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Show Bondholder Advises Mayor oi Company Actions Definite word on the status of the Southern Utah Power Company Com-pany stock, disposition of which has been holding up development develop-ment of new power generating facilities in Cedar City, was received re-ceived yesterday by Mayor L. V. Rroadbent in a wire from Nathaniel Na-thaniel F. Glidden, one of the bond holders of the comapny. A report, elsewhere in this issue is-sue of the Iron Countv Record, reveals that the bond holders had rejected the bid of the Southern Utah Power Federation ft r purchase of the stock. Giving further information on this Mr. Glidden's wire was as follows: "Just talked to receiver Smith who reports amendment overwhelmingly over-whelmingly defeated, and says the new, board of directors are now in charge of affairs of the company. He further states that he is preparing decree for Judge Coxe to sign next week. I am confident ample supply of power is assured on account of plans being developed." Indications are that Judge Coxe will sign the decree definitely def-initely settling the issue, making It possible for the newly organized organ-ized board to proceed with plans foi installation of a new generating gener-ating plant in Cedar canyon. |