The American Transportation Question
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In our eReader you can find the full English version of the book. Read The American Transportation Question 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 The American Transportation Question
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This is a misapprehension. In some periods many have not paid the interest on their bonds, and have become bankrupt. Never have all paid dividends on all their stock. In the three years 1895-1897 inclusive they paid no divi- 114 VALUATION AND PROFITS dends on over 70 per cent, of it. Not until as re- cently as 1901 did they pay dividends on 50 per cent, of it. Even in 1907, their most prosperous year, they paid none on 33 per cent, of it. Of course, if they based their rates on their capitali- ...zation, they would have so fixed them as to have made them yield a return on this part of their stock. They have had to make rates which the traffic would bear, and with which they could meet the competition of each other and of the water carriers. Thus conditioned, they have been un- able so to adjust them as to earn a return on their aggregate capitalization — however much they may have longed to do so. They would be confronted with similar conditions after a valuation was made. The rates on each commodity and for each haul would have to be adjusted as they have been in the past — that is, with reference to what each kind of traffic, according to its value and the com- petitive conditions under which it was handled, could and would bear — and if the aggregate valua- tion of the railways, like their aggregate capitali- zation in the past, were such that the rates could not be so adjusted as to earn a return on all of it, the roads would have to be content without a re- turn on parts of it.
What to read after The American Transportation Question?
You can find similar books in the "Read Also" column, or choose other free books by Dunn, Samuel Orace, 1877- to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This is a misapprehension. In some periods many have not paid the interest on their bonds, and have become bankrupt. Never have all paid dividends on all their stock. In the three years 1895-1897 inclusive they paid no divi- 114 VALUATION AND PROFITS dends on over 70 per cent, of it. Not until as re- cently as 1901 did they pay dividends on 50 per cent, of it. Even in 1907, their most prosperous year, they paid none on 33 per cent, of it. Of course, if they based their rates on their capitali- ...zation, they would have so fixed them as to have made them yield a return on this part of their stock. They have had to make rates which the traffic would bear, and with which they could meet the competition of each other and of the water carriers. Thus conditioned, they have been un- able so to adjust them as to earn a return on their aggregate capitalization — however much they may have longed to do so. They would be confronted with similar conditions after a valuation was made. The rates on each commodity and for each haul would have to be adjusted as they have been in the past — that is, with reference to what each kind of traffic, according to its value and the com- petitive conditions under which it was handled, could and would bear — and if the aggregate valua- tion of the railways, like their aggregate capitali- zation in the past, were such that the rates could not be so adjusted as to earn a return on all of it, the roads would have to be content without a re- turn on parts of it.
What to read after The American Transportation Question?
You can find similar books in the "Read Also" column, or choose other free books by Dunn, Samuel Orace, 1877- to read onlineMoreLess
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