The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1913-10-31
BEAVER RIVER SELLS TO RIVAL
Idaho Railway Light and Power Com.
pany Secures Property.

The Beaver River Power company
has been sold to the Idaho Railway
Light & Power company, holding COM
pany for the Idaho Traction company
The deal was made some time ago
and the first payment was made, and
is supposed, at about the time S. L.
Fuller, who is at the head of the trac-
ton interests here, Sinclair Mainland
and sNew York associates of Fuller
were here last summer.
The Beaver River company recently
changed it's incorporation in this sec
ton to the Idaho Power & Light COM
pany for the purpose, it is now UNDER
stood, of segregation that portion of
the Beaver River interests in this sec
ton from the interests of the Beaver
River in other sections of the country
and for the purpose of more readily
facilitating the transfer to the traction
interests of this city, which already
own the Swan Falls electric plant,
and which have a controlling inter-
est in the Idaho-Oregon Light e Power
company suit for foreclosure of the
bond mortgage upon which is now
pending before Judge Dietrich for the
avowed purpose of fully consolidating
that system with the other traction
interests here.
These facts became known during
the taking of the deposition of S. L..
Fuller, head of the bonding and bank
ing house of Kissel, Kinnicutt e Co.,
OF IA Wall street, New York, one of
the leading concerns of it's kind on
Wall street, hence in America. Mr.
Fuller is largely interested in the
traction properties in this section and
it was sought to take his deposition
while he was here to be used in the
foreclosure case against the Idaho
Oregon Light & Power company The
attorneys for the so-called minority
bondholders who are opposing the ac-
ton of the so-called majority, or New
York committee of the bondholders in
that company, in bringing the fore
closure proceedings with the avowed
intent of combining that power com
pany with the traction interests, took
the opportunity to go fully into the
financial transactions of the Idaho
Traction company, whose bonds it was
proposed to issue to the bondholders
of the Idaho-Oregon Light & Power
company in payment for that company
purchased at foreclosure proceedings.
Mr.. Fuller at that time testified to
the amount paid for the railway inter-
ests, the sum aggregating slightly
more than $3,500,00O. These figures
were given publicity at the time. 1t
now appears that he also testified that
arrangements had been made for the
purchase of the Beaver River Power
company, or what is now known as the
Idaho Power & Light company, and
that a part payment had been made.
What the total purchase price of
the Beaver River company's interests
in this section was to be has not been
learned. When the Idaho Power &
Light company was formed and the in
terests of the Beaver River Power
company in this section were turned
over to the new company, the new
company gave the Beaver River Power
company, which still exists for the
purpose of handling it's large holdings
elsewhere, bonds aggregating $500, 900,
and To Francis Noon bonds aggregat-
ing 100000. This is supposed to rem
resent the valuation placed upon its
holdings in this section by the Beaver
River company. but whether it also
represents the price the traction in
terests agreed to pay for it or not Is
not ascertained. Neither has it been