January 11, 1868.
The Money Market Review, 11. Januar 1868. S. 31
Schließen
Railways und State Control.
„Economist“
The Money Market Review: at
length
Schließen at last reluctantly admits: „sole remedy for the present discredit in the
railway market is an independent audit of the accounts of
railway Cos by official auditors appointed by the State.“
„The Govt is the only uniform authenticator possible.“ Zusatz von
Marx.
Schließen Review
bemerkt: the audit ought not to be optional
Zusatz von Marx.
Schließen (wie Economist will) but compulsory upon every Railway Co.
The Money Market Review, 11. Januar 1868. S. 32–34.
Schließen
Caledonian Railway.
Zusatz von
Marx.
Schließen (Report of Committ. of
Investigation)
Ihre accounts enthalten all frauds possible. Directors gentlemen without business experience. Rely only upon their officials, 17 of whom were paid salaries in proportion to the dividend declared. The dividend declared July 1867 was nearly 6% p.a. Then erschien challenging statement, daß sie nur etwas über 4%. Committee now states it (noch zu hoch) etwas unter 3%. In den 2 last financial years expenditure of capital £1,982,765, dividends for same period in ordinary stock £556,726, little more than 1/4 of the sum borrowed.
The Money Market Review, 11. Januar 1868. S. 34/35
Schließen
Contract
Corporation (Lim.)
Zusatz von
Marx.
Schließen (Chancery in(?))
Shares 100£. Haben nun ganz to be paid. Shareholders ruined. Mit alle dem erhalten Creditors nur 2s. 6d. in the pound.
The Money Market Review, 11. Januar 1868. S. 36/37
Schließen
Insurance Cos. Their Getting up and
Winding up Zusatz von
Marx.
Schließen (Workingmen
beschissen).
Failure of Insurance Cos. very calamitous for those immediately
interested in them. Strangely got up and launched. Illustration: One concern (Insurance Co) started about 2 years
ago, with a capital of £500,000; but only £150,000, or less than 1/3 of this capital,
was subscribed for. for £10,000, payable under the articles of association for
promotion money, was, in fact, payable to the manager, he having assumed another name for the occasion.
This, we suppose, was money advanced to purchase the
directors, for, by means of this same purchase money the
interest of nearly every director in the Co. was made to appear as fully
paid up. In 18 months, which was the utmost extent of its career, the
Co. did much mischief. First, it became the focus of 5 several
amalgamations mit other Cos; and thus acquired nearly 400
shareholders, now liable as contributories, but prepared to contest it.
None of the directors in any of these amalgamating concerns took any
share or interest in the Co. to which they thus handed over their own
shareholders. And these projects, we may presume, had been got up upon
the same liberal and philanthropical principles, and pure und
disinterested motives, as the Co. in question. In one instance there
were special provisions for annuities in favour of such of the directors
as were not to receive any of the emoluments to be distributed amongst
the members of the new board, and of their widows after them! They were
evidently prudent, farseeing man, these directors of the amalgamating
Cos Zusatz von Marx.
Schließen !
Zweitens, the directors of the Co in question
had granted insurances to some 150,000 insurers, most of whom were
making weekly or monthly payments, in accordance mit
den terms of their policies, also workingmen in victims.
Drittens: They had appointed, before the
scheme collapsed, about 700 agents in the U. Kingd., from whom balances
appear to be due upwards of £25,000; but all or almost all of these
agents repudiate their liability. Court has, therefore, resorted to the
extraordinary expedient of appointing a special commission to take
evidence in relation to them in London, in Manchester, and 3 other
principal towns. Trotzdem, not more than 1% has still been recovered.
Sobald dieß Co. nicht länger could go on, shareholders’ meeting held
mit view to wind it up voluntarily. Resolution to this
effect carried und liquidator appointed – Niemand anders als
Mr. Manager who had got up the Co Zusatz von Marx.
Schließen ! The object
of such winding up and such Liquidator, of course, to avoid the
disclosures of an official liquidator Zusatz von
Marx.
Schließen ! Aber mißlang. Da voluntary liquidator
superseded durch official one who makes these preliminary revelations.
Up to the time at which he wrote, the official liquidator had received
upwards of 1000 claims upon the Co. Amongst these claims one for £1,600
on the part of the manager and previous
liquidator, und, of this claim, £600 made upon an unpaid cheque
on account of salary. Drawn when there were cheques already issued to
£1,300 more than the balance at the Co’s bankers. The remainder was for
an alleged deposit by the manager, who, through his assignee, claimed
£2,600 for unpaid salary. This gent, not content with the £10,000 he
obtained for getting up the Co., wants £2,600 for bringing it to ruin in
the Winding-up Court. The Co which this manager mismanaged never issued
but one balance-sheet, and that was entirely false and fraudulent. Two
balance sheets were prepared, „both of the same date, but materially
differing in nearly every line; one corresponding with the books, the
other corresponding with them in scarcely |22 very single
item“; the one was suppressed, the false one issued. During the
18 months’ existence of the Co. this manager managed to bring into use
some 850 books, exclusive of those at the 700 agencies, and exclusive of
those handed over by the amalgamated Cos, making probably more than 2000
books; and, although some 30 clerks were employed by the Co., their
salaries were all in arrear, and there was a gap in the account books
for 4 months out of the 18, which can only be filled up from a heap of
loose and disorderly papers.
The Money Market Review, 11. Januar 1868. S. 37.
Schließen
Silk in 1867. (Annual Circular of Durant et
Co.[)]
Total importation scarcely 10% in excess of 1866, deliveries almost identical. Prices for all, but the best classes (always small proportion of the whole) so to 20 to 25 P.Ct. below those of the commencement of the year. Manufacturers have kept their stocks at the lowest possible point, thus escaping serious mischief.
The Money Market Review, 11. Januar 1868. S. 37.
Schließen
Agricultural Implements. 1867. (Annual
Circular of Burgess and Key.)
Great increase in the demand for agricultural implements, besonders for reaping and mowing machines. Mainly from the necessity for machinery which the increasing deficiency of agricultural labourers creates, besonders in all that relates to the securing of crops.
The Economist, 18. Januar 1868. S. 60.
Schließen
January 18. 1868.
Mr. Fawcett on „Freetrade
in Land.“
All free trade would do for him (the wealthy buyer of land) would be indefinitely to increase the security of his investment, by removing all difficulties about title; by enabling him to grant any kind of lease he pleased, whether wasteful or not; and by facilitating sale whenever he wanted his money, or part of his money, back again. … Land might be raised in price, doubtless would be, but the richest would get, just as in open market they get everything else. The poor might as well compete with them for coals. Even with perfect freetrade, the dealer always prefers „a large order“, and a visibly solvent customer … It is conceivable, that if the labourers desired the land energetically, a class of land pawnbrokers would spring up as in India and Southern France, who would buy for the labourers, and exact, in the form of interest on mortgages, an excessive rental from the cultivator … In Yorkshire agricultural labourers are greatly in advance of wages in the South, owing to the competition of other modes of livelihood.
Inhalt:
- January 4, 1868.
- January 11, 1868.
- Railways und State Control.
-
Caledonian Railway.
(Report of Committ. of
Investigation)
- Contract
Corporation (Lim.)
(Chancery in)
- Insurance Cos. Their Getting up and
Winding up (Workingmen
beschissen).
- Silk in 1867. (Annual Circular of Durant et
Co.)
- Agricultural Implements. 1867. (Annual
Circular of Burgess and Key.)
- Railways und State Control.
- January 18, ’68.
- 25. January 1868.
- The Stock and Share Markets during 1867.
- Italian Deficits.
-
Midland Railway.
(Börsenmogelei und
Directors.)
-
Caledonian
Railway. (Ersatz des
Verschleisses.)
- Banks and Railway Cos.
- Overend,
Gurney et Co. (lim.) Report of the
Liquidators.
- Capital of Railways in U. Kingd. Board of Trade
Return. (für 1866)
- Lawyers and railways
- Railway Trains (1866)
- Causes of Commercial Depression. (Eingesandt
von
G.
Townend. Mincing Lane.)
- The Stock and Share Markets during 1867.
- 1 February, 1868.
- 8 February 1868.
- 15 February, 1868.
- 22 February 1868.
- 29. February 1868.
- 7. March. 1868.
- March 14, 1868.
- March 21, 1868.
- March 28, 1868.
- April 4. 1868.
- April 11. 1868.
- 18 April 1868.
- April 25, 1868.
- May 2, 1868.
- May 9, 1868.
- May 16.
1866
1868
.
- 23. May 1868.
- May 30, 1868.
- June 13, 1868.
- June 20. 1868.
- June 27. 1868.
- July 11. 1868.
- Alderman
Dakin.
- H. E.
Bird, public Accountant, Estimate of Railway (nach
den official accounts der Directors
(!))
- Labor of Superintendence. Venezuelan Loan.
(„Venezuela: Its Government and its People, and the History of
the Loan of 1864. By E. B. Eastwick, C. B. F.R.S., late
Secretary of legation at the Court of Persia; and
Commissioner for the Venezuelan Loan for 1864.“ (London.
1868.))
- Income Tax. Ireland.
- Australian Gold. Imports in U. Kingd.
for 10 J. end. 1867 (inclusive).
- Alderman
Dakin.
- July 18. 1868.
- July 25. 1868.
- August 1. 1868.
- August 8. 1868.
- 15 August. 1868.
- 22. August. 1868.
- August 29. 1868.
- 5 September. 1868.
- 12. September 1868.
- September 19. 1868.
- 26. September. 1868.
- October 3. 1868.
- October 10, 1868.
- October 17. 1868.
- October 24. 1868.
- October 31. 1868.
- November 7. 1868.
- November 14. 1868.
- November 21. 1868.
- 28 November 1868.
- 5 December 1868.
- 12 December 1868.
- 19 December 1868.
- Nachtrag zu November 14. 1868.
- 26 December 1868.
- January 4, 1868.
- 11 January 1868.
- 25 January. 1868.
- 1 February, 1868.
- February 8, 1868.
- February 15, 1868.
- February 22. 1868.
- 29 February. 1868.
- March 7, 1868.
- March 14. 1868.
- 21 March. 1868.
- 28 March 1868.
- April 4. 1868.
- April 11. 1868.
- April 18. 1868.
- April 25. 1868.
- May 2, 1868.
- May 16, 1868.
- May 23. 1868.
- May 30. 1868.
- June 6. 1868.
- July 4, 1868.
- June 13, 1868.
- June 27, 1868.
- July 11, 1868.
- Contract Price per Cwt. for Bread.
(figures just issued by the Board of Guardians of
Whitechapel).
- Sir Morton
Peto and the London,
Chatham, and Dover Co.
- Finance versus Finance. (Lewis. Hauptschwindler)
- From: Annual Report (1868) of the Irish Poor Law
Commissioners.
- Amount of gold, silver, and copper monies coined in
each year 1853–67.
- Contract Price per Cwt. for Bread.
(figures just issued by the Board of Guardians of
Whitechapel).
- July 18. 1868.
- August 1, 1868.
- August 8, 1868.
- August 15, 1868.
- August 22, 1868.
- October 10. 1868.
- November. 21. 1868.
- December 5, 1868.
- December 12, 1868.
- December 26, 1868.
- Ch. I Definition:
- Ch. II. International Indebtedness
- Ch. III. Various Classes of Foreign Bills in which
International Indebtedness is ultimately embodied.
- Ch. IV. Fluctuations in the price of foreign
bills.
- Ch. V. Interpretation of the Foreign
Exchanges.
- Ch. VI. Socalled Correctives of the Foreign
Exchanges.
- I)
Wechselrechnung etc.
-
Intermezzo. (Kettenregel, und Prozentrechnung)
- Alligationsrechnung.
-
Procentrechnung.
- Zinsrechnung.
- A) Einfache Zinsen.
A) Einfache Zinsen.
- I)
Aufsuchung der Zinsen eines Kapitals.
- II)
Aufsuchung des Kapitals.
- III)
Aufsuchung des Zinsfusses.
- IV)
Aufsuchung der Zeit.
- V)
Aufsuchung eines um die Zinsen vermehrten
Kapitals.
- VI)
Aufsuchung der Zinsen oder des Kapitals,
welche in einem, Kapital u. Zinsen darstellenden,
Werth enthalten sind.
- VII)
Aufsuchung eines mittleren Zinsfusses für
mehrere Kapitalien.
- I)
Aufsuchung der Zinsen eines Kapitals.
- B)
Berechnung Zusammengesezter Zinsen.
- A) Einfache Zinsen.
A) Einfache Zinsen.
-
Discontrechnung.
-
Terminrechnung. (Reductionsrechnung, Zeitrechnung)
-
Wechselrechnung (cont. von
p. 118)