The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1910-11-17
WE FAVOR ASSESSMENTS.


concen with the levy Of assessments by many companies
with the object raising comply with the legal require
holding mineral land The Miner in receipt OF many
letters asking for opinion the subject Of assessments sales
of treasury stock for development etc.
For many months The Miner maintained running comment on
these subjects it's editorial columns and only ceased when
thought its readers had become familiar with the editors views
and many Of them heartily tired what oftentmes repetition
Since then many readers have been added and Of the
Questions asked during the past few weeks little review Of
thu subject may not be out Of place at this time.
We have always favored assessments giving primary
compuson Of all stockholders joining in the provision
funds for developing property in proportion to their hold
ings Notice of usually includes report from the
m nager active officer telling exactly what work has been
accomplished what showing has been made during the progress
tbs work and the plans and prospects for the future Of the
mpany.
por have urged in favor Of this plan is the
given through all sharing in the cost of development
that will hold too large proportion OF the stock
Of course must not be inferred this that such action
always result of worcestershire organizations It Is
We know Of worcestershire companies which have
operated with single eye to the welfare of al stock
holders assessabe could possibly be- But such
zion entirely dependent the management without outside
check The tendency strong for the organizers Of such
pane to appropriate large proportion of the capital stock
for their interest the property and then depend the sale Of
small part capital develop the ground producing
The result, frequently, tnat lnaDly 70
Sufficient stock keep the development going forward compe
suspension sometimes with debts accrued and work
the sale of treasury stock becomes almost mposby
the suspension becomes indefinite and the stock deprecae
When holder becomes pressed for and endeavors to
dispose his holdings he has accept purely nominal price for
and this forced the market price Of the stock
II unjust both the holders and the management but until
way found for overcoming the will remain and
paper cannot offer suggestion to provide against such
forced quotations and the inevitable dissatisfaction which other
holders feel as result
considerable 1t effort with certainty any
time of having funds in hand to complete certain fixed amount
work unless the contract for such work withheld until the
required put property producing basis
be known advance consequently the price which
mast realized treasury shares be fixed
daRney The arest way and way which the companies
arang successfully the on-asessabe basis manages
the price according the work progresses We
m ohand companies which have continuously op1
aed this basis and give promise of satisfactory
distant date These the Great Western. Clear Grit Midway
Summit Excelsior and Rainbow Of there many more
BAT these quickly mind and the editor happens be
conversant with their methods
On the other hand the results from assessment
every hand They constantly before the public eye
Attention cenere1 them because of their advertise
ing and the of collecting is nearly great
the cost OF selling treasury shares The assessing company
contract for work ahead because it levy
provide the required and have collected within 60 days
from the date Of levy few Of the companies which have bsen
noticeably