rent charged for the space occupied, amounted for the year 1927 to $240,848.56, whereof $66,823.59 was borne directly by this company and the balance of $174,024.97 was paid by the subsidiary (or controlled) companies. This company also maintains a stock registration and bond coupon department and acts as fiscal for certain of its subsidiary (or controlled) companies and for certain other companies as set forth below. The amounts of the fees charged for services as fiscal agent for the year 1927 were as follows: Subsidiary (or controlled) companies. The Detroit Edison Co., Detroit, Mich Total. $41,000 45, 000 125 86, 125 The amounts charged to the subsidiary (or controlled) companies, respectively, as summarized above, are as follows: The aggregate of these charges represents approximately one-quarter of 1 per cent of the gross earnings of subsidiary companies for the year. Respectfully submitted. THE NORTH AMERICAN COMPANY, I want to say here that none of these fees, none of these charges, are against any of these Washington properties whatsoever. The aggregate of these charges represents approximately one-quarter of 1 per cent of the gross earnings of the subsidiary companies for the year. There is attached to that letter a series of exhibits which with your permission, Mr. Chairman, I will put into the record, including the letter of the Federal Trade Commission addressed to the North American Co. asking for these exhibits and for this information, which sets forth clearly and entirely the activities and business of the North American Co., just where its interests are, the amount of the interest, and everything as requested by the Federal Trade Commission. (The papers referred to follow :) THE NORTH AMERICAN Co., FEDERAL TRADE COMMISSION, 60 Broadway, New York City, N. Y. GENTLEMEN: Senate Resolution 83, Seventieth Congress, first session, directs the Federal Trade Commission to obtain certain information from holding companies. You are therefore requested to furnish the commission with a list as of March 1, 1928, of the public-utility companies and nonpublic-utility companies you control, directly or indirectly, showing name of company, address, character of business (as electric, gas, gas and electric, etc.), States in which they operate, number of shares owned, and the number of shares outstanding. If there are intermediate holding companies please include them in the list and in such a manner that the relations between the different holding companies and different operating companies will be perfectly clear. If your company performs services for public-utility companies, please state the names and addresses of the utility companies served together with the kinds of service rendered in each case during the period from January 1, 1927, to date. A franked envelope is enclosed for your convenience in replying. Very truly yours, FEDERAL TRADE COMMISSION, The North American Co.-Details of companies controlled, directly or indirectly, as of March 1, 1928, prepared in compliance with request of Federal Trade Commission, dated April 3, 1928, made pursuant to Senate Resolution 83, Seventieth Congress |