This section is from the book "Business Finance", by William Henry Lough. Also available from Amazon: Business Finance, A Practical Study of Financial Management in Private Business Concerns.
Another point to consider here is the great number of persons interested in corporations as holders of their stocks and bonds. Recently, 195 companies have reported to the Wall Street Journal a total of 779,054 stockholders. This takes no account of bondholders. There is, of course, a vast amount of duplication due to the fact that the lists of these 195 companies are not checked against each other, and one man may be a stockholder in a great many different companies. Even making this deduction, it is clear that American corporations have a great number of stockholders. On a smaller scale, the same thing is true in other countries. It constitutes one sound reason for saying that the corporate form of organizing enterprises is becoming one of the far-reaching factors in modern business life.