Salt Lake Tribune | 1914-03-06 | Page 11 | Canning Companies Are Amalgamated

CAINING COMPANIES ARE AMALGAMATED Kaysville and Syracuse Com- i panies Decide to Consolidate; Consoli-date; Directors Chosen. Special to The Tribune. KAYSVILLE. March 5 An important amalgamation of canning interests was effected hero today when itm T-ravcuni Canning company, which has been doing business for fourteen years, and the Davis Da-vis County Canning company of Syracuse, which was organized two years ago. were consolidated, and a new company to bo known as the Kaysville Canning corporation corpora-tion was organized to operato both plant?. 7.m ,capJ,t?' ck o lhe new corporation :"KVe 51.nV000- In 510 s,,ares' and $75,000 of this will be Issued, the balance. $25,000. remaining as treasury stock. Meetings of the directors and stock-ho stock-ho dcrs of both canning companies were held hero today and the vote on consolidation consoli-dation was unanimous. Tho Kaysville Canning company stockholders will receive re-ceive two shares In the new corporation for each share owned in the local company, com-pany, while the stockholders of the Davis County Canning company will be given one sharo In the now corporation for each share now held. The actual physical valuation of tho two plants to bo merged shows that they i,lnJt!X wor-'i 10 Per cent moro than tho 75,000 represented in the paid-up stock to be Issued. Both plants have been conducted In Iho past at a profit, and It. Is believed that the consolidation will make the new corporation one of the strongest canning companies In the state. Tno officers and directors, who are the principal stockholders, are as follows; John R. Barnes of Kaysville. president and director; Francis H. Nalder of Syracuse, Syra-cuse, vice president and director; John i ,?J.' Bares, secretary and treasurer; additional directors. Arthur F. Barnes of Salt Lake City. David Cook of Syracuse, Henry II. Blood, J. R. Galley, John Flint. Thomas J. Smith and Herbert J. Barnes of Kaysville. The principal place of -business will be Kaysville. but both canning factories will bo operated.