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Show REPORT OF TINTIC STANDARD COMPANY E. J. Raddltz. president of the Tlntlc Standard Mining company, has submitted sub-mitted a report to stockholders in which notification s given of a second sec-ond assessment, and the reasons why such action was necessary are' set forth altfo. The report follows: "Since our last statement and notice of assesBmont No 1 In January, 1910, conditions in the money and stock market did not Improye sufficiently to enable us to fully cover the expenses ex-penses of our development work from the sales of treasury stock, hence the directors of this company are compelled com-pelled to ask each stockholder to contribute to Its working fund at this time as per enclosed notlca of assessment assess-ment No. 2. "We owe the followiug bills, now duo: Borrowed money .. S.916.33 Current expenses to July 1, 1910 2,776.23 Total . $ll,692.r.S "Our property, consisting of ten lode claims, is now fully paid for. Seventy thousand shares of stock are still In our treasury. Developments to date consist og 3003 feet of drifts and 1367 feet of shafts and winzes. Our property is equipped with all necessary nec-essary buildings, a steam hoisting plant capable of working to a depth of 1500 feet, also air compressor, pow er fan, and all other modern mining appliances. "Our main shaft is now 885 feet deep, an dour present plan of development develop-ment consists of sinking this shaft with two shifts of miners and power drills to the . 1000-foot level, from which point crosscuts will be run to intersect and open up the known ore-bearing fissures, after which, we feel confident, the property will be on a producing and paying basis." |