICIT
Returns without
net income
Income tax Excess profits tax'
Accounting period and size of net income or deficit -
Net income
Number of Amount Amount Number of Def'c' t
Number of Number of
returns (n-wd (77-.-d (Th...-d returns (Th...-d
returns returns
d,li,r,) d.11 ... d.1 I -.) d.11 ...
(2) (3) (4) (5) (6) (7) (8)
Grand total ..................................................................... 441,177 39,572,830 391,522 216,823,241 3,724 37,711 281,628 3,244,395
Annual 1no.c.lendar year accounting periods:

Tots ............................................................................... 182,793 8,366,298 159,355 1 3,628,931 3,536 1 37,379 110,210 1,197,479
Under $1,000 ...................................................................... 38,675 15,374 29,508 3,044 - - 42,282 12,683
$1,000 under $2,000............................................................... 18,343 26,639 14,807 6,122 - - 1.2,756 18,534
$2,000 under $3,000............................................................... 13,082 32,286 10,867 7,793 - - 8,436 20,692
$3,000 under $4,000 ............................................................... 9,680 33,679 8,178 7,999 - - 6,438 22,390
$4,000 under $5,000 ............................................................... 8,021 35,894 6,985 8,565 - - 4,791 21,454
$5,000 under $10,000 .............................................................. 25,321 182,842 22,663 47,229 - - 13,980 99,671
$10,000 under $15,000 ............................................................. 15,612 193,025 14,465 51,454 - - 6,595 80,637
$15,000 under $20,000 ............................................................. 11,699 204,017 11,133 56,697 11 3 3,711 64,295
$20,000 under $25,000 ............................................................. 11,410 257,886 11,020 72,829 218 44 2,306 51,406
$25,000 -der $50,000............................................................. 14,877 508,334 14,230 162,661 1,493 992 4,995 172,456
$50,000 under $100,000............................................................ 7,136 500,702 6,832 196,750 703 1,360 2,428 167,132
$100,000 under $250,000 ........................................................... 5,125 786,002 4,957 342,092 529 2,329 1,071 162,143
$250,000 =der $500,000 ........................................................... 1,880 654,306 1,835 300,657 247 2,271 278 92,627
$500,000 under $1,000,000 ......................................................... 948 654,581 929 310,203 134 2,460 93 65,150
$1,000,000 under $5,000,000 ....................................................... 827 1,716,606 795 808,DD4 164 8,672 44 79,540
$5,000,000 or more ................................................................ 157 2,564,125 151 1,246,832 37 19,248 6 66,669
Calendar and part year accounting periods:

Total ............................................................................... 258,384 31,206,532 232,167 1 13,194,310 188 1 332 171,418 1 2,04,6,916
Under $1,000 ...................................................................... 59,457 23,326 48,063 5,105 - - 75,740 21,098
$1,000 -der $2,000............................................................... 27,304 39,268 22,979 9,793 - - 21,042 30,614
$2,000 under $3,000............................................................... 18,001 44,468 15,666 11,253 - - 13, 04,7 32,167
$3,000 under $4,000............................................................... 12,907 44,910 11,433 11,405 - - 9,143 31,754
$4,000 under $5,000............................................................... 10,847 48,543 9,760 12,101 - - 6,836 30,612
$5,000 under $10,000.............................................................. 33,498 241,723 30,773 64,305 1 9 18,668 133,748
$10,000 under $15,000 ............................................................. 20,398 252,023 19,480 69,258 15 1 8,239 101,263
$15,000 under $20,000............................................................. 13,700 238,690 13,200 67,046 1 - 4,581 78,961
$20,000 under $25,000............................................................. 13,010 293,553 12,720 84,074 20 2 2,861 64,162
$25,000 under $~,0,000............................................................. 20,520 710,732 19,949 232,759 87 36 6,049 208,389
$50,000 under $100,000............................................................ 11,741 819,769 11,456 322,479 40 so 2,785 190,540
$100,000 under $250,000........................................................... 8,680 1,354,744 8,491 581,599 14 79 1,407 215,220
$250,000 -der $500,000........................................................... 3,519 1,231,243 3,463 541,639 4 35 469 157,720
$500,000 under $1,000,000 ......................................................... 2,005 1,403,613 1,979 627,511 6 90 171 119,423
$1,000,000 -der $5,000,000 ....................................................... 2,062 4,283,747 2,028 1,888,567 - - 155 302,038
$5,000,000 or more ............................................... . ............... 735 20,176,180 727 8,665,353 - 25 329,207
'The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for
annual accounting periods ended July through November 1954 ~d returns for part years which began In 1953.
2Included in the grand total,but not in the detail, is $63,000 of tax reported on returns with no net income. See "Explanation of Terms," Income tax, p. 25.
Table 16.-TOTAL ASSETS, NET INCOME OR DEFICIT, AND TAXES, BY CALF NDAR AND NONCALENDAR YEAR ACCOUNTING PERIOD, BY SIZE OF TOTAL ASSETS
Returns with and without net income Returns v~ith net income
A-uhting period and size of total assets Income tax Excess profits tax'
Net in...e
Number of Total assets or deficit Number of Total assets Net income Amount Am'.unt
Number of Number of
returns (?h-.-d (77,...-d returns (77...-d (77..-d (T?..-d
returns returns
d.11.,.) d.11...) dbll-~_ dbllars) d.11 ... )
(2) (3) (4) (5) (6) (7) (8) (9) (10)
Grand t.t.1 ............................................ 667,856 805,300,082 36,096,681 419,679 713,530,577 39,137,178 - 16,645,457 - 36,828
Annual nuncalendar year accounting periods:

Total ...................................................... 282,762 120,157,210 7,138,750 179,094 97,683,741 8,302,9271 156,465 3,6G4,7201 3,509 36,733
Under $25,000 ............................................ 69,530 809,096 259,746 29,378 388,568 55,168 21,387 11,232 - -
$25,000 -der $50,000 .................................... 46,450 1,692,986 22,774 27,170 ~99,865 118,364 23,006 30,574 43 27
$50,000 under $100,000 ................................... 51,875 3,738,805 143,189 35,201 2,560,824 259,081 31,278 71,044 249 106
$100,000 under $250,000. ................................. 60,228 9,589,996 406,135 44,922 ?,190,253 609,351 41,267 184,747 1,074 976
$250,000 under $500,000 .................................. 26,869 9,330,199 415,481 20,723 ?,218,507 548,577 19,282 193,504 885 1,619
$500,000 under $1,000,000 ................................ 13,717 9,524,495 492,183 10,664 7,418,072 603,250 9,979 244,567 557 2,050
$1,000,000 under $2,500,000. ............................. 8,561 13,088,772 743,468 6,600 10,093,623 873,131 6,142 390,881 363 3,216
$2,500,000 -der $5,DOO,000 .............................. 2,890 9,967,038 591,419 2,272 7,829,054 661,702 2,109 306,898 146 2,574
$5,000,000 =der $10,000,000 ............................. 1,279 8,790,119 578,433 1,027 7,090,943 628,962 971 300,763 79 2,742
$10,000,000 under $25,000,000 ............................ 862 13,095,296 883,736 700 10,646,428 923,258 646 431,969 74 5,409
$25,000,000 under $50,000,000. ........................... 287 9,990,480 627,409 243 8,431,680 661,319 21? 303, W 19 4,164
$50,000,000 under $100,000,000.. ......................... 119 7,896,390 520,434 108 7,112,623 541,201 102 252,351 10 2,896
$100,000,000 -der $250,000,000 .......................... 6? 9,981,293 595,098 61 9,039,373 602,126 55 279,067 6 4,212
$250,000,000 or more ..................................... 28 12,662,245 1,178,767 25 11,663,928 1,21?,43? 24 603,255 4 6,742
Calendar and part year ac-unting periods:

Total ...................................................... 385,094 685,142,872 28,957,931 240,585 615,846,836 30,834,251 13,040,737 95
Under $25,000 ............................................ 98,074 1,096,289 263,661 39,846 511,944 65,436 14,237 -
$25,000 under $50,0DC. ................................... 58,991 2,149,991 13,540 33,602 1,234,024 115,913 30,056 -
$50,000 under $100,000.. ................................. 65,126 4,691,233 116,513 42,516 3,078,293 258,885 72,444 1
$100,000 -der $250,000 .................................. 74,071 11,789,453 427,634 53,632 8,587,238 671,500 205,402 13
$250,000 under $500,OD(D .................................. 33,487 11,715,616 546,698 26,147 9,157,819 702,536 251,862 14
'9
$500,0W -der $1,000,000 ................................ 19,900 13,966,893 718,93o 15,887 11,187,577 853,320 347,863 1
1 19
1.
$1,000,000 -der $2,500,000 .............................. 16,345 25,729,152 1,157,865 13,203 20,767,882 1,343,255 10 589,095 48
$2,500,000 under $5,000,000 .............................. 7,974 28,154,655 1,127,802 6,667 23,471,615 1,266,738 564,431
$5,000,000 under $10,000,000. ............................ ~2 5
5,045 35,414,811 1,262,422 4,058 28,541,734 1,368,348 622,052
$10,000,000 -der $25,000,000 ............................ 3,366 51,843,159 1,987,437 2,694 41,376,683 2,144,103 963,541 o
Z Z
$25,000,000 -der $50,000,C100 ............................ 1,203 41,413,956 1,699,716 1,001 34,491,389 1,755,004 802,845
$50,000,000 -der $100,000,000 ........................... 675 47,648,073 2,108,794 576 40,923,240 2,235,611 967,776
$100,000,000 under $250,000,000 .......................... 474 72,894,175 3,143,231 416 64,079,600 3,238,630 1,504,474
$250,000,000 or more ..................................... 363 ' 336,633,416 ' 14,709,001 1 350 1 328,437,798 1 14,814,972 1 6,lG4,659 I
1
ITbeexoess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for
annua I accounting periods ended July through November 1954 and returns for part years which began in 1953.
'Deficit.
RETURNS WITH NET INCOME
PERIOD ENDED, BY MAJOR INDUSTRIAL GROUP
Table IT.-TOTAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOMEBY MONTH IN WHICH ACCOUNTING
Returns for calendar, annual noncalendar, and part year Returns for calendar year and part year periods, total
periods, total
Gross receipts from
Gross receipts from Net income
Net income Total assets sales and from
Total assets sales and from
operations
Major industrial group operations
Number Number Number Amount Number Amount
Number Amount Number Amount Amount Amount
of of of
f (7h-...d f S (Tho"
.":_ -d (71~-.d (1h-.d (Th-.-d (Th-.-d
of ) returns d.11 ... )
returns d.11 ... ) return ) returns d ..... returns d.11.;.) returns d.11.,.)
(6) (7) (8) (9) (10) (11) (12)
(1) (2) (3) (4) (5)
462,063,942 441,177 39,572,830 240,585 615,846,836 307,957,049 258,384 31,206,532 1

1 All industrial groups ........................ 419,679 713,530,577
4,741 176,168 1,937 1,103,779 838,280 2,321 101,809

2 Agriculture, forestry, and fishery ........... 4,272 1,940,197 1,751,159
1,807,018 1,696,953 4,428 163 , 836 1 , 767 992 ,033 798 ,202 2 , 126 91 , 926
3 Farms and agricultural services ............ 4,004
100 ,046 30,625 127 9,265
114,731 31 , 642 160 10 , 674 117
4 Forestry ................................... 150
9,453 68 618
5 Fishery .................................... 118 18 , 448 22 , 564 153 1 ,658 53 11 , 700
. 2,537 816,510
6,478,991 4,248 946,048 2,348 6,835,581 5,164,943
6 Mining and quarrying ......................... 4,005 8,159,887
150 230 , 789
1,188,569 215 244,166 149 2,001,470 1 , 129 , 373
7 Metal mining ............................... 213 2,074,321
37 13,666
98,262 57 14,364 37 136,322 77,485
8 Anthracite mining .......................... 57 1 141,808
35,327
442 1,356,972 1,120,985 462 46,940 318 lpl20,657 894,874 332
9 Bituminous coal and lignite mining .........
3,515,934 2,994,501 2,208 514,172 1,085 2,770,188 2,322,361 1,247 "1,732 E
0 Crude petroleum and natural gas production. 2,014
740,850 771 94,996 1:
Nonmetallic mining and quarrying ........... 1,279 1,070,852 1,076,674 1,306 126,406 759 806,944
I
633,538 11,042 4,070,378 8,856,352 11,743 409,300 1;
2 Construction ................................. 20,522 6,706,872 14,441,227 21,411
236,497,536 74,608 19,653,551 39,302 127,333,117 169,077,040 40,645 15,303,295 L
3 Manufacturing ................................ 72)998 164,843,339
233,138 1,
6,604,469 1,717 378,867 1,073 2,016,161 3,455,141 1,113
4 Beverages .................................. 1,676 3,414,916
704,781 1:
30,132,816 6,553 1,301,554 3,420 6,204,325 16,531,767 3,515
5 Food and kindred products .................. 6,436 Ilp391,962
79 319,096 li
3,617,689 110 321,699 77 2,822,812 3,550,095
16 Tobacco manufactures ....................... 108 2,854,453
1,497 274,739 1
9,145,564 3,193 479,034 1,456 3,426,269 4,602,774
7 Textile-mill products ...................... 3,147 6,641,201
97,854 1
7,037,233 7,600 216,217 3,051 1,195,958 2,995,328 3,169
18 Apparel and products made from fabrics ..... 7,437 2,671,583
4,558,905 3,617 364,341 1,842 2,237,512 2,664,472 1,959 245,800 1
9 Lumber and wood products, except furniture. 3,470 3,362,122
1,329 95,639 2
2,8",539 2,617 184,576 1,308 742,561 1,402ill5
0 Furniture and fixtures ..................... 2,593 1,431,749
681,749 2
8,000,697 2,004 916,440 1,170 4,916,922 5,820,893 1,200
?l Paper and allied products .................. 1,969 6,763,075
473,074 2
9,146 4,905,996 7,453,649 9,454 630,330 5,583 3,652,489 5,416,210 5,838
?2 Printing , publishing, and allied industries 1,820,456 2
4,482 15,701,835 17,583,562 4,588 2,289,153 2,512 12,018,868 12,143,888 2,609
23 Chemicals and allied products ..............
28,122,760 26,719,227 432 1,662,847 287 27,512,699 25,709,943 291 1,612,486 2
24 Patrols= and coal products ................ 426
2,806,720 4,395,471 544 311,606 264 1,854,942 2,882,950 279 212,"5 2
25 Rubber products ............................ 529
720,837 672 37,394 2
2,612p869 1,621 129,672 641 327,094
26 Leather and products ....................... 1,589 1,262,809
1,711 706,454 2
6,219,273 2,844 818,585 1,654 4,415,943 5,072,632
?7 Stone , ulay, and glass products ............. 2,783 5,193,681
1,428,424 2
18,275,377 2,139 1,618,472 1,196 14,484,772 16,089,488 1,230
28 Primary metal industries ................... 2,085 16,080,551
688,601 2
7,497 970,118 4,207 5,199,130 8,493,438 4,283
29 Fabricated metal products, except ord- 7,393 7,303,526 12,327,011
nance, machinery, and transportation
equipment.
14,406,674 19,28lp472 7,025 1,882,667 3,975 8,996,819 11,946,695 4,122 1,284,350 30
30 Machinery, except transportation equipment 6,861
and electrical.
8,802,072 13p4ll,065 2,439 1,199,092 1,152 7,577,575 10,941,393 1,188 1,009,144 3
31 Electrical machinery and equipment ......... 2,391
10,791,152 677 845,849 354 4,017,100 7,109,557 378 533,270 3
32 Transportation equipment, except motor 653 5,870,679
vehicles. 3
16,528,690 688 2,321,402 396 9,938,381 15,629,626 399 2,248,937
33 Motor vehicles and equipment, except elec- 6a4 10,417,103
trical. 1
45 47,161 30 129,932 286,978 31 36,521 3
34 Ordnance and accessories ................... 44 191,391 449,401
2,530,129 3p591,853 1,205 433,872 768 2,131,828 2,959,518 783 379,498 3
35 Scientific instruments; photographic 1,190
equipment; watches, clocks.
2,716,352 'o 4,915,552 5,999 329,997 2,886 1,513,025 2,651,302 2,970 179,245 3
36 Other manufacturing ........................ 5,906
1
0 36,016,746 17,436 4,709,853 11'..i16 85,309,296 34,219,194 12,518 4,522,851
37 Public utilities ............................. 16p3O4 8 7,464,017
12,001 30,850,980 1
0 16,365,854 12,590 1,233,657 7,814 29,820,898 15,082,826 8,314 1,12 3 , 463 3
38 Transportation ............................. 1,318,669
2,333 1 6 300 162 8,303,993 2,713 1,340,164 2,006 16,169,001 8,192,677 2,365
39 Communication ..............................
11,111,600 948 2,087,228 900 38,119,053 10,741,383 850 2,035,095 4
40 Electric and gas utilities ................. 888 39:061:163
,
4
0 1,185 48p804 896 1,200,344 202,308 989 45,624
41 Other public utilities ..................... 1,082 1 251,712 z 235,299 z
137~374 49,895~857 145,891,876 143,432 4,356,658 71p221 25,294,256 74,454,064 76,199 2,173,474 4
42 Trade ........................................
49P438 22,855,373 70,950,647 50,788 1,793,448 24,854 12,9",359 37,905,106 25,900 1,061,125 4
43 Wholesale ..................................
6,352 l,"5,639 3,370,715 6,617 118,142 3,257 779,975 1,815,215 3p460 67,238
Commission merchants .....................
43,086 21,409,734 67,579,932 ",171 .1,675,306 21,597 12,164,384 36,089,891 22,440 993,887
45 Other wholesalers ........................
75,893 24,154,871 67,493,352 80,003 2,329,795 40,351 10,666,198 32,510,552 43,777 972,161
46 Retail .....................................
3,473,341 18,940,222 6,287 425,858 3,043 1,764,269 8,648,273 3,399 200,025
47 Food ..................................... 5,871
15,969,913 4,833 975,099 2,193 2,206,565 4,311,075 2,352 262,332
48 General merchandise ...................... 4,635 8,600,154
10,771 2,0%,230 4,452,466 11,133 159,420 4,025 627,750 1,258,155 4,331 48,598
49 Apparel and accessories ..................
7,233 1 484,540 2,361,825 7,495 89,839 3,351 709,766 1,060,450 3,571 41,317
50 Furniture and housefurnishings ...........
13,820,994 13,149 249,408 8,956 2,432,871 10,906,324 9,275 194,588
51 Automotive dealers and filling stations.. 12,783 3:185,975
513,446 1,478,225 3,975 48,360 1,997 231,568 674,383 2,262 21,103
52 Drug stores .............................. 3,673
1,764,416 7,732 70,229 3,453 335,348 998,942 4,446 38,099
53 Eating and drinking places ............... 6,522 595,588
10,433 155,171 6,458 1,362,312 2,558,994 6,668 98,321
54 Building materials and hardware .......... 10,184 2,100,724 4,097,644
14,221 2,104,873 4,607,647 14,966 156,411 6,875 995,749 2,093,956 7,473 67,778
55 Other retail trade .......................
233,415 6,016 1,683,699 4,038,406 6,522 140,188
56 Trade not allocable ........................ 12,043 2,885,613 7,447,877 12,641
8,293,140 84,578 361,287,380 9,680,127 92,030 7,398,133
57 Finance, insuramce.1 real estate, and lessors 129,856 386,430,185 11,222,698 138,764
of real property.
2,398,274 34,208 3,708,202 24,923 242,927,570 1,866,178 26,204 3,255,173
58 Finaa.e .................................... 32,628- 259,488,772
2,051,778
Banks and trust companies ................ 13,579 225,159,941 895,435 13,792 2,090,115 13,067 217,070,994 855,229 13,274
59 435,706
1,171,578 14,155 565,704 7,820 16,318,029 927,192 8,510
60 Credit agencies other than banks ......... 13,246 20,688,493
59,583 5,088 985,932 3,293 8,284,198 39,271 3,656 717,159
61 Holding and other investment companies ... 4,661 11,752,558
1
271,678 1,173 66,451 743 1,254,349 44,486 764 50,530
62 Security and commodity-exchange brokers 1,142 1,887,780
and dealers.
9,572 3,486,380 6,569 105,327,825 6,989,507 7,439 3,464,663
63 Insurance carriers' and agents ............. 8,620 105,555,951 7,163,923
6,508,039 2,638 3,404,070 2,025 104,539,328 6,500,195 2,580 3,402,107
64 Insurance carriers' ...................... 2,081 104,554,251
655,884 6,934 82,310 4,544 788,497 489,312 4,859 62,556
65 Insurance agents and brokers ............. 6,539 1,001,700
91,706 981,769 50,880 10,826,558 812,141 55,760 570,708
66 Real estate, except lessors of real prop- 85,801 19,073,812 1,643,539
erty other than buildings.
116,789 2,206 2,205,427 12,301 2,627 107,589
67 Lessors of real property, except buildings. 2,807 2,311,650 16,962 3,278
32,779 7,935,851 9,690,054 34,682 788,143 17,688 4,520,136 5,617,406 19,213 472,238
68 Services .....................................
69 Hotels and other lodging places ............ 3,362 1,700,289 1,249,616 3,620 106,269 1,777 9",645 734,449 1,968 64,036
822,044 1,436,177 7,122 81,410 3,858 483,9% 815,588 4,090 45,830
70 Personal services .......................... 6,864
8,948 1,899,982 3,102,159 9,434 232,734 4,740 1,378,051 2,057,803 5,090 170,339
71 Business services ..........................
447,207 "0,133 3,433 34,199 1,806 265,612 265,868 2,042 19,154
72 Automotive repair services and garages ..... 3,167
Miscellaneous repair services, hand trades. 1,608 122,562 279,670 1,704 1.3,605 924 72,224 157,230 1,010 8,518
73
1,751,969 3,183 166,736 1,655 881,461 806,810 1,744 81,616
74 Motion pictures ............................ 3,078 1,992,088
Amusement, except motion pictures .......... 2,640 546,041 652,749 2,934 86,175 1,196 233,196 276,952 1,414 37,098
75
Other services, including schcols .......... 3,112 405,638 777,581 3,252 67,015 1,732 260,951 502,706 1,855 45,647
76
77, Nature of business not allocable ............. 1 1,569 1 154,372 73)655 1 1,855 , 15,731 , 953 92,913 49,643 , 1,178 ~ 8,922,.
1 1 1
See footnotes at end of table. See text for explanatory statements and for -Tescription of the Sample and Limitations of Data."
TaIde 17.-TOTAL ABUTS, GROW R&CZIPrS FROM SALESAKV FROM OPERATMW AND NET INC0hKBY MONTH IN WHICHACCOUNTING
PERIOD ENDED, BY MAJOR INDUSTRIAL
Returns for annual noncalendar year periods, total Returns with annual accounting period ended-
Gross receipts from July 1954
Total assets sales and from Net
operations income Gross receipts from
Total assets sales and from Net income
Number Amount Number Amount cps tions
Number Amount
of of of Number Amount -Number Amount Number Amount
returns (n--d returns (Mma-d returns (7hwamd of (7b--d Of of
(7h .. d (Tb-.-d
d.11... d.JI ... d.11 ... returns d.11... ) returns bil ... ) returns d.11...
(13) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23) (24)
I All industrial groups ......................... 179,094 97,683,741 147,488 154,106,993 182,793 8,366,298 12,241 5,826,520 10,059 10,479,630 12,502 540,158 1
2 Agrieulture~ forestryp and fishery ............ 2,335 936,418 2,388 912,M 2,420 74,359 221 56,995 221 68,989 222
3 Farms and agricultural services ............. 4,272
2 237 814,985 2 302 898,751 2 302 71,910 220 56,449 221 68,989
4 Forestry .................................... 1 221 4p175
5 Fishery ..................................... (1) (1) (1) (1) ( 1) 1 546 - - 1 97
65 6,748 75 13,111 85 lpO4O - - - - - -
6 Mining and quarrying ..........................
1,657 1,324,306 1,686 1,314,048 1,711 129,538 169 101p439 179
7 Metal mining ...... .......................... 74,784 179 5,349
64 72,851 65 59,196 65 13,377 1 lp720
8 Anthracite mining ......... .................. 1 1,956 1 58
20 5,486 20 20,777 20 698 1 174
9 Bituminous coal and lignite mining .......... 1 586 1 66
124 236,315 130 226 ,111 3-30 11 , 613 10
10 Crude petroleum and natural gas production.. 22 , 396 10 19,447 10 1,036
929 745,746 936 672,140 961 72 , 440 102 70 ,456 112 43 ,283
3.1 Nonmetallic mining and quarrying ............ 112 3,678 li
520 263,908 535 335,824 535 31 , 410 55 6 ,693 55 9 , 512 55 511 1
12 Construction ..................................
9,480 2p636,494 9,592 5,584,875 9,668 224,238 435 105,687 436 222,573 436 7,340 1,
13 Manufacturing ................................. 33,6% 37,510,222 33,815 67r42Op4% 33,%3 4,350,256 2,287 2,406,652 2,295
U Beverages .......... . . ....................... 5,274,695 2,305 323,888 1.
603 1,398,755 604 3,149,328 604 145,729 38 453,485
15 Food ard kindred products ..... .............. 39 1,544,780 39 58,906 1,
3,016 5,187,637 3,038 l3p601,049 3,038 5%,773 166 353,125
16 Tobacco manufactures ........................ 166 710,815 166 61,430 1:
31 31,641 31 67,594 31 2,603 1
17 Textile-mill products ....................... 3,559 1 3o217 1 376 li
1 691 3p214,932 1,696 4,542,790 lp696 204 p 295
18 Apparel and products made from fabrics ...... 123 91 , 904 123 169 , 170 123 9,094 1'
4:386 lp475,625 4,411 4,041,905 4,431 118,363 315 101,934 315 290,767 315 9,582 11
9 Lumber and wood products, except furniture ..
1,628 1,124,610 1,638 1,894,433 1,658 118,541 116 ",644 126
20 Furniture and fixtures ...................... 81,266 126 4,625 11
1,285 689,188 lp288 1,442,424 1,288 88,937 57 17,967
1 Paper and allied products ................... 57 47,242 57 lp464 2(
799 1 , 846, 153 804 2 p l79, 804 804 234,691 38 36pO9O
2 Printing, publishing~ and allied industries. 38 49,622 38 4,209 2:
3,563 1,253,507 3,558 2,037,439 3,616 157p256 319 69, 988
3 Ch emicals and allied products ............... 310 123, 871 320 11 , 913 2;
1,970 3,682o%7 1,%9 5,439,674 1,979 468,697 152 116,126
4 Patrols= and coal products ................. 152 223,1" 152 15,080 2:
139 610,061 141 1,009,284 141 50,361 6 4,061 6 15,699 6 300 2,
5 Rubber products ............................. 265 951,778 265 1,53.2,521 265 99,161 16 9,048 16 20,214 16
6 Leather and products ........................ 948 2,060 2!
935,715 949 1,892oO32 949 92,278 42 29,882 42 57,440 42 2,885 2t
7 Stone, clayjand glass products .............. 1,129 777,738 1,133 1 ,1" ,641 1 , 133 112 ,131 76 16 , 559 76 27,734 76
8 Primary metal industries .................... 1,838 2'
889 1,595,779 909 2,185,889 909 190,048 50 66,241 50 129 , 5" 50
9 Fabri cated metal products, except ord- 31186 10,488 21
2,104,3% 3,214 3,833,573 3 ,214 281 , 317 201 291 , 543 201 569 , 843 201
nance, machinery, and transportation 29,941 2~
equipment.
30 Machinery. except transportation equipment 2,886 5,409,855 2,883 7,334,777 2,903 598,317 206 229 , 598 206 359 , 487 206 34 , 324
and electrical. 3(
1 Electrical machinery and equipment .......... 1,239 1,224,497 1,241 2,"9,672 1,251 189,948 83 118,201 94 222 , 774 84 19 , 169 31
2 Transportation equipment, except motor 299 1,853,579 299 3,681,595 299 312 , 579 25 169 , 830 25 292 , 701 25 19,410 3.
vehicles.
3 Motor vehicles and equipment~ except elec- 288 478,722 299 899,064 289 72 p "5 9 38 , 187 9 72 ,666 9 6,410 3~
trical.
34 Ordnance and accessories .................... 14 61,459 14 162,423 14 lOo64O 2 34,176 2 65,199 2 5,464
5 Scientific instruments; photogra phic 422 3~
398r301 422 632p335 422 54,374 31 41,719 31 73,985 31
equipment; watches, clocks. 8,080 3!
36 Other manufacturing ......................... 3,020 1,203p327 3,019 2,264,250 3,029 150,752 215 66,785 220 123p513 220 6,840 3~
7 Public utilities .............................. 4,788 2,154,721 4,867 1,797,552 4o918 197,002 270 140,309 270 137,406 270 17,401 3-,
8 Transportation .............................. 4,187 1,030,082 4p225 1,283,028 4,276 110,194 239 84,226 239 101,488 239 8,925 3E
9 Communication ............................... 327 131,161 348 111,316 348 21,495 23 15,297 23 18,627 23 5,197 3S
Electric and gas utilities .................. Be 942 ,110 98 370, 217 98 52 , 133 1 33,149 1 14,745 1 2 527 4C
I Other public tilitie....................... 186 51,368 196 32,991 1% 3,180 (2) (1) (1) (2) (2)
(1 ) 41
a Trade ......................................... 66,153 24,601,601 67,031 71,437,812 67,233 2,193,184 4,938 1,696,015 5,017 4,432,044 5,037 128,465 42
~3 Wholesale ................................... 24~584 9,911,014 24,797 33,045p541 24,888 732,323 1,547 773,537 lp558 2,243,287 1,558 58,947 43
4 Commission merchants .................. I ... 3,095 665,664 3,137 1,555,500 3,157 50,904 199 42,109 200 94,761
45 Other wholesalers ......................... 21,489 9,245,350 21,660
200 4,373 44
31,490,041 21,731 681,419 1,348 731,428 1,358 2,148,526 1,358 54,574 41
6 Retail ...................................... 35,542 13,488,673 36,125 34,982,800 36,226 1,357,634 3,018 873p802 3,091 2,040,275 3,101 65,399 46
7 Food ...................................... 2,828 1,709,072 2,878 10,291,949 2,888 225,833 137 29,177 154 139,284 154 3,885 47
8 General merchandise ....................... 2,"2 6,393,589 2,471 11,658,838 2,481 712,767 179 3%,782 179 831,224 179 27,303
9 Apparel and accessories ................... 6,746 1,468,480 48
6,801 3,194,311 6,802 110,822 lpl88 215,091 1,198 515p802 IP198 16,439 49
Furniture and housefurnishings ............ 3,882 774 , 774 3 , 904 1 , 301 , 375 3 , 924 48 , 522 323 54 , 978 333 92,658 333 3,392 50
L Automotive dealers and filling stations ... 3,827 753,104 3,834 2,914,670 3,874 54,820 231 36,083 231 152,689 231 1 ,930 51
2 Drug stoma ............................... 1,676 281,878 1,713 803p842 1,713 27,257 83 8,832 89 24,423 89 426
3 Eating and drinking places ................ 3,069 260,240 52
3,286 765,474 3,286 32,130 247 35,553 252 92,745 252 5 , 091 53
4 Build ing materials and hardware ........... 3,726 738,412 3,765 lp538,650 3,765 56,850 140 26,138 145 50,647 145 1 , 865 54
5 Other retail trade ........................ 7,346 1,109,124 7,473 2,513,691 7,493 88,633 490 71,168 510 140p803 520 5,058 55
5 Trade not allocable ......................... 6,027 1,201,914 6,109 3,409,471 6,119 93,227 373 48p676 368 148,482 378 4,129 56
7 Finance, insurance,' real estate, and lessors 45,278 25,142,805 12,831 1,542,571 46,734 895,007 3pO28 1,184,322 747 83 , 373 3, 138 39, 558 57
of real property.
8 Finance ..................................... 7,705 16,561,202 3,277 532,096 8,004 453,029 373 651,568 138
59 Banks and trust companies ................. 512 8,088,947
35,627 403 10,795 M
453 40,206 518 38,337 2 "8,704
6J Credit agencies other than banks .......... 5,426 4,370,464
2 88 2 123 59
2,388 2",386 5 , 645 129 ,998 282 91 , 812
61 Holding and other investment companies .... 1,368
123 8 , 956 302 3,411 6C
3,468,360 144 20,312 1,432 268,?73 74 89 , 309
62 Security and commodity-exchange brokers 399
1 7 , 012 84 6 ,205 61
633,431 292 227,192 409 15 , 921 15 21 , 743 12 19 , 571 15
and dealers. 1,056 62
3 Insurance carriers' and agents .............. 2,051 228,126 2,100 174,416 2,133 21,717 150 18,780 150 10,490 M
4 Insurance carriers' ....................... (2) 1 723 63
56 14,923 55 7,844 58 1,%3 (1) 2 (2) (2)
5 Insurance agents and brokers .............. ) (~) 64
1,995 213,203 2pO45 166,572 2,075 19,754 138 15,057 138 9,017 138 1,505 65
5 Real estate, except lessors of real prop-
34,921 8,247,254 7,383 931,398 35,946 411,061 2,459 501,292 458 36,721
erty other than buildings. 2,529 25,519 66
7 Lessors of real property, except buildings.. 601 106,223 71 4,661 651 9,200 46 12,682 1 535 56 1,521 67
1 Services ...................................... 15,091 3,415,715 14,764 4,072,648 15,"9 315p9O5 863 133,016 874
Hotels and other lodging places ............. 185,335 885 13,592 68
1 , 585 755 , 644 1 ,439 515 , 167 1 ,652 42,233 114 46,2% 124
Personal services ........................... 36,815 124 3,979 69
3pOO6 338,048 3,022 620,589 3pO32 35,580 128 16, 807 128 30 , 849
L Business services ........................... 128 1 , 439 70
4,208 521,931 4,020 1,044,356 4,3" 62,395 222 20,022 212
Automotive repair services and garages ...... 44,057 223 2,253 71
1,361 181,595 1,259 174,265 1,391 15,045 110 11,997 110 13,576 110 836 72
Miscellaneous repair services, hand trades.. 684 (2)
50,338 694 122,440 694 5,087 (1) (1)
Mot ion pictures ............................. 1,423 (1) (1) (1) 73
1,110p627 lp439 945,159 1,439 85,120 100 18,092 100 18,389 100
i Amusement p except motion pictures ........... l , "4 1,963 74
312,945 1,520 375,797 lp520 49,077 99 11,406 99 17,193
i Other services, including schools ........... 1,380 99 1,381 75
144 , 697 1 , 371 274 ,875 1 , 397 21 ,368 78 5,633 89 18,535 89 1,533 76
Nature of business not allocable .............. 6161 61,4591 514 24,0121 (2) (2) (2) ( 2)
1 1 1 6771 6 , 809 (1) . (2) . 77
a footnotes at end of table. See text for explanatory statements and for "Description of the
Sample and Limitations of Date.,,

Table 17.-TOTAL ASSETS, GROSS RECEIPTS. FROM SALES AND FROM OPE"TIONS, AND NET INCOMEBY MONTH IN WHICH ACCOUNTING PERIOD ENDED, BY MAJOR INDUSTRIAL GROUP-ContinuGd
Returns with annual accounting period ended-COntinued
August 1954 September 1954

sales and from Net income Total assets sales and from Net income
Major industrial group Total assets
Amount Number
of Number Amount Number Amount Number Amount
Number Amount Number
of Amount
(7h.-d of (7ho-d of (Th... d of (Th-.-d
(Th.-d (7h...-d
returns
of d.11 ...) returns d.11 ...) returns d,11-) returns d,_11-)_ returns d.11... ) returns d.1I ...
(25) (26) (27) (28) (29) (30) (31) (32) (33) (34) (35) (36)
10,407,619 12,960 527,896 19,002 11,069,005 15,391 15,369,472 19,289 951,399 1

1 All industrial groups ......................... 12,615 6,600,527 10,368
42,769 190 55,948 190 4,141 2

2 Agriculture, forestry, and fishery ............ 184 54,309 184 56,304 184 4,070 170
3 Farms and agricultural services ............. 183 52,511 183 53,526 183 4,000 160 41,242 180 53,138 180 3,952 3
- - - - - - - - - - - - 4
4 Forestry .................................... (2) (2) (2)
Fishery ..................................... 1 1,798 1 2,778 1 70 (2) (1) (1) 5
5
6 Mining and quarrying .......................... 81 147,349 82 109,388 82 22,7
, 80 87,367 64 81,950 164 5,801 6
(2164 2) (2 1) (2) (2) 7
7 Metal mining. , ............................. 1 4,981 1 9,133 1 2 171 ) (1)
8 Anthracite mining ........................... 3 048 3 4,776 3 64 1 637 1 4 695 1 76 8
Bituminous coal and lignite mining .......... (2) (2) 1' (2) (2 (2) (2) 6 36,441
1' 6 28:517 6 733 9
9 )
Crude petroleum and natural gas production.. 44 135,476 45 85,932 45 20,144 104 35,165 104 33,995 104 3,249 10
0
1 Nonmetallic mining and quarrying ............ 27 4,447 27 7,019 27 306 48 13,896 48 13,98? 48 1,724 11
2 Construction .................................. 340 73,450 350 160,701 350 7,198 1,004 285,182 1,026 608,418 1,026 24,898 12
3 Manufacturing ................................. 2,334 2,675,844 2,367 4,956,115 2,367 298,357 3,787 5,144,373 3,794 8,891,594 3,814 607,423 13
4 Beverages ................................... 36 382,691 36 580,057 36 20,519 80 146,747 so 270,481 80 14,974 14
5 Food and kindred products ................... 161 333,054 161 801,482 161 34,625 376 682,913 386 1,731,601 386 82,117 1,~
(2 (2) (2) (2) (2) (2) IE
6 Tobacco manufactures ........................ 2 7,139 2 17,115 2 623 )
7 Textile-mill products ....................... 115 332,182 115 499,182 115 26,868 180 751,270 180 936,800 180 44,185 l-,
8 Apparel and products made from fabrics ...... 308 70,813 308 210,468 308 6,318 399 73,661 389 228,317 409 6,346 16
Lumber and wood products, except furniture.. 64 45,728 64 81,192 64 3,618 169 63,450 169 122,231 169 4,925 1S
L9
Furniture and fixtures ...................... 64 20,111 65 48,048 65 2,173 97 39,134 98 105,109 98 4,701 2C
~O
117 150,733 118 211,010 118 15,351 21
?I Paper and allied products ................... 46 143,461 46 163,701 46 16,987
?2 Printing, publishing, and allied industries. 304 62,532 325 115,642. 325 7,713 445 255,045 445 364,170 445 25,775 2~
?3 Chemicals and allied products ............... 155 389,164 155 733,443 155 45,103 216 281,373 217 472,506 217 35,529 21
?4 Petroleum and coal products ................. 14 24,390 14 78,056 14 4,049 9 165,366 9 242,539 9 11,554 24
Rubber products ............................. 26 13,593 26 29,623 26 1,943 31 82,094 31 132,786 31 10,168 2f

?5
Leather and products ........................ 78 28,460 78 68,352 78 2,664 78 30,103 78 88,299 78 1,947 2~
?6
Stone, clayand glass products .............. 53 19,591 53 36,354 53 2,666 104 98,577 106 152,781 106 11,801 2-,
?7
Primary metal industries .................... 69 101,736 69 164,560 69 15,446 114 184,131 114 273,986 114 22,732 2E
?8
Fabricated metal products, except ord- 202 148,392 212 256,190 212 16,581 375 238,078 375 474,803 375 31,852 2~
?9
equipment.
~O Machinery, except transportation equipment 244 204,449 244 405,056 244 32,667 383 636,065 384 855,409 384 91,006 X
and electrical.
31 Electrical machinery and equipment .......... 95 40,049 95 93,661 95 7,117 153 158,786 153 322,042 153 22,555 31
32 Transportation equipment, except motor 42 31,349 42 66,643 42 5,434 45 885,934 45 1,484,388 45 139,944 %
vehicles.
328,550 17 35,211 25 59,890 25 111,673 25 7,677 3:
33 Motor vehicles and equipment, except elec- 16 187,080 17
trical.
34 Ordnance and accessories .................... 1 5,115 1 10,776 1 1,347 1 71 1 520 1 8 3,
35 Scientific instruments; photographic 21 13,318 21 20,981 21 1,304 38 30,773 38 55,361 38 5,437 3!
36 Other manufacturing ......................... 218 71,447 218 146,983 218 7,381 339 126,855 340 249,152 340 16,592 3(
37 Public utilities .............................. 347 359,788 353 140,995 353 17,547 494 273,406 508 252,519 509 20,789 3'
38 Transportation .............................. 312 32,815 317 49,340 317 2,287 418 60,419 432 135,266 433 5,578 N
39 Communication ............................... 13 3,682 14 6,548 14 729 56 14,240 56 11,378 56 1,325 Y
40 Electric and gas utilities.. ................ 7 317,307 7 83,416 7 14 428 16 194 635 16 98 786 16 13,502 9
2) (2) 2) (2) (2 4 31912 4 7 , 089 4 384 4:
11 Other public utilities ...................... (1) ;
42 Trade ......................................... 4,582 1,409,257 4,655 4,223,249 4,665 81,469 6,193 1,463,966 6,252 4,739,194 6,262 106,777 4;
43 Wholesale ................................... 1,672 983,878 1,704 2,938,528 1,704 45,923 2,412 809,427 2,431 2,803,715 2,431 53,009 4:
Commission merchants ...................... 200 45,107 210 131,468 210 2,950 290 112,608 290 394,102 290 4,421 4,
Other wholesalers ......................... 1,472 938,771 1,494 2,807,060 1,494 42,973 2,122 696,819 2,141 2,409,613 2,141 48,588 4~
45
46 Retail ...................................... 2,531 371,220 2,562 1,125,990 2,572 32,115 3,218 557,363 3,248 1,634,708 3,258 46,921 41
47 Food ...................................... 212 47,708 222 271,372 222 6,583 351 81,582 353 397,937 353 10,078 41
General merchandise ....................... 147 16,793 147 52,435 147 1,844 80 12,224 85 27,342 85 1,057 4
48
104,398 503 3,138 293 23,882 293 57,985 293 1,168 4~
49 Apparel and accessories.. ................. 498 45,957 503
332 3,204 394 44,973 384 89,183 394 3,102 50
50 Furniture and housefurnishings ............ 332 56,137 322 108,687
51 Automotive dealers and filling stations ... 213 53,576 214 192,487 214 4,303 464 90,574 466 332,810 466 5,902 5:
52 Drug stores ............................... 102 22,277 102 87,312 102 2,108 236 106,210 241 268,881 241 10,050 5~
53 Eating and drinking places ................ 261 25,976 276 68,731 276 3,214 333 43,531 344 114,292 344 5,267 5.
54 Building materials and hardware ........... 215 37,663 215 79,259 215 2,531 265 56,872 275 121,161 275 4,105 5.
55 Other retail trade ........................ 551 65,133 561 161,309 561 5,190 802 97,515 807 225,117 807 6,192 5
56 Trade not allocable ......................... 379 54,159 389 158,731 389 3,431 563 97,196 573 300,771 573 6,847 5
57 Finance, insuranoe,1 real estate, and lessors 3,450 1,085,557 1,043 91,803 3,615 43,842 5,148 3,284,345 1,422 191,690 5,259 139,302 5
of real property.
58 Finance ...... 622 395,205 273 18,502 652 17 978 1 017 2,260,778 462 78,624 1 083 99,202 5
(2) 2) (2 2) (2 ) (2 (2) (2) (2)
59 Banks and trust companies ................. ) ( ) (1) ) 5
60 Credit agencies other than banks .......... 434 167,240 233 16,101 454 5,178 828 1,007,761 404 64,912 868 36,396 &
(2) (2)
61 Holding and other investment companies .... 133 144 732 3 681 143 11,616 131 796,151 156 48,188 6
62 Security and commodity-exchange brokers 34 12:344 (2) (2) 34 589 45 156,756 28 12,912 45 2,917 6
and dealers.
63 Insurance carriers' and agents .............. 164 18,025 164 14,493 164 1,367 257 28,885 257 20,311 257 2,459 6
(2 2) (2 (2)
64 Insurance carriers' ........... - - - - - - ) ( 2) (2 ) ( ) 6
65 Insurance agents and brokers..:::::: - ... 164 18,025 164 14,493 164 1,367 247 28,792 247 20,183 247 2,450 6
66 Real estate, except lessors of real prop- 2,601 644,413 605 58o552 2,736 24,077 3,836 990,570 693 92,211 3,881 46,704 6
(2) (2) (2) (2) (2) (2) 6
67 Lessors of real property, except buildings.. 63 27,914 1 256 63 420
68 Services ...................................... 1,257 789,436 1,304 668,979 1,304 52,181 2,011 486,320 2,014 546,901 2,034 41,973 6
69 Hotels and other lodging places ............. 87 49o588 87 43,560 87 2,278 269 102,355 270 89,315 270 6,060 6
70 Personal services ........................... 287 51,176 287 98,378 287 7,975 402 44,490 403 85,608 403 4,785 7
71 Business services ........................... 276 43,401 318 103,435 318 6,407 480 55,984 466 137,071 486 9,239 7
72 Automotive repair services and garages ...... 95 18.2,39 18,198 100 1,640 199 22,316 209 29,258 209 1,710 7
73 Miscellaneous repair services, hand trades.. 68 3, 84 68 10,583 68 283 79 8,301 79 19,323 79 1,119 7
74 Motion pictures ............................. 161 586,210 161 335,187 161 29,122 195 177,162 200 112,853 200 11,586 7
75 Amusement, except motion pictures ........... 98 20,537 98 31,846 98 2,828 219 58,465 219 42,841 219 5,814 7
76 Other services, including schools ........... 185 16,602 185 27,792 185 1,648 168 17,247 168 30,632 168 1,660 7
(2) (2) (2) (2) 1 (2) 1 (2) 1 (2) (2) , (2) (2) (2) 7
77, Nature of business not allocable .............. (2)
1 1 1 1 1 1 1
T&W. 17.-T(rrAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOME,BY
MONTH IN WHICH ACCOUNTING PERIM ENDED, BY MAJOR INDUSTRIAL GROUP-Confined
October 1954 November 1954

Major industrial group Total assets sales and from Net income Total assets sales and from Net income
Number
of Amount Number Amount Number Amount Number Amount Number Amount Number Amount
(77-.-d of (7h...-d of (77...-d of (7)-.-d of of
(7h-d (??--d
returns d.11... returns &11 ... returns &11... re t urns d.11 ... ) re turns &11-) returns d.11...
(37) (38) (39) (40) (41) (42) (43) (44) (45) (46) (47) (48)
I All industrial groups ......................... 13~951 131665~879 11,484 14,292,849 14,264 863,506 10,409 8,417,317 8,623 11,361,905 10,635 751,388 3
2 Agriculture, forestry, and fishery ............ 107 71,456 107 56,175 107 4,917 97 25,668 87 30,895 97 2 , 015 ;
3 Farms and agricultural services ............. 97 71,142 97 55,779 97 4,912 81 25,166 81 29,797 81 1 , 761 3
4 Forestry .................................... - - - - 1 155 1 550 1 8 A
5 Fishery ..................................... (2) (2) (2) (2) - (2) (2) (2)
(1) (1) - (2) (1) (1) 1
6 Mining and quarrying .......................... 105 60 189 110 74,997 110 6 618
(2) ( 2 (2 2) 76 79,053 76 85,344 76 7 , 687 f
7 Metal mining ................................. (2) 2 12,695 2 10,549 2 388
8 Anthracite mining ........................... - - (2) (2) (2) (2) (2)
(2)
9 Bituminous coal and lignite mining.... ...... 2 1,019
- 2 2,316 2 170 8 6,271 8 5,816 8 477 9
10 Crude petroleum and natural gas production.. 67 31,667 67 27,830 67 2,993 20 23,629 20 31,694 20 3,740 1C
11 Nonmetallic mining and quarrying ............ 26 24,372 31 ",690 31 3,444 41 36,220 41 36,137 41 2,887 11
12 Construction .................................. 692 255,894 709 558,096 709 21,394 467 128,693 483 277,%4 498 10,268 12
13 Manufacturing ................................. 2,787 5,658,671 2;907 9,332,991 2,817 539,"0
14 Beverages ................................... 2,564 4,230,318 2,570 7,490,237 2,585 519, 941 13
60 43,623 60 68,583 60 4,278 119 107,282 119 167,072 119
5 Food and kindred products ................... 17,938 14
303 348 , 4 50 304 1,797,044 304 33,646 124 188,269 124 454,669 124
1
16 Tobacco manufactures ........................ 15,145 15
2 1,060 2 4,632 2 146 1 3,875 1 3,853
17 Textile-mill products ....................... 1 49 16
127 457,022 127 467,130 127 15,776 134 423,606 134 661,396 1-34
18 Appare l and products made from fabrics ...... 27,209 1?
337 142,394 338 379,632 338 11,238 459 333,471 466 754,046 466 27,553 18
19 Lumber and wood products, except furniture.. 131 99,184 122 178,114 132 9,805 118 87,375 119 145,507 119 6, 292 19
?0 Furniture and fixtures ...................... 90 29,529 90 68,106 90 4,238 127 181p309 128 348,065 128 24, 657 20
21 Paper and allied products ................... 53 393,139 54 406,985 54 57,729 43 192,353 44 225,284 25, 597 21
22 Printing, publishing, and allied industries. 249 65p921 259 108,743 259 6,315 199 43,731 194 83,452 199 6, 856 22
?3 Chemicals and allied products ............... 133 256,393 133 460,002 133 31,848 203 450,436 204 592,676 204 45 , 379 23
?4 Patrols= and coal products ................. 15 103,161 15 136,835 15 8,599 12 84,260 12 96,975 12 7,911 24
?5 Rubber products ............................. 30 559,402 30 864,916 .30 61,457 16 129,8" 16 171,733 16 2 , 390 25
26 Leather and products ........................ 138 263,221 138 518,010 138 28,426 153 367,395 154 614,697 154 34 ,2" 26
?7 Stone, clay.and glass products .............. 92 104,024 93 136,924 93 11,808 115 72,103 116 116oO46 116 8,993 27
?8 Pri mary metal industries .................... 101 90,082 101 163,287 101 9,346 73 137,785 78 220,862 78 21 , "8 28
?9 Fabricated metal products, except ord- 273 176,740 273 267,223 273 27,312 226 252 , 643 228 415 , 016 228 42 o 489 29
equipment.
~O Machinery, except transportation equipment 235 2,167,131 240 2,655,795 240 175,215 190 667,611 190 1 , 026 , 245 190 76 , 839 30
and electrical.
11 Electrical machinery and equipment. ......... 116 114p632 126 207,944 126 14,880 60 77,536 60 145 , 242 60 17 , 111 31
12 Transportation equipment, except motor 30 87,804 30 165,884 30 9,342 15 297 , 217 15 990 , 587 15 90 , 062 32
vehicles.
13 Motor vehicles and equipment, except elec- 24 37,788 24 67,606 24 4, 126 24 32 , 689 24 55, 387 24 6 o O91 33
trical.
14 Ordnance and accessories .................... 1 1,618 1 4o397 1 388 2 7,694 2 41,922 2 2 , 153 34
15 Scientific instruments; photographic 29 5,946 29 lOtO5O 29 689 19 13,528 19 29,911 19 2 , 139 35
6 Other manufacturing ......................... 218 110,407 218 195,149 218 l2o833 1-32 78,3G4 133 129,594 133 11,396 36
17 Public utilities .............................. 402 137,875 422 90,120 422 10,763 256 79,197 276 $7,713 276 9, 883 37
Is Transportation .............................. 348 81,589 358 71,135 358 8 433 220 35,326 240 53,383 240 2 , 945 38
19 Communication ............................... (2) (2) (2) (2) (2) I
( ) 9 20,225 9 19 751 9 5 , 212 39
0 Electric and gas utilities .................. 3 48,347 13 16,039 13 2,123 (2) (2) (2) (2 2)
1 Other public utilities ...................... (2) (2) (2) (1) 40
(2) (2) (2) (2) (2) (2)
(1) (1) (1) 41
2 Trade ......................................... 4o580 1,260,206 4,647 3,578,751 4,683 110,822 3,375 1,248,769 3,391 3,046,713 3,411 100,897 42
3 Wholesale ................................... 1,745 769,880 1,765 2ol5O,972 1,781 67,943 1,536 852,997 1,546 2,105,725 1,556 70,009 43
4 Commission merchants . ..................... 254 35,676 264 61,282 264 3,196 171 102o123 187 68,215 187 6o712 "
5 Other wholesalers ......................... 1,491 734,204 1,501 2,089,690 1,517 64,747 1,365 750,874 1,359 2,037,510 1,369 63o297 45
6 Retail ...................................... 2,260 404,459 2,281 1,183,422 2,301 34,827 1,485 285,162 1,491 665,262 1,501 21,852 46
7 Food ......................................
222 68,294 220 335,653 230 9,752 122 14,749 127 101,391 127 l,"2 47
a General merchandise .......................
17 7,989 17 26,596 17 837 43 15,738 43 29,052 43 986
9 Apparel and accessories ................... 48
219 46,981 220 119,033 220 4,276 108 20,807 108 ",530 108 1,195 49
0 Furniture and housefurni.hings ............ 188 27, 485 193 55 , 02 8 193 1,851 lis 25,956 118 42p316 118 2,404 50
1 Automotive dealers and filling stations ... 361 73J41 351 265,785 361 4p363 223 30,552 213 101,810 223 1 , 373 51
2 Drug stores ............................... 101 6,215 101 19,260 101 574 52 1,908 62 6 , 825 62 247 52
3 Eating and drinking places ................ 269 17,537 289 48,982 289 1,717 89 7,963 89 25,139 89 713 53
4 Building materials and hardware ........... 474 109p859 475 196p833 475 8p635 526 132,104 527 240,667 527 9 , 928 54
5 Other retail trade ........................ 409 47pO58 415 116p252 415 2,822 204 35,385 204 73p532 204 3,564 55
6 Trade not allocable ......................... 575 85,867 601 244p357 601 8,052 354 llOp6lO 354 275,726 354 9oO36 56
7 Finance, insurance,' real estate, and lessors 3,%4 5,929,334 1,348 122,898 4pO81 133,735 2,686 2p"7,675 821 109,310 2,762 82 , 385 57
of real property.
8 Finance ..................................... 827 5,342p420 477 53oO53 861 101,080 516 1,951p981 182 42,922 53? 55,051 58
59 Banks and trust companies ................. 180 3,941p208 162 2pO62 184 13,306 6 1,228,706 5 17,560 7 9,015 39
0 Credit agenc i es other than banks .......... 514 623o321 296 "p932 544 25,491 340 260,361 134 13,290 360 5,861 60
1 Holding and other investment companies .... 103 714p6O5 2 804 105 61,549 132 412,070 (2) (2) 132 38 ,431 61
2 Security and oommodity-exchange brokers 28 63,286 17 5,255 28 734 38 50,844 33 l2oO52 38 1 p 744 62
and dealers.
3 Insurance carriers' and agents .............. 210 19p441 230 18p336 231 1 556 115 14,072 115 8 ,671 115 1 , 734 63
4 Insurance carriera l ....................... (2) (2) (2) (2) (2) I
5 Insurance agents and brokers .............. ( ) 1 3,924 1 1,450 1 777 64
204 17p360 224 16 p 547 224 1 , 283 114 10 , 148 114 7 , 221 114 957 65
5 Real estate, except lessors of real prop- 2o846 550,826 626 50,381 2p9O8 29,721 2,020 477 , 053 509 57 , 625 2 , 065 25 ,335 66
7 Lessors of real property, except buildings.. al 16,647 (2) (2) 81 lp378 35 (2)
4,569 (1) 45 265 67
5 Services ...................................... 1,309 291p943 lp329 478,314 1,330 35,688 862 175,848 873 231,914 883 17,312 68
? Ho t el s and other lodging places ............. 208 56pO12 227 46,326 228 3,007 51 32,051 61 25 , 861 61 1 , 775 69
) Persona l serv ices ........................... 293 27o825 293 53,212 293 3,255 224 19,497 224 32,688 224 lp287 70
L Business services ........................... 308 37,980 309 84,620 309 4,216 276 35,689 276 83,709 286 4p838 71
? Automotive repair services and garages ......
96 9,577 96 14p"9 96 1,049 72 9,120 72 7,696 72 1,023 72
3 Miscellaneous repair services, hand trades.. 39 3p627 39 8,916 39 298 2,232 9, 142 44 300 73
.1 Motion pictures ............................. ill 115,597 ill 193,081 ill 17,805 109 31,223 109 26,213 109 1,674 74
5 Amusement, except motion pictures ........... 147 2 9 ,609 147 46,699 147 4,281 60 40o"4 61 38,398 61 5,282 73
i Other services, including schools ........... 107 11 , 716 107 31 , 011 107 1 , 777 26 5,592 26 8,207 26 1,133 76
Mature of business not allocable .............. (2) (2) 1 (2) 1 (1) 1 (1) 1 (2) 36 2oO96 46 1,815 57 1,000 77
1
of table. See text for exPlanatOr7 statements and for "Description of the Semple and Limitations of Data.-,

Table 17.-TOTAL ASSETS, GROSS RECEIPTS.FROM SALES AND FROM OPERATIONS, AND NET INCOME,BY MONTH IN WHICH ACCOUNTING PERIOD ENDED, BY MAJOR INDUSTRIAL GROUP-Continued
Returns with annual accountIng period ended-Continued
January 1955 February 1955

(77...-d of (77..-d of (7h...-d of (7h-.-d of (Th.-d of (Th-aand
of
returns- d.11 ... ) returns d.11 ...) returns d.11... returns dol I...) returns dbll-) returns d.11-)
(49) (50) (51) (52) (53) (54) (55) (56) (57) (58) --759) (60)
I All industrial groups ......................... 13,555 10,393,497 11,712 18,483,842 13,781 1,020,670 11,910 4,797,905 9,836 11,616,572 12,185 459,830 1
2 Agriculture, forestry~ and fishery ............ 83 26,775 93 29,237 103 1,968 132 45pO61 153 34,208 153 4,157 2
3 Forms and agricultural services ............. 68 24p996 88 28,307 88 1,748 132 45,061 143 34,025 143 4,089 3
4 Forestry .................................... (2) (2) - - (2) (2) - - - - - - 4
5 Fishery ..................................... (2) (2) (2) (2) (2) (2) - - (2) (2) (2) (2) 5
6 Mining and quarrying .......................... 47 11,138 47 14,860 47 855 127 40,4% 122 49,271 127 3,681 6
7 Metal mining ................................ - - - - - - (2 (2) (2) (2) (2) 7
(2)
8 Anthracite mining ................... - - - - - - - - - - - 8
9 Bituminous coal and lignite mining..: -**** : 1 1,537 1 2,677 1 8 1 752 1 739 1 43 9
10 Crude petroleum and natural gas production.. 38 7,486 38 9,070 38 519 70 26 323 65 33,242 70 2,422 10
11 Nonmetallic mining and quarrying ............ (2) (2 (1) (2 (2) (2) 46 13,068 46 14,509 46 1,202 11
) ) ,
12 Construction .................................. 568 163,889 554 380,972 574 15,679 792 184,077 808 488,534 808 18,129 12
13 Manufacturing ................................. 1,907 958,208 1,918 2,071,800 1,928 107,404 1,962 1,549,062 1,979 2,739,342 1,989 183,304 13
14 Beverages ................................... 21 9,092 21 16,457 21 1,038 11 14,335 11 26,879 11 1,393 14
15 Food and kindred products ................... 116 90,917 116 257,521 116 7,590 191 517,759 191 948,183 191 49p877 15
16 Tobacco manufactures ........................ - - - - - - - - - - - - 16
17 Textile-mill products ....................... 134 65,640 134 151,832 134 5,629 101 29,847 101 68,346 101 3,604 li
is Apparel and products made from fabrics. ..... 419 126,825 419 375,308 419 10,226 248 61,327 253 178,000 253 3,624 18
19 Lumber and wood products, except fuwnit~re.. 70 38,777 70 80,341 70 2,934 95 97,682 95 147*,067 95 11,062 1S
20 Furniture and fixtures ...................... 45 26,877 45 51,016 45 3,725 76 24,265 76 50,979 76 5,588 2C
21 Paper and allied products ................... 30 18,478 30 36,231 30 2,079 60 34,149 60 52,019 60 3,642 21
22 Printing, publishing, and allied industries. 237 97,745 248 170,369 248 13,127 156 95,966 156 152,106 166 16,076 22
23 Chemicals and allied products ............... 87 32p701 87 84,100 87 4,989 102 52,505 103 93,276 103 4,802 23
24 Petroleum and coal products ................. 8 16,606 8 38,715 8 977 13 1,974 14 11,684 14 282 24
25 Rubber products ............................. 9 14pOO8 9 29,524 9 1,165 34 73,298 34 108,953 34 8,563 2,-
26 Leather and products ........................ 51 llp219 51 37,221 51 810 39 15,550 39 37,780 39 1,691 2C
27 Stone, clayand glass products .............. 66 69,681 66 106,151 66 13,356 67 22,471 67 45,374 67 3,613 25
28 Primary metal industries .................... 38 14p444 38 33,927 38 1,932 42 16,663 42 36,125 42 2o963 2E
29 Fabricated metal products, except ord- 151 72,096 151 150,429 151 6,706 258 77,567 268 174,189 268 11,415 2~
equipment.
30 Machinery, except transportation equipment 141 94,079 141 144,254 151 13,013 117 189,579 117 205,823 117 23,031 3C
and electrical.
32 Transportation equipment, except motor 7 3,161 7 10,003 7 392 11 4,120 11 10,104 11 849 X
vehicles.
33 Motor vehicles and equipment, except elec- 21 11,154 21 23,935 21 1,944 19 16,564 19 34,337 19 1,572 33,
trical.
34 Ordnance and accessories .................... - - - - - - - - - - - - 34
35 Scientific instruments; photographic 24 27,319 24 44,617 24 4,174 36 50,710 36 70,771 36 3,647 3!
36 Other manufacturing ......................... 171 87,768 171 164,073 171 8,086 198 98,791 198 166,683 198 15,623 3E
37 Public utilities .............................. 203 33,714 203 43,100 203 5,022 388 371,821 420 215,473 420 24,150 3-,
38 Transportation .............................. 174 26,901 174 36,198 174 4,143 374 59 239 386 80,544 386 7,586 X
39 Communication ............................... (2) 2) (2 2) (2 2) 2 61178 (2) (2) (2) 35
) ( ) ( , (1)
40 Electric and gas utilities .................. 1 3,039 1 1,596 1 272 2 306,387 2 131,019 2 16 169 4C
41 Other public utilities ...................... (2) (2 (2) (2 (2) (2) (2) (2) (2) (2) (2 41
) ) (1) ),
42 Trade ......................................... 7,"S 7,895,005 7,496 15,691,408 7,527 820,796 4,547 1,645,223 4,609 7,853,784 4,614 161,136 4,
43 Wholesale ................................... 1,591 622,331 1,585 2,043,120 1,605 42,216 1,715 512,115 1,726 1,797,656 1,731 38,650 41
44 Commission merchants ...................... 248 36,992 238 68,163 248 3,903 154 32p971 164 98,812 164 3,745 U
45 Other wholesalers ......................... 1,343 585,339 1,347 1,974,957 1,357 38,313 1,561 479,1" 1,562 1,698p844 1,567 34,905 4.1
46 Retail ...................................... 5,"g 7,175,761 5,498 13,403,353 5,509 771,920 2,440 1,044,606 2,486 5,803,904 2,486 116,452 4~
47 Food ...................................... 170 56,321 170 283,086 170 6,031 170 691,851 170 4,994,171 170 90,052 41,
48 General merchandise ....................... 1,279 5,831,511 1,283 10,425,931 1,293 672,092 115 24,875 115 48,951 115 1,641 4E
49 Apparel and accessories ................... 2,264 857,966 2,293 1,803,864 2,294 65,769 433 63,134 439 137,382 438 3,661 4~
50 Furniture and housefurnishings ............ 396 158,289 397 225,254 397 8,997 284 75,164 289 110,356 289 5,105 5C
51 Automotive dealers and filling stations ... 224 55,264 224 201,577 224 4,685 262 43,813 262 177,339 262 3,387 51
52 Drug stores ............................... 137 27,181 137 80,733 137 2,076 123 6,999 133 22,917 133 711 5;
53 Eating and drinking places ................ 167 9,787 167 34,068 167 1,308 252 13,049 267 42,510 267 1,818 5-
54 Building materials and hardware ........... 293 60,120 293 125,712 293 3,654 343 53,197 344 125,371 3" 4,295 5~
55 Other retail trade ........................ 519 119,322 534 223,128 534 7,308 458 72,524 468 144,907 468 5,782 5!
56 Trade not allocable ......................... 408 96,913 413 2",935 413 6,660 392 88,502 397 252,224 397 6,034 5t
57 Finance, inauraxice,l real estate, and lessors 2,492 1,138,941 636 93,588 2,562 57,194 3,146 848,971 946 92,383 3,217 50,027 5-,
of real property.
58 Finance ..................................... 386 469,782 107 24,333 403 21,968 472 316,931 217 21,029 47~ 21,608 56
59 Banks and trust companies ................. - - - - - - (2) (2) (2) (2) (2) (2) 5~
60 Credit agencies other than banks .......... 221 240,773 83 13,195 227 6,666 342 189,042 (2 139 10,105 342 4 538 6(
61 Holding and other investment companies .... 151 210,540 (2) (2) 162 14,215 92 103,086 (2) 92 16:787 61
)
62 Security and commodity-exchange brokers 14 18,469 3 9,970 14 1,087 (2) (2) 2) (2) (2) (2) 6,
and dealers.
63 Insurance carriers' and agents .............. 96 8,200 106 5,172 106 750 143 13,607 133 13,296 143 785 6.
64 Insurance carriers' ....................... (2) (2) (2) 1 319 1 527 1 24 &
(2) (1) (1)
65 Insurance agents and brokers .............. 91 6,696 101 4,213 101 658 142 13,288 132 12,769 142 761 6!
66 Real estate, except lessors of real prop- 1,995 654,041 421 62,718 2,028 33,323 2,489 513,942 596 58,058 2,550 27,448 6(
67 Lessors of real property, except buildings.. 15 6,918 2 1,365 (1) (2) (2) (2) - - (2) (2) 6r,
66 Services ...................................... 779 156,411 738 154,524 789 11,469 756 92,532 749 140,227 797 14,831 6E
69 Hotels and other lodging places ............. 74 27,023 64 14,223 74 1,441 87 17,532 62 11,964 87 1,282 6~
70 Personal services ........................... 123 15,263 123 26,196 123 1,701 135 10,576 140 25,887 140 1,212 7(
71 Business services ........................... 308 79,289 272 72,169 308 3,883 259 25,706 273 47,197 284 3,186 71
72 Automotive repair services and garages ...... 74 16,064 69 10,157 74 637 58 10,361 46 6,321 58 806 7;
73 Miscellaneous repair services, hand trades.. (2) (2) (2) (2) (2) (2) (2) 71
(1) (1) (1) (1) (1)
74 Motion pictures ............................. 76 5,780 76 9,035 76 947 69 7,209 70 14,809 70 1,459 7~
75 Amusement, except motion pictures ........... 58 6,115 58 7,323 58 1,495 56 12,791 66 14,406 66 4,388 7!
76 Other services, including schools ........... 47 5,349 47 10,687 47 1,322 71 6,725 71 17,504 71 2,407 7(
77 Nature of business not allocable .............. 28 1 9,416 , (2) 1 (2)48 283 60 1 20,662 , 50 1 3,350 , 60 4,15 7,
1
See footnotes at end of table. See text for explanatory statements and for --Description of the Sample and Limitations of Data."
Tablo IT.-TOTAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOME,BY MONTH IN WHICH ACCOUNTING PERIOD ENDED, BY MAJOR INDUSTRIAL OROUP-C~dn..d

h
March 1955 April 1955
Gross receipts fr Gross receipts from
Major industrial group Total assets sales and from Net income Total assets sales and from Met income
Number Amount Number Amount Number C Amount Number Amount Number
of Amount Number Amount
of of of
(Th--d (TI.-d Z-d of (7b-.-d (7h--d of (n-...d
returns d.11.,.) returns d.11-) returns d.11arm) returns bllarx) returns d.11... returns d.11...
(61) (62) (63) (64) (65) (66) (67) (68) (69) (70) (71) (72)
1 All industrial groups ......................... 22,001 8,234,940 18,265 15,326,764 22,561 769,755 15,734 6,760,983 12,408 9,944,916 16,104 559,846 1
2 Agriculture, forestry, snd fishery ............ 342 124,447 332 123,952 343 10,344 163 69,646 164 66,139 164 7,745 2
3 Farms and agricultural services ............. 320 111,841 321 123,126 321 9,227 161 69,261 162 64,403 162 7o628 3
4 Forestry .................................... (2) (2) - - (2) - - - -
(1) - - 4
5 Fishery ..................................... (2) (2) (2) (2) (2) (2) 2 385 2 1,736 2 117 5
6 Mining and quarrying .......................... 227 214 982 233 224,016 233 22,391 176; 110,103 176 142,593 186 9,298 6
7 Metal mining ................................ (2) (2 (2) (2) (2) (2) 1 651 1 771 1 142 7
8 Anthracite mining ........................... (1) (2) (2) (2) (2) (2) 1 642 1 718 1 119 8
9 Bituminous coal and lignite mining .......... 25 60,600 30 45,709 30 3,335 6 49,553 6 66,995 6 2,007 9
10 Crude petroleum and natural gas production.. 87 69,416 87 78,136 87 8,241 96 34,606 86 41,674 96 3,552 10
11 Nonmetallic mining " quarrying ............ 98 83,168 98 94,085 98 10,431 72 24,651 82 32,435 82 3,478 11
12 Construction .................................. 1,758 477,420 1,786 1,122,315 1,796 48,391 1,090 292,190 1,087 611,604 1,107 22,331 12
13 Manufacturing ................................. 4,045 3,147,334 4,041 5,753,539 4,061 377,773 2,594 2,319,005 2,581 3,733,268 2,611 27:1,127 13
14 Beverages ................................... 96 49,686 96 145,869 96 6,294 51 100,026 148,995
51 51 12,807 14
15 Food and kindred products ................... 43? 792,879 441 1,801,300 441 108,819 258 301,543 258 733,566 258 27,896 15
16 Tobacco manufactures ........................ 1 510 1 1,126 1 1 2 3,023 2 4,202 2 123 16
17 Textile-mill products ....................... 170 251,079 170 346,016 170 16,382 145 89,685 145 163,783 145 6,226 17
is Apparel and products made from fabrics ...... 351 86,657 351 253,019 351 5,401 345 89,394 360 250,295 360 6,866 18
19 Lumber and wood products, except furniture.. 257 191,812 258 320,454 258 25,581 118 217,007 108 278,388 118 21,038 19
201 Furniture and fixtures ...................... 206 92,241 206 197,428 206 10,786 117 58,072 117 120,714 117 6,357 20
2 Paper and allied products...... ............. 104 205,086 105 259,583 105 26,304 54 439,580 54 374,952 54 54,464 21
22 Printing, publishing, and allied industries. 453 150,424 443 246,941 453 15,594 327 144,031 317 219,281 327 18,750 22
23 Chemicals and allied products ............... 182 76,325 182 160,856 182 11,760 85 31,253 85 69,369 85 5,257 23
24 Petrels= and coal products ................. 20 66,404 20 162,669 20 ?,342 9 33,446 9 61,397 9 4,467 24
25 Rubber products ............................. 22 10,655 22 25,904 22 1,406 15 14,104 15 31,970 15 3,083 25
26 Leather and products ........................ 97 30,746 97 78,636 97 4,026 67 30,201 67 81,008 67 2,878 26
27 Stone, clayand glass products .............. 200 113,412 200 161,076 200 13,5% 66 117,478 66 117,685 66 23,570 27
28 Primary metal industries. ................... 65 55,483 75 94,317 75 5,717 79 14,300 79 33,036 79 2,324 28
29 Fabricated metal products, except ord- 400 128,200 400 255,045 400 13,537 210 118,518 210 207,895 210 16,782 29
equipment.
and electrical.
32 Transportation equipment, except motor 22 9,820 22 18,345 22 1,571 31 161,563 31 228,728 31 13,128 32
vehicles.
33 Motor vehicles and equipment, except elec- 44 30,490 61,449 44 2,136 19 7,832 19 23,071 19 718 33
trical.
34 Ordnance " accessories .................... - - - - - - - - - - - - 34
35 Scientific instruments; photographic 87 97,038 67 135,985 87 12,963 32 35,566 32 66,689 32 5,425 35
36 Other manufacturing ......................... 328 125,880 328 231,742 328 17,786 268 67,801 270 131,167 270 7,321 36
37 Public utilities .............................. 544 118,079 554 126,042 554 10,061 457 146,085 453 119,732 463 14,690 37
38 Transportation .............................. 493 93,105 503 113p325 503 7,978 417 138,547 413 112,725 423 13,306 38
39 Communication ............................... (2) (2) (2) (2) (2 (2) ~2 ( ~2) 2) (1)
(2)
) (2) 39
40 Electric and gas utilities .................. 9 9,770 9 5,623 9 1,106 2) (2) 2
(2) 40
41 Other public utilities. ..................... (2) (2) (2) (2) (2) (2) (2) (2) (2) (2) (2)
(1) 41
42 Trade ......................................... 7,480 2,123,421 7,628 7,345,190 7,638 190,936 5,310 1,330,595 5,412 4,689,538 5,422 122,514 42
43 Wholesale ................................... 2,869 1,100,206 2,898 3,908,163 2,908 91,053 2,141 683,064 2,152 2,471,598 2,162 56,455 43
44 Commission merchants ...................... 330 52,665 325 158,750 335 3,866 267 37,404 267 112,700 267 3,529 "
45 Other wholesalers ......................... 2,539 1,047,541 2,573 3,749,413 2,573 87,187 1,874 645,660 1,885 2,358,898 1,895 52,926 45
46 Retail ...................................... 3,858 878,303 3,976 3,062,899 3,976 90,362 2o628 510,883 2,709 1,810,351 2,709 53,670 46
47 Food ...................................... 461 318,694 472 1,658,009 472 46,731 273 168,986 274 869,447 274 21,589 47
48 General merchandise ....................... 121 21,233 121 64,308 121 2,187 al 8,462 al 16,630 81 568 48
49 Apparel and accessories ................... 388 56,739 388 86,423 388 3,299 244 18,046 249 37,490 249 1,163 49
50 Furniture and housefurnishings ............ 456 82,069 471 162,025 471 4,388 355 45,012 355 83,865 355 3,052 50
51 Automotive dealers and filling stations ... 512 116,522 5314 415,815 534 7,743 307 66,0.34 317 271,377 317 4,423 51
52 Drug stores ............................... 144 26,918 1" 82,857 1" 3,493 107 15,700 107 39,916 107 1,564 52
53 Eating and drinking places ................ 382 24,461 412 80,551 412 3,358 291 26,244 351 78,526 351 3,207 53
54 Building materials and hardware ........... 479 79,068 489 199,152 489 6,943 303 52,732 303 113,520 303 4,807 54
55 Other retail trade ........................ 915 152,599 945 313,759 945 12,220 667 109,667 672 299,580 672 13,297 55
56 Trade not allocable.. ....................... 753 1",912 754 374,128 754 9,521 541 136,648 551 407,589 551 12,389 56
57 Finance, insurance,1 real estate, and lessors 5,372 1,721,658 1,518 171,709 5,617 72,951 4,"2 2,139,981 1,139 192,586 4,598 84,432 57
of real property.
58 Finance ..................................... 719 785,831 257 55,647 735 23,574 674 1,132,956 217 82,764 695 34,191 58
59 Banks and trust companies ................. 31 332,431 31 13o923 31 1,502 18 137,882 (2) 1,018
(1) is 59
60 Credit agencies other than banks .......... 500 159,565 177 16,367 516 5,475 482 527,875 166 16,901 492 9,173 60
61 Holding and other investment companies .... 126 257,214 (2) (2) 126 14,488 126 266,477 1 21 127 21,773 61
62 Security and commodity-exchange brokers 62 36,621 34 23,143 62 2,109 48 200,722 42 65,291 58 2,227 62
and dealers.
63 Insurance carriersl and agents .............. 297 32,417 297 28,868 308 3,353 182 25,320 191 14,800 192 1,945 63
64 Insurance carriers' ....................... (2) (2) (2) (2) (2) (2) - -
1 299 1 5 64
65 Insurance agents and brokers .............. 287 31,895 287 28,785 297 3,336 181 25,021 191 14,800 191 1,940 65
66 Real estate, except lessors of real prop- 4,303 896,551 963 87,173 4,521 45,346 3,503 972,240 730 95,017 3,618 47,223 66
67 Lessors of real property, except buildings.. 53 6,859 1 21 53 678 83 9,465 1 5 93 1,073 67
68 Services ...................................... 2,147 303,207 2,107 457,469 2,233 35,664 1,406 348,492 1,320 386,492 1,447 27,146 68
69 Hotels and other lodging places ............. 162 67,810 122 29,810 172 4,175 193 196,137 147 118,064 199 8,339 69
70 Personal services ........................... 460 44,708 450 90,108 460 4,167 254 39,652 259 59pO22 259 3,066 70
?i Business services ........................... 589 73,685 573 160,457 609 8,367 369 35,544 324 103,134 369 4,338 71
72 Automotive repair services and garages ...... 191 15,596 171 23,528 201 1,154 138 31,906 118 19,193 138 2,191 72
73 Miscellaneous repair services, hand trades.. 94 7,518 94 19,258 94 1,020 60 3,389 60 9,447 60 301 73
74 Motion pictures ............................. 243 35,160 243 47,898 243 6,204 77 8,413 87 14,576 87 1,611 74
75 Amusement, except motion pictures ........... 223 42,581 268 50,817 268 8,182 170 23,813 190 42,961 190 6,574 75
76 Other services, including schools ........... 185 16,149 186 35,593 186 2,395 145 9,638 135 20,095 145 726 76
77 Nature of business not allocable .............. . 86 1 4,392 1 66 2,532 86 , 1,244 96 1 4,886, 76 2,964 , 106 563 77
Table 17-TOTAL ASSETS, GROSS RECEIPTS FROM SALES AND FROM OPERATIONS, AND NET INCOMEBY MONTH IN WHICH ACCOUNTING PERIOD ENDED, BY MAJOR INDUSTRIAL GROUP-Co.ti-d
Returns with annual account ing period ended-Continued
May 1955 June 1955

of . (Th-d of (Th.-d of (Th.-d of of of
(A-d (Th,"
." :,_ d (Th .....d
return d.11-) returns d.11...) returns d.11-) returns d.11.,.) returns re turns
) d.11 ...
(73) (74) (75) (76) (77) (78) (79) (80) (81) (82) (83) (84)
1 All industrial groups ......................... 14,824 6,229,137 11,731 10,751,740 15,041 533,100 32,852 15,688,031 27,611 26,071,584 33,471 1,388,750 1
2 Agriculture, forestry, and fishery ............ 267 80 659 267 101,981 267 7,315 579 238,633 590 289,051 590 23,415 2
3 Farms and agricultural services .............. 252 79:854 252 101,156 252 7,199 563 237,462 574 286,505 574 23,219 3
4 Forestr7 ....................... - - - - - ) _ (
(1) (2) (1) (2) (2) (2)
4
5 Fishery ........................ (2) (2) (2) (2 2) (2) (2) (2) (2)
(1) (1) (1) 5
6 Mining and quarrying .......................... 139 117,861 130 145,509 140 21,226 346 354,329 367 311,336 367 23,852 6
7 Metal mining ................................ 2 26,245 2 16,957 2 6,324 21 21,682 21 14,389 21 3,885 7
8 Anthracite mining ................. - - - - - - 3 1,114 3 6,511 3 159 8
9 Bituminous coal and lignite mining::::: 16 8,259 16 8,676 16 523 43 48,090 44 42,691 44 3,186 9
10 Crude petroleum and natural gas production.. 85 62,311 76 78,288 86 11,297 216 249,211 236 208,996 236 12,605 10
11 Nonmetallic mining and quarrying. ........... 36 21,046 36 41,588 36 3,082 63 34,232 63 38,749 63 4,017 11
12 Construction .................................. 715 137,195 699 338,515 719 11,985 1,619 532,817 1,654 815,183 1,655 36,625 12
13 Manufacturing ................................. 2,782 2,816,826 2,791 4,917,464 2,802 298,220 6,647 6,603,929 6,672 12,259,451 6,684 823,379 13
14 Beverages ................................... 30 5,774 30 9,223 30 589 61 66,014 61 170,932 61 7,003 14
15 Food and kindred products ................... 295 703,969 295 1,950,033 295 77,646 589 874,759 596 2,414,835 596 97,982 15
16 Tobacco manufactures ........................ 3 4,354 3 10,976 3 35? 6 4,797 6 16,842 6 661 16
17 Textile-mill products ....................... 151 82,188 156 151,890 156 6,810 312 640,509 311 927,245 311 42,512 17
18 Apparel and products made from fabrics ...... 368 85,650 369 286,621 369 6,907 837 303,499 843 835,432 843 24,302 16
19 Lumber and wood products, except furniture.. 126 39,999 127 91,518 127 5,899 364 196,952 380 368,355 380 22,762 19
20 Furniture and fixtures ...................... 123 53,035 123 99,225 123 5,956 283 146,648 283 306,493 283 19,292 20
21 Paper and allied products ................... 59 89,829 59 143,235 59 8,320 195 143,255 196 257,182 196 20,009 21
22 Printing, publishing~ and allied industries. 212 53,218 211 105,050 212 6,890 662 214,906 660 347,814 662 28,247 22
23 Chemicals and allied products ............... 217 775,060 222 618,019 222 79,099 438 1,221,611 429 1,932,281 439 189,851 23
24 Patrols= and coal products ................. 6 18,800 7 33,88d 7 1,022 27 91,593 27 130,827 27 3,858 24
25 Rubber products ............................. 19 3,567 19 10,175 19 582 47 42,143 47 86,723 47 6,344 25
26 Leather and products ........................ 84 40,001 84 112,524 84 3,537 121 88,937 121 198,065 121 9,170 26
27 Stone, clayand glass products.. ............ 98 35,506 98 61,770 98 4,528 192 108,336 192 184,746 192 16,362 27
28 Primary metal industries .................... 68 388,516 73 335,966 73 30,410 190 526,398 190 700,279 190 67,242 28
29 Fabr i cat ed me t a l prc<luc t s, except ord- 241 110,638 241 215,558 241 10,755 649 469,981 655 847,382 655 73,947 29
equipment.
and electrical.
31 Electrical machinery and equipment .......... 60 155,302 61 330,466 61 25,685 274 230,070 274 492,863 2?4 28,648 31
32 Transportation equipment, except motor 17 10,092 17 26,321 17 1,394 54 192,689 54 387 , 891
vehicles. 54 31 , 053 32
33 Motor vehicles and equipment, except elec- 28 6,419 28 12,424 28 549 59 50,629 59 107 , 966 59 6 , 031 33
trical.
34 Ordnance and accessories .................... 2 1,703 2 5,041 2 468 5 11,082 5 34,568 5 812 34
35 Scientific instruments; photographic 59 12,931 59 23,130 59 1,696 46 69,453 46 100,855 46 8 , 820 35
36 Other manufacturing ......................... 290 56,043 280 127,305 290 6,248 643 313,246 643 598,889 643 40,646 36
37 Public utilities .............................. 301 116,618 292 164,368 302 18,972 1,126 377,829 1,116 420,084 1,146 37,724 37
38 Transportation .............................. 268 106,258 259 152,865 269 18,061 924 311,657 904 376,759 934 30,952 38
39 Communication .................. 6 6,987 6 6,941
) ) 6 ( 7011 138 46,487 138 32,141 138 5,676 39
40 Electric and gas utilities ..... (2) ((2 2 (2 22) (2) (2) (2) (2) (2) (2)
) (1) 40
41 Other public utilities ...................... (2) 2) (2) 2) (2)
( ) 52 9,126 62 6,937 62 688 42
42 Trade ......................................... 5,317 1,375,059 5,361 4,722,979 5,381 104,722 12,383 3,154,065 12,563 11,114,962 12,593 254,650 42
43 Wholesale ................................... 2,375 908,307 2,416 3,371,579 2,416 4,981
65,928 1,895,272 5,016 7,211,198 5,036 142,190 43
44 Commission merchants ...................... 334 40,900 344 122,841 344 4,138 648 127,109 648 244,406 648 10,071 44
45 Other wholesalers ......................... 2,041 867,407 2,072 3,248,738 2,072 61,790 4,333 1,768,163 4,368 6,966,792 4,388 132,119 45
46 Retail ...................................... 2,420 362,589 2,423 1,041,785 2,443 29,435 6,235 1,024,525 6,360 3,210,851 6,370 94,691 46
47 Food ...................................... 215 38,492 216 208,038 216 4,158 495 193,218 500 1,033,561 500 25,532 47
48 Genera l merchandise ....................... 98 14,641 98 34,076 98 987 282 43,441 302 102,293 302 3,265 48
49 Appare l and accessories. .................. 222 17,761 222 43,260 222 1,225 889 102,096 889 244,144 889 9,489 49
50 Furniture and housefurnishings ............ 344 67,611 345 83,009 345 3,575 692 137,100 69? 248,994 697 9,452 50
51 Automotive dealers and filling stations ... 382 60,950 373 254,916 383 6,135 648 126,595 649 548,065 659 10,576 51
52 Drug stores ............................... 130 14,154 130 40,418 130 1,639 461 45,484 467 130,300 467 4,369 52
53 Eating and drinking places ................ 209 17,878 219 57,775 219 2,048 569 38,261 620 122,155 620 4,389 53
54 Building materials and hardware ........... 161 42,188 161 91,248 161 2,840 527 88,471 538 195,080 538 7,247 54
55 Other retail trade ........................ 659 88,894 659 229,045 669 6,828 1,672 249,859 1,698 586,259 1,698 20,372 55
56 Trade not allocable ......................... 522 104,163 522 2,09,615 522 9,359 1,167 234,266 1,187 692,913 1,187 17,769 56
57 Finance, insurance,' real estate, and lessors 4,161 1,445,668 1,135 178,149 4,278 57,566 7,389 3,916,353 2,076 215,082 7,607 134,015 57
of real property.
58 Finance ..................................... 643 653,071 329 70,661 660 14 327 1,456 2,600,679
2) 618 48,934 1,503 63,255 58
59 Banks and trust companies ................. ( 1) (2) (2) (2) 200 1,334,298
( ) 179 4,537 200 10,257 59
0 C re dit agenc i es other than banks .......... 512 271,936 262 12,820 524 5,956 971 830,778 371 26,807 1,016 21,853 60
1 H o ldi ng and o ther i nves t ment companies .... 62 72,895 1 28 67 6,126 236 401,281 24 6,562 238 29,393 61
2 Security and commodity-exchange brokers 48 37,678 45 57,618 48 1,578 49 34,322 44 11,028 49 1 , 752 62
and dealers.
3 Insurance carriersl and agents .............. 112 16,564 112 14,995 112 2,017 325 32,815 345 24 984 355 4,028 63
64 Insurance carriers' ....................... - - - - - - (2) (2) (2) (2 (2 2)
) ( 64
5 Insurance agents and brokers .............. 112 16,564 112 14,995 112 2,017 315 30,357 335 23,549 345 3,480 65
66 Real estate, except lessors of real prop- 3,349 771,319 684 92,122 3,449 40,768 5,520 1,275,007 1,098 140,820 5,661 65,597 66
7 Lessors of real property, except buildings.. 57 4,714 (2) (2) (2)
(1) 57 454 88 7,852 88 1,135 67
68 Services ...................................... 1,060 136,258 1,005 181,805 1,070 12,518 2,641 502,252 2,451 640,688 2,697 53,531 68
9 Hotels and other lodging places ............. 94 45,910 79 30,644 94 2,510 246 114,930 196 68,585 256 7,387 69
0 Personal services ........................... 179 19,693 184 37,489 184 1,742 521 48,361 531 81,152 531 4,951 70
71 Business services ........................... 312 19,932 272 . 35 914 312 2,743 809 725
94,699 172,593 840 12,925 71
2 Automotive repair services and garages ...... 97 6,284 102 81994 102 718 231
, 30,136 166 22,895 231 3,281 72
3 Miscellaneous repair services, hand trades.. so 4,959 80 8,173 80 434 168 10,705 168 24,804 168 890 73
74 Motion pictures ............................. 101 14,156 101 25,730 101 1,457 181 111,623 181 147,388 181 11,392 74
5 Amusemen t , except motion pictures ........... 114 19,906 114 26,644 114 2,209 200 47,178 200 56,669 200 6,643 75
6 Other services, including schools ........... 83 5,416 73 8,217 83 705 285 44,620 284 66,602 2910 6,062 76
7 INature of business not allocable .............. 1 82 1 2,993, 51 970 82 576 7,824
1 1 1 122 122 5,747 132 1 1,559 1 77
1 1 1
!For treatment of life and mutual insurance companies, see text, p. 17.
2SaMpling variability of this item was too
large to warrant showing it separately. However, this value was included in each total.
Tablo IS.-DICOME STATFIMENTS, BY MAJOR INDUSTRIAL GROUP
Item All Crud

Total Bituminow
industrial Farms Total petroleum Nonmetallic
agriculture, Anthracite coal and
groups agricultural Forestry Fishery minin and Metal -i~in and natural mining and
forestry mining lignite quarrying
services quarrying gas
and fishery mining production
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
I Number of returns with net income ........................ 441,177 4,741 4,428 lW1 153 4,248 215 57 "2J 2,208 1,306 1
Receipts:
2 Gro 388,711,543 1,427,269 1,380,121 30,244 16,904 5,261,939 1,135,689 73,172 1,063,313 1,972,930 1,016,935 2
3 .: 73,352,399 323,890 316,832 1,398 5,660 1,217,052 52,880 25,090 57,672 1,021,671 59,739 3
bond premium):
4 Wholly taxable ....................................... 1,997,805 lo974 1,820 118 36 10,150 4,718 213 1,963 2,543 913 4
5 Subject to surtax only ............................... 98,230 53 53 - 40 16 1.1 7 3 3 5
6 Wholly tax-exempt .................................... 384,322 153 148 5 670 99 - 240 152 179 6
7 Other interest ......................................... 7,674,412 4,708 4,509 199 10,944 3,916 191 2,226 3,946 665 7
a Rents .................................................. 3,883,445 15,175 14,925 230 20 16,604 2,194 169 4,249 7,116 2,876 8
9 Royalties .............................................. 521,790 5,176 5,098 78 - 28,362 3,521 103 1,162 20,255 3,321 9
10 Net short-term capital gain reduced by net long-term 61,457 163 159 4 - 1,293 254 1 63 934 41 10
capital loss.
11 Net long-term capital gain reduced by net short-term 1,81-2,320 22,433 14,416 7,748 269 66o301 6,702 685 15,940 39,023 3,951 3.1
capital lose.
12 Net gain, sales other than capital assets.............. 628,522 lo964 1,414 253 297 1,871 28 20 33 1,679 111 12
1.3 Dividends, domestic corporations ....................... 2o253,062 3o5O'7 3,150 357 - 60,503 19,592 11,600 7,358 20,967 986 13
14 Dividends, foreign corporations ........................ 606,952 3,783 3,781 2 1,421 87 2 93 1,239 - 14
15 Other receipts ......................................... 2,741,237 21,368 20,846 501 21 31,363 2,163 293 5,676 17,394 5,837 15
16 Total compiled receipts .......................... 484,727,486 1,831,616 1,767,272 41,137 23,207 6,708,513 1,231,859 111,550 1,159,895 3,109,752 1,095,457 16
Deductions:
17 Cost of goods sold..................................... 293,706,893 1,093,955 1,057,450 23,394 13,321 3,132,964 654,088 63,460 762,040 1,060,451 592,925 17
18 Cost of operations..................................... 42o352,497 155,830 1.52,530 339 2,961 739,6Z7 38,696 15,793 45,230 605,834 34,074 18
19 Compensation of officers ............................... 7,358,357 42,947 41,297 903 747 76,517 5,813 1,226 10,S45 31,"0 Z7,193 19
20 Rent paid on business property ......................... 4,023,467 33,315 32,998 35 282 29,059 1,018 436 6,272 16,442 4,891 20
21 Repairs ................................................ 4,523,457 27,492 26,902 29 561 101,571 15,630 1,328 28,509 24,003 32,101 21
22 Bad debts .............................................. 886,704 2,030 1,%8 18 44 5,180 286 72 774 2,388 1,660 22
23 Interest paid .......................................... 4,650,049 13,130 12,185 772 173 30,056 2,907 217 7,061 15,574 4,297 23
24 Taxes paid ............................................. 10,941,042 28,473 27,097 992 384 167,728 44,186 1,343 27,059 66,263 28,Wn 24
25 Contributions or gifts ................................. 309,208 1,0`72 1,056 14 2 4,730 440 92 588 2,593 1,017 25
26 Depreciation and aeorti.ation .......................... 11,666,519 60,899 59,426 606 867 345,809 44,996 2,769 55,355 183,689 59,001 26
27 Depletion.............................................. 2,198,145 2,134 1,603 531 - 536,969 109,975 519 34,780 3Z7,083 64,612 V
28 Advertising ............................................ 4,775,080 11,195 11,147 1 47 10,185 238 68 1,663 5,138 3,078 28
29 Amounts contributed under pension plans................ 2,694,500 3,304 3,293 11 - 87,711 8,967 1,796 52,988 20,790 3,170
30 Amounts contributed under other employee benefit plans. 824,228 1,354 1,337 13 4 9,396 1,010 Z72 3,831 2,551 1,732
31 Met lose, sales other than capital assets.............. 105,950 292 292 - 3,169 94 5 255 2,428 387
32 Other deductions ....................................... 53,5",238 177,873 172,70`7 2,800 2,366 481,124 59,250 7,791 75,465 228,761 109,857
33 Total compiled deductions ....................... 444,770,334 1,655,295 1,603,288 30,458 21,549 3,761,795 987,594 97,186 1,112,715 2,595,428
34 OmViled net profit (16 less 33) ......................... 39,957,152 176,321 163,984 10,679 1,658 946,718 244,265 14,364 47,180 514,324 126,585
33 Not income (34 less 6) ................................... 39,572,830 176,168 163,836 10,674 1,658 946,048 244,166 14,364 46,940 514,172 126p4O6
36 Not operating loss deduction ............................. 437,796 10,762 9,608 182 972 14,627 370 1,299 9,606 2_068
- 1,294
37 Income tax ........ .... 16,a23 2,41 65,713 61,948 3o513 252 427 464 111,268 1,858 15,948 239 076 59,314
38 Excess profits tax.,................... 3771.1 56 56 1 250 5 1 171 74
39 Total tax........................................ 16,860,952 65,769 62,004 3,513 252 428,714 111,268 1,863 15,948 240 2_47 59,388
40 Compiled not profit less total tax (34 less 39) .......... 23,D96,200 3.10,552 101,980 7,166 1,406 518,004 132,997 12,501 31,232 274,077 67,197 40
Dividends paid:
41 Cash and assets other than own stock................... 11,590,810 48,176 43,877 4,297 2 719,376 149,807 7,040 32,895 483,200 46,434 41
42 Corporatim's own Bt~k ................................ 1,316,460 2,534 2,534 - 18,Z75 993 1,352 10,717 5,213 42
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data.-
Table IS.-INCOMF STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued
Manufacturing
Lumber and Printing,

Item Apparel and wood Paper and Chemicals
Construction Food and Textile-mil-1 products Furniture publishing, and allied
Total Tobacco products allied
Beverag a kindre d manufactures products made from and fixtures and allied products
manufacturing except I products
products fabrics industries
furniture
(17) (20) (21) (22) (23)

(12) (13) (14) (15) (16) (18) (19)
.
3,617 2,617 2,004 9,454 4,588 1
21,411 74,608 1,717T--751-1 110, 3,193, 7,600
1 Number of returns with net income ........................
(7h--d d.11...
Receipts: 4,495,796 2,838,506 7,981,911 6,972,708 17,516,747

6,593,158 30,026,053 3,615,613 9,003,139 6,865,331
2 Gross sales ....................................... .... 2,446,154 232,471,267
63,109 6 ,033 18 , 786 480 , 941 66 , 815
11,311 106,763 2,076 142,425 171,902
3 Gross receipts from operations ......................... 11,995,073 4,026,269
Interest on Government obligations (leas amortizable
bond premi=)-. 2,907 1,228 1-2,247 6,192 24,159
2,273 187,462 2,124 7,767 205 4,857 780
4 Wholly taxable ....................................... 2 15 10 148 76 53
27 1,433 102 39 1 148
5 Subject to surtax only............................... 143 32 676 3?8 639
403 8,958 272 923 54 621 21
6 Wholly tax-exempt.................................... 4,039 1,928 7,615 4,340 18,466
7 , 217 190 , 711 5 ,055 14 , 222 777 7,503 1,927
7 Other interest .........................................
1,177 14,250 4,505 9,232 2,018 8,697 i6,283 16,768 f
8 Rents .................................................. 31,255 373,314 3,7(Y7 20,464
141 4 , 341 7 , 078 2 , 658 430 4 , 247 14,"l 51,141
Royalties .............................................. 1,113 227,790 2,587 7,811
9 22 758 262 390 1 136 1,064 362 1(
10 Net short-term capital gain reduced by net long-term 333 5,985 51 249
capital 10BA6 146,869 3,478 37,153 14,266 26,742 I~
497,935 4,810 23,317 764 16,166 3,425
11 Net long-term capital gain reduced by net short-term 30,412
capital loss. 1,884 123 870 2,188 437 1:
11,673 591 1,013 2 519 187
12 Net gain, sales other than capital assets .............. 2,446
5,209 957 14,040 22,520 137,089 1:
15,766 831, 354 2 , 601 14 ,860 1 , 294 8 , 290 1 , 370
1-3 Dividends, d omestic corporations .................... 30 1,563 5,621 5,068 53,354 1,
3 , 182 "9 , 707 943 29,825 532 2,348 198
14 Dividends, foreign corporat ions ..................... 17,061 34,291 67,321 64,156 L
139,227 754,909 18,900 73,792 1 2,755 33,546 21,075 32,209
15 Other receipts .........................................
7,078,063 4,764,490 2,873,368 8,126,438 7,607,786 17,976,928 10
16 Total compiled receipts .......................... 14,674,881 240,028,767 6,646,21.2 30,327,098 3,625,413 9,238,911
Deductions: 2,095,457 5,530,177 4,795,857 10,950,205 1!

1,979,394 169,357,666 4,169,569 24,174,627 1,998,7" 7,286,378 5,479,367 3,441,918
17 Cost of goods sold ..................................... 1,664 9,551 260, 372 16 , 228 11
10,144,452 2,119,679 2,287 32,545 903 80,346 130,590 40,589
18 Cost of operations ..................................... 74,189 98,810 248,777 214,229 1-
Compensation of officers ............................... 435,267 2,632,009 45 , 173 206, 030 8, 451 123 , 404 189 , 334 82 ,980
19 35,569 56,675 15,001 20,992 32,666 73,538 66,221 21
20 Rent paid on business property......................... 45,587 1,100,043 15,251 98,214 2,123
43,457 254,542 6,195 90,423 1-3,092 41,941 18,674 192,472 35,577 340 ,672 2:
21 Repairs................................................ 57,491 3,629,296 12,885 Z
5,454 18,792 1,146 5,714 7,704 6 ,435 4 , 776 4 ,668 19 , 105
22 Bad debts.............................................. 12,682 177,388
18,963 17,321 7,407 34,934 22,303 90,519 2

23 Interest paid.......................................... 33,289 897,870 22,176 90,167 29,193 37,250
81 , 816 80 , 656 41 , 023 132,805 MY7,251 226,457 2.
24 Taxes paid............................................. 148,037 5,831,305 953,408 327,822 95 9 ,396 140 , 390
5,197 2,795 2,789 9,555 9,888 12,541 2
25 Contributions or gifts ................................. 8 , 456 173 , 855 4 ,168 12 , 385 895 7,991
367,685 16,367 194,431 42,320 116,795 35,931 241,535 3.26,963 730,542 2
26 Depreciation and amortization........................... 228,200 5,813,372 101,214
1,543 - 282 110 139,34 8 96 11 , 101 157 56 , 959 2
27 Depletion.............................................. 4,602 1,503,395 792 543,506 2
610 , 109 146 , 654 68 ,031 70 , 896 18,829 37,704 45,210 44,358
28 Advertising ............................................ 30,675 2,9 88,563 277 ,970
48,60`7 175,296 2
29 Amounts contributed under pension plans ................ 25,146 1,703,491 20,344 90,547
43 ,670
8,821
2 , 531
33,070
15 , 866
16,938
11 , 881
9,103
4 , 191
10,608
5,012
57,878
13,794 12,391 37,104 3 z
30 Amounts contributed under other employee benefit plans. 17,098 566,233 9,448 1,354 3
2 ,354 70 7 , 287 1 ,206 606 321 1,261 1,150
31 Net lose, sales other than capital assets .............. 1,182 46, 819 10 ,7 2 9 3
735 ,736 381 , 498 332,117 792,905 1,170,784 , 2,212,418
32 Other deductions ....................................... 869,382 21,825,Z74 585,613 2, 703 , 589 1 122 , 171 632 , 924 1
3, 303,660 8,759,256 6,861,825 4,400,006 2,688,760 7,209,322 6,977,078 15,687,136 3

33 Total compiled deductions ........................ 14,040,940 220,366,258 6,267,0`73 29,024,621
1,302 321,753 479,655 216,238 364,484 184,608 917,116 630,708 2,289,792

34 Compiled net profit (16 less 33) ......................... 633,941 19,662,509 379 1-39 3
633,538 19,653,551 378 1 867 1,3011 554 321,699 479, 034 216 , 217 364 , 341 184 , 5~6 916 ,440 630,330 2,289,153
35 Net income (34 leas 6) ................................... 3
29,914 160,804 4,256 21,637 33 11,521 10,274 6 , 548 3 , 85G 2 ,448 7 , 941 10 ,787
36 Net operating loss deduction .............................
188,427 635,410 166,105 225,920 90,911 137,544 86,727 452,516 288,775 1,103,970
37 Income tax ............................................... 256,353 9,451,660
512 30Y899 602 3,553 1-3 411 231 158 1 80 584
1- -
817 1 , 138
38 Excess profits taxl...................................... 1
638,963 166,118 226s331 91,142 137,702 86,907 453$100 289,592 1 1,105,108

39 Total tax ........................................ 256,865 9,482,559 189,029
190,110 663,514 155,635 253,324 125,096 226,782 97,701 464,016 341,116 1,184,684
40 Compiled net profit less total tax (34 leas 39) .......... 377,076 10,179,950
Dividends paid: 31,357 229,490 1-37 683 816,315 4
69,411 5,699,478 1-17,289 351,023 102,163 131,947 28,683 78,047
41 Cash and assets other then oin stock ................... 71,2 81 21 , 151 24 , 789 4
38,817 459 14,858 7,841 7,703 5,329
42 Corporation's own stock ................................ 30,197 910,448 5,242
Cn
T.bl. IS.-INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Cond-d

Manufactu~ing-Continued
Fabri ated
metal cprod- Machinery,
It- except T~anspor- Motor Scientific
Stone, ucts , except Electrical
Petroleum Leather Primary tr.p.r_ tation vehicles instruments;
Ru bber lay , and ordnanc~, machinery Ordnance Other
and coal and metal tation equipment, e and photographic
products glass a machinery, and and mamufac-
products products industries and t, equipment except quipment, equipment;
product equipment except accessor as turing
portation and motor watches,
electrical vehicles electrical clocks
equipment
(24) 1 (25) 1 (26) 1 (27) (28) 1 (29) 11 (30) (31) 1 (32) 1 (33) (34) (35) (36)
1 Number of returns with net income ........................
432 544 1,621 2,844 2,139 7,497 7,025 2,439 677 688 45 1,205 5,999 1
( Th-d d.11...
Receipts:
2 Gross sales ............................................ 25,875,171 4,364,189 2,609,305 6,189,271 17,811,138 12,250,367 18,786,019 13,346,734 9,952,761 16,525,198 420,659 3,566,394 4,865,099
3 Gross receipts from operations ......................... 844 ,056 31 , 282 3 , 564 30 ,002 464,239 76,644 495,453 64,331 8-38,391 3,492 28,742 25,459 50,453
interest on Government obligations (less amortizable
bond premim):
4 Whollyttaxable ....................................... 27,233 3,336 623 7,980 18,329 5,343 14,077 9,033 2,089 31,994 362 3,072 1,525
5 Subjec to surtax only............................... 49 4 8 41 95 105 92 150 5 229 - 14 47
6 Wholly tax-exempt .................................... 1,475 8 49 457 402 974 462 882 99 125 77 23 166
7 Other interest ......................................... 32,958 3,427 985 3,869 17,422 5,079 18,442 13,177 7,?ll 16,034 229 3,019 2,487
8 Rent .................................................. 150,947 4,802 1,849 5,851 41,052 11,710 26,877 10,692 4,153 8,125
9 Royalties .............................................. 40,660 1,442 2,912 5,801
1,280 336 6,639 8,038 4,140 30,316 17,305 1-2,818 4,975 61
10 Net short-term capital gain reduced by net 1-g-term 394 8 3,853 2,494
27 172 557 190 549 538 48 43 1
capital loss. 69 94 1
11 Net long-term capital gain reduced by net short-term 62,853 1,885 853 11,087 22,307 21,878 23,321 19,2?7 5,547 24,854 1,297 4,301 11,485 L
capital loss.
12 Net gain, sales other than capital assets .............. 788 26 10 420 125 326 198 232 429 79 - 191 1 , 035 L
1 -3 Dividend s, domestic corporations ........................ 438,358 14,480 952 12,522 36,686 11,985 26,684 22,051 4,990 46,500 271 3,989 3,656 1
14 Dividends , foreign corporations .......... I ............. 1 34,335 24,365 2 19,874 7,420 21,097 35,301 18,593 4,279 75,080
15 Other receipts ......................................... 65,500 46 7,446 2,387 D
1 10 ,110 10 , 550 1 23 , 601 39 , 609 55 , 808 74,228 36,711 22,997 16,671 1,080 12,737 20,201 I~
16 Total compiled receipts .......................... 27,674,777 4,459,202 2,629,113 6,311,786 18,467,419 12,465,646 19,532,019 13,559,706 10,856,317 16,753,399 454,267 3,633,479 4,966,930 10
Deductions:
17 Cost of goods sold ..................................... 19,464,400 3,151,294 2,057,861 3,985,649 12,687,816 8,977,940 13,059,971 9,587,190 8,190,139 12,240,800 304,946 2,304 007 3,423 334 1r,
18 Cost of operations ..................................... 439,443 13,181 1,951 14,157 234,991 42,003 53,690 39,962 641,337 530 21,492 8:238 33:629 V
19 Compensation of officers ............................... 39,294 26,210 52,280 93,610 117 , 812 270 , 795 -309 , 722 121 , 623 44 , 975 49 , 0 96 4,588 53,747 156,880 IC
0
i Rent paid on business property ......................... 232,822 23,099 16,615 24,291 76,790 58,200 87,241 55,595 36,226 13 , 156 1 , 315 19 , 982 38 ,461
Repa irs ................................................ 399,168 70,691 13,956 2C
162,085 916,318 177,380 276,476 124,294 140,931 214,432 8,049 47,887
2 Bad debts .............................................. 12,670 ?,138 2,490 40 , 584 21
6,315 5,170 13,533 17,576 10,997 2,007 2,115 83 2,496 8,119 2~
3 Interest paid .......................................... 117,594 21,056 8,420 20,850 109,589 37,819 80,731 48,998 30,170 28,197 2,985 14,521
24 Taxes paid ............................................. 628,246 128,229 39,30`7 16,807 2--
lG6,272 347,409 181,508 325,969 294,803 159,177 404,669 7,511 76,653 80,528
5 Contributions or gifts ................................. 12 , 276 1 ,486 2 , 454 24
6 , 388 15 , 011 10,317 20,979 13,590 6,760 7,829 419 4,068
6 Depreciation and anorti.ation .......................... 945,619 93,371 4,174 25
21,602 210,758 952,408 230,763 478,119 258,157 131 , 087 350 , 177 9 ,045 77 , 880
7 Depletion .............................................. 1,138,761 217 80 , 603 2E
36 57,128 87,393 265 4,220 55 39 577 1,250 79
8 Advertising ............................................ 130, 88 6 54,601 32,678 2,987 27
48,627 64,239 134,148 205,253 2-30,519 24,285 47,007 3,408 73,379 76,266 29
9 Amounts contributed under pension plans..... .......... 243,943 26,279 8,756 49,743 245,741 70,566 170,557 lig,278 67,130 162,301 5,445 41,643
30 Amounts contributed order other employee benefit plans . 68 , 251 9 , 316 5 ,7 54 20,897 29
13,759 65,527 36,51? 54,238 40,280 29,022 55,261 689 21,784 9,947
1 Net loss, sales other than capital assets .............. 5,746 150 158 30
1 ,096 1 , 169 2,389 3,105 2,607 1,769 491 52 420 1,329
2 Other deductions ....................................... 2,131,336 521,270 235,074 31
692,016 921,162 1,250,411 2,501,043 1,411,784 505,315 855,234 35,852 452,800 642,222 32
3 Total compiled deductions ........................ 26,010,455 4,147,588 2,499,392 5,492,744 16,848,545 11,494,554 17,648,890 12,359,732 10,010,369 14,431,872 407,029 3,199,584 4,636,767 33
34 Compiled net profit (16 less 33) ......................... 1,664,322 311,614 129,721 819,042 1,618,874 971,092 1,983,129 1,199,974 845,948 2,321,527 47,238 433,895
5 Net income (34 less 6) ................................... 1 ,662, 847 311,606 129,672 330,163 34
818,585 1,618,472 970,118 1,882,667 1,199,092 845,849 2,321,402 47,161 433,872 329 997
6 Net operating loss deduction .................... ......... 2 , 108 1 , 285 3 ,981 35
4,790 4,058 7,052 9,182 11,607 22,128 2,357 3,579 2,110 7:272 36
37 Income tax ............................................... 656,250 154,537 60,411 405,455 812,168 467,532 934,066 595,937 422,808 1,176,571 22,043 218,065
38 Excess profits taxl...................................... 130 156 322 149,512 37
418 1,356 1,855 4,656 3,286 8,941 966 93 580
. 453 38
3 Total tax ........................................ 656,380 154,693 60,733 405,873 813,524 469,387 938,722 1 599,223 1 431,749 1 1.177.537 1 22.136 218,645 149,965 39
40 Compiled net profit less total tax (34 less 39) .......... 1,007,942 156,921 68,988 413,169 805,350 501,705 944,407 600,751 414,199 1,143,990 25,102 215,250 180,198 40
Dividends paid:
41 Cash and assets other than own stock ................... 1,021,430 84,174 28,118 214,361 442,489 216,932 420,976 322,284 156,382 610,661 7,403 93
42 Corporation's own stock ................................ 410,426 2,726 57,135 41
2,783 42,949 26,974 21,406 63,218 18,249 51,767 3,585 187 58 10,479 42
~nd of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data."
Table 18.-INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued
Major industrial graup-Continued
Public utilities Trade
Wholesale Retail
Item,
Total Electric Other
TrVinspor- Commuxii- Total
public and gas public
tra d e Total Commission Other Total General Apparel and
tation cation utilities utilities Food
utilities wholesale merchants wholesalers retail merchandise accessories
(43) (45) (46) (47) (48) (49)

(37) (38) (39) (40) (41) (42)
1,185 1 143,432 1 50,788 6,617, 44,171 80,003 6,287 4,833 11,133 1

1 Number of returns with net income ........................ 17,436 12,590 2,713 948
1 1 1
(7h-..d d.11...
Receipts: 66,563,372 66,983,196 18,888,919 15,901,813 4,418,030 2

236,805 1,768,697 145,488 7,591 143,521,445 69,270,813 2,707,441
2 Gross sales .................. .......................... 2,158,581
1,016,560 510,156 51,303 68,100 34,436
33,858,165 16,129,049 6,535,296 10,966,112 227,708 2,370,431 1,679,834 663,274
3 Gross receipts from operations .........................
bond premium): 8,346 10,935 862 7,268 784 4
Wholly taxable ....................................... 39,317 23,038 10,618 5,501 160 21,265 9,492 1,146
4 - 95 76 28 16 7 f
5 Subject to surtax only............................... 1,086 378 690 16 2 198 95
70 1 ,785 570 21 549 1,171 634 92 82 E
6 Wholly tax-exempt................................... : 880 497 100 213
2,356 -,
91,698 48,850 11,058 31,0`79 711 144,896 59,097 7,466 51,631 79,735 4,862 28,233
7 Other interest ........................................
343 236,781 68,631 4,057 64,574 149,713 11,722 61,028 22,185 E

8 Rents .................... . . ............................ 366,043 303,608 40,416 21,676
60 31,699 27,744 2,072 25,672 2,536 481 235 283 S
9 Royalties .............................................. 26,329 15,362 8,439 2,468
4,091 2,309 363 1,946 1,516 65 28 56 1(
10 Net short-term capital gain reduced by net long-term 3,256 2,065 1,097 93 1
capital loss. 54,937 62,613 11,285 19,569 2,309 11
73,366 9,371 16,378 3,758 127,730 57,747 2,810
11 Net long-term capital gain reduced by net short-term 102,873
capital loss. 5,466 381 410 348 1;
16,405 2,282 408 173 10,482 4,462 112 4,350
12 Net gain , sales other than capital assets .............. 19,268
28,436 2,202 12,897 4,662 1-
73,966 28,749 16,142 1,801 73,717 40,169 7,407 32,762
13 Dividends, domestic corporations ....................... 120,658
69,335 9,583 6 8,905 641 li
2,292 9,029 - 79,042 69,413 78
14 Dividends, foreign corporations ........................ 13,410 2,089
653 , 862 44 , 728 168,598 73,200 1-1
94,696 7,045 1 104,971 2,150 1 ,148 , 887 434 , 631 56 , 241 378 , 390
15 Other receipts ......................................... 208,862 1 1 1
.
8,426,150 11,319,574 244,528 147,772,449 71,725,007 3,452,488 68,272,519 68,498,994 19,017,478 16,277,192 4,559,379 1(
16 Total compiled receipts .......................... 37,010,426 17,020,174 1
Deductions: 15,316,814 10,420,928 2,855,668 Y

1,418,043 100,501 4,317 115,639,391 59,864,848 2,497,571 57,367,277 50,023,341
17 Cost of goods sold ..................................... 1,656,699 133,838
28,550 18,223 12,746 11
3,148,131 5,459,204 90,235 1,129,490 848,830 216,461 632,369 225,948
18 Cost of operations ..................................... 19,906,296 11,208,726
101,850 101,576 121,021 11
49,026 5,841 2,235,827 1,022,424 107,735 914,689 1,058,858
19 Compensation of officers ............................... 271,693 190,228 26,598
164,872 327,226 221,178 2(
54,419 1,483 1,442,182 287,231 19,813 267,418 1,089,986
20 Rent paid on business property ......................... 741,850 585,986 99,962
58,836 57,297 12,367 2:
5,147 1,032 341,621 108,578 3,237 105,341 208,084
21 Repairs ................................................ 79,679 35,461 38,039
137,040 7,433 33,448 12,110 Z
19,884 15,195 360 250,485 95,319 4,637 90,682
22 Bad debts .............................................. 40,643 5,204
605,086 20,960 339,708 165,375 8,166 157,209 156,069 18,656 44,248 9,944 2:
23 Interest paid.......................................... 1,130,497 330,415 174pO36
23OiO49 52,468 2,
1,284,664 513,855 15,805 498,050 689,976 136,804
24 Taxes paid............................................. 2,214,540 839,403 474,556 876,739 23,842
10,620 3,164 2 .'
21,24-4 169 52,491 19,978 1,135 18,843 30,072 5,893
25 Contributions or gifts ................................. 6,851 5,102 9,122
141,019 153,508 47,139 21
22,760 1,023,842 349,690 14,158 335,532 601,059
26 Depreciation and amortization .......................... 3,078,163 1,215,088 582,906 1,257,409
164 11 Z
43 16,670 13,385 506 12,879 2,295 203
27 Depletion .............................................. 65,388 24,411 41 40,893
410,335 114,637 21
324 1,461,782 375,639 18,158 357,481 1,006,642 127,000
28 Advertising ............................................ 132,384 72,638 34,950 24,472
225,865 79,947 7,277 72,670 136,866 36,856 75,671 4,945 2

29 Amounts contributed under pension plans ................ 417,722 63,829 217,938 133,622 2,333
4,794 2,397 34
61,660 22,103 1,223 20,880 37,322 18,252
30 Amounts contributed under other employee benefit plans. 107,031 24,197 49,957 32,562 315
499 2 82 31
93 9,339 3,582 731 21851 4,348 1,022
31 Net loss, sales other than capital assets .............. 7,021 2,556 748 3,624
3,413,415 1 929,800 3~
17,898,289 6,160,205 417,712 5,742,493 10,760,122 2,426,926_
32 Other deductions ....................................... 2,428,843 1,047,189 794,995 565,11,- 21,547
1 1
195,654 143,414,006 69,930,989 3,334,325 66,596,664 18,590,986 15,302,001 4,399,877 3
33 Total compiled deductions ........................ 32p299,693 15,786,020 7,085,886 9,232,133 66,1L2~_
,
48,8?4 4,358,443 1,794,018 118,163 1,675,855 2,330,966 426,492 975,191 159,502 3

34 Compiled net profit (16 less 33) ......................... 4,710,733 1,234,154 1,340,264 2,087,441
975,099 159,420 3
48,804 4,356,658 1,793,448 118,142 1,675,306 2,329,795 425,858
35 Net income (34 less 6) ................................... 4,709,853 1,233,657 1,340,164 2,087,228
3,467 5,514 3
658 82,003 37,250 4,282 32,968 37,245 5,451
36 Net operating loss deduction ............................. 31,903 20,737 1,659 8,849
1,052,255 21,434 1,890,522 758,290 43,828 714,462 1,039,508 205,188 484,663 62,472 3
37 Income tax ............................................... 2,308,655 558,552 676,414
130 40 3
15 2,320 1,158 80 1,078 1,011 352
38 Excess profits tax~l ...................................... 546 140 336 55
1
21, 1,892,842 1 759,448 43,908 1 715,540 1, 040, 519 205,540 484,793 1 62,512 3
39 Total tax ........................................ 2,309,201 558,692 676,750 1,052,310
2,465,601 1,034,570 74,255 960,315 1,290,447 220,952 490,398 96,990 4

40 Compiled net profit less total tax (34 less 39) .......... 2,401,532 675,462 663,514 1,035,131 27,4215
,
Dividends paid: 28,081 41
15 608 870,572 317,502 17,675 29918 06 292,282
41 Cash and assets other than own stock .................. 2,020,914 448,703 509,023 1,047,58WO
8,071 5,197 42
118,913 ~1 794 76
42 Corporation's own stock ................................. 39,891 11,137 1 6,894 20,592 1 268
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data. -I
TWde IS-INCOMr. STATEMENTS, BY MAJOR INDUSTRL&L GROUP-Coatim.W
Trad e-Continued Finance, insurance, real estate, and lessors of real property
Retail-Continued Finance
Iten Total finance,
inourance,2
Automotive Building Tr de not real estate Security and
Furnitur: - Eating and Other FL-k, and Credit Holding and
dealers and Drug materials allocable
a and lessors Total commodity-
and how drinking retail agencies other
filling stores of real fin- e truste. hange
furnishing. places trade other than brokers
exc
BUtiOnS hardware
and property compani investment and
banks companies dealers
(50) (51) (52) (53) (54) (55) (56) (57) (58) (59) (60) (61) (62)
1 Number of returns with net income ........................ 7,495 1 13,149 1 3,975 1 7,732 1 10,433 1 14,966 12,641 138,764 34,208 13,792 14,155 5,098 1,173 1
1 1 1 1 1 1
(Th--d d.11...
Receipts:
2 Gro :: reales ............................................ 2,3Z7,489 13,660,576 1,467,305 1,726,754 4,064,896 4,527,414 7,267,436 149,722 9,477 - 2,962 6,515 -
3 Gro eceipts from operations ......................... 34,336 160,418 10,920 37,662 32,748 80,233 180,441 11,0172,976 2,388,797 895,435 1,168,616 53,068 271,678
bond premium):
4 Wholly taxable....................................... 360 544 151 213 397 356 838 1,731,243 1,356,349 1,320,649 12,390 11,940 11 370 4
5 Subject to surtax only ............................... 4 - - 3 12 6 27 95,382 90,749 89,211 122 56 1,360
6 Wholly tax-exempt.................................... 135 82 8 19 30 89 44 370,144 253,569 237,932 1,135 3,596 10,906 E
7 Other interest......................................... 6,064 22,165 422 751 6,887 7,995 6,064 7o2lO,583 4,702,808 3,746,617 865,297 85,689 5,205 "1
8 Rents .................................................. 4,736 21,108 5,314 5,631 7,358 10,631 18,437 2,617,005 165,311 142,185 8,073 14,082 971 E
9 Royalties .............................................. 38 193 57 644 356 249 1,419 176,477 48,694 2,644 17 45,947 96 S
10 Net short-term capital gain reduced by net long-tem 88 943 30 27 126 153 266 44,326 37,746 26,964 1,534 7,905 1,343 1C
capital loss.
11 get long-tem capital gain reduced by net short-term 1,478 12,250 998 3,636 6,005 5,083 7,370 931,894 733,312 416,461 25,879 284,884 6,088 11
capital loss.
12 Net gain, sales other than capital assets .............. 209 1,703 8 473 1,307 627 554 575,638 134,971 11,173 3,387 6,192 114,219 1.2
13 Dividends, domestic corporations ....................... 964 2,002 1,602 1,065 11698 1,344 5,112 1,122,266 744,216 40,635 24,437 667,268 1.1,876 13,
14 Dividends, foreign corporations ........................ 1 17 - - 10 3 46 47,496 43,188 206 9,089 33,510 383 14
15 Other receipts ......................................... 120o600 1 101,004 11,743 10,967 47,819 75,203 60,394 324,198 186,262 85,622 42,819 43,958 13,663 ill
1 1 1
16 Total compiled receipts.......................... 2,496,502 13,983,005 1,498,558 1,787,845 4,169,649 4,709,386 7,548,448 26,469,350 10,695,449 7,015,934 2,165,757 1,264,610 449,148 1E
Deductions:
17 Cost of goods sold ..................................... 1,506,425 11,648,565 1,000,425 899,346 3,128,313 3,24,6,857 5,751,702 99,478 6,457 - 1,362 5,095 - 17
18 Cost of operations ..................................... 5,661 77,327 3,387 l7o785 22,086 40,183 54,712 3,333,975 169,942 549 21,537 8,688 139,168 18
19 Compensation of officers ............................... 101,618 224,255 42,601 64,614 139,924 161,399 154,545 1,2G4,313 745,927 571,435 96,447 21,332 56,713 19
20 Rent paid on business property......................... 58,479 98,152 46,259 77,254 25,012 71,554 64,965 316,779 126,173 77,259 3?,220 3,415 So279 2C
21 Repairs................................................ 6,9179 22,001 5,163 19,385 10,970 15,086 25,159 170,151 38,216 34,052 2,786 685 693 21
22 Bad debt .............................................. 19,154 21,469 487 505 17,123 25,31.1 18,126 380,905 367,643 240,023 126,349 574 697 22
23 Interest paid.......................................... 11,630 34,145 2,326 4,501 14,871 15,748 18,264 2,130,108 1,708,574 1,12-1,630 549,502 31,769 15,673 23
24 Taxes paid............................................. 29,960 86,709 l8o625 36,494 44,336 54,531 80,833 1,022,155 288,158 224,742 42,800 12,781 7,835 24
25 Contributions or gifts ................................. 1,516 3,116 844 902 1,961 2,056 2,441 37,972 24,534 18,665 2,852 2,298 719 25
26 Depreciation and amortization .......................... 19,181 80,245 16,587 41,047 41,517 60,816 73,093 721,550 159,334 130 o Yn 21,590 4,693 2,674 26
27 Depletion.............................................. 71 519 25 55 1,163 84 990 67,807 26,239 511 187 25,471 70 27
28 Advertising............................................ 76,773 1.51,576 18,123 13,832 29,756 64,610 79,501 179,790 122,528 84,993 32,159 811 4o565 28
30 Amounts contributed under other employee benefit plans. 984 4,409 747 2,030 -1,787 1,922 2,235 48,021 23,753 20,160 2,710 246 637 30
31 Net lose, sales other than capital assets .............. 336 1,066 116 280 239 508 1,409 34,218 29,971 28,776 579 444 172 31
32 Other deductions ....................................... 566o455 1,273,829 291,998 1 536,825 532,952 787,922 1 977,962 7,883,013 2,952,749 1 2,021,334 647,453 1 154,710 129,252 32
33 Total compiled deductions ........................ 2,406,528 13,733,515 1,450,190 1,717,597 4,014,448 4,552,886 7,314,989 17,806,066 6,933,678 4,687,887 1,598,918 Z75,082 371,791 33
34 Compiled net profit (16 less 33) ...... 89,974 249,490 48,368 70,249 155,201 156,500 233,459 8,663,284 3,961,771 2,328,047 566,839 989,528 77,357 34
35 Net income (34 less 6) ................ 89,839 249,408 48,360 70,229 155,171 156,411 233,415 8,293,140 3,708,202 2,090,115 565,704 985,932 66,451 35
36 get operating lose deduction ............................. 3,974 3,722 860 6,151 2,554 5,552 7,508 79,323 26,322 1.1,595 8,096 3,667 2,964 36
37 Income tax ............................................... 32,486 97,164 19,726 25,965 56,56 55,283 92,724 2,093,547 1,235,436 877o661 250,009 84,812 22,954 37
38 Excess profits taxI...................................... 30 61 36 20`7 57 98 151 643 274 81 188 - 5 38
39 Total tax ........................................ 32,516 97,225 19,762 26,172 56,618 55,381 92,875 2,094,190 1 1,235,710 877,742 1 250,197 94,912 22,959 39
40 Compiled net profit less total tax (34 less 39) .......... 57,458 152,265 28,606 44,0`76 98,583
: 101 119 140,584 6,569,094 1 2,726,061 1,4 01305 316,642 904,716 54,398 40
Dividends paid:
41 Cash and assets other than own stock ................... 11,358 35,217 10,591 11,562 22 179 22 : 311 38,383 2,003 1,495,975 521,402 185,601 778,801 10,171 41
42 Corporation's own st~ock................................ 3,062 10,649 1,249 564 6 540 2,970 5,591 180 150,258 98,394 23,858 25,794 2,212 42
.
Table 18.-INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP--Continued

Finance, insurance, real estate, and
lessors of real property-Continued Services
insurance cazriers2and agents Real estate, Nature of

Item Autc- Miscel-
except Lessors business
Hotels motive laneous Amusment, Other net
Total lessors of of real
Insurance Total and other Personial Business repair repair Motion except servicesp allocable
insurance Insurance2 real property,
services lodging services services services services, pictures motion including
cazrierS2 carriers agents and property except
brokers places and hand pictures schools
and agents other than buildings
garages trades
buildings
1
(63) (64) (65) (66) (67) (68) (69) (70) (71) (72) (73) (74) (75) 1 (76) (77)
1,
1 Number of returns with net income ........................ 9,572 2,638 6p934 91,706 3,278 34,682 3,620 7,122 9,434 3,433 1 1,704 3,183 2,934 3,252 855 1
1 1 1 1 1 1 1
(77.-.-d d.11.. .
Receipts:
2 Gross sales ............................................ 63,823 60,975 2,848 66,504 9,918 1,251,919 474,365 205,133 201,273 92,696 92,316 80,999 47,524 57,613 23,247 2
3 Gross receipts from operations ......................... 7,100,100 6,447,064 653,036 1,577,035 7,044 8,438,135 775,251 1,231,044 2,900,886 347,437 187,354 1,670,970 605,225 719,968 50,408 3
bond premim):
4 Wholly taxable ........................................ 367,622 366,999 623 5,936 1,336 4,035 480 343 993 so 16 869 571 683 86 4
5 Subject to surtax only ............................... 4,558 4,550 8 72 3 9 1 2 2 1 - 1 1 1 2 5
6 Wholly t~-exempt .................................... 115,237 115,187 50 1,198 140 1,311 49 32 1,071 63 - 16 29 51 18 6
7 Other interest......................................... 2,441,464 2,437,571 3,893 63,972 2,339 12,84-8 3,239 1,146 2,438 774 106 3,930 842 373 807 7
8 Rents .................................................. 240,915 237,350 3,565 2,112,448 98,331 225,944 111,174 3,343 26,738 .30,800 1,354 42,757 6,488 3,290 1,324 8
9 Royalties .............................................. 215 47 168 4,301 123,267 24,715 7 653 10,131 411 32 8,132 4,151 1,198 119 9
10 Net short-term capital gain reduced by net long-term 1,261 1,171 90 5,164 155 1,436 87 92 995 60 104 55 30 13 574 10
capital loss.
11 Net long-term capital gain reduced by net short-term 62,766 57,405 5,361 lls,m 16,923 38,812 11,760 3,692 8,165 5,411 568 4,376 3,506 1,334 3,930 11
capital loss.
12 Net gain, sales other than capital assets.............. 1,775 1,609 366 438,058 634 4,375 654 419 1,427 105 3 70 1,639 58 805 12
13 Dividends, d ome stic corporations ....................... 341,603 334,680 6,923 33,195 3,252 25,072 3,830 1,792 12,341 691 5 5,380 746 287 219 13
14 Dividends, foreign corporations ........................ 3,455 2,052 1,403 662 191 8,875 15 - 1,931 - - 6,768 1 160 36 14
15 Other receipts ......................................... 38,059 24,519 13,540 92,773 7,104 1 109,383 15,424 6,253 1 22,065 5,037 1 1,279 39,305 1 9,778 10,242 1 3,040 15
16 Total compiled receipts .......................... 10,783,053 10,091,179 691,874 4,520,211 270,637 10,146,869 1,396,336 1,453,944 3,190,456 483,566 283,137 1,863,628 680,531 795,271 84,615 16
1
Deductions:
17 Cost of goods sold ..................................... 51,233 49,086 2,147 34,368 7,420 730,634 260,693 106,1_36 137,306 59,251 59,674 44,997 26,024 36,553 16,212 17
18 Cost of operations ..................................... 2,707,574 2,598,984 108,590 454,622 1,837 4,606,322 292,258 71-1,900 1,677,275 164,770 124,864 1,147,440 307,224 380,591 16,826 18
19 Compensation of officers ............................... 174,629 56,214 118,415 277,111 6,646 451,236 29,397 86,557 177,516 23,971 19,082 35,522 28,233 50,958 8,548 19
20 Rent paid on business property ......................... 71,425 51,476 19,949 116,465 2,716 313,435 66,277 42,167 55,606 31,786 5,198 69,048 23,391 19,962 1,217 20
21 Repairs ................................................ 4,266 3,136 1,130 125,098 2,571 115,477 47,852 16,347 14,990 5,254 1,419 15,445 9,755 4,415 479 21
22 Bad debts .............................................. 5,630 2,212 3,418 7,595 37 17,160 2,973 3,649 3,906 833 855 1,608 958 2,378 231 22
23 Interest paid .......................................... 12,395 10,741 1,654 384,463 24,676 74,020 25,430 6,395 11,571 8,109 665 15,431 3,951 2,468 1,371 23
24 Taxes paid ............................................. 223,333 213,032 10,301 484,973 25,691 241,956 61,315 31,859 40,053 13,470 4,762 41,967 34,768 13,762 2,184 24
25 Contributions or gifts................................. 3,710 2,436 1,274 9,410 318 9,327 1,623 1,431 2,299 329 72 1,088 1,881 604 61 25
26 Depreciation and amortization.......................... 90,414 80,975 9,439 455,265 16,537 412,713 81,512 51,884 100,607 66,894 5,794 63,366 28,950 13,706 1,971 26
27 Depletion .............................................. 227 220 7 1,700 39,641 973 160 252 47 127 5 1 378 3 207 27
28 Advertising ............................................ 20,207 l2o696 7,51.1 36,972 83 159,640 23,944 22,617 23,061 3,898 2,812 55,904 15,427 11,9177 866 28
29 Amounts contributed under pension plans ................ 25,921 20,408 5,51-3 5,938 490 45,362 2,911 2,820 26,909 436 266 4,483 927 6,610 70 29
30 Amounts contributed under other employee benefit plans. 21,434 19,894 1,540 2,673 161 13,413 3,833 2, 771 2,880 347 599 1,186 530 1,067 22 30
31 Net loss, sales other than capital assets .............. 1,483 981 502 2,732 32 3,892 240 334 693 911 34 1,188 414 78 18 31
32 Other deductions ....................................... 3,767,555 3,449,431 318,124 1 1,137,859 24,852 1 1,961,855 389,600 285,183 1 681,932 68,918 1 43,431 198,202 1 111,516 183,073 1 18,583 32
33 Total compiled deductions........................ 7,181,436 6,571,922 609,514 3,5.37,244 153,708 9,357,415 1,290,018_ 1,372,502 2,956,651 449,304 269,532 1,696,676 594,3Z7 728,205 68,866 33
34 Compiled net profit (16 less 33) ......................... 3,601,617 3,519,257 82,360 982,967 116,929 789,454 106,318 81,442 233,805 34,262 13,605 166,752 86,204 67,066 15,749 34
35 Net income ( 34 less 6) .................................. 3,486,380 3,404,070 82,310 981,769 116,789 788,143 106,269 81,410 232,734 34,199 13,605 166,736 86,175 67,015 15,731 35
36 Net operating loss deduction............................. 9,964 8,268 1,696 40,747 1,290 28,642 3,818 4,105 5,651 1,610 734 5,126 4,390 3,208 818 36
37 Income tax ............................................... 489,183 460,380 28,803 318,763 50,165 324,432 43,273 29,685 96,381 11,682 4,977 73,475 38,027 26,932 4,895 37
38 Excess profits tax ....................................... 46 15 31 294 29 1,485 138 227 264 52 14 512 199 79 - 38
1
39 Total tax........................................ 489,229 460,3 5 28,834 1 319,057 1 50,194 1 325,917 43,411 29,912 1 96,645 11 734 4 991 73,987 38,226 27,011 1 895 39
40 Compiled net profit less total tax (34 less 39) .......... 3oll2,388 3,058,86~ 53,:1
19, 2: 6 463,537 62,907 151,530 137,160 92,765 47, IY78 40,055 10,854 40
Dividends paid:
41 Cash and assets other than own stock................... 297,076 277,5' ;a 66:: N)6
15 9 I0 1 596:7
161
35 156,469 20,296 3 43 3 44,882 45,348 19,500 9,136 2,696 41
42 Corporation's own stock ................................ 18,521 14,705 3,816 1 15,585 3,278 11611
, 2,449 3,021 2,300 1,363 150 42
'The excess profits tax law te~w~ted Dec. 31, 1433. Excess profits tax tabulated for this report was the tax on income earned before that date and reported on returns for annual accounting periods ended July through November
1954 and returns for part years which began in 1953.
2For treatment of life and mutual Insurance companies, see text, p. 17.
NOTE: See text for explanatory statements and for -Description of the Sample and Limitations of Date."
Tabl. 19.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP
Item All a Total

Farms and Bitumi ous Crude
J..petro-
industri 1 agriculture miTotal Anthra- coal
agricul- Metal and and Nonmetallic
groups forestry, Forestry Fishery ning and cite
tural mining lignite natural gas mining and
and quarrying mining
services mining production quarr7'ng
fishery
(1) (2) (3) (4) (5) (6) (7) (a) (9) (10) (11)
I Number of returns with balance sheets and with 419,679 4,272 4,004 150 118 1 4,005 1 213 1 57 442 2 , 014 1 , 279 1
net inc- -
Asset.:
2 Cash,**----**_-_*
and ... * ............. 76,086,421 165,556 153,912 10,450 1,194 79Oo353 198,713 12,914 105,138 315,551 158,037 2
3 Note. .c.unts receivable ................. 147,688,470 402,785 391,979 9,521 1,285
Less: 1,165,895
- 231,721 13,325 194,623 580,255 145,971 3
4 Reserve for bad debts ................ 2,116,734 2,879 2,876 3 - 6,929 230 589 1,146 2,383 2,581 4
5 Inventori es ................................... 54,834,777 184,110 176,692 6,490 928 510,083 142,547 . 6,279 66,405 207,467 87,385 5
6 Prepaid expenses and supplies ................. 1,760,285 16,519 l6oO14 346 159 73,000 28,871 195 14,868 20 , 195 8 , 871 6
7 States, Territories, and United States 17,322,074 7,934 7,191 718 25 29,462 8,552 300 13,687 4,184 2,739 7
possessions.
8 United States obligations ................... 104,092,817 99,458 93,413 4,045 2,000 699,562 394,657 19,183 99,701 148,029 47,992 8
9 Not stated .................................. 4,608,317 - -
1,257 1,257 9,083 2,122 23 1, c)" 2,367 2,627 9
10 Other investments ............................. 131,759,256 216,367 206,289 8,412 1,686 909,683 328,789 72,218 186,534 235,474 86,668 ic
11 Depreciable assets ............................ 230,825,198 868,374 838,249 15,348 14,777 5,624,756 944,868 40,115 940,565 2,8% 320 802,888 11
12 Less: Accumulate d amortization ............. 3,374,591 2,430 2,430 - - -
83,515 38,860 3,540 3,270 37,945 12
13 Less: Accumulated depreciation ............. 78,151,472 383,036 369,451 9,333 4,252 2,666,724 467,213 27,774 434,533 1,374,835 362,369 13
14 Depletable assets ............................. 7,028,152 83,902 -
9,005 74,897 1,682,679 594,449 2,649 238,629 723,587 123,365 14
15 1,ess: Accumulated depletion ................ 3,064,320 -
21,162 2,464 18,698 873,315 357,566 1,444 91,360 381,559 41,386 15
116 Land .......................................... 8,663,383 262,203 252,061 9,707 435 109,355 13,930 3,964 8,214 59,018 24,229 16
7 Inta ngible assets ............................. 1,273,573 5,505 5,490 - 15 36,228 1,952 2 567 31,709 1,998 17
18 Other assets .................................. 14,294,971 35,714 32,687 2,831 1% 150,231 57,019 , 448 16,676 , 53,825 22,263 18
19 Total asset ............................... 713,530,577 1,940,197 1,807,018 114,731 18, "8 8,159,887 2,074,321 141,808 1,356,972 3,515,934 1,070,852 19
Liabilities:
20 Accounts payable .............................. 31,317,2% 151,290 145,223 4,543 1,524 522,195 160,305 18,210 73,167 202 , 210 68 , 303 20
21 Maturity less than I year ................... 17,791,911 122,522 118,028 355 4,139 216,147 8,620 2,114 51,843 122,884 30,686 21
22 Maturity I year or more ..................... 72,373,142 179,370 158,783 18,064 2,523 601,910 55,452 3,888 146,671 336,638 59,261 22
23 Reserves for estimated expensea l .............. 992,287 4,198 4,187 - 11 10,379 1,331 63 1,836 3,321 3,828 23
24 Prepaid incone l ............................... 367,589 2,662 - -
2,645 17 4,686 8 427 3,891 360 24
25 Accrued expenses .............................. 18,028,323 62,550 54,518 7,568 464 481,400 167,230 2,886 38,632 232,086 40 , 566 25
26 Other liabilities ............................. 319,733,566 113,193 110,577 2,330 286 216,106 50,525 2,370 19,091 111,227 32 , 893 26
27 Capital stock preferred ...................... 13,468,408 24,131 21,970 2,093 68 177,405 52,436 8,031 40,976 54,844 21,118 27
28 Capital stock : common 2 ........................ 77,809,164 606,982 555,757 43,781 7,444 1,430,399 378,189 33,813 193,970 578,520 245 , 907 28
29 Surplus reserves .............................. 10,846,064 26,428 24,545 1,796 87 202,822 48,510 4,593 33,567 47,187 68,%5 29
30 Surplus and undivided profits ................. 150,800,827 646,871 610,785 1 34~201 1,885 1 4,296,438 1,151,715 1 65,840 756,792 1 1,823,126 498,%5 30
31 Total liabilities ......................... 713,530,577 1,940,197 1,807,018 114,731 18,"8 8,159,887 2,074,321 141,808 1,356,972 3,515,934 1,070,852 31
Receipts:
32 Gross sales ................................... 383,824,906 1,408,087 1,362,103 30,244 15,740 4,978,928 1,123,434 73,172 1,044,463 11,728,174
, 000, 1,C)O 685 32
33 G ross rece i p t s f rom opera ti ons ................ 72,632,147 314,180 307,399 1,378 5,403 1,194,633 52,880 25,090 56, 943 291 9 :429
59 33
34 Wholly taxable .............................. 1,975,260 l,q74 1,820 118 36 10,117 4,712 213 1,862 2,521 809 34
35 Subject to surtax only...................... 95,555 53 53 - - 40 16 11 7 3 3 35
36 Wholly tax-exempt ........................... 381,261 153 148 5 - 670 99 - 240 152 179 36
37 Other interest ................................ 7,607,606 4,561 4,362 199 - 10,515 3,811 191 2,195 3,661 657 37
38 Rents ......................................... 3,797,705 15,135 14,685 230 20 16,149 2,194 169 4,246 6,672 2,868 38
39 Royalties ..................................... 512,196 5,153 5,075 78 - 26,177 3,521 103 620 18,612 3,321 39
40 Net short-term capital gain reduced by net 60,306 163 159 4 - 1,279 254 1 63 920 41 40
41 Net long-term capital gain reduced by net 1,771,993 21,549 13,661 7,748 140 60,557 6,702 685 15 , 928 33 , 314 3, 928 41
short-tem capital loss.
42 Net gain, sales other than capital assets ..... 605,913 1,504 954 253 297 1,809 28 20 33 1,659 69 42
43 Dividends, domestic corporations .............. 2,230,743 3,506 3,149 357 - 60,132 19,592 11,600 7,357 20,597 986 43
44 Dividends, foreign corporations ............... 606,464 3,783 3,781 2 - 1,421 87 2 93 1,239 - "
45 Other receipts ................................ 2,712,656 21,054 20,532 501 21 30,692 2,162 1 293 5,643 1 16,759 5,835 45
46 Total compiled receipts ................... 478,814,711 1,800,855 1,738,081 41,117 21,657 6,393,119 1,219,492 111,550 1,139,693 2,834,574 1,087,810 46
Deductions:
47 Cost of goods sold ............................ 290,065,620 1,080,799 1,045,265 23,394 12,140 2,900,456 642,473 63,460 748,338 857,748 588,439 47
48 Cost of operations ............................ 41,934,492 148,248 145,006 339 2,903 724,967 38,696
Compensation of officers ...................... 15,793 44,899 591,764 33,815 48
49 7,263,676 41,666 40,064 903 699 74,874 5,813 1,226 10,607 30,476 26, 752 49
50 Rent paid on business property ... ............ 3,958,523 33,077 32,793 35 249 27,955 1,016 436 6,233 15,532 4, 738 50
51 Repairs ..................................... 1. 4,471,908 26,928 26,358 29 541 100,126 15,630 1,328 28,096 23,185 31,887 51
52 Bad debts ..................................... 879,565 1,986 1,924 18 5,050 286 72 761 2,284 1 , 647 52
53 Interest paid.. ............................... 4,606,091 12,898 ll,%2 772 164 29,380 2,906 217 6 , 928 15 074 4 255 153
54 Taxes paid .................................... 10,815,110 27,911 26,556 991 364 161,563 44,168 1,343 26,452 60 : 932 28 :668 54
55 Contributions or gifts ........................ 306,840 1,058 1,042 1
14 2 4,691 440 92 584 2,561 1 , 014 55
56 Depreciation and amrtization ................. 11,547,106 59,486 58,051 606 829 337,413 ",940 2,768 53,994 177,025 58 , 686 56
5? Depletion..................................... 2,089,346 2,116 1,603 513 - 522,183 109,761 519 33,976 313,622 64,305 57
58 Advertising ...................... . 4 926,384 11,100 11,053 1 46 9,986 238
Amounts contributed under pension * plan........ 68 1,601 5,056 3,023 ~58
59 .... *-- 21653,229
' 3 , 304 3 , 293 11 - 87, 136 8 , %7 1 , 796 52 , 866 10,3 ,3 511 59
60 Amounts contributed under other employee 815,955 1,352 1,335 13 4 8 , 910 1 , 010 272 3 , 814 2 , .93
'6 :72
1
benefit Plana.
61 Net loss, sales other then capital assets ..... 103,745 - -
289 289 3,069 94 5 252 2,332 386 61
62 Other deductions .............................. 52,858,682 175,739 170,708 1 2,800 2,231 1 461,480 59,172 7,791 73,5271 211,991 108,999 . 62
63 Total compiled deductions ................. 439,296,272 1,627,957 1,577,302 30,439 20,216 5,459,241 975,610 97,186 1,092,928 2,332,031 961,486 63
64 Compiled net profit (46 less 63).. ........... 39,51-F-
439 172,898 160,779 10,678 1,441 933,878 243,882 14,364 46,765 502,543 126,324 64
65 Ne t In com e (64 l e ss 36) ........... : .............. 39,137,178 172,745 160,631 10,673 l'"i 933,208 243,783 14,364 46,525 502,391 126,145 65
66 Net operatin g loss deduction .................... 423,874 9,511 8,4% 182 833 14,274 1 284 370 1,260 9,302 2,058 66
b7 Incom tax ...................................... 16,gZ-5-
,457 64,997 61,256 3,513. 228 423 6% 111,080 1,858 15,775 235,768 59,215
68 Excess pro fi ts taX 3 ............................. 36,828 56 56 - - 1 1250 - 5 -
67
, 1,171 74 68
69 Total tax ................................. 16,682,285 65,053 61,312 3,513 T-
228 424,9461 111,080 q_PAQ 1 -
70 Compiled net profit less total tax (64 less 69)- 22,836,154 107,845 99,467 508 932 1 132,802 12 , 501 ~ 30 , 990 - 2 86 0:
5 4604
6 71 67 , 7C
Dividends paid:
71 Cash and assets other than own stock .......... 11,526,838 48,150 43 851 4,297 2 71 147 7,040 32,375 4 71
721 Corporation ' s own stock ....................... 1,311,537 2,534 2 : 534 - t!
1 I - 1 1 - 1,352 1-1
1
See footnotes at end of table. See text for explanatory statements and for '-Description of the Sample and Limitations of Data.-,
ACTIVE CORPORATION INCOME TAX MURNS-1954 ill

Table 19-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued
Manufacturing
manuft.-T-
I
Lumber
Item Apparel and
Construction and wood Furniture Paper and
T Food and Tobac a Textile-mill products
verages kindred products~ pallied
fac,cle products made from except and
products manu fixtures roducts
fabrics furniture
0--
(13) (15) (16) a (17) (18) 1 (19) (20) (21)
(12) (14)
6,436 1 108 3,147 7,437 3,470 2,593 1,969 1

I Number of returns with balance sheets and with 20,522 72,998 1,676
L
net income. (7h-.-d ~bll -)
Assets:
954,101 14,496,420 338,036 1,143,050 113,578 562,167 357,550 322,657 162,223 577,394 2
Cash...... ....................................
1,088,221 754,726 483,756 3",552 682,042 3
Notes and accounts receivable ................. 3,027,406 25,350,156 472,496, 1,701,228 530,216
15,924 15,303 10,130 8,849 16,935 4
Less: Reserve for bad debts ................ 18,861 591,261 8,224 35,878 2,969
Inventories ................................... 685,382 35,634,131 963,584 2,892,274 1,908,474 1,734,518 9,6,420
7 712,766 401,820 923,685 5
Prepaid expenses and supplies ...... 26,191 956,711 24,129 108,343 10,772 27,256 11,251 27,593 6,684 33,468 6
:*--*-
Investments, Government obligatians
I States, Territories, and United States 15,541 323,748 8,385 16,217 1,441 28,836 1,504 4,130 1,908 13,215 7
possessions.
3 United States obligations ................... 129,557 11,006,841 129,481 483,221 11,744 247,408 38,477 189,894 67,891 525,192
Not stated .................................. 11,416 322,602 4,236 71,392 714 18,767 5,696 10,219 5,324 7,375 9
Other investments ............................. 535,640 15,614,577 167,197 809,694 61,225 533,771 147,721 230,798 77,447 863,671 IC
Depreciable assets ............................ 1,870,411 98,156,085 1,772,730 6,623,783 345,296 3,911,914 563,805 1,666,715 566,198 4,625,232 11
2 Less: Accumulated amortization ............. 10,110 2,222,100 1,088 6,570 - 9,579 2,211 4,324 1,801 28,865 12,
3 Less; Accumulated depreciation ............. 902,862 42,243,609 640,430 2,947,135 158,502 1,647,428 257,405 771,758 248,149 1,862,352 1`
4 Depletable assets ............................. 33,345 4,327,625 4,728 8,819 - 1,959 956 378,097 8,483 216,601 1A
5 Less: Accumulated depletion ................ 9,678 1,798,544 221 2,892 - 322 178 34,939 1,992 39,745 1!
6 Land .......................................... 97,243 2,157,640 61,367 253,238 10,408 53,499 17,953 71,615 22,530 86,685 1E
7 Intangible assets ............................. 8 346 532,287 18,553 57,279 6,171 9,570 7,118 3,127 1,012 3,778 11,
8 Other assets .................................. 253,804 2,820,030 99,957 1 215,899 15,885 96,568 63,503 81,9G6 1 26,468 152,6341 1E
1
9 Total assets .............................. 6,706,872 164,843,339 3,414,916 11,391,962 2,854,453 6,641,201 2,671,583 3,362,122 1,431,749 6,763,075~ 1~
Liabilities:
Accounts payable ...................... I ....... 1,252,836 13,843,801 314,543 925,479 83,170 459,766 486,982 223,080 145,422 312,355 2(
Maturity less than 1 year.. ....... z ... 428,558 4,735,284 105,453 628,560 393,816 309,889 210,203 169,921 60,079 111,818 21
1
Maturity 1 y ar or more ........ . ........... 413,047 18,353,880 470,589 1,105,822 637,993 558,926 138,974 199,856 76,776 851,957 2,
2
3 Reserves for estimated expenses'.. ............ 19,061 603,724 6,443 30,540 1,688 19,655 5,785 7,004 5,850 16,637 2-
4 Prepaid incomel ............................... 38,005 122,806 8,084 3,852 8 558 532 8,068 316 907 V
5 Accrued expenses .............................. 289,396 9,866,678 169,097 632,380 199,920 271,333 142,649 155,687 91,279 400,771 2!
6 Other liabilities ............................. 1,259,006 6,962,536 113,701 371,199 10,482 136,777 102,486 108,248 63,412 162,220 2(
7 Capital stock, preferred ...................... 105,581 5,920,102 172,422 629,042 220,921 343,636 128,288 68,082 41,252 316,350 2'
8 Capital stock, common2 ........................ 813,262 30,328,391 393,595 2,327,366 490,562 1,180,587 507,183 748,812 292,229 1,186,130 V
9 Surplus reserves .............................. 70,978 5,003,905 49,106 412,641 61,234 161,566 28,735 56,419 23,162 194,561 2~
0 Surplus and undivided profits ................. 12,017,142 69,102,232 1,611,883 1 4,325,081 754,659 3,198,508 919,766 1,616,945 , 631,972 3,209,369, 3(
1 Total liabilities ......................... 6,706,872 164,843,339 3,414,916 111,391,962 2,854,453 6,641,201 2,671,583 3,362,122 1 1,431,749 6,763,075 31
Receipts:
i2 Gross sales ................................... 2,435,615 229,864,864 6,571,163 29,929,717 3,584,186 8,919,890 6,826,097 4,453,124 2,801,686 7,832,63, 3;
13 Gross receipts fro. operations ................ 11,827,065 3,984,707 10,964 105,064 2,076 142,335 167,287 62,364 5,947 18,669 Y
1
~(less amortizable bond premium):
Wholly taxable .............................. 2,265 186,369 2,124 7,762 205 4,852 777 2,844 1,204 12,118 3,
14
Subject to surtax only...................... 27 1,433 10Z 39 1 148 2 15 10 148 3'
15
16 Wholly tax-exempt ........................... 403 8,897 272 923 54 621 21 143 32 676 3(
P Other interest ................................ 7,145 188,411 5,042 14,207 683 7,455 1,913 3,954 1,924 7,590 3'
18 Rent.......................................... 30,8_30 369,355 3,707 20,432 1,075 14,145 4,503 9,135 2,017 8,633 3~
~9 Royalties ..................................... 1,111 227,091 2,587 7,810 141 4,264 7,057 2,658 373 4,241 31
~O Net short-term capital gain reduced by net 333 5,943 51 249 22 758 262 390 1 136 4(
~1 Net long-term capital gain reduced by net 30,282 481,544 4,781 23,131 763 15,308 3,397 145,089 3,466 36,509 4:
~2 Net gain) sales other then capital assets ..... 2,426 10,823 591 1,008 2 519 187 1,866 79 91 4;
~3 Dividends, domestic corporations .............. 15,760 829,874 2,601 14,860 1,294 8,289 1,366 5,173 957 14,036 4:
~4 Dividends, foreign corporations ............... 3,182 449,488 943 29,825 532 2,348 198 30 1,563 5,621 4,
1.5 Other receipts ................................ 137,929 748,610 18,866 73,334 2,702 33,383 20,689 31,771 . 16,961 33,706. 4
'.6 Total compiled receipts ................... 14,494,373 237,357,409 6,623,794 30,228,361 3,593,736 9,154,315 7,033,756 4,718,556 1 2,836,220 7,974,811 4,
Deductions;
1,7 Cost of goods sold ............................ 1,972,043 167,510,865 4,151,256 24,G95,400 1,976,063 7,219,871 5,449,262 3,409,920 2,068,598 5,415,566 4'
1,8 Cost of operations ............................ 10,011,261 2,091,161 2,272 31,661 903 80,346 127,377 40,249 1,664 97551 4
19 Compensation of officers ...................... 428,805 2,611,729 44,844 205,194 8,451 122,331 188,046 81,934 73,575 97,811 4
50 Rent paid on business property................ 44,965 1,080,031 14,976 97,839 2,099 35,240 56,241 14,849 20,723 32,120 54
51 Repai~a ................. I ..................... 56,897 3,595,417 43,313 253,675 5,722 89,588 13,025 41,436 18,403 191,820 5
52 Bad debts ..................................... 12,468 176,321 5,453 18,714 1,122 5,672 7,665 6,400 4,738 4,566 5
53 Interest paid ................................. 32,754 890,908 22,006 79,919 29,154 37,030 18,887 17,196 7,321 34,322 5
54 Taxes paid .................................... 145,840 5,768,351 953,066 326,911 956,080 139,067 81,212 79,800 40,610 130,132 5
55 Contributions or gifts ........................ 8,368 172,655 4,158 12,370 895 7,761 5,160 2,785 2,781 9,470 5
56 Depreciation and amortization ................. 225,279 5,748,425 100,982 366,473 16,059 192,731 42,143 115,824 35,537 236,855 5
57 Depletion..................................... 4,602 1,411,472 792 1,543 - 282 110 137,315 96 11,020 5
58 Advertising ................................... 30,254 2,969,645 277,721 609,082 146,578 67,615 70,359 18,667 36,883 44,990 5
59 Amounts contributed under pension plans ....... 25,021 1,681,424 20,343 90,398 8,821 32,886 16,738 9,040 10,510 56,881 5
60 Amounts contributed under other employee 17,008 560,883 9'"0 43,636 2,531 15,699 11,734 4,152 4,952 13,708 6
benefit plane .
61 Net loss, sales other then capital assets ..... 1,175 46,413 10,729 2,342 70 7,282 1,145 601 316 11253 6
62 Other deductions .............................. 855,240 21,578,197 583,776 1 2,694,243 121,019 626,882 1 730,363 377,910 1 328,041 783,71011 6
63 Total compiled deductions ................. 13,871,980 217,893,897 6,245,127 28,929,340 3,275,567 8,680,283 6,819,467 4,358,078 2,654,748 7,073,775, 63
64 Compiled net profit (46 less 63) ................ 62-2,393 --T9-
,463,512 378,667 1,299,021 318,169 474,032 214,289 360,478 181,472 901,0367 6
65 Net income (64 less 36) ......................... 621,990 19,454,615 378,395 1,298,098 318,115 473,411 214,268 360,335 181,440 900,360 6
66 Net operating loss deduction.................... 29,224 158,189 4,256 21,518 33 10,976 10,030 6,421 3,673 2,289. 6
67 Income tax ...................................... 251,778 9,355,073 188,217 633,921 164,252 223,575 90,387 136,120 85,244 444,629 6
tax3 .............................
68 Excess profits 476 30,172 601 3,536 13 411 231 153 178 584, 6
69 Total tax ................................. 252,254 9,385,245 1 '188,818 637,457 1 164~265 223,986 90,618 136,273 5, 22 5,213 6
70 Compiled net profit less total tax (64 Less 69). 370,139 10,078,267 189,849 661,564 1 153
1 250
131 46 123,671 224,205 96,050 455,823
Dividends paid:
71 Cash and assets other than own stock .......... 68 968 5,690,708 117,260 350,617 10 T2 . :8
0 15 28 , 551 77,576 31,034 227,853 7
72.1 Corporation's own stock ....................... 30,197
1 908,778 5,242 38:817 :7
4599 7 580 7,703 5,329 71,2811 7
~ee footnotes at end of table. See text for explanatory statements and for "Description of the Semple and Limitations of Data."
112 ACTIVE CORPORATION INCOME TAX REvrURNS-1954
Table 19-BALANCE SHICSTS AND RELATZD INOOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Coatim.,d

Fabricated
metal prod- Machinery,
Item texcept
publ
Printing, Stone, ucts, except
Chemicals Petroleum Leather Primary 8 Electrical
i8hing , Rubber cloy , ordnance , ranspor-
and allied and and metal machinery
and allied products and glass machinery tation
products products
coal products 1 ndustrie and
industries products and trans ' equipment
equipment
Portation and
equipment electrical
(22) 1 (23) (24) 1 (25) 1 (26) (27) (28) _~~(29) (30) (31)
1 Number of returns with balance heet. and ith 9,146 "

4 .2 2,783 2,085 7,393 1 6,861
net income. 2,391 1
(7h-- d d.11 ...
C h
Assets:
2 C~a 690,437 1,369,179 1 587,119 204,995 136 191 553,814 1,288,947 864,969 1 64 773 719 022
3 to.'a;~*'..Q~'*r;c able 914 053 1,844,993 3:258,598 729,963 320:935 719,785 1,606,103 1,286,346 2:597
9 :233 1,796:579
4 Less: Reserve for bad debt. .. 33 103 47,868 174p751 14,068 6,701 19,007 35,755
5 Inventories ................................... 601,3"
28,434 53,284 25,743 4
2,739,409 2,495,425 418,507 5
6 Prepaid expense. and supplies ................. 39,077
793,262 806,890 2,930,266 2,021,408 4,198,792 2,440,879
73,838 237,969 7,823 4,843 47,836 107,789 37,086 43,447
Investments, Government obligations: 28,014
7 States, Territories, and United States 28,974 24,891 29,192 685 2,351 14,603 27,164 13 , 300
possess i ons. 18 , 423 68 , 321
8 United States obligations ................... 264,625 1,395,506 1,806p839 132,781 31,641 418,596 1,231,567
9 Not stated .................................. 281,402 814 916 747,031
24,771 7,187 2,713 374 2,067 51,343
10 Other investments ............................. 9,300 15,472 66 477 5oll3
547,166 1,912,121 4,919,523 179,317 137,900 436,010 1,001,289 431,942 966,385 869,274 11
11 Depreciable assets ............................ 2,388,809 10,454,171 22,243p564 1,516,366 351,517 3,434,891 14,564,717 3,618,306 6,516,286 3,056,316 1
12 Less: Accumulated amortization ............. 6,640 441,961 265,599 27,548 888 55o5O5 939,536 36,029 179o354 85,002 L
13 Less: Accumulated depreciation ............. 988,421 4,188,011 10,391 , 420 752 , 199 172 p 417 1 , 428 , 182 6 , 433 , 425 1, 487,571 2,620,895
14 Depletable assets ............................. 6,937 136,514 1,040,773 1
2,615,266 584 436 101,526 808 , 410 11 , 931 6 , 830
15 Leas: Accumulated depletion ................ 3,632 57,434 2 , 608 1-
Land .......................................... 1,131,805 361 208 35,204 475,376 1 , 887 3 , 955
16 116,051 1 ,410 1
190,938 487,325 16,356 11,594 76,717 166,555 121,571
17 Intangible assets ............................. 126,727 162,574 57,603 11
72,821 75,228 2,746 1,988 8,511 16,140 14,037 19,862
1S Other assets ........................ . . . . ...... 6 , 221 1'
188,821 215,441 . 327,574 15,644 23,053 61,057 206,396 1 139,677 203,164 158,0191 11
19 To t a l asse ts .............................. 4,905,996 15,701,835 1 28,122,760 2,806,720 1,262pSO9 5,193,681 16,080,551 1 7,303,526 14,406,674 8,802,072 11
-
Li a bili t i es:
20 Accounts payable .............................. 409,413 920,147 2,525,433 258,032
- - 144,830 314,007 1,093,462 578,834 1,138,202 1,039,225
Bonds, notes, mortgages payable: 2(
21 Maturity less than 1 year ................... 155,260 254,974 184,165 49,943 75,294 90,162 231,631 305pO85 325,108
22 Maturity 1 year or more . .................... 336,191 2,118,943 538,965 2:
3,928,158 573,789 97,108 464,179 2,520,988 477,027 1,578,878 937,420
23 Reserves'for estimated expenseal.............. 21 , 728 131 , 574 2;
24 Prepaid incomel ...............................
69, 006 2 , 161 2 , 874 23,524 37,388 36,903 60,592 46,559 2:
29,658 1 ,316 40 , 947 526 52 2,622
25 Accrued expenses .............................. 1,342 5,162 10,729 1,646 2,
323,503 1,170,131 738,441 190,501 73,609 355,869 1,054,264
26 Other liabilities ............................. 410,503 907,831 749 , 325 2!
316,225 488,160 350,787 112,751 32,431 145,987
27 Capital stock , preferred ...................... 449,443 356,376 639,492 349,579 2(
231,065 871,830 325,975 112,179 52,306 139,466
28 Capital stock , coozonn2 .. ...................... 754,335 2,441p514 7,615,625
727,410 237,491 477,475 208,264 2'
316,201 233,944 1,142,860 3,051,794 1,363,643 2,711,133 1,382,046
29 Surplus reserves ...... ........................ 152,690 332,733 2f
842,867 95,218 61,198 172,995 334,392 130,561 494,387
30 Surplus and undivided profits ................. 2 , 175 , 928 6 , 970 , 513 299,076 2~
11 , 501 , 356 1 1 ,095 ,419 489 ,164 1 2,342,010 6,578,437 3,401,9411 6,062,947 3,249,967.1 3C
31 Total liabilities ......................... 4,905,996 1
15,701,835 28,122,760 2,806,720 1,262,809 5,193,681 16,080,551 7,303,526 14,406,674 8,802,072 31
Recei pts:
32 Gross sales ................................... 6,921,749 17,320,610 24,845,102 4,329,416 2,581,737 6,160,819 17,719,794 12,170,885
33 Gross receipts from operations ................ 479,248 18,667,251 13,251,717 3;
65,793 843,352 31,274 3,564 29,123 463,131 75,301
Interest on Government obligations 494,841 64,327 31
(less amortizable bond premim):
34 Wholly taxable .............................. 6,173 23p964 27,227 3,334 622 7,903 18,306 5,245 14,045
35 Subject to surtax only ......... . .. .......... 76 8,986 34
53 49 4 8 41 95 105 92
36 Wholly tax-exempt ........................... 378 150 31,
639 1,475 8 49 427 402 974 462
37 Other interest ................................ 4,308 882 3E
18,070 31,822 3,426 984 3,823 17,412 5,054 18,409
38 Rents ......................................... 16 , 218 13,174 37
16 , 755 149 ,172 4,801 1,751 5,828 41,004 11,666
39 Royalties ................................... . . 26,838 10,602 3~
14,409 51,055 40,571 1,265 306 6,636 8,037 4,140
~O Net short-term capital gain reduced by net 30,315 17,096 39
loO63 362 394 8 27 164 557
long-term capital lose. 189 545 538 4C
Net long-term capital gain reduced by net 14,191 26,676 62,687 1,869 848 11 , 014 22 , 279 21 , 846 22,258 19,245 41
'
.2 Net gain, sales other than capital assets ..... 2,187 437 788 26 10 420 125 326 195 232
0 Dividends, domestic corporations .............. 22,515 136,312 438,262 42
14,480 952 l2o371 36,385 11,985 26,676
~4 Dividends , foreign corporatio no ............... 5,068 53,135 134,335 22,051 43
24,365 2 19,874 7,420 21,097 35,301 18,593 44
~5 Other receipts ................................ 67, 056 63, 653 . 65 , 256 9 ,962 10,415 23,474 39,412 1 55,304 73p505 36,2871 45
,6 Total compiled receipts .................... 7,554,639 17,777,514 26,640,492 4,424,238 2,601,275 6,281,917 18,374,359 1 12,384,117 19,430,733 13,463,880 46
Deducti ons:
7 Cost of goods sold ............................ 4,763p747 10,808,071 18,784,006 3,129,847 2,037,949 3,966 703 12,631,246 8,921p614 12,99Op440 9,521,323
a root of operations ............................ 259,365 15,716 47
439,443 13,181 1,951 13:578 234,125 41,117 53,324
9 Compensation of officers ...................... 246 , 766 213 , 293 39,962 48
38 , 349 25 , 979 51,914 93,026 117,203 269,192 306,864
0 Rent paid on business property ................ 73,043 65,713 120,233 49
221,800 23,049 15,624 24 , 199 74 , 934 57 , 820 86 , 916
1 Repairs ....................................... 35,197 55 ,320 50
336,285 395,065 70,055 13,871 161,354 906,350 175,662 275,808
2 Bad debts ..................................... 18,966 1.22 , 612 51
12,838 12,543 7pO87 2,439 6,257 5,163 13,508 17,473
3 Interest paid ................................. 22,187 10,934 52
89,530 116 , 997 20 , 966 8 , 356 20, 832 109,557 37,690 80,401
4 Taxes paid.................................... 106,351 49,833 53
222,081 596,921 127,632 38,804 105,634 345,603 180,275 324 , 206 293 , 171 54
5 Contributions or gifts ........................ 9,839 12,490 11,882 1,435 2,447 6,371 14,998 10,294 20,9314 13 , 534
,6 Depreciation and amortization ................. 125,891 725,206 910,492 55
92,470 21,311 209,821 950,655 229,701 476,421
7 Depletion........................ 157 55 , 489 1 , 051 , 933 256,859 56
217 36 56,822 87,227 265 4,219 55
8 Advertising .................... 43,893 540,601 127,519 57
52,805 32,038 48,549 64,102 133 , 063 204 , 464 227 , 507
9 Amoun t s contr i buted under pension plane ....... 58
48,101 174,125 229,658 25,963 8,729 49,732 244,884
oO Amounts con t r ibut e d und er o ther employee 70,518 169 , 928 119 , 033 59
12,291 36,977 65p352 9,123 5,710 13,663 65,495
benefit plane. 36,455 53,960 40,132 60
I Net loss, sales other than capital assets ..... 1,150 1,342 5,744 103 158 1,096 1,169 2,389
2 Other deductions .............................. 1,161,330 2,872 2 , 595 61
2,194,812 2,012,141 1 515,932 231,590 688,544 917,975 1,243,5" 2,491,725 1,403,231[1 62
3 Total compiled deductions ................. 6,928,284 l 5o5G4,569 25,019,745 4,115,8" 2,472,927 5,466,181 16,770,686 11,423,127 12,275.334 63
4 Compiled net profit (46 less 63) ................ 626,355 2,272,945 1,620o747 308,394 128 348 815,736 1,603,673
5 Net income (64 less 36) . . ....................... 960,990 1,870,778 1, 1888, 546 64
625,977 2,272,306 1,619,272 308,386 128:299 815,309 1,603,271
Met operating loss deduction .................... 960,016 1,870,316 1,197,664 65
7,631 10,488 2,108 1,285 3,964 4,790 3,862 6.978 11 382 66
7 Income tax ............ 286,975 1,095,922 633,701 152,895 59,859 403,926 804,724 462,550 928,571
Excess profits tex3......... . . ................... 785 1,138 590 , 158 67
130 156 314 400 1,356 1,855. 4,581 1 3,092 68
9 Total tax ................................. 287,760 1,097,060 633,831 153,051 60,173 404,326 806,080 464,405 933,152 593.250 69
0 Compiled net profit less total tax (154 less 69). -338,595 1,175,885 996,916 155,343 68,175 411,410 797,593 496,585
Dividends paid: 937,626 595,296 70
71 Cash and assets other than own stock .......... 136 911 81i 469 1,021,430 84,059 28,079 214,036 442,345
72 Corporation's own stock ............. .......... 216,572 420,490 321 , 628 71
211151 24 789 410,426 2,726 2,783 42, 649 26,974 21,406 63 218 17,977, 72
rootnotes at end of table. ';as text for explanatory statements "A for "Description
of the Smple and Limitations of Data."
ACTIVE CORPORATION INCOME TAX RLTrURNS-1954 113
Table 19.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued
Manufacturing-Continued Public utilities
Transpor- Scientifi
Item tati on Motor c
)rdnan ce a instruments; Other Other
vehicles and I. Electric
equipmant I photographic Total public Transpor- Communi-
equipmen t , an d manufac- a nd g as public
except equipment utilities tation cation
except c essorie turing utilities utilities
motor watches,
electrical
vehicles clocks
(32) (33) (34) (35) (36) (37) (38) (39) (40) (41)
1 Number of returns with balance sheets and with 653 684 44 1,190 1 5P906 16p3O4 12pO01 2,333 888 1,082 1
net income.
Assets:
2 Cash .......................................... 614,816 663,591 25,035 223p105 328,772 3,197,528 1,734,502 302,064 1,120,436 40,526 2
3 Notes sand accounts receivable ................. 1,813,251 1,243pl35 25,312 529,213 60`7,420 3,048,935 1,481,444 450,155 1,066,230 31,106 3
4 Les : Reserve for bad debts ................ 4,542 8,563 430 9,240 15,560 37,514 8,521 5p368 22,818 80`7 4
5 Inventories ................................... 2pO47,598 2,000,422. 60,195 769p826 796,367 2,216,087 675,250 523,257 1,003,200 14p380 5
6 Prepaid expenses and supplies ................. 25,998 21,798 1,728 13,062 17,007 265,400 72,516 120,109 69,522 3,253 6
7 States, Territories, and United States 3,603 4,007 2,051 4,191 6,356 28,088 21,974 1,084 3,185 1,845 7
possessions.
8 United States obligations ................... 209p585 lp658,953 16,798 215,955 87,338 2,555,954 1,160,473 1, 056, 077 330,478 8,926 8
9 Not stated .................................. 1,519 739 2,035 1,152 8,617 90,600 88,041 1,313 1,014 232 9
10 Other investments ............................. 131p772 901,714 llp319 133,322 143,999 4p789,173 2,924pl72 464,802 1,273,034 127,165 10
11 Depreciable assets ............................ 1,779,901 5,866,353 82,611 1,088p552 1,118,052 89,475,938 29,581,949 17,500,642 41,222,223 1,171,124 11
12 Less: Accumulated amortization ............. 31,002 56,203 3,555 30,877 8,063 847,537 711,448 10,471 119p621 5,997 12
13 Less: Accumulated depreciation .............. 838,969 2,383,371 37, V70 467p520 480,206 20, (Y78, 562 7,399,941 4,645,251 7,840,515 192,855 13
14 Depletable assets.... ......................... 571 5,736 - 4,650 5p983 141,431 45,358 6,446 89,320 307 14
15 Less: Accumulated depletion... 163 3,159 - 2,606 1,055 69,491 28p364 2p192 38,896 39 15
16 lend ............................. 48,040 59p3G8 2,682 26,561 36,470 488p649 199,491 35,672 231,862 21,424 16
17 Intangible assets ............................. 2,450 64,594 55 7,523 6p776 91,021 56,091 22,278 10,481 2,171 17
18 Other assets .................................. 66p351 378,049 1 2,625 23,260 58pO79 I 2,108p317 957,993 1 479,345 642pO28 28,9511 18
19 Total assets .............................. 5,87Op679 l0p417,103 191,391 2,530p129 2,716,352 87,464,017 30,850,980 16,300,162 39,061,163 1,251,712 19
Liabilities:
20 Accounts payable .................. I ........... 979,446 1,036,302 19p881 162,948 272,842 2,538,766 1,490,424 322,606 703,639 22,097 20
Bonds, notes~ mortgages payable:
21 Maturity less than 1 year ................... 225,343 54,745 5,811 91,541 157,518 862,860 281,220 60,568 449,202 71,870 21
22 Maturity I year or more ..................... 434,760 472,988 8,413 203,587 160,558 32,018,947 8,678,828 4,917,798 17,884,539 537,782 22
23 Reserves for estimated expensesl .............. 32,368 6,449 413 2l,lY7 17,446 90,724 43,689 3,869 42,209 957 23
Prepaid incomel ................. 865 914 - 1,122 3,581 17,668 12,456 2,331 2,045 836
24 24
25 Accrued expenses ................ 383p327 1,010,298 21,767 227,851 186p342 3,641,708 957,651 1,028,866 1,618,255 36,936 25
26 Other liabilities ............................. 1,223,204 1,111,372 12,298 197,026 108,880 2,910p974 1,480,117 732,345 634,382 64,130 26
27 Capital stock, preferred ...................... 92,044 365p423 7p668 50,234 101,279 4,397,439 655p651 224,790 3,423,314 93,684 ~7
28 Capital stock, common2 ........................ 544,474 674,051 24,446 448,462 497,397 2lp259,758 6,435,363 6,090,769 8,504,873 228,753 28
29 Surplus reserves .............................. 153pl38 818p391 3p643 73,081 52,111 1,066,151 366,146 26,733 663,915 9,357 29
30 Surplus and undivided profits ................. lp801,710 4,866,170 87pO49 1,053,140 lpl58,398 l8p659,022 10,449,435 2,889,487 . 5,134,790 185,310 3o
31 Total liabilitie .......................... 5,870,679 10,417,103 191p391 2,530,129 2,716,352 87,464,017 30,850,980 16,300,162 39,061p163 1,251,712 31
Receipts:
32 Gross sales ................................... 9,803,824 16,475,389 325,303 3,525,497 4p827p271 2pl54,114 233p768 1,768,567 144,347 7,432 32
33 Irross receipts from operations ................ 812,039 3p492 28p742 25,321 50,453 33,647,833 25,997o203 6,520,157 10,912,138 218,335 33
Interest on Goverment obligations
(less amortizable bond premitun):
34 Wholly taxable .............................. 1,910 31,849 332 3,066 1,521 39,162 22,935 10,609 5,491 127 34
35 Subject to surtax only...................... 5 229 - 14 47 1,086 378 690 16 2 35
36 Wholly tax-exempt ........................... 99 125 77 23 135 869 497 100 206 66 36
37 Other interest ................................ 7,606 16,034 165 2,90`7 2,449 90,635 47,912 11,049 30,972 702 37
38 Rents ......................................... 4,134 8,065 214 2p9O8 5,752 363,533 301,168 40,408 21,626 331 38
39 Royalties ..................................... 12,767 4,975 61 3,853 2,474 26,293 15p328 8,439 2,466 60 39
40 Net short-term capital gain reduced by net 20 43 1 69 94 3,256 2,065 1,097 93 1 40
41 Net long-term capital gain reduced by net 5o531 24p848 114 4,301 11,393 99,603 72o881 9,317 16,346 1,057 41
42 Net gain, sales other than capital assets.. ... 429 79 - 191 1,035 19,257 16,395 2p281 408 173 42
43 Dividends~ domestic corporations .............. 4,988 46,500 176 3,989 3,656 120,389 73,710 28,749 16,129 1,801 43
44 Dividends, foreign corporations ............... 4p279 75,080 46 7,446 2,387 13,410 2,089 2,292 9,029 - 44
45 Other receipts ................................ 22,748 16,575 762 1 12,711 20,078 208,033 94,339 6,626 . 104,951 2,117 . 45
46 Total compiled receipts ................... lo.68o,379 l6p703,283 355,993 3,592,296 4,928,745 36,787,473 16,880,668 8,410,381 11,264,220 232,2G4 46
Deductions:
Cost of goods sold............................ 8,057,145 12,203,075 240,600 2p274,232 3,394,931 1,653p660 131,932 1,418,031 99,516
47 4,181 47
48 Cost of operations ............................ 621,633 530 21,492 8,152 33,629 19,783,659 11,130,535 3,140,489 5,426,720 85,915 48
Compensation of officers ...................... ", 556 48,720 3,937 53,312 156,199 268,116 197,685 26p112 48,520 5,799
49 49
Rent paid on business property ................ 36,115 13,092 1,131 19,265 37,923 738pO56 583,115 99,794 54,246
50 901 50
51 Repairs ....................................... 140,901 214,183 3,590 47,159 40,353 79,351 35,182 38,002 5,147 1,020 51
Bad debts ..................................... 2,003 2,115 55 2,490 8,100 40,370 5,060 19,838 15,115 357
52 52
53 Interest paid................................. 29,668 28,166 1,299 14oO38 16,553 lpl25,195 328,179 173,895 602,558 20,563 53
.
54 Taxes paid .................................... 155,688 403,856 5p681 75,609 79,961 2p2O2,330 832,251 473,813 973,258 23,008 54
55 Contributions or gifts ........................ 6,619 7,814 419 4,065 4,134 21,179 6,822 5pO94 9,094 169 55
56 Depreciation and amortization ................. 130,a76 349,612 6pO41 77,269 79,996 3,058,096 1,201,845 581,697 1,252,185 22,369 56
57 Depletion........................ : . 39 577 314 79 2,985 64,701 23,993 41 40,624 43 57
58 Advertising ...................... . 24,146 46,985 2,842 73,285 75,951 131,708 72p242 34,844 24,298 324 58
59 Amounts contributed under pension plane ....... 67,109 162,219 3,391 41,599 20,828 414,385 61olO'7 217,894 133,102 2,282 59
60 Amounts contributed under other employee 28,931 55,091 660 21,309 9,882 106,125 23,532 49,937 32,366 290 60
benefit plane.
61 Net loss, sales other than capital assets ..... 1,767 490 52 420 1,328 7,000 2,541 746 3,620 93 61
62 Other deductions .............................. 501,902 854,485 26,957 450,142 637,923 2,412,879 1 1,035,337 793o266 1 563,144 21,132 62
Total compiled deductions ................. 9~848,298 14,391$010 318,461 3,162,415 4,600,676 32,106,810 15,661,358 7,073,493 9,183,513 188,446 63
63
64 Compiled net profit (46 less 63) ................ 832,081 2,312,273 37,532 429,881 328,069 4,680,663 1,219,310 1,336,888 2,080,70`7 43,758 64
65 Net income (64 less 36) ......................... 831,982 2,312,148 37,455 429,858 327,934 4,679,794 1,218,813 1,336,788 2,080,501 43,692 65
66 Net operating loss deduction .................... 22,102 2,357 3,579 2ollO 7,268 31,003 20,031 1,637 8,682 653 .66
67 Income tax ...................................... 415,673 1,171,780 17,351 216,035 148,608 2,295,206 551,936 674,811 loO48,957 19,502 67
68 Excess profits tax3 ............................. 8,941 594 93 580 450 519 139 310 55 15 68
69 Total tax ................................. 424,614 1,172,374 17,444 216,615 149,058 21295,725 552,075 675,121 1,049,012 19,517 , 69
70 Compiled net profit less total tax (64 less 69). __74_0_7_,Z;'7_ __1_,_
13_9_pU9_9 ____
20_,_CU 2-13,266 ___f7_
9,011 ---2_,_
38_4,_9_NT 667,235 661,767 1,031,695 24,241 70
Dividends paid:
71 Cash and assets other than own stock .......... 155,131 610,659 7,403 93,136 57,035 2oOO3,963 446,975 508,869 1,032 71
72 1 Corporation's own stock ....................... 3,585 1 187 1 39,891 1 11,137 1 6, 4 1
51,767 58,329 9p342 2C 1 ,72
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data. I-
114 ACTIVE CORPORATION INCOME TAX MURNS-1954
Table 19-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Ccma...d
Trade
Wholesale Retail
Item
Apparel Furniture Automotive

Total trade T Other Total Food General dealers and
wholesale
otal ~ Gace=rc'hs&8nit0sn wholesalers and and house-
retail merchandise fi lling
accessories furnishings
stations
(42) (43) (44) (45) (46) (47) (48) (49) (50) (51)
1 Number of returns with balance sheets and with 137 374 _ 49,438 6,352 43,086 75,893 5,871 4,635 10,771 7,233 12,783 1
net income. -
(7b-.-d ~b l I...
Assets:
2 Cash .......................................... 5,613,437 2,327,873 244,795 2,083,078 2,984,894 603,803 980,127 265,465 124,720 "4,204 2
3 Not :.and accounts receivable ................. 14,686,887 7,846,667 652,570 7,194,097 5,917,037 365,275 2,086,199 499,597 726,785 763,672 3
4 L: : Reserve for bad debts ................ 441,791 166,645 10,169 156,476 247,396 6,818 136,873 13,242 28,527 17,621 4
5 Inventorie .................................... 15,075,792 7,068,016 141,535 6,926,481 7,166,586 1,019,190 2,387,106 749,241 388,761 974,698 5
6 Prepaid expenses and supplies ................. 264,224 84,943 3,654 81,189 167,675 38,592 61 , 462 11 , 775 5 , 754 20 , 530 6
7 States, Territories, and United States 42,919 22,154 528 ~1,626 18,990 2,255 7,029 3 , 082 550 2 , 186 7
possessions.
8 United States obligations ................... 1,176,911 471,208 59,472 411,736 666,268 49,840 503,999 36,824 10,977 20,908 8
9 Not stated .................................. 65,545 36,073 2,405 33,668 26,414 2,080 4,376 4,433 2,681 5,669 9
10 Other investments ............................. 3,388,486 1,816,389 197,002 1,619,387 1,428,114 196,177 575,853 147,126 76,842 162,324 10
11 Depreciable assets ............................ 13,039,144 4,159,197 149,395 4,009,802 7,994,840 1,648,628 2,855,237 579,850 208,922 869 , 804 11
12 Less; Accumulated amortization ............. 81,731 33,070 614 32,456 45,051 8,712 11,709 4,261 1,525 5 , 923 12
13 Less: Acc umu1:ted . depreciation ............. 5,374,517 1,674,440 59,855 1,614,585 3,314,602 658,639 1,167,250 265,483 90,029 316 , 363 13
14 Depletable asset , .;. ... *: ... ::: 148 590 121,525 3,941 117,584 22,223 4,585 1,368 1,173 258 3 , 829 14
15 1,ess: Accumul t d d pl ti n.. .... ... 66:644 57 602 1 919 55 683 7,507 1,355 293 643 152 1,308 15
16 land ........ 1,140,000 292:945 11 , 298 281,647
' 757,745 106,304 300,385 30,170 25,315 151 , 905 16
17 Intangible a ;; e t8 .......... ..: .......
....... 118,603 40,510 5,781 34,729 71,078 11,11.2 19,729 5,220 1,518 3 , 444 17
18 Other assets .................................. 1,100,002 499,730 45,820 453,910 547,563 . 101,024 133,409 45,903 31,690 104,017J 18
19 Total assets .............................. 49,895,857 22,855,373 1,445,639 21,409,734 24,154,871 3,473,341 8,600,154 2,096,230 1,484,540 3,185,9751 19
Liabilities:
20 Accounts payable .............................. 8,363,420 4,766,776 356,931 4,409,845 3,054,153 655,092 864 , 919 340 , 809 177, 972 270 , 666 20
21 Maturity less than 1 year ................... 3,742,765 2,302,941 159,700 2,143,241 1,229,0173 90,680 172,736 85,593 134,834 359 , 895 21
22 Maturity I year or more ..................... 3,709,314 1,646,738 85,821 1,560,917
23 Reserves for estimated expense8 l . .............
1,867,874 328,411 651,370 145,134 104,467 231 , 889 22
138,993 54,875 7,689 47,186 79,054 6,051 36,752 6,611 4, 130 12 , 807 23
24 Prepaid income l............................... 49,781 20,472 5,449 15,023 26,969 1,203 11,251 1,775 3,723 3 , 920 24
25 Accrued expenses .............................. 2,239,387 823,090 45,528 777,562 1,289,627 213,924 586,054 104,180 46,415 134, 283 25
26 Other liabilities ............................. 1,950,463 838,513 53,747 784,766 981,659 135,987 247,992 68,485 157,344 121,791 26
27 Capital stock , preferred ........ .
1 454 409 534 061 32,618 501,443 836,449 213,503 366,192 75,850 32,778 36 o9l 27
28 Capital stock, common2 ....... 8:721:825 3, 697 , 111 218 ,502 3,478,609
Surplus reserves ................. 4,464,033 480,972 1,513,317 381,906 293,839 605:311 28
29 787,190 324,911 16,309 308,602 427,851 58,458 231,0178 15,4" 41,330 26,758 29
30 Surplus and undivided profits ................. 18,738,310 7,845,885 463,3451 7,382,540 9,898,129 1,299,060 1 3,918,493 870,4431 487,708 1,382,5641 30
31 Total li~biliti ........................... 49,895,857 22,855,373 1,445,639 21,409,734 24,154,871 3,473,341 8,600,154 2,096,230 1,464,540 3,185,975 , 31
Receipts:
32 Gross sales ................................... 141,592,068 68,462,655 2,682,548 65,780,10`7 65,950,680 18,701,777 15,814,146 4,323,150 2,287,458 13,268,548 32
33 Gross receipts from operations ................ 2,335,104 1,661,473 652,161 1,009,312 493,670 49,872 66,743 34 , 409 32 , 985 158 , 259 33
less amortizable bond premium):
34 Wholly taxable .............................. 20,915 9,229 1,146 8,063 10,848 851 7,215 777 359 544 34
35 Subject to surtax only...................... 198 95 - 95 76 28 16 7 4 - 35
36 Wholly tax-exempt ........................... 1,785 570 21 549 1,171 634 92 82 135 82 36
37 Other Interest ................................ 143,011 58,697 7,461 51,236 78,318 4,844 28,052 2,279 5,927 22,043 37
38 Rents ......................................... 228o697 67,581 4,040 63,541 142,759 11,406 60,607 22,116 4,614 15,597 38
39 Royalties ..................................... 31,534 27,579 2,0`72 25,507 2,536 481 235 283 38 193 39
40 Net s hort-term capital gain reduced by net 4, 009 2,232 288 1,9" 1,512 65 28 56 as 942 40
41 Net long-term capital gain reduced by net 122,344 55,039 2o618 52,421 60,286 11,079 19,567 2,309 1 , "2 12 , 047 41
42 Net gain, sales other than capital assets.. ... 10,129 4,420 112 4,308 5,290 347 409 348 206 1 , 696 42
43 Dividends~ domestic corporations .............. 73,262 39,874 7,406 32,468 28,283 2,189 12,821 4,661 945 2,001 43
44 Dividends, foreign corporations ............... 78,821 69,192 78 69,114 9,583 6 8,905 641 1 17 44
45 Other receipts ................................ 1,138,443 430,374 55,769, 374,605 647,920 43,817, 168,314 72,774, 119,559 99,423, 45
46 Total compiled receipts ................... 145,780,320 70,889,010 3,415,720 67,473,290 67,432,932 18,827,396 16,187,150 4,463,892 2,453,761 13,581,392 46
Deductions:
47 Cost of goods sold ............................ 114,115,662 59,161,716 2,475,931 56,685,785 49,268,905 15,168,418 lOo362,387 2,792,153 1,480,293 11,341,429 47
48 Cost of operations ............................ 1,115,099 8", 470 213,890 630,580 215,955 27,725 l7o2O3 12,741 5,071 76,084 48
49 Compensation of officers ...................... 2,202,624 1,011,939 105,648 906,291 1,038,942 99,420 100,348 119,506 100,106 221,762 49
50 Rent paid on business property ................ 1,414,218 284,047 19,543 264,504 1,066,263 162,693 325,119 215,853 57,405 91,595 50
51 Repairs ....................................... 335,207 106,917 3,161 103,756 203,676 57,892 57,078 12,273 6,821 20,580 51
52 Bad debts ..................................... 247,828 94,237 4,570 89,667 135,576 7,296 33,248 12,039 19,021 21,074 52
53 Interest paid ................................. 335,467 163,780 8,128 155,652 153,685 18,457 44,171 9,885 11,343 33,108 53
54 Taxes paid.................................... 1,268,062 509,536 15,614 493,922 678,685 135,503 229,064 51,591 29,451 83,699 54
55 Contributions or gifts ........................ 52,047 19,857 1,128 18,729 29,768 5,833 10,551 3,145 1,486 3,049 55
56 Depreciation and amortization ................. 1,006,220 345,736 13,977 331,759 589,045 139,174 152,415 18,836
46,813 75,694 56
57 Depletion ..................................... 16,222 13,365 506 12,859 2,189 198 164 11 71 418 57
58 Advertising ................................... l,"2,622 371,304 17,878 353,426 992,316 125o245 408,503 111,844 75,358 147,196 58
59 Amounts contributed under pension plane ....... 222,774 79,398 7,210 72,188 134,477 36,663 75,457 4,624 1,298 4,505 59
50 Amounts contributed under other employee 61,114 21,984 1,217 20,767 36,927 18,167 4,769 2,386 968 4,232 6o
benefit plane.
51 Net loss, sales other then capital assets ..... 9,169 3,477 680 2,797 4,292 1,007 499 278 334 1,059 61
52 Other deductions .............................. 17,640,898 6,091,078 410,3431 5,680,735 10,582,639 2,402,4491 3,395,497 913,2711 557,473 1,214,661 62
53 Total compiled deductions ................. 141,485,233 69,122,841 3,299,424 65,823,417 65,133,340 18,406,140 15,216,473 4,308,413 2,365,335 13,340,145 63
~4 Compiled net profit (46 .....
less . .......
63) .... 4, 295 087 1 766 169 116 296 1 649 873 2 :299 : 592 421,256 970,677 155,479 88,426 241 , 247 64
55 Net income (64 less 36) 4 293:302 1, 765:599 116:275 1:649 , 324 2 298 421 420,622 970,585 155,397 88,291 241,165
Net operating loss deduction.................... 65
~6 79,210 36,333 4,143 32,190 35,709 5,191 3,420 5,447 3,865 3,415 66
57 Income tAx ...................................... 1,865,155 747,060 43,267 703,793 1,026,841 202,991 482,466 60,612 31,960 93,377 67
58 Excess profits tax 3............................. 2,272 1,124 79 1,045 1,000 348 130 40 30 60 68
59 Total tax ................................. 1,867,427 748,184 43,346 704,838 1,027,841, 203,339 482,596 60,652 31,99910D 9,33,4317 69
70 Compiled net profit less total tax (64 less 69). 2,427,660 1,017,985 72,950 945,035 504 :
1,271,751 217,917 488,081 94,827 56 , 436 147 , 810 70
Dividends paid:
71 Cash and assets other than own stock .......... 855 693 313 977 17,662 296,315 601 81,091 290,459 28,005 11,138 28,365 71
72~ 1 Corporation ' s own stock ....................... 117:010 52:829 2,714 50,115 58 1 7,706 4,727 3,062 10,649 72
See fc,otnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data."

Table 19.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Continued
Finance, insurance, real estate, and lessors

Trade-Continued of real property
Item Retail-Continued Total finance, Finance
Building insurance,4 Credit
Other Tr de not Bank and
Eating and real estate agencies
Drug, materials .1locable
a
store
drinking
and
retail and lessors of Total finance trust
other than
Places trade real property companies
hardware banks
(52) (53) (54) (55) (56) (57) (58) (59) (60)
1 Number of returns with balance sheets and with 3,673 6,522 10,184 14,221 129,856 32,628 13,579 13,246 1
net income. (7h-.-d d.11...
Assets:
C
2 h 71,920 109,622 178,494 . 206,539 300,670 49,796,240 45,704,565 43,810,395 1,271,179 2
3 Note
asLess:
; * . nd
***---**--*
ccounts receivable
....
.................
- ... *,**"*' 50,573 47,793 688,801 688,342 923,183 98,756,946 96,085,022 82,125,310 13,175,014 3
4 R:serve for bad debts ................ 502 202 20,290 23,321 27,750 988,415 968,144 762,949 203,421
5 Inventories ................................... 221,222 48,372 771,686_ _ .606,310 841,190 37,494. 1,798 - 590
Prepaid expenses and supplies ................. 3,361 7,979 6,331 11,891 11,706 99,615 31,098 16,527 11,551 6
Investments, Goverment obligations:
7 States, Territories, and United States 527 550 1,003 1,808 1,775 16,857,686 11,580,036 11,263,001 43,894 7
possessions.
8 United States obligations ................... 5,357 6,692 16,736 14,935 39,435 88,251,768 73,098,460 71,644,654 438,282 8
9 Not stated .................................. 851 744 2,877 2,703 3,058 4,089,740 4,001,401 3,779,250 72,574 9
10 Other investments ............................. 29,047 39,267 92,559 108,919 143,983 105,089,692 25,577,426 9,829,825 5,527,745 10
11 Depreciable assets ............................ 197,721 469,785 497,391 667,502 885,107 16,580,828 2,378,664 1,943,754 183,224 11
12 Less: Accumulated amortization ............. 1,037 4,217 2,403 5,264 3,610 96,145 13,116 2,743 655 12
13 Less: Accumulated depreciation ............. 89,235 205,357 228,440 293,806 385,475 4,172,381 417,842 273,909 51,992 13
14 Depletable assets ............................. 1,035 3,225 3,723 3,027 4,842 589,827 183,510 1,783 12,875 14
15 Leas: Accumulated depletion ................ 444 1,218 781 1,313 1,535 218,496 71,329 468 2,032 15
16 Land .......................................... 7,282 36,393 57,529 42,462 89,310 3,812,889 244,785 159,649 36,314 16
17 Intangible assets ............................. 2,357 8,674 2,855 16,169 7,015 419,789 325,829 301,257 2,978 17
18 Other assets .................................. 13,411 27,486 32,653 57,970 52,709 7,523,106 1,746,609 1,324,605 170,3731 18
.
19 Total assets .............................. 513,446 595,588 2,100,724 2,104,873 2,885,613 386,430,185 259,-488,772 225,159,941 20,688,493 19
Liabilities:
20 Accounts payable .............................. 86,062 76,197 254,441 327,995 542,491 3,843,384 2,372,383 23,791 lo586,011 2C
21 Maturity less than I year ................... 14,800 36,441 183,822 160,272 210,751 7,257,136 5,479,097 92,336 4,740,653 21
22 Maturity 1 year or more ..................... 43,243 70,839 115,094 177,427 194,702 15,577,746 6,777,404 54,067 5,877,820 22
23 Reserves for estimated expeneesl .............. 498 2,228 5,169 4,808 5,064 106,169 41,691 23,987 13,215 23
24 Prepaid incomel .................. 61 253 617 4,166 2,340 114,777 56,890 31,738 24,588 24
25 Aco liexpenses ................. 27,503 37,084 62,969 77,215 126,670 1,061,120 577,818 237,577 244,276 2,5
26 Othe7ed abilities ............................. 15,144 30,000 57,346 147,570 130,291 305,887,646 212,858,061 206,557,691 4 , 537, 301 2C
27 Capitol stock preferred
c ...................... 12,252 16,241 34,539 49,003 83,899 1,202,536 814,839 23,784 270,792 2",
28 Capital stock,, omoon2 ........................ 107,042 123,401 529,870 428,375 560,681 13,383,554 8,366,496 4,257,899 1,270,332 2E
29 Surplus reserves .............................. 4,904 4,70`7 16,550 28,622 34,428 3,526,555 2,799,690 1,961,700 417,003 29
30 Surplus and undivided profits ................. 201,937 198,197 M, 30`7 1 699,420 994,296 34,469,562 19,344,403 11,895,371 1,706,502 3C
31 Total liabilities ......................... 513,446 595,588 2,100,724 2,104,873 2,885,613 386,430,185 259,488,772 225,159,941 20,688,493 31
Receipts:
32 Gross sales ................................... 1,429,171 1,649,080 4,027,528 4,449,822 7,178,733 146,910 8,577 - 2,962 3~
33 Gross receipts from operations ................ 9,867 31,123 31,745 78,667 179,961 10,999,678 2,368,576 881,821 1,162,651 31
Interest on Goverment obligations I
34 Wholly taxable .............................. 147 204 397 354 838 1,710,385 1,337,,206 1,302,087 11,940 34
35 Subject to -tax only ...................... - 3 12 6 27 92,7o7 88,099 86,561 122 3f
36 Wholly tax-exempt ........................... 8 19 30 89 44 367,156 251,060 235,507 1,135 3E
37 Other interest ................................ 418 742 6,831 7,182 5,996 7,149,966 4,647,149 3,700,052 856,758 3-,
38 Rents ......................................... 5,276 5,252 7,332 10,559 18,357 2,552,628 161,668 139,345 7,410 3E
39 Royalties ..................................... 57 6" 356 249 1,419 170,066 45,584 2,413 17 3~
40 Net short-term capital gain reduced by net 30 27 126 150 265 43,402 37,083 26,318 1,533' 4C
long-tern capital loss.
41 Net long-term capital gain reduced by net 854 2,813 5,803 4,372 7,019 915,137 720,433 41-1,006 23,073 41
42 Net gain, sales other then capital assets ..... 8 343 1,307 626 419 555,912 132,944 11,173 2,328 4,
43 Dividends, domestic corporations .............. 1,597 1,058 1,698 1,313 5,105 1,102,842 726,608 39,526 23,576 4:
44 Dividends, foreign corporations ............... - - 10 3 46 47,448 43,146 202 9,089 41
45 Other receipts ................................ 11,561 10,591 47,583 74,298 60,149 318,397 183,256 83,873 42,138 4!
46 Total compiled receipts ................... 1,458,994 1,701,899 4,130,758 4,627,690 7,458,378 26,172,634 10,751,389 6,921,884 2,144,732 4(
Deductions
47 Cost of goods sold.. .......................... 973,740 859,897 3,099,888 3,190,790 5,685,041 97,490 5,600 - 1,362 4,
48 Cost of operations ............................ 2,s88 13,909 21,196 39,438 54,674 3,320,047 169,877 549 21,472 41
49 Compensation of officers ...................... 40,644 60,652 138,571 157,933 151,743 1,184,630 736,913 564,509 95,119 4~
50 Rent paid on business property ................ 45,167 73,737 24,581 70,113 63,908 310,888 123,625 75,106 36,980 5C
51 Repairs ....................................... 5,052 18,404 10,919 14,657 24,614 165,653 37,560 33,432 2,7671 51
52 Bad debts ..................................... 473 488 17,036 24,901 18,015 378,514 365,720 238,748 125,706 5;
53 Interest paid .................... 2,248 4,256 14,782 15,435 18,002 2,106,039 1,694,120 1,100,319 546,862 5~
54 Taxes paid ....................... 18,001 34,027 43,881 53,468 79,841 1,003,770 283,039 221,242 42,042 5,
55 Contributions or gifts ............. 836 887 1,949 2,032 2,422 37,521 24,252 18,499 2,801 5!
56 Depreciation and mortization ...... 16,216 38,925 41,288 59,684 71,439 708,189 157,433 128,864 21,336 5(
57 Depletion ..................................... 25 55 1,163 84 668 66,876 26,028 447 187 ;5'
58 Advertising ................................... 17,826 13,337 29,502 63,505 79,002 177,492 121,414 84,061 31,986 51
59 Amounts contributed under pension plans ....... 2,477 2,741 2,423 4,289 8,899 174,114 141,792 121,756 13 349 15~
60 Amounts contributed under other employee 747 1,998 1,765 1,895 2,203 47,775 23,524 19,938 2:708 6(
benefit plane.
61 Net loss, sales other then capital assets ..... 114 270 228 503 1,400 32,823 28,715 27,569 530 61
62 Other deductions .............................. 285,328 510,949 527, 6" 1 775,367 967,181 7,796,174 2,905,830
5 8 1 1,985,118 641,174 6;
63 Total compiled deductions ................. 1,411,482 1,634,442 3,976,816 4,474,094 7,229,052 17,607,995 6,845,442
0 ,9
45 442 4o620,157 1,586,381 6:
64 Compiled net profit (46 less 63) ... 47,512 67,457 153,942 153,596 229,326 8,564,639 33, 05,94477 2,301,727 558,35T 6,
65 Net income (64 less 36) ............ . 47,504 67,438 153,912 153,507 229,282 8,197,483 5 8 7
0
3,6655 4,887
4 2,066,220 557,216 6!
66 Net operating loss deduction.................... 841 5,736 2,"7 5,347 7,168 74,387 25 11,589 7,416 6(
67 Incone tax ......................... 19,486 25,246 56,183 54,520 91,254 2,067,788 1,221,485
.1' 867,970 248,076 6
68 Excess profits taX3................ 36 205 57 - 266 73 188 6~
69 Total tax ................................. 19,522 25,451 56,240 54,614 91,402 2,068,419 1,221,751 868,043 248,264 6~
70 Compiled net profit less total tax (64 less 69). 27,990 42,006 97,702 98 7: 11
924 6,496,220 2,684,196
''990
8 1,433,684 310,087 7(
Dividends paid:
71 Cash and assets other than own stock .......... 10,591 11,185 22,145 '9' : 1
21,62 1: 7 5 1,986,297 1,484,720 517,114 184,014 17:
7211 Corporation's own stock ....................... 1,249 564 1 6,540 1 2,9 179,117 1 148,928 98,3" 22,578 ;7;
See footnotes at end of table. See text for explanatory statements and for -'Description of the Semple and Limitations of Data."
Table ID.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Condwed
Finance, insurance, real estate, and lessors of real property-Continued
Finance-Continued Insurance carriera~and agents

tem Real estate
Holding and Security and except lesso;s Lessors of
Total insurance Insurance real property,
other commodity- of real
Insurance
inve stment exchange brokers carriers4 and agents and except
cs~rriers4 property other
companies and dealers agents brokers buildings
than buildings
(61) (62) (63) (64) (65) (66) (67)
1 Number of returns with balance sheets and with 4,661 1,142 8,620 2 , 081 6 , 539 1 85 , 801 1 2 , 80`7 1
net income.
(7h.-d d,11...
Assets:
2 Cash .................................................. 483,520 139,471 2,841,659 21615,359 226,300 1,171,696 78,320 2
3 Notes and accounts receivable ......................... 459,231 325,467 692,898 240,531 452,367 1,993,468 85,558
4 Less: Reserve for bad debts.. ...................... 1,346 428 5,133 1,887 3,246 14,785 353
5 Inventories ........................................... -
1,208 16,322 15,908 414 17,499 1,875
6 Prepaid expenses and supplies ......................... 2,019 1,001 3,748 1,L82 2 , 566 62 , 676 2 , 093
7 States, Territories, and United States 222,944 50,197 5,220,330 5,217,287 3,043 51,642 5,678 ?
possessions .
8 United States obligations ........................... 469,835 5457689 14,919,309 14,899,083 20,226 185,828 48 , 171 E
9 Ot Not stated .......................................... 10,705 138,872 50,180 48,178 2,002 34,859 3 , 300 G
10 her investments ..................................... 9,736,034 483,822 75p561,879 75,400,290 161,589 3,722,008 228,379 1C
11 Depreciable assets ....................... I ............ 214,904 36,782 988,839 898,039 90,800 11,589,569 1 , 623, 756 12
2 Less: Accumulated -ti.eti.n ..................... 9,620 98 361 72 289 66,438 16, 230 1;
1
~3 Da les.: Accumulated depreciation ..................... 71,428 20,513 56,493 26,867 29,626 3,515,527 182 , 519 1`
14 pletable assets ..................................... 168,249 603 699 438
261 45,898 359,720
15 Less: Acc umula ted depleti on ........................
111
68,508 321 496 259 237 14, 084 132,587
16 Land .................................................. 37,672 11,150 19,267 9,971 9,296 3,403,961 144,876 1
17 Intangible assets . .................................... 19,022 2,572 42,670 20,662 22,008 41,328
18 9,962 1 ~1
Other assets .......................................... 78,117 173,514 5,260,634 5,216,585 44,049 464,214 1 51,651 1E
19 Total assets ...................................... 11,752,558 1,887,780 105,5557951 104,554,251 1,001,700 19,073,812 2,311,650 is
Liabilities:
20 Accounts payable ............... 295,581 467,000 513,228 75,113 438,115 904,058 53 , 715 2C
Bonds, notes, mortgages payable.: ... --*** ..... *-'
21 Maturity less than I year........................... 241,666 404,442 48,973 24,772 24,201 1,695,714 33,352 21
22 Maturity 1 year or more ............................. 586,018 259,499 44,131 27,054 17, 0177 7,986,316 769,995 22
23 Reserves for estimated expenses' ...................... 2,831 1,658 14,836 11,395 3,441 48,991 651 23
24 Prepaid income I....................................... 299 265 11,442 10,692 750 32,282 14,163 24
25 Accrued expenses ...................................... 73,266 22,699 83,923 56,978 24,945 361,775 37,604 25
26 Other liabilities ..................................... 1,386,515 376,554 92,086,464 91,972,994 113,470 897,984 45,137 26
27 Capital stock, preferred.. ............................ 494,383 25,880 34,313 13,667 20,646 287,507 65 , 877 2?
'8 Capital stock, common2................................ 2,736,947 101,318 1,416,230 1,307,909 108,321 2,8407331 760,497 28
29 Surplus reserves ...................................... 408,748 12,239 513,865 489,910 23,955 195,998 17,002 29
30 Surplus and undivided profits ......................... 5,526,304 216,226 10,788,546 10,561,767 226,779 3,822,956 1 513,757 30
31 Total liabilities ................................. 11,752,558 1,887,780 105,555,951 104,5547251 1,001,700 19,0`73,812 2,311,650 31
Receipts:
32 Gross sales ........................................... -
5,615 63,823 60,975 2,848 64,592 9,918 32
33 Gross ' r-ipts from operations ........................ 52,864 271,240 7,080,862 6,436,527 644,335 1,543,202 7,038 33
34 Wholly taxable ...................................... 11,809 11,370 366,114 365,491 623 5,759 1,306 34
35 Subject to surtax only .............................. 56 1,360 4,535 4,527 8 70 3 35
36 Wholly tax-exempt ................................... 3,543 10,875 114,762 114,712 50 1,194 140 36
37 Other interest ........................................ 85,174 5,165 2,437,689 2,433,798 3,991 62,813 2 , 315 37
38 Rents ................................................. 13,942 971 239,43? 235,903 3,534 2,057,348 94,175 38
39 Royalties ............................................. 43,068 86 215 47 168 4,251 1.20,016 39
W Net short-term capital gain reduced by net 7 , 889 1 , 343 1 , 261 1, 171 90 4,909 149 40
Net long-term capital gain reduced by net
278,694 5,660 62 , 308 57, 009 5 , 299 115 , 571 16 , 825 41
Q Net gain, sales other than capital assets ............. 6,011 113,432 1,975 1,609 366 420,366 627 42
'.3 Dividends, domestic corporations ...................... 651,633 11,873 340,355 333,493 6,862 32,629 3,250 43
'.4 Dividends, foreign corporations ....................... 33,472 383 3,449 2,046 1,403 662 191 44
1.5 Other receipts ........................................ 43,585 13,660 37,514 24,226 13,288 90,642 1 6,985 45
'.6 Total compiled receipts ........................... 1,237,355 447,418 10,754,299 10,071,534 682,765 4,404,008 262,938 46
Deductions: - - -
'.7 Cost of goods old .................................... -

4,238 51,233 49,086 2 147 33 237 7,420 47
W Cost of operations .................................... 8,688 139,168 2,702,209 2,594,751 10`7:458 446:124 1,837 48
1.9 Compensation of officers .............................. 20,846 56,439 171,768 55,680 116,088 269,472 6,477 49
50 Rent paid on business property ........................ 3,340 8,199 70,962 51,278 19,684 113 601 2 700 5()
51 Repairs ............................................... 668 693 4,250 3,125 1,125 121:279 2:564 51
52 Bad debts ............................................. 569 697 5,526 2,210 3,316 7,232 36 52
53 Interest paid ......................................... 31, 3G6 15,633 12,327 10,697 1,630 376,236 23,356 53
54 Taxes paid ............................................ 11,965 7,790 222,828 212,649 10,179 472,381 25,522 54
55 Contributions or gifts ................................ 2,237 715 3,691 2,431 1,260 9,268 310 55
56 Depreciation and amortization ......................... 4,562 2,671 89,796 80,486 9,310 444,660 l6o3OO 56
57 Depletion ............................................. 25,324 70 227 220 7 1,690 38,931 57
58 Advertising ........................... I ............... 805 4,562 19,955 12,595 7,360 36,040 83 58
59 Amounts contributed under pension plane ............... 2,043 4,644 25,916 20,406 5,510 5,916 490 59
~O Amounts contributed under other employee 246 632 21,424 19,886 1,538 2 , 666 161 60
benefit plane.
~l Net loss, sales other then capital assets ............. 444 172 1,471 979 492 2,605 32 6. 1
~2 Other deductions ...................................... 150,669 1 128,869 3,758,952 3,444,750 314,202 1, 107,207 1 24,185 , 62
,3 Total compiled deductions ......................... 267,950 370,954 7,162,535 6,561,229 601,306 3,449,614 150,404 63
)4 Compiled net profit (46 less 63) ...................... 969,405 76,464 --7,-
591,764 -3,510, -305 81,459 954,394 112,534 64
65 Net in come (64 l ess 36) ............................... 965,862 65,589 3,477,002 3,395,593 Slp409 953,200 112,394 65
)6 Net operating lose deduction............................ 3,048 2,958 9,732 8,079 1,653 38,450 66
,7 Income tax .............................................. 82,770 22,669 487,082 458,518 28,564 310,402
Excess profits taX3.......... .......................... 48,819 67
,a - 5 46 15 31 290 29 68
,9 Total tax .................................... I .... 82,770 22,674 487,128 458,533 28, ~595 310 692 48,848, 69
-------- =M= =
U Compiled net profit less total tax (64 less 69) ......... 886,635 53,790 3,104,636 3,051,772 52 , 864 643 , 702 63 , 686 70
Dividends paid:
Cash and assets other than own stock .................. 773,421 10,171 296,687 277,169 19,518 145,810 59 , 080 71
2 1 Corporation ' s own stock ............................... 25,794 2,212 18,521 14,705 3,816 11,280 388~ 72
Table 19.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY MAJOR INDUSTRIAL GROUP-Conti-ed
Services
Miscel- Nature of
Item Hotels and Automotive Amusement, Other business
laneous
Total other Personal Business repair . Motion exceDt services, not
repair motion
services lodging services services services pictures including allocable
ervices,
places and gar~age pictures schools
hand trades
(68) (69) (70) (71) (72) (73) (74) (75) (76) (77) 1
1 Number of returns with balance sheets and with 32,779 3,362 6,864 8,948 3,167 1,608 3,078 2,640, 3,112 1,569 1
net income.
(n-d d.11-)
Assets:
2 Cash ........................................... 1,055,108 140,258 111,404 327,976 39,856 20,111 236,891 104,274 74,338 17,678 2
3 Notes and accounts receivable .................. 1,189,404 111,229 131,938 495,542 55,352 36,098 213,553 42,299 103,393 60,056 3
Less: 548 5,088 231 4
4 Reserve for led debt .................. 28,853 1,675 2,450 14,404 808 1,045 2,835
5 Inventories .................................... 486,665 28,215 60,463 57,527 17,398 25,248 271,511 8,002 18,501 4,833 5
6 Prepaid expenses and supplies .................. 58,566 11,108 8,729 10,388 4,716 742 14,899 4,539 3,445 59 6
States, Territories, and United States 16,570 3,328 1,554 7,155 357 68 219 2,078 1,811 126 7
p-se-ions.
8 United Staten obligations .................... 169,528 19,552 17,332 41,421 1,995 1,816 45,290 25,650 16,472 3,238 8
9 Not stated ................................... 16,107 3,063 1,646 5,199 527 402 1,246 1,191 2,833 1,967 9
10 Other investments .............................. 1,200,657 221,796 58,482 327,965 19,732 4,048 489,039 49,125 30,470 14,961 10
11 Depreciable assets ............................. 5,185,930 1,542,630 649,965 918,844 411,097 53,240 1,026,920 382,254 200,980 23,732 11
12 Less: Accumulated amortization.............. 31,020 4,377 2,861 2,654 6,432 892 11,156 1,795 853 3 12
13 Less: Accumulated depreciation .............. 2,323,757 649,544 30`7, 829 400,615 154,026 24,154 551,340 157,467 78,782 6,024 13
14 Depletable assets .............................. 17,342 2,152 2,336 1,860 724 474 1,437 7,692 667 3,411 14
15 Less: Accumulated depletion ................. 5,843 412 1,064 856 275 163 1,055 1,818 200 1,147 15
16 Land ........................................... 591,608 220,436 36,856 28,821 40,431 2,657 193,829 53,302 15,276 3 796 16
17 Intangible assets .............................. 59,857 3,400 10,806 20,809 1,664 407 13,211 5,053 4,507 11937 17
,
18 Other assets ................................... 277,782 49,130 44,737 75,004 14,899 3o5O5 50,429 22,210 17,868 25,983 18
19 Total assets ............................... 7,935,851 1,700,289 822,044 1,899,982 447,207 122,562 1,992,088 546,041 405,638 154,372 19
Liabilities:
20 Accounts payable ............................... 767,350 77,812 88,648 319,106 38,290 16,248 147,328 39,161 40,757 34,254 20
21 Maturity less then I year .................... 411,089 90,145 46,287 96,610 49,152 5,633 69,448 34,155 19,659 15,550 21
22 Maturity 1 year or more ...................... 1,511,052 563,022 85,986 228,282 140,947 7,774 387,317 62,058 35,666 7,876 22
23, Reserves for estimated expenses' ............... 18,789 1,410 2,375 4,963 5,536 258 1,930 545 1,750 250 23
24 Prepaid Incomel.. .............................. 14,520 649 594 3,597 2,581 209 -2,310 1,480 3,100 2 684 24
25 Accrued expenses ............................... 381,832 71,135 40,153 103,029 14,444 7,898 82,565 28,468 34,140 41252 25
,
26 Other liabilities .............................. 415,702 64,530 38,656 140,342 13,162 9,594 79,399 32,303 37,716 17 940 26
27 Capital stock, preferred ....................... 164,113 49,773 24,417 38,293 12,168 981 40,060 -11,096 7,325 21692 27
,
28 Capital stock, ccmmon2 ......................... 1,237,721 251,735 175,204 258,267 61,576 26,165 256,491 128,713 79,570 27,272 28
29 Surplus reserves ............................... 163,117 24,768 9,151 34,438 2,700 345 70,521 11,071 10,123 918 29
30 Surplus and undivided profits .................. 2,830,566 505,310 310,573 1 673,035 106,649 47,457 1 854,719 196,991 1 135,832 40,684 , 30
31 Total liabilities .......................... 7,935,851 1,700,289 822,044 1,899o982 447,207 122,562 1,992,088 546,041 405,638 154,372 31
Receipts:
32 Gross sales .................................... 1,222,308 450,500 203,793 200,722 90,365 92,120 80,790 46,405 57,613 22,012 32
33 Gross receipts from operations ................. 8o283,138 737,607 1,216,203 2,855,371 338,197 183,097 1,652,400 596,379 703,884 45,809 33
34 Wholly taxable ............................... 3,987 479 343 946 so 16 869 571 683 86 34
35 Subject to surtax only ....................... 9 1 2 2 1 - 1 1 1 2 35
36 Wholly tax-exempt ............................ 1,310 49 32 1,070 63 - 16 29 51 18 36
37 Other interest ................................. 12,694 3,210 1,146 2,373 769 106 3,884 838 368 668 37
38 Rents .......................................... 220,123 106,061 3,320 26,647 30,548 1,354 42,434 6o483 3,276 1,255 38
39 Royalties ...................................... 24,652 7 653 10,100 411 32 8,132 4,151 1,166 119 39
40 Net short-term capital gain reduced by net 1,351 87 9 994 60 104 55 29 13 570 40
41 Net long-tem capital gain reduced by net 37,719 11,664 3,678 7,430 5,164 568 4o376 3,505 1,334 3,258 41
42 Net gain, sales other than capital assets ...... 3,434 654 339 600 71 3 70 1,639 58 619 42
43 Dividends, domestic corporations ............... 24,811 3,741 1,792 12,307 691 5 5,255 733 287 167 43
44 Dividends, foreign corporations ................ 8,875 15 - 1,931 - - 6,768 1 160 36 44
45 Other receipts ................................. 106,719 14,776 6,227 1 20,771 5oO15 1,250 38o759 9,754 10,167 2,779 45
1 1
46 Total compiled receipts .................... 9,951,130 1,328,851 1,437,537 3,141,264 471,435 278,655 1,843,809 670,518 779,061 77,398 46
Deductions:
47 Cost of goods sold ............................. 719,032 252,146 105,556 137,109 57,679 59,598 ",920 25,471 36,553 15,611 47
48 Cost of operations ............................. 4o724o4l4 269,016 703,586 1,656,708 159,744 122,239 1,138,559 302,726 371,836 15,636 48
49 Compensation of officers ....................... 443o349 27o973 85oO25 174,975 23,493 18,576 35,102 27,770 50,435 7,883 49
50 Rent paid on business property ................. 308,215 65,225 41,551 54,825 31,374 5,065 67o506 23,138 19,531 1,118 50
51 Repairs ........................................ 111,894 45,866 16,156 14,587 4o994 1,355 l5oO63 9,596 4,277 435 51
52 Bad debts ...................................... 16,803 2,834 3o602 3,863 803 847 1,603 958 2,293 225 52
53 Interest paid .................................. 72,146 24,295 6,316 11,481 7,940 643 15,282 3,795 2,394 1,304 53
54 Taxes paid ..................................... 235,910 57,759 31,495 39,415 13,204 4,653 41,623 34,368 13,393 lo373 54
55 Contributions or gifts ......................... 9,264 1,599 1,418 2,287 328 72 1,085 1,878 597 57 55
56 Depreciation and amortization .................. 402,145 78o390 51,194 98,700 65,406 5,685 61,411 27o908 13,451 1,853 56
57 Depletion ...................................... 967 160 252 41 1-27 5 1 378 3 207 57
58 Advertising .................................... 152,728 22,651 22,366 18,666 3,846 2,782 55,459 15,054 11,904 849 58
59 Amounts contributed under pension plane ........ 45,001 2,674 2,819 26,808 436 266 4,461 927 6,610 70 59
60 Amounts contributed under other employee 12,766 3o296 2,957 2,834 333 598 lo176 530 1,042 22 60
benefit plane .
61 Net loss, sales other than capital assets ...... 3,789 240 329 597 910 33 1,188 414 78 18 61
62 Other deductions ............................... 1,921,503 376,341 282,438 669,684 67,015 42,841 194o567 110,135 178,482 16,572 1 62
63 Total compiled deductions .................. 9,179,926 1,230o465 1,357,060 2,912,580 437,632 265,258 1, 679, 006 585,046 712,879 63,233 63
64 Compiled net profit (46 less 63) ................. 771,204 98,386 80,477 228,684 33,803 13,397 164,803 85,472 66,18T_ 1-4,165 64
65 Net income (64 less 36) .......................... 769,894 98,337 80,445 227,614 33,740 13,397 164,787 85,"3 66,131 14,147 65
66 Net operating loss deduction ..................... 27,432 3,664 3,922 5,102 1,564 728 5,066 4,183 3,183 644 66
67 Income tax ....................................... 317,201 39,480 29,439 94,533 11,558 4,908 72,799 37,853 26,631 4,563 67
68 Excess profits taX3 .............................. 1,452 138 227 264 52 14 512 199 46 - 68
69 Total tax ............................ I ..... 318,653 39,618 29,666 94,797 11,610 4,922 73,311 38,052 26,6~~ 4,563 69
70 Compiled net profit less total tax (64 less 69).. 452,551 58,768 50,811 133,887 22,193 8,475 91,492 47,420 39,505 9,602 70
Dividends paid:
71 Cash and assets other than own stock ........... 156,102 20,296 13,383 44,592 2,~ 902 4 19,500 9,136 2,696 71
72 1 Corporation's own stock ........................ 15,585 3,278 1 1,611 1 2,449 1,~ - 2,300 1 1,363 1 150 1 72
'Sm reported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 and ending on or before June 15, 1955. See this item in textual discussion, p. 11.
2Capital stock which was not definitely designated as either common or preferred was tabulated under common stock.
NOTE: See text for explanatory statements and for 'Mescription of the Sample and Limitations of Data."
Table 20.-RALANCE SHEETS AND RELATED INCOME STATEMENTS, BY SIZE OF TOTAL ASSETS

Its.
$25, ODO $50,000 $-,000 $250,000 $500,000 $1,000,000
Total Under
under under under under under under
$25, ODO
$50,000 $100,000 $250,000 $500,000 $1,000,000 $2,500,000
(1) (2) (3) (4) (5) (7)

(6) (8)
I Number of returns with balance sheets and with net income ......... 419,679 69,224 60,772 77,717 98,554 46,870 26,551 19,803 1
..-d d.11 ...
Assets:
2 C h............................................................ 76,086,421 179,802 341,100 761,404 1,865,808 1,842,288 2 153 956 4 119 1 148 2
3 Notes
a and accounts receivable ................................... 147,688,470 198,669 503,982 1,319,957 3,942,359 4,273,985 4: 906: 150 8 I 131,193
131 : 47 3
4 Less : Reserve for bad debts .................................. 2,116,734 2,621 7,800 20,792 75,888 84,967 95,438 4
5 Inventories ..................................................... 54,834,777 123,598 363,717 925,091 2,64-4,622 2,860,886 3,054,636 4,369,042 5
6 Prepaid expenses and supplies ................................... 1,760,285 5,940 13,968 31,684 83,629 87,909 90,654 120,339 6
7 States, Territories, and United States possession,s ............ 17,322,074 825 1,826 3,69? 16,649 22,699 88,1074 329,071 7
8 United States obligations ..................................... 104,092,817 2,656 7,431 28,640 127,594 238,426 611,242 2,641,867 8
9 Not stated .................................................... 4,608,317 1,236 2,860 9,819 34,602 53,992 94,083 513,135 9
10 Other investments ............................................... 131,759,256 44,250 126,684 345,284 1,178,491 1,352,790 1,785,827 3,303,331 10
11 Depreciable assets .............................................. 230,825,198 458,415 1,070,005 2,673,414 7,145,430 6,960,558 7,402,325 9,683,401 11
12 Less: Accumul:ted d
8mortiz:ti.n ............................... 3,374,591 8,331 12,407 19,769 46,369 34,939 53,805 59,194 12
13 Less: Accumul ted epreci tion ............................... -,'8,151,4?2 211,392 446,311 1,046,038 2,772,829 2,769,?21 2,988,561 4,023,609 13
14 Depletable assets ............................................... 7,028,152 21,68? 25,678 47,899 83,415 101,429 167,915 254,639 14
15 Less: Accumulated depletion .................................. 3,064,320 14,655 12,511 25,334 39,054 40,331 67,576 96,687 15
16 Iand ............................................................ 8,663,383 42,822 144,612 388,441 1,G65,746 1,023,067 951,864 956,802 16
17 Intangible assets ............................................... 1,273,573 10,077 21,299 35,676 77,540 49,240 60,994 85,554 17
18 Other assets .................................................... 14,294,971 47,534 89,756 1 180,044 445,756 439,015 1 443,309 664,712 18
19 Total assets .............................................. 713,530,577 900,512 2,233,889 5,639,117 15,777,491 16,376,326 18,605,649 30,861,505 19
Liabiliti a:
20 Accounts payable ............... : ................................ 31,317,296 157,493 326,613 770,813 2,077,134 2,123,964 2,074,668 2,685,793 20
Bonds, notes, mortgages payable.
21 Maturity less than 1 year ..................................... 1?,791,911 80,017 182,134 457,442 1,378,756 1,514,6G4 1,631,284 2,025,867 21
22 Maturity 1 year or more ...... i ................................ 72,373,142 108,3195 284,519 787,251 2,318,235 2,361,476 2,405,976 2,995,718 22
23 Reserves for estimated expenses ................................ 992,287 2,505 5,184 16,125 39,429 43,291 47,842 89,519 23
24 Prepaid incomel ................................................. 367,589 1,713 2,637 9,501 28,186 33,318 34,836 49,405 24
25 Accrued expenses ................................................ 18,028,323 46,567 93,549 207,807 567,823 607,731 710,339 1,017,995 25
26 Other liabilities ............................................... 319,733,566 60,414 124,166 279,490 795,902 972,526 1,930,484 7,738,110 26
27 Capital stock preferred ........................................ 13,468,408 11,875 29,145 75,052 233,603 318,595 403,371 682,952 27
28 Capital stock,, common2 .......................................... 77,809,164 398,393 706,361 1,486,804 3,583,178 3, 104,627 3,132,155 4,214,184 28
29 Surplus reserves ................................................ 10,848,064 4,479 11,402 34,575 115,267 146,960 240,284 3197,385 29
30 Surplus and undivided profits ................................... 150,800,827 28,661 468,179 1 1,514,257 4,639,978 5,149,234 5,994,410 8,964,577 30
31 Total liabilities ......................................... 713,530,577 900,512 2,233,889 5,639,117 15,777,491 16,376,326 18,605,649 30,861,505 31
Receipts:
32 Gross sales.,.,. .. ......... 383,824,906 1,791,164 3,981,838 9,554,442 26,566,849 27,426,890 27,933,166 35,187,119 32
opera
33 Gross recei, t. from tions .................................. 72,632,147 974,263 1,222,664 2,299,233 5,005,131 4,2?8,299 4,195,733 5,163,263 33
pre.i-):
34 Wholly taxable ................................................ 1,975,260 516 225 1,397 4,366 6,141 16,067 62,247 34
35 Subject to surtax only ........................................ 95,555 2 1 16 68 97 223 704 35
36 Wholly tax-exempt ............................................. 381,261 2 10 178 472 1,120 2,707 8,991 36
37 Other interest .................................................. 7,607,606 3,361 5,512 17,787 64,501 98,952 123,762 278,741 37
38 Rents ........................................................... 3,797,705 61,603 109,149 249,981 591,456 480,699 400,294 371,761 38
39 Royalties ....................................................... 512,196 4,792 5,105 6,426 19,182 18,516 21,517 46,231 39
40 Net short-term capital gain reduced by net long-term capital loss 60,306 1,417 1,145 2,039 3,511 2,061 2,989 5,369 40
41 Net long-term capital gain reduced by net short-term capital loss 1,771,993 12,075 13,517 24,759 64,015 58,509 79,697 102,955 41
42 Net gain, sales other than capital assets ........... 605,913 15,945 35,644 69,533 120,664 92,696 68,435 67,510 42
43 Dividends, domestic corporations .................... 2,230,743 1,369 3,364 4,996 20,836 21,510 37,748 80,209 43
44 Dividends, foreign corporations ................................. 606,464 216 24 396 1,974 709 1,189 2,844 44
45 Other receipts .................................................. 2,712,656 23,290 1 39,613 81,489 1 249,000 266,110 267,248 350,636 45
46 Total compiled receipt .................................... 478,814,711 2,890,015 5,417,811 12,312,672 32,712,025 32,752,309 33,150,775 41,728,580 46
Deductions:
47 Cost of goods sold .............................................. 290,D65,620 1,270,928 2,918,784 7,263,810 20,882,807 21,882,780 22,235,093 27,671,596 47
48 Cost of operations .............................................. 41,934,492 523,846 700,048 1,363,733 3,184,179 2,846,209 2,806,413 3,434,222 48
49 Compensation of officers ........................................ 7,263,676 243,596 357,972 657,515 1,308,149 1,001,957 812,681 809,315 49
50 Rent paid on business property .................................. 3,958,523 101,795 124,060 206,175 370,198 299,395 261,844 280,422 50
51 Repair.......................................................... 4,471,908 15,900 27,483 58,501 145,284 136,662 147,065 210,921 51
52 Bad debts ....................................................... 879,565 4,2?1 10,919 27,798 73,521 69,1)60 63,133 75,609 52
53 Interest paid ................................................... 4,606,091 10,058 23,991 56,895 166,887 175,275 185,721 2",959 53
54 Taxes paid ...................................................... 10,815,110 46,399 87,528 185,469 456,633 432,653 451,379 623,875 54
55 Contributions or gifts .......................................... 306,940 647 1,507 4,183 12,547 14,864 18,922 30,353 55
56 Depreciation and amortization ................................... 11,547,106 49,095 93,859 215,040 536,801 495,604 508,034 647,770 56
57 Depletion ....................................................... 2,089,346 1,949 1,376 2,887 13,348 17,486 23,889 64,800 57
58 Advertising ..................................................... 4,926,384 27,149 49,651 101,662 264,191 260,542 277,846 412,849 58
59 Amounts contributed under pension plans ......................... 2,653,229 698 1,543 4,708 18,280 30,913 52,503 104,535 59
60 Amounts contributed under other employee benefit plans .......... 815,955 936 2,527 6,263 19,819 23,301 27,872 43,221 60
61 Net loss, sales other than capital assets ....................... 103,745 713 759 1,930 4,524 4,539 4,202 6,413 61
62 Other deductions ................................................ 52,858,682 471,429 781,517 1 1,637,959 3,973,534 3,807,936 1 3,814,901 4,842p343 62
63 Total compiled deductions ................................. 439,296,272 2,769,409 5,183,524 11,794,528 31,430,702 _ 31,500,076 3lp691,498 39,503,203 63
64 Compiled net profit (46 less 63) .................................. 39,518,439 120,606 234,287 518, 1" 1,281,323 1,252,233 1,459,277 2,225,377 64
65 Net income (64 less 36) ........................................... 39,137,178 120,6G4 234,277 517,966 1,280,851 1,251,113 1,456,570 2,216,386 65
66 Net operating loss deduction ...................................... 423,874 27,515 25,367 37,546 63,507 42,511 39,010 38,080 66
67 Income tax ........................................................ 16,645,457 25,469 60,630 143,488 390,149 445,366 592,430 979,976 67
68 Excess profits taX3 ............................................... 36,828 - 27 1017 989 1,633 2,G69 3,264 68
69 Total tax ................................................. 16,682,285 25,469 60,657 143,595 391,138 _F "6,999 594,499 1 983,240 ] 69
70 Compiled net profit less total tax (64 less 69) ................... 22,836,154 95,137 173,630 374,549 890,185 1 805,234 864, ~Fi8 1,242,137 70
Dividends paid:
71 ,
72 CC,. ;h . ;ndti.
an,6ets other than own stock ............................ 11,526 838 18,932 26,906 5 168,642 220 232 374,271 71
Is own stock ......................................... 1,311,537
, 434 1,187 ",055 52,813
, 94,838 72
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and limitations of Data."
ACTIVE CORPORATION INCOME TAX RL7URNS-1954 119
Tabla 20-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY SIZE OF TOTAL ASSETS-Continuod
Item $2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,ODO $100,000,000 $250, 000 000
under
'000,000 -der
$10,000,000 under -der under -der or more
$5 $25,000,000 $50,000,000 $100,000,ODO $250,000,000
(9) - (10) (11) (12) (13) _ (14) (15)
5,085 3,384 1,244 684 477 375 1

1 Number of returns with balance sheets and with net income ......... 8,939
( 7?w..-d d.11 ...
Assets:
4,510,254 5,130,184 6,765,979 5,226,190 5,462,347 8,081,566 29,646,395 2
2 Cash ............................................................
12,337,778 9,938,069 9,539,066 14,973,302 60,431,075 3
Notes and accounts receivable.. ................................. 8,202,205 8,990,726
3
110,937 126,613 177,699 151,358 133,269 199,591 798,568 4
4 Les a : Reserve for bad debts ..................................
3,386,260 3,344,845 4,850,328 3,576,153 3,887,107 5,852,126 15,596,366 5
5 Inventories .....................................................
99,225 135,712 116,222 117,878 133,266 619,363 6
6 Prepaid expenses and supplies ................................... 104,496
1,349,830 1,800,756 1,639,686 1,518,947 2,187,331 7,596,609 7
7 States, Territories, and United States possessions ............ 766,074
9,969,198 8,071,136 8,792,103 12,484,945 50,474,721 8
8 United States obligations ..................................... 4,178,941 6,464,027
9
9 Not stated .................................................... 855,199 141,908 271,816 187,463 240,425 409,368 1,792,411
3,333,382 3,966,542 6,452,207 5,871,654 7,677,468 10,308,993 86,012,353 10
7,805,667 8,18o,391 12,616,537 11,246,936 14,182,108 23,787,296 117,612,715 11

11 Depreciable assets ..............................................
62,716 87,547 168,026 140,257 178,067 272,204 2,230,960 12
12 Less: Accumulated amortization ...............................
3,177,674 4,735,354 4,209,703 4,816,620 7,042,875 36,761,483 13
13 Less: Accumulated depreciation ............................... 3,149,302
555,391 635,541 495,477 398,104 3,595,157 14
14 Depletable assets ............................................... 312,796 333,024
98,057 119,901 185,220 319,547 23?,786 155,0?7 1,652,584 15
15 Less: Accumulated depletion ..................................
632,793 522,536 628,032 364,412 313,476 569,459 1,039,321 16
16 Land ............................................................
60,655 81,380 93,771 73,210 62,667 55,311 506,199 17
17 Intangible assets ...............................................
572,959 539,794 811,905 797,262 1,112,536 1,527,753 1 6,622,636 18
18 Other assets ....................................................
31,300,669 35,632,677 52,023,111 42,923,069 48,035,863 73,118,973 340,101,726 19

19 Total assets ..............................................
Liabilities:
1,708,555 2,133,893 1,605,354 1,685,132 2,369,147 9,699,825 20
20 Accounts payable ................................................ 1,898,912
21 Maturity less than I year ..................................... 1,372,432 1,350,415 1,418,679 967,108 1,159,079 1,553,000 2,701,094 21
36,960,466 22
22 Maturity 1 year or more ....................................... 2,457,380 2,371,349 3,555,278 3,043,435 4,067,446 8,656,218
23 Reserves for estimated expenses' ................................ 56,875 67,317 85,(Yw 66,017 80,678 121,482 270,976 23
24 Prepaid income' ................................................. 30,934 22,386 24,321 16,178 25,322 23,460 65,392 24
Accrued expenses ................................................ 831,757 842,390 1,278,530 1,017,868 1,234,069 1,928,039 7,643,839 25
25
Other liabilities ............................................... 12,536,332 16,345,021 24,248,270 20,462,034 21,881,264 33,300,583 179,058,970 26
26
Capital stock, preferred ........................................ 596,464 565,252 993,096 1,009,230 1,110,630 2,184,362 5,234,781 27
27
Capital stock, common2 .......................................... 3,306,992 3,227,113 4,442,038 3,476,833 4,403,591 6,978,134 35,348,761 28
28
Surplus reserves ................................................ 457,879 609,688 946,190 872,151 957,396 1,266,310 4,?66,098 29
29
Surplus and undivided profits ................................... 8,503,191 12,897,769 10,386,841 11,431,256 .14,736,238 58,331,524 30
30 7,754,712
340,101,726 31
31 Total liabilities ......................................... 31,300,669 35,632,677 52,023,111 42,923,069 48,035,863 73,118,973
Receipts:
32 Gross sales 24,742,081 23,520,504 30,148,613 23,193,570 23,196,764 30,868,613 95,713,293 32
33 Gross receipt.
.... from operations
...... .................................. 3,622,632 3,926,475 3,802,603 3,453,877 4,123,517 7,014,961 23,549,496 33
Interest on Goverment obligations (less amortizable bond
premi-):
34 Wholly taxable ................................................ 100,713 128,135 195,891 156,123 157,940 240,538 904,961 34
35 Subject to surtax only........................................ 2 861 2,777 4,603 5 287 7 074 10,626 61,216 35
18, 719 28,381 38,445 32,' 854 36:994 44,590 167,808 36
36 Wholly tax-exempt.............................................
398,648 553,600 47B,700 439,215 648,504 4,175,659 37
37 Other interest .................................................. 320,664
138,933 61,164 84,618 183,796 716,719 38

38 Rents ........................................................... 242,696 104,836
30,697 36,170 69,782 34,899 72,993 31,172 114,714 39
39 Royalties .......................................................
3,659 2,577 5,631 3,813 3,930 6,303 15,662 40
40 Net short-term capital gain reduced by net long-term capital low
196,486 178,333 451,385 41
41 Net long-term capita L gain reduced by net short-term capital low 115,654 118,647 200,264 155,697
24,759 24,602 15,923 18,962 5,195 7,947 38,098 42
42 Net gain, sales other than capital assets .......................
B9,316 90,529 217,805 137,582 250,984 192,753 1,081,742 43
43 Dividends, domestic corporations ................................
7,542 26,403 25,595 66,959 72,932 393,600 44
44 Dividends, foreign corporations ................................. 6,081
204,309 1 154,152 124,430 158,754 1 356,096 45
45 Other receipts .................................................. 226,284 211,245
28,601,068 35,623,005 27,912,275 28,767,089 39,659,822 127,740,449 46

46 Total compiled receipts ................................... 29,546,816
Deductions:
17,343,020 22,901,820 69,397,813 47
47 Cost of goods sold .............................................. 19,224,845 17,987,980 22,211,3?3 16,672,971
2,065,528 2,185,786 3,649,026 12,155,828 48
48 Cost of operations .............................................. 2,342,585 2,536,120 2,140,969
464,226 356,011 351,071 203,081 150,754 193,066 354,282 49
49 Compensation of officers ........................................
196,595 182,103 234,895 174,008 179,295 283,330 1,064,408 50
50 Rent paid on business property ..................................
51 Repairs......................................................... 182,059 210,384 354,487 339,393 338,873 478,176 1,826,720 51
52 Bad debts....................................................... 53,139 52,816 74,904 57,325 44,335 68,773 203,062 52
483,238 1,933,017 53
53 Interest paid ................................................... 213,939 227,981 331,851 262,024 290,255
54 Taxes paid ...................................................... 475,108 577,715 813,216 802,468 612,979
, 991,998 4,257,690 54
Contributions or gifts .......................................... 24,744 24,416 34,105 24,219 19 362 23,238 73,733 55
55
56 Depreciation and amortization ................................... 478,269 499,218 713,694 587,653 664,675 1,124,836 4,932,558 56
Depletion....................................................... 55,960 59,459 111,354 133,622 113,366 105,557 1,384,293 57
57
Advertising ..................................................... 315,962 331,681 501,713 364,949 385,505 565,902 1,066,782 58
58
278,642 1,328,037 59
59 Amounts contributed under pension plans ......................... 109,049 130,234 220,467 181,215 192,405
60 Amounts contributed under other employee benefit plans .......... 38,814 46,453 68,872 51,232 55,029 65,287 366,329 60
61 Net loss, sales other then capital assets ....................... 5,921 5,352 8,059 8,070 5,612 6,617 41,034 61
62 Other deductions ................................................ 3,418,442 3,347,454 4,346,169 3,335,340 1 3,372,042 4,554,970 11,154,646 62
63 Total compiled deductions ................................. 27,599,657 26,5?5,377 32,517,199 25,463,098 1 25,953,293 35,774,476 111,540,232 63
64 Compiled net profit

(46 less 63). ....................... . ........ 1,947,159 2,025,691 3,105,806 2,449,177 2,813,796 3,885,346 16,200,217 64
2,416,323 2,776,812 3,840,756 16,032,409 65
65 Net income (64 less 36) ...........................................
* 1,928,440 1,997,310 3,067,361
66 Net operating loss deduction ...................................... 26,731 22,112 37,366 11,260 14,190 25,922 12,757 66
67 Income tax ........................................................ 871,329 922,815 1,395,510 1,106,713 1,220,127 1,783,541 6,707,914 67
68 Excess profits taX3 ............................................... 2, 574 2,742 5,409 4,164 2,896 4,212 6,742 68
1,787,753 61714,656 69
69 Total tax ................................................. 873,903 925,557 . 1,400,919 1,110,877 1,223,023
9,485,561 70
70 Compiled net profit less total tax (64 less 69 ) ................... 1,073,256 1,100,134 1,704,887 338,300 1,590,773 ~ 2,097,593
Dividends paid:
71 Cash and assets other than own stock ............................ 366,026 454 123 801,877 717,754 947,784 1,328,560 5,898,584 171
72 Corporation's own stock ......................................... 63,324 57:454 107,850 64,860 110,498 57,168 629,482 172
ISum reported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 and ending on or before June 15, 1955. See this item in textual discussion, p. 11,
2Capital stock which was not definitely designated as either common or preferred was "bulatedunder common stock.
3The excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before tnat date and reported on returns for
MANUFACTURING AND TRADE CORPORATION RETURNS
TIN. 21.-BEGLNNING AND ENDING INVENTORIES, RELATED GROSS SALES AND TOTAL ASSETS, AND AGGREGATE GROSS SALES, FOR SELECTED INDUSTRY GROUPS
Tota manufacturing Manufacturing and trade corporation returns

1anditrade Returns with both beginning and end of year inventory data
with balance sheets
corpor,t on returns
Industry In entories Invent?ries,

Gross sales Number of Gross sales Total Gros, sales Total asseta beginning of Inventories,
Numb assets ndv of y e.-r' N= b.r of and of year
returns
er of returns returns year
(r,- ..d (7~-.-d (Th-.-d (Th-d (Yb-.-d (7).-d (77-d
d.11 : -) d.]J-) d6l]-) d.11... ) b1z... ~11 ... d.11-) d.11 ...
(2) (3) (4) (5) (6) 1 (7) (8) (9) (10) (11)
Manufacturing. ................................. 120,396 259,%2,455 115,820 256,699,367 181,890,701 39,872,1091 94,053 251,539,927 176,327,823 41,200,624 39,372,322
Beverages .................................... 2,759 7,324,198 2,660 7,293,027 4,097,844 1,108,390 2,392 7,184,547 3,928,204 1,165,419 1,101,531
Food c and kindred products .................... 10,289 36,378,094 9,791 36,211,902 12,928,923 3,340,541 8,353 35,490,458 12,607,404 3,291,892 3,285,331
Toba coa- manufactures ......................... 172 3,672,699 169 3,640,733 2,896,230 1,9~5,229 144 3,634,186 2,892,731 1,879,912 1,924,736
Text,, 1 p product ......................... 5,270 11,543,621 5,111 11,401,214 8,623,017 2,325,2b8 4,267 11,066,199 8,413,170 2,307,642 2,293,130
Apparel and11 roducts made from fabrics ....... 13,750 8,592,162 13,076 8,520,530 3,369,664 1,229,241 9,815 8,084,317 3,177,143 1,236,226 1,194,982
Lumber and wood products. except furniture ... 5,684 5,05?,305 5,346 4,988,500 3,704,799 805,392 4,379 4,764,534 3,551,714 783,291 786,580
Furniture and fixtures 4,598 3,422,743 4,443 3,378,296 1,745,726 499,522 3,900 3,258,532 1,693,077 502,376 487,926
per
P. and allied product.
.......................
.................... 2,737 8,428,728 2,658 8,276,561 7,184,262 983,340 2,392 8,179,985 ?,092,198 945,315 975,243
Printing, publishing, and allied industries.. 14,158 8,081,053 13,410 7,991,690 5,906,978 690,334 9,303 7,435,769 5_340,696 707,733 683,391
Chemicals and allied products ................ 7,356 18,624,840 6,993 18,406,425 16,626,583 2,918,965 5,985 17,720,396 16,178,109 2,304,026 2,828,946
Petroleum and coal products .................. 715 2b,(,29,593 705 25,535,623 28,812,881 2,599,989 549 25,254,055 28,529,305 2,500,088 2,560,686
Rubber produ~to .............................. 793 4,528,354 752 4,490,027 2,912,388 824,465 652 4,465,268 2,898,184 826,745 822,315
Leath- and products ......................... 2,520 3,049,958 2,443 3,016,153 1,488,053 513,062 2,137 2,959,173 1,467,291 525,890 507,731
Stone, clay, and glass products .............. 4,284 6,519,612 4,079 6,484,287 5,456,300 862,025 3,556 6,372,758 5,327,553 846,780 841,497
Primary metal industries ..................... 3,241 19,158,344 3,133 19,0(,1,664 17,791,799 3,192,549 2,652 18,836,694 17,565,220 3,285,590 3,159,174
Fabricated metal products, ex~spt ordnance,
machinery, and transportation equipment. .... 11,775 13,553,606 11,490 13,452,320 8,149,487 2,265,517 9,384 13,163,324 7,95b,286 2,435,095 2,229,622
Machinery, except transportation equipment
lectri al .............................. 11,716 20,674,404 11,272 20,538,030 16,018,734 4,669,372 9,032 20,174,503 15,715,785 5,181,900 4,635,238
and
Ele trical
e machinery
c and equipment ........... 3,937 14,210,441 3,774 14,094,017 9,352,591 2,610,292 3,235 13,977,954 9,287,070 2,957,299 2,594,818
Transportation
c equipment, except motor
vehicles .................................... 1,206 10,165,523 1,110 10,013,028 6,315,886 2,126,125 910 9,995,435 6,294,579 2,145,695 2,124,639
Motor vehicles and equipment, except
electrical .................................. 1,149 20,206,785 1,121 19,969,549 12,400,068 2,483,325 1,000 19,843,107 12,350,079 2,896,844 2,478,429
Ordnance and accessories ..................... 88 435,098 77 339,742 201,886 63,009 61 333,371 193,935 ?4,760 62,555
Scientific instruments; photographic
equipment; watches, clocks .................. 2,027 3,821,587 lo970 3,772o3ll 2,690,560 826,127 lo682 3,723o465 2,656,289 882,230 820,600
Other manufacturing .......................... 10,672 5,883,707 10,237 5,823,738 3,323,942 990oO.30 8,273 5,621,897 3,211,801 1,017,876 973,222
Trade .......................................... 1 238,523 168,078,142 1 222,801 1 165,463,4?01 59,13lo799 1 18,138,316 1 174,494 154,866,5441 54,919o3611 17,587,795 1 17,507,381
Wholesale ........................... 1779: 9,
0 64 80,31,6 7 112
G8: ,5, 173 : 9,
184 79 : 211
7 92: ,_,5
116 2 933 2 8 : 312
3: 8,
1~61 52 : 7 5 73 5 : 02.363 311
" 7 3,249 8 073o 15
S:
Retail. ............................. 3 3 79 3 28 8 7 8 28:
6 :6
9035 8 79 .7 "22 4 : 0174
' 27,
'4 ' ' 01'
231 8:"
6 82 3 47
Not allocable. ............................... 21,506 8,402,601 19o959 8o283,169 3,408,262 1,002,330 14,167 7,637ol6l 3,168,103 93lo863 963,452
1 1 1 1 1 1 1 1
NOTE: See text for explarMary stata~ts and for "Description of the Sample and Limitations of Data. --
MANUFACTURING AND TRADE CORPORATION RETURNS WITH BALANCE SHEETS
T.ble 22.-BFGINNING AND ENDING INVENTORIES AND TOTAL ASSETS, BY MONTH IN WHICH ACCOUNTING PERIOD ENDED
Returns with both beginning and end of year inventory data
Returns
Month in which annual accounting period ended
Industry and item with balance
Part year
sheets Total May June returns
Jul, I August September October November December January
1955 I February March
195 April
1954 1954 1954 1954 1954 1955 5 1955 1955 1955
1954
(4) (5) (6) (7) (8) (9) (10) - (11) (12) (13) (14) (15)
(1) (2) (3) -
Manufacturing: 3,288 8,222 1,0170

115,820 94,053 2,774 2,979 4,741 3,639 3,056 50,640 2,486 2,519 5,196 3,443
Number of returns ......................................... 7,577,468 1,097,516
2,717,365 5,847,738 6,939,122 4,635,310 135,064,765 1,111,430 1,759,860 3,432,495 2,536,067 3,058,364
Total assets ............................ thousand dollars.. 181,890,701 178,327,823 2,550,323
Inventories: 689,771 1,838,020 416,106
- 943,730 1,874,947 2,130,978 1,426,054 28,510,850 340,497 537,823 931,268 663,675
Beginning of year.............................. do ....... 41,200,624 896,905
1,950,218 418,152
831,309 1,776,080 1,983,975 1,340,881 27,0`70,818 333,201 520,141 910,337 680,369 713,705
End of ye ..................................... do ....... 39,872,109 39,372,322 843,236
Trade: 14,388 2,777

7,889 6,032 4,054 91,183 9,699 5,466 9,254 6,092 5,953
Number of returns ......................................... 222,801 174,494 6,097 5,610
607,465
1,630,323 1,425,511 1,297,785 27,819,013 8,459,200 1,778,564 2,334,954 1,397,445 1,430,681 3,344,794
Total assets ............................ thousand dollars.. 59,131,799 54,919,361 1,843,137 1,550,499
Inventories: 350,104
- 404,263 560,773 448,301 455,325 8,988,936 2,409,036 640,259 778,044 424,494 428,048 1,105,331
Beginning of ye............................... do ....... 17,587,795 594,881
201,520
402,033 538,257 439,696 444,447 8,908,091 2,470,286 648,002 793,928 439,053 453,139 1,178,510
End of year.................................... do ....... 18,138,316 17,507,381 590,419
Wholesale: 639
73,884 52,705 1,610 1,704 2,513 2,045 1,628 26,503 1,665 1,734 3,059 2,166 2,348 5,091
Number of returns . ... I .................................. 1,933,199 264,647
26,933,902 24,317,019 794,467 1,041,546 849,725 821,276 834,594 13,744,829 695,122 556,249 1,173,233 696,465 911,667
Total assets .......................... thousand dollars..
Inventories: 81,495
- 301,141 232,663 293,314 4,51-3,502 278,821 204,701 40`7,033 234,473 274,759 660,876
Beginning of year .............................do ....... 7,~73,249 260,585 229,886
705,899 84,212
8 , 0`73 , 725 290,775 236,088 283,964 4,545,832 274,032 2CY7,379 415,509 244,819 289,978
End of year ..................................do ....... 8 , 342 , 120 265,693 229,545
-
Retail: 1,866
128,958 10`7,622 4,014 3,492 4,713 3,439 1,986 57,572 7,589 3,248 5,319 3,347 2,990 8,047
Number of returns ..... . . . . .............................. 287,781
28,789,635 27,434,239 989,679 450,618 675,633 513,202 341,915 12,255,488 7,662,986 1,124,779 999,823 559,246 406,424 1,166,665
Inventories: 259,384
- 8,682,683 316,624 155,822 225,498 188,931 122,697 3,944,203 2,091,362 403,800 320,463 156,611 125,206 372,082
Beeimilng of year ............................ do ....... 4CY7,011 326,961 159,781 1-32,001 393,555 107,540
End of year .................................. do ....... 8 , 793 , 866 8 , 470 , 204 306 , 041 153,857 212,896 176,547 120,205 3,816,426 2,157,383
Not allocable:
19,959 14,167 473 414 663 548 440 7,108 445 494 876 579 615 1,250 272
Number of returns . ....... ...............................
3,408,262 3,168,103 58,991 58,335 104,965 91,033 121,276 1,818,696 101,092 97,536 161,898 141,734 112,590 244,920 55,037
Inventories:
- 931,863 17,672 18,555 34,134 26,707 39,314 531,231 38,853 31,758 50,548 33,410 28,083 72,373 9,225
Beginning of year ............................ do .......
End of year .................................. do ....... 1 1,002,330 1 963,452 1 18,685 1 18,631 34,586 27,061 1 40,278 1 545,833 1 38,871 1 33,612 5 458 1 34,453 1 31,160 1 79,056 9,768
1
NOTE: See text for explanatory statements and for "Description of the Sample and Limitations of Data.-
CORPORATIONS FILING FIRST RETURN IN 1954
Table 28.-NEW BUSINEMES AND SUCCFMOR BUSDwszs, BY MAJOR INDUSTRIAL GROUP
Number of first returns

Total
tive Successor business by form of previously existing business
Major industrial group Whether new
corporation
ac New
Total or taucces:o
t
returns business S le p o-
Total Corporation Partnership Other Not stated no sta d
priet
o rehip
(1) (2) (3) (4) (5) (6) (7) (V (9) (10)
1 All industrial groups ..................................... 722,805 74,095 42,457 22,962 4,344 7,440 8,906 476 1,796 8,676 3
2 Agriculture, forestry, and fishery ........................ 8,779 793 430 285 (1) 108 130 (1) (1) 78 2
3 Farms and agricultural services ......................... 7,971 647 334 255 (1) 88 120 (1) (1)
4 Forestry ................................................ 58 -
262 (1) (1) - - 4
5 Fishery ................................................. 546 - (1~
116 66 (1) - (1) 5
6 Mining and quarrying ...................................... 9,585 1,117 672 339
7 Metal mining ............................................
(1) 189 51 106 6
1,018 253 163 70 -
60 7
8 Anthracite mining ....................................... -
140 e
9 Bituminous coal and lignite mining ...................... 1,424 86
- (1) - 64 1) (1) - (1) 9
10 Crude patrols= and natural gas production .............. 4,852 523 332 (1)
143 (1) 92 ic
11 Nonmetallic mining and quarrying ........................ 2,151- 255 167 (1)
62 (1) (1) 11
12 Construction .............................................. 36,130 6,135 3,287 2,249 182 814 1,063 (1) 172 599 12
13 Manufacturing ............................................. 120,896 9,630 5,111 3,499 670 1,377 1,127 69 256 1,020 13
14 Beverages. .............................................. 2,759 137 1) 78 (1) (1) (1)
(1) 1 (1) 14
15 Food and kindred products ............................... 10,289 705 284 347 (1)
60 104 152 (1) 74 15
16 Tobacco
t -.,
manufactures .................................... 172 - - - - - - - - 16
17 Tex ile 11 products ................................... 5,270 288 148 (1)
ill (1) (1) - 3 (1) 17
18 Apparel and products made from fabrics. ................. 13,750 1,203 799 321 (1) 135 125 - 83 18
19 Lumber and wood products, except furniture .............. 5,684 449 226 179 (1) 83 64 1 2 (1) 19
20 Furniture and fixtures .................................. 4,598 (1)
390 196 145 101 20
21 Paper and allied products ............................... 2,737 (1)
135 55 67 (1) 21
22 Printing, publishing, and allied industries ............. 14,158 925 472 338 65 119 ill (1) 115 22
23 Chemicals and allied products. .......................... 7,356 484 297 138 (1) (1) 54 (1) 2 23
24 Petroleum and coal products ............................. (1) (1)
715 (1) (1) (1) 24
25 Rubber products ......................................... (1) (1) (1)
793 65 1 25
26 Leather and products .................................... 2,520 141 93 (1) (1) (1) 26
27 Stone, clay, and glass products ......................... 4,284 367 127 190 81 52 27
28 Primary metal industries ................................ 3,241 (1)
159 61 59 (1) 28
29 Fabricated metal products, except ordnance, machinery, 11,775 1,118 539 481 65 217 152 (1) (1)
98 29
and transportation equipment.
30 Machinery, except transportation equipment and electrical (1) (1~
11,716 1,073 578 396 51 168 123 99 30
31 Electrical machinery and equipment ...................... 3,937 370 233 93 (1) (1) (1) 31
32 Transportation equipment, except motor vehicles ......... (1~
(1 (1) (1)
1,206 106 (1) (1) 32
33 Motor vehicles and equipment, except electrical ......... 1,149 95 (1) (1) (1)
2 33
34 Ordnance and accessories ................................ (1) - - -
88 (1) 34
35 Scientific instruments; photographic equipment; watches, 2,027 140 (1) - (1)
82 (1) 35
clocks.
36 Other manufacturing ..................................... 10,672 1,220 701 382 90 130 130 1 (1) 137 36
37 Public utilities .......................................... 29,122 2,258 1,140 838 140 243 395 (1) (1) 280 37
38 Transportation .......................................... (1~
21,456 1,876 1,006 641 86 177 340 3 229 38
39 ion 4,433 203 (1) 140 (1) 60 (1) 1 - 39
0 Co-11atand gas
Electric ......
utilities .............................. 1,148 (1) (1) (1) (1) - (1~ - 40
1 Other public utilities .................................. 2,085 157 91 (1)
(1) (1) - 41
2 Trade ..................................................... 238,523 25,378 12,575 10,143 2,093 3,279 3,902 149 720 2,660 42
3 Wholesale ..... *,*,* ... * ........ , ... ** ........ - ... **- 77, O~ 7,352 4,057 2,499 374 980 919 51 175 796 43
Commission merchants .................................. 10,731 1,261 862 293 (1)
(1) 91 149 106 "
5 Other wholesalers ..................................... 66,333 6,091 3,195 2,206 339 889 (1)
770 163 690 45
6 Retail .................................................. 139,953 14,767 6,587 6,782 1,521 2,066 2,611 95 489 1,398 46
7 Food .............................. ................... 10,597 1,498 721 650 156 213 236 (1) 127 47
8 General merchandise ................................... 7,545 565 332 194 51 84 (1) ( )
(1) 48
9 Apparel and accessories ............................... 18,469 1,681 878 (1)
611 156 125 283 192 49
0 Furniture and housefurnishings. ....................... 13,186 1,447 684 611 108 222 222 54 152 50
1 Automotive dealers and filling stations ............... 25,218 2,771 1,091 1,428 384 403 533 1 107 252 51
2 Drug stores.. ......... ............................... 5,916 480 231 212 (1) 83 67 - 52
3 Eating and drinking places ............................ 18,644 2,634 1,232 1,222 391 243 473 100 180 53
4 Building materials and hardware ....................... 15,992 1,460 519 781 95 292 346 - 160 54
5 Other retail trade .................. : ................. 24,386 2,231 899 1,073 138 401 407 56 71 259 55
6 Trade not allocable ..................................... 21,506 3,259 1,931 862 198 233 372 3 56 466 56
? Finance, insurance, real estate, and lessors of real 205,339 17,790 12,786 2,570 593 603 896 153 325 2,434 57
property.
8 Finance ................................................. 47,602 2,344 1,634 357 114 114 57 (1) 65 353 58
9 Banks and trust companies ............................. 14,680 56 (1) (1) - - (1) - 59
0 Credit agencies other than banks...................... 24,418 1,668 1,126 271 91 85 (1) (1) 53 271 60
1 Holding and other investment companies................ 6,899 410 305 53 (1) (1) - 52 61
2 Security and comodity-exchange brokers and dealers ... 1,605 168 -
210 (1) (1) (1) 1 1 62
3 Insurance carriers and agents ........................... 12,890 1,009 439 464 92 73 290 (1) 4 106 63
54 Insurance carriers .................................... 3,004 92 57 (1) (1) - 2 64
5 Insurance agents and brokers .......................... (1)
9,886 917 382 450 so 73- 290- 2 85 65
6 Real estate, except lessors of real property other than 139,821 14,144 10,470 1,739 387 416 549 131 256 1,935 66
buildings.
7 Lessors of real property, except buildings .............. 5,026 293 243 - - -
(1) 67
8 Services .................................................. 64,845 8,261 4,745 2,692 522 736 1,207 51 176 824 68
59 Hotels and other lodging places ......................... 7,474 936 538 341 75 49 176 57 69
0 Personal services ....................................... 12,540 1,240 611 541 60 166 235 75 88 70
1 t t,, services.
Business 15 792 2,259 1,379 678 104 207 356 202 71
2 Au ono a repair services m~ - -g .. - :
............. 6 1 151 759 401 207 90 (1) 76 151 72
3 Miscellaneous repair services, hand trades .............. 3,587 520 248 239 (1) 80 107 1 (1) 73
74 Motion pictures ......................................... 5,712 498 346 77 (1) m (1) 2 75 74
5 Amusement~ except motion pictures ....................... 6,785 1,091 611 357 73 137 123 75
6 Other services, including schools ....................... 6,804 958 611 252 (1) 82 90 95 76
r7 Nature of business not allocable .......................... 9,586 1 2,733 1 1,711 1 347 1 so 91 1
1 135 1 675 1 77
NOTE: See text for explanatory statements and for "Description of the Sample and Limitations of Data.-
T-bie 24-BALANCE SHEETS AND RELATED INCOME STATEMENTS~ BY INDUSTRIAL.DIVISION
I Returns with balance sheets by industrial division
Returns Finance,
Agricul-
without insurance, Nature of
Item otal All ture, Mining
b
w Conatruc- Ma- ac- Public Trade real estate busi
..... industrial forestry and Services not sea
sheets tion turing
f utilities and lessor a
divisions and quarryingl
of real allocable
fishery
roperty
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
1
1 Number of c nsolidated returns ...... 2,723 71 2 652 19 109 116 744 259 615 579 210 1 1
2 Number of subsidiaries
0 ................ 10,416 263 1 10:153 38 342 294 1 2,610 1,626 1,991 1,959 1,292 1 2
Assets: (M-nd d.11 ...

3 C8sh,_~*.cc_
an ......................... - - 5,157,460 5 663 85 574 33,265 1,985,084 1,496,297 293,202 1,075,464 182,826 85
4 Note. s ounts receivable ........... - - 9,173,266 9 , 796 126, 720 173,811 4,0541573 1,209 783 466 863 2,992 936 138,773 1
5 Less : Re rve f or b a d d ebt s .......... - - 272,318 2 3,750 314 210,895 15:707 13 1385
, 25:820 2,445 -
6 Inventories ............................. - - 6,183,318 2,815 69,464 10,814 3,970,630 1,339,875 553,515 19,486 196,719 -
7 Prepaid expenses and supplies ........... - - 493 , 535 125 8 , 372 2,102 304,633 138,515 16,846 11,226 11,516 -
8 States, Territories, and United States - - 280,463 352 1,655 766 30,437 4,668 6,177 236, 238 170 -
possessions.
9 United States obligations ............. - - 5,825,359 8,276 32,179 7,769 2,279,780 1,635$261 90,775 1,735,835 35,484 -
10 CtN t state d ............................ - - 152,658 - -
1,112 75,206 75,129 - l o 2ll - -
11 her
o investments ....................... - - 11,322,752 3,850 187,559 40,620 5,441,089 3,147,534 195,066 1,778,316 528,718 - 1
12 Depreciable assets ...................... - - 79,775,979 15,020 1,015,393 173,"9 23,205,104 52,666,101 752,203 1,185,958 762,751 - 1
13 Less: Accumulated amortization ....... - - 637,109 - 272 217,892 407,391 7,223 336 3 , 995 - 1
14 Less: Accumulated depreciation ....... - - 23,662,365 4,130 501,672 38,887 10,537,082 11,688,502 295,314 215,227 381 , 551 - 11
15 Depletable assets ....................... - 3,254,491 326 433,102 9,194 2,670,891 98,838 14,786 26 , 729 625 - 1
16 Less: Accumulated depletion .......... - 1,618,206 14 229,822 186 1,338,189 37,932 3,082 8 , 695 86 - 1,
17 Land .................................... - 1,153,013 1,506 15,208 12,677 495,438 - 11
280,465 52,156 129,994 165$569
18 Intangible assets ....................... - 198,997 - 17,498 481 115,190 34,879 13,674 4,093 13,182 - 11
19 Other assets ............................ - 2,089,633 1,309 34,947 . 13,817 500,864 . 1,173,954 92,613 . 229,322 42,793 , 14 11
20 Total assets ...................... - 98,870,926 44,892 1,313,539 1 439,106 32,825,061 51,151,767 2,229,872 9,176,530 1,691,049 110 20
Liabilities:
21 Accounts payable ........................ - - 4,828,629 770 78,885 71,728 2,749,886 1,154,182 420,241 245,249 10`7,507 181 Z
Bonds , notes , mo r tgages payabl e:
22 Maturity less than 1 year ............. - - 2,011,823 4,233 59,536 33,438 494,617 442,906 146,477 798,757 41,807 52 2;
23 Ma t ur it y I year or more ............... - - 27,018,147 7,123 284,177 132,484 4,697,396 19,0`72,886 292,719 1,950,122 381,240 - 2:
24 R eserves for estimated expensea l ........ - - 169,804 2,570 2,816 121 110,292 49,166 890 3,137 812 - 2,
25 Prepaid incomel ......................... - - 47,515 - 78 82 42,320 910 480 3,214 431 - 2!
26 Accrued expenses ........................ - - 3,430,613 643 62,698 7,752 1,081,593 2,078,340 70,823 58,946 69,818 - 2(
27 Other liabilities ....................... - - 7,255,544 17,425 21,844 78,452 703,839 2,034,043 121,306 4,224,485 54,090 60 2'
28 Capital stock ~ preferred ................ - - 3,223,534 1,347 56,459 7,134 784,674 2,159,725 125pO44
29 Capital stock , comon2 ........ ......... - - 23,527,943 3,435 250,097 35,698
55,868 33,283 - 21
8,630,523 13,699,293 249,435 478,754 179,977 731 Z
30 Surplus reserves ........................ - - 2,078,199 952 69,843 6,966 1,145,436 550,278 39,491 205,237 59,996 - Y
31 Surplus and undivided profits ........... - - 25,279,175 6,394 427,106 65,251 12,194,465 . 9,910,038 761 ,966 , 1 , 152 , 761 762 , 088 , 3914 3'.
32 Total liabilities ................. - - 98,870,926 1 44,89 1,313,539 1 439,106 32,825,061 51,151,767 2,228,872 9,176,530 1,691,049 110 3:
Receipts:
33 Gross sales ............................. 40,572,276 94,433 40,477,843 9 Oil 706,755 18,374 30,514,009 1,911,648 7,149,873 73,508 94,665 - 3:
34 G ross rece i pts fro. operations ..... 20,817,318 25,646 20,791,672 11184
, 68,557 443,421 1,455,721 16,595,149 196o776 935,017 1,095,847 - N
Interest on Government obligations i1'e*s*s'
amortizable bond premium):
35 Wholly taxable ........................ 86,026 145 85,881 98 695 150 31,396 21,660 1 , 832 29 , 294 556
36 Subject to surtax only................ 2,414 6 2,408 - - - 3!
5 89 803 17 1, 493 1
37 Wholly tax-exempt ..................... 10,384 - - 3E
10,384 2 74 29 1,695 301 122 7, 955
38 Other interest .......................... 311,423 1,566 6 - 3 ,
309,857 332 2,057 631 56,423 70,183 6,612 170,415 3,204 - X
~9 Rents ................................... 526,121 2,518 523,603 419 7,759 6,782 166,545 230,822 25,484 44,955 40,837 - 39
0 Royaltie. ....... ****,,*,,** ............. 91,154 877 90,277 37 6,089 1,640 44,578 20,1" 826 8,965 7,998 - 4C
1 Net short-term capital gain reduced by 5 , 087 10 5 , 077 90 273 83 661 2,694 225 1,021 30 - 41
net long-term capital loss.
2 Net long-term capital gain reduced by 154,771 438 154,333 204 7,680 1,110 69 , 613 30, 776 6 , 684 33 , 2" 5 , 020 - 42
net short-term capital loss.
3 Net gain, sales other than capital assets 50,209 145 50,064 2 3,307 1,014 2,366 17,736 2,148 23 ,490 1 - 43
,4 Dividends, domestic corporations ........ 579,892 324 579,568 3 4,547 3,901 443,565 74,855 6,681 38 , 619 7 , 397 - 44
5 Dividends, foreign corporations ......... 187,894 - 187,894 - 159
Other receipts .......................... 563 152,466 12,237 8,925 7ol34 6,410 - 45
6 293, 864 398 293,466 307 10,730 7,464 114,296. 100,399 22,753 11,434, 26,083 - 46
7 Total compiled receipts ........... 63,688,833 126,506 63,562,327 11,689 818,6871 485,162 33,053,623 19,089, 609 7,428,958 1,386,544 1,288,055 - 4?
Deductions
8 Cost of goods sold ...................... 31,390,971 62,706 31,328,265 6,736 506 112 14,881 23,319,592 1,507,888 5,856,031 57,480 59,545 - 48
Cost of o p eratio ns ................ ..... 12,043,418 18,941 12,0~4,477 510 47,521
,, 375 542 8CY.,388 9,702,885 128,"7 186,638 778,546 - 49
0 Compensation of officers . ......... : ..... 2 19 ,623 1,603 218,020 459 7 513 81628
, 93,309 31,681 32,226 28,907 15,297 - 50
1 Rent paid on bus iness property .......... B",995 2,828 842,167 119 6, 145 1 , 694 258 , 138 418 , 061 87 , 055 25,211 45,7" - 51
2 Repairs ................................. 893,632 1,476 892,156 272 13,697 3,304 800,159 41,190 10,931 10, 764 11 , 839 -
3 Bad debts... ............................ 66,648 276 86,372 52
5 lo826 442 24,867 25,025 9,978 22,210 2,119 - 53
4 Interest paid ........................... 1,105,686 1,849 1,103,837 491 13,497 6,108 190,151 687,544 19,656 173,428 12,961 1 54
5 Taxes paid .............................. 2, 072,332 3,787 2,068,545 365 26,537 5,360 627,626 1,255,030 58o541 62,Z65 32,821
6 Contributions or gifts ........... ....... 33 , 066 23 33 , 043 - 55
9 78 142 18,860 10,675 1,559 1,114 606
7 Depreciation and amortization ........... 2,875,938 4,490 2,871,448 - 56
772 40,027 13,630 1,112o321 1,555,225 49 , 215 60 ,900 39 , 358
8 Depletion ............................... 878,997 4,489 874,508 - 57
12 47,296 332 787,512 35,470 862 3 , 006 is
9 Advertising ............................. 409,130 919 - 58
408,211 49 2,365 998 254,177 49,249 59,884 9,207 32,282 - 59
0 Amounts contributed under pension plans. 646,324 285 646,039 64 18,591 2,235 313,586 278,699 19,084 8 , 062 5 , 718
1 Amounts contributed under other employee 200,822 804 - 60
200,018 15 1,534 260 122 , 165 64 , 218 8 , 214 2 , 411 1 ,201
benefit plans. - 61
2 Net loss, sales other than capital swats 30,917 339 30,578 - 2,396 60 17,962 4,172 1,530 2 , 519 - 62
63 O t h er deductions ........................ 5,472,550 20,972 5,451,578. 1,597 93,848.
1 , 939
42,187 2,490,754 1,121,358, 1,004,417 541,962, 155,442 13, 63
4 Total compiled deductions ......... 59,205,049 125,787 59,079,2621 11,475 828,983 475,803 31,235,567 16,788,370 7,347,530 1,196,084 1, 195,436 14 64
5 Compiled net profit or net loss (47 4o483,784 719 4,483,065 214 310,296
9,359 1,818,056 2,301,239 81,428 190,460 92,619 314 65
less 64).
5 Net income or deficit (65 less 37) ........ 4,473,400 719 4,472,681 212 310,370 9,330 1,816,161 2,300,938 81,306 182,505 92,613
7 Net-op eratin g loss d ed uc ti on.............. 40,152 635 39,517 314 66
61 1,422 2,607 11,046 12,849 4,513 4,221 2,798 67
3 Income tax ................................ 2,226,263 1,324 2,224,939 162 5,428 6,382 940,188 1,190,731
Excess profits taX4 ...... _ .............. 294 5
53,673 82,165 46,210 - 66
289 11 2 6 118 1 - 20 131 - 69
Total tax ......................... 2,226,557 1,329 2,225,228 173 5,430 6,388 840,306 1.190.732 53.67 82,185 46,341 - 70
L Compiled net profit less total tax (65 2,257,227 6 0 2,257,837 41 515,726 2,971 977,750 1,110,507 27,755 108 J~
2751 46,27
less 70). CC5 114 71
Dividends paid:
7 Cash and assets other than owwn stock .... 8,290 2,409,366
2,401,076 61 14,886 6,918 1,041,917 1,138,214 38,936 118, 42 8 - 72
3 1 Cor poration's own s tock ................. -1 418,473
418,4731 - 397 13 412,794 1,626 1,576 1162
7 6 - 73
umireported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 and ending on or
before June 15, 1955. See this item in textual discussion, p. 11.
2Cap tal stock which was not definitely designated as either common or preferred was tabulated under common
stock. 3Loss or deficit.
4Tbe excess profits tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on
annual accounting periods ended July through November income earned before that date and reported on returns for
1954 and returns for part years which began in 1953. 'Loss after total taxpayment.
NOTE: See text for explanatory statements and for "Description of the Sample
and Limitations of Data.-'
448404 0 - 57 - 9
124 ACTIVE CORPORATION INCOME TAX RETURNS -1954
CONSOLIDATED RETURNS WITH BALANCE SHEETS
Table 25.-BALANCE SHEETS AND RELATED INCOM STATEVENTS, BY SIZE OF TOTAL ASSETS
$25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000

Item Under under under under
Total under under under
$25 , 000 $50,000 $100,000 $250,DOO $500,000 _ $1,000,000 $2,500,000
(2) (3) (4) (5) (6) (7) _ (8)

(1)
38 90 148 334 377 362 463 1

1 Number consolidated returns with balance sheets ................ 2,652
10,153 46 105 194 465 648 640 1 , 261 2
2 Number of subsidiaries ............................................
(7~-d
r
Assets: 12,451 20,901 64,662 3
5,157,460 65 520 IpOS7 6,829
3 Cash ............................................................ 58,202 130,466 4
9,173,266 79 837 3,400 15,855 33p9O2
4 Notes and accounts receivable ................................... 1,598 4,182 5
272,318 - 33 19 299 890
5 Less : Reserve for bad debts .................................. 96,767 6
6,183,318 47 399 1,403 10,121 22,062 43,108
6 inventories ........ ............................................
493,535 13 15 65 494 1,369 1,923 4,547 7
7 Prepaid expenses and supplies ...................................
Investments, Goverment obligations : 8
280, 463 - - - 8 128 658 1,404
8 States, Territories, and United States possess i ons ........ I ...
5 , 825 , 359 1 10 32 426 577 2,414 10,090 9
9 United States obligations ..................................... - - - - - -
0 Not stated .................................................... 152,658
11, 322 , 752 47 478 957 5,539 12,571 28,693 126,000- 10
11
79,775,979 328 1,635 4,566 26,206 72,792 132,658 401,957 12
2 Depreciable assets .............................................. 1,531 630 13
637,109 - - 57 116 236
3 Less: Accumulated amortization ............................... 49p266 159,232 14
23,662,365 177 881 2,183 12,813 36,928
4 Less: Accumulated depreciation ...............................
3,254,491 - - 80 2 4,546 3,27 8 12, 577 15
5 Depletable assets ............................................... - 7,534 16
1,618,206 - - 12 4ol88 1,420
6 Less: Accumulated depletion .................................. 2,4 , 467 17
1,153,013 1 55 650 2 , 264 9 , 208 13, 250
7 Lan ............................................................ 416 2,054 3,605 6,983 18
198 997 30 110
8 Intangible assets ....................................... 5,461 9,417 25p481 19
Orther assets ............................................. 2,089,633
, 431 146 667 3,127 1
9
98,870,926 "8 3,211 10,746 58,061 134,879 264,292 733,823 2C
0 Total assets ..............................................
Liabilities: 77,517 21
4,828,629 3,587 669 2,656 13,305 27,027 37,241
2I Accounts payable ................................................
Bonds, notes, mortgages payable: 839 7,829 19p425 37,050 82,273 2~
2 Maturity leas than 1 year ..................................... 2 , 011 , 823 88 656
27 , 018 , 147 963 289 2,567 12,251 21,391 56,709 231,023 2~
3 Maturity 1 y ar or more ..............................
169,804 - 10 20 169 134 468 1,439 2A
4 Reserves for estimated expensesl ....................... :*.........
---
206 224 1,297 2,'
Prepaid income ........................ ......................... 47,515 25 19 40 39
5 5,905 7,825 23,175 2f
3,430,613 51 287 595 3,785
6 Accrued expenses ................................................
7,255,544 203 327 881 5,405 5,630 15,303 36,351 2-,
27 Other liabilities ...............................................
1,639 1,549 6,168 13,267 29,653 2E
28 Capital stock preferred ........................................ 3,223,534 32 266
23,527,943 360 1,481 2,554 22,528 30,"3 48,924 119,749 2S
29 Capital stock 1' common ........................................... 9,079 3C
2,078 199 - - 26 338 2,684 2,212
0 Surplus reserves ................................................ 39,137
25,279,175 34,861 3793 31,071 15,866 45,069 122,267 31
31 Surplus and undivided profits ................................... ,
98,870,926 "8 3,211 10,746 58,061 134, M 264,292 733,823 3~
32 Total liabilities .........................................
Receipts: 209,779 354,231 748,948 31
40,477,843 1,683 4,980 17,061 106,733
33 Gross sales ..................................................... 59,018 64p680 202,309 -Y
20p791,672 736 5,195 6,007 30,300
34 Gross receipts from operations ..................................
premium): - 15 112 220 3!
85 o881 - 1 34
35 Wholly taxable ................................................ - - - I 3(
36 Subject to surtax only ........................................ 2 ,408
10 , 384 - - - - 19 31
- 31,
37 Wholly tax-exempt ............................................. 997 3,53.4 3E
309 , 857 1 12 31 277 -
1,118
38 Other interest ..................................................
523,603 14 146 119 1,362 2,107 4,821 6,814 3~
39 Rents ........................................................... - 39 346 191 134 1,133 4(
90,277 1
~0 Royalties ....................................................... - - 21 13 45 137 181 4:
5,077
~l Net short-term capital gain reduced by net long-term capital loss 50 543 459 2 , 829 2 , 354 4;
154,333 2 34
42 Net long-term capital gain reduced by net short-term capital loss - 303 393 1 , 770 918 2 , 214 4:
50,064 29
43 Net gain, sales other than capital assets ....................... 1 237 156 230 836 41
579 , 568 2
44 Dividends, domestic corporations ................................
..........
- - 3 11 3 147 4!
187 , 894
45 Dividends, foreign corporations .................... 855 2,830 3,858 8,870 1 41
293,466 11 160 217
46 Other receipts .. ....................................-: ..........
63,562,327 2,"B 10,558 23,850 141,096 277,499 432,970 977,591 4'
47 Total compiled receipts ...................................
Deductions: 157,353 277,969 588,044 1.4
31 , 328 , 265 1,277 3,647 12,345 81,054
48 Cost of goods sold .............................................. 41,205 126,027 41
12 , 024 , 477 236 2,824 2,281 17,073 38,456
49 Cost of operations .............................................. 1,436 4,984 8,743 10,750 19,826 51
Compensation of officers ........................................ 218 , 020 134 792
50 970 3,514 6,025 7,639 14,019 5
842 , 167 103 551
51 Rent paid on business property .................................. 140 584 1,315 2,421 7,425 5;
892,156 3 55
52 Repair .......................................................... - 146 432 1,722 1,394 3,368 5,
86,372 25
53 Bad debt ........................................................
1,103,837 8 41 140 965 2,790 4,306 13,081 5
54 Interest paid ................................................... 381 2,033 4,426 6,928 21,393 5
2,068,545 39 204
55 Taxes paid ................................................... ... - 13 46 93 249 5~
33,043 1 2
56 Contributions or gifts .......................................... 6,029 8,980 28,373 5
2 , 971 448 34 235 478 2,681
57 Depreciation and amortiza ti on................................... - 1,927 5
874 ,1 508 - - 7 48 234
59 Depletion...................................................... .
408,211 138 167 283 2,124 5,060 4,692 llol86 51
59 Advertising.....................................................
646,039 1 - 65 128 421 471 2,089 6
60 Amounts contributed under pension plans .........................
200,018 1 32 51 160 360 411 1,1 62 6
61 Amounts contributed under other employee benefit plans ..........
30,578 1 6 33 367 6" 485 2 , 545 6
62 Net loss, sales other than capital assets ....................... 143,572 6
5,451,578 657 2,073 5,717 25,324 46,381 66,938
63 Ortber deductions ................................................
59,079,262 2,633 10,652 24,468 141,443 __279,819 434,916 984,286 6
o4 Total compiled deductions .. ...............................
394 3618 334? 32,320
, '1,946 6 695 6
65 Compiled net profit or net loss (47 less 64) ...................... 4,483 065 :
3 185 3 94 3618 3 2 320 3 1,965 1 6 726
4,472 681 1 347 1, 6
66 Net income or deficit (65 less 37) ................................ 3,503 6
39,517 12 209 188 730 1,755 2,225
67 Net operating loss deduction ......................................
2,224,939 5 37 109 657 1,175 1,803 6,857 6
68 Income tax. ....................................................... - -
289 - 1 6 3 51 6
69 Exc e s s p rofits t.x4 .............. ................................. -
2,225,22 5 , 37 109 658 1,181 1.806 6.908 7
70 Total tax .................................................
Compiled net profit less total tax (65 less 70) ................... 2,257,837 131 172 7 11,005 53,501 13,752 513
71
Dividends paid:
2,401,076 60 8 650 880 1,77 4:.91
603 7
1
72 Cash and assets other than own stock ............................
418.4173 _71- - 95 226 1 364'
73 Corporation-s own stock .........................................
CONSOLIDATED RETURNS WITH BALANCE SHEETS

Table 25-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY SIZE OF TOTAL ASSETS-Cotinu*d
Size of total assets-Contimed

$2,500,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $200,000,000
Item $250,000,000
'000,
under under under under under under
or more
$5 000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $250,000,000
(10) (11) (12) (13) (14) (15)

(9)
I Number of consolidated returns with balance sheets ................. 267 181 158 76 53 35 70 1
2 Nmber of subsidiaries ............................................. 948 887 1,105 833 508 850 1~663 1 2
( 7h-d &11...
Assets.
81,934 115,598 18S,873 216,996 313,0`74 403,695 3,730,775 3
3 Cash
4 Note; * ;~~ , .~~i a--*-
receivable....................................
... *-*--**---** ... --- 162 435 215,402 330 498 533,881 454,960 595 399 6,637,950 4
51566
1 5,174 61587
1 14,133 10,042 6:833 216,962 5
5 Less: Reserve for bad debts ...................................
Inventories ...................................................... 123,892 171,888 270,951 307,315 436,119 462,153 4,237,093 6
6
8,006 10,926 13,267 15,816 16,491 16,589 404,014 7
7 Prepaid expenses and supplies ....................................
577 1,711 9,(Xg 13,493 53,M 10,330 190,057 8
8 States, Territories, and United States possessiom
11,959 24,069 53,885 99,177 187,991 194,617 5,240,111 9
9 United States obligations ........................... -
- 2,323 - - .50,034 100,301 10
10 Not stated .....................................................
11 Other investments ................................................ 176,610 197,710 389,932 389,191 646,073 1,043,591 8,305,360 11
Depreciable assets ............................................... 456,11.3 742,094 1,458,873 1,608,604 2,176,908 3,606,865 69,086,378 12
12
Less: Accumulated amortization ................................ 302 2,282 3,896 6,192 2,724 20,101 599,042 13
13
14 Less: Accumulated depreciation ................................ 167,944 295,319 542,486 595,370 782,348 1,060,487 19,956,931 14
15 Depletable assets ................................................ 25,895 57,795 123,874 161,289 330,557 74,497 2,470,101 15
16 Less: Accumulated depletion ................................... 14,449 28,395 32,851 83,907 148,229 29,027 1,268,194 16
17 Land ............................................................. 34,610 32,791 85,067 74,563 65,217 210,127 600,743 17
18 Intangible assets ................................................ 6,084 8,306 32,108 26,537 15,280 13,598 83,885 18
19 Other assets ..................................................... 33,255 50,281 80,244 58,394 137,950 136,124 1,549,043 . 19
20 Total assets ............................................... 933,109 1,299,724 2,440,801 2,805,654 3,890,325 5,701,171 80,594,682 20
Liabilities:
21 Accounts payable ................................................. 92,268 131,425 186,979 292,172 267,895 188,674 3,5017,215 21
Maturity less than 1 year ...................................... 79,907 84,217 193,098 130,776 123,353 276,637 975,675 22
22
324,553 444,541 793,959 631,782 915,163 1,673,069 21,909,887 23
23 Maturity 1 year or more ...... i .................................
24 Reserves for estimated expenses ................................. 1,894 3,057 7,636 9,001 40,981 31,726 71,269 24
25 Prepaid incomel .................................................. 1,614 701 1,378 167 608 50 41,147 25
26 Accrued expenses ................................................. 67,554 47,207 87,117 76,289 115,186 170,918 2,824,719 26
27 Other liabilities ................................................ 54,386 72,143 112,937 246,368 283,051 504,451 5,918,108 27
28 Capital stock preferred ............................ 38,709 48,588 83,859 95,462 233,338 238,997 2,432,007 28
C0MM0n2..: - : ' ::::::: ............................. 115,71.3 157,513 345,392 316,637 604,897 1,038,143 20,723,609 29
29 Capital stock:
30 Surplus reserves ................................................. 19,043 39,252 72,700 105,053 120 545 92,081 1,615,186 30
31 Surplus and undivided profits .................................... 137,468 269,080 555,747 901,947 1,185,308 1,486,425 20,575,860 31
32 Total liabilities .......................................... 933,109 1,299,724 2,440,801 2,805,654 3,890,325 5,701,171 80,594,682 32
Receipts:
33 Gross sales ...................................................... 867,289 1,078,782 1,460,170 1,833,125 2,561,932 1,109,221 30,123,909 33
34 Gross receipts from operations ................................... 210,683 417,763 692,222 505,885 833,229 1,601,195 16,162,450 34
premium):
35 Wholly taxable ................................................. 238 606 1,044 1,625 3,068 2,791 76,127 35
36 Subject to surtax only ......................................... - 5 1 7 89 5 2,300 36
37 Wholly tax-exempt .............................................. 21 65 161 363 1,236 415 8, 0`73 37
38 Other interest ................................................... 2,562 3,656 4,986 15,457 9,325 32,232 235,669 38
39 Rents ............................................................ 14,104 14,626 25,771 15,775 22,147 58,388 357,409 39

40 Royalties ............................................ 1,098 863 16,324 3,727 14,611 3,733 48,0177 40
41 Net short-term capital gain reduced by net long-term, capital
---- loss 159 630 1,794 101 41 30 1,925 41
42 Net long-term, capital gain reduced by net short-term, capital loss 4,848 8,113 12,801 18,029 33,027 5,659 65,585 42
43 Net gain, sales other than capital assets ........................ 2,264 4,484 4,614 11,137 4,558 33 17,347 43
44 Dividends, domestic corporations ................................. 1,354 1,517 15,033 11,087 24,720 11,359 513,036 44
45 Dividends, foreign corporations .................................. 403 496 1,817 1,579 10,015 5,780 167,640 45
46 Other receipts ................................................... 8,910 13,565 12, 581 26,350 14,066 31,727 169,466 46
47 Total compiled receipts .................................... 1,113,933 115~5,171 2,249,319 2,444,247 3,532,064 2,862,568 47,949,013 47
Deductions:
48 Cost of goods sold ............................................... 663,476 851,589 1,164,853 1,402,173 2,077,392 844,956 23,202,137 48
49 Cost of operations ............................................... 119,347 293,317 477,551 296,362 560,280 1,097,655 8,951,863 49
50 Compensation of officers ......................................... 19,015 15,882 21,732 20,859 15,221 16,299 62,347 50
51 Rent paid on business property ................................... 17,596 20,709 28,474 24,742 37,257 52,753 627,815 51
52 Repairs .......................................................... 8,459 10,782 18,963 21,291 32,411 21,629 766,678 52
53 Bad debts ........................................................ 5,368 4,897 5,547 6,614 4,106 7,301 45,452 53
54 Interest paid .................................................... 18,212 21,509 41,079 35,547 45,757 73,757 846,645 54
55 Taxes paid .................. ...................................... 23,684 39,565 52,938 88,958 89,068 94,716 1,644,212 55
56 Contributions or gifts ........................................... 340 515 1,032 727 780 1,330 27,915 56
57 Depreciation and amortization .................................... 29,164 48,427 80,560 73,070 84,893 127,399 2,381,125 57
58 Depletion ........................................................ 3,672 4,119 14,221 35,008 17,999 10,409 786,864 58
59 Advertising ...................................................... 26,260 14,078 18,754 32,427 36,697 38,899 217,446 59
60 Amounts contributed under pension plane .......................... 5,244 6,599 10,357 14,517 18,010 18,839 569,298 60
61 Amounts contributed under other employee benefit plane ........... 1,813 2,400 4,501 3,746 7,741 5,618 172,022 61
62 Net loss, sales other than capital assets ........................ 3,769 1,206 3,329 1,660 3,522 2,948 10,063 62
63 Other deductions ................................................. 179,428 209,620 273,623 328,297 459,872 266,544 3,443,532 63
64 Total compiled deductions .................................. 1, 124,947 1,545,214 2,217,514 2,385,998 3,491,006 2,681,052 43,755,414 64
65 Compiled net profit or net loss (47 less 64) ....................... 110 914 343 31 805 58,249 41,058 181,516 4,193,599 65
66 Net incme or deficit (65 less 37) ................................. 1101935
' 1108 31,644 57,886 39,822 181,101 4,185,526 66
67 Net operating lose deduction ....................................... 3,795 3,549 9,743 2,172 2,150 352 9,134 67
68 Income tax ............................................... I ......... 9,456 10,645 31, 127 32,278 58,421 108,276 1,964,093 68
69 Excess profits tax4 ................................................ 4 5 29 59 131 - - 69
70 Total tax .................................................. 9,460 10,650_.____ 31,156 32,337 58,552 108,276 11964,093 .70
71 Compiled net profit less total tax (65 less 70) .................... '20 : 374 510,693 25,912 517,494 73,240 2,229,506 71
Dividends paid:
72 Cash and assets other than own stock ............................. 8 4 33,845
, 649 32,221 71,096 114,262 2,126,396 ~ 72
73 Corporation's own stock .......................................... 3 1 549 2,049 5,725 2,512 404,333
ISum reported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 and ending on or before June 15, 1955. See this item in textual discussion, p.11.
2Capital stock which was not definitely designated as either common or preferred was tabulated under common stock.
31,oSS or deficit.
4The excess profits tax low terminated Dec. 31~ 1953. Excess profits tax tabulated for this reportwas the tax on income earned before that date and reported on returns for annual
accounting periods ended July through November 1954 and returns for part years which began in 1953.
5I,oss after total taxpayment.
NOTE: See text for exp~anatory statements and for "Description of the Sample and Limitations of Data.~
CONSOLIDATED RETURNS WITH NET INCOME
Table 26.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY INDUSTRIAL DIVISION
Returns with balance sheets by industrial division
Ret Agricul- Finance,

Item ith t All ture, nsurance, Nature of
Total Mining and Construc Manufac- Public relal estate,
b.laou
w ce industrial forest ry, Trade services business
quarrying 'It",
I.. turing utilities and lessor. not
sheet. divisions and
fisher of real allocable
property
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)
1 Number of consolidated returns with net 1,510 32 1,478 5 67 428 179 329 292 132 -
inco a.
2 Number of subsidiaries ................... 6,785 178 6,607 23 ill 152 1,866 1,291 958 -
1,104 1,102 2
(Th.- d d. I I...
Assets:
3 Cash ................................... - - 4,673,620 5,481 34,173 25,266 808 758 1,333,196 259,524 1,030,101 177,121 - 3
4 Not a accounts receivable .......... - - 8,366,856 9,193 57,919 120,714 3:691:876
1 1,093,200 351,448 2,912,225 130,281 -
a 4
5 Les
e and
: Reserve for bad debts ......... - - 248,683 - 212 247 197,901 14,969 8,128 25,276 1,950 - 5
6 Inventorie ................ - - 5,418,935 2,737 46,835 7,182 3,474,143 1,233,233 444,492 17,645 192,668 - 6
7 Prepaid expenses and suppllea .......... - - 460,448 125 2,219 630 291,269 1.34,893 13,508 -
6,957 10,847 ?
8 States, Territories, and United - - 270,844 349 317 746 28,883 4,547 -
1,270 234,562 170 e
States possessions.
9 United States obligations ............ - - 5,679,399 7,107 6,963 7,449 2,247,210 1,568,727 81,956 1,726,789 33,198 - 9
10 Not stated ........................... - - 101,413 - 1,112 - 25,172 75,129 - - - - ic
11 Other investments ...................... - - 9,675,997 3,768 53,308 24,323 5,109,852 2,526,017 162,221 1,273,132 523,376 - 11
12 Depreciable assets ..................... - - 72,038,652 10,637 437,957 83,317 21,990,898 47,683,341 567,102 569,119 696,281 - 12
13 Less: Acemulated amortization ...... - - 597,933 - - 272 217,033 369,520 7,085 64 3,959 - 13
Less: Accumulated depreciation ...... - - 21,436,631 2,135 210,687 21,628 10,065,350 10,426,155 216,515 138,393 355,768 - 14
15 Dep letable assets ...................... - - 2,737,392 326 69,326 9,188 2,545,175 79,829 9,936 23,438 174 - 15
14
16 Less: Accumulated depletion ......... - - 1,368,338 14 28,398 186 1,299,454 31,824 2,160 6,216 86 - 16
17 1Land ................................... - - 959,015 569 5,755 7,204 467,920 201,967 34,947 81,728 158,925 - 17
18 ntangible assets. ..................... - - 158,592 - 12,884 177 95,943 25,959 11,530 2,368 9,731 - 18
19 Other assets ........................... - - 1,773,253 696 11,936 9,650 422,346 1,029,306 75,861 187,348 36,110 - 119
20 Total assets ..................... - - 88,662,831 38,839 501,407 273,513 30,419,7071- 46,146,876 1,779,90(7 7,895,463 1,607,119 - 2C
Liabilities:
21 Accounts payable ....................... - - 4,263,534 381 32,483 52,751 2,566,693 986,519 355,879 173,092 95,736 - 21
22 Maturity less than I year ............ - - 1,577,849 4,026 25,002 21,492 291,032 405,041 78,754 -
722,190 30,312 22
23 Maturity 1 year or more. ............ - - 23,002,319 6,778 95,721 47,519 4,294,296 16,964,308 214,033 1,033,080 346,584 - 23
24 Reserves for estimated expensesI. ...... - - 155,506 2,570 988 lis 102,053 45,124 805 3,056 792
- - 24
25 Prepaid income' ........................ - 45,738 - - 44 41,763 689 428 2,390 424 - 25
26 Accrued expenses ....................... - - 3,162,455 600 7,532 4,6il 1,00?,387 1,976,658 50,651 48,117 66,899 - 26
27 Orther liabilities ...................... - - 6,678,578 17,199 5,668 49,066 511,352 1,797,269 107,672 4,139,195 51,157 - 27
28 Capital stock, preferred ............... - - 2,777,595 22 26,395 4,257 615,291 1,963,786 106,827 31,384 29,633 - 28
29 Capital stock, common2 ................. - - 21,586,366 3,099 80,741 21,407 8,223,901 12,512,220 168,037 405,136 171,825 - 29
310 Surplus reserves.. ..................... - - 1,880,234 952 17,728 6,191 1,094,571 491,828 25,351 186,435 57,178 - 30
31 Surplus and undivided profits.. ........ - - 23,532,657 3,212 209,149 66,057 11,671,368 9,003,434 . 671,470 1,151,388 , 756,579 - .31
32 Total liabilities ................ - - 88,662,831 38,839 501,4CY7 273,513 30,419,707 46,146,876 1,779,907 7,895,463 1,607,119 - 32
Receipts:
33 Gross sales ............................ 36,480,367 68,097 36,412,270 7,101 315,054 13,766 27,815,338 1,859,889 6,248,040 67,206 85,876 - 33
34 Gross receipts from operations ......... 18,625,913 14,605 18,611,308 928 20,587 317,835 1,411,137 14,911,173 158,850 791,071 999,727 34
Interest on Goverment obligations(less
amortizable bond premium):
35 Wholly taxable..... .................. 83,451 128 83,323 92 190 136 30,889 20,963 1,476 29,066 511 35
36 Subject to surtax only ............... 2,392 6 2,386 - 4 - 89 785 17 1,490 1 36
37 Wholly tax-exempt .................... 10,023 - 10,023 2 45 29 1,691 292 37 7,921 6 37
343 Other interest ......................... 286,794 1,455 285,339 320 800 288 50,394 61,441 4,543 164,392 3,161 38
39 Rents .................................. 435,971 1,133 434,838 381 1,360 4,016 161,248 180,286 16,393 31,289 39,865 39
40 Royalties .............................. 82,928 874 82,054 - 1,493 130 43,087 19,993 685 8,669 7,997 40
41 Net short-term capital gain reduced by 4,308 10 4,298 90 132 19 646 2,646 200 548 17 41
net long-term capital lose.
42 Net long-term capital gain reduced by 139,873 314 139,559 193 3,361 790 64,405 28,527 5,572 32,174 4,537 42
43 Net gain, sales other than capital 38,032 87 37,945 - 77 47 866 17,024 1,303 18,627 1 43
assets.
44 Dividends, domestic corporations ....... 570,534 324 570,210 - 3,570 3,818 442,479 68,660 6,542 38,080 7,061
45 Dividends, foreign corporations ........ 186,715 - 186,715 - - 563 152,083 11,649 8,880 7,130 6,410 45
46 Other receipts ......................... 251,088 314 250,774 1 263 3,298 5,319 104,029 1 92,696 12,851 1 7,179 25,1319 146
47 Total compiled receipts .......... 57,198,389 87,347 57,111,042 9,370 349,971 -346,756 30,278,381 17,276,024 6,465,389 1,204,842 1,180,309 47
Deductions:
48 Cost of goods sold. .................... 27,937,764 42,770 27,894,994 5,212 194,273 11,642 20,956,728 1,461,371 5,157,984 53,253 54,531 48
49 Cost of operations ..................... 10,464,046 10,112 10,453,934 420 18,488 264,911 782,615 8,400,786 101,096 176,020 709,599 49
50 Compensation of officers ............... 164,582 1,040 163,542 312 3,068 7,092 68,998 27,183 21,448 22,892 12,549 50
51 Rent paid on business property ......... 683,369 2,365 681,004 90 2,593 1,164 242,261 312,377 62,123 18,364 42,032 51
52 Repairs ................................ 846,495 1,055 845,440 130 8,024 1,352 769,517 40,346 8,682 6,986 10,403 52
53 Bad debts .............................. 66,846 134 66,712 5 396 322 15,360 23,646 5,034 20,241 1,708 53
54 Interest paid .......................... 931,529 652 930,877 476 4,083 2,467 153,976 610,543 13,690 134,062 11,580 54
55 Taxes paid ............................. 1,855,444 2,525 1,852,919 276 11,786 3,681 578,376 1,138,154 47,836 42,528 30,282 55
56 Contributions or gifts ................. 32,251 20 32,231 9 76 127 18,592 10,185 1,535 1,105 602 56
57 Depreciation and amortization .......... 2,571,362 3,088 2,568,274 622 16,780 7,183 1,039,443 1,404,384 36,841 28,071 34,950 57
58 Depletion .............................. 843,007 4,271 838,736 12 24,847 332 ?75,831 33,877 819 3,000 18 58
59 Advertising ............................ 341,457 519 340,938 44 731 714 209,183 48,092 44,243 7,428 30,6503 59
60 Amounts contributed under pension plans 623,036 106 622,930 61 9,876 2,078 308,047 272,474 17,596 7,831 4,967 60
61 Amounts contributed under other employee 191,256 459 190,797 15 1,120 228 115,708 62,869 7,865 11899 1,093 61
benefit plans.
62 Met loss, sales other than capital assets 13,423 14 13,409 - 56 7 8,729 2,119 201 1,102 1,195 62
63 Other deductions ....................... 4,784,760 14,654 4,770,106 1,277 36,494 26,431 2,221,281 1,051,430 827,126 469,703 136,364 63
64 Total compiled deductions ........ 52,350,627 83,784 52,266,843 8,961 332,691 329,731 28,264,645 14,899,836 6,354,119 994,485 1,082,375 64
65 Compiled net profit (47 less 64). ........ 4,847,762 3,563 4,844,199 409 17,280 17,025 2,013,736 2,376,186 111,270 210,357 97,934 65
66 Net income (65 less 37) .................. 4,837,739 3,563 4,834,176 40`7 17,235 16,996 2,012,045 2,375,896 111,233 202,436 97,928 66
67 Net operating loss deduction ............. 40,152 635 39,517 61 1,422 2,607 11,046 12,849 4,513 4,221 2,798 67
68 Income tax ............................... 2,226,263 1,324 2,224,939 162 5,428 6,382 840,188 1,190,731 53,673 82,165 46,210 68
69 Excess profits taX3 ........... .......... 294 5 289 11 2 6 118 1 - 20 131 69
70 Total tax... ..................... 2,22 , 1329 2,225,228 173 5,430 6,388 840,306 1,190,732 53,673 82,185 46,341 70
71 Compiled net profit less total tax (65 2,621,205 2,2_34 2,618,971 236 11,850 10,637 1,173,430 1,185,456 57,597 128,172 51,593 71
less 70).
Dividends paid:
72 Cash and assets other than own stock ... 2,359,580 2,540 2,357,040 33 7,283 6,208 1,032,149 1,117,963 35,900 115,577 41,927 72
731 Corporation's own stock ................ 411,876 - 411,876 - - 13 406,892 1,626 1,462 1,467 416
. .73
ISum reported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 ander ending on or before June 15, 1955. See this item in textual discussion, p. 11.
'Capital stock which was not definitely designated as either common or preferred was tabulated und common stock.
3 The excess profits
tax law terminated Dec. 31, 1953. Excess profits tax tabulated for this report was the tax on income earned before that date and reported
annual accounting periods ended July through November 1954 and returns for part years which began in 1953. on returns for
T.bI. 2T.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY SIZE OF TOTAL ASSETS

Item, $25,000 $50,000 $100,000 $250,000 $500,000 $1,000,000
Under
Total under under under under under under
$25 , 000 $100,000 $250,000 $500,000 -$1,000,000 $2,500,000
$50,000
(1) (2) (3) (4) (5) (6) (7) (8)
1 Number of consolidated returns with balance sheets and net income.. 1,478 7 51 74 207 204 187 243 1
2 Number of subsidiaries ............................................. 6,607 7 64 92 275 306 327 573 2
(M.-d d.11 ...
Assets;
3 Gash 4,673,620 24 303 614 4,430 7,757 13,035 37,533 3
4 Note.
Less:
..and c=unta receivable .................................... 8,366,856 13 436 1,770 10,956 18,786 30,956 68,152 4
5 Reserve for bad debts ................................... 248,683 - 22 8 184 426 961 l,a26 5
6 Inventories ...................................................... 5,418,935 7 159 678 6,528 12,072 23,587 45,608 6
7 Prepaid expenses and supplies .................................... 460,448 - 6 17 324 804 1,036 2,373 7
8 States, Territories, and United States possessions ............. 270,8" - - - - 10 658 761 8
9 United States obligations ...................................... 5,679,399 - 4 2 186 290 1,470 6,616 9
10 Not stated ..................................................... 101,413 - - - - - - - 10
11 Other investments ................................................ 9,675,997 20 350 507 3,703 5,576 12,473 73,565 11
12 Depreciable assets ............................................... 72,038,652 55 856 2,200 13,952 40,239 67,935 192,285 12
13 Less: Accumulated amortization.................. 597,933 - - - 44 186 1,349 506 13
14 Less: Accumulated depreciation.................. 21,436,631 21 418 1,189 6,476 21,578 25,891 74,901 14
15 Depletable assets ................................................ 2,737,392 - - 46 2 4,515 892 1,178 15
16 Less: Accumulated depletion ................................... 1,368,338 - 9 - 4,188 344 345 16
17 Land ............................................................. 959,015 - 38 92 1,330 5,519 6,616 13,640 17
18 Intangible assets ................................................ 158,592 1 16 76 263 926 1,362 3 307 18
19 Other assets ..................................................... 1,773,253 9 88 363 1,872 2,913 3,826 11:274 19
20 Total assets ............................................... 88,662,831 108 1,816 1 5,159 36,842 73,029 135,301 378,714 20
liabilities:
21 Accounts payable ............... 4,263,534 4 380 820 8,225 12,008 19,317 36,493 21
Bonds, notes, mortgages payable: ****,*,**'****"**'****"***'*'**
22 Maturity less than 1 year ...................................... 1,577,849 35 300 275 4,955 8,786 15,237 33,427 22
23 Maturity 1 year or more ...... i ................................. 23,002,319 27 195 577 5,180 9,093 28,233 124,131 23
24 Reserves for estimated expenses ................................. 155,5G6 - 4 17 94 117 120 1,366 24
25 Prepaid incomel .................................................. 45,738 - 19 - 23 159 155 1,043 25
26 Accrued expenses ................................................. 3,162,455 5 153 293 2,4" 3,448 4,484 11,568 26
27 Other liabilities ................................................. 6,678,578 12 95 403 3,596 3,624 9,701 15,638 27
28 Capital stock preferred ......................................... 2,777,595 17 35 56 624 1,645 6,029 13,676 28
29 Capital stock,I comm=2 ........................................... 21,586,366 13 639 1,089 14,812 15,588 25,774 58,334 29
30 Surplus reserves ................................................. 1,880,234 - - 9 259 1,519 852 5,241 30
31 Surplus and undivided profits .................................... 23,532,657 35 34 1,620 33,370 17,042 25,399 77,797 31
32 Total liabilities .......................................... 88,662,831 108 1,816 5,159 36,942 73,029 135,301 378,714 32
Receipts:
33 Gross sales ...................................................... 36,412,270 178 2,091 6,818 70,198 121,156 204,909 366,681 33
34 Gross receipts from operations ................................... 18,611,308 199 3,129 3,470 17,395 35,117 46,162 121,606 34
premium):
35 Wholly taxable . ............................................... 83,323 - - 1 30 4 93 120 35
36 Subject to surtax only......................................... 2,386 - - - I - 36
37 Wholly tax-exempt .............................................. 10,023 - - - - - 12 14 37
38 Other interest ................................................... 265,339 1 4 29 234 302 737 1,688 38
39 Rents ............................................................ 434,838 5 142 79 710 1,334 2,188 3,649 39
40 Royalties ........................................................ 82,054 - - 12 151 44 30 680 40
41 Net short-term capital gain reduced by net long-term capital loss 4,298 - - - 11 22 54 175 41
42 Net long-term capital gain reduced by net short-tem capital loss 139,559 2 .34 37 341 262 1,354 1,599 42
43 Net gain, sales other than capital assets ........................ 37,945 - 26 91 234 1,645 541 1,276 43
44 Dividends, domestic corporations ................................. 570,210 2 - 120 109 101 653 44
45 Dividends, foreign corporations.................................. 186,715 - - - 3 11 3 117 45
46 Other receipts ................................................... 250,774 1 105 116 479 1,693 2,171 4,076 46
47 Total compiled receipts .................................... 57,111,042 386 1 5,533 10,653 89,906 161,699 258,356 502,334 47
Deductions :
48 Cost of goods sold ............................................... 27,894,994 125 1,415 4,519 53,467 68,814 161,261 277,691 46
49 Cost of operations ............................................... 10,453,934 114 1,774 1,063 9,293 22,705 29,210 74,042 49
50 Compensation of officers ......................................... 163,542 34 371 803 3,088 5,102 6,158 11,185 50
51 Rent paid on business property ................................... 681,004 6 304 457 1,931 3,245 4,659 6,134 51
52 Repairs .......................................................... 845,"0 1 19 43 334 875 1,321 3,504 52
53 Bad debt ......................................................... 66,712 - 7 27 254 751 741 1,462 53
54 Interest paid.................................................... 930,877 3 is 24 577 953 2,024 6,160 54
55 Taxes paid ....................................................... 1,852,919 6 ill 176 1,198 2,589 3,449 10,214 55
56 Contributions or gifts ........................................... 32,231 - - 1 13 43 76 233 56
57 Depreciation and amortization .................................... 2,568,274 7 124 248 1,352 3, 091 4,022 13,884 57
58 Depletion........................................................ 838,736 - - - 1 48 137 1,217 58
59 Advertising ...................................................... 340,938 9 70 176 1,272 3,198 2,779 6,005 59
60 Amounts contributed under pension plans .......................... 622,930 - - 60 74 281 182 1,088 60
61 Amounts contributed under other employee benefit plans .. ......... 190,797 32 28 81 204 273 510 61
62 Net loss, sales other than capital assets ........................ 13,409 - 2 2 37 270 126 313 62
63 Other deductions ................................................. 4,770,106 60 984 1 2,524 14,297 24,641 1 35,191 70,374 63
64 Total compiled deductions .................................. 52,266,843 365 5,231 10,153 87,269 157,010 251,609 484,216 64
65 Compiled net profit (47 less 64) ................................... 4,844,199 21 302 500 2,637 4,689 6,747 18,118 65
66 Net income (65 less 37) ............................................ 4,834,176 21 302 500 2,637 4,689 6,735 18,104 66
67 Net operating loss deduction ....................................... 39,517 12 209 188 730 1,755 2,225 3,503 67
68 Income tax ......................................................... 2,224,939 5 37 109 657 1,175 1,803 6,857 68
69 Excess profits tax4 ................................................ 289 - - - 1 6 3 51 69
70 Total tax............................... ...... 2,225,228 5 37 109 658 1,181 1,806 6 908 . 70
71 Compiled net profit less total tax (65 less 70) ....................
* ... --- 2,618,971 16 265 391 1,979 3,508 4,941 11,210 71
Dividends paid:
?2 Cash and assets other than own stock ............................. 2,35 - 7 613 417 607 2,764 72
73 Corporation's own stock ...................................... ... 41 - 95 226 208 185 73
See footnotes at end of table. See text for explanatory statements and for "Description of the Sample and Limitations of Data.,,
128 ACTIVE CORPORATION INCOME TAX MURNS-1954
T&W. 27.-BALANCE SHEETS AND RELATED INCOME STATEMENTS, BY SIZE OF TOTAL ASSETS-Coutinued
$2,500,000 $5,000,0()0 $10,000,000 $25,ooo,ooo $50,000,000 $100,000,000

$250 ,000 ,000
Item under under 5undcr
OOG OOO under
0DO $100-d.r
'000 under
or more
$5,000,000 $10,000,00() $2 1 $50 1000 000 $290,000,000
(10) (11) (12) (13) (14) (15)

(9)
1 Number of consolidated returns with balance sheets and net income.. 140 96 90 53 35 25 66 1
2 Number of subsidiaries ............................................. 555 471 651 612 394 691 1,599 2
Assets:
3 50,590 71,714 139,889 159,378 244,620 320,563 3,623,170 3
Cash 210,208 403,068 304,963 514,463 6,578,711 4
4 Notes-
as:and
... --* .......
receivable ....................................
...... 86,654 137,720
accounts 8,882
5 Le Reserve for bad debts ................................... 1,490 21825 4,923 4,495 5,716 216,925 5
6 inventories ...................................................... 70,342 85,178 188,998 196,875 284,446 343,260 4,161,197 6
7 Prepaid expenses and supplies.... ................................ 3, 6,260 8,769 9,766 8,251 16,103 402,860 7
8 States, Territories, and United States possessions ...... ...... 487 1,306 6,275 13,479 47,594 10,330 189,9" 8
9 United ates obligations ...................................... 7,838 16,993 40,937 81,219 143,748 176,827 5,203,269 9
10 St ....... * ................ * ... * .... * ..... , ........ * ...
Not stated. - 1,112 - - - - 100,301 10
11 Other investments ................................................ 91,342 92,884 240,829 275,012 531,906 602,340 7,745,490 11
12 Depreciable assets ............................................... 215,031 399,953 723,009 1,088,730 1,283,235 2,784,886 65,226,286 12
13 bass: Accumulated amortization................................ 238 1,320 3,860 6,192 1,524 20,101 562,613 13
14 Accumulated depreciation ................................ 81,848 170,257 298,634 399,833 496,214 832,654 19,026,717 14
15 Depletable
Less: assets.. .............................................. 4,463 23,525 75,268 50,861 116,435 44 2,460,163 15
16 Less: Accumulated depletion ................................... 2,265 5,417 24,006 22,592 46,971 8 1,262,193 16
17 Land ............................................................. 21,677 17,488 44,181 62,865 49,839 204,695 531,035 17
18 Intangible assets ................................................ 3,087 2,196 18,565 18,324 15,269 13,586 81,614 18
19 Other assets ..................................................... 15,718 26,976 38,224 38,525 1 120,754 61,646 1,451,065 19
20 Total assets ............................................... 485,267 703,486 1,403,729 1,960,603 2,601,856 4,190,264 76,686,657 20
Liabilities:
21 Accounts payable ................................................. 42,908 80,210 115,335 199,561 188,910 157,678 3,401,685 21
22 Maturity less than I year ...................................... 40,378 41,355 84,487 94,5" 67,597 211,098 975,375 22
23 MAturity 1 year or more ...... i ................................. 127,969 195,530 310,588 367,744 504,489 1,116,870 20,211,693 23
24 Reserves f r estimated expenses . ................................ 870 4,608 7,291 1,276 37,504 30,970 71,269 24
25 Prepaid income ................................................... 1,032 364 1,050 147 589 10 41,147 25
26 Accrued expenses ................................................. 15,132 29,523 57,035 53,931 73,022 149,859 2,761,558 26
27 Other liabilities ................................................ 24,499 37,627 44,058 146,047 269,629 366,966 5,756,683 27
28 Capital stock preferred ......................................... 25,243 24,273 42,361 53,374 127,415 207,315 2,275,532 28
29 Capital stock,, common2 ........................................... 64,846 83,277 210,755 211,808 370,893 758,936 19,769,602 29
30 Surplus reserves ................................................. 9,973 22,897 45,990 89, 069 78,737 55,718 1,569,970 30
31 Surplus and undivided profits .................................... 132,417 183,822 484,779 1 743,102 883,071 1,134,844 1 19,852,143 31
32 Total liabilities .......................................... 4 L5 703,486 1,403,729 1,960,603 2,601,856 4,190,264 76,686,657 32
Receipts:
33 Gross sales ...................................................... 456,262 633,814 1,029,676 1,291,199 1,383,101 734,974 30,111,213 33
34 Gross receipts from operations ................................... 128,614 294,977 465,955 414,639 634,569 1,443,366 15,002,110 34
premium):
35 Wholly taxable ................................................. 148 392 778 1,110 2,373 2,608 75,666 35
36 Subject to surtax only ......................................... - 2 1 7 84 5 2,286 36
37 Wholly tax-exempt .............................................. 14 52 153 361 1,139 210 8,068 37
38 Other interest.. ................................................. 1,380 1,134 3,651 11,989 7,718 26,799 229,673 38
39 Rent............................................................. 9,173 9,451 13,078 12,847 15,720 50,702 315,760 39

40 Royalties ........................................................ 808 587 14,072 2,878 11,259 3,456 48,077 40
41 Net short-term capital gain reduced by net long-tem capital loss 36 183 1,758 70 34 30 1,925 41
42 Net long-term capital gain reduced by net short-term capital loss 3,186 6,244 9,583 16,346 30,746 5,649 64,176 42
43 Net gain, sales other than capital assets.. ...................... 2,004 3,409 1,688 10,002 351 6 16,672 43
44 Dividends, domestic corporations ................................. 788 1,378 14,136 10,799 24,205 10,744 507,175 44
45 Dividends, foreign corporations .................................. 326 477 1,495 1,463 9,987 5,780 167,053 45
46 Orther receipts ................................................... 4,470 9,075 6,916 22,929 9,725 25,502 163,516 46
47 Total compiled receipts .................................... 607,209 961,175 1,562,940 1,796,639 2,131,011 2,309,831 46,713,370 47
Deductions :
48 Cost of goods sold ............................................... 336,304 5D0,796 793,467 969,708 1,000,076 516,042 23,191,109 48
49 Cost of operations ............................................... 74,097 209,299 330,399 241,715 399,838 998,801 8,061,584 49
50 Compensation of officers ......................................... 11,491 9,143 15,110 14,992 10,239 13,817 62,009 50
51 Rent paid on business property ................................... 11,218
, 11,122 20,608 17,829 24,254 39,970 539,267 51
52 Repairs .......................................................... 4 792 6,039 14,033 14,250 15,881 18,294 766,054 52
53 Bad debts ........................................................ 1,163 1,771 4,496 3,491 1,451 5,852 45,226 53
54 Interest paid .................................................... 7,052 10,493 17,743 21,414 25,668 47,495 791,253 54
55 Taxes paid ....................................................... 12,187 20,624 35,101 70,413 64,120 73,759 1,558,970 55
56 Contributions or gifts ........................................... 321 314 1,015 725 753 1,250 27,487 56
57 Depreciation and amortization .................................... 14,076 27,643 43,260 49,280 46,021 91,983 2,273,283 57
58 Depletion. ...................................................... 1,999 2,315 9,061 25,315 8,086 3,766 786,791 58
59 Advertising ...................................................... 7,974 7,349 13,341 23,786 23,413 34,417 217,149 59
60 Amounts contributed under pension plane .......................... 3,700 4,277 7,196 12,308 10,403 18,261 565,100 60
61 Amounts contributed under other employee benefit plane ........... 1, 07c) 1,092 2,974 3,094 4,177 5,231 172,022 61
62 Net lose, sales other than capital assets ........................ 298 481 242 232 630 730 10,046 62
63 Other deductions ................................................. 95,767 120,785 175, 090 247,207 349,026 221,289 1 3,412,671 63
64 Total compiled deductions .................................. 583,538 933,543 1,483,136 1,715,759 1,984,036 2,090,957 42,480,021 64
65 Compiled net profit (47 less 64) ................................... 23,671 27,632 79, 804 80,880 146,975 218,874 4,233,349 65
66 Net income (65 less 37) ............................................ 23,657 27,580 79,651 80,519 145,836 218,664 4,225,281 66
67 Net operating loss deduction ....................................... 3,795 3,549 9,743 2,172 2,150 352 9,134 67
68 Income tax ......................................................... 9,456 10,645 31,127 32,278 58,421 108,276 1,964,093 68
69 Excess profits tax~ ................................................ 4 5 29 59 131 - - 69
70 Total tax .................................................. . 9,460 10,650 31,156 32,337 . 58,552 108,276 1,96_
40~3A 70
71 Compiled net profit less total tax (65 less 70) .................... 4,211 16,982 48,648 48,543 ~ 88,423
31 1110
06 591 269 2561
Dividends paid:
73
72 1 r-
Co%.r
h -dti....
a ..t,
oWnother
a than own stock ............................. 7,018 5,661 30,529 27,589 61 1 '7 2 3 72
71
took .......................................... 288 659 1,409 755 2:6 404,333
94 73
ISum reported on returns with balance sheets filed for tax years beginning after Dec. 31, 1953 and ending on or before June 15, 1955. See this item in textual discussion, p. 11.
Capital stock which was not definitely designated as either common or preferred was tabulated under common stock.
I
'Deficit.
NOTE: See text for explanatory statements and for -'Description of the Semple and Limitations of Data."
Table 28.-NET INCOME, TAXES, FOREIGN TAX CREDIT CLAIMED, AND TYPE OF INCOME FROM FOREIGN SOURCES, BY MAJOR INDUSTRIAL GROUP
Returns with and without Form 1118

statements filed in support of Returns with Form 1118 statements filed in support of credit claimed
credit claimed
Credit Income from foreign sources Credit

Total tax claimed than Total tax a laimed
Income other Foreign
Major industrial group before for before for
Dividends
Number divi ends'
Number Net income foreign foreign Net income foreign taxes foreign
of of paid taxes
tax credit taxes tax credit
returns returns of
Number Nui~ber Amount
paid paid
.3 (7h ...d
(7h-...d (71 ...d (Tb-...d 'h-...d d.1 1 :~d
( Th- (Th- -d (Th-.-d (Th--d
) returns Amount returns
of
d.1 I) d.11 ... ) d.1 I) d.11- d.1 I M) d.11 ... ) d.11.,,) d,11-.)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10). (11) (12) (13)
7,247,355 725,549 2,422 15,252,577 1,087 487,996 1,816 1,058,039 6,713,990 699,937 630,808 1
1 All industrial groups .......................... 3,215 16,564,910
38 7 30 23 951 14 597 9,319 9,273 2

2 Agriculture, forestry, and fishery............. 41 60,974 26,153 11,423 36
2
3 Farms and agricultural services .............. 21 57 919 25 196 11 099 16 35;022
' ( )
(, ((,)) 10 22 720 13 640 8 952 8 949 3
(2) (2 ) (2 ) (2) (2)
4 Forestry..................................... 4
- - 5
5 Fishery ......................................
499,368 237,705 159,042 55 459,783 12 1,412 49 310,535 222,870 161,506 154,952 6

6 Mining and quarrying ........................... 62
15,162 16 128,548 4 85 16 35,858 58,865 15,354 1.3,899 7
7 Metal mining ................................. 17 132,522 60,370
1 203 1 12,201 1 2 1 432 1,162 203 203 8
8 Anthracite mining ............................ 12,201 1,162
3 391 2 86 - - 133 27 27 9
9 Bitumi ous coal and lignite mining. .......... 5 625 177 28
Crude patrols= and natural gas production... 37 338,798 173,328 143,646 33 313,401 5 1,239 30 274,228 160,C42 145,919 140,820 10
10
2 5,242 - - 2 17 2,668 3 3 11
Ll Nonmetallic mining and quarrying............. 2 5,242 2,668 3
92 81,956 37,085 6,801 72 77,160 20 2,826 64 16,785 35,001 7,784 6,488 12

12 Construction...................................
1,415 10,609~897 5,154,201 432)723 1,127 9,753,392 497 393,923 888 501,281 4,780,356 440,431 385,720 1.3
L3 Manufacturing ..................................
10 92,415 48,732 1,631 9 92,338 4 923 8 3,239 48,716 1,799 1,629 14
14 Beverages ....................................
95 536,203 274,369 16,308 71 429,210 37 26,546 49 9,075 217,980 16,755 15,672 15
15 Food and kindred products ....................
72,194 438 6 139,030 3 532 5 473 71,904 423 423 16
16 Tobacco manufactures.. ....................... 22 139,820
17 Textile-mill products ........................ 49 95,674 46,984 1,564 40 84,153 20 2,267 31 2,125 42,060 1,495 1,445 17
18 395 344 18
18 Apparel and products made from fabrics ....... 26 14,763 7,427 357 19 13,657 3 166 906 6,887
19 Lumber and wood products, except furniture ... 18 14,104 5,359 265 15 4,123 4 22 2-3 869 1,307 316 258 19
20 Furniture and fixtures.. ..................... 26 27,746 14,084 1,226 22 26,472 5 1,561 18 1,0`71 13,450 1,223 1,223 20
21 Paper and allied products .................... 62 355,437 176,886 3,737 50 324,922 24 5,535 34 4,688 161,758 3,937 3,532 21
22 Printing, publishing, and allied industries.. 93 112,034 53,635 3,048 69 101,225 28 5,032 47 3,492 48,108 3,394 3,009 22
23 Chemicals and allied products ................ 219 1,685,364 813,088 33,944 190 1,649,217 74 51,131 163 43,108 795,514 29,408 28,440 23
24 Patrols= and coal products .................. 21 1,217,172 452,400 222,350 16 925,337 12 107,909 13 324,107 363,409 236,732 200,882 24
25 Rubber products .............................. 22 237,790 118,573 15,079 17 173,889 7 22 488 14 12,828 85,396 13,965 13,964 25
26 Leather and products......................... 12 9,748 5, 027 42 8 8 , 998 1 (3) 7 125 4 , 660 20 22 26
27 Stone, clay, and glass products.. ............ 42 350,768 177,310 10,063 35 309,845 20 8,428 28 3,726 157,243 4,802 4,490 27
28 Primary metal industries ..................... 47 850,292 428,035 20,490 40 838,204 20 7,401 32 36,465 422,053 32,121 20,484 28
29 Fabricated metal products, except ordnance~ 139 330,037 163,929 11,405 104 294,780 55 19,592 69 5,910 146,560 11,556 11,190 29
30 Machinery, except transportation equipment 246 817,608 415,339 27,146 210 70`7,123 83 28,266 176 10,486 358,739 18,601 16,381 30
and electrical.
31 Electrical machinery and equipment.. ......... 78 794,013 393,770 1.3,800 68 706,955 28 17,325 53 19,164 355,123 13,276 12,667 31
32 Transportation equipment, except motor 38 356,381 174,816 3,609 25 354,906 10 4,029 24 5,554 174,084 3,649 3,577 32
vehicles.
33 Motor vehicles and equipmentexcept 23 2,211,447 1,123,820 40,550 23 2,211,447 12 75,080 18 8,882 1,123,820 40,750 40,550 33
electrical.
34 Ordnance and accessories ..................... 1 15,988 8,303 24 1 15,988 1 46 - - 8,303 24 2,4 34
35 Scientific instruments; photographic 43 295,994 151,674 4,219 38 291,055 25 7,302 26 3,725 149,146 4,434 4,138 35
36 Other manufacturing .......................... 83 59,099 28,447 1,428 51 50,518 21 2,342 42 1,263 24,136 1,366 1,376 36
37 Public utilities ............................... 119 1,771,835 882,656 17,135 94 1,720,410 26 13,006 81 38,227 861,569 16,618 16,255 37
38 Transportation ............................... 90 540,476 256,542 5,999 69 497,882 11 1,686 64 21,056 239,097 6,120 5,838 38
39 Communication ................................ 16 1,083,896 553,183 1,781 12 1,075,065 3 2,291 11 5,950 549,541 1,063 1,062 39
40 Electric and gas utilities ................... 13 147,463 72,931 9,355 13 147,463 12 9,029 6 11,221 72,931 9,435 9,355 40
41 Other public utilities ....................... - - - - - - - - - - - - - 41
42 Trade .......................................... 428 671,634 310,550 55,653 269 571,224 94 31,110 209 39,207 260,527 23,998 23,095 42
43 Wholesale .................................... 333 308,829 147,854 50,106 233 214,129 84 22,179 176 37,620 100,261 18,926 18,129 43
44 Commission merchants ....................... 39 9,953 4,216 382 28 9,639 4 30 26 1,258 4,105 485 354 44
45 Other wholesalers .......................... 294 298,876 143,638 49,724 205 204,490 80 22,149 150 36,362 96,156 18,441 17,775 45
46 Retail ....................................... 72 361,783 162,265 5,524 21 356,755 9 8 905 18 1,548 160,119 5,062 4,956 46
47 Food ....................................... 5 5,538 2,786 8 2 5,047 1 (3) 1 14 2,545 2 2 47
48 General merchandise ........................ 13 349 146 156 369 4 782 12 349,124 6 8,901 11 1,039 156,369 4,833 4,780 48
(2)
49 Apparel and accessories.................... (i ) ( i) ( i) - - - - - - - - - 49
50 Furniture and housefurnishings .............. 1 170 83 2 1 170 - - 1 15 83 2 2 5C
51 Automotive dealers and filling stations.... 7 302 105 55 - - - - - - - - - 51
52 Drug stores ................... 1 2 287 967 3 - - 52
(2) i - - 53
53 Eating and drinking places .... ( ) (1) (1)
54 Building materials and hardware ............ 7 906 379 3 1 649 1 2 1 9 311 2 2 54
55 Other retail trade ......................... 15 2,959 1,396 632 5 1,765 1 2 4 471 811 223 170 55
56 Trade not allocable.......................... 23 1,022 431 23 (2) 1 26 (2) (2) (2) (2) 56
(1) (1)
57 Finance, insurance, real estate, and lessors of 805 2,729,553 525,902 27,502 571 2,516,476 402 40,509 311 90,810 483,029 30,333 25,588 5?
real property.
58 Finance ...................................... 448 643,160 253,729 19,894 356 586,522 276 37,191 158 1.3,725 233,701 22,092 18,614 58
59 Banks and trust companies.................. 39 309,930 135,810 3,425 25 268,954 6 116 22 9,984 118,963 3,489 3,067 59
60 Credit agencies other then banks........... 36 181,304 91,003 7,155 26 181,229 7 9,078 24 8,427 91,003 7,034 6,976 6C
61 Holding and other investment companies ..... 332 146,726 25,260 9,177 291 132,137 249 27,695 107 44,713 22,191 11,482 8,484 61
62 Security and commDdity-exchange brokers and 41 5,200 1,656 127 14 4,202 14 302 5 27 1,544 87 87 62
dealers.
63 Insurance carriers and agents ................ 186 2,059,497 262,834 7,362 139 1,906,640 63 2,608 117 76,538 241,211 7,981 6,730 63
64 Insurance carriers ......................... 160 2,046,150 258,531 6,644 119 1,893,460 52 1,206 106 76,230 236,971 7,238 6,012 64
65 Insurance agents and brokers. 26 13,347 4,303 718 20 13,180 11 1,402 11 308 4,240 743 718 65
66 Real estate, except lessors of real property
-**-***- 166 24,055 8,438 20`7 71 20,473 59 519 34 516 7,216 210 195 6E
67 Lessors of real property, except buildings ... 5 2,841 901 49 5 2,841 4 191 2 31 901 50 49 6~
68 Services ....................................... 253 149,673 73,103 15,270 198 116,055 25 5,143 184 37,243 56,041 9,948 9,437 6E
69 Hotels and other lodging places .............. 5 1,973 527 2 4 1,770 4 14 2 45 455 7 2 69
70 Personal services ............................ 3 4,294 2,174 27 2 4,235 - - 2 113 2,149 26 26 7C
71 Business services ............................ 83 53,284 24,596 3,738 57 50,026 9 1,714 52 13,168 23,141 3,058 3,012 71
72 Automotive repair services and garages ....... - - - - - - - - - - - - - 72
73 Miscellaneous repair services, hand trades ... 1 486 247 3 - - - - - - - - - 731
74 Motion pictures .............................. 122 82,944 42,"3 11,102 102 54,669 10 3 414 96 23 086 27,833 6,603 6,196 74
75 Amusement, except motion pictures ............ 19 4,460 2,163 112 is 4,166 1 1 2,016 1.53 100 7!
76 Other services, including schools ............ 20 2,232 953 286 15 1,189 1 (.1 2 447 101 101 7E
1 0)
77-1 Nature of business not allocable ............... [ - - - - -1 - , - 2
-1 -1 -1
'Amounts shown for income from foreign sources other than dividends were reduced by negative amounts.
2Sampling variability of this item was too large to warrant showing it separately. However, this value "a included in each total.
'less than $500.
4Defieit.
6
Table 29.-NET INCOME, TAXES, FOREIGN TAX CREDIT CLAIMED, AND TYPE OF INCOME FROM FOREIGN SOURCES, BY SIZE OF TOTAL ASSETS

Returns with Form 1118 statements filed in support of credit claimed
statements filed in support of credit claimed
Income from foreign sources

Si ze o f t ot a l asset s Total tax Credit Total tax Credit
Net before claimed for Net Foreign 1
Income other b efore c aimed for
Number o f income foreign foreign Number of income Dividends ta,xes
than dividends' foreign t.f0reign
returns tax credit taxes paid returns paid
tax credit xe. paid
Number of Amount Number of Amount
(7h--d (Ih--d (II...-d ,bll =d (Th...-d (Tb--d (Th...-d (77....d (71-d
returns returns
d.11 ... dD11-) d.1 I) &I I ... d.11.,.) d.1 I... d.11 ...
(2) (3) _(4) (5) (6) (7) (9) (9) (10) (11) (12) (13)
Under $25,000 .................................................................... 88 840 252 105 73 82? (2) 51 343

(2) 251 108 104
$25,000 =der $50,000 ............................................................ 66 348 85 39 (2) (2) (2) (2) (2) (2)
(1) ~2) (1)
$50,000
, -der $100,000 ................................................. o ......... 103 1,7?0 552 332 79 1 429 (1) (2) 58 1,087 455 320 286
$100 000 -der $250,000 .......................................................... 304 7,906 2,755 1,317 145 51189 (2) 136 2,304
, (1) 1,861 1,436 1,111
$250,000 -der $500,000 .......................................................... 252 13,"8 4,512 1,236 162 9,030 72 538 ill 2,143 3,057 1,054 872
$500,000 under $1,000,000 ........................................................ 3316 28,483 10,645 2,914 239 20,305 77 906 174 7,435 7,249 2,956 2,324
$1 000,0DO under $2,500,000 ...................................................... 479 102,485 44,025 7,797 316 68,082 146 1 512 202 15,614 28,537 6,981 5,591
$2:500,ODO -der $5,000,000 ...................................................... 344 148,586 63,077 7,718 263 121,473 125 5:293 180 16,605 51,734 7,535 6,602
$5,000,000 =der $10,000,000 ..................................................... 260 232,515 108,859 9,203 235 214,051 112 6,395 173 23,077 100,505 8,909 8,056
$10,000,000 -der $25,000,000 .................................................... 334 631,588 299,784 25,109 307 588,660 168 22,762 219 47,287 282,007 25,003 22,867
$25,000,000 under $50,000,000 .................................................... 172 705,028 331,465 31,546 154 628,641 83 24,041 117 41,531 296,798 27,816 24,849
$50,000,000 -der $100,000,000 ................................................... 151 1,134,802 547,572 48,233 137 1,032,699 85 61,747 120 54,962 498,350 47,151 43,022
$100,000,000 under $250,000,000 .................................................. 135 1,852,142 872,589 45,347 118 1,626,118 70 41,277 100 52,01-1 763,310 32,795 31,791
$250,000,000 or more ............................................................. 152 11,678,959 4,949,319 542,927 132 10,917,983 75 321,915 124 790,397 4,671,059 536,419 482,256
Total ...................................................................... 3,176 16,538,900 7,235,4911 723,813 2,400 15,234,690 1,085 1 487,745 1,7951 1,054,916 6,705,21.9 1 698,5191 629,755
Balance sheets not available ..................................................... 39 26,010 11,864 1,736 22 17,887 2 1 251 211 3,123 8,771 1 1,4181 1,053
Grand total ................................................................ 3,215 16,564,910 7,247,355 725,549 2,422 15,252,577 1,0871 487,996 1 1,8161 1,056,0391 6,713,990 1 699,9371 630,808
1
'Amountsshown for income from foreign sources other than dividends were reduced by negative mounts.
2Sampling variability of this item was too large to warrant showing it separately. However, this value was included in each total.

Table 30-NET INCOME, TAXES, FOREIGN TAX CREDIT CLAIMED, AND TYPE OF INCOME FROM FOREIGN SOURCES, BY SIZE OF MET INCOME

statements filed in support of credit claimed
Income from foreign sources

Size of net income Total tax Credit t Total tax Credit
Net before claimed for Income other Foreign
returnsof Net Dividends before claimed for
Number of income foreign foreign Number neome than dividends ' t axes
foreign foreign
returns tax credit taxes paid p aid
ax credit taxes paid
Number of Amount Number of Amount
(77-.-d (7~--d (Th-.-d (72-d returns (7h...-d returns (7h--d (Yh--d (7b--d (7h--d
d.11... d,11... d.11.,.) &11... dbil ... d.11...) d.11... d,11... &11...)
(2) (3) (4) (5) (6) (7) (8) (9) - (10) (1-1) (12) (13)
-
Under $1,000 ..................................................................... 51 18 3 3 (2) (2

) (2)
(2) (2) (2) (2) (2)
(2)
$1,000 under $2,000 .............................................................. 47 71 (2) (2) 2 2) (2)
(2)
(2)
(1) (2) (2) (2)
t2 : 000 =der $3 000. ) 48 114 25 16 36 86 1 (3) 35 98 is 23 16
3 000 =der $4:000.:::::::: * .' :::: ' ::::::::: * : '**. '* .'*..* : .* ..
' * : '..' : ' ::::::::: ::: ... (2 (2) (2) (2) 2 7 1 3 1 8 2
(2) (2) (2) 2 2
$4,000 under $5,000 .............................................................. (2) (2) (2) (2) (2) (2) (2) (2)
(1) (1)
$5,000 -der $10,000 ............................................................. 145 1,107 257 305 91 710 (2) 78 343 194 191
(1) 77
$10,000 under $15,ODO ............................................................ 91 1,133 271 121 48 596 3 31 44 287 147 84 53
$15,000 under $20,000 ............................................................ 103 1,779 497 232 67 1,172 (2) (2) 56 889 337 190 185
$20,000 under $25,000 ............................................................ 64 1,462 379 118 (2) (2) (2) (2) (2) (2) (2)
(1) (2)
$25,000 under $50,000 ............................................................ 352 13,403 3,538 944 243 9,(Y71 104 820 157 2,975 2,377 1,185 781
$50,000 -der $100,000 ........................................................... 320 23,698 7,497 2,081 240 18,138 112 1,417 166 4,828 5,706 2,151 1,755
$100,000 -der $250,000 .......................................................... 418 68,382 26,739 5,384 306 49,455 121 2,075 214 10,526 18,943 4,687 3,939
$250,000 -der $500,000 .......................................................... 319 114,458 45,415 6,094 242 87,391 108 3,493 178 11,472 34,108 5,242 4,518
$500,000 under $1,000,000 ........................................................ 275 196,411 86,940 12,254 225 163,127 96 9,250 166 21,239 71,962 12,91-1 10,432
$1,0C10,000 under $5,000,000 ...................................................... 536 1,251,968 562,029 48,061 488 1,134,353 241 51,689 377 90,853 517,081 51,059 43,548
t5,000,000
, under $10,000,000 ..................................................... 153 1,114,809 490,213 34,199 138 992,542 81 22,966 121 54,092 437,533 26,834 24,625
10 000,000 or more .............................................................. 1 239 1 13,775,877, 6,023,489 1 615,707 1 210 1 12,795,200 1 140 1 396,043 1 179 1 870,093 1 5,625,491 595,250 540,794
Total ...................................................................... 1 3,215 16,564,910 7,247,355 725,549 1 2,422 1 15,252,577 1 1,087 1 487,996 1 1,816 1 1,058,039 1 6,713,990 699,937 630,808
1 1 1
'Amounts shown for income from foreign sources other than dividends were reduced by negative amounts.
3Less than $5CO.
NOTE: See text for explanatory statements and for "Description of the Sample and Limitations of Data.'-
ACTIVE CORPORATION INCOME TAX RErURNS-1954 131
Table 81.-NET INCOME, WESTERN HEMISPHERE TRADE CORPORATION DEDUCTION, TAXES, FOREIGN TAX CREDIT, AND TYPE OF INCOME FROM FOREIGN SOURCES, BY MAJOR INDUSTRIAL GROUP
Returns with credit claimed for foreign taxes paid
Total
Western Hemisphere trade Income tax Credit

corporation deduction bef ore for- claimed for
Net income
Number of eign tax foreign
returns Amount credit taxes paid
Number of (7~--d... (77. -d
(7b-.-d (7h-.-d
re ns dollar.) doll dollar.)
dollar.)
(2) (3) (4) (5) (6)
gMUpS2 ........................................................................ 278 2,695,414 274 131,924 1,228,802 300,166 1

1 All industrial
6 31,658 6 8,525 11,991 9,346 2

2 Agriculture, forestry, and fishery ............................................................
6 31,658 6 8,525 11,991 92346 3
3 Farms and agricultural services ............................................................. - - -
- - - 4
4 Forestry .................................................................................... - -
- - - -
5 Fishery.. ...................................................................................
25 44,912 25 12,1!59 16,682 12,325 E
6 Mining and quarrying2 .........................................................................
12,337 8,991
7 Metal mining2 ............................................................................... 13 32,937 13 8,823
-
- - - - -
8 Anthracite mining ........................................................................... -
- - - - - S
9 Bituminous coal and lignite mining ..........................................................
Crude petroleum and natural gas production 2 .... _ .......... ............................... 12 11 , 975 12 3 , 336 4,345 3,334 1C
LO - - -
Nonmetallic mining and quarrying ............................................................ - - - 11
Ll
Construction2 ................................................................................. 16 14,286 16 22529 52263 2,477 1~
L2
. .... .. .......... _ ........................................................... 60 1,441,587 58 92,400 609,548 250,790 E
L3 Manufacturing2
2 904 2 243 331 329 14
L4 Beverages ...................................................................................
6,955 11 1,711 2,658 1,880 if
L5 Food and kindred productS2 .................................................................. 12
L6 Tobacco manufactures ........................................................................ 1 11 1 3 3 2 1(
- - - - - - 11.
L7 Textile-mill products .......................................................................
- - - - 1E
L8 Apparel and products made from fabrics ......................................................
- - - - - 1~
L9 Lumber and wood products, except furniture ..................................................
Furniture and fixtures ...................................................................... 2 186 2 50
- 63 45 2(
?0
1 289 1 78 104 104 21
21 Paper and allied products ...................................................................
1 1,055 1 284 395 394 2;
?2 Printing, publishing, and allied industries .................................................
productS2 ...... ........................ I ............................... 21 14,753 21 2,288 6,496 2,893 2:
23 Chemicals and allied
prodUntS2 ................................................................ 5 923,535 5 73,936 347,197 219,811 2'
?4 Petroleum and coal
25 Rubber products ............................................................................. 1 293 1 79 106 74 2!
- - - - - - 2(
26 Leather and products ........................................................................
- - 2'
27 Stone, clay, and glass products .............................................................
................................................................... 5 440,956 4 112600 2252979 17,665 2~
?8 Primary metal industrieS2
2,610 3 703 975 837 Z.
29 Fabricated metal products, except ordnance, machinery, and transportation equipment ......... 3
30 Machinery, except transportation equipment and electrical ................................... 1 91 1 25 29 29 3(
31 Electrical machinery and equipment2 ......................................................... 1 18,183 1 872 9,006 5,394 3:

............................................ 2 28,753 2 294 14,894 1,271 3;
32 Transportation equipment, except motor vehicleS2
- - - - - - 3:
33 Motor vehicles and equipment, except electrical .............................................
- - - - - - 3,
Ordnance and accessories ....................................................................
............ ...............
Scientific instruments; photographic equipment; watches, clockS2 2 3,013 2 234 1,312 72 31
35
'4 - -
- - - - 31
36 Other manufacturing .........................................................................
11 1,051,390 11 5,415 535,641 82513 3'
37 Public utilitieS2 .............................................................................
Transportation............................................................................. 1 9 5,641 9 1,518 1,812 468 31
36
39 Communication2 .............................................................................. 1 1,028,069 1 34 526,583 800 Y
W Electric and gas utilitieS2 ................................................................. 1 17,680 1 3,863 7,246 7,245 4(
- - - - - - 41
41 Other public utilities ......................................................................
42 Trade2 ........................................................................................ 92 472074 91 9,293 18,944 8,058 4;
43 Wholesale2 .................................................................................. 73 462206 72 9,060 18,664 72859 4:

44 Commission merchants ....................................................................... 7 2,058 6 554 746 261 4,
45 Other wholesalerS2 ........................................................................ 66 44,148 66 8,506 17,918 7,598 4
46 Retail ...................................................................................... 8 822 8 221 270 190 4,

- - - - - - 4~
47 Food ......................................................................................
48 General merchandise ....................................................................... 5 213 5 58 54 47 4
Apparel and accessories ................................................................... - - - - - - 4~
49
Furniture and housefurnishings ............................................................ - - - - - - 51
50
Automotive dealers and filling stations ................................................... - - - - - - 5
51
Drug stores ............................................................. I ................. - - - - - - 5~
52
- - - - - - 5.
53 Eating and drinking places ................................................................
- - - - - - 5
54 Building materials and hardware ...........................................................
55 Other retail trade ........................................................................ 3 609 3 163 216 143 5
(3) (3) (3) 5
56 Trade not allocable ................................ I ........................................ (1) (1) (1)
57 Finance, insurance, real estate, and lessors of real property .................................. 2 671 2 180 242 92 5
58 Finance ..................................................................................... 1 625 1 168 232 83 5

Banks and trust companies ................................................................. - - - - - - 5
59
60 Credit agencies other than banks .......................................................... 1 625 1 168 232 83 6
Holding and other investment companies .................................................... - - - - - - 6
61
- - - - - - 6
62 Security and commodity-exchange brokers and dealers .......................................
- - - - - - 6
63 Insurance carriers and agents ...............................................................
64 Insurance carriers ........................................................................ - - - - - - 6
65 Insurance agents and brokers .............................................................. - - - - - - 6
66 Real estate, except lessors of real property other than buildings ........................... - - - - - - 6
67 Lessors of real property, except buildings .................................................. 1 46 1 12 10 9 6
........................ ............................................................ 66 63,836 65 1,423 30,491 8,565 6
68 ServiceS2
- - - - - - 6
69 Hotels and other lodging places .............................................................
- - - - - -
70 Personal services ...........................................................................
71 Business serviceS2 .......................................................................... 17 92707 17 256 2,612 244
Automotive repair services and garages ...................................................... - - - - - - 7
72
Miscellaneous repair services, hand trades .................................................. - - - - - - 7
73
74 Motion picturaS2 ........................................................................... 44 532669 43 1,043 27,732 8,231 7
75 Amusement, except motion pictures ........................................................... - - - - - 7
76 Other services, including schools ........................................................... 5 460
- 5 124 147 90
- - - - -
77 Nature of business not allocable.. ............................................................ I I I ,
1
132 AC`rIVE CORPORATION INCOME TAX RETURNS-1954
Table 31-NET INCOME, WNSTERN HEMISPHERE TRADE CORPORATION DEDUCTION, TAXES, FOREIGN TAX CREDIT, AND TYPE OF INCOME FROM FOREIGN SOURCES. BY MAJOR INDUSTRIAL QR0UP6-Co,.
Returns with credit claimed for foreign taxes paid-Continued

Western Hemisphere Income from foreign sources

Income tax Foreign c Credit
Major industrial group trade corporation
Net income Divi ends Income other than- before for- laimed for
Number of deduction
I dividends eign tax taxes paid foreign
returns credit taxes paid
Amount Amount Amountl
Number of Number of Number o
(Tho- ...d returns (Th- d returns (Th-.-d (Th--d (71--d (7h ..d (7~-d
returns
d.11 d.11 M) &11...) I d.11.,.) d'11 ... d.11...) d.11-)
(7) (8) (9) (10) (11) (12) (1-3) (14) (15) (16 (17)
1 All industrial groupS2 .............................. 256 2,376,935 253 122,138 25 137,20C 256 489,491 1,127,529 320,627 269,854 1
2 Agriculture, forestry, and fishery .................. 5 29,898 5 8,051 - - 5 21,848 11,334 8,800 8,800
3 Farms and agricultural services ................... 5 29,898 5 8,051 - - 5 21,M 11,334 8,800 8,800
4 Forestry .......................................... - - - - - - - - - -
5 Fishery........................................... - - - - - - - - - - -
6 Mining and quarrying2 ............ 23 34,525 23 9,346 3 9 23 28,111 12,754 10,222 8 , 640
7 Metal mining.......... 12 28,963 12 7,753 3 9 12 23,442 10,832 8,861 7,728
Anthracite mining ................................. - - - - - - - - - - -
98 CBituminous coal and lignite mining ................ - - - - - - - - - - - c
10 rude petroleum and natural gas production2 ....... 11 5,562 11 1,593 - - 11 4,669 1,922 1,361 912
11 Nonmetallic mining and quarrying .................. - - - - - - - - - - - 11
12 Construction2 .......... ......... .................. 15 13,505 15 2,319 1 497 15 9,168 4,972 2,579 2,313 1;
13 Manufacturing2 ...................................... 55 1,160,982 53 87,262 14 118,932 55 383,541 525,626 277,480 229,275 1-
14 Beverages ......................................... 2 904 2 243 - - 2 670 331 467 329 14
15 Food and kindred productS2.. ...................... 11 6,426 10 1,569 3 735 11 5,298 2,463 1,988 1,829 if
16 Tobacco manufactures .............................. 1 11 1 3 - - 1 11 3 2 2
- 1
17 Textile-mill products ............................. - - - - - - - - 11
18 Apparel and products made from fabrics ............ - - - - - - 16
19 Lumber and ~ood products, except furniture ........ - - - - - - - - - 1~
20 Furniture and fixtures ............................ 2 186 2 50 2 186 63 45 45
21 Paper and allied products ......................... 1 289 1 78 1 211 104 173 104 23
2C
22 Printing, publishing, and allied industries ....... 1 1,055 1 294 1 1,702 395 431 394 22
23 Chemicals and allied products2 19 14,307 19 2,172 1 1,518 19 7,717 6,335 3,021 2,767 23
24 Petroleum and coal productS2..: ................... 3 643,905 3 69,056 3 103,814 3 322,715 263,631 234,162 198,473 24
25 Rubber products ................................... 1 293 1 79 - - 1 293 106 74 74 2!
26 Leather and products .............................. - - - - - 2E
27 Stone, clay, and glass
t products - - - 2,
28 Primary metal indus rie32 ...... 5 "0,956- 4 -
11,600 3 3,434 5 32,946
'120 225,979 29,277 17,665 2E
29 Fabricated metal products, except ordnance~ 3 2,610 3 703 1 19 3 2 975 948 837 29
30 Machinery, except transportation equipment and 1 91 1 25 - - 1 91 29 29 29 3C
electrical.
31 Electrical machinery and equipment2 ............... 1 18,183 1 872 1 8,834 1 6,841 9,006 5,620 5,384 31
32 Transportation equipment~ except motor vehicleS2.. 2 28,753 2 294 1 507 2 2,597 14,894 1,271 1,271 32
33 Motor vehicles and equipment, except electrical ... - - - - - - - - - - - 33
34 Ordnance and accessories .......................... - - - - - - - - - - - 34
35 Scientific instruments; photographic equipment; 2 3,013 2 234 1 71 2 143 1,312 72 72 35
~atches, clockB2.
36 Other manufacturing.. ............................. - - - - - - - - - - - 36
37 Public utilitieS2 ............. ..................... 11 1,051,390 11 5,415 2 6,428 11 14,321 535,641 8,638 8,513 37
38 Transportation ....................................
Communication 9 5,641 9 1,518 - - 9 1,325 1,812 592 468 38
39 ..................................... 1 1,028,069 1 34 1 2,232 1 3,376 526,583 801 800 39
.0 Electric and gas Utiliti,2 ....................... 1 17,680 1 3,863 1 4,196 1 9,620 7,246 7,245 7,245 40
Other public utilities ............................ - - - 41
1.2 Trade2 .............................................. 82 494 82 8,600 2 8,555 82 15,285 18,016 7,686 7,462 42
Wholeselez ........................................ 64 43,652 64 8,374 2 8,555 64 14,607 17,742 7,477 7,268 43
Commission merchants ............................ 6 2,048 6 554 - - 6 790 744 295 260 44
'.5 Other wholesalerS2 .............................. 58 41,604 58 7,820 2 8,555 58 13,817 16,998 7,182 7,008 45
'
.6 Retail ............................................ 8 822 8 221 - - 8 658 270 205 190 46
1.7 Food ............................................ - - - - - - - - - - 4?
.6 General merchandise ............................. 5 213 5 58 - - 5 213
- 54 47 47 48
1.9 Apparel and accessories ......................... - - - - - - - - - - - 49
50 Furniture and housefurnishings .................. - - - - - - - - - - - 50
51 Automotive dealers and filling stations .. ....... - - - - - - - - - - - 51
52 Drug stores ..................................... - - - - - - - - - - - 52
53 Eating and drinking places ...................... - - - - - - - - - - - 53
54 Building materials and hardware ................. - - - - - - - - - - - 54
55 Other retail trade ............ ................. 3 609 3 163 - - 3 445 216 158 143 55
56 Trade not allocable ............................... (3) - - (3) (3) (3)
(1) (1) (1) 56
57 Finance~ insurance, real estate, and lessors of real 2 671 2 180 1 11 2 654 242 106 92 57
property.
58 Finance ........................................... 1 625 1 168 - - 1 625 232 96 83 58

59 Banks and trust companies.. ..................... - - - - - - - - - - - 59
k Credit agencies other than banks ................ 1 625 1 168 - - 1 625 232 96 83 60
~1 Holding and other investment companies .......... - - - - - - - - - - - 61
~2 Security and cozoodity-exchange brokers and - - - - - - - - - - - 62
dealers.
0 Insurance carriers and agents ..................... - - - - - - - - - - - 63
A Insurance carriers .............................. - - - - - - - - - - - 64
~5 Insurance agents and brokers .................... - - - - - - 65
~6 Real estate, except lessors of real property other - - - - - - 66
than buildings.
7 Lessors of real property, except buildings ........ 1 4E 1 12 1 11 1 29 10 10 9 67
8 ServiceS2 ........................................... 63 41,470 62 965 2 2,768 63 16,563 18,944 5,116 4,759 68
9 Hotels and other lodging places ................... - - - - - - - - - - - 69
10 Personal services ................................. - - - - - - - - - - 70
1 Business services ................................. 17 9,707 17 256 - - 17
- 1,214 2,612 277 244 71
2 Automotive repair services and garages ............ - - - - 72
13 Miscellaneous repair services, hand trades ........ - - - - 73
14 Motion pictureS2 .................................. 41 31,303 40 585 2 2,768 41 15,013 16,185 4,749 4,425 74
15 Amusement, except motion pictures ................. - - - - - - - - - - - 75
16 Other services, including schools.. ............... 5 460 5 124 - - 5 336 147 90 90 76
~7 Nature of business not allocable ....................
77
Table 3l.-NET INCOME, WESTERN HEMISPHERE TRADE CORPORATION DEDUCTION, TAXES, FOREIGN TAX CREDIT, AND TYPE OF INCOME FROM FOREIGN SOURCES, BY MAJOR INDUSTRIAL GROUP--Con.
Returns without credit claimed for foreign taxes paid

Returns without
net income
Major industrial group Western Hemisphere trade
Income tax
Net income corporation deduction
Number of Deficit
Umber of
returns Amount Amount
Number of Number of returns
(7ho-d returns (7h -d returns (Th- -d (7h...-d
d.11-) d.11 ... d.11 ... d.11 ...
(18) (19) (20) (21) (22) (23) (24) (25)
1 All industrial groups .................................................. 332 149,311 313 9,050 318 65,982 77 13,009 1
2 Agriculture, forestry, and fishery ..................................... 1 250 1 38 1 76 1.3 3,767 2

3 Parma and agricultural services ...................................... 1 250 1 38 1 76 13 3,767 3
4 Forestry ............................................................. - - - - - - - - 4
5 Fishery .............................................................. - - - - - - - - 5
6 Mining and quarrying ................................................... 2 76 1 13 1 13 3 1,163 6
7 Metal mining ......................................................... 1 27 - - - - 1 896
8 Anthracite mining .................................................... - - - -
9 Bituminous coal and lignite mining2 ..... ............................ - - - - - - 1 208 9
10 Crude petroleum and natural gas production2 .......................... 1 49 1 13 1 1-3 1 59 1C
11 Nonmetallic mining and quarrying ..................................... - - - - - - - - 11
12 Construction2 .......................................................... 12 1,501 7 239 7 303 2 1,392 12
13 Manufacturing2 ...... ...................... ........................... 9 48,806 7 56 7 18,419 7 3,856 1.3
14 Beverages ............................................................ - - - - - - - - 14
15 Food and kindred products ............................................ 1 280 - - 1 184 15
16 Tobacco marufactureS2 ................................................ 1 16 1 25 - - 1E
17 Textile-mill products ................................................ - - - - I?
18 Apparel and products made from fabrics ............................... - - - - - - 18
19 Lumber and wood products, except furniture ........................... 1 39 1 11 1 9 19
20 Furniture and fixtures ............................................... - - - - - - 2C
21 Paper and allied products ............................................ 22
22 Printing, publishing, and allied industries .......................... - - - - 22
23 Chemicals and allied products ........................................ (1) (1) (3) (3) (3) 1 85 23
(1)
24 Petroleum and coal pmdUetS2 ..... ................................... 1 48,406 1 18,395 1 2,377 24
25 Rubber products ...................................................... - - - - - - 25
26 Leather and products ................................................. - - - 2E
27 Stone, clay, and glass products ...................................... - - - - - - - - 2",
28 Primary metal industries ............................................. - - - - - - - - 28
29 Fabricated metal products, except ordn.aaee, machinery, and transpor- - - - - - - 1 1 29
tation equipment.
30 Machinery, except transportation equipment and electrical ............ - - - - - - 1 730 3C
31 Electrical machinery and equipment ................................... - - - - - - - - 31
32 Transportation equipment, except motor vehicles ...................... - - - - - - - 32
33 Motor vehicles and equipment, except electrical ...................... - - - - - - 337 33
34 Ordnance and accessories .............................. 34
35 Scientific instruments; photographic equipment; watches,* ......
clocks ...... 142 35
36 Other manufacturing .................................................. - - - - - - - - 3E
37 Public utilities ....................................................... 2 534 2 132 2 178 2 1,293 3-~
38 Transportation ....................................................... 2 534 2 132 2 178 2 1,293 38
39 Communication ........................................................ - - - - - - - - 39
40 Electric and gas utilities ........................................... - 4C
41 Other public utilities ............................................... - - - - - - - - 41
42 Trade2 ...... 268 96,383 257 8,092 263 46,406 50 1,538 42
43 Wholesale2 242 28,992 232 7,814 237 lOp274 29 1,131 43
44 commission merchants ............................................... 13 1,499 13 404 13 537 - - 44
45 Other wholesalerS2..... ............................................ 229 27,493 219 7,410 224 9,737 29 1,131 45
46 Retail' .............................................................. 2 66,476 1 21 2 35,829 1 70 4~
47 Food ............................................................... 1 66,397 - - 1 35,805 - - 47
48 General merchandise ................................................ - - - - - - - - 48
49 Apparel and accessories ............................................ - - - - - - - - 49
50 Furniture and housefurnishings ..................................... - - - - - - - - 5C
51 Automotive dealers and filling stations ............................ - - - - - - - - 51
52 Drug stores ........................................................ - - - - - - - - 52
53 Eating and drinking places ......................................... - - - - - - - - 53
54 Building materials and hardware .................................... 1 79 1 21 1 24 - - 54
55 Other retail trade ................................................. - - - - - - 1 70 55
56 Trade not allocable .................................................. 24 915 24 257 24 303 20 337 56
57 Finance, insurance, real estate, and lessors of real property .......... 1 1,293 1 348 1 486 - - 57
58 Finance .............................................................. - - - - - - - - 58
59 Banks and trust companies .......................................... - - - - 59
60 Credit agencies other than banks ................................... - - - - - 60
61 Holding and other investment companies ............................. - - - - - - - - 61
62 Security and conmdity-exchange brokers and dealers ................ - - - - - - - - 62
63 Insurance carriers and agents ........................................ - - - - - - - - 63
64 Insurance carriers ................................................. - - - - - - - - 64
65 Insurance agents and brokers ....................................... - - - - - - - - 65
66 Real estate, except lessors of real property other than buildings .... - - - - - - - - 66
67 Lessors of real property, except buildings ........................... 1 1,293 1 348 1 486 - - 6?
68 Services ............................................................... 37 468 37 132 36 101 - - 68
69 Hotels and other lodging places ...................................... - - - - - - - - 69
70 Personal services .................................................... - - - - - - - - 70
71 Business services .................................................... (3) (3) (3) (3) (3) (3) - - 71
72 Automotive repair services and garages ............................... - - - - - - - - 72
73 Miscellaneous repair services, hand trades ........................... - - - - - - - - 73
74 Motion pictures ...................................................... (3) (3) (3) (3) (3) - -
(1) 74
75 Amusement, except motion pictures .................................... - - - - - - - - 75
76 Other services, including s6hools .................................... (3) (3) (3) (3) (3) - -
(1) 76
77 Nature of business not allocable ....................................... - - - - - - - 7?
-
'Amounts Bhown for income from foreign sources other than dividends were reduced by negative amounts.
21ncludes returns of consolidated corporations here one or more of the corporations within the affiliated group was a Western Hemisphere trade corporation.
Tabi. 82.-NET INCOME, WESTERN HEMISPHERE TRADE CORPORATION DEDUCTION, TAXES, FOREIGN TAX CREDIT, AND TYPE OF INCOME FROM FOREIGN SOURCES, BY SIZE OF TOTAL ASSETS
Total Returns with Form 1118 statements filed in support of cre dit claimed
Western Hemisphere Income tax Credit Western Hemisphere Income from foreign sources Income tax Credit
Si ze o f total assets trade corporation claimed Foreign claimed
before trade corporation b f-
Number Net income deduction for Number Net income Income ther than taxes for
fore'g deduction Dividends t foreign
divi dends
of tax c re dL foreign of a. credit paid foreign
returns Amount (T~_d
taxes paid returns Number Amount Nunb~r Amount Wber Amount ~ taxes paid
(rh- d (A ...d 111.-d (77-d (7h...d of of (Yh--d (7h.-d (Th ..d (n--d
d.11n) d.1 I...) &11... ) &11 ... d.11 ...) returns
of d.11...) returns d.11 ... returns d.11-) d.11 ... ) d.11... d.11 ...
-1
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ~11) (12) (13) (14) (15) (16) (17)
Under $100,000. ......................... .......... 51 538 51 146 119 94 50 491 50 133 50 325 107 116 83
$100,000 -der $250,000 ................. .......... 35 2,056 34 552 612 407 33 2,020 33 545 33 1,500 604 "7 401
$250,000 under $500,000 ................. .......... 20 1,998 20 536 660 522 19 1,835 19 492 1 11 19 1,345 6G4 607 467
$500,000 under $1,000,000 ............... .......... 49 7,142 49 1,904 2,362 1,543 46 6,088 46 1,620 - - 46 4,930 1,979 1,629 1,285
$1,000,D00 under $2,500,000 ............. .......... 32 16,764 32 4,513 6,189 3,354 27 14,908 27 4,013 1 19 27 10,150 5,513 3,367 3,026
$2,500,000 under $5,0CC ....... .......... 23 16,706 22 4,434 6,171 3,229 21 16,260 20 4,318 2 8 21 10,501 6,010 3,723 3,103
$5,000,000 under $10 ........... .......... 16 15,006 16 3,913 5,620 1,788 16 15,006 16 3,913 2 176 16 8,953 5,620 1,806 1,788
$10,000,000 under $25 000 ,,2 .......... ..........
15 28,563 15 7,329 10,514 4,326 13 26,022 13 6,645 - - 13 17,209 9,566 4,128 3,616
$25,000,000 under $50: 000 : 0002 .......... .......... 9 49,582 9 il,913 18,783 13,618 8 43,169 8 10,1?0 5 1,129 8 28,049 16,360 12,066 11,196
$50,000,000 under $100,000,G002 ......... ..........
4 26,417 4 2,891 12,298 5,813 2 12,972 2 1,814 1 1,518 2 8,032 5,916 3,357 3,340
$100 000,000 under $250,000,0002.. ...... ...... ... 7 88,063 6 3,040 42,577 10,438 6 75,215 5 2,602 3 3,275 6 22,392 35,919 8,130 7,853
$250:000,000 or more2 ................. .....
13 2,440,347 12 90,152 1,122,070 254,379 11 2,160,717 10 85,272 10 131,064 11 374,058 1,038,504 280,492 233,041
Total2 .......................... ........

274 2,693,182 1 270 1 131,323 1 1,227,975 , 299,5il 252 2,374,703 , 249 1 121,537 1 25 1 137,200 1 252 1 487,4" 11,126,702 1 319,868 1 269,199
Balance sheets not available ............ ......... 4 2,232 4 601 827 1 655 4 2,232 1 4 601 4 2,047 1 827 759 655
1 1 - -
Grand total2 ...................... ......... 278 2,695,414 274 131,924 1,228,802 300,166 256 2,376,935 253 122,138 25 137,200 256 489,491 i,127,529 320,627 269,854
1 1 1 1 1
Returns without net

income
Western Hemisphere
Size of total assets trade corporation Income tax
Number Net income deduction Number ficit
of of
return. Number Amount Number Amount returns
(Th ..
md (77-...d of (77--d (7h-.-d
&11.. ) of
returns d.11 ... returns d.11-) d.11 ...
(18) (19) (20) (21) (22) (23) (24) (25)
Under $100,000 .......................... ..................... ........... .......... ........... ........... ........... .......... ......... 129 1,723 119 471 124 434 21 343
$100,000 under $250 oco2 ................ ..................... ........... .......... ........... ........... ........... .......... ......... 91 3,135 86 691 86 730 21 519
$250,000 under $500: OW2 ................ ..................... ........... .......... ........... ........... ........... .......... ......... 34 4,055 33 1,083 33 1,390 3 162
$500,000 =der $1,000,000 ............... ..................... ........... .......... ........... ........... ........... .......... ......... 29 5,580 29 1,457 28 1,930 13 326
$1,000,000 under $2,500,DW2 ............ ..................... ........... .......... ........... ........... ........... .......... ......... 15 6,248 15 1,705 14 2,291 5 586
$2,500,000 -der $5,000, GOO. 7 3,639 6 903 6 1, 2" - -

....
$5,000,000 -der $10,000,000i ........... ..................... ......... ....... ..........
........... .......... ........... ........... ........... **-* .... .........
.. -* ... 4 7,750 4 2,088 4 2,922 2 1,235
$10,000,000 under $25 000 ooo2 .......... ..................... ........... .......... ........... ........... ........... .......... ......... - - - - - - 6 4,099
$25,00C,D00 under $50 : 000 : 0002 .......... ..................... ........... .......... ........... ........... ........... .......... ......... - - - - - - 3 579
$50,000,000 -der $100,000,000 .......... ..................... ........... .......... ........... ........... ........... .......... ......... 1 469 1 126 1 173 2 4,430
$100,000,000 under $250,000,000 ......... ..................... ........... .......... ........... ........... ........... .......... ......... - - - - - - 1 730
$250,000,000 or more2 ................... ..................... ........... .......... ........... ........... ........... .......... ......... 2 114,803 - 2 54,200__L -
Tota,2 ...... _ ....... ........... ..................... ........... .......... ........... ........... ........... .......... .........
. 312 147,402 293 8,524 298 65,314 77 13,009
Balance sheets not available ............ ..................... ........... .......... ........... ........... ........... .......... ......... 20 1,909 20 526 20 668 -
-
Grand total2 ...................... ..................... ........... .......... ........... ........... ........... .......... 332 149,311 313 9,050 318 65,982 77 13,009
1 Amounts shown for income from foreign sources other than dividends wWe reduced by negative amounts.
21ncludea returns of consolidated corporations where one or more of the corporations within the affiliated group was a Western Hemisphere trade corporation.
NOTE: See text for expl anstory statements and for "Description of the Sample and Limitations of Data."
Table 83.-NET INCOME, WESTERN HEMISPHERE TRADE CORPORATION DEDUCTION, TAXES, FOREIGN TAX CREDIT, AND TYPE OF INCOME FROM FOREIGN SOURCES, BY SIZE OF NET INCOME
Total Returns with Form 1118 statements filed in support of credit claimed
Western Hemisphere Income tax Credit Western Hemisphere Income from foreign sources Credit
Size of net incom e trade co rporation claimed trade corporation Income tax
before for- Foreign claimed
Met income deduction for Net income deduc tion Dividends Inco me other than beforefor-
Number of sign tax Number of dividends taxes for
foreign eign tax
credit pa d fore ign
returns taxes paid returns credit
Amount Amount Amount A~wunt ' taxes paid
~rat_a
ber of -a Number of Number of Number of
(7h .-d _.-d (7h-..,d (77. -d (n-.-d returns (7hm,md returns (Tho-d returns (7hm--d (71-d (7h-.-d (T?o..-d
.b1l-) ".,.) d.11 ... db11... ) 1 &11 ... ) d.11.,.) d.11-) d.11.,.) d.11... ) &I I...
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)
Under
$10 000
$10,000 ..................................... 33 151 33 40 34 28 33 151 33 40 - - 33 119 34 40 28
under $15,000 ............................. 14 177 13 46 39 16 13 167 13 46 - - 13 81 37 25 15
$15:000 under $20,000 ............................. 6 99 6 27 21 18 6 99 6 27 - - 6 118 is
21 is
$20,000 under $25,000 ............................. 7 164 7 44 36 25 7 164 7 44 - - 7 101 36 49 25
$25,000 Under $50,000 ............................. 36 1,372 36 348 3(Y7 223 34 1,299 34 328 1 11 34 1,451 289 281 207
$50,000 Under $100,0002 ........................... 28 2,219 27 572 693 539 27 2,139 26 550 - - 27 1,997 669 698 516
$100,000 Under $250,0002 .......................... 43 7,004 43 1,874 2,402 1,893 39 6,248 39 1,674 2 25 39 4,940 2,135 2,053 1,677
$250,000 under $500,0002 .......................... 25 8,849 25 2,472 3,099 1,919 22 7,842 22 2,201 1 105 22 5,698 2,734 2,186 1,666
$500,000 Under $1,000,0002 ........................ 30 20,943 30 5,337 7,917 4,125 26 18,486 26 4,676 3 677 26 13,500 7,006 4,356 3,686
$1,000,000 under $5,0D0,0002 ...................... 28 58,159 28 14,652 21,579 10,614 26 52,425 26 13,108 3 534 26 30,203 19,417 9,954 8,805
$5,000,000 under $10,000,0002 ..................... 11 81,805 11 12,289 32,820 14,343 9 65,921 9 10,539 3 2,016 9 31,928 25,520 10,739 10,711
$10,000,000 or more2 .............................. 17 2,514,472 15 9 22 . 1,159,855 266,423 14 . 2,221,994 12 88,905 12 133,832 14 399,355 1,069,631 290,228 242,500
Total' ...................................... 278 2,695,414 274 131,924 1,228,802 300,166 256 2,376,935 253 122,138 25 137,200 256 489,491 1,127,529 320,627 269,854
Returna with net income Raturna without net

income
Western Hemisphere
Size of net income or deficit
trade corporation Income tax
Net income deduction Deficit
Number of Number of
returns Amount Amount returns
Number of Number of
(lh--" (Tho..
d.1j. ::d
returns returns
d.11... d.11... d.11...
(18) (19) (20) (21) (22) (23) (24) (25)
Under $10,0001 ..................................... .......... ........... .......... ........... ........... ........... .......... .......... 105 293 95 93 99 83 30 125
$10,000 under $15,000 .............................. .......... ........... .......... ........... ........... ........... .......... .......... 51 634 51 182 51 135 - -
$15,000 Under $20,0002 ............................. .......... ........... .......... ........... ........... ........... .......... .......... 19 329 19 108 18 69 - -
$20,000 under $25,000 .............................. .......... ........... ........... .......... ........... ........... .......... .......... 25 570 25 153 25 124 11 266
$25,000 -der $50,000 .............................. .......... ........... ........... .......... ........... ........... .......... .......... 33 1,198 32 316 32 274 16 552
50,000 Under $100,0002 ............................ .......... ........... ........... .......... ........... ........... .......... .......... 25 1,663 25 437 25 477 4 264
100 000 under $250,0002 ........................... .......... ........... ........... .......... ........... ........... .......... .......... 33 5,211 28 1,251 28 1,606 8 1,407
$250:000 under $500,000 ............................ .......... ........... ........... .......... ............ .......... .......... .......... 27 9,518 26 2,445 26 3,345 2 728
500,000 under $1 000 000 .......................... .......... ........... ........... .......... ............ .......... .......... .......... 7 4,802 7 1,295 7 1,786 2 1,626
1, 000, 000 -der $5, 666, 0002 ....................... .......... ........... ........... .......... ............ .......... .......... .......... 5 10,290 5 2,770 5 3,883 4 8,041
$5,000,000 under $10,000,000 ....................... .......... ........... ........... .......... ............ .......... .......... .......... - - - - - - - -
$10,000,000 or more2 ............................... .......... ........... ........... .......... ............ .......... .......... .......... 2 114,803 - - 2 54,200 - -
Total2.... ................................... .......... ........... ........... . ........ ............ .......... .......... .......... 332 1 149,311 313 9,050 318 65,982 77 13,009
1 1
'Amountsshown for income from foreign sources other than dividendswere reduced by negative amounts.
21ncludes returns of consolidated corporations where one or more of the corporations within the affiliated group was a Western Hemisphere trade corporation.
NOrE: See text for explanatory statements and for "Description of the Sample and Limitations of Data."
Table 34-UNDISTRIBUTED INCOME COMPUTATION AND PERSONAL HOLDING COMPANY TAX, BY INCOME STATUS
Returns with corporate Returns without corporate

net income net come
With undis- Without undis~ With

tr".tel
und Without undi.-
Its. Total tributed tributed is- tributed
personal personal hold~ personal personal hold-
holding com- ing company holding com- ing company
paxy~ income income pany income income
(1) (2) (3) (4) (5)
Number of returns with schedule PH attached ............................................................ 3," 273] 2,589 956
(7h-.-d d.11.,.)
2 Corporate net income or deficit ........................................................................ 255,823 15,607 246,108 15,892
Adjustments:
3 Amount included in income
istion where lien in favor of United States is satisfied or released ..............
45 Expense a and depre applicable to property in excess of amount allowable ....................... 228 49 168
Total (Sum of 2, 3, and 4) ....................................................................... 256,052 15,618 246,157 15,723
Deducti.
I s:
tional contributions and gifts ...................................................................
Add "al 21065 391 1,673
Fed income and excess profits taxes .............................................................. 33,896 2,204 31,412 280
rel taxes ........................................................................................ 1,441 311 1,130
In ting loss deduction .........................................................................
F, t opera 4,266 22 2,818 1,426
Deduction for capital gains ..........................................................................
Ne 44,466 3,321 39,734 1,411
Amount i of
d'due
lien favor of the IUnited States.. ....................................................... 11 11
Specia
uct in for bank affi iates ................................................................
on 20 20
Ded
A. ion for t d ividends paid ......................................................................... 212,016 7,614 201,857 2,545
used idor s aside to retire
t indebtedness incurred prior to Ja~ . 1, 1934 ...................... 1,270 41 1,147 82
Dividends
0-ts pa after
et close of axable year ........................................................... 2,302 225 2,060 17
Total deductions ................................................................................. 301,756 14,130 281,843 5,783
17 Undistributed personal holding company income (5 minus 16) ............................................. 145,704 1,488 '35,686 111,506
18 Personal holding company tax ........................................................................... 1,253 1,253 1
IDeficit or negative amount.

NOTE: See text for explanatory statements and for "Description of the Sample and Limitations of Data." See p. 22 for limitation in coverage.

Tablo 85.-SOURCES OF PERSONAL HOLDING COMPANY INCOME, BY UNDISTRIBUTED INCOME STATUS
Returns th undis- Returns without undis-
Total tributed personal
wi holding tributed personal holding
company income company income
Source of personal holding company income
Number of Amount Number of Amount Number of Amount
returns (Th-amd returns (77-and returns (7h ..d
d.1 I ..) d.11ara) d.11 ...
(1) (2) (3) (4) (5) (6)
Div idends ............................................................................................. 2,031 187,448 142 9,466 1,889 177,982

Int erest .............................................................................................. 2,115 23,170 P 153 1,844 1,962 21,326
Rent. 758 10,650 61 414 697 10,236
R.yal~ie* s' :--** ..... *** ...... *"**'*"** ......
Mineral,
Crt gas, and oil ............................................................................... 178 16,992 4 306 174 16,686
her ............................................................................................... 164 4,250 8 418 156 3,832
Annuities ............................................................................................. - - - - - -
Gains sale of stock or securities ................................................................ 1,181 49,666 76 3,940 1,105 45,726
Gains from
fro" futures transactions ....................................................................... 23 610 2 304 21 306
Income from p e : tates and trusts ........................................................................ 3 1 - - 3 1
I from rsonal service contracts ................................................................ 58 1,427 4 28 54 1,399
Income
ncome from use of corporation property by shareholder ................................................ 46 430 4 20 42 410
Total ........................................................................................... 3,097 294,644 212 16,740 2,885 277,904
- - 660 -
No personal holding company income reported ........................................................... 721 61
Grand total ..................................................................................... 3,818 294,644 273 16,740 3,545 277,904
NOTE: See text fo explanatory statements and for "Description of the Sample and Limitations of Data." See p. 22 for limitation in coverage.
Tabl. 36.-PERSONAL HOLDING COMPANY INCOME, UNDISTRIBUTED INCOME, AND TAX, BY SIZE OF PERSONAL HOLDING COMPANY INCdME
Returns with undistributed personal holding

company income
Persona l
holding Undistributed
Number of company personal Personal Personal
Size of personal holding company income
returns income holding holding holding
Number copa company company
income
ny tax income
(7h-.-d (A...-d (Th-.-d
dDII ... &11... ) doll.-) d.11...
(1) (2) (3) (4) (5) (6)
Under $1,000 ........................................ ............................................. 360 168 27 2 2

$1,000 under $2,000............................................................................... 133 185 a 12
$2,000 under $3,000............................................................................... 186 451 18 1 1 47
$3,000 under $4,000............................................................................... 156 573 4 1 1 14
$4,000 under $5,000............................................................................... 149 671 12 30 24 52
$5,000 under $10,000.............................................................................. 448 3,095 42 27 21 298
$10,000 under $25,000............................................................................. 610 9,446 30 1-3 10 420
$25,000 under $50,000............................................................................. 293 10,814 22 55 45 686
$50,000 =der $100,000 ............................................................................ 301 21,843 16 3 2 1,357
$100,000 under $500,000........................................................................... 357 75,502 24 207 174 5,360
$500,000 under $1,000,000......................................................................... 60 41,258 6 631 535 4,283
$1,000,000 under $5,000,000....................................................................... 38 60,051 3 432 366 4,201
$5,000,000 or more ................................................................................ 587 - -
- I - I
Total ....................................................................................... 3,097 294,644 212 1,402 1,182 16,740
No personal holding company income reported ....................................................... 721 - 61 86 71 -
Grand total .................................................................................. 3,818 294,644 273 1,488 1,253 16,740
1L,ess than $500.


T.bla 37.-PERSONAL HOLDING COMPANY INCOME, UNDISTRIBUTED INCOME, AND TAX, BY SIZE OF UNDISTRIBUTED INCOME
Personal holding Undistributed

compa income pe onal Personal
Number of holdin g holdi ng
Size of undistributed personal holding company income returns company company
Number of Amoun t
income tax
returns (Tb...-d (A...-d (77...-d
dbil.'.) d.11-.) d.11.,.)
(if (2) (3) (4) (5)
Under $2,000 ...................................................................................................... 234 175 9,225 48 37

$2,000 -der $5,000 ............................................................................................... 25 24 2,026 65 50
$5,000 under $10,000 .............................................................................................. 5 5 1,440 29 23
$10,000 under $25,000 ............................................................................................. 1 2 452 27 22
$25,000 under $50,000 ............................................................................................. 2 2 156 87 74
$50,000 under $100,000 ............................................................................................ 1 - - 64 55
$100,000 under $500,000 ........................................................................................... 3 3 2,502 550 467
$500,000 -der $1,000,000 ......................................................................................... 1 1 939 618 525
$1,000,000 =der $5,000,000 ....................................................................................... - - - - -
$5,000,000 or more ................................................................................................ - - - -
Total ...................................................................................... ................ 273 212 16,740 1,488 1,253
No undistributed personal holding company income .................................................................. 3,545 2,885 277,904
Grand total. ................................................................................................ 3,818 3,097 294,644 1,488 1,253
4. Historical Data,
Corporation Income
Tax Returns,
1945-54
CORPORATIONJINCOME TAX RETURNS FOR 1945-54
Page
Introduction ..................................................... 141
Description of historical tables ................................. 141
Comparability of historical data ................................. 142
Tables ........................................................... 146
140
4. HISTORICAL DATA, CORPORATION INCOME TAX RETURNS, 1945-1954
.INTRODUCTION total compiled receipts minus the amounts of non-
taxable dividends excluded from gross income and of
The historical data presented in this volume are wholly tax-exempt interest received on certain
selected from the tabulations prepared from corpo- Government obligations, for 1916 was $35 billion on
ration income tax returns f or the years 1945 through 341 thousand returns. By 1954 the amount of total
1954 and published in Statistics of Income for those compiled receipts had risen to $555 billion on 723
years. The tables are preceded by a discussion of thousand returns, nearly 16 times the gross income
the comparability of the statistics during that pe- in 1916 while the number of returns more than doubled.
riod. This discussion is supplemented by the mate- Since the item was first tabulated separately in
rial presented in the Synopsis of Federal Tax Laws, 1922, gross sales has been the largest single com-
1945-54, pages 181-190 of this volume. ponent of total compiled receipts, usually between
Data with respect to income and tax of corpora- 70 and 85 percent. Among the eight allocable indus-
tions first became available in 1909 when an excise trial divisions,the largest industry, manufacturing,
tax measured by the income of corporations was im- has almost always accounted for 40 to 55 percent of
posed by the Tariff Act of 1909. Selected data were the total compiled receipts. The chart below shows
published in the annual reports of the Commissioner the growth in the amount of receipts since 1916 for
of Internal Revenue for the years 1909 through 1915. all industries, for manufacturing, and for trade.
Following adoption of the 16th amendment to the Selected historical data for the years prior to
Constitution a direct income tax was imposed, and 3 1945 were published in Statistics of Income for 1949,
years later the Revenue Act of 1916 directed that Part 2.
statistics concerning the operation of the income
tax laws were to be published annually. The first DESCRIPTION OF HISTORICAL TABLES
volume of Statistics of Income was published for the
income year 1916 and presented only 5 basic income The historical tabulations are presentedin tables
and tax items for corporations, distributed geograph- 38 through 43, pages 147-170. Table 38 shows the
ically and by type of industry. number of returns, by income or deficit status, and
The item "Total compiled receipts" was not tabu- by net income, deficit, and total assets classes.
lated from 1916 to 1921. Gross income, which was Table 39 gives the number of returnstotal compiled
Chad 6.-TOTAL RECEIPTS COMPILEO FROM TAX RETURNS, 1916-1954*
1916 1920 1925 1930 1935 1940 1945 1950 1954

*Total compiled receipts for 1916-1921 excludas wholly tax-exempt Interest received an certain Government obligations
(less than $400 million) and most domestic dividend. received (less than $510 million).
141
142 CORPORATION INCOME TAX RETURNS, lk5-1964
receipts, net income or deficit, taxes, dividends Section 124A provides for the amortization of the
paid,and total assets, by income and deficit status. cost of emergency facilities necessary for national
The number of returns, items of receipts and de- defense and acquired or completed during the emer-
ductions,compiled net profit or net lossnet income gency period beginning January 1,1950. Section 124B
or deficit, taxes, and dividends paid are shown in was enacted in the Technical Changes Act of 1953 to
table 40 for all active corporation returns and for alleviate a critical shortage in grain storage fa-
returns with net income. For returns with balance cilities and is applicable to cost of erection or
sheets these items, together with items of assets reconstruction of such facilities incurred after
and liabilities,are givenin table 41 for all active December 31, 1952. A 60-month amortization period
corporation returns and for returns with net income. is provided for both types of facilities. For 1950-
Data by major industrial groups are presented in 52 the amortization deduction is that claimed under
table 42. Items shown are the number of returns, section 124A only. For 1945-49 amortization of emer-
total compiled receipts, net income of deficit, and gency facilities was authorized by section 124 of
taxes. Data for returns with net income and returns the Code (1939) and was applicable to cost of emer-
without net income are given separately. gency facilities acquired or completed during the
Table 43 presents data for returns filed on acon- emergency period beginning January 1, 1940. On
solidated basis and shows the number of returns and September 29, 1945, the President proclaimed the
subsidiaries,total compiled receipts, net income or ending of the emergency period defined in section
deficit,and taxesby net income and deficit status. 124. As a result, taxpayers holding certified emer-
gency facilities on which the 60-month amortization
period had not expired could elect to terminate the
COMPARABILITY OF HISTORICAL DATA amortization period as of September 30, 1945, and
recompute the amortization deduction for each tax
The comparability of corporate statistics derived year involved, on the basis of the actual number of
from income tax returns over a period of years is months in the shortened period. Thus, the amortiza-
affected by a number of factors. Changes in income tion deductions reported on the 1945 returns are,in
tax law affecting the data can be traced through a many instances, the increased amounts based on the
historical period and the effect estimated, but the shortened period.
effects resulting from achange in methods of filing See "Accumulated amortization and depreciation and
or in the classification of a return because of Accumulated depletion" above and "Cost of goods sold
changed status of a company are more difficult to and Cost of operations" below.
identify and appraise. Some of the factors affect-
ing comparability are discussed in the following Consolidated returns
paragraphs. This discussion covers both broad areas Election to fileor to discontinue filing, a con-
of data and specific items.
solidated return results in relocation, classifica-
tion-wise,of data for the companies included in the
Accrued expenses affiliated group. For example, industrial classi-
Beginning in 1954,accrued expenses were tabulated fication is based on the principal source of the
as a separate balance sheet item. Accrued expenses collective receipts reported on the return. Thus,
were combined with "Other liabilities" prior to 1954. fora consolidated return, data for companies which,
if nonconsolidated returns were filedwould fall in
Accumulated amortization and depreciation and Accu- several industrial groups are contained in one in-
mulated depletion dustry classification. Use ofthe consolidated re-
turn also eliminates from the data reported profit
For the years prior to 1954, these asset items
or loss on intercompany transactions. TableC of the
were tabulated as "Reserves" under "Gross capital
Synopsisof Federal Tax Laws shows the provisions of
assets (except land)."
law governing election and discontinuance of filing
consolidated returns.
Amortization
For a description of changes effected by the 1954
Under the 1954 Code, amortization in historical Code, see "Consolidated returns" under "Changes in
tables 40 and 41 includes not only deductions taken Law Affecting 1954 Data," page 14.
in lieu of depreciation for emergency facilities
(sec.168 of the 1954 Code) and grain storage facil- Cost of goods sold and Cost of operations
ities (sec. 169) as explained below for 1953, but
Beginning in 1951 these items were reduced by any
also deductions taken for research or experimental
identifiable amounts of taxes, depreciation, deple-
expenditures capitalized but not subject to depre-
tion, amortization, advertising, and contributions
ciation (sec. 174), mine exploration expenditures
(sec. 615), and organizational expenditures (sec under pension plans and, beginning in 1952, under
other employee benefit plans included therein. Such
248),which are described in "Changes in Law Affect-'
items were transferredto their respective headings.
ing 1954 Data," and development expenditures (see.
616), which, like exploration expenditures do not For years prior to 1951, only amortization and pension
plan contributions were so treated.
apply to oil and gas wells and may be taken in the
year incurred as "Cost of sales or operations" or
"Other deductions" or as a deferred expense charged Depreciation and depletion
off ratably against units of minerals sold. "Depreciable assets" and I'Depletable assets" were
The amortization deduction for 1953 is that pro- combined as "Gross capital assets (except land)"
vided by sections 124A and 124B of the 1939 Code. before 1954.
CORPORATION INCOME TAX RETURNS, 1945-1954 143
See "Cost of goods sold and Cost of operations" Industrial classification

and "Accumulated amortization and depreciation and
Beginning in 1952,data for the two Finance groups
Accumulated depletion" above. "Banks and trust companies" and "Credit agencies oth-
er than banks" were increased by the inclusion of
Employee benefit plans (other than pension plans, etc.) returns for mutual savings banks and savings and
The deduction in historical tables 40 and 41 for loan, building and loan associations, respectively.
"Amounts contributed under other employee benefit For taxable years beginning before January 1, 1952,
plans" was tabulated with "Other deductions" prior these organizations were exempt from taxation under
to 1952. section 101 of the 1939 Code.
See "Cost of goods sold and Cost of operations" In 1948 the Industrial Classification used in clas-
above. sifying income tax returns was revised to conform,
in general, to recent revisions in the Standard In-
dustrial Classification. A comparison of the in-
Excess profits taxes dustrial classifications used for Statistics of In-
The excess profits tax in effect for 1950-53 is come for 1947 and 1948 is shown on pages 425-450,
that imposed by section 430 which was added to the Statistics of Income for 1948, Part 2. Adjustments
1939 Code by the Excess Profits Tax Act of 1950, were made in compiling the historical data by major
effective July 1, 1950. The amounts tabulated are industrial groups in table 42 where transfer of en-
after limitation and certain adjustments and before tire minor industrial groups or combination of two
credit for foreign taxes paid. This tax"terminated or more major groups made possible the improvement
December 31, 1953,and for returns with fiscal years of comparability between the 1948-54 data and the
beginning before and ending*after that date the tax 1945-47 data. These adjustments are as follows:
is a prorated amount determined according to the
number of days in the fiscal year before January 1, MINING AND QUARRYING
1954. Nonmetallic mining and quarrying.-Forl945-47
The excess profits tax in effect during 1945-46 data,-two major groups "Nonmetallic mining and
is that imposed by section 710 of the 1939 Code quarrying" and "Mining and quarrying not allo-
(added by the Second Revenue A.6t of 1940) and is the cable" are combined.
tax shown in historical tables 39 through 43 for
the year 1946. For 1945 the excess profits tax com- MANFACTURING
piled for the historical tables consists of the ex-
Textile-mill products. -For 1945-47 the two
cess profits tax imposed by section 710 and the de-
clared value excess-profits tax imposed by section major groups "Cotton manufactures" and "Textile-
600 of the 1939 Code under the tax provisions of mill products, except cotton" are combined.
the National Industrial Recovery Act of 1933. The Lumber and wood products, except furni ture;
Furniture and fixtures. -Adjustments have been
amounts of declared value excess-prof its tax included
in the data are shownin footnotes to the historical made in the 1948-54 data by transferring data
tables. for "Other wood products" from "Lumber and wood
The excess profits tax tabulated for 1945-46 is products, except furniture" to the major group
the amount reported on the corporation Excess profits "Furniture and fixtures." Adjustments have been
tax return less the 10 percent credit. The amounts made for 1945-47 by transferring "Wooden con-
tabulated for each of the years 1945 and 1946 are tainers" from "Furniture and finished lumber
also before the amount deferred under section 710 products" to "Lumber and timber basic products"
(a)(5)(relating to abnormalities under section 722) and by transferring "Matches" from "Furniture
and before credit for foreign taxes paid, but are and finished lumber products" to "Other manu-
after any adjustments reported on the returns under facturing."
other relief provisions. Primary metal industries and Fabricated metal
products (except ordnance, machinery, and trans-
Effective January 1, 1946, the corporate excess
portation equipment).-For 1948-54 data the two
profits tax under section 710 was repealed. The
major groups "Primarymetal industries" and "Fab-
amount of tax shown for 1946 is limited to 11,053
ricated metal products,except ordnance, machin-
taxable excess profits tax returns,filed for fiscal
years ending within the period July through November ery,and transportation equipment" are combined.
1946, on which an excess profits tax liability is The 1945-47 data are obtained by combining the
two major groups "Ironsteel, and products" and
reported for the portion of the accounting period
in 1945. The declared value excess-profits tax im- "Nonferrous metals and their products," the form-
er group having been adjusted to exclude the f ive
posed by section 600 was repealed, effective with
respect to income-tax taxable years ending after minor groups comprising "Ordnance and accesso-
June 30, 1946. ries" for 1948-54, and the latter group having
been adjusted to exclude "Clocks and watches"
and "Jewelry (except costume),silverware,plated
Gross capital assets (except land) ware."
Ordnance and accessories. -Ordnance and acces-
Beginning in 1954, capital assets were tabulated sories became a major group in 1948. The data
among the balance sheet items as "Depreciable assets" shown for 1945-47 have been extracted from the
and "Depletable assets," and capital "Reserves" be- major group "Iron, steel, and products," where
came "Accumulated amortization and depreciation" and data for "Ordnance and accessories" were tabu-
"Accumulated depletion." lated as five minor groups.
1" CORPORATION INCOME TAX RETURNS, 1946-1954
Scientific instruments; photographic equip- mended the 1939 Code with respeettocredits and tax
ment; watches, clocks; and other.-For 1948-54 rates applicable to income of life insurance com-
data the two major groups "Scientific instru- panies. Provisions of law affecting life insurance
ments; photographic equipment; watches,clocks" companies are shown in the Synopsis of Federal Tax
and "Other manufacturing" are combined. The Laws, footnotes 4(g) and 5(b), pages 188 and 189.
1945-47 data are obtained by (1) combining the
two major groups "Other manufacturing" and "Man- Intangible assets
ufacturing not allocable" and (2) by adding See
. "Explanation of Terms," page 25 of this vol-
thereto "Clocks and watches" and "Jewelry (ex- ume Prior to 1954, intangible assets were included
cept costume), silverware, plated ware" (trans-
in "Gross capital assets (except land)" or other
ferred from "Nonferrous metals and their prod- asset items.
uctst') and "Matches" (transferred from "Fur-
niture and finished lumber products").
Interest received on Government obligations, sub-
ject to surtax only
PUBLIC UTILITIES
This interest consistsof interest on United States
Electric and gas utilities and Other
gas public
il_ savings bonds and Treasury bonds owned in principal
utilities.-For 1945-47 "Electric and ut
amount of over $5,000 issued prior to March 1)1941,
ities," which appears as a major group for the
and interest on obligations of instrumentalities of
first time in 1948, has been extracted from
the United States (other than obligationsof Federal
"Other public utilities."
land banks, joint stock land banks, and Federal in-
termediate credit banks) issued prior to March 1,
TRADE: RETAIL 1941. For 1945 amounts shown include interest sub-
Automotive dealers and filling stations.-For ject to surtax only and interest subjectto declared
1945-47 the two major groups "Automotive deal- value excess-profits tax and surtax. "Interest on
ers" and"Filling stations" are combined. United States Savings bonds and Treasury bonds owned
Building materials and hardware.-For 1945-47 in principal amount of over $5,000 issued prior to
the two major groups "Hardware" and "Building March 1,194111 was subject to declared value excess-
materials, fuel, and ice" are combined. profits tax and surtax. The amounts of such inter-
Other retail trade-For 1945-47 data the three est reported fQr 1945 are shown in footnotes to the
major industrial groups "Other retail trade," historical tables. The interest tabulated is less
"Package liquor stores," and "Retail trade not amortizable bond premium.
allocable" are combined.
Internal Revenue Code of 1954 and Amendments to the
FINANCE Code of 1939
Credit agencies other than banks.-For 1945-
The Internal Revenue Code of 1954, enacted August
47 datathethree major industrial groups "Long- 16Y 1954,was generally effectivefor tax years which
term credit agencies, mortgage companies except began after December 31,1953 and ended ' after August
banks," "Short-term credit agencies, except
16, 1954. "Changes in Law Affecting 1954 Data,"
banks~l and "Finance not allocable" are combined.
page 10, describes the more important changes in
Holding and other investment companies.-For
revenue law madebythe 1954 Code affecting the com-
1945-47 data the three major industrial groups"
parability of data. During the period 1945-53 the
"Investment trusts and investment companies,
1939 Code was amended by the Tax Adjustment Act of
"Other investment companies, including holding
1945, the Revenue Acts of 1945, 1950, and 1951, and
companies," and "Other finance companies" are the Excess Profits Tax Act of 1950. The synopsis
combined. of laws, pages 181-190, shows a comparison of tax
rates and bases, provisions pertaining to capital
SERVICES gains and losses, and provisions pertaining to con-
Other services, including schools.-For 1945- solidated returns for the years 1945-54.
47 data the two major industrial groups "Other Other specif ic items aff ected by the 1954 Code and
service, including schools," and "Service not these amendmentsto the 1939 Code are listed as sep-
allocable" are combined. arate paragraphs in this discussion.
Comparability of industrial data may also be af-
fected by shifts in the industrial classification Net income or deficit
of an individual corporation whose major source of Net income or deficit for 1946-54 is the differ-
income has changed, and by a change from filing a
ence between the total income and the total deduc-
consolidated return to filing separate returns, or
tions reported, exclusive of the net operating loss
vice versa, by a group of affiliated corporations. deduction and the special deductions applicable in
For provisions controlling the filing of consoli-
1954; for 1945 is the amount reported for declared
dated returns see Synopsis of Federal Tax Laws, ta- value excess-profits tax computation, adjusted by
ble C, page 186.
excluding net operating loss deduction and adding
Government interest subject to surtax only and ex-
Insurance carriers cess of net long-term capital gain over net short-
Provisions under the 1954 Code are substantially term capital loss. These adjustments make the a-
the same as under the Revenue Act of 1951 which a- mounts tabulated during the two periods comparable.
CORPORATION INCOME TAX RETURNS, 1945-1954 146
Net operating loss deduction employee benef it plans" which is tabulated separate:~y
This deduction in historical tables 40 and 41 is beginning in 1952.
the net operating loss carryover as defined in sec-
tion 172 of the 1954 Code and section 122 of the
1939 Code and does not take into account whatever Pension plans, amounts contributed under
revisions may subsequently be made as the result of See "Cost of goods sold and Cost of operations"
any carryback of net operating loss from the suc- above.
ceeding tax year. The net operating loss deduc-
tion in any taxable year is first used as a carry-
back and, to the extent not so used, may be used as
Prepaid expenses and supplies
a carryover. The net operating loss for 1954 may
be carried back for 2 preceding years and carried See "Explanation of Terms," page 27. This item
over for 5 succeeding years;for 1950-53, the carry- was included in "Other assets" prior to 1954.
back is for 1 year; for 1948-49, the carryback is
for 2 years,and the carryover for 3 years;for 1945-
47, the carryback is for 2 years and the carryover Sampling of returns
for 2 years. However, for corporations commending
Beginning in 1951 corporate data are based on a
business after December 31, 1945,the 1947 carryover
probability sample of the returns filed. A descrip-
is for 3 years. The net operating loss deduction
tion of the sample and the sampling variability to
has not been taken into consideration in computing
be expected f or any year maybe f ound in the Statis-
the net income as tabulated in Statistics of Income.
tics of Income for that year. For the period 1945-
For a discussion of the changes effected by the
50, data were tabulated from all returns filed.
1954 Code, see "Net operating loss deduction" under
"Changes in Law Affecting 1954 Data," page 11.
Other deductions Taxes paid

For 1945-51 this item, in historical tables 40 See "Cost of goods sold and Cost of operations"
and 41, includes "Amounts contributed under other above.
TABLES FROM CORPORATION INCOME TAX RETURNS FOR 1945-54
Page
ALL CORPORATION RETURNS

38. Number of returns, by income and deficit status, and by
size of net income, deficit, and total assets ............ 147

39. Number of returns, total compiled receipts, net income or
deficit, taxes, dividends paid, and total assets, by in-
come and deficit status .................................. 149
40. Income statements .......................................... 151

41. Balance sheets and related income statements ............... 153

42. Number of returns, total compiled receipts, net income or
deficit, and taxes, by major industrial group and by in-
come and deficit status ................................... 155
43. Number of returns and subsidiaries,total compiled receipts,
net income or deficit, net operating loss deduction, and
taxes, by income and deficit status ...................... 170
146
CORPORATION INCOME TAX RET`URNS, 1945-1954 147
ALL CORPORATION RETURNS I
T&W* 38.-NumBER OF RETURNS, BY INCOME AND DEFICIT STATUS, AND BY SIZE OF NET INCOME,
DEFICIT, AND TOTAL ASSETS
Size of net income, deficit, and total assets 1954 1953 1952
1
1951 1950 1949 F_1948 1947 1946 1945
Total number of returns .................................... 754,019 730,974 705,497
. 687,310 665,992 649,957 630,670 587,683 526,363 454,460
Inactive corporations' ................................... 31,214 32,999 33 426 34 934 36,678 35,115 36,427 35,876 35,211 33,335
Active corporations ...................................... 722 , 805 697 , 975 672:071 652:376 629 , 314 614 , 84 2 594,243 551,807 491,152 421,125
Number of returns of active corporations with net income:

Returns with and thout balance sheets-
By size of net wiincome:
Under $1,000 ......................................... 98 91,323 85,579 80,317 80,876 74,248 66,516 60,207 59,737
$1 000 under $2 , 000 . . ................................ 45:647 43,958 41,319
$2:0W under $3,000 .................................. 40,176 39,414 37,465 34,355 32,005 30,532
31,063
132 213,914 30,341 29,651 28,287 27 , 301 26 , 349
$3,000 under $4,000 .................................. 24 , 265 23 , 055 21 , 542
22,587 22,399 22,388 21,878 21,057 20,389
$4 , 000 under $5 , 000 .................................. 19,537 18,218 16,893
18,868 19,180 18,433 17,820 17,259 17,257 16,110 15,815 14,346
$5,000 under $10,000 ................................. 58,819 61,496 61,780 60,292 58,142 53,215 54,533 52,697 50,942 48,479
$10 , 000 under $15 , 000 ................................ 3 6,010 36,236 37,136 35,960 34,241 30,737 31,987 31,874 30,621 26,983
$15 , 000 under $20 , 000 ................................ 25,399 26,653 27,752 27,533 25,215 21,036 22,489 22,098 20,971 15,597
$20 000 under $25,000 ................................ 24 ,420 26 ,419 26, 357 2 6,120 24,713 18,444 20,221 20,445 18,119 10,429
$25,000
, under $50,000 ................................ 35 , 397 32 , 019 33, 470 36, 933 37, 151 30,670 35,284 36,696 35,645 23,090
$50,000 under $100,000 ............................... 18,877 18,820 20,623 22,785 24,181 19,344 23s291 23,890 22,736 14,432
$100,000 under $250 , 000 .............. . .. ............. 13 , 805 13 , 789 15,064 17,183 18,527 14,324 17,930 18,688 17,308 11,011
$250,000 under $500,000 .............................. 5,399 5 , 397 5 ,968 6 , 656 7 , 215 5 , 173 6, 8 15 7,286 6,734 4,571
$500,000 under $1 000 000 ............................ 2,953 3,059 3,243 3,693 3,989 2,766 3,612 3,806 3,533
$1, 000, 000 under $5 , 666 , 000 .......................... 2,889 2 , 535
2,990 3,020 3,435 3,437 2,441 3,149 3,323 2,806 2,278
$5,000,000 under $10,000,000 ......................... 432 463 455 536 472 354 422 392 316 296
$10, 000, 000 or more .................................. 460 512 508 551 522 361 419 353 279 268
Total .......................................... 441,177 441,767 442,577 439,047 426,283 384,772 395,860 382,531 359,310 303,019
Returns with balance sheets-
By size of net income:
Under $1,000 ......................................... 88 856 75 340 69 576 69,898 63,626 56,269 50,137 49,647
$1,000 under $2,000 .................................. 42 , 378 37: 769 36: 598 35,829 33,729 30,805 28,403 27,085
12:000 under $3,000 .................................. 29,452 195,8~1 189,029 27,718 26,292 25,229 24,227 22 , 269 21, 021 19, 6U7
3 000 under $4,000 .................................. 21,572 21,120 20,622 19,736 18,993 18,214 16,825 15,735
$4 , 000 under $5 , 000 .................................. 1 8 ,064 1 1 17,507 16,874 16,323 16,243 15,100 14,769 13,503
$5,000 under $10,000 ................................. 56,809 59,222 59,253 57,756 55,652 50,943 51,916 50,302 48,301 46,338
$10, 000 under $15, 000 ................................ 3 5,058 35,196 35,909 34,869 33,115 29,766 30,882 30,712 29,493 26,271
$15 000 under $20,000 ................................ 24 , 764 26 , 132 27 , 078 26 , 843 24 , 509 20,49 8 21,809 21,399 20,341 15,275
$20:000 under $25,000 ................................ 23,945 26,013 25,601 25,626 24,078 17,968 19,583 19,731
$25 , 000 und er $50, 000 ................................ 17,596 10 , 228
.34,696 31,414 32,895 36,289 36,291 30,023 34,477 35,766 34,719 22,679
$50,000 -der $100,000 ............................... 18,575 18,527 20,319 22,440 23,728 19,022 22,834 23,415 22,224 14,214
$100 , 000 under $250 , 000 .............................. 13,599 13,564 14,878 16$931 18,193 14,090 17,584 18,235 16,869 10,844
$250,000 under $500,0()o .............................. 5 , 316 5, 316 5 886 6, 547 7 , 098 5,093 6,685 7,111 6,551 4,504
$500,000 under $1,000,000 ............................ 2,874 3,012 3:182 3,637 3,918 2,713 3 , 541 3 , 717 3 , 457 2 , 501
$1,000,000 =der $5,000,000 .......................... 2,839 2,944 2,990 3,384 3,383 2,405 3,093 3,256 2,746 2,251
$5,000,000 under $10,000,000 ......................... 424 460 446 533 466 349 419 387 314 294
$10 , 000 , 000 or more .................................. 458 509 508 547 521 358 415 351 276 268
Total .......................................... 419,679 418,150 418,174 414,856 400,914 360,243 370,056 357,041 334,042 281,2"
By size of total assets:
Under $25,000 ........................................ 69,224
$25,000 under $50,000 ................................ 60,772 131,808 131,791 131,625 126,047 120,101 125,582 125,454 127,609 114,813
$50,000 under $100,000 ............................... 77,717 79,660 80,035 78,197 76,225 69,704 71,897 69,185 62,601 49,254
$100,000 under $250,000 .................... .......... 98 , 554 97 , 124 96 , 984 95,667 92,108 79,891 80,853 75,243 65,285 50,370
$250,000 under $500,000 .............................. 46 , 670 44 , 201 43 , 535 " , 06 5 42,980 36,052 36,479 33,941 29,861 23,608
$500,000 under $1,000,000 ............................ 26,551 25,818 26,120 26,149 25,562 21,124 21,358 20,429 18,375 15,490
$1 ,000, 000 under $2 , 500, 000 .......................... 19 803
$2,500,000 under $5,000,000 .......................... 8:939 28,230 28,542 28,620 27,993 24,437 24,843 24,187 22,392 20,108
$5,000,000 under $10,000,000 ......................... 5,085 5,153 5,174 4,9" 4,719 4,289 4,454 4,285 3,944 3,664
$10,000,000 -der $25 000,000 ........................ 3,384
$25,000,000 under $50:GG0,000 ........................ 4,630 4,544 4,261 4,030 3,519 3,507
1,244 ) 3,327 3,066 3,002
$50,000,000 under $100,000,000 ....................... 684 663 640 595 577 520 497 460 422 403
$100, 000 , 000 under $250 , 000 , 000 ...................... 477
$250,000,G00 or more ................................. 863 809 733 673 606 586
375 530 487 512
Total .......................................... 419,679 418,150 418,174 414,856 400,914 360,243 370,056 357,041 3.,.2 281,244
N mber of returns of active corporations without net income:

Returns with and without balance sheets-
By size of deficit:
Under $1,000 ......................................... 1-18
1 022 14,671 92,078 93,950 66,967 78,547 69,146 69,755
$1,000 under $2,000 .................................. 3 798 29 , 104 28 ,165 26,440 28,436 24,470 20,856 15,619
$2,000 under $3,000 .................................. 2 ' 4,3 186,394 1.'8'1 13,790
17, 715 16, 510 16 , 221 18 , 296 15 , 416 12,613 8,878
$3,000 -der $4,000 .................................. 15,581 7,388
12,272 11,697 11,190 13,034 10,923 8,692 5,940
$4 , 000 under $5 , 000 .................................. 4,612
11,627 9,045 8,512 8,236 10,051 8,048 6,627 4$248 3,185
$5,000 under $10,000 .................................
32,848 28,882 24,8" 22,849 21,697 27,237 22,119 17,214 10,976
$10 , 000 under $15 , 000 ................................ 14,834 7$767
12,616 11,015 10,355 9,281 12,340 9,644 7,694
$15,000 under $20,000 ................................ 4,779 3,272
8 , 292 7 , 390 5 , 680 5, 230 4,970 6,894 5,361 4,097
$20,000 under $25,000 ................................ 2,597 1,890
5,167 4,672 3,612 3,171 2 , 894 4 , 283 3, 255
$25,000 under $50,000 ................................ 2 , 631 1,732 1,221
11,044 9,392 7 , 628 6 , 743 5 , 706 8, 685 6, 715 5,432 3,536 2,552
$50,000 under $100,000 ............................... 5,213 3,999 3,231 3,224 2,650 3,996 3,174 2,646 1,985 1,366
$100, 000 under $250 , 000 .............................. 2,478 2,026 1,867 1,549
$250,000 under $500,000 .............................. 1,198 1,953 1,577 1,418 1,291 809
747 518 389 394 273 544
$500,000 under $1,000,000 ............................ 444 432 469 276
264 195 184 172 127 226 167
$1 , 000 , 000 under $5 , 000, 000 .......................... 227 218 128
19 9 ill 84 82 64 129 92 124 192 83
$5,000,000 under $10,000,000 ......................... 21 8 10 3 1 11 7 17 18
$10,000,000 or more .................................. 10 7
5 3 2 5 5.1 4 9 18 5
Total .......................................... 281,628 1 256,208 1
1 229,494 1 213,329 203,031 2-10,070 1 198,383 169,276 131,942
- 118,106
'Historical table. do not include any data for inactive returns other t1-1 the =bar of returns in this
table.
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these
Data" for each of the years 1951-54 appears in the annual volume for those historical tables. ItDescription of the Sample and Limitations of
years.
148 CORPORATION INCOME TAX RETURNS, 1946-1954
ALL CORPORATION RETURNS
ToWe 3S.-NUMBRR OF RETURNS, BY INCOME AND DEFICIT STATUS, AND BY SIZE OF NET INCOME, DEFICIT, AND TOTAL ASSETS-Ca.U..d
Size of net income, deficit, and total assets 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
Number of returns of active corporations without net

income-Continued
Rct-ns ze
with balance sheets-
By i of deficit:
Under $1,000 ...................................... 514 75,409 71,788 73,194 67,676 60,021 52,136 51,954
$1,000 -der $2,000 ............................... 29 7 24,176 22,324 24,124 20,756 17,473 13,086 11,458
$2,000 under $3,000 ............................... 57,139 143,599 14,478 13,961 15,909 13,325 10,808 7,641 6,282
$3,000 under $4,000 ............................... 14: ~~
19 10,411 9,758 11,535 9,602 7,575 5,140 3,969
$4,000 under $5,000 .................................. 10,678 1 7,640 7,239 8,935 7,170 5,853 3,725 2,795
$5,000 under $10,000 ................................. 30,221 26,463 22,705 20,830 19,337 24,539 19,959 15,409 9,676 6,885
$10,000 under $15,000 ................................ 14,001 il,848 10,025 9,346 8,321 11,273 8,875 6,956 4,311 2,895
$15,G00 under $20,000 ................................ 7,909 6,796 5,176 4,810 4,498 6,317 4,971 3,742 2,349 1,695
$20,000 under $25,000 ................................ 4,841 4,424 3,338 3,022 2,667 3,960 3,013 2,421 1,561 1,097
$25,000 =der $50,000 ................................ 10,466 8,804 7,179 6,308 5,208 8,083 6,299 5,007 3,227 2,299
$50,DOO under $100,000 ............................... 4,967 3,835 3,081 3,027 2,427 3,755 2,988 2,463 1,820 1,212
$100,000 under $250,000 .............................. 2,357 1,833 1,774 1,466 1,092 1,856 1,485 1,320 1,193 720
$250,000 =der $500,000 .............................. 7C2 488 381 365 246 500 411 395 436 246
$500,000 under $1 000 COO . ......................... 253 178 171 157 117 212 153 201 197 112
$1,C)OO, CDC der 15, 660,0 66 . ......................... 191 103 82 79 58 122 84 113 174 75
$5,000,000 under $10,000,000 ......................... 20 7 10 3 1 ll 6 15 18 7

$10,000,000 or more .................................. 9 5 3 2 5 5 4 8 18 5
Total .......................................... 248,177 221,923 197,524 181,529 169,047 j 194,330 166,777 139,780 , 106,708 93,70

Under $25,000 ........................................ 98 : 380 110 , 807 93 , 169
130 , 112 121 , 238 114 , 178 122,664 log , 008 71 , 467 62 , 975
$25,000 und~r $50,000 ................................ 44 669
$50,000 under $1()O,CK)O ............................... 39,284 36,059 29,745 28,070 25,420 30,174 24,850 19,817 14,220 12,177
$100,000 -der $250,000 .............................. 35,745 30,825 25,139 22,699 19,395 24,371 19,488 15,466 11,307 9,938
$250,000 urder $500,000 .............................. 13,486 11,246 9,441 8,330 6,755 8,582 6,887 5,630 4,403 3,975
$500,000 under $1,000,000 ............................ 7 066 6,027 5,170 4,206 3,531 4,527 3,445 2,829 2,428 2,179
$1,000,000 =der $2,500,000 .......................... 5:103
, 5 , 575 5 , 037 3 , 421 2 , 650 3 , 356 2 , 571 2 , 260 2 , 226 1 , 949
$2,500,000 under $5,000,000 .......................... 1 925
$5,000,000 under $10,000,000 ......................... 1,239 1,028 965 359 268 361 279 291 297 264
$10,000,000 under $25,DDO,000 ........................ 844

920 676 220 187 242 202 238 275 195
$25,000,000 under $50,000,000 ........................ 246
$50,000,000 under $100,000,000 ....................... 110 79 68 32 19 36 32 49 41 24
$100,000,000 under $250,000,000 .................. .... 64
1
52 45 14 15 17 15 31 44 30
$250,000,000 or more ................................. 6
Total .......................................... 248,17? 221,923 197,524 181,529 169,047 194,330 1 166,777 139,780 1 106, 7;_r-
93,706
i
NCrE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. "Description of the Sample and Limitations of
Data" for each of the years 1951-54 appears in the annual volume for those years.
ACTIVE CORPORATION INCOME TAX RETURNS, 1945-1954 149
Table 39.-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, TAXES, DIVIDENDS PAID, AND TOTAL ASSETS, BY INCOME AND DEFICIT STATUS
Size of net income, deficit, and total 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
assets, selected items
RETURNS WITH NET INCUE

Number of returns .............................. 441,177 441,767 442,577 439,047 426,283 384,772 395,860 382,531 359,310 303,019
(Thw ..d d.11... )
Total compiled receipts ......................... 484,727,486 506,450,066 486,441,344 479,243,451 430,687,780 350,168,722 379,309,471 343,273,851 265,597,448 239,045,611
Net income-
By size of net income:
Under $1,000 ............................... 38,700 36:612 34:786 33,050 32,759 30,419 27,629 25,177 24,628
$1,000 under $2,000 ........................ 65,907 64 153 59 946 58,772 57,617 54,773 50,614 47,003 44,742
$2,000 under $3,000 ........................ 76,754 346,294 74,980 72,944 69,861 67,668 65,297 60,081 57,116 53,316
$3,000 under $4,000 ........................ 78,589 77,925 77,709 75,957 73,254 70,983 68,093 63,534 58,813
$4,000 under $5,000 ........................ 84,437 86,580 82,488 79,918 77,462 77,514 72,284 70,921 64,457
$5,000 =der $10,000 ....................... 424,565 444,201 447,571 434,990 419,384 383,819 394,052 382,820 371,280 354,661
$10,000 -der $15,000 .............. : ....... 445,048 446,043 458,022 442,428 421,169 376,268 393,774 393,070 376,641 330,635
$15,000 under $20,000 ...................... 442,707 463,245 483,872 478,606 437,797 365,754 391,366 384,253 363,745 269,914
$20,000 under $25,000 ...................... 551,439 595,915 594,566 586,340 555,877 415,460 455,811 461,735 408,159 233,398
$25,000 under $50,000 ...................... 1,219,066 1,107,461 1,162,855 1,284,587 1,293,807 1,064,615 1,227,329 1,283,695 1,248,324 810,206
$50,000 under $100,000 ..................... 1,320,471 1,320,177 1,443,968 1,595,179 1,689,930 1,359,347 1,638,322 1,694,769 1,600,462 1,013,553
$100,000 under $250,000 .................... 2,140,746 2,136,675 2,335,476 2,662,638 2,872,620 2,218,039 2,783,257 2,897,136 2,685,312 1,725,564
$250,000 under $500,000 .................... 1,885,549 1,878,541 2,080,026 2,316,018 2,496,855 1,812,221 2,371,864 2,530,132 2,350,407 1,597,154
$500,000 under ~110001000 .................. 2,058,194 2,129,879 2,260,864 2,569,229 2,775,818 lo933,252 2,512,794 2,642,213 2,458,464 1,756,507
$1,000,000 under $5,000,000 ................ 6,000,353 6,282,785 6,351,075 7,103,350 7,135,473 5,054,284 6,494,787 6,683,179 5,608,499 4,608,699
$5,000,000 under $10,000,000 ............... 3,051,816 3,225,102 3,129,000 3,705,378 3,275,777 2,482,857 2,933,395 2,747o218 2,180,118 2,046,643
$10,000,000 or more ........................ 19,688~489 21,"3,127 19,344,152 21,826,557 20,"8,676 12,799,841 14,377,513 11,012,370 7,269,430 7,172,315
Total ................................ 39,572,830 1 41,819,445 40,431,697 45,333,173 ",140,741 30,576,517 36,273,250 33,381,291 27,184,592 22,165,206
Tax liability:
Income tax ................................... 16,823,241 18,255,625 17,596,969 19,623,441 15,929,488 9,817,308 11,920,260 10,981,482 8,606,695 4,182,705
Excess profits taxes ......................... 37,711 1,613,424 1,550,725 2,458,676 1,387,444 - - - 268,145 16,612,045
Total tax ............................ 16,860,952 19,869,049 19,147,694 22,082,117 17,316,932 9,817,308 11,920,260 10,981,482 8,874,840 10,794,750
Dividends paid:
Cash and assets other than own stock ......... 11,590,810 11,422,624 11,133,098 11,180,692 11,454,755 9,409,065 9,278,833 8,222,121 7,241,416 5,917,615
Corporation's own stock ...................... 1,316,460 1,089,355 1,341,921 1,395,808 1,278,908 659,043 1,009,031 692,434 520,618 329,241
Returns with balance sheets:

Number of returns .............................. 419,6791 418,150 418,174 414,656 400,914 360,243 370,056 357,041 334,0421 281,2"
(7'h-..d d.11... )
Total compiled receipts ........................ 478,814,711 501,863,377 481,670,829 475,330,776 426,278,631 345,759,287 374,954,342 338,032,949 261,331,634 236,749,921
Net income-
Under $25,000 .............................. 120,604
370,499 382,451 412,103 377,926 328,092 414,137 469,177 550,914 402,439
$25,000 under $50,000 ...................... 234,277 1
$50,000 under $100,000 ..................... 517,966 539,017 576,278 601,065 597,873 512,544 656,281 738,923 741,778 440,054
$100,000 under $250,000 .................... 1,280,851 1,256,572 1,363,637 1,503,926 1,583,591 1,265,963 1,648,682 1,780,196 1,634,267 932,867
$250,000 under $500,000 .................... 1,251,113 1,227,289 1,335o390 1,587,620 1,743,870 1,323,712 1,756,020 1,854,660 1,699,506 994,883
$500,000 -der $1,000,000 .................. 1,456,570 1,470,884 11642,652 1,956,225 2,110,460 1,504,933 2,013,802 2,168,571 1,956,014 lo265,962
$1,000,000 -der $2,500,000 ................ 2,216,386 1
$2,500,000 under $5,000,000 ................ 4,307,847 4,692,487 5,551,271 5,775,187 3,986,167 5,217,992 5,576,262 4,893o536 3,592,722
1,928,440
$5,000,000 under $10,000,000 ............... 1,997,310 2,165,921 2,295,990 2,596,164 2,667,721 1,882,745 2,597,278 2,597,143 2,230,288 1,761,587
$10,000,000 under $25,000,000 .............. 3,067,361

6,065,047 6,053,324 7,245,938 6,947,211 4,627,127 5,388,913
$25,000,000 under $50,000,000 .............. 2,416,323 ) 5,743,243 4,340,505 3,949,629
$50,000,000 under $100,000,000 ............. 2,776,812 2,831,299 2,786,787 3,294,518 3,216,482 2,321,943 2,564,903 2,256,804 1,699,622 1,540,037
$100,000,000 under $250,000,000 ............ 3,840,756
21,206,337 18,956,422 20,153,793 18,684,058 12,404,332 13,178,638 9,959,064 6,934,206 7,064,743
$250,000,000 or more ....................... 16,032,409 4
Total ................................ 39,137,178 41,440,712 40,085,418 44,902,623 43,704,379 30,157,558 35,790,976 32,789,713 26,680,636 21,944,924
Tax liability:
Income tax . .................................. 16,645,457 18,098,932 17,464,824 19,460,465 15,789,124 9,688,489 11,771,279 10,766,777 8,"7,187 4,139,898
Excess profits taxes ......................... 36,828 1,594,314 1,537,527 2,"1,544 1,378,526 - - - 263,245 26,561,786
Total tax ............................ 16,682,285 19,693,246 19,002,351 21,902,009 17,167,650 9,688,489 11,771,279 10,786,777 8,710,432 10,701,683
Dividends paid:
Cash and assets other than own stock ......... 11,526,838 11,370,816 11,077,193 11,120,765 11,384,344 9,314,299 9,207,775 8,158,493 7,134,624 5,861,849
Corporation's own stock ...................... 1,311,537 1,085,462 1,338,850 1,392,580 1,275,934 653,255 1,006,567 687,556 515,824 326,544
Total assets-
Under $25,000 .............................. 900,512
$25,000 under $50,000 ...................... 2,233,889 3,238,242 3,228,883 3,237,239 3,109,279 2,928,563 3,077,065 3,061,604 3,019,887 2,629,990
$50,000 =der $100,000 ..................... 5,639,117 5,780,831 5,827,287 5,675,796 5,523,800 5,045,969 5,193,215 4,978,386 4,489,292 3,520,096
$100,000 under $250,000 .................... 15,777,491 15 503 348 15 464 265 15,218,500 14,690,700 12,659,891 12,816,227 11,914,529 10,340,778 7,980,522
$250,000 under $500,000 .................... 16,376,326 15:489:264 15:281:798 15,431,732 15,018,543 12,588,840 12,759,629 11,876,304 10,462,740 8,279,878
$500,()00 under $1,000,000 .................. 18,605,649 18,063,587 18~249,333 18,291,764 17,885,753 14,763,629 14,991,515 14,332,478 12,894,875 10,917,242
$1,000,000 under $2,500,000 ................ 30,861,505
61,329,541 61,875,422 61,921,178 60,305,769 52,682,371 53,810,178 52,676,053 48,810,390 43,928,294
$2,500,000 under $5,000,000 ................ 31,300,669 1
$5,000,000 under $10,000,000 ............... 35,632,677 35,904,953 36,089,493 34,530,700 32,950,356 29,411,144 31,118,756 29,907,787 27,531,276 25,749,568
$10,000,000 under $25,000,000 .............. 52,023,111 )

$25,000,000 under $5010001000 .............. 95,168,366 91,589,575 86,284,224 81,047,128 71,122,007 7Oo958,071 67,090,243 62,338,534 61,373,517
42,923,069
$50,000,000 under $100,000,000 ............. 48,035,863 46 685 693 " 981,075 41,932,891 40,200,668 36,321,304 34,941,583 32,348,093 29,660,167 28,181,256
$100,000,000 under $250,000,000 ............ 73,118,973
395:690,682 370:219,203 334,056,977 301,160,882 271,738,641 258,590,416 234,037,453 207,296,119 223,300,079
$250,000,000 or more ....................... 340,101,726
Total ................................ 713,530,5771 692,854,707 662,806,334 616,581,001 571,892,878 509,762,359 498,256,655 462,222,930 1416,844,058 415,860,"3
See footnotes at end of table. For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. "Description of the
Sample and Limitations of Data" for each of the years 1951-54 appears in the annual volume for those years.
150 ACTIVE CORPORATION INCOME TAX RETURNS, 1945-1954
Tabie 30-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, TAXES, DIVIDENDS PAID, AND TOTAL ASSETS, BY INCOME AND DEFICIT STATUS-Continued
Size of net income , deficit, and total 1954 1953 1952 1951 1950 1 549 1948 1947 1946 1945
assets, selected items
RETURNS WITHOUT NET INCOME

281,628 256,208 229,494 213,329 203,031 230,070 198,383 169,276 131,842 118,106
Number of returns ..............................
(Th-...d d.11.,.)
44,865,954 37,795,732 27,442,289 43,280,970 31,656,177 24,471,727 23,356,789 16,402,141

Total compiled receipts. ....................... 70,094,964 51,792,181
Deficit-
By size of deficit:
33 781 29:065 28,075 27,203 28,496 25,746 22,651 18,822 18,377
Under $1,000 ...............................
49:148 41 909 40,779 38,341 41,436 35,519 30,222 22,848 19,778
$1,000 under $2,000 ........................ ,
45,261 38,078 31,108 21,876 18,164
$2,000 -der $3,000 ........................ 52 859 43,603 40,472 39,931
54,144 42,615 40,605 38,817 45,293 37,916 30,237 20,648 16,000
$3,000 -der $4,000 ........................
41,039 37,978 36,858 45,039 36,031 29,680 19,060 14,283
$4,000 -der $5,000 ........................ 52,066
161,787 153,205 15()"67

193,129 116,77022
.. 6 111,9111 77,606 54,951
$5,000 under $10,000 ....................... 233,419 205,177 176,218
181,900 154,845 133,819 126,616 113,002 94,023 58,399 39,833
$10,000 under $15,000 ......................
127,467, 98,639 90,065 85,699 119,261, 1 92,688 70,682 44,787 32,606
$15,000 under $20,DOO ...................... 143,256
27,296
104,464 80,535 ?0,770 64,547 95,529 72,749 58,709 38,571
$20,000 under $25,C)O() ...................... 115,568
88,812
261,722 232,722 196,476 301,025 232,766 188,284 123,661
$25,000 -der $50,000 ...................... 380,845 322,582
357,672 274,686 223,620 221,635 181,533 275,754 219,384 181,875 137,131 95,165
$50,000 -der $100,000 .....................
231,123 1?8,154 293,903 236,550 216,576 197,498 123,023
$lDO,OOC under $250,000 .................... 377 363 302,314 276,433
250,347 174,295 134,651 132,5?5 92,736 185,025 151,415 148,083 162,760 97,148
$250,ODO under $500,000 .................... ,
184,573 132,234 125,083 121,806 88,902 155,283 118,864 155,639 151,709 90,118
$500,000 under $1,000,000 ..................
381,578 196,392 155,246 167,862 117,572 234,513 175,283 239,797 368,590 155,962
$1,000,000 under $5,000,000 ................
138,489 49,677 66,354 18,613 5,003 70,820 49,666 112,153 123,965 46,828
$5,000,000 under $10,000,000 ............... 403,775 87,904
68,125 44,967 24,100 69,458 100,646 51,107 226,926
$10,000,000 or more ........................ 257o387
1,975,518 1,787,583 1,527,437 2,381,680 1,848,226 1,958,563 1,991,706 1,026,250

Total ................................ 3,244,395 2,334,758
Dividends paid: 163,152

129,659 118,768 98,208 160,027 107,639 142,925 255,317
Cash and assets other than own stock ......... 322,620 178,133
5,194
33,581 20,905 21,699 33,354 13,552 25,200 15,676 8,333 6,827
Corporation~s own stock ......................
Returns with balance sheets: 106,708 93,706

221,923 197,524 181,529 169,047 194o330 166,777 139,780
Number of returns .............................. 248,177
(7h-.-d d.11.,.)
36,518,659 26,244,580 41,876,293 30,475,248 23,487,813 22,585,770 15,886,409

Total compiled receipts.. ...................... 68ol86,548 50,120,726 43,340,310
Deficit-
Under *25,000 .............................. 244
Oll 385,201 336,059 327,053 318,553 409,209 360,668 291,610 188,036 134,818
$25,000 under $50,000 ...................... 197,963
,
177,606 160,265 224,887 185,084 149,563 92,552 63,675
$50,000 under $100,000 ..................... 258,264 241,345 187,299
447,082 366,156 264,181 261,009 213,259 327,966 261,093 205,955 139,421 95,748
$100,000 under $250,000 ....................
286,934 233,656 193,063 177,032 139,773 217,954 179,259 154,070 115,933 81,321
$250,00C -der $500,000 ....................
218,810 182,690 161,635 121,666 212,475 155,297 142,068 118,661 72,222

$500,000 under $1,000,000 .................. 245,448
$1,000,000 under $2,500,000 ................ 315,053 306,182 281,519 228,495 352,485 266,412 263,853 288,512 165,342
336,008
$2,500,000 under $5,000,000 ................ 209,219
156,455 96,608 114,468 94,459 58,348 129,996 70,322 88,151 111,734 57,370
$5,000,DOO under $10,000,000 ...............
$10,000,000 under $25,000,000 .............. 196,188 154,548 98,234 78,555 1?8,224 122,860 230,520 256,239 61,556
158,787
$25,000,000 under $50,000,000 .............. 89,198
27,760 lG6,633 69,998 123,037 124,798 31,951
$50,000,000 under $100,000,000 ............. 147,614 90,221 51,464 33,441
$100,000,000 under $250,000,000 ............ 102,427
47,133 67,084 4?,892 39,150 56,622 34,317 125,545 424,297 146,947
$250,000,000 or more ....................... 144,641
3,040,497 2,173o925 1,857,038 lo659o880 1,385,824 2,216,451 1,705,310 1,774,372 1,860,183 930,949
Total ................................
Dividend. paid: 242,983 147,259

162,545 118,886 98,121 86,365 150,193 96,973 126,474
Cash and assets other than own stock. ........ 304,791
7,988 6,722 5,113
Corporation's own stock ...................... 32,153 20,106 21,295 32,615 13,131 24,676 15,351
Total assets-
Under $25,000 .............................. 1,006 8731
2:3116
":,2"23 2:200,164 2,061,621 1,972,202 2,230,873 1,929,454 1,599,237 1,176,053 1,017,670
$25,000 -der $50,000 ...................... 1,609,088
, 858,750
2 111,405 1,982,310 1,793,535 2,130o605 1,755,263 lo397,736 1,001,580
$50,000 under $100,000 ..................... 2,790,92
, 2 5 1
3,898,147 3,495,660 2,995,874 3,775,977 3,015,860 2,391,796 1,752,773 1,545,819
$100,000 under $250,000 .................... 5,601 958 4,802,993
2,898,482 2,346,292 2,978,121 2,385,848 1,965,319 1,534,678 1,386,628
$250,000 under $500,000 .................... 4,669,489 3,898,133 3,289,084
4,885o739
, 419 )11
4 175:3 10
3,597,221 2o915,740 2,452,006 3,139,678 2,370,146 1,96Oo221 1,689,778 1,519,614
$500,000 under $1,000,000 ..................
$1,000,000 under $2,500,000 ................ 7,956 5,149,497 6,615,688 4,987,171 4o490,676 4,564,263 3,979,107
:6. 50505 663,281 6,675,179
$2,500,000 under $5MO,000 ................ 6,821)024
1,841,811
7,140,659 6,727,258 2,486,847 1,817,102 2,472,245 lo942,412 2,042,326 2,095,972
$5,000,000 under $10,000,000 ............... 8,572,253
$10,000,000 under $25,000,000 .............. 12:9115,t

117,83 947 3,163,686 4,221,581 3,629,095 4,689,745 4,086,736 4,698,654 5,557,075 3,961,333
$25,000,000 under $50,000,000 .............. 8 48
7,508,600
, ~ 5:290
B 393 1 5,004,981 2,242,297 1,354,430 21 635 1 198 2,227,067 3,391,844 2,796,836 1,653,026
$50,000,000 under $100,000,000 .............
$100,000,000 under $250,ODO,OC1C ............ 9 756 495 2,966,337 3,131,182 2,179,403 8,454,304 15,692,107 7,837,065
9 301,066 8,402,703 1,962,864
$250pOOO,OOO or more ....................... 91193,935
1
59,057,930 30,942,581 26,476,370 33,799,312 26,879,360 32,392,113 37,861,115 25,600,826

Total.. .............................. 91,769,505
1
69,022,690 1
'Includes declared value excess-profits tax of ~55,039,000.

21ncludes declared value excess-profits tax of $53,740,000.
tables. "Description of the Sample and Limitations of
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical
ACTIVE CORPORATION INCOME TAX RETURNS, 194&1954 151
Table 4rO.-INCOMM STATEMENTS
Item 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
RETURNS WITH AND WITHOUT NET INCOAE

I Number of returns. ....................................... 722,805 697,975 672,0`71 652,376 629,314 614,842 594,243 551,807 491,152 __ 421,125 . 1
(Millim dollar,)
Receipts:
2 Gross sales ............................................ 443,637 452,061 429,514 421,922 374,406 320,598 339,081 364,296 234,924 203,575 2
3 Gmss receipts from operations .............. I .......... 85,269 82,507 79,805 75,281 65,475 56,859 56,484 49,498 40,763 40,455 3
bond premium):
4 Wholly taxable....................................... 2,112 2,128 1,932 1,549 1,554 1,493 1,477 1,567 1,740 1,502 4
5 Subject to surtax only ............................... 99 108 115 149 176 211 230 254 266 1307 5
6 Wholly tax-exempt .................................... 392 317 279 254 218 192 163 192 206 207 6
7 Other interest ......................................... 9,015 8,248 7,155 5,272 4,557 4,021 3,557 2,945 2,494 2,225 7
8 Rents .................................................. 4,772 4,390 4,137 4,038 3,562 3,147 3,057 2,841 2,585 2,358 8
9 Royalties .............................................. 570 546 538 501 468 473 452 373 290 254 9
10 Net short-term capital gain reduced by net long-term 71 30 25 32 32 25 22 24 39 44 10
capital loss.
11 Net long-term capital gain reduced by net short-term 1,930 1,235 1,354 1,390 1,097 698 827 901 1,173 879 11
capital loss.
12 Net gain, sales other than capital assets .............. 723 581 486 467 539 389 365 323 298 183 12
23 Dividends, domestic corporations ........................ 2,332 2,389 2,350 2,377 2,460 2,162 2,194 1,882 1,713 1,418 13
14 Dividends, foreign corporations ........................ 613 576 548 629 644 452 382 341 254 134 14
15 Other receipts ......................................... 3,287 3,127 3,069 1 3,178 2,942 1 2,729 2,675 2,308 1 2,210 1,907 15
16 Total compiled receipts .......................... 554,822 558,242 531,307 517,039 458,130 393,450 410,966 367,746 288,954 255,448 16
Deductions:
17 Cost of goods sold ..................................... 339,175 346,149 330,821 323,441 284,699 247,311 261,404 234,300 179,769 157,377 17
18 Cost of operations ..................................... 50,551 46,528 45,366 43,110 36,558 32,236 32,820 28,205 23,273 22,666 is
19 Compensation of officers ............................... 9,113 8,777 8,430 8,122 7,607 6,743 6,733 6,026 5,143 4,118 19
20 Rent paid on business property ......................... 5,069 4,804 4,485 4,222 3,866 3,641 3,525 3,245 2,823 2,558 20
21 Repairs ................................................ 5,026 5,573 5,068 4,731 3,750 3,533 3,826 3,408 2,716 2,624 21
22 Bad debt ............................................... 1,350 1,144 941 757 755 825 712 685 352 277 22
23 Interest paid .......................................... 6,271 5,681 5,013 3,701 3,212 3,045 2,759 2,501 2,251 2,306 23
24 Taxes paid ............................................. 12,477 12,195 11,697 11,031 9,013 8,361 7,482 6,893 5,831 5,585 24
25 Contributions or gifts ................................. 314 495 399 343 252 223 239 241 214 266 25
26 Amortization............................ 1 515 831 292 43 31 39 59 64 1,951 26
27 Depreciation............................ 13,6~'_
1 10,511 9,604 8,829 7,858 7,191 6,299 5,220 4,202 3,977 27
28 Depletion .............................................. 2,359 2,302 2ol26 2,085 1,709 1,476 1,711 1,210 799 693 28
29 Advertising ............................................ 5,770 5,481 5,027 4,553 4,097 3,773 3,466 3,032 2,408 1,923 29
30 Amounts contributed under pension plans ................ 2,840 2,936 2,552 2,327 1,661 1,216 1,153 1,038 835 766 30
31 Amounts contributed under other employee benefit plans. 911 861 630 - - - - - - 31
32 Net loss, sales other than capital assets .............. 281 484 329 284 223 -
227 239 325 240 464 32
33 Other deductions ....................................... 62,905 63oOO6 59,252 55,413 49,994 1 45,233 43,970 1 39,741 32,635 , 26,550 33
34 Total compiled deductions ........................ 518,102 518,441 492,572 473,240 415,299 365,063 376,378 336,130 263,555 234,102 34
35 Compiled net profit or net loss (16 less 34) ............. 36,721 39,801 38,735 43,800 42,831 28,387 34,588 31,615 25,399 21,345 35
36 Net income or deficit (35 less 6) ........................ 36,328 39,485 38,456 43,546 42,613 28,195 34,425 31,423 25,193 21,139 36
37 Net operating loss deduction............................. 438 413 396 402 345 196 204 184 140 114 37
38 Income tax ............................. 16,823 18,256 17,597 19,623 15,929 9,817 11,920 10,981 8,607 4 183 1 38
39 Excess profits taxes ................... 38 1,613 1,551 2,459 1,387 - - 268 26, 612 39
-
40 Total tax ........................................ 16,861 19,669 19,148 22,082 17,317 9,817 11,920 10,981 8,875 10,795 40
41 Compiled net profit less total tax (35 less 40) .......... 19,860 19,932 19,588 21,717 25,514 18,569 20,634 16,524 10,551 41
Dividends paid:
42 Cash and assets other then own stock ................... 11,913 11,601 11,263 11,299 11,553 9,569 9,386 8,365 7,497 6,081 42
43 Corporation's own stock ................................ 1,350 1,110 1,364 1,429 1,292 684 2668
1,025 701 527 334 43
RETURNS WITH NET INCO?E

1 Number of returns ........................................ .441,177 441,767 442,577 439,047 426,283 384,772 395,860 382,531 359,310 303,019 I
(Milli- d.11.,.)
Receipts:
2 Gross lea ............................................ 388,712 411,212 393,987 392,788 354,254 284,631 313o5O5 287,632 220,456 193,042 2
3 Gross receipts
so from operations ......................... 73,352 74,151 72,652 67,901 59,154 50,659 51,363 42,685 32,853 35,300 3
bond premium):
4 Wholly taxable ....................................... 1,996 2,007 1,808 1,518 1,330 1,473 1,454 1,526 1,702 1 476
5 Subject to surtax only............................... 98 107 114 147 175 210 228 246 259 3302
6 Wholly tax-exempt .................................... 384 311 274 248 215 189 157 187 200 202
7 Other interest ......................................... 7,674 7,142 6,308 5,204 4,491 3,927 3,470 2,850 2,412 2,160
8 Rent................................................... 3,883 3,684 3,505 3,385 3,098 2,712 2,650 2,448 2,159 1,999
9 Royalties .............................................. 522 500 498 471 437 445 429 342 259 234
10 Net short-term capital gain reduced by net long-term 61 25 20 29 29 22 19 22 34 39
capital loss.
11 Net long-term capital gain reduced by net short-term 1,812 1,150 1,286 1,320 1,056 645 787 847 1,118 844
capital loss.
12 Net gain, sales other than capital assets .............. 629 507 415 404 483 334 300 269 260 163 12
13 Dividends, domestic corporations ....................... 2,253 2,365 2,325 2,347 2,440 2,139 2,173 1,838 1,631 1,388 13
14 Dividends, foreign corporations ........................ 607 573 546 628 640 445 379 335 251 132 14
15 Other receipts ......................................... L 2,74, 2,715 1 2,702 2,854 2,686 2,336 2,395 2,047 2,002 1,763 , 15
1 1 1 1 1
16 Total compiled receipts .......................... 484,727 506,450 1 486,441 1 479,243 1 430,688 1 350,169 1 379,309 343,274 1 265,597 239.046 16
See footnotes at end of table. For explanatory statements and comparability of date, see the texts for the 1954 tables and for these historical tables. "Description of the
TWe 40-INCOME STATEMENTS-Continuod
1954 1953 1 1952 1951 1 1950 1 1949 1948 1 1947 1946 1945
(Ki Ili- d. I I-)

RETURNS WITH NET INCOIE-C-tieued
Deduction :
17 Cost of ods sold ..................................... 293,707 312,440 301,067 299,193 268,174 217,267 239,64C 220,467 167,565 148,747 17
18 cost of go 42,352 40,970 40,835 38,792 32,628 28,156 29,425 24,123 17,837 19,4(Y7 18
]Q Cole... Jon
op"81i
If 11*11*1****"*****",*,*,*"'',***,****
ffi"rs ............................... 7,358 7,305 7,201 7,070 6,741 5,522 5,838 5,338 4,634 3,732 19
20 Rent id on b-iness property ......................... 4,023 4,015 3,822 3,629 3,377 2,980 3,060 2,761 2,268 2,237 20
a 4,',3 5,216 4,758 4,460 3,524 3,218 3,596 3,206 2,371 2,361 21
21 Rep.i p' ................................................
22 Bad
n "r_
db ............... , ....... F~7 77? 681 662 659 681 604 558 280 220 22
21 ps i ....................................... 4,650 4,434 3,966 3,236 2,809 2,568 2,374 2,076 1,747 1,949 23
10,941 11,221 10,822 10,288 8,405 7,602 6,912 6,245 5,098 5,D65 24
2' C-,l.ributics
P. 4d
. .............................................
or gifts ................................. 309 491 396 341 250 220 236 238 211 263 25
21 :.: 1:465 818 286 41 27 34 50 39 1,649 26
11 , 687
27 Depreci. .... **'*..'"'*'..*'*'. "..*". .* ***** ...... . 9 297 8,635 8,011 7,146 6,244 5,666 4,622 3,660 3,531 27
28 D',pl,ti,n .............................................. 2,198 2,152 1,993 2,005 1,650 1,386 1,666 1,164 ?53 610 28
29 Advertising ............................................ 4,975 4,917 4,587 4,155 3,810 3,292 3,171 2,773 2,220 1,826 29
Amunts
u a ontributed under , pension
t plans ................ 2,685 2,853 2,480 2,270 1,623 1,171 1,121 976 764 7" 30
31
30 Amo Tt,,,,, rtribut tdand, '.her employee benefit plans. 824 808 599 31
32 N, o h r thana pital assets .............. IG6 312 204 180 95 82 105 90 95 215 32
33 Other
t odelu,,ians..
sal ..................................... 53,544 55,645 52,872 49,084 45,402 1 38,988 39,433 35,018 28,672 24,122 33
3,, T,t.1 c.mpil~i deductions ........................ 444,770 464,319 445,736 433,663 386,332 319,403 342,879 309,705 238,212 216,679 34
11 ~;-pllcd net profit (16 less 1.) ......................... 39,95? 42,131 40,705 45,581 44,356 30,766 36,430 33,568 27,385 22,367 35
Net .
36 ,, t -..e (35 Icss 6) ................................... 39,573 41,819 40,432 45,333 44,141 30,577 36,273 33,381 27,185 22,165 36
T, operating loss deducti- ............................ 438 4.13 396 402 3.45 196 204 194 140 114 -37
3' Inc.- t ....................................... .... 16,823 18,256 17,597 19,623 15 929 9,817 13,920 10,981 8,607 4,183 38
1,613 1,551 2,459 - - - 268 26 612 39
39 Excess profits taxes ............................ - :: *..... 38 1,387
,0 T.',.l tax ........................................ 16, 61 1 869 19,148 22,082 17,317 9,817 11,920 10,981 8,875 10,795 40
41 Compiled ~,net iprofit less total tax (35 less 40) .......... 23,096 22,262 21,558 23,499 27,039 20,948 24,510 22,587 18,510 11,572 41
Dividend
. P. sd:
42 Cash od , set, the, than own t.cl ...................
C_po_ti_,~ 11,592 11,423 11,133 11,180 11,455 9,4D9 9,279 8,222 7,241 5,918 42
43 own stock ................................ 1,316 1,089 1,342 1,396 1, 279 659 1,0()9 692 521 329 43
'i e "Interest on Goverment obligations subject to declared value excess-profits tax and surtax" of $301,280,000.
,lc1lud(,L;
a
,, nclud leclaredt lue ex~ss-profita tax of $55,039,000.
a Interes on Goverment obligations subject to declared value excess-profits tax and surtax" of $296,366,C)OO.
nelud, va
NOTE
" For explanatory
the statements and comparability of data, see the texts for the 1954 tables and for these historical tables. "Description of the Sample and Limitations of
Dot. :
for ..h of years 1951-54 appears in the annual volume for those years.
T-bl. 41.-BALANCE SHEETS AND RELATED INCOME STATEMENTS
Its. 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
RETURNS WITH AND WITHOUT NET INCOME

1 Number of returns with balance sheets ......................... 667,856 640,073 615,698 596,385 569,961 1 554,573 536,833 496,8211 "0,750 374,950 1
(Niffi- d.11 ...
Assets:
2 Cash,*,,*,,*c ..... ........... 81,723 80,171 ?9,597 76,853 71,018 63,864 65,737 64,369 58,502 57,717
3 Note.
Less:and receivable ............................... 161,084 150,435 142,777 121,054 110,527 86,966 85,896 76,863 62,143 52,274
4 Rese
c rve
untsfor bad debts .............................. 2,346 2,153 1,875 1,740 1,618 1,440 1,299 904 773 6"
5 inventories ................................................. 62,914 65,519 64,520 63,776 54,496 44,726 48,293 "'009 36,965 26,067
6 Prepaid expenses and supplies ............................... 2,091 - - - - - - - - -
States, Territories, and United States possessions ........ 17,76'
United States obligations ................................. IDS, 573 123,599 120,303 108,939 109,822 110,969 104,819 108,774 109,910 129,935
t stated ................................................ 5,075 1
Other
No investments ........................................... 160,553 147,188 132,512 104,883 96,760 91,152 84,202 78,363 77,089 74,026
Gross capital assets (except land) .......................... - 260,460 243,859 227,882 209,098 195,024 180,562 163,7" 148,968 138,"4
Less: Reser as ....................... - 90,403 84,283 78,787 74,283 68,986 64,225 60,664
:---**-*-* 57,421 54,668
Depreciable assets .......................................... 266,934 - - - - - - - - -
Less: Accumulated amortization and depreciation .......... 93,274 - -
Depletable assets ........................................... 8,921 - - -
Less: Accumulated depletion .............................. 3,772 - - - - - - -
La ........................................................ 10,977 10,555 9,970 10,230 9,876 9,581 9,313 9,115 8,782 8,282
Intangible
'd assets ........................................... 1,651 - - - - - - - -
Other assets ................................................ 16,436 16,506- 14,485 14,434 12,674 11,709 11,838 10,946 10,541 10,029
Total assets .......................................... 805,300 761,877 721,864 647,524 598,369 543,562 525,136 494,615 454,705 441,461
Liabilities:
Accounts payable............................................ 38,153 35,554 35,827 33,352 31,298 24,896 26,302 25,537 21,336 17,455 21
Maturity less than 1 year.. ............................... 23,239 21,394 20,996 19,240 15,945 11,801 12,225 11,289 9,504 7,208 22
Maturity 1 year or more ................................... 90,797 86,607 80,628 72,835 65,719 61,851 57,326 50,106 44,968 40,987 23
Accrued expenses ............................................ 19,373 - - - - - - - - - 24
Other liabilities ........................................... 353,969 353,141 330,406 283,058 261,899 236,716 232,064 227,114 214,283 221,286 25
Capital stock, preferred .................................... 15,632 15,615 15,831 15,595 14,906 15,365 14,957 15,007 14,857 14,764 26
Capital stock, common. ...................................... 90,730 88,121 85,365 82,804 79,310 78,944 76,774 72,463 68,334 64,747 27
Surplus reserves ............................................ 14,197 13,294 13,472 12,739 12,410 11,178 11_345 11,303 11,004 11,057 28
Surplus and undivided profits ............................... 159,210 147,951 139,339 127,899 116,983 102,809 94,144 81,794 70,420 63,957 29
Total liabilities ..................................... 805,300 761,877 721,864 647,524 598,369 543,562 525,136 494,615 454,705 441,461 30
1 Receipts:
3 Gross sales ................................................. 437,316 "7,116 424,670 418,056 370,249 316,257 334,988 299,771 231,0" 201,546 31
32 Gross receipts from operations .............................. 84,162 81,522 78,695 74,317 64,417 55,748 55,394 48,1?5 39,940 39,910 32
bond premium):
33 Wholly taxable ............................................ 2,088 2,113 1,918 1,535 1,538 1,476 1,465 1,556 1,723 1 491 33
34 Subject to surtax only .................................... 96 108 115 148 175 210 230 253 263 1305 34
35 Wholly tax-exempt ......................................... 389 315 278 253 217 189 162 192 204 206 35
36 Other interest .............................................. 8,928 8,195 7,097 5,229 4,520 3,987 3,529 2,920 2,462 2,206 36
37 Rents ....................................................... 4,649 4,269 4,009 3,911 3,433 3,025 2,937 2,690 2,469 2,257 37
38 Royalties ................................................... 558 533 527 481 456 461 438 364 283 248 38
39 Net short-term capital gain reduced by net long-term capital 70 28 25 31 31 24 21 23 36 42 39
loss.
40 Net long-term capital gain reduced by net short-term capital 1,885 1,196 1,312 1,331 1,036 665 781 818 1,105 836 40
loss.
41 Net gain, sales other than capital assets ................... 695 556 467 446 491 360 339 300 278 175 41
42 Dividends, domestic corporations ............................ 2,309 2,371 2,325 2,351 2,434 2,126 2,149 1,860 1,691 1,401 42
43 Dividends, foreign corporations. ............................ 613 575 544 628 641 448 375 340 252 134 43
" Other receipts .............................................. 3,245 3,085 3,030 3,132 2, M 2,658 2,623 2,259 2_167 1,879 44
45 Total compiled receipts ............................... 547,001 551,984 525,011 511,849 452,523 387,636 405,430 361,521 283,917 252,636 45
Deductio :
Cost of goods sold .......................................... 334,348 342,235 326,887 320,462 281,415 2",008 258,169 230,769 176,770 155,826
Cost of operations .......................................... 49,878 45,979 44,710 42,584 35,958 31,577 32,236 27,377 22,782 22,359
Compensation of officers .................................... 8,960 8,621 8,282 7,979 7,457 6,604 6,594 5,893 5,033 4,034
Rent paid on business property.. ............................ 4,968 4,734 4,406 4,161 3,798 3,561 3,462 3,127 2,765 2,515
Repairs ..................................................... 4,954 5,505 5,017 4,683 3,708 3,496 3,786 3,341 2,670 2,597
Bad debts ................................................... 1,334 1,127 929 744 745 810 700 675 344 269
Interest paid.. ............................................. 6,191 5,622 4,949 3,646 3,154 2,985 2,697 2,429 2,198 2,258
Taxes paid .................................................. 12,305 12,069 11,573 10,904 8,899 8,236 7,368 6,742 5,7_34 5,514
Contributions or gifts ...................................... 311 492 396 341 250 220 237 238 211 264
Amortization................................................ 508 827 291
13,486 1 43 30 39 58 63 1,931
Depreciation................................................ 10:386 9,493 8,733 7,754 7,064 6,201 5,124 4,131 3,921
Depletion ................................................... 2,242 2,284 2,113 2,066 1,692 1,427 1,699 1,201 778 679
Advertising ................................................. 5,697 5,4097 4,977 4,513 4,042 3,711 3,429 2,988 2,355 1,907
Amounts contributed under pension plans ..................... 2,803 2,922 2,538 2,319 1,655 1,196 1,143 1,031 827 764
Amounts contributed under other employee benefit plans ...... 900 855 628 - - - - - -
Net loss, sales other than capital assets ................... 250 437 314 258 191 190 -208 264 200 415
Other deductions ............................................ 61,887 62,216 58,465 54,670 49,229 44,391 43,214 39,054 32,033 26,161
Total compiled deductions ............................. 510,515 512,402 486,504 468,354 409,988 359,505 371,182 330,314 258,893 231,417
64 Compiled net profit or net loss (45 less 63). ................. 36,486 39,582 38,507 43,495 42,535 26,130 34,248 31,207 25,025 21,220 64
65 Net income or deficit (64 less 35) ............................ 36,097 39,267 38,228 43,243 42,319 27,941 34,086 31,015 24,820 21,014 65
66 Net operating loss deduction .................................. 424 397 381 388 332 187 195 176 132 109 66
67 Income tax ................ ................................... 16,645 18,099 17,465 19,460 15,789 9,688 11,771 10,787 8,447 4,140 67
68 Excess profits taxes. ......................................... 37 1,594 1,536 2,442 1,379 - - 263 26,562 68
69 Total tax ............................................. 16,682 19,693 19,002 21,902 17,168 9,688 11,771 10,787 8,710 10,702 69
70 Compiled net profit less total tax (64 less 69) ............... 19,804 19,889 19,504 21,593 25,368 18,442 22,477 20,420 16,314 10,518 70
Dividends paid:
71 Cash and assets other then own stock. ....................... 11,832 11,533 11,196 11,219 11,471 9,464 9,305 8,285 7,378 6,009 71
72 Corporation's own stock................................. ... 1,3" 1,106 1,360 1,425 1,289 678 1,022 696 523 332 72
See footnotes at end of table. For explanatory statements and comparability of data, see the texts for the 1954
tables and for these historical tables. "Description of the
T.M. 41.-BALANCE SHEETS AND RELATED INCOME STATEMENTS-Cond.wed
Item 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945

418,174 400,914 360,243 370,056 1 357,041 334,042 281,244 1
1 Ramber of returns with balance sheets and with net income ..... 419,679 418,150
(Nilli- db ll ...
Assets:
?6,086 76,173 76,116 74,893 69,316 61,512 63,733 61,983 55,782 55,674 2
2 Cash
3 Notes .. - accounts
........ receivable ...............................
....... 147,688 139,728 132,843 116,505 106,655 81,798 81,883 73,114 58,429 49,7919 3
Lee.:and 1,724 1,641 1,536 1,298 1,199 831 689 592 4
4 Reserve for bad debts. ............................. 2,117 1,953
5 Inventories ................................................. 54,835 59,574 59,307 59,280 51,593 39,543 44,714 40,783 33,122 24,464 5
- - - - - - - - - 6
6 Prepaid expenses and supplies ............................... 1,760

7 States, Territories, and United States possessions ........ 1.""3
17,322 7
United States obligations ................................. 118,266 114,694 107,249 108,649 109,842 103,243 106,091 107,980 128,084 6
8
Ot Not stated .................. . ........................... 4,608 1 9
9
124,123 114,754 101,946 93,969 87,986 81,432 73,760 71,761 70,315 10
0 her investments ........................................... 131,759
I Gross capital assets (except land) .......................... - 236,394 222,953 209,985 192,817 174,470 165,981 145,931 124,948 121,053 11
2 Less: Reserves ........................................... - 82,533 77,606 73,369 69,408 62,131 59,944 55,457 50,084 48,496 12
- - - - - - - - - 13
3 Depreciable c assets.. ........................................ 230,825
- - - - - - - - - 14
4 Ac mulated amortization and depreciation .......... 81,526
Depletable assets ........................................... 7,028 - - - - - - - - - 15
5 Less:
- - - - - - - - - 16
6 Less: Accumulated depletion .............................. 3,064
7 Land ........................................................ 8,663 8,420 8,409 8,659 8,388 7,905 7,828 7,706 7,363 6,678 1?
1,274 - - - - - - - 18
8 Intangible assets ...........................................
9 Other asset ................................................. 14,295 14,663 13,060 13,075 11,450 10,136 10,585 9,144 8,232 8,882 1 19
Total assets .......................................... 713,531 692,855 662,8061 616,581 571,893 509,762 498,257, 462,223 416,844 415,860
GG 2C
0 1
Liabilities:
1 Accounts payable ............... 31,317 30,398 31,265 29,315 27,877 20,800 23,024 22,127 18,051 15,399 21
..... ...........
Bonds, notes, mortgages payable.:--
2 Matu~ ity less than 1 year ................................. 17,792 17,764 17,649 16,396 13,660 9,352 9,945 9,324 7,903 6,100 22
3 Maturity 1 year or more ................................... '72,373 73,239 69,086 63,157 56,808 52,091 49,748 41,122 34,141 33,434 23
- - - - - - - - - 24
4 Accrued expenses ............ .............. ................ 18,028
5 Other liabilities ........................................... 320,101 322,703 304,837 278,336 257,835 232,324 227,016 220,061 208oll5 216,369 2~
6 Capital stock, preferred ........................... ........ 13,468 14,467 14,609 14,518 13,775 13,720 13,661 13,754 13,381 13,417 2E
7 Capital stock, common ....................................... 77,809 78,962 77,127 75,576 72,635 69,894 69,603 64,229 58,605 57,692 21,
~8 Surplus reserves ............................................ 11,840 11,759 12,131 12,347 11,757 10,501 10,766 10,554 9,873 10,463 2E
Surplus and undivided profits ............................... 150,801 143,563 136,103 126,935 1 117,547 101,080 1 94,495 81,051 1 66,776 62,987 1 29
9
'0 616,581 571,893 509,762 1 499,257 462,223 416,844 415,960 3C
Total liabilities ........ ............................ 713,531 692,855 662,806
Receipts:
11 Gross sales ................................................. 383,825 407,535 390,320 389,789 350,858 281,312 310,249 283,734 217,059 191,286 32
Gross receipts from operations .............................. 72,632 73,488 71,819 67,271 58,450 49,856 50,538 41,647 32,252 34,932 32
12
bond premium):
Wholly taxable.. .......................................... 1,975 1,992 1,795 1,506 1,517 1,458 1,444 1,516 1,686 1 468 31
13 1 300
114 146 174 209 228 246 256 34
~4 Subject to surtax only .................................... 96 107
273 246 214 187 157 187 199 201 3f
~5 Wholly tax-exempt ......................................... 381 310
~6 Other interest .............................................. 7,608 7,101 6,261 5,171 4,466 3,903 3,452 2,835 2,3190 2,149 3E
17 Rents ......... ............................................. 3,798 3,607 3,415 3,300 3,011 2,629 2,573 2,338 2,082 1,938 Y,
Royalties ............ ...................................... 512 488 487 452 427 435 417 335 253 229 3E
is
28 21 18 20 32 38 39
39 Net short-tem capital gain reduced by net long-tem capital 60 24 20 28
loss.
998 613 743 766 1,052 803 4C
~O Net long-tem capital gain reduced by net short-tem capital 1,772 1,114 1,247 1,264
loss.
1.1 Net gain, sales other than capital assets ................... 606 486 399 387 441 309 281 249 243 157 4'
Dividends, domestic corporations ......... .................. 2,231 2,349 2,305 2,321 2,415 2,105 2,130 1,818 1,612 1,371 4;
'.2
627 637 441 372 334 249 132 4
0 Dividends, foreign corporations ...... ...................... 606 573 543
" Other receipts .............................................. 2,713 2,689 2,674 2,822 1 2,643 2,280 1 2,354 21009 1 1,966 1,7431 4,
481,671 475,331 1 426,279 345,759 374,954 338,033 261,332 236,750 4-
Total compiled receipts ........ ...................... 478,815 501,863
Deductions:
'.6 Cost of goods sold .......................................... 290,066 309,570 298,138 296,919 265,506 214,823 237,119 217,464 164,981 147,423 41
1.7 Cost of operations .......................................... 41,934 40,619 40,331 38,460 32,250 27,684 28,997 23,478 17,484 19,212 4'
1.8 Compensation of officers .................................... 7,264 7,208 7,102 6,975 6,641 5,437 5,743 5,244 4,554 3,673 4~
Rent paid on business property .............................. 3,959 3,977 3,772 3,596 3o341 2,933 3,022 2,667 2,229 2,209 41
0
Repairs ........................... ......................... 4,472 5,169 4,721 4,425 3,498 3,194 3,569 3,152 2,338 2,342 51
50
51 Bad debts ................................................... 880 770 675 657 652 674 598 553 277 216 5
:
Interest paid ...................... ........................ 4,606 4,399 3,928 3,206 2,777 2,532 2,337 2,030 1,719 1,923 5,
52
Taxes paid .................................................. 10,815 11,137 10,734 10,194 8,325 7,506 6,826 6,126 5,024 5,015 5,
53
Contributions or gifts ..... ... ............................ 307 488 393 339 248 217 234 235 208 261 5,
54
55 Amortization ............................................ : ... 1,459 814 285 41 27 34 50 37 1,630 5~
11 , 547 8,557 7,946 7,077 6,150 5,593 4,550 3,606 3,489 5,
56 Depreciation ............................................ ... 9,223
2,089 2,140 1,981 1,987 1,634 1,339 1,655 1,156 733 598 5'
57 Depletion ...................................................
58 Advertising ................................................. 4,926 4,864 4,548 4,128 3,767 3,244 3,144 2,740 2,171 1,813 5
Amounts contributed under pension plans .. ................... 2,653 2,942 2,468 2,263 1,617 1,152 1,112 971 757 741 51
59 - - - -
Amounts contributed under other employee benefit plane ...... 816 804 597 - - - &
50
Net loss, sales other than capital assets ................... 104 310 201 178 92 79 103 89 93 210 6
61
Other deductions ............................................ 52,859 55,132 1 52,352 48,623 1 44,896 , 38,423 1 36,920 34,552 1 28,241 23,848 16,
62
Total compiled deductions ............................. 439,296 460,112 1 441,312 430,182 1 382,360 315,415 339,W7 305,057 234,452 214,604
6G4 6
63
32,976 26,880 22,146
2 .6 6
64 Compiled net profit (45 less 63) ..................... ........ 39,518 41,751 40,358 45 43 : 919 30,344 35,948
41,441 40,085 :9113
1" 43 704. 30,158 35,791 32,790 26,681 21,945
4 6
65 Net inc~ (64 less 35) .............................. * ........ 39,137
3197 381 388 332 187 195 176 132 109 6
66 Net operating lose deduction.................................. 424
67 Income t ax .................................................... 16,645 18,099 17,465 19 460 15 789 9,688 11,771 10,797 8,447 4,140 6
37 1,594 1,538 2:442 1 , 379 - - - 263 261'' 562 6
68 Excess profits taxes..........................................
69 Total t .............................................. 16,682 19,693 19,002 21,902 17,168 9,688 11,771 10,787 710 10,702 &
Compiled net profit less total tax (64 less 69) ............... 22,836 22,058 21,356 23,247 26,751 20,656 24,176 22,190 18,169
70
Dividends paid:
11,077 11,121 11,384 9,314 9,208 8,158 7,135
71 Cash and assets other than own stock ............... ....... 11,527 11,371
Corporation's own stock ............................ :: ....... 1,312 1,085 1,339 1,393 1,276 653 1, 007 688 516
72
of $300,078,000.
'Includes "Interest on Goverment obligations subject to declared value excess-profits tax and surtax,-
21ncludes declared value excess-profits tax of $53,740,000.
31ncludes -Interest on Goverment obligations subject to declared value excess-profits tax and surtax" of $295,228,000.
NOTE: For explanatory statements and cowparability of data, see the texts for the 1954 tables and for these historical tables. -Description of the Sample and Limitations of
Data" for each of the years 1951-54 appears in the annual volme for those years.
Table 42.-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME ~AND DEFICIT STATUS
Major industrial group, selected items 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
ALL INDUSTRIAL GROUPS

Total number of returns of active corporations:
With net income .............................. 441,177 441,767 442,577 439,047 426,283 384,772 395,860 382,531 359,310 303,019
Without net income ........................... 281,628 1 256,208 229,494 213,329 203,031 230,070 198,383 169,276 131,842 118,106
(A ...d d.11...
Returns with net income :
Total compiled receipts ...................... 484,727,486 506,450,081 486,441,344 479,243,451 430,687,780 350,168,722 379,309,471 343,273,851 265,597,448 239,045,611
Net income ................................... 39,572,830 41,819,445 40,431,697 45,333,173 44,140,741 30,576,517 36,273,250 33,381,291 27,184,592 22,165,206
Total tax .................................... 16,860,952 19,869,049 19,147,694 22,082,117 17,316,932 9,817,308 11,920,260 10,981,482 8,874,840 10,794,750
Income tax ............................... 16,823,241 18,255,625 17,51)6,969 19,623,"l 15,929,488 9,817,308 11,920,260 10,981,482 8,606,695 4,182,705
Excess profits taxes ..................... 37,711 1,613,424 1,550,725 2,458,676 1,387,444 - - - 268,145 6,612,043
Returns without net income:
Total compiled receipts ...................... 70,094,964 51,792,181 ",865,954 37,795,732 27,442,289 43,280,970 31,656,177 24,471,727 23,356,M9 16,402,141
Deficit ...................................... 3,244,395 2,334,758 1,975,518 1,787,583 1,527,437 2,381,680 1,848,226 1,958,563 1,991,706 1,026,250
TOTAL AGRICULTURE, FORESTRY, AND FISHERY

With net income .............................. 4,741 4,963 4,988 5,389 5,039 4,312 4,553 4,444 4,260 3,865
Without net income ........................... 4,038 4,442 3,881 3,345 3,261 3,694 3,141 2,885 2,403 2,287
(Th-...d d.11...
Returns with net income:
Total compiled receipts ...................... 1,831,616 1,911,644 2,090,020 2,192,596 1,907,678 1,616,005 1,642,670 1,486,572 1,138,035 893,856
Net income ................................... 176,168 180,926 194,358 288,619 320,571 209,591 245,694 239,190 205,244 149,892
Total tax .................................... 65,769 72,839 77,436 107,158 102,779 66,637 79,060 76,778 67,955 63,727
Income tax ............................... 65,713 71,522 75,637 102,372 97,462 66,637 79,060 76,778 65,511 32,848
Excess profits taxes ..................... 56 1,317 1,799 4,786 5,317 - - - 2,444 30,880
Ret-a without net income:
Total compiled receipts ...................... 440,961 480,999 470,427 274,787 223,287 286,205 219,272 183,940 136,560 99,516
Deficit ...................................... 53,885 68,904 55,396 29,702 26,074 32,249 26,148 23,848 21,669 16,079
FARMS AND AGRICULTURAL SERVICES

With net income .............................. 4,428 4,671 4,598 5,022 4,648 4,010 4,213 4,103 3,914 3,568
Without net income ........................... 3,543 4,022 3,557 3,006 2,913 3,326 2$808 2,557 2,127 2,069
(A-.-d d.11...
Rat urn a with net income:
Total compiled receipts ...................... 1,767,272 1,843,398 2,006,986 2,120,960 1,836,004 1,568,878 1,582,246 1,424,561 1,078,783 847,907
Net income ....... ............................ 163,836 169,591 181,044 276,046 305,025 202,056 233,092 227,600 194,311 142,890
Total tax .................................... 62,004 68,91:0 73,218 103,462 98,451 64,619 75,559 73,577 64,857 60,779
Income tax ............................... 61,948 67,602 71,482 98,748 93,168 64,619 75,559 73,577 62,436
Excess profits taxes ..................... 31,473
56 1,308 1,736 4,714 5,283 - - - 2,421 29,306
Total compiled receipts ...................... 413,803 455,709 440$319 245,928 205,791 269,754 198,577 167,299 126,700 93,951
Deficit ...................................... 49,369 64,785 51,927 26,846 21,391 29,538 23,819 21,439 19,837 13,481
FORESTRY
With net income .............................. 160 170 216 148 196 139 157 189 200 145
Without net income ........................... 102 107 96 87 98 128 102 107 121 116
(Aw-d doll-)
Raturn a with net income:
Net income ................................... 10,674 9,687 11,435 9,542 12,994 5,481 9,269 9,208 7,226 2,559
Total t ax .................................... 3,513 3,423 3,589 2,687 3,618 1,457 2,488 2,506 1,883 724
Income tax ............................... 3,513 3,423 3,539 2,667 3,604 1,457 2,488 2,506 1,883 690
Excess profits taxes ..................... - - 50 20 14 - - - - 34
Deficit ...................................... 553 1,052 593 267 1,629 1,042 657 611 938 2,058
FISHERY
With net income ....................... 153 122 174 219 195 163 183 152 146 152
Without net income .................... 393 313 228 252 250 240 231 221 155 102
(Th--d d.11...
Net income ................................... 1,658 1,648 1,879 3,031 2,552 2,054 3,333 2,382 3,707 4,442
Total tax .................................... 252 506 629 1,009 710 561 1,013 695 1,215 2,224
Income tax ............................... 252 497 616 957 690 561 1,013 695 1,192 685
Excess profits taxes ..................... - (1) 13 52 20 - - - 23 1,540
Deficit ...................................... 3,963 3,067 2,876 2,589 3,054 1,669 1,672 1,798 894 .541
'Sampling variability of this item was too large to warrant showing it separately. However, this value was included in industrial division total.
NOTE'. For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. -Description of the Semple and Limitations of
Data" for each of the years 1951-54 appears in the annual volume for those yeaza.
448404 0 - 57 - 11
156 ACTIVE CORPORATION INCOME TAX MURNS, 194&1%4
Table 42.--NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TA)=, BY MAJOR INDUSTRIAL GROUP AND BY INCOME.AND DEFICIT STATUS-Conti-od
TOTAL MINING AND QUARRYING

With net incoine .............................. 4,248 4,271 4,839 4,966 5,032 4,766 5,503 4,954 4,137 3,694
(7h-...d dbi I...
Returns with net incoine
Total compiled receipts ...................... 6,708,513 7,685,868 8,047,731 8,462,731 7,662p486 5,863p422 7,337,631 5,552,564 3,745,073 3,352,021
get incom ................................... 946,048 1,101,205 1,101,093 1,225,061 1,175,237 804,561 1,221,825 859,544 400,555 299,656
Total tax .................................... 428,714 513,351 507,389 560,737 447p481 267,682 413,678 292,195 132,620 118,368
Income tax ............................... 427,464 491,215 493,188 534,509 430,570 267,692 413,678 292,195 131,692 86,528
&ease profits taxes ..................... 1,250 22,136 14,201 26,228 16,911 - - - 928 31,840
Returns without net incose :
Total compiled receipts... ................... 1,842,406 1,667,228 1,668,791 1,228,120 946,072 "
'0_L 962,051 569,364 494,039 554 485 601,662
Deficit ...................................... 205,135 156,072 120,234 104,990 ~5 108,784 68,842 73,493 57,268
MINING AND QUARRYING: METAL MINING

With net income .............................. 215 205 188 226 209 175 230 224 227 205
(Th... d d.11.,.)
Total compiled receipts ...................... lo23lp859 1,257,904 lo251,404 l,"8,273 1,234p475 854,624 1,190,474 922,150 618,887 662,8D4
Net income ................................... 244,166 231,090 237,507 321,365 288,234 151,989 282,277 208,177 88,013 79,265
Total tax.. .................................. Illp268 113,154 103,357 149,382 108,932 48p334 88,281 69,373 26,070 26,302
Income tax ............................... 11-1,268 104,228 100,886 141,962 105,467 48p334 88,281 69,373 26,061 24,113
Excess profits taxes ..................... - 8,926 2,471 7p420 3,465 - - - 9 2,190
Deficit ...................................... 42,395 16,499 14,122 llp027 6,953 10,416 loo823 13,026 11,713 10,282
MINING AND QUARRYING: ANTHRACITE MINING

With net income .............................. 57 80 75 105 93 117 102 106 85
Without net inco me ........................... 83 150 1" 113 113 86 74 71 63
(Th-.-d
Total compiled receipts.. .................... .111, W 101,867 241,951 384,242 316,177 525,375 457,092 402,036 318,166
Net ins .me ................................... 14,364 15,178 20,694 26pD95 21,677 42,107 29p925 24,680 10,264
Total tax .................................... 1,863 2,133 4,765 7,077 5,283 12,631 9,346 8,661 3,551
Income t x ............................... 1,858 2,117 4,638 6,934 5,283 12,631 9,346 8,594 2,944
Excess profits taxes ..................... 5 16 127 143 - - - 67 606
Total compiled receipts ...................... 251,653 305,112 272,270 118,656 116p245 63,466 62,531 56,471 53,612
Deficit ...................................... 13,021 13,553 6,189 3,933 4,448 2,332 2,146 1,862 1,966
MINING AND QUARRYING: BITUMINOUS COAL AND

LIGNITE MINING
With net income .............................. 462 ~3.2 7.9
~,76 912
901 11105 1,033 1,434 1,371 1,013 915
Without net income ........................... 962 891 lp037 729 466 627 629
(A--d d.11...
Return a with net income:
Total compiled receipts ...................... 1,159,895 1,530,402 1,776,265 2,129,717 2,063,095 1,578,787 2,542,354 2,216,763 1,424p4OO 1,347,600
Net income ................................... 46,940 72,593 88p263 139,464 180o363 122,803 318,597 264,751 89,553 81,412
Total tax .................................... 15,948 28,825 35,713 57,0% 69,425 43,038 113,038 90,225 29p975 35,613
Ines e tax ............................... 15,948 28,620 35,445 56,171 67,620 43,038 113,038 90,225 29,662 24,545
Excess profits taxes ..................... - 205 268 925 1,805 - - - 313 11,067
Returns without net income :
Total compiled receipts ...................... 508,000 519,420 512,123 432,482 357,722 348,511 171,980 97,748 203,446 196o776
Deficit ...................................... 31,990 31,230 l9oO69 25,769 17,237 25,480 8,971 6,093 9,016 10,119
MINING AND QUARRYING: CRUEE PETROLEUM AND

NATURAL GAS PRODUCTION
With net come .............................. 2,208 2,090 2,514 2,436 2,369 2,276 2,563 2,191 1,836 lp722
Witho ut net
i income ........................... 2,644 2,365 1,858 1,704 1,760 1,830 1,424 L~~j 1,577 1,587
(rh-...d d.11 ...
Total compiled receipts.. .................... 3,109o752 3,765,560 3,806,625 3,668,660 3,144,537 2,395,858 2,362,031 1,364,728 839,314 699,821
Net income ................................... 514,172 672,469 645p897 610,2,24 539,989 397,936 46Op2O6 263,819 1-28,010 85,887
Total tax .................................... 240,247 313,946 310,028. 281,627 202,802 131,825 157,417 90,221 43,366 31,296
Income tax ............................... 239,076 304 338 301 221 270,684 196 225 131,825 157,417 90,221 42,913 24,481
Excess profits taxes ..................... 1,171 91608
, 8:807 10,943 6:577 - - - 453 6,815
Total compiled receipts ...................... 793,560 605:253 553,591
, 356,284 355 589 335 132 204,496 209,764 208,345 224,559
Deficit ...................................... 105,094 84 344 71 48 54,951 50,064
, 60:494 40,718 46,"7 37,638 26,753
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables arid for these historical tables. 11D~scription of the Susple and Limitations of
Data-' for each of the years 1951-54 appears in the annual volume for those years.
ACTIVE CORPORATION INCOME TAX RETURNS, 194&1954 157
Table 42.-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-Continued
MINIW, AND QUARRYING: NONMETALLIC MINING

AND QUARRYING
Total number of returns of active corporations
With net ine a .............................. 1,306 1,264 1,273 1,278 1,2" 1,189 1,159 1,066 955 767
(7h ..d d~ll...)

Total compiled receipts ...................... 1,095,457 1,030,135 1,038,580 974,130 836,137 717,976 717,397 591,831 460,436 323,630
Net income ................................... 126,406 109,875 112,781 133,314 140,556 110,156 118,638 92,872 70,299 42,828
Total tax .................................... 59,388 55,293 55,152 67,867 59,245 39,202 42,311 33,030 24,548 21,607
Inwme t x ............................... 59,314 51,912 52,500 61,054 54,324 39,202 42,311 33,030 24,462 10,445
Excess profits taxes ..................... 74 3,381 2,652 6,813 4,921 - - - 86 11,162
Returns without net Income:

Deficit ...................................... 12,645 10,446 6,889 7,054 6,827 7,946 5,998 5,781 5,587 8,149
CONSTRUCTION

With net income .............................. 21,411 21,406 20,946 19,764 17,868 16,290 16,155 14,353 11,161 7,811
(Th-d d.11-)
Net income ................................... 633,538 626,313 683,685 652,506 651,035 591,250 625,246 430,150 269,994 146,070
Total tax .................................... 256,865 273,421 306,633 292,445 246,711 200,106 210,111 139,873 83,675 62,134
Income tax ............................... 256,353 252,821 280,343 263,796 228,683 200,106 210,111 139,873 82,883 28,480
Raturna without net income:

Total compiled receipts ...................... 2,815,940 2,321,430 1,802,325 1,879,701 1,598,772 1,241,459 870,132 680,976 588,065 488,965
Deficit ...................................... 145,9" 113,255 94,927 93,128 89,018 73,737 48,226 38,511 37,916 33,451
TOTAL MANUFACTURING

With net income .............................. 74,608 78,380 80,795 80,877 79,186 68,317 73,638 74,612 72,567 61,680
(Th-d dlla-)
Rat urna with net income:
Total compiled receipts ...................... 240,028,767 263,970,665 244,424,014 241,530,606 210,033,648 185,981,909
167,534,041 171,416,746 128,928,639 133,402p830
Net income ................................... 19,653,551 22,251,202 21,081,015 25,492,126 24,223,918 15,342,017 18,928,473 231 680,628 10,576,548
Total tax .................................... 9,482,559 12,160,679 11,419,132 14,163,463 10,636,866 5,497,255 6,821,585 6,319,452 4,628,015 6,112,228
Income tax ............................... 9,451,660 10,771,452 10,125,517 12,088,130 9,564,912 5,497,255 6,821,585 6,319,452 4,468,311 1,947,769
Excess profits taxes ..................... 30,899 1,389,227 1,293,615 2,075,333 1,071,954 - - - 159,704 4,164,458
Deficit ...................................... 1,363,686 829,856 762,895 630,291 502,383 1,095,151 814,485 864,264 986,664 326)331
MANUFACTURING: BEVERAGES

With net income .............................. 1,717 1,690 2,088 1,865 1,773 1,786 1,751 1,927 2,225 2,082
Without net income ........................... 1,042 1,026 1,207 1,201 1,405 1,581 1,627 1,296 639 509
(A-ld d.11...
Net income ................................... 378,867 420,430 448,155 477,685 492,332 471,046 510,994 501,375 512,381 418,168
Total tax .................................... 189,029 220,053 238,335 243,149 204,756 171,910 189,181 185,783 197,672 255,779
Income tax ............................... 188,427 208,803 222,772 231,443 195,933 171,910 189,181 185,783 179,549 73,994

Deficit ...................................... 38,542 19,351 27,050 27,824 30,219 37,912 43,043 45,129 9,741 9,323
MANUFACTURING: FOOD AND XINDRED PRODUCTS

With net income .............................. 6,553 6,969 6,867 7,095 7,158 7,056 6,931 7,300 8,058 7,081
(Th-...d d.11-)
Net income ................................... 1,301,554 lp329,4,67 1,229,982 1,247,020 1,443,626 1,181,586 1,222,361 1,479,709 1,572,586 1,010,275
Total tax .................................... 638,963 683,322 632pl43 623,485 611,149 428,965 443,412 537,898 585,572 556,289
Income tax ............................... 635,410 650,725 600,303 587,066 573,938 428,965 443,412 537,898 562,204 222,832
Excess profits taxes ..................... 3,553 32,597 31,840 36,419 37,211 - - - 23,368 333,456

Total compiled receipts ...................... 6,396,404 2,942,411 4,591,467 3,503,175 4,001,496 6,266,668 5,408,370 1,636,532 535,480 955,350
Deficit ...................................... 99,532 67,251 92,187 74,752 55,416 107,860 114,355 80,542 28,740 23,794
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables ~d for these historical tables. "Description of the Sample and Limitations of
158 ACTIVE COFWORATION INCOME TAX RETURNS, 1945-1%4
Table 42-NUMBER OF RETURNS, TOTAL COMPEURD RECEIPTS, MET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-Co.11ased
Major industrial group, selected items 1954 1953 1952 1951 1950 1949 1948 L 1!f 1946 1945
MANUFACTURING: TOBACCO MANUFACTURES
Total numb r of returns of active corporations:

With n:t income .............................. 110 136 115 127 128 114 123 129 145 178

Net income ................................... 321,699 341,142 287,366 296,701 291,635 260,259 243,782 197,701 174,666 140,851
Total t . ............ I ....................... 166,118 196,203 161,748 166,263 131,419 97,599 91,426 73,319 64,594 60,181
Income tax ............................... 166,105 173,478 146,438 147,935 120,400 IY7,599 91,426 73p319 64,530 49,317

Deficit ...................................... 2,783 717 454 899 1,326 2,048 5,078 1,717 206
L;l
MANUFACTURING: TEXTILE-MILL PRODUCTS

With net income .............................. 3,193 3,529 3,547 3,849 4,381 3,692 4,161 4,390 4,764 3,907
Without net income ........................... 2,077 2,313 1,948 2,181 1,413 2,341 1,917 1,679 778 4%
(Th...d d.11-)
Total compiled receipts ...................... 9,238o9ll 10,568,204 10,977,710 12,843,493 12,686,482 9,459p263 11,828,790 11,196,975 10,101,471 7,588,094
Net income ................................... 479,034 644,382 644,892 1,071,665 1,268,801 756,803 1,554,012 1,574,837 1,411,728 736,363
Total tax .................................... 226,331 317,928 324,466 538,815 538,295 273,575 576,468 580,116 541,012 452,764
Income tax ............................... 225,920 310,027 311,618 508o641 507 483 273o575 576,468 580,116 503oO31 123o4O9
Excess profits taxes ..................... 411 7,901 12,848 30,174 30,812
1 - - - 37,981 329,355

Total compiled receipts ...................... 2,613,753 2,099,677 2,228,146 1,582,457 490,831 1,365,451 615,101 450,038 158,458 103,310
Deficit ...................................... 164,202 129,740 122,824 82,989 28,556 87,338 46,317 41,156 9,568 7,619
MANUFACTURING: APPAREL AND PRODUCTS

MADE FROM FABRICS

With net income .............................. 7,600 8,369 8,464 7,899 8,596 7,613 8,595 9,267 9,164 6,460
Without net income ........................... 6,150 6,239 5,976 6,854 5,719 6,985 6,077 4o715 2,550 1,166
(7?...-d d.11...
Ret urna with net income:
Net income ...... t ............................ 216,217 220,442 229,826 2~4,699 328,290 239,516 349,645 477,571 499,123 245,853
Total tax .................................... 91,142 96,275 100o979 102,280 125,451 81,822 121,764 169,583 183,200 139,133
Income tax ............................... 90,911 93,538 97,682 98,302 119,249 81,822 121,764 169,583 172,767 41,710
Rat urna without net income:

Total compiled receipts ...................... 1,828,235 1,745,571 1,708,864 1,938,849 1,109,838 1,672,347 1,309,971 652,050 364,347 1.16,185
Deficit ...................................... 71,064 68,733 64,301 76,813 49,543 88,142 71,740 38,441 17,164 4,157
MANUFACTURING: LUMBER AND WOOD PRODUCTS,

EXCEPT FURNITURE

With net income .............................. 3,066 2,937 3,258 3,4% 3,627 2,828 3,245 3,093 2,714 2,002
Without net income ........................... 1,580 1,773 1,615 1,579 1,093 1,883 1,490 1,119 825 941

Total compiled receipts ...................... 4,444,656 4,323,306 4,603,280 4,766,318 4,859,548 3,115,233 3,830,490 3p372,784 2,299,083 1,586,807
Net income ................................... 347,730 323,469 386,204 531,548 647,190 302,675 540,537 544,140 307,609 140,846
Total tax .................................... 131,093 125,119 152,894 222,677 257,564 100,056 186,789 191,734 105,310 61,577
Income tax ............................... 130,936 122,637 148,438 210,751 235,564 100,056 186,789 191,734 102,779 33,941

Total compiled receipts. ..................... 510,758 672,267 615,483 518,215 181,706 583,587 342oO94 170,052 115,232 180,794
Deficit ...................................... 31,153 34,557 35,234 26,856 14,040 46,586 24,886 16,232 11,803 9,541
MANUFACTURING: FURNITURE AND FIXTURES

With net income .............................. 3,168 3,418 3,771 3,671 3,803 3,118 3,358 3,545 3,446 2,695
Without net income.. ......................... 2,468 2,221 2,023 1,824 1,720 2,278 2,099 1,856 1,180 700
(Th-d d. I I...
Total compiled receipts ...................... 3,193,202 3,322,903 3,460 625 3,373,255 3,176 925 2,182,450 2,477,280 2,703,412 2,178,106 1,528o231
Net income ................................... 201,187 206,179 239,471
1 262,297 280,926
1 170,037 222,281 261,470 218,611 .116,363
Total tax .................................... 93,516 102,027 123,389 135,615 118,537 60,020 79,602 93,275 78,279 61,152
Income tax ............................... 93,335 95,309 lllplS2 1-19,614 107,124 60,020 79,602 93,275 76,053 24,726
Excess profits taxes ..................... 181 6,718 12,207 16,001 11o413 - - - 2,226 36,426

Total compiled receipts ...................... 665,283 525,522 458,1
, 383,117 257,414 444,141 368,845 245,195 183,851 107,081
Deficit ...................................... 41,156 29,819 24 770 22,670 16,850 31,277 26,654 21,863 14,518 6,184
NOTE: For explanatory statements and comparability of data~ see the texts for the 1954 tables and for these historical tables. "Description of the Sample and Limitations of
Major industrial group, selected item 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
MANUFACTURING: PAPER AND ALLIED PRODUCTS

With net in ome .............................. 2,004 2,074 2,025 2,271 2,148 1,698 1,898 2pOS7 2pO99 I'm
(Th-d d.11-)
Tot. 1 compiled receipts ...................... 8,126,438 8,125,461 7,523,728 8p269,421 6,883,425 5pO02p33O 5,737,079 5,617,782 4,314,669 3,510,239
Net incom, ................................... 916,440 957,030 967,088 1,344,338 IpO14,336 583,745 798,787 928,005 576,522 345,350
Total tax .................................... 453,100 515,832 534,073 800,360 452,144 214p666 295,838 343,388 213,122 197,707
Income tax ............................... 452,516 474,179 480,242 657,400 411,101 214,666 295,838 343,388 207,684 69,5%
Ret urc a without net income;

Total compiled receipts ...................... 452,753 259,426 347o653 160,819 84o865 465,226 268,652 95,642 66p401 74,019
Deficit ...................................... 24,259 18,749 20,969 10,837 6,940 28,307 14,789 6p582 6,636 3,073
MANUFACTURTNG~ PRINTING, PUBLISHING,

AND ALLIED INDUSTRIES

With net income .............................. 9,454 9,427 9,672 9,127 SP939 8,547 8,978 8,789 8,518 8,021
Without net income ........................... 41704 4,175 3,783 4,168 4,031 4,239 3,519 3,120 2,478 2,036
(Th...d d.11-)
Total compiled receipts ...................... 7,607,786 7,84loO05 7,251,273 6,939,919 6,217p762 5,838,843 5,795,347 5,317,103 4,593,908 3,744,226
Net income ................................... 630,330 663,023 647,899 654,993 629,486 557,700 616pl98 665,430 677,279 590,971
Total tax .................................... 289,592 337,296 324,523 321,980 248,170 194,540 215,974 232,870 239,*878 352plOO
t x ............................... 288,775 309,767 299,551 295,021 235,436 194,540 215,974 232,870 236,163 97,830
Income profits taxes .....................
Excess 817 27p529 24,972 26,959 - - -
12,734 3,715 254,271
Total compiled receipts ...................... 1,259,683 716p987 722 531 534,392 596,157 595,156 484,388 415,738 253,169 101,050
Deficit ...................................... 59,107 37,301 33,808
1A 44p757 41,056 38,385 35,842 20,767 6p825
MANUFACTURING: CHEMICALS AND ALLIED PRODUCTS

With net income .............................. 4,588 4,669 4,655 4p932 4,647 4,273 4,323 4,577 4,608 4,414
Without net income ........................... 2,768 3,034 2,973 2,735 2,540 3p24O 3,088 2,948 2,229 1,772
(Th-d d.11...
Total compiled receipts ...................... 17p976,928 17,917,808 17,451,511 17,699,542 16,217,543 12,491,858 1-3,696,104 13,224,389 10,558,939 9,359,557
Net incom, ....... ............................ 2,289,153 2,386,653 2,297,826 2,953pl69 2,793,959 1,715,658 1,728,534 lp832,298 1,524,699 1,059,701
Total tax .................................... 1,105,108 1,329,111 1,276,566 1,720,532 1,258,809 606,108 609,526 653,199 549,315 563,268
Income tax ............................... 1,103,970 1,163,050 1,117,635 1,412,072 1,108p061 606,108 609,526 653,199 538,262 225,502
Exces's profits taxes.. ................... 1,138 166,061 158,931 308,460 150,748 - - - 11,053 337,766
Returna without net income:

Total compiled receipts ...................... 1,123,605 927,664 616,639 704,064 250,070 943,313 558,489 370,891 270,887 55Op655
Deficit ...................................... 63,860 56,896 55,594 32,701 21,990 61,134 46,566 41,016 27,311 28,736
MANUFACTURING: PETROLEUM AND COAL PRODUCTS

With net income .............................. 432 447 476 524 516 428 453 407 346
Without net income ........................... 283 173 221 166 146 238 181 147 139
(A ...d d.11 ...

Total compiled receipts ...................... 27,674,777 26,318p954 24,492,556 24,278,326 19,973,951 17,523,579 19,738,277 14,%8,960 10,630,769 9,617,216
Net incom ................................... 1,662,847 1,914,038 lp768,903 2,327,353 1,826,031 -1,169p222 2,000,180 1,309,630 742,103 370,575
Total tax .................................... 656,380 742,995 661,833 1,019,472 616,713 344,484 660,044 421,901 230,669 108,896
Income tax ............................... 656,250 735,127 650,285 ~03,308
957,732 344,484 660,044 421,901 230,216 98p260
Excess profits taxes ..................... 130 7,868 11,548 - - -
61,740 13,405 453 10,636
Returns without net incom:
Total compiled receipts ...................... 797,486 407,701 483,694 178p651 126,226 663,574 228,900 111,4% 189,072 767,502
Deficit ...................................... 27,563 7,600 8,329_ 2,954 4,427 30,929 17,142 6,463 7,070 19P193
MANUFACTURING: RUBBER PRODUCTS

With net incom, .............................. 544 568 523 567 535 427 431 388 400 361
Without net incoe ........................... 249 256 211 150 131 221 220 247 161 92
ff~--d d.11...
Total compiled receipts ...................... 4,459,202 4,922,761 4,818,770 4,907pO36 4,033,219 2,873,770 3,307,856 3,369,994 3,084,209 3,299,988
Net income ................................... 311,606 411,784 387,998 551,711 436,897 164p597 262,315 240,979 321,391 248,125
Total tax..' 154,693 227,744 219p817 329,094 196,524 58,396 92,297 84,457 122,017 169,987
In.om tax ...............................
.... 154,537 204,945 191,458 268,667 174,393 58,396 92,297 84,457 114,151 30,291
Excess profits taxes ..................... 156 22,799 28,359 60,427 22,131 - - - 7,866 1-39,696
Returns without net incom :

Deficit ...................................... 11,912 5,291 5,696 2,287 2,140 11,871 7,345 7,667 3,394 1,773
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. "Description of the Sample and Limitations of
ToWe 42-NUMBER OF RETURNS, TOTAL COMPILED RZCZIM NET INCOME OR_DZFICIT, AND TAXES, BY MUOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-Coatissed
Major industrial grDup~ selected items 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
MANUFACTURING: ILATHER AND PRODUCTS

With net income .............................. 1,621 1,671 1,908 1,710 1,836 1,620 1,734 1,984 2,195 1,769
Without net income ........................... 889 1,227 1,013 1,130 9" 1,297 1,271 1,108 630 290
(Th-d d.1 I...
Total compiled receipts ...................... 2,629,113 2,754,279 2,954,884 2,900,015 2,851,780 2,42OpO65 2,734p855 3pOD8,591 2,730,553 2,142,515
Net income ................................... 129,672 126p241 134,440 141,038 170p029 114,010 158p434 232,435 235p940 137oO64
Total tax .................................... 60,733 62p994 65,961 70p133 68,538 40,658 57,"8 84,705 89,355 77,374
Income tax ............................... 6Op4ll 58,753 61,879 64,860 65,004 40,658 57,448 84,705 83,243 28,371
Excess profits taxes ..................... 322 4,241 4,082 5,273 3,534 - - 6,112 49,003
Total compiled receipts. ..................... "6,069 494,547 379p815 571,050 344,974 502,253 426,264 278,958 103,599 48p87O
Deficit ...................................... 17,610 18,261 15,534 32,411 12p491 26,297 26,397 18,"2 6,641 1,559
MANUFACTURING: STONE, CLAY, AND GLASS

PRODUCTS
With net income .............................. 2,844 2,944 2,998 3p132 3pO99 2,7 2,851 2p769 2,641 lo952
Without net income ........................... lp440 1,324 lp221 1,224 1,149 1,342 lp362 986 818
(Th-d d.11...
Total compiled receipts ...................... 6,311,786 6,249p "3 5,328,165 5,583,388 4,9",036 3,758,426 3,982,753 3,52.2,149 2,939p855 2,20lt944
Net income ................................... 818,585 785,182 669,465 843,393 860p626 520,957 549,486 465,914 373,149 224,032
Total tax .................................... 405p873 "3, 773 374p283 490,099 394,168 190p574 202p687 169,926 135,505 119p577
Income ta ............................... 405,455 392pO77 330,369 409,437 347,253 190p574 202,687 169,926 133,723 52p857
Excess profits taxes ..................... 418 51,696 43,914 8Op662 46,915 - - - 1,782 66,721
Total compiled receipts ...................... 338,765 276,354 300,048 191,305 123,968 232,166 157,056 129,872 llOp399 141,887
Deficit. ..................................... 25,707 17,475 19,579 11,971 10'"l 18,419 18,977 15,123 9,553 3-2,938
MANUFACTURING: PRDIARY METAL INDUSTRIES AND

FABRICATED METAL PRODUCTS (EXCEPT ORDNANCE,
MACHINERY, AND TRANSPORTATION EQUIPMENT)
With net income .............................. 9p636 10,057 lOp7ll 10,791 9,858 7,571 8,489 8,320 7,283 6,133
Without net income ........................... 5,380 3,735 3,091 2pg7l 2p998 5,030 3,904 3,532 2p734 1,867
(Th--d d.11...
Ret~ with net income:
Total compiled receipts ...................... 30;933oO65 36,167p622 32,150,893 35,027,680 29,333p265 21,376,029 25p755,178 22,341,959 15,857,203 17,020,798
Net income ...... ; ............................ 2,588,590 3,339,742 21801,598 4,386,861 3,688,378 2,108,376 2p8l6,463 2,354,055 1,381,820 1,165,097
Total tax.. .................................. 1,282,911 1,866,123 1,526p225 2,6OOp531 1,688,940 777,097 1,035,335 863,265 506,186 666,254
Income t x ............................... 1,279,700 1, 677 p 144 1,376,035 2,139,475 1,499,573 777,097 1,035,335 863,265 498,457 222,577
Excess profits taxes ..................... 3,211 188,979 l5Opl9O 461,056 189,367 - - - 7,729 "3,676
Total compiled receipts ...................... 2,703,431 1,541,454 1,042,909 556,661 470,014 1,923,640 724,332 7G2,643 1,177p476 lp347,545
Deficit ...................................... 182,256 74,238 68,469 34p795 56,822 136,789 63,604 35,575 100,018 5lpO4O
MANUFACTURING: MACHINERY, EXCEPT TRANSPORTATION

EQUIPMENT AND ELECTRICAL
With net income .............................. 7,025 8,157 8,231 8,359 7,129 5,607 6,362 5,893 4,969 4,536
Without net income ........................... 4,691 3,453 2,679 2,354 2p786 4,252 3,296 2,850 2,542 1,656
(Ih--d d.11...
Total compiled receipts ...................... 19,532,019 22,339p320 21~854p755 20,213,049 15,359,360 12,516,574 14,472p780 12,406,988 7,797,663 9,297,767
Net income ................................... 1,882,667 2,214,132 2,462,771 2,6%,837 2,087,800 1,434pl96 1,800,259 1,564,177 890,451 966,618
Total tax .................................... 938,722 1,268,526 1,439,627 1,567,727 919,873 531,508 668,698 577,520 330,937 599,375
Income tax ............................... 934,066 1,100,809 1,228,927 lp309,294 840,607 531,508 668,698 577p520 32lpO55 158,430
Excess profits taxes ..................... 4,656 167,717 210,700 258p433 79,266 - - - 9,882 440,945
Total compiled receipts ...................... 1,936,764 1,259,297 463,755 483,045 507,024 1,119,427 591,588 76Op594 1,351,692 583,081
Deficit ...................................... 125,793 70,330 41,595 37,422 ",071 %,685 58,795 83t249 169,872 38,384
MANUFACTURING: ELECTRICAL MACHINERY

AND EQUIPMENT
With net income 2,439 2,398 2,461 2,373 2,169 1,656 1,645 1,716 1,508 1,345
Without net income ........................... 1,498 1,069 1,178 1,041 958 1,411 1,364 1,274 1,041 526
(Th-s.,d d~I I ...
Total compiled receipts ...................... 13,559,706 16,442,377 14,648,641 12,007,404 10,407,747 7p689pS44 8,362,169 7,690,761 3,866,041 6,678,548
Net income ................................... 1, 199, 092 1,607,139 lp6O6,314 1,535,493 1,438,210 744,086 923,936 837,71Y7 317,970 619,199
Total tax .................................... 599,223 957,503 970,678 921,761 660,212 270,251 339,091 307,912 116,900 395,338
Income tax ............................... 595,937 808,238 805,71.2 749,699 576p273 270,251 339,091 307,912 114,434 90,272
Excess profits taxes ..................... 3,286 149,265 164p966 172,062 83p939 - - - 2,466 305,065
R~turns without net income :

Total compiled receipts ...................... 884,405 464,532 326,192 364,744 205,398 515pO53 450,781 542,654 1,650,937 "5,"l
D~.ficit ...................................... 61,130 32,849 28,194 33,632 21,292 47,518 47,804 56,435 I4Opl27 24,938
NOTE : For explanatory statements and comparability of data, a" the texts for the 1954 tables and for these historical tables. "Description of the Sample and Limitations of
MANUFACTURING: TRANSPORTATION EQUIFNENT,

EXCEPT MOTOR VEHICLES
Total number of returns of active corporations;
With net income .............................. 677 733 870 760 569 526 563 552 507 739
(Th-d d.11.,.)
Total compiled receipts ...................... 10,856)317 11,611,552 9,230,493 5,841,433 3,845,479 3,368,648 3,345,171 2,236,531 1,864,928 16,734,426
Net income ................................... 845,849 805,416 627,407 454,423 386,451 231,747 270,965 176,254 174,774 1,051,356
Total tax .................................... 431,749 507,312 381,006 251,157 162,240 83,873 96,628 63,850 62,363 650,499
Income tax ............................... 422,808 400,434 313,455 215,802 149,114 83,873 96,628 63,850 59,521 161,874
Total compiled receipts ...................... 335,341 403,653 344)914 165,869 214,011 485,946 441)310 791,269 1,034,459 501,662
Deficit ...................................... 16,922 23,249 33,687 19,009 16,411 37,018 38,532 178,032 187,663 34,766
MANUFACTURING: MOTOR VEHICLES AND EQUIPMENT,

EXCEPT ELECTRICAL
With net income .............................. 688 783 902 932 882 693 867 820 650 501
(Th-.-d d.11-)
Total compiled receipts ...................... 16,753,399 23,942,472 19,372,613 19,195,325 18,350,482 14,406,603 1-3,533,798 11,214,901 4,621,558 1,955,981
Net income ................................... 2,321,402 2,727,315 2,441,986 2,578,235 3,319,924 2,112,098 1,708,263 1,256,840 210,438 194,623
Total tax .................................... 1,177,537 1,702,718 1,468,197 1,541,630 1,624,712 790,077 628,472 462,649 73,583 123,077
Income tax ............................... 1,176,571 1,393,963 1,246,725 1,280,316 1,373,182 790,077 628,472 462,649 72,706 22,232
Rat urn a without net income:
Total compiled receipts ...................... 3,711,957 1,047,725 587,278 451,173 283,007 540,"9 214,470 255,672 1,959,569 1,133,334
Deficit ...................................... 205,321 50,673 16,164 22,777 24,090 73,500 25,186 14,867 94,112 14,470
MANUFACTURING: ORDNANCE AND ACCESSORIES

With net income ............................... 45 65 41 50 37 23 26 32 28 227
Returna with net income:

Total compiled receipts ...................... 454,267 644,553 437,287 304,716 261,556 180,401 219,769 2G4,562 143,312 3,415,467
Net income ...... t ............................ 47,161 71,683 55,305 52,846 45,239 14,962 33,100 27,137 17,003 342,585
Total tax .................................... 22,136 45,015 33,360 33,140 21,086 5,420 12,427 10,188 6,298 229,612
Income tax ............................... 22,043 35,973 27,466 26,353 18,303 5,420 12,427 10,188 6,183 38,267
Total compiled receipts ...................... 15,265 19,033 16,117 3,122 889 1,713 17,950 11,814 47,002 204,493
Deficit ...................................... 5,931 1,755 541 906 263 504 1,927 2,865 7,231 5,722
MANUFACTURING: SCIENTIFIC INSTRUMENTS;

PHOTOGRAPHIC EQUIPMENT; WATCHES,
CLDCYS; AND OTHER
With net income .............................. 7,204 7,339 9_
7,222
'L 7,347 7,156 6,291 6,854 6,637 6,299 5,118
Without net income ........................... 5,495 IL2L41 4 4,620 4,452 6,013 5,683 5,305 3,728 2,071
(A-...d d.11...
Total compiled receipts ...................... 8,6OOp4O9 9,236,669 8,391,809 8,064,981 6,961,981 5,403,832 6,061,379 5,655,473 4o972,777 4,859,467
Net income ................................... 763,869 756o314 746,119 849,821 773,762 488,741 617,941 588,477 540,385 462,531
Total tax ..................................... 368,610 412,810 409,029 463,563 337,566 175,656 218,478 211,914 196,258 272,289
Income tax ............................... 367,577 362,476 357,345 398,250 303,613 175,656 218,478 211,914 191,600 81,490
Total compiled receipts ...................... 1,306,774 S",287 790,396 615,694 449,925 966,948 789,299 693,954 686,078 290,209
Deficit ...................................... 87,883 65,021 47,465 42,080 40,725 84,683 79,993 93,665 113oO18 22,088
TOTAL PUBLIC UTILITIES

Total number or returns of active corporations:
With net income .................... 17,436 18,688 18,082 17,189 16,452 14,810 15,304 14,857 14,395 12,966
Without net income ................. 11,686 11,249 10,378 9,639 9,825 11,098 9,921 1 8,872 -7 QS 6.770
(Th--d d.11...
Total compiled receipts ...................... 37,010,426 37,791,542 36p459,420 34,516,766 30,360,679 26,199,477 27,482,955 23,054,434 17,574,664 19,672,756
Net income ................................... 4,709,853 5,191,336 5,03~,841 4,785,134 4,446,153 3,024,043 3,594,232 3,013,672 2,726,169 3,133,895
Total tax .................................... 2,309,201 2,550,139 2,479,760 2,305,533 1,763,748 1,056,198 1,204,804 1,013,277 698,063 1,547,605
Income tax ............................... 2,308,655 2,520,974 2,439,108 2,250,154 1,727,836 1,056ol98 1,204,804 1,013,277 895,607 719,644
Excess profits taxes ..................... 546 29,165 40,652 55,379 35,912 - - - 2p456 827,962
Deficit ...................................... 269,528 154,220 122,432 99,193 114,143 150,282 146,212 1 297,565 383,487 196.818
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. "D~cription of the Sample and Limitations of
Data- for each of the years 1951-54 appearsin the annual volume for those years.
162 ACTIVE COPMRATION INCOME TAX RETURNS, 194&1954
TOM* 42.-NUMBER Or RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL aROUP AND BY INCOME AND DEFICIT STATUS-Co~dued
PUBLIC UTILITIES: TRANSPORTATION

With net inco me .............................. 1-2,590 13,392 1-3,124 12,237 11,621 10,274 10,995 10,673 10,027 8,610
Without net income ........................... 8,866 8,185 7,730 7,117 7,270 8,306 7,060 6p2O7 5,115 4,583
(Th-.-d d.11...
Total compiled receipts ...................... 17,020,174 21,026,021 21,058,766 20,555,406 18,047p239 15p7l4p956 17,105,238 14,599p521 9,416,514 11,984,273
Met income ................................... 1,233,657 1,M,291 2,030,065 2,091,739 2pl69p928 1,2%,100 1,846p225 lp"5,721 967,153 1,459,866
Total tax ..................................... 558p692 889,402 987,154 lp005,941 862,261 "7,853 649,661 509,281 333,705 799,426
Income tax ............................... 558,552 872,246 959,952 %3p741 835,834 447,853 649,661 509,281 332,291 320pO58
Excess profits taxes ..................... 140 17pl56 27,202 42,200 26,427 - - - 1,414 479,368

Total compiled receipts ...................... 5,058,962 2,787,773 1,997,077 ip550,834 lp471,385 2pO92,880 1,946p229 2,802,877 4,961,039 2,621,876
Deficit ...................................... 228p755 129p6.31 110,371 83p467 98p873 125p981 126,596 256p3O8 357,498 147,324
PUBLIC UTILITIES: COMMUNICATION

With net income .............................. 2p7l.3 2p964 2,901 2,752 2,655 2,413 2,265 2,118 2,235 2,260
Without net income ........................... lp720 1,836 1,498 1,498 1,572 1,768 1,819 1,834 1,526 1,334
(Th-...d d.11.,.)
Total compiled receipts ...................... 8,426,150 6,256,352 5,720,214 5pl33p9l? 4p542p5O9 3,424,906 3,776,284 2p734,834 2,92Op553 2p719,948
Net income ................................... 1,340p164 1,203,838 999,961 898,921 740,037 372,006 539pOO6 429,517 575,766 703p925
Total tax .................................... 676,750 586p996 482,550 423,335 282,773 136p452 135,611 111,066 156,450 315,776
Income tax ............................... 676,414 581p132 478,510 419,728 280,818 136,452 135,611 111,066 155,851 131,917
Excess profits taxes ..................... 336 5,864 4,040 3p6O7 IP955 - - - 599 183,860

Total compiled receipts ...................... 134p660 97o661 60,206 74pO65 62,254 327,078 107,629 625p522 239p322 224,457
Deficit ...................................... 27,409 14,713 4,669 8p348 8,018 17p334 12p472 18,958 15,682 l4p812
PUBLIC UTILITIES: ELECTRIC AND GAS UTILITIES

With net income .............................. 948 1POOO 779 966 1,000 968 %9 985 995 998
(Th-.-d d.11 ...

Total compiled receipts ...................... 11,319p574 10,274,173 9p454,933 8p6O4oO59 7p583,716 6,897,649 6,436,644 5,587,267 5,122o601 4,850,911
Net income ...... * ............................ 2,087,228 2pO69p7l6 1,961,278 lp749,717 1,503,114 1,324,234 1,177p2O2 1,110,079 1,157,471 946p526
Total tax .................................... 1,052,310 1?052,634 991p720 858,586 607,550 461,774 409,692 383p484 399,341 422,978
Income tax ............................... 1,052,255 lpG46p639 982,516 849,168 600,102 461p774 409,692 383,484 398,920 260,294
Excess profits taxes ..................... 55 5,995 9p2O4 9,418 7,448 - - - 421 162,683

Deficit ...................................... 10,409 7,154 4,413 5,085 5p201 4,070 5,486 20,139 6,798 32,757
OTHER PUBLIC UTILITIES

With net income .............................. 1,185 1,332 1,278 lp234 lpl76 lp155 1,075 1,081 lpl3S 1,098

Total compiled receipts ...................... 244p528 234,996 225,507 223,384 187,215 161p966 164,789 132,812 114p996 117,623
Net income ................................... 48?804 47p491 41,537 "p757 33pO74 31p703 31,799 28p355 25,779 23,577
Total tax.. .................................. 21p449 21,107 18p336 17o671 11,164 10,119 9pS4O 9,446 8,567 9,425
Income tax ............................... 21,434 20p957 18,130 17,517 11,082 10,119 9p840 9,446 8p545 7p374
Excess profits taxes ..................... 15 150 206 154 82 - - - 22 2,051

Deficit ...................................... 2,955 2,722 2,979 2p293 2,051 2,897 1,658 2pl6O 3,509 1,925
TOTAL TRALE

With net income .............................. 143p432 143,602 148,365 150,670 148,655 129,320 138,304 133,192 122,132 77, M
Without net income ........................... 95,091 84,758 72,949 65,639 60,684 74,705 58p444 44,105 29,379 23p398
(Th ..d d.H.,.)

Total compiled receipts ...................... 147,772,449 147,516p638 150p826,391 152,849,291 145?42,4,883 116,457,145 126,237,227 115,730,631 92,867,195 64pO16,723
Net income ................................... 4,356,658 4,524,569 4,858,728 5,919,667 6p6l9,727 4o387p4O6 6,128,574 6,368,344 5o7l4o298 3,439,123
Total tax .................................... 1,892p842 2,068,465 2p255,861 2,775,747 2p618,569 1,492,595 2,127,938 2,221,121 2,028,250 1,902,014
Income tax ............................... 1,89Op522 1,984,308 2pl"p545 2,577,553 2,430,707 lp492,595 2,127,938 2,221pl2l 1,946,115 628,993
Excess profits taxes ..................... 2,320 94,157 109,316 198,194 187,862 - - 82p135 1,273,021

Total compiled receipts ...................... 25p53Op723 22,482,505 17,830,729 15,416,451 9,677,861 15p834pl24 11,268,073 7,601,462 3p866,349 2,623,717
Deficit ...................................... 708p8% 591,929 439p9O7 426p233 305pO19 547,048 370,213 287,417 132,262 76,211
Data-, for each of the years 1951-54 appears in the annual volume for those years.
Table 42.-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME Oft DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-Continuod
Major industrial group) selected item 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
TRADE: TOTAL WHOLESALE

With net income .............................. 50,788 49,591 50,178 52,209 51,054 42,346 44,144 41,380 38,416 28,838
Without net income ........................... 26,276 24,510 21,948 19,383 17,803 25,581 20,696 14,659. 9,241 6,843
(rhw-d doll-)
Net income ................................... 1,793,448 1,898,780 2,076,600 2,882,902 2,919,023 1,694,825 2,415,560 2,638,023 2,329,733 1,249,108
Total tax .................................... 759,448 855,033 956,908 1,392,825 1,163,956 575,979 M,185 927,875 843,439 675,842
Income tax ............................... 758,290 816,863 908,240 1,266,004 1,073,904 575,979 840,185 927,875 791,494 232,796
Returns without net ineme:
Deficit ...................................... 263,018 230,924 178,786 190,557 119,187 257,442 186,272 147,433 61,175 33,274
TRADE: WHOLESALE: CO&WSSION MERCHANTS

With net income .............................. 6,617 5,978 6,103 6,298 6,396 5,441 5,779 5,412 4,862 3,861
Without net income ........................... 4,114 3,962 3,481 2,872 3,192 4,262 3,504 2o751 1,938 1,457
(Th-...d d.11-)
Total compiled receipts.. .................... 3,452,488 3,234,380 3,878,704 4,062,132 3,747oG6O 2,988,920 3,402,461 3,193,018 2,274,809 1,598,788
Net incom, ................................... 118,142 125,666 149,769 200,582 197,007 140,744 175,272 194,251 156,178 95,542
Total tax. ................................... 43,908 50,255 62,725 86,859 71,778 44,112 56,600 64,015 52,742 46,722
Income tax ............................... 43,828 47,913 59,411 79,482 66,352 44,112 56,600 64,015 49,906 17,641
Raturn a without net income:
Deficit ...................................... 24,821 24,940 17,704 14,497 14,564 24,741 20,057 14,313 7oOO4 4,247
OTHER WHOLESALERS
Total number of retu~ns of active corporations:
With net income .............................. 44,171 43,613 44,075 45,911 44,658 36,905 38,365 35,968 33,554 24,977
Without net income ........................... 22oI62 20,548 18,467 16,511 14,611 21,319 17,192 11,908 7,303 5,386
(A-d
Total compiled receipts ...................... 68,272,519 67~622~234 71,501,992 75,188,756 69,872,477 52,770,432 57,958,275 53o3O6,538 43,233,722 29,412,392
Net income ...... ............................ 1,675,306 1,773,114 1,926,831 2,682,320 2,722,016 1,554,081 2,240,288 2,443,772 2,173,555 1,153,566
Total tax .................................... 715o540 804,778 894,183 1,305,966 1,092,178 531,867 783,585 863,860 790,697 629,120
Income tax ............................... 714,462 768,950 948,829 1,186,522 1,007,552 531,867 783,585 863,860 741,588 215,155
Raturna without net inco.e:
Deficit ...................................... 238,197 161,082 176,060 104,623 232,701 166,215 133,120 54,171 29,026
TRADE: TOTAL RETAIL

With net income .............................. 80,003 82,160 86,194 87,593 67,343 75,632 79,067 75,157 68,343 57,682
Without net income ........................... 59,950 52,471 45,260 41,635 38,155 43ol6O 31,748 23,879 16,415 1 13.527
(fh-...d d.11...
Net income ................................... 2,329,795 2,389,283 2,555,472 2,770,945 3,392,545 2,449,197 3,246,640 3,182,265 2,905,584 1,922,222
Total tax .................................... 1,040,519 1,116,920 1,203,314 1,269,493 1,340,220 838,773 1,132,177 1,109,272 1,023,157 1,099,706
Income tax ............................... 1,039,508 1,074,417 1,147,981 1,205,317 1,249,728 838,773 1,132,177 1,109,272 996,380 334,669
Excess profits taxes ..................... 1,011 42,503 55,333 64,176 90,492 - - - 26o777 765,037
Deficit ...................................... 395,041 316,330 231,946 205,332 _ 162,977 247,296 149,241 106,551 56,343 33,338
TRADE: RETAIL: FOOD

With net income .............................. 6,287 6,166 6,338 5o553 5,449 5,257 5,006 4,522 4,813 4,199
Without net incom, ........................... 4,310 3,809 3,937 4,054 3,744 3,808 3,604 2,848 1,646 1,353
(Th .. d d.11 ...
Net inco-, ................................... 425,858 394,009 343o324 299,322 336,996 312,969 271,382 269,267 275o960 161,626
Total tax .................................... 205,540 202,521 175,022 147,992 142,940 113,290 97,900 97,556 99,962 88,444
Income tax ............................... 205,188 190,853 165,323 142,488 133,273 113,290 97,900 97,556 99,049 35,063
Total compiled receipts ...................... 985,648 778,675 1,030,511 1,047,738 675,913 666,244 692,206 490,792 194,167 162,760
Deficit ...................................... 22,382 17,309 19,976 21,918 14,962 16,555 1 16,562 11,933 4,083 2,764
NOTE: For explanatory statemnts and comparability of data, see the texts for the 1954 tables and for these historical tables. "Description of the Sample and Limitations of
Data" for each of the years 1951-54 appears in the annual volum for those years.
TaM* 42.-NUMBER Or RETURNS, TOTAL COMPILED RECEIPTS, NET INOOME OR DRF1aT, AND TAXES, BY MAJOR DrDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS--C.&izad
TRADE: RETAIL; GENERAL MERCHANDISE

net 4,833 5,208 4,915 5,550 5,662 5 093 5,291 5,318 5,051 4,686
with
without net
income
income
~ .............................
........................... 2,712 2,738 2,207 2,003 1,%9 21,369 1,561 1,236 843 641
(Th-.-d d.11.,.)
Total compiled receipts ...................... 16,277,192 16,716,988 16,485,930 15,956,312 15p723,590 14,lllp4li 14,934p673 13,765,7% 12,538,956 9,708,976
Met income ................................... 975,099 991,815 1,039,940 1,033,581 1,249p336 880,480 1,131,%0 1,085,585 1,164,066 958,460
Total tax .................................... 484,793 517,356 551,436 539,005 551,8w 325,0% 419,563 401,682 434,672 619,143
Income tax ............................... 484,663 497,203 521,354 506,401 509,317 325pO96 419,563 401,682 426p590 141,650
&case profits taxes ..................... 130 20t153 30,082 32,604 42p491 - - - 8,082 477,492
Total compiled receipts ...................... %3,017 579p888 493p393 546,1" 273,325 632,940 265,391 326,668 87,843 120,873
Deficit ...................................... 28,116 23,963 15,203 19,434 llp585 21,356 9,043 10,413 4p771 2,558
TRADE: RETAIL: APPAREL AND ACCESSORIES

With net income .............................. 11,133 lipolo 11, "3 11,4" 11,094 9,743 10,947 10,446 10,043 9,072
(Th-.-d d.11.,.)
Total compiled receipts ...................... 4,559,379 4,844,426 5,005,513 4,694,761 4,670,031 4,371,404 5,007,662 4,773,003 4p465p884 3,428,077
Net income ................................... 159,420 167,478 180,741 185,556 214,075 172,951 261,267 291,1% 354,671 273,824
Total tax .................................... 62,512 67,984 73,745 73,750 73,197 54,253 85,276 %,669 124,519 156,678
Income tax ............................... 62,472 66,902 72,059 71p769 71,460 54,253 85,276 %,669 115,849 42,330
Excess profits taxes ..................... 40 1,182 1,686 11981 lp737 - - - 8,670 114,349
Returns without net income -
Total compiled receipts ...................... 1,158,426 952,077 829,503 846p681 620,552 904,260 445,509 328p350 210,392 67,370
Deficit ...................................... 45p999 32,993 31,929 29,303 26,482 41,469 21p888 15,127 8,654 2,594
TRADE: RETAIL: FURN17URE AND HOUSEFURNISHINGS

With net income ...................... 7,495 7,713 7,603 8,011 8,338 6,497 6, 647 6pl45 5,376 3,926
Without net income ................... 5,691 5,063 4,080 3p875 3,151 3,766 2,518 l,"3 1,022 926
(Th-.-d ~1 I ...
Returns with net income-
Total compiled receipts ...................... 2,4%,502 2,585,886 2,539,891 2,587,537 2p8O6,230 2,017,865 2,087,874 1;998,609 1,5%,226 886,890
Net Income ...... ; ............................ 89,839 95,015 100,457 120p059 154,471 97pO65 125,533 147,715 153,983 77,920
Total tax .................................... 32,516 35,OD4 45p429 46,055 51,163 29,462 39,103 47,336 51,365 35,353
Income tax ............................... 32,486 34,545 460 ", 748 49t3O7 29p462 39,105 47,336 50,146 18,710
Excess profits taxes ..................... 30 459 %9 1,307 1,856 - - - 1,219 16,642
Total compiled receipts ...................... 845,479 837,434 667,599 513,042 338,385 515,099 289,185 181,330 60,018 43, 10`7
Deficit ...................................... 40,893 41p521 31,215 23,777 16,027 24,015 13,056 7,257 3,057 2,227
TRADE: RETAIL: AUTCMOTrVE CRATERS AND

F111ING STATIONS
With net income .............................. 13,149 14,593 17,277 18,803 19,778 16,756 18,136 15,634 11,873 7,387
Without net income ........................... 12,069 10,074 6,516 5p266 4,000 6,103 3,294 2,085 I,W 2,181

Total compiled receipts ...................... 13~983pOO5 15,044,637 14,841,358 15,999p287 17,121,481 12p7G4,437 12,017,520 9,031,593 4,688,231 1,537,349
Net income ................................... 249,408 332,560 424,122 604,818 872,763 586p696 937,847 837,440 422,639 86,171
Total tax .................................... 97,225 137,085 175,336 254,658 332,359 198,549 330p272 294,834 143,232 35,049
Income tax .... 97,164 134,689 170p806 2",723 307,639 198,549 330,272 294p834 141,089 19,761
Excess profits *~_.** .....................
... ** ...... --- 61 2,3% 4,530 9,935 24,720 - - - 2,143 15,287
Total compiled receipts ...................... 5,679,978 4,712,0% 2,104,638 1,525,791 644,378 1,552,830 506,955 189,059 1.22,237 136,055
Deficit ...................................... 134,371 98,912 38p922 29,640 18,658 50,791 15,265 6,770 5,391 5,050
TRADE: RETAIL: DRLTG STORES

With net income .............................. 3,975 3,989 4,368 3,970 3,733 3,536 3,521 3,551 3,452 3,383
Without net income ........................... 1,941 1,941 1,672 lt638 1,622 1,624 1,384 1_038 7% 1 707
(Th-...d d~ I I...
Total compiled receipts ...................... 1,498,558 1,492,987 1,680,697 lp485,442 1,419,854 1,208,115 1,346,633 1,050,278 1,154,408 909,769
Net income ................................... 48,360 50,385 53,928 55,438 53,914 45,739 47,940 48,650 61,116 50,7%
Total tax .................................... 19,762 21p850 23,097 23,843 18,192 13p835 14,769 15tlO2 20p832 26,615
Income tax ............................... 19,726 20,599 21,859 22,336 17,669 13,835 14,769 15,102 18,845 9,591
Excess profits taxes ..................... 36 1,251 1,238 1,507 523 - - - 1,987 17,023
Deficit ...................................... 7,352 6,530 6,957 5,793 4,956 6,412 8,479 4,746 1,451 862
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. -Description of the Sample and Limitations of
ACTIVE CORPORATION INCOME TAX RETURNS,1945-1954 165
TRADE: RETAIL: EATING AND DRINKING PLACES

Total number of returns of active corporations
With net income .............................. 7,732 8,602 8,023 7,544 6,919 6,612 6,563 6,306 7,098 6,719
(M-d d.11...
Net income ................................... 70,229 71,033 68,351 62,132 59,210 57,148 60,8 61,285 80,980 74,138
Total tax .................................... 26,172 27,595 28,179 23,821 18,636 17,102 18,322 18,204
, 25,459 36,139
Income tax ............................... 25,965 25,900 26,452 22,207 17,963 17,102 18p322 18 204 24,154 14,092
Excess profits taxes ..................... 207 1,695 1,727 1,614 673 - - 1,305 22,047
Total compiled receipts ...................... 927p974 806,563 757,907 755,592 685,616 699,799 663,439 576,900 339,806 193,355
Deficit ...................................... 39,421 29,558 30,071 33,105 31,130 31,917 30,09 27,680 16,624 7,116
TRADE: RETAIL: BUILDING MATERIALS AND HARDWARE

With net income .............................. 10 433 10,446 11,397 12,060 llp729 8,960 8,120 9,721 8,686 7,665
Without net income ........................... 5,559
' 4,888 3,854 2,759 2,509 2,913 lp47 1,575 1,444 1,464
(Th-d d.11-)
Net income ................. : ................. 155,171 142,520 187,762 230s359 265,052 148,628 191,341 225,273 167,905 100,172
Total tax .................................... 56,618 52,858 72,842 91,308 91,096 44,635 60,651 71,811 51,657 40,487
Income tax ............................... 56,561 51,638 69,941 86,008 85,355 ",635 60,651 71,811 50,971 23,334
Ret urna without net income:
Deficit ....................................... 34,400 29,664 22,511 13,241 9,996 15p8ll 6,100 4,544 3,193 5,683
OTHER RETAIL TRADE

With net income .............................. 149: r6
201 148:40.
13 1 7,7091
14,810 147: 345
6 51 1 147: 261
6 41 13S:011
2 16 131 13 514 1 11 951 10,645
Without net income ......... - ............... " P 51211 3E~~ 2:545 2,076
(Th-d d.11...
Total compiled receipts ...................... 4,709,386 1 4,395,8721 4,409 9671 4p384 436 1 4,278,143 1 3,746,215 1 4,644 991 1 4,772,856 1 3,583,299 2,708,543
Net income ...... ............................ 156,411 1 144,4681 156,847
, 179:680 186,728 1 147,521 1 218:499 1 215,854 1 224p264 139,116
Total tax .................................... 55,3 58,22 69
4 061 60,829 42:551 66,319 66,,078 71,,459 61,800
Income t x ............................... 55,281
1-1 -- 1,61871
51:6 55,7287 1 6 :63, 57,745 42 551 66,319 66 078 69,687 30 137
Excess profits taxes ..................... 98 2,479 2,501 4,424 3,084 - - - 1 772 31:663
Return a without net income:
Total compiled rec eipte ...................... 1,130,899 1,095,8341 989,364 1 800 158 1 702,934 1 912,476 1 725,345 1 431,262 1 202,981 164 767
Deficit ....................................... 42,1071 35,8801 35p162 1 29,121 1 29,181 1 38,970 1 28,758 1 18,081 1 9,119 4,485
TRADE NOT ALLOCABLE

With net income ............................. 12 641 11,851 11 993 10,868 10,258 11,342 15,093 16,655 15,373 11,030
Without net income .......................... 8:865 7p7771 5:74 4,621 4,726 5,964 6,000 5,567 3,723 3,028
(Th-...d d.11...
Tote 1 compiled r~.ceipts ...................... 7,548,448 7,634,341 7,500,151 7,466,102 7,014,690 6,592,507 9,312,532 9,376,360 7,660,624 5pO21,909
Net income ................................... 233,415 236,506 226,656 265,820 308,159 243,384 466,374 548,056 478,981 267,794
Total tax .................................... 92,875 96,512 95,639 113,429 114,393 77,843 155,576 183,974 161,654 126,466
I come tax ............................... 92,724 93,028 90,324 106p232 107,075 77,943 155,576 183,974 158,241 61,528
Total compiled receipts ...................... 1,177,741 1,095,581 1,014,816 808,810 572,786 lpl55,792 895,952 784,991 427,024 315,509
Deficit ...................................... 5Op837 44,675 29sl75 30,344 22,855 42,310 34,700 33,433 14,744 9,599
TOTAL FINANCE, INSURANCE, REAL ESTATE, AND

IESSORS OF REAL PROPERTY
With net income .............................. 138,764 133,891 128,491 125,858 122,742 116,587 112,038 105,918 102 278 1 90,568
Without net income ........................... 66,575 61,316 57,364 51,974 49,099 49,690 48,605 45,125 42,095 1 45,005
(Th-d d. I I...
Total compiled receipts ...................... 26,469,350 23,654,257 21,329,647 18,379,566 17,382,475 16,182,500 14,548,902 12,091,327 10,829,109 9s734plO4
Net income ................................... 8,293,140 7,184,350 6,707,560 6,187,604 5,993,562 5,525,919 4,761,579 4,113,752 4,269,105 3,756,042
Total tax .................................... 2,094,190 1,902,205 1,765,557 1,543,189 1,255,723 1,010,379 813,575 648,027 736,663 666,793
Income tax ............................... 2,093,547 1,857,697 1,723,260 1,495p524 1,214,064 1,010,379 813,575 648,027 733,346 602,980
Total compiled receipts ...................... 3,326,369 2,520,657 2p339,926 1,977,044 lpl92,344 865,559 925,567 1,743,622 1,562,441 1,092,671
Deficit ...................................... 289,323 263,039 248,619 254,660 274,185 241,932 236,402 272,230 284,621 262,141
Table 42.-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-C-ti,,.d
Major industrial group, selected item 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
TOTAL FINANCE

With
in ome .............................. 34,208 31,583 30,971 30,219 29,660 29,489 28,843 28,410 27,424 25,600
Without
net net income ........................... 13,394 12,583 11,792 7,356 7,306 8,368 8,255 8,317 7,551 7,344
(Th-d d.1 I...

Returns th net inco e:
Totalwi compiled receipts. ..................... 10,895,4491 9,643,4471 8,670,1581 7,493,782 62763,677 6,303,245
'930 119 977
5 :.2:0 15, 4,1179,., 1,835,711 4,145,138
Net income ................................... 3,708,2021 3,010,6851 2,933,6861 2,763,875 2,578,413 2,282 1,683,230 2,018,645 1,753,569
Total tax .................................... 12235,71 :37,7

1,~ 690,009 494,973 424:743~ -:655 447 959 406,514
Income t x ................. ............. 1,235243.
61 1:~~74 7
1 ': 029
1 1:623
-91 112 16
907: 19'2 668,105 494,973 424 743 348 655 446 103 385,726
Excess profits tax-. ... ................ 274 242659 23,446 25,029 21,904 - - - 1,856 20,789
al
without
c I I ne income:
Returns
To ed tr eccipts ...................... 1,662,128
6 '1711 1,356,7331
61, 1,09 4571 112,239 lG6,628 136,6171 181,8701 200,079 108,707 91,291
De t ......................................
ficit omp 777 69?_~2~j
1' T1; 912584 912087 89,0741 96,252 69,857 67.584
FINANCE: BANKS AND TRUST COMPANIES
Total number of returns of active -r-porations:

With net income .............................. 13,7921 13,7711 ',,911791 11,4171701 14,262
5. 1 14,62151
11 14,6261.21 14,628292 14,2981 14,038
Without net in-o- ........................... 888 715 613 818
(Th-...d d.11.-)
led receipts... ................... 7,015,934 6,167,813 5 440 41141 4 553 3341 4,111,439 1 3,766,9171
, , 3,514,051 3,288,018 3 218,966 2,820,124
Net income
Total compi................................... 2,090,115 1,604,4001 1,4951330 1:316,9841 1,215,171 1 1 031 341 9312498 832,027 11139,053
, 1,008,291
Total tax .................................... 1177,742

66, 72,:4
750 11.
31~ 690
7,:.
21.11 55745:7 7861~ 4283:,616
17 677 272,283 225,245 329,239 295,960
In ome tax ....... ....................... 877, 6 40 310
'10:677 272,283 225,245 328,611 284,099
Excess profits taY~ ...................... 81 22,321 18,595 19,211 14,799 - - 11,861
628
Re c come:
without I
net receipts ...................... 42,235 67 8831 59 6.34 28,118 40,449
turns
Tot al piled 257,325 254,3891 269,0461 25 5 25 531
Deficit o ..................................... 9,200 12,0891 23,5231 681
4111, 4 526 13,297 10 134 7 797 12,685 12,734
FINANCE: CREDIT AGENCIES OTHER THAN BANKS
Total number of returns of acti- corporations:

Wi,hoa
With net in ome ................ ............ 14,155 12,135 11,151 9,668 8,856 9,128 8,577 8,459 7,209 5,872
t net income ..........................
* 10,263 9,256 8,007 47208 4,258 4,910 4,663 5,222 4,527 4,362
L
(A--d d.11...
Ret To th net income:
arnstalwi compiled receipts ...................... 2,165,757 2,156,514 1,880,017 1,543,285 1,316,493 964,830 791,442 592,359 421,126 289, 065
Net income ................................... 565,704 539,728 515oO52 460,019 415,208 293,141 233,591 171,960 114,841 80,627
Total tax .................................... 250,197 249,749 235,163 211,204 161,123 98,199 77,341 52,433 34,747 27,923
Income profits
t x ............................... 250,009 248,152 232,407 207,450 155,435 98,199 77,341 52,433 34,297 24,680
a - - -
Exces taxes ..................... 188 1,597 2,756 3,754 5,688 450 3,241
thout net income:

Returns
Total
f wi. compiled receipt .......................
..................................... 1,276,137 1,048,779 746,118 31,323 33,691 38,944 49,244 43,842 36,620 26,398
De icit. 34,591 31,579 23,877 17,747 18,045 25,107 30,938 32,118 25,G60 21,326
FINANCE: HOLDING AND OTHER INVESTWNT

COMPANIES
Total nu~ber of returns of active corp-ations:

Withone
t in ome .............................. 5,088 4,713 4 9301 5:43 1 5: 1* 1 5:213 1 5:267 1 4 996 1 5,007 4 699
Wi h t tnet income ........................... 1,811 1,9581 2:307 2 0903 2 Oc2)04 2 228 2 233 1:745 1,989 1:918
(rh--d d.11 ...

Bet th inc me:
Ts wi compi
Total netled --ipt ....................... 1,264,610 1,097,342 1,144,122
78 483 1,2"
9 21, 1,132 944 1,423 149 984:~65,7
1, " 161,90
5:D2S8
42 1,001:299 827,.
Net im.m ................................... 985,932 826,034 8 53,5 904:812 929:224 ? 716 987 606,594
Total tax .................................... 84,812 85,504 108,4' ll.,628

log, . 93,669 78,732 69 9 65:1599 71:1765
1. 64:932
Income tax ............................... 84,812 85,128 106o925 3 92,992 78,732 69:,8,009 65 15_ 62,024
Excess profits taxes ..................... - 376 1,529 1,242 677 - - 455 2 910
Returns alwithout ne
7pi led t receipts
I come: ...................... 31,424 18:6651 24,505 15,871 24:95 19,736 18,627 45 030 24,235 18 741
Tot
Deficit ...................................... 9,040 14 160 13,447 13,983 65 3765 47,104 39,122 45:921 26,637 31:970
FINANCE: SECURITY AND COMMDDITY-EXCHANGE

BROKERS AND EEALERS
Total number of returns of -tive corporations:

With
Without in ome .............................. 1,173 964 901 9141 1,052 843 787 733 910 991
net ne t incom ........................... 432 654 661 578 476 619 699 661 422 246
(Th.-d d.11 ...

Returns with net incom:
183,869 202,801 148,349 128,885 109,483 190,334 208,608
NTots I compiled receipts ...................... 449,148 221,778 205,615
66,451 40,523 44,821 33,318 43,222 29,224 22,037 23,955 47,764 58,059
t income ...................................
Total tax .................................... 22,959 13,693 15,197 10,572 11,601 7,365 5,310 5,818 12,808 17,699
13,328 14,631 9,750 10,861 7,365 5,310 5,818 12,485 14,921

Income t x ............................... 22,954
Excess profits taxes ..................... 5 365 566 822 740 - - - 323 2,778
Bet without net income :

'rn'al compiled receipts ...................... 97,642 34,900 51,788 39,890 22,451 35,702 46,116 51,573 19,734 5,702
Tot 8,880 10,4161 5,475 1,553
Deficit ................ I ..................... 3,340 3,889 8,176 10,804 3,637 5,579
"Description of the Sample and Limitations of

NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables.
Data" for each of the years 1951-54 appears in the annual volum for those years.
ACTIVE CORPORATION INCOME TAX RETURNS,1945-1954 167
T&ble 42.-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-Continued
Major industrial group, selected item 1954 1 1953 1 1952 1 1951 1 1950 1 1949 1 1948 1 1947 1 1946 1945
TOTAL INSURANCE CARRIERS AND AGENTS

With net income .............................. 9,572 9,191 8,791 8 333 7,903 7,499 7,232 6,716 6,131 5,529
Without net income ........................... 3,318 3,102 2,747 2:532 2,594 2,415 2,101 1,927 1,839 2,065
(Th-d d.11-)
Returns tb net income:
wi compiled receipts ......................
Total 10,783 053 1 9,875,839 8,800,252 7,183,775 7,071,700 6,709,986 6,086,930 4,483,872 3,385,006 3,523,849
Net income ................................... 3,486,380
, 1 3,124,609 2,767,346 2,411,079 2,380,233 2,353,770 1,970,356 1,616,356 1,478,953 1,476,097
Total tax .................................... 489,229
, 431,151 351,861 274,699 247,320 261,418 133,035 66,613 67,556 86,157
Income tax ...... ****,*,** ................ 489 183 420,199 343,639 266,421 239,435 261,418 133,035 66,613 67,504 75,659
Excess profits te ....................... 46 10,952 8,222 8,278 7,885 - - - 52 10,497
Rat urna without net income:

Total compiled receipts ...................... 457 703 268,340 434,666 1,122,391 458,549 175,299 210,989 1,052,786 1,012,448 505,009
Deficit ...................................... 29,03
, 38,357 26,949 53,043 33,050 17,761 18,541 49,742 70,236 29,363
INSURANCE CARRIERS

With net income .............................. 2,638 2,508 2,288 2,211 2,278 2,158 2,097 1,840 1,679 1,626
Without net income ........................... 366 360 372 434 408 33", 355 415 447 376
(Th-d d.11...
Returns with r.et income:
Total compiled receipts ...................... 10,091 179 9,272,927 8,290,0&
'O,~ 6,699,672 6 665,125
, 6:330:697 5:706,382 4:0923,2b8
'551 3 O'l 4,221
1:4,4:. 3,310:697
,
Net income .................. ... .............. 3,404: 070 3,047,946 F2,695,018
;' 2,339,863 2 : 314 548 2 293 155 1 897 948 1 55 1 446 284
Total tax .................................... 460:3905

'S 9 324,560 248,233 227,076 244,030 111,449 47,835 55,103 75,887
Income tax ............................... 460 -2
3 ~3'10'61
'9 317,989 241,646 220,145 244,030 111,449 4 55,102 68,390
Excess profits taxes ..................... 15 9,128 6,571 6,587 6,931 - - 7,498
1

Total compiled receipts ...................... 325,479 1 179,8371 361,427 1,072,410 392:718973
27 1 119,457 173,488
1 011,961 981,749 468,556
Deficit ...................................... 19,230 1 29,6821 22,472 46,6,6 12,272 1 15,523 Ll 45 630 1 68,225 27,109
INSURANCE AGENTS AND BROKERS
Total number of returns of active corl,orations:

With net income .............................. 6;934
2 9,2 6;6121
2 74 6;503 6,122 5 625 5,341 5 135 4,876 4 452 3,903
Without net incom ............................ 2 375 2,098 2:186 2,0Z8 1 1:746 1,512 1:392 1,689
(Th--d d.11...
Total compiled receipts ......................
F-
691,874 602,912 510,166 484,103 4G6 575 379,289 380,548 390,664 294,579 213,151
Net income .................................... 82,310 76,663 72,328 71,216 65,685 60,615 72,408 63,605 29,813
, 44,881
Total tax .................................... 28,834 28,962 27,301 26,466 20,244 17,388 21,586 18,778 l2o453 10,270
Inco.e tax ............................... 28,803 27,138 25,650 24,775 19,290 17,388 21,586 18,778 12,402 7,270
Excess profits taxes ..................... 31 1,824 1,651 1,691 954 - - - 51 3,000
Raturna without net incomc: i

Tota 1 compiled receipts ...................... 132,224 $8,503 73,239 49,911 66,356 55,842 37,501 40,825 30 699 36 453
Deficit ...................................... 9,801 8,675 4,477 6,407 5,263 5,489 3,018 4,112 21011
, 2:254
REAL ESTATE, EXCEPT LESSORS OF REAL PROPERTY

OTHER THAN BUILDINGS

With net income .............................. 91,706 89,493 85,189 83,794 81,650 76,010 72,099 67,047 65,248 i 55,955
Without net income ........................... 48 ll~ 43,467 40,948 40,366 37,292 36,603 36,002 31,934 3qO~ 32,796
(A-d d.11...
Returns with net incom:
Total compiled receipts.. .................... 4,520,211 3,810,579 3,577,145 3,423,831 3,267,234 2,896,984 2,746,361 2,473,265 2,366:514 1,859,364
Net income ................................... 981,769 896,199 860,978 860,492 884,629 741,256 724,966 672,786 668 693 423,177
Total tax .................................... 319:057 299,681 295,444 290,258 260,937 201,923 198,490 183,821 178,742 131,643
Inco.e tax ............................... 318 763 293,"8 288,231 280,484 250,544 201,923 198,490 183,821 177,364 108,465
Total compiled receipts ...................... 1,177,599 849,449 784,002 704,842 593,9147 523,118 497,584 452,478 409,929 464,073
Deficit ...................................... 196o452 155,160 143,915 146,115 140,478 123,143 115,518 112,109 126,105 144,556
LESSORS OF REAL PROPERTY, EXCEPT BUILDINGS

With net in ome .............................. 3 278 3 624 3 5411 3 512 3:529 3,189 3,864
, 3:745 3:475 3,484
Without net income ........................... 11748
1 21'164 1 877 1 720 1 907 2 304 2 247 2 947 2 662 2,800
(Th-d d.11-)
Returns with net incme:
Total compiled receipts ...................... 21,617 314,392
1,2,B. 212 55C
145:0 92 278,178 279:1164 24727,2835 29,6,5,7.6
6 2 241,2S1
1,3 ~O 1 122421,8744 205,713
Net income ................................... 116,789 .1
152 158 150 287 1 1 103 199
Total tax .................................... 50,194 71,996 69,183 71,041 57,457 52,065 57,307 48,938
, 42 406 42 479
In ome t x ............................... 50,165 69,332 65,767 66,457 55,980 5 57,307 48 938 42 , 375 33 130
FIceas profits taxes... .................. 29 2,664 3,416 4,584 1,477 - - 31 9,349
Total compiled receipts ...................... 28,539 46 135 29,801 37 572 33,220 30 525 35,124 38,279 _ 32 357 32,298
Deficit ...................................... 7,669 7,805 8,732 81287 9,073 91941 13,269 14,127 1 18,423 20.637
NOTE: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. -'Description of the Sample and Limitations of
168 ACTIVE CORPORATION INCOME TAX RETURNS,1945-1954
TOM* 42-NUMBER OF RETURNS, TOTAL COMPILED RECEIPrS, NET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-Conlimd
TOTAL SERVICES

With net income .............................. 34,682 35,477 35,084 33,265 30,164 29,468 29,412 28,154 26,169 22,977
(Th-d d.11...
Total compiled receipts ...................... lOtl46,869 9p982,826 9,680,232 8,862,194 7,855,853 7,556,431 7,460,G49 7,401,951 6,6OOt362 5t374,674
Net income ................................... 788,143 749,682 761,988 768,450 693,381 682,310 755,282 815,255 874,592 648,697
Total tax .................................... 325,917 323,832 331,965 329,074 240,530 223,745 245p9O7 263,800 293,069 316,519
Income tax ............................... 324,432 302,002 309,652 306,806 230,868 223,745 245,907 263,800 276,818 131,970

Total compiled receipts.... .................. 2,446,758 2,117,724 lt920,334 1,809,810 1,737,435 1,729,144 1,557,925 1,094,332 773,183 597,319
Deficit ...................................... 197,015 141,331 132t233 135p793 121,309 124,911 124,931 91,681 72,068 47,002
SERVICES: HOTELS AND OTHER LODGING PLACES

With net income .............................. 3 620 3,678 3 912 3,794 3 599 3 584 3 667 3 547 3,469 3,129
Without net income ........................... 3:854 3,276 2;915 2,864 2;703 2;547 2;160 1:809 1,336 1,105
(Th-d d.11-)
Total compiled receipts ...................... 1,396p336 1,365,023 1,408,594 1,325,004 1,274,887 1,267,249 1,31A,562 1,279,380 1,206,243 1,004,424
Net income .. ................................. 106,269 108,170 118,985 119,839 117,892 115p486 131,851 131,831 139p764 111,990
Total tax .................................... 43p4ll 45,984 51,295 50tO36 41,334 37,904 43,739 44,077 46,698 53,262
Incom tax ............................... 43,275 44,508 49,644 48,286 39,990 37,904 43,739 44,077 45,071 25,533
Excess profits taxes ..................... 138 1,476 1,651 1,750 1,344 - - - lp627 27,729

Total compiled receipts ...................... 451,566 375,774 280,039 315,454 265,126 264p255 231,131 169,270 132,701 91,747
Deficit ...................................... 30,652 24,720 16p934 20,861 19,528 18,944 l6p608 16,878 11,496 8,859
SERVICES: PERSONAL SERVICES

With net income .............................. 7,122 7 576 7,156 7 278 6:597 6 689 6:1 6:515 6:165 5 679
Without net income.. ......................... 5,418 5:154 5,093 4:785 5 031 4:922 4 467 3 490 2 703 2:274
(Th... d d.11-)
Total compiled receipts ...................... 1,453,944 1,467 7 711 1,324 683 1,205,9%
, 1,191,893
, 1,206 88 0 1,010,312 821,866
Net income ...... ;.... ........................ 81,410 80,917 71,6 791 183 74 077 78 044 8011
1 43 ~3971
9' 74,887 59,553
Total tax .................................... 29,98125 30 718

29:099 30,438 29 658 22,663 22,761
, 23:180 24,483
, 21 861 23,375
Income tax ............................... 29,6 28,607 27:680 21, 906 22 765 23 180 24 483 21:303 13,466
Excess prcfits taxes ..................... 227 1,619 1,831 1,978 757 - - - 558 gtgog

Total compilcl receipts ...................... 413,474 398 043 350t6O4 384,308 341:716 316,611 285 781 211,293 153 850 136,190
Deficit ...................................... 19,288 17:808 15p816 16,401 16 173 16,048 15:150 11,397 8:231 5,432
SERVICES: BUSINESS SERVICES
Total number of returns of active corporaties:

W, th net income .............................. 9,434 8,748 9:065 7:671
4 9 6:673 6 067 5 811 5 359 4 598 4,080
Wi thout net incone ........................... 6,358 5,698 1 5 329 54 4 699 4:737 4:083 3:570 2:878 2,548
L
(A--d d.11 ...
---
Returns wi.h net incom-
Total compiled receipt- ....... ............. 3,190,456 3,108,9" 2,862,526 2,506,514 2,097,004 1 1,827,037 1,714,722 1 1,513,700 1,244 683 1,041,943
Net inco-e. .................................. 232,734 227,053 215o342 216,543 179,725 1 153,279 152,735 1 135,ODO 111:149 83,389
rotal tax .................................... %,645 01,016 96,06' 5: 51:076 51,151 44:703 36::~
36 39:899
Income tax ............................... 96,381 92,863 - -2
86:.61 88,952 61
- 7'14
' .3 51 076 51 151 44 703 18 981
Excess profits tax- ..................... 264 8,153 7t621 9,111 4,029 - - - 764 20,919
Rotarns wiLhout net income:

ftal I compiled receipts ...................... 460,264 3141t377 419,083 330 867 324,551 332,179 269,707 248,883 203 643 115 539
To i- t ......................... I ............
D, 49,058 24,521 30,985 24:446 16,535 23,039 15,273 13,910 10:939 5:829
SERVICES: AUTOMOTIVE REPAIR SERVICES AND GARAGES
T~tal I n ater of returns of active corporations:

W th" net income .............................. 3,433 3,769 3,593
, lol65
, 2,,726 2 488 2:598 2,497
, 2,244 1,982
Without net incor.~c ........................... 2,718 2,400 2 036 1 758 1 647 1:776 1 407 1 056 865 993
(Th-0 d.11...
tat compiled receipt....................... 483,566 533t%3 509,395 461,572 348,277 295,286 309t2O5 302,978 237,330 149,033
I' ino .. ...................................
N't 34,199 40,870 43,926 39,038 32,922 27,911 33,489 31,418 25,586 10,487
T.t,,l t ...................................... 11,734 14tG42 15,263 13,113 9,904 7,911 9t356 8,696 7,046 3,479
I.e.- tax ......... ..................... 11,682 13,567 14,574 12,517 9,504 7t9ll 9,356 8,696 6,893 2,286
Fxc- profits taxes ..................... 52 475 689 596 400 - - - 153 1,192
Rr~,ns without n~t incom :

DefLcit ...................................... 15,116 7,644 5,821 4,701 4,105 5,445 3,684 2,675 1,868 1,607
: For explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. "Description of the Sample and Limitations of
NOTE for each of the years 1951-54 appears in the annual volume for those years.
Data,,
ACTIVE CORPORATION INCOME TAX RETURNS, lW-1954 169
Table 42.-NUMBER OF RETURNS, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, AND TAXES, BY MAJOR INDUSTRIAL GROUP AND BY INCOME AND DEFICIT STATUS-ConUnued
SERVICES: MISCELLANEOUS REPAIR SERVICES,

RAND TRADES
With net income .............................. 1,704 2,078 1,877 1,780 1,462 1,190 1,232 1,319 1,068 961
Without net income ........................... 1,883 1,922 1,313 1,131 1,125 1,174 854 821 629 528
(Th-~ d.11...
Net income ................................... 13,605 20,928 20,106 22,234 18,917 14,145 16,110 13,756 8;136 7,363
Total tax .................................... 4;991 8,514 7,829 9,042 6,368 4,543 5,071 4,048 2,239 3,187
Income tax ............................... 4,977 7;765 7,196 8,232 6,064 4,543 5,071 4,048 2,210 1,361
-
Exces a profits taxes ..................... 14 749 633 810 304 - - - 29 1,825

Deficit ...................................... 9,308 7,610 4,174 3,336 4,710 4,849 3,310 2,246 2,039 1,145
SERVICES: MOTION PICTUIES

With net income .............................. 3,183 3,215 3,225 3,320 3,314 3,558 3,551 3,415 3,424 3,167
Without net income ........................... 2,529 2,903 2,865 2,769 2,567 ~1,~
967 1,606 1,190 854 767
(Th...d d.11.,.)
Total compiled receipts ...................... 1,863,628 1,550,103 1,754,733 1,618,094 1,6G8,064 1,731,826 1,630,955 1;926,367 1,890,731 1,606,587
Net income ................................... 166,736 120o092 131,331 149,506 156,368 182,736 211,410 289,715 369,575 273,440
Total tax .................................... 73,987 52,407 58,514 64,009 53,344 60,683 70,885 94,919 128,316 136,675
Income tax ............................... 73,475 49,864 55,974 62,214 52,551 60,683 70,885 94,919 116,746 53,325
Excess profits taxes. 512 2,543 2,540 1,795 793 - - - 11,570 83,350

Deficit ...................................... 30,317 26,077 25,941 32,943 24,569 22,770 38,503 14,636 13,408 7,612
SERVICES: AMUSIWNT, EXCEPT MOTION PICTURES

With net income .............................. 2,934 2,987 3,012 2,732 2,687 _
2,822
'GO 2,498 2,471 2,622 1,881
Without net income ........................... 3,851 3,436 3,691 3,607 4,053 41 8 3,312 2,724 1,956 1,844
(Th--d d.11...
Net income ..................................... 86,175 78,991 81,416 75,425 61,281 62,262 76,507 77,384 103,683 74,957
Total tax .................................... 38,226 36,505 38,856 34,800 23,098 23,955 26,178 26,723 37,092 43,822
Income tax ............................... 38,027 34,249 36,426 32,563 22,285 23,955 26,178 26,723 35,680 11,695
Excess profits taxes ..................... 199 2,256 2,430 2,237 813 - - - 1,412 32,127
Raturna without net income:

Deficit ...................................... 17,402 14,651 16,353 19,152 19,748 19,188 17,653 14,992 12,208 5,779
OTHER SERVICES, INCLUDING SCHOOLS

With net income .............................. 3,252 3,426 3,244 3,535 3,106 3,070 3,259 3,031 2,579 2,098
(A--d d.11...
Total compiled receipts ...................... 795,271 894,658 8",733 747,789 590,524 535,025 536,835 512,397 375,445 305,496
Net income ................................... 67,015 72,661 72,218 66,682 52,199 48,447 52,750 52,177 41,812 27,518
Total tax .................................... 27,011 34,646 35,288 30,353 18,076 14,908 16,347 16,151 12,977 12,819
Income tax ............................... 26,932 30,087 30,370 26,362 16,854 14,908 16,347 16,151 12,839 5,324
Excess profits taxes ..................... 79 4,559 4,918 3,991 - - -
1,222 138 7,496

Deficit ...................................... 25,874 18,300 16,209 13,953 15,941 14,628 14,750 14,947 11,879 10,740
NATURE OF BUSINESS NOT ALLOCABLE

With net income .............................. 1,855 1,089 987 1,069 1,145 902 953 2,047 2,211 1,908
(Th-.-d
Net inco me ................................... 15,731 9,862 10,429 14,006 17,157 9,420 12,345 25,153 24,007 15,283
Total tax .................................... 4,895 4,118 3,961 4,771 4,525 2,711 3,602 6,959 6,530 5,362
Income tax ............................... 4,895 3,634 3,719 4,597 4,386 2,711 3,602 6,959 6,412 3,492
Exce&s profits taxes ..................... - 484 242 174 139 - - - 118 1,870

Deficit ...................................... 10,983 16,152 8,875 13,593 10,292 7,586 12,767 __
9554 7 2_03 10,949
Data-' for each of the years 1951-54 appears in the annual volume for those years.
T.ble 48.-NUMBER OF RETURNS AND SUBSIDIARM, TOTAL COMPILED RECEIPTS, NET INCOME OR DEFICIT, NET OPERATING LOSS DEDUCTION, AND TAXES, BY INCOME AND DEFICIT STATUS
Item 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945
Number of consalidated returns:

net 767 1,080
With inco- ................................. 1,510 1,466 1,351 1,180 998 936 878 763
Without net income .............................. 1,213 942 818 760 613 743 540 443 385 329
Number of subsidiaries ............................ 10,416 9,670 9,019 7,551 6,692 6,825 6,373 5,349 5,037 6,093
(Th-...d d.11 ...
Consolidated returns with net income:

Net income ...................................... 4,837,739 4,186,409 3,863,462 4,186,920 3,313,568 2,220,950 2,608,552 2,026,690 1,452,521 2,035,203
Net operating loss deduction .................... 40,152 27,143 31,234 30,027 28,369 14,302 23,190 39,253 8,400 9,016
Total tax ....................................... 2,226,557 1,894,963 1,701,228 1,955,174 1,250,111 733,637 860,543 674,522 476,885 984,846
Income tax .................................... 2,226,263 1,876,302 1,684,081 1,853,271 1,217,534 733,637 880,543 674,522 474,164 485,060
Excess profits taxes .......................... 294 18,661 17,147 101,903 32,577 - - - 2,721 1499,?86
Consolidated returns without net income:

Deficit ......................................... 364,339 180,803 128,096 93,172 74,392 187,396 102,284 169,748 224,933 149,595
'Includes declared value excess-profits tax of $2,201,000.

NOTE: Fir explanatory statements and comparability of data, see the texts for the 1954 tables and for these historical tables. For "Description of the Sample and Limitations of
Data' for 1954, see p. 22. Data for 1945-53 were not subject to sampling variability since all these returns were tabulated.
5. Source Book of
Statistics of Income,
1926-51,
1953-54
SOURCE BOOK OF STATISTICS OF INCOME
Page
Description and use .............................................. 173

Chart I.-Data available in the Source Book of Statistics of In-
come from corporation returns for the years 1926-51, 1953-54... 174
Chart II.-Industrial groups for which data from corporation re-

turns are shown in the Source Book of Statistics of Income, for
the years 1926-51, 1953-54: Years for which data are available
in major group tables and years for which data are available in
minor group tables ............................................. 177
172
5. SOURCE BOOK OF STATISTICS OF INCOME,
1926-1954
The Source Book consists of a series of unpublished volumes containing
tabulations of f inancial information from income ani profits tax returns,
by more detailed classifications than in the published reports, Statis-
tics of Income. The Source Book volumes am maintained in the Statistics
Division of the Internal Revenue Serviceand are available for research
purposesto officials of the FederalState, and other governmental units
and to qualified representatives of accredited organizations. Per-
mission to copy data from the Source Book may be obtained upon presen-
tation of a written request addressed to the Commissioner of Internal
Revenue.
The corporation data in the Source Book are from the income and
profits tax returns for 1926 through 1951 and 1953 through 1954. As an
aid to acceleration of the published data, the Source Book was not pre-
pared for 1952 data. The data are tabulated in aggregate (1) for all
returns and (2) for returns with balance sheets,also segregated in both
instances as to returns with net income and returns with no net income.
For the years 1932-34,tabulations of data from consolidated returns
are also shown. A considerable number of corporations filing consoli-
dated returns for 1932 and 1933 were denied this privilege for taxable
years beginning after December 31, 1933, by section 141 of the Revenue
Act of 1934, which limited the filing of consolidated returns to common
carriers by railroad and their related holding and leasing companies.
These tabulations were made to show the shift effected by this provision
of the Revenue Act of 1934 on data from the returns for 1934 as com-
pared with corresponding items from the returns for prior years. (Be-
ginning in 1942, the privilege of filing consolidated returns is again
extended, in general, to all corporations.)
Beginning with 1951,a probability sample has been used as the basis
of the tabulated data. Description of the sample and limitations of
data for each year may be found in the published volume for the year.
A summary description of the data contained in the Source Book is
presented in Charts I and II. The first chart shows tle years and clas-
sifications for which the items are available and the second is a de-
tailed presentation of the industries for which the items are available
in the major group tables and in the minor group tables. By use of these
two charts one can quickly determine whether or not the desired data
are available in the Source Book. For example: To determine the avail-
ability of figures representing gross sales of anthracite coal mining
companies for the years 1926 through 1951 and 1953 through 1954, the
first chart shows that gross sales will be found for the years 1926
through 1951 and 1953.through 1954 for major and minor industrial groups;
the second chart (items 17-19, under Nining and quarrying") shows that
anthracite mining is included with bituminous, etc.,for the years 1926-
27 but is tabulated separately for 1928-51 and 1953-54.
173
FOR THE YEARS 1926-51, 1953-54
Chut I-DATA AVAILABLE IN THE SOURCE BOOK OF STATISTICS OF INCOME FROM CORPORATION RETURNS
without net income. For list of major and minor industrial groups, see chart IT]
n data are shown (1) for returns with net income and (2) for returns
Returns with balance sheets Consolidated returns
States and States and Minor industrial groups

Major in- Major in- Minor industrial groups Territories
Minor in- Terr itor ies
Major and dustrial dustrial Consolidated Not consolidated
d ustrial BY ---group.
7trial
By BY 1.
minor groups by groups by 1933 1933
Item groups by By minor By major By total States minor major aggregate
i nd us t rial net in- total In minor
States indus- indus- assets and indus- gtrial
indus-
-
By
g roup s in come and assets aggrega te rou In ... By 1934
Ter- trial trial classes Terri- trial Mus-
trialps
jor ...
aggregate defic i t
c and classes aggregate industry
lasses ritories groups groups tories groups group s
1916-43 1 1930-51;53-54 1942-51;53-54 1931-36 1931-37 1938-41 1932-33 1934 1934 1933 1934
1926-51;53-54 1926-36 1926-37 1938-41 1931-51;53-54
I Number of returns ........................... 1950-51
RECEIPTS
1942-51;53-54 1942-51;53-54 19 32-33 1934 1934 1933 1934 2
1926-51;53-54 ... 1926-36 1926-37 1938-41 1931-51;53-54
2 Gross sal a ................................. 1942-51;53-54 1932-33 1934 1934 1933 1934 3
1932-36 1932-37 1938-41 1932-51;53-54 1942-51;53-54
3 Gross recei p ts ~ (other) operations .......... 1932-51;53-54 ...
... ... ... ... ... ... ... ... 4
1926-31 1926-31 ... 1931 ...
4 Gross profit, other operations .............. 1926-31 ...
Interest on Government obligations: 1942-51;53-54 5

... 1941 1941-51;53-54 1942-51;53-54
Wholly taxab le .......................... 1941-51;53-54 6
... 19
' ;; 1936:;; 1938-40 1936-40 ... ...
Subjec t to declared value excess-profits 1936-40
tax. 1942-45 ... ... ... 7
... ... ... 1941 1941-45 1942-45
Subject to declared value excess-profits 1941-45
Subtax and surtax. 1942-51;53-54 ... a
... 1941 1941-51;53-54 1942-51;53-54
jeet to surtax only .................. 1941-51;53-54 ...
1942-51;53-54 ... ... 9
;;6, 1936-37 1938-41 1936-51;53-54 1942-51;53-54
Wholly tax-exempt ....................... 1936-51;53-54 ...
... ... 1932-33 1934 1934 1933 1934
1926-35 1926-35 1931-35 ...
T -e e t, wholly and partially ........ 1926-35 1934 1934 1933 1934
1926-36 1926-37 1938 :Z 1931-51;53-54 1942-51;53-54 1942-51;53 :;~ ... ... 1932-33
Oth.; "int er l ..............................
x ept 1926-51;53-54
192 -37 1931-37 1944-51;53-54 ... ... ... 1932-33 193~ 1934 1933 1934 12
... 1929-36 1929-37 ... 1944-51;53-54
12 Rent........................................ ( 1944-51;53-54
1 .44-51;53-54
9
... ... ... 13
1938-41 1938~43 942-43 942-43
13 Ren s and royalties ......................... 1938_43
..: ::: ::: ::: *:: ...
1944-51;53_ 54 ... 1944-51;53-54 19"_5 1;53-54
1 1944-51;53-54
1
14 Rcyalties
t ................................... ... 1932-33 ... ... 19,33 15
1928-33 1928~33 ... 1931-33 ...
15 Profit , sale of capital assets .............. 1928-33 ...
... 1934 1934 ... 16
1934-43 ... 1934-36 1934-37 1938-41 1934-43 1942-43 1942:~;
16 Net capital gain ............................
... ... ... ... ... ... 17
... ... 1944-51;53-54 1944-51;53-54 1944-51;53-54 ...
17 Excess of net short-term capital gain over 1944-51;53-54 ... ...
net long-term capital loss.
1944-51;53-54 1944-51;53-54 ... ... ... ... ... ... 18
1944-51;53-54 ... ... ... ... 1944-51;53-54
18 Excess of net long-term capital gain over
1938-51;53-54 1942-51;53-54 1942-51;53-54 ... 19
... 1938-41
19 Net gain , sales other than capital assets ... 1938-51;53-54 ... ...
1942-51;53-54 1942-51;53-54 ... 1932 3 19 1;;'
4 33 20
1926-51;53-54 ... 1926-36 1926-37 1938-41 1931-51;53-54
20 Div Idand a f- d omesti c corporations ........ 1942-51;53-54 1942-51;53-54 ... ... ... ... ... 21
1937-51;53-54 37 1 38-41 1937-51;53-54
21 Dividends from foreign corporations .........
1942-51;53-54 1942-51;53-54 ... ... 1932-33 1934 1934 1933
... 1934 22
1926-51;53-54 1926:;Z 1926 9
1-37 939-41
19 1931-51;53-54
22 Other receipts ..............................
1942-51;53-54 1942-51;53-54 ... ... 1932-33 1934 1934 1933 1934 23
Total compiled receipts ............... 1926-51;53-54 ... 1926-36 1926-37 1938-41 1931-51;53-54
23
DEDUCTIONS
1942-51;53-54 1942-51;53-54 ... ... 1932-33 1934 1934 1933 1934 24
Cost of goods sold ........ .................. 1926-51;53-54 ... 1926-36 1926-37 1938-41 1931-51;53-54
1942-51;53-54 1942-51;53-54 ... 1932-33 1934 1934 1933 1934 25
1932-51;53-54 ... 1932-36 1932-37 1938-41 1932-51;53-54
Cost of op erations ........... ............... 1942-51;53-54 ... 1932-33 1934 193 4 1933 1934 26
Compensation of officers .................... 1928-51;53-54 ... 1928-36 1928-37 1938-41 1931-51;53-54 1942-51;53-54
1942-51;53-54 1942-51;53-54 ... ... 1933 1934 1934 1933 1934 27
Rent paid on business property.............. 1933-51;53-54 ... 1933-36 1933-37 1938-41 1933-51;53-54
1942-51;53-54 ... 28
Repairs ..................................... 1939-51;53-54 ... ... ... 1939-41 1939-51;53-54 1942-51;53-54
1927-37 1938-41 1931-51;53-54 1942-51;53-54 1942-51;53-54 1932 ..;
3 1934
... 19.34
... 1933
... 1934 29
Bad d e bts ................................... 1927-51;53 -54 ... 1927-36 1934 1933 1934 30
1938-41 1931-51;53-54 1942-51;53-54 1942-51;53-54 1932-33, 1934
Interest paid ....... ........................ 1926-51;53-54 ... 1926-36 1926-37 31
1926-37 1938-41 1931-51;53-54 1942-51;53-54 1942-51;53-54 1932-33 1934 1934 1933 1934
Taxes paid .................................. 1926-51;53-54 ... 1926-36 ... ... 32
1936-37 1938-41 1936-51;53-54 1942-51;53-54 1942-51;53-54 ...
Contributions or gifts ...................... 1936-51;53-54 1936 1934 33
1926-37 1938-41 1931-51;53 1942-51;53 1942-51;53 ... ... 1932:3*;
... 19* 3*4' 1934 1933
Depreciation ................................ 1926-51;53 1926-36
1954 1954 ... ... ... 19 34
1954 ... ... ... ... 1954
Depreciation and amortization ............... ... 1932-33 1 ;; 4 1934 1933 34 35
1926-51;53-54 ... 1926-36 1926-37 1939-41 1931-51;53-54 1942-51;53-54 1942-51;53-54 ...
Depletion ................................... 36
1940-51;53 ... ... ... 1940-41 1940-51;53 1942-51;53 1942-51;53
Amort ization ................................ 37
1945-51;53-54 ... 1945-51;53-54 1945-51;53-54 1945-51;53-54
.verti ing.
A, .. ... ... ::: :: . ... ... . . . 38
1945-51;53-54 1945-51;53-54 1945-51;53-54 ...
untsscontr i d* er
' * pens ' ' - ' ' et
* ' ' ' io* pl~a, * * c. 1945-51;53-54 ...
1953-54 1953-54 ... ... ... ... ... ... ... 39
1953-54 ... ... ... ... 1953-54
Amounts contributed under other employee
benefit plans. 32-33 1933 40
... 1930-33 1930-33 ... 1931-33
I Loss sa e of capital assets ................ 1930-33 19';~ 19*;4, ... 41
1934-39 ... 19-34-36 1934-37 1938-39 1934-39
Net api lal loss... 42
long-t te apita1 loss .................. 1940-41 ... ... ... 1940-41 1940-41
Met loss, 942-51;53-54 942-51;53 43
asrTiso se sother than capital assets ... 1938-51;53-54 ... 1938-41 1938 51;53-54
Net 1942-51;53-54 1942-51;53-54 ... ... ... 1932 * 33 1934 19, 34 1933 1934 44
... 1926*;Z 1926-3 1938 -41 1931-51;53-54
Other deduc ti n ............................ 1926-51;53-54
1942-51;53-54 ... ... 1932-33 1934 1934 1933 1934 45
1926-51;53-54 ... 1926-36 1926-37 1938-41 1931-51;53-54 1942-51;53-54
T o tal compiled deductions ... ..........
INCCME AND TAX SUMMY

1942-51;53-54 ... ... 1932-33 1934 1934 1933 1933 46
1926-36 1926-37 ... 1931-51;53-54 1942-51;53-54
Compiled net profit or net loss ............. 1926-51;53-54 ...
1926-43
19 1942-51;53-54 ... ... ... 1932-33 1934 1934 1933 1934 47
1926-36 1926-37 1938-41 1931-51;53-54 1942-51;53-54
Ne t income or deficit .......... ............. 1926-51;53-54 50-51
1132 48
1926-32 ... 1926-32 1926-32 - 1931-32 ...
Net for prior year ......... 49
,**** ...... 1940-51;53-54 ... 1940-41 1940-51;53-54 1942-51;53-54 1942-51;53- ;4*
Net 1oserating loss deduction .... ::
op 50
profits tax 0_
1942-43 ... ... 1942-43 1942-43 1942-43
In ome subject to exce 44-45 . .. ... 51
net income 44-45 ... ... 1944-45 1944-45
AdJueted
c excess profitsas
195 - 51;53 ( 1 950-51;53 1950-51;53 1950-51;53
-
Form 1120). ... ... 1932-33 1934 1934 1933 1934 52
1926-36 1926-37 ... 1931-51;53-54 1942-51;53-54 1942-51;53-54 ...
5 Compiled net profit less total tax .......... 1926-51;53-54 ...
Cba~t I.-DATA AVAILABLE IN THE SOURCE BOOK OF STATISTICS OF INCOME FROM CORPORATION RETURNS FOR THE YEARS 1926-51,
1953-54~-ConLlnued
(Under each classification data are shown (1) for returns with net income and (2) for returns without net income.
For list of major and minor industrial groups, see chart 11]
All returns Returns with balance sheets Consolidated returns

Major in- States and Sta es and
Minor in- Terr ito ri es Minor industrial groups Minor industrial g roup s
Major and dustrial Major in- Te r ritorie5
t
minor dustrial dustrial
Item groups by
industrial groups by By minor By major groups by BY BY By Consolidated Not consolidated
coo
net in- By tot
tal States minor In
groups in and States indus- indus- total In major 1933 1933
icit and Ter- trial trial aggregate
asse a and indus- indus- aggregate
aggregate Z assets classes
ritories groups Terri- trial trial 1934 in By 1934
classes groups classes
tories groups groups ustry aggregate industry
INGCME AND TAX S%LhRY-Continued

53 Normal tax .................................. 1936-37 193137 1936-37
19 1936 1936-37 1941 ... ...
1941 ... ... ... 53
1-92 "32 1
192E-35 1934t 3 31
54 Income tax .................................. 1938-4, 1926-35 1926-35 193~~113 19 1:4.
1931 1942-51;53-54 1942-51;53-54 ... ... 1932-33 1934
1942-51;53- 1934 1933 1934 54
1942-51;53-54
55 Surtax (on =distributed profits for 1936- 36-37 1936-37 1 1936-37
37) f 1941 1941 1936 1936-37 1941 ... ... ... ... ... ... ...
1941 ... ... ... 55
56 Declared
- value excess-profits tax ........... 1933-45 1934-43 1933-36 1933-37 1938-41 1933-45 1942-45 1942-45 1933 1934 1934
940-46 1933 1934 56
57 Excess profits tax ......................... 1941-43 1940-46 1 4 2- 46 1 1942-46
~ 1950-5 1;53-54
1 ... 1940-41 ...
1950-51 t l950-51;53-54 950-5119;53-54 950-51;53-1 ... ... ... ... ... 57
192-33
58 Total t. ............................. 1926-51;53-.154 1936-43 1926-36 1926-37 1938-41 1931-51;53-54 1942-51;53-54 1942-51;53-54 ... ... 1932-33 1934 1934 1933 1934 58
1950-51
RETURNS WITH EXCESS PROFITS TAX LIABILITY
59 Number of returns .................. 1943-45 1943-45 1943-45

. .. ... ... 1943-45
1950-51;53 1950-51;53 1950-51;53 ... ... ... ... 59
60 Same items as 2-58 and 67-107 for 1943- 1950-51;53
1943-45 ... ... ... ... 1943-45 1943-45
45. 1943-45 ... ... ... ... ... 60
61 Excess profits net income ............... ... ... ... 1944 1944 1944
1950-51
1~44
53 1950-5 ;53 1950-51;53 ... ... ... 61
1950-51;53
62 Excess profits credit ................... 44 1944 44 1944 ... ... ...
1950-5l;53
i4 ... ... 1950-51
1 ;53 1950-5 1;53
19 1950-51;53 ... ... ... 62
65 Unused excess profits credit adjustment. 1951;53 ... ... ... ... 1951;53 1951;53 1951;53 ... ... ... ... ... ... ... 63
64 Adjusted exceas profits net income 19" 44 1944 194
(Form 1121 or Schdule EP 1950-51;53 ... ... ... ... 64
... 1910-51;53
19 1950-51;53 1950-51;534 ... ... ... ... ...
65 Income tax ....................... 1943-45 943-45 1943-45
...... 1943-45
1950-51;53 1950-51;53
1 1950-51;53 ... ... ... 65
1950-51;53
66 Excess profits tax ...................... 43-45 1943-45
* 943-45 1943-45
950
19-51;53 1950-51;53 ... ... ... ... ... 66
1950-51;53
1 1950-51;53
DIVIDENDS PAID
67 Dividends paid in cash and assets other than
1926-51;53-54 1950-51 1926-37 1926-37 1938-41 1931-51;53-54 1942-51 ; 53-54 1942-51 ; 53 - 54 ... ...
own stock. ... 1932-33 1934 19.34 1933 1934 67
68 Dividends paid in corporation's own stock... 1926-51;53-54 ... 1926-36 1926-37 1938-41 1931-51;53-54 1942-51;53-54 1942-51;53-54 ... ... ... 1932-33 1934 1934 1933 1934 68
ASSETS
69 Cash ... ... ... ... 1931-51;53-54 1930-51;53-54 1942-51;53-54 1931-36 1931-37 1938-41 1932-33
70 Note. counts receivable less reserve.. ... ... 1934 1934 1933 1934 69
... ... ... 1931-43 1930-43 1942-43 1931-36 1931-37 1938-41 1932-33
71 Notea and accounts receivable .... ........... ... . 1934 1934 1933 1934 70
... ... ... ... 1944-51;53-54 1944-51;53-54 1944-51;53-54 ... ... ... ...
72 Less: Reserve for bad debts ............ ... ... ... ... 71
... ... ... ... 1944-51;53-54 1944-51;53-54 1944-51;53-54 ... ...
73 Prepaid
Inventories ........ ......................... ... .:: 72
... ... ... ... 1931-51;53-54 1930-51;53-54 1942-51;53-54 1931-36 1931-37 1938-41 1932-33
74 expenses and supplies ... ............ ... 193~ 1934
* * 1933 1934 73
... ... ... ... 1954 1954 1954 ... ... ... ... ... 74
75 Investments, Government obligations (tax- ... ... ... ... 1931-51;53 1930-51;53 1942-51;53 1931-36 1931-37 1938-41 1932-33 1934 1934 1933 1934 75
exempt investments 1926-36).
76 Investments, Government obligations-States, ... ... . .. ... ... 1954 1954 1954 ... ... ...
Territories and United States possessions ... ... ... ... ...
77 Inves
States
tm,nts, 6overnment obligations-United ... .
... ... ... ... 1954 1954 1954 ... ... ...
obligations. ... ... ... ... ...
78 Investments Government obligations-not ...
stated. ' 1954 1954 1954 ... ... ... ... ... ...
79 Other investments ........................... ... ... ... ... 1931-51;53-54 1930-51;53-54 1942-51;53-54 1931-36 1931-37 1938-41 1932-33 1934 1934 1933 1934
'apital assets -land, buildings, equipment:
Lesa depreciation ........... ... ... ... 1931-33 1930-33 1931-33 1931-33 ... 1932-33
Less depreciation and depletion.. ..... ... 1933
... ... 1934-39 19.34-39 ... 1934-36 1934-37 1938-39 ...
IIms apital assets (except land) ......... . ... 1934
* ' * 1934 ... 1934
... ... ... 1940-51;53 1938-51;53 1942-51;53 ... ... 1940-41
leserves
a c ............... ..................... ... ... ... ... ... ...
... ... ... ... 1940-51;53 1938-51;53 1942-51;53 ... 1934-37 1940-41 ... ... ... ... . ..
)epreciable
Less assets .......................... ... ... ... ... ... 1954 1954 1954 ... ...
Accumulated anortizati n ......... ... ... ... ... ... ... ...
... ... ... 1954 1954 1954 ... ...
Less:: Accumulated depreciation ......... ... ... ... ... ... ... ...
... ... ... 1954 1954 1954 ... ... ...
)epletable assets ........................... ... ... ...
les Accumulated depletion ... 1954 1954 1954 ... ... ... ... ... ...
.nd.. a 1954 1954 1954 ... ... ... ...
......
Intang ible assets .......... 1940-51;53-54 1938-51;53-54 1942-51;53-54 1933-
-37 1940-41
... .........
ther assets ........... ........... : ......... 1954 1954 1954 ... ...
... ... ... 1931-51;53-54 1930-51;53-54 1942-51;53-54 1931-36 1931-37 1936 ."
41 1932-33
' ' 1934 1934 1933 1934
Total assets, total liabilities ....... ... ... ... ... 1931-51;53-54 1930-51;53-54 1942-51;53-54 1931-36 1931-37 1938-41 1932-33 1934 1934 1933 1934 C
CX1
Chart I.-DATA AVAILABLE IN THE SOURCE 1300K OF STATISTICS OF INCOME FROM CORPORATION RETURNS FOR THE YEARS 1926-51, 1953-54-C-9mad
For list of major and minor industrial groups, see chart III
ch classification data are shown (1) for returns with n,t income and (2) for returns without net income.
Returrs with balance sheets Consolidated returns

All returns
States and States and Minor industrial groups
Major in- Minor industrial groups Territories
Minor in- Territories Major in-
Major and 1 d
"t"" d.strial dustrial By BY In Consolidated Not consolidated
Item minor gr ups by By minor By major groups by 1933 1933
. groups by By total S ates minor major aggregate
industria com
net
o States i.du.- indus- total In
assets and - t dus- TtIndus-
g~ na j
9
group. I. d and Ter- trial trial assets aggregate V I933T Ily 111 in By 1934
an classes I rri rial u
trial
lal
aggregate defi
c In-t ritories groups groups classes industry industry aggregate industry
t ries groups groups
lasses
ci
LIABILITIES
1931-36 1931-36 1932-33 1934 1934 1933 1934 93
93 ... ... ... ... 1931-36 1930-36 ...
Bonded debt and mortgages ................... ...
... 1937 1938-41
or ... ... ... ... 94
... ... ... 1937-51;53-54 1937-51;53-54 1942-51;53-54
94 Accounts payable ............................ ... ...
Bonds, notes, mortgages payable: 1942-51;53-54 ... 1937 dus

'y
1938-41 ... ... ... ... 9f
... ... ... . . . 1937-51;53-54 1937-51;53-54
95 Maturity less than 1 year ............... ... 1937 1938-41 ... ... ... ... ... 9E
... .. . ... 1937-51;53-54 1937-51;53-54 1942-51;53-54
96 Maturity 1 year or more................. ... ...
1931-36 1930-36 ... 1931-36 1931-36 1932-33 1934 1934 1933 1934 9,
97 Notes and accounts payable .................. ... ... ... ... ...
1954 1954 ... ... ... ... ... ... 9E
98 Reserves for estimated expenses ............. ... ... ... ... 1954
1954 1954 ... ... ... ... ... ... ... ... 9S
99 Prepaid income. ... ... ... ... 1954
1954 1954 ... ... ... loc
100 Accrued expense . :***
...........................
... - ... ** ......... *- ... ... ... ... ... 1954 1934 101
1930-51;53-54 1942-51;53-54 1931-36 1931-3, 1938-41 1932-33 1934 1934 1933
101 Other liabilities ........................... ... ... ... ... ... 1931-51;53-54
1931-36 1931-37 1938-41 1932-33 1934 1934 1933 1934 10;
... ... .. . 1931-51;53-54 1930-51;53-54 1942-51;53-54
102 Capital stock, preferred .................... ... ...
1931-36 1931-37 1938-41 1932-33 1934 1934 1933 1934 10-
... ... ... 1931-51;53-54 193G-51;53-54 1942-51;53-54
103 Capital stock, co-n....................... ... ...
... 1938-41 ... ... IN
... ... . .. 1938-51;53-54 1938-51;53-54 1942-51;53-54 ...
104 Surplus reserves.. .......................... ...
1931-37 1938-41 1932-33
**' 1934 1934 1933 1934 lO_'
... ... ... 1931-51;53 1930-51;53 1942-51;53 1931-36
105 Surplus and undivided profits ............... ... ...
1931-37 1938-41 1932-33 1934 1934 1933 1934 10(
... ... ... 1931-51;53 1930-51;53 1942-51;53 1931-36
106 Less: Deficit.. ........................ ... ... 101,
... ... 1954 1954 1954
107 Surplus and undivided profits (net) ......... ... ... ...
1
I I I
SOURCE BOOK, 1926-1951,1953-1954 177
Cbut H.-INDUSTRIAL GROUPS FOR WHICH DATA FROM CORPORATION RETURNS ARE SHOWN IN THE SOURCE BOOK OF STATISTICS OF INCOME, FOR THE YEARS 1926-51, 1953-54: YEARS FOR WHICH DATA
ARE AVAILABLE IN MAJOR GROUP TABLES AND YEARS FOR WHICH DATA ARE AVAILABLE IN MINOR GROUP TABLES
(For list of items available, see chart I)
Years for which Years f or which

data available in- data avai lable in-
Ind ustri a l gr oup Industrial group
Major group Minor group Major group Minor group
tables tables tables tables
1 Agriculture, forestry. and fishery ................... 1926-51;53-54 ... 70 Rayon and other synthetic textile-mill manufactures. ... 1938-40
71 Rayon and silk manufactures ......................... ... 1941-47
2 Fa=s and agricultural services ...................... 1938-51;53-54 ... 72 Yam and thread (cotton, wool, silk, and synthetic
3 Farming-Fruit, cotton, grain, stock, and all other fiber) ............................................ ... 1948-51;53-54
farming, including lessors ......................... 1926-37 73 Broadwoven fabrics (woolen and worsted) ............. ... 1946-51;53-54
4 Forestry .................................. 1938-51;53-54
.. ... 74 Broadwoven fabrics (cotton) ......................... ... 1948-51;53-54
5 Fishery ................................... 1938-51;53-54 ... 75 Narrow fabrics and other smallwares (cotton, wool,
6 Related industries-Forestry, fishing, ice harvest- silk, and synthetic fiber) ........................ ... 1948-51;53-54
ing, agricultural industries, not precisely defined; 76 Knit goods .......................................... ... 1926-51;53-54
holders and lessors ................................ 1926-37 77 Hats, except cloth and millinery (included in No. 84
7 Agriculture, forestry, and fishery not allocable. .... 1;~8* ... for 1926-37) ...................................... ... 1938-51;53-54
78 Carpets and other floor coverings (wool carpets in-
8 Mining and quarrying ................................. 1926-51;53-54 ... eluded in No. 68 for 1926) ........................ ... 1927-51;53-54
79 Dyeing I and finishing textiles, except woolen and
9 Metal mining ......................................... 1938-51;53-54 1926-37 worsted ........................................... ... 1938-47
10 lron ................................................. ... 1938-51;53-54 80 Dyeing and finishing textiles, except knit goods .... ... 1948-51;53-54
11 Copper ............................................... ... 1938-47 81 Textiles not elsewhere claasified-Cord, felt, fur,
12 Lead and zinc ........................................ ... 1938-47 hospital and surgical supplies, linen, other tex-
13 Gold and silver ...................................... 1938-47 tiles, etc ....... ... 1926-37
14 Copper, lead, zinc, gold, silver ..................... 1948-51;53-54 82 Other textile-ill products ... 1938-51;53-54
15 Other metal mining ................................... ... 1938-51;53-54 83 Textile-mill products not allocable ................. ... 1938-51;53-54
16 Metal mining not allocable (included in No. 15 for
1948-51;53-54) ..................................... ... 1938-47 84 Apparel and products made from fabrics .............. 1936-51;53-54 1926-35
85 Men's clothing ...................................... ... 1938-51;53-54
17 Coal mining.-Anthracite, bituminous, peat, coke ...... 1926-27 86 Women's clothing. ................................... ... 1938-51;53-54
18 Anthracite ........................................... 1938-51;53-54
... 1928-37 87 Fur goods ........................................... ... 1936-51;53-54
19 Bituminous coal and lignite (includes peat for 1928- 88 Millinery.. ......................................... ... 1936-51;53-54
47; see No. 26) .................................... 1938-51;53-54 1928-37 89 Other apparel and products made from fabrics ........ ... 1938-47
90 Other apparel and accessories ....................... ... 1948-51;53-54
20 Crude petroleum And natural gas production ........... 1938-51;53-54 ... 91 Other fabricated textile products ................... ... 1948-51;53-54
21 Crude patrols=, natural gas and natural gasoline 92 Apparel and products made from fabrics not allocable ... 1938-51;53-54
production (Oil and gas for 1926-37) ............... ... 1926-51;53-54
22 Oil- and gas-field service operations ................ ... 1938-.51;53-54 93 Lumber and wood products (Forest products) .......... 1926-37 ...
94 Sawmill and planing mill products ................... ... 1926-37
23 Nonmetallic mining and.quarrying ..................... 1938-51;53-54 ... 95 Other wood products-Carriages, wagons, furniture,
24 Quarrying-Asbestos, stone, clay, sand, gravel, baskets, etc ...................................... ... 1926-37
precious and semiprecious stones, salt mines, etc., 96 Lumber and wood (timber basic) products, except
(includes lessors and holders for 1926) ............ ... 1926-37 furniture ......................................... 1938-51;53-54 ...
25 Stone, sand, and gravel .............................. ... 1938-51;53-54 97 Logging (camps) and sawmills ........................ ... 1938-47
26 Other mining and quarrying (nonmetallic) (includes 98 Planing mills ....................................... ... 1938-47
peat for 1948-51;53-54) ............ ... 1938-51;53-54 99 Logging camps, logging contractors, sawmills, and
27 Nonmetallic mining and quarrying not alloc. bla- ~ in-
-- planing mills ..................................... ... 1948-51;53-54
cluded in No. 26 for 19/,8-51;53-54) ................ ... 1938-47 100 Millwork, plywood, and prefabricated wood products.. ... 1948-51;53-54
28 Mining and quarrying not elsewhere classified, les- 101 Wooden containers (Furniture and finished lumber
sors and holders ................................... ... 1926-37 products for 1938-47) ............................. ... 1938-51;53-54
102 Lumber and timber basic products not allocable ...... ... 1938-39
29 Mining and quarrying not alJocable (included in No. 103 Other wood products ................................. ... 1948-51;53-54
26 for 1948-51;53-54) .............................. 1938-47 ...
104 FuMi
( ure and fixtures (finished lumber products)
30 Con struction ......................................... 1926-51;53-54 ... Seet No. 93 for 1926-37) .......................... 1938-51;53-54 ...
31 Building and construction above ground, including 105 Furni ture (wood and metal)-Household, office, pub-
equipping and installing machinery, wrecking, raz- lic building, and professional ..................... ... 1938-51;53-54
, cor moving, at ................................. ... 1926-37 106 Partitions, shelving, lockers; and office and store
32 Other
ing onstruction underground or on surface-Bridge fixtures .......................................... ... 1938-51;53-54
building~ waterfront construction, related indus- 107 Matches (included in No. 267 for 1948-51;53-54) ..... ... 1938-47
tries, etc., (includes shipbuilding for 1926, see 108 Window and door screens, shades and venetian blinds
No, 241 for 1927-51;53-54) ......................... ... 1926-37 (included in No. 109 for 1938-47) ................. ... 1948-51;53-54
33 General contractors .................................. ... lq38-47 109 Other finished lumber products; cork products ....... ... 1938-47
34 General building contractors ......................... ... 1948-51;53-54 110 Other furniture and fixtures ........................ ... 1948-51;53-54
35 General contractors other than building .............. ... 1948-51;53-54 ill Furniture and finished lumber products not allocable
36 General contractors not allocable. ................... ... 1948-51;53-54 (included in No. 110 for 1948-51;53-54) ............. ... 1938-47
37 Special trade contractors ............................ ... 1938-51;53-54
38 Other construction (not allocable) ................... ... 1938-51;53-54 112 Paper and allied products ........................... 1926-51;53-54 ...
113 Pulp, paper, and paperboard ......................... ... 1938-51;53-54
39 Manufacturing ........................................ 1926-51;53-54 ... 114 Pulp goods and converted paper products ............. ... 1938-47
115 Paper bags and paperboard containers and boxes ...... ... 1948-51;53-54
40 Food products, beverages, and tobacco ................ 1926-30 ... 116 Pulp goods and other converted paper products ........ ... 1948-51;53-54
41 Food products, including beverages ................... 1931-32 ... 117 Paper and products not allocable (included in No.
42 Food and kindred products ............................ 1933-51;53-54 ... 116 for 1948-51;53-54) ............................ ... 1938-47
43 Bakery and confectionery products .................... ... 1926-37
" Bakery products ...................................... ... 118 Printing, publishing, and nllizd industries ......... 1926-51;53-54 ...
1938-51;53-54
45 Confectionery ........................................ ... 119 Newspapers .......................................... ... 1938-51;53-54
1938-51;53-54
46 Canning fruits, vegetables, and Seafoods (included in 120 Periodicals ......................................... ... 1938-51;53-54
No. 52 for 1926) ................................... ... 1927-51;53-54 121 Books ............................................... 938-39
...
47 Meat products ........................................ ... 1926-5 ;53-54 1 1948-5 1;53-54
1
48 Grain mill products, except cereal preparations ...... ... 1926-51;53-54 122 Books and music ..................................... ... 1940-47
49 Cereal preparations (included in No. 52 for 1926-37). ... 1938-51,53-54 123 Commercial printing, including lithographing ........ ... 1938-51;53-54
50 Dairy products (included in No. 52 for 1926-37) ...... ... 1938-51;53-54 124 Other printing and publishing ....................... ... 1938-51;53-54
51 Sugar ................................................ ... 1926-51,53-54 125 Printing, publishing, and allied industries not
52 Other food products (includes No. 54 for 1926) ....... ... 1926-51;53-54 allocable ......................................... ... 1938-51;53-54
53 Food and kindred products not allocable (included in
126 Chemicals Arid allied products ....................... 1926-51;53-54 ...
No. 52 for 1926-37) ................................ ... 1938-52;53-54 127 Industrial chemicals ................................ ... 1938-47
128 Chemicals proper, acids, compounds, etc ............. ... 1927-37
54 Bevera ges ............................................ 1933-51;53-54 ... 129 1 dustrial inorganic chemicals ...................... ... 1948-51;53-54
55 Soft drinks, wine, cereal beverages , mineral water , 130 Industrial organic chemicals, including plastic
brewing and distilling ...................... .. ... .. ... 1927-32 materials, synthetic rubber, and synthetic fibers. ... 1948-51;53-54
56 Soft drinks, cider or mineral water , etc ............. ... 1933-37 131 Allied chemical substances-Drugs, oils, paints,
57 Liquors-Wines, beer, =it extract, malt yeast ,
soaps, and other chemical substances not elsewhere
alcohol ..................................... .. ... .. 1933-37 classified ........................................ ... 1927-37
58 Malt (breweries) and malt products ................... ... 1938-51;53-54 132 Paints, varnishes, lacquers, etc .................... ... 1934-51;53-54
59 Distilleries, rectifiers, blenders ................... ... 1938-51;53-54 133 Soap and glycerin ................................... ... 1938-51;53-54
50 Wine .................................................. ... 1938-51;53-54 134 Drugs, toilet preparations, etc.. ................... ... 1938-47
51 Nonalcoholic bevera ges ............................... ... 1938-51;53-54 135 Drugs and medicines ................................. ... 1948-51;53-54
S2 Beverages not allocable (included in No . 61 for
136 Perfumes, cosmetics, and other toilet preparations.. ... 1948-51;53-54
1948-51;53-54) ..... ... .. ........................... ... 1938- 47 137 Oils and fats, animal and vegetable, except edible
cooking oils.. .................................... ... 1938-51;53-54
53 Tobacco manufacture .................................. 1931-51;53-54 1926-30 138 Rayon (raw material) and allied products (included
54 Cigars ............................................... ... 1948-51;53-54 in No. 130 for 1948-51;53-54) ..................... ... 1938-47
55 Other tobacco manufactures ........................... ... 1948-51;53-54 139 Fertilizers ................................. ... 1927-51;53-54
140 Plastic materials (included in No. 130 for 1 8-51;
56. Textile-mill products (excludes No. 67 for 1941-47).. 1926-51;53-54 53-54) .................................... ... 1938-47
57 Cotton manufactures.. ................................ 1941-47 1926-40
... 141 Other chemical products ............................. ... 1938-51;53-54
58 Woolen and worsted manufactures, including dyeing and
142 Chemicals and allied products not allocable ......... ... 1938-51;53-54
finishing (includes wool carpets for .1926) ......... ... 1926-47 143 Chemical products (except Petroleum and mineral oil
59 Silk manufactures (includes rayon goods for 1926-37). ... 1926-40 refining) ......................................... ... 1926
178 SOURCE BOOK, 1926-1951,1953-1954
Chart U.-INDIISTRIAL GROUPS FOR WHICH DATA FROM CORPORATION RETURNS ARE SHOWN IN THE SOURCE BOOK OF STATISTICS OF INCOME, FOR THE YEARS 1925-51, 1953-54: YEARS FOR WHICH DATA
ARE AVAILABLE IN MAJOR GROUP TABLES AND YEARS FOR WHICH DATA ARE AVAILABLE IN MINOR GROUP TABLES--Continued
[For list of items available, see chart 11
Years for which Years for which

data avail able in- data available in-
I nd us t ri a l group Industrial group
tables tables tables tables
14.4 Petroleum and coal products ........................... 1938-51;53-54 ... 209 Radios, complete or parts (All other manufacturing). ... 1927-37
145 Petroleum and other mineral oil products .............. 1936-37 1926-35 210 Radio apparatus and phonographs ..................... ... 1938-39
146 Petroleum refining ..................... :: ............. ... 1938-51;53-54 211 Communication equipment and phonographs ............. ... 1940-47
147 Other patrols= and coal products ...... . ............ ... 1938-51;53-54 212 Radio, radar, and television equipment (except radio
148 Patrols= and coal products not allocable (included tubes), and phonographs ........................... ... 1948-51;53-54
in No. 147 for 1948-51;53-54).. ..................... ... 1938-47 213 Other communication equipment and related products.. ... 1948-51;53-54
214 Electrical (household) appliances ................... ... 1938-51;53-54
149 Rubber products ....................................... 1926-51;53-54 ... 215 Insulated wire and cable (included in No. 207 for
150 Tires (auto) " (inner) tubes ........................ ... 1926-51;53-54 1940-47) .......................................... ... 1948-51;53-54
151 Other rubber products. ................................ ... 1926-51;53-54 216 Electric lamps (included in No. 217 for 1938-39; No.
152 Bone, celluloid, and Ivory products (included in No. 218 for 1940-47) .................................. ... 1948-51;53-54
151 for 1926; bone and Ivory products in No. 266 for 217 Other electrical machinery .......................... ... 1938-39
1938-49; celluloid in No. 140 for 1938-47, and No. 218 Other electrical machinery and equipment ............ ... 1940-47
130 for 1948-51;53-54) .............................. ... 1927-37 219 Other electrical products, including batteries ...... ... 1948-51;53-54
153 Rubber products not allocable (included in No. 151 for 220 Electrical machinery and equipment not allocable. ... ... 1938-51;53-54
1926-37, and 1940-51;53-54) ......................... ... 1938-39
221 Machinery, except transportation equipment and elec-
154 Stone. clay, and glass products ....................... 1926-51;53-54 ... t,ic.1 ........................................... 1938-51;53-54 ...
155 Cut-stone and stone products .......................... ... 1938-51;53-54 222 Special industry machinery .......................... ... 1938-51;53-54
156 Structural clay products .............................. ... 1938-51;53-54 223 General industry machinery .......................... ... 1938-51;53-54
157 Pottery and related products .......................... ... 1938-51;53-54 224 Metalworking machinery, including machine tools ..... ... 1938-51;53-54
158 Glass mid glass products .............................. ... 1938-51;53-54 225 Engines and turbines, except automotive, aircraft,
159 Cement (hydraulic) .................................... ... 1938-51;53-54 and railway ....................................... ... 1938-51;53-54
160 Concrete, gypsum, and plaster products ................ ... 1938-51;53-54 226 Construction and mining machinery ................... ... 1938-51;53-54
161 Abrasives, asbestos, and other nonmetallic mineral 227 Agricultural machinery and tractors ................. ... 1926-51;53-54
products ............................................ ... 1938-51;53-54 228 Office equipment, etc., (included in No. 234 for 1926) ... 1927-3?
162 Stone, clay, and glass products not allocable (in- 229 Office and store machines ........................... ... 1938-51;53-54
cluded in No. 161 for 1948-51;53-54) ................ ... 1938-47 230 Household machinery and equipment ................... ... 1926-37
231 Household and service-industry machines ............. ... 1938-51;53-54
163 Leather arxi products ................................. 1926-51;53-54 - 232 Other machinery parts and machine shops (included in
164 Footwear, except rubber ............................... ... 1926-51;53-54
"* No. 223 for 1938-47) .............................. 1948-51;53-54
165 Leather, tanned, -ried, and finished (included in 233 Factory machinery-Food production machinery,
No. 166 for 1926-37) ................................ ... 1938-51;53-54 leather, metal, paper, printing, textile, and
166 Other leather products ................................ ... 1926-51;53-54 woodworking machinery ............................. ... 1926-3,
167 Leather and products not allocable (included in No. 234 Miscellaneous machinery-Building, construction,
166 for 1926-37, 1948-51;53-54) ..................... ... 1938-47 gas, mining machinery and equipment ............... ... 1926-35,
235 Machinery, except transportation equipment and elec-
168 Metal manufacture (products and pro2esses) ............ 1926-37 ... trical, not allocable ............................. ... 1938-51;53-54
169 Iron, steel, and products ............................. 1938-47 ...
170 Primary metal industries .............................. 1948-51;53-54 ... 236 Transportation equipment, except motor vehicles .... 1938-51;53-54 ...
171 Blast furnaces, steelworks, and rolling mills (in- 237 Railroad equipment, including locomotives and
cludes foundries for 1926-37, for locomotives, see treetcars ........................................ ... 1926-51;53-54
No. 237) ............................................ ... 1926-51;53-54 238 Airplanes
8 (included in No. 258 for 1926; No. 260 for
172 Metal building material and supplies (equipment) .... ... 1926-37 1927) ............................................. ... ...
173 Fabricated structural metal products ................ ... 1938-51;53-54 239 Aircraft and parts, including aircraft engines ...... ... 1928-51;53-54
174 Heating apparatus, except electrical and plumbers' 240 Shipbuilding (included in No. 32 for 1926) .......... ...
supplies. ........................................... ... 1938-51;53-54 241 Ship and bostbuilding and repairing ................. ... 1927-51;53-51
175 Tin cans and other tinware ............................ ... 1938-51;53-54 242 Motorcycles, bicycles, and parts .................... ... 1938-51;53-5A
176 Hardware, tools, etc .................................. ... 1927-37 243 Other transportation equipment, except motor vehicles ... 1938-51;53-54
177 Handtools and general hardware ........................ ... 1938-39 244 Transportation equipment, except automobiles, not
178 Cutlery, bandtools, and general hardware .............. ... 1940-51;53-54 allocable ......................................... ... 1938-41,
(Nos. 173, 174, 175~ and 178 tabulated under I-Fabri-
cated metal products, except ordnance, machinery, 245 Motor vehicles and equipment, except electrical ..... 1936-51;53-54 1926-3!
and transportation equipment" for 1948-51;53-54). 246 Motor vehicles, including bodies and truck trailers
179 Firearms , guns, howitzers, mortars, and related equip- (for tanks, see No. 181 for 1942-47) .............. ... 1938-51;53-5~
ment (see No. 252 for 1948-51;53-54) ................ ... 1942-47 247 Automobile accessories and parts, other than elec-
180 Ammunition (see No. 253 for 1948-51;53-54) ............ ... 1942-47 trical ............................................ ... 1938-3~
181 Tanks (included in No. 254 for 1948-51;53-54) ......... ... 1942-47 248 Trailers for passenger cars ......................... ... 1938-3~
182 Sighting and fire-control equipment (except optical) 249 Motor vehicles (automobile) parts and accessories,
(included in No. 254 for 1948-51;53-54) ............. ... 1942-47 and passenger trailers ............................ ... 1940-51;53-5~
183 Ordnance and accessories not elsewhere classified (in- 250 Automobiles and equipment, except electrical, not
cluded in No, 254 for 1948-51;53-54) ................. ... 1942-47 allocable (included in No. 249 for 1948-51;53-54). ... 1938-4,
la4 Iron and steel foundries (included in No. 185 for
1938-47) ............................................ ... 1948-51;53-54 251 Ordnance and accessories ........................... 1948-51;53-54
185 Other iron, steel, and products ....................... ... 1938-47 252 G=s, howitzers, mortars, and related equipment, in-
186 Other primary metal industries ........................ ... 1948-51;53-54 cluding small arms (see No. 179 for 1942-47) ...... ... 1948-51;53-51
187 Iron, steel, and products not allocable ............... ... 1938-47 253 Small arms animunition (see No. 180 for 1942-47) ..... ... 1948-51;53-5,
188 Primary metal industries not allocable ................ ... 1948-51;53-54 254 Other ordnance and accessories (see Nos. 180-183 for
1942-47) .......................................... ... 1948-51;53-5,
189 Fabricated metal products, except ordnance, machinery~
and transportation equipment ..................... 1948-51;53-54 ... 255 Scientific instruments; . photographic equipment;
190 Metal stamping, coating, and engraving ............. ... 1948-51;53-54 watches, clock .................................... 1948-51;53-54
191 Lighting fixtures ..................................... ... 1948-51;53-54 256 Professional, scientific, and controlling instru-
192 Fabricated wire products .............................. ... 1948-51;53-54 ents, including photographic and optical goods ... ... 1948-51;53-5,
193 Other fabricated metal products ....................... ... 1948-51;53-54 257 Watches, clocks, and clockwork-operated device. (see
194 Fabricated metal products not allocable ............... ... 1948-51;53-54 No. 197 for 1938-47) .............................. ... 1948-51;53-5d
195 Metal and metal products, other than iron and steel;
refining of precious metals, manufacturing jewelry, 258 All other m.nufacturing-Airplanes,optical products,
etc ................................................. ... 1926 musical instruments, metal processes, etc ......... 1926
1% Precious metal products and processes, jewlry,ete .... ... 1927-37 259 Miscellaneous manufacturing ......................... 1927-37
197 Clocks and watches (see No. 257 for 1948-51;53-54) .... ... 1938-47 260 Airplanes, musical instruments, optical goods, ca-
198 Jewelry (except costume), silverware, plated were (see noes, manufacturing not elsewhere specified ....... ... 192'
No. 264 for 1948-51;53-54) (Silverware and plated 261 Musical instruments, optical goods, canoes, etc ..... ... 1928-3'
were included in No. 204 for 1938-39; No. 196 for 262 Other manufacturing ................................. 1938-51;53-54
1927-37; No. 195 for 1926) .......................... ... 1938-47 263 Ice, natural or manufactured (included In No. 52 for
199 Other metal products and processes; combinations of 1926-37; 1940-51;53-54) ........................... ... 1938-31
foundry and machine shops ........................... ... 1927-37 264 Jewelry (precious metal), silverware, plated ~e
(see No. 198 for 1940-47) ......................... ... 1948-51;53-5,
200 Nonferrous metals and their products .................. 1938-47 ... 265 Costume jewelry, except precious metal (included in
201 Nonferrous metal basic products ....................... ... 1938-47 No. 262 for 1938-47) .............................. ... 1948-51;53-5,
202 Smelting, refining, rolling, drawing, and alloying of 266 Fabricated plastic products, except plastic mate-
nonferrous metals (Primary metal industries) ........ ... 1948-51;53-54 rials (included in No. 262 for 1938-47) ........... ... 1948-51;53-5,
203 Nonferrous foundries (Primary metal industries) ....... ... 1948-51;53-54 267 Manufacturing not elsewhere classified (included in
9 38 - 31
2G4 Other manufactures of nonferrous metals and their No. 262 for 1940-47) .............................. ...
1 1948-511 ;53-5,
alloys .............................................. ... 1938-47
205 Nonferrous metals and their products not allocable .... ... 1938-47 268 Manufacturing not allocable (included in No. 267 for
1948-51;53-54) .................................... 1938-47
206 Electrical machinery and equipment (Metal manufactur-
ing, 1926-37) ....................................... 1938-51;53-54 1926-37 269 Public utilities (Transportation and other public
207 Electrical generating, transmission, distribution, and utilities) ........................................ 1926-51;53-54
industrial apparatus (Wire and cable in No. 217 for 270 Transportation and related activities (subgroup
1938-39) ............................................ ... 1938-51;53-54 total, 1927-37).
208 Electrical equipment for motor vehicles, aircraft, and 271 Tr portation ...................................... 1938-51;53-54
railway locomotives and cars ........................ ... 1938-51;53-54 272 Stanws railroads ..................................... ... 1926-3'
SOURCE BOOK, 1926-1951, 1953-1954 179
Chart 11,4NDUSTRIAL GROUPS FOR WHICH DATA FROM CORPORATION RETURNS ARE SHOWN IN THE SOURCE BOOK OF STATISTICS OF INCOME, FOR THE YEARS 1926-51, 1953-54: YEARS FORWHICH DATA
ARE AVAILABLE IN MAJOR GROUP TABLES AND YEARS FOR WHICH DATA ARE AVAILABLE IN MINOR GROUP TABLES-C..tinued
(For list of items available, see chart I]
Years for which Years fo r which

data avail able in- data avail able in-
Industrial group Industrial group
tables tables table. tables
273 Railroads, switching, terminal, sleeping and dining 344 Filling stations ..................................... 1938-47 1948-51;53-54
car companies (passenger car service companies) ..... ... 1938-47 345 Building materials, fuel and ice (Lumber and coal
274 Railroads, railway express ............................ ... 1948-51;53-54 yards, 1938-39) ("Fuel and ice" included in No. 349
275 Railway express (included in No. 274 for 1948-51;53- for 1938-39 and 1948-51;53-54) ..................... 1938-47
54) ................................................. ... 1938-47 346 Building materials and hardware ....................... 1948-51;53-54 ...
276 Electric railways, all other railroads; pullman cars~ 347 Hardware ( and farm equipment), retail ................ 1938-47 1948-51;53-54
refrigerator, stock, poultry and fruit cars; les- 348 Lumber and building materials ........................ ... 1948-51;53-54
sors ................................................ ... 1926-37 349 Other retail trade ................................... 1938-51;53-54 ...
277 Urban, suburban, and interurban railways, with or 350 Other retail stores (included in No. 349 for 1938-47) ... 1948-51;53-54
without buses ....................................... ... 1938-51;53-54 351 Retail stores not allocable .......................... 1938-47 1948-51;53-54
278 Local transportation, taxicab, and sightseeing buses, 352 Jewelry stores (included in No. 329 for 1926-27; No.
drayage and delivery service; special feed storage 349 for 1938-47; No. 350 for 1948) ................. ... 1949-51;53-54
and packers, garages, etc .......... ... 1926 353 Wholesale and retail trade ........................... ... 1927-37
:-
279 Autobus lines, taxicabs, and sightsee ing companies .... ... 1927-37
280 Buslines, interstate and interurban ................... ... 1938-39 354 All other trade, auto wreckers, film exchanges, pneu-
281 Taxicab companies (included in No. 283 for 1948-51;53- matic tubes, trading stamps, garages for storage,
54) ................................................. ... 1938-47 repair service, etc ................................ ... 1926-37
282 Other highway passenger transportation ................ ... 1940-47
283 Other motor vehicle transportation, including taxicabs 355 Trade not allocable .................................. 1938-51;53-54 ...
and buses ........................................... ... 1948-51;53-54
284 Cartage and storage-Food storage; packing and ship- 356 Finance, insurance, real estate, and lessors of real
ping; local transportation and related industries property (excludes lessors of real property prior
not elsewhere classified (specified) ................ ... 1927-37 to 1938) ............................................ 1926-51;53-54 ...
285 Trucking, interstate and interurban ................... ... 1938-39 357 Finance (subgroup total, 1940-51;53-54).
286 Trucking, local; and warehousing ...................... ... 1938-39 358 Banking and related industries (subgroup total, 1927-
287 Trucking and warehousing .............................. ... 1940-51;53-54 37).
288 Air (aerial) transportation (and allied services, 359 National banks ....................................... 1926-37
1938-51;53-54) (included in No. 307 for 1926) ....... ... 1927-51;53-54 360 Banks and trust companies ............................ 1938-51;53-54 ...
289 Pipelines (pipeline transportation) (included in No. 361 State and private banks .............................. ... 1926
307 for 1926; No. 309 for 1927-33) .................. ... 1934-51;53-54 362 State and private banks, savings banks, loan and
290 Water transportation .................................. ... 1926-51;53-54 trust companies .................................... ... 1927-37
291 Other transportation and allied services .............. ... 1938-39 363 Bank and trust companies, savings banks .............. ... 1926
292 Services incidental to transportation. ................ ... 1940-51;53-54 364 Joint stock land banks.. ............................. ... 1928-37
293 Transportation not allocable (included in No. 294 for 365 Banks and trust companies other than mutual savings
1948-51;53-54) ...................................... ... 1938-47 banks .............................................. ... 1953-54
294 Other transportation .................................. ... 1948-51;53-54 366 Mutual savings banks ................................. ... 1953-54
367 Financing companies-Automobiles, furniture, radios,
295 Communication ......................................... 1938-51;53-54 ... pianos, etc. (included in No. 405 for 1930-37) .... ... 1926-29
296 Telephone, telegraph, and radio companies ............. ... 1926 368 Commercial credit and finance companies .............. 1938-39 ...
297 Telephone and telegraph companies ..................... ... 1927-37 369 Industrial and personal loan companies ............... 1938-39 ...
298 Telephone (wire or radio) ............................. ... 1938-51;53-54
299 Telegraph (wire and radio) ............................ ... 1938-51;53-54 370 Short-term credit agencies, except banks ............. 1940-47 ...
300 Radio broadcasting and television (includes television 371 Sales finance and industrial credit (installment
for 1940 and subsequent years) ...................... ... 1927-51;53-54 sales finance companies in No. 373 for 1948-51;53-54). ... 1940-47
301 Other communication ..................... ............. ... 1938-51;53-54 372 Personal credit ...................................... ... 1940-47
373 Personal credit agencies (see No. 371) ............... ... 1948-51;53-54
302 Other public utilities (subgroup total, 1927-37).. .... 1938-51;53-54 ... 374 Other short-term credit agencies ..................... ... 1940-47
303 Electric and gas utilities ............................ 1948-51;53-54 375 Short-term credit agencies, except banks, not allo-
304 Electric light and power .............................. ... **'
1926 cable .............................................. ... 1940-47
305 Electric light and power companies and combined elec-
tric light and gas companies ........................ ... 1927-51;53-54 376 Long-term credit agencies, mortgage companies, except
306 Gas distribution and manufacture ...................... ... 1926-51;53-54 banks (Mortgage and title companies, 1938-39) ...... 1938-47 ...
307 All other public utilities, aerial transportation, 377 Credit agencies other than banks ..................... 1948-51;53-54 ...
waterworks, irrigation systems, pipelines, pneumatic 378 Business credit agencies ............................. ... 1948-51;53-54
tube systems, toll bridges, etc ..................... 1926 379 Other credit agencies ................................ ... 1948-51;53-54
308 Water (companies) supply .............................. 1927-51;53-54 380 Credit agencies and finance not allocable ............ ... 1948-51;53-54
309 All other public utilities-Terminal stations, toll 381 Savings and loan, building and loan associations ..... ... 1953-54
bridges, a4d toll roads, irrigation systems , etc .... ... 1927-37
310 Public utilities not elsewhere classified ............. ... 1938-51;53-54 382 Investment trusts. stock syndicates, stock pools,
311 Other public utilities not allocable (included in No. holding companies, etc ............................. ... 1934-37
310 for 1948-51;53-54) .............................. ... 1938-47 383 Investment trusts and investment companies ........... 1938-47 ...
364 Holding and other investment companies ............... 1948-51;53-54 ...
312 T-d .................................................. 1926-51;53-54 ... 385 Management type ...................................... ... 1938-47
386 Fixed or semifixed type .............................. ... 1938-47
313 Wholesale ............................................. 1938-51;53-54 1926-37 387 Installment investment plans and guaranteed face
314 Commission merchants (included in No. 313 for 1938-39) 1940-51;53-54 1926-37 certificates. ... 1938-47
315 Other wholesalers ..................................... 1940-51;53-54 ... amount
388 Mineral, oil, and gas loyalty companies.. ...... ... 1938-47
316 Food (stores), wholesale .............................. ... 1940-51;53-54 389 Investment trusts and investment companies not allo-
317 Alcoholic beverages, wholesale ........................ ... 194G-51;53-54 cable .............................................. ... 1938-47
318 Apparel and dry goods, wholesale ...................... ... 1940-51;53-54
319 Chemicals, paints, and drugs, wholesale ............... ... 1940-51;53-54 390 Holding companies, real estate, patents, investments,
320 Hardware, electrical goods, plumbing and heating concessions, etc. (Holding companies included in
equipment, wholesale ................................ ... 1940-51;53-54 No. 419 for 1927-29; No. 405 for 1930-33; No. 382
321 Lumber, millwork, and construction materials, whole- for 1934-37) ....................................... 1926-28
sale ................................................ ... 1940-51;53-54 391 Holding companies .................................... 1938-39 1940-47
322 Machinery and equipment, wholesale (included in No. 392 Operating holding companies .......................... ... 1940-51;53-54
324 for 1940-47) .................................... ... 1948-51;53-54 393 Railroad securities. ................................. ... 1938-39
323 Farm products (raw materials), wholesale (included in 394 Other public utilities securities .................... ... 1938-39
No. 324 for 1940-47) ................................ ... 1948-51;53-54 395 Industrial securities ................................ ... 1938-39
324 Wholesalers not elsewhere classified .................. ... 1940-51;53-54 396 Bank securities ...................................... ... 1938-39
325 Wholesalers not allocable ............................. ... 1940-51;53-54 397 Other specified securities ........................... ... 1938-39
398 Securities not specified ....................... 1938-39
326 Retail ................................................ 1938-51;53-54 1926-37 399 Other corporations holding securities .......... 1938-* 3* 9* ...
327 General merchandise, department, dry goods,retail ..... 1938-39 -1940-47 400 Other investment companies, including holding com-
328 General merchandise, retail ........................... 1940-51;53-54 ... panies ............................................. 1940-47 ...
329 Department stores ..................................... ... 1948-51;53-54 401 Other investment and holding companies ............... ... 1948-51;53-54
330 Other general merchandise (included in No. 327 for
1938-47) ............................................ ... 1948-51;53-54 402 Stock and borwd brokers (includes investment bankers
331 (Limited-price) variety stores, retail ................ 1938-39 1940-51;53-54 for 1927-29) ....................................... ... 1926-29
332 Mail-order houses ..................................... 1938-39 1940-51;53-54 403 Stock and bond brokers, investment brokers, invest-
333 Food (stores), retail ................................. 1938-51;53-54 ... ment bankers (includes investment trusts for 1930-
334 (Package) liquor stores, retail ..... 1938-47 1948-51;53-54 33; see No. 382) ................................... 193G-37
335 Drug stores, retail ................. 1938-51;53-54 ... 404 Security and commodity-exchange brokers and dealers.. 1938-51;53-54 ...
336 Apparel and accessories, retail ....................... 1938-51;53-54 ... 405 Loan companies (other finance)-Building and loan as-
337 Furniture and housefurnishings, retail ................ 1938-51;53-54 ... sociations; mortgage, note, or pawnbrokers; holding
338 Eating and drinking places (including restaurants) .... 1938-51;53-54 ... companies (1930-33); insurance agents, promoters;
(Restaurants included in No. 443 for 1926-37) foreign exchange; financing sales of automobiles,
339 Automotive dealers, retail ............................ 1938-47 ... etc. (see No. 367 for 1926-29) (includes stock
340 Automotive dealers and filling stations, retail ....... 1948-51;53-54 ... syndicates for 1926-33; see No. 382) ........ 1926-37
341 Automobiles and trucks, retail ........................ ... 1938-51;53-54 406 Other finance companies ....................... 1938-' 4* 7* ...
342 Parts, accessories, tires, batteries, retail .......... ... 1938-51;53-54 407 Finance not allocable (included in No. 380 for 1948-
343 Dealers in automobiles, etc., not allocable ........... ... 1938-39 51;53-54) ......................................... 1940-47 ...
180 SOURCE BOOK, 1926-1951, 1953-1954
Cbart D.-INDusrRIAL GROUPS FOR WHICH DATA FROM CORPORATION RETURNS ARE SHOWN IN THE SOVRCEBOOK OF STATISTICS OF INCOME, FOR THE YEARS 192"1, 1953,54: YEARS FOR WHICHDATA
ARE AVAILABLE IN MAJOR GROUP TABLES AND YEARS FOR WHICH DATA ARE AVAILABLE IN MINOR GROUP TABLES--Continu*d
(For list of items available, see chart I]
Years for which Years for which

data avail able in- data available in-
Industrial group Industrial group
table. tables tables tables
408 Insurance companies (subgroup total, 1927-37). 442 Personal services ................................... 1938-51;53-54 ...
409 Insurance carriers and agents ........................ 1938-51;53-54 ... 443 Domestic service-Laundries, hotels, restaurants,
410 Insurance carriers ................................... 1940-51;53-54 ... operating apartments or office buildings, etc.
411 Insurance agents and brokers ......................... 1940-51;53-54 1938-39 (Restaurants included in No. 338 for 1938-51;0-54~ ... 1926-37
412 Life insurance companies ( mutual or stock) ........... ... 1926-51;53-54 444 Laundries, cleaners, " dyers ...................... ... 1938-51;53-54
413 Insurance companies, except life ..................... ... 1926-39 "5 Photographic studios (including commercial photc-
graphy) ........................................... ... 1938-51;53-54
414 Mutual insurance companies, except life .............. ... 1940-41
1942 Other personal service .............................. ... 1938-51;53-54
415 Mutual insurance companies, except life or marine .... ... 446
416 Mutual insurance, except life or marine or fire in- 447 Personal services not allocable (included in No. 446
for 1948-51;53-54) ................................ ... 1938-47
surance companies issuing perpetual policies ....... ... 1943-51;53-54
417 Other insurance carriers ............................. ... 1940-51;53-54
448 Business services -Detective bureaus, trade shows,
418 Real estate (included in No. 390 for 1926) ........... ... ... mimeographing, publishing directories, etc. (i-
419 Real estate and realty holding companies-Realty de- cludes electrical advertising) .............. 1927-37
velopment , holding or leasing; realty trusts, etc.. ... 1927-37 449 Business services ............................. 1938-51;53-54 ...
420 Real estate, except lessors of real property other 450 Advertising ......................................... ... 1938-51;53-54
than buildings ..................................... 1938-51;53-54 ... 451 Other business services .......................... ... 1938-51;53-54
421 Dealers and development companies, lessors of build- 452 Business services not allocable (included in No. 451
-
ings, lessee and owner operators of.buildings ...... ... 1938-39 for 1948-51;53-54) ................................ ... 1938-47
422 Real estate agents, brokers, and managers ............ ... 1938-51;53-54
423 Owner operators and lessors of buildings ............. ... 1940-47 453 Autoax,tive repair services and garages (see No. 354) . 1938-51;53-54 ...
424 Real estate operators, including lessors of buildings ... 1948-51;53-54
425 Lessee operators of buildings ........................ ... 1940-47 454 Miscellaneous repair services, hand trades .......... 1940-51;53-54
426 Owners for Improvement ............................... ... 1940-47
... 1940-47 455 Amusements .......................................... 1938-39 ...
427 Trading for own account ..............................
428 Developers of real property, including traders on own 456 Amusement, except motion pictures ................... 1940-51,53-54 ...
account ............................................ ... 1948-51;53-54 457 Theaters, motion pictures, all other amusements,etc. ... 1926
429 Title abstract companies ............................. ... 1940-51;53-54 458 Theaters, legitimate, vaudeville, etc ............... ... 1927-37
430 Real estate, including lessors of buildings not allo- 459 Other amusements-Circuses, golf links, racetracks,
pleasure resorts, etc ............................. ... 1927-39
cable (included in No. 431 for 1948-51;53-54). ..... ... 1938-47
460 Amusement not allocable ............................. ... 1938-3S
431 Other real estate, except lessors of real property
other than buildings ............................... ... 1948-51;53-54
461 Motion pictures (production and theaters) ........... 1940-51;53-54 ...
462 Motion picture producers ............................ ... 1927-51;53-5,4
432 Lessors of real property. except buildings ........... 1938-51;53-54 ';~ 463 Motion picture theaters ............................. ... 1927-51;53-54
433 Agricultural, forest, " similar properties ......... ... 1938-51;53
434 Mining, oil, and similar properties .................. ... 1938-51;53-54 464 Other services not elsewhere specified-Auto camps,
435 Railroad property .................................... ... 1938-51;53-54 cemeteries, boards of trade~ newspaper syndicates,
436 Public-utility property .............................. ... 1938-51;53-54 photographers, concessionaires-anuament, cloak-
r 1927-3,
437 Other real property, except buildings ................ ... 1938-51;53-54
465 Other
Ts'
service
etc . s. ,.. in..cl. ud
. . irig
- .- a.-ch~1
.. -. s- ............. :::::: 1938-51;53 -;~ ...
438 Lessors of real property, except buildings, not allo-
~sble (included in No. 437 for 1948-51;53-54) ...... ... 1938-47 466 Professional services-Curative, educational, engi-
439 Finance, insurance, real estate, and lessors of real neering, legal, etc. (included in No. 465 for
property not allocable ............................. 1938-39 ... 1938-51;53-54) .................................... ... 1926-3 r,
467 Services not allocable (included in No. 465 for
440 Services ............................................. 1926-51;53-54 ... 1948-51;53-54) .................................... 1938-47 ...
441 1 Hotels mid other lodging places ...................... 1 1940-51 ;53-54 1938-39 468 , Nature of business not allo-ble (not given) ........ 1 1926-51;53-54
1
6. Synopsis of
Federal Tax Laws,
1945-54
S"OPSIS OF FEDERAL TAX LAWS, 1945-54
Affecting the Comparability of Historical Data in Statistics of Income
Page
Corporation income and profits tax returns:

A. Tax rates ................................................... 183
B. Capital gain and loss provisions ............................ 185
C. Consolidated returns-provisions for filing and tax rates ... 186
182
in
SYNOPSIS OF LAWS, 1945-1954 183
Table A-TAX RATES UNDER CORPORATION INCOME AND PROFITS TAX LAW, 1945-54'
Federal tax law:2 Income rate')

(
Revenue .
Acts amending Code Tax base by type of tax4
year3 I-
(perc ant
date f et'act.ent)
(1) (2) (3) (4I
Internal
(Aug Revenue Code of 1954 1954 Income tax:
. 16, 1954). Normal tax:
Taxable income, entire mount ......................................................................... 30
Surta :
Taxable , income before deduction of partially tax-exempt interest:
$25 000 or less ...................................................................................
over $25,000.. ............................. I ............................................... 22
Consolidated
Ex'e "return (additional tax):
Consolidated
t taxable income before deduction of partially tax-exempt interest (entire mount) ......... 2
Alternative
Net long-term
": capital gain in excess of net short-term capital loss:
Taxable years beginning before Apr. 1, 1954 ....................................................... 26
Taxable years beginning on or after Apr. 1, 1954 .................................................. 25
All other taxable income.. ............................................................................ (30,22, and 2 as immedi-
ately above.)
(Internal Revenue Code of 1939 1952-53 Income tax:

as -ended.) I Normal t
Normal-tax net income, entire mount .................................................................. 30
Surtax:
Surtax net income:
$25,OGO or less ...................................................................................
Excess over $25,000 ............................................................................... 22
Consolidated r turn (additional tax ):
S-tax net income, entire mount ...................................................................... 2
Alternative tax:
Net long-term capital gain in excess of net short-term capital loss ................................... 26
All other normal-tax net income and surtax net income ............................................... (30,22, and 2 as imedi-
Excess profits tax : ately above.)
Adjusted excess profits net income, entire amount (terminated Dec. 31, 19539) ............................. 630
Revenue Act of 1951 (Oct. 20, 1951 Calendar years:

1951). Income tax:
Normal tax:
Normal-tax net income, entire mount .............................................................. 28 3/4
Surta :
Surtax net in ome:
$25,000 or less ...............................................................................
Excess over $25,000 ........................................................................... 22
Consolidated
Surtax return (additional tax ):
net income, entire mount .................................................................. 2
Alternative tax:
Net long-term capital gain in excess of net short-term capital loss ............................... 25
All other normal-tax net income and surtax net income ............................................. (28 3/4,22, and 2 as imme-
diately above.)
Excess profits tax :
Adjusted excess profits net income . entire mount ..................................................... 630
Other tax years beginning in 1951:7

Period ending Mar. 31, 1951:
Tax bases and rates same as income year 1950 period beginning July 1, 1950, and ending Mar. 31, 1951.
Period begiming Apr. 1, 1951:

Income t :
Normal tax:
Surtax:
Normal-tax net income, entire amount .............................................................. 30
Sor~tax net income;

$25,000 or less .............................................................................
E ceas over $25,000 ......................................................................... 22
Consolid ated return (additional tax):
.tc_.t
Surtax net income, entire amount .................................................................. 2
ive tax:
Net long-term capital gain in excess of net short-term capital loss:
Taxable year beginning before Apr. 1, 1951 .................................................... 25
All Taxable year beginning after Mar . 31, 1951 .................................................... 26
other normal-tax net income and surtax net income ............................................. (30,22, and 2 as immedi-
Excess profits tax: ately above.)
Adjusted excess profits net income, entire mount ..................................................... 630
Revenue Act of 1950(Sept. 23, 1950 Calendar years:

1950). Income tax:
Excess Profits Tax Actof 1950 Normal tax:
(Jan. 3, 1951). Normal-tax net income, entire amount .............................................................. 23
Revenue Act of 1951, excess Surtax:
profits tax provisions only Surtax net income:
(Oct. 20, 1951). $25,000 or less ...............................................................................
E cess over $25,000........................................................................... 81-9
Consolidated return (additional tax):
S-tax net income, entire amount .............................................................. 2
Alternative tax:
Net long-term capital gain in excess of net short-term capital loss ........................... 25
All other normal-tax net income and surtax net income ......................................... (23,19, and 2 as immedi-
ately above.)
Excess
Ad profits tax (effective July 1, 1950):'
j.sted excess profits net income, entire mount ..................................................... 630
1 1 1
For footnotes, see p. 187.

184 SYNOPSIS OF LAWS, 1945-1954
Tabie A.-TAX RATES UNDFR CORPORATION INCOME AND PROFITS TAX LAW, I945-54'-C--U-.d
Federal tax law:2 Tax r te5

Income Tax base by type of tax4
Revenue As amending Code
a year 3 percant
(data oft enactment)
(3) (4)
(1) (2)
1950-Con. Crther tax years beginning in 1950:7

Period -ding June 30, 1950:
Tax bases and rates same as income year 1949.
Period beginning July 1, 1950, and ending Mar. 31, 1951:

Income t :
Normal tax:
Normal-tax net income , entire anount ..............................................................
Surtax: 25
Surtax net income:

$15,000 or less ...............................................................................
Excess over $25,000:
Taxable year beginning before July 1, 1950 ................................................ 20
Taxable year beginning after June 30, 1950 ................................................ 22
net income , entire amount.. ................................................................ 2
Alternative
Surtax tax:
All other normal-tax net income and surtax net income ............................................. (25,20,22, and 2 as imme-
diately above.)
Excess profits tax: ...... _ ............ ....... ..........
.... _ ......
Adjusted excess profits net income , entire amount 630
Period ending after Mar. 31, 1951:

Tax bases and rates same as income year 1951 period beginning Apr. 1, 1951,except surtax rate which is the
same as that shown immediately above.
Revenue Act of 1945 (Nov. 8, "1949 Income tax:

1945). 1948 Normal tax:
1947 Tax base and rates same as income year 1945.
1946 Surtax:
Surtax net income in total amount:
Not over $50,000-
First $25,000 ............................................................................. 6
Next $25,000 .............................................................................. 22
Gver $50,DOO .................................................................................. 14 of entire surtax net
income.
Surtax net income, entire amount .................................................................. 2
Alternative tax:
All other normal-tax net income and surtax net income ............................................. (6,22,14, and 2 as i-di-
ately above.)
Revenue Act of 1943 (Feb. 25, "1945 Income tax:

1944). Normal tax:
Domestic corporations:
Normal-tax net income in total amount:
Not over $50,000-
First $5,000 .............................................................................. 15
Next $15,000 .............................................................................. 1?
Next $5,000 ............................................................................... 19
Next $25,000 .............................................................................. 31
Over $50 , 000 ........ ... . ...................................................................... 24 of entire normal-tax
net income.
Foreign corporations engaged in trade or business within the United States:
24
Normal-tax net income, entire amount ..............................................................
Surtax:
Surtax net income in total amount:
Not over t $50 000-
Firs $25,000
' ................................................................................. 10
Next $25,000 .................................................................................. 22
Over $50,000 ...................................................................................... 16 of entire surtax net
income.
2
Surtax net income, entire amount ......................................................................
Alternative tax:
25
Net long-term capital gain in excess of net short-tem capital loss ...................................
................................................. (Same rates as immedi-
All other normal-tax net income and surtax net income
ately above.)
Excess profits tax:
Adjusted excess profits net income, entire -t ......................................................... 695
Declared ,val a excess-profits tax:
Net ncom (for declared value excess-profits tax computation):
Net income in excess of 10 percent and not in excess of 15 percent of declared value of capital 6.6
stock.
Net income in excess of 15 percent of declared value of capital stock.. ............................... 1 13.2

Table B~PROVISIONS PERTAINING TO CAPITAL GAINS AND LOSSES UNDER CORPORATION INCOME AND PROFITS TAX LAV4 1945-54'
Federal tax law:'

Revenue Acts Income
Definition of capital assets and period held Treatment of net capital gain12 Treatment of net capital loSS12
(date
amending Code year)
of -tent)
(1) (2) (3) (4) (5)
Internal Revenue Code 1954 (1) All property, whether or not connected with trade or busi- Included in taxable income and taxed at Carried forward and treated as a net
of 19 54 (Aug. 16, 1954). ness, except: regular rates unless the net long-term short-term capital loss (deductible
(a) Stock in trade or other property which would properly capital gain exceeds the net short-term against any capital gains) for a
be includedin inventory, or property held primarily capital loss in which case the alterna- period not to exceed 5 years.
for sale to customers in the ordinary course of trade ti- ta~ my be used if it is less than
or business. the regular tax. The alternative tax
(b) Property used in trade or business of a character which is the a= of (1) the regular tax on
is subject to allowance for depreciation. taxable income reduced by the amount of
(c) Real property used in trade or business. the excess of net long-term capital
(d) Accounts and notes receivable acquired in the ordinary gain over net short-term capital loss
course of trade or business for services rendered or and (2) 26 percent of such excess for
from sale of property includible in inventory or or- taxable years beginning before Apr. 1,
dinarily held for sale. 1954, or 25 percent of such excess for
(a) G~verrment obligations issued on or after Mar. 1,1941, taxable years beginning on or after
onx a discount basis and payable without interest at a Apr. 1, 1954.
fi ad maturity date not exceeding one year from date
of issue.
(f) Certain copyrights, literary, musical, or artistic
compositions, or similar properties (but not a patent
or invention).13
(2) Gains and losses are consideredas from capital assets, under
certain conditions, with respect to:14
(a) Retirement of certain bonds, etc.
(b) Short sales.
(c) Failure to exercise options.
(d) Involuntary conversion and sale or exchange of certain
business property, if a net gain is realized.15
(e) Securities held for investment by security dealers.16
(f) Worthless stocks and other securities.
(g) Cancellation of leases or certain distributors' agree-
(1) 'ttin. and losses are not considered as from capital assets,
-..t..
(a) certain conditions, with respect to:14
under
Certain gain on property to which amortization deduc-
tion (see. 168) is applicable.
(b) Net loss from sales or exchanges of certain bonds, etc.,
by banks.
(c) Involuntary conversion and sale or exchange of certain
business property if a net loss is realized."
(d) Certain sales or exchanges of stock in a collapsible
corporation.
(a) Certain sales or exchanges of depreciable property of a
_tcontrolled corporation.17
(4) Short erm capital gains and losses are those from capital
assets held 6 months or less;long-term gains and losses are
from capital assets held over 6 months.
(Internal Revenue Code

of 1939 as amended.)
Revenue
( Act of 1951 1950-53 Same as 1954, except: Same as 1954, except that tax on excess Carried forward and treated as a net
Oct. 20, 1951). l(d) and 2(g) were not applicable. of ne~ long-term capital gain over net short-term capital loss (deductible
Revenue
(Sept Act of 1950 short-term capital loss was 25 percent against any capital gains) for a
. 23, 1950). for taxable years beginning before period not to exceed 5 years.
Apr. 1, 1951, and net capital gain was Capital gains and losses were excluded
excluded from the excess profits net in the computation of the excess
income for taxable years ended after profits net income for taxable years
June 30, 1950. ended after June 30, 1950.
Revenue Act of 1943 1945-49 Same as 1954, except; Same as 1954, -pt that for 1945 the Carried forward and treated as a net
(Feb. 25, 1944). l(d), l(f), 2(e), 2(g), and 3(e) are not applicable. excess of net long-term capital gain short-term capital loss (deductible
3(a) and 3(d) are applicable after Dec. 31, 1949, with respect over net short-term capital loss was against any capital gain.) for a
to taxable years ending thereafter. excluded from net income for declared period not to exceed 5 years.
value excess-profits tax and long-term For 1945 long-term gains and losses
gain was excluded from excess profits were excluded in computing "seas
net income. The treatment for income profits net income.
tax purposes was not affected by these
changes.
I
T.bl. C-CONSOLIDATED INCOME AND PROFITS TAX RETURNS-PROVISIONS FOR FILING AND TAX RATES, 1945-54'
Federal tax law:2

Type of tax for which Type of corporation permitted Consolidated return required
Revenue Acts Income Criterion of affiliation
a consolidated return to file a consolidated return or optional I" rate
wending Code t year3
"a permitted
date of enactmen
(1) (2) (3) (4) (5) (6) (7)
Internal Revenue Code 1954 Income tax and, under Any corporation except: One or more chains in- Optional upon consent of all Same as nonconsolidated
of 1954 (Aug. 16, certain conditions, (1) Corporations exempt from taxation cludible corporations
of members of affiliated gmq~ returns plus 2 percent
1954). personal holding com- order 1954 Code see. 501. connected through stock Election is binding for oftaxable income before
pany tax (2) Life and mutual insurance camps- ownership with a common subsequent taxable years of deduction of partially
nie. but they were considered as parent corporation which the affiliated group unless tax-exempt interest.
inc lud
' ibl. corporations if two or is an includible corpo- (1) a corporation (other However,ifWestern Hemi-
more such companies alone filed a ration if (1) stock pos- than one created directly sphere trade corpora-
consolidated return and each was sessing at least 80 per- or indirectly by a member tions or regulated pub-
subject
ct to tax under the same cent of the voting power of the group) becomes an lic utilities are in-
se ion of the 1954 Code. of all classes of stock affiliate during a subse- cluded in the consoli-
(3) Foreign corporations other than and at least 80 percent quent taxable year, (2) the dated group, the 2 per-
certain Canadian
a." and Mexican cor- of each class of the Commissionar,forgood cause, cent additional tax is
P oration nonvoting stock of each grants permission to change, applied to an wount
(4) corporations subject to see. 931 of the includible corpo- or (3) amendment to the which excludes the tax-
(relative to income from sources rations (except the com- Code or regulations makes able income of such cor-
within possessions of the United mon parent corporation) filing of consolidated re- porations. (See table
States). is owned directly by one turns less advantageous to A, pp. 183-4.)
(5) Corporations organized under the or more of the other in- affiliated groups asaclass.
China Trade Act 1922. ludible corporations; Because of such amendments
(6) Regulated inves,.ent
, companies c (2) the common par- affiliated groups filjqg
(taxable under subeh. M, ch. 1, and
ent corporation owns consolidated returns for
of the 1954 Code). directly stock possessing the preceding taxable year
(7) Unincorporated business entarprises at least 80 percent of were given new options with
taxed as corporations under sec. the voting power of all respect to-
1361 of the 1954 Code. classes of stock and at First return due to be
least 80 percent of each filed after Aug. 16,
class of the nonvoting 1954 (including those
stock of at least one of filed under an extension
the other includible of time for filing) or
corporations. The term with respect to the
"stock" does not include first taxable year ended
-voting stock which after Aug. 16, 1954.
is limited and preferred
as to dividends.
(Internal Revenue Code

of 1939 as amended.)
Revenue20, Act 5 of 1951
(Oct 1950-53 Income tax, and excess Any corporation except: Same as 1954, except that See 1954. New option granted Sam as nonconsolidated
. 19 1). profits tax imposed (1) Corporations exempt from taxation 1180 percent" should be for the- returns plus 2 percent
Excess Profits DixAct by see. 430 of the under 1939 Code see. 101. read 1195 percent." First return due to be of surtax net income.
of 1950 (Jan. 3, Internal Revenue Code (2) Life and mutual insurance compa- filed after July 1(~ 1953. However,ifWestem Hemi-
1951, effective as (1939). nies, but they were considered as First taxable year ending sphere trade corpora-
of July 1, 1950). includible corporations if two or after Mar. 31, 1951. tions were includedthe
Revenue Act of 1950 more such companies alone filed a First taxable year ending two percent additional
(Sept. 23, 1950). consolidated return and each was after June 30, 1950. tax was applied to an
subject to tax under the same amount which excluded
section of the 1939 Code. surtax net income of
(3) Foreign corporations other than such corporations. (See
certain Canadian and Mexican cor- table A, pp. 183-4.)
(4) porat ion..19
Corporations subject to 1939 Code
sec. 251 (relative to income from
sources within possessions of the
United States).
(5) Corporations organized under the
China Trade Act, 1922.
(6) Regulated investment companies
(taxable under supplement Q of
1939 Code).
(7) Personal service corporations,
personal holding companies, for-
eign trade corporations as defined
1939 Code see. 454(f), and
in
fcertain air mail carriers as de-
ined in 1939 Code sec. 454(g);
but such a corporation might be
included in a consolidated return
filed a consent to be
if it hadas an includible corpora-
treated
tion.
(8) Regulated public utilities which
elected to compute their excess
profits credit under the alterna-
tive method provided for such
companies in see. 448 of the In-
ternal Revenue Code (1939). How-
ever, two or more such companies
alme were permitted to file a
consolidated ret urn.
Revenue Act of 1945 1946-49 Income t ax ............ Same as 1950-53, (1) through (7). Sub- Same as 1950-53 .......... See 1954. New option granted Same as nonconsolidated
(Nov. 8, 1945). stitute 1939 Code sees. 727(g) and (h) for- returns plus an addi-
for 1939 Code sees. 454(f) and (g) in Fiscal years endinginl949. tional surtax equal to
(7) above. Calendar year or fiscal 2 percent of awtsa, net
years ending in 1948. income. (See table A,
Calendar year or fiscal pp. 183-4.)
years ending in 1947.
Calendar year 1946.
Revenue Act of 1943 1945 Income tax, and excess Same as 1946-49 ......................... Same as 1950-53 .......... See 1950-53. New option Same as 1946-49.
Feb. 25, 19"). profits tax under sec. granted for-
710 of 1939 Code. Fiscal years ending in
1946.

Footnotes for synopsis of laws tables
lFor income years 1909 through 1944, see Statistics of operating loss carryover from prior tax years. The carryback
Income for 1950, Part 2, pp. 247-282. and carryover periods for a net operating loss sustained un-
der the 1954 Code is, carryback 2 years, carryover 5 years;
2Returns for the income year 1954 were filed under the under the 1939 Code.the carryback for loss years 1950-53 was
Internal Revenue Code of1954 as amended. Returns for 1945-53 1 year, the carryover 5 years; 1948-49, carryback 2 years,
were filed under the provisions of the Internal Revenue Code carryover 3 years; and 1945-47, carryback 2 years, carryover
approved Feb. 10, 1939, and the various amendments thereto. 2 years, except that for corporations commencing business
There is no one effective date for all provisions of an in- after Dec. 31, 1945, the carryover for 1947 is 3 years.
ternal revenue law-some of the provisions maybe retroactive, See "Changesin Law Affecting 1954 Data," p.10 of this vol-
some apply to the current tax period, and some to a future ume for changes made in the computation of the net operating
tax year. loss deduction by the 1954 Code. For additional information
3The income year is the calendar year and tax years begin- on the net operating loss deduction,see appropriate sections
ning therein. of the 1954 and 1939 Codes.
(b) Taxable income.-Under the 1954 Code the tax basE~ sub-
4The tax bases are, in general, the same for all corpora- ject to normal tax, is designated "Taxable income." It is
tions and are derived from thecorporation's net income after the net income less any net operating loss carryover and the
allowance of certain statutory deductions. Net income is the statutory deductions shown in the table below. As indicated
gross income (exclusive of tax-exempt interest) less the in footnote (e), under the 1954 Code these deductions can
ordinary business expenses deductible under secs.161 through result in a net operating loss. The surtax base is the taxa-
171,173 through 176 and 248 of the 1954 Code (sec. 23 of the ble income computed without deduction ofpartially tax-exempt
1939 Code). Treatment of the net operating loss deduction, interest.
derivation of the tax bases from net income, and significant The tax bases under the 1939 Code were computed in essen-
variations in the bases applicable to certain classes of tially the same way but were designated "normal-tax net in-
corporations are shown in (a) through (k) below. come" and "surtax net income" and were derived from net in-
(a) The net operating loss deckiction is allowed as a deduc- come less net operating loss deduction through use oflimited
tion against the gross income by see. 172 of the 1954 Code credits which could never result in complete elimination of
(sec. 23(s) of the 1939 Code). The net income as tabulated taxable income.
in Statistics of Income is the net income for the current Variations in computation of the 2 tax bases in the period
year, i.e., before the deduction permitted with respect to a 1945-54 are shown in the table. Deductions used in computing
loss year. Therefore, the net operating loss deduction must the amounts subject to normal tax are identified by the sym-
be taken into account in relating the tabulated net income bol (N) in the table column, and those used in computing the
to the tax base. The net operating loss of any tax year is amounts subject to surtax are identified by the symbol (S).
first carried back against the net income of certain preced- The terms "taxable income" and "deductions" are used
ing tax years and the excess,if anymay then be carried over throughout this synopsis in lieu of the "normal-tax net in-
to certain succeeding tax years. The amount reported on the come," "surtax net income" and "credit" designations of the
return and tabulated for Statistics of Income is the net 1939 Code.
Percent of Item deductible-
1951 1950
Other tax yearsa other tax yearsa
Items for which deduction Is allowed 1954 1952-53 Beginning before 1948-49a C 1945
Calen- Calen-
Part Part der year Begin- July I
dar year ning
prior to after
Apr. I Mar. 31 J after Part Part
une 30b prior to after
July 1 June 30 b
(1) (2) (3) (4) (5) (a) (9) (10) (11)
1. Partially tax-exempt Interest d ..................... 100 100 100 100 100 100 100 100 100 100 100
(N) (N) (N) (N) (N) (N) (N) (N) (N) (N) (N)
2. Dividends received from a domestic corporation sub- 85 85 85 85 85 85 85 85 85 85 85
ject to the Income tax (other than dividends on (N)(8) (N)(S) (N)(S) (N)(S) (N) (8) (N) (S) (N)(S) (N) (8)
(N) (8) (N) (19) (N) (8)
certain preferred stock of a public utility).e
3. Dividends receivSd on certain preferred stock of a 62. 1 Zf 62 81 59 82 57 59 85 59 85 85

public utility. (N) (S) (N) (S) (N)(S) (N) (N)(S) (N) (N)
(N) (S) (N) (S) (N)(S) (N) (S)
4. Dividends received from certain foreign corporations 85 85 85 85 85 None None None None None None
doing a substantial volume of business within the (N)(S) (N)(3) (N)(S) (N)(S) (N)(S)
United States and derived from Income earned in the
United States.e
5. Dividends paid on certain preferred stock of a pub- 26-923f 27 28 ~0 27 33 30 100 31 100 100
lic utility or the net Income of the public utility (N) (S) (N) (19) (N) (8) (N)(S) (N) (S) (N)(S) (N)(3) (a) (N) (3) (S) (S)
minus the deductions provided In 1 through 4 above,
whichever Is the lower.9
6. Western Hemisphere trade corporation taxablx Income 26.923f Z7 28 30 27 33 30 None 31 None None
computed without regard to this deduction. (N) (S) (N)(8) (N) (8) (N) (8) (N) (8) (N)(8) (N) (a) (N)(S)
7. Adjusted excess-profits net Income as defined In None None None None None None None None None None 100
section 710(b).' (N) (8)
I I I I I A I I I I I
'See footnote 7 for proration of deductions. IThis percentage Is derived from a formula Contained In the Internal Revenue
h For deductions after Mar. 31 I 1951 I see col (51 Code of 1954 which relates the amount of deduction to the tax rate.
CFor a tax year 1949 ended a fter June 30, 19.50, see Col. (9) for deductions gFor treatment of dividends Paid th respect to dividends unpaid and accumu-
apyll cable after that date. lated for prior tax years. and for Idefinitions of public utility and preferred
Under the 1939 Code net Income less the deduction for Partially =-exempt stocks as used for this deduction, see sec. 247 of the 1954 Code and see. 26(h)
Interest Was designated -Adjusted net Income.- (Sec. 13(a) of 1939 Code.) ofhthe 193q Code.
eUnder the 1954 Code, total deductions for dividends received (lines 2 through A domestic corporation, all or whose business Is done In any country or coun-
4 of the table) In excess of net Income results In a net operating loss for the tries of North, Central, or South America, or In the West Indies, Is classified
y ar. However, If the total dividend deduction Is less than the net Income, the as a Western Hemisphere trade corporation If (1) 95 percent or more of Its gross
deduction Is limited to 85 percent of the net Income after deduction of partially Income for the 3-Year period Immediately preceding the close of the tax year (or
tax-exempt Interest but before any net operating loss deduction.
C Under the 1939 for such part of that period as the corporation was In existence) was derived
ode the total dividends received deduction for each tax base could not exceed: from sources outside the United States; and (2) 90 percent or more of Its gross
1950-53, 85 percent of the net income adjusted by the deduction for partially InQome for such period was derived from the active conduct of a trade or business.
tax-exempt Interest (line 1) but before any net operating loss deduction; 1946-49, tFor 1945, If the excess profits tax was computed under certain special pro-
85 percent of the net Income adjusted by the deduction for partially tax-exempt visions of the 1939 Code (shown In sec. 26(e) ), the credit was 100/95 of such tax
Interest and after net operating loss deduction; and 1945, 85 percent of the net before the application of the 80 percent limitation (footnote 6), before the
Income after net operating loss deduction adjusted by the deduction for Income credit for foreign taxes paid (footnote 5(a)) and before any adjustment In case
subject to the excess profits tax (line 7), plus, fornormal-tax net Income only, of position Inconsistent with prior Income tax liability (sec. 734).
the deduction for Partially tax-exempt Interest.
448404 0 - 57 - 13
(c) Net long-term capital gain in excess of net short-term income tax by (i) the disallowance of the deduction for the
capital loss.-Capital gain and loss provisions are shown in declared value excess-profits tax, and (ii) exclusion from
table B of this synopsis. gross income of the excessofnet long-term capital gain over
(d) Consolidated return provisions are shown in table C of net short-term capital loss. The 85 percent credit for divi-
this synopsis. dends received was allowed against the net income. This tax
(e) The adjusted excess profits net income for 1950-53 was was imposed on corporations subject to the capital stock tax
the excess profits net income less the amounts of the excess under see. 1200 of the 1939 Code. Insurance companies were
profits credit and the unused excess profits credit adjust- exempt. The declared value excess-p:eofits tax was repealed,
ment. A minimum credit of $25,000 was provided. Excess prof- effective for income tax years ended after June 30, 1946.
its net income and methods of credit computation are dis- (9) Life insurance companies.-For 1945-54 the net income
cussed on pages 9-11 of Statistics of Income for 1951, Part 2. reported by a life insurance company was the net investment
A change in the percentage of average base period net income income (the gross amount of interest, dividends, and rents
used in computing the excess profits credit under the income less investment and real estate expenses, tax-free interest,
credit method was made on July 4 1951. For the period July], and depreciation). Taxable income and excess profits tax net
1950 through June 30, 1951, this percentage was 85 percent. income were derived in the same manner as for other corpora-
Beginning July 1, 1951, it was 83 percent. The credit was tions except that no deduction was allowed for a net operat-
prorated for tax years which began before and ended after ing loss. Before imposition of tax, however, recognition was
July 1, 1951, and an 84 percent intermediate rate was pro- made of requirements for reserve earnings, deferred dividends,
vided for the calendar year 1951 by the 1939 Code. and interest paid. In lieu of deductions for these items,
Special provisions applicable to computation of excess for 1951-54 special income tax rates (note 5(b)) and a re-
profits credit of certain companies are shown in StatistIcs serve interest credit for companies whose adjusted net in-
of Income for 1951, Part 2, pages 11-12. come was less than 105 percent of their required interest
For 1945 the adjusted excess profits net income was the were used. For 1945-50, 8 reserve and other policy liability
excess profits net income minus a specific exemption of credit based on representative date for the preceding year
$10,000 ($50,000 for certain mutual insurance companies) and was allowed and the regular tax rates were imposed. These
minus the amounts of the excess profits credit and the unused provisions were offset, in case of nonlife insurance busi-
excess profits credit adjustment. The excess profits net in- ness,by an adjustment forcertain nonlife insurance reserves.
come was obtained from the taxable income (computed without In computing the excess profits net income for 1950-53 and
allowance of credit for income subject to excess profits tax 1945, a deduction based on a reserve and other policy lia-
and without allowance of dividends received credit) by making bility credit was allowed. The regular excess profits tax
the following adjustments: rates were imposed. (Computation of credits and other pro-
(1) Under the income credit method there was added the net visions are shown in sees. 801-807 of the 1954 Code and sees.
short-term capital gain and the adjustment to net operating 201-203A of the 1939 Code. )
loss deduction and there was subtracted the sum of: (h) Mutual insurance companies.-Taxable income iscomputed
(a) Net gain from sale or exchange of capital assets. in the same manner as for life insurance companies except
(b) Income from retirement or discharge of bonds. that certain capital gains and losses and interest paid are
(c) Refunds and interest on Agricultural Adjustment Act included in the computation of net income. See see. 822 of
taxes. the 1954 Code (sec. 207 of the 1939 Code). See footnote5(c)
(d) Recoveries of bad debts. for imposition of tax.
(e) Dividends received credit adjustment. M Insurance companies other than life or mutual-Gross
M Nontaxable income of certain industries with deple- income of these companies includes investment and underwrit-
table resources. ing incomes, and deductions allowed include general business
(2) Under the invested capital credit method, the excess expenses, losses, and distributionsto policy holders as pro-
profits net income was computed as in (1) above plus (a) 50 vided by sec. 832 of the 1954 Code (see. 204 of the 1939
percent of interest on borrowed capital and (b) interest on Code). Taxable income is derived as shown in (b) above and
Government obligations. the regular tax rates are imposed.
The excess profits credit provisionsfor 1945 are discussed (j) Regulated investment companies meeting the require-
on pp.64-65 Of Statistics of Income for 1945, Part 2. Under ments of subeh. M, ch. 1 of the 1954 Code (Supplement Q of
those provisions the excess profits credit based on income the 1939 Code) are taxed only on undistributed income. One
consisted of 95 percent of the average base period net income of the requirements is that distributions to shareholders,
and 8 percent of the net capital addition, reduced by 6 per- exclusive of capital gain dividends, shall equal 90 percent
cent of the net capital reduction. The excess profits credit or more of investment company taxable income (exclusive of
based on invested capital was the sum of the following per- capital gains). The regular alternative tax is payable on
centages: undistributed income with the maximum tax on capital gains
fixed at 25 percent. See the above-mentioned parts of the
Percent Internal Revenue Codes for definitions and further conditions
First $5,000,000 of invested capital ........... 8 under which these tax provisions apply.
Next $5,000,OW of invested capital ............ 6 (k) Mutual savings banks conducting separate life insur-
Over $10,000,000 of invested capital ........... 5 ance departments compute net income and tax for such depart-
ments under Internal Revenue Code provisions applicable to
The unused excess profits credit, which was the excess of life insurance companies (see par. (g) above). In tabulating
the excess profits credit over the excess profits net income the data for Statistics of Income, thelife insurance depart-
for the tax yearwas, for 1950-53, carried back as an unused mentincameand tax are added to those reported for the bank
excess profits credit adjustment to the first preceding tax department. These banks were exempt from taxation under see.
year, and the remainder, if any, could then be carried for- 101 of the 1939 Code prior to 1952 and were exempt from bx-
ward as an adjustment to succeeding years. The carryforward cess profits tax for 1952-53 under sec.454 of the 1939 Code.
period was 5 years. No carryback of unused excess profits
credit computed under the provisions of the Excess Profits 5The tax rates shown are those applicable, in general, to
Tax Act of 1950 could be made to tax years ended before all corporations, domestic and foreign. Credits against the
July 1, 1950, and no portion of the minimum $25,000 credit tax and certain exceptions to the rates are shown in (a)
could be considered as unused excess profits credit. For through (i) below:
1945 the carryback period was 2 years and the carryforward (a) Credits againstthe tax.-(l) Income and profits taxes
period 2 years. For computation of the unused excess profits paid to foreign countries and possessions of the United States
credit adjustment for the years 1950-53, see sec. 432 of the may be used asa credit against the income and excess profits
1939 Code, and for the year 1945, sec. 710(c) of such Code. taxes in the manner and to the extent allowed by see. 901 of
The unused excess profits credit adjustment shown in Statis- the 1954 Code and see. 131 of the 1939 Code. The allowance
tics of Income was the unused excess profits credit carry- of this credit, and the limitations thereon, as applicable
forward applicable to the year for which it was reported. for the year 1954, are discussed on p.20 of this volume and
W Declared value excess-profi ts tax.-The net income used the differences in limitations under the 1954 and 1939 Codes
for the computation of this tax differed from that used for are discussed on p. 11.
(2) For 1945 a credit of 10 percent of the excess profits 1945-49. For exemption from the consolidated return tax for
tax was allowed against the excess profits tax liability. 1950-54, tee table C of this synopsis.
(b) Life insurance companies. -Beginning with 1951 special (h) Corporations subject to additional tax. -Personal hold-
income tax rates were provided. These rates, which were the ing companies are subject to an additional tax,imposed under
same for 1951-54)were.-3 3/4 percent on the first $200,000 of sec.541 of the 1954 Code (ch. 2, subeh. A of the 1939 Code),
life insurance company taxable income and 6 1/2 percent on and based on the undistributed personal holding company in-
such net incomein excess of $200,000. (As an offset to these come. For the years 1945-54 the tax was 75 percent of the
rates, adjustments for nonlife reserves were multiplied by undistributed personal holding company income not in excess
8.) For 1945, the declared value excess-profits tax was not of $2,000 plus 85 percent ofsuch income in excess of $2,000.
applicable to life insurance companies. (See pp. 14 , 21 , and 26 of this volume for general defini-
(c) Mutual insurarice'companies, except life or marine, or tions and differences between the 1954 and 1939 Code provi-
fire insurance companies issuing perpetual policies.-Sec. sions affecting this tax.)
501 of the 1954 Code (sec.101 (11) of the 1939 Code) exempts Corporations improperly accumulating surplus are subject
these companies from taxation if their gross income from in- to an additional surtax imposed by see. 531 of the 1954 Code
terest, dividends, rents, and premiums (including deposits (see. 102 of the 1939 Code). This tax is not applicable to
and assessments) does not exceed $75,000. When such gross corporations subject to personal holding company tax provi-
income exceeds $75,000, sec. 821 of the 1954 Code (see. 207 sions and those exempt from taxation ((e) above'). The ef-
of the 1939 Code) provides income taxation based,iA general, fects of the provisions of this section are not reflected in
on the regular corporate rates, but with certain alternative Statistics of Income.
provisions and limitations. The excess profits tax rate was (i) Mutual savings banks 'conducting separate life insur-
the same as that for regular corporations with the exception ance departments.-See note 4(k) .
of a limitation for companies whose gross income from the 6Limitations on,the excess profits tax.-The excess prof-
sources shown above was less than $125,000. See see. 430(d) its tax under the Excess Profits Tax Act of 1950 became ef-
of the 1939 Code. fective July 1, 1950,and ended Dec. 31, 1953. Ceiling rates
Mutual insurance companies were not subjeettothe declared and the alternative tax for new corporations under this act
value excess-profits tax in 1945. are shownonpp. 12-13 of Statistics of Income for 1951, Part
(d) Nonresident foreign'corporations, not engaged in trade
2. For 1945 the excess profits tax imposed by-sec. 710 of
or business within the United States, are taxed, under see. the 1939 Code was limited to the difference between the in-
881 of the 1954 Code (sec.231(a) of the 1939 Code),on income come tax(other than that shown in footnote 5(h)) and 80 per-
(except interest on bank deposits) from sources within the cent of the surtax net income (computed before the credit
United States. The tax is 30 percent of such income except for income subject to the excess profits tax and without re-
as modifiedby treaties with other nations. Such corporations gard to 80 percent of credit for dividends paid on certain
were not subject to the excess profits and declared value preferred stock). For 1945 certain corporations claiming
excess-profits taxes. The returns of nonresident foreigncor- relief under the provisions of sec.722 of the 1939 Code were
porations are not included in Statistics of Income. permitted to defer payment of 33 percent of the reduction
Under the provisions of sec. 551 of the 1954 Code (Supple- claimed in tax. The privilege was confined to corporations
ment P of the 1939 Code), income of certain foreign personal whose adjusted excess profits net income for the tax year,
holding companies is includible in the income of the share- computed without the benefits of see. 722, was in excess of
holders and is not reported by the company for taxation. 50 percentof the taxable income (computed without the credit
(e) Corporations exempt from taxation under sec. 501 of for income subject to the excess profits tax). The amount
the 1954 Code or sec. 101 of the 1939 Code.-Such corpor&- tabulated for Statistics of Income was the excess profits
tions include labor, agricultural or horticultural organize- tax after this deferment. The excess profits tax effective
tions,certain types of cooperative and mutual organizations, in 1945 was repealed Jan. 1, 1946.
corporations organized and operated exclusively for reli,- For proration of the excess profits tax for 1953-54, 1949-
gious, charitable, scientific, literary, or educational pur- 50, and 1945, see footnote 7.
poses, nonprofit civic, business, and social organizations, For special provisions affecting certain companies, see p.
and for 1945-51, certain mutual savings banks, building and 12 of Statistics of Income for 1951, Part 2, and the 1939
loan associations,and cooperative banks. Beginning with 1951 Code.
a normal tax and a surtax were imposedonthe unrelated busi-
ness net income in excess of $1,000 of certain of these cor- 7When a returnis filed fore, tax year during which a change
porations by Supplement U of the 1939 Code. Secs. 501 and in tax rates occurs, tentative taxes are computed applying
511-515 of the 1954 Code expand and continue these taxes. each rate in effect during the tax year to the entire taxa-
The rates are similar to the regular corporate income tax ble income. The amounts so determined are then prorated on
rates. However, the returns filed by these corporations are the basis of the number ofdays in the year during which each
not included in Statistics of Income, Corporation income Tax rate is in effect. The prorated portions of the tentative
Returns. taxes are then combined to determine the actual liability
(f) Additional corporations exempt from the excess profits which is the amount tabulated in Statistics of Income. To
tax (unless a member of an affiliated group of corporations give effeetto changes in the deductions from net income used
filing a consolidated return).-Specific exemption from the in computing the tax bases, taxable income used in calculat-
excess profits tax under the 1939 Code was granted to: (1) ing each tentative tax is computed with the deductions appli-
Regulated investment companies (defined in sec. 361 of the cable to the period to which the tax rate applies.
1939 Code); (2) personal holding companies (defined in see.
501); (3) domestic corporations if 95 percent of gross in- 8A tentative surtax was computed at 19 percent of the sur-
come for the 3-year period immediately preceding the close tax net income in excess of $25,000. The actual liability
of the tax year was derived from sources outside of the United was then determined by reducing this amount by 1 percent of
States and 50 percent of such income was derived from active the lower of (a) partially tax-exempt interest, or (b) surtax
conduct of a trade or business;(4) certain corporations sub- net income in excess of $25,000.
ject to provisions of Title IV of the Civil Aeronautics Act
of 1938; and (5) beginning in 1952, certain mutual savings 9The excess profits tax imposed by the Excess Profits Tax
Act of 1950 was in effect from July 1, 1950 through Dec. 31,
banks, building and loan associations, and cooperative banks
1953. For tax years which began before or ended after those
formerly exempt from taxation under sec. 101 of the 1939
dates, the tax was the prorated portion applicable to that
Code. In addition, personal service corporations might elect
part of the year the tax was in effect. See footnote 7.
to be exempt from the tax on excess profits, tax being im-
posed under Supplement S of the 1939 Code on the individual 1 OFor tax years which began in 1949 and ended after June 30,
shareholders. 1950, the rates shown for the income year 1950 period begin-
(9) Western Hemisphere trade corporations (definedin foot- ning July 1. 1950, and ending Mar. 31, 1951, were effective
note 11h11 of note 4(b) above) were exempt from the surtax for after June 30, 1950. For proration of tax, see footnote 7.
"For income year 1945 returns ended after Dec. 31, 1945~ interest, all of above property having been held for more than
see footnote 7 for proration of surtax. 6 months; timber held for more than 6 months before begin-
The excess profits tax effective in 1945 was repealed ning of tax year in which cut,iftaxpayer so elects; certain
Jan. 1. 1946, and the tax for noncalendar year returns was unharvested crops on business real property held for more
prorated according to the number of days before that date. than6 months and sold in a tax year beginning after Dec. 31,
The declared value excess-profits tax was repealed for in- 1950; and livestock,except poultry,held for draft, breeding,
come tax years ending after June 30, 1946, and was not sub- or dairy purposes for 12 months (priorto Dec. 31,1950, hold-
ject to proration. ing period was 6months and poultry was not excluded). Depre-
ciable property in items 3(a) and (e) of table are excluded.
12Net capital gain is the excess of gains from sales or
exchanges of capital assets over losses from such sales or 16Applicableto sales or exchanges made after Nov. 19,1951.
exchanges. Both short- and long-term gains and losses are
included. Conversely net capital loss isthe excess oflosses "Applicable to sales or exchanges made after May 3, 1951.
over gains.
"For conditions under which a consolidated return may not
13Effective for tax years beginning after Sept. 23, 1950. be filed for personal holding company tax, see "Changes in
"See sees. 1231-1241, 165, 341,and 582 of the 1954 Code Law Affecting 1954 Data," p. 1,4.
(sees. 117(f) through (o) and sec. 23(g),(J),and (k) of the 191n the case of a domestic corporation owning or control-
1939 Code). ling, directly or indirectly,100 percent of the capital stock
1SApplicable to involuntary conversion of capital assets, (exclusive of directors' qualifying shares) of a corporation
involuntary conversion, sale, or exchange of real property organized under the laws of Canada or of Mexico and main-
and property subject to depreciation which was used in the tained solely for the purpose of complying with the laws of
trade or business, amounts received for timber and amounts such country as to title and operation of propertysuch for-
received or accrued for coal after Dec. 31 1950, where dis- eign corporation may, at the option of the domestic corpora-
posal was by contract under which owner retained an economic tion, be treated as a domestic corporation.
7. Facsimiles of
Corporation
Return Forms
for 1954
CORPORATION RETURN FORMS, 1954
Page
Form 1120: Corporation income tax return.. 193
Form 1120L: Life insurance company income tax return ............. 211
Form 112CM: Mutual insurance company income tax return ........... 215
Form 1118: Statement in support of credit claimed for taxes paid
to a foreign country or United States possession ................ 219
(A facsimile of Form 1120 schedule EP for 1953 from which the

excess profits tax was tabulated can be found in Statistics of
Income for 1953, Part 2. )
192
FACSIMILES OF TAX RETURNS FOR 1954 193
roRm 1120
U. S- Tv-" Dpaxtm t
FOR CALENDAR YEAR 1984
or Other taxable year beginning ------------------------------------------------- 1954,
1954 %gel
a and ending 195 Do not write in space below
PLEASE TYPE OR PRINT PLAINLY Serial N.
U. S. CORPORATION No..
INCOME TAX Number and Street
RETURN City or town, podal zone number, State
])at. incorporated Sum, n group Code Number and principal buA-en activity (See page 8 of Ingtructions)
Number of Pines. of bui.- 1. it" . oo-lidaW return? (See In. I I. t..py.r . wale proprietorship or porhien&ip electing under -tion 1361 bD be taxed a.
1)
0 Yes 1:1 No 1:1 Yee No
TAXABLE INCOME COMPUTATION

Inst- on
.rul It.- N GROSS INCOME
1. Grow sales (where inventories are Lem: Returns and
an income-determining factor) $............... . allowances $------------------------------ $----------------------------
2. Less: Cost of goods said (from Schedule A) .............................................
3. Gzoss profit from sales ................................................................... $ -----------------------------
4. Gross receipts (where inventories are not an inowne-deterinining factor). . ~ -----------------
B. Less: Cost of operations (from Schedule B) ....................... [ ------- -
6. Gross profit where inventories axe not an income-determining factor. . . . . . . . . . . . . . - . . . . . . . . - - - -
7. Dividends (from Schedule Q ............................................................. ...............................
S. Interest on loans, notes, mortgages, bonds, bank deposits,
9. Interest on corporation bonds, etc. (firom Schedule
10. Interest on obligations of the United States, etc. (from Schedule
11. Rents .................................................................................. ...............................
12. Royalties ............................................................................... ...............................
13. Gains and loswo (from Schedule D):
(a) Net short-term capital gain reduced by any not loug~lslxs Capital lose .. . .. . .. . .. .. . . .. . . . ...............................
(b) Not long-term capital gain reduced by any not short-term capital lose .................... ...............................
(c) Net gain (or loss) from sale or exchange of property other than capital assets -------------- -------------------------------
14. Other income (Attach schedule) .......................................................... I
15. Total income in items 3, and 6 to 14, inclusive ............................................................... $----------------------- - -----
DEDUCTIONS
16. Compensation of officers (from Schedule E) ................................................ $--------------- - -------------
17. Salaries and wages (not deducted elsewhere) .............................................. ...............................
18. Flout ................................................................................... ........................... ---
19. Repairs (Do not include cost of improvements or capital
20. Bad debts (it= Schedule 1) ...............................
-------------------------------
21. Interest ................................................................................ ...............................
22. Taxes (from Schedule G) ................................................................ ...............................
23. Contributions or gifts paid (from Schedule M ............................................... ...............................
24. Losses by fire, storm, shipwreck, or other casualty, or theft. (Attach schedule) .................. ...............................
25. Depreciation and amortization (from Schedule I) ............................................ ...............................
26. Depletion of mines, oil and gas wells, timber, etc. (Attach schedule) ............................ .......... --------------------
27. Advertising ............................................................................. ...............................
28. Amounts contributed under: (o) A pension, annuity, stock bonus, or profit-sharing plan ---------- -------------------------------
(b) Other employee benefit
29. Other deductions (from Schedule 1). (Include any special deductions not listed in Schedule K) ...
30. Total deductions in its= 16 to 29, inclusive .................................................................
31. Taxable income before net operating loss deduction and special deductions from Schedule K (item 15 lose item 30) .......... $
32. Lou: (a) Not operating low deduction (Attach schedule) ................................ 1$---------------------- ---- ---
(b) Special deductions it= Schedule K Wne 6, page 3) ............................
33. Item 31 minus the sum of items 32(a) and (b) (Enter income or lose here and in line 7, page 3) ................. ........ $
TOTAL INCOM TAX
34. Income tax (line 11, page 3) .............................................................. $----------- ------------- ---
35. Leas: Credit for income taxes paid to a foreign country or United States possession allowed
a domestic corporation (Submit Form 1118) ........................................
36. Balance of income tax (item. 34 minus item 35) ..................................................... $----------------- ----------
37. Add: Tax under section 541 of the Internal Revenue Code (from Schedule 1120PH) ................
38. Total income tax due (item 36 plus item 37) (For installment payments, me Instructions) ................. $
Did the corporation pay anyone other than an employee for assistance in the pr,opuration of this return? [I Yes No
If answer is "Yes," enter his name and address
SIGNATURE AND VERVICATIOX (Sets Instmctlon E)

1, the undersigned, president, vice-president treasurer, assistant treasurer, chief accounting officer (or other duly authorized officer) of the corporation
for which this return is idade, declare under the penalties of perjury that this return (including any accompan= schedules and statements) has been
examined by me and in, to the best of my knowledge and belief, a true, correct. and gomplete return, made in 9 faith, for the taxable year stated, pur-
suctut to the Internal Revenue Code and the regulations issued thereunder.
COV"RATE
ARAZ
-
(Date) (Biga-t-re, .1 now-) --~lflflwi
I declare under the penalties off perjury that I prepared this return for the person named herein; and that this return ny mpanying
schedules and statements) is6 to the beat of my knowledge and bolist a true, correct and complete return bond on aft.01=91a"tionarceckoLting tothe
matters required to be reported in this return of which I have any knowledge.
(Date) - (Imliridual or Fma Signature) Wdr-w -16--70830-1

194 FACSIMILES OF TAX RETURNS FOR 1954
Page 2
Schaultalm, A-COIT OF OWES SOZD. (See, Imistralartlen 2) Schedule B.-COST Or OPERATIONS
(Wheire t-tcAss, suca, car, hcc*xc,-d*t*cc,i,i,g factox) (Wh- tn-ritcri- - ..t .. f-t-)
1. Inventory at beginning of year ................... $------------------------------ 1. Salaries and wages .................... 1$------------------------------
2. Merchandise bought for manufacture or mals, ...... 2. Other costs (to be detailed);
3. Salaries and wagres ............................ (a).....................................
4. Other code pilot books. (Attach schedule) ........ W ...................................
5. TOW ..................................... $ ----------------------------- W ...................................
L Imm- Inventory at amd of your.............. (d)...................................
(a) ...................................
T. a of 06 odd (Enter here and aar Item 2,
:L 17 .................................. 11 3. Total (Enter here and as item 5, page 1). . !$
90,
Schedule C.-INCOM FROM DMDZNDB
2. 3 Certain PTefwred StKk of
I Piibfic Utilities Taxable Under 4. Foreilin Corporations 5 Other Corporations
1. Name of Dadmitiff Corporation * ratio"s Christer 1, Internal Revenue
I oter"I Rousso. me Code
-------------------------------------------------------------------------------- $------------------- ------ $ ------------------------- $ ------------------------- $ --------------------------

-------------------------------------------------------------------------------
------------- - ---------------------------------------------------------------
-------------------------------------------------------------------------------
701111111 ..............................................
Total of columns 2, 3, 4, and 5. (Enter here and as item 7, page 1.) .................................. . . ........... 1$
T.,c=
Nsa (aP)djn,=,= I vpliw,whihhocki be act ..d I. c.1-,. 3; ..d (h) diid,ssidii, whi.h h..Id b. entsced i. -1... 5, -1-d f.- China
of p2blZutilitise,
ocd Iscas owparroft- -pt hom to. under -.H.- 501 nd 521.
Schedule, C-I.-INT11REST ON CORPORATION BONDS AND OBLIGATIONS OF THE WITTZD STATES
(See Instructions 9 and 10)
1 1. Gross Amount of I almost 1 2. Amortizable Bond Premium 13. Column I less Column 2
1. Intend on corporation bonds, aito. (Enter amount in column 3 as item 9, page 1.). $ $ $
2. Interest on obligations of the United States, etc.:

(a) Issued prior to March 1, 1941-(1) U. S. savings bonds and Treasury bonds
owned in excess of the principal amount of $5,000, and (2) obligations of
an instrumentality of the U. S.......................................... $-------------------------- $-------------------------- $ -------------------------
(b) Obligations issued on or after March 1, 1941, by the U. S. or any agency or in-
str=ontcdity thaw ..................................................
Tokd of Haft 2 (a) and 2 (b). (Enter total in column 3 as item 10, page 1.) ...... $
Schedule D.--Sairscarate Schedule D (Fortin 1120) should he used in reporting surame or exchanges of property and filed with this return.
(Sess Instruction 13)
Schedule E-VONVIINSATION OF OFFICERS
Percentage of Corporation'sStKk
3. Time
thodriess
Devoted to Owned 6. Amount of
1. Name and Address of Officer L Officiall Title Compensation
4. Common 1 5. Preferred
--------- ------- ---------------------------------------------------- ------------ ------------------------------- ------------------- -------------- --------------- S---------- -----------
-------------------------------------------------------------------------------- ------------------------------- ------------------- -------------- ---------------
----------------------------------------------------------------------------------- ------------------------------- ------------------- -------------- ---------------
-------------------------------------------------------------------------------------------------------------------- I -------- ---------- I-------------------------------
Total compescaustion of offliceirs. (Enter here and as item 16, page 1.) ...................................................... I- S
sobeduls, r-zAD Dicars. is" imstarmatime, IS)

Amount of mots, and ftexuard e receivable outstanding at- 6 Bad Debts of Co, If Corporation Carrier a Reserve
4. T..bk(o, Net) L Sales on Account iiti.,% 0 Me IthemnTs-
1. Taxable
Yen Income Repturtaid Carried an Books 7. Gross Amount Added 8. Amount harcull
2. Galleries of Yerr End of Year to R-,. Assinst RC01"i've
1951 .... $----------------------- $----------------------- $------------------------ $----------------------- $ ------------------------ ll~ ---------------------- $ ----------------------
M2 - --- ------------------------- ------------------------- ------------------------- ------------------------- ------------------------- ------------------------- -----------------------
1953 - - - - ------------------------- ---------------------- -- ------------------------- ------------------------- ------------------------- ------------------------- -----------------------
1954.. - l_ ---- ------------------ ------------ - ----------- I ------------------------- I ------------------------- I ------------------------- -------------------------- -----------------------
NOT-L-Swourlikuse which am tapital comb and which Is-. wothl- wifixt. the I, ...ble yea. .1sculd be rp-td J. -p.-I. Shdl. D.
Schedulaa B-CONTRIBITTIONS OR GIFTS PAW
Schedule @-TAX=. (Sess bwbuetlm 22) (S" Inabnafto 23)
Wittaire Amount Home ad Addrm of Organization Amount
- -- --------------------------------------------------------- $ ----------------------------- --------------------------------------------------------------- $ --------------- --------------

-------------------------------------------------------------- ------------------------------- --------------------------------------------------------------- -------------------------------
------------------------------------------------------------ -------------------------- ---- ----------------------------------- --------------------------- -------------------------------
---- ------------------------------------------------------
Total. (Enter here and as item 23, page 1,
TobalL (Enter heirs, and asitem 22, page IJ_ 11 I S
Schedule I-DZPRMATION AND AMORTIZATION (WXMMR CLADUD). (See Isixtruatleas 28)
Aftesch a detulleall sarlesedulas, In suppact oil coach of tho Runs In this schedule
lent A-DI111"RECIATION CLADAMD Part B-AMORTIZATION CLAZIKED
1. Straight line method ........................ $ ----------------------------- 7. Emergency facilities ...................... $-----------------------------

L Declining balance method ................... ------------------------------- 8. Grain storage facilities ...................
& Sam of the yeartedigits method ............... 9. Research or experimental expenditures ......
4. Depreciation band on 10. Exploration and development expenditures
(a) Units of production .................... (Sec. 615 and See. 616) .................
(b) Hours of machine operation ............ 11. Organizational expenditures ..............
5. Other methods .............................
6. Total depreciation claimed ................... 1$ ------------------------------ 1 12. Total amortization claimed ................ El
13. Enter here the total of lines 6 and 12 ................................................................... $------------------------------
Part C 14. Low: Amounts of depreciation and amortization claimed in Schedules A or B or elsewhere on return ...........
18. Balance-Ember here and Do itson 25, page I ............................................................ El
aft*$ as " I--"" sit eased onmium assulaw Missiles, 171.
Page 3
Schedule I.-OTHER DEDUCTIONS. fSee Instruction 29)
----------------- ---------------------------------------------- $--------------------------- ------------------ ------- ----------------------------------- $ ------------------------------
---------------------------------------------------------------- --------------- --------------------------------------------------- --------------------------------
---------------------------------------------------------------- ------------------------------ ---------------------------------------------------------------- --------------------------------
---------------------------------------------------------------- ------------------------------ --------------------------------------------- ------------------ -----------------------------
---------------------------------------------------------------- ------------------------------ ---------------------- ----------------------------------------- --------------------------------
---------------------------------------------------------------- ------------------------------ ---------------------------------------------------------------- --------------------------------
---------------------------------------------------------------- ------------------------------ ---------------------------- ----------------------------------- --------------------------------
---------------------------------------------------------------- ------------------------------ ---------------- ----------------------------------------------- --------------------------------
-------------------------------------------------------------- ------------------------------ --------------------------- ------------------------------------ ---------------------
----------------------------------------------- ---------------- ---------- ------------------ ---------------------------------------------------------------
----------- ------------------------------------------------- ------------------------------ Total(Enter here and as item 29, page 1)---- $-------------------------------
Un.
N.. Schedule K.-SPECULL DEDUCTIONS. (See Instruction 32 (b))
1. Deduction for partially tax-exempt interest (fine 2 (a) in column 3 of Schedule C-1) .................................... $ ----------------------------
2. Dividends received deductions:
(a) 85% of column 2, Schedule C ....................................................... Fs-- ---------_-------------
(b) 62.115% of column 3, Schedule C ..................................................
W 85% of dividends received from certain foreign corporations ............................
3. Total dividends received deductions (eum of lines 2 (a), (b), and (c), but not to exceed 85 percent of the excess of item 31, page
1, over the sum of lines I and 5 of this Schedule) ................................................................
4. Deduction for dividends paid on certain preferred stocks of public utilities .............................................
5. Deduction for Western Hemisphere trade corporations ..............................................................
6. Total special deductions (Enter as item 32 (b), page 1) ............................................................. 1$
TAX COMPUTATION FOR CALENDAR YEAR 1954 AND TAXABLE YEARS ENDING ON OR BEFORE MARCH 31, 1955
F~,.th-t-,Lbl."-.ft.~hS~h.dul.IlZOrY. (S-t-pt.t1..i-~.ti-)
7. Item 33, page 1, $ ------------------------_- plus line 1. Schedule K, above $------------------------ (Enter total here) ........... $
8. If amount of line 7 is:
(a) Not over $25,000; enter 30 percent of line 7 (32 percent if a consolidated return) ................................. $ --- --_-----------_-------
(b) Over $25,000; enter 52 percent of line 7 (54 percent if a consolidated return) ............ $ ------------------------------
Subtract $5,500, and enter difference ............................................. $ ------- ...............
9. Less: Adjustment for partially tax-exempt interest; enter 30 percent of line 1, Schedule K, above, but not in excess of 30
percent of line 7..................................................................................
10. Normal tax and surtax (sum of hues 8 and 9) ............................................................ $
11. Total tax aine 10, or line 20 of separate Schedule D). Enter here and as item 34, page I ...............................
ADDITIONAL INFORMATION REQUIRED
1. Is this the corporation's first return? 7. Is the corporation a cooperative association?

(Answer "Yed' or "No.") ................................ (Answer "Yes" or "No.") ................................ ...........
If "Yes," check whether- If "Yes," check whether-
(a) El completely now business, or (a) El farmers' marketing or a farmers' purchasing
cooperative association,
W El successor to previously existing business, which was M 0 consumers' cooperative association, or
organized as
(c) El other cooperative association.
(1) a corporation, 8. Check whether this return was prepared by the
(2) a partnership, (a) 0 cash method,
(3) sole proprietorship, or (b) El accrual method, or
(4) C1 other (indicate) ----------------- ------------------------- ------ W El other. If other method used, explain -------------------_ ----------
If successor to previously existing business, give name and address ------------------- --------------------------------------------------------------------
of the previous business organization.
9. Did the corporation use inventories at the end of the taxable
----------------------------------------------------------------------------------------- year?
------------------------------------------------------------------------------------------ (Answer "Yes" or "No.").. .......................... ...........
2. District Director's office where the corporation!s return for the preceding If "Yes," check method usea_-
year was filed ----------------------------------------------------------------------- wo cost,
M El cost or market, whichever is lower;
3. Enter amount of income (or deficit) from item
(c) 0 last-in, first-out,
32, page 1, Form 1120 for 1953 ............ $--------- --------------------
W F1 Other. (If other method is used, explain fully in sepa.
4. The corporation!s books are in care of .----------------------------------------- rate statement, giving date inventory was last recon.
-------------------------------------------- ---------------------------- ---------------- ciled with stock.) (See Specific Instruction 2.)
Located at ------------------------------------ ---------- ----------------------- 10. Did the corporation pay social security taxes for any employees
for any quarter of 19S4?
------------------------------------------------------------------------------------------ Answer "Yes" or "No.") ................................ ...........
Y answer is "Yes"-
S. Is the corporation a personal holding company within the Enter employer identification number(s),
meaning of section 542 of the Internal Revenue Code? if an
(Answer "Yes" or "No.") ................................. ........ 11. Did le corporation make a return of information on Forms
1096 and 1099 for the calendar year 1954? (See General
If "Yes," attach appropriate Schedule 1120 PH. See Instructions. Instruction G-(I).) (Answer "Yes" or "No.") .............. .....
8. If this is not a consolidated return 12. Has any transaction described in General Instruction G-(3)
occurred on or after January 1, 1951? (Answer "Yes" or
(a) did the corporation at any time during the taxable year "No.") ................................................ ...........
own 50 percent or more of the voting stock of another 13. Did the corporation, during the taxable year, have any can.
corporation either domestic or foreign? tracts or subcontracts subject to the Renegotiation Act of 1951?
(Answer "Yes" or "No.") .............................. ......... (Answer "Yes" or "No.") ................................ .........
(b) did any corporation, individual, partnership, trust, or If answer is "Yes," state the approximate aggregate gross
association at any time during the taxable year own 50 dollar amount billed during the taxable year ander all such
percent or more of the corporation's voting stock? contracts and/or subcontracts. (See General Instruction
(A~nswer "Yes" or "No.") ............................. ........... G-(Q.) .................................. $----------------------------
14. Did the corporation at any time during the taxable year own
(If either answer is "Yes," attach se arate schedule sho ing: (1) directly or indirectly any stock of a foreign corporation?
Name and address; (2) percentage oTstock owned; (3) date stock (Answer "Yes" or "No.") ................................ ...........
was acquired; and (4) the District Director's office in which the income
tax return of such r oration, individual, partnership, trust, or associ- If answer is "Yes," attach statement as required by General
ation for the last tmle yew was filed.) Instruction K
dg~-16 70830-1
Fitts 4
Seb"Itak L-RALANOM SEEM. (Sone ionellumotionam)
Issloolas d Tax" Tom End of Taxable Yeaf
ABSZWS Amount Tsui Amount Total
1. cash ..................................... $ ------ m- --- -----------

2. Notes and accounts receivable ............... $-----__-_----------_---
(a) Laos: R~rvo for bad debts ...........
3. inventories:
(a) Other than load-in, ar"ut .............. $ ---_-----------_---------- $_ --------_-------- ------
(b) Lart-im, first-out ............... I ...... I .
4. h"aid expenses and suppli. ..............
S. In
(~~sn,b
0 ltq on
Ltions
in of
G obligations:
pop
or
political subdivision of any of the
going, or of the District of Columbia .... 6....... ............ ------- $ ------- ---------------------
(b) Obligations of the United States and its
instrumentalthas .....................
6. Other investments (Attach schedule) ..........
7. Buildings and other fixed depreciable assets: $ ----------------- -------- $ ------- ---------__ ------
(a) Lou: Accumulated amortization in lieu of
depreciation .....................
(Line 7 loss line 7(a)) ........ Ii----------------------------- $ ------__---w_ ---- -------
(b) ten: Actumulated depreciation ..........
B. Dopletable assets .......................... $------------------------------ $ ------------------------------
(a) Less: Accumulated depletion ............
9. Land (not of any amortization) ..............
10. Intangible asse4s (amortizable only) .......... $ ----------------------------_ $ ------------------------------
(a) Lose: Accumulated amortization ..........
11. Other assets (Attach schedule) ..............

12. Total Assets ......................... El
LIAMMITIES AND UPITAL
13. Accounts payable ......................... $--------- -- ---------------- $ ----------------------------
14. Bonds, notes, and mortgages payable (matur-
ing less than one year from date of balance
sh"t) ..................................
is. Accrued expenses (Attach schedule) ......... ------ ------------------------
16. Reserves for estimated expenses (Attach
schedule) ............................... --------------------- ---------
17. Bonds, notes, and mortga yable (matur.
Ing more than me yew Mfdal Its Of balance
ghost) ..... ............................ -1.1------------- -----------------------------
18. Prepaid income (Attach schedule) ............ ------------ a ---
19. Other liabilities (Attach schedule)............ -------------------------------
20. Capital stock: Enter number as at end oZfjera:-
Shares Shoreh
(a) Preferred stock ---------- -------------------- $------ -_------------------- $------------------------------

(b) Common stock ---------- -------------------- ------------------------------ -------------------------------
21. Paid-in or capital surplus .................... ------------------------------ -------------------------------
22. Surplus reserves (Aflach schedule) ......... -------------------- ---------- -------------------------------
23. Earned surplus and undivided profits ..........
24. Total Liabilities and Capital ............
Behedul[a M.-RECONCILIATION OF TAXABLE INCOM AND ANALTSIS Or MARKED SURPLUS AND UNDIVIDED PROFITS
1. Total distributions to stockholders ohiarged to 14. Earned surplus and undivided profits bt end.
earned surplus during the taxable yew: of preceding taxable year (Schedule L) ... $-----------------------------
(a) Cash ................................. $-------------- --------------
13. Taxable income before not operating low
(b) Stock of the corporation ................. ---------- -------------------- deduction and special deductions (Item 3 1,
(c) Other property ......................... ............... -------------- page 1) ..............................
2. Contributions in excess of 5 % limitation ....... ------------------------------- 16. Nontaxable interest on:
3. Federal income and excess profits taxes ....... --------------------------- (a) Obligations of a State, Territory, or a
possession of the United States, or any
political subdivision of any of the fare.
4. Income to"@ of foreign countries or United going, or of the District of Columbia ...
States possessions if claimed as a credit in
whole or in part in item 35, page 1 ...
S. insurance premiums paid an the life of'any * '' * W Obligations of the United States issued
officer or employ" where the corporation on or before Sept. 1, 1917; oil pestal
in directly or indirectly a beneficiary ....... savings bond ......................
6. Unallowable interest incurred to purchase or

carry tax-exempt Interest obligations ...... ------------------------------- 17. Other nontaxable income (Attach schedule). ------------- --------------
7. Excess of capital losses over capital gains ..... ------------------------------- 18. Charges against surplus reserves deducted
8. Additions to surplus reserves (Attach schedule)-- ------------------------------- from income in the return (Attac~ schedule) --------------- ---------------
9. Other unallowable deductions (Attach ached- 19. Adjustments for tax purposes not recorded
ule) .................................... on books (Attach schedule) ............. -------------------------------
10. Adiuotments for tax purposes not recorded ou 20. Sundry credits to earned surplus (Attach
books (Attach schedule) .................. schedule) ............................
11. Sundry debits to earned surplus (Attach

schedule) ...............................
12. Earned surplus and undivided profits at close

of the taxable yew (Schedule L) ...........
13. Total of lines I to 12 .................... 11 21. Total of lines 14 to 20 ........... ..... 1 $
a. 9. noveimmm MON. -It. .91-16--70IM-1
PAGE 1
How To Prepare Your 1954 Corp -L-oration

Income Tax ReturnON FORM 1120 (Refe,e.ces are to the Internal Revenue
Code of 1954, unless otherwise indicated)
GENERAL INSTRUCTIONS
A., Corporations required to make a return on Form 1120.- while deductions are taken in the year in which there is first estab-
Every domestic and every resident foreign corporation not ex- lished a specific liability, the amount of which can be ascertained
pressly exempt from taxation under chapter I (Section 501), with reasonable accuracy. Where the right to income or the
whether or not having any taxable income, must file a return. liability for expense is uncertain, or the amount of such income
The term "corporation" is defined by the Code to include associ- or expense cannot be ascertained with reasonable accuracy, accrual
ations, joint-stock companies, and insurance companies. is generally postponed until a determination is possible.
Partnerships and proprietorships may elect to be taxed as
domestic corporations if an election is made. not later than 60 Other methods.-Separate provisions are contained in section
days after the close of the taxable year and if.certain qualifications 453 for installment method of accounting. For other information
are met. (Section 1361.) If the return is filed by a proprietor. on accounting methods, see your District Director.
ship or partnership, electing to be taxed as a corporation under C-(2). Special items.
section 1361, it must be signed by the proprietor or a partner.
If a receiver, trustee in dissolution, trustee in bankruptcy, or Prepaid income.-Prepaid income is income (other than income
assignee has possession of or holds title to all or substantially all treated as gain from the sale or other disposition of a capital asset)
the property or business of a corporation, whether or not the received in a transaction ih which a taxpayer assumes a liability
property or business is being operated, he must make a return of (to render services, furnish godds or other property, or allow the
income for the corporation in the same manner and form required use of property) which extends beyond the end of the taxable
of other corporations. (Section 6o 12.) year. A taxpayer receiving such income may elect, with respect
A mutual savings bank not having capital stock represented to each separate trade or business, to take it into account in por-
by shares; a domestic building and loan association, a domestic tions in the year of receipt and subsequent taxable years (not to
savings and loan association, a Federal savings and loan associa- exceed five except with the consent of the Commissioner) to which
tion, substantially all the business of which is confined to making the liability extends. This may be done only when the method
loans to members; and a cooperative bank without capital stock, of accounting used in the trade or business in connection with
operated for mutual purposes and without profit, are subject which such income arises is other than the cash receipts and dis-
to income tax and must file returns. bursements method. The election, when made, will apply to all
B. Period to be covered by return.-Returns shall be filed for. prepaid income of the particular trade or business with respect to
the calendar year 1954 or fiscal year beginning in 1954 and ending which it is made. A taxpayer desiring to defer prepaid income to
in 1955. A fiscal year is an accounting period of 12 months subsequent taxable years will elect to do so by attaching to its
ending on the last day of a calendar month other than December, return a statement indicating that the election is being made and
but if a taxpayer has made the election provided in section 441' (f), showing: (a)- the method of accounting used in the business for
the term "fiscal year" means an annual period varying from 52 which the election is made; (b) the nature of each item of prepaid
to 53 weeks. If a taxpayer has no annual accounting period, or income; (c) the period over which the liability extends; rd) the
keeps no books, or has an accounting period which does not amount of income to be taken into account in the present and in
qualify as a fiscal year, the return must be filed for the calendar each future taxable year; and (e) the method of allocating to
year, except as provided in section 443. taxable years. The amount of prepaid income deferred to later
For the procedure to follow in changing an established account- taxable years will be entered on line 18 of Schedule L.
ing period, see your District Director. Estimated expenses.-Estimated expenses are those expenses,
C-(1). Accounting methods.-Taxable income shall be com- part or all of which would, under section 461, be taken into
puted in accordance with the method of accounting regularly used accourit in some subsequent taxable year but which will, when
by the taxpayer in maintaining its books and records. In all cases incurred, be attributable to income received in the present taxable
the method adopted should clearly reflect taxable income. The year and which can, in the opinion of the Commissioner, be esti-
basic methods of accounting are the "cash receipts and disburse- mated with reasonable accuracy. These do not include deductions:
ments method" and the "accrual method." Section 446 permits (a) attributable to income of a taxable year prior to the one
the use of these methods or any other method permitted under the in which an election to claim estimated expenses is first made;
Code or any combination of these methods in accordance with reg- (b) attributable to prepaid income with respect to which the
uIations. If a taxpayer engages in more than one trade or business, taxpayer has made an election under section 452; or (c) allow.
it may, with respect to each trade or business, use a different able as an addition to a reserve for bad debts under section 166.
method of accounting. Each method must, however, clearly A taxpayer having estimated expenses may elect, with respect to
reflect the income of the particular trade or business with which each separate trade or business, to take into account in computing
it is used, and separate profit and loss statements for each trade or taxable income a reasonable addition to a reserve for these ex-
business must be submitted. Except in those cases where the law penses. This may be done only when the method of accounting
specifically permits' it, a taxpayer may not change the method used in the trade or business in connection with which such
of accounting upon the basis of which it has reported its income in estimated expenses arise is other than the cash receipts and dis-
prior years (for its income as a whole or with respect to any sepa- bursements method. The election, when made, will apply to all
rate trade or business) without first securing consent. For proced- estimated expenses of the particular trade or business with respect
ure to be followed in securing consent, see your District Director. to which it is made. A taxpayer desiring to deduct additions to
Cash receipts and disbursements method.-Under this method, reserves for estimated expenses will elect to do so by attaching to
a taxpayer includes all items of taxable income (whether cash, its return a statement indicating that the election is being made
property, or services) in the year when it is actually or construc- and showing: (a) the method of accounting employed in the
tively received and claims as deductible expenses only those business for which the election is made; (b) the nature of the
expenses actually paid. Income is constructively received when estimated expenses; (c) whether the estimated expense is on
the amount is credited to the taxpayer's account, or set aside account of a guaranty or warranty contract and the period of
for it, and is unconditionally subject to its command. This in- time for which such contracts extend; and (d) a schedule show-
cludes uncashed checks, bank interest credited, matured bond ing in detail the manner in which the estimated expense with
coupons, and other similar items which can be immediately turned respect to the taxable year was computed. The reserves for
into cash. Do not deduct capital expenditures. estimated expenses will be entered on line 16 of ScfieduIc L.
Accrual method.-Under this method income is reported in Expenses attributable to income received in a taxable year prior
the year when the taxpayer first has a definite right to income, to that in which the above election is made are deductible in
the amount of which can be* ascertained with reasonable accuracy the year in which incurred.
c~16-70924-1
PAGE 2
D. Filing of return and payment of tax-Returns of domestic G-(3). Certain transfers of property on or after January 1,
and resident foreign corporations must be filed on or before the 1951-Under certain circumstances the $25,000 exemption from
15th day of the third month following the close of the taxable surtax and the $60,000 accumulated earnings credit arc not
year with the District Director of Internal Revenue for the district allowed or may be reduced to a lesser figure. Section 1551 pro-
in which the corporation's principal place of business or principal vides that if a corporation on or after January 1, 1951, transfers
office or agency is located. Returns of exempt cooperative associ- all or part of its property (other than money) to another corpora-
ations taxable under section 522 must be filed on or before the tion which was created for the purpose of acquiring such property
15th day of the 9th month following the close of the taxable or which was not actively engaged in business at the time of such
year. (Section 6072.) acquisition and if after such transfer the transferor corporation or
Request for automatic extension of 3 months for filing of return its stockholders, or both, are in control of such transferee corpora-
must be made on Form 7004. (Section 6081 (b).) tion during any part of the taxable year of such transferee cor-
poration, the transferee corporation shall not for such taxable year
The tax must be paid in full when the return is filed or in (except as may be otherwise determined under section 269 (b) )
two installments, 50 percent on or before the 15th day of the be allowed either the $25,000 exemption from surtax provided in
third month and 50 percent on or before the 15th day of the section 11 (c) or the $60,000 accumulated earnings credit pro-
sixth month following the close of the taxable year. vided in section 535 (c), unless such transferee corporation shall
If any installment is not paid on or before the date fixed for establish by clear preponderance of the evidence that the securing
its payment, the whole amount of the tax unpaid shall be paid of such exemption or credit was not a major purpose of such
upon notice and demand by the District Director. The tax may transfer. For this purpose control means the ownership of stock
be paid in cash or by check or money order drawn to the order possessing at least 80 percent of the total, combined voting power
of "District Director, 1. R. S." Cash payment should be made of all classes of stock entitled to vote or at least 80 percent of the
only in person at the District Director's office. total value of shares of all classes of stock of the corporation.
Effective for taxable years ending on or after December 31, 1955, Rules are provided in sections 544 and 1551 for determining own-
section 6016 provides that a corporation subject to income tax ership of stock. For allocation of the surtax exemption and the
shall make a declaration of estimated tax for the taxable year accumulated earnings credit in certain cases, see section 269 (b).
if its income tax liability for such taxable year, reduced by the G-(4). Information regarding renegotiable contracts.-Every
amount which the corporation estimates as the sum of any credits corporation which held, during the taxable year, contracts or sub-
against tax provided by the 1934 Code, can reasonably be expected contracts which were subject to the Renegotiation Act of 1951
to exceed $100,000. Filing requirements will not become effective shall, in answer to question 13, page 3, state the actual or, if not
until September of 1955. Before that time instructions and forms accurately determinable, its best estimate of the aggregate gross
will be made available. dollar amount billed during the current taxable year under all con-
E. Signature and verificatiop.-The return must be signed either tracts and/or subcontracts.
by the president, vice-president, treasurer, a$sistant treasurer or
chief accounting officer, or by any other corporate officer author- H. Returns of certain corporations. Domestic corporations
ized to sign. A receiver, trustee, or assignee must sign any return entitled to benefits of section 931.-Domestic corporations within
which he is required to file on behalf of a corporation. The the possessions of the United States (except the Virgin Islands)
statement at the bottom of page I of the return is required to be may report as gross income only gross income from sources within
signed by any person, firm, or corporation who prepared the tax- !he United States, provided (a) 80 percent or more of the gross
payer's return. If the return is prepared by a firm or corporation, income for the 3-year period immediately preceding the close of
it should be signed in the.narne of the firm or corporation. The the taxable year (or such part thereof as may be applicable) was
derived from sources within a possession of the United States, and
statement is not required if the return is prepared by a regular, (b) 50 percent or more of the gross income for such period or
full-time employee.
such part thereof was derived from the active conduct of a trade
F. Failure to file, etc.-Substantial additions to the tax are or business within a possession of the United States.
imposed for failing to file a return, for late filing, and for filing
a false or fraudulent return. Resident foreign corporations.-Foreign corporations which at
any time within the taxable year are engaged in trade or business
G-(1). Information at the source.-Every corporation making within the United States shall make returns on Form 1120 of
payments in the course of its trade or business of ( 1 ) interest, income derived from sources within the United States. (Section
rents, commissions, or other fixed or determinable income of 882.)
$600 or more during the calendar year 1954 to an individual,
a partnership, or a fiduciary, or (2) salaries or wages of $600 Nonresident foreign corporattons.-Foreign corporations not
or more shall make returns on Forms 1096 and 1099, except that engaged in trade or business within the United States at any time
the making of such return will not be required with respect to within the taxable year are subject to tax upon gross income from
salary or wage payments included on Form W-2, provided copies sources within the United States (determined under the provisions
of withholding statements on Form W-2 are furnished. If a por- of sections 861 through 864) consisting of fixed or determinable
tion of such salary or wage payments was reported on a With- annual or periodical income and of certain gains derived from
holding Statement (Form W-2), only the remainder must be the disposal of timber and coal. They are required to make
reported on Form 1099. returns on Form 1120NB with respect to such inrQm.f only in the
event their tax liability has not been fully satisfied at the source.
Except as stated below, the returns on Forms 1096 and 1099
shall also include dividend payments totaling $10 or more during Insurance companies.-Life insurance companies subject to
the calendar year 1954 to.each shareholder who is an individual tax imposed by section 802 shall make returns on Form 1120L.
(citizen or resident of the United States), a resident fiduciary, or Mutual insurance companies subject to tax imposed by section 821
a resident partnership any member of which is a citizen or resident. shall make returns on Form 1120M. Insurance companies de-
In the case of a building and loan association, a cooperative bank, scribed in section 831, and mutual savings banks described in
a homestead association, a credit union, or a savings and loan asso- section 594 and conducting life insurance business, shall make
ciation, such total shall be $600 or more. In the case of d cor- returns on Form 1120. There should be filed with the return
poration described in sections 501 (c) (12), (15), (16), 521 and a copy of the 1954 annual statement approved by the National
522, or in the case of a national farm loan association or a produc- Convention of Insurance Commissioners which contains the under-
tion credit association, such total shall be $100 or more. writing and investment exhibit.
The returns on Forms 1096 and 1099 shall also include (except Regulated investment companies.-If for any given year the
in the case of insurance companies taxable under Subchapter L investment company satisfies the requirements of section 851 it
and corporations exempt under section 501 *(c) (12) or (15)) will be considered a regulated investment company. (See Tax
patronage dividends, rebates, and refunds totaling $100 or more Computation Instructions, item 8.)
during the calendar year 1954, whether in cash, merchandise,
capital stock, revolving fund certificates, retain certificates, certifi- Personal holding companies.-Section 541 imposes a tax upon
cates of indebtedness, letters of advice, or in some other manner. the undistributed personal holding company income (as defined
in section 545) of corporations classified as personal holding
G-(2). Information regarding dissolution or liquidation.- companies. Every personal holding company must file a schedule
Every corporation shall, within 30 days after the adoption by the
corporation of a resolution or plan for the dissolution of the cor- 1120PH with its return.
poration or for the liquidation of the whole or any part of its Under the provisions of section 542, a corporation is a "personal
capital stock, render a correct return on Form 966 setting forth holding company" if at least 80 percent of its gross income for the
the terms of such resolution or plan. taxable year is personal holding company income as defined in
Every corporation making distributions in liquidation of the section 543, and if at any time during the last half of the taxable
whole or any part of its capital stock shall also make returns on year more than 50 percent in value of its outstanding stock is
Forms 1096 and 1099L, as required by instructions on Form 1096, owned, directly or indirectly, by or for not more than five indi-
viduals. (Sections 541-547.) car-M-70924-1
for the calendar year 1954.
PAGE 3
Foreign personal holding companies.-Section 551 (a) requires enabling shareholders to avoid the tax on individuals, section 531
that the undistributed foreign personal holding company income provides an additional tax upon the accumulated taxable income
of a foreign personal holding company, as defined in section 552, of corporations
' formed or availed of for the purpose of such tax
shall be included as a dividend in the gross income of the United avoidance.
States shareholders in the amount provided by subsection (b). K. Stock ownership in foreign corporations.-In addition to the
Schedule 1120PH is not required, but monthly and annual infor- information to be shown in Schedule C of the return, a corporation
mation returns on Forms 957 and 958 must be filed by the officers, owning any stock of a foreign corporation must attach a statement
-directors, and certain United States shareholders as provided by showing the name and address of each company and the total
sections 6035 (a) and (b). number of shares of each class of outstanding stock owned during
A foreign corporation which is a personal holding company, as the taxable year. If the corporation owned 5 percent or more in
defined in section'542 but not within the definition of section 552, value of the outstanding stock of a foreign personal holding com-
is subject to the tax imposed by section 541 on undistributed per- pany, attach a statement setting forth in complete detail the infor-
sonal holding company income and must file a schedule 1120PH mation required by section 551 (d).
with its return. L. Balance sheets.-The balance sheets, Schedule L, should
1. Consolidated returns.-Subject to the provisions of sections agree with the books of account or any differences should be recon-
1501 through 1552 and the regulations, an affiliated group of cor- ciled. The balance sheets for a consolidated return of affiliated
porations may make a consolidated income tax return in lieu of corporations should be-furnished in accordance with Instruction 1.
separate returns. The making of a consolidated return shall be All corporations reporting to the Interstate Commerce Commis-
upon the condition that all corporations which at any time during sion or to any National, State, municipal, or other public officer,
the taxable year have been members of the affiliated group consent may submit, in lieu of Schedule L, copies of their balance sheets
to all the consolidated return regulations prescribed under section prescribed by such authorities as at the beginning and end of the
1502 prior to the last day prescribed by law for the filing of such taxable year.
return. The common parent corporation, when filing a consoli- I Line 9, Schedule L, should show land less any accumulated
dated return, shall attach thereto a schedule showing the names
and addresses of all the corporations included in the return. Form amortization of the land as an emergency facility under the author-
851, Affiliations Schedule, should be obtained from the District ity of sections 124 and 124A of the Internal Revenue Code of
Director of Internal Revenue and filed as a part of the return. 1939 or section 168 of the Jnternal Revenue Code of 1954.
Each subsidiary must prepare two duplicate originals of Form 11 22 Line 16, Schedule L, should include those reserves accumulated
authorizing the making of the return on its behalf. One such form by charges made under the election provided in section 462, and
shall be attached to the consolidated return as a part thereof, and only such reserves. A taxpayer who does not make, or is not quali-
the other shall be filed, at or before the time the consolidated fied to make, such an election but who has set up accounts for esti-
return is filed, in the office of the District Director for the sub- mated expenses should include the total of such reserves in line 22,
sidiary's district. Schedule L (surplus reserves). (See instruction G-(2).)
Supporting schedules shall be filed with the consolidated return. Line 18, Schedule L, should reflect only those items of prepaid
These schedules shall be prepared in columnar form, one column income deferred for reporting in subsequent taxable years under
being provided for each corporation included in the consolidation, the election provided by section 452. Other income items classi-
showing in detail the items of gross income and deductions and fied by the taxpayer for financial accounting purposes as prepaid
the computation of taxable income; one column for a total of like income (including installment sales profits deferred under section
items before adjustments are made; one column for intercompany 453) should be included either in line 19, or line 22, Schedule L.
eliminatiom and adjustments; and one column for a total of like (See instruction C-(2).)
items after giving effect to the eliminations and adjustments. The M. Forms other than prescribed by return.-Banks, insurance
items included in the column for eliminations and adjustments companies, and other corporations required to submit statements
should be symbolized to identify contra items affected, and suitable of income and expenses to any National, State, municipal, or other
explanations appended, if necessary. Similar schedules shall also public officer may submit with the return a statement of income
contain in columnar form a reconciliation of surplus for each cor- and expenses in the form furnished to such officer, in lieu of the
poration, together with a reconciliation of the consolidated surplus. information requested in items I to 33, page 1, except that a rail-
Consolidated balance sheets as of the beginning and close of the road company may submit with the return a statement on Form
taxable year of the group.shall accompany the consolidated return 1090. In such cases the taxable income will be reconciled by
in a form similar to that required for reconciliation of surplus. means of Schedule M with the net profit shown by the income and
J. Tax on improperly ' accumulated earnings.-In order to pre- expense statement submitted, and should be entered as item 33,
vent accumulation of earnings and profits for the purpose of page 1.
SPECIFIC INSTRUCTIONS (Numbered to correspond with item numbers on page I of return)

2. Cost of goods sold.-If the production, manufacture, pur- 10. Interest on obligations of the United States, etc.-Enter
chase, or sale of merchandise is an, income-determining factor in from column 3, Schedule C-1, the total of lines 2 (a) and 2 (b).
the trade or business, inventories of merchandise on-hand should Also enter in Schedule L, the amounts of the various obligations
be taken at the beginning and end of the taxable year, and may owned. Enter on line 16., Schedule M, all interest received or
be valued at cost, or at cost or market, whichever is lower, or by accrued during the year on the various obligations listed therein.
any other permissible method. The total amount of interest reported on line 2 (a) in column 3 of
An inventory method once properly adopted is controlling until Schedule C-1, page 2, is also allowable as a deduction. See para-
permission to change is obtained from the Commissioner. Appli- graph 32 (b) of these instructions. The amount of interest re-
cation for permission to change an inventory method shall be ceived or accrued on obligations issued on or after March 1, 1941,
made in writing and filed with the Commissioner within 90 days by the United States or any agency or instrumentality thereof
after the beginning of the taxable year in which it is desired to should be entered on line 2 (b), Schedule C-1. For provisions
effect a change. In case the inventories reported do not agree with relating to amortizable bond premium, see section 171.
the balance sheet, attach a statement
" explaining the difference. For special rules applicable to dealers in securities, with respect
A corporation electing to use the last-in, first-out method of to premium attributable to certain tax-exempt securities, see sec-
valuing inventory provided for in section 472 must file Form 970 tion 75.
with the return for the first year of the election. Thereafter,
attach separate schedule showing: (1) a summary of all inven- Non-interest-bearing obligations issued at a discount.-Tax-
tories; (2) with respect to any inventories computed under section payers on the cash basis may elect, as to all non-interest-bearing
472, the computation of the quantities and cost by acquistion 9bligations issued at a discount and redeemable for fixed amounts
levels. increasing at stated intervals (for example, United States Savings
9. Interest on corporation bonds, etc.-Enter net amount of Bonds), to include the increase in redemption price applicable to
interest from column 3, line 1, of Schedule C-1, page 2, on bonds, the current year. For the year of election the total increase in
debentures, notes, or certificates or other evidences of indebtedness, redemption price of such 66ligations occurring between the date
issued bX any corporation and bearing interest, with interest cou- of acquisition and the end of the year must be included. Attach
pons or in registered form. Do not include interest on any such statement listing obligations owned and computation of the in-
obligations which constitute stock in trade of the taxpayer or any crease. (Section 454.)
such obligations of a kind which would properly be included in the 11. Rents-Enter the gross amount received for the rent of
inventory of the taxpayer if on hand at the close of the taxable property. Any expenses, including repairs, interest, taxes, and
year, or any such obligations held by the taxpayer primarily for depreciation, should be included in the proper items of deductions
sale to customers in tl~e ordinary course of.his trade or business. on page 1. In the case of a lease entered into prior to January 1,
Such interest should be entered in item 8. For provisions relating 1954, if both lessor and lessee are corporations and if under the
to amortizable bond premium,. see section 17 1. lease the lessee is obligated to pay any part of the lessor's income
ow-16-70924-1
PAGE 4
tax on the rental payment, this tax is excluded from lessor's gross part of their net earnings inures to the benefit of any private share-
income and and may not be deducted by lessee. (Section 110.) holder or individual; or (4) nonprofit cemetery or burial com-
12. Royal ties.-Enter the gross amount received as royalties. If panies. The amount claimed shall not exceed 5 per-cent of the
a deduction is claimed for depletion, it must be reported in item corporation's taxable income computed without regard to ( I )
26, page 1. this deduction, (2) the "special deductions" in Schedule K and
13. Gains and losses from sales or exchanges of capital assets (3) any net operating loss carryback to the taxable year under
and other property.-The computation of gains and losses from section 172.
sales or exchanges of capital assets and property other than capital In the case of a corporation on the accrual basis, any contribu-
assets should be made on separate Schedule D. Every sale or tion or gift will, at the election of the taxpayer, made at the time
exchange of property, even though no gain or loss is indicated, the return is filed, be considered as paid during the taxable year
must be reported in detail. If for any taxable year the net long- if payment is actually made on or before the fifteenth day of the
term capital gain exceeds the net short-term capital loss, or in third month following the close of the taxable year, and if the
case of only a net long-term capital gain, a computation of the contribution or gift has during the taxable year been authorized
alternative tax should be made on separate Schedule D. by the board of directors of the corporation. A copy of such
14. Other income.-Enter total amount of other income not authorization must be attached to the return. Do not deduct as
reported elsewhere in the return and attach schedule showing a business expense charitable contributions which come within the
details. above description, but which are unallowable in whole or in part
18. Rent.-Enter rent paid or accrued for business property in because of the limitation contained in section 170.
which the corporation has no equity. With respect to leases en- Any contributions paid during the taxable year in excess of the
tered into prior to January 1, 1954, see instruction No. 11. amount deductible may be carried over and deducted in the two
19. Repairs.-Enter the cost of incidental repairs, including succeeding taxable years subject to the 5 percent limitation pro-
labor, supplies, and other items, which do not add to the value or vided in section 170 (b) (2).
appreciably prolong the life of the property. Expenditures for 24. Losses by fire, storm, shipwreck, or other casualty, or theft.-
new buildings, machinery, equipment, or for permanent improve- Enter losses sustained during the year, arising from fire, storm,
ments or betterments which increase the value of the property are shipwreck, or other casualty. The amount deductible is based on
chargeable to capital account. the difference between the fair market value of the property dam-
20. Bad debts.-Bad debts may be treated in either of two aged or destroyed immediately before the casualty and the fair
ways-(I) by a deduction from income in respect of debts which market value immediately after the casualty. This difference or
become worthless in whole or in part, or (2) by a deduction from the adjusted basis, whichever is less, should then be reduced by any
income of a reasonable addition to a reserve for bad debts. (Sec- insurance or other reimbursement to arrive at the deductible loss.
tion 166.) Theft losses are deductible only in the year in which discovered.
A taxpa,yer filing a first return of income may select either of
the two methods,
' and that method must be followed for subse- 25. Depreciation and amortization.-The summary of deprecia-
tion and amortization allowances shown in lines I to 12 of Sched-
quent years, unless permission is granted by the Commissioner ule I of the return must be supported by detailed schedules giving
to change to the other method. Application for permission to
change the method shall be made in writing at least 30 days prior information necessary to sustain the allowances claimed. These
to the close of the taxable year for which it is desired to effect schedules must include: description of the property or expendi-
the change. tures; date of acquisition of the property or dates of expenditures;
Worthless debts arising from unpaid rents, and similar items of the cost or other basis of the asset, or the unamortized amount
taxable income, will not be allowed as a deduction unless the of the expenditures in the case of organizational, research and
income such items represent has been included in the return of experimental, and exploration and development expenditures; the
amount of depreciation or amortization allowed and allowable in
income for the year for which the bad debt deduction is claimed,
or for a previous year. prior years; the method under which the depreciation allowance
For treatment of bad debts of a mutual savings bank not having is being claimed; rate of depreciation, expected useful life, or
capital stock represented by shares, a domestic building and loan amortizable period over which such expenditures are to be ratably
association, and a cooperative bank without capital stock origanized deducted, or units used as the basis for amortization; and deprecia-
and operated for mutual purposes and without profit, see section tion or amortization allowance this year.
593 and the regulations thereunder. Depreciation.-A reasonable allowance for the exhaustion,
21. Interest.-Enter interest paid or accrued on business indebt- wear and tear, and obsolescence of property used in the trade
edness. Do not include in item 21 interest on indebtedness or business or of property held by the taxpaver for the production
incurred or continued to purchase or carry obligations (other than of income shall be allowed as a depreciaiion deduction. The
obligations of the United States issued after September 24, 1917, allowance does not -apply to inventories or stock-in-trade nor to
and originally subscribed for by the taxpayer) the interest on land apart from the improvements or physical development added
which is wholly exempt from income tax. (Section 265.) to it. Depreciation on leasehold irnprove'ments, patents and copy-
See section 267 for limitation on deductions for unpaid expenses rights shall be included in Part A, Schedule I.
and interest in the case of transactions between related taxpayers. The useful life of an asset can be measured in units of pro-
22. Taxes.-Enter taxes paid or accrued during the taxable year duction or machine hours (for machinery) or in miles of operation
and fill in Schedule G. Do not include Federal income, war- (for automotive equipment), etc., but the ordinary practice is to
profits, and excess-profits taxes; estate, inheritance, legacy, succes- measure useful life in years. Business experience, engineering
sion, and gift taxes; foreign or United States possession income information, and other relevant factors provide a reasonable
taxes if any credit is claimed in item 35, page 1 ; Federal taxes basis for estimating the useful life of property. The cost (or other
paid on bonds containing a tax-free covenant, nor taxes not im- basis) to be recovered should be charged off over the expected
posed upon the taxpayer. See section 164 (d) regarding appor- useful life of the property. For guidance, comprehensive tables
tionment of taxes on real ropert between seller and purchaser. of "average useful live$ " of various kinds of buildings, machines,
23. Contributions or girls paiYfEnter contributions or gifts and equipment in many industries and businesses have been pub-
actually paid within the taxable year to or for the use of (I) a lished in a booklet called Bulletin F, which may be purchased for
State, a Territory, a possession of the United States, or any political 30 cents from the Superintendent of Documents, Government
subdivision of any of the foregoing, or the United States or Printing Office, Washington 25, D. C.
the District of Columbia for exclusively public purposes; (2) a (a) Straight line method.-The most common method of com-
corporation, trust, or community chest, fund, or foundation, created
puting depreciation is the "straight line" method. It allows for
or organized in the United States or in any possession thereof or
under the law of the United States, or of any State or Territory, the recovery of cost in equal annual amounts over the life of the
or of the District of Columbia, or of any possession of the United property, with only salvage value remaining at the end of its
States, organized and operated exclusively for religious, charitable, useful life. To compute the deduction, add the cost of improve-
ments to the cost (or other basis) of the asset and deduct both
scientific, literary, or educational purposes or the prevention of the estimated salvage value and the total depreciation allowed
cruelty to children or animals (but in the case of contributions or or allowable in past years. Divide the result by the number of
gifts to a trust, chest, fund, or foundation only if such contribu- years of useful life remaining to the asset-the quotient is the
tions or gifts are to be used within the United States or any of its
possessions exclusively for such purposes), no part of the net earn- depreciation deduction.
ings of which inures to the benefit of any private shareholder or (b) Declining balance method.-Under this method a uniform
individual, and no substantial part of the activities of which is rate is applied each year to the remaining cost or other basis of
carrying on propaganda, or otherwise attempting to influence leg- property (without adjustment for salvage value) determined at
islation; (3) posts or organizations of war veterans, or auxiliary the beginning of such year. For property acquired before Jan-
units of, or trusts or foundations for, any such posts or organiza- uary 1, 1954, or used property whenever acquired, the rate of
tions, if such posts, organizations, units, trusts, or foundations are depreciation under this method may not exceed one and one-half
organized in the United States or any of its possessions, and if no times the applicable straight-line rate.
enr-16-70024-1
PAGE 5
(c) Special rules for new assets acquired after December 31, deductions, the unamortized basis of the facility is subject to tile
1953.-The.cost or other basis of an asset acquired after Decem- depreciation provisions of law. (Section 169.)
ber 31, 1953, may be depreciated under nkethods proper in the (c) Research and experimental expenditures.-A corporation
past; or, it may be depreciated under any of the following methods may treat research or experimental expenditures paid or incurred
provided (I ) that the asset is tangible, (2) that it has an estimated by it during the taxable year as expenses not chargeable to capital
useful life of three years or more, and (3) that the original use account and may deduct them. As an alternative, such expendi-
of the asset commenced with the taxpayer and commenced after tures, if they are chargeable to capital account, may at the tax-
December 31, 1953. If an asset is constructed, reconstructed, or payer's election, be treated as deferred expenses, and amortized,
erected by the taxpayer, so much of the basis of the asset as is ratably over a period of not less than 60 months beginning with
attributable to construction, reconstruction or erection after De- the month in which the taxpayer first realizes benefits from such
ce mber 31, 1953, may be depreciated under methods proper in expenditures. However, if the property resulting from such ex-
the* past; or, it may be depreciated under any of the following penditures has a determinable useful life, the capitalized expendi-
methods provided that the asset meets qualifications (1) and (2) tures must be amortized over such life in accordance with the
above. provisions of section 167.
(1) Declining balance me(hod.-This method may be used Expenditures which are chargeable to property of a character
with a rate not in excess of twice the applicable straight-line rate. subject to an allowance for depreciation or depletion, expendi-
(2) Sum of the years-digit method.-Under this method annual tures for land, and expenditures for the purpose of ascertaining
allowances for depreciation are computed by applying changing the existence, location, extent, or quality of any deposits of ore-
fractions to the taxpayer's cost or other basis of property (reduced or other mineral (including oil or gas) are not subject to amor-
by estimated salvage). tization as deferred expenses for research and experimentation.
The deduction for each year is computed by multiplying the A corporation electing to amortize research and experimental
cost or other basis of the asset (reduced by estimated salvage expenditures may make an election by attaching a statement to
value) by the number of years of useful life remaining (including the return for the first taxable year to which the election is
the year for which the deduction is computed) and dividing the applicable. The method or period selected for such amortization
product by the sum of all the digits corresponding to the years cannot be changed unless prior approval is secured. (Section 174.)
of the estimated useful life of the asset. In the case of a 5-year (d) Exploration expenditures.-Under section 615 a corpo-
life this sum would be 15 (5 + 4 + 3 + 2 + I ). For the first year ration may deduct expenditures paid or incurred by it during the
five-fifteenths of the cost reduced by estimated salvage value would taxable year for ascertaining the existence, location, extent or
be allowable, for the second year four-fif teen ths, etc. quality of any deposit of ore or other mineral (other than oil
(3) Other methods.-A taxpayer may use any consistent method or gas) in an amount not exceeding $100,000 paid or incurred
which does not result in accumulated allowances at the end of before the beginning of the development of such deposit. At
any year greater than the total of the accumulated allowances its election it may treat such expenditures (in an amount not
which would have resulted from the use of the declining balance exceeding $100,000 in a taxable year) as deferred expenses de-
method. This limitation applies only during the first two-thirds ductible on a ratable basis- as the units of produced ores or
of the useful life of the property. minerals (discovered or explored by reason of such expenditures)
are sold. Such election must be made on the return or by filing
Amortization.-The law makes special provisions for amortiza- a statement not later than 6 months after the filing of the return,
tion of certain kinds of assets and expenditures. for any taxable year to which such election is applicable. The
(a) Emergency facilities.-A corporation is entitled at its *el ec- election shall be binding for the taxable year with respect to
tion, to a deduction with respect to the amortization of the which it is made. No further deduction or election may be taken
adjusted basis (for determining gain) of an emergency facility, or exercised under section 615 if in any four preceding years
such amortization to be based on a period of 60 months. The term (not necessarily consecutive) the taxpayer or certain transferors
"emergency facility" means any facility, land, building, machinery, of such mineral or property have been allowed a deduction or
or equipment, or any part thereof, the construction, installation, made such election. (Section 615.)
or acquisition of which was completed after December 31, 1949, (e) Development expenditures.-A corporation may deduct
and with respect to which a certificate has been issued. The expenditures paid or incurred during the taxable year for the
cost or other basis subject to amortization is limited to the portion developing of a mine or any other natural deposit (other than
thereof which has been certified as attributable to defense purposes an oil or gas well) if paid or incurred after the existence of ores
by the appropriate certifying authority. The corporation may or minerals in commercially marketable quantities has been dis-
elect to take such a deduction starting with the month following closed. At its election it may treat such expenditures as deferred
the month in which the facility is completed or acquired, or with expense deductible on a ratable basis as the units of produced
the succeeding taxable year by filing a statement with the return ores or minerals benefited by such expenditures are sold. Such
for the taxable year in which falls the first month of the period election must be made on the return or by filing a statement not
so elected. The portion of the basis qf such a facility not subject later than 6 months after filing the return for the taxable year for
to amortization may be recovered by deductions for depreciation which the election is applicable. (Section 616.)
under section 167. A corporation may elect to terminate its (f) Organizational expenditures.-A corporation may elect to
amortization deductions at any time by filing a written statement amortize expenditures which are incident to the creation of the
with the District Director of Internal Revenue. If the taxpayer corporation ratably over a period of not less than 60 months
elects to discontinue amortization deductions, the unamortized (beginning with the month in which the corporation begins busi-
basis of the facility is subject to the depreciation provisions of law. ness). These expenses must be chargeable to capital account and
(Section 168.) of a character which, if expended incident to the creation of a
(b) Grain storage facilities.-A corporation may elect to amor- corporation with limited life, would be amortizable over such life.
tize the adjusted basis (for determining gain) of a grain storage Amortization may not be taken on such expenditures paid or
facility ratably over a 60-month period. The term "grain storage incurred before August 16, 1954. Such election may be made
facility" means (1) any public grain warehouse permanently by filing a statement with the return for the year in which the
equipped for xeceiving, elevating, conditioning, and loading out election is made. The statement shall set forth the description
grain, and (2) any corncrib, grain bin, or grain elevator, or any and amount of the expenditures and the number of months over
similar structure suitable primarily for and intended for the stor- which such expenditures are to be deducted. Once a period for
age of grain produced by the taxpayer. Such term does not amortization has been selected it may not be changed. (Section
include any facility any part of which is an "emergency facility." 248.)
The amortization deduction is allowable only if the facility is (g) Election statements.-For details concerning the informa-
completed after December 31, 1952, and only with respect to tion which must be furnished in the statements of election re-
property of a character which is subject to the allowance for quired above, consult your District Director.
depreciation under section 167. If a structure is converted 26. Depletion of mines, oil and gas wells, timber, etc.-If a
through alteration or remodeling into a structure so described deduction is claimed on account of depletion, procure from the
and if the alteration or remodeling is completed after December District Director: Form M (mines and other natural deposits),
31, 1952, then such alteration or remodeling shall be treated as Form 0 (oil and gas), or Form T (timber), fill in and file with
the construction of a grain storage facility. The 60-month period return. If complete valuation data have been filed with question-
shall, at the election of the taxpayer, begin with the month follow- naire in previous years, then file with your return information
ing the month in which the facility is completed or acquired, necessary to bring your depletion schedule up to date, setting forth
or with the succeeding taxable year. The election must be made in full statement of all transactions bearing on deductions from
by a statement in the return for the year in which the period or additions to value of physical assets during the taxable year with
begins, and may be terminated at any time by filing. a written explanation of how depletion deduction for the taxable year has
statement to that effect with the District Director of Internal been determined. (Sections 611, 612, and 613.) Expenditures
Revenue. Jf the taxpayer elects to discontinue amortization to be deferred and deducted ratably under the election provided
..r-16-70924-1
PAGE 6
in sections 616 (b), relating to certain expenditures in the devel- (b) The special deductions provided in section 242 (partially
opment of mines, and 615 (b), relating to deductions for mine tax-exempt interest) and section 922 (Western Hemisphere trade
exploration, are not to be taken into account in determining the corporations are not allowed).
adjusted basis for property for the purpose of computing a deduc- (c) The special deductions allowed by section 243 (dividends
tion for depletion under section 611. received by corporations), section 244 (dividends received on cer-
28 (a). Amounts contributed under a stock bonus, pension, profit- tain preferred stock of public utilities), and section 245 (dividends
sharing or annuity plan.-Enter in item 28 (a) the total amount received from certain foreign corporations) are computed without
deductible under section 404. A corporation claiming a deduction regard to the limitation provided in section 246 (b).
under section 404 must submit with its return, in addition to the (d) The special deduction allowed by section 247 (dividends
information specified in the regulations concerning such deduction, paid on certain preferred stock of public utilities) is computed
a statement with respect to each plan showing the type of plan, without regard to the provisions of subsection (a) (1) (B) of such I
i. e., pension, annuity, profit-sharing, stock bonus, or other plan section.

deferring the receipt of compensation, whether or not the plan is As stated, the net operating loss deduction is the sum of the
qualified under section 401 (a), and if trusteed, whether or not the carryovers and carrybacks. However, the following modifications
trust is exempt under section 501 (a), and the method of funding, must be taken into account in determining the taxable income
i. e., individual annuity or insurance contracts, group annuity for any year which must be subtracted from a net operating loss
contract, group permanent contract, or self-insured trust. If not to determine the portion of such loss which will still be available
funded, so indicate. to carry to a subsequent year:
28 (b). Amounts contributed under other employee benefit (a) The special deductions provided in sections 242 (partially
plans.-Enter in item 28 (b) deductions for contributions to em- tax-exempt interest) ancl 922 (Western Hemisphere trade corpora-
ployee benefit plans other than those claimed in item 28 (a), such tions) are not allowed.
as insurance, health, or welfare plans. Submit with the return a (b) The special deductions allowed by sections 243, 244, and
schedule for each plan showing (1 ) the nature of benefits, i. e., 245 are computed with regard to the limitations provided in sec- I
group term life insurance, group permanent life insurance, non- tion 246 (b) -
insured death benefit, hospitalization, surgical, medical, sickness, (c) The special deduction allowed by section 247 is computed
accident, major medical expense, or other welfare benefits; with regard to the provisions of subsection (a) (I) (B) of such
(2) method of financing, i. e., insured, industry or areawide fund, section.
self-insured fund, or direct benefit payments; (3) the amount of (d) The amount of the net operating loss deduction is deter-
deduction; (4) the amount of employee contributions; (5) the mined without regard to the net operating loss for the loss year or
number of employees covered; and (6) if a self-insured plan, the any taxable year thereafter.
amount of benefits paid during the taxable year. Also show the For further information on computation of amount of carryovers
number of employees employed by the corporation. and carrybacks, see section 172 (b).
29. Other deductions authorized by law.-Enter in item 29 any With respect to all taxable years, whether they begin before, on,
other authorized deductions for which no space is provided on the or after, January 1, 1954, in determining the amount of any net
return. Any deduction claimed should be explained in Schedule J. operating loss carryback or carryover to any taxable year, the
No deduction is allowable for the amount of any item or part necessary computations involving any other taxable year must be
thereof allocable to a class of exempt income, other than wholly made under the law applicable to such other taxable year. (Sec-
tax-exempt interest income. However, for interest on indebted- tion 172 (e).)
ness incurred or continued to purchase or carry tax-exempt The determination of any taxable year to which a net operating
securities, see instruction 21. Items directly attributable o loss sustained in a taxable year ending before January 1, 1954,
wholly exempt income shall be allocated thereto, and items direc y may be carried, must be made under the Internal Revenue Code
attributable ~to any class of taxable income shall be allocated to of 1939; such determination for a net operating loss sustained in
such taxable income. If an item is indirectly attributable both any taxable year ending after December 31, 1953, shall be made
to taxable income and exempt income, a reasonable proportion under the 1954 Code. (Section 172 (g).)
thereof, determined in the light of all the facts and circumstances If the corporation desires prompt adjustment for an overpay-
in each case, shall be allocated to each. A taxpayer receiving any ment attributable to a net operating loss carryback, an appli-
exempt income, other than interest, or holding any property or cation for a tentative adjustment should be filed on Form 1139
engaging in any activity the income from which is exempt, shall within 12 months after the close of the taxable . ear in which
submit with its return as a part thereof an itemized statement, in the net operating loss is sustained. (Section 641 1
detail, showing (1) the amount of each class of exempt income, For treatment of net operating loss carryovers in certain corpo.
and (2) the amount of expense items allocated to each such class rate acquisitions, see section 381.
(the amount allocated by apportionment being shown separately). For special limitation on net openating loss carryovers in case
In the case of mutual savings banks, -cooperative banks, and of a corporate change of ownership, see section 382.
domestic building and loan associations, any amounts paid or cred- Section 852 (b) (2) provides that no net operating loss deduc-
ited to the accounts of depositors or holders of accounts as divi-
tion shall be allowed in the case of a regulated investment
dends on their deposits or withdrawable accounts, if such amounts company.
may be withdrawn on demand subject only to customary notice
32 (b). Special deductions from Schedule K. (Sections 241-
of intention to withdraw, are allowable deductions in computing
taxable income. (Section 591.) 247.) (Numbered to correspond to line numbers on page 3.)
(1) Partially tax-exempt interest.-Enter the amount received
Under section 592 a special deduction in computing taxable
as interest on obligations of the United States or on obligations
income is allowed a mutual savings bank not having capital stock
represented by shares, a domestic building and loan association, of corporations organized under Act of Congress which are
or a cooperative bank without capital stock organized and operated instrumentalities of the United States, but only if (1) such
for mutual purposes and without profit, for repayment during the interest is included in gross income; and (2) such interest is
exempt from normal tax under the Act authorizing the issuance
taxable year of loans made before September 1, 1951, by the
of such obligations. This deduction must be reduced by any
United States or its wholly owned agencies, or by a mutual
amortizable bond premium as provided in section 171.
fund established under the authority of State law.
For deductions on account of research and experimental ex- (2) (a) Dividends received from a domestic corporation.-
penditures, and exploration and development expenditures in the Enter an amount equal to 85 percent of the amount received
case of mines, see instruction 25. as dividends (except dividends on certain preferred stock of
32 (a). Net operating loss deduction.-The "net operating loss public utilities) from a domestic corporation subject to income
deduction" is the sum of the net operating loss carryovers and tax. Amounts received as dividends from mutual savings banks,
carrybacks to the taxable year. (Section 172 (a).) A net oper- cooperative banks, and domestic building and loan associations and
ating loss for taxable years ending after December 31, 1953 may allowed as a deduction to such banks or building and loan asso-
be carried back 2 years (I year for excess profits tax purposes)' ciations shall not be treated as dividends. In the case of divi-
and carried over 5 years. The net operating loss must first be dends received from a regulated investment company, see section
carried to the earliest of the 7 taxable years to which it may be 854 regarding limitations on amount deductible.
carried, then to the next earliest year, etc. The portion of such (b) Dividends received on certain preferred stock of public
loss which shall be carried to each of the other 6 taxable years utilittes.-Enter 62.115 percent for taxable years beginning after
shall be the excess, if any, of the amount of such loss over the December 31, 1953, and prior to April 1, 1955 (59.681 percent
sum of the taxable income.for each of the prior taxable years to for taxable years beginning on or after April 1, 1955), of the
which such loss may be carried. (Section 172 (b).) amount received as dividends on the preferred stock of a public
The term "net operating loss" means, for taxable years ending utility which is subject to income tax and is allowed a deduction,
after December 31, 1953, thelexcess of allowable deductions over as provided in section 247, for dividends paid.,
gross incopie computed with the following modifications: (c) Dividends received from certain foreign corporations.-
(a) No net operating loss deduction is allowed. Enter 85 percent of dividends received from certain foreign cor-
c~16-70924-11
FACSIMILES OF TAX RETURNS FOR 1954
PAGE 7
porations. See section 245 for qualifications and limitations on to any extensions granted) the return for the first full taxable
the amount of this deduction. year after the beginning of the short period must be filed. (Sec-
(3) Dividends paid on certain preferred stock of public utili- tion 443 (b) (2).) For details concerning the form and content
ties.-In the case of a public utility there is allowed, in accordance of such an application, consult the District Director.
with section 247, an amount.equal to 26.923 percent, for taxable If a proper application is filed, the taxpayer may elect to pay
years beginning after December 31, 1953, and prior to April 1, whichever tax under the following two methods is greater, in place
1955 (29.787 percent for taxable years beginning on or. after of the short period tax under section 443 (b) (1) : (1,) Establish
April 1, 1955), of the lesser of (1) the amount of dividends the actual taxable income for the 12 months beginning with the
paid on its preferred stock during the taxable year, or (2) the first day of the short period; then compute the tax on that income.
taxable income for the taxable year computed without regard Then determine as a short period tax that part of the tax so com-
to the deduction provided in section 247. puted which bears the same proportion to the total tax -so com-
(4) Western Hemisphere trade corporation.-In the case of puted as the taxable income of the short -period bears to the taxable
a Western Hemisphere trade corporation, as defined in section income of the 12 months. However, a taxpayer which distributes
921, there is allowed under section 922 a deduction equal to substantially all its assets before the end of the 12-month period
26.923 percent, for taxable years beginning after December 31, described above, shall employ in the above computation the 12-
1953, and prior to April 1, 1955 (29.787 percent for taxable month period ending with the last day of the short period.
years beginning on or after April 1, 1955), of the taxable income (2) Compute a tax on the taxable income of the short period as
of such corporation computed without regard to the deduction if the short period were a full taxable year.
provided in section 922. In annualizing income of a short period consisting of 7 days
33. Taxable income.-Under the provisions of section 443 or more, by reason of a change to a 52-53 week fiscal year, the
(b) (1) if a corporation changes its accounting period, the tax- annualization. is made on a daily basis as provided in section
able income for the short period beginning on the day after the 441 (f) (2) (B) (iii).
close of the former taxable year and ending at the close of the 35. Credit for taxes.-If, in accordance witk section 901, a credit
day before the day designated as the f6t day of the new taxable is claimed by a domestic corporation in item 35, page 1, on
year shall be placed on an annual basis by multiplying the amount account of, income, war-profits and excess-profits taxes paid or
thereof by 12 and dividing by the number of months in the short accrued to a foreign country or a possession of the United States,
period. The.tax shall be that same part of the tax computed o.~ Form 1118 should be submitted with the return, together with the
the annual basis which the number of months in the short period receipt for each such tax payment. In case credit is sought for
is of 12 months. taxes accrued but not paid, the form must have attached to it
However, taxpayers may elect to compute the tax for the a certified copy of the return on which.each such accrued tax was
short period according to the method described below if an'appli- based, and the District Director may require- a bond on Form
cation to do so is filed not later than the date when (giving effect 1119 as a condition precedent to the allowance of the credit.
TAX COMPUTATION INSTRUCTIONS

1. Normal tax.-Section I I provides a normal tax for taxable 6.' Life insurance departments of mutuil savings banks-A
years beginning before April 1, 1955, equal to 30 percent of mutual savings bank not having capital,- stock represented by
taxable income. In the case of a taxable year beginning after shares, authorized under State law to conduct a life insurance
March 31, 1955, the normal tax is equal to 25 percent'of taxable business and which conducts such business in a separate depart-
income. ment the accounts of which are maintained separately from the
2. Surtax.-Section 11 provides a surtax equal to 22 percent accounts of other departments of the bank is taxable under section
of the amount by which the taxable income (computed without 594 provided the life insurance department would, if it were
regard to the deduction, if any, provided in section 242 for par- treated as a separate corporation, qualify as a life insurance
tially tax-exempt interest) exceeds $25,000. company under section 801.
3. Exceptions.-The tax imposed by section 11 shall not apply
to a corporation subject to a tax imposed by~(I) section 594 The tax.consisfs of the sum of-(I) a. partial tax computed
(relating to mutual savings banks conducting life insurance under section I I upon the taxable income of the bank determined
business), (2) subchapter,L (section 801 and following, relat- without regard to any items
' of gross income or deductions properly
ing to insurance companies), (3) subchapter M (section 851 allocable to the business of the life insurance department; and
and following, relating to regulated investment companies), or (2) a partial tax upon the taxable income (computed as pro-
(4) section 881 (a) (relating to foreign corporations not engaged vided in section 803) of the life insurance departmertt deter-
in business in United States). mined without regard to any items of gross income or deductions
4, Consolidated returns.-Section 1503 provides that the tax not properly allocable to such department, at the rates and in
imposed under section 11 (c) or section 831 shall be increased the manner provided in subchapter L with respect to life insurance
for any taxable year for which an affiliated group of includible companies.
corporations makes or is required to make a consolidated return Tax computation.-For the purpose of computing the first par.
by 2 percent of the consolidated taxable income (computed with- tial tax, a mutual savings bank should use Form 1120, filling in
out regard to the deduction, if Anyj provided in section 242 for all applicable items (except items 34 and 36, page 1) -and sched-
partially tax-exempt interest). U the affiliated group inchides ul6s. The first partial tax should be computed by using the Tax
one or more Western Hemisphere trade corporations or one or Computation schedule on page 3 of Form 1120. For the purpose
more regulated public utilities, the increase of 2 percent shall of computing the second partial tax Form I I 20L should be used.
be applied only.on the amount by which the consolidated taxable The first partial tax should be added to the second partial tax and
income of the affiliated group exceeds the portion (if any) of the sum thereof entered in item 34 as the total income tax. Sub-
the consolidated taxable income attributable to the Western tract from item 34 the sum of any credits in item 35 and enter
Hemisphere trade corporations and regulated public utilities in- in item 36 the balance of income tax. Form- 1120L properly
cluded in such group. filled in should be attached to and made a part of Form 1120
5. Insurance companies other than life of mutual.-All insurance and properly identified as an accompanying schedule. However,
companies (other than life or mutual insurance companies! ) in- any Form 1120L so used need not be separately executed under
cluding mutual marine insurance companies and mutual fire in- the penalty of perjury.
surance companies exclusively issuing either perpetual policies 7. Resident foreign corpofations.-Foreign corporations en-
or policies for which the sole premium charged is a single deposit gaked in trade or business within the United States are subject to
are subject to the taxes imposed by section 11. The taxable tax on their incomes from sources within the United States at
income of such insurance companies is defined in section 832 and the rates specified in section 11. (Section 882.)
differs from the taxable income of other corporations. This para- 8. Regulated investment companies.-For provisions relating to
graph does not apply to foreign insurance companies not carrying
* the method of taxation of regulated, investment companies, see
on arr insurance business within the United States. (Section 831.) sections 851 through 855.
U. S. GOVERNMENT PRINTING OFFICE edI-16-70924-1
448404 0 - 57 - 14
PAGE 8
PRINCIPAL BUSINESS ACTIVITY
In reporting the "Principal business activity," on page 1, give the one business activity that accounts for the largest percentage
of "total receipts." "Total receipts" means gross sales (item 1), plus gross receipts (item 4), plus all other income (items 7 through
14). State the broad field of business activity as well as the specific product or service, such as "Mining copper," "Manufacturing cot-
ton broad woven fabric," "Wholesale food," or "Retail apparel." Where receipts are derived from two or more ol the detailed industry
groups listed below, show only one which is the major source ol receipts. Use the appropriate group under the heading "FINANCE"
if over 50 percent of "total receipts" consists of investment income.
Enter the "business group code number" on page I from the following list. Give the code for the specific industry group
from which the largest percentage of "total receipts" is derived.
AGRICULTURE, FORESTRY, AND Code Code Code
FISHERIES 254 Partitions, shelving, lockers; and 357 Office and store machines and 516 Lumber, millwork, and construc-
Code office and store fixtures. , devices. tion materials.
611 Farms and a . !shural !ervices. 256 Window and door screens shades 31% Service industry and household 517 Machinery, equipment, supplies.
"I Forestry, e3cums: logging camps. and venetian blinds. machines. L18 Farm products--raw materials:
01 Finheries. 259 Other, including restaurant fur- 359 Other machinery parts, and cotton, grain, wool, leaf tobacco,
niture. machine shops. livestock etc
MINING Electrical machinery, equiiment, and sup- big Other wResalirs.
Metal mining: Paper and allied products-
261 Pulp, paper, and paperboard mills. plies: RETAIL TRADE
101 Iron ore.
102 Cogger, lead, zinc, gold, silver ores. 266 Paper bags and paperboard con- 361 Electrical generating, transmis- 521 Food, including milk.
log Ot er metal mining. tainers and boxes. sion, distribution and industrial
apparatus. General merchandise:
269 Pulp goods, and other converted Ml Department stores.
Coal mining: paper products. 362 Electrical appliances.
III Anthracite coal. 363 Insulated wire and cat-,Is. 532 Mail-order houses.
121 Bituminous coal and lignite. Printing, publishing, and allied industries: 364 Electrical equipment for motor ba3 Variety stores.
Crude petroleum and natural gas extraction: 271 Newspapers. vehicles, aircraft, and railway 539 Other general merchandise.
131 Crude petroleum, natural ga-s, and 272 Periodicals. locomotives and cars. $41 Apparel and accessories.
natural gasoline. 273 Books. 365 Electric lamps. 551 Furniture, home furnishings, etc.
138 Oil- and gas-field contract services. 276 Commercial printing, including 866 Radio, radar, and television equi p- Automotive dealers, dealers in parts and
lithographing. ment, and phonographs (except accessories, and filling stations:
Nonmetallic mineral mining: 279 Other publishing, bookbinding, radio tubes). NI Automobiles and trucks.
141 Stone, sand, gravel. and service industries for the 367 Other communication equipment ,%3 Parts, accessories, tires, batteries.
149 Other nonmetallic minerals, ex- printing trade. and related products. b6l Filling stations.
cept fuels.
Chemicals and allied products: 369 Miscellaneous electrical products 571 Drug stores.
CONSTRUCTION 281 Industrial inorganic ebemicals. including batteries. 58, Eating and drinking places.
282 Industrial organic chemicals, in- Transportation equipment (except electri- Lumber, building materials, and hardware:
151 General contractors: buildings. cluding plastic materials, syn- cal and motor vehicle equipment):
152 General contractors: other. 591 Lumber and building materials.
thetic rubber, and synthetic 372 Aircraft and parts, including air- b95 Hardware and farm implements.
153 Special trade contractors. fibers.
159 Other construction. craft engines. Other retail trade:
283 Drugs and medicines. 373 Ship and boat building, repairing. 601 Liquor stores.
MANUFACTURING 284 Soap and glycerine, cleaning and 374 Railroad equipment, including 6M Jewelry stores.
polishing preparations, etc. locomotives, and street cars.
Beverages: W9 Other retail stores.
285 Paints, varnishes, lacquers, ete. 375 Motorcycles, bicycles and parts.
191 Bottled soft drinks and carbonated 286 Perfumes, cosmetics, and otber 379 Other transportation equipment. FINANCE, INSURANC AND REAL
waters. toilet preparations. Motor vehicles and motor vehicle equip- ESTATE
192 Malt liquors and malt. 287 Fertilizers. (except electrical equipment): $21 Banks and trust companies.
288 Vegetable and animal oils and fats, 622 Mutual savings banks.
194 Wines. ment vehicles, including bodies
381 Motor 632 Savings and loan associations.
195 Distined,rectifted, blended liquors. except edible cooking oils. and truck trailers. and
Food and kindred products: 289 Other, including gum and wood 384 Motor vehicle parts accesso- Credit agencies other than banks:
201 Meat products. chemicals. ries, including enginesi, and trail- 634 Personal credit agencies.
ers for passenger cars. 635 Business credit agencies.
202 Dairy products, except market Products of petroleum and tool:
milk dealers. 291 Petroleum refining. Ordnance and accesseries: 639 Other credit agencies.
203 Canning and preserving fruits, 299 Other. 391 Guns, and related equipment in- Holding and other investment companies:
vegetables, and seafoods. Rubber products: cluding small arms. 641 Operating-holding companies
204 Grain-mill products, except cereal 301 Tires and inner tubes. 396 Small arms ammunition. (companies which derived less
preparations. 309 Other rubber products. 399 Other. than 90 percent but more than
M5 Bakery products. Professional, scientific, and controlling 50 percent of "total receipts"
Leather and leather products: from investments).
206 Sugar, cane and beet. instruments; photographic and opti-
207 Confectionery, related products. 311 Leather: tanned, curried etc
cal goods: 642 Other investment and holding
208 Cereal preparations. 314 Footwear (except rubber~- 401 Professional, scientific, and con- companies (companies which de-
209 Other, including manufactured ice 319 Other leather goods. trolling instruments,iincu"n.!W rived 90 percent or more of total
and flavoring sirups. Stone, clay, and glass products: photographic and op good 651 So
d:cr :7ipts
8. from investments).
321 Qlass and glass products. 407 Watches, clocks, and clockwork- and commodity brokers,
Tobacco manufacturers: exchanges, and services.
324 Cement (hydraulic). operated devices.
212 Ct 325 Structural clay products. AM:
219 Otre"r. Other manufacturing industries:
326 Pottery and related products. 411 Jewelry (precious metal), silver- 661 Life insurance.
Tustile-mill products: 327 Concrete, psum, and plaster ware and plated ware. 662 Mutual, except life or marine, and
221 Yarn and thread (cotton, wool, products,Tcluding lime. 412 Costume Jewelry (except precious ritual fire insurance com-
silk and synthetic fiber). 328 Cut-stone and stone products. metal). missuing perpetual pol~eies.
222 BiZd-woven fabric (woolen and 329 Abrasive, asbestos, and other non- 413 Fabricated plastic products, ex- 669 Other.
worsted). metallic mineral products. ,cept plastic materials. 671 Inrunnee-g-uts brokers, and service.
223 Broad-woven fabric (cotton) Primary metal industries: 419 Other, including matches. Real estate-
224 Narrow fabrics and other ;rnall 331 Blast furnaces, steel works, and TRANSPORTATION,COMMUNICATION, 681 Real estate owners and operators,
wares ~(cotton, wool, silk, and rolling mills. AND OTHER PUBLIC UTILITIES Including lessors of buildings
synthetic fiber). 332 Iron and steel foundries. Transportation: (excludes developers of real
2215 Knitting mills. 333 Primary and secondary smelting 461 Railroads, railway property and lessors of real
226 Dyeing and finishing textiles refining, rolling, drawing, ana 462 Trucking
Urban, twa
sesii~burban,
a. and(wit andexpress.
interurban prorrty
cI other than buildings).
(except knit goods). alloying of nonferrous metals and without 683 Deve opera of real property, in-
227 Carpets, rugs, and other floor rb cluding traders on own account.
and alloys.
coverings. 336 Nonferrous foundries. 463 warehousing. 684 Agents, brokers, managers, etc.
228 Hats, except cloth and milline~ 04 Other motor vehicle tramporta- GM Title abstract companies,
339 Other including iron and steel
229 Other, including rayon and silk forginis and wire drawing. tion, including taxicabs and 689 Other real estate.
broad-woven fabric. busses. IASIWS of real property, except buildings-
Fabricated metal products (except ord- 691 Agricultural, forest, and similar
Apparel and other finished products mado Banco. machinery, and transportation 465 Petroleum pipelines.
ken fabrics and similar motor". 466 Water transportation. properties.
equipment): 692 M ining, oil, and similar properties.
231 Men's and boys' clothing and 341 Tin cans and other tinware. 467 Air transportation.
4W Services supplementary to trains- 693 Railroad property.
furnishings, except fur and 342 Cutlery, hand tools, and general 694 Public-utility property.
rubber. hardware. portation.
469 Other transportation. W9 Other real property except build-
233 Women's clothing, and children's 343 Heating apparatus (except eleo. inp.
and infants, wear, except fur and tric) and plumbers' supplies. Communication:
SERVICES
rubber. 344 Fabricated structural metal prod- 471 Telephone (wire or radio).
228 mila". ucts including boiler shop 472 Telegraph (wire and radio) - 741 Hotels, rooming: and bouJins houses.
237 Fur goods. proaucts. 473 Radio broadcasting and television. cam".
238 Other apparel and accessories 346 Metal stamping, costing, and en. 479 Other communication. Personal services:
including gloves, robes, and graving. Electric and gas utilities: 721 Laundries, cleaning and dyeing.
raincoats, 347 Li htingI fixtures. cts. 481 Electric light and power. 723 Photographic studios including
239 Other fabricated textile products 348 Fatricated wire produ 482 Gas production and distribution, commercial fbotography.
including curtains, bags, and 349 Other including screw machine except natural gas production. 729 Other persona service.
awningsi iTT;Jucts. Other public utilities: Business services:
Lumber and WOW products (axes" far- Machinery (except electrical): 491 Water su ly. 731 Advertising.
Bit- ): 490 Other p2o utflitles. 739 Other business services.
351 Engines and turbines, except auto-
241 Logging cam , logging contrac- motive, aircraft, and railway. WHOLESALE TRADE 751 Automobile repakservices and garages.
tors, sawmz, and planing mills. 501 Commission merchants. 761 Otherrepaialff
352 Agricultural meby. and tractors.
243 Millwork, plywood, and prefabri- 353 Construction and mining machin- Other wholesalers: Metion pictures-
cated structural wood products. ery and equipment. all Food, including milk. 781 Motion picture production, dis-
244 Wooden containers. 354 Metalworking machinery InClud- 312 Alcoholic beverages. tribution and service industries.
249 Other wood products. ing machine tools. 513 Apparel and dry goods. 793 Motion picture theaters.
Furniture and fixtures (wood or metal): 355 Special-indtl3try machinery. 514 Chemicals, ts, and drugs. 791 Amusement and recreation services
251 Furniture-hougehold, office, pub- 356 General industry machinerY end sia Hardware elcea itnlical goods, piumb- except motion pictures.
lic building, and professional. equipment. ins and 6iiing equipment, etc. UI Other services, including schools.
anr-16-70924~1
SCHEDULE D
Form 1120 SCHEDULE OF GAINS AND LOSSES FROM SALES 1954
S. T--" Myrtraant
I.tarrool R.- Serics
U* OR EXCHANGES OF PROPERTY
or other taxable yew beginning 19S4, and ending '195
Name and addreas
(1) CAPITAL ASSETS
b. D c.SDt a. ixt,!,",A gnr .Cost or Other Basis and h. Gain or Lou (Column d
Acqu irteed old d.(Gron Set. Price D"r% in A
x,I...bi st of Im pfovem ntSu S. Expense of Sale plus calumn a last the sum
a. Description of Property Contract price) ti.~ or March 1, sequent to Acquisition
1. or of calumns f and g)
Mo. Day Yr. (Furnish details)
1 13 March 1913
Shourt-Term Capital Gains cand Lomes-Amets Hold for Not More Than 6 Months
I - --------------------------------- $------------------------ $------------------------ $------------------------ $---------------------- - $------------------------

------------------------------------- ----------------------- ------------------ ------ ------------------------- ------------------------- -------------------------
---------------------------------------
-------------------------------------- ------------------------- ------------------------- ------ ------------------ ------------------------- ------------------------
---------------------- -------------------------- --------------------------- ---------------------------- ----------------------------------- -----------------------------
-------------------------------------- -------- -1 ----------- --------------------------------------------- ------------------------------- --------- --------------- -----------------------
2. Unused net capital loss carry-over from five preceding taxable years (attach statement) ................................... -
3. Total of short-term capital gains or losses or difference between short-term capital gains and losses ......... : ................ Is
Long-Term Capital Gaim and Lomm--Auluseto Hold for Mass Than 6 Months
4 - --------------------------------- $------------------------ $ ----------------- ------ $ ------------------------ $ ---------------------_- $ ------------------_---

--------------------------------------
------------------------I ------------- ------------------------- ---- -------------------- ------------------------- ------------------------- -------------------------
----------------I---------------------- ------------------------- ------------------------- ------------------------- ---------------------- -- -------- ----------------
--------------------- ---------- ------------------------- ------------------------- ------------------------- -------------------------
------------------------- ------------------------- ---------------*
---------- --------------
---------
----------------------- I --------------------------------------------------------------- I --------------------------------------------------- -------------------------
5. Total of long-term capital gains or losses or difference between long-term capital gains and losses ........................... 1$
Summary of Capital Gains and Looms
Gain or Lou To Be Taken Into Account
Classification a. Gain I b. Loss
$
6. Net short-term capital gain or loss from line 3 ............................................ S
s
7. Net long-tem capital gain or loss from line 5 ............................................ &
8. Net short-tem capital gain (line 6, col. a) reduced by any net long-tem capital loss aine 7, x x x x x X X X X X
col. b). Enter here and as item 13 (a), page 1, Form 1120 .............................
9. Net long-term capital gain (line 7, cal. a) reduced by any net short-term capital loss (line 6, x X X x x x X X x x
col. b), Enter here and as item 13 (b), page 1, Form 1120 ................ ............. $
excess is not allowable ................... x x x x x x x x x x $
10. Excess of losses over gains in lines 6 and 7. This
Alternative Tast Computation for Calendar Yew 1954 and Taxable Years Ending on or Before March 31, 1955
free, other taxable, years attach Toccoa 112OPT
$ ----- -------------------------
11. Line 7, page 3, Form 11 20 .....................................................................................
(Wh,n deducti,tR,. are allow,b I. under eoctions 243, 244, 245, 247, 922, and 941, dis=,M.lines I I and 12 and cornpute taxable incorre
r.,e-
for lp,nosea of alt-h- tax (Into 13) according to the "Alternatwe to," instructl side.)
12. Net long-term capital gain reduced by any net short-term capital loss (line 9 of summary) ...........................
13. Line 11 minus line 12 ..........................................................................................
14. If amount of line 13 is:
(a) Not over $25,000; enter 30 percent of line 13 (32 percent if a consolidated return) ........................... $ ------------- --------------
(b) Over $25,000; enter 52 percent of line 13 (54 percent if a consolidated return) ......... $---------------------------
$____--------------------------
Subtract $5,500 and enter difference ............................................ -
16. Less: Adjustment for partially tax-exempt interest; enter 30 percent of line 1, Schedule K, Form 1120, but not in excess
of 30 percent of line 13 ..............................................................................
16. Partial tax .................................................................................................. $ -------------------------------
17. 26 percent of line 12 (25% for years beginning on or after April 1, 1954) ..........................................
18. Alternative tax (line 16 plus line 17) ........................................................................... $
19. Nomnal tax and surtax Oine 10, page 3,-Form 1120) ............................................................. $_
20. Tax liability (line 18 or 19, whichever is lesser). Enter hem and as line 11, page 3, Form 1 120 ....................... Is
(II) PROPERTY OTHER THAN CAPITAL ASSETS
b. Data . Date in . ,Ai

e.,DfinrrecallioncAllowed
ne oris March , 3ls(,o.f Cost or Other Basis and ain or Low (Column d
Acquired Sold . Gross Saint Price .1 CostofimpmvementsSub. g. E pense of Sale pl us col umn a less th um
a. Description of Property (Contract price) equent to Acquisition or of columns f and it)
Mo. Day Yr. Mo. Day Yr. (Furnish details) arch 1. 1913
- -- ------------------------------ --------- --------- ---------------- --------------------- ---------------------- $ ------------------------ -----------------------

-------------------------------------- ----------- ----------- ------------------------- ------------------------- ------------------------- ------------------------- -------------------------
--------------- ------------ ------- I--- ----------- ------------------------- ------------------------- ------------------------- ------------------------- --------------------------
------------------------------------ - - - --- - - - - - - - - - - -- - - - - - - - --- - - -------- - - -----_
-------------------------------------- ----------- ----------- --------- --------------- ------------------ ------ ----------------------- - ------------------------- -------------------------
------------------------------------- ----------- ----------- ---------------------------1 __~ ------------------------- -------------------------
2. Total net gain (or loss). Enter here and as item 13 (c), page 1, Form 1120. ....................... $
State with respect to each item of property reported in Schedule D (1) and al): (1) How property was acquired ------------------------------------------------------
(2) Whether at time of sale or exchange-(Check appropriate block(s))
(a) purchaser owned directly or indirectly E] (b) where purchaser was a corporation, more C] (c) where purchaser was a corporation,
more than 50 percent in value of your than 50 percent in value of its capital stock whether more than 50 percent in value of its
outstanding stock, and 50 percent in value of your capital stock capital stock was owned directly or indirectly
was owned directly or indirectly by or for the by you.
same individual or his family, and
State name and address of purchaser -----------------------------------------------------------------------------------------------------------------------------------------------

INSTRUCTIONS
(a P - aratiatial I 101'"ema C-001
Instructions For Insurance Companies Using This Schedule
Companies taxable under section 831 and having losses from capital assets or (2) losses from the sale or exchange of capital assets sold or exchanged to
sold or exchanged in order to obtain funds to meet abnormal insurance losses, obtain funds to meet abnormal insurance losses and to provide for the pay-
etc., shall attach a schedule corresponding to Schedule E, Form 1120M. ment of dividends and similar distributions to policyholders.
For companies taxable under section 831 or section 821 (a) (1) or (b), For,companies taxable under section 821 (a) ( 1) or (b), all references to
..net capital loss" means the amount by which the losses for the taxable tem, or -lim" numbers, Form 1120, shall be considered as references to
from sales or exchanges of capital assets exceed the sum of the gains It.. car the appropriate "item" or "line" in Form 1120M. It will be necessary for
such sales or exchanges and the lesser of ( 1) the taxable income (computed such companies to substitute for lines 14, 15, and 16 on other side a computa-
'th t regard to gains or losses from sales of exchanges of capital assets or tion conforming to that on pages 2 and 3 of Form 1120M.
rol Zu0 deduction for partially tax-exempt interest provided in section 242)
Gains and losses from sales or "changes of capital assets and other corporations more than 50 percent in value of the outstanding stock of each
propefty.-Report sales or exchanges of capital assets and sales or exchanges of which is owned, directly or indirectly, by or for the same individual, if
Of property other tfu,n capital assets in Schedule D on other side. Every sale either one of such corporations, with respect to the taxable year of the cor.
or exchange of property, even though no gain or loss may be indicated, must poration preceding the date of the sale or exchange was, under the law appli.
be reported in derail. cable to such taxable year, (I) a personal holding company, as defined in
Losses irom sales or exchanges of capital assets shall be allowed only to the section 542, or (2) a forei$n. personal holding company, as defined in section
extent of gains from such sales or exchanges. However, the amount of a net 552. (For the purpose of determining the ownership of stock, in applying
capital loss sustained in any taxable year may be carried over to each of the this paragraph see section 267.)
five succeeding taxable years and treated in each such succeeding taxable year Gain on sales by a "controlied" corporariox.-In the caw of a aide of ex-
as a short-term capital loss to the extent not allowed as a deduction against my change, directly or indirectly, of property between an individual and a cor.
net capital gains of any taxable year intervening between the taxable year in poration more than 80 percent in value of the outstanding stock of which is
which the net capital loss was sustained and the taxable year to which carried. owned by such individual, his spouse, and his ininor children and minor grand.
Definition of capital ameli.-The term "capital assets" means property field children, any jaina feco ruzed to the transferor from such sale or exchange
by the taxpayer (whether or not connected with its trade or business), but shall be treate gain from the sale or exchange of property which is neither
does not include ( 1 ) stock in trade of the taxpayer or other property of a abancagstal asset nor property described in section 1231, if such property in the
kind which would properly be included in the inventory of the taxpayer if of the transferee is depreciable under section 167. Section 1239.
on hand at the close of the taxable year, or property held by the taxpayer Gains and losses from involainiarry conversion and from the sale or exchange
primarily for sale to customers in the ordinary course of its trade or business; of certain property mied in the trade or buriffess.-The term "property used
or (2) property used in the trade or business, of a character which is subject in the trade or business," as usedwhich
in section 1231, means property which his
to the allowance for depreciation provided in section 167, or real property been held more than 6 months, is used in the trade or business, and
used in the trade or business ofthe taxpayer; or (3) certain copyrights, literary,
in', which is either real property or property subject to depreciation under section
ical, or artistic compositions, or similar properties; or (4) accounts or 167, and which is not (a) property of a kind which would properly be includi-
notes receivable acquired in the ordinary course of trade or business for services ble in the inventory of the taxpayer if on hand at the close of the taxable year,
tendered or from the sale of property described in (I) above; or (5) an obli- (b) property held by the taxpayer primarily for sale to customers in the ordi-
gation of the United States or any of its possessions, or of a State or Territory, nary course of its trade or business, or (c) certain copyrights or similar prop-
or any political subdivision thereof, or of the District of Columbia, issued on erties., Such term also includes timber and coal with respect to which section
or after March 1, 1941, on a discount basis and payable without interest at a 631 applies as well as unharvested crops to which section 1231 (b) (4) applies.
fixed maturity date not exceeding I year from the date of issue. Such term also includes livestock (but not poultry) -held for draft, breeding,
Claisificalion of capital gains and losses.-The phrase "short-term" appl or dairy purposes and held for 12 months or more from the date of acquisition.
to the category of gains and losses arising from the sale or exchange of capital 'es Section 1231 provides Special treatment for the gains and losses upon the
assets held for 6 months or less, and the phrase "I ng-term 1. to the ca e 0 sale or exchange of "property wed in the trade or business" and upon the
of gains and losses arising from the sale or exchange0 of capital assets he!] f~ compulsory or involuntary conversion of (1) such property and (2) capital
more than 6 months. assets held for more than 6 months. Such gains and losses during the taxable
Enter full description of each item of property sold or exchanged, even rareld are treated as gains and losses from the sale of exchange of capital assets
thouSh no gain or loss may be indicated. Such description should include for more than 6 months, if the aggregate of such gains exceeds the
the following facts: (a) For real estate, location and description of land, aggregate of such losses. If, however, such gains do not exceed such losses,
description of improvements, details explaining depreciation; (b) for bonds such gains and losses shall not be treated as gains and losses from the sale or
o other evidences of indebtedness, name of issuing corporation, description exchange of capital assets.
of the particular issue, denomination, and amount; (c) for stocks, name of In determining whether gains do or do not exceed losses, it is necessary to
issuing corporation, class of stock, number of shares, and capital changes include the gains and losses to the extent that they would be included if they
affecting basis (nontaxable stock dividends, other nontaxable distributions, were all ordinary gains and losses, The limitation of section 1211 on the
stock rights, etc.). deductibility of capital losses does not operate to exclude any such losses from
The "basis" for the property is not subject to the same rule for reporting the computation as to the excess of gains over losses, but all such losses are
gains as for losses, if the property was acquired before March 1, 1913. If the included in full.
property sold or exchanged was acquired prior to March 1, 1913, the basis For special treatment of gain or loss upon the cutting of timber, or upon
for determining GAIN is the cost or the fair market value as of March 1, 1913, the disposal of timber or coal under a contract by which the owner retains an
adjusted as provided in section 1016, whichever is greater, but in determining economic interest in such timber or coal, see section 631.
LOSS the basis is cost so adjusted. If property was acquired after February Alternative i".-If for my taxable year the net long-term capital gain
213, 1913, basis for both gain and loss is the cost of such property, except as exceeds the net short-term capital loss, or if there is only a net long-term
otherwise provided. The exceptions arise chiefly where property was acquired capital gain, section 1201 imposes an alternative tax in lieu of the normal tax
by bequest, gift, tax-free "change, involuntary conversion, or wash sale of and surtax imposed upon taxable income, if any, only if such tax is less than
see sections 1014, 1015, 1031, 1033, and 1091, respectively. If the the tax imposed by section I I (relating to normal tax and surtax on corpora-
stock; shown as the basis is other than actual cash cost of the property sold
m1ount tions), sections 821 and 831 (relating to normal tax and surtax on insurance
or exchanged, full details must be furnished regarding the acquisition of the companies, other than life insurance companies), or section 511 (ii"~)
property. (relating51,to taxation of business income-of certain organizations described in
section
Enter in column e, on other side, the amount of depreciation, exhaustion, (a) (2) ). The alternative tax is the sum of ( 1) a partial tax,
wear and tear, obsolescence, amortization, and depletion in respect of the prop- computed at the normal tax and surtax rates on the taxable income decreased
erty. This amount shall be the sum of the following: by the amount of the excess of the net long-term capital gainr over the net
(a) The amount of depreciation, exhaustion, wear and tear, obsolescence, short-term capital loss, and (2) 26 percent of such excess taxable years
amortization, and depletion which has been allowed (but not less than the beginning before April 1, 1954, determined without regard to section 21, or
amount allowable) in respect of such property since date of acquisition, or
since February 28, 1913, if the property was acquired before that date. For Irtrlce,n'cofro~y.e,airo'~tgi.n,n..g
in aanter =ive" tax"unda ' I ion 1201 and is
(any period after December 31, 1951, the amount of depreciation, etc., allowed entitled to special deductions for dividends received (sections 243, 244, 245);
and which is in excess of the amount allowable) shall be disregarded the the special deduction for dividends paid (section 247); the special deduction
extent that such excess does not result in a reduction for any taxable year to of for a Western Hemisphere trade corporation (section 922); or the special
the taxpayer's income or excess profits taxes. In respect of any period after deduction for a China Trade Act corporation (section 941) the amount to be
February 28. 1913, and before January 1, 1952, the taxpayer may disregard entered on line 13 shall be computed " follows:
depreciation, etc., which was in excess of the amount allowable and which (I) Add back to the taxable income (item 33, page 1, Form 1120) my
did not result in reduction of income or excess profits taxes only if an election deductions claimed in item 29 or item 32 (b), page 1, Form 1120,
is made in accordance with reoulations. See section 1020; and under the authority of sections 243, 244, 245, 247, 922, and 941.
(b) The amount of depreciation, exhaustion, wear and tear, obsolescence, (2) Subtract from this total the excess of net long-term capital gain over
amortizatim, and depletion actually sustained prior to March 1, 1913, if the net short-term capital loss (line 9 of Schedule D).
property was acquired before that date. (3) Recompute the special deductions allowable under sections 243, 244,
Subsequent improvements to be entered in column I. include expenditures 245, 247, 922, and 941. For the purpose of this recomputation, the
for additiow, improvements, renewals, and replacements made to restore the term "taxable income" employed in these sections and in section 246
property or prolong its useful life. Do not include pairs, interest, shall be considered to be the result in (2) above.
or taxes in column I. or elsewhere in computing gainordina or 10Y. - (4) Subtract from the result in (2) above the special deductions recom-
If emergency facilities are sold or exchanged, see section 1238. put~d in (3) above and enter the difference, plus line 1, Schedule K,
Loises on securities becoming worthless.-If any securities (as defined Form 1120, in line 13.
below) become worthless within the taxable year and are capital assets, the Bonds, etc., losses of hanks.-In the case of a bank as defined in section
loss resulting therefrom shall, in the use of a taxpayer other than a bank, 581, if the losses in the taxable year from sailes or exchanges of bonds, deben-
defined in section 581, be considered as a loss from the sale or ex chan on tures, notes, or certificates, or other evidences of indebtedness, issued subdivis'
by any
the last day of such taxable year, of capital assets. Section 165 (g) corporation (including one issued by a fovernment or political
Definition of seciarily.-For the purpose of determining capital losses under thereof) with interest coupons or in registered form, exceed the gains from
Ion
section 165, the term "security" means a share of stock in a corporation; a such sales or exchanges, such excess shall be considered as in ordinary loss
fight to subscribe for, or to receive, a share of stock in a corporation; of a and deductible in full against other income. Section 582.
. .
bond, debenture, note, or certificate, or other evidence of indebtedness, issued Dealer; . ' ion C I gains and ordinary loijes.-Undef the pim-
by a corporation or by a government or political subdivision thereof, with visions Lecaf... ~36,e" gainatri,
y a dealer in securities from the sale or "change .
interest coupons or in registered form. However, securities issued by certain of a security, as defined in section 1236, shall in m event be considered &~Ioain
affiliated corporations shall not be deemed capital assets. Section 165 (g) (3). from the sale or exchange of a capital asset unless (a) the security was, ore
Losses not allowable.-No loss shall be recognized in my sale or other dis- the expiration of the thirtieth day after the date of its acquisition, clearly iden-
.P,.o
position
~fo i,6
"ally hare,oc sf.se
ock substan- tified in the dealer's records " a security held for investment or, if acquired
d0,
to afteralu 0k ntract or before October 20, 1951, was so identified before November 20, 1951; and
~.,.ties
s'the 0 andea cuft'
ire iden
res or 30 days (b) the security was not, at any time after the expiration of such thirtieth day,
sale
sub
' 't raudly
date with or he-
such _Iwher~
disto t ti f dealers held by the dealer primarily for sale to customers in the ordinary course of
ofand'c of or ordinary trade or business. A loss from the sale or "change of a security shall, if
course of such business. Section 1091. section 582 (c) is not applicable, be considered a capital loss if at my time
E in the case of distributions in liquidation, no deduction shall be after November 19, 1951, the security was clearly identified in the "er's
allo=in respect of losses from sales or exchanges of property, directly or words as a security held for investment.
indirectly, between an individual and a corporation in which such individual Short jades of capital wsets.;-For ru!~s repardling . tax consequences of cer-
owns, directly or~ indirectlyLore tain short sales of stock or oil er securities (mC udu~g those dealt with on a
of than 50 percent in value of the outstanding
stock; or (except in the distributions in liquidation) between two "when issued" basis), add transactions in commodity futures, me section 1233.
U. S. 011NEOGIVIT Miallft OFFIM' 10*-*-Wn=
SCHEDULE PH
Form 1120
U. S. M'-" D.P
IM-1 R-U. =.
-t COMPUTATION OF U. S. PERSONAL HOLDING COMPANY TAX 1 *54
or other taxable year beginning . 1954, and ending , 199
N- and dd-
1-b-oo UNDISTRIBUTED PERSONAL HOLDING COMPANY INCOME COMPUTATION

oundli-le.
1. Taxable income before net operating loss deduction and special deductions from Schedule Y, Form 1120 (item 31, page 1,
Form 1120) ...................................................................................................... $- --------_-------
2. Amount to be included in income where lien in favor of the United States to satisfied or released ..............................
3. Expenses and depreciation applicable to property of the taxpayer in excess of amount allowable under motion 545 (b) (8).
(From $cIvedule A) ................................................................................................
4. Total of items I to 3, inclusive ......................................................................................... $ ------------------

ff. Additional contributions or, gifto deductible under section 545 (b) (2). (Not Included In computing.
item, 1.) (From Schedule B) ................................................................. ------- -----------_--
S. Federal income and excess profits taxes. (Attach schedule) .......................................
7. Income, war-profits and excess profits taxes of a foreign country or U. S. possession (not deducted in com-
puting item 1). (From Schedule Q ...........................................................
S. Not operating loss for the preceding taxable year deductible under section 545 (b) (4) ...
9. Excess of net long-term capital gain over net short-term capital I- (Itern 13 .......
(b), page 1, Form 1120) ..............................................
10. Lem: Income tax attributable to such excess. (Attach computation If
# amount to different from line 17, separate Schedule D, 1120) ......
11. Amount of a lien in favor of the United States .................................................... ------------------------------
12. Special deduction for bank affiliates allowable under section 545 (b) (6) ........................... ... ------------------ --------
13.N Deduction for dividends paid (excluding dividends paid after close of taxable year). (From Schedule D). ~--- --------------------
14. Amounts used or irrevocably set aside to pay or retire indebtedness of any kind incurred prior to January
1, 1934. (From Schedule E) .................................................................
13. Total at items 5 to 14, inclusive .......................................................................................
16. Undistributed personal holding company income before deducting dividends paid after close of taxable year (item 4 minus Item 15). $--- -----------------
17. low: Dividends paid after close of taxable year (excluding deficiency dividends cis defined in section 547 (d)) but n- In
excess of the lesser of item~ 16 or 10 % of line 3, Schedule D ...................................................
18. Undistributed personal holding company income (item 16 minus item 17) ..................................................
COMPUTATION OF TAX
IL Tax on portion of item 18, not in excess of $2,000, at 75% ............................................................... $----------------------
20. Tax on portion of item 18, in excess of $2,000, at 65%..................................................................
21. Total Personal Holding Company tax due (total of Items 19 and 20). (Enter here and as item 37, page 1, Form 1120) ..........
SCHEDULE REOUIRED UNDER SECTION 65DIlf)

(a) Personal Holding Company Income
1. Dividends ......................................................................................... $
* * ..... **"*'***' ...................... --------
2. Interest .............................................................................................................
3. Royalties (other than minera oil, or gas royalties) ...................................................................... . -------------------
4. Annuities .......................................................................................................... . ------------- -----------
S. Gains from sale or exchange of stock or securities ...................................................................... ...---------------------------
6. Gains from futures transeff. ........................................................................................ - ----------- --------------
7. Amounts received from estates and trusts and gains from the sale or other disposition of any interest in an estate or trust ....... ------------------------------
S. Income from personal service contracts ............................................................................... . -----------------------------
9. Amounts received as compensation for use of corporation property by shareholder ......................................... ......- ---------------------z-
10. Rents ............................................................................................................. ...............................
11. Mineral, oil, or gas royalties ........................................................................................
12. Total personal holding company income ........... : ........................................... ... $---------------------_----
(b) Stock Oarriership
Enter below the names and addresses of the individuals who owned, directly or indirectly, at any time during the last half of the taxable year, more than 50
percent in value of the outstanding capital stock of the corporation:
Highest pemntage of sham owed dudng last half of taxable year
Nam. Addma
PrOared I Common
(1) ------------------------------------------------- ----------------------------------------------------------------------- --------------- ------- ------- -------------------------------

(2) ------------------------------------------------------------ ----------------------------------------------------------------------- ------------------------------- ------------------------------
(3) ----------- ----------------------------------------- ------ ----------------------------------------------------------------------- ----------------------- ------ ------------------------------
(4) ---------------- ----- ------------------------------------ -------------------------------------------------------------------- ------------------------------ -------------------------------
-71376-1
Page 2
99hedislis A-4XCM OF M"Dnn AND DEPRECIATION OVER INCOME FROM PROPERTY NOT ALLOWABLE UNDER SECTION 5" 0) 0). "" Indrseenear 2)
2. Data, I. ItTpin
its
j.1.ftUpC.#.8)1d
ur b.~ 1,nOther 1 6. an
A&5r
1. Kind of Property Acquired 3. Cost 0, Other Base 4. Depredation . Is. . from Rest or a. Excear
0 E
Columns4imilS Oftirs-companusition minusC4 umn7)
I I I I
$ -------------------- $-- ------------------------- $-------------------- $ --------------------

W - ---- - ----- -------------- ----------------------- ------------------ ------------------------------- ----------------------- -----------------------
(c) -- -------------------------- ------ --------- ----- ---------------- ------------------------------ --------------------- ---------- -----------
(d) ----------------- ------------------ ---------------------- ------------------ ------------------------------- ----------------------- -----------------------
Total exoses of expenses and depreciation over rent or other compensation. (Enter here and as item 3, page 1) ........ v*ams~*4~00~40.1$
Explanation of experts" entered in column 5 ------------------- ------- -------------------------- -----------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
State the names and addresses of pearoone from whom rent or other compensation was received for the use of, or the right to use, each property ------------------
------------------------ ---- - -----------------------------------------------------------------------------------------------------------------------------
-- ----------------- --------------------------- ----- ------------ --- -- - -- - ---------------------------------------------------------------------------------------------
---------------------------------------------------------------- -- ------------------- - ------------------------------ - ---------------------------------------------------------------------------
------------------ ---------------------------------------------------------------- - ----------------------------------------------------------------------------------
Selifteledia IL-ADDITIOKAL CONTRIBUTIONS On GIFTS PAID. (NO deducted In easnpurting Item 1, Fee, 1) (See lns&ucdm S)
Name and Addressi of organization Amount Name and Address of Orpnization Amount
--------------------- ----------------------------------------------------- $ ---- - ---- ----------- $----------------------

------------------- ------- - --- ----- ----------------------------
---------------------------------------------------------------------------- ----------------------- ---------------------------------------------------------------------------
----------------------------------------------------------------------------
Total.
----------------------- I ---------------------------------------------------------------------------
(Enter hem and as item 5, page 1, subject to appropriate percentage limitati~ns) .......................................
Is
Sedisedarlar C-INCOME, WAR-PROFffS, AND IKXCnS-PROFITS TAXES OF A FOREIGN COUNTRY On U. IL POSSESSION.

(Saaa IneDverdean 7)
Mature of Tea Taxable Year Amount 11 Nature of Tea T ...We Year Amount
------------------------------------------------- ---------------------- $ ---------------------- -------------------------------------------------- $ ----------------------

--------------------------------------------------- ----------------------- ----------------------- ------------------------------------------------- -----------------------
-------------------------------------------------- ----------------------- ----------------------- -------------------------------------------------- -----------------------
----------------------------------- -------------- ---------------------- ----------------------- -------------------------------------------------- -----------------------
--------------------------------------------------- ----------------------- --------------------------------------------------
Total. (Enter here and as item 7,-L--ge 1) ..........
Solessissis D.-DEDUCTION FOR DIVIDENDS PAID. (Sea Instruction 11)
1. Taxable dividends paid, excluding (a) dividends paid in current taxable year and claimed in the preceding year under section
563, and (b) deficiency dividends car defined in secdon 547 ........................................................... 11------------------------------
L Consent dividends. (Submitwhodule) ........ I ......................................................................
3. Taxable distributions (total of lines I and 2) ............................................................................ $------------------- ----------
4. Dividend oarry-over from first and second preceding taxable yews. (Submit scha,dular of computation) .................... $
5. Deduction for dividends paid (total of lines 3 and 4). (Enter here and as item 13, page 1) ................................... $
Solassiselar F--AMOUNT USED ON SET ASIDE TO PAY ON RETIRE INDEBTEDNESS INCURRED PRIOR TO JANUARY 1. U34. (See Insismation 14)
fill
1.Description of indebtedness ...................................
2.Date incurred or assumed ...........................................
*"** - - -- - ------------------------------- ------------------------------- ----------------------------- -
3.Date due ................................................... ------------------------------ ------------------------------
4.Original amount of indebtedness ......................................... $ $
1.Amount used or set wide prior to January 1, 1934, to pay or mtire such
indebtedness ........................................................
L Excess of indebtedness on January 1, 1934, over total amount used or set
aside prior to that date to pay or retire such indebtedness ................. $
L Aggregate of amounts used or set aside to retire such indebtedness in taxable
years beginning on and after January 1, 1934 (not including taxable year
cooered by this return) ................................................ $ ----- ----------------------- $------------------------ $
-------------------------
L Amount used or irrevocably eat aside during the taxable year covered by
this mtum to pay or retire such Indebtedness ............................ $
$
9. Total of lines 7 and 8 ............................................... $ $
10. Balance of indebtedness aine 6 minus line 9) .............................. $
$ $
11. Indicate separately:
(a) Amount actually used during the taxable year covered by this return
to pay or retire the indebtedness ................................ $
$
(b) Amount irrevocably set aside during the taxable year covered by
this return to pay or retire the indebtedness, but not actually used
during the taxable year for such purpose ........................ $ $
IL Portions of amounts entered on line 8 above, claimed as deductions for the
taxable year covered by this return. (Enter portions of amounts here and
total of such portions as item 14, page 1) ...............................
Indicate by check mark whether the deduction claimed In item 14, page 1 of this mturn, represents;
A El Amount actually used during the taxable year to pay or retire the indebtedness;
B C1 Amount h"vocably set aside during the taxable year to pay or retire the indebtedness; ar
C 0 Combination of both A and B.
Them must be furnished all of the facts and circumstances upon which the taxpayer relies to establish the reasonableness of the amount claimed as a
deduction. Describe fully in an attached statement the plan for payment or retirement of the obligations, indicating date and method of adoption, and, where
the Elan is covered by a mandatory sinking fund agreement or similar arrangement, submit a copy of the indenture or agreement by which the fi-nd was
exta ished and under which it I. maintained.
If the amount claimed as a deduction in Item 14, page I of this return, represents an amount t"evocably not aside Io pay or retire the indebtedness, explain
fully In an attached AQWment " circumdanow and method by which it was irrevocably set aside.
FACSIMILES OF TAX RETURNS FOR 1954 2W
INSTRUCTIONS FOR SCHEDULE PH 1220
COMPUTATION OF U. S. PERSONAL HOLDING COMPANY TAX

(Under Subtitle A, Internal Revenue Code)
(Refeeencosare, to the Internal Revenue Code of 1954 unlees otheriolve noted)
Corporations which must file Schedule PH (1120)-Every corporation which to the use of the property; whether such right is obtained directly from the cor6
comes within the classification of a "personal holding company" must file a Sched- potation or by means of a sublease or other arrangement. This paragraph shall
ule PH. The term "personal holding company" means my corporation, other than apply only to a corporation which has personal holding company income for the
those listed in the exceptions below, if at least 80 percent of its gross income for taxable year, computed without regard to this paragraph and paragraph (7), in
the taxable year is personal holding company income and if at any time during the excess of 10 percent of its gross income.
last half of the taxable year more than 50 percent in value of its outstanding stock (7) RENTs.-Rents, unless constituting 50 percent or more of the gross income.
is owned, directly or indirectly, by or for not more than 5 individuals. For purposes For purposes of this paragraph, the term "rents" means compensation, however
of determining such stock ownership, an organization described in section 503 (b) designated, for the use of, or right to use, property, and the interest on debts owed
of a Portion of a trust permanently set aside or to be used exclusively for the pur- to the corporation, to the extent such debts represent the price for which real
poses described in section 642 (c) or a corresponding provision of a prior income properly held primarily for sale to customers in the ordinary course of its trad~
tax law shall be considered an individual. (See section 542 (a).) or business was sold or exchanged by the corporation; but does not include
In the case of corporations filing consolidated returns, see section 542 (b). amounts constituting personal holding company income under paragraph (6).
The term "personal holding company,- as referred to above, does not include (8) MINERAL, OIL, OR GAS RoYALTms-Mineral, oil, or gas royalties, unless-
any of the following: (A) such royalties constitute 50 percent or more of the gross income, and
(1) A corporation exempt from tax under subchapter F (am 501 and (B) the deductions allowable under section 162 (relating to trade or busi.
following) ; ness expenses) other than compensation for personal services rendered by the
(2) a bank as defined in section 581; shareholders, constitute 15 percent of more of the gross income.
(3) a life insurance company; Stock ownuship.-Section 544I contains the following provision with reference
(4) a surety, company; to stock ownership.
(5) a foreign personal holding company as defined in section 552; (a) CONSTRUCTIVE OwNERsHm.-For purposes of determining whether a cor,
(6) a licensed personal finance company as defined in section 542 (c) (6); potation is a personal holding company, insofar as such determination is based on
(7) a lending company as defined in section 542 (c) (7); stock ownership under section 542 (a) (2), section 543 (a) (5), or section 543
(9) a loan or investment corporation as defined in section 542 (c) (8); (a) (6)-
(9) a finance company as defined in section 542 (c) (9); and (1) STOCK NOT owNED BY rNOrvmuAL.-Stock owned, directly or indirectly,
(10) a foreign corporation the gross income and stock ownership of which falls by or for a corporation, partnership, estate, or trust shall he considered as being
within the provisions of section 542 (c) (10). owned proportionately by its shareholders, partners, or beneficiaries.
A foreign corporation, whether resident or nonresident, which is classified as a
(2) FAMILY Am PARTNERsmp owNERsilip.-An individual shall be consid.
personal holding company under section 542 (not including a foreign personal
ered as owning the stock owned, directly or indirectly, by or jor his family or.by
balding company as defined in section 552 ) is Subject to the tax imposed by section
or for his partner. For purposes of this paragrapli, the family of an individual
541 with respect to its income from sources within the United States Even though
includes only his brothers and sisters (whether by the whole or half blood),
such income is not fixed or determinable amiual or periodical income specified in
- spouse~ ancestors, and lineal descendants.
section 881 (a). (See section 861.) Ile term "personal holding company as
(3) OPTIoNs~lf any person has an option to acquire stock, such stock shall
used in subtitle A does not include a foreign corporation if (1) its gross income
be considered as owned by such person. For purposes of this liaragraph, an
irom sources within the United States for the period specified in section 861 (a)
option to acquire such an option, and each one of a series of such options, shall
(2) (B) is less thar, 50 percent of its total gross income from all sources and
be considered as an option to acquire such stock.
(2) all of its stock outstanding during the last half of the taxable year is owned
(4) APPLICATION OF FAMILY-PARTNERsmp Am OPTION RuLns.-Paragraphs
by nonresident alien individuals, whether directly or indirectly through other
(2) and (3) shall be applied-
foreign corporations.
holding company (A) for purposes of the stock ownership requirement provided in section
Personal holding company income.-The term "personal
542 (a) (2), if, but only if, the effect is to make the corporation a personal
income' is defined.by section 543 as the portion of the gross income which con-
holding company;
sists of:
(1) DIVIDENDS, ETc.-Dividends, interest, royalties (other than mineral, oil, (B) for purposes of section 543 (a) (5) (relating to personal service con.
or gas royalties), and annuities. This paragraph shall not apply to interest con. tracts), or of section 543 (a) (6) (relating to the use of property by share.
stituting rent as defined in paragraph (7) or to interest on mounts set 'side in holders), if, but only if, the effect is to make the amounts therein referred to
is reserve fund under section 511 or 607 of the Merchant Marine Act, 1936. includible under such paragraph as personal holding company income.
(2) STOCK Am SECURITIES TRANsAcnoNs.-Except in the case ofstock
regular (5) CONMUCTIVII OWNERSHIP AS ACTUAL OWNERWHP.-Stock constructively
dealers in stock or securities, gains from the sale or exchange of or owned by a person by reason c~f the application of paragraph (1) or (3) shall,
securities. for purposes of applying paragraph (1) or (2), be treated as actually owned by
(5) CommoDiTnis TRANSACTIONS.-GlinS from futures transactions in any such person; but stock constructively owned by an individual by reason of the
commodity on or subject to the rules of a board of trade or commodity exchange. application of paragraph (2) shall not be treated as owned by him for purposes
This paragraph shall not apply to gains by a producer, processor, merchan% or of again applying such paragraph in order to make another the constructive owner
handier of the commodity which arise out of bona fide hedging transactions of such stock
reasonably necessary to the conduct of its business in the manner in which such (6) OPTION RULE IN LIEU OF FAMILY AND PARTNERS141P RULE.-If stock may
business is customarily and usually conducted by others. be considered as owned by an individual under either paragraph (2) or (3) it
(4) ESTATES AND Tittirrs.-Amounts includible in computing the taxable shall be considered as owned by him under paragraph (3).
income of the corporation under part I of sulichapter J (sec. 641 and following, (b) CONVERTIBLE SECURnU&-OUtSt&nding Securities convertible into stock
relating to estates, trusts, and beneficiaries); and gains from the sale or other (whether or not convertible during the taxable year) shall be considered as out.
disposition of any interest in an estate or trust. standing stock-
(5) PERSONAL SERVICE CONTRACTS.- (1) for purposes of the stock ownership requirement provided in section 542
(A) Amounts received under a contract under which the corporation is to (a) (2), but only if the effect of the inclusion of all such securities is to make
.Iit=
mish personal services; if some person other than the corporation has the the corporation a personal holding company;
:ight to designate (by name or by description) the individual who is to perform (2) for purposes of section 543 (a) (5) (relating to personal service con-
me services, or if the individual who is to perform the services is designated tracts), but only if the effect of the inclusion of all such securities is to make
(by name or by description) in the contract; and the amounts therein referred to includible under such paragraph as personal hold.
(B) mounts received from the sale or other disposition of such a oontracL ing company income; and
Ibis paragraph shall apply with respect to amounts received for services under (3) for purposes of section 543 (a) (6) (relating to the use of property by
a particular contract only if at some time during the taicable year 25 percent or shareholders), but only if the effect of the inclusion of all such securities is to
more in value of the outstanding stock of the corporation is owned, directly or make the amounts therein referred to includible under such paragraph as personal
indirectly, by or for the individual who has performed, is to perform, or may be holding company income.
cesignated (by time or by description) as the one to perform, such services. The requirement in paragraphs (1), (2), and (3) that all convertible securities
(6) USE OF CORPORATION PROPERTY By sHARRHoLDER.-Amounts received must be included if any are to be included shall be subject to the exception that,
as compensation (however designated and from whomsoever received) for the where some of the outstanding securities are convertible only after a later date than
use of, or right to use, property of the corporation in any case where, at any time in the case of others, the class having the earlier conversion date may be included
during the taxable year, 23 percent or more in value of the outstanding stock of although the others are not included, but no Convertible securities shall be induded
the corporation is owned, directly or indirectly, by or for an individual entitled unless all outstanding securities having a prior conversion date are also included.
SPECIFIC INSTRUCTIONS
The following instructions are numbered,to correspond with item numbers on to which, section 631 (c) is applicable, an section 631 (c) and the regulations
page I of this schedule. thereunder.
1. Taxable income before net operating loss deduction End special deductions In the case of a nonresident foreign corporation (not engaged in trade or business
from Schedule F, Form 1120.-Enter here the amount shown on line,31, Form within the United States) which qualifies as a personal holding company under
2120, computed in accordance with the provisions of subtitle A, but without regard section 542 but not as a foreign personal holding company under section 552, the
to section 443 (b) (relating to income placed on an annual basis). In the event mount to be entered in item 1 must be computed under section 861 rather than
such taxable income in item 1 includes my amount with respect to coal royalties under section 881 (a). The taxable income so computed will reficia, in addition
0-W-71376-1
Income from all other sources within the United States, gains from sales or Stores, and in such cases taxes of this nature will be reflected in taxable income
changes made within the United States of capitol assets including stocks, securi. stated in item I instead of being stated separately as a deduction in item 7.
ties, and commodities. Although such gains may not be subject to tax under S. Net operating loss for the preceding year deductible under section 545 (b)
section 881 (a), they are subject to tax imposed by section 541. (Q.-Section 545 (b) (4) provides that in lieu of the net operating loss deduction
2. Amount to be included in income where lien in favor of the United States provided in section 172 there shall be allowed the amount of the net operating loss
is satisfied or released.-The sum of the amounts deducted from taxable income (" defined in section 172 (c) ) for the preceding taxable year.
under section 543 (b) (9) with respect to any hen in favor of the United States 11. Lim in favor of the United States.-The taxpayer my deduct the mount,
must be added to taxable income, in computing undistributed personal holding not to exceed its taxable income, of any lien in favor of the United States (notice
company income, in the taxable year in which the lien is satisfied or released. Where of which has been filed as provided in section 6323 (a) (1). (2), or (3) ) to which
*A amount is so added to taxable income, the shareholders of the corporation may, the taxpayer is subject at the close of the taxable year.
pursuant to regulations prescribed by the Secretary or his delegate, elect to compute 13. Deduction for divideruls paid-Enter as item 13 the amount of the dividends-
the income tax with respect to such dividends as are attributable to such amount paid deduction as computed in Schedule D. The deduction for dividends paid is
as though they were received ratably over the period the Jim waii in effect. the sum of (1) the dividends paid during the taxable year, (2) the consent dividends
3. Expenses and depreciation applicable to property of the taxpayer in excess of
for the taxable year, and (3) the dividend carryover from the two preceding taxable
amount allowable under section 545 (b) (8)~Jf the corporation derived rent
years
or other compensation for the use or right to we property which was less than the In general, a consent dividend is not an actual corporate distribution but is a
sum of the expenses incurred in connection therewith and deductible under section
hypothetical distribution evidenced by shareholders' consents to treat as a dividend
162 and the depreciation allowable under section 167, Schedule A should be filled
an mount which would constitute a dividend if distributed in money to such share.
in and the excess of the expenses and depreciation over the rent or other compensa. holders on the list day of the taxable year of such corporation. Such consent divi.
tion shown therein should be entered as item 3, page 1. This adjustment must be
dend may be availed of only if the person filing such consent owns common stock
made unless the taxpayer establishes, in accordance with section 345 (b) (8), that
(or participating preferred stock the participating rights of which am unlimited),
the rent or other compensation received was the highest obtainable, or, ff none was and the amount specified in the consent is pro rata, with no preference to any sham
received, that none was obtainable; that the property was held in the course of a of stock as compared with other shares of the same class, and with no preference
business carried on bow fide for profit; and either that there was reasonable expec- to one class of stock as compared with another class except to the extent that the
tation that the operation of the property would result in a profit~ or that the property former is entitled to such preference. The effect of the consent is that the amount
was necessary to the conduct of the business. of the consent dividend is treated both as a dividend and as a contribution to the
Ile burden of proof will rest upon the taxpayer to sustain the deduction of the
cailtal of the corporation by the shareholder on the last day of the taxable year
aggregate of the expenses and depreciation allowed under subtitle A in excess of of the corporation. A consent shall be filed in duplicate on Form 972 at my time
the rent or other compensation derived froin the property. A corporation claiming but not later than the due date of the corporation's income tax return for the taxable
such excess deductions shall, in lieu of filling in Schedule ~, attach to the return
year for which credit is claimed. In addition, Form 973 must be filed by the
a statement setting forth its claim for allowance of the deductions together with a taxpayer corporation.
complete statement of facts, circumstances, and arguments on which it relies in
The dividend comover to a taxable year shall be determined as follows:
support of the deductions. Such statement shall include: (1) For each of the 2 preceding taxable years there shall be determined the tax.
(a) A description of the property;
able income computed with the adjustments provided in section 545 (relating to
(b) The cost or other basis to the corporation and the wrote and value of the
the computation of undistributed personal holding company income) (whether or
consideration paid for the property;
not the taxpayer was a personal holding company for either of such preceding
(c) The name and address of the person from whom acquired and the date
taxable years), and there shall also be d~termined for each such year the deduction
thereof;
for dividends paid during such year as provided in section 561 (but determined
(d) The name and address of the person to whom leased or rented, or the person
without regard to the dividend carryover to such year).
permitted to use the property, and the number of shares of stock, if any, held by
(2) There shall be determined for each such taxable year whether there is an
such r!~U and the members of his family;
(0 nature (cask securities, services, etc.) and gross amount of the rent or excess of such taxable income over such deduction for dividends paid or an excess
of such deduction for dividends paid over such taxable income, and the mount of
other compensation received or accrued for the use of, or the right to use, the
each such excess.
property during the taxable year and for each of the five preceding years and the
(3) If there is an excess of such deductions for dividends paid over such taxable
amount of the expenses incurred with respect to, and the depreciation sustained on,
income for the Erst preceding taxable year, such excess shall be allowed as a divi.
the property for such years;
dend carryover to the taxable year.
(J) Evidence that the rent or other compensation was the highest obtainable and
(4) If them is an excess of such deduction for dividends paid over such taxable
If none was received or accrued, a statement of the reasons therefor;
income for the second preceding taxable year, such excess shall be reduced by the
JS) A copy of the contract, lease, or rental agreement;
amount determined in paragraph (5), and the remainder of such excess shall be
(h) The purpose for which, the property was used;
allowed as a dividend carryovef to the taxable year.
(i) The business carried on by the corporation with respect to which the prop-
(5) The mount of the reduction specified in paragraph (4) shall be the mount
erty was held and the gross income, expenses, and net income derived from the
of the excess of the taxable income, if my, for the first preceding taxable year over
conduct of such business for the taxable yesur and for each of the five preceding
such deduction for dividends paid, if any, for the first preceding taxable yew.
years;
14. Amounts used or irrevocably set aside to pay or retire indebtedness of any
(j) A statement of any reasons which existed for expectation that the operation
kind incurred prior to January 1, 1934.-Enter as item 14 the total amount
of the property would be profitable, or a statement of the necessity for the we of
reflected in line 12, Schedule E. Section 545 (b) (7) provides that in determining
the property in the business of the cqrporation and the reasons why the property
undistributed personal holding company income there shall be allowed as a deduc.
was acquired;
tion amounts used or irrevocably set aside to pay or retire indebtedness of my kind
(4) Any other information on which the corporation relies.
incurred
to before January 1, 1934, if such mounts ate reasonable with reference
5. Additional contributions or gifts deductible under section 545 (b) (2) (not
the size and terms of such indebtedness.
deducted in computing item 1).-Fof purposes of the personal holding crimpany,
two, section 545 (b) (2) provides for a larger limitation on deductions for chari- 17. Dividends paid after close of taxable year (excluding deficiency dividends as
limitation for purposes of determining the defined in section 547 (d)).-Enter as item 17 and not in Schedule D, the amount
table contributions than the 5 percent
of the dividends paid after the close of the taxable year and before the 15th day of
corporate tax. The limitations on charitable deductions of individuals arre appli.
the third month thereafter, if the taxpayer elects in its return for the taxable year
cable but am to be applied to the mount of taxable income to which the 5 percent
to haw such dividends considered as paid during such taxable year. The amount
limitation applied. (See Specific Instruction 23, Form 1120.) However, a further
allowed as a dividend under this paragraph with respect to my taxable year shall
adjustment for this purpose is that the taxable income shall also be computed
not exceed either the undistributed personal holding company income of the cor.
without the deduction of the amount disallowed under section 545 (b) (8)
poration for the taxable year, computed without regard to the dividends paid
(relating to expenses and depreciation applicable to property of the taxpayer).
pursuant to this paragraph (Item 16 of page I of this Schedule) or 10 percent of
& Federal income and exceas profits taxes.-Section 545 (b) (1) provides that
the sum of the dividends paid during the taxable year, computed without regard
there &hall he allowed as a deduction Federal income and excess profits taxes (other
to this paragraph (i. e. 10 percent of line 3, Schedule D).
than the excess profits tax imposed by sulichapter E of chapter 2 of the Internal
Neither item 13 nor item 17 should include "deficiency dividends." The term
Revenue Code of 1939 for taxable years beginning after December 31, 1940)
"deficiency dividends" means in general only those dividends which are paid by a
accrued during the taxable year, but not including the accumulated earnings nix
pursuant to a specific procedure set forth in section 547, which includes
acorporation
imposed by section 531, the personal holding company tax imposed by section 541,
requirement that there must first be a determination by a court, by closing agree-
of the nixes imposed by corresponding sections of a prior income tax law. How-
ment, or (under regulations) a written agreement signed by the District Director
ever, a taxpayer shall deduct Federal income and excess profits taxes under this
and by or on behalf of the taxpayer relating to the liability of the corporation for
paragraph when paid if for each taxable year in which it was subject to nix imposed
personal holding company tax.
by section 500 of the Internal Revenue Code of 1939 it deducted such taxes when
paid. unless it elects, in its retum for a taxable year ending after June 30, 1954, Schedule required under section 6501 (f).-Section 6501 (f) provides as
to deduct the taxes described in this paragraph when accrued. Such an election follows:
doill be irrevocable and shall apply to the taxable year for which the election is (f) Personal Holding Company Tasr.-If a corporation which is a personal
made and all subsequent taxable years. holding company for my taxable year fails to file with its return under chapter 1
7. Income, war-profits, and excess profits taxes of a foreign country or U. S. for such year a schedule setting forth-
possession (not deducted in computing item 1)~The credit allowed to domestic (1) the items of gross income, described in section 543 (a), received by the
corporations by section 901 for income, war-profits, and excess prolits taxes of corporation during such year, and
foreign countries and U. S. possessions is not allowed as a credit with respect to the (2) the names and addresses of the individuals who owned, within the mean.
personal holding company tax. However, there shall be allowed w a deduction ing of section 544 (relating to rules for determining stock ownership), at any
the income, wit profits, and excess profits taxes of foreign countries and possessions time during the last half of such year more than 50 percent in value of the
of the United States accrued during the taxable year, even though the taxpayer outstanding capital stock of the corporation,
claims a credit for such taxes in computing its income tam the personal holding company tax for such year may be assessed, or a proceeding
Foreign corporations should treat such taxes as deductions to be allocated in in court for the collection of such tax may be begun without assessment, at any
accordance with section 861 in computing income from sources within the United time within 6 years oftat the return for such yoar was filed.
. . -.a- - OW-6-11STS-1
FORM 1120 L
_.
S. Tneusury D*:*,ftlant
U. S. LIFE INSURANCE COMPANY INCOME- TAX RETURN
YEAR 19S4 - 1954
UIsitainnual iii I FOR CALENDAR Do not writein space below
S-ial No.
PLEASE TYPE OR PRINT PLAINLY
Number and Stneat City w t-, postal cone number, State
Date incorporated Pl- incorporated
I
3. Amortization of 4 Tor
ucff an (In Case of R6 umn I Plus
, ..41'snon do. GROSS INCOME 1. Interest Received 2. Accrual of Discount PFOMiUm Column 2 LmI' Column 3)
1. Interest on:
$------------------------ $------------------------ $ ------------------------ $----------------------------------
(b) Uoi1Z St`a1_ZS..'a~'.Md IA*t-' ad T--.!:,"'d;
lto. c;
------------------------- ------------------------- -----------------------------------
(o) Oblig=lf",
the - at cd 15,000 issued prior 1. March 1, 1941 .....
..t~~_.talidea -------------------------
of the United States issued p or to ------------------------- -----------------------------------
(d) March 1, 1941 ................................................ ------------------------- -------------------------
Obligations I ..ad on or after Mcurch 1, 1941, by the Unl[V States ------------------------- -----------------------------------
or any agency ~ instrumentality t1vareof. (Attavch whd, ) ...... ------------------------- -------------------------
(a) I-ms, notes, mortgages, bank deposits, bonds, debentures, etc ........
$--------------------------------
Total. .......................................................
2. Dividends on stock of:

(a) Domestic corporations subject to taxation under Subtitle A of the Internal Revenue Code of 1954. (See Specific Instruction 2).
(b) Public utility corporations subject to taxation under Subtitle A of the Internal Revenue Code of 1954 ..................
(c) Foreign corporations .........................................................................................
(d) Other corporations ................ ..........................................................................
3. Rents. (Attach schedule) ........................................................................................
4. Total income in itemn I to 3 .................................................................................... $ ----------------------------------
DEDUCTIONS
Interest wholly exempt from tax (item I (a), column 4) .......................................... $------------------------------
Investment expenses. (Attach schedule) ....................................................
7. Taxes ....................................................................................
Real estate expenses .......................................................................
Depreciation. (Attach schedule) ...........................................................
10. Total deductions in items 5 to 9 ................................................................................
11. Taxable income before special deductions for partially tax-exempt interest and dividends received (item 4 minus item 10) ... $
12. Taxable income before special deductions (item 11) ................................ ........... is ------------------------------
13. Less: Interest partially exempt from tax (item 1 (b) and W, column 4) ........................
14. Item 12 less item 13 ........................................................................ $------------------------------
Is. Less: Dividends received deductions-
(a) Enter 85 percent of Item 2 (a) ............................ &-----------------------------
(b) Enter 62.115 percent of item 2 (b) ........................
(c) Enter 85 percent of dividends received from certain foreign
corporations .........................................
(d) Total dividends received deductions. Enter sum of (a), (b), and (c), but....
no!.Io ...
ex
85 percent of item 14......................... ! .............
16. Taxable income .................................................................. .. $ ------------------------------
17. Adjustment for certain non-life insurance reserves (appliccible only to contracts other than life iri~, I
ance or annuity contracts)-
(a) 3% percent of mean of unearned premiums and unpaid losses on
such other contracts at beginning and end of year ..............
(b) 3Y4 percent of 25 percent of net premiums on such other contracts
written during year ............................ : ............. $------------------------------
(c) 3Y4 percent of mean of unpaid losses on such other contracts at
beginning and end of year ....................................
(d) Item W plus item (c) ...........................................
(a) Item (a) or (d), whichever is greater ............................. ------------------------------
(f) Item (e) multiplied by 8 ...............................................................
18. Sum of items 16 and 17 (f) .................................................................. $------------------------------
19. Less: Reserve interest credit (from line 6, Schedule Q ......................................
20. 1954 life insurance company taxable income ................................................. 1$
CODMUTATION OF TAX
21. Tax. If amount in item 20 is:
Not over $200,000, enter 3Y4 percent of item 20 ...............................................................
Over $200,000, enter $7,500 plus 6M percent of excess over $200,000 ........................................... $----------------------------------
22. Less: Credit for income taxes paid to a foreign country or United States possession allowed a domestic corporation. (Attach
Fo~ 1118) .........................................................................................
23. Total Income tax due ..............................................................................................
Did the corporation pay anyone other than an employee for assistance in the preparation of this return? [3 Yes NO
If answer is "Yes," enter his name and address.
SIONATURE AND VERIFICATION (See Inaitmetim E)

I, the undersigned, president, vice president, treasurer, assistant treasurer, chief accounting officer (or other duly authorized officer) of the corporation for
which this return is made, declare under the penalties of perjury that this return (including any accompanying schedules and statements) has been examined
by me and is, to the best of my knowledge and belief, a true, correct, and complete return, made in good faith, for the taxable year stated, pursuant to the
internal Revenue Code and the regulations issued thereunder.
CORPORATE
BEAL
I --------- --------------------------------------------------------------- --- ------ - ------------------------------------------------------------------
(Signature of officer) critle)
I declare under, the penalties of perjury that I prepared this return for the person named herein, and that this return (including any acoompanying schedules
and statements) is, to the best of my knowledge and belief, a true, correct, and ocumplete return based on all the information relating to the matters required
to be reported in this return of which I have any knowledge.
------------------------ - --- - ---------------------------------------

andividual or firm signature) (Add..4 16-71347-1
0).t.)
lAft"age X-b"A rM Rigilin" MO 0"M POLE" LIUMM ftft" rOR "M Sillf"111BODISTAZA111,11 TM (Seas 9081xvdam Inar Ask." A)
2. Assumed 4. Method at
1. Return of Ream Is 3. Assumed 5. Amount of of
MP:big
d Raw" 6. Amount of Adjusted Rmarve
Ints"d 7. Mean of Columns & Column (3) Times
(Ufa, Annuity, Do.) (I 111Com
.1:361.1=rd, at Beginning Year- at End of Taxable Year- (5) and 0) Column (7)
Table Rate Ele )
I - ------------------------- -- --------- 8-----------------------

L ---------- ------------------- -----
3- --------------------------------------
4- --------------------------------------- I------------- I-----------I ----------------- I ----------------------------- I---------------------_ _
8. Totals .... . ... . . ...................................................................... 11 11
L Average rate of interest assumed In computing life insurance reserves (total of column 8 above divided by total of column 7 above). .
T. 35 percent of line 6 ...................................................................................................... -------------------- %
S. 2.1125 percent (65 percent of 3Y4 percent) .................................................................................. 2.1125%
9. Reserve earnings rate aine 7 above plus line 8 above) ......................................................................
10. Total of column 7 multiplied by line 9 above ................................................................................ $-------------_--------
11. 2 percent of the reserve held for deferred dividends ..........................................................................
12. Interest paid or accrued ..................................................................................................
13. Total of lines 10, 11, and 12 above ..................................................................................
14. Taxable income before special deductions for partially tax-exempt interest and dividends received (item 11, page 1) ................ -----------------------
11. Interest wholly exempt from tax (item 5, page 1) ............................................................................. $------------------------
14. Adjustment for unearned premiums and unpaid loom on non-life Insurance reserves (item 17 (e), page 1) ......................... 1$
In the cose of mes-as -aputed on a pmlimbiary tonn bads. 107% of fh* am-nt of the
Sobsellaak 3,4NVXST= AM= DOOZ VALVEN (Seas Inurtraictleas 8)
(Selluedhalls, 3 S"d suat be Oil" las V me dealim"m is allelimend Ran many gannead expenses, that none aBosetmall to imerseemesent beenexamp)
1. Beginning of taxable YUF 2. End of taxable year
1. Real estate .......................................................................... .. 1$ Is

2. Mortgage loans .........................................................................
3. Collateral loans ........................................................................
4. Policy loans, including premium notes .....................................................
5. Bonds of domestic corporations ...........................................................
6. Stocks of domestic corporations ...........................................................

T. Government obligations, etc. (Submit detailed schedule) .................................
S. Bank deposits bearing interest ............................................................
0. Other interest-bearing assets (Attach statement) ..........................................
IL Totals of lines 1 to 9 ...............................................................
11. Total of columns 1 and 2, line 10 ................................................................................... S --- --------- ------- -----------
IL Mean of the invested asses for the taxable year (one-half of line 11) ................................................... $----------------------------------
13. One-fourth of I percent of the mean of the invested assets............................................................. S
14. Income base (item 4, page 1, minus the sum of items 7, 8, and 9, page 1) ............................................... $----------------------------------
16. 3y, percent of line 12 .............................................................................................
16. Excess (if any) of line 14 over line 15 ...............................................................................
17. One-fourth of line 16 ............................................................................................. I
18. Limit on deduction for investment expenses (line 13 plus line 17) ....................................................... Is
flakeekedle C~4RMMVZ MTZRWT CKMIT (11~ Imstruetten 19)
1. Sum of items 5 and 11, page 1 ..................................................................................... $ ------------------------------- _

2. 50 percent of item 17 (e), page 1 ...................................................................................
3. AdjusW taxable income (line I minus line 2) ........................................................................
L Required interest--
(a) Total of column 8 (line 5), Schedule A ............................................. $------------------------------ ---
(b) 2 percent of reserve for deferred dividends .......................................... -----------------------------------
(c) Interest paid ....................................................................
Q Sum of lines (a), (b), and (c) ................................................................................
5. Line 3 divided by line 4 (d). Enter percentage .................................................
6. Reserve interest credit-If percentage on line 5 is:
105 or more, enter zero .......................................................................................
100 or lose, enter 50 percent of item 16, page I ..................................................................
mom than 100 but less than 105, enter a -------------------- % of item 16, page I ......................................
Multiply by 10 the diff-oa bet-en 105 Moea~t =d p-tage = line S and -ter pe-ntage thus obtained.
ADDMONAL DMUMT10K REGUMD
1. Was a return filed under the same name for the preoed- 6. Did the company at any time during the taxable year
ing taxable year? ............................... 0 Too El NO directl or indirectly any stock of a foreign
owm
corporati..7 ................................... 0 Yen 0 No
L State amount of deferred dividend funds at end of
taxable year, exclusive of any amount held for pay. If answer is "Yes," attach statement required by General
ments in following taxable year ................... $ ------------------- Instruction J.
3. Is this a consolidated return? ........................ El Yen 0 No 7. Did the company file with the District Director of Internal
If "Yes," procure from the District Director of Internal Revenue a copy of the annual statement for the reced-
Revenue for your district Form 851, Affiliations ing year as required by General Instruction T? ..... 0 Yes 0 No
Schedule, which shall be filled in and filed as a part If answer is "Yes," state District Director's office in which
of this return. statement was filed.
4.,If this is not a consolidated return-
(a) did the company at any time durin~gna,I.ho, stocktaxable
of
year own 50 percent or more of the S. If a copy of the annual statement required by General Instruction K does
another corporation either domestic or foreign? ..... 0 Yes O NO not accompany this return, state reason why the statement is not
(b) did any corporation, individual, partnership, trust, attached.
or association at any time during the taxable year
own 50 percent or more of your voting stock? ....... 0 Yes 0 No
If either answer is "Yes " att h to schedule
showing: (1) Name and' address; acj se(P)~:rcentage of
stock owned; (3) date stock was acquired. and (4) the
District Director's office in which the income tax return
of such corporation, individual, partnership, trust, or 9. If the company Is a burial or funeral benefit Insurance company, state
association for the last taxable year was filed. whether it is engaged directly in the manufacture of funeral supplies
or in the performance of funeral services.
1. Did the company make a return of information on Forms
1096 and 1099 or Form W-2 for the calendar year
1954 (See General Instruction 11)? ................. 0 Yes El No
16-71347-1
INSTRUCTIONS FOR FORM 1120 L
1954 U. S. LIFE INSURANCE COMPANY INCOME TAX RETURN 1954
(References are to the Internal Revenue Code of 1954 unless otherwise noted)
Taxpayers will find it helpful to read the General Instructions A to L Wore commencing to fill in their returns
A. Companies required to file a return-Every domestic life insurance imposed for failing to file a return for late filing, and for filing a false or fraud-
oornpany and every foreign life Insurance company carrying on an insurance ulent return.
business within the life States (if with respect to its United States business
as aUnited H. Information at source.-Every insurance company making payments
it would qualify insurance cornp6ny), which is engaged in the busi- in the course of its trade or business of (1) interest, rents, commissions, or other
ness of issuing life insurance and annuity contracts (either separately or com- fixed or determinable income of $600 or more during the calendar year 1934
bined with health and accident insurance) or noncancellable contracts of to an individual, a partnership, or a fiduciary, or (2) salaries or wages of $600
health and accident insurance and of which the life insurance reserves, plus or more shall make returns on Forms 1096 and 1099, except that the making
unearned premiums and unpaid losses on noncancellable life, health, or of such return will not be required with respect to salary or wage payments
accident policies not included in life insurance reserves, comprise more than included on Form W-2, provided copies of withholding statements on Form
50 percent of its total reserves, shall file a return on this form. (See section W-2 are furnished. If a portion of such salary or wage payments was reported
801.) on a Withholding Statement (Form W-2), only the remainder must be reported
If a receiver, trustee in dissoluftor~ trustee in bankruptcy, or assignee has on Form 1099.
possession of or holds title to all or substantially all the property or business The returns on Forms 1096 and 1099 shall also include dividend payments
of a corporation, whether or not the property or business is being operated, totaling $ 10 or more during the calendar year 1954 to each shareholder who
he must make a return of income for the corporation in the same manner and is an individual (citizen or resident of the United States), a resident fiduciary,
form required of other corporations. (See section 6012.) or a resident partnership any member of which is a citizen or resident
B. Period covered.-The return shall be for the calendar year ended 1. Information by corporations-1. Contemplated dissolution or
December 31, 1954, and the taxable income computed on the calendar yew liquidation.-Every corporation shall, within 30 days after the adoption by
basis in accordance with the State laws regulating insurance companies. the corporation of a resolution or plan for the dissolution of the corporation or
C. Accounting Methods.-A return on this form shall be filed using the for the liquidation of the whole or any part of its capital stocl~, render a correct
cash or accrual method of accounting, except that whichever method is adopted return on Form 966 setting forth the terms of such resolution or plan. (See
in filing the company's first return must be followed until the consent of the section 6043.)
Commissioner is received to change the method. 2. Distribution in liquidation-Every corporation making distributions in
D. Time and place for filing.-The return must be sent to the District liquidation of the whole or any part of its capital stock shall also make returns
Director of Internal Revenue for the district in which the company's principal on Forms 1096 and 10994 as required by instructions on Form 1096, for the
place of business or principal office or agency is located, on or before March calendar year 1954.
15, 1955. J. Stock ownership in foreign corporations.-In addition to the schedule
E. Signature and verification.-The return must be signed either by the required by Specific Instruction 2, a corporation owning any stock of a foreign
president, vice-president, treasurer, assistant treasurer or chief accounting corporation must attach a statement showing the name and address of
each company and the total number of shares of each class of outstanding
officer, or by any other corporate officer authorized to sign. A receiver trus-
stock owned during the taxable year. If the corporation owned 5 percent or
tee, or assignee must sign any return which he is required to file on b;~alf of
more inavalue of the outstanding stock of a foreign personal holding company,
a corporation. The statement at the bottom of page I of the return is required
attach statement setting forth in complete detail the information required
to be signed by any person, firm, or corporation who prepared the taxpayer's by section 551 (d).
return. If the return is prepared by a firm or corporation, it should be signed K. Annual statement.-A copy of the annual statement for life Insurance
in the name of the firm or corporation. The statement is not required if the companies adopted by the National Convention of Insurance Commissioners
return is prepared by a regular, full-time employee. for the year 1954, as filed with the Insurance Department of the State, Terri-
r. Payment of tax.-The tax must be paid in full when the return is filed tory, or District of Columbia, which shows the reserves used in computing the
or in two installments, 50 percent on or before the 15th day of the i man net income reported on the return, together with copies of Schedule A (real
and 50 percent on or before the 15th day of the sixth month following the close estate) and Schedule D (bonds and stocks), must accompany the return. Sim-
of the taxable year. ilar copies for the preceding year must also be furnished, if not filed for such
If any installment is not paid on or before the date fixed for its payment, the year. In the case of a foreign life insurance company carrying on a life in-
whole amount of the tax unpaid shall be paid upon notice and demand by the eurance business within the United States, the copies submitted shall be those
District Director. The tax may be paid in cash or by check or money order relating to the United States business of the company.
drawn to the order of "District Director, 1. R. S." Cash payment should be made L. List of attached schedules.-Attach a list of the schedules accom-
only in person at the District Director's office. ponying the return, giving for each a brief title and the schedule number.
0. Penolties.-Failure to file, etc.-Substantial additions to the tax are Place name and address of company on each schedule.
SPECIFIC INSTRUCTIONS
The fonowing instructions are numbered to correspond with item numbers an the first page of the retm,
1. Interest.-Enter interest received or accrued from all sources during the 7. Taxes.-Enter taxes paid or accrued exclusively upon real estate owned
taxable year. The gross amount of interest reported as gross income shall be by the company and taxes assessed against individual shareholders and paid
decreased by the amortization of premium and increased by the accrual of dis- by the company without reimbursement as provided in section 803 (g) (3).
count attributable to the taxable year on bonds, notes, debentures, or other evi- Do not include taxes assessed against local benefits of a kind tending to in.
dences of indebtedness, determined (1) in accordance with the method regu- crease the value of the property assessed, as for paving, sewers, etc. (For
larly employed, if reasonable, or (2) in accordance with regulations prescribed limitation on deduction, see Instruction 10 (b).)
by the Secretary or his delegate. (Attach statement showing method and 8. Real estate expenses-Enter all ordinary and necessary building
computation.) expenses, such as fire insurance, heat, light, labor, etc., and the cost of
2. Dividends-Enter as item 2 (a) the amount received or accrued as divi- incidental repairs which neither materially add to the value of the property
dends from a domestic corporation which is subject to taxation under Subtitle A, nor appreciably prolong its life, but keep it in an ordinarily efficient operat.
except dividends on certain preferred stock of a public utility, dividends re- ing condition. Do not include any amount paid out for new buildings or for
ceived from a corporation entitled to the benefits of section 931, and from a permanent improvements or betterments made to increase the value of any
corporation organized under the China Trade Act 1922. Enter as item 2 (b) property or any amount expended on foreclosed property before such property
dividends received on certain preferred stock of a public utility which is sub- is held forth for rental purposes. (For limitation on deduction, see Instruction
ject to taxation under Subtitle A. Enter as item 2 (c) dividends from foreign 10 W-)
corporations. Enter as item 2 (d) dividends from all other corporations, in- 9. Depreciation.-The amount deductible on account of depreciation is an
cluding dividends on share accounts in Federal savings and loan associations amount reasonably measuring a portion of the investment in depreciabl
issued on or after March 28, 1942. Enter in item I (c) dividends on share property which, by reason of exhaustion, wear and tear, or obsolescence, is
accounts in Federal savings and loan associations issued prior to March 28, properly chargeable against the operations of the year. In any event the
1942. Submit schedule, itemizing all dividends received during the year, deduction is limited to the depreciation on the property that'is used, and to the
stating the names and addresses of the corporations declaring the dividends extent used, for the purpose of producing the income specified in section 803 (a).
and amounts received from each. The amount of depreciation should be determined upon the basis of the original
3. Rents.-Enter rents received or accrued from tenants. cost (not replacement cost) of the property, and the probable number of years
S. Interest wholly exempt from tax.-Enter the amount of interest which remaining of its expected useful life.
is wholly exempt from taxation under the provisions of section 103. (a) Straight line method.-The most common method of computing depreci-
6. Investment expenses-Enter experises paid or incurred which are ation is the "straight line" method. It allows for the recovery of cast in equal
properly chargeahle to investment expenses, the total amount of which, if there annual amounts over the life of the property, with only salvage value remaining
be any allocation of general expenses to investment expenses, should not exceed at the end of its useful life. To compute the deduction, add the cost of improve-
one-fourth of 1 percent of the mean of the invested assets reported on line 12, ments to the cost (or other basis) of the asset and deduct both the estimated
Schedule B, plus, in cases where the taxable income computed without any salvage value and the total depreciation allowed or allowable In past years.
deduction for (1) investment expenses and (2) tax-free, interest, exceeds 3% Divide the result by the number of years of useful life remaining to the asset
percent of the book value of such mean of the invested assets, one-fourth of the quotient in the depreciation deduction.
such excess. Submit a schedule showing the nature and amount of the items (b) Declining balance method.-Under this method a uniform rate is
included herein, the minor its= being grouped in one amount. (See section applied each year to the remaining cost or other basis of property (without
803 (g) (2).) adjustment for salvage value) determined at the beginning of such year. For
16-71347-1
propetly aoquiredbeforeTarrucry 1, 1954, or used property whenevaracquired, on amount deductible; (b) 62.115 percent of the arsount received as dividends
the rate of depredation under this method may not exceed one and one-half on the preferred stock of a public utility which is subject to income tax and is
timses the applicable straight line rate. allowed a deduction, as provided in section 247, for dividends paid- and (a)
(c) Special rules for now assets, acquired after December 31, IM.-The 85 percent of dividends received from certain foreign corporations. See
cost or other basis of an asset acquired after December 31, 1953, may be section 245 for qualifications and limitations on the amount of this deduction.
depreciated under methods proper in the past or, it may be depreciated under Dividends received from a corporation described in section 246 (a) (China
any of the following methods provided (1) that the asset is tangible, (2) that it Trade Act Corporation, etc.) should be entered in Item 2 (d).
has an estimated useful life of three years or more, and (3) that the original use 17. Adjustment for certain non-life insurance reserveg.-For oom.
of the asset commenced with the taxpayer and commenced after December 31, panies, writing contracts other than life insurance or annuity contracts (either
1953. If an asset is oonstructed, reconstructed, or erected by the taxpayer, separately or combined with noricancellable health and accident Insurance),
so much of the basis of the asset as is attributable to construction, reconstruction add to the taxable income 3~4 percent of the unearned premiums and unpaid
or erection after December 31, 1953, may be depreciated under methods losses on such other contracts which are not included in life insurance reserves,
proper in the past or, it may be depreciated under any of the following methods but not less than 3y, percent of unpaid losses plus 3Y4 percent of 25 percent
provided the asset meets qualifications (1) and (2) above. of the net premiums written during the taxable year on such other contracts.
(1) Declining Worurs, method.-This method may be used with a rate Section 805 (a) provides that there shall be added to normal-tax net income
not in excess of twice the applicable straight line rate. an amount equal to eight times the amount of the adjustment for certain re-
(2) Burn of the years-digitin method-Under this method annual allow. serves provided in awtion 806.
ances for depredation are computed by applying changing fractions to the 19. Reserve interest credit.-Schedule C on page 2 should be used to
taxpayer's cost or other basis of property (reduced by estimated salvage value). compute the amount of the reserve interest credit The reserve interest credit
A deduction for each year is computed by multiplying the cost or other basis is allowed in instances in which the relationship between adjusted taxable
of the asset (reduced by estimated salvage value) by the number of years of income and required interest is such that the adjusted taxable income is less
useful life remaining (including the year for which the deduction is computed) than 105 percent of the required interest. The term "adjusted taxable in-
and dividing the product by the sum of all the digits corresponding to the years come' to defined as the taxable income computed without any deduction for
of the estimated useful life of the asset. In the case of a five-year life this sum tax-free interest or without the benefit of the special deductions provided by
would be 15 (S plus 4 plus 3 plus 2 plus 1). For the first yew 5-15th of the sections 242 through 245, minus 50 percent of the amount of the adjustment
cost reduced by estimated salvage value would be allowable, for the second for certain non-Iife insurance reserves. The term "required interest" means
year 4-15th, etc. the total of-
(3) Other methods.-A taxpayer may use any consistent method which
(1) The sum of amounts obtained by multiplying (a) each rate of Interest assumed in com~
dose not result in accumulated allowances at the end of any year greater than p,ting, the life insurance reserne. by (b) the means; of the amounts of the adjusted! neerrse
the total of the accumulated allowances which would have resulted fram the computed at that -is at the beginning and end of the taxable year.
use of the declining balance method. This limitation applies only during the (2) Two percent of the - for deferred dividends. and
first two-thirds of the useful life of the property. (3) Interest paid.
If a deduction is claimed on account of depreciation, a schedule should be If the adjusted taxable income is 105 percent or more of the required interest
filed with the return showing: (1) description of the property, (2) date of acquist- the reserve interest credit is stated as zero. If the adjusted taxable income is
tion of the property; (3) the cost or other basis of the asset, (4) the amount of 100 percent or less of the required interest, the reserve interest credit is deter-
depreciation allowed and allowable in prior years; (5) the method under mined as an amount equal to 50 percent of the taxable income. If the ad-
which the depreciation allowance is being claimed,- (6) rate of depreciation, justed taxable income is more than 100 percent but less than 105 percent
and expected useful life; and (7) depreciation allowance this year. In case of the required interest the reserve interest credit Is computed by multiplying
obsolescence is included, state separately amount claimed and basis upon the taxable income by ten times the difference between 105 percent and the
which it is computed. Cost or value of land is not subject to depreciation, actual percentage established. The percentage established by comparing
and when land and building were purchased for a lump sum the cost of the adjusted taxable income to the required interest should be carried to at least
buildings subject to depreciation must be established. the nearest one-tenth of a percentage point with the, result that the multiplica-
The adjusted property accounts and the accumulated depreciation shown in tion by ten of the difference between 105 percent and such percentage will be
the schedule should be reconciled with those accounts as reflected on the books productive of a more accurately graduated figure than would be possible
of the taxpayer. For limitation on deduction, see Instruction 10 (b) below. were no such fractional percentage to be allowed.
10. Total doduadons-40 Enter the total of items, 5 to 9, inclusive. 22. Credit for income taxes paid to a foreign couiritry or United Stalse
(b) Linnittise, on dd..K.- .ItLng I. real estot. owned and comspid.-Ths, d-d-c- poevession.-If, in accordance with section 901, a credit is claimed by a
am included in items 7 to 9 an account of real *date owned and occupied in whole ~ in part domestic corporation in item 22, on account of income, war-profits and excese,
by the courpmuT shall be limited to an ammad which bears the More ratio to such deduction
(computed without regard to section 803 (h)) a. the rental ~alue of the space not so occupied profits taxes paid or accrued to a foreign country or a possession of the United
bears to the -lot a]- of the -it- Pr-P-q. (Submit detailed schedule) States, Form 1118 should be submitted with the return, together with the re.
(a) Itessm not deductLble.-No deduction I. allowable for the amount of any item or part oelpt for each such tax payment. In case credit is sought for taxes accrued
thereof orrocable to a class of exempt Income, other than interest. Items directly attributable but not paid, the form must have attached to it a certified copy of the return
to such exempt income hall be allocated therein, mid it.= directly attributable on which each such accrued tax was based, and the District Director may re-
taxable income shall be allocated to such taxable I--. If an It- 1. indirectly to attributable
-7 -1.- of
to both taxable income and exempt income. a reasonable proportion thereof, determined in the quire a bond on Form 1119 as a condition precedent to the allowance of a
light of an the facts mid circumstances in each case, shall be allocated to each. Apportion, crewt for such accrued fares. A foreign company is not entitled to claim thits
must in oil ocese be reasonable. A taxpayer receiring any exempt Incoune, other than credit.
= or holding any property or "agim in any activity the inoorms, from which in exempt
shun submit with its return w a part thereof an itemixed statement in detail. showing (1) the ICKEDULE A-DATA rft RZB11RVZ AND OTHM POLICY LIA,
amount ad each claw of scissaPt inannue, and (2) the mnount of Items U-td to each such
class (the amount allocated by pporU-t being shown -P-t-IT). NUTY CRZDIT MR THE SUCCUDIMIG TAXABLE YEAR
12 thirough 23. Computation of lbazi.-In general.-All life inuumnoe Data for succeeding taxable year.-The following data shall be fur.
companies (including foreign life insurance companies carrying on a life nished in Schedule A by every life imurance company for the computation
insurance business within the United States) cite subject to the tax imposed of the figure, for the succeeding year, to be proclaimed by the Secretary to
by section 802. For taxable years beginning in 1954, section 802 (b) provides, determine the reserve and other policy liability credit:
for a tax equal to 3yd percent of the first $200,000 of 1954 life insurance (1) Ptapsonres, (lines I to 0. inal-sive).-LJO data pertaining to We trururance, resn~
company taxable income and 6S percent of the amount in excess of $200,000. Describe fully the nature of the reserve, the method of camputaticia, the interest rate u-,L and
No consideration is to be given in the computation of the tax to any amount the amount of each such reserns at the beginning mid end of the taxable year. include mor.
tality and morbidity - on nonancellable, life, health, - -.1d..t contracts. Do not
of the reserve and other policy liability deduction provided in section 804. include pro rata meacced premiums ar, unipaid losess an cancellable accident and health
The term "1954 life insurance company taxable income" is defined as the contracts. For reserns. computed an a modified boxis, such as Illinois Standard, or Select and
taxable income plus 8 timses the amount of the adjustment for certain non- Ultimate, list 107 percent of the amount of such reserves. (For definition of life insurance re-
life horrinanos, reserves provided in section 806 and minus the reserve Interest mirres, see sectim 803 and the regulations thereunder.) (For nswernso computed an a modified
basis, sso section 903 and the regulations thereunder.)
credit 0 any, as defined in section 80 (b). The taxable income of a foreign (2) Reserve earnings role (lim 9).-Resseve earnings rate manno a rabe computed by adding
life insurance company carrying on a life insurance business within the United 2.1125 percent (65 percent of 34 percent) and 35 percent of the average rate of Interest ae~
States consists of that portion of its taxable income from the United States sumed In computing hie insurance reissrres.
business (shown on the form approved for life insurance companies by the (3) Reverse for deferred diviclesuls (linus 11)~Enipr an mmuct equal to 2 percent of the
- held at the end of the taxable year for deferred dividends the payment of which I.
National Association of Insurance Commissioners) computed under the pro- deferred for a piniod of not less than 5 years from the date of the policy cautroaL Do not include
visions of section 807. in such reeerve dMdends payable during the following taxable year.
I& Dividends received doiductions.-The deductions provided in line 15 (4) Interest paid ox accrumd (lim le-Enter the amount of interest paid w accrued
during the taxable year an the company's Indebledoess, oxw an indebtedness incurred w
am as follows: (a) 85 percent of the amount received as dividends (except continued to purchase or carry obligations (other than obligations of the United States issued
dividends on certoin preferred stock of public utilities) from a domestic oor- after September 24, 1917, and originally subscribed for by the taxpayer) the Interest upon
poration subject to income tax. Amounts received as dividends fram mutual which 1. wholly exempt from iczation, and all amounts in the nature of interest whether or not
savings banks, cooperative banks, and domestic building and loan associa- guaranteed. paid or accrued within the t ..bl. year an msu- contracts (or cantroat.
adoing out of Insuranot, contracts) which do nor invol- at the time of payment, life, health,
ticno and allowed as a deduction to such banks or building and loan associa- or accident contingencies. Interest an dividends hold an deposit mid surnodred during the
tions sholl not be treated as dividends. In the case of dividends received taxable year should be included in lids It- Do not inal" my liderset an defeersid dividends
from a regulated investment company, see section 854 regarding limitations which were included under (3) abom
.. .. Men- - 10-7186,1
-- 1120 M
V. S. Treasury Department
Internal Revenue Ser%rice
rOR CALENDAR YEAR. 1954
PLEASE TYPE OR PRINT PLAINLY 1954

Do not write in stace below
U. S. MUTUAL No.. Seui.1 No.
INSURANCE COMPANY Numb- and street

INCOME TAX RETURN
For Mutual Companies Oty or town, postal - number. Slow
Other than Life or Marine
Insurance Companies or
Dot, incariporated Place incorporated
Fire Insurance Companies
Issuing Perpetual Policies
(in Case of I 4, Total
In It.. am 1. Interest Received ~ 1, A111"ll 11 lisaltet ~ 1, Arrutinlile 11 1 Pin
;tr-ction No. GROSS INCOME Premium w... ,Ism
Less1, Rolumn, 3)
Interest on: -
$ ----------------------- $------------------------ $------------------------ $ --------------- ----------------------
h ' am I 'bl' a 11" ad i e1c a I
princii,al I
o,,t of $5000 issued priorto rch 1, 1941. --------- ------------------ ------------------------- ------------------------- --------------------------------------
W Oblig ti-of instrumen talities of the United States issued p or to
March
or I , 1941 ............ ...... . . ........ --------------------------------------
(d) Obligations issued a, a, after March 1 1941 the United State. or
any agency or instrumentality thereof (Attacinky. hedule) ............ --------------------------------------
(e) Loans, notes, mortgages, bank deposits, bond,, debentures, to ........
Total- .................................................... 1 $ $--------------------------------------
2. Dividends on stock of:
.
(a) Domestic corporations subject to taxation under Subtitle A of the Internal Revenue Code of 1954. (See specific InBtruc.
tion 2) ................................................................................................... ---------------------------------------
(b) Public utility corporations subject to taxotJon under Subtitle A of the Internal Revenue Code of 1954 ................... ---------------------------------------
(c) Foreign corporations ......................................................................................... ---------------------------------------
(d) Other corporations .......................................................................................... ------------------------------------- -
3. Rents (Attach schedule) ........................................................................................... ---------------------------------------
4. Net gain from sale or exchange of capital assets (from separate Schedule D (Form 1120)) ..................................
S. Total income in items I to 4 ....................................................................................
DEDUCTIONS
G. Interest wholly exempt from tax (item I (a), column 4) ................................................................. $~ ---------------------------
7. Investment expenses (Attach schedule) ............................................................................. ---------------------------------------
S. Taxes ........................................................................................................... ---------------------------------------
9. Real estate expenses .............................................................................................. ---------------------------------------
10. Depreciation (Attach Schedule) .................................................................................... ---------------------------------------
11. Interest paid or accrued ........................................................................................... ---------------------------------------
12. Other capital losses (from Schedule B) ...............................................................................
13. Total deductions in items 6 to 12 ................................................................................
14. Taxable income before special deductions for partially tax-exempt interest and dividends received (item 5 minus item 13) ..... --------------------------------------
15. Less: Interest partially exempt from tax (item I (b) and (c), column 4) ...............................................
16. Item 14 less item 15 ..................................................... : ......................................... $--------------------------------------
17. Less: Dividends received deductions-
(a) Enter 85 percent of item 2 (a) .................................................... $--------------------------------
W Enter 62.115 percent of item 2 N ...............................................
(c) Enter 85 percent of dividends received from certain foreign corporations ..............
(d) Total dividends received deductions. Enter sum of (a), (b), and (c), above, but not to exceed 85 percent of item 16.
18. Mutual insurance company taxable income ............... .................. S
COMPUTATION OF TOTAL TAX
19. Limitation under section 621 (c) (line 26, page 2) ......................................................................
20. Alternative tax Oine 20, separate Schedule D (Form 1120)j if less than line 22, page 2 or line 19 above, whichever is af~pli-
cable, and if company is taxable under section 821 (a) (1) or (b) ....................................................
21. Total income tax Vine 22, page 2, or line 19 or 20 above, whichever is applicable) ............. $-------- -----------------------
n. Less: Credit for income taxes paid to a foreign country or United States possession allowed a
domestic corporation .............................................................
23. Income tax due ...................................................................................................
ADDITIONAL INFORMATION REQUIRED
1. Did the company file a return under the same name for S. Did the company file with the District Director of Internal
the preceding taxable year? ....................... El Yes El No Revenue a copy of the annual statement for the preced-
2. Did
o,!e50co;%nyt n at any time during the taxable year ing year as required by General Instruction K? ....... [I Yes No
or more of the voting stock of another If "Yes," state District Director's office in which state-
corporation, either domestic or foreign? .............. Yes El No ment was filed.
if "Yes," attach separate schedule showing: (1) Name
and address; (2) percentage of stock owned- (3) date 6. If a copy of the annual statement required by General In-
stock was acquired; and (4) the District Director's office struction K does not accompany this return, state reason
in which the income tax return of such corporation for why the statement is not attached.
the last taxable year was filed.
3. Did the company make a return of Hormation on Forms
1096 and 1099, or Form W-2 for the calendar year
1954? (See General Instruction H) ................. El Yes El No
7. Has the cash receipts and disbursements method been
4. Did the company at any time during the taxable year own
directly or indirectly any stock of a foreign corporation?. Ej Yes r_1 No used in preparing this return? ...................... El Yes El No
If "Yes," attach statement required by General Instructions. If "No," describe fully in separate statement.
Did the corporation pay anyone other than an employee for assistance in the preparation of this return? ................................... El Yes D No
If "Yes," enter his name and address.
SIGNATURE AND VERIFICATION (See Instruction E)
1, the undersignecl, president, vice president treasurer, assistant treasurer, chief accounting officer (or other duly authorized officer) of the corporation for which
this return is made, declare under the penalties of perjury that this return (including any accomranying schedules and statements) has been examined by me and
Is, to the best of my knowledge and belief, a true, correct, and complete return, made in good aith, for the taxable year stated, pursuant to the Internal Revenue
Code and the regulations issued thereunder.
COPPORATE
--- ------------------- ---------------------------------------------------------------------------- ---------------------------------------- ----------------------------------- SEAL
(Date) (Signature of officer) (Title)
declare under the penalties of grjury that I prepared this return for the person named herein, and that this return (including any accompanying schedules
and statements)
I is, to the best of my owledge and belief, a true, correct, and complete return based on all the information relating to the matters required to be
reported in this return of which I have any knowledge.
- ------------------ ---------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------

(Indimclual - Flno Stqnwna) (Address)
10-71377-1
I
Page 2 NORMAL TAX AND SURTAX COMPUTATIONS
1. Mutual insurance company taxable income (item 18, page 1) ...............................................................

2. Taxable income before special deductions (item 14, page 1) ................................................................ $------------------------------
3. Less: Dividends received deductions from item 17 (d), page I ...........................................................
4. Surtax net income ...................................................................................................... $---- ---------------------- _
Except interinsurers and reciprocal underwriters Interinourtirs and reciprocal underwriters
Norrnal Tax
60 percent of excess of line 1 over $3,000 when 8. 60 percent of excess of line I over $50,000 when line
line I is over $3,000 and not over $6,000 .... $----------------------------- I is over $50,000 and not over $100,000 ......... $------------------------------
30 percent of line 1 when over $6,000 ......... $ ----------------------------- 9. 30 percent of line I when over $100,000 ............ $------------------ --- - -- --
Surtax
10. 33 percent of excess of line 4 over $50,000 when line
T. 22 percent of excess of line 4 over $25,000. .... $ 4 is over $5Q000 and not over $100,000 ......... $-----------------------------
11. 22 percent of excess of line 4 over $25,000 when
line 4 is over $100,000 ......................... $
12. Total normal tax and surtax under section 821 (a) or (b) (sum of lines 5 through 7 or sum of lines 8 through 11) ................ ;.~ $
COMPUTATION OF TAX ON GROSS AMOUNT OF INCOME
(Section $21 (a) (2)) (Not Applicable to Interinsurers and Reciprocal Underwriters)
13. Total gross income in items 1 to 3, inclusive, page 1 ........................................................................ -----------------------------
14. Net premiums ......................... ............................................................. ...................
15. Total gross amount of income (line 13 plus line 14) ......................................................................... 1$-- ---------------------------
16. Law: Dividends to policyholders ............................................................... ----
17. Interest wholly exempt from tax (item 1 (a), column 4, page 1) ............................... $
18. Gross amount of income (line 15 minus the sum of lines 16 and 17) .......................................................... $
Over $75,000 and Not Over $1,90,000
19. Tax (2 percent of excess of line 18 over $75,000) ................................................................... ....... $
Over $150,000
20. Tax (I percent of line 18) ............................................................................................... $.
21. Tax under section 821 (a) (2) (fine 19 or 20), whichever is applicable ....................................................... $
Tas Under Section 821 (a) (1) or (2), or (b)
22. Line 12 for interinsurers and reciprocal underwriters; line 12 or 21, whichever is greater, for others ............................. $
Lirnitation of Tax Under Section 821 (c)
Gross amounts received from interest, dividends, rents and premiums of over $75,000 and less than $125,000
23. Interest, dividends, and rents (line 13 above) ......... .................................................................... ------------------------------
24. Gross premiums received ................................................................................................
25. Total of lines 23 and 24 ................................................................................................
26. Limitation under section 821 (c) (line 22, above, multiplied by the ratio which the excess of line 25, above, over $75,000 bears to
$50,000) ................ ....... .... ........................................................................... $
Schedule A.-INVESTED ASSETS BOOK VALUES (Be* Instruction 7)
(Schedule A Need Not Be Filled In if No Deduction Is Claimed for Any General Expenses That Are Allocated to Investment Income)
1. Beginning of taxable year 2. End of taxable year
1. Real estate ..................................................................................... S $

2. Mortgage loans ................................................................................. ............................... ...............................
3. Collateral loans --------------- ----------------------------------------------------------------- ------------------------------- ------------------------------
4. Policy loans, including premium notes ............................................................. ----------------------------- -------------------------------
5. Bonds of domestic
6. Stocks of domestic corporations .............
7. Government obligations, etc. (Attach Schedule)
8. Bank deposits bearing
9. Other interest-bearing assets (Attach Schedule) ....................................................
10. Totals of lines 1 to 9 ....................................................................... $ $
11. Total of columns 1 and 2, line 10 . ~ ... .................................................................................. $---------------------------- -
12. Mean of the invested assets for the taxable year (one-half of line 11) ......................................................... ---- -------------------------
13. One-fourth of I percent of the mean of the invested assets ................................................................... $
14. Income base (item 5, page 1, minus items 8 to 12, inclusive, page 1) ......................................................... $ ---------------- ----- - --
18. 3% percent of line 12 ...................................................................................................
16. Excess (if any) of line 14 over line IS ..................................................................................... $
17. One-fourth of line 16 ................................................................................................... $
18. Limit on deduction for investment expenses (line 13 plus line 17) .......... .................................................. $
Schedule B.-OTHER CAPITAL LOSSES (See Instruction 12)

Capital Assets Sold or Exchanged To Meet Abnormal Insurance Losses and To Provide for the Payment of Dividends and Similar Distribution to Policyholders
1. Dividends and similar distributions paid to policyholders ................................................................ ... $------------------------------

2. Losses paid ............................................................................................................
* ...............................
3. Expenses paid ...... _ .................................................................................................
4. Total of lines I to 3, inclusive ............................................................................................ $
9. Lem: Interest received (item 1, column 4, page 1, adjusted to cash method if on accrual method) ......... $ -------------------------
S. Dividends received (item 2, page 1, adjusted to cash method if on accrual method). . . . ................
T. Rents received (item 3, page 1, adjusted to cash method if on accrual method) --------------------- -------------------------------
S. Net premiums received (line 14, page 2, adjusted to cash method if on accrual method) ............
9. Excess (if any) of line 4 over sum of lines 5, 6, 7, and 8 .............................................. .. :_:_~ . . .............
a- C"'
an at
" 6. Depledfio.
h be ix Wl** or 7. LRn
ou,Otch.urne 3 Wfus
. Column 6
1. Dmription of capital nal tract pr,cs')'c' I S --ts
Pg'Uart to ACqUiSi- 5 Expensofule V'M
':bib')
re is.1 1913 furnish ) sum Columns 4
tion or March 1, dMaile, ad 5
1913
$--------------------- $------------------- $ --------------------- $ ----------------------- --- $ -----------------------------
10. Total S
Total gross receipts from sales, line 10, column 3, should not exceed the amount shown in line 9. If necessary, gross receipts from a particular sale should be
apportioned in the above schedule and the excess reported in separate Schedule D (Form 11 20).
Sales (except the apportionment mentioned above) reported in this schedule should not be reported in separate Schedule D (Form 1120).
Enter total other capital losses (line 10, column 7) as item 12, page 1. 16-713,T-1
A. Companies Required To File a Retum.-Every mutual insurance G. Failure To File, Eta.-Substantial additions to the tax are imposed for
company other than a life or marine insurance company and other than a fire failing to file a return, for late filing, and for filing a false or froudulent return.
insurance company subject to the tax imposed by section 831 (except a foreign H. Information at Source.-Every insurance company making payments
mutual insurance company other than a life or marine insurance company or a in the course of its trade or business of (1) interest, rents, commissions, or other
fire insurance company subject to the tax imposed by section 831-not carrying fixed or determinable income of $600 or more during the calendar year 1954
on an insurance business within the United States) with gross amount received to an individual, a partnership, or a fiduciary, or (2) salaries or wages of $600
from interest, dividends, rents, and premiums (including deposits and assess- or more shall make returns on Forms 1096 and 1099, except that the making
ments), in excess of $75,000 shall file a return on this form. (SeesectionS01 (15).) of such return will not be required with respect to salary or wage payments
If a receiver, trustee in dissolution, trustee in bankruptcy, or assignee has included on Form W-2, provided copieo of withholding statements on Form W-2
possession of or holds title to all or substantially 911 the property or business of are furnished. If a portion of such salary or wage payments was reported on a
a corporation, whether or not the property or business is being operated, he Withholding Statement (Form W-2), only the remainder must be reported on
must make a return of income for the corporation in the same manner and form Form 1099.
required of other corporations. (Section 6012.) The returns on Forms 1096 and 1099 shall also include dividend payments
B. Period Covered.-The return shall be for the calendar year ended totaling $10 or more during the calendar year 1954 to each shareholder who
is an individual (citizen or resident of the United States), a resident fiduciary, or
December 31, 1954, and the taxable income computed on the calendar year
basis in accordance with the State laws regulating insurance companies. a resident partnership any member of which is a citizen or resident.
1. Information by Corporations-1. Contemplated Dissolution or Liqui-
C. A-c3unting Methods.-A return on this form shall be filed using the aution-Every corporation shall, within 30 days after the adoption by the
cash or accrual method of accounting, except that whichever method is adopted corporation of a resolution or plan for the dissolution of the corporation or
in filing the company's first return must be followed until the consent of the
for the liquidation of the whole or any part of its capital stock, render a correct
Commissioner is received to change the method.
return on Form 966, setting forth the terms of such resolution or plan. (See
D. Time and Place for Filing.-The return must be sent to the District section 6043.)
Director of Internal Revenue for the district in which the company's principal 2. Distributions in Liquidation-Every corporation making distributions
place of business or principal office or agency is located, on or before March in liquidation of the whole or any part of its capital stock shall also make returns
15, 1955. on Forms 1096 and 10991, as required by instructions on Form 1096, for the
calendar year 1954.
E. Signature and Verification.-The return must be signed either by the
president, vice president, treasurer, assistant treasurer or chief accounting J. Stock Ownership in Foreign Corporations.-In addition to the schedule
officer, cr by any other corporate officer authorized to sign. A receiver, trustee, required by Specific Instruction 2, a corporation owning any stock of a foreign
for assignee must sign any return which he is required to file on behalf of a corporation must attach a statement showing the name and address of each
corporation. The statement at the bottom of page I of the return is required to be company and the total number of shares of each class of outstanding stock
signed by any person, firm, or corporation who prepared the taxpayer's return. owned during the taxable year. If the corporation owned 5 percent or more in
If the return is prepared by a firm or corporation, it should be signed in the name value of the outstanding stock of a foreign personal holding company, attach
of the firm or corporation. The statement is not required if the return is prepared a statement setting forth in complete detail the information required by section
by a regular, full-time employee. 551 (d).
F., Payment of Tax.-The tax must be paid in full when the return is filed K. Annual Staternent.-A copy of the annual statement for mutual insurance
or in two installments, 50 percent on or before the 15th day of the third month companies adopted by the National Convention of Insurance Commissioners for
and 50 percent on or before the 15th day of the sixth month following the close the year 1954, as filed with the Insurance Department of the State, Territory, or
of the taxable year. District of Columbia, together with copies of Schedule A (real estate) and Sched.
ule D (bonds and stocks), must accompany the return. Similar copies for the
If any installment is not paid on or before the date fixed for its payment the
preceding year must also be furnished, if not filed for such year.
whole amount of the tax unpaid shall be paid upon notice and demand by, the
District Director. The tax may be paid in cash or by check or money order L. List of Attached Scheaules.-Attach a list of the schedules accompanying
drawn to the order of "District Director, 1. R. S." Cash payment should be made the return, giving for each a brief title and the schedule number. Place name
only in person at the District Director's office. and address of company on each schedule.
SPECIrIC INSTRUCTIONS
The Following Instructions cee Numbered to Correspond With Item Numbers on Page I of the Return Unless Otherwise indicated
1. Interest-Enter interest received or accrued from all sources during the similar distributions to policyholders, whichever is the lesser. However, the
taxable year. The grow amount of interest reported as gross income shall be amount of a net capital loss sustained in any taxable year may be carried over
decreased by the amortization of premiums and increased by the accrual of to each of the five succeeding taxable years and treated in each such succeeding
discount attributable to the taxable year on bonds, notes, debentures or other taxable year as a short-term capital loss to the extent not allowed as a deduction
evidences of indebtedness, determined (1) in accordance with the method against any net capital gains of any taxable year intervening between the
regularly employed, if reasonable, or (2) in accordance with regulations pre- taxable year in which the net capital loss was sustained and the taxable year
scribed by the Secretary or his delegate. (Attach statement showing method to which carried.
and computation.) For further information relating to gains and losses from sales or exchanges
2. Dividends.-Enter as item 2 (a) the amount received or accrued as of property, see instructions on back of separate Schedule D (Form 1 120).
dividends from a domestic corporation which is subject to taxation under Subtitle 6. Interest Wholly Exempt From Tax-Enter the amount of interest which
A, except dividends on certain preferred stock of a public utility corporation, is wholly exempt from taxation under the provisions of section 103.
and dividends received from a corporation entitled to the benefits of section 1 7. Investment Expenses.-Enter
931 and from a corporation organized under the China Trade Act, 1922. Enter expenses paid or accrued which are
properly chargeable to investment expenses, the total amount of which, if there
as item 2 (b) dividends received on certain preferred stock of a public utility
be any allocation of general expenses to investment expenses, should not exceed
which is subject to tax under Subtitle A. Enter as item 2 (c) dividends from for-
one-fourth of I percent of the mean of the invested assets reported on line 12,
eign corporations. Enter as item 2 (d) dividends from all other corporations
Schedule A, plus, in cases where the taxable income computed without any deduc-
including dividends on share accounts in Federal savings and loan associations
issued on or after March 28, 1942. Enter in item 1 (c) dividends on share ac. tion for (1) investment expenses and (2) tax-free interest exceeds 3% percent of
the book value of such mean of the invested assets, one-fourth of such excess.
counts in Federal savings and loan associations issued prior to March 28, 1942.
Submit a schedule showing the nature and amount of the items included herein,
Submit schedule, itemizing all dividends received during the year, stating the
the minor items being grouped in one amount. (See section 822 (c) (2).)
names and addresses of the corporations declaring the dividends and amounts
received from each. 8. Taxes.-Enter taxes paid or accrued exclusively upon real estate owned
by the company and taxes assessed against individual shareholders and paid
3. Rents.-Enter rents received or accrued from tenants.
by the company without reimbursement as provided in section 822 (c) (3). Donot
4. Gains and Losses From Sales or Exchanges of Capital Assets- include taxes assessed against local benefits of a kind tending to increase the
Report sales or exchanges of capital assets in separate Schedule D (Form 1120) value of the property assessed, as for paving, sewers, etc. For limitation on
(but we Schedule B, page 2). Every sale or exchange of a capital asset even deduction, see Instruction 13 (b) below.
though no gain or loss may be indicated, must be reported in detail.
9. Real Estate Expenses.-Enter all ordinary and necessary building ex-
Losses from sales or exchanges of capital assets (except losses from capital penses, pdid or accrued, such as fire insurance, heat, light, labor, etc., and the
assets sold or exchanged in order to obtain funds to meet abnormal insurance cost of incidental repairs which neither materially add to the value of the property
losses and to provide for the payment of dividends and similar distributions to nor appreciably prolong its life, but keep it in an ordinarily efficient operating
policyholders) shall be allowed to the extent of gains from such sales or exchanges,
condition. Do not include any amount paid out for new buildings or for perma-
with respect to companies taxable under section 821 (a) or (b). The net capital
nent improvements or betterments made to increase the value of any property or
loss for such companies shall be the amount by which losses for such year from any amount expended on foreclosed property before such property is held forth
sales or exchanges of capital assets exceed the sum of the gains from such sales or for rental purposes. For limitation an deduction, see Instruction 13 (b) below.
exchanges and (1) the corporation surtax net income (computed without regard
to gains or losses from sales or exchanges of capital assets) or (2) losses from the 10. Depreciation.-Tho amount deductible on account of depreciation is an
sale or exchange of capital assets sold or exchanged to obtain funds to meet amount reasonably measuring a portion of the investment in depreciable
abnormal insurance losses and to provide for the payment of dividends and property which, by reason of exhaustion, wear and tear, or obsolescence, is
1~71377-1
properly chargeable against the operations of the year. In any event the 12. Other Capital Loases.-Enter as Item 12 losses from capital assets sold
deduction is limited to the depreciation on the property that is used, and to the or exchanged to provide funds to meet abnormal insurance losses and to provide
extent used, for the purpose of producing the income specified in section 803 (a). for the payment of dividends and similar distributions to policyholders. Capital
The amount of depreciation should be determined upon the basis of the original assets shall be considered as sold or exchanged to provide for such funds or
cost (not replacement cost) of the property, and the probable number of years payments to the extent that the gross receipts from their sale or exchange are
remaining of its expected useful life. not greater than the excess, if any, for the taxable year of the sum of dividends
and similar distributions paid to policyholders and losses and expenses paid,
(a) Straight Ldn* Method.-The most common method of computing depreci. over the sum of interest, dividends, rents, and net premiums received. (See
ation Is the "straight line" method. It allows for the recovery of cost in equal Schedule B.)
annual amounts over the life of the property, with only salvage value remaining
at the end of its useful life. To oorripute the deduction, add the cost of improve- 13. Total Deductiorks.-(Q) Enter the total of item 6 to 12, inclusive.
ments to the cost (or other) basis of the asset and deduct both the estimated (b) Itimitation on deductions mlating to real estate ~ed and occu-
salvage value and the total depreciation allowed or allowable in past years. pied.-The deduction included in items 8 to 10 on account of real estate owned
Divide the result by the number of years of useful life remaining to the asset; the and occupied in whole or in part by the company shall be limited to an amount
quotient in the depreciation deduction. which bears the same ratio to such deduction (computed without regard to
section 822 (d) M) as the rental value of the space not so occupied bears to
(b) Declining Balance Mothod-Under this method a uniform rate is the rental value of the entire property. (Submit detailed schedule.)
applied each year to the remaining cost or other basis of property (without
adjustment for salvage value) determined at the beginning of such year. For W Items not deductible.-No deduction is allowable for the amount of
property acquired before January 1, 1954, or used property whenever acquired, any item or part thereof allocable to a claw of exempt income, other than wholly
the rate of depreciation under this method may not exceed one and one-half tax-exempt interest income. However, for interest on indebtedness incurred or
times the applicable straight line rate. continued to purchase or carry tax-exempt securities, see instruction 11. Items
directly attributable to wholly exempt income shall be allocated thereto, and
(c) Special Rules for Now Assets Acquired After Decembw 31, 19S3.-The items directly attributable to any class of taxable income shall be allocated to
cost or other basis of an asset acquired after December 31, 1953, may be such taxable income. If an item is indirectly attributable both to taxable income
depreciated under methods proper in the past, or, it may be depreciated under and exempt income, a reasonable proportion thereof, determined in the light of
any of the following methods provided (1) that the asset is tangible, (2) that it all the facts and circumstances in each case, shall be allocated to each. A tax-
has an estimated useful life of 3 years or more, and (3) that the original use payer receiving any exempt income, other than interest, or holding any property
of the asset commenced with the taxpayer and commenced after December 31, or engaging in any activity the income from which is exempt, shall submit with
1953. If an asset is constructed, reconstructed, or erected by the taxpayer, so its return as a part thereof an itemized statement, in detail, showing (1) the
much of the basis of the asset as is attributable to construction, reconstruction amount of each class of exempt income, and (2) the amount of expense item
or erection after December 31, 1953, may be depreciated under methods proper allocated to each such class (the amount allocated by apportionment being
in the past; or, it may be depreciated under any of the following methods provided shown separately).
the asset meets qualifications (1) and (2) above.
13. Interest Partially Exempt From Tax.-Enter as item 15 the amount of
(1) Declining Balance Method.-This method may be used with a rate not interest included in gross income which is partially exempt from taxation and for
in excess of twice the applicable straight line rate. which a special deduction is allowed under the provisions of section 242.
(2) Sum of the Years-Digits Method.-Under this method annual allow- 17. Dividends Received Deductions.-The deductions provided in line 15
anoss for depreciation am computed by applying changing fractions to the are as follows: (a) 85 percent of the amount received as dividends (except
taxpayer's cost or other basis of property (reduced by estimated salvage value). dividends on certain preferred stock of public utilities) from a domestic corpora-
tion subject to income tax. Amounts received as dividends from mutual savings
A deduction for each year is computed by multiplying the cost or other basis banks cooperative banks, and domestic building and loan associations and
of the asset (reduced by estimated salvage value) by the number of years of allow~d as a deduction to such banks or building and loan associations shall
useful life remaining (including the year for which the deduction is computed) not be treated as dividends. In the case of dividends received from a regulated
and dividing the product by the sum of all the digits corresponding to the years investment company, see section 854 regarding limitations on amount deductible;
of the estimated useful life of the asset. In the cam of a five-year life this sum (b) 62.115 percent of the amount received as dividends on the preferred stock
would be 15 (5 plus 4 plus 3 plus 2 plus I). For the first year 5-15th of the of a public utility which is subject to income tax and is allowed a deduction, as
cost reduced by estimated salvage value would be allowable, for the second provided in section 247, for dividends paid; and (c) 85 percent of dividends
year 4-15th, etc. received from certain foreign corporations. See section 245 for qualifications
and limitations on the amount of this deduction.
(3) Other Methods.-A taxpayer may use any consistent method which does
Dividends received from a corporation described in section 246 (a) (China
not result in accumulated allowances at the end of any year greater than the
Trade Act Corporation, etc.) should be entered in Item 2 (d).
total of the accumulated allowances which would have resulted from the use of
the declining balance method. This limitation applies only during the first Pago 1-22. Credit for Income Taxes Paid to a Foreign Country or United
two-thirds of the useful life of the property. States Poemession.-If, in accordance with motion 901, a credit is claimed by
a domestic corporation in item 22, on account of income, war-profits, and excess-
If a deduction is claimed on account of depreciation, a schedule should be profits taxes paid or accrued to a foreign country or a possession of the United
filed with the return showing: (1) description of the property, (2) date of aoquist. States, Form 1118 should be submitted with the return, together with the receipt
tion of the property; (3) the cost or other basis of the asset (4) the amount of for each such tax payment. In case credit is sought for taxes accrued but not
depreciation allowed and allowable in prior years, (5) the method under which paid, the form must have attached to it a certified copy of the return on which
the depreciation allowance is being claimed; (6) rate of depreciation, and each such accrued tax was based, and the District Director may require a bond
expected useful life; and (7) depreciation allowance this year. In case obsoles- on Form 1119 as a condition precedent to the allowance of a credit for such
oence is included, state separately amount claimed and basis upon which it accrued taxes. A foreign company is not entitled to claim this credit.
is computed. C~t or value of land is not subject to depreciation, and when
land and building were purchased for a Jump gum the cost of the buildings Page 2-14. Not Rremiums.-Enter as line 14 the amount of gross premiums
subject to depreciation must be established. (including deposits and assessments) written or received on insurance contracts
during the taxable year, less return premiums and premiums paid or incurred
The adjusted property accounts and the accumulated depreciation shown in for reinsurance. Amounts returned where the amount is not fixed in the insur-
the schedule should, be reconciled with those accounts as reflected on the books once contract but depends upon the experience of the company or the discretion
of the taxpayer. For limitation on deduction, see Instruction 10 (b) below. of the management are not to be included in return premiums but are to be
11. Interest.-Enter the amount of interest paid or accrued during the taxable treated as dividends to policyholders and included in line 16. (See section
year on the company's indebtedness, except on indebtedness incurred or con- 823 (1).)
tinued to purchase or carry obligations (other than obligations of the United Page 2-16. Dividends to Policyholders.-Enter as line 16 dividends and
States issued after September 24, 1917, and originally subscribed for by the similar distributions paid or declared (depending upon the method of accounting
taxpayer) the interest upon which is wholly exempt from taxation. regularly employed) to policyholders. (See section 823 (2).)
16--71377-1
U. S. Treasury Department-Internal Revenue Service
FORM 1118 STATEMENT IN SUPPORT OF CREDIT CLAIMED BY DOMESTIC CORPORATION FOR TAXES PAID
REV. NOV. 1954
OR ACCRUED TO A FOREIGN COUNTRY OR A POSSESSION OF THE UNITED STATES
For Calendar Year 19 ---------
Or other taxable year beginning ---------------------------------------- 19 ------- and ending ---------------------------------------- 19------
Name of Corporation ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Address -------------------------------
i~ir_e_et- -a'n__d_'nu--m- -b'er)--------------------------------- ----------------------~&Wo_r_t_o_~
___,_-p-o--st-a- -1 -w
__n__9_ -n-u--m- b-'er")----------------------- -------------('S_t-a_t_e')--------------
Claim for credit is made for taxes ---------------------------------1, as follows:

(Paid or accrued)
SCHEDULE A.-Credit Claimed Against Income Taz
Taxes Paid or Accrued During the Taxable Year to a. Foreign Country or a Possession of the United StateS2
Name of foreign country or possession of United States imposing tax --------------------------------------------------------- Character of tax ------------------------------------------
(Income, war profits, or excess profits)
Statutes imposing tax -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(To be named fully and clearly so as to be easily identified)
In foreign currency 3 Con~ersion rate 4 1. dollars
1. Tax withheld at source on dividends (attach receipt or return) ................. ------------------------------- ------------------------------- $ -------------------_------
2. Tax paid or accrued (exclusive of tax withheld at source on dividends) (attach

receipt or return)6 ........................................................ ------------------------------ ------------------------------- -------------------------------
3. Tax deemed to have been paid or accrued by a related corporation (Item 10,
Schedule B) ............................................................. ------------------------------- -------------------------------
4. Total taxes (sum of Items 1, 2, and 3) ....................................... X X X X X X X X X X X X X X X X $
LIMITATION
5. Dividends received from sources in this foreign country or U. S. possession (exclud-

ing dividends from a foreign corporation doing 50 percent or more of its business
in the United States to the extent of the deduction under sections 245 and 246) 6 7. ------------------------------- -------------------------------- $----------------------------
6. Other taxable income (or loss) from sources in this foreign country or U. S. pos-
session (exclusive of dividends received) 8 ................................... ------------------------------- -------------------------------
7. Total taxable income in Items 5 and 6 ...................................... X X X X X X X X X X X X X X X X $
S. Taxable income from all sources (Item 33, Page 1, Form 1120) ................................................................ $
9. Total United States'income tax (Item 34, page 1, Form 1120) .................................................................. $
10. Ratio of taxable income from sources in this foreign country or U. S. possession to taxable income from all sources (Item 7 divided
by Item 8) ............................................................................................................... ---------------------------
11. Amount of tax which may be claimed as credit under limitation of Section 904 (Item 9, multiplied by Item 10, but not in excess of Item Q.. $ -
SUMMARY OF TAXES ALLOWABLE AS A CREDIT (FROM SCHEDULE A, ABOVE, AND FROM ANY ADDITIONAL FORMS 1118)2
(Fill in summary on only one Form 1118)
Amount of tax
claimed as credit
(Schedule A, Item 11 of
Name of foreign country or U. S. possession each Form 1118)
----------------------- ---------------------------
---------------------------
---------------------------
---------------------------
---------------------------
12. Total amount of taxes which may be claimed as a credit. Enter as Item 35, page 1, Form 1120 ................................... $
(See Notes on Page 3) 16--49WS-6
1 448404 0 - 57 - 15
Page 2
SCHEDULE B.-Taxes Paid or Accrued to a Foreign Country or a Possession of the United States by (1) a Related Foreign Corporation or (2) a Related
Domestic Corporation Entitled to the Benefits of Section 931 or 941 9 10 11
(Where Section 902(b) applies, make computation thereunder first. Attach another Schedule B appropriately completed)
Name ----------------------------------------------------------------------------------- Incorporated under the laws of --------------------------------------------------------
Foreign I Address ----------------------- -- ------------------------------------------------------------------------------------------------------------------------------------------------------------

corporation, (Street and number) (City or town) (Country)
or domestic
Preferred Common Tot.1
corporation
entitled to
benefits of
Sec. 931 Number of shares outstanding ...................................... --------------------- --------------------- ---------------------
or 941 1 1 1
Capital stock Number of shares owned by domestic corporation ..................... --------------------- --------------------- ---------------------
Which stock has full voting rights? ---------------------
Name of foreign country or possession of United States imposing tax --------------------------------------------------------- Character of tax ----------- --------- ------------------
(Income, war profits, or excess profits)
Statutes imposing tax -------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------

(To be named fully and clearly - as to be easily identified)
1. Amount received during the taxable year as dividends from -uch related foreign corporation' less the amount of the deduction allowable under Sections
245 and 2467-------------------------------------------------------------- ------------------------------------------------------------------------------ which (converted at an exchange rate

(In foreign money)
of ------------------------------ 4) equals in dollars ............................................................................... $----------------------------

(Submit computation or reference to item and line numbers on corporation income tax return)
Date and amount of each dividend payment -------------------------- - ------------ ---------------------------------------------------------------------------------------------------------
Taxable periods of related foreign corporation from income of which dividends

were paid 13
13 Year -------------- Year-------------- Year--------------
2. Dividends segregated according to years when profits from which they were paid were
accumulated" ................................................................... $-------------------------- $ --------------------- --- $-------------------------
3. Total profits of related foreign corporation before tax was deducted therefrom 6 11 16 ........ $ ------------------------- $ - ------------------- $ ------------------- -----
4. Accumulated profits (total profits less tax thereon) out of which dividends were paid ........ --------------------------- a --------------------------- 3 -------------------------- a
which, converted at an exchange rate of ............................................ -------------------------- 16 ------------------ ------- 16 -- ------------------------ 15
equals in dollars .................................................................. $ ------------------------- $ --------------- ------- - $ ------------ ------------
5. Amount of taxes paid by the related foreign corporation or deemed to have been paid by
it 11 under Section 902 (based upon attached tax receipts'8) or taxes accrued, in foreign
money upon Item 3 ................................................................ --------------------------- 3 -------------------- ------a ----------------------- a
which, converted at an exchange rate of ............................................ -------------- ----------- 16 I ------------- ----------- 16 ---------- I ------------- --
equals in dollars .................................................................. $ ------------------------- $ ------------------------- $ -------------------------
S. Ratio of accumulated profits to total profits (Item 4 divided by Item 3) ................... ---------------------------- --------------------------- ----------------------------
7. Tax paid on or with respect to accumulated profits (Item 5 multiplied by Item 6) ............ $ ------------------------- $ -------- ---------------- $ -------------------------
8. Ratio of amount of dividends received to accumulated profits (Item 2 divided by Item 4) .... ---------------------------- ---------------------------- ----------------------------
9. Amount of tax payments deemed to have been paid on profits distributed as dividends
(Item 7 multiplied by Item 8) ....................................................... $ -------------------------- $---------------------- ~ $ ------------------------
10. Total of tax payments deemed to have been paid on profits distributed as dividends (total of Item 9). Enter as Item 3, Schedule A ..... T ------------------------
(See Notes on Page 3)
SIGNATURE AND VERIFICATION
1, the undersigned, president, vice president, treasurer, assistant treasurer, chief accounting officer (or other duly authorized officer) of the corporation for which
this statement is made, declare under the penalties of perjury that this statement has been examined by me and is, to the best of my knowledge and belief,a true
and complete statement of facts relating to the credit for tax as provided in sections 901 to 905, inclusive, of the Internal Revenue Code of 1954.
Date ------------------------------------------------- 19------

(Signature of officer) (Title)
16--053"
NOTES Page 3
I If the corporation elects under Section 905 to claim credit for taxes accrued, 11 For purposes of this form, a foreign corporation is considered a "related
write "accrued" in the space provided. (See Section 905 and Instructions on foreign corporation" if the domestic corporation owns at least 10 percent of
page 4.) the voting stock of a foreign corporation from which it receives dividends.
1 Where there is more than one foreign country or possession of the United Effective for dividends received in taxable years beginning after Dec. 31, 1950.
States to which taxes are paid by the domestic corporation, or more than one 11 Each column relates to that part of total dividends paid from accumulated
related foreign corporation, or more than one foreign country or possession of profits shown therein.
the United States to which taxes are paid on behalf of a related foreign corpo- 13 Where payments were of taxes accrued for only I year, give dates of
ration, additional schedules should be attached, and the amount of the credit beginning and ending of such year in first column. Where the payments were
shown on each such schedule should be included in the summary. of taxes accrued for more than 1 year, give in separate columns the dates of
3 State this amount in the currency of the foreign country or possession of the each annual period during which any part of the tax payments accrued.
United States (e. g., pounds, francs, marks). 11 If dividends received during the taxable year from a related foreign corpo-
4 Give rate of exchange used and attach a statement describing in reason- ration must be considered under the statute to be paid out of the income of such
able detail why and how this particular rate was deteri-nined. corporation for a period of more than 3 years, a separate schedule containing
5 Include total tax paid or accrued whether or not the income upon which the information required in Items 2 to 9, inclusive, of Schedule B, shall be
the tax was based was subject to United States Federal income tax. submitted covering all years involved. The total of the amounts entered in
I Include any dividends received from a foreign subsidiary of the related Item 2 must agree with the amount shown in Item 1 of Schedule B.
foreign corporation. 11 The amount to be shown as total profits under Item 3 of Schedule B should
7 For the purpose of Sections 901-905 dividends received from a foreign be the profits from all sources whatsoever (whether or not subjected to foreign
corporation shall be treated as income from sources without the United States tax), from which, after deduction of the foreign tax shown in Item 5, the divi-
only to the extent such dividends exceed the amount of the deduction allow- dends may be deemed to have been paid by the foreign corporation.
able under Sections 245 and 246 in respect of such dividends. (See Section 11 Conversion to be made at same exchange rate as that used for dividends
861 (a) (2) (B).) in Item I of Schedule B.
8 Include all income taxable (or losses allowable) by the United States whether 17 The portion of the taxes paid by the foreign subsidiary of the related
or not taxable (or allowable) by the foreign country or United States possession. foreign corporation, which is deemed to have been paid by the related foreign
I The term "foreign corporation" as used in Schedule B includes a domestic
corporation, will be computed by the same method employed in computing the
corporation entitled to the benefits of Section 931 or 941. (See Section 901 (c)
below.) portion of the tax paid by the related foreign corporation, which is deemed to
hove been paid by the domestic corporation.
10 If the required ownership of at least 10 percent of the voting stock was
attained or relinquished during the year by the domestic corporation claiming 18 Enter in each column for the annual period named at the top, the amount
credit, state the date when such change took place. of the tax payment which accrued with respect to income of such period.
EXTRACTS FROM SECTIONS goi-gos or THE INTERNAL REVENUE CODE OF 1954

(Foreign Tax Credit)
Sec. 901. Taxes of Foreign Countries and of Possessions of owns at least 10 percent of the voting stock of a foreign corpora-
United States-(a) Allowance of Credit.-If the taxpayer tion from which it receives dividends in any taxable year shall
chooses to have the benefits of this subpart, the tax imposed by he deemed to have paid the same proportion of any income, war
this chapter shall, subject to the limitation of section 904, be profits, or excess profits taxes paid or deemed to be paid by such
credited with the amounts provided in the applicable paragraph ioreign corporation to any foreign country or to any possession
of subsection (b) plus, in the case of a corporation, the taxes of the United States, on or with respect to the accumulated profits
deemed to have been paid under section 902. Such choice may of such foreign corporation from which such dividends were
be made or changed at any time prior to the expiration of paid, which the amount of such dividends bears to the amount
the period prescribed for making a claim for credit or refund of such accumulated profits.
of the tax against which the credit is allowable. The credit (b) Foreign Subsidiary of Foreign Corporation.-If such
shall not be allowed against the tax imposed by section 531 foreign corporation owns 50 percent or more of the voting stock
(relating to the tax on accumulated earnings), against the ofi another foreign corporation from which it receives dividends
additional tax imposed for the taxable year under section 133 in any taxable year, it shall be deemed to have paid the same
(relating to war loss recoveries), or against the personal holding proportion of any income, war profits, or excess profits taxes
company tax imposed by section 541. paid by such other foreign corporation to any foreign country
(b) Amount Allowed.-Subject to the limitation of section 904, or to any possession of the United States, on or with respect to
the following amounts shall be allowed as the credit under the accumulated profits of the corporation from which such
subsection (a): dividends were paid, which the amount of such dividends bears
(1) Citizens and domestic corporations.-In the case of a to the amount of such accumulated profits.
citizen of the United States and of a domestic corporation, the (c) Applicable Rules.-
amount of any income, war profits, and excess profits taxes (1) The term "accumulated profits", when used in this
paid or accrued during the taxable year to any foreign section in reference to a foreign corporation, means the
country or to any possession of the United States; and amount of its gains, profits, or income in excess of the income,
war profits, and excess profits taxes imposed on or with respect
(c) Corporations Treated as Foreign.-For purposes of this to such profits or income; and the Secretary or his delegate
subpart, the following corporations shall be treated as foreign shall have full power to determine from the accumulated
corporations: profits of what year or years such dividends were paid, treat-
(1) a corporation entitled to the benefits of section 931, by ing dividends paid in the first 60 days of any year as having
reason of receiving a large percentage of its gross income from been paid from the accumulated profits of the preceding year
sources within a possession of the United States; and or years (unless to his satisfaction shown otherwise), and in
(2) a corporation organized under the China Trade Act, other respects treating dividends as having been paid from
1922 (15 U. S. C., chapter 4), and entitled to the deduction the most recently accumulated gains, profits, or earnings.
provided in section 941. (2) In the case of a foreign corporation, the income, war
profits, and excess profits taxes of which are determined on
Sec. 902. Credit for Corporate Stockholder in Foreign the basis of an accounting period of less than 1 year, the word
Corporation-(a) Treatment of Taxes Paid by Foreign Corpora- year" cis used in this subsection shall be construed to mean
tion.-For purposes of this subpart, a domestic corporation which such accounting period.
is.-49538-6
Pq FACSIMILES OF TAX RETURNS FOR 1954
Page 4
(d) Special Rules for Certain Wholly-Owned Foreign Corpora- in subsection (c). If the taxpayer elects to take such credits
tions.-For purposes of this subtitle, if- in the year in which the taxes of the foreign country or the
(1) a domestic corporation owns, directly or indirectly, 100 possession of the United States accrued, the credits for all sub-
percent of all classes of outstanding stock of a foreign corpora- sequent years shall be taken on the same basis, and no portion
tion engaged in manufacturing, production, or mining, of any such taxes shall be allowed as a deduction in the same
(2) such domestic corporation receives property in the form or any succeeding year.
of a royalty or compensation from such foreign corporation (b) Proof of Credits.-The credits provided in this subpart
pursuant to any form of contractual arrangement under which shall be allowed only if the taxpayer establishes to the satis-
the domestic corporation agrees to furnish services or property faction of the Secretary or his delegate (1) the total amount of
in consideration for the property so received, and income derived from sources without the United States, deter-
(3) such contractual arrangement provides that the prop- mined as provided in part 1, (2) the amount of income derived
erty so received by such domestic corporation shall be Qc- from each country, the tax paid or accrued to which is claimed
cepted by such domestic corporation in lieu of dividends and as a credit under this subpart, such amount to be determined
that such foreign corporation shall neither declare nor pay under regulations prescribed by the Secretary or his delegate,
any dividends of any kind in any calendar year in which such and (3) all other information necessary for the verification and
property is paid to such domestic corporation by such foreign computation of such credits.
corporation, (c) Adjustments on Payment of Accrued Taxes.-If accrued
then the excess of the fair market value of such property so taxes when paid differ from the amounts claimed as credits by
received by such domestic corporation over the cost to such the taxpayer, or if any tax paid is refunded in whole or in part,
domestic corporation of the property and services so furnished the taxpayer shall notify the Secretary or his delegate, who
by such domestic corporation shall be treated as a distribu- shall redetermine the amount of the tax for the year or years
tion by such foreign corporation to such domestic corporation, affected. The amount of tax due on such redetermination, if
and for purposes of section 301, the amount of such distribu- any, shall be paid by the taxpayer on notice and demand by
tion shall be such excess, in lieu of any amount otherwise the Secretary or his delegate, or the amount of tax overpaid,
determined under section 301 without regard to this subsec- if any, shall be credited or refunded to the taxpayer in accord-
tion; and the basis of such property so received by such ance with suhchapter B of chapter 66 (sec. 6511 and following).
domestic corporation shall be the fair market value of such In the case of such a tax accrued but not paid, the Secretary
property, in lieu of the basis otherwise determined under or his delegate, as a condition precedent to the allowance of
section 301 (d) without regard to this subsection. this credit, may require the taxpayer to give a bond, with sure-
ties satisfactory to and to be approved by the Secretary or his
Sec. 903. Credit for Taxes in Lieu of Income, Etc., Taxes delegate, in such sum as the Secretary or his delegate may
For purposes of this subpart and of section 164 (b), the term
require, conditioned on the payment by the taxpayer of any
1~income, war profits, and excess profits taxes" shall include a
amount of tax found due on any such redetermination; and the
tax paid in lieu of a tax on income, war profits, or excess profits bond herein prescribed shall contain such further conditions as
otherwise generally imposed by any foreign country or by any the Secretary or his delegate may require. In such redeter-
possession of the United States.
mination by the Secretary or his delegate of the amount of tax
Sec. 904. Limitation on Credit-(a) Limitation.-The amount due from the taxpayer for the year or years affected by a refund,
of the credit in respect of the tax paid or accrued to any country the amount of the taxes refunded for which credit has been
shall not exceed the same proportion of the tax against which allowed under this section shall be reduced by the amount of
such credit is taken which the taxpayer's taxable income from any tax described in section 901 imposed by the foreign country
sources within such country (but not in excess of the taxpayer's or possession of the United States with respect to such refund;
entire taxable income) bears to his entire taxable income for but no credit under this subpart, and no deduction under section
the same taxable year. 164 (relating to deduction for taxes) shall be allowed for any
taxable year with respect to such tax imposed on the refund.
Sec. 905. Applicable Rules-(a) Year in Which Credit No interest shall be assessed or collected on any amount of tax
TQken.-The credits provided in this subpart may, at the op- due on any redetermination by the Secretary or his delegate,
tion of the taxpayer and irrespective of the method of accounting resulting from a refund to the taxpayer, for any period before
employed in keeping his books, be token in the year in which the receipt of such refund, except to the extent interest was
the taxes of the foreign country or the possession of the United paid by the foreign country or possession of the United States
States accrued, subject, however, to the conditions prescribed on such refund for such period.
INSTRUCTIONS
When Credit for Taxes May Be Taken.-The credit for taxes that method and the time of payment of the taxes has in such case
provided by section 901 (a) may ordinarily be taken either in nothing to do with the time of credit. A taxpayer whose books of
the return for the year in which the taxes accrued or in which the account are kept on the cash receipts and disbursements method
taxes were paid, dependent upon whether the accounts of the has the privilege of taking the credit for foreign taxes on an
taxpayer are kept and its returns filed upon the accrual method
or upon the cash receipts and disbursements method. Where a accrual method, but if it elects to do so, the credit for foreign
taxpayer keeps its books of account on the accrual method, a taxes with respect to all subsequent years must be taken upon
credit for taxes paid to a foreign country must also be taken on the same method.
U. S. GOVERNMENT PRINTING OFFICE 16-49=-6
INDEX
(For data by industrial divisions, major groups, and minor groups, see "Industrial divisions and groups.")
A Page
Page Bonds, Government. (See Government obligationQ
Accounting methods ............................ 18-19, 87 Bonds and mortgages payable ..................... 54-79
Accounting periods ...................... 18 Bonds, notes, mortgages, payable ............. 23, 44-53,
Annual accounting period by month ended..
*--* 19, 89-94, 110-119, 123-128
98-103, 121
Gross receipts and sales from operations.... 89-94,
98-103
Income and excess profits taxes ........... 19, 95-96 Calendar year accounting period. (See Account-
Inventories ................................. 121 ing periods.)
Major industrial group ................ 89-94, 98-103 Capital assets, gross: (For 1954 tabulated
Net income or deficit .................... 19, 88-103 separately as depletable, depreciable, and
Net income or deficit, size of .............. 19, 95 intangible assets and land, which see.)
Returns with net income ........... 19j 95-96~ 97-103 Except land, 1945-53 ............... 142-143, 153-154
Total assets, size of ....................... 96 Gain or loss from sale or exchange of. (See
Total assets, returns with balance sheets ... 88-94, Capital gain and loss. Also Synopsis of
96-103 Federal tax laws.)
Accounting period-52-53 week year .............. 13 Land, 1945-53 ............................... 153-154
Accounts and notes payable .................... 23, 54-79 Reserves, 1945-53 ........................... 153-154
Accounts and notes receivable.(See Notes and ac- Capital assets less reserves, 1954 ............ 23, 54-79
counts receivable.) Capital gain and loss:
Accounts payable ................ 44-53, 110-119, 123-128 Changes in law affecting 1954 data .......... 13
Accrued expenses ........... 44-531 110-119, 123-128, 142 Definitions ................................. 23-24
Active and inactive corporations ................ 5, 10 Net long-term capital gain reduced by any
Advertising (cost item in deduction) .... 37-53; 104-119, net short-term capital loss ............ 37-53, 82,
123-128 104-119, 123-128
Affiliated corporations. (See Consolidated re- Net short-term capital gain reduced by any
turns.) net long-term capital loss ........ 37-53, 104-119,
123-128
All (active) corporations ......... 5, 9, 10, 15, 32, 37,
43, 122 Capital stock:
Alternative tax .................. 10-117 23, 82, 183-184 Common and preferred, separately .... 44-53, 110-119,
Amortization ........................... 23~ 142) 151-154 123-128
Amortization and depreciation ............ 23, 24, 37-53, Total ..................................... 24, 54-79
104-119, 123-128 Carryback changes not tabulated ................. 15
Amounts contributed under other employee benefit Cash ............................ 44-79, 110-119, 123-128
plans ..................... 24, 37-53, 104-119, 123-128 Cash dividends paid ............................. 18, 85
Amounts contributed under pension plans, etc .... 13) 26) Categories of active corporation returns ....... 5, 15-16
37-53, 104-119, 123-128 Changes in law affecting 1954 data .............. 10-15
Assets and liabilities (returns with balance Characteristics of 1954 tabulations ............. 15-22
sheets): Common stock .................... 44-53, 110-119, 123-128
Classification and summary data .... 51 15-17, 23) 27 Comparison, 1954 and prior years. (See also
Consolidated returns ........................ 123-128 Historical data.) ........................... 9, 10, 14
Industrial divisions or groups ........ 44-51, 54-79, Compensation of officers ........ 37-53, 104-119, 123-128
88-94 110-117, 123, 126 Compiled deductions. (See Compiled receipts and
Inventories, beginning and end of ) year ...... 19, compiled deductions.)
120-121 Compiled net profit less total tax ............ 9, 37-53,
Total .... 16, 44-79, 88-94, 96-103, 110-120, 123-128 104-119, 123-128
Total assets, size of ....... 16, 52-79, 96, 118-119~ Compiled net profit or net loss ............... 9, 37-79,
124-125, 127-128, 130 104-119, 123-128
Audit revisions not tabulated ................... 15 Compiled receipts and compiled deductions:
Authority for publication of "Statistics of Balance sheets, returns with ........ 43-53, 110-119,
Income" ....................................... III 123-128
Consolidated returns ........................ 123-128
Industrial group .............. 37-42, 44-51, 104-116
Returns with net income ..................... 104-119
Bad debts ....................... 37-53, 104-119, 123-128 Textual discussion ......................... 9-10, 24
Reserve 44-53, 110-119, 123-128 Total assets, size of ............... 52-79, 118-119,
Balance sheets, returns with (See also Assets
*-***-****--* 124-125, 127-128
and liabilities.) ................... 44-79, 85, 88-94, Total compiled deductions ........ 9, 37-53, 104-119,
96-103, 110-120, 123-128 123-128
Beginning and end of year inventories ... 19, 27, 120-121 Total compiled receipts ....... 9, 15, 16, 28, 32-79,
Benchmark data, guide to ........................ 4 104-119, 123-128
223
224 INDEX
Page
Consolidated returns: Page
Assets and liabilities ...................... 123-128 Facsimiles of returns ........................... 193-222
Changes in law affecting 1954 data .......... 14, 24 Federal tax laws, synopsis of, 1945-1954 ........ 181-190
Compiled deductions ......................... 123-128 New provisions affecting 1954 returns ....... 10-15
Compiled receipts ........................... 123-128 First returns, filed in 1954 .................... 25, 122
Criterion of affiliation ................. 14, 20, 24 Fiscal year returns. (See Accounting periods.)
Industrial divisions ................... 14) 123) 126 Foreign corporations, dividends received from ... 37-53,
Provisions for filing and tax rates 1945- 83, 104-119, 123-130, 132, 134-135
1954 ...................................... 142 Foreign taxes-Corporations claiming credit for
Number of returns and subsidiaries.. 14, 26~ 123-128 taxes paid to a foreign country or United
Returns with net income ..................... 126-128 States possession ......... 11, 20-21, 129-132, 134-135
Tax rates. .... 186 Forms:
Textual discussion .......................... 20 Facsimiles of corporation returns:
Total assets, size of .............. 124-125, 127-128 Form 1120-Corporation income tax re-
Contributions or gifts ...... 24, 37-53, 104-119j 123-128 turn .................................. 193-210
Cost of goods sold, and cost of operations, Form 1120L-Life insurance company in-
separately ................ 24, 37-53, 104-119, 123-128 come tax return ....................... 211-214
Credits: Form 1120M-Mutual insurance company in-
Against net income: come tax return ....................... 215-218
Reserve interest credit of life insur- Form 1118-Statement in support of
ance companies ..................... 17-18, 188 credit claimed for foreign taxes paid. 219-222
Taxes paid to foreign countries or posses-
sion~of the United States ....... 129-132, 134, 135
D G
Debts, bad ...................... 37-53Y 104-119, 123-128
Gain, net capital. (See Capital gain and loss.)
Reserve ..................... 44-53, 110-119, 123-128
Deductions, compiled. (See Compiled receipts and Gain or loss, net sales of property other than
capital assets ............ 25, 37-53, 104-119, 123-128
compiled deductions.)
Geographic distribution of returns-not pub-
Deduction due to net operating loss of preceding
lished for 1954.
taxable years ............. 25; 37-53, 104-119j 123-128
Gifts, contributions ........ 24, 37-53, 104-119, 123-128
Deficit, size of ............................. 80-84Y 135
Deficit (without net income). (See Net income Governm ent obligations:
Interest on taxable, subject to surtax only,
or deficit.)
and tax-exempt, separately ......... 25, 37-53, 83,
Depletable assets ............... 44-53 110-119, 123-128
104-119, 123-128
Less: Accumulated depletion ........ Y 44-53, 110-119;
123-128 Investments ............. 25, 44-53, 110-119, 123-128
Gross capital assets (eicept land) ...... 142-143 153-154
Depletion ............... 12, 24) 37-53) 104-119, 123-128
Change in rates ............................. Gross receipts from operations ............... 25,) 37-53,
12
Depreciable assets .............. 44-53Y 110-119, 123-128 104-119, 123-128
Gross sales ................. 25) 37-53, 104-120, 123-128
Less: Accumulated amortization .......... 24y 44-53~
110-119, 123-128 Gross sales and gross receipts from operations.. 9,
Less: Accumulated depreciation .......... 24, 44-53, 32-36, 54-79, 88-94, 97-103
110-119, 123-128
Depreciation .................................... 12
Methods ..................................... 12
Depreciation and amortization ....... 24, 37-53, 104-119,
123-128
Description of tables ........................... 16 Historical data, 1909-1943. (See "Statistics of
Dividends paid: Income for 1949, Part 2.11)
By size of net income and deficit ......... 80-81, 84
Historical data, 11945-1954 ...................... 139-170
By size of total assets .... 52-79, 118-119) 124-125,
Assets and liabilities ...................... 153-154
127-128
Comparability ............................... 142-145
Cash and assets other than corporationts own Compiled net profit less total tax .......... 151-154
stock ............. 24, 37-81, 84, 104-119, 123-128
Compiled net profit or net loss ............. 151-154
Corporation's own stock ................. 37-53, 84,
Consolidated returns ........................ 142, 170
104-119, 123-128
Dividends paid, by type ..................... 149-154
Industrial divisions and groups ....... 37-42, 44-51,
Excess profits tax ..................... 143, 149-170
54-81, 104-117, 123, , 126
Income tax .................................. 149-170
Dividends received and paid .............. 11, 18, 24 28
Industrial groups (number of returns, total
Dividends received from domestic and foreign compiled receipts, net income or deficit,
corporations separately ....... 24, 37-53, 83, 104-119,
and taxes) ....................... 143-144, 155-169
123-130, 132, 134-135
Laws, synopsis of Federal tax ............... 181-190
Net income or deficit .................. 144, 149-170
E Net income or deficit, size of .............. 14?-150
Employee benefit plans, amount contributed under Net operating loss deduction ........... 151-154, 170
other ..................... 24p 37-53p 104-119~ 123-128 Number of returns .................. 147-151, 153-170
Excess profits tax: Receipts and deductions ..................... 151-154
Amount of tax ............. 10p 15, 19p 32-53, 80-82) Sampling of returns ......................... 145
95-96, 104-119, 123-128 Source book ................................. 171-180
Number of returns .......... 10, 15, 19, 80-81, 95-96 Total assets ....................... 149-1507 153-154
Termination of tax .......................... 10 25 Total assets, size of ....................... 147-150
Explanation of terms ............................ 23-28
) Total compiled receipts ..................... 149-170
Exploration expenditures ........................ 13 Total tax ................................... 149-170
INDEX 225
I Loss--Continued Page
Page Net operating loss deduction ......... 11, 25, 37-53,
Inactive corporations ...... 10, 25, 26 104-119, 123-128
Income. (See Net income; Compiled
-:-**-- receipts.)
... Returns without net income.... 10, 15-16, 18-19, 25,
Income, other than dividends, from foreign 80-85) 95, 133-136
sources ..................... 25, 129-130; 132, 134-135
Income tax ...................................... 10, 15
Balance sheets, returns with .... 43-53, 96, 110-119,
123-128 Major and minor industrial groups. (See
Calendar, noncalendar and part year account- Industrial divisions and groups.)
ing period .............................. 19, 95-96 Manufacturing and trade corporations ....... 19, 120, 121
Consolidated income tax returns ............. 123-128 Methods of depreciation ......................... 12
Credit f or taxes paid to f oreign countries or Mortgages, bonds, notes, payable ............. 23, 44-53,
possessions of the United States .......... 129-135 110-119, 123-128
Defined ..................................... 25 Mortgages, bonds, payable ....................... 54-79
Industrial divisions and groups ....... 32-42, 44-51, Mutual insurance companies, except lifeor marine
80-81, 104-117, 1235 126 or fire insurance companies issuing perpetual
Net income, size of ....................... 80-82, 95 policies ................................... 17) 18, 36
Rates .... 10
Synopsis of Federal tax laws ........... 183-184~ 186
Total assets, size of ........... 52-79, 96, 118-119,
124-1255 127-128; 130, 134
Type of tax liability ....................... 82 Net capital gain. (See Capital gain or loss.)
Industrial divisions and groups: Net gain or loss, sales other than capital
Assets and liabilities ......... 44-51, 54-79, 88-94, assets .................... 25~ 37-53, 104-119, 123-128
97-1035 110-117, 123 Net income or deficit:
Classification and textual discussion ... 17, 143-144 Accounting periods ................ 19, 88-96, 97-103
Compiled deductions ........... 37-42, 44-51, 104-117 Balance sheets, returns with .... 43-79, 96, 110-119,
Compiled receipts ...... 32-42, 44-515 54-79, 104-117 124-125, 127-128
Divisions only .......... 14, 15, 80-81; 85, 123, 126 Calendar and part year .................... 88, 95-97
Major groups ............ 37-42, 44-51, 54-79, 86-94; Classification and definition .............. 9-10, 25
97-117, 122, 129, 131-133 Consolidated income tax returns ............. 123-128
Minor groups ................................ 32-36 Industrial divisions only ... 10, 15, 80-81, 123, 126
Net income and deficit, size of ............. 80-81 Industrial groups ....... 32-42, 44-51, 54-79, 88-94,
Total assets, size of ....................... 54-79 97-117, 129, 132-133
Industry measurements ........................... 17-18 Size of ................. 16, 18, 80-84, 95, 130, 135
Insurance carriers and agents: Summary for current year .................... 9-10
Life .................................. 17-18, 36, 144 Total assets, size of ....... 16, 54-79, 96, 118-119,
Credit against net income ............... 17-18 124-125, 127-128, 130, 134
Facsimile of return, Form 1120L ......... 211-214 Type of tax liability ....................... 82
Mutual, except life or marine or fire insur- Net long-term capital gain reduced by any net
ance companies issuing perpetual policies. 17-18, short-term capital loss ............. 23-24, 37-53, 82,
36 104-119, 123-128
Facsimile of return, Form 112CM ......... 215-218 Net loss, sales other than capital assets .... 25, 37-53,
Intangible assets ........... 25; 44-53; 110-119, 123-128 104-119, 123-128
Interest paid ................... 37-53, 104-119, 123-128 Net operating loss deduction ............. 11, 25, 37-53,
Interest received; not on Government obligations 37-53, 104-119, 123-128
104-119, 123-128 Net profit or loss, compiled .... 37-79, 104-119, 123-128
Interest received on Government obligations, Net short-term capital gain reduced by any net
taxable, subject to surtax only, and tax- long-term capital loss .................. 23-24, 37-53,
exempt separately ..... 25, 37-53, 83, 104-119, 123-128 104-119, 123-128
Internal Revenue Code of 1954 ................... 10 New businesses and successor businesses ......... 20, 122
Inventories ................. 19, 44-79, 110-119; 123-128 Noncalendar year returns. (See also Accounting
Beginning and end of year inventories ....... 19, 27, periods.) ..................................... 26
120-121 Nontaxable returns ............... 11, 15, 82
Inventory valuation methods ..................... 25, 86 Notes and accounts receivable ... 1~Z5*3*,**1'l*0*-*1'l9, 123-128
Investments: Less reserves ............................... 54-79
Government obligations ................... 25, 44-53, Reserves for bad debts ...... 44-53, 110-119, 123-128
110-119, 123-128 Notes, bonds, mortgages, payable ............. 23, 44-53,
Other than Government obligations ........ 25, 44-53, 110-119, 123-128
110-119, 123-128 Number of returns. (See also specific type of
Total, by major industrial groups ......... 25) 54-79 return or classification.) .................... 10, 26
Land (capital assets) ....... 25, 44-53, 110-119, 123-128 Organizational expenditures ..................... 13
Laws; Federal tax, synopsis, 1945-1954 .......... 181-190 Other "Statistics of Income" publications ....... IV
Length of taxable year .......................... 13
Liabilities. (See Assets and liabilities.)
Life insurance companies ...................... 17-18, 36
Limitations of data, sample and other ........... 22-23 Part year accounting period ............... 26, 88, 95-97
Loss: Partnerships .................................... 14-15
Net loss, sales other than capital assets ... 37-53, Pension plans, amounts contributed under ........ 13, 26,
104-119, 123-128 37-53, 104-119, 123-128
226 INDEX
Personal holding company schedules: Page Page

Additional tax on undistributed income ...... 21-22 Soil and water conservation expenditures ........ 13
Changes in law affecting 1954 data .......... 14 Sole proprietorships ............................ 14, 15
Explanation of terms ........................ 26-27 Source book ..................................... 173-180
Facsimile of return (Schedule PH) ........... 207-210 Description and use ......................... 173
General characteristics ..................... 21-22 Industrial groups available ................. 177-180
Tabulations ............................. 22, 136-137 Items and classifications available ......... 174-176
Preferred stock ................. "-53, 110-119, 123-128 Sources of data ................................. 15
Prepaid expenses and supplies ................ 27, 44-53, States and Territories-not prepared for 1954.
110-119, 123-128 Stock:
Prepaid income .......... 11, 27, 44-53, 110-119, 123-128 Capital, total ............................ 24, 54-79
Prior year loss deduction ................ 11, 25, 37-53, Common and preferred, separately .... 44-53~ 110-119~
104-119, 123-128 123-128
Profit or loss, compiled net ......... 9, 37-79, 104-119, Stock dividends paid ........ 37-532 84, 104-119, 123-128
123-128 Subsidiaries, number of ................. 14, 26, 123-128
Profits, surplus and undivided ............... 28, 44-79, Surplus and undivided profits ....... 28, 44-79, 110-1192
110-119, 123-128 123-128
Surplus reserves ................ 44-53, 110-1192 123-128
Summary of 1954 data ............................ 9-10
Synopsis of Federal tax laws, 1945-1954 ......... 181-190
Rates of tax ........................... 10y 183-184, 186
Receipts:
Compiled. (See Compiled receipts and com-
piled deductions.) Tables for corporation income tax returns,
Gross from operations ... 25, 37-53, 104-119, 123-128 tables 1-37 ................................... 4, 16
Gross sales and gross receipts from opera- Tax. (See Excess profits tax; Income tax; Total
tions ................. 32-36$ 54-79, 88-94, 97-103 tax.)
Partially and wholly tax-exempt. (See Tax base by type of tax ......................... 183-184
Government obligations.) Tax forms. (See Forms.)
Rent paid on business property ............... 13, 37-53, Tax laws, Federal, synopsis, 194511954 .......... 182-190
104-119, 123-128 Tax liability, type of ...................... 822 183-184
Rents, received ......... 13, 27, 37-53, 104-119, 123-128 Tax rates .................................. 183-184, 186
Repairs (deduction) ......... 27, 37-53, 104-119, 123-128 Tax year ........................................ 28
Researqh and experimental expenditures .......... 12 Taxable income .................................. 282 187
Reserves (accumulated amortization, depletion, Taxes paid (other than income and excess profits
and depreciation) ............. 44-53 110-119, 123-128 taxes) ................ 132 28, 37-532 104-119, 123-128
Reserve for bad debts ........... 44-53,0 110-119, 123-128 Taxes paid to foreign countries or possessions
Reserves for estimated expenses .......... 11, 27, 44-53, of the United States ............ 129-1302 1322 1-34-135
110-119, 123-128 Tax-exempt interest. (See Government obliga-
Reserves, surplus ............... 44-53, 110-119, 123-128 tions.)
Returns, number of.- (See also specific type of Terms, explanation of ........................... 23-28
return.) ...................................... 10 Territories-not prepared for 1954.
Returns for calendar, noncalendar,and part year Total assets, size of ........... 16, 52-792 962 118-1192
periods ..... 88-103 124-125, 127-128, 1302 134
Return forms f or 1954 (f a,, es) . ............ 193-222 Total tax ............ 92 28, 37-792 82, 104-119, 123-128
Returns included ................................ 15 Balance sheets, returns with ........ 44-792 110-1192
Returns with annual accounting period ended ..... 89-94, 123-128
98-103 Industrial divisions and groups ....... 37-51, 54-79,
Returns with balance sheets ... 16, 18, 27, 43-53, 54-70, 104-117, 123, 126
110-119, 121, 123-128 Net income and deficit, size of ............. 822 130
Returns with both beginning and end of year in- Total assets,, size of ........... 52-792 962 118-119,
ventory data .............................. 27, 120-121 124-1252 127-1282 130
Returns with net income ........ 10, 15-16, 18-19, 27-28, Trade and manufacturing corporations ........ 19, 120-121
32-36, 80-85, 95-96, 118-119, 127-128 Type of dividend paid ........................... 84
With no income tax liability ................ 11, 82 Type of tax liability ........................... 82
Returns without net income ........ 10, 15-16, 18-19, 27,
80-83, 85, 95, 133-134
Royalties, received ......... 28, 37-53, 104-119, 123-128
S Undivided profits, surplus and ...... 28, 44-79, 110-119,

123-128
Sale of capital assets. (See Capital gain and Unincorporated businesses filing corporation
loss.) returns ....................................... 13
Sales, gross ................ 25, 37-53, 104-120, 123-128
Sales of property other than capital assets, net
gain or loss .............. 25, 37-53, 104-119, 123-128
Sample, description of, and limitations of data. 22-23
Securities with wholly or partially tax-exempt Western Hemisphere trade corporations ....... 21, 131-135
interest. (See Investments, Government Wholly tax-exempt interest. (See Government
obligations.) obligations.)
U. S. GOVERNMENT PRINTING OFFICE : 1957 0 -448404

Guide to
Ta ble Su bi ect
Characteristics of
1954 Corporate Data
For ease of locating major sections of the
6ook, 61ack indicators have 6een placed
in line with the arrows. Fanning the
Explanation pages 6rings the indicators into easy view.
of Terms
Tables for
Tax Year 1954
Historical Data
Synopsis of
Federal Tax Laws
Facsimiles of
Return Forms
UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON : 1957
For sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C. - Price $1.25 (paper cover)

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Statistics of income

CORPORATION INCOME TAX RETURNS

Internal Revenue Servio-,

for tax years

Prepared under the direction of the

Commissioner of Internal Revenue

by the Statistics Division

U. S. TREASURY DEPARTMENT / Internal Revenue Service Publication No. 16

SIR: In accordance with the provisions of section 6108 of the

HON. ROBERT B. ANDERSON,

Individuals Statistics of Income-1954, Preliminary, Individual Income Tax Returns

Statistics of Income-1954, Individual Income Tax Returns

Estates Statistics of Income-1954, Estate Tax Returns

Fiduciaries Statistics of Income-1954, Fiduciary Income Tax Returns

Partnerships Statistics of Income- 1953, Partnership Returns

Farmers' Statistics of Income- 1953, Farmers' Cooperative Income Tax Returns

1. Guide to subjects and categories of returns for 1954 .................... 3

2. Characteristics of data summarized for 1954 ........................... 7

3. Tables from corporation income tax returns, 1954 ....................... 29

4. Historical data, corporation income tax returns, 1945-1954 ............... 139

5. Source Book of Statistics of Income, 1926-1954 ........................ 171

6. Synopsis of Federal Tax Laws, 1945-1954........................... 181

7. Facsimiles of corporation return forms for 1954 ........................ 191

Index ............................................................ 223

Consolidated returns ................. 20

Foreign tax credit clained ................................................................ 20

Western Hemisphere trade corporations ..................................................... 21

Data relating to ACTIVE CORPORA TIONS are tabulated for:

0 722,805 Returns with and without net income

0 281,628 Returns without net income

e 722,805 Returns with and without balance

0 1,510 With net income

2,723 Consolidated returns .~ ...... 0 2,652 With balance sheets

0 278 With credit claimed for foreign taxes

* 273 With undistributed income

2. CHARACTERISTICS OF DATA SUMMARIZED FROM

Cost goods sold and of operations ......................... 399.7 392.7

Compiled net profit .......................................... 36.7 39.8

Compiled net profit less total tax ........................... 19.9 19.9

Table 2, on pages 37-42 of this report, provides

F ANCE, INSURANCE, REAL ESTATE

10 AGRICULTURE, FORESTRY, AND

Returns with net income Returns without net income

39,572,830 391,522 16,823,241 3,724 37,711 281,628 39.0 70,094,964 3,244,395

Returns with net income

Tabl. B.-OORPORATWN RETURNS IM BALANCE SHERMS BY SIZE OF

Industry Measurements Improvements in the corporate income tax return

In addition to the net income size distributions

CORPORATION RETURNS, 1954

Total Income tax Excess profits tax'

(2) (3) (4) (5) (6) (9)

475,450 16,274 199,111 188 332 26,121 243,710

391,522 16,823,241 3,724 37,711 281,628 3,244,395

and-the gross assets reported on returns in which

Chad 4.-MANUFACTURING AND TRADE CORPORATION INVENTORIES AT BEGINNING

Tables12 andl3provide measurements regarding in-

classes of stock, and (2) at least 80 percent of

Table 23 presents data derived from answers to