Company

“ In the short space of four years a crowd of companies, every one of which confidently held out to subscribers the hope of immense gains, sprang into existence—the Insurance Company, the Paper Company, the Lutestring Company, the Pearl Fishery Company, the Glass Bottle Company, the Alum Company, the Blythe Coal Company, the Swordblade Company. ”

“ As one of many illustrative cases, the Rubber Goods Manufacturing Company may be taken as a typical instance of a corporation organized in a conservative but up-to-date manner for permanent success and stable value. ”

“ More or less, they crowd upon and overlap each other, but without losing their identity, and so, while we cannot say that a joint stock company is a corporation, we can say * * * that the joint stock company is a partnership with some of the powers of a corporation. ”

“ We see, then, what this company ought to be, what any corporation ought to be: a concern that is square, and always on the level, with every man doing his part. You do not need to take my word for it, you see from the illustration of the table that the interest of every man is sacrificed when any other principle governs. ”

“ Let me observe, in the first place, that company which is really good is very rare and very shy. But you have surmounted this difficulty, and procured him the best letters of recommendation to the most eminent and respectable in every capital. ”

“ The company never went into outside ventures, but kept to the enormous task of perfecting its own organization. We educated our own men; we trained many of them from boyhood; we strove to keep them loyal by providing them full scope for their ability; they were given opportunities to buy stock, and the company itself helped them to finance their purchases. ”

“ Another reason is the opportunity which membership of a Company affords of being of some little use in one’s own day and generation. There is great scope for this in the wise and prudent management of the affairs of a great Company. The sick have to be tended, the poor to be relieved, the schools to be governed, the exhibitions and prizes to be awarded, the estates to be managed, worthy institutions to be selected for support, all the multifarious matters connected with the ownership of property and the dispensation of charity to be controlled. ”

“ They who suggested it were moved by the success of those great enterprises which every day develops around us, and which, by the magic word 'Company,' assume vitality and consistence; they speculated on immense profits just as they could compute a problem in arithmetic. ”

“ Every corporation is composed of four parties: the stockholders, who supply the money with which to build the plant, pay the wages, and operate the business; the directors, whose duty it is to select executive [Pg 50] officers carefully and wisely, plan the larger and more important policies, and generally see to it that the company is prudently administered; the officers, who conduct the current operations; and the employees, who contribute their skill and their work. ”

“ Three if not four of the charters are dead by limitation, one company sold its franchise to another, one is slumbering with an occasional show of life, another is leading a questionable life and two are producing and selling power. ”

“ Do I grossly exaggerate in saying that this company, candidly, quite excitedly self-conscious, as all companies not commercial, in America, may be pleasantly noted as being, formed, for the time of its persistence, an almost unprecedented small body—unprecedented in American conditions ”

“ As most of our other great corporations—the Steel Trust, the Harvester Company, the Tobacco Company, and the like—have passed through similar ordeals, all the information the student could ask concerning them exists in the same form. ”

“ They shall have full control and management of all the business of the Company, and may delegate to such Agent or Agents, as they deem best, such of their powers as they may find necessary and for the advantage of the Company to so delegate. ”

“ CHAPTER XIV THE GREATEST FUR COMPANY OF THE WORLD
In the history of the world only one corporate company has maintained empire over an area as large as Europe. Only one corporate company has lived up to its constitution for nearly three centuries. Only one corporate company's sway has been so beneficent that its profits have stood in exact proportion to the well-being of its subjects. ”

“ If he "treats every one in that way who will not worship the Great Image," he leaves me in the best of Company—Company, which he may at another Time, find it his own Interest, if that governs him, to court & respect. ”

“ The utility of this institution soon appeared, and many more desiring to be admitted than we thought convenient for one company, they were advised to form another, which was accordingly done; and this went on, one new company being formed after another, till they became so numerous as to include most of the inhabitants who were men of property ”

“ None of the original members have left the company, save by death, and, it being a close corporation, they keep their financial statements, their books, their profits, and affairs to themselves; and the outer world, compelled to guess at things, puts a fabulous estimate upon the sum annually divided among the stockholders. ”

“ On the other hand, a company consisting entirely of people of very low condition, whatever their merits or parts may be, can never be called good company; and consequently, should not be much frequented, though by no means despised. ”

“ Management.—The persons who contribute to the capital of the corporation, or company, receive certificates of stock, that is, pieces of paper certifying that said persons own so many shares in the company. ”

“ Shares are of various kinds—ordinary, preference, deferred, founders’ and management. Into what classes of shares the original capital of the company shall be divided, what shall be the amount of each class, and their respective rights, privileges and priorities, are matters for the consideration of the promoters of the company, and must depend on its special circumstances and requirements. ”

“ To consult the workmen of the company on technical questions within the range of their regular employment is one thing; to consider the commercial and fiscal policy of the company in its relation with competing companies, and with the consuming public, in a general conclave of all the establishment, would be quite another thing. ”

“ Besides the above arrangements you can go into partnership with some moneyed man, or interest, and finally a good plan, where a large amount of capital is required to build a plant and start a business, is to form a company, or corporation as it is called. ”

“ A company incorporated with such ample rights and privileges, did not fail to draw upon it the attention of the speculative, or to enlist the aid of the enterprising capitalists of the French metropolis. ”

“ Corporate organization. American industry of today is carried on for the most part, therefore, by corporations or companies. An industrial corporation or company is a group of persons, each of whom contributes a portion of the capital needed to carry on the business. These contributors receive shares in the corporation proportionate to the amounts of money which they invest. The man who contributes one hundred dollars becomes the owner of one share; the man who invests a thousand dollars receives ten shares. ”

“ "My idea of good company, Mr Elliot, is the company of clever, well-informed people, who have a great deal of conversation; that is what I call good company." ”

“ On the one hand, the approved methods of corporation finance may in some measure be resorted to by a private firm, Without formal conversion of the concern into the corporate form; and on the other hand, an incorporated company may continue to carry on its business after the manner usual with privately owned concerns. ”

“ The words 'association of persons' are often, and not inaptly, employed to describe a corporation. An incorporated company is an association of individuals acting as a single person, and by their corporate name. ”

“ Such are of the livery or clothing as have attained to the dignity to wear gowns and parti-colored hoods or tippets, according to the rules and ancient customs of their respective companies.
“A company is a brotherhood of tradesmen professing the same art, governed according to their charter by a master and wardens. ”

“ The company should be composed of practical persons-- Agriculturists, Mechanics, and Artisans, as nearly equal in pecuniary condition and intelligence as circumstances will admit, and it would be very important for the most useful and necessary arts to be well represented. ”

“ The organization of unlike and unrelated industries—manufacturing industries, public utilities, insurance companies, railroads, trust companies and banks brought under the financial control of Morgan and Company or of some other banking syndicate. ”

“ Under the Corporation’s stock subscription plan many thousands of employees have become stockholders of the great company. It has been suggested by those who see nothing but menace to the workers in every action of a big corporate enterprise, by those to whom the very word “corporation” is anathema, that this plan had for its real object the subjugation of the worker by inducing him to invest part of his wages in the securities of the employing137 company and then demanding from him unswerving obedience; enslaving him by holding over his head the fear of the loss of his investment. ”

“ The choses in action of a corporation, its rolling stock, and personal property, according to the principles of the common law, have their situs at the domicile or place of business of the company. Mayor, etc., of Gallatin v. ”

“ Originally a commercial agent; the executive head of a factory. Till some 55 years ago the Factors formed the third of the four classes into which the covenanted civil servants of the Company were theoretically divided, viz. Senior Merchants, Junior Merchants, factors and writers. ”

“ That a joint stock company should be able to carry on successfully any branch of foreign trade, when private adventurers can come into any sort of open and fair competition with them, seems contrary to all experience. ”

“ No stockholder, as such, has the right to make contracts in the name of the corporation, and any contracts he may make are not binding on the corporation. Contracts made in the name of the corporation, to be binding, must be executed by an officer duly authorized to make such contracts.
3. Joint Stock Companies. How distinguished from corporations. A joint stock company is a large partnership in which the capital is divided into shares which are distributed among the partners in proportion to their interests. ”

“ The argument supposes the corporation to have been originated for the management of an individual concern, to be founded upon contract between individuals, having private trade and private profit for its great end and principal object. ”

“ The essential properties of corporate existence are quite distinct from the franchises of the corporation. The franchise of being a corporation belongs to the corporators,while the powers and privileges vested in and to be exercised by the corporate body as such, are the franchises of the corporation. ”

“ The typical business corporation of the last century, owned by a small group of individuals, managed by their owners, and limited in size by their personal wealth, is being supplanted by huge concerns in which the lives of tens or hundreds of thousands of employees and the property of tens or hundreds of thousands of investors are subjected, through the corporate mechanism, to the control of a few men. ”

“ It is at war with the notions which we derive from the English law with regard to the nature of corporate bodies. A corporation is a distinct entity. Its affairs are necessarily managed by officers and agents, it is true ”

“ The Hudson’s Bay company, before their misfortunes in the late war, had been much more fortunate than the Royal African company. ”

“ The government of an exclusive company of merchants is, perhaps, the worst of all governments for any country whatever. ”

“ An economic arrangement between companies performing similar functions in the production or sale of comparable goods or services is characterized as 'horizontal.' The effect on competition of such an arrangement depends, of course, upon its character and scope. ”

“ It is in the industrial corporations that this capitalization of good-will is seen to the best advantage - including, under the term "industrial corporations," railway companies, iron and steel concerns, mines, etc., as well as what are known in the stock market specifically as "industrials." The corporation is, of course, not the only form of business concern in the industrial field, but it is the typical, characteristic form of business organization for the management of industry in modern times, and the peculiarities of modern capital are therefore best seen in these modern corporations. ”

“ I.⁠Every organization, association, combination, or trust of persons or corporations, which seeks to control, combine, pool, or consolidate the business or property of any persons or corporations engaged in any trade, business, or manufacture, or which seeks to consolidate several such properties, or unite several businesses, or place the property of individuals or corporations, or the capital stock thereof, in the hands of individuals for control or management, shall be deemed a corporation, and subject to all the regulations of the laws as such. ”