The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1876-01-22

one OF these perforated sections,
and by pressure OH the pencils
the figures will appear on the
plain leaf below. The section
should then he torn off and given
to thh customer, who should de
liver it to the cashier, who will
take it from him and give him
a metallic check, which he will
take home, and which at the
end of the quarter will show exac
thy how much he has expended
at store. At the end of each days
business the cashier will cast up
the sum Of all the checks deliver
ed through the day, and demand
OF the manager the amount OF
money Received, and deposit the
same in a safe until banking,
hours in the morning. when he
will deposit the same in a bank
to the credit Of the society. The
committee will not need to meet
ottener than once each week for
about two two hours In the even
ing, when the secretary will re
port what money has been receiv
ed from sales during the week,
having received this information
from the cashier anal banker. The
manager will also report to them
what goods are required in the
store, and, as at first, present
samples and prices for their con
sideratiOn aud further orders. 1t
will thus be seen that dishonesty
in the conduct of the business is
almost impossible. At the end OF
quarter the committee should ap
point two of their number to 90
to the store and examine the
books of the manager ; also to
take stock of the goods remain
ing on hand. By this means they
will know evactly how much has
been sold. BY the bankers and
cashiers account they will know
how much has been received.
They will also learn how much
has been paid for rent, taxes,
light, fire wages, and all Incl
dental Expresses. Auditors APP
pointed by the society will also
examine and audit the accounts
and prepare a halance.sheet of
the quarters transactions, to be
submitted to the members in
their quarterly meeting. Having
thus ascertained what are the net
profits Of their transactions dur
ing the quarter, they will first
pay six per cent, or whatever per
cent may be agreed upon, as in
terest on the paid-u2 share-cap
ital OF the members In a well-reg
ulated co operative society they
will next appropriate ten per cent
OF the remaining net profits for
educational purposes, to be used
in imparting information on the
subject OF co.operation purchasing
newspapers Or boOks,ol otherwise
in efforts designed to spread ill.,
formation among the members of
the society. They may also, as
the society shall direct. ap,ropri
ate a small percentage for IL build
ing fund, sink ing fund, or any
other purpose that they shall
elect. 1t will yet be found that
the bulk of the profits of their
trade has been untouched. Having
now ascertaIneA how much has
been spent for purchases 10y the
MEMBERS, they will divide the re-
mainder of their profits pro rata
among them, according to the
amount of purchases OF each, the
checks III their hands showing
how much is due each member.
Non-members purchasing at the
store are usually paid h:lf as
much as members. 1t MAY not be
necessary, even in the first organ
l~zatlon, for members to pay up
more than one share, but each
should subscribe for at least five
share, and both the interest on
pald-up shares and the profits on
trade should he kept in the hands
OF the society and placed to the
credit OF the members until the
whole OF the share capital subscri
bed for has been fully paid. OF
course those members who have
paid up their share capital in full
should be permitted to take out
both the interest on their capital
and the profits of their trade, or
they may permit it to remain in
payment of other shares. In
England it is found that sixt,
per cent OF the members let their
savings lie in the hands of the so
cieties to accumulate. 1t is found by
experience in Great Britain that
the annual profits amount to
between thirty and forty per cent.
In this country they will be much
greater. The savings permitted to
lie and accumulate prove a Ger
tain means of support i'll old age,
md