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Show UTAH-IDAHO STOCK if BE DOUBLED The board of directors of the Utah Idaho Sugar company at a meeting yes terday decided that a special meeting of the stockholders should be called for Tuesday, April 17, for the purpose of amending the articles of incorporation incorpora-tion and increasing the capital stock from $10,000,000 to $20,000,000. In the event these recommendations are adopted by the stockholders two shares of the new stock will be issued for each share of the present stock, all the stock to be of a uniform class. At the conclusion of the meeting the following statement was made by General Gen-eral Manager Thomas R, Cutler: "The board of directors decided to have the special meeting of the stockholders stock-holders called and to recommend the amendment of the articles of incorporation, incor-poration, doubling the stock and issuing issu-ing two shares of the new stock for each one of the old. I am pleased to say that the assets of the company will justify such a step; the e;irninfis ot the past two years, due to war prices we received for sugar, and the profit realized by the company some years ago in disposing of its power plant on the Bear river, having been held in accumulation until the present I time. The issue will represent actual values, with not a dollar of water. "The stockholders are to be congratulated con-gratulated on the favorable showing made in the last few years, especially in view of the hardships through I which the industry passed in 1016. The, total cost of beets was heavier than I ever before in our history, due to the ' advances made in the price per ton i aud to the large amounts allowed the I farmers whose beets were frozen 'many of v,hieh are still in the ground, Iter say nothing of the other increases in the costs of production. Added to that was the fact that the beets ran J about 1 per cent lower in sugar con-i con-i tent than the year before, which en-entailed en-entailed a, heavy loss to the company. I Still another factor was the tremen- dous shrinkage in the beets paid for i before they could be worked. This ran as high as 11 per cent, against an (average of 5 per cent in previous I years The price paid for beets dur-1 dur-1 ing the cumins year, under the new' contracts, will, of course, be much1 higher than last year, the basis being $7 per ton. which with freights, shrinkage, etc. will raise the average total from ?7.7r to SS per ton, but, in Bplte ol thia we hope that then will at rease in the acreage planted, which, if the planting and growing conditions are Favorable and a fair crop la harvested, will enable the company to make a good showing 1 for the- year to come." f |