Trust Finance; a Study of the Genesis, Organization, And Management of Industrial Combinations
Trust Finance; a Study of the Genesis, Organization, And Management of Industrial Combinations
Edward Sherwood Mead
The book Trust Finance; a Study of the Genesis, Organization, And Management of Industrial Combinations was written by author Edward Sherwood Mead Here you can read free online of Trust Finance; a Study of the Genesis, Organization, And Management of Industrial Combinations book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Trust Finance; a Study of the Genesis, Organization, And Management of Industrial Combinations a good or bad book?
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On its face, however, the proposition offered by the common stock was certainly attractive. The syndicate manager will sell a stock at 40 or 50 which must pay at least 6 or even 10 per cent on its par value. The com- mon stock is the residual claimant. The preferred stock- holder, it is claimed, is no better off than before; but the common stockholder is to reap the full fruition of the great step in industrial progress which the formation of the trust represents. Here is offered a double induc...e- ment: a high rate of dividend if the stock is held, or an opportunity to sell at an advance. Moreover, the syndicate manager need not rely solely 144 TRUST FINANCE upon published statements. Competent and authorita- tive opinion was not lacking to influence the wavering and uncertain speculator. The underwriting privileges had been sold, as Judge Moore expressed it, " all over the country." Financial houses and moneyed men every- where had been let in for a share of the underwriting and had stock to sell.
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