The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-01-03

Ae9D00A0l.D STOCK.
The mining communitiss q thia
Territory win not probably troab'a
u coming Legislature to any gFeal
extent for local Of chs lesislatioa.
Ore thing they viii demand b tn
raasags of law SUBSTANTIALLY the
the same - has stimulated develop
msnt and protected investors in Cali
fornia and Nevada for years past. II
h impossible to frame . law under
which unscrupulous speculators can
not take advantage ofminority stock
holden, hut the assesssble stock plan
seems to Offer the best protection 10
investon and to give the greatest
promise to stimulating mining enter
prise. There are several methods
that have been tried for opening and
testing . mine that has not yet be-
come productive. The plan that has
been tried and sigually failed In
this mining district h the treasury
stock plan. Regular stockholders
nut their stock On the market with
the treasury stock, and tall gcer to
starvation prices together, realizing
nothing for the Development II the
property. Another plan Is to mise
money Ly mortgage to p't on
machinery aud to create . fund for
development. The natural snd
legitimate outcome b foreclosure
when the mortgage natures, shut
ting out the small stockholdess, no
matter how valuable the mine upon
which the stock Is pretlk'ated. and
allowing thu big Dish to buy In the
property ut mortgage sale. Another
plan is to run . mine On credit. This
u the Won't Of al. Men doing bu A.
ness In . mining community are
Interested most Of oil that there shalt
be stability. Lars TO stockholders or
laborers inevitably brings lun to
them. Under the assessment plan
there can te NO loss 10 laborers
or small stockholders. II they lose
faith in the mine they have, hut to
sell the stock they own to some one
who 10 more creslulous. There would
be = fund constantly coming In from,
assessments to prosecute the work Of
development. until no one has any
further faith In the mine, and the
sales Of delinquent stock find no buy.
era. There are many promising
properties In this vicinity that would
nnd funds for their development II
men Of moderate means were per.
mitted to carry stock Oh them and
put up . margin on their stock
monthly. As 1t is now, the owner Of
. promising property can do nothing
but wait until some purchaser comes
along ana offers linn q 4 " thousand
dollars for 1t. 1t would he vastly
better for every business interest Of
this place to have such property
worked, even if the business men
themselves had to lay two and three
per cent. assessments on the same
Business men must ap-
preciate. no matter how great the
mineral resources Of this locality, |
that II every wheel were IL stop to-
lay, and every shaft Ike allowed to |
III with water, there. would not Long |!
be necessity f0s u single b,,sInes. |
nous. in Butte. II il to aid in keep
ing the prosperity "f our young city !
It the point justified by her re-
sources, through legitimate aud in
elltg~nt means Put in practice aud
ound wholesome l.y other mining
that the mining and
interests Of this community
lemand an amended corporation law,
% that mining stocks can liz assessed
or opening aud developing the MIN
rial RESOURCES Of this territory with
ut danger Of the money put into
uch enterprises icing wrecked Ly
Inscriptions adventures or needy
peculatOry. Instead Of legislation
Or slIarlers We need legislation for
he energetic poor Of the country
vho may have opportunity. ~ they
|id In the early days In Nevada, Of
akinY stock In untlevelopet mines
llsl paying their assessments from
he profits Of their daily lalOr. and
'sconltng. rs many Of them have, the
Wealthy men III the nation.