Show assessment SALES it may seem like a waste of time to suggest protection for the public investors and speculators alike in the matter of sales of delinquent mining stock because the average state legislature only makes a mess of things when it attempts to improve existing laws possibly it is better to endure the ills we have than to rock the boat and risk the infliction of blue sky laws which would effectually throttle mining and on account of an apparent tendency in utah to accomplish exactly that there is a natural hesitancy about registering a kick however there should be some change for the better made in the way many sales of delinquent stocks are conducted in too many cases professional brokers are allowed to do all the bidding which practice means that the stock brings just the amount of the assessment plus the advertising cost and the real owner gets nothing this is according to a prearranged understanding by which one representative bids in the stock and then later divides with his fellow conspirators and it is not beyond the realms of possibility lity that some officers and directors of the companies involved occasionally enter into the agreement and do their bit toward mulcting mulching ting the shareholders in fact we have known cases where the directors have shut out even the brokers though this is not attempted often with the more promising stocks because the broker has the ability to make a particularly loud squeal if his foot is stepped on and again we know of at least a few cases where delinquent sales have been postponed at the last minute because of the unexpected presence of an un bidden bidder or witness perhaps more publicity for the property the publication of the notice in a daily pa per of proven circulation and the compulsory mailing of notices to all shareholders would improve conditions however a body of lawmakers law makers which can formulate and put through such a statute as the mining tax amendment now facing utah should not have any trouble with tills this small problem pro bleill the investor in the stock has backed his faith or the faith of a friend in the mine or prospect often he has bought against his better judgment through the importunities of an officer or director perhaps he has paid several assessments in the past and he deserves to get back whatever proportion of his money is possible when forced to sell |