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Show WILL IKE OF IT A IBCWICEfiS Elmer B. Jones Returns From New York After Three Months' Legal Battle. INDEPENDENT COMPANIES TO BE CONSOLIDATED Telephone Situation Is Clarified by the Recent. Action in New York. j Elmer R. Jones, managing director of the Utah Tmlepondent Telephone company, has returned from a three months' legal batttlo with the Boll Telephone company in New York. Having Hav-ing achieved what he proposed to do when he left for tho East, namely, the securing of an injunction restraining the Hell company from acquiring a controlling interest in the Utah enterprise, enter-prise, he is now planning to mnko the Independent company purely a local concern. The Independent 'companies of Utah, Idaho and Montana aro to bo consolidated and remain free and distinct from tho Bell company, with all the stocks and bonds of tho concern con-cern owned by local capitalists. Mr. Jones was preparing to leave for tho East about throe months ago, when lie received a message stating that the United States Independent Tclcphono compnny, which had acquired ac-quired a controlling interest in the local concern, was about to sell tho stocks and bonds to the Bell people. Originally tho local company had a contract with tho Stromberg-Carlson corporation, whereby the latter was to furnish .$3,000,000 for construction. 3n return tho Stromborg company received 501000 sharos of tho Utah company's stocks, a. controlling interest, and $2,500,000 in bonds. Afterward the United States Independent company took over the Stromberg-Carlson interests. inter-ests. Got Busy at Once. Early this 3'ear the United States company madc a contract with the New Jersey Trust company, in which it ngreed to turn over its interest in tho Utah company on March 8. Mr. Jones at onco interceded with the Attorney-General of New York. An' injunction in-junction was issued under the Donnelly Don-nelly act, passed in 1S00, which prohibits pro-hibits the consolidation of business concerns so as to restrain trade. The officers of tho Boll company were brought into court, and, it is said, confessed con-fessed that they formed the New Jersey Trust company. About ten days ugo tho Supremo Court of New Yo'rk handed down its decision and issued is-sued a permanout injunction. "The Bell company had offered a handsome price for tho Utah stocks and bonds," said Mr. Jones, "and had it succeeded in its design it would have meant the suppression of all local competition com-petition and tho creating of a complete monopoly." All of the stocks and bonds of tho Montana Independent Telephone company, com-pany, of which Mr. Jones is managing director, havo been placed in that State, thus making it a purely local concern, and that is what Mr. Jones intends to make of the Utah company. The United States Independent company com-pany now proposes to let the citizens of the various States take over their own securities, and that will leave tho firm with nothing but the manufacturing manufactur-ing plant. Some of tho most promi-neut promi-neut financiers of Utah have subscribed for large blocks of tho Utah company's com-pany's bonds and stock, and Mr. Jones is now organizing a big syndicate to tako over tho two and a half million bonds and 501,000 shares of stock controlled con-trolled by tho United States company. Hitherto the Utah and Montana companies com-panies havo been entirely distinct, except ex-cept for au agreement as to the exchange ex-change of toll, but now they will be consolidated into ono big company. The Independent exchange in Butte. lont., is nenriup completion, and will be ready for service in about sixty daj's. As soon as the financial deals are completed com-pleted extensive improvements will be mado in all departments of the local plaut. |