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Show A REMARKABLE SHOWING. According to appointment, the stockholders of the United Order Manufacturing and Building Company met in the Second Ward school house on Monday evening of last week, which, after the usual preliminary business, the secretary read the following report. To the stockholders of the United Order Manufacturing and Building Company of Logan: I have the honor to present to you at this time, the annual report required by the company's by-laws, showing as far as I can, the present financial condition of the company and its business for th year ending Dec. 31st, 1879. <br><br> The capital stock of the company at the close of the year amounted to $19,830, while the company owns in real estate and saw mill property, $1,391.83?, showing $1,914.83 more property than the stock calls for. This difference has necessarily been made up from the profits of the business. The business done in all departments during the year amounts, in round numbers, to $[unreadable]. After paying all expenses and including losses amounting to $[unreadable] as follows: to G. J. Hollister, as government tax on store scrip, $300, ?? to government agent, $193; and loss on the duty?, $65? we have still left a net profit on the year's business of $31,313.13, or a trifle over 3 per cent. The value of available stock on hand, at the mills and stores, as shown by our inventories, together with accounts due the company amounts to $15,???.16 while the company owes $1870.?? <br><br> The principle improvements made during the year are the paint shop in rear of the furniture store on Main street which cost $1,???; the addition and changes at U.? Sotre, $301; a new shaping machine, $???; and the extension of the water pipes from Logan water works to the mills in Logan, $100. The notes on the furniture store property have been paid, so that, with all other of the real estate, it is free from encumbrance. <br><br> There have been employed on an average about forty hands and the amount paid in wages goes over $??,???. These hands have paid on their wages upwards of $?,??? in tithing. <br><br> In view of the growing interests of the company and being desirous of extending its business and giving employment to as many people as possible, the directors have thought it advisable to declare a dividend of 10 per cent and use the surplus in opening new, or strengthening the branches of business we already have. The dividend will be paid as follows: One-tenth in merchandise and the balance in homemade furniture , or form the company's mills, or in capital stock. The company will also pay two per cent in merchandise on the U. O. Store "trade checks", and thus give to those who have patronized that institution a share of the profits whether they be stockholders or not. It will require upwards of $7?? To pay this check dividend, which when considered with the ten per cent, dividend may not be called unprofitable. <br><br> I desire to make favorable mention of the diligence of those who have been entrusted with your business in the different departments. Their honest labors have greatly contributed to the company's success. <br><br> None can say but that this company has been blessed and prospered and saved from serious accidents; for all of which let us feel grateful to the proper source. Respectfully submitted, Chas. [Charles] W. Nibley, Secretary. <br><br> [unreadable section] some questions were put and answered and some spirited and appropriate remarks delivered bv M.? Ballrad, John B. Hatcher and Robt. [Robert] Davison; the committee on nominations Previously appointed presented the following names of persons who were unanimously elected to serve for the ensuing year: H. Ballard, R. Davidson, C. O. Card, P. N. Petersen and Bill? Bell, directors, C. W. Nibley, secretary and C. W. Card, treasurer. <br><br> On motion it was decided that all dividend accounts be settled during the present month, otherwise the secretary shall pass such credits to the capital stock account of all who fail to settle within the time mentioned. <br><br> It was the sense of the meeting, as shown by vote, that the tithing on the dividends be deducted by the secretary and e reported to him to the proper tithing office to the credit of the respective parties. <br><br> Notice was given that U. O. Store trade checks must be brought in during the present month otherwise they would fail to draw dividend until next year. |
