The Coal Company That Wanted One Vote Per Miner and an Eight-Hour Day
The Renton Co-operative Coal Company incorporated with $100,000 capital, promising shareholders a preference for work, one vote per person rather than per share, and an eight-hour day underground.
After a session of the stockholders extending over the greater part of three days, the Renton Co-operative Coal Company has been formally incorporated, and the articles of incorporation were filed for record with the county auditor yesterday afternoon. The capital stock of $100,000 has nearly all been subscribed, mostly in King, Pierce and Snohomish counties. The mines of the company, located near Renton, have all been transferred, and it is expected that work will be begun within sixty or ninety days. The head office will be at room 506, Seattle National Bank building. The officers are: President, William Prosser; secretary, Roger G. Reese; treasurer, William Wood; trustees, Rees P. Daniels, John A. Williams, William Prosser, William E. Williams and Thomas D. Jones.
The objects of the company, as indicated by the name, are to carry on the mining and handling of coal, to acquire coal lands and other real estate, to buy and sell at wholesale or retail all merchandise excepting intoxicating liquors, to build houses and lease or sell the same, to acquire water rights, to construct water works and electric light plants, to build railways, steam, electric or otherwise, and to be invested with all the functions of a commercial concern.
The co-operative feature of the corporation appears in a provision that stockholders shall have a preference right of employment so long as they faithfully and properly perform their duties. It is further provided that the company shall use all feasible and reasonable endeavors to have eight hours constitute a day's labor. Bonds, notes and like instruments may be issued on a vote of three-fifths of the shareholders, and each shareholder is entitled to one vote and no more, no matter how many shares of stock he may hold. The duration of the corporation is fifty years.
“Each shareholder is entitled to one vote and no more, no matter how many shares of stock he may hold.”
In an era of brutal coal mining and shareholder-controlled companies, this incorporation tried to write a different rulebook: one vote per person, jobs for members, and an eight-hour day. It is a small but telling alternative vision of who should control Washington's resource economy and what work should cost in human hours.
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