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Show Pago 4 Utah Power & Light Go. And Its Inflations By Z)r. Parley A. Christensen We have seen that the Utah Power and Light Company has always been a Maine corporation, that it has been one of a closely knit group of alien companies each of which was designated to play a special role in a complex promotion Bcheme, and that it has functioned primarily as the owner and operator of utility properties purchased originally by the holding members of the group and later transferred to it. The record throws some interesting light on the dark and devious ways by which it has come into possession of its operating ' companies. Let us look at it "Question. Prior to tno lorma-tio- n of Utah Power and Light Co., who controlled the properties that it was organised to take overt Answer. Electric Bond and Share Co. acquired control of a number of properties in Utah, Idaho, and Colorado in ISIS, just before it organised Utah Power and Light Co. to take over their maK HANSENS 297 North First Wert Phone 297 Fruits and Vegetables BANANAS . a . CAULIFLOWER . . . 1 1 1 CANTALOUPES POTATOES TOMATOES WATERMELONS BUNCHED VEGETABLES per lb. 5c per lb. 8c 5c for 8c for 5c .per lb. 2c ... 2 for 5c 10-lb- s. 2-l- bs. GRAPE JUICE FIG NEWTONS ; v WHITE STAR TUNA PKAS CORN a a . .a.I a pints 16c 12c 17c a a .................. RINSO SUPERSUDS SUPERSUDS SOAP, Crystal White 3 CftllS fQT 25C 3 cans for 25c per pkg. 21c Blue Box 19c Red Box 17c 10 bars 34c Fffcsb Quality ttoato AD Meats are U. S. Inspected . . per lb. 27c CHEESE, Nippy SOUP BONES ...Each 5c STEAKS, Sirloin per Hi. 22c LAMB CHOPS ; . . . per lb. 25c ........... PLENTY OF PARKING SPACE operation!. Question. Yon mean SPECIAL .!' V." r ON ALL U Ini UNTIL SEPTEMBER 3rd. r $65.50 size h lAQSO Reduced to Regular . $45.50 size 39 Reduced to ALL OTHER S REDUCED ALL INCLUDE INSTALLING Complete with pipe and floor board or cups and a beautiful throw rug. 5. ! ! Terms 04 N. Univ. A To Carrying Charge. afterwards a delicious lunch was served to: Lillie Stewart, the hostess; Daryl Stewart, Jerry Nelson, Hasel Terry and Faye Jepperson. Tho rest of tho day was spent In picture shows and other entertainment. Miss Fawn Allen of Huntsville, Utah, spent the past week visiting with Miss Dorothy Trotter and tha Trotter family. Mr. and Mrs. Elmer Meldrnm and their two children Dora and Jean and Clarence, Miss Ruth Meldrum, and Miss NUa Booth have returned from a short trip Into parts of Idaho, Montana and Yellowstone park. ' F. Mrs. W. Wlaeombe Is spend- ing tho week in Roosevelt visiting relatives. Allen Stewart, Ray Hawkins and his two sons, Richard and Dongles, spent the week end at Strawberry on a fishing trip. Mr. and Mrs. O. Q. Meldrnm and children, Gilbert, Jr., Katherine, Gloria, and Lois, of New York City, visited at the home of Elmer Meldrum, wham they re malned a week before leaving tor The guests have Yellowstone. tnmiim extensive tours of the went and Did Mexico. Mr. and Mra: Wells O. Mecham and their son, A1U, spent the past week vlaltlng with relatives and friends la Southern Idaho. The Edgemont Literary club were guests of Mrs. Marne S honey, Friday. Mrs. Cordelia Booth gave the book review. Aa enjoyable time was spent uy the club members. Democrats of Edgemont voting district, together with their families and friends, will join with their fellow Democrats In fha Annual Democratic Outing, Saturday afternoon at 8 o'clock p. m., Aug.' 27, at Saratoga Resort. Each family brings their own picnic and jolna in tho fun for the day and avening. SHARON Mra. J. D. Pyne, Reporter Phone 525JI Fifty descendants met at the Riverside Park, Provo, Aug. 21. to honor Sidney A. Pace on his 7(tb birthday. Among those attending were: Mr., and Mrs. Sidney A. Face Mrs. Florence Shephard and family. Mr. and Mrs. Wm. H. Duffln and family and Mr. Joseph Millet. Mr. and Mrs. Nola Farrs and family, Mr. and Mrs. Thomas B. Pace and family from Falrvlew, Mr. and Mrs. Geo. R. Pace and family of Eureka, Mr. and Mrs. Carl Pace, Mr. and Mrs. Louis BBeer and family. Special guests were a sister, Mra. Olive ttchoett-lln-; a nelce. Mrs. Olive Millner and son, Harold, of Salt Lake City; Mr. and Mrs. Archie White and son, Maynard, and daughter, Marie, of Provo. Dinner waa served to 51 after which the following program was presented. Song, Tlmpanogos Quartett, by Arthqr Shapharu, James and Moroni Jensen and Dee Adams. Instrumental music by Nora Kofford and children, Lenore and Rex, of Sharon ward. Solo, Mrs. Verna White, Provo. 8ong, Tlmpangos Quartett. Paper, Mra. Florence Shephard. Music, Nora Kofford and Co. Duet, Florence and 8harlet 8hephard. Music, Nora Kofford and Co. Reading, Mrs. Florence Shephard. Treo, William, Florence and 8harlet Shephard. Remainder of time waa spent in playing soft ball. of companion alonary Bishop of the Eldera Quorum, with his Harris. Mr. and Mra Joe Ernest of Bingham spent tho week visiting at the home of Mr. and Mra Archie Maxfield. Monday Mr and Mra Ferry Nielson motored to Logan taking with them tboee who had picked, berries for them the past season. The following spent a vary enjoyable day at this famoua resort! Mra Blanha Hoolar, Beth and our friends and neighbors fun. Jennie Allred, Geneive nod Coand day of recreation Relief Society will be held teen Allred, Mra Janet Smith, Tuesday In the ward chapel. Mrs. Virginia Backus, Ranee and Nana Ella Bebertson will present. the Nielson, Chrlss College and Perry Soda! Service lesson and all vis- Corbrldge. attMrs. Arnold Jones of Bingham iting teachers are asked to Is visiting her father, Arthur end. Larsen of Long Harris while her husband is in Benjamin Beach and Mr. and Mrs. Chris- Idaho on a buslnasa trip. Mr. and Mra Jack Bullock of tian Christianson and children of Vaughn, Montana, have left for Nevada visited Mr. and Mrs. their homes following a visit here Clarence Harris Friday. After spending a week vacationwith relatives and friends. Mr. and Mrs. Victor M. Ander- ing in Provo canyon, Mr. and Mrs son announces the arrival of a Roue Olsen returned home Saturgrand son born to Mr. and Mrs. day. Maxine and Norma HendrickHoward Anderson of Salt Lake, vason are spending a August 12. Congratulations were extended cation visiting their grandparents to Mrs. Mary G. Bunnell Sunday at MantL After a delightful two weeks by her family and friends the occasion being her, 81 birthday an- spent visiting In California , Marlene and Dell Olsen returned niversary. Eighty seven descendants of home Friday. the lata Nella Larsen met in a Betsy Bradley of Salt Lake is Mra. family reunion Sunday at Sara- visiting her grandmother, toga. Dinner, aports and a pro- Maryjl. Hales. Betsy spends her gram were enjoyed and a family vacation each year at Mutual Dell organisation took place with with the Windsor ward. Mr. and Mra Clarence Ashton Joseph Larsen of Escalante, president; Benjamin Larsen, Long (and family are upending Jwo Beach. California, vice presidents weeks in Sanford, Colorado, with Mrs. Etta Larsen of American Mra. Ashtons mother and other Fork, Recorder; Mrs. Sadie Lar- relatives. Mrs. sen, Escalante, secretary; Olena Gammon, treasurer. MemCITY BRIEFS bers of the family met for the first time in twenty-aeve- n years. A time of rejoicing was had bj Promoted by golf enthusiasts the entire group. the eity, the new An Interesting Parent and throughout house' fund is Teacher meeting waa held Mon- Provo Golf Club enlarged being dally by the sate In the ward chapel of day evening a "bricks" dime at each, with with vice president, Mrs. Harol an objective set of 20,000 dimes Holdaway, In charge. Mrs. Jennie InFox spoke on school lunches and , for the next two weeks In an C. drive tensive headed Aura by 8. H. Blake of the Alpine School Board discussed school problems. Hatch and Jean Hoover. AssistThere was a large group of school ance from other than golfers is - being sought on the ground that patrons In attendance. Mrs. Bertha B. Christensen and the new golf club house will be son Charles of Jackson City, Wyo. a community center for dub and nodal dances and parties, and spoilt the week with her sister, will servo a useful community Mra Leonard Mudseu. Mr. and Mra Richard Roblnaon purpose long desired In Provo, and three daughters of SacraProvo city schools will reopen mento, Cal. are spending their for the 1128-1- 1 school year Sept vacation in Utah, and visited Mra with tha close of tho year 18, Harriet Varley. forecast tor May 25, 1818, according to a school board ruling made Tuesday night thla week. Both the Parker and Tlmpanogos new school buildings are expected to Mra Ferry Nielson, Reporter be ready by than.. A shower was given Thursday evening at tho home of Mr. and ALWAYS LOOK Mi. Aaael Marrott la honor of their daughter, Melba, who reYour Very Best cently became the bride of Lester Stewart of Vineyard. The bride received many beautiful and useful gifts and the following young people apent a very enjoyable Ruth Marrott, Betty evening, HAIRCUTS Andrew, Helen Prestwlch, Leora Gordon, Mary Jean Fenton, Helen Are Better Green, Arva Williams, Dorothy PHONE 1123 Williams, Cleora Wright, Gene274 Wert Center vieve Provo Allred, Shirley Harris, Jdaurlne Beck. Blanche Aston, Lois tyaoly. Era Richardson, Edith Stewart, Leah Stewart, Helen Stewart, Elds Bream, Phy-ll- Mrs. Geo. F. Wells, Reporter Telephone 51-R- 4 pre-scho- ol see WINDSOR . Lewis Barber Shop as Gillman, Beesle Downs, Alice Elda Zubeck, Reva Anderson, Marrott, Thelda GUlls, Wanda Sorensen and Verna Marrott. Tha primary officers and teachers met at the home of their president, Mrs. Zora Hanson, Thursday afternoon to make plans for tho opening of primary la September. Hasel Backua left Monday evening for a trip to California and other placea of interest. Bishop and Mrs. 8tanley B. Harris and family motored to Salt Lake City Sunday and spent' the day visiting a forjner mls- - VALLF.Y Flour & Feed , 71 Room Mod. Brick, 9 Apts. 9x9 rods, 1 set plumbing, dose to B. Y. U., (1600.00 FEEDS HAT and GRAIN 151 N. University Ave. PHONE 114 F. H. A. Financing Bee Us for Good Buys See Us for PROWS & HAWS PLANS REALTY CO. 59 N. Uulv. Ave, ESTIMATES 1 BROS. 189 W. 1 He 192 & Ur. Goal BRIMHALL 5th So. Provo mid IlInlteiT 71 North, 5th 71 Wert Vinegar Eart Cnter SL 23c mfSE. 25c 23c Pork & Beans Corn Flakes Tuna Flakes 1QC Cfaeeoe Liberty Sodas 15c ! 09c Flour Fniito & Vegetables ; Tomatoes rmiS L Cauliflower Water Melon Baby 3c 5c S"rorPo3c Grapes WHITE FAWN Nfej 1 B with 4900.00 PROPRIETORS RED ROSE FLOUR FMATUHOTG wims nuansr Poultry and Daisy Build Hon! 4 Apts. 1 Seta H. W, Heat, 4x8 plumbing, rods ground, S Apts, comdose pletely farnished. Mod. Brick, J. S. Smith A Son lc Green River Per Pound MEATS Bee Roast, lb. fflzc Pure Lard 25c Fancy Sliced Bacon, lb. 21c ??? Well Trade-rfDf- e X Ml payment on 348 wTcenter New, Used or Rebuilt Tires IL Spear Lumber Co. jftrd So. 2nd West For Sale la 26; 1938 Sunday at tha regular quorum meeting In College halL e e e Mr. nod Mn. J. w. Thornton returned to their home in Prove thla weeh after another successful summer at Northwestern university where Mr. Thornton, principal of tha Farrar Junior high, continued his graduate work In educational administration. Mr. Thornton la a candidate tor re election to tho Utah senate. J. Marinas Jensen was sdaeted by tho Utah Stake presidency and accepted by the high priests quorum of the stake as Its president, succeeding Jesse Washburn who was released with a hearty vote of appreciation for his successful labors of tha past three or four yean. Assisting Mr. Jensen, Jacob and Seth Scott were named as councillors, Mr. Washburns councillors, A. C. Anderson and William Clayton, both being released. Tho action took place 1 VINEYARD Everything Is in readiness for our Annual Ward Reunion to be held Saturday at Roealawn. Invitations have been extended to all ward members and those of Sharon stake. All are promised a fine day's entertainment At ten o'clock the Lincoln and Vineyard Jr. Banda will be on hand to serenade, followed by Mrs. Madge Dues of Provo re- races and prises for children, and turned this week from a visit soft ball games. A big dance will with relatives and friends in climax the days activities and 85 Logan and 8m!thfleld. worth of prixes will be given PHONE 34 FOR BETTER AND CHEAPER SCREENS away. Leonard Madsen, President councillors, John Imrsen and William Shumway, and all quorum members are sponsoring the celecommittee on sports A delightful social was held bration. The are Lewis Clegg. Bradford ShumMonday afternoon in honor of O. Lillie Stewart who is visiting way, La Roy Gammon, Joy and Roland Harding. Clegg hers from Florida. She is maidThe proceeds will go to tho ing in Spanish Fork at present. fund for tho ward chapel. building the They enjoyed refreshing be there and Join with all Lets water at Roaalawn pool and in a Mac Sam, Reporter Telephone 524R5 Lornn Dr. Vasco M. Tanner is home again after a five day chairman-'hl- p at tha Rocky Mountain Con-- j ferenre of Entomologists held in ' Wyoming, after which he and Mrs. Tanner visited several universities In Wyoming and Colorado. j FURHinrURE EDGEUOIIT now again the Electric Bond and Share, acting aa toe managing dl-- r actors of thle syndics tat Answer. Yea, air. Question. Were these properties, or securities representing their control, transferred hr Electric Bond and Share Co. directly to Utah Power and Light Co.?' Answer. No, sir; they were made the basis of several preliminary transactions, by which Utah Power Co. and Utah Securitise Corporation were financed and control of the properties was transferred front Electric Bond and Share Co. to Utah Securities Corporation prior to their final transfer to the Utah Power and Light Co. Question. What, briefly, were the steps involved in the transfer? Answer. There were three principal steps. By the first pne control of a part of the properties was transferred from Electric Bond and Share Co. to Utah Power Co. By tha second step control of Utah Power Co, By the second step control of Utah Power Co. and other portion of the properties originally acquired by Electric Bond and Share Co. in 1111 were combined la a basket that was transferred to Utah Securities Corporation. By the third transaction control of the balance of properties acquired by Electric Bond and Bhare Co. in 111? was transferred to Utah Securities Corporation. AU three of these transfers ware preliminaries representing their eontoi, to Utah fjower and Light Co." (Senate Document IS, Part 45, pp. 154-1570th Congress! First Session, 1111.) Now lot us look it soma of tha transfers of proparty aa stadias A saw rata lively (In Inflation. minor onea wUl illustrate tha practice. An "office memorandum" of the Electric Bond and Share Co. shows that on Jana 11, 1511, tha Darla County Light and Power Co. was purchased for This property was 117,500. transferred by way of the Utah Securities Corporation to the fixed property account of tha Utah Power and Light Company at tha purchase cost. But, "by instructions from tha New York office, tho Utah Power and Light Company charged its fixed property account with an additional That is, property that 112,600. coat the holding eompany 2?r j 500 was given a value of 250,008 on the books of the operating 'company. Similarly, on February ' 28, 1116, securities of the Utah Light, and Traction Co. that cost j tho mother holding eompany ; 1111,000 were transferred to tha !Utah Power and Light for 15,1 15,010.61, or at aa excess valuation of 14,121,720.51. Tha foregoing are Illustrative. Let us now look at a few sum-- ! merles: On Dee. 7, 1012 properties and securitise that cost the holding companies 111,710,850.-- I were transferred to Utah .Power and Light for 24.226,- 0. 726.02 at an Inflation of On Jan. 16, 1011, properties and securities coating the holding companies 22,277- 020.02 were transferred to Utah Power and Light Co. for 27,827, 000 at la Inflation of 25,558,022.-0- 7. On Feb. 28, 1015, properties and securities costing the holdcompanies 2l51f, 401.28 ing were transferred to Utah Power and Light for 15.101, 041.10, at an Inflation of 24.570,220.51. By December II, 1028, tho total Inflation had reached This inflation waa . 12.1 per cent of the total capital account of tha company and (1.5 ' per cent of the total purchase chargee to fixed capital. (See document referred to, pp.255 bf. and 15(7 bf.) Blnce tho fixed capital of tha j I service rates, the meaning of these Inflations for all of us Is easy to graap. Through our monthly payments to the Utah Power and Light Company wo , have for years boon paring to an alien syndicate a "fair return" on a 225,000,000 investment that was never made. A more complete statement of the meaning of this to the patrons and atockholden of the Utah Power and Light will hare to await another article. ,22,-604,8(6.1- Regular Friday, August UTAH VALLEJ NEWS Phone 34 & HI THIRIIS Re-Shin- Now! (2i o Provo Small Monthly Payments All Building Materials at New Low Prices gle |