OCR Text |
Show Sale of Telluride Stock Approved By Commission The Federal power commission of Washington, D. C. has authorized author-ized the sale by Telluride Power company of 3,000 share of 6 Cummulative First Preferred stock at a par value of $100 per share, according to word received by Paul P. Ashworth, general manager. The company plans to offer the stock issue directly to its present stockholders on a pro rata basis. Remaining stock, if any, will be made available to interested stockholders, stock-holders, employees and customers. The sale of this stock will provide pro-vide needed funds for he additions addi-tions and betterment to the company' com-pany' properties and plants to meet the rapidly growing need of its customers for electric service. Since the end of tthe war the company has spent almost three-fourths three-fourths of a million dollars in enlargements en-largements and improvements, and its 1949 construction budget, a-mounts a-mounts to about $275,000. "We are determined to see to it," Mr. Ashworth states, "that the electric power requirements in the area we serve, shall be met fully, and shall never be too little or too late." |