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Updated: May 14, 2025
Eventually in 1879 they disposed of all their rights and existing plant to the Calcutta Tramways Co. for the sum of £4,000 per mile, and the latter commenced operations in the latter part of 1880. But the company could not make headway, and the poor shareholders got very little return for their investment until the introduction of the electric system in 1902.
And if any one still thinks that, by such a course of conduct, if ever it became general, as it would do under these conditions, the owners of capital would be injuring themselves alone, he need only reflect a little longer on one of our suggested illustrations, and ask himself whether the gradual deterioration of railroads would have no effect on the world beyond that of impoverishing the shareholders.
All apprehensions vanish before the word that is all the fashion at this moment in all administrative councils, at all meetings of the shareholders, on the Bourse, on the boulevards, everywhere: "The Nabob is in the thing." That is to say, we are running over with cash, the worst combinazioni are in excellent shape. That man is so rich! Rich to such a degree that one cannot believe it.
Believing that "a public library would be very useful as well as ornamental to the city," and also advantageous to "our intended college," the shareholders agreed to pay "five pounds each on the first day of May, and ten shillings each on every first of May forever thereafter."
He had also betrayed his fellow shareholders in the Clermont Mine, selling their interests, doubtless for a tempting consideration, to the directors of another company. For all that, Carroll recognized that since he and Vane were beaten, as he had confessed, recriminations and reproaches would be useless as well as undignified. He preferred to face defeat calmly.
As I proceeded the attorney fidgeted, puffed out his cheeks, blew out his breath, twirled his thumbs as I twirled his figures, and grated his teeth as he looked at me sideways, while I concluded a little peroration I had got up for him, which was merely to this effect, that if railway companies yielded to such extortionate demands as were made by this attorney on behalf of the poulterers' company, they would not leave their shareholders a feather to fly with.
"Well, Wimperley?" Birch had not moved. "This is the last straw. It's a case of our getting rid of him before he gets rid of us, or the shareholders do." Birch turned to the window. "Well, what about it?" Stoughton hunched his shoulders still higher. "Fire him," he said stolidly, then puffed his cheeks and breathed on the widow pane.
Could there be anything more cheering than the well-ascertained fact, that no railway has ever failed for want of traffic? In every instance, the traffic would have yielded an ample remuneration to the shareholders, had there been no extravagant expenditure.
He had been thoroughly bitten, and was the more excited at finding that Dermot and Viola Tracy were both shareholders. Their father had been a believer in Crabbe, and had taken a good many shares, and these had been divided between them at his death.
William Holliday, in a very masterly speech of great length, showed the difficulties in the way of reviving the bank, and suggested that the only way of saving the property of the shareholders, was by the establishment of a new bank on the ruins of the old, the shareholders in which were to have priority in the allotment of shares.
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