Word: write-off
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...industrialists they will be the class favored in opposition to the financial, reatier, and labor groups. Labor can be bought off by a meaningless advisory board which can be proclaimed in glory and stified at leisure, and the rentier class can be taken in by the prospect of no write-off of bad investment. Then the government entrepreneurs can proceed to scotch both of them by the invisible, intangible method of raising prices by restriction of production, allowing inefficient industries through tariffs...
...plus and $6,600,000 in undivided profits and reserves - a total of $106,600,000. The anticipated equity after the reorganization is $25,000,000 in common stock capital and $25,000,000 in surplus, undivided profits and reserves - a total of $50.000,000, indicating a write-off of $56,600,000. Thus, adding $40,000,000 written off a year ago when Continental Illinois be came a national bank and some $10,000,000 written off earlier, the bank's total write-offs will exceed...
...Pecora: Was there a write-off of securities? . . . Did you sign for Jan. 1 and Jan. 2? ... Who signed the 1930 income tax returns? . . . Didn't examiners go over them...
...which gave the lie to the headlines. Example: all loans made to officers were secured by collateral which was ample at the time. None of the officers have been forgiven their debts. They still owe the money and their collateral is still pledged to the National City Company. The "write-off" consisted merely in getting these frozen loans off the books of the bank and on to the books of the security company. And this was done in the interest of depositors in accordance with a vigorous and highly successful attempt to make the bank safe for depositors...
Last week the following were news: Charles Wilbur Miller was not re-elected president of Davison Chemical Co. When the Company issued its statement for the year ended June 30, much comment was caused by the following write-off: "Provision for loss in realization of advances made to president of company and interest thereon-$705, 284.32."† Elected in Mr. Miller's place was Henry E. Treide, executive vice president of the company for a year, a director of Baltimore Trust Co. and of Baltimore Mail Steamship Co., which he helped form...