Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-11-18
A COMBINE is IMPOSSIBLE
Utah Independent Syndicate Ad-
yised That State and Federal
Laws Prevent.
BOARD Of Directors Take Firm Stand
aud Declare They WIN Go to
Court for Their Rights.

never held such enthusiastic meetings
rs have been held lately, despite the
financial furry that is shaking the
country. In regard TO the transfer
Of the holdings OF tho Utah 1ndepen-
dent Telephone company to The Boil
Interests. the directors take deter
mined stand They win fight the
generalization to the last ditch, and
Lot until the court Of last resort says
they can have this company win they
Get control" This assertion was
made by Elmer .. Jones, Managing
director Of the company today. The
statement was made when answering
the question Of News reporter
concerning the story appearing IN "a
morning paper which quoted q story
published in the Rochester Demo-
crat and Chronicle.
MT Jones declares that aside from
the return Of $4,000. offered by the
controlling syndicate for an extern
sion Of Cts option until March l5, ace
CCmpauied by q letter stating that
the offer could not be accepted, neith-
en- De nor any member OF the syndi~
catt which recently assumed control
company has heard anything concern
ing the reported sale. There has
come mo- word from either the T.. s.
] company. the Bell company, nor
Il. L. Day e Company Mr.. Jones
says that he believes the transfer
ct tho l.. J. n. company To the Bell
interests has been made. but he de-
clares that they Will Tight Il until
The control rcverts to the syndicate
which has assumed control.
ROCHESTER, VERSION
Tho Rochester press report concern
ing The transfer is as follows!
Utah telephone securities and their
sale 90 4 T.. Day a. CO. OF New York
formed ,ne theme most widely discussed
in the financial district yesterday. Cen
teral satisfaction with the sale was ex-
hressed. and Il was said tnat the United
states Independent Tele phone company
had done well In getting rid OF the Utah
CONFORM. especially when the sale was
accompanied by the delivery OF $4,000
iI gold. aud New York draft for $50
900. making a total Of ss60.0O0 for the
property 1t was pointed out that the
negotiations between Managing Direc-
tor Elmer b. Jones Of the Utah COM
pany and the representatives Of the
{. 5, J. company for the transfer OF
the securities. were not as free from in
ierosilng features as has heretofore ap-
reard An Indication of tails Is afford
ed by the rems'rk by Mr.. Jones. In an
interview givent out by him in Salt Lake
city on Thur{day night last. to Inc
effect that ne Utah stockholders de-
posted an additional $50 600 for an ex-
tension ~ NJ option until Jan. 10.
AccordiuCt Co what Jones said when
ne was in fJoc1ester IN July and Au-
susL Il w not expected that there
would be aty need for an extension of
me option. IJoncs said that be would be-
,e'dy 10 cafrry out his part OF the doal
,ong heforel the u. $. I. company would
pc ready IIhat was In July. ana the
'fuon was % expire on oct. ~, IL being
'A press'y stipulated that II the 5000 600
wy not IIaid on or before Oct. 10 The
se'.o0o pal for the option was 10 be
FORFEITED. The securities OF the Utah
ptny had been pledged with INC
l''' hesio1 Trust a Safe Deposit com
lthy portion OF the collateral FOR
~. f-oo 0o H. 5. J. short-term note
ahI I'D order 10 make the sale
~ zones possible 10 was necessary 10
I'ltln III assent OF the noteholders
zones urfed that action Do as prompf
~ because his friends in the
g.,, lelo"' could hardly wait 10 get me
ALL liE AssENTs OBTAINED.
The work or getting the assonts WA
lmediHtcly and was carried for
LIoush tne office of satt rice.
ASiof a. French. with great
Az ot the asscnts had not
,n lined when the second rs psr
.t or tho principal that was paid on
became payable, and the mat
or ptlolns thc asscuts was taken
'I Pc Rochester Trust g. Safe De-
Il Cd