The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-04-06

magnificent sum of 1880, 1885, made
during the twenty-six years of it's
existence, an average of 1-3 per cent
on the capital stock, with stock divi-
dends aggregating $414,944.77, is the
record of Utah's greatest commercial
institution, lions Cooperative Mer-
camille Institution. The latest divi-
dend of per cent on the capital stock
of $1,OS9.000 for the six months just
ended has been declared, and it's pay
ment in cash will commence on the
fifty day of the coming month. On
the fifth day of October next the life
of the institution will expire by limita-
ton of law and incorporation will
be necessary. This will be done. the
stockholders having unanimously
agreed upon that course at the annual
meeting of the institution held yester-
day at noon.
President MILFORD Woodruff took a
very encouraging view of the outlook
for the commercial and financial future
of Utah in his annual report to the
stockholders of the institution, and
predicted that the promised prosperity
is now fairly setting in. 1t is not COM
ing with sudden plunge, but rather
in steady, conservative manner, well
calculated TO give confidence to the
citizens generally and the investor in
particular. The business of the insti-
tuition he reported as being much better
than year ago, with every indication
pointing TO a coming season of COM
mercial activity. Periods of depression
are always followed by recuperation
and seasons of great activity, and there
are now many evidences of better
times being hard at hand. Business is
better, money is easier and the patrons
of the institution are meeting their
obligations with great deal more
freedom than was the case some time
ago. Recent advances of a substantial
nature in wheat, hogs. cattle and gen
eral farm products, added to an adj
vancing silver market clearly point to
prosperous trade during the coming
year. President Woodruff outlined the
work accomplished by the institution
during the year just closed and gave
the stockholders A clear insight into
the general business and financial con-
dition of the Incorporation. In closing
his report he stated that while the in
crease in the business OF the year just
closed, as compared with the previous
same period, had not been so great as
at the close of other and more gener-l
ally prosperous years, yet he was of
the opinion that the stockholders had
every reason to congratulate them
selves upon the showing made, and all
must of necessity admit that the in
Stitution had done well. The manage
ment was congratulated most heartily.
The sales for the year showed a sat
isfactOry increase over those of the pre-
vious twelve months and aggregated the
sum OF $3.50. 600, while the net profits
were S5S, 554.24. The receipts for the
year were S2,311, 900, while for freight !
alone the institution paid out the sum
of $164,OO Even after the payment
of the dividend just declared there
will be a handsome sum to be cover
ed into the surplus fund. Dividends
are always earned before being de- /
clared.
In his report the president called |
the attention of the stockholders to |
the fact that the incorporation will /
expire by time limitation on the 5th .
day of October. and he recommended /
This recommendation was speedily |
adopted. The new incorporation will |
be for either twenty-five or fifty |
years, more than likely the latter.
AS before stated, the dividends paid |
during the past twenty-six years
have aggregated the sum of $780,,
1885,. or just 9.O56.45 less than $1,000,
900, while in addition to that amount |
the sum of S414, 944.77 has been added |
in capital stock dividends. The /
average dividend payments on the |
entire capital stock has been 9 1-3 per
cent.
All of the reports submitted showed |
the institution to be in admirable
condition, financially and otherwise, |
and the pleasure of the stockholders
was very great. Superintendent |
Weber and his able associates came
in for a great deal Of praise for the
manner in which the
affairs Of the institution have been
conducted during the past year.
Quick, decisive and successful These
are the great characteristics of DR..
Prices Cream Baking Powder. Quick
IN action, decisive in results, and al
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