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


never held such enthusiastic meetings
ag have been held lately. despite the
financial furry that is shaking the
country. In regard ~ the transfer
OF the holdings of the Utah lndepen-
dent Telephone company TO The Boil
Interests. the directors take deter
mined stand They will fight the
generalization to the last ditch, ana
lot until the court Of last resort says
they can have this company. will they
get control" This assertion was
made by Elmer y. Jones, managing
director Of the company today. The
statement was made when answering
the question Of a 'News' reporter
concerning tho story appearing I'm "a
morning paper which quoted % story
published iu the Rochester Demo-
crat and Chronicle.
Mr.. Jones declares that aside from
the return Of $4,000, offered by the
controlling syndicate for an extern
sion Of ITS option until March Is, ac-
cCmpanied by letter stating that
the offer could not be accepted, neith-
err ne nor any member of the syndt-
cate which recently assumed control
Of tho Utah Independent Telephone
company has heard anything concern
ing the reported sale. There has
come nO word from either the L. ).
l. company. the Bell company nor
Il. l.. Day & Company. Mr.. Jones
says that he believes the transfer
OF the l.. T. H. company to the Bell
interests mas been made. but he de-
clarcs that they viii fight Il until
the control reverts To the syndicate
which has assumed control.
ROCHESTER VERSION.
The Rochester press report concern
ing The transfer is as follows:
Utah telephone securities and their
sale 90 4 l.. Day a. Co. OF New York
formed .ac theme most widely discussed
in the financial district yesterday. Gem
Noral satisfaction with the sale was eX-
dressed. and it was said mat the United
states independent Telephone company
. had done well On getting rid Of the Utah
. CONFORM. especially when the sale was
accompanied by the delivery Of S910. 900
lu gold and a New York draft for $50
600 making a total OF $3.50, 900 for the
property II was pointed out that the
negotiations betwcen Manaelng Direc-
tor Elmer b. Jones or the Utah com.
Rany and the representatives Of the
L. ,. J. company, Tor the transfer OF
the securities. were not as free from in
terosiing features as has heretofore APP
rcahd An indication Of this Is afford
ga by he RENE TX hy Nj. Jones. in an
interview giyeni out By him in Salt Lake
'lty on Thursday night last, to the
effect that the Utah stockholders de-
posted an adfditional $4,000 for an ex-
tension ~ ne option until Jan. 49,
'Accordingl TO what Jones said when
ne was In Rochester I'm July and Au-
gust, it Waf not expected that there
would De amy need Tor an extension OF
the option Homes said that he would be
ready 20 cqfrry out his part OF the deal
long hctorl the u. $. /. company would
pc ready (That was In July. and tho
opuon Wasl TO expire on oct. 10, il being
expressly Stipulated that n the $500 900
M.es not 1aid on or before Oct 10 the
so'oVO pa ~ for the option was TO be
IolIelted. The securities or the Utah
'pHuS . hhd been pledged with tho
-'''hestel Trust a Safe Deposit com
htHl a. portion Of the collateral for
.l, e-.oopl Ooo u. $. J. short-term note
ISSUE anft IN order 20 make the sale
~ Jones possible 10 was necessary TO
gDliln ~ assent OF the noteholders
."Hes urged that action D. as prompt
"s posHlflei because his friends In Inc
g o-'le,' oould hardly wait 10 get the
ALL THE AsSENTs OBTAINED.
The fvork OF getting the assonts wa
"'h uA Immediately ana was carried for
nt'd, Through the office OF satt rice
iilsselL kTaylor g. French. with rr.ot
HlZenci Al Of the assents had NOT
',n obtained when the second l5 me-
''ht OF athc principal that was paid on
nnleft became payable, and the mat
lr' or "a, bt1iaing the asseuts was taken
t- pF ne ltochcfter Trust g. safe DE.
post co mlnny as trustee u de ths
2. ,es. A II soon as the aescnts had been
p'lalhrdg Zones was notified and was
hIoctcl lisat le would come 10 Rochos-
ltr at on FL n accordance VITA his vol
Dlilg fatcucnt made in Ju y. 10 me
ltcct I'll hr would Doe ready 90 dH
nf Iartt o the agreement before Tho
l.o0hertNN people would De ready. am
.ao to be cfcat that to wanted M
Hlro ltter closed out before oct 1
l.H Jorcl did not come az once
hortHl before the expiration ~ tn
inr. ld.D pres left Sail Lake CITY fof
Hrrfo. Il viii % drlfl far au "a dillon
$1,000 hif pocket to.Ctlcr with
inquest fu. an extension OF the % lion
Dds rrr0 1iton Haa % rrr an ada
tNIaI fH.O ~ and Ect au .Et. Sion ol tha
orlH .o TAR pr o. rc'ut.u io thr ay-
Hnat no Sellooo0 to Dec. No. the prlvi-
son r0luUHlg ~ Mo p1 mont % o.
on0 ta liand thus making the total
m .m ~ pm Dcc. la No this was
H' rIti. 10 81 hD WaH pr pared o.
$4,000 Ior thc extension 0f the 5000
orl fhn tu NoV M. t.e nri ln
. 0t ro. tloUpcnnr The Payment r
..e ff'lf0IG rlHu1.
Rut Hh II Jones arrived boo Ch'Hg1
Do hrurhtV cOniHf no thH Wou.ur poe
0rF and Ih'N that only thc ann urco-
mont of th 1t slump u thc price
ile r0prclI t.riF hut ula0 thc au-
r1unccmo N 40 tho nHur. of the house
IN otto lpfnzo A. 600. an1 tne ni-
ultica of lFrltz AurueUs Helnac Nov
1 ho Ieuzlf have Cut quite "a hgur. boz
ltah Iu Ntuiof wpT and rntE tuuf'ua
tas lnic 4 el .n one of the Salt Iake
lty la II Thc 800 a. 0I Utah are
'iso ouitet af uccuffo .ol 90 GO ner as
metal al speculation BOZ e0nner milne
lg atocky ns people back east are o.
D. break Iiort foods
rms ffEOPOsITfON CHANGED.
Jones knew, a b. said. that with