Principles of InvestmentA. W. Shaw Company, 1924 - 902 pages |
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Common terms and phrases
amount assets average banker banks basis bond issues bondholders borrowing broker business cycle capital cash charges common stock concerns contract corporation cost courts current assets debenture bonds debt demand depreciation dividends earnings economic electric element equipment equity expenses factor of safety farm Federal Government holders income increase indebtedness industrial interest rate Interstate Commerce Commission investment investor Liberty bonds Liberty loan lien loans margin maturity ment method mortgage bonds movements municipal municipal bonds obligations operating outstanding paid par value payment period poration preferred stock principal production profits provisions public utility purchase railroad railway rate of interest ratio real estate result revenues risk roads savings securities sell sinking fund speculative stockholders stocks and bonds supply taxation taxes tion United usually valuation Yes Yes Yes yield York Stock Exchange
Popular passages
Page 469 - First. In such investigation said commission shall ascertain and report in detail as to each piece of property other than land owned or used by said common carrier for its purposes as a common carrier, the original cost to date, the cost of reproduction new, the cost of reproduction less depreciation, and an analysis of the methods by which these several costs are obtained, and the reason for their differences, if any.
Page 548 - There is no particular rate of compensation which must in all cases and in all parts of the country be regarded as sufficient for capital invested in business enterprises. Such compensation must depend greatly upon circumstances and locality. Among other things, the amount of risk in the business is a most important factor, as well as the locality where the business is conducted and the rate expected and usually realized there upon investments of a somewhat similar nature with regard to the risk...
Page 111 - ... exercise the judgment and care under the circumstances then prevailing, which men of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.
Page 111 - All that can be required of a trustee to invest, is that he shall conduct himself faithfully, and exercise a sound discretion. He is to observe how men of prudence, discretion, and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds; considering the probable income, as well as the probable safety, of the capital to be invested.
Page 183 - ... without deduction for any tax which the obligor may be required or permitted to pay thereon, or to retain therefrom under any law of the United States...
Page 453 - The property is held in private ownership and it is that property, and not the original cost of it, of which the owner may not be deprived without due process of law.
Page 457 - Act, in so far as deemed by it available, and shall give due consideration to all the elements of value recognized by the law of the land for ratemaking purposes...
Page 548 - The less risk, the less right to any unusual returns upon the investments. One who invests his money in a business of a somewhat hazardous character is very properly held to have the right to a larger return without legislative interference than can be obtained from an investment in Government bonds or other perfectly safe security.
Page 457 - In making such determination it shall give due consideration, among other things, to the transportation needs of the country and the necessity (under honest, efficient and economical management of existing transportation facilities) of enlarging such facilities in order to provide the people of the United States with adequate transportation...
Page 545 - the condition or process by which units gradually cease to be useful or profitable as a part of the property, on account of changed conditions." * Obsolescence is not necessarily confined to particular elements or parts of a plant; the whole may become obsolete. Obsolescence may arise as the result of laws regulating or forbidding the particular use of the property as well as from changes...