investment rating, would be assured. Rates, accordingly, would be low. Issue size, for liquidity purposes, would be large. Equity, in terms of major corporations, would be restored. And with the promise of a receptive institutional market for the bonds, the necessary incentive to investment bankers to assemble such issues would be fully and effectively provided. Bank of America respectfully urges this subcommittee to take favorable action on H. R. 78. [The charts and tables referred to follow:] TABLE 1.-PAPER AND PULP INDUSTRY: THEORETICAL POLLUTION COST CALCULATIONS Case II-Assuming $1.98 Billion Total Cost and a Geometrical Relationship Between Size and Cost per Unit Total pollution costs $1.98 billion: Cost per employee.. $5, 530 $20,000 $18,000 $15,000 $12,000 $9,000 $7,000 $5, 530 $5,056 Cost per company..7, 644, 787 116, 000 583, 200 1, 101, 000 1, 957, 800 3, 287, 700 5,079, 900 8, 589, 196 97, 120, 704 |