Bulletin HASKINS & SELLS 71
Solution to Non-Par Value
Stock Problem
THE State of New York, under date of
April 15, 1912, passed a law (Laws
of the State of New York, 1912, Chapter
351) known as the Non-Par Value Stock
Law. It grew out of the practice of "watering"
stock, and was offered as a remedy
for same. While the law has been in force
several years, comparatively few newly organized
corporations have taken advantage
of its provisions. The law relates
only to common stock, and provides generally
as follows:
Any corporation at formation or reor-
(To be continued)
