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Show Federation Expects to Offer Revised Bid for Power Company Purchase Efforts to purchase the hold-1 ings of the Southern Utah Power company are still being made by the Southern Utah Power Federation Fed-eration and Cedar City,, according accord-ing to Mayor Gronway R. Parry. Any negotiations for the purchase pur-chase of the holdings will have to be undertaken before next Tuesday, August 9 at which time the stock will be distributed according ac-cording to a court order In New York City. Up until the time of the hearing hear-ing last week, no suitable bid had been received for the purchase, pur-chase, and the stock was ordered distributed. Tuesday, Mayor Parry received the following telegram from the trustee of the company in New York: "Referring to arrangement at close of Washington conference, I expect within a few days to submit revised proposal for pur-chase pur-chase price of Southern Utah Common together with earnings, data, etc. Nathan A. Smyth, trustee." trus-tee." If this new proposal is suitable, then the parties can go ahead with the arrangements and the stock will not be distributed. At the same time, Cedar City, said the Mayor, is still looking into the possibility of having a municipal power plant. Using the best engineering data available, according to the Mayor, the city should be able to net around $45,000 per year This figure is based on the purchase price of power at 1.2 cents and selling the power to the public at an average rate of 2:5 cents. This would allow al-low for the payment of all expenses ex-penses involved, said the Mayor, including office force, linemen, equipment, and servicing. Mr. A. F. Harung of the Burns and McDonnell Engineering firm of Kansas City, Mo., was In Cedar City last week to make estimates and recommendations on the construction of a municipal system. sys-tem. Full details of his investigation investiga-tion have not been released yet. |