| Show SUMMARY they have an industrial S school c hool bool near san francisco to which vagrant boys are sent it is established and conducted on the principle that it is cheaper to prevent crime than to punish it after its commission it is better to train a child by reformation than to put him in a dark dungeon in punishment for an offense against the laws of society the practice has prevailed that such little waifs waife as were found floating around large cities without any parents or guardians to govern protect or gulde guide them should or any wrongs they might commit be thrust into dungeons and cells ells there to associate with and be contaminated by the examples and teachings of vile and degraded criminals reformatory schools have hoon been established in many places of late years and the effects upon the children sent to them have been in most instances very satisfactory the tenth anniversary of the industrial of san francisco was celebrated a few since sinco and the i on s sion slon ion lon were much grai grat gratified led agrall they thoy saw and heard the exercises of the boys were interesting inte interesting and gave evidence of the care which h had haa a at been taken with them the guests were reminded that the school was not a place of punishment or aprison a prison but a school of virtue and a somewhere home where they received ived instruction in both books and useful employments to enable them in after life to live ag as creditable creditable members of the community the effort was to send them out with good characters one of the speakers in stating his hia wishes res respecting pectin them said that he did not want them to think chink of becoming com ing legislators and cautioned them to bea beware re of aspiring to the presidential chair orto or to seats in the national congress from his knowledge of legislators on that coast he would much prefer that they should aspire to be honest laboring men very good advice which it is to be hoped the boys will follow tho cho establishment of such schools in communities situated as live in san francisco and aryl other large cities are cannot fail if properly conducted to produce good results I 1 mans rans inclination to do evil is in most instances the result of habits which grow out of defective and improper education and training when men are rightly trained they will be unable to perceive a single advantage which they can gain by doing wrong if society were properly organized there would be nothing that men could legitimately desire which they could not obtain by doing right and of course under such circumstances there would be no temptation to do wrong but mankind ate far from this condition at present and until they arrivo arrive there the organization of industrial and reformatory schools is an excellent movement and worthy of encouragement and support the money spent in that direction is saved by lessening the cost of polled courts of ana and prisons aa tro FRO PROFESSOR PEsson CN berkley has been publishing a record of the growth of operation cooperation co in england which gives i many interesting details the san francisco berald herald has a leading beadi in article arti ae I 1 on anthe the surjeet subject from which wo we batler gather much information the professor asserts that the first operative cooperative co efforts made in england originated with those who had become impressed with a belief in the efficacy of the social views propounded by robert owen the socialist owens scheme included the founding of villages c 9 whose production distribution and education edu edn cation catlon were to be carried on in proportion to the wants of the community but his disciples were compelled to abail abandon his plan however beautiful it might be in theory and many were fascinated by it they found it impracticable in fact there has never been any dearth of beautiful and soul inspiring theories in the world aien nien men alen of far reaching minds seeing mans capabilities haye have had glorious visions of a con condition cution of society winch which they found their reach to realize with the means at their disposal find ing 0 owens schemes beyond their means to accomplish his bisci disciples les ies determined upon the project of estai estat establishing establishing lishing cooperative operative co stores in which the working men should be the tho th e subscribers of the capital and the customers and the recipients of the profits which might accrue many stores were ef started upon this principle plo pio in various parts of england but most of them were soon closed but it wag was not coo cooperation operation co o aeration pe ration that was to blame for this result in geraly every instance the failure was traceable to the mismanagement in efficiency or dishonesty on til the e part of the agents A few of these stores went on profitably many years and three of them are said to bedet in in existence I 1 yet these latter have found it to their advantage to recently alter their method of doing business and adopt that established by the younger and more vigorous stores now in operation almost every where in england in 1844 twenty eight men began the present antic gigantic operative cooperative co movement in rocha rochdale rockdale Roc hdale on a capital capit d of twenty eight pounds The association is now salato said sald to number persons chiefly heads of families and the business has risen to about per annum employing all the metho dazed labor and management that belong to a bu business sines including every variety of article needed for dally daily colsum consumption 11 the success of operation cooperation co atrock at roch dale is a fair illustration of its beneficial effects elsewhere twenty four years haver havor altered remarkably the moral aspect of society 0 in those districts then the great mass of the working population was in the hands of the small retail dealer the stuff shop as it was called supplied food of an inferior kind on credit the aubil publican a e a gave c credit and the pack peddler traveled 1 ed neve weve from m house to house and also aiso also aiso sold on credit his poor but high priced goods and I 1 men and women were induced to make those imprudent purchases by them so often indulged in when payment is deferred adultery eions were practiced light weights and short measures were also wrongs wro a ap which were in existence in this condition of things the the tho principle of operation cooperation co was introduced it had hail difficult difficulties es to contend with it was in england as it has been and probably still asin ln some instances in utah the system was ridiculed it was predicted that it would fail but before two years passed away its success was pronounced now co opera opra tive stores mills and factories are in a flourishing condition in over six hundred com eom communities muni ties in en england gland giand A whole wholesale s a I 1 e or central operative cooperative co agency has bee been established ed in london which has so far outgrown own anticipation that eat a new warehouse is being erected this year which will sixty thousand dollars A condensed illustration of the operation and bene benefits niti fiti of the system s is given in the following 1 12 paragraph presuming that a store consists of members each of whish has subscribed xa 1 to the share capital for the purpose of carrying on the tho business and each of whom spends los ios a week at ake the store the capital will be loo and the tho amount of business 50 per week or 2600 a year it is fair to presume also that as the custom at a co operative store seldom fluctuates and as all wholesale purchases are made perfect knowledge of the extent of the r retail demand there is little depreciation of stock and little or no waste in in cost of attendance under these circumstances though the very best quality of goods be sold at a moderate price no adulteration is likely to bo resorted to of even the most harmless kind and the truest measure ana and weight given fifteen per cent may be almost counted on as an average profit after after aften paying cost of distribution As a rule in in the stores the whole of this would noi nol not be divided first 5 per cent would be bd carried to the credit of capital as interest this would leave being tho the full amount after this 21 per cent of profits or about eio elo 10 would be deducted against depreciation of stock whilst tho the rest would bo be divided amongst the shareholders in proportion to amount of money laid out at the tho store dividends on consumption or bonuses as they are called vary v ary very ve fy much from ad to as gd in the pound in the tho case which wo we hero haro sup suppose ose we take the subscription of each ei to eo bo equal and the spending of each shareholder also equal the tho benefit of each would therefore be Is for interest on the tho invested as capital and as ad in the 26 spent by each in custom thus the tho investment and custom at the endom end of the year would bring to each 26 half crowns or n 3 as makin making altogether xa 3 Gs as interest on money any ang and dividend on consumption tun THE anniversary meeting of the american equal rights association was held a few days since at new york the audience was large largo and mostly composed of ladies though a number of colored people were present speeches were made by prominent womans comans right men and women the correspondent of the chicago tribune ne herself a lady who was present at the tho convention notices that at those public meetings of women men who are on the platform appear at a great disadvantage they are merely the echoes of the women who speak the correspondent dent also aiso noticed the kind of women who responded most moa liberally to the demands mado made upon them for funds to carry on the cause and the paper published in its interest they were plain thinking women from connecticut and new hew Hampshire or rhode rhodo island who were honestly convinced the they were slaves but the correspondent had ha been present at a reception a few days previous at the ivonen s bureau at which all the female celebrities who advocate womans comans rights were present and she states that there was not a single woman present who looked like a slave if any were slaves then their fetters were gorgeous for the majority wore point lace laer and diamon da or very veny brilliant substitutes ir ir them THE chicago tribune has a leading article in it its last saturdays issue on watering railroad stocks instates it states that there has been an almost regular increase in the nominal stock of the various railways of the country by a process known to the initiated as watering 11 that is stock dividends issued without without any actual capital to represent them the tribune gives lists which it takes from the financial chronicle and the N Y evening post that show the capital stock of twenty eight railroad companies a little less than four years ago and aad now by this list it is seen that of the present of nominal capital stock of these twenty eight railroads or nine twentieths have been created in stock dividends dividend or as it is called water stock tn in this way the actual capital of these companies is diluted or watered for su supposing osing that in july 1865 the he stock tap then en issued represented acqua actual capital the issuing of stock dividends to the extent of between that time and may 1869 without an increase of capital reduces the value of the actual capital that is of is stock dividends to the amount of in some cases several corporations each representing a certain amount of nominal stock have been consolidated in others which are very few however companies have increased the length of their roads but in no case where consolidation soli dation has occurred has the increase of stock been confined to the amount of the consolidated capital or where the road has been extended does the extension bear any proportion to the issue of stock dividends the most substantial plea the tribune finds urged for watering stock is that railroad property should yield seven per cent interest on the real value of its property and that when that property for any cause increases in value the whole value should be represented in shares the stockholders drawing their incomes from the whole sum of the value of the property but the tribune argues this if it has andreal any real merit as a principle of action necessarily includes the converse that when trie the property of a railroad declines in value the capital stock of the company should be reduced proportionately the comments of the tribune upon these nefarious transactions we give in its own language the adoption of this policy of watering the stock of railroads results in another i which is most oppressive to the producers of the country and must ultimately prove pro ve fatal to the railroads themselves to pay p ay the dividends on these millions of watered stock the whole energies of the companies must be directed to swelling the present earnings the of water stock issued since 1865 demands an annual dividend of 12 0 from the net earnings of these roads to meet this increased demand upon its profits the road has to plunder the public by its rates wherever there is no competition and to take freights at it less than the cost of running at other eints points driven under the pressure for dividends on water stock it has no money with which to renew its iron its cars or its locomotives but is wearing these all out and in point of fact reducing the value 0 its rl property it can lay no new track the most it can do is to patch its ibi already over tasked rails replace its broken wheels and send its locomotives to the shops weekly for repairs there is not one of the bruni trunk railways leading to the east which might not by a reduction of its inq capital capiti stock to the real amount of cash invested nav its eight per cent e nus nas in cash cash I 1 and by investing the remainder r of its earnings in laying an additional rall rail double the actual value of the property anh and and thereby treble trebie the tho net earnings of tho the company at this moment a double track for freight from chicago to new york with the p roper proper complement of cars and engines would have the transportation of the great bulk of the products of the tho northwest north west but nothing of this kind is contemplated no thing of this kind is desired on the contrary ever every py energy is put forth to swell the immediate earnings so that the stock may be watered without limit and cash dividends realized on the water it is a significant fact that the bonds of these railway companies are rarely reduced and when paid paia are generally replaced bya new issue the tho bonded debt of the aref road is over 22 instead of keeping the roads in condition in laying aati additional tracks and increasing its capacity for fo r business in increasing the rolling stock and generally adding to the real value of the property the roads are sh skinned enned to pay dividends on water stock this policy may anaw answer or for a time just as a bankrupt may disguise his condition by loans at a rate of interest that is consuming rapidly his borrowed means but the break must come it is ginev inevitable and the unfortunate victims who invest their savings in these unsubstantial railroad stocks will wirl discover in their ruin the shameless shamale as 00 depravity 1 y which has instigated alq an car carrias rids on this profligate business |
