Show STREET RAILWAY DEAL Kearns and Heath Said to Be S Interested in It1 OFFERS MAOE FOR STOCK It Is Reported Thai a Syndicate Composed Com-posed of Men Identified With the Clark Company Is Endeavoring to S Secure Control of the Salt Lake City Railroad Company and Also of the Rapid Transit Option on the West Side Rapid Transit Said to Have Been Secured z Senator Kearns Perry S Heath the Utah and California Improvement and Development company separately or collectively would like it is reported to secure control of the Salt Lake City Railroad company and piobably the j Rapid Transit company The Development Develop-ment company is organized but not Incorporated but It is destined to be one of the big side Issues of the San Pedro Los Angeles Salt Lake railroad rail-road Kearns Is president and Heath vicepresident They are said to have already secured an option on the West Side Rapid Transit Tran-sit whose franchises are limited but of some value The line has an electric franchise In the city and a steam franchise fran-chise outside tIme city including right of l way through Cannon farm where one of the San Pedro parties of surveyors is now encamped TheVe Is a demand for Salt Lake City railroad stock which may be traced to the ReamsHeath movement Offers have been made for It at 53750 while a month ago It was at 34 A W Mc Cure holds a large block Not long ago he bought out the Hoge holdings Outstanding Out-standing however are several largo blocks among Salt Lakers and the Chambers estate and Armstrong estate each has a block and It Is said the control could be changed by securing nil save the McCune holdings The stock has earned some money In the past but In lieu oC dividends the track age and cars have been Improved It Is said that people in the Interest of Kearns and Heath have made offers for the stock to the smaller stockholders stockhold-ers A W McCune bought largely of the stock when it was procurable at a low figure and it is presumed that ho would be willing to unload providing he got his own price The effort to buy so far however has been confined It Is understood to the scattered stockholders stock-holders It may or may not be a matter oC significance in tile present case but it is remembered that last fall one of the men who came out with R C Kerens to attend the railroad meeting was Hugh J MacGowan of Indianapolis who is one of the most successful streetcar men in the country The San Pedro company and those associated with it have been quite active in making mak-ing overtures for properties In UtahAn Utah-An effort was made to get the Utah Pacific and the Mercur roads Senator I Kearns got an option on the Saltair road last fall The city road can be made a paying property and It is safe to assume that with a change much money would be spent for the Improvement of the llneii The Salt Lake City railroad was chartered January ID 1872 It wrtn changed from animal to electric power in ISSt and 1890 and extended It operates op-erates nearly fifty miles of track The weight of the rails Is from 30 to 10 and 72 pounds The stock authorized Is 51000000 in 550 shares of which 5850000 is i outstanding The bonds outstanding are 5S 10000 5 < The West Side Rapid Transit is capitalized capi-talized for 300000 L L Nunn owns It |