Consumers' Cooperative Societies in New York State
Consumers' Cooperative Societies in New York State
Consumers' League of New York the
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" From thecooperative standpoint the most dangerous thing was that half thedirectors had become disgruntled and, though remaining on the Board, refused to attend meetings. A quorum could not be obtained and formonths the president and treasurer had run the business withoutreference to directors or stockholders. The cooperative society failedand every cent of the four thousand dollars of the cooperators was lost. Another cooperative store, this time in the Bronx, was taken over by themanager wit...hin one year. Upon inquiry its directors proudly exhibitedits books. It was a beautiful set costing, they said, nearlyseventy-five dollars. The store had started in November. For Novemberand the first three days of December everything was kept in good shape. But during the entire next year not an entry had been made. Thedirectors had the books, but the manager had the store. The stockholderslost all their capital. A thriving business was being done by still another cooperative store inNew York. At the outset the directors had voted to bond the manager.
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