The increase in the number of joint-stock companies, and the capital thus invested in industrial undertakings, furnish a valuable indication.
For the ordinary process of organizing a joint-stock company and raising share-capital the nation was not yet prepared.
He entered his father's firm of hatters, in London, and later became a director of the London Joint-Stock Bank.
There are 23 joint-stock banks of issue, with an aggregate registered capital of 40,689,665 pesos (£3,051,724).
The other banks are joint-stock banks and savings-banks, of which the first was opened at Gothenburg in 1820.
The Mopani colliery, which dates back to 1860, is worked by a joint-stock company.
Various attempts were also made to improve trade and industry by abolishing the still remaining privileges of the Hanseatic towns, by promoting a wholesale immigration of skilful and well-to-do Dutch traders and handicraftsmen into Denmark under most favourable conditions, by opening up the rich fisheries of the Arctic seas, and by establishing joint-stock chartered companies both in the East and the West Indies.
In the case of joint-stock companies the company pays the state, and deducts the amount from the individual owners of stocks and shares out of whose incomes the amount comes.
The following figures for1905-1906may, however, be given: valuation of lands, houses, &c., £15,466,000; value of principal crops, £35,3 62, 000; value of cattle, &c., £81,508,000; paid-up capital and reserve funds of joint-stock banks, £11,300,000; deposits in jointstock and savings banks, £58,791,000; investments in government stock, transferable at Bank of Ireland, £36,952,000; paid-up capital and debentures of railway companies, £38,405,000; paid-up capital of tramway companies, £2,074,000.
Since the functions of these organizations were commercial, for which the regular Government officials were unsuited, they were established as commercial joint-stock companies under peculiar conditions adapting them to the service of the state.