USA > Utah > Salt Lake County > Salt Lake > History of Salt Lake City > Part 94
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The Salt Lake Tribune in its issue of January Ist, 1886, gives the following epitome of the road and its management :
" The Denver & Rio Grande system of railways is very intimately connected with the business of Salt Lake. Starting at Ogden, where it has a connection with the Central Pacific, and thus forms a link in a transcontinental line, it passes southward along the borders of the Great Lake, past Salt Lake City, skirts that pretty Lake Utah, goes past pretty towns and villages in this great valley, then passes up Spanish Fork Canyon, and climbing Soldier Summit, the rim of this Basin, descends into the valley of Green River. All along it is one panorama after another, of beautiful scenery until the Wasatch Range is passed, and the pas- senger comes into desert lands. Even there, one finds much of interest, while whirling through the country. The Denver & Rio Grande Western stretches from Ogden to Grand Junction, Colorado, a distance of 346 miles, while its Bingham. Alta and Pleasant Valley branches bring the road up to about 400 miles in length, This road is well equipped in every particular. Built in haste four years ago, it has since been improved from time to time, until brought up to first class stand- ard. It early history was marked with troubles from which it has emerged with wonderful alacrity, proving that the present management is equal to the situation. When the road passed into the hands of W. H. Bancroft, receiver, he found plenty to do. During the past year he has had erected thirty new Howe iruss
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bridges, and spanned Green River with an iron bridge 1, 100 feet long. This four span bridge alone cost over $40,000, while the entire cost of new bridges the past year aggregates $125,000. To the rolling stock two first class passenger en- gines were added.
"When the road was placed in the hands of Receiver Bancroft he was author- ized by the court to make these improvements, and if the earnings of the road were not ample to pay for them, issue certificates for their payment. All the im- provements and purchases made so far have been paid for out of the earnings and not a single certificate has been issued by the receiver. Besides the improvements named, there has been much spent in placing the road-bed in good condition. Curves have been lengthened, grades improved, and the track in many places re- moved to better ground, so that the entire system is of a high standard of excel- lence. The eating houses have also been greatly improved. The fact that all has been paid for out of the earnings, and that there remains a large bank account to the credit of Receiver Bancroft, speaks volumes for his management of the affairs of the company.
While the D. & R. G. W. is our local road, its close connection with the Denver & Rio Grande, or Colorado system, seemingly unite the two systems in one, although operated under different managements. The latter system is also in the hands of a receiver, who has been doing equally good work for his com- pany. Besides making improvements in bridges, track, rolling stock, etc., all paid out of the earnings, Receiver W. S. Jackson has also paid the interest on the first mortgage bonds. The earnings were the past year, between 25 and 35 per cent. in excess of the preceding year.
Take the two systems together, and theirs is the grandest scenic route of the world. While the Utah system has in its lakes, valleys, cities, and mountains enough to interest any lover of the beautiful and grand, the Colorado system, with its Black and Grand Canyons, Marshall Pass, and scores of other wonderful ob- jects, offers to the tourist more that is grand and beautiful than is found any where else in the world. And yet this may all be seen while riding through the country at thirty or forty miles per hour in palace coaches, and with such ease and luxury as to not weary. Nearly all the wonderful and noted pleasure resorts of Colorado may be reached by the Denver & Rio Grande, either on the main line, or by some of its numerous branches, which climb mountains or run into canyons a few years ago thought to be inaccessible to steam railways. Besides being a great scenic route the road offers good and safe passage between the east and west, with close connections at Pueblo with the Atchison, Topeka & Santa Fe, and at Den- ver with the Union Pacific and Chicago, Burlington & Quincy. The officers of the D. & R. G. W., with headquarters in this city, are W. H. Bancroft, receiver; A. L. Horner, assistant superintendent, and S. W. Eccles, general freight and passenger agent.
THE UTAH & NEVADA RAILWAY.
The road was commenced in 1872; work was suspended in 1873, when some 20 miles had been completed, but was resumed and the road extended to Stockton, its present terminus. Though but a short line, it is a very important one to the in- terests and prospects of our city. Indeed in some respects it may be considered more
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than any other line the Salt Lake local railroad ; for though there is prospect of its extension, it has become most famous as the summer excursion line to the chief bathing places of the Salt Lake. Running due west it strikes the Great Salt Lake at a point twenty miles distant, where is located the bathing resorts of Black Rock, Garfield and Lake Point, then swinging round southwest the road continues on to near Stockton, tapping that prominent ore producing district.
We may here note in connection with this line some reminiscences of the Lake.
On the third day after their arrival in the Valley, a company of the pioneers, namely-Brigham Young, Heber C. Kimball, Willard Richards, Orson Pratt, Erastus Snow, Wilford Woodruff, George A. Smith, and six others, including Samuel Brannan of San Francisco, visited the Great Salt Lake at the identical bathing point of to-day. The Historian Woodruff, noting the incidents of their journey to the lake, wrote :
" We took our dinner at the fresh water pool, and then rode six miles to a large rock on the shore of the Salt Lake, which we named Black Rock, where we all halted and bathed in the salt water. No person could sink in it, but would roll and float on the surface like a dry log. We concluded that the Salt Lake was one of the wonders of the world."
Years later, when the Colfax party visited the same point, with the Salt Lake City Council, and with Mr. J. R. Walker and other prominent citizens, Mr. Bowles noted the visit very nearly in Woodruff's words : " We have been taken on an excursion to the Great Salt Lake, bathed in its wonderful waters, on which you float like a cork, sailed on its surface, and picnicked by its shores."
The bathing places of the Salt Lake undoubtedly are destined to become the most famous bathing places in the world, in which event our city in the summer season will be crowded with visitors from the States and Europe, and this Salt Lake excursion train to the lake will become as one of the great " institutions " of our city. It has for years carried from forty to fifty thousand people to bathe in the lake, during the summer season. Tourists universally pronounce a bath in the lake as being finer than that of any other waters they have ever bathed in, and year by year the lake has become more popular with our citizens. In the bathing sea- son, our city is ever and anon awakened to an excursion enthusiasm by the joyous bands marching through the city to the train, calling the excursionists to hurry to the pleasures of the day at Black Rock, Garfield and Lake Point.
During the past year the company spent over $10,000 in improving grounds at Garfield and Lake Point, with the intention of making these places great bath- ing resorts ; and the company proposes extensive improvements the coming season, such as better hotels, and they have in contemplation the introduction of warm baths in the winter, that the afflicted may have the benefit of those healing and in- vigorating waters.
W. W. Riter is the superintendent of the now famous excursion line, and S. F. Fenton is general passenger agent.
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CHAPTER LXXXIII.
CIRCUMSTANCES THAT GAVE BIRTH TO Z. C. M. I. ITS INCORPORATION AND CONSTITUTION. REVIEW OF ITS HISTORY AND FINANCIAL STATUS UP TO JULY, 1885, BY THE CHURCH AUTHORITIES. THE DIRECTORS AND OFFI- . . CERS OF THE BOARD IN 1880. SUMMARY.
The development of the Utah mines in 1868-69-70, and the prospective changes both in our social and commercial relations which would surely follow the completion of the railroads to the Pacific coast, coupled with the antagonistic move- ments inaugurated against the policies of President Young, rendered it necessary that he should fortify the position of the Mormon community by a commercial combination of the entire people. Such were his views and the views of his apostolic compeers, and the community which they directed, in temporal as well as spiritual affairs, sustained them in the proposed commercial unity of the Church to hold her position in the rapidly changing circumstances of those times. Hence the organization of Z. C. M. I.
This commercial institution of the people was organized, as already noted, in the Winter of 1868 ; it commenced business in March, 1869, and was incor- porated December Ist, 1870, upon an act passed by the Utah Legislature, which was approved by the Governor, February 18th, 1870. The first circular sent out to the people was in 1868, immediately after the meetings held at the City Hall and elsewhere to inaugurate a co-operative movement throughout the Territory. This circular is already a rare historical document, there being perhaps only one in existence to-day and that one preserved by the secretary of the Institution, Mr. Thomas G. Webber, and given now to the guardianship of history. . The circular is opened with a title page bearing the Israelitish inscription of " Holi- ness to the Lord. Zion's Co-operative Mercantile Institution," and then follows :
"PREAMBLE .- The inhabitants of Utah, convinced of the impolicy of leaving the trade and commerce of their Territory to be conducted by strangers, have re- solved, in public meeting assembled, to unite in a system of co-operation for the transaction of their own business, and for better accomplishment of this purpose have adopted the following :
" CONSTITUTION-Holiness to the Lord. Zion's Co-operative Mercantile In- stitution.
" Sec. I .- This Association shall be known by the name and style of 'Zion's Co-operative Mercantile Institution,' and shall have perpetual succession.
" Sec. 2 .- The objects of this Institution are to establish and carry on in Salt Lake City and such other places as may be determined by the board, the busi . ness of general merchandising.
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" Sec. 3 .- The capital stock of this Institution shall be three millions of dol- lars ($3,000,000) and may be increased to five millions, ($5,000,000) and be di- vided into shares of one hundred dollars ($100) each.
" Sec. 4 .- The officers of this Institution shall consist of a president, vice- president, board of directors, secretary and treasurer, each and every one of whom shall be stockholders in this Institution.
" Sec. 5 .- The board of directors shall consist of not less than five (5), nor more than nine (9) persons, including the president and vice-president, who shall be ex-officio members of the board.
" Sec. 6 .- It shall be the duty of the president to preside at all meetings of the Institution and of the board, and to sign all documents, as are, or may be, prescribed by the constitution and by-laws, except certificates of dividends to stockholders. In case of absence or disability of the president, the vice-president shall perform the duties of the president, and in all meetings of the stockholders the president shall have the power to adjourn the meetings from time to time to accomplish the transaction of the business.
" Sec. 7 .- It shall be the duty of the board to enact by-laws for the general management and direction of the business of this Institution and to procure suit- able places for the transaction of the business by lease, purchase or construction ; also so far as may be necessary, to employ and appoint committees, delegates, agents, attorneys and clerks to assist in carrying on the business and promoting the welfare of the Institution, and to discharge the same at pleasure.
"Sec. 8 .- They shall also have full power to bargain, sell, convey and deliver under the seal or otherwise any and all species of property belonging to this Insti- tution, which may not be needed for the business thereof, on such terms and conditions as they may deem for the best interest of the same; provided, that the sale of shares and merchandise shall be for cash only.
" Sec. 9 .- It shall be the future duty of the directors to furnish quarterly statements of the business and balance sheets of the books for the inspection of the shareholders, the first to be furnished on the fifth of July, 1869, and quarterly thereafter ; said statements and balance sheets shall remain open in the office of the secretary for not less than thirty days.
"Sec. 10 .- There shall also be furnished by the directors, a semi-annual statement in detail of the business of the Institution, to be read before the gen- eral meeting of the stockholders to be holden at 2 p. m., on the fifth day of October and April in each year, at such places as the Directors may designate, also declaration of dividend, the first semi-annual meeting to be held on the fifth day of October, 1869. Provided, that if any of said fifth days shall fall on Sun- day, said reports shall be furnished and meeting held on the day preceding.
"Sec. 11 .- The directors shall have further power to call special general meetings, at such other times and places as in their judgment may be required, reasonable notice being given thereof.
"Sec. 12 .- The board of directors shall have power by a two-thirds vote of their number, to remove any director or other officer from his office for conduct prejudicial to the interest of the Institution ; if the officer sought to be removed be a director he shall not vote on any matter connected with such removal.
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HISTORY OF SALT LAKE CITY.
"Sec. 13 .- All business brought before the board for consideration shall be determined by a majority of the whole number, each member being entitled to one vote and one only, irrespective of shares held by said directors.
" Sec. 14 .- The directors shall convene for the transaction of the business of the institution at the call of the president, and as they shall adjourn from time to time.
" Sec. 15 .- All officers of the Institution shall be elected by a majority of votes given at the general meeting, holden on the fifth day of October in each year, provided, that whenever a vacancy shall occur from any cause, the board may fill such vacancy by appointment, till the next general meeting ; all officers shall hold their office until their successors are elected and qualified.
" Sec. 16 .- In all matters transacted in general meetings each stockholder shall have one vote, and one only for each and every share owned by him.
" Sec. 17 .- The secretary shall record the minutes of all meetings, and con- duct all correspondence under the direction of the board, he shall hold the com- mon seal and attend to all other duties whether prescribed by this constitution or the by-laws required by the president.
" Sec. 18 .- The treasurer shall have charge of all funds belonging to the In- stitution, and shall employ or disburse the same, as required by the provisions of the constitution, and shall furnish statements of account when required by the board.
" Sec. 19 .- The funds of the Institution shall be subject to appropriation by the board only, and disbursed by the treasurer on order signed by the president or vice-president, and countersigned by the secretary.
" Sec. 20 .- No person or persons shall be eligible for membership, except they be of good moral character and have paid their tithing according to the rules of the Church of Jesus Christ of Latter-day Saints.
" Sec. 21 .- The directors of this Institution shall tithe its net profits prior to any declaration of dividend, according to the rules of the Church mentioned in the preceding section.
" Sec. 22 .- The president, vice-president, board of directors, secretary and treasurer, before entering upon the duties of their several offices, shall take oath or affirmation for the faithful performance of all duties required by this constitution.
" Sec. 23 .- The treasurer shall give bonds with approved securities to the Institution, in such sums as may be deemed necessary by the board, subject to in- crease, as circumstances may render advisable.
" Sec. 24 -The secretary and treasurer shall be the only paid officers of the Institution, and their remuneration shall be as determined by the board of directors.
" Sec. 25 .- All certificates of stock issued by the Institution shall be for one share, or multiple thereof ; they shall be signed by the president or vice-president and secretary, under the common seal, they shall be registered in the office of the secretary, and shall be deemed personal property, and as such, subject to sale and transfer. The form of certificate, registration and mode of transfer shall be prescribed by the board.
" Sec. 26 .- All dividends shall be paid if required, within thirty days after the same shall have been declared.
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" Sec. 27 .- The private property of shareholders shall not be held subject to the liabilities of the Institution.
" Sec. 28 .- The seal of the Institution shall bear the inscription ' Holiness to the Lord,' 'Zion's Co-operative Mercantile Institution, 1869,' with bee-hive and bees in centre.
"Sec. 29 .- This constitution may be amended or altered at any general meeting or the stockholders, by a two-thirds vote of the shares represented, pro- vided that thirty days' notice shall have been given in some public newspaper published in this Territory, of such contemplated amendment or alteration."
The foregoing constitution was the original of the organization of Z. C. M. I .; but the Utah Legislature having passed an act under which the Institution could incorporate by law, we next, in the historical links, come to the "Agreement," entered into between Brigham Young, George A. Smith, George Q. Cannon. William Jennings, William H. Hooper and others. The constitution upon which they organized is substantially the original, but there are several points of differ- ence, as for example :
" Ist .- This association shall be known by the name and style of ' Zion's Co-operative Mercantile Institution,' the continuance, duration or succession of which shall be for a period of twenty-five years, from and after the fifth day of October, A. D. 1870."
The original makes the covenant " perpetual," while the term of incorpora- tion of the said Institution is for the duration of twenty-five years.
Interesting as the historical narrative of Z. C. M. I. may be, it must give place as chief in importance to the great manifestos of the Church upon her social and co-operative systems. The following apostolic circular reviewing the finan- cial affairs of the Institution to date, July 1875, is itself a chapter of history : "To the Latter-day Satnts :
" The experience of mankind has shown that the people of communities and nations, among whom wealth is the most equally distributed, enjoy the largest degree of liberty, are the least exposed to tyrrany and oppression and suffer the least from luxurious habits which beget vice. Among the chosen people of the Lord, to prevent the too rapid growth of wealth and its accumulation in a few hands, he ordained that in every seventh year the debtors were to be re- leased from their debts, and, where a man had sold himself to his brother, he was in that year to be released from slavery and to go frce ; even the land itself which might pass out of the possession of its owner by his sale of it, whether through his improvidence, mismanagement, or misfortune, could only be alienated until the year of jubilee. At the expiration of every forty-nine years the land reverted, without cost to the man or family whose inheritance originally it was, except in the case of a dwelling house in a walled city, for the redemption of which, one year only was allowed, after which, if not redeemed, it became the property, without change at the year of jubilee, of the purchaser. Under such a system, carefully maintained, there could be no great aggregations of either real or personal property in the hands of a few ; especially so while the laws, forbid-
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ding the taking of usury or interest for money or property loaned, continued in force.
" One of the great evils with which our own nation is menaced at the present time is the wonderful growth of wealth in the hands of a comparatively few indi- viduals. The very liberties for which our fathers contended so steadfastly and courageously, and which they bequeathed to us as a priceless legacy, are endan- gered by the monstrous power which this accumulation of wealth gives to a few individuals and a few powerful corporations. By its seductive influence results are accomplished which, were it more equally distributed, would be impossible under our form of government. It threatens to give shape to the legislation, both state and national, of the entire country. If this evil should not be checked, and measures not be taken to prevent the continued enormous growth of riches among the class already rich, and the painful increase of destitution and want among the poor, the nation is liable to be overtaken by disaster ; for according to history, such a tendency among nations once powerful was the sure precursor of ruin. The evidence of restiveness of the people under this condition of affairs in our times is witnessed in the formation of societies, of granges, of patrons of hus- bandry, trades' unions, etc., etc., combinations of the productive and working classes against capital.
" Years ago it was perceived that we Latter-day Saints were open to the same dangers as those which beset the rest of the world. A condition of affairs ex- isted among us which was favorable to the growth of riches in the hands of a few at the expense of the many. A wealthy class was being rapidly formed in our midst whose interests, in the course of time, were likely to be diverse from those of the rest of the community. The growth of such a class was dangerous to our union and of all people, we stand most in need of union, and to have our inter. ests identical. Then it was that the Saints were counseled to enter into co-opera- tion. In the absence of the necessary faith to enter upon a more perfect order revealed by the Lord unto the church, this was felt to be the best means of drawing us together and making us one.
" Zion's Co-operative Mercantile Institution was organized, and, throughout the Territory, the mercantile business of the various Wards and settlements was organized after that pattern. Not only was the mercantile business thus organized, but at various places branches of mechanical, manufacturing and other productive industries were established upon this basis. To-day, therefore, co-operation among us is no untried experiment. It has been tested, and whenever fairly tested, and under proper management, its results have been most gratifying and fully equal to all that was expected of it, though many attempts have been made to disparage and decry it, to destroy the confidence of the people in it and have it prove a failure. From the day that Zion's Co-operative Mercantile Institution was organ- ized until this day it has had a formidable and combined opposition to contend with, and the most base and unscrupulous methods have been adopted, by those who have no interest for the welfare of the people, to destroy its credit, Without alluding to the private assaults upon its credit which have been made by those who felt that it was in their way and who wished to ruin it, the perusal alone of the telegraphic dispatches and correspondence to newspapers which became public,
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would exhibit how unparalleled, in the history of mercantile enterprises, has been the hostility it has had to encounter. That it has lived, notwithstanding these bitter and malignant attacks upon it and its credit, is one of the most valua- ble proofs of the practical worth of co-operation to us as a people.
" Up to this day Zion's Co-operative Mercantile Institution has had no note go to protest ; no firm, by dealing with it, has ever lost a dollar ; its business transactions have been satisfactary to its creditors and yet its purchases have amounted to fifteen millions of dollars. What firm in all this broad land can point to a brighter or more honorable record than this? During the first four years and a half of its existence it paid to its stockholders a dividend in cash of seventy-eight per cent., and fifty-two per cent. as a reserve to be added to the capital stock, making in all a dividend of one hundred and thirty per cent. The Institution declared as dividends and reserves added to the capital stock, and tithing, during those four and a half years, upwards of half a million of dollars. So that the
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