Rensselaer Union, Volume 8, Number 7, Rensselaer, Jasper County, 4 November 1875 — How One Co-operative Association Is Managed. [ARTICLE]

How One Co-operative Association Is Managed.

There is an association of young persons at Springfield, Vt., known, as the Im dustrial Works, that furnishes all its members with constant work at fair wages, and a pleasant home at a small cost, which is meeting with a success so marked as to attract the attention of all thinking people. The members of this association are all young people who are willing to rid themselves of all bad habits, work steadily, dress economically and save a portion of their wages; no others are taken. All the men who join are required to furnish a small amount of capital, and to save one-fourth of their wages, which must be invested in the capital stock of the association. Women are not required to furnish any capital in the outset, but must save one-sixth of their wages and invest it in the business. Those who do not comply with the requirements of the asso ciation are expelled, and those who wish to leave can do so at any time, andean withdraw their capital by giving six months’ notice. The wages paid to each member is fixed by a board of directors and is proportioned to their skill and ability. They have a large dwelling or home where the members live and enjoy many privileges and comforts not usually found in families or boarding-houses. All pay a moderate price for their board from their wages. They have two new factoiy buildings, and a good water privilege, and considerable machinery, and are engaged in the manufacture of toy and house-furnishing goods for which they find a ready sale. They commenced business a year ago with five hands, and are now working forty-five, their sales for last month were over $3,000; their pay-roll for the month was over $1,200, and the saving of wages which was added to the capital of the company was more than S3OO. The average amount saved from the wages of each man in a year is $l5O, and of each woman SSO. Manj 7 of the members have saved much more than this during the year, but this is all that is required of them. The aggregate amount saved by the present company in a year will be nearly $5,000. — Woodstock (Vt.) Standard.