APPENDIX 
561 
disposal would impair or materially affect its financial position or the nature 
or extent of its operations as theretofore conducted. 
3. To publish periodical statements of earnings, as agreed upon with the 
Committee. 
4. To publish at least once in each year and submit to stockholders at 
least fifteen days in advance of the annual meeting of the corporation, a 
Balance Sheet, an Income Statement for the last fiscal year and a Surplus 
statement of the applicant company as a separate corporate entity and of 
each corporation in which it holds directly or indirectly a majority of the 
voting stock; or, in lieu thereof, eliminating all intercompany transactions : 
(a) a similar set of financial statements fully consolidated as to the 
applicant company and all corporations in which ‘t owns directly or 
indirectly a majority of the voting stock, or 
(b) a similar set of financial statements consolidated as to the appli- 
cant company and specifically named or described subsidiaries, with sepa- 
rate similar financial statements for each unconsolidated corporation in 
which the applicant company holds directly or indirectly a majority of 
the voting stock. 
Such statements shall disclose fully the nature and extent of the interest 
of the applicant company in the corporations whose unconsolidated financial 
statements are furnished, and also the existence of any default in interest. 
cumulative dividend requirements or sinking fund or redemption fund 
requirements of any of the corporations whose accounts are thus consoli- 
dated or separately shown. 
5. To publish all future annual financial statements of any character, 
in the form contained in the listing application and, in the publication of 
reports of earnings for any period of less than a fiscal year, to show net 
profits in the aggregate and per share after Depreciation, Depletion, Income 
Taxes and Interest, estimating the proportionate amount of these items as 
accurately as may be if not finally determined at date of publication. 
6. Not itself, and not to permit any subsidiary, directly or indirectly con- 
trolled, to take up as Income stock dividends received at an amount greater 
than that charged against Earnings, Earned Surplus or both of them by 
the issuing Company in relation thereto. 
7. To maintain, in accordance with the rules of the Stock Exchange, a 
transfer office or agency in the Borough of Manhattan, City of New York, 
where all listed securities shall be directly transferable, and the principal 
of all listed securities with interest or dividends thereon shall be payable; 
also a registry office in the Borough of Manhattan, City of New York, 
south of Chambers Street, other than its transfer office or agency in said 
city, where all listed securities shall be registered. If its transfer books 
should be permanently closed, to continue to split up certificates of listed 
stock into smaller denominations in the same name so long as such stock shall 
be retained upon its list by the New York Stock Exchange. If its transfer 
office or agency should be or should become located north of Chambers 
Street, to arrange, at its own cost and expense that its registry office will 
receive and re-deliver all securities deposited at such registry office for the 
purpose of transfer. 
8. To notify the Stock Exchange thirty days in advance of the effective 
date of any change in the authorized amounts of listed securities. 
9. Not to add to the number of its transfer agencies, nor to make any 
change of a transfer agency or of a trustee of its bonds or other securities