Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1916-06-15
Grants Pass Sugar
Factory Is Sold

A Salt Lake, Utah, dispatch o.
June 7th brings news that the beet
sugar factory now under construction
at Grants Pass has been sold to tht
Utah-Idaho Sugar Company of Sail
Lake. This company is one of the
biggest sugar companies in the coun.
try and operates over twenty fac.
tories The dispatch gives a history
of the valley factory as follows:
Alexander Nibley, the secretary OF
the oregon-Utah Sugar Company, has
been appointed resident manager for
the Utah-Idaho Sugar Company al
Grants Pass.
"Mr. Sanders said that the COM
pletion of this sale concludes an in
teresting chapter in the annals of the
sugar industry controlled in Salt Lake
City.
ITO help the Rogue River people
obtain a sugar factory Mr.. Sanders
personally became interested in the
movement last August and came here
last September, and within a few days
induced Bishop C. w. Nibley and o.
c. Beebe of this city to assist him in
financing the factory now being built
at Grants Pass.
ITO carry out this purpose, the
Oregon-Utah Sugar Company was or
ganized on September 2S, 1915, and
Mr.. Sanders became its first presi-
dent. Shortly thereafter Bishop C.
W. Nibley consented to become presi-
dent and Mr.. Sanders was made vice
president and general manager;
Alexander Nibley, secretary; o. c..
Beebe, treasurer. After organization
contracts for the growing of beets
were entered into by the farmers and
arrangements then were made to OBJ
tain the necessary seed. Sufficient
contracts for the growing of beets to
warrant going ahead were obtained
about the latter part of December.
and the company proceeded with the
business of financing the construc-
tion of a 6O0-toR Sugar works.
THE plan adopted last December
for the financing of the company was
that of issuing a $4,000 bond issue,
which bonds were shortly thereafter
underwritten by over twenty capital
lists Of Salt Lake City, Provo and
Grants Pass.
During the latter part of Janu-
ary the entire bond issue was resold
by the underwriters to a bond house
and the capital stock of the company
was increased from 100000 to
$4,000 and the underwriters were
allowed to subscribe for the increased
capital stock. The first 500, 900 cap
Ital was subscribed by Messrs. Nib
ley, Sanders and Beebe.
Immediately thereafter a contract
was let for the erection of 600-ton
sugar factory at Grants Pass, since
which time the construction has pro-
ceeded uninterrupted and the factory
will be completed by September / to
handle this years crop, which already
has been planted and said to be in
splendid, condition.
"Mr. Sanders says that the citizens
Sf Oregon and the people of the
Rogue River Valley will welcome the
advent of the Utah-Idaho Sugar Com
pany in that country, and that 1t will
mean a great deal to its future de-
velopment to have such strong finan-
cial interests identified with an Ore
gon enterprise.
"The organizers and stockholders
of the Oregon-Utah Sugar Company
have made profits ranging from $50
to 500 per cent on their investments;
the underwriters in a period of four
months have made nearly 100 per
cent profit, and the bond house, in
the same period, made from to 8
points profit on the bonds sold by
them.
"Mr. Sanders says further that the
present indications are that the Ore
gon field will support several sugar
factories, and it is matter of vast
importance that the development of
this territory be in the hands of
strong institution like the Utah-Idaho
Sugar Company, which company has
a large amount of liquid assets and is
able to build one or more sugar fac
tories without issuing any additional
securities"