OCR Text |
Show SUGAR COMPANY'S -ASSETS Sa3.000.00B 1 Utah-Idaho Annual Report Shows Excellent Condition Condi-tion of Concern. Permanent assets of the Utah-Idaho Sugar company exceed $18,000,000, while the "cash and convertible ussois" "total 114.600,000. of which the largest item is sujrar on hand, amounting to more than $8,000,000, according 'to the financial statement read by Secretary and Treasurer Treas-urer II. G. Whitney at the annual meeting meet-ing held Thursday. The grand total of tho assets is $33.:?0,009.70. The company's com-pany's liabilities include capital stock issued, is-sued, $23,600,000; reserves, $50!, 000; current cur-rent liabilities, 57.S0O.000, and surplus, $1.053.0t"). The conrpa:iy now has 3-tOO stockholders stockhold-ers distributed in nearly every .state tn the union. At the recent meeting about 60 per cent of the capital stock of ihe company com-pany was represented in person or by proxy. The report of tho company's operations for the year, which wan read by President Presi-dent Lira iH, pointed out that the company com-pany had paid to the government more than $1,250,000 for income taxes. "It ij evident that the company will be unable to buWd up a surplus as it ha done tn the puyt years as long as thrno large items ci expense continue," tho. report re-port says. According to the report, the total beet sugar produced in Utah. Idaho and Washington, approximated 300,000,000 pounds: the Utah-Idaho company produced pro-duced 1.63ti.Ju5 bags, or more than 60 per cent. Hased on $'J a hundredweight, the 3tjO.ti0O.OOD 'pounds of sugar produced brought into local circulation tho sum of about $27,000,000. - . During the year the company paid for 8S3,Ot7 tons of beets and worked 620,04.1 tons, the loss by dirt, shrinkage, etc., being 63.051 ton, or 9 '23-100 per cent, which is somewhat higher than in the average year. In the same period the company contracted for 67. 5 17 acres of beets ii :id harvest d 07.t"y5 a-r'S. the main fit I ling off occurring in the state of Wubhington, where a blight fell on the crop in the late spring and reduced the acreage by about 60 p--r cent. The form.-r hoard of directors was reelected, re-elected, confuting of the following: Ho-bt-r J. Grant. Thomas R. Cutler. W. S. Mcv'ornick. George Homney, James 1. Murdock, John C fuller, William II. Wattis, C. "W. Nibley and David A. Smith. Tho board of directors elected the fol- fvnn of f i.'.r-M for the enduing year; Pr.'vMent. M-bor J. Grant; vice pre-sl-i dents. Thomas K. Cutler and Merrill j Nibk y: secretary and -treasurer, H. G. ! Whitney; as-si-Uant secretary and treay-jurer. treay-jurer. W. T. Pyper: general manager. . W. Nih'.-.v. r.nd a.iietant general man- agor, Merrill Nibley. |