Due to the pressure of time, these charts and tables were based on sources which were most readily available. In the past the sources used in the preparation of these charts have proven to However, time did not permit the cross checking of the data from these sources against other sources, nor did it permit the resolution of some minor inconsistencies in the data.

be reliable.

APPENDIX

In reference to the charts pertaining to: (1) Illinois Central Industries, Inc., (2) Kansas City Southern Industries, Inc., (3) Katy Industries, Inc., (4) Mississippi River Corporation, and (5) Northwest Industries, Inc., the following symbols have been used:

A broken line indicates that the stock in question has been trusteed. The application of the foregoing can be illustrated by referring to the Illinois Central Industries, Inc. chart.

At the top of the chart is the Union Pacific Railroad,
inside a circle which indicates that the UP has a position
in IC Industries stock. The 24% indicates the extent of
the ownership and the broken line indicates that the stock
has been deposited with an indeper.dent trustee. Illinois
Central Industries is a holding company (box with curved
ends). Illinois Central Industries owns 93% of the voting
stock of the Illinois Central Railroad, which is a trans-
portation company (ox with square ends). The Illinois
Central Railroad, in turn, among other things, owns 100%
of Madison Coal Company which is a non-transportation
company (box with pointed ends).

In reference to Bangor Punta and the Penn Central, due to the complexity of their respective corporate structures and the press of time it was not possible to depict these two companies in the same manner as was done for the first ve companies. However, the charts submitted herewith (of Bangor Punta and Penn Central) amply demonstrate the direct and indirect relationships between the "top" company in each case with its respective subsidiaries and affiliates.

Based on Form S-1, Registration Statement under the Securities Act of 1933.
filed 12/9/68 with SEC, Division of Corporation Finance.
2Bangor Punta also owns 12.3% of Lenox, Inc., common shares (china); Bangor
Punta Operations owns 13.3% of Manati Sugar Co. common.

3Bangor Punta has proposed a merger to Harley Davidson Motor Co. which was
seeking merger with American Machine and Foundry Co.

4Bangor Punta Operations owns 88,875 shares of Katy Ind., Inc. common. Syear ended 6/30/68 for Bangor Punta and year ended 4/30/68 for Waukesha Motor Co.

Smith & Wesson Pyrotechnics, Inc. (100%)
O&M Mfg. Co. (100%)

Waukesha Alaska, Inc. (100%)

Waukesha Motor Western Ltd. (100%)

Bangor and Aroostock Railroad

Co. (99%)

Van Buren Bridge Co. (100%)

Bangor Investment Co. (100%)

Machine Accounting, Inc. (100%)
McKay Rock Products, Inc. (100%)

O'Day "Canada" Ltd. (100%)
Canada Yact and Boat
Centre, Ltd. (100%)

Name holding companies-inactiveall 100%

Ace Tool & Die Co., Inc.

Foundry Equipment Co.

Henry Luhrs Sea Skiffs, Inc.

Knitbrook Mills Associates, Inc.
The Kinney Co.

Laminac, Inc.

Specialty Dyers, Inc.

Young Brothers Co.

Clawges Associates, Inc.

Detroit Sheet Metal Works

Seagoing Boats, Inc.

Waukesha Motor Co., Inc.

Starcraft Corp.

Duo-Marine Corp.
Jensen Marine Corp.

Rent-A-Cruise, Inc.

Smith & Wesson, Inc.
Lake Erie Chemical Co.

The O'Day Corp.

The Barker Mfg. Co.
Stephenson Corp.

Dominator Corp.

Coleman Ovens of Canada, Ltd.
Insignificant subsidiaries-all 100%
Springfield Corp.

Kinney Emblematic Jewelry
Canada, Ltd.

Bur. of Econ. 3/69

Illinois Central R. Co.: Waterloo R. Co.-100%; Jefferson Southwestern R. Co.-33%; Paducah & Illinois R. Co.-33% Gulf Mobile and Ohio R. Co:
New Orleans Great Northern Ry. Co.-98%; Mississippi Export R. Co.-25%. St. Loula-San Francisco Ry. Co.: Quanah, Acme and Pacific Ry. Co.-100
%; Alabama, Tennessee and Northern R. Co.-100%; Northeast Oklahoma R. Co.-100%. Illinois Central R. Co. also held following inactive railroads:
Blue laland R. Co.-100%; Kensington and Eastern R. Co.-100%; and South Chicago R. Co.-100%.

linois Central R. Co: (or Mississippi Valley Corp.)-No. 6; GMO R. Co.-No. 3; 8t. Louis-San Francisco Ry. Co.-No. 7.

Bur. of Econ. 3/69