Douglas daily dispatch., 1928-03-10

Col. H. w. Hamblin, Representative,
OF the Peoples Power and Ligh
company Of New York, who has beer
In Douglas for several days negotiat
ing for the purchase OF the new
electric plant in Aqua Prieta, anC
who, on Thursday, granted an inter.
view to a representative of the Dis
patch, yesterday took occasion tt
charge that the statements made ir
the Dispatch were incorrect in sew.
eral particulars" A written statement
brought to the Dispaccn by Colone
Hamblin accompanied by YgnaciC
Soto reads as follows:
"The article in this mornings Dis.
patch was incorrect in several par
ticularS.
i ut should not have said negotia-
tions which both parties to the deal
believe will be favorably terminated
are UNDER way That is not true
I (Col. HambliD stated that I was
negotiating and that 1 hoped for a
successful termination. I could not
speak for the other parties.
'The paper states that the details
of purchase have been agreed on
This is incorrect as nothing mas been
agreed to. stated to the representa-
tive that I was negotiating with the
owners of the Aqua Prieta company
and while no agreement was reached
I hoped one would be made. And
in any case tentative proposition
must be sent to New York fol
execution. But no agreement has
been reached and nc papers are in
transit to New York as stated.
"The article states that The
Arizona Edison company is already
hooked up with Aqua Prieta and it
will mean merely continuance OF
service FROM this side Whether the
new machinery will be retained or
whether dismantled,' is incorrect and
misleading since in case Of purchase
by the Arizona Edison company, it
will operate the Aqua Prieta plant.
"The statement that the investment
by the Aqua Prieta company in
machinery and equipment is 100000
to SOS, 900 is incorrect as the invest
ment at this time is largely IN excess
of the sum mentioned
/ That is the statement furnished by
Colonel Hamblin. Here is the state
ment of the representative of the
Dispatch who interviewed the colonel
in Room. % of the Hotel Palemar
Thursday afternoon.
When Colonel Hamblin admitted
the writer to his room, the usual
courtesies were exchanged and then
Colonel Hamblin was asked this:
Colonel, there is a report being
! rr0Io 11xy airOll1of0d fn nffnat ffo 4
YOU, acting for the Peoples Power and
] Light company, have purchased the
new electric plant in Aqua Prieta
and I wanted to know if you would
either confirm or deny that report.
All quoted statements credited
| to Colonel Hamblin are offered
with the qualification that they
! are his statements or the SUBJ
stance of his statements and that
/ they are accurate in the fact they
are given to relate.
| Colonel Hamblin replied to the last
foregoing question this or this in
! substance: There has been no deal
concluded because the papers have
! to be approved by the New York
office of our company. Negotiations
are pending and we have reached an
understanding as to the consideration
If it was all in my hand it would
now be concluded, but the New York
approval is necessary
"HoW soon do you anticipate the
deal will have the approval of youl
New York cffice?"
To this the colonel replied: "It
ought to be i'll about week. OF
course they might not be approved
We can't tell that until we have the
: approval But have strongly recon-
4 lnended their approval"
"Then you anticipate that they viii
be approved? Sc far as you car
forecast, there is reason to expect
approval and no reason to expect
the deal will not be completed?"
4 And to this Colonel Hamblin an
swered in substance: 81 expect Gheil
approval There is no reason, so fal
as I can see from this end that
might hinder the deal going through.
about what consideration is in.
volved in the purchase OF the Agus
Prieta plant, if you are willing tC
have that made public?"
"About 100000" replied the colonel
"Of that amount, what part WoulC
represent the machinery cost anC
other Investments"
! "Oh, from 100000 to $65,O0O," saic
the colonel.
"That would mean something lik'
$4,000 to $4,000 for charter anC
good will of the company. How doe
that compare with that item in sucl
deals in this country?'
''That is quite reasonable" replied
the colonel. "I've been handlin!
that sort OF business for years ant
my experience has shown me that i
exactly the same conditions as tt
charter rights were involved in thi
country we would find a lot of in
dividuals who would be out to maxi
us pay dearly when they got u
over barrel
Apparently inferring that the las
question had been prompted as al
indirect suggestion that the Mexican
people were difficult to deal will
on business problems, Colonel Hamb
lin tsok up the cudgels OF detens
of the people and government soutl
of the international boundary an'
said that he had been closely identi
|