14 September. 1867. N. 380.

The Money Market Review, 14. September 1867. S. 275/276.
Icon dass Zitate symbolisiert

The (1867) Act for the Amendment of Cos. Act. Act of 1862, and the Merchant Bank Co of London (lim.)

 Zusammenfassung von Marx in eigenen Worten.
This sehr well to do Co, has weathered panic at all.
Aber its shares at present £100 each with 25 paid, and liability of £75. Directors und Shareholders (General Meeting Sept. ’67) wünschen daher reduction in nominal amount of their capital, and subdivision of their shares. Aber nun der neue Akt; came into Operation 1st Sept. ’67. Chairman said: „Impossible to act upon the Act. First the whole thing must go into Chancery Court, and this utter ruin for a Co. depending on its credit. Their creditors spread over the whole world, and their debtors also, and impossible to do what required by the Act. That Act greatly complicated the previous law upon the subject.“ It is a burlesque upon commercial legislation. But Graves, one of the commercial members for Liverpool, seriously told Liverpool Chamber of Commerce, it was „the one Act“ „next to the Reform Act“. Times outstrips him in eulogy of Act and Gvt. which passed it, says, it was carried through Parliament almost „without discussion and without alteration“. Fact is that the Bill had been completely gutted in its transit, all those clauses empowering the Board of Trade to effect the reduction of the Capital of Cos. being entirely expunged, and all those clauses handing the Cos. over to the winding up Courts in Chancery, of which nobody had ever heard anything before, being substituted in their place. This was passing the Bill without discussion certainly, but scarcely without alteration! The Economist equally lavish in its encomiums upon this miserable abortion of an Act.


  • 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