If the Bell Company had sold its stock at the highest price reached, in 1880, it would have received less than nine million dollars--a huge sum, but not too much to pay for the invention of the telephone and the building up of a new art and a new industry.
The main object of these companies was not, like that of the Western Union, to do a legitimate telephone business, but to sell stock to the public.
At one time they had even taken a pledge not to sell any of their stock to outsiders.
After the victory over Dolbear, the Bell stock went soaring skywards; and the higher it went, the greater were the number of infringers and blowers of stock bubbles.
Drawbaugh's defeat sent the Bell stock up once more, and brought on a Xerxes' army of opposition which called itself the "Overland Company.
It was a bold and desperate move, and enabled the promoters of paper companies to sell stock for several years longer.
Stock companies whose paper capital totalled more than $500,000,000 were organized to break it down; and from first to last the success of the telephone was based much less upon the monopoly of patents than upon the building up of a well organized business.
I told him my circumstances at large: that I was a widow come over from American, perfectly desolate and friendless; that I had a little money, and but a little, and was almost distracted for fear of losing it, having no friend in the world to trust with the management of it; that I was going into the north of England to live cheap, that my stock
might not waste; that I would willingly lodge my money in the bank, but that I durst not carry the bills about me, and the like, as above; and how to correspond about it, or with whom, I knew not.
Then the son sat down on the fox's tail, and away they went over stock and stone till their hair whistled in the wind.
Then the fox stretched out his tail, and so away they went over stock and stone till their hair whistled again.
COI is generally measured by reference to the portion of the acquirer stock
used as consideration in the transaction, as this represents a continued proprietary interest on the part of the target shareholders in the reorganized corporation.