Company News and Views

suppose that B of Media, Pennsylvania, who keeps his money on deposit
in the First National Bank of Media, sends a cheque in payment of a
bill to K of South Evanston, Illinois
To illustrate the connection between banks at distant points let us
suppose that B of Media, Pennsylvania, who keeps his money on deposit
in the First National Bank of Media, sends a cheque in payment of a
bill to K of South Evanston, Illinois. K deposits the cheque in the
Citizens Bank of his town and receives immediate credit for it upon
his bank-book, just the same as though the cheque were drawn upon the
same or a near-by bank. The Citizens Bank simply sends the cheque,
with other distant cheques, to its correspondent, the National Bank of
the Republic, Chicago, on deposit, in many instances in about the
same sense that K deposited the cheque in the Citizens Bank. The
National Bank of the Republic sends the cheque, with other cheques, to
its New York correspondent, the National Park Bank. It may possibly
send to Philadelphia direct, or even to Media; but this is very
unlikely. The National Park Bank sends the cheque to its Philadelphia
correspondent, say the Penn National Bank. Now the clearing-house
clerk of the Penn National carries the cheque to the Philadelphia
clearing-house and enters it, with other cheques, on the First
National of Media. Custom, however, differs very greatly in this
particular. Many near-by country banks clear through city banks;
others clear less directly. If the First National Bank of Philadelphia
is known at the clearing-house as the representative of the First
National Bank of Media it likely has money belonging to this Media
bank on deposit. In that case the cheque is charged up against the
account of the First National of Philadelphia. This bank then sends
the cheque to the First National of Media, by which it is charged up
against B. This system of collection of cheques is about as perfect as
is the post-office system of carrying registered mail.

goods of low value is less for each unit of weight or bulk than the
amount of value which is acquired by an equal weight or bulk of
high-priced commodities, yet the _percentage_ increase in value is
greater in the case of the goods of low cost
While it is true that the amount of value added by transportation to
goods of low value is less for each unit of weight or bulk than the
amount of value which is acquired by an equal weight or bulk of
high-priced commodities, yet the _percentage_ increase in value is
greater in the case of the goods of low cost. Expensive articles can
be carried long distances without adding very much to their cost to
the consumers. Measured in their percentages, then, the value of the
service of transportation is relatively much lower in the case of the
higher-priced commodities. The freight charges on wheat range from
twenty to forty per cent. of its farm value, while the rate on shoes
is possibly two per cent. of their factory price. That these charges
are levied in accordance with the real ability of the articles to pay
would be hard to establish.

world
France by nature is one of the most highly favoured countries in the
world. Its climate is genial. Its temperature is so varied that almost
every vegetable, grain or fruit needed for the sustenance of man may
be raised within its borders. Its soil, though not surprisingly
fertile, yet yields abundantly such products as are suited to it. Its
mineral resources, especially in coal, iron, lead, marble, and salt,
are very considerable. Its area is compact. Its facilities for foreign
commerce are unsurpassed. It lies between the two bodies of water–the
Atlantic and the Mediterranean–of greatest commercial importance in
the world. And its people, especially those in rural parts, are
exceptionally frugal and industrious. But France as a nation has not
made the progress in the world that its natural advantages call for.
It has been cursed with expensive and unstable governments and
sanguinary wars. Its upper classes, the natural leaders of its
peoples, are excessively fond of pleasure and military glory, and the
energies of the nation have been much misdirected. As a consequence,
despite its natural advantages, France is losing ground among the
nations of the world. Its national debt amounts to nearly
$7,000,000,000, the largest national debt known in history, being per
head of population seventeen and one half times as great as that of
Germany, six times as great as that of the United States, and much
more than one and one half times as great as that of Great Britain.
But, what is of more serious consequence, the vitality of its people
seems debilitated. For years the annual number of births in France has
been steadily decreasing, while the annual number of deaths has been
more or less increasing. Over a great part of the country the number
of deaths annually exceeds the number of births. In numerous years
this is so for the whole country. The birth rate is the lowest in
Europe. The death rate, while not the highest, is yet higher than in
many other countries. As a consequence of all this the population of
France is almost stationary. During the last seventy years it has
increased only 18 per cent., while that of Great Britain has increased
63 per cent., Germany 75 per cent., Russia 92 per cent., and Europe as
a whole 62 per cent. And even this increase, small as it is, is
largely due to immigration from other countries. Nor is the emigration
of Frenchmen to their colonies or to other countries to be set down as
a sufficient explanation. The French are averse to emigration. At the
present time the number of Frenchmen residing abroad is only a little
more than half a million, while of foreigners residing in France the
number is not far short of a million and a quarter.

liabilities of employers to their employes; in this lesson the subject
will be continued
In our last lecture we stated some of the principles relating to the
liabilities of employers to their employes; in this lesson the subject
will be continued. _An employer is bound to use some care or
precaution, and if he does not will be responsible for his neglect._
One of these is he must employ persons who are fit for the work they
are set to do. If an employer in mining should put a man to work by
the side of another to mine coal who he knew was not a skilful
workman, and, in consequence of this unskilful workman”s
unskilfulness, other miners were injured, he would be responsible for
hiring such a man. Every one will see the justice of this rule.

corporations are not stock companies
Stock companies are usually referred to as corporations, though all
corporations are not stock companies. A corporation is a body
consisting usually of several persons empowered by law to act as one
individual. There are two principal classes–(1) public corporations
and (2) private corporations. Public corporations are not stock
companies; private corporations usually are. Public corporations are
created for the public interest, such as cities, towns, universities,
hospitals, etc.; private corporations, such as railways, banks,
manufacturing companies, etc., are created usually for the profit of
the members. Corporate bodies whose members at discretion fill by
appointment all vacancies occurring in their membership are sometimes
called close corporations.

TREASURY STOCK. It often occurs that a new company finds it necessary
to set aside a certain number of shares to be sold from time to time
to secure working capital. Such stock is held in the treasury until it
is needed, and is called treasury stock.

from its owners as to whether or not it should be protested in case
of non-payment
In taking in collection paper, banks should obtain clear instructions
from its owners as to whether or not it should be protested in case
of non-payment. It by no means follows that a formal protest is not
desired because the paper bears no indorsements. Many banks make it a
rule to protest all unpaid paper unless otherwise ordered.

Vega Promotional Systems to Acquire Intellectual Source Code for Online Gaming
Vega Promotional Systems to Acquire Intellectual Source Code for Online Gaming

3. (_a_) What provision is usually made for the redemption of
municipal bonds which have a long period to run? (_b_) What is
meant when we say that a certain railway is in the hands of a
receiver? (_c_) Give some of the advantages which stock companies
have over partnerships.