THE SUMPTER MINER Wednesday, August ;i, 1904 THE PROXIES OF STOCKHOLDERS TIih investor of today Ih taking keen inturuHt ih to tint rights or tni uorlty stockholders, says the WmII Htient Journal. My minority stock holders Ih mount practically nil stockholders. Ah ii mutter of fact, corporation are UHiiiilly controlled by those porsotiH who own thu largest, minority intiirMHt. Home tiuiHH they urn controlled hy persons having tint smallest possible owner ship in thorn. JiihImucch have not been rare of control by men wbo have Mutually Hold nil their stock, but who urn Htill able to control and per petuate thuir control through various expedients. Thus tho directors In control are iiniially able to secure ruuluotlou by obtaining proxies for a majority of the Htock, though they may own vnry lltUo Htock UiuiiisuIvoh. Moreover these proxies may not always represent bona lido stockholders. Tbey may rnpreHont merely tempomry holders of the Htock, Hiich mh spcoiiliiloi-H, or brokcrH uoLing for HpeciilatorH. J'ho real investors in the Htock may be numerically In t majority, but practically in a minority. TIiiih in a Jitrt) hciihc the rights of minority stockholders IncludeH the rights of all stockholders and of investors iih a cImsh. We print clHcwhcrc a letter from one of our HiibHcrlberH, asking uh to use our influence to abate "the evil of sending proxies, foi thu asking, to intiti who probably have been using their official poHitioiiH for the tic i'uniiilNtlou of 'graft', and not for the benefit of HhareholderH. " ThiH 1h an evil for which the share holderH are thcuiHclvuH in largo part responsible, There would be less (corporate mismanagement and cor niption if more stockholders would attend annual meetings and iiiHiHt UPOI) HHklllK UCHtlotlH HO IIH tl) 1)11 able intclllKently to vote. Ah u rule corporation meetings are much better attended In Kngland than lu thin country. Hera the UHe of proxies him tHHmnitt no abuse. Am thu citizen in different to hlH rinhtH of auffrMge Ih responsible by bin I udl (Terence, for tba liiotlon of bad men to ottloe, no the negligent stockholder It largely reMpotislble If bad men find It easy to obtalu and maintain control of cor porMtloiiH. Whether It would be poasibla to frame a fair law to pre vent temporary holderH of stocks from mIvIuk or Helling proxies may tic opeu tu dlHpute, but there can be no question that If legitimate investors iu HtockH would exurclMu a larger vigilance and zeal they might be able greatly to diminish the ovIIh of cor porNte management. Mot in order to be able to oxeroiHe thiH vigilance, several things are neccMSMry which could be provided by law. The Unit and iiiont cHHuntlal ot these Ih publicity. No ntouk holder can vote Intelligently for IiIh own interests who Iimh no means of iihoerUlulug the condition of tlw company of which he la one of the owners. The Wall Street Journal Ih be coming more and more convinced that the soultlon of all these quoa tiouH lies in the dliection of uatioual corporation law. Am Jaines B. 0111 ban Maid: "IVi can look for no effective publicity, no etfecive restrictions, or nsgulatiou of corpurMte power under a system of diverse state legis lation." We believe that a national incor poration law could be framed on the lines of the national banking act, which provides for reaHnuable pub licity und an excellent HyHtem of federal examinatioriH and regulations Such a national incorporation act, we think, might include a chuho pro viding for a minority repreHeutiou in boardu of directors Thifl might be scoured thiough hoiiio ayHtem of cumulative voting. Thu minority HtockholderH who would take thu trouble to get together and organize, could secure representation in thu direction and seo that their rightH were fully HiiHtained. Of course, if they didn't organize, they could not complain if things went wrong. An indifferent minority always mukeH a bad majority. Corrupt j directors make inefficient and dishonest ofllcialH. DJHbquost ofliaials mean fraud for investors and consumers It Iimh been Mild that "an houoHt man Ih the unblcHt work or Cod." It may iiIho be Hiiid that un houeut cor poration is thu noblcBt work of man, for nothing can more Hiirely and quickly advance prouperity and in creiiHu wealth. Hut a dishonest cor potation is a worner of Iniquity, a breeder of wrong. It Ih undontood that Charles Unlit, of Maker City, will cHtahliHh an ant-ay ofllce huru iu a Hhurt time. Mr. Raht wiih formerly iu thiH line of biiHiiHHH here, but left to engage in mining in Mexico. He will prob ably move back at once If a Hiiitablu building can bo secured. SPECIAL NOTICE If you want to read a freu and inde pendent paper, devoted to the inter cHt of mining and current ovuntH, which Ih not controlled by any pro moting concern, hucIi mh moHtof the pacrs iu the cant are, Hcnd for a free Hamplu copy of NEW YORK BANKER 23 BROADWAY, NEW YORK NO'liCB OF FORFEITURE. flumpter, Baker comity, Oregon, 'July 21, 1904. fo A. P. Jones and John T. English: You Mild each of you are hereby notified tbMt 1 have expended during thu yeMra 1900, 1901, 1002, and 1903, the Hum of Eight Hundred DolUra In labor and improvements upou the Astoria Mild Hond quMrtz milling cImIiuu, ultuatu iu what la commonly known mh the Cracker Cieek (unorganized 1 mining district lu the county of Maker, state of Ore gon, and being altuated on Little Cracker Creek, adjoining the Sainpnon mine and about two and one-half miles northerly from the town of Mourue In Maker county, Oregon, in order to hold said claims under the provisions of Section 2M24 of the Revised Statutes of thu United States, and amendments thereto con cerning annual labor upon mlnlug claim being thu amount required to hold fa id claims for thu years ending respectively December Hist, 1900, December .'list, 1901, Decem ber Mist. 1902, Mild December .'list, 1903. A lit' you, A. l Jones are hereby notified that if withiu ninety days from persoual servloe of this notice upou you, or withiu uluety days from the publication thereof, you fall to contribute your proportionate share of nuch expenditure as a co owner, which amountB to one hundred dollaru, or twenty-five dollars for each of the years 1900, 1901, 1902, and 1903 from annual labor upon the said Astoria mining claim, your interest In said claim, which is a 'one fourth interest, will become the property of thoJJTundersigned, E. E. liauser, your co owner, who has ex pended on said Astoria claim for each of the years 1900, 1901,1902 and 1903, the Hum of one hundred dollars or a total of four huudred dollars. And you, John T. English, are hereby notified that if within ninety dayH from pereouol service of this notice upon you, or within ninety dayH from the publication thereof, you fail to contribute your propor tionate n!mre of such expenditure of j four huudred dollars on said Astoria ! claim, mh a co-owner, which amounts to one hundred dollara, or twenty five dollars for' each ' of the 'years "1900, 1901, 1902, and lOO.'i, for annual labor on said Astoriu claim, I your interoHt in naid claim, which amounts to a ouo-fourth interest, will hocomo the property of your co owner, the undersigned, E. E. Ilauser, who has made said expendi ture of four huudred dollars on said Astoria claim, or onu hundred dollars for each of thu years 1900, 1901, 1902, and 1903. And you, John T. English are hereby further notified that if, within ninety dayH from personal .service of this notice upon you. or within ninety days from the publication thereof, you fail to contribute your proportionate share of the sum of four hundred dollars expended by the said E. E. HauHcr on said Monti claim, or onu hundred dollars for each of thu yearn 19.H), 1901,1902, and 1903, your intorest in said Mond claim, which amounts to a one half interest, and which propor tionate amount of said expenditure of four huiiured dollars amounts to two huudred dollars, will become tho property of your uo-owuur thu said E. E. ilauser, who has made'' said expenditure of four hundred dollars ou aald Mond claim or one hundred dollars for each of the years 1900, 1901, 1902 and 1903, all by the terms of said statutes. First publication July 27. 1904. Final publication October 20, 1904. E. E. HAUSER. NOTICE OF FORFEITURE. Sumpter, Baker County, Ore., July 29, 1904. To Otto Uuzloker, Menuo Un zicker, J. R. Burns. R. L. Coleman, R. S. Catos, Allieue Case, John Arthur and J. F. Crlsman: You and each of you are hereby notified that 1 havo expended during tho year i903, thu sum of one hundred dollarH iu labor and im provements on each of thu following described quartz mining claims situated in the Cable Covu mining district, iu Craut aud Maker coun ties, to-wit:-The Rob Roy, the Sunset, aud tho Snov Shoe, situated in (irant county, Oregon, and the Black Dwarf and Midnight .situated in Baker county, Oregon, the locatiou notice of said Rob Roy quartz milling claim being recorded at page 183 of Volume J of the public records of mining claim 1 locatiou notices of said (irant Innnntn tl.u Bllliumf n I u i til llWIullllll notice being recorded at page 183 of said volume O of said records, and tho Snow Shoe claim location uotice beiug recorded at page 184 of vol- ume(J of said records; the locatiou notice of said Black Dwnrf claim being recorded at page 189 of vol ume Jfof the public records of quartz mining claim locatiou notices of said Maker county, Oregon, and the location notice of said Midnight claim being recorded at page 191 of said volume J of said records of Maker county. And you. the above named Otto Un-dcker. .Mi uno Uuzlcker, J. R. Mums, R. L. (V'eman, R. S. Cates, Alliono Case, J u Arthur and J. F. Crismtiu, are heioby notified that if within90 days from the date of the personal service of this notice upou you, or within ninety dayB from the publication thereof, you fail to contribute your proportionate share of such expenditure, which amounts to Bixty-six and two-thirds dollars for each of the following named claims, to-wit: the Sunset, the Snow Shoe, the Black Dwarf and the Midnight, and the sum of seventy sevon and seven-ninths dollars for said Rob Boy claim, your interest iu mid Sunset, Snow Shoe, Black Dwarf and Midnight claims, which amounts to a two-thirds interest in each of said claims, and your intorest in said Rob Roy claim, which nmouutH to a seven -ninths interest, will became tho property of your co-owner, Robert O. Doming, who has made the expenditure of one hundred dollars on each of the above named five claims, during the year 1903, for the puipose of holding said claims for tho year ending Decombor 31, 1903, iu accordance with section 2321 of ho Rovised Statutes of thu United States. R. O. DEM1NO. Firstjniblicatiou August 3, 1901. Last publication November 2, 1901. NOTICE FOR PUBLICATION. (Isolated Tract.) ITBI.IC LAND SALE. U. S. l.anJ Office. ) La Grande. Ore. NOTICE IS HERKUY GIVEN. That In pursuance or Instructions from the Commissioner of the Gen eral Lit n J Office, um'er authority vested In him by Section 3451 U S. Revised Statutes, as amended by the act or Congress approved February 6, 1895. we wilt proceed to olfer at puDllc sale, at ten o'clock a. m. on the 37th day of September, 1004, at this oftice, the following tract of land, to-wit: NW K NE Sec. 34. T. 10 S Range it E. W, M. Any and all persons claiming adversely the above described land are requested to hie their claims In this oftice on or before the day above designated for the commencement of said sale: otherwise, their rights will be forfeited. Uated August 11, 1004. E. W. DAVIS. Register. A. A. ROBERTS. Receiver. riMIEft UNO, ACT JUNE 9. IITf.-NOTICE f0 PUIUCaTIM, United Stales Land office, ( La Grande, Oregon, June g, 1904. j Notice Is hereby given that In compliance with the provisions of the act ot congress of June ), I87I. en titled "An act for the sale ot timber lands In the states of California, Oregon, Nevada and Washington Ter ritory," as extended to all the Public Land States by by act ot August 4. l8oa, JOHN C. MILLMAN, of Sumpter, county of Haker. state of Oregon, has this day filed In this oftice his sworn statement No. jia4. tor the purchase ot the NM NEtf. NEtfNWtf and lot one (1 ) of Sec. jo. InTp. No. 1 1 S. range No. j8 EWM, and will offer proof to show that the land sought Is more valuable for Its t'mber or stone than tor agricultural purposes, and to estab lish his claim to said land before Charles H. Chance, U S. Commissioner, at hi- office at Sumpter, Oregon.on Wednesday, the ist day ot August, mo4 lie names as witnesses: William A, Green. Ralph Mead, Van Rensselaer Mead, Eric P. Bergman, all of Sumpter, Oregon. Any and all persons claiming adversely the above described lands are requested to tile their claims In this oftice on or before said jistday ot August, 1004, E. W. Davis. Register. DESERT LAND. FINAL PROOF.- NOTICE FOR PUBLICATION. United States Land Office, ( LaGrande, Oregon, June ,u. 1004 i Notice Is hereby given that Joseph Wham, of Unltv, Oregon, 1 as tiled notice of intention to make proof on his desert- land claim No. ao6, for the se! se4 sec, jo, ne ne sec. n, tp. 13 s. r j? e, W. M . beloie the County Clerk of Baker County at Baker City, Oregon, on Wednesday, the 34th day of August. 1004. tie nimes the following witnesses to prove the complete Irrigation and reclamation of said land: Gene Yeaper ot Unity, Ore., Thomas B. Boyer of Hereford, Ore,. Thomas Thompson of Unity, Ore., Alfred Whited ot Unity. Oregon. E. W. Davis, Register.