The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-07-20
MERGER
Of ELECTRIC
LINES IN UTAH
Electro Bond & Share Com
pany of New York Proposes
Consolidation Involving
Many Millions.
BRIGHAM TO PAYSON
ROAD ULTIMATE AIM
Deposit Made in Purchase of
Knight Property; Bamber-
ger Line Not Thus Far
Included.
BRIGHAM TO PAYSON
ROAD ULTIMATE AIM
T HROUGH its agents in this city,
the Electro Bond g. Share COM

pany of New York city, one Of
the largest concerns in the world
engaged in the development Of electric
power interests, will consummate one
Of the largest financial deals in the
history of this state.
For some time rumors have been fly
ing thick and fast concerning the con-
soidation of several Of the large cleo
trio power plants and traction sys
TENS Of Utah into one huge system,
which would have Brigham City as the
northern terminus and Payson as the
southern terminus Of the transportation
lines, and an immense territory in
light and power.
Deposit in Knight Deal.
The first proof that the rumors were
more than mere conjectures was fur
nished yesterday when it became
known that $4,000 had been posted
in local bank by representatives Of
the New York concern as evidence of
good faith. and, moro directly, as ac-
tually binding an option on the pur-
chase of the Knight Power company's
plants in Utah and Wasatch counties.
| The purchase of these interests is said
| to be one of the most important items
of the deal, involving close to $780,
600 for that property alone.
It is also stated that contracts will
be signed with the officers Of the Da-
Wis and Weber Counties Canal COM
pany for the purchase of its plant, pro-
viding an option can be secured through
the permission Of its $50 stockholders,
who will vote on the proposition.
Big Properties Included.
Connected directly with the deal,
when the proposition to form the mer-
ger was first heard of by "outsiders,' -
were, besides the Knight Power COM
pany, the power plant of the Davis
and Weber Counties Canal company,
and possibly its canal system; the Og-
den Rapid Transit company, the Mer-
chants Light and Power company Of
Ogden. and the FfBamberger Line" or
Salt Lake g. Ogden Railway company.
This list has, however, been altered
since the deal has progressed to the
point of pushing to completion the ne
gotiations for options on the various
properties
Bamberger "out of It..
Simon Bamberger, Of the Salt Lake
& Ogden Railway company, in speaking
last night of the report connecting him
with the deal, said:
CT wish that you would say that
the fBamberger Line is in no way
connected with the operations of the
agents of the Electro Bond and Share
company in this state. No propositions
have been made to me for the inclusion
of our road in the general scheme OF
consolidation. / have been partly in
| formed, of course, as to what is con-
t. te%9yP55'ted' p but up to date I am '0ut of
Tt was also stated last night by one
familiar with the proposed system of
interurban roads that the Ogden Rapid
Transit company, commonly referred to
as a part Of the "Eccles interests, !"
will not be included in the chain of
| IouuS anu power PidHtS' ue conCtI IL
which will finally proceed with the
construction of the roads will build
its own line to tap the territory tra-
versed at present by the Ogden Rapid
Transit company's lines, which extend
into Ogden canyon and also north to
Brigham City.
Long Under Consideration.
H. A. Strauss, the electrical engineer
who built the power plants of the Da-
Wis and Weber Counties Canal COM
pany and of the Merchants Light &
Power company, is the representative
of the New York company in this state.
Mr.. Strauss came to this city in CON
nection with the electrihcation of the
Bnmberger line and is now consulting
engineer for the Merchants Light &
| Power company,
Mr.. Strauss and Mr.. Bamberger were
the originators Of the plan for the ex-
tension of the electric lines south TO
Payson and north to Brigham City.
Many months prior TO the beginning OF
activities on the part Of the Electro
Bond s. Share company, Mr. Strauss
looked over the various properties in
Utah county and opened negotiations
for the purchase of certain lines,
These, however, failed. and the matter
was dropped by Mr. Bamberger.