The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-02-21
Holding Companies

Holding Companies
Discussing the contemplated legislation prohibiting holding COM
panies, the New York Sun remarks that the holding company represents
a method of doing business that is absolutely necessitated by the
diversity of the state laws of the United States and by the laws OF for
eign countries, and cites some examples from the metalurgical indus
try.
One of these is the Amalgamated Copper company, which sells
$2ooooooo worth of copper each year in Europe and in parts of the
globe outside of the United States. If the company, for instance, were
to do business directly and in its own name in England it would have
to subject itself to all the minute regulations of the English corporation
law just as if it were a domestic English corporation. The burden OF
complying with these regulations, even is mere routine, would be so
great Is substantially to bar it from England; but a greater difficulty
still would be the foot that the company would be subject to the high
English income tax upon its entire business as a company. If the COM
pany were to do business in England through a %middleman, his COM
mission would be SO large as to make the business in great degree I'M
profitable. Therefore, the companys only recourse is to do business
in England through a small organization established for the purpose,
owned entirely by the Amalgamated interests and II substantially as a
branch of the Amalgamated company. The same state of affairs ap
plies to other countries besides England; and it is obvious that the
Amalgamated company can transact its foreign business as a profitable
commercial enterprise only in the manner described.
Another instance that occurs out of scores that might be selected
lis that of the International Nickel company, one of our great corpora
tons, that mines its ores in Canada and smets them in a splendid plant
which it has lately erected in New Jersy at a cost of over $Soooooo
The Canadian laws as to foreign corporations are such that the COM
pany is compelled to do its mining business there through a subcompany
organized in Canada. II the International Nickel company could not
exist IS a holding company it would have to go out OF business.
One of the most unique and interesting meetings ever held in a
WSSlClu StdlC WdS uC CdICN HSl ulSlNH t ISNb VII January ~
and ~, says the mining and Scientific Press. 1t was unique because
it was probably the first instance in the country where a movement
arousing such statewide interest was started and carried to a successful
conclusion by state officials. These included the state industrial COM
mission of Nevada, and the mechanical and electrical department and
Engineers club of the University of Nevada. The meeting was in
teresting in that it brought together mine managers and miners, rail
road officials and trainmen, power plant superintendent and operators,
members of the university, faculty and students, state officials, labor
representatives, engineers and professional men. The total attendance
was six hundred. 1t was productive of lasting benefit in that it focused
the attention of the entire state n the Safety First movement, leaving
as a record valuable papers and discussions.
Metalurgy has become a highly developed art based on scientific
principles and more and more exact application of these principles is be-
coming necessary as time goes on says the Mining World. In the old
days results that could be obtained by inefficient rue-of-thumb methods
were all that were required. But since then there have been great
changes in the requirements in the composition of the metalurgcal pro-
ducts, the quantity OF output, cost of production, etc. The field of
metalurgy has been so greatly extended by modern discoveries q i re-
qurements that the successful netalurgist must be a man of scientific
knowledge a swell as of practical experience.
Reno Gazette: Among the property sold at Indianapolis for taxes
last week was the Washington Boulevard residence OF former Senator
Albert ]. Beverage. About the time the county treasurer was making
this sale Mr.. Beveridge was telling the people of Nebraska how to run
this nation of a hundred million people with 80 billions of property
Mr.. Beveridge was the chairman of the national convention of the pro-
gressive party at Chicago two years age.
The American general manager of an English railway has been
classed as a undesirable alien by a labor leader in the house OF COM
mons. He no doubt looks upon all Americans as undesirables.
The estate of the late William Deeing is valued at SI5oooooo
Deering was the inventor of the reaper and if one is to Judge by the
size of his fortune, reaping was his long suit.
That Oklahoma Jury evidently took the ground that a political
conspiracy was behind the suit against Senator Gore.