retain the management of business, each share carrying one vote; also, that facilities would be afforded to the workpeople for the gradual purchase of shares by weekly instalments.
Thus the scheme was inaugurated. When first proposed to the workmen they received it with enthusiasm, and everything seemed likely to proceed as well as could he wished. Soon, however, doubts began to arise in their minds, promoted in the first instance by the paid agents and lecturers of the miners' trades unions who began to fear that if the co-operative company succeeded, strikes would cease, and their employment come to an end. Thus a large portion of the workmen put no faith in the good intentions of the founders of the company. Then were, however, notable exceptions to this rule. From the very first, a small band of steady and thoughtful men (some of whom had been bitter opponents of their employers in previous disputes rallied round them. Some of them paid up for shares at once, whilst others formed share-clubs, whereby each member, by payment of 1s. 3d. per week, could eventually become a shareholder.
In order to point out, in greater detail, the various methods whereby the miners might assist to insure the profitable working of the undertaking in which they were invited to co-operate, the managing partner of the firm issued an address to the workmen during the month of May, 1865, from which the following is extracted:
TO THE WORKMEN EMPLOYED AT WHITWOOD AND METHLEY JUNCTION COLLIERIES.
It must be well known to all of you that the owners of the above-named colleries have recently come to the important decision of transferring them to a Limited Liability Company on 1st of July next. This step is one which is important to you who are employed at the collieries, as well as to us who have provided the capital necessary to bring them into operation, because the principal object we have had in taking this step has been the enabling of you all to obtain a direct interest in the prosperity of the undertaking in which we as capitalists and you as workmen are engaged.
