Show SUGAR BONDS PUT ON MART Utah-Idaho Utah Ref Refinancing at Lower Rate J The Th syndicate offering of the tho 7 Idaho Utah first mortgage moo 6 G per cent serial gold bonds took place Thursday the underwriter underwriters Kidder Kid Kid- der Peabody Sc Co o of New York Tork 1 Mitchum Mit- Mit lIt lIt- chum hum Tulley Co of San Francisco and the Central Trust company of Salt Lake A feature of ot the new offering I is the announcement that the thO C Central Trust company will be trustee co-trustee under the terms of the bond Issue The bond bonds are aro dated March 1 1 1025 1925 and are due duo serially from March 1 1 1926 to March 1 I 1940 the shorter termed bonds going at above par while the longer termed liens are selling at to yield 1 per er cent The Time Issues is issues It Is- sues were Vere to retire the entire outstandIng log Ing issue of 7 1 per cent bonds And also used in removing remo three of the company's com corn pany's factories to more favorable loca loca- tion In a I statement D. D jr if Watt Wattis Is vice president and general manager says In the opinion of counsel these bonds wll be secured by a first closed mortgage or deed of ot trust on all the land buildings machinery equipment and Irrigation systems of th the company except farm lands which are exempted to facilitate transfer or lease to farmers and by d deposit with the trul trustee lee of the time capital stock of Df the Canadian subsidiary The factories are thoroughly modern and were appraised in 1920 1020 at by the time Dyer company com corn pany engineers Today these factories with one additional plant are carried on the books at although the cutting capacity has increased 34 3 per pel cent in this period H. H W. W V. V Baum Co engineers have havo checked the plants plant and the figures at which they are carried car car- ried ned on the books booles and state that their present depreciated reproduction value is 19 urea ures materially in excess of th the book fig ilg- Net tangible assets as indicated on on the tIme balance sheet after deduction of all liabilities liabilities- other than funded debt amount to over or approximately approximately four times the amount of ot this Issue Net earnings of the company available avail avail- available able for bond Interest after atter interest on current indebtedness Inde and substantial charges es for depreciation for the past ten years year ean have per annum oi 01 of 41 2 times interest charges on this Issue Final figures are not yet available for the fiscal year ending February 28 1925 but it Is estimated that net earnIngs earn earn- ings will wili amount to approximately twice bond interest after deducting interest on current Time The loans and company did not operate to capacity last year due to drought conditions which cut down do the beet crop GRAIN GRAIS MARKETS MINNEAPOLIS Minn March 12 Cash Wheat Wheat No 1 northern i No 1 dark Northern spring choice to fancy U. U 89 2 i good I to choice 1771 SSU l-SSU ordinary to good No Xo 1 hard 2014 No l 1 dark darl bard hard spring Monta Mon Mon- ta tana tasa on track to arrive May July 1 1721 72 Corn Corn Corn- Corn No No o. o 3 yellow Oats Oats 10 No 3 white c. c Barley 73 Rye Rye Rye No 2 2 L Xo No 1 1 K KANSAS CITY March 12 Wheat Wheat Wheat- No 2 hart harrt No 2 red 1761 84 May 4 asked July asked September bid Corn Corn No No 3 white whiLe No 2 yellow No 1 3 I yellow No Xo 2 mixed 4 2 May split bid bid July September i Hay unchanged FLAX il DULUTH IT March J I Close 2 lose flax March h. h April and May July |