CONSOLIDATED    INCOME   ACCOUNT   OF
THE    NEW   YORK   AlR    BRAKE    COMPANY

YEAR ENDING  DECEMBER  31st,  1912.
 

.Sales for the year..................................................................            $3,035,623.14

Cost of Manufacturing, Labor, Material and Factory Expense................              2.074,204.29

Factory Profit.................                 961,41885

Income  from Investments, Interest, etc.........................................                  42,632.59

Gross Profit for the year..................              1,004,051.44

Administration  Expenses........................................        238,220.84

Taxes..............................................................          11,650.22

Paid 6% Interest and Expense on Convertible Gold Bonds___        181,800.00                431,671.06

Net Profit for year ending December 31st, 1912..................                 572,380.38

Deficit December 31st, 1911......................................        245,952.96

Dividend December 1912.........................................        149,886.00                 39.5.838.96

Surplus December 31st, 1912..................             f 176,541.42
 

CONSOLIDATED  BALANCE SHEET,   DECEMBER  31st, 1912.

ASSETS.

Cash in Banks...................................................    *    855.696.58

Accounts and Bills Receivable..................................       1,188,455.94

Inventory, goods and material on hand........................      i ,183,939.37

Factories, Patents, Water Power, Land and Machinery.......      9,612,604.56

Stocks and Bonds................................................         452,956.25            13,293,652.70

LIABILITIES.

Accounts Payable................................................        $ 87,111.28

Accrued Interest on Bonds......................................            30,000.00

Capital Stock....................................................      10,000,000.00

F'irst Mortgage 6% Convertible 20-year Gold Bonds..........       3,000,000.00

Surplus December 31st, 1912...................................          176,541.42            13.^93.652.70

E. A. JOHNSON,

Assistant Treasurer.