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Show Utah Poultrymem To Share Profits Approximately 8,000 Utah poultry-men poultry-men will participate in returns from the distribution of some 560,000 in cash and credit to be made soon by the Utah Poultry Producers' Cooperative Cooper-ative association, it is announced by Clyde C. Edmonds, association general gener-al manager. Of the total, about $25,000 will be distributed by the association in the redemption of some 25,000 shares of its capital stock held by members. The other $35,000 will be set up to the credit of ' poultrymen who have patronized the association's feed department. de-partment. The credits given the patrons pat-rons of the feed department will be subject to redemption in cash or feed at a later date. This $35,000 represents repre-sents the feed department's earning for the past year. Notices have been prepared and are now being sent out informing stockholders stock-holders that the association stock certificates bearing the date of January Janu-ary 3, 1927, will be redeemed at par value, which is $1 per share, when presented at the Poultry association's offices, 1800 South West Temple street, Salt Lake City, any time after July 1, 1932. Interest on this stock for the six months will doubtless be paid when the association's board of directors declares the annual dividend on the first of January, 1933. Retirement of stock is part of the association's plan of maintaining its operating fund at the desired level by a revolving method. A nominal deduction deduc-tion of one cent per dozen eggs is made by the association from the selling sell-ing price of eggs and stock bearing f-'fht per cent interest is issued to the members in return and in proportion pro-portion to their accumulated deductions. deduc-tions. The total amount of deductions represent the association's operating capital and the stock given represents repre-sents the members' respective financial finan-cial interest in the association. Since the association's operating fund has now reached the desired size, under the plan the stock will be retired in the order of its issuance at about the sme rate of speed that the new stock I i issued, it is explained. |