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Show IC01111LMAEA1S9?! Expresses Ills Yltws on the Gis Franchlsj Proposition. i nt: niY hioiiKii mil suumj. llio Old Uas Slock was .Sncrlllccil.-lbs Council Sow lltmlndeil of tho lad. City Councilman I.awson Is not In Ijo with thu Bilt l.l.o nnd OgJiu Uea nnd l'.leclrlo Mliht oomiauy, wbldi recently look bold of Mm Ilium, touting Unte lu tbli city and OgJon, nnd Is n pronouucod opi onel.t cf i,nn'. Ingnnexlicslotiof thu Irniicb'ie ta nikeJ. He has preparodja locumoul with his views ou llm sill Ject, and will file It with thu City Council tblsuvoL-lug, tblsuvoL-lug, i rovldlng tbo franchise iuttljn comes up as expected. It reada sa followi! ltcferrlr)g to tbo reiolutlon now be foro tbo City Council asking font tnout)-rivo yearo franchise to tie Bait I.nke nnd Ogden Una A l.lecttlc Light Couiian), cbluilng to be tbu lucccstors and uslgniis cf thuBilt Lal.u City Cos Company, and of 111 BaltLako Power, Lljlit aud Hcatlni; Company, jtrnilt mo lo giro a few iiasona why wo should make unite slowly In granting what la caked. Tbu oipltal atoclc lu tbo old com-I com-I any hu beld by resident prop. irly owutra of this lit, and tlio dividends paid wont lo build up ibis olty and Territory, wlteren lu this nuw cori oratlun marly all fie stock Is ownel und bild by lorelgln.ru, nil I tbo dltldetids as Melt as thu Intereit ou the bonds, lz:$IM,O0i) iirnuuum nt least, will ull go to L.udou nod Nuw Yolk. Why sliouU we, at tbe Inllilid prices they nro asking both fortes and v'eetrlc light, but rauru isccl(lly for elicttlu light, grant eucli a magtiltlceiit franchise, and for twenty-five years ahead Uu, and to straugeri who uu not vxi vet to epond mute In several jcars tbnn t.'O.OUO at tbe oulilde nmorgit the labirera an I workmen of Hilt Luke? Hi cam u what other moults they Intend to disburse In Improve-mints Improve-mints will all be lent Last for machinery. What concessions do they odor the cltletne, nud more especially tho city cjrporatlon, by way of return for such & valuable fiuuchltc? They ro aa. lug the city for something hat will enkble thim lo make uiaily 100 ptr cmt per moutli from nil con aumcis of gits and ulictrlci light; for goa that cnu be. . nude ul $1.-3 ler 1000 cjlito ftit, and sold nt moro than double lu coit, vlzd $2.80, Is a money maker of Ihehlglustordor, nnd it Is no wundir that men llku L. II. Itolllus ,t Hons, luukcrs, M Wnll btrstt, New York, nre nnxlouily nwalllug for thlifrnu. chlsu tu go through, so that the million dollara ot 23-yt ar 0 per cent gold bouda and tbo gold making franchise will bu dated alike; for It Is stated on "Inside" authority Ibat Ibeee bonds nre already sold at a premium $1020 being- ugrtid uon lor tach J1UU0 bond tbe (elf-snrna day that tho Major or acting Mayor of Halt Lake City attaches till signature to tbla new franchise. This matter will bear considerable con-siderable examination and ought not to bo hastily liglilatud upon by the City Council, If It h tho futuro v, elfire of our citizens nt hosrt. Another rtaeon why this high franchise fran-chise should not be given to this new aiidforelRn company l that tburo nro otbir companies (ono of whom has twenty millions at Its back) nnxlouily asking f enfranchise tofutnlsh us Willi gaaalll.ltt per 100(1 let. Now $1.50 ii ample, nnd Ibou thty can make n handsoruu rotlt, for tbu prisent cost Is $1.23 per 1000 f et, and Willi the latest methods whlih will be adoptid hero tbty lan male II lor less than 0J cents pr 1000 feet, and surely 00 cents li it splendid iroflt. This new big company, itickod nnd bonded for 2) nil lions uf dollars, lias all s rung Ir jut au original luvistmont lutbellaa comany of one huudred nnd II ty lliousaud dollars, made lu 1672 nnd '3, nnd which lias paid fair dividends right along (exctt the last 33 months ust), aud also accumulated k hnodsomo sur lus whloh has enabled it tOiirclioeinore thim two-thlrilt of tlio rlalt L ku i:ieotrlo Light company's com-pany's stock, aud to virtually own both comp.iuiei; if oourso the miner. abloUgden planlhad to bo thrown lu tu male bulk,iind to enable Homebody to rnako some moro money out of tbo "green l.ngllihiuiu," u Ibuy nre sometimes termed. Now wltli euch a record In the past as a mono) -maker, don't )ou think the bleeding of tbe cltlzena ought to atop right now, nud tbst this now company should not be allowed, or uven encouraged, encour-aged, lo larry ou Its scl'emo of taking out of Ibu consumers' 1 1 cketf, on thu first day of euch nud every moutli for Iheuixt iwentj-llvoyears, $2 In cull for only ouu dollar's worth ot gas or Lieclrlo light. Lit mu ssy further that thu original lUMstroent made lu 1H72 ol $150,001) In the Uu company ! now n sttudy earner of not less than $00,. 000 each aud evtry yiur; $lo,0u0 of this $90,0i 0 la from thu gas Iteelf, and tl u remaining $30,000 Is Ita prouoitlon (viz two-thirds) of the Klectrlo Light loruiauy' earnings ol $79,000. The writer of this communication lias buon Intimately conversant with the nir.lia ef tlio company almost from the biglnuiiig, nud knows where. ot he wrltis. I api eul lo thn City Coun. ill ns laxp jers themselves not to hnillly grant a franchliu of siloli magiilludo without lalui nnd lauful lullbt ration, and alio ok that tlmy dimnnd Iruin this nuw und fonlgn coriKjrotlon (for It Is Incorporated in throe dlllerent tljees Loudon, Now Jersey and Ball Lake) n huudtomo bonus of at Jetsl $100,000, which might help to relinbiirsu tbo city for having sold llsstock so cIium p. When the Ully Council bold for one hundred and fhulbousaud dollaia Its one-third luleii st (nearly) In tbo (lu. uonipauy, at $133.40 er (hare, that viry evonlng tticra stood on Ibo loom cl llio gas and electric! elec-tric! light conipiulcs, behind uvory rliaru of gas slock, llio net turn of $2Q2,cii In money that had been actually actual-ly luvestnl lu tho business, nd ra-menlber ra-menlber farther Ibat inch sbara was and Ise.irulnu 43 percent per annum dlvldiuds, but the illvldocds wire bold lack so as to, for (ho time belnir, seem to reduce thu valuo of thu stoik. What linatook worth that in ns II r cent nnd bis nu eighteen year franchise fran-chise yet to run, with authority lo charge the rubllo $2.60 for every 1010 eutlo feet of gat? Why It Is north JV)0 a abaro at leait, as I can get a banker In this illy to IcitlfIn ocu court It necessary. Tho city corporation piysO tier cent for Its moury.und nttbl. rule the stock would have (ecu worth $S0d a ilinru ninn Intereit eirutrto tho taxpayers, lopay thu Intereit nu tho city's bonds. And yet Its stock was lold for the isltry sum of 3133 a share, an I today, In this now compnuy, the city's uld stiarra ate eagerly biugbt, hruvlly bon li J and slorbed as they nre, for an aggregato of $077,77 a share, divided aa followi: tn Unto (0 per east). M'l It In prrierrc-l aliH-k (sand p. eeenl) ija II ia ordinsrr stock (S er ecal ssd more) 371 11 Total valuo of sseU shsro novr . . W7I 7t Kacli nud ovtry old shore cf gas stock (regardless1 of tbo owners) Is bonded nud slocked for the abivu sum. This will give you some luea of what Ibu ell) lost by si lllng Its slock. Tho new oiiuuany Is (locked nnd bonded for $2,SO0,00u, tlircc.tlllhs(.IS) uf whloh la In slock und Uo-lllllis (24) III bonds ma lu up as follow,: lls.eoniiaor.put Hal .. I V.CO Kit cirlo 1 ism eomiianr, pot It at... 4 w i, 0 UjJflll'I.Ll, lolilsl ... ),cwo ttonied ror... ....... tl swum lijtiilsj for .. 1 io.ixs) ToUl .... .... Uiw.ow The prtieut valuo of tho uld cai company's shares Is arrived nt ns follow,: fol-low,: eiss eompsnr .H . 1'to.ooo oo Ice e.M cuiueeri7's two tlilrd( VI ol the Flvcltis Uclil cum) an, ML IIW,IMJC....... ....... .... OjW.00108 Ttis Oss Artmi snr's pro oition of tlioiietr.twl.il.... tt.CK.'Mt 09 Asainlllloiiln bonds h '. of a ml imu at.l a ball in suirk, 10 Iseivr tli.reet nikloelirn- lldcd to us H Ttao lltlrds), . llieivlois ', of IIISJM I, CTT.;1, 0) tiae eonipso's proportion m sloets and l-on.l. ...... 1 Wl.lll 0 O(0en plsat soil K 11 eeu-le Until coiepsn HMM WJM 00 Total .lock and loads ......I S.M.OCO00 Ilrlng down tl o amount lu slock and bonds belougliu to tlio old gas corn-puny, corn-puny, nud divide It by lis capital stoik (MOO shares) und you lisv,. uj n retult theprrcliokmount fur wulcli tach oil shnre la slocktd nnd bondid shown In the following atntemonti Oss .bare. M5)....(ll 091,113) inni .hero Ttaa eur's sloek is iiotr lnileil sn I stiKkcd foe S.r,iM).oo aud It vt as sola lor Ilu0,0 oo. |