1 February, 1868.
The Money Market Review, 1. Februar 1868. S. 121/122
Schließen
Brighton Railway und
Manchester, Sheffield,
and Lincolnshire Railway Co.
Zusatz von Marx.
Schließen (Verschleiß of steamers)
Nach den last reports die new directors der Brighton R. stated in plain terms that all till now told about the finance of the Brighton Co. is simply false. Dividends at the rate of 6% p.a. were regularly paid, and we are now told that there never was any dividend at all earned on the ordinary stock. The capital, in the course of a few years has been doubled without any corresponding addition to the net profit.
Was die
Manchester, Sheffield
etc angeht No depreciation fund has been made for the
steamers, which stand in the books at £161,000. Mr. Watkin treats this jauntily as a
small matter. Aber: die
Von Marx übernommen in Manuskript II zum
zweiten Buch des „Kapital“ (MEGA² II/11. S. 107.15–19).
Schließen lowest practical estimate of the cost of maintaining and
replacing steamboat property is 15% p.a. The rate allowed by the
Gvt to the Peninsular and
Oriental Co. is 16%.
The Money Market Review, 1. Februar 1868. S. 123/124.
Schließen
A Joint Stock Discount Syndicate and its Doings.
Dieß history findet sich in report of some proceedings in the Rolls Court on 25 Jan. ’68. In November, 1865, when shares of Joint Stock Disc. Co. fallen to a considerable discount, Wilkinson, the managing director, together with another director and 2 shareholders, Fox and Stafford, and some other parties, formed themselves into a „syndicate“ or club, for the purpose of forcing up the market price of the shares. Plan of the syndicate to „earwig“ some of the largest shareholders in the concern, and induce them to enter into written agreements not to sell any shares without the permission of the syndicate, whilst the syndicate themselves were to purchase 5,000 shares, to be apportioned amongst them. Carrying out of this scheme entrusted to Stafford who was to receive £1000 when he should have got the price up to £1 discount, and another £1000 when it should reach £1 premium, and a final sum of £2000 when it should have risen to £2 premium. The syndicate held regular meetings, and kept a minute book of their proceedings. But where was the money to come from to pay the £5000?
It was arranged that the money for the purchases should be provided out of the funds of the Co. The persons concerned in the purchases accepted bills for the amount, and those bills being discounted by Wilkinson, on behalf of the Co., the proceeds were paid away for the shares. In carrying out the scheme it was necessary, to disguise the transaction, that some of the shares should be bought in the names of other persons than those of members of the syndicate. Dazu Fox introduced his friend Gledstanes, to Mr. Stafford, as a person to whom 500 of the shares to be purchased might be transferred. Mr Fox, to satisfy the scruples of Gledstanes, undertook that the shares should not remain in his name, but be at once transferred to a nominee of the Co., and that Gledstanes should not be called upon to pay anything or incur any liability in respect of them. Relying upon this undertaking, Gled. accepted and executed transfers to him from several persons to the number of 500 shares, and at the same time executed transfers of these same shares in blank, leaving Stafford to fill in the name of the Co’s nominees. Gled. for some time heard no more of the matter; but, in mean time, shares fell, despite the purchases of the syndicate. This, it is said in the published report, was „in consequence of sales to the amount of 2000 shares by the chairman of the Co.“ The shares continuing to fall, the syndicate, on the 27. Jan. 1866, caused the transfers to Gled. to be registered, but did not fill up and register the transfers he had executed in blank, as they had agreed to do; and, consequently, when the Co. failed shortly afterwards, Gled. found upon register and put upon list of contributories. Gled. contended that his name ought to be taken off that list; that the whole scheme was known to and approved by the directors (was den Chairman nicht verhinderte to sell on his account 2000 shares); that the transfers he had executed to some nominee of the Co. ought to have been registered also. This well between Gled. and his friends of the syndicate; but as between him and the creditors of the Co., the Master of the Rolls „could not see it“. The syndicate purchased some 5000 shares and „let in“ all the friends in whose names they caused them to be registered.|
The Money Market Review, 1. Februar 1868. S. 126.
Schließen
Steel and Iron Rails (from Circular of W. Bird et Co.)
The scientific demonstration of the worthlessness of iron rails as compared mit steel does not practically affect trade. The former are still ordered largely, even for countries where steel rails could be delivered at little additional cost. Small proportion, do., of Bessemer steel rails purchased by home lines. The high price of steel rails enhances greatly the difficulty in extending their use and introduction, and as now iron rails can be had at £2 to £2. 10s. per ton in exchange for old rails (weight for weight), iron seems likely to maintain its footing for some time. Wrought iron rails are still in existence which have lasted 20 years and upwards, even on main lines, and it is therefore not impossible to make them of good quality. Deteriorations introduced partly due to the wretched quality of the mode of payment proffered in exchange. However bad the iron rails, yet exceeded in many instances where they are now complained of by the paper money which paid for them. The steel trade in its infancy, and some of the new methods of producing first class cheap steel will become more formidable competitors in the rail trade of this country then hitherto the Bessemer.
The Money Market Review, 1. Februar 1868. S. 141.
Schließen
U. States Finances on 1st. January 1868 (Monthly
Statement of Zusatz von
Marx.
Schließen M.Culloch
, Secretary of Treasury)
On 1st Jan. 1868: Debt bearing interest in coin. Dollars 1,890,102,091: 80 Cents. Debt bearing interest in paper: $328,491,230. Debt on which interest has ceased $15,871,640. cts 83. Debt without interest $407,851,290. ct.85. Total Debt Jan. 1: $2,642,316,253. ct. 48. During the month of December the debt was increased $2,943,680. 80c., but total debt for Jan. 1, 1867 was $2,675,062,505 c.43, showing reduction, during the past year, of $32,736,251. c.95. McCulloch continues his policy of funding the various obligations of the Gvt. into 5-20’s, and in this way, during december, increased the coin interest debt nearly 50 mill. The total issue of 5-20’s now $1,373,804,750. There was no contraction of currency during December.
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)