Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-04-05
I. C. M. Us
ANNUAL MEETING
The Presidents Report Makes a
Handsome Showing,
SALES WERE OVER s3,5OO,OOO
An Increa,e Of 100000 over Those OF
the Year Previous Liabilities de.
crease 100000 Reservet31O,SOO

The 3ist annual meeting Of the stock
holders of zl1ns Cooperative Morcon,
tile Institution took place this morning
at 10 o'clock Ia the insiltution's oGlce
There was a good representation OF
stock, and after calling the meeting &c
order. President Lorenzo SHOWS report
Tor the fiscal year ending January 5lst,
was read by the secretary, from which
we gathered the following items.
The president stated that the instl-
tuilon's business had been larger IN
volume than Tor some years past. and
the earnings had been more evenly dis
tnbuled among the several depart
ments than heretofore Month b, iconth
sales and receipts had Increased, and
the general demand for goods by Gus
toners was larger last year than usual
The spring trade had opened up very
satisfactorily In the manufacturing
department, which he regarded as
very important adjunct TO the institu-
ton, there had been turned out 1850
garments and 1894 pairs OF boots and
sboes, an OF which he was pleased to
say found ready sale ana gave salts
faction. There were employed In these
departments 49, people and IN the other
departments OF the institution 2i3. Re
referred 10 the Improvements that had
been made at the drug store and said
Il was gratifying 70 know that the
change had materially increased the
business and that general satisfaction
seemed 90 have been given 10 its pat-
r0ns
The sales Tor the year had been
$S.5I4, s2S.47: this was about $500 900
more than for the previous year. The
Liabilities, exclusive Of the capital stock
and reserves, were S209,9S94. This
Is nearly $4,000 less than a year ago,
while the cash and the merchandise on
hand aggregate more than four times
the amount Of these liabilities. The
cash receipts for the year were SS.572,-
5l4 Out Of the profits made, a sum SUI.
ficient 10 pay 5 per cent upon the capi-
tai stock for the coming year was set
aside. and the balance OF the pronta
were used 20 close out the factory ma
chinery and horses and wagons and
teams to replace two old low pressure
boilers by two new high pressure II IL
ers, and the sum Of $4,000 was provided
for the construction OF a warehouse.
The balance OF the profits viii be credit
ed 70 the reserve fund. which now
amounts 20 $50 800.
The president thanked the executive
committee for their indefaugable labors
during the past year In conclusion. no
congratulated the stockholders upon the
success that has met the institutions
operations. and he had much pleasure
IN saying that It's affairs are In a very
satisfactory condition. The prospects
for favorable business conditions for
the current year we're encouraging, and
with a continuation OF the careful
policy which had been pursued now for
some years past he had every reason to
believe the Institution would make as
satisfactory a showing at the close OF
It's hscal year IN 1901. as Il had this year.
The report was unanimously accepted
and ordered filed. The election OF ofii-
GERS and directors followed. The presl-
dent appointed three judges OF election
one OF whom was a director and the
other two were stockholders. After can
wasting the vote the following were de.
clared elected 10 serve until the next
annual elections
President Lorenzo Snow; vice presl-
dent George Q. Cannon; Secretary. r.
G. Weber; treasurer, A. w. Carlson,
directors, Joseph +. Smith Heber J.
Grant. Geo Romney John Il Winder
II. Dinwoodey. y. T. Farnsworth, John
II. Barnes, John Henry Smith, Francis
NJ. Lyman. Anthem II. Lund, William
II. Mcintyre.