This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 Excerpt: ...likewise, in some instances, carries the entire voting power, though not so often as the common, and generally in less important corporations. On the other hand the preferred stock often has a voting preference in regard to special matters--usually in case of the creation or increase of funded debt, or the enlargement ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 Excerpt: ...likewise, in some instances, carries the entire voting power, though not so often as the common, and generally in less important corporations. On the other hand the preferred stock often has a voting preference in regard to special matters--usually in case of the creation or increase of funded debt, or the enlargement of the preferred issue itself. More than a majority of the issue, usually two-thirds to three-fourths, is required to sanction such changes. Mention may be made here of the various classes of preferred stock, and the safeguard that is occasionally thrown around preferred dividends in the shape of what may be called "dividend funds." The difference between a first and second preferred stock is this: that while both are senior to the common, the first preferred ranks ahead of the second in regard to receiving dividends, and in some cases has priority as regards assets, also. Of the corporations whose stocks are active on the New York Exchange, only about 5 per cent possess two or more classes of preferred. No instance of a corporation having more than three classes of preferred stock has been found. It is proper to state here that what is commonly known as "preferred" stock need not necessarily, in many cases, be called by that name at all. Under the laws of many states, stock possessing the characteristics of preferred stock may be known by almost any name, so long as that name does not generally import some other variety of stock. Concord & Montreal has its stock divided into classes I, II, III and IV, class IV corresponding to common stock. It should next be noted that preferred stocks may possess any one of three special features--they may be "callable," "convertible" or "participating." ...
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
