OCR Text |
Show Power & Light Company Records Great Mortgage ricduch All 1'roperlj to Secure Issue of 100,00(1,000 In llomlN. MoHkukp to secure a loan of $1(11,-000,000 $1(11,-000,000 was filed In the Bait Lake county recorder's olllco this week by the I'tah Power t Light company In favor of the Guarantee Trust company of New York ami William C. Cox nil trustees, This Is the largest amount over covered by a mortmiKO ever tiled In tho stato of Utah. The mortKUKo covers every Item of propei ty owned by tho company, Including In-cluding nil ItH power plants in Utah and Idaho, wator rlnhts, pipe Hues, traiismlssiou Hues, rights of way and other properties. The work to bo done with the money to bo raised by a bond iusuo under the mnrlK'iKO Is not mentioned in tlm iiiort;i;o, but it Is understood that the company is by lliln method lliiaiicliiK its gigantic scheme of operating electric elec-tric railroads and power pioposltlomi. In an ofllclal statement I' II. Knw-yer, Knw-yer, general manager of the Utah I'ovvor Ac Light company, said. "The Utah Tower & Light compnny is Just completing extensive. Improve- j WwE uiontB on tho various proportlci ac- ' j rMM tj u I red nnd now has a total rated capa- ., nfuk city of over 100.000 horsepower, with 1 1 WlH about 2,000 miles of transmission and j ffis distribution lines, and nerves a largo 'fills portion or tho power and lighting load 1 flWk In thin section of tho Inlcnnountnln f IH country. Tho company's market Is ;to well diversified, Including power for '( J,' SS milling, Irrigation pumping, sale to W. jk distributing companies, lighting, do- ''tflfl mestlo purposes, etc., which lends to ffifl uniform Income from sales. KfUK "A large portion of tho proceeds -MlUp from tho sale of thoso bonds will bo MG5S1 used for tho retirement of fho short bJIub lime notqa put out by tho Utah Sccurl- tflK ties corporation for the original flnnu- flflf cUk of tho enterprise." sHV |