Arizona weekly journal-miner., 1902-04-30
MINING STOCK EXCHANGE.
Benefits to Be Derived From Such an Institution, Both to the commun- ity Generally and to the Vari-
 ous Mining CompanIes.
(Communicated.)

NSOlLuuHlCdbCuJ
 At last Prescott is to have a real bona fide mining stock exchange, where regular reports of the condi- ton of companies and of the proper ties have to be made and the acme of protection against over issue is af- forded by the requirement that all stocks be registered with some repu- table trust company.
 Only recently a discovery was made of a company's funds being at the mercy of the treasurer of the company It was found by promi- nent exchange that some treasurers were in the habit of depositing the funds to their individual accounts instead of to the credit of the con- panies to which they rightfully be- longed. It was claimed that the financial embarrassment of the indi- vidual would result in unnecessary harm to the company and its share holders, and consequently rule was adopted whereby all funds of the companies, the stocks of which were traded in on that exchange, must be deposited to the credit of the com pany and not to the personal credit of an individual.
 In this proposed organization are representative men of all kinds of business, who will necessarily continue with the organization now that they intend to organize, have the ex- perience of such other exchanges as they care to investigate to guide them and enoble these men to organ ize founded on broad minded busi- ness principles. The strength and importance of any stock exchange lies principally in the amount of pro tection it affords the small stockhold- CTS. It will be necessary to amend the rules governing the exchange from time to time until none but the most legitimate can have their shares traded in on the floor of this e1- change, wildcatism being absolutely eliminated. Then, too, arrangements should be made whereby daily quo- tations and a weekly letter reviewing the market and the important devel- opments relating to the companies, the shares of which are dealt in on the board, and thereby known by the investor to be legitimate, will be sent out to and published by the press, both local and eastern.
 The affairs of the exchange should be put in the hands of such capable and sound business men as are now favoring the organization of this scheme for the advertising and up- building of Arizona's pet resource. We believe that the most advertising should be done in dull times when the country and its resources are little known and therefore inactive; this is the way to turn poor business into good. And we believe that such an organization controlled by our ir- reproachable citizens would result in bringing capital to Arizona inspired with confidence in such companies as will be listed with the Prescott Mining exchange. The petit larceny methods known to exist among pro- moters in this territory, whereby they knock the other fellows proposition, in order to usurp the small amount of investing capital, must cease. and this can only be done by perfect organ ization like in the palmy days of Colorado, where there was evident a practice of mutual encouragement and assistance-eachs strived to help along the other fellows proposition, and all were for the good of the market generally, pushing the camp as a means to this end. There is plenty of interest, likewise capital, ready to be spent in Arizona's min ing stocks, but the brokers and pro- moters lack faith to advertise, often being confronted with the important question, (Which company shall 1 invest in and which are legitimate?" Until they boldly cover their own mistakes by deriding the other fel- lows proposition. There is no excuse for such actions, and all must pull and act in unison if the needed par ticipation of investors is to be gained.
 Now that Prescott has awakened to this fact, and it is the most important thing that has been discussed for the benefit of our mining interests since the advent of the railroad, let every public-spirited citizen attend the meeting of men to be held at the Burke hotel, this evening at $50 and give the necessary support to carry the meeting to the point of or. ganizing a stock exchange.
 Among those prominent in the movement ~e mention Alfred B Noxon, special representative of the Daily Mining Record, published al Colorado Springs, Colorado; T. C. Job, a prominent attorney; Judge T | G. Norris. R. N. Fredericks, Dennis Burke, J. c. Martin, editor of the Journal-Miner; Tom Shultz, editor oi the Prospect; G. A. Beach, Julian Willard, H. P. Anewalt, general pas senger agent s. F. P. x P. R. R.; John ! H. Hise, NJ. E.; T. c. Archer, NJ. E.. c. F. Riblet, Frank L. Wright, Col. S [ \. Hood; E. A. Rogers, editor of the Courier; all of Precott; Geo. E. San ders, G. B. Upton, Dick Hall, editor of News-H Herald; all of Wickenburg
 Or. D. NJ. Purman, w. c. Foster, A
 ]. Riwaads, district attorney; all o
 Phenix.