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But pretty soon, after a great calamity had come upon them, both father and mother changed their minds about fairies. They had put all their savings into the venture of a ship, which had for a long time made trading voyages from Cardiff. Every year, it came back bringing great profit to the owners and shareholders.
Clearing out from her sister ships, then in harbor, the John Williams and the John Wesley, our little Dayspring sailed for Tasmania. At Hobart we were visited by thousands of children and parents, and afterwards at Launceston, who were proud to see their own Ship, in which they were "shareholders" for Jesus.
The board of directors of the political company has a few slight changes every year, and therefore the shareholders are conscious of no abrupt change. But sometimes there IS an abrupt change. It occasionally happens that several ruling directors who are about the same age live on for many years, manage the company all through those years, and then go off the scene almost together.
Graham alone, representing the aggrieved shareholders, was at the scene of action. He could take counsel with no man on the ground. Win or lose he must decide and act for himself. Here he sat in the cab of the Mogul, impatient only five minutes back to push ahead for the mines, to get away without recognition. Now it might well be that the point at which to act was right here in town.
The enlightened policy of their respective governments did not allow them to hesitate in giving a favorable reception to our factors and vessels, and the purchases and shipments of Asiatic goods being thus realized without the old obstructions, the Company was reasonably led to hope being able soon to increase its operations, and progressively present more satisfactory results to the shareholders, when those political convulsions succeeding soon after, which have unhinged or destroyed all the ordinary relations of trade, compelled them to abandon their hopes, till the wished-for calm should be again restored.
But Hubbard, who was directing the destinies of the enterprise during Bell's absence in Europe, decided that the time had come to organize. Accordingly the Bell Telephone Association was formed, with Bell, Hubbard, Sanders, and Watson as the shareholders. Sanders was the only one of the four with any considerable sum of money, and his resources were limited.
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.
In a very few small and special cases we have seen a railway line not pay for the working, and be closed. In a few other cases, where the dividend paid is less than 4- 1/2 per cent, it is possible that the utility of the line to the public is less than the loss of the shareholders in a non-paying investment.
He wrote to the mistress to ask what was going on, and not receiving an answer, he started off without hesitation for Paris. He found Madame Desvarennes in a terrible state of excitement. The shares had just fallen a hundred and twenty francs. A panic had ensued. The affair was considered as absolutely lost, and the shareholders were aggravating matters by wanting to sell out at once.
"I appointed him some time since," Agatha replied. "It's his post as long as he likes, and he ought to be paid better than anybody else." George glanced humorously at Scott. Agatha's manner was imperious and her voice resolute. It looked is if she meant to use her new authority. Scott nodded and gave her a document. "The shareholders may have something to say about these appointments later.
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