This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 Excerpt: ...and containing a small portion of your capital/' and that it was obvious with respect to such property, "if you sell and divide the proceeds, you divide some portion of that which you have spent your capital in acquiring." "It may be represented," he added, "that that is a return of capital. All I can say is, if that ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 Excerpt: ...and containing a small portion of your capital/' and that it was obvious with respect to such property, "if you sell and divide the proceeds, you divide some portion of that which you have spent your capital in acquiring." "It may be represented," he added, "that that is a return of capital. All I can say is, if that is a return of capital, it appears to me not to be such a return of capital as is prohibited by law." He went on to point out that if a company is formed to acquire and work a property of a wasting nature, for example, a mine, a quarry, or a patent, the capital expended in acquiring the property may be regarded as sunk and gone, and that there is nothing whatever in the Act of 1862, or indeed in subsequent Acts, to prevent an excess of money, obtained by working the property over the cost of working it from being distributed among the shareholders, even though some portion of the property is sold and the capital, in some sense, is thereby diminished. Loss of Fixed Capital.--Five years later Lord Lindley again insisted upon the same distinction in Verner v. The General Commercial Trust (1894, 2 Ch. 239). Here he laid down that "if the income, in any year, arises from the consumption in that year of what may be called circulating capital, the division of such income as dividend, without replacing the capital consumed in producing it, will be a payment of dividend out of capital. Perhaps the shortest way of expressing the distinction which I am endeavouring to explain," he said, "is to state that fixed capital may be sunk and lost and yet that the excess of current receipts over current payments may be divided, but that floating or circulating capital must be kept up, as otherwise it will enter into and...
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Add this copy of The Modern Balance Sheet; An Analysis of Company to cart. $15.42, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
Add this copy of The Modern Balance Sheet; An Analysis of Company to cart. $26.58, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
