Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1863-10-23
The Law Concerning Sales for As.

assessments were delinquent, which pro-
vides that notice of both the levying Of
the, assessment and the notice of the sale
shan be published I" in some newspaper
published at the place designated as the
principal place Of business of the cor
poration, or nnone is published there, in
some newspaper nearest to such place IN
tie Territory" In referring to this mat
ter, we were not entirely disinterested,
being, of course, naturally DESTROYS Of
obtaining for our newly started enterprise
all the business to which we have a legal
claim, as well as that with which we
might be voluntarily favored by our fell
low-citizens. We did not, however, in
the attempt to secure this advantage to
ourselves, have recourse to any subterfuge
or misrepresentation. We quoted the law
cerbdtin, ct Rteratim from the official copy
of the statutes. The Unions short article
in this mornings issue referring to the
subject, is likely to mislead the Secreta-
ries of those mining companies whoss
place of business is elsewhere than at Viz
ginia, or is nearer to some newspaper pub
Gshed elsewhere. In order that justice
may be done, and to give the Union the
full benefit of its own article among the
readers of the News, we copy it entire:
ASSESSMENT SALEs.-The last Legis-
lature provided that notice of sales for
assessments in mining companies must be
advertised in some newspaper published IN
the county where the mine is located; or,
if no newspaper be published in that
county, then in some paper published IN
the nearest county thereto. We make this
statement for the benefit of many of our
readers, who may be under the impression
that the law requires the advertisement to
be given to some paper published in the
same mining district with the mining
ground to be sold. The law reads county,
and not district, which may be found on
page y of the statutes of 1852"
Now, the foregoing is calculated to
mislead, and we are compelled, both in
Justice to ourselves and the people to cor
rect the misstatement and the miSappre-
hension to which it leads. The law to
which the Union refers on "page y Of
the Statutes of 1862" has no more to do
with the advertising of assessments or
sales of delinquent stock than it has with
the punishment of rape, murder or arson.
The very title of the law to which the
Union refers, but does not take the trouble
to quote, speaks for itself. 1t is entitled :
IAN Act empowering Corporations and
Associations to sue individuals" Now
we are not talking about sueing indi-
viduals nor do mining companies "sue
individuals" as general thing for delin-
quent assessments. They advertise notice
of the levying oSthe assessment, and after
due notice, given as required by law, they
proceed to sell any stock upon which the
same remains unpaid. That is what we
are talking about, and the law governing
such notices and such sales is of later
date than the one referred to above, is on
pages l62 to 16S, inclusive of the Laws
of the second session of the Legislature of
this Territory. Section 10, of that law,
and that IS tie only law in existence upon
the subject, reads as follows:
SEC. 10. The Trustees shall have power
to demand and call In from the stock
holders the sums by them subscribed, at
such times and in such manner, pay
ments, or instalments, as they may deem
proper, notice of each assessment shall be
given to the stockholders personally, or
shall be published once week in some
newspaper published at the place designa-
ted as the principal place of business OF
the corporation, or, if none Is published
there, in some newspaper nearest to such
place in the Territory. Il, after such notice
has been given, any stockholders shall
make default in the payment of the as
sessment upon the shares held by him, so
many of such shares may be sold as will
be necessary for the payment of the asses
ment on all the shares held by him, her
or them. The sale of said shares shall be
made as prescribed in the bylaws of the
company, but shall in all cases be made
at the office Of the company; provided,
that no sale shah be made except at pub
lie auction. to the highest bidder, after
notice Of thirty days, published as above
directed in this section, and that at such
sale the person who viii agree to pay the
assessment so due, together with the ex-
penses Of advertising, and the other ex-
penses of sale, for the smallest number of
shares, or fraction Of share, as the case
may be, shall be deemed the highest bid
der.
We publish it in fun, that all whom it
may in any wise concern may read for
themselves. 1t Is plain enough in all
conscience; a man need not be lawyer
to understand it.
1t will be seen by the reading Of the
law, that it is imperative as to how
and where the notices of both the assess
ment and sale shall be published; It is
mandatory and not merely directory, and
viii be strictly construed by the Courts.
Any sale of stock for assessments made
otherwise than in strict conformity with
this law, is as utterly void as if no notice