The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter V. Plowed-back earnings

Collection:: Economics Books

76 ~~ The Stock Market Crash—dAnd After rations that are either inactive or have no net in- come. The lowest percentage of firms reporting net income was registered in 1921, when 48.05 per cent were so conditioned. The highest percentage oc- curring in 1917, was 66.04. ‘“No-net-income” cor- porations averaged lowest in 1917 and highest in 1921, with a percentage of 34.91 in 1927; inactive corporations for that year were 10.39 per cent of the total. In addition to these data, a new light is thrown on the question of proportion of no-profit corporations, as well as upon that of the real profits of all cor- porations by the researches of Carl Snyder, of the Federal Reserve Bank of New York. Mr. Snyder calculates that the average annual net profits of all corporations, year in and year out, amount to about IO per cent on gross income, and that they are not to be reckoned by returns that show “no net profits” for tax purposes. Mr. Snyder finds that of 455,000 corporations some two to three thousand do from 70 per cent to 90 per cent of the nation’s business. Fully three quarters of these reporting do a small business of $200 a week or less. These might, as indeed, a large part of them do, absorb their real net profits in salaries of officials. Such is the case with about half of the reporting corporations, as estimated by Mr. Snyder. In addi- tion, many forms of corporations, such as incorpo- rated estates, make officials of their beneficiaries who absorb profits as salaries.

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