Page:American Journal of Sociology Volume 4.djvu/822

802 after the manner of the English wholesale cooperative societies, and the remainder is declared as a dividend to capital, the participating depositors, and that portion of the wage-earners which is not included in the distribution of profits in any of the special departments. The founders of the house still retain a large share in the control of the business.

Of still greater reputation is the Maison Boucicaut, the Bon Marché of Paris, now become Plassard, Morin, Fillot et Cie, a true coöperative company, after a substantial growth of twenty-five years. M. Boucicaut introduced a system of profit-sharing in 1876, in the form of a provident fund. After his death Madame Boucicaut took up his work and his plans. In 1880 twenty-six heads of departments and other superior employés were admitted into the firm as sleeping partners. Several of these associates were simply representatives of groups of employés, who were thus enabled to become associated in the business. In this manner 7,500,000 francs, three-eighths of the total capital, were placed in the hands of employés, in shares of 50,000 francs. Madame Boucicaut continued to cede portions of her stock in shares of similar amounts as fast as employés desired to obtain them. Provident funds, retiring funds, percentage on sales, etc., are additional advantages, or, rather, are features of the profit-sharing system, and are specially advantageous to those not associated with the stockholders. However, a five-year service is the only qualification required of stockholders. In 1896 a "Civil Society" was constituted, which was to come into possession of the capital stock held by the head of the firm upon her death. This event occurred the following year. At the same time was founded the retiring fund, out of the private fortune of the benefactress. This fund secures pensions to those employés who have no interest in the business of the house. The Civil Society, when it took charge as a limited stock company, consisted of 373 members; and it remains sole proprietor of the capital stock under the name of Plassard, Morin, Fillot et Cie, these being the three directors selected by Madame Boucicaut previous to her death. In addition to the 373 stockholders, 81 employés have an interest in the total business of the house, and 158 have