Jacob McDonough breaks down the 1906 Annual Report of National Cash Register. You can reach Jacob with any questions or comments at jacob@mcdonough-investments.com or on Twitter @McD_Investments.

You can find the 1906 Annual Report of NCR at archive.org at the link below:

https://archive.org/details/ncr-ar-1906

You can find the excellent book 'John H. Patterson: Pioneer in Industrial Welfare' at archive.org at the link below:

https://archive.org/details/johnhpattersonpi00crow