EXHIBIT No. 2

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 1931
 

Balance, Surplus December 31, 1930._______________________________                                       $7,290,456.06

Additions:

Surplus income for the year ended December 31, 1931, as per income

account ..................................................................................................                                         1,639,485.43
 

$8,929,941.49
 

Dividends Nos. 17 and 18 on Preferred Capital Stock, payable August

15, 1931, and February 15, 1932___________________________              $262,057.04

Dividends Nos. 13 and 14 on Common Capital Stock, payable June 1,

1931, and December 1, 1931.._..................................____________             1,399,763.04

Miscellaneous Debits—Net___________________......____________                108,119.75           1,769,939.83
 

Balance, Surplus December 31,  1931.....___________........_.............._____                                       ,$7,160,001.66