Catholics, Science and Civic Culture in Victorian Belfast

The connections between science and civic culture in the Victorian period have been extensively, and intensively, investigated over the past several decades. Limited attention, however, has been paid to Irish urban contexts. Roman Catholic attitudes towards science in the nineteenth century have also been neglected beyond a rather restricted set of thinkers and topics. This paper is offered as a contribution to addressing these lacunae, and examines in detail the complexities involved in Catholic engagement with science in Victorian Belfast. The political and civic geographies of Catholic involvement in scientific discussions in a divided town are uncovered through an examination of five episodes in the unfolding history of Belfast's intellectual culture. The paper stresses the importance of attending to the particularities of local politics and scientific debate for understanding the complex realities of Catholic appropriations of science in a period and urban context profoundly shaped by competing political and religious factions. It also reflects more generally on how the Belfast story supplements and challenges scholarship on the historical relations between Catholicism and science.

Corporate ownership and control in Victorian Britain

Using ownership and control data for 890 firm‐years, this article examines the concentration of capital and voting rights in British companies in the second half of the nineteenth century. We find that both capital and voting rights were diffuse by modern‐day standards. However, this does not necessarily mean that there was a modern‐style separation of ownership from control in Victorian Britain. One major implication of our findings is that diffuse ownership was present in the UK much earlier than previously thought, and given that it occurred in an era with weak shareholder protection law, it somewhat undermines the influential law and finance hypothesis. We also find that diffuse ownership is correlated with large boards, a London head office, non‐linear voting rights, and shares traded on multiple markets.

Prefab (and preserve): An investigation of retrofitting for Belfast's Victorian terraced social housing

This paper investigates the potential for the reuse of Belfast's existing Victorian terraced housing. The aim is to study methods behind retrofitting these unique pieces of architectural heritage, bringing them up to modern day standards with reduced energy costs and CO2 emissions in line with the Climate Change Act of 2008 (‘the Act’). It also highlights the characteristics of sustainable retrofitting examples and original prefabricated element, which enable the 19th-century properties to be re-adapted to suit modern day needs. The analysis builds on a report by Mark Hines Architects, in association with SAVE Britain's Heritage,1 in which the company explains the detrimental effect that the ‘Pathfinder’ scheme has had on English cities. Similarly, in Belfast, redevelopment schemes such as that in the ‘Village’ district have intended to replace undervalued terraced housing stock, and search for more sustainable options to retain these homes along with with the embodied energy and traditions attached to them.

Managerial failure in mid-Victorian Britain?: Corporate expansion during a promotion boom

This article examines the mid-1840s expansion of the British railway network, which was associated with a large deterioration in shareholder value. Using a counterfactual approach and new data on railway competition, we argue that the expansion of the railway companies, and their subsequent decline in financial performance, was not due to managerial failure. Rather, the promotion of new routes by established railways and mergers with other companies was part of a managerial strategy to maintain incumbent positions, and may have been preferable to not expanding whilst their competitors did.

Active Controllers or Wealthy Rentiers?: Large Shareholders in Victorian Public Companies

This article addresses the issue of whether large shareholders in Victorian public companies were active in the control of companies or were simply wealthy rentiers. Using ownership records for 890 firm-years, we examine the control rights, socio-occupational background, and wealth of large shareholders. We find that many large shareholders had limited voting rights and neither they nor family members were directors. This implies that the majority of public companies in the second half of the nineteenth century cannot be characterized as family companies and that large shareholders are better viewed as wealthy gentlemen capitalists rather than entrepreneurs.

The Victorian Press and the Fairy Tale (paperback)

Victorian writers often claimed that the press was killing the fairy tale. In fact, it ensured the genre's popularity, bringing literary tales and folklore to the first mass readerships. Exploring penny weeklies, adult and children's monthlies, little magazines and the labour press, this innovative study is the first to combine media and fairy tale history. Bringing reading communities back into focus, Sumpter explores ingenious political uses of the fairy tale: in debates over socialism, evolution and race, and in the context of women's rights, decadence and gay culture. The book offers new insights into the popularisation of folklore and comparative science, and also recovers neglected visual material. From the fantasies of Kingsley, MacDonald and J. H. Ewing to the writings of Keir Hardie, Laurence Housman and Yeats, Sumpter reveals that the fairy tale was intimately shaped by the press, and that both were at the heart of nineteenth-century culture.

The paperback edition includes a new Preface.

Corporate Ownership, Control, and Firm Performance in Victorian Britain

Scholars have long debated whether ownership structure matters for firm performance. The standard view with respect to Victorian Britain is that family-controlled companies had a detrimental effect on operating profit and shareholder value. Here, we examine this view using a hand-collected corporate ownership dataset. Our main finding is that it was not necessarily the broad structure of corporate ownership that mattered for performance, but whether family blockholders had a governance role. Large active blockholders tended to increase operating performance, implying that they reduced managerial agency problems. In contrast, we find that directors who were independent of large family owners were more likely to increase shareholder value.

Victorian Theatrical Burlesques

The first critical edition of Victorian theatrical burlesques, with an extensive critical and historical overview of the genre.

Who Financed the Expansion of the Equity Market? Shareholder Clienteles in Victorian Britain

Who financed the great expansion of the Victorian equity market, and what attracted them to invest? Using data on 453 firm-years and over 172,000 shareholders, we find that the largest providers of capital were rentiers, men with no formal occupation who relied on investment income. We also see a substantial growth in women investors as time progressed. In terms of clientele effects, we find that rentiers invested in large firms, whilst businessmen were the venture capitalists of young, regional enterprises. Women and the middle classes preferred safe investments, whilst financiers and institutional investors were speculators in foreign companies. Our results may help to explain the growth of new types of assets catering for particular clienteles, and the development of managerial policies on dividends and share issues.