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Show 517,000,000 IS PAID FOR W LIGHT 'Utah Light & Traction Com pany Takes Over Street Car System f OTHER DEALS PENDING P B Sawyei Said to Be Slated for Management of New Concern tor a ons de a on sa d to be approx n atel $1 000 000 e Utah I ght & Tract on corapan este da pure ascd the p opert of t e tj ah Lgh & Ra wa con pany and he Sa t Lake Lg ( & Tract on companj The transact on affect ng the conso da on of the two con pan es s one of he largest of ts kind eve CO summated n the intermoun tan nee ' At t e cone us o of the series of meet ings he d yeste daj It was announced that fo he pre ent the e wou d be no change n tl e operating depar ments of the o d co porat ons The Uta L ght & Traction company s nco po -ated fo $10 000 OOff and ts of fleers and d recto ancude some of e most prom nent bus ness men in "a t Lake O J Sa sbu of Sa t Lake s pres dent of he new companj C W John on and R. C Ge nme 1 of Sa t Lake a e ice pres dents together with C E G oesbeck of New York. T e treasurer s S A Wh tnej of th s c t and the ass s ant treasu e s are t O Ho ard of Sa t Lake and Eugene P Sumn e son of New To k A II. Par 1 sons of h s c ty is secretary of the com panj The ass slant secretar es are J 31 Bdwe of alt Lake and Lawrence W O borne of Nev York The d rectors of the new corporation are as fo ows O J Sa sbury A Wh tney A H Pardons. C Johnson I It C Gen me J II B dwe E O How ard J Frank Jude and Joseph S "We s the genera manager of the Ltah. Lig t & Ra lwa company and who has ' been a d rector in that concern t The "inane a nterests contro ling the j Ltah Power &. Light company the Gen il eral k ectr c company have nterested kj theme ves together with ocal cap ta i in t e ne vly organ 7ed Utah Light & f Tract on companj But the Utah Power H . L ght companj t elf has at this time ( I no di ect onnect on with the new cor ff iporat on h To Divide Interests IeC Howe er t s said that w th n a sho t Bf time the I ghting street railway and vZhm power interests of the Ltah Lieht &. aHf' Traction company w 11 be d vided T1 e HE il ghtln" end of the business it is said -Bp ml remain with the present company BP UalicT the power bus ness will be taken IK lover by the Utah Power & Light com I panj .t tl e same time the latter cor I iff poration will contract with the former to T furnish all current for lighting and for I 1 the operation of the street car system , When these plans are consummated it I s sa d that P B Sawyer the present gene al mana0er of the Utah Power & Li0ht oraparty vw 11 be named as the j genera manager Vf the Utah Light S. i Tract on company and w 1 become the i act e operating head of the local street j ra wa s stem. I T e Ltah Power &. Light companj a ' f the owner of the local franchise of the I Merchants L ght. &. Power company a ' corporat on o gan zed in 1912. A p ovi sion of the franchise is that there aha 1 toe no con o datlon of the company with the Utah L ght & Railway company or w t an o a competing corporation wt out t wr en consent of the city com -n sooner- Such cod so Ida ti on per I m s on as been ought from the city eomm s n bu the atter body in 1 eu ' of onsen demanded certain conces s ons n he shape of reductions in 1 ght ins: and p we rate T comm ss on p aced t e negot ations ; n t e hands of Ma or Park and the lat 1 te subm ed the various des red ques tions o he n e ested corporations in "wr ng e era meetings of representa tlves of e ompanies have been held but no oun e propos t on or agreement has a je b en eached T he t and t e La Power & Lig of fi a s cannot get to e er it is e pe d ha the la ter w a ow its "Vie an Powe & J g company fran se o apse when e powe bus! ne s of he L ah L g t & T action com pa s ken e The, Utah Power & I g ompan he same transa t on ou ume n o possess on of the power en o ah L ght & Pa wa om ran fran h ses and wou d ope a e o ca under them The f anchles of the Afe an eh Powe ompan and o cLta Igt & Ra lwa ompany e p e same da e n 19o T o n e a o effect e con o on o h a g & Railwa on nd Sa ke Ligh & Tra t on ompan a aken jesterda morn ing a k a meet ngs he d by th ff an e to h of t e c wo on n All Stock Represented nfi NPa so A "C a sb T B i kor an P R nded t me ting. 0 a k g & Tra n om Pan p n e he p son or 1 p sto k of at or ga c onso idated op a f and approve a k n p e y worked ou H ff e b re pectlve com a pro d d for an immediate h name of the Utah I gh & on o ny T a agreement were then f d secreta y of state Under he a of Utah these artic es become art cles of incorporation of the new mpanv The Utah Light & Traction company is capital zed at J10 000 000 The stock js divided nto 400 000 shares wltl a par vai r jzd eacn mis stock is ex hang ble for the capital stock of the onsolldated' companies or If the 0 s of Utah Light & Railway stock n the stock of the Salt Lake Light & T ctlon company do not wish to ex ange for stock in the Utah Light & Tract on organi7ation they may ex change their stock holdings for cast The Utal L ght & Tract on company haUng taken over all the street rail way nnd Intern ban electric lines owned b c Utah 1 ight & Railway company w al the ot er business and holdings 1 tlat concern together with the prop erty of the Sa t Ldke Light & Tree Ion company took act vc harge of affairs yesterday Immediate y after the articles of agre nent were f led w th the score tary of state The pr n Ipal oft e of coirpanj is at 13 Sou h West Temp e street rhe off lain of the new concern Imn p dlate y ssued a statement tl at the busl ness of tl e onsolldated companies will be con 1 ted for the present a ong pra lln y e same lines as eretofo e un II the ff ers of the ton pany have d an opportunity to tl orougnly study and n vestlgnte the lo-al s tuat on an I leclde iwl e er or not nn c anges n the pera t o po of e ompany a e ne es aary A gre lea of es 1 as ee nan fex ed for weeks e eport tlat to prope tv of tie T tan Light Sl Ral way company was about to be transferred Tuion Onte Opposed E w on t e I tal Power & x a 7n n en erel t o de 1 it was morel tha onsol dat on was b effc el between that company and tie Lti T lgh Ra way o gnn 7a t n fho Oregon bhort Line Interests j which controlled the Utal L ght & Rail way stock at that time owever did not seem to favor the disposal of the Utah Light & Ral way compnny and tl c rumors ceased Last spr ng r k ike he 1 a onference n Now Yorl wit Judge Lovett, wl o ropresentel ho owner ship of the Utah Light & Railway com pany and at that me thore was manl festel a w Ingncss to d spose of tl e Utah I ght & R way property T e negotlat ons wh c fo owe 1 resu ted about six weeks ag the 1 awing p of an ag ee nen y 1 I the I ah Ligh & R way ompanv agreed to se and he n e s s who dos ra op chased agreed to b v p v e e. representa; tions con ei n ng t p p ope ty of he I I k & o npany ts ea n ngs and e h r ed o le o ' es ko o c 1 1 a of these ep esen m ff a n f the tah Lg i 1 a wa c niu and the t r ke K t & T a lon gan tion wo el o t tho flna nrtlc o I agrcen en at we e yes e lay ratified by e ho r f dire or f tl o r spe t e u n nt ons The of an f g e Trn o o n e b or v tha Hill k h e v hh nn tions nnl go e a p ospe n u ou tl s se t o w f j,- 1 Iggest to tors In the e pet of otl t e ommu ty an I t n o pany T e off In ( t cw ompany feel h u e e te ng f ell nt most n o h t me n r rn fl w t e h nl p o nr es e e nn h 0 w t tho gross f Is se wl h the deve opmont f tho state, n genoral |