| Show Bamberger Railroad Sold Thursday For to H. H Balser The Bamberger Electric Railroad was vas sold Thursday by Julian M. M Bamberger and Lahman Labman V. V Bowers receivers on order of the Third District court to H. H L. L Balser of V the Harris Trust and Savings Sa Banks of Chicago organization re-organization manager for the holders hoMers of 1500 lS lOO- lOO lOOS S in first mortgage bonds which natured matured in 1934 made the only bid The Interstate Commerce Co com coin commission commission mission has approved solicitation of deposit of bonds under a plan I which provides for organization of ofa a new company holders Bond-holders will vill receive in new bonds for each 1000 of old bonds cutting the funded debt in half They will also receive 20 shares of the capital stock of the new company for each 1000 of old bonds Of a total issue of shares of Stock Mr Bamberger will re receive re- re cc ve a bonus of shares for management Status of holders of bonds who refused to deposit them with the re-organization re manager is in doubt attorneys said Since the to total to- to toI total I tal amount received by the sale is I for their pro rata share would be small j The purchaser was informed by b court order that the Salt Lake and Utah Railroad Corporation may hold some prior rights due to its interest in property of the Salt Lake Terminal Company Projected in the early carl as the ithe Salt Lake and Hot Springs Railroad the electric line played an important part in the develop develop- development development development ment of Davis county in the horse and buggy days The founder of the line was the late Coy Gov Simon Bamberger The road 1 reached cached Ogden in 1908 |
