Description - A Short Inquiry Into the Profitable Nature of Our Investments by Robert Lucas Nash
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1881 edition. Excerpt: ...might plausibly be maintained that they should not be classified together in the following tables. But no Scotch Bank has as yet availed itself of the privileges of the Reserved Liability Act of 1879, though some are understood to be limited by charter; most continue to conduct a " foreign" acceptance business; and, in a few instances, their accounts still remain unaudited by independent professional men, though others have set a good example in this respect. They can still make investments in their own stock; several do hold their own stock. It is true that the amounts thus held, when stated in the accounts, do not appear large in proportion to the total capitals of the banks concerned, but the practice is an undesirable one, and should be discontinued. Some of the banks thus still suffer from being constituted under a system which rendered the City of Glasgow disaster possible, even though doubtless Scotch probity may be trusted never to suffer the miserable experiences of that fraud to be repeated. Irish Banks were at first less affected than either English or Colonial Companies by the great Scotch failure. But during 1879 they suffered severely, owing to the wide-spread agricultural and commercial distress. Traders in many districts have been much embarrassed by the entire inability of the peasants to liquidate any portion of their indebtedness to them, and this and a general curtailment of business have reduced profits throughout Ireland. Previously, however, Ireland had passed through a marked period of revival, and the benefit had extended itself to all classes of the community. That revival has made itself conspicuous in the position of the two largest Irish Banks. The Bank of Ireland, considering that it is in the...
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