The Sun.
London, England, 1861-08-24 00:00:00

A IVOVEL COMPANY.

The Sleek publishes some interesting details rela-
tive to a Joint-Stock Company founded by a few
operative masons, which has proved completely suc-
cessful :—" They founded their association in 'lB4B,
but they had the good fortune not to receive any
pecuniary aid from the State. They had among
them M. Nadaud, a representative of the people,
who was not well viewed by the authorities. They
were reproached with very strong Socialist ten-
eencies. In a word, the Government refast d them
the capital which they lent to other companies.
The masons thought they were lost—they were
saved ! And in fact, they are in existence ; they are
prosperous, while the companies which were fostered
by the State are for the greaterpart dead, after pain-
fully struggling with the difficulties which their
defective origin had created. In 1852, after the
coup d'etut, the operative masons, having con-
fidence in themselves, resolved to reorganise their
association. They drew up a very wise code of
laws, and, possessing no capital, they observed to
one another that they had, at all events, their hands,
their special knowledge, and that with industry,
order, economy, and good will, they might over-
come all obstacles. They set to work, and resolved
that each member of the association should deposit
in the common chest the tenth of his daily wages.
This tenth was intended to supply the capital of
the
,joint-=took company. During the first year,
with all their efforts, and after all the sacrifices
they had made, they collected only 364 f. Their
association at that time consisted of only 17 opera-
tives, but all first-rate hands, and determined
to succeed. They acted so well, and conducted
themselves with so much propriety, that the year
following (1858) their capital rose to 4,521 f., and in
1854 to 17,000 f. In fine, from year to year, by dint
of saving. by courage and perseverance, and thanks,
likewise, to the skilful management of their pecu-
niary affairs and to the anxious solicitude of some
persons in a higher sphere who took an interest in
the association, the inventory made in the year 1860
demonstrated the existence of a capital of 365,000 f.,
belonging to 107 associates. During the eight
years between 1852 and 1860 the company under-
took several considerable works. The year 1860
was less fortunate for the association. Emboldened
by their success, the associates for a moment de-
parted from the prudent line therhad marked out
for themselves, and they suffered a loss of
40,000 f. We would willingly say a fortunate
loss. The operates thus learnt to their cost
that success in every affair is to be obtained only
by excessive vigilance, great precaution, and the ab-
sence of all wild speculation. Noth withstan ding that
loss the capital of the company rose again at the close
of the year 1860 to 365,000 f enormous figure
when one considers the trifling sum of 364 f. so pain-
fully acquired. Each associate being at the same
time a labourer and a shareholder, shared the pro-
fits in each capacity. On every settlement the profits
aro divided into two unequal parts-60 per cent. is
attributed to labour, and 40 per cent, to capital.
That is to say, the associates begin by dividing 60
per cent. in propoThoennttohetyhednivuimaebe4roofpedra
ycse nof
t!
labour supplied.
in proportion to the amount of capital possessed
by each associate. Thus, to explain, let us take
the year 1858, which gave a clear profit of
100,000 f. on a capital of 254,000 E ; 60,000 f. were
allocated for labour, the associates having supplied.
26,729 days' work, for which they were paid, ac-
cording to custom, every 15 days, and which
amounted to 105,250 f. The distribution of the
60,000 f. gave to each of them an addition of 2f. 25c.
for each day's work. Let us suppose an operative
earning 4f. a day in the association, and working
300 days in the year, he will have received 1,200 f.
for wages. The distribution of the profits, at the
rate of 2t. 25c. a day, gives him an additional sum
of 667 f. 50c. for wages. This is not all. The ope-
rative who left one-tenth of his daily wages to con-
titute a capital for the company became b 7 this
fact a shareholder of the company. The portion
attributed to capital for the year 1858 having
amounted to 40,000 f., the same operative who re-
ceived an additional sum of 667 f. 50c. for wages is
likewise to receive a share of the 40,000 f. allocated
for capital in proportion to the various sums he
paid in to the common chest. 'The association sup-
presses undertakers of buildings and all inter-
mediaries. It contracts directly with the proprie-
tors of the soil, and realises for itself the profits
which others receive for themselves under the old
system. The operative, thus become powerful by
the fact of the association, offers on his part great
advantages to those who will employ him."

THE MAILS.

MAILS DUE.

Australia, Ceylon, and Mauritius (via South-
ampton) .. .. .. ... .. .. Overdr
Do. (via Marseilles) apt.
Brazil and Cape Verds .. • . .. Sep
Buenos Ayres, Monte Video, &c. ...
Cuba and Mexico • • .. .. ••
.. Aug. 21.
Canada, &c. (via L'derry) .. • •
.. Sept. 1.
Cape of Good Hope, &c... • • ' •
• stamt,ton) Aug. —.
China, Penang, and Singapore (via :: Aug. 28.
tr.rseilles) Aug. 26.
Do (via ---
.. Overdue.
Gibraltar (via Southampton) • • .'
?a Mars Aug. 18.
india (Calcutta), Ceylon, &O. (via . Marseilles) Aug. 26.
Ola
Do.
Southampton) .. .. Overdue.
India (Bombay), (via
Lisbon Do.. (via Marseilles) .. .. Aug. 19.
.. .. .. Sept. 21.
ia Southampton) .. Overdue.
((via Marseilles) . • Aug. 19.
Malta, Eg_
Dypt,o.and Aden
.. . • .. Sept. 21.
. Aug. 21.
Nt77ingiote,dansdtaOtepso,rctoaaiiisa.;,,•ica:decr.a,
Ten..
~
if
Sept.
. and Pacific, Cart
agena, Cuba, &c. Aug. 28.
Wo,tern Coast of Africa,. , h
Cuba,
e .. lO.
West Indies

A letter from Rome, in the Nazione of Florence,
says :—" Whoever is in the habit of going across the
Piazza Farncse sees every day
a certain veiled lady, in a
rose-coloured bonnet, a black mantilla, and a gown of
light-coloured jacconet, who stands before tho door of the
palace distributing money to the recruits of the reactionary
party. Her name is Nina ; she is the daughter of a police-
man of the name of Galenti, and the wife of a clerk."
The French duty on steel goods was almost prohibitory,
but they long since removed every possible obstacle to the
introduction of Herring's magnetic brushes, dim Dr. Hassall
reports, " I regard them as the most perfect brushes hitherto
made, as respects their mechanical construction, and their
mag-netical action." They are the remedy for grey hair,
neuralgia, rheumatism, &c. N.B. - Counterfeits are being
made. cam, az, BANingnail-street, London.