Show HUGE MERGER UNDER WAY FOR WEST NEST Giant C Combination of Light and P Power Projects NealI Nearly Near Neal I Iy ly Co Completed r WILL CONTROL MANY I COMPANIES OPERATING I Underwriting Ul of Bonds and andi II i 1 StocK Is Already Com Corn f I Information received from au authentic I sources in la the east e yesterday sheds J much mu ne new ew light on ne v vast t project toI to I bring bring under one oue financial control th the tue majority of at hydroelectric power con coni cerna cerns in iii Utah Idaho Colorado and aud other states tate of ot the west The ent enterprise enter enter- prise it is 15 known will be financed and controlled ed by a syndicate headed bythe by bythe bythe the Electric Bond and Share company which is closely allied to the General Electric company a or so eo called electric trust trost and md Hayden Bayden Stone tone Co 00 both bothof bothof bothof of New York The Th plan paa lan inv involves lyell a gr great at earn running into eight figures Aside Ade Asi e fr from r ni m fin financing water power pr je ts in tile the west and ind securing control con ti l of a a great reat number of operating companies in this thi c section Hon the syndicate i contemplates extensive e immediate di t I power development nt extension on o of 6 ier- ier r- r vim and the opening up of entirely new hew territory a and d new V lines linee of busi bui- I II ness ens eM The syndicate according to the ro re 1 port has or organized the tho Utah Security corporation and has incorporated it under the lawn Jaws of Vir Virginia nia to finance fat water irater r power and public utilities companies com corn panie in In Utah and elsewhere in In the west t. It ba has acquired practically all un tho the Outstanding securities s s' s and ind physical prop properties of the Telluride Power coni company corn com pany and all the securities of tho the Utah Power ow r company compan which was ws re recently re- re centy incorporated in Ma Maine ue for for tb tile the purchase of tho Knight l ht Consolidated Power company the Electric compan company of of- f Provo ro th the Da Davis sand and V Weber bor Cou J ties Canal company's plant and the t team plant plan of the Salt BaIt Lake Jake Ogden railway at Lagoon These deals were consummated on Oct October ber 10 The Utah Securities e corporations corporation's present pres- pres pres I ent nt nt proposed of securities amount amount- ins f Sn z to year ten ten year 6 6 percent collateral collateral col col- lateral trust truet es and of oi tock stock toek ha haa ha- been und underwritten b by the hc mentioned above syndicate according to tottie the 13 Boston ston News Newa Bureau The first lu- lu o of 30 30 per cent o of tho the amount of or orthe the notes issued ha has already already- been called caned and at the present time about have been Issued and paid for The remainder will in be Issued from time to time as ae the corporation requires I additional funds These rhue notee notes are seC secured red by bv all of oT the stocks notes nottS and bonds of the operating companies controlled b by hr the Utah Securities ties corporation and will be further so- so cured b by all atra additional securities of companies com corn panics which may hereafter be be aC acquired the tIme proceeds of ot th these se not notes 8 1 The voting trustees s of or tho the Securities Sf corporation are lire S.- S. Z Mitchell president of of the Electric Electria ond and nd Share company compan Charles Hayden Hay Hay- den JC of or Hayden Stone Co James Campbell president of or the North r Ameri American American can cin com company an R R. E. E Breed president of the Gas Gaa and Electric company I Jol Joseph fph B. B Nutt Null treasurer of the Citizens I and Trust of ot Clove Cleve land Now Being Merged I AH 11 of ot the op operating properties arc are now floss being merged Into a new ness corporation t tibe to ti tobe be known as the tho Utah Power and Light company whose bonds and preferred stocks locks will m J later ate be sold and arid the he proceeds deposited with the tho trustee which will from time Ume to 10 time use such euch proceeds proceeds-ifor the retirement of ot this of or Utah Utah Utah-Se- Se Sc corporation notes by advertising ad for tenders and buying those note which which arc are offered at the lowest JOest price These notes are arc redeemable as af a u. whole whole whole-or or orin in part o On an any Interest t. t date at and interest and are In denominations of or 1000 and The Gu Guaranty Trust Guaranty Trust company com corn pany rany of New York is the trustee under the time collateral trust agreement The companies controlled d b by the Utah S Securities corporation furnish electric JI light ht and power service to a R. lan largo large e part of Utah and southwestern Colorado and also to southern Idaho The earnings earnings' of or the operating properties proper proper- ties for for- forthe the year ending June sd 30 31 un 1912 after eliminating gross s-rou charges were Groll earnings Net earnings i These earnings are exclusive of any revenue to be derived from the horsepower hc hydro electric plant of the Din Is and Weber eber Counties Canal company company com corn pany and from Jev several Important contracts contracts con con- tracts recently secured P nah Furnish Power Fower to Mines The rhe Utah Power and Light Lis-ht company concluded a power contract contract- with Ith he the Utah Copper ny company for all aU Its power ower for both mine and mill for tor a Ion long period of years V Time The company furnishes s a a. portion of the power poeT requirements of or the Utah Light and Railway company for for- street railway and electric light and power service In Salt Lake City car and O Ogden and aud all aU of the time power required by hy the Salt San Lake Lak Ogden railway for operating Interurban railway allway between those two 10 cities Power Powers Is s also furnished for or purposes purpose In n the rich farming and fruit and fruit growing sections of or Utah Extensive Immediate extensions of or power development and service arc aro contemplated to provide to-provide provide for V additional largo pow power r Cl contracts contract recently secured from rom other mining and Industrial enterprises In Utah and Colorado and to develop a a. new territory and new lines of ot business V |