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Show Browning-Eccles Bid of $638,100 Is Only One Made Road To Be Operated Under Management of P. H. Mulcahy of Ogden; Faith in Utah County Reflected in Big Deal Into the hands of a group of Utah business men today passed the ownership of the Orem line as Special Master Irvin Arnovitz announced their bid for the railroad, now in receivership, was the highest offered, $G38,100. The new owners contemplate the continuance of operations oper-ations of the road as at present with no drastic change expected in schedule, personnel or general policy of operation. The sale was made before an interested throng of more &than 100 at the north door of city and county building. The ceremonies cere-monies of sale were brief; B. L. Ball, receiver, was present to bid the cash upset price, $638,058. but announced this court obligation fulfilled when George S. Eccles and M. A. Browning bid the higher figure at the first call. The court order directed Mr. Arnovitz to conduct the bidding here under appointment of Judge Tillman D. Johnson of Salt Lake City. Final confirmation of sale wili await court action, but it waa virtually certain that there would be no change. The Eccles-Browning Eccles-Browning bid was the only onu received olher than formal Ball offer. Mr. Arnovitz stated his report of the bidding will go to Judge Johnson in Salt Lake City tomorrow. tomor-row. The successful bidders immediately im-mediately tendered a certified check for SH3.810 at the first Security Se-curity bank here. Court hearing will follow Mr. Arnovitz' report at which time the sale will no doubt be confirmed. Thus, the new owners should be in control of their property early in February. P. H. Mulcahy, vice-president and general manager of the Og-den Og-den Transit company and general manager of the Utah-Idaho Central Cen-tral Railroad company, who will be vice-president and general manager of the new corporation, released the following statement after bidding was complete this morning on oehalf of the new officers: of-ficers: "After the receipt of the neces. sary approvals from the Interstate Inter-state Commerce Commission, it is proposed to operate this railroad property under the name of The Bait Lake and Utah Railroad cor-' poration. "The stockholders of this corporation cor-poration are ail locul people having hav-ing wide and diversified interests in Utah, Idaho and the intermountain intermoun-tain country. They are variously actively engaged in agriculture, livestock raising, sugar manufacturing, manufac-turing, milk processiig, coal mining, min-ing, railroading, canning, clothing (Continued on Page Two) |