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Watered Stock
Watered stock is an asset with an artificially- inflated value. The term most commonly refers to a form of securities fraud in which a company issues stock to someone before receiving at least the par value in payment.Dodd, David L. ''Stock Watering: The Judicial Valuation of Property for Stock-Issue Purposes''. New York: Columbia University Press, 1930. Historically, stock watering was prevalent in the 19th century rail industry in the United States. Origin of term "Stock watering" was originally a method used to increase the weight of livestock before sale. The cattle were first given salt to make them thirsty, then allowed to drink their fill of water. The term's introduction to the New York financial district is popularly credited to Daniel Drew, a cattle driver turned financier. Explanation American stock promoters in the late 1800s could inflate their claims about a company's assets and profitability, and sell stocks and bonds in excess of the company's actual value. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Erie Railroad Company, Common Capital Stock, 1869
Erie is a city on the south shore of Lake Erie and the county seat of Erie County, Pennsylvania, United States. It is the List of municipalities in Pennsylvania, fifth-most populous city in Pennsylvania and the most populous in Northwestern Pennsylvania with a population of 94,831 at the 2020 United States census, 2020 census. The two-county Erie–Meadville combined statistical area, Erie metropolitan area had a population of 270,876 in 2020. Erie is about from Buffalo, New York, Buffalo, from Cleveland, and from Pittsburgh. The city was named for the Native Americans in the United States, Native American Erie people who lived in the area until the mid-17th century. Its nicknames include "Gem City", a reference to its fine natural harbor, the "Gem of the Great Lakes"; and more recently, "Flagship City", from a City marketing, local marketing effort to play up the homeport of Oliver Hazard Perry's flagship USS Niagara (1813), ''Niagara''. Manufacturing continues to play a l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cornelius Vanderbilt
Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads and shipping. After working with his father's business, Vanderbilt worked his way into leadership positions in the inland water trading, water trade and invested in the rapidly growing railroad industry, effectively transforming the geography of the United States. As one of the List of richest Americans in history, richest Americans in history and wealthiest figures overall, Vanderbilt was the patriarch of the wealthy and influential Vanderbilt family. He provided the initial gift to found Vanderbilt University in Nashville, Tennessee. For his monopoly on shipping and the railroads, facilitated by political manipulation, Vanderbilt is often described as a "robber baron (industrialist), robber baron", including in what may be one of first uses of the term, in ''The New York Times'' in 1859. Ancestry Cornelius Vanderbilt's great- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Dodd
David LeFevre Dodd (August 23, 1895 – September 18, 1988) was an American educator, financial analyst, author, economist, and investor. In his student years, Dodd was a ''protégé'' and colleague of Benjamin Graham at Columbia Business School. The Wall Street crash of 1929 (Black Tuesday) almost wiped out Graham, who had started teaching the year before at his alma mater, Columbia. The crash inspired Graham to search for a more conservative, safer way to invest. Graham agreed to teach with the stipulation that someone take notes. Dodd, then a young instructor at Columbia, volunteered. Those transcriptions served as the basis for a 1934 book '' Security Analysis'', which galvanized the concept of value investing. It is the longest running investment text ever published. Early life and education In 1916, Dodd graduated from High Street School, a high school in Martinsburg, West Virginia, where his father was the principal. In 1920, he completed his Bachelor of Science, at Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Rauschenbusch
Walter Rauschenbusch (1861–1918) was an American theologian and Baptist pastor who taught at the Rochester Theological Seminary. Rauschenbusch was a key figure in the Social Gospel and single tax movements that flourished in the United States during the late 19th and early 20th centuries. He was also the maternal grandfather of the influential philosopher Richard Rorty and the great-grandfather of Paul Raushenbush. Biography Early life and education Walter Rauschenbusch was born October 4, 1861, in Rochester, New York, to Germans Augustus Rauschenbusch and the former Caroline Rump. Though he went through a youthful rebellious period, at age 17 he experienced a personal religious conversion which "influenced issoul down to its depths." Like the Prodigal Son, he wrote, "I came to my Father, and I began to pray for help and got it." But he later felt that this experience was incomplete, focused on repentance from personal sins but not from social sins. After high school ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George D
George may refer to: Names * George (given name) * George (surname) People * George (singer), American-Canadian singer George Nozuka, known by the mononym George * George Papagheorghe, also known as Jorge / GEØRGE * George, stage name of Giorgio Moroder * George, son of Andrew I of Hungary Places South Africa * George, South Africa, a city ** George Airport United States * George, Iowa, a city * George, Missouri, a ghost town * George, Washington, a city * George County, Mississippi * George Air Force Base, a former U.S. Air Force base located in California Computing * George (algebraic compiler) also known as 'Laning and Zierler system', an algebraic compiler by Laning and Zierler in 1952 * GEORGE (computer), early computer built by Argonne National Laboratory in 1957 * GEORGE (operating system), a range of operating systems (George 1–4) for the ICT 1900 range of computers in the 1960s * GEORGE (programming language), an autocode system invented by Charles L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Gospel
The Social Gospel is a social movement within Protestantism that aims to apply Christian ethics to social problems, especially issues of social justice such as economic inequality, poverty, alcoholism, crime, racial tensions, slums, unclean environment, child labor, lack of unionization, poor schools, and the dangers of war. It was most prominent in the early 20th-century United States and Canada. Theologically, proponents of the movement emphasized living out the line from the Lord's Prayer ( Matthew 6:10): 'Thy kingdom come, Thy will be done on earth as it is in heaven,' interpreting it as a call to address societal injustices. They typically were postmillennialist and believed the Second Coming could not happen until humankind rid itself of social evils by human effort. The Social Gospel was more popular among clergy than churches. Its leaders were predominantly associated with the liberal wing of the progressive movement and most were theologically liberal, although a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bing Crosby
Harry Lillis "Bing" Crosby Jr. (May 3, 1903 – October 14, 1977) was an American singer, comedian, entertainer and actor. The first multimedia star, he was one of the most popular and influential musical artists of the 20th century worldwide. Crosby was a leader in record sales, network radio ratings, and motion picture grosses from 1926 to 1977. He was one of the first global cultural icons. Crosby made over 70 feature films and recorded more than 1,600 songs. Crosby's early career coincided with recording innovations that allowed him to develop an intimate singing style that influenced many male singers who followed, such as Frank Sinatra, Perry Como, Dean Martin, Dick Haymes, Elvis Presley, and John Lennon. Yank, the Army Weekly, ''Yank'' magazine said that Crosby was "the person who had done the most for the morale of overseas servicemen" during World War II. In 1948, American polls declared him the "most admired man alive", ahead of Jackie Robinson and Pope Pius XII. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minute Maid
Minute Maid is an American brand of drink, beverages, usually associated with lemonade or orange juice, but which now extends to soft drinks of different kinds, including Hi-C. Minute Maid is sold under the Cappy (juice), Cappy brand in Central Europe and under the brand "Моя Семья" (Moya sem'ya, "My Family") in Russia and the Commonwealth of Independent States. Minute Maid was the first company to market frozen orange juice concentrate, allowing it to be distributed throughout the United States and served year-round. The Minute Maid Company is owned by The Coca-Cola Company, the world's largest marketer of fruit juices and drinks. The firm opened its headquarters in Sugar Land Town Square in Sugar Land, Texas, United States, on February 16, 2009; previously it was headquartered in the 2000 St. James Place building in Houston.Dawson, Jennifer.Minute Maid headquarters opens in Sugar Land" ''Houston Business Journal''. Monday February 16, 2009. Retrieved on February 16, 2009 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adams Express Company
Adams Funds, formerly Adams Express Company, is an investment company made up of Adams Diversified Equity Fund, Inc. (), a publicly traded diversified equity fund, and Adams Natural Resources Fund Inc. (), formerly Petroleum & Resources Corp., a publicly traded closed-end fund focused on energy and natural resources stocks. Adams Funds traces its roots to Adams Express Company, a 19th-century freight and cargo transport business that was part of the Pony Express system. It became an investment company in 1929, just prior to the October 1929 stock market crash. Adams survived the Great Depression and is now one of the oldest closed-end funds at 91 years old. The firm uses a disciplined investment process consisting of three core tenets: identifying high-quality companies through a proprietary research process; employing rigorous analysis to assess company fundamentals; and executing a portfolio management strategy focusing on generating long-term capital appreciation. Both funds m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Hepburn Committee
The Hepburn Committee was created in 1879 by an act of the New York State Legislature. A. Barton Hepburn was directed by the State Legislature to investigate the railroads' practice of giving freight rate rebates (as much as 25%) to certain of their largest corporate clients, creating what were in effect much higher freight rates for smaller companies and an unfair advantage for some of the largest corporations in the nation - like John D. Rockefeller's Standard Oil Company. Merchants without ties to the oil industry had pressed for the hearings. Prior to the committee's investigation, few knew of the size of Standard Oil's control and influence on seemingly unaffiliated oil refineries and pipelines - Hawke (1980) cites that only a dozen or so within Standard Oil knew the extent of company operations. The committee counsel, Simon Sterne, questioned representatives from the Erie Railroad and the New York Central Railroad and discovered that at least half of their long-haul traffic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Steele Gordon
John Steele Gordon (born May 7, 1944) is an American writer who specializes in the history of business and finance. Born and raised in New York City, he graduated from Vanderbilt University. After spending some time in publishing, he left to travel, driving from England to India and back and from New York to Tierra del Fuego, returning as far as Rio de Janeiro. His first book was on how to do this type of overland traveling. After working in politics for a few years as a press secretary for two congressmen, he wrote his first book on financial history, ''The Scarlet Woman of Wall Street'' (1988), a history of Wall Street in the 1860s. His history of the national debt, ''Hamilton's Blessing'', was published in 1997 (2nd edition, 2010). In 2004 he published a history of the American economy, ''An Empire of Wealth''. He has written on technological history, including A Thread Across the Ocean, the story of laying the Atlantic cable in the mid-19th century, and Washington's Monument, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Erie Railroad
The Erie Railroad was a railroad that operated in the Northeastern United States, originally connecting Pavonia Terminal in Jersey City, New Jersey, with Lake Erie at Dunkirk, New York. The railroad expanded west to Chicago following its 1865 merger with the former Atlantic and Great Western Railroad, also known as the New York, Pennsylvania and Ohio Railroad (NYPANO RR). The mainline route of the Erie Railroad proved influential in the development and economic growth of the Southern Tier of New York state, including the cities of Binghamton, Elmira, and Hornell. The Erie Railroad repair shops were located in Hornell and was Hornell's largest employer. Hornell was also where Erie's mainline split into two routes with one proceeding northwest to Buffalo and the other west to Chicago. On October 17, 1960, Erie Railroad merged with its former rival, Delaware, Lackawanna and Western Railroad, to form the Erie Lackawanna Railway. The Hornell repair shops were closed in 197 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
