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Updated: June 11, 2025
But in the West-world, the people own a corporation's stock and they run it and get the benefit." "At least it makes a beautiful story," Joe said dryly. "Look, Max. Suppose you have a corporation that has two hundred thousand shares out and they're distributed among one hundred thousand and one persons.
It will probably keep company with, if indeed it be not itself one of, a series of papers which appear in the quarto volumes of the learned corporation's Transactions, merely because they cannot get into the octavo pages of the higher class of periodicals; but there they are, printed in the face of the world, whose inhabitants at large may worship them if they so please, and their authors cannot complain that they are suppressed.
What I am certain of, and certainly sorry for, is the superiority of the French company's railway carriage, from Ventimiglia on, to the Italian carriage which had brought us so far, and it is still with unwillingness that I own the corporation's greater care for our comfort.
Appraised at its value in the current coin of street gossip, the legal seizure of the Trans-Western figured mainly as an example of the failure of modern business methods when applied to the concealment of a working corporation's true financial condition.
The circular, shortly after sent out to all the names upon the list, stated succinctly that financial and labor conditions had been such that it had been found impossible to operate the mine profitably for several years, that it had depreciated greatly in value owing to the water which had accumulated in its lower levels, that it had exhausted its surplus, that a heavy indebtedness had accumulated, that the corporation's outstanding notes had been protested and that the property would be sold under foreclosure unless money was immediately raised to pay them, the interest due and taxes; that half a million dollars was needed to put the property in operation and that there was no way to secure it, as nobody was willing to loan money to a bankrupt mining concern.
Among the points to be aimed at should be the prohibition of unhealthy competition, such as by rendering service at an actual loss for the purpose of crushing out competition, the prevention of inflation of capital, and the prohibition of a corporation's making exclusive trade with itself a condition of having any trade with itself.
Not only would such a disaster increase the ague and rheumatism that are never far removed from dwellers by the river-side, but a late summer flood might damage the crops on low-lying lands, or carry away corn that had been cut but not carted, and then, as Stratford was not readily accessible, the prices of food stuff would rise despite the corporation's efforts, and actual famine was not unknown.
But he did not care to spend either the Corporation's money or his own for so luxurious a purpose, and therefore gripped his bag manfully and wrestled with it out into the street. The ten-minutes grew to considerably more than twenty before they both found themselves in Shy Street. A long, old-fashioned, dismal street it was, with some shops in the middle, and small offices at either end.
The town founders ruled Hans Wyker out of a membership among them. Moreover, they declared their intentions of forever beating back all efforts at saloon building within the corporation's limits, making Wykerton their sworn enemy for all time.
"Well, the Corporation's had a short life and a merry one; and your precious secretary's likely to have a merry Christmas after it all unless you'd like to go down and spend it with him, Durfy," added Mr Shanklin, taking notice for the first time of the presence of their visitor. Durfy replied by a scowl. "I shall be far enough away by then," said he. "Why, where are you going?"
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