Company News and Views

contract to work for another and has broken it can recover for the
worth of his service during the period he was employed
The question has often been asked whether a person who has made a
contract to work for another and has broken it can recover for the
worth of his service during the period he was employed. Some courts
have said that a person thus breaking his contract cannot afterward
recover anything, because he does not come into court with clean
hands. Other courts have said that though he can recover nothing on
the contract he has broken, he can nevertheless recover on a contract
which the law implies in such a case for the worth of his service
during the period of his employment. On the other hand, the employer
can set off against his claim any injury that he may have sustained.
Suppose he could show that the service was of no worth to him; that he
was injured rather than benefited by what he did; then the employe
could get nothing. The courts have been inclined of late years to
uphold an employe in recovering whatever his service was worth–not,
however, as done by virtue of an express or actual contract with the
employer. He cannot sue on that; in other words, he cannot take
advantage of his own wrong to recover anything from his employer, but
he may recover on the contract which the law implies, as we have
explained, as much as his service was worth to his employer, and no
more.

3. The powers of the bank are limited to the discounting of promissory
notes, drafts, bills of exchange, and other evidences of debt;
receiving deposits, dealing in exchange, coin, and bullion, loaning
money on personal security, and issuing circulating notes. It cannot
hold real estate except such as may be necessary for the transaction
of its business, or such as may have been taken as security for debts
previously contracted in good faith.

co-operation of carriers
The performance of the transportation services necessitates the
co-operation of carriers. When the government owns and operates the
railroads of a country they are managed by a single authority, and the
different parts of the railway system are fully co-ordinated; but when
the railroads are operated by a large number of independent
corporations, co-operation can be secured only by means of traffic
associations composed of representatives of the railway companies, and
intrusted with the power of making arrangements affecting joint
traffic, and settling questions involving the interests of two or more
companies.

WATERED STOCK. When stock is issued to the shareholders without
increase of actual capital the stock is said to have been _watered_. A
company may organise for, say, $10,000, and may want to increase to
$50,000 without adding to the number of its shareholders. Each holder
of _one_ share will, in this instance, receive _four_ new shares, and
in future instead of receiving a dividend on one share will receive a
dividend on five shares. The object of this is, quite commonly, to
avoid State laws requiring certain corporations to pay excess of
profit over a stated rate per cent. into the State treasury.

but he must make those that are necessary to preserve the house from
injury by rain and wind
A tenant is not required to make general repairs without an agreement,
but he must make those that are necessary to preserve the house from
injury by rain and wind. If the shingles are blown off or panes of
glass are broken others must be put in their places; and it is said
that he would be bound even for ornamental repairs, like paper and
painting, if he made an agreement to return the house in good order.

GTECH to Provide Western Canada Lottery Corporation With 4,750 Altura(R) Terminals
GTECH to Provide Western Canada Lottery Corporation With 4,750 Altura(R) Terminals

concerns of really enormous magnitude, railway pooling and the
classification of freight especially demand consideration
In discussing the work of traffic associations, which are to-day
concerns of really enormous magnitude, railway pooling and the
classification of freight especially demand consideration.

Partnership for a Drug-Free America Forms Strategic Alliances with Five of the Nation’s Top National Youth and Parent Organizations
Partnership for a Drug-Free America Forms Strategic Alliances with Five of the Nation’s Top National Youth and Parent Organizations

commercial centres–for instance, in New York or Chicago
Nearly all banks keep money on deposit in other banks in large
commercial centres–for instance, in New York or Chicago. They call
these banks their New York or Chicago correspondents. A bank draft is
simply the bank”s cheque drawing upon its deposit with some other
bank. (See illustration, p. 245.) Banks sell these cheques to their
customers, and merchants make large use of them in making remittances
from one part of the country to another. These drafts or cashiers”
cheques, as they are sometimes called, pass as cash anywhere within a
reasonable distance of the money centre upon which they are drawn.