Show I t I ZC11L The SemiAnnual Meeting and Statement S At 2 oclock on Wednesday afternoon after-noon the semiannual stockholder meeting of Zions Mercantile Mer-cantile Institution was held in the Council House There was a good representation of stock and those present were gratified and delighted with the half years progress This was the twentysixth semiannual meeting YicePresideut William Jennings presided President Hooper being sick The only business busi-ness done was the reading of the presidents report and the declaring of the dividend this being 5 percent per-cent on the stock for the half year This is the largest dividend paid by the institution in-stitution since the panic of 1873 From the secretarys report which was partially embraced in the report re-port of the president the following ligures are gathered The business done by the institution for the half year amounted to 8200089727 This is the heaviest business done in any half year since the Coop started in latiJ The purchases amounted to 8154151002 the amount paid for freighf and expressage ex-pressage aggregated 821496880 The current expenses of the Coop in selling goods is less than 4K percent per-cent and this covers insurance and every expense incidental to the whole business The cash receipts re-ceipts amounted to 288588507 The reserve which has been accumulated now amounts to 4373299 Out of the profits made during the six months and in addition to the amount held to pay the declared dividend there is on j hand to be carried as a surplus fund 82434755 I Prom the presidents report also it is ascertained that the shoe factory fac-tory made during the first four months of this half year 32503 pairs of boots and shoes the cost being about 86J000 About 80000 worth of machinery has been put into the factory recently this when gotten in active and full operation and the hands become experienced ex-perienced the factory will be enabled en-abled to manufacture bearly enough goods to supply the demand and it is even now thought that further additions will have to be made in avery a-very short period In regard to the tannery the report says There is an encouraging progress in our tannery tan-nery business ih re has not only been a larger production of leather than heretofore in any six months I but the quality has greatly improved im-proved The showing here given speaks for itself Z C M I is as solid an institution as can be found any whei f It makes it a rule to sell low on all goods and avoids the catch business of special reductions reduc-tions on some classes to get customers custom-ers for others It is needless to say that with the showing the institution institu-tion is under as able management as can be desiied The long experience experi-ence of Mr William Jennings and his large individual successes are only exhibited in a new form inthe business of the Coop |