The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1879-06-26

80 90; August, $40 90, Corn-July, 30
@S61S; August, S71s.
CHICAGO, June go, 1900 M.-Pork-
July, 80 90; August, $40 OF. Corn-July
So; August, 81. Wheat--July, 981s
August, 9oK.
BUILDERS AND LOAN ASSOCIATION.
Editor Cairo Bulletin
Not long ago you called attention. to the
fact that an effort was being made, by the
mechanics of Paducah, to effect the organi.
cation of Builders and Loan Association
on the cooperative plan; and you wisely
said that a similar organization could, with
profit to its members, be effected in this
city.
Since your statement to this effect, I
have given the cooperative plan, in general
some thought, and I am surprised that the
colored people of Cairo (who almost to
man depend upon their wages for living,
have not ere this possessed themselves of
the great advantage which would result
from the establishment of General Store
on the cooperative plan. This plan, in this
country, England, France, Germany, or
wherever it has been understood, has re-
ceived the appreciation of the laboring
classes, and has been successful wherever
the strict cash system in buying and
selling has been adhered to.
Prof. Fawcett, in his manual of Poll
teal Economy" says that the cooperative
movement in England was first commenced
at Rockdale. About 1874, few working
men in that town suspected, and no doubt
justly so, that they were paying a high
price for tea, sugar, and other such articles,
when they at the same time believed they
were not free from adulteration. They
therefore said, "Why should we not club
together sufficient among ourselves to pur-
chase chest Of tea and hogshead of
sugar from some wholesale house in Man
chester9" This they did; and each one of
their number was supplied with tea and
sugar from this common stock, paying
ready money for it, and giving the same
price for it they had been charged at the
shops. When all the tea and sugar had
thus been sold, they agreed to divide the
money thus realized among themselves, in
proportion to the capital each had sub
scribed, They found, to their surprise,
that large profit had been realized. The
great advantage OF the plan became self
evident; for not only were they provided
with lucrative investment for their saw.
ings, but they obtained unadulterated tea
and sugar at the same prices they had been
previously obliged to pay for the same
articles when their quality was deteriorated
by all kinds of adulteration. This associa.
ton is now most powerful and wealthy
possessing large amount of real estate,
tlour-mills, woolen-mills, etc.
But to return to Cairo. The first stock
Of goods need not be large one
a $1,000 stock Of groceries will be
ample. To secure the $1,000 1t is only
necessary to find one hundred men each of
whom will subscribe $40. This, in Cairo
where the negro population is so large, can
hardly be looked upon as an impossibility;
and, the concern once under way, it would
am satisfied, in time, excel any retail
grocery IN the city; and the colored people
would feel in 1t u just pride. 1t must be
remembered that there would be no wait
ing for customers, in such a concern, or the
building up Of a trade, but the customers
Of the establishment are already secured
without effort, and their patronage certain,
since they will be for the greater part in
tcrestcd as members OF the concern.
The managers of the business must be
chosen by ballot, by the general body Of
shareholders, and since every shareholder is
interested in the success Of the business it
is not likely that u poor selection will be
made. If, however, dishonest and incom-
petcnt men are chosen rs managers, disap-
pontmcnt must be expected, and the co.
operative store may turn out some
thing rs did the Freedman's Bank.
With regard to the distribution Of the
profits a sufficient sum should at first DO
allotted to pay dividend Of five per cent.
on the capital, and the remaining profits
should DO divided quarterly on the follow