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Show SUGAR CO. MAY REDUCE STOCK Stockholders to Meet in October Oc-tober to Settle Question BAJLT LAKE. Sept 1 Discussion of a proposition to reduce the value of common stock of the Utah-Idaho Sugar company was held yesterday by the board of directors of the corporation corpo-ration at the genera) offices in the Vermont luilldlni: Derision was finally fi-nally reached t call a special m '-Ing '-Ing of the stockholders for October 3 at 4 o'clock, and submit the plan of reducing the common stock from its present par value of $10 a share to a lower figure not yet determined. According to the official audit of the company, published February 2S of this year, the outstanding common stock Is listed at $23,780,000, which at $l"i a share means that there were 2,378,000 shares of the common stock held On the stock exchange tMs i secrultv Is now quoted at from $3 20 ; to $.1 30. The resolution announcing the de-termination de-termination of the board to ask the stockholder? to -igrce to reduction in the par value ot the common stock did not embody any specific statement as to what the figure should be after the reduction was made, but one of the directors said atthc close of tho meeting that it w.is the consensus of opinion that the common stock should bo valued at from $o to $6 a share. Those present at the meeting were Heber J Grant president; William H, WattiS, vice president and Kcner.il maniijfer. C. W Xibley. John C. Cutler, Cut-ler, Stephen H. Uo e. James D. Mur-dock. Mur-dock. James A Chlpman and David A. Smith, all of the board, with W. T. I'yper, secretary and treasurer. Director Love said that In the course uf the meeting reports , were read from the various bcet-grou ln sections tributary to the company's factories and that these showed a satisfactory condition of the crop, the August rains having been of material ma-terial benefit. The harvesting of tlT beets, said Mr Love, will begin early in October and will last a little more than three months. |