Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1874 edition. Excerpt: ... account current. I am happy to observe that Mr. Superintendent Chapman, of New York has omitted it, although I think many of the other commissioners will, in the end, insist upon it. I ask that the committee be discharged. The President: There being no objection, it is so ordered. Mr. Heald: It occurs to me that we may be open to misapprehension if we permit this matter of state reports to rest where it is. The difficulty of making out the trial balances consists in the fact that we are there required to take the account from our books, and put into the report a statement of figures setting forth the market value of our securities as entered. We are required by law to state the market value of these securities, a course which necessitates an immense amount of figuring, especially if such value has changed to any considerable extent during the year. During the past year I had no difficulty in making out that statement, from the fact that our securities had not changed, but the year before, when tlie securities fluctuated in consequence of the Chicago fire, I found it impossible to make it out with any accuracy or satisfaction, and gave up the a'tempt in utter despair. Now, sir, the impression should not go out that companies have anything to conceal by their failure to make out such a statement. It should be known rather that our opposition to such a course arises solely from the impracticability--the difficulties which surround the undertaking. I rise, therefore, for the purpose of offering a resolution, that the President of the board, in conjunction with the executive committee, be requested to address a note to the different superintendents, asking that this practice may hereafter be discontinued, and setting forth our reasons for the...
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