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

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APPENDIX 5723 [NVESTMENTS The applicant shall publish with the annual report a statement showing ‘he value of securities held either directly or indirectly at the close of each period covered by the report. Valuation of securities for this state- ment shall be based upon market price of all securities listed on recognized stock exchanges and upon fair appraisal of other securities. There must be contained in the report a complete list of all of the holdings of the company showing names and quantities with the proviso that no more than an amount of ten (10%) per cent of the company’s aggregate capital and surplus or ten (10%) per cent of the cost of securities held, whichever may be less, may be covered under a heading “Miscellaneous Securities,” pro- vided that such securities have not been held for more than one year. This list should disclose the aggregate cost of the securities and their aggregate market value, and in the case of holdings not listed on the New York Stock Exchange or the New York Curb Market, the price at which each such holding has been inventoried for the purpose of determining aggregate market value must be clearly set forth with such supporting information as may seem desirable. AUDITORS CERTIFICATE There must be appended to all financial statements and inventories re- quired by the Committee, the certificate of a public accountant, qualified under the laws of some state or country, which certificate shall contain a statement that no one of the items carried under the term “Miscellaneous” in the list of Investments has been held for more than one vear. SUBSIDIARIES In case the investment trust holds, either directly or indirectly, a majority interest in the voting stock of another company at the time of any earnings report, such other company shall be considered as a subsidiary. Each balance sheet and earnings statement shall be presented in one of the following forms: I. A fully consolidated balance sheet and earnings statement, prepared in such manner as to include each subsidiary, as defined above, and also ro show any minority equities in both earnings and assets. Securities owned by each subsidiary shall be presented separately, as indicated under the requirement entitled “Investments.” 2. Separate earnings statements and balance sheets for each subsidiary, together with a separate tabulation of the securities of such subsidiary, in accordance with the requirements entitled “Balance Sheet” and “Invest- ments.” In case this aiternative is adopted the valuation, assigned upon applicant’s Balance Sheet to its equity in such subsidiary or subsidiaries should be shown separately and should not be greater than the cost thereof. In any statement as to the market or appraised value of such subsidiary company securities, as carried upon the parent company’s books, the appraised value should not be greater than the book value of such equity as deter- mined from the books of such subsidiary, valuing the securities held by ‘he latter at not more than cost for this purpose.

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