APPENDIX. 
Notes ox the Payment of Trade Dividends. 
Stores having paid dividends regularly out of profits (17) : 
1 1. Organized 1905. Had missed paying trade dividend only once in 
10 years. 
2. Organized 190S. 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. SI. 734.30: 1912. $8,140.52; 1913. -S9.170.59: 1914. S9.914.30. 
5. Organized 1912. Made large profit every year, and paid interest and 
trade dividends regularly. 
6. Organized 1904. Stock now worth S140. Has paid interest and divi- 
dends regularly. 
7. Organized 1908. Dividends: 1911. 2 per cent; 1912. 2^ per cent: 1913, 
3 per cent : 1914. 3 per cent. Surplus. S4.339. 
S. Organized 1890. Interest and dividends paid regularly for 25 years. 
Total. S1.277.S65. 94. Range from 9 to 13 per cent on purchases, to 
members only. 
9. Organized 1 SS9. Forty-nine semiannual dividends in 25 years : 3 
per cent purchase 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 : 86.600 surplus and undivided 
profits. 
11. Had paid dividends regularly; 1913. 5 per cent: 1914,6 per cent. 
12. Organized 1912. Paid S2.300 dividend 1913 ; making good profit. 
' 13. Organized 1S97. Paid 12 per cent dividends and 6 per cent interest 
in 1914 : very successful. 
14. Organized 1S90. 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 
