The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-01-30
wILDCATTERs SHOULD BE CURBED

HE PRESENT session Of the Nevada legislature ha it in its power to do
much toward Fastening he return Of public confidence in Nevada as a
i rich field for profitable mining investment Doubtless a bill will be in
toduced which among its provisions will demand that all corporations doing
in this state publish semLannual statements showing receipts from all
shipments" etc, etc.; likewise a more fully itemized statement of work done and
other expenditures, or the purpose II showing stockholders where their money
has gone; the bill making misrepresentation in these statements a felony. A
state I'M Inspector vii douotess d. created ne Of ms anaes VIII d. 20
verify the companies statements as to extento IF operations upon the various
vestr will trn a quicker car mi a more ready purse to the Nevada promoter.
The present law is wholly inadequate and was apparently passed as a graft
r ~ sas asMv rs-.nsr.r otvtns recs,rts n .rr.nd,turss for Tho wear
Theses statements in some instances are published, u not moret than a quarter
of the companies pay any attention to the claw because it is manifenly buncomhe.
lucid IS mud They mean little or nothing. If statements arr to be published it
is for the information If stockholders, and should contain all the sources Of
revenue hemised; likewise, all the expenditures. such As salaries. once expenses
work done and amount paid or same and these statements should be sworn To-
Many Of thu statements % published are no eve signed and the law should
appiy1o domestic as well as the foreign corporations.
Nevada !, not the only state afflicted with "vldcats' and is not the only
sfate pand1NG1 10idN AeoG v from clippings sem W. t1s+
the governor Of washington has felt called upon 70 ask 81 the state legislature
m law to hedge about and protect the public against Inscriptions promoters
In hsm message o the legislature, Governor Mead makes certain recommendations
on ttiss subject. The governor says:
-Issit aa.. mining mining IN this stat ,so often sn, has .s sua@sd ,, because IS Of the
aons 2 interruption. promoter ter TT. The , an.ss, mssssn, freedom I'M with wit r which
districts q this state "a sass.a es,um upon %. the ssni industry Of O Washing a%
@s IN d = state q this most desirable Class # faudulsns
cent sa purchaser Of stock, a Wei as the legitimate promoter from the II.
~ sssl since e . %sa e as1e,nss msy .h aaps i g. m y sP psisS on sss liable a so ss al al
asst, eo = sessst. n% I'll e eas%s as: . Rassn. should "a s ne p saDasss S until in al P1 Of
s n t ss.su,y . sssa s ass Ss' =. d plssss IN GH .s q %91 m1su as az ,sas from ons ls q. Of
ss a ssasny . '. esata ina .t Ssn ss4 s SIX monshs ma an sash s moneys ss sS"I% be
nsssrpsa sssa : vim W IA sa. ssessnsi safeguard y s1s ss. ' interests @s" Of invs sssme Dc
,.ee, The ,a@rp .sss1s . Of 1 1ss nsss. mining ansn . s,ss"s .1 ss' p.s. ns S'rn lsain but IS the q
legitimate operation and it should be permissible to incorporate leasing com
paniss, but strict laws should y enacted making it impossible to float such stock
without the character II the stock being known, SO that it could not be repre-
sented as stock in a holding company. for instance Full itemized statements
failure to file such tatenents, and n o tdMng with the law b allowed Publicity
would g a long way toward keeping the sponsors FOR companies in thu straight
and narrow way.