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This article discusses the use of realization when referring to income or profits and the owners' residual equity section of a balance sheet. This paper argues that the use of realized in connection with income is a misapplication of the realization idea. Deceased estates and other trusts were distinguished from other investors. The object of the paper has been to show that, by removing references to realization of income, income determination rules may be made less complex. If they are made less complex and more consistent, the story told in the income statement will be of greater and more direct use to investors and others, and the survival of the income statement may be confidently expected.

The article presents the commentary on the methodology and results of the report "Further Tests of the Validity of the Industry Approach to Investment Analysis," by Milford S. Tysseland, included within the issue. The author discusses the significant implications of Tysseland's conclusions and the legitimacy of his questioning the value of industrial groupings reporting, however he also challenges Tysseland's methodology, suggesting it is not accurate.

Comments on the article by David Mermelstein concerning large industrial corporations and asset shares. Analysis of the effect of merger activity or antitrust policy; Significance of mobility changes in the organization; Relationship between long-run and short-run mobility changes; Relation between overall mobility and levels of aggregate concentration.

The paper describes the findings of research into the structure of shipping conference tariffs, that is, the general factors which account for the differences between rates on commodities in a tariff. The results support the contention that the actions of shipper organizations can be important determinants of the structure. This is to be expected because of the imperfect nature of the liner market and the influence which may be exerted by "purchasers associations." The practices of the conferences have been described frequently, but the bases on which the conferences have set rates have remained obscure. 2. The lack of determinateness about the bases for rates is surprising. Certainly, very many factors may affect the level of individual rates, but it is likely that only a limited number of these factors are generally important. If this is the case it seems reasonable to expect that these general factors would be evident in the relationship between the rates in a tariff. This expectation is enhanced by the centralized nature of the rate making process. On most trade routes conferences have dealt with shippers who have been unorganized. It is only relatively recently that shippers have been organized into associations or shippers' councils. 3. Consequently, the structure of conference tariffs has been determined essentially by the conferences acting as discriminatory monopolists.

A number of abstracts are presented for articles pertaining to the field of marketing. They include "The "Burden of the Debt" and the National Income," by Evsey D. Donmar, "Cartels, Combinations and the Public Interest" and "The Place of Gestalt Theory in the Dynamics of Demand," by Elizabeth E. Hoyt.

The article presents an outline of the proceedings of the semi-annual meeting of the American Antiquarian Society held at the Club of Odd Volumes in Boston, Massachusetts on April 20, 1949. A list of presiding members is included. The results of society elections are given. The papers presented at the meeting are also listed, including "The Spermaceti Trust, 1761-1775," "John Frampton, Elizabethan Merchant and Man of Letters," and "New Light on 'Publick Occurrences,' America's First Newspaper."

The article presents the provisions of the anti-trust act and the trade-commission act adopted by the U.S. Congress in 1914. These acts are tagged as administration measures. Both are limited to fields over which the federal government has jurisdiction. Except for certain provisions on national banks, these laws deal exclusively with interstate and foreign commerce. And three main points are presented in which the new prohibitions and definitions of unlawful practices in the two acts are classified.

Focuses on the history and methods of operation of certain industrial combinations and trusts in the U.S. Features of an industrial organization; Issue on capital stocks; Establishment of trade within a business.

Presents the brief survey of the output of trust literature. Critical estimate of the views advanced concerning the most important theoretical problems involved in the study of industrial consolidation; Discussion of monopoly problems; Effect of trust on prices.

The article discusses statutes prohibiting industrial combinations and trusts in the U.S. The federal act of 1890 commonly known as the Sherman Anti-trust Law has served as model for most of the laws of several states. Twenty-seven states and territories have passed such laws which lead to the conclusion that the people have decided that great combinations of capital are prejudicial to public welfare. Several cases under the anti-trust statutes are presented. Since the decisions in these cases, a more stringent statute has been enacted which the courts have not yet rendered an opinion on.