Capital To-day: A Study of Recent Economic Development

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G.P. Putnam's sons, 1915 - Capital - 313 pages

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Page 187 - The rights and interests of the laboring man will be protected and cared for — not by the labor agitators, but by the Christian men to whom God in His infinite wisdom has given the control of the property interests of the country, and upon the successful Management of which so much depends.
Page 279 - In no country does one find so many men of eminent capacity for business, shrewd, forcible, and daring, who are so uninteresting, so intellectually barren, outside the sphere of their business knowledge.
Page 220 - A. He did not say that he did not want to sell it. Q. What did he say when you told him you would like to have it and thought you ought to have it?
Page 215 - The subject is one in which we need above all things — discrimination. Restrictions on industry are not good nor bad per se, but according as they are imposed wisely and with good intentions, or foolishly, and with sinister intentions.
Page 300 - ... of the securities, by the payment \to them of a commission. There are however occasions on which this is not the case. The underwriters are then required to take the securities. Bankers and brokers are so anxious to be permitted to participate in these transactions under the lead of the inner group that as a rule they join when invited to do so, regardless of their approval of the particular business, lest by refusing they should thereafter cease to be invited.
Page 162 - But, on the contrary, there is no country at present, and there never was any country before, in which the ratio of the cash reserve to the bank deposits was so small as it is now in England.* So far from our being able to rely on the proportional magnitude of our cash in hand, the amount of that cash is so exceedingly small that a bystander almost trembles when he compares its minuteness with the immensity of the credit which rests upon it.
Page 220 - ... to your committee that among other things his testimony as to the circumstances under which he obtained control of the Equitable Life Assurance Co. from Mr. Ryan demonstrates his possession of power in the fullest sense, and also that he knows how to exercise it. He said (R., 1069, 1070): Q. * * Did Mr. Ryan offer this stock to you? A. I asked him to sell it to me. Q. You asked him to sell it to you? A. Yes. Q. Did you tell him why you wanted it? A. No; I told him I thought it was a good thing...
Page 299 - The underwriting commissions on issues made by this inner group are usually easily earned and do not ordinarily involve the underwriters in the purchase of the underwritten securities. Their interest in the transaction is generally adjusted, unless they choose to purchase part of the securities, by the payment to them of a commission. There are however occasions on which this is not the case. The underwriters are then required to take the securities. Bankers and brokers are so anxious to be permitted...
Page 299 - ... the statement that there are at least hundreds of them and that they extend into many of the cities throughout this and foreign countries. The patronage thus proceeding from the inner group and its subgroups is of great value to these banks and bankers, who are thus tied by self-interest to the great issuing houses and may be regarded as a part of this vast financial organization. Such patronage yields no inconsiderable part of the income of these banks and bankers and...
Page 94 - Senate would affix an amendment providing "for the free and unlimited coinage of silver at the ratio of 1 6 to 1 without the aid or consent of any other nation.

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