The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1886-07-09
GIGANTIC CO.OPERATiON
The Plan Of John jarrett and Andrew
Carnegie for Beneflting WOrkmen.

The Plan Of John jarrett and Andrew
Carnegie for Benefiting workmen.
John Jarrett, ex-presidcnt of the
Amalgamatcd Association. and Andrew
Carnegie, the iron and steel manufac-
turer, are interested in big scheme for
the benefit of the working classes Of this
country. The scheme originated with
Mr.. Jarrett, ard he has been assured of
the assistance of Mr.. Carnegie. 1t is
not likely, however, that any thing will
be done until fall. The project is CO.
operation on an unusually large scale.
1t is proposed to establish distribution.
productive and credit systems exclu-
sively in the interest of members of Or
ganized labor. When the plans are
completed, which will be in the fall, a
large general store and a wOrkingman's
savings bank will be established in this
city.
Mr.. Jarrett has been at work on the
scheme for several months. Letters cx-
planning its objects were written to diff
ferent assemblies of the Knights of La
Dor 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:
mo one but workingmen Or men,
bers of labor organizations will be per-
mitted to take stock. aud no man can
hold more than two hundred dollars
worth. If man desires 10 90 into the
company and has not the amount in
money required, he can deposit por-
ton of his earnings in the bank. On
these deposits he will receive eight per
cent. interest. Bankers say that money
is going a begging at five per cent, and
can not understand how they can af-
ford to pay more than that amount.
OF course, Mr.. Jarrett and MIR. Car
ncgie would not 60 into thing of this
kind blindly, and believe they will be
able to keep their part of the agree
ment. When sufficient fund has been
SecuTeO 10 StdTt inc UdIhh anu StOTc tncy
will be established in this city. A cen
trail ard convenient location will be Sc
cured. Every thing 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
profit for the stockholders, and divi-
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 as 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 out of the
movement cooperative rolling-mills,
steel mills, foundries. factories and ma
chine shops. Workingmen will soon
become interestedin the movement. and
instead of spending money in saloons
for pleasure, will deposit all they can
spare in the bank. With men like An
drew Carnegie and John Jarret behind
the scheme. there is hardly any posi-
bility of a failure.-Pitts6uryh Dispatch.