The Statist; A Journal of Practical Finance and Trade Volume 23

The Statist; A Journal of Practical Finance and Trade Volume 23

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1889 edition. Excerpt: ...Now, if applicants for shares in the Promoted Company knew that the Unblushing Syndicate (Limited) was really a mask for a notorious promoter of bubblecompanies, and that thesyndicate affair had acquired the business from V. K. for 85,000, they would not be disposed to subscribe. Any fair-dealing individual promoter would not damage his reputation by such wholesale profits, but a ring of nonentities and cat's paws called a syndicate has no fear of public opinion. The acquisition of plunder is the prime motive of many pro moters, who work with limited risk by means of registered associations and corporations. Companies promoted by such rings are frequently designed merely as machinery for extracting money from the public, and as soon as formed they start witha millstoneof loaded capital, and are dragged into liquidation in a very short time. The public placidly submits to be fleeced, and no earnest effort is made to stop the game. It is notorious that a large number of bogus companies have been formed the last few years, but one seldom hears of punishment of the promoters. We have thrown light on some of the combinations, and the list we gave last week, and continue this week, of promoting companies shows how wild the game of promotion has become. The mere record of the titles and capital is instructive, and if ever a Parliamentary inquiry into company promotion is held there will be a heap of material to work upon. Many of the titles of companies give no indication of what the powers of the company are. Thus, the Potato Syndicate may have power to invest in, acquire, dispose of, trade in, promote, and deal with trading companies, mines, &c, &c, in Timbuctoo "or elsewhere." This expression of "or...
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Product details

  • Paperback
  • 189 x 246 x 46mm | 1,619g
  • United States
  • English
  • black & white illustrations
  • 1236969758
  • 9781236969750