Spokane Men Get $1,850,00 For Oregon, Idaho Power

Purchase of the W.C. Sivyer & Son company electric power and light interests in eastern Oregon. Central Oregon and western Idaho by the Pacific Power and Light company, a subsidiary of the American Power and Light company, was announced Wednesday by Guy W. Talbot, president of the Portland company. The purchase price of the properties as given by Mr. Talbot was $1,850,000. The sale is subject to the approval of the stockholders of the Sivyer companies, and to examination of title by the purchasers.

Three companies are included in the deal. They are the Deschutes Power company and the Enterprise Electric company of Oregon and the Grangeville Electric Light and Power company of Idaho.

In making the announcement, Mr. Talbot said tat two transmission lines will be built by his company for the Grangeville and Deschutes companies costing $175,000, making the total expenditure by the Pacific Power and light company $2,025,000.

Negotiations for the sale of the property have been quietly continuing for a year. The final action was taken Wednesday when Mr. Talbot, accompanied by officers of his company, closed the deal with W.C. Sivyer and his son, Bert Sivyer, at the Davenport hotel in Spokane.

The three companies purchased by the Portland interests will be owned by the Inland Power and Light company, a holding corporation, and operated by the Pacific Power and Light company.

The territory to be served by the consolidation companies takes in a large sweep of the southern Inland Empire. The Deschutes Power company serves the Prineville, Redmond, and Madras, Ore. country, The power plant is at Cove on the Crooked river, north of Bend. The company also furnishes domestic water at Prineville.

The Enterprise Electric company takes care of Joseph, Wallowa, Enterprise, Loatine and the surrounding country.

Includes Caman Prairie Towns

The Grangeville Electric company takes in the Camas prairie district, Grangeville, Nez Perce, Craigmont, Cottonwood, Orofino, Kamiah, Reubens, and Greer. The purchase includes the water companies at Nez Perce and Grangeville.

“We propose to build a $75,000 power line from Lapwai to Reubens, Idaho, through Culdesac,” said Mr. Talbot. “This line will connect with the Grangeville Electric company at Reubens. The work will start as soon as the weather permits.”

“Another transmission line costing $100,000 will be built from Culver, Ore., to Bend. This line will connect the Descutes Power company with the Bend Water and Power company at Bend.”

“The Pacific Power and Light company has felt for some time that a consolidation of the Inland Empire power companies was justified in that the service could be eventually linked together and better service given to a section that is growing now and will be so greatly productive. I cannot see but that the future will witness a great expansion in the Inland Empire and we wish to be prepared.”

The officers of the Pacific Power and Light company who accompanies Mr. Talbot to Spokane are Lewis A. McArthur, vice president and general manager; John A. Laing, general attorney; M.J. Wilkinson, assistant secretary and treasurer; and Mr. Schoolfield, chief engineer.

L.J. Simpson, general manager of the Grangeville Electric company, was also present. Frank T. Post, Spokane attorney, handled the legal end of the transaction.

The three companies sold have 354 stockholders. The Grangeville Electric Light and Power company has 172; the Enterprise Electric company 103; and the Deschutes Power company 79.

Directors of Companies

Directors and principal stockholders of the three companies are: Grangeville Electric company– W.C. Sivyer, president; L.M. Simpson, vice president and general manager; Bert L. Sivyer, secretary and treasurer; Charles McDougall, Spokane, and L.J. Smith of Grangevill. Mr. Smith is general superintendent of the Grangeville company.

Entrerprise Electric company– W.C. Sivyer, president; L.M. Simpson and Adolph Galland, vice presidents; Bert L. Sivyer, general manager, and R.J. Fursythe of Enterprise, general superintendent.

Deschutes Power company– Adolph Galland, president, W.C. Sivyer, vice president; Bert L. Sivyer, general manager; Julius Galland and L.M. Simpson.

The stock of the three companies has a par value of $100 a share and has been selling at par. Mr. Sivyer stated the stockholders would receive a substantial premium. They may take cash in whole or in part; or preferred 6 percent shares in the American Light and Power company. The shares, however, may not be obtainable.

Final settlement will be made March 1.

Source: The Spokesman-Review ©1926

Related: Pacific Power Officials Come To View Plant

Leave a Reply

Your email address will not be published. Required fields are marked *