The Osceola times., 1886-07-10
GIGANTIC COOPERATION
The Plan OF John Jarrett and Ana,.-
Carnegie for Benefiting workms.

The Plan of John Jarrett ana Ans
Carnegie for Benefiting workmsa-
John Jarrett, ex-presidcnt Of N.
Amalgamated Association, and Andrea
Carnegie, the iron and steel mannias-
turer, are interested in a big schemef "a,
the benefit of the working classes Of mi,
country. The scheme originated with
Mr.. jarrett, and he has been assured q,
the assistance OF Mr.. Carnegie. Iii.
not likely, however, that any thing win
be done until fall. The project /. CO.
operation on an unusually large ssle
Il is proposed to establish Distribution
productive and credit systems esclp.
siyely in the interest of members of or.
panized labor When the plans ara
completed, which will be in the fall t,
large general store and a workngman's
savings bank will be established in this
city.
Mt. Jarrett has been at work on the
scheme for several months. Lettersex.
planning its objects were written to diff.
ferent assemblies of the Knights of La
bor and other labor organizations in the
leading cities of the United States.
Favorable answers have been received
TO those communications, and much in.
terest is being taken in the movement
The full details of the enterprise could
not be learned, as Mr.. Jarrett could not
be seen. Several men who propose tax.
ing stock explained the scheme as fol-
lows:
"No one but workingrnen or men,
bers oflabor organizations will be per-
mitted to take stock, and no man can
hold more than two hundred dollars
worth. If a man desires 10 go into the
company and has not the amount in
money required, he can deposit a por.
tion Of his earnings in the bank. On
these deposits he will receive eight per
cent. interest Bankers say that money
is poing a begging at five per cent, and
can not understand how they can ai-
ford 10 pav more than that amount
| OF course, Mr. Jarrett and Mr.. Car
negie would not 90 into a thing Of this
kind blindly, and believe they will be
able TO keep their part OF the agree
ment. When a sufficient fund has been
secured to start the bank and store they
| will be established in this city. CEN
tral and convenient location viii be Sc
cured Every thing that is used by a
workngman and his family will be
| kept in the store Prices will be lower
than at other stores. but there will be a
profit for the stockholders, and diyi-
dends will be paid every six months or
| deposited TO the credit OF the stock
holders in the bank. A number of de-
| livery wagons will be sent all over the
cities daily for the purpose OF receiving
and delivering orders. These stores
will be established in all the leading
cities of the country a. soon as possible.
/ After this scheme has been tested, build
| ing and loan associations will be organ
lied, the main object being to erect
/ homes for the members.
"In time there will spring ont OF the
movement cooperative rolling mills,
steel mills, foundrics. factories and ma
chine shops. Workingmen will sooI
become interestetlin the movement anC
instead OF spending money in saloon
for pleasure, will deposit all they eau
spare in the bank With men like An
drew Carnegie and John Jarrot bchinc
the scheme, there is hardly any possi
bility of failure. PafsJHrgh Dispatch