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1 public limited company
(U.K.) Gen Mgta company in the United Kingdom that is required to have a minimum authorized capital of £50,000 and to offer its shares to the public. A public limited company has the letters “plc” after its name. In the United Kingdom, only public limited companies can be listed on the London Stock Exchange. -
2 closely held corporation
Fina company whose shares are publicly traded but held by very few people -
3 машина компании
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4 акции судоходных компаний
Русско-английский большой базовый словарь > акции судоходных компаний
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5 акции быстро растущих компаний
Русско-английский большой базовый словарь > акции быстро растущих компаний
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6 филиал компании
1. branch of a company2. subsidiary company -
7 ликвидировать компанию
Русско-английский большой базовый словарь > ликвидировать компанию
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8 earnings per share
Fina financial ratio that measures the portion of a company’s profit allocated to each outstanding share of common stock. It is the most basic measure of the value of a share, and also is the basis for calculating several other important investment ratios.EXAMPLEEPS is calculated by subtracting the total value of any preferred stock from net income (earnings) for the period in question, then dividing the resulting figure by the number of shares outstanding during that period.Net income – Dividends on any preferred stock/Average number of shares outstandingCompanies usually use a weighted average number of shares outstanding over the reporting period, but shares outstanding can either be “primary” or “fully diluted.” Primary EPS is calculated using the number of shares that are currently held by investors in the market and able to be traded. Diluted EPS is the result of a complex calculation that determines how many shares would be outstanding if all exercisable warrants and options were converted into shares at the end of a quarter.Suppose, for example, that a company has granted a large number of share options to employees. If these options are capable of being exercised in the near future, that could significantly alter the number of shares in issue and thus the EPS–even though the net income is the same. Often in such cases, the company might quote the EPS on the existing shares and the fully diluted version.Abbr. EPS -
9 Vorratsaktien
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10 Aktie
Aktie f BÖRSE, FIN, RW (BE) share, (AE) stock • Aktie sperren BÖRSE stop a stock • eine Aktie unter dem Nennwert emittieren BÖRSE issue a share at a discount from par value* * *f <Börse, Finanz, Rechnung> share (BE), stock (AE), equity ■ Aktie sperren < Börse> stop a stock ■ eine Aktie unter dem Nennwert emittieren < Börse> issue a share at a discount* * *Aktie
share (Br., Canada), stock (US), (Urkunde) share (Br.) (stock, US) certificate;
• Aktien corporate shares (stocks, US);
• zu einem Agio abgegebene Aktie premium stock;
• im Clearingverkehr abgerechnete Aktie clearinghouse stock;
• abgestempelte Aktien stamped (marked, Br.) shares;
• alte Aktie original stock;
• amortisierte Aktie redeemed stock;
• zusätzlich angebotene Aktien excess shares;
• ausgegebene Aktien shares outstanding, issued capital shares (stocks);
• neu ausgegebene Aktie baby (US sl.);
• über das genehmigte Aktienkapital hinaus ausgegebene Aktien overstocks (US);
• an Betriebsangehörige (die Belegschaft) ausgegebene Aktien staff shares, shares for the staff, employee’s shares, stock issued to employees;
• an den Gründer ausgegebene Aktie promoter’s stock;
• über dem Nennwert ausgegebene Aktien shares issued at premium;
• zum Nennwert ausgegebene Aktien shares issued at par;
• [noch] nicht ausgegebene Aktien unissued shares;
• in verschiedenen Serien ausgegebene Aktien classified stocks;
• an Strohmänner ausgegebene Aktien dummy shares;
• ausgeliehene Aktien shares loaned;
• mit Bezugsrecht ausgestattete Aktie stock carrying rights;
• ausländische Aktie foreign share (stock);
• effektiv im Besitz befindliche Aktie real (long) stock (US);
• begebene Aktie issued capital share;
• international beliebte Aktien international populars;
• im Sanierungsverfahren nicht beteiligte Aktien non-assented stocks;
• nicht bevorrechtigte Aktien deferred stocks;
• voll bezahlte Aktie paid-up (full-paid) stock;
• börsengängige (börsenfähige) Aktien stocks negotiable on the stock exchange, quoted (listed, US) stocks;
• börsennotierte Aktien quoted shares, shares quoted (Br.) (stocks listed, US) on the stock exchange;
• dividendenberechtigte Aktie participating share;
• nicht sofort dividendenberechtigte Aktie deferred stock;
• eigene Aktie reacquired bonds,own share, treasury stock;
• eingebrachte Aktie vendor’s share;
• amtlich eingeführte Aktien quoted shares, listed stocks, shares officially quoted (stocks listed) on the stock exchange;
• zur Einziehung eingelieferte Aktie surrendered share;
• eingetragene Aktie registered stock;
• eingezahlte Aktie paid-up stock;
• zu einem Drittel eingezahlte Aktie share on which one third has been paid;
• noch nicht eingezahlte Aktie partly paid [up] share;
• voll eingezahlte Aktie fully paid[-up] share, full-paid stock;
• eingezogene Aktie recalled share;
• endgültige Aktie definite share;
• erstklassige Aktien high-grade (gilt-edged) shares, glamor stocks, blue chips (US);
• fallende Aktien declining shares, sliding stocks;
• gängige Aktien active shares;
• garantierte Aktie guaranteed share;
• gebundene Aktie restricted share;
• gehandelte Aktien issues traded;
• unter einem Dollar gehandelte Aktien penny stocks (US);
• im Freiverkehr gehandelte (an der Freiverkehrsbörse notierte) Aktien shares traded over the counter, curb stocks;
• mit nur 1/4 des Pariwertes gehandelte Aktie quarter-stock;
• rege (lebhaft) gehandelte Aktien active stocks;
• im Wert geminderte Aktie share that shows a depreciation;
• gesplittete Aktien split-up stocks;
• unentgeltlich zur Verfügung gestellte Aktie donated stock;
• durch Käufe gestützte Aktien supported stocks;
• gewinnberechtigte Aktie participating share (stock), profit-sharing stock;
• gewöhnliche Aktie common share (Canada), ordinary stock;
• gezeichnete Aktien shares applied for, subscribed shares;
• nicht gezeichnete Aktien unsubscribed stocks;
• aus dem Verkehr gezogene Aktie withdrawn share;
• gleichrangige Aktien shares ranking pari passu;
• nur buchmäßig gutgeschriebene Aktien phantom stocks;
• herrenlose Aktie unclaimed share;
• hinterlegte Aktie deposited share (stock, US);
• im Sammeldepot hinterlegte Aktie assented stock;
• als Sicherheit hinterlegte Aktien shares lodged as collateral;
• inländische Aktien home (domestic) shares;
• junge Aktien new shares, junior issues (stocks);
• kaduzierte Aktien forfeited shares;
• kleingestückelte Aktie fractional share;
• kumulative Aktie cumulative share;
• kündbare Aktien callable stocks;
• auf den Inhaber lautende Aktie share warrant (stock certificate, US) to bearer;
• auf den Namen lautende Aktie registered share;
• lieferbare Aktien spots;
• lombardierte Aktie loaned share, stocks loaned;
• mehrstimmige Aktie stock entitling to a plural vote;
• mehrstimmige Aktie im Besitz der Direktion management stock;
• mündelsichere Aktie trustee stock;
• nachschuss- und umlagefreie Aktie non-assessable capital stock;
• nachschusspflichtige Aktie assessable stock;
• nicht nachschusspflichtige (nachzahlungsfreie) Aktie non-assessable capital stock;
• in voller Höhe nachschusspflichtige Aktie double-liability stock;
• nennwertlose Aktie no-par [value] share, unvalued share, non-par [value] stock;
• neue Aktien fresh (new, junior) shares, fresh (junior) stocks;
• Not leidende Aktie non-dividend-paying stock;
• notierte Aktien shares quoted on the stock exchange, quoted (listed) stocks;
• an der Börse nicht notierte Aktien displaced shares, unlisted stocks;
• an der Freiverkehrsbörse notierte Aktien curb stocks;
• rückkaufbare Aktien redeemable shares;
• spekulative Aktien speculative stocks;
• gut stehende Aktien shares at a premium;
• steigende Aktien advancing stocks;
• stimmberechtigte Aktie voted stock;
• nicht stimmberechtigte (stimmrechtlose) Aktie non-voting share, A-share;
• stimmrechtslose festverzinsliche Aktien non-voting fixed-interest shares;
• südafrikanische Aktien South Africans (Br.);
• teilbezahlte Aktien partly paid shares;
• überemittierte (ungültige) Aktie overissue stock;
• übertragbare Aktien negotiable stocks;
• formfrei übertragene Aktie street certificate (US);
• umtauschfähige Aktie convertible stock;
• unverwertete Aktie unissued share;
• auf Baisse verkaufte Aktie short stock;
• jederzeit verkäufliche Aktie unrestricted stock;
• nur an Private verkäufliche Aktie restricted stock;
• im Einzeldepot verwahrte Aktien non-assented stocks;
• verwässerte Aktien watered stocks;
• nicht weitergegebene Aktie non-negotiated share;
• in Raten zahlbare Aktien instal(l)ment shares;
• zinssatzempfindliche Aktie interest-rate sensitive stock;
• zinstragende Aktien interest-bearing shares;
• zur Börsennotierung zugelassene Aktien shares quoted (stocks listed) on the stock exchange, listed stocks;
• an der Börse nicht zugelassene Aktien unallowed shares;
• zum Börsenhandel nicht zugelassene Aktien shares not admitted (stocks not listed) on the stock exchange, unquoted shares;
• zum Verrechnungsverkehr zugelassene Aktie clearinghouse stock;
• zugeteilte Aktien shares allotted;
• von den Gründern zurückgegebene Aktien donated stocks;
• zweitklassige Aktien second-line stocks;
• Aktien einer Abzahlungsfinanzierungsgesellschaft hire-purchase finance shares;
• Aktien auswärtiger Banken zum Anschaffungspreis shareholding (stockholding, US) interest in foreign banks at cost;
• Aktie ohne Besitzerschein inscribed stock;
• Aktien mit geringen Börsenumsätzen inactive stock;
• Aktie mit von anderen AG’s garantierter Dividende guaranteed share;
• Aktie mit normaler Dividendenabrechnung equity share;
• Aktie mit rückwirkender Dividendenberechtigung cumulative stock;
• verpachtete Aktie mit Dividendengarantie leased-line share;
• Aktie mit Dividendenschein share cum rights;
• Aktie mit Dividendenvorzugsberechtigung stock preferred as to dividends;
• Aktien im Eigenbesitz stocks held in treasury;
• Aktien einer Finanzierungsgesellschaft finance-house shares;
• Aktien von Goldbergwerken gold shares;
• Aktien eines nur aus Aktien bestehenden Investmentfonds common stock funds;
• Aktien einer Kapitalanlagegesellschaft banker’s (trustee) shares;
• Aktien von Lagerhausgesellschaften warehouse stocks (US);
• Aktie mit bevorzugter Liquidationsberechtigung stock preferred as to assets;
• Aktie mit [von anderen Gesellschaften] garantierter Mindestdividende guaranteed share;
• Aktie mit Nennwert par value share;
• Aktie ohne Nennwert unvalued share, no-par value (NPV) share, no-par value capital stock, unvalued stock;
• Aktien unter dem Nennwert shares at a discount;
• Aktien und Obligationen stocks and bonds;
• Aktien mit einem Pariwert von $ 50 half stocks (US);
• Aktie ohne Prämienrechte share ex rights;
• Aktien mit hoher Rendite shares that yield high interest;
• Aktien der Schwerindustrie heavy-industry shares;
• Aktie mit bevorzugtem Stimmrecht golden share;
• Aktien von Terraingesellschaften land shares;
• Aktien einer Treuhandgesellschaft trust-company stocks;
• Aktien mit beschränkter Verwendungsfähigkeit letter stocks;
• Aktien von Wohnungsbaugesellschaften housing stocks;
• Aktie abnehmen to take delivery of stock;
• Aktien von der Notierung absetzen to remove shares from the stock-exchange list;
• Aktien abstoßen to unload stocks;
• Aktie vor der öffentlichen Ausgabe anbieten to beat down the guns (US);
• Aktien zur Generalversammlung anmelden to deposit shares for the general meeting;
• Aktie niedrig ansetzen to set a low value on a stock;
• Aktien seines Auftraggebers aufkaufen to run stocks against one’s client;
• Aktien auflegen to announce shares;
• Aktien ausgeben to issue shares;
• Aktien zum Nennwert ausgeben to issue shares at par;
• Aktien unter dem Nennwert ausgeben to issue shares at a discount;
• Aktien über Pari ausgeben to issue shares at a premium;
• Aktien unter Pari ausgeben to issue shares at a discount;
• Aktien ausleihen to lend stocks;
• Nachfrage nach Aktien auslösen to seek stocks;
• Bezugsrecht auf junge Aktien ausüben to exercise the right to subscribe (acquire) new shares;
• Aktie zum Nennwert berechnen to raise the face value;
• Aktien besitzen to hold shares;
• Aktien beziehen to take up shares;
• junge Aktien beziehen to subscribe to (for) new shares, to exercise the right to subscribe for shares (new stock);
• Aktien unmittelbar bei der Gesellschaft beziehen to subscribe the memorandum;
• Aktien bei (an) der Börse einführen to have shares admitted (stocks listed) at (to) the stock exchange;
• alte Aktien in neue eintauschen to exchange old shares for new ones;
• Aktien voll einzahlen to pay up shares;
• Aktien einziehen to call in (pay off, Br.) shares;
• verloren gegangene Aktien für kraftlos erklären to cancel shares;
• sich auf eine Vielzahl von Aktien erstrecken to spread over a wide variety of shares;
• seine eigenen Aktien erwerben to buy its own shares;
• Aktien in ungewöhnlich geringen Mengen erwerben to buy shares in odd lots;
• Aktien in Depotverwaltung geben to place shares in safe custody;
• noch Aktien einzudecken (gefixt) haben to be short of stocks;
• 10.000 Pfund in Aktien angelegt haben to have L 10,000 in stocks;
• Aktien als Sicherheit haben (halten) to hold stocks as security;
• mit Aktien handeln to job shares;
• Aktien hereinnehmen to take in shares for a borrower, to borrow stock;
• Aktien als Deckung hinterlegen to lodge stocks as cover;
• Aktien kaduzieren to cancel shares;
• Aktien kaufen to buy in;
• Aktien auf den Namen der Bank überschreiben lassen to transfer shares into the bank’s name;
• Einzahlung auf Aktien leisten to make a payment on shares, to pay a call on stocks;
• Aktien zu einem zugesicherten Preis liefern to put stocks at a certain price;
• Aktien lombardieren to lend money on stock;
• Aktien als zusätzliche Sicherheit lombardieren to lodge stock as an additional security;
• Aktien manipulieren to manipulate stocks;
• Aktien mitnehmen to pick up shares;
• auf Aktien nachzahlen (nachschießen) to make additional payment on shares;
• Aktien in Prolongation nehmen to borrow (carry) stocks;
• Aktie in Zahlung nehmen to take delivery of stock;
• Aktien an der Börse notieren to quote shares (list stocks) on the stock exchange;
• Aktie beim Publikum platzieren to place shares with the public;
• mit Aktien eingedeckt sein to be long of stocks;
• in Aktien spekulieren to play the stock market, to stag the market;
• Aktie splitten to split shares;
• Aktien stückeln to subdivide shares;
• Aktie um 2 1/4 Punkte auf 178 in die Höhe treiben to build up a stock 2 1/4 points to 178;
• Aktien übertragen to assign shares;
• Aktien umschreiben to transfer shares;
• aus Aktien in hochverzinsliche Obligationen umsteigen to switch out of stocks into high-yielding bonds;
• alte Aktien in neue umtauschen to exchange old shares for new;
• Aktien umwandeln to [re]convert shares;
• Aktien unterbringen to place shares;
• Aktie unterteilen to split a share;
• Aktien veräußern to realize shares;
• Aktien seines Auftraggebers verkaufen to run stock against one’s client;
• eine Aktie dont 1% auf einen Monat verkaufen to give 1 per cent call on a share for a month;
• Aktien im Kundenauftrag verkaufen to sell shares on its customer’s advice;
• Aktien durch Fehlspekulationen verlieren to sink stock in speculation;
• Aktien vernachlässigen (Börse) to ignore shares;
• Aktie verwahren to hold shares in safe custody;
• Aktien als Kreditunterlage verwenden to apply shares as collateral security;
• Aktien vinkulieren to restrict shares;
• Aktien auf den Markt werfen to spin stocks, to offload shares;
• Aktien zeichnen to apply (make application) for shares, to subscribe to (for) (take up) shares, to take stock in;
• neue Aktien zeichnen to subscribe to (for) new shares;
• Aktien zur Börsennotierung zulassen to quote shares (list stocks) at the stock exchange;
• Aktien an die Gesellschaft zurückgeben to surrender shares;
• Aktien für eine Haussebewegung zurückhalten to hold stocks for a rise;
• Aktien zurückkaufen to redeem shares;
• Aktien zurückzahlen to pay off shares;
• Aktien zusammenlegen to amalgamate (consolidate) shares;
• Aktien zuteilen to allocate shares;
• Aktien nach erfolgter Zeichnung zuteilen to allot shares;
• Aktien voll zuteilen to allot shares to all applicants. -
11 hold
I [həuld] past tense, past participle held [held]1. verb1) to have in one's hand(s) or between one's hands:يَحْمِلُ في يدهHe held the mouse by its tail.
2) to have in a part, or between parts, of the body, or between parts of a tool etc:يُمْسِكُ بHold the stamp with tweezers.
3) to support or keep from moving, running away, falling etc:What holds that shelf up?
يَرْفَعُ، يُثَبِّتHold his arms so that he can't struggle.
4) to remain in position, fixed etc when under strain:I've tied the two pieces of string together, but I'm not sure the knot will hold
يَصْمُد، يبقى ثابِتاWill the anchor hold in a storm?
5) to keep (a person) in some place or in one's power:The police are holding a man for questioning in connection with the murder
يَقْبِض عَلىHe was held captive.
6) to (be able to) contain:يتَّسِعُ لِ، يَحْمِلThis drawer holds all my shirts.
7) to cause to take place:يَجْري، يَعْقِدُWe'll hold the meeting in the hall.
8) to keep (oneself), or to be, in a particular state or condition:يُبْقي، يَحْتَفِظُ بShe holds herself very erect.
يُشْغِلُHe held the position of company secretary for five years.
10) to think strongly; to believe; to consider or regard:يرى أن، يعتقِد، يَعْتَبِر، يحْتَرِمHe holds certain very odd beliefs.
11) to continue to be valid or apply:يَسْري مَفعوله، ينطبِقThese rules hold under all circumstances.
12) ( with to) to force (a person) to do something he has promised to do:يُلْزِم بI intend to hold him to his promises.
13) to defend:يُدافِعThey held the castle against the enemy.
14) not to be beaten by:يوقِف، يَصُدThe general realized that the soldiers could not hold the enemy for long.
15) to keep (a person's attention):يحافِظ على إنتباهIf you can't hold your pupils' attention, you can't be a good teacher.
16) to keep someone in a certain state:يُبْقيDon't hold us in suspense, what was the final decision?
17) to celebrate:يَجْري، يُقامThe festival is held on 24 June.
18) to be the owner of:يَمْلُك، يَحْتَفِظُ بHe holds shares in this company.
19) (of good weather) to continue:يَسْتَمِر، يَبْقىI hope the weather holds until after the school sports.
20) ( also hold the line) (of a person who is making a telephone call) to wait:يَنْتَظِرMr Brown is busy at the moment – will you hold or would you like him to call you back?
21) to continue to sing:يَسْتَمِر في الغِناءPlease hold that note for four whole beats.
22) to keep (something):يحْتَفِظ، يُبْقي علىThey'll hold your luggage at the station until you collect it.
23) (of the future) to be going to produce:يَجْلِب، يُعْطي، يَحْمِلُI wonder what the future holds for me?
2. noun1) the act of holding:He caught/got/laid/took hold of the rope and pulled
قَبْضَه، مَسْكَهKeep hold of that rope.
2) power; influence:قُوَّه، تَأثيرHe has a strange hold over that girl.
3) (in wrestling etc) a manner of holding one's opponent:مَسْكَة في المُصارَعَه II [həuld] nounThe wrestler invented a new hold.
(in ships) the place, below the deck, where cargo is stored.عَنْبَر أو مَخْزَن السَّفينَه -
12 freeze-out
Gen Mgtthe exclusion of minority shareholders in a company that has been taken over. A freeze-out provision may exist in a takeover agreement, which permits the acquiring organization to buy the noncontrolling shares held by small shareholders. A fair price is usually set, and the freeze-out may take place at a specified time, perhaps two to five years after the takeover. A freeze-out can still take place, even if provision for it is not made in a corporate charter, by applying pressure to minority shareholders to sell their shares to the acquiring company. -
13 conversion price
Finthe price per share at which the holder of convertible bonds, or debentures, or preferred stock, can convert them into ordinary shares.EXAMPLEDepending on specific terms, the conversion price may be set when the convertible asset is issued. If the conversion price is set, it will appear in the indenture, a legal agreement between the issuer of a convertible asset and the holder, that states specific terms. If the conversion price does not appear in the agreement, a conversion ratio is used to calculate the conversion price.A conversion ratio of 25:1, for example, means that 25 shares of stock can be obtained in exchange for each $1,000 convertible asset held. In turn, the conversion price can be determined simply by dividing $1,000 by 25:$1,000/25 = $40 per shareComparison of a stock’s conversion price to its prevailing market price can help decide the best course of action. If the stock of the company in question is trading at $52 per share, converting makes sense, because it increases the value of $1,000 convertible to $1,300 ($52 × 25 shares). But if the stock is trading at $32 per share, then conversion value is only $800 ($32 × 25) and it is clearly better to defer conversion. -
14 Dunlop, John Boyd
SUBJECT AREA: Land transport[br]b. 5 February 1840 Dreghorn, Ayrshire, Scotlandd. 23 October 1921 Ballsbridge, Dublin, Ireland[br]Scottish inventor and pioneer of the pneumatic tyre.[br]Reared in an agricultural community, Dunlop became a qualified veterinary surgeon and practised successfully in Edinburgh and then in Belfast when he moved there in 1867. In October 1887, Dunlop's 9-year-old son complained of the rough ride he experienced with his tricycle over the cobbled streets of Belfast. Dunlop devised and fitted rubber air tubes, held on to a wooden ring by tacking a linen covering which he fixed around the wheels of the tricycle. A marked improvement in riding quality was noted. After further development, a new tricycle was ordered, with the new airtube wheels. This was so successful that Dunlop applied for a patent on 23 July 1889, granted on 7 December. With tyres made in Edinburgh to his specification, bicycles were manufactured by Edlin \& Co. of Belfast and put on sale complete with pneumatic tyres. The successful performance of a racing bicycle thus equipped inspired an unsuccessful competitor, William Harvey de Cros, who had used a solid-tyred machine, to take an interest in Dunlop's invention. With Dunlop, he refloated a company in Dublin, the Pneumatic Tyre \& Booth's Cycle Agency. Dunlop made over his patents, for the tyre, valves, rims and fixing methods, to Du Cros and took shares in the company. Although he was involved in it for many years, it was Du Cros who steered the company through several struggles to success.The pneumatic tyre revolutionized cycling and made possible the success of the motor vehicle, although Dunlop did not profit greatly from his invention. After the sale of the company in 1896, to E.T.Hooley for $3 million, he took no further part in the development of the pneumatic tyre. The company went on to become the great Dunlop Rubber Company.[br]Further ReadingJ.McClintock, 1923, History of the Pneumatic Tyre, Belfast (written by Dunlop's daughter, who based the book on her father's reminiscences).LRD -
15 register of directors’ interests
(U.K.) Fina record that every registered company must maintain of the shares and other securities that have been issued by the company and are held by its directors. It has to be made available for inspection during the company’s Annual General Meeting.The ultimate business dictionary > register of directors’ interests
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16 Stephenson, Robert
[br]b. 16 October 1803 Willington Quay, Northumberland, Englandd. 12 October 1859 London, England[br]English engineer who built the locomotive Rocket and constructed many important early trunk railways.[br]Robert Stephenson's father was George Stephenson, who ensured that his son was educated to obtain the theoretical knowledge he lacked himself. In 1821 Robert Stephenson assisted his father in his survey of the Stockton \& Darlington Railway and in 1822 he assisted William James in the first survey of the Liverpool \& Manchester Railway. He then went to Edinburgh University for six months, and the following year Robert Stephenson \& Co. was named after him as Managing Partner when it was formed by himself, his father and others. The firm was to build stationary engines, locomotives and railway rolling stock; in its early years it also built paper-making machinery and did general engineering.In 1824, however, Robert Stephenson accepted, perhaps in reaction to an excess of parental control, an invitation by a group of London speculators called the Colombian Mining Association to lead an expedition to South America to use steam power to reopen gold and silver mines. He subsequently visited North America before returning to England in 1827 to rejoin his father as an equal and again take charge of Robert Stephenson \& Co. There he set about altering the design of steam locomotives to improve both their riding and their steam-generating capacity. Lancashire Witch, completed in July 1828, was the first locomotive mounted on steel springs and had twin furnace tubes through the boiler to produce a large heating surface. Later that year Robert Stephenson \& Co. supplied the Stockton \& Darlington Railway with a wagon, mounted for the first time on springs and with outside bearings. It was to be the prototype of the standard British railway wagon. Between April and September 1829 Robert Stephenson built, not without difficulty, a multi-tubular boiler, as suggested by Henry Booth to George Stephenson, and incorporated it into the locomotive Rocket which the three men entered in the Liverpool \& Manchester Railway's Rainhill Trials in October. Rocket, was outstandingly successful and demonstrated that the long-distance steam railway was practicable.Robert Stephenson continued to develop the locomotive. Northumbrian, built in 1830, had for the first time, a smokebox at the front of the boiler and also the firebox built integrally with the rear of the boiler. Then in Planet, built later the same year, he adopted a layout for the working parts used earlier by steam road-coach pioneer Goldsworthy Gurney, placing the cylinders, for the first time, in a nearly horizontal position beneath the smokebox, with the connecting rods driving a cranked axle. He had evolved the definitive form for the steam locomotive.Also in 1830, Robert Stephenson surveyed the London \& Birmingham Railway, which was authorized by Act of Parliament in 1833. Stephenson became Engineer for construction of the 112-mile (180 km) railway, probably at that date the greatest task ever undertaken in of civil engineering. In this he was greatly assisted by G.P.Bidder, who as a child prodigy had been known as "The Calculating Boy", and the two men were to be associated in many subsequent projects. On the London \& Birmingham Railway there were long and deep cuttings to be excavated and difficult tunnels to be bored, notoriously at Kilsby. The line was opened in 1838.In 1837 Stephenson provided facilities for W.F. Cooke to make an experimental electrictelegraph installation at London Euston. The directors of the London \& Birmingham Railway company, however, did not accept his recommendation that they should adopt the electric telegraph and it was left to I.K. Brunel to instigate the first permanent installation, alongside the Great Western Railway. After Cooke formed the Electric Telegraph Company, Stephenson became a shareholder and was Chairman during 1857–8.Earlier, in the 1830s, Robert Stephenson assisted his father in advising on railways in Belgium and came to be increasingly in demand as a consultant. In 1840, however, he was almost ruined financially as a result of the collapse of the Stanhope \& Tyne Rail Road; in return for acting as Engineer-in-Chief he had unwisely accepted shares, with unlimited liability, instead of a fee.During the late 1840s Stephenson's greatest achievements were the design and construction of four great bridges, as part of railways for which he was responsible. The High Level Bridge over the Tyne at Newcastle and the Royal Border Bridge over the Tweed at Berwick were the links needed to complete the East Coast Route from London to Scotland. For the Chester \& Holyhead Railway to cross the Menai Strait, a bridge with spans as long-as 460 ft (140 m) was needed: Stephenson designed them as wrought-iron tubes of rectangular cross-section, through which the trains would pass, and eventually joined the spans together into a tube 1,511 ft (460 m) long from shore to shore. Extensive testing was done beforehand by shipbuilder William Fairbairn to prove the method, and as a preliminary it was first used for a 400 ft (122 m) span bridge at Conway.In 1847 Robert Stephenson was elected MP for Whitby, a position he held until his death, and he was one of the exhibition commissioners for the Great Exhibition of 1851. In the early 1850s he was Engineer-in-Chief for the Norwegian Trunk Railway, the first railway in Norway, and he also built the Alexandria \& Cairo Railway, the first railway in Africa. This included two tubular bridges with the railway running on top of the tubes. The railway was extended to Suez in 1858 and for several years provided a link in the route from Britain to India, until superseded by the Suez Canal, which Stephenson had opposed in Parliament. The greatest of all his tubular bridges was the Victoria Bridge across the River St Lawrence at Montreal: after inspecting the site in 1852 he was appointed Engineer-in-Chief for the bridge, which was 1 1/2 miles (2 km) long and was designed in his London offices. Sadly he, like Brunel, died young from self-imposed overwork, before the bridge was completed in 1859.[br]Principal Honours and DistinctionsFRS 1849. President, Institution of Mechanical Engineers 1849. President, Institution of Civil Engineers 1856. Order of St Olaf (Norway). Order of Leopold (Belgium). Like his father, Robert Stephenson refused a knighthood.Further ReadingL.T.C.Rolt, 1960, George and Robert Stephenson, London: Longman (a good modern biography).J.C.Jeaffreson, 1864, The Life of Robert Stephenson, London: Longman (the standard nine-teenth-century biography).M.R.Bailey, 1979, "Robert Stephenson \& Co. 1823–1829", Transactions of the Newcomen Society 50 (provides details of the early products of that company).J.Kieve, 1973, The Electric Telegraph, Newton Abbot: David \& Charles.PJGR -
17 Wolseley, Frederick York
[br]b. 1837 Co. Dublin, Irelandd. 1899 England[br]Irish inventor who developed the first practical sheep shears and was also involved in the development of the car which bore his name.[br]The credit for the first design of sheep shears lies with James Higham, who patented the idea in 1868. However, its practical and commercial success lay in the work of a number of people, to each of whom Frederick Wolseley provides the connecting link.One of three brothers, he emigrated to Australia in 1854 and worked in New South Wales for five years. In 1867 he produced a working model of mechanical sheep shears, but it took a further five years before he actually produced a machine, whilst working as Manager of a sheep station in Victoria. In the intervening period it is possible that he visited America and Britain. On returning to Australia in 1872 he and Robert Savage produced another working model in a workshop in Melbourne. Four years later, by which time Wolseley had acquired the "Euroka" sheep station at Walgett, they tested the model and in 1877 acquired joint patent rights. The machine was not successful, and in 1884 another joint patent, this time with Robert Pickup, was taken out on a cog-gear universal joint. Development was to take several more years, during which a highly skilled blacksmith by the name of George Gray joined the team. It is likely that he was the first person to remove a fleece from a sheep mechanically. Finally, the last to be involved in the development of the shears was another Englishman, John Howard, who emigrated to Australia in 1883 with the intention of developing a shearing machine based on his knowledge of existing horse clippers. Wolseley purchased Howard's patent rights and gave him a job. The first public demonstration of the shears was held at the wool stores of Goldsborough \& Co. of Melbourne. Although the hand shearers were faster, when the three sheep that had been clipped by them were re-shorn using the mechanical machine, a further 2 lb (900 g) of wool was removed.Wolseley placed the first manufacturing order with A.P.Parks, who employed a young Englishman by the name of Herbert Austin. A number of improvements to the design were suggested by Austin, who acquired patents and assigned them to Wolseley in 1895 in return for shares in the company. Austin returned to England to run the Wolseley factory in Birmingham. He also built there the first car to carry the Wolseley name, and subsequently opened a car factory carrying his own name.Wolseley resigned as Managing Director of the company in 1894 and died five years later.[br]Further ReadingF.Wheelhouse, 1966, Digging Stock to Rotary Hoe: Men and Machines in Rural Australia (provides a detailed account of Wolseley's developments).APBiographical history of technology > Wolseley, Frederick York
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18 close corporation
1. Gen Mgta public corporation in which all of the voting stock is held by a few shareholders, for example, management or family members. Although it is a public company, shares would not normally be available for trading because of a lack of liquidity.2. (S. Africa) Fina business registered in terms of the Close Corporations Act of 1984, consisting of not more than 10 members who share its ownership and management.Abbr. CC -
19 closed corporation
1. Gen Mgta public corporation in which all of the voting stock is held by a few shareholders, for example, management or family members. Although it is a public company, shares would not normally be available for trading because of a lack of liquidity.2. (S. Africa) Fina business registered in terms of the Close Corporations Act of 1984, consisting of not more than 10 members who share its ownership and management.Abbr. CC -
20 minority interest
Finthe nominal value of shares held in a subsidiary undertaking by members other than the parent company or its nominees plus the appropriate portion of the accumulated reserves, including share premium account
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