The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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INTRODUCTION. 45 83. A word o£ caution may be added against forming too hasty conclusions adverse to Friendly Societies if it should turn out that the valuations in many cases show an estimated deficiency in the funds to meet the liabilities. It would be strange if it were otherwise when for the first time scientific tests are applied to contracts that have been in operation without a scientific basis for a long series of years. It must be borne in mind, however, that nothing is more elastic than the contract made by a Friendly Society with its members; no error more easy of remedy if found out in time than one existing in the original terms of such a contract. Hence the words “ insolvency,” “ rottenness,” and the like, which we sometimes hear freely used as describing the general con dition of Friendly Societies, are utterly out of place. Of Friendly Societies in general it may be said that as there are no associations the benefits of which are more important to their members, so there are none that are managed with greater rectitude, and few with equal success. 84*. The Editor has to thank the Chief Regis trar of Friendly Societies, Mr. J. M. Ludlow, for the kindness with which he has accorded valuable advice and aid. Mr. Edward F. Brabrook has assisted in the revision of the Index, the copiousness of which will, it is hoped, greatly add to the usefulness of this Work. tlie Registry Office is a ready and useful auxiliary to them, and that the trouble it gives them is more than met by compensating advantages.”—Encyclopaedia Britcmnica, 9th Ed., Art. “ Friendly Societies.”

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Object: The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

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