EXHIBIT No, 15 HUDSON TERMINAL BUILDINGS OPERATING REVENUES, EXPENSES AND TAXES FOR THE YEAR ENDED DECEMBER 31st, 1919, COMPARED WITH PREVIOUS YEAR IHI 1918 Increase Decre.^se Amount Per cent. Amount Per cent. OPERATING REVENUES: $1,729,706.97 59,148.97 $1,692,023.56 54,398.74 $37,683.41 4,750.23 2.22% 8.73% $1,788,855.94 $1,746,422.30 5,352.51 $42,433.64 2.43% $5,352.51 NET TOTAL OPERATING REVENUES ............................... $1,788,855.94 $1,741,069.79 $47,786.15 2.74% OPERATING EXPENSES: $133,010.65 455,055.87 97,565.13 $94,988.45 424,777.52 •99,888.76 $38,022.20 30,278.35 40.03% 7.13% $2,323.63 2.32% General expenses: $685,631.65 36,864.00 $619,654.73 36,864.00 $65,976.92 10.64% TOTAL OPERATING EXPENSES ............................................................ $722,495.65 $656,518.73 $65,976.92 10.05%, NET OPERATING REVENUE ..................................................................... $1,066,360.29 284,621.80 $1,084,551.06 289,371.80 $18,190.77 4,750.00 1.68% 1.64% TAXES........................................................................................--.................... NET INCOME FROM HUDSON TERMINAL BUILDINGS Ratio of operating expenses to net total operating revenues $781,738.49 $795,179.26 $13,440.77 1.69% 43.70% 37.71% "Includes in 1918 $9,484.51 of corporate expenses.