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TeachMeFinance.com - explain Ring historic definition...
Ring -- The term ring applies to a group of capitalists (or
speculators) who are joined together in a transaction or deal ;
specifically, it applies to a combination of persons as distinguished
from a combination of concerns or interests.
For instance, ring applies to a clique or coterie of persons
who are striving, by previous arrangement among themselves,
for the same end, but each for his own account, as a ring in a
stock, the persons in which are endeavoring to advance the
stock by buying simultaneously or to depress it by selling
simultaneously, but each for himself. When they act collectively
for their united risk and benefit the term pool applies;
see Pool.
The term ring is sometimes applied to a combination of
separate concerns or interests by an understanding or by a
compact (as a pool), but not by an actual consolidation. In
such a case the term combination or combine should be. employed.
To an actual consolidation, when the purpose is to
control a particular industry or business the term trust properly
applies.
Combine is a newer term than either ring or trust and has
been rather loosely used.
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