The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

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

572 APPENDIX holders at least fifteen days in advance of the annual meeting of the invest- ment trust. The statement shall show separately gross earnings, if any, under at least the following classifications : [nterest Dividends Profit on sale of securities Profit in syndicate participations Transfers from reserves previously created, if any Miscellaneous. Only actual realized earnings shall be shown in the income account or shall be reflected in the balance sheet figures. In case the item “Miscellaneous Earnings” appears to the Committee to require explanation, such item must be further classified as to origin. The Income Account shall include all revenue, as well as all losses, from whatever source derived. It shall reflect in the aggregate a profit or loss upon each and every completed transaction consummated by a purchase and sale of securities. A technical short sale against a long position must not be used for the purpose of considering any transaction as incomplete. Stock dividends must not be considered as income. The Income Account shall include no profits resulting from participation in a syndicate, offering securities to the public, until such syndicate is closed. If the applicant enters into any other operations in account with others, the profit or loss at the date of each published financial statement must be reflected therein. As a footnote to the Income Account there shall be a clear statement of the increase or decrease during the current year of the amount by which the market value of the securities held exceeds or is less than their book value. If reserves against possible losses are set aside out of profits, the Income Account must show the amount so appropriated during the current accounting period, and the accrued reserves to date against losses shall also be shown in the balance sheet. Expenses and deductions must be reported in such reasonable detail as the Committee may determine, including showing separately, at least: Interest paid and accrued Taxes paid and accrued Transfers to reserves, if any. The statement of surplus shall show the amount carried forward as surplus from the immediately preceding period and indicate in detail all additions thereto and deductions therefrom. BALANCE SHEET A comprehensive and detailed balance sheet shall be prepared and pub- lished within thirty days after the close of each year. Such balance sheet shall also be submitted to stockholders at least fifteen days in advance of the annual meeting of the investment trust. The valuation of securities held must be shown upon the balance sheet at cost, summarized in reasonable detail. There must be appended to each balance sheet a footnote showing the aggregate cost of all securities owned, their aggregate current value, and the difference.

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