Daily independent. [volume] (Elko, Nev.) 188?-1915, 1914-12-19
CAREY AGT STOCK
IS TRANSFERRED
NOT 4 BIG DEAL BUT ONE OF
PECULIAR sIaAlFlcAHcE
AT THIS TIME

| Last Thursday the writer witnessed
the sale of block Of STOCK in the
Mary's River Carey Act Reclamation
Co. 1t is the first transfer Of stock in
this company that we have heard OF
for some time. Both of the publishers
OF this paper have stock in this com.
pany, and as the transfer is OF inter.
est to us, SO viii the score or more
Of other local stock holders that we
know of find interest in it. There has
heretofore been some little doubt
just a little-of the real value of this
stock. but the transfer In question
establishes basis by which each
stock holder can reckon the cash
value of the pretty green piece of
paper he holds bearing the name of
I: this corporation. The sale came
about in this way.
| A number OF business men were en-
gagged in conversation, and the tonic
was the Marys River Carey Act Recla-
nation association. (That no one
might think that this is fairy story
or dream, we will give the names
, of the two principals to the deaI.)
Justice H. U. Castle remarked that he
would like to dispose of his stock, and
Mr.. R. H. Mallett asked him what he
would take for 1t, "Ten cents" re-
piled the judge. "That is ten times
as much as it is worth" returned Mr.,
Mallet, "but for certain reasons
want your stock and will pay the price
you ask" The money was Hin hand
paid" the certificate was duly en-
dorsed and witnessed, and the deal
was contaminated
'You had better buy cigar with
this money" remarked the judge to
the writer. This deal was also con-
summated.
The stock certificate represented six
hundred and fifty shares at a par
value of one dollar per share. And
so real basis is established to esti-
mate the cash value of stock in the
Mary,.s River Carey Act Reclamation
association. With six hundred and if
ty shares of stock quoted at a few
spllffs OF smoke. sit eassuot require
the employment OF the calculus to es-
innate the value of certificate of
any denomination Now comes the
interesting part of the story.
%: G. Mcclellan, who organized this
corporation, sold the stock with glow
ing promises. and when he had ooIlec-
ted the money got busy with another
scheme, known as the Greater Hum
boldt Reclamation Project" is In Elko
and is trying to get the stock holders
OF the Mary's River Carey Act RecIa-
nation association to exchange their
stock for stock In his new concern.
Such an exchange would mean the
transferring of any and ali assets Of
Carey Act company to the Greater
Humboldt Co. These assets are In the |
shape of certain maps, charts; water !
rights, etc. He has been altogether
in his mission so far. and
there is not a chance in a thousand
that he will succeed in 1t. There is |
probably not stock holder in Mary,s
River project who thinks his stock
worth continental damn, but all the !
expressions that we have heard are to |
the effect that 1t is preferable to the
Great Humboldt proposition which |
Mr.. Mcclellan is now promoting. And
the writer for one. here gives notice
that If the board OF control of the
Mary's River Reclamation association
should attempt to transfer the assets
of that company to the Greater Hum.
boidt Reclamation association we win
endeayor to restrain them by legal |
process. And we know of several 9th.
ers who will join with us In such a
move.
Here let 1t be said, however, in jus.
tice to the board of control, that we
have positive knowledge that the said
members have no suoh Idea In mind
Now here is point worthy OF con-
sideration. 1t isfput down plainly. in
order that those who run may read
and understand. When repre1enta.
tive business men refuse to exchange
stock which they consider of no value
for other stock, they furnish fair
Idea Of their estimate of that other
stock.
Personally. we regard the Greater
Humboldt Reclamation association as
menace. II we understand IT, and
we think we do, 1t would take from
the people the ownership OF the sur
plus water of the Humboldt river and
place II In the hands Of corporation.
aud that corporation would have the
right TO sell the same at sueh o price
as II saw AZ to Establish. IT would
thereby create monopoly Of far