Page 59 - The_story_of_the_C._W._S._The_jubilee_history_of_the_cooperative_wholesale_society,_limited._1863-1913_(IA_storyofcwsjubill00redf) (1)_Neat

A Sister Society in Scotland.
truth, he became the second of two buyers, with the main conduct
of the business probably aheady destined for his hands. This year,
1866, appears to have marked a turning point, beyond which the
federation was no more to be dependent ahnost for its existence
upon timely and substantial loans from the more prosperous and
friendly retail societies. Shares were accumulating out of retained
dividends, so that in 1867 certain additional offers of money could
be declined " on account of having too much in the bank." New
developments quickly resulted from this condition, and still more
warehouse room became urgently needed. Land was purchased,
therefore, in the adjacent byways, Balloon Street and Garden
Street, and in the next year powers were obtained to spend up to
£10,000 upon building a warehouse of the Society's own. But the
progress was still cautious. Although solicited in 1867, the federation
declined to establish a branch at Newcastle, and a negative answer
was returned to a similar request from Scotland. These repUes,
however, were made in all friendliness, for when, in consequence,
the Scottish societies started a movement for a Scottish federation,
the North of England Society appointed its cashier to attend their
conference (Glasgow, June 8th, 1867), and offered its Scottish
members, in reply to an inquiry, " every facihty for the immediate
transfer of such shares, in the event of the formation of a Wholesale
Co-operative Society in Scotland." The Scottish Co-operative
Wholesale Society was founded in the following year, and the
relations with the elder sister, and (during latter years) partner
society, of England have always been entirely harmonious.
A period in this stage of development was marked by an alteration
of rules, finally sanctioned on November 16th, 1867. "The North
of England " was retained in the name, but the cumbersome
words " Industrial and Provident " were dropped. Individual
membership was absolutely aboHshed, as previously chronicled.
Non-shareholding societies for the first time were allowed to receive
half dividends upon their purchases unconditionally. A very
important change was to create quarterly instead of half-yearly
meetings with quarterly balance sheets and quarterly dividends, all
in the interests of a closer relation between societies and their
institution. Another new rule introduced depreciation upon such
buildings as, it now appeared, the Society would evidently need to
acquire. A curious alteration was to expunge the sentence in the
" construing of rules," " words importing the male shall be taken to
apply to the female." The Committee was enlarged from seven
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