The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-04-17
Cooperation in Charleston.

GRATIFYING SUCCESS OF THE COOPERATIVE
sToRE-THE FIRST QUARTERLY BEPoET OF TEE
TREASURER.
We take pleasure in laying before our read
ers the first results of the Palmetto Pioneer
Cooperative Association, and invite careful
perusal Of the report subjoined. 1t will be
seen that within. very brief period the asso-
citation has doubled it's members, that its busi-
ness has been eminently prosperous, and that
what was an experiment has become practical
and complete success. To those who, from the
beginning, have labored go faithfully to serve
the workingman, by aiding him to economist in
his expenses, to the men whose energy, patti
ence and enterprise have accomplished 80
much, be all the honor and praise.
Now that the Pioneer store may be consider
ed as established on sure basis, we hope to
see stores Of the same general character. and
equally well managed as to details, springing
up in other sections of our city.
The trecsurer's first quarterly report is as
follows: ,
To the President, Board Of Directors and
Stockholders of the Palmetto Pioneer Co.
operdtire association:
GESr1ENEN-I have the honor to present
herewith my quarterly report Of the condition
of our finances to which is appended whatever
detailed statements pertain to the Office. Per
nit me to congratulate the Association With
reference to the great progress which has
| marked it's career, and which has eliminated
in such partial realization Of our hopes, as fur
nish 6 sufficient earnest OF our future complete
success. The difficulties which ordinarily at
| tend the origin OF every novel adventure have
not been unfelt in our case, and, together With
| mistrust apparently natural, at least usual,
to such schenes), have impeded in great meas
| ure our more rapid advance. That we have
been ct all able to organize business, under
such unpropitious circumstances, IS certainly
an occasion of satisfaction to gentlemen whose
interests are pledged to still further develop
ments. I VIII observe that We have not failed
to appreciate the zeal with which our friends of
| The DAILY NEWS have continued to advocate
! our movements; in such gratultouS support
! and counsel it has pleased Us to discover that
watchful care for the wants OF community so
| inseparable 10 spirit of progress, and which
should ever characterize the true Journalist.
| We fatter ourselves that the public is now
thoroughly awakened to the many and great
advantages accruing from our society. That
I such is the fact is attested by continual addi-
tions to our roll of stockholders. In this con-
nectiop, I will remark that the increase during
| the interval of the past month has been just
one hundred per cent, Tor while on March LIST
1 our number was limited to seventy-hve, We now
claim the representation of one hundred and
| fifty separate families, the patronage OF whose
| several households We may safely rely upon.
| Now that the practical working OF our enter
prise has been demonstrated beyond question,
! we may reasonably count upon still further ac-
cessions, until the limit of our charter tive
Oh ,o na6 or moi rfI
| of our status and the operations OF the store,
refer you to the annexed exhibits, which for
convenience have duly numbered. An ex-
animation Of our list OF creditors will show the
names Of several wholesale firms IL our midst;
indeed our policy, as l take 1t, Will be to mar
monize our interests as far as practicable with
patronage of Charleston merchants. Our
transactions during the short period three
weeks) of the existence of our store, reach as
high as $780,, fattering result. Necessity
knows 10 law" but that necessity" is, also,
s'the mosher of invention" is condition more
certainly realized, at least more salutary IN
its effects than that bitter extremity which re-
cognizes ''no law" as its watchword; and in the
very despar-which it generates, overthrows at
once the bulwarks OF society and good order.
In political sense, cooperation" is the child
of necessity, but attributes her present liberal
extension to the prompt recognition which it
has elected from political ecouomy itself-a
powerful authority which assumes 20 regulate
the affairs OF men, and permeates every sue
cessful commercial scheme. We have been
called upor to consider no new principle-nOr
is there even q modification Of the fundamen-
tai idea, division of labor" but rather a novel
application Of the old adage, s'what is difficult
or impossible for one is easy for three" A
prominent feature OF our present refined civii-
zation is the encouragement it affords diversi-
fed industry, while at the same time it insists
upon unity Of capital, inasmuch az that which
tends to consolidate isolated capitals and indi-
vidual energies, cannot be other than o power
full lever by which to elevate the State and pro-
mote comfort.
am led to acknowledge the extent to which
1 Istand indebted to the judgment and lind Co
operation Of Mcssrs. Thomas, Ferguson, Stone,
Black Callahan Of the Board OF Management,
as well as Mr.. ". 81. Welch, our efficient super
intendent Of store; and select this method OF
setting forth my thanks for their assistance
lent in perfecting as wellas facilitating tn dis
charge of my duties as treasurer.
Recapitulating, then, the results OF our HIS
tory up to this point-with a daily increasing
membership-with the possession Of assets
safely in excess OF our liabiGties-with busi-
ness extending at an accelerated speed-I sub
NIT whether we are over sanguine in asserting
for our association career replete with Sue
cess and future usefulness.
Respectfully,
JAMES ]. GRACE.
Treasurer.