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Updated: August 1, 2024
As a general thing, the joint-owners of the Pequod must have plainly thought not.
This final step, which presents a completely organized trade with the element of competition utterly eliminated under the control of a single body of mere joint-owners of the capital engaged, must be regarded as the goal, the ideal culmination of the concentrative movement of modern capital. It is said that more than one-third of the business in the United States is already controlled by Trusts.
5 The same rules are applied in an action for partition of a number of things held by joint-owners. If such an action be brought for the partition of a single object, such as an estate, which easily admits of division, the judge ought to assign a specific portion of each jointowner, condemning such one as seems to be unduly favoured to pay a fixed sum to the other as compensation.
His joint proprietorship teaches him what urgency would warrant his intervention, and would demand his leadership in peace or war; but under no circumstances is his authority valid qua joint proprietorship. The consent of the numerous joint-owners is even under most favorable conditions a matter of conjecture. A State is created by a nation's struggle for existence.
By Irish law, the tribe was owner; the tribesmen were joint proprietors, and the forfeiture of the chief did not involve the forfeiture of the land occupied by the tribesmen. By English law, however, these latter, such of them as were not expelled or exiled, suddenly found themselves transformed from joint-owners into tenants at will.
As a general thing, the joint-owners of the Pequod must have plainly thought not.
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