The Mormon Hierarchy: Wealth and Corporate Power

Early in the twentieth century, it was possible for Latter-day Saints to have lifelong associations with businesses managed by their leaders or owned and controlled by the church itself. For example, one could purchase engagement rings from Daynes Jewelry, honeymoon at the Hotel Utah, and venture off on the Union Pacific Railroad, all partially owned and run by church apostles.
Families could buy clothes at Knight Woolen Mills. The husband might work at Big Indian Copper or Bullion-Beck, Gold Chain, or Iron King mining companies. The wife could shop at Utah Cereal Food and buy sugar supplied by Amalgamated or U and I Sugar, beef from Nevada Land and Livestock, and vegetables from the Growers Market. They might take their groceries home in parcels from Utah Bag Co. They probably read the Deseret News at home under a lamp plugged into a Utah Power and Light circuit. They could take out a loan from Zion’s Co-operative and insurance from Utah Home and Fire.
The apostles had a long history of community involvement in financial enterprises to the benefit of the general membership and their own economic advantage. This volume is the result of the author’s years of research into LDS financial dominance from 1830 to 2010.