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No public disapproval has been voiced against this system of no-par-value shares.
It would involve complex provisions, and, even so, would not prevent the manipulation of deceptive percentages by reference to the issue price of no-par-value shares.
I was the mover of the no-par-value clause.
I do not believe the vast mass of the public care very much about whether no-par-value shares are introduced or not.
The new corporation was capitalized at 5,000,000 preferred shares and 5,000,000 shares of no-par value common stock.
The no-par stock was changed to a par value of $10 and 400,000 shares were issued in 1924.
In modern practice, par value is an antiquated concept and no-par stock is increasingly common.
No-par stocks often require the board of directors of a company to determine a stated value when issuing no-par stock to replace the par-determined capital amounts.
