■»"="("'£;)•"
but it Ini becomes int' (= int +d Int), I' 1" = ^
inl'
cap' at the same I
II inaperiod of tailing intereet, InVsint-Aint, andl"=-
(lnt + Aint = lnt') '
_ ea + A ea _ e>' .
charges to meet is the fact that the new investments, and those concerns that have gone into bankruptcy or receivers' hands, come into competition with the old. These new or rejuvenated concerns are not committed to a scale of fixed charges carried over from a higher interest level; and these are therefore carrying only such interest charges as the current effective capitalization of their property will warrant, whether effective capitalization be taken to mean cost of production of the equipment, eaming-capacity of the concern, or market