Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-01-20
Addresses a Letter to Board OF
Salt Lake Stock & Min
ing Exchange.
ON TINTIC SILVER CROWN.
Recent Sensational Raid Brings Quick
Response from Secretary Of
The Mining Company.

Do letter addressed 90 the meme
beers of the governing board Of the
Salt Lake stock and Mining Exchange
this morning secretary and treasurer
M L. snow OF the Tntic Silver Crown
Mining company demands an investt-
CATION Of the methods by which the
price Of that listed stock was knock
cd down from 95 cents on the re-
gular board 60 less than a cent
share on the open board. In the let
ter Mr Snow says in part:
"The newspapers can for an in
NcstlgatiOu. This we court. in tacL
demand OF your board an explanation
and the discipliniug of the broker or
brokers. who we understand are
members iu good standing in your
association. who on the morning OF
Jan. u.s. 1909. deliberately planned
and executed a bold and successful
attempt 10 injure one Of your listed
properties Tiutic Silver Crown.
Following his purchase of the 1000
shares. this broker, and his equally
guilty aids working hand iu hand.
using the good name of tho exchange
as tool. made pretended sales OF
silver Crown stock among them
selves running the price down TO
quarter Of cent share--simply 10
discredit the stock Not content with
this. they had the fact published 20
the world that Silver Crown fell to
fraction OF a cent. We demand OF
your honorable body an investigation
of these alleged sales; were they or
were they not genuine During that
play there were bids out for the
stock for over 30 cents. and one N
cents followed Immediately. Their
publication. or causing the publication
of attached articles iu newspapers
OF wide circulation. you viii readily
admit has hurt our company immea-
sureabN, and il may cause the cancel
latiou OF pending deal In which the
sum of $50, 600 is involved. In that
case. the guilty party or parties shall
be held strictly accountable"
DEAL ON THE taps.
The letter further sets up that the
company owns % claims and ore as
saying from S17 90 $50 a ton has been
found on ten OF the claims. It is con-
tended that n the deal which the COM
pany now contemplatcs viii go through
the property will be shipping ore 10 the
knight smelter in 90 days.
Mt Snow In his statement further de-
clares that some time ago George w.
Holmberg. came TO the secretary OF the
company and advised that he had sold
900 shares OF Silver Crown under the
impression that the pool was broken
and that he could cover with his pooled
stock. The time for delivery had ar
rived. He had sold short at ~ and 1874
cents. The matter was taken up with
the board of directors and the secre-
tary was authorized TO sell 1000 shares
of the stock at rs cents This deal
was never completed.
Ii Is also stated that a meeting will
bc held on Feb. 8. raising the par value
Of the shares of stock from 10 cents 20
81 e. share, which IL ~ said viii insure
the deal whereby eastern people viii
take over the entire treasury stock.
The letter closes with but we are
sure your honorable body will see 20 II
that justice Is done us, and that the
injury porpetrated be righted so far
az it lies iu your power"
MI Snow also states that the COM
pauy was solicited by members OF the
salt Lake exchange 10 list on the ex-
change that the listing fee was paid
and tine company was accepted as "a
mefft OriDus DrOnortV