Show IN A NAME we have known of several instances where a name has been the stumbling block over which mining companies have stumbled to their sorrow we do not refer to the title given these corporations but to the names of prominent and influential citizens whose connection with these companies is announced at the first with great gusto the impression sought to be conveyed being that the personnel of these gentlemen gave strength to the organizations with which they are identified and that therefore such enterprises are sure to prove successful sf ul in many cases this is true but only ahrn these prominent influential and wealthy gentlemen take a deep interest in the proposition and when they do all in their power to push it along contributing of their means when necessary and exerting their influence whenever and wherever possible on the other hand experience has shown such weighty names often drag the companies so encumbered to the very door of failure and bankruptcy the reason for this being that with the enterprises with which they are connected they are but little more than dummies having accepted positions on directorates direct orates and in iii the official roster of mining comp annies merely because they were vere given a block of stock to do so governor Oo Vernor blank is made president of a mining company upon the promise of receiving a block of stock in the company when it shall have become incorporated senator doe is named as vice president for the same reason the sand bank of congo will act as treasurer for a like consideration the balance of the directorate is made up of judge roe an eminent jurist hon john loo member of the city council and hon george handshake a member of the state legislature all of whom receive a block of stock for the use of their names as company officials the promoter who really has a promising property is elated and shakes hands with himself over the swell aggregation he has corralled to give tone to his enterprise in his mind he has already achieved success the good news is heralded to the world in flaming circulars and in a prospectus that fairly overflows with enthusiasm and promises then the sends a force out to the mine purchases necessary machinery and mine equipment after which he devotes his time to the sale of treasury stock which of course will go like hot cakes because of the names included in the directorate of his company but as often occurs the local market is glutted with mining shares of this character and the names of influential men do not seem to draw as they should A little later the companas comp anys treasury fund is exhausted and it seems difficult to replenish it the men at work at the mine begin to demand their wages they are given promises and in good faith for are there not several 11 wealthy men on the board they will not see the enterprise stalled for lack of a little money why some of them are millionaires governor blank is seen seen but he seemingly takes but little interest 1 in n the matter and then his holdings are so small besides he has sold a portion of his shares in direct competition with the effort to dispose of the treasury stock of the company senator doe is then appealed to but he has so many weighty things to attend to that he cannot assist the company besides he has never seen the property and only consented to act as vice president as a matter of accommodation not that he cared for or ever had any confidence in the ultimate success of the project hon john loo and hon george handshake wish they had never heard of the company and the sand bank of congo turns a cold shoulder to the supplicant and intimates that if given a controlling interest in the company it will try and take care of the small amount owing but that further than this it cannot promise the promoter by this time is in a hard row of stumps he is harassed on every hand he knows that he has the making of a big and paying property with development but he gets no sympathy nor support either moral or financial from the officers of the company who are so high and mighty that the ignominy and disgrace of failure does not fease them in the least and the honest dema demand nd and urgent necessity of the employees of the company do not even ruffle a feather of their dignity or sense sens e of honor f if they have any which is doubtful then matters gefrom go from bad to worse suits are filed against the property of the company attachments are issued and later on because the property of the company is not patented the claims are relocated located re after the first of the year and the company liko like a ship without a rudder has an existence in name only without a foot of ground that it can call its own and all because bebau se the 1 strength and personnel of the company was expected to bring money into its treasury and uphold the hands of the manager how much better would it have been for the promoter to have associated with him men who were interested in mining who understand the various phases of the industry men who lacking in political and financial prominence would be quick to see the needs of the company and who would be willing to step into the breach with their money and with their sympathetic aid men who would put up a hundred or so when necessary and who would be as active in guarding the rights and interests of the innocent shareholder as they would be to defend their own honori honor an entirely different brand of honor from that supposed to be possessed by governor blank and his bis associates socia tes lacking high sounding titles the men of manhood above described would never tire never never give up and would never become discouraged cou raged cr until the mine was developed and equipped until it had reached a dividend paying basis and when this desirable end is accomplished it would make no difference with the shareholder if the president of the company was only plain mike jones whether the vice president was a modest merchant or whether the directorate was composed of everyday every day business men and miners it is enough that they acted fairly and honestly with the company and helped in every way to make a dividend payer out of its property in a name anyhow idiots fools and rascals may have titles but this fact would be far from guaranteeing success to any enterprise with which they might become connected |