Word: audits
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...lowest tricks in the newspaper business-padding circulation figures. The scene was the trial, for fraud, of four officials of Scripps-Howard's Youngstown (Ohio) Telegram. Facts: In October 1931, the Telegram declared its average circulation for the previous six months to be 35,610. Audit Bureau of Circulation investigated, found the figure too high. The Telegram made its own investigation, removed the circulation manager, published in December an amended figure: 34,698. Prosecutor Ray L. Thomas, oldtime enemy of the Telegram whom the paper had tried to have ousted, got indictments against the officials, charging that they well...
...audit of Middle West did not list its assets at market value, obscuring the company's actual condition. The receivers last week seemed to feel that better conditions and good management might enable it to pull through, with the possible lopping off of the eastern properties. Grover C. Neff, chief operating executive of Wisconsin Power & Light Co., was made president of the company last week. The report showed that Middle West indulged in huge security operations, chiefly attempts to support its own stock. It made large gifts to subsidiaries to enable them to "write down" losses, also loaned them funds...
...traditional and legalized forms of petty graft practiced by Senators and Representatives at taxpayers' expense. To initiate voters into this Congressional mystery William Pickett Helm, oldtime syndicate writer, has written Washington Swindle Sheet published this week by Albert & Charles Boni of Manhattan. Taking as his text the official audit of the Senate's miscellaneous outlay for fiscal 1931, Mr. Helm shows how Senators pad their pockets...
...reported that the three operating companies will have to write off 9% of their assets. This $90,000,000 write-down would reduce their combined surplus to $7,200,000. Bankers who expect to handle the $70,000,000 financing necessary this summer anxiously awaited completion of a thorough audit...
This final Kreuger chapter started in June 1931, when he sold control of L. M. Ericsson Telephone Co. to I. T. & T. He was given a down payment of $11,000,000 and promised some I. T. & T. stock as soon as an audit was made. This audit was merely a routine matter so far as I. T. & T. was concerned...