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Show Convention Held By Penney Concern Managers of Golden Rule Stores in Meeting at Newhouse Hotel. HI- . rertorate Klected. President Says Co-operative I'lan Is Producing Some Results. With more than 125 store managers man-agers and directors present, the convention con-vention of the J. C. Penny company. owners of the Golden Rmle stores of the western country, opened Monday morning at the Newhouse hotel in Salt Lake City. The managers will convene there over a period of two v eoks, when many of them will leave on a special train for New York, where buying will begin. A report made by J. C. Penney, president of the company, Monday stated that last year's business amounted to $8,500,000. Plans are being. formed at the meeting to make the present year a recordbreaker for the business, and it was stated Monday Mon-day that the stores expected to clear the tremendous amount of $12,000,-000 $12,000,-000 during the season. Election of directors took place Monday with the result that the old board was re-elected. They are: J. C. Pennev. Dresident: E. C. Sams. E. J. Neighbors, D. H. Mudd, J. I. H. Herbert, J. M. McDonald, George H. Bushnell and G. G. Hoag. The majority ma-jority of these men formerly lived in Salt Lake. Plan Is Co-operative. When asked Monday night regarding regard-ing the co-operative plan used by the Penney company and its monstrous growth within a few years, Mr. Penney Pen-ney eaid: The origin of the Penney store started fifteen years ago in Kemmerer, Wyoming. During this time it has branched out from a small mercantile store into more than 125 modern business institutions. It is strictly a western organization, organi-zation, reaching only to Michigan Michi-gan in Jie pa;tr which state was added recently. The branches are managed by western men and these are selected carefully. They are not simply employees of the company, but stockholders, stockhold-ers, and as part owners they lend their every effort to make their business one of success. liecome Invaluable. They are taught the art of salesmanship, economy and buying buy-ing by experts employed by the company, and within a Short - time become almost invaluable. This co-operative system more than any other, is responsible for the tremendous growth of the Penney business and its success. During the entire per iod of the Penney business I can t remember of but six managers who have left the company after becoming interested in the business. busi-ness. The directors of the company gave the stockholders a banquet at the Commercial club Wednesday night. Meetings of the managers and directors di-rectors will bo held each day at the Newhouse hotel. - |