The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-04-30
RAISES MONEY TO
FINANCE SCHEME
Salt Lake Public Service Conf
pany Now Wants Original
Franchise Extended.
WORD Is RECEIVED
FROM J. j. CHAMBERS
1t Is Claimed the Company First
and Last Will EXpend
S3,0O0,0 900 Here.

Word from the east is to the effect
| that j. j. Chambers, promoter, has sue
ceeded in financing the Salt Lake Pub
| lie Service company and this concern
undoubtedly will be granted an cXten-
sion on its franchise which expired Oc-
tober /, last year. This means an ulti-
mate approximate expenditure of $3,-
000. .000 in and around Salt Lake City, it
Is confidently asserted.
This developed at the meeting of the
city council as q committee of the whole
Thursday evening, Mr.. Chambers. rep
rescnting The company, has been IN the
east for some time trying 10 finance the
concern. being now In New York City,
and that his efforts have met with sue
cess is pretty evident from the follow
ing telegram from him TO Mr.. Black,
chairman of the municipal laws com
mittee, received Thursday:
''Have closed contract for money TO
complete plant, contingent on heating
franchise being passed. Can You assure
me by wire today that franchise will
he passed Monday night. conditioned on
our filing $50 900 bond guaranteeing full
fillmcnt within thirty days?'
Before the Council.
Mr. Black placed the telegram be
fore the council aud the city attorney
was instructed 10 have the franchise eX
tension ready for Monday night meet
ing of the council. Mr.. Holley insisted
that The company. in allowing the fran
chise TO expire, had forfeited It's bond
of $4,000 TO the city, but this was not
taken seriously. The sense of the meet
ing appeared to he 10 encourage the
project in every possible legitimate way.
John c. Hornung. engineer for the
company, appeared and answered ohlec-
-. Ill . l.
tear up Main street 10 lay It's mains
after that thoroughfarc has been sur
faced Mr.. Hornung said he had re
ceiyed a telegram from Mr.. Chambers
Thursday similar to Mr.. Black s and
that while be did not know Just how
much money Mr., Chambers has sue
ceeded in raising he is confident that
it is sufficient TO carry Out the com
pauy's plans. OF least so far as the
city is concerned. If the extension is
granted the company will file $4,000
bond and viii agree TO complete the
laving of the street by July ], which
will be before the resurfacing is done,
Mr.. Hornuug said. Mr. lIornung also
gave the assurance that work will be
begun within ten days after the money
is secured.
Mr.. Hornung further set forth that
the company has already spent in the
neighborhood of S125,000 in Salt Lake
City alone and if il is given the fran
chise it will expend in the neighbor-
hood of $3.000,000 in and about Salt
Lake City. The company is willing 10
abide by any reasonable restrictions
the city may impose and the work viii
be done under the supervision Of the
city engineer if the franchise is granted.
Original Franchise.
The franchise on which renewal is
desired was originally granted TO the
Citizens Heating & Power company
and was renewed several times. It pro.
vided for the laying of four miles Of
mains within the life of the franchise
and this Will be embodied in the re-
newal. Under the extension the city
Will also reap a neat little revenue, it
is believed, the company agreeing to
pay the city ! per cent of its gross
earnings for the first five years, ID per
cent for the next five years and per
cent. annually thereafter.
The company also inherited the Man
lev & Curtis franchises for light and
mower. which have not yet lapscd, but
it is understood that they will be al
lowed to expire without renewal and
that the company viii lay hot water
Mines only