PROPOSED CO-OPERATIVE SUPPLY ASSOCIATION.

Thames Guardian and Mining Record, Volume I, Issue 251, 29 July 1872, Page 3

PROPOSED CO-OPERATIVE SUPPLY ASSOCIATION.

A meeting of those interested in the formation of a Co-operative Supply Association was hold on Friday night, at the Mechanics’ Institute. Mr Edwin Binney was called to the chair, and read the advertisement convening the meeting. Mr Bryce B- in, as convenor of the meeting, explained the objects he had in view, and which had caused him to do so. Although he had never been practically connected with any Association of the sort, he had often devoted much of his time to the consideration of the desirability of forming such an Association in this district. The Co-operative system first emanated in the cotton districts of Lancashire—in the town of Itochdale—at the time when many of the labourers were out of employment and hard up, when someoftheinen put their heads together to devise a plan ot some sort to better themselves, and they finally hit upon the co-operative system, which had proved so very successful since. The Association in Rochdale started operations in the year 1814, with a capital ot only £2B. In ’GB, the capital had increased to £27,000, thus giving an instance of its great success, and tlic amount of support it elicited. The principle, he felt sure, was a sound one in every respect, and it behoved this community to start the system here. Looking at it from many points of view, he thought the principle a sound one, more especially from an economical point of view. The business of this meeting was to take into consideration the advisability of starting a Co-operative store in this district. The manner in which this s} stem could be carried out might be explained in a few words. The Association might be started with a capital of £I.OOO, in 500 shares of £2 each, and no subscriber to he allowed to purchase more than 30 shares, 3s to lie paid on the delivery of the shares, and 2s a month afterwards, until the whole of the capital was paid up. Th • books would he balanced every or 3 or 6 months, aud the profits of the Association would be equally divided between the holders of shares in proportion to the number they held. Thus it would he seen that persons dealing at the co-operative store,wouldgeta share of the profits, as well as getting the best article obtainable at a reasonable rate. He would like to hear discussion on the subject. Mr Gray said lie would break the ice

as others seemed rather slow to move in the matter, and would propuse “ that it is desirable to have a co-op rative store established in this district.” lie quite endorsed Mr Bain’s sentiments as to the soundness of the principle, and thought one started here would be a most decided success. The money thus spent was between themselves, and the profits won likewise divided between themselves. Mr Leith seconded the motion. Mr Bagnalg thought this district was too scattered, and communication too bad, for the successful working of a co-opera-tive store, but he wouid not oppose the movement by any means. Mr Leitii said he had come that evening to be informed on the subject, but as the last speaker had observed, there would

he certain obstacles in the way. A few difficulties would, no doubt, have to be overcome, but he thought they were quite capable of being subdued. Mr Bain stated that the Rochdale Pioneer Co-operative Association received 28 per cent profit on the capital Mr Gray said he thought the store-keep-ers should bo given to understand that a co-operative store would not be run in opposition to them, but simply, he stated, to enable the public to buy goods at a reasonable figure, and get a share of the profits of the capital invested by themselves. lie might state from what little experience he had in the profits derivable from stoivkeeping there was 15 per cent, aud in the bakery business a trifle more.

Mr Piiilp said lie had had practical experience in this line. He had, in conjimtion vvitn three other persons, started a cooperative store in Gloucestershire with fivo bags of flour. They gave 5 per cent on the capital invested in starting the association. Their greatest diltieuliy was in purchasing goods in the first instance, but they soon overcame that. They did not try to sell goods cheaper than other stores, but let tlie public judge for themselves. They used to buy when they iirst started to such an extent that they could carry all their stores away in a wheelbarrow, hut the last order lie gave for the association was for 2(30 sacks of flour. He felt sure that a co-operative store in this district would thrive, and would give all his assistance possible towards helping its formation.

A discussion here took place on minor points, which were finally left to the next meeting, when it was promised rules of some established store would be forthcoming, and which, no doubt, would settle these points. Mr Balm then proposed that the following gentlemen form themselves into a committee for the purpose of making out a report, and preparing a prospectus to be laid before the next meeting on the subject : Messrs Gray, Leith, Speight, Philp, Fisher, and the mover, with power to add to their number. It was agreed to meet that night week again. A vote of thanks to the chairman terminated the proceedings of the meeting.