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Watered stock : ウィキペディア英語版 | Watered stock Watered stock is an asset with an artificially-inflated value.〔McCormack, Alfred. 1931. "Review of Stock Watering: The Judicial Valuation of Property for Stock-Issue Purposes". ''The Yale Law Journal''. 40, no. 8: 1344-1345. 〕 The term is most commonly used to refer to a form of securities fraud common under older corporate laws that placed a heavy emphasis upon the par value of stock.〔Dodd, David L. ''Stock Watering: The Judicial Valuation of Property for Stock-Issue Purposes''. New York: Columbia University Press, 1930.〕 == Origin of term == "Stock watering" was originally a method used to increase the weight of livestock before sale. It entailed tricking cattle to bloat itself with water before it was weighed during a sale transaction. Its introduction to the New York financial district is popularly credited to Daniel Drew, a cattle driver turned financier.〔White, Bouck. ''The Book of Daniel Drew: A Glimpse of the Fisk-Gould-Tweed Regime from the Inside''. Burlington, VT: Fraser Publications, 1996.〕
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