Word: netted
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Documents were brought into court by the truckload. But the most staggering evidence the Government produced was its formula to prove that Corporation Securities' stock was worthless, when in 1931, after announcing a net income of $8,000,000 for the preceding year, it continued to pay dividends because "the defendants were at all times keeping up representations to the public that the company was sound and the stock a good buy." Burden of proof lay in two algebraic equations which the court found chalked on a blackboard one morning. The equations...
...Harvard has definite possibilities, and there doesn't seem to be any danger of the Cadets providing another 46-0 trackmeet on Saturday. But the trouble is, how is the Varsity ever going to score against a major opponent like the Army? On the past weekend Harvard had a net gain of 29 yards against the Tigers' 333. Princeton's distance was somewhat to be expected, but the Crimson will have to show something a lot better if they are going to provide a winning score. Freddy Moseley again displayed his talents, but for the rest, its up to Casey...
...physical "net worth" of the New York Stock Exchange amounted to only $27,570,288 on Dec. 1, 1933, desite the billions of dollars of securities changed hands yearly, it was disclosed today in figures supplied by the Exchange to the Securities and Exchange Commission...
...corporation may dispose of its net profits by: 1) paying dividends; 2) building up a surplus. On the portion it distributes in dividends the Federal Government collects a stiff surtax. On the portion which it puts aside for reasonable future needs or emergencies the Government lays no tax. An obvious corporate temptation is to avoid taxation by tucking the fattest possible share of profits into surplus. Almost irresistible is this temptation if the corporation also happens to be a personal holding company...
...Government believes that a corporation has, in a given year, laid up a bigger surplus than it "reasonably" needs, simply to dodge taxes, it may punish the concern by a penalty of 25% to 35% on its net income for the year. Last week the Treasury revealed that it had levied such penalties on some 100 U. S. corporations. Prime targets on its lists were personal holding companies. Most famed was Fisher & Co.. holding company of Detroit's six Fisher brothers (automobile bodies), down for $17,199,797 for alleged evasions in 1929 and 1930. Others and penalties...