Progressive Copartnership
Progressive Copartnership
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In our eReader you can find the full English version of the book. Read Progressive Copartnership Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Progressive Copartnership
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To quickly assess the difficulty of the text, read a short excerpt:
Ordinary shares, with special claims on surplus, created in favour of the copartners of one generation, would otherwise become sources of unearned increment in the next.
The usual plan adopted is to arrange that a retiring copartner must offer his shares at par to his fellow copartners or to a trust fund, such as exists in many schemes, and which receives all copartnership dividends and distributes them to the copartners : an excellent arrangement, and one which can be controlled entirely by th...e copartners themselves. The constant relinquish- ment of shares by copartners would, of course, tend to reduce the new capital taken up, once the scheme had become established, and might conceivably result in reduction of capital.
Such complete redemption of the shares issued to copartners is not entirely excellent. We have created investors, only to wipe them out of existence after a period. It is a better plan, if possible, to convert copartners' ordinary shares, on redemption, into preference shares, thus retaining the capital in the business, but with relinquishment of ordinary shareholders' rights, and in a form readily liquidated by the usual G 81 PROGRESSIVE COPARTNERSHIP methods of sale and transfer, if and when re- quired.
What to read after Progressive Copartnership?
You can find similar books in the "Read Also" column, or choose other free books by Ernest Walls to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Ordinary shares, with special claims on surplus, created in favour of the copartners of one generation, would otherwise become sources of unearned increment in the next.
The usual plan adopted is to arrange that a retiring copartner must offer his shares at par to his fellow copartners or to a trust fund, such as exists in many schemes, and which receives all copartnership dividends and distributes them to the copartners : an excellent arrangement, and one which can be controlled entirely by th...e copartners themselves. The constant relinquish- ment of shares by copartners would, of course, tend to reduce the new capital taken up, once the scheme had become established, and might conceivably result in reduction of capital.
Such complete redemption of the shares issued to copartners is not entirely excellent. We have created investors, only to wipe them out of existence after a period. It is a better plan, if possible, to convert copartners' ordinary shares, on redemption, into preference shares, thus retaining the capital in the business, but with relinquishment of ordinary shareholders' rights, and in a form readily liquidated by the usual G 81 PROGRESSIVE COPARTNERSHIP methods of sale and transfer, if and when re- quired.
What to read after Progressive Copartnership?
You can find similar books in the "Read Also" column, or choose other free books by Ernest Walls to read onlineMoreLess
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