OCR Text |
Show A NEW MINING BILL. The Action of the Exchange. The proposition to have a bill passed by the next Legislature, which will compel all mining companies to issue a statement periodically stating stat-ing the financial and physical condition of their properties, should pass without a struggle, and everyone interested in the mining industry of the State should bring all possible influflence to bear to make it a law. If such a bill had been passed years ago, many an investor in some of "the rotten ones" that have been regularly listed and dealt in would bo better off. A property that cannot stand publicity should not be worth much to the investorand it would be a difficult matter to bubble a property if people knew what it was. Another thing of interest to investors is the action of the governing board of the Salt Lake exchange declaring that all companies not listing before November 1st will have to find some other place to trade in their respective stocks. That is, they can no longer be traded in on the open board. The rule itself is right. The exchange is one of the city's institutions which must be supported, and which is not supported by the dues of its members. The payment of the listing fee by newly-incorporated companies should be a small matter, mat-ter, and the exchange is there for them as well as the daily trader. Companies owe it to their stockholders stock-holders to be listed on the exchange, but few companies com-panies answer the demands of shareholders, and it is a question whether their influence would have any effect on companies. At the same time, such a rule cutting off trading on a man's stock, and giving him no market, might work a hardship. "We will see what the unlisted companies do, and then discuss the subject further. |