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Show STOCK SHOULD BE ASSESSABLE. 4, Another company that feels sorely the lack of a little ready money is the King William, of Tin-tic. Tin-tic. It was making good headway toward ground in which it has more than an even chance of getting get-ting pay ore when it was suddenly compelled to stop. It did not have the cash to meet its pay roll. Straightway the market value of the capital stock slumped fifty thousand dollars. Five thousand thou-sand in the treasury would have prevented this paper loss and a half-cent assessment would have furnished the Ave thousand. But the King William Wil-liam Is one of the companies that clings to the non-assessable form of incorporation. When all v &, of its treasury stock 1b disposed of, it has no way of replenishing its development fund without a loan, a bond issue or a reorganization. Every one of these resorts involves a heavy and unnecessary un-necessary expense. An assessment is the simplest simp-lest and cheapest method yet devised for financing financ-ing a development campaign. Experience like that of the King William are causing non-assesa-able companies constantly to reincorporate with the privilege of assessing. This privilege is often misused by dishonest directors, but the principle on which it is based is a sound one. RAY MAKING MONEY. Returning from the Ray Consolidated and " Chino properties recently, D. C. Jackling, the general manager, furnished facts and figures proving that both of these enterprises are making i good. There can be no better evidence that a company can make money than the money It is making. When Mr. Jackling announces that the N Ray has been making money since July he ij silencoB in a sentence all the labored arguments ' designed to show that the Ray cannot be made ', to pay. The taking over by the American Smelt- I ing & Refining company of the copp"er smelter partially completed by the Ray is verified by Mr. Jackling. |