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Show I mm. LIFTED I BY SUGAR COMPANY H Salt Lake, Aug. 21. With the rc- H demption of $179,000 worth of bonds H on August 1. the Utah-Idaho Sugar Hl company paid off tho last bit of its H indebtedness and lifted a mortgage of H $400,000 on the company's Lehi fac- H lory that has been held in the east j ' since 1895, according to T. R, Cutler, H vice president and gcperal manager M of the company. The final legal ac- Hi tion in freeing the Lehi property of H incumbrance waB put through at Pro- H vo yesterday when a release and can- H cellation of a trust deed executed 'by H the Utah Sugar company, the prede- H ccssor of the Utah-Idaho company, 1 August 15, 1895, was filed in the office H of the county recorder there. The re- H lease was signed by the presidont and H secretary of tho Security Trust com- H pany of Hartford, Conn. H The $400,000 worth of bonds issued H by the sugar company bore interest H at the rate of G per cent. At that H umc the company was incorporated H for $1,000,000, according to General H Manager Cutler, and $500,000 worth H of the stock was still In the treasury. Hl Since that time both capital and fac- H tory have been increased more than Hl three times. The bonds wore redcem- H able at the rate of $10,000 worth each H year. During the twenty years efforts H of the company to buy up the bonds H resulted in the securing of only $21,- flf 000 worth before they were due They H were widely held by investors, who H were content to draw the G per cent H interest and refused to let go of them H even at a premium offered by the H company. Only when they matured H and the Interest stopped were they H given up. The final lot, taken up HJ through the Connecticut trust com- H pany on August 1, called for the ex- H penditure by the sugar company of H the $179,000. |