Page:The Economic Journal Volume 1.djvu/321

 INCREASE IN REMUNERATION UNDER PROFIT-SHARING gusrs. ntee of good faith. In regard, therefore, to the workmen employed by the small minority among these ' distributive' socie- ties, which give s shaxe in profits to their employees, it would scarcely be accurate to state that these operatives invariably receive the whole of their bonus of, say, five, ten, or twelve per cent. sss clear addition to their normal remuneration. The English Wholesale Society does not now prsctise Profit- sharing. The Scottish Wholesale has long given s share in its profits to its employees (1,578 in number st the end of 1890). Turning to the statement contained in the Wholesale Societies' ,4nnual for 1891 (p. 126) we find that the ratio of bonus to wages from the quarter ending November 19, 1870, to the quarter end- ing December 25, 1886 (both inclusive) averaged roughly  3'8 per cent. From the same source, coupled with the Returns of the Co-operative Union for 1890, we gather that in the four years 1887-1890 the average ratio of bonus to wages has been in the 'distributive' departments '2'7, and in the 'productive' departments 3'1 per cent. Coming to Class I), I believe that one only of the ' Supply' associations accords to its employees the right to share in its profits. This is the Agricultural and Horticultural Association, which, since 1874, has practised Profit-sharing in relation to all those employed in its works (st present 97 in number). sm informed by Mr. E. O. Greening, the Managing Director, that the ratio of bonus to wages has averaged from 6'2 to 8'7 per cent., and was in 1890 6'9 per cent. In compiling Table V., which deals with the'productive' co-operative societies, I have taken ss my basis, so far ss con- cerns the ratio of bonus to wages, the Returns published by the Co-operative Union--returns which (sithough the Union does the best it can with such materials ss it can obtain)are incomplete and occasionally inaccurate, but which still give more and better information than any other available source. It will be observed that my statistics go back to 1884, that being the earliest year, in respect to which these Returns mention the ratio of bonus to wages, but omit 1887, the figures for that year having been con- sidered by the Union to be too unsatisfactory for publication. include no societies, except such ss I have, by inspection of the official copies of their rules, or by other means, ascertained to be working on s profit-sharing basis, and ss are, in the Co-operative Returns, represented to have been in active operation during 1890. Most of the societies in Table V. have adopted Profit-sharing from  The details contained in the Anntal are not quite complete.