| Show financial in ANCIAL CONDITION OF X Z C 31 1 I AS at THE stockholders MEETING ur ETING trin regular semiannual semi annual meeting of the stockholders sock Aock holders of zions co opera tive mercantile institution was held at the social hall hali this afternoon commencing inen cing at 2 vice president wm win jennings presiding the principal I 1 siness business ba done was the presentation and acceptance of the presidents semiannual semi annual report which was read dy by the secretary T G webber the report embraces a period from august 1884 to january alst aist 1885 in lithe it the president says bays Itis it is gratifying notwithstanding the general hardness of the times timea and the lack of ot remunerative markets far lor tha tb surplus product to 0 be able to sa say the institution has done clone well W with iti itz the advent of tile tue present year hope nope was entertained that business busi busl ness nesa would improve and this hope hopp was way no doubt founded founded on the ion liquidation through which trade hai hal had parsed pas ed and the low prices reached in many staple lines but prices have no noi materially improved and the volume of trade although perhaps as a large as the times and circumstances warrant Is not so great as it was farmers are an temporarily embarrassed b thea the abundant crops clops f for fon or which there is no market while workers are running ou on C greatly reduced wages from these and ana other causes a general revival in business and a return of prosperous times timis can hardly be anticipated at present but we ave believe belleve confidently that tae worst of the depression elsion Is crand ov erand auh suh with the opening of spring a more f favo avore asora ib bit condition of trade will prevail solar bo tai lai as the financial condition of the institution is concerned we have hae abundant cause for thankfulness for while our sales in consequence of the gene general ra I 1 dullness experienced throughout 11 the country have fallen somewhat below what they were a year ago yet I 1 find they have been all we reasonably could expect the stocks of merchandise on hand band as show shown n in our inventories are valued at 81 which is less than thau we carried one year ago I 1 find nind that nearly neaily 79 per cent of this mer chandise on hand band has been paid for included in the merchandise on hand as given above are arc the fol foi following lowin homemade home horn e made goods boots and shoes provo woolen goods 49 4 ba soaps brooms trunks crackers candy and matches tota home produced articles our merchandise and cash on hand aggregate 78 78 or over 65 per cent more than the sum total of all our liabilities of course exclusive of capital stock and reserve fund ifor f freight and express charges ie we have paid lor the tile half year 14 and our sates sales have been about cash receipts for the half year have been an accurate inventory of the mate rial machinery and tools has been taken in the manufacturing depts aua and I 1 am gratified in b being ei 1 1 able to say tiu the results result are aie very satisfactory factory inthe luthe in the shoe factor factory 7 there were turned out pairs of boots and pairs of shoes at a cost the tannery tanners aused 4 02 hides 1157 skin sand produced worth ol 01 sole le leather athLer buff wax upper calf and kip skins A ai our clothing factory 51 worth of clothing was manufactured consI consisting stin of some som e 30 d iff erent crent armenti garments g garments including overalls ot which there were pa pairs i rs turned turned out the total product of these three manufacturing I 1 departments part ments is valued at 77 and they give employment to nearly two hundred operatives of one grade or another I 1 the following ng statement of asset and liabilities shows the condition 0 01 the institution at the close of the ciscal half year RESOURCES cudse on h and hand 1444 OGO S 1 notes receivable 20 2 accounts receivable 41 cash on liand hand 41 2 1107 9 reat real estate in salt lake late city ogden logan soda pigs and provo 1 so 59 machinery at shoe and clothing fac far 1 IP tones and kannry tann i y ua 11 17 horses 2 mules ranle ib 16 wagons 10 sets ot of harness 10 tons of oats and 4 tons of hay bay 27 2700 00 provo manna stock 05 01 liabilities bills payable pa vable vabie howo nomy 70 29 accounts account s payable pi able abie 53 provo manul comy com comy y and others for comm commission lesion goods 61 unpaid dividends 31 temporary deposits NY by cus omers e rs 1411 89 80 0 outstanding stan ing orders drawn onus on ps for inase at retail I 1 capital stock 1195 hgo igo 32 reserves ba undivided profits 02 1 01 A dividend was declared declai cd of 5 per cent upon the calil capital tal tat stock which will lake take of the undivided profits 49 80 and the balance will be edited credited ci to the reserve f und fund |
