The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1911-05-23
Will PUT A stop
TO INDICATING

in the legislature of Massachusetts
which, if passed, will primarily be of
great benefit to mining investors in
that state and should be emulated by
every state in the union. 1t is evident
that the war being waged against
wlldcatters through various avenues of
publicity and state and national au-
thorities is rapidly crystalizing into
an effective and far-reaching campaign,
and the investing public may rest as
sured that before the campaign is
finished fence higher than the pro-
tective tariff will be erected for their
protection.
In this connection another sugges-
tion worthy at least of consideration
comes from a policy in force in Ger
many, which provides that any persons
selling mining stocks shall be officially
registered, and the qualifications for
securing such official registration are
so strict that it places an almost inn
penetrable safeguard around the min
investment business and makes the
promoters of questionable mining
propositions stand aside and line them
selves up as members of the Ananias
club, and if they persist in attempting
to continue in their promotion schemes,
prison cell awaits them.
The original anti-wildeat bill intro
duced in the Massachusetts, legislature
was turned into the lower house and
was based upon a resolution introduced
in the mining convention in Los An
geles by f. $. Mendals of the New
York Curb market. During the last
week there has been substituted in the
Massachusetts enate a new draft of
the bill, which is an improvement on
the original and is as follows:
Section l. An officer of mining
corporation who makes a false state
ment knowing the same to be false in
an application to any stock exchange
to list the shares of such corporation
shall be punished by fine not exceed
ing FIVE hundred dollars, or by impris-
onment for not more than two years.
or servent of mining corporation, nor
any person dealing in the shares of
such corporation shall cause to be pub
lished any advertisement of the shares
of such corporation in which any state
ment is made of the value of the prop
erty of the corporation, or of its pres
ent or prospective earnings, or of
prospective increase in the price of the
shares. unless the president and ma
iority of the directors of such corpora
tion within go days prior to the date of
publication of such advertisement have
iled with the commissioner of corpora
tions in such form as he shall pre-
scribe. a statement under oath of the
financial condition of the corporation,
"A full description of its property, and a
statement of the earnings, If any, from
the operation of the same for the fiscal
year next preceding the date of the I'll
ing of such statement.
Section 3. Whoever, having caused
the publication of such advertisement,
or being a promoter, officer, clerk or
servant of such mining corporation, or
a broker or agent for such corporation
or such promoter or for the person
or corporation causing the publication
of such advertisement, sells or offers
for sale any shares of such in such cor
poraton knowing that any statement
in such advertisement is false or is in
consistent with statement filed under
the provisions of section two hereof,
shall be punished my fine of not more
than $500 or by Imprisonment for not
more and two years.
Section T. Whoever violates the pro-
visions of section two of this act shall
be punished by fine of not more than
5000 or by Imprisonment for not more
than one year, and an officer or direct
or of mining corporation who signs
any false statement fled with the com
missioner of corporations under the
provisions of said section, knowing
such statement to be false, shall be
punished by fine of not more than
$1,000 or by Imprisonment for not more
than two years.-Goldfeld Tribune.
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