The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-09-05


They went 10 the banker.
1--WE want 20 borrow money enough
10 buy the old shlngle mill on the
edge OF the bay" they told the bank
er.
NOT ONE GENT
OF SECURITY
Have you any security" they
were asked-
mot q cent Some Of us owe the
grocer and the butcher. But. we can
mako Il 20. and We can all pull out
Of the hole"
The banker thought n over and
to,d them to have their grccsrs and
butchers sign the notes. and he'd
furnish the money to buy the mill.
Was the banker Grassy, Not BY an
extremely long shot
The Olympia shinsle Co. was or.
aanised. There were ~ shares Of
stock for which each man paid $3.50
m borrowed money. Each man owns
one shArA No man can own more
than ono share. Thsy elected a
board Of srusssea and the board
choss. from the ranks OF the stock.
holders. uanAssr and fcremen.
YeuBr OWN STOCK
10 HOLD JOB
That was six ysars ago. The com
pany made money from the start II
has never shut down though the
plant burned out . couple years ago
and had 20 be rebuilt. Tho plant Il
running two shifts now--hirfng men
for the temporary jobs One stock.
holder sold out . few days ago and
he received 81. 500 for the share OF
stock that cost him $3.50.
No one can own stock without
working In the mill The usual 90
ing wage u paid IN the mill. and
the profits are divided equally.
why did the banker like the IDEA,
Not because the men we're Of
grand reputation or anything like
that-though they were all good.
steady fellows and hard workers.
Not because he liked the idea Of CO.
operative industry - because he
dfdnr.
BANKER PLEASED
WITH SCHEME
Ihe banker thought II . good idea
becauss Il was safe. He could lend
money to this shingie company with
absolute safety. For. each Of the
workmsn signed Q waiver Of labor
Ssn rights when the loan was made.
That gave the hank plenty Of secur.
~. The Stockholders. Who also
wsre the working force OF the
shingle MIN. guaranteed when they
borrowed money 70 buy logs. that
they would not file labor liens II
they didn't get their weekly wages.
Ihs hank held the shingies a. secur.
~ for the loan. safer 1t can't be
bat!
EffIeincy was 100 per cent In tins
co-Operatjvs min. because the work,
en- wsre al stockholders and had
equal voice and equal vote. When
the yard foreman saved = dollar. he
knew that part Of II was his own
When the knee boltcr did good work.
he knew he was putting cash into his
own pocket. When . man stuffed
OF loafed or pouted, the others
spotted him and fired him because
he vas costing them all money.
That was the beginning. A year
and = half ago 20 men got together
and bought out the State Capital
Single company. And. they made
Il %. too. II Is still running. and
making good.
PLAN SPREADS
AMONG WORKERS
Then came the Olympia Fir Lum-
Der company. II took - men 10
handle this rlant--a sawmiIl with a
capacity Of $1,000 feet a day. They
took over a mill that had been shut
down. and have kept II running
This milrs first Job was the SAVING
Of lumber for tho Olympia Veneer
company. aAo Q cooperative in
which i2s men own the stock. The
veneer company went a step farther
than the others. 1t decided to make
pay for ali Jobs in the plant equal
II 10 making good. too.
Tho Olympia Box a Package com.
pany was next. a cooperative with
80 workmen owning all the stock.
It's success, too.
Olympia now has a cooperative
ssore ana cooperative daily
newspaper--the Washington Stand,
ard.
The co-operatives hit Tacoma a
few weeks ago.
SIXTEEN MEN
BUY MILL
The Tacoma Electric Min Co. form.
erly the old Delta Single Co. was
bought up by 10 men II started run.
ming August "a. 1t has business
lined up ahead and is making the
sawdust ny. The is men own all the
shock and share equally In runpins
the company.
Thursday morning the Tacoma Fir
Lumber Co, with 80 men owning n.
and running II, started Operations.
These men bought up the old p. q q,
Lumber Co. plant. This Ia q mill
with capacity Of 10000 feet Of ium.
beg . day.
But, this isn't Just story Of how
wortmen got an idea and went into
business for themselves on a co.
operative basis. It's the story Of a
man.
PREACHER REAL
ORIGINATOR
The sman is Oscar McGill. former
logging camp preacher and real ideal.
lat. He started the first Olympia co.
operative shingie mill. He has been
helping start the rest. He organized