Salt Lake Herald-Republican | 1920-03-06 | Page 14 | Power Company Asks Rate Raise

I. I POWER COMPANY ASKS RATE RAISE Two T Million l Dollar Increase in Revenue Is Sought t Two million dollars more than It Its Ite present revenue must be added to th the income of ot tho the Utah Power LI Light ht com corn company company pany in order that thai it may earn a reasonable reasonable reasonable rea rea- rea- rea rate upon Its capital This is sot set forth In statements made to the public utilities tics commission by the power and light company at the h hearIng hear hear- ari ar- ar I Ing of or the application of the company to Increase its rates The Tho company compan It was stated desired to substitute four new ne schedules which it was said would replace twenty rate schedules which were filed with th the commission The hearing was before the full tull commission Report Explained George B. B Thomas secretary and treasurer of tho the company compan occupied the stand at the morning session and ho he explained a a report which was presented present present- ed the commission as an exhibit stating stat stat- In ing that the figures were taken from the tho books of ot the power company compan and I from tho the books of ot the companies which the parent company had absorbed and what was wag necessary to give sufficient returns for their service to patrons F From rom this exhibit it was shown that tho thio company was Incorporated under the laws of oC Maine September 6 1912 that as of January 1 1 1920 the time authorIzed author author- Izod capital was that there lund had been expended on the Utah power system to January 1 1 19 1920 O the sum slim of or that the balance sheet hect January 1 1920 s showed assets of or 89 Liabilities of at capital stock issued of were vere shown as bonds duo In 1944 1941 of notes and loans of or Utah rt Light hl Traction bonds guaranteed of ot U holdings Holding Detailed During tho the afternoon Markham Che vcr general superintendent and md chief engineer of or the company ex explained explained ex- ex plumed the holdings of or tho the company as shown by Jy a large barge map which was made an nn exhibit at tho the hearing hearing- About twenty five representatives of various corporations corporation and companies were present at tho the hearing It will be continued today