Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-04-10
Report to the Stockholders Deals
In Tremendous Figures in
All Departments.
DIFFICULTIES OF LAST YEAR.
Much Brighter outlook for Next Sea-
son, Due To Cheaper Material
And Better Sugar Prices.

AT the annual meeting of the STOCK
holders of the Utah-Idaho Sugar COM
pany held this afternoon, at o.c'oeN'
about two thirds of the total capl'ai
of 1.l1OOOO shares were represented III
person or by proxy. President joseph
Il. smith was elected chairman OF the
meeting and II. G. Whitney was chosen
as secretary.
The financial reports for the last
years operations were read by sec
rotary ana treasurer whitney, and
were supplemented by detailed report
of operations which was read by Gen
cial Manager Thomas X. Cutlcs The
report dwet at some length on the un-
usual features of the past years opera
tons which had involved increased eH-
penses i'm labor and material. The cost
of working up the beets had, therefore,
been larger than in any preceding year,
the coal alone had cost 50 per cent
more than the year previous. y special
item showing the increased cost OF OPP
erations was that of sugar bags. which
are given away TO the trade, the bags
always containing 100 pounds of re-
fined sugar. This item, alone involved
an outlay of S146.4 47 As. other Items
of expense We're as follows:
t22,532 TONS PURCHASED.
The beets paid for, amount to 422,5
tons. at a cost including freight, of u
fraction over S5.l7 a ton, u total of
$2,tS7. 1916. SO.
Coal and coke. 1928, 4SS 40,
Limo Rock, S52, 53S "a.
Taxes paid in Utah and Idaho, S12,-
144. 81.
Paid for labor, S43O,00O.
nha tot al TING ull the
company's factories, power plant, etc,
exceeded $4,000,O00.
The charges for interest, insurance
and storage had also been heavier
than ever before, due to the fact that
the company's factories were operated
less than four months, in which time all
the raw material. labor, etc, had to be
paid for, while the sugar had to- be car
ried an entire year in order that the
customers of the company might rely
on being furnished with sugar all the
year rouno. AT the time the financial
panic struck the country, the company
had large amounts of sugar en- route to
the eastern markets, but their custom
ers were unable to pay for it as the
bills fell due, which necessitated stor-
ing the product until it could be sold.
This meant additional interest on bor-
rowed money insurance. storage etc.
Manager Cutters report also went
into great many details as to the
matter of supplies used in the manu-
facture of sugar. 1t was stated that
The company used in its factories A.
about the same amount of steam and
hot water hose. Last year lis, 3G5
yards Of filter cloth were used. while
upwards Of 10000 gallons OF lubricat-
ing oil, So tons of sulphur. and
a host of other manufacturing ma
terials We're consumed,
INCREASE OF 5000 900 POUNDS.
The total product of sugar during
the year at all six factories amounted
10 los, 300.50O pounds of sugar in the
sack, an increase of about 100000
pounds over the year previous.
Manager Cutler spoke hopefully of
the outlook for the coming season,
and said there was a considerable
easing in the labor market, while
PRICES of materials promised to be
much lower. This was evidenced in
the one item of sugar bags. contracts
for which have been placed for next
season at cost of 5000, less than
last wear. The market for refined SUI
gar was also stronger than for some
time past the recent advances being
due to the shortage in Cuha's crop,
estimated TO be 100000 tons less than
last year,
The report states that after having
charged off the necessary amounts for
maintenance. depreciation, discounts,
etc. dividend of per cent on the
preferred capital stock had been set
aside Cor the four quarterly dividends
OF the ensuing year.
The election of the board of direc-
tors to serve for the next year, result
ed in the choice of the following:
Joseph +. Smith. Thomas h. Cutler,
John r. Winder w. S. Mccormick,
John C. Cutler, Heber j, Grant, John
Henry Smith, George Romney Charles
w. Nibley