Evening star. [volume] (Washington, D.C.) 1854-1972, 1886-04-27

The Plan of John Jarrett and Andrew
Carnegie for BeneGting working.
men.

From the Pittsbury Dispatch
John Jarrett. ex-president of the Amalga-
mated association, and Andrew Carnegie, the
iron and steel manufacturer, are interested in
q 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 cooperation on an unusually
large scale. 1t is proposed to establish distri-
button, productive and credit systems ex-
clusively in the interest OF members of organ
ixed labor. When the plans are completed,
which will be in the fall, large general store
and a workIugman's savings bank will be es-
tablished in this city.
Mr.. Jarrett has been working on the scheme
jects were written to different assemblies of
the Knights OF Labor and other labor organiza-
tons In the leading cities Of the United States.
Favorable 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:
labor organizations will be permitted to take
stock, and no man can hold more than 5000
worth. III n man desires TO go into the comp any
and has not the amount of money required, he
can deposit a portion of his earning in the
bank. On these deposits he will receive eight
per cent Interest. Bankers say that money is
going begging at five per cent, and cannot
understand how they can afford to pay more
than that amount. OF course MIR. Jarrett and
Mr.. Carnegie would not 90 into IL thing OF this
Kind biindly, and believe they will be able TO
Keep theIr part OF the agreement w hen u Suf
ncient hnd has been secured to start the bank
and store they will be established in this city.
A central and convenient location will be Sc
cured Everything that is used by working
man and his family will be kept in the store.
Prices will be lower than at other stores, but
there will be profit tor the stockholders, and
dividends will be paid every six months or de-
POSTED To the credit OF the stock holders In the
bank. 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 possible. After this
scheme has been tested, building aud loan asSo-
Citations will be organized, the main object be-
ing To erect homes Tor the members.
I'm time there will spring out of this move
foundries factories and machine shops Work
1ngmen Will soon become interested 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 a failure"
some Time ago this paper published rumOr
70 the effect that Andrew Carnegie intended to
turn over the Edgar Thomson Steel Works to
MS employees, making IL u cooperative estab-
lshment- The rumor was denied, but the men
We're assured that their employer intended to
DO something Tor their benefit, but it was not
Mr.. jarrett in q huge cooperative enterprise
Father Hickey's remark to the men some time
ago that there's a better time coming" is now
explained,