A GUILD COMPANY [To the Editor of the SPECTATOR.]
SM,—A correspondent has sent me your issue of November 1st, in which an article entitled " The Guild Company," by G. R. Stirling Taylor, is published. It may interest your readers to learn that a Companies Empowering Act was passed last session in this Dominion, under which the prin- ciples advocated in the above mentioned article can be given practical effect, without in any way disturbing the existing capital of a company. This is accomplished by issuing " Labour Shares " of no par value, but carrying the same rights and privileges as capital shares. For some years part
I have been working on lines exactly similar to those advo- cated in Mr. Stirling Taylor's article and I most heartily endorse the proposals described by him. I enclose a copy of the Act referred to which I think I am right in claiming to he the first Act passed in any section of the British Empire under which, in companies, the contributors of Labour, in virtue of their service, can be given a similar status in-industry to the contributors of Capital.--I am, Sir, &c.,
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