The herald., 1897-10-03

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1895 ..............IS2 1888 172 90
law is in operation in Kansas which
renders stockholder In a corporation liza
BILE for an amount equal to the par value
of the stock he holds. The effect of this
has been says the Bulletin, to prevent the
organization of new corporations. Capital
contends that it's just liability is limited
TO the amount invested. Advocates of the
law contend, on the other hand that the
debtor should be protected-that when
credit is obtained through the names of
rich stockholders. at least a portion of
the property of the rich stockholders
should be held subject to the payment of
the corporations debts. 1t is contended
also that man of means whose personal
credit Is good should not become identified
with corporation whose business he does
not understand and of whose solvency he is
not assured. The public buy stock in a
corporation on the faith they have that
successful business men would not con-
meet themselves with it unless in their
judgment 1t was good investment
While, of course, a man should not he
held reponsible for losses incurred bv men
who invested on the strength of his iude-
ment there is some equity in the claim
that man should not use his good name
FOR his own profit without mourning re-
sponslpility for loss which results from
'nattention to business. 1t is we'll known
that capital stock is often placed in the
names OF well-known men who are not re-
CURED to make more than nominal nav
ments on account of stock They are given
stock for the benefit of their names. If
the corporation prospers, the owner of the
stock receives his dividends; if it fails. he
loses little or nothing, though his name
may have been the means Of enablinf. the
corporation to incur heavy indebtedness.
IL IS better to restrict corporations by at
taching reasonable repons iblties to mem
berhip than to permit these creations of
law to create debts on a false show of
assets
Inc real remedy Is for the legislature to
decree that company may provide for the
limitation of liability, If desired, by at
taching the word limited" to it's corporate
name. which would be a sign of warning
to all persons having dealings with IT. This
is the practice under English cornorat,on
law.
AS the demand for anthracite coal he
comes each year more closely limited TO
the consumption for domestic and house,
hold purposes. the managers of the
coal companies must according to the
Engineering and Mining Journal, watch
closely every movement which may tend
to restrict its use. especially in the large
eastern cities. Just at present thew are
threatened with increasing competition
from the gas companies, which are making
efforts In many places, particularly in New
York to supplant coal by gas. The re-
duction in cost of gas and the many ad-
Vantages which its use presents to the
housekeeper in a city are continually
urged upon the public. with a good deal
of effect. In most places the effort thus
far has been to increase the use of the
ordinary Illuminating gas. but there is
strong probability that the supply of q
special fuel gas will be an important
branch Of the trade The fuel gas plant
established some time ago in Bridgeport
Conn, Is In successful operation. and the
experimental plant erected by the Domin-
ion Coal company at Halifax is doing so
well that 1t is understood that arrange.
ments are being made to begin work on
the gas producers to supply Boston and
neighboring cities There seems little
doubt that the inroads on the anthracite
trade from this source will increase in
Importance
The postal savings bank idea is taking
a firm hold on the people of this country.
and by the time for the election of an
other congress should assume the import
ance Of party issue. The people want
postal savings banks, and the party that
promises to take steps to secure them
should receive on that account alone a
large measure of popular support. The
lessons of hard times have been severe
ones. There are prospects of better con-
ditions. The people are ready for some
years Of economy, but the tendency to save
is discouraged by the insecurity of savings
banks conducted as private enterprises.-
Chicago Journal
Insurance
The idea of cheap life insurance exer-
cises a great fascination over the mind of
the oru'hdry iHdN, anu HeltHer common
sense nor the hard experience of hundreds
who have been duped and suffered seems
able to help him to conception of the
truth or the faintest idea Of the simplest
business principles.
1t Is not carelessness. nor, indeed, is 1t
altogether blindness. which leads so many
to embrace foolish and impossible schemes
but 1t IL the idea of getting something for
nothing which enthralls them. Almost