The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1898-11-27
A CRAZE
Is Joint Stock
Company
WITH ENGLISHME N.
Now Has a Strong Hold
With Middle Glass.


~
business houses or enterprises thdI are
still in the hands of individual owners,
,,r oF i,,e,,,bars of ono es,,,;t,, a., of two
OF 'hree Partners Is not ohiy ~ eh
smaller now than it was 20 years age,
but 1T keeps growing smaller steadily,
Year by year
This company forming fad began 10
get its hold among the people OF the
middle class some is years ago
Lest this term middle class" may
not be readily understood by American
readers. it may be explained that ii an
plies to persons OF the salary cas- dis
tinguished from the wage) earning Gle
ment of the community small sbep
6store) zeepers clerevrnen doctors and
LAWYERS The men and women who
work for a DAVIS nav belong "a the
'lower class while tha lrniebts hsro-
nets viscounts lords dul[es and sa,,le
constitute that ciIded crust know, as
Inc "lnns, clast -
Prior ia lSQ0 The co,,,,,,,tio,, idaa had
,,or bea, ,7,,,Iie1 ,,.,.,. 1l,t,e,.,II,- f ,,l,,
1l3srciol dri,,i. ~
il, creat Iz,itaj,, So af a. $500
concerns 80 st;1I u, ~ i .s,1,.
sion If tha fag,i1il l,,l,e ,,7,,7
ha,,e fo,,nCld -, - ~ 1,l+;I.i-
b.t,,lo,, ~, le. -
of 49, t,' az ~ 10
ofo,,t ~ - IC'.i ~ y"
go - -, 1'''l9 a. 10 "a, q VI
,.a5i,,cr 80 - ~ INC ~
..jT,1i'r - 49,, L ol llioi tiie
-. as ~ uedu IN me I'M, MS
o,.I -n@s'5t JonH ana Master ken
~ ,,.+.5 - ~ I1S' anu
- = 49, He9lUs ~ INC inherent ue-
aS, ~ l-e9 men nose nalf had
9iO"ii g @F III 'iis IdIIIHS service, ana
w I@u coliIe up 10 lhef POSITIONS
NJ 'iIe vel SllIdl3es1 beginnings.
Lut me CHellSe came over the Dusl-
ness WoIid IN ehe early SOs, and that
I-1aH6e mas pee4 CONTINUOUS since Its
~ ~. = slsH was MheH the slganuc brew
IHs CONCERN OF GUINNESS d sons IN Dub
- "ss luiHeu lAto STOCK corporation.
!, OF IeaFIy d century the members of
lHe GUINNESS famllY had owned the
business eEciuslVeIy, and under their
IHan.aEei!enl the great brewery grew,
uhllI' WIN IT'S Iorce OF 5000 men, and its
army 81 agents, customers and con-
sunels an over the civilized world, the
Irm OF GUINNESS ~ Sons was one of
tile peSl known ana most successful
IN the universe
ABOUT Inc year mentioned lSSO). Bar
lng. the London tinancler ana rival Of
RotGs hid talked Sir Edward Cecil
GUINNESS, the then head Of the family
and Of the business. into converting the
concern into joint stock corporation
The wealthy brewer fell in With the
suggestion, ana in due course Of time
thee braSpeetubItwhicie Showed a profit
OF Riper cen1peT annum ftH long Sc
ries OF years. was issued through the
newspapers, The business was capital
lied for GJ,000,O0O ($l5,O00, 000), the
shares were placed at so each, and the
application lists were kept open but a
a
closed on that afternoon, it was found
that an event unparalleled in the fin
Rncial history of Great Britain had ta-
ken place. The vast amount of share
stock offered for sale had not only
been bought, but the applications for
shares, by letter and telegraph
amounted in the aggregate to many
times the number of shares for sale
Ii was stated at the time that Barring
several extra men was kept busy for
a week, Sitting through the mass of
applications, and sending letters Of re-
greet to those to whom shares could not
be allotted.
This amazing success started the ball
rolling. Before many weeks the Eng
lish firm Of Bass, Radcliffe & Gretton
brewers Of the world-famous Bass ale)
was in the stock market, and the rush
for shares was fully as wild as that
which marked the organization of the
Guinness corporation. Then followed a
quick succession of company forma-
tons, Every sort of a concern that
could Show healthy balance sheet was
turned into corporation. At first the
movement was confined to large whole
sale houses, principally in the dry
goods trade Soon, however, it made its
way down into the retail circles; hat
ters, shoe dealers, IopacconlSts, haber-
dashers, grocers, undertakers, jewelers.