Aus:
The Money Market Review, 1. Dezember 1866. S. 606/607.
Schließen

Estate Investment Co. Misrepresentation in Prospectus.

Nach judgment des Vice Chancellor Sir W. Page Wood „the plaintiffs contract to take 10 shares rescinded, deposit money returned to him, his name removed from the register of the Co, the defendants to pay the costs of the suit“.

This Co. promoted by one Sarl. Purpose set forth in Prospectus to buy Land for building near metropolis etc[.] The capital of the Co was to £250,000, in 10,000 shares of £10 each, the prospectus stating that the first issue would be of „5000 shares of which more than half has been subscribed“; that upwards of 70,000£ had been expended upon the Selhurst Estate (at North Norwood) by the vendor Sarl; and that a binding contract had been entered into for the purchase of the Leyton stone Estate (within 6 miles of London etc). Alles dieß gelogen. Sarl himself (promoter und agent der directors) had agreed to take 2,510 shares. The directors told the public that they had got rid of, while Sarl was afterwards found pushing these 2,500 shares in the market, and |235 inducing the public to buy that which they were assured by the prospectus had been already taken up.

The New Russian Loan.

Aus:
The Money Market Review, 1. Dezember 1866. S. 608/609.
Schließen The returns of the Banks of England and France show a glut of money … yet, so thoroughly the basis of public confidence sapped, that prices (on Stock etc Share markets) without any sign of animation. Dulness and distrust prevail, in face of the fact that the Board of Trade returns show the commerce of the country in more active condition than is generally believed.  Von Marx mit Auslassungen und Ergänzungen aus der Quelle zitiert im Brief an Collet Dobson Collet vom 19. November 1868.
Schließen Holders of money are afraid – afraid, at least of all the old channels of investment, and capital is only to be tempted for the moment by foreign or colonial loan. Of this the enormous applications for the Russian, and the marked success of the New Zealand, Victoria, and Queensland Loans are proofs. Employment of this kind will not long be wanting for our capital. The Lombardo-Venetian Railway Co are about to issue bonds for £3,600,000, and doubtless several needy Governments will not delay following in the wake of the Russian. It is a gain, at all events, that there is at length some renewal of investment, and we must continue to wait patiently until the need for interest shall make itself sufficiently felt to force into employment the unremunerative hoards which are now accumulated in bankers’ vaults.

 Zusatz von Marx.
Schließen Der oben citirte Foreign Bondholder schreibt in dieser Nummer über die New Russian Loan:

Aus:
The Money Market Review, 1. Dezember 1866. S. 611/612.
Schließen The New Russian Loan „a success“; that is to say, before allotment, it has been dealt in largely at a premium, as was the case invariably a year or 2 ago with all the limited liability Cos now being wound up under the orders of the Court of Chancery. I predict, this new loan will go to a discount, as the monthly instalments of £15 become due … Its introduction has had the effect, not only of checking the rise, which was general, in all foreign stocks, but of causing a fall in Consols, and a fall of 2 to 3% in all classes of Russian bonds. It is now stated that various other foreign loans are about to be introduced, Austria is in need – also Brazil, Portugal, Italy, and, as John Bull’s coffers are once more filling, there will be no end of applications for the surplus wealth of the nation … The public for the moment care little about foreign stocks as investments, yet send in their applications for a slice of the New Russian Loan, tempted, as in the days of the late mania, by the hope of realising a premium on the scrip.

Aus:
The Money Market Review, 1. Dezember 1866. S. 611.
Schließen

 „1915“ ist das Pseudonym eines Verfassers einer Reihe von Leserbriefen an die „Money Market Review“.
Schließen 1915. On the Overends.

The personal guarantee was expressly given, not as against the 4 millions and upwards of the secret instrument at all, but solely against the 19 mill. and upwards of the comparatively public deed of transfer. Even the pledge of the private estates of the old firm was not to be redeemed before 31st Dec. 1868.