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" No railroad corporation shall issue any stock or bonds, except for money, labor or property actually received and applied to the purposes for which such corporation was created; and all stock dividends, and other fictitious increase of the capital stock... "
Debates of the Convention to Amend the Constitution of Pennsylvania ... - Página 153
por Pennsylvania. Constitutional Convention - 1873
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A History of American Law: Third Edition

Lawrence M. Friedman - 2005 - 640 páginas
...business."5 Other states adopted similar rules. The Illinois Constitution of 1870 stated that "no railroad corporation shall issue any stock or bonds, except...purposes for which such corporation was created." Outlawed too were "all stock dividends, and other fictitious increase of capital stocks or indebtedness"...
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