The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-09-15

price to as much as the patrons wou
stand.
President Brigham Young was a man
of deeds and set about improving the
situation With his associates "a me
Church OF LatJer-day Saints, zion :
Cooperative Mercantile Institution
was organized on Oct. Is, 1858, ana was
ready Tor business with a large stocA
in hand early in 1869. The name was
too long to be handy. but the Initials
Il. c. IA. I. were e~uphoniOus as We'll as
expressive. In the thirty-tour years
since that time they have come 10
stand for one OF the strongest mercan-
tile establishments in the II None
in the world-an6 it's business is trans
acted with first hands" the world over
has higher financial standing there
has never beer a blenliSh upon It's rep
utation. Its stock is widely distTib-
uted and firmly held, commanding At
this time more than 40 per cent pre-
MUM. There are coo names on its
share list. and its shareholders are to
be found in all the states and in some
foreign countries.
President Lorenzo Snow is at the
head of the institution, and most OF the
directors are members of the dominant
church. but there are quite a number
of "Gentiles' in the share list. and the
institution commands the patronage of
all alike
1t has beer successful from the start,
the first years sales amounting to 81
$50, roo. II was incorporated in 1870 for
twenty-five years n was ~reincorDor-
ated in 1895 for fifty years longer with
a capital of $I.077 600. and has now a
surplus fund of 1852. $685.. Its second
years business. the first after incOr-
poratiOn, aggregated 81, 100000, at prices
Iar above those of the present. and,
therefore. representing a much smaller
quantity of goods handled. BY the
end of that year branches a been
established at Ogden, Provo, Logan
and at idaho Falls. in the ~neighbor-
ing state. and many stores of a sim
liar character all over their territory
have obtained their supplies through
the u. G. NJ. l., enjoying and profiting
by it's facilities. It's influence has
served to regulate the trade of the
entire intermountain country and
greatly for the benefit of the masses.
which it has constantly sought to
serve. ---
It's business has grown apace until
its store rooms occupy nearly $4,000
square feet of floor space. 1t is di-
wholesale dry goods and notions; (b)
grocery; (c) hardware; I'D boots and
shoes and leather; (e) glassware, Chi
navarro and crockery; 90 carpets and
house Furnishings: go clothing and
mems furnishings: Ch) retail depart
ments. each under special managers.
In 1888 a factory with $4,000 square
feet of floor space was erected, n
was uippe with the latest pattern
of machinery. It was placed under
competent management and from hat
time to this has been in constant oper-
alton, always paying Dividends. 1t is
mainly devoted TO the manufacture of
boots and shoes and is now running at
its full capacity. turning out etween
400 and 500 pairs of shoes a day. Adj
ditional machinery has been ordered.
The clothing factory is experiencing an
even larger increase, and their daily
output is sixty dozen overalls and other
duck garments.
The factory employs 175 hands and
the company takes much pride in the
fact that il has always been able to
pay better than eastern prices to it's
employees.
Extensive repairs and enlargements
of Its store rooms are just
ing, the increasing sales. now amount
ing to more than $4,000. 900 annually.
requiring more room. About $50 per-
sons are also employed in the main
store, the combined payroll amounting
to more than $40. 900 per month.
The officers and directors are: Lo-
renzo Snow, president; Joseph F.
Smith, vice president; Thomas G..
Weber, secretary; A W. Carlson,
treasurer; and H J.. Grant. G. Rom
ney, J. r. Winder, II. D~inwoodey. p.
T. F~arnsworth, J. r. Barnes, John
Henry Smith. +. NJ Lyman. Anthem
II. Lund, William H. Mcintyre and
Reed Smoot. directors
Mr.. Weber has been secretary of the