Corporate Disclosure

Machinery and Products Institute response to SEC on tax reform...
Letter from Congressman Laurence N. Woodworth, Joint Committee
on Internal Revenue Taxation, dated April 19, 1974, answering request
for an analysis of the 1973 annual report of Babcock & Wilcox to
determine how much Federal income tax will be paid by the corpor-
ation (with enclosure).

Letter from Thomas E. Kauper, Assistant Attorney General, Anti-
trust Division, Department of Justice, April 3, 1974, in response to
inquiry concerning the effect of certain provisions in the tax code on
the growth of larger corporations (with enclosure).
"Tax Provisions Affecting Business Concentration," by Jane G.
Gravelle, analyst in taxation and fiscal policy, Economics Division,
The Library of Congress, Congressional Research Service, March 29,
1974__

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595

600

601

602

604

605

611

612

Stafford, Hon. George M.:

Notice to carriers to provide for the Interstate Commerce Commission,
Bureau of Accounts, schedules which provide for the disclosure of
the identity and other information with respect to the largest
holders of the respondent carriers' outstanding capital stock, dated
February 14, 1974.

Follow-up letter for original letter dated February 14, 1974.
Fifteen largest railroads, schedules of debt and equity:

Summary, A-1..

Indebtedness of the 15 largest rail carriers, A-2

Percent of the 15 largest railroads' debt held by financial institu-
tions, et al., A-3__

Page

639

641

642

643

Debt and equity ratios, A-4.

644

Major shareholders, A-5--

645-659

Ten largest motor carriers, schedules of debt and equity:

Summary, B-1..

660

Indebtedness of 10 largest motor carriers, B-2.

661

Percent of the 10 largest motor carriers' debt held by financial in-
stitutions, et al., B-3...

662

Major holders of debt of the 10 largest motor carriers, B-4

663

Debt and equity ratios, B-5.

664

Major shareholders, B-6-

665-674

Ten largest pipelines, schedules of debt and equity:

Summary, C-1..

675

Indebtedness of the 10 largest pipelines, C-2.

676

Percent of the 10 largest pipelines' debt held by financial institu-
tions, et al., C-3_.

677

Debt and equity ratios, C-4

678

Stockholders, C-5...

679

Undivided joint interest petroleum pipe line systems, C-6 680-682 Directors of large carriers and financial institutions, schedules of affiliations:

Summary, D-1...

683

Interlocking directorates-large carriers and financial institutions,
D-2__

684

Fifteen largest railroads, affiliations of nonofficer directors, D-3-- 685-691
Ten largest motor carriers, affiliations of nonofficer directors, D. 4. 692-694
Major financial institution creditors of large railroads and motor
carriers, D-5

695

Chart showing directors of the Penn Central Transportation Co. and their affiliations with banking institutions and other major corporations, as of January 1970-.

Table showing major railroads directly controlled by holding companies and date of involvement...

foldin

719

Selected statistics for Class I railroads in the United States indirectly controlled by conglomerate holding companies, years 1972–73__. Letter from Alvin E. Toffel, Special Consultant to Norman Simon, to Vic Reinemer, Staff Director, Subcommittee on Budgeting, Management, and Expenditures, dated May 28, 1974, concerning testimony by Mr. McCormick, of ICC Chairman Stafford's staff, in respect to Mr. Toffel's role in the ICC's follow-up to Mr. Simon's complaints about proper disclosure in a recent security offering-Letter to E. Winslow Turner, Chief Counsel, Subcommittee on Budgeting, Management, and Expenditures, Senator Metcalf, Chairman, from Norman Medvin, Senior Consultant, Stanley H. Ruttenberg & Associates, Inc., dated April 24, 1974, responding to invitation for information on joint venture oil pipeline systems__. Nassikas, Hon. John N.:

Table-Electric utilities debt obligations__

720

729

733

Exhibit 1.-Notice of proposed rulemaking, Docket No. RM74-17, increasing FPC reporting requirements to include 30 top principal voting stockholders rather than top 10.

737

Exhibit 2.-Holdings of common stock of Carolina Power & Light held and reported by First National City Bank..........

744

Nassikas, Hon. John N-Continued

Exhibit_3.-Holdings of Carolina Power & Light by First National Page
City Bank as reported to FPC..

Exhibit 4.-List of officers and directors authorized to hold interlock-
ing positions in public utilities who also hold positions with investing
institutions__

Exhibit 5.-List of banks having a director position interlocked with
officer or director positions of public utilities which had short-term
borrowings from the banks as of December 31, 1972-

List of banks having a director position interlocked with officer or
director positions of public utilities—stock of public utility held
by nominees of banks-
Memorandum to Chairman Nassikas, from the Office of General
Counsel, Daniel C. Lamke, May 7, 1974, concerning requiring
companies jurisdictional to it to report legal ownership of its
largest stockholders..

Memorandum from Morris R. Fitzgerald, Chief, Division of Audits,
FPC, to L. H. Drennan, Jr., Chief Accountant, FPC, May 2, 1974,
concerning analysis of reasons Northern States Power Co. (Minn.)
reported negative Federal income taxes for utility operations for
the year 1973 and how tax benefits may be passed on to consumers__
Interlocks and stockholding relationships between Stone & Webster
Organization and public utilities and natural gas pipelines...
"FPC Report on Pipeline Company Diversification," by David S.
Schwartz, Office of Economics, November 4, 1968-.

745

746

755

757

761

764

774

782

1077

1087

Letter to Senator Metcalf from Chairman Nassikas, dated June 12,
1974, re operating revenues, income taxes, and net income of
electric utility and natural gas pipeline companies..
Letter to Senator Metcalf from John Nassikas, Chairman, Federal
Power Commission, dated May 10, 1974, requesting corrections in
transcripts and additional material be added to the hearing record___ 1086
Appendix A.-List of banks having a director position inter-
locked with officer or director positions of public utilities
Appendix B.-Memorandum to Chairman Nassikas, Federal
Power Commission, from Daniel C. Lamke, the Office of the
General Counsel, FPC, dated May 7, 1974-
Appendix C.-Memorandum to L. H. Drennan, Jr., Chief
Accountant, FPC, from Morris R. Fitzgerald, Chief, Division
of Audits, FPC, concerning analysis of reasons Northern States
Power Company (Minn.) (NSP) reported negative Federal
income taxes for utility operations for the year 1973, etc..
Report of pipeline company diversification__.

Hughes, Hon. Phillip S.:
Letter to Hon. Lewis A. Engman, Chairman, Federal Trade Commis-
sion, from Hassell B. Bell, Assistant for Special Studies to the As-
sistant Comptroller General of the United States, dated April 11,
1974 on reviewing and reporting on proposed annual line of business
report--

GAO notice of proposed rulemaking: Clearance of proposals by inde-
pendent Federal regulatory agencies to conduct or sponsor the
collection of information_.

Letter to Hon. Dean Burch, Chairman, Federal Communications Commission, from Phillip S. Hughes, Assistant Comptroller General, dated February 12, 1974 concerning certain review functions of the Comptroller General relating to information-gathering activities of independent regulatory agencies – –

Letter to Hon. Elmer B. Staats, Comptroller_General of the United States, from Charles A. Tobin, Secretary, Federal Trade Commission, dated March 15, 1974, in response for comments on the proposed General Accounting Office regulations to implement 44 USC sec. 3512, to review the collection of information by independent Federal regulatory agencies---

1088

1094

862

865

871

872

Staff Summary of independent regulatory agencies' response to Chairman

Metcalf concerning clearance of forms by General Accounting Office,

May 15, 1974__

Chairman Metcalf's letter to Commissions, dated March 5, 1974.

Responses to Chairman Metcalf's letter of March 5, 1974.

Atomic Energy Commission__.