44 
II.—PRIVATE FIRMS AND COMPANIES. 
ratio for 1866-67 as 12 per cent, in tlie case of shareholding and 
8 per cent, in the case of non-shareholding’ employees; while it 
would seem that the bonus divisible for 1871-72 was at the rates 
of 9 and 6 per cent, for shareholders and non-shareholders respec 
tively. As regards the numbers participating, it is stated that the 
number of employees participating in the year ending June 30, 
1873, was 1,937, and the number participating in 1874 was 2,218.* 
It is stated that in 1868 the number of persons employed in these 
collieries was 989 adults and 214 boys, and that in the early part 
of 1869, out of 989 adult workmen, 144 held between them 178 
shares, equal at par value to £1,780. From the first adoption of 
the profit-sharing scheme there had been a committee of the 
workmen, called together from time to time to give advice in 
respect to improving the processes of coal mining; and, as 
the accounts were verified each year by a professional accountant 
chosen by the shareholders, the employees had always a full 
knowledge of the affairs of the business, though at first 
no direct control. In 1869, however, one of the workmen 
shareholders, elected by his fellows, was given a seat as one 
of the board of five directors. It will be seen that the arrange 
ments made to carry out the method of industrial partnership 
were in many respects singularly complete; and their effect upon 
the conduct of the workmen was for some time considered to be 
very satisfactory. A spirit of harmony between employer and 
employed was developed, such small disputes as arose being 
amicably settled without loss of time; the coal was got in a more 
careful manner; there was a considerable saving in timber used 
for props, &c. The men showed a willingness to work extra hours 
when this was asked of them in the interests of the business, and 
generally were readier to obey orders than before the introduction 
of Profit-sharing. The circumstances which led to the abandon 
ment of the method of Profit-sharing were briefly as follows: — 
Messrs. Briggs had hoped that Profit-sharing would be accepted 
by their workmen as a substitute for Trade Union organi 
sation, they, on their part, abstaining from joining any com 
bination of employers for the regulation of wages. “ Until the 
summer of 1868, the workmen seemed to enter into these views; 
but at that time a growing desire to join the Union began to 
manifest itself, on tbe ground that, as the company agreed to 
pay the average weekly wages of the district as well as a share 
in the profits, and as the Union tended to raise those wages, it was 
to the interest of the workmen to aid in that endeavour. ”t In 
1872, after the directors had fixed upon August 19 for the 
annual meeting of the shareholders, they received a notice stating 
that a great meeting and demonstration of the Miners’ Union was 
to take place on that day, and requesting that work at the pits 
should be stopped in order to enable the men to attend. There 
upon the managing director, Mr. Archibald Briggs, issued notices 
to the effect that those who stayed away from work on August 19 
* Profit-sharing, by Sedley Taylor, p. 147. 
f Memorandum by Messrs. Briggs in Sedley Taylor’s Profit-sharing, 
pp. 122,123.