Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1875-09-04
SAN KRANCIsCO, AND NEVADA
STOCKS,

sAM KRANCIsCO, AND NEVADA
STOCKS.
Tho Reno Democrat has . lengthy
and forcible article in favor Of trans
ferring oil business in stocks from San
francisco to Virginia City. We quote:
at i time we commenced taking our
own snu1, and that the outside should
do the sneexing. 1t is high time that
all stock operations, all stock sales by
boards, and al Stock Boards, dealing
in Nevada's capital, should be carried
on and manipulated within the State.
Thousands Of dollars, nay almost mill
lions, ore annually expended to KEEP
up secretaries and directors and presi-
dents Of mining companies. Thou
sands are expended for costly offices;
thousands are expended for clerical
lsbors; thousands are expended for
printing, and al done and expended
in California. In fact, Il may b said
that the whole disbursements Of . great,
= gigantic system of trade and specu-
lation 10 unnecessarily transferred to
and made tributary to . foreign State.
BY every consideration Of political
and physical economy, the State which
furnishes the entire busis Of trade and
industry should also have . claim to
it, greatest benefits. We claim and
assert a. . matter Of right that each
and every mining company doing the
business Of and working the mines in
Storsy county, Nevada, should be conf
PEELED to have aud maintain in that
county their principal Office, and their
only ofics for sales, reception Of dues,
Or disbursement of dividends. Why
shall not C street take the place OF
Montgomery G street is literally
paved with silver; its sidewalks would
pay for milling; yet shouldthose pave
msnts be passed through the stamps
Of the Consolidated Virginia mill the
City Fathers would have to receive
their dividends from the Office on
Montgomery street. The telegraph
announces that the Stock Board will
not assemble for some time. Wetrust
II may DO forever, unless it assemblies
in Virginia City, owe the shafts. the
tunnels and tho wealth on which it
lseds and maintains Its existence. BY
the incorporation Of all these many
companies in California, and the issu-
ance Of stock dated, signed and re-
cordsd on Montgomery street, our
State u cheated out Of millions Of tax
able property. Let the worn state
msnt Of mining superintendents and
mining secretaries answer for the above
assertion. Now is the time for . great
and practical change. Let the popular
voice speak, and let the way be paved
for . system Of stock operations
which shall be Of benefit
to Nevada and all its people,"
We would like very much to SEQ the
suggestion Of our contemporary car
ried out, but We greatly fear such q
scheme is mot at all practicable. As late
- 1854 efforts were made to main.
tain stock boards both In Virginia and
Gold Hill, but neither proved . sue
CESS. The scarcity Of capital and the
consequent limited demand for al de-
scriptions Of stocks seemed 10 be the
greatest obstacle to the success Of these
undertakings. The proposition re-
duces itself down to about this state OF
fhsts: California buys largely Of our
s1ocka, and In order to facilitate trans
aotlons W must seek the market. Tho
people accross the mountains are lib
sral buyers whom the opportunities are
favorable. but not ono in . thousand
would 90 70 far out Of the way as to
send orders TO Virginia City. While
Nevada has stocks TO soil she u pretty
apt to look for . market whore the de-
mand Il the greatest. The proposition
TO require all corporations based on
Nevada property to have their head
quarters in this State, has been, moot.
I'd ct several sessions Of the Legisla.
ture, but . full and fair examination o.
the question has invariably resulted In
hvor Of leaving the whole matter Jus,
where II H.. II would certainly be I
big stroke for Nevada II she could geI
all Of the capital employed in stock
t~ransactions transferred to Virgins
City, but Il strikes us quite forcibly
that % desirable IN end can never b,
achieved. 3
TEE BANK.-A. J. Ralston, manage
Of the Virginia City Agency OF tn,
Bank Of California, b now In San Fran
siscc. On the lst instant he sent th,
following dlspatch 10 J. r. Martin
cashier, 1t Virginia:
Lam pos lively assured that every
dollar OF indebtedness will be paid anC
business continued, and ifthere Is some
delay parties must be as patient n
possible. A.. J. RALsToN.