Show PAR OF SUGAR STOCK REDUCED TO 6 A SHARE stockholders of the ille utah idaho sugar company at a special meeting buea day endorsed indorsed Indor sed the recommendations ot of the board of 0 directors to reduce the par value ot of the common stock from from 10 to 6 a a share the meeting wis well weld attended probably the best at tended il in the history ot of the organization X and after a thorough discussion of 0 the situation the directors recommendations ions were indorsed endorsed indor sed with but a single dissenting vote in explanation of the proposed change in ili the par value ot of the stock it was set forth that the comp company anys balance sheet showed a deficit ot of ap proximately and the proper depreciation charges would reduce the companas comp ompa anys nys assets another it was explained that these items did not at this time in reality represent cash but that they would be apparent in case of liquidation liquid aion alon by jay reducing the par value ot of the tha common stock from 10 0 to 6 1 the he com banys cap capitalization 1 vitalization is lowered from to this is divided between comdoll common shares with a par value of 6 a share and preferred shares with a par value or of 10 a share of these amounts there are buta but 9 coul corn mon shares and preferred shares outstanding the capitalization ot of the company was advanced to luring during the war period following appraisals of the corporations holdings by independent engineers since the war however there has been heavy depreciation in plants and equipment and it was deemed i advisable by the board of directors to reduce the capitalization to conform to the value of the property under the capitalization as aa authorized tuesday by the stockholders although the par value of 0 the common stock la Is used fixed at 6 a share tile the management estimates that there is actual actual value ot of or more behind every share of common stock |