The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1909-01-23
Governor Dickerson Message


The message of Governor Denver s. Dickerson was read in both
Houses of the Nevada Legislature at Carson on Tuesday. The
message makes numerous recommendations which the Governor
thinks should be carried into effect. The State Treasury, he says
shows a balance of 100000, while the taxable property OF the
State has increased more than 10 per cent During the last nine
months $1,000, 900 worth of bullion was extracted from the mines
and $4,000 was collected as bullion tax
The Governor urges more power for the State Railroad Com
mission; criticises a Federal Judge for failing to decide the suit
which harnesses the Railroad Commission, and sees no valid excuse
why the action should not have been decided in the nine months
that it has been in the United States Circuit Court
The grave need of sound banking laws is gone into at length
in the message, which recommends that all State banks be chartered
and that none shall engage in business without a capital oil al least
$4,000, paid up, and that no loans shall exceed 10 per cent OF the
capital, while 20 per cent of the deposits must be kept in the vaults
and that no bank pay more than four per cent interest
The Governor severely criticizes the State Board OF Assessors
and advocates its abolition. He says its uselessness has been made
fully apparent. The Executive cites the recent meeting in which
the assessment of the most profitable railroad in the State was made
70 IL per cent of its sworn valuation, while sheep and cattle were
assessed full value, or nearly so. The Board is held by the
Governor to be not only no benefit, but a positive injury.
The retention of the State Police is advised. The Office OF
State Auditor should be abolished, says the Governor. The
passage of a law levying a tax of four per cent on Che gross receipts
of express companies doing business in the State is favored.
The Governor goes into detail in the discussion of stock jobbing
schemes that are being promoted in Nevada, and among other
suggestions on this subject says: "The splendid reputation which
our mines, by reason of the incalculable wealth they have produced
and yet contain, enjoy throughout the country, has afforded oppor
tunity to constituencies promoters Of wildcat mining companies to
shamelessly exploit the investing public
ave are dependent, almost wholly, upon outside capital for the
development of our mines, and unless some effort is made on the
part of the State to protect the investor against the operations OF
this class OF brigands, we cannot expect longer to retain the con-
fdence Of those who have contributed so largely to our prosperity.
Simple justice to the investor, to say nothing of a lofher
motive, the good name of the State, requires the enactment OF a
stringent law for the protection of investors in mining securities.
1.-The most eficacious plan to eradicate the wildcat evil and to
aid the uninformed investor in distinguishing between Legitimate
and illegitimate company that 1 am able to suggest is to turn on
the light of enforced publicity.
All mining companies organized in other States and doing
business in Nevada should be required to secure a license in this
State All treasury stock should have printed across the face of
the certificates, in different colored ink from the body of the
certificates, the words Treasury Stock Promotion stock should
have the words Promotion Stock printed on the face OF the
certificate. 1t should be made a felony for any person to sell, or
offer for sale, stock in any mining company without the character
of the stock being printed on the certificate"
direct vote of the people, as well as the initiative and recall More
stringent laws regarding divorce n asked, and the Governor
recommends the passage of bill drafted by the National Congress
Of uniform divorce laws.
recommended for such purpose. The mortgage tax is declared un-
Just, and the people should be allowed to vote on the question Of
its change. A law abolshing lobbying and making it a felony
punishable by Imprisonment should be passed, said the Governor.
In conclusion, the Governor asked the Legislature to get to
work at once, and not indulge in useless delay.