Page:Adventures in Thrift (1916).djvu/141

 made in Minnesota. To secure it they had to order in large quantities, and they were amazed at the large saving eventually made. They had been banded together for the avowed purpose of increasing their efficiency, protecting and promoting common interests, cultivating harmony and good fellowship, and maintaining high ideals in connection with public service. Their success with purchasing butter in quantities showed them the practical possibilities of the phrase 'promoting common interests.' Gradually the social and civic betterment projects were abandoned, and the club devoted itself to buying household supplies.

"After a year the members decided to incorporate, with a capitalization of three thousand dollars. The shares are the smallest of any cooperative enterprise I have heard about. They are of two kinds. There are five hundred shares of common or voting stock, at one dollar each. No member may hold more than one share of common stock, and every member must take one. Preferred stock costs five dollars a share, and each member is expected to hold at least one share. By a very helpful arrange-