Show GOOD UTAH security SECURITY the growing demand for bonds which yield around 5 per cent on the investment says the united states investor directs attention to the utah light power co as at present prices these bonds net 51 4 1 per cent on the investment there are 3 outstanding which are practically a first lien on the entire property this amount including held by the trustees to retire old bonds the utah light power co it may be interesting to note controls the light and power business of salt lake city with a population in 1900 of the city of ogden with a population of and intervening towns with a population of salt lake city which is the capital of cf the state of utah and haa ha now a population of about is located in the center of a fertile farming and rich mineral section being one of the most prosperous cities of its size in the united states in J january Ta nuary 1904 the utah light power co and the consolidated railway power do co of salt lake city were consolidated under under the name of the utah light railway co under the terms of the consolidation the unused bonds of the utah light power co will be cancelled thus limiting the bonded debt of this company to which is a prior lien to the bonds of the utah light railway co now controlling the entire lighting business and eighty miles of street railway in salt lake city and ogden As indicating the security of these bonds in earnings it should be noted that the net receipts available for interest amounted during the calendar year 1903 to inasmuch as interest requirements quire ments call for there remained a margin of safety of in other words net earnings were over two and one half times interest charges since the organization of the company dividends dividen ds of 1 per ent cent c have been paid on the preferred stock the balance of earnings being b put into the plant |