| Show UTAH SUGAR BONUS SElL UlC LY Entire Issue of Seven Hundred Thousand Taken up and Over OverSubscribed Subscribed ALL ARE BOUGHT AT HOME Annual Meeting of or I Held Oh on Preferred Set Aside for tur Next Your Year All records In the tho Wu of local In Investments vestments were wert broken yesterday y when The Utah Sugar company stated that Its Issue of bomb amounting to if ca cash h had been oversubscribed with in 24 hours of Its public announce announcement ment Tho fhe board of ot directors met on Tues Tuell day and formally authorized the Issue Is ue which had been discussed for tOl some 1 lISt Thursday Thurs ay nights NiMs con contained contained a II statement of ot the tact fact and nt It the annual meeting of o the stockholders ers ere held at 5 p tn yesterday Manager Cutler stated that tho had been subscribed and thota a n number of ot Investors who wished an allotment of ot the bonds hud been told that their applications had como come In too tOil late Inte It Is understood that the tho hanks of Snit Salt Lake with several capitalists here and In cleaned up the Issue Isme the figure being par and accrued In without discount or commission The he record Is a I remarkable one for 01 several reasons firm that so o largo a 11 sum should have been raised entirely n local mOIle circles second that it should have been subscribed so 10 In tho fuce of ot what has been I an aB un oft of year In III the sugar ugal world and lat last but by no means tho money should have hac been offered on 1 tho Vcr very day lIa when the dispatches dispatcher brought tho news call money on Oil Wall street was IR bringing 30 per cent per annum A few years ago such an achievement would have hae been ble Its IlK today lod emphasizes el the tha fact there Is plenty of ot money hero hera for fr Investment In sound enterprises that the public confidence In tho homo sugar augar Industry Is III unshaken and mora morl than all ull that t tho vests e declaration ot or financial Independence Is In excellent working order MEETING Thomas H n Cutler presided and ancl H II G 5 Whitney acted as nil secretary of ot tho annual meeting of ot the th stockholder of The Utah Sugar company held yester day In the News Nes annex Over CO to per cent of ot the entire Issue of or Block was represented In person or by b proxy of or the treasurer and general manager were rend nn 1 accepted Mr Ir Cutler lutler speaking to some KOmI length and answering ques questions questions 11 by hy stockholders on the yield of ot beets heets the tho output of sugar nt fit ehl the effects effect of ot tho drouth and the blight reason and the tho prospects prospect for tor the coming year He Ho went Into considerable detail showing the adverse conditions which had pre pie the entire loss of crops In somo the loss In others find the tailing falling iff In contents of even thc tho I st obtained All this had ball entailed entail ell longer and more expensive op orations nt at the factories than In pre previous loUII eup and all theM tj facts tn to tho Io 11 prices prevailing for tor HUgar hurl hud decided the board of or directors director tors tor that It Il was thA part pt of prudence prudenc and for the Interests of thu corn com puny to suspend till payment of divi dividends on Oil he common stock which been beell done some months ngo He lie also referred to tn the rebates tes pair paid to tho farmers who had suffered total or par PilI partial In their crops un an Item which had 1 on to the operating expense In view ot or nil the circum circumstances stances Manager Iana cr Cutler said the of directors felt that they the hud rca lellOn on lo II congratulate the company that tha t conditions were e favorable ao all they th wore th the undivided pro lit A of the company dividends of ot 7 cent centon on the tho preferred tock stock amounting to been heen net let n for tor the next year would l o 0 paid pahl quarterly na usual He that It was wag very err rare rarely ly 13 that blight ht In two consecutive con culle years and a that tha t ho he was hopeful of ot n Il good tood season for fot the coming year An 1 excellent water supply everywhere was assured Mr II Cutler Gutler In announcing the th gratify gratifying ing tU success of It the bond hond Issue I sue said that the condition would bu lie greatly Improved by b put Its It debt debton on n 1 long time hash basis as It was a Il henvy being forced to pay 1111 for fOl Its It heels heeti and lIB Its expenses during durinA a period of 0 OJ to days till while tho sugar Kuar manufactured d had to be car carried carrIed ried an all entire year |
