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Show ELECTRIC CdPH mm office Concern Arranges to Facili. tate Transfers of Stock in This Territory. j AGENCIES ARE NAMED Utah Power & Light Con-cern's Con-cern's Business Increases j to Great Extent. 1 1 So large have become the purchasei of the preferred stock of the Utah Power & Light company throughout the Utah, Idaho and Colorado territory eerved bv this organization that it has been found necessary to open up in Salt Lake a loca.1 stock transfer office in order to lnsurj the prompt and easy transfer of Rtock certificates in the Interest of the growing number of stockholders in the Utah Power & Light company In this section. Word was received here yesterday of the appointment of the Utah Savings & Trust company in Salt iAke as local transfer agent for the preferred stock of the Utah Power & Light company and of the appointment of the Tracy Loan & Trust company as local registrar. Tiie New York transfer agent is the Guaranty Trust company of New York and tha New York registrar is the Bankers' Trust company of tiiat city. With the announcement of these appointments ap-pointments comes also the interesting news that while the Utah Power & Llci.t company, which supplies electric servi ;e to a great many cities, towns and rural communities In southeastern Idaho, rono-ern rono-ern and central Utah and western Co.o. ratio, was originally financed by east, ern capital, the people in the territory served are gradually acquiring an inter, est in the company to such an extent U?t at the present time a large part of the preferred stock of the Utah Power ft Light company is owned by customers of the company. . Preferred Stock Sold. Officials of the company stated yesr. day that during the past three months the Harold K. Smoot Securities company, com-pany, which is the local distributor of the preferred stock, has sold a great manv ; shares of this stock In small lots and ' widely scattered throughout the territory ; served by the company. ' It is stated tiiat preferred stork tr.tt has recentlv been purchased by the com-! com-! pany's customers, together with the pre-: pre-: ferred stock purchased by directors aM , emplovees of the company, now amounts to more than $700,000. The local directors and employees of . the Utah Power & Light company own I $J10,000 worth of the preferred stock. The officers of the company express keen satisfaction over the demand for the stock and point out that it is an indication indica-tion that the people throughout the territory ter-ritory served are taking a large financial interest in the operation of this home institution in-stitution and that they have confidence in the future of the territory itself and consequently in the growth and development develop-ment of the company. Much Is Paid Out. J The IMah Power & Light company and i its di recti v affiliated companies, such as j the Phoenix Construction company, have a total of 2424 employees on their payroll j and the salaries and payroll money dis-i dis-i tributed by the companies annually throughout the territory they serve in Utah. Tdaiio and Colorado amount to $1,629,200. In excess of 46 per cent of the total earnings of the companies Is Taid hack to employees living in these three states in salaries each year. The affairs of the Utah Power & Light company are directed by a board of directors composed largely of local members, mem-bers, the personnel of the board including D. C. Jackling. C. L. Groesbeck. TV. S. MeCornick, C. W. Nibley, P. J. Moran, M. S. Browning. T. R. Cutler, C. E. Lcse, John M. Haves and General Bulke'.ey ' Wells of Telluride, Colo. |