July 6. 1867. N. 370.
The Money Market Review, 6. Juli 1867. S. 6/7.
Schließen
Barned’s Banking Co.
(Lim.)
Infamous swindling. The private Bank of Israel Barned et Co, oldestablished, wellknown private bank, since 1809. 1865 Prospectus for formation of Limited Liability Co. with 2 Mill. £. Capital, 40,000 shares, 50£ p. share, for the purchase of this business and to organise it on a broader basis. 160,000£ purchase money, payable by instalments in 2 years, guarantee by the Barneds of the assets taken over, „a moderate payment for a lucrative business“. Dieß alles im Prospect. The assets taken over were utterly rotten, the guarantee utterly worthless. At that moment the firm Barned consisted of Mr. Charles Mozley and Mr. Lewin Barned Mozley. It had then been recently discovered that the Bank defrauded by more than 100,000£ by a relative of one of the partners. To repair these losses Lewin Barned Mozley brought a further capital of £20,000 into the Bank, |266 and Charles Mozley £100,000. But this latter sum, as afterwards transpired, borrowed from the Bk. o. Engd. on the guarantee of 10 Liverpool merchants, who had taken a mortgage on Charles Mozley’s property for that amount. The business, instead of being, as represented, „a large and continually increasing business“, had for some time previously been carried on without profit, if not on annual loss. The profits were variously stated at different times, but the representations always gross misrepresentations. The profits stated 60 or 70, or 50, or 40,000£ a year. But when more closely looked into – there were no profits at all for the last 3 years. Closely pressed, Mozley said that from the balance sheet prepared in 1865 he was not prepared to say that they had lost money, although he could not say that they had made any profit. At the time of transfer the old firm had lost more than all its capital; carrying on business for several years without any profit; it was under advances to several Liverpool firms, all of whom have since failed to £700,000; and their private property deeply mortgaged to provide the means of keeping the bank afloat. Yet these partners presented their profits at sums varying from 40 to 70,000£ a year. Lewin Barned Mozley said „he had just looked into the thing, and found that 20 000£ would cover the losses of the last 3 years[“]. When Mr. Bencke, one of the directors, evinced a disposition also „just to look into the thing“, he was told by Ch. Mozley that „in transactions of that kind it was unusual and highly improper to ask to see private books of accounts“. „The directors of Barned’s Bk. Co.“, says Ch. Mozley, „never made any inquiry into the private property of the partners in the firm of I. Barned et Co. They had confidence in the position they held, and the property which was patent to the town at large.“ So die new directors duped. The scheme was elaborately planned and cunningly worked out. Of the 40,000 shares, 20,000 or one half, representing 1 Mill. St., were subscribed for, in pursuance of a previous and secret arrangement, by 2 Cos. – Contract Corporation and Joint Stock Discount Co – which had no legal power to subscribe, since then became insolvent, and incapable of performing their engagements. The whole of the debts of this socalled Co, therefore fall upon a limited number of bona fide holders of shares, caught by these gross and fraudulent misrepresentations. Hitherto contributions of enormous amount levied upon these shareholders, until the whole of those placed upon the list of contributories exhausted or utterly ruined, and still the creditors have only received a fraction of their demand. Liquidators wollen nun die packen, die ihre shares verkauft haben within 12 months prior to the winding up order. (aber diese nur liable für debts contracted at the time when they were shareholders.)
Inhalt:
- 17 February 1866.
N. 1173. (Fortsetzung)
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24 February 1866. N. 1174.
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March 3. 1866. N. 1175.
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10th March, 1866. N. 1176.
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March 17, 1866. N. 1177.
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24. March 1866. N. 1178.
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31 March 1866. N. 1179.
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April 7. 1866. N. 1180.
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April 14. 1866. N. 1181
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April 21. 1866. N. 1182.
- April 28, 1866. N. 1183.
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5 May. 1866. N. 1189.
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12 May. 1866. N. 1185.
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May 19, 1866. N. 1186.
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26 May 1866. N. 1187.
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June 2. 1866. N. 1188.
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June 9. 1866. N. 1189.
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June 16. 1866. N. 1190.
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23 June. 1866. N. 1191.
- June 30. 1866. N. 1192.
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Saturday, 7 July 1866. N. 1193.
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July 14, 1866. N. 1194.
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July 21. 1866. N. 1195.
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July 28, 1866. N. 1196.
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4 August 1866. N. 1197.
- August 11. 1866. N. 1198.
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August 18, 1866. N. 1199.
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August 25, 1866. N. 1200.
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Saturday September 1, 1866.
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8 September 1866. N. 1202.
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September 15. 1866. N. 1203.
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September 22, 1866. N. 1204.
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September 29. 1866. N. 1205.
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October 6 1866. N. 1206.
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October 13. 1866. N. 1207.
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Saturday. October 20. 1866. N. 1208.
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October 27. 1866.
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November 3. 1866. N. 1210.
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November 10. 1866. N. 1211.
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November 17. 1866. N. 1212.
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24 November 1866. N. 1213
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1. December 1866. N. 1214.
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December 8. 1866. N. 1215.
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15 December. 1866. N. 1216.
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22 December. 1866. N. 1217.
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29 December 1866. N. 1218.
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January 5, 1867. N. 1219.
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January 12, 1867. N. 1220.
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19 January, 1867. N. 1221.
- January 26, 1867. N. 1222.
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2 February 1867. N. 1223.
- 9 February, 1867. N. 1224.
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16 February. 1867. N. 1225.
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23 February 1867. N. 1226.
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2 March 1867. N. 1227.
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9 March, 1867. N. 1228.
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16 March 1867. N. 1229.
- March 23, 1867. N. 1230.
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March 30. 1867. N. 1231.
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April 6. 1867. N. 1232.
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13 April. 1867. N. 1233.
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20 April. 1867. N. 1234.
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27 April. 1867. N. 1235.
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May 4, 1867. N. 1236.
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March
May
11; 1867. N. 1237.
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May 18. 1867. N. 1238.
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25 May, 1867. N. 1239.
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June 1. 1867. N. 1240.
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June 8. 1867. N. 1241.
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June 15. 1867. N. 1242.
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22 June 1867. N. 1243.
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June 29. 1867. N. 1244.
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July 6. 1867. N. 1245.
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July 13, 1867. N. 1246
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20 July 1867. N. 1247.
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July 27. 1867. N. 1248.
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3 August 1867. N. 1249.
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10 August, 1867. N. 1250.
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17 August, 1867. N. 1251.
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August 24, 1867. N. 1252.
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31 August. 1867 N. 1253.
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September 14, 1867. N. 1255.
- 21 Sept. 1867. N. 1256.
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September 28, 1867. N. 1257.
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October 5, 1867. N. 1258.
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October 12, 1867. N. 1259.
- October 19, 1867. N. 1260.
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October 26, 1867. N. 1261.
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November 2. 1867. N. 1262.
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9 November 1867. N. 1263.
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November 16, 1867. N. 1264.
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Nov. 23. 1867. N. 1265.
- 30 November, 1867. N. 1266.
- 7 December 1867. N. 1267.
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December 21, 1867. N. 1269.
- December 28, 1867. N. 1270.
- Saturday. May 19. 1866. N. 311. Panic.
Bank o. E.
- Money Market. (Reserve of B.o.E.)
- The Recent Panic and Bank Act Suspension.
- The Panic and its Remedy.
- What to do with the Act of 1844?
- The Times and the
Panic.
- Investors Losses from „Bear“ Frights.
- The Stock Markets of the Week.
- The Limited Liability Act of 1862.
- Railways. (don’t pay)
- The Reports of the Asiatic Banking Co., and the Bank of Hindostan, China
and Japan (Limited.)
- The Economy of B.o.E. Notes. 1000£ Notes.
- Money Market. (Reserve of B.o.E.)
- May 26, 1866. N. 312.
- The Bank of England and the London Bankers in the
Panic.
-
Lord Clarendon on
the Panic.
- Transfer of Business of the Bank of London to the Consolidated Bk.
- Loss in Investments since beginning of 1866 – May
26.
- The Stock Markets of the Week.
- What is a Five-Twenty Bond? (Neue Art Convertibility for paper
currency)
- The Annual Circular of the American
Commercial Agency. (Vehmgericht)
- Act of 1844 and Bank of England.
- A Pluralist Director.
- The Directors of failed
Cos.
- The Bank of England and the London Bankers in the
Panic.
- June 2, 1866. N. 313.
- John
C.
G.
Hubbard, M.P. On the Bank Act and the
Currency. (Letter to the Times on 14 May.)
- The Theory of Panic etc.
- Board of Trade Returns.
- The Consolidated Bank
(limited)
- American Exchanges and Grain Trade.
- Pressure and securities.
- Variations between Prospectus and Articles. The
Russian Iron Works Co. (lim.)
- America. U. St. (Trade)
- Bearing.
- John
C.
G.
Hubbard, M.P. On the Bank Act and the
Currency. (Letter to the Times on 14 May.)
- July 21, 1866. N. 320.
- 28 July 1866. N. 321.
- August 4. 1866. N. 322.
- 11 August, 1866. N. 323.
- August 18. 1868. N. 324.
- 25 August, 1866. N. 325.
- 1 Sept. 1866. N. 326.
- 8 September 1866. N. 327.
- Sept. 15, 1866. N. 328.
- 22 September, 1866 N. 329.
- 29 September 1866. N. 330.
- October 6, 1866. N. 331.
- 13 October. 1866. N. 332.
- 20 October, 1866. N. 333.
- 27 October 1866. N. 334.
- 10 November. 1866. N. 336.
- 17 November 1866. N. 337.
- 24 November, 1866.
N. 338.
- December 1. 1866. N. 339.
- 8 December 1866.
N. 340.
- December 15, 1866. N. 341.
- 22 December, 1866. N. 342.
- 29 December 1866. N. 343.
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5 January, 1867. N. 344.
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12 January 1867. N. 345.
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Proposed Expansive Clause in the Bank Act of
1844.
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Evidence of John Henry Gurney
and Mr. Robert
Birnbeck
Birkbeck
before Vice-Chancellor Malins.
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Cotton Market. Past and Present.
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Thomson
Hankey: (formerly Governor of B.o.E.) „The Principles of Banking, its Utility
and Economy; with Remarks on
the
the Working and Management of the Bank of
England“. Lond.
1867.
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Proposed Expansive Clause in the Bank Act of
1844.
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19 January, 1867. N. 346.
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26 Jan. 1867. N. 347.
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February 2, 1867. N. 348.
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9 February, 1867. N. 349.
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16 February
1866
1867
. N. 350.
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23 February 1867. N. 351.
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2 March 1867. N. 352.
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The Joint Stock Co’s Directory for 1867. London.
Charles Barker et Sons. 8, Birchin-lane.
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Overends. Report of Liquidators and Report of Defence
Committee.
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Leeman’s Bill respecting
Dealings in Bank Shares.
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Limited Liability. High Nominal Shares.
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London, Chatham and Dover
Railway Co.
(faux frais)
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Plethora of money.
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1915
on Overends.
(David Barclay
Chapman)
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London, Chatham et
Dover
(Zusammensetzung des
Investigation Committee) (Solicitors)
(Scapegoats)
-
The Joint Stock Co’s Directory for 1867. London.
Charles Barker et Sons. 8, Birchin-lane.
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9 March, 1867. N. 353.
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March 16, 1867. N. 354.
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23 March. 1867. N. 355.
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30 March 1867. N. 356.
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April 6. 1867. N. 357.
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13 April 1867. N. 358.
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April 20, 1867. N. 359.
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April 27, 1867. N. 360.
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May 4, 1867. N. 361.
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11 May 1867. N. 362.
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25 May. 1867. N. 364.
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June 8, 1867. N. 366.
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15 June. 1867. N. 367.
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22 June 1867. N. 368.
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29 June. 1867. N. 369.
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July 6. 1867. N. 370.
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July 13. 1867. N. 371.
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July 20, 1867. N. 372.
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July 27. 1867. N. 373.
August 3. 1867. N. 374.
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August 10. 1867. N. 375.
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August 17, 1867. N. 376.
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August 31, 1867. N. 378.
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14 September. 1867. N. 380.
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21 September, 1867. N. 381.
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28 September, 1867. N. 382.
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Gold mines of Victoria. (Kitto: „The
Goldminers of Victoria.“ Lond. ’67)
Expropriation of Individual
Labour. (Property)
-
Public Debt of Russia. Consul
Michell’s
Report.
- Robert Knight: Letter to the
Right.
Right
Honourable Sir Stafford Northcote on
the Present Condition of Bombay. Lond.
1867.
-
Limited Liability Cos formed since
1865.
-
Gold mines of Victoria. (Kitto: „The
Goldminers of Victoria.“ Lond. ’67)
Expropriation of Individual
Labour. (Property)
-
5 October. 1867. N. 383.
-
Money Market Review. 12 Oct. 1867.
- 19 October 1867. N. 385.
-
October
27
26
, 1867. N. 386
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9 November, 1867. N. 388
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16 November 1867. N. 389.
- 23 November 1867. N. 390
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7 December 1867. N. 392.
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21 Dec. 1867. N. 394.
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28 December 1867. N. 395.