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Ch. 10: The Essential Combination

Ch. 10: The Essential Combination Page of 449 Ch. 10: The Essential Combination Text size:minus plus Restore normal size   Mail page  Print this page
300 THE DIAMOND MINES OF SOUTH AFRICA
of whom shall be Cecil John Rhodes, Barnett Isaac Barnato, Frederick Samuel Philipson Stow, and Alfred Beit." If "so minded," these four had the power by unanimous resolution of themselves or their survivors to appoint the fifth authorized " life governor," and to fill any vacancy occurring in their number by reason of death or otherwise. These four were further constituted the first directors of the Company, and had
power to appoint other directors, if they so desired, to act in conjunction with them until the first ordinary general meeting of the Company, when the shareholders were called upon to de­termine how many directors there should be besides the life governors, and to elect " such number as they determine to be necessary."
From the point of view of ordinary investors in ordinary stock companies the unlimited sweep of this unique organization and the powers confided to its controlling directors may be
Ch. 10: The Essential Combination Page of 449 Ch. 10: The Essential Combination
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