Protective Committee

When an enterprise becomes a losing one, and bankruptcy or reorganization is inevitable, security holders are often invited to place their interests in the control of several men who are expected to act for their protection. If another faction is apparently trying to secure the control of the property to reorganize it upon lines contrary to the welfare of a certain class or all of the security holders, a committee acting in behalf of the latter might be termed a "protective committee." Its name should indicate its purpose. Thus, there may be both a "protective" and a "reorganization committee" (see that subject) in connection with the same property and at the same time.


This may be better understood by first reading "Board of Trade of the City of Chicago." "Provisions," on the Board of Trade, includes all packing house products, but as speculative dealing is confined to Pork, Lard and Short Ribs, those products are usually understood when "Provision" dealing is mentioned.

Reclamation Bonds

Issued for the purpose of raising funds to defray cost of draining, dyking and in other ways reclaiming land for agricultural purposes, which lands are flooded during the rainy season, when the rivers overflow their natural channels, or which are otherwise submerged all or part of the time.

Issued as "special assessment" district obligations, or by private corporations, when the land reclaimed becomes security for the bonds.

A Reclamation District is a territorial sub-division organized under State laws, similar to a "school district." It is governed by a board of Trustees, having authority to acquire property, employ engineers, adopt plans for reclamation, and incur indebtedness. The bonds are paid off from assessments levied against the land in the district.

Record a Mortgage. See last paragraph of "Mortgage."

Register a Mortgage. The same as to "record a mortgage." See last paragraph of "Mortgage."

Registered Terminal Receipt

See "Warehouse Receipt" which is the same as "Terminal Receipt."

Registrar of Joint-stock Companies. In newspaper advertisements, in Great Britain, of a public issue of securities in which an abridged prospectus is usually given - and in the larger prospectus usually appears the statement that a copy of the latter has been filed with the Registrar of Joint-stock Companies. This indicates that the prospectus comes under the laws of the Joint-stock Companies' Acts (see that subject), and that those who drafted it are liable for the accuracy of its statements. When a prospectus has not been filed as above, less liability is incurred by those who are responsible for its emission than otherwise would be the case. Consequently, a prospectus which has been filed with the Registrar of Joint-stock Companies should command more favorable attention than one in which this step has been omitted. (See also "Companies ' Consolidation Act, 1908.")