The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1911-06-22
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THE MINER to any person whose
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Again comes inquiry from eastern holder Of stocks
regarding This he has received added
shares the company in for his and he
we'll pleased that he little dubious receiving
when necessity its issue and the
could be as readily collected.
person this need have
fears about the company dpatng its treasury This
method probably because the has large
of stock in Its treasury and with of issued
smaller would bring in the amount Of money
We have received the past 30 days several enquiries about
Some of these complaints about properties
lying idle when stockholders willing pay assessments
and push development.
For many months The Miner maintained running COM
these its editorial column and only ceased
when thought readers had become familiar with the editors
views and many of them heartily tired of reading what
cessay oftentimes repetition. Since then many readers
have been added in of the questions asked recently
little review of the subject be of place this
time.
We have always favored giving primary
the compuson of stockholders share in the provision
of funds for developing the and the bea
ton of the in making complete returns of the
expenditure of funds provided by There no legal
requirement for such notice stakeholder but there is
written law which precedent has established such extent
that the failing to make such statement finds consd
cradle difficulty collecting and the standing oil
such company consequently impaired to noticeable extent
Happily there many such instances be noted because
the habit has become almost universal With this of
expenditures is always included of the or
active officer telling exactly what work has been accomplished
what showing has been made during the progress of this work
and the plans and prospects for the future of the company
The main point have urged in favor of this plan the
given through all sharing in the of development
that will hold too large proportion of the stock.
be inferred from this that such
We know of assessabe companies which
have been operated with single the welfare of all
stockholders assessabe could possibly be- But
such action entirely dependent the without
outside check The tendency strong for the organizers
of such companies appropriate large proportion of the
capital stock for their interest in the and then depend
the sale of small of the capital to develop the ground
producing basis The result only frequently is that
inability sell sufficient stock keep the development going
forward compcs suspension sometimes with debts accrued
work the sale of treasury stock becomes
indefinite and the stock deprecates When holder becomes
pressed and endcavos dispose his holdings he
accept purely nominal price for the stock and this
forced sale price of the security. unjust
found overcoming the system will remain and The Miner
offer suggestion to provide against such forced
ations and inevitable dissatisfaction which other holders
feel as result.
Another objection that the of selling treasury shares