Word: netted
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...Disclosure of their non-taxability before the Senate Banking & Currency Committee (see p. 51) started not only a hot dither of excitement in the Press (see p. 38). but also a tax reform movement by a startled Congress. Plugging the leak in the law promised to net the Treasury millions of dollars of additional revenue, spread the burden of Federal taxation more evenly over the land...
...revaluation of assets which showed a capital loss of $21,000,000. By apportioning this among the partners, they were all legally able to show the Treasury that their income was less than their capital losses and so they owed the Government nothing. Because capital losses in excess of net income could then be carried over two calendar years for the same purpose.† Mr. Gilbert was admitted not as of Dec. 31, 1930 but as of Jan. 2, 1931 which gave the House of Morgan an additional year (through 1933) in which to apply any unused part of their...
Click. Union Pacific's net operating income for April totaled $797,169, which was a quarter-million dollars more than April 1932, and $131,577 more than March this year...
Deals. But after the partners have invested their depositors' money in safe and liquid securities, they have still their capital (net worth) which they can employ in deals. The capital of the House of Morgan amounts to less than $100,000,000 (it passed that mark in 1929, was $119,000,000 at the close of that year, stood at $53,000,000 at the close of 1932). Morgan deals are of two kinds...
...many firms such a profit is not enough over a period of years to pay for the much greater losses which are sure to come sometime when an issue goes sour. Morgan & Co.'s net profits on bonds are due to having fewer losses than most houses. In the last 14 years, Morgan & Co. has headed syndicates which distributed $6,000,000,000 worth of bonds. Of these $2,000,000,000 have already been repaid. Forty percent of all their foreign bonds have been repaid. Of the balance 30% were selling, last week, above the offering price. Only...