Sir C. Furness and Coal Mining Co-Partnery

Yesterday a conference of men engaged in coal mining, called by Sir Christopher Furness, M.P., was held at Wingate Colliery, county Durham, for the purpose of hearing an explanation of an important project involving the application of co-partnery principles to coal mining.

Sir C. Furness, in the course of his speech, explained that he and Sir Walter Scott and Mr. J. S. Barwick had purchased Wingate Colliery and freehold estate from the trustees of the late Mr. John Gully. The price had been paid, and they were now in possession of the property. The object of the meeting was to consider the relations which should in the future exist between the owners and the men. In the past those responsible for the management of the colliery had been hampered owing to the fact that it was owned and worked through the Court of Chancery in the interest of the beneficiaries under the will. Such conditions had formed a bar to development. The colliery produced one of the best known gas, household, and steam coals in the north of England. At present it was yielding about 350,000 tons per annum, and there were rather over 1,400 men and boys employed in it. The freehold estate extended to about 1,000 acres, with several hundred houses, comprising nearly the whole of the township of Wingate. The purchase price of the property, comprising the freehold estate, plant, goodwill, and a sum of £7,000 invested in Consols was £175,000. The whole of these interests had been vested in a company registered as the Wingate Coal Company (Limited) with a capital of £200,000 in £1 shares. The first arrangement was that the three partners should each own one-third interest in the property. It occurred to them that the principle of co-partnery might be introduced as successfully in a colliery as in a shipyard, and they were, therefore, willing to allow the men employed at the colliery to become interested financially to the extent of one-quarter of the shares, the remainder to be held by the three partners. The conditions under which this arrangement was to be carried out were that the directors would retain for the officials of the company full power to employ men as the circumstances of the moment might determine ; the general conditions of working and payment would be those recognized by the Durham Miners' Union. Only those, however, who were men of capacity, discreet conduct, and sober habits would be employed. Every employé would become a member of the co-partnery, and 5 per cent. would be deducted from his pay until the shares allotted to him were fully paid. No employé could continue in the service of the company more than three months unless he became a co-partner. The labour co-partners would participate to the extent of their holdings in such profit as might be made. The control of the company's affairs would be in the hands of the directors, but a colliery council would be chosen for the men.

At the close of Sir C. Furness's speech it was decided to take time to consider the questions involved.