OCR Text |
Show Supply Company Organized for Ml Benefit of Workingmcn X f Makes Assignment. 'M (l CREDIT MEN IN CHARGE Wl ' OF STORES AND. STOCKtf 'p 'J Mismanagement Is Given asJKji Cause of Diilicnlty Encoun- I'Kv tered by Enterprise. Hjcfc The Commonweal Supply company, I the pet organization of the Socialists of l he city, with a store at 201 South Wcsl jBp;ir-Tomplo jBp;ir-Tomplo street and anotli6r at Holllday, has succumbed In "the battle for lower 'Xy prices." The company made a volun- IHe' tary assignment Thursday In favor of fIy., creditors, and the stock of the two stores .'Bfifey' ha been turned over to the Utah Asso- sJS'iW elation of Credit Men. $f AN i The assignment, while said to be volun- SBb-'- ' tary, was forced by tho nction of iho iBf . credit, men. The West Temple street 'fSBff -store of the company, it is said, has AMif: ' been doing a business of more than 31300 47fB. a month, but because of mismanagement TBlBv. " tins expenses havo boon greater than tho JMfti ' i receipts. The Credit Men's association felt that the Interests of members wero . iMp jeopardized, with tho result that a spo- .Mfftr, clal committee was appointed to look Into JHk.LI the affairs of tho 'Commonweal Supply jfc,' company, and the "voluntary" assign-mcnt assign-mcnt was the result. Credit Men in Charge. A representative of the Credit Men's 'Jy association is now In charge of tlus stores tJBu, df the company. An inventory will bo SBI?1.,. taken Immediately, with tho idea of ar- SCfeoi riving at tho exact amount of availably fi. assets. The settlement with creditors will 'MP8 he made when this Inventory is com? SHfr'? Pl The' Commonweal Suppyl compnnv Kjt was organized about live months ago. The vUSii descriptive booklot, entitled "The Battle jBSJ, for Lower Prices," issued by the com- iflp' pany, names Murray E. King as president and general organizer: George hi. Walts, iBBF? general Held agent, and .Miss Esther Slewarf, special Held agent. Louis P. viBfej II 111 was general manager of the coin- dMfcM panv. The company was formed by 100 IKflte stockholders, each subscribing to one SHe? share of stock at $10 a share Hp1 At the Socialist stato convention on -mUSiM. July !!! the Commonweal Supply co-i- iBS? pany was given the full and unqualified San Indorsement of the Sbclullot party. Alum- aMSW bers were urged io patronize the storc3 Mpp of this company. JHm In the little booklet it is declared that the company Is the "representative of 'mmz the people of Salt Lake In tho battle to mBm supply themselves with the neccssnrlcs Jj9R of life at labor cost." It furthermore Inji says: "TJiis huge enterprise Is to belong JB2 wholly to the people whose earnings are fwSS to finance iL Two hundred fifty thou- -WW sand shares of stock are to be sold at Mififf $10 a share." i iMSSa Hoped for Bright Future. With regard to tho plans of the com- vmS? pany, after it hud made succosses of the ijBffiS stores started, the booklet says: SS "From these small beginnings It will SBS establish stores in every section of Sail Mm Lako City, and beforo the end vf this RJ year will acquire a large tract of land, SB5 close In. for spring planting next year. s-mS From this land, following the most scion- sBl tillc methods of Intensive farming under l-HgS a management, selected from the Agrl- ;:KS cultural college or tho government bureau fflB of agriculture. It will begin the produc- -JE Hon of a sufficient quantity of flour, vflBj meat, dairy products, poultry products, .R vegetables and fruits to supply all its 3E stores and all Its members. From this jMH foundation It. will attain to all that Is MM practical In farm and manufactured prod-w5fc ucts. The principle to be followed is tfV move slowly from one achievement to TB? another until the principle of self-suppiy vHkfl is extended as far as practical." P |