| Show MINING CONGRESS WILL OPEN TODAY Delegates to Tenth Annual AnnualS Session S at Joplin Mo Begin egin Their Work WANT UNIFORM STATUTES DETERMINED EFFORT TO BE MADE TO PREVENT FRAUD Joplin Mo Nov 0 OA A number of delegates and visitors arrived today to attend the tenth annual of the American mining congress which will convene In this city tomorrow morning in sessions which arc are to con continue continUe Untie through the th week First Vice President Thomas Ewing of Vivian Ariz was the first of f the thi national to arrive Visitors came today from Mexico City New NewYork NewYork NewYork York Nevada California Wyoming Pennsylvania and Colorado There will be a spirited contest for forthe forth forthe the th honor of entertaining the next an art annual annual nual congress Spokane Wash Yash Los Ls Angeles Reno Nev and Columbus 0 O arc are the ho ambitious clUes cities now actively In the race The candidacy of at Colum tua is in the Interest of a movement to make the congress yet et more nation national al nl and nd international Int than it has been heretofore Previous congresses have been held in the west Joplin and hn its people are extending the glad hand to the visitors The downtown sections of the city are tastefully decorated with flags and bunting myriads of electric lights blaze on arches over the principal streets and a number of the larger ores are decorated lavishly in rec recognition recognition of this most important meet meetIng meetIng meetIng Ing in the life of the city Incidental to the regular work of the congress ss thorn there will HI be bo side trips over the lead and zinc district for which purpose more than one olie hundred automobiles automobile will be placed at the disposal of the enter entertainment entertainment entertainment committee Many Utah Delegates A large largo number of representative min mining minIng mm ing men from Utah and Nevada will wit willbe willbe witlie be lie among the delegates In attendance at atthe atthe atthe the convention Today Todar the delegates will willbe willbe willbe be taken in automobiles to visit the min mining minIng mm ing camps at Chitwood Belleville Carl Junction Badger Galena and Baxter Springs Luncheon will be served at Ga Galena Galena Galena lena lenaIn lenaIn lenain In the evening the convention will open formally wit with addresses of welcome by Joseph W VT V Folk governor of Missouri Mavor Osborne of Joplin and Colonel H HH HH Hii H ii Gregg on behalf of the committee of offitt fitt ft Responses will be made by the of or officers of the mining congress The fol following following following lowing day the actual business of the con congress congress gress will be begun Reports from the standing committees will be taken up and papers on pertinent subjects read by b mining experts Each day various top ics ks of especial Interest to mining men will be taken up and on Saturday trolley trolle excursions will be made to the mining camps The ladles of Joplin have arranged for special entertainment for the ladies ladles ac accompanying companying the delegates and members to the session s slon of the congress Recep lions Excursions drives s and automobiles are arc included In the plan for tor the enter entertainment entertaInment entertainment On Friday Frida evening a n ball ban com corn complimentary to the visiting members dele delegates delegates delegates gates and lIdes will be given To Fight Frauds An important feature of the work of the mining congress will be the endeavor lo to prevent the existence of fraudulent min mining minIng mm ing schemes Laws will probably be drafted which the Ute congress will wilt ask be passed by the various state legislatures and the tho United States contemplating contemplating plating the punishment of promoters of fraudulent mining schemes At the last session of or the congress held eld eid In Denver a year ear ago a committee of five prominent members of the mining con congress congress congress gress was appointed for the purpose of devising and demonstrating methods of preventing fraudulent mining schemes In an exhaustive report on the subject which will be presented at the present pr sent mining congress the committee makes males five recommendations Recommendations of Committee First Concerning a proposed legisla legislative legislative i tive enactment to compel the organizers directors or promoters of corporations corporation founded upon indefinite Ind or prospective property pro erty values to Justify the Issuance pf Q full paid stock for such property by dUng a complete schedule of facts ron eon concerning the same with the secretary of state Second Concerning a n campaign campal of ot ed education education in behalf of probable mining stock buyers through the media of the city and country press this campaign to tobe tobe tobe be c in the name of the tite Amer Arner American AmerIcan ican lean Mining congress ss Third Concerning a proposal to se so secure secure cure the te cumulative voting privilege for minority stockholders In all states where herp this privilege has not pt already been se secured s cured by statute Fourth Concerning a sot set of rt resolutions respectfully urging upon the secre secretaries of ot state and attorneys general of the various mining states and AmI territories the importance of seeing to the enforce enforcement enforcement enforcement ment of all local requirements affecting foreign corporations that Is corporations organized under the laws of other states or territories Fifth Concerning the proposed establishment of a standing committee of or five the majority of whom shall be practical attorneys for the purpose of Initiating or considering proper changes in or ad additions additions additions to the corporation laws of our In so far as they affect Or may ma mabe be made to affect the interests of stock Investors The law recommended ed by b the commit committee tee contemplates tes the filing of a certification lea leation tion of Information concerning the prop property property property erty and condition of the company which is being Incorporated and the filing of an annual report with tim the secretary of state and provides that In the event of the failure of officers or directors of any company to comply with this law they be ve deemed guilty of a misdemeanor and fined tined not to exceed ed S or imprisoned for a term terra not exceeding three months The committee urges that all state leg and the United States congress pass this or a similar act It was also suggested suggest d by the committee that the National nal Mining congress conIes urge upon Investors the necessity of investigating Investigating investigating gating companies before they speculate In mining property The following was suggested by the committee as an ex example example example ample of the th warning to be given out oui to the public Advice to Mining Investors beThe The American mining congress num bering among Its members thousands of the representative mining men of the west est at its Denver meeting in 1906 and its meeting at Joplin Mo ilo In November committed Itself to a policy polle of suppressing fraudulent mining promotions In pursuance of that policy poll C It ap appointed appOinted appointed pointed a t fraud Investigating committee Which has Issued to the tho press of ot the country the following Information In Intended Intended tended ten ed as a II safeguard to the mining in investor investor vestor In the tho Interests of those thos who wish to invest not speculate In mining stocks the committee e urges that each prospective Investor arm himself with Information in answer to the questions below Let there be no evasion of the pro promoter moter accept from him no glittering gen generalities generalIties generalities but Insist on clear concise ac ae CUlat The honest promoter who has a n businesslike proposition to present to business men is unafraid of shocking their intelligence by explaining the business chances which his enterprise entails The Tiie Separator Promoter however r that is one whose chief Interest Is In dishonestly separating cash from the in investor inVestor vestor rather than in separating metal from the ground is either afraid to re reveal reveal reveal veal the thousand to one chances against his gamble or reluctant to disclose his method of pocketing the lions share in incase Inease ease case of success Presuming that the prospective in investor Investor investor vestor Is anxious to acquire definite in information Information information formation regarding a mining company and arid Its property the committee co e urges urge that as a preliminary step he secure pre precise cise from the promoter In an answer sW r to the following questions Inas inns Inasmuch Inasmuch much as the misuse of the malls mails Is a felony be sure to preserve all replies to together together together gether with the stamped envelopes con containing containing taming them Some Pertinent nt Questions 1 I Company organization when and antI where Incorporated 2 Capital stock how issued and ap apportioned apportioned apportioned portioned 3 What Vh t steps eps have been or will wilt be betaken betaken betaken taken to raise funds for the development or equipment of the property prop rt 4 Is any an of the stock pooled 5 How was the property acquired by this company 6 Are A there any an debts against the company compan 1 7 Are there th re any incumbrances against the property 8 S Location of the property and total acreage Nature of titles 9 Nature and extent of developments and equipment and how much has been beau expended In this work 10 How much treasury stock has been sold and at what price 11 How much cash is In the treasury 12 Has the property ever produced and if so 50 how much has it produced under the present ownership 13 12 Has Ha the property pro pert ever been exam examined examined ined med by a competent and honest mining engineer en Give his name and address and send copy of his report 14 It Is the property working at the present time If so how many man men does It tt employ exclusive of stock solicitors 15 This Has a comprehensive financial re report report report port of the operations to date been Is Issued Issued issued sued If It so 50 send a copy cop If It not count the writer Titer out These questions qu are modeled after a afew afew afew few of the most important contained In Ina Ina ina a blank form issued by the American mining congress James F sec see secretary secretary Denver Colo Cob This blank will be mailed to any address upon application Some Methods of Fakers It qt will be noted that question No 13 IZ calls for the name and address addres of the en engineer engineer engineer who has examined d and reported upon u on the property in question To those Innocent of the fact that scores of para parasites parasites parasites sites upon the legitimate te mining industry masquerade under the title of professor or doctor or have appropriated 1 the degrees of df E M 1 or M E B a word of advice may m not come amiss Investigate the standing of this engi engineer engineer engineer neer by writing some Bome one In a position to know and whose integrity is beyond question If It you OU are ar not a good judge of If these things exhibit his report r port to some someone someone someone one who Is Below Is given glen a It list of the various adous state whose duties concern the th mining Industry E Arizona William P Blake state geo geologist geologist geologist logist Tuscon California Lewis E AubuT Aubury state mineralogist San Francisco Colorado T J Dalzell Dalzeil commissioner of mines Denver Idaho Robert N Bell state Inspector of ot mines Boise Kansas Erasmus Haworth state geo geologist geologist geologist logist Lawrence Michigan Alfred C Lane state geo geologist geologist logist Lansing I North Carolina Joseph Hyde Pratt state geologist Chapel Hill Hili Missouri MissouriE E R It Buckley state geo geologist ge logist Rolla South Dakota DakotaS E C state slate geologist g t Vermilion Washington Henry Landes state geo geologist geologist logist Seattle Wisconsin E A BIrge state I geologist 1 st Madison Wyoming V II C Beeler state geologist geo 1 og I 5 t Cheyenne In some of these state the reg regulations regulations regulations require the receipt of 1 accompanying all Inquiries to guarantee an answer answer answer In all aU of them such a q It small fee Is only a proper pro er recompense for a conscientious reply re l to Inquiries A quick method of getting In touch with a reputable familiar with the region in which the mining property is located I l is that of corresponding direct with the th editors of the reputable tech technical technical technical mining press Avoid what arc ar known as promotion organs f These suggestions to the public are made by b a special committee e of the tl th e Amer American American Amerlean ican lean mining congress of Hon Honorable Honorable Honorable Albert W V Everett Wash Washington WashIngton Washington ington former governor of Colorado Hon Honorable on C Beeler state geologist Che Cheyenne enne Wyoming Judge William F I Clark Clerk Glover Vermont Vermont R B L HerrIck i associate editor of Mines and Minerals Scranton Pennsylvania and Charles J Downey Doncy managing editor of The Dally Daily Mining Record Denver Colorado ColoradoS I S 0 |
