Faithin Omaha eBook Collection

Download or read book A Treatise on the Law of Corporations Having a Capital Stock, Vol. 2 (Classic Reprint) written by William Wilson Cook and published by Forgotten Books. This book was released on 2017-11-18 with total page 1136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from A Treatise on the Law of Corporations Having a Capital Stock, Vol. 2 In New York it is still held that the broker is but a pledgee, but a broker is entitled to pledge his customer's stock to raise money to pay for the stock, it having been purchased for the customer on margin and the broker being ready at all times to produce that amount of the stock.1 In Massachusetts still different rules prevail. In that state the rule is clearly laid down that a broker is not a pledgee of stocks which he buys for his customer on a margin, but that, on the contrary, the broker is the owner of the stock and that he is not bound to keep the stock of one customer distinct from that of another, but may take a single certificate in his own name for several customers, and may pledge the stock for advances made to himself, and that he is the per son to be taxed on such stock.2 The supreme court of the United States. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.