Deseret Evening News | 1907-08-24 | Page 5 | Independent Telephones

INDEPENDENT TELEPHONES Ness v Corporation to 10 bo be Formed to IQ t Re nc Readjust adjust of ot Companies Official announcement is inn made do that the Uio committee of at tho the United U ted Independent of or and und the Uie Independent Tele T Telephone lc phone Securities Company has completed lt It its plan Ilan for tur cC a IL readjustment of tho the com corn companies affairs These are the concerns 11 I OKI which local people eo lo purchased ed tho bonds und anti stock of ot the tho Utah Uth Inde nd ent nt Telephone company and the likelihood likelihood hood Is I that If It the tho deal had beed till now tho homo home would have found round It Impossible to thu tho negotiation thin tion Actions will bo ho brought broucht l roul ht for tho the foreclosure of DC the tho of or both companies A J t new corporation will b bJ be organized under New York laws with u lL capital of ot to take over the tho ea so purchased The rhe how hew corporation will execute a new to secure a bond Issue of at thc tho th maximum amount of ot Y bearing 4 per Ier cent ceu t Interest for tor tao year C G per cont ecat for COI or tim the second year soar and 6 per cent thereafter Under this plan there thero will 1 of or these thc e bond bondu which will bo be Re se url by Jw pledge of all nil the securities now i wn I 1 by h the United States Independent Telephone Tol company anti and now no subject Ul to th Its c the thc stock tock of ot the New NewYork ew York Independent Telephone company nod nio 1110 by all oil the stock and bonds of the tho I he Independent Telephone company of ot Syracuse end the Homo Home Telephone phone com coin company Inn pany nf or Ullen Pika now no held by b the Iho Inde Telephone Securities company compan