BANKING TRADE AND COMMERCE

JOINT STOCK COMPANIES

In the absence of any proper records it is difficult to trace the gradual evolution of the joint stock companies in Bhandara district. As elsewhere they appear to have developed out of the partnership or proprietary type of concerns. The latter as a matter of fact, required a good deal of capital, not easy for a single individual to supply. Credit, too, was not obtainable unless complete security could be provided to the creditor. Partnership was a still more difficult form of operation because it depended for its success upon smooth co-ordination amongst the members concerned. The joint-stock companies, as they exist to-day, therefore, came up as a more suitable form of business organisation through which instability in the business could be reduced to a great extent.

The following statement gives the details about the companies in Bhandara district: —

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