Posts by Saintbertholdt

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

"It may have been possible to obscure the status of the original shareholders with the promise of "look no more financially interested shareholding" but still leaving the original shareholders to make profits?"

Seems unlikely, the 1945 charter amendment states: "The corporation has no capital stock."

But have a gander at it, perhaps there is more to it than I can see. The devil may be in the details :)

http://www.a2z.org/wtarchive/docs/1945_Charter_of_the_Watch_Tower_Bible_and_Tract_Society.pdf

I'll will say this to our collective dismay: People like law professor James Penton has also studied the document, and he made no bones about it.

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

"Did the WTS just kick the women to the curb and confiscate the stock value?"

If the majority of shareholders of a corporation vote to dissolve their shares at zero cost and decide to give their voting rights over to a new scheme, the minority still has to abide.

This is what seemingly happened in 1945 with an overwhelming majority vote (Over 200 000+)

So it seems as if the bulk of the shareholders (men and women) were happy to give these shares back to the WTBTS directors to do with how they saw fit. Which the directors then duly did by hand picking the voting shareholders :)

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

He wanted to inherit Rutherford's kingdom. It would appear politic or to use JW terminology,"theocratic" for him to abolish the monetary shares in the society in 1945 but would it not be in his financial and power interests to honour the original investments?

I would agree. The directors could hand pick the nominees (voters) henceforth. Which meant that they would rubber stamp whatever the WT directors wanted. That is the norm to this very day. Being nominated is perceived as a privilege and so these voters are basically yes men to whatever the directors propose.

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

I should like to ask: does anyone have any idea of what happened to the stock value of the WTBTS before the cut off date in the forties and does it still continue among the inheritors of the original stock holders...or was it realised at that time and henceforth abolished?

No, a financial gain was not realized for the voting members because the 1945 Charter was adopted almost unanimously by the 200 000+ shareholders.

The Board of Directors then could select the 300 - 500 shareholders according to the amended charter with the stipulations: "...No member shall sell, transfer or assign his vote... be conveyed by will or other instrument upon a member's death."

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

"And...what about the five women who had been named as the inheritors of Russell's stock?"

According to the 1945 charter amendment, only men are to be nominated as shareholders.

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

From the 1945 charter amendment which was adopted in September 1944:

"Such nominee [voting member] shall be elected... by the Board of Directors... No member shall sell, transfer or assign his vote... be conveyed by will or other instrument upon a member's death."

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

Please reveal sources.

From: A Great Battle in the Ecclesiastical heavens

"For each contribution of $10.00 the contributor is entitled to one voting share. While there are nearly two hundred thousand shares, and it would be an easy matter to elect some other man as president, there never has been cast a vote against Pastor Russell."

I should like to ask: does anyone have any idea of what happened to the stock value of the WTBTS before the cut off date in the forties and does it still continue amongst the inheritors of the original stock holders ...or was it realised at that time and henceforth abolished? This does require an answer.

From: A Great Battle in the Ecclesiastical heavens

"This is a non-stock corporation; it pays no dividends, no salaries, and no one has ever, as its books clearly show, reaped any financial benefit therefrom. It is supported entirely by voluntary contributions made by those who are interested in the promulgation of Bible Truths. Its work is exclusively religious."

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

Hi Half Banana,

"I knew of the "shareholding" voters but wasn't aware of their financial stake in the business success of the Watchtower org."

I'm not aware of their financial stake either. You might be referring to someone else's post.

I agree with Orphancrow in that I'm not aware that the voting shares have any monetary value today.

It used to have back in Russell's day, but that was just a buy-in value to be able to vote. Post Rutherford it was done away with.

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

When the 1942(5?) charter was instituted, the monetary value was eliminated from the voting shares.

dropoffyourkeylee is correct: "The current structure dates back to about 1944 if memory serves."

59

Cooperate Members of the Watchtower Society

by James Jack in

a older sister in miami florida has told me that the special pioneer couple who got their walking papers last week said they are also voting members of the watchtower society.

also his stock share is valued at $800,000!.

i did some research and spoke to some longtime witnesses and found out that there are 500 voting members of the society and they are also called shareholders.. has anyone ever of someone selling his share?.

Saintbertholdt

And who are the mysterious board of directors?

Don Adams is president of the WTBTS of Pennsylvania and has to be re-elected every three years.

President: Don A. Adams
Vice Presidents: Robert W. Wallen, William F. Malenfant
Secretary/Treasurer: Richard E. Abrahamson
Directors: Danny L. Bland, Philip D. Wilcox, John N. Wischuk

Some of them also serve on the committees:

http://www.jw.org/en/publications/magazines/w20151015/helpers-governing-body-committees/