Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-01-04
communicated.
Corporations,

Corporations. r..
lhere has been no bill before the Legisla-
ture that so directly affects the interest of
every citizenlof Nevada as that requiring all
incorporated companies to remove their
offices to this State, instead Of having their
headquarters in San Francisco. In previous
years. when the same bill was befo,o tho
Legislature, l took opposite grounds from
what now do, and for the reasons that we
were new and undeveloped Territory.
Capital opposed the measure then, and, as
we wanted capital, felt as though by indul9.
ing it, general benefit would accrue ; and
beside being Territory, it was questionable
whether it would hold il enacted. We have
tried it, allowing "capital " and mining COM
panies to do as they pleased, and what has
been the result! An utter breaking down of
all mining interests, through a reckless, in
competent system Of management, that has
been inaugurated in consequence Of directors
being away from the scene of labors.
The attractive feature OF capital is profit,
and we all know, here, the difference between
foreign Incorporation mining, and home
mining, where the Trustees are on the ground
and instruct and act BY the facts before their
eyes, and instructions from where its too
often guess work. The one is economy and
proft-the other is extravaganza, waste, and
too often ruin. As before remarked, profit
is what capital seeks. Let us make good
laws that protect stockholders; for instance,
compelling the Secretary to make out and
forward to every stakeholder, every 80 or go
days, full exhibit, sworn to, Of the COM
pany's affairs, and there will be a more gen.
eral rush Of capital into mining operations.
The trouble now is, there is no confidence
felt by stockholders. Trustees have played
with all stocks, whether good or bad, like
wind with feather, and perfectly independ-
ent of real merits and this for the simple
reason that they were not mining but specul1-
ting. They neither lin too many instances)
care for the stockholders, the mine, or
whether the interest Of Nevada was affected
or not. When companies are abou. paying
dividend, down goes the stock, and rice
versa all by some hocus pocus Of set Of
stock gamblers. The last dodge now is to
make the Board of Brokers OF San Fran
cisco the Mining Bureau OF the Pacific
We have had enough Of this humbug min
ing; and for one, ! want to see the bill pass,
bringing them all within our boundaries. II
capital does not want to come, we can de.
velop the country with what we have. We
may go slower, but we will go great deal
surer, and much more to the interest Of the
State of Nevada and every citizen of it. II
we want to make the State mining camp,
and San Francisco and New York the place
of deposit of our wealth, after we have ex-
tracted 1t, then keep on as we have DONE
II We want to build up our State and cities
and be prosperous and stable, we want all
mining associations, home associations, and
not foreign. Companies then have COM
mon interest with us in our general pros
perity. This matter Of counting capital is
great deal like imaginative wealth. Show
that money will be made by investment, and
investment soon follows. 1t is not SO much
the laws. The very law now proposed to be
enacted, and which is opposed by San Fran
cisco, is just.wh California exacts for her.
self, aud why we should not, is query to me.
That the law would increase our taxable pro-
perty there is no question. And in this con-
nection would also ask, why should we not
exact deposit Of Insurance Companies
California deems it to her interest to demand
it, but when If comes to Nevada requiring it
for hers, then the system is all wrong. Let
US start out on our own bottom and individu-
atty, with California as one State, and Ne
vada as another, and not Nevada as an ap-
pendage Of California merely. CosTos.