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Huge Holdings of Hamil-- ton Company in Process of Being T aken Over for $21,000,000, P r i m e Hydro Buying Dominion Powér_ Co., Mr. Ferguson Informs Legislature; Directors Say They're Surprised RADIALS, BUSSES ARE INCLUDED Hamilton Street Railway and Many Subsidiary Power Concerns to Come Under Public Owner-- ship--Details of New Management Not Dis-- closed Until Final Pact Is Concluded Announcement was made by Premier Ferguson in the Legislature yesterday that the Ontario Hydro--Electric Power Commission is purchasing the Domin-- ion Power and Transmission Company of Hamilton, at a cost of approximately $21,000,000. Mr ww nrnnnn cce As to the future operation of bus and ier |TA4Gi@l lines, and the Hamilton Street Announcement ht made 0% MCME iRaliway, it was learned that this gourd Ferguson in the Legislature yesterday be a matter of policy for the Hydro that the Ontario Hydro--Electric Power |Commission to decide in the future. At Commission is purchasing the Domin-- |present all efforts are centred upon . & 'completion of the purchase arrange-- C c it andt Tran't,n:)ifss;or;rxmggerg ments. Decision as to what will be done x %%?3)1(:0)" s C then respecting details of management s2}..'egis'latic'm. providing for the acquisi-- Of the various types of utilities taken tion, was brought down to the House OV°r is left to a later date. 9y Mr. Ferguson at the same time. The electric power services of the In this connection, a despatch Municipalities hitherto buying from the from -- Hamilton -- says officials of Dominion Power and Tt"'ansmission -_he company at Hamilton express-- Company will be "dovetailed gradually +d surprise at the announcement, Into the general Hydro system. This ind claimed the Board of Direc-- Will be a rather lengthy process, and had not considered any projected Will be achieved slowly, it is expected. ,ox'-s s egotiations _ were The same methods will be followed as faie, but adiniticd negobla that subsequent to the famous "clean-- uinder way. up" deal of ten years ago when the Another F°":":': Srtf'" bor @mapp,. ,,, . Mackenzic system was purchased. ] "Thie " eaj a Draomiar re 5 prdoudbinits® "This," sad the Premier, "marks an-- Furt other very forward step in the exten-- debts . sion and development of the Hydro-- T. Con Electric enterprise in Ontario. TRETE pjeipg] have been negotiations over a period Of jnto a years, and now the Power Commissi0n tjon of is given the right to develop and OC-- ent fre cupy a position in the Hamilton @And tackleq Niagara districts. It is generally rec--course, ognized that a great deal better eco-- Absolut nomic use of this development can be Abso made by absorbing it and bringing it & T. C under the Hydro system. Its purchasesuprem marks a very great advance in Hydro." /..a. actually been consummated; that a fewCODSumers, the D.P.°& T. operates two | minor details, that might take a day or"40A! lines--from Hamilton to Beams-- | so, had still to be agreed upon. Con--Ylle, and from Hamilton to Brantford. sequently he was unable, he said, toIts Other radial lines have been dis-- discuss the terms of the agreement and COntinued. It also operates the largest such important matters as operation offleet of motor busses in Canada, and the Hamilton street car system andCOntros! every such line running out of | busses, which the transfer of control of D°YG, Save a Toronto line. The com--| the Dominion Power system naturally PANY &lso operates the Hamilton Street involves. Railway Company. It is therefore one of the largest power companies in Can--| Hon. J. R. Cooke, Government mem-] ber of the Hydro Commission, stated last night that the agreement had not actually been consummated; that a few minor details, that might take a day or Minister Says -- Com-- pany Officials Profess Astonishment at News-- Agreement Not Signed F. °V"tion of duplication; problems of differ-- °C ent frequency cycles in current, will be andtackled by the Commission in -- due "___ Further details as to allocation of any '~" debts outstanding against the D. P. & 9~" T. Company; the "change--over" of mu-- © nicipalities' distributing -- organization f'f into a public ownership system; elimina-- _ Absolute Supremacy. ';: Absorption by the Hydro of the D.P. & T. Company will give Hydro absolute ?,esupremacy in the Niagara Peninsula, Hamilton, and as far west as Brant-- :'&ford. In addition to the large number ";of industrial and commercial power "A complete clean--up" was the defini-- tion applied last night from an authori--« tative source respecting the purchase 'project. The purchase was described as |being as advantageous from an eco-- 'nomic standpoint as it is possible to Iobtain. "Complete Clean--Up." A# ie mm' resparser>* > > > ' T wenty--one Million Dollars | The company controls and operates the following properties at Hamilton and vicinity: + The Hamilton Cataract Power, Light and Traction Company, Limited. The Hamilton Electric Light and Power Company, Limited. Hamilton Street Railway Company. The Hamilton Radial Electric Railway Company. The Hamilton, Grimsby & Beamsville Electric Railway Company. The Brantford & Hamilton Electric Railway Company. Hamilton Terminal Company, Limited. The Dundas Electric Company, Dundas. The Lincoln Electric Light and Power Company, Limited, St. Catharines. The Western Counties Electric Company, Limited, Brantford. The company supplies light and power to Hamilton, St. Catharines, Brantford and Welland, and the Municipalities of Port Colborne, Grimsby, Dundas, Beamsville, Burlington and Oakville, and operates electric railways in Hamilton and adjoining communities. Initmertdalitrectebeftimetaetimenteittectebiitmenieitimnnieiiinctaiitimentttzatd ditetidsiitenteiitentd diinidiincat 1 ie t l ie PVE PE The Dominion Power and Transmission Company, Limited, which, according to the statement of Premier Ferguson in the Legislature yes-- terday, likely will be acquired by the Hydro--Electric Power Commission for Ontario at a cost of $21,000,000, was incorporated on Jan. 22, 1907, under the laws of Canada, with a perpetual charter. aTcIn 27#\' l In 1927 the company purchased seven busses from the Hamilton Bus Company, operating between Hamilton and St. ! Catharines. Early in 1929 several | other bus lines were acquired, which give the company control of all bus serv-- | ices entering Hamilton, except Gray |Coach Lines of Toronto. Territory | served has a population of over 300,000. The funded debt as of Dec. 31, 1928: $5,192,000 serial gold mortgage 5's, due serially to April 1, 1932, interest pay-- able April 1 and Oct. 1, redeemable at 107%, secured by mortgage on all prop-- erties and securitis owned. In addition, there were outstanding $1,501,000 Hamilton Cataract Power, Light and Traction 5's, due 1943; $453,-- 000 Hamilton Electric Light and Power Company 5's, due 1929, and $150,000 first mortgage 5's, 1933, of Hamilton, Grimsby & Beamsville Electric Rail-- The company has contracts for 10,000 horsepower from the Canadian Niagara Power Company. Funded Debt. The Hamilton light and power fran-- chise runs to 1948, renewable for five-- year periods, the city, if not renewing, to take over the entire properties; Wel-- land Canal water rights run to 1961. ada, ana nas a total development of approximately 124,000 horsepower. This consists of 87,000 horsepower from the plant at Decew Falls, 27,000 horsepower from its auxiliary steam plant here, largely an emergont reserve, and 10,000 horsepower which is bought from the Canadian and Niagara Power Company. Plant at Decew Falls. Physical assets of the Dominion Power and Transmission Company con-- sist of hydro--electric plant at Decew Falls, Welland Canal, the company de-- veloping 50,000 horsepower under a head of 265 feet; auxiliary steam plant at Hamilton, designed for 80,000 horse-- power capacity, but with installed ca-- pacity of 26,000 horsepower; 12 substa-- tions, 287 miles of transmission lines, 183 miles of distribution lines, 35 miles street railway, 85 miles of interurban railways, terminal building at Hamilton, with company's offices and uptown ter-- minal for interurban lines. 09 Nhuls 9 esd 9 s 6 P "Sa d P n d