Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1910-11-04
GRANGE STORE SOLD
Directors Have Closed Trade
With G. 0. Abbott & Son
Business Has only About Paid Expenses
Past Few Years-Has Been on Coop
eratlve Basis Since 1877.

eratiVe Basis Since 1877
After an existence of 80 years as a CO.
operative store the Grange store on lil-
hot street will pass next week into the
hands Of George .. Abbott Il Son, pro
prietor7s Of the meat market I'm the Elmer
son building on the same street Inc
change comes as the result of an offer
for the business at time when the store
was feeling the need of more working
capital the stockholders voting to dis
nose of the business rather than to issue
new stock for carrying 1t on. Abbott u
Son made an offer two weeks or more
ago for the store, which does not include
the real estate and a meeting of the
stockholders was called for Friday night
TO discuss the situation and take definite
action.
The notices issued to the stockholders,
of whom there were several hundred,
contained these articles of business: N)
To see if the stockholders would vote 70
raise additional capital by a new issue OF
stock or otherwise. for carrying on the
business CIV In case the stockholders
did not vote to raise additional capital, To
see IL they would vote to sell the business
and to consider propositions for its sale
go To transact and other business that
might come up.
That the stockholders wore interested
in the future of the store was shown by
the large attendance at the meeting. 1t
was voted not to issue new stock or to
take any other means of raising money
to carry on the business. At one time
the stock cost s. a share and at last re-
ports It was quoted at SO with no takers
Those present did not favor the idea of
uniting a heavier load upon the stock
holders For the past three years no
dividend has been given on trade ana
the business has only about paid expenses
the past few years.
The stockholders at the meeting were
told that good offer from Abbott &
Son had been received by the directors for
the business. stock and goodwill and it
was thought that it would be well to ac-
cent It, 1t was not expected that the
stockholders would receive face value for
their holdings. but the offer was consd-
cred generous. 1t was voted that the
directors, o. T. Ware, w. T.. Goddard, II.
] Joy + II. Akey and G. S. Hopkins,
be instructed to receive bids and close out
the business for the stockholders.
The store Is virtually under the new
management now although it will take
about a week to close the sale, as there
are matters of law that will have to he
gone through. The price paid for the
business has not been made public. AT
present eight clerks are employed besides
Miss Grace +. Morse. bookkeepcr, and
Manager A. l.. Harris. 1t has not been
decided definitely whether the present
employees will remain with the new man.
agement, or how many will be retained
In 1877 few men banded together IN
BrattlebOrO Just as they were doing In
all parts of the country, to do their bay
ing on cooperative basis. The move
ment had spread from coast to coast anc
a society known as the Sovereigns OF
Industry was formed here with that oh
ject in view. BY buying together good,
were bought cheaper and money was
81, l..1f1.l frNeV .nNt
occupied by A. O. Alvord on Elm street
was hired and a store was opened The
business prospered and within the mex
few years the store was moved to the
building now occupied by the five anC
ten cent store or Elliot street. The bust
ness soon outgrew these quarters and was
moved across the street to the Leonard
building and the first floor and two base
ments were hired. The Grange and thu
Sovereigns of Industry consolidated anC
the business was done under the name o
the Farmers and Mechanics Exchange
The store at that time was under tn,
management of F. w Harlow. A yearl,
business of about $4,000 was done and ;
dividend on trade of five and six per cen
was paid 1t was decided in 1894 to cree
building and in July, 1895. the presen
Grange building was finished and tn
store was removed to its new quarters
The business did not prosper as well ii
the new Dulldlng ana the real estate wa
sold to the Grange Block association an,
the business was reOrganiZed in March
1898 Mr.. Harlow remained as manage
until Feb C, 1899. when a. L. Harris, VIII
has since been manager, took charge. TIL
stockholders probably will receive tnei
share of the proceeds of the sale With,
a short time, and when the business goe
into the hands Of the prospective owners
the transfer will mark the end of 80 year
of cooperative buying in BrattlebOro
Between 1878 and 1894 the store not onl
paid regular dividends on its stock bu
returned to members over $37, 900 as div
idends on goods which they bought