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About Albany daily democrat. (Albany, Or.) 1888-192? | View Entire Issue (Aug. 23, 1889)
"I.1M1TKIV C'OHrilKATlONS. It lia become lomewhat common now-a-davsto see the word "limited," in paren thesis, after the titles of corporations, and It is safe to s&r thai people generally do not understand the significance of the term ; though, of coui v, business men do. An explanation of It may, thcrefore.be cf general Interest, The old principle of corporations, created by legislative act, u as that the entire property of every stock holder was liable for the whole of the company, as the whole property of every member of a general partnership Is still liable for the debte of the firm. This sys tem made every shareholdei responsible forbad management, of which he may not be guilty, and deterred wealthy men from becoming interested in the shares of corporations. To remove this objecticn he principle of limited responsibility was introduced, and In order to notify the pub lie that only the separate property of the corporation was liable for the debts of the corporation, the English law requires that the word "limited" shall be used in every case by the company in connection with its title. Most American corporations are con stituled on the principle of limited liabili ty ; but few, if any, of the states enjoin the companies formed under their laws to append the word "limited" to their corpor ate titles. The matter Is so generally un derstood in this country by business men, however, that it is not deemed necessary, though many companies do it of their own accord. The most noteworthy exception to the general rule Is the case of the nation al bank, but even In this Instance liability is limited to an amount equal to the par value of the shares held ; that is, if the national bank fails, each stockholder may not only lose what he has invested, but $100 more for each share of the stock lie holds, if so much is necessary to pay the debts of the bank. Until within a few years ail the Scottish banks were organized with unlimited lia bility, and when, some eight or ten years ago, a Glaicow bank failed disastrously there were cases of men who only owned a share or two, valued before the failure at not more than $100, who were assessed thousands of pounds sterling to meet the debts of the bank. Since that time the Scottish banks have been allowed to reorg anize on a limited liability basis. lUd Rock Democrats MOKE VITUI'KICATIO.N. The Oreqoman in a criticism of Terry, his antecedent life, and the cuhnlnaiion of his overthrow, takes occasion to throw an unnecessary and uncalled for fling in say ing, "What Terry has been, well represents the character and history of the democrat ic party of the United States." This Is putting matters in wild juxtaposition, and has no truth or semblance of truth in the declaration. The man Is a base unprinci pled partisan, lacking in honor and integ rity to assume in this age of the world, that a life characterized by violence and crime has kinship to any party, and he only illus trates blind and stupid political rancor to declare It. There was no occasion to go out of ills way to basely insult more than 30,000,000 of people, a majority of the population of these United 8tates. Similar attacks emanate only from the most bigoted par tisans. Scott's abominable venom and his assistant's porcine characteristics no more represent the character and history of the republican party, than what Terry had been, represented the democratic party SunJay Wdnme. The long controversy at Standing Rock, Da., has ended, as was expected, by the Sioux Indians signing the papers that sell to the United States 11,000,000 acres of their lands, lying between the settled por tions of the new state and the Black Hill regions. These lands are considered even more valuable than the Oklahoma strip, about which there has long been so much fluster among those seeking available homes free of cost. The new land will probably soon be opened to settlement. It embraces half of the present Sioux reser vation, all that Is left of an immense terri tory embracing the states of Dakota and Minnesota, and probably more. Silting Dull, who headed the war against the set tlers a few years ago, held out to the lost against selling, but the required two-thirds vote was secured w ithout him. The In dians get $1.15 per acre for this land, tak ing their pa n bon.U, which are held in trust fur them, and the Interest of which Is paid them. They have still more good land than they need, and the money invest ed for them Is much more helpful to them than more land could be. In this the In dians are very like many other land hold ers who are land poor. A gentleman whohad suffered greatsnnoy ance and pain from barbers itch, and who hail been treated by the best phjsie-an, without relief, says that twn buttles of DuUril'i Speeilio cured bini and left his face perfectly smooth, without a scar. It neverfiUi inskia diseases, Sold hv Foshay k Mason. WrigSl ' Myrrh tooth np comes off con queror every time yon have "a brush" .with it. Death to tartsr and decay. .S.I I by foshay & Mann. "The best way to can corn is to cut it from the cob and boll it in the cans. If the water is heated gradually the cans will not break. Place the cans filled with corn in a wash boiler, in the bottom of which a cloth has been p'.aced, to keep the glass from coming into contact with the metal. Press the corn tightly in the jars.and cover loosely, so as to allow air to escape . Boil thoioughly, and after the air Is entirely expelled, seal tightly. If corn Is boiled outside the cans, more or less air is intro duced into them when filled, anj a very little air soon spoils the contents. Can ning is much more expensive than drying corn, and if the latter is prepared only from young a nd tender cars it is nearly as good. Dr. M. H. Ellis, phvsiciau aad surgeon VlVacy, Oregon. Calls mado in city ot SEW ADVERTISEMENTS. k SSEiOK'S NOTICE. -Moticeis here. j by given that the Board uf Equali zation will attend at the ofHce of tho County Clerk, in Albany, Linn county, Oregon, on Monday, the 9th day of Sep tember, 1SS9, and publicly examine the assessment rolls and coireet all errors in valuation, description 01 qualities of lands, lots or other property. Z. B. Mo-s, Assessor. DR. C A. WHITNEY, Physician and Surgeon. Graduate of Bellevue He pit at Medical College, New York City. Diseases of wo ma a a specialty. "Office, Fro man's Brick, Albany, Or. IOR SALE.-Four yoke and a half of goor work Oxen, together with yokes ami chains; are wll broke cattle, and will be ftold at a bargain for cash, being a part o: the Astnte of John Kobinett.de ceased. AppKto John W. Pupta. Admin istrator of the Estate at Shedd, Oregon. SAND, AC Persons desiring sand, loam or gravel frm the premises of F., L. Such in iienton county, ran procure tickets for the same at my ofli-je, Craw, ford's LJock, Albany, Oregon. Cua$. K. Wolvekton. A reliable U. S. Standard 3-ton tcale, ouly $37. Delivered at your nearest rail ro id station free of freight on tnirty days trial. Larger scales at proportionately low (rices. Warranted five joars. Address, F. C. HOFFMAN, Albany, Oregon NOTICE OF DISSOLUTION OF PART NERSHIP. The partnership hereto fore existing uuder the firm name of Wallace. Thompson & Co., wherein T L Wallace, W S Thompson L Forest, of the city of AI -bany, LiDn county, Oregon, were general Bsrtners, i.tlii the 7th day of August, A. . 1S89, dasi.lvtd l.y mutual consent, T h Wallace, retiring. Tue business will be con. ducted at the same place by W S Thompson sad K LxFoiest, undvr tho tirin name, La Forest & Thompson, wl.o will assume all li abilities and collect alt accouuts due the firm. Dated this Tth day of August, 1889. T. L. Wallace, W. S.Thohiyox, E. LaFokest. OLD IRON. Fifty tons of old iron eastings, in any quantity, wanted immediately at the Albany Ircn Works. J. J.DORRIS, Abstractor and Conveyancer, JfTOIll.-e at theJCourt House, 5 SPECIALTIES. CLOTHING Fashionable and Stylish Suits-, Business Suits, Light weight Summer Suits. Boys, youth's and children's suits. Furnishing Goods Fine line of light weight underwear balbriggan and woolen ; 6 osier y, fchitts neckwear, see wire suspenders, guaranteed lor two jisib all the latest novelties. BOOTS AND SHOES. A large line in this department of the best in the market. HATS Staple and Fashionable lines, among others a fine stock of the John B. Stetson hats. Tailoring Merchant tailoring under expert tailor. Suits made to order under short notice at remarkable low figures. More goods tumed out than ever before. L. E. BLAI. 5 Stick a Pin At Cost Most TO MAKE ROOM FOR MY LARK STOCK OF FALL AND WINTER COODS l WILL otLL MT ENTIRE STOCK OF BOOTS AND SHOES. AT OOST. THIS WILL BE A CLOSING OUT SALE, AND TKEYIMUST CO. COME EARLY AND CET Real Bargains. AT THE SAME TIME DO NOT EORCET THAT I HAVE A COMPLETE STOCK OF DRY GOODS Notions, Furbishing- Goods, etc, WOULD ESPECIALLP CALL POUR ATTENTION TO THE FOLLOWING LINES: Dress Goods, Trimmings, Silk, Table Linen, Gloves, Hosie- ' ry, Fancy Goods, etc ALL AT LOWEST CASH PRICE-RESPECTFULLY, W. F. READ, The Leading Cask Dry Goods Store T HE FA3IOUS Wire Buckle Suspender WARRANTED. in the fact that X am offering better bargains than any one else in Albany Bought at bankrupt sales I ean sell First-Class Goods. at or below COST. FOR niW'i For sale only by General merchandise of all kinds call on me. ParlisnUk..:.. : ofsboe. .---Bji Cash for Goods or Country prtdite Gr W. SIMPSON Albany, Oregoi. I.E. BUM, FOR THE BEST FURNITURE CALL 02 THE Albany Furniture Company 0PP0S1TK STEWART A SOX'S, BED ROOM-SETS, TABLES, CHAIRS, UPHOLSTERED GOODS.VWALL ? 5, BABY CARRIAGES ETC. ETC..ET IIA-WIdrVS & FAItRELL MATTHEWS WASHBURN Cany a first-class stock of Stoves, Tinware,Hardware,Etc, WMcb they are selling at remark alby low prices. JOB WORK carefully and promptly done at reasonable prices, Hopkins & saltmarsh " " DSALEi'.S IN ' STOVES; TIN WARE, SHEET IRON, COPPER WtfP ETC,, ETC. Agents for "On Time" Heating and cooking Stoves. Job work, plurablnf etc., promptly atfMdad 4or - CHEAPEST AND BEST PLACE IN THE CITY PURE DRUGS,' Paints,. Oils, Stations, Etc., AntL Prompt attenon DR. GUISS & SONS
