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This paper has reported on an investigation of the relationship between the external industrial classification of corporations and the statistical groupings that can be found in their corporate financial measurements. It appears that utilities and industrials are quite different in their financial characteristics. Five industrial classes also appear to be quite distinct, although somewhat less distinct than the industrial-versus-utility comparisons. Consequently, it appears that financial variables do tend to distinguish the various industrial classifications and that, with only a corporation's financial characteristics known, its industrial classification may be reliably determined.