Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1891-09-19
AssEssABLE AND NoN.AssEssA-
BILE STOCK.

Inc CalL Lhhc DtoSh AAN''e
Journal, from time to time, has re-
ferred to the subject of assessabie
and worcestershire stock. Person
aiiy we favor tine frst-namec sys-
tenn, unless it should transpire that
the property of the company paid
from the grass-roots, in which event
IL would not be necessary to levy
an assessment even if the stock was
assessabie. But, on the other hand,
if the stock was worcestershire and
the company failed to find ore and
the treasury fund was exhausted,
what then? One of two things must
happen; the stockholders must put
up. some of them, and carry the
enterprise through, or else work Will
come to a stind-still and finally the
stockholders will become Disguised,
put away their certificates and for
get all about the great piles of
money they were going to make,
and claim that mining is a fraud,
delusion and a snare. And yet. 1t
is quite likely that the company
would be paying dividends to-day if
enough money could have been
raised wherewith to have pushed
development work for short time.
As it is, the stakeholder lost lis
money, he lost confidence in mining
and in his fellow men, merely be-
cause the laws Of his company were
such that he was not called upon to
help develop his own property.
Some might say that with asses
sable stock the stakeholder outside
of "the ring" ran the chance of be-
ing frozen out by those in it. There
is some truth in this saying, but
there is a remedy that any stock
holder can apply, and he should
put on the breakes and pull the
officers of the corporation into court
if he has reason to believe that they
are not working in the interests Of
the company, as they are under
oath and bond to do.
We have an instance of this kind
in view now: An assessment OF a
dollar share has been levied where
it would not require one Of mor'
than ave cants TO carry on the pro
posed work and demonstrate tn
productive qualities of the mine
It's stock has been advertised a
delinquent; yet, from all appear
ances this assessment will not b
paid, neither will the shareholde
lose his stock, for the simple reason
that the assessment is oa.rageou
and not for the best interests of tn
company, and therefore the aid {
the law will most likely be invoked
But this is an isolated case, an
we give it as a sample of wha
might be done with assessable stock
but we also give the remedy.
With worcestershire stock ther
is no remedy. There is no law tha
makes it imperative for the shar'
holder TO do his share towards d,
veloping the property. Some of tn
company may be willing and am
ious to do their part, but they o.
frustrated by those who are alwa!
Sinking and who would benefit {
the expense OF others, if they coul
The stockholders become scattere
no unanimity of action can be 5
cured; and, after the first none
secured by the sale oil a certal
amount of treasury stock, is gon
and the mine is not then a shippe
1t goes TO the four-winds, the jig
up. and the stock is not worth Il
paper 1t is written upon.
worcestershire stock may do
gull eastern suckers with, but mi
ing men in the west do not want
monkey with such business. Tn,
want to go 10 work and keep I
working until they are satisfied
producing qualities of the propert
As we said before, the non-asses
able stock is that most largely us
lv sharpers in catching caste
suckers. II is great bait, and o
that is quickly taken by gullat
people who want something
nothing, a mine for dollar; and
general thing the man who
placing worcestershire stock
over the the country may be siz
up as shark, no matter how &,
tlemanly his appearance, or h,