New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-18
secured in the Troy Cooperative Foundery will repre-
GENT very handsome interest on its eapitg.

CHARACTER or TIE MEN.
"Wben this scheme was first started, what kind
of men were the first to enter into itP
1.-THE majority of them are lrlsh. said Mr.. Name,
mistaking my meaning. The answer however, has
since suggested the inquiry in other places and other
branches of cooperative industry and lind. toquote
a gentleman who has had much to do with organiz-
ing the Massachusetts, cooperative stores and one or
two manufacturing establishments that the Irish are
of all other mechanics the mosteager to engage in
cooperation.
"But as regards their moral charaeterp
There was no trouble about that the Association
was formed only of few originally and the best
workmen and the steadiest among thdr friends were
afterward invited to take part Tie other class
scented the idea until it was q success then each
one wanted n whack at il. and blameus to this day
for not allowing any and every ironworker to buy
shares"
1.-THE best artisans and the more meal Of the men
took part, thcnp
"Of course said the gentleman, appearing impa-
tient at my stupidity. "Of course, hat regulated
itself 1t is only the best workmenand steadiest
fellows who ever have 500 to invest"
"Wen now, do you find that Customers from
abroad coming here 10 buy recognize he fact that
these best and steadiest workmen produce, for the
some money. n better article of st0o than any
others ~
yes they have recognized that firm the first.
We make the best article possible for hc same rea-
son that we save as | have told you, enry scrap of
iron it's our interest to do so. Whenn workman
invests all the money lie has in the wrd in this
sort Of an enterprise. he seems to uIierstand Mt
once what he would never have thouht OF as
iOurncyman-that is that his individual direct. pc
cuniary interest depends on his workmnslip-and
be does his best.'
"About discipline in the foundery-de M not find
it difficult TO enforce regulations among our work
men ~
mo; and our regulations are much moro strict
than in other establishments. forema here will
not submit to half the annoyances from )nrneyinen
that they are compelled to endure elsewere. Self
interest regulates that too. We have bylaw which
reads thus
ARTICLE H. ANY member refusing 10 AGENT employ.
ment when IL is preferred him by the Association sall
thereafter forfeit all dividends from me rohts Of me
same eNceut the dividends the capital tOck which
shall not exceed ten per cent per h,hhn al he tal
have no claim for employment "i'hih one year aI'er
such refusal
"Anothor saws further:
"'ARTICLE l6 Members employed by thisAssoclat alton
shall conduct themselves properly ana ior 90 Interests
selves dismissal by the foreman or snrrntendant
aud they shall not again be enr@yed witnut tho CON
4" Now these cover refusal TO do or Striking any
work ordered by the foreman, drunkcnr'sS waste,
and INSTRUMENTATION generally stockhcsier can be
dismissed at any moment If he hold, 20 shares,
| and can have no redress. The consequence Is that
every man is on his good behavior. We have had no
III Won dismissed a man with 70 share, conld he
not put them the street. and by turning them out
| 90 spectators cmharrass You -.
1--WE provide against that also II - OPTIONAL with
MS 20 transfer or retire stock and ~ e refuse 20
paw MOTE than the face Of the shares the cannot be
used for speculation OF course ~ the Csc supposed
| we would retire the stock, paving Tie S.WD, ana
selling the stock TO other mechanics. We anticipate
speculation in the stock some wears lshce IN tins
| way. Very few steady mechanics contemplate Nv
! ing the mechanics life forever Mtor tlhe' many
of the present members having run TIER shares mp
To $1,000 or $1,000 will wish To- go into business Tor
! mselves-peIhaps, as your MI n',Iey ADVISES.
into farming They will then sell out ter stock To
| other acceptable members. who arr N0nR ana want
opportunity Perhaps when the 2,sn slifes author
lied by law are absorbed, they VAL los a premium
! and the retiring member viii sell NJ ~ advance.
| This is the only kind of speculation possible III 0nr
! shares As the capital increases new ienlbeIs VIII
| he admitted new buildings erected me- machinery
added till shall finally reach the hut OF s5COOO
! capital" ,., .,
| There have as yet been no cash dfdenhs; all
! profits have gone 10 swell the stock. the ehd oil
the wear the co0pcrativcs have found themselves III
the receipt of only rs much cash the would have
| received at any other establishment or the same
amount of labor, but there las been plced rs much
more or nearly ~ much more to his cTdlt IN q STOCK
on which lac can Instantly raise the caSllt necessary
Take the case Of a. before supposed nth 40 shares
! OF stock His account surprising his VICES averaged
g. 80 per day for 300 working days vi stand thus
/ for 1865:
| Cash income from wages, 800 days. ats j0....So
Stock income, 10 per cent on 5000 ...-...... 40
Stock income on labor (as actually paidn 1863 GOO
Total ........... .................-....Sl,78
lie will thus have received fully. If ut more. than
! The usual income "A mechanic beside sick which lc
could sell for cash to the amount Of SlDj, without
| touching his principal of 1900 It's additional
| stock of course draws 10 per cent Vdend next
| wear. Compound interest AT this rat, Is very en-
| conragiug and gratifying DO not dobt, though l
| never enjoyed it except in auticpatOof that JOY
! ful moment when too may throw way the pen
| and become "a miserable lcoOpelatiN mechanic
Zone question more, Mr.. Mamie. Do,on Keep up
| ,,our ion with tho Trades I'ulDI'