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.