Railroad Capitalization; a Study of the Principles of Regulation of Railroad Securities
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In our eReader you can find the full English version of the book. Read Railroad Capitalization; a Study of the Principles of Regulation of Railroad Securities 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 Railroad Capitalization; a Study of the Principles of Regulation of Railroad Securities
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To quickly assess the difficulty of the text, read a short excerpt:
In the theory of the law, that is just what it is supposed to represent; in practice, it represents nothing of the kind.
This divergence between theory and practice is due in part to the lax corporation laws of several states ; but it is also due to another cause which cannot be removed ; namely, to the impossibility of issuing stock always at par regardless of the conditions of the market.
Since, therefore, par value cannot serve its intended pur- pose of indicating the actual capital, it may ...better 'be re- moved instead of being allowed to remain as a source of vania (common and preference shares without par value). At least two public utility holding companies, incorporated in New York, have issued common shares without par value : the Western Power Corp. (of Cali- fornia) and the Interboro Consolidated Corp., a company holding the securities of the New York City railway companies (see p. 103, note I, supra). A number of volimtary associations, organized under the Massachusetts law to hold the securities of public utility companies, have issued participation shares without par value: e.
What to read after Railroad Capitalization; a Study of the Principles of Regulation of Railroad Securities?
You can find similar books in the "Read Also" column, or choose other free books by James Cummings Bonbright to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In the theory of the law, that is just what it is supposed to represent; in practice, it represents nothing of the kind.
This divergence between theory and practice is due in part to the lax corporation laws of several states ; but it is also due to another cause which cannot be removed ; namely, to the impossibility of issuing stock always at par regardless of the conditions of the market.
Since, therefore, par value cannot serve its intended pur- pose of indicating the actual capital, it may ...better 'be re- moved instead of being allowed to remain as a source of vania (common and preference shares without par value). At least two public utility holding companies, incorporated in New York, have issued common shares without par value : the Western Power Corp. (of Cali- fornia) and the Interboro Consolidated Corp., a company holding the securities of the New York City railway companies (see p. 103, note I, supra). A number of volimtary associations, organized under the Massachusetts law to hold the securities of public utility companies, have issued participation shares without par value: e.
What to read after Railroad Capitalization; a Study of the Principles of Regulation of Railroad Securities?
You can find similar books in the "Read Also" column, or choose other free books by James Cummings Bonbright to read onlineMoreLess
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