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These men who had thus foolishly parted with an indefinite lease of their holdings had not really considered what they were doing. This matter of Chicago street-railways, once he had them well in hand, could be made to yield such splendid profits! He could incorporate and overcapitalize.
A more usual practice, and more dangerous- because it deceives even the intelligent-is to overcapitalize an honest business, to issue "watered" stock-that is, stock in excess of the actual value of plant, patents, and other assets. These stocks are issued merely to sell.
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