Kommentar zum Gesetz über eine Kriegsabgabe von Vermögenszuwachs und zum Gesetz über eine außerordentliche Kriegsabgabe für das Rechnungsjahr 1919 vom 10. September 1919

Die hygienischen Verhältnisse der Insel Formosa

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Monograph

Identifikator:: 1016238525

URN:: urn:nbn:de:zbw-retromon-55274

Document type:: Monograph

Title:: Kommentar zum Gesetz über eine Kriegsabgabe von Vermögenszuwachs und zum Gesetz über eine außerordentliche Kriegsabgabe für das Rechnungsjahr 1919 vom 10. September 1919

Place of publication:: Berlin

Publisher:: Verlag von Otto Liebmann

Year of publication:: 1920

Scope:: 1 Online-Ressource (XXIII, 548 Seiten)

Collection:: Economics Books

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The Age of Mergers 1135 plies with particular force to statistics on the relation- ship between stock prices and their earnings. Our best companies particularly have often understated their earnings by charging off unusual sums for depreciation, and so on. Professor Ripley was right in urging on behalf of one of the minor parties in interest, the stockholders, publicity of corporate accounts. A true and complete balance sheet and income account, constituting a photograph of a company’s present condition and a lengthwise view of its management through a period of time, are essentials to be obtained by a stockhold- ers’ committee or by such agencies as the Federal Trade Commission. Doubtless such a requirement in behalf of the in- vestor is also in the interest of the consumer. Pro- fessor Ripley has likened the visitorial committee of stockholders, as an accomplishment in the field of finance, to the introduction of the company union in the field of labor. Thus the management is tied in, not only with its employees, but with a representative body of owners. Perhaps some day it may be tied in, also, with a representative committee of consum- ers entirely independent of the management. With publicity, the people are increasingly willing to be- lieve, with the accumulation of evidence, that it is best served by large-scale industry engaged in mass production, with relatively large overhead expenses and relatively small running expenses. No one would think today of trying to force Henry Ford to

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