From the Richmond Times-Dispatch, 10/23/1915, p. 10, c. 4

PAYNE DENIES SALE OF TREDEGAR WORKS
Has Not Offered Plant to Schwab, United States Steel or American Locomotive Company.

No deal has been closed for the sale of the Tredegar Iron Works, on which an option has been taken, presumably for sale to Northern capitalists. There have been many reports regarding the prospective purchasers, the United States Steel Corporation, the American Locomotive Works and the Bethlehem Steel Company, controlled by Charles M. Schwab, being included.

W. J. Payne, who is currently reported to be one of the men holding the option, wired the Times-Dispatch last night from New York as follows:

“The statements in Richmond afternoon papers to the effect that I had offered Tredegar plant to United States Steel Corporation, Bethlehem Steel Company and American Locomotive Company are wholly untrue. There is not the slightest basis for such statements, in whole or in part.”

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