Watered stock
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Watered stock is an asset with an artificially-inflated value. The term most commonly refers to a form of securities fraud in which a company issues stock to someone before receiving at least the par
Jay Gould, as president of the Erie Railroad, notoriously issued watered stock to defeat a takeover attempt.
To indicate that the stock is not watered, this stock certificate declares the par value of $10 per share "full paid and non-assessable."
Philippine stock market board
James Fisk (financier)
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James Fisk Jr. was an American stockbroker and corporate executive who was one of the robber barons of the Gilded Age. He achieved much ill-fame for his role in Black Friday in 1869, where he and his
Watered stock
…par and no par stock, watered stock is less of an issue these days. In 1866–1868, during the so-called Erie War, Cornelius Vanderbilt was defrauded by James Fisk, Daniel Drew and Jay Gould, who sold $7,000,000 worth of watered stock to him in his attempt to acquire the Erie Railroad. In 1873, the Railway…
Edward Stiles Stokes