Salt Lake Tribune | 1917-03-18 | Page 41 | Officially Denies Current Reports

OFFICIALLY DENIES CURRENT REPORTS Head of Tintic Standard Makes Statement State-ment Regarding Alleged Stock Deal. Captain E. J. Raddatz. president and general manager of the Tintic Standard Mining company, one of the best known mines of the Tintic. district, the stock of which has been much depressed during dur-ing the last ten days, made specific request re-quest yesterday that the persistent rumor ru-mor that officers of the company were selling their stock be denied. Captain Raddatz said that instead of selling the big holders of the stock were buying, and that he made the official statement only because he was wearv of the "knocking" that has been lately apparent. He believes that the depression is largely due to unloading by shareholders who bought the stock when it was only a fifth of its present .value. He said that the new three-compartment shaft was already down 600 odd fjpt, that progress was being made atT rate of five feet per day, that newly-installed hoist was working in 'good shape and that no one had any reason to feel that the Tintic Standard had lost any of its prestige, the ore re- "V"ncs being larger with each week of Vcjelopraent.