New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-01-29
Total. .$6g3.742 90

Annual average. loo,i4o Oo Z,'5t II IL
OF this total of profits which, it must DO remem
bered, is exclusive of the amount placed to the
credit of the sinking fund, $GCS3 81 were paid to
stockholders as the profit the sales to thcm and
| $l,45S a were paid the same as q stock dividend ;
while 1870 81 were paid to non-stockholders two
thirds of the profits realized ON their custom. The
capital stock paid an average interest of III per
cent over and above the 10 per cent required by law
to be paid into the sinking fund-or in other words
total Of 2l.7 per cent in all. To most practical
erocers this will appear a very handsome return on
! five wears operations, with capital varying from
| $500 TO $1,000
The great error Of the management OF this Associa;
tom of most of the others. las lately become rip
paTent 10 the Board Of Managers ana now 10 remedy
IT is question agtating the Association. The error
lies in the discussing of the prolts-scatterug them
to the four winds instead of boarding them; and the
managers appreciate the falacy of distributing in
insignificant sums to individuals the large amount of
| the Aggregate profits realized. Here in five years,
for Instance $2S13 Is have been distributed among
several hundred-oyer thousand indIvduals-in
sums ranging from SOC. TO as many dOllars-the ma
ory of them being 70 apparently lDsg4liGant as to
" T9HS on n i1 E Rc "a P aIs Sp
two of gIOg. Most of the customers" said Mr..
Spauding, "spend their dividends before they leave
the store. put the cash in their pockets spend
ing-money" The profts-Yery considerable in the
agTcgate-are simply wasted, ~ merchant in
business for himself would think for moment of
wasting his profits. Instead OF beng thus lost. the
managers are now, urging that they ought to 90 to
swell the capital stock. The leading members
are agitating, two plans. The, first is the
payment of all dividends in stOck--the simplest
aud safest way as it keeps the money employed in
developing the one business to its fullest extent
The second plan embraces the addition to the bust
ness of a cooperative savings bank. the dividends
to be placed TO the credit of individuals and the ag
gregate deposits to be loaned at interest and on
- IN tl.arrN late
than the present system and one or the other will
probably be adopted
OTHER STORES.
have chosen to give the story Of these four stores
as illustrative of the operation of tho forty odd
Others in the State There are others, however
which have their peculiarities. The Springfield
store for instance, grew out of a movement on the
part of the worlnen in the shops of the Boston and
Albany Railway to buy their soap cheapy. Naturally
workers in iron use large quantity of soap and the
men i'll the railway shops bethOught them of buying
by the box instead of the bar. Little experiences
educate more rapidly than grand theories. From
one mans buying SAYS The Boston Journal Of a few
DAYS ago at jObbing figure, box of soap for HIM
self and fellows to use in the shop, the business has
grown till 1t compasses the supplies of -four sugars
and most of the groceries required by fifty families
The accounts show monthly disposal Of 100 barrels
Of crackers 200 barrels of -four and % barrels of
Kerosene with 800 boxes OF rasins and 30 chests of
tea per year, with potatoes beans, and apples to
match. Something is done. also, in meats, butter,
and cheese. The prices are claimed TO bo about 20
per cent on from the rates oil Tn" retail stores"
The Haverhlll store was begun by an effort of OPP
eratves to get their Goals cheaply. and during the
first year of It's operation. 1900 TINS sold ut
tail at cargo prices. Ia the way, the Salem
store makes speciality of -four and has sold, this
Yeai, 1000 barrels at cost 10 its stockholders.
FAYORITE STOCKS.
have explained in former letter the effort at
legislation TO make stocks in cooperative assoca-
tions favorte with the working classes BY the
amended law, these stocks, TO the amount Of $50,
exempted from attachment. One or two of the
stores have adopted policy which further tends to
make their stocks fayOrtc ones with the poorer
classes. The Fall River store. for instance, while
doing strictly cash business, has regulation au-
to give credit TO any member TO the amount of his
stock, provided the Managers or Agent satisfy them
selves that the member asking 10 is IN in
digent circumstances and needing assistance.
The operation of this law IL best cX-
planned by an incident which, / am told
occurred during the Winter of 1863 stakeholder
TO the amount of $50 fell i'll of typhoid fever and was
confined for six weeks to his bed. When taken III
he had inst paid his last savings into the store for
stock aud while i'll was wholly without income save
such small sums rs his wife could earn nj washing,
&c lie asked credit from the store and received IL,
thus saving him from the alternative Of selling his
stock al a rtnOus rate, or going I'M debt elsewhere
for his supplies. lie received regular supplies of coal,
provisions Co. during his whole Illness. At the end
of the six weeks when ready TO return TO work he
found two of his shares gone and only part of the
third remaining this he FASTENED TO redeem and
hold out of his first savings The others were can
celod If il had not been for tins credit during the
time no was disabled the poor man would
his bed under him. or been forced TO go 10 the hOsp
tai an object Of charity and burden 10 the State
Such regulations are calculated 10 gave the stocks
value TO woikingmen winch 10 othels possess ana