Bureau of Labor Statistics, U.S. Department of Labor COOPERATION Source: Monthly Labor Review, Vol. 13, No. 2 (AUGUST, 1921), pp. 194-203 Published by: Bureau of Labor Statistics, U.S. Department of Labor Stable URL: http://www.jstor.org/stable/41828088 . Accessed: 16/05/2014 06:29 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. . Bureau of Labor Statistics, U.S. Department of Labor is collaborating with JSTOR to digitize, preserve and extend access to Monthly Labor Review. http://www.jstor.org This content downloaded from 91.229.248.149 on Fri, 16 May 2014 06:29:17 AM All use subject to JSTOR Terms and Conditions
Transcript
Bureau of Labor Statistics, U.S. Department of Labor
COOPERATIONSource: Monthly Labor Review, Vol. 13, No. 2 (AUGUST, 1921), pp. 194-203Published by: Bureau of Labor Statistics, U.S. Department of LaborStable URL: http://www.jstor.org/stable/41828088 .
Accessed: 16/05/2014 06:29
Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at .http://www.jstor.org/page/info/about/policies/terms.jsp
.JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range ofcontent in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new formsof scholarship. For more information about JSTOR, please contact [email protected].
.
Bureau of Labor Statistics, U.S. Department of Labor is collaborating with JSTOR to digitize, preserve andextend access to Monthly Labor Review.
http://www.jstor.org
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Cooperation, a Study in Constructive Economic Reform.
THE and University
readable of bulletin Illinois has
entitled recently
7 16 1 Cooperation,
published an a
interesting Study in and readable bulletin entitled 16 Cooperation, a Study in
Constructive Economic Reformé 7 1 This bulletin was pre- pared as a result of the many requests for information received by the university. While the report contains a discussion of the various forms taken by cooperative societies and an account of each of these branches of the movement in the United Kingdom, the greater part of the study is devoted to consumers' cooperation in the United States. The author regards the cooperative movement as of first importance among the constructive forces in our economic life. The development and present status of the cooperative movement should command
thoughtful consideration for several reasons: First, it manifests the practical possi- bilities of the fundamental principle upon which all such reformist schemes are established - the principle of mutual interest and cooperation; second, it reveals the persistence and determination of wage earners to improve their economic status by controlling agencies of distribution; third, it demonstrates the wisdom and sanity of peaceful, constructive, and deliberate action in the solution of the serious economic problems of modern civilization; and, fourth, it proves conclusively that workingmen can organize and operate successfully business enterprises.
In discussing the conditions out of which cooperation develops, the writer says: The existence of private profits and a high price level is not the only condition that
stimulates the development of cooperative enterprise. No less important is the fact that under modern conditions and methods of production, distribution, and credit, the amount of capital required to organize and operate a business is usually so large that it is very difficult, if not almost impossible, for the average wage earner or salaried man to engage in independent enterprise. Cooperation provides a medium through which the modest savings of these classes may consolidate to finance the production and distribution of goods and the construction of homes, and at the same time make possible the accumulation of additional capital to finance even larger scale operations. As the economies and efficiencies of large scale production and distribution are effected the cooperative enterprise becomes self-sustaining and self-perpetuating, yielding the benefits of business to those who patronize and support it.
That part of the study dealing with the consumers' movement in the United States gives a sketch of the history and growth of the movement here, and describes generally the progress in various sections of the country. A relatively large proportion of this account is devoted to describmg each of the cooperative wholesale societies. This report, like all the other studies on the movement in the United States, remarks upon the unavailability of general statistics covering the country. Some of the information given concerning the whole- sale societies is not now applicable. This, however, is a fault which
i University of Illinois. Cooperation, a study in economic reform, by Gordon S. Watkins. Bulletin No. 28, Mar. 14, 1921.
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is unavoidable in view of the continuons state of change which the movement is undergoing.
No one can study the cooperative movement in Europe, even in the light which the present brief outline throws upon that subject, without recognizing the grasp which the cooperative ideal has upon the minds of the polyglot peoples of the Old World . The recent phenomenal growth of the movement in countries whose political, social, and economic structure has been shaken to its very foundation, if indeed, the very foundation itself has not been destroyed as in Russia, is striking evidence of the practical possibility of the fundamental principles of cooperation. Of one thing we may be assured, namely, that the cooperative movement has become a permanent phase of the economic life of Europe. A second fact of no less significance is that cooperation stands supreme among the movements that seek economic reform and readjustment in a peaceful, evolutionary, and constructive manner. The immediate program of cooperation - the elimination of the middleman - has been achieved on an unexpected scale. Whether, out of the political and economic chaos of Europe, the cooperatore' ideal commonwealth, founded on mutual aid and functioning in the interest of all, will ultimately emerge, is a question which only time can answer. At present there appears to be little ground for thinking that this ultimate program of cooperation will be realized in the immediate future.
When we turn to the United States and Canada, in which conditions of life are quite similar, we find cooperation holding a relatively inconspicuous position in economic life. The achievements of the movement in these countries m recent years give some promise of greater stability and continuity, but it can not yet be said that cooper- ation nas become a very potent factor in their productive and distributive systems. It may not be that the present period of unemployment and price recession will result in an ebbing of the tide of cooperative effort, but for a long period to come cooperation will attain no such prominence in the United States and Canada as it has achieved in the Old World. There is every reason to believe, however, that the movement in these countries will experience a steady growth.
What has just been said suggests the inquiry as to the reasons why cooperation has developed so tardily and achieved so little success and permanence in North America. Generally speaking, there has been a higher degree ot individual comfort here than in Europe, which has made people less cognizant of the need for small economies and bo has retarded the expression of the associative spirit and the development of cooper- ative action in production and distribution of commodities. In new countries, as the United States and Canada, the abundance of economic resources and the prevailing opportunity for economic prosperity have developed a spirit of individualism ana competitive achievement. There has been neither the economic necessity nor the individual inclination to develop a system of cooperative enterprises. As free access to the soil and the open door to individual enterprise are closed to the masses of our people, we shall douotless have a greater measure of cooperative effort in production and distribution. In regard to the acquisition of land we are rapidly reaching that status, and the growth of corporate organization and industrial consolidations indicate a narrowing of tne field of individual enterprise, but for a long time to come America will, in all probability, continue to reward so generously individual enterprise and initiative that the cooperative movement will have difficulty in enlisting leaders and managers with business acumen and ingenuity. Careful examination of cooperative associations in America reveals the following specific reasons »for their slow development and frequent failure on this side of the Atlantic:
1. Geographic isolation of individual societies, which has prevented the develop- ment of solidarity of interest and protective measures. 2. Isolated societies have been organized frequently by people wholly ignorant of
essential principles of business organization ana inexperienced in sound policies of business administration and operation. 3. The absence of a spirit of thrift among the common people which precluded 1 the appeal of small economies in purchasing. 1
4. The polyglot or heterogeneous character of the population which has made co- operative effort difficult. National and racial prejudices have destroyed the good mil so essential to successful cooperation, consequently much of our prosperous co- operation is found among distinct racial and national groups, such as the Finns, the Russians, the Germans, and the Jews. 5. Unscrupulous managers who, lacking true loyalty to the cooperative ideal, have
either administered the stores for selfish purposes or conducted the business care- lessly and inefficiently.
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6. The excessive extension of credit on sales, a serious departure from pure Rocli- dalism, has resulted in the accumulation of bad debts and bankruptcy.
7. The unwise practice of attempting to sell commodities at cost rather than at standard or prevailing prices.
8. The strong competition of immense chain stores, department stores, and mail- order houses, capitalized at millions of dollars, and frequently able to undercut prices in order to lead customers from the smail enterprise.
9. The unrelenting opposition of private retailers and wholesalers, who bend every effort to crush the cooperative enterprises.
10. The degeneration of cooperative movements into aggressive labor organiza- tions, placing more faith in strikes and boycotts and collective bargaining than in cooperative business ventures.
11. The mobility of American wage earners, a frequent migration of the popula- tion either from one section of the country to another or to and from the mother countries, is not conducive to permanent interest in a cooperative society in a par- ticularplace.
12. Tii e lack of a unified policy and the failure to centralize administration of educational and publicity work. A beginning has now been made in this regard by the organization of the National Cooperative League of America, with head- quarters in New York.
13. The absence of adequate cooperative wholesale facilities, a difficulty which is rapidly being eliminated through the new movement for cooperative wholesale societies, already discussed in this study.
The advantages accruing to the working classes from cooperative enterprise are many. Aside from the monetary benefits derived, cooperation acquaints its sup- porters with the practical methods and policies of business administration, develops an awakened and intelligent interest in the political and economic life of the nation, promotes the spirit of mutual social service and altruism and creates a financial re- serve and an economic organization which are always beneficial to the laborers in periods of unemployment and industrial depression. For these reasons the ideal of cooperation will never be totally absent from the minds of wage-e.irning groups. Nor is it desirable that such an ideal should be absent from the minds of our citizens. In these days when forces of readjustment seem to degenerate easily into revolution- ary agencies, the wisdom of encouraging peaceful, constructive business ventures owned and operated by wage earners and salaried groups can not be ove estimated.
Progress of Cooperation Abroad.
Argentina.
ACCORDING can Union to (p.
the 170),
February, there are
1921,
associations at
Bulletin present in
of
with Argentina the
a
Pan
combined
Ameri- some
ACCORDING can Union (p. 170), there are at present in Argentina some 120 agricultural cooperative associations with a combined
membership of 30,000 and an approximate capital of 12,000,000 pesos (paper, $5,094,000, par).
Australia (New South Wales).
T^HE report of the registrar of friendly societies, etc., of New South * Wales for the year 1919 1 shows that there were 50 cooper- ative societies in that country at the close of 1919. Most of these societies sell groceries, provisions, shoes and clothing or are engaged in the manufacture of some of the necessaries of life. It is stated that " almost without exception the societies outside the metro- politan area have been established in mining districts, where, as a rule, they have proved very successful."
1 New South Wales. Legislative Assembly, 1920, 2d sess. Friendly societies, trade-unions, building societies, cooperative societies, and transactions under the workmen's compensation acts. Report of th« registrar for the year 1919. pp. 16, 17, 33-35.
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The following statement shows, for the year 1919-20, certain items of operation of these 50 societies:
Number of societies 50 Number of members 43, 381 Share capital £349, 309 Value of real estate and equipment £219, 439 Value of merchandise at end of year £377, 946 Amount of sales £2, 478, 801 Total expenses £2, 342, 031 Surplus savings £198, 813 Amount of dividend returned £160, 930
In the following table are shown comparative statistics for the years 1909-1919:
COMPARATIVE STATISTICS FOR COOPERATIVE SOCIETIES IN NEW SOUTH WALES, 1909 TO 1919.
Year- v JJ™: Share Amount of Expendi- Amount of °f Year- v
HTHE following figures, taken from the International Cooperative * Bulletin for January, 1921, show the growth of the cooperative movement in Finland from 1913 to 1919: Consumers' societies: 1913 W19
Central organizations 5 8 Registered societies of all kinds 3, 135
According to this account there are in Finland at the present time a cooperative society for e verv 1,200 inhabitants and one cooperative member for every seven inhabitants. 1 Finnish mark at par=> 19.3 cents.
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Germany. A CCORDING to the 1921 Yearbook of the Central Federation of
German Consumers' Cooperative Societies,2 the number and membership of the four types of cooperative societies affiliated with the five largest central organizations in Germany during the period 1916-1918 was as follows:
NUMBER AND MEMBERSHIP OF COOPERATIVE SOCIETIES AFFILIATED WITH THE FIVE LARGEST CENTRAL ORGANIZATIONS IN GERMANY, 1916-1918, BY TYPE OF SOCIETY.
F^ffimtiin General National Main nf «Ari«»« Federation Federation Central Federation Pnrpho^ntT of German of German Federation of German
Type of society. Year. Frviv Raiffeisen Agricul- of German Industrial Total. ntvrní» rvl Cooperar turai Co- Consumers' Coopera- ntvrní» ndoti™ tive operative Societies. tive Societies Societies. Societies. Societies.
Hungary. A DVANCE figures showing the progress of the societies affiliated ** with the Hungarian cooperative wholesale society, the "Hangya," are given in the February, 1921, issue of the International Coopera- tive Bulletin. These figures are shown in the following table: DEVELOPMENT OF COOPERATIVE SOCIETIES AFFILIATED WITH THE "HANGYA," 1914 TO 1919.
[Crown at par =20.3 cents.) Number of Number of Share Rwerve* ™ Amount of Net • Ycar- societies, members. capital. Rwerve* ™ business. Net savings. •
By the end of 1920, according to the April-May, 1921, issue of the same publication, the number of societies in affiliation with the "Hangya" had decreased to 1,777. During 1920 the business done by the " Hangya" with these societies amounted to 1,374,400,891 crowns ($279,003,381, par). During 1920, it is stated, the "Hangya" disbursed a million crowns ($203,000, par) for charitable purposes. The surplus for 1920 is to be divided as follows: 21,000,000 crowns ($4,263,000, par) to be returned in dividend to member societies; 5,000,000 crowns ($1,015,000, par) to the employees' provident fund; 3,000,000 crowns ($609,000, par) to the fund for developing agricul- tural production among small farmers; 200,000 crowns ($40,600, par) for publishing; 200,000 crowns ($40,600, par) to the pension fund of the National Hungarian Agricultural Society ; 400,000 crowns ($81,200, par) each to the faculty of economics of the University, the Hungarian Academy of Science, and the fund for combating infant mortality.
Italy. T^HE Pacific Marine Review for June, 1921, contains (p. 374) a short * account of the progress of the Cooperativa Garibaldi, the cooper- ative navigation society of Italy. According to this account the financial condition of the association on December 31, 1920, was as follows : £,>*.«
Total income 18, 609, 369. 05 Expenditure 17, 396, 577. 37 Net profit 1,213,791.68 Distribution of profits: To reeerve. 121, 379. 17
To amortization of shares 546, 206. 26- To pension fund 242,758.33 To development fund 303, 447. 92
Assets 35,631,492.36 Value of fleet 17, 069, 548. 79 Bank balance 10, 501, 408. 18
Paid-up capital 27,063, 768. 94 The Cooperativa Garibaldi has about 28,000 members and the
society sails a fleet of nine ships, six of which it owns. * Lira at par =19.3 cents.
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Japan. A CCORDING to an article in the February, 1921, issue of the In- ** ternational Labor Review of the International Labor Office (pp. 265 to 277), although the cooperative movement in Japan dates from about 1892, the first great impetus was given by the enactment in 1900 of laws regulating the constitution of cooperative societies. From that time the number of societies rapidly increased, and at present there are over 13,000 of them in 12,000 cities and towns of Japan.
Four classes of cooperative societies are found: Credit, marketing, workers' productive, and consumers' societies; many societies com- bine the functions of two or more of these classes. As the following statement shows, the credit societies are the most numerous :
Number of societies of each kind in Japan in 1917. Number. Credit societies . 3, 092 Marketing societies 248 Consumers' societies 414 Workers 1 productive societies 133 Marketing and consumers' societies 401 Marketing and productive societies 134 Consumers' and productive societies 25 Marketing, consumers' and productive societies 180 Credit and marketing societies 251 Credit and consumers' societies 2, 710 Credit and productive societies 55 Credit, marketing, and consumers' societies 2, 964 Credit, marketing, and productive societies 158 Credit, consumers' and productive societies 49 Credit, marketing, consumers', and productive societies 1, 111
Total 12, 025 The following table shows the number of members and the average
size of each of the types of society in 1916, the latest year for which detailed figures are given: NUMBER OP SOCIETIES. NUMBER OF MEMBERS, AND AVERAGE NUMBER OF
MEMBERS PER SOCIETY, BY TYPE OF SOCIETY.
_ Number of Number of number of Type _ of society. rîSSÎ2!îîS members. members per reporting. -society. Credit societies 2,863 402,533 141 Marketing societies 165 17, 167 104 Consumers' societies » 364 47, 3U 130 Productive societies 98 7,788 79 Marketing and consumers' societies 328 34,390 105 Marketing and productive societies 99 6,354 64 Consumers' ana productive societies 25 2,215 89 Marketing, consumers' and productive societies 144 14,268 99 Credit and marketing societies 328 34,941 107 Credit and consumers' societies 2,462 284,770 116 Credit and productive societies 50 4,037 45 Credit, marketing, and consumers' societies 2,572 344,738 134 Credit, marketing, and productive societies 122 18,765 154 Credit, consumers' and productive societies 50 3,871 77 Credit, marketing, consumers', and productive societies 917 134,354 147
Total 10,587 1,357,502 128
In most cases, it is stated, only persons of u independent livelihood "
are eligible for membership in the cooperative societies of Japan. As the majority of the societies are found in rural districts, it is but natural that farmers form a large percentage of the membership. The composition of the membership of the societies, by occupation, is as follows: Farmers, 82.9 per cent; small manufacturers, 3.9 per
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cent; traders, 6.7 per cent; fishermen, 1.6 per cent; foresters, 0.1 per cent; and other occupations, 4.8 per cent.
Credit societies. - It is stated that the loans granted by the credit societies amounted at the end of 1918 to 91,700,000 jen ($45,666,600, par), an average of 8,399 yen ($4,183, par) per society and 62 yen ($30.88, par) per member. Loans are usually unsecured, these unsecured loans forming 80 per cent of the total amount of loans. Interest charged is 1 or 2 per cent lower than the current local rate.
The societies receive three kinds of deposits: Current, fixed, and deferred. At the end of 1918 the deposits amounted to 133,000,000 yen ($66,234,000, par), an average of 12,200 yen ($6,076, par) per society and 94 yen ($46.81, par) per member, interest is paid at the rate of 5 or 6 per cent.
Marketing societies. - These societies handle such commodities as rice, wheat, barley, vegetables, fruits, tea, linseed oil, cocoons, raw silk, mattings, straw and straw products, cattle, textiles, hosiery, pottery and porcelain, earthenware, timber, fuel and charcoal, fish, sugar, paper, etc. The business of these societies in 1918 was esti- mated at 134,000,000 yen ($66,732,000, par), averaging 22,383 yen ($11,147, par) per society and 169 ven ($84.16, par) per member.
Consumers 1 societies. - Most of the consumers' societies are found in agricultural districts and are,' for the most part, simply buying clubs, though in some cases the society conducts a store. The price is in many cases as much as 5 per cent lower than the standard market price. As a rule cash payment is required, but where old customs
Çersist he purchases payment
made is made
during every
1918 half totaled year
85,630,000 or at the
yen end
($42,643,740, of the year,
he purchases made during 1918 totaled 85,630,000 yen ($42,643,740, par), which means an average of 10,240 yen ($5,000 par) per society and 89 yen ($44.32, par) per member. The chief articles bought through the medium of these societies are manure, agricultural imple- ments, seeds and young plants, silkworm eggs and sericultural imple- ments, all kinds of raw material for wort, tools and machinery, fishing tackel, etc., and such articles of daily necessity as rice, wheat, barley, and other cereals, salt, soy, sugar, sake, vermicelli, fish, fuel and charcoal, kerosene oil, textile fabrics, etc.
Productive societies. - These societies undertake such work as pack- ing and repacking of rice and other cereals, rereeling or packing of raw silk, drying cocoons, thread manufacture, drying and weaving, cleaning rice and other cereals, the manufacture of flour, paper, and sugar, the preparation of the products of fishing, condensed milk manufacture, etc. The business of these societies amounted to about 1,160,000 yen ($577,680, par) at the end of 1918, making an average of 584 yen ($291, par) per society and about 5 yen ($2.49, par) per member. In addition, as the laws relating to agricultural ware- housing were put into force in 1917, many cooperative societies were formed for building barns to preserve corn and cocoons for farmers, for working such products as were intrusted to them, for the packing, repacking, and transportation of these articles, for acting as sales agents or for doing a general brokerage business, and for lending funds to agricultural communities on the security of agricultural warehouse bonds. This branch of the work gives promise of a hopeful future, inasmuch as the cooperative societies m the warehousing business already numbered 564 at the end of February, 1920.
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Besides the individual societies there are also 100 federations of societies.
Cooperative societies in Japan enjoy certain privileges accorded them by the Government. These are: (1) Exemption from business, income, and registration taxes; (2) preferential treatment by the Government in the purchase by the latter of supplies for the army, much of these being bought from the cooperative societies; (3) loans at low interest from the Government through certain banks; and (4) unsecured loans procured from the Japanese mortgage bank and other real estate banks.
Portugal E1 VEN though Portugal may be said to be a backward country from
the standpoint of cooperation, the movement there is growing. This is shown by a consular report of March 8, 1921, according to which the Federation of Cooperative Societies, established in 1920 by 46 associations, had up to December 31 of that year done business amounting to 167,000 escudos ($180,444, par) . During the first quar- ter of 1921 its business amounted to 304,000 escudos ($328,472, par). The number of societies in affiliation has increased to 135 ana the individual membership is now 70,000. These societies have a com- bined capital of 2,700,000 escudos ($2,917,350, par). The societies are now said to be considering the formation of a central coopera- tive bank. Union of South Africa. A BILL 5 has been introduced into the Parliament of the Union of ** South Africa which provides for the formation and registration of "cooperative trading societies." Only those societies are entitled to come under the law which return their surplus savings to their members. The bill specifies the conditions of election of directors and their powers and lays down rules of procedure for meetings. All societies registered under the bill must make an annual report to the Government registrar. A schedule is appended, giving model rules for cooperative societies.
United Kingdom.9 THE statistics of operation of cooperative societies, members of the * Cooperative Union during 1919, are given in the People's Year- book, 1921. The following table shows the details of operation for these societies: STATISTICS OP OPERATION OF MEMBERS OF THE. COOPERATIVE UNION, 1919.
[£ at par=$4.866fi.)
Number Share Nel Salaries Class- socie- °í and loan Sales. surplus. 1 7em" and wages. 5 socie- ties members- capital. surplus. 1 ployees. and wages. 5
Total 1,467 4*182,019 98,801,231 324,781,079 21,809,563 187,535 20^962,109 » Union of South Africa. Government Gazette Extraordinary. Capetown, Apr. 6., 1921. VoL XLIV,
No. 1138. • Data are from the People's Year Book, 1921, p. 49; The Producer (Manchester, England). April, 1921, p. 150; The Economist, Apr. 23, 1921, p. 821: ana the Christian Science Monitor, May 30, 1921.
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The report of the English Cooperative Wholesale Society for the six months ending December 25, 1920, shows sales for that period amounting to £54,213,760 ($263,831,263, par) and for the year 1920 to £105,439,628 ($513,121,950, par). Deposits and with- drawals in the banking department amounted to £331,308,844 ($1,612,314,489, par) for the six-months period and to £645,772,632 ($3,142,652,514, par) for 1920.
There was a " aisposable balance" of saving amounting to £68,078 ($331,302, par). The wholesale committee recommended a dividend of 5 per cent to members and of half that rate to nonmembers. To do this, it is reported, it will be necessary to take from the reserve fund £211,112 ($1,027,377, par).
Some of the departments of the wholesale showed a loss, which is attributed in part to the fact that " trade began to decline in the early part of April, 1920, a decline which has continued with in- creasing rapidity ever since, with the result that sales have fallen off and stocks have increased. To adjust cost to price in a rapidly increasing market for goods was quite easy, but there was the great- est difficulty in adjusting price to cost in a rapidly falling market. This seems to be tne very essence and root cause of the troublous times through which we are passing, and until some adjustment is made between costs of production and selling prices our troubles are likely to become more acute as time goes on. "
Ireland.
According to the March, 1921, number of the International Cooper- ative Bulletin the number and status of each of the various types of cooperative societies in Ireland at the end of 1919 was as follows:
NUMBER, MEMBERSHIP, AND BUSINESS OF COOPERATIVE SOCIETIES IN IRE- LAND IN 1919, BY TYPE OF SOCIETY. [£ at par=$4.8665.]
Tvnft of copi fit v Number of Number of Share and Amount of societies. members, loan capital. business.
Total 1,028 135,369 1,307,018 11,158,583 * Societies.
Scotland.
According to a consular report recently received by this bureau, a new feature in cooperative organization in Scotland during the past year has been the establishment of farmers ' cooperative blacksmith shops in a number of districts. The farmers combine in the pur- chase of a shop and employ skilled blacksmiths to do the work. In this way they effect a saving of from 7s. to 8s. ($1.70 to $1.94, par) for every horse shod and get their jobbing work done at corre- spondingly low rates. The employees receive the union scale of wages ana the business is run at a profit.
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