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Show STOCKHOLDERS VOTE TO SELL POWERJPLANT The stockholders of the Davis &. Weber Counties Canal company Saturday, Sat-urday, after holding an all-afternoon discussion on the question as to whether the company feoould ratify an option given by the board of directors direc-tors for the purchase of the River-dale River-dale power plant, voted in the affirmative af-firmative and the directors were In structed to proceed to carry out the terms of the option Many of the heay stockholders uere In favor of selling the plant, 1 while may of the stockholders having smaller Interests in the company were in favor of retaining it, the argument by the latter being that a plant that will net $73,000 a year.is a good thing to keep. The majority of tho heavy owners considered, however, that it . was a good sell on the grounds that the company would realizo something like $160,000 profit The terms of the option are that the price for the plant shall be $55,000, the first payment of $10,000 to be made at the time the papers of the transfer Rre shown to be satisfactory satisfac-tory to the purchasing party; $40,000 when tho title to the plant is proved to bo good and the balance, $475,000, at the time the final conveyance Bhall be made and the plant transferred to the purchasers The negotiations for the option were made by the directors of the canal company and one F, L. Dame of New York. It is understood that Mr. Dame Is representing a New York firm known as the Electro Bond & Shar6 company. It Is fald by the officers of the canal company that there Is no question ques-tion In their minds but that Mr. Dame Is acting in good faith and that the plant will bo taken over by him. If he falls to close the deal according to the terms of the option, he will forfeit for-feit $50,d00. no |