Los Angeles herald., 1906-06-22
STOCK EXCHANGE
MAKES NEW RULE
MINING COMPANIES MUST GIVE
FULL DATA
Listing Fee Of One Hundred Dollars
Required for New Concerns and
Annual Calling Zee From
Old Ones

At a meeting Of the governing board
Of the Los Angeles stock exchange
yesterday resolutions were adopted
providing that hereafter. a listing fee
OF $100 shall be exacted from every
mining company that wishes to have
its stocks traded in on the exchange.
This listing fee requirement. win not
apply to any Of the stocks now on the
list, but these will be required to pay a
ing fee will cover the S25 calling fee on
them for the first year.
In addition to this a mining company
that asks to have its stock listed on
the exchange will be required to fill
out blank, giving informa tion regard
ing the financial and physical condition
of its property. Failure to answer any
of the questions asked will be deemed
sufficient reason for rejecting the appli-
cation. Furthermore, any mining stock
now on the list or which may hereafter
be listed, on which the calling fee of
$25 is not paid, will be stricken from
the sheet.
only to Mine Stocks
For the present, at least, the new rule
will not be made to apply to any stocks
except those of mining companies, but
DlCHlDtTS VI lDG BOVtTnlIE DOdru say
that as against these they will be rigid
ly enforced. They take the position
that the requirements are merely in line
with those in force on every other ex-
change of any consequence in the coun-
try and that the trading public is en-
Titled to the information which the
companies are asked to furnish.
The blanks which the companies viii
be asked to fill out contain the follow
inpr nOints Of inform a tiOn.
Officers-President, vice president,
treasurer, secretary and directors.
Location of transfer Office and name
of transfer agent, and fee, IL any, for
transfer.
Date Of annual meeting Date and
place of Incorporation. capitalization,
number of shares, par value Of each;
assessable or nom -assessable. Number
of shares now in treasury, and condi-
| tions, IL any. referring to their sale.
Amount of cash in treasury.
List of Properties
| List Of properties owned by company
and exact location in the district, with
area of each separate claim. What
properties are patented. What proper
ties are held by location. Has applica-
| tion been made for patent? If so, has
period for advertising expired? Are
there any adverses? If so, what adj
verses have been filed? What part of
the property is affected by such adj
verses?
Total area Total area adversed-
Is there any litigation pending? What
work has been done on the property?
| Surface improvements and machinery.
Underground improvements and ma
chinery. What is the capacity of min
| ing, milling and other machinery?
| Statements of development on each
claim, number of feet and approximate
amount of expenditures. How many
employees? What properties are at
present worked. If properties are not
being developed, state reason and give
date when work ceased.
When was the last stockholders
meeting held?
Are the treasury funds deposited in
| the name of the company? With what
| incorporated bank or trust company?
Is any of the companys property
bonded or leased? Give particulars.
Liabilities and Salaries
| Liabilities of the comapny secured
and unsecured, including taxes?
What salaries, if any, are general Off
| GERS of the company to receive?
Statement of resources and liabilities.
! What is the present market price Of
stock and where is it being sold? II
not upon the market, what price do
!
dends have been paid, If any, and when
payable? Gross production to date
and for the last twelve months. Net
production to date and for the last
twelve months.
The new rule also provides that the
following agreement shall be signed by
the president and the secretary of the
company:
Agreement Required
| sGxra t.o,oI,.v q <r,.oo 70 ft1rrict, a r~ar1orf
of the condition of the company when
required, and within ten days after no.
tification, and also agree to give notice
| in writing of any increase in the capi-
tai stock or the offering of treasury
stock for sale at least fifteen days be-
fore the issuing of, or offering OF. said
stock, and also of the time OF opening
and closing of transfer books"
This subject has been before the
governing board of the exchange for
| some time, and the action taken yester-
day was foreshadowed by The Herald
a few days ago.
H. L. Percy. chairman Of the listing
committee, has been one OF the most
earnest advocates of the change, and
referring to the resolutions passed py
the board yesterday he said:
'The step which the governing board
of the exchange has just taken is in the
interest of the trading public. The rule
with respect to the calling fee VIII go.
4 into effect July is, and from and after
that date there doubtless will be several
changes in our mining list.
Some of the companies possibly may
object to paying this fee, but there VIII
be no exceptions. The rule VIII pc
rigidly enforced, and any company thai
fails to meet the requirements Will be
stricken from the trading list.
with respect to new stocks, we shall
demand a listing fee and such informa-
tion regarding the property as IS xur-
nished every other exchange.
1--WE are trying to place the stock ex-
| change on basis which will command
the confidence of the public. and l be-
lieve the action just taken will prove to
be a long step in that direction"