32 BULLETIIT 394, U. S. DEPABTMENT OF AGRICULTUKE. 



VI. Stores having paid no dividends — Continued. 



40. Organized 1911. No dividend paid. " Victim of early mismanage- 



ment," but now^ said to be on road to success. 



41. Organized 1912. No dividends paid. Has a considerable deficit. 



42. Organized 1877. No dividends or interest paid , bad management. 



■ 43. Organized 1909. Failed twice, due to mismanagement. No dividends 

 have been paid. 



44. Organized 1912. No dividends; business in unsatisfactory condition, 



45. Organized 1903. No dividends paid, due to excessive credit and loss 



by fire. 



46. Six years ago had large deficit. No dividends. Is building up sur- 



plus now, and appears to be in prosperous condition. 



47. Organized 1912. No reliable information, but appears to be in very 



unsatisfactory condition. 



o 



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