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Show UTAH POWER FILES PROTEST Dismissal of Complaint Brought By Manufacturers Manufac-turers Requested SALT DANE. Jan. 2 1. Contending I that lower rate a would seriously im- j puh the company' credit and destroy confidence of tho Investment world in the property, the Utah Power and bight company filed a brief with the public utilities commission today requesting re-questing dlfmlsy.il of tho protest and complaint by tho rtah Manufacturers' tuwoclation and Others. Tho tirlef Was filed in complianct with a request of the fate iard that ioth aides in the rate controversy submit statements. H is also contended In tho briof thut the Interest of some HO powor users. Including county boards of com-mlnMlonorfl, com-mlnMlonorfl, city commissions. newspapers news-papers and others, wtio jolnod the manufacturer' body " 'be rase l nol apparent An early return to normal volume of busings and Increased earnings la tho only solution which will mi0 the problem, tie- company contends, of meeting financial obligations obli-gations for necessary development. With obligations aggregating $r,-000,000 $r,-000,000 maturing on August 1 1932, the company Is faced by a financial stringent . it I declan d in the brief. Under present conditions, it is contended, con-tended, the company can barely maintain main-tain itself unci discharge Its obligations obliga-tions rind that If the sinking fund Is Included In fixed charges Its present revenues reflect an actual sbortiige of 1536,000. In bummng up its iaso as presented In the statement, tho brief concludes: 'The Utah Power & Lisht company has maintained its solvency and Ikls fulfilled Its financial obligations continuously con-tinuously from the time of it organ-zaton. organ-zaton. it expects to bo able to do no. It will continue to do so If It receives, re-ceives, as it confidently expocts, fair treatment ( trie hands of tho regulatory regu-latory body. But we repeat again, that with upwards of $5,000,000 of fl-imnclnl fl-imnclnl obligations maturing within lb ncXl Six months, with Its bonding limit exhausted, and confronted with tho pci e-isity of reilnanctnt? on Junior securities, wo submit that a general rate reduction as proposed by the plaintiffs would not only demonstrate as ft simple problem in mathematics that the company could not meet its financial obngnions. but would destroy tho contldence of the Investment world in the company's property and Investments Invest-ments " |