was favourable to the undertaking. After a very long and animated debate, Mr. J. B. Baldwin, heretofore circumspect, moved, "That the directors be recommended to take up £2,000 in shares in that company," and at the next board meeting the directors agreed to apply for and pay the £2,000 for shares. The company exploded, and the Society lost about £450 in that venture. Thus, as might have been foreseen, the expenses of the deputation had to be defrayed by the Society. No account was taken in Leeds of what was well known in America of the trade rivalry and political jealousies of North and South, and that no trading transit could be had without the concurrence of the North, save by deepening the New Orleans river. A hundred times the amount sunk in the Tipton Green Colliery had been sunk in the New Orleans river without making an impression on its navigableness. It did not occur to Dr. Worrall to tell all he knew, and his colleagues in New Orleans were not more communicative, so the Society and deputation were misled. The question of participation in profit by the storekeepers was especially before the Board, and it was decided, after considerable discussion, to take it away. But in place of it, their wages were to be taken into consideration, with a view to compensating them for the loss of their share. Some thought it bartering a co-operative right for wages, and that principle dropped out in the transaction. However, it took away the stimulus of gain in proportion to exertion, by which the middle class grow vigilant and rich. The mill was again unable to supply the necessary quantity of flour required by the members and the public, consequently extensive alterations and additions had to be made in the mill, and machinery to meet the increased demand. Two new stores were opened and land bought for three more, in addition to building fifty-one cottages, at a cost of £12,503. This was far better than Mississippi investments— too far away to be under control. The Carlton Hill estate was purchased for the erection of a better class of houses. It consisted of 3,630 yards, and cost £1,015. The Committee of the Convalescent Home had inspected a suitable estate of sixty acres. At the half-yearly meeting they made their report. The meeting decided that the scheme was not "opportune.' Why could they not think of this useful term when the Mississippi scheme was before them? When the Golden Lion estate was in the market, the directors were desired to secure the corner site for the new stores. Before venturing upon its purchase, the directors prudently obtained plans of the estate, showing what could be retained with advantage to the Society, and what portion sold. Mr. Ambler, one of the eminent architects of the town, made the necessary drawings. After a considerable amount of expense and time had been incurred, the meeting determined not to buy it. The Lion estate would have been a Royal holding, even if they had no Unicorn Manor to match it. There was money in the name. 1876. DOLOUR IN ALL THE STORES-DIRECTORS CHECK THE PANIC BUT NOT THE WEEPING THE PHILOSOPHY OF INVESTMENTANOTHER EDUCATION TUMULT THE MISTÅKE THAT IGNORANCE IS HARMLESS-INCREASE OF STORES, HOUSES, AND LAND-HANDSOME CONSIDERATION FOR DISTRESSED MEMBERS -NEW MACHINERY COSTS £4,000 OFFICIAL SHYNESS OF THE MEAT TRADE-DIRECTORS BETTER PAID- W HEN the news of the loss of the £19,000 in the Tipton Green Colliery got noised abroad, as such things do, a crowd of those willing to gain without the risk of losing, and many who had too little not to be alarmed at losing that, rushed forward to give notice of withdrawing their shares. The directors prudently called in their balance at the bankers and met the demands without exacting the usual notice. This restored confidence, and those who withdrew their money soon brought it back again. As the members applauded the investment it was undignified to mourn the loss. In all undertakings the wise rule is to be prepared to lose as well as willing to gain. Those invited to invest should be told the risk, then none repent or have reproach for what they do with their eyes open, nor lose courage to embrace a good opportunity when it comes. When new shares had to be taken in an Intelligence Company, which always pays good dividends, a large number of members were injuriously careful. Mr. F. Curzon, an indefatigable advocate of the power of education being put into the hands of the working man, succeeded in obtaining a grant of £100. The meeting, however, was so turbulent that it was cited as a new argument proving the necessity of education. The meeting did not conclude until eleven o'clock. The newspapers report characterise the assembly as "disorderly." It was worth the while of the Society to agree to a permanent educational vote, to avoid the scandal which ignorance was bringing upon the members. Ignorance is not inactive, as some people suppose. On the contrary it is the most mischievous thing in the world—either doing harm when it does anything, or doing harm by preventing other people doing good. The vote that caused all the tumult was but £100 out of £14,000 of profit. It meant only one half-pint of beer less in twelve months. Trade being bad in the district, many notices of withdrawal were given. As not more than ten persons could withdraw in one quarter, the directors proposed to make a reduction of 3s. from all persons withdrawing in excess of the legal number. As this rule pressed hardest upon the most needy, they decided to pay off at once all persons who had already given notice, and that in future all cases of members in distress should be allowed to withdraw down to the amount of £1. Later in the same year a great number of withdrawals confronted the directors. In case of need they found their bankers were willing to advance £10,000, which by good management they never required. The withdrawals notwithstanding, the Meanwood store was opened, thirteen houses at Beeston Hill and fourteen houses at Burley Fields were completed, and land was purchased for stores at Hunslet Road and Farsley. A new condensing engine was bought of thirty-five horsepower, which cost £1,015. A new forty horse-power boiler cost £340. Other outlays required made a total of £4,000. The question of recommencing the meat trade came up for consideration, motion being made that live cattle should be purchased and prepared for sale on the Society's own premises. This was carried unanimously. The directors made exhaustive inquiries, and alarmed by what they learned and by former experience, took no steps to carry out the resolution but let the subject drop. Owing to the increased and ever-increasing duties of the directors it was resolved to augment their payment from £30 to £60 per annum, to be equally divided among them. It is wise to pay well for duties which require thought. Investment in capacity always yields good results. Mr. Emmerson stated, before the Parliamentary Committee of 1856, that up to that date, during nine years the directors had never received one halfpenny for their anxious, onerous, and laborious services. So it was not too soon to begin to better remunerate their successors. The increase of stores made evident the need of a Stores Visitor. As this required a person in whom implicit confidence could be placed, Mr. John Thomas was appointed. It is no mean praise, having regard to his onerous duties, that he gave the Society entire satisfaction. He proved to be that rare person, a good all-round man, which he needed to be seeing what his duties were. He was to visit each store every week, enter in a book, kept at the store, the condition he found it in, also make a copy in another book, and enter any remarks he thought might improve the working of the stores; the book to be laid before the Stores Committee every week. He was to be at the call of this committee at any time and also be utilised by the other committees as circumstances required. He was charged with the collection of all the rents, to look after the property, and to provide everything necessary for the great number of teas continually being held, and a great number of other things, as auctioneers say, "too numerous to mention." 1877. ANOTHER EDUCATIONAL BATTLE B STORES OPENED FLOUR MILL MACHINERY AGAIN IN- ROUGHAM said of Lord Liverpool, our Premier for fifteen years"If you brayed him in a mortar you could not bray the prejudices out of him." Members of the Lord Liverpool order abounded on the question of education. Still the leading members stood gallantly by the question. The subject of making a grant for this purpose had to be considered every year. As the consideration of the halfyearly balance sheet and report occupied the whole of the time of the meeting, it was decided to hold a special meeting to consider this question, when Mr. Wilberforce moved "That a grant of £100 be made, same as last year, for educational purposes." He made an eloquent appeal to the members not to be behindhand in this all-important question, but to show to the world that they were not merely dividend-seekers but friendly to intelligence, the want of which was the chief stumbling block in the way of industrial progress. If they rejected the motion, they would some day regret it. The appeal fell upon stony ground, for it took no root, or withered as it fell, owing to the arid atmosphere. The majority of the members had made up their minds that no money should be spent (if they could help it) on education; thus the subject died this time. Still general progress went on, which might have gone on faster, with a greater number of intelligent members to aid it. New stores were opened at Hyde Park Road, St. Mark's Road, Larchfield or Hunslet Road, York Road, Hogg's Field (Holbeck), and one for drapery and boots at York Road. Further demands were made upon the flour mill, and the directors were again impelled to increase the corn-grinding machinery. The Society was then able to manufacture double the quantity of flour it had previously made, |