Show SUGAR TRUST GETS A ATi r Ti S iV V r Deal Leal Whereby It Secures of the Capital Stock of the ine Utah Sugar Company the Amount to lie Be Paid Being leing Given that No Attempt A rY Will Be Made to o Fight Other Local Concerns I r TRA involving the 1 rhall of l of half of n k gar tit ht ca P lul et k of the Utah i ft helder r to c partite b s1 aU probability fi Ita is New York today Tae e c is of my to I be 1 atno Hll e paid over r t to to R thE th deal Act than iS tIO In f rfd are to be w t r haf at a piles between 16 and 18 I hi it lb t h iw said solf that the stock o tsar itt R tell go CO to the American Su truSt e D pany or t it is sU sugar ar la 11 rl a by th those t who art are Py to P a that the b bs U sugar SU r Industry till n be I let JJ 1 Ih rapidly tu than n r er before t me tt will VIII b be I th the buil duz i g of six a i I F o s more factories in r artous pant pacta of this tate state I In the Hear Bear river ten The declared policy of the old and aDd tIM the new Dew interests alike wilt will be to toa a d the business of makIng sugar npr f Me u rapidly as conditions nij w rrt nt nty t BJ y wb who understand the situ situa It is 11 declared that no fear need be entertained of the cane sugar trust c mown wn the Utah factories and th tans nc a fatal tata blow at the great local ID as some have han surmised would ee be the result As Joseph Geo Geoghegan ghegan who handles the output of the sup sugar fa factories tori f expressed it last n night ht all th thee e d as he had haden hadeen een en informed had been carefully at ster er to ID the contract of sale The control of tl the situation will 1111 ron con tin to remain it local 0 81 hands The following of statement of Jot e f i i I 1 b 4 1 p ye I ir f the transaction was out ut last ast evening by byI Jre tor T G 0 Webber and Se Secretary tary Ii G C Whitney of the 1118 Utah s j Sugar company i 1 Some time a ao T R Jt Cutler general r manager of the U Sugar com company pan received a from m number j I of eastern ca who stated that t they y were about to e cutter Into the beet I sugar industry In the Rocky Mountain I region Ion As An some of them had already I had bad dealings with the Mormon people they preferred to en engage age i the busi business I rf ness S With them by b Ing stock in an I I f established facto factory Y managed by theta them If it mid could be done at a reasonable I l I price prk if not th they would build buhi fae fac tories tori 8 of their own t Negotiations were opined and the i i eastern men sent t I C CC on Page PaSe a 3 J SUGAR TRUST GETS A FOOTHOLD IN UTAH 1 t t f C Continued from rom Page 14 to look e the the field Three have it h re at various ues Ja hi the pt three months exam the plants of the Sugar company and the Bear River Water property owned by it Manager Cutler also aiso made several trips east The reports s ot o the experts were Is fa favorable and the figure finally agreed upon for the mount amount of stock the Par par p approximately shares abare wee was from 11 to 1 18 Per share dependent upon several qu as asto asto to the assets which could only be settled by s a between Mr Cutler and the proposed bu buyers ers Remains in Utah The amount of C st stuck k trop proposed d to be purchased precIsely one halt half the capital stock of the company ny The offer for tor It was as made by the ern gentlemen to the larger stock nolde wh It was by them the tb president t tos s eph h F S Si and tile board of directors were n n agreeing that U the smaller stockholders should have the same sameI priVilege If they desired to avail themselves of It Letters were there therefore therefore I fore sent out to the 00 or OJ more stork stock bol holders era About It 10 per cent of the stOck decided to go in and the other 10 per cent d decided not to sell an any of their Thus If the deal is consummated lf the stock wilt be owned by eastern parties and one halt half by Utah men menThe A AThe The que question as to who should con control control ho has out no figure as 88 it is stipulated stipulated and was in fact one of the re made by the eastern par parties parties ties that President Joseph F Smith should emaIn at the head of the corn com company patty pany That Mr Cutler should remain Its manager that a m of the I board of directors should reside In Utah and that the new board to be at the annual meeting April 6 should hold bold office for a term of five years These matt matters rs agreed upon Mr CUtler left for N Nw w York on Friday last with the stock certificates in his pos on The conference between the In lag syndicate end and Manager Cutler at the negotiations are areto areto to be made de would have been held beld yes i terpy had not Mr Cutler been de thirteen hours by floods in reach reachIng lug Ing Ne New York A dispatch received late yesterday afternoon by Secretary from om Mr Cutler announced L r that the conference would be held thIs morning AT Fear Pesi That Advent of Trust Nay May Mean an Harm to Ogden Factories Special to The Herald Ogden March news that the American Sugar Sug r Refining company has secured the controlling interest In Inthe Inthe the Utah Sugar company caused cot apprehension In Ogden as to the probable effect it would on the Ogden and Logan sugar factories and incidentally on the Le Grande Ore Oie factory which is owned to a cOnsider cOnsiderable considerable able extent parties It was seen at onCe that uv tb American SUgar Refining company is a conc rn strong enough to the beet sugar industry In UtAh if it t once gets i ia a foothold The trust d by tern tem i the price of bee b eta to tl the ers p prEVent ve th f facto et ties rles from getting ts ana by lowering price of gar could make It Impossible for the f ther factories to operate The stock in the Ogden sugar factory is oWned by David Eccles and his business l associates excepting that 00 farmers lIve have small holdings and tl the e Logan factory is owned en entirely b by Mr Eccles an and his partner Judge Ule tb secretary of bo both h these companies ant David Eccles the president both stated to 10 The Herald that no offer for bra a controlling Interest of their stocks had been heen made nor SO 90 far as 88 they euid learn to any other shareholder ri Ir EccleS Said aid that he had bad felt satisfied ed for some time that the American Sugar Refining corn com company pany WM wa after the Utah factory and andI that he realized that this con concern cern was I powerful enough to do anything It pleased with th the au sugar industry of It is understood that Joseph F Smith and T R Cutler would still retain I their positions with the Utah company and the Ogden men are satisfied that If left Ift to them themselves t those two officers would not be to the ries of Utah But the fact that an outside concern Is in a posItion to dominate the husi busi ness fleas of sugar in this locality causes considerable uneasiness and it itIs itIs Is admitted on aU all sides that no sue suc successful attempt can be made to o fight them and Jr if the so will the Og Ogden den and aDd Logan WOUld have to close e down j |