Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-07-08
The AmaIgamated Now Owns Three
Plants.
CAPITAL ISSUED is s2,5OO,OOO
The preierred stock Has No Voting
Rights, Owner Of Common stock 40.
lag All the Elecdug of Officer.

! STATE tnbl Tue ueai Dy WflCn tue Alildl-
gamated Sugar Co, absorbes the La
Grande Sugar Co. Of La Grande Ore
gon. has been contaminated,
Those stockholders of the latter who
desired, obtained sl25OO per share cash
for one-haf their holdings. and stock
in the Amalgamated for the other half,
at the rate OF one share preferred, and
one-half share common. BY this
transaction, the Amalgamated now
owns the plants OF the old Ogden Sugar
Co., the Logan Sugar Co. and the La
Grande Sugar company
What the new stock Of the Amalgam-
ated WI be quoted at when issued, Is
matter that Is exciting a good deal
Of guessing among brokers. The art
icles Of incorporation provide that only
the common stock Is entitled to vote,
the preferred having no voting rights.
This fact. with the further fact that
the dividends on the preferred are linn
tied to G per cent, inclines brokers to
the belief that the main speculation
will be in the common stock, as 1t is
pointed out that either one OF the three
factories can earn enough to pay the
dividend on the total preferred now is
sued Q70l0 shares, or 81, 700.1 1901
The entire amount of capital issued
is 255i5 shares or $2,551 10000, divided
as follows;
Preferred. Com.
Ogden Sugar Co... 49,. 6,5lO 1886
Logan Sugar Co.. :. -. $500 $3.50
La Grande Sugar Co.. -, 1900 1000
Totals shares. -. ...lI0lO S,5O5
The provisions In the articles Of in
corporation regarding capital and diyi-
dends are as follows.
Article 5-The authorized amount Of
the capital stock of said corporation
shall he S4.O00,0OO which shall be d.
vided into 10000 shares, Of the par value
of 500 each. Said capital stock shall
consist Of 26666 shares of preferred
stock, and 1884 shares of common
stock, and all Of said stock shall be nom
assessable. Dividends of per cent per
annum shall be paid each year upon all
preferred stock issued and outstanding,
II the earnings Of the corporation are
sufficient to pay the same. Such diyi-
bends shall be payable quarter-yearly;
that Is to say one and one-half per
cent shall be payable upon the first day
Of January, the first day Of April the
first day Of July and the first day Of
October Of each year; provided,
that the first dividend upon
such preferred stock shall not be
payable until the first day Of October,
1902. II the dividend upon said pre-
ferred stock does not reach per cent
in any calendar year, no dividend shall
be paid upon the common stock. until
the dividends paid upon preferred stock
shall aggregate per cent for each year
since the LIST day Of October 1903, or
since its subsequent issue. After the |
owners or holders of preferred stock |
shall have received per cent dividend |
upon their stock, the remainder Of the
net earnings OF the corporation, unless |
used for other corporate purposes. or
set apart for future corporate or diyi- |
1end purposes, shall belong and be pay
able to the owners and holders of the
common stock"
ARTICLE 6.
" 49, 1900 shares OF said preferred
stock, and $685. shares Of said common
stock, Of the said Amalgamated Sugar
company shall be disposed OF as fol-
lows, to-wit. 65lO shares OF preferred
stock, and 1926 shares OF common
stock, shall be issued TO the stockhold-
ers Of the Ogden Sugar company; that
Is to say, two shares Of preferred stock
and one share OF common stock of this
corporation shall be issued for each
share OF the capital stock OF tie Ogden
sugar company, when the same IL sur.
'endered by the owner or holder there
"; and $500 shares OF preferred stock.
md $3.50 shares or common stock OF
his corpoatlon shall be issued TO the
Of the Logan Sugar Co:
hat Is TO say. 100 shares of preferred
took and SO OF one share Of common
took shall be Issued for each share OF
he capital stock Of the Logan Sugar
ompany, when the same is surrender
d by the owner or holder thereof. The
1856 shares Of preferred
took, and eS29 shares Of common
took shall be issued and disposed OF
IS shall be hereafter provided by a
majority Of the directors OF the Anal.
amated sugar company"