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21-539: The Medfield Social Library (est.1786) was a proprietary library in Medfield, Massachusetts . It incorporated in 1809. By 1816 it consisted of some 700 volumes, among them The Panoplist , Mary Pilkington 's Mirror for Females , Susanna Rowson 's Invisible Rambler , Claude-Étienne Savary 's Letters on Egypt , Scott's Lessons in Reading , and George Staunton 's Embassy to China. Librarians included "Dr. Prentiss." As of

42-906: A public library , access was often restricted to members. Some of the earliest such institutions were founded in Britain, such as Chetham's Library in 1653, Innerpeffray Library in 1680 and Thomas Plume's Library in 1704. In the American colonies , the Library Company of Philadelphia was started in 1731 by Benjamin Franklin in Philadelphia, Pennsylvania . By paying an initial fee and annual dues, members had access to books, maps, fossils, antique coins, minerals, and scientific instruments. This library began with 50 members, swelled to 100 quickly, and then grew prosperous enough to begin to publish its own books. When

63-408: A share (sometimes referred to as stock or equity ) is a unit of equity ownership in the capital stock of a corporation. It can refer to units of mutual funds , limited partnerships , and real estate investment trusts . Share capital refers to all of the shares of an enterprise. The owner of shares in a company is a shareholder (or stockholder) of the corporation . A share expresses

84-598: A catalogue of 690 plays which he claimed to be ready to lend "upon reasonable considerations" from his premises in Westminster . Circulating libraries charged subscription fees to users and offered serious subject matter as well as the popular novels, thus the difficulty in clearly distinguishing circulating from subscription libraries. Occasionally subscription libraries called themselves 'circulating libraries', and vice versa. Many ordinary circulating libraries might call themselves 'subscription' libraries because they charged

105-434: A subscription, while the earliest private subscription libraries, such as Leeds , Warrington , or Liverpool, describe themselves as 'circulating' libraries in their titles. Since many circulating libraries called themselves after the town where they were situated, it is often difficult to distinguish the type of a particular library, especially since many are only known to posterity from a surviving book label, with nothing but

126-541: A system such as CREST or DTCC , a central securities depository . As of May 2022, the United States Supreme Court was considering the case of Slack Technologies, LLC v. Pirani , with regard to whether Sections 11 and 12(a)(2) of the Securities Act of 1933 require plaintiffs to plead and prove that they acquired shares of stock registered under and traceable to the registration statement they claim

147-432: The subscribers , chose books for the collection that were general, rather than aimed at a particular religious, political or professional group. The books selected for the collection were chosen because they would be mutually beneficial to the shareholders. The committee also selected the librarians who would manage the circulation of materials. Subscription libraries were also referred to as 'proprietary' libraries due to

168-478: The "true value" of shares at that particular time. A minority discount is usually applied when valuing a minority shareholding (less than 50%), where ownership of the shares offers limited control over the business if this is held by a majority shareholder. Tax treatment of dividends varies between tax jurisdictions. For instance, in India , dividends are tax free in the hands of the shareholder up to INR 1 million, but

189-552: The 1880s "a remnant" of the library was reportedly "stored at the town farm." This article relating to library science or information science is a stub . You can help Misplaced Pages by expanding it . Proprietary library In the 18th century, there were virtually no public libraries in the sense in which we now understand the term i.e. libraries provided from public funds and freely accessible to all. Only one important library in Britain, Chetham's Library in Manchester,

210-923: The Continental Congress met in Philadelphia, they did so in the same building as Franklin's Library Company and delegates were given member privileges for the library. Franklin's subscription library became so popular that many subscription libraries were founded in the colonies, making him remark that it was, "the mother of all the North American subscription libraries, now so numerous". The first subscription library in Canada, The Quebec Library/Bibliotheque de Quebec, opened in 1783. The materials available to subscribers tended to focus on particular subject areas, such as biography , history , philosophy , theology and travel , rather than works of fiction, particularly

231-443: The advent of free public libraries in the 19th century, most subscription libraries were replaced or taken over by the governing authorities. In London, numerous scientific dabblers , amateurs, professionals concentrated in the comparatively small geographic area began to form a unique development – the learned society : These societies are voluntary associations of men and women who have come together because they are interested in

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252-529: The aims and objects which the societies serve and they feel that they can pursue those interests better as members of a society, rather than as individuals. The libraries therefore have been collected together for the purpose of serving the objects to which the various societies are dedicated and they do this, for the most part, by serving their members. Learned society libraries were private but were owned by larger groups of people. Materials were often lent or borrowed by qualified individuals or institutions outside

273-427: The company paying the dividend has to pay dividend distribution tax at 12.5%. There is also the concept of a deemed dividend , which is not tax free. Further, Indian tax laws include provisions to stop dividend stripping . Historically, investors were given share certificates as evidence of their ownership of shares. In modern times, certificates are not always given and ownership may be recorded electronically by

294-417: The expectation that subscribers not only pay an annual fee, but that they must also invest in shares . These shares could be transferred by sale, gift or bequest . Many could not afford to purchase shares to become a member, even though they may have belonged to reading clubs . The increasing production and demand for fiction promoted by rising literacy rates and the expansion of commercial markets, led to

315-474: The name as identification. In Britain there were more than 200 commercial circulating libraries open in 1800, more than twice the number of subscription and private proprietary libraries that were operating at the same time. Many proprietors pandered to the most fashionable clientele, making much ado about the sort of shop they offered, the lush interiors, plenty of room and long hours of service. "These 'libraries' would be called rental collections today." With

336-455: The novel. Subscription libraries were democratic in nature; created by and for communities of local subscribers who aimed to establish permanent collections of books and reading materials, rather than selling their collections annually as the circulating libraries tended to do, in order to raise funds to support their other commercial interests. Even though the subscription libraries were often founded by reading societies , committees, elected by

357-546: The ownership relationship between the company and the shareholder. The denominated value of a share is its face value, and the total of the face value of issued shares represent the capital of a company, which may not reflect the market value of those shares. The income received from the ownership of shares is a dividend . There are different types of shares such as equity shares, preference shares, deferred shares, redeemable shares, bonus shares, right shares, and employee stock option plan shares. Shares are valued according to

378-518: The rise of circulating libraries , which met a need that subscription libraries did not fulfill. William Bathoe opened his commercial venture at two locations in London in 1737, and claimed to have been 'the Original Circulating library'. An early circulating library may even have been established in the mid-17th century; in an edition of "Tom Tyler and his Wife" in 1661 Francis Kirkman included

399-642: The society. Societies were concerned mainly with the sciences, physical and biological, and often cooperated with other groups like the Royal Society . Exclusive subscription libraries, the world's oldest being the Chemical Society in London, was founded in 1841 for the general advancement of chemistry . Its primary objective was to guide and direct original research in chemistry and to disseminate that knowledge through debates , lectures and its own journal . Share (finance) In financial markets ,

420-428: The various principles in different markets , but a basic premise is that a share is worth the price at which a transaction would be likely to occur were the shares to be sold. The liquidity of markets is a major consideration as to whether a share is able to be sold at any given time. An actual sale transaction of shares between buyer and seller is usually considered to provide the best prima facie market indicator as to

441-569: Was fully and freely accessible to the public. However, during the century, there came into being a whole network of library provision on a private or institutional basis. The increase in secular literature at this time encouraged the establishment of commercial subscription libraries. Many small, private book clubs evolved into subscription libraries, charging high annual fees or requiring subscribing members to purchase shares. Subscription libraries would in turn use these earnings to expand their collections and later create their own publications. Unlike

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