mate losses and expenses. And on investment income, which provided most of this 4.2 percent, full corporate taxes were paid. Mr. IKARD. Where does the investment income initially come from? Mr. WICKER. This surplus you are speaking of, this 4.2. Mr. IKARD. That is what I thought. Mr. WICKER. Yes, sir. What we retain, we invest, and on whatever it earns we pay the full corporate tax, and have ever since 1942. Mr. IKARD. That is all. The CHAIRMAN. Are there any further questions of Mr. Wicker? If not, Mr. Wicker, we thank you, sir, for your appearance and the information given the committee. During your testimony, I observed that our colleague from Virginia, whom we affectionately refer to as Governor, because he served in that capacity in your State, Mr. Tuck, arrived at the witness table. Mr. Tuck, do you have anything you would like to say? Mr. Tuck. Mr. Chairman, I would like to say I am here at the request of your colleague from Virginia, Mr. Harrison, and Mr. Gary, who represents the Richmond district in the Congress, to present to this committee Senator Wicker and to sit by his side and just sustain and support him as best I could. I regret, however, that I was late and did not arrive until after he had begun his testimony. I am not familiar with the subject of his discussion, but I can state to this committee that I am sure that he has given it thorough and genuine study, and that he has not made any statements in which he does no have full faith and confidence. I have known Senator Wicker for more than 40 years, since our days in college. We were colleagues along with your colleague on this committee in the Senate of Virginia some twenty-odd years ago. He is a man that enjoys an unusually high degree of confidence and esteem. of the people of Virginia everywhere, and enjoys the respect of the members of his profession. As you can see, he is an able and capable lawyer and knows how to handle his subject very well. I am delighted to have been here with you this morning and hope that I have not transgressed too much upon your time by these little remarks. Mr. WICKER. Thank you, sir. The CHAIRMAN. We thank you for coming to the committee with Mr. Wicker. We thank you both. (The charts and lists referred to by Mr. Wicker are as follows:) 1. Table showing variations in effective tax rates between different types of stock companies. 2. Statistics on member companies of the Mutual Insurance Committee on Federal Taxation. 3. Statistics on member companies of (NCIT) "Allstate Committee." 4. List of member companies of the Mutual Insurance Committee on Federal Taxation. Exhibit demonstrating wide variation of effective tax rate upon various types Statistics on member companies, Mutual Insurance Committee on Federal Statistics on member companies of the "Allstate Committee" (National Committee for Insurance Taxation) MEMBER COMPANIES OF MUTUAL INSURANCE COMMITTEE ON FEDERAL TAXATION AS OF DECEMBER 31, 1957 ALABAMA General Mutual Insurance Company of Alabama, Birmingham ARKANSAS American Mutual Insurance Co., Morrilton Farmers Home Mutual Fire Insurance Co., Inc., Paragould Farmers Protective Aid Society, Stuttgart Farmers Union Mutual Insurance Co., Little Rock Northwest Arkansas Farmers Mutual Tornado Insurance Co., Fayetteville Washington County Farmers Mutual Fire Insurance Co., Fayetteville CALIFORNIA Farmers Mutual Fire Insurance Company of Mendocino County, Fort Bragg Farmers Mutual Fire Insurance Company of Sacramento County, Sacramento Farmers Mutual Fire Insurance Company of San Joaquin County, Stockton Glenn County Mutual Insurance Co., Orland Los Angeles Mutual Fire Insurance Co., Los Angeles Mutual Fire Association of Tulare County, Visalia Orange County Farmers Mutual Fire Insurance Co., Santa Ana San Bernardino County Mutual Fire Insurance Co., Ontario San Diego County Mutual Fire Insurance Co., San Diego Santa Barbara County Farmers Mutual Fire Association, Santa Barbara Scandinavian Mutual Fire Insurance Association, Fresno Sonoma County Farmers Mutual Fire Insurance Co., Santa Rosa Stanislaus County Mutual Fire Insurance Co., Modesto Ventura County Mutual Fire Insurance Co., Ventura COLORADO Farmers Union Mutual Insurance Co., Denver CONNECTICUT Middlesex Mutual Assurance Co., Middletown DELAWARE Farmers Mutual Fire Insurance Company of the State of Delaware, Wilmington Kent County Mutual Insurance Company of Dover, Del., Dover GEORGIA Cotton States Mutual Insurance Co., Atlanta IDAHO Kootenai County Farmers Mutual Fire Insurance Co., Coeur d'Alene Twin Falls County Mutual Fire Insurance Co., Buhl ILLINOIS Albion District Mutual Windstorm & Cyclone Insurance Co., Albion American Mutual Reinsurance Co., Chicago Belleville, St. Clair County Farmers' Mutual Fire Insurance Co., Belleville Buffalo Mutual Fire Insurance Co., Polo Carthage District Mutual Cyclone Insurance Co., Carthage Coles County Grange Insurance Co., Charleston Country Mutual Insurance Co., Chicago Dix Township Mutual Fire Insurance Co., Paxton Dunham & Chemung Co., Mutual Fire Insurance Co., Harvard Florists' Mutual Insurance Co., Edwardsville Forreston County Mutual Fire Insurance Co., Forreston Garden Plain Mutual Fire Insurance Co., Fulton Greene County Mutual County Fire Insurance Co., Greenfield Hamlet Mutual Fire & Lightning Insurance Company of Carthage, Carthage Harmony Mutual County Fire Insurance Company of Carthage, Carthage Home Owners Mutual Insurance Co., Chicago Illinois Mutual Fire Insurance Co., Belvidere Jacksonville Farmers Mutual County Fire Insurance Co., Jacksonville Kane County Mutual Fire Insurance Co., Geneva Lancaster Township Mutual Fire Insurance Co., Freeport Louisville Clay County Farmers Mutual Fire Insurance Co., Louisville Lutheran Mutual Fire Insurance Co., Chicago Lumbermens Mutual Casualty Co., Chicago Macoupin County Mutual Fire Insurance Co., Carlinville Millers Mutual Insurance Association of Illinois, Alton The Montgomery County Mutual Fire Insurance Co., Hillsboro Mount Carroll Mutual Fire Insurance Co., Mount Carroll Mutual County Fire Insurance Company of Mount Prospect, Ill., Mount Prospect Nunda-Algonquin Mutual Fire Insurance Co., Crystal Lake Pana-Hillsboro District Cyclone Mutual Insurance Co., Hillsboro Pesotum Township Mutual Fire Insurance Co., Sadorus INDIANA Bartholomew County Farmers Mutual Fire & Lightning Insurance Co., Columbus The Boone Farm Mutual Company of Lebanon, Ind., Lebanon Brotherhood Mutual Insurance Co., Fort Wayne Citizens Mutual Fire Insurance Co., Richmond Farmers Mutual Fire Insurance Company of Clay Township, Spencer County, Lincoln City Farmers Mutual Fire Insurance Company of Jay County, Portland Farmers Mutual Fire Insurance Company of La Porte County, La Porte German Mutual Fire Insurance Co. of Warrick County, Chandler Gibson, Warrick & Vanderburg Farmers Mutual Insurance Co., Haubstadt Grain Dealers Mutual Insurance Co., Indianapolis Indiana Farmers Mutual Insurance Co., Indianapolis Indiana Lumbermens Mutual Insurance Co., Indianapolis Indiana Mutual Hail Insurance Co., Indianapolis Indiana Union Mutual Insurance Co., Indianapolis Jefferson County Patrons Mutual Fire Insurance Company of Madison, Madison Lawrence County Farmers Mutual Insurance Co., Bedford Meridian Mutual Insurance Co., Indianapolis Michigan City Mutual Fire Insurance Co., Michigan City Posey County Mutual Fire Insurance Co., Mount Vernon Remington Farmers Mutual Insurance Co., Remington Rockcreek Twp. Farmers Mutual Insurance Co., Uniondale Switzerland & Ohio Cos. Patrons Mutual Fire Insurance Co., Rising Sun IOWA Agricultural Mutual Insurance Association, Des Moines Allied Mutual Casualty Co., Des Moines American Mutual Insurance Association of Wheatland, Clinton County, Wheatland American Mutual Insurance Association, Scott County, Davenport Buena Vista Mutual Insurance Association, Alta Calhoun Mutual Insurance Association, Lake City Castle Grove Mutual Insurance Association of Monticello, Jones County, Monticello Cerro Gordo Mutual Insurance Association, Mason City Clay Mutual Insurance Association, Spencer Dallas Mutual Insurance Association, Dallas Center Delaware County Mutual Insurance Association, Manchester Dickinson Co. Farmers Mutual Insurance Association, Spirit Lake The Druggists' Mutual Insurance Company of Iowa, Algona Eden Mutual Insurance Association, Benton County, Vinton Employers' Mutual Casualty Co., Des Moines Farmers Mutual Insurance Association, Adams County, Corning Farmers Mutual Insurance Association of Birmingham, Van Buren County, Farmers Mutual Insurance Association of Black Hawk County, Hudson Farmers Mutual Insurance Association of Clinton and Adjacent counties, Wheatland Farmers Mutual Insurance Association, Crawford Company, Schleswig The Farmers Mutual Fire & Lightning Insurance Association of Emmet and adjacent counties, Armstrong Farmers Mutual Insurance Association of Garnavillo, Clayton County, Garnavillo Farmers Mutual Insurance Association of Iowa, Rockford Farmers Mutual Insurance Association of O'Brien County, Hartley Farmers Mutual Insurance Association, Osceola County, Sibley Farmers Mutual Fire Insurance Association of Polk County, Des Moines Farmers Mutual Insurance Association of Sioux and adjacent counties, Hull Farmers Mutual Insurance Association of Winnebago County, Lake Mills Farmers Mutual Reinsurance Co., Grinnell Farmers State Mutual Hail Association of Estherville, Iowa, Estherville 20675-58-pt. 3————56 |