APPENDIX. 



Notes on the Payment of Trade Dividends. 



I. Stores having paid dividends regularly out of profits (17) : 



^ 1. Organized 1905. Had missed paying trade dividend only once in 

 10 years. 



2. Organized 1908. 1909, 21 per cent ; 1910, 16 per cent ; 1911, 10 per 



cent ; 1912, 10 per cent ; 1913, 8 per cent ; 1914, doubtful. One of 

 the mistakes of the first years was the payment of too large 

 dividends. 



3. Organized 1912. Interest on stock has been paid regularly. Divi- 



dends : 1911, 10 per cent ; 1912, 6 per cent ; 1913, 14 per cent ; 1914, 

 12 per cent. 



4. Organized 1911. Seven per cent interest paid regularly. Dividends : 



1911, $1,734.30; 1912, $8,140.-52; 1913, $9,170.59; 1914, $9,914.30. 



5. Organized 1912. Made large profit every year, and paid interest and 



trade dividends regularly. 



6. Organized 1904. Stock now worth $140. Has paid interest and divi- 



dends regularly. 



7. Organized 1908. Dividends : 1911, 2 per cent ; 1912, 2i per cent ; 1913, 



3 per cent ; 1914, 3 per cent. Surplus, $4,339. 



8. Organized 1890. Interest and dividends paid regularly for 25 years. 



Total, $1,277,865.94. Range from 9 to 13 per cent on purchases, to 

 members only. 



9. Organized 1889. Forty-nine semiannual dividends in 25 years ; 3 



per cent piu'chase dividend to all. Regular stock dividends to 

 members only. 



10. Organized 1893. Twenty-two years old. Trade dividend every year 



from 3 to 5 per cent, members only ; $^600 surplus and imdivided 

 profits. 



11. Had paid dividends regularly ; 1913, 5 per cent ; 1914, 6 per cent. 



12. Organized 1912. Paid $2,300 dividend 1913 ; making good profit. 



13. Organized 1897. Paid 12 per cent dividends and 6 per cent interest 



in 1914 ; very successful. 



14. Organized 1890. Except first year had paid dividends ranging from 



6 to 10 per cent. 



15. Organized 1913. Claims regular payment ; business seems prosperous ; 



no specific figures. 



16. Paid 5 to 15 per cent dividend every year for 6 years ; had large 



surplus. 



17. Organized 1906. Trade dividends have been paid every year until 



last year, 3 to 5 per cent. Had a very small 'Surplus. 



1 The numbers are not the same as in Table X. 

 30 



