The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-09-18
Meeting Of Mining Brokers

AS time goes on the mining brokers OF the country
seem not to have lost interest in the convention called to
meet in San Francisco next month Tor the aVoWeo pun
pose OF a general house cleaning. The literature sent out by
The San francisco stock exchange from time to time IS
brave in its declarations for future betternent- For III
stance:
1T is recognized by mine owners, mining engineers
and legitimate mining brokers throughout the country to-
dav that the mining industry suffers too much from the
cDeration of sharks whose energies are directed toward
beo1lling money out OF the pockets OF over-conf1dent IN
,estors in mining securities instead OF taking 1t out OF the
ground. 1t is to correct such conditions as TINS that the
great convention of mining brokers OF the United states
will assemble in San Francisco September 2ISt and END
and effect an organization having for its object the el1m1-
nation of dishonest factors which now impede and lnJnre
the mining business.
That the object OF the convention is daily enlisting
the hearty support OF brokers who deal in mining shares
throughout the country is attested by the letters which are
being received from stock brokers in all the principal
cities. 1t is expected that with an active membership OF
mining stock brokers and an associate membership OF min
ing men intimately familiar with all phases OF the indus
try, a body will be formed which will prove effective IN
cnrbing the activities OF the d1sreputable element that
keeps thousands of investors from putting their money
into mining properties OF real worth.
BY establishing a common list for all meritorious
mining securities which can be called on all the exchange
boards which handle mining shares, and fixing a certain
standard to which these mining stocks must conform be
result in standardizing the brokerage business to such an
extent that investors will be protected in much the same
degree that holders of industrial shares now are"
The current issue of Mining and Scientific Press, in
ticking editorial notice of the proposed meeting of mining
brokers, says:
For the first time in the history of tn: country
the mining brokers ale to meet in cOnclave TO tormu-
late a few simple rules for the protection OF the min
ing industry and the investing public-so it is an
nounced. And it is added that by realizing these
two PURPOSES the brokers expect to further their own
interest. The idea is excellent. Stock exchanges
all over the country have arranged to send delegations
to this brokers' convention, which is to be in session in
this city from September 2I to IS. The circular says
that this meeting will be concurrent with that of 'the
American mining engineers" but the meeting of the
institute will be held during the week previous. How
ever, the mining congress will be in session at the
dates mentioned. 1t would be well if a committee of
brokers would appear before the congress and explain
its ideas for "eradicating those pests and hangers-on
Of legitimate mining enterprises which have in the past
done much to discredit the mining industry and for
eliminating the irresponsible and market rigging
elements in the brokerage business A frank dis
cussion might be useful; certainly it would be inter
esting.