Year: 1870

lCoNCLUDED FROM YESTERDAYS PAPER.
FIRST INDUSTRIAL PARTNERSHIP.


Mr.. Henry Briggs, the head of the firm,
was successful coal master, and owned
large pits in the Yorkshire district. He
was resolute, upright Yorkshireman,
kind and generous to all about him, but
above all things determined and unflinch-
ing whenever he believed himself in the
| right. Such a man was sure to be in de-
mand as leader, and accordingly Henry
Briggs had been for years the Chairman Of
the Masters Association of Coal Owners
in his own district This Association had
been uniformly successful in its contests
with the coal workers, and so bitter was
the feeling among these that 1.-The coal
owners are devils and Briggs is the chief
Of the devils had passed into proverb.
In 1916 and the beginning of 1860 things
had come to such pass that the Methwood
and other collieries were standing still
often for weeks together, and when in
work had to be protected by large body
OF police. Mr. Briggs at last got thorough
ly sick OF living in constant state of war
with his poorer neighbors. The collieries
were returning scarcely 3 per cent on capi-
tai He proposed to his sons to sell the
mines, and invest their money in some
other way which would bring them at least
rs large return, and peace. Fortunately
as believe, for England, his sons had
been attracted by the theories of co-opera-
tors, and proposed to their father to
try what effect giving the work-people a
share in profits under the new act would
have on the business. Things could scarce
| ly be worse, and persons who had been
studying and preaching on the subject for
years declared that they would be better.
Mr.. Briggs consented, and the first indus
trial partnership was accordingly formed
at the Wildwood collieries. The manner
ofits formation was as follows: The stock,
plant, and other property were valued,
| nothing being set down for the good viii
to something over ESQ, 1000. This sum was
| place them within reach of any prudent
workman. The first charge on all the
earnings of the collieries, after payment
of the current rate of wages of the district
| to the work-people, was a payment of 10
per cent on the capital, that being the rate
which, according to the best authorities,
ought to bear. All surplus earnings, if





ly, half being paid as additional interest
on capital, the other half being divided
among the work-people as q bonus, in
proportion to the amount earned by each of
them during the year. The articles of this
Industrial Society were duly registered.
| The Messrs. Briggs kept the large part OF
the shares in their own hands, and the rest
were sold to friends of the movement,
and to the work people, arrangements be-
ing made by means of share-clubs to en-
able the latter to pay up their shares by
small weekly installments.


| JOY OVER THE FIRST PROFITS.


So great was the suspicion among the
men that, ,althoughthe matter was thorough
ly talked over with them and explained,
scarcely any of them would take share
Messrs. Briggs, for the sake of convenience
made it a condition of sharing in what
ever bonus might be earned, that each
workman should take out penny book


in which the amount earned by him (and
upon which therefore, bonus would be
payable) should he entered by the proper
clerk at the end of each week. Only
about one-tenth of the 800 work-people
employed took the trouble to take out this
book However, the leaders of the men
were determined to give the scheme fair
trial, and accordingly, though there were
many threatenings, no strike took place
during the first year. At the end of that
time it was found that, after putting aside
a reserve fund of several thousand pounds
something more than l3 per cent had been
made on the whole capital, and there was
accordingly sum of more than Il 500 to
be divided among the holders of books as
a bonus on their earnings. Thus in the
first year the profits OF the mines had more
than doubled. | went down to the meet
ing in the great room ut the collieries
where this announcement was made of the
result of the first years working, and
shall not easily forget the scene at the great
tea-party-the hearty speeches predicting
the good time coming the importance and
delight Of hard-handed fellows carrying
in their pockets more coin than they had
ever seen before at one time the blank
looks and good resolutions of those who
had neglected to take out books. They all
took out books next morning. and came
away with a very firm faith in the future
of the first industrial partnership Of Briggs
& Co., limited That confidence was well
grounded. From that day to this the sue
cess has gone on increasing. A large pro-
portion of the work-people now own
shares. One of their number has been
elected on the Board of Directors. The
dividends have never fallen, and have in
some years advanced largely. The econo-
my in material, such as timber, oil, and
rags, has been sufficient of itself to pay
a dividend on the whole capital of q be-
leve) more than one per cent. Above all
while there have been many disputes and
stoppage of works in the district, the
Methwood Colleries have never lost day,
and the feeling between the Messrs Briggs
and their work people is as cordial as the
strongest philanthropist could desire.


WHAT HAS BEEN LEARNED BY EXPERIENCE


Now do not mean to say that there are
many other industrial partnerships so sue,
cesstul as Messrs, Briggs & Co., nor do
mean to deny that the working of coal
mines is scarcely fair test of the proba.
BILE success of the new system in trades
where much less labor is employed in pro.
duction. One or two industrial partner
ships have broken down in the bad years
which followed 1876 in Enotand Rut or