Corporation Finance a Textbook for Colleges And Schools of Business Administrat
Corporation Finance a Textbook for Colleges And Schools of Business Administrat
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In our eReader you can find the full English version of the book. Read Corporation Finance a Textbook for Colleges And Schools of Business Administrat Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Corporation Finance a Textbook for Colleges And Schools of Business Administrat
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The corpora- tion which employs them becomes insolvent whatever the text- books of accountancy may say. At other times the payment of interest or dividends in excess of profits cannot be justified by any theory and can be called nothing short of fraud. Thus the American Malting Company, in a notable case that came before the courts, paid out nearly $900, 000 in dividends, while its gross profit, without allowing for depreciation or special re- serves, amounted to $500, 000. In 1872 the old Erie... Railway was rescued by Daniel E. Sickles from the notorious Drew- Fisk clique. In the three following years the road earned a profit of $1, 008, 775, but its directors represented the profit to be $5, 352, 573, on the basis of which dividends were paid on the preferred and common stocks. Meanwhile, $6, 000, 000 of bonds were sold. From 1888 to 1895, or in seven years before its failure, the Baltimore and Ohio paid out $6, 269, 008 in dividends, whereas an independent auditor found that less than $1, 000, 000 had been actually earned.
What to read after Corporation Finance a Textbook for Colleges And Schools of Business Administrat?
You can find similar books in the "Read Also" column, or choose other free books by Arthur S Arthur Stone Dewing to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The corpora- tion which employs them becomes insolvent whatever the text- books of accountancy may say. At other times the payment of interest or dividends in excess of profits cannot be justified by any theory and can be called nothing short of fraud. Thus the American Malting Company, in a notable case that came before the courts, paid out nearly $900, 000 in dividends, while its gross profit, without allowing for depreciation or special re- serves, amounted to $500, 000. In 1872 the old Erie... Railway was rescued by Daniel E. Sickles from the notorious Drew- Fisk clique. In the three following years the road earned a profit of $1, 008, 775, but its directors represented the profit to be $5, 352, 573, on the basis of which dividends were paid on the preferred and common stocks. Meanwhile, $6, 000, 000 of bonds were sold. From 1888 to 1895, or in seven years before its failure, the Baltimore and Ohio paid out $6, 269, 008 in dividends, whereas an independent auditor found that less than $1, 000, 000 had been actually earned.
What to read after Corporation Finance a Textbook for Colleges And Schools of Business Administrat?
You can find similar books in the "Read Also" column, or choose other free books by Arthur S Arthur Stone Dewing to read onlineMoreLess
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