Author: California State Tax Commission

Publisher: Forgotten Books

Published: 2018-01-25

Total Pages: 24

ISBN-13: 9780483975521

Excerpt from Stock and Bond Valuation of Public Utilities in California First, ascertaining the aggregate value of the property of each company by multiplying the number of shares of stock and the number of the bonds, issued and outstanding, by the market values of the different securities, as ascertained from quotations upon the stock exchanges, or from sales, or from offers to purchase the securities. When data concerning actual sales, or offers to purchase, were not obtainable the value of a given stock or bond was ascertained or fixed by capitalizing the dividends, or profits, which the stock was earning, or, in the cases of bonds, the interest being earned; or, more generally stated, by reference to the earnings of the company, due regard being had to the safety of the security as an investment. As this process gives the value of all the holdings of the company, including nonoperative property otherwise taxed, investments and the like not covered by the taxes on the gross receipts, it was necessary. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.