Word: write-off
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Italics have to be put on Chrysler earnings because of its Spartan depreciation policy. In the first half of 1937, on sales of $409,688,254, write-off to depreciation was $9.952,822. In the first half of 1939, on sales down to $342,788,293, Chrysler's write-off was upped even further to $11,311,840. Result: its half-year earnings amount to 11.5% of the assets on its books. Further result: a clean capital structure, written-off assets, low costs-all of which promise that if business gets better Chrysler profits will pyramid, if it gets...
...that Mr. Willkie, speaking for himself, was willing to agree, for the future at least, to rate structures based on the President's favorite "prudent investment" basis, as opposed to the prevalent utility practice of weighting valuations of plants and equipment with replacement costs. He was willing to write-off all past write-ups discovered by the Federal Trade Commission in its six-year power investigation. As for Government competition, all he asked was a fair break-such things as the use of the same accounting method for public power projects as the Federal Power Commission prescribes for private...
...bank has liquidated all but $11,800,000, at a loss of $7,000,000. "It may be wise," declared Chairman Baker, "to continue further the policy of liquidating German credits . . . even though such liquidation occasions further loss." More than $5,000,000 was used this year for write-off and reserves and Mr. Baker proposed to draw on surplus and undivided profits for an additional...
Certainly, few more inspired alibis with which to explain to stockholders an eventually unavoidable write-off were ever compounded than this tale of Capital on strike. Sabotage may have sped the demise, but it was a slower poison which made the case of Hopewell hopeless. See if you can find a rayon chemist who will take his tongue out of his cheek and deny...
...February sales were running 150% ahead of last year. In last week's annual report, a model of frankness, the new management asked the stockholders at the annual meeting in April to authorize a reduction in par value of the stock so that another write-off of $2,400,000 could be taken. Stockholders were also asked to sanction a new name for their company-Stewart-Warner-Alemite Corp...