Show SALT UKE AND STATE NEWS SUGAR COMPANY HOLDS ITS ANNUAL MEETING report to the stockholders deals in tremendous Figure 3 salt like lake april A ril 10 at the annual meeting of the stockholders of the utah idaho sugar company held this afternoon at 2 about two thirds of the total capital of shares were represented in person or by proxy president joseph F smith was elected chairman of the meeting and 11 1 1 G whitney was chosen as secretary 1 the financial reports for the last 1 years operations NN were ere read by secretary and treasurer Whit IV hitney noy and were supplemented by a detailed report of operations which was read by gereral manager thomas R cutler the report dwelt at some P length on the unusual features of the past years operations which had involved increased expenses in labor a and nd material the cost corst of working up the beetus beet had therefore been larger than th an in any preceding year the coal alone hado had cost 35 per cent more than the year previous A special item show ing the increased cost of operations was that of sugar bags which abich are given away to the trade the bags always containing pounds or of refined sugar this it item m alone involved involve dan an outlay of 13 43 other items or of expense were as follows the beets beeta paid for amount to 41 tons at a cost including freight of a fraction over a ton a total of coal and coke lime rock I 1 10 taxes paid in utah and idaho 72 for labor the total outlay for operating all the company s factories power plant etc exceeded the charges for interest insurance and storage had also been heavier than ever before due to the tact fact that the companas comp anys factories were operated less than tour four months in which time all the raw material labor etc had to bo be paid for while the sugar had to be carried an entire year in order that tho the customers of the company might rely on being furnished with sugar all the year round A at tho the time the financial panic struck the country the company had large amounts of sugar en route to tile the eastern markets but their customers aej weye o unable to pay for it as aa the bills fell due ue which necessitated storing the product until it could be sold this meant additional interest on borrowed money insurance storage etc manager butlers cutlers Cut lers ls report a aleo ilc o went into it great many det details alls as aa to the matter of supplies supplee used in the manufacture of sugar it was stated staled tha thai the company used in ra fa catorie feet of belting all sizes and about the same amount of steam and hot water hose last year yarda of filter cloth were used while upwards of gallons of lubricating oil 65 tons tong of sulphur cad a host of other manufacturing materials were consumed the total product of sugar during the year at all six factories an amounted to 0 pounds of sugar in the sack an increase ind rease of about 5 lonnes over the year previous manager cutler spoke hopefully of the outlook for the coming heason and said there was wag a considerable easing in the labor market while prices of materials promised to be much lower this was evidenced in theone the ono item of 0 sugar bags contracts for which have beeh placed for next season at a cost of less IS than last year the market tor for refined sugar was also stronger than for some time past ohp recent advances being due to the shortage in cubala crop estimated to be tons less than a last year the report states that after having charged thang ed off the necessary amounts for far maintenance depreciation discounts I 1 continued on page five SALT LAKE AND STATE NEWS continued from page three etc a dividend of 1 aper per cent on the preferred capital stock had been set aalde for the four our quarterly dividends of the ensuing year the election of the board of directors to serve for the next year resulted in the choice of the following joseph P F smith thomas JL cutler john R winder W S mccornack McCorn lck john C cutler heber J grant john henry smith george romney charles W nibley |