Explanatory Notes Revenue and Expenses of New York Stock Exchange Securities Commissions include commissions earned on all agency equity and debt transactions including non-inventory principal transactions. Net commissions earned on introduced accounts carried by other brokers and on omnibus accounts carried for other brokers are also included. Gain or Loss in Securities Accounts includes both realized and unrealized gain or loss on securities in trading and investment accounts. Trading accounts consist of securities held for sale in the ordinary course of business and not identified as held for investment. Dividends and interest are treated as an adjustment to the gain or loss and the amounts reported have not been reduced by any allocation for Federal income taxes. Profit or Loss from Underwriting and Selling Groups is determined as the difference between the proceeds of securities sold and their purchase price, adjusted for discounts, commissions and allowances received from or given to other brokers. Direct expenses associated with a specific underwriting may be considered as a cost in gross profit or loss; employees compensation and employment costs of persons working in an "underwriting department" and other related expenses of such departments are treated as indicated expenses and not deducted in determining gross profit or loss but included under the appropriate expense item in determining gross profit or loss, any unrealized loss on securities unsold at the time the underwriting account was closed is considered as a deduction from the proceeds of securities sold. Securities Purchased Under Agreements to Resell -- This asset, which results from funds lent under reverse repurchase agreements, is a secured receivable from the borrower of funds. The securities are not included in "Securities and spot commodities owned, at market value." Securities Sold Under Repurchase Agreements The securities sold under repurchase agreements are treated as if they were still owned by the seller and are included in his asset "Securities and spot commodities owned, at market value." The proceeds of the sale are reported as a liability under this caption. These Assets under Subordination Agreements and Subordinated Liabilities assets have been contributed to the broker-dealer for purposes of capital and their withdrawal is restricted under certain circumstances. Subordinated liabilities are met after the claims of general creditors in the event of Q-500 UNCONSOLIDATED QUARTERLY REVENUE AND EXPENSES OF NYSE MEMBER FIRMS DOING A PUBLIC BUSINESS (MILLIONS OF DOLLARS) Commissions on transactions in listed equity securities executed on an exchange 513 872 889 669 658 789 862 816 Commissions on transactions in exchange listed equity securities executed over-the-counter Commissions on listed option transactions All other securities commissions 5 7 7 8 Total gains/losses on firm securities trading accts From market making in o-t-c equity securities Total gains/losses on firm securities invest. accts. Includes realized gains (losses) Includes unrealized gains (losses) 59 10 11 10 7 103 296 65 97 31 122 151 99 10 114 148 91 69 91 127 11 43 -12 53 40 52 -43 Salaries and other employment costs for general partners, and voting stockholder officers 83 102 107 102 Includes interest credited to gen. and ltd. partners 364 425 509 18 22 20 107 115 114 226 317 406 NA =Not Available Note: Individual totals may not add due to rounding and different reporting requirements Source: Focus report X-17A-5 Q-520: UNCONSOLIDATED BALANCE SHEET OF NYSE MEMBER FIRMS DOING A PUBLIC BUSINESS Securities and spot commodities owned, at mkt. value 12,302 13,679 15,071 15,238 16,125 22,159 22,645 20,199 69 Securities borrowed under subordination agreements and partners' individual and capital securities accounts, at market value Property, furniture, equipment, leasehold improvements and rights under lease agreements* 282 290 289 306 322 336 351 363 * At cost (net of accumulated depreciation and amortization) Note: The implementation of the revised Net Capital Rule 15c3-1 and the adoption of Form X-17A-5 as of January 1,1976, required restructuring of balance sheet information. This information is not comparable with previous balance sheet data based on the Joint Regulatory report. Source: Focus Report X-17A-5 Q-520: UNCONSOLIDATED BALANCE SHEET OF NYSE MEMBER FIRMS DOING A PUBLIC BUSINESS agreements 180 179 178 197 196 190 215 201 Exchange memberships contributed for use of company at market value 10 11 17 14 23 25 31 33 Note: The implementation of the revised Net Capital Rule 15c3-1 and the adoption of Form X-17A-5 as of January 1,1976, required restructuring of balance sheet information. This information is not comparable with previous balance sheet data based on the Joint Regulatory report. Source: Focus Report X-17A-5 S-121: AVERAGE PRICE OF SHARES TRADED ON REGISTERED STOCK EXCHANGES Average Price of Shares Traded on the New York Stock Exchange Annual Year Jan Feb Mar Apr Jun $44.62 1971 $29.146 $31.86 $36.97 $35.81 1972 $34.153 $33.74 $35.76 May Jul Sep Oct Nov Dec Average 1973 $37.19 $37.33 $35.19 $35.18 $34.61 $32.02 $31.78 $31.30 $33.64 $34.25 $33.38 $29.11 $33.77 1974 $29.99 $29.09 $30.02 $28.92 $27.10 $28.25 $25.71 $26.19 $21.91 $22.56 $21.80 $20.88 $25.95 $21.07 $24.33 $24.88 $26.93 1975 $26.35 $27.33 $29.10 $28.43 $29.18 $28.32 $26.03 $26.46 $30.32 $30.75 $31.23 $26.85 $29.100 $29.13 $28.54 $26.46 $23.14 $26.84 $27.51 $26.53 $23.01 Average Price of Shares Traded on the American Stock Exchange May Jun Jul Oct Nov Dec Average $23.78 $23.41 $23.09 $22.14 $23.36 $20.84 $22.43 $13.97 $15.48 $14.87 $15.05 $16.35 $17.32 $18.67 $18.74 $17.10 $17.09 $15.83 $20.39 $19.85 $17.447 $16.74 $16.35 $15.39 $18.54 $14.08 $16.06 $13.59 $14.83 $15.23 $9.66 $10.00 $7.22 $9.42 $10.75 $7.09 $11.63 $13.98 $10.80 $11.65 $11.54 $11.41 $10.49 $8.81 $10.50 $11.10 $11.63 $12.15 $10.77 $11.49 $11.72 |