Show MAGNIFICENT SHOWING Great Dividend Payments Made By Z C fl I WERE ABOUT TWO MILLIONS THIS IS THE RECORD FOR TUB PAST TWENTYSIX YEARS President Wllforrt Woodruff Took n Encouraging View of the Prospects Pros-pects For the Future In His Annual An-nual Report Sales of tlc Institution Institu-tion Last Year Aggregated Two and n Quarter Millions Provo Woolen 3IIIIs Purchased the First iSlE Wool Clipped Guano Case Dividend payments aggregating the magnificent sum of 199094355 made during the twentysix years of Its I existence an average of 9 13 per cent on the capital stock with stock dividends I divi-dends aggregating 41494477 is the record of Utahs greatest commercial I institution Zions Cooperative Mercantile Mer-cantile Institution The latest dividend divi-dend of 4 per cent on the capital stock of 1089000 for the six months Just ended has been declared and its payment pay-ment in cash will commence on the fifty day of the coming month On the fifth day of October next the life of the institution will expire by limitation limita-tion of law and a reincorporation will be necessary This will be done the stockholders having unanimously agreed upon that course at the annual meeting of the institution held yesterday yester-day at noon President Wilford Woodruff took avery a-very encouraging view of the outlook for the commercial and financial future of Utah in his annual report to the stockholders of the institution and predicted that the promised prosperity is now fairly setting in I Is not corning corn-ing with a sudden plunge but rather in a steady conservative manner well calculated to give confidence to the citizens generally and the investor in particular The business of the institution tution he reported as being much better than with indication a year ago wih every indicaton pointing to a coming season of commercial com-mercial activity Periods of depression are always followed by recuperation and seasons of great activity and there are now many evidences of better times being hard at hand Business is better money is easier and the patrons of the institution Are meeting their obligations with a great deal more freedom than was the case some time ago Recent advances of a substantial I nature in wheat hogs cattle and general gen-eral farm products added to an advancing 1 ad-vancing silver market clearly point to prosperous trade during the coming J I year President Woodruff outlined the work accomplished by the institution insttuton I during the year just closed and gave I the stockholder a clear insight into the general business and financial condition i con-dition of the incorporation In closing his report he stated that while the increase in-crease in the business of the year just closed as compared with the previous same period had not been so great asi i at the close of other and more generj ally prosperous years yet he was of the opinion that the stockholders had I every reason to congratulate themselves them-selves upon the showing made and all must of necessity admit that the institution in-stitution had done well The management manage-ment was congratulated most heartily The sales for the year showed a satisfactory I sat-isfactory increase over those of the previous pre-vious twelve months and aggregated the sum of 2250000 while the net profits were 5855424 The receipts for the I year were 2311000 while for freight J alone the institution paid out the sum I of 164000 Even aLter the payment I of the dividend just declared there wi be a handsome sum to be covered I cover-ed into the surplus fund Dividends are always earned before being declared I de-clared In his report the president called the attention of the stockholders to the fact that the incorporation will expire by time limitation on the 5th t day of October and he recommended that a reincorporaition be effected This recommendation was speedily adopted The new incorporation will be for either twentyfive or fifty years more than likely the latter A before stated the dividends paid during the past twentysix years have aggregated the sum x > f 1990 94355 or Just 905645 less than 2000 000 while in addition to that amount the sum of 41494477 has been added in capital stock dividends The average dividend payments on the entire capital stock has been 9 13 percent per-cent All of the reports submitted shoed the institution to be in admirable condition financially and otherwise and the pleasure of the stockholders was very great Superintendent Webber and his able associates came in for a great deal of praise for the conservative manner in which the affairs of the institution have been conducted during the past year |