Tama County Republican. (Toledo, Tama County, Iowa) 1867-1872, 1869-04-15
From the N. Y. Tribune.
COOPER A1lYC STOR ES

SoUTH ANBoY, n. j., Feb. 10
Among the many and ever G, mel al :ail
ures attending cooperative groceries
stores, and trading establishments
comes the report that store in this
place was a success and visit is mad,
10 ascertain the facts. South Ambo,
is at the mouth of Rartan River, and
is the land terminus OF the Camde,.
and Amboy Railroad, where the com
panys shops are located, and wher,
considerable ship building is going on
hence there Is large number O! me
chanics The credit system in the sci
ling Of goods being general, as it is al
SO III most OF the towns IN New -Jcrsey
the prices asked for all descriptions 0
goods were excessive, and the coop
erative store referred to was establish
ed to furnish goods at the lowest rate,
for cash only.
Some IS mechanics effected an or.
ganization, obtaining charter from.
the State Legislature. They com
menced business with \ capital OF IS ).
500. Their charter permits them t.
have capital OF $4,000, which is III
,,de,l into shares ol $40 each, and, II
understand it, the sum they ra;se,,
was derived from 4 per cent. paid ri
the shares subscribed. Each share i
entitled to vote; no member can hold
more than 80 shares, nor can shares b.
transferred except by consent OF tn.
Trustees.
Business opened brisk; they had i
general assortment OF groceries, boots
shoes and dry goods, and, during til,
first SIX months their SAT reached
$4,000. At the end of the first tire,
months dividend was declared OF !
per cent. At the end of six month
when the usual account Of stock wa:
taken, and the amount of cash on hanG
was compared with the sums paid fol
goods, it was found that there was :
deficiency of $1,000. This the Super
intendant was anablc % explain. Thcr.
were the books, all in good order
there were the goods: there was the
cash, and that was all he knew about
it. This meant that, during IL three
months; they had nearly sunk theil
original capital.
Only two courses could be pursued
One was to disband, the other to ga,
a new Superintendent aud start again
As they had a good trade, and a,
everything seemed in their favor, pro
viding by could have fair manage
mcnt, they concluded TO 60 ahead. \
new Superintendent, who had been a
ship carpenter, who had means, an.
whom they could trust. was appoiut.
ed, and new clerks were hired during
The first month, under the new order
they traded $4,000, and they are now
fading about $500 a day The aver
age profit on sales is about Is per cent;
and after taking out expenses, they
probably clear about $40 day They
think that in from six to nine months
from this date, they will be entirely
above board, when dividends may
again be expected.
l found that they are selling goods
at prices something less than they are
sold in the cheapest stores in New
York City, or in any other part OF the
country. Still, OF course, there are
certain leading articles, such as sugar,
cotton cloth, and tavorite calico .s
which cannot be sold below certain
figures, and they are seldom sold much
above.
In short, it is first.ratc place for
family to trade, and the Supcrintend-
ent and his clerks act as though they
wanted people to trade, which condi
ton gives pleasure TO two parties.
Some things look little heller skeltcr,
but where customers crowd, and where
all sorts of goods are kept, disorder is
more or less unavoidable.
TRENToN, n. AT this place
cooperative store was started in 1865,
with a capital Of about $4,000. The
members We're, for the most part, Eng
lishmen. engaged as workmen in man
establishments. The num-
Der OF shares is limited to ten for each
member, and no one is allowed more
than one vote. 1t is in the agreement
tat the members shall not trade at
any other store. Interest is paid on
The capital to the stockholders. In
addition, they are to reeve dividends