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Show $2,300,000 PLANNED TO BE EXPENDED BY UTBH LIGHT AND RRILWKV CO. .1 The annual meeting of the Utah Light and Railway company was held yesterday yester-day at which time the old officers were settled over $20,000), $68,664.68, making a total of operating, general and main-' tenance, 2845,729.91. , The fixed charges, 1 interest and taxes amount to $376,155.77, ; to which may be added a loss and gain account of $13,869.90. . The net Income was reported $144,-486.32. $144,-486.32. This was distributed as follows: Redemption of notes, $50,000; contingent' dividend of 1 per cent, $40,000; depreciation deprecia-tion of property, $54,846.32. ; The net income is exclusive of expen-, dltures for the year in new construction required by the necessities of the day to maintain the system properly. ' The expenditures for new construe-1 tlon and equipment were such as were re-elected. .. , General Manager Campbell submitted ' his budget, showing that in the course of .the next two years $2,300,000 would be needed In Improvements. The report of President Smith In part is" as follows: fol-lows: ' Gross earnings . from all sources $1,353,362.10; operating expenses. $538,-400.83: $538,-400.83: maintenance, $238,664.40; general expenses (Inclusive of damage claims requirement by the necessities of the day to maintain the system properly. The contingent dividend of 1 per cent noted will only be paid In the event of the disposition of the $3,000,000 which the company Is negotiating to place on the market. 'The officers re-elected are as follow 1 President, Joseph F. Smith; flrst vice-; president John R. Winder; second vlce-i president, J. ,8. Wells; executive com-' mlttee, John - R. Winder, chairman; Joseph Jo-seph S. Wells, L, S. Hills; general counsel, coun-sel, Le Grand Young; general manager and secretary. Robert S. Campbell; as-! sistant secretary, Murray Shepherd;' treasurer, L. S. Hills; auditor, George S. Garmett. . -i |