Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-04-11

drain that poor aud struggling COM
munity could not stand, Why, we paid
$40 per 100 weight for nails, and then
We started % nail factory and made
nails out Of old wagon tires Az far
back as 1852 the Church attempted to
start the sugar Industry by raising the
sugar beet ana establishing sugar
factory The Church invested In IT,,
and got the people to Join IT, Large
sums were expended, but the expert
ment vas failure. The machinery
was not what it should have been, and
We lacked experience That discouraged
the people, and for a long time It was
impossible TO get them and the bust
ness men and bankers to put capital
into the scheme The Church was APP
pealed to, and it went security for GER
tain bonds to put the industry on it's
feet For years II paid no dividends,
but at last II became a success, the
stability of the enterprise is assured,
and the bonds could be paid off but
the holders will not part with them
until legally redeemahle.
FOR PEOPLE NOT CHURCH
President Young In order to prevent
the people rom paying the exorbitant
lhNNs Ntlhl h1A lol llltI NUAllOlht drought
here, started the lions COOPERATIVE
Mercantile Instltution--the y. G. NJ. L.,
as It Is generally caled--not TO make
money for the Church, but to save
money for the people, I was sent out
through the settlements TO get the peo-
pie Interested, ana TO get them to take
stock They We're slow TO 60 into the
enterprise having been discouraged by
the failure Of the sugar business when
first begun In every instance where
] started branch, I had to head the
stock substitution list myself"
But II II was a church enterprise, "
was asked why didn't the people obey
orders and take the stock?"
The Mormon people aren't built
that way" replied President smith.
NO, indeed" chimed in President
Winder they want to know where
their money is going, and what is like
ly to be the return, before they let Il
out Of their hands"
These cooperative institutions have
been very successful" resumed Presi-
dent smith. while the Church at first
took stock In II 10 show good faith and
to encourage the people, It has very lit
tie Of II at present, Gentiles hold from
% to 30 per cent Of the stock now. I'm
e.
IN any corporations, It owns a Major
fly Of the stock in the Saltair pavilion
at the lake, and the railroad between Il
and the city That enterprise was gone
into by the Church In order to provide
a place where the young people could
nave proper and reasonable amuse.
ments under Church control, so that
they might be protected from improper
, influences and be free from association
with vice and pronlgaCy. II also owns
, 81 per cent OF the Salt Lake theater
/ which was built by President Youna
/ for the same reasons given with regard
/ TO the Saltalr pavilion.
II am charged with being connected
| with all sorts of corporations and bust.
! ness interests, and with using my
/ position for the monopolizatlon OF
trade Some Of these connections
have inherited with my office, as n
/ the case of those ! have just named
But the Church, IN the early days, haC
to take the lead In the work Of de
velopment, IN order 10 make this Z
self"sustaining community.
GENTILEs NOT ABUSED.
I'm the same direction, Its officials
! but not the Church Itself now enCOur
! age and help new and worthy cnterprs
| ea The corporations with which | an
connected are not dominated by III,
Church any more than are simllaI
| organizations here carried on b,
| those who are not of on
membership. Their stock is on the mar
ket, quoted IN the market reports, anC
those who will may buy It, one reason
why am president or director In man!