Show INDEPENDENT IN LOCAL SYNDICATE T Telephone Company Stock and Bonds to Be Taken by Local Capitalists E. E B. B JONES JUNES HOME AGAIN a a- a Returns From Successful Mission Mis- Mis Mission Mission sion to New YOI York k Talks 1 of Company Plans Ou On OIL his IsIs return from Rochester Hor N. N V. V Wednesday oy Managing Director hl el JI H. H Jones t of the LLda In Independent Tele- Tele company announced that unit he ha 11 has d the thc release of or bonds Ull and shares of or Mock of or the company com coin pany from the United States Slates Independent dent Telephone Ho JIo also gave jU out the Information that a u local syndicate syndi syndi- cate will iII be ic e formed III In tho the near i to take lake O over I these bonds and shares of i i stock toek Although ho un declined to an announce nfl i mer the tic names of or the men who L form this syndicate atc ho lie suld said that thc they would be lie some seine of the tile leading and mo t Influential capitalists tM of th the OR ell city UIl and r state s.- s. Mr Ir Jones has lias been trying for fOI 1111 than usia a r e to get ct the tho bonds Into the th hands h of loc local l people Eal ly l In iii January Janu iH ary ho started for Now New ow York the headquarters head quarters of the tho United 1 Slates compan to make malc arrangements for the l' l release r of if the thc bonds which that company held The Tho ho lice day before he lie left Salt Il Lul Lake c WOI word was i d that lint nc negotiations were cre un under cr way y whereby the lie holdings of tile the United Stales Independent company were wen to Ia pass s him Into the lie hand 0 of the tile Bell Hell Telephone company These arrangements t placed the tho lie stock KluI a and hun bunds s of tho lie local Jucal In Independent nt company compau in Jeopardy because US if it the lie transfer t cut v through the thc Independent IlI company would pass Into tho Cue hands of tho lie Hell company compan Its Us competitor nn and would consequently be c disorganized e ansi and destroyed e 1 Marl Storta for ur or Mr Mt J Jones to tJ New Jew ew Yur York to get geL mi Injunction served on lie tho proposed deal According to tu his lis statement Wednesday Wed J l. l ho Intended to ask for fOI the lie In iii Injunction jun junction front the tue Ic Federal court un under the tha provisions pro of the tilt Sherman antItruSt antitruSt antitrust anti antI- trust law Jaw which prescribes cli that lint no nu corporation cor cor- shall bo lie allowed to get ct control f of a n commodity or pu public utility fur foi the purpose of creating n a monopoly on that commodity or 01 utility When In ii arrived In Ii New York however however how how- c cr ever r Mr Ir Jones Joncs found foun that there was a stale state Jaw law which was 41 similar liar in iii Its Ils nature na na- turn ture and operation to the Sherman law I Together with representatives of other l independent concerns whoso whose bon bonds were cre In iii the tue holdings of or the United States compan Mr Ir Jones Joncs asked 1 for forand and w was WIlS granted a temporary injunction on on the Bell company which prohibited them from rota inking over the lie United States company's hol holdings ln s. s as f e plated plate Later this injunction was made permanent h by the Supreme court of oft J. J i t 4 k d. w Y York state tc j. j J s 's I 1 r iest-r cr of of Sc ivI 1 f When ICIl asked c as aM to wh why lie Hie United S Stat States s company was anxious to lo pose dispose 1 I of its holdings Mr 11 Jones said al that through Injudicious Investment l the company W was lS In un embarrassed Hd con condl- condl l- l r T tl lion n financially and the lie transfer was WOH looked upon a us th the lie bc best l of several evils evil t e to choo e. e As AtS the proposed merger of th tho n Bell ll and ontI the thie Independent interests I. I would toutI mean lan tho Ito destruction of the Bells Bell's it est competitor that ihal company corn com P pany II was vas mote lilOte than anxious to put pUl the theA theS A S d l through h and it Il mn made e a very flat flat- tt offer for Cur UI the hc holdings of the thc Independent Int In- In t dependent concern The rue Injunction procured pro pro- cured through h lh liv instrumentality of I ihu CW York attorney general blocked 1 L' L th the I The ilie United States Slates tate company will now 1 L release e Us Itt securities lo tu the IC different L I Independent companies of or which the lie local concern Is ojie one and iiii will In all bl y II h Its Us operations t to I the he business bushle li The Flie com coin lilU owns the lie Carlson y- y phone Manufacturing company compan one of or the lar largest ci of H Us Its l kind in the Die world J and It Il will sill hold an au Important l place In Iii Inthe lh the lie Ic telephone world without i In lug Ing lie Iho bonds of the lie companies which h It hub litis handled Mr Ir Junes who I is managing director ef ur th the IlI Independent Telephone 4 conn all any it slated that the lie Butte plant W aI i 1 be lie In iii operation The rue Utah II l ClIl an und and the lie In dil J ill t Lie be- operated O under I an whereby each cach will Vil U I thi lh the I U lines hues and so o 0 subscribers of or It lir i l i 1 company will soon bo lo able ablo to talk nih to lo aLl all If p parts of or Idaho and aini Montana u l it w li I IU as us In Utah |