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Show FHiAu2UinSW7 STATEMENTS OF INCOME Garfield Leader, Garfield, Utah LEADER GARFIELD Published Since 111! THE THE Howard Rldga Publisher Edith H. Ridge. Editor Publish ad By Tha Coppar Printing Company Isauad oach Friday morning at Garfield. Utah Eniarod as aoeond class mail matter under tha act of March 3rd, 1173 at Garfield. Utah Adjudged ona of tha bast weakly newspapers by the Utah tale Press Association, given honorable mention by the National Editorial Association.1 Mail subscription rates-Paya- ble year. strictly in advance-32- 20 The limes welcomes contributions from its readers upon any subject of public interest. All communications must bo signed. Me attention paid to anonymous contributions. NOTICE on these bonds as the same fall due. The bonds will be awarded to the bid that produces the lowest interest cost to die District after deducting the premium offered, if any, and interest cost will be computed from the date of. the bonds at the interest rate or rates bid to the final maturity of the bonds. The District would like each bidder to file with his bid a tabulaton of the total interest charges and the rut effective rate. The District will deliver the bonda to the successful bidder in Salt Lake City, Utah, or at any other banking point that may be designated by tb? bidder at the bidder's expense. Each bidder shall file a certified or cashiers check in the amount of $1,000, payable to the order of the District. The check of the successful bidder will be retained by the District to guarantee performance of his bid and shall be forfeited to the District as liquidated damages if he shall fail to take up and pay for the bonds in accordance with the terms of his bid therefore. The checks of all unsuccessful bidden will be returned upon awarding of the bonds to the successful bidder. The approving opinion of Chapman and Cutler, bond attorneys of Chicago, Illinois, and the printed bonds wiU be furnished by the District without cost to the successful bidder, and all bids shall be unconditional The District reserves the right to reject any and all bids. By order of the Board of TrustImees of the Granger-Hunte- r provement District Salt Lake County, Utah, this notice is given this 19th day of August 1957. W. J. Jones, Chairman L. O. Larson, Secretary Date of First Publication, Au- NOTICE OF SALE GRANGER-HUNTE- R IMPROVEMENT DISTRICT SALT LAKE COUNTY. UTAH GENERAL OBLIGATION WATER WORKS SYSTEM BONDS 335.000 DATED AUGUST 1. 1157 IS HEREBY GIVEN that the Board of Trustees of the Granger-HuntImprovement District, Salt Lake County, Utah, will, on Tuesday, the 10th day of September, 1957, at the hour of 4:00 o'clock p.m., Mountain Standard Time, at 5635 West 3500 South in Magna, Utah, (being the District) in office of said Improvement the Granger-Hunte- r District, received sealed bids and publicly open same for the purImchase of Granger-Hunte-r provement District General ObSystem ligation Waterworks Bonds, in the aggregate principal amount of $35,000. Said bonds shall be dated as of the first day of August, 1957, shall be in the denomination of $1,000 each, dull consist of 35 bonds numbered consecutively from 1 to 35, inclusive, shall bear interest at a rate or rates not exceeding six per centum per anon num, payable the first days of August and February in each year, commencing February 1, 1958, both principal and interest being payable at the First Security Bank of Utah, N.A., Fourth South Branch, Salt Lake City, Utah, and maturing serially, without privilege of prim: redemption, $5,000 on the first day of August in each of the years 1962 to 1968, both inclusive. Said bonds shall constitute the general obligation bonds of the Granger-Hunt- gust 16, 1957. Improvement District of Date of Last Publication, Salt Lake County, Utah, and shall be payable from taxes sufficient 30. 1957. to pay the principal and interest NOTICE er semi-annual- ly MAIL STORY -- By Byrea L. Hulsk DAV NEWS Postmaster. Magna. Utah Johnnie's mother is determined that his party shall be successful in every way. AU of the kids with whom he plays and some with whom he doean't-a- re scheduled to be present Plans have been studied, test run, and perfected. Arrangements have been carefully underway for days- The only item anyone has forgotten ia the correct preparation of the invitations. So out they go with serious defects. Then, in a day or two some are returned. Some are delivered on the day of the party, or the day afterward. Othera never get where they are supposed to go. Maybe they were mailed ao late that even a small delay would be serious. Maybe they were sent with only two-cestamp to do a first-clajob. Maybe they carried no return address and so couldnt find their way back home after they got tost. And maybe those whose invitations went astray are Just the ones, whoso attendance U most wanted or who are moat easily l" earth comas an abandanf flat-rat- e 61.98; for all" Iff SURPLUS MAGNA WATER COMPANY (AN IMPROVEMENT DISTRICT) sprinkling 0) op- 1955-8923.2- 7) Water plant expenses: Electricity Maintenance and operations services - Note C Maintenance materials Supplies Office and general expenses: Office salaries Trustees' salaries Pay roll taxes Administrative services Note C Bookkeeping and collection services Meter reeding services Accounting and legal fees Office supplies Office telephone Office rental Miscellaneous office expenses Provision for doubtful accounts Insurance ss Note C Provision for depreciation OPERATING EXPENSES OPERATING INCOME Other Income: Taxes assessed by Salt Lake County (less taxes abated: B Less provision for uncoltectibte taxes Miscellaneous 8 WAYS TO MAKE MONEY WITH 0; TIMES-LEADE- R WANT-AD- S ter HEAL AN ALCOHOUO small pamphlat oo Bob Boll a livers nee (ram alcoholism and other Inspiring literature are ot ant to them. A growing list one of ns partners who have been ale Florida'! Urgeet plants In the ot holies and their (a tallies speed and packaging aaotab-inprocessing deaplaed ihe written word with the froten aea foods.aU He of fervent, prayer. Ms worldly of the security Bnt that la not alL Local ooda in one moment ot time, u tilled Christ for Alcowas n parting of the ways, a groups holics groups are being oatefe a severing of frlend.hlpe. that were Uihed In varioae cities. Tkeao date separation of ties of an are conducted by people who vet? dear. And all because have been alcoholics themselves. experience that had happened Their message Is the seme alx years ago. la tha BBiwer!" Boh Bell wae an alcoholic. For Christ More than 4.000.900 people I 24 yeara he had been a helpless day, our country are enslaved by Ihta victim of strong drink. On marterrible malady. Than are more a however, he witnessed thaa there are victims velous healing of a woman who alcoholics tuberculosis aad eao-cof polio, that hada large goiter. AtOod combined. Heartbreak ond could meal Bob decided that Immeasurable are the Kn him. In touch with a minis- sorrow pungent and powerful trait of Ho got graatsst social probter friend and naked that he pray America's Bob Bell has found the. But lem. Columbia. In his healing. for South Carolina, that night of answer. ao three yeara ago this And May 1151. Boh Bell gave his aad walked heart to God. In the Saab of n August,Hahehadturned been la a business second, be was completely away. heeled of hie desire for alcohol. partnership for If yeara before years But that la not tho ond of tho Ms convereloa. Bnt three ago hia associates wanted 'to story. Boh wanted to share hie a new phase of basis healing with others. And ao In enter of hear and 1951, he eatabUahed Christ for tho retailing Alcoholics, Inc.," In the SUM of along with the sea food buala. ef Florida. Its purpose U to tell And so, Boh, was outvoted . . other alcoholics that "Christ to the company, And he walked away! the answer." But today ha walks la a wonInstantly this organisation be- derful pathway. And the resells gan to grow. In Ms headquarters, 37th Street South, St. are tremendous! 'Ml holPetersburg, Florida, hundreds of There la healing far alee letters are received asking (or ism I All helps, all research, all and means that are aaed to assist help for encouragement Patera-burpeople who are victims are good. prayer. Friends In SL But the genuine aad lasting healnewsand other cities scan papers for names and addresses ing that Boh hasla found and tho heeling of people who are arrested for others are finding OnaknaoH, Then, COpiSl Of I that cornea through faith la Ood. that you have dis- OTHER INCOME long- Other deductions: Interest expense: General Obligation Bonds Water Revenue Bonds Water Bonds Accounts end notes payable win- months. Sell the old radio you're not using. Sporting buyer. goods have Sell produce, stock. x poultry, many live- Amortization of expense of issuing General Obligation Bonds, Water Revenue Bonds, end Water Bonds Election expenses Expense of collecting taxes Sell your services with a classified kL 3.000 READERS EE YOUR ADI A four-lin- e ed ia 90c, payable upon time of insertion. OTHER DEDUCTIONS . Earned surplus g NOTES TO FINANCIAL STATEMENTS MAGNA WATER COMPANY (AN IMPROVEMENT DISTRICT) 1151 NOTE A - The restricted amounts of cash and marketable securities in the reserve fund may be used, if funds are not otherwise available, only to meet interest and principal payments on Bonds. The Board of Trustees resolved in 1955 to levy a tax each year, beginning in 1955, on all taxable property in the Improvement District, in amounts sufficient to meet the interest and principal payments on the 3H ft Water Bonds dated August 1, 1955. Since principal payments on these bonds do not start until August 1, 1958, the Board of Trustees and the purchaser of the bonds have agreed that taxes collected for the years 1955 through 1957, and not used to pay interest, will be placed in the cash reserve fund required by the Indenture for the Water Revenue Bonds. The company has levied the legal tax limit of 4 mills for this purpose during 1955 and 1956, and intends to follow this procedure for 1957. NOTE C - On June 30, 1954, the Company closed its office, dismissed all employees except the Executive Secretary, and old all of its trucks, heavy tools, and work equipment. On the same date, the Company entered into agreements with independent contractors for the performance and maintenance and operations services, and bookkeeping and collection service for the Company, to June 30, 1957. However. on June 13, 1956 the agreements for bookkeeping and ' collection services were cancelled by mutual consent The Company then opened an office and hired office personnel to perform these services. The fees for maintenance and operation! services ere $5,400.00 a year plus hourly compensation at specified rates for certain tervlces. $1,813.50 of these fees was charged to Utility plant amets in 1958. NET INCOME at beginning of year EARNED SURPLUS AT END OF YEAR er NOTE B MINING ASSOCIATION Operating expenses (excluding maintenance and erations services, administrative services, and depreciation charged to utility plant assets: The possibilities of misfortune many and treat So when Johnnie's mother makes her part arrangements, she should remember that invitations containing a or handprinted, handwritten, typewritten date, hour, place the party wiU be held, etc., are subrate of postject to the first-claage of 3c per ounce, whr-he- r mailed in sealed or unsealed envelopes. If the invitations are fully printed, mimeographed, or duplicated by similar machine process, they may be mailed in unsealed envelopes at the third-clas- s rate of 2c each. However, printed Invitations which are of odd fixe or shape, or which are smaller than 2 inches in width or 4 inches in length, or which are larger titan 3 inches in width or 12 inches in length, require minimum postage of 3c each. Post Office employees know how hard mothers work on parties and how much little boys deserve to be happy. AU anyone in er in use. Rent your spare room. Rent your garage during the Water Revenue nc UTAH EARNED Board of Trustees Magna Water Company Magna, Utah We have examined the financial statements of Magna Water Company (an improvement district) for the year ended December 31, 1956- - Our examination wu made in, accordance with generally accepted auditing standards, and accordingly included such teste of the accounting records and such other auditing proordure as we considered necessary in the circumstances. In our opinion, the accompanying balance sheet and statement of income and earned surplus present fairly the financial positioa of Magna Water Company at December 31, 1953 and the results of its operations for the year then ended, in conformity with generally accepted accounting principled applied on a basis consistent with that of the proceeding year. ERNST & ERNST e "From tha AND ounces. Three brothers at home are happy about the new Bister. Utah's mines do more than produce needed metals. They also produce a higher living standard for our state through payrolls, supply purs hates, largo capital outlays and tax payments. Soma of thou benefits are being lost now because foreign Imparts ora forcing metal prices down and mines to dose. Far the goad ef Americans causing lead-xlwa need firm national policy of "Buy American". 4; 1956-8- 3, Lovely Daughter Mr. and Mrs. Joseph G. Vaculin of Magna announce the birth of a lovely daughter on August- 1st. She has been named Mary Jo, and tipped the scales at 8 pounds, 2 Utah loses when mines close Water sales: Flat-rat- e water sales (Including water sales: Meter water sales are Get cash for furniture na 31. Idaho. On Saturday, a parade float made by the Copper Chapter, was in the Harvest Day Midvale fete. Atop the float were Cora Jean Yea Ire, Gerri Hutchison and Joe Rrusatto. offended. Sell clothing carded. December In-ko- night, Frances Baker, Ann Herrington and Patty McDonald attended the dance at Ft Douglas hospital. Refreshments were served to the patient at intermission. ss Au-gu- st Visitors at the home of Mr. and Mrs. P. IL Debs have been a niece, her husband and two children, Mr. and Mrs. Jerry Dees of El Paso, Texas who vacationed in Magna for three weeks and Mrs. Debs' sister, Mrs. Sam C. Hargraves and two children of Wednesday nt er FOUND OOD COULD Ha turned and walked away. Away from t yeara ota bail ..... uta, leaving behind post-llo- the postal service wants is an op portunity to contribute to the sue ecu of the occasion. So dont guess. Call at the post office when you need help on postal matters. Total provision for depreciation '! """"" December 8M $679,725.02 73,814.25 ASSETS UTILITY PLANT coat principally at 31 1855 $574,514.62 53266.90 COMPANY (AN IMPROVEMENT Decrease ZncitiM December $105,209.40 CONTRIBUTIONS IN AID OF CONSTRUCTION Utility plant, contributed by 19,34725 Less allowances for depreciation CURRENT ASSETS customers and others EARNED SURPLUS Cash: On deposit: LONG-TER- Revenue fund unrestricted Reserve fund restricted -Notes A and B Office funds DISTRICT) LIABILITIES M DEBT Obligation Bonds dated 1951, due serially to 1971, less current install- General 2ft March March - 1, 1, ment of $3,000.00 AM Water Revenue Bonds dated October 1951, due serially to October 1, 1971 Note A 3Vi, less current installment of $7,000.00 Marketable securities: Reserve fund restricted Note A: United States Treasury Bonds, 2H, due November 13, 1961 -at cost end accrued interest Accounts receivable: Water Taxes due from Salt Lake County Treasurer Meter Water connections Miscellaneous 1. 34 Water Bonds dated August 1, 1955, due serially from August 1, 1958 to August 1, 1971 - Note B i Unsecured notes payable, bearing no interest, due at Company's discretion when funds become available (includes $5,000.00 due on September 1, 1960) TOTAL Lass allowances for doubtful accounts aad uncollectible taxes DEBT LONG-TER- CURRENT LIABILITIES Trade accounts payable Pay roll taxes and taxes witheld from wages Current installments on long-terdebt Accrued interest payable on long-terdebt Prepaid Insurance m TOTAL CURRENT ASSETS TOTAL CURRENT LIABILITIES INCOME Discount on purchase of United States Treasury Bonds Water sales collected in advance DEFERRED DEBITS DEFERRED Expense of issuing General Obligation Bonds, Water Revenue Bonds, and Water Bonds (tees accumulated amortization: 1956 . $1,120.94; 1959 $827.54) I m 4202.46 $665,425 50 4,59526 $563,165.05 293.40 $102,260.45 $1 i ' |
