Show ALLIS CHALMERS FAILURE DENIED after the last issue of the mining review had gone to press eastern dispatches were received in salt lake stating that the allis aliis chalmers company of milwaukee had gone into the hands of a receiver since then it is learned that the report was erroneous and that it had no foundation in fact owing to the tie up in telegraphic service for the past two weeks it has been d difficult iff cut L to get at the real facts in the case but local manager F E marcey has received a letter from president W H whitesides Whiteside 3 that the report was groundless and probably started by some disgruntled competitor president whitesides also stated that the company never before was in such a prosperous condition the letter says A rumor that was sta started arted on the chicago stock exchange this morning evidently for stock jobbing purposes has been given general circulation with the aid of 0 our competitors to the effect that application was made for the appointment of a receiver for allis aliis chalmers company we immediately denied this report in the most emphatic terms by the following L statement to the press which is self esplan atory there is no foundation whatever for the rumor that a receivership has been asked for this company the company was never in a more prosperous condition we have orders on our books at the present time aggregating gre gating which assure a full years work ahead of us for all manufacturing departments these orders have been taken at exceptionally good prices and tha th company is showing substantial earnings the companas comp anys assets are in an amount equal to nearly two and one half times its liabilities we take this means of further emphasizing its untruth and to fortify you in case reference to the subject is made by prospective purchasers or competitors agents it I 1 is clear that the attack was an endeavor to secure commercial advantage over us by discrediting our financial and commercial position 11 |