The new volume deals more especially with two topics, the distribution of corporate securities and the financial side of corporate reorganizations. It also presents some discussion of the disposition made of corporate income. Though both law and accounting must be referred to in explaining financial matters, I hold an opinion that corporation finance has...
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The enormous and increasing values and profits represented by American business corporations have attracted general attention to corporate activities. The problem of corporation regulation is perhaps the leading issue of the day. Each of the leading political parties is committed to programs of corporation control, particularly in the field of public-service corporations. Many laws...
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FOREWORD The New York Stock Exchange can The be said to have been begun 125 years. Beginning ago 100 years of which it has of the passed under a formulated Constitution. Its beginning was three years after the adoption of the Constitution of the United States and the first meeting of Congress, three years...
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What Our Problem Is There are available for purchase or sale securities of the widest possible variety, issued by countless corporations, municipalities, states, nations, etc. Merely to learn the names of all of them represents a quite impossible task. Equally varied with respect to their individual requirements are the purchasers and sellers of these...
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PREFATORY REMARKS In the present work the compiler has aimed to furnish a full and reliable history of the several stocks in the Boston market offered to Investors, — a large class, comprising not only capitalists so termed, but a host of persons of smaller means, who seek out some one of the various securities...
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CYCLES AND STOCK MARKET RECORDS AN English economist whose unaffected humanity always made him remarkably readable, the late William Stanley Jevons, propounded the theory of a connection between commercial panics and spots on the sun. He gave a series of dates from the beginning of the seventeenth century, showing an apparent coincidence between the...
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INTRODUCTION IN an old Pennsylvanian almanac of the eighteenth century two qualities were postulated for success in business: first, application or industry, and second, thrift or frugality. The first without the second often leads to nothing. “A man if he knows not how to save as he gets, may keep his nose all his...
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PREFACE While the popular impression is probably the reverse, yet it is an undeniable fact that a far vaster sum of money is annually lost in this country through unwise investment, than through pure speculation. While many fortunes are constantly jeopardized and dissipated through what is known as speculation in stocks, bonds, grain-futures and...
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With the development of large-scale machine production it was only natural that there should be a transition from the system of private partnership to that of Corporate organization, depending for its financial existence and support on the sale of bonds and stocks. Through the corporate form of organization it became possible to combine the small...
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INTRODUCTORY Stocks and shares are a matter of interest to all, and of bewilderment to most, of civilized humanity. The interest may be indirect and unrecognized. The salaried official may flatter himself, perhaps, that because he draws an income direct from Government he is beyond the reach of the influence of stock markets and their...
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Abstract A restriction to nonnegative wealth is sufficient to preclude all arbitrage opportunities in financial models that have risk neutral probabilities that are valid for all simple strategies. Imposing nonnegative wealth does not constrain agents from making the choice they would make under the standard integrability condition. This conclusion does not depend on whether...
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In this “book, “Masters of Capital”, we have a most remarkable “Time and Motion Study” of Capitalism in action. In fact, it is, in effect, a copy of their formula, given us by one of the lf keepers of the seals and records “, with accompanying exhibits of its effects, before and after. If proof...
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FOREWORD THERE will be set down in this book, in as simple and direct a fashion as I can write it, the story of Amalgamated Copper and of the ” System ” of which it is the most flagrant example. This “System ” is a process or a device for the incubation of wealth...
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INTRODUCTION Every head of a corporation, every business man, in fact everyone employed in a responsible position and upon whose judgment the success of an enterprise largely depends, should provide himself with a general knowledge of the problem of investments and speculation. Investment and speculation are so closely associated with the well-being of trade that...
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