PRINCE OF WALES FOUNDS A BUSINESS

Sun (Auckland), Volume 1, Issue 115, 5 August 1927, Page 4

PRINCE OF WALES FOUNDS A BUSINESS

WOMAN’S CAPITAL OF SIX PENNY STAMPS HELP FOR LIFEBOATS With a capital consisting of six penny stamps sent to her by the Prince of Wales, Miss Caroline F. Baldwin, of Wylde Green, near Birmingham, has established a business, the profits of which she sends to the Royal National Lifeboat Institution. Already she has forwarded £4 10s, bought back the Royal stamps as a memento, and hopes that the “Little Acorn” business, as she has named it, will grow into a British oak. The story begins with a letter addressed by Miss Baldwin to the Prince, who is president of the institution, asking for six penny stamps “with which to trade on behalf of "the Royal National Lifeboat Society ” She promised to render an account periodically. The Prince forwarded the letter t.o the institution’s headquarters, and later the six stamps were sent from St. James’s Palace. Partner’s 4s Capital Within a month the first 10s profits were forthcoming, and the balancesheet showed that Miss Baldwin had made rosettes for Empire Day, selling 90 at 3d each and eight at a pennyeach. She had added 2s 6d to ‘ goodwill,” the expenses amounted to 7s 9d. and she retained a balance of 17s lid for further trading. Another month went by, and the “business” yielded a further £1 profit. By this time it had expanded to the extent of a partner, who subscribed an additional 4s capital. Later on came another £1 10s for the institution, and the partner’s ‘ share in the business had grown to j 10s 2Jd. Socks and dolls were now being made and sold, as well as rosettes Recently the Institution benefited bv : a further donation from profits to the I amount of £1 10s, and Miss Baldwin has, in recognition of her work, been ' made a member of the Ladies' Life- 1 boat Guild.