Show I I ORGANIZE NEW NE POWER MERGER I Electric Corp of Maine r F Takes Over Utah Idaho Units NEW r nw Yol-ul Yol Much Murch U 18 tn 13 In Incorporation In Incorporation corporation of or tho the Electric power LIght under the Ibo 9 l w of Maine to 10 take over tire th 4 assets of the tho Utah Securities lIon corpOr di aswell suell os as s tire tho common stocks stock and nd cot cot- certain lain tain other securities that thai aro now flow 0 ned hy by tho Electric Bond and Share company of the Now 1 Orleans Orlean Public Service Son Ice Inc Ide the tue D lIal Po losser and Light company the I D DIlas Dal Dallas las Ins Hallway ay company tho the Texas Tc Interurban rall a railway and 11 t e lo er Securities the la last t named o 1 nil the tue com corn common cornmon common mon stork and certain other securities ties tics of the Idaho 10 er company Inns announced here horo I Tho The new will have hace on no nut d C Ca capital piled stock I of GOO SOO shares thares of ot cumulative 7 I pe per share preferred J 20 O O shares shores of cumuli 7 51 7 per share non non second preferred stock and 2 i shares shale o of com cern common common mon stock nil all w without par pir value lIe he companies III be bo held by the tho new now companY public utility service In communities Including tho 0 ot Ne New Orleans Lo La L Dallas Dalla Tx Salt La Late Lake o and nd Ogden 0 den Utah Uth Dutan- Dutan go and Cob Colo and Bo and Idaho rails Ida Idl The electric transmission line lines oa 0 n nell and operated aggregate mIles I and electric distribution Sst l 11 mile Under the provisions of at o lire lh plan the utah Securities corporation edit dIstribute to th the holder of ot each Mch share of its capital flock stoel I 10 0 In Iii cash plu plus pius four tour shares of or the COOl com common mon stock tock o of the new OW corporation The Tho dIrectors director of t c Utah SecuritIes Securities ties lies corporation Thursday approved this plan subject to confirmation by stockholders at a special meet meet- meetIng meet inc log Ing to be b called ca later latr t rAil lal pc h SALT LAKE March 1 12 The Th organization and atrue- atrue tuie I tUI e of the Utah 10 el 5 Light company Y Is not affected by the taking over OHr b by the Electria Power 10 er Light Corporation ot of the hold hold- holdings ings logs of ot the tho Utah Ulah Securities cor- cor corporation corporation cor corporation Ine In Now Ner York an officer of at the tho Utah Uth Power 10 er S-LiKht S Light LI-ht company mid aid here lucre today In taking pier over 0 er the stocks and o of tho the local company and of the other oIlier utilities lie in other of at the Country are arc stated to 10 bo be boIn on In a sound earn earn- earnIng Ing basis a financial Is assured I ch In turn assures assure to the tb corn com compan com pan panics loa ita stability and sound credit this power tr company said This It was stated s gro out of ot the fact tact that the tho holdings of the new company are areso areso r so o greatly greally diversified It Jr was pointed out that this added finan finan- financial financial cial stability will Ill bo be a asset to the Utah 10 Power er A Light Ll and to the I It sen serves e in o of the lh future futuro growth ro Nth of oC the territory served with Ih the con con- constantly con constantly Increasing dem ud f for tor r cap cap- capital cap cIP capital ital In greater and eri r for tor new plants and to meet the th demands for su ce 00 |