Show ATTEMPT BY TOWN TOM TO BUY PIPE LINE FAilS I aletter The Moab Pl Pipe Line company in a letter lettel to the Moab town board last week eek offered to sell to the toWn its I entire hOldings for 10 at the rate i of 10 per share for its outstanding stock The Tha otter offer WM by the town board at a meeting l last st Thursday I The trustees felt that the 11 price ice was as far pipeline above the tho actual value of the pipe line but in order to effect a com com- compromise compromise promise on the local water situation an offer of 7 a share on the ing outstanding stock totalling was v as made President J T Learning and Trustee Ralph J Miller w v ere appointed to meet with the Moab Pipe Line company of- of officials officials in an attempt to negotIate a adeal adeal deal whereby hereby the town could take over the pipe line and male make it a part ot of the proposed new municipal system A meeting v was as held FrIday evening but the offer of the town of 7 per share was Voas definitely declined by the company Last fall faU when plans for a municipal pal water system were first made the towns town's engIneer made an appraisal ot of the Moab PIpe Line company's system v which he adjudged to be worth The town offered that sum for the thes s system tem but the offer was declined the present year the Moab Pipe L Line Lne ne company in complying with the instructions of the PUblic Utilities Commission of Utah that Us its system be made circulatory has expended ac- ac according according cording to Its own statement the sum ot of 2200 The town board felt that in order to effect a settlement of the water situation it could reasonably of- of offer ter fer for the pipe line whIch is about 1000 m in excess of its appraised value The definite rejection of the offer by the Moab Pipe Line company of- of officials who insist on a cash payment of for theIr holdings has apparently apparently closed the matter members of the town board state The town of Moab will now proceed with the con con- construction ot of its new system and ex- ex expects expects to advertise the project for tor bidders at once President Leaming of the to town ton n board states Even should the Moab Pipe Line company lines Imes be acquired it would be necessary to install a complete new distrIbutIng system in order to meet the requirements of the Public Works Administration it is stated The ex- ex existing existing lines would have only a salvage value |