Word: netted
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...fitting tribute to its late President, A. H. Smith. Last year proved to be the most successful year in the long history of the road, not only in respect to earnings, but also volume of traffic, improvements and acquisition of the stock of subsidiary companies. Net income for 1923 was $45,339,426, -an increase of more than 120% over the net of $20,635,186 for the year preceding. Last year, after allowing for funded debt and sinking fund, earnings on each common share were $16.47, compared with $7.66 in 1922. Operating expenses last year increased...
...capitalization of the company consists of only 5,000 shares of 500 francs each, or 2,500,000 altogether. Net profits, however, have recently been running close of 10,000,000 francs and in the Paris Bourse the shares are quoted at 23,600, or over 43 times their nominal value. According to the company's reports, sales have been large throughout northern Europe and in the Far East. Nothing is said of sales...
...rates fixed uniformly. Accordingly, it pays them to secure freight at any rate greater than the actual cost of moving the freight, even if the rate does not pay a pro-rated share of the fixed charge. By such a procedure the railways are able to increase their net revenue. That is what the railroads now do in many cases. The railways have applied for a further reduction, so as to compete with the seaborne trade through the Panama Canal. But there are objectors. Coast ports do not object; they have railway and water carriers competing and cutting rates...
...been readily avoided. All the stock in the Ford Motor Co. is owned by Henry Ford and his son. Instead of declaring dividends on it in proportion to what the earnings would justify-in which case their incomes would be heavily levied upon by the income tax collector-net income was almost entirely plowed back into the property each year, or used to acquire new plants and establishments of all sorts. On corporate net income the tax rate was only 12½%, while the surtax rate would have been 50% on both the Fords' incomes had these earnings been...
...road's gross revenue was $169,000,000 against $156,000,000 in 1922. Thus, although expenses last year were $134,000,000 instead of $129,000,000 as in 1922, net operating income was $20,000,000 instead of $13,000,000 and a net income of $207,686 was shown in place of the previous year's deficit...