| Show i SUGAR BOARDS ACTION J The Allotment of New Stock Has Been Riiclnded The Issue Will lie ial000 Indeed ofIIKOOU and be Limited lo lutkneUire I ro Hal k Tito board ot director of tile Utah Sugar company met yesterday afternoon after-noon and look Important action relative to the new Issue of 1100 000 stock which lIul had prevloutly decldael tu Ia for the proloublr r arilivic the plant and ulldlng aullismiry factories AI Ilia molln of tho Ixurd held on the 17th the aubacilpllon I of Thoa K Cullor for subscIllii 11 fo onehalf the Proposed Issue COOoo Shares at Ir lAd bn received and acceitrd ur ho board and the remainIng remain-Ing ouuO ihana1 had been olTercil the preutnt Stockholders I prorata with their holdings t the old stock At riterdaya meeting Ireildent Cannon informed the board that toy oral stockholders had objected lo the J I nC allotment lo Sir Cutler claiming the right to their pro rate of the entire logo Mr Cutler thereuiun offered lo allow the resolution lo bo nnclndeJ and after eonilderahlo discussion this Step waa decided upon A new Creole lion was adopted prtAldlng thai via new Issue should be UK wo whkh exactly ex-actly I doublia the I present capital and that I the entire Issue should I bo I orfere l the stockholders pro raw which will civ Both who duke rtI ono full hh re for every thorn ho now owns II was also decided lo tall a special meeting of the stockholders on May vth to ratlly the iictlou of the board and the call for the meeting allaro In the uilverllilng column of the Newt I his evening The subscription wake close Julie liter and In I lit-er cent cash mint accompany flits tubicrlptlvn tho remainder being ailed for in four quarterly Intall Inept dated from October lit Hail Irrildent 110 rye Q Cannon further Jplalntil I to a Nowalt repreientallvo the ttuion for the o lttJlro action ot the board and the chango decided on Yeiterday lie iuilli When It accepted Mr cutler subicr fallen for IJw I tharee ilia board conldend II was 10 Ing a vcy good stroke of bustling for all the Ptrekholdvra The fact that the lonnl Itself l owns Hie control loCI the tuck wince thai Its action wa taken for what u rimldirrd l Iho beat Inter em nf She tompnny It Irk tho view that U was doubtful liooooo could ho obtained In this 1 llmltnl market and that If in much wro offered here She lock might lyrfer while If II were known Hint Sir Cutler the manager of the works and the man hotter l iwiteil than any other In Utah on the lumr In Wr IeI Uh iluitry 1 hrul taken half tile Issue Iiy me irlng content money It wu thought the remaining Koooou could he easily i JI > Placed liere anl that II tho stock Would 1 be kept up to the Present Prenatal an Certain Arm sto anti a asionst them socassellwav capitalists took theo the-o 11 opposite view hlldlng that tho ailing iMue could bo abWrbrd by Hi tAw t stockholders and thai they were entitled en-titled to their proportion of tho whole The contract with Mr Cutler had been entered Into by the board and had ha fell 10 dlpoeed he roull have ltuile lon l-on till fulfillment 1 but when ho learned that there was any chance ot critlclim ot the board by other Stockholders ho was the first coruwnl have III action ac-tion rescinded |
