F & B (Canteen) Token: Baroda Mills Society. ½ Anna Canteen Token

[asm]

F & B (Canteen) Token: Baroda Spinning and Weaving Mills Company Ltd & The Baroda Spinning and Weaving Mills - Rajratna Sheth Jhaverchand Laxmichand - Co-operative Credit Society Ltd. (BARODA MILLS SOCIETY)
[/b] Inscription in English: BARODA MILLS SOCIETY REVERSE: CANTEEN TOKEN ½ .
Value: ½ Anna
Square Token with Rounded corners with Hole in the center.
Metal: Copper Weight: 2.26 g. Size: ~ 17.5 X 17.5 mm

About the Mill: The Baroda Spinning and Weaving Company Limited was registered and incorporated with the registrar of companies, in Bombay on 27 April 1905. Some time in 1910 or 1911, the there was a fire in the mill which lead to the mill filing an insurance claim of Rs. 4,297-13-6.
The company closed down its business somewhere on 9th October, 1966 and subsequently as a result of a company petition (No. 6 of 1967) presented on 8th March, 1967, the Baroda Spinning and Weaving Mills Ltd. was ordered to be wound on 17th April, 1968 and the official liquidator was appointed as the liquidator of the company.
About the Society: Some of the employees of the company had formed a co-operative credit society which was incorporated on 7th June, 1943, as "Baroda Co-operative Societies Nibandh, 1926". A Certificate of registration was issued by the co-operative officer on 12th June, 1943. The object for which the society was to encourage thrift and saving and to extend credit on easy terms to the members and to find ways and means to assist the children of the members in prosecuting their studies and to be helpful in the welfare of the members of the society. Membership of the society was open only to the employees of the company or to the employees of the co-operative credit society or the canteen of the company. A tripartite arrangement appears to have been worked out between the society, the members and the company by which it was agreed that the society would advance loans and make it obligatory upon the members to save a certain amount depending upon the amount of his wages every month and that the loan will be repayable by the monthly installments and the amount of installments and the interest accrued due till that date, as also the quota of compulsory saving of each member shall be deducted by the company from the wages that become payable to the employee. There is a specific written agreement between those who have taken loans from the society and the society because the agreement is incorporated in the application for loan itself. The society every month used to send a requisition to the company showing what amount it claims from each of its members who is an employee of the company and pursuant to this requisition the company would deduct the requisite amount from the wages payable to the employee and remit that amount to the society. As this arrangement has worked over a number of years, say nearly a quarter of a century, it would be reasonable to infer that it was pursuant to a tripartite arrangement accepted by all the three parties.

Amit

[Figleaf]

Your information on the company co-op fits like a glove with UK co-ops. Fascinating to see the social aspect of colonial industrialisation. The description also clarifies that the canteen was not a co-operative initiative - in France, it was quite common that company canteens were a staff activity. Perhaps the assertive approach of the staff did have an influence on canteen prices, though.

Yet another motivator to look into the background of these tokens. TFP!

Peter