Morning journal and courier., 1886-04-30
GIGANTIC COOPERATION.
The Plan of John Jarrett and An- drew Carnegie for Benefit1nS Work

1ngmen.
 From the Pittsburg Dispatch.l John Jarrett, ex-president of the Amalga- l mated association, and Andrew Carnegie, the l iron and steel manufacturer, are interested | in big scheme for the benefit of the wGrk- ing classes of this country. The scheme originated with Mir. Jarrett, and he has been assured of the assistance of MT. Carnegie. It is not likely, however, that anything will be done until fall. The project is co-opera tion on an unusually large scale. It is pro-
 posed to establish distribution, 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 workingman's savings bank will be established in this city. Mr. Jarrett has been at work on tine scheme for several months. Letters explaining it's objects were written to different assemblies of the Knights os Labor and other labor or ganlzations in the leading cities of the Unit ed States. Favorable answers have been re- ceived to these communications, and much interest is being taken in the movement. The full details of the enterprise could not be learned as MT. Jarrett could not be seen last evening. Several men who propose talk ing stock explained the scheme as follows:
 
 labor organizations will be permitted to take stock, and no man can hold more that S2OO | worth. If man desires to go into com pany and has not the amount of money re- quired, he can deposit portion of his earn ings in the bank. On these deposits he will l receive eight per cent. interest. Bankers say that money is going begging at five per cent, and I cannot understand how they can afford to pay more than that amount Of course, MT. Jarrett and MT. Carnegie would not go into a thing of this kind blind ly, and believe they will be able to keep their part of the agreement. When suf- fcient fund has been secured to start the bank and store they will be established in this city. A central and convenient location will be secured. Everything that is ] used by the workingman and his family will be kept in the store Prices there will be profit for the stockholders and dividends will be paid every six months or deposited to the credit of the stockholders in the bank. A number of delivery 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 possi- ble. After this scheme has been tested, building and loan associations will be organ ized, the main object being to erect homes | for the members.
 ''In time there will spring out of this | movement cooperative rolling mills, steel mills, foundries, factories and machine ! shops. Workingmen will soon become in l terested in the movement 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 ru nor to the effect that Andrew Carnegie in- tended to turn over the Edgar Thompson steel works to his employees, making it operative establishment. The rumor was denied, but the men were assured that their employer intended doing something for their benefit but it was not known until lately
 that be was associated with MT. Jarrett in 8 huge cooperative enterprise. Father Hick- ey's remark to the men some time ago that
 ''there's better time coming is now ex-
 plained.