| Show THE Z C M I Visitors to Salt Luke City cannot fall to be attracted by the letters Z C IL I over tile front of a large building on Main street They are the Initials of Zions Cooperative Mercantile Institution Institu-tion which Is one of the greatest commercial com-mercial corporations on tho Pacific slope It was organized under the Immediate Im-mediate supervision of BrIgham Young tho distinguished Mormon president TiJctoficr 16 1S63 and business commenced com-menced under Its auspices in March 18C9 It was designed to establish in business affairs a similar cooperative system to that which settlements were built and Irrigation was conducted by the early colonizers of Ltah The capital capi-tal stock was offered to every one who chose to Invest the shares being placed at 100 each Goods were to bo purchased pur-chased or manufactured at the lowest possible cost commensurate with good quality and sold at a fair profit to be paid lu dlvIdendsXq the sharohold ers The people wfiro encouraged to buy at the Institution In preference tp supporting transient establishments Tho first years Hales amounted to 12 0700 Branch institutions wero es tablished pt good trading points In dif ferent parts of tho Territory and Independent Inde-pendent cooperaUve stores were opened In many places making their wholesale purchases at Z C M I Its business gradually Increased and in 1870 It was Incorporated for a period of twenty five years The spot occupied by the present building was purchased In 1S75 and a brick structure erected with an Iron front three stories high with stone basement which has been added to until Its frontage measurement Is 160 feet and Its depth 315 feet From the rear of the store proper a fourstory brick building extends to South Temple street 165 < feet with a frontage of 50 feet This Is used ns a factory for making boots and shoes overalls duck clothing etc etc It is furnished with the latest and very best machinery and most excellent workmanship is displayed dis-played in Its manufactures The three floors of tho main building are divided Into different departments each In charge of a competent person suited to that specialty and all kinds of merchandise are kept on sale V the first floor being devoted to the retail trade and the upper floors to the wholesale whole-sale business It Is well lighted chiefly from the root and supplied with stairways stair-ways and elevators and with electric illumination I I I Z C M I was rclncorporated in 1895 for a period of fifty years with a capital capi-tal of 1077000 Taking the > businos from the beginning Its annual sales have averaged over 3000000 It has paid cash dividends to its stockholders in the sum of 2530000 besides a large amount In stock dividends It maintains main-tains a reserve fund of about 100000 It employs 275 persons in the main store and from 150 to 200 persons In the factory and has a payroll of more than S 25000 a month Tho first president presi-dent of the institution was Brigham Young the present president is Joseph F Smith It has a vicepresident secretary sec-retary treasurer and board of directors direc-tors elected annually by the stockholders stock-holders Col T G Webber Is the general gen-eral superintendent He was the secretary sec-retary for almost from the beginning He watches over all the business affairs af-fairs of this great institution with quiet dignified and diligent care is courteous and affable yet a strict disciplinarian and everything in the establishment is conducted with j neatness and dispatch The financial standing of Z C M I Is not excelled by any mercantile Institution In-stitution in the country It buys for cash and obtains the benefits arising therefrom I It sells Roods throughout the region of the Rocky mountains Its name Is known from ocean to ocean Its history in one grand success Its prospects are brilliant In the highest degree and it is recognized as a solid beneficial and permanent mercantile I and manufacturing Institution V I I V IVV J V VV i p ifi V SP I I Jr LE TOY GABOON i Of Cardon Jewelry Compnny Logan |
