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The joint-stock companies, which have had the one right, have constantly exercised the other, and have frequently had it expressly conferred upon them. How unjustly, how capriciously, how cruelly, they have commonly exercised it, is too well known from recent experience.
"I have always maintained that the United Synagogue could be run as a joint-stock company for the sake of a dividend, and that there wouldn't be an atom of difference in the discussions if the councillors were directors. I do believe the pillars of the community figure the Millenium as a time when every Jew shall have enough to eat, a place to worship in, and a place to be buried in.
It was generally understood that Robert J. Walker, United States Secretary of the Treasury, was then a partner in this mining company; and a vessel, the bark Gray Eagle, was ready at San Francisco to sail for New York with the title-papers on which to base a joint-stock company for speculative uses.
If the associated adventurers continued to depend for a time on variations of the original joint-stock plan, it was not merely because they wanted to share the risk of a still uncertain venture or because they were seeking some useful device for meeting the problems of management.
Is it not, indeed, the height of imprudence to grant equality of political rights to men of unequal conditions? If a manufacturer, uniting all his workmen in a joint-stock company, should give to each of them a consultative and deliberative voice, that is, should make all of them masters, would this equality of mastership secure continued inequality of wages?
And a few years later they were to be joined by a far larger company with leaders and many brethren of ancient birth and landed possessions, men of "education, figure; and estate," all ready to convert property into cash and to place it in joint-stock, not as the basis of promising speculation, but as the foundation of a church.
He only asked for water fresh water something to wipe the brine off; that done, he put on dry clothes, lighted his pipe, and leaning against the bulwarks, and mildly eyeing those around him, seemed to be saying to himself "It's a mutual, joint-stock world, in all meridians. We cannibals must help these Christians." Nantucket
It is upon this account, that joint-stock companies for foreign trade have seldom been able to maintain the competition against private adventurers. They have, accordingly, very seldom succeeded without an exclusive privilege; and frequently have not succeeded with one. Without an exclusive privilege, they have commonly mismanaged the trade.
The alliance which arose between that gentleman and the Captain opened a fair prospect for the latter. Mr. Sheldon was interested in the formation of a certain joint-stock company, but had his own reasons for not wishing to be identified with it.
But he struck me as happy, although some of his social customs recalled the feudal age, and he lived under the always-present contingency of decapitation. May it be long before speculation rears the horrid front of a joint-stock hotel in Tangier, or the prospectors go divining for copper, coal, iron, silver and gold.
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