New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-01-29

began. When the new law was adopted IN MAY
1866 il WAS reorgauzed, dropping several OF Its ODD
ectiouable features and adopting two or three other
peCuiartics which experience had suggested oho
of the features omitted was part OF the otigina
of tie Work ingmsn's Charitable Cooperative HS-
sociotion of Cbarleslown and Vicinity" As co0pcra-
tion ism no sense charity but is rather based on
tLe very opposite idea Of sclfhelp, the offensive
word was dropped Among the pecuilailtoS OF tho
present organization which are worthy the cohS'"c-
ration of co0peIatives, present ana Prospective "'o
the following: An admission fee OF 81 over ana apo'o
tho charge for tho stock is required of each member;
il is devoted TO paying the expenses Oh h'eo'''es'
mining. &c. The profits are divided on peculiar
system Fest Of all 10 per cent is laid ASIDE as Oo
law requires. as a sinking fund. Next, per cent on
the capital is laid aside as interest. All-not per-
centare only, of the profits derived from sales to
stoclbolders-are returned to them in tho form
Of a trade dividend" thus furnishing stockholders
their goods at actual cost Next, two-thTds OF all
profits derived from sales TO stockholders is re-
turned to them, each sharing according to the
amount Of his trade OF the remainder of the profits
per cent Is Paid to members as stock dividend
the balance going to swell the sinking fund.
The business OF the first year ending Sept T. 1863,
was conducted on the club SYSTEM; 1t amounted
to $70.0SO GS the profits paid in dividends aggre-
gated $40 81. During the last quarter of this year
the Association rcorganized under the law, and
il was decided as o measure calculated TO extend
trade and attract custom. to pay dividend to new
stockholders on the amount of their trade with the
store and system of tickets checks, like those
adopted at Fail River and described elsewhere, was
introduced. The gratifying result for 1866 is shown
by the following figures Amount Of trade $Sl,O5S;
total dividends over and above sinking fund.- PASS H.
OF this amount SSS "a was paid TO the nOn-sockhcd-
ing customers. The importance of attracting "out-
side custom" is shown by these figures, OF course,
in cooperative association the chief profit Is made
not on sales TO the members themselves, to whom the
profit is returnable but on the trade TO new mem
bers. The more of these the greater the business
and the larger the percentage of profits on the same
amount of business. 1t will be seen by comparing
the above figures. that while the business was In
creased by the adoption of this policy only one
seventh the profits realized were three and n hall
times as large as before.
On this nearly perfected system the establishment
has since been conducted, each year witnessing al
increase of trade capital stockholders, and profits
In October. 1866, the 1900 shares originally issued
! were Sold and the number was increased 200, max
ing the capital stock 5000; six months later fur
ther increase was demanded, and 100 more shares
were sSucd three months later these were absorbed
| and an increase of 1000 shares decided upon
making the capital stock sl25OO in 800 shares of :
each At the end of that year. 1861 243 shares wer'
! sold to 4Gi members. Tho store had beside about
900 regular non-s,ockholding customers. The fol
! LOVING is a tabular statement of the amount o.
trade dividends &c. for the five years Of its opera
| 4;,,, tcC mt. nlnr1