Railroad Accounting

Cover Railroad Accounting
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Note C. — The term affiliated companies includes: 1. Controlled companies, including companies solely controlled by the accounting company, and also companies jointly con- trolled by the accounting company and others under a joint ar- rangement.
2. Controlling companies, including both companies solely con- trolling the accounting company, and companies which jointly control the accounting company under a joint arrangement.
3. Companies controlled by controlled companies.
4. Companies controlle
...d by controlling companies.
By control is meant the ability to determine the action of a corporation. For the purposes of this account, the following are to be considered forms of control: (a) Eight through title to securities issued or assumed to exercise the major part of the voting power in the controlled corporation.
(6) Eight through agreement of some character or through some source other than title to securities, to name the majority of the board of directors, managers, or trustees of the con- trolled corporation.


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