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The assets in VEBA II consisted of cash, State and municipal
securities, and shares of a regulated investment company. These
assets were held in custodial accounts. The amounts of
investment earnings produced by the principal in the VEBA II
trust were as follows:
Year Dividends and Interest
1986 $1,642,171
1987 1,643,649
1988 1,649,955
1989 1,650,062
1990 1,641,441
1991 1,637,590
1992 1,633,604
1993 (per Form 990) 1,605,327
(per Form 5500) 1,591,961
1994 1,536,469
Petitioner paid holiday pay directly to its employees who
were covered by VEBA II. The amounts of holiday pay benefits for
fixed holidays paid to employees covered by the holiday pay plan
were as follows:
Year Holiday Pay Plan Benefits Paid
1986 $1,523,997
1987 1,896,719
1988 1,800,515
1989 2,041,601
1990 2,101,084
1991 2,150,267
1992 2,209,211
1993 2,287,228
1994 1,768,692
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