The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1869-07-10
FROM MARYLAND.

FROM MARYLAND.
BALTIMORE June 20. 1869
To the Editor " the wcsKBsSAS's AuvocArs:
THg C0ACHNAKERs.
regret 70 state that this organization has
become defuuct. Il wound up its affairs with
clean balance sheet some weeks ago. From
what can learn Of the dissolution Of this or
ganIzatioa, it appears that tie men general
ly would not pay % their monthly dues, and
the few that did keep stragh; % the books
concluded It vas no use TO keep VI a society
FOR those who did rot want 70 IDENTIFY them
selves with il, and 80 they wound ~ their
affairs and breathcd their last in a very he.
roic manner May the Lord have mercy ou
thelr-Dookets, for they need some one to
pray for them.
TIE COOPERATIVE MOVEMENT
of this trade has also gone the way Of all
flesh This il another example " timidIty
on the art Of workingmeu. The Coachma-
kers' Cooperative Association had sold
sufficient number Of shares to enable them
70 have started business wv the course 0f two
years. But this was too slow for The g0-
sheadtiveress Of the leading spirits VI the
movement, aud because they could not &C.
compIsh their object lu one year ~ less.
they wound up che affairs ot The ass0cIa ti0u.
ana nov The c1aChnakers 81 this city are
nOnentty having proved 70 the Baltimore
public that they are incapable ~ sef-gOyern-
men, content w be willing slaves % their
HlSfeTS.
TuE IB1N H1ULnERs
Oh this city, ever watChtul OF their interests.
q. on ghe move "A mass meeting 0f two
bTanches-machine and holiowware mould
er>-was held 0n Monday night last, bull cir-
cumstsnces prevented your correspondent
from being present, and NY s, therefore. ~
uarant u what pir-d nevertheless you
NAV TOOK for che particulars next week
woBRfSGgEN's LOAN And DEPOSIT AssocIA-
TIUS
a few weeks ago mentioned the fact that
~ association under tile above tile vas be-
ing organized, and that it was 70 be cOmpos-
ed entirely ~ workingmen. MANY booted AZ
the IDEA No wgTkInEmeH starting such an In-
stiJuuOu and predicted All sorts 81 nishaps-
But uOta outstanding che diraful warnings of
the cr0aKeTs, the association was organized
ana put into practical operation. From the
report Of the treasurer Il appears that, dur
ng the two months it has been I'D operation
(Aprii aud May, there has been received for
shares and yu deposit $500. and for the same
period tbs have loaned Out S24j. and hsve
n bank nearly $50. The company has just
ssned the following circular, and, as il NAV
induce Others throughout the country 10 fOi-
!ow Their example, with your permission,
viii inert 10 fu
Tbs Workingmen'- Deposit and Lor- Com a
paHY of Baltimore City is c0rporatICn organs
lied under the provisions Of the Ice Of the
General Assembly ~ Maryland chap All, for
.He following objects lst. To receive savings
ali deposits. INA. To purchase. hold ard Dis
pose .of property, real personal and mixed /;
making advances upon lands, buildings and
other securities Instituted bv and composed
entirely Of wOrhnEmen selecting ID officers
from the ranks o. is membership, il affords
t0 mechanics aUd lab0ryrs tUe rare opportunity
1f becoming members Of an association con
tr1lled by those whose interests are identical
with their own, and conducted 10 the trae CO
operative principle. IL is in fact, d savings
bank, having All the opportunities Of profitable
Investments offered % mOnied institutions, and
distributing the WHOLE ~ its profits among lie
members 10 affords to mechanics of limited
means the necessary capital TO commerce and
carry On a business. For instance. t0 a house
carpenter wishing TO commence business Cor
imself, 10 will advance fhe funds necessary 10
build house or houses, requiring 10 security
but the building ITSELF and releasing all claims
thereon whenever be las an opportunity Of dis
posing "a his work. To persons Sithdrauing
from building associations II advances tie
money az reason Pile rate saving them from
the clutches WI sharpers. These ere only eH
amPlcs Ut its profits are unusually large,
chiefly from the fact chat liz loans are for saORr
periods on lie BEsT securities, and on account
Of the great demand On b association known
70 be ndueLel on such principles its tunds
NE never idla. IN addition ID TIE above in-
ducements, e adds the fact that It seeks 10
profits AZ che expense Of ils own members
The capital stock is arranged "a the basis 0 f
large nutlbsr ID shares OF a small par value
each Thirty thousand shares of tie par valae
81 thirty dollars each, payable in instruments 81
twenty-five 0r more cents per week. The Ad-
vantages Of this arrangement are manifest the
small par value 81 a snare enables the holder to
pay all the instalments IN tin few weeks, and
frees INN from the cOntingg ncius or years OF
weekly payments and the eKigeacies Of bush
ness and health 70 All Ut which Ivy Il exposed IN
building society. He may subscribe for only
ole share IL a tim /, aud when tuat u paid up
he may subscribe for another Fer each share
--,ifcate ~ gwen which hls value w tHe
market, q 2 on which the company itself is al
WAYS willing % make al advance Should she
holder be overtaken By any nee ssity which
prevents his weekly payments, he may, by Civ
ing notice 20 the directors, 10 released from
fines for twelve weeks; prov ded, however
that he has paid dues 10 the amount Of ten dol
lars on his share. Dividends are declared semi
annually. In addition t. the capital stock che
company receives deposits % which IA silc rs
per cent. Interest caicula ed mouthly
SALE ~ A NEWSPAPER.
The C0mmeric1l, an evening paper Of the
order has found Il convenient 10 sea out.
The C0mmsrciat has had ''5ad luck. III When
il threw off the garments and surroundings
OF the Clipper, an old Wing knOF-uothinE,
anti Ca hoiic, abolition organ, Il aspired tO
the dignity Of three cent daily Failing
to make Bit ii that direction, il ca ne out
as a one cert morning paper in opposition
to the Daily San. Il soon learned Il could
not exist on that scale, and tried 10 fni an
existence as a two cent evening journal
After hard struggle il has giv-n up the
ghost and sold its sppurtenances 70 the De
cratic Association Of this city for four thou
sand dollars. II toGs afraid 10 esDOUse fis
cause Of Labor. We may now expect to see
a Simon Pure Democratic organ in this city.
There are but TWO 81 that class Of course
there must be three 70 SUIT the factors.
EERITAs