The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-04-23

SUCCESS or COOPERATION.
How Nine WOrkingmcn Founded m ~.
ISOLATION That shows Great Resulta.
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1hOW xSbuC VOINsuSHbCn EVWUOOS1 - lD0s
sociation That shows Great ResultA
Irhi!adelphia Times.l
The Philadelphia Industrial Cooper
ativc society timitedD is the name OF q
very fiourishing association which has
lately opened grocery and provision
store on ederal street, above Sixteenth.
of considerable dimensions. Fally in
the year ISL nine Enylishmen
who had settled in Kensington,
dissatisfied with the expensive
credit system Of purchasing goods, by
which the consumer has to pay two
profits, determined to do business for
themselves on q more reasonable and
cheaper plan. They clubbed their re-
sources together and bought groceries
at wholesale rates, and meeting once q
week in the parlor of one of their resi-
dences, on Frankford avenue, each took
away to his home what he thought q
net essary supply for the ensuing week.
This quiet little way of doing business
could not long remain secret and it
did not. In 4 very short time num-
Der Of fellow -countrymen signiiied their
desire to join and form cooperative
society on the plan and basis which has
long been working successfully in Eng
land.
Accordingly these nine men went to
work and drew up the articles of the as
sociation The purpose was to carry on
business as general grocers, provision
dealers and clothiers, wholesale and re-
tail, and also to manufacture articles of
necessity and usefulness as they might
from time to time agree upon. The
capital stock was to consist Of $780, 900
in dollar shares, payable in advance or
in monthly instalmcnts of not less than
% cents. To prevent any undue power
accruiny to any one person the society
limited individual holdings to two hun
dred shares. No member is liable tor
any debt of the society beyond the
amount actually subscribed for. 10 be-
come a member it is necessary to own
Eve shares, which are not Withdraw
able.
In very short time central store
was started at 25j1 trankford avenue
and the business flourished from the
| first. Each member received check
with the goods purchased, and received
per cent. interest on sum in
vested at the end of the year. Every
purchaser not member received :, per
cent. on his outlay. The goods were
bought for cash at Wholesale rates and
sold at the store prices, and large
profit was made over and above the q
per cent. Of interest divided among
shareholders and non-members. The
consequence was that very soon another
store was started at .oO,. Germantown
avenue, followed by one at 2,lo kens.
ington avenue. four on front street, q
shoe. dry-goods, grocery and butcher
store, and lately the new one on Fed.
eral street.
Tho membership is now over 3, 100,
and tho weekly sales average $4,000.
The society now owns the real estate Ol
all the houses mentioned, aud by the
tenth annual report, made last >>0yem-
Der, besides having paid out some $3.50,
900, they have IS, $40 in cash, $3,alO in
the reserve fund and $73 in the con-
tingent fund.
This remarkably successful enterprise,
started ten years ago by nine English.
men, has resulted in great associa-
tion, owning buildings and stores in
various parts of the city, acting
IS = savings bank to over 5000 people,
who might otherwise have never thought
of putting money by for 4 rainy day,
and being practical demonstration OF
the feasibility and advantages of coop.
crative associations. 1t is peculiar
fact that nearly all tho members and
shareholders are English people, who
seem to have understood the benefits tc
be reaped better than persons Of Amer
lean birth.
The success of the Philadelphia In
dustrial Cooperative society has stirred
several other societies into existence
but either from want of patronage OF
from working OH Il wrong basis, they
have nearly all fallen through after I
very brief life.