Show Z 0 M 1 1 I stockholders MEETING AT 2 monday afternoon the thirty fourth semiannual semi annual meeting of the stockholders of zions cooperative mercantile institution was held in the social hall H S eldredge Eld presiding the business of the meeting was the presentation of the presidents report of the institution for the past six months and a special election to fill va vacancies es occurring in the board the presidents report was read and unanimously adopted at the special election H S eldredge was elected vice dent to nil fill the vacancy occasioned by the death of thel the late win jennings and H J grant was chosen cli director rector in place of mr eldredge both gentlemen receiving the full vote cast A dividend of five per cent was declared for the past six months payable in merchandise immediately or in cash after may ath a balance of 0 was carried to the reserve fund which now amounts to nearly 2 the following excerpts from there the report of the president give a fair idea ot of the progress of the institution in reviewing the business of the institution ution for or tue ike past six months it ut at fords me pleasure in saying that our sales have been f ully fully as large as it was estimated ed gaev would be at the commencement men cement of the half year vear and notwithstanding the beneral trade depression that has bag prevailed throughout the country and the pressure thadas that has been brought to bear upon the people by the harsh arbitrary and cruel enforcement of severe despotic laws and consequent feeling of uncertainty in III all financial matters which such conditions engender it was gratifying r to realize that we have done iv well ell for some years past prices of all kinds have been steadily sinking and this decline has been so gradual and so general that it has not attracted as much attention as its importance warranted but today to day there is not dot an article in general consumption which commands within 25 per cent as high a prie price e as it did a few years since and t the t tendency eli dency appears to be towards a still further decrease rather thau than in the opposite Mp osite direction our sales during the past half year have been as follows home depart mentz ogden branch logan branch provo branch total 1 in 50 As compared with the the total sales for the corresponding six months of 1885 our sales lor for the half year just closed are less but notwithstanding this diminution in sales our profits are better than they were for the corresponding half year of 1885 our stock of merchandise on hand as shown in detail conour on our stock books is valued at this is less than a year ago exclusive of the capital stock and reserve fund our liabilities are and of this I 1 we owe to manufacturers nd merchants for goods but ua the balance 39 is a home debt our cash merchandise and grain on hand aggregate or mare more thin than the total sum of all liabilities exclusive of capital stock aud aad ra serve reserve fund for freight and express charges we paid a total of the cash receipts for the halt half year vear aggregate the following statement of assets and liabilities snows shows the condition of the institution at the close of the thirty fourth fiscal half year january isso RESOURCES merchandise on hand notes receivable accounts receivable kecan able 43 cash on hand real heal estate in salt bait lake city ogden logan springs and machinery at shoe and clothing factories and tannery 15 horses 2 mules 13 wagons 10 sets har ness oats chop feed and provo banut bt block ock liabilities bills payable accounts Py payable able 31 unpaid dividends 59 temporary da deposits posits by customers outstanding orders draia draw i on us for edse at retail 1219 92 capital stock reserves Ke serves Un undivided divide d profits 27 |