Show T LA LAV V HAS PUBLIC Attorney General Declines to Throw Light Upon Puzzling Puzzling Provision Ono One of ot tho the provisions of or Nevadas Nevada's new wildcat law Jaw Is that t all aU treasury stock Issued by any mining company operating In that state shall bo be designated designated as such b by tho the words Treasury Stock being printed In largo argo letters letterson leters on the faco taco of oJ tho the certificate It I also I provides that all al stock which Is not treasury stock within tho the meaning of oC the tho law lass shall be deemed promotion lck stock and shall bo be so designated 11 In sued printed letters on alt all S SA Is Js- Js A point raised In that connection by ot of officials of ot Nevada companies is as asto asto asto to whether stock once Issued as treasur treasury treasury treas treas- ur ury stock and then transferred from one Individual to another shall continue contin contin- ue to bo be designated treasury stock or whether the tho new thus Is Issued Issued issued Is- Is sued should promotion stock In tho meaning of or the law Jaw In the hope of oC clearing the matter mater Tho The Inter Inter- Mountain Inter Republican addressed addressed odI ad od- dressed dressell to the attorney general generl of ot Neada Nevada Ne Ne- vada ada a Q letter leter of ot Inquiry This Is his I reply At In is Co Coy Dent Dear Sir While Sir While the official opinIons opinIons opinions ions of oC this office are arc reserved for tor certain cor- cor tam tain public nubile officials In reply to your query quer- quer as to whether or no not certificates of ot treasury stock Issued as such and returned for transfer since what Is known as tho the wild wid cat Ct act of 1909 became effective ct this office Is of ot the opinion that under said act all al certificates are required to be stamped or otherwise designated as treasury or promotion stock as the case ma may be Very truly yours R n 11 C. C STODDARD Attorney General With all aU due deference to the attorney attorney ator- ator ney general and his opinion his statement statement statement state state- ment leaves tho the matter mater precisely whore where It I t was as before beCore To the mind untrained In n reading between the lines of ot legal enactments thero Is Js no as Mas tho the ease la nay may bo about It It When stock stock stockis Is Once Issued to a purchaser as treasury treasur stock and b by that purchaser la Is transferred to another the proceeds from Crom the tho second I sale going Into the pocket ot of the tho second sec ond end party and not Into the treasury of the he mining company campan the tho new now certificate certificate Issued Is either cither treasury cert cert- stock or promotion stock In the meaning of or orthe the he law The The Tho law lw by bJ no means makes clear lear which It I Is the point calls cals for tor interpretation The he Intent of oC the law Jaw Is to place a check heck upon the issuing of or treasury treasur stock tock b by a mining company company to to to give the purchaser of or stock the opportunity of knowing whether he Is buying treasur treasury treasury treas treas- ur ury stock or Individual stock whether tho tim mone money he pays for Cor it Is going Into the tho treasury of tho the company to be bo used for tor making Us Its Is property more moro valuable val cal nl or whether it Is going Into the pocket of ot an Individual In many ninny cases ses It i makes maes a radical difference in In Ia the value the the- purchaser would place upon the tho stock And that provision of ot the tho new law was suggested b by the practice tice of ot some officials of ot called so-called sO-Cled sO wild cat or companies of selling stock represented seated to be treasury treasur stock when In reality realty It was the officials officials' Individual holdings Eay En Eato to Detent Defeat I W 1 as s r st i lel one ln l Vidual fer to another is to continue to be stamped stamp d treasury stock wh why shy will 11 It I not afford a a means of ot defeating the tho very vory ery purpose of ot that provision pro of oC the law What hat will wll prevent officials of ot a company selling themselves treasury stock and fooling the public as before And anyway If Ir one ono wants to wildcat what is to prevent his forming a n company with wih all al treasur treasury stock and paying himself In treasury stock for his promotion promotion pro motion moton Interests thus rendering the new act entirely futile In tho the case of some of the larger companies whose stock stoe Is widely seat scat and extensively cut up the task of ot looking up records to determine whether certificates should be bo stamped treasury treasur or promotion when transfers are aro made will become decidedly oner oner- ous When In some such cases it It shall become necessary to raise the transfer fee ree to several dollars a the tho public will begin to take Interest in Nevadas Nevada's new law Another nother objection alread already raised Is th thai the words Promotion Stock I printed In bold letters leters across the tho face Cace of ot a certificate will tend to decrease the value of or stock stoe holdings s for Cor the Impression im mi- prevails that stock has cost the owner less than the prices priceR at which stock Is sold sol to the general public Mining Sote Note Republican Special Specia Service Eureka May laJ 9 Surveyor IL H. W. W Home Horne was out from Salt Lake Lako last las week upon mining business Attorney N. N A. A Robertson of ot Salt Sal Lake Lako was In Eureka the greater part of ot this week after r mInI In in particularly of oT the Iron r Hat lit Mining Mining company compau John Round Roundy of or the Knight properties proper proper- ties was In lingnam Wednesday In Inspecting inspecting In- In ruining mining properly property In which ho Is Interested Eureka Eureka people who own the Oxford group of ot mining claims In the Bingham Bing- Bing ham barn district are aro making preparations to patent tho the claims which number about twenty Fifty IHy men are upon the tho payroll o ot of the tho Grand Central and Victoria which resumed operations last Wednesday The Tho output at present Is about tort forty tons a n day dY that amount being all that tha the Tintic smelter smeller can cun cn handle al at this time at least A station is being cut In the CentennIal Centennial Cen Cen- tennIal Eureka Eurek shaft at t a depth o ot of 2 2260 feet Coet After three throe weeks the time that will wi be to cut tho station tho tue company compan will wi begin drift drift- In lug ing on this now neW level which Is about feet below bolow tho deepest point where I w work k Is now noW being carried curried on In the mi mine re Tho Tue work of ot driving a tunnel to drain tho the shaft shaf at the Baltimore Is well wel under tinder wa way ray This tunnel will wi tap the thc shaft at al a depth of oC over feet feeL Within another month the tho recently organized North Colorado company will wil Install new machinery and commence commence com coin mence monce the tho sinking of ot a double compartment com corn shaft This company Is Js ono of ot the strongest that has been organized organIzed organized organ organ- In this district In recent years It I will wi go after ater the north extension of ot tho Colorado ore vein eln A shipment of or ore oro will wil soon be bo sent from Crom tho tue Bullock Dulock at Silver SI cr City The Theore Theore Theore ore bins at the mine now contain about tons of ot ore and within a a couple of ot weeks th tho amount will wil be bo Increased until there Is sufficient to make malte a carlas car car- las load lod d. d I I. I IL TI Spriggs gs F F. J. J Brinton and William Wilam Wi- Wi Wil Wil- liam lam have hae returned from Crom American Fork canyon where they sited and inspected tho the Miller MillerHill ier Hill group of oC claims with wih tho Intention Intention tion ton o of taking a lease on a block of or ortho tho the ground The Tho gentlemen report that there is 19 still sun lots Jots of ot snow In th the thO canyon canon and that It I will wIl be a few Cew weeks yet vet betor the wagon roads UI uj uI tho the canyon anon will wiil wi be bo In condition for tor haulIng hauling haul- haul lIng Ing ore oro |