Capitalization

“ The essential characteristic of a crisis is the forcible and sudden movement of readjustment in the mistaken capitalization of productive agents. Capitalization runs through all industry. The value of everything that lasts for more than a moment is built in part upon incomes that are not actual, but expectative, whose amount, therefore, is a matter of guesswork, or "speculation." ”

“ True enough, no direct relation between rates and capitalization exists; but that a positive incentive to higher charges in general may be found in the need of supporting a large capitalization seems reasonably clear in the light of experience. ”

“ The custom is to adjust the value of the assets to harmonize with the capitalization rather than vice versa. Such a policy is to be deprecated.
The cost of reproducing the property as a basis of capitalization is as yet only seriously considered in theory. It is very doubtful if the method will ever be used in actual practice.
Earnings, past or potential, perhaps form the basis for capitalization most frequently used. Investment value closely corresponds to the rate earned and the degree of permanency of the earning power. To secure an income is the motive of all investment. ”

“ If the capitalization is reasonable, there must be some way to demonstrate the fact, and it seems as if a properly made physical valuation, with due allowance for the intangible values, is at least a step in the right direction. ”

“ In capitalization the English are a good deal more conservative than we are. They invariably capitalize such terms as Government, Prime Minister and Society, when used as proper nouns; they capitalize Press, Pulpit, Bar, etc., almost as often. ”

“ But further, the capitalization theory, as heretofore formulated, like the doctrines of supply and demand and cost of production, assumes money, and a fixed absolute value of money. This assumption must be made if we are to be able to predict, on the basis of the capitalization theory, that a given annual income, at a given rate of discount, will give a specified capital value. ”

“ But since the earlier capitalization commonly, in the normal case, comes out of a period of business prosperity, the point of inquiry is as to the ground and method of this effective capitalization of collateral during the period of prosperity that goes before a crisis, and this, in turn, involves the question of the nature and causes of a period of prosperity. ”

“ The discrepancy which discourages business men is a discrepancy between that nominal capitalization which they have set their hearts upon through habituation in the immediate past and that actual capitalizable value of their property which its current earning-capacity will warrant. ”

“ All capital which is put on the market is in this way subjected to an interminable process of valuation and revaluation - i.e. a capitalization and recapitalization - on the basis of its presumptive earning-capacity, whereby it all assumes more or less of a character of intangibility. ”

“ It would be theoretically possible, of course, to arrive at the total value of the business not by adding going-concern value obtained by capitalization of excess income to a valuation of the physical property obtained in some other way, but by capitalization of all income. ”

“ Under the exigencies of the quest of profits, as conditioned by the larger industry and the more sweeping business organization of the last few decades, the question of capital in business has increasingly become a question of capitalization on the basis of earning-capacity, rather than a question of the magnitude of the industrial plant or the cost of production of the appliances of industry. ”

“ Family names, capitalization of, 24. “Fathers”: capitalization of, 24; use of compounds with, 47. “Federal,” capitalization of, 25. “Fellow,” compounds of, 47. Figures: rules for use of, 31–33; use of apostrophe to indicate omission of, 19; used to mark divisions in enumerations, to be placed in parentheses, 18; percentage, figures always to be used, 31; use of, in statistics, 32; spacing of, 59; spacing between, and $, £, 60. “Fix,” correct use of, 105. Foreign languages: capitalization of titles, as von, le, da, etc., 25–26; spelling of words ending in re (French) , 36 ”

“ We shall discuss the capitalization theory as we find it, assuming that, as a matter of fact, the difference between loans of 20 years and loans of 35 years, or in perpetuity, of equal quality in other respects, may be abstracted from, with safety. ”

“ A discrepancy between accepted capitalization and current earning-capacity, similar to the discrepancy discussed above but of a progressive character, arises under modern conditions apart from a fall in the rate of interest. ”

“ It is out of these variations in capitalization that the gains of the traffic arise, and it is also through the means of these variations of capitalization that the business men engaged in this higher finance are enabled to control the fortunes of the corporations and to effect their strategic work of coalition and reorganization of business enterprises. ”

“ The conflict between the capitalization theory and the quantity theory may be more simply stated. Assume that the prices of consumers' goods and services rise, quantity of money and volume of exchanges remaining unchanged. ”

“ Section, Rule, clause; added hyphenation after the section/rule numbers which have alphabets suffixed to them; applied indentation of quoted extracts; removed full stops or word “No.”; and given full forms of abbreviations to enhance readability and clarity. In addition to the above, capitalization and italicization is also made wherever necessary in the raw text; and punctuation, articles, spellings and compound words are also checked and corrected, if required, in the original text. ”

“ It is impossible to give rules that will cover every conceivable problem in capitalization; but by considering the purpose to be served and the underlying principles, it is possible to attain a considerable degree of uniformity. ”

“ What are sold in a case such as capitalization, involving an estimate of time-value, are present goods or gratifications; what are bought are future gratifications, or indirect agents which stand for, typify, or make possible, future gratifications. ”

“ It is true, as has been shown above, that the mere putting of an estimate on a durable good such as land involves the process of capitalization, which in turn implies a comparison of the values of the rents expected at different periods. Diminishing returns in the use of agents involves a loss of time to secure the usufructs emerging. ”

“ Capitalization of earnings will not, because that implies continuance of earnings, and a continuance of earnings rests upon a franchise to operate the water-works. The original cost of construction cannot control, for original cost and present value are not equivalent terms. ”

“ In this way it may be seen that an earning power not known to bidders in the market does not enter into capitalization; a fictitious earning power, however, is capitalized so long as the investors continue to be deceived. ”

“ When, as has been frequently the case of late years, in addition to this cash value of the plant and the cash itself which may have been paid in, large sums of stock are issued also for properties which may be in themselves highly over-valued, and for the services of the promoter, the financier and others, we can see that the capitalization must be far above what may ordinarily be considered a paying basis. ”

“ The consequences of inaccuracy are reduced by confining the capitalization to excess income, but of course it is a question of fact whether future excess income can be predicted with certainty sufficient to persuade a purchaser of the business o pay for its capitalized value. ”

“ Punctuation and capitalization are very necessary matters in the art of letter-writing, but in these days of common schools, and all but compulsory education, it is to be supposed that some knowledge of these important facts will have been gained. ”

“ Men differ so radically in their preferences as to spelling, punctuation, capitalization, and other typographical matters, that it is impracticable to frame a set of inflexible rules for printing. This Handbook merely sets forth the general custom of one large printing-office,—‍a custom which is the result of many years of widely varying experience. ”

“ These large amounts of stock that are paid to the promoter and the financier for the purpose of bringing about the organization of a large trust, lead, of course, to what is called over-capitalization. What the proper basis of capitalization for a manufacturing industry should be, is a matter that cannot perhaps easily be determined by a definite The Basis of Capitalization.principle which shall be applicable in every case. ”

“ Fixed liabilities, as distinguished from current, are those issued distinctively for the purpose of raising capital. Due to insufficient original capitalization, funds may be needed for one or more of many purposes. ”

“ Sometimes the bolt comes out of the clear sky with prices at a maximum, sometimes it is only the last stage of a period of liquidation with progressively lower prices. But however unpredictable and seemingly inscrutable the actual course of events, the fundamental explanation is always the necessary readjustment of capitalization to actual earning capacity. ”

“ Compositors, as a rule, follow style as regards capitalization and like details, no matter how the copy is marked, unless the specific direction “follow copy” appears in the margin. Proofreaders, too, are instructed to observe style. It is always desirable, however, that copy when sent to the printer should be correct in every detail. The linotype177 operator loses time if he is compelled to read ahead to supply a missing word. Mistakes that get into type are marked by the proofreaders and corrected, but all this takes time and increases the cost of composition. ”

“ Still, we're not taking all this trouble just for our health, and we can use money just as well as anybody else. And the way to get the money, as I'm now trying to drive into your heads for about the tenth time, is to launch our mine with a big capitalization and a low par. ”

“ In the end these difficulties, and in fact most of our philosophic ills, may be traced back to the prejudice that experience or knowing is a process in which the objects concerned do not participate and have no share. This assumption commits us at once to various corollaries and thus breeds a set of abstractions that pass themselves off as entities and add themselves to the world of our experience as demonstrable facts. In philosophy, as in the financial world, there is a constant temptation to do business on a basis of fictitious capitalization. ”

“ Abstract ideas: capitalization of personified, 23. Accents: list of symbols, 2; list of accented words, 36–37; retention of, in foreign words used in English, 36–37. “Accept,” correct use of, 101. Acts, juridical, capitalization of, 27. A.D. (anno Domini) : set in small caps, 30; spacing of, 59. “Addenda,” plural of addendum, 109. Address (of letters) the: business, formal, and informal, 116. Adjectival nouns, capitalization of, 24. Adjectives: use of comma with, 4, 5, 8; capitalization of, in titles of books and essays, 26; capitalization, with proper names, 26; compound, 46 ”

“ Nouns: capitalization of geographical, simple and compounded, 22; capitalization of, followed by capitalized roman numeral, 28; hyphenization of, standing in objective relation to each other, 46–47; formation of possessive case of common and proper, 18–19; plural of polysyllabic proper ending in sibilant, how formed, 19; verbal, ending in -ing, distinguished from participles, 106. “Nowhere near,” vulgarism for not nearly, 108. Number: pronouns must agree with their antecedents, 108; of nouns and verbs must agree, 108. Numbers: use of comma with, 7 ”

“ Pronouns: used with noun for emphasis, comma omitted, 8; referring to Deity, capitalization of, 21. Pronunciation, correct, influence of, in division of words, 52–54. Proper names: capitalization, of, 22–24; abbreviation of, 66; derivatives from, familiarly used, not capitalized, 24. Proper nouns: formation of possessive, 36. “Propose,” distinguished from purpose, 109. Prox., not used, 65. Psalms: capitalization of titles of, 21; capitalization of, 22. “Pseudo,” compounds with, 51. Publications: use of colon in titles of literary references, 11 ”

“ Gilbert that the manuscript as sent to him was neither capitalized nor punctuated, and that the capitalization and punctuation in the first edition was done by him. This statement, however, can only be true in part, as an examination of the printer's manuscript will prove; for that manuscript is very well capitalized and in the main in the handwriting of Oliver Cowdery. Mr. ”

“ Side-heads: capitalization of, 29; italicizing of, 62. Signatures, omission of period after, 12; italicizing of, 62; general rules for, 122. “Since,” correct use of, 111. -sion and -tion, spelling of words terminating in, 39–40. “Sister,” compounds with, 47. “Size up,” vulgarism for estimate, 111. Small capitals: how indicated in MS., 30; rules for, 30. “So,” correct use of, 111. Social organizations, capitalization of, 25. Solar system, capitalization of popular names of, 23. “Some,” correct use of, 111. “Some one,” not a compound word, 51 “Some place,” written somewhere, 111. ”

“ He indulges in occasional colloquialisms; in popular dogmas that wastes and profits piled up excessive capitalizations, which survived bankrupt liquidations and perpetuated high rates; in the modern fiction that Dr. ”

“ The purpose of capitals is to emphasize the words in which they are employed. With the exception of the cases of the words I and O, which are capitalized for typographical reasons, this idea of calling special attention to a word, or words, for one reason or another will be found to be at the bottom of the variations in usage in different printing offices and by different writers. The same tendency is observable here which is so evident in style and in punctuation. ”