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Show NEW COMPANY BUYS LIGHT PLANT Parties representing the Utah Powor &. Light company, which company com-pany is a lecent organization baclccd by the Now York Bond & Share company, com-pany, were In Ogden yesterday afternoon after-noon and closed a deal for the Merchants' Mer-chants' Light &. Power company interests in-terests of this city. The stock has been held at the Utah State bank in escrow for upwards of sixty days pending negotiations for its purchase. When the company was incorporated incorpor-ated for $500,000, the entire stock was divided Into twenty parts, twenty twen-ty men taking the responsibility of financing the enterprise Since that time nbout $70,000 has been expended In erecting pole lines and stringing wire In the city and Tor other expenses ex-penses Incldontal to the establishing of an electric distribution system In Ogden Each of the twenty men invested in-vested about $3,500 The settlement yestorJay involved tho payment of $140,000. twice the amount paid in by the original investors. invest-ors. The entire Interest has been purchased by the new power com-pnny com-pnny and has been turned over Manager P M. Parry stated to a Standard representative this morning morn-ing that he did not know of tho deal being completed, nnd that, so far as the officers of the Merchants' Light Power company are concerned, there hae been no cnango and no notification no-tification had been given of the alo of (he stock. The management is 0-ing 0-ing ahead with plans that have been In force for some time, and no changes will be made unltl officially authorized. Both Mr. Parry and P. M Klin-, the latter connected with the engineering department of the compauy," were Inclined to deny that the sale, had been made. Under the franchise agreement with Ogden City, the company could not sell without giving the city an opportunity to puichaso the company's com-pany's interests, hut under tho plan of individual stockholders selling, it Is thought the citv cannot interfere, retaining only Its color of right to buy under the franchise issued to the Incorporators. In-corporators. .Mr Kline of the engineering department de-partment stated this marn'ug that it is quite certain that the Davis & Weber We-ber Counties' Canal company will have Its Riverdalo power plant completed com-pleted by the first of Xovembcr. anil that at that time the company will outer into contracts for the lighting I of homes and business houses in Ogden. Og-den. Trunk lines to all parts of the c'ty bine been built, and all thai Is lcquired when tho electric current Is at hand to light residences will be to connect with the trunk Hues with the house wiring. it is said that a great many places maj bo connected in u day and that It is likely that before tho w'nter is well "along, a large part of the resident resi-dent o and business district will be lighted by the new company. The recent purchasers, In all likelihood, like-lihood, will take charge or the affairs or tho Merchants Light & Power company N"o ember 1 |