Show THE TRANSFER OF STOCK there is one feature of mining stock transactions that is much abused by tors and by those seeking to relieve fortunes great or small through this avenue of the mining industry and this is the failure of many to transfer stock into their own name when it comes into their possession in the form of orinal original or inal certificates with the endorsement dor of the previous owner attached thereto in inthe the active transfer of stock on the exchange it is all right and a convenience to handle endorsed certificates but when the stock passes into the hands of an investor he should see to it at once that it is transferred to his name upon the books of the company and that liew hew certificates are issued in his favor in the case of dividend paying stock this course is most essential as when the dividends are posted and paid the amount paid goes to the party in whose name the stock is issued regardless of who may be the real owners of the shares in question as the secretary and treasurer of the company are not supposed to know that a transfer has been made or that others are the real owners of the stock rather than the party to whom it was issued according to the records kept by the company in such case the original shareholder could draw down the dividend although he might not own a single share of the stock another feature of the negligence to transfer stock into the name of the purchaser is the fact that in case of an assessment ses upon the same it is often that the real owner has no knowledge of such action and his stock is liable to be advertised and sold without his knowing what has been done and for a year or more he may rest satisfied that he is the owner of certain mining securities when in reality he had long since lost all title and interest iu in the same tap an instance of this character transpired in salt lake recently when over ov shares of stock in a certain coin caninan pany issued in the name of one man was adver adap tided and sold as delinquent be because C a US e of th j failure to pay the small assessment this sta k had been sold by the original owner and had been scattered all the way from salt lake to maine the new owners however had failed to have the proper transfers dadej the he consequence being that the secretary of the company knew nothing of these sales and was not in a position to notify the new owners that an assessment had been levied upon the shares of the corn cora pany in due time this block of shares of stock was sold as delinquent and to this day many of those owning the stock do not know of the assessment nor of the fact that they have beien been sold out and that the certificates they hold are worthless and valueless A few have found it out aid and are writing to the secretary indignantly asking by what authority their stock has been sold many of these people would have gladly paid the assessment had they known of it but as there w was as no record made of t their h air possession of the stock the company wa was i s fully justified in selling the same and in pursuing this course would be protected by the law governing such action then too the holder of the endorsed certificates cannot vote the same unless he is a shareholder of record so that he loses his voice in the affairs of the company and can have no part i its management it wll va be seen then that the best course to pursue in the purchase of stock is to have it made out in the name of the buyer at the time of the delivery or to have the proper transfer made on the books of the company immediately after the endorsed certificate is in the hands of the purchaser this will save the buyer from possible loss and worry and is the only safe course to pursue |