Company Strip-tease
SIR,—It is strange to find your city commentator approving the abolition of exempt private com- pany status. He acknowledges that the equity share is the kingpin of the capital market and yet his comment on the loss of exempt status is `so far so good.'
I am all in favour of shareholders receiving more information than they do now, but why should this also be made available to outsiders, except for quoted companies? After all, there are about 16,000 companies quoted on all the stock exchanges in this country and there are over 300,000 non- quoted companies in which the public as such does not have an interest. Would Mr. Davenport care to forecast what he considers would be the effect on the economy of the country, if most of these were driven back into partnerships? What happens to initiative and new ideas? How do we build up and develop new enterprises in the same way that, for example, the motor-car industry was developed thirty and forty years ago?
JACK ROSS
Previous page
