Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1914-01-21
STOCKHOLDERS TO HAVE A VOICE.

T HE recommendations Of President Wilson'S antitrust message
are excellent they but they do not go far enough
and the Government TO insist ON supervision that WI"
cmpel oporaon TO not alone nterokng directorate
hut give small stakeholder chance to express himself at e
annual meetings and elections of directors 1t notorious ac'
that the small investor has upon neroper when
ever he dared appear and have the erntery to ask
questions affecting matters policy and He was re-
garded neumbane whose only service was to buy stock
and the pleasure of the men who controlled the aestms
Of the company So exercising his prerogatve stock
holder he was simply tolerated and hundred to the extent sitting
Ground and watching wheels of finance evove in well worn
groove transacted all of the business OF the meeting
and stakeholder could hostility but his rage ana
indignation mpotent which attention was PAID
The whose makes possible the huge eomb
nations capital evil His presence dd
not of the directors to do they had planned IN
advance if small investor objected he was soon convinced
that he was hopeless minority and that he had rights which
any corporation bound to respect An apt illustration
of the system is conduct of the New Haven Hartford
railroad which thousands of small investors looked Tor he
dividend on depended their actual living Widows and or
phans erep past the earning of life with savings locked
M in railroad securities themselves stranded by the asea
of the that recognized as
the backbone England finance They knew nothing OF the
details management and gained nothing by the manipulation OF
stocks All they allowed know about their investments was
that the directors looked after the operation and management
they peeved they had the right to withdraw by selling then
stock and removing themselves from the paths of arrogant
oligarchy.
The trouble with most directors that they forgot they owed the
lost his confidence they impaired their credit The English
French way doing things In those countries thu
small much right the moneybags presiding
the meeting what's these people usually exercise tina
right Europe stockholders meeting conducted openly an'
big corporations frequently compelled to rent large halls
accommodate hundreds of stockholders seeking information
The remarks apply the of mining companies
corporations the small stakeholder with
ou disregard open contempt Letters asking for information
basket and the holder of tw
forced realize that his usefulness whe
he commits his the management The only difference be
mining companies and the railroad corporations that tn
periodical of underground conditions tina
throw light the condition of the property while the raj
think they charitable they funis
information ye9r.
The remedy for this grievance publicity The small
entitled information and when this information withheld
advance the interest of speculation it time for the step
with compulsory clause opening the books all legitimate
mands The day of has passed People facts
not theories forecasts They willing stake their
against that of the the problem prdctn
the future
Tonopah the storm last Sunday morning Judging
the weather with ureycues
-
This the time to remember that President Taft