Wider share ownership?: investors in English and Welsh Bank shares in the nineteenth century

The joint-stock banks that established after the liberalizing legislation of 1826 were periodically criticized during the nineteenth century for their low-quality and rapidly deteriorating shareholder constituencies. The quality of a bank's shareholding constituency was of paramount importance because of unlimited shareholder liability. Using archival records, this article examines the quality of bank shareholder constituencies over the nineteenth century. The main finding is that shareholder constituencies did not deteriorate in quality until the introduction of limited liability. The non-deterioration of constituencies is attributed to bank deeds which locked in the aggregate quality of shareholder constituencies by empowering directors to vet all share transfers.

'In the Service of the Honourable East India Company': Politics and Identity in Dean Mahomet's Travels (1794)

The successful career of Dean Mahomet (1759-1851) as a migrant from India to Ireland (and later, England) has led to scholarly and popular interest in his work. His Travels through several parts of India in the Service of the Honourable East India Company (1794) published by subscription in Cork is reputedly the first English book by an Indian, and has been seen to counterbalance the many accounts of India by western travellers, and to assert, in autobiographical form, his identity as an Indian in 1790s Ireland. My paper analyses this text in relation to moral and economic criticisms of the East India Company in the eighteenth century, and in particular to legislation of 1793 which defined the role of the Company in Ireland’s trade with the east. These aspects of colonial politics involving Ireland and India as subject nations of Britain are shown to shape Mahomet’s discursive strategies and the complex identity produced in his text.

Romanticism and Blackwood's Magazine:'An Unprecedented Phenomenon'

Romanticism and Blackwood's Magazine is inspired by the ongoing critical fascination with Blackwood's Edinburgh Magazine, and the burgeoning recognition of its centrality to the Romantic age. Though the magazine itself was published continuously for well over a century and a half, this volume concentrates specifically on those years when William Blackwood was at the helm, beginning with his founding of the magazine in 1817 and closing with his death in 1834. These were the years when, as Samuel Taylor Coleridge put it in 1832, Blackwood's reigned as 'an unprecedented Phenomenon in the world of letters.' The magazine placed itself at the centre of the emerging mass media, commented decisively on all the major political and cultural issues that shaped the Romantic movement, and published some of the leading writers of the day, including Coleridge, Thomas De Quincey, John Galt, Felicia Hemans, James Hogg, Walter Scott, and Mary Shelley.

'This much-needed volume reminds us not only why Blackwood's was the most influential periodical publication of the time, but also how its writers, writings, and critical agendas continue to shape so many of the scholarly concerns of Romantic studies in the twenty-first century.' - Charles Mahoney, Associate Professor, University of Connecticut, USA

List of Illustrations
Acknowledgements
Abbreviations
Notes on Contributors
'A character so various, and yet so indisputably its own': A Passage to Blackwood's Edinburgh Magazine; R.Morrison & D.S.Roberts
PART I: BLACKWOOD'S AND THE PERIODICAL PRESS
Beginning Blackwood's: The Right Mix of Dulce and Ùtile; P.Flynn
John Gibson Lockhart and Blackwood's: Shaping the Romantic Periodical Press; T.Richardson
From Gluttony to Justified Sinning: Confessional Writing in Blackwood's and the London Magazine; D.Higgins
Camaraderie and Conflict: De Quincey and Wilson on Enemy Lines; R.Morrison
Selling Blackwood's Magazine, 1817-1834; D.Finkelstein
PART II: BLACKWOOD'S CULTURE AND CRITICISM
Blackwood's 'Personalities'; T.Mole
Communal Reception, Mary Shelley, and the 'Blackwood's School' of Criticism; N.Mason
Blackwoodian Allusion and the Culture of Miscellaneity; D.Stewart
Blackwood's Edinburgh Magazine in the Scientific Culture of Early Nineteenth-Century Edinburgh; W.Christie
The Art and Science of Politics in Blackwood's Edinburgh Magazine, c. 1817-1841; D.Kelly
Prosing Poetry: Blackwood's and Generic Transposition, 1820-1840; J.Camlot
PART III: BLACKWOOD'S FICTIONS
Blackwood's and the Boundaries of the Short Story; T.Killick
The Edinburgh of Blackwood's Edinburgh Magazine and James Hogg's Fiction; G.Hughes
'The Taste for Violence in Blackwood's Magazine'; M.Schoenfield
PART IV: BLACKWOOD'S AT HOME
John Wilson and Regency Authorship; R.Cronin
John Wilson and Sport; J.Strachan
William Maginn and the Blackwood's 'Preface' of 1826; D.E.Latané, Jr.
All Work and All Play: Felicia Hemans's Edinburgh Noctes; N.Sweet
PART V: BLACKWOOD'S ABROAD
Imagining India in Early Blackwood's; D.S.Roberts
Tales of the Colonies: Blackwood's, Provincialism, and British Interests Abroad; A.Jarrells
Selected Bibliography
Index

ROBERT MORRISON is Queen's National Scholar at Queen's University, Kingston, Ontario, Canada. His book, The English Opium-Eater: A Biography of Thomas De Quincey was a finalist for the James Tait Black Prize. He has edited writings by Jane Austen, Leigh Hunt, Thomas De Quincey, and John Polidori.
DANIEL SANJIV ROBERTS is Reader in English at Queen's University Belfast, UK. His publications include a monograph, Revisionary Gleam: De Quincey, Coleridge, and the High Romantic Argument (2000), and major critical editions of Thomas De Quincey's Autobiographic Sketches and Robert Southey's The Curse of Kehama; the latter was cited as a Distinguished Scholarly Edition by the MLA. He is currently working on an edition of Charles Johnstone's novel The History of Arsaces, Prince of Betlis for the Early Irish Fiction series.

Time-dependent three-dimensional spectrum synthesis for Type Ia supernovae

A Monte Carlo code (artis) for modelling time-dependent three-dimensional spectral synthesis in chemically inhomogeneous models of Type Ia supernova ejecta is presented. Following the propagation of ?-ray photons, emitted by the radioactive decay of the nucleosynthesis products, energy is deposited in the supernova ejecta and the radiative transfer problem is solved self-consistently, enforcing the constraint of energy conservation in the comoving frame. Assuming a photoionization-dominated plasma, the equations of ionization equilibrium are solved together with the thermal balance equation adopting an approximate treatment of excitation. Since we implement a fully general treatment of line formation, there are no free parameters to adjust. Thus, a direct comparison between synthetic spectra and light curves, calculated from hydrodynamic explosion models, and observations is feasible. The code is applied to the well-known W7 explosion model and the results tested against other studies. Finally, the effect of asymmetric ejecta on broad-band light curves and spectra is illustrated using an elliptical toy model. © 2009 RAS.

Why Do Firms Pay Dividends?: Evidence from an Early and Unregulated Capital Market

Why do firms pay dividends? To answer this question, we use a hand-collected data set of companies traded on the London stock market between 1825 and 1870. As tax rates were effectively zero, the capital market was unregulated, and there were no institutional stockholders, we can rule out these potential determinants ex ante. We find that, even though they were legal, share repurchases were not used by firms to return cash to shareholders. Instead, our evidence provides support for the information–communication explanation for dividends, while providing little support for agency, illiquidity, catering, or behavioral explanations. © The Authors 2013. Published by Oxford University Press [on behalf of the European Finance Association]. All rights reserved.

Exposición Internacional 1910. Buenos Aires.: Didactic leisure and international recognition

International exhibitions were greatly responsible for the modernization of western society. The motive for these events was based on the possibility of enhancing the country’s international status abroad. The genesis of world exhibitions came from the conviction that humanity as a whole would improve the continual flow of new practical applications, the development of modern communication techniques and the social need for a medium that could acquaint the general public with changes in technology, economy and society .
Since the first national industrial exhibitions in Paris during the eighteenth century and especially starting from the first Great Exhibition in London’s Hyde Park in 1851 these international events spread steadily all over Europe and the United States, to reach Latin America in the beginnings of the twentieth century . The work of professionals such as Daniel Burnham, Werner Hegemann and Elbert Peets made the relation between exhibitions and urban transformation a much more connected one, setting a precedent for subsequent exhibitions.
In Buenos Aires, the celebration of the centennial of independence from Spain in 1910 had many meanings and repercussions. A series of factors allowed for a moment of change in the city. Official optimism, economical progress, inequality and social conflict made of this a suitable time for transformation. With the organization of the Exposición Internacional the government had, among others, one specific aim: to achieve a network of visual tools to set the feeling of belonging and provide an identity for the mixture of cultures that populated the city of Buenos Aires at the time. Another important objective of the government was to put Buenos Aires at the level of European cities.
Foreign professionals had a great influence in the conceptual and factual shaping of the exhibition and in the subsequent changes caused in the urban condition. The exhibition had an important role in the ways of thinking the city and in the leisure ideas it introduced. The exhibition, as a didactic tool, worked as a precedent for conceiving leisure spaces in the future. Urban and landscape planners such as Joseph Bouvard and Charles Thays were instrumental in great part of the design of the Exhibition, but it was not only the architects and designers who shaped the identity of the fair. Other visitors such as Jules Huret or Georges Clemenceau were responsible for giving the city an international image it did not previously have.
This paper will explore on the one hand the significance of the exhibition of 1910 for the shaping of the city and its image; and on the other hand, the role of foreign professionals and the reach these influences had.

A comparative study of biopolymers and alum in the separation and recovery of pulp fibres from paper mill effluent by flocculation

Recovery of cellulose fibres from paper mill effluent has been studied using common polysaccharides or biopolymers such as Guar gum, Xanthan gum and Locust bean gum as flocculent. Guar gum is commonly used in sizing paper and routinely used in paper making. The results have been compared with the performance of alum, which is a common coagulant and a key ingredient of the paper industry. Guar gum recovered about 3.86 mg/L of fibre and was most effective among the biopolymers. Settling velocity distribution curves demonstrated that Guar gum was able to settle the fibres faster than the other biopolymers; however, alum displayed the highest particle removal rate than all the biopolymers at any of the settling velocities. Alum, Guar gum, Xanthan gum and Locust bean gum removed 97.46%, 94.68%, 92.39% and 92.46% turbidity of raw effluent at a settling velocity of 0.5 cm/min, respectively. The conditions for obtaining the lowest sludge volume index such as pH, dose and mixing speed were optimised for guar gum which was the most effective among the biopolymers. Response surface methodology was used to design all experiments, and an optimum operational setting was proposed. The test results indicate similar performance of alum and Guar gum in terms of floc settling velocities and sludge volume index. Since Guar gum is a plant derived natural substance, it is environmentally benign and offers a green treatment option to the paper mills for pulp recycling.

Holding Shareholders to Account: British Banking Stability and Contingent Capital

This chapter seeks to explain the relative stability of the British banking system in terms of its capital structure. From 1826 joint-stock banking was allowed, but shareholder liability was jointly and severally unlimited. Limited liability banks were allowed from 1857–8, but these banks issued partly paid shares with an obligation on shareholders to subscribe for uncalled capital. Contingent capital meant that shareholders and managers would suffer losses in the event of failure and this discouraged risk shifting at the expense of note-holders and depositors. Although individual banks collapsed, the failure rate of banks (in terms of number or capital) did not reach a critical level—10 per cent—beyond which the payments system might have been threatened. This chapter argues that agency problems and systemic risk rose after the abolition of contingent share capital in 1958 and the deregulation of the banking sector in the 1970s.