Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1873-01-04
Co operative Car Building.

WIIMINGIoN MEG HANICs BANDING IoGErH-
ER-InEY DECIDE To BUILD CARS on THE
COOPERATIVE TLAN FORMATION OF AN
AssoCIATIoN FOR THIS PURPosE-sIIE
FOR THE NEW ENTERPRISE NoI YET DE-
IgRMIsED UPON.
Cooperation having worked we'll in the
morocco business here, another branch of
iudu try iD this city Is about TO try the
cooperative plan. This iue II IS the
iuurneymen car-huildr-s who are 10 band
together. To cary out their designs in
this respect, a meeting was held on the
evening OF the 2lsi inst, George Roberts
presiding, at which much preliminary
work was transacted, and committees on
Hall, Way and Means and Selection of
Site were appointed. The NEE ing was a
private affair, but we are enabled to give
all the facts brought out.
About ffty men were present, all master
mechanics. Propositions were received
from several parties, looking to the estab-
! lishment OF the new works ut Keunett
Square, oxford, Coatesville. and Summer
vile, and liberal-iu some cises almost
] fabulous--indueemcn we're offered.
A gentleman of means living at Oxford,
offered TO appropriate laud Sufficient upon
which 10 build the works, to donate $1,000
and to loau the Association for a term OF
years. S25,O0O. Kennett Square offered
buildings and machinery, rent free.
Coatesytlle offered to douate all the land
needed by the Association aud appropri.
ate, probably, as much as $4,000. Sum
meryille, owned by the cooperative Build
ing and Land Association, offers free, all
tho land necessary. These are excellent
offers, and unless Wilmington can do as
we'll, she will probably lose two hundred
of her skilled mechanics, for the Assoeia'
tiOn Is TO be composed Of this number.
Nothing has, as yet, been definitely deel'
dcd upon, save an unaiterable determine
tion on the part Of those interested TO try
co operation in car building.
meeting for permanent organization
will be held soon. In the meantime the
committees appointed are hard at work
corresponding with parties who made otteri
at the last meeting, and preparing buslnesi
for the next.
In conversation with one ofour reporters
a gentleman foremost In the movement
gave the following as the plan upon which
the association will probably be formed;
Suppose the amount Of capital needed
for shops and machinery ana material b'
$50, 900, and We issue 1000 shares OF stocl
supposed to be worth Sl00 each, payment
To be made on this stock monthly, as arr
the loan ASSOCIATIONS, luls htOck 10 p'
subscribed to by 200 men, and the work
projected he calculated to give employ u
that number, 10 twelve months We hav,
reached ,ho am m1uut needed and II judi
cjous Use has been made of time ant
opportunity We should be ready to com
mence business.
Our idea is that payment upon stool
shall cease when we become employees o
the company, and tho remaining indebted
ness be charged against the earnings O
the works, all earnings over this require
nent TO be sold within tue association /
The highest bidder, he TO pay Interest upo
I, the sum sold to him, aud the principal /
be secured to the association by mortgag
, upon. real estate. We think the earnin
al concern with such capital should b
equal TO this.
80