Lawless Wealth the Origin of Some Great American Fortunes
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Well, is it possible to conceive of any- thing more illegal? For how reads the law upon this subject? "No loan shall be made by any such corporation [trust company] directly or indirectly to any di- rector or officer thereof. " General Banking Act, section 156. Passed in 1892. And further : "Every director of a moneyed corporation who wilfully does any act as such director which is ex- pressly forbidden by law, or wilfully omits to per- form any duty imposed upon him as such director by law, is... guilty of a misdemeanor, if no other punishment is prescribed therefor by law. " Penal Code, section 603. It appeared further from the report that the col- laterals securing the Sheehan loan were "not cur- rently quoted, " and that Mr. Kilburn could not estimate their value, which was, of course, a polite way of saying that they were rubbish. It appeared further that this loan was in reality made in the interest of what, for a guess? Why, our old friend the United Gas Improvement Company of LAWLESS WEALTH 129 Philadelphia, the corporation that afterward be>- came so popular that the people gathered to hang some of its advocates.
What to read after Lawless Wealth the Origin of Some Great American Fortunes?
You can find similar books in the "Read Also" column, or choose other free books by Russell, Charles Edward, 1860-1941 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Well, is it possible to conceive of any- thing more illegal? For how reads the law upon this subject? "No loan shall be made by any such corporation [trust company] directly or indirectly to any di- rector or officer thereof. " General Banking Act, section 156. Passed in 1892. And further : "Every director of a moneyed corporation who wilfully does any act as such director which is ex- pressly forbidden by law, or wilfully omits to per- form any duty imposed upon him as such director by law, is... guilty of a misdemeanor, if no other punishment is prescribed therefor by law. " Penal Code, section 603. It appeared further from the report that the col- laterals securing the Sheehan loan were "not cur- rently quoted, " and that Mr. Kilburn could not estimate their value, which was, of course, a polite way of saying that they were rubbish. It appeared further that this loan was in reality made in the interest of what, for a guess? Why, our old friend the United Gas Improvement Company of LAWLESS WEALTH 129 Philadelphia, the corporation that afterward be>- came so popular that the people gathered to hang some of its advocates.
What to read after Lawless Wealth the Origin of Some Great American Fortunes?
You can find similar books in the "Read Also" column, or choose other free books by Russell, Charles Edward, 1860-1941 to read onlineMoreLess
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