The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1909-04-10
ANTI.wILp CAT LAW.

WHO cat Dill, is one Oh the Dtst meas
ures enacted into law during the late
session. The Goldfield News takes up
the subject and treats it very in
diligently in the following:
This legislation, which was pass
ed by the just ended session OF
the legislature of the state of Nevada
comes as direct response to
the demand for some method by whic
mine operation and promotion shall
be placed upon basis which gives
the stockholders full knowledge OF
just what is going on. condition and
true worth Of properties, receipt and
expenditure of monies and condition
Of treasures of the companies in
which they are interested. In other
words, it is legislation which is de-
signed to make stockholders, promot-
ers and operators partners in the full
lest meaning of the term, and which
makes it impossible for unscrupu-
lous promoters to obtain the money
Of the investing public upon repre-
sentation that such money is to be
used in either mining developed pros
poets or in prospecting, or any of
the legitimate investments connected
with mining and then, under cover
OF the secrecy which the laws OF the
state have heretofore permitted,
squander or pocket this money which
is placed with the promoter in trust,
and with no means of legal redress
for the investor.
ALTHOUGH the state of Nevada Is
rapidly coming to the front as the
greatest gold, silver and lead pro-
ducing section of the Union and its
possibilities have not as yet begun to
be realized even by Nevadans, ille-
Ultimate promotions during the past
decade have taken millions Of dollars
from the public. Heretofore, the lax
ity Of the laws of the state relative
to the protection Of it's one great
industry has been such that the in
weston has had absolutely no way Of
ascertaining the merit Of any Nevada
rrF1Ynx prtpU1t1tr whieht has bees
brought to his notice, save that nc
personally travelled to the location
Of the property concerned, or hired
an expert to look it over. These two
methods OF securing information nave
been too expensive for the average
investor. Consequently. he has invest
d. "a. . - a
ed his money sight unseen" in a
amount proportionate to the smooth
ness Of the promoter. or the allure
m.ents Of his literature; has BEEF
"stung and "stung" again. and nov
has not the courage for further IN
yestment along this line save wher'
he has personal knowledge OF IN
merits Of proposition or can ae
mend upon the personal knowieds
of some tried friend. :,
1T is this withdrawal OF conn
dence and absence of legal protec'
ion which was largely responsible 10
the hardship which the man deVel
oping legitimate mines In Nevad
has suffered during the past wv
yaars True. the general financia
stringency added to this emDarrass
ment Of the mining industry IN NeV
ada. but had confidence IN Nevau
investments been maintained throus
wholly honest promotion and deSe'
opment, and by legal protection 7
investors. the financial stringenc'
would hardly have been felt IN IN
state.
Fearless and undiscriminatory en-
forcement Of the new protective lay
will. we confidently believe. result i
rehabilitating the mining industry !
Nevada. The men and combines ind'
y,dually and collectively controliin
hinge combinations Of capital nav
never for a moment lost confidence
in Nevada. for they have been apr
to gain full knowledge Of eyerytnin'
entertaining to the properties wnicl
thew have taken up before they begu
development. A few thousands NOR
a. less spent in investigating PROF
erty has been but a drop IN IN
hncket for them, incnsequentia
And due to them Nevada Is now !
ueriod Of actual production Whic
i almost unbelievable These pes
ple. however. do not extend susn
GENERAL development to the state q
A. he thousands of small investor
who associating themselves togetne
as stockholders, develop smaller i
dependent properties in all section
~ the state where experienced pro
pectors have found rich mineral q
posits but lack the means for deve
opment of mines. 1t is these investor
whom the new law will protect an
n protecting. viii induce an inpour
money which win result most rapid
III the full DEVELOPMENT OF the mine
al resources Of Nevada.
aTbe new law provides for SEN
annual reports BY each mining g.
nanv doing business In the s'a,
these reports covering not oniy :
actual property Of each company, = !,
what has been done on II during u
NJ months prior 10 the report; eaa
s g. Il monies received and
pended from any source ana N =,
manner: exsct condition o. 'leas.
-. stock reserves and issues 9
mon,es derived from such, ana "a
u snch recording Of stock ne.
~, sus .xhnlder may kn(