March 16, 1867. N. 354.

Aus:
The Money Market Review, 16. März 1867. S. 331/332.
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South Eastern Railway Dividend

An increase in the capital during the last 5 years from 121/2 to 18 mill., nearly the whole of which has been raised in some form of priority overriding the dividend, and at rates of interest exceeding the average rate of net earning upon the entire capital spent. The dividend has fallen nominally from 5% p.a. to 3; but the actual decline is more than this, and having regard to the altered method of accounts, questionable whether the dividend of 1867 is not almost a myth.|

258

Commercial Morality. (Overends)

Aus:
The Money Market Review, 9. März 1867. S. 306/307.
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Meeting of English and American Bank on 5 March, London Tavern, Chairman William Scholefield, M.P. (perhaps 100 leading commercial men present). He (Scholefield) said took the chair, because their chairman Gordon  Zusatz von Marx.
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(one of the Overend Swindlers)
became suddenly ill. „Mr. Gordon was extremely anxious to be present to-day, to state what he had done in reference to his connexion with this and other Cos.“ Der  Zusatz von Marx.
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grosse
Gordon „has, with the frankness and sincerity of purpose which always marked  Zusatz von Marx.
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(!)
him, placed himself entirely in the hands of the directors, to do what they please with respect to his resignation“. Sie werden aber take no steps „especially as our confidence in Mr. Gordon’s integrity is untouched in the slightest degree. I should mention to you, as a matter of some importance, that Mr. Gordon has taken the same course with other Cos with which he is connected that he has taken with regard to this, and in every instance the determination which has been come to by the directors interested has been that it is no part of their duty to take any steps whatever with reference to his resignation or the dissolution of his connexion with the Cos. (Cheers)“.  Zusammenfassung von Marx aus: The Money Market Review, 16. März 1867. S. 335.
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(Gordon had not given his resignation, but only declared his willingness to withdraw, if his co-directors etc should declare that he ought to do so.)

 Zusatz von Marx. „1915“ ist das Pseudonym eines Verfassers einer Reihe von Leserbriefen an die „Money Market Review“.
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Ueber diese Farce bemerkt 1915 u.a:

Aus:
The Money Market Review, 16. März 1867. S. 335/336.
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Vice Chancellor’s Malins charge of „fraud“ against the Directors in general of Overend, Gurney et. Co. (Lim.) involves this same Gordon. In the face of such a judgment, the „unabated and unbounded confidence“ – a very strong generality certainly under the special circumstances – can only rank as an illustrative certificate of character. Scholefield sagte that Gordon, but for „sudden and severe illness“ „was extremely anxious to be present to-day to answer any questions“, aber Scholefield afterwards added, that „Gordon’s official advisers have most strongly forbidden any action as matters at present stand“. How is the anxiety to speak to be reconciled with the prohibition of speaking? If Gordon, barring „sudden and severe illness“, be really eager to answer questions, he will enjoy the chance at the annual April meeting of the Oriental Bank Corporation. … Scholefield says that Gordon „has had no opportunity of saying a word in his own defence“.

On the 11 June (1866), when the only formal assemblage of the limited Co. took place, I  Zusatz von Marx. „1915“ ist das Pseudonym eines Verfassers einer Reihe von Leserbriefen an die „Money Market Review“.
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(1915)
asked the new directors, Barclay, Gibb, Gordon, and Rennie to explain their doings with respect to the transfer. Trotz 4 × Wiederholung der Frage no answer. Gordon, not only silent, but changed his seat. 6 Months afterwards, 11 December (1866) Justitia’s Letter in Times. Gordon might have endeavoured to refute the writing, or prosecuted the writer. He adopted neither alternative. He penned to Times a most „lame and impotent“ promise to purge by oath. Gegen Ende des above said meeting, Robinson, a shareholder, would save Gordon by representing him not as a decoy but as a dupe. This Gordon, however, was a party to the 2 documents – the delusive prospectus and the secret deed. Nay, as to the former, he was more deeply concerned than any one else having drafted it in a form too bold even for the consciences of his accomplices in the business. According to the crossexamination of John Henry Gurney this Gordon did all this with his eyes open. His rough sketch had referred to „profits so long earned“. Now there had been only loss; and Gurney said as witness Gordon must have had in mind the perior period anterior to 1861.

The assets (des Overend Concern) have been reduced since 10. May last by 21/4 mill. How, when, and where has this sum disappeared?



Inhalt:

  • London. 1868.
  • 1866 „The Economist“ (Jahrgang 1866) vol. XXIV.
  • The Social Economist, 1. Oktober 1868
  • „The Economist“ (Jahrgang 1866) (Fortsetzung)
  • Jahrgang 1867.
  • Register der obigen Auszüge aus dem Economist für 1866 und 1867.
  • The „Money Market Review“. Jahrgang 1866.
  • The Money Market Review. Jahrgang 1867.
  • Register Money Market Review Jahrgänge 1866 und 1867