This study shows how a wave of private businesses became public through a distinct class of seven per cent, cumulative preferred stocks. By detailing the mechanics behind these flotations, the book reveals how goodwill, control, and capital were redefined in the modern corporation.

The material traces the rise of a new class of industrials, the role of investment bankers, and the strategic use of preferred and common shares. It explains why owners sold control and how investors interpreted the value of assets and earnings. The discussion stays grounded in practical finance, with careful analysis of real-world examples and their implications for market behavior.

How new flotations worked, including who issued stock and what was exchanged.
Why seven per cent cumulative preferred stock became a standard feature.
How the sale of common stock could represent the capitalization of goodwill.
How these structures affected risk, control, and long-term financing.

Ideal for readers of economic history and corporate finance, this edition clarifies a pivotal shift in how businesses grew and were funded.

"About this title" may belong to another edition of this title.

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