Graphic Methods for Presenting Facts
Up to 1908, curve 9 follows curve 8 very closely, indicating that the new construction was largely paid out of earnings, and not capitalized. Since 1907, there has been a tendency to finance such additions by the sale of bonds. This tendency, if not carried too far, is not open to criticism. One may, therefore, answer the second question in the
CORPORATION FINANCIAL REPORTS
Dollars lOO. OOO, OOO
90, OOO, OOO
SO, OOO, OOO
70, OOO, OOO
60, OOO, OOO
50, OOO, OOO
40, OOO, OOO
30, OOO, OOO
20, OOO, OOO
lO, OOO, OOO
'02 '03 '04 '05 '06 '07 '08 '09 'lO 'II '12
Fig. 226. The Maintenance of Property by the United States Steel Corporation
Curve 7. Depreciation, repairs, etc.
Curve 8. Expenditure for new construction
Curve 9. Appropriation from surplus earnings for construction and betterments
No more lines or figures are placed on this chart than are really necessary. The intention was to make the chart just as simple and clear as possible. Note the large quantities expressed by the numbers in the vertical scale, yet the wide spacing of the groups of three figures makes interpretation very easy
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