Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1874-02-12
IMPORTANT 70 MINING Mn.

We notice that a couple OF bills have
been Introduced into the California
LEGISLATURE which are OF importance to
mining men in this Siate-mO>t of eur
companies being incorporated under
the laws of California. They are thus
summarized by IL of our western en-
chanse>:i
one is entitled AN Act for the better
protection of stockholders i'll incorpor-
ated cumpauieS." Section | provides
that any person holding Sl.ooo worth
OF stock i'll a mining company incor-
poratti under the laws OF California.
may apply 10 the Trustees for an order
admitting him 10 examine the conn
panv's property. Section =. Any
Board refusing / give such permit
shall be deemed subject To contempt
and I've liable to 500 fine. and every
refusal shall be Il separate cau>e of ac-
ton. Section :. y demand oil the
President of Il company. hN ten days
notice i'll writing. shall be deemed Il
demand on the Trustees; and Il refusal
shall lie subject 70 the same penalties
as in section =. Section /. In east the
sNtl III iIttCilNNtIit VI ItA~'h ~ -
refuses or neolect> to admit Il bearer OF
such order 10 The c2mpany's property.
he shall be guilty OF contempt and hc
subject - Il fire OF 500. every refusal
being Il separate cause of action. Sec
+ ton :. Justices Courts shall have
jurisdiction under this Act. Sections Il
and : state that all .ActS and paris OF
Acts. &c. are hereby repealed. and
| flat ~, \- ,l,Il -al-n ,-f,..- nv, II,
passage.
The other proposed law is entitled.
:. An .Act i'll relation % The sale OF stock
III mining corporations. AMI other
matters connected thereaith. sNnop-
SIS of which is as follows: Section |.
No sale hV a broker or 4. her person of
any share in any mining company
shall hereafter be made valid unless
the same be for cash and on actual de-
livery OF the same. Section >. II i
made unlawful for amy broker OF other
person To make any bogus or sham
sale or purchase OF stock in any min
in- company. Section ; makes il un-
lawful for any broker or other rel-
>on to purchase OF sell any stock i'll
a mining company. or to make amy
contract for such purchase or sale al
any place other than the ordinary
place where either the buyer or seller.
or the partners of either of them. shall
occupy a. Il place OF business. Section
t. All contracts made in violation of
the provisions of The Act shall he void.
Section >. \ violation OF the proVi>-
ions of the Act shall he a mi>lemcan-
or. and be punishable by Il fine ol
from $1,000 to SlG.UO0 and impri>on-
mcnt. or both. Section Il. ANY mining
expert who shall makca false or fraud
ulent report OF the condition of q
mine, and any person who shall salt
Il claim or assist in the am for hc
stock market. and any who shall
sell or cause TO be sold any stock in a
mining company. knowing the same
to be worthless, shall he guilty OF d
felony. Section I. Any person who
shall furnish evidence or Information
that shall lead to the conviction ofanv
ter~onS guilty of any viola ion OF tic
provisions OF this -\ct. shall. on con-
viction of the same, have onc-ialt Ui
the tine imposed. Section :. and las,
says that the Act shall take effect on
lis passage.