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Show THE CONSOLIDATED COMPANY. The organization of the new Utah Light and Railway company, which succeeds suc-ceeds the Utah, Light and Power company com-pany and the Salt Lake City Street Kail-way Kail-way company, was cdn)plelcd' on Saturday. Satur-day. The officers are the- president of the Mormon church and other leading churchmen. The capitalization is . S10.000.000, of which H,000,000 is preferred stock and SC.000.000 common slock. The preferred stock is to receive S per cant dividends per annum befcre the common stock receives re-ceives anything; that Is, If the holders of iho latter draw any returns for their money, the holders of the preferred must first have drawn $220,000. But of couies It Is the purpose to have the common stock draw a fair return for the Investment, co that the charges to the public will b made accordingly. It is to this that we referred the other day when speaking on the question of over-car over-car ltcUv,ot ion. The manager f ihe ronsoJiJate'i company com-pany is Mr. Robert S. CMnpucll, who hns for so long and co courteously and efficiently bertn in-? manager 'of the electric elec-tric Ifjjht pompany here. It Is evidently his purpose to make the r:rvicc of the consolidated ccmp&ny as efficient as possible pos-sible in both of the branches of Its service. serv-ice. He advocates tlie immediate expenditure ex-penditure of half a million dollars to meet the- urgent needs of the system, p.nd ns much more In the ensuing five years. It Is a liberal programme, and that amount of money should secure the remedy of the defects complained of recently re-cently by the committee of the Commercial Commer-cial Club. The combination Is generally approved ap-proved by public sentiment. Though the working force may not be cut down, (and It Is said all employees will be re-talned, re-talned, certain economies are clearly practicable, and no doubt will be 'enforced, 'en-forced, with no decrease In effectiveness of result. The tendency of th'e times is toward combinations and consolidations in like and connected branches of business. busi-ness. The advantages are manifest, with the disadvantage usually appearing In the Issue of too much stock and bonds. But, as we have said, the present pres-ent instance is much less on that order than many that have been noted throughout the country, and doubtless the community will require and be-wlll-ing to payfor the service depended upon to yield revenue for the capitalization. |