THE WI\E-MAKKHS' CORPORATION. 521 



A canvass was tlicrefore at once instituted among this 

 class, and, within a reasonable time, completed by the signa- 

 tures of those controlling more than the required seventy-five 

 per cent, of the output of dry wines, and the " Wine-makers' 

 Corporation " was then duly formed. 



The essential features of this corporation and its operations 

 are as follows: — 



1. Subscriptions to the stock of the corporation according 

 to annual product by all wine-makers. 



2. The immediate grading, by experts appointed by the 

 corporation, of all wines in tlie cellars of its members, and 

 prompt distillation of all unsound and inferior goods into 

 brandy. 



8. The purchase, by the corporation, of all merchantable 

 stock, at an agreed price, ninety per cent payable in cash as 

 sold, and five per cent to be applied in payment of stock 

 subscriptions. 



4. Necessary advances by the corporation, in advance of 

 sales by it, at usual rates of interest, upon ail wines thus turned 

 over to it. 



5. A privilege to each wine-maker to withdraw from the 

 wine sold by him to the corporation, all wines needed by him 

 for his private trade, under a guarantee that they shall not be 

 sold at prices less than those fixed b}^ the corporation for wines 

 of the same grade. 



6. The lease, by the corporation, of the buildings and plant 

 of each wine-maker, the corporation to re-lease to the owner, 

 under conditions insuring that tlie business shall be carried 

 on in the manner prescribed by the corporation for the general 

 good. 



This plan is evidently effective and business like. It was 

 rendered possible by the fact that wines being, under proper 

 care, non-perishable, are highly available as security, and the 

 officers and directors of the corporation being men of capital 

 and business experience, there was no trouble in conducting its 

 financial operations. It is more substantial than the coopera- 

 tive societies concerned in otlier fruit products for the reason 

 that wines are non-perishable and more staple than other fruit 



