The Co-operative Principle.

Pelorus Guardian and Miners' Advocate., Volume 1, Issue 57, 14 October 1890, Page 3

The Co-operative Principle.

The Eev. J. Simmonds, of Ponsonby, has sent to the Auckland Herald the following, as showing what may be 'done on the co-operative principle, though he is not at liberty to mention the name of the firm ;—“ A certain firm in Auckland has lately decided on the following plan without any pressure having been brought to bear by the workmen in their employment. The workmen are. to be paid wages as at present; the managers, who in this case are the capitalists, are to be paid such salaries as they could easily earn in similar employment if they were not carrying on business ior themselves; six per cent, is to be allowed on capital; all excess of profit over these charges is to be divided between capital invested in the business and the managers and and workmen who carry it on. The members of the firm have always treated their workpeople liberally, although during the last two or three years the business has not paid interest, on capital; and, now that, they are making this new arrangement they are going so far as to ask their men to appoint a committee to confer with themselves ,as to details in the distribution of profits.”