When was it published?

December 23, 1833 in Phenix Gazette

Domestic News December 23, 1833

Phenix Gazette

Q: What entities or persons were involved?

Mr. Yoileman, Member From Isle Of Wight

Q: What keywords are associated?

Virginia Legislature, Stockholders Liability, Bill Rejection, Incorporated Companies

Alexandria, Virginia

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What is this article about?

Virginia Legislature rejected Mr. Yoileman's proposition from Isle of Wight to impose personal liability on stockholders for company debts, voting 41 ayes to 81 nays. Editorial hails it as averting ruinous policy that would stifle state improvements.

Clipping

OCR Quality

95% Excellent

Full Text

We congratulate all the friends of the prosperity of Virginia upon the rejection of the proposition submitted to the Legislature a few days since by the member from Isle of Wight, for making the Stockholders of Incorporated Companies answerable out of their private fortunes for the debts of the association. A more ruinous and mistaken policy never received the sanction of well-meaning men. Had the principle which he advanced been enacted into a Law we might have bid farewell to all improvement in Virginia. The vote on the question of adopting the measure of Mr. Yoileman was—ayes 41, nays 81.

What sub-type of article is it?

Politics

What keywords are associated?

Virginia Legislature Stockholders Liability Bill Rejection Incorporated Companies

What entities or persons were involved?

Mr. Yoileman Member From Isle Of Wight

Where did it happen?

Virginia

Domestic News Details

Primary Location

Virginia

Event Date

A Few Days Since

Key Persons

Mr. Yoileman Member From Isle Of Wight

Outcome

the proposition was rejected with ayes 41, nays 81.

Event Details

A proposition submitted to the Virginia Legislature by the member from Isle of Wight, Mr. Yoileman, to make stockholders of incorporated companies answerable out of their private fortunes for the association's debts was rejected. The editorial congratulates the rejection, calling the policy ruinous and mistaken, stating it would have halted improvements in Virginia.