Page 32 - The_story_of_the_C._W._S._The_jubilee_history_of_the_cooperative_wholesale_society,_limited._1863-1913_(IA_storyofcwsjubill00redf) (1)_Neat

The Story of the C.W.S.

Jubilee Souvenir of the Moulton Society it may be inferred that
affihation with the Midland was not inconsistent with purchasing
occasionally from the North of England C.W.S. The Northants
federation was always closely intertwined with the retail society of
the Progressionists, using the same premises and depending upon
persons holding identically the same positions in both bodies; and
in 1867 there was much discussion in the parent organisation as to
the wisdom of the connection. A year later the Moulton delegates
were empowered to vote for " the amicable winding up of the
Wholesale Society." In 1870 an end could not be delayed. Not-
\^ithstanding its title (almost enough in itself to give stabihty), the
M.C.C.W.I, and P.S. Ltd. ceased business, and the Progressionists
came to a stop with it. The immediate causes of failure were given
as "Loss on mill; cutting; heavy stock of cottons, silks, twists,
grindery, &c., rendered useless on introduction of machinery into
the boot trade." Says Mr. Butcher, "they got out of their depth."
The same liquidator performed the melancholy task simultaneously
for both societies. All creditors were paid in full, and the share-
holders received 35s. for every £5 share.
Thus ended the last of all the predecessors of the Co-operative
Wholesale Society. It was a failure of much consequence locally.
Even now there are said to be old co-operators in Northamptonshire
who are distrustful of investments in the C.W.S. One is reminded
of the wife of a co-operative president in the West of America, a lady
of German birth, whose comment upon views and statistics of the
English C.W.S. published locally was, "0, dat's all right. Nobody
"
round here believes dat !
The Midland venture, however, did not go out in utter darkness,
for already in the North the beacon of the C.W.S. was burning
brightly.

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