Consumers Cooperative Societies in New York State

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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. Butthe matter was put off and put off. One day the manager disappeared andwith him two thousand dollars belonging to the cooperative. After a fewmonths the manager was found, but the money was gone. The loss of thetotal sum was more than the cooperative could stand, however, and afterstruggling along for a few months
..., it closed its doors.
A clever organizer two years ago started organizing a cooperative storein New York. On the society's letter heads he had printed a picture ofthe world and across the world the word "BIG. " He was going to start awhole chain of stores. In three months the first and only store was putinto the hands of an assignee and the man left the city. An audit of hisaccounts showed that he had collected $3, 600. One-fourth of this hadgone for promotion expenses, $2, 350 for rental, fixtures, etc.


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