Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-11-16
WILDCAT
Mines and men
LOS ANGELES CHAMBER Ol
MINES MAKING SPLENDID
CAMPAIGN.


ended the lives of many wildcat min
ing propositions, is arranging to go
before the next legislature to urge
the adoption of a law that will not
only compel the owners and pro-
motors of mining schemes to make
affidavit that they have put so per
cent OF the treasury stock receipts
into the ground, but 10 compel them
to pool the promotion stock until the
mining property is on a paying basis.
Also not to float any Of the promo
ton stock so that it will come into
contact with the purchasers of treas
ury stock.
Officers OF the Los Angeles cham
Der OF lines-and, by the way, j..
Ross Clark, president of the Clark
Copper company, is a director of the
organization-met last week and
were addressed by Rod King. father
OF the Wildcat Killing association +"
He explained to the officials the ur-
gent need of such a law as would
compel the expenditure of at least so
per cent of the treasury stock re-
ceipts for development purposes, and
also the need of preventing promo
ton stock from being sold and com
ing into contact with the holders of
treasury stock until the proposition
was on a paying basis.
His explanation was thoroughly
considered, and he was appointed a
committee of n to dig deeper for
details and to work out the idea for
the proposed new law. Mr.. King ac-
cepted the task, and, aided by j. A.
Armitage, he is now framing the bill
and obtaining the views of legitimate
miners and mine owners. The plan
is to send Mr.. King, who is the Sec
ond vice president of the chamber of
mines, to Sacramento when the leg
islature conyenes in 1908, to present
the bill.
Mr.. King. who is thoroughly con-
versant with the wiles and tricks of
promoters, and the purchases of
prospects" is enthusiastically in
favor OF the law he suggests, beliey-
ing that it will do more toward the
upbuilding and development Of legi-
innate mining propositions than any
other method. He points out that,
with 80 per cent OF the money re-
ceived from the sale of treasury stock
put into the ground for development
purposes, mining towns that now are
dead. would be alive with men and
money.
Contrary to expectation, the Clark
Copper company stockholders did not
hold their annual meeting and cleo
ton of officers today. The meeting
and election were postponed until
Monday, November IL, because of the
absence from Los Angeles of II. l..
Percy, promoter of the company, who
is its secretary. 1t is said that Percy
will return to the city during the lat.
ter part of the week.
Work OF the Los Angeles chamber
of mines is receiving favorable at.
t~ention and comment from all over
the land. The Produce Exchange OF
New York, and the American Mining
Congress have written to President
J. K. Mathews asking for information
Of the organization, and a complete
statement of its methods of opera.
ton and what it expects to accom-
plish. Rod King, James Hodgeman
j. V. Root and w. II. Fraser have
been appointed delegates from the
chamber of mines to attend the an.
nual convention of the American
Mining Congress at Joplin, Missouri
November IL. They will explain the
workings of the Los Angeles organi-
cation, and will invite the
to meet here next year. Five thou.
sand dollars have been appropriated
Tor the purpose of entertaining the
congress.
Attorney Calvert Wilson, expert on
mining corporation laws. has been
added to the mining investigation
committee by its chairman, MI. King.
Principles of the Los Angeles
chamber of mines are worked out in
investigating the location of the
mine, the title, the management and
development. In investigating the
management, every person connected
with the company is privately lnvesti-
gated as to his or her ~antecedents for
the purpose of ~ascertaining whether
they are honest and engaged in legit-
innate pursuits. The Clark Copper
company and the personnel of the
people connected with it, never were
investigated by the chamber of
mines, as both were organized about
the same time.-Los Angeles News.