Stockholders' Equity

Contributed Capital

   Preferred stock, 4% cumulative ($25 par value; 50,000 shares authorized;

30,000 shares issued and outstanding )

$       750,000

Capital in excess of par, preferred stock

             225,000

Common stock ($0.01 par value; 800,000 shares authorized; ________ shares issued and ____ shares outstanding

             5,000

Capital in excess of par, common stock

       1,300,000

Total contributed capital

   $    2,280,000

Retained Earnings

         1,020,000

Treasury Stock, 40,000 common shares, at cost

         (120,000)

Total stockholders' equity

   $    3180,000