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Wallace, Dillon, 1863-1939

"The Story of Grenfell of the Labrador A Boy's Life of Wilfred T. Grenfell"

It was this. They would form
a company. They would open a store for themselves. Through the store
their furs and fish would be sent to market and they would get just as
big a price for their products as the traders got. They would buy the
store supplies at wholesale just as cheaply as the traders could buy
them. They would elect one of their number, who could keep accounts,
to be storekeeper. They would buy the things they needed from the
store at a reasonable price, and at the end of the year each would be
credited with his share of the profits. In other words, they would
organize a co-operative store and trading system and be their own
traders and storekeepers.
This meant breaking off from the traders with whom they had always
dealt and all hope of ever securing advance of supplies from them
again. It was a hazardous venture for the fishermen to make. They did
not understand business, but they were desperate and ready for any
chance that offered relief, and in the end they decided to do as
Doctor Grenfell suggested.
Each man was to have a certain number of shares of stock in the new
enterprise.


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