The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-02-17
COOP DECLARES
EXTRA DIVIDEND
Directors Decide to Distribute
3 Per Cent More Among the
Stockholders.
RAISE TOTAL DIVIDEND
FOR YEAR TO Is PER CENT
Last Years Excellent Business
and This Years Outlook
Reasons, Say Directors.

An extra dividend OF per cent, or 10
per cent for 1911, as against T. per cent
for 1910. is the substantial and crafty
ing Gift made to the stockholders Of the
lions Cooperative Mercantile institution
by the directors of the company at their
annual meeting Thursday afternoon,
The increased dividend is made posi-
BILE by the excellent business done last
year and by the hopeful and encourag-
Ing outlook for business IN the present
year. IL has always been the policy OF the
company to declare It's dividends ahead
OF time, and the reserve on hand ana
the prospects for 1911 are such that the
Increase OF per cent in the velvet To
be distributed among The stockholders
this year was deemed advisable by the
directors.
The dividend Is payable semi annually.
Four per cent regular dividend and 3
per cent special dividend VIII be paid In
April. and per cent regular and per
cent special will be paid in October
T. G, Webbcr. superintendent OF the
organization, is naturally very well
pleased with the results which have
made the increased dividend possible. as
are all others concerned, and after Thurs
days meeting he said:
Outlook Is Brighter,
1T is naturally gratifying that such
action In the matter OF dividends as was
taken by the directors is possible That
increases In the past few years. and: as
the action shows. to what we consider
a hopeful outlook for the present year.
This years dividends were really
earned in 1910, Last year was good
year. and 1909 was On especially good
year for business. Though 1911 is young
yet the outlook is hopeful and encour-
aging, and I believe we shall have no
complaint to make when the twelve
month Is ended
The growth Of the H. c. NJ l. has been
BUSINESS March /. 1869. and the large ad-
ditons OF floor space. window space.
frontage and stock. completed in the lat
ter part of last year: were made abso-
Ing volume Of trade. The institution was
organized by Brigham Young October 10,
1868, the chief purpose being TO regulate
trade for The benefit OF the people Of
Utah,
As a result of the cooperative move
meut more than 100 such stores have
been organized throughout the state
owned for the most part by the people
locally. but getting their supplies in
large part from the parent institution.
The annual sales of the institution from
the beginning have averaged more than
50 ,000. 900 and are now much over $1,000.
600
Shoe Factory Busy.
The management has kept progress
with the advancement of the times. and
in branching out in the department bust
along general mercantile lines. In con-
nection with the big store the shoe
factory is kept busy all the time and
turns out more than 500 pairs Of boots
and shoes per day, while the clothing
factory, manufacturing overalls, jump
ers and other cotton clothing. is kept
equally busy supplying utahns particu-
larry with Utah made goods
Though not in the same building, a
well-stocked and equipped drug store is
factor in the stablishment's success.
Only routine business. along with the
declaration Of the dividend. was trans
acted at Thursdays meeting, The re-
port OF Superintendent Wcbber cover
Ing the 1910 business, was read and was
declared satisfactory.
There are a large number of Il. G. NJ. |.
stockholders scattered throughout the
state and TO all OF them the extra 3
per cent dividend and the 1atterins
suits which have made Ii possible. to-
gether with the encoura gmg reports on
business and the outlook for The new
wear, will be especially gratifying.