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Show BELL PAYS ; $1,200,000 FORjlVAL H. Vance Lane for. Rocky Mountain Buys Indepen dent Telephone Co. ONLY RIVAL BID IS ' FROM BONDHOLDERS First Offer Is Balf Million; Secondary Franchises Not Included. - The aiuaet ty . af ' tha TJUb Indsf an dent Talephoaa rMBpany, without Its secoodary fraochlaea, waa sold at public auction this Burning to K. Vaaea Lena, rspTsaenllng tha Bocky Mouataia Boll Telephone compear, for tL900,00& Tha sale vat made at tha want door of tha Mtr and county building and was attended by ISO men. The only bidder ether than Mr. Laaa, who la president and general manager of tha Bocky Mouataia Ball Talephoaa eoav pany, waa Bonator Wekeles of Vow Tork City, rapraaoatlag tha Bagiatry and Transfer company of. Ksw Tork Olty, tha bondhoidars for tha Utah la-dependent la-dependent Talephoaa oompany. Tha auctloa waa ooadoated by D. B. Mackintosh, auditor for tka Utah lade-pendent lade-pendent Telephone eompaay, wko read tke formal notice of the sals and its conditions, aa published ia the local Bewapapors during the last few weeks. "How muck am I bid for the prop-arty prop-arty with the secondary franchises!" he asked, and then repeated the quee-tlru. quee-tlru. There were ne bids for the property prop-erty with these secondary franchises. ''How murk am I bid for the property prop-erty without tka secondary franchisee f" be asked. . "Five hundred thousand dollars," said H. Vance T-ane. "I bid 540.0(10," said rViator Wake-lee, Wake-lee, after a pause of a few moments, daring which the announcement of tke Bret bid by Auditor Maekiatoek was the enW interruption. This challenge waa promptly answered an-swered by Mr. Lane, and Senator Wake-lea Wake-lea ram back1 witk anther bid. This continued for several minutes, tka auctioneer auc-tioneer repeatedly calling for other bids, and giving the bidders a chance to figure for n moment between bids. The prices bid were increased from $23,0(10 to 50,000 with each bid, until the last bid of 1,100,000 waa made by Mr. Lane. The auctioneer gave plenty of time for a raise, but none was forth, coming, and after the lapse of a few minutes ia which ho waited for aaother bid. declared the property sold to Mr. Lane. Mr. Lane waa asked wbom he represented, repre-sented, aad ke announced that he had acted for tha Rocky Mouataia Bell Tele phone eompaay. Following tho announcement an-nouncement of tha sale, Mr. Lane tea-dered tea-dered to Beajamia B. Howell, secretary and treasurer of tho Utah Independent Telephone eompaay, a certified cheek for 1 20,000, u per rent of tha amount of the successful bid. A meeting of the board of directors of the Utah Independent ' Telephone company waa called to order at 12: IS o'clock this afternoon for the purpose of rstifvins or rrierting the sale. The sale was authorized by the board of di-rcctora di-rcctora of that company some time ago, but tba actual transfer of the property eanhot be effected until the sala has been formally ratified by them. Operate as Ooa System. Tha following statement waa issued at noon today by Preaidrnt Laae of tba Rocky Mountain Bell Telephone com- pony: Wa will consolidate tha two plants aad operate them as oae system, as sooa as conditions will permit. This roneolidatioa problem ia a much more difficult one than the public realizes from the mere use of tba telephone. "la tha meantime, to meet the requirements re-quirements of tho subscribers of both companies, it will be necessary to continue con-tinue operating both systems as though no change in ownership had taken plaro. "To kastea the consolidation, which the public has every right to expect, we are arranging for the services ot competent engineers, who have had experience ex-perience in dealing with like situations, to nssiat in this work. Kay Altar Bates, Too. "tin account of Increased number of subseriliers and increaaed investment it will be necessary to make some rate adjustments. We are studying the rate situatiou and will sooa be able to fix anon a schedule of rates that will be just, alike to the public aad the company." com-pany." Mr. Lane aaid ia further explanation that the engineering problems involved in the eonsoliilation of standards in equipment used by the different planta. These differences will he ndiuated hr a eorpa af engineer! waa have nam. led simitar problem aurrcasfully ta otber and larger eittea of the east. There will be ao immediate rhanjre in tha operating for? of tha fadrpeml rfit plant. He waa unable to aay what adjustment will be mad ta lha rat to BuheeribeTs to eaeh of tha services, bat declared that tha new rate will be eminently fair to both tba tubarribcrs aad tba opera ti a eompany. 11 |