OCR Text |
Show MINIMUM SERVICE MAXIMUM FARES Timely Thoughts On Traction Situation It is common knowledge that when the Utah Power & Light Co. as a holding company, took over the Utah Light & Traction Co. the full purchase price of that transaction was just $100.00 short of $1 million and that at the same time the properties of the traction company were written (up) on the books of the holding company at approximately $61 (six and one half) million. The public have been paying pay-ing fares on the basis of this inflated amount, plus additions later. Now comes the Salt Lake City Lines Co. and purchases most of the earning properties of the traction company for the miserly sum of $675,000 and we see no sign of any reduction in fares to the public. Our Public Service Commission Com-mission have long ago been approached on this question of a corresponding reduction in fares to the public and the chairman of the commission promised that the commission would take up this very important matter in the interest of the people they are supposed to serve. Patrons of the traction company are wondering when better service (that was promised by the operators) will be realized, but most of all they are beginning to smart under the same excessive fares when the capital structure has been reduced to approximately 10 of its former figure. Respectfully, N. A'. JENSEN. |