The IBM 407 accounting machine prepared reports and records from punched cards. It was a fast versatile unit with advanced features that provided high production and complete flexibility. Introduced on July 19, 1949, the 407 read 80-column cards, positioned forms, recorded details, and added and subtracted to print any desired combination of totals up to 150 lines per minute.
Montly rental charges varied from $800 to $920 depending on the model. The Type 407 had been in the IBM product line for almost three decades when IBM withdrew the last of the models from marketing on December 17, 1976. (VV4007)