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Show 'OCTOBER 16 IS 50TH ANNIVERSARY OF Z.CJ.I. Sales of Great Institution This Year Will Exceed $10,000,000 Mark. . Wclnrsilay neit. October 1, wtll be the fiftieth anniversary of the organisation of Zlon s 'ooerative Mercantile Inatitu-tion. Inatitu-tion. Tha mlnutca of the Institution, which havs been carefully preserved, ahow that a number of merchants and prominent cltlsena of Salt laka City were I Invited to he present at a meeting held In the illy hall for in purpoaa of considering con-sidering the propriety of organisation a !-i-ooeratlva men-ant He association. The meeting convened and at 10:40 or-ganlied or-ganlied by electing Horace 8. Eldredge temporary chatrinan and William Clayton secretary pro tern. l.aler a permanent organisation was effected with Brlgham j Young aa preaident. William H. Hooper -vt- premdentr-ticorge A HmHh, -i teorgc (J. Cannon. Horse S Kldredge. Henry ' W ,Mrence and WMIiHm Jennings rll-tectora. rll-tectora. Franklin IV Rtcharda, Henry W. N'Hlshltl, Aureliua .Miner and Joaeph IWoodmsnaee were appointed a eocnmltte to draft a couatitutton and bylaws. CARLV DAY CONDITIONS. I It is Impossible for tha present generation gen-eration of I tan. without having csrefully Invesllgitted the subject, . to realise the ! conditions that exlated In the atale during dur-ing ha early riitya. Merchandtaa waa hauled from the Mmaourl river by 01 ! tpum. a long and tedious journey of SJSSSSSSSSSSSSSSSSSWSSSWSaKW j and the various departments that had I been hUUerto se.wrste stores were brought uuner one roof. '., C. M. 1. being the first eatabltshment In tha West to lead out In department huainesa. In fact, many old realdents claim that Z. C. M. I. wss the first department a tors1 In America. Iater a sixty -foot front store was built lo the north, which later waa rebuilt in 190?, when the entire store underwent a thorough renovation and remodeling. In lr, the period of Incorporation having hav-ing expired, the institution wss relncor- ? orated for fifty years, with a capital of I.077.AOO, CAPITAL INCREASED. In 1917 the authorUed cupltnl Block waa lncreaaed to , Ifi.ftotl.imtj. A 3"l per t ent atock dividend -m declared, which, with sale of slock for cash, brought the uitd up capital up to S.'i.iWO.ooo. This atock la held by eom 1 100 stockholders residing In all parls of the world. Tha cash dividends divi-dends iaid during tins period aggregatea $j,50e.HK. 'A. i M. 1.s auccena la reflected In Ha splendid growth. The flrat year'a sales of the concern amounted to $f2.T&0, the aides In IVI7 reaching to the magnificent tola! of $.70;..4.,, and thia year will exceed ex-ceed lite $10,OtK.uft mark The aagregate volume of ait Irs amounts to almost -U0,-uoit.ontl. , The present aeneral manager, t'olonal Thomas J. Webter. to whose keen bual- i nuo miles, t he actual distance covered Ireing K'oo miles, occupying from three to six months. The mercantile Intereats of the state wer controlled by a few Individuals, who were not slow to take advantage of tern-Itorary tern-Itorary scarcities of goods In common demand de-mand and charge exorbitant prices for them, At this it me calico cost from 40 cents to II a j.ud, and sugar 60 cents a IMttind. COOPERATION IS SLOGAN. A number of the leading men of this locality came to the conclusion that this condition could only be overcome by co-uieratton co-uieratton a store owned by the people, bu (ng direct from the. manufacturers and Importers. In thta wav it waa fait that fair returns would accrue to capital inveated, the profits Int dialrlbuted'among the many and the beat quality of goods be tvough t and sold at reasonable prices. Hence, .ton t'o-oreratlve Mercantile Institution, tetter known aa '.. C. M. 1.. came Into exiaiei.ee. Its organisation oc- 1 cijrted as ststed. tK-totter ii, 1 taa. and business commenced March 1, st9, with atta-ka of dry goods and carpels, clothing cloth-ing store, shoe department and factory, pitiduce, groceries, hardware and crockery, crock-ery, sewing machines, wagons and machinery, ma-chinery, wool and hides and drug store. SUCCESS FROM START. Virtually 7.. C, M. I. Iecame the greal lialance wheel of the mercantile Inteteaia i of thia Intermouuialn legion. I The movement once begun, grew rapid-J rapid-J ly. so that between the orKsnisailon and commencement of business over i45.-O.HI i45.-O.HI had been aubscrlbed. t f llils. $130,-I $130,-I iHtO represented goods, aa five of rhe local ! inert hauls hail fallen in with the mova-1 mova-1 ment and turned over their good a for ! atock in the ronunnv I The difficulties ihut the- new concern ! had to contend ith were Innumerable. neaa acumen, foreaightedneas and un- tiring effort a much of the success of Z C. M 1. la due, wss appointed to that poattlon In Ituc. He entered l he employ J of ',. C. M. I. In June, SVt, waa aptvoint- . ed secretary In 171, later ttecomlng general gen-eral manager, aa stated. Mr. Wetler waa j born in Kxetar, England, coming lo Utah i In la63. .Cooperation us looked upon In the Fast with distrust and suspicion, and Kaatem merchants for the moment denied credit or recognition tn the Institutions representative. repre-sentative. Furthermore, the extension of the overland railroad from both eaat and weat reduced freight chargea very considerably, con-siderably, ao that much of the goods sect se-ct p ted for stock in the company could be had much cheaper than when turned over to tha institution. SITE PURCHASED. In 170 Incorporation took place wllh a paid up capital of t'.'L'O.Oou During 175 a site was purchased on Main street and a brick structure with Iron front bOxSl feat waa erected. Another building of slmtlsr slice was soon added, to the south. |