Legislative Regulation of Railway Finance in England volume V 7 No 1 2
Legislative Regulation of Railway Finance in England volume V 7 No 1 2
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In our eReader you can find the full English version of the book. Read Legislative Regulation of Railway Finance in England volume V 7 No 1 2 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Legislative Regulation of Railway Finance in England volume V 7 No 1 2
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To quickly assess the difficulty of the text, read a short excerpt:
s Hansard, 192 : 422.
e Railway Times, April 27, 1844.
123] REGULATION OF RAILWAY STOCK-WATERING 123 of the interest so charged, without any corresponding addition to capital. Although the magnitude of these nominal additions was small, the effect became rather objectionable. So in 1847, after the panic which followed the great railway extension, the House of Lords adopted a standing order 7 prohibiting the pay- ment of interest out of capital. This was done, however, not primarily for the purp...ose of preventing stock watering, but to discourage speculation. 8 Nevertheless, this standing order had considerable effect upon stock watering, and remained in force for many years.
This restriction was again emphasized in 1864 in connection with the loans made by the railway companies. In the Railways Construction Facilities Act of that year a provision was made to the effect that railway companies should not, out of money raised under the certificate of the Board of Trade by calls or borrowing, pay interest or dividend to a shareholder on the amount of calls made on his shares.
What to read after Legislative Regulation of Railway Finance in England volume V 7 No 1 2?
You can find similar books in the "Read Also" column, or choose other free books by Ching Chun Wang to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
s Hansard, 192 : 422.
e Railway Times, April 27, 1844.
123] REGULATION OF RAILWAY STOCK-WATERING 123 of the interest so charged, without any corresponding addition to capital. Although the magnitude of these nominal additions was small, the effect became rather objectionable. So in 1847, after the panic which followed the great railway extension, the House of Lords adopted a standing order 7 prohibiting the pay- ment of interest out of capital. This was done, however, not primarily for the purp...ose of preventing stock watering, but to discourage speculation. 8 Nevertheless, this standing order had considerable effect upon stock watering, and remained in force for many years.
This restriction was again emphasized in 1864 in connection with the loans made by the railway companies. In the Railways Construction Facilities Act of that year a provision was made to the effect that railway companies should not, out of money raised under the certificate of the Board of Trade by calls or borrowing, pay interest or dividend to a shareholder on the amount of calls made on his shares.
What to read after Legislative Regulation of Railway Finance in England volume V 7 No 1 2?
You can find similar books in the "Read Also" column, or choose other free books by Ching Chun Wang to read onlineMoreLess
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