The Business Man's Handbook; A Convenient Book of Reference for Business Men - Softcover

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ...property in his hands; if the outlay be very large, he should apply to the court for permission to make it. He may enforce the rights of the corporation against the stockholders for unpaid subscriptions, and against the officers of the corporation for fraud. A receiver, with permission of the court, may issue receivers' certificates. These are acknowledgments of indebtedness issued in discharge of obligations incurred in the management of the property or in borrowing money for the maintenance and operation of the property, and are usually the first charge on the funds in the receiver's hands. They are not negotiable. The court that appoints the receiver has full discretion to fix his compensation, and will allow him for counsel fees, traveling expenses, and other reasonable disbursements. The receiver must submit accounts at frequent intervals. When his mission is fulfilled, the court will discharge him. Dissolution.--A corporation may be dissolved either by act of the legislature.by the surrender of its charter, by the expiration of the time limit within which it was to exist, or by the forfeiture of its charter. Foreign Corporstions.--A foreign corporation is one created under the laws of any other state, government, or country. A corporation organized under the laws of New Jersey is a foreign corporation in New York. Corporate Trusts.--As popularly understood, a trust means a consolidation, combine, pool, or agreement of two or more naturally competing concerns, which establishes a limited monopoly with power to fix the prices or rates in any industry or group of industries. The application of the word trust to such a combination arose from the fact that it was usually formed by having the stockholders of the various combining...