The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-04-27
GIGANTIC COOPERATION.
The Plan of John Jarrett and Andrew
Carnegie for Benefiting W0rkinemen.

The Plan of John Jarrett and Andrew
Carnegie for Benefiting Workingmen.
Pjttsburg Dispatch.
John Jarrett, ex-president of the Amalga-
mated Association, and Andrew Carnegie the
iron and steel manufacturer are interested in a
big scheme for the benefit of the working
classes of this country The scheme originated
with Mr.. Jarrett, and he has been assured of
the assistance of Mr.. Carnegie. It is not likely,
however, that anything will be done until fall
The project is CO operation on an unusually
large scale. It is proposed to establish distribu-
ton, productive and credit systems exclusively
in the interest Of members of organized labor
When the plans are completed, which will be in
the fall, large general store and a working
mans savings bank will be established in this
city.
Mr. Jarrett has been at work on the scheme
for several months Letters explaining its OBJ
Jects were written to different assemblies of the
Knights of Labor and other labor organizations
in the leading cities of the United States Fa-
vorable answers have been received to these
communications and much interest is being
taken in the movement. The full details of the
enterprise could not be learned, as Mr. Jarrett
could not be seen last evening. Several men
who propose taking stock explained the scheme
as follows
ssNo one but workingmen or members of labor
and no man can hold more than 5000 worth. If
a man desires to go into the company and has
not the amount of money required, he can de-
post portion Of his earnings in the bank On
these deposits he will receive 8 per cent. in
terest. Bankers say that money is going beg
ging at per cent, and l cannot understand
how they can afford to pay more than that
amount. OF course, Mr.. Jarrett and Mr.. Carne-
gle would not go into thing of this kind blindly
and believe they will be able to keep their part
of the agreement When sufficient f,nd has
been secured to start the bank and store they
will be established in this city. central and
convenient location will be secured. Everything
that Is used by workingman and his family
will be kept in the store. Prices will be lower
than at other stores, but there will be a profit
every six months or deposited to the credit of
the stockholders 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 as soon as pos
sible. After this scheme has been tested. build
ing and loan associations will be organized, the
main object being to erect homes for the mem
bers.
I'm time there will spring out of this move
ment cooperative rolling mills, steel mills foun-
dries, factories and machine shops. Working
men will soon become interested in the move.
ment, and instead of spending money in saloons
or for pleasure, will deposit all they can spare
in their bank With men like Andrew Carnegie
and John Jarrett behind the scheme, there is
hardly any possibility of failure
Some time ago this paper published rumor
to the effect that Andrew Carnegie intended to
turn over the Edgar Thomson steel works to
his employees, making it q cooperative establish
ment The rumor was denied, but the men
were assured that their employer intended to do
something for their benefit but it was not known
until lately that he was associated with Mr.. Jar
rett IN huge cooperative enterprise. Father