| Show J Z I C. C fIl M. M i HEADS BANQUET HOSTS President Smith th Recites History His flis- Flis- Flis tory of operative Co-operative Mercantile Mer l cantile Enterprise DIVIDENDS DECLARED T. T G. G Webber General fan Manager Man Iau ager agel Praised for Shrewdness Shrewd Shrewd- ness in Management l A As tho Iu gueto sto or of tho directors ot oC tho Z C C. C M. M r. r I. I of ot tho the employees of ot tho the local ocal Industrial departments of ot that In- In together with a number of ot the heads of ot departments enjoyed tho the twentieth m annual b banquet yesterday a afternoon Amon Among the distinguished guests were vero President ent Jospeh l F. F Smith pro of ot tho the Z C C. M. M I. I L. L A. A H. H Lund and C. C W. W V. V Penrose of ot the first presidency dency Heher Heber J. J Grant George Albort Albert Smith George Georgo Romney and John R. R Earner melD members bors ot of tuo tio board of ot di di- di rectors Under a generous scheme of oC decoration decora decora- tion holiday colors prevailing one of ot tho the large larve packing rooms on the second floor of ot the tho factory building on South Temple street stroet was transformed Into A banquet banquot room The Tho two lon long lone tables wore beautifully decorated with flowers furnished b by Harry Harr Phillips one of ot tho the factory factor foremen Tho banquet was wu od under direction of George C. C Riser RIserS foreman of the makIn makIn making mak mak- In ing room of or the sho shoe factory George 8 S. McAllister manager of or tho the woe thee factory factory fac fac- tory acted as toastmaster A musical program was rendered by the Z C. C M. M I. I quartet composed of or E. E J. J Drain Do Iann Hyrum Christensen an 1 L. L A u. u F. F S. S In the absence of ot T T. G G. Webber general general gen gen gen- eral manager of or the Z Z C C. M. M f. f I. I F. F S. S rInger assistant made madea a brief address extending the greetings greet groot- ings of or the tho season to tho and wished them thorn all nil another happy and prosperous year ear An invocation was wa offered b by Alonzo Young President Smith who waR wan the principal principal prin prin- cipal speaker at the banquet reviewed of or the tho Salt SnIt LA Lake the history KG valley declaring that If It It had not bce been bean for tor forthe or orthe the Inspiration of or Prophet Joseph Smith tho the valleys of ot these mountains w would uld be bc Inhabited by those who camo came here In search of ot gold Sold and sliver silver only and not b by those who came In search pearch of or freedom and to worship God and arid to enjoy enjo the liberty of or serving their follow tellow tel fol tel tel- low JO mon men without hindrance I I enjoyed tho the privilege e of ot bein being present at the Inauguration of or the tho zion sion operative Co-operative Institution President rl dent nt Brigham Young called us to together in tho old cIt city hall hail It was as In Wo 0 had learned arne 1 b by sad experience that there thoro existed a combination of ot merchants merchants merchants mer mer- chants to hold up Some of ot them demanded from five to ten times as much as the cost of or the goods which they sold and the people were helpless help help- less We e could not change matters because ire we C were at tho the mercy of or those who held up tho the prices and nd who held the reins All Mi Soo goods s cam across the tho pl and were cO costly but t tg have u e to pay from five to ten tan times limes as much n as goods were worth became rather bur bur- ci enso mc Wan n Predicted President Brigham Young Toting and his associates conceived the Idea of ot organizing or or- organizing a operative oo and Invited all the people to holders at a share I was one of ot the tho first subscribers I heard many of ot the leading brethren remark at the cloe dope of ot the tho meeting that In la th the th last I shall see seo of ot that money That was waa tho the general opinion Many rany said Baht It Wa was simply going Into another church failure I have o been associated with tho Z C. C M. M r. r I I. I since inc that day and I have haye en enjoyed enjoyed en- en joyed the fruits of the enterprise I have ha very erv splendid Interest on my investment The time came once when because of ot reverses and deeper Investments investments invest Invest- ments meats In improvements that It was not possible to pay par a dividend Money loney was borrowed that the tho dividend might bo be paid and since that time a a. dividend has never been bean passed paRsed and we 0 have havo grown stronger and stronger and tho the Z f C. C fL M. M I. I is toda today the most substantial I mercantile Institution in Utah Ii I i would not bo be afraid to bet that there I Is no better conducted or more substantial substantial sub sub- business In th the United States The SUCCORS success S of ot tho the Institution IB la due to to a a. large tho the prudence economy econ ocon- omy wisdom and anc sound Judgment of or Mr Ir Webber George Romney chairman n of or the tho board of ot directors who has been with the Z C. C M. M T. T for tor nearly half halt a a. cenI cen- cen I tury spoke of oC the prosperity In tho the cai cast t declaring that there Is too toe much prosperity In Salt Lake particularly with the tho young oung women It Is n not not t tho the hl high h cost of living toda today he said but living high that affects us us He said that the people ol or today do not appreciate their blessings and he urged everyone to live lIvo within his means Tho The employees rendered a vote of ot thanks to the tho directors |
