Identifier: stockexchangeinv00burn (find matches)
Title: Stock exchange investments in theory and practice; with chapters on the constitution and operations of the Bank of England and the national and local debts of the United Kingdom
Year: 1909 (1900s)
Authors: Burn, Joseph, 1871-
Subjects: Stock exchanges
Publisher: London, Layton
Contributing Library: University of British Columbia Library
Digitizing Sponsor: University of British Columbia Library

View Book Page: Book Viewer
About This Book: Catalog Entry
View All Images: All Images From Book
Click here to view book online to see this illustration in context in a browseable online version of this book.

Text Appearing Before Image:
ormore persons; that is, the shares are held in a joint account,as in the case of trustees. The several persons must eachsign the deed, and that is the reason why there are more thantwo seals on the form. Of course it may happen that eventhen there are not sufficient seals, and in that case more mustbe added or a fresh form with an increased numberobtained. The usual practice is for the broker, whennecessary, to prepare spaces for the extra signatures on theback of the form. You will perhaps be wondering what will happen in thecase of a large purchase by an Insurance Company when idelivery is by means of a deed of Transfer such as that justdescribed. The only difference is that the Corporation or Companyaffixes its Seal, the use of which is, so to speak, theofficial signature. This is usually impressed on the transfer f : tN •i » I s. I o > :J 3 fi p 2 • 0 • > s ; n o ffj ■ ^ 2 s O s c a o ^ c 3 0 *A
Text Appearing After Image:
k 147 deed with the authority and in the presence of eitlicr one ortwo Directors, who sign the document, which is then signed bythe Secretary of the Company. Althougli this is generallydone, however, the mere affixing of the seal of a corporationis all that is really necessary to make the transfer elfectiveand no witness (as in the case of a private person executinga transfer) is required to the act. A forged transfer confers no rights on the allegedtransferee, nor does the fact of a company issuing to him acertificate which acknowledges him as a shareholder do so.A subsequent purchaser, however, who relies upon this■certificate and not on the forged transfer, is entitled todamages for any loss he may suffer in consequence. Let metry to explain this a little more fully. Suppose A and B aretrustees holding £1,000 of stock in their joint names forthe benefit of C. B, without A^s knowledge, obtains thestock certificate and sells the stock to D, forging As signatureon the deed of trans

Note About Images