Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-01-31
PUBLICITY LAW
VALID IN NEVADA.
Mining Companies Holding For
eign Charters Required to
Show Receipts.
ALSO THEIR EXPENDITURES.
Many Did Not Know OF It's Existence
---Commotion Created In
Goldheld.

It has developed that there Is law
on the statute books Of Nevada which
contains the following section, which IS
taken from chapter los, Nevada statutes
1901:
Section i.--"All foreign corporations
doing business in the state of Nevada
shall. during the month of January Of
each year, publish a statement OF thoif
last years business in some daily news
paper In the state Of Nevada for a pert
Cd Of one week.
"The penalty for not complying with
the above law Is fine OF 500 for each
month that the published statement re-
mains unified with the several assessors
Of the state"
The existence Of this law has not been
generally known BY owners Of mining
property in the state on the west. The
fact was brought out quite toIclply py
one OF the Goldheld papers n few days
ngo and IL raised quite a commotion In
that camp.
The purpose Of the law IL to protect
Investors as much as possible against
the operation OF fake mining concerns,
and provides for the publication or the
amount OF receipts and expenditures AT
least once a year In the manner stated.
At the assessors Office in Esmeralda
county. inquiries made by the Goldhsid
sun developed that very Few people had
complied with the law.
Bill ingalls, of the Palace, who was
sheriff of Esmeralda county for 10 years
up to Jan. /, 1906, when approached on
th.t ha
law existed, but that while he was in
office there were but very few approx
mately. who filed their statements with
him as the law required.
Those who did generally sent along
A. Clipping from the newspaper IN Wnich
the required advertisement had been
made, Some sent whole copies of the
paper and from these he clipped the
ad and filed ii with the affidavits. He
remarked that the mining corporations
we're comparatively few, the majority
being outside corporations engaged In
mercantile. railroad and other pur-
suits,
Atty. Milton NJ. Detch. of the law
firm Of Detch & McMullen, appeared
TO be about the only person who
seemed at all posted and who advised
his clients to do as the law requires.
He said that last year he was prac-
tlcally the only one who had filed the
necessary statement In the assessors
bffice. This was In connection with the
Original Bullfrog company.
He admitted that the law appeared
10 many as a sort OF dead letter, but
remarked that he did not care to take
any chances by having the district at
torney, at some later date, hot upon
his trail. That the stipulated tine
could be easily collected, should the
law be enforced. ne could readily see
and he does not propose TO be caught
unawares
In the hurried search of Nevada cor
poration law today by many who are
Interested In various companies there
were found several little sections that
hey were unacqualnted with and that
will In all probability cause another
furry before long.
Particularly Is this due TO Section
1852 OF the compiled laws of Nevada
and which Is amended In Chapter ~.
page ii0, OF the Statutes OF Nevada.
March s, 1905.
II states that thu corporation doing
business In the state under an outside
charter must have an Office IN the state
and provides further that In case the
principal place of business OF such cor
poration shall be removed out or the
state, that there shall be an agent OF
such corporation be appointed In this
state, In the county where the property
Is situated, upon whom all legal pro-
cess may be served, and the failure OF
such corporation to appoint such agent.
shall be subject to fine Of $50 per
day. 20 be recovered In the manner Of
the state Of Nevada as in the fines and
nanaItiseb