As you will note from the table, the composite parts of this analysis were film consumption in feet daily, the film cost daily, the daily labor cost, including fringe benefits, the microfilm equipment cost, and the microfilm cost per 1,000 items. In the bank size category, under $25 million, the range of cost of microfilming per 1,000 items was $1.10 to $1.80, with an average cost of $1.36. In the bank size category $25 million to $100 million, the range of microfilming cost per 1,000 items was $0.50 to $0.57, with an average cost of $0.53. In the bank size category $100 million to $500 million, the range of cost for microfilming a thousand items was $0.50 to $0.51, with an average cost of $0.505. In the bank size category of $500 million and over, the range of costs for microfilming a thousand items was $0.44 -to $0.52, with an average cost of $0.49. Accurate cost information on retrieval is extremely difficult to develop. Retrieval costs vary according to the accuracy with which the information is filed, the system used in retrieval, and the type of equipment used. These are just a few of the variables involved. The most commonly used system seems to be the motorized roll film system. Therefore, the following cost information assumes this system to be the one used. The range of retrieval costs is $0.54 per 1,000 items for the largest bank-size category, to $3.00 per 1,000 items for the smallest bank-size category. Some respondents to the survey indicated that retrieval costs would vary inversely to the number of items retrieved. Other respondents indicated that the retrieval cost would be constant regardless of the number of items retrieved. If the microfilmed record were reproduced in hard copy, it would add approximately 6 cents per item to the retrieval costs. It should be emphasized that there are a number of variables in both the cost of microfilming and the cost of retrieval which could cause the cost to vary from bank-to-bank and from system-to-system. To provide the committee with detailed information, I would like to introduce to you two experts in the field of microfilming and retrieving bank checks. On my immediate left, Mr. Jerry Smith, marketing coordinator, financial markets, Business Systems Markets Division, Eastman Kodak Co., Rochester, N.Y.; on my far left, Mr. Art Spaulding, staff assistant to the vice president, engineering, Business Equipment Group, Bell & Howell Co., Chicago, Ill. Mr. Chairman, these men are at your disposal to assist you and the committee in every possible way. Thank you. Chairman PATMAN. Thank you, sir. And I have some questions prepared by the staff that we feel are important. We will ask you gentlemen to respond according to the one that you desire. Without objection, I will proceed on these questions until I get through, with the understanding that the minority will have just as much time as I use. Now, furthermore, without objection, we will place in the record charts, and articles submitted by the witnesses. (The information referred to follows:) |