The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-11-14
UNION ELECTRIC CO.
Inc Long Delayed Consolidation Is
Perfected at Last.
CLOSED UP LAST NIGHT
The New Company VIII Open Up Its
General Office Tomorrow-Capital-
ization and Operation of
the Plant-No Radical Changes.

When President George @. Cannon,
General Manager r. S. Campbell and
Attorney LIE Grand Young retired to
fheir slunnbers last evening, it was with
feeling that they had earned their
rest after long day of hard work, ac-
companied with satisfactory results
The labors of the three gentlemen and
their confeeres resulted in the transfer
of the properties and franchises of the
Pioneer Electric Power the Salt Lake
d Ogden Gas & Electric Light, the Big
Cottonwood Power. and the Citizens
Electric Light companies, to the Union
Light and Power company, according
TO the terms of consolidation agreed
upon, and to which reference has been
frequently made in The Herald the past
six months. 1t was not until after
nightfan that all the deeds of convey
ance were formally executed. but now
the documentary evidence of the trans
Ter are in the possession of the Union
company, Which will probably file them
for record on Monday
On Monday the new company will
open a general Office in the building
formerly occupied by the Templeton
cafe, and upon checking UP the in
Ventories and aDpraisements, will take
formal possession of the four compo-
nent electric plants. A branch office
Will be maintained at Ogden, the place
OF initial operation of the Pioneer plant.
THE STOCK AND DIRECTORS.
Although negotiations looking to the
consolidation were commenced last
May, the new company was not incor-
porated until early in August. The
capitalization is 81. $4,000, and the APP
proXimate valuation of the various
properties is stated to be $1,900.O00 for
the Pioneer cOmpany'S, exclusive of
100000 of preferred stock, 81, 100000 for
the Salt Lake 81 Ogden and Citizens.
and $4,000 for the Big Cottonwood
plant. The directors of the Union COM
pany are George @. Cannon. John r.
Winder, T c. Weber, L. S Hills, w.
). Mccormick, c. X. Bannister Joseph
T. Smith. Frank ]. Cannon and w. ].
Curtis. The first named is president,
and the last is a resident of New York.
The chief engineers are II. NJ. Jones and
r. e. Hayward of Salt Lake. and c.
x. Bannister of Ogden. The bulk Of the
stock is owned by Salt Lake parties,
besides those named.
OPERATION OF THE PLANTS.
Since the date of incorporation of the
Union company, each component prop
erty has been operated separately, but
on harmonious plans. However, the
Salt Lake Ogden concern has been
using as much of the water power cur
rent from the Pioneer and Big Cotton
wood plants since then as has been con-
sistent. When the experimental period
shall have been passed, and the ply
steal conditions and possibilities of each
of the four plants have been proved,
the successful operation Of the whole as
one will be an accomplished fact.
NO RADICAL CHANGES.
One Of the chief advantages of the
consolidation is the saving in operating
expenses. The management promise
not to raise rates. but to continue to
improve the service, both as to street
and commercial lights. and whenever
it is deemed consistent, the public may
look Cor slightly lower tariffs. The
pledge IS also made that the new adj
ninistration VIII deal fairly and
sduarely with the people. The policy
will he conservative, but progressive,
and the assurance is given that in con-
tradistinction to trust. there will be
no grasping. The Union company has
light and power to sell. and it will be
the aim to increase rather than to di-
minish the number Of patrons and con-
sumers already on the lists.