The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-04

GLOW to Observe the Sabbath Day.
Apostle Heber j Grant will tell
"What June 81, 1911, Means to
Utah. The singing will be furnished
by the tabernacle choir.
Sunday evening the closing session
will be held b. II. Roberts, win lee
ture on Higher Criticism" A mu.
steal programme will be furnished by
the Granite stake NJ. |. A. choruses.
company he sold subject 10 the mortgage
now existing against the same, or on
the contrary, VIII the Hen of the mort
gage be released upon sale of Che prop
ertv?
Answer. The property and assets OF
the company viii not be sold subject
TO The mortgage, but. on the contrary; contrary:
the lien of the mortgage VIII be released
as TO all property sold.
Sale for Cash Only.
Question . VIII the bonds now out
| standing be accepted as payment of the
purchase price, if rendered?
Answer, The advertisement answers
this question The advertisement Is that
the property will be sold for cash 10 the
highest bidder. Therefore bonds will not
be accepted on payment OF the purchase
price.
Question 3. VIII more than one bid be
accepted from the same bidder, and IL
so. will the board give information TO
all bidders, after the FIRST bids are sub
To the end that others may bid III excess
OF the highest previous bid should they
choose 10 do so?
Answer Bids Will be received from
the bidders as long as a higher bid is
received. In other words. II is a sale at
public auction, at which one person may
bids Will be public and oral. so that each
person viii know what every other per-
sons bid Is,
Question / What assurance can you
flrr rhcr N.nyf-
gage against the property bid upon VIII
be released for any sum less than the
face value OF the bonds?
Answer. At the time of the auction
sale the company will have In its pos
session releases of the mortgage lien so
far as the property sold Is concerned
erty sold no matter what the bids on the
same may be, providing only that they
arc not disproportionate 10 the value OF
the property considering that the same
is being sold AT public auction. In other
words, the record tide 10 the property
viii be free and clear OF the mortgage
lien,
Property All in Utah.
Question s. WIN bids be received for
| the assets of your company now located
in states other than Utah. notably in
| Idaho?
Answer The Utah Independent Tele-
phone company owns no property IN the
state OF Idaho. nor does it own any, prop
erty in any other state except Utah, and
IN 'I Utah S Y You 'GSSEi' could have @ easily ascer-
tanned this fact by inquiring at the COM
panys office regarding this matter, as
the advertisement respectfully states that
prospective bona flde purchasers may
myes,lgate; this eompanys MP gS,e affairs at any
Question 6. Does the board intend to
| exercise the right 10 reject any or all
bids. at its discretion or on the contrary;
will it be safe TO assume that a sale will
be made TO the highest bidder a the
auction sale?
Answer. 1t is unnecessary for the
company again 10 answer question 6 as
the advertisement already gives the nee
essary information. The advertisement
states that all the property OF the, com
pany Will be sold 10 the highest bidder
for cash: provided. however, that bid
may be rejected |: the sum bid is dlspro-
portionate to the value Of the property.
considering that the same is sold al a
public auction. However, answering your
question again, the property VIII he sold
TO the highest bidder for cash. and un-
less the bid is ridiculously low. IL follow.
as matter of course that the board of
directors Will not reject the highest bid.
All on Same Footing,
Question {. Will bids be entertained.
If made by representatives OF a compet-
ing telephone COMPANY upon the same
footing as bids submitted by local par
provisions OF your franchises and main
tain telephone competition? Or VIII pref
erence be shown by the board TO the
latter class of bidders?
Answer. Each bidder Will stand upon
exactly the same footing. No preference
WIN be given TO any responsible bidder
over any other responsible bidder.
1t is not apparent that tho facts before
the bidding public are not sufflciept to
enable bids to be made advisedly or in
telligently, but nevertheless IL Is TO our
interest to give additional information at
any time. and we are pleased TO do so-
I regret that you did not see fit to make
inquiry on these different points AT an
earlier day. Our advertisement expressly
states that prospective bona fde pur
chasers NAV investigate this company's
affairs AT any time previous to the sale.
Therefore. any prospective bona iide pur-
chaser had a right to 20 TO oUr general
offices and secure any information noe
cssary to enable such person TO make an
| intelligent bid. The answer to this letter
will go into the mail this date. and you
| will probably not receive the same until
| the 5th inst. There has been long pc
| Rod OF ume open to YOU TO make the
necessary inquiries. and to obtain ade-
quate information. and il seems very
| singular that your letter making in
| uuiries sould not be received until this
| date. which is June 3. when the sale is
| to take place at 10 q. m on juno g.
II you receive this letter in time and
desire any other Information. it VIII be
a pleasure to furnish IL TO you. Very re-
WALDBMAR VAN CoTT. President,
Attitude Of Hammer,
To a Tribune representative Mr..
Hammer said Saturday night at 9
'cJock that he had not received reply
to his letter up to that time. In an
swer to the question, fWill you say
at this time whether or not you will
be bidder Monday?" Mr.. Hammer
said, 81 cannot and will not give any
information on that question at this
time I do not care to say through the
press whether or not ! will be a bidder
on the plant Monday forenoon
The sale of the Independent Tele-
phone company's plant was ordered ut
meeting of the board of directors held
Monday, May l. The deliberations of
the board at that meeting were made
public the following day. At that time
the reason for selling the plant was
given that under tho franchise the
company could not secure sufficient
revenue to pay its Indebtedness or to
pay u dividend.