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Show SUGAR COMPANY AUDIT IS COMPLETED COM-PLETED John A. Hendilckson, former president pres-ident nnd stockholder of tho Wf,t Cache Sugar company mndo public a statement to stockholders that ns a result of a special audit of the books of the company the concern was found to bu In oxcellent financial condition and hij sees no need for I the proposed bonding or sale of pre-ferred pre-ferred stock In grder to finance the fall campaign. Mr. Hendrlckson mado this declaration dec-laration to tho minority stockholders of the company after receiving many ituiulrlji from them regarding the sale of stock because of ho reported report-ed condition of tho company's finances." fin-ances." Mr. Hendrickson slated that tho company was practically out of debt, according to the audit, tho only Indebtedness In-debtedness appearing btlng tho amount am-ount duo ono of tho officers of the company. Ho stated that tho Amalgamated Amal-gamated Sugar oempany had an op-lion op-lion on tho controlling stock of tho company, good until January 1, 1921, ono of tho conditions of which was that this company should loan tho Wt Cacho Sugar company an ' amount not to exceed a million dol-jlcrs dol-jlcrs to lako caro of the fall campaign. cam-paign. i Mr. Hendrlckson stated further. I "Wo havo this year C280 acies of beota promising a most excellent crop. The fields aro looking extremely ex-tremely well. Wo should nt Iho very ' least have 75,000 tons of beets and hla should give not l3 than 150,- l 000 bags of sugar. In view of this fact and tho splendid output of laBt season I feel that tho stock of the Wost Cacho Sugar company should bring at least $150, and I havo advised ad-vised stockholders not to sell for less." Salt Lako Trlbuney |