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One angry shareholder stated plainly at the meeting that he had taken his shares on account of the Duke's name upon the prospectus, and hinted ugly things. The Duke had risen calmly in his place. He assured them that he fully recognized his responsibilities in the matter.
It appears that from year to year he owned a larger share in the Blackfriars' Theatre: its wardrobe and other appurtenances were his: that he bought an estate in his native village with his earnings as writer and shareholder; that he lived in the best house in Stratford; was intrusted by his neighbors with their commissions in London, as of borrowing money, and the like; that he was a veritable farmer.
Before Christmas his mind was made up; and early in Christmas week he said good-bye to his wife, marched up to Four Turnings with his kit on his back, and shipped on board Boutigo's Two-Horse Conveyance for Falmouth. There was a Mr. Rogers living at Falmouth who had been a shareholder in the old "Hand and Glove" company, but had sold out over some quarrel with Mr. Job; and to him Jacka applied.
In the spring of 1846 it became necessary to close our accounts, and balance our books, with a view to give each shareholder his share of principal and profit. It was arranged that the shareholders should call at the office in Norfolk Street, in Manchester, for their cheques on and after a day in April, 1846.
'No manure can touch ours, said the shareholder. 'It's so rich in bone, d'you see. The only thing that has beat us up to date is their hides; but we've fixed up a patent process now for turning 'em into floorcloth. Yes, they're beautiful beasts. That fellow, he pointed to a black hump in a wreath of spray, 'would cut up a miracle.
He seemed so much to enjoy intelligent talk with Miss Woolmer and the Yollands; he so delighted in books, and took such fresh interest in all, whether mechanical or moral, that was doing at the Hydriots of which, by-the-by, as first inventor, the company had contrived, at Harold's suggestion, to make him a shareholder to an extent that would cover all his modest needs, I could not think how he would bear the change.
A capital of a million, would, I judged, be ample. This million should be divided into a hundred shares of ten thousand crowns each. Each share must be taken up before a notary, who would answer for the shareholder's solvency. All dividends to be paid the third day after the drawing. In case of loss the shareholder to renew his share.
In this case the capitalisation of the reserve fund puts this temptation out of their reach since, when once the reserve fund has been capitalised, it can only be got at by greedy shareholders through the process of liquidation. Since, however, the shareholder in these times is not quite so short-sighted as he used to be, there is not perhaps really very much advantage in this point.
'Oh, they'll pay the depositors in full. Don't you fret, said a man who had lost nothing and was anxious to console. 'I'm a shareholder, said the American, and smoked on. The rain continued to fall, and the umbrellas dripped in the racks, and the wet men came and went, circling round the central fact that it was a bad business, till the day, as was most fit, shut down in drizzling darkness.
There were thousands of dollars' worth of machinery there, but not a single shareholder cared even to know the condition of the property. This was the more remarkable, since he was unusually endowed by nature with the power to inspire other men with his own confidence.
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