OCR Text |
Show Telegram Verifies Power Ruling Considerable confusion resulted result-ed from our report from New York last week that bids for the purchase of the Southern Utah Power company holdings had not been satisfactory, and that re-organization of the company had been ordered by the court. A report re-port from the REA at Washington, Washing-ton, D. C, the next day, seemed to refute the report from New York, and a report from Mayor Gronway R. Parry, when he returned re-turned from the east, also indicated indi-cated that the first report was erroneous. A telegram from Nathan A. Smyth, trustee for the company, indicates that our first report was entirely correct, and denies that an extension of time had been granted. Mr. Smyth did indicate in-dicate that if any further bids are received by August 9, the date on which the reorganization reorganiza-tion would be completed, they would be considered. Mr. Smyth's telegram reads as follows: "No extension requested of or granted by the court, but under the reorganization plan as confirmed, con-firmed, any bild received by August Aug-ust 9 can be considered, since stock cannot be distributed prior to thst date. Nathan A. Smyth." |