The Mining Magazine, Vol. 16

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Excerpt from The Mining Magazine, Vol. 16: January, 1917Last month we referred to the endeavours of the controllers of mining companies to se cure a less strangling application of the excess profits tax to their operations. 'their argu ment rightly is that mining risks demand a comparatively large return on money invested, and that ample allowance should be made for the redemption of capital in the case of a wast ing asset such as a mine. With regard to this redemption of capital, or amortization as it is nowadays called, we said that directors and shareholders have only themselves to thank for their present unenviable position, for very seldom have the companies applied profits for writing down the property account in the bal ance sheet. We promised that at another time we would say more on this point of amor tization, so we return to the subject now.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis 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.