Ebasco Services, Inc.-Description of services and billings rendered to Idaho Power Co.-Continued Description of services rendered Engineering, purchasing, inspection and expediting Technical investigations and studies re develop- Study re power loads and resources_ Total.. 1 Includes charges unbilled in previous year amounting to $1,953.78. Ebasco Services, Inc.-Description of services and billings rendered to California Oregon Power Co. Ebasco Services, Inc.-Services performed for California Oregon Power Co. during period Jan. 1, 1950-Jan. 1, 1952 Subject: None. Order No.: None. Ebasco Services, Inc.-Description of services and billings rendered to Portland General Electric Co. Ebasco Services, Inc.-Description of services and billings rendered to Portland General Electric Co.-Continued Technical services in connection with Shellrock Study re power loads and resources Technical services in connection with the preparation of data on water resources and power for presentation to the Commission on the Reorganization of the Executive Branch of the Government.... Technical investigation and study of Arch Dam at Oak Grove Fork of Clackamas River as to existing stresses, present conditions, repairs required, etc.. Technical services in connection with subsurface investigations for proposed Bruces Eddy hydroelectric development.. Technical investigations and studies re feasibility of Clackamas River hydroelectric development below North Fork.. Technical services in connection with the preparation of license application for proposed Pleasant Valley hydroelectric development including general design drawings, equipment specifications, field drilling and tunneling, and cost estimates.... Technical services and studies in connection with proposed Mountain Sheep hydroelectric development.. Technical review and study of plans and estimates for proposed high dam at proposed 240,000-kilowatt Pelton hydroelectric development... Engineering and coordinating services in connection with the preparation of license application for proposed Mountain Sheep hydroelectric development and proposed Pleasant Valley hydroelectric development.... Technical services in connection with revision of cost estimates for low dam at proposed Pelton hydroelectric development. Technical services in connection with revision of cost estimates for proposed Round Butte hydroelectric development. Technical services in connection with the preparation of preliminary alternate layouts and cost estimates for increasing the capacity of Farraday plant... Preparation of plans and specifications for improvements and repairs to the Lake Harriet Dam.. Total. 1 Excludes unbilled charges amounting to $10,008.25 billed in succeeding year and unbilled charges amounting to $25,000 deferred pending final determination of Timothy Meadows project cost. 2 Includes charges unbilled in previous year amounting to $10,008.25. Ebasco Services Inc.-Services performed for Portland General Electric Co., during period Jan. 1, 1950-Jan. 1, 1952 Subject Order No. Pelton hydroelectric development 1954, 120,000-kilowatt installation___. 4100 4101 Power supply study_. 4115 River Mill and Oregon City hydroplants increase in generating capacity--- 3441 Ebasco Services, Inc.-Description of services and billings rendered to Mountain Ebasco Services Inc.-Services performed for Mountain States Power Co. during Subject: Services of Washington office. Order No.: 3841. Ebasco Services, Inc.-Description of services and billings rendered to Electric Memorandum to Messrs. Hawes, Devlin, Hasfurther, and Schlosser. Copy to PUGET SOUND POWER & LIGHT WASHINGTON WATER POWER I have just spoken with Bill Parrott, who tells me, in connection with the suit It is asserted that- 1. Public service commission approval of the PUD purchase is necessary. 3. As a result of the contract between Meyers and Beck, the legislative powers of the PUD's are being assumed. 4. Under the law, Kitsap County PUD cannot assume part of Chelan's obligations. 5. The price being paid by Kitsap County for the properties is too high. 6. The properties in King and Pierce Counties (where there are no PUD's) which are being taken over are useless to the districts. 7. The pension plan is illegal. As to the Massachusetts situation, the court hearings will start in a "court of merits" early next week, which will be far more exhaustive than the hearing in equity. Robinson and Parrott are anxious to have any Puget Sound Power & Light stockholders who are opposed to the PUD takeover to join the present complainants in this suit. Counsel is Burns, Blake and Rich, of Boston, and the man handling the matter in that firm is Henry J. Leon. FREDERICK L. MILLER. BLYTH & CO., INC., New York, N. Y., March 27, 1953. Mr. KINSEY ROBINSON, Electric Bond & Share Co., New York, N. Y. DEAR KINSEY: Following our talk yesterday, we are phoning to Kidder Peabody and accepting our position in the syndicate with thanks. We are most appreciative of your attitude in the whole matter. Charley Blyth is here from the West and I have reserved our lunchroom here for Thursday, April 2, in the hope that you can have lunch with Charley, Stew Hawes, and me on that day. As I remember it, you said you thought you would be back from Washington on Wednesday. I hope you can make it. It would give us much pleasure. DEAR KINSEY: For the past week and a half I have been in southern California, coming here principally with the thought in mind of having a vacation and visiting our oldest daughter who lives in San Diego. I find, however, that this so-called vacation has turned into many appointments to discuss with people Washington Water Power Co. and Puget Sound Power & Light and the possibility of the merger deal. I spent all day Tuesday of last week in San Diego with individuals and groups who have been very heavy buyers of Washington Water Power and also Puget Sound Power & Light. They were most enthusiastic about the two companies and the merger. As a matter of fact, what they wanted from me more than anything else was verifications of their optimism. Most of the Puget Sound Power & Light stock purchased there was purchased quite recently and for the sole purpose of getting the stock of the new company. The bankers who have studied the deal are looking forward to using the new preferred in trusts where they are restricted to preferred stocks. These people represent key people in that territory. Therefore, I am sure there will be no trouble getting a favorable vote from that section. It was my intention to go to Palm Springs direct from San Diego, but the boys wanted me to come back to Los Angeles to discuss the deal more in detail with people interested here and my reaction here is identically the same as it was in San Diego. Fred Miller is making the coast circuit the latter part of this month and I am sure that the demand for his time will be on this same issue. Needless to say, it looks very optimistic. I noticed the syndicate setup on the $28 million of private placement. Naturally, we would like to have top place. On the other hand, you have discussed these other obligations with me many times in the past, so this setup is understandable. Believe me, it is wonderful to know that you will give our firm serious consideration for a top position on your future deals. I expect to be back in Spokane around the 6th or 7th and am looking forward to discussing with you some of the specific individuals contacted down here and the blocks of stock that they represent. DEAR JACK: Kinsey Robinson and Bill Parrott of Electric Bond & Share came over and had lunch with Charley Blyth, Stew Hawes, Fred Miller, and me on Thursday. At that lunch he confirmed all that he said to Fred Miller and me a week before. Particularly, he confirmed that when his company goes to the public, his present thinking is an expectation of having Blyth & Co., Inc., in the managerial group close by Kidder Peabody. He had planned to have a dealer-management syndicate to drive in the shares, but now he does not believe that such a syndicate will be necessary. We, of course, volunteered our services in any way possible and he seemed appreciative. He does not anticipate any great difficulty in obtaining consent of the necessary shares and he does not believe that the percentage of shares asking for cash will be large. He thinks it will be under 15 percent. My guess would be even less. Anyway, it was a most friendly lunch and I think Blyth & Co., Inc., is in a reasonably good position, not ideal, but good. I am sending a copy of this letter to Roy Shurtleff, Ed Maxwell, and Jimmy Miller so that they will know everything that we here know. Best always, P. S.: Kinsey Robinson certainly thinks highly of you. GEORGE. FEBRUARY 11, 1954. Memorandum to Mr. F. L. Miller, referring to Mr. Leib's note of February 9 concerning Frank McLaughlin. Yesterday, Al Bourneman telephoned me, presumably because you were away. He said he had learned that McLaughlin had employed Tatum of Institutional Investors (which I think you already knew), with the object of having Tatum prepare some sort of comprehensive study and report on Puget which McLaughlin then intended to use for a new series of public propaganda all in the nature of girding for an expected proxy fight. Bourneman then went on to say that this prompted him to renew his point that the Puget stockholders committee should promptly employ some engineering firm to prepare a report so as not to be caught flatfooted in the propaganda battle. He said he had sounded out Carl Brown about this, whose first reaction was to get the question about the stockholder list settled first and that Bourneman thought this unwise. I told Bourneman that I thought the thing to do was to talk out this question in a full committee meeting and not in a series of ex parte discussions and that if he considered the question pressing at this time, he ought to so indicate to Larry Marks and arrange promptly for a meeting of the committee.' He said he would do this with the object of having a meeting next week when I told him you would be back. A. J. SCHLOSSER. BLYTH & Co., INC., New York, N. Y., November 25, 1953. Mr. FRANCIS CURRIE, Burns, Currie, Rich & Rice, New York, N. Y. DEAR FRANK: Attached are three suggestions for inclusion or substitution in the letter. The first (marked No. 1), it is suggested be inserted before the last paragraph of the letter. |