| Show BIG BI PROPER Y SALE MADE Union Light Power Company Sels Out Under For TO 0 TANGLES Attorney W U lole IoIe nd the lie roper I III fur for tIle Vials Light orr All the property ot of the lie PIoneer Elec Electric Power company the Salt Lake and Ogen Ogden 01 Gas and I Light company the Salt Ilke Light the mi Big Cottonwood oler company and this Lile Little Cottonwood Power company Wil was sold under the hammer lt at the wel west dor door ot of th Joint building at non noon on Saturday The Thea a auctioneer WA was Master S II H Lewis ut of the United Slat our The sate was wal the result ot of 1 a friendly foreclosure Emit flied IJ by the Farmers I Loan Ioan And Trust Truet company compan of at Se Now York to foreclose mortgages amounting to Oscar Olear W Moyle ole acting I its attorney for tor the LIght and Power company bid for tor the property this bing being the only bid lada made Chee were at the sale Col ColJohn ColJohn John It H Winde Winder vice president of at the Utah Light and Power Oscar r I W v AI of at the Irm ot of Young I Moyle Attorneys S 8 II H Lewis I und and HOI Thomas Mar Marshall I AhAI shall representing this the Trust j also I II I with his hla attorney I Mn Ir Van ln Pel Pelt As Mon soon al as Mr Lewis had hushed rading reading the description ot of the property which covered abut about four our columns ot of fine print In the News Mr Ir Van lelton on behalf or of Ii H L Driver Company Campan interposed a formal objection to the theBie Bie sale on account ot of a suit still pending In the courts against the old Silt Salt Lake and amid Ogden las nas and Electric Light cr corn pany to recover certain poles W wires pipe lines and other property which lie he caim The property Wi was al tell knocked Ilon IlonI to 10 Attorney oh on behalf ot of the Utah Light and who immediately deposited w a chek check fur or 60 made ulder under the order of oC sale made by Judge Juge Marshall some lome time line ago aKO This marks another step In the lie Jr neon which In Uon plans plana were vere begun New York sonie me Ur line ago and by which thus the Utah Light and Power Ohl pan reduces its HI bonded indebtedness the holders agreeing to a I ruc ton ion In the value lue ot of theIr securities the Interest on some being changed tram from 6 to 4 ier cent The next step to be taken by time the mali Light and Power company Is to 10 secured lurd I by on 12 Its entire property These bonds have ln been and signed for tor Ile some time and wi will be ely leaped after the formal ratification or of the lie sale by the States curt court t ut of bonds anti tock stock ot of thE Utah Ulah LI Light ht anti Power company wi wilt then be mode fur ur ot of the old company Judge Le GrAnd Young the alor attorney ne ney anti and Manager er n It S Campbell ar are arenow now In New York with authority to tul fully negotiate and wind up tIme the affairs ot of the old company compan The lIah Light and oer company I lit now In iii a prosperous with ls its affairs adjusted Thus Thu with the dawning ot of a new century I it lies has gol good reason to feel el assured that Il Its growth wi will continue commensurate wih with Ih this growth amid development ot of the State ot of b |
