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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. 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. To do so, they would contribute property to a new corporation in return for stock at an inflated par ... [...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. Erie is the fifth largest city in Pennsylvania and the largest city in Northwestern Pennsylvania with a population of 94,831 at the 2020 census. The estimated population in 2021 had decreased to 93,928. The Erie metropolitan area, equivalent to all of Erie County, consists of 266,096 residents. The Erie-Meadville combined statistical area had a population of 369,331 at the 2010 census. Erie is roughly equidistant from Buffalo and Cleveland, each being about 100 miles (160 kilometers) away. Erie's manufacturing sector remains prominent in the local economy, though insurance, healthcare, higher education, technology, service industries, and tourism are emerging as significant economic drivers. As with the other Great Lakes port cities, Erie is accessible to the oceans via the Lake Ontario and St. Lawrence River network in Canada. The local climate is humid, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Erie War
The Erie War was a 19th-century conflict between American financiers for control of the Erie Railway Company, which owned and operated the Erie Railroad. Built with public funds raised by taxation and on land donated by public officials and private developers, by the middle of the 1850s the railroad was mismanaged and heavily in debt. A cattle drover turned Wall Street banker and broker, Daniel Drew, at first loaned $2 million to the railroad, and then acquired control over it. He amassed a fortune by skillfully manipulating the Erie railroad shares on the New York Stock Exchange. Cornelius Vanderbilt, who set his mind on building a railroad empire, saw multiple business and financial opportunities in railways and decided in 1866 to corner the market on Erie by silently scooping-up the Erie railroad stock. After succeeding, Vanderbilt permitted Drew to stay on the board of directors in his former capacity as treasurer.Myers, Gustavus. ''History of the Great American Fortunes''. Vo ... [...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 ' 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 University of Pe ... [...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, he we ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George D
George may refer to: People * George (given name) * George (surname) * George (singer), American-Canadian singer George Nozuka, known by the mononym George * George Washington, First President of the United States * George W. Bush, 43rd President of the United States * George H. W. Bush, 41st President of the United States * George V, King of Great Britain, Ireland, the British Dominions and Emperor of India from 1910-1936 * George VI, King of Great Britain, Ireland, the British Dominions and Emperor of India from 1936-1952 * Prince George of Wales * George Papagheorghe also known as Jorge / GEØRGE * George, stage name of Giorgio Moroder * George Harrison, an English musician and singer-songwriter Places South Africa * George, Western Cape ** George Airport United States * George, Iowa * George, Missouri * George, Washington * George County, Mississippi * George Air Force Base, a former U.S. Air Force base located in California Characters * George (Peppa Pig), a 2-year-old pig ... [...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, the Social Gospelers sought to put into practice the Lord's Prayer ( Matthew 6:10): "Thy kingdom come, Thy will be done on earth as it is in heaven". They typically were postmillennialist; that is, they 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 laity. Its leaders were predominantly associated with the liberal wing of the progressive movement, and most were theologically liberal, although a few were also conservative when it came to their views on social issue ... [...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, musician and actor. The first multimedia star, he was one of the most popular and influential musical artists of the 20th century worldwide. He was a leader in record sales, radio ratings, and motion picture grosses from 1926 to 1977. He made over 70 feature films and recorded more than 1,600 songs. His 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'' magazine said that he 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. In 1948, ''Music Digest'' estimated that his recordings filled more than half of the 80,000 weekly hou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minute Maid
Minute Maid is a product line of 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 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. Overview The comp ... [...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 a how-to book 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 also written on technological history, including A Thread Across the Ocean, the story of laying the Atlantic cable in the mid-19th century, and Washing ... [...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 New York City — more specifically Jersey City, New Jersey, where Erie's Pavonia Terminal, long demolished, used to stand — with Lake Erie, at Dunkirk, New York. It expanded west to Chicago with its 1865 merger with the former Atlantic and Great Western Railroad, also known as the New York, Pennsylvania and Ohio Railroad (NYPANO RR). Its mainline route proved influential in the development and economic growth of the Southern Tier of New York State, including cities such as 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, one northwest to Buffalo and the other west to Chicago. On October 17, 1960, the Erie merged with former rival Delaware, Lackawanna & Western Railroad to form the Erie Lackawanna Railroad. The Hornell repair shops were c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jay Gould
Jason Gould (; May 27, 1836 – December 2, 1892) was an American railroad magnate and financial speculator who is generally identified as one of the robber barons of the Gilded Age. His sharp and often unscrupulous business practices made him one of the wealthiest men of the late nineteenth century. Gould was an unpopular figure during his life and remains controversial. Early life and education Gould was born in Roxbury, New York, to Mary More (1798–1841) and John Burr Gould (1792–1866). His maternal grandfather Alexander T. More was a businessman, and his great-grandfather John More was a Scottish immigrant who founded the town of Moresville, New York. Gould studied at the Hobart Academy in Hobart, New York, paying his way by bookkeeping. As a young boy, he decided that he wanted nothing to do with farming, his father's occupation, so his father dropped him off at a nearby school with fifty cents and a sack of clothes. Early career Gould's school principal was credit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Fisk (financier)
James Fisk Jr. (April 1, 1835 – January 7, 1872), known variously as "Big Jim", "Diamond Jim", and "Jubilee Jim" – was an American stockbroker and corporate executive who has been referred to as one of the " robber barons" of the Gilded Age. Though Fisk was admired by the working class of New York and the Erie Railroad, he achieved much ill-fame for his role in Black Friday in 1869, where he and his partner Jay Gould befriended the unsuspecting President Ulysses S. Grant in an attempt to use the President's good name in a scheme to corner the gold market in New York City. Several years later Fisk was murdered by a disgruntled business associate. Early life and career Fisk was born in the hamlet of Pownal, Vermont, in Bennington County in 1835. After a brief period in school, he ran away in 1850 and joined Van Amberg's Mammoth Circus & Menagerie. Later, he became a hotel waiter, and finally adopted the business of his father, a peddler. He applied what he learned in the ci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
