Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1872-03-22
1mpoRrANr M1N1Na LAW.

i IQ6 SI!lIOrILI ScilatO h1s PaosSN'
without amendment. the Assembly
bill amending the mining corporation
Act. The bill authorizes a majority
Of the stockholders in a mine to call a
meeting at any time, on application to
a County Judge for permission, and at
such meeting the officers, all, or any
of them, may be removed by vote Of
two.thirds Of tho stock. This bill Is
designed to protect the owners of min
Ing stock by authorizing them to hold
trustees and other officers to q more
strict accountability than heretofore,
and also to break up dishonest ring
management in such interpretations.
| The bill was introduced into the AS
sembly by Mr.. Wilcox, on the 9th OF
january, and, after passing, was sent
to the Senate on the 9th Of February,
where it was referred to the Commit
tee on Corporations. 1t was brought
finally before the Senate on Tuesday
last, and passed as it came from tho
| House, without amendment, by the
strong vote of &c to II. 1t now only
awaits the signature Of the Governor
to become u law. By the provisions of
the bill, rs we understand It, the
stockholders are given the right to
change the entire managing control Of
a mine in fifteen days, upon the two
third vote of the number of shares,
thus compelling the control to be kept
in the hands Of bona fids holders Of the
stock. The bill is as follows:
An Act supplementary to an Act enti-
tied an Act Concerning Corpora
tions. passed twenty-second April,
eighteen hundred and fifty.
The People of the State Of California
in Senate and Assembly, do enact rs
follows:
Section l. On petition, a majority
Of the shareholders Of any corporation
formed for the purpose Of mining, to
the County Judge Of the county where
said corporation has its principal place
of business. verified By the signers, to
the effect that they are severally the
holders OF the books Of the Company
OF the number Of shares set opposite
their signatures to the foregoing petl-
ton. the County Judge shall issue his
notice to the shareholders of said COM
pany, that n meeting Of the %sharehOld-
ers shall be held, stating the time, not
less than five nor more than ten days
after the first publication ofsaid notice,
and the place OF meeting within said
county, and the object to be to take In
to consideration tue removal Of the
officers Of said company, which notice,
signed by the said County Judge, shall
be published daily in II or more
daily newspapers published In said
county, for at least five days before
the time of the meeting.
Sec. =. At the time and place ap-
pointed by said notice, those claiming
to be shareholders shall assemble, and
shall proceed to organize BY the ap-
| pointment OF 4 Chairman and Secrota-
ry, and t~hereupon those claiming to be
shareholders shall present proof there
| of, and only those showing q right to
| vote shall take part In the further pro-
ceedings. If 1t appears that at the
time appointed, or within II hour
thereafter, shareholders Of less than
one-half the shares are present, no fur
Their proceedings shall be had, but the
meeting shall DO ips0 tacto dissolved ;
| but If the holders of more than u
half of the shares are present, they
| shall proceed to vote, the Secretary
| calling the roll. and the members vo-
| ting yes or no, as the case may be.
| The Secretary shall enter the same
| upon his list, and when he has added
| up the list and stated the result, he
| shall sign the same and hand 1t to the
| Chairman, who shall also sign the
| same aud declare the result.
Sec. 3. II the result of the vote Is
| that the holders of ~two-thirds Of all the
shares Of the Company are in favor Of
/ the removal of one or more Of the OIL.
GERS Of the Company, the meeting shall
then proceed to ballot for officers to
supply the vacancies thus created.
relierS shall be appointed By the Chair
man. who shall collect the ballots and
deliver them to the Secretary, who
| shall count the same In open session,
and having stated the result Of the
count in writing, shall sign the same
and hand it to the Chairman, who shall
announce the result to the meeting.
Sec. 4. A report of the proceedings
| Of the meeting shall be made In writ
ing, signed by the Chairman and Sec
| rotary and verified by them. and de-
| livered to the County Judge, who shall
| %thereupon issue to each person chosen
a certificate Of his election, and the
| petition aud report, endorsed with the
date and fact of the issuance Of such
certificate, shall be delivered to the
| County Clerk to be by him filed in his
Office. and thereafter the persons thus
elected officers shall hold office until
| the next regular annual meeting, I'M
less removed under the provisions
thereof.
Sec. ). One-third Of the shareholders
can at any time demand a statement
Of the affairs OF the Company, and
compel the Trustees to make an ex-
hibit thereof.
Sec. 6. For all service In these pre-
ceedings the County Clerk shall re-
ceive ten dollars on the Issuance Of
the notice, and ten dollars on the issu-
ance of the certificate.
Sec. I. All acts or parts Of Acts con-
flic:ing with this Act, are hereby re-