The Miners Who Own the Mine: Renton's Co-op Coal Company Is Ahead of Schedule
A cooperative of miners, mechanics and laborers has raised money faster than expected and will start work early — with most of its coal bound for Seattle.
At the time of the organization of the Renton Co-operative Coal Company, February 16, 1895, it was stated that the company expected to commence operations in about sixty or ninety days. In an interview with Roger C. Reese, secretary of the organization, at their office in the Seattle National Bank building, it is learned that the company expects to commence work much earlier. This statement is based upon the fact that more of the stock is being subscribed and paid for than was expected, thereby making it possible for the company to meet obligations before they were due and promising a margin for early developments.
This will be gratifying news to the people of Seattle, for the greater part of the coal that will be shipped from the Renton mine will come here.
There are already in the neighborhood of the miners, mechanics and laborers who are interested in the company and holding one share and upwards. While each shareholder is limited to one vote, there is no limit to the number of shares that can be held by any one person.
There is to be a meeting of the shareholders in the office of the company on Saturday, the 16th instant, at which time by-laws will be adopted and other important business transacted.
Heretofore the promoters of the organization have worked almost exclusively among those who are expected to mine the coal. They now expect to give their attention in the direction of interesting consumers, in order that there may be a mutuality of interests between the producer and consumer, thereby avoiding complaints so frequently made by the latter of being imposed upon by the former. Mr. Reese is of the opinion that when the by-laws are adopted they will present special inducements to consumers.
“The greater part of the coal that will be shipped from the Renton mine will come here.”
A company owned by the people who dig its coal, selling directly to the city that burns it, is a cooperative vision that resonates with today's debates over who profits from energy and land. Renton would go on to become an industrial powerhouse — and the question of whether producers or consumers should hold the power in a resource economy remains live.
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