Seventy-three Years' History of the Boston Stock Market, from January 1, 1798 to January 1, 1871: With the Semi-annual Dividends Paid from Commencement of the Boston Banks, Insurance, Railroad, Manufacturing, and Miscellaneous Companies. Also the Prices of American Gold, Government Securities, State, City and Railroad Bonds, and Miscellaneous Stocks

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The author, 1871 - Banks and banking - 100 pages
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Page 29 - States, after fifteen years from the date of their issue, and bearing interest at the rate of four and a half per cent.
Page 70 - Island — were spinning-mills only ; and in England, though the power-loom had been introduced, it was used in separate establishments, by persons who bought, as the hand-weavers had always done, their twist' of the spinners. "Great difficulty was at first experienced at Waltham, for the want of a proper preparation (sizing) of the warps. They procured from England a drawing of...
Page 22 - We are not advocates for visionary projects that interfere with useful establishments. We scout the idea of a railroad as impracticable. What can be more palpably absurd and ridiculous, than the prospects held out of locomotives traveling twice as fast as stage coaches? We should as soon expect the people of Woolwich to suffer themselves to be fired off upon one of Congrene's ricochet rockets, as to put themselves at the mercy of such a machine, going at such a rate.
Page 21 - Alcibiades, or some other great man of antiquity, it is said, cut off his dog's tail that quidnuncs might not become extinct from want of excitement. Some such notion we doubt not moved one or two of our natural and experimental philosophers to get up the project of a railroad from Boston to Albany, — a project which every one knows, who knows the simplest rule in arithmetic, to be impracticable, but at an expense little less than the market value of the...
Page 9 - ... of Selectmen, reverend clergy, town-officers, and many literary and private gentlemen, visited the public schools, and afterwards partook of an elegant repast at Concert Hall. The United-States Bank paid its semi-annual dividend of 4 per cent in January. Pursuant to Act of Congress, July 14, 1798, to lay and collect a direct tax within the United States, a hundred and thirty-five estates in Boston were advertised to be sold June 11, unless the taxes and charges were paid. The low valuation of...
Page 21 - ... the project of a railroad from Boston to Albany ; — a project, which every one knows, — who knows the simplest rules in arithmetic, — to be impracticable but at an expense little less than the market value of the whole territory of Massachusetts; and which, if practicable, every person of common sense knows would be as useless as a railroad from Boston to the Moon.
Page 53 - ... stockholders. No bank shall be the holder or purchaser of any portion of its capital stock unless such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith. Stock so purchased shall in no case be held by the bank for a longer time than six months, if the stock can be sold for what it cost, and it must be sold for the best price obtainable within one year, or canceled as hereinafter provided for the reduction of capital stock: Provided, That...
Page 53 - For all debts, contracted by such association for circulation, deposits, or otherwise, each shareholder shall be liable to the amount, at their par value, of the shares held by him in addition to the amount invested in such shares.
Page 28 - ... year, there was a change, and by the Spring of 1836 money was worth a handsome premium. In the Fall, good notes were offered in New York at 3 per cent a month. Stocks sensibly declined, and the premonitory symptoms of the crash which came in 1837 were visible. UNITED-STATES BANKS. — The Constitution of the United States was adopted in 1789; and the government was soon after organized. On the 14th of December, 1790, Alexander Hamilton, the founder of our system of finance, reported to Congress...
Page 53 - Leather, 5 per cent, Jan. 10, 1865. Howard, 12} per cent, In stock, March 1, 1865. Market, $20 per share of $70, In stock, and no cash, Oct. 1, 1864; then assessed $10 per share, raising par from 70 to 100. Massachusetts, 10 per cent, regular and extra, April 1, and 10 per cent, April 29, 1865. Mechanics', 20 per cent, April, 1865.

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