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 Teresa Moore patted her friend's hand in a comforting way.

"I'll try. The cooperative society secures as managers for its stores men who know how to buy for markets which have earned from fifteen to twenty-five per cent. net on the capital invested. Now, if you own shares in that association, you get your share of the profits. Do you see that?"

Mrs. Larry nodded.

"You also buy your groceries at the lowest possible price for desirable goods. Instead of buying 'seconds' in groceries, and inferior meats and fresh vegetables, fruits, etc., at slightly cut rates, you pay a fair market price for the best the market affords, and at some future date you get part of what you have paid out, in the form of discounts and dividends. Is that clear?"

"Perfectly," said Mrs. Larry. "Then it must also follow that if a store is not properly run, there will be no discount and no dividend."

"That is quite true," said Mrs. Moore; "but the history of cooperative societies in America