Show PLAN IS REACHED TO REDUCE PRICES Chain of Cooperative Stores Will Be Operated For Consumers Benefit RETURNS JS TO CONSUMERS CONS MERS COMMONWEAL INDUSTRIAL COM COMPANY COMPANY COMPANY PANY ORGANIZED T To Ti cope Ope O with ith the high cost of living th the Commonweal Industrial company will be organized with a Ii capitalization of 2 which w leh h will operate retail cooperative st in every part pan of Halt Salt Lake This Thib is j the result 01 ol the deliberations of ot commercial committee recently ap appointed pointed at a mass meeting of cl to I organize a campaign against high price cf Gf foodstuffs It is Ia the claim of the or that their plan on a cooperative i Im asia is will eliminate the heavy profits that thata art a said to be dragged down to the dis dIe discomfiture discomfiture of the consumer con umer The plan generally is to sell snares lars 5 of stock stO k In the scheme at 10 a ashare share Iiara anyone being allowed to buy Vot ng nt will be on the membership instead of tot l plan so as to avoid monopoly No o proxies pres will be allowed In addition there will wiil be he funds in shares of lQ lJ each carrying dividends but just justs s such ah an amount of these the e shares will be beIs Issued Is as the directors find Tle They will be transferable and may be withdrawn at the pleasure of the Jirec directors tors The flie profits of the business after paying aing t and anI creating a reserve fund will Ti h divided into three parts jar rr cent of the profits will be paid in took tolk as r and lars arcs Fifty per cent will be paid to st In tn proportion to the amount f f th thir ir prospective purchases and seven seventeen ten teen per cent will be bP paid to nonmembers r f the company in proportion to the amount of their purchases Heavy Consumer Benefits Tn In other words when a man whose has lias ba amounted to is remunerated lit lie I will get ten times the amount given t tl th man nian who trades to the extent of 10 of how much mono mon he has halS in the company and this also allO ii lIans ans that shareholders who are also alsoc I c is to me rs of the stores will receive 83 it r lent ent of the profits a dividend c I goes to a he will willIn bt In informed that if be he had been a stock hilder his dividend on his purchases es w have been 66 per pel cent larger There will be fifteen directors and amI in Ider r to prevent rings or cliques 10 r I tent ent nt of the stockholders may call a act Ii ct i ng and oust an undesirable director t any time There will be advisory and arbitration committees i of board members The diree directors directors tors will elect a president vice president t usurer surer and secretary These compose le leL t L executive board whose duties will be bes s Sq i L out nut In the bylaws They The will have c control of the business Articles of incorporation will be filed tiled FB ny ay the organizers of the scheme ant anc ancy hY y believe bellev that the cost of living will t h r materially reduced Established stores 1 all parts of the city cit will be taken in Into of supplies F f a to avoid long hauls P select the board of directors E i that all n classes class may be represented To Endorse Plan Monday TLC 11 e decision was as reached last night at ata n a i in F B Scotts office in the block The commercial committee ts IS accepted and approved the plan and general committee will meet inset Monday at It in the basement of Unity hall ball to 1 it Later the mass meeting will take action The rile subcommittee of the commercial c which evolved the plan is c of E J Daughters R B V Y H HH HH H F B Scott W E Hubbard P PJ PJ PJ J Donohue and S B Wood Tn Th committee decide dupon the plan after 3 interviewing business and working 11 n As soon as the subscription lists are the originators expect from 2500 t t t I 1000 subscriptions Subscription books ll be opened at the banks which will r t as agencies and will retain the funds l til the amount subscribed reaches the pc nt required to do bu |