Studies in securities

Bibliographic data

Monograph

Identifikator:: 1757542078

URN:: urn:nbn:de:zbw-retromon-134903

Document type:: Monograph

Title:: Studies in securities

Edition:: Revised

Place of publication:: New York

Publisher:: Jas. J. Oliphant & Co.

Year of publication:: 1927

Scope:: 81 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Allis Chalmers Manufacturing Co.

Collection:: Economics Books

STUDIES IN SECURITIES equipment, gas and oil engines, pumps (increased by an important division of Worthington Pump & Machinery Corp.), tractors, and heavy machinery, Allis Chalmers maintains 33 domestic and four foreign district offices and has sales agencies in 20 foreign cities, providing a well established world-wide distributive organ- ization. In the twelve years ended 1926 this company earned a surplus of $21,704,000 available for dividends on its common stock, equal to $83.50 a share, and paid owt $8,100,000 in common dividends ($3,120,000 of this in past two years), or $31 a share. In even the severe test year, 1921, the $4 dividend rate at that time was fully earned and the treasury position of the company at the end of 1921 was the strongest in its history to that date. Earnings per share in recent years have been as follows: 1928.... ¢a.35 “200 1925. ... Ta B 1994... In these six years there was expended for development work an aggregate equal to $9.95 a share additional and there was charged off for depreciation an aggregate equal to $17.10 a share. As of December 381, 1926 current liabilities were $5,718,000 and current assets $33,047,000 including $11,922,000 cash and market- able securities. In recent years’ reports, plant account, patents, and good will have been set forth in one figure, but deducting from total property account the figure of $19,287,000 at which patents and good will were separately carried on the balance sheet in 1920, we find a tangible asset value for the common stock at the end of 1926 of $84 a share. Property account is carried at $41,061,000 with depreciation of $10,229,000 leaving net valua- tion $30,832,000. Allis Chalmers has established itself well in its various lines of trade, increasingly so in the electrical business (which now is said to contribute 40% of gross turnover of $30,000,000), and its common stock paying 6% is assuming investment character, with speculative promise found in possibility of a 7% rate from the savings in preferred stock retirement. 3 American Can Co. A grossly over-capitalized 1901 consolidation, American Can Co. put back into the property out of earnings from 1912 to 1921 the equivalent of $72 a share on the old stock (split-up six for one in [131]

Access restriction

Copyright

fullscreen: Studies in securities

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation