The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-08-31
cooPERATIyE STORES IN NEW YORK

the great cooperative mOvement now III ProsIess
among the laboring classes Of Europe. In the
Northern part Of the United States also considera-
BILE attention has been given to the subject OF late
Every paper almost that comes to us from the
large cities of the North contains notices relative
to the practical working Of the system. Thus in
the New York Herald of Sunday, August 25, we find
an account of several cooperative stores that have
been established in that city within the past
month, and are now in working order. Besides
these, says the Herald, many other kindred but
private associations Of similar nature have been
formed, and are progressing satisfactorily.
Foremost among these:fressly organized insti-
tutions, may be described
THE FIRST MANHATTAN COOPERATIVE GROCERY
STORE ~ 80
has been established under:the act of the Legisla-
ture to regulate such institutions, and starts with
. capital Of $5000 divided into shares OF 80 each
The principles of this storeare 20 supply lts mem-
bers with groceries, provisions, wood and coal OF
good quality and OF just weight and measure OF 2
fair advance on first cost, and Hom the Prohts OF
the business to pay quarterly DIVIDEND Id proper
will be seen from this preamble that apart
from all other considerations such as the small
or cost of goods. by getting them nearly at
wholesale rates-each member OF the association
receives profit in direct proportion to his pur-
chse and thus his s Es mgns say
agree to allow eight per cent per annum interest
on every fully paid up share, to commence hfteen @
days after the, store "Opens for business. Ihe
officers OF the First Manhattan o-operatiTe gro
cery store are president, vice president, secre-
tary, treasurer, three trustees, nine directors,
superintendent and buyer. All these officers
have furnished bonds to the amount OF $4,000, m
order that the society can have claim on them
should they abuse the trust reposed IN them; and,
Judging by the details Of the working OF the store,
the buyer has the most onerous position, as he
has to make all the purchases Of goods required
for keeping the store supplied, and has TO guard
against all the ihnumerabie chicanery and tricks
of trade" so that the members shall have bona
fde good articles ter their money. /; |
The preliminary meeting for the organization OF
this movement was held on the 4th Of June last,
and now it may. be said to be firmly established.
The capital wanted to commence business on
ls25Qol has been fully paid up and deposited in
bank, while the second instalment OF $500 re-
bsen nearly completed. The officers are all ap-
pointed, and appear obe well selected. The site
Of the store has slfesay been fxedA between the
Sixteenth and twentieth Wards, adjacent to Sew
enth and Ninth syenues, and located in Twenty,
sixth street. All appears, therefore, to be we'll
With the First Manhattan Cooperative Grocery
Store and it is to be hoped, for the furtherance
OF the cooperative principle and policy among
our mechanics and artisans, that it will have
prosperous career.
THE MiNHATTAN COOPERATIVE EANDAnp BUILDING
.a!.t ASSOCIATION !, ~
is another Of these institutions, which goes on
more extensive scale than the former, involving
greater amount Of capital and intending to al9y
and enable poh Of its members to ssbsoome hs
own landlord" Instead OF having seeettaun liked
number Of shares, as the former association. the
funds of this building society can be increased at
the will of the members or shareholders, until o
large amount Of capital snail khsYe aecumglatsd.
cents On every share taken by him, and in addf-
ton . weekly subscription OF nifty cents pc,
share. AS soon as the funds Of the society shall
have accumulated to tie amount OF $1,000 there
shall be Sa qsds bsr Savs sns' bourS
such right of appropriation or shall 30 en-
titled to it in his regular turn, according TO
the time and order 81 rotation Of his standing on
the books Ct the society. For instance, the work
ing Of tho co-operators' plan can pc thps e1plan
Joins the building ASSOCIATION; he has paid an en-
of fifty cents ever Since be Joined the society,
which is composed say OF two hundred members
At the end Of nine weeks 1t VIII DO loRna, py tne
accumulation of the entrance fees and weekly pay.
ments of these two hundred members, that the
bniIdipe society possesses $1,000, and then John
Brown. by reason Of his being the first member.
Or on account his paving twenty dollars Tor the
snable him 10 purchase Et build 3-y-,;; and this
amount of $1,000 and interest is occurred e the
other shareholders and the society ssnerily BY o
mortgage ON John Browns house. Thus, at the
end of certain period each Of the members has o
honss 70 OF bis own, when the society is dissolved,
pprpose being fully carried ont and each 9f its
H. RS absine BIS 9Vl landlord" There is no
Me%Di mem. tb.+ these building sp4ehes work q good
deal Of T good as long as they ore not devised IN
any speculative SPIN, xn'sa ~ uepH 't' FD' y