The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-01-19
ASSESSMENT VERSUS TREASURY STOCKS

Tn the older DAYS Of Nevada there vas but n method employed in provid-
nartners and hat s by assessing the holders of interests In those days
a share usually represented a lnearf foot If the length o. tn Claim. although
NO particular fotw was specified in the certificate of ownership, the holder had a
,..,ra That be nossessed actual realty in fee simple ant this is one Of the reasons
h the ole inn ComHocker looks with favor upon thu practices OF thu I'm
panes that operated in he shadow Of Mount Davidson
pt tis feeling If landed propretorshp received a severe hw when the
nine reesed additional equipment, when miners wages were due or whenev a
game, was Put u - by the mysterious powers nat directed In administration
sionany temporarily embarrassed, while the n0nbonanzas the great majority
were always empty of treasury, except Immediately after calls upon tn STARE
holders
sa M,rv = boldero Of a foot or a fraction of a foot borrowed upon his realty and
property and eve sold feet in other mines % pay 'e nls' lew assess
and then, his resources at m end his sock went W !" Inc msnes' Duo"
a. deunouent sale The highest bidder at suchs sales never offered anything near
5 price which tn stock would command at any other time, for a delinquent
sale is al exaggerated bear raid in its effect upon the market
n holdero of thu delinquent stock received thu margin yer assessment M
cor+s ~ there was and went his way, a sadder and wiser man, % tn nom
that was mortgaged to pa previous assessment ant tool up me burden o. he
- =. n.d Iet a. years before, to again accumulate and again buy q foot or
I've IN ,hs nina that had cost him sc heavily, for the spirit OF speculation was in
=. .r an +rs comstocka and occasionally M OF the small fry made a winning
ara. related in history and they make good reading but greater heart interest
would attach to IN tales OF the iosers' thn oroKe spHi" 'ni uo'oa'00 """'''
Hannuvt he comuockw vast tn richest lode hus Tar discovered in the history
Of the world and there was the frequent sunshine OF dividends through M clouds
Of unfortunat reckless speculation.
In this new era in Nevada tne assessment sy"em mas o0n .'po'1e" -
the treasurvs stock idea, and a splendid idea it has proven to be. The investor in
mining stock may put his entire savings IN mln.s securities amns any r a'u mms nav NV
ak them from him. Once purchased, IL expense is at amend ne nine nay
nrosper md he will receive dividends 1t may meet with adversely inc the
worst that can befan him is the disposal OF his stock at less than .e price paia
II cannot be taken from him by M ina OF the omceis OF inc mpa
nurine the period of development before orr is encountered in paying guam
titles tn treasury reserve is the safeguard of tn stakeholder. Little by hsue
this reserve is placed uron the market and TN accfung money Is used 70 con
tirue tbe devdopmen work. Should bad luck befan the management and the
original treasury reserve b. insufficient to place the mine upon a paying bass
.hsrei 10 a further occurs The stockholders may by a majority vote add to the
capitalization, the nw issue J" DC pi'''u - "S
i~'n ~a,s "m mro,ednre Il must be admitted, reduces the pro rata value Of each
additional issue Of treasury stock frequently recOmpense for the momentary
shrinkago in value.
papers to see if he has had levied against MS holdings a claim tina ne VIII De
unable to satisfy, but must etnqush his catincate