The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-09-15
THE UTAH LIGHT & POWER CO

4 distinctly modern enterprise. en-
ployinG one Of the tremendous forces
of nsture. the control OF which IS hut
partially accomplished and its cha:1c-
ter by no means fully understood. this
company represents a variety or past
experiences, some of hem exceedingly
difficult.
Its history is quickly told. As now
organized il dates from Dec. 81. 1852.
1t is the result Of a decentralization of
the Union Light & Power company,
which had two years before taken over
the business and obligations Of the four
companies. viz: The Pioneer Electric
Power company. the salt Lake * OE-
den Gas & Electric Light company. tie
Citizens Electric Light company and
the Big Cottonwood owe company.
These four companies. representing the
old and the new. were tangled IN a
competition which mad crippled the
business OF each and all. It was az
parent hat the conflicting interests
must be harmonized or they would be
eventually destroyed.
The Union company found itself in
possession ~ a large AMI complicated
business that it in a measu"e brought
into harmonious relations, but IT was
loaded with bonded debts s:ggregating
81. 800 COO. 81 which $T5O.0e0 bore > per
cent interest and the b1lanCe 9 per
cent. as well as all of the operating
LlAdl q II LG-AA-A AAAADBE1A EAL ~
carry the load and the situation w9s
placed before the bOndhpldcrS- Tbey
finally asseDted 30 "A scaling OF tie
bonded Indebtedness TO S3.5ur .r@tp and
"A reduction of the interest rate To- 1 ler
cent on the larger part Of the SOnds.
the others remaining at = per 'cDt. Of
this amount $500, 0V0 was placed ~ tao
treasury to provide Tor new Cquipnient
and Immediate extensions. and author-
ity was also granted Tor q iuCtn@. ~
sue of 81. 100. 900 OF ~tredsury DOndS Tor
further extensions when nccrSs6r.- \
preferred stock issue was also inait 10
the bondholders concurrent with the
amount Of their bonds, the reSai. of TIE
arrangement being that about Jne-h"ii
the former interest charge Was payAbic
as such. but the dividend upon me
preferred stock. if earned, would make
up the difference. The present com
pany was organized to give erecc to
the agreement with a share capital
OF approximately the same amount As
the bonds. the common stock retaining
its former relations to the property;
thus the stock represented values con-
tingent upon the future success &c the
company.
The officers and directors chosen were
George O.. Cannon. president: john r.
Winder. vice president. +. -. NeDotr,
second vice president; l. : HIS.
treasurer: Joseph T. Smith. Jonn j.
Banigan. W. J. Curtis. ~. :. McCor-
nick and Rudger CiaWSon. directors;
lie Grand Young. general counsel, with
Robert 5. Campbell. general manager
and secretary and r. =. Hayward,
electrical engineer. as administrative
officers. Upon the death Of President
Cannon. Lorenzo Snow WIS elected in
his place.
In addition to owning the above
named properties. the company has
also leased the Utah Power comPany's
plant in Big Cottonwood canyon. FIX
elusive of this it combines 400 effective
electric horse power and Loo steam
horse power. besides a daily capacity OF
400. 900 cubic feet OF gas production. The
business covers sha two cities, aad ITS
operations are now well extended over
all Of salt Lake county. including he
Germania, Bingham and sandy sn1elt-
ers. for which il furnishes both lirht
and power. With the Murray and ,nany
suburban light lines. Its transmission
lines include shirty-seven miles from
the ogden plant and twenty-five miles
from the Big Cottonwood. There are
also 125 miles Of feeder service wires
already strung
Arrangements are nearly perfected
for the construction of "A scventy-foot
dam above the present one in the OS-
den canyon. which viii double the eff
feetive power of the Pioneer plant. This
may be undertaken by an independents
company in which the Power company
and the canal companies may join
forces. Failing in this. the Power
company VIII probably erect the dam
alone.
The present capacity Of the company
is becoming fairly we'll employed. al
though it mas ample resources for in