Show IRA RATE TE HEARING CONTINUES The public service commission Friday In its rate case against the Utah Power and Light company attempted to show that a utility company valuation of approximately approximately approximately placed on the electric property was not in keepIng keepIng keep keep- ing with a commission n valuation placed at approximately The hearing being conducted Inthe Inthe In Jn the governors governor's boardroom at the state capitol featured cross examination examination exam exam- of R. R H H. Jones power company com corn pany secretary and assistant treasurer treasurer treasurer treas treas- by Warwick C. C Lamoreaux associate commission counsel Property Value Testimony showed that a value placed on the Utah and Transportation Transportation Transportation tation company property which is leased by the Utah Power and Light company by Benjamin L. L Smith an east eastern rn engineer engi eer who made a stud study for the commission was around Mr Jones placed the value at approximately The difference was attributed to fluctuating values of of- electric and transportation properties of the transportation company since acquisition by the Utah Power and Light company in 1913 The testimony testimony tes tes- tes showed that the revenue of the transportation company in 1913 was 53 per cent of the power company revenue In 1914 it vas was 55 per cent the figures based on the so called so Niles Niles' report showed The power company revenue likewise was shown to be 45 per percent percent percent cent in 1914 Refinancing Proposal During the hearing late Thursday Thursday Thursday Thurs Thurs- day afternoon Samuel Joseph of the federal power commission who was loaned to the service commission for this case suggested suggested sug sug- that the Utah Commission might wish to hold joint hearings with the securities and exchange commission before whom is pending pending pending pend pend- ing a refinancing proposal from the Utah Power and Light com corn pany The matter came up when figures figures fig fig- ures pertaining to the refinancing were reported Mr Joseph asked George M. M Gadsby president and general manager manag-er of the U P L if it he didn't think the S E C would be interested in the company's expectations expectations ex ex- with respect to its federal federal federal fed fed- eral tax liability Mr Gadsby replied he could not testify as to what the S E C might be interested in |