The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1871-05-27
Progress of Cooperation.

On Saturday February Ia, 1871, there
was a meeting at Odd Fellows Hall, Md
lesburgh, England, Of the partners Of the
great firm of Fox Hesd d Co., conducting
the Newport Rolling Mills. and their
workingmen for the purpose Of giving IN
account of the operations Of the year, and
declaring bonus, under scheme Of co
operation, adopted in February, 1870.
MI. Fox, on taking The chair as Presi-
dent, made an interesting speech, and was
followed by Mr.. Head, the partner who
had been most active in Introducing aad
managing the scheme which admitted the
workingmen to participation in profits
Mr.. Head at the close of his speech, intro
duoed Mr.. Warehouse, an eminent pro-
fessional accountant of London, who read
bis certificate to the effect that the business
OF the year, as shown by bis examination
Of the books Of the Company, justified
division, under clause II of the Scheme of
Cooperation, ola bonus to the employed Of
four per cent, upon the wages and salaries
received BY them during the year. Mr..
Waterhouse said in addition, :" / congrat-
nlate you very much on the success of last
years working. 1t seems to me q very
satisfactory result would like to say
few words about the future | shall be
glad to meet you all next year at this time,
and shall be still more pleased if there is
bonals to be declared then. That will de-
pend upon three things. First, upon the
general state of the iron trade. 1t may be
good or it may be bad in this district.
For instance, the horrible war has affected
it this year. In the second place, the pro-
fit will be Influenced by the management
| think we may be certain that the manage
ment will be right. In the third place, il
vii bc affected By your own exertions, in
keeping the cost OF articles to BE- sold as
small as possible, and your own exertions
IN -aV'nss waste Every pound Of fuel
time saved, VIII 20 to be added to the
5onUs of next year.
Mr. Head then said that the bonus would
be paid on the next Saturday, and amount
cd in all to sixteen thousand pounds, equiv
alent to eighty thousand dollsrsl He ad-
vised the men TO take care Of this money,
and to patronize the Newport co operative
store. lie quoted at length from q pam
pbiet by Prof Stanley Jevons, "On In
dustrial Partnership" showing the advan-
tages Of this form Of cooperation over emery
other that has been tried. He further cited
a speech Of Mr.. Thomas Hughes in which
he said +" be had gone down a few weeks
since to the Cleveland iron district, arbi-
traitor betw cen the masters and the men, on
question of the advance of wages. Some
fourteen or fifteen men sat on one side OPP
posite to fourteen or fifteen masters on the
other, and the only factory in the district not
represented was that Of Messrs. Fox. Head
& Co., and from them be bad a communica-
ton stating that they had just divided q
Jon,ts for the past year, and were perfectly
contented He quite agreed with Prof.
Jevons that this system offered the best
solution that had yet been arrived at the
treat labor question. He quite felt that by
the system arbitration it was necessary to
have Two hostile organization. While the
men we're kept in ignorance and could only
form a guess at the masters profits, per-
manent peace could not be hoped for, such
as he thought would come about by the de-
velopment Of the industrial partnership
system. Those that had tried it deserved
we'll Of their country. They had done
more for the prosperity Of England, and
for its establishment than many that bad
made more noise" X
After Mr.. Heads speech furnace-man
moved vote Of thanks to the firm, which
was carried with cheers, and then another
workingman stepped on the platform and
favored the company with an original song,
after which the meeting broke up in high
good humor.
We shall be glad to chronicle like ex-
ample Of liberaGty and business sagacity in
the United States