MEGAdigital. Online-Angebot der historisch-kritischen Gesamtausgabe von Karl Marx und Friedrich Engels

March 14, 1868.

Board of Trade. Railway Returns up to end of 1866.


A) Capital authorised by Parliament up to close of 1865
	Shares	Loans	Total
England and Wales	£357,496,302	£119,714,054	£477,210,356
Scotland	48,742,293	16,303,523	65,045,816
Ireland	26,650,650	7,384,841	34,035,491
Total	£432,889,245	£143,402,418	£576,291,663
B) Capital authorised at the end of 1866
England und Wales	£388,605,689	£129,762,809	£518,368,498
Scotland	50,104,794	17,024,623	67,129,417
Ireland	27,441,150	7,625,341	35,066,491
Total	£466,151,633	£154,412,773	620,564,406
Increase in 1866:	£33,262,388	11,010,355	£44,272,743

C) Capital paid up at 31 Dec. 1865
	England and Wales.	Scotland.	Ireland.	Total.
Ordinary Cap. ohne priority	£186,939,352	£18,307,847	£14,350,997	£219,598,196
Debentures (terminable loans)	80,420,076	11,636,265	5,764,756	97,821,097
Preference Capital	99,930,392	19,055,152	5,277,931	124,263,475
Debenture stock or funded debt	12,315,007	1,206,768	273,600	13,795,375
Total	379,604,827	50,206,032	25,667,284	455,478,143

D) Capital paid up at 31 Dec. 1866.
	England and Wales	Scotland	Ireland	Total.
Ordin. Cap. ohne priority	193,674,973	19,797,076	14,773,580	228,245,629
Debentures (terminable loans)	86,659,720	12,566,082	5,840,061	105,063,863
Preference capital	109,322,884	19,460,908	5,671,306	134,455,098
Debenture stock or funded debt	12,566,697	1,254,732	284,165	14,105,594
Total	£402,224,274	53,078,798	£26,569,112	481,872,184

Authorised Railway Capital end 1866: 6201/2 mill. (round numbers), wovon nearly 482 mill. actually raised. This is irrespective of money raised on simple contract, such as balances due to bankers, accounts unpaid to lawyers, contractors, and others who supplied money, labour, or materials for the purposes of the various Cos. The 482 mill. do not include money raised upon „Lloyds’ Bonds“, these being securities not directly authorised by Parliament. Vgl. 1866 mit 1865 raised 261/2 mill. und as indicative of the growth of distrust, nur 83/4 mill. in ordinary stock, 173/4 mill. in the forms of priority stock. 1866 was with railways a year of pawning and borrowing, and creating securities mit rights in priority of the ordinary stockholder.

Overend et Gurney, Co. Meeting of Shareholders 13 March. Zusatz von Marx.
Schließen (Für Proceedings against Directors.)

Mr. Linklater, the solicitor said, had now come out that at the time of the transfer to the Lim. Co. of the business there were 3 deeds prepared and executed between the partners of the old firm and the directors of the new Co. Only one of them, the deed of transfer, accessible to intended shareholders; the deed of arrangement, which would have inclosed disclosed the absolute insolvency of the old firm, being held back as a private or secret deed. In the 1st deed the partners of the old firm guaranteed that the assets should realise 20s. in the £ upon the debts and liabilities transferred. By the 2nd deed it was made apparent [that the assets] were not likely to realise anything of the kind, and that they might fall short to the extent of 2 or 3 mill., and the partners therefore covenanted with the Co. to make good the too probable deficiency out of their private estates. But this deed stipulated that whatever might be the exigencies of the Co., they should not be entitled to call upon the partners to make good the deficiency before the end of 1868. To that provision, Henry Ford Barclay, before he consented to join the lim. co., took exception; and to meet these objections, another deed was prepared at the last moment, providing that in certain events the stipulations of that deed in reference to those deficiencies should be in some way modified and relaxed. All this, as Linklater said, showed that the parties were aware at the time of the issue of the prospectus that the statements it contained, and the prospects it held out, were false and delusive and therefore fraudulent.|