Joint Stock Companies.
[PBB UHITED PEESS ASSOCIATION.]
Dunedin, This Day. The annual meeting of the Chamber of Commerce was held yesterday. Mr G-. Bell proprietor of the Evening Star, was elected chairman for the ensuing year, the outgoing chairman, in his speech, referred to the dull times, and said that trade was worse than last year. He pointed out that large joint stock companies were coming into vogue, and doing away with individual merchants. These joint stock companies possessed large capital, borrowed in the London market at half the rate of interest looal bankers charged. Against this no private enterprise could successfully compete, and he pointed out that the profits are not spent in the colony, but go to support a class of absentees, whose only interests in the country were the dividends they were receiving from it.
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Bibliographic details
Feilding Star, Volume IV, Issue 38, 1 September 1883, Page 2
Word Count
138Joint Stock Companies. Feilding Star, Volume IV, Issue 38, 1 September 1883, Page 2
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