Show PAYABLE IN 110 YEARS Error Makes Power Bonds Apparently Due in 2000 l MAY BE A COSTLY MISTAKE The Paper Amounting to 535000 Was Issued by the Ogden City Lighting Company and Bears 7 Per Cent Interest The Intention 1 Was to Make the Issue TenYear l Bonds But the Date of Maturity Was Advanced 100 Years Judge LeGrand Youngs Opinion t A curious and what may possibly be 1 costly error has been discovered In I the wordIng of thirtyfive 1000 7 percent per-cent bonds Issued by the Ogden City Lighting company ten years ago The Intention was to Issue tenyear bonds due November 1 1 O but the bonds I read duo and payable November 1 I A D JUOO making them 110year bonds The Ogden City Lighting company I com-pany was absorbed by tho Union Light and Power company and that company com-pany was later taken over by the Utah Light and Power company which assumed as-sumed the responsibility pn the bonds The error was discovered recently when the Utah Light and Power companY com-panY was looking up the matter of taking up the bonds on November 1st next nextaldn Taking Into consideration that money today for such investments IH I worth but 3 to I per cent and that the bonds are made to run 100 years longer than anllcipated d the holders thereof maybe j may-be said to have a fortune on the face I of the case The bonds would be worth three and a half times their par value or 122500 an enormous return for 35000 Inveslcd ton years ago Judge LeGrand Young the attorney for the Utah Light and Power company com-pany said last night In speaking oC tho matter that the bonds being made payable A D 2000 was clearly a clerical cleri-cal error that the coupons show it was tenyear paper and the resolution of the directors authorizing the Issue IH for a tenyear bond The company said Judge Young will tender the money On November 1st next to tho bondholders whoever they may be Whether they will accept It or not I dont know but they cant enforce In a court a provision which was never Intended and which Is clearly a clerical error |