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Accountants' Index (Book).

T. H. Sanders
The Accounting Review 1932 7(4), 310-310
Reviews the book "Accountants' Index-Third Supplement: A Bibliography of Accounting Literature, January 1928 -December 1981."

WHAT OF THE APPRAISER?

Lyle H. Olson
The Accounting Review 1932 7(3), 207-213
Abstract Modern business methods and requirements resulting from the complex and diversified properties comprising the fixed assets of large corporations, have developed appraisal organizations to serve in broader geographical areas, for larger units and groups of properties, with greater responsibility, authority and public recognition, and to supplement the service of the individual specialist with the broader experience, coordinated effort, and uniform principles, possible from large coöperative organizations. The investment in the properties may be measured on the basis of the original investment representing the actual expenditures made at the time properties were acquired, constructed or equipped, an average investment representing what the property would have cost at prices at the given time or over an average period of years that may be estimated for the purpose of computation and the normal investment represented by the cost of reproduction as of a specified date. In order to have a basis for uniform measurements, there must be a fixed standard. This fixed standard is the cost of reproduction new. The cost of reproduction new represents a determinable fact that can be applied consistently and effectively to all properties.

...THE PUBLIC UTILITY HOLDING COMPANY...

The Accounting Review 1932 7(4), 301-305
Abstract Two decades ago a public utility investment holding company was established in Chicago under the laws of the State of Delaware with an initial issued capital of $12,000,000. The company had acquired a controlling interest in 54 major public utility holding and operating companies in many sections of the United States and Canada, and had invested heavily in others with which affiliation existed through allied managements. In September, 1929, the company went through a complete recapitalization, during the process of which 4,777,270 new shares of its common stock were sold to the public at $20 a share, while 8,700,720 of the new common shares were issued in exchange for a corresponding amount of old common which had a paid-in value not in excess of $10 a share. During 1980 and 1981 certain loans were made to subsidiary companies for the purpose of enabling them to meet their dividend and interest payments. In this manner the company loaned money and immediately retrieved it as income.