ABSTRACT
The Olham “Limiteds” were a remarkable phenomena in many ways. In the manufacturing sector they were the first to take full advantage of the provisions of the limited liability acts. Their system of finance, with share capital and loan money, was unique in the industrial capital market, engendering much criticism as a fair weather means of finance. The degree of local participation in capital provision was generally reckoned to be very great, a feature partly attributable to the thrifty habits of the local people. The advent of the joint stock mills also produced a local stock exchange which specialized in cotton mill shares, its fortunes being closely linked to the rise and decline of the “Limiteds”. They deserve a corner to themselves.
