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Show oo MEETING OF THE CANAL COMPANY W More than one hundred stockholders stockhold-ers of tile Davis & Weber Counties Canal company are holding a meeting meet-ing at the co'unty court house this afternoon to determine whether the company shall sell its electric power plant at Riverdale. Those present represent a large majority of the stock of the company The meeting was called at 11 o'clock but no action was taken on the question until this afternoon at 2 o'clock when the meeting reconvened and final action will not be taken until un-til late this eenlng. It required some preliminary work In determining determin-ing the question of representation of stock which, was determined by a credentials committee appointed by the stockholders This afternoon President E P. Ellison El-lison of DaAls countv stated to the stockholders that the board of directors di-rectors had received a communication communica-tion from F. L Dame, representing a New York firm known as the New York Electric Bond and Share company, com-pany, offering to buy the canal company's com-pany's plant at Riverdale for $525,000, the plant to be turned over to the purchasers as soon as it can be completed. com-pleted. The president said that the board of directors are In favor of selling at that figure, stating to tho stockholders that the plant when completed shall have cost the company com-pany $303,000 leaving a profit to the company of $102,000 President Ellison explained that because of the proposed merger of certain electric plants in the country' and possibly the control of car systems. sys-tems. It would not be an easy matter for the canal company to dispose of Its power and there would be some chance to take In the enterprise For these reasons he thought the company com-pany should sell the plant, redeem tho outstanding bonds of the company com-pany and turn about 150,000 Into the treasury. Tho only contract for power the co npany lias at this time, Mr Ellison Elli-son stated, was with the Salt Lake & Ogden Railway company for 500 horse power and that It might be difficult, under the merged conditions that are In prospect, for tho company to sell to other companies. It was said that the Riverdalo plant will not bo completed com-pleted before the middle of October |