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Show 4 COMMUNICATION j V i Editor Standard-Examiner. For your information and publication, publica-tion, will state that an action has bet 11 I filed in the United States court, for I the eastern div ision. at Pocatello. , Idaho, by the Columbia Trust com-' com-' pany, trustee. Salt Bake City. Utah, against tho Beet Growers' Sugar company com-pany of Rlgby, Idaho. The action was brought for tho foreclosure of a five hundred thousand thou-sand dollar (IG00.000) first mortgage bond issue on tho company's properly prop-erly at Rlgby, and tho appolntmnei of a receiver. Twenty-nine thousand (29,000 dollars of the bonds are outstanding and tho remainder of $471,000 are held as collateral security se-curity to claims amounting to $260,-000 $260,-000 The Columbia Trust company, and Wm. Storey, Jr.. represents about $55,000 of the secured claims. Prank B Cook is president of the Columbia Trust company and Wm. i storey, Jr , vice president. Mr. Storey Is also attorney for tthe Columbia' Trust company. Hawlcy & Haw -ley j of Boise, Idaho, are defending tho Beet Growers' Sugar company. Arguments for a receiver were heard by Federal Judge Dietrich at Pocate'lo. last Wednesday and a re-1 celver w-lll be appointed at once. This action originated from a .lalml of approximately $0000. which was I fully secured, held bv the Columbia I Trust company. against the Beet j Growers' Sugar company The sugar; company offered to 3cttlc the claims last January, by an assignment otl equity in granulated sugar, but the 'Columbia Trust company refused to i a ' cept pu ment. I Efforts hae been continuous since 1 last December with the sugar company com-pany to float a $750,000 bond issue, but on account of vicious propaganda! j furnished to bond houses it has been unable to sell the bon Is. The total amount of the assets of! tho sugar company are approximately approximate-ly $1,500,000, and the tota. amount1 of liabilities as of October 1st, 1922. about $550,000 Tours very truly. BEET GROWERS' SUGAR CO A W Gabbey, Vice President. |