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Show i Utah Power & Light Co. And Its Inflations By Dr. Barley A. Christensen We have seen that the Utah Power and Light Company has always been a Maine corporation, that it baa been one of a closely knit group of alien companies each of which was designated to play a special role in a complex promotion scheme, and that it has functioned primarily as the owner and operulor of utility properties purchased originally hy the holding members of the group and later transferred to it. The record throws 6ome interesting light on the dark and devious ways by which it has come into possession of its operating companies. Let us look at it. operation!. mean now You Question. again the Electric Bond and Share, acting aa tne managing director! of Ihl! syndicate? Answer. Ye!, elr. Question. Were tneee proper-lie!- , or lecuritieo representing their control, transferred by Electric Bond and Share Co. directly to l.'tah Bower and Light Co.? Answer. No, air; they were made the basis of aeveral preliminary transactions, by which I'tah Bower Co. and Utah Securities Corporation were financed and control of the properties was transferred from Electric Bond and Share Co, to Utah Securities Corporation prior to their final transfer to the L'tah Bower and Light Co. Question. What, briefly, were 'Question. Prior to tne forma- Share Co. acquired control of a the steps involved III the transtion of Utah Power and Light Co., ii ii in her of properties in Utah, fer? who controlled the properties that liialiu, and Colorado In 1812, jusl Answer. There were three before It organized I'tuh Power principal steps. it was organized to take over? By the first one Answer. Electric liond and and Light Co. to take over tlielr control of a part of the properties was transferred from Electric Buud and Share Co. to L'tah Bower Co. By the second step control of I'tuh Bower Co. By the set oml step control of L'tah Bower Co. and other portion of the properties originally acquired 297 North First West Phone S97 by Electric Bond and Share Co. In 1212 were combined iu a basket that was transferred to l'tah Securities Corporation. By the third transaction control of the lb. 5c BANANAS balance of propertiee acquired by Electric Bund and Share Co. in lb. 8c CAULIFLOWER 1912 was transferred to L'tah SeCorporation. All three of CANTALOUPES 5c curities tbeee transfers were preliminaries 10-lb- s. POTATOES 8c representing their contoi, to Utah Ifower and Light Co. (Senate 2-l- KwfJMH,M4J I HANSENS maK Fruits and Vegetables per per TOMATOES WATERMELONS BUNCHED VEGETABLES for for 5c bs. per lb. 2c ... 2 for 5c GRAPE JUICE pints 16c 12c 17c FIG NEWTONS WHITE STAR TUNA PEAS cans for 25c 3 cans for 25c per pkg. 21c 3 CORN RINSO SUPERSUDS SUPERSUDS SOAP, Crystal White Blue Box 19c Red Box 17c 10 bars 34c Fresh Quality Meats All Meats are U. S. Inspected CHEESE, Nippy SOUP BONES per lb. 27c STEAKS, Sirloin per lb. 22c LAMB CHOPS per lb. 25c Each 5c PLENTY OF PARKING SPACE Document 92, Bart 45, pp. 70th Congrees, First Session, 1912.) Now let us look at some of the 854-85- SPECIAL ON ALL UNTIL SEPTEMBER 3rd. Reduced to Regular $45.50 size Reduced to MS50 $395o ALL OTHER SIZES REDUCED ALL INCLUDE INSTALLING Complete with pipe and floor board or cups and a beautiful throw rug. GRANITE FURNITURE Ti nils Oil Doc. 7, 1912 proper-- , 34 N. Univ. No Carrying Charge away. Leonard Madsen, President of the Elders Quorum, with his councillors, John Larsen and WilLorna Ifacham, Reporter liam Sbumway, and all quorum Telephone 0S6RI member are sponsoring the celecommittee on sport A delightful social was held bration. The Bradford 8huu-wsLewis Clegg, are Monday afternoon In honor of Gammon, Joy O. Le Roy Lillie Stewart who Is visiting Roland Harding. here from Florida. She la resid- Cli'KR and will go to the The proceed ing in Spanish Furk at preaent. ward chapel. the for fuud They enjoyed the refreshing building all be there and Join with Uts water at Itosalawn pool and In a afterwards a delicious lunch was our friends and neighbors fun. and recreation of the day served to: Lillie Stewart, will be held Keller Society hostess; Daryl Stewart, Jerry ward In the chapul. Mrs. Nelson, Hazel Terry and Faye will present. the Debertson Ella Jcpperson. The rest of the day Social Service lesson and all viswas spent In picture shows and atiting teachers are asked to til her entertainment. tend. Miss Fawn Allen of Huntslatrsen of Long ville. Utab, spent the past week Mr. and Mr. Chrisand lliuch visiting with Miss Dorothy Trotter and children of Christianson tian and tlie Trotter family. have left for Montana, Vaughn, Meldrum Mrs. Elmer Mr. and a visit here homes following their and their two children Dora and friends. and relatives with Mina Ruth Jean and Clarence, Mr. and Mrs. Victor M. AnderMeldrum, and Miss Nila Booth son announces the arrival of a have returned from a short trip sou born to 51r. and Mrs. Into parts of Idaho, Montana and gritinl Howard Anderson of Salt Lake. Yellowstone park. 12. Mrs. V. F. Wiscomlie is spend- August Congratulations were extended visitRoosevelt In week the ing to Mrs. Mary G. Bunnell Sunday ing relatives. by her family and friends the ocHawkins Allen Stewart, Ray casion being hei; 81 binbday anand EDGEMONT y, Tu-ad- sy and bla two ions, Richard Douglas, spent the week end at Strawberry on a fishing trip. Mr. and Mrs. C. G. Meldrum and children, Gilbert, Jr., Katherine, Gloria, and Lola, of New York City, visited at the home of Elmer Meldrum, where they remained a week before leaving tor Yellowstone. The gueets have made extensive tours of the weat and Did Mexico. Mr. and Mrs. Wells O. Mecham and their son, Alta, apent the paet week visiting with relatives and friends In Southern Idaho. The Edgemont Literary club were guests of Mrs. Memo Sho-neFriday. Mrs. Cordelia Booth gave the book review. An enjoyable time was spent uy the club members. Democrats of Edgemont voting dietrict, together with their families and friends, will join with their fellow Democrats in the Auuual Democratic Outing, Saturday afternoon at 3 o'clock p. m., Resort. Aug. ' 37, ut Saratoga Each family brings their own picnic and Joins in the fun for the day and evening. y, SHARON Mrs. J. D. Pyne. Reporter Phone 026J3 Fifty deseendente met at the Riverside Park, Provo, Aug. St. to honor Rlduey A. Pace on his 76 th birthday. Among those attending were: Mrs. Sidney A. Pace Mr., end Sirs. Florence Shephard and family. Mr. and Mrs. Wm. H. Duffln t, and family and Mr. Joseph Mr. and Sirs. Nola Farre and family, Mr. and Mrs. Tltomaa B. Pace and family from Falrvlew, Mr. and 3Irs. Geo. R. Pace and family of Eureka, Mr. and Mrs. Carl Pace, Mr. and Mrs. Louis BBeer and family. Special guests were a sister, Mrs. Olive nchoett-li- n Sirs. Olive Millner ; a nelce. and son, Harold, of Salt Lake City; Mr. and Sirs. Archie White and son, Maynard, and daughter. 3111-le- ties and eecurltlee that cost the holding companies 911.719,859.-- 1 63 were to Utah transferred Bower and Light for 934,226,-725.0- 2 at an inflation of On Jan. 25, 1911, properties and securities costing the holding companies 92,277-926.0- 3 were transferred to Utah Bower and Light Co. for 97.837.-00- 0 at la Inflation of 98.559.033.-9Provo. On Feb. 28, 1915, properties Slurie, of Dinner was served to 61 after and securities costing the hold' which the following program was 9L813.401.66 companies Ing were transferred to Utah Power presented. Song, Tlmpanogos Quartett, Uy and Light ror 96,192,641.19, at Arthur Shepharu, James and an Inflation of $4,679,239.51. Moroni Jensen and Dee Adams. 31, 1928, the lly December Instrumental music by Nora total Inflation had reached 9 Kofford and children, Lenore and Tbla Inflation was Ilex, of Sharon ward. , 33.2 per cent of the total capital Solo, Mrs. Verna White, Provo. account of the company and 63.6 Song. Tlmpaugos Quartett. per cent of the total purchase Paper. Mrs. Florence Shephard. fixed to (See capital. charges SIuslc, Nora Kofford and Co. bf. document referred to, pp.86S Duet, Florence and Sharlet and 1667 bf.) Since the fixed capital of the Shephard. Music, Nora Kofford and Co. service rates, the meaning of Reading, Mrs. Florence Shepthese Inflations for all of us Is hard. our to Through grasp. essy Treo, William, Florence and monthly payment! to the Utah we Sharlet Shephard. Bower and Light Company Remainder of time was spent have for years been paying to an In playing soft ball. on alien syndicate a fair return a 125.006.000 Investment that was never made. A more complete statement of the meaning of this to the patrons and stockholders Mrs. On, F. Wells, Reporter of the Utah Bower and Light will 4 Telephone have to await another article. Everything is In readiness for I)r. Vasco M. Tanner Is home our Annual Ward Reunion to be again after a five day chairman- held Saturday at lloalawn. Inviship at the Rocky Mountain Con- tations have been extended to all ference of Entomologists held In ward members and those of SharWyoming, after which he and on slake. All are promised a fine Mrs. several day's enturliiinnieiit. Tanner visited universities in Wyoming and At ten o'clock tho Lincoln and Colorado. Vineyard Jr. Bund will bo on hand to serenade, followed by Mrs. Madge Dnee of Provo re- raeea and prizes for children, and turned this week from a visit soft ball games. A Mg dance will with relatives and frleuds in climax the days activities and 158 , I worth of prizes will be given Logan anil Smithfleld. 7. Eureka Heaters $65.50 size 5. transfers of property aa studies ln Inflation. yA lew relatively minor ones will Illustrate the practice. An office memorandum of the Electric Bond and Share Co. shows that on Juna 11, 1912, the Davie County Light add Bower Co. wae purchased for This property was 127,500. transferred by way of the Utah Securities Corporation to the fixed property account of the Utah Bower and Light Company at the purchase cost. But, "by from the New York office, tho Utah Power and Light Company charged its fixed prop- account with an additional That la, property that Ierty the holding company 127,--i 500 was given a value of 950,000 on the books of the operating company. Similarly, on February 28, 1915, securities of the L'tah Light and Traction Co. that cost tha mother holding company 1999,900 were transferred to the Utah Bower and Light for 95,1 531,629.51, or at an excess valuation of 94,626,739.51. The foregoing are Illustrative. Lot us now look at a few summaries: Regular Friday, August UTAH VALLEY NEWS Tage 4 ' VINEYARD 01-R- PHONE 34 FOR BETTER AND CHEAPER SCREENS WINDSOR Mrs. Ferry Nielson, Reporter shower was given Thursday evening at the home of Mr. end Mrs. Aasel Marrott in honor of their daughter, Melba, who recently became the bride of Lester Stewart of Vineyard. The bride received many beautiful and useful gifts and the following young people spent a very enjoyable Ruth Marrott. Betty evening, Andrew, Helen Prestwich, Leora Gordon, Mary Jean Fenton. Helen Green, A nr a Williams. Dorothy Williams, Cleora Wright, Genevieve Allred, Shirley Harris, Maurlne Beck. Blanche Anton. Lola Iroly. Eva Richardson, Edith Stewart. Leah Stewart, Helen Stewart. Elda Rrema, Phy-lts- s Gillman, Bessie Downs, Alice Anderson, Elda Zubeck, Revs Marrott, Thelda Glllis, Wanda Sorensen and Verna Marrott. The primary officers and teachers met at the home of their president, Mr. Zora Hanson, Thursday afternoon to make plans for the opening of primary in September. Hesel Backua left Monday evening for a trip to California and other places of Interest. Bishop and Mrs. Stanley B. Harris and family motored to Salt Lake City Sunday and spent the day visiting e forjner mls- - 3rd So. 2nd West Bishop ash-burn- Jennie Allred, Allred, Mrs. Janet Smith, Virginia Backus, Ranee and Nana Nielson, C hr las College and Perry Corbridge. Mrs. Arnold Jones of Bingham Is risking her father, Arthur Harris while her husband is Ini Idaho on a bualnesa trip. Mr. and Mrs. Jack Bullock of Mr. and Mrs. visited Nevada Clarence Harris Friday. After spending a week vacationing In Provo canyon, Mr. and Mrs Roue Olsen returned home Satur- 8unday at the regular quorum meeting in College hall. see Mr. J. w. Mr. end Thornton returned to their home In Provo this week after another aurcias-fu- l summer at Northwestern university where Mr. Thornton, principal of the Farrer Junior high, continued hie gradual: work in educational administration. Mr. Thornton Is a candidate fur r election to the Utah senate. Co-le- en day. Maxine and Norma Hendrick-- ! vason arc spending a 2 Seta 49 plumbing, H. 3V. Heat, comrod ground, 2 Apts, Close pletely furnished. !i liooiu Mod. Brick. 2 Apts. SxD rod. 1 art plumbing, Close to B. Y. I'm 1000.00 See 5 I s for F. II. A. Financing Good Buys for PLANS N. Univ. Avfc, n 480 ESTIMATES Mutual BROS. 11 71 & Lbr. Goal BRIMHALL 189 W. What 1 Nosik 5th So. Provo Phone 280 North, 5th Wet 71 East Center St. ....23c Vinegar CaM 25c Pork & Beans 23c Corn Flakes Tuna Flakes "rf1ACmc) 10c Provo city schools will reopen for the 1938-3- 9 school year Sept. 12, with the cloae of the year forecast for May 26, 1939, according to a school board ruling made Tuesday night this week. Both the Parker and Tlmpanogoa new school buildings are expected to be reedy by then. Cheese A Fancy - Mild Per Pound 15c 15c Liberty Sodas LOOK Your Very Best Lewis Barber Shop I Are Better I PHONE 1123 274 West Center Provo VALLF.Y Flour & Feed with REALTY CO. Promoted by golf enthusiasts throughout the city, the new Provo Golf Clnb house fund la being enlarged dally by the sale of "bricks at a dime each, with an objective set of 30,000 dimes for the next two weeks In an intensive drive heeded hy Aura C. Hatch and Jean Hoover.' Assistance from other then golfers la being sought on the ground that the new golf club house will be e community center for club and social dances and parties, and will serve a useful community purpose long desired In Provo. HAIRCUTS Build Now! 4300.00 BRIEFS ALWAYS Apt. i Mantl. After a delightful two weeks spent visiting in California ,Mer-Un- e and Dell Olsen returned home Friday. Betsy Bradley of Salt Lake la Mrs. visiting her grandmother, MaryJL Halea. Betsy apenda her vacation each year at Mutual Dell with the Windsor ward. Mr. and Mr. Clarence Ashton pnd family are spending ,two weeks in Sanford, Colorado, with Mrs. Ashtons mother and other relatives. CITY 4 Mod. Brick, PROWS & HAWS cation visiting their grandparents at For Sale See U pre-scho- ol 89 c Flour if.1? Fruits & Vegetables Tomatoes S 3c 5c ,iipe Pound Solid - Bleached Per Pound I1 AC (THOMPSON SEEDLESS) Per CC Ioun.3w lc Water Melon J. S. Smith & Son PROPRIETORS WHITE FAWN and RED ROSE FLOUR FEATURING HIGH GRAD Poultry and Dairy FEEDS HAY and GRAIN 151 N. University Ave. PHONE 114 Baby MEATS Beef Roast, lb. 13y2c Pure Lard 25c Fancy Sliced Bacon, lb. 21c 3 ' I tut r? Well Traders payment on New, Used or Rebuilt Tires 3 ri it ri s ri 8 w? THRE CO. c" r- I'f u Spear Lumber Co. 1 vr niversary. Eigbty seven descendants of the late Nells Larsen met in a family reunion Sunday at Saratoga. Dinner, sports and a program were enjoyed and a family organisation took place with Joseph Larsen of Escalante, president; Benjamin Larsen, Long Beach, California, vice president; Mrs. Etta Larsen of American Fork, Recorder; Mrs. Sadie LarMrs. sen, Escalente, secretary; Olens Gammon, treasurer. Members of the family met for the first time in twenty-seve- n years. A time of rejoicing wan had by the entire group. An interesting Parent and Teacber meeting was held Monday evening In the ward chapel with vice president, Mrs. Harold Holdaway, in charge. Mrs. Jennie Fox spoke on school lunches and S. H. Blake of the Alpine School Board discussed school problems. There was a large group of school patrons In attendance. Mrs. Bertha B. Christensen and son Charles of Jackson City, Wyo. spent the week with her sister, Mrs. Leonard Madsen. Mr. and Mrs. Richard Robinson and three daughters of Sacramento, Cal. are spending their vacation In Utah, and visited Mrs. Harriet Varley. J. Marians Jensen was selected and by the Utah Stake presidency quohigh tta priests by accepted of Mr. and Mrs. Joe Ernest rum of the stake aa Us president, Ulnghsm spent the week visiting ashhurn who succeeding Jesse Mrs. and Mr. of at the home with a hearty vote released was Archie Maxfleld. for his successful Mr and Mrs. Ferry of appreciation Monday three or four of the past labors to Nielson motored Logan taking Mr. Jensen, Assisting years. with them those who bad picked end Seth Scott were berries for them the past season. Isaac Jacob 's Mr. l The following spent a very en- named ea councillors, C. A. Anderson councillors, joyable day at this famous resort, Beth and and William Clayton, both being Mrs. Blanks Hooley, released. The action took place Genelve and of companion slonary Harris. 2C, 193S Phone 34 Now! Small Monthly Payments All Building Materials at New Low Prices Re-Shing- le |