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Newspaper Page Text
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Here's Smalley's co-operative
store acconnt to date:
Paid for stock, $100.
1908 purchases $ 285
1909 purchases 830
1910 purchases 919
1911 purchases 1,000
TotaI,4vears '" S3,034
Ten per cent dividends
on purchases $302.40
Six per cent dividends
of stock 24.00
Smalley still has his $100 in
PRINCIPLES OF TRUE CO-OPERATION
stock. He has no doubt as to the
advisability of holding on to it.
Two hundred and twenty-seven
of Smalleys Jackson county
neighbors, also holders of a share
each in the co-operative store, al
so have drawn ten per cent on
purchases and six per cent on
stock in the past four years.'None
of them doubts the advisabilityof
holding onto co-operative stock.
And a whole lot of Smalley's
neighbors who are not members
of the company, but who have
traded at the co-operative store,
have been getting five per cent
dividends oh the stuff they have
bought there. They too, are in-
By E. M. Tousley,
Secretary Right Relationship League.
The three most essential fundamental principles of a
operative organization are:
1 Equality of vote, regardless of shares held.
(This would also preclude the orivileffe of. oroxv
2 Interest on shares to be limited.
3 A division of profits in proportion to pat
In order to aODlv these nrineinles it becomes
necessary to define other features which aYe almnsf
as -vital. These I would define as fnllnws?
1 Allowing one-half as ?reat dividends to nnn-
' members as to members, on nntrnnao-
RM.TousIey 2 Unlimited membership, without class dis
tmcbon; inviting all persons, high and low, rich and poor, to Unite
on terms of equality.
3 Division of profits among employes pro rata to the business
done by them with the society, counting salary paid the same as
patronage. , 4
When these principles are applied the co-bperation defined by
George Jacob Holyoake will be attained: . '
"The equitable division of profits with the worker, capitalist,
andjeossomer concerned in the undertaklntr.
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