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Show UTAH FUEL COMPANY TAKING OVER THE AMERICAN FUEL'S PROPERTIES I ! I V OTfldera of the Utnh Fuel company nnd B. F. Bnucr, president of the American Fuel company, are working out In New York the details de-tails of the purchase of the Americnn Fuel company by tho Utah Fuel company, Bays today's Hcrald-Rcpublicnn. Tho purchase prico to be paid for tho properties of the American Fuel company is said to be between $1,2G0,000 nnd $1,600,000. No one in Salt Lake City connected with either of tho two companies com-panies would talk concerning the sale of tho American Fuel company com-pany or give exact figures on the purchase price. Although negotiations nego-tiations for the sale of the coal property were begun in Salt Lake City, tho details are being worked out In the New York offices of tho Utah Fuel company and it is expected by the Interested pnr-ties pnr-ties that the deal will be closed and tho transfer of tho properties made by. October ICth. B. F. Bauer, president of tho company, who is nlBO president of the Salt Lake Hardwnro company, has been in New York the past week working on tho deal. , Lands Arc Located In Grand County. The properties of the American Fuel company are located in Grand county, nt Neslen, reached by tho Ballard and Thompsons railroad, which runs nine miles north from Thompsons. Tho acreage acre-age of coal owned by the company is u little more than eight hundred hun-dred acres. In addition to having a well equipped mine, the company com-pany owns the coal lands, the Ballard and Thompsons railroad and a mercantile establishment nt the mines. The Americnn Fuel company was incorporated with a capital stock of 2,500,000, but tho entire amount of authorized stock has never been issued. The railroad was completed from tho main line of the Denver nnd Rio Grande nbout eighteen months ago and tho company has been shipping conl the past two years. During tho past two months tho mine has been running seven dnys n week and producing nbout seven hundred tons of coal dally. The greater part of its product is shipped to Salt Lake City for Those who have been prominently identified with its development develop-ment nro Gov. William Spry, George T. Odell, It. F. Neslen and B. ' It is understood that negotiations have been pending some time for the Bale of the property to the Utah Fuel company. |