The Franklin Written Arithmetic With Examples for Oral Practice

Cover The Franklin Written Arithmetic With Examples for Oral Practice
The Franklin Written Arithmetic With Examples for Oral Practice
Edwin P Edwin Pliny Seaver
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STOCKS, DIVIDENDS, AND BROKERAGE. 197 STOCKS, DIVIDENDS, AND BKOKEKAGE.
491. An association of individuals formed for the pur- pose of transacting business is a company or partnership.
492. An association of individuals authorized by law to transact business under a company name, to hold property and be liable for debts in that name as an individual would be, is a corporation.
493. When a corporation is formed for transacting busi- ness, the pers
...ons forming the corporation subscribe what money is needed for conducting the business. This money is called capital stock. This stock is divided into shares, usually of $ 100 each.
494. The owners of the stock are stockholders. As evidence of their ownership, they hold papers called cer- tificates of stock. The stockholders form the corporation and elect directors, who are responsible for the business transacted.
495. A sum levied upon a stockholder to help meet the expenses or losses of the business is an assessment.


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