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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. 1920 edition. Excerpt: ...the product of highly specialized technical training, keen business insight, and a wide experience. Yet decisions of policy are made infrequently. The question of whether to substitute a steam turbine for a steam engine of older type, and if so what should be the size in view of the probable future load, is a question that comes up for consideration only once in every few years. A new generator must be installed, because of an excessive, but short-time peak load. Great care and a wide knowledge of many things are required to tell whether it is best to install two smaller units or one large unit. Such questions do not present themselves often, but if a mistake is made when it comes time to decide them, considerable losses result. On the other hand, the ordinary detailed problems of day-to-day operation require constant attention, but they do not involve decisions of much importance. If the local manager buys a car of poor coal, it may make trouble temporarily, but the loss to the company is slight; if he puts in a transformer at a certain point, rather than continue the secondary circuit a few hundred yards. further, he may fail to exercise shrewd judgment, but the loss to the company is slight. the services rendered to its subsidiaries often presents difficulties. If all the securities of the subsidiary are owned by the ho ding company, then the method and the amount of compensation the parent may demand of its subsidiary is entirely a question of bookkeeping. But if there is a considerable minority ownership in the securities of the subsidiary, then it becomes a matter of importance whether the earnings of the subsidiary are brought into the holding company's treasury partly through an arbitrary service charge in which the minority...
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Product details

  • Paperback | 96 pages
  • 189 x 246 x 5mm | 186g
  • United States
  • English
  • black & white illustrations
  • 1236837231
  • 9781236837233