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Show AMALGAMATED SIP TO INCREASE CAPITAL Decision Believed Last Step in Entrance of Horace Havemeyer. Total Stock Authorized Is $33,750,000; New Directors Direc-tors Provided. Special to The Tribune. (MiliKN .July Thvn final step in what is believed to he this matter of arranging for the entrance of lloraco llavcmever of 'New York into the Amalgamated Amal-gamated Sugar company of Ogden was taken todav when the stockholders ot the company met anil authorized increasing in-creasing the capital stock by o,u00,r()0, making the total capitalization $33,-Too.'KHJ. $33,-Too.'KHJ. It was also provided the directorate would be increased from eleven to fifteen fif-teen The election of the additional directors and .filling other vacancies will occur at a meeting of the stockholders stock-holders to be called soon. 1 Announcement of the decision to m- erease tho capital stock and the number num-ber of directors was confirmed today by Urod G. Taylor, secretary of the company. com-pany. Interest Assured. The action of the stockholders today is tho concluding step in what Is believed be-lieved to be the bringing of new energy into the company. ' Officers of tho Amalgamated Sugar company admitted, in the earlv part of June, that in return re-turn for Mr. Havemeyer 'a promise to furnish counsel in the managerial dc- 1 partment as well as expert aids, and for assistance in tho disposition ol stock, he would bo given the opportunity opportu-nity of obtaining an interest in the company. At the time' of the visit of S Nf. ivlsell, vice president ot tho Great 'Western Sugar company of Denver Den-ver to Ogden, about June 14, the re-' re-' nort gained circulation that he was to come to Ogden as the Havemeyer rcpre- aLaateumors are to the effe-t that Mr I'dsell will come to tho Amalgamated ns vice president and general manager. This position was formerly filled bv L K Kccles, who resigned several months ago, and the position was held temporarily bv David C Eccles. Mr. Taylor also acted as assistant general manager, in addition to his duties as secretary and treasurer. To Sell Stock. As a result of tho action toda the Amalgamated' Sugar comnanv it was announced, would sell $0,000,000 in stock Of this amount there will be $.-,,000,000 eight per cent cumulative sinking fund first preferred stock. The other Stock will be 1, 000 000 common. The issues of stock in addition will l $3 750 000 in first preferred stock and "- 000,000 in all of common stock. Kegarding the $0,000,000 issue the resolutions of the hoard of direct"", which were adopted by the stockholders '""Tlie holder of said preferred stock Hhnll bo entitled to subscribe for any additional ad-ditional or Increased preferred capital nock of the company' which may at any time bo Issued, pro rata vwiu ;'" "-'" mon stockholder, hut snail not be entitled en-titled to subscribe for any common capital capi-tal stock which may at any time be issued. The company may redeem said shares, or any part thereof, and said preferred stock on anv dividend payment date by paying in cash therefor the sum of one hundred and iwentv dollars (JI20) per share, and the dividends accumulated to the date fixed for such redemption. Notice of every such redemption shall be given by publication publi-cation thereof once a week for three successive suc-cessive weeks in a daily newspaper of general circulation published in the city of New York. New York, the first publication publi-cation to be at least sixty days prior to tho redemption date, and a written node no-de of scuch redemption shall also be deposited de-posited In the Vnited States ma 1 duly-stamped duly-stamped and addressed to the holder of record of such preferred shares as shown upon the books of the company, at least sixty days prior to the date of such redemptions. re-demptions. Penalty Provided. 'From and after the date fixed in any such notice as the date of redemption, unless the company hall fail to provide sufficient moneys at tho lime and place specified In such notice for the payment of the redemption price, all dividends on such preferred stock thereby called for redemption shall cease to accrue, and all rights of the holders thereof as stock-, holders of the company, except the rlgh to receive the redemption price, shall cease and determine. The designation md calling of any of said preferred stock for redemption shall be in such manner us the board of directors may determine before such call. . "So long as any ciuarterly dividends have not been passed or unpaid, the holders hold-ers of said preferred stock shall have no voting power on any tuestion, except as hereinafter otherwise provided: but when two such quarterly dividends are unpaid then and thereafter until all arrearages of dividends shall have been paid on said preferred stock, the holders thereof shall be entitled to vote said stock at a meeting meet-ing of the preferred stockholders of the company, which shall bo called on twen-tv-one davs' notice by the officers of the c'ompanv or the holders of at least one hundred thousand dollars (flOO.OOO) par value of said preferred stock, and to elect one-third of the full number of the. board of directors of tho company as then existing, ex-isting, and such preferred stockholders at such meeting shall designate the members mem-bers of the board whose term of office i y to expire upon the qualification of such one-third so elected by said preferred stockholders. Voting Power. "After the payment of all arrearages cf dividends, the exclusive voting power shall be returned to the holders of the common stock: and new directors in lieu of the directors elected by the holders of said preferred stock may be elected by-such by-such common stockholders at a meeting which shall be called by the officers of tbo company or the holders of at least one hundred thousand dollars ($100,000) par value of said common stock, and upon Twenty-one clays' notico thereof to the stockholders by the officers of the company com-pany or said common stockholders." "t the meeting today President Anthon tl' Lund presided and Fred C. Taylor was secretary. It was stated lhat there was a. representation of the larger interests in the ugar company, which included the shares held by the Eccles estate, the i Brownings, the Watt is. the Scowcrotts and other Ogden and Weber county stockholders. stock-holders. , , The date of the meeting for the election elec-tion of directors will probably be in Sen-tenner. Sen-tenner. This meeting, it is stated wdl probablv result in the election of Mr. H-ivemever or hi : representatives upon the board of directors and among company officials. Eate today th- amended articles of in-corporation in-corporation for the Amalg.irr.aied sugar company, increasing the capital stork l S.'i3 7Vl iKifl and the number of direc.ors to fifteen, was fili-J with the county clerk, according to the solution aoopted at the "ockhoiders inec-iiig this morning. |
