The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-06-13
KEEP STOCKHOLDERS POSTED

ur Nrws ts in receiut of from rs % $50 lettersa week from its ubcrib-
es dealing with mining companies and with the various phases OF me
inquire about various companies others make complaints and still others
oer suggestions. Many Of those letters are prompted by the factt nat there
TO b n o other avenue o. getting the disintersted news of the camp and of
ind,vidua properties, m we nus say that the letters which complain OF Inc
failures Of companies to issue reports and Of brokers mo after senns customers
stool. ignore them, appeal to us stronger than any others. This policy is not only
,pfut to stockholders, but injurious to thu camp and the mining business We
reproduce me o. many letters as a sample:
Dears ir-Your editorial in a recent issue OF The News makes tn question,
GoldaeId who has its welfare at heart and hopes to see it int the position
IL Justly deserves To my mind, Goldfeld is reaping the whirlwind sowed by IN
p1nclpieG S1ia mm apa1 1n nT.S NV Sm ~ This Arm promotedc company after
company selling the stock at prices that obligated the fm to carry n an g
gac nmeud az referred prospects, No doubt many Of the are of merit, but
after " years. stockholders are unable to obtain any reports nor even II locate
promotsons and I feel that the Chamber Of Commerce should insist that -
D.. ome effort to bring their promotions to a successful issue
promoters. those Arms, HON your press recommended as honest ant trust
worthy must discharge their obligations to their clients
The complaint lodged here is against promoters who after getting heir
clients, money, fail to work the ground, and then refuse to answer letters giving
desired information #ae3#
Blu. this complaint Toes lot lie against promoters only. In the natter Of
keeping stockholders posted, it is as common with the legitimate mining enter
prises al with the wilde OF course the wild carerw nil forget the stock
buyer as Don as he gets his money. That's to his interest; ~ 1t is not % tn
iuteres. If the egtimate mining enterprise to ignore stockholders and keep them
in ignorance OF plans and conditions. There are scores OF legitimate propositions
in operation in this camp supported by the money If nonresident stockholders,
AID among them al, there is a scant dozen who tissue monthly, quarterly Or semi
annual reports. II is poor business It is a shortdghted policy. The stock
AS a rule, tn buyer Of mining stocks is a reasonable Individual H knows that
mining is a chance, AM that the chances ire really against him, and he is pre-
pared to heart nwelcome news and will take his medicine without complaint
But he does grumble If he can't get any news, good or bad; and he has a right TO
grumble If he is totally ignored.
Although it involves trouble, time ant expense, we believe that mining CON-
panes would make more in the long run by gaining confidence in their integrity
md good faith. if quarterly reports 1t least, were issued regularly The plain
facts favorable Oh otherwise, are what is wanted. It is unnecessary to try to
holder the satisfaction Of at least knowing that he is a party I, the proposition
ant is no to be ignored as soon as ne gives up his money.