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HISTORY OF DAVIS COUNTY
Davis County's mercantile operations suffered from several common problems. The principle of cooperation implied a broad investment in the business, with investors sharing in the profits. In fact, however, only a few owners held a large portion of the stock in virtually every cooperative venture in Utah, including those in Davis County. The intended dispersion of profits among many residents thus could not be achieved. Another c o m m o n problem was that competing merchants continued to operate in many communities. Despite preachments to the contrary, residents succumbed to the temptation to buy imported manufactured goods from these merchants rather than inferior locally made goods from the church stores and factories. Added to these factors was the matter of financial stability. The national economic panic of 1873 negatively impacted a number of Utah's cooperatives and forced their closure. Those in Davis County survived the depression, however.68 Related to these challenges was another financial problem that may have been more severe than all the rest. Many residents of Davis County had little extra cash and depended upon a barter economy. Because of this, the co-ops often extended credit u n d e r a goodneighbor policy of trust. Surviving records from the ward store in Farmington reveal that the inability to collect on these accounts kept the business constantly on the verge of bankruptcy Arthur Stayner, one of the directors, finally convinced the Farmington board of directors to quit offering credit. Bishop John W Hess sent the ward teachers out to collect on the overdue accounts, but they had little success. The g o o d - h e a r t e d store manager gradually extended additional credit, and the store carried a heavy load of unpaid bills.69 Even with the economic challenges faced by the cooperative stores of Davis County, they remained in business during difficult times. They offered a variety of goods, including some sought-after imports, and netted sufficient income to keep the stocks replenished. Bountiful's cooperative store made an effort to expand beyond the mercantile business during the short-lived cooperative movement. A few months before the Bountiful Co-operative Mercantile Institution (BCMI) came into being, local citizens had organized a Co-operative Agricultural and Manufacturing Society As with other such societies, this one presumably intended to establish manufac-
