There are, in the corporation-organism, different departments and bureaus, subdivisions of function, which constitute the smaller corporations within the larger corporation.
BAKER, RALPH J. Foundation guidebook to accompany Cases on business associations, corporations.
The teachers and pupils of these schools then formed a corporation called a university (Universitas Magistrorum et Scholarium), under the control of the chancellor and chapter of Notre Dame, whose corporate existence was secured from Innocent III.
The case reached the Supreme Court of the United States, which decided that a state could not tax a corporation chartered by Congress; and that Congress had power to charter anything, even a bank.
The charter created a corporation under the style of the Governor and Company of Massachusetts Bay in New England.
BERLE, A. A. Subsidiaries and affiliated corporations.
We also might have legislated, going back to the strict principles of the common law, to forbid any corporation, any artificial body, from holding shares in another corporation.
We need the state to establish a system of education, to control corporations, to put down riots when the local authorities cannot do so, to establish the smaller organizations, etc.
The limitations now existing on the capitalization of business corporations are, no doubt, attributable to the sentiment which has always existed against monopoly, but it is clearly the policy of the commonwealth, as shown in its recent legislation, to do away with the attempt to prevent large corporations, simply because they are large.
Early in 1920 a group of three or four private business men in Buffalo established a promoting corporation and then set out to organize a cooperative wholesale which was to be a separate concern from their promoting enterprise but was to be controlled by it.
If it is paid for in cash, it may be paid for in full or by instalments, and a machinery has been created for protecting the corporation against the failure of the subscribers to stock to pay the balance of their subscriptions.
" "I propose," answered Mr. Elderberry brightly, in his capacity as chief conspirator for Scherer, Hunn, et al., "that we organize a new corporation to be called 'Lallapaloosa Limited' and capitalize it at a million dollarsone million shares at a dollar a share.
But there was a man in the town named Mr. Carnal-Security, and he brought this corporation into great, grievous bondage.
A good way to begin to regulate corporations would be to stop them from regulating us.
It became so powerful that it did not seem wise to the British government to permit a private corporation to exercise such ever-growing political authority.
Thus, in Boileau's book, we find four different corporations of patenôtriers, or makers of chaplets, six of hatters, six of weavers, &c. Besides these societies of artisans, there were in Paris a few privileged corporations, which occupied a more important position, and were known under the name of Corps des Marchands.
In the hands of a company of speculators, who should monopolize it for themselves, it might be the means of enriching the corporation at the expense of the bankruptcy of thousands; and even in the hands of Government alone it might become the means of working vast mischief to the Republic.
Thus, until very recently, if now, there has been no legislation along this great line of preventing the holding and governing of corporations by such a system of Chinese boxes; nor has there been up to date any legislation whatever along the other great line of excluding objectionable corporations from doing business in the State, which any State has, except as to interstate commerce corporations, the unquestioned right to do.
Many of the Southern States have recently passed laws exempting manufacturing corporations, etc., from taxation for a definite number of years, and such provisions are found in one or two State constitutions.
Like all new-country codes, the organic law of the State favored local corporations, and it might be argued that a bill placing the foreign companies on a purely local footing was an unmixed blessing to the aliens.
Legislation punishing or even fining an offending corporation is in the last sense ridiculous.
In 1285 a patent from the king is addressed to the burgesses and true men to levy tolls for paving the town; one in 1328 for tolls for inclosing the city with walls and gates, while in 1344 the city was given a corporation, with mayor, bailiffs, a common seal, and a prison.
Companies were formed at Paris, Marseilles, Lyons, and Rouen to carry French merchandise all over the world, and the rules of the mercantile associations, in spite of the routine and jealousies which guided the trade corporations, became the code which afterwards regulated commerce (Fig. 200).
But when they began to harvest their first crop a religious corporation, which owned land in the neighboring town, laid claim to the fields, alleging that they fell within their boundaries, and to prove it they at once started to set up their marks.
The practice of permitting the free holding of stock by corporations, and especially by holding corporations, has been undoubtedly harmful to the public, and to the public morals, and has been the main cause making possible the speedy acquisition of immense private fortunes.