Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1928-04-13
Montana Power Will Merges
Jo ID. Ryan Issues Statement

just completed. ana the members OF the
board OF directors of the Montana Power
company n myself recommend its ac-
ceptance by our shareholders and viii
accept 1t for our own holdings.
Under an offer made by Bonbright &
Co, White, Weld g. Co, and the National
City company. stockholders who deposit
un.er the plan Will have an opportunity
to sell the American Power n Light
company special So preferred stock to be
received by them at a price which will
yield approximately Sl66 in cash for each
share of the Montana Power company
stock SO deposited.
The Montana Power company, organ
lied in 1912, is itself the result of the
consolidation of a number of smaller
companies owning and operating hydro
electric units INC furnishing power and
light to Industries and communities
scattered more or less over the state. The
consolidation. with the development Of
the large water powers at Great Falls,
Thompson Falls and Hotter, and the
knitting together witt an extensive sys-
TEN of high tension lines, has proved to
be of great importance to the upbuild-
ing of t~he~state. the fostering of its in
dustries and the comfort and convent
enee OF its people.
''The capital expenditures have been
large and the returns up to the present
time reasonable, but the very important
program Of expansion now confronting
the company in order to serve properly
the requirements due to the growth of
the states industries, makes it apparent
that the responsibilities incident to the
fuure development of the utility can be
better discharged by one of the great
utility groups of the country, with its
rrNDnf G.,n paf,I ,arAttpnnC nd tnnHnsaoN
stats competent to handle to the very
best advantage of the company and its
customers every requirement laid upon
it.
Other Mergers
1.-THE recent merger with the Washing
ton Water Power company operating in
the states of Washington n Idaho on
the west, meeting with its lines the sys-
tenn of the Montana Power company,
made the American Power and Light
company the logical concern with which
to affiliate.
&c. 2. Mitchell, chairman of the board
of the American Power and Light COM
pany has been a director of the Montana
Power compan since the date of its or
ganization and for many years before
that time a director Of the Butte Elec-
trical and Power company.
He has been at all times a strong adj
vocate of the greatest possible develop
ment of the company's facilities in the
state of Montana n has always been
intesely interested in the welfare of its
people.
Most of the important holders of the
Montana Power company stock will &C
quire stock of the American Power and
Light ompany in exchange for their
holdings, rather than cash. l intend to
do this myself and to retain an active
interest and direction in the operation
and affairs of the company in the state
Of Montana.
No Management Change
THE local management will continue
as it is and the people of Montana Will
have the same people and in the same
relations, to Dol after their needs Tor
light and power and service.
1.-The development Of the water powers
of Montana has been a great Joy to me
and its success q source Of satisfaction,
1 hope that we have discharged our du-
ties and responsibilities to the people OF
the state in such a manner that they are
satisfied, but / must say in fairness to
myself, that the expansion and develop
ment of the power and light business IN
the state has grown beyond personal di-
rection and must be carried on by q great
organization equipped to get the best
results.
I'm his campaign of greater expan-
sion and development I and my associ-
ates will continue to direct and exert
every effort and influence toward the &C
complishment of the greater good for the
state of Montana and its people.
! JOHN d. RYAN"