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Show I be STUDY IP ON NEVADA LAWS New legislation Overturns Former For-mer Free and Easy Operations Opera-tions in Sagebrush State. TWO REPORTS MUST RE MADE EACH YEAR Everything Touching on Com- paiiy and Property Must Be Clearly Set Out. I So it Lake mining men with interests iu the Stnte of Nevada nave been receiving re-ceiving copies of the Kendal hill, recently re-cently passed by the legislature of Nevada, Ne-vada, and which went into effect last March 5 This law revolutionizes the f r.'instt'ctibn of mining conipauy affairs in the -Sagebrush stale, and too great publicity- cannot bo given this law, as the penalties for a violation thereof aro severe, whilo the state means business. The law means to give a. great safeguard safe-guard for stock-holders of Nevada organizations, as its fulfillment will give tho state officials all the data necessary to be known twice a year." Hereafter ir. should not be a very difficult, matter to find out anything desired about a Nevada Ne-vada company. Kvoiy corporation owning, claiming, holding, leasing or engaged in the business of working or developing any claim or group of claims located in the state of Nevada is affected by this law. .Reports must bo filed with the county recorder of the county iu which the property is located, and with the attorney-general, in .Juno and November of each year. This report must give tho name of each claim, whether patented or unpatented, the, number uuder development, how much is being spent, on the same for anything and everything, the exact location ot tho r property, the nature of tho litlc. the date of purchase- of same, character and value of buildings, works, machinery anfl improvements generally, total number num-ber of men einplo.yed, number of daya the)- were employed, total number of shares tho company is authorized to issue and has issued, the number of shares of treasury stock unsold and sold, and what the latter brought; jier share, amount of money paid for salaries, etc., and last, but not. least, the amouut of bullion tax paid during tho past six months. The Jaw divides stock into two classes, treasury aud promotion. All certificates of treasury stock sold after April 15, 1909, must bo stamped in big letters in a conspicuous place, "Treasury "Treas-ury Stock." and all other stock must be stamped, "Promotion Stock." All statements must be sworn to by designated desig-nated officers, thus opening the way for prosecutions for perjury in case false reports are made, while officers whoso duty it is to make these reports are liable to a stiff fine for failure to do so; also the company is liable to a still stiffer line. There are other features of the law not touched on here which make it imperative im-perative that all companies of that state, or owning properties in that state, and which have already sold or will sell in the future any portion of their capitalization, study the law carcfullv. Tho law will not bo a popular one, but there is one thing sure, it will relieve western banks and newspapers from tho trouble of hunting down information in answer to iuquines, which" information at present is absolutely impossible in the majority of cases to be secured. |